Document Vj6Km7LNZdka2p55ZKwOvRdqq

SECURITIES AND EXCHANGE COMMISSION Washington 25, D. C. FORM 10-K ANNUAL REPORT ITEM 10(a) - FINANCIAL STATEMENTS for the fiscal year ended December 31, 1958 JOHNS-MANVILLE CORPORATION % MTC 001642 >E Xo ^ 3 03 OUT) rH " 3 41 4' C fe= 73 a.' ow a> WO 3 3a1 SCHEDULE X V II - INCOME fro m DIVIDENDS EQUITY i n NET PROFIT ar.d LOSS o f A FFILIA TE S fo r th e y e a r ended December 31, 1958 C am q r* a>a --o a *0 3 3 3 a (D U, a a o Li 3 3 3 tt* o 3 Oa l a- -tO)UH Eo a<0 OC co H H a: oc IEU t, t) Cm O O 0E) I CO o O E*) o --- H Oc oO-wto <6 a 31 CO M> 4J Ho ooactto CO CM CO CO o CO o o o rH 3 m 03 3 c0 o rt H 0 to n 0) 3 3 mH q o 3 <u eg 3 41 a> O a E E o Cl O 4P a 3 *3 o <0 3 a 3 o 0) 0) u o* <0 Cm Cm Cm Cm Cm Cm 0 0 M 4P> JP o M o 0 o o O o O H o 4P> H a p-t > -i 3 3 3 3 -- 3 3 d 09 3 EE rH 0 C O 0 O O O O O 0 3 4P> o aaO U rH rH H rH O O a 3 3 3 Li 4P> 4-> Li 4-> 4-> 4P> a 3 3 3 03 CO 4> 01 ca o eg eg eg eg d eg d 3 o o O O >* 4P> 3 Li 03 o u 3 3 3 3 3 3 0 o O o rH 3 U < rH w o ma O a O a OO aa O a Oo a 3 a 3 M 4H d 3 d 0) a O C rEH Cm 0) E 3 3 3 3 3 3 3 eg 3 a s o *3 CO a 0 -H O o o o 0 o o o 0 o o o O O o o rH 3 03 d 3 O O 09 o 3 a< o a O > CO QJ --'d 4U eg d 3 eg o co fflrH *P rH >>-H CO 03 Ht3 U Li 4jm o a 03 Li O 03 o 4m Li wo 00 Li o 03 4U O O i 3 3 rH Li O o eg o 3 4) iH 4> 41 rH rH rH rH 3 41 d d rH H 3 4) fH X d d E-* 4J 03 3 3 3 3 3 1 3 4P 3 ra rH C 41 o 3 cdfi-o T3 o o *C a o d O 4) 4) 41 > > > Q E rH 4> o 5-3 0 0 O O o o O 3 4- a 4P> rH 3 3 3 3 X> c5 eg to Ea cu O Cm 3 a 3 CL 3 Cl 3 a 3 Cl 0 O 3 5 a 3 M d C2 E i *9 d E 0 41 41 o O *3 E E WOO,' 0) 0> 0) 0) <D U 0) 4) 0) 4> 4> o Q 09 4P> 41 41 Cl CJC<H oo > > > *H O 3 3 C >3 3> >3 3> >3 Li a CCJ eg ro E 3 EE (0 I 0 rH d d d d d d d eo C d to d 73 0 a a d d d 4c) ad c 3 3 c 3 3 C 3 3 3 3 3 d d a 3 Li sz a a a a a a a a a a a 3 3 3 73 3 3 3 aa a a w Oa O 0 o o o o 0 o o o o 0 d d 0 e o o 0 z o a-s *"3 *-9 >-9 *"9 >n 3 "9 *"9 "9 O o CO a -9 *~3 *3 3 CO CO <0 o O o sI- 0) 3 0) O eo 03 *0 <m O 4) C 3 a a CO 3 3 O a 3 CO a EO CC <D0 H0-i^3a o 3 R (. 0*0 H C QU 4i 3 41 T Cl 3 H a 3 A 41 03 *0 a -3 b a 0. 3 S eg 3 3 a (C C3 C0 jr cm a < O T) O *3 a <r 3 Ci> h3 E- * (d I- 3 T> a C rH -.a CO O >c 0m0 O 0P) OB aO EX 3a 3 3a a E Oa tc73 ---- 41 41 OJ 3 U 733 c. >r- C >, ar au h aj ^ o Cl 3 to a n E 19-h O 41 O 03 4l a 43 >> 3 > 3 303 cfl 4* <5 O a -I r-1 a 3H ENC a -H O t**-a 03 > O a --3 -a 3 d 4> rr, a 09 E a 4>J Cm l jjO O Cm 03 ^3 oc- a OU K mo O >> 4' Wo 0; C -r- 3icoE pmade3 c ce o 3 s *- E Uw* 3 01 O *D iH (dgu ou a a <U c0 Li E 03 a Ch B 4)3 d JD 3H oCO 0 ~3-i -CP C3O vo d o >,c- c d 3 rH rH H O 41 3d a H E bo O rH CVI a 3 B 41 CUg m d 3* 41 4J rH d 4i rH d a n 3 a 3 Li d 3 d rH d eo d d *3 o O Li rH rH rH 73 3 *3 41 rH to 01 d 41 41 rH a OH 4> a n d Li d > Li c 3 41 a 3 0 3 01 33303a rH > a d rH cj a o O 3 41 a 3 W 0 a d l-** 01 < 4U - CQ o w' >a c X C *C3 O y y as h -H E ^3 r0t) H4J l_< a Q.U-. O jOs aS^oCm W CO o- HH Ct H o VO OrHJ rH aPs o LTi o V(VO CVJ o VrHO cmGov.Omvmho-am0D.' rfH--pm*cOoJ <-s U> H OJ Oa> rH op?i 00 zo4c) mmm* 0) CO z o E-* 4* o 00 H* VrOH o VO OJ *H 00 CO <H OJ OJ minvoo ro--cmocvos o> On oj O OJ VO CO H1 OJ t--OJ 00 ON OJ co 2 CO OJ H ovHooll O1--J( p VVpOOji in rH 4* in oj m H t*p 4* 4 4fr H ** 0P3 OC P O3 sraa> oo U oSI rV s x o CO oHi E<- co CO rH m M x oa. 2 eIH- fe. O4) E01 oO y u X Hi a4> w w > 3h X 4a> o c 2 2 4) s 1 CO X g wh3 0. o. S 41 >i o X 00 41 X > > n -P->4 JO <H cn<? m hCO CTv m e--t- pj VO H Ol p* CO OJ H OJ VO vo CO in pH 4* 4* O 4* 00 in in m 4* H60o39 o cmo co pH m o < 00 0m0 VmO mO p* opH CJ & m^m< mh- > a pH o vo VO -4* OJVO 0m0 00 OJ OJ GO OJ pr cu h* mio pH vOI 't>\ in om pH OJ pH OJ CO 0* m t--t--O r--p* VO o VO O' t- H m Odl pH rH OJ J 4* * 4* 4* m cuOonJ i VO v0O0 oj in o mo tm--mir VifOr- m| min m vo rpHH O' o CO (TiOOV CpOH f-- O rH rH CVJ otr**-- O' ti*n- pH rH rH m <* in < co OP < .PCO CO pNH P41 PO 44J1 O 2 t- 2 o-- E CO Cl? 03 P 41 X *3 41 c? CWO 4a->s ! cc C T-* rOlr4t1 JCO 41 E O y > L 4) aou a CO 01 4) Cm y rt c 0 y 4J y ai *3 c as as O. yy co y '-- c czo O 41 os au a c 4> 0! C? T3 P ff* O H' H a C Ot)H PH fCl HC ai y H TS . y 4i as yta* Cxm c C c0) C >> C 41 CCP O Oi J.H t(p| 4P L. Si SS 3 a> c k u a: 41 41 01 s: 03 *3 fci 4) 4P CP 1. OH ffl 4P ppcHe pH 4yP o co y cc as rH rH pa>? o 6-i a> K o 5 ' r SEyJ to o 4H1 Oc Ho> < aHs 4PCO as y Hv pNH +4>1 h o CO O 2o 2 rH 3 a O'--' E 03 paH) as co 4i o o H4) (HP *3 y aCs nU xCO H> pcH H Cp > 41 O y au c --* E o a r-l O 4) CQ o a on as "a O 0) HHP HOC 01 pH ptHO 41 fc o pcH o. pH cd CcO a41 acs Hy c > c QP O y O OP CJ +' HB0IH P U B pH 0J 2 co3c41. 