atk assignment

8/12/2019 ATK Assignment

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Years Ended March 31

(Amounts in 2013 2012

2011

Sales . . . . . $ 4,362,145 $

Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross profit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Operating expenses:Research and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Selling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

General and administrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income before interest, loss on extinguishment of debt, income taxes,and noncontrolling interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Loss on extinguishment of debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income before income taxes and noncontrolling interest. . . . . . . . . . . .

Income tax provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Less net income attributable to noncontrolling interest . . . . . . . . . . . . . Net incom $Alliant Techsystems Inc. earnings per common share:

Basic. . . . $

Diluted . . $

Cash dividen $

Alliant Techsystems Inc. weighted-average number of commonshares outstanding:

Basic. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Net Incom $

Other comprehensive income (loss), net of tax:Pension and other postretirement benefit liabilities:Reclassification of prior service credits for pension and

postretirement benefit plans recorded to net income, net of tax benefit of $3,366, $3,370, and $3,600 . . . . . . . . . . . . . . . . . . . . . .Reclassification of net actuarial loss for pension and

postretirement benefit plans recorded to net income, net of taxexpense of $(49,192), $(38,042), and $(33,962). . . . . . . . . . . . . . .Valuation adjustment for pension and postretirement benefit


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plans, net of tax (expense) benefit of $(9,575), $94,968, and$4,009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Change in fair value of derivatives, net of tax expense of $3,586,$17,060, and $6,078, respectively . . . . . . . . . . . . . . . . . . . . . . . . . . .Change in fair value of available-for-sale securities, net of tax

benefit of $135, $156, and $205, respectively. . . . . . . . . . . . . . . . . .

Total oth $

Comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Less comprehensive income attributable to noncontrolling interest .Compreh $

3,421,276940,869

64,678162,359

244,189

469,643

-65,924538

-11,773

392,484120,243272,241

436271,805 $

8.38 $

8.34 $

0.92 $

32,44732,608272,241 $

-5,406

78,062


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15,456

-5,608

-21082,294 $

354,535436

354,099 $

3,618,503994,896

66,403

169,984

262,923

495,586

-89,296676

406,966143,762

263,204592

262,612 $

7.99 $

7.93 $

0.8 $

32,87433,112

263,204 $

-5,392


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60,864

-152,066

-26,683

-244(123,521) $

139,683592

139,091 $

3,840,6981,001,566

64,960164,063

246,817

525,726

-87,612560

438,674

124,963313,711

536313,175

9.419.320.2

33,275

33,615313,711

-5,785


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54,569

-4,844

-9,607

-324

34,009

347,720536

347,184


6/35

4,613,399 $ 4,842,264


7/35


8/35

D STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands except per sharedata)

Operating expenses:

Interest expense )

Year

2013

Sales $ 4,362,145

Cost of sales 3,421,276

$

Gross profit 940,869

Selling 162,359

Research and development 64,678

General and administrative 244,189

(65,924

Income before interest, loss onextinguishment of debt, incometaxes, and noncontrolling interest

469,643

Loss on extinguishment of debt (11,773 )

Interest income 538

Income before income taxes andnoncontrolling interest 392,484


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Alliant Techsystems Inc. earningsper common share:

Alliant Techsystems Inc. weighted-

average number of common sharesoutstanding:

Other comprehensive income(loss), net of tax:Pension and other postretirementbenefit liabilities:

Reclassification of prior servicecredits for pension andpostretirement benefit plansrecorded to net income, net of taxbenefit of $3,366, $3,370, and$3,600

)

Income tax provision 120,243

Net income 272,241

Less net income attributable tononcontrolling interest 436

Net income attributable to AlliantTechsystems Inc. $ 271,805

Basic $ 8.38

$

Diluted $ 8.34 $

$

Cash dividends paid per share $ 0.92

Basic 32,447

$

Diluted 32,608

Net Income (from above) $ 272,241 $

(5,406


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Change in fair value of derivatives,net of tax expense of $3,586,$17,060, and $6,078, respectively

)

Change in fair value of available-for-sale securities, net of tax benefit of$135, $156, and $205, respectively

)

Reclassification of net actuarialloss for pension andpostretirement benefit plansrecorded to net income, net of taxexpense of $(49,192), $(38,042),and $(33,962)

