1999 Census-Quarterly Financial Report for Manufacturing_ Mining_ and Trade Corporations-Second Quarter

Quarterly Financial Report Report Title for Manufacturing, Mining, and Trade Corporations Quarter 2 1999 Issued September 1999 QFR/99-Q2 US CE NSUS B UR E AU Helping You Make Informed Decisions U.S. Department of Commerce Economics and Statistics Administration U.S. CENSUS BUREAU ACKNOWLEDGMENTS Many people regularly participate in the quarterly production of this report, which is prepared under the general direction of Ruth Runyan, Assistant Chief for Financial Statistics, and under the general supervision of Ewen M. Wilson, Chief, Company Statistics Division. Ronald H. Lee, Chief, Financial Report Branch, plans and manages the financial data collection effort. Ronald B. Horton directs the data analysis activities of James Clayton, James O’Neill, James Pierce, Yolando St. George, Demetria Hanna, Joseph White, and Zenaida Williams. Joseph C. Kirby, Jr. manages the telephone follow-up work of Altessia Blake, Traci Gillespie-Brown, and Lolita Curtis-Hammond, and the data keying by Katrina Reed and Lakeisha TysonCook. Cynthia Frazier provides secretarial support to the branch. Frank M. Hartman, Chief, Corporate Analysis Branch, assisted by Gary Frances, Ruth Gladden, Clement Mbote, James Mercury, Irene Miller, Joan Sanders, Jack Schroeder, Lorraine Talley, and Angela Walker reviews and analyzes corporate structure and industry classification of companies participating in the program. Theresa Brashears, assisted by Shirley Ayres, Donna Moore, and Minnie Whiteside, maintains the program’s records, controls correspondence, and produces mailings. Laura Gonchar Schmitz, assisted by Frances Tucker and Cheryl Nelson, provides sample maintenance, production planning, data processing support, and computer programming. Donna Farley coordinates the various phases of the publication process, including table preparation. Carol Caldwell, Assistant Chief for Research and Methodology, provides monitoring of the integrity of the samples. Mark S. Sands, Chief, Statistical Research and Methods Branch, directs sample design and quality control, assisted by Barbara F. Blass and Amy M. Newman-Smith. Mitchell L. Trager, Assistant Chief for Evaluation and Information Systems, Governments Division, provides general direction of the computer processing of data. Computer programs and network applications are provided under the direction of John Sullivan, Chief of the Systems and Technology Branch. John Studds is responsible for computer program development and network design. The staff of the Administrative and Customer Services Division, Walter C. Odom, Chief, provides publication planning, design, composition, editorial review, and printing planning and procurement for publications, Internet products, and report forms. Nelsa Brown provides publication coordination and editing. Gloria T. Davis provides composition services. A special acknowledgment is due to the many corporations whose cooperation each quarter is essential to the success of this report. Quarterly Financial Report Report Title for Manufacturing, Mining, and Trade Corporations Consumer Income Issue Quarter 2 1999 Issued September 1999 QFR/99-Q2 U.S. Department of Commerce William M. Daley, Secretary Robert L. Mallett, Deputy Secretary Economics and Statistics Administration Robert J. Shapiro, Under Secretary for Economic Affairs U.S. CENSUS BUREAU Kenneth Prewitt, Director SUGGESTED CITATION U.S. Census Bureau, Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations. Second Quarter 1999, Series QFR/99-Q2, U.S. Government Printing Office, Washington, DC, 20402 . ECONOMICS AND STATISTICS ADMINISTRATION Economics and Statistics Administration Robert J. Shapiro, Under Secretary for Economic Affairs U.S. CENSUS BUREAU Kenneth Prewitt, Director William G. Barron, Deputy Director Paula J. Schneider, Principal Associate Director for Programs Frederick T. Knickerbocker, Associate Director for Economic Programs Thomas L. Mesenbourg, Assistant Director for Economic Programs Ewen M. Wilson, Chief, Company Statistics Division For sale by Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402. CONTENTS Index to Quarterly Financial Statistics Introduction . . . . . . . . . . . . . . Tables A. B. C. D. E. F. G. H. I. J. K. L. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . V IX Rates of Change in Sales and Profits of All Manufacturing, Mining, and Trade Corporations, by Division and Major Group . . . . . . Profits Per Dollar of Sales, by Division and Major Group . . . . . . Profits Per Dollar of Sales, Manufacturing Corporations, by Asset Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual Rates of Profit on Stockholders’ Equity, by Division and Major Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual Rates of Profit on Stockholders’ Equity, Manufacturing Corporations, by Asset Size . . . . . . . . . . . . . . . . . . . . Rates of Return, All Manufacturing Corporations . . . . . . . . . Rates of Return, All Mining Corporations, Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rates of Return, All Wholesale Trade Corporations, Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . Rates of Return, All Retail Trade Corporations, Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Composition of the Sample, by Division and Asset Size . . . . . Sampling Variability, by Division and Major Group . . . . . . . . Seasonally Adjusted Net Sales and Net Income After Tax, Manufacturing Corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XXII XXIV XXV XXVI XXVII XXVIII XXIX XXX XXXI XXXII XXXIII XXXIV 1 Financial Data Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . III INDEX TO QUARTERLY FINANCIAL STATISTICS TABLE NO. TITLE ALL MANUFACTURING (Beginning in the first quarter 1987, the universe of manufacturing corporations was redefined to exclude corporations with less than $250,000 in assets at the time of sample selection. See text, page XI) 1.0 1.1 16.0 16.1 45.0 45.1 46.0 46.1 47.0 47.1 48.0 48.1 49.0 49.1 50.0 50.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $$100-$250 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $100-$250 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ALL NONDURABLE MANUFACTURING INDUSTRIES 1.0 1.1 17.0 17.1 45.0 45.1 46.0 46.1 47.0 47.1 48.0 48.1 49.0 49.1 50.0 50.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $$100-$250 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $100-$250 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FOOD AND KINDRED PRODUCTS (INCLUDES TOBACCO)—SIC 20 AND 21 2.0 2.1 19.0 19.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . TEXTILE MILL PRODUCTS—SIC 22 2.0 2.1 20.0 20.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . APPAREL (INCLUDES LEATHER)—SIC 23 AND 31 3.0 3.1 21.0 21.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PAPER AND ALLIED PRODUCTS—SIC 26 3.0 3.1 22.0 22.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PRINTING AND PUBLISHING—SIC 27 4.0 4.1 23.0 23.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14, 15 16, 17 82 83 11 13 80 81 10, 11 12, 13 78 79 7 9 76 77 6, 7 8, 9 74 75 3 5 66, 67 68, 69 127 129 131 133 135 137 139 141 143 145 147 149 2, 3 4, 5 62, 63 64, 65 126 128 130 132 134 136 138 140 142 144 146 148 PAGE(S) V U.S. Census Bureau INDEX TO QUARTERLY FINANCIAL STATISTICS TABLE NO. TITLE CHEMICALS AND ALLIED PRODUCTS—SIC 28 4.0 4.1 24.0 24.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INDUSTRIAL CHEMICALS AND SYNTHETICS—SIC 281, 2, AND 6 5.0 5.1 25.0 25.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DRUGS—SIC 283 5.0 5.1 26.0 26.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RESIDUAL OF CHEMICALS—SIC 284, 5, 7, AND 9 6.0 6.1 27.0 27.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PETROLEUM AND COAL PRODUCTS—SIC 29 6.0 6.1 28.0 28.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RUBBER AND MISCELLANEOUS PLASTICS PRODUCTS—SIC 30 7.0 7.1 29.0 29.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ALL DURABLE MANUFACTURING INDUSTRIES 7.0 7.1 18.0 18.1 45.0 45.1 46.0 46.1 47.0 47.1 48.0 48.1 49.0 49.1 50.0 50.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $5 Million, $5-$10 Million, $10-$25 Million . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25-$50 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50-$100 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $$100-$250 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $100-$250 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $250-$1,000 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $1,000 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . STONE, CLAY, AND GLASS PRODUCTS—SIC 32 8.0 8.1 30.0 30.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PRIMARY METAL INDUSTRIES—SIC 33 8.0 8.1 31.0 31.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 33 98 99 30, 31 32, 33 96 97 27 29 70, 71 72, 73 127 129 131 133 135 137 139 141 143 145 147 149 26, 27 28, 29 94 95 23 25 92 93 22, 23 24, 25 90 91 19 21 88 89 18, 19 20, 21 86 87 15 17 84 85 PAGE(S) VI U.S. Census Bureau INDEX TO QUARTERLY FINANCIAL STATISTICS TABLE NO. TITLE IRON AND STEEL—SIC 331, 2, AND 9 9.0 9.1 32.0 32.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NONFERROUS METALS—SIC 333-6 9.0 9.1 33.0 33.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FABRICATED METAL PRODUCTS—SIC 34 10.0 10.1 34.0 34.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MACHINERY, EXCEPT ELECTRICAL—SIC 35 10.0 10.1 35.0 35.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ELECTRICAL AND ELECTRONIC EQUIPMENT—SIC 36 11.0 11.1 36.0 36.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . TRANSPORTATION EQUIPMENT—SIC 37 11.0 11.1 37.0 37.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MOTOR VEHICLES AND EQUIPMENT—SIC 371 12.0 12.1 38.0 38.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . AIRCRAFT, GUIDED MISSILES, AND PARTS—SIC 372, 6 12.0 12.1 39.0 39.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INSTRUMENTS AND RELATED PRODUCTS—SIC 38 13.0 13.1 40.0 40.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OTHER DURABLE MANUFACTURING INDUSTRIES 13.0 13.1 41.0 41.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 53 118 119 50, 51 52, 53 116 117 47 49 114 115 46, 47 48, 49 112 113 43 45 110 111 42, 43 44, 45 108 109 39 41 106 107 38, 39 40, 41 104 105 35 37 102 103 34, 35 36, 37 100 101 PAGE(S) VII U.S. Census Bureau INDEX TO QUARTERLY FINANCIAL STATISTICS TABLE NO. TITLE LUMBER AND WOOD PRODUCTS—SIC 24 14.0 14.1 42.0 23.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FURNITURE AND FIXTURES—SIC 25 14.0 14.1 43.0 43.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MISCELLANEOUS MANUFACTURING—SIC 39 15.0 15.1 44.0 44.1 Income Statement—Universe and Total Assets Under $25 Million . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Universe and Total Assets Under $25 Million. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income Statement—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $25 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58, 59 60, 61 124 125 55 57 122 123 54, 55 56, 57 120 121 PAGE(S) (Beginning in the fourth quarter of 1988, the mining, wholesale and retail trade tables only include estimates for corporations with assets of $50 million or over at the time of sample selection. See text, page XIV) ALL MINING 51.0 51.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ALL WHOLESALE TRADE 51.0 51.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . WHOLESALE TRADE-DURABLE GOODS—SIC 50 51.0 51.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . WHOLESALE TRADE-NONDURABLE GOODS—SIC 51 51.0 51.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ALL RETAIL TRADE 52.0 52.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RETAIL-GENERAL MERCHANDISE STORES—SIC 53 52.0 52.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RETAIL-FOOD STORES—SIC 54 52.0 52.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RETAIL-ALL OTHER 52.0 52.1 Income Statement—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Balance Sheet—Total Assets $50 Million and Over . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 157 155 157 155 157 154 156 151 153 151 153 151 153 150 152 VIII U.S. Census Bureau Introduction THE QUARTERLY FINANCIAL REPORT PROGRAM publishes up-to-date aggregate statistics on the financial results and position of U.S. corporations. Based upon an extensive sample survey, the Quarterly Financial Report (QFR) presents estimated statements of income and retained earnings, balance sheets, and related financial and operating ratios for all manufacturing corporations and large mining and trade corporations. The statistical data are classified by industry and by asset size. Pertinent data are provided, when possible, on material distortions in comparability owing to changes in accounting conventions or user needs. Purpose of Report: The main purpose of the QFR is to provide timely, accurate data on business financial conditions for use by Government and private-sector organizations and individuals. Among its users, the Commerce Department regularly employs QFR data as an important component in determining corporate profits for GDP and National Income estimates; the Federal Reserve Board uses the QFR to assess industrial debt structure, liquidity, and profitability; the Treasury Department estimates corporate tax liability through use of QFR data; the Council of Economic Advisors and Congressional Committees utilize key indicators derived from QFR data as they design economic policies and draft legislation; the Federal Trade Commission (FTC) utilizes the series as a basic reference point in analyzing the financial performance of American industries; and banking institutions and financial analysts draw upon the series in making investment evaluations. Responsibility: The QFR is prepared by the Company Statistics Division, Bureau of the Census, Washington, DC 20233, telephone 301-457-3343. The FTC had been responsible for the program from inception in 1947 until December 1982. That responsibility was shared with the Securities and Exchange Commission until 1971. The program designs and maintains on a current basis statistical cross sections (i.e., probability samples) of corporate enterprises; collects, analyzes, and summarizes periodic confidential reports from those corporations; estimates national aggregates based upon the individual company reports; and publishes the resulting aggregates. Publication Schedules: QFR data is scheduled for release approximately 75 days after the end of the first, second, and third calendar quarters and approximately 95 days after the end of the fourth calendar quarter. The QFR publishes information on the most recently closed quarter for manufacturing, mining, and wholesaling and the preceding quarter’s data for retailing except in the fourth quarter, when the 95-day publication lag permits synchronized presentation. The following table defines the four reporting quarters for the surveyed industry divisions in terms of the month in which any given surveyed corporation’s fiscal quarter ends: Reporting Quarters for Surveys Industry Divisions* QFR Quarter First . . . . . . . Second . . . . Third. . . . . . . Fourth . . . . . Manufacturing, Mining, and Wholesale Trade Jan., Feb., or Mar. Apr., May, or Jun. Jul., Aug., or Sep. Oct., Nov., or Dec. Retail Trade Feb., Mar., or Apr. May, Jun., or Jul. Aug., Sep., or Oct. Nov., Dec., or Jan. *Coverage is for corporations whose quarter ends as indicated. Coverage: Since the fourth quarter of 1973, reporting corporations have been instructed to consolidate the domestic operations of every corporation which is taxable under the U.S. Internal Revenue Code and is owned more than 50 percent by a reporting corporation and its majority-owned subsidiaries. In addition, consolidation is required for every majority-owned Domestic International Sales Corporation. Corporations that manufacture goods within the United States or base their sales activity in the United States and export their goods are considered domestic and are consolidated. Specifically excluded from consolidation are foreign entities (either corporate or noncorporate), foreign branch operations, and domestic corporations primarily engaged in foreign operations. Therefore, subsidiaries that were created in foreign countries to manufacture and/or sell primarily in foreign markets are not consolidated. Also excluded from consolidation are domestic corporations primarily engaged in banking, finance, or insurance (as defined in Major Groups 60-63 and in Group 672 of the Standard Industrial Classification Manual, 1987 (SIC Manual)). Consolidation is optional for domestic corporations required to file monthly or quarterly financial statements with the Interstate Commerce Commission, the Federal Communications Commission, or the Federal Energy Regulatory Commission. Nonconsolidated subsidiaries are accounted for on either the cost or equity method of accounting, at the option of the reporting company. Mining, wholesale, and retail trade corporations and manufacturing corporations with assets less than $50 million report their dividend or IX U.S. Census Bureau equity income with other nonoperating income (expense). Manufacturing corporations with assets of $50 million and over report their dividend or equity income on designated data lines. How Corporations Are Classified by Industry: The industry combinations used in the QFR are defined in accordance with the Standard Industrial Classification Manual, 1987. The SIC Manual has the industry detail necessary to classify the product lines used for coding the sample corporations. Each corporation in the survey is required to provide a breakdown of gross receipts by source industry. These data are analyzed to determine the classification of each corporation. A reporting corporation is initially classified into the SIC division accounting for more gross receipts than any other SIC division. To be in scope for the QFR, more gross receipts of the reporting corporation must be accounted for by either (not a combination of) SIC Division B (Mining), Division D (Manufacturing), Division F (Wholesale Trade), or Division G (Retail Trade) than by any other SIC division. For the most part, after a corporation is assigned to a division, it is further classified by the 2-digit SIC major group accounting for more gross receipts than any other 2-digit group within the division. In certain cases, corporations are further classified into 3-digit SIC groups. QFR data are published for these major groups except when precision criteria are not satisfied. In those cases, major groups are collapsed into a residual category, such as Other Durable Manufacturing Industries. Note that these procedures may lead to a conglomerate corporation being assigned to a major group from which only a small proportion of its receipts are obtained. For example, if a corporation obtains 25 percent of its gross receipts from mining activities, 30 percent from manufacturing, 20 percent from wholesale, and 25 percent from retail, it would be classified in the Manufacturing Division. Furthermore, if the 30 percent of manufacturing activity was conducted in two major groups, 20 percent in one and 10 percent in the other, the activities of the corporation as a whole would be classified in the major group accounting for 20 percent of total receipts. When a corporation is drawn into the sample, its classification is determined using the most current information available. The corporation remains in that category for eight quarters unless there is a change in its corporate structure or it is deleted from the sample. After eight quarters, its classification is reviewed again using the most current information available. If there is a change in reporting entity’s corporate structure (e.g., merger, acquisition, or divestiture), its industry classification is reviewed at the time of change. How Corporations Are Classified by Size: Each reporting manufacturing corporation is classified and tabulated according to its total assets reported for that X quarter. Prior to 1973, each manufacturing corporation was classified according to its total assets at the end of the quarter for which it first submitted a report. Unless deleted from the sample in the interim, it remained in the same asset size category until the first quarter of the following calendar year when it was classified according to its total assets at the end of that quarter. Mining and trade corporations are classified and tabulated according to total assets at time of sample selection. Prior to fourth quarter 1987, they were classified according to total assets at the end of the reference quarter. Ratio Formatted Data: Many quantitative indicators are used to assess the financial strength of an enterprise and the success of its operations. The simplest is to assemble related financial items, such as sales and profits, and to express this relationship in the form of a ratio. Using these ratios, various aspects of corporate operations may be compared with the performance of other corporations or groups of corporations of similar size or in a similar industry. The QFR’s ratio formatted income statement and selected balance sheet ratios are expressed as a percent of net sales and total assets, respectively. The operating and financial characteristics of the respective industries and asset size groups are thus reduced to a common denominator to facilitate analysis. The ratio tables include the following additional basic operating ratios: a. Annual Rate of Profit on Stockholders’ Equity at End of Period. This ratio is obtained by multiplying income for the quarter before or after domestic taxes (including branch income (loss) and equity in the earnings of nonconsolidated subsidiaries net of foreign taxes) by four, to put it on an annual basis, and then dividing by stockholders’ equity at the end of the quarter. It measures the rate of return which accrues to stockholders on their investment. b. Annual Rate of Profit on Total Assets. This ratio is obtained by multiplying income, as defined in deriving the rate of profit on stockholders’ equity, both before and after taxes, by four, and then dividing by total assets at the end of the quarter. This ratio measures the productivity of assets in terms of producing income. c. Total Current Assets to Total Current Liabilities. This ratio is obtained by dividing total current assets by total current liabilities. It measures the ability to discharge current maturing obligations from existing current assets. d. Total Cash and U.S. Government and Other Securities to Total Current Liabilities. This ratio is obtained by dividing total cash and U.S. Government and other securities by total current liabilities. It measures the ability to discharge current liabilities from liquid assets. U.S. Census Bureau e. Total Stockholders’ Equity to Total Debt. This ratio is obtained by dividing total stockholders’ equity by the total of short-term loans, current installments on longterm debt, and long-term debt due in more than 1 year. It indicates the extent of leverage financing used. Description of the Sample: The frame from which the major portion of the sample is selected consists of the Internal Revenue Service (IRS) file of those corporate entities which are required to file Form 1120, 1120A, or 1120S and which also have as their principal industrial activity either manufacturing, mining, or wholesale or retail trade. The IRS frame is stratified based on industry classification and size of total assets and gross receipts. This frame is sampled once each year. Nearly all corporations whose operations are within the scope of the QFR and which have total assets of $250 million and over are included in the sample with certainty (i.e., they have a 1-out-of-1 sampling fraction). Manufacturing corporations with total assets of less than $250 million are subject to a noncertainty stratified simple random sample, as are those corporations in mining, wholesale trade, and retail trade with total assets equal to $50 million and over and less than $250 million. The sampling rates range from approximately 1-out-of160 to 1-out-of-2. Table J summarizes the resulting active sample sizes by division and size groups. Corporations in the noncertainty portion of the sample are rotated into the survey using a replacement scheme which provides that one-eighth of the sample is replaced each quarter. Corporations removed are those that have been in the reporting group the longest (usually eight quarters). Therefore, samples of noncertainty corporations for adjacent quarters are seven-eights identical; for quarters ending nine months apart, they are five-eights identical, etc. The IRS frame does not contain those corporate entities whose first income tax return had not been processed. In addition, several months elapse between the sample selection and its introduction into the QFR program. To keep the QFR sample of larger corporations (i.e., those with total assets of at least $250 million) as up-to-date as possible, a separate nonprobability procedure is followed. Each quarter, a file containing applications for a Federal Social Security Employer’s Identification Number filed with the Social Security Administation during the previous quarter by new corporations is reviewed. Corporations thought to meet QFR’s in-scope criteria are mailed classification forms. If their response indicates that the corporation does meet QFR’s in-scope criteria, they will be included in the survey with certainty for the remainder of the year. Precision of the Estimates: There are two types of errors possible in an estimate based on a sample survey, sampling and nonsampling. Sampling errors occur because observations are made only on a sample, not on the entire population. Nonsampling errors can be attributed to many sources in the collection and processing of data. The accuracy of a survey result is determined by the joint effects of sampling and nonsampling errors. Measures of Sampling Error: The particular sample used in this survey is one of a large number of all possible samples of the same size that could have been selected using the same design. Estimates derived from the different samples would differ from each other. The average of these estimates would be close to the estimate derived from a complete enumeration of the population. This assumes that a complete enumeration has the same nonsampling errors as the sample surveys. The standard error of the estimate is a measure of the variability among the estimates from all possible samples of the same size and design and, thus, is a measure of the precision with which an estimate from a particular sample approximates the results of a complete enumeration. The coefficient of variation (expressed as a percent) is the standard error of the estimate times 100 percent, divided by the estimate. Note that the coefficient of a variation is an estimate derived from the sample and is also subject to sampling variability. Table K gives the estimates of the coefficients of variation in percent for the quarterly dollar value of Net sales, Depreciation, Inventories, and Total assets estimates as shown in this report. Also in Table K are the estimates of the standard errors for the item Income before income taxes. Note that these estimated coefficients of variation and standard errors are biased downward because of present estimation techniques for the standard error. Therefore, the estimated coefficients of variation and the standard error represent a lower bound to this measure of precision. The coefficients of variation presented in the table permit certain confidence statements about the sample estimates. As noted before, the particular sample used in this survey is one of a large number of samples of the same size that could have been selected using the same design. In about 2 out of 3 (67 percent) of these samples, the estimate would differ from a complete enumeration by less than the corresponding percent for that estimate shown in the sampling variability table. In about 19 out of 20 (95 percent) of these samples, the estimates would differ from the results of a complete enumeration by less than twice the percentage shown. To illustrate the computations involved in the above confidence statements as related to dollar volume net sales estimates, assume that an estimate of net sales for all manufacturing published in Table 1.0 is $525,000 million for a particular quarter and that the coefficient of variation for this estimate, as given in Table K is 0.2 percent or 0.002. Multiplying $525,000 million by 0.002 yields $1,050 million. Therefore, a 67-percent confidence interval is $523,950 million to $526,050 million ($525,000 million plus or minus $1,050 million). If corresponding confidence intervals were constructed for all XI U.S. Census Bureau possible samples of the same size and design, approximately 2 out of 3 (67 percent) of the intervals would contain the figure obtained from a complete enumeration. Similarly, a 95-percent confidence interval is $522,900 million to $527,100 million ($525,000 million plus or minus $2,100 million). To illustrate the computations involved in the above confidence statements as related to income before income taxes estimates, assume that an estimate of income before income taxes for all manufacturing published in Table 1.0 is $18,571 million for a particular quarter and that the standard error for this estimate, as given in Table K is 0.3. Thus, a 67-percent confidence interval is $18,570.7 million to $18,571.3 million ($18,571 million plus or minus $0.3 million). This 67-percent confidence interval would have the same properties as the 67-percent confidence interval discussed in the previous paragraph. A 95-percent confidence interval is $18,570.4 million to $18,571.6 million ($18,571 million plus or minus $0.6 million). Nonsampling Errors: Nonsampling errors arise from many sources: (1) inability to obtain information about all cases in the sample, (2) response errors, (3) definitional difficulties, (4) differences in the interpretation of questions, (5) mistakes in recording or coding the data obtained, and (6) other errors of collection, response, coverage, and estimation of missing data. These nonsampling errors also occur in complete censuses. Some examples of circumstances and individual corporate practices which lead to nonsampling errors are: a. Corporations in Chapter XI bankruptcy are unable to prepare a report within QFR time frames. Although these corporations have continuing operations and are therefore required to file QFR reports, courtimposed constraints sometimes make timely compliance impossible. b. Requiring precise, audited data to be reported within 25 days after the end of the corporation’s quarter could impose a significant burden. Therefore, the submission of estimated data is permissible. This practice may lead to some measurement error. c. Small corporations frequently lack sophisticated recordkeeping systems to generate quarterly financial data. They also may lack the staff to prepare precise, detailed QFR reports. Inconsistency in classification of data items from quarter to quarter may lead to a bias of unknown direction. d. Occasionally, corporations electing to be taxed through their shareholders (1120S) and cooperatives are drawn into the sample. These enterprises use specialized systems of accounts and terminology in reporting financial results. There are parallel classifications created to link traditional corporate accounting to this specialized accounting, but the resulting match is not perfect. The XII sales and profits of cooperatives and 1120S corporations are small relative to most industry totals, but their special problems do lessen estimate accuracy. As calculated for this report, the coefficients of variation measure certain nonsampling errors but do not measure any systematic biases in the data. Bias is the difference, averaged over all possible samples of the same size and design, between the estimate and the true value being estimated. Although no direct measures of the biases have been obtained, precautionary steps were taken in all phases of the collection, processing, and tabulation of the data in an effort to minimize their influence. One major source of bias in the published estimates is due to imputing data for nonrespondents, for late reporters, and for data which fail edit. Comparisons with Other Statistics: QFR estimates will not necessarily agree with other financial and industrial statistics compilations whether based upon a sample or complete canvass. For example: a. The QFR eliminates multiple counting of interplant and other intracompany transfers included in census establishment statistics. It also eliminates multiple counting of intercorporate transfers included in statistics based upon nonconsolidated, partly consolidated, or combined reports from multicorporate enterprises. b. Each corporation which