3 O c O *3 iH 41 41 *3 OS pH C a? 4-' CO *H jz a <v c s- 4i h c as <m s: as a o pH cd H pH *3 C y 4> as paHs pH cs 4i y HP o yt- pxH pcH 0y3 Oo cyd raHs Cd h <H ph a<H Cm x co X w co < S- y as os Q Eh a 4) f x 6- 4-i o 2 -P co uai Ey tCoO c CO > CO N o td ei r eA rc t l yE xcl to u s iv e vend of rs custom d u tie s and sales o r e x c is e o f m a te ria ls and se rvice s Instead o tax of edsi r ep ca it ldy to ta xin g a u th o ritie s . to o O CORPORATION . CAPITAL SHARES er 31, 1958 Schedule XIII Capital Shares ;s .C fell by for :ount Issuer sreof Col. E Shares Outstanding as Shown on or Included in Related Balance Sheet under Caption "Capital Shares" Amount at Which Number Carried 33,192 6,283,192 $115,464,864 Col. F Number of Shares Held by Affiliates for Which Statements Are PI? ed Herewith Persons Included in Consolidated Statements Others More None Col. G Number of Shares Reserved for Officers and Employees 500,440(1) Col H Number of Shares Reserved for Options, Warrants, Conversions and Other Rights None see Note 6 to financial statements): lan 288,060 shares 212.380 shares .440 shares .bsidiaries are omitted from this schedule; H in respect of such subsidiaries would be P-20 MTC 001645 JOHNS-MANVi: SCHEDtJLE XIII as at Dece: Col. A Name of Issuer and Title of Issue Johns-Manvllle Corporation Common Stock, par value 95 per share Col. B Number of Shares Authorized bv Charter Col. C Number of Shares Issued and Not Retired or Canceled Col. D Number ox' Sha Included In Co Which Are Not Held by or c for Account A of Issuer of Thereof __ T 25,000,000 8,283,192 None 8 Notes: (l) Reserved in connection with Employees' stock purchase Incentive stock option pla (2) The shares of wholly owned s the answers to Cols. 0 ana "None." F-20 MTC 001646 V w ft X 3a iH 3 3> 3 U 33 3 Cd Cm G `O Ed 3 O 3 3 cat. 303 O HHL O a o O' CM N OJ t- C4 omr- ooCT O CJ oCM vo CM CrHO IT CO ** oo o Cr OIT * c Q o -H E > U ob EVh 3 m 3 *3 0) ft) OS CinM VO oo oON o CM 0J cr i-i Ov in CM tCM- t- rr VO O omo itnr h- CO oo O H A pplied as a re d u ctio n o f accounts re c e iv a b le from s u b s id ia rie s n o t c o n s o lid a te d . JOHNS-MANVILLE CORPORATION SCHEDULE X I I - RESERVES th e y e a r e rd e d D ecem ber 31> 1990 Ba Be of 3 e c a> 3 3 b0 o Eh o (CO u o . .s fmf O *3 c^ T0J)*Q' O t) (OSU t)0H 03 a OridCoElh- * ooo 1 dhCU- 1 I 1 otO*s- CmITOi lj dh- vO CM t*- <u| 4 O CM VO c--- ooo vo t- in orC--M i-1 CM co itoe d. u ctlb le w ritte n p ro vid e on nonded re v io u s ly rve s were (0 3 60*3 3 rCt w0H rH oO G CU 3L* L.* C3L bO VO VOO vmo oo CO rH C" CM in CM rrH- CITO VO 1 *> * ! O o o CNOt*- Ol o J 0CM\ OV m mm 3 vo O oo vr--o CinM VoO VVOO vO vVmOO p e e ffe ct d e b ts he res L. O Cm t a 3 G *3 H C <rl 33 33 ta x bad ich Li bO c 3 .. Qj --* >> c t 0 0 rH rH 3a 4-> S a 333 H Li O U 3 *3 C o q, 3 3 o 3 f- L< 3 MH 3 Q M->4J 3 3C C LH hH EOh Hm co 6m a> un Oa 3> a> OeO- tt0O,) -HH 0) a) os 3 HI 3 3 4H "3 0 3 O Oo 3 c; c3 O o rH 3 3 4H P -H 3 *3 O C. *3 3 Cw 3 OC n UO r;H hH ft) co i: 3 Eh ft) Eh 3 > O E- ' Q.'O 3 Eh CD 1 O 03 0) o as 3 C3O 3 p C 3 O w H 3 3 3 3 G wH <M O *3 Li 3 a-P' 3 >>'3 C H 3 rH o. u 3 0C O0 Li O 3O 4' 3 C HL (J G3 Eh *H C >5 ELh Li' tO O -3 <>U 33 n U > a) 3 3 CD - 1) ' co OS C ft) r-w E >P HLC 333 DH g > "3 -> Z tH 3 hH 3 3 > C3C 0 H 3 *3 E Q ft) O O *' rfflL *3 L. -H T? OH D <U O no L0>J OC0O*33 3 c o 3 .. * G 35 Eh 33 3 - bO 3 3 3O C *3 30 L. G 3a 3 U)Sh o Eh Lh C0m 3 05 03 > 05 > E3h Laa>i oC3sO 0E> 3 a o G 3 - c 3 E 5 Eh 3 OG 3C 3 Eh L. O3 G 3 C > Cm Eh 05 3 (0 03 01 3 > O ss au E3 33 C 3 H gi rH +' 3 3 CO 3> a3 c- o 33 M] 3 Fed Col Cha e ra l income le rg c e ti s on fo s r on wh rH <m ro in S u b s id ia ry sold in 1958- t JOHNS-MANVILLE CORPORATION SCHEDULE X - INDEBTEDNESS to AFFILIATES - NOT CURRENT for the year ended December 31. 1953 Col. A Name of Affiliate The Corporation (Separately): Accounts payable to suosidlarles consolidated: 3 wholly owned companies 4 wholly owned companies Accounts payable to subsidiaries not consolidated: 1 wholly owned company Col. 3 Balance Payable at Beginning of Period Col. C Balance Payable at Close of Period 229,071,047 423,197,136 283.581 61,799 $29.^59.028 $27,259,266 F-lS MTC 001648 JOHNS-MANV IL L E CORPORATION ( l) : R e c la s s ific a tio n s and adjustm ents. c MOO > -H s(zJ a0)) sap CO K Q z o M Eh Id a *C CM et 2 cz: 2Z O a. hm zr 3 O' p-r Id CO A OV <-* ' ^ rn t, O Id o X0* c (0 Id a 2e- &. < O -5 Cm C- CO > Id > >H X cc Id Id WJ Cm Id o XX Cm Id _ ? Q Id X 00 ets <m O T3 <D O COM p- m oO AA ov CM O P- * Ov CM 4* CO VO rM ov CM o P P- O vo --; vO CM CO CO TT Ov X A .in CM VC CM on Ov * O ov Cvj on M p- VO CO <? *-- o vo CM on p- o cc ** rM CO k fM vC i~i Ov M CM VO on VO o on 4* Po o O CM CM M-* ID Li bO m CO c *o <D (S <V > r. u * o o 0N M b Li 0) <D X X XJ Li 0> OQ o tt P Li 2 p c a> o 0) M E 3 E car <D o 0) 2 c o U 0i Cfl J QMC P a> a CD X a> A m VO lA P- Ov vo P*M. ov M vO CO Ov o M 4* MH "M--' O'* o CO 00* CO (** CM i-H m n> o o r-- A CO CD r-{ A CM A r-t CO P- P- ^11 CM on|l `O on CM VO CM O tHj O' J p- on OV P- P- A vC A CM VO M p-. P- VO! A r-H *3' 4&| 3 S1) a' : tCX O 'O P c i. 0 <D o F D ^ tt o a.M CO o tM q c -2 o Ck. CO on CO n on an A CO ov pCM on Ov A p- A o CO OVI VO OV o on m cr CO] OV CD Tf Ov ov CM MV Ov CM A CO rvi fM p- rH on O Ov p" o Ov O CC A CO. CM VC o p- r~H m r--| l vOJ m Ov a A| fM O' a 4-> to tOTJ co c a> -- uc c :cn o o CC O Oh 3XO Ov O .