Q4 2016
(US$ millions, except per share data ($)) | Gross Profit | Operating Income | Net Earnings | Corresponding EPS |
U.S. GAAP | 698 | 129 | 112 | 0.13 |
Impairment & Restructuring | 24 | 24 | ||
Estimated Income Tax Effect | 1 | |||
Non-U.S GAAP | 698 | 153 | 137 | 0.15 |
Q3 2016
(US$ millions, except per share data ($)) | Gross Profit | Operating Income | Net Earnings | Corresponding EPS | |
U.S. GAAP | 643 | 90 | 71 | 0.08 | |
Impairment & Restructuring | 29 | 29 | |||
Estimated Income Tax Effect | (4 | ) | |||
Non-U.S GAAP | 643 | 119 | 96 | 0.11 |
Q4 2015
(US$ millions, except per share data ($)) | Gross Profit | Operating Income | Net Earnings
| Corresponding EPS | |
U.S. GAAP | 559 | 25 | 2 | 0.00 | |
Impairment & Restructuring | 4 | 4 | |||
Estimated Income Tax Effect | (4 | ) | |||
Non-U.S GAAP | 559 | 29 | 2 | 0.00 |
(Appendix - continued)
Net financial position: resources (debt), represents the balance between our total financial resources and our total financial debt. Our total financial resources include cash and cash equivalents, marketable securities, short-term deposits and restricted cash, and our total financial debt includes short-term borrowings, current portion of long-term debt and long-term debt, all as reported in our consolidated balance sheet. We believe our net financial position provides useful information for investors and management because it gives evidence of our global position either in terms of net indebtedness or net cash position by measuring our capital resources based on cash, cash equivalents and marketable securities and the total level of our financial indebtedness. Net financial position is not a U.S. GAAP measure.
Net Financial Position (in US$ millions) | December 31, 2016 | October 1, 2016 | December 31, 2015 | |||
Cash and cash equivalents | 1,629 | 1,675 | 1,771 | |||
Marketable securities | 335 | 342 | 335 | |||
Total financial resources | 1,964 | 2,017 | 2,106 | |||
Short-term debt | (117 | ) | (117 | ) | (191 | ) |
Long-term debt | (1,334 | ) | (1,436 | ) | (1,421 | ) |
Total financial debt | (1,451 | ) | (1,553 | ) | (1,612 | ) |
Net financial position - Non-U.S. GAAP | 513 | 464 | 494 |