78,062

(5,608

Valuation adjustment for pensionand postretirement benefit plans,net of tax (expense) benefit of

$(9,575), $94,968, and $4,009

15,456

Total other comprehensive income(loss) $ 82,294 $

(210


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Less comprehensive income

attributable to noncontrollinginterest 436

Comprehensive income 354,535

Comprehensive income attributableto Alliant Techsystems Inc. $ 354,099 $


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78.4% 78.4% 79.3%

21.6% 21.6% 20.7%

1.48% 0.014394

3.72%

5.60%

) )

s Ended March 31

2012 2011

4,842,264

3,618,503

4,613,399 $

3,840,698

994,896 1,001,566

66,403 64,960

262,923 246,817

169,984 164,063

525,726

(89,296 (87,612

495,586

560

676

406,966 438,674


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) )

143,762 124,963

263,204 313,711

592 536

262,612 $ 313,175

7.93

7.99 $ 9.41

$ 9.32

32,874

0.8 $ 0.2

33,275

33,112 33,615

263,204 $ 313,711

(5,392 (5,785


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) )

) )

60,864

)

(26,683 (9,607

54,569

(152,066 ) (4,844

(123,521 ) $ 34,009

(244 (324


15/35

592

139,683 347,720

139,091 $ 347,184

536


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CONSOLIDATED BALANCE SHEETS

(Amounts in thousands except share data)

ASSETS

Current assets:

LIABILITIES AND EQUITY

2013

Net receivables 1,312,573

Cash and cash equivalents $ 417,289

Income tax receivable 22,066

Net inventories 315,064

Other current assets 45,174

Deferred income tax assets 106,566

Net property, plant, and equipment 602,320

Total current assets 2,218,732

Noncurrent deferred income tax assets 95,007

Goodwill 1,251,536

Total assets $ 4,383,010

Deferred charges and other non-current assets 215,415


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Current liabilities:

Common stock$.01 par value: Authorized180,000,000 shares

Accounts payable 337,713

Current portion of long-term debt 50,000

Accrued compensation 137,630

Contract advances and allowances 119,491

Other accrued liabilities 262,021

Accrued income taxes

Long-term debt 1,023,877

Total current liabilities 906,855

Accrued pension liability 719,172

Postretirement and postemployment benefits liabilities 94,087

Commitments and contingencies (Notes 10, 12 and 13)

Total liabilities 2,870,449

Other long-term liabilities 126,458


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Accumulated other comprehensive loss )Common stock in treasury, at cost9,237,154 sharesheld at March 31, 2013 and 8,413,041 shares held atMarch 31, 2012

)

Issued and outstanding32,318,295 shares atMarch 31, 2013 and 33,142,408 shares at March 31,2012

323

Retained earnings 2,483,483

Additional paid-in-capital 534,137

Noncontrolling interest 10,392

(828,304

(687,470

Total Alliant Techsystems Inc. stockholders' equity 1,502,169

Total liabilities and equity $ 4,383,010

Total equity 1,512,561


19/35


20/35

333,980

30,000

121,901

119,824

307,642

6,433

1,272,002

919,780

878,819

111,392

3,304,995

123,002


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)

)

332

2,241,711

537,921

9,956

(910,598

(642,571

1,226,795

$ 4,541,746

1,236,751


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SOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

Operating Activities

Adjustments to net income to arrive at cashprovided by operating activities:

Excess tax benefits from share-based plans )

Changes in assets and liabilities:

Net inventories )

2013

Depreciation 94,903

Net income $ 272,241

Amortization of intangible assets 11,159

Amortization of debt discount 6,875

Amortization of deferred financing costs 3,847

Loss on the extinguishment of debt 11,773

Deferred income taxes (16,591 )

(Gain) loss on disposal of property (1,613 )

(2

12,025

Net receivables 34,602

Share-based plans expense

(56,569

Contract advances and allowances (333 )

Accounts payable 4,160

Accrued compensation 13,200

Accrued income taxes 26 042


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Investing Activities

Capital expenditures )

Cash used for investing activities )

Financing Activities

Payments made on bank debt )

Payments made to extinguish debt )

Dividends paid )

Other assets and liabilities (56,605 )

Pension and other postretirement benefits (33,438 )

