Document KR9MVa3n4KOgzrJnXOxXpREVr

Cleveland 14, Ohio November 3, 1960 OPERATING PROFIT - THREE-YEAR COMPARATIVE OPERATING STATEMENT Mr D. E. Erskine oo: Mr. B. W. M&xey Mr. W. G. Phillips Mr. R. R. Augsburger Ur. R. B. Werner Attached is our three-year comparative operating statement whioh adjusts published not profit before taxes to an operating profit before taxes. This report has been prepared on a basis consistent with that for the prior two years which adjusts our published net profit by the several items which are considered to be income or expense items not arising from operations. With the change in our published operating statement in 1958 so as to arrive at an item "income from operations" it is important that a great deal of cars be exeroised in our reference to an operating profit or by similar terms. This year we have not referred to the published unusual items that we had in 1958. How ever, the adjustments that have been made to arrive at an operating profit are consistent with those made for the two prior years shown on this sohedule. The sohedule below details what these unusual items are for the three years: PAINT Capital Gains - Honolulu - Miscellaneous Fire Loss - Unreoovered Expense Total Paint 1960 49,768 3,985 53,753 1959 - 1958 (217) (73,020) (73,237) FOOD Capital Gains - Hillside - Norwalk \ - Berkeley Start-up Expense - Pauli - Bethlehem Shut-down Expense - Elmhurst Total Food 1,091 (29,768) 39,176 10,499 (9,901) (9,901) (187,503) (33,297) (220,800) CHEMICAL- FIGMENTS-METALS Capital Gains - Miscellaneous Start-up Expense - Adrian Joyce Works Regular Depreoiation Idle Plant - lakehurst Mine (257,714) (170,993) (159,080) (163,604) (1,355) (166,026) (514,709) (112,264) Shut-down Expense - St. Helena - Euston Lead Total C-P-M (60,363) (109,697) (1.322) (640,761) (282,012) (110,932) (39,943) (945,229) ORGANIC CHEMICAL Capital Gains - Valdosta - Miscellaneous Development Expense - Fine Terpene3 Start-up Expense - Port St. Joe Shut-down Expense - Southern Pine Total Organio Chemical 274,595 8,040 (479,885) (113,269) 9.651 (197,250) (103,618) 3,050 (222,599) (31,407) (250,956) 2 CHBMURQY Shut-down Expense - Engineering and Architect Fees Fire Loss - U & 0 Recovery Total Chemurgy HEADQUARTERS LIFO Reversal Capital (Sains - Euston Lead - Hillside - Elmhurst - Evansville - Iron Street - Metals Refining - Buena Park - Miscellaneous - Securities Start-up Expense - Port St. Joe Shut-down Expense - St. Helena - Iron Street - Elmhurst - Scranton - Sterol - Chemurgy - Southern Pine - Norwalk - Miscellaneous Loss on Default of Contractor Dumont Write-off Total Headquarters Total Company 1960 1959 1958 (125,053) 76,726 (48,327) 263,662 43,579 (72,421) (109.326) 125,494 (12,606) 41,742 (4,512) 23,643 3,261 (1,154) 27,528 11,318 367,528 30,690 (3,528) (18,869) 6,641 182,336 (25) (184,419) (1,215,239) (7,452) (113,490) (2,258) (78,868) (44,830) 2,614 89,220 (1,079,169) KEJimkr K. S. Johnson GLD018926 UtdfQ 9*0 Cr y tr P* o s3 H & eg a osr 9h H<> no 1HP 3 % ^s 52*? OPBHjmUO PROFIT to HA -4 tO A VO to to u p u to 2 to H S H V0 A 8 to SKB M A OB H 2 10 o 10 M MM A tO O 10 O u to A p 6 VO M n Sw u i <o -o at h < tO M M Ol <4 to Ok -9 A 4* n *8 to 03 m ^ H O) IC O CX> AA to M M w <e i i to 1=2 o' Py 3 S- 2 N> H H H CO U O CD H U e Ok Cl -J % To W Wvo Coo H H 10 a w 10 OB A a 03 A tO 04 Co M O to 1 to <OOIO IWHO M2i0S0 tSO i< m --* o *4 ^ O CO HA 4 lO CO -9 0* tO M to -4 ifi M <0 M A A * O AA tO H H M 0 -4 >> H pA to S O no 9 3 33 US H O Ul o <o to CO -4 AM cr -4 A 8S AMv 4D VO -9 ( 2 O O to to /-* to 3 SSSS M^4 H H O0iO3O00Oi 82! 3SES HKA WMMH MQ >O 1 W <0 )U9C) H h* 8M H H 2 fi O *4 lo *4 O H , CO A * a9 t*frj " f cr vf t* Hi Ho? 9 *o k h* a ??? Ip?? `OOP 9^5 at* v-- <+ o g --. MM M SM t-i S M tO A c3 -9 -4 A tt tO O tO CO A 3 M <0 VO /~ -4 o to o tO HH A tO M U <0 M (A U to ^4 A pi M A A A M--* 4 *9 tO I M I3SS 3HA _____m to pi O K 'riPH <4 M O V0 ro O ro -9 O O MP 5 O O -4 to 4 0 OI M 333 ff uiiiiOH3 --* fo H Ci mH -3 M tO 1 'H4 > MHi K Ui (O U O U O 4 OJ MJAW iu O (0 4 tO -4 <*9 M CD 4 N VO PS O C4 HW4 100CD to 4 10 4k to tO^S2 9 10 10 O to to m e> a to OA H to M tO tO M -4 OH MM K 4k Q A A 10 A 10 -9 10 04*^ to p0 to A N -J U H 4 O 4 O A M <0 O to A 4k tO CO 4 tO tO & to to 7- M V0 to CD o sO o (jl ClH ^ H 4 *|> UI 1Av0o to AaA 1H0 to HM CnU H O Ol H h H tt -4 10 4k Q CD C0 4k OA 9 55 9 5-1 M JS 9 H- 9 5 asr fJg 4 O S S' 3 3 9a B " O t* 9 w cf O I M H VO *tO4 O U MO 4k W 9 A 10 P9 A to VO A 10 AA H -4 tO A O H CO O A s S' O 0 9 333 *% ct 4 H*H> OPBRATIHO PROFIT (C o n tin u e d ) r - 8u C * + o' JO? p H* D t; e3 s i p 4 n+ OOP u V 9a oi ^ ot mom o to to *9 'S 333 cf i-J H* H a 9 a *a v c-- o c*- o' T *-> at to OJ 0* U) C .in o LB 9 ? fl