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My Focus is on Pretax Income Rather Than After-Tax Net Income Because Income Taxes are Simply a Transfer of Financial Wealth From or To the US Federal, US State and Foreign Governments To or From US Corporations. It Has Nothing Whatsoever to do with Company Operating Performance.
But Even on an After-Tax Net Income Basis, These Same 87 Illinois Companies Generated Audited Total Net Income From Continuing Operations in Obama's Last Two Years in Office (2016 and 2015) Which Increased By an Even More Robust Average of 17.9% From That in the Preceding Years (2015 and 2014) ...... While These Same 87 Illinois Companies Posted Audited Total Net Income From Continuing Operations in Annual 2017, Trump's First Year in Office, Which Increased By an Even More Modest 2.7% From That in Annual 2016
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But Even on an After-Tax Net Income Basis, These Same 87 Illinois Companies Generated Audited Total Net Income From Continuing Operations in Obama's Last Two Years in Office (2016 and 2015) Which Increased By an Even More Robust Average of 17.9% From That in the Preceding Years (2015 and 2014) ...... While These Same 87 Illinois Companies Posted Audited Total Net Income From Continuing Operations in Annual 2017, Trump's First Year in Office, Which Increased By an Even More Modest 2.7% From That in Annual 2016
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Since Former US President Barack Obama will be giving a speech in Champaign-Urbana at the University of Illinois, the historic cradle of CPAs, on tomorrow Friday September 7, 2018, I think it would be helpful to research how Illinois Companies have performed on the earnings front in the First Year 2017 of the Trump Administration and compare it to how they have performed in the Last Two Years 2016 and 2015 of the Obama Administration.
From a review of SEC filings, the first chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Annual Fiscal Years 2017, 2016, 2015 and 2014 along with the related Annual Percentage Changes for 2017, 2016 and 2015 for the 87 Illinois Companies including REITs with December or January Year Ends and with stock market caps above $1 bil recently.
| Obama | Obama | ||||||
| Trump | Obama | Second | Third | ||||
| First | Last | Last | Last | ||||
| Year | Year | Year | Year | ||||
| 2017 | 2016 | 2015 | 2014 | ||||
| Audited | Audited | Audited | Audited | ||||
| Pretax | Pretax | Pretax | Pretax | ||||
| Income | Income | Income | Income | ||||
| (Loss) | (Loss) | (Loss) | (Loss) | ||||
| Illinois Companies | From | From | From | From | |||
| Stock Market Caps Above $1 Bil | City | State | 2017 | Continuing | Continuing | Continuing | Continuing |
| With December and January Year Ends | HQs | HQs | FYE | Operations | Operations | Operations | Operations |
| $ mils | $ mils | $ mils | $ mils | ||||
| McDonalds | Oak Brook | IL | Dec 17 | 8,574 | 6,866 | 6,556 | 7,372 |
| AbbVie | North Chicago | IL | Dec 17 | 7,727 | 7,884 | 6,645 | 2,369 |
| Caterpillar | Deerfield | IL | Dec 17 | 4,098 | 136 | 3,439 | 3,160 |
| Allstate | Northbrook | IL | Dec 17 | 3,991 | 2,754 | 3,282 | 4,236 |
| Exelon | Chicago | IL | Dec 17 | 3,756 | 1,989 | 3,330 | 2,486 |
