Saturday, October 6, 2012

Red State Utah Audited Corporate Earnings Up 74% During Obama Administration

From an extensive review of SEC filings, I found 15 Corps headquartered in the Red State of Utah with externally audited under US Generally Accepted Accounting Principles (US GAAP) After-tax Net Income or Net Loss from Continuing Operations of at least $50 mil in any of the most recent five fiscal years.  I have included in these 15 Corps Autoliv, a Swedish Corp, but with substantial operations in the US, and with an SEC State Location Code in Utah.

These 15 Largest Utah Corps filing with the SEC generated Audited US GAAP Total After-tax Net Income from Continuing Operations of $1,627 mil in the most recent fiscal year 2011, which was an increase of a robust 74% above the Total After-tax Net Income of $937 mil generated by these same 15 Largest Utah 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 15 Largest Utah Corps are better off now than they were in the last year of the Bush/Cheney Administration, the answer is yes, and by $690 mil better, or by 74% 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 excellent earnings growth during the Obama Administration.   Corporations in nearly all Red States, including Utah, 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.

Below here is the Audited under US GAAP After-tax Net Income or Net Loss from Continuing Operations for each of these 15 Largest Utah Corps for each of the most recent five fiscal years.  A clear majority of these 15 Corporations have a December Fiscal Year End (FYE).




FYE FYE FYE FYE 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

Utah (Loss) (Loss) (Loss) (Loss) (Loss)

HQs mil $s mil $s mil $s mil $s mil $s
Utah Largest Corps
Autoliv Ogden 627 596 13 172 296
Zions Bancorp Salt Lake City 323 (296) (1,222) (271) 502
Huntsman Salt Lake City 251 (9) 125 512 61
Questar Salt Lake City 208 192 181 172 146
Nu Skin Enterprises Provo 153 136 90 65 44
Northwest Pipeline GP Salt Lake City 153 149 154 155 185
Myriad Genetics Salt Lake City 112 101 152 136 74
Ancestry.com Provo 63 37 21 2 6
Extra Space Storage Salt Lake City 58 33 39 43 35
USANA Health Sciences Salt Lake City 51 46 34 30 46
Lifevantage Sandy 12 (51) (11) (9) (2)
SkyWest St George (27) 96 84 113 159
FX Energy Salt Lake City (29) (1) (1) (55) (12)
Headwaters South Jordan (134) (21) (415) (175) 21
EnergySolutions Salt Lake City (194) (20) 52 47 (9)







Total all 15 Largest Utah Corps 1,627 988 (704) 937 1,552







Annual Increase (Decrease)





…..Amount
639 1,692 (1,641) (615)
…..Percentage
65% 240% -175% -40%







Three Year Increase (2008-2011) Under Obama




…..Amount
690



…..Percentage
74%