Budweiser Sample Balance Sheet

Balance Sheet Common Size Year-to-Year
Year Ended Dec. 31 (millions) 2002 2001 2000 1999 1998 1997 1996 2002 2001 2000 1999 1998 1997 1996 2002 2001 2000 1999 1998 1997
Assets
Current Assets:
Cash         188.9         162.6        159.9      152.1      224.8      147.3        93.6 1.3% 1.2% 1.2% 1.2% 1.8% 1.3% 0.9% 16.2% 1.7% 5.1% -32.3% 52.6% 57.4%
Accounts and notes receivable         630.4         620.9        600.4      629.0      610.1      713.4      632.7 4.5% 4.5% 4.6% 5.0% 4.9% 6.1% 6.0% 1.5% 3.4% -4.5% 3.1% -14.5% 12.8%
Inventories
Raw materials and supplies         294.1         352.4        347.3      378.2      362.9      328.7      319.5 2.1% 2.5% 2.7% 3.0% 2.9% 2.8% 3.1% -16.5% 1.5% -8.2% 4.2% 10.4% 2.9%
Work in process           82.8          79.8          82.9        84.7        90.7        87.8        80.6 0.6% 0.6% 0.6% 0.7% 0.7% 0.7% 0.8% 3.8% -3.7% -2.1% -6.6% 3.3% 8.9%
Finished goods         186.7         159.6        178.1      160.9      169.8      133.7      131.0 1.3% 1.1% 1.4% 1.3% 1.4% 1.1% 1.3% 17.0% -10.4% 10.7% -5.2% 27.0% 2.1%
Total inventories         563.6         591.8        608.3      623.8      623.4      550.2      531.1 4.0% 4.2% 4.7% 4.9% 5.0% 4.7% 5.1% -4.8% -2.7% -2.5% 0.1% 13.3% 3.6%
Other current assets         121.8         175.1        179.3      195.7      182.1      173.0      208.4 0.9% 1.3% 1.4% 1.5% 1.5% 1.5% 2.0% -30.4% -2.3% -8.4% 7.5% 5.3% -17.0%
Total current assets       1,504.7      1,550.4     1,547.9    1,600.6    1,640.4    1,583.9    1,465.8 10.7% 11.1% 11.8% 12.7% 13.1% 13.5% 14.0% -2.9% 0.2% -3.3% -2.4% 3.6% 8.1%
Investments in affiliated companies       2,827.9      2,855.0     2,207.4    2,012.5    1,880.6    1,296.8      741.2 20.0% 20.5% 16.9% 15.9% 15.1% 11.1% 7.1% -0.9% 29.3% 9.7% 7.0% 45.0% 75.0%
Other assets       1,423.0      1,149.5     1,073.6    1,062.7    1,114.3    1,095.8    1,048.4 10.1% 8.2% 8.2% 8.4% 8.9% 9.3% 10.0% 23.8% 7.1% 1.0% -4.6% 1.7% 4.5%
Plant and Equipment, net       8,363.9      8,390.0     8,243.8    7,964.6    7,849.0    7,750.6    7,208.2 59.2% 60.2% 63.1% 63.0% 62.9% 66.1% 68.9% -0.3% 1.8% 3.5% 1.5% 1.3% 7.5%
Total Assets     14,119.5    13,944.9    13,072.7  12,640.4  12,484.3  11,727.1  10,463.6 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 1.3% 6.7% 3.4% 1.3% 6.5% 12.1%
Liabilities and Owners' Equity
Current Liabilities
Accounts Payable         986.6         945.0        940.8      932.6      905.7      791.8      726.8 7.0% 6.8% 7.2% 7.4% 7.3% 6.8% 6.9% 4.4% 0.4% 0.9% 3.0% 14.4% 8.9%
Accrued salaries, wages, benefits         287.5         255.8        276.4      263.0      256.3      224.3      227.6 2.0% 1.8% 2.1% 2.1% 2.1% 1.9% 2.2% 12.4% -7.5% 5.1% 2.6% 14.3% -1.4%
Accrued taxes         181.0         161.1        127.4      164.2      193.6      183.9      233.0 1.3% 1.2% 1.0% 1.3% 1.6% 1.6% 2.2% 12.4% 26.5% -22.4% -15.2% 5.3% -21.1%
