December 31, |  |
1998 | |
1997 |
|
| ASSETS | | | | |
| |
| Current Assets: | | | | |
| Cash and cash equivalents | $ | 39,024 | $ | 54,237 |
| Accounts receivable—trade | | 451,324 | | 360,831 |
| Inventories | | 493,249 | | 505,525 |
| Deferred income taxes | | 58,505 | | 84,024 |
| Prepaid expenses and other | | 91,864
| | 30,197
|
Total current assets | | 1,133,966 | | 1,034,814 |
| Property, Plant and Equipment, Net | | 1,648,058 | | 1,648,237 |
| Intangibles Resulting from Business Acquisitions | | 530,464 | | 551,849 |
| Other Assets | | 91,610
| | 56,336
|
Total assets | $ | 3,404,098
| $ | 3,291,236
|
| |
| LIABILITIES AND STOCKHOLDERS' EQUITY | | | | |
| Current Liabilities: | | | | |
Accounts payable | $ | 156,937 | $ | 146,932 |
Accrued liabilities | | 294,415 | | 371,545 |
Accrued income taxes | | 17,475 | | 19,692 |
Short-term debt | | 345,908 | | 232,451 |
Current portion of long-term debt | | 89
| | 25,095
|
Total current liabilities
| | 814,824 | | 795,715 |
| Long-term Debt | | 879,103 | | 1,029,136 |
| Other Long-term Liabilities | | 346,769 | | 346,500 |
| Deferred Income Taxes | | 321,101
| | 267,079
|
Total liabilities | | 2,361,797
| | 2,438,430
|
| |
| Stockholders' Equity: | | | | |
Preferred Stock, shares issued: none in 1998 and 1997 | | — | | — |
Common Stock, shares issued:
| 149,502,964 in 1998 and 149,484,964 in 1997 |
| | 149,503 | | 149,485 |
Class B Common Stock, shares issued:
| 30,447,908 in 1998 and 30,465,908 in 1997 |
| | 30,447 | | 30,465 |
Additional paid-in capital | | 29,995 | | 33,852 |
Unearned ESOP compensation | | (25,548) | | (28,741) |
Retained earnings | | 2,189,693 | | 1,977,849 |
Treasury—Common Stock shares, at cost:
| 36,804,157 in 1998 and 37,018,566 in 1997 |
| | (1,267,422) | | (1,267,861) |
Accumulated other comprehensive income | | (64,367)
| | (42,243)
|
| |
Total stockholders' equity
| | 1,042,301
| | 852,806
|
| |
Total liabilities and stockholders' equity
| $ | 3,404,098
| $ | 3,291,236
|
| |
The Consolidated Financial Statements and Management's Discussion and Analysis are included as an appendix to the corporation's Proxy Statement or can be obtained separately through the Investor Relations contact. |
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