-- CM M *' OV A OV CM 4 A OV rH on Vf) n VO O CD P- p- Ov O P A A UV A Ov on CM v*> on on vn h- IT' p- on o Ov CM or o Vi) -3> ov p- OV A <--1 A a n -H CM rfon vO M CM i--i VO CO . CM ^S* . Vr| a> o i. tc on rto Li Li nj cd wo cs O -t t- c. a 0) <D 33 E'--' a bOSO- a 3 ra o a> SZ M O a >M CD o o 2c M (0 c a. Cm o a O) (O vOo o 43 C <0 ** &. y > e. ^V*3Jpa3* 3 I- IT O y Id 0/ a O Ot. *C3 CO 0- <3 CO in on 5 Id coc a. JOHNS-MAEVILLE CORPORATION ( l) R e c la s filflc a tio n , and adjustm ents. 43 CO Cm O *3 yO pH o O ca y coa -UoH o H H Cm cC CJ CQ Tp pH CM VO rVN VO CM ON ON v;> it--nt sO tP in O CN CO irN UJ C- o Tf o vn o a) Tp C5 f-- fx. tn co m VO *H ON vo Tf n vO pH CM vo m UN c-- VO '** CO --i * UN CM CM CM --I o PO o CM CM O O CO m * cm On OJ m TP o CM Hp vO pH CO --H P CC co pH CM CM iP iO 8 iP pH 05 05 Ih 60 O c\* Id XCO TCJ +-H9 y (du O U *3 uy O 4) h y o Oe Q^ *** * co o n- vo r-- CO cm co o in in vo X) xp on t-- ron o cm m r-i CO ON pH pH vO rH rH * GO Om vo <3 CM CO VO CM <9 0) P C 05 ft y v g pH CLJ co pH S* C9 0 pH o -p sa> o ee CM fCM o VO o C-- pH CM in CM VcOo On pH in CM o in Tp Tj* vo CM CM CM VO CM CM h rH p-j ON f- pH VO VO CM n pH MO in m in n CO On ON ON m in n 4* VO n> vO VO n 9 c -j o pOH on 4J o Oi o -*3> o O CO < rn O O rH CM lA OJ mrr* i-H On h* CO 'w r-- in r-- VO fH rH ,r-tt c^v rr-- min r-* *d< VO tO. p~ n vo O' Tf CM On -H Tf pH "H rn pH n vOJ ON O CO m co U*N CM ON CM cn on CM 5] 02' CO MC TO51 y pH ph C C . SCO O cc -h a, o r-( tf) mcc aa; o-- m CM VO f- on CM o TP CM CM ON CM 00 co CM vo m > n vo s CM VO m vO Ci-M* ir ?* ro m vo > in vo o CO qo CM O ** CM VO T vO O C! co o XJ J0 fin in cc n co m t- CM O OJ c-- lT TJ CM ON CM ro p t- Cm m s On -HN -- w pH X CM X c JC BCD' C. 05 yC- H 3 3cr *> x u tC u a Ccmo 6 Ca c0) ro y D cn (0 3tc C c 4.' TO C y cE T3 c a c0 o y > s o o o cc <0 43 aS o -o -p a> 43 +3 t!oh (0 -3 O H (0 aj - y > o c pC0H *o u a> ou a. E 60 C o >u, y c (0 43 * O an y a 433 pH a pH *0 Ot* c0o qcj U CJ cV H s: y pcH s o *o c C-OJ pH 3 m o C to u c 3 pcH c o PH 43 O 3Ih 43 ro c 0 o c*a ro43 ph c y y ro 3 > y 3 0 T pCH ro x: y y 3 3 0 3 1o) 0) PH o c >s o y pOH pCH CrH (0 <0 a^H o Id o +3 y 3 O fi +- O W CO oO O K S * JCHNS-MANVILLE CORPORATION SCHEDULE IV - INDEBTEDNESS of AFFILIATES - NOT CURRENT for che year ended December 31. 1958 Col*A Name of Affiliate Col. 3 Balance Receivable at Beginning of Period Col. C Balance Receivable at Close of Period The Corporation (Separately)Due from subsidiaries consolidated: Motes receivable: 5 wholly owned companies 3 wholly owned companies $ 78,335,519 539,935,529 Accounts receivable: 11 wnclly owned companies 9 wnolly owned companies 20,140,490 44,706,503 SS4.642.032 Sl06.976.019 P-15 MTC 001651 ft 03 H ft 03 CO C ft 4) ft ft ft ft ft ft 3^- c ro c Mi 3H > O tr o C 0) M CO M CO < ft t. c 33 I aQ ft U 030^3 ad O 03 f0t) o a>h -h*s *d o b O C Z cfl 2 3 O O ft O T3 2 CO t, V C O < a) vrfo--t ooo oo o o c oo o oc c oo<J foot) coo ooo OCrHJTCOiOf- oco mLTV oo o CDD 1 ftVcmOol ou ofot CinJ op r-l o <rWJ 0J or-l O PH o rH t-co voce o H VrCOrO\ o o OJ rH --A cn lA oJ rrr Oo o ooo o<oJ coiru> oo o oc ft) oLTi OJ oo rH oCo o rH ooinooo o (j rH op r> 3 ft) 4 *4 1--1 -4 HH CO rH in rH CVi O o icno CV) rH HI* JOHNS-MANVILLE CORPORATION Cap I t not J CO U &h ft Q "3ft h 1 ECO U TEf5t ft C>fOt Jft t-t s *- O ia r-i C_ b ffi ^(Q (Q0, O l O - C o : cd 3 C 3 1 0 2 H Ot ZC0Ot.Co- E< ia ft Ch 0? n n o 0) ft 03 ft E. 03 ft O fUt ft fyt ft T) 2O O cd 2 fct Os Do TJ zco c c i c O a- 5 Cd b0 *) 0f3t ffttcc 0 rbHOT) mk poo C3 3O < -CH Qo O O CO Oh fftt f0ti fti O cffott rCQHO.fot. 03 rfHt +C) *0 40fJt3 Zo (S- C 3 O C.cO C-ch o| a *o o ft- < cd ooo ooo o o ooo VO rH ooo oco ooo m v0o0 oo oo OinJ * ooo ooo ooo oiCnV) q oc ooo coo ooo oo mo CM rH oo rH OrHJCoO Ovt-- oo o tOm--' oo o <*!! GO i DC-- VO CC o O' VOOJ oo Dm ooo OOinJ oo ooo moo eoo oo m ooo 0 O >> ft 03 CJ H ft U cd c ft 03 cd 3 ft rH W rH cd ft a T3 ftcd ft a cd ft o O c na 3 - cd o -o > rH C 03 no O 03 a< O o 0. ft cd 03 pH ft> cd cd hh ft O 03 rH 03 ft CO 03 03 03 >V ft ft pH ft O ft ft ft ft- ft) ffl W H W O ft> 3 0 GO CO O PH pH PH ------------------ coyaso&oocft 3t3 T3Jhd3'oOo'3Osd'3OOH3ioUt.'o3-oC nW O OOOOOZOSOOOft-S 0f- tfftCtnfCtLL.a,.CfHta.fLtiftfC.tftOCHO ft ft34J co ja o &. * ftftoftoftoftoftfo tfot a a; ft a; 1- Cri CH Cn :h CH CH CH r-i o pH * C rH c c C C ao a* wC0- Xft. *a fftt H > (Q Ori OH O-t ft >ft > ft > CO C-CO C CO Z ft CO ft (Q ft (0 Oh Ort on OH ft>ft>ft>ft> dCdCdCdC ft^ t- ^ ft ^ ft ^ O frtt ft rH O >cw03 eg o r-i >: co rr O -H : j= HHHO o O ft > ft > )"5 *3 >-i ft -- -- *3- T3_ (0 ftcgc4f3tcC o0iift O <0 SOEOSOS C ft *0 i a. i q. i a i a i ai a ai OE 3 a *0 t I odwft nCO wft fto Q, I HHHH {1 Q, O 03 ft 03 ft ft ft C O WHO r o 03 ft CO r cj 03 