In this Part One, below here is the Annual Pretax Income (PTI) for the most recent three years of all US Big Corps filing with the SEC which have fiscal year ends from February through November.
For Corps HQed in the Big 2 US States (Texas and New York), where the bulk of the extremely profitable Big Oil and Big Financial Corps are HQed, I am defining US Big Corps as ones which have Annual Pretax Income or Pretax Loss of $200 mil or more in any of the most recent three fiscal year ends.
For Corps in all of the other 48 US States, I am defining US Big Corps as ones which have Annual Pretax Income or Pretax Loss of $100 mil or more in any of the most recent three fiscal years.
As you can see below, the Obama Administration has created a robust economic environment which has permitted nearly all of these 245 US Big Corps to flat-out flourish.
There are a handful of US Big Corps which haven't released their 2011 Fiscal Year ended November 2011 annual earnings yet, and thus they weren't included in the below 245 US Big Corps.
These 245 US Big Corps generated Total Pretax Income growth of a very strong 22% in the most recent year and of a spectacular 66% in the most recent two years. Because of the widespread use of both much lower effective income tax rates and substantial stock buybacks, the equivalent Total Earnings Per Share (EPS) growth for these 245 US Big Corps for the most recent two years should be in the range of 75% to 80%.
The economic initiative that drove this robust earnings growth more than any other was the 100% first-year tax expensing of equipment. Unfortunately, this initiative did not translate into robust employment because there was no requirement that very large US businesses had to increase their full-time payroll counts to be eligible for this incredibly lucrative tax incentive. Clearly another case of the US Congress legislating for the 1% over the 99%.
..........................................................................................Obama
...........................................................................................Bump
..................................Fiscal.......................................PTI.....PTI
...................................Year...PTI.......PTI........PTI....1YR....2YR
...................................End...2011.....2010.....2009..%Chge.%Chge
.............................................(millions of dollars)
Technology
Apple.........................Sep..34,205..18,540...12,066...84%...183%
Microsoft...................Jun..28,071..25,013...19,821....12%....42%
Oracle........................May..11,411....8,243....7,834....38%....46%
Hewlett Packard(1)....Oct...10,898..10,974....9,415.....-1%.....16%
Cisco Systems............Jul.....7,825....9,415....7,693...-17%......2%
Qualcomm(2).............Sep....5,687....4,493....3,416....27%....66%
Accenture.................Aug....3,512.....2,914....2,678....21%....31%
Applied Materials.......Oct....2,378....1,387.....(486)....71%...589%
ADP...........................Jun....1,933....1,863.....1,900......4%......2%
TE Connectivity(3).....Sep....1,629....1,558......(123)......5%..1424%
CA.............................Mar....1,209....1,152.....1,049......5%....15%
KLA Tencor(4)...........Jun....1,110.......291......(156)...281%...812%
Analog Devices..........Oct.....1,061.......902......297.....18%...257%
Adobe Systems..........Nov....1,035......943......702.....10%......47%
Agilent Technol(5).....Oct.....1,032......560..........7.....84%.14643%
CSC............................Mar.......968....1,022......950.....-5%.......2%
Intuit..........................Jul.......966.......815......653.....19%.....48%
Harris Corp(6)............Jun.......881.......840......741......5%.....19%
Lam Research(7).......Jun........801.......430.....(167)...86%...580%
Netapp(8)..................Apr.......794.......447......137....78%...480%
Paychex.....................May......792.......729......812......9%.....-2%
Western Digital...........Jun.......780....1,520......501...-49%....56%
Xilinx.........................Mar.......771.......422......458....83%....68%
Symantec(9)..............Mar.......729.......865......869...-16%...-16%
Linear Technology.....Jun.......724.......490......369....48%....96%
