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Phrack Seventeen
07 April 1988
File 2 of 12 : Dun & Bradstreet Report on AT&T
AT&T Credit File, taken from Dun & Bradstreet by Elric of Imrryr
DUN'S FINANCIAL RECORDS
COPYRIGHT (C) 1987
DUN & BRADSTREET CREDIT SERVICE
Name & Address:
AMERICAN TELEPHONE AND TELEGRAPH Trade-Style Name:
550 Madison Ave AT & T
NEW YORK, NY 10022
Telephone: 212-605-5300
DUNS Number: 00-698-0080
Line of Business: TELECOMMUNICATIONS SVCS TELE
Primary SIC Code: 4811
Secondary SIC Codes: 4821 3661 3357 3573 5999
Year Started: 1885 (12/31/86) COMBINATION FISCAL
Employees Total: 317,000 Sales: 34,087,000,000
Employees Here: 1,800 Net Worth: 14,462,000,000
This is a PUBLIC company
12/31/86 COMBINATION FISCAL
(Figures are in THOUSANDS)
FINANCIALS % COMPANY INDST
COMPANY CHANGE % NORM %
Cash. . . . . . . . . . . . . 2,602,000 17.5 6.7 9.0
Accounts Receivable . . . . . 7,820,000 (13.1) 20.1 5.7
Notes Receivable. . . . . . . ---- ---- ---- 0.2
Inventory . . . . . . . . . . 3,519,000 (26.1) 9.1 1.3
Other Current Assets. . . . . 1,631,000 72.0 4.2 5.8
Total Current Assets. . . . . 15,572,000 (8.0) 40.0 22.0
Fixed Assets. . . . . . . . . 21,078,000 (4.7) 54.2 35.6
Other Non-current Assets. . . 2,233,000 55.9 5.7 42.4
Total Assets. . . . . . . . . 38,883,000 (3.9) 100.0 100.0
Accounts Payable. . . . . . . 4,625,000 (6.4) 11.9 4.2
Bank Loans. . . . . . . . . . ---- ---- ---- 0.2
Notes Payable . . . . . . . . ---- ---- ---- 1.0
Other Current Liabilities . . 6,592,000 0.8 17.0 6.2
Total Current Liabilities . . 11,217,000 (2.4) 28.8 11.6
Other Long Term Liab. . . . . 13,204,000 38.2 34.0 46.8
Deferred Credits. . . . . . . ---- ---- ---- 6.4
Net Worth . . . . . . . . . . 14,462,000 (1.2) 37.2 35.2
Total Liabilities & Worth. . 38,883,000 (3.9) 100.0 100.0
Net Sales . . . . . . . . . . 34,087,000 (2.4) 100.0 100.0
Gross Profit. . . . . . . . . 15,838,000 ---- 46.5 40.1
Net Profit After Tax. . . . . 139,000 (91.1) 0.4 15.3
Dividends/Withdrawals . . . . 1,371,000 (0.9) 4.0 7.7
Working Capital . . . . . . . 4,355,000 (19.8) ---- ----
RATIOS % ---INDUSTRY QUARTILES---
COMPANY CHANGE UPPER MEDIAN LOWER
(SOLVENCY)
Quick Ratio . . . . . . . . . 0.9 (10.0) 2.9 1.2 0.6
Current Ratio . . . . . . . . 1.4 (6.7) 4.9 2.2 1.0
Curr Liab to Net Worth (%). . 77.6 (1.1) 13.2 26.4 38.1
Curr Liab to Inventory (%). . 318.8 32.1 244.8 475.8 675.0
Total Liab to Net Worth (%) . 168.9 (4.3) 127.4 180.2 297.2
Fix Assets to Net Worth (%) . 145.7 (3.6) 144.9 215.0 263.0
(EFFICIENCY)
Coll Period (days). . . . . . 83.7 (11.1) 31.9 46.7 61.6
Sales to Inventory. . . . . . 9.7 32.9 56.2 33.8 20.0
Assets to Sales (%) . . . . . 114.1 (1.6) 210.5 266.1 373.4
Sales to Net Working Cap. . . 7.8 21.9 6.3 2.3 1.1
Acct Pay to Sales (%) . . . . 13.6 (4.2) 4.9 8.7 13.8
(PROFITABILITY)
Return on Sales (%) . . . . . 0.4 (91.1) 20.1 14.6 11.3
Return on Assets (%). . . . . 0.4 (89.5) 7.2 5.7 3.7
Return on Net Worth (%) . . . 1.0 (90.6) 19.0 15.9 12.8
Industry norms based on 469 firms,
with assets over $5 million.