ft CO o 03 ft03ftOftCOftS OCOCOCOC 0000r Ofot cco aoft. xCcO:.0c3 oftc03dt3HrJEO*CCHfEtw3 o0ft CO 0j 03 uwc 1o-3 1o-3 l~o3 >o-5 o-5 ors o^ o hj oo >-3 * Ocd Ocd CoO O -H o aft (a0 u oo o a> m ft C ft <c ft CO O CO 03 ft o a> ft y cd cd ft c ft S0) fUt f0t) ft ^ *ft O> COS --- 3 03 'D 0) Hft H fOt) Hft fftt ft. O ft (0 -- --OI rWi ^ft TS > 3 > t> "H y h <C0 f3t * CCd > <C0 fot o03 eh i io s: i 03 03 (0 ft ft cd o Ow o JZ o *0 0 MTC 001652 I JOHNS-MANVILLE CORPORATION NOTES to FINANCIAL STATEMENTS, Continued The policy with respect to depletion of mineral properties Is to provide depletion at rates per ton of mineral removed which should extinguish the carrying value of the mineral properties when the estimated minimum recoverable tons of mineral 3hali have been mined except at the mine at Asbestos, iuebec, where the rate established In 1944 has not been re duced although the estimate of minimum recoverable tons is now higher. Maintenance and repairs are charged to Income as incurred. Re newals and betterments In general are capitalized. Generally, when fixed assets are retired or otherwise disposed of, the cost of such assets, less salvage, is charged against the reserve for depreciation unless the retirement arises from abnormal obsolescence in which event the loss is cnarged to income. 9. Guarantees: Under the Retirement Plan of Johns-Manvllle Corporation and its subsidiaries, the Corporation guarantees retirement in come as determined upon retirement of the participant under the provisions of the Plan; the present worth of annuities being paid to retired employees W3S approximately 510,424,000 at December 31, 1958. The Corporation also guarantees that the amount of salary de ductions will be returned to employees (or their bene ficiaries) wno die or whose employment Is terminated for any ocher reason prior to retirement; at December 31, 1958, the balance of contributions made by participants was ap proximately 519,924,000. Johns-Manvllle Corporation guarantees the payment of all con tractual obligations of its wholly owned consolidated sub sidiaries, Incurred in the ordinary course of business. 10. Provisions aggregating 55,501,022 were made during 1958, under the Retirement Plan mentioned in Note 9 and under a similar plan operated by the Corporation's consolidated Canadian sub sidiaries. Regular employees, after 3lx months of service, are eligible to participate. Retirement is at age 65. Re tirement income is provided from trust funds to which both the employees and their respective employers contribute. 11. Dividends include payments in lieu of dividends on shares of stock pledged under the employees' stock purchase plan. 12. Sales of the Corporation (Separately) represent sales to con solidated subsidiary companies. 13. To conform to a stipulation made by the Securities and Exchange Commission, the reserve for contingencies has been classified with capital shares and earnings reinvested. The Corporation believes that this reserve is required in order to reflect, as accurately as possible, contingencies related to the con tinuing instability of price levels and other economic con ditions, and that it is inconsistent therewith to classify it with capital shares and reinvested earnings. I MTC 001653 JOHNS-MANVILLE CORPORATION NOTES to FINANCIAL STATEMENTS, Continued 7. Properties and plants and applicable reserves are composed of the following categories: The Corporation (Separately) Assets Reserves The Corporation and Its Consolidated Subsidiaries Assets Reserves Land $ 24,063 Mineral land Mine development Tlmberland Land Improve- ments 133,203 $ Bulldings 721,836 Machinery and equipment 1 ,314,448 Transportation equipment Furniture and 255,197 fixtures 594,790 Unassigned reserves Construction in progress 203.669 3 2,625,714 9,738,672 3 9,409,507 2,655,446 2,472,563 3,146,063 1,279,468 65,396 280,764 14,581,642 77,239,039 6,364,916 31,784,611 533,715 170,126,869 69,040,569 247,642 2,304,115 1,349,522 407,385 4,207,445 . 2,472,210 34,478 6,104,687 1.306.780 _____63j287 M .247.206 31.569.380 3288.431.785 3130.841.340 8 In general, the companies charge depreciation of fixed assets allowed for tax purposes against Income. For U. 3. companies depreciation Is computed on the straight-line method based on remaining values and estimated useful life except that begin ning In 1954, for U. S. Income tax purposes, but not for accounting purposes, sum-of-the-years-dlglts or decliningbalance methods of depreciation were applied to additions and these methods have been continued. The related tax savings have been offset by an additional charge for depreciation. For Canadian companies the declining-balance method was used. Also, with respect to certain Canadian assets, additional de preciation equal to amounts computed on the straight-line method was allowable for tax purposes and was availed of. The range of annual depreciation rates within each major classi fication