Alcoa 1998 Annual Report Download - page 42

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40
Consolidated Balance Sheet Alcoa and subsidiaries
(in millions)
December 31 1998 1997
Assets
Current assets:
Cash and cash equivalents (includes cash of $131.1 in 1998 and $100.8 in 1997) (T) $ 342.2 $ 800.8
Short-term investments (T) 39.4 105.6
Receivables from customers, less allowances: 1998 – $61.4; 1997 – $36.6 2,163.2 1,581.2
Other receivables 171.0 216.4
Inventories (E) 1,880.5 1,312.6
Deferred income taxes 198.0 172.3
Prepaid expenses and other current assets 230.8 228.0
Total current assets 5,025.1 4,416.9
Properties, plants and equipment (F) 9,133.5 6,666.5
Goodwill, net of accumulated amortization of $179.3 in 1998 and $153.5 in 1997 (C) 1,414.1 487.6
Other assets (H and T) 1,889.8 1,499.6
To t a l A s s e t s $17,462.5 $13,070.6
Liabilities
Current liabilities:
Short-term borrowings (weighted average rate of 4.8% in 1998 and 6.3% in 1997) (T) $ 431.0 $ 347.7
Accounts payable, trade 1,044.3 811.7
Accrued compensation and retirement costs 553.2 436.0
Taxes, including taxes on income 431.3 334.2
Other current liabilities 627.4 375.7
Long-term debt due within one year (G and T) 181.1 147.2
Total current liabilities 3,268.3 2,452.5
Long-term debt, less amount due within one year (G and T) 2,877.0 1,457.2
Accrued postretirement benefits (Q) 1,840.1 1,749.6
Other noncurrent liabilities and deferred credits (I) 1,587.1 1,271.2
Deferred income taxes 358.1 281.0
Total liabilities 9,930.6 7,211.5
Minority Interests (A and J) 1,476.0 1,439.7
Contingent liabilities (L) ——
Shareholders’ Equity
Preferred stock (N) 55.8 55.8
Common stock (B and N) 394.7 178.9
Additional capital (B) 1,675.9 578.1
Retained earnings 5,305.1 4,717.3
Treasury stock, at cost (1,028.7) (758.0)
Accumulated other comprehensive loss (346.9) (352.7)
Total shareholders’ equity 6,055.9 4,419.4
Total Liabilities and Equity $17,462.5 $13,070.6
The accompanying notes are an integral part of the financial statements.