Return to 1997 Financial Contents

Statements of Stockholders' Equity


1997 1996 1995
(In thousands of dollars)
Capital Stock
Class A common stock
  Balance at beginning of year $36,527 $36,512 $36,507
  Conversions from Class B 11 15 5
  Balance at end of year 36,538 36,527 36,512
Class B common stock
  Balance at beginning of year 3,589 3,604 3,609
  Conversions to Class A (11) (15) (5)
  Balance at end of year 3,578 3,589 3,604
Treasury Stock
  Balance at beginning of year (6,197) (6,327) (6,186)
  Exercise of stock options (88) 61 (184)
  Restricted stock awards 71 69 43
  Balance at end of year (6,214) (6,197) (6,327)
Paid-in Capital
  Balance at beginning of year 8,265 7,215 5,868
  Exercise of stock options 2,225 476 977
  Restricted stock awards 490 574 370
  Balance at end of year 10,980 8,265 7,215
Earnings Invested in the Business
  Balance at beginning of year 474,715 435,100 391,718
  Net earnings 80,780 73,009 69,491
  Cash dividends (33,150) (31,579) (29,638)
  Equity adjustment for foreign currency translation; cumulative charge of $7,092 in 1997; cumulative credit of $306 in 1996 and $2,121 in 1995 (7,398) (1,815) 3,529
  Balance at end of year 514,947 474,715 435,100
Stockholders' Equity at end of year $559,829 $516,899 $476,104

See accompanying Notes to Financial Statements.