UNITED STATES SURGICAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
| December 31, | |||
| In thousands, except share data | 1996 | 1995 | |
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents | $ 106,700 | $ 10,500 | |
| Receivables, less allowance of $11,700 (1996); $8,200 (1995) | 287,600 | 247,300 | |
| Inventories: | |||
| Finished goods | 128,300 | 92,700 | |
| Work in process | 32,300 | 28,800 | |
| Raw materials | 30,000 | 39,700 | |
| 190,600 | 161,200 | ||
| Other current assets | 106,700 | 72,900 | |
| Total Current Assets | 691,600 | 491,900 | |
| Property, plant, and equipment (net) | 447,700 | 504,900 | |
| Other assets (net) | 375,500 | 268,700 | |
| Total Assets | $1,514,800 |
$1,265,500 |
|
| LIABILITES AND STOCKHOLDERS' EQUITY | |||
| Current liabilities: | |||
| Accounts payable | $29,400 | $28,600 | |
| Accrued liabilities | 177,300 | 148,900 | |
| Income taxes payable | 83,800 | 78,600 | |
| Current portion of long-term debt | 4,700 | 4,200 | |
| Total Current Liabilities | 295,200 | 260,300 | |
| Long-term debt | 142,400 | 256,500 | |
| Deferred income taxes | 23,400 | 7,600 | |
| Stockholders' equity: | |||
| Preferred stock $5.00 par value, authorized 2,000,000 shares; 9.76% Series A cumulative convertible, 177,400 shares issued and outstanding (liquidation value - $200 million) |
900 | 900 | |
| Additional paid-in capital - preferred stock | 190,600 | 190,600 | |
| Common stock $.10 par value, authorized 250,000,000 shares; issued, 71,367,780 at December 31, 1996 and 65,293,157 at December 31, 1995 |
7,100 | 6,500 | |
| Additional paid-in capital - common stock | 623,900 | 394,200 | |
| Retained earnings | 318,000 | 233,200 | |
| Treasury stock at cost; 8,080,983 share at December 31, 1996 and 8,127,219 shares at December 31, 1995 |
(86,400) | (86,600) | |
| Accumulated translation adjustments | (3,100) | 2,300 | |
| Unrealized gain on marketable securities | 2,800 | ____ | |
| Total Stockholders' Equity | 1,053,800 | 741,100 | |
| Commitments and contingencies | |||
| Total Liabilities and Stockholders' Equity | $1,514,800 |
$1,265,500 |
|
Trademarks of United States Surgical Corporation and its subsidiaries throughout this publication are italicized.
Copyright © 1997 United States Surgical Corporation. All Rights Reserved.
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