Year book of motion pictures (1940)

$2,675,754.87; Interest accrued, $1 .092.789.67 ; Otlier accrued liabilities, $3,065,894.02; Reserve for Federal income taxes, $2,937,317.35; Serial !x>nds sinking fund requirements, purchase money and contractual obligations and mortgage instalments maturing within one year (less $340,000 bonds held in treasury), $2,441,636.90; Owing to affiliated companies. $73,465.84; Royalties and participations payable, $853,472.79; Advance payments for film, deposits, etc., $320,527.22; Current liabilities of subsidiaries operating in certain foreign territories having exchange restrictions. $94,889.83 $16.84o.209.83 Funded and Other Long Term Debt: 6% Debentures, Series due 1948, $18,800,000; Other bond issues and mortgages maturing after one year (less $1,482,480 bonds held in treasury), $33,826,872.22; Other bond issues and mortgages maturing within one year, subject in part to renewal, and standing demand mortgages (less $46,000 bonds held in treasury), $6,578,719.77; Purchase money and contractual obligations maturing serially after one year, $383,052.71; Secured notes payable to banks, maturing after one year. $5,500.000....... 65,088,644.70 Deferred Credits: Discount arising from purchase of preferred stock and bonds of subsidiary companies held in treasury, $903,824.18; Remittances from foreign subsidiaries, held in abeyance, $640,545.33; Miscellaneous, $488,162.44; Deferred foreign exchange credit (net), $541,380.21 2,573,912.16 Reserve for contingencies : " • V ' 366.000.00 Proportion of Capital Stock and Surplus of Subsidiary Companies Applicable to Minority Stockholders: Capital stock (including $151,185 of preferred stock), $156,536; Surplus (representing accrued dividends and equity, less share of deficits), $88,425.57 244,951.57 Capital and Surplus: Capital stock: Authorized — 7,500,000 shares of common stock of par value of $5 each; 103,107 shares of preferred stock without par value, (Liquidating value $55 per share. Entitled to cumulative dividends at the rate of $3.85 per share per annum); Issued and outstanding — 3,801,344.55 shres of common stock (without deduction of shares held in treasury, per contra), $19,006,722.75; 103.107 shares of preferred stock of stated value of $55 per share, $5,670,885, total, $24,677,607.75; Capital surplus per annexed statement, $57,241,427.59; Earned surplus, per annexed statement, $1,612,046.59. total, $83,531,081.93; Deduct— Cost of 610 shares of preferred stock held in treasury, $31,809.65 83,499,272.28 (Unpaid dividends on 102,497 snares of preferred stock to and including September 1, 1939 amount to $2,959,600.88 or $28,875 per share) $168,617,990.54 STATEMENT OF CONSOLIDATED PROFIT AND LOSS AND EARNED SURPLUS For the Year Ending August 26, 1939 Income: Film rental income, theater admissions, sales and miscellaneous income $98,024,760.55 Rents from tenants and royalties 4,058,370.70 $102,083,131.25 Cost of Sales and Expenses: Amortization of film costs, $29,596,777.04; Special adjustment of inventory of released productions, $551,371.17; Other costs, including royalties and participations, $2,142,837.58; Operating and general expenses, $58.280,542.05 90,571,527.84 Net Income Before Other Income and Charges Shown Below $11,511,603.41 Deduct: Amortization and depreciation of properties (other than $995,207.52 in respect of studio properties charged to film costs), $4,851,773.27; Interest expense, $4,172,835.02; Provision for miscellaneous investments, $178,444.02; Provision for possible additional taxes of prior years, $140,000; Provision for investments in affiliated companies, $26,301.70; Provision for contingencies, $12,000 9,381,354.01 Profit Before Other Income and Charges Shown Below $ 2,130,249.40 Other Income: Interest and discount earned, $180,974.77; Dividends received, $105,428.40... 286,403.17 Profit Before Minority Interests' Share of Profits and Losses and Federal Income Taxes $ 2,416,652.57 Add — Proportion of loss applicable to minority stockholders (net) 11,255.29 Profit Before Providing for Federal Income Taxes $ 2,427,907.86 Provision for Federal income taxes 687,000.00 Net Profit From Operations for the Year Ending August 26, 1939, Carried to Earned Surplus $ 1.740.907.86 Deduct -Deficit, August 27, 1938 327,298.60 $ 1,413,609.26 Add: Discount realized on redemption of debentures and bonds of subsidiary companies, $388,202.52; Profit on sale of subsidiary and affiliated companies, $122,150.72;, total. $510,353.24; Less — Loss on sales and abandonment and provisions for demolition of properties, $311,915.91 198,437.33 Earned Surplus, August 26. 1939. Carried to Balance Sheet $ 1.612,046.59 STATEMENT OF CAPITAL SURPLUS For the Year Ending August 26, 1939 Capital surplus, August 27, 1938 $57,134,330.74 Add — Appropriations authorized by the Board of Directors as of August 27, 1932 not required in respect of: Investment in participation of profits, license rights, etc., $60,000; Properties owned and equipment, $47,096.85 107,096.85 Capital Surplus, August 26, 1939, Carried to Balance Sheet $57,241,427.59 1005