Maxim Integr(10)......Jun.......662.......300........86...121%...670%
Flextronics(11)..........Mar.......616.......182.....(180)..238%..442%
Seagate Technol(12)...Jun.......579....1,569.....(494)..-63%..217%
Micron Technol(13)...Aug.......551....1,483...(1,852)..-63%..139%
BMC Software(14).......Mar.......531......504.......414......5%....28%
Jabil Circuit(15).........Aug.......481......247.........18....95%..2572%
Microchip Technol....Mar........461......238.......232....94%....99%
National Semicond....May.......403......269.......114....50%...254%
Amdocs.....................Sep........385......366.......418......5%.....-8%
F5 Networks..............Sep........361......238.......132....52%...173%
Skywks Solutions.......Sep........294......195........70....51%...320%
CACI Intl...................Jun........228......168......153....36%....49%
Synopsys...................Oct........219......199......233....10%.....-6%
Micros Systems.........Jun........210......168......147....25%....43%
JackHenry&Assoc.....Jun........208......181......157....15%....32%
Cree..........................Jun.........178.....205.......40...-13%...345%
Intl Rectifier(16).......Jun........158........29.....(133)..445%..219%
Compuware(17)........Mar........155......157......213.....-1%...-27%
Red Hat.....................Feb.........154.....122......122.....26%....26%
TIBCO Software.........Nov........150......111.......90.....35%....67%
Logitech...................Mar........148........84......127.....76%....17%
Qlogic.......................Mar........145......110......169.....32%...-14%
RF Micro Dev(18)......Mar.......124........85.....(260)...46%...148%
Sanmina-SCI(18A).....Sep........116......125.....(113)....-7%...203%
Scansource...............Jun.........111........76.......76.....46%....46%
Parametric Tech........Sep........105........82.......17.....28%...518%
Finisar(18B)..............Apr........101.........1.......(19).10000%.632%
LTX-Credence...........Jul..........60........18.....(137)...233%...144%
JDS Uniphase(18C)...Jun..........46......(70)....(167)...166%...128%
Aspen Tech..............Jun.........(44).....(101)......54.....56%..-181%
Electronic Arts(19)..Mar.......(279)....(706)...(487)...60%....43%
Total 56 Technology.......128,819..102,463..70,676..26%...82%
Broad-Based Manufacturing
Deere........................Oct.....4,223....3,025....1,339...40%...215%
Emerson Electric......Sep.....3,631....2,879....2,450...26%....48%
Parker Hannifin........Jun.....1,414.......755.......683...87%...107%
Joy Global................Oct........896.......679.......683...32%....31%
RockwellAutomat.....Sep.......868.......544.......274...60%...217%
Molex(20)................Jun.......430.......168.......(21)..156%.2148%
Pall Corp..................Jul........420.......328.......271...28%....55%
AVX.........................Mar.......334.......176........97...90%...244%
Nordson(21).............Oct.......315........231.......116...36%...172%
Donaldson................Jul........312.......230.......161...36%....94%
Valspar(22)..............Oct.......307.......319.......238...-4%....29%
Kennametal..............Jun.......296........77.......(12).284%.2567%
RPM Intl...................May......295......268.......181...10%....63%
Rock-Tenn(23)..........Sep.......256......266.......264...-4%.....-3%
Greif..........................Oct.......243......252.......138...-4%....76%
Woodward................Sep.......188......155.......122...21%....54%
WorthingtonInd(24).May......183......113.......(44)...62%...516%
Schnitzer Steel..........Aug.......181......125.......(47)..45%...485%
Actuant(25).............Aug.......159.......89........58....79%...174%
Acuity Brands..........Aug.......158......119.......127...33%....24%
Esterline Technol.....Oct........158......155.......118.....2%....34%
Hillenbrand..............Sep.......158......146.......161.....8%.....-2%
Brady.......................Jul........144......109........97...32%....48%
WMS Industries........Jun.......124......171.......140..-27%...-11%
Matthews..................Sep.......112......110........91......2%....23%
CarpentrTech(25A)..Jun.......112.......33..........7..239%..1500%
Kemet(26)................Mar.......104.....(22)....(103).573%...201%
Herman Miller..........May......103........35........99..194%......4%
