Document 99gN8nByqy7xx7mQQbKLrYyGp

Ten Year Review Net earnings for 1961 do not Include a special Item of income ! , from an excess profits tax refund lor the years 1950-1933 j amounting to f995/100. ' The year 1963 includes the operj ations of The 5. K. Wellman j Company acquired in that year in a transaction which for i accounting purposes was treated as a pooling of interests. Net earnings for 1965 do not Include a special item of loss amounting to $644,000 after related taxes on income resulting from the sale of forging facilities. Common shares outstanding and per common share figures have been adjusted to reflect a two-for-one stock split in 1966. twenty-six Earnings and Dividends Shipments ............................................................. Earnings before taxes............................................ ' Per cent of shipments........................................ Per cent of capital employed............................ Net earnings......................................................... Per cent of shipments....................................... Per cent of common stock equity...................... Per common share............................................ Dividends paid..................................................... Per common share............................................ Per cent of net earnings..................................... Employees--end of year....................................... Payrolls Wages and salaries.......................................... Cost of employee security.............................. Total........................................................... Employee security as a per cent of payroll........... Shipments per employee....................................... Capital employed per employee.......................... 1967 274,847 23,070 8.4 14.8 11,270 4.1 9.1 3.05 5,909 1.60 52.4 14,325 92,566 12,354 104,920 13.3 18,841 10,678 Financial Position Capital employed Cash and equivalent............................................ Accounts receivable............................................ Inventories ......................................................... Total current assets.......................................... ' Current liabilities................................................ Working capital .............................................. Property, plant, and equipment.......................... Other assets....................................................... Total capital employed................................... Financed by Long term liabilities............................................ Common stock equity......................................... Total capital employed................................... Shareholders' equity per common share................. Thousands of common shares outstanding............. Number of common shareholders.......................... Current ratio........................................................... Expenditures for property, plant, and equipment... Depreciation and amortization of intangibles........... 15,383 43,655 48,699 107,737 29,550 78,187 68,876 10,836 157,899 30,877 127,022 157,899 34.42 3,690 18,560 3.6 12,322 11,233 1966 277,399 26,327 9.5 17.5 12,827 4.6 10.9 3.49 5,797 1.575 45.2 14,850 89,681 12,198 101,879 13.6 19,484 10,589 1965 260,168 21,704 83 ; 14.9 i 11,104 4.3 9.8 3.01 5,272 1.425 475 \ 13,624 ' J83,725 11,910 "j 95,635 1 14.2 I 19,158 1 10,736 I 19,944 44,535 48,596 113,075 37,289 75,786 68,037 9,813 153,636 22,152 34,468 43,161 99,781 25,830 73,951 63,642 10,288 147,881 32,214 121,422 153,636 33.05 3,674 18,131 ' 3.0 15,224 11,114 32,912 114,969 147,881 31.18 3,687 17,120 3.9 11,364 10,533 i SCI 01731