United States Rubber Company and Subsidiary Companies
Liabilities
December 31
1963 1962
Current Liabilities
Accounts payable . . . . . . . . . . . . . . . . $ 66,997,403 $ 55,670,807
Foreign bank loans . . . . . . . . . . . . . . . 19,674,268 17,992,000
Current maturities of long term debt . . . . . . . 4,762,753 2,332,000
Accrued Federal income taxes . . . . . . . . . . . 11,920,634 12,536,580
Other accrued taxes, including foreign income taxes . 17,882,045 18,439,779
Other accrued liabilities . . . . . . . . . . . . . . 34,534,979 34,620,781
TOTAL CURRENT LIABILITIES . . . . . . . . . . 155,772,082 141,591,947
Long Term Debt
2½ % debentures due April 1, 1967 . . . . . . . . 8,000,000 10,500,000
2½ % debentures due May 1, 1976 . . . . . . . . . 21,436,000 24,215,000
3¾ % promissory notes due January 1, 1982 . . . . 50,000,000 50,000,000
3¾ % promissory notes due July 15, 1995 . . . . . 60,000,000 60,000,000
Foreign and domestic subsidiaries . . . . . . . . . 17,839,953 6,215,199
TOTAL LONG TERM DEBT . . . . . . . . . . . 157,275,953 150,930,199
Deferred Federal Income Taxes and Investment Credit . . . 10,207,482 4,174,528
Reserves
Foreign activities . . . . . . . . . . . . . . . . . 15,608,187 17,838,255
Retirement allowances . . . . . . . . . . . . . . 9,172,186 9,908,175
Insurance . . . . . . . . . . . . . . . . . . . . . 3,723,858 3,800,199
TOTAL RESERVES . . . . . . . . . . . . . . . 28,504,231 31,546,629
Minority Interests in Subsidiaries . . . . . . . . . . . . 11,718,766 11,506,355
Stockholders’ Equity
8% non-cumulative preferred stock, $100 par value:
Authorized and issued — 651,091 shares . . . . 65,109,100 65,109,100
Common stock, $5 par value:
Authorized — 10,000,000 shares
Issued — 5,900,844 shares 1963; 5,899,104 shares 1962 . 29,504,220 29,495,520
Capital surplus . . . . . . . . . . . . . . . . . . 30,358,441 30,272,800
Retained earnings . . . . . . . . . . . . . . . . . 230,930,670 226,816,682
355,902,431 351,694,102
Less: Treasury stock at cost
Preferred stock held for retirement — 9,000 shares 1,413,071 1,413,071
Common stock — 51,591 shares 1963;
62,000 shares 1962 . . . . . . . . . . . . . . . 2,368,705 2,846,614
3,781,776 4,259,685
TOTAL STOCKHOLDERS’ EQUITY . . . . . . . . 352,120,655 347,434,417
TOTAL . . . . . . . . . . . . . . . . . . . . . $715,599,169 $687,184,075
See Financial Notes on pages 19 and 20.