Principles of Corporate Finance_ 12th Edition

Chapter 28 Financial Analysis 749

bre44380_ch28_732-758.indd 749 10/06/15 09:49 AM

Food

Beverage &

Tobacco

Clothing

Paper

Chemicals

Drugs

Machinery

Computers & Electronics

Electrical

Autos

Retail

Telecom.

Professional & Technical

Services

Assets:

Cash and securities

4.0

3.1

6.0

3.2

4.8

5.8

6.5

6.4

4.2

10.9

6.5

4.3

11.6

Receivables

8.1

3.2

11.2

10.3

6.7

5.3

10.3

4.5

6.8

8.9

4.7

4.7

11.7

Inventories

10.4

4.9

18.4

9.9

5.9

4.6

12.2

1.9

8.4

8.4

20.8

0.5

1.4

Other current assets

4.7

3.6

5.1

4.0

5.4

5.1

5.6

6.0

4.3

6.1

3.4

2.1

8.5

Total current assets

27.3

14.9

40.7

27.3

22.8

20.8

34.6

18.9

23.7

34.3

35.3

11.6

33.2

Fixed assets

37.8

21.4

28.8

82.4

27.3

15.1

28.0

12.1

19.7

33.3

63.3

78.1

15.6

Depreciation

20.7

10.4

18.1

47.9

14.7

8.1

16.7

6.9

11.4

17.7

28.6

44.7

9.1

Net fixed assets

17.1

11.0

10.7

34.5

12.6

7.1

11.2

5.2

8.2

15.6

34.7

33.4

6.5

Other long-term assets

55.6

74.1

48.6

38.2

64.6

72.2

54.2

75.9

68.1

50.1

30.0

55.0

60.3

Total assets

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Liabilities and Shareholders’ Equity:^

Short-term debt

4.7

7.5

2.4

3.8

5.3

4.5

3.2

2.1

3.5

2.5

3.6

2.3

3.4

Payables

6.7

2.2

6.5

7.9

4.7

3.4

6.6

4.9

6.2

13.1

14.0

4.6

7.9

Other current liabilities

5.3

5.5

7.7

6.6

8.8

9.1

13.1

9.6

10.6

13.6

10.3

5.4

15.2

Total current liabilities

16.7

15.3

16.7

18.3

18.8

17.0

22.9

16.6

20.3

29.1

27.9

12.3

26.6

Long-term debt

26.7

30.2

19.5

31.5

27.7

28.0

18.4

16.5

13.0

14.5

23.3

38.6

23.2

Other long-term liabilities

12.7

14.2

12.6

15.3

11.7

11.6

15.3

13.3

10.2

22.6

9.2

25.8

11.6

Total liabilities

56.1

59.7

48.8

65.0

58.2

56.6

56.6

46.3

43.5

66.3

60.4

76.8

61.4

Shareholders’ equity

43.9

40.3

51.2

35.0

41.8

43.4

43.4

53.7

56.5

33.7

39.6

23.2

38.6

Total liabilities and equity

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

TABLE 28.6❱

Aggregate common-size balance sheets for U.S. companies, June 2014. Entries are expressed as a percentage of total assets.

Note:

Some columns do not add up because of rounding.

Source:

U.S. Department of Commerce, “Quarterly Financial Report for Manufacturing, Mining and Trade Corporations,” September 2014.