SpectrumBrnds(27)..Sep........49......(121)........15..140%...227%
CommerclMtls(28)...Aug.........9......(205).........2..104%...350%
Totl 30 Broad-basedMfg..16,182...11,209..7,705...44%...110%
Financial
Visa.........................Sep....5,656....4,638....4,000...22%....41%
DiscovFinSvcs(29)..Nov....3,511....1,269.......229..177%.1433%
ToyotaMotorCredt..Mar...3,003....1,679...(1,052)..79%...385%
Franklin Resrcs.......Sep....2,624....2,070.....1,289...27%...104%
TD Ameritrade........Sep....1,016.......912.....1,059....11%.....-4%
H&R Block...............Apr......677......784.......839...-14%...-19%
Raymond James......Sep......451.......356.......236....27%....91%
Jeffries Group.........Nov......419.......397.......508.....6%...-18%
Eaton Vance............Oct......384.......327.......207....17%....86%
Legg Mason(30)......Mar......365.......330...(1,880)...11%...119%
Global Payments.....May......324.......310.......292.....5%....11%
Amerco...................Mar......289.......100........23..189%.1157%
Broadridge..............Jun......270.......342.......346..-21%...-22%
Factset Research.....Aug......239.......222.......212.....8%....13%
Washington Fedl......Sep......174.......123.........76...41%...129%
World Acceptance...Mar......143.......119.........92...20%....55%
Royal Gold..............Jun.......116........44.........63..164%....84%
CapitolFedFin(30A).Sep.......97.......105........105...-8%....-8%
Total 18 Financial..........19,758..14,127.....6,644..40%...197%
Health Care
Walgreens(31)........Aug....3,860...3,373...3,164....14%....22%
Medtronic(32)........Apr....3,723...3,969...3,061....-6%.....22%
Covidien Ltd...........Sep....2,216....1,926...1,807....15%....23%
McKesson(33).........Mar...1,848....1,864...1,557.....-1%....19%
Becton Dickinson.....Sep...1,716....1,661...1,579......3%......9%
Cardinal Health.......Jun....1,518....1,212...1,160....25%....31%
Forest Labs.............Mar...1,338.......951.....971....41%....38%
AmerisourceBerg....Sep....1,131....1,028.....824....10%....37%
Varian Med Syst......Sep......589.......533.....475....11%....24%
Perrigo...................Jun......451.......309.....206....46%...119%
CareFusion.............Jun......415.......341.....338....22%....23%
Patterson...............Apr......356.......339.....320......5%....11%
ResMed..................Jun......304.......261.....202....16%....50%
Hill-RomHldgs(34)..Sep.....207......162.......94....28%...120%
Cooper Cos(34A)....Oct......209......124......115....69%....82%
Steris(34B).............Mar......204......192.....166......6%....23%
Hologic(35)............Sep......172.......165.....190......4%.....-9%
Techne...................Jun......165.......156.....155......6%......6%
Myriad Genetics.....Jun......160.......141.....136....13%....18%
Coherent(35A).......Sep......124........58.....(17)..114%...829%
PSSWorldMedcl......Mar......119.......110......84......8%....42%
Haemonetics(36)....Mar......110.......97.......85....13%....29%
II-VI Inc................Jun......102........51.......46...100%...122%
Iasis HC(37)............Sep.......95.......121.....131...-21%...-27%
Biomet(38).............May.....(124)...(142)..(369)...13%....66%
Rite Aid(39)............Feb.....(546)...(480)..(773)..-14%....29%
Total 26 Health Care.....20,462..18,522..15,707...10%...30%
Retail
Costco....................Aug....2,383....2,054...1,727....16%....38%
Best Buy(40)...........Feb....2,078....2,195...1,877.....-5%....11%
Starbucks................Sep....1,811.....1,437.....560....26%...223%
Autozone...............Aug....1,324.....1,161...1,034....14%....28%
BedBath&Beyond....Feb....1,293.......985......683....31%....89%
Darden Rests..........May......648.......544......513....19%....26%
FamilyDollarStrs....Aug......617.......564......451......9%....37%
CarMax..................Feb......613........452........97....36%...532%
WholeFoodsMkt.....Sep......552........412.......251....34%...120%
Supervalu(41)........Feb......347........632......745...-45%...-53%
SallyBeautyHldgs...Sep......336........228......165.....47%...104%
Ascena Retail.........Jul.......284........209......102....36%...178%
CoPart...................Jul.......264........239.......228....10%....16%
Ruddick.................Sep......181........158.......152.....15%....19%