filed either a U.S. Corporation Income Tax Return (i.e., Form 1120 or 1120S) or an application for a Federal Social Security Employer’s Identification Number and was classified in one of the four QFR industry divisions has a known probability of being drawn into the QFR sample. Each corporation in the QFR sample is therefore given its proper weight in computing the QFR estimates. The composition of the sample changes each quarter to reflect the effects of corporate births, deaths, acquisitions, divestitures, mergers, consolidations, and the like. Furthermore, to redistribute the reporting responsibility as equitably as possible among the smallest corporations, one-eighth of the nonexhaustive sample stratum is replaced each quarter. The QFR estimates may therefore differ significantly from estimates based upon reports for identical groups of corporations. c. The conventional accounting concept of profits is used in the QFR estimates. This differs from the concept of profits employed in the national income and product accounts. In measuring profits for national income accounting purposes, capital gains and dividends received by corporations are deducted from profits, capital losses and depletion charges are added to profits, and adjustments are made for international flows affecting profits. d. Corporations’ QFR submissions generally embody the accounting conventions adopted for financial reporting purposes. As such, they may differ from those used by U.S. Census Bureau corporations for reporting income to the IRS; e.g., in the more frequent application of accelerated depreciation on tax returns. Therefore, annual income and balance sheet information derived from tax returns dating back to 1909, which can be found in the IRS report series Statistics of Income: Corporation Income Tax Returns, may not be comparable. e. QFR estimates by corporation size are based upon the total assets of consolidated corporate enterprises. They differ from estimates based upon other criteria such as value of shipments or number of employees. They differ also from estimates based upon other reporting units such as establishments, nonconsolidated corporations, or enterprises consolidated differently than in the QFR. f. QFR estimates are based upon a changing sample of audited, unaudited, and estimated reports required to be submitted within 25 days after the end of each quarterly reporting period by corporations which are not necessarily identical entities from quarter to quarter. Aggregated for any four consecutive quarters, the QFR estimates will differ from similar aggregations of finalized and audited annual reports for accounting years which are not necessarily identical from corporation to corporation. Changes in the Series—Accounting: When the QFR series began in 1947, corporations were instructed to consolidate all of their subsidiaries which were taxable under the U.S. Internal Revenue Code and which were fully consolidated in their latest report to stockholders. All other subsidiaries were to be accounted for as investments. Closely held corporations which did not prepare stockholder reports were to report on a basis consistent with their audited or corporation prepared reports. The income tax liability rule was expected to eliminate most foreign operations. However, as the number of multinational corporations increased between 1947 and 1973, foreign operations gradually became more and more significant in the QFR data. An interagency task force composed of user agency representatives was created to resolve this problem. New consolidation rules were put into effect in the fourth quarter of 1973 to maximize coverage and minimize the impact of foreign operations on QFR statistics (see Coverage). As a result of these changes, foreign operations are included on an investment basis. In addition, the breadth of the new consolidation rules was expanded to include certain domestic subsidiaries previously excluded under the old rules. Also, the rules were clarified with respect to the scope of coverage. Domestic subsidiaries engaged in banking, finance, or insurance are not to be consolidated. The change in consolidation rules and the creation of a line item to reflect equity in earnings from nonconsolidated subsidiaries significantly lessened the comparability of pre- and post-Q4 1973 reports. QFR internal accounting procedures prior to the rule change required the classification of equity in earnings (losses) as a direct credit or charge to retained earnings. Therefore, when a reporting corporation indicated by footnote that its equity in nonconsolidated subsidiary earnings (losses) was included in its current quarter’s income (loss), the QFR accounting staff made the appropriate adjustment. With the advent of this format, this adjustment is not made. Thus, the equity in earnings (losses) is accounted for as an element of the parent corporation’s quarterly income (loss) after taxes. The treatment of dividend income received from nonconsolidated subsidiaries accounted for by the cost method has remained consistent under both the new and old format. In these instances, dividends received are included in net income before taxes through the nonoperating income line. A comparison of aggregated totals published under both the old and new consolidation rules indicates the following:1 a. There was a net decrease in sales, apparently due to the exclusion of foreign activities previously included. b. There was a net decrease in Net Income Before Taxes (NIBT), apparently due to two major effects. Equity in earnings (losses) from nonconsolidated subsidiaries is reflected on a designated line below NIBT, whereas prior reports often included this amount in NIBT. If the reporting company did not footnote this inclusion, QFR accountants were unable to make the proper adjustment. If foreign activity was fully consolidated, foreign earnings were also included in NIBT. The new consolidation rules minimize this effect as well. c. The net effect of the rule changes on Net Income After Taxes (NIAT) was small. Under both rules, foreign activity should be included above the NIAT line. The slight degree of difference also suggests that the QFR footnoted equity in earnings (losses) of nonconsolidated subsidiaries were not extensive enough to affect comparative published data materially. d. Noncurrent Assets include investments in nonconsolidated subsidiaries under either the cost or equity method. The rule change precluding full consolidation of foreign activity caused a marked increase in this line item. Corporations that consolidated foreign activity fully up to 1973 were required to eliminate their investment in accordance with generally accepted accounting principles. Now, since foreign activity is not fully consolidated, investments in these subsidiaries are included in the noncurrent asset line. Changes in the Series—Industry Classification: In the reports for the first quarter of 1947 through the fourth quarter of 1958, classification was based on the 1945 edition of the SIC Manual. Beginning with the first quarter of 1 See the QFR, Second Quarter 1975, Appendix Tables I and II. XIII U.S. Census Bureau 1959, corporations were classified within the framework of the 1957 SIC edition. The SIC was revised again in 1967, but did not affect the level of aggregation used in the QFR. A 1972 SIC revision required the reclassification of some corporations. Reclassifications having a measurable effect on the industry estimates were incorporated in the fourth-quarter revision of the 1972 data published in the first quarter of the 1973 QFR. Similarly, the 1987 SIC revision has resulted in some reclassifications. Revisions of 1987 data provided in the first quarter of 1988 include measurable changes. Beginning in 1969, Newspaper Publishing was included in the QFR coverage of manufacturing corporations. Prior to the first quarter of 1974, a corporation was classified as a manufacturer only if 50 percent or more of its gross receipts were derived from manufacturing operations. The new classification rules (see How Corporations Are Classified by Industry) are more inclusive. Therefore, in the series existing prior to 1974, fewer corporations qualified for inclusion as manufacturers. Changes in the Series—Sampling: The first sample in this survey was drawn from U.S. Corporation Income Tax Returns (Form 1120) filed with IRS for the taxable year 1943. A second sample was drawn from income tax returns for the taxable year 1949. The third (current) sample was drawn from income tax returns for the taxable year 1954 and each taxable year thereafter. Each sample has been supplemented by quarterly samples of applications for a Federal Social Security Employer’s Identification Number filed with the SSA. The second and third samples were drawn in order to redistribute the reporting responsibility among the smallest corporations and to maintain representativeness on a current basis. (The older the sample, the less representative it is of the current population.) The third (current) sample meets both requirements to the fullest extent permitted by known sampling methodology, consistent with a minimal budgetary allocation. The first sample was used to generate estimates for each quarter in calendar years 1947 to 1951, inclusive; the second sample, from the third quarter of 1951 to the second quarter of 1956, inclusive; the third (current) sample, from the second quarter of 1956 to date. From the third quarter 1977 through the fourth quarter 1986, the strata including very small manufacturing firms (generally those with assets less than $250,000) and all newly incorporated manufacturers were estimated for by multivariate techniques. Beginning in the first quarter 1987, the QFR universe of corporations has been redefined to exclude these strata. In the fourth quarter of 1987 through the third quarter of 1988, the mining, wholesale and retail trade tables only included estimates for corporations with assets of $25 million and over at the time of sample selection, fall 1987. Prior to that quarter, estimates were based upon reports from corporations with that XIV asset level at the end of the reference quarter. Beginning in the fourth quarter of 1988, the asset level for inclusion in published mining, wholesale and retail trade estimates was raised to $50 million at the time of sample selection. For 50 years, the QFR Program has requested a sample of corporations to file financial data on a universal form. In 1980, Congress mandated a reduction in both QFR form complexity and sample size. In response, the program adopted a short form for surveyed corporations generally with total assets of less than $50 million. Corporations with higher asset values submit the long form, which has been in use since 1974. To accomplish the sample size cut, the threshold for sampling on less than a 1:1 ratio was raised from $10 million to $25 million in assets. The threshold for sampling was subsequently raised to $50 million in 1988 and to $250 million in 1995. (See Description of the Sample on page XI.) The resulting reduced sample size was optimally allocated with further cuts made in asset sizes below $10 million. The results of these changes are reflected beginning in the Q4 1981 report as follows: a. Tables presenting universe estimates by SIC division and major group are published on the short-form basis. Therefore, the more detailed data submitted by larger corporations (generally those with assets of $50 million and over) are collapsed in these tables. Immediately following, on pages XVII and XVIII, is a table used by the program which provides the reader with a key to trace ‘‘long’’ to ‘‘short’’ format conversion. b. Tables presenting estimates by major group for manufacturing corporations with assets of $25 million and over are published on the long-form basis but are presented separately. c. The combination of change in sample design; i.e., raising of the sampling threshold with further sample size cuts in small company strata, and the updating of IRS population estimates necessitated revision of previously published estimates for Q4 1980-Q3 1981. d. It is especially important to note that published universe estimates of ‘‘Income (or loss) before taxes’’ include all equity in earnings (losses) from nonconsolidated subsidiaries and foreign branches. This change places these universe estimates on a different basis than those previously published. To minimize the impact of this change, please consider the following: 1. Corporations filing the ‘‘short form’’ report equity in earnings (losses) of nonconsolidated subsidiaries and foreign branches as a component of ‘‘Net nonoperating income (expense).’’ Although this treatment will introduce elements of foreign earnings (losses) into ‘‘Income (or loss) before income taxes,’’ the contribution of foreign earnings (losses) of these smaller asset size corporations to this data item has been historically insignificant. U.S. Census Bureau 2. Corporations with assets of $50 million and over continue to report equity in earnings (losses) as a separate data item. As can be seen in the conversion table (following page), this data item is collapsed for universe estimation into ‘‘Net nonoperating income (expense).’’ However, since these larger asset size corporations continue to report equity in earnings (losses) separately, as reflected in the tables published for corporations with assets of $25 million and over, comparability with prior data can be achieved, for the most part, through subtraction. New tables were also introduced in the Q4 1981 publication that provide the user with the following: a. Asset size data (under $25 million, $25 million and over) by SIC major groups in manufacturing; b. SIC major group data for wholesale trade (SIC 50 and 51) and retail trade (SIC 53, 54, and all other); c. More asset size breaks for durable and nondurable manufacturing industries; and d. Historical rates of return tables for wholesaling, retailing, and mining. Data Revisions: Revisions to the QFR data are attributable primarily to industry reclassifications of major corporations involved in merger/acquisition activities or restructuring of operations. In order to reflect these changes and to provide users with comparable data, revisions are made each quarter to the most recent four quarters of previously published data. Also, when respondents submit corrections after publication, we reflect such corrections in the next publication. Summary Chronology of Discontinuities: Because of the various QFR series changes discussed above, discontinuities were introduced that affect use of the published estimates in constructing time series. In order to help users evaluate the adequacy of past data for the analysis of economic changes, a table of discontinuities is provided. Note that not all aggregates are affected by all discontinuities. The user will need to examine each situation in the light of his or her needs. XV U.S. Census Bureau CONVERSION TABLE LONG TO SHORT FORMAT LONG FORMAT Net sales, receipts and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant and equipment. . . . . . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other recurring nonoperating income (expense), including interest income, royalties,and minority interest Nonrecurring items (gain/loss on sale of assets, restructuring costs, and asset writedowns) . . . . . . . . . Net income (loss) of foreign branches and equity in earnings (losses) of domestic and foreign nonconsolidated subsidiaries and other investments accounted for by the equity method, net of foreign taxes . . . . . . [4] [5] [5] [5] [5] [4] [5] [1] [2] [3] [1] [2] [3] U.S. Census Bureau SHORT FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant and equipment. . . . . . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [6] Provision for current and deferred domestic income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [6] [6] [7] Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [8] [9] [9] [9] Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (charges) to retained earnings (net), including stock and other non-cash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [7] INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant and equipment. . . . . . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes: a. Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Extraordinary gains (losses), net of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cumulative effect of accounting changes, net of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income (or loss) for quarter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (charges) to retained earnings (net), including stock and other non-cash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant and equipment. . . . . . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other recurring nonoperating income (expense), including interest income, royalties, and minority interest . Nonrecurring items (gain/loss on sale of assets, restructuring costs, and asset writedowns) Net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [8] [9] XVII CONVERSION TABLE LONG TO SHORT FORMAT LONG FORMAT ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit . . . . . . . . . . . . . . . . . . . Deposits outside the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash on hand and in banks . . . . . . . . . . . . . . . . . . . . . . U.S. Treasury and Federal agency securities: (a) Subject to agreements to sell. . . . . . . . . . . . . . . . . . . . . . . . . (b) Other, due in 1 year or less . . . . . . . . . . . . . . . . . . . . . . . . . . Commercial and finance company paper of U.S. issuers . . . . . . . . . . . State and local government securities due in 1 year or less. . . . . . . . . Foreign securities due in 1 year or less . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including bankers’ acceptances . ....................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [3] [3] [3] [3] [3] [3] [4] [4] [5] [6] [10] [7] [8] [9] [10] [10] ............. [3] [1] [2] [3] [1] [2] XVIII Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.S. Treasury and Federal agency securities due in more than 1 year . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term intangibles, etc Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c. Other short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Advances and prepayments by U.S. Government . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments: a. Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Bonds and debentures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses. Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Bonds and debentures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes and capitalized stockholders’ interest in consolidated domestic corporations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cumulative foreign currency translation adjustment Other stockholders’ equity items (unearned compensation, ESOP debt guarantees, etc.) Less: Treasury stock, at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL: Excess of total current assets over total current liabilities. . . U.S. Census Bureau . . . . SHORT FORMAT ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit . . . . . . . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [4] [5] [6] Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [7] [8] [9] Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY [11] [12] [13] [14] [15] [16] [17] Short-term debt, original maturity of 1 year or less: a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments Installments, due in 1 year or less, on long-term debt: a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade receivables from U.S. Government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other trade accounts and trade notes receivable (less allowances for doubtful receivables). . . . . . . . . . . Total receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............. ............. investments, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [11] [12] [12] [17] [13] [14] [14] [15] [16] [16] [17] ............................. ............................. accrued expenses . . . . . . . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [18] [19] [20] Long-term debt (due in more than 1 year): a. Loans from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . ... ... and ... .............. .............. minority .............. ............... ............... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [21] [22] Capital stock and other capital (less treasury stock). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................... .............. .............. .............. leases and minority .............. ..... ..... ..... ..... [18] [19] [19] [20] [21] [22] [21] [21] [21] NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............ ............ ............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SUMMARY DATA TABLES XXI U.S. Census Bureau TABLE A RATES OF CHANGE IN SALES AND PROFITS OF ALL MANUFACTURING, MINING, AND TRADE CORPORATIONS, BY DIVISION AND MAJOR GROUP (An electronic version of selected data from this table is available on the internet at http:›ww.census.gov/agfs/www/qfr.html. For further information, contact Customer Services, ACSD, U.S. Census Bureau, Washington, DC 20233, or call 301-457-4100) Sales Industry 2Q 19982 1Q 19992 (million dollars) All manufacturing corporations. . . . . . . . . . . . . . . . . . . . . . . Nondurable manufacturing corporations . . . . . . . . . . . . . . Food and kindred products4 . . . . . . . . . . . . . . . . . . . . Textile mill products . . . . . . . . . . . . . . . . . . . . . . . . . . . . Apparel6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paper and allied products . . . . . . . . . . . . . . . . . . . . . . Printing and publishing . . . . . . . . . . . . . . . . . . . . . . . . . Chemicals and allied products . . . . . . . . . . . . . . . . . . Industrial chemicals and synthetics7 . . . . . . . . . . Drugs7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Residual of chemicals7. . . . . . . . . . . . . . . . . . . . . . Petroleum and coal products. . . . . . . . . . . . . . . . . . . . Rubber and miscellaneous plastics products . . . . . . Durable manufacturing corporations. . . . . . . . . . . . . . . . Stone, clay, and glass products. . . . . . . . . . . . . . . . . . . . Primary metal industries . . . . . . . . . . . . . . . . . . . . . . . . . . Iron and steel7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nonferrous metals7 . . . . . . . . . . . . . . . . . . . . . . . . . Fabricated metal products . . . . . . . . . . . . . . . . . . . . . . Machinery, except electrical. . . . . . . . . . . . . . . . . . . . . Electrical and electronic equipment . . . . . . . . . . . . . . Transportation equipment. . . . . . . . . . . . . . . . . . . . . . . Motor vehicles and equipment7 . . . . . . . . . . . . . . Aircraft, guided missiles, and parts7 . . . . . . . . . . Instruments and related products . . . . . . . . . . . . . . . . . Other durable manufacturing corporations . . . . . . . . . Lumber and wood products7 . . . . . . . . . . . . . . . . . Furniture and fixtures7 . . . . . . . . . . . . . . . . . . . . . . Miscellaneous manufacturing7 . . . . . . . . . . . . . . . All mining corporations8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . All retail trade corporations8 . . . . . . . . . . . . . . . . . . . . . . . . . All wholesale trade corporations8 . . . . . . . . . . . . . . . . . . . . 1 2 3 Rate of change 2Q 1999 2Q 1998 to 2Q 1999 (percent) 1,036,995 460,307 120,896 15,436 16,758 42,579 47,387 117,435 38,452 39,817 39,165 69,497 30,319 576,688 19,762 36,398 17,843 18,554 46,761 111,873 120,248 164,956 115,228 39,411 29,663 47,028 19,446 17,761 9,820 16,220 NA 288,997 +4 +2 3 3 3 3 3 1Q 1999 to 2Q 1999 997,859 450,471 121,068 16,398 17,548 41,730 46,484 109,329 37,763 34,456 37,109 65,790 32,124 547,388 20,074 40,851 20,791 20,061 46,759 113,520 112,518 139,364 92,503 38,323 29,769 44,533 17,868 16,801 9,864 17,250 274,552 272,266 971,178 431,760 119,426 14,987 17,123 39,583 46,129 111,805 35,965 38,477 37,363 54,293 28,413 539,418 17,662 34,752 16,631 18,122 45,435 103,807 116,188 151,083 103,578 38,115 27,758 42,733 17,138 16,629 8,965 15,895 286,899 270,590 +7 +7 3 3 3 +8 3 +7 3 +5 +7 3 +16 +6 +6 3 +5 +28 3 +5 3 +7 +12 3 −11 −14 −8 3 3 +7 3 3 +7 +18 +25 +3 3 3 3 3 3 +8 +3 +9 +11 +3 +7 +10 +13 3 3 3 −6 NA +6 NA +7 Includes net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries net of foreign taxes. Some of the data in this column have been revised since their first appearance. See footnotes to Tables 1.0 — 52.1. Sampling variability precludes characterizing change. 4 Includes tobacco industry. 5 Change in excess of 100 percent, or change from gain to loss or vice versa. 6 Includes leather industry. 7 Included in major industry above. 8 Mining, wholesale and retail trade data are the quarterly results of companies in those divisions with assets over $50 million. Data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. XXII U.S. Census Bureau Income before income taxes1 Rate of change 2Q 19982 1Q 19992 (million dollars) 76,541 39,361 9,180 714 926 2,296 4,565 14,610 3,963 5,560 5,087 4,589 2,480 37,180 2,310 2,210 1,060 1,149 4,189 6,065 6,297 10,611 6,878 2,931 2,298 3,200 1,333 1,281 587 547 11,984 6,006 81,849 34,455 9,346 305 306 1,580 4,279 14,752 2,666 6,967 5,118 2,242 1,646 47,394 1,142 1,137 28 1,108 3,139 9,266 11,204 16,213 9,851 5,548 2,533 2,760 1,103 1,079 577 −188 10,811 5,522 92,774 38,037 8,954 363 482 2,811 6,191 12,146 3,593 3,806 4,747 5,128 1,963 54,737 2,434 1,767 564 1,202 3,904 12,643 11,383 15,272 10,120 3,967 3,583 3,751 1,706 1,275 770 354 NA 6,359 2Q 1999 2Q 1998 to 2Q 1999 1Q 1999 to 2Q 1999 2Q 19982 Income after income taxes1 Rate of change 1Q 19992 (million dollars) +13 +10 −4 3 3 2Q 1999 2Q 1998 to 2Q 1999 1Q 1999 to 2Q 1999 (percent) +21 −3 3 (percent) 67,004 27,385 5,752 182 311 2,003 4,269 9,406 2,586 3,411 3,410 3,980 1,482 39,619 1,851 1,291 359 932 3,167 8,847 7,945 11,114 7,149 3,093 2,629 2,775 1,381 864 530 308 NA 4,069 +22 −5 −8 −66 −57 +26 +41 −21 −4 −36 −11 +28 −21 +54 3 54,723 28,950 6,226 530 732 1,590 3,022 11,860 2,704 5,333 3,823 3,107 1,883 25,774 1,776 1,497 692 805 3,294 3,593 3,865 8,107 5,458 2,106 1,317 2,325 1,011 911 403 471 7,912 3,840 60,059 26,513 6,686 205 222 1,073 3,098 12,001 1,870 6,277 3,854 1,980 1,247 33,546 825 666 −48 715 2,418 6,567 7,933 11,279 6,790 3,761 1,761 2,097 944 753 401 −137 6,614 3,394 +12 +3 −14 3 3 −49 −48 +22 +36 −17 −9 −32 −7 +12 −21 +47 3 +78 +45 −18 +35 −45 −7 5 3 +87 +38 −22 +38 −46 −12 5 3 +15 5 +18 5 −20 −47 3 3 5 +55 5 3 −14 −48 3 3 5 5 +94 5 +24 +36 3 +30 +31 +35 3 +81 +44 +47 +35 +56 +17 +28 3 3 −6 +3 −28 +41 +36 +55 +18 3 5 +37 +31 +47 5 +19 +37 3 3 −1 +5 −18 +49 +32 +46 3 3 5 −35 NA 3 NA +15 −35 NA 3 NA +20 XXIII U.S. Census Bureau TABLE B PROFITS PER DOLLAR OF SALES, BY DIVISION AND MAJOR GROUP (Cents) Income before income taxes1 Industry 2Q 1998 7.7 8.7 7.6 4.4 5.3 5.5 9.8 13.4 10.5 16.1 13.7 7.0 7.7 6.8 11.5 5.4 5.1 5.7 9.0 5.3 5.6 7.6 7.4 7.6 7.7 7.2 7.5 7.6 5.9 3.2 4.4 2.2 3Q 1998 8.4 9.6 10.4 5.5 7.0 5.1 11.7 12.2 4.3 18.9 13.8 9.3 4.6 7.3 13.6 5.8 3.8 7.7 7.5 7.7 9.7 4.7 2.9 8.0 7.6 5.8 3.8 6.9 8.0 (1.6) 3.3 2.2 4Q 1998 5.8 3.8 4.8 3.1 0.8 1.7 10.5 8.3 4.3 15.4 4.5 (9.9) 4.3 7.4 (0.4) 2.8 1.7 3.8 4.3 9.7 11.3 6.3 6.7 6.2 8.4 4.8 3.5 6.4 4.1 (33.2) 5.1 1.5 1Q 1999 8.4 8.0 7.8 2.0 1.8 4.0 9.3 13.2 7.4 18.1 13.7 4.1 5.8 8.8 6.5 3.3 0.2 6.1 6.9 8.9 9.6 10.7 9.5 14.6 9.1 6.5 6.4 6.5 6.4 (1.2) 3.8 2.0 2 Income after income taxes2 2Q 1999 8.9 8.3 7.4 2.3 2.9 6.6 13.1 10.3 9.3 9.6 12.1 7.4 6.5 9.5 12.3 4.9 3.2 6.5 8.3 11.3 9.5 9.3 8.8 10.1 12.1 8.0 8.8 7.2 7.8 2.2 NA 2.2 2Q 1998 5.5 6.4 5.1 3.2 4.2 3.8 6.5 10.8 7.2 15.5 10.3 4.7 5.9 4.7 8.8 3.7 3.3 4.0 7.0 3.2 3.4 5.8 5.9 5.5 4.4 5.2 5.7 5.4 4.1 2.7 2.9 1.4 3Q 1998 6.2 7.4 7.7 4.2 5.2 3.4 8.8 9.7 3.6 16.2 9.8 7.8 3.4 5.2 9.6 3.8 2.3 5.2 5.7 5.4 7.1 3.5 2.3 5.7 4.5 4.3 3.3 4.6 5.9 (0.2) 1.9 1.5 4Q 1998 4.4 3.3 3.6 2.0 0.0 1.0 7.5 7.7 2.6 16.7 3.2 (6.0) 3.3 5.2 (0.5) 1.8 0.2 3.2 3.2 6.2 8.4 4.4 4.8 4.3 5.4 3.6 2.4 4.6 4.0 (26.7) 3.1 1.0 1Q 1999 6.2 6.1 5.6 1.4 1.3 2.7 6.7 10.7 5.2 16.3 10.3 3.6 4.4 6.2 4.7 1.9 (0.3) 3.9 5.3 6.3 6.8 7.5 6.6 9.9 6.3 4.9 5.5 4.5 4.5 (0.9) 2.3 1.3 2Q 1999 6.5 5.9 4.8 1.2 1.9 4.7 9.0 8.0 6.7 8.6 8.7 5.7 4.9 6.9 9.4 3.5 2.0 5.0 6.8 7.9 6.6 6.7 6.2 7.8 8.9 5.9 7.1 4.9 5.4 1.9 NA 1.4 All manufacturing corporations . . . . . . . . . . . . . . . . . Nondurable manufacturing corporations. . . . . . . Food and kindred products3 . . . . . . . . . . . . . . . Textile mill products . . . . . . . . . . . . . . . . . . . . . . Apparel4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paper and allied products . . . . . . . . . . . . . . . . . Printing and publishing . . . . . . . . . . . . . . . . . . . Chemicals and allied products . . . . . . . . . . . . . Industrial chemicals and synthetics5 . . . . Drugs5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Residual of chemicals5 . . . . . . . . . . . . . . . . Petroleum and coal products . . . . . . . . . . . . . . Rubber and miscellaneous plastics products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Durable manufacturing corporations . . . . . . . . . . Stone, clay, and glass products. . . . . . . . . . . . Primary metal industries . . . . . . . . . . . . . . . . . . Iron and steel5 . . . . . . . . . . . . . . . . . . . . . . . onferrous metals5 . . . . . . . . . . . . . . . . . . . . . Fabricated metal products . . . . . . . . . . . . . . . . Machinery, except electrical . . . . . . . . . . . . . . . Electrical and electronic equipment . . . . . . . . Transportation equipment . . . . . . . . . . . . . . . . . Motor vehicles and equipment5 . . . . . . . . . Aircraft, guided missiles, and parts5 . . . . . Instruments and related products . . . . . . . . . . Other durable manufacturing corporations . . Lumber and wood products5 . . . . . . . . . . . Furniture and fixtures5 . . . . . . . . . . . . . . . . Miscellaneous manufacturing5 . . . . . . . . . . All mining corporations6 . . . . . . . . . . . . . . . . . . . . . . . All retail trade corporations6 . . . . . . . . . . . . . . . . . . . All wholesale trade corporations6 . . . . . . . . . . . . . . . 1 Based on profit figures which include net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes. 2 Some of the rates in this column have been revised since their first appearance. See footnotes to Tables 1.0 — 52.1. 3 Includes tobacco industry. 4 Includes leather industry. 5 Included in major industry above. 6 Mining, wholesale and retail trade data are the quarterly results of companies in those divisions with assets over $50 million. Data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. XXIV U.S. Census Bureau TABLE C PROFITS PER DOLLAR OF SALES, MANUFACTURING CORPORATIONS, BY ASSET SIZE (Cents) Income before income taxes1 Asset size 2Q 1998 7.7 6.7 7.3 5.7 6.9 4.8 4.8 6.2 8.7 6.8 7.3 8.9 5.6 7.1 4.4 5.1 5.9 7.2 8.7 5.6 5.0 5.8 6.8 5.2 4.5 6.6 10.3 3Q 1998 8.4 6.6 6.0 5.5 4.9 4.5 3.8 5.0 10.2 7.3 7.2 7.2 4.5 5.9 3.8 3.5 4.6 8.8 9.6 5.8 4.5 6.8 3.3 5.3 4.2 5.6 11.9 4Q 1998 5.8 0.8 3.2 3.5 2.8 5.1 3.7 4.3 7.2 7.4 0.3 4.3 3.1 3.4 5.7 3.5 3.3 10.0 3.8 1.8 1.5 4.1 2.1 4.1 4.0 5.6 3.7 1Q 1999 8.4 5.6 6.8 6.0 3.4 5.3 2.7 4.6 10.4 8.8 6.6 6.2 5.4 3.6 5.1 3.6 4.0 11.1 8.0 4.0 7.6 6.7 3.2 5.6 1.5 5.2 9.6 2 Income after income taxes2 2Q 1999 8.9 7.0 5.7 6.7 6.7 4.8 5.3 6.1 10.5 9.5 8.1 6.8 7.2 7.1 4.8 6.4 5.1 11.3 8.3 5.2 3.9 6.0 6.1 4.8 3.9 7.4 9.5 2Q 1998 5.5 6.0 6.2 4.5 5.4 3.2 2.9 3.8 6.1 4.7 6.4 7.7 4.4 5.5 2.6 2.9 3.5 4.8 6.4 5.1 4.0 4.7 5.3 4.1 2.9 4.1 7.6 3Q 1998 6.2 5.9 5.0 4.4 3.6 3.2 2.2 2.9 7.7 5.2 6.4 6.0 3.5 4.3 2.5 1.8 2.5 6.2 7.4 5.1 3.8 5.6 2.3 4.0 2.7 3.5 9.2 4Q 1998 4.4 0.5 2.4 2.6 1.7 3.7 2.5 2.4 5.6 5.2 (0.2) 3.3 2.1 2.0 4.3 2.5 1.4 7.2 3.3 1.5 0.9 3.3 1.3 3.0 2.6 3.6 3.7 1Q 1999 6.2 5.1 5.9 4.9 2.1 4.0 1.4 2.8 7.6 6.2 6.0 5.2 4.4 2.0 3.6 2.0 2.4 7.8 6.1 3.6 7.1 5.6 2.3 4.4 0.6 3.2 7.5 2Q 1999 6.5 6.3 4.8 5.6 5.1 3.5 3.5 3.6 7.5 6.9 7.3 5.8 6.1 5.3 3.4 4.6 3.0 8.0 5.9 4.6 3.2 4.9 5.0 3.8 2.1 4.6 6.8 All manufacturing corporations . . . . . . . . . . . . . . . . . Under $5 million3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . 1,000 million and over . . . . . . . . . . . . . . . . . . . . . . Durable goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Under $5 million . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . Nondurable goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . Under $5 million . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . 3 3 1 Based on profit figures which include net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes. 2 Some of the rates in this column have been revised since their first appearance. See footnotes to Tables 1.0 — 52.1. 