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LTI's long-term debt, equity, and debt to equity ratios for
years ending from August 1989 to August 1995 were as follows (in
thousands):
Long-Term Debt to
Year Debt Equity Equity Ratio
1989 $1,788,165 $385,956 4.63
1990 2,008,141 303,739 6.61
1991 1,989,926 475,642 4.18
1992 1,770,805 455,221 3.89
1993 1,741,133 317,935 5.48
1994 1,620,623 452,046 3.59
1995 2,249,500 412,500 5.45
Financial ratios for Transit and Tree for the years in issue
were as follows:
Transit
1985 1986 1987 1988
Tangible Net Worth (7,020) (18,734) (21,529) (56,284)
(000 omitted)
Quick Ratio .13 .40 .77 .81
Current Ratio .22 .57 1.13 1.11
Debt/Equity Ratio 9.94 10.52 9.43 15.44
Liabilities/Equity 11.17 11.71 10.66 16.87
Liab./Tang. N.W. N/A N/A N/A N/A
Tree
1985 1986 1987 1988
Tangible Net Worth - 4,354 (11,666) (5,711)
(000 omitted)
Quick Ratio - 1.40 1.16 1.47
Current Ratio - 1.53 1.23 1.61
Debt/Equity Ratio - .87 95.86 3.09
Liabilities/Equity - 1.54 109.84 3.43
Liab./Tang. N.W. - 1.55 N/A N/A
Petitioners' ratios for earnings before taxes (EBIT) to
interest and EBITDA minus CAPEX to interest for the years in
issue (unaudited for LII for the year ending August 1988) are as
follows:
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