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FINANCIAL
LIABILITIES AND CAPITAL: CURRENT:
Accounts Payable and Accruals $ 8,949,523
Accrued Interest 283,213
Domestic and Foreign Taxes 8,564,496
Due to Foreign Banks 2,346,222
Funded Debt Payments Due Within One Year 2,822,528
TOTAL CURRENT LIABILITIES $ 22,965,982
Securities From Tenants, Film Rentals and Other Deferred Credits 1 .820,561
Premium Received on 3% Debentures (Net) 500,468
Reserve for General Contingencies 2,021,773
FUNDED DEBT:
Loew's Incorporated:
3% Sinking Fund Debentures — Maturity 1965 (Sinking Fund Commences in 1954) $ 28,000,000
2.85% Sinking Fund Debentures — Maturity 1965 (Sinking Fund Commences in 1955) 9,000,000
2% Promissory Note — Payable $750,000 Semi-annually 6,000,000
2% Promissory Note — Payable $375,000 Semi-annually. . 4,125,000
2% First Mortgage of Wholly Owned Subsidiary — Maturity 1958 —
$107,500 Payable Semi-annually 3,827,500
Bonds and Mortgages of Wholly Owned Subsidiaries 4,703,412
TOTAL FUNDED DEBT $ 55,655,912
Less — Due Within One Year as above 2,822,528
52,833,384
Wholly Owned Subsidiary's Preferred Stock 642,247
CAPITAL STOCK:
Common — No Par Value:
Authorized — 6,000,000 Shares
Outstanding — 5,142,615 Shares 45,772,891
EARNED SURPLUS:
Balance — Beginning of Year $ 94,700,515
Net Income of Loew's Incorporated and Wholly Owned Subsidiaries per
Consolidated Profit and Loss Statement 6,019,180
$100,719,695
Less — Dividends Paid by Loew's Incorporated 7,710,114
BALANCE — End of Year 93,009,581
$219,566,887
PROFIT AND LOSS STATEMENT
Including Wholly and Partly Owned Subsidiary and Affiliated Corporations After Intercompany Eliminations Except Film Rentals
Fiscal Year Ended August 31, 1949
OPERATING REVENUES:
Theatre Receipts, Rentals and Sales of Films, Accessories and M-G-M
Records $170,542,120
Rent Income 4,429,182
Miscellaneous 4,369,744
(Includes Operations of Partly Owned Corporations — $19,549,698) $179,341,046
OPERATING AND GENERAL EXPENSES:
Theatre and Office Buildings, including Film Rental Expense $ 50,807,342
Film Division Expenses and M-G-M Records Division Costs and Expenses.... 22,100,534
Amortization and Write-off of Film Costs 69,563.426
Film Advertising Accessories 591,407
Outside Producers' Share of Film Rentals 5,425,699
General and Administrative 2,611,489
Contributions to Employees' Retirement Plan 3,724,358
DEPRECIATION OF BUILDINGS AND EQUIPMENT:
Properties of Wholly Owned Corporations (Excluding Depreciation Charged
to Production Costs) $ 2,013.495
Properties of Partly Owned Corporations 756,662
Real Estate and Other Taxes 5,844,503
Rent on Leased Properties 3,357,561
OTHER INCOME:
Dividends Received $ 119,788
Interest and Discount Earned 306,570
Profit on Sale of Fixed Assets 29,006
Share of Undistributed Earnings of an Allied Corporation — Successor Corporation now Wholly Owned 525,855
Miscellaneous 369,274
154,824,255 $ 24,516,791
1 1,972,221 $ 12,544,570
1,350,493
$ 13,895.063