| Mondelez Intl | Deerfield | IL | Dec 17 | 3,624 | 1,798 | 7,884 | 2,554 |
| Discover Financial Services | Riverwoods | IL | Dec 17 | 3,537 | 3,656 | 3,612 | 3,694 |
| Illinois Tool Works | Glenview | IL | Dec 17 | 3,270 | 2,908 | 2,719 | 2,699 |
| United Continental Holdings | Chicago | IL | Dec 17 | 2,999 | 3,819 | 4,219 | 1,128 |
| CME Group | Chicago | IL | Dec 17 | 2,526 | 2,288 | 1,957 | 1,771 |
| Abbott Labs | Abbott Park | IL | Dec 17 | 2,231 | 1,413 | 3,183 | 2,518 |
| Northern Trust | Chicago | IL | Dec 17 | 1,634 | 1,517 | 1,465 | 1,190 |
| Archer Daniels Midland | Chicago | IL | Dec 17 | 1,609 | 1,822 | 2,284 | 3,130 |
| CNA Financial | Chicago | IL | Dec 17 | 1,310 | 1,137 | 549 | 1,207 |
| Baxter Intl | Deerfield | IL | Dec 17 | 1,217 | 4,954 | 428 | 490 |
| Motorola Solutions | Chicago | IL | Dec 17 | 1,076 | 844 | 917 | (1,161) |
| Dover | Downers Grove | IL | Dec 17 | 974 | 689 | 801 | 1,094 |
| WW Grainger | Lake Forest | IL | Dec 17 | 935 | 1,019 | 1,251 | 1,334 |
| Packaging Corp of America | Lake Forest | IL | Dec 17 | 829 | 689 | 665 | 614 |
| Ulta Beauty | Bolingbrook | IL | Jan 18 | 787 | 656 | 507 | 411 |
| LKQ Corp | Chicago | IL | Dec 17 | 773 | 677 | 643 | 586 |
| Ingredion | Westchester | IL | Dec 17 | 769 | 742 | 599 | 520 |
| Old Republic Intl | Chicago | IL | Dec 17 | 725 | 686 | 632 | 609 |
| CDW Corp | Vernon Hills | IL | Dec 17 | 660 | 672 | 647 | 388 |
| GGP Inc | Chicago | IL | Dec 17 | 656 | 1,309 | 1,355 | 405 |
| Fortune Brands Home&Security | Deerfield | IL | Dec 17 | 635 | 582 | 460 | 392 |
| Equity Residential | Chicago | IL | Dec 17 | 628 | 4,480 | 908 | 657 |
| Ventas | Chicago | IL | Dec 17 | 584 | 523 | 350 | 351 |
| Hyatt Hotels | Chicago | IL | Dec 17 | 573 | 289 | 194 | 525 |
| Jones Lang LaSalle | Chicago | IL | Dec 17 | 525 | 442 | 579 | 486 |
| Idex Corp | Lake Forest | IL | Dec 17 | 455 | 369 | 392 | 392 |
| US Foods Holding | Rosemont | IL | Dec 17 | 404 | 131 | 192 | (37) |
| Wintrust Financial | Rosemont | IL | Dec 17 | 390 | 332 | 252 | 246 |
| Camping World Holdings | Lincolnshire | IL | Dec 17 | 390 | 207 | 176 | 124 |
| Middleby | Elgin | IL | Dec 17 | 384 | 421 | 281 | 281 |
| Arthur J Gallagher & Co | Rolling Meadows | IL | Dec 17 | 378 | 357 | 294 | 292 |
| TransUnion | Chicago | IL | Dec 17 | 373 | 205 | 27 | (2) |
| Tenneco | Lake Forest | IL | Dec 17 | 344 | 424 | 441 | 398 |
| Brunswick | Mettawa | IL | Dec 17 | 343 | 389 | 315 | 288 |
| USG Corp | Chicago | IL | Dec 17 | 335 | 274 | 236 | 33 |
| Cboe Global Markets | Chicago | IL | Dec 17 | 334 | 307 | 324 | 310 |
| AptarGroup | Crystal Lake | IL | Dec 17 | 295 | 280 | 295 | 286 |
| MB Financial | Chicago | IL | Dec 17 | 289 | 253 | 232 | 123 |
| GATX Corp | Chicago | IL | Dec 17 | 258 | 353 | 316 | 281 |
| Retail Properties of America | Oak Brook | IL | Dec 17 | 251 | 167 | 126 | 43 |
| Anixter Intl | Glenview | IL | Dec 17 | 238 | 198 | 183 | 250 |
| Equity Lifestyle Properties | Chicago | IL | Dec 17 | 210 | 187 | 151 | 138 |
| First Industrial Realty Trust | Chicago | IL | Dec 17 | 209 | 127 | 77 | 23 |
| Littelfuse | Chicago | IL | Dec 17 | 204 | 123 | 107 | 132 |
| First Midwest Bancorp | Chicago | IL | Dec 17 | 188 | 139 | 120 | 100 |
| Morningstar | Chicago | IL | Dec 17 | 180 | 225 | 195 | 114 |