Cash provided by operating activities 273,592

(96,889

Acquisition of business, net of cash acquired

Proceeds from the disposition of property, plant,and equipment 172

(35,000

(96,717

Payments made for debt issue costs (1,458 )

(409,000

Proceeds from issuance of long-term debt 200,000

Purchase of treasury shares (58,371 )

(30,033

Excess tax benefits from share-based plans 2

Proceeds from employee stock compensationplans 5,461

Cash (used for) provided by financingactivities

(328,399 )


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Supplemental Cash Flow Disclosures:

Noncash investing activity:

Noncash financing activity:

(Decrease) increase in cash and cash equivalents (151,524 )

Cash and cash equivalents at beginning of year 568,813

Cash and cash equivalents at end of year $ 417,289

$ 14,549

Property disposals included in accountsreceivable $ 5,177

Capital expenditures included in accountspayable


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) )

) )

Years Ended March 31

2012 2011

98,037

$ 263,204 $ 313,711

100,041

10,848 11,145

12,293 17,168

4,764 5,157

7,518 23,018

(2,928

9,740

(23 (540

) 2,281

6,724

(207,451 ) (153,723 )

(16,466 (6,400

20,065

(2,103

42,557

) 15,108

(25,063 ) (53,616 )

19 801 40 164


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) )

) )

) )

) )

) )

123,048

37,547

372,307

86,955

421,070

71,124

(122,292 (130,201

(172,251 )

7,335

(20,000 (13,438

3,001

(114,957 (299,451

(300,000 (537,576

(49,991 )

750,000

(26,552 (6,700

(19,883 )

13,819

23

5,709

540

(390,811 ) 186,762


27/35

(133,461 ) 308,381

702,274 393,893

$ 568,813 $ 702,274

$ $

$ 14,976 $ 14,118


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LIDATED STATEMENTS OF EQUITY

(Amounts in thousands exceptshare data)

Shares Amount

Common Stock $.01 Par Value

Balance, March 31, 2010 33,047,018 $ 330

Comprehensive income

Exercise of stock options 251,401

Restricted stock grants 88,585

Share-based compensation

Performance shares issued net oftreasury stock withheld

139,342

Tax benefit related to share basedplans and other

Dividends Paid

Employee benefit plans and other (7,274 ) 5

Balance, March 31, 2011 33,519,072


335




Treasury Stock Purchased (742,000 )

Performance shares issued net oftreasury stock withheld 73,685


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Dividends paid

Employee benefit plans and other (17,722 ) (3

Balance, March 31, 2012 33,142,408 332

)





Treasury stock purchased (1,003,938 )

Performance shares issued net oftreasury stock withheld

44,964


Dividends paid

Employee benefit plans and other (41,165 ) (9

Balance, March 31, 2013 32,318,295 $ 323

)


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Additional

Paid-InCapital

Retained

Earnings

$ 1,699,176 $ 578,046

313,175

(5,622 )

(7,057 )

9,740

(17,193 )

1,111

(6,700 )

254

559,279 2,005,651

(2,580

262,612

)

(17,159 )

6,724

(8,752 )


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(1,173 )

1,582

(26,552 )

537,921

2,241,711

271,805

(1,552 )

(8,429 )

12,025

(5,463 )

(2,474 )

2,109

(30,033 )

$ 534,137 $ 2,483,483


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Treasury

Stock

Accumulated

OtherComprehensive

Loss

) $$ (821,086 ) $ (657,872

34,009

19,440

7,057

10,689

(744 )

(621,430 )(787,077 )

(123,521 )

8,289

17,159

) (49,991

5,946


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) (2,544

) (642,571 )(910,598

82,294

7,013

8,429

) (59,511

4,003

) (4,833

$ (828,304 ) $ (687,470 ) $


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Total

Equity

oncontrolling

Interest

$ 807,4228,828

347,720536

13,818

9,740

(6,504 )

1,111

(6,700 )

(485 )

1,166,1229,364

592 139,683

5,709

6,724

) (49,991

) (2,806


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) (1,173

(26,552 )

) (965

1,236,7519,956

354,535436

5,461

12,025

) (59,511

) (1,460

) (2,474

(30,033 )

) (2,733

$ 1,512,56110,392

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