12/31/85 COMBINATION FISCAL
(Figures are in THOUSANDS)
FINANCIALS % COMPANY INDST
COMPANY CHANGE % NORM %
Cash. . . . . . . . . . . . . 2,213,700 3.4 5.5 7.5
Accounts Receivable . . . . . 8,996,100 (4.0) 22.2 5.6
Notes Receivable. . . . . . . ---- ---- ---- 0.4
Inventory . . . . . . . . . . 4,759,300 (0.6) 11.8 1.2
Other Current Assets. . . . . 948,500 (8.2) 2.3 5.1
Total Current Assets. . . . . 16,917,600 (2.4) 41.8 19.8
Fixed Assets. . . . . . . . . 22,112,900 5.2 54.7 39.2
Other Non-current Assets. . . 1,432,000 (3.2) 3.5 41.0
Total Assets. . . . . . . . . 40,462,500 1.6 100.0 100.0
Accounts Payable. . . . . . . 4,942,800 (11.4) 12.2 4.9
Bank Loans. . . . . . . . . . ---- ---- ---- 0.3
Notes Payable . . . . . . . . 2,100 ---- ---- 0.8
Other Current Liabilities . . 6,542,600 15.5 16.2 5.9
Total Current Liabilities . . 11,487,500 2.2 28.4 11.9
Other Long Term Liab. . . . . 9,553,200 2.7 23.6 46.8
Deferred Credits. . . . . . . 4,788,500 18.9 11.8 6.8
Net Worth . . . . . . . . . . 14,633,300 (4.1) 36.2 34.5
Total Liabilities & Worth. . 40,462,500 1.6 100.0 100.0
Net Sales . . . . . . . . . . 34,909,500 5.2 100.0 100.0
Gross Profit. . . . . . . . . ---- ---- ---- 33.7
Net Profit After Tax. . . . . 1,556,800 13.6 4.5 14.0
Dividends/Withdrawals . . . . 1,382,900 3.7 4.0 13.0
Working Capital . . . . . . . 5,430,100 (10.8) ---- ----
RATIOS % ---INDUSTRY QUARTILES---
COMPANY CHANGE UPPER MEDIAN LOWER
(SOLVENCY)
Quick Ratio . . . . . . . . . 1.0 ---- 2.5 1.1 0.6
Current Ratio . . . . . . . . 1.5 ---- 3.8 1.9 0.9
Curr Liab to Net Worth (%). . 78.5 6.5 15.8 29.4 43.9
Curr Liab to Inventory (%). . 241.4 2.8 285.7 485.5 790.6
Total Liab to Net Worth (%) . 176.5 9.6 134.4 190.1 320.9
Fix Assets to Net Worth (%) . 151.1 9.7 148.4 219.0 289.5
(EFFICIENCY)
Coll Period (days). . . . . . 94.1 (8.7) 31.5 47.2 63.8
Sales to Inventory. . . . . . 7.3 5.8 52.3 31.4 18.0
Assets to Sales (%) . . . . . 115.9 (3.4) 217.1 277.8 356.8
Sales to Net Working Cap. . . 6.4 16.4 6.0 2.7 1.6
Acct Pay to Sales (%) . . . . 14.2 (15.5) 6.1 10.4 15.7
(PROFITABILITY)
Return on Sales (%) . . . . . 4.5 9.8 19.0 13.6 9.5
Return on Assets (%). . . . . 3.8 11.8 6.9 5.3 3.4
Return on Net Worth (%) . . . 10.6 17.8 19.7 15.8 12.7
Industry norms based on 605 firms,
with assets over $5 million.