| Univar | Downers Grove | IL | Dec 17 | 169 | (80) | 27 | (36) |
| Kemper Corp | Chicago | IL | Dec 17 | 161 | 4 | 100 | 160 |
| ACCO Brands | Lake Zurich | IL | Dec 17 | 158 | 125 | 131 | 137 |
| Kapstone Paper & Packaging | Northbrook | IL | Dec 17 | 148 | 128 | 162 | 261 |
| Stepan | Northfield | IL | Dec 17 | 139 | 114 | 103 | 76 |
| John Bean Technologies | Chicago | IL | Dec 17 | 132 | 94 | 82 | 45 |
| Cars.com | Chicago | IL | Dec 17 | 122 | 177 | 158 | 23 |
| First Busey | Urbana | IL | Dec 17 | 108 | 76 | 60 | 50 |
| Hub Group | Oak Brook | IL | Dec 17 | 91 | 121 | 112 | 82 |
| GrubHub | Chicago | IL | Dec 17 | 90 | 84 | 62 | 45 |
| Horace Mann Educators | Springfield | IL | Dec 17 | 89 | 114 | 129 | 146 |
| Zebra Technologies | Lincolnshire | IL | Dec 17 | 88 | (129) | (180) | 17 |
| RLI Corp | Peoria | IL | Dec 17 | 85 | 157 | 197 | 189 |
| Tootsie Roll Industries | Chicago | IL | Dec 17 | 85 | 98 | 93 | 91 |
| Navigant Consulting | Chicago | IL | Dec 17 | 71 | 93 | 88 | (38) |
| Federal Signal | Oak Brook | IL | Dec 17 | 61 | 57 | 100 | 83 |
| Century Aluminum | Chicago | IL | Dec 17 | 56 | (250) | (50) | 145 |
| CTS Corp | Lisle | IL | Dec 17 | 40 | 57 | 12 | 39 |
| Coeur Mining | Chicago | IL | Dec 17 | 40 | (11) | (317) | (1,615) |
| Enova Intl | Chicago | IL | Dec 17 | 38 | 57 | 71 | 176 |
| Career Education | Schaumburg | IL | Dec 17 | 36 | (31) | (94) | (139) |
| Groupon | Chicago | IL | Dec 17 | 36 | (172) | (96) | 5 |
| Equity Commonwealth | Chicago | IL | Dec 17 | 30 | 234 | 102 | 24 |
| Knowles | Itasca | IL | Dec 17 | 19 | 28 | 21 | 133 |
| Envestnet | Chicago | IL | Dec 17 | (2) | (40) | 9 | 23 |
| Akorn | Lake Forest | IL | Dec 17 | (59) | 271 | 232 | 25 |
| Stericycle | Lake Forest | IL | Dec 17 | (108) | 328 | 411 | 488 |
| Tribune Media | Chicago | IL | Dec 17 | (118) | 434 | (289) | 761 |
| Telephone and Data Systems | Chicago | IL | Dec 17 | (122) | 92 | 435 | (152) |
| CF Industries | Deerfield | IL | Dec 17 | (125) | (226) | 1,130 | 2,210 |
| Cision Ltd | Chicago | IL | Dec 17 | (134) | (154) | (94) | (140) |
| Allscripts Healthcare Solutions | Chicago | IL | Dec 17 | (210) | (15) | 1 | (68) |
| AveXis | Bannockburn | IL | Dec 17 | (218) | (83) | (38) | (16) |
| United States Cellular | Chicago | IL | Dec 17 | (272) | 82 | 404 | (59) |
| Horizon Pharma plc | Chicago | IL | Dec 17 | (513) | (228) | (133) | (270) |
| TreeHouse Foods | Oak Brook | IL | Dec 17 | (525) | (195) | 171 | 137 |
| Total all 87 Illinois Cos | 69,370 | 66,119 | 70,104 | 54,068 | |||
| Trump's First Year 2017 | |||||||
| ….. Pretax Income % Increase 2017 vs 2016 | 4.9% | ||||||
| Obama's Last Two Years 2016 and 2015 | |||||||
| ….. Pretax Income % Decrease 2016 vs 2015 | -5.7% | ||||||
| ….. Pretax Income % Increase 2015 vs 2014 | 29.7% | ||||||
| ….. Pretax Income Average % Increase 2016 and 2015 | 12.0% | ||||||
Also from a review of SEC filings, the following chart below shows the Audited Gold-Standard US GAAP After-Tax Net Income (Loss) From Continuing Operations for the Annual Fiscal Years 2017, 2016, 2015 and 2014 along with the related Annual Percentage Changes for 2017, 2016 and 2015 the 87 Illinois Companies including REITs with December or January Year Ends and with stock market caps above $1 bil recently.