3 Excludes manufacturing corporations with less than $250,000 in assets at the time of sample selection. (See text, page XI.) XXV U.S. Census Bureau TABLE D ANNUAL RATES OF PROFIT ON STOCKHOLDERS’ EQUITY, BY DIVISION AND MAJOR GROUP (Percent) Income before income taxes1 Industry 2Q 1998 20.8 22.7 27.3 14.9 26.0 14.8 29.2 27.5 24.2 28.5 29.5 11.9 28.2 19.2 34.3 16.5 16.8 16.2 30.2 14.8 11.0 32.0 34.5 27.3 14.0 26.8 30.2 31.1 17.1 3.2 24.3 14.7 3Q 1998 22.3 24.7 37.0 18.7 36.3 13.7 34.6 25.0 9.8 35.2 28.1 15.1 17.3 20.1 39.7 16.0 11.5 19.8 24.6 20.9 19.6 18.4 12.3 27.5 13.2 21.5 15.6 26.6 22.9 (1.5) 18.8 14.9 4Q 1998 15.8 9.8 18.0 9.5 4.0 4.3 30.8 17.2 9.8 30.0 9.2 (16.0) 14.5 21.1 (1.2) 7.6 4.8 9.9 13.9 26.2 22.8 28.7 33.3 24.9 14.6 18.5 14.6 26.5 13.2 (35.5) 31.2 10.2 1Q 1999 21.9 19.9 28.3 6.6 8.8 10.2 24.7 27.1 16.3 34.2 28.9 6.2 19.2 23.6 16.4 8.5 0.5 14.8 21.9 22.5 18.1 45.9 45.9 50.3 15.1 24.2 27.3 25.3 18.7 (1.1) 20.4 12.9 2 Income after income taxes2 2Q 1999 24.2 21.9 27.1 8.2 12.5 18.3 34.9 22.5 21.6 19.0 27.4 13.9 23.1 26.2 33.7 13.3 9.7 16.2 26.8 29.4 18.0 38.8 41.1 34.0 21.0 33.4 41.6 30.6 25.9 2.1 NA 14.6 2Q 1998 14.9 16.7 18.5 11.0 20.6 10.2 19.3 22.3 16.5 27.3 22.2 8.0 21.4 13.3 26.3 11.2 11.0 11.3 23.7 8.8 6.8 24.5 27.3 19.6 8.0 19.4 22.9 22.1 11.8 2.7 16.1 9.4 3Q 1998 16.5 19.1 27.6 14.3 27.2 9.1 26.0 20.0 8.1 30.1 20.1 12.7 12.6 14.3 28.0 10.5 7.0 13.4 18.6 14.6 14.3 13.5 9.6 19.5 7.8 15.9 13.5 17.7 16.8 (0.2) 10.8 10.2 4Q 1998 11.9 8.6 13.5 6.3 0.2 2.6 21.8 16.0 6.0 32.4 6.5 (9.7) 11.3 14.7 (1.5) 4.8 0.6 8.1 10.2 16.9 17.0 20.1 24.2 17.2 9.4 14.1 10.1 18.9 13.0 (28.5) 19.1 6.8 1Q 1999 16.0 15.3 20.2 4.4 6.4 6.9 17.9 22.1 11.5 30.8 21.7 5.4 14.6 16.7 11.9 5.0 (0.8) 9.5 16.9 16.0 12.8 32.0 31.6 34.1 10.5 18.4 23.3 17.6 13.0 (0.8) 12.5 8.0 2Q 1999 17.5 15.7 17.4 4.1 8.0 13.0 24.1 17.4 15.6 17.0 19.7 10.8 17.4 19.0 25.6 9.7 6.1 12.6 21.8 20.6 12.6 28.3 29.0 26.5 15.4 24.7 33.7 20.7 17.8 1.8 NA 9.3 All manufacturing corporations . . . . . . . . . . . . . . . . . Nondurable manufacturing corporations . . . . Food and kindred products3 . . . . . . . . . . . . . . . Textile mill products . . . . . . . . . . . . . . . . . . . . . . Apparel4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paper and allied products . . . . . . . . . . . . . . . . . Printing and publishing . . . . . . . . . . . . . . . . . . . Chemicals and allied products . . . . . . . . . . . . . Industrial chemicals and synthetics5 . . . . Drugs5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Residual of chemicals5 . . . . . . . . . . . . . . . . Petroleum and coal products . . . . . . . . . . . . . . Rubber and miscellaneous plastics products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Durable manufacturing corporations . . . . . . . . Stone, clay, and glass products. . . . . . . . . . . . Primary metal industries . . . . . . . . . . . . . . . . . . Iron and steel5 . . . . . . . . . . . . . . . . . . . . . . . Nonferrous metals5 . . . . . . . . . . . . . . . . . . . Fabricated metal products . . . . . . . . . . . . . . . . Machinery, except electrical . . . . . . . . . . . . . . . Electrical and electronic equipment . . . . . . . . Transportation equipment . . . . . . . . . . . . . . . . . Motor vehicles and equipment5 . . . . . . . . . Aircraft, guided missiles, and parts5 . . . . . Instruments and related products . . . . . . . . . . Other durable manufacturing corporations . . Lumber and wood products5 . . . . . . . . . . . . Furniture and fixtures5 . . . . . . . . . . . . . . . . . . Miscellaneous manufacturing5 . . . . . . . . . . . All mining corporations6 . . . . . . . . . . . . . . . . . . . . . . . All retail trade corporations6 . . . . . . . . . . . . . . . . . . . All wholesale trade corporations6 . . . . . . . . . . . . . . . 1 Based on profit figures which include net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes. 2 Some of the rates in this column have been revised since their first appearance. See footnotes to Tables 1.0 — 52.1. 3 Includes tobacco industry. 4 Includes leather industry. 5 Included in major industry above. 6 Mining, wholesale and retail trade data are the quarterly results of companies in those divisions with assets over $50 million. Data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. XXVI U.S. Census Bureau TABLE E ANNUAL RATES OF PROFIT ON STOCKHOLDERS’ EQUITY, MANUFACTURING CORPORATIONS, BY ASSET SIZE (Percent) Income before income taxes1 Asset size 2Q 1998 20.8 35.2 32.0 23.4 26.6 15.0 17.1 18.6 20.4 19.2 36.4 36.8 22.0 25.6 12.3 16.6 17.3 18.0 22.7 32.6 24.1 25.6 28.4 19.8 17.9 20.4 22.7 3Q 1998 22.3 33.6 26.5 22.5 17.4 14.4 13.8 14.9 23.5 20.1 34.5 28.2 17.1 20.3 10.4 11.3 13.1 21.2 24.7 31.9 23.6 31.6 12.5 20.9 18.1 17.4 25.8 4Q 1998 15.8 4.6 14.5 14.4 10.4 15.6 12.0 13.0 17.2 21.1 1.5 18.8 11.8 12.2 16.9 10.3 9.6 25.8 9.8 10.5 7.3 18.2 7.9 13.5 15.0 17.5 8.3 1Q 1999 21.9 29.0 29.0 23.7 13.5 15.9 8.9 13.0 23.6 23.6 32.0 25.3 20.4 14.4 13.4 10.3 11.3 26.6 19.9 23.1 35.9 28.4 12.4 20.1 6.2 15.3 20.5 2 Income after income taxes2 2Q 1999 24.2 37.6 25.9 27.6 25.5 14.9 17.7 17.6 25.0 26.2 41.1 29.7 28.9 28.0 12.8 18.8 14.6 27.9 21.9 30.5 19.0 25.7 22.5 18.9 15.7 21.7 21.9 2Q 1998 14.9 31.4 27.1 18.6 20.6 10.2 10.3 11.4 14.4 13.3 32.2 32.1 17.0 19.8 7.2 9.6 10.3 12.1 16.7 29.8 18.9 21.0 22.1 15.6 11.6 12.8 16.7 3Q 1998 16.5 29.9 22.2 18.0 12.6 10.2 7.9 8.7 17.6 14.3 30.6 23.6 13.3 14.9 6.9 5.9 7.1 15.1 19.1 28.4 19.9 26.0 8.7 15.6 11.4 10.9 20.1 4Q 1998 11.9 2.5 10.7 10.6 6.1 11.5 8.2 7.1 13.4 14.7 (0.8) 14.5 7.8 7.1 12.6 7.2 4.1 18.6 8.6 8.9 4.3 14.8 4.7 9.7 9.9 11.1 8.1 1Q 1999 16.0 26.2 25.4 19.5 8.4 11.8 4.6 7.9 17.3 16.7 28.8 21.1 16.5 8.1 9.5 5.9 6.8 18.6 15.3 20.9 33.2 23.8 8.9 15.9 2.3 9.3 15.9 2Q 1999 17.5 33.9 22.1 22.9 19.6 11.0 11.7 10.6 17.9 19.0 37.2 25.5 24.3 20.8 8.9 13.6 8.5 19.9 15.7 27.1 16.0 21.0 18.1 14.9 8.3 13.4 15.8 All manufacturing corporations . . . . . . . . . . . . . . . . . Under $5 million3 . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . Durable goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Under $5 million . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . Nondurable goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . Under $5 million . . . . . . . . . . . . . . . . . . . . . . . . . . $5 million to $10 million . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . 3 3 1 Based on profit figures which include net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes. 2 Some of the rates in this column have been revised since their first appearance. See footnotes to Tables 1.0 — 52.1. 3 Excludes manufacturing corporations with less than $250,000 in assets at the time of sample selection. (See text, page XI.) XXVII U.S. Census Bureau TABLE F RATES OF RETURN, ALL MANUFACTURING CORPORATIONS* Annual rate of profit on stockholders’ equity (percent) Before taxes 1978 Q1 2 3 4 1979 Q1 2 3 4 1980 Q1 2 3 4 1981 Q1 2 3 4 1982 Q1 2 3 4 1983 Q1 2 3 4 1984 Q1 2 3 4 1985 Q1 2 3 4 1986 Q1 2 3 4 1987 Q1 2 3 4 1988 Q1 2 3 4 ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... 20.7 27.0 24.4 25.8 25.4 28.8 25.1 23.7 24.5 21.8 19.8 21.3 21.7 24.7 21.2 17.8 15.3 16.2 14.4 10.5 12.3 17.2 17.6 18.2 20.0 22.6 17.8 16.4 16.5 17.3 15.4 14.1 14.4 17.7 13.9 13.2 17.2 21.3 21.6 16.7 21.8 24.5 22.3 21.3 After taxes 12.4 16.6 14.9 16.1 15.7 18.1 16.3 15.7 15.4 13.6 12.5 14.0 13.6 15.6 13.4 12.0 10.1 10.5 9.2 7.2 7.9 10.9 11.3 11.9 12.5 14.5 11.9 11.0 10.5 10.9 9.9 9.3 9.0 12.2 8.4 8.5 11.2 14.2 14.6 11.4 15.8 17.4 15.9 15.2 Profit per dollar of sales (cents) Before taxes 7.9 9.5 8.9 9.1 9.0 9.7 8.7 8.0 8.5 7.7 7.2 7.2 7.5 8.3 7.4 6.4 5.8 5.9 5.5 4.1 4.9 6.6 6.8 6.8 7.5 8.1 6.7 6.1 6.3 6.3 5.8 5.2 5.7 6.8 5.6 5.1 6.8 8.0 8.2 6.1 8.3 8.9 8.3 7.7 After taxes 4.7 1989 Q1. . . . . . . . . 5.9 2. . . . . . . . . 5.4 3. . . . . . . . . 5.6 4. . . . . . . . . 5.6 1990 Q1. . . . . . . . . 6.1 2. . . . . . . . . 5.7 3. . . . . . . . . 5.3 4. . . . . . . . . 5.3 1991 Q1. . . . . . . . . 4.8 2. . . . . . . . . 4.5 3. . . . . . . . . 4.7 4. . . . . . . . . 4.7 1992 Q1. . . . . . . . . 5.3 2. . . . . . . . . 4.7 3. . . . . . . . . 4.3 4. . . . . . . . . 3.8 1993 Q1. . . . . . . . . 3.8 2. . . . . . . . . 3.5 3. . . . . . . . . 2.8 4. . . . . . . . . 3.2 1994 Q1. . . . . . . . . 4.2 2. . . . . . . . . 4.3 3. . . . . . . . . 4.5 4. . . . . . . . . 4.7 1995 Q1. . . . . . . . . 5.2 2. . . . . . . . . 4.4 3. . . . . . . . . 4.1 4. . . . . . . . . 4.0 1996 Q1. . . . . . . . . 4.0 2. . . . . . . . . 3.7 3. . . . . . . . . 3.4 4. . . . . . . . . 3.6 1997 Q1. . . . . . . . . 4.7 2. . . . . . . . . 3.4 3. . . . . . . . . 3.3 4. . . . . . . . . 4.4 1998 Q1. . . . . . . . . 5.3 2. . . . . . . . . 5.6 3. . . . . . . . . 4.2 4. . . . . . . . . 6.0 1999 Q1. . . . . . . . . 6.3 2. . . . . . . . . 5.9 5.5 Annual rate of profit on stockholders’ equity1 (percent) Before taxes 21.5 21.4 18.5 13.9 15.5 19.1 15.8 10.3 10.2 12.3 10.3 4.4 (25.7) 16.1 14.0 6.9 4.4 14.4 14.3 12.1 18.6 23.6 23.3 22.2 24.4 25.6 22.4 16.4 21.5 24.8 24.8 20.0 23.1 25.3 23.4 18.8 25.9 20.8 22.3 15.8 21.9 24.2 After taxes 15.2 14.6 13.2 11.1 10.8 13.4 11.1 7.0 6.9 8.6 6.5 3.1 (17.5) 11.4 10.4 3.7 4.3 9.7 9.5 8.5 13.1 17.0 16.6 16.2 17.4 18.5 16.0 12.2 15.6 17.7 18.3 15.1 17.0 18.3 16.8 14.7 20.0 14.9 16.6 11.9 16.0 17.5 Profit per dollar of sales1 (cents) Before taxes 8.0 7.5 6.8 5.1 5.9 7.0 5.9 3.7 4.1 4.7 3.9 1.7 (9.6) 5.7 5.1 2.4 1.6 4.9 5.0 4.1 6.6 7.9 8.0 7.5 8.6 8.9 8.0 5.7 7.9 8.7 8.9 7.2 8.8 9.3 8.8 6.9 10.1 7.7 8.4 5.8 8.4 8.9 After taxes 5.7 5.1 4.9 4.1 4.1 4.9 4.1 2.5 2.8 3.3 2.5 1.2 (6.5) 4.0 3.8 1.3 1.5 3.3 3.3 2.9 4.6 5.7 5.6 5.5 6.2 6.4 5.7 4.3 5.7 6.2 6.6 5.4 6.5 6.8 6.3 5.4 7.8 5.6 6.2 4.4 6.2 6.5 Year and quarter Year and quarter *Rates of return prior to fourth quarter 1987 do not include minority stockholders’ interest in the calculation. 1 Some of the rates in this column have been revised since their first appearance. See footnotes in Tables 1.0—52.1. XXVIII U.S. Census Bureau TABLE G RATES OF RETURN, ALL MINING CORPORATIONS, ASSETS $50 MILLION AND OVER* Year and quarter Annual rate of profit on stockholders’ equity1 (percent) Before taxes 1987 Q4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 Q1 2 3 4 1989 Q1 2 3 4 1990 Q1 2 3 4 1991 Q1 2 3 4 1992 Q1 2 3 4 1993 Q1 2 3 4 1994 Q1 2 3 4 1995 Q1 2 3 4 1996 Q1 2 3 4 1997 Q1 2 3 4 1998 Q1 2 3 4 ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... 0.7 7.1 9.5 1.2 2.0 10.6 9.9 9.3 7.8 13.5 6.4 14.1 12.3 8.4 6.4 4.4 (3.4) (10.9) 2.0 3.7 2.8 2.8 11.7 5.0 0.6 (3.9) 9.2 7.4 1.3 2.8 8.4 (6.1) 4.9 9.3 16.2 16.7 14.2 18.7 13.2 14.1 (0.2) 6.0 3.2 (1.5) (35.5) (1.1) 2.1 After taxes (1.6) 4.5 6.5 (2.0) 0.2 7.4 6.5 5.9 4.0 8.8 4.7 9.1 10.3 6.0 4.8 3.4 (3.7) (8.2) 1.7 2.0 1.5 2.8 8.6 4.0 1.0 (5.7) 7.2 5.7 1.1 2.4 6.3 (4.2) 3.7 7.0 11.9 15.7 10.8 13.5 9.1 10.4 0.5 3.6 2.7 (0.2) (28.5) (0.8) 1.8 Profit per dollar of sales1 (cents) Before taxes 0.5 5.2 6.7 0.9 1.3 8.1 7.4 6.6 5.5 10.3 4.9 10.4 7.3 6.4 5.0 3.4 (2.6) (9.8) 1.8 3.2 2.3 2.4 10.5 4.4 0.5 (3.4) 7.9 6.3 1.1 2.7 7.7 (5.7) 4.4 8.5 14.6 15.4 12.7 18.0 13.5 14.5 (0.2) 6.2 3.2 (1.6) (33.2) (1.2) 2.2 After taxes (1.1) 3.4 4.6 (1.4) 0.2 5.6 4.8 4.2 2.9 6.7 3.6 6.7 6.1 4.6 3.8 2.6 (2.8) (7.4) 1.5 1.7 1.2 2.4 7.7 3.5 0.9 (5.0) 6.1 4.8 0.9 2.3 5.8 (3.9) 3.3 6.4 10.7 14.5 9.7 13.0 9.3 10.7 0.4 3.7 2.7 (0.2) (26.7) (0.9) 1.9 1999 Q1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 ....................................... *Rates of return prior to first quarter 1997 do not include minority stockholders’ interest in the calculation. 1 Some of the rates in this column have been revised since their first appearance. See footnotes in Tables 1.0—52.1. XXIX U.S. Census Bureau TABLE H RATES OF RETURN, ALL WHOLESALE TRADE CORPORATIONS, ASSETS $50 MILLION AND OVER* Year and quarter Annual rate of profit on stockholders’ equity1 (percent) Before taxes 1987 Q4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 Q1 2 3 4 1989 Q1 2 3 4 1990 Q1 2 3 4 1991 Q1 2 3 4 1992 Q1 2 3 4 1993 Q1 2 3 4 1994 Q1 2 3 4 1995 Q1 2 3 4 1996 Q1 2 3 4 1997 Q1 2 3 4 1998 Q1 2 3 4 ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... 13.1 14.9 14.6 17.2 17.4 14.6 14.8 14.6 11.1 10.5 10.2 9.8 8.3 6.0 8.2 9.4 7.8 6.0 9.7 9.8 10.0 4.8 15.4 8.3 12.6 12.1 14.1 1.2 11.3 13.0 14.0 14.2 14.8 16.5 15.8 15.8 15.3 15.5 17.6 19.1 13.9 12.9 14.7 14.9 10.2 12.9 14.6 After taxes 6.2 9.6 9.3 11.7 10.6 9.5 10.1 10.4 5.8 6.0 5.0 5.7 3.3 3.0 4.5 5.8 3.8 2.7 6.2 6.0 6.5 2.7 9.8 5.0 8.7 8.1 9.3 (3.3) 6.7 8.6 8.7 9.6 9.7 10.6 10.0 10.2 9.1 10.2 11.8 12.5 8.5 7.8 9.4 10.2 6.8 8.0 9.3 Profit per dollar of sales1 (cents) Before taxes 1.6 1.9 1.8 2.1 2.0 1.7 1.7 1.8 1.3 1.2 1.3 1.2 1.0 0.8 1.1 1.2 1.0 0.8 1.2 1.2 1.2 0.6 2.0 1.1 1.6 1.6 1.9 0.2 1.4 1.7 1.8 1.9 1.9 2.1 2.0 2.1 2.0 2.1 2.5 2.8 2.0 2.0 2.2 2.2 1.5 2.0 2.2 After taxes 0.7 1.2 1.1 1.4 1.2 1.1 1.2 1.3 0.7 0.7 0.6 0.7 0.4 0.4 0.6 0.8 0.5 0.3 0.8 0.8 0.8 0.4 1.3 0.7 1.1 1.1 1.2 (0.4) 0.8 1.1 1.1 1.3 1.2 1.4 1.3 1.3 1.2 1.4 1.7 1.8 1.2 1.2 1.4 1.5 1.0 1.3 1.4 1999 Q1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 ....................................... *Rates of return prior to first quarter 1997 do not include minority stockholders’ interest in the calculation. 1 Some of the rates in this column have been revised since their first appearance. See footnotes in Tables 1.0—52.1. XXX U.S. Census Bureau TABLE I RATES OF RETURN, ALL RETAIL TRADE CORPORATIONS, ASSETS $50 MILLION AND OVER* Year and quarter Annual rate of profit on stockholders’ equity1 (percent) Before taxes 1987 Q4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 Q1 2 3 4 1989 Q1 2 3 4 1990 Q1 2 3 4 1991 Q1 2 3 4 1992 Q1 2 3 4 1993 Q1 2 3 4 1994 Q1 2 3 4 1995 Q1 2 3 4 1996 Q1 2 3 4 1997 Q1 2 3 4 1998 Q1 2 3 4 ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... ....................................... 32.1 13.1 15.3 14.9 31.4 18.1 15.2 17.7 20.1 5.4 12.3 13.3 29.2 7.5 14.4 11.9 22.3 (1.7) 16.0 11.4 19.6 9.8 19.5 14.6 22.1 14.9 19.8 19.1 33.5 13.6 16.5 15.7 21.0 12.9 16.7 19.0 25.7 14.6 14.9 17.9 29.4 19.0 24.3 18.8 31.2 20.4 After taxes 20.7 8.4 10.0 9.2 22.5 11.0 9.5 11.6 7.0 0.7 6.9 7.4 18.8 3.3 8.2 5.9 11.3 (2.8) 9.1 5.8 10.4 5.3 12.7 8.7 11.5 8.5 12.7 11.5 20.6 8.7 10.1 9.7 11.5 7.7 10.0 12.0 15.6 8.6 8.8 11.1 18.6 11.5 16.1 10.9 19.1 12.5 Profit per dollar of sales1 (cents) Before taxes 5.1 2.4 2.6 2.5 4.4 2.9 2.3 2.6 2.5 0.8 1.6 1.7 3.5 1.1 2.0 1.7 2.8 (0.3) 2.4 1.7 2.6 1.6 3.0 2.3 3.1 2.4 3.2 3.1 5.0 2.4 2.7 2.6 3.1 2.2 2.8 3.2 3.9 2.6 2.6 3.1 4.7 3.5 4.4 3.3 5.1 3.8 After taxes 3.3 1.5 1.7 1.5 3.2 1.8 1.4 1.7 0.9 0.1 0.9 1.0 2.2 0.5 1.1 0.8 1.4 (0.4) 1.4 0.9 1.4 0.8 1.9 1.4 1.6 1.4 2.0 1.8 3.1 1.5 1.7 1.6 1.7 1.3 1.7 2.0 2.4 1.5 1.5 2.0 3.0 2.1 2.9 1.9 3.1 2.3 1999 Q1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . *Rates of return prior to first quarter 1997 do not include minority stockholders’ interest in the calculation. 1 Some of the rates in this column have been revised since their first appearance. See footnotes in Tables 1.0—52.1. XXXI U.S. Census Bureau TABLE J COMPOSITION OF THE SAMPLE, BY DIVISION AND ASSET SIZE Manufacturing1 Asset size Total assets2 Million dollars All asset sizes. . . . . . . . . . . . . . . . . . . . . . . . Under $10 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10 million and over . . . . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . 4 Mining1 Number of active corps. in sample3 6,561 3,040 3,521 869 441 433 487 722 569 Total assets Million dollars 173,536 39 173,497 616 831 2,599 7,429 35,982 126,040 2 Percent 100 4 96 2 2 2 3 10 76 Retail trade1 8 Percent 100 0 100 0 0 1 4 21 73 Wholesale trade1 Number of active corps. in sample5 179 4 175 13 10 17 30 60 45 4,104,094 177,128 3,926,967 85,994 68,684 95,448 138,514 401,317 3,137,009 Total assets2 Million dollars All asset sizes. . . . . . . . . . . . . . . . . . . . . . . . Under $10 million . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10 million and over . . . . . . . . . . . . . . . . . . . . . . . . $10 million to $25 million. . . . . . . . . . . . . . . . . . . . $25 million to $50 million. . . . . . . . . . . . . . . . . . . . $50 million to $100 million. . . . . . . . . . . . . . . . . . . $100 million to $250 million . . . . . . . . . . . . . . . . . $250 million to $1,000 million . . . . . . . . . . . . . . . . $1,000 million and over . . . . . . . . . . . . . . . . . . . . . 587,320 132 587,188 711 3,399 13,404 26,593 76,004 467,077 Percent 100 0 100 0 1 2 5 13 80 Number of active corps. in sample6 501 14 487 17 37 86 99 151 97 Total assets2 Million dollars 536,574 258 536,316 1,697 8,229 26,185 48,677 120,570 330,958 Percent 100 0 100 0 2 5 9 22 62 Number of active corps. in sample7 886 21 865 41 94 192 223 219 96 1 Mining, wholesale and retail trade data are the quarterly results of companies in those divisions with assets over $50 million. Data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. 2 Estimated universe total; figures are rounded and will not necessarily add to totals. 3 Drawn from a universe of approximately 175,600. 4 Excludes manufacturing corporations with less than $250,000 in assets at the time of sample selection. (See text, page XI.) 5 Drawn from a universe of approximately 450. 6 Drawn from a universe of approximately 1,000. 7 Drawn from a universe of approximately 1,500. 8 Composition of sample, first quarter 1999, revised. XXXII U.S. Census Bureau TABLE K SAMPLING VARIABILITY, BY DIVISION AND MAJOR GROUP Coefficient of variation in percent1 Industry Net sales All manufacturing corporations. . . . . . . . . . . . . . . . . . . . . . . Nondurable manufacturing corporations . . . . . . . . . . . . Food and kindred products3 . . . . . . . . . . . . . . . . . . . Textile mill products. . . . . . . . . . . . . . . . . . . . . . . . . . . Apparel4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paper and allied products . . . . . . . . . . . . . . . . . . . . . Printing and publishing . . . . . . . . . . . . . . . . . . . . . . . . Chemicals and allied products . . . . . . . . . . . . . . . . . Industrial chemicals and synthetics5 . . . . . . . . . . Drugs5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Residual of chemicals5. . . . . . . . . . . . . . . . . . . . . . Petroleum and coal products . . . . . . . . . . . . . . . . . . Rubber and miscellaneous plastics products . . . . . Durable manufacturing corporations. . . . . . . . . . . . . . . . Stone, clay, and glass products . . . . . . . . . . . . . . . . Primary metal industries. . . . . . . . . . . . . . . . . . . . . . . Iron and Steel5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nonferrous metals5 . . . . . . . . . . . . . . . . . . . . . . . . . Fabricated metal products . . . . . . . . . . . . . . . . . . . . . Machinery, except electrical. . . . . . . . . . . . . . . . . . . . Electrical and electronic equipment . . . . . . . . . . . . . Transportation equipment . . . . . . . . . . . . . . . . . . . . . Motor vehicles and equipment5 . . . . . . . . . . . . . . Aircraft, guided missiles, and parts5 . . . . . . . . . . Instruments and related products . . . . . . . . . . . . . . . Other durable manufacturing corporations . . . . . . . Lumber and wood products5 . . . . . . . . . . . . . . . . . Furniture and fixtures5 . . . . . . . . . . . . . . . . . . . . . . Miscellaneous manufacturing5 . . . . . . . . . . . . . . . All mining corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All retail trade corporations . . . . . . . . . . . . . . . . . . . . . . . . . . All wholesale trade corporations . . . . . . . . . . . . . . . . . . . . . 1 2 Standard error in million dollars1 Total assets 0.2 0.2 0.5 2.6 2.9 0.8 0.8 0.4 0.4 0.7 0.7 0.3 1.9 0.3 1.3 1.1 1.5 1.7 1.6 0.7 0.6 0.2 0.3 0.3 1.3 1.7 3.5 1.9 3.3 0.9 NA 0.6 Income before income taxes2 575 351 179 77 124 60 140 165 73 123 82 41 134 455 73 82 42 71 173 168 225 91 53 41 149 236 173 76 142 51 NA 195 Depreciation 0.3 0.4 0.9 4.0 5.1 0.9 1.5 0.6 0.8 1.4 1.2 0.2 3.0 0.4 2.2 1.2 1.7 1.7 2.3 1.1 1.0 0.3 0.4 0.3 1.6 3.1 5.4 2.4 7.5 1.5 NA 0.7 Inventories 0.4 0.6 1.1 3.3 3.5 1.4 2.4 0.9 0.9 1.8 1.9 0.5 2.6 0.5 3.2 1.6 2.3 2.0 2.5 1.4 1.0 0.4 1.1 0.3 1.8 2.8 4.4 4.3 5.5 2.8 NA 1.1 0.3 0.4 0.8 2.6 3.3 1.4 1.4 0.7 1.3 1.1 1.3 0.4 2.7 0.4 2.2 1.6 1.9 2.5 2.0 0.8 0.8 0.4 0.4 0.5 1.6 2.3 3.5 3.2 6.0 1.1 NA 0.6 Second quarter 1999. The coefficient of variation (CV) for the item ‘‘Income before income taxes’’ is more volatile than for the other items shown on this table. This is due in part to the fact that ‘‘Income before income taxes’’ can be negative. Aggregation of positive and negative values may result in totals which approach zero and cause the CV’s to rapidly increase. Therefore, the standard error (in millions of dollars) is provided as a measure of precision for this item and should show consistency from quarter to quarter. 3 Includes tobacco industry. 4 Includes leather industry. 5 Included in major industry above. XXXIII U.S. Census Bureau TABLE L SEASONALLY ADJUSTED NET SALES AND NET INCOME AFTER TAX, MANUFACTURING CORPORATIONS (Millions of dollars) Industry group and year Q1 All manufacturing: 1980 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1983 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1984 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1987 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1992 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19941 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19951 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19961 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19971 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All nondurable manufacturing: 1980 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1983 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1984 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1987 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1992 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19941 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19951 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19961 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19971 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All durable manufacturing: 1980 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1983 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1984 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1985 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1987 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1992 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1993 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19941 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19951 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19961 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19971 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19981 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Net sales Q2 Q3 Q4 Q1 Net income after tax Q2 Q3 Q4 474,553 531,569 514,718 503,667 581,250 580,312 557,764 571,292 631,064 686,281 693,635 678,485 704,642 743,774 784,624 871,630 914,828 967,101 991,925 1,004,354 460,837 542,645 514,342 517,876 586,099 581,750 554,327 583,302 641,051 691,650 691,506 684,175 718,053 751,170 802,992 872,428 931,803 970,858 980,056 1,017,631 468,264 543,479 510,674 538,274 582,299 584,242 552,370 603,370 651,327 684,757 706,501 698,450 729,709 753,365 825,227 883,669 948,931 988,117 987,654 508,665 526,587 499,474 553,782 585,435 585,528 556,538 619,533 671,391 681,361 717,667 699,104 737,118 766,464 841,670 899,642 960,686 993,491 992,862 25,726 25,402 20,204 16,818 27,936 23,612 20,148 25,313 37,537 38,393 28,797 19,414 (42,702) 12,642 36,515 52,967 51,450 61,121 75,257 60,736 20,676 26,991 18,009 19,764 28,400 20,734 23,748 28,346 38,075 32,443 30,372 17,783 24,172 19,429 41,244 52,117 54,246 62,377 50,094 62,162 21,318 25,407 18,019 23,375 25,722 21,455 18,287 32,863 37,473 31,912 27,653 15,693 26,000 23,539 45,413 49,296 61,118 61,599 60,483 24,553 23,140 14,635 25,806 25,673 21,813 21,049 28,961 40,933 32,536 23,420 13,554 14,654 27,552 51,800 43,833 58,105 59,385 48,735 247,570 289,777 281,976 275,853 308,032 295,219 278,580 283,300 320,413 343,281 356,321 363,479 367,336 381,848 387,268 425,685 442,261 463,357 452,527 447,015 248,732 293,307 282,377 281,859 309,980 296,855 273,273 295,205 324,773 350,390 349,558 360,540 374,383 382,645 394,740 427,582 452,227 456,498 446,695 456,115 252,172 294,285 282,433 289,789 306,168 296,985 270,894 307,232 328,650 346,886 363,833 365,822 378,467 379,428 405,732 430,812 457,628 460,994 442,611 274,531 287,512 279,273 293,207 303,665 300,152 272,837 313,871 336,505 346,663 382,436 366,749 379,971 381,244 409,957 436,034 463,175 463,480 439,654 15,647 14,866 12,994 11,644 15,622 13,489 11,823 14,143 21,363 21,583 15,863 16,504 (4,176) 12,744 19,011 25,921 28,064 33,473 29,903 26,651 13,786 15,710 11,479 13,384 15,915 11,689 14,464 16,286 21,633 19,212 18,662 14,705 17,985 15,321 19,890 28,317 28,547 31,141 29,386 27,617 13,508 14,596 12,217 14,772 13,905 12,254 11,004 18,092 21,449 18,086 18,513 14,799 17,115 11,761 22,546 27,717 32,315 30,728 30,900 13,759 14,125 12,543 15,907 13,362 11,591 13,302 13,904 22,494 20,820 16,438 13,183 14,999 15,757 26,318 21,902 29,851 27,748 16,521 226,983 241,792 232,742 227,814 273,218 285,093 279,184 287,992 310,651 343,000 337,314 315,006 337,306 361,926 397,356 445,945 472,567 503,744 539,398 557,339 212,105 249,338 231,965 236,017 276,119 284,895 281,054 288,097 316,278 341,260 341,948 323,635 343,670 368,525 408,252 444,846 479,576 514,360 533,361 561,516 216,092 249,194 228,241 248,485 276,131 287,257 281,476 296,138 322,677 337,871 342,668 332,628 351,242 373,937 419,495 452,857 491,303 527,123 545,043 234,134 239,075 220,201 260,575 281,770 285,376 283,701 305,662 334,886 334,698 335,231 332,355 357,147 385,220 431,713 463,608 497,511 530,011 553,208 10,079 10,536 7,210 5,174 12,314 10,123 8,325 11,170 16,174 16,810 12,934 2,910 (38,526) (102) 17,504 27,046 23,386 27,648 45,354 34,085 6,890 11,281 6,530 6,380 12,485 9,045 9,284 12,060 16,442 13,231 11,710 3,078 6,187 4,108 21,354 23,800 25,699 31,236 20,708 34,545 7,810 10,811 5,802 8,603 11,817 9,201 7,283 14,771 16,024 13,826 9,140 894 8,885 11,778 22,867 21,579 28,803 30,871 29,583 10,794 9,015 2,092 9,899 12,311 10,222 7,747 15,057 18,439 11,716 6,982 371 (345) 11,795 25,482 21,931 28,254 31,637 32,214 Revised. NOTE: Seasonally adjusted estimates are the result of removing normal seasonal patterns from an unadjusted data series to bring out underlying trends. The seasonally adjusted estimate is computed by dividing the unadjusted estimate by its seasonal component or factor. To obtain the seasonally adjusted estimates and seasonal factors, the unadjusted data are run through the X-11 ARIMA, a modification of the Census Method II, a seasonal adjustment program. Further information on the X-11 ARIMA may be obtained from the Associate Director for Statistical Design, Methodology, and Standards, Bureau of the Census, Washington, DC 20233. XXXIV U.S. Census Bureau FINANCIAL DATA TABLES 1 U.S. Census Bureau TABLE 1.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN ALL MANUFACTURING AND ALL NONDURABLE MANUFACTURING INDUSTRIES All Manufacturing1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.7 88.3 8.0 2.0 1.7 7.7 2.2 5.5 100.0 3.8 88.3 7.9 2.1 2.6 8.4 2.1 6.2 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 997,859 36,812 881,449 79,598 19,903 16,846 76,541 21,818 54,723 28,433 26,290 971,488 (7,314) 990,465 985,425 37,215 870,028 78,183 21,108 25,289 82,364 21,186 61,178 27,153 34,025 981,862 (8,535) 1,007,353 1,009,525 38,684 901,695 69,146 21,135 10,634 58,645 14,619 44,026 34,080 9,946 1,000,298 (8,488) 1,001,756 971,178 37,067 861,720 72,391 20,954 30,412 81,849 21,790 60,059 25,042 35,018 988,660 (10,393) 1,013,284 1,036,995 38,403 909,734 88,858 22,037 25,953 92,774 25,771 67,004 25,820 41,184 1,006,658 (16,419) 1,031,423 (percent of net sales) 100.0 3.8 89.3 6.8 2.1 1.1 5.8 1.4 4.4 100.0 3.8 88.7 7.5 2.2 3.1 8.4 2.2 6.2 100.0 3.7 87.7 8.6 2.1 2.5 8.9 2.5 6.5 20.83 14.89 7.97 5.70 22.28 16.55 8.39 6.23 15.79 11.85 5.93 4.45 21.86 16.04 8.13 5.96 24.24 17.51 9.04 6.53 1.31 0.19 1.40 1.28 0.19 1.36 1.29 0.19 1.35 1.29 0.19 1.30 1.28 0.19 1.32 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 2 U.S. Census Bureau All Manufacturing Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 All Nondurable Manufacturing1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 All Nondurable Manufacturing Assets Under $25 Million 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 141,853 3,477 127,746 10,630 1,646 244 9,229 1,324 7,905 4,691 3,213 86,118 (487) 88,844 140,954 3,526 127,112 10,317 1,726 109 8,700 1,260 7,440 3,299 4,141 85,744 (175) 89,710 135,912 3,642 128,272 3,998 1,779 681 2,901 872 2,028 4,161 (2,132) 86,197 (304) 83,760 132,623 3,458 119,552 9,612 1,721 41 7,932 1,011 6,920 3,213 3,707 78,078 (1,031) 80,753 139,533 3,573 125,133 10,827 1,732 175 9,271 1,180 8,091 4,447 3,644 75,623 (441) 78,825 450,471 17,672 392,608 40,191 11,248 10,418 39,361 10,412 28,950 17,555 11,394 510,324 (4,414) 517,304 (million dollars) 448,389 17,681 388,573 42,135 12,014 12,817 42,938 9,852 33,086 16,266 16,820 514,306 (5,370) 525,755 445,053 18,502 395,087 31,463 11,964 (2,616) 16,883 2,054 14,828 22,281 (7,452) 525,106 (610) 517,045 431,760 17,635 378,000 36,124 11,882 10,213 34,455 7,941 26,513 14,045 12,468 508,092 (6,319) 514,241 460,307 18,152 400,945 41,210 12,289 9,117 38,037 10,652 27,385 15,074 12,311 510,592 (7,208) 515,694 55,767 1,412 50,807 3,548 671 217 3,094 442 2,652 1,614 1,038 31,162 (322) 31,878 (million dollars) 56,152 1,384 50,917 3,850 683 87 3,255 463 2,792 1,151 1,640 30,476 (138) 31,979 53,530 1,489 50,744 1,297 689 721 1,329 277 1,052 1,779 (727) 32,969 186 32,428 52,635 1,379 47,628 3,628 653 (1) 2,975 346 2,628 1,034 1,594 27,686 (507) 28,773 53,750 1,425 49,073 3,253 679 206 2,780 402 2,377 1,369 1,008 27,989 (17) 28,980 (percent of net sales) 100.0 2.5 90.1 7.5 1.2 0.2 6.5 0.9 5.6 100.0 2.5 90.2 7.3 1.2 0.1 6.2 0.9 5.3 (percent) 100.0 2.7 94.4 2.9 1.3 0.5 2.1 0.6 1.5 100.0 2.6 90.1 7.2 1.3 0.0 6.0 0.8 5.2 100.0 2.6 89.7 7.8 1.2 0.1 6.6 0.8 5.8 100.0 3.9 87.2 8.9 2.5 2.3 8.7 2.3 6.4 (percent of net sales) 100.0 3.9 86.7 9.4 2.7 2.9 9.6 2.2 7.4 (percent) 100.0 4.2 88.8 7.1 2.7 (0.6) 3.8 0.5 3.3 100.0 4.1 87.5 8.4 2.8 2.4 8.0 1.8 6.1 100.0 3.9 87.1 9.0 2.7 2.0 8.3 2.3 5.9 100.0 2.5 91.1 6.4 1.2 0.4 5.5 0.8 4.8 (percent of net sales) 100.0 2.5 90.7 6.9 1.2 0.2 5.8 0.8 5.0 (percent) 100.0 2.8 94.8 2.4 1.3 1.3 2.5 0.5 2.0 100.0 2.6 90.5 6.9 1.2 0.0 5.7 0.7 5.0 100.0 2.7 91.3 6.1 1.3 0.4 5.2 0.7 4.4 30.47 26.10 13.99 11.98 28.46 24.34 12.97 11.09 10.10 7.07 4.49 3.14 27.26 23.78 12.10 10.56 31.71 27.68 14.09 12.30 22.65 16.66 8.43 6.20 24.74 19.07 9.02 6.95 9.75 8.57 3.54 3.11 19.88 15.30 7.12 5.48 21.87 15.75 7.73 5.56 28.13 24.11 12.19 10.45 29.90 25.65 12.93 11.09 12.62 9.99 5.39 4.27 28.02 24.76 12.08 10.68 26.20 22.40 11.25 9.62 1.96 0.35 1.49 1.97 0.36 1.46 1.92 0.35 1.38 1.94 0.35 1.37 1.96 0.36 1.37 1.21 0.15 1.16 1.19 0.16 1.12 1.19 0.14 1.11 1.18 0.15 1.07 1.16 0.15 1.07 1.78 0.31 1.32 1.81 0.33 1.32 1.77 0.31 1.28 1.82 0.32 1.33 1.81 0.33 1.29 3 U.S. Census Bureau TABLE 1.