You are on page 1of 10

(Dollar amounts in thousands

except per share figures) 1984 1983 1982 1984 1983 ratio 1984
a b c d=a-b e=b-c f=f/b g h
$ $ %
Revenues :
Net sales 398,708 321,010 447,461 77,698 (126,451) 1.24 98
Other income, including license and technical service fees 7,067 3,111 5,209 3,956 (2,098) 1 2.27 2
405,775 324,121 452,670 81,654 (128,549) 25 1.25 100
cost of sales 315,216 261,384 366,297 53,832 (104,913) 21 1.21 78
Operating income 90,559 62,737 86,373 27,822 (23,636) 44 1.44 22
less :
Product development, selling and administrative exp 72,196 85,795 113,457 (13,599) (27,662) 16 0.84 18
interest expense net 12,625 9,745 18,873 2,880 (9,128) 30 1.30 3
Provision for plant closing - - 23,700 - (23,700) 0 0.00 -
84,821 95,540 156,030 (10,719) (60,490) -11 0.89 21
Income (loss) before Provision (Credit) for Income Taxes, 5,738 (32,803) (69,657) 38,541 36,854 117 0.17 1
Equity Items and Cumulative Effect of accounting change
Provision (Credit) for Income Taxes 2,425 (1,400) (1,600) 3,825 200 273 1.73 1
Income (loss) before equity items and cumulative effect of Accounting
Change 3,313 (31,403) (68,057) 34,716 36,654 111 0.11 1
Equity Items :
Equity in earnings (loss) of unconsolidated companies 993 (3,397) (7,891) 4,390 4,494 129 0.29 0
Minority interest in (earnings) loss of consolidated subsidiaries (135) 170 (583) (305) 753 179 0.79 -
INCOME (LOSS) BEFORE CUMULATIVE EFFECT OF ACC SHANGE 4,171 (34,630) (76,531) 38,801 41,901 112 0.12 1
Cumulative Effect of Change in Depreciation Method
Net Income (Loss) 11,005 - - 11,005 - 0 3
Earnings (Loss) per common and Common Equivalent Share : 15,176 (34,630) (76,531) 49,806 41,901 144 4
Income (Loss) before cumulative effect of accounting change 0.35 (3.49) (7.64) 4 4 -110 0.10 0
Cumulative Effect of Change in Depreciation Method 0.93 - - 1 - 0 0.00 0
Net Income (Loss) 1.28 (3.49) (7.64) 5 4 137 0.00 0
Proforma Amounts Assuming the Changed
Depreciation Method Had Been Applied
Retroactively :
Net (Loss) (33,918) (76,695) 42,777
(Loss) per common share (3.42) (7.65) 4
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended October 31 naik/turun % dari penjualan
1983
i
99
1
100
81
19
26
3
-
(10)
-
(10)
(1)
0
11
-
11
0
-
0
% dari penjualan
(Dollar amounts in thousands ratio
except per share figures) 1984 1983 $ % 1984 1983
ASSETE
CURRENT ASSETS :
Cash and temporary investments 96,007 64,275 31,732 49 1.49 20 15
Accounts receivable 87,648 63,740 23,908 38 1.38 19 15
Inventories 144,312 153,594 (9,282) -6 0.94 31 37
Refundable income taxes and related interest 1,296 12,585 (11,289) -90 0.10 0 3
Other current assets 5,502 6,023 (521) -9 0.91 1 1
Prepaid income taxes 14,494 14,232 262 2 1.02 3 3
349,259 314,449 34,810 11 1.11 74 76
INVESTEMENT AND OTHER ASSETS :
Investment in and advances to :
Finance subsidiary, at equity in net assets 8,849 6,704 2,145 32 1.32 2 2
Other companies 4,445 2,514 1,931 77 1.77 1 1
Other Assets 13,959 6,411 7,548 118 2.18 3 2
27,253 15,629 11,624 74 1.74 6 4
OPERATING PLANTS :
Land and improvements 9,419 10,370 (951) -9 0.91 2 2
Buildings 59,083 60,377 (1,294) -2 0.98 12 15
Machinery and equipment 120,949 122,154 (1,205) -1 0.99 26 29
189,451 192,901 (3,450) -2 0.98 40 46
Accumulated depreciation (93,259) (107,577) 14,318 -13 0.87 (20) (26)
96,192 85,324 10,868 13 1.13 20 21
AMOUNT ASSETS 472,704 415,402 57,302 14 1.14 100 100
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term notes payable to banks by subsidiaries 9,090 8,155 935 11 1.11 2 2