| Obama | Obama | ||||||
| Trump | Obama | Second | Third | ||||
| First | Last | Last | Last | ||||
| Year | Year | Year | Year | ||||
| 2017 | 2016 | 2015 | 2014 | ||||
| Audited | Audited | Audited | Audited | ||||
| Net | Net | Net | Net | ||||
| Income | Income | Income | Income | ||||
| (Loss) | (Loss) | (Loss) | (Loss) | ||||
| Illinois Companies | From | From | From | From | |||
| Stock Market Caps Above $1 Bil | City | State | 2017 | Continuing | Continuing | Continuing | Continuing |
| With December and January Year Ends | HQs | HQs | FYE | Operations | Operations | Operations | Operations |
| $ mils | $ mils | $ mils | $ mils | ||||
| AbbVie | North Chicago | IL | Dec 17 | 5,309 | 5,953 | 5,144 | 1,774 |
| McDonalds | Oak Brook | IL | Dec 17 | 5,192 | 4,687 | 4,529 | 4,758 |
| CME Group | Chicago | IL | Dec 17 | 4,063 | 1,534 | 1,247 | 1,127 |
| Exelon | Chicago | IL | Dec 17 | 3,849 | 1,204 | 2,250 | 1,820 |
| Allstate | Northbrook | IL | Dec 17 | 3,189 | 1,877 | 2,171 | 2,850 |
| Mondelez Intl | Deerfield | IL | Dec 17 | 2,936 | 1,669 | 7,291 | 2,201 |
| United Continental Holdings | Chicago | IL | Dec 17 | 2,131 | 2,263 | 7,340 | 1,132 |
| Discover Financial Services | Riverwoods | IL | Dec 17 | 2,099 | 2,393 | 2,297 | 2,323 |
| Illinois Tool Works | Glenview | IL | Dec 17 | 1,687 | 2,035 | 1,899 | 1,890 |
| Archer Daniels Midland | Chicago | IL | Dec 17 | 1,602 | 1,288 | 1,846 | 2,253 |
| Northern Trust | Chicago | IL | Dec 17 | 1,199 | 1,033 | 974 | 812 |
| CNA Financial | Chicago | IL | Dec 17 | 899 | 859 | 479 | 888 |
| Dover | Downers Grove | IL | Dec 17 | 812 | 509 | 596 | 778 |
| Caterpillar | Deerfield | IL | Dec 17 | 759 | (59) | 2,523 | 2,468 |
| Baxter Intl | Deerfield | IL | Dec 17 | 724 | 4,966 | 393 | 457 |
| Packaging Corp of America | Lake Forest | IL | Dec 17 | 669 | 450 | 437 | 393 |
| GGP Inc | Chicago | IL | Dec 17 | 667 | 1,308 | 1,394 | 398 |
| Ventas | Chicago | IL | Dec 17 | 644 | 554 | 390 | 359 |
| Equity Residential | Chicago | IL | Dec 17 | 628 | 4,480 | 908 | 657 |
| WW Grainger | Lake Forest | IL | Dec 17 | 622 | 633 | 785 | 812 |
| Old Republic Intl | Chicago | IL | Dec 17 | 561 | 467 | 422 | 410 |
| Ulta Beauty | Bolingbrook | IL | Jan 18 | 555 | 410 | 320 | 257 |
| LKQ Corp | Chicago | IL | Dec 17 | 537 | 456 | 423 | 382 |
| Ingredion | Westchester | IL | Dec 17 | 532 | 496 | 412 | 363 |
