Financials (10-K)

Part II – Statements of income (loss) for each of the three years in the period ended December 31, 2011


TENNECO INC.
CONSOLIDATED STATEMENTS OF INCOME (LOSS)

Year Ended December 31,   2011     2010     2009  
(Millions Except Share and Per Share Amounts)      
Revenues                        
Net sales and operating revenues   $ 7,205     $ 5,937     $ 4,649  
Costs and expenses                        
Cost of sales (exclusive of depreciation and amortization shown below)     6,037       4,900       3,875  
Goodwill impairment charge     11              
Engineering, research, and development     133       117       97  
Selling, general, and administrative     428       417       344  
Depreciation and amortization of other intangibles     207       216       221  
      6,816       5,650       4,537  
Other income (expense)                        
Loss on sale of receivables     (5 )     (3 )     (9 )
Other income (expense)     (5 )     (3 )     (11 )
      (10 )     (6 )     (20 )
Earning before interest expense, income taxes, and noncontrolling interests     379       281       92  
Interest expense (net of interest capitalized of $4 million in each of 2011, 2010 and 2009, respectively)     108       149       133  
Earnings before income taxes and noncontrolling interests     271       132       (41 )
Income tax expense     88       69       13  
Net income (loss)     183       63       (54 )  
Less: Net income attributable to noncontrolling interests     26       24       19  
Net income (loss) attributable to Tenneco, Inc.   $ 157     $ 39     $ (73 )  
Earnings (loss) per share                        
Weighted average shares of common stock outstanding —                        
Basic     59,884,139       59,208,103       48,572,463  
Diluted     61,520,160       60,998,694       48,572,463  
Basic earnings (loss) per share of common stock   $ 2.62     $ 0.65     $ (1.50 )  
Diluted earnings (loss) per share of common stock   $ 2.55     $ 0.63     $ (1.50 )  

The accompanying notes to consolidated financial statements are an integral part of these statements of income (loss).