AmergasPrtns(42).Sep......179........171.......190......5%.....-6%
CaseysGenlStrs......Apr......151........182.......139...-17%.......9%
Jack in the Box......Sep.......126.......106.......211.....19%...-40%
99CentStrs(42A)..Mar.......118.........94.........24.....26%...392%
Cracker Barrel......Jul........116........116........90......0%.....29%
Finish Line...........Feb.......110.........72.........51.....53%...116%
Zale......................Jul......(110).....(125).....(219)...12%....50%
Total 21 Retail..............13,421...11,886....9,071...13%....48%
Foods
ArcherDanMdlnd..Jun....3,015....2,585....2,500....17%....21%
General Mills........May....2,428....2,205....1,942....10%....25%
HJ Heinz...............Apr....1,374....1,290....1,320.....7%.....4%
ConAgra Foods.....May....1,225....1,081......908....13%....35%
Campbell Soup......Jul.....1,168....1,242....1,079....-6%.....8%
Tysons Foods(43).Sep....1,074....1,203........17...-11%..6218%
Hormel Foods.......Oct.......719......625.......528....15%....36%
JM Smucker..........Apr......717......731.......396....-2%....81%
SmithfieldFds(44).Apr......636.....(215)....(382)...396%..266%
Sara Lee(45).........Jun......542......573.......462....-5%....17%
Ralcorp(46)..........Sep......400......354.......350....13%....14%
DelMnteFds(46A).Apr......360......382.......227....-6%....59%
Green Mtn Coffee..Sep......303......133.........88...128%...244%
MN-DakFrmCoop.Aug......187......101.........96....85%....95%
Lancaster Colony..Jun......162......175.......137....-7%....18%
Cal-Maine Foods...May.......92......103.......121...-11%...-24%
Sanderson Farms..Oct......(194).....207......128.-194%.-252%
Total 17 Foods..............14,208..12,775..9,917...11%....43%
Other Sectors
Procter&Gamble......Jun....15,189....15,047...14,413......1%.....5%
Walt Disney..............Sep.....8,043.....6,627.....5,658....21%....42%
News Corp(47).........Jun.....4,177.....3,323.....2,161....26%....93%
Viacom....................Sep.....3,245.....2,838.....2,417....14%....34%
Nike(48)..................May.....2,844.....2,517.....2,358....13%....21%
Mosaic(49)..............May.....2,585.....1,190.....2,233...117%....16%
Monsanto................Aug.....2,374.....1,490.....2,918....59%...-19%
FedEx(50)...............May.....2,265.....1,894.....1,577....20%....44%
JohnsnContrls(51)...Sep.....2,111......1,763......(207)...20%..1120%
Carnival..................Nov.....1,912......1,979.....1,806....-3%.....6%
Tyco Intl(52)...........Sep.....1,893......1,270.......935....49%...102%
Sysco......................Jun.....1,827......1,850.....1,771....-1%.....3%
AirProducts&Chm...Sep.....1,661.......1,394........837....19%....98%
PrecisionCstprts......Mar.....1,510......1,412.....1,575.....7%....-4%
Coach......................Jun.....1,301......1,158.......983....12%....32%
Apollo Group(53)....Aug.....1,174......1,364.....1,148...-14%.....2%
CHS.........................Aug.....1,148........584.......504....97%...128%
Estee Lauder............Jun.....1,026........688.......343....49%...199%
Avnet(54)................Jun.......871........585.......316....49%...176%
Rockwell Collins.......Sep.......855........796.......858.....7%.....0%
Brown Forman.........Apr.......829........682.......630....22%....32%
Polo Ralph Lauren....Mar......825........689.......588....20%....40%
Clorox(55)...............Jun.......821........805.......709.....2%....16%
Helmlerich&Payne....Sep......687........438.......598....57%....15%
ConstelltnBrnds(56).Feb.......551........362.......193....52%...185%
Jacobs Enginring......Sep.......517........392.......624....32%...-17%
DeVry......................Jun.......494........413.......237....20%...108%
Airgas(57)...............Mar.......450........355.......429....27%.....5%
Dolby Labs..............Mar.......441........437.......371.....1%....19%
Alliant Tech(58)......Mar.......439........473.......407....-7%.....8%
IntlGameTechn(59).Sep.......428........369.......291....16%....47%
Oshkosh(60)...........Sep.......417......1,212........12...-66%..3375%
Energizer Hldgs.......Sep.......406........543.......445...-25%....-9%
Cintas(61)...............May.......393........344.......411....14%....-4%
Aecom Technol.......Sep.......384........341.......278....13%....38%