Long-term debt and capitalized lease obligations payable
within one year 973 18,265 (17,292) -95 0.05 0 4
Trade accounts payable 37,716 21,228 16,488 78 1.78 8 5
Employee compensation and benefits 15,041 14,343 698 5 1.05 3 3
Accrued plant closing costs 2,460 6,348 (3,888) -61 0.39 1 2
Advance payements and progress billings 20,619 15,886 4,733 30 1.30 4 4
Income taxes payable 1,645 3,463 (1,818) -52 0.48 0 1
Account payable to finance subsidiary - 3,436 (3,436) -100 0.00 - 1
Other current liabilities and accruals 29,673 32,333 (2,660) -8 0.92 6 8
117,217 123,457 (6,240) -5 0.95 25 30
LONG TERM OBLIGATIONS : 232,042 190,992 41,050 21 49
Long term debt payable to :
unaffiliated lenders 128,550 139,092 (10,542) -8 0.92 27 33
Finance subsidiary - 5,400 (5,400) -100 0.00 - 1
Capitalized lease obligations 7,870 8,120 (250) -3 0.97 2 2
136,420 152,612 (16,192) -11 0.89 29 37
(Dollar amounts in thousands ratio
except per share figures) 1984 1983 $ % 1984 1983
Defferred Liabilities and Income Taxes :
Accrued pension costs 57,611 19,098 38,513 202 3.02 12 5
Other deferred liabilities 5,299 7,777 (2,478) -32 0.68 1 2
Deferred income taxes 6,385 134 6,251 4665 47.65 1 0
69,295 27,009 42,286 157 2.57 15 7
322,932 303,078 19,854 7 73
Minority Interest 2,400 2,405 (5) 0 1.00 1 1
Shareholders' Equity :
Preferred Stock $100 par value-authorized 250.000 shares :
series A$7.00 cumulative convertible preferred shares :
authorized, issued and outstanding 117,500 shares
in 1984 and 100.000 shares in 1983 11,750 10,000 1,750 18 1.18 2 2
Common Stock $1 par value - authorized 25.000.000 shares
issued and outstanding 12.283.563 shares in 1984
and 10.133.563 shares in 1983 12,284 10,134 2,150 21 1.21 3 2
Capital in excess of par value of shares 114,333 88,332 26,001 29 1.29 24 21
Retained Earnings 19,901 6,475 13,426 207 3.07 4 2
Cumulative translation adjustments (10,896) (5,022) (5,874) 117 2.17 (2) (1)
147,372 109,919 37,453 34 1.34 31 26
AMOUNT LIABILITIES AND EQUITY 472,704 415,402 57,302 14 1.14 100 100
October 31
October 31
CONSOLIDATED BALANCE SHEET
naik/turun % dari total
naik/turun % dari total
rata-rata rata-rata
piutang 1984 1983 inventori 1984 1983 1984 1983
1984 1983 1984 1983
75,694 398,708 321,010 5 4 68 85
148,953 315,216 261,384 2.1 1.8
2,145
1,931
7,548
(951)
(1,294)
(1,205)
14,318
0.683159 0.729602
0.335616 0.392614
(10,542)
(5,400)
(250)
CR
(5)
1,750
2,150
26,001
13,426
(5,874)
43,748
2,698
41,050
Perputaran
piutang
PENJUALAN hpp perputaran persediaan pengump
piutang
1984 1983
164.81 212
pengumpulan persediaan
(Dollar amounts in thousands) 1984 1983 1982
Funds were Provided by (Applied to)
Operations :
Income (loss) before cumulative effect of accounting change 4,171 (34,630) (76,531)
cumulative effect of change in depreciation method 11,005 - -
Net income (loss) 15,176 (34,630) (76,531)
Add (deduct) items included not affecting funds :
depreciation 8,077 13,552 15,241
unremitted (earnings) loss of unconsolidated companies (993) 3,397 7,891
Deferred pension contributions (500) 4,834 -
Deferred income taxes 6,583 (3,178) 1,406
Reduction in accumulated depreciation resulting from change
in depreciation method (17,205) - -
Other - net (2,168) (67) 2,034
decrease in operating working capital (see below) 7,039 11,605 72,172
Add (deduct) effect on operating working capital of
conversion of export and factored receivable sales to debt - 23,919 -
Reclassification to deferred liabilities :
Accrued pension costs - 14,264 -
other liabilities - 5,510 -
