Arcelormittal Executive Summary

4.       Interest expense will reflect that there is now $12 million in long-term debt in the form of bonds payable at 10.75%. Ten million dollars of new debt is being added to $2 million of old debt.

These driving forces very easily impact the steel industry’s competitive structure in a bad way. These driving forces make it very difficult for steel companies to compete in this industry.

The Total Current Assets for Competition Bikes is 36.8% in year 8 up from 31.5%, showing that the company has enough funds to settle current debt. Specifically Works in Process Inventory and Raw Materials Inventory remains unchanged from year 7 to 8, this shows that even with a decrease in sales the company is slow moving and has not adjusted inventory to sales. The company has accrued more debt from year 7 to year 8 seeing an increase of Total Current Liabilities moving from 5.4% to 7.0%.

After reviewing the Balance sheet I have a concern regarding the Current and short term liabilities. Creditors/ trade payable is payment yet to be made for goods already received, if this continues to rise then it will effect the business profit and less stock will have to be ordered so repayments can be made. Bank overdrafts also continued to rise and in the long-term the business will be paying greater interest, which will again eat into the profit. Both increased quite a great deal from the last year-end. If this continues then the business will get into bad debts and owe too much that it will end up having to sale its assets to survive. Finally I can see that due to the above issues and other issues the net current assets/ working capital has decreased so therefore the business is less value then it was a year ago. If the business is worth £1 million now, this could soon decrease within another year.

Based on the financial ratios calculated, it appears that Pinnacle Manufacturing (the “Company”) is both using up cash assets and increasing its debt. The Cash Ratio has declined each of the past three years indicating that the Company has a decreasing ability to pay its current liabilities from cash and will be required to liquidate assets to pay off current liabilities. The Current Ratio has also declined each of the last three years. In 2009, it was 218.6% or 2.186. This means that for every dollar of current liabilities the Company had $2.18 in current assets with which to pay those liabilities.

According to the consolidated balance sheet on January 30, 2010 (exhibit 1), the total amount of debt, including short-term and long-term debts and other current liabilities was at $16.814 billion. Account Payable is excluded from the WACC’s debt component because it is not a source of funding that comes from

However, in 2009 revenues declined to $4.5 million along with net cash flows from all activities declining in 2009 as well. Overall capital expenditures for the company have been continually increasing by 26% each year. Milton had planned on borrowing $20 million in the fourth quarter of 2010 from

Going in the opposite direction were two liabilities. Long term debt went down from $1.91 billion during 2004FY to $1.57 billion in 2005FY while accrued expenses dropped from $1.67 billion to $1.52 billion over the same period.

In the year of 2012 assets had increased by $7,093,000, from the $1,669,444,000 in 2011, primarily due to increases in net patient’s accounts receivable of $22,866,000, prepaid expenses of $3,709,000. According to the Palomar Health Consolidated Financial Statements (2013) capital assets increased as well, by $214,760,000, this was due to purchase related projects. Palomar Health showed a decrease of noncurrent assets in the year 2012 by $176,887,000. Current liabilities decreased by $3,047,000, primarily due to a decrease in accounts payable of $12,820,000. Long-term liabilities increased by $28,446,000, primarily because of the increase in the interest rate adjustment to market value of $20,912,000, G.O. Bonds of $14,622,000, and the long-term portion of workers’ compensation of

Total current assets changed from $142,266,000 to $106,467,000. The majority of the differences of 35,799,000 came from the above.

largest percentage changes on Lockheed Martin’s balance sheet is the 16% vertical increase in ‘Other Liabilities’ (Other Non-Current Liabilities). This portion of the balance sheet contains payable liabilities in the future such as environmental cleanups and proceedings ($1.0B recorded in accordance with the Comprehensive Environmental Response, Compensation and Liability Act), expected pension payments, and deferred compensation plans. As obligations listed in this account are normally contractual or mandatory, it will be hard for the company to reduce the amount. What the company can instead do is to transfer some amount under prepaid expenses, thereby erasing some liabilities while fulfilling some pension and compensation obligations.

The productive assets of property, plant, and equipment changed dramatically in 1996 they were 5,581 to 2010 an increase to 21,706. In total current assets there was a increase in 1996 from 5,910 to in 2010 21,579. Another significant change is in long term debt in 1996 of 1,116 to in 2010 an increase to 14,041. Also an important figure to note is in the retained earning in 1996 they were 94% (15,127) to 2010 68%

The overall 8 percent growth in sales and revenues were accomplished in a year when end markets in the United States were weak. Considering that North American dealers took machine inventories down $1.1 billion in 2007, the sales story is even more impressive. For the year, sales and revenues increased $3.441 billion —$1.271 billion from higher sales volume including $775 million from the acquisition of Progress Rail, $932 million from improved price realization, $890 million

Arcelor Mital, the first largest steel company of the world, on the date the article was written, arose from the merger between the UK/Indian based-company Mital and the French and Luxembourg-based

Balance Sheet: Assets, such as Cash and Cash equivalents are up over last year by $20.72 million dollars, whereas Short Term Investments where 0 at the end of 2013 they were slightly up to $1.12 by January 3, 2015. Other Assets shows a drop of $8.26 million dollars, mostly in Property, Plant and Equipment. Based on the 10-K report the balance sheet was in the thousands other web based financial reporting sites show the numbers to be in the millions. Upon further review of the Balance Sheet from the financial website “Watch” the break down in Property, Plant and Equipment shows the biggest difference in the Accumulated Depreciation. (Market Watch) The Vertical Ratio for 2014 Total Current Assets is 3% of the Total Assets and in 2013 was also 3%. The Horizontal Ratio for Total Asset were 37% reflecting a change from 2014 at $212.05 and 2013 $195.61 signaling a significant increase in 2014. The 2015 financial were not completed at the time of this report but the