For a Longer-Term Perspective, Colorado Companies Had Their Total Pretax Earnings Increase By 2,630% During the Obama Administration, Going From a Total Pretax Loss of $372 Mil in 2008, One Year Before Obama Took Office, to $9.418 Bil in 2016, Obama's Last Year in Office
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From a review of US SEC filings, there were 58 Companies headquartered in Colorado with a stock market cap of more than $1 Bil several months ago.
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From a review of US SEC filings, there were 58 Companies headquartered in Colorado with a stock market cap of more than $1 Bil several months ago.
My focus is on Pretax Income rather than on After-Tax Net Income
because Income Taxes are simply a transfer of financial wealth between US
Corporations and the US Federal, US State and Foreign Governments. It has
nothing whatsoever to do with Company Operating Performance.
From a review of SEC filings, the chart below shows the Gold-Standard
US GAAP Pretax Income (Loss) From Continuing Operations for the Six Months
Ended 2018 and 2017 for these 58 Colorado Companies.
| US | US | ||
| GAAP | GAAP | ||
| Pretax | Pretax | ||
| Income | Income | ||
| (Loss) | (Loss) | ||
| 6 Months | 6 Months | ||
| June | June | Better | |
| July | July | (Worse) | |
| Colorado Companies | or Aug | or Aug | % |
| Market Caps Above $1 Bil | 2018 | 2017 | Change |
| mils $ | mils $ | ||
| Dish Networks | 1,103 | 838 | |
| Molson Coors Brewing | 880 | 741 | |
| Liberty SiriusXM Group | 670 | 592 | |
| DaVita | 622 | 1,064 | |
| Newmont Mining | 572 | 524 | |
| Qurate Retail | 508 | 522 | |
| Western Union | 490 | 397 | |
| SM Energy | 433 | (72) | |
| Cimarex Energy | 426 | 365 | |
| Arrow Electronics | 410 | 286 | |
| Janus Henderson Group plc | 379 | 113 | |
| Ball Corp | 325 | 214 | |
| Pilgrim's Pride | 301 | 510 | |
| IHS Markit Ltd | 237 | 208 | |
| Antero Midstream Partners LP | 217 | 162 | |
| Vail Resorts | 213 | 202 | |
| Centennial Resource Development | 177 | 43 | |
| Liberty Oilfield Services | 173 | 47 | |
| Chipotle Mexican Grill | 164 | 182 | |
| Gates Industrial Group plc | 145 | 52 | |
| MDC Holdings | 128 | 88 | |
| DCP Midstream LP | 127 | 193 | |
| SRC Energy | 125 | 48 | |
| UDR Inc | 112 | 39 | |
| Advanced Energy Industries | 112 | 88 | |
| Woodward | 102 | 119 | |
| DCT Industrial Trust | 76 | 59 | |
| EchoStar | 69 | 40 | |
| Zayo Group Holdings | 65 | 62 | |
| Crocs | 64 | 46 | |
| Apartment Investment&Mgt | 61 | 29 | |
| Innospec | 59 | 58 | |
| CoreSite Realty | 56 | 49 | |
| CSG Systems Intl | 41 | 43 | |
| Antero Midstream GP LP | 41 | 4 | |
| National Bank Holdings | 30 | 18 | |
| Jagged Peak Energy | 28 | (346) | |
| National Storage Affiliates Trust | 25 | 23 | |
| Whiting Petroleum | 17 | (231) | |
| TTEC Holdings | 15 | 42 | |
| Maxar Technologies Ltd | (1) | 37 | |
| Antero Resources | (3) | 496 | |
| Liberty Broadband | (5) | (29) | |
| Liberty Latin America Ltd | (23) | 42 | |
| Summit Materials | (24) | (2) | |
| Liberty TripAdvisor Holdings | (33) | (2) | |
| Extraction Oil & Gas | (53) | 26 | |
| Liberty Braves Group | (54) | (60) | |
| Liberty Formula One Group | (66) | (176) | |
| High Point Resources | (72) | (32) | |
| Array BioPharma | (74) | (65) | |
| Liberty Global plc | (79) | (976) | |
| Royal Gold Inc | (171) | 53 | |
| Clovis Oncology | (179) | (235) | |
| PDC Energy | (223) | 138 | |
| QEP Resources | (510) | 195 | |
| GCI Liberty | (544) | 779 | |
| Liberty Expedia Holdings | (567) | (818) | |
| Total all 58 Colorado Cos | 7,115 | 6,833 | 4% |
Also from a review of SEC filings, the chart below shows the Gold-Standard US GAAP Audited Pretax Income (Loss) From Continuing Operations for Annual 2016 and Annual 2008, spanning the entire Obama Administration, for the 44 Colorado Companies which reported their 2008 Pretax Income (Loss) to the SEC.