Foreign currency translation adjustments (6,009) (1,919) (5,943)
Funds provided by operations 10,000 37,287 16,270
Financing, Investment and Other Activities :
Transactions in debt and capitalized lease obligations-
Long term debt and capitalized lease obligations :
Proceeds from sale of 15% senior notes and 12%
subordinated debentures, net of issue costs 120,530 - -
Other increases 1,474 - 25,698
Repayments (161,500) (760) (9,409)
Restructured debt - 158,058 -
Debt replaced, including conversion of receivable sales of
$23,919, and short-term bank notes payable of $9,028 - (158,058) -
(39,496) (760) 16,289
Net increase (repayment) in short-term bank notes payable 2,107 (3,982) (2,016)
Net increase (repayment) in debt and capitalized lease (37,389) (4,742) 14,273
Insurance of :
Common Stock 21,310 - 449
Common Stock purchase warrants 6,663 - -
Salaried pension assets reversion 39,307 - -
Plant and equipment additions (5,546) (1,871) (10,819)
Advances to unconsolidated companies (2,882) - -
Other net 269 1,531 848
Funds provided by (applied to) financing, investment and other activities 21,732 (5,082) 4,751
Increase in Cash and Temporary Investment Before Cash Dividends 31,732 32,205 21,021
Cash Dividends - - (2,369)
Increase in Cash and Temporary Investments 31,732 32,205 18,652
Year Ended October 31,
CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL POSITION
HARNISCHFEGER CORPORATION
(Dollar amounts in thousands) 1984 1983 1982
Decrease (Increase) in Operating Working Capital (Excluding Cash Items,
Debt and Capitalized Lease Obligations) :
Accounts receivable (23,908) (5,327) 42,293
Inventories 9,282 56,904 26,124
Refundable income taxes and related interest 11,289 (2,584) (6,268)
Other current assets 259 10,008 (439)
Trade accounts payable 16,488 (1,757) (3,302)
Employee compensation and benefits 698 (15,564) (3,702)
Accrued plant closing cost (3,888) (14,148) 20,496
Other Current liabilities (3,181) (15,927) (3,030)
Decrease in Operating Working Capital 7,039 11,605 72,172
Year Ended October 31,
Capital in
excess of cumulative
Preferred Common par value retained translation TOTAL
(Dollar amounts in thousands except per share figures) stock Stock of shares earnings adjustments
Balance at October 31, 1981 10,000 10,085 87,932 120,005 - 228,022
Cumulative translation adjustments through October, 31 -
1981 (1,195) (1,195)
Issuance of Common Stock -
10.000 shares to Kobe steel, Ltd 10 91 101
38,161 shares under stock purchase and dividend
reinvestment plans 39 309 348
Net (Loss) (76,531) (76,531)
Cash Dividends paid on : -
Preferred Stock (350) (350)
Common Stock $20 per share (2,019) (2,019)
Translation adjustments, net of deferred income taxes of -
$128 (2,928) (2,928)
Balance at October 31, 1982 10,000 10,134 88,332 41,105 (4,123) 145,448
Net (Loss) (34,630) (34,630)
Translation adjustments, including deferred income taxes -
of $33 (899) (899)
Balance at October 31, 1983 10,000 10,134 88,332 6,475 (5,022) 109,919
Issuance of : -
2.150.000 shares of common stock 2,150 19,160 21,310
2.000.000 common stock purchase warrants 6,663 6,663
17.500 shares of Series A $7.00 cumulative convertible -
preferred stock in discharge of dividends payable on -
preferred stock 1,750 (1,750) -
Net Income 15,176 15,176
Translation adjustments, net of deferred income taxes of -
$300 (5,874) (5,874)
Other 178 178
Balance at October 31, 1984 11,750 12,284 114,333 19,901 (10,896) 147,372
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
HARNISCHFEGER CORPORATION

You might also like