Indiana Companies Substantially Underperform on an Earnings Basis in the Seven Years (2011-2017) of 9th District Republicans Trey Hollingsworth and Todd Young's Terms in Office, While These Same Indiana Companies Substantially Outperformed in the Immediately Preceding Two Years (2009 and 2010) When Democrat Baron Hill Held This Office ....................................................................................

The highly effective National Indivisible Organization has endorsed Progressive Democratic candidate Liz Watson, who is running for Indiana 9th District US House seat which is currently held by Republican incumbent Trey Hollingsworth.  With this Organization's very high standards, it has only endorsed 64 candidates nationally.

There were 23 Indiana Companies which filed audited financial statements both for the December 2008 year and also consecutively through the most recent year ended December 2017 and which also had stock market caps of above $1 bil recently.

Nearly all Republicans, a high percentage of Independents and even many perceptive Democrats all agree as a starting point that for US capitalism to work properly, Companies must generate in the aggregate reasonably healthy profits.

The problem here is that Indiana Companies in the aggregate have not generated reasonably healthy profits in the past seven years.

These 23 Indiana Cos posted Audited Gold-Plated US GAAP Total Pretax Income From Continuing Operations of $16.010 Bil in the Annual Year Ended December 2017, which is down 4.4% from their comparable total earnings of $16.744 Bil in the Annual Year Ended 2010.  This covers Republicans Todd Young and Trey Hollingsworth's seven annual years in office, which started with the Tea Party Wave of 2010.

The US financial meltdown just crushed Indiana, just like it did many other US States.  For the Annual Year Ended December 2008, these 23 Indiana Companies Posted Audited Gold-Plated US GAAP Total Pretax Income From Continuing Operations of only $4.863 Bil.

But then the comparable Total Pretax Earnings of these same 23 Indiana Cos just soared like a rocket in 2009, up by an off-the-charts 184%, increasing from $4.863 Bil in Annual 2008 to $13.816 Bil in Annual 2009.

And in Annual 2010, these same Total Earnings increased by another 21% to $16.744 Bil, resulting in a compounded two-year increase of 244%.

So who held this key 9th District seat when these Indiana Companies earnings expanded so incredibly high in the two years 2009 and 2010?  Democrat Baron Hill.

From SEC filings, the below chart shows the Audited US GAAP Pretax Income (Loss) From Continuing Operations for each of these 23 fine Indiana Companies for the most recent three years (2017, 2016 and 2015) and also for the 2008 US Meltdown Year and the Two Recovery Years of 2009 and 2010:

				2017	2016	2015		2010	2009	2008
				Audited	Audited	Audited		Audited	Audited	Audited
				Pretax	Pretax	Pretax		Pretax	Pretax	Pretax
				Income	Income	Income		Income	Income	Income
				(Loss)	(Loss)	(Loss)		(Loss)	(Loss)	(Loss)
Indiana Companies				From	From	From		From	From	From
With December Year Ends			Most	Continuing	Continuing	Continuing		Continuing	Continuing	Continuing
Stock Market Caps > $1 Bil			Recent	Operations	Operations	Operations		Operations	Operations	Operations
			FYE	$ mils	$ mils	$ mils		$ mils	$ mils	$ mils
Anthem	Indianapolis	IN	Dec 17	3,964	4,555	4,631		4,354	7,403	3,122
Cummins	Columbus	IN	Dec 17	2,365	1,930	2,025		1,617	640	1,178
Simon Property Group	Indianapolis	IN	Dec 17	2,245	2,135	2,139		754	387	600
Eli Lilly	Indianapolis	IN	Dec 17	2,197	3,374	2,790		6,525	5,358	(1,308)
Steel Dynamics	Fort Wayne	IN	Dec 17	935	564	(242)		213	(18)	735
Allison Transmission	Indianapolis	IN	Dec 17	527	341	289		83	(283)	(291)
CNO Financial Group	Carmel	IN	Dec 17	481	353	368		294	174	4
Zimmer Biomet Holdings	Warsaw	IN	Dec 17	465	400	153		860	998	1,122
NiSource	Merrillville	IN	Dec 17	443	510	340		436	396	557
OneMain Holdings	Evansville	IN	Dec 17	431	356	(226)		1,202	(1,074)	(951)
KAR Auction Services	Carmel	IN	Dec 17	398	355	341		97	34	(248)
Duke Realty Corp	Indianapolis	IN	Dec 17	290	298	184		28	(260)	79
Vectren	Evansville	IN	Dec 17	262	325	297		208	197	205
LCI Industries	Elkhart	IN	Dec 17	213	199	114		45	(36)	19
Old National Bancorp	Evansville	IN	Dec 17	169	200	163		43	(7)	62
First Merchants Corp	Muncie	IN	Dec 17	134	109	91		3	(69)	29
Wabash National Corp	Lafayette	IN	Dec 17	123	185	163		(142)	(105)	(109)
Patrick Industries Inc	Elkhart	IN	Dec 17	113	84	66		1	(6)	(77)
Franklin Electric Co	Fort Wayne	IN	Dec 17	105	104	86		55	39	68
1st Source Corp	South Bend	IN	Dec 17	101	89	89		60	32	46
Lakeland Financial Corp	Warsaw	IN	Dec 17	90	77	69		37	28	29
Kite Realty Trust	Indianapolis	IN	Dec 17	14	3	29		(9)	5	10
Endocyte	Lafayette	IN	Dec 17	(55)	(44)	(41)		(20)	(17)	(18)
Total all 23 Indiana Cos				16,010	16,502	13,918		16,744	13,816	4,863
% Change vs Prior Year				-3.0%	18.6%			21.2%	184.1%
% Change 2017 vs 2010				-4.4%
% Change 2010 vs 2008				244.3%

