Document gaD0jE6wvKmy8b3R8rJ4QqMG9

Ten Year Review In 1961 there was a special item ol income Irom an excess profits tax re fund for the years 1950-7953 amount ing to S995.000. The year 1963 includes the opera tions of The S. K. Wellman Company acquired in that year in a transaction which for accounting purposes was treated as a pooling of interests. In 1965 there was a special item ol loss amounting to $644,012 aiter re lated taxes on income resulting Irom the sale of forging facilities. EARNIN6S 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 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.............. Dividends per share Preferred................................................. Common ............................................... 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......................................... Preferred stock................................................... 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 .. 1965 260,168 21,704 8.3 14.9 11,104 4.3 9.8 6.02 5,272 47.5 13,624 83,725 11,910 95,635 14.2 19,158 10,736 2.85 22,152 34,468 43,161 99,781 25,830 73,951 63,642 10,288 147,881 32,912 114,969 147,881 62.36 1,844 17,120 3.9 11,364 10,533 page thirty