PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
Published on July 29, 1998
EXHIBIT 99(i)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
(Dollars in Millions, Except Per Share Amount)
JUNE 26,
ASSETS 1998
- --------------------------------------------------------- ---------
CASH AND CASH EQUIVALENTS. . . . . . . . . . . . . . . . . $ 6,281
---------
CASH AND SECURITIES SEGREGATED FOR REGULATORY PURPOSES
OR DEPOSITED WITH CLEARING ORGANIZATIONS . . . . . . . . 11,933
---------
MARKETABLE INVESTMENT SECURITIES . . . . . . . . . . . . . 4,176
---------
TRADING ASSETS, AT FAIR VALUE
Corporate debt and preferred stock . . . . . . . . . . . . 32,589
Equities and convertible debentures. . . . . . . . . . . . 30,054
Contractual agreements . . . . . . . . . . . . . . . . . . 24,765
U.S. Government and agencies . . . . . . . . . . . . . . . 10,245
Non-U.S. governments and agencies. . . . . . . . . . . . . 11,409
Mortgages, mortgage-backed, and asset-backed . . . . . . . 11,196
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . 4,281
---------
124,539
Securities received as collateral, net of securities
pledged as collateral. . . . . . . . . . . . . . . . . . 12,162
---------
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . 136,701
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SECURITIES PLEDGED AS COLLATERAL . . . . . . . . . . . . . 15,694
---------
RECEIVABLES UNDER RESALE AGREEMENTS. . . . . . . . . . . . 77,828
---------
RECEIVABLES UNDER SECURITIES BORROWED TRANSACTIONS . . . . 42,876
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OTHER RECEIVABLES
Customers (net of allowance for doubtful accounts of $50). 30,398
Brokers and dealers. . . . . . . . . . . . . . . . . . . . 7,114
Interest and other . . . . . . . . . . . . . . . . . . . . 8,915
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Total. . . . . . . . . . . . . . . . . . . . . . . . . . . 46,427
---------
INVESTMENTS OF INSURANCE SUBSIDIARIES. . . . . . . . . . . 4,590
LOANS, NOTES, AND MORTGAGES (net of allowance for
loan losses of $138) . . . . . . . . . . . . . . . . . . 7,621
OTHER INVESTMENTS. . . . . . . . . . . . . . . . . . . . . 1,970
PROPERTY, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT
(net of accumulated depreciation and amortization
of $3,146) . . . . . . . . . . . . . . . . . . . . . . . 2,295
GOODWILL (net of accumulated amortization of $234) . . . . 5,368
OTHER ASSETS . . . . . . . . . . . . . . . . . . . . . . . 1,691
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TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . $ 365,451
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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 JUNE 26,
SUBSIDIARIES, AND STOCKHOLDERS' EQUITY 1998
- --------------------------------------------------------- ---------
LIABILITIES
PAYABLES UNDER REPURCHASE AGREEMENTS AND SECURITIES
LOANED TRANSACTIONS. . . . . . . . . . . . . . . . . . . $ 99,710
---------
COMMERCIAL PAPER AND OTHER SHORT-TERM BORROWINGS . . . . . 50,891
---------
TRADING LIABILITIES, AT FAIR VALUE
Contractual agreements . . . . . . . . . . . . . . . . . . 21,547
U.S. Government and agencies . . . . . . . . . . . . . . . 14,652
Equities and convertible debentures. . . . . . . . . . . . 20,641
Non-U.S. governments and agencies. . . . . . . . . . . . . 11,444
Corporate debt, preferred stock, and other . . . . . . . . 5,383
---------
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . 73,667
---------
OBLIGATION TO RETURN SECURITIES RECEIVED AS COLLATERAL . . 27,856
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OTHER PAYABLES
Customers. . . . . . . . . . . . . . . . . . . . . . . . . 18,900
Brokers and dealers. . . . . . . . . . . . . . . . . . . . 5,540
Interest and other . . . . . . . . . . . . . . . . . . . . 20,857
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Total. . . . . . . . . . . . . . . . . . . . . . . . . . . 45,297
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LIABILITIES OF INSURANCE SUBSIDIARIES. . . . . . . . . . . 4,487
LONG-TERM BORROWINGS . . . . . . . . . . . . . . . . . . . 52,075
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TOTAL LIABILITIES. . . . . . . . . . . . . . . . . . . . . 353,983
---------
PREFERRED SECURITIES ISSUED BY SUBSIDIARIES. . . . . . . . 1,777
---------
STOCKHOLDERS' EQUITY
PREFERRED STOCKHOLDERS' EQUITY . . . . . . . . . . . . . . 425
---------
COMMON STOCKHOLDERS' EQUITY
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. . . . . . . . . . . . . . . . . . . . . . 1,438
Accumulated other comprehensive income(net of tax) . . . . (23)
Retained earnings. . . . . . . . . . . . . . . . . . . . . 10,377
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12,422
Less: Treasury stock, at cost: 125,416,789 shares. . . . . 2,371
Employee stock transactions. . . . . . . . . . . . . 785
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TOTAL COMMON STOCKHOLDERS' EQUITY. . . . . . . . . . . . . 9,266
---------
TOTAL STOCKHOLDERS' EQUITY . . . . . . . . . . . . . . . . 9,691
---------
TOTAL LIABILITIES, PREFERRED SECURITIES ISSUED BY
SUBSIDIARIES, AND STOCKHOLDERS' EQUITY . . . . . . . . . $ 365,451
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