So what about the After-Tax Net Income numbers?  Well, they were even more pronounced ..... Down 6.5% in the seven years from 2010 to 2017 and up 807% in the two years from 2008 to 2010.

From SEC filings, the below chart shows the Audited US GAAP After-Tax Net Income (Loss) From Continuing Operations for each of these 23 fine Indiana Companies for the most recent three years (2017, 2016 and 2015) and also for the 2008 US Meltdown Year and the Two Recovery Years of 2009 and 2010:

				2017	2016	2015		2010	2009	2008
				Audited	Audited	Audited		Audited	Audited	Audited
				After-Tax	After-Tax	After-Tax		After-Tax	After-Tax	After-Tax
				Net	Net	Net		Net	Net	Net
				Income	Income	Income		Income	Income	Income
				(Loss)	(Loss)	(Loss)		(Loss)	(Loss)	(Loss)
Indiana Companies				From	From	From		From	From	From
With December Year Ends			Most	Continuing	Continuing	Continuing		Continuing	Continuing	Continuing
Stock Market Caps > $1 Bil			Recent	Operations	Operations	Operations		Operations	Operations	Operations
			FYE	$ mils	$ mils	$ mils		$ mils	$ mils	$ mils
Anthem	Indianapolis	IN	Dec 17	3,843	2,470	2,560		2,887	4,746	2,491
Simon Property Group	Indianapolis	IN	Dec 17	2,245	2,135	2,139		754	387	600
Zimmer Biomet Holdings	Warsaw	IN	Dec 17	1,813	305	146		597	717	850
Cummins	Columbus	IN	Dec 17	994	1,456	1,470		1,140	484	818
Steel Dynamics	Fort Wayne	IN	Dec 17	806	360	(145)		130	(11)	455
Allison Transmission	Indianapolis	IN	Dec 17	504	215	182		30	(324)	(328)
KAR Auction Services	Carmel	IN	Dec 17	362	222	215		70	23	(216)
Duke Realty Corp	Indianapolis	IN	Dec 17	291	298	188		29	(254)	86
Vectren	Evansville	IN	Dec 17	216	212	197		134	133	129
OneMain Holdings	Evansville	IN	Dec 17	183	243	(93)		1,454	(642)	(1,346)
CNO Financial Group	Carmel	IN	Dec 17	176	358	271		285	86	(410)
LCI Industries	Elkhart	IN	Dec 17	133	130	74		28	(24)	12
NiSource	Merrillville	IN	Dec 17	129	328	199		295	231	371
Wabash National Corp	Lafayette	IN	Dec 17	111	119	104		(142)	(102)	(126)
Old National Bancorp	Evansville	IN	Dec 17	96	134	117		38	14	62
First Merchants Corp	Muncie	IN	Dec 17	96	81	65		7	(41)	21
Patrick Industries Inc	Elkhart	IN	Dec 17	86	56	42		1	(5)	(67)
Franklin Electric Co	Fort Wayne	IN	Dec 17	79	79	74		40	27	45
1st Source Corp	South Bend	IN	Dec 17	68	58	57		41	25	33
Lakeland Financial Corp	Warsaw	IN	Dec 17	57	52	46		25	19	20
Kite Realty Trust	Indianapolis	IN	Dec 17	14	3	29		(9)	5	10
Endocyte	Lafayette	IN	Dec 17	(55)	(44)	(41)		(20)	(17)	(18)
Eli Lilly	Indianapolis	IN	Dec 17	(204)	2,738	2,408		5,070	4,329	(2,072)
Total all 23 Indiana Cos				12,043	12,008	10,304		12,884	9,806	1,420
% Change vs Prior Year				0.3%	16.5%			31.4%	590.6%
% Change 2017 vs 2010				-6.5%
% Change 2010 vs 2008				807.3%

There are only 3 additional Indiana Cos meeting the above criteria except that they have other than a December fiscal year end: Berry Plastics Group which has a very strong earnings trend, Thor Industries which has a strong earnings trend and Hillenbrand.

Also, there will be other US States whose Cos will have similar total earnings trends to that of the above total earnings trend of these 23 Indiana Cos.  

My clear conclusion is that the Tea Party Wave of 2010 has severely harmed Total Indiana Company profits of the past seven years.  And it has also done so all over the country.