12/31/84 COMBINATION FISCAL
(Figures are in THOUSANDS)
FINANCIALS COMPANY INDST
COMPANY % NORM %
Cash. . . . . . . . . . . . . 2,139,900 5.4 6.6
Accounts Receivable . . . . . 9,370,800 23.5 6.3
Notes Receivable. . . . . . . ---- ---- 0.4
Inventory . . . . . . . . . . 4,789,200 12.0 1.2
Other Current Assets. . . . . 1,033,100 2.6 4.1
Total Current Assets. . . . . 17,333,000 43.5 18.6
Fixed Assets. . . . . . . . . 21,015,000 52.8 45.0
Other Non-current Assets. . . 1,478,600 3.7 36.4
Total Assets. . . . . . . . . 39,826,600 100.0 100.0
Accounts Payable. . . . . . . 5,580,300 14.0 5.2
Bank Loans. . . . . . . . . . ---- ---- 0.2
Notes Payable . . . . . . . . ---- ---- 1.0
Other Current Liabilities . . 5,663,300 14.2 5.5
Total Current Liabilities . . 11,243,600 28.2 11.9
Other Long Term Liab. . . . . 9,300,200 23.4 47.8
Deferred Credits. . . . . . . 4,026,000 10.1 6.5
Net Worth . . . . . . . . . . 15,256,800 38.3 33.8
Total Liabilities & Worth. . 39,826,600 100.0 100.0
Net Sales . . . . . . . . . . 33,187,500 100.0 100.0
Gross Profit. . . . . . . . . 16,436,200 49.5 28.1
Net Profit After Tax. . . . . 1,369,900 4.1 14.1
Dividends/Withdrawals . . . . 1,333,800 4.0 7.3
Working Capital . . . . . . . 6,089,400 ---- ----
RATIOS ---INDUSTRY QUARTILES---
COMPANY UPPER MEDIAN LOWER
(SOLVENCY)
Quick Ratio . . . . . . . . . 1.0 2.3 1.0 0.6
Current Ratio . . . . . . . . 1.5 3.4 1.6 0.9
Curr Liab to Net Worth (%). . 73.7 17.7 30.6 43.5
Curr Liab to Inventory (%). . 234.8 312.5 491.6 754.3
Total Liab to Net Worth (%) . 161.0 139.2 193.7 314.9
Fix Assets to Net Worth (%) . 137.7 161.5 228.9 295.3
(EFFICIENCY)
Coll Period (days). . . . . . 103.1 34.3 51.6 67.8
Sales to Inventory. . . . . . 6.9 52.1 32.6 20.1
Assets to Sales (%) . . . . . 120.0 216.7 268.2 353.0
Sales to Net Working Cap. . . 5.5 7.2 3.1 1.7
Acct Pay to Sales (%) . . . . 16.8 6.2 10.9 15.4
(PROFITABILITY)
Return on Sales (%) . . . . . 4.1 18.5 13.1 9.8
Return on Assets (%). . . . . 3.4 7.0 5.3 3.3
Return on Net Worth (%) . . . 9.0 19.7 15.7 12.6
Industry norms based on 504 firms,
with assets over $5 million.
