EXHIBIT S-260 TABLE 31.-United States Steel's operating and financial story, 1902-49, United States Steel Corp., and subsidiaries TABLE 31.-United States Steel's operating and financial story, 1902-49, United States Steel Corp. and subsidiaries-Continued UNITED STATES STEEL'S OPERATING STORY, 1902-49-Continued Production data, which are grouped in broad product classifications, include all production of the materials by the operating subsidiaries and exclude all materials purchased. TABLE 31.-United States Steel's financial story, 1902-49 The data are in some respects necessarily approximate, and are based on the yearly earnings reported annually to stockholders without adjustment for surplus charges and credits except that the years 1942 and 1943 reflect renegotiation settlements made in the succeeding years. For example, taxes are as accrued before adjustments. EXHIBIT S-261 INTERSTATE COMMERCE COMMISSION BUREAU OF ACCOUNTS AND COST FINDING Washington 25, D. C. DATA RELATING TO RATES OF RETURN ON STOCKHOLDERS' INVESTMENT AND ON TOTAL INVESTMENT FOR CERTAIN RAILROAD COMPANIES CONTROLLED BY THE UNITED STATES STEEL CORP. The rates of return and other data for the railroad companies that are presented in the attached tables prepared by the Bureau of Accounts and Cost Finding of the Interstate Commerce Commission were compiled from the annual reports filed by the companies with the Interstate Commerce Commission for the years 1947, 1948, and 1949. The tables on sheets 2 (exhibit S-261A) and 3 (exhibit S-261B) present the rates of return on stockholders' investment and the total investment (invested and borrowed capital) both before and after provision for payment of Federal income taxes. The stockholders' investment, shown on sheet 4 (exhibit S-261C), includes the total average capital stock outstanding and the surplus for each year. The total investment, shown on sheet 5, includes in addition long-term debt of the companies. The net income (or profit), shown on sheet 4, used in computing the rates of return for stockholders' investment is the reported net income. The net income (or profit), shown on sheet 5 (exhibit S-261D), used in computing the rates of return for the total investment is the reported net income before deductions for interest charges on long-term debt. Condensed statement of net income (or profit) is shown on sheet 6 (exhibit S-261E); and condensed statement of assets, liabilities, and capital, is shown on sheet 7 (exhibit S-261F). Statistical data of mileage and traffic handled is shown on sheet 8 (exhibit S-261G). The data were prepared for and upon request of the Committee on the Judiciary, Subcommittee on Study of Monopoly Power, of the House of Representatives, United States of America. WASHINGTON, D. C., April 1590. EXHIBIT S-261A Rates of return on stockholders' investment (capital stock and surplus) for certain railroad companies controlled by the United States Steel Corp., years 1947, 1948, and 1949, both before and after provision for Federal income taxes Rates of return on total investment (invested and borrowed capital) for certain railroad companies controlled by the United States Steel Corp., years 1947, 1948, and 1949, both before and after provision for Federal income taxes EXHIBIT S-261C Income (profit) on stockholders' investment (capital stock and surplus) for certain railroads controlled by the United States Steel Corp., years 1947, 1948, and 1949, both before and after provision for Federal income taxes Income (profit) on total investment (invested and borrowed capital) for certain railroads controlled by the United States Steel Corp., years 1947, 1948, and 1949, both before and after provision for Federal income taxes |