of depreciable assets, in terms of percentages, is as follows: The Corporation and The Corporation its Consolidated (Separately)________ Subsidiaries Mine development Land improvements Buildings (including appurtenances) Machinery and equipment Transportation and equipment Furniture and fixtures 4 pet. to 20 pet. 2 pet. to 20 pet. 4-6/11 pet. to 11-6/10 pet. 20 pet. to 33-1/3 pot. 6-2/3 pet. to 20 pet. Continued 30 pet. 4 pet. to 30 pet. 2 pot. to 30 pet. 4-6/11 pet. to 30 pet. 20 pet. to 33-1/3 pet. 6-2/3 pet. to 20 pet. I F-12 MTC 001654 JOHNS-MANVILLE CORPORATION NOTES to FINANCIAL STATEMENTS, Continued During 1953 options to acquire 7,550 L.O.F G.F. shares became exercisable at 314.25 per share, an aggregate amount of $107,588. The average fair market value and the aggregate fair market value on the date these options first became exercisable were 313.50 and 3139,575, respectively. Options were exercised during 1953 or. 5,150 shares at prices ranging from 310.00 to 514.25 per snare, an aggregate amount of 361,851. The average fair market values at dates exercised were 317.28 and 388,993, respectively. Under the terms of the agreement pursuant to which the Corporation acquired the assets of L.O.F G.F. the Corporation delivered to employees of L.O.F G.F. holding options to pur chase Common Shares of L.O.F G.F. substitute options to pur chase shares of the Corporation's Common Stock on terms sub stantially as favorable as the L.O.F G.F. options. Such em ployees held options at December 31, 1953 to purchase an aggregate of 35,031 L.O.F G.F. Common Shares at prices ranging from 311.00 tc 314.25 a share and the market price for L.O.F G.F. Common Shares was then approximately 320.375 a share. On that date the Corporation delivered to sucn em ployees substitute options to purchase, exercisable in 1959, a total of 10,010 shares of its Common Stock at prices rang ing from 327.53 tc 335.94 a share. Options granted in 1955 and 1956 to Libbey-Owens-Ford Glass Company to purchase 64,000 shares of L.O.F G.F. Common Shares at prices ranging from $12 to 315 per share, an aggregate amount of 3936,250, were exercised in 1958. The average fair market value per share and aggregate fair market value at the dates the options were granted and -at the date the options were exercised were 321.25, 31,360,125, 319.94 and 31,276,160, respectively. At the end of 1953 options were outstanding for 43,480 shares at 337.75 per share, 16,800 shares at $41,875 per share, and 10,010 shares at prices ranging from 327.32 to 335.94 per 3hare, an aggregate amount of 32,730,TT4. No charges to Income are made in connection with options granted or exercised. Continued F-ll MTC 001655 JOHNS-MANVILLE CORPORATION NOTES to FINANCIAL STATEMENTS, Continued It is not practicable to determine what portion of the aggre gate amounts receivable from and payable to subsidiaries 3hould be in the current position; therefore, no portion of these items has been so included. 288,060 shares are reserved in connection with the employees' stock purchase plan. This plan, approved in 1956, permits eligible employees to purchase a limited number of shares of the Corporation's common stock at market price prevail ing at time of purchase, to be paid for within ten years. Shares are issued and held by a trustee as security for un paid amounts. A similar plan, approved in 1945, expired July 30, 1958. At December 31, 1958 the trustee held 145,038 shares issued under both plans. 212,380 shares are reserved in connection with the incentive stock option plan. Thl3 plan, approved by stockholders in 1954, permits key employees. Including officers and directors who are full-time employees of the Corporation or its sub sidiaries, to purchase shares at the fair market value thereof on the date the option is granted. Options may be exercised only after two years of continuous employment by the Corporation or its subsidiaries after the date of the grant of the option. Options were granted in 1954 on 92,300 3hares of stock at 537.75 per share of which 11,200 have been cancelled, leav ing 81,100 shares under option at 537.75 per share, or an aggregate amount of $3,Ccl,525, all of which became exer cisable in 1956, Additional options were granted in 1955 on 18,800 shares at $41,375 per share, or an aggregate amount of $737,250, all of which became exercisable in 1957. Of the options granted in 1954, options were exercised in 1953 for 10,900 shares at $37.75 per share, an aggregate amount of $411,475. The average fair market value per share and aggregate fair market value at dates exercised were $47.73 and $520,350, respectively. Options to purchase L.O.F G.F. Common Shares were granted by the Board of Directors from time to time to selected officers and employees at prices ranging from $10.00 to $14.25 per share, which were not less than 95$ of the market price of the common stock at the date the options were granted. Each option was