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.
The Total Non-GAAP Adjusted After-tax Net Income of these 18 US Big Broad-based Manufacturing Corps was $45.7 bil in annual 2012, up 6.4% from 2011. I think this is pretty good, especially considering that in 2012, the US Congress did its very best to stop the US economy to a walk, hoping that President Obama wouldn't get reelected.
Caterpillar did extremely well in 2012, but its earnings declined in the 4Q 2012.
Below here is the Non-GAAP Adjusted After-tax Net Income for both annual 2012 and 2011 for each of these 18 US Big Broad-based Manufacturing Corps:
| EPS | |||||||
| Growth | |||||||
| Annual | Annual | Over | |||||
| 2012 | 2011 | Adjusted | Earnings | ||||
| Non-GAAP | Non-GAAP | EPS | Growth | ||||
| Adjusted | Adjusted | Increase | Increase | Increase | Positive | ||
| Net | Net | (Decrease) | (Decrease) | (Decrease) | % | ||
| FYE | Income | Income | Amount | % | % | Spread | |
| mils of $s | mils of $s | mils of $s | |||||
| Broad-Based Manufacturing | |||||||
| Caterpillar | Dec | 5,961 | 4,928 | 1,033 | 21.0% | 20.3% | -0.7% |
| United Technologies | Dec | 4,847 | 4,831 | 16 | 0.3% | 0.4% | 0.1% |
| Boeing | Dec | 4,491 | 3,961 | 530 | 13.4% | 11.8% | -1.6% |
| 3M | Dec | 4,444 | 4,283 | 161 | 3.8% | 6.0% | 2.2% |
| Honeywell | Dec | 3,548 | 3,206 | 342 | 10.7% | 10.6% | -0.1% |
| Deere | Dec | 3,065 | 2,800 | 265 | 9.5% | 15.1% | 5.6% |
| Emerson Electric | Dec | 2,552 | 2,523 | 29 | 1.1% | 2.7% | 1.6% |
| Danaher | Dec | 2,299 | 1,935 | 364 | 18.8% | 16.6% | -2.2% |
| Corning | Dec | 1,940 | 2,789 | (849) | -30.4% | -26.7% | 3.7% |
| Illinois Tool Works | Dec | 1,935 | 1,840 | 95 | 5.2% | 9.9% | 4.7% |
| Johnson Controls | Dec | 1,783 | 1,697 | 86 | 5.1% | 5.3% | 0.2% |
| Cummins | Dec | 1,621 | 1,754 | (133) | -7.6% | -5.8% | 1.8% |
| Eaton | Dec | 1,384 | 1,360 | 24 | 1.8% | -0.5% | -2.3% |
| Precision Castparts | Dec | 1,232 | 1,011 | 221 | 21.9% | 20.5% | -1.4% |
| PPG Industries | Dec | 1,230 | 1,095 | 135 | 12.3% | 15.6% | 3.3% |
| CNH Global | Dec | 1,179 | 918 | 261 | 28.4% | 26.4% | -2.0% |
| Parker Hannifin | Dec | 1,152 | 1,049 | 103 | 9.8% | 17.0% | 7.2% |
| Ingersoll-Rand | Dec | 1,022 | 958 | 64 | 6.7% | 16.7% | 10.0% |
| Total all 18 Manufacturing | 45,685 | 42,938 | 2,747 | 6.4% | 7.6% | 1.2% |
A late addition manufacturing conglomerate not included in the above is TE Connectivity, which is shown below:
| TE Connectivity | Sep | 1,229 | 1,343 | (114) | -8.5% | -5.6% | 2.9% |