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN ALL MANUFACTURING AND ALL NONDURABLE MANUFACTURING INDUSTRIES All Manufacturing1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 81,189 27,155 108,343 83,884 192,227 477,158 467,789 176,764 1,313,939 2,081,284 103,876 1,096,353 1,088,806 1,436,587 3,839,332 84,610 33,896 118,506 81,668 200,174 486,370 473,963 181,655 1,342,162 2,102,178 105,128 1,106,295 1,101,011 1,483,477 3,926,651 83,410 26,146 109,556 88,120 197,675 470,874 459,524 195,817 1,323,890 2,111,855 104,031 1,105,602 1,110,284 1,523,786 3,957,960 88,332 25,885 114,217 89,580 203,797 482,168 467,539 201,380 1,354,884 2,128,960 104,955 1,121,519 1,112,396 1,561,865 4,029,145 89,986 24,970 114,955 91,063 206,018 505,459 467,159 196,873 1,375,508 2,136,685 104,083 1,127,232 1,113,537 1,615,049 4,104,094 68,332 115,822 296,721 39,943 25,455 35,981 422,992 1,005,245 269,343 533,346 561,658 2,369,592 479,275 990,465 1,469,739 3,839,332 70,184 125,320 298,527 45,700 28,547 34,977 442,138 1,045,394 285,981 544,476 572,027 2,447,878 471,420 1,007,353 1,478,773 3,926,651 66,788 114,327 301,970 42,703 28,650 34,935 438,254 1,027,628 301,772 555,564 586,971 2,471,935 484,270 1,001,756 1,486,026 3,957,960 70,963 130,689 302,719 45,914 31,751 35,142 429,522 1,046,700 311,648 570,260 602,829 2,531,437 484,424 1,013,284 1,497,708 4,029,145 71,390 119,575 313,435 45,918 29,860 37,208 453,786 1,071,172 309,502 592,191 600,470 2,573,335 499,336 1,031,423 1,530,759 4,104,094 308,694 296,769 296,262 308,184 304,336 (percent of total assets) 5.0 12.4 12.2 34.2 28.4 6.4 26.2 20.9 61.7 38.3 5.1 12.4 12.1 34.2 28.0 6.6 26.6 21.1 62.3 37.7 5.0 11.9 11.6 33.4 28.1 6.2 26.0 21.7 62.5 37.5 5.1 12.0 11.6 33.6 27.6 6.7 26.0 21.9 62.8 37.2 5.0 12.3 11.4 33.5 27.1 6.3 26.1 22.0 62.7 37.3 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 4 U.S. Census Bureau All Manufacturing Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 All Nondurable Manufacturing1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 All Nondurable Manufacturing Assets Under $25 Million 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 20,522 2,987 23,510 6,416 29,925 68,992 60,413 9,892 169,223 186,696 4,529 113,747 77,479 17,122 263,824 21,911 2,948 24,859 6,533 31,392 70,123 60,141 10,180 171,836 188,565 4,839 114,595 78,809 17,700 268,345 20,164 2,675 22,838 6,731 29,569 65,062 58,446 9,950 163,028 188,802 4,678 115,302 78,178 17,326 258,531 21,207 2,652 23,859 6,338 30,196 68,025 58,642 9,975 166,838 189,138 4,204 114,808 78,534 16,865 262,237 22,426 3,009 25,434 5,980 31,414 69,016 59,274 9,733 169,437 32,199 9,875 42,075 21,615 63,690 197,535 180,817 77,168 519,210 (million dollars) 33,778 13,714 47,492 21,804 69,296 203,013 179,573 78,239 530,122 30,378 7,801 38,179 22,870 61,049 192,920 177,438 80,780 512,187 29,680 8,062 37,743 27,463 65,206 197,745 179,173 82,120 524,244 30,766 9,086 39,852 29,341 69,193 203,682 178,359 80,940 532,174 7,334 1,297 8,631 2,223 10,854 26,483 20,439 3,913 61,689 76,217 1,504 45,750 31,971 7,875 101,535 (million dollars) 7,542 1,329 8,871 2,399 11,270 27,034 19,578 3,894 61,776 74,289 1,723 44,742 31,270 7,652 100,698 6,941 914 7,855 2,453 10,309 25,222 19,480 3,910 58,921 75,293 1,742 45,269 31,766 7,870 98,558 7,342 1,002 8,344 2,140 10,484 26,274 19,673 4,027 60,457 73,950 1,244 44,097 31,096 6,920 98,473 7,585 1,404 8,989 1,920 10,909 26,325 19,649 3,811 60,694 73,705 1,577 44,104 31,178 6,928 98,800 188,087 1,157,049 1,165,986 1,172,169 1,176,207 1,187,809 4,371 74,229 74,863 73,780 74,104 73,623 114,773 609,406 613,717 613,144 618,575 623,345 77,685 16,000 621,872 726,296 627,132 746,590 632,805 761,714 631,736 780,304 638,086 799,009 263,122 1,867,378 1,903,844 1,906,706 1,936,284 1,969,270 17,822 3,852 35,285 1,230 6,300 2,934 18,815 86,237 27,719 22,815 5,913 142,684 32,295 88,844 121,139 263,824 18,203 3,664 35,075 1,441 6,527 2,991 19,213 87,115 28,874 23,478 6,586 146,053 32,582 89,710 122,292 268,345 18,172 3,289 34,023 1,198 6,472 3,043 18,619 84,815 28,730 23,479 6,677 143,701 31,070 83,760 114,830 258,531 18,271 3,333 35,270 1,122 6,865 3,170 17,778 85,808 30,489 22,723 6,828 145,848 35,635 80,753 116,388 262,237 18,796 3,242 35,325 1,053 6,689 3,296 18,015 86,416 29,202 24,346 6,219 38,113 78,825 116,938 32,316 69,388 127,037 19,405 12,829 21,529 147,252 429,756 141,202 320,017 281,328 177,770 517,304 695,074 34,176 72,675 124,966 23,051 14,874 20,767 153,931 444,439 149,840 326,294 289,146 168,370 525,755 694,125 33,481 65,833 126,634 18,004 14,383 21,124 152,574 432,033 158,044 330,670 293,489 175,426 517,045 692,471 33,715 81,809 123,962 19,985 16,026 20,330 149,218 445,045 161,475 334,848 301,697 178,977 514,241 693,219 35,611 72,010 127,860 20,682 14,241 21,903 165,796 458,102 161,170 347,835 306,589 179,881 515,694 695,575 7,277 2,182 14,670 404 2,395 1,319 6,384 34,630 11,038 9,023 2,842 57,533 12,124 31,878 44,002 101,535 7,424 1,724 14,387 555 2,323 1,357 6,434 34,204 10,486 9,548 2,924 57,162 11,557 31,979 43,536 100,698 7,627 1,323 14,048 419 2,496 1,128 6,165 33,206 10,769 9,652 2,823 56,449 9,681 32,428 42,109 98,558 7,150 1,389 14,472 408 2,343 905 6,478 33,146 10,437 9,586 2,848 56,018 13,683 28,773 42,456 98,473 7,726 1,185 14,404 422 2,472 1,186 6,073 33,467 10,625 9,824 2,441 56,358 13,462 28,980 42,442 98,800 146,184 1,172,304 1,209,719 1,214,235 1,243,065 1,273,695 263,122 1,867,378 1,903,844 1,906,706 1,936,284 1,969,270 82,985 84,721 78,213 81,030 83,021 89,454 85,682 80,154 79,199 74,072 27,058 27,572 25,716 27,311 27,227 (percent of total assets) (percent of total assets) (percent of total assets) 11.3 26.2 22.9 64.1 29.4 11.7 32.7 19.2 54.1 45.9 11.7 26.1 22.4 64.0 29.4 11.7 32.5 19.5 54.4 45.6 11.4 25.2 22.6 63.1 30.2 12.0 32.8 20.2 55.6 44.4 11.5 25.9 22.4 63.6 29.9 12.1 32.7 20.3 55.6 44.4 11.9 26.2 22.5 64.4 29.5 12.2 32.8 20.4 55.6 44.4 3.4 10.6 9.7 27.8 33.3 7.3 23.0 24.7 62.8 37.2 3.6 10.7 9.4 27.8 32.9 7.5 23.3 25.0 63.5 36.5 3.2 10.1 9.3 26.9 33.2 7.1 22.7 25.6 63.7 36.3 3.4 10.2 9.3 27.1 32.6 7.8 23.0 25.6 64.2 35.8 3.5 10.3 9.1 27.0 32.4 7.3 23.3 25.8 64.7 35.3 10.7 26.1 20.1 60.8 31.5 13.0 34.1 19.8 56.7 43.3 11.2 26.8 19.4 61.3 31.1 12.7 34.0 19.9 56.8 43.2 10.5 25.6 19.8 59.8 32.2 12.8 33.7 20.7 57.3 42.7 10.6 26.7 20.0 61.4 31.6 12.0 33.7 20.3 56.9 43.1 11.0 26.6 19.9 61.4 31.6 12.7 33.9 20.7 57.0 43.0 5 U.S. Census Bureau TABLE 2.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 20, 21, AND 22 Food and Kindred Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 2.6 87.9 9.4 2.4 0.6 7.6 2.4 5.1 100.0 2.5 86.4 11.1 2.4 1.7 10.4 2.7 7.7 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 4Q 1998 1Q 1999 2Q 1999 121,068 3,188 106,467 11,413 2,929 697 9,180 2,955 6,226 3,703 2,523 124,587 (1,288) 125,822 121,704 3,094 105,153 13,457 2,909 2,079 12,627 3,230 9,397 4,182 5,215 125,307 (1,544) 128,979 123,792 3,282 109,122 11,388 2,942 (2,504) 5,943 1,470 4,472 7,394 (2,922) 128,106 (196) 124,989 119,426 3,150 105,784 10,492 3,039 1,893 9,346 2,660 6,686 3,760 2,926 123,787 (233) 126,479 120,896 3,212 106,402 11,282 3,058 729 8,954 3,202 5,752 3,194 2,557 125,925 (593) 127,890 (percent of net sales) 100.0 2.7 88.1 9.2 2.4 (2.0) 4.8 1.2 3.6 100.0 2.6 88.6 8.8 2.5 1.6 7.8 2.2 5.6 100.0 2.7 88.0 9.3 2.5 0.6 7.4 2.6 4.8 27.27 18.49 9.19 6.23 37.03 27.56 12.31 9.16 18.00 13.55 5.81 4.37 28.28 20.23 9.03 6.46 27.10 17.41 8.56 5.50 1.22 0.18 0.91 1.18 0.19 0.88 1.15 0.13 0.84 1.13 0.16 0.81 1.12 0.19 0.81 Tobacco industry data are included in food industry data. Major merger and acquisition activities in previous years resulted in the reclassification of a significant portion of gross receipts and assets from tobacco to food. The remainder, composed of data from highly specialized tobacco manufacturers, is too small to be considered publishable as a separate industry. 2 Prior quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 3 Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 6 U.S. Census Bureau Food and Kindred Products Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Textile Mill Products 3Q 1998 4Q 1998 1Q 19993 2Q 1999 2Q 1998 Textile Mill Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 19993 2Q 1999 (million dollars) 10,961 238 10,292 431 110 44 364 84 280 177 102 3,283 (5) 3,380 11,339 233 10,633 473 125 59 407 73 335 207 127 3,670 (16) 3,781 11,831 240 11,083 509 123 (8) 377 73 304 159 146 4,175 105 4,426 10,949 231 10,112 606 112 (26) 469 51 418 156 261 4,058 (93) 4,226 11,524 218 10,706 600 113 45 532 67 465 257 208 3,875 (58) 4,025 16,398 633 14,514 1,251 376 (161) 714 184 530 186 345 12,362 (105) 12,601 (million dollars) 15,890 621 14,046 1,223 370 17 870 206 663 331 332 11,821 20 12,173 14,862 652 13,421 789 351 19 457 154 303 207 96 12,459 (39) 12,516 14,987 676 13,621 690 379 (5) 305 100 205 267 (62) 11,844 (95) 11,687 15,436 667 14,006 763 399 (1) 363 181 182 145 36 10,833 (149) 10,721 3,360 105 3,085 171 49 14 137 15 122 51 71 2,514 (53) 2,532 (million dollars) 3,763 94 3,382 286 50 14 251 17 234 147 87 2,309 3 2,398 3,217 73 3,140 4 29 18 (7) 8 (14) 85 (99) 2,324 36 2,260 2,936 75 2,784 77 44 33 65 14 52 77 (25) 1,743 (6) 1,711 2,805 69 2,725 12 46 3 (31) (1) (31) 43 (74) 1,414 (13) 1,326 (percent of net sales) 100.0 2.2 93.9 3.9 1.0 0.4 3.3 0.8 2.6 100.0 2.1 93.8 4.2 1.1 0.5 3.6 0.6 3.0 (percent) 100.0 2.0 93.7 4.3 1.0 (0.1) 3.2 0.6 2.6 100.0 2.1 92.4 5.5 1.0 (0.2) 4.3 0.5 3.8 100.0 1.9 92.9 5.2 1.0 0.4 4.6 0.6 4.0 100.0 3.9 88.5 7.6 2.3 (1.0) 4.4 1.1 3.2 (percent of net sales) 100.0 3.9 88.4 7.7 2.3 0.1 5.5 1.3 4.2 (percent) 100.0 4.4 90.3 5.3 2.4 0.1 3.1 1.0 2.0 100.0 4.5 90.9 4.6 2.5 0.0 2.0 0.7 1.4 100.0 4.3 90.7 4.9 2.6 0.0 2.3 1.2 1.2 100.0 3.1 91.8 5.1 1.4 0.4 4.1 0.4 3.6 (percent of net sales) 100.0 2.5 89.9 7.6 1.3 0.4 6.7 0.4 6.2 (percent) 100.0 2.3 97.6 0.1 0.9 0.6 (0.2) 0.2 (0.4) 100.0 2.5 94.8 2.6 1.5 1.1 2.2 0.5 1.8 100.0 2.5 97.1 0.4 1.6 0.1 (1.1) 0.0 (1.1) 22.62 17.39 8.99 6.91 22.18 18.23 9.71 7.98 20.86 16.83 8.76 7.07 27.62 24.61 11.54 10.28 30.90 27.04 12.57 11.00 14.87 11.04 5.86 4.35 18.70 14.27 7.40 5.65 9.45 6.26 3.89 2.58 6.58 4.42 2.54 1.71 8.23 4.12 3.03 1.52 18.21 16.19 8.09 7.19 35.20 32.82 14.67 13.68 (0.99) (2.13) (0.46) (1.00) 12.31 9.73 4.99 3.95 (6.89) (6.74) (2.45) (2.40) 1.48 0.22 1.03 1.59 0.26 1.30 1.62 0.26 1.14 1.71 0.22 1.18 1.79 0.29 1.10 2.09 0.14 1.00 2.05 0.15 1.02 2.00 0.17 1.09 1.98 0.12 0.96 1.98 0.11 0.88 1.76 0.23 1.22 1.72 0.23 1.14 1.89 0.26 1.62 1.90 0.16 1.19 1.71 0.13 0.82 7 U.S. Census Bureau TABLE 2.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 20, 21, AND 22 Food and Kindred Products1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 8.6 12.0 28.6 26.6 7.5 23.5 29.6 66.3 33.7 4.7 8.9 11.9 29.1 26.2 9.0 24.7 28.9 66.8 33.2 3.3 9.0 12.4 28.4 26.3 8.5 24.7 29.9 67.7 32.3 4.1 8.6 12.0 28.4 26.0 9.5 25.1 29.9 68.1 31.9 4.7 8.5 11.3 28.1 26.1 8.9 25.0 30.1 68.4 31.6 20,539 18,292 15,267 13,953 12,946 8,845 12,131 28,135 5,223 3,191 5,642 30,623 93,789 37,552 80,590 52,998 264,930 8,844 125,822 134,666 399,596 9,927 17,386 27,121 5,865 3,394 6,160 31,438 101,291 38,738 79,947 54,041 274,016 7,420 128,979 136,398 410,415 10,017 16,565 29,369 4,731 3,367 4,910 32,096 101,055 38,573 83,593 53,914 277,135 7,045 124,989 132,034 409,170 9,293 21,448 26,716 5,623 3,606 5,114 32,053 103,854 38,951 84,998 54,092 281,894 5,716 126,479 132,195 414,090 8,591 19,887 27,743 5,502 3,586 5,201 34,203 104,711 36,787 89,176 55,369 286,042 4,267 127,890 132,156 418,199 5,628 6,168 11,796 5,533 17,329 34,484 47,752 14,763 114,328 193,172 6,575 93,292 106,455 178,812 399,596 2Q 1998 3Q 1998 (million dollars) 5,399 9,092 14,492 4,924 19,416 36,329 48,780 15,058 119,583 194,306 6,852 93,752 107,406 183,426 410,415 5,380 4,066 9,446 4,009 13,456 36,876 50,891 15,100 116,322 196,147 7,085 95,479 107,753 185,094 409,170 5,002 4,656 9,658 7,315 16,972 35,814 49,659 15,361 117,807 196,910 6,900 96,122 107,688 188,595 414,090 5,865 5,739 11,604 7,900 19,504 35,400 47,260 15,493 117,656 199,215 7,110 97,252 109,073 191,469 418,199 4Q 1998 2 1Q 1999 2Q 1999 (percent of total assets) 1 Tobacco industry data are included in food industry data. Major merger and acquisition activities in previous years resulted in the reclassification of a significant portion of gross receipts and assets from tobacco to food. The remainder, composed of data from highly specialized tobacco manufactures, is too small to be considered publishable as a separate industry. 2 Prior quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 3 Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 8 U.S. Census Bureau Food and Kindred Products Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Textile Mill Products 3Q 1998 4Q 1998 1Q 19993 2Q 1999 2Q 1998 Textile Mill Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 19993 2Q 1999 (million dollars) 845 229 1,074 216 1,290 3,486 3,341 517 8,634 14,687 472 8,737 6,423 1,141 16,199 947 149 1,095 358 1,454 3,363 3,476 537 8,830 13,994 736 8,244 6,486 1,449 16,765 944 163 1,106 426 1,532 3,774 3,421 692 9,420 13,652 762 8,068 6,346 1,471 17,238 770 135 905 253 1,158 3,625 3,634 604 9,021 13,659 497 8,008 6,149 1,071 16,240 1,043 217 1,259 309 1,568 3,770 3,477 721 9,537 13,907 583 8,224 6,266 1,115 16,918 1,067 69 1,136 293 1,429 8,332 10,851 1,361 21,973 37,175 596 20,956 16,814 9,956 48,743 (million dollars) 1,116 189 1,305 263 1,568 8,052 10,027 1,202 20,849 36,358 645 20,653 16,350 9,791 46,991 1,263 179 1,442 212 1,654 7,297 9,789 1,152 19,891 37,646 648 21,648 16,645 10,390 46,926 993 146 1,139 153 1,293 7,545 10,377 1,311 20,525 38,585 740 21,986 17,340 10,170 48,034 731 228 958 130 1,089 7,630 10,351 1,298 20,368 38,434 513 21,536 17,411 10,061 47,839 443 26 469 79 548 1,715 1,768 242 4,274 5,766 75 3,591 2,250 233 6,757 (million dollars) 471 61 532 65 598 1,821 1,851 208 4,478 5,294 123 3,324 2,093 261 6,831 488 0 489 47 536 1,635 1,496 213 3,879 5,066 107 3,515 1,659 203 5,741 284 11 295 11 306 1,386 1,588 255 3,535 4,811 70 3,356 1,525 183 5,243 152 111 263 13 276 1,321 1,695 231 3,524 4,289 95 3,064 1,320 269 5,113 1,621 348 2,192 68 455 224 908 5,815 2,191 1,421 334 9,760 3,059 3,380 6,438 16,199 1,271 241 2,291 74 478 336 862 5,554 1,947 1,366 556 9,422 3,562 3,781 7,343 16,765 1,571 204 2,409 59 523 247 796 5,810 1,973 1,821 396 9,999 2,812 4,426 7,238 17,238 1,258 203 2,480 76 327 115 820 5,278 1,854 1,983 339 9,455 2,559 4,226 6,786 16,240 1,157 257 2,452 75 354 180 843 5,317 2,019 2,277 424 10,037 2,856 4,025 6,881 16,918 1,683 666 3,743 103 928 353 3,037 10,514 7,127 8,521 3,378 29,539 6,603 12,601 19,204 48,743 1,779 668 3,545 178 725 289 3,009 10,193 6,649 8,209 3,340 28,391 6,427 12,173 18,600 46,991 2,019 209 3,522 164 830 231 2,992 9,967 6,522 7,850 3,256 27,594 6,816 12,516 19,332 46,926 2,082 273 3,665 188 1,133 174 2,831 10,345 7,061 8,551 3,532 29,490 6,858 11,687 18,545 48,034 2,281 212 3,549 209 1,067 150 2,838 10,306 7,667 8,689 3,553 30,214 6,905 10,721 17,626 47,839 429 594 842 12 148 93 311 2,429 755 446 126 3,755 469 2,532 3,001 6,757 498 548 931 28 130 62 411 2,608 678 582 116 3,984 449 2,398 2,848 6,831 536 101 879 (6) 81 25 436 2,052 557 362 81 3,053 428 2,260 2,688 5,741 475 104 781 (11) 125 40 342 1,857 571 468 222 3,118 414 1,711 2,125 5,243 772 46 791 18 177 40 217 2,060 606 575 49 3,290 496 1,326 1,823 5,113 2,820 3,276 3,611 3,743 4,220 11,459 10,656 9,924 10,180 10,062 1,844 1,870 1,827 1,678 1,464 (percent of total assets) (percent of total assets) (percent of total assets) 8.0 21.5 20.6 53.3 39.7 16.3 35.9 22.3 60.3 39.7 8.7 20.1 20.7 52.7 38.7 13.9 33.1 19.8 56.2 43.8 8.9 21.9 19.8 54.6 36.8 14.8 33.7 22.0 58.0 42.0 7.1 22.3 22.4 55.5 37.9 11.7 32.5 23.6 58.2 41.8 9.3 22.3 20.6 56.4 37.0 11.5 31.4 25.4 59.3 40.7 2.9 17.1 22.3 45.1 34.5 7.4 21.6 32.1 60.6 39.4 3.3 17.1 21.3 44.4 34.8 7.4 21.7 31.6 60.4 39.6 3.5 15.5 20.9 42.4 35.5 7.0 21.2 30.6 58.8 41.2 2.7 15.7 21.6 42.7 36.1 7.6 21.5 32.5 61.4 38.6 2.3 15.9 21.6 42.6 36.4 7.8 21.5 34.2 63.2 36.8 8.1 25.4 26.2 63.2 33.3 18.7 36.0 17.8 55.6 44.4 8.7 26.7 27.1 65.5 30.6 18.1 38.2 18.4 58.3 41.7 9.3 28.5 26.1 67.6 28.9 12.9 35.7 16.0 53.2 46.8 5.8 26.4 30.3 67.4 29.1 14.2 35.4 19.8 59.5 40.5 5.4 25.8 33.2 68.9 25.8 20.2 40.3 23.1 64.4 35.6 9 U.S. Census Bureau TABLE 3.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 23, 26, AND 31 Apparel1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 1.4 92.5 6.1 1.6 0.9 5.3 1.1 4.2 100.0 1.4 90.7 7.8 2.0 1.1 7.0 1.8 5.2 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Includes Leather Products. 2 Prior quarters’ data are revised 3 2 4Q 1998 1Q 1999 2Q 1999 17,548 252 16,230 1,066 289 149 926 195 732 312 419 9,148 (38) 9,529 18,998 273 17,236 1,489 372 209 1,326 335 991 193 798 9,465 (29) 10,234 16,507 301 15,943 263 303 176 136 131 6 546 (541) 10,029 (51) 9,437 17,123 314 15,849 960 297 (357) 306 84 222 175 48 8,973 (64) 8,957 16,758 357 15,642 759 307 31 482 171 311 246 65 9,914 (11) 9,968 (percent of net sales) 100.0 1.8 96.6 1.6 1.8 1.1 0.8 0.8 0.0 100.0 1.8 92.6 5.6 1.7 (2.1) 1.8 0.5 1.3 100.0 2.1 93.3 4.5 1.8 0.2 2.9 1.0 1.9 26.03 20.56 9.25 7.30 36.34 27.17 12.85 9.61 3.99 0.16 1.39 0.06 8.79 6.39 3.04 2.21 12.48 8.05 4.57 2.95 1.95 0.17 1.01 2.08 0.17 0.96 1.98 0.16 0.97 2.01 0.17 0.96 2.09 0.22 1.04 to reflect additional information and/or corrections submitted by respondent subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 10 U.S. Census Bureau Apparel Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Paper and Allied Products 3Q 19983 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Paper and Allied Products Assets Under $25 Million 3Q 1998 4Q 19983 1Q 19993 2Q 1999 (million dollars) 7,038 64 6,555 420 79 37 378 43 334 144 190 4,125 (20) 4,296 6,468 57 5,932 479 67 16 428 39 390 99 291 4,245 27 4,563 6,102 87 6,253 (239) 73 29 (283) 13 (296) 377 (672) 4,442 73 3,843 6,658 89 6,249 320 70 3 253 22 232 101 131 3,935 71 4,136 5,562 101 5,254 207 70 43 181 32 149 175 (26) 4,050 23 4,047 41,730 2,348 36,060 3,322 1,349 323 2,296 706 1,590 1,183 407 37,580 18 38,006 (million dollars) 41,918 2,432 36,161 3,325 1,374 187 2,138 731 1,408 814 594 37,937 132 38,663 41,036 2,460 36,245 2,332 1,371 (262) 699 272 427 1,588 (1,160) 40,567 1,086 40,492 39,583 2,376 34,185 3,022 1,305 (137) 1,580 508 1,073 780 293 37,951 (114) 38,129 42,579 2,413 36,479 3,688 1,362 486 2,811 808 2,003 689 1,314 35,741 (567) 36,488 4,871 125 4,419 327 61 1 267 44 223 301 (78) 3,502 13 3,437 (million dollars) 4,673 129 4,248 296 64 11 243 40 203 72 131 3,136 19 3,287 4,848 148 4,538 162 69 122 215 33 182 138 44 3,724 (5) 3,763 4,307 108 3,864 336 54 (17) 264 24 240 44 196 3,346 (7) 3,535 4,821 121 4,327 373 58 6 322 39 282 97 185 3,060 0 3,245 (percent of net sales) 100.0 0.9 93.1 6.0 1.1 0.5 5.4 0.6 4.7 100.0 0.9 91.7 7.4 1.0 0.3 6.6 0.6 6.0 (percent) 100.0 1.4 102.5 (3.9) 1.2 0.5 (4.6) 0.2 (4.8) 100.0 1.3 93.9 4.8 1.1 0.0 3.8 0.3 3.5 100.0 1.8 94.5 3.7 1.3 0.8 3.2 0.6 2.7 100.0 5.6 86.4 8.0 3.2 0.8 5.5 1.7 3.8 (percent of net sales) 100.0 5.8 86.3 7.9 3.3 0.4 5.1 1.7 3.4 (percent) 100.0 6.0 88.3 5.7 3.3 (0.6) 1.7 0.7 1.0 100.0 6.0 86.4 7.6 3.3 (0.3) 4.0 1.3 2.7 100.0 5.7 85.7 8.7 3.2 1.1 6.6 1.9 4.7 100.0 2.6 90.7 6.7 1.3 0.0 5.5 0.9 4.6 (percent of net sales) 100.0 2.8 90.9 6.3 1.4 0.2 5.2 0.9 4.3 (percent) 100.0 3.1 93.6 3.3 1.4 2.5 4.4 0.7 3.8 100.0 2.5 89.7 7.8 1.3 (0.4) 6.1 0.6 5.6 100.0 2.5 89.8 7.7 1.2 0.1 6.7 0.8 5.9 31.66 28.01 13.36 11.82 34.90 31.75 16.81 15.29 (26.52) (27.73) (11.04) (11.54) 20.53 18.78 9.32 8.53 15.64 12.87 7.19 5.92 14.80 10.25 5.05 3.50 13.75 9.05 4.64 3.05 4.34 2.65 1.50 0.92 10.23 6.94 3.46 2.35 18.29 13.03 5.94 4.23 26.95 22.52 11.98 10.01 26.17 21.83 11.31 9.43 21.05 17.83 9.64 8.17 28.47 25.86 13.26 12.05 36.49 32.03 15.11 13.26 1.80 0.27 1.40 2.10 0.34 1.73 1.86 0.20 1.30 2.06 0.25 1.52 2.08 0.34 1.46 1.38 0.13 0.85 1.33 0.12 0.84 1.32 0.11 0.89 1.30 0.10 0.84 1.30 0.11 0.79 1.73 0.23 1.37 1.78 0.28 1.26 1.82 0.31 1.41 1.69 0.31 1.59 1.70 0.26 1.20 11 U.S. Census Bureau TABLE 3.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 23, 26, AND 31 Apparel1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Includes Leather Products. 2 Prior quarters’ data are revised 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 1,740 164 1,904 400 2,304 9,078 12,800 1,733 25,915 12,941 271 6,485 6,727 7,440 40,082 1,518 228 1,746 430 2,175 10,576 12,326 1,684 26,761 13,446 284 6,951 6,779 7,730 41,270 1,421 123 1,543 358 1,901 8,478 12,168 1,559 24,107 13,748 236 7,105 6,879 8,158 39,144 1,765 84 1,849 348 2,197 9,326 11,806 2,327 25,656 14,084 268 7,368 6,984 7,609 40,249 2,015 84 2,100 736 2,835 9,162 12,521 2,188 26,706 14,767 270 7,780 7,256 8,255 42,217 2,451 803 5,430 368 451 628 3,143 13,273 3,538 6,226 2,805 25,842 4,710 9,529 14,239 40,082 2,722 521 4,943 531 526 673 2,972 12,888 4,138 6,587 3,065 26,677 4,359 10,234 14,593 41,270 2,603 484 4,726 513 370 671 2,824 12,190 3,766 6,234 3,272 25,462 4,245 9,437 13,682 39,144 2,664 653 4,986 331 473 544 3,120 12,770 3,914 6,300 3,343 26,327 4,965 8,957 13,922 40,249 2,434 736 4,825 211 568 559 3,451 12,784 3,534 7,110 3,324 26,752 5,497 9,968 15,465 42,217 12,641 13,873 11,917 12,886 13,922 (percent of total assets) 5.7 22.6 31.9 64.7 16.8 10.8 33.1 24.4 64.5 35.5 5.3 25.6 29.9 64.8 16.4 10.8 31.2 26.0 64.6 35.4 4.9 21.7 31.1 61.6 17.6 10.5 31.1 25.5 65.0 35.0 5.5 23.2 29.3 63.7 17.4 10.8 31.7 25.4 65.4 34.6 6.7 21.7 29.7 63.3 17.2 10.2 30.3 25.2 63.4 36.6 to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 12 U.S. Census Bureau Apparel Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Paper and Allied Products2 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Paper and Allied Products Assets Under $25 Million 3Q 19983 4Q 19983 1Q 19993 2Q 1999 (million dollars) 1,012 151 1,162 154 1,317 3,077 3,929 467 8,789 3,439 73 2,078 1,434 1,084 11,307 900 222 1,122 171 1,292 2,964 3,380 421 8,057 3,385 59 2,303 1,140 1,000 10,197 671 101 771 92 864 2,584 3,980 445 7,873 3,789 42 2,445 1,386 985 10,243 854 70 924 93 1,016 3,176 3,696 570 8,459 3,945 48 2,525 1,468 944 10,871 1,058 78 1,137 185 1,321 2,830 3,479 369 8,000 3,709 51 2,461 1,299 748 10,046 2,137 345 2,483 1,577 4,060 18,020 16,883 5,051 44,013 158,804 12,493 75,235 96,061 41,827 181,902 (million dollars) 2,085 214 2,299 1,677 3,976 17,854 16,672 4,417 42,919 161,465 12,450 76,723 97,192 44,249 184,360 2,005 193 2,197 1,241 3,438 17,020 16,497 4,702 41,656 161,202 12,141 74,921 98,422 46,570 186,648 1,598 206 1,804 1,520 3,324 17,684 16,074 4,439 41,521 159,533 12,184 75,455 96,262 44,950 182,733 2,115 266 2,381 1,383 3,763 19,298 16,672 4,446 44,180 162,348 11,675 75,956 98,067 46,982 189,229 469 84 553 155 708 2,446 1,713 366 5,234 7,436 104 4,304 3,235 450 8,919 (million dollars) 500 60 559 238 797 2,346 1,551 297 4,991 7,419 113 4,307 3,225 387 8,603 527 19 547 348 895 2,404 1,683 259 5,241 7,399 111 4,314 3,195 467 8,903 515 35 550 308 858 2,254 1,350 235 4,697 6,840 61 4,075 2,825 447 7,970 444 97 541 226 767 2,437 1,511 245 4,961 6,923 73 3,888 3,109 444 8,513 1,296 290 2,266 67 104 225 639 4,887 429 1,063 157 6,536 476 4,296 4,771 11,307 1,265 103 1,744 46 82 123 472 3,834 311 954 187 5,287 348 4,563 4,910 10,197 1,398 134 1,778 92 187 92 544 4,226 528 938 287 5,979 421 3,843 4,264 10,243 1,051 245 1,846 37 166 132 625 4,101 524 1,121 189 5,936 799 4,136 4,936 10,871 1,026 212 1,587 24 241 243 513 3,846 318 1,134 128 5,426 574 4,047 4,620 10,046 2,286 5,437 10,190 519 1,044 1,411 10,951 31,838 18,602 44,246 25,167 119,853 24,043 38,006 62,049 181,902 2,748 4,653 9,725 672 1,428 1,444 11,517 32,187 19,257 44,296 26,400 122,140 23,557 38,663 62,220 184,360 2,136 3,565 9,912 809 1,345 2,115 11,762 31,645 22,150 41,209 27,110 122,115 24,041 40,492 64,533 186,648 1,987 4,544 9,600 962 1,454 2,232 11,190 31,969 22,378 40,730 25,842 120,919 23,685 38,129 61,814 182,733 1,905 4,730 10,636 1,231 1,451 2,290 11,692 33,934 25,611 41,489 26,712 127,747 24,995 36,488 61,483 189,229 683 160 1,336 16 204 138 480 3,017 1,189 514 236 4,956 527 3,437 3,963 8,919 611 116 1,219 34 234 125 472 2,811 1,354 510 210 4,886 430 3,287 3,717 8,603 688 107 1,177 41 304 47 520 2,883 1,324 425 191 4,823 317 3,763 4,079 8,903 596 136 1,171 33 220 22 598 2,776 990 368 123 4,257 178 3,535 3,713 7,970 560 108 1,292 42 220 100 588 2,911 1,262 694 122 4,989 280 3,245 3,525 8,513 3,903 4,223 3,647 4,358 4,154 12,175 10,732 10,011 9,552 10,245 2,217 2,180 2,358 1,921 2,050 (percent of total assets) (percent of total assets) (percent of total assets) 11.6 27.2 34.7 77.7 12.7 16.9 43.2 13.2 57.8 42.2 12.7 29.1 33.1 79.0 11.2 15.4 37.6 12.4 51.8 48.2 8.4 25.2 38.9 76.9 13.5 17.7 41.3 14.3 58.4 41.6 9.3 29.2 34.0 77.8 13.5 14.7 37.7 15.1 54.6 45.4 13.2 28.2 34.6 79.6 12.9 17.1 38.3 14.5 54.0 46.0 2.2 9.9 9.3 24.2 52.8 5.6 17.5 34.6 65.9 34.1 2.2 9.7 9.0 23.3 52.7 5.6 17.5 34.5 66.3 33.7 1.8 9.1 8.8 22.3 52.7 4.9 17.0 33.9 65.4 34.6 1.8 9.7 8.8 22.7 52.7 5.6 17.5 34.5 66.2 33.8 2.0 10.2 8.8 23.3 51.8 5.5 17.9 35.5 67.5 32.5 7.9 27.4 19.2 58.7 36.3 13.3 33.8 19.1 55.6 44.4 9.3 27.3 18.0 58.0 37.5 12.6 32.7 21.7 56.8 43.2 10.1 27.0 18.9 58.9 35.9 12.9 32.4 19.6 54.2 45.8 10.8 28.3 16.9 58.9 35.5 12.2 34.8 17.0 53.4 46.6 9.0 28.6 17.8 58.3 36.5 11.6 34.2 23.0 58.6 41.4 13 U.S. Census Bureau TABLE 4.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 27 AND 28 Printing and Publishing1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.8 85.2 11.0 2.0 0.9 9.8 3.3 6.5 100.0 3.8 84.8 11.4 2.1 2.3 11.7 2.9 8.8 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 46,484 1,769 39,604 5,110 942 397 4,565 1,543 3,022 1,485 1,538 40,075 (489) 41,123 47,403 1,808 40,179 5,417 975 1,093 5,535 1,372 4,163 1,349 2,815 40,670 (686) 42,799 48,682 1,852 41,452 5,378 1,090 834 5,123 1,496 3,627 1,803 1,824 42,840 (644) 44,020 46,129 1,814 39,323 4,992 984 270 4,279 1,181 3,098 1,034 2,064 46,915 (1,465) 47,513 47,387 1,979 39,698 5,710 1,092 1,573 6,191 1,922 4,269 1,118 3,150 46,099 (484) 48,765 (percent of net sales) 100.0 3.8 85.1 11.0 2.2 1.7 10.5 3.1 7.5 100.0 3.9 85.2 10.8 2.1 0.6 9.3 2.6 6.7 100.0 4.2 83.8 12.0 2.3 3.3 13.1 4.1 9.0 29.21 19.34 10.17 6.73 34.60 26.03 11.82 8.89 30.80 21.81 10.70 7.58 24.68 17.87 8.74 6.33 34.89 24.05 12.50 8.62 1.33 0.21 1.05 1.34 0.23 1.01 1.35 0.25 1.04 1.37 0.28 1.05 1.40 0.30 1.07 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 14 U.S. Census Bureau Printing and Publishing Assets Under $25 Million 2Q 1998 3Q 1998 4Q 1998 1Q 19992 2Q 1999 2Q 1998 Chemicals and Allied Products1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Chemicals and Allied Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 19992 2Q 1999 (million dollars) 13,586 462 12,160 964 174 62 851 87 764 426 338 8,711 (160) 8,889 13,596 426 12,052 1,118 172 14 961 135 825 346 480 8,074 (108) 8,446 12,869 484 12,064 320 184 536 672 93 578 695 (116) 8,797 96 8,777 12,833 434 11,267 1,131 168 (67) 896 68 829 247 582 9,391 (254) 9,718 12,641 436 11,273 931 181 43 793 81 713 327 385 8,818 22 9,224 109,329 4,581 94,002 10,746 3,277 7,141 14,610 2,750 11,860 6,170 5,689 141,876 (1,865) 145,701 (million dollars) 108,280 4,672 92,367 11,241 3,778 5,713 13,176 2,648 10,529 5,699 4,830 145,896 (2,941) 147,785 111,025 4,907 96,410 9,708 3,859 3,333 9,181 592 8,589 6,748 1,841 145,237 (795) 146,283 111,805 4,780 94,403 12,622 3,800 5,930 14,752 2,750 12,001 3,803 8,199 146,716 (4,423) 150,492 117,435 5,037 99,657 12,740 3,882 3,288 12,146 2,739 9,406 6,164 3,243 151,302 (5,192) 149,353 5,748 119 5,300 328 59 29 298 55 243 194 48 2,289 (58) 2,279 (million dollars) 5,962 122 5,393 447 60 19 406 76 331 140 191 2,548 (4) 2,735 5,434 126 5,246 63 71 25 17 43 (26) 106 (132) 2,498 74 2,440 5,873 132 5,206 535 70 (11) 454 79 374 149 226 2,376 (99) 2,502 5,949 132 5,472 345 67 47 326 72 254 203 51 4,009 26 4,086 (percent of net sales) 100.0 3.4 89.5 7.1 1.3 0.5 6.3 0.6 5.6 100.0 3.1 88.6 8.2 1.3 0.1 7.1 1.0 6.1 (percent) 100.0 3.8 93.7 2.5 1.4 4.2 5.2 0.7 4.5 100.0 3.4 87.8 8.8 1.3 (0.5) 7.0 0.5 6.5 100.0 3.4 89.2 7.4 1.4 0.3 6.3 0.6 5.6 100.0 4.2 86.0 9.8 3.0 6.5 13.4 2.5 10.8 (percent of net sales) 100.0 4.3 85.3 10.4 3.5 5.3 12.2 2.4 9.7 (percent) 100.0 4.4 86.8 8.7 3.5 3.0 8.3 0.5 7.7 100.0 4.3 84.4 11.3 3.4 5.3 13.2 2.5 10.7 100.0 4.3 84.9 10.8 3.3 2.8 10.3 2.3 8.0 100.0 2.1 92.2 5.7 1.0 0.5 5.2 1.0 4.2 (percent of net sales) 100.0 2.0 90.5 7.5 1.0 0.3 6.8 1.3 5.6 (percent) 100.0 2.3 96.5 1.2 1.3 0.5 0.3 0.8 (0.5) 100.0 2.2 88.6 9.1 1.2 (0.2) 7.7 1.4 6.4 100.0 2.2 92.0 5.8 1.1 0.8 5.5 1.2 4.3 32.72 29.37 13.29 11.93 38.04 32.69 15.00 12.89 26.44 22.77 10.48 9.02 33.78 31.23 13.88 12.83 30.85 27.71 12.76 11.46 27.48 22.31 10.11 8.20 25.02 20.00 8.84 7.06 17.15 16.05 6.09 5.69 27.11 22.06 9.43 7.67 22.48 17.41 7.61 5.90 21.47 17.51 10.08 8.22 29.47 23.99 14.19 11.55 1.37 (2.14) 0.61 (0.96) 32.55 26.86 14.68 12.11 20.95 16.32 10.48 8.16 1.83 0.45 1.16 1.82 0.41 1.12 1.78 0.43 1.11 1.84 0.48 1.24 1.79 0.47 1.22 1.12 0.15 1.22 1.10 0.15 1.12 1.14 0.15 1.13 1.13 0.14 1.09 1.07 0.14 1.09 1.96 0.42 1.86 2.01 0.47 1.89 1.89 0.32 1.58 1.93 0.33 1.62 1.97 0.34 2.10 15 U.S. Census Bureau TABLE 4.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 27 AND 28 Printing and Publishing1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 5,712 439 6,151 2,648 8,799 27,517 10,509 8,530 55,355 83,753 2,235 46,536 39,452 84,781 179,588 6,603 539 7,142 3,079 10,222 30,232 10,782 8,799 60,035 83,890 2,255 46,711 39,434 87,799 187,267 6,923 929 7,852 3,196 11,048 29,632 9,835 8,863 59,378 86,046 2,188 47,448 40,787 91,274 191,439 7,601 678 8,279 3,921 12,200 28,658 10,014 8,858 59,730 86,662 2,049 47,829 40,882 95,169 195,781 7,115 758 7,873 4,859 12,733 27,974 10,312 9,370 60,389 86,989 2,299 48,087 41,200 96,551 198,140 3,516 2,619 12,719 1,253 1,670 2,477 17,247 41,500 18,828 30,317 26,425 117,070 21,395 41,123 62,518 179,588 3,920 3,095 13,486 1,482 1,739 2,357 18,672 44,752 20,290 31,669 26,569 123,280 21,189 42,799 63,988 187,267 4,254 2,220 13,542 1,507 1,454 2,315 18,674 43,966 20,551 33,042 27,343 124,903 22,516 44,020 66,536 191,439 3,579 3,010 12,964 1,312 1,661 2,241 18,910 43,676 21,478 34,129 27,156 126,440 21,828 47,513 69,341 195,781 3,702 2,884 12,397 1,100 1,739 2,559 18,658 43,038 20,949 34,659 28,510 127,156 22,219 48,765 70,984 198,140 13,855 15,283 15,412 16,054 17,351 (percent of total assets) 4.9 15.3 5.9 30.8 22.0 5.7 23.1 27.4 65.2 34.8 5.5 16.1 5.8 32.1 21.1 5.9 23.9 27.7 65.8 34.2 5.8 15.5 5.1 31.0 21.3 5.4 23.0 28.0 65.2 34.8 6.2 14.6 5.1 30.5 20.9 5.4 22.3 28.4 64.6 35.4 6.4 14.1 5.2 30.5 20.8 5.5 21.7 28.1 64.2 35.8 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 16 U.S. Census Bureau Printing and Publishing Assets Under $25 Million 2Q 1998 3Q 1998 4Q 1998 1Q 19992 2Q 1999 2Q 1998 Chemicals and Allied Products1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Chemicals and Allied Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 19992 2Q 1999 (million dollars) 2,447 347 2,795 742 3,537 7,229 2,663 1,028 14,456 22,389 332 13,986 8,734 2,443 25,634 2,392 348 2,740 716 3,456 7,982 2,744 1,088 15,270 21,075 216 13,224 8,067 2,277 25,615 2,323 311 2,634 841 3,476 7,173 2,604 1,039 14,292 21,900 362 13,576 8,686 2,661 25,639 2,588 550 3,138 756 3,894 7,231 2,693 1,076 14,894 22,049 226 13,421 8,853 2,087 25,835 2,579 614 3,193 599 3,792 6,780 2,831 1,049 14,452 21,377 303 13,156 8,524 1,897 24,874 11,043 1,608 12,650 9,138 21,788 59,412 49,935 33,027 164,162 300,254 9,792 148,371 161,676 252,382 578,220 (million dollars) 11,905 1,629 13,534 9,131 22,665 59,884 50,789 33,845 167,183 307,544 10,609 151,074 167,078 261,929 596,190 8,702 1,454 10,156 11,762 21,918 56,621 49,872 36,609 165,019 310,301 10,728 150,492 170,537 267,808 603,364 8,219 1,307 9,526 12,091 21,617 61,032 52,129 37,197 171,975 315,869 10,411 154,232 172,048 282,023 626,046 7,960 1,295 9,254 12,654 21,908 62,043 51,781 35,441 171,173 321,716 10,609 157,246 175,079 291,758 638,010 889 267 1,156 536 1,692 3,134 2,667 384 7,877 6,417 165 3,578 3,003 936 11,816 (million dollars) 920 338 1,258 517 1,775 3,069 2,370 377 7,591 6,343 167 3,469 3,041 829 11,461 667 209 876 326 1,202 2,933 2,551 382 7,068 6,938 154 3,816 3,277 724 11,068 954 135 1,089 362 1,451 3,572 2,838 506 8,367 6,709 148 3,683 3,174 818 12,359 933 186 1,119 318 1,437 3,464 2,847 476 8,224 7,094 265 3,943 3,416 784 12,424 1,314 220 3,377 93 721 375 1,790 7,890 2,986 3,372 976 15,224 1,522 8,889 10,411 25,634 1,470 165 3,552 145 661 506 1,908 8,407 2,725 3,493 889 15,515 1,654 8,446 10,100 25,615 1,399 153 3,322 125 655 471 1,899 8,025 2,762 3,721 970 15,479 1,384 8,777 10,161 25,639 1,254 219 3,140 116 769 386 2,227 8,111 2,949 2,993 1,169 15,221 895 9,718 10,613 25,835 1,386 206 3,105 88 833 421 2,057 8,096 3,107 2,455 931 14,589 1,060 9,224 10,285 24,874 7,937 29,697 35,974 7,314 2,289 6,172 56,589 145,972 36,116 92,645 90,824 365,557 66,962 145,701 212,663 578,220 7,937 33,478 35,695 7,801 3,656 5,659 58,427 152,654 41,717 95,478 95,713 385,561 62,844 147,785 210,629 596,190 7,778 26,319 34,934 6,451 4,443 6,444 58,698 145,067 46,035 98,579 99,579 389,260 67,821 146,283 214,104 603,364 8,719 33,383 35,807 7,459 5,037 5,736 55,728 151,869 47,154 100,522 108,863 408,408 67,147 150,492 217,639 626,046 9,198 27,851 35,954 7,521 3,466 6,992 68,722 159,703 45,856 105,457 110,903 421,919 66,737 149,353 216,091 638,010 659 226 1,775 59 249 85 961 4,014 1,189 573 490 6,266 3,271 2,279 5,550 11,816 719 196 1,711 63 182 35 876 3,782 1,058 722 381 5,944 2,783 2,735 5,517 11,461 611 269 1,729 32 271 42 792 3,746 1,246 704 419 6,116 2,513 2,440 4,953 11,068 892 245 2,062 56 272 36 771 4,335 1,192 794 464 6,785 3,072 2,502 5,574 12,359 858 142 2,112 60 215 41 741 4,169 963 739 338 6,210 2,129 4,086 6,215 12,424 6,567 6,863 6,268 6,783 6,356 18,190 14,530 19,952 20,106 11,470 3,863 3,809 3,322 4,032 4,055 (percent of total assets) (percent of total assets) (percent of total assets) 13.8 28.2 10.4 56.4 34.1 10.3 30.8 24.8 59.4 40.6 13.5 31.2 10.7 59.6 31.5 10.9 32.8 24.3 60.6 39.4 13.6 28.0 10.2 55.7 33.9 10.4 31.3 25.3 60.4 39.6 15.1 28.0 10.4 57.7 34.3 10.2 31.4 23.0 58.9 41.1 15.2 27.3 11.4 58.1 34.3 11.4 32.5 22.4 58.7 41.3 3.8 10.3 8.6 28.4 28.0 8.0 25.2 22.3 63.2 36.8 3.8 10.0 8.5 28.0 28.0 8.5 25.6 23.0 64.7 35.3 3.6 9.4 8.3 27.3 28.3 7.5 24.0 24.0 64.5 35.5 3.5 9.7 8.3 27.5 27.5 8.4 24.3 23.6 65.2 34.8 3.4 9.7 8.1 26.8 27.4 7.4 25.0 23.7 66.1 33.9 14.3 26.5 22.6 66.7 25.4 10.3 34.0 14.9 53.0 47.0 15.5 26.8 20.7 66.2 26.5 9.9 33.0 15.5 51.9 48.1 10.9 26.5 23.0 63.9 29.6 10.8 33.8 17.6 55.3 44.7 11.7 28.9 23.0 67.7 25.7 11.7 35.1 16.1 54.9 45.1 11.6 27.9 22.9 66.2 27.5 10.1 33.6 13.7 50.0 50.0 17 U.S. Census Bureau TABLE 5.0—INCOME STATEMENT FOR CORPORATIONS IN SIC INDUSTRY GROUPS 281, 2, 6, AND 283 Industrial Chemicals and Synthetics1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 5.8 85.0 9.2 3.6 5.0 10.5 3.3 7.2 100.0 6.2 84.8 9.1 5.2 0.4 4.3 0.7 3.6 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Chemicals and Allied Products. 