exercisable at any time after two years from its date provided the holder is then an employee of the Company and in any event must be exercised before five years from its date. No options were granted during 1958. Continued F-10 MTC 001656 JOHNS-MANVILLE CORPORATION NOTES to FINANCIAL STATEMENTS On December 31, 1953, under a Plan and Agreement dated November 10, 19;3, the DU5lnes3 of Jonns-Manviile Corporation ana that of L.O.F Glass Fibers Company were ooir.oineo as a pooling of interests. Under the agreement there were dis tributed to the stockholders of L.O.F Glass Fibers Company or.e share of Johns-Manville Corporation stock (an aggregate of 1,094,737 shares) for each 2f shares of L.O.F Glass Fibers stock held by them. In connection with this trans action the net assets of L.O.F Glass Fibers Company were transferred to Johns-Manvllle Fiber Glass Inc., a xnolly owned subsidiary of Johr.s-Manviile Corporation. The consolidated statements include the accounts of all sub sidiaries in whicn the Corporation owns, directly or in directly, securities representing more than 50 per cent of the voting power except the accounts of subsidiaries opera ting in foreign countries, other than Canada. The suosidiarles included are the same as in 1957, except for the addi tion of two newly formed subsidiaries, Johns-Manvllle Products Corporation of Mississippi and Johns-Manvllle Fiber Glass Inc. The difference between the investment ir. consollaated subsidi aries (322,142,384) and the Corporation's equity in the net assets of such subsidiaries as shown by their books (3143,761,795), amounting to 3121,619,411, less consolidat ing adjustments of 312,616,194, principally provisions for intercompany profit in inventory and tax on undistributed earnings of Canadian subsidiaries, is credited in consolida tion to earnings reinvested and represents undistributed net earnings of subsidiaries accumulated since the aco.uisltion or formation of such subsidiaries. With respect to tr.e Corporation's consolidated Canadian sub sidiaries, assets, liabilities and net income for the year have been translated at par. Inventories other than contracts in progress are .valued in ac cordance with the last-ln, first-out inventory principle ex cept inventories totalling 35,130,179, which are valued at lower of average cost or market. Inventories of contracts in progress represent labor and other installation costs. Inventories, based on the lower of cost or market, were as follows: The Corporation (Separately) The Corporation and its Consolidated Subsidiaries Beginning of year End of year 3206,302 139,442 339,480,886 39,302,237 Continued MTC 001657 JOHNS-MANYILLS CORPORATION STATEMENTS of EARNINGS REINVESTED for the year ended December 31, 195 Balance at beginning of year Net Income for year, a3 per accompanying statement Deduct, Cash dividends, 32.00 per share (including payments In lieu of dividends on shares of stock pledged under employees ' stock . purchase plan) Balance at close of year The Corporati (Separately $ 7,3-9,50- 10.266.20 -T, 555,7c The accompanying notes are an 1: pare of the financial stateme: P-8 MTC 001658 JOHNS-MANVILLH CORPORATION STATEMENTS of INCOME for the year ended December 31, 1958 The Corporation (fecaratelvi The Corporation and its Consolidated Sutsidi;iries S, returns and allow ances (Note 12) Cost of sales (Notes 4 and 12) -3194,740,345 183.079.F80 3331,742,726 272.431.324 Cross profit Selling, general and administrative expenses 3 S,6SG,cC6 Research, patent and development expenses 00.224 11,669,965 055,715,612 3.730.030 5.504.287 99,260,9C2 5l.71b.3sa Operating profit Other income: Dividends from subsidiaries (Schedule XVII): Consolidated 13,231,328 Unconsolidated, less foreign taxes withhel.'d 224,0C0 Interest income: From subsidiaries Consolidated 1,433,674 Unconsolidated Marketable securities Other Equity in undistri 242, 313,729 buted earnings of L.O.F euass Fibers Company (Note 1) 1,432,146 Miscellaneous, net, Includes 0101,349) Interest expense 1.121.416 Income before provisioni for inccn ie taxes Provision for income taxes: U. S. income tax Canadian Income tax 5,613100 2,339,935 317,226 167,486 321,354 213,039 2F.009.766 1,263.133 25,399,301 10,900,000 5.617.100 5.950.0C0 37,941,003 2,232.375 40,223,841 Io.S50.000 Net Income S 20.286.201 $ 27.777".841 The accompanying notes are an Integral part of the financial statements. For supplementary data as to certain charges see Schedule XVI. MTC 001659 i i I I JOHNS-MANVi: BALANCE SHEETS ASSETS: The Corporation (Separately) The Corporation and its Consolidated Subsidiaries Demand deposits in banks and cash on hand Marketable securities, at cost (approximately market; Accounts receivable, trade Accounts and notes receivable, miscellaneous 4 Less, Reserves for doubtful accounts receivable and cash discounts (Schedule XII) _ Inventories, at the lower of cost or market (Note 4): Finished goods and goods in process