| December 31 (dollars in thousands) |
1998 |
1997 |
| Current Assets |
| Cash and cash equivalents |
$268,934 |
$171,438 |
| Marketable securities |
41,133 |
8,021 |
| Trade accounts receivable |
145,079 |
151,201 |
Inventories:
Raw material
Semi-finished goods
Finished goods |
2,619
7,401
1,981 |
15,462
9,132
26,503 |
| Supplies |
17,400 |
15,899 |
| Deferred advertising |
7,939 |
15,763 |
| Deferred income taxes |
63,785 |
50,345 |
| Prepaid expenses and other current assets |
62,961 |
48,849 |
| Total current assets |
619,232 |
512,613 |
| Long-term Investments |
45,208 |
52,910 |
| Property, Plant, and Equipment |
| Land and land improvements |
46,826 |
59,967 |
| Buildings and building improvements |
209,416 |
267,135 |
| Machinery and equipment |
512,683 |
562,983 |
| Total |
768,925 |
890,085 |
| Less accumulated depreciation |
424,365 |
475,077 |
| Property, plant and
equipment--net |
344,560 |
415,008 |
| Intangibles |
| Cost in excess of net assets
acquired--net |
42,836 |
54,435 |
| Internal use software—net |
118,417 |
74,584 |
| Other intangible assets--net |
32,781 |
38,814 |
| Total intangibles |
194,034 |
167,833 |
|
Total assets |
$1,203,034 |
$1,148,364 |
|
| December
31 (dollars in thousands) |
1998 |
1997 |
| Current Liabilities |
| Accounts payable |
$53,555 |
$73,516 |
Accrued liabilities:
Wages, including vacation pay
Employee profit sharing and pension
Accrued income taxes
Accrued rebates
Accrued contract/relationship losses
Other |
60,540
41,762
33,087
34,712
35,356
185,022
|
62,513
40,517
31,960
36,708
129,263 |
| Long-term debt due within one year |
7,332 |
7,078 |
| Total current
liabilities |
451,366 |
381,555 |
| Long-term Debt |
106,321 |
109,986 |
| Deferred Income Taxes |
36,018 |
6,040 |
| Other Long-term Liabilities |
419 |
40,535 |
| Shareholders' Equity |
Common shares $1 par value
(authorized: 500,000,000
shares; issued: 1998—80,480,526 shares 1997—81,325,925
shares) |
80,481 |
81,326 |
| Additional paid-in capital |
6,822 |
4,758 |
| Retained earnings |
522,087 |
525,302 |
| Unearned compensation |
(238) |
(649) |
| Accumulated other
comprehensive income |
(242) |
(489) |
| Shareholders' equity |
608,910 |
610,248 |
|
Total liabilities and shareholders' equity |
$1,203,034 |
$1,148,364 |
|
