June 30 December 31
2000 1999
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(Unaudited)
Assets
Current Assets:
Cash and cash equivalents ........................................................... $ 840,149 $ 608,097
Investment securities ............................................................... 144,102 115,199
Trade receivables, less allowances of $193,056 in 2000 and $238,956 in 1999 ......... 2,040,877 2,055,839
Inventories:
Finished products .............................................................. 885,225 772,478
Work in process ................................................................ 372,621 338,818
Materials ...................................................................... 426,461 384,148
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Total inventories ......................................................... 1,684,307 1,495,444
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Prepaid expenses, income taxes, and other receivables .................................... 2,188,601 2,145,175
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Total Current Assets ...................................................... 6,898,036 6,419,754
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Investment Securities Maturing after One Year ............................................ 879,707 954,778
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Property and Equipment, at Cost .......................................................... 9,938,898 9,797,567
Less: accumulated depreciation and amortization ..................................... 5,168,128 5,027,508
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Net Property and Equipment .......................................................... 4,770,770 4,770,059
Deferred Charges, Intangible and Other Assets ............................................ 2,415,568 2,326,453
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$14,964,081 $14,471,044
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Liabilities and Shareholders' Investment
Current Liabilities:
Short-term borrowings and current portion of long-term debt ......................... $ 355,594 $ 896,271
Trade accounts payable .............................................................. 1,480,079 1,226,854
Salaries, income taxes, dividends payable, and other accruals ....................... 2,352,593 2,393,586
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Total Current Liabilities ................................................. 4,188,266 4,516,711
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Long-Term Debt ........................................................................... 1,326,416 1,336,789
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Other Liabilities and Deferrals .......................................................... 1,265,005 1,189,949
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Shareholders' Investment:
Preferred shares, one dollar par value
Authorized - 1,000,000 shares, none issued ........................................ -- --
Common shares, without par value
Authorized - 2,400,000,000 shares
Issued at stated capital amount -
Shares: 2000: 1,567,539,540; 1999: 1,564,670,440 .................................. 2,074,238 1,939,673
Common shares held in treasury, at cost -
Shares: 2000: 17,609,234; 1999: 17,650,834 ........................................ (257,147) (257,756)
Unearned compensation - restricted stock awards......................................... (19,857) (23,028)
Earnings employed in the business ...................................................... 6,879,490 6,174,007
Accumulated other comprehensive loss ................................................... (492,330) (405,301)
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Total Shareholders' Investment ............................................ 8,184,394 7,427,595
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$14,964,081 $14,471,044
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