Attached files
| file | filename |
|---|---|
| 8-K - CAMERON INTERNATIONAL CORP 8-K 1-20-2015 - CAMERON INTERNATIONAL CORP | form8k.htm |
Exhibit 99.1
CAMERON INTERNATIONAL CORPORATION
SUPPLEMENTAL FINANCIAL INFORMATION - RECAST NEW OPERATING SEGMENT FINANCIAL DATA (Unaudited)
On June 3, 2014, Cameron International Corporation (the Company) announced it had completed the sale of its Reciprocating Compression business to General Electric. On January 5, 2015, the Company also announced it had completed the previously announced sale of its Centrifugal Compression business to Ingersoll Rand.
As a result, the Company reviewed its reporting structure and, effective in the fourth quarter of 2014, reorganized its reporting segments into Subsea, Surface, Drilling and Valves & Measurement (V&M).
The following schedule reflects certain recast selected historical financial data, based on the changes described above, relating to revenues, segment income before interest and income taxes, orders and backlog for the new segments for 2012, each quarter in 2013 and the first, second and third quarters of 2014. Full year 2014 information for the new reporting segments will be included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, when filed.
CAMERON INTERNATIONAL CORPORATION
RECAST NEW OPERATING SEGMENT FINANCIAL DATA (Unaudited)
EXCLUDING DISCONTINUED OPERATIONS
($ IN MILLIONS)
|
Nine Months Ended September 30, 2014
|
Year Ended December 31, 2013
|
Year Ended
|
||||||||||||||||||||||||||||||||||||||
|
Total
|
Third
Quarter
|
Second
Quarter
|
First
Quarter
|
Total
|
Fourth
Quarter
|
Third
Quarter
|
Second
Quarter
|
First
Quarter
|
December 31,
2012
|
|||||||||||||||||||||||||||||||
|
Revenues:
|
||||||||||||||||||||||||||||||||||||||||
|
Subsea
|
$
|
2,195
|
$
|
779
|
$
|
735
|
$
|
681
|
$
|
2,813
|
$
|
1,030
|
$
|
735
|
$
|
574
|
$
|
474
|
$
|
2,061
|
||||||||||||||||||||
|
Surface
|
1,751
|
600
|
613
|
538
|
2,077
|
557
|
533
|
499
|
488
|
1,859
|
||||||||||||||||||||||||||||||
|
Drilling
|
2,233
|
800
|
766
|
667
|
2,327
|
680
|
591
|
564
|
492
|
1,807
|
||||||||||||||||||||||||||||||
|
Valves and Measurement (V&M)
|
1,597
|
558
|
539
|
500
|
2,105
|
530
|
507
|
540
|
528
|
2,168
|
||||||||||||||||||||||||||||||
|
Elimination of intersegment revenues
|
(199
|
)
|
(59
|
)
|
(83
|
)
|
(57
|
)
|
(184
|
)
|
(66
|
)
|
(49
|
)
|
(43
|
)
|
(26
|
)
|
(100
|
)
|
||||||||||||||||||||
|
Consolidated revenues
|
$
|
7,577
|
$
|
2,678
|
$
|
2,570
|
$
|
2,329
|
$
|
9,138
|
$
|
2,731
|
$
|
2,317
|
$
|
2,134
|
$
|
1,956
|
$
|
7,795
|
||||||||||||||||||||
|
Segment Income before Interest and Income Taxes:
|
||||||||||||||||||||||||||||||||||||||||
|
Subsea
|
$
|
119
|
$
|
44
|
$
|
46
|
$
|
29
|
$
|
152
|
$
|
93
|
$
|
29
|
$
|
29
|
$
|
1
|
$
|
72
|
||||||||||||||||||||
|
% of revenues
|
5.4
|
%
|
5.6
|
%
|
6.3
|
%
|
4.3
|
%
|
5.4
|
%
|
9.0
|
%
|
3.9
|
%
|
5.1
|
%
|
0.2
|
%
|
3.5
|
%
|
||||||||||||||||||||
|
Surface
|
304
|
105
|
108
|
91
|
367
|
100
|
101
|
81
|
85
|
315
|
||||||||||||||||||||||||||||||
|
% of revenues
|
17.4
|
%
|
17.5
|
%
|
17.6
|
%
|
16.9
|
%
|
17.7
|
%
|
18.0
|
%
|
18.9
|
%
|
16.2
|
%
|
17.4
|
%
|
16.9
|
%
