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 $0.0625 per Leucadia common
share payable on March 28, 2014 to record holders of Leucadia common
shares on March 17, 2014.
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SUMMARY FOR LEUCADIA NATIONAL CORPORATION
AND SUBSIDIARIES
(In thousands, except per share amounts)
(Unaudited)
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For the Three Month
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For the Year
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Period Ended December 31,
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Ended December 31,
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2013
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2012
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2013
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2012
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Net revenues
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$
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2,921,918
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$
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2,775,446
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$
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10,429,491
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$
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9,405,332
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Net realized securities gains (losses)
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$
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(421
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)
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$
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8,912
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$
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243,957
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$
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590,581
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Income (loss) from continuing operations before income taxes and
income related to associated companies
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$
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(23,730
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$
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692,234
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$
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353,002
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$
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1,329,633
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Income related to associated companies
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29,481
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22,847
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119,041
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88,649
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Income from continuing operations before income taxes
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5,751
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715,081
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472,043
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1,418,282
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Income tax provision
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20,841
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258,980
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110,741
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531,153
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Income from continuing operations
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(15,090
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456,101
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361,302
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887,129
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Income (loss) from discontinued operations, including gain (loss)
on disposal, net of taxes
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4,075
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(5,261
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891
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(22,488
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Net income (loss)
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(11,015
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450,840
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362,193
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864,641
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Net loss attributable to the noncontrolling interest
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64
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993
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1,162
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2,060
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Net (income) loss attributable to the redeemable noncontrolling
interests
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20,521
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2,333
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9,282
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(12,235
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Preferred stock dividends
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(1,016
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)
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–
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(3,397
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)
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–
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Net income attributable to Leucadia National Corporation common
shareholders
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$
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8,554
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$
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454,166
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$
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369,240
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$
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854,466
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Basic earnings (loss) per common share attributable to Leucadia
National Corporation common shareholders:
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Income (loss) from continuing operations
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$
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.01
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$
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1.88
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$
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1.06
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$
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3.58
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Income (loss) from discontinued operations, including gain (loss)
on disposal
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.01
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(.02
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.01
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(.09
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Net income
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$
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.02
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$
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1.86
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$
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1.07
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$
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3.49
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Number of shares in calculation
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368,146
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244,583
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339,673
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244,583
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Diluted earnings (loss) per common share attributable to Leucadia
National Corporation common shareholders:
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Income (loss) from continuing operations
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$
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.01
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$
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1.85
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$
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1.06
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$
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3.53
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Income (loss) from discontinued operations, including gain (loss)
on disposal
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.01
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(.02
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–
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(.09
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Net income
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$
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.02
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$
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1.83
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$
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1.06
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$
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3.44
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Number of shares in calculation
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368,262
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248,922
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347,734
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248,914
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Copyright Business Wire 2014