Reorganize the Balance Sheet Estimate current capital structure. Treat post reti
ID: 2742834 • Letter: R
Question
Reorganize the Balance Sheet
Estimate current capital structure. Treat post retirement obligations as debt.
Balance Sheet Business Segments Income Statement Assets: 2005 2006 Exploration & Production: 2004 2005 2006 Operating Results: 2004 2005 2006 Cash & Cash equivalents 16,707 19,206 Operating Revenue 15,931 20,870 22,357 Operating Revenues 201,425 249,246 248,518 Restricted Cash 3,131 3,131 After-Tax Earnings 6,781 13,349 12,556 Plus: Other Income 1,239 2,817 3,524 Notes Receivable 18,689 19,681 Total Revenue & Other Income 202,664 252,062 252,042 Inventory 6,338 7,286 Capital Expenditures 6,000 7,180 7,940 Less: Crude Oil & Product Purchases 94,672 125,949 124,131 Prepaid Expenses 2,218 2,226 Depreciation 4,444 4,790 5,525 Less: Production & Manufacturing 15,793 18,237 20,079 Total Current Assets 47,083 51,528 Total Assets 76,866 125,042 140,100 Less: Selling, General & Administrative 9,417 9,793 9,706 Less: Depreciation & Depletion 6,642 6,972 7,763 Investments & Advances 30,140 34,205 Less: Exploration Expense 747 656 803 Net Property, Plant & Equipment 156,630 167,350 Less: Sales Based Taxes 18,539 20,905 20,659 Other Assets 10,818 9,294 Refining & Marketing: 2004 2005 2006 Less: Other Taxes & Duties 27,849 28,257 26,658 Total Assets 244,671 262,378 Operating Revenue 166,280 206,719 202,971 Operating Income 29,005 41,294 42,243 After-Tax Earnings 2,320 4,382 4,047 Less: Interest Expense 10,568 8,028 11,081 Liabilities & Owners' Equity: Less: Other Non-Operating Expenses 528 543 715 Accounts Payable & Accrued Liabilities 24,562 26,576 Capital Expenditures 1,455 1,550 1,683 Income Before Taxes 17,910 32,723 30,447 Current Portion of Long Term Debt 26,534 20,767 Depreciation 1,620 1,591 1,596 Less: Taxes 7,414 12,830 11,747 Taxes Payable 5,723 5,462 Total Assets 60,688 91,629 93,829 Net Income 10,496 19,893 18,701 Total Current Liabilities 56,819 52,805 Long Term Debt 82,414 81,078 Post Retirement Benefit Obligations 6,950 9,473 Petrochemicals: 2004 2005 2006 Accrued Liabilities 4,375 4,839 Operating Revenue 19,215 21,657 23,189 Deferred Taxes 14,197 14,179 After-Tax Earnings 1,394 2,162 2,097 Other Long Term Liabilities 2,423 2,725 Capital Expenditures 305 330 436 Total Shareholders' Equity 77,493 97,280 Depreciation 578 591 642 Total Liabilities & Owners' Equity 244,671 262,378 Total Assets 19,943 28,000 28,450Explanation / Answer
Balance Sheet Business Segments Income Statement Assets: 2005 2006 Exploration & Production: 2004 2005 2006 Operating Results: 2004 2005 2006 Cash & Cash equivalents 16707.00 19206.00 Operating Revenue 15,931 20,870 22,357 Operating Revenues 2,01,425 2,49,246 2,48,518 Restricted Cash 3131.00 3131.00 After-Tax Earnings 6,781 13,349 12,556 Plus: Other Income 1,239 2,817 3,524 Notes Receivable 18689.00 19681.00 Total Revenue & Other Income 2,02,664 2,52,062 2,52,042 Inventory 6338.00 7286.00 Capital Expenditures 6,000 7,180 7,940 Less: Crude Oil & Product Purchases 94,672 1,25,949 1,24,131 Prepaid Expenses 2218.00 2226.00 Depreciation 4,444 4,790 5,525 Less: Production & Manufacturing 15,793 18,237 20,079 Total Current Assets 47083.00 51528.00 Total Assets 76,866 1,25,042 1,40,100 Less: Selling, General & Administrative 9,417 9,793 9,706 Less: Depreciation & Depletion 6,642 6,972 7,763 Investments & Advances 30140.00 34205.00 Less: Exploration Expense 747 656 803 Net Property, Plant & Equipment 156630.00 167350.00 Less: Sales Based Taxes 18,539 20,905 20,659 Other Assets 10818.00 9294.00 Refining & Marketing: 2004 2005 2006 Less: Other Taxes & Duties 27,849 28,257 26,658 Total Assets 244671.00 262378.00 Operating Revenue 1,66,280 2,06,719 2,02,971 Operating Income 29,005 41,294 42,243 After-Tax Earnings 2,320 4,382 4,047 Less: Interest Expense 10,568 8,028 11,081 Liabilities & Owners' Equity: Less: Other Non-Operating Expenses 528 543 715 Accounts Payable & Accrued Liabilities 24562.00 26576.00 Capital Expenditures 1,455 1,550 1,683 Income Before Taxes 17,910 32,723 30,447 Current Portion of Long Term Debt 26534.00 20767.00 Depreciation 1,620 1,591 1,596 Less: Taxes 7,414 12,830 11,747 Taxes Payable 5723.00 5462.00 Total Assets 60,688 91,629 93,829 Net Income 10,496 19,893 18,701 Total Current Liabilities 56819.00 52805.00 Long Term Debt 82414.00 81078.00 Post Retirement Benefit Obligations 6950.00 9473.00 Petrochemicals: 2004 2005 2006 Accrued Liabilities 4375.00 4839.00 Operating Revenue 19,215 21,657 23,189 Deferred Taxes 14197.00 14179.00 After-Tax Earnings 1,394 2,162 2,097 Other Long Term Liabilities 2423.00 2725.00 Capital Expenditures 305 330 436 Total Shareholders' Equity 77493.00 97280.00 Depreciation 578 591 642 Total Liabilities & Owners' Equity 244671.00 262378.00 Total Assets 19,943 28,000 28,450 Current Capital Structure : Long Term Debt 81078.00 Obligations 9473.00 Accrued Liabilities 4839.00 Deferred Taxes 14179.00 Other Long Term liabilities 2725.00 112294.00 Short Term Liabilities : Accounts payable & accru. Liabilities 26576.00 Debt 20767.00 Taxes payable 5462.00 52805.00 Equity Capital : Equity 97280.00