Bethlehem Steel Corporation
CONSOLIDATED BALANCE SHEETS
(dollars in millions)
ASSETS
|
June 30
1997
(unaudited) |
Dec. 31
1996 |
June 30
1996
(unaudited) |
|
|
|
|
| Current Assets: |
|
|
|
| Cash and cash equivalents |
$187.6 |
$136.6 |
$155.6 |
| Receivables, less allowances |
322.6 |
311.6 |
338.3 |
| Inventories: |
|
|
|
| Raw materials |
307.8 |
332.0 |
298.1 |
| Finished and semifinished |
597.3 |
667.0 |
610.5 |
| Contract work-in-progress, less
billings |
15.5 |
18.3 |
21.6 |
|
|
|
|
|
920.6 |
1,017.3 |
930.2 |
| Other current assets |
10.0 |
22.9 |
8.9 |
|
|
|
|
| Total Current Assets |
1,440.8 |
1,488.4 |
1,433.0 |
| Investments and Miscellaneous Assets |
108.0 |
106.7 |
113.4 |
| Property, Plant and Equipment, less
accumulated depreciation of $4,018.5, $3,924.2, and $4,456.5 |
2,400.3 |
2,419.8 |
2,687.2 |
|
|
|
|
| Deferred Income Tax Asset - net |
897.2 |
935.0 |
877.2 |
| Intangible Asset - Pensions |
160.0 |
160.0 |
463.0 |
|
|
|
|
| Total Assets |
$5,006.3 |
$5,109.9 |
$5,573.8 |
|
|
|
|
| LIABILITIES AND STOCKHOLDERS'
EQUITY |
| Current Liabilities: |
|
|
|
| Accounts payable |
$380.0 |
$410.4 |
$392.1 |
| Accrued employment costs |
304.1 |
313.3 |
308.2 |
| Accrued taxes |
53.1 |
67.9 |
65.1 |
| Debt and capital lease obligations |
47.1 |
49.3 |
71.9 |
| Other current liabilities |
114.2 |
116.5 |
110.8 |
|
|
|
|
| Total Current Liabilities |
898.5 |
957.4 |
948.1 |
|
|
|
|
| Pension Liability |
685.0 |
870.0 |
1,115.0 |
| Postretirement Benefits Other Than Pensions |
1,443.2 |
1,445.0 |
1,423.4 |
| Long-term Debt and Capital Lease Obligations |
473.0 |
497.4 |
520.4 |
| Other Long-term Liabilities |
357.9 |
374.1 |
316.6 |
|
|
|
|
| Stockholders' Equity: |
|
|
|
| Preferred Stock |
11.6 |
11.6 |
11.6 |
| Preference Stock |
2.5 |
2.5 |
2.7 |
| Common Stock |
114.5 |
113.9 |
113.3 |
| Common Stock held in treasury at cost |
(59.9) |
(59.7) |
(59.4) |
| Additional paid-in capital |
1,870.2 |
1,886.3 |
1,835.2 |
| Accumulated deficit |
(790.2) |
(988.6) |
(653.1) |
|
|
|
|
| Total Stockholders' Equity |
1,148.7 |
966.0 |
1,250.3 |
|
|
|
|
| Total Liabilities and Stockholders' Equity |
$5,006.3 |
$5,109.9 |
$5,573.8 |
|
|
|
|
The accompanying Notes are an
integral part of the Consolidated Financial Statements.
Quarterly Financial Statements
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�1998, Bethlehem Steel Corporation |