2 Prior quarters’ data are revised to reflect additional 3 2 4Q 1998 1Q 1999 2Q 1999 37,763 2,204 32,102 3,458 1,375 1,881 3,963 1,259 2,704 1,098 1,606 36,810 (76) 38,340 37,223 2,297 31,554 3,373 1,938 161 1,595 273 1,323 997 326 38,665 (1,100) 37,891 36,420 2,485 31,874 2,062 1,594 1,109 1,576 611 965 1,055 (90) 37,712 (37) 37,585 35,965 2,236 30,515 3,215 1,500 952 2,666 797 1,870 933 937 38,527 (245) 39,219 38,452 2,282 32,788 3,381 1,571 1,783 3,593 1,007 2,586 977 1,608 38,352 (282) 39,678 (percent of net sales) 100.0 6.8 87.5 5.7 4.4 3.0 4.3 1.7 2.6 100.0 6.2 84.8 8.9 4.2 2.6 7.4 2.2 5.2 100.0 5.9 85.3 8.8 4.1 4.6 9.3 2.6 6.7 24.18 16.50 7.38 5.04 9.83 8.15 2.81 2.33 9.81 6.01 2.85 1.74 16.33 11.45 4.59 3.22 21.63 15.57 5.91 4.25 1.10 0.12 0.88 1.02 0.09 0.78 1.06 0.09 0.82 1.06 0.09 0.80 0.99 0.08 0.81 information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 18 U.S. Census Bureau Industrial Chemicals and Synthetics Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 3Q 1998 Drugs1 2 Drugs Assets Under $25 Million1 1Q 1999 2Q 1999 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 4Q 1998 (million dollars) 1,173 28 992 153 14 6 145 22 123 39 85 922 (22) 985 1,104 28 931 145 11 7 140 24 116 34 82 1,125 2 1,209 1,000 32 942 26 17 6 14 4 10 49 (39) 1,109 9 1,080 1,283 33 1,066 184 13 3 175 23 152 43 108 1,428 (4) 1,532 1,228 35 1,094 98 12 27 113 15 99 62 37 1,679 (17) 1,699 34,456 1,178 30,142 3,136 1,068 3,493 5,560 227 5,333 3,601 1,732 53,761 (1,111) 54,382 (million dollars) 35,053 1,177 30,068 3,807 1,119 3,937 6,626 962 5,664 3,362 2,302 53,250 (1,014) 54,537 39,022 1,190 33,574 4,258 1,242 2,994 6,010 (489) 6,500 4,169 2,331 54,821 (447) 56,705 38,477 1,289 31,986 5,202 1,318 3,083 6,967 690 6,277 1,454 4,823 57,136 (3,225) 58,734 39,817 1,323 33,518 4,976 1,251 81 3,806 396 3,411 1,799 1,611 59,768 (3,778) 57,601 726 26 699 2 9 1 (5) (6) 0 49 (48) (261) (6) (315) (million dollars) 609 23 535 51 7 (3) 41 11 30 12 18 (393) (18) (393) 685 21 646 17 9 (3) 6 9 (3) 25 (28) (116) 12 (131) 742 31 672 39 7 0 33 13 19 11 9 (242) (21) (255) 787 29 728 30 9 17 38 17 22 46 (24) (37) (2) (63) (percent of net sales) 100.0 2.4 84.6 13.0 1.2 0.5 12.3 1.8 10.5 100.0 2.6 84.3 13.1 1.0 0.6 12.7 2.2 10.5 (percent) 100.0 3.2 94.2 2.6 1.7 0.6 1.4 0.4 1.0 100.0 2.6 83.1 14.4 1.0 0.3 13.6 1.8 11.8 100.0 2.9 89.1 8.0 1.0 2.2 9.2 1.2 8.0 100.0 3.4 87.5 9.1 3.1 10.1 16.1 0.7 15.5 (percent of net sales) 100.0 3.4 85.8 10.9 3.2 11.2 18.9 2.7 16.2 (percent) 100.0 3.1 86.0 10.9 3.2 7.7 15.4 (1.3) 16.7 100.0 3.4 83.1 13.5 3.4 8.0 18.1 1.8 16.3 100.0 3.3 84.2 12.5 3.1 0.2 9.6 1.0 8.6 100.0 3.5 96.2 0.3 1.2 0.2 (0.8) (0.8) 0.1 (percent of net sales) 100.0 3.8 87.8 8.4 1.1 (0.6) 6.7 1.8 5.0 (percent) 100.0 3.1 94.4 2.5 1.3 (0.4) 0.8 1.3 (0.4) 100.0 4.1 90.6 5.3 0.9 0.0 4.4 1.8 2.6 100.0 3.7 92.5 3.8 1.1 2.2 4.9 2.1 2.7 40.73 34.67 23.51 20.02 35.82 29.63 21.54 17.81 4.44 3.10 2.69 1.88 38.35 33.30 23.27 20.20 24.58 21.34 15.41 13.37 28.46 27.30 11.33 10.87 35.25 30.13 13.40 11.46 29.98 32.42 11.77 12.73 34.23 30.84 13.27 11.95 18.97 17.00 7.16 6.41 (2.39) 0.20 (1.01) 0.09 21.29 15.70 9.57 7.06 3.12 (1.69) 1.38 (0.75) 15.29 9.13 7.69 4.59 13.56 7.64 7.44 4.19 2.76 0.72 2.45 2.53 0.72 3.15 2.71 0.42 2.75 2.63 0.76 3.23 2.61 0.67 3.35 1.03 0.15 1.54 1.05 0.18 1.45 1.16 0.23 1.50 1.13 0.20 1.42 1.08 0.21 1.40 1.83 0.63 1.51 1.79 0.68 1.66 2.30 0.67 1.74 2.30 0.68 2.51 2.13 0.56 2.54 19 U.S. Census Bureau TABLE 5.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC INDUSTRY GROUPS 281, 2, 6, AND 283 Industrial Chemicals and Synthetics1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Chemicals and Allied Products. 2 Prior quarters’ data are revised to reflect additional 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 3,181 666 3,847 2,541 6,388 22,456 18,083 9,214 56,141 163,726 5,108 87,152 81,681 76,865 214,688 2,370 421 2,791 2,221 5,012 22,945 18,916 10,283 57,156 171,037 5,909 88,949 87,998 81,619 226,772 1,867 381 2,248 2,321 4,568 19,844 17,092 10,645 52,150 168,766 6,032 87,322 87,477 81,829 221,456 2,539 307 2,846 1,865 4,712 22,476 17,399 8,663 53,250 171,128 6,127 89,136 88,119 91,009 232,378 2,539 424 2,964 1,444 4,408 21,899 17,548 8,295 52,150 173,879 6,230 90,938 89,171 101,967 243,287 2,348 11,958 14,085 1,938 740 2,754 17,392 51,215 17,933 38,420 41,576 149,145 27,204 38,340 65,543 214,688 2,597 14,813 13,786 2,052 2,203 2,547 18,046 56,045 22,912 38,310 44,563 161,830 27,051 37,891 64,943 226,772 2,361 8,464 13,222 2,522 2,985 2,616 17,061 49,231 24,175 37,562 46,226 157,195 26,676 37,585 64,261 221,456 2,548 11,339 13,943 2,388 3,620 1,610 14,943 50,390 24,462 38,097 54,133 167,082 26,078 39,219 65,296 232,378 2,362 6,455 14,140 2,267 1,974 1,733 23,622 52,554 23,390 45,757 55,155 176,855 26,755 39,678 66,432 243,287 4,926 1,111 2,919 2,860 (404) (percent of total assets) 3.0 10.5 8.4 26.2 38.0 8.3 23.9 26.2 69.5 30.5 2.2 10.1 8.3 25.2 38.8 9.8 24.7 27.0 71.4 28.6 2.1 9.0 7.7 23.5 39.5 7.4 22.2 27.9 71.0 29.0 2.0 9.7 7.5 22.9 37.9 8.2 21.7 26.9 71.9 28.1 1.8 9.0 7.2 21.4 36.7 5.1 21.6 28.4 72.7 27.3 information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 20 U.S. Census Bureau Industrial Chemicals and Synthetics Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 3Q 1998 Drugs1 2 Drugs Assets Under $25 Million1 1Q 1999 2Q 1999 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 4Q 1998 (million dollars) 202 27 228 144 373 577 426 59 1,435 1,438 25 681 782 246 2,463 248 32 280 162 442 622 404 87 1,554 1,541 29 729 842 202 2,598 127 29 156 21 177 550 392 29 1,148 1,630 15 765 880 105 2,133 340 37 377 159 536 725 526 73 1,859 1,933 19 938 1,014 134 3,006 287 73 360 101 461 635 621 66 1,784 1,785 81 860 1,005 158 2,946 2,563 362 2,926 5,125 8,051 17,746 15,379 15,469 56,646 63,962 1,352 25,979 39,336 100,330 196,311 (million dollars) 4,054 358 4,412 5,400 9,812 17,340 15,192 15,435 57,779 64,025 1,362 26,295 39,092 100,840 197,712 3,876 340 4,216 8,109 12,326 18,390 15,776 16,145 62,637 66,777 1,378 27,185 40,970 100,658 204,265 2,808 522 3,330 8,282 11,612 18,153 16,431 18,169 64,365 68,095 1,283 28,211 41,167 104,510 210,042 3,104 444 3,548 9,385 12,933 19,037 17,139 17,484 66,593 70,901 1,359 29,170 43,089 103,018 212,700 273 86 359 79 438 456 329 48 1,271 1,133 49 484 697 196 2,164 (million dollars) 227 86 314 55 368 336 222 51 976 1,050 38 466 621 114 1,711 155 30 185 120 305 336 354 57 1,052 939 16 467 488 69 1,609 193 55 248 69 317 336 357 61 1,071 963 15 448 530 89 1,691 186 68 254 59 313 346 469 64 1,192 1,407 17 684 740 132 2,063 60 9 290 23 28 9 102 520 329 147 45 1,041 437 985 1,422 2,463 63 4 310 34 33 8 163 615 322 66 33 1,036 353 1,209 1,562 2,598 13 23 261 5 33 7 81 424 299 94 26 842 212 1,080 1,291 2,133 43 35 452 14 37 13 111 706 321 116 40 1,183 291 1,532 1,824 3,006 87 36 404 (2) 39 8 112 684 261 120 34 1,099 148 1,699 1,847 2,946 3,179 9,425 11,091 2,896 459 1,920 25,780 54,749 7,168 28,517 27,720 118,155 23,774 54,382 78,156 196,311 3,209 8,933 10,794 2,674 436 1,925 26,925 54,896 7,283 29,999 30,342 122,520 20,654 54,537 75,191 197,712 3,472 8,051 10,544 1,992 521 2,667 26,818 54,065 9,894 28,768 31,345 124,071 23,488 56,705 80,194 204,265 3,496 10,658 10,085 2,842 482 2,539 26,901 57,003 10,282 29,690 31,643 128,618 22,689 58,734 81,424 210,042 4,972 10,084 9,668 2,755 594 3,495 30,175 61,743 10,073 28,087 32,543 132,445 22,655 57,601 80,255 212,700 229 0 222 14 47 3 178 693 226 103 225 1,247 1,232 (315) 917 2,164 207 1 153 6 11 2 164 544 147 95 155 942 1,162 (393) 769 1,711 72 1 211 5 45 11 112 458 157 124 157 896 844 (131) 713 1,609 75 2 227 12 33 14 102 466 167 48 160 840 1,105 (255) 850 1,691 134 5 279 15 37 19 70 560 185 65 123 932 1,195 (63) 1,131 2,063 915 939 725 1,153 1,100 1,896 2,883 8,572 7,361 4,850 577 432 594 606 632 (percent of total assets) (percent of total assets) (percent of total assets) 15.1 23.4 17.3 58.3 31.7 4.3 21.1 19.3 42.3 57.7 17.0 23.9 15.5 59.8 32.4 4.2 23.7 14.9 39.9 60.1 8.3 25.8 18.4 53.8 41.2 3.6 19.9 18.4 39.5 60.5 17.8 24.1 17.5 61.8 33.7 4.3 23.5 14.5 39.3 60.7 15.6 21.6 21.1 60.5 34.1 5.8 23.2 12.9 37.3 62.7 4.1 9.0 7.8 28.9 20.0 7.6 27.9 18.2 60.2 39.8 5.0 8.8 7.7 29.2 19.8 7.3 27.8 18.9 62.0 38.0 6.0 9.0 7.7 30.7 20.1 7.2 26.5 18.9 60.7 39.3 5.5 8.6 7.8 30.6 19.6 8.2 27.1 19.0 61.2 38.8 6.1 9.0 8.1 31.3 20.3 9.0 29.0 17.9 62.3 37.7 20.2 21.1 15.2 58.7 32.2 12.9 32.0 15.2 57.6 42.4 21.5 19.6 13.0 57.1 36.3 12.9 31.8 14.1 55.0 45.0 19.0 20.9 22.0 65.4 30.3 8.0 28.5 17.5 55.7 44.3 18.8 19.9 21.1 63.4 31.4 7.3 27.5 12.7 49.7 50.3 15.1 16.8 22.7 57.8 35.9 9.5 27.1 12.1 45.2 54.8 21 U.S. Census Bureau TABLE 6.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 284, 5, 7, 9, and 29 Residual of Chemicals1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.2 85.6 11.2 2.2 4.8 13.7 3.4 10.3 100.0 3.3 85.4 11.3 2.0 4.5 13.8 3.9 9.8 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Chemicals and Allied Products. 2 Prior quarters’ data are revised to reflect additional 3 2 4Q 1998 1Q 1999 2Q 1999 37,109 1,199 31,757 4,152 833 1,767 5,087 1,264 3,823 1,471 2,351 51,305 (678) 52,979 36,004 1,197 30,745 4,062 721 1,615 4,956 1,413 3,542 1,339 2,203 53,981 (827) 55,357 35,582 1,232 30,963 3,388 1,023 (771) 1,595 470 1,125 1,524 (400) 52,703 (311) 51,993 37,363 1,255 31,902 4,205 983 1,895 5,118 1,264 3,854 1,416 2,438 51,054 (953) 52,539 39,165 1,432 33,351 4,382 1,060 1,425 4,747 1,337 3,410 3,387 23 53,183 (1,131) 52,075 (percent of net sales) 100.0 3.5 87.0 9.5 2.9 (2.2) 4.5 1.3 3.2 100.0 3.4 85.4 11.3 2.6 5.1 13.7 3.4 10.3 100.0 3.7 85.2 11.2 2.7 3.6 12.1 3.4 8.7 29.50 22.17 12.17 9.14 28.12 20.10 11.54 8.25 9.16 6.46 3.59 2.53 28.87 21.74 11.15 8.40 27.36 19.65 10.43 7.49 1.28 0.18 1.38 1.25 0.19 1.34 1.20 0.12 1.20 1.22 0.12 1.15 1.15 0.10 1.16 information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 22 U.S. Census Bureau Residual of Chemicals Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 2Q 1998 Petroleum and Coal Products2 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Petroleum and Coal Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 3,849 66 3,609 174 37 22 159 39 119 107 12 1,628 (31) 1,609 4,249 71 3,927 251 42 16 226 41 185 94 91 1,817 11 1,919 3,749 72 3,658 19 44 22 (3) 30 (33) 33 (66) 1,505 53 1,491 3,848 68 3,469 311 51 (14) 246 43 203 95 108 1,190 (74) 1,225 3,934 68 3,650 217 46 3 174 40 133 95 38 2,367 45 2,450 65,790 3,709 57,595 4,485 1,410 1,514 4,589 1,482 3,107 3,451 (344) 126,778 (430) 126,003 (million dollars) 62,700 3,615 55,410 3,675 1,589 3,723 5,809 930 4,879 3,375 1,505 125,972 (288) 127,189 59,559 3,891 55,840 (172) 1,429 (4,314) (5,915) (2,337) (3,578) 3,571 (7,149) 127,155 139 120,145 54,293 3,394 49,501 1,398 1,470 2,314 2,242 261 1,980 3,713 (1,733) 119,164 170 117,601 69,497 3,311 62,187 3,998 1,544 2,674 5,128 1,148 3,980 2,981 999 118,032 (39) 118,993 361 10 331 20 5 2 18 0 17 0 17 118 (3) 131 (million dollars) 402 7 356 39 2 (1) 36 5 31 2 29 151 (3) 178 573 13 530 29 3 2 29 2 27 9 18 449 1 469 381 4 360 17 3 (1) 13 1 12 2 10 191 (7) 194 630 12 573 45 4 (8) 33 3 30 38 (9) 360 5 357 (percent of net sales) 100.0 1.7 93.8 4.5 1.0 0.6 4.1 1.0 3.1 100.0 1.7 92.4 5.9 1.0 0.4 5.3 1.0 4.4 (percent) 100.0 1.9 97.6 0.5 1.2 0.6 (0.1) 0.8 (0.9) 100.0 1.8 90.1 8.1 1.3 (0.4) 6.4 1.1 5.3 100.0 1.7 92.8 5.5 1.2 0.1 4.4 1.0 3.4 100.0 5.6 87.5 6.8 2.1 2.3 7.0 2.3 4.7 (percent of net sales) 100.0 5.8 88.4 5.9 2.5 5.9 9.3 1.5 7.8 (percent) 100.0 6.5 93.8 (0.3) 2.4 (7.2) (9.9) (3.9) (6.0) 100.0 6.3 91.2 2.6 2.7 4.3 4.1 0.5 3.6 100.0 4.8 89.5 5.8 2.2 3.8 7.4 1.7 5.7 100.0 2.7 91.8 5.5 1.2 0.7 4.9 0.1 4.8 (percent of net sales) 100.0 1.6 88.7 9.7 0.5 (0.3) 8.9 1.2 7.7 (percent) 100.0 2.2 92.6 5.1 0.6 0.4 5.0 0.3 4.7 100.0 1.0 94.5 4.4 0.8 (0.3) 3.3 0.1 3.2 100.0 1.9 91.0 7.1 0.6 (1.3) 5.2 0.5 4.7 19.76 14.85 8.82 6.63 28.33 23.22 12.62 10.35 (0.40) (4.53) (0.16) (1.83) 33.97 28.00 12.86 10.60 21.47 16.49 9.37 7.20 11.87 8.04 5.35 3.62 15.08 12.67 6.78 5.69 (16.05) (9.71) (7.03) (4.25) 6.16 5.45 2.67 2.35 13.89 10.78 5.98 4.64 35.17 34.42 10.77 10.54 57.14 49.17 27.26 23.46 22.15 20.83 11.99 11.27 22.72 21.71 7.89 7.54 34.32 30.74 15.09 13.51 1.85 0.31 1.79 1.93 0.37 1.63 1.70 0.25 1.30 1.72 0.19 1.15 1.79 0.23 1.65 0.81 0.06 2.01 0.83 0.08 2.13 0.76 0.05 1.91 0.75 0.05 1.82 0.78 0.05 1.85 1.11 0.21 1.07 1.67 0.17 2.30 2.06 0.41 2.53 1.45 0.20 1.24 1.54 0.18 1.67 23 U.S. Census Bureau TABLE 6.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 284, 5, 7, 9, AND 29 Residual of Chemicals1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Chemicals and Allied Products. 2 Prior quarters’ data are revised to reflect additional 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 5,299 579 5,877 1,472 7,349 19,209 16,472 8,344 51,375 72,566 3,333 35,240 40,660 75,187 167,221 5,481 850 6,332 1,509 7,841 19,600 16,680 8,127 52,248 72,481 3,338 35,831 39,988 79,470 171,706 2,959 733 3,692 1,332 5,024 18,386 17,004 9,819 50,233 74,758 3,318 35,986 42,090 85,321 177,643 2,872 478 3,350 1,944 5,294 20,403 18,299 10,365 54,360 76,646 3,001 36,885 42,762 86,504 183,626 2,316 427 2,743 1,825 4,568 21,106 17,094 9,662 52,431 76,936 3,020 37,138 42,819 86,773 182,022 2,410 8,314 10,798 2,480 1,090 1,498 13,417 40,007 11,014 25,708 21,528 98,258 15,985 52,979 68,964 167,221 2,131 9,731 11,115 3,076 1,017 1,187 13,456 41,713 11,522 27,168 20,808 101,211 15,138 55,357 70,495 171,706 1,945 9,804 11,168 1,937 937 1,161 14,819 41,772 11,966 32,248 22,008 107,994 17,657 51,993 69,650 177,643 2,674 11,387 11,779 2,230 935 1,586 13,884 44,476 12,410 32,735 23,087 112,707 18,380 52,539 70,919 183,626 1,864 11,311 12,145 2,499 898 1,764 14,925 45,406 12,394 31,614 23,205 112,619 17,328 52,075 69,403 182,022 11,368 10,536 8,462 9,885 7,024 (percent of total assets) 4.4 11.5 9.9 30.7 24.3 8.0 23.9 22.0 58.8 41.2 4.6 11.4 9.7 30.4 23.3 8.2 24.3 22.5 58.9 41.1 2.8 10.3 9.6 28.3 23.7 7.8 23.5 24.9 60.8 39.2 2.9 11.1 10.0 29.6 23.3 9.0 24.2 24.6 61.4 38.6 2.5 11.6 9.4 28.8 23.5 8.7 24.9 24.2 61.9 38.1 information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 24 U.S. Census Bureau Residual of Chemicals Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 2Q 1998 Petroleum and Coal Products2 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Petroleum and Coal Products Assets Under $25 Million 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 414 155 568 313 881 2,101 1,911 277 5,171 3,847 91 2,413 1,525 493 7,189 445 219 664 301 965 2,111 1,745 239 5,060 3,752 100 2,274 1,578 513 7,151 385 150 535 185 720 2,047 1,805 295 4,867 4,370 123 2,584 1,909 550 7,326 421 43 464 134 598 2,511 1,955 373 5,437 3,813 114 2,296 1,630 595 7,662 460 45 505 159 663 2,483 1,757 345 5,249 3,902 168 2,399 1,671 495 7,414 2,446 763 3,209 1,004 4,213 23,627 16,754 8,953 53,546 306,575 40,643 185,493 161,725 128,001 343,273 (million dollars) 2,583 1,502 4,084 1,170 5,254 23,580 15,882 8,703 53,419 305,103 40,262 185,283 160,082 129,200 342,701 2,012 598 2,610 647 3,257 22,192 14,532 8,527 48,508 303,737 39,333 184,029 159,040 128,796 336,344 1,874 737 2,611 655 3,266 22,216 14,957 9,059 49,498 302,125 40,059 183,631 158,553 128,374 336,425 2,246 463 2,710 600 3,309 25,933 15,518 8,829 53,589 302,281 39,743 183,578 158,446 130,709 342,744 53 0 53 15 68 209 54 33 364 541 12 321 232 63 658 (million dollars) 32 0 32 0 32 196 59 28 315 408 13 290 131 79 525 71 2 73 43 117 297 102 77 593 755 22 522 256 107 956 51 3 54 5 59 244 105 16 424 306 15 191 130 84 639 46 17 63 0 63 325 118 26 533 600 19 383 236 107 876 369 217 1,264 22 174 73 681 2,800 634 324 221 3,978 1,602 1,609 3,211 7,189 449 190 1,247 23 137 26 549 2,623 589 562 193 3,965 1,267 1,919 3,186 7,151 527 244 1,257 22 194 23 598 2,864 790 486 236 4,377 1,457 1,491 2,949 7,326 773 207 1,384 30 202 9 558 3,164 704 631 263 4,762 1,675 1,225 2,900 7,662 637 101 1,428 47 139 13 559 2,925 518 554 181 4,178 786 2,450 3,236 7,414 1,202 17,091 21,565 3,760 962 4,217 17,551 66,349 6,886 46,722 68,708 188,665 28,605 126,003 154,608 343,273 970 11,758 21,638 5,667 1,067 3,708 19,774 64,582 7,018 47,922 69,100 188,622 26,891 127,189 154,080 342,701 1,025 15,511 21,824 3,184 864 3,881 17,787 64,077 7,055 49,039 68,731 188,901 27,298 120,145 147,443 336,344 1,108 17,810 21,384 3,364 874 3,799 17,637 65,976 7,036 49,103 68,842 190,956 27,868 117,601 145,469 336,425 2,618 15,295 23,603 4,257 641 3,705 18,817 68,935 6,734 50,958 68,401 195,028 28,724 118,993 147,717 342,744 40 30 151 0 15 5 87 328 61 38 30 457 70 131 202 658 31 0 118 4 4 1 29 188 61 11 14 275 73 178 251 525 36 24 167 10 20 4 26 288 92 28 31 439 49 469 517 956 28 42 130 4 2 8 77 292 23 76 26 417 28 194 222 639 68 34 152 5 22 5 60 345 64 38 44 491 28 357 385 876 2,371 2,438 2,002 2,273 2,323 (12,803) (11,163) (15,569) (16,478) (15,346) 36 127 305 132 188 (percent of total assets) (percent of total assets) (percent of total assets) 12.3 29.2 26.6 71.9 21.2 11.6 38.9 13.3 55.3 44.7 13.5 29.5 24.4 70.8 22.1 11.2 36.7 16.1 55.4 44.6 9.8 27.9 24.6 66.4 26.1 13.5 39.1 17.4 59.7 40.3 7.8 32.8 25.5 71.0 21.3 15.5 41.3 17.4 62.2 37.8 8.9 33.5 23.7 70.8 22.5 12.0 39.5 14.5 56.4 43.6 1.2 6.9 4.9 15.6 47.1 6.8 19.3 15.6 55.0 45.0 1.5 6.9 4.6 15.6 46.7 5.1 18.8 16.0 55.0 45.0 1.0 6.6 4.3 14.4 47.3 6.3 19.1 16.7 56.2 43.8 1.0 6.6 4.4 14.7 47.1 7.0 19.6 16.7 56.8 43.2 1.0 7.6 4.5 15.6 46.2 6.5 20.1 16.8 56.9 43.1 10.4 31.7 8.1 55.3 35.2 13.7 49.8 15.0 69.4 30.6 6.2 37.2 11.3 60.0 25.0 6.9 35.8 13.7 52.3 47.7 12.2 31.1 10.7 62.0 26.8 8.8 30.1 12.6 45.9 54.1 9.2 38.3 16.4 66.4 20.4 12.5 45.8 15.5 65.3 34.7 7.2 37.2 13.5 60.9 27.0 14.7 39.4 11.6 56.0 44.0 25 U.S. Census Bureau TABLE 7.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 30 AND ALL DURABLE MANUFACTURING INDUSTRIES Rubber and Misc. Plastics Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.7 87.6 8.7 2.1 1.1 7.7 1.9 5.9 100.0 3.7 89.0 7.3 2.1 (0.7) 4.6 1.3 3.4 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 32,124 1,192 28,135 2,797 676 359 2,480 597 1,883 1,066 817 17,919 (217) 18,519 31,496 1,167 28,022 2,308 647 (205) 1,455 400 1,055 324 731 17,236 (34) 17,933 29,590 1,159 26,654 1,776 621 102 1,258 276 982 423 559 18,713 (110) 19,162 28,413 1,133 25,332 1,948 608 305 1,646 398 1,247 513 734 12,743 (94) 13,383 30,319 1,175 26,873 2,271 645 337 1,963 480 1,482 537 945 12,746 (174) 13,517 (percent of net sales) 100.0 3.9 90.1 6.0 2.1 0.3 4.3 0.9 3.3 100.0 4.0 89.2 6.9 2.1 1.1 5.8 1.4 4.4 100.0 3.9 88.6 7.5 2.1 1.1 6.5 1.6 4.9 28.24 21.44 10.34 7.85 17.32 12.56 6.15 4.46 14.46 11.29 5.37 4.19 19.19 14.55 7.08 5.37 23.06 17.41 8.45 6.38 1.51 0.14 1.11 1.52 0.16 1.04 1.55 0.18 1.11 1.53 0.18 1.10 1.54 0.16 1.07 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 26 U.S. Census Bureau Rubber and Misc. Plastics Products Assets Under $25 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 All Durable Manufacturing Industries1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 All Durable Manufacturing Industries Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 9,842 290 8,665 887 132 28 782 113 669 320 349 6,620 (34) 6,935 9,949 315 8,923 712 143 (46) 523 79 444 139 304 6,343 (56) 6,592 8,657 318 7,890 449 137 (3) 309 12 297 210 87 6,560 (196) 6,450 8,698 306 7,786 606 132 87 560 88 473 258 214 2,647 (111) 2,750 9,818 335 8,743 740 141 26 625 109 516 229 287 2,404 (21) 2,671 547,388 19,140 488,841 39,406 8,654 6,428 37,180 11,406 25,774 10,877 14,896 461,164 (2,900) 473,161 (million dollars) 537,036 19,534 481,455 36,048 9,094 12,472 39,426 11,334 28,092 10,886 17,206 467,556 (3,164) 481,598 564,473 20,182 506,608 37,683 9,171 13,251 41,763 12,565 29,198 11,800 17,398 475,191 (7,878) 484,711 539,418 19,432 483,720 36,266 9,072 20,200 47,394 13,848 33,546 10,996 22,549 480,567 (4,074) 499,043 576,688 20,251 508,788 47,649 9,747 16,836 54,737 15,118 39,619 10,746 28,873 496,066 (9,211) 515,729 86,086 2,065 76,938 7,082 976 27 6,134 882 5,252 3,077 2,175 54,956 (165) 56,965 (million dollars) 84,803 2,142 76,194 6,467 1,043 22 5,446 798 4,648 2,148 2,500 55,267 (37) 57,731 82,382 2,152 77,528 2,701 1,090 (39) 1,572 595 976 2,382 (1,406) 53,228 (489) 51,333 79,988 2,079 71,924 5,984 1,069 42 4,957 665 4,292 2,179 2,113 50,392 (524) 51,981 85,783 2,148 76,060 7,574 1,053 (30) 6,492 778 5,714 3,078 2,636 47,634 (424) 49,845 (percent of net sales) 100.0 2.9 88.0 9.0 1.3 0.3 7.9 1.2 6.8 100.0 3.2 89.7 7.2 1.4 (0.5) 5.3 0.8 4.5 (percent) 100.0 3.7 91.1 5.2 1.6 0.0 3.6 0.1 3.4 100.0 3.5 89.5 7.0 1.5 1.0 6.4 1.0 5.4 100.0 3.4 89.0 7.5 1.4 0.3 6.4 1.1 5.3 100.0 3.5 89.3 7.2 1.6 1.2 6.8 2.1 4.7 (percent of net sales) 100.0 3.6 89.7 6.7 1.7 2.3 7.3 2.1 5.2 (percent) 100.0 3.6 89.7 6.7 1.6 2.3 7.4 2.2 5.2 100.0 3.6 89.7 6.7 1.7 3.7 8.8 2.6 6.2 100.0 3.5 88.2 8.3 1.7 2.9 9.5 2.6 6.9 100.0 2.4 89.4 8.2 1.1 0.0 7.1 1.0 6.1 (percent of net sales) 100.0 2.5 89.8 7.6 1.2 0.0 6.4 0.9 5.5 (percent) 100.0 2.6 94.1 3.3 1.3 0.0 1.9 0.7 1.2 100.0 2.6 89.9 7.5 1.3 0.1 6.2 0.8 5.4 100.0 2.5 88.7 8.8 1.2 0.0 7.6 0.9 6.7 32.36 27.68 15.45 13.21 23.62 20.06 10.10 8.58 15.06 14.45 6.58 6.32 26.41 22.27 11.61 9.78 28.72 23.71 12.49 10.31 19.20 13.31 7.54 5.23 20.10 14.32 7.80 5.56 21.05 14.72 8.14 5.69 23.56 16.68 9.06 6.41 26.22 18.97 10.26 7.42 31.81 27.24 15.12 12.95 27.66 23.61 12.99 11.09 8.65 5.37 3.93 2.44 26.82 23.22 12.11 10.48 34.86 30.68 15.80 13.91 1.93 0.27 1.60 1.74 0.27 1.28 1.71 0.27 1.30 1.73 0.27 1.30 1.71 0.25 1.27 1.38 0.22 1.72 1.35 0.22 1.67 1.36 0.23 1.66 1.38 0.23 1.60 1.38 0.22 1.65 2.08 0.37 1.60 2.08 0.38 1.55 2.02 0.37 1.45 2.02 0.37 1.39 2.05 0.39 1.42 27 U.S. Census Bureau TABLE 7.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 30 AND ALL DURABLE MANUFACTURING INDUSTRIES Rubber and Misc. Plastics Products1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 2,427 319 2,746 1,023 3,769 17,065 15,334 3,750 39,918 64,375 1,624 33,038 32,961 23,095 95,974 2,569 321 2,890 1,130 4,020 16,507 14,316 4,530 39,372 63,875 1,506 32,571 32,811 22,466 94,649 2,673 259 2,931 1,446 4,377 14,805 13,855 4,268 37,306 63,342 1,421 32,021 32,741 23,624 93,671 2,628 249 2,877 1,459 4,336 15,471 14,158 3,568 37,533 62,439 1,493 31,952 31,979 23,413 92,925 2,720 252 2,973 1,079 4,051 16,243 13,943 3,876 38,113 62,060 1,404 31,910 31,554 23,225 92,891 4,396 945 9,280 865 2,295 630 8,110 26,521 12,554 10,750 11,023 60,848 16,608 18,519 35,126 95,974 4,172 1,116 8,813 854 2,340 476 8,122 25,894 12,032 12,187 10,918 61,032 15,684 17,933 33,617 94,649 3,649 960 8,804 645 1,710 558 7,740 24,066 13,392 11,123 10,283 58,865 15,644 19,162 34,806 93,671 4,284 688 8,840 745 1,789 490 7,749 24,586 13,503 10,515 10,028 58,631 20,911 13,383 34,294 92,925 4,883 416 9,155 651 1,724 448 7,415 24,692 14,033 10,296 9,817 58,838 20,537 13,517 34,054 92,891 13,397 13,478 13,240 12,947 13,421 (percent of total assets) 3.9 17.8 16.0 41.6 34.3 8.6 27.6 24.3 63.4 36.6 4.2 17.4 15.1 41.6 34.7 8.6 27.4 25.6 64.5 35.5 4.7 15.8 14.8 39.8 35.0 7.3 25.7 26.2 62.8 37.2 4.7 16.6 15.2 40.4 34.4 7.8 26.5 25.8 63.1 36.9 4.4 17.5 15.0 41.0 34.0 8.0 26.6 26.2 63.3 36.7 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 28 U.S. Census Bureau Rubber and Misc. Plastics Products Assets Under $25 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 All Durable Manufacturing Industries1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 All Durable Manufacturing Industries Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 1,175 193 1,368 325 1,694 5,186 4,304 876 12,060 15,542 271 9,154 6,659 1,525 20,244 1,379 153 1,532 333 1,866 5,294 4,146 937 12,243 16,371 296 9,580 7,087 1,370 20,700 1,250 109 1,359 328 1,687 4,422 3,642 803 10,555 15,793 183 9,014 6,962 1,252 18,769 1,327 63 1,390 351 1,741 4,785 3,768 766 11,061 15,631 179 8,839 6,971 1,285 19,317 1,331 83 1,414 270 1,684 5,396 3,690 693 11,463 15,805 189 8,986 7,008 1,564 48,989 17,279 66,268 62,269 128,537 279,624 286,971 99,597 794,729 924,234 29,647 486,947 466,935 710,291 (million dollars) 50,832 20,181 71,014 59,865 130,878 283,357 294,389 103,416 812,041 936,192 30,265 492,578 473,879 736,888 53,032 18,345 71,377 65,249 136,626 277,954 282,086 115,037 811,703 939,685 30,252 492,457 477,479 762,072 58,652 17,822 76,474 62,117 138,591 284,423 288,365 119,260 830,640 952,753 30,851 502,944 480,661 781,561 59,220 15,883 75,103 61,722 136,825 301,777 288,800 115,932 843,334 948,876 30,460 503,887 475,450 816,040 13,188 1,691 14,879 4,193 19,072 42,509 39,975 5,979 107,534 110,479 3,026 67,996 45,508 9,246 162,289 (million dollars) 14,370 1,618 15,988 4,134 20,122 43,089 40,563 6,286 110,061 114,276 3,116 69,852 47,539 10,048 167,647 13,222 1,760 14,983 4,278 19,260 39,840 38,966 6,040 104,106 113,509 2,936 70,033 46,412 9,455 159,974 13,865 1,650 15,514 4,198 19,712 41,752 38,970 5,948 115,189 2,960 70,711 47,437 9,945 14,841 1,605 16,445 4,060 20,505 42,691 39,625 5,923 114,382 2,794 70,669 46,507 9,072 106,381 108,744 20,036 1,971,954 2,022,808 2,051,254 2,092,861 2,134,824 163,763 164,323 1,235 314 2,732 90 500 174 1,207 6,251 2,238 1,596 494 10,579 2,731 6,935 9,665 20,244 1,559 355 2,820 161 552 169 1,403 7,019 2,352 1,910 570 11,851 2,258 6,592 8,850 20,700 1,388 331 2,586 67 453 201 1,152 6,177 2,286 1,652 446 10,561 1,757 6,450 8,207 18,769 1,597 195 2,862 97 462 166 1,017 6,396 2,334 1,784 316 10,829 5,737 2,750 8,488 19,317 1,899 179 2,912 110 410 156 1,055 6,722 2,286 1,913 404 6,039 2,671 8,709 36,015 46,434 169,684 20,538 12,626 14,452 275,740 575,489 128,141 213,329 280,330 301,505 473,161 774,665 36,007 52,646 173,561 22,650 13,673 14,210 288,208 600,955 136,142 218,182 282,881 303,050 481,598 784,648 33,307 48,494 175,337 24,699 14,266 13,811 285,681 595,595 143,728 224,894 293,482 308,844 484,711 793,555 37,248 48,879 178,757 25,929 15,725 14,812 280,304 601,655 150,172 235,412 301,133 305,446 499,043 804,489 35,779 47,565 185,575 25,236 15,619 15,305 287,991 613,070 148,332 244,356 293,882 319,456 515,729 835,184 10,545 1,670 20,614 826 3,906 1,615 12,431 51,607 16,681 13,792 3,071 85,152 20,172 56,965 77,137 162,289 10,778 1,940 20,689 886 4,205 1,634 12,778 52,911 18,387 13,931 3,662 88,891 21,025 57,731 78,756 167,647 10,545 1,966 19,975 778 3,976 1,915 12,455 51,609 17,961 13,827 3,854 87,252 21,389 51,333 72,722 159,974 11,121 1,943 20,798 714 4,522 2,264 11,300 52,662 20,052 13,137 3,980 89,831 21,952 51,981 73,933 11,071 2,057 20,921 631 4,217 2,111 11,942 52,949 18,577 14,522 3,778 89,826 24,651 49,845 74,497 11,326 1,197,289 1,238,159 1,257,699 1,288,372 1,299,640 20,036 1,971,954 2,022,808 2,051,254 2,092,861 2,134,824 163,763 164,323 5,809 5,224 4,378 4,665 4,741 219,240 211,086 216,108 228,985 230,264 55,927 57,150 52,497 53,719 55,794 (percent of total assets) (percent of total assets) (percent of total assets) 8.4 25.6 21.3 59.6 32.9 11.0 30.9 18.9 52.3 47.7 9.0 25.6 20.0 59.1 34.2 12.7 33.9 20.6 57.2 42.8 9.0 23.6 19.4 56.2 37.1 12.6 32.9 21.0 56.3 43.7 9.0 24.8 19.5 57.3 36.1 12.5 33.1 21.3 56.1 43.9 8.4 26.9 18.4 57.2 35.0 13.2 33.6 21.0 56.5 43.5 6.5 14.2 14.6 40.3 23.7 5.6 29.2 17.3 60.7 39.3 6.5 14.0 14.6 40.1 23.4 5.8 29.7 17.5 61.2 38.8 6.7 13.6 13.8 39.6 23.3 5.4 29.0 18.0 61.3 38.7 6.6 13.6 13.8 39.7 23.0 5.6 28.7 18.4 61.6 38.4 6.4 14.1 13.5 39.5 22.3 5.4 28.7 18.4 60.9 39.1 11.8 26.2 24.6 66.3 28.0 10.9 31.8 18.8 52.5 47.5 12.0 25.7 24.2 65.7 28.4 11.1 31.6 19.3 53.0 47.0 12.0 24.9 24.4 65.1 29.0 11.5 32.3 19.9 54.5 45.5 12.0 25.5 23.8 65.0 29.0 12.1 32.2 20.3 54.9 45.1 12.5 26.0 24.1 66.2 28.3 11.8 32.2 20.1 54.7 45.3 29 U.S. Census Bureau TABLE 8.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 32 AND 33 Stone, Clay, and Glass Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 4.6 82.1 13.3 2.9 1.1 11.5 2.7 8.8 100.0 4.3 81.1 14.6 2.5 1.5 13.6 4.0 9.6 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 20,074 920 16,477 2,678 582 214 2,310 534 1,776 538 1,238 8,703 (58) 9,882 21,133 911 17,137 3,085 538 319 2,866 848 2,018 384 1,635 9,374 (186) 10,823 19,761 939 16,773 2,049 460 (1,675) (86) 21 (107) 413 (520) 11,151 (101) 10,530 17,662 940 15,264 1,458 552 235 1,142 318 825 316 509 9,758 (216) 10,051 19,762 932 16,187 2,642 486 278 2,434 584 1,851 464 1,386 9,539 (72) 10,853 (percent of net sales) 100.0 4.8 84.9 10.4 2.3 (8.5) (0.4) 0.1 (0.5) 100.0 5.3 86.4 8.3 3.1 1.3 6.5 1.8 4.7 100.0 4.7 81.9 13.4 2.5 1.4 12.3 3.0 9.4 34.26 26.34 12.15 9.34 39.73 27.98 14.55 10.25 (1.23) (1.52) (0.44) (0.55) 16.42 11.85 5.71 4.12 33.67 25.59 12.28 9.34 1.54 0.18 1.04 1.63 0.24 1.09 1.50 0.21 1.13 1.55 0.20 0.98 1.60 0.20 1.08 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 30 U.S. Census Bureau Stone, Clay, and Glass Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 1998 1Q 19992 2Q 1999 2Q 1998 Primary Metal Industries1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Primary Metal Industries Assets Under $25 Million 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 5,451 178 4,595 678 73 (5) 601 40 561 398 163 4,106 3 4,273 5,441 161 4,643 638 69 2 570 77 493 146 347 3,187 (22) 3,512 4,962 175 4,513 274 49 (27) 197 48 148 132 16 4,535 (17) 4,534 4,083 154 3,775 155 55 11 111 12 98 149 (51) 3,352 (142) 3,159 5,164 157 4,483 525 53 (29) 442 27 415 245 169 2,428 95 2,693 40,851 1,545 36,307 2,999 730 (59) 2,210 713 1,497 430 1,067 26,889 (142) 27,814 (million dollars) 38,038 1,599 34,073 2,367 787 624 2,204 761 1,444 612 831 27,544 (163) 28,212 36,867 1,588 33,475 1,804 765 (4) 1,035 387 648 420 228 28,107 (182) 28,152 34,752 1,539 31,686 1,527 813 422 1,137 470 666 490 176 27,690 23 27,889 36,398 1,550 32,624 2,223 813 356 1,767 476 1,291 542 749 27,878 (117) 28,510 4,404 126 3,906 371 42 14 343 44 299 118 181 3,549 3 3,733 (million dollars) 3,953 134 3,572 247 42 (1) 204 30 174 82 92 3,896 6 3,994 3,687 126 3,456 106 36 (33) 37 17 20 142 (122) 3,131 (39) 2,969 3,725 116 3,324 285 39 (16) 230 28 202 67 135 3,299 12 3,445 3,835 110 3,285 439 38 (10) 391 27 364 172 192 3,315 (41) 3,466 (percent of net sales) 100.0 3.3 84.3 12.4 1.3 (0.1) 11.0 0.7 10.3 100.0 3.0 85.3 11.7 1.3 0.0 10.5 1.4 9.1 (percent) 100.0 3.5 91.0 5.5 1.0 (0.5) 4.0 1.0 3.0 100.0 3.8 92.4 3.8 1.4 0.3 2.7 0.3 2.4 100.0 3.0 86.8 10.2 1.0 (0.6) 8.6 0.5 8.0 100.0 3.8 88.9 7.3 1.8 (0.1) 5.4 1.7 3.7 (percent of net sales) 100.0 4.2 89.6 6.2 2.1 1.6 5.8 2.0 3.8 (percent) 100.0 4.3 90.8 4.9 2.1 0.0 2.8 1.0 1.8 100.0 4.4 91.2 4.4 2.3 1.2 3.3 1.4 1.9 100.0 4.3 89.6 6.1 2.2 1.0 4.9 1.3 3.5 100.0 2.9 88.7 8.4 1.0 0.3 7.8 1.0 6.8 (percent of net sales) 100.0 3.4 90.4 6.2 1.1 0.0 5.2 0.7 4.4 (percent) 100.0 3.4 93.7 2.9 1.0 (0.9) 1.0 0.5 0.5 100.0 3.1 89.2 7.7 1.0 (0.4) 6.2 0.8 5.4 100.0 2.9 85.7 11.4 1.0 (0.3) 10.2 0.7 9.5 47.91 44.76 22.22 20.75 43.93 37.96 22.04 19.04 15.97 12.04 8.16 6.15 9.47 8.42 4.53 4.03 36.90 34.61 17.47 16.39 16.48 11.16 6.07 4.11 16.02 10.49 5.99 3.92 7.62 4.77 2.81 1.76 8.51 4.99 3.10 1.81 13.32 9.73 4.84 3.53 30.93 26.97 16.18 14.11 16.88 14.43 8.98 7.68 3.85 2.09 1.96 1.06 21.58 18.93 11.50 10.09 38.53 35.86 20.65 19.22 1.98 0.40 1.58 2.27 0.50 1.82 2.09 0.47 2.14 2.02 0.41 1.72 2.01 0.44 1.73 1.61 0.20 1.30 1.57 0.16 1.30 1.57 0.16 1.27 1.61 0.18 1.22 1.59 0.17 1.23 2.03 0.41 1.98 2.04 0.40 2.21 1.79 0.30 1.91 1.98 0.45 2.05 2.17 0.53 2.31 31 U.S. Census Bureau TABLE 8.