Natl Fuel Gas(62).....Sep.......372........356.......339.....4%....10%
Education Mgt(63)...Jun.......369........297.......166....24%...122%
MSC Ind Direct........Aug.......349........241.......202....45%....73%
Towers Watson........Jun.......327........170.......222....92%....47%
Atwood Oceanics.....Sep.......325........320.......296.....2%....10%
Navistar..................Oct.......320........290.......359....10%...-11%
Atmos Energy.........Sep.......313........323.......281....-3%....11%
Transdigm(64)........Sep.......301........251.......251....20%....20%
Universal Corp........Mar......243........257.......197....-5%....23%
Triumph..................Mar......234........126.......136....86%....72%
JohnWiley&Sons.....Apr.......231........200.......164....16%....41%
Meredith(65)..........Jun.......212........167.......143....27%....48%
Cabot Corp..............Sep.......203........166.......(99)...22%...305%
ScottsMiracleGro....Sep.......195........320.......208...-39%....-6%
Toro.......................Oct.......175........141.........96.....24%....82%
HarmnIndstrs(66)..Jun.......160.........49......(211)..227%...176%
Meritor...................Sep.......159.........76.......(52)..109%...406%
AmerGreetngs(67)..Feb.......156........121........15....29%...940%
Thor Industries(68).Jul.......153........171........33...-11%...364%
AppldIndTech(69)..Jun.......153........105.......103....46%....49%
EnerSys..................Mar.......151..........87.......119....74%....27%
Tidewater...............Mar.......148........268.......492...-45%...-70%
Bally Technol.........Jun........143........171.......185...-16%...-23%
Plantronics.............Mar.......141........101........58....40%...143%
Tetra Tech..............Sep........140........123.......119....14%...18%
BuckeyeTechn(70).Jun.......129..........48........32...169%...303%
BoozAllenHamltn....Mar......128..........49......(515)..161%...125%
United Nat Foods....Jul........126........112.......100....13%....26%
Maximus.................Sep.......126........108........89....17%....42%
Unifirst...................Aug.......121........123.......126....-2%....-4%
AAR.......................May.......109.........68........90....60%....21%
CntrlGrd&Pet(70A).Sep.........48.........88.......104....-45%...-54%
DR Horton..............Sep..........12........100.....(557)..-88%...102%
Ashland..................Sep...........3..........75.....(323)..-96%...101%
Toll Brothers..........Oct........(29)......(117)....(496)...75%....94%
LionsGateEnt(70B).Mar.......(34).......(24)....(176)...-42%....81%
Shaw Group(71).....Aug........(94)......263.......227..-136%..-141%
KB Home................Nov.......(181).....(76).....(311).-138%....42%
Ciena(72)...............Oct.......(188).....(332)....(126)...43%...-49%
Beazer Homes(73)..Sep.......(197).....(193)....(330)...-2%....40%
HovnanianEnt(74).Oct.......(292).....(295)..(1,082)....1%....73%
Avaya(74A)..........Sep.......(549).....(853)....(520)...36%....-6%
Total77inOtherSectors..71,004....61,665...50,981...15%....39%
Total all 245................283,854..232,647..170,701..22%...66%
(1) Hewlett Packard 2011 PTI excludes intangible asset impairment charge, business wind down charges, and acquisition-related foreign currency exchange rate risk charge.
(2) Qualcomm 2009 PTI excludes litigation settlement charges and fine.
(3) TE Connectivity Ltd 2009 PTI excludes goodwill impairment charge.
(4) KLA Tencor 2009 PTI excludes intangible asset impairment charge.
(5) Agilent Technologies 2010 PTI excludes gain on sale of division.
(6) Harris Corp 2009 PTI excludes asset impairment charge.
(7) Lam Research 2009 PTI excludes goodwill impairment charge.
(8) Netapp 2009 PTI excludes GSA settlement charge.
(9) Symantec 2009 PTI excludes intangible asset impairment charge.
(10) Maxim Integrated Products 2009 PTI excludes asset impairment charge.
(11) Flextronics 2010 and 2009 PTI exclude asset impairment charges.
(12) Seagate Technology 2009 PTI excludes asset impairment charge.
(13) Micron Technology 2010 PTI excludes gain on acquisition.
(14) BMC Software 2009 PTI excludes in-process research and development charge.
(15) Jabil Circuit 2009 PTI excludes goodwill impairment charge.
(16) International Rectifier 2009 PTL excludes asset impairment charges and gain on divestiture.