END OF DOCUMENT
Name & Address:
AMERICAN TELEPHONE AND Trade-Style Name:
550 Madison Ave At & T
NEW YORK, NY 10022
Telephone: 212-605-5300
DUNS Number: 00-698-0080
Line of Business: TELECOMMUNICATIONS SVCS TELE
Primary SIC Code: 4811
Secondary SIC Codes: 4821 3661 3357 3573 5999
Year Started: 1885 (12/31/86) COMBINATION FISCAL
Employees Total: 317,000 Sales: 34,087,000,000
Employees Here: 1,800 Net Worth: 14,462,000,000
This is a PUBLIC company
HISTORY
04/20/87
JAMES E. OLSON, CHB-CEO+ ROBERT E. ALLEN, PRES-COO+
RANDALL L TOBIAS, V CHM+ CHARLES MARSHALL, V CHM+
MORRIS TANENBAUM, V CHM+ S. LAWRENCE PRENDERGAST, V PRES-
TREAS
C. PERRY COLWELL, V PRES-
CONTROLLER
DIRECTOR(S): The officers identified by (+) and Howard H. Baker Jr,
James H. Evans, Peter F. Haas, Philip M. Hawley, Edward G. Jefferson,
Belton K. Johnson, Juanita M. Kreps, Donald S. Perkins, Henry B.
Schacht, Michael I. Sovern, Donald F. McHenry, Rawleigh Warner Jr,
Joseph D. Williams and Thomas H. Wyman.
Incorporated New York Mar 3 1885.
Authorized capital consists of 1,200,000,000 shares common stock $1
par value and 100,000,000 shares preferred stock $1 par value.
Outstanding Capital Stock at Feb 28 1987: 1,071,904,000 common
shares and at Dec 31 1986 preferred stock outstanding consisted of
redeemable preferred shares composed of 8,500,000 shares of $3.64
preferred stated value $50; 8,800,000 shares of $3.74 preferred, stated
value $50 and 25,500 shares of $77.50 preferred, stated value $1,000.
Business started 1885.
The company's common stock is listed on the New York, Boston,
Midwest, Philadelphia and Pacific Coast Stock Exchanges under the symbol
"ATT". At Dec 31 1986 there were 2,782,102 common shareholders. At Jan 1
1986 officers and directors as a group owned less than 1% of the
outstanding common stock with the remainder owned by the public.
OLSON, born 1925. 1950 Univ of North Dakota, BSC. Also attended
Univ of Pennsylvania. 1943-1946 United States Army Air Force. 1960-1970
Northwestern Bell Telephone Co, V Pres-Gen Mgr. 1970-1974 Indiana Bell
Telephone Co, Pres. 1974-1977 Illinois Bell Telephone Co, Pres. 1977 to
date AT&T, 1979 V Chb-Dir; Jun 1985 President, 1986 CHM.
MARSHALL, born 1929, married. 1951 Univ of Illinois, BS; also
attended Bradley Univ; 1953-present AT&T; 1980 Asst Treas, 1976 Vice
Pres-Treas; 1985 Exec Vice President, 1986 V-CHM.
TANENBAUM, born 1928 married. 1949 Johns Hopkins Univ, BA
chemistry. 1950 Princeton Univ, MA chemistry. 1952 PhD in physical
chemistry. 1952 to date AT&T, various positions, 1985 Ex Vice Pres, 1986
V-CHM.
PRENDERGAST, born 1941 married. 1963 Brown Univ, BA. 1969 New York
Univ, MBA. 1963-1973 Western Electric Company; 1973 to date AT&T, 1980
Asst Treas, 1984 V Pres-Treas.
COLWELL, born 1927. Attended AT&T Institute of Technology.
1945-1947 U S Army. Employed by AT&T and its subsidiaries since 1948 in
various positions. 1984 Vice Pres & Contr, AT&T Technologies Inc
(subsidiary); 1985-present V Pres-Contr.
ALLEN born 1935 married. 1957 Wabash College BA. Has held a
vareity of executive position with former Bell Operating subsidiaries
and AT&T subsidiaries. Appointed to current position in 1986.
TOBIAS born 1943. 1964 Indiana University with a BS in Marketing.
Has held a variety of management and executive positions with former
Bell Operating subsidiaries and AT&T subsidiaries. Elected to current
position in 1986.