Other current liabilities         332.6         374.7        331.1      627.4      374.7      300.7      243.5 2.4% 2.7% 2.5% 5.0% 3.0% 2.6% 2.3% -11.2% 13.2% -47.2% 67.4% 24.6% 23.5%
Total current liabilities       1,787.7      1,736.6     1,675.7    1,987.2    1,730.3    1,500.7    1,430.9 12.7% 12.5% 12.8% 15.7% 13.9% 12.8% 13.7% 2.9% 3.6% -15.7% 14.8% 15.3% 4.9%
Postretirement benefits         474.2         482.9        492.7      506.4      515.8      525.4      524.6 3.4% 3.5% 3.8% 4.0% 4.1% 4.5% 5.0% -1.8% -2.0% -2.7% -1.8% -1.8% 0.2%
Debt       6,603.2      5,983.9     5,362.7    4,880.6    4,718.6    4,365.6    3,270.9 46.8% 42.9% 41.0% 38.6% 37.8% 37.2% 31.3% 10.3% 11.6% 9.9% 3.4% 8.1% 33.5%
Deferred income tax       1,345.1      1,367.2     1,372.9    1,344.7    1,303.6    1,293.6    1,208.1 9.5% 9.8% 10.5% 10.6% 10.4% 11.0% 11.5% -1.6% -0.4% 2.1% 3.2% 0.8% 7.1%
Other long-term liabilties         857.0         312.8          39.8           -             -             -             -   6.1% 2.2% 0.3% 0.0% 0.0% 0.0% 0.0% 174.0% 685.9% #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Total Liabilities     11,067.2      9,883.4     8,943.8    8,718.9    8,268.3    7,685.3    6,434.5 78.4% 70.9% 68.4% 69.0% 66.2% 65.5% 61.5% 12.0% 10.5% 2.6% 5.4% 7.6% 19.4%
Shareholders' equity
Common stock       1,453.4      1,445.2     1,441.5      716.1      712.7      709.3      705.8 10.3% 10.4% 11.0% 5.7% 5.7% 6.0% 6.7% 0.6% 0.3% 101.3% 0.5% 0.5% 0.5%
Capital in excess of par       1,024.5         810.2        725.3    1,241.0    1,117.5    1,017.0      929.2 7.3% 5.8% 5.5% 9.8% 9.0% 8.7% 8.9% 26.5% 11.7% -41.6% 11.1% 9.9% 9.4%
Retained earnings     12,544.0    11,258.2    10,164.4    9,181.2    8,320.7    7,604.9    6,924.5 88.8% 80.7% 77.8% 72.6% 66.6% 64.8% 66.2% 11.4% 10.8% 10.7% 10.3% 9.4% 9.8%
Treasury stock, at cost    (11,008.6)     (8,981.6)    (7,817.8)   (6,831.3)   (5,482.1)   (4,793.3)   (4,206.2) -78.0% -64.4% -59.8% -54.0% -43.9% -40.9% -40.2% 22.6% 14.9% 14.4% 24.6% 14.4% 14.0%
Accumulated other com income        (870.7)        (338.3)       (212.3)     (175.0)     (205.6)     (214.0)         (8.8) -6.2% -2.4% -1.6% -1.4% -1.6% -1.8% -0.1% 157.4% 59.3% 21.3% -14.9% -3.9% 2331.8%
ESOP debt guarantee          (90.3)        (132.2)       (172.2)     (210.5)     (247.2)     (282.1)     (315.4) -0.6% -0.9% -1.3% -1.7% -2.0% -2.4% -3.0% -31.7% -23.2% -18.2% -14.8% -12.4% -10.6%
Total shareholders' equity       3,052.3      4,061.5     4,128.9    3,921.5    4,216.0    4,041.8    4,029.1 21.6% 29.1% 31.6% 31.0% 33.8% 34.5% 38.5% -24.8% -1.6% 5.3% -7.0% 4.3% 0.3%
Commitments and contingencies
Total Liabilities and Owners' Equity     14,119.5    13,944.9    13,072.7  12,640.4  12,484.3  11,727.1  10,463.6 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 1.3% 6.7% 3.4% 1.3% 6.5% 12.1%