Leucadia National Corporation Announces 2013 Results
February 28 2014 - 3:20PM
Business Wire
Leucadia National Corporation (NYSE:LUK) today announced its
operating results for the year ended December 31, 2013. Net income
attributable to Leucadia National Corporation common shareholders
was $369.2 million ($1.06 per diluted common share) for 2013
compared to $854.5 million ($3.44 per diluted common share) for
2012. These results reflect the inclusion of the operations of
Jefferies Group LLC and its subsidiaries since its acquisition on
March 1, 2013. In addition, during 2013, operating results include
realized and unrealized gains of $410.3 million, excluding
investments held by Jefferies, comprised of an unrealized gain on
Jefferies shares prior to the acquisition and a realized gain
related to the sale of Inmet Mining Corporation. During 2012,
operating results include realized gains and income recognized of
$1,179.8 million related to securities of Fortescue Metals Group
Ltd.
For more information on the Company’s results of operations for
2013, please see the Company’s Annual Report on Form 10-K for the
year ended December 31, 2013, which was filed with the Securities
and Exchange Commission today.
In addition, the Company announced today that its Board of
Directors has declared a quarterly cash dividend equal to $0.0625
per Leucadia common share payable on March 28, 2014 to record
holders of Leucadia common shares on March 17, 2014.
SUMMARY FOR LEUCADIA
NATIONAL CORPORATION AND SUBSIDIARIES
(In thousands, except per share
amounts)
(Unaudited)
For the Three Month For the Year
Period Ended
December 31,
Ended December
31,
2013
2012
2013
2012
Net revenues
$ 2,921,918
$ 2,775,446 $
10,429,491 $
9,405,332 Net realized securities gains
(losses)
$ (421 )
$
8,912 $ 243,957
$ 590,581
Income (loss) from continuing operations
before income taxes and income related to associated companies
$ (23,730 ) $ 692,234 $ 353,002 $ 1,329,633 Income related
to associated companies
29,481
22,847 119,041
88,649 Income from continuing
operations before income taxes 5,751 715,081 472,043 1,418,282
Income tax provision
20,841
258,980 110,741
531,153 Income from
continuing operations (15,090 ) 456,101 361,302 887,129
Income (loss) from discontinued
operations, including gain (loss) on disposal, net of taxes
4,075 (5,261 )
891 (22,488 )
Net income (loss) (11,015 ) 450,840 362,193 864,641 Net loss
attributable to the noncontrolling interest 64 993 1,162 2,060
Net (income) loss attributable to the
redeemable noncontrolling interests
20,521 2,333 9,282 (12,235 ) Preferred stock dividends
(1,016 )
–
(3,397 )
–
Net income attributable to Leucadia
National Corporation common shareholders
$ 8,554 $
454,166 $ 369,240
$ 854,466
Basic earnings (loss) per common share
attributable to Leucadia National Corporation common
shareholders:
Income (loss) from continuing operations $ .01 $ 1.88 $ 1.06 $ 3.58
Income (loss) from discontinued
operations, including gain (loss) on disposal
.01 (.02 )
.01 (.09 ) Net income
$ .02 $
1.86 $ 1.07
$ 3.49 Number of shares in
calculation
368,146
244,583 339,673
244,583
Diluted earnings (loss) per common share
attributable to Leucadia National Corporation common
shareholders:
Income (loss) from continuing operations $ .01 $ 1.85 $ 1.06 $ 3.53
Income (loss) from discontinued
operations, including gain (loss) on disposal
.01 (.02 )
– (.09 ) Net income
$ .02 $
1.83 $ 1.06
$ 3.44 Number of shares in
calculation
368,262
248,922 347,734
248,914
Leucadia National CorporationLaura Ulbrandt, 212-460-1900
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