ADVANCE DATA FROM THE QUARTERLY FINANCIAL REPORT FOR MANUFACTURING, MINING, AND TRADE CORPORATIONS--FOURTH QUARTER 1995 (Except where noted, all figures in text and tables are not seasonally adjusted.) Sales and after-tax profits for all manufacturing are presented in Table 1 on both a seasonally adjusted and an unadjusted basis. Seasonally adjusted historical data for this series, as well as for total durable and total nondurable manufacturing, are presented in Table 3. Data for individual manufacturing industries are not seasonally adjusted. Manufacturing corporations' seasonally adjusted after-tax profits averaged 5.1 cents per dollar of sales for the fourth quarter of 1995, down 0.7 (+/-0.21) cents from the third quarter of 1995. The Commerce Department's Bureau of the Census also reported that on an unadjusted basis, after-tax profits for the fourth quarter averaged 4.5 cents per dollar of sales, down 1.3 (+/-0.21) cents from the preceding quarter and down 1.1 (+/-0.21) cents from the same quarter in 1994. For the fourth quarter of 1995, manufacturers' seasonally adjusted after-tax profits were $45.4 billion, down $5.4 (+/-1.1) billion from last quarter. On an unadjusted basis, fourth quarter after-tax profits were $40.7 billion, down $10.0 (+/-1.1) billion from last quarter and down $6.6 (+/-1.1) billion from the same quarter a year ago. Unadjusted durable manufacturers' after-tax profits for the fourth quarter of 1995 were $19.8 billion, down $1.6 billion or 7.5 percent (+/-3.3%) when compared to the third quarter of 1995. The underlying industry categories showed mixed results. Instruments, fabricated metals, and aircraft reported sharp declines. Instruments' $1.7 (+/-0.3) billion decrease was primarily due to lower operating profits and a reported loss for the quarter in equity earnings from foreign investments. Fabricated metals' $1.2 (+/-0.3) billion decline was a result of decreased operating profits and the inclusion of significant nonrecurring charges in the fourth quarter. Aircraft's $1.0 (+/-0.03) billion downturn was due chiefly to the inclusion of significant nonrecurring charges in the fourth quarter. Also down were stone, clay, and glass, iron and steel, and nonferrous metals. Motor vehicles and machinery reported significant improvements in earnings. Motor vehicles' $1.5 (+/-0.1) billion increase was due to improvements in operating profits and foreign equity earnings. Machinery's $1.4 (+/-0.3) billion increase was due primarily to the absence of substantial nonrecurring charges reported last quarter more than offsetting a decline in operating profits. Increases were also reported by electrical machinery and miscellaneous manufacturing. When compared to the fourth quarter of 1994, total durables were down $2.3 (+/-0.8) billion from that quarter's after-tax profit of $22.2 billion. Most underlying industries reported decreases. Electrical machinery's increase of $3.1 (+/-0.3) billion, due largely to improved foreign equity earnings and operating profits, could not overcome sharp declines in instruments, machinery, and motor vehicles. Instruments' $1.8 (+/-0.2) billion drop was due chiefly to a decline in foreign equity earnings. The declines reported by machinery and motor vehicles of $1.5 (+/-0.4) and $1.4 (+/-0.1) billion, respectively, were a result of lower operating profits. Aircraft and iron and steel also were down. Unadjusted nondurable manufacturers' after-tax profits for the fourth quarter of 1995 were $20.9 billion, down $8.4 billion or 28.6 percent (+/-2.7%) when compared to the third quarter of 1995. Most underlying categories were down. Sharp declines in petroleum, drugs, and industrial chemicals of $3.0 (+/-0.04), $1.8 (+/-0.1), and $1.7 (+/-0.1) billion, respectively, contributed significantly to the total downturn in nondurables. These declines were primarily due to lower operating profits and the inclusion of significant nonrecurring charges. Also down were food, paper, apparel, and textiles. Printing reported an increase of $0.7 (+/-0.6) billion due largely to gains on sale of assets. When compared to the same quarter in 1994, nondurable manufacturers' profits were down $4.2 billion or 16.9 percent (+/-3.2%). Most underlying industries reported declines in after-tax profits, except paper and printing which were up modestly. Most of the total decline was attributable to the decrease reported by petroleum of $3.8 (+/-0.04 ) billion, due chiefly to the inclusion of significant nonrecurring charges and decreases in foreign dividends and equity earnings. Industrial chemicals, drugs, and textiles also were down. Manufacturers' seasonally adjusted sales for the fourth quarter of 1995 were $896.4 billion, up $14.6 billion or 1.7 percent (+/-0.9%) from last quarter. On an unadjusted basis, sales were $908.8 billion, up $30.8 billion or 3.5 percent (+/- 0.9%) from last quarter and up $53.8 billion or 6.3 percent (+/-0.9%) from the fourth quarter of 1994. Seasonally adjusted sales at the nondurable level were $436.1 billion, up $5.9 billion or 1.4 percent (+/-1.2%) from last quarter. Seasonally adjusted durable manufacturers' sales were $460. 