Friday, October 5, 2012

Red State Nebraska Audited Corporate Earnings Up 66% During Obama Administration

From an extensive review of SEC filings, I found 10 Corps headquartered in the Red State of Nebraska with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $100 mil in any of the most recent five fiscal years.

These 10 Largest Nebraska Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $16.1 bil in the most recent fiscal year 2011, which was an increase of a very robust 66% above the Total After-tax Net Income of $9.7 bil generated by these same 10 Largest Nebraska companies just three years earlier in 2008, the last year of the Bush/Cheney Administration.

So if the question to be answered is whether, in the aggregate, these 10 Largest Nebraska Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is yes, and by $6.4 bil better, or by 66% better, as audited earnings performance is measured by the prestigious US Accounting Profession.

So it's not just the Blue States and Swing States which have had their largest and somewhat largest corporations generate very strong earnings growth during the Obama Administration.   Corporations in nearly all Red States, including Nebraska, have done likewise.  This just shows that the Obama Administration has been evenhanded in focusing on creating an excellent US economic environment that have permitted businesses all throughout the country to prosper.

In focusing on the annual total earnings changes, these Nebraska companies had very healthy double-digit percentage total earnings growth in both 2009 and 2010, when both the US House and the US Senate were under Democratic control.  However, these Nebraska companies experienced a double-digit percentage total earnings decline in 2011, after the November 2010 Tea Party election.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 10 Largest Nebraska Corps for each of the most recent five fiscal years.  The clear majority of these 10 Corporations have a December Fiscal Year End (FYE).


2011 2010 2009 2008 2007

Reported Reported Reported Reported Reported

Audited Audited Audited Audited Audited

After-Tax After-Tax After-Tax After-Tax After-Tax

Net Income Net Income Net Income Net Income Net Income

  (Loss) (Loss) (Loss) (Loss) (Loss)

HQs mil $s mil $s mil $s mil $s mil $s
Nebraska Largest Corps
Berkshire Hathaway Omaha 10,746 13,494 8,441 5,596 13,567
Union Pacific Omaha 3,292 2,780 1,890 2,335 1,848
TD Ameritrade Omaha 638 592 644 804 646
ConAgra Foods Omaha 474 831 630 530 582
Valmont Industries Valley 237 100 154 136 97
NelNet Lincoln 204 189 139 27 35
Buckle Kearney 151 135 127 104 75
Cabelas Sidney 143 112 50 76 88
West Corp Omaha 127 60 91 17 21
Werner Enterprises Omaha 103 80 57 68 75

Total all 10 Largest Nebraska Corps 16,115 18,373 12,223 9,693 17,034

Annual Increase (Decrease)

(2,258) 6,150 2,530 (7,341)
-12% 50% 26% -43%

Three Year Increase (2008-2011) Under Obama