01—Abstract
Summary
Summary of the 10-K/A filed February 28, 2012. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to Howmet Aerospace Inc.'s (formerly Alcoa Inc.) Annual Report for the fiscal year ended December 31, 2011.
The amendment's primary purpose is to include conformed signatures for the Board of Directors on a power of attorney exhibit, which were inadvertently omitted from the original filing. No financial statements or other substantive disclosures from the original 10-K have been amended in this filing.
Investors should refer to the original Form 10-K filed on February 16, 2012, for comprehensive financial and operational information regarding Alcoa Inc. for the fiscal year 2011. This amendment is procedural and does not alter the previously reported financial data or business operations of the company.
02—Key points
Key Highlights
- This is an Amendment No. 1 to the Form 10-K for the fiscal year ended December 31, 2011.
- The amendment's sole purpose is to correct an omission of conformed signatures on a Power of Attorney exhibit (Exhibit 24).
- No financial statements or other substantive disclosures from the original filing have been amended.
- This filing does not reflect events or information subsequent to the original filing date of February 16, 2012.
- The registrant is identified as Alcoa Inc. and is a well-known seasoned issuer and large accelerated filer.
- The filing confirms that all required reports were filed and that the company has been subject to these filing requirements for the past 90 days.
- New certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are included, with specific omissions related to the absence of financial statements in this amendment.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2011, Howmet Aerospace Inc. kept $0.02.
- Revenue$24.95B100.0%
- Cost of revenue−$20.48B82.1%
- Gross profit$4.47B17.9%
- Operating costs−$3.86B15.5%
- Operating income$614.0M2.5%
- Interest, other & tax−$3.0M0.0%
- Net income$611.0M2.4%
Where FY2011 revenue went
$24.95B- Cost of revenue: $20.48B, 82% of revenue
- Net income: $611.0M, 2.4% of revenue
- R&D: $184.0M, 0.7% of revenue
- SG&A: $1.03B, 4.1% of revenue
- Other operating costs: $2.65B, 11% of revenue
Kept 2.4% as net incomeNet income $611.0M · 2.4%R&D $184.0M · 0.7%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2011filed February 28, 2012Financial Statements
FY2011 against FY2010
| Line item | FY2011FY2010 | Change |
|---|---|---|
| Revenue | $24.95B$21.01B | +18.7% |
| Cost of Revenue | $20.48B$17.17B | +19.3% |
| Gross Profit | $4.47B$3.84B | +16.5% |
| R&D Expenses | $184.00M$174.00M | +5.7% |
| SG&A Expenses | $1.03B$961.00M | +6.9% |
| Operating Expenses | $23.89B— | — |
| Operating Income | $614.00M$262.00M | +134.4% |
| Interest Expense | $524.00M$494.00M | +6.1% |
| Net Income | $611.00M$254.00M | +140.6% |
| EPS (Basic) | $0.57$0.25 | +128.0% |
| EPS (Diluted) | $0.55$0.24 | +129.2% |
| Shares Outstanding (Basic) | 1.06B1.02B | +4.2% |
| Shares Outstanding (Diluted) | 1.16B1.02B | +13.3% |
05—Questions
Frequently Asked Questions
What is the purpose of this filing?
This filing is an amendment (10-K/A) to Alcoa Inc.'s original 2011 Annual Report on Form 10-K. It is filed solely to correct a procedural error by adding the conformed signatures of the Board of Directors to the Power of Attorney exhibit, which were missed in the initial filing.
Does this amendment change Alcoa's financial results for 2011?
No, this amendment does not change any financial statements or other substantive disclosures from the original 10-K filing. It is a technical correction related to an exhibit and does not affect the reported financial performance or operational details for the fiscal year 2011.
What should investors look for in this filing?
Investors should note that this is an administrative filing to correct an exhibit signature. All essential financial and business information for fiscal year 2011 remains as reported in the original 10-K filed on February 16, 2012. This amendment does not provide new insights into the company's performance or outlook.
Why is the company filing an amendment for signatures on a Power of Attorney?
SEC regulations require specific documentation and signatures for certain filings. The Power of Attorney exhibit designates individuals authorized to sign on behalf of the company's directors. The omission of these conformed signatures in the electronic filing was an administrative oversight that needed to be corrected to ensure compliance.
06—Continue