Selected Pinkerton's Financial Data (in $millions) 1983 1984 1985 1986 1987 (E)
Income From Services Cost of Services provided Gross Profit Operating Expenses Operating Profit Cash Accounts receivable, net Other current assets Total Current Assets Net property, plant, and equipment Total Assets Accounts payable Accrued expenses ad other current Liabilities Total Current Liabilities Exhibit 2
$
296
265 32 16 16 4 49 53 11 64 0 29
$
308
275 32 17 15 3 51 54 11 65 1 29
$
312
286 26 25 1 2 55 1 58 13 71 2 26
$
368
343 25 25 1 63 1 63 15 79 5 23
$
408
382 27 27 (0) 1 67 1 69 18 87 3 27
-
-
30
30
28
27
31
Selected CPP Financial Data (in $Millions)
12/31/86 12/31/87 (E)
Income from services Cost of services provided Gross Profit Operation expenses Operating Profit Interest expenses, net Amortization of goodwill Income before Tax Taxes Net Income Cash Accounts receivable, net Other current assets Total Current Assets Notes receivable Goodwill Net property, plant, and equipment Total Assets Notes payable current portion of Long-term debt Accounts payable Accrued expenses and other current Liabilities Total Current Liabilities
$243.6 221.9 21.7 16.1 5.6 0.7 0.3 4.6 2.4 $2.2 $1.0 33.8 8.3 $43.1 $2.4 1.8 1.8 49.1 $1.0 1.0 2.7 26.5 31.2
$251.5 229.4 22.1 14.5 7.6 0.4 0.3 6.9 2.9 $4.0 $1.2 34.0 13.4 $48.6 $2.4 1.5 2.6 55.1 $1.6 1.1 2.1 30.4 35.2
Long term debt, less current portion Shareholder's equity Total Liabilities ahd Equities Return on invested capital Exhibit 3 Net Income: Plus amortization of goodwill Less change in net property, plant, and equipmen Less change in the net working capital Less amortization of Long-term debt Total Cash Flow *Under the assumption CPP does not acquire Pinkerton's.
$3.1 14.7 $49.0
$2.0 18.0 $55.2
21%
25%
Five-year Forecast of CPP Income and Cash flow (in $ millions)*
1988 $4.1 0.3 0.1 1.2 1.1 2.0 1989 $4.3 0.3 0.1 0.7 1.0 2.8 1990 $4.6