73GM Hsbc Bk. 27

RNS No 2132j
CARGILL INCORPORATED 
10th October 1997

RE:   Cargill, Incorporated U.S.$1,000,000,000 Euro Medium Term Note
      Program

In connection with the above-referenced program, the unaudited financial
statements of Cargill, Incorporated and Consolidated Subsidiaries for the first
quarter ending August 31, 1997, along with Management's Discussion and Analysis
of Financial Condition and Results of Operations.


                CARGILL INCORPORATED AND SUBSIDIARIES
                    CONSOLIDATED BALANCE SHEET
                     AUGUST 31, 1997 AND 1996
                          (In Millions)
                           (Unaudited)

                                             AT AUGUST 31 
ASSETS                                    1997          1996
CURRENT ASSETS 
  Cash and cash equivalents        $       635           765
  Trading securities                     5,696         5,131
  Accounts receivable, notes 
   receivable, and accrued income, net   5,029         4,591
  Inventories                            5,055         4,853
  Other current assets                   1,487         1,106

   Total current assets                 17,902        16,446

Other Assets
  Miscellaneous receivables and 
   assets                                1,378         1,105

Property 
  Owned property, plant & equipment     11,160        10,475
  Property under capital leases            264           266
  Construction in progress                 869           695

                                        12,293        11,435

  Less accumulated depreciation & 
   amortization                          6,666         6,395

     Net Property                        5,627         5,041


     Total Assets                    $  24,907        22,592

                                         AT AUGUST 31
Liabilities and Stockholders' Equity      1997          1996
CURRENT LIABILITIES   
  Short-term debt                    $   7,419         7,926
  Securities sold with agreement to
   repurchase                              909           221
  Accounts payable and accrued expenses  5,360         4,653
  Accrued income taxes                     194           351

    Total Current Liabilities           13,882        13,151

Other Liabilities
  Long-term debt                         2,450         1,400
  Obligations under capital leases         151           156
  Guarantee of ESOP debt                   602           627
  Deferred income taxes                    367           251
  Other deferred liabilities               398           422

     Total Liabilities                  17,850        16,007

Preferred Stock of Subsidiaries             61            60
 
Minority Interests in Subsidiaries         393           385

Stockholders' Equity
  Preferred stock                           10            10
  Management stock, at current book value  192           184
  Retiree stock, at current book value       2            --
  Common stock                               2             2
  Additional paid-in capital                22            23
  Retained earnings                      7,013         6,469
  Unearned ESOP compensation              (543)         (583)
  Accumulated translation adjustment       (95)           36
  Minimum pension liability adjustment      --            (1)

     Total Stockholders' Equity          6,603         6,140

     Total Liabilities and 
      Stockholders' Equity            $ 24,907        22,592

The Consolidated Balance Sheet has been prepared from the books and records of
the Company including interim estimates that have not been subjected to external
audit verification. in my opinion, the Consolidated Balance Sheet is fairly
stated and in conformity with generally accepted accounting principles.

         CONSOLIDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS 
               Three Months Ended August 31, 1997 and 1996
                              (In Millions)
                               (Unaudited)

                                                       Three Months Ended
                                                     8/31/97        8/31/96

CONSOLIDATED STATEMENT OF EARNINGS

Sales and other revenues                         $    13,323         13,637

Cost of sales and other revenues                      12,247         12,505

Gross Profit                                           1,076          1,132

Expenses:
  Selling, general and administrative expenses           527            505
  Depreciation and amortization of property              171            164
  Interest on long-term debt                              40             33
  Interest on short-term debt                            178            139
  Other (income)/expense                                 (20)            (8)

Earnings of consolidated companies before income taxes   180            299

  Income tax expense                                      67            116

Earnings of consolidated companies                       113            183

  Add equity in net earnings (losses) of
   nonconsolidated companies                             (17)             6

  Deduct minority interests in net earnings of
   consolidated subsidiaries                              (3)           (10)

    Net Earnings                                     $    93            179

CONSOLIDATED STATEMENT OF RETAINED EARNINGS 

Retained earnings at beginning of period             $ 6,964          6,331

Net earnings for period                                   93            179

Add/(deduct):
  Cast Dividends                                         (43)           (41)
  Appropriation from current year earnings for net      
   increase in management stock book value                (1)            (4)
  Tax benefit on ESOP dividends                            5              5
  Redemption of ESOP common and management shares         (5)            (1)
Retained Earnings At End of Period                   $ 7,013          6,469

The Consolidated Statements of Earnings and Retained Earnings have been prepared
from the books and records of the Company including interim estimates that have
not been subjected to external audit verification. In my opinion, the
Consolidated Statements of Earnings and Retained Earnings are fairly stated and
in conformity with generally accepted accounting principles.

END


QRFNFLESFDPXFFN

Hsbc Bk. 27 (LSE:73GM)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Hsbc Bk. 27 (LSE:73GM)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024