Tower International, Inc. (TOWR) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
International						815.5	786.8	981.7
Americas						1,151.0	1,139.0	1,072.1
Total revenues	1,571.9	1,382.5	1,319.0	1,796.1	1,838.1	1,966.5	1,925.8	2,053.7
Revenue growth [+]	13.7%	4.8%	-26.6%	-2.3%	-6.5%	2.1%	-6.2%	19.3%
International						3.6%	-19.9%	12.6%
Americas						1.1%	6.2%	26.2%
Cost of goods sold	1,378.0	1,193.3	1,144.9	1,578.2	1,622.3	1,736.2	1,729.5	1,851.9
Gross profit	193.9	189.2	174.1	217.9	215.8	230.3	196.3	201.8
Gross margin	12.3%	13.7%	13.2%	12.1%	11.7%	11.7%	10.2%	9.8%
Selling, general and administrative	89.5	87.8	102.1	124.5	123.6	132.8	133.2	151.6
Equity in earnings						0.6
Other operating expenses	0.4	0.4	0.4	0.2	12.6	24.0	15.3	7.2
Adjusted EBITDA	162.2	153.7	121.9	168.0	163.4	193.9	178.4	202.6
Adjusted EBITDA margin	10.3%	11.1%	9.2%	9.4%	8.9%	9.9%	9.3%	9.9%
Stock-based compensation	3.4	2.2	2.5	2.3	4.7	4.7	9.6	15.2
EBITDA [+]	158.8	151.4	119.5	165.7	158.7	162.9	137.7	145.6
EBITDA growth	4.8%	26.7%	-27.9%	4.4%	-2.6%	18.3%	-5.4%	-3.9%
EBITDA margin	10.1%	11.0%	9.1%	9.2%	8.6%	8.3%	7.1%	7.1%
Depreciation and amortization	54.4	50.0	47.4	72.3	77.9	86.0	85.3	98.0
EBITA	104.4	101.4	72.1	93.4	80.8	76.9	52.4	47.6
EBITA margin	6.6%	7.3%	5.5%	5.2%	4.4%	3.9%	2.7%	2.3%
Amortization of intangibles	0.4	0.4	0.4	0.2	1.2	2.8	4.6	4.6
EBIT [+]	103.9	101.0	71.6	93.2	79.6	74.1	47.8	43.0
EBIT growth	2.9%	41.0%	-23.1%	17.0%	7.5%	55.0%	11.0%	-6.1%
EBIT margin	6.6%	7.3%	5.4%	5.2%	4.3%	3.8%	2.5%	2.1%
Non-recurring items	3.4	9.1	20.9	7.8
Interest expense, net [+]	18.8	9.7	17.2	23.7	31.0	50.7	54.6	53.5
Interest expense	19.9	10.9	18.3	23.8	31.1	51.4	55.2	54.3
Interest income	1.1	1.1	1.1	0.1	0.1	0.7	0.6	0.7
Other income (expense), net [+]	-3.4	1.7	-11.1		-0.1	-49.0		-1.3
Other non-ooperating expenses	1.0	0.6	4.8					1.3
Other	-1.0	-0.6	-4.8		0.1	48.4		1.3
Pre-tax income	78.4	83.8	22.5	61.6	48.5	-25.6	-6.8	-11.8
Income taxes	1.3	44.1	8.8	-123.8	7.3	0.2	13.8	13.3
Tax rate	1.6%	52.6%	39.0%		15.1%
Minority interest		0.1	0.7	1.7	5.6	4.2	7.0	5.1
Earnings from continuing ops	154.2	39.6	13.0	183.7	76.8	-56.9	-27.6	-55.3
Earnings from discontinued ops	-28.2	8.0	25.6	10.3	-14.1	10.3	45.6	6.9
Net income	126.0	47.6	38.6	194.1	62.7	-46.6	18.0	-48.4
Net margin	8.0%	3.4%	2.9%	10.8%	3.4%	-2.4%	0.9%	-2.4%

Basic EPS [+]	$7.49	$1.93	$0.62	$8.71	$3.72	($2.79)	($1.37)	($2.86)
Growth	287.8%	209.9%	-92.8%	134.3%	-233.3%	103.2%	-51.9%	-35.9%
Diluted EPS [+]	$7.35	$1.90	$0.61	$8.58	$3.59	($2.79)	($1.37)	($2.86)
Growth	286.5%	210.2%	-92.9%	139.0%	-228.7%	103.2%	-51.9%	-35.9%

Dividends per share [+]	$0.49	$0.45	$0.41	$0.10
Growth	8.9%	9.5%	310.7%

Shares outstanding (basic) [+]	20.6	20.5	20.9	21.1	20.7	20.4	20.1	19.4
Growth	0.5%	-1.8%	-1.1%	2.1%	1.4%	1.5%	3.7%	39.7%
Shares outstanding (diluted) [+]	21.0	20.8	21.2	21.4	21.4	20.4	20.1	19.4
Growth	0.8%	-1.9%	-0.9%	0.1%	4.9%	1.5%	3.7%	39.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.