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 32 AND 33 Stone, Clay, and Glass Products1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 1,961 336 2,298 545 2,842 10,941 8,305 2,006 24,093 51,220 4,315 24,416 31,119 20,872 76,084 2,206 817 3,022 693 3,715 11,524 8,359 2,136 25,734 51,687 4,374 24,926 31,135 21,909 78,778 2,270 408 2,678 702 3,381 10,600 7,715 2,422 24,119 51,565 4,457 24,674 31,348 22,141 77,608 2,281 246 2,526 739 3,265 10,904 8,254 2,595 25,018 54,781 4,463 25,930 33,315 21,651 79,984 2,189 286 2,474 812 3,286 11,647 8,127 2,817 25,876 52,731 4,480 25,626 31,585 21,831 79,292 1,323 997 5,626 721 671 720 5,627 15,685 10,897 11,295 11,230 49,108 17,094 9,882 26,977 76,084 1,003 880 5,626 915 612 716 6,036 15,787 11,484 11,771 10,876 49,918 18,037 10,823 28,860 78,778 984 593 5,923 758 723 868 6,275 16,125 9,389 12,162 11,900 49,576 17,502 10,530 28,032 77,608 1,114 608 5,763 672 879 843 6,240 16,119 11,699 13,176 11,156 52,151 17,782 10,051 27,833 79,984 1,509 550 5,648 762 875 308 6,476 16,127 9,863 13,631 10,748 50,369 18,070 10,853 28,923 79,292 8,408 9,947 7,994 8,899 9,749 (percent of total assets) 3.7 14.4 10.9 31.7 40.9 4.9 20.6 29.2 64.5 35.5 4.7 14.6 10.6 32.7 39.5 4.1 20.0 29.5 63.4 36.6 4.4 13.7 9.9 31.1 40.4 4.1 20.8 27.8 63.9 36.1 4.1 13.6 10.3 31.3 41.7 4.3 20.2 31.1 65.2 34.8 4.1 14.7 10.2 32.6 39.8 4.1 20.3 29.6 63.5 36.5 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 32 U.S. Census Bureau Stone, Clay, and Glass Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 1998 1Q 19992 2Q 1999 2Q 1998 Primary Metal Industries1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Primary Metal Industries Assets Under $25 Million 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 887 142 1,029 220 1,249 2,744 1,935 313 6,242 9,105 334 5,350 4,088 482 10,813 996 80 1,077 310 1,386 2,680 1,991 242 6,300 8,402 316 5,179 3,540 514 10,354 898 23 920 413 1,333 2,728 1,628 225 5,914 7,998 262 4,970 3,290 456 9,660 823 62 885 306 1,191 2,697 1,732 283 5,902 8,203 323 5,162 3,364 496 9,763 942 71 1,012 385 1,397 2,816 1,720 413 6,346 8,305 264 5,222 3,347 428 10,120 2,873 531 3,404 2,882 6,286 19,271 21,926 4,318 51,799 111,842 5,133 54,146 62,829 30,972 145,600 (million dollars) 2,531 358 2,889 2,424 5,313 18,850 22,353 4,327 50,842 111,859 5,100 52,781 64,178 32,276 147,296 2,554 359 2,913 2,189 5,103 17,265 22,362 4,498 49,227 110,049 5,222 51,522 63,749 34,303 147,279 2,622 294 2,916 2,528 5,444 17,667 21,808 4,895 49,814 110,469 5,159 52,344 63,283 33,801 146,898 2,520 400 2,920 2,390 5,310 17,908 21,359 4,569 49,145 110,820 5,257 52,752 63,325 33,673 146,143 653 21 674 297 971 2,159 1,440 269 4,840 7,297 179 4,153 3,323 312 8,475 (million dollars) 708 17 725 315 1,040 2,356 1,536 333 5,265 7,827 168 4,518 3,477 336 9,077 522 14 537 164 701 1,732 1,440 313 4,187 6,993 165 4,046 3,112 225 7,524 618 32 650 379 1,029 1,841 1,429 226 4,525 7,259 174 4,341 3,092 375 7,993 584 97 681 418 1,099 1,837 1,343 203 4,482 6,378 149 3,818 2,709 386 7,576 545 35 1,471 67 270 73 691 3,152 1,614 628 406 5,799 741 4,273 5,013 10,813 398 36 1,290 75 268 78 634 2,778 1,458 615 308 5,160 1,682 3,512 5,194 10,354 416 41 1,279 94 174 78 744 2,825 1,137 461 305 4,727 398 4,534 4,932 9,660 503 30 1,432 47 282 74 548 2,917 1,262 562 351 5,092 1,512 3,159 4,671 9,763 602 11 1,410 43 244 105 744 3,158 1,267 545 359 5,329 2,099 2,693 4,791 10,120 2,599 1,483 12,289 735 1,218 2,929 10,968 32,222 10,381 22,568 26,792 91,962 25,824 27,814 53,638 145,600 2,601 1,846 11,738 925 1,557 2,814 10,885 32,366 10,416 23,002 26,474 92,258 26,826 28,212 55,038 147,296 2,276 1,163 11,582 921 1,538 3,112 10,862 31,455 11,682 22,997 26,803 92,936 26,190 28,152 54,343 147,279 2,452 1,164 11,640 914 1,682 2,966 10,173 30,993 12,127 23,509 26,832 93,460 25,548 27,889 53,437 146,898 2,326 890 11,844 833 1,511 2,838 10,639 30,880 11,786 23,901 26,536 93,102 24,531 28,510 53,041 146,143 395 25 1,051 47 242 68 553 2,380 1,016 492 155 4,042 700 3,733 4,433 8,475 365 20 1,181 36 333 54 590 2,579 896 520 251 4,245 837 3,994 4,832 9,077 379 27 986 59 232 137 515 2,335 813 415 136 3,698 857 2,969 3,826 7,524 423 11 1,069 68 257 62 398 2,289 855 469 120 3,733 814 3,445 4,260 7,993 268 8 989 59 211 26 502 2,063 932 309 212 3,516 594 3,466 4,060 7,576 3,090 3,523 3,089 2,985 3,188 19,578 18,476 17,773 18,821 18,265 2,460 2,686 1,852 2,236 2,419 (percent of total assets) (percent of total assets) (percent of total assets) 11.6 25.4 17.9 57.7 37.8 8.5 29.2 20.7 53.6 46.4 13.4 25.9 19.2 60.8 34.2 7.5 26.8 20.0 49.8 50.2 13.8 28.2 16.8 61.2 34.1 7.3 29.2 16.5 48.9 51.1 12.2 27.6 17.7 60.5 34.5 9.1 29.9 18.7 52.2 47.8 13.8 27.8 17.0 62.7 33.1 9.5 31.2 17.9 52.7 47.3 4.3 13.2 15.1 35.6 43.2 5.7 22.1 22.6 63.2 36.8 3.6 12.8 15.2 34.5 43.6 6.0 22.0 22.7 62.6 37.4 3.5 11.7 15.2 33.4 43.3 5.5 21.4 23.5 63.1 36.9 3.7 12.0 14.8 33.9 43.1 5.6 21.1 24.3 63.6 36.4 3.6 12.3 14.6 33.6 43.3 5.2 21.1 24.4 63.7 36.3 11.5 25.5 17.0 57.1 39.2 8.6 28.1 17.8 47.7 52.3 11.5 26.0 16.9 58.0 38.3 8.5 28.4 15.6 46.8 53.2 9.3 23.0 19.1 55.6 41.4 10.3 31.0 16.3 49.2 50.8 12.9 23.0 17.9 56.6 38.7 9.4 28.6 16.6 46.7 53.3 14.5 24.2 17.7 59.2 35.8 6.8 27.2 16.4 46.4 53.6 33 U.S. Census Bureau TABLE 9.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC INDUSTRY GROUPS 331, 2, 9, AND 333−6 Iron and Steel1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.9 89.1 7.0 1.8 0.0 5.1 1.8 3.3 100.0 4.5 90.0 5.6 2.3 0.5 3.8 1.5 2.3 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Primary 2 Prior quarters’ data 3 2 4Q 1998 1Q 1999 2Q 1999 20,791 813 18,531 1,448 382 (5) 1,060 368 692 179 513 7,765 (91) 8,188 18,641 830 16,772 1,039 424 101 717 280 437 125 311 7,859 (19) 8,152 17,403 817 15,791 796 397 (111) 288 254 35 178 (144) 7,962 (118) 7,701 16,631 810 15,423 398 430 60 28 77 (48) 127 (175) 7,184 (25) 6,984 17,843 830 16,166 847 440 158 564 206 359 180 179 6,893 (3) 7,069 (percent of net sales) 100.0 4.7 90.7 4.6 2.3 (0.6) 1.7 1.5 0.2 100.0 4.9 92.7 2.4 2.6 0.4 0.2 0.5 (0.3) 100.0 4.7 90.6 4.7 2.5 0.9 3.2 1.2 2.0 16.83 10.99 5.84 3.81 11.48 7.00 3.92 2.39 4.78 0.57 1.60 0.19 0.48 (0.82) 0.16 (0.27) 9.66 6.14 3.13 1.99 1.74 0.20 1.25 1.74 0.17 1.19 1.71 0.19 1.13 1.73 0.20 1.07 1.78 0.21 1.10 Metal Industries. are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 34 U.S. Census Bureau Iron and Steel Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Nonferrous Metals1 3Q 1998 4Q 1998 2 Nonferrous Metals Assets Under $25 Million1 1Q 1999 2Q 1999 2Q 1998 3Q 19983 4Q 19983 1Q 19993 2Q 1999 (million dollars) 1,720 48 1,542 130 16 30 144 12 133 38 95 1,315 (12) 1,398 1,509 51 1,361 97 16 1 82 7 75 12 63 1,422 (1) 1,483 1,310 45 1,228 37 13 (22) 2 2 0 52 (52) 1,359 9 1,316 1,261 48 1,154 59 15 (3) 40 1 39 14 25 1,517 (18) 1,525 1,377 43 1,197 137 16 3 124 6 118 53 65 1,313 (3) 1,375 20,061 732 17,777 1,551 348 (54) 1,149 345 805 251 553 19,124 (51) 19,626 (million dollars) 19,397 769 17,301 1,328 363 523 1,487 480 1,007 487 520 19,685 (145) 20,061 19,464 772 17,684 1,008 368 107 747 133 614 242 372 20,144 (64) 20,452 18,122 729 16,263 1,130 383 362 1,108 394 715 364 351 20,506 47 20,905 18,554 720 16,457 1,377 372 198 1,202 270 932 362 570 20,985 (114) 21,441 2,684 78 2,365 241 27 (16) 198 32 166 80 86 2,234 15 2,335 (million dollars) 2,444 83 2,211 150 26 (2) 122 22 100 70 29 2,474 7 2,511 2,377 80 2,228 69 23 (11) 35 15 20 90 (70) 1,772 (48) 1,653 2,464 68 2,169 227 24 (13) 190 27 162 53 110 1,782 30 1,921 2,457 67 2,088 302 22 (13) 267 21 246 120 126 2,002 (38) 2,091 (percent of net sales) 100.0 2.8 89.7 7.6 0.9 1.7 8.4 0.7 7.7 100.0 3.4 90.2 6.4 1.1 0.1 5.4 0.5 4.9 (percent) 100.0 3.5 93.7 2.8 1.0 (1.7) 0.2 0.2 0.0 100.0 3.8 91.6 4.7 1.2 (0.3) 3.2 0.1 3.1 100.0 3.2 86.9 9.9 1.2 0.2 9.0 0.4 8.6 100.0 3.7 88.6 7.7 1.7 (0.3) 5.7 1.7 4.0 (percent of net sales) 100.0 4.0 89.2 6.8 1.9 2.7 7.7 2.5 5.2 (percent) 100.0 4.0 90.9 5.2 1.9 0.5 3.8 0.7 3.2 100.0 4.0 89.7 6.2 2.1 2.0 6.1 2.2 3.9 100.0 3.9 88.7 7.4 2.0 1.1 6.5 1.5 5.0 100.0 2.9 88.1 9.0 1.0 (0.6) 7.4 1.2 6.2 (percent of net sales) 100.0 3.4 90.5 6.1 1.0 (0.1) 5.0 0.9 4.1 (percent) 100.0 3.4 93.7 2.9 1.0 (0.5) 1.5 0.6 0.8 100.0 2.8 88.0 9.2 1.0 (0.5) 7.7 1.1 6.6 100.0 2.7 85.0 12.3 0.9 (0.5) 10.9 0.9 10.0 36.52 33.59 19.20 17.66 18.92 17.25 9.97 9.09 0.53 (0.01) 0.29 (0.01) 8.62 8.38 5.05 4.91 30.41 28.95 16.55 15.75 16.16 11.31 6.30 4.41 19.79 13.40 8.02 5.43 9.89 8.13 3.98 3.27 14.81 9.54 5.96 3.84 16.20 12.56 6.49 5.03 27.82 23.30 14.51 12.15 15.74 12.85 8.42 6.88 6.08 3.51 2.96 1.71 31.70 27.16 15.78 13.52 43.98 40.51 23.33 21.49 1.91 0.24 2.13 1.82 0.18 2.21 1.90 0.23 2.27 2.13 0.36 2.53 2.30 0.41 2.46 1.48 0.19 1.35 1.42 0.16 1.41 1.44 0.14 1.41 1.49 0.15 1.37 1.42 0.14 1.35 2.11 0.52 1.91 2.19 0.55 2.21 1.73 0.34 1.73 1.89 0.50 1.79 2.10 0.60 2.23 35 U.S. Census Bureau TABLE 9.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC INDUSTRY GROUPS 331, 2, 9, AND 333−6 Iron and Steel1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Primary 2 Prior quarters’ data 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 1,341 99 1,439 1,749 3,188 9,800 12,945 1,470 27,403 57,903 1,528 27,289 32,142 13,026 72,570 1,103 44 1,146 1,427 2,574 9,200 13,458 1,631 26,862 56,895 1,499 25,124 33,270 12,947 73,080 1,177 25 1,202 1,570 2,772 8,155 13,028 1,537 25,492 57,040 1,628 25,062 33,605 13,203 72,300 1,264 47 1,311 1,730 3,040 8,558 12,745 1,468 25,811 57,229 1,628 25,402 33,455 13,217 72,483 1,200 115 1,315 1,739 3,054 8,608 12,537 1,635 25,834 57,305 1,615 25,533 33,387 12,776 71,997 1,374 975 6,838 358 503 371 5,352 15,771 6,623 10,313 14,672 47,379 17,004 8,188 25,192 72,570 1,628 868 6,415 433 571 357 5,210 15,482 6,594 10,918 15,114 48,108 16,820 8,152 24,972 73,080 1,401 810 6,211 440 512 545 5,019 14,939 6,988 11,078 15,145 48,149 16,451 7,701 24,151 72,300 1,537 609 6,225 440 731 343 5,031 14,917 7,131 11,666 15,277 48,991 16,508 6,984 23,493 72,483 1,291 122 6,488 373 684 420 5,103 14,481 7,176 11,614 15,367 48,638 16,289 7,069 23,359 71,997 11,632 11,381 10,554 10,894 11,353 (percent of total assets) 4.4 13.5 17.8 37.8 44.3 4.4 21.7 23.3 65.3 34.7 3.5 12.6 18.4 36.8 45.5 4.7 21.2 24.0 65.8 34.2 3.8 11.3 18.0 35.3 46.5 4.5 20.7 25.0 66.6 33.4 4.2 11.8 17.6 35.6 46.2 4.4 20.6 25.9 67.6 32.4 4.2 12.0 17.4 35.9 46.4 3.5 20.1 26.1 67.6 32.4 Metal Industries. are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 36 U.S. Census Bureau Iron and Steel Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Nonferrous Metals1 3Q 1998 4Q 1998 2 Nonferrous Metals Assets Under $25 Million1 1Q 1999 2Q 1999 2Q 1998 3Q 19983 4Q 19983 1Q 19993 2Q 1999 (million dollars) 161 5 167 61 227 814 612 132 1,785 2,858 92 1,793 1,157 68 3,010 152 6 158 27 185 836 688 169 1,877 3,058 94 1,814 1,338 69 3,284 173 5 178 22 200 616 615 188 1,619 2,968 85 1,922 1,132 83 2,834 225 28 253 31 284 653 642 107 1,687 3,329 100 2,133 1,296 205 3,188 164 89 253 44 297 677 646 65 1,686 2,742 75 1,675 1,143 171 2,999 1,532 432 1,964 1,133 3,097 9,471 8,980 2,847 24,396 53,940 3,605 26,857 30,687 17,946 73,030 (million dollars) 1,428 314 1,742 996 2,739 9,650 8,895 2,696 23,980 54,964 3,601 27,656 30,908 19,328 74,217 1,377 334 1,711 619 2,330 9,110 9,333 2,962 23,735 53,009 3,594 26,460 30,144 21,100 74,979 1,358 247 1,605 799 2,404 9,108 9,064 3,427 24,002 53,240 3,531 26,943 29,828 20,584 74,414 1,320 285 1,605 651 2,256 9,300 8,821 2,934 23,311 53,516 3,642 27,219 29,939 20,896 74,146 492 16 508 236 744 1,346 828 137 3,055 4,440 86 2,360 2,166 244 5,465 (million dollars) 556 11 567 288 855 1,520 848 164 3,387 4,769 74 2,704 2,139 266 5,793 349 9 358 143 501 1,116 825 125 2,568 4,025 80 2,124 1,980 142 4,690 392 4 396 348 745 1,188 787 118 2,838 3,931 74 2,208 1,796 171 4,805 420 7 428 374 802 1,159 697 138 2,796 3,636 74 2,144 1,566 215 4,577 187 4 398 19 72 36 220 935 316 128 49 1,428 185 1,398 1,583 3,010 150 6 445 8 153 34 235 1,032 324 114 83 1,553 248 1,483 1,732 3,284 150 12 375 2 43 79 192 854 279 115 45 1,293 225 1,316 1,541 2,834 170 0 378 10 77 17 138 790 338 136 56 1,321 343 1,525 1,868 3,188 74 0 363 7 85 12 192 734 411 82 141 1,368 257 1,375 1,632 2,999 1,224 508 5,451 377 715 2,559 5,616 16,451 3,758 12,255 12,121 44,584 8,820 19,626 28,446 73,030 973 979 5,323 492 986 2,457 5,675 16,885 3,822 12,084 11,360 44,150 10,006 20,061 30,067 74,217 875 353 5,372 481 1,026 2,567 5,843 16,516 4,694 11,919 11,658 44,787 9,739 20,452 30,191 74,979 915 555 5,415 474 952 2,623 5,141 16,076 4,996 11,843 11,554 44,469 9,040 20,905 29,945 74,414 1,035 768 5,356 459 827 2,418 5,536 16,398 4,610 12,287 11,168 44,464 8,241 21,441 29,682 74,146 208 21 653 28 170 32 333 1,444 700 364 106 2,614 516 2,335 2,850 5,465 215 13 737 28 180 20 354 1,547 571 406 169 2,693 589 2,511 3,100 5,793 228 15 611 57 189 58 323 1,481 533 300 91 2,405 632 1,653 2,285 4,690 253 11 691 58 180 45 261 1,499 518 333 64 2,413 471 1,921 2,392 4,805 194 8 626 52 127 13 309 1,328 521 227 71 2,149 338 2,091 2,428 4,577 850 846 765 897 952 7,946 7,095 7,219 7,927 6,912 1,610 1,840 1,087 1,339 1,468 (percent of total assets) (percent of total assets) (percent of total assets) 7.5 27.0 20.3 59.3 38.4 9.9 31.1 14.8 47.4 52.6 5.6 25.4 20.9 57.2 40.7 10.4 31.4 13.3 47.3 52.7 7.1 21.7 21.7 57.1 39.9 10.0 30.1 13.9 45.6 54.4 8.9 20.5 20.1 52.9 40.7 8.3 24.8 14.9 41.4 58.6 9.9 22.6 21.5 56.2 38.1 5.7 24.5 16.4 45.6 54.4 4.2 13.0 12.3 33.4 42.0 6.9 22.5 21.9 61.0 39.0 3.7 13.0 12.0 32.3 41.6 7.3 22.8 21.4 59.5 40.5 3.1 12.1 12.4 31.7 40.2 6.4 22.0 22.2 59.7 40.3 3.2 12.2 12.2 32.3 40.1 6.8 21.6 22.6 59.8 40.2 3.0 12.5 11.9 31.4 40.4 6.8 22.1 22.8 60.0 40.0 13.6 24.6 15.2 55.9 39.6 7.9 26.4 19.5 47.8 52.2 14.8 26.2 14.6 58.5 36.9 7.4 26.7 16.9 46.5 53.5 10.7 23.8 17.6 54.8 42.2 10.4 31.6 17.8 51.3 48.7 15.5 24.7 16.4 59.1 37.4 10.2 31.2 17.7 50.2 49.8 17.5 25.3 15.2 61.1 34.2 7.5 29.0 16.3 46.9 53.1 37 U.S. Census Bureau TABLE 10.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 34 AND 35 Fabricated Metal Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 2.8 87.4 9.8 1.8 0.9 9.0 1.9 7.0 100.0 3.0 87.5 9.6 1.9 (0.1) 7.5 1.8 5.7 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 46,759 1,296 40,859 4,604 858 443 4,189 895 3,294 1,183 2,111 35,620 (12) 37,719 46,760 1,381 40,907 4,472 909 (48) 3,515 852 2,663 1,052 1,611 39,091 (101) 40,602 44,615 1,343 40,328 2,945 1,007 (17) 1,921 515 1,407 801 605 37,672 24 38,302 45,435 1,303 40,154 3,978 832 (7) 3,139 721 2,418 1,005 1,413 40,003 (109) 41,307 46,761 1,310 40,766 4,685 937 156 3,904 736 3,167 1,297 1,870 41,176 (344) 42,702 (percent of net sales) 100.0 3.0 90.4 6.6 2.3 0.0 4.3 1.2 3.2 100.0 2.9 88.4 8.8 1.8 0.0 6.9 1.6 5.3 100.0 2.8 87.2 10.0 2.0 0.3 8.3 1.6 6.8 30.17 23.73 12.24 9.62 24.59 18.63 9.94 7.53 13.88 10.16 5.59 4.09 21.92 16.88 8.81 6.78 26.81 21.75 10.98 8.91 1.65 0.22 1.22 1.64 0.22 1.24 1.65 0.23 1.22 1.68 0.21 1.22 1.69 0.21 1.22 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 38 U.S. Census Bureau Fabricated Metal Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 2Q 1998 Machinery, Except Electrical1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Machinery, Except Electrical Assets Under $25 Million 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 18,674 410 16,506 1,759 188 (20) 1,551 232 1,319 659 660 13,654 (14) 14,300 18,697 449 16,517 1,731 204 1 1,529 216 1,313 447 866 15,764 (23) 16,607 18,197 462 17,115 620 240 (42) 337 120 217 468 (251) 14,561 (200) 14,110 18,891 459 16,773 1,659 195 (87) 1,377 166 1,211 496 715 15,811 (40) 16,485 18,732 473 16,477 1,782 231 (82) 1,470 152 1,318 673 644 15,408 (164) 15,889 113,520 3,508 103,429 6,583 1,688 1,170 6,065 2,472 3,593 1,693 1,900 84,319 (727) 85,492 (million dollars) 109,908 3,592 100,690 5,626 1,778 4,656 8,504 2,560 5,944 1,860 4,084 82,804 (331) 86,557 110,539 3,662 101,426 5,451 1,669 6,900 10,682 3,815 6,867 1,847 5,019 83,479 (7,175) 81,323 103,807 3,886 95,670 4,250 1,597 6,612 9,266 2,699 6,567 1,815 4,751 83,411 (403) 87,759 111,873 4,017 99,746 8,110 1,688 6,221 12,643 3,796 8,847 1,876 6,970 91,207 (1,127) 97,050 20,110 539 17,793 1,778 254 46 1,570 230 1,340 501 840 14,071 (162) 14,749 (million dollars) 18,972 564 17,055 1,353 266 33 1,119 147 972 627 344 13,279 51 13,675 18,494 573 17,712 209 277 39 (29) 148 (177) 662 (839) 14,219 (165) 13,216 18,073 565 16,124 1,383 252 78 1,210 182 1,029 454 574 14,102 31 14,707 19,123 592 16,687 1,844 235 78 1,688 222 1,466 635 831 14,297 (117) 15,011 (percent of net sales) 100.0 2.2 88.4 9.4 1.0 (0.1) 8.3 1.2 7.1 100.0 2.4 88.3 9.3 1.1 0.0 8.2 1.2 7.0 (percent) 100.0 2.5 94.1 3.4 1.3 (0.2) 1.9 0.7 1.2 100.0 2.4 88.8 8.8 1.0 (0.5) 7.3 0.9 6.4 100.0 2.5 88.0 9.5 1.2 (0.4) 7.8 0.8 7.0 100.0 3.1 91.1 5.8 1.5 1.0 5.3 2.2 3.2 (percent of net sales) 100.0 3.3 91.6 5.1 1.6 4.2 7.7 2.3 5.4 (percent) 100.0 3.3 91.8 4.9 1.5 6.2 9.7 3.5 6.2 100.0 3.7 92.2 4.1 1.5 6.4 8.9 2.6 6.3 100.0 3.6 89.2 7.2 1.5 5.6 11.3 3.4 7.9 100.0 2.7 88.5 8.8 1.3 0.2 7.8 1.1 6.7 (percent of net sales) 100.0 3.0 89.9 7.1 1.4 0.2 5.9 0.8 5.1 (percent) 100.0 3.1 95.8 1.1 1.5 0.2 (0.2) 0.8 (1.0) 100.0 3.1 89.2 7.7 1.4 0.4 6.7 1.0 5.7 100.0 3.1 87.3 9.6 1.2 0.4 8.8 1.2 7.7 35.60 30.28 17.89 15.22 33.50 28.78 17.10 14.68 8.10 5.21 3.94 2.54 29.85 26.24 15.13 13.30 33.40 29.95 16.75 15.02 14.79 8.76 6.26 3.71 20.95 14.64 8.63 6.03 26.22 16.85 10.69 6.87 22.53 15.97 9.28 6.57 29.43 20.59 12.22 8.55 32.49 27.73 15.18 12.96 24.54 21.31 10.88 9.45 (0.64) (3.91) (0.28) (1.72) 25.98 22.08 11.71 9.95 34.28 29.77 16.06 13.95 2.15 0.42 1.79 2.23 0.44 1.90 2.15 0.43 1.70 2.17 0.37 1.81 2.13 0.39 1.74 1.55 0.25 1.81 1.49 0.25 1.73 1.44 0.26 1.71 1.48 0.26 1.69 1.46 0.25 1.81 2.02 0.38 1.63 1.97 0.36 1.43 1.95 0.37 1.36 2.12 0.46 1.38 2.17 0.45 1.53 39 U.S. Census Bureau TABLE 10.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 34 AND 35 Fabricated Metal Products1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 5,297 647 5,944 2,370 8,314 25,763 22,872 4,990 61,940 70,085 1,696 36,723 35,058 39,925 136,923 5,329 897 6,226 2,201 8,426 26,359 22,640 6,073 63,499 72,684 1,812 37,834 36,662 41,354 141,514 5,301 816 6,117 2,404 8,521 23,783 21,738 5,945 59,988 72,481 1,778 37,348 36,911 40,560 137,459 4,837 584 5,421 2,385 7,806 26,374 22,779 6,512 63,471 73,807 1,768 38,330 37,245 41,860 142,575 5,412 449 5,861 1,901 7,762 26,476 22,134 6,469 62,841 73,255 1,635 38,057 36,833 42,477 142,152 4,854 3,866 12,896 864 1,646 974 12,373 37,473 17,978 16,135 9,811 81,396 17,808 37,719 55,527 136,923 4,478 3,923 13,296 1,069 1,807 1,037 13,121 38,730 18,162 16,715 10,729 84,337 16,575 40,602 57,177 141,514 4,617 3,639 12,885 629 1,771 854 12,067 36,462 17,832 16,788 11,026 82,109 17,049 38,302 55,351 137,459 4,512 3,972 13,221 908 2,003 1,151 12,040 37,807 17,775 17,595 12,099 85,277 15,991 41,307 57,298 142,575 4,794 4,200 12,725 664 1,832 906 12,133 37,254 18,790 17,095 10,775 83,914 15,535 42,702 58,237 142,152 24,468 24,768 23,526 25,663 25,587 (percent of total assets) 6.1 18.8 16.7 45.2 25.6 8.3 27.4 24.9 59.4 40.6 6.0 18.6 16.0 44.9 25.9 7.9 27.4 24.6 59.6 40.4 6.2 17.3 15.8 43.6 26.9 7.9 26.5 25.2 59.7 40.3 5.5 18.5 16.0 44.5 26.1 8.2 26.5 24.8 59.8 40.2 5.5 18.6 15.6 44.2 25.9 8.3 26.2 25.2 59.0 41.0 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 40 U.S. Census Bureau Fabricated Metal Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 2Q 1998 Machinery, Except Electrical1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Machinery, Except Electrical Assets Under $25 Million 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 3,048 410 3,458 972 4,431 9,679 7,226 1,363 22,698 24,586 638 15,499 9,726 2,250 34,675 3,255 531 3,786 797 4,583 9,989 7,370 1,441 23,383 25,676 674 16,191 10,159 2,232 35,774 3,142 542 3,683 763 4,446 9,253 7,179 1,221 22,100 26,006 620 16,469 10,157 2,011 34,268 2,789 470 3,260 780 4,039 10,371 7,785 1,340 23,536 26,942 522 16,813 10,651 2,222 36,409 3,138 359 3,497 633 4,131 9,990 7,211 1,205 22,537 26,522 549 16,378 10,693 1,858 35,088 12,565 1,471 14,036 14,442 28,478 70,924 53,030 22,853 175,284 151,783 3,837 84,034 71,586 140,622 387,492 (million dollars) 13,792 1,419 15,211 14,176 29,386 69,678 52,304 22,927 174,296 154,839 3,845 85,917 72,767 147,017 394,079 14,215 1,648 15,862 14,679 30,541 66,480 49,934 23,968 170,923 157,555 3,855 87,044 74,366 154,597 399,886 14,084 1,961 16,045 13,717 29,762 65,646 50,686 23,541 169,635 156,883 4,175 87,457 73,601 156,266 399,502 13,754 1,846 15,599 14,575 30,174 68,919 50,620 24,562 174,276 159,229 4,046 89,751 73,524 166,092 413,891 3,944 359 4,303 879 5,182 10,486 10,586 1,439 27,693 29,913 470 19,121 11,263 2,406 41,362 (million dollars) 3,911 306 4,217 808 5,025 10,477 10,505 1,401 27,409 29,835 369 18,861 11,343 2,390 41,141 3,416 501 3,917 1,090 5,007 9,881 10,284 1,478 26,650 31,052 535 19,637 11,950 2,365 40,965 4,215 432 4,646 1,193 5,839 9,994 9,988 1,436 27,256 30,413 587 19,342 11,658 2,447 41,360 4,300 418 4,718 1,052 5,770 10,458 10,190 1,534 27,950 31,255 583 20,006 11,832 2,243 42,026 2,074 427 4,372 141 816 265 2,439 10,535 3,376 2,765 574 17,250 3,125 14,300 17,425 34,675 1,884 521 4,630 201 721 321 2,222 10,499 3,778 2,396 845 17,519 1,648 16,607 18,255 35,774 1,780 378 4,671 101 766 294 2,279 10,268 3,918 2,651 768 17,604 2,554 14,110 16,664 34,268 1,812 416 4,933 123 938 481 2,156 10,858 4,350 2,221 523 17,953 1,972 16,485 18,457 36,409 2,118 495 4,539 159 772 278 2,213 10,574 3,990 2,489 435 17,489 1,711 15,889 17,599 35,088 9,076 6,808 40,646 3,384 2,633 4,193 46,532 113,273 20,696 47,223 42,286 223,478 78,521 85,492 164,014 387,492 9,431 7,772 40,524 4,007 2,475 4,295 48,508 117,012 22,026 47,764 44,894 231,696 75,826 86,557 162,383 394,079 8,658 6,939 39,244 6,928 2,540 3,884 50,531 118,724 22,651 50,501 45,043 236,918 81,645 81,323 162,968 399,886 8,269 9,026 37,526 5,049 2,495 4,498 47,766 114,629 21,893 50,965 47,499 234,985 76,759 87,759 164,518 399,502 7,406 8,224 39,114 5,939 2,756 5,559 50,327 119,326 22,287 48,604 51,813 242,030 74,811 97,050 171,861 413,891 2,462 355 5,314 215 1,036 449 3,869 13,701 4,209 3,364 757 22,032 4,582 14,749 19,331 41,362 2,692 422 4,729 257 1,170 383 4,267 13,921 4,624 3,431 924 22,900 4,567 13,675 18,242 41,141 2,630 572 4,745 176 1,114 532 3,875 13,644 4,726 3,677 841 22,887 4,862 13,216 18,078 40,965 2,508 547 4,463 152 1,064 486 3,612 12,831 4,677 4,224 994 22,726 3,928 14,707 18,635 41,360 2,152 478 4,736 183 1,133 526 3,647 12,855 4,532 4,020 924 22,331 4,684 15,011 19,695 42,026 12,164 12,884 11,832 12,677 11,963 62,011 57,284 52,199 55,007 54,949 13,993 13,488 13,006 14,425 15,095 (percent of total assets) (percent of total assets) (percent of total assets) 12.8 27.9 20.8 65.5 28.0 10.3 30.4 17.7 49.7 50.3 12.8 27.9 20.6 65.4 28.4 9.6 29.3 17.3 49.0 51.0 13.0 27.0 21.0 64.5 29.6 9.4 30.0 19.2 51.4 48.6 11.1 28.5 21.4 64.6 29.3 10.0 29.8 18.0 49.3 50.7 11.8 28.5 20.6 64.2 30.5 10.4 30.1 18.5 49.8 50.2 7.3 18.3 13.7 45.2 18.5 5.9 29.2 17.5 57.7 42.3 7.5 17.7 13.3 44.2 18.5 6.1 29.7 17.7 58.8 41.2 7.6 16.6 12.5 42.7 18.6 5.5 29.7 18.3 59.2 40.8 7.4 16.4 12.7 42.5 18.4 6.1 28.7 18.2 58.8 41.2 7.3 16.7 12.2 42.1 17.8 5.8 28.8 17.1 58.5 41.5 12.5 25.4 25.6 67.0 27.2 10.4 33.1 18.3 53.3 46.7 12.2 25.5 25.5 66.6 27.6 11.3 33.8 19.6 55.7 44.3 12.2 24.1 25.1 65.1 29.2 11.8 33.3 20.5 55.9 44.1 14.1 24.2 24.1 65.9 28.2 11.1 31.0 21.5 54.9 45.1 13.7 24.9 24.2 66.5 28.2 10.2 30.6 20.3 53.1 46.9 41 U.S. Census Bureau TABLE 11.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 36 AND 37 Electrical and Electronic Equipment1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 4.2 88.6 7.2 1.4 (0.2) 5.6 2.2 3.4 100.0 4.2 88.7 7.1 1.5 4.1 9.7 2.7 7.1 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 112,518 4,699 99,688 8,131 1,616 (217) 6,297 2,432 3,865 2,531 1,334 142,367 (2,611) 141,090 116,573 4,928 103,378 8,267 1,743 4,809 11,333 3,097 8,236 2,528 5,708 138,425 (2,062) 142,071 123,019 4,919 106,346 11,754 1,894 3,993 13,854 3,545 10,308 2,879 7,430 143,753 45 151,228 116,188 4,927 102,212 9,049 1,922 4,078 11,204 3,271 7,933 2,529 5,404 147,680 (1,786) 151,298 120,248 4,902 104,108 11,239 2,168 2,312 11,383 3,438 7,945 2,142 5,804 145,750 (1,236) 150,318 (percent of net sales) 100.0 4.0 86.4 9.6 1.5 3.2 11.3 2.9 8.4 100.0 4.2 88.0 7.8 1.7 3.5 9.6 2.8 6.8 100.0 4.1 86.6 9.3 1.8 1.9 9.5 2.9 6.6 11.04 6.77 5.45 3.34 19.63 14.27 9.48 6.89 22.84 16.99 11.18 8.32 18.09 12.81 8.81 6.24 18.01 12.57 8.91 6.22 1.42 0.26 2.44 1.38 0.26 2.28 1.44 0.27 2.32 1.50 0.29 2.20 1.49 0.28 2.29 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 42 U.S. Census Bureau Electrical and Electronic Equipment Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Transportation Equipment1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Transportation Equipment Assets Under $25 Million 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 10,248 240 9,325 684 118 37 602 119 484 499 (15) 5,574 (49) 5,510 10,365 234 9,463 667 126 (5) 536 74 462 238 224 4,741 4 4,969 9,758 217 9,295 246 115 23 154 74 80 264 (184) 3,917 (4) 3,730 9,534 216 8,610 708 121 8 596 82 514 328 186 3,591 (124) 3,653 9,778 210 9,022 546 115 40 471 45 426 358 68 3,466 15 3,549 139,364 4,746 127,229 7,389 1,798 5,020 10,611 2,504 8,107 2,474 5,632 84,443 895 90,970 (million dollars) 131,280 4,643 120,889 5,748 1,841 2,296 6,202 1,634 4,568 2,215 2,353 91,589 (169) 93,774 155,418 4,927 142,679 7,813 1,842 3,767 9,738 2,892 6,846 3,790 3,056 93,187 (179) 96,064 151,083 4,531 136,267 10,285 1,777 7,705 16,213 4,934 11,279 3,201 8,078 94,962 (584) 102,456 164,956 5,204 148,438 11,313 2,097 6,056 15,272 4,158 11,114 2,371 8,743 105,594 (5,139) 109,198 5,314 94 4,673 546 58 (12) 476 58 419 234 185 2,387 (25) 2,547 (million dollars) 4,934 100 4,505 330 61 7 276 61 215 143 72 2,413 (72) 2,413 4,812 101 4,403 308 73 31 266 65 202 146 55 2,654 (14) 2,694 4,857 94 4,304 460 69 1 392 56 336 135 201 1,815 (21) 1,994 5,641 91 4,896 653 72 28 609 74 535 307 228 2,361 47 2,636 (percent of net sales) 100.0 2.3 91.0 6.7 1.2 0.4 5.9 1.2 4.7 100.0 2.3 91.3 6.4 1.2 0.0 5.2 0.7 4.5 (percent) 100.0 2.2 95.2 2.5 1.2 0.2 1.6 0.8 0.8 100.0 2.3 90.3 7.4 1.3 0.1 6.2 0.9 5.4 100.0 2.1 92.3 5.6 1.2 0.4 4.8 0.5 4.4 100.0 3.4 91.3 5.3 1.3 3.6 7.6 1.8 5.8 (percent of net sales) 100.0 3.5 92.1 4.4 1.4 1.7 4.7 1.2 3.5 (percent) 100.0 3.2 91.8 5.0 1.2 2.4 6.3 1.9 4.4 100.0 3.0 90.2 6.8 1.2 5.1 10.7 3.3 7.5 100.0 3.2 90.0 6.9 1.3 3.7 9.3 2.5 6.7 100.0 1.8 87.9 10.3 1.1 (0.2) 9.0 1.1 7.9 (percent of net sales) 100.0 2.0 91.3 6.7 1.2 0.1 5.6 1.2 4.4 (percent) 100.0 2.1 91.5 6.4 1.5 0.7 5.5 1.3 4.2 100.0 1.9 88.6 9.5 1.4 0.0 8.1 1.1 6.9 100.0 1.6 86.8 11.6 1.3 0.5 10.8 1.3 9.5 26.96 21.64 12.27 9.85 23.71 20.43 10.50 9.04 7.73 4.03 3.38 1.76 29.44 25.40 12.72 10.97 23.42 21.19 10.10 9.14 32.03 24.47 8.42 6.43 18.39 13.55 4.81 3.55 28.65 20.14 7.42 5.21 45.94 31.96 11.90 8.28 38.85 28.27 10.71 7.79 54.01 47.46 21.92 19.26 32.78 25.54 12.84 10.01 28.20 21.36 12.22 9.26 51.29 43.99 17.86 15.31 67.96 59.70 27.17 23.87 2.20 0.33 1.48 1.96 0.35 1.43 1.97 0.32 1.43 1.91 0.32 1.35 1.94 0.31 1.39 1.03 0.18 1.70 1.03 0.17 1.69 1.06 0.19 1.63 1.05 0.19 1.63 1.06 0.18 1.61 1.71 0.29 1.37 1.89 0.35 1.22 1.87 0.33 1.38 1.73 0.23 0.95 1.86 0.30 1.13 43 U.S. Census Bureau TABLE 11.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 36 AND 37 Electrical and Electronic Equipment1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 13,753 5,475 19,228 14,050 33,279 66,749 58,753 23,182 181,963 195,920 3,699 104,135 95,484 185,147 462,594 14,310 6,991 21,301 14,000 35,301 67,353 61,229 24,275 188,158 198,159 4,039 105,259 96,939 193,214 478,311 13,796 6,566 20,362 16,082 36,444 70,062 59,850 26,746 193,101 197,718 4,188 106,000 95,906 206,455 495,462 17,482 7,822 25,304 14,034 39,338 70,140 63,072 27,847 200,397 201,436 4,585 109,630 96,390 212,031 508,818 17,315 8,264 25,579 12,727 38,307 74,303 64,044 26,028 202,682 194,236 4,184 106,097 92,323 216,092 511,097 6,323 22,663 31,916 4,988 1,429 1,887 59,297 128,503 18,057 43,318 44,451 234,328 87,176 141,090 228,266 462,594 7,226 24,057 33,009 6,058 1,832 1,840 62,407 136,429 22,029 44,338 44,594 247,390 88,850 142,071 230,921 478,311 6,071 20,585 33,661 6,732 1,669 1,331 63,946 133,995 25,317 49,641 43,865 252,819 91,415 151,228 242,643 495,462 6,598 21,390 34,517 7,612 1,609 1,722 60,454 133,901 25,709 55,365 46,160 261,135 96,384 151,298 247,683 508,818 6,671 19,846 36,318 6,517 1,746 2,071 63,094 136,264 25,180 55,009 41,862 258,315 102,464 150,318 252,782 511,097 53,460 51,729 59,106 66,496 66,418 (percent of total assets) 7.2 14.4 12.7 39.3 20.6 7.0 27.8 13.3 50.7 49.3 7.4 14.1 12.8 39.3 20.3 7.3 28.5 13.9 51.7 48.3 7.4 14.1 12.1 39.0 19.4 6.0 27.0 15.1 51.0 49.0 7.7 13.8 12.4 39.4 18.9 6.2 26.3 15.9 51.3 48.7 7.5 14.5 12.5 39.7 18.1 5.9 26.7 15.7 50.5 49.5 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 44 U.S. Census Bureau Electrical and Electronic Equipment Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Transportation Equipment1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 Transportation Equipment Assets Under $25 Million 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 1,481 222 1,703 461 2,164 5,809 5,688 620 14,282 10,290 220 6,134 4,376 988 19,646 1,936 180 2,116 468 2,583 5,652 5,566 733 14,534 10,589 268 6,065 4,793 1,096 20,423 1,573 118 1,691 434 2,125 4,894 5,178 696 12,893 9,816 196 5,774 4,239 1,095 18,227 1,610 145 1,755 408 2,164 5,037 5,098 610 12,909 10,318 216 5,886 4,648 1,181 18,737 1,571 95 1,666 481 2,146 5,386 5,322 598 13,453 9,470 125 5,583 4,013 1,181 18,646 5,033 7,422 12,455 20,848 33,303 43,826 82,621 27,872 187,623 226,783 3,583 119,311 111,055 205,284 503,961 (million dollars) 4,701 8,479 13,180 19,226 32,406 46,066 87,889 28,708 195,069 230,239 3,577 121,209 112,606 207,703 515,378 5,922 7,132 13,054 22,543 35,597 46,806 81,906 35,602 199,910 234,288 3,829 121,855 116,262 208,944 525,117 9,207 5,243 14,450 22,890 37,340 50,400 83,652 37,988 209,381 237,561 3,878 124,394 117,045 218,390 544,816 9,148 3,156 12,304 23,848 36,153 58,180 84,034 35,363 213,729 242,399 4,128 127,285 119,242 237,529 570,500 723 58 781 221 1,002 2,039 2,385 456 5,882 4,481 108 2,265 2,325 486 8,692 (million dollars) 745 100 846 259 1,105 1,939 2,375 490 5,909 4,683 89 2,368 2,404 285 8,597 594 134 729 288 1,016 1,861 2,519 437 5,833 5,076 186 2,727 2,536 349 8,718 521 99 620 174 794 1,995 2,715 470 5,974 5,094 143 2,755 2,483 321 8,778 629 143 771 235 1,007 2,154 2,614 391 6,166 5,283 89 2,917 2,455 341 8,962 1,220 298 2,827 114 389 252 1,392 6,492 1,818 2,064 333 10,708 3,428 5,510 8,938 19,646 1,473 400 3,013 60 458 355 1,656 7,415 1,934 1,716 317 11,382 4,071 4,969 9,041 20,423 1,289 363 2,730 87 346 261 1,481 6,558 1,787 1,541 361 10,247 4,250 3,730 7,980 18,227 1,316 518 2,658 64 388 394 1,430 6,768 2,045 1,347 484 10,643 4,442 3,653 8,095 18,737 1,624 205 2,893 (21) 332 288 1,620 6,941 1,894 1,426 344 10,605 4,493 3,549 8,042 18,646 3,786 5,133 48,847 6,166 1,020 1,970 115,590 182,512 17,874 47,996 123,068 371,449 41,542 90,970 132,512 503,961 3,712 5,051 51,464 5,773 1,286 1,598 120,085 188,969 18,697 49,464 123,376 380,505 41,099 93,774 134,873 515,378 3,955 7,259 53,742 5,496 1,510 1,897 114,019 187,878 21,442 47,484 132,359 389,162 39,891 96,064 135,955 525,117 6,085 6,248 57,311 7,548 1,773 1,984 117,737 198,686 21,357 49,185 134,437 403,665 38,695 102,456 141,151 544,816 5,538 7,283 60,573 7,277 1,879 1,780 117,979 202,309 23,012 58,388 129,551 413,259 48,042 109,198 157,240 570,500 544 143 1,151 92 209 135 1,162 3,436 813 729 186 5,164 981 2,547 3,528 8,692 555 113 1,089 48 199 63 1,051 3,118 707 1,119 285 5,229 955 2,413 3,368 8,597 716 135 1,116 71 188 98 792 3,116 710 890 224 4,940 1,083 2,694 3,778 8,718 914 107 1,292 62 154 120 811 3,460 765 1,153 344 5,722 1,061 1,994 3,056 8,778 813 312 1,253 32 162 129 619 3,320 688 1,080 291 5,379 947 2,636 3,582 8,962 7,790 7,119 6,335 6,141 6,512 5,111 6,100 12,033 10,695 11,420 2,446 2,790 2,717 2,514 2,846 (percent of total assets) (percent of total assets) (percent of total assets) 11.0 29.6 29.0 72.7 22.3 11.0 33.0 19.8 54.5 45.5 12.6 27.7 27.3 71.2 23.5 13.2 36.3 17.9 55.7 44.3 11.7 26.9 28.4 70.7 23.3 12.4 36.0 18.3 56.2 43.8 11.5 26.9 27.2 68.9 24.8 14.0 36.1 18.1 56.8 43.2 11.5 28.9 28.5 72.1 21.5 13.1 37.2 17.8 56.9 43.1 6.6 8.7 16.4 37.2 22.0 2.4 36.2 13.1 73.7 26.3 6.3 8.9 17.1 37.8 21.8 2.3 36.7 13.2 73.8 26.2 6.8 8.9 15.6 38.1 22.1 2.8 35.8 13.1 74.1 25.9 6.9 9.3 15.4 38.4 21.5 3.0 36.5 12.9 74.1 25.9 6.3 10.2 14.7 37.5 20.9 2.9 35.5 14.3 72.4 27.6 11.5 23.5 27.4 67.7 26.7 11.9 39.5 17.7 59.4 40.6 12.8 22.6 27.6 68.7 28.0 10.8 36.3 21.2 60.8 39.2 11.7 21.3 28.9 66.9 29.1 13.0 35.7 18.4 56.7 43.3 9.0 22.7 30.9 68.1 28.3 14.8 39.4 21.9 65.2 34.8 11.2 24.0 29.2 68.8 27.4 15.8 37.0 19.7 60.0 40.0 45 U.S. Census Bureau TABLE 12.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC INDUSTRY GROUPS 371 AND 372, 6 Motor Vehicles and Equipment1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.7 92.4 3.9 1.1 4.7 7.4 1.5 5.9 100.0 4.0 93.9 2.1 1.2 2.1 2.9 0.6 2.3 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Transportation Equipment. 2 Prior quarters’ data are revised to reflect 3 2 4Q 1998 1Q 1999 2Q 1999 92,503 3,429 85,494 3,580 1,011 4,309 6,878 1,420 5,458 1,407 4,051 45,333 941 50,325 84,823 3,394 79,651 1,777 1,056 1,777 2,498 546 1,952 1,650 303 50,812 (154) 50,961 102,725 3,687 94,405 4,632 979 3,190 6,843 1,869 4,974 2,996 1,978 50,787 (409) 52,357 103,578 3,363 93,827 6,387 1,042 4,505 9,851 3,061 6,790 2,616 4,174 51,704 15 55,893 115,228 3,845 104,180 7,203 1,344 4,261 10,120 2,972 7,149 1,362 5,787 59,769 (5,064) 60,492 (percent of net sales) 100.0 3.6 91.9 4.5 1.0 3.1 6.7 1.8 4.8 100.0 3.2 90.6 6.2 1.0 4.3 9.5 3.0 6.6 100.0 3.3 90.4 6.3 1.2 3.7 8.8 2.6 6.2 34.46 27.35 8.91 7.07 12.34 9.64 3.19 2.49 33.32 24.22 8.38 6.09 45.88 31.63 11.39 7.85 41.06 29.00 10.89 7.69 0.87 0.27 2.09 0.89 0.26 2.08 0.97 0.28 2.00 0.96 0.28 1.89 0.94 0.25 1.71 additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 46 U.S. Census Bureau Motor Vehicles and Equipment Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 Aircraft, Guided Missiles, and Parts1 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 Aircraft, Guided Missiles, and Parts Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 2,402 35 2,120 246 24 (16) 207 23 184 63 120 1,264 (4) 1,380 2,231 40 2,040 152 18 (14) 120 19 101 89 12 1,443 (11) 1,444 2,280 47 1,996 237 20 29 246 39 207 87 120 1,470 (20) 1,569 2,487 45 2,215 227 30 (5) 192 29 163 94 69 1,168 (7) 1,229 2,539 47 2,250 242 29 20 233 37 196 142 54 1,076 39 1,169 38,323 1,112 34,316 2,895 632 668 2,931 825 2,106 857 1,249 31,900 (40) 33,109 (million dollars) 37,332 1,036 33,191 3,105 633 518 2,991 866 2,125 454 1,671 32,608 41 34,320 43,272 1,044 39,373 2,855 711 536 2,679 824 1,855 693 1,162 33,887 (6) 35,043 38,115 970 34,138 3,006 605 3,147 5,548 1,787 3,761 476 3,285 34,752 (494) 37,543 39,411 1,146 35,230 3,035 593 1,525 3,967 874 3,093 775 2,319 36,424 (123) 38,619 1,149 30 976 143 17 6 132 11 121 128 (7) 871 (27) 838 (million dollars) 926 28 840 58 16 12 55 39 16 14 1 363 (57) 306 944 25 830 90 28 3 65 20 45 14 31 105 10 147 660 19 572 68 15 2 55 19 37 6 30 (186) 19 (137) 876 12 705 159 17 (13) 130 22 108 59 49 (20) (5) 25 (percent of net sales) 100.0 1.5 88.3 10.2 1.0 (0.7) 8.6 0.9 7.7 100.0 1.8 91.4 6.8 0.8 (0.6) 5.4 0.9 4.5 (percent) 100.0 2.1 87.5 10.4 0.9 1.3 10.8 1.7 9.1 100.0 1.8 89.1 9.1 1.2 (0.2) 7.7 1.2 6.5 100.0 1.8 88.6 9.5 1.1 0.8 9.2 1.5 7.7 100.0 2.9 89.5 7.6 1.7 1.7 7.6 2.2 5.5 (percent of net sales) 100.0 2.8 88.9 8.3 1.7 1.4 8.0 2.3 5.7 (percent) 100.0 2.4 91.0 6.6 1.6 1.2 6.2 1.9 4.3 100.0 2.5 89.6 7.9 1.6 8.3 14.6 4.7 9.9 100.0 2.9 89.4 7.7 1.5 3.9 10.1 2.2 7.8 100.0 2.6 85.0 12.4 1.4 0.5 11.5 0.9 10.6 (percent of net sales) 100.0 3.0 90.7 6.3 1.7 1.3 5.9 4.2 1.7 (percent) 100.0 2.6 87.9 9.5 2.9 0.3 6.9 2.1 4.8 100.0 2.9 86.8 10.3 2.3 0.3 8.4 2.8 5.6 100.0 1.4 80.5 18.2 1.9 (1.5) 14.8 2.5 12.3 53.41 47.54 24.48 21.79 30.12 25.34 14.36 12.08 57.13 48.06 26.51 22.30 55.07 46.66 19.75 16.73 68.09 57.33 24.49 20.62 27.27 19.60 7.31 5.25 27.49 19.53 7.31 5.20 24.88 17.23 6.61 4.58 50.29 34.10 13.86 9.40 34.00 26.51 9.92 7.74 46.61 42.79 22.36 20.52 25.72 7.33 9.21 2.63 32.65 22.71 12.27 8.54 42.87 28.38 12.41 8.22 79.02 65.86 27.65 23.04 1.80 0.22 1.61 1.98 0.34 1.89 1.87 0.25 1.67 1.80 0.16 1.02 1.69 0.18 1.01 1.21 0.08 1.31 1.19 0.06 1.29 1.17 0.06 1.22 1.16 0.06 1.31 1.22 0.07 1.42 2.20 0.57 1.88 1.96 0.42 0.94 1.84 0.34 1.05 1.51 0.24 0.70 1.94 0.31 0.84 47 U.S. Census Bureau TABLE 12.