Raw materials Supplies Contracts in progress, less 32,274,266 advance billing __ Total current assets (Note 5) 4 11,921,089 4 24,438,323 18,951,276 4 46,315,221 22,940,525 541,074 341,074 1.167.499 47,482,720 341,074 785,207 46,697,513 38.663 37,857 12,922 139.442 31,352,881 21,899,393 12,749,374 4,057,964 _521l50S 39,302,237 133,378,598 Investments ir and notes and accounts receivable from subsidiaries (Notes 2 and 5): Subsidiaries consolidated: Investments at ccst (Schedule III) 22,142,384 Notes receivable (Schedule IV) Accounts receivable 78,835,529 (Schedule IV) 28.140,490 Subsidiaries not con solidated: Investments at cost or less (Schedule III) Accounts receivable _ 56,435 104.964 Accounts receivable, employees' stock purchase plan (Note 6) Miscellaneous investments, at cost or less (market quota tions not available) (Schedule V) Less, Reserve for depre ciation of employee housing facilities (Schedule VI) Properties and plants, at cost- (Note 7 and Schedule vj Les3, Reserves for depre ciation and depletion (Notes 7 and 8 and Schedule VI) _ Prepaid and deferred charges 3,178,515 500 3,247,206 1,569.380 F-o 129,118,403 161,399 4,609,445 251,805 251,805 4,609,445 4,900,603 3,178,015 1,226,007 288,431,785 3,674,596 1,677,826 509,481 130.841.340 157,590,445 2.746,436 9302,251,325 The accompanying notes are an integ MTC 001660 LE CORPORATION December 31, 1958 LIABILITIES: Accounts payable and accrued liabilities: Trade accounts Payroll deductions U. S. and Canadian taxes on Income Other taxes Compensation and wages Miscellaneous Total current liabilities (Note 5) The Corporation (Separately) The Corporation and Its Consolidated Subsidiaries 3 536,732 873,963 5,523,109 102,427 1,694,953 651.034 9,382,218 3 8,163,534 1,831,245 22,703,262 4,148,339 10,845,030 4.401,028 52,097,438 Accounts payable to subsidiaries (Note 5 and Schedule X): Subsidiaries consolidated Subsidiaries not consolidated 3 23,197,486 ________ 61,799 23,259,285 69,297 69,297 Notes payable. Interest at 2.7 per cent, principal payable 3250,000 annually to July 15, 1966, balance payable July 15, 1967, exclusive of amount due within one year 3,000,000 3,000,000 Reserves for guarantees, etc. (Schedule XII) 727,290 1,643,942 Commitments (Note 9) CAPITAL SHARES, EARNINGS REINVESTED and EARNINGS APPROPRIATED for CONTINGENCIES: Common stock, par value 35 per share, authorized 25,000,000 shares. Issued and outstanding 8,283,192 shares (Note 6 and Schedule XIII) Earnings reinvested (Note 2) Earnings appropriated for contingencies (no change during 1958) (Note 13) 115,464,864 115,464,864 13.310.657 128,775,521 122.313.874 237,778,738 5,463,136 7,661,910 "al part of the financial statements. 3170,607,450 P-6 3302.251.325 MTC 001661 ns=3EuaS8J JOHNS-MANVi; BAUNCE SHEETS ASSETS: The Corporation (Separately) The Corporation and Its Consolidate! Subsidiaries Demand deposits In banks and ca3h on hard Marketable securities, at cost (approximately market) Accounts receivable, trade Accounts and notes receivable, miscellaneous i Less, Reserves for doubtful accounts receivable and cash discounts (Schedule XII) _ Inventories, at the lower of cost or market (Note 4): Finished goods and goods lr. process Raw materials Supplies Contracts In progress, less $2,274,266 advance billing _ Total current assets (Note 5) 8 11,921,089 $ 24,438,323 13,951,276 8 46,315,221 22,940,525 741.074 341.074 ____ 1 47,482,720 341,074 785,207 46,697,513 88,063 37,357 12,922 139,442 31,352,881 21,399,393 12,749,374 4,057,964 595,506 79,702,237 133,378,598 Investments lr and notes ar-d accounts receivable from subsidiaries (Notes 2 and 5): Subsidiaries consolidated: Investments at cost (Schedule III) 22,142,384 Notes receivable (Schedule IV) Accounts receivable 76,835,529 (Schedule IV) Subsidiaries net con 28,140,490 solidated: Investments at cost or less (Schedule III) 56,435 Accounts receivable ______ 104964 129,118,403 161,399 Accounts receivable, employees' stock purchase plan (Note 6) Miscellaneous investments, at cost or less (market quota tions not available) (Schedule V) Less, Reserve for depre ciation of employee housing facilities (Schedule VI) Properties ar.d plants, at cost (Note 7 and Schedule v) Less, Reserves for depre ciation and depletion (Notes 7 and 8 and Schedule VI) Prepaid and deferred charges 3,178,515 500 3,247,206 1,569,380 4,609,445 3,178,015 1,677,826 509,481 $170.607.450 251,805 _______________ 251,805 4,609,445 4,900,603 1,226,007 288,431,785 3,674,596 .130,841,340 157,590,445 2,746,436 The accompanying notes are an In teg F-6 r~ MTC 001662 OPINION of INDEPENDENT CHARTERED ACCOUNTANTS The Board of Directors, Johns-Manville Corporation New York, N. Y. We have examined the Balance Sheet of Canadian Johns- Manville Asbestos Limited as of December 31* 1958 and the related Statements of Income and Earnings Reinvested for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, based upon our examination, the aforementioned