2 billion, up $8.7 billion or 1.9 percent (+/-1.4 %) from last quarter. Unadjusted sales at the nondurable manufacturing level were $441.4 billion, up $7.3 billion or 1.7 percent (+/-1.2%) from last quarter and up $26.1 billion or 6.3 percent (+/-1.2%) from the fourth quarter of 1994. Unadjusted durable manufacturers' sales were $467.4 billion, up $23.4 billion or 5.3 percent (+/-1.4%) when compared to the third quarter of 1995. On a same quarter a year ago basis, durable manufacturers' sales were up $27.8 billion or 6.3 percent (+/-1.4%). Also included in this release are fourth quarter 1995 data for large mining and wholesale and retail trade corporations. EXPLANATORY NOTES: This quarter's publication contains data revised due to the reclassification of corporations by industry, and revisions that reflect respondents' corrections of submitted data subsequent to original publication. A statement such as "up 2.5 (+/-0.15) cents," appearing in the text, indicates the range (+2.35 to +2.65 cents) in which the actual change is likely to have occurred. The range given for the change is a 90 percent confidence interval that accounts only for sampling variability. If the range had contained zero (0), it would have been uncertain whether there was an increase or decrease; that is, the change would not have been statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The quarterly publication includes more detailed explanations of confidence intervals and sampling variability, along with additional measures of sampling variability. This report is available on the day of issue through the Department of Commerce's on-line Economic Bulletin Board (N-8-1) (202-377-3870) and through the Census Bureau's on-line information service--CENDATA. Further information about accessing CENDATA can be obtained from Dialog Information Services, Inc. (1-800-334-2564) and CompuServe (1-800-848-8199). The CENDATA staff at the Bureau of the Census (301-457-1214) can provide content information and general guidance. The release is also available on the Internet at this address: (http://www.census.gov/ftp/pub/csd/www/qfr.html). Schedule of Advance Data Release Dates--1996 Quarter Manufacturing, Mining, and Wholesale Trade Retail Trade First 1996 June 17, 1996 July 10, 1996 Second 1996 September 13, 1996 October 16, 1996 Third 1996 December 16, 1996 SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. TABLE 1. PART A--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS Seasonally Adjusted 4Q 3Q* 4Q* 1995 1995(1) 1994(1) Rate of return (after taxes): Cents per dollar of sales ................ 5.1 5.8 6.2 Percent on equity (annual rate) .......... NA NA NA (million dollars) Net Sales.................................. 896,388 881,811 843,095 Income after income taxes ................ 45,377 50,747 52,232 Dividends paid (cash) .................... NA NA NA * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1) Revised. TABLE 1. PART B--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS Unadjusted 4Q 3Q* 4Q* 1995 1995(1) 1994(1) Rate of return (after taxes): Cents per dollar of sales ................ 4.5 5.8 5.5 Percent on equity (annual rate) .......... 12.8 16.2 16.4 (million dollars) Net Sales.................................. 908,753 877,996 854,917 Income after income taxes ................ 40,708 50,694 47,295 Dividends paid (cash) .................... 20,977 20,946 18,988 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1) Revised. ------------------------------------------------------------------------- TABLE 2. PART A--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED Sales 4Q 3Q* 4Q* Industry Group 1995 1995(1) 1994(1) (million dollars) All manufacturing corporations ............ 908,753 877,996 854,917 Nondurable goods .......................... 441,394 434,060 415,331 Food and tobacco......................... 120,510 114,645 112,277 Textiles ................................ 16,667 16,667 16,210 Apparel(2) .............................. 17,661 18,752 18,572 Paper ................................... 42,338 43,991 38,771 Printing ................................ 44,412 41,293 41,125 Chemicals ............................... 98,657 98,483 92,650 Industrial chemicals and synthetics(3).. 38,508 38,448 37,125 Drugs(3) ............................... 