(17) Compuware 2010 PTI excludes gain on asset sale.
(18) RF Micro Devices 2009 PTI excludes goodwill impairment charge.
(18A) Sanmina-SCI 2011 PTI excludes loss on debt extinguishment. Its 2010 PTI excludes gain on debt extinguishment.
(18B) Finisar 2011 and 2010 PTI both exclude loss on debt extinguishment. Its 2009 PTL excludes goodwill impairment charge and acquisition in-process r&d charge.
(18C) JDS Uniphase 2010 PTL excludes gain on sale of investments. Its 2009 PTL excludes goodwill impairment charge.
(19) Electronic Arts 2009 PTI excludes goodwill impairment charge.
(20) Molex 2010 and 2009 PTI excludes asset impairment charges.
(21) Nordson 2009 PTI excludes asset impairment charge.
(22) Valspar 2011 PTI excludes intangible asset impairment charge.
(23) Rock-Tenn 2011 PTI excludes loss on debt extinguishment. Both 2010 and 2009 PTI exclude alternative fuel tax credits.
(24) Worthington Industries 2010 and 2009 PTI exclude asset impairment charges.
(25) Actuant 2009 PTI excludes asset impairment charge.
(25A) Carpenter Technology numbers are for the 12 months ended September.
(26) Kemet 2011 PTI excludes loss on debt extinguishment. Its 2010 PTI excludes gain on debt extinguishment and change in value of warranty charge. Aits 2009 PTI excludes asset impairment charge, gain on asset sale, and gain on pension plan curtailment.
(27) SpectrumBrands 2011 and 2009 PTI excludes intangible asset impairment charges.
(28) Commercisl Metals 2011 PTI excludes asset impairment charge.
(29) Discover Financial Services 2009 PTI excludes antitrust litigation settlement gain.
(30) Legg Mason 2009 PTI excludes intangible asset impairment charge and includes fund support charge.
(30A) Capitol Federal Financial 2011 PTI excludes Foundation contribution.
(31) Walgreens 2011 PTI excludes gain on sale of business.
(32) Medtronic 2009 PTI excludes acquisition-related items, mostly in-process r&d charge.
(33) McKesson 2011 and 2009 PTI exclude special litigation charges.
(34) Hill-Rom Holdings 2011 PTI excludes special litigation charge. Its 2010 PTI excludes special litigation credit. Its 2009 PTI excludes intangible asset charge.
(34A) Cooper Companies 2011 PTI excludes loss on debt extinguishment.
(34B) Steris 2011 PTI excludes SYSTEM 1 Rebate Program and Class Action Settlement Charge.
(35) Hologic 2011 PTI excludes gain on sale of assets and loss on debt extinguishment. Its 2010 and 2009 PTI exclude intangible asset impairment charges.
(35A) Coherent 2009 PTI excludes goodwill impairment charge.
(36) Haemonetics 2010 PTI excludes asset impairment charge.
(37) Iasis Healthcare 2011 PTI excludes loss on debt extinguishment. Its 2009 PTI excludes goodwill impairment charge.
(38) Biomet 2011 and 2009 PTL exclude intangible asset impairment charges.
(39) Rite Aid 2009 PTL excludes goodwill impairment charge.
(40) Best Buy 2009 PTI excludes asset impairment charge.
(41) Supervalu 2011 and 2009 PTI exclude intangible asset impairment charges.
(42) Amerigas Partners 2011 PTI excludes loss on debt extinguishment. Its 2009 PTI excludes gain on asset sale.
(42A) 99 Cents Only Stores 2009 PTI excludes asset impairment charge.
(43) Tysons Foods 2009 PTI excludes goodwill impairment charge.
(44) Smithfield Foods 2011 PTI excludes gain on insurance recovery.
(45) Sara Lee 2011 PTI excludes loss on debt extinguishment. Its 2010 and 2009 PTI both exclude contingent sale proceeds credit. Its 2009 PTI also excludes asset impairment charge.
(46) Ralcorp 2011 and 2010 PTI exclude intangible asset impairment charges. Its 2009 PTI excludes gain on asset sale.
(46A) Del Monte Foods 2011 PTI excludes acquisition transaction costs.
(47) News Corp 2009 PTI excludes asset impairment charge and gain on NBS.
(48) Nike 2009 PTI excludes asset impairment charge.