Balance Sheet and Statements, together with Schedules IV, XII and XVI, present fairly the financial position of Canadian Johns-Manville Asbestos Limited as of December 31, 1958, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a consistent basis. SHARP, MILNE & CO. Chartered Accountants Montreal, January 26, 1959- P-5 mtc 01663 OPINION of INDEPENDENT CHARTERED ACCOUNTANTS The Board of Directors, Johns-Manville Corporation New York, N. Y. We have examined the Balance Sheet of Canadian Johns- Manville Company, Limited, and its Consolidated Subsidiary Companies as of December 31, 1958, and the related Statements of Income and Earnings Reinvested for the year 1958. Our examina tion was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, based upon our examination, the afore- mentioned Balance Sheet and Statements, together with Schedules III, IV, V, VI, XII and XVI, present fairly the financial posi tion of Canadian Johns-Manville Company, Limited, and its Consolidated Subsidiary Companies as of December 31, 1958, and the results of their operations for the year then ended. In conformity with generally accepted accounting principles applied on a consistent basis. SHARP, MILNE & CO. Chartered Accountants Montreal, January 26, 1959 P-4 MTC 001664 CERTIFICATE OF INDEPENDENT PUBLIC ACCOUNTANTS The Board of Directors L.O.F Glass Fibers Company: We have examined the accompanying balance sheet of L.O.F Glass Fibers Company at December 31, 1958 (prior to sale of net assets to Johns-Manville Fiber Glass Inc.) and the related state ments of income and surplus for the year then ended, together with the supporting schedules, included in the annual report (Form 10-K) of L.O.F Glass Fibers Company to the Securities and Exchange Com mission for the year ended December 31, 1958. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum stances. In our opinion, the statements mentioned above present fairly the financial position of L.O.F Glass Fibers Company at December 31, 1958 (prior to sale of net assets to Johns-Manville Fiber Glass Inc.) and the results of its operations for the year then ended, in conformity with generally accepted accounting prin ciples applied on a basis consistent with that of the preceding year and, in our opinion, the supporting schedules present fairly the information required to be stated therein. Toledo, Ohio January 24, 1959 F-3 MTC 001665 OPINION of INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS To the Stockholders and Board of Directors of Johns-Manville Corporation, New York, N. Y. We have examined the balance sheet of JOHNS-MANVILLE CORPORATION and the consolidated balance sheet of Johns-Manville Corporation and its Consolidated Subsidiaries as of December 31, 1958, the related statements of income and earnings reinvested for the year 1958, and the supporting schedules. We were fur nished with financial statements of L.O.F Glass Fibers Company (see Note 1, page F-9) and of the Canadian subsidiaries for the year 1958 together with the respective opinions thereon of other public accountants and_of chartered accountants. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, based upon our examination and upon the opinions of other accountants, the accompanying statements and schedules (pages F-6 to F-22) present fairly the financial posi tion at December 31, 1958, and the results of operations for the year then ended, of the parent corporation and the affiliated group, respectively. In conformity with generally accepted accounting principles applied on a~ basis consistent with that of the preceding year. LYBRAND, ROSS BROS. & MONTGOMERY New York, January 26, 1959 F-2 MTC 001666 JOHNS-MANVILLE CORPORATION INDEX of REPORTS of INDEPENDENT AUDITORS and FINANCIAL STATEMENTS and SCHEDULES for the year ended December 31, 1958 Opinion of Lybrand, Ross Bros. & Montgomery Opinion of Arthur Young & Company Opinions of Sharp, Milne & Co. Balance sheets Statements of income Statements of earnings reinvested Notes to financial statements Schedules: III Investments in securities of affiliates 17 Indebtedness of affiliates not current V Property, plant and equipment VI Reserves for depreciation and depletion of property, plant and equipment X Indebtedness to affiliates not current XII Reserves XIII Capital shares XVI Supplementary profit and loss information XVII Income from dividends - equity in net profit and loss of affiliates The Corporation The and its Corporation Consolidated (Separately) Subsidiaries F-2 - - F-6 P-7 F-8 F-9 - F-13 F-2 F-3 F-4 _ F-5 F-6 P-7 F-8 F-9 - F-13 F-14 F-15 - F-18 F-19 F-20 F-21 F-22 F-16 F-17 _ F-19 F-20 F-21 Schedules other than those listed above have been omitted since they are either not required or are not applicable. Financial statements are not furnished for the uncon solidated subsidiaries for the reason that such subsidiaries, in the aggregate, do not constitute a significant subsidiary. F-l MTC 001667