UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 30, 2007
ALEXANDER & BALDWIN, INC.
(Exact name of registrant as specified in its charter)
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Hawaii |
0-565 |
99-0032630 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
822 Bishop Street, P. O. Box 3440
Honolulu, Hawaii 96801
(Address of principal executive office and zip code)
(808) 525-6611
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Conditions.
On April 30, 2007, Alexander & Baldwin, Inc. made certain supplemental financial information regarding its operations for the five–year period ending December 31, 2006, available on its website. A copy of such information is being furnished as Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
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(d) |
Exhibits |
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99.1 |
Supplemental financial information for the five–year period ending December 31, 2006. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 30, 2007
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ALEXANDER & BALDWIN, INC. |
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/s/ Christopher J. Benjamin |
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Christopher J. Benjamin |
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Senior Vice President, |
Chief Financial Officer and
Treasurer
The following financial data should be read in conjunction with Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations” and Item 8, “Financial Statements and Supplementary Data,” included in the Company’s respective annual reports filed on Form 10-K for the five-year period ending December 31, 2006:
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2006 |
2005 |
2004 |
2003 |
2002 |
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(dollars in millions) | ||||
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Identifiable Assets: |
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Transportation: |
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Matson Ocean Transportation |
$ 1,185.3 |
$ 1,113.0 |
$ 896.9 |
$ 936.5 |
$ 850.3 |
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MIL |
56.4 |
70.3 |
56.5 |
45.4 |
29.8 |
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Real Estate: |
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Leasing |
525.5 |
478.6 |
436.5 |
451.2 |
396.2 |
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Sales |
295.0 |
227.3 |
224.5 |
161.6 |
104.1 |
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Agribusiness |
168.7 |
159.0 |
152.8 |
154.4 |
163.4 |
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Other |
20.3 |
22.7 |
11.0 |
10.5 |
8.9 |
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Total assets |
$ 2,251.2 |
$ 2,070.9 |
$ 1,778.2 |
$ 1,759.6 |
$ 1,552.7 |
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Capital Additions: |
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Transportation: |
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Matson Ocean Transportation |
$ 217.1 |
$ 173.9 |
$ 128.6 |
$ 133.2 |
$ 10.1 |
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MIL1 |
1.7 |
1.3 |
0.1 |
0.2 |
0.4 |
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Real Estate: |
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Leasing2 |
93.0 |
78.8 |
10.2 |
49.7 |
81.8 |
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Sales3,4 |
1.3 |
0.2 |
0.7 |
58.0 |
1.9 |
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Agribusiness |
15.0 |
13.0 |
10.2 |
12.6 |
9.9 |
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Other |
1.5 |
1.4 |
1.4 |
1.7 |
0.9 |
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Total capital additions |
$ 329.6 |
$ 268.6 |
$ 151.2 |
$ 255.4 |
$ 105.0 |
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Depreciation and Amortization: |
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Transportation: |
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Matson Ocean Transportation |
$ 58.1 |
$ 59.5 |
$ 56.8 |
$ 51.0 |
$ 50.1 |
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MIL |
1.5 |
1.4 |
1.2 |
0.9 |
0.9 |
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Real Estate:5 |
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Leasing |
14.1 |
12.4 |
12.2 |
11.2 |
9.0 |
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Sales |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Agribusiness |
10.1 |
9.4 |
9.0 |
8.2 |
8.5 |
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Other |
0.9 |
0.5 |
0.4 |
0.3 |
0.4 |
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Total depreciation and amortization |
$ 84.8 |
$ 83.3 |
$ 79.7 |
$ 71.7 |
$ 69.0 |
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1 |
Excludes expenditures related to Matson Integrated Logistics’ acquisitions, which are classified as Payments for Purchases of Investments in Cash Flows from Investing Activities within the Consolidated Statements of Cash Flows. |
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2 |
Represents gross capital additions to the leasing portfolio, including gross tax-deferred property purchases that are reflected as non-cash transactions in the Consolidated Statements of Cash Flows. |
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3 |
Excludes capital expenditures for real estate developments held for sale which are classified as Cash Flows from Operating Activities within the Consolidated Statements of Cash Flows. Operating cash flows for capital expenditures related to real estate developments were $69 million, $34 million, $30 million, $35 million, and $9 million for the years ended December 31, 2006, 2005, 2004, 2003, and 2002, respectively. |
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4 |
Capital expenditures for the real estate sales segment in 2003 primarily represents expenditures related to the acquisition of the Wailea resort development lands, which consisted of 270 undeveloped acres comprised of 17 individual development parcels entitled for residential and commercial uses. |
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5 |
Prior year amounts restated for amounts treated as discontinued operations. |