Iowa Corporate 2011 Annual Earnings, Sans US Defense Contractor, More Than Double From 2009 Under Obama

I found six Corporations, plus one late addition, headquartered in Iowa, which file with the SEC, and which had Pretax Income or Pretax Loss of more than $100 mil in any of the most recent three years.

The very well run Aircraft Parts and Equipment US Defense Contractor Rockwell Collins had its 2011 Pretax Income increase 7% over 2010, but which was flat with that earned in 2009.

The remaining five Iowa Corps had their Total Pretax Income in 2011 increase by a robust 19% over 2010, and by an off-the-charts 104% over 2009.

In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairments and Gains and Losses on Debt Retirements.

Iowa citizens should be extremely proud of the operating performance in the most recent two years of their fine Iowa Corporations.

Clearly, the Obama Administration has created an economic environment in the past two years that has permitted these Iowa Corporations to thrive. 

Below here are the Iowa headquarters location and Sector of each of these six Iowa Corporations.

Iowa Corporation	Iowa HQs	Sector
Rockwell Collins	Cedar Rapids	Aircraft Parts and Equipment: US Defense Contractor
Principal Financial	Des Moines	Retirement Savings, Investments and Insurance
Sauer Danfoss	Ames	Manufacturing: Mobile Hydraulics
Meredith	Des Moines	Publishing
Caseys General Stores	Ankeny	Retail
FBL Financial Group	West Des Moines	Life Insurance

Late Addition

American Equity Investment Life West Des Moines Life Insurance

And below here is the Pretax Income (PTI) and Pretax Loss (PTL) of these six Iowa Corps for each of the most recent three years, with the most recent fiscal year ends ranging from April 2011 to December 2011.

					Obama
					Bump
				PTI(L)	PTI(L)
				1 Year	2 Year
	PTI(L)	PTI(L)	PTI(L)	%	%
	2011	2010	2009	Change	Change
	mils $s	mils $s	mils $s
Iowa
US Defense Contractor
Rockwell Collins	855	796	858	7%	0%
The Rest
Principal Financial	988	841	746	17%	32%
Sauer Danfoss	339	195	(220)	74%	254%
Meredith	212	167	143	27%	48%
Caseys General Stores	151	182	139	-17%	9%
FBL Financial Group	108	122	74	-11%	46%
Total all 5 Rest	1,798	1,507	882	19%	104%

Late Addition

American Equity Investment Life

133

65

86

105%

55%