We use Optical Character Recognition (OCR) during our scanning and processing workflow to make the content of each page searchable. You can view the automatically generated text below as well as copy and paste individual pieces of text to quote in your own work.
Text recognition is never 100% accurate. Many parts of the scanned page may not be reflected in the OCR text output, including: images, page layout, certain fonts or handwriting.
622 FINANCIAL
FIXED ASSETS:
Land $ 11,785,795
Buildings, equipment and leaseholds 42,1 61 ,508
Less — Reserves for depreciation and amortization (24,211,747)
$ 29,735,557
OTHER ASSETS:
Deposits to secure contracts $ 547,793
Prepaid expenses and deferred charges 548,038
$ 1,095,831
$114,479,795
LIABILITIES AND CAPITAL:
CURRENT LIABILITIES:
Notes and mortgages of subsidiary companies $ 430,428
Accounts payable and accrued expenses 6,626,331
United States and Canadian taxes on income, estimated (less $2,400,000 U. S. Treasury
tax notes; 1950 — $1,100,000) 1,121,457
TOTAL CURRENT LIABILITIES $ 8,178,216
LONG-TERM DEBT:
Notes of Paramount Pictures Corporation 13,800,000
Notes and mortgages of subsidiary companies 8,518,984
OTHER LIABILITIES:
Advance payments, self-liquidating 959,014
Owing to wholly owned foreign subsidiary companies not consolidated 242,979
Miscellaneous 1 ,1 45,01 4
TOTAL LIABILITIES $ 32,844,207
RESERVE FOR CONTINGENCIES $ 6,218,588
INTEREST OF MINORITY STOCKHOLDERS IN CAPITAL AND SURPLUS OF SUBSIDIARY
COMPANIES $ 8,609,590
CAPITAL STOCK AND SURPLUS: Common stock, $1 par value:
1951 1950
Shares authorized 3,042,512 3,385,206
Shares issued and issuable 2,342,716 2,646,493 $ 2,342,716
Less — Shares held in treasury 600 191,293
Shares outstanding 2,342,116 2,455,200
capital surplus 62,608,478
Earned surplus 1 ,869,241
$ 66,820,435
Less — Cost of treasury shares 13,025
$ 66,807,410
$114,479,795
CONSOLIDATED PROFIT AND LOSS ACCOUNT
For the Fiscal Year Ended December 29, 1951
JNCOME:
Film rentals, theatre receipts, sales of film accessories and rentals $ 94,628,572
Dividends from affiliated companies 565,551
Dividends from wholly owned foreign subsidiary companies not consolidated 119,173
Other income 1,304,809
$ 96,618,105
EXPENSES:
General and theatre operating expenses, including rentals, film rentals, real estate and
other taxes $ 1 9,294,1 27
Film distribution, including cost of film accessories 19,949,278
Share of film rentals and royalties to others 8,447,160
Amortization of film (negatives and prints) and other film costs 34,865,820
$ 82,556,385
OPERATING PROFIT BEFORE INTEREST, DEPRECIATION, INCOME TAXES AND OTHER
ITEMS BELOW $ 14,061 ,720
DEDUCT:
Interest expense $ 81 3,363
Depreciation of buildings, equipment and leaseholds (excluding studio and laboratory depreciation of approximately $514,000 in 1951 and $530,000 in 1950 charged to cost of films) 1,507,680