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC INDUSTRY GROUPS 371 AND 372, 6 Motor Vehicles and Equipment1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Transportation Equipment. 2 Prior quarters’ data are revised to reflect 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 2,694 7,077 9,771 16,770 26,541 19,487 21,238 18,376 85,642 154,441 1,522 77,732 78,231 144,831 308,704 2,615 7,542 10,157 16,407 26,564 21,887 22,145 19,094 89,690 156,340 1,507 78,934 78,913 144,823 313,425 3,402 6,636 10,038 19,523 29,561 24,066 21,408 26,162 101,198 159,745 1,699 79,271 82,173 143,151 326,522 7,300 4,501 11,801 19,999 31,800 26,289 22,687 28,401 109,177 162,624 1,777 81,397 83,005 153,678 345,859 6,911 2,664 9,575 20,477 30,052 34,156 24,512 26,074 114,794 168,494 2,014 84,979 85,529 171,559 371,883 3,057 2,158 33,852 3,567 501 258 55,373 98,766 11,452 20,833 97,825 228,875 29,504 50,325 79,829 308,704 2,648 2,093 36,897 2,566 686 214 56,128 101,233 11,720 21,658 97,812 232,423 30,041 50,961 81,002 313,425 2,515 3,193 38,986 2,974 863 188 55,438 104,157 12,481 21,929 105,799 244,366 29,799 52,357 82,156 326,522 3,968 2,002 43,004 4,106 1,049 228 59,209 113,566 13,954 24,204 108,258 259,982 29,984 55,893 85,877 345,859 3,703 4,951 46,401 4,354 1,233 721 60,453 121,817 15,524 31,685 104,259 273,285 38,107 60,492 98,598 371,883 (13,124) (11,543) (2,959) (4,390) (7,023) (percent of total assets) 8.6 6.3 6.9 27.7 25.3 1.9 32.0 10.5 74.1 25.9 8.5 7.0 7.1 28.6 25.2 1.8 32.3 10.6 74.2 25.8 9.1 7.4 6.6 31.0 25.2 2.1 31.9 10.5 74.8 25.2 9.2 7.6 6.6 31.6 24.0 2.1 32.8 11.0 75.2 24.8 8.1 9.2 6.6 30.9 23.0 2.9 32.8 12.7 73.5 26.5 additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 48 U.S. Census Bureau Motor Vehicles and Equipment Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 Aircraft, Guided Missiles, and Parts1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 Aircraft, Guided Missiles, and Parts Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 251 9 259 13 272 930 969 87 2,259 1,736 18 732 1,022 93 3,375 331 14 345 48 393 871 925 83 2,273 1,729 29 782 976 81 3,330 237 10 246 78 324 876 1,118 114 2,432 2,093 31 974 1,150 135 3,717 190 10 200 42 242 1,051 1,296 106 2,694 2,177 27 1,113 1,090 100 3,885 214 14 229 52 281 1,025 1,225 84 2,615 2,219 38 1,195 1,062 134 3,811 1,527 190 1,716 3,482 5,198 19,985 48,899 7,493 81,576 59,101 1,694 34,796 25,998 52,890 160,464 (million dollars) 1,290 843 2,133 2,223 4,355 19,419 50,639 7,319 81,733 59,935 1,644 35,176 26,403 55,468 163,604 1,706 212 1,918 2,364 4,283 18,458 47,069 7,730 77,540 60,450 1,622 35,351 26,721 57,779 162,040 1,048 555 1,603 2,343 3,946 19,087 46,051 7,368 76,453 60,627 1,610 35,646 26,591 57,079 160,122 1,110 349 1,459 2,746 4,205 19,333 44,358 7,483 75,379 59,469 1,680 34,766 26,383 58,150 159,912 326 11 337 104 441 529 688 42 1,699 1,350 20 868 502 164 2,366 (million dollars) 226 10 236 118 353 433 735 137 1,658 1,271 18 739 550 161 2,368 180 42 222 55 277 434 654 137 1,502 1,178 33 741 470 138 2,110 142 7 149 39 188 388 572 58 1,206 984 12 550 446 131 1,783 146 19 165 37 202 479 538 37 1,256 1,151 19 632 538 82 1,875 310 84 454 49 72 17 268 1,255 286 190 98 1,828 166 1,380 1,547 3,375 191 96 452 28 75 25 282 1,149 166 287 141 1,743 143 1,444 1,587 3,330 330 63 545 41 34 16 273 1,302 186 404 100 1,993 156 1,569 1,725 3,717 370 32 717 24 33 19 302 1,498 310 598 86 2,491 164 1,229 1,393 3,885 419 24 660 14 84 48 298 1,547 221 554 118 2,440 201 1,169 1,370 3,811 451 2,631 11,718 2,775 383 1,130 48,164 67,252 4,144 23,970 22,115 117,480 9,874 33,109 42,984 160,464 611 2,680 11,386 3,057 497 1,016 49,196 68,443 4,647 24,271 22,719 120,080 9,204 34,320 43,524 163,604 653 3,525 11,634 2,429 509 1,589 45,708 66,046 6,565 22,372 23,987 118,971 8,027 35,043 43,069 162,040 1,173 3,550 10,749 3,321 624 1,568 44,834 65,818 5,056 21,726 23,398 115,997 6,582 37,543 44,125 160,122 971 1,819 10,976 2,741 547 898 43,993 61,946 5,125 23,571 22,602 113,244 8,049 38,619 46,668 159,912 121 3 199 27 63 14 347 773 262 140 55 1,231 297 838 1,135 2,366 149 3 238 17 97 22 322 847 280 351 42 1,520 542 306 848 2,368 107 28 246 18 92 72 256 818 259 196 44 1,317 646 147 793 2,110 120 38 185 28 68 89 270 799 207 212 49 1,267 653 (137) 516 1,783 109 46 230 9 35 63 157 649 295 233 42 1,219 631 25 656 1,875 1,004 1,124 1,130 1,196 1,068 14,324 13,290 11,494 10,634 13,434 926 810 684 407 607 (percent of total assets) (percent of total assets) (percent of total assets) 8.1 27.6 28.7 66.9 30.3 14.3 37.2 14.1 54.2 45.8 11.8 26.2 27.8 68.3 29.3 11.6 34.5 13.6 52.3 47.7 8.7 23.6 30.1 65.4 30.9 11.9 35.0 15.9 53.6 46.4 6.2 27.1 33.4 69.4 28.1 11.7 38.6 23.4 64.1 35.9 7.4 26.9 32.1 68.6 27.9 15.1 40.6 20.3 64.0 36.0 3.2 12.5 30.5 50.8 16.2 2.9 41.9 17.5 73.2 26.8 2.7 11.9 31.0 50.0 16.1 2.9 41.8 17.7 73.4 26.6 2.6 11.4 29.0 47.9 16.5 3.9 40.8 17.9 73.4 26.6 2.5 11.9 28.8 47.7 16.6 4.3 41.1 16.7 72.4 27.6 2.6 12.1 27.7 47.1 16.5 2.6 38.7 17.9 70.8 29.2 18.6 22.4 29.1 71.8 21.2 8.5 32.7 17.0 52.0 48.0 14.9 18.3 31.0 70.0 23.2 11.4 35.8 26.6 64.2 35.8 13.1 20.6 31.0 71.2 22.3 14.2 38.8 21.6 62.4 37.6 10.6 21.7 32.1 67.6 25.0 17.7 44.8 23.5 71.0 29.0 10.8 25.5 28.7 67.0 28.7 13.5 34.6 28.2 65.0 35.0 49 U.S. Census Bureau TABLE 13.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 38 AND OTHER DURABLE MANUFACTURING INDUSTRIES Instruments and Related Products Item 2Q 1998 3Q 1998 4Q 19982 1Q 1999 2 2Q 1999 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 4.4 83.5 12.1 2.4 (2.0) 7.7 3.3 4.4 100.0 4.9 85.2 10.0 2.8 0.5 7.6 3.1 4.5 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 29,769 1,297 24,855 3,617 726 (593) 2,298 981 1,317 1,093 224 42,575 80 42,879 29,243 1,419 24,912 2,912 824 133 2,221 910 1,312 1,574 (262) 43,167 (170) 42,735 29,566 1,689 25,020 2,858 800 434 2,492 887 1,605 929 676 43,392 (91) 43,977 27,758 1,225 23,950 2,584 824 774 2,533 773 1,761 853 907 42,332 (778) 42,462 29,663 1,229 25,097 3,337 808 1,054 3,583 954 2,629 1,091 1,538 39,834 (558) 40,814 (percent of net sales) 100.0 5.7 84.6 9.7 2.7 1.5 8.4 3.0 5.4 100.0 4.4 86.3 9.3 3.0 2.8 9.1 2.8 6.3 100.0 4.1 84.6 11.3 2.7 3.6 12.1 3.2 8.9 13.95 8.00 6.06 3.47 13.17 7.78 5.72 3.38 14.61 9.41 6.29 4.05 15.13 10.51 6.39 4.44 21.04 15.44 9.19 6.74 1.57 0.23 1.57 1.49 0.23 1.54 1.50 0.23 1.51 1.51 0.21 1.40 1.53 0.21 1.50 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 50 U.S. Census Bureau Instruments and Related Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 Other Durable Manufacturing Industries1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 Other Durable Manufacturing Industries Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 3,356 93 3,242 21 53 2 (30) 35 (65) 124 (189) (580) 13 (756) 3,604 96 3,431 78 54 37 60 57 4 87 (84) (337) (21) (442) 3,564 98 3,478 (12) 60 (12) (84) 36 (120) 146 (266) (1,001) (38) (1,305) 3,579 94 3,425 60 49 (9) 2 51 (49) 65 (114) (1,931) (45) (2,090) 3,693 108 3,539 45 52 (11) (18) 43 (61) 49 (110) (4,369) (42) (4,521) 44,533 1,130 39,997 3,406 655 449 3,200 875 2,325 935 1,390 36,248 (324) 37,314 (million dollars) 44,100 1,060 39,468 3,572 674 (318) 2,580 673 1,907 661 1,246 35,562 16 36,824 44,686 1,115 40,562 3,009 734 (148) 2,127 503 1,624 720 903 34,450 (219) 35,134 42,733 1,081 38,518 3,134 756 381 2,760 662 2,097 787 1,311 34,731 (220) 35,821 47,028 1,106 41,824 4,098 751 404 3,751 976 2,775 963 1,812 35,088 (616) 36,284 18,528 385 16,899 1,245 188 (35) 1,021 125 896 546 350 12,194 66 12,610 (million dollars) 18,836 404 17,009 1,424 221 (52) 1,151 135 1,016 378 638 12,324 39 13,001 18,907 399 17,557 950 240 (18) 693 88 605 420 185 11,212 (12) 11,385 17,245 381 15,590 1,274 289 55 1,040 88 952 485 467 10,354 (194) 10,627 19,817 406 17,671 1,739 256 (44) 1,439 188 1,251 638 613 10,728 (219) 11,122 (percent of net sales) 100.0 2.8 96.6 0.6 1.6 0.1 (0.9) 1.0 (1.9) 100.0 2.7 95.2 2.2 1.5 1.0 1.7 1.6 0.1 (percent) 100.0 2.8 97.6 (0.3) 1.7 (0.3) (2.3) 1.0 (3.4) 100.0 2.6 95.7 1.7 1.4 (0.3) 0.0 1.4 (1.4) 100.0 2.9 95.8 1.2 1.4 (0.3) (0.5) 1.2 (1.6) 100.0 2.5 89.8 7.6 1.5 1.0 7.2 2.0 5.2 (percent of net sales) 100.0 2.4 89.5 8.1 1.5 (0.7) 5.8 1.5 4.3 (percent) 100.0 2.5 90.8 6.7 1.6 (0.3) 4.8 1.1 3.6 100.0 2.5 90.1 7.3 1.8 0.9 6.5 1.5 4.9 100.0 2.4 88.9 8.7 1.6 0.9 8.0 2.1 5.9 100.0 2.1 91.2 6.7 1.0 (0.2) 5.5 0.7 4.8 (percent of net sales) 100.0 2.1 90.3 7.6 1.2 (0.3) 6.1 0.7 5.4 (percent) 100.0 2.1 92.9 5.0 1.3 (0.1) 3.7 0.5 3.2 100.0 2.2 90.4 7.4 1.7 0.3 6.0 0.5 5.5 100.0 2.1 89.2 8.8 1.3 (0.2) 7.3 0.9 6.3 (2.79) (6.03) (1.40) (3.03) 4.97 0.29 2.59 0.15 (9.38) (13.40) (3.85) (5.50) 0.19 (5.16) 0.08 (2.23) (2.02) (6.99) (0.81) (2.80) 26.75 19.44 11.91 8.65 21.52 15.91 9.20 6.80 18.48 14.11 7.73 5.90 24.21 18.40 9.88 7.51 33.36 24.68 12.96 9.59 28.82 25.28 13.58 11.91 30.77 27.15 13.97 12.32 19.95 17.41 8.69 7.58 32.11 29.39 13.03 11.93 43.46 37.79 17.33 15.07 2.60 0.66 1.89 2.40 0.57 2.16 2.13 0.48 1.43 2.11 0.51 1.70 2.02 0.50 1.34 1.88 0.26 1.39 1.73 0.23 1.29 1.77 0.25 1.25 1.77 0.24 1.17 1.72 0.24 1.11 2.08 0.27 1.37 2.10 0.29 1.23 2.04 0.33 1.16 1.89 0.30 0.99 1.97 0.31 0.98 51 U.S. Census Bureau TABLE 13.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 38 AND OTHER DURABLE MANUFACTURING INDUSTRIES Instruments and Related Products Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 3,464 451 3,915 4,853 8,768 21,343 18,931 9,739 58,780 58,401 1,271 31,828 27,845 65,173 151,798 3,740 250 3,990 5,127 9,117 21,674 18,783 10,002 59,576 58,516 1,207 32,001 27,722 67,948 155,246 4,411 355 4,766 4,512 9,278 21,996 18,492 10,671 60,436 58,798 1,155 32,141 27,811 70,144 158,391 3,947 740 4,687 3,652 8,339 21,624 18,269 11,002 59,234 59,090 1,058 32,272 27,876 71,409 158,519 4,037 551 4,589 3,301 7,890 21,611 17,806 10,559 57,865 58,383 1,098 32,075 27,406 70,698 155,970 2,732 4,206 7,484 3,133 2,268 1,042 16,645 37,510 19,255 12,424 16,719 85,909 23,010 42,879 65,889 151,798 2,314 6,181 7,451 3,142 2,384 1,105 17,407 39,985 19,720 12,226 15,868 87,799 24,712 42,735 67,447 155,246 2,033 5,974 8,023 2,522 2,604 940 18,269 40,364 22,099 11,633 16,071 90,167 24,247 43,977 68,224 158,391 3,448 5,258 7,986 2,550 3,118 392 16,391 39,141 23,436 12,239 16,720 91,537 24,520 42,462 66,982 158,519 2,855 5,314 7,747 2,527 2,991 496 15,977 37,907 22,059 11,757 16,127 87,850 27,306 40,814 68,120 155,970 21,271 19,591 20,071 20,092 19,958 (percent of total assets) 5.8 14.1 12.5 38.7 18.3 6.8 24.7 20.9 56.6 43.4 5.9 14.0 12.1 38.4 17.9 7.7 25.8 20.6 56.6 43.4 5.9 13.9 11.7 38.2 17.6 7.3 25.5 21.3 56.9 43.1 5.3 13.6 11.5 37.4 17.6 7.7 24.7 22.5 57.7 42.3 5.1 13.9 11.4 37.1 17.6 7.5 24.3 21.7 56.3 43.7 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 52 U.S. Census Bureau Instruments and Related Products Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 Other Durable Manufacturing Industries1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 Other Durable Manufacturing Industries Assets Under $25 Million 2Q 1998 3Q 1998 4Q 19982 1Q 19992 2Q 1999 (million dollars) 762 49 811 659 1,469 1,878 2,100 299 5,746 4,233 141 2,541 1,834 968 8,547 828 30 858 655 1,513 2,220 2,185 415 6,334 4,519 101 2,797 1,822 1,161 9,317 797 26 823 499 1,323 2,013 2,118 382 5,835 4,659 80 2,924 1,815 1,051 8,701 991 75 1,066 410 1,476 2,129 2,114 398 6,116 4,580 41 2,925 1,697 991 8,803 1,176 20 1,196 357 1,553 2,168 2,214 350 6,285 4,404 17 2,844 1,577 815 8,678 4,043 946 4,989 2,279 7,268 20,807 20,533 4,638 53,246 58,200 6,113 32,354 31,959 22,296 107,501 (million dollars) 4,225 970 5,195 2,018 7,214 21,853 20,833 4,967 54,867 58,210 6,312 32,651 31,870 25,468 112,205 4,563 1,061 5,624 2,137 7,761 20,963 20,090 5,184 53,998 57,233 5,767 31,874 31,126 24,927 110,052 4,192 934 5,125 2,173 7,298 21,667 19,845 4,880 53,690 58,726 5,765 32,586 31,906 26,154 111,750 4,844 932 5,776 2,168 7,944 22,733 20,677 5,566 56,920 57,823 5,633 32,244 31,212 27,648 115,780 1,688 430 2,118 484 2,602 7,716 8,612 1,220 20,150 20,574 935 12,935 8,574 1,355 30,079 (million dollars) 1,991 373 2,364 523 2,886 7,775 9,034 1,232 20,927 22,745 1,129 13,873 10,002 2,035 32,963 2,280 403 2,683 625 3,308 7,478 8,620 1,288 20,695 21,909 892 13,488 9,313 1,903 31,911 2,298 334 2,632 548 3,180 7,689 8,109 1,185 20,162 22,380 953 13,488 9,845 1,912 31,919 2,501 402 2,904 499 3,403 7,882 9,012 1,228 21,524 22,767 1,017 13,903 9,881 1,821 33,227 357 35 885 29 84 113 708 2,212 666 1,020 353 4,251 5,051 (756) 4,296 8,547 433 83 966 80 125 115 840 2,643 617 878 319 4,457 5,302 (442) 4,860 9,317 473 135 893 76 155 80 928 2,739 748 898 747 5,133 4,874 (1,305) 3,569 8,701 518 125 1,169 93 127 75 790 2,896 673 715 713 4,998 5,896 (2,090) 3,806 8,803 583 316 1,164 46 113 112 778 3,112 601 876 608 5,197 8,001 (4,521) 3,480 8,678 5,323 1,276 9,979 547 1,740 738 8,709 28,312 13,002 12,371 5,973 59,658 10,529 37,314 47,843 107,501 5,244 2,935 10,452 761 1,720 805 9,759 31,676 13,608 12,902 6,070 64,255 11,125 36,824 47,949 112,205 4,714 2,342 10,276 713 1,911 926 9,711 30,592 13,317 13,688 6,415 64,013 10,905 35,134 46,039 110,052 4,769 1,213 10,794 676 2,166 1,257 9,504 30,379 16,175 13,378 6,230 66,162 9,767 35,821 45,588 111,750 4,680 1,258 11,607 716 2,028 1,347 11,366 33,002 15,356 15,972 6,470 70,800 8,696 36,284 44,980 115,780 2,947 353 3,543 121 858 260 1,618 9,700 3,168 2,730 308 15,906 1,564 12,610 14,173 30,079 2,979 345 3,790 129 932 265 1,518 9,958 4,373 3,255 413 17,999 1,963 13,001 14,964 32,963 2,863 315 3,556 115 1,001 435 1,840 10,125 4,122 3,295 473 18,015 2,511 11,385 13,896 31,911 3,128 189 3,782 105 1,309 573 1,555 10,643 5,426 2,447 450 18,965 2,327 10,627 12,954 31,919 2,910 232 3,938 130 1,250 648 1,819 10,927 4,672 3,776 605 19,980 2,124 11,122 13,246 33,227 3,534 3,692 3,097 3,220 3,174 24,934 23,191 23,406 23,311 23,918 10,451 10,968 10,570 9,520 10,598 (percent of total assets) (percent of total assets) (percent of total assets) 17.2 22.0 24.6 67.2 21.5 6.9 25.9 19.7 49.7 50.3 16.2 23.8 23.5 68.0 19.6 8.1 28.4 16.0 47.8 52.2 15.2 23.1 24.3 67.1 20.9 9.7 31.5 18.9 59.0 41.0 16.8 24.2 24.0 69.5 19.3 9.6 32.9 15.8 56.8 43.2 17.9 25.0 25.5 72.4 18.2 13.0 35.9 17.0 59.9 40.1 6.8 19.4 19.1 49.5 29.7 8.4 26.3 23.6 55.5 44.5 6.4 19.5 18.6 48.9 28.4 9.5 28.2 23.6 57.3 42.7 7.1 19.0 18.3 49.1 28.3 9.0 27.8 24.5 58.2 41.8 6.5 19.4 17.8 48.0 28.6 8.4 27.2 26.4 59.2 40.8 6.9 19.6 17.9 49.2 27.0 8.0 28.5 27.1 61.2 38.8 8.7 25.7 28.6 67.0 28.5 14.7 32.2 19.6 52.9 47.1 8.8 23.6 27.4 63.5 30.3 13.7 30.2 23.1 54.6 45.4 10.4 23.4 27.0 64.9 29.2 14.5 31.7 23.2 56.5 43.5 10.0 24.1 25.4 63.2 30.8 16.3 33.3 24.7 59.4 40.6 10.2 23.7 27.1 64.8 29.7 15.2 32.9 25.4 60.1 39.9 53 U.S. Census Bureau TABLE 14.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 24 AND 25 Lumber and Wood Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 2.8 90.0 7.2 1.4 1.6 7.5 1.8 5.7 100.0 2.7 89.9 7.4 1.4 (2.2) 3.8 0.5 3.3 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Other Durable Manufacturing 2 Prior quarters’ data are revised to reflect 3 2 4Q 1998 1Q 1999 2Q 1999 17,868 507 16,080 1,281 242 294 1,333 321 1,011 378 634 14,969 (131) 15,472 18,069 486 16,248 1,335 251 (405) 679 90 589 318 272 15,104 28 15,404 16,690 484 15,406 800 252 42 590 183 406 264 142 13,800 (2) 13,940 17,138 483 15,354 1,301 325 127 1,103 159 944 308 635 13,413 (131) 13,917 19,446 481 17,070 1,895 272 83 1,706 325 1,381 447 934 13,336 (213) 14,056 (percent of net sales) 100.0 2.9 92.3 4.8 1.5 0.3 3.5 1.1 2.4 100.0 2.8 89.6 7.6 1.9 0.7 6.4 0.9 5.5 100.0 2.5 87.8 9.7 1.4 0.4 8.8 1.7 7.1 30.16 22.89 13.67 10.38 15.56 13.50 6.89 5.98 14.59 10.05 6.38 4.39 27.27 23.33 11.09 9.49 41.59 33.67 17.12 13.86 1.88 0.32 1.29 1.85 0.31 1.26 1.81 0.28 1.23 1.82 0.28 1.04 1.90 0.32 1.10 Industries. additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 54 U.S. Census Bureau Lumber and Wood Products Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Furniture and Fixtures1 3Q 1998 4Q 1998 2 Furniture and Fixtures Assets Under $25 Million1 2Q 1999 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 1Q 1999 (million dollars) 8,716 236 7,836 644 103 (29) 512 62 450 209 240 6,198 113 6,550 9,482 256 8,537 689 129 (38) 522 55 467 200 267 6,669 44 6,980 8,890 248 8,320 322 130 (58) 134 39 95 193 (98) 6,113 67 6,082 9,044 246 8,002 796 194 66 668 29 639 249 390 5,258 (99) 5,550 10,030 241 8,725 1,064 151 (2) 911 76 835 329 506 5,202 (189) 5,518 16,801 345 15,063 1,392 187 76 1,281 370 911 295 616 11,240 (119) 11,737 (million dollars) 16,286 308 14,608 1,369 201 (47) 1,122 376 746 148 598 11,025 (4) 11,619 17,246 353 15,610 1,283 217 31 1,098 313 785 304 481 11,430 (177) 11,734 16,629 370 15,015 1,245 216 50 1,079 326 753 234 518 12,148 (163) 12,503 17,761 361 15,955 1,445 254 84 1,275 411 864 180 684 12,306 (398) 12,592 5,732 81 5,275 377 38 3 342 43 299 194 105 3,412 (13) 3,504 (million dollars) 5,219 77 4,788 353 32 4 326 36 289 61 228 3,292 (6) 3,514 5,659 82 5,306 271 44 37 265 32 233 167 66 3,447 (69) 3,443 4,463 72 4,135 256 40 (16) 200 35 165 141 24 2,994 (96) 2,922 5,304 76 4,870 358 50 (18) 290 42 248 100 148 3,132 18 3,298 (percent of net sales) 100.0 2.7 89.9 7.4 1.2 (0.3) 5.9 0.7 5.2 100.0 2.7 90.0 7.3 1.4 (0.4) 5.5 0.6 4.9 (percent) 100.0 2.8 93.6 3.6 1.5 (0.7) 1.5 0.4 1.1 100.0 2.7 88.5 8.8 2.1 0.7 7.4 0.3 7.1 100.0 2.4 87.0 10.6 1.5 0.0 9.1 0.8 8.3 100.0 2.1 89.7 8.3 1.1 0.5 7.6 2.2 5.4 (percent of net sales) 100.0 1.9 89.7 8.4 1.2 (0.3) 6.9 2.3 4.6 (percent) 100.0 2.0 90.5 7.4 1.3 0.2 6.4 1.8 4.6 100.0 2.2 90.3 7.5 1.3 0.3 6.5 2.0 4.5 100.0 2.0 89.8 8.1 1.4 0.5 7.2 2.3 4.9 100.0 1.4 92.0 6.6 0.7 0.1 6.0 0.8 5.2 (percent of net sales) 100.0 1.5 91.8 6.8 0.6 0.1 6.2 0.7 5.5 (percent) 100.0 1.5 93.8 4.8 0.8 0.7 4.7 0.6 4.1 100.0 1.6 92.6 5.7 0.9 (0.4) 4.5 0.8 3.7 100.0 1.4 91.8 6.8 0.9 (0.3) 5.5 0.8 4.7 28.37 24.91 14.38 12.62 27.10 24.23 12.60 11.27 7.69 5.45 3.48 2.47 42.40 40.58 15.91 15.23 57.43 52.62 21.49 19.68 31.11 22.13 13.86 9.86 26.60 17.69 11.44 7.60 26.45 18.92 10.79 7.72 25.28 17.64 10.61 7.40 30.56 20.71 11.70 7.93 36.11 31.56 16.77 14.66 34.47 30.61 16.50 14.65 27.18 23.88 12.39 10.89 24.23 20.03 11.65 9.63 32.15 27.51 14.82 12.68 2.03 0.30 1.43 2.08 0.34 1.17 1.88 0.31 1.13 1.85 0.30 0.77 2.00 0.34 0.78 1.96 0.23 1.50 1.77 0.19 1.39 1.65 0.20 1.24 1.67 0.19 1.37 1.61 0.17 1.15 2.58 0.35 1.45 2.54 0.37 1.53 2.40 0.40 1.34 1.92 0.34 1.68 2.13 0.36 1.55 55 U.S. Census Bureau TABLE 14.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUPS 24 AND 25 Lumber and Wood Products1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Other Durable Manufacturing 2 Prior quarters’ data are revised to reflect 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 1,714 250 1,964 1,299 3,263 6,310 7,663 1,743 18,980 25,159 5,150 15,449 14,861 5,150 38,991 1,855 345 2,200 958 3,158 6,141 8,186 1,661 19,146 24,969 5,285 15,357 14,898 5,371 39,415 1,514 377 1,891 877 2,768 5,386 7,895 1,920 17,969 23,817 4,833 14,606 14,044 4,985 36,998 1,560 365 1,925 986 2,911 6,480 7,557 1,935 18,884 25,576 4,835 14,860 15,551 5,360 39,794 1,721 450 2,171 1,115 3,286 6,581 7,823 2,090 19,779 25,014 4,728 14,898 14,844 5,227 39,850 2,810 490 3,045 163 903 294 2,372 10,077 5,076 4,136 2,028 21,317 2,202 15,472 17,674 38,991 2,624 437 3,314 248 819 310 2,599 10,350 5,117 4,593 1,890 21,950 2,061 15,404 17,465 39,415 2,619 360 2,779 147 839 359 2,816 9,919 4,737 4,186 1,982 20,825 2,233 13,940 16,173 36,998 2,355 258 3,103 160 1,103 431 2,943 10,352 7,097 4,358 1,806 23,613 2,264 13,917 16,181 39,794 2,041 307 3,303 198 889 613 3,072 10,421 5,822 5,243 1,958 23,445 2,349 14,056 16,405 39,850 8,902 8,796 8,050 8,532 9,357 (percent of total assets) 8.4 16.2 19.7 48.7 38.1 11.5 25.8 23.6 54.7 45.3 8.0 15.6 20.8 48.6 37.8 10.6 26.3 24.6 55.7 44.3 7.5 14.6 21.3 48.6 38.0 11.3 26.8 24.1 56.3 43.7 7.3 16.3 19.0 47.5 39.1 10.4 26.0 28.8 59.3 40.7 8.2 16.5 19.6 49.6 37.2 9.7 26.2 27.8 58.8 41.2 Industries. additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 56 U.S. Census Bureau Lumber and Wood Products Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 2Q 1998 Furniture and Fixtures1 3Q 1998 4Q 1998 2 Furniture and Fixtures Assets Under $25 Million1 2Q 1999 2Q 1998 3Q 1998 4Q 1998 1Q 19993 2Q 1999 1Q 1999 (million dollars) 860 235 1,095 182 1,278 3,040 3,668 675 8,662 12,496 726 8,344 4,878 714 14,254 1,034 230 1,263 214 1,478 2,904 4,189 589 9,161 14,517 871 9,007 6,381 1,033 16,575 939 249 1,189 256 1,445 2,620 3,894 751 8,710 13,547 737 8,495 5,790 925 15,424 1,006 309 1,315 182 1,497 3,289 3,709 724 9,219 14,454 766 8,560 6,660 909 16,788 1,102 338 1,440 224 1,663 3,371 3,935 749 9,718 14,482 869 8,872 6,478 766 16,962 1,288 328 1,615 452 2,067 8,030 6,255 1,564 17,915 19,047 459 9,699 9,808 9,240 36,963 (million dollars) 1,267 304 1,571 454 2,025 8,656 6,174 1,765 18,621 19,414 478 9,973 9,919 10,692 39,232 1,401 327 1,728 634 2,362 8,774 6,269 1,724 19,129 19,572 505 10,035 10,042 11,524 40,696 1,357 228 1,585 535 2,120 8,865 6,198 1,630 18,814 20,400 506 10,719 10,187 11,692 40,693 1,369 258 1,627 457 2,084 9,645 6,244 1,890 19,863 20,343 515 10,385 10,473 13,257 43,594 542 93 635 181 817 2,323 2,498 316 5,954 4,318 80 2,437 1,961 251 8,166 (million dollars) 567 87 653 168 822 2,318 2,146 366 5,652 4,382 91 2,516 1,956 286 7,894 637 110 748 252 1,000 2,455 2,298 266 6,019 4,819 85 2,786 2,118 428 8,564 668 4 672 163 835 1,928 1,801 179 4,743 4,284 84 2,675 1,692 432 6,866 799 39 838 93 931 2,200 2,129 179 5,438 4,769 52 2,859 1,962 438 7,838 1,526 201 1,254 44 470 215 554 4,264 1,596 1,055 116 7,030 673 6,550 7,223 14,254 1,454 126 1,413 74 527 203 603 4,401 2,709 1,590 167 8,866 728 6,980 7,708 16,575 1,507 163 1,243 51 579 294 807 4,644 2,322 1,288 190 8,444 898 6,082 6,980 15,424 1,547 128 1,401 60 844 304 712 4,996 3,902 1,417 175 10,490 749 5,550 6,298 16,788 1,393 144 1,406 58 673 374 818 4,867 2,954 2,575 220 10,617 827 5,518 6,345 16,962 687 413 3,763 188 434 86 3,574 9,145 4,925 4,468 1,956 20,494 4,732 11,737 16,469 36,963 725 1,044 3,931 247 466 140 3,944 10,497 5,348 4,419 2,103 22,368 5,245 11,619 16,864 39,232 646 1,612 4,282 333 490 219 3,983 11,565 5,637 4,780 2,118 24,100 4,863 11,734 16,596 40,696 814 528 4,772 307 524 301 4,003 11,251 5,661 4,615 2,097 23,624 4,566 12,503 17,069 40,693 781 569 5,149 255 613 279 4,705 12,349 6,583 5,703 2,269 26,904 4,098 12,592 16,690 43,594 477 45 1,115 38 148 22 465 2,309 777 1,149 139 4,374 289 3,504 3,792 8,166 427 35 1,117 14 173 32 427 2,224 670 1,130 90 4,115 265 3,514 3,779 7,894 490 54 1,168 42 224 63 471 2,512 837 1,240 73 4,661 460 3,443 3,903 8,564 527 25 1,081 26 272 144 394 2,468 610 386 102 3,566 379 2,922 3,301 6,866 342 57 1,085 49 369 56 597 2,556 918 594 158 4,226 314 3,298 3,612 7,838 4,398 4,760 4,066 4,223 4,851 8,770 8,124 7,565 7,563 7,514 3,645 3,427 3,507 2,275 2,883 (percent of total assets) (percent of total assets) (percent of total assets) 9.0 21.3 25.7 60.8 34.2 16.9 29.9 18.6 49.3 50.7 8.9 17.5 25.3 55.3 38.5 13.9 26.5 25.9 53.5 46.5 9.4 17.0 25.2 56.5 37.5 16.5 30.1 23.4 54.7 45.3 8.9 19.6 22.1 54.9 39.7 16.8 29.8 31.7 62.5 37.5 9.8 19.9 23.2 57.3 38.2 15.2 28.7 32.6 62.6 37.4 5.6 21.7 16.9 48.5 26.5 4.4 24.7 25.4 55.4 44.6 5.2 22.1 15.7 47.5 25.3 6.1 26.8 24.9 57.0 43.0 5.8 21.6 15.4 47.0 24.7 7.3 28.4 25.6 59.2 40.8 5.2 21.8 15.2 46.2 25.0 5.3 27.6 25.3 58.1 41.9 4.8 22.1 14.3 45.6 24.0 5.1 28.3 28.2 61.7 38.3 10.0 28.4 30.6 72.9 24.0 8.5 28.3 23.6 53.6 46.4 10.4 29.4 27.2 71.6 24.8 8.4 28.2 22.8 52.1 47.9 11.7 28.7 26.8 70.3 24.7 9.7 29.3 24.3 54.4 45.6 12.2 28.1 26.2 69.1 24.6 14.1 35.9 14.5 51.9 48.1 11.9 28.1 27.2 69.4 25.0 10.5 32.6 19.3 53.9 46.1 57 U.S. Census Bureau TABLE 15.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 39 Miscellaneous Manufacturing1 Item 2Q 1998 3Q 1998 4Q 19982 1Q 1999 2Q 1999 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 2.8 89.8 7.4 2.3 0.8 5.9 1.9 4.1 100.0 2.7 88.4 8.9 2.3 1.4 8.0 2.1 5.9 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included 2 9,864 277 8,854 733 226 79 587 184 403 262 141 10,038 (75) 10,105 9,746 266 8,613 867 222 134 779 207 572 195 376 9,433 (8) 9,802 10,750 278 9,546 926 265 (222) 439 7 432 152 280 9,220 (40) 9,460 8,965 229 8,148 588 215 204 577 177 401 244 157 9,170 74 9,401 9,820 263 8,799 758 225 237 770 240 530 336 195 9,446 (5) 9,636 (percent of net sales) 100.0 2.6 88.8 8.6 2.5 (2.1) 4.1 0.1 4.0 100.0 2.6 90.9 6.6 2.4 2.3 6.4 2.0 4.5 100.0 2.7 89.6 7.7 2.3 2.4 7.8 2.4 5.4 17.13 11.76 7.44 5.11 22.87 16.79 9.28 6.81 13.24 13.03 5.43 5.34 18.72 13.00 7.39 5.13 25.92 17.85 9.53 6.56 1.80 0.21 1.41 1.58 0.19 1.22 1.86 0.29 1.27 1.82 0.26 1.13 1.69 0.25 1.06 in Other Durable Manufacturing Industries. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 58 U.S. Census Bureau Miscellaneous Manufacturing Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19982 1Q 1999 2Q 1999 (million dollars) 4,081 69 3,788 224 47 (10) 166 20 147 142 4 2,584 (33) 2,555 4,135 70 3,683 382 60 (19) 303 44 259 117 142 2,363 1 2,507 4,358 69 3,932 357 67 3 293 17 276 60 217 1,652 (9) 1,859 3,737 63 3,453 221 55 6 172 25 148 94 53 2,101 1 2,155 4,483 90 4,076 317 55 (24) 238 70 168 209 (40) 2,394 (48) 2,306 (percent of net sales) 100.0 1.7 92.8 5.5 1.2 (0.2) 4.1 0.5 3.6 100.0 1.7 89.1 9.2 1.5 (0.5) 7.3 1.1 6.3 (percent) 100.0 1.6 90.2 8.2 1.5 0.1 6.7 0.4 6.3 100.0 1.7 92.4 5.9 1.5 0.2 4.6 0.7 3.9 100.0 2.0 90.9 7.1 1.2 (0.5) 5.3 1.6 3.8 21.08 18.56 8.69 7.65 34.87 29.85 14.27 12.22 38.96 36.70 14.82 13.96 20.54 17.59 8.34 7.14 28.93 20.47 11.29 7.99 1.77 0.16 1.20 1.83 0.18 1.13 2.01 0.29 1.01 1.95 0.27 1.13 1.82 0.23 1.08 59 U.S. Census Bureau TABLE 15.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 39 Miscellaneous Manufacturing1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Included in Other Durable Manufacturing 2 Prior quarters’ data are revised to reflect 3 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 1,042 368 1,410 528 1,938 6,467 6,615 1,330 16,351 13,993 504 7,207 7,290 7,906 31,547 1,103 321 1,424 606 2,030 7,056 6,472 1,541 17,100 13,827 548 7,321 7,053 9,405 33,558 1,648 357 2,005 626 2,631 6,803 5,925 1,541 16,900 13,845 429 7,233 7,040 8,418 32,358 1,275 340 1,615 652 2,267 6,321 6,089 1,315 15,993 12,750 425 7,007 6,168 9,102 31,262 1,754 224 1,978 596 2,574 6,507 6,611 1,585 17,278 12,466 390 6,961 5,895 9,163 32,336 1,826 373 3,172 196 403 358 2,762 9,089 3,002 3,767 1,989 17,847 3,595 10,105 13,700 31,547 1,894 1,455 3,207 266 435 355 3,216 10,828 3,143 3,890 2,077 19,937 3,819 9,802 13,621 33,558 1,448 370 3,215 233 582 348 2,912 9,108 2,943 4,722 2,315 19,088 3,810 9,460 13,270 32,358 1,600 426 2,919 209 539 525 2,558 8,776 3,417 4,405 2,327 18,925 2,937 9,401 12,337 31,262 1,859 382 3,155 264 527 455 3,590 10,231 2,950 5,026 2,243 20,451 2,250 9,636 11,886 32,336 7,261 6,272 7,792 7,217 7,046 (percent of total assets) 6.1 20.5 21.0 51.8 23.1 9.4 28.8 21.5 56.6 43.4 6.1 21.0 19.3 51.0 21.0 12.3 32.3 21.0 59.4 40.6 8.1 21.0 18.3 52.2 21.8 8.5 28.1 23.7 59.0 41.0 7.3 20.2 19.5 51.2 19.7 9.9 28.1 25.0 60.5 39.5 8.0 20.1 20.4 53.4 18.2 10.0 31.6 24.7 63.2 36.8 Industries. additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 60 U.S. Census Bureau Miscellaneous Manufacturing Assets Under $25 Million1 2Q 1998 3Q 1998 4Q 19983 1Q 19993 2Q 1999 (million dollars) 286 102 388 121 508 2,353 2,446 228 5,535 3,760 128 2,154 1,734 390 7,659 390 57 447 140 587 2,552 2,699 276 6,114 3,847 167 2,350 1,664 716 8,495 703 43 746 117 863 2,403 2,429 271 5,966 3,543 70 2,207 1,406 550 7,922 624 21 645 203 848 2,472 2,599 281 6,201 3,642 103 2,253 1,493 571 8,264 601 26 627 182 809 2,310 2,948 301 6,368 3,516 97 2,172 1,441 618 8,426 945 107 1,175 39 240 23 598 3,127 795 526 53 4,502 602 2,555 3,157 7,659 1,097 184 1,260 41 232 31 489 3,333 994 535 156 5,018 970 2,507 3,477 8,495 866 98 1,146 22 198 77 562 2,969 963 767 210 4,910 1,153 1,859 3,013 7,922 1,054 37 1,300 20 193 125 450 3,179 914 643 173 4,909 1,200 2,155 3,355 8,264 1,174 31 1,448 23 208 218 403 3,504 799 607 228 5,138 983 2,306 3,289 8,426 2,408 2,781 2,998 3,022 2,864 (percent of total assets) 6.6 30.7 31.9 72.3 22.6 17.2 40.8 17.2 58.8 41.2 6.9 30.0 31.8 72.0 19.6 18.2 39.2 18.0 59.1 40.9 10.9 30.3 30.7 75.3 17.7 15.6 37.5 21.8 62.0 38.0 10.3 29.9 31.5 75.0 18.1 17.0 38.5 18.8 59.4 40.6 9.6 27.4 35.0 75.6 17.1 19.4 41.6 16.7 61.0 39.0 61 U.S. Census Bureau TABLE 16.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Manufacturing1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.7 88.3 8.0 2.0 1.7 7.7 2.2 5.5 100.0 3.8 88.3 7.9 2.1 2.6 8.4 2.1 6.2 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 997,859 36,812 881,449 79,598 19,903 16,846 76,541 21,818 54,723 28,433 26,290 971,488 (7,314) 990,465 985,425 37,215 870,028 78,183 21,108 25,289 82,364 21,186 61,178 27,153 34,025 981,862 (8,535) 1,007,353 1,009,525 38,684 901,695 69,146 21,135 10,634 58,645 14,619 44,026 34,080 9,946 1,000,298 (8,488) 1,001,756 971,178 37,067 861,720 72,391 20,954 30,412 81,849 21,790 60,059 25,042 35,018 988,660 (10,393) 1,013,284 1,036,995 38,403 909,734 88,858 22,037 25,953 92,774 25,771 67,004 25,820 41,184 1,006,658 (16,419) 1,031,423 (percent of net sales) 100.0 3.8 89.3 6.8 2.1 1.1 5.8 1.4 4.4 100.0 3.8 88.7 7.5 2.2 3.1 8.4 2.2 6.2 100.0 3.7 87.7 8.6 2.1 2.5 8.9 2.5 6.5 20.83 14.89 7.97 5.70 22.28 16.55 8.39 6.23 15.79 11.85 5.93 4.45 21.86 16.04 8.13 5.96 24.24 17.51 9.04 6.53 1.31 0.19 1.40 1.28 0.19 1.36 1.29 0.19 1.35 1.29 0.19 1.30 1.28 0.19 1.32 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 62 U.S. Census Bureau All Manufacturing Assets Under $5 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 2Q 1998 All Manufacturing Assets $5 Million to $10 Million1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 All Manufacturing Assets $10 Million to $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 71,021 1,688 63,979 5,354 749 132 4,737 507 4,230 2,256 1,975 40,193 (293) 41,875 70,590 1,650 63,399 5,542 763 (87) 4,691 525 4,166 1,923 2,244 39,504 (305) 41,442 67,567 1,747 64,869 952 771 391 572 263 309 2,250 (1,941) 41,296 (235) 39,121 65,286 1,694 59,035 4,557 828 (63) 3,667 357 3,310 1,660 1,650 32,253 (670) 33,232 70,049 1,729 62,676 5,645 809 100 4,935 490 4,445 2,112 2,333 31,956 (227) 34,062 28,199 684 25,164 2,351 335 45 2,061 316 1,745 1,036 709 19,311 (140) 19,880 (million dollars) 29,564 735 26,731 2,098 375 48 1,771 286 1,485 492 993 20,165 35 21,193 29,206 744 27,136 1,325 406 20 940 248 692 779 (87) 18,679 (60) 18,532 28,916 732 25,944 2,240 339 62 1,963 246 1,717 749 969 19,626 (119) 20,476 29,541 761 26,789 1,991 387 68 1,672 244 1,428 954 474 18,598 (53) 19,019 42,633 1,105 38,603 2,925 562 68 2,431 501 1,930 1,400 530 26,614 (55) 27,089 (million dollars) 40,801 1,140 36,983 2,678 587 148 2,238 450 1,789 885 904 26,075 96 27,075 39,139 1,151 36,267 1,721 603 270 1,389 362 1,027 1,132 (105) 26,222 (9) 26,108 38,422 1,033 34,574 2,816 555 41 2,302 409 1,893 804 1,089 26,199 (242) 27,046 39,943 1,083 35,668 3,192 536 8 2,664 446 2,217 1,381 837 25,069 (161) 25,744 (percent of net sales) 100.0 2.4 90.1 7.5 1.1 0.2 6.7 0.7 6.0 100.0 2.3 89.8 7.9 1.1 (0.1) 6.6 0.7 5.9 (percent) 100.0 2.6 96.0 1.4 1.1 0.6 0.8 0.4 0.5 100.0 2.6 90.4 7.0 1.3 (0.1) 5.6 0.5 5.1 100.0 2.5 89.5 8.1 1.2 0.1 7.0 0.7 6.3 100.0 2.4 89.2 8.3 1.2 0.2 7.3 1.1 6.2 (percent of net sales) 100.0 2.5 90.4 7.1 1.3 0.2 6.0 1.0 5.0 (percent) 100.0 2.5 92.9 4.5 1.4 0.1 3.2 0.8 2.4 100.0 2.5 89.7 7.7 1.2 0.2 6.8 0.8 5.9 100.0 2.6 90.7 6.7 1.3 0.2 5.7 0.8 4.8 100.0 2.6 90.5 6.9 1.3 0.2 5.7 1.2 4.5 (percent of net sales) 100.0 2.8 90.6 6.6 1.4 0.4 5.5 1.1 4.4 (percent) 100.0 2.9 92.7 4.4 1.5 0.7 3.5 0.9 2.6 100.0 2.7 90.0 7.3 1.4 0.1 6.0 1.1 4.9 100.0 2.7 89.3 8.0 1.3 0.0 6.7 1.1 5.6 35.16 31.40 16.19 14.46 33.64 29.88 15.79 14.03 4.55 2.46 2.01 1.09 29.02 26.20 12.51 11.30 37.62 33.88 16.57 14.93 32.04 27.12 15.03 12.72 26.47 22.20 12.05 10.10 14.51 10.68 6.61 4.86 29.04 25.41 13.73 12.01 25.92 22.14 11.53 9.85 23.42 18.59 10.57 8.39 22.52 18.00 9.87 7.88 14.37 10.63 6.31 4.66 23.72 19.51 10.48 8.62 27.56 22.94 12.39 10.31 2.12 0.44 1.47 2.18 0.46 1.54 2.06 0.44 1.37 2.04 0.42 1.29 2.08 0.44 1.34 1.90 0.33 1.58 1.87 0.32 1.46 1.85 0.32 1.41 1.90 0.31 1.63 1.87 0.29 1.34 1.81 0.25 1.46 1.79 0.26 1.36 1.80 0.26 1.37 1.85 0.29 1.34 1.86 0.32 1.42 63 U.S. Census Bureau TABLE 16.