|
||||||||||||||||||||
|
Drilling
|
323
|
159
|
97
|
67
|
311
|
80
|
87
|
82
|
62
|
329
|
||||||||||||||||||||||||||||||
|
% of revenues
|
14.5
|
%
|
19.9
|
%
|
12.7
|
%
|
10.0
|
%
|
13.4
|
%
|
11.8
|
%
|
14.7
|
%
|
14.5
|
%
|
12.6
|
%
|
18.2
|
%
|
||||||||||||||||||||
|
Valves and Measurement (V&M)
|
312
|
104
|
110
|
98
|
414
|
105
|
93
|
107
|
109
|
396
|
||||||||||||||||||||||||||||||
|
% of revenues
|
19.5
|
%
|
18.6
|
%
|
20.4
|
%
|
19.6
|
%
|
19.7
|
%
|
19.8
|
%
|
18.3
|
%
|
19.8
|
%
|
20.6
|
%
|
18.3
|
%
|
||||||||||||||||||||
|
Elimination of intersegment earnings
|
(53
|
)
|
(17
|
)
|
(24
|
)
|
(12
|
)
|
(35
|
)
|
(11
|
)
|
(10
|
)
|
(9
|
)
|
(5
|
)
|
(21
|
)
|
||||||||||||||||||||
|
Segment income before interest, noncontrolling interest and income taxes
|
$
|
1,005
|
$
|
395
|
$
|
337
|
$
|
273
|
$
|
1,209
|
$
|
367
|
$
|
300
|
$
|
290
|
$
|
252
|
$
|
1,091
|
||||||||||||||||||||
|
% of revenues
|
13.3
|
%
|
14.7
|
%
|
13.1
|
%
|
11.7
|
%
|
13.2
|
%
|
13.4
|
%
|
12.9
|
%
|
13.6
|
%
|
12.9
|
%
|
14.0
|
%
|
||||||||||||||||||||
|
Corporate Items:
|
||||||||||||||||||||||||||||||||||||||||
|
Corporate expense
|
(110
|
)
|
(35
|
)
|
(38
|
)
|
(37
|
)
|
(162
|
)
|
(50
|
)
|
(36
|
)
|
(41
|
)
|
(35
|
)
|
(126
|
)
|
||||||||||||||||||||
|
Interest, net
|
(98
|
)
|
(36
|
)
|
(30
|
)
|
(32
|
)
|
(100
|
)
|
(26
|
)
|
(23
|
)
|
(25
|
)
|
(26
|
)
|
(90
|
)
|
||||||||||||||||||||
|
Other costs
|
(62
|
)
|
(19
|
)
|
6
|
(49
|
)
|
(92
|
)
|
(11
|
)
|
(14
|
)
|
(36
|
)
|
(31
|
)
|
(33
|
)
|
|||||||||||||||||||||
|
Consolidated income from continuing operations before noncontrolling interest and income taxes
|
$
|
735
|
$
|
305
|
$
|
275
|
$
|
155
|
$
|
855
|
$
|
280
|
$
|
227
|
$
|
188
|
$
|
160
|
$
|
842
|
||||||||||||||||||||
|
Orders:
|
||||||||||||||||||||||||||||||||||||||||
|
Subsea
|
$
|
1,839
|
$
|
813
|
$
|
596
|
$
|
430
|
$
|
4,405
|
$
|
1,184
|
$
|
1,283
|
$
|
381
|
$
|
1,557
|
$
|
2,427
|
||||||||||||||||||||
|
Surface
|
1,919
|
665
|
619
|
635
|
2,372
|
580
|
496
|
589
|
707
|
2,075
|
||||||||||||||||||||||||||||||
|
Drilling
|
2,030
|
574
|
639
|
817
|
2,803
|
832
|
632
|
674
|
665
|
3,578
|
||||||||||||||||||||||||||||||
|
Valves and Measurement (V&M)
|
1,582
|
529
|
517
|
536
|
2,086
|
526
|
497
|
524
|
539
|
2,104
|
||||||||||||||||||||||||||||||
|
Consolidated orders
|
$
|
7,370
|
$
|
2,581
|
$
|
2,371
|
$
|
2,418
|
$
|
11,666
|
$
|
3,122
|
$
|
2,908
|
$
|
2,168
|
$
|
3,468
|
$
|
10,184
|
||||||||||||||||||||
|
Backlog (at period end):
|
||||||||||||||||||||||||||||||||||||||||
|
Subsea
|
$
|
4,703
|
$
|
4,763
|
$
|
4,805
|
$
|
4,958
|
$
|
4,731
|
$
|
4,036
|
$
|
3,757
|
$
|
2,730
|
||||||||||||||||||||||||
|
Surface
|
1,202
|
1,146
|
1,063
|
963
|
935
|
965
|
875
|
667
|
||||||||||||||||||||||||||||||||
|
Drilling
|
3,725
|
3,922
|
4,050
|
4,141
|
3,995
|
3,948
|
3,845
|
3,671
|
||||||||||||||||||||||||||||||||
|
Valves and Measurement (V&M)
|
954
|
1,026
|
1,057
|
1,017
|
1,058
|
1,063
|
1,084
|
1,051
|
||||||||||||||||||||||||||||||||
|
Consolidated backlog
|
$
|
10,584
|
$
|
10,857
|
$
|
10,975
|
$
|
11,079
|
$
|
10,719
|
$
|
10,012
|
$
|
9,561
|
$
|
8,119
|
||||||||||||||||||||||||