Year book of motion pictures (1940)

affiliated companies — directors valuation), $2,634,814.76; Equity in joint theater operating venture, $79,315.90 .. 6,203,240.92 Deferred Charges: Unamortized excess of cost of investments in a subsidiary and in affiliated companies over book values at dates of acquisition, $1,009,567.98; Lease rent deposit, $128, 333.34; Unamortized bond discount and expense, $25,463.69; Prepaid expenses, $34,141.60 1,197,506.61 Liabilities $ 8,029,565.05 Current Liabilities: Accounts payable and sundry accruals, $85,820.93; Real estate taxes accrued, $39,399.59; Federal income taxes accrued, $73,630.33; Long term debt items due within one year, $91,749.87; Dividends payable on preferred stock on September 15, 1939, $33,651.25 $ 324,251.97 Long Term Debt: Chicago-United Artists Theater Corporation: First mortgage leasehold bonds due March 1, 1948 ($200,000, including $75,000 in treasury, subordinated as to principal and interest to remainder of issue); interest originally 6%% — now 4% to March 1, 1943 and 5% thereafter, with participation feature: Issued (less $94,000 redeemed and cancelled), $1,206,000; In treasury, $547,900, total, $658,100; Boulevard Theater Company, Inc.: First closed mortgage 6% sinking fund bonds, due May 1, 1942: Issued (less $160,500 redeemed and cancelled), $339,500; In treasury, $125,000, total, $214,500; United Artists Theaters of California, Ltd.: First mortgage 6l/2% serial bonds, series A, of The Granada Co. (Stamped as extending original maturities for five years, to become due 1939 to 1951): Assumed (less $22,000 redeemed and cancelled), $278,000; In treasury, $36,000, total, $242,000; Less due within one year, classified as current liability $10,000, $232,000; Real estate mortgage notes due 1940 to 1951, $188,402.98; Illinois-United Artists Theater Co.: Building purchase obligations, due 1940 to 1946, $38,333.33; United Artists of Texas, Inc.: Notes payable, due 1941 to 1957, $658,750 1,990,086.31 Deferred credit arising from release of rent guarantee 88,763.84 Capital Stock and Surplus: 5% cumulative preferred stock — authorized 40.000 shares of $100 each; outstanding 26,921 shares; redeemable at the option of the company upon any quarterly dividend payment date; entitled in redemption, liquidation or dissolution to $105 a share plus dividends accrued or in arrears, $2,692,100; Common stock — authorized and outstanding 600,000 shares without par value, $500,000; Capital surplus (increased during the year by $128,991.08, representing excess of par value over cost of preferred stock repurchased for retirement, $138,226.25, less depreciation on appreciated value of property, $9,235.17), $1,145,719.29; Appropriated earned surplus, $81,417.28; Unappropriated Earned Surplus: Balance, September 1, 1938 $1,112,833.59; Net income for the year, $138,811.93; Profit from repurchase for retirement of bonds of subsidiaries, less Federal income taxes thereon, $6,763.56, and unamortized discount and expense applicable thereto, $2,989.27, $30,595.54; Proportion of profit from repurchase for retirement of bonds of affiliated companies, less Federal income taxes thereon, $4,170.07, and unamortized discount and expense applicable thereto, $672.94, $65,520.30, total, $1,347,761.36; Less dividends declared on preferred stock — $5 a share, $140,535; Balance, August 31, 1939 (including $444,102.64 representing proportion of undistributed surpluses, less deficits, of affiliated companies less than 100% owned, arising since acquisition, $1,207,226.36 5,626,462.93 $ 8,029,565.05 SUMMARY OF CONSOLIDATED NET INCOME For the Year Ended August 31, 1939 Net income before deducting interest, depreciation, amortization, and provision for Federal income taxes (including proportion of profits of affiliated companies less than 100% owned — to the extent paid in dividends during the year by said companies, $137,691.22 $ 509,134.77 Less: Interest, $100,186.87; Depreciation and amortization of theater leaseholds, buildings and equipment, $156,729.67; Amortization of excess of cost of investments in a subsidiary and in affiliated companies over book values at dates of acquisition, $65,418.25; Amortization of bond discount and expense, $3,970.86; Provision for Federal income taxes, $49,974.92... 376,280.57 $ 132,854.20 Add proportion of undistributed net income, less proportion of net losses, of affiliated companies less than 100% owned (exclusive of proportion of profits included above 5,957.73 Net Income $ 138,811.93 UNIVERSAL PICTURES CO., INC. Producer and Distributor Incorporated Jan. 15, 1925, in Delaware =: General Office, 1250 Sixth Ave., New York ======^ standing. Second preferred (cumulative) 7% stock, 40,000 shares authorized, 20,000 outstanding (unlisted). Dividends: None being paid at present. Company is outgrowth of original business established as Imp. Films Co. Capitalization: Common stock, $1 par, 250,000 shares outstanding. First preferred (cumulative) 8% stock, 30,000 shares authorized, 17,864 out 1003