Inside the Investments of Warren Buffett by Yefei Lu

Author:Yefei Lu
Language: eng
Format: epub
Tags: BUS036000, Business & Economics/Investments & Securities/General, BUS071000, Business & Economics/Leadership
Publisher: Columbia University Press
Published: 2016-08-01T16:00:00+00:00

Table 14.9.

Financial summary (1977–1987)

($ in millions except per share data)

Source: The Coca-Cola Company, 1987 Annual Report, 34–35.

Table 14.10.

Consolidated balance sheet (1986–1987)

($ in thousands)

Year ended Dec. 31

Assets 1987 1986

Current assets

Cash 1,017,624 606,848

Marketable securities, at cost (approximate market) 450,640 261,785

Trade accounts receivable, less allowances of $13,429 and $11,657 672,160 672,568

Inventories 776,740 695,437

Prepaid expenses and other assets 674,148 932,630

Notes receivable—Columbia Pictures Entertainment, Inc. 544,889 —

Total current assets 4,136,201 3,169,268

Investments and other assets

Investments in affiliates — —

Columbia Pictures Entertainment, Inc. 989,409 1,436,707

Coca-Cola Enterprises Inc. 749,159 709,287

T.C.C. Beverages Ltd. 84,493 87,696

Other 435,484 212,194

Receivables and other assets 289,000 217,046

Total investments and other assets 2,547,545 2,662,930

Property, plant, and equipment

Land 112,741 98,842

Buildings and improvements 763,317 695,029

Machinery and equipment 1,488,464 1,390,689

Containers 275,120 287,672

Total 2,639,642 2,472,232

Less allowances for depreciation 1,041,983 934,679

Total property, plant, and equipment 1,597,659 1,537,553

Goodwill and other intangible assets 74,155 114,377

TOTAL ASSETS 8,355,560 7,484,128

Liabilities and shareholders’ equity

Current liabilities

Accounts payable and accrued expenses 1,430,193 1,198,407

Loans and notes payable 1,685,408 697,743

Current maturities of long-term debt 213,609 4,628

Dividends payable in-kind 335,017 —

Accrued taxes, including income taxes 454,313 344,141

Total current liabilities 4,118,540 2,244,919

Long-term debt 803,352 907,676

Deferred income taxes 209,880 239,813

Due to Columbia Pictures Entertainment, Inc. — 576,741

Total liabilities 5,131,772 3,969,149

Shareholders’ equity

Preferred stock, $1 par value—authorized: 100,000,000 shares; no shares issued and outstanding — —

Common stock, $1 par value—authorized: 700,000,000 shares; issued: 415,977,479 shares in 1987 and 414,491,987 shares in 1986 415,977 414,492

Capital surplus 338,594 299,345

Reinvested earnings 3,783,625 3,624,046

Foreign currency translation adjustment −5,047 −118,087

Total 4,533,149 4,219,796

Less treasury stock, at cost (43,621,336 shares in 1987; 29,481,220 shares in 1986) 1,309,261 704,817

Total shareholders’ equity 3,223,888 3,514,979

Source: The Coca-Cola Company, 1987 Annual Report, 36–37.

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