Tennessee Corporate 2011 Annual Earnings Up Sharply Since 2009 Under Obama

I found 28 Corporations…..7 in Health Care and 21 in Other Industries….. headquartered in Tennessee, which file with the SEC, and which had Pretax Income or Pretax Loss of more than roughly $100 mil in any of the most recent three fiscal years. 

The 7 Tennessee Health Care Corps, mostly hospitals, generated Total Pretax Income in 2011 of $3.9 bil, up 10% from 2010, and up 22% from 2009.

The 15 Tennessee Corps in the Other Sectors, excluding the 3 Late Additions, generated Total Pretax Income in 2011 of $9.9 bil, up 13% from 2010, and up a very impressive 74% from 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 both Debt Retirements and Asset Dispositions.  I am also excluding from Pretax Income International Paper's massive amount of Alternative Fuel Mix Tax Credits.

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

Clearly, the Obama Administration has created an economic environment that has permitted these Tennessee Corporations to flat-out flourish. 

Below here is the Pretax Income (PTI) or Pretax Loss (PTL) of these 28 Tennessee Corps for each of the most recent three years, with the most recent fiscal year ends ranging from May 2011 to January 2012.

					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
Tennessee
Health Care
HCA	2,520	2,231	2,002	13%	26%
Communy Health Systems	540	519	448	4%	21%
LifePoint Hospitals	263	241	222	9%	18%
Amsurg	227	213	211	7%	8%
Team Health	115	107	92	7%	25%
National Healthcare	98	81	68	21%	44%
Iasis Healthcare	95	121	131	-21%	-27%
Total all 7 Health Care	3,858	3,513	3,174	10%	22%
The Rest
FedEx	2,265	1,894	1,577	20%	44%
International Paper	1,669	1,201	133	39%	1155%
Autozone	1,324	1,161	1,034	14%	28%
Dollar General	1,225	985	552	24%	122%
Eastman Chemicals	964	751	433	28%	123%
Tractor Supply	351	265	190	32%	85%
Thomas & Betts	259	185	140	40%	85%
Corrections Corp America	259	252	231	3%	12%
Unum Group	257	1,331	1,292	-81%	-80%
Delek US Holdings	248	(25)	(99)	1092%	351%
Clarcor	181	143	106	27%	71%
First Horizon National	150	52	(406)	188%	137%
CBL & Associates Properties	146	125	106	17%	38%
Genesco	139	85	56	64%	148%
BuckeyeTechnologies	129	48	32	169%	303%
Mueller Industries	119	99	53	20%	125%
Cracker Barrel	116	116	90	0%	29%
Regal Entertainment	94	98	157	-4%	-40%
Total all 18 Rest	9,895	8,766	5,677	13%	74%
Total all 25	13,753	12,279	8,851	12%	55%

Late Additions
Caterpillar Financial Services	504	329	320	53%	58%
Servicemaster	149	28	(22)	432%	777%
Noranda Aluminum	100	36	(133)	178%	175%
Total all 28 TN Largest Corps	14,506	12,672	9,016	14%	61%