| Obama | Bush | ||||||
| Last | Last | ||||||
| Year | Year | ||||||
| in | in | ||||||
| Office | Office | ||||||
| 2016 | 2008 | ||||||
| Audited | Audited | Better | |||||
| Pretax | Pretax | (Worse) | |||||
| Colorado Companies | City | State | 2016 | Income | Income | Better | % |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | (Loss) | (Loss) | (Worse) | Change |
| $ mils | $ mils | $ mils | |||||
| Molson Coors Brewing | Denver | CO | Dec 16 | 3,057 | 499 | 2,558 | 513% |
| Dish Networks | Englewood | CO | Dec 16 | 2,417 | 1,569 | 848 | 54% |
| Qurate Retail | Englewood | CO | Dec 16 | 1,852 | (1,238) | 3,090 | 250% |
| DaVita | Denver | CO | Dec 16 | 1,623 | 657 | 966 | 147% |
| Liberty Media Corp * | Englewood | CO | Dec 16 | 1,419 | (1,793) | 3,212 | 179% |
| Level 3 Parent LLC | Broomfield | CO | Dec 16 | 842 | (312) | 1,154 | 370% |
| Pilgrim's Pride | Greeley | CO | Dec 16 | 724 | (1,186) | 1,910 | 161% |
| Arrow Electronics | Centennial | CO | Dec 16 | 715 | (597) | 1,312 | 220% |
| Liberty Global plc | Denver | CO | Dec 16 | 648 | (467) | 1,115 | 239% |
| Apartment Investment&Mgt | Denver | CO | Dec 16 | 483 | (66) | 549 | 832% |
| Western Union | Englewood | CO | Dec 16 | 342 | 1,239 | (897) | -72% |
| UDR Inc | Highlands Ranch | CO | Dec 16 | 320 | (63) | 383 | 608% |
| WhiteWave Foods | Denver | CO | Dec 16 | 317 | 101 | 216 | 214% |
| Vail Resorts | Broomfield | CO | July 16 | 243 | 171 | 72 | 42% |
| Janus Capital Group | Denver | CO | Dec 16 | 242 | 216 | 26 | 12% |
| Woodward | Fort Collins | CO | Sep 16 | 226 | 183 | 43 | 23% |
| EchoStar | Englewood | CO | Dec 16 | 217 | (1,055) | 1,272 | 121% |
| Air Methods | Englewood | CO | Dec 16 | 161 | 26 | 135 | 519% |
| MDC Holdings | Denver | CO | Dec 16 | 152 | (382) | 534 | 140% |
| Ball Corp | Broomfield | CO | Dec 16 | 140 | 457 | (317) | 69% |
| DCP Midstream LP | Denver | CO | Dec 16 | 140 | 179 | (39) | -22% |
| Advanced Energy Industries | Fort Collins | CO | Dec 16 | 128 | 8 | 120 | 1500% |
| Royal Gold Inc | Denver | CO | Jun 17 | 119 | 38 | 81 | 213% |
| Innospec | Englewood | CO | Dec 16 | 103 | 19 | 84 | 442% |
| CSG Systems Intl | Greenwood Village | CO | Dec 16 | 100 | 81 | 19 | 23% |
| DCT Industrial Trust | Denver | CO | Dec 16 | 98 | (14) | 112 | 800% |
| CoreSite Realty | Denver | CO | Dec 16 | 82 | (14) | 96 | 686% |
| TTEC Holdings | Englewood | CO | Dec 16 | 50 | 105 | (55) | -52% |
| DigitalGlobe | Westminster | CO | Dec 16 | 45 | 92 | (47) | -51% |
| Chipotle Mexican Grill | Denver | CO | Dec 16 | 39 | 127 | (88) | -69% |
| Stillwater Mining | Littleton | CO | Dec 16 | 13 | (116) | 129 | 111% |
| GCI Liberty | Englewood | CO | Dec 16 | 1 | (2) | 3 | 150% |
| Crocs | Niwot | CO | Dec 16 | (7) | (190) | 183 | 96% |
| Spectranetics | Colorado Springs | CO | Dec 16 | (57) | (5) | (52) | -1040% |
| Array BioPharma | Boulder | CO | Jun 17 | (117) | (96) | (21) | -22% |
| HighPoint Resources | Denver | CO | Dec 16 | (170) | 168 | (338) | -201% |
| SRC Energy | Denver | CO | Dec 16 | (219) | (0) | (219) | NM |
| Newmont Mining | Greenwood Village | CO | Dec 16 | (227) | 1,289 | (1,516) | -118% |
| PDC Energy | Denver | CO | Dec 16 | (393) | 163 | (556) | -341% |
| Cimarex Energy | Denver | CO | Dec 16 | (623) | (1,452) | 829 | 57% |
| SM Energy | Denver | CO | Dec 16 | (1,201) | 145 | (1,346) | -928% |
| Antero Resources | Denver | CO | Dec 16 | (1,246) | (69) | (1,177) | -1706% |
| Whiting Petroleum | Denver | CO | Dec 16 | (1,427) | 409 | (1,836) | -449% |
| QEP Resources | Denver | CO | Dec 16 | (1,953) | 804 | (2,757) | -343% |
| Total all 44 Colorado Companies | 9,418 | (372) | 9,790 | 2630% | |||
Total Pretax Income % Increase
|
|||||||
….. 2016 vs 2008 (Obama Last
Year vs Bush Last Year)
|
2,630% | ||||||
| * Liberty Media includes Liberty Sirius XM Group, Liberty Braves Group and Liberty Formula One Group | |||||||
