Non-GAAP Adjusted After-tax Net Income, which is generally used by the investment community to value common stocks, was used when this amount was disclosed in the company's earnings release, and it excludes Special, Unusual Items which are significant in amount relative to Reported GAAP Net Income.
How did these 3 US Big Conglomerate Corps do on the earnings front in 2012? Very well.
The Total Non-GAAP Adjusted After-tax Net Income of these 3 US Big Conglomerate Corps was $29.6 bil in annual 2012, up a robust 10.6% over 2011.
And on an Earnings Per Share basis, the total growth was an even more robust 12.0%, due to largest earner General Electric having a huge common stock buyback program.
The huge GE had a very solid earnings year in 2012 and the exceptionally well run Berkshire Hathaway had a superb earnings year in 2012.
Below here is the Non-GAAP Adjusted After-tax Net Income for both annual 2012 and 2011 for each of these 3 US Conglomerate Corps:
|mils of $s||mils of $s||mils of $s|
|Total of all 3||29,630||26,783||2,847||10.6%||12.0%||1.4%|