(49) Mosaic 2011 and 2009 PTI both excludes gain on sale of assets.
(50) FedEx 2009 PTI excludes intangible asset impairment charge.
(51) JohnsonControls 2009 PTI excludes debt conversion costs.
(52) Tyco Intl 2009 PTI excludes intangible asset impairment charge.
(53) Apollo Group 2011 and 2010 PTI both exclude intangible asset impairment charges. Its 2010 and 2009 PTI both exclude litigation charges.
(54) Avne 2009 PTI excludes asset impairment charge.
(55) Clorox 2011 PTI excludes goodwill impairment charge.
(56) Constellation Brands 2010 and 2009 PTI exclude intangible asset impairment charges.
(57) Airgas 2011 and 2010 PTI exclude unsolicitated attempted takeover charges. Its 2010 PTI also excludes loss on debt extinguishment.
(58) Alliant Techsystems 2010 and 2009 PTI exclude intangible asset impairment charges.
(59) International Game Technology 2010 and 2009 PTI both exclude asset impairments and losses.
(60) Oshkosh 2009 PTI excludes intangible asset impairment charge.
(61) Cintas 2009 PTI excludes asset impairment charge.
(62) National Fuel Gas 2011 PTI excludes gain on sale of assets. Its 2009 PTI excludes ceiling test charge.
(63) Education Management 2010 PTI excludes loss on debt extinguishment.
(65) Transdigm 2011 PTI excludes refinancing costs charge.
(65) Meredith 2009 PTI excludes intangible asset impairment charge.
(66) Harman Industries 2009 PTI excludes goodwill impairment charge.
(67) American Greetings 2009 PTI excludes intangible asset impairment charge.
(68) Thor Industries 2009 PTI excludes intangible asset impairment charge.
(69) Applied Industrial Technologies 2009 PTI excludes goodwill impairment charge.
(70) Buckeye Technologies 2011 and 2009 PTI exclude asset impairment charges. Its 2010 and 2009 PTI exclude alternative fuel tax credits.
(70A) Central Garden & Pet 2010 PTI excludes intangible asset impairment charge.
(70B) Lions Gate Enterprise 2011 PTI excludes loss on debt extinguishment. Its 2010 PTI excludes gain on debt extinguishment.
(71) Shaw Group 2011, 2010 and 2009 PTI exclude foreign currency translation loss. Its 2011 PTI also excludes asset impairment charge.
(72) Ciena 2009 PTI excludes goodwill impairment charge.
(73) Beazer Homes 2010 and 2009 PTI both exclude gain on debt extinguishment.
(74) Hovnanian Enterprises 2009 PTI excludes gain on debt extinguishment.
(74A) Avaya 2011 PTL excludes loss on debt extinguishment. Its 2009 PTL excludes intangible asset impairment charge.
Later in Part Two, I will be showing similar information for the many more than 1,000 US Big Corps having December and January fiscal year ends. Given the much higher earnings growth of US Big Oil and US Big Financial, the overwhelming majority of which have December year ends, I expect that these much more than 1,000 additional US Big Corps which I will be including in Part Two should have Total EPS growth of much higher than the spectacular growth rates related to the above 245 US Big Corps.
EPS growth drives stock prices.
I think that through its many wise economic initiatives, the Obama Administration has driven the massive US stock market increase of the past 33 months, with the Dow Jones Industrials Index going from 6,547 on March 9, 2009 to 12,294 on Dec 23, 2011.....yeah, that's an increase of 88%.
Without these actions, I am certain that the US economy would have been headed for a deep, lengthy depression.
And the vast majority of the 1% want to now make Obama a one-term President!
That's the thanks he gets.
The Obama Administration is the only part of the US Government that is functioning effectively.
And the vast majority of the 1% thinks it's perfectly acceptable to continue to take their 1% riches to a completely higher level, even if it results in the 99% being further beaten into the ground economically.
I also think you'll see robust Total EPS growth of US Big Corps in 2012. Due mainly to 100% first year tax expensing of equipment purchases in 2011 dropping to 50% in 2012, this EPS growth will be a bit less than that spectacular EPS growth of the past two years, but it will still be very nice EPS growth. Thus I think the US stock market is headed much higher in 2012.....great for the 1%ers.