26,862 24,888 24,124 Residual of chemicals(3)................ 33,287 35,147 31,400 Petroleum ............................... 72,950 73,005 69,830 Rubber .................................. 28,200 27,224 25,895 Durable goods ............................. 467,360 443,936 439,586 Stone, clay, and glass .................. 15,614 16,472 14,729 Primary metals .......................... 35,826 37,259 35,455 Iron and steel(3) ...................... 15,896 17,128 17,064 Nonferrous metals(3).................... 19,930 20,131 18,390 Fabricated metals ....................... 41,712 41,641 39,810 Machinery ............................... 96,373 89,836 89,755 Electrical machinery .................... 86,614 79,123 74,798 Transportation Equipment ................ 120,048 109,545 117,751 Motor vehicles and equipment(3) ........ 82,990 73,365 82,089 Aircraft, guided missiles, and parts(3). 31,106 29,843 30,841 Instruments ............................. 35,399 34,752 32,812 Other durable goods ..................... 35,773 35,308 34,477 Lumber and wood products(3) ............ 14,879 15,243 14,755 Furniture and fixtures(3) .............. 11,713 11,341 11,319 Miscellaneous manufacturing(3) ......... 9,181 8,724 8,403 Mining(4) ................................. 12,952 11,398 11,645 Wholesale trade(4) ........................ 255,080 232,039 224,575 Retail trade(4) ........................... 259,793 219,355 242,897 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1)Revised. (2)Includes leather industry (previously titled "Other Nondurables"). (3)Included in major industry above. (4)Mining and trade data are quarterly results of companies in those divisions drawn into the sample in the fall of 1994 with assets over $50 million; whereas, data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. ------------------------------------------------------------------------ TABLE 2. PART B--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED Operating Profits* 4Q 3Q** 4Q** Industry Group 1995 1995(1) 1994(1) (million dollars) All manufacturing corporations ............ 60,474 69,794 59,945 Nondurable goods .......................... 34,149 40,631 32,320 Food and tobacco......................... 9,359 10,139 9,338 Textiles ................................ 578 782 830 Apparel(2) .............................. 687 1,258 903 Paper ................................... 4,967 5,734 3,584 Printing ................................ 3,806 3,840 3,872 Chemicals ............................... 9,690 11,916 9,022 Industrial chemicals and synthetics(3).. 2,998 4,263 3,110 Drugs(3) ............................... 3,007 3,627 3,033 Residual of chemicals(3)................ 3,685 4,026 2,879 Petroleum ............................... 3,592 5,228 3,106 Rubber .................................. 1,472 1,735 1,666 Durable goods ............................. 26,324 29,163 27,624 Stone, clay, and glass .................. 1,264 1,895 1,166 Primary metals .......................... 2,200 2,862 2,138 Iron and steel(3) ...................... 791 1,128 1,171 Nonferrous metals(3).................... 1,409 1,734 967 Fabricated metals ....................... 2,546 2,940 2,556 Machinery ............................... 2,665 3,769 3,886 Electrical machinery .................... 8,046 7,678 7,348 Transportation Equipment ................ 5,149 4,321 5,716 Motor vehicles and equipment(3) ........ 2,634 1,615 3,657 Aircraft, guided missiles, and parts(3). 2,190 2,295 1,729 Instruments ............................. 2,642 3,395 2,767 Other durable goods ..................... 1,812 2,302 2,048 Lumber and wood products(3) ............ 573 936 915 Furniture and fixtures(3) .............. 612 732 609 Miscellaneous manufacturing(3) ......... 628 634 524 Mining(4) ................................. 1,159 (155) 539 Wholesale trade(4) ........................ 5,661 5,006 4,583 Retail trade(4) ........................... 13,104 7,684 13,909 * Operating profits are profits before nonoperating income and expense items and income taxes. **Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1)Revised. (2)Includes leather industry (previously titled "Other Nondurables"). (3)Included in major industry above. (4)Mining and trade data are quarterly results of companies in those divisions drawn into the sample in the fall of 1994 with assets over $50 million; whereas, data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. ------------------------------------------------------------------------ TABLE 2. PART C--SALES AND PROFITS OF CORPORATIONS ENGAGED IN MANUFACTURING, MINING, AND TRADE--NOT SEASONALLY ADJUSTED After-Tax Profits 4Q 3Q* 4Q* Industry Group 1995 1995(1) 1994(1) (million dollars) All manufacturing corporations ............ 