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(in millions, except per share amounts)
May 26, May 28,
1996 1995
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ASSETS
Current assets:
Cash and cash equivalents $ 442.4 $ 420.3
Short-term marketable investments 61.9 47.1
Receivables, net 281.2 318.0
Inventories 325.7 263.0
Deferred tax assets 71.1 77.4
Other current assets 73.7 52.5
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Total current assets 1,256.0 1,178.3
Property, plant and equipment, net 1,308.1 962.4
Long-term marketable investments 11.7 20.2
Other assets 82.2 74.8
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Total assets $2,658.0 $2,235.7
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt $ 21.5 $ 23.6
Accounts payable 255.6 272.0
Accrued expenses 235.1 230.7
Income taxes 164.6 159.6
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Total current liabilities 676.8 685.9
Long-term debt 350.5 82.5
Deferred income taxes 12.1 20.1
Other non-current liabilities 41.4 40.5
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Total liabilities $1,080.8 $ 829.0
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Commitments and contingencies
Shareholders' equity:
Preferred stock of $0.50 par value.
Authorized 1,000,000 shares. Issued
and outstanding 345,000 shares of
convertible preferred stock in 1995
(liquidation preference of $172.5) $ - $ 0.2
Common stock of $0.50 par value.
Authorized 300,000,000 shares.
Issued and outstanding 136,923,332
in 1996; 125,895,301 in 1995 68.4 63.1
Additional paid-in capital 930.2 992.3
Retained earnings 581.9 411.0
Unearned compensation - restricted stock (3.3) -
Treasury stock, at cost:
3,094,896 shares in 1995 - (59.9)
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Total shareholders' equity $1,577.2 $1,406.7
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Total liabilities and
shareholders' equity $2,658.0 $2,235.7
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