| CDW Corp | Vernon Hills | IL | Dec 17 | 523 | 424 | 403 | 245 |
| GATX Corp | Chicago | IL | Dec 17 | 502 | 257 | 205 | 205 |
| Arthur J Gallagher & Co | Rolling Meadows | IL | Dec 17 | 499 | 445 | 389 | 328 |
| Fortune Brands Home&Security | Deerfield | IL | Dec 17 | 475 | 412 | 307 | 274 |
| TransUnion | Chicago | IL | Dec 17 | 452 | 131 | 15 | (4) |
| CF Industries | Deerfield | IL | Dec 17 | 450 | (158) | 734 | 1,437 |
| US Foods Holding | Rosemont | IL | Dec 17 | 444 | 210 | 168 | (73) |
| Cboe Global Markets | Chicago | IL | Dec 17 | 401 | 186 | 205 | 190 |
| Abbott Labs | Abbott Park | IL | Dec 17 | 353 | 1,063 | 2,606 | 1,721 |
| Idex Corp | Lake Forest | IL | Dec 17 | 337 | 271 | 283 | 279 |
| MB Financial | Chicago | IL | Dec 17 | 304 | 174 | 159 | 86 |
| Middleby | Elgin | IL | Dec 17 | 298 | 284 | 192 | 193 |
| Tenneco | Lake Forest | IL | Dec 17 | 274 | 424 | 295 | 267 |
| Wintrust Financial | Rosemont | IL | Dec 17 | 258 | 207 | 157 | 151 |
| Jones Lang LaSalle | Chicago | IL | Dec 17 | 257 | 334 | 446 | 388 |
| Retail Properties of America | Oak Brook | IL | Dec 17 | 251 | 167 | 126 | 43 |
| Hyatt Hotels | Chicago | IL | Dec 17 | 250 | 204 | 124 | 346 |
| Kapstone Paper & Packaging | Northbrook | IL | Dec 17 | 244 | 86 | 106 | 172 |
| Camping World Holdings | Lincolnshire | IL | Dec 17 | 233 | 201 | 174 | 121 |
| Cars.com | Chicago | IL | Dec 17 | 224 | 176 | 158 | 23 |
| AptarGroup | Crystal Lake | IL | Dec 17 | 220 | 206 | 199 | 192 |
| Equity Lifestyle Properties | Chicago | IL | Dec 17 | 210 | 187 | 151 | 138 |
| First Industrial Realty Trust | Chicago | IL | Dec 17 | 208 | 126 | 77 | 23 |
| Brunswick | Mettawa | IL | Dec 17 | 187 | 273 | 231 | 196 |
| Tribune Media | Chicago | IL | Dec 17 | 183 | 87 | (315) | 477 |
| Horace Mann Educators | Springfield | IL | Dec 17 | 169 | 84 | 93 | 104 |
| Telephone and Data Systems | Chicago | IL | Dec 17 | 157 | 52 | 263 | (147) |
| Morningstar | Chicago | IL | Dec 17 | 137 | 161 | 133 | 78 |
| Hub Group | Oak Brook | IL | Dec 17 | 135 | 75 | 71 | 52 |
| ACCO Brands | Lake Zurich | IL | Dec 17 | 132 | 96 | 86 | 92 |
| Univar | Downers Grove | IL | Dec 17 | 120 | (68) | 17 | (20) |
| Kemper Corp | Chicago | IL | Dec 17 | 120 | 13 | 80 | 113 |
| Littelfuse | Chicago | IL | Dec 17 | 120 | 104 | 81 | 98 |
| Anixter Intl | Glenview | IL | Dec 17 | 109 | 121 | 97 | 163 |
| RLI Corp | Peoria | IL | Dec 17 | 105 | 115 | 138 | 135 |