40,708 50,694 47,295 Nondurable goods .......................... 20,863 29,234 25,104 Food and tobacco ........................ 5,770 6,712 6,000 Textiles ................................ (37) 188 231 Apparel(2) .............................. 498 908 378 Paper ................................... 2,767 3,511 2,259 Printing ................................ 2,635 1,899 1,921 Chemicals ............................... 6,395 9,987 7,487 Industrial chemicals and synthetics(3).. 950 2,660 1,736 Drugs(3) ............................... 3,200 4,976 3,542 Residual of chemicals(3)................ 2,245 2,350 2,209 Petroleum ............................... 1,944 4,973 5,785 Rubber .................................. 892 1,058 1,042 Durable goods ............................. 19,845 21,460 22,191 Stone, clay, and glass .................. 629 1,342 454 Primary metals .......................... 1,585 2,012 1,590 Iron and steel(3) ...................... 493 698 697 Nonferrous metals(3) ................... 1,091 1,315 893 Fabricated metals ....................... 225 1,452 399 Machinery ............................... 3,325 1,969 4,797 Electrical machinery .................... 7,235 6,652 4,147 Transportation equipment ................ 4,475 4,032 6,573 Motor vehicles and equipment(3) ........ 3,531 2,014 4,887 Aircraft, guided missiles, and parts(3). 672 1,691 1,483 Instruments ............................. 1,111 2,854 2,922 Other durable goods ..................... 1,260 1,146 1,309 Lumber and wood products(3) ............ 377 432 550 Furniture and fixtures(3) .............. 327 449 336 Miscellaneous manufacturing(3) ......... 556 265 423 Mining(4) ................................. 601 (279) 108 Wholesale trade(4) ........................ 3,156 2,792 1,904 Retail trade(4) ........................... 4,709 3,562 7,492 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1)Revised. (2)Includes leather industry (previously titled "Other Nondurables"). (3)Included in major industry above. (4)Mining and trade data are quarterly results of companies in those divisions drawn into the sample in the fall of 1993 with assets over $50 million; whereas, data for manufacturing corporations represent the quarterly results of companies with assets over $250,000. SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. ------------------------------------------------------------------------- TABLE 3. PART A--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS--SEASONALLY ADJUSTED Net Sales *(1) Industry Group and Year Q1 Q2 Q3 Q4 (million dollars) All manufacturing: 1990 ............................ 692,938 693,197 706,965 716,620 1991 ............................ 678,379 684,724 699,828 697,494 1992 ............................ 703,906 718,991 730,993 735,877 1993 ............................ 742,631 752,213 754,415 766,119 1994 ............................ 782,634 803,918 826,162 843,095 1995 ............................ 867,976 872,576 881,811 896,388 All nondurable manufacturing: 1990 ............................ 355,460 350,400 364,271 382,446 1991 ............................ 362,192 361,144 366,714 366,514 1992 ............................ 366,039 375,053 379,211 379,641 1993 ............................ 380,913 383,291 379,791 381,060 1994 ............................ 386,724 394,851 406,111 410,321 1995 ............................ 424,947 428,680 430,226 436,139 All durable manufacturing: 1990 ............................ 337,478 342,797 342,694 334,174 1991 ............................ 316,187 323,580 333,114 330,980 1992 ............................ 337,867 343,938 351,782 356,236 1993 ............................ 361,718 368,922 374,624 385,059 1994 ............................ 395,910 409,067 420,051 432,774 1995 ............................ 443,029 443,896 451,585 460,249 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the first three quarters of 1995 have been restated to reflect this change. (1)Revised. -------------------------------------------------------------------------- TABLE 3. PART B--QUARTERLY FINANCIAL REPORT FOR MANUFACTURING CORPORATIONS--SEASONALLY ADJUSTED After-Tax Profits *(1) Industry Group and Year Q1 Q2 Q3 Q4 (million dollars) All manufacturing: 1990 ............................ 29,258 30,648 28,007 23,766 1991 ............................ 19,830 17,854 16,052 13,867 1992 ............................ (42,442) 24,266 26,424 15,075 1993 ............................ 12,781 19,209 24,180 27,780 1994 ............................ 36,884 40,986 46,589 52,232 1995 ............................ 53,671 51,523 50,747 45,377 All nondurable manufacturing: 1990 ............................ 