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