OTHER OFFICERS: James R. Billingsley, Sr V Pres Federal
Regulation; Michael Brunner, Ex V Pres Federal Systems; Harold
Burlingame, Sr V Pres Public Relations and Employee Information;
Vittorio Cassoni, Sr V Pres Data Systems Division; Richard Holbrook, Sr
V Pres Business Sales; Robert Kavner, Sr V Pres & CFO; Gerald Lowrie, Sr
V Pres Public Affairs; John Nemecek, Ex V Pres Components & Electronic
Systems; John O'Neill, Ex V Pres National Systems Products; Alfred
Partoll, Sr V Pres External Affairs; John Segall, Sr V Pres Corporate
Strategy & Development; Alexander Stack, Sr V Pres Communications
Systems; Paul Villiere, Ex V Pres Network Systems Marketing and Customer
Operations; John Zegler, Sr V Pres and General Counsel; and Lydell
Christensen, Corp V Pres and Secretary.
DIRECTORS: MCHENRY, research professor, Georgetown University.
BAKER JR, partner, Vinson & Elkins and Baker, Worthington, Crossley,
Stansberry & Woolf, attorneys. EVANS, former Chairman, Union Pacific
Corporation. HAAS, Chairman, Levi Strauss & Company. HAWLEY, Chairman,
Carter Hawley Hale Stores Inc. JEFFERSON, former Chairman, E.I. du Pont
de Nemours and Company. JOHNSON, private investor and owner of The
Chaparrosa Ranch. KREPS, former United States Secretary of Commerce.
PERKINS, former Chairman, Jewel Companies Inc. SCHACHT, Chairman,
Cummins Engine Company Inc. SOVERN, President, Columbia University.
WARNER JR, former Chairman, Mobil Corporation. WILLIAMS, Chairman,
Warner Lambert Company. WYMAN, former Chairman, CBS Inc.
As a result of an antitrust action entered against American
Telephone and Telegraph Company (AT&T) by the Department of Justice,
AT&T agreed in Jan 1982 to break up its holdings. In Aug 1982, the U. S.
District Court-District of Columbia, entered a consent decree requiring
AT&T to divest itself of portions of its operations.
The operations affected consisted of exchange telecommunications,
exchange access functions, printed directory services and cellular radio
telecommunications services. AT&T retained ownership of AT&T
Communications Inc, AT&T Technologies Inc, Bell Telephone Laboratories
Incorporated, AT&T Information Systems Inc, AT&T International Inc and
those portions of the 22 Bell System Telephone Company subsidiaries
which manufactured new customer premises equipment. The consent decree,
with modifications, was agreed to by AT&T and the U. S. Department of
Justice and approved by the U. S. Supreme Court in Feb 1983. In Dec
1982, AT&T filed a plan of reorganization, outlining the means of
compliance with the divestiture order. The plan was approved by the
court in Aug 1983
The divestiture completed on Jan 1 1984, was accomplished by the
reorganization of the 22 principal AT&T Bell System Telephone Company
subsidiaries under 7 new regional holding companies. Each AT&T common
shareowner of record as of Dec 10 1983 received 1 share of common stock
in each of the newly formed corporations for every 10 common shares of
AT&T. AT&T common shareowners retained their AT&T stock ownership.
The company has an ownership interest in certain ventures to
include:
(1) Owns 22% of the voting stock of Ing C. Olivetti & C., S.p.A. of
Milan, Italy with which the company develops and markets office
automation products in Europe.
(2) Owns 50% of a joint venture with the N. V. Philips Company of
the Netherlands organized to manufacture and market switching and
transmission systems in Europe and elsewhere.
(3) Owns 44% of a joint venture with the Goldstar Group of the
Republic of Korea which manufactures switching products and distributes
the company's 3B Family of Computers in Korea.
The company also maintain stock interests in other concerns.
In addition to joint venture activities described above,
intercompany relations have also included occasional advances from
subject.
OPERATION
04/20/87
Through subsidiaries, provides intrastate, interstate and
international long distance telecommunications and information transport
services, a broad range of voice and data services including, Domestic
and Long Distance Service, Wide Area Telecommunications Services (WATS),
800 Service, 900 Dial It Services and a series of low, medium and high
speed digital voice and data services known as Accunet Digital Services.
