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Summary of profit statistics for 709 industrial companies, 1936 to 1945
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| 1936 | 1937 | 1938 | 1939 | 1940 | |
|---|---|---|---|---|---|
| $ millions | |||||
| Net operating profit (before depreciation)1 | 379 | 455 | 393 | 473 | 598 |
| Depreciation2 | -106 | -113 | -110 | -117 | -140 |
| Investment and other non-operating income (net) | 47 | 50 | 48 | 44 | 40 |
| Bond interest (including exchange and amortization of discount) | -49 | -47 | -45 | -45 | -46 |
| Net profit before income and excess profits tax provision1 | 271 | 345 | 286 | 355 | 452 |
| Income and excess profits tax provision (excluding refundable portion) | -48 | -60 | -51 | -72 | 174 |
| Net income to stockholders1 | 223 | 285 | 235 | 283 | 278 |
| Forced savings (refundable portion of excess profits tax) | - | - | - | - | - |
| Net income available for dividends1 | 223 | 2S5 | 235 | 283 | 278 |
| Net income paid out in cash dividends | 182 | 216 | 229 | 220 | 221 |
| Undistributed income (excluding forced savings)1 | 41 | 69 | 6 | 63 | 57 |
| 1941 | 1942 | 1943 | 1944 | 1945 | |
| $ millions | |||||
| Net operating profit (before depreciation)1 | 740 | 805 | 765 | 699 | 684 |
| Depreciation2 | -170 | -191 | -185 | -157 | -147 |
| Investment and other non-operating income (net) | 42 | 36 | 38 | 40 | 42 |
| Bond interest (including exchange and amortization of discount) | -44 | -43 | -42 | -41 | -39 |
| Net profit before income and excess profits tax provision1 | 568 | 607 | 576 | 541 | 540 |
| Income and excess profits tax provision (excluding refundable portion) | -268 | -306 | -295 | -271 | -267 |
| Net income to stockholders1 | 300 | 301 | 281 | 270 | 273 |
| Forced savings (refundable portion of excess profits tax) | - | -20 | -34 | -28 | -27 |
| Net income available for dividends1 | 300 | 281 | 217 | 242 | 246 |
| Net income paid out in cash dividends. | 221 | 205 | 194 | 192 | 190 |
| Undistributed income (excluding forced savings)1 | 79 | 76 | 53 | 50 | 56 |
| Note: Compiled by the Bank of Canada. The sample includes all those companies with 1941 assets over $200,000 for which consistent reports were available from 1936 to 1945. The accounts of certain companies that were available in some or all of these years were not comparable throughout the period and had to be excluded. The material is, of course, subject to all the limitations and qualifications that apply to the basic accounting statements. Figures are for the respective fiscal years ended nearest to December 31 of the year stated. | |||||
| 1. For purposes of comparability any special capital charges made against income account in company reports have been added back as well as contingent and general reserves. Special inventory reserves (amounting to 0 to 5, 0 to 5, 0 to 3, 1 to 7, 5 to 4, 10 to 7, 6 to 2, 3 to 5, 4 to 3 and 1 to 8 in the years 1936 to 1945, respectively), whether shown by the company in operating expenses or as an adjustment to earned surplus, have been deducted in arriving at net operating profit. | |||||
| 2. Includes deferred development and depletion provision amounting to 7 to 8, 10 to 6, 10 to 2, 9 to 6, 10 to 3, 10 to 3, 9 to 9, 8 to 4, 8 to 6 and 8 to 4 in the years 1936 to 1945, respectively. | |||||
| Source: Statistics Canada, Canada Year Book 1947. | |||||