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Manufacturing1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 81,189 27,155 108,343 83,884 192,227 477,158 467,789 176,764 1,313,939 2,081,284 103,876 1,096,353 1,088,806 1,436,587 3,839,332 84,610 33,896 118,506 81,668 200,174 486,370 473,963 181,655 1,342,162 2,102,178 105,128 1,106,295 1,101,011 1,483,477 3,926,651 83,410 26,146 109,556 88,120 197,675 470,874 459,524 195,817 1,323,890 2,111,855 104,031 1,105,602 1,110,284 1,523,786 3,957,960 88,332 25,885 114,217 89,580 203,797 482,168 467,539 201,380 1,354,884 2,128,960 104,955 1,121,519 1,112,396 1,561,865 4,029,145 89,986 24,970 114,955 91,063 206,018 505,459 467,159 196,873 1,375,508 2,136,685 104,083 1,127,232 1,113,537 1,615,049 4,104,094 68,332 115,822 296,721 39,943 25,455 35,981 422,992 1,005,245 269,343 533,346 561,658 2,369,592 479,275 990,465 1,469,739 3,839,332 70,184 125,320 298,527 45,700 28,547 34,977 442,138 1,045,394 285,981 544,476 572,027 2,447,878 471,420 1,007,353 1,478,773 3,926,651 66,788 114,327 301,970 42,703 28,650 34,935 438,254 1,027,628 301,772 555,564 586,971 2,471,935 484,270 1,001,756 1,486,026 3,957,960 70,963 130,689 302,719 45,914 31,751 35,142 429,522 1,046,700 311,648 570,260 602,829 2,531,437 484,424 1,013,284 1,497,708 4,029,145 71,390 119,575 313,435 45,918 29,860 37,208 453,786 1,071,172 309,502 592,191 600,470 2,573,335 499,336 1,031,423 1,530,759 4,104,094 308,694 296,769 296,262 308,184 304,336 (percent of total assets) 5.0 12.4 12.2 34.2 28.4 6.4 26.2 20.9 61.7 38.3 5.1 12.4 12.1 34.2 28.0 6.6 26.6 21.1 62.3 37.7 5.0 11.9 11.6 33.4 28.1 6.2 26.0 21.7 62.5 37.5 5.1 12.0 11.6 33.6 27.6 6.7 26.0 21.9 62.8 37.2 5.0 12.3 11.4 33.5 27.1 6.3 26.1 22.0 62.7 37.3 Prior quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 64 U.S. Census Bureau All Manufacturing Assets Under $5 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 2Q 1998 All Manufacturing Assets $5 Million to $10 Million1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 All Manufacturing Assets $10 Million to $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 12,442 1,501 13,943 2,192 16,135 32,241 24,670 4,894 77,939 90,237 2,097 59,697 32,636 6,430 117,006 13,311 1,464 14,774 2,146 16,920 32,713 25,207 5,023 79,863 89,293 1,955 58,606 32,642 6,304 118,808 12,030 1,423 13,452 2,537 15,990 30,154 24,122 4,554 74,820 90,404 1,783 59,723 32,464 6,227 113,510 12,349 1,209 13,558 2,291 15,849 31,619 24,709 4,529 76,706 93,700 1,692 61,073 34,319 6,190 117,216 13,203 1,326 14,529 2,208 16,736 32,256 25,681 4,565 79,238 92,262 1,854 60,012 34,105 5,774 119,116 3,648 656 4,304 1,721 6,025 13,902 13,157 1,916 35,000 37,994 1,106 22,400 16,699 3,152 54,852 (million dollars) 4,022 677 4,699 1,731 6,429 15,053 14,050 1,993 37,526 38,508 1,336 22,660 17,184 4,086 58,796 4,034 618 4,652 1,433 6,086 14,225 13,402 1,821 35,533 38,462 1,281 22,458 17,285 4,109 56,928 4,186 678 4,863 1,137 6,000 15,026 13,318 1,965 36,308 38,570 1,109 22,734 16,946 3,920 57,174 3,661 725 4,387 1,299 5,685 15,649 13,768 2,195 37,298 40,053 1,057 23,894 17,216 3,498 58,012 4,432 831 5,263 2,502 7,765 22,849 22,587 3,082 56,283 58,465 1,327 31,649 28,144 7,539 91,966 (million dollars) 4,579 807 5,386 2,657 8,042 22,357 20,884 3,163 54,448 60,764 1,548 33,329 28,983 7,310 90,740 4,100 634 4,734 2,760 7,494 20,683 20,922 3,575 52,675 59,936 1,614 33,120 28,429 6,989 88,093 4,672 766 5,437 2,910 8,347 21,380 20,616 3,481 53,824 56,868 1,402 31,002 27,268 6,754 87,846 5,562 957 6,519 2,473 8,993 21,111 19,825 2,973 52,902 55,772 1,460 30,868 26,364 6,729 85,994 6,369 1,957 16,126 508 2,735 1,366 7,645 36,704 11,682 12,661 2,072 63,120 12,012 41,875 53,886 117,006 6,526 1,475 16,096 657 2,607 1,399 7,863 36,624 11,755 12,395 2,256 63,030 14,337 41,442 55,778 118,808 6,359 1,638 16,124 467 2,818 1,594 7,403 36,403 11,223 12,912 2,730 63,268 11,121 39,121 50,242 113,510 7,194 1,671 16,586 493 2,982 1,601 7,134 37,662 13,299 12,510 3,203 66,673 17,312 33,232 50,544 117,216 7,286 1,630 16,553 473 2,840 1,978 7,347 38,106 11,710 13,754 3,067 66,637 18,418 34,062 52,479 119,116 3,947 1,070 7,005 305 1,174 690 4,242 18,434 5,607 3,809 1,273 29,123 5,848 19,880 25,728 54,852 4,766 1,057 7,715 379 1,300 650 4,167 20,033 6,001 4,559 1,445 32,037 5,566 21,193 26,759 58,796 4,954 795 6,844 285 1,332 624 4,374 19,207 6,591 4,075 1,133 31,006 7,390 18,532 25,922 56,928 4,364 546 7,250 257 1,403 726 4,574 19,120 6,307 3,239 1,474 30,139 6,560 20,476 27,035 57,174 5,151 582 7,690 214 1,439 602 4,243 19,921 7,134 4,285 868 32,207 6,785 19,019 25,805 58,012 7,506 826 12,153 416 2,392 878 6,928 31,099 10,430 6,344 2,568 50,442 14,436 27,089 41,524 91,966 6,910 1,133 11,265 405 2,620 942 7,183 30,457 11,118 6,525 2,886 50,986 12,680 27,075 39,755 90,740 6,859 856 11,055 446 2,322 824 6,842 29,205 10,917 6,492 2,813 49,427 12,558 26,108 38,666 88,093 6,713 1,116 11,434 372 2,479 843 6,069 29,027 10,884 6,974 2,152 49,037 11,764 27,046 38,809 87,846 6,360 1,030 11,083 366 2,410 716 6,425 28,389 10,358 6,308 2,284 47,340 12,910 25,744 38,655 85,994 41,235 43,239 38,416 39,045 41,131 16,566 17,493 16,327 17,189 17,377 25,184 23,990 23,470 24,797 24,512 (percent of total assets) (percent of total assets) (percent of total assets) 13.8 27.6 21.1 66.6 27.9 10.6 31.4 20.8 53.9 46.1 14.2 27.5 21.2 67.2 27.5 10.1 30.8 20.3 53.1 46.9 14.1 26.6 21.3 65.9 28.6 10.9 32.1 21.3 55.7 44.3 13.5 27.0 21.1 65.4 29.3 11.5 32.1 22.0 56.9 43.1 14.1 27.1 21.6 66.5 28.6 11.5 32.0 21.4 55.9 44.1 11.0 25.3 24.0 63.8 30.4 12.5 33.6 17.2 53.1 46.9 10.9 25.6 23.9 63.8 29.2 13.2 34.1 18.0 54.5 45.5 10.7 25.0 23.5 62.4 30.4 13.5 33.7 18.7 54.5 45.5 10.5 26.3 23.3 63.5 29.6 12.3 33.4 16.7 52.7 47.3 9.8 27.0 23.7 64.3 29.7 13.4 34.3 19.7 55.5 44.5 8.4 24.8 24.6 61.2 30.6 12.6 33.8 18.2 54.8 45.2 8.9 24.6 23.0 60.0 31.9 12.8 33.6 19.4 56.2 43.8 8.5 23.5 23.8 59.8 32.3 12.3 33.2 19.8 56.1 43.9 9.5 24.3 23.5 61.3 31.0 12.7 33.0 20.3 55.8 44.2 10.5 24.5 23.1 61.5 30.7 12.2 33.0 19.4 55.0 45.0 65 U.S. Census Bureau TABLE 17.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Nondurable Manufacturing Industries1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.9 87.2 8.9 2.5 2.3 8.7 2.3 6.4 100.0 3.9 86.7 9.4 2.7 2.9 9.6 2.2 7.4 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 450,471 17,672 392,608 40,191 11,248 10,418 39,361 10,412 28,950 17,555 11,394 510,324 (4,414) 517,304 448,389 17,681 388,573 42,135 12,014 12,817 42,938 9,852 33,086 16,266 16,820 514,306 (5,370) 525,755 445,053 18,502 395,087 31,463 11,964 (2,616) 16,883 2,054 14,828 22,281 (7,452) 525,106 (610) 517,045 431,760 17,635 378,000 36,124 11,882 10,213 34,455 7,941 26,513 14,045 12,468 508,092 (6,319) 514,241 460,307 18,152 400,945 41,210 12,289 9,117 38,037 10,652 27,385 15,074 12,311 510,592 (7,208) 515,694 (percent of net sales) 100.0 4.2 88.8 7.1 2.7 (0.6) 3.8 0.5 3.3 100.0 4.1 87.5 8.4 2.8 2.4 8.0 1.8 6.1 100.0 3.9 87.1 9.0 2.7 2.0 8.3 2.3 5.9 22.65 16.66 8.43 6.20 24.74 19.07 9.02 6.95 9.75 8.57 3.54 3.11 19.88 15.30 7.12 5.48 21.87 15.75 7.73 5.56 1.21 0.15 1.16 1.19 0.16 1.12 1.19 0.14 1.11 1.18 0.15 1.07 1.16 0.15 1.07 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 66 U.S. Census Bureau Nondurable Manufacturing Industries Assets Under $5 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 Nondurable Manufacturing Industries Assets $5 Million to $10 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 Nondurable Manufacturing Industries Assets $10 Million to $25 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 26,009 658 23,723 1,627 298 129 1,459 127 1,332 863 469 12,245 (211) 12,503 26,025 631 23,611 1,782 296 11 1,497 163 1,334 686 648 12,841 (130) 13,359 24,721 688 23,777 257 285 471 443 70 373 1,073 (700) 14,230 (51) 13,480 24,473 662 22,452 1,359 299 (86) 974 95 880 420 459 8,387 (306) 8,541 25,286 635 23,155 1,496 295 118 1,319 147 1,172 623 549 9,232 52 9,833 11,588 289 10,623 676 148 56 584 126 458 233 224 7,621 (32) 7,813 (million dollars) 13,051 311 12,002 738 171 21 589 92 497 114 382 7,590 (44) 7,929 11,455 298 10,869 288 158 46 176 72 104 181 (77) 7,334 211 7,468 11,285 288 10,061 935 140 68 863 65 798 297 502 7,105 (127) 7,479 11,228 311 10,390 527 153 60 433 69 365 216 148 7,061 (10) 7,199 18,171 465 16,461 1,244 224 32 1,052 190 863 518 345 11,296 (79) 11,561 (million dollars) 17,075 442 15,304 1,329 216 55 1,169 207 961 351 610 10,045 36 10,691 17,354 504 16,098 752 246 203 709 135 575 525 50 11,404 25 11,480 16,878 429 15,115 1,334 214 17 1,137 187 951 317 633 12,193 (75) 12,752 17,237 479 15,528 1,230 230 28 1,028 187 841 530 311 11,696 (59) 11,948 (percent of net sales) 100.0 2.5 91.2 6.3 1.1 0.5 5.6 0.5 5.1 100.0 2.4 90.7 6.8 1.1 0.0 5.8 0.6 5.1 (percent) 100.0 2.8 96.2 1.0 1.2 1.9 1.8 0.3 1.5 100.0 2.7 91.7 5.6 1.2 (0.4) 4.0 0.4 3.6 100.0 2.5 91.6 5.9 1.2 0.5 5.2 0.6 4.6 100.0 2.5 91.7 5.8 1.3 0.5 5.0 1.1 4.0 (percent of net sales) 100.0 2.4 92.0 5.7 1.3 0.2 4.5 0.7 3.8 (percent) 100.0 2.6 94.9 2.5 1.4 0.4 1.5 0.6 0.9 100.0 2.6 89.2 8.3 1.2 0.6 7.6 0.6 7.1 100.0 2.8 92.5 4.7 1.4 0.5 3.9 0.6 3.2 100.0 2.6 90.6 6.8 1.2 0.2 5.8 1.0 4.7 (percent of net sales) 100.0 2.6 89.6 7.8 1.3 0.3 6.8 1.2 5.6 (percent) 100.0 2.9 92.8 4.3 1.4 1.2 4.1 0.8 3.3 100.0 2.5 89.6 7.9 1.3 0.1 6.7 1.1 5.6 100.0 2.8 90.1 7.1 1.3 0.2 6.0 1.1 4.9 32.63 29.79 13.78 12.58 31.93 28.45 14.17 12.62 10.52 8.86 4.41 3.71 23.13 20.89 9.35 8.44 30.51 27.11 12.64 11.23 24.13 18.93 10.89 8.54 23.62 19.92 9.78 8.24 7.28 4.29 3.24 1.91 35.89 33.18 16.22 15.00 18.98 15.98 8.18 6.89 25.59 20.98 11.14 9.14 31.57 25.97 13.62 11.20 18.23 14.77 7.76 6.29 28.45 23.78 12.81 10.71 25.65 20.99 11.45 9.37 1.92 0.41 1.25 2.04 0.44 1.39 1.89 0.40 1.26 1.83 0.35 1.21 1.90 0.39 1.27 1.74 0.30 1.38 1.65 0.28 1.20 1.73 0.30 1.31 1.75 0.30 1.49 1.70 0.27 1.22 1.65 0.22 1.38 1.65 0.24 1.34 1.68 0.23 1.27 1.86 0.28 1.40 1.78 0.28 1.35 67 U.S. Census Bureau TABLE 17.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Nondurable Manufacturing Industries1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 32,199 9,875 42,075 21,615 63,690 197,535 180,817 77,168 519,210 1,157,049 74,229 609,406 621,872 726,296 1,867,378 33,778 13,714 47,492 21,804 69,296 203,013 179,573 78,239 530,122 1,165,986 74,863 613,717 627,132 746,590 1,903,844 30,378 7,801 38,179 22,870 61,049 192,920 177,438 80,780 512,187 1,172,169 73,780 613,144 632,805 761,714 1,906,706 29,680 8,062 37,743 27,463 65,206 197,745 179,173 82,120 524,244 1,176,207 74,104 618,575 631,736 780,304 1,936,284 30,766 9,086 39,852 29,341 69,193 203,682 178,359 80,940 532,174 1,187,809 73,623 623,345 638,086 799,009 1,969,270 32,316 69,388 127,037 19,405 12,829 21,529 147,252 429,756 141,202 320,017 281,328 1,172,304 177,770 517,304 695,074 1,867,378 34,176 72,675 124,966 23,051 14,874 20,767 153,931 444,439 149,840 326,294 289,146 1,209,719 168,370 525,755 694,125 1,903,844 33,481 65,833 126,634 18,004 14,383 21,124 152,574 432,033 158,044 330,670 293,489 1,214,235 175,426 517,045 692,471 1,906,706 33,715 81,809 123,962 19,985 16,026 20,330 149,218 445,045 161,475 334,848 301,697 1,243,065 178,977 514,241 693,219 1,936,284 35,611 72,010 127,860 20,682 14,241 21,903 165,796 458,102 161,170 347,835 306,589 1,273,695 179,881 515,694 695,575 1,969,270 89,454 85,682 80,154 79,199 74,072 (percent of total assets) 3.4 10.6 9.7 27.8 33.3 7.3 23.0 24.7 62.8 37.2 3.6 10.7 9.4 27.8 32.9 7.5 23.3 25.0 63.5 36.5 3.2 10.1 9.3 26.9 33.2 7.1 22.7 25.6 63.7 36.3 3.4 10.2 9.3 27.1 32.6 7.8 23.0 25.6 64.2 35.8 3.5 10.3 9.1 27.0 32.4 7.3 23.3 25.8 64.7 35.3 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 68 U.S. Census Bureau Nondurable Manufacturing Industries Assets Under $5 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 Nondurable Manufacturing Industries Assets $5 Million to $10 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 Nondurable Manufacturing Industries Assets $10 Million to $25 Million 2Q 1998 3Q 19982 4Q 19982 1Q 19992 2Q 1999 (million dollars) 4,478 495 4,973 781 5,754 11,549 7,474 1,943 26,720 34,070 559 22,150 12,479 3,134 42,333 4,500 572 5,072 869 5,941 11,935 7,945 1,759 27,580 32,885 517 21,674 11,728 2,959 42,267 4,104 349 4,453 905 5,359 10,860 7,591 1,675 25,484 33,229 430 21,850 11,809 2,909 40,202 3,970 361 4,331 796 5,127 11,810 7,968 1,773 26,679 34,475 367 22,154 12,688 2,317 41,684 4,310 662 4,972 650 5,623 11,439 8,387 1,885 27,333 32,470 554 20,843 12,182 2,210 41,724 1,233 360 1,593 594 2,187 5,524 4,578 603 12,892 15,654 423 9,060 7,016 1,524 21,432 (million dollars) 1,558 346 1,904 599 2,503 6,359 4,757 992 14,611 16,583 645 9,621 7,606 1,878 24,095 1,331 310 1,641 480 2,121 5,559 4,131 632 12,444 15,287 594 8,670 7,211 2,123 21,778 1,506 303 1,809 309 2,118 5,479 4,017 805 12,419 15,002 420 8,628 6,794 2,065 21,279 1,209 379 1,588 425 2,013 5,700 4,289 758 12,760 15,634 377 9,301 6,710 1,713 21,183 1,623 442 2,065 848 2,913 9,409 8,386 1,368 22,077 26,494 522 14,540 12,476 3,218 37,770 (million dollars) 1,484 412 1,896 930 2,826 8,740 6,876 1,143 19,585 24,821 561 13,447 11,936 2,815 34,336 1,506 255 1,761 1,068 2,829 8,803 7,758 1,603 20,994 26,777 718 14,750 12,746 2,838 36,577 1,866 338 2,204 1,035 3,239 8,985 7,687 1,449 21,360 24,472 457 13,315 11,614 2,538 35,511 2,066 363 2,429 845 3,274 9,186 6,972 1,168 20,600 25,601 646 13,961 12,286 3,006 35,893 2,045 1,062 6,545 157 981 588 2,517 13,896 4,648 4,980 931 24,454 5,375 12,503 17,878 42,333 2,211 575 6,223 198 964 653 2,696 13,520 3,797 5,259 935 23,512 5,396 13,359 18,755 42,267 2,245 625 6,428 128 1,051 617 2,394 13,489 3,793 5,011 1,068 23,361 3,362 13,480 16,841 40,202 2,627 796 6,797 119 950 550 2,707 14,546 3,884 5,158 1,251 24,839 8,304 8,541 16,845 41,684 2,663 614 6,750 189 929 671 2,575 14,389 3,921 4,821 1,308 24,440 7,452 9,833 17,285 41,724 1,674 683 2,879 114 434 355 1,254 7,393 2,082 1,803 480 11,757 1,861 7,813 9,675 21,432 2,199 672 3,587 195 539 404 1,246 8,842 2,314 2,209 757 14,122 2,044 7,929 9,972 24,095 2,207 237 2,732 106 453 176 1,276 7,189 2,349 1,959 583 12,079 2,230 7,468 9,699 21,778 1,832 133 2,841 114 480 171 1,543 7,113 2,184 1,646 715 11,658 2,141 7,479 9,621 21,279 2,181 232 2,920 73 561 245 1,279 7,491 2,251 2,030 278 12,050 1,933 7,199 9,133 21,183 3,558 437 5,246 132 980 376 2,613 13,342 4,308 2,240 1,431 21,321 4,887 11,561 16,448 37,770 3,014 477 4,577 162 820 300 2,492 11,841 4,375 2,079 1,232 19,528 4,117 10,691 14,808 34,336 3,175 460 4,887 185 992 335 2,494 12,528 4,627 2,682 1,171 21,009 4,089 11,480 15,569 36,577 2,691 461 4,835 175 914 184 2,228 11,487 4,369 2,782 882 19,521 3,238 12,752 15,990 35,511 2,883 339 4,734 160 982 269 2,219 11,587 4,453 2,973 856 19,868 4,076 11,948 16,024 35,893 12,824 14,060 11,995 12,132 12,944 5,499 5,769 5,255 5,306 5,269 8,735 7,743 8,465 9,872 9,013 (percent of total assets) (percent of total assets) (percent of total assets) 13.6 27.3 17.7 63.1 29.5 11.0 32.8 22.7 57.8 42.2 14.1 28.2 18.8 65.3 27.7 10.4 32.0 21.4 55.6 44.4 13.3 27.0 18.9 63.4 29.4 11.3 33.6 21.9 58.1 41.9 12.3 28.3 19.1 64.0 30.4 11.8 34.9 21.7 59.6 40.4 13.5 27.4 20.1 65.5 29.2 11.7 34.5 21.0 58.6 41.4 10.2 25.8 21.4 60.2 32.7 14.7 34.5 18.1 54.9 45.1 10.4 26.4 19.7 60.6 31.6 15.8 36.7 18.8 58.6 41.4 9.7 25.5 19.0 57.1 33.1 14.1 33.0 19.8 55.5 44.5 10.0 25.7 18.9 58.4 31.9 12.3 33.4 18.0 54.8 45.2 9.5 26.9 20.2 60.2 31.7 15.2 35.4 20.2 56.9 43.1 7.7 24.9 22.2 58.5 33.0 14.2 35.3 17.3 56.5 43.5 8.2 25.5 20.0 57.0 34.8 13.4 34.5 18.8 56.9 43.1 7.7 24.1 21.2 57.4 34.8 13.6 34.3 20.0 57.4 42.6 9.1 25.3 21.6 60.1 32.7 12.0 32.3 20.1 55.0 45.0 9.1 25.6 19.4 57.4 34.2 12.5 32.3 20.7 55.4 44.6 69 U.S. Census Bureau TABLE 18.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Durable Manufacturing Industries1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (or charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other nonoperating income (expense). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.0 3.5 89.3 7.2 1.6 1.2 6.8 2.1 4.7 100.0 3.6 89.7 6.7 1.7 2.3 7.3 2.1 5.2 (percent) OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BALANCE SHEET RATIOS (based on succeeding table) Total current assets to total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities to total current liabilities . . . . . . . . . . . . . . . . . . Total stockholders’ equity to total debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 4Q 1998 1Q 1999 2Q 1999 547,388 19,140 488,841 39,406 8,654 6,428 37,180 11,406 25,774 10,877 14,896 461,164 (2,900) 473,161 537,036 19,534 481,455 36,048 9,094 12,472 39,426 11,334 28,092 10,886 17,206 467,556 (3,164) 481,598 564,473 20,182 506,608 37,683 9,171 13,251 41,763 12,565 29,198 11,800 17,398 475,191 (7,878) 484,711 539,418 19,432 483,720 36,266 9,072 20,200 47,394 13,848 33,546 10,996 22,549 480,567 (4,074) 499,043 576,688 20,251 508,788 47,649 9,747 16,836 54,737 15,118 39,619 10,746 28,873 496,066 (9,211) 515,729 (percent of net sales) 100.0 3.6 89.7 6.7 1.6 2.3 7.4 2.2 5.2 100.0 3.6 89.7 6.7 1.7 3.7 8.8 2.6 6.2 100.0 3.5 88.2 8.3 1.7 2.9 9.5 2.6 6.9 19.20 13.31 7.54 5.23 20.10 14.32 7.80 5.56 21.05 14.72 8.14 5.69 23.56 16.68 9.06 6.41 26.22 18.97 10.26 7.42 1.38 0.22 1.72 1.35 0.22 1.67 1.36 0.23 1.66 1.38 0.23 1.60 1.38 0.22 1.65 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 70 U.S. Census Bureau Durable Manufacturing Industries Assets Under $5 Million 2Q 19982 3Q 1998 4Q 19982 1Q 19992 2Q 1999 2Q 1998 Durable Manufacturing Industries Assets $5 Million to $10 Million1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 Durable Manufacturing Industries Assets $10 Million to $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 45,012 1,030 40,256 3,727 452 3 3,278 380 2,899 1,393 1,506 27,948 (82) 29,371 44,565 1,019 39,787 3,759 467 (98) 3,194 362 2,832 1,236 1,596 26,663 (176) 28,083 42,846 1,060 41,092 695 485 (81) 129 193 (64) 1,177 (1,241) 27,066 (184) 25,641 40,813 1,032 36,583 3,198 529 23 2,693 262 2,430 1,240 1,190 23,866 (365) 24,691 44,763 1,094 39,521 4,149 514 (18) 3,617 343 3,274 1,489 1,785 22,724 (280) 24,229 16,611 395 14,541 1,675 186 (11) 1,477 190 1,287 802 484 11,690 (108) 12,067 (million dollars) 16,513 425 14,729 1,359 205 27 1,182 193 989 378 611 12,575 79 13,264 17,751 446 16,267 1,037 248 (26) 764 175 588 598 (10) 11,344 (271) 11,064 17,631 444 15,883 1,304 199 (6) 1,100 181 919 452 467 12,521 8 12,996 18,313 450 16,399 1,464 233 8 1,239 175 1,063 738 325 11,537 (43) 11,820 24,462 640 22,141 1,681 337 35 1,379 312 1,067 882 185 15,318 25 15,527 (million dollars) 23,725 698 21,679 1,348 371 93 1,069 242 827 534 293 16,030 60 16,384 21,785 647 20,169 969 357 67 679 227 452 607 (155) 14,818 (35) 14,628 21,544 604 19,458 1,482 341 24 1,164 222 943 487 455 14,005 (167) 14,293 22,706 604 20,140 1,962 306 (20) 1,636 260 1,376 851 526 13,373 (102) 13,797 (percent of net sales) 100.0 2.3 89.4 8.3 1.0 0.0 7.3 0.8 6.4 100.0 2.3 89.3 8.4 1.0 (0.2) 7.2 0.8 6.4 (percent) 100.0 2.5 95.9 1.6 1.1 (0.2) 0.3 0.5 (0.2) 100.0 2.5 89.6 7.8 1.3 0.1 6.6 0.6 6.0 100.0 2.4 88.3 9.3 1.1 0.0 8.1 0.8 7.3 100.0 2.4 87.5 10.1 1.1 (0.1) 8.9 1.1 7.7 (percent of net sales) 100.0 2.6 89.2 8.2 1.2 0.2 7.2 1.2 6.0 (percent) 100.0 2.5 91.6 5.8 1.4 (0.1) 4.3 1.0 3.3 100.0 2.5 90.1 7.4 1.1 0.0 6.2 1.0 5.2 100.0 2.5 89.5 8.0 1.3 0.0 6.8 1.0 5.8 100.0 2.6 90.5 6.9 1.4 0.1 5.6 1.3 4.4 (percent of net sales) 100.0 2.9 91.4 5.7 1.6 0.4 4.5 1.0 3.5 (percent) 100.0 3.0 92.6 4.4 1.6 0.3 3.1 1.0 2.1 100.0 2.8 90.3 6.9 1.6 0.1 5.4 1.0 4.4 100.0 2.7 88.7 8.6 1.3 (0.1) 7.2 1.1 6.1 36.42 32.20 17.56 15.53 34.51 30.60 16.69 14.80 1.54 (0.77) 0.70 (0.35) 31.96 28.85 14.26 12.87 41.11 37.21 18.69 16.92 36.81 32.06 17.68 15.40 28.16 23.56 13.62 11.40 18.83 14.51 8.69 6.69 25.26 21.11 12.26 10.24 29.72 25.51 13.46 11.55 21.99 17.02 10.18 7.87 17.15 13.26 7.58 5.87 11.77 7.83 5.28 3.51 20.41 16.52 8.90 7.20 28.92 24.33 13.06 10.99 2.25 0.46 1.60 2.26 0.48 1.63 2.15 0.46 1.44 2.16 0.46 1.33 2.19 0.47 1.38 2.00 0.35 1.73 2.05 0.35 1.68 1.92 0.33 1.48 1.99 0.32 1.72 1.97 0.30 1.43 1.93 0.27 1.52 1.87 0.28 1.37 1.90 0.28 1.44 1.85 0.29 1.30 1.92 0.34 1.48 71 U.S. Census Bureau TABLE 18.1—BALANCE SHEET FOR CORPORATIONS INCLUDED IN MANUFACTURING, BY ASSET SIZE All Durable Manufacturing Industries1 Item ASSETS Cash and demand deposits in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Time deposits in the United States, including negotiable certificates of deposit. . . . . . . . . . . . . . . Total cash on hand and in U.S. banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other short-term financial investments, including marketable and government securities, commercial paper, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable (less allowances for doubtful receivables) . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciable and amortizable fixed assets, including construction in progress . . . . . . . . . . . . . . . . Land and mineral rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: Accumulated depreciation, depletion, and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent assets, including investment in nonconsolidated entities, long-term investments, intangibles, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES AND STOCKHOLDERS’ EQUITY Short-term debt, original maturity of 1 year or less: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other short-term debt, including commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income taxes accrued, prior and current years, net of payments. . . . . . . . . . . . . . . . . . . . . . . . . . Installments, due in 1 year or less, on long-term debt: a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other current liabilities, including excise and sales taxes, and accrued expenses . . . . . . . . . . Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt (due in more than 1 year): a. Loans from banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . All other noncurrent liabilities, including deferred income taxes, capitalized leases, and minority stockholders’ interest in consolidated domestic corporations . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital stock and other capital (less treasury stock) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities and Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET WORKING CAPITAL Excess of total current assets over total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SELECTED BALANCE SHEET RATIOS Total cash, U.S. Government and other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trade accounts and trade notes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net property, plant, and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Short-term debt, including installments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Prior 2 2Q 1998 3Q 1998 (million dollars) 4Q 1998 1Q 1999 2Q 1999 48,989 17,279 66,268 62,269 128,537 279,624 286,971 99,597 794,729 924,234 29,647 486,947 466,935 710,291 1,971,954 50,832 20,181 71,014 59,865 130,878 283,357 294,389 103,416 812,041 936,192 30,265 492,578 473,879 736,888 2,022,808 53,032 18,345 71,377 65,249 136,626 277,954 282,086 115,037 811,703 939,685 30,252 492,457 477,479 762,072 2,051,254 58,652 17,822 76,474 62,117 138,591 284,423 288,365 119,260 830,640 952,753 30,851 502,944 480,661 781,561 2,092,861 59,220 15,883 75,103 61,722 136,825 301,777 288,800 115,932 843,334 948,876 30,460 503,887 475,450 816,040 2,134,824 36,015 46,434 169,684 20,538 12,626 14,452 275,740 575,489 128,141 213,329 280,330 1,197,289 301,505 473,161 774,665 1,971,954 36,007 52,646 173,561 22,650 13,673 14,210 288,208 600,955 136,142 218,182 282,881 1,238,159 303,050 481,598 784,648 2,022,808 33,307 48,494 175,337 24,699 14,266 13,811 285,681 595,595 143,728 224,894 293,482 1,257,699 308,844 484,711 793,555 2,051,254 37,248 48,879 178,757 25,929 15,725 14,812 280,304 601,655 150,172 235,412 301,133 1,288,372 305,446 499,043 804,489 2,092,861 35,779 47,565 185,575 25,236 15,619 15,305 287,991 613,070 148,332 244,356 293,882 1,299,640 319,456 515,729 835,184 2,134,824 219,240 211,086 216,108 228,985 230,264 (percent of total assets) 6.5 14.2 14.6 40.3 23.7 5.6 29.2 17.3 60.7 39.3 6.5 14.0 14.6 40.1 23.4 5.8 29.7 17.5 61.2 38.8 6.7 13.6 13.8 39.6 23.3 5.4 29.0 18.0 61.3 38.7 6.6 13.6 13.8 39.7 23.0 5.6 28.7 18.4 61.6 38.4 6.4 14.1 13.5 39.5 22.3 5.4 28.7 18.4 60.9 39.1 quarters’ data are revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. Revised to reflect additional information and/or corrections submitted by respondents subsequent to last quarter’s publication. 72 U.S. Census Bureau Durable Manufacturing Industries Assets Under $5 Million 2Q 19982 3Q 1998 4Q 19982 1Q 19992 2Q 1999 2Q 1998 Durable Manufacturing Industries Assets $5 Million to $10 Million1 3Q 1998 4Q 1998 1Q 1999 2Q 1999 Durable Manufacturing Industries Assets $10 Million to $25 Million1 2Q 1998 3Q 1998 4Q 1998 1Q 1999 2Q 1999 (million dollars) 7,964 1,006 8,970 1,411 10,381 20,691 17,196 2,951 51,219 56,167 1,538 37,548 20,157 3,297 74,673 8,811 892 9,703 1,277 10,979 20,778 17,262 3,264 52,283 56,408 1,438 36,931 20,914 3,344 76,541 7,926 1,074 8,999 1,632 10,631 19,294 16,531 2,879 49,336 57,175 1,353 37,874 20,655 3,318 73,308 8,379 848 9,227 1,496 10,723 19,809 16,740 2,756 50,028 59,225 1,325 38,919 21,631 3,874 75,533 8,892 664 9,557 1,557 11,114 20,817 17,294 2,680 51,905 59,792 1,300 39,169 21,923 3,564 77,392 2,415 296 2,711 1,127 3,838 8,378 8,578 1,314 22,108 22,340 683 13,340 9,683 1,628 33,420 (million dollars) 2,464 331 2,795 1,132 3,927 8,693 9,294 1,001 22,915 21,925 692 13,039 9,578 2,209 34,701 2,703 308 3,011 954 3,965 8,665 9,271 1,188 23,090 23,175 687 13,789 10,074 1,986 35,150 2,680 374 3,054 827 3,882 9,547 9,301 1,159 23,889 23,568 689 14,106 10,152 1,855 35,895 2,453 346 2,799 874 3,673 9,949 9,479 1,437 24,538 24,420 680 14,593 10,507 1,785 36,829 2,809 389 3,198 1,654 4,852 13,440 14,201 1,714 34,207 31,972 805 17,108 15,668 4,321 54,196 (million dollars) 3,095 395 3,490 1,726 5,216 13,618 14,008 2,021 34,863 35,942 987 19,882 17,047 4,495 56,405 2,594 379 2,973 1,692 4,665 11,880 13,164 1,972 31,681 33,159 896 18,371 15,683 4,151 51,515 2,806 427 3,233 1,874 5,108 12,395 12,928 2,033 32,464 32,396 945 17,686 15,655 4,216 52,335 3,495 594 4,090 1,629 5,718 11,925 12,852 1,806 32,301 30,171 813 16,907 14,077 3,723 50,102 4,324 894 9,581 351 1,753 778 5,128 22,809 7,034 7,681 1,141 38,665 6,637 29,371 36,008 74,673 4,315 900 9,873 459 1,644 746 5,167 23,104 7,958 7,136 1,321 39,518 8,940 28,083 37,023 76,541 4,114 1,013 9,696 339 1,767 977 5,009 22,915 7,430 7,901 1,662 39,907 7,760 25,641 33,400 73,308 4,567 876 9,789 374 2,032 1,051 4,427 23,115 9,415 7,352 1,952 41,834 9,008 24,691 33,699 75,533 4,623 1,016 9,803 284 1,911 1,307 4,772 23,717 7,788 8,932 1,760 42,197 10,966 24,229 35,195 77,392 2,273 387 4,126 191 740 336 2,988 11,041 3,525 2,007 794 17,366 3,987 12,067 16,053 33,420 2,567 385 4,128 184 760 247 2,920 11,191 3,687 2,349 688 17,915 3,522 13,264 16,786 34,701 2,747 557 4,111 178 879 449 3,098 12,018 4,242 2,116 550 18,927 5,160 11,064 16,223 35,150 2,532 413 4,409 143 924 554 3,032 12,007 4,123 1,593 759 18,481 4,418 12,996 17,415 35,895 2,970 350 4,770 142 878 357 2,964 12,430 4,883 2,254 591 20,157 4,852 11,820 16,672 36,829 3,948 389 6,907 284 1,412 502 4,316 17,757 6,122 4,104 1,137 29,120 9,549 15,527 25,076 54,196 3,896 655 6,688 243 1,801 642 4,691 18,616 6,743 4,446 1,654 31,458 8,563 16,384 24,946 56,405 3,684 396 6,168 261 1,330 489 4,348 16,676 6,289 3,810 1,642 28,418 8,470 14,628 23,098 51,515 4,022 655 6,599 197 1,566 659 3,842 17,540 6,515 4,192 1,269 29,516 8,526 14,293 22,819 52,335 3,477 691 6,348 206 1,428 447 4,205 16,803 5,906 3,335 1,428 27,471 8,834 13,797 22,630 50,102 28,410 29,179 26,421 26,913 28,188 11,067 11,724 11,071 11,882 12,108 16,449 16,247 15,005 14,924 15,499 (percent of total assets) (percent of total assets) (percent of total assets) 13.9 27.7 23.0 68.6 27.0 10.4 30.5 19.7 51.8 48.2 14.3 27.1 22.6 68.3 27.3 9.9 30.2 19.7 51.6 48.4 14.5 26.3 22.6 67.3 28.2 10.7 31.3 20.9 54.4 45.6 14.2 26.2 22.2 66.2 28.6 11.3 30.6 22.2 55.4 44.6 14.4 26.9 22.3 67.1 28.3 11.4 30.6 21.6 54.5 45.5 11.5 25.1 25.7 66.2 29.0 11.2 33.0 16.6 52.0 48.0 11.3 25.1 26.8 66.0 27.6 11.4 32.2 17.4 51.6 48.4 11.3 24.7 26.4 65.7 28.7 13.2 34.2 18.1 53.8 46.2 10.8 26.6 25.9 66.6 28.3 12.3 33.4 15.9 51.5 48.5 10.0 27.0 25.7 66.6 28.5 12.4 33.7 19.4 54.7 45.3 9.0 24.8 26.2 63.1 28.9 11.5 32.8 18.9 53.7 46.3 9.2 24.1 24.8 61.8 30.2 12.4 33.0 19.8 55.8 44.2 9.1 23.1 25.6 61.5 30.4 11.5 32.4 19.6 55.2 44.8 9.8 23.7 24.7 62.0 29.9 13.2 33.5 20.5 56.4 43.6 11.4 23.8 25.7 64.5 28.1 12.1 33.5 18.4 54.8 45.2 73 U.S. Census Bureau TABLE 19.0—INCOME STATEMENT FOR CORPORATIONS INCLUDED IN SIC MAJOR GROUP 20 AND 21, ASSETS $25 MILLION AND OVER Food and Kindred Products1 Item 2Q 1998 3Q 1998 (million dollars) Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses, including cost of goods sold and selling, general, and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other recurring nonoperating income (expense), including interest income, royalties, and minority interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nonrecurring items (gain/loss on sale of assets, restructuring costs, and asset writedowns) . . . . Net income (loss) of foreign branches and equity in earnings (losses) of domestic and foreign nonconsolidated subsidiaries and other investments accounted for by the equity method, net of foreign taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110,107 2,950 96,175 10,982 2,819 522 225 (1,404) 1,311 8,816 2,584 287 5,946 (34) 4 5,916 3,525 2,391 121,304 (1,253) 122,442 110,365 2,861 94,520 12,984 2,784 571 (622) 810 1,262 12,220 2,799 359 9,062 10 (2) 9,070 3,974 5,096 121,637 (1,535) 125,198 111,961 3,041 98,039 10,880 2,818 666 36 (4,208) 1,010 5,565 1,133 265 4,168 (56) 9 4,121 7,235 (3,114) 123,931 (255) 120,563 108,477 2,920 95,672 9,886 2,928 660 (10) (56) 1,325 8,877 2,262 346 6,269 2 (1) 6,270 3,604 2,666 119,729 (142) 122,253 109,372 2,994 95,695 10,682 2,945 267 595 (1,184) 1,007 8,422 2,769 367 5,287 (2) 7 5,292 2,938 2,354 122,050 (540) 123,865 4Q 1998 2 1Q 1999 2Q 1999 Less: Provision for current and deferred domestic income taxes: a. Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Extraordinary gains (losses), net of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cumulative effect of accounting changes, net of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net income (or loss) for quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash dividends charged to retained earnings in current quarter . . . . . . . . . . . . . . . . . . . . . . . . . . Net income retained in business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at beginning of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other direct credits (charges) to retained earnings (net), including stock and other noncash dividends, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Retained earnings at end of quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . INCOME STATEMENT IN RATIO FORMAT Net sales, receipts, and operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, depletion, and amortization of property, plant, and equipment . . . . . . . . . . . . . . . . . All other operating costs and expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other recurring nonoperating income (expense), including interest income, royalties, and minority interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nonrecurring items (gain/loss on sale of assets, restructuring costs, and asset writedowns) . . . . Net income (loss) of foreign branches and equity in earnings (losses) of nonconsolidated subsidiaries, net of foreign taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for current and deferred domestic income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income (or loss) after income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OPERATING RATIOS (see explanatory notes) Annual rate of profit on stockholders’ equity at end of period: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annual rate of profit on total assets: Before income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . After income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Includes 2 (percent of net sales) 100.0 2.7 87.3 10.0 2.6 0.5 0.2 (1.3) 1.2 8.0 2.6