United States Rubber Company and Subsidiary Companies
Consolidated Income and Retained Earnings
1963 1962
Net sales $980,229,858 $1,006,792,650
Other income, net 3,104,402 3,678,822
Total Revenue 983,334,260 1,010,471,472
Cost of goods sold 771,803,722 803,532,053
Selling, administrative and general expenses 157,215,827 149,069,079
Total costs and expenses (including depreciation
of $27,216,802 in 1963 and $27,657,250 in 1962)
929,019,549 952,601,132
54,314,711 57,870,340
Interest on long term debt 5,337,805 5,310,465
Profit Before Income Taxes and Other Charges 48,976,906 52,559,875
Federal and foreign income taxes, less $2,395,000 in 1962
representing taxes paid on depreciation charged to prior years’
operations but not deducted for tax purposes in those years
(see note on page 19) 24,274,394 22,618,743
Restricted foreign earnings and minority interests
1,425,979 1,955,018
Foreign exchange losses 1,171,947 2,291,714
26,872,320 26,865,475
Net Income 22,104,586 25,694,400
Retained Earnings at beginning of year 226,816,682 219,182,691
248,921,268 244,877,091
Cash dividends – Preferred stock $8.00 a share 5,136,728 5,150,728
– Common stock $2.20 a share 12,853,870 12,909,681
17,990,598 18,060,409
Retained Earnings at end of year $230,930,670 $ 226,816,682
See Financial Notes on pages 19 and 20.
18