| GrubHub | Chicago | IL | Dec 17 | 99 | 50 | 38 | 24 |
| First Midwest Bancorp | Chicago | IL | Dec 17 | 98 | 92 | 82 | 69 |
| USG Corp | Chicago | IL | Dec 17 | 97 | 211 | 976 | 26 |
| Stepan | Northfield | IL | Dec 17 | 92 | 86 | 76 | 57 |
| John Bean Technologies | Chicago | IL | Dec 17 | 82 | 68 | 56 | 31 |
| Tootsie Roll Industries | Chicago | IL | Dec 17 | 81 | 67 | 66 | 63 |
| Navigant Consulting | Chicago | IL | Dec 17 | 75 | 58 | 60 | (37) |
| First Busey | Urbana | IL | Dec 17 | 63 | 50 | 39 | 33 |
| Federal Signal | Oak Brook | IL | Dec 17 | 61 | 39 | 66 | 60 |
| Century Aluminum | Chicago | IL | Dec 17 | 49 | (252) | (59) | 126 |
| Stericycle | Lake Forest | IL | Dec 17 | 43 | 208 | 268 | 328 |
| Equity Commonwealth | Chicago | IL | Dec 17 | 30 | 233 | 100 | 21 |
| Enova Intl | Chicago | IL | Dec 17 | 29 | 35 | 44 | 112 |
| Groupon | Chicago | IL | Dec 17 | 29 | (166) | (73) | (11) |
| Zebra Technologies | Lincolnshire | IL | Dec 17 | 17 | (137) | (158) | 32 |
| United States Cellular | Chicago | IL | Dec 17 | 15 | 49 | 247 | (47) |
| CTS Corp | Lisle | IL | Dec 17 | 14 | 34 | 7 | 27 |
| Coeur Mining | Chicago | IL | Dec 17 | 11 | 22 | (288) | (1,098) |
| Knowles | Itasca | IL | Dec 17 | 7 | 20 | 17 | 111 |
| Envestnet | Chicago | IL | Dec 17 | (3) | (56) | 4 | 14 |
| Akorn | Lake Forest | IL | Dec 17 | (25) | 184 | 151 | 14 |
| Career Education | Schaumburg | IL | Dec 17 | (31) | (15) | 53 | (143) |
| Cision Ltd | Chicago | IL | Dec 17 | (123) | (98) | (91) | (109) |
| Motorola Solutions | Chicago | IL | Dec 17 | (151) | 562 | 643 | (696) |
| Allscripts Healthcare Solutions | Chicago | IL | Dec 17 | (159) | 3 | (2) | (66) |
| AveXis | Bannockburn | IL | Dec 17 | (218) | (83) | (38) | (16) |
| TreeHouse Foods | Oak Brook | IL | Dec 17 | (286) | (229) | 115 | 90 |
| Horizon Pharma plc | Chicago | IL | Dec 17 | (410) | (167) | 40 | (264) |
| Total all 87 Illinois Cos | 50,792 | 49,463 | 57,563 | 38,399 | |||
| Trump's First Year 2017 | |||||||
| ….. Net Income % Increase 2017 vs 2016 | 2.7% | ||||||
| Obama's Last Two Years 2016 and 2015 | |||||||
| ….. Net Income % Decrease 2016 vs 2015 | -14.1% | ||||||
| ….. Net Income % Increase 2015 vs 2014 | 49.9% | ||||||
| ….. Net Income Average % Increase 2016 and 2015 | 17.9% | ||||||
It should be pointed out that Boeing has an SEC Business Address in Seattle, Washington and thus is not included above.
