PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
Published on October 29, 1998
EXHIBIT 99(i)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
(dollars in millions, except per share amount)
SEPTEMBER 25,
ASSETS 1998
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CASH AND CASH EQUIVALENTS .................................... $ 8,965
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CASH AND SECURITIES SEGREGATED FOR REGULATORY PURPOSES
OR DEPOSITED WITH CLEARING ORGANIZATIONS ................... 12,583
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MARKETABLE INVESTMENT SECURITIES ............................. 4,213
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TRADING ASSETS, AT FAIR VALUE
Corporate debt and preferred stock ........................... 26,908
Equities and convertible debentures .......................... 28,326
Contractual agreements ....................................... 25,491
U.S. Government and agencies ................................. 14,139
Non-U.S. governments and agencies ............................ 9,001
Mortgages, mortgage-backed, and asset-backed ................. 10,529
Other ........................................................ 3,542
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117,936
Securities received as collateral, net of securities
pledged as collateral ...................................... 5,202
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Total ........................................................ 123,138
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SECURITIES PLEDGED AS COLLATERAL ............................. 18,386
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RECEIVABLES UNDER RESALE AGREEMENTS .......................... 73,125
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RECEIVABLES UNDER SECURITIES BORROWED TRANSACTIONS ........... 43,176
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OTHER RECEIVABLES
Customers (net of allowance for doubtful accounts of $55) .... 29,881
Brokers and dealers .......................................... 7,319
Interest and other ........................................... 9,096
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Total ........................................................ 46,296
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INVESTMENTS OF INSURANCE SUBSIDIARIES ........................ 4,507
LOANS, NOTES, AND MORTGAGES (net of allowance for
loan losses of $148) ....................................... 7,161
OTHER INVESTMENTS ............................................ 2,144
PROPERTY, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT
(net of accumulated depreciation and amortization
of $3,338) ................................................. 2,570
GOODWILL (net of accumulated amortization of $284) .............. 5,413
OTHER ASSETS ................................................. 1,742
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TOTAL ASSETS ................................................. $353,419
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EXHIBIT 99(i)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
(dollars in millions, except per share amount)
LIABILITIES, PREFERRED SECURITIES ISSUED BY SEPTEMBER 25,
SUBSIDIARIES, AND STOCKHOLDERS' EQUITY 1998
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LIABILITIES
PAYABLES UNDER REPURCHASE AGREEMENTS AND SECURITIES
LOANED TRANSACTIONS ........................................ $ 100,174
---------
COMMERCIAL PAPER AND OTHER SHORT-TERM BORROWINGS ............. 43,409
---------
TRADING LIABILITIES, AT FAIR VALUE
Contractual agreements ....................................... 22,733
U.S. Government and agencies ................................. 10,572
Equities and convertible debentures .......................... 19,677
Non-U.S. governments and agencies ............................ 10,893
Corporate debt, preferred stock, and other ................... 6,049
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Total ........................................................ 69,924
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OBLIGATION TO RETURN SECURITIES RECEIVED AS COLLATERAL ....... 23,588
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OTHER PAYABLES
Customers .................................................... 20,727
Brokers and dealers .......................................... 5,772
Interest and other ........................................... 18,785
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Total ........................................................ 45,284
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LIABILITIES OF INSURANCE SUBSIDIARIES ........................ 4,404
LONG-TERM BORROWINGS ......................................... 55,064
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TOTAL LIABILITIES ............................................ 341,847
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PREFERRED SECURITIES ISSUED BY SUBSIDIARIES .................. 1,777
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STOCKHOLDERS' EQUITY
PREFERRED STOCKHOLDERS' EQUITY ............................... 425
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COMMON STOCKHOLDERS' EQUITY
Exchangeable Shares, issued: 4,831,224 shares ................ 71
Common stock, par value $1.33 1/3 per share;
authorized: 1,000,000,000 shares;
issued: 472,660,324 shares ................................. 630
Paid-in capital .............................................. 1,405
Accumulated other comprehensive loss (net of tax) ............ (59)
Retained earnings ............................................ 10,227
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12,274
Less: Treasury stock, at cost: 119,242,755 shares ............ 2,190
Employee stock transactions ............................ 714
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TOTAL COMMON STOCKHOLDERS' EQUITY ............................ 9,370
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TOTAL STOCKHOLDERS' EQUITY ................................... 9,795
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TOTAL LIABILITIES, PREFERRED SECURITIES ISSUED BY
SUBSIDIARIES, AND STOCKHOLDERS' EQUITY ..................... $ 353,419
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