Also manufactures telephone communications equipment and apparatus,
communications wire and cable, computers for use in communications
systems, as well as for general purposes, retails and leases telephone
communications equipment and provides research and development in
information and telecommunications technology. The company is subject to
the jurisdiction of the Federal Communications Commission with respect
to interstate and international rates, lines, services and other
matters. Terms: Net 30, cash and contract providing for progress
payments with final payment upon completion. The company's AT&T
Communications Inc subsidiary provides interstate and intrastate long
distance communications services for 80 million residential customers
and 7 million businesses. Sells to a wide variety of businesses,
government agencies, individuals and others. Nonseasonal.
EMPLOYEES: 317,000 including officers. 1,800 employed here.
FACILITIES: Owns premises in multi story steel building in good
condition. Premises neat.
LOCATION: Central business section on main street.
BRANCHES: The company's subsidiaries operate 19 major manufacturing
plants located throughout the United States containing a total 26.2
million square feet of space of which 1.49 million square feet were in
leased premises. There are 7 regional centers and 24 distribution
centers. In addition, there are numerous domestic and foreign branch
offices.
SUBSIDIARIES: The company had numerous subsidiaries as of Dec 31
1986. Subsidiaries perform the various services and other functions
described above. Its unconsolidated finance subsidiary, AT&T Credit
Corporation, provides financing to customers through leasing and
installment sales programs and purchases from AT&T's subsidiaries the
rights to receivables under long-term service agreements. Intercompany
relations consists of parent making occasional advances to subsidiaries
and service transactions settled on a convenience basis. A list of
principal subsidiaries as of Dec 31 1986 is on file at the Millburn, NJ
office of Dun & Bradstreet.
08-27(9Z0 /61) 00703 001 678 NH
Chemical Bank, 277 Park Ave; Marine Midland Bank, 140 Broadway; Chase
Manhattan Bank, 1 Chase Manhattan Plaza
12/31/86 COMBINATION FISCAL
(Figures are in THOUSANDS)
FINANCIALS % COMPANY INDST
COMPANY CHANGE % NORM %
Total Current Assets. . . . . 15,572,000 (8.0) 40.0 22.0
Fixed Assets. . . . . . . . . 21,078,000 (4.7) 54.2 35.6
Other Non-current Assets. . . 2,233,000 55.9 5.7 42.4
Total Assets. . . . . . . . . 38,883,000 (3.9) 100.0 100.0
Total Current Liabilities . . 11,217,000 (2.4) 28.8 11.6
Other Long Term Liab. . . . . 13,204,000 38.2 34.0 46.8
Net Worth . . . . . . . . . . 14,462,000 (1.2) 37.2 35.2
Total Liabilities & Worth. . 38,883,000 (3.9) 100.0 100.0
Net Sales . . . . . . . . . . 34,087,000 (2.4) 100.0 100.0
Gross Profit. . . . . . . . . 15,838,000 ---- 46.5 40.1
RATIOS % ---INDUSTRY QUARTILES---
COMPANY CHANGE UPPER MEDIAN LOWER
Quick Ratio . . . . . . . . . 0.9 (10.0) 2.9 1.2 0.6
Current Ratio . . . . . . . . 1.4 (6.7) 4.9 2.2 1.0
Total Liab to Net Worth (%) . 168.9 (4.3) 127.4 180.2 297.2
Sales to Inventory. . . . . . 9.7 32.9 56.2 33.8 20.0
Return on Sales (%) . . . . . 0.4 (91.1) 20.1 14.6 11.3
Return on Assets (%). . . . . 0.4 (89.5) 7.2 5.7 3.7
Return on Net Worth (%) . . . 1.0 (90.6) 19.0 15.9 12.8
Industry norms based on 469 firms,
with assets over $5 million.
End_of_File.