However, to have a spectacular economic year for all Americans in 2012, both the 1% and the 99%, it would be wise to step up the 50% first-year tax expensing of equipment purchases to 100% in 2012, along with additional highly-charged tax incentives for investments in new buildings, in building improvements (especially green building retrofits), in computer software, and in research and development, but also allowing these massively lucrative tax incentives to the very large US businesses only if they are accompanied by a fairly-designed minimum full-time job increase requirement.
In addition, to help both the 1% and the 99%, the country is shouting out for massive US infrastructure investments.
However, with this US Congress, which is under the control of the 1% and their lobbyists, and which has by far the lowest favorable approval rating of all time, which is richly deserved, these necessary economic initiatives are not going to happen in 2012.
The entire focus of the key Congressional point men facilitators of enhancing the economic status of only the 1%, Eric Cantor and Jeb Hensarling in the US House and Mitch McConnell and Jon Kyl in the US Senate, will continue to be to wreck the US economy for the 99%ers even more in 2012, hoping the result will be that Obama won't get reelected.
Thus the yachts of the 1% will be substantially elevated again in 2012, like they have in each year of the past decade. These 1% yachts have risen so high now that pretty soon they will be airborne.
Now if only similar wise economic initiatives are enacted to lift the boats of the 99%, that have continually submerged toward the bottom of the sea in each year of the past decade.
But since these wise economic initiatives are not going to happen in 2012, the substantial wealth gap between the 1% and the 99% will expand even more dramatically in 2012.
With the US Congress stubbornly and inhumanely continuing to ignore the 99%, I think you will see an Occupy Movement that is demonstrably more robust in 2012 than it was in 2011. I also think that the Occupy Movement will focus more intensely on members of the US Congress, who are the ones mainly responsible for creating this substantial income inequality and all of the many and massive economic injustices.
I think the only way wise economic initiatives are going to happen is for there to be a massive change in the makeup of the US Congress in November 2012, not just a switch in emphasis from the 1% to the 99%, but also many new members with extensive financial expertise, like Massachusetts US Senate Candidate Elizabeth Warren.
US Congressional members with a very high dose of financial savvy are needed to solve the many extremely complex financial issues facing the country. Unfortunately, this critical trait is now so lacking in the US Congress in these very troubled economic times.
This substantial reconfiguration of the US Congress in the November 2012 election would have the potential to make America great again.
============================================
Jan 2012 Late Additions to Above List of 245 US Big Corps
..........................................................................................Obama
...........................................................................................Bump
..................................Fiscal.......................................PTI.....PTI
...................................Year...PTI.......PTI........PTI....1YR....2YR
...................................End...2011.....2010.....2009..%Chge.%Chge
.............................................(millions of dollars)
GT Advanced Tech......Mar....271.....140.........142.....94%.....91%
THQ............................Mar...(135)....(12).......(268).-1025%..50%
Omnivision Tech..........Apr.....129......10.........(30)...1190%.530%
CorinthianColleges(A).Jun....117......241........117.....-51%......0%
Brooks Automation(B).Sep.....83.......56........(119)....48%....170%
Kulicke & Soffa...........Sep.....162......140........(77).....16%...310%
Westco Aircraft..........Sep.....128......118..........96........8%....33%
Cubic Corp.................Sep.....118......106..........85.......11%....39%
Aramark.....................Sep......122.......33.........(24)...270%...608%
Brocade Comm(C)......Oct.......92......107.........27....-14%...241%
Heico..........................Oct.....138......109.........88.....27%.....57%
Synnex.......................Nov....230......184........135.....25%....70%
Lennar.......................Nov......98........95.......(760).....3%...113%
HB Fuller....................Nov....124........96........120......29%.....3%
Clarcor.......................Nov....181.......143........106.....27%....71%
McCormick................Nov.....491......463........417.......6%....18%
Intl Speedway............Nov.....114........75..........48.....52%...138%
Levi Strauss...............Nov.....203......236.........190....-14%.....7%
IHS............................Nov.....162.......173.........159.....-6%......2%
(A) Corinthian Colleges 2011 PTI excludes goodwill impairment charge.
(B) Brooks Automation 2009 PTI excludes asset impairment charges.
(C) Brocade Communication Systems 2011 PTI excludes loss on sale of subsidiary. Its 2009 PTI excludes special litigation charge, in process research & development charge, and intangible asset impairment charge.
