Bethlehem Steel Corporation-Third Quarter 1997
CONSOLIDATED BALANCE SHEETS
(dollars in millions)
ASSETS
|
September 30
1997
(unaudited) |
December 31
1996 |
September 30
1996
(unaudited) |
|
|
|
|
| Current Assets: |
|
|
|
| Cash and cash equivalents |
$164.8 |
$136.6 |
$106.3 |
| Receivables, less
allowances |
307.8 |
311.6 |
327.9 |
| Inventories: |
|
|
|
| Raw materials |
325.8 |
332.0 |
307.3 |
| Finished and semifinished |
560.9 |
667.0 |
623.3 |
| Contract work-in-progress,
less billings |
7.7 |
18.3 |
19.0 |
|
|
|
|
|
894.4 |
1,017.3 |
949.6 |
| Other current assets |
10.4 |
22.9 |
9.4 |
|
|
|
|
| Total Current Assets |
1,377.4 |
1,488.4 |
1,393.2 |
| Investments and
Miscellaneous Assets |
103.2 |
106.7 |
113.3 |
Property, Plant and Equipment,
less accumulated depreciation of $4,067.5, $3,924.3, and $4,476.6 |
2,404.7 |
2,419.8 |
2,670.0 |
|
|
|
|
| Deferred Income Tax Asset - net |
888.7 |
935.0 |
875.0 |
| Intangible Asset - Pensions |
160.0 |
160.0 |
463.0 |
|
|
|
|
| Total Assets |
$4,934.0 |
$5,109.9 |
$5,514.5 |
|
|
|
|
| LIABILITIES AND
STOCKHOLDERS' EQUITY |
| Current Liabilities: |
|
|
|
| Accounts payable |
$400.9 |
$410.4 |
$394.0 |
| Accrued employment costs |
314.0 |
313.3 |
313.7 |
| Accrued taxes |
57.3 |
67.9 |
62.3 |
| Debt and capital lease
obligations |
41.8 |
49.3 |
61.5 |
| Other current liabilities |
106.1 |
116.5 |
98.6 |
|
|
|
|
| Total Current Liabilities |
920.1 |
957.4 |
930.1 |
|
|
|
|
| Pension Liability |
598.0 |
870.0 |
1,101.7 |
| Postretirement Benefits Other Than Pensions |
1,442.4 |
1,445.0 |
1,419.5 |
| Long-term Debt and Capital Lease
Obligations |
451.7 |
497.4 |
499.5 |
| Other Long-term Liabilities |
340.5 |
374.1 |
310.1 |
|
|
|
|
| Stockholders' Equity: |
|
|
|
| Preferred Stock |
11.6 |
11.6 |
11.6 |
| Preference Stock |
2.5 |
2.5 |
2.6 |
| Common Stock |
114.5 |
113.9 |
113.6 |
| Common Stock held in
treasury at cost |
(60.0) |
(59.7) |
(59.4) |
| Additional paid-in capital |
1,862.0 |
1,886.3 |
1,827.3 |
| Accumulated deficit |
(749.6) |
(988.6) |
(642.1) |
|
|
|
|
| Total Stockholders' Equity |
1,181.3 |
966.0 |
1,253.6 |
|
|
|
|
| Total Liabilities and Stockholders' Equity |
$4,934.0 |
$5,109.9 |
$5,514.5 |
|
|
|
|
The accompanying Notes are an
integral part of the Consolidated Financial Statements.
Quarterly Financial Statements
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�1998, Bethlehem Steel Corporation |