16,278 18,868 18,807 16,705 1991 ............................ 16,886 14,702 15,085 13,427 1992 ............................ (3,868) 18,034 17,499 15,214 1993 ............................ 13,009 15,012 12,379 15,834 1994 ............................ 19,435 19,431 23,627 26,452 1995 ............................ 26,677 27,500 28,524 21,991 All durable manufacturing: 1990 ............................ 12,980 11,780 9,200 7,061 1991 ............................ 2,944 3,152 967 440 1992 ............................ (38,574) 6,232 8,925 (139) 1993 ............................ (228) 4,197 11,801 11,946 1994 ............................ 17,449 21,555 22,962 25,780 1995 ............................ 26,994 24,023 22,223 23,386 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the first three quarters of 1995 have been restated to reflect this change. (1)Revised SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. TABLE 4. INCOME STATEMENT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 4Q 3Q* 4Q* Item 1995 1995(1) 1994(1) (million dollars) Net sales, receipts, and operating revenues .. 259,793 219,355 242,897 Less: Depreciation, depletion and amortization ......................... 4,797 4,563 4,477 Less: All other operating costs and expenses . 241,892 207,109 224,512 Income (or loss) from operations ........... 13,104 7,684 13,909 Net nonoperating income (expense) ............ (4,766) (1,886) (1,745) Income (or loss) before income taxes ....... 8,338 5,798 12,163 Less: Provision for current and deferred domestic income taxes ................ 3,629 2,237 4,672 Income (or loss) after income taxes ........ 4,709 3,562 7,492 Cash dividends charged to retained earnings in current quarter ......................... 990 1,082 1,351 Net income retained in business ............ 3,719 2,480 6,141 Retained earnings at beginning of quarter .... 96,529 90,974 88,941 Other direct credits (or charges) to retained earnings (net) ............................. (1,975) 809 (1,198) Retained earnings at end of quarter ........ 98,274 94,262 93,883 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1) Revised __________________________________________________________________________ TABLE 5. INCOME STATEMENT IN RATIO FORMAT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 4Q 3Q* 4Q* Item 1995 1995(1) 1994(1) (cents) Net sales, receipts, and operating revenues .. 100.0 100.0 100.0 Less: Depreciation, depletion, and amortization ............................... 1.8 2.1 1.8 Less: All other operating costs and expenses . 93.1 94.4 92.4 Income (or loss) from operations ........... 5.0 3.5 5.7 Net nonoperating income (expense) ............ (1.8) (0.9) (0.7) Income (or loss) before income taxes ....... 3.2 2.6 5.0 Less: Provision for current and deferred domestic income taxes ...................... 1.4 1.0 1.9 Income (or loss) after income taxes ........ 1.8 1.6 3.1 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1) Revised -------------------------------------------------------------------------- TABLE 6. OPERATING RATIOS FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF $50 MILLION AND OVER 4Q 3Q* 4Q* Item 1995 1995(1) 1994(1) (percent) Annual rate of profit on stockholders' equity at end of period: Before income taxes ...................... 21.98 15.81 33.47 After income taxes ....................... 12.41 9.72 20.62 Annual rate of profit on total assets: Before income taxes ...................... 7.33 5.08 11.23 After income taxes ....................... 4.14 3.12 6.92 * Beginning in the fourth quarter of 1995 the threshold for sampling on less than a 1:1 ratio was raised from $50 million to $250 million in assets. To provide comparability, data for the fourth quarter of 1994 and the third quarter of 1995 have been restated to reflect this change. (1) Revised. ----------------------------------------------------------------------------- SOURCE: Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations--QFR-95-4, April 1996. For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. The annual subscription rate is $24; single copy $10. Remittances from foreign countries must be by international money order or by draft on a U.S. bank, $30 a year; single copy $12.50. Files are also available on 3.5 inch flexible diskettes from Customer Services (Diskettes), Administrative and Customer Services Division, Bureau of the Census, Washington, D.C. 20233 (301)763-INFO(4636). The annual subscription cost is $84; $66 for the first diskette and $6 for each additional diskette. Questions concerning this report should be directed to Ronald Lee on (301) 763-5435 or Frank Hartman on (301) 763-7182. -----------------------------------------------------------------------------