Chart 40 Non-Bank Corporations Have the Best Balance Sheets in 25 Years

Year Cash and Cash Equivalents (dollars in millions) Cash Percentage of Long-Term Debt
1980 " 75,921 " 31.74%
1981 " 74,518 " 28.01%
1982 " 77,147 " 25.62%
1983 " 96,933 " 33.13%
1984 " 108,685 " 32.97%
1985 " 104,713 " 33.29%
1986 " 124,287 " 36.18%
1987 " 137,663 " 40.14%
1988 " 129,599 " 35.10%
1989 " 98,332 " 17.41%
1990 " 95,487 " 15.30%
1991 " 104,726 " 16.45%
1992 " 109,269 " 14.79%
1993 " 115,242 " 19.24%
1994 " 125,911 " 20.33%
1995 " 134,937 " 20.14%
1996 " 155,298 " 21.50%
1997 " 168,869 " 21.35%
1998 " 202,802 " 23.93%
1999 " 260,587 " 26.57%
2000 " 328,865 " 30.37%
2001 " 352,382 " 26.55%
2002 " 413,611 " 31.67%
2003 " 499,847 " 38.69%
2004 " 626,258 " 40.24%
"July 1, 2005" " 634,402 " 41.26%

Note: The last time that cash and cash equivalents (as a percentage of long-term debt) reached this level (on July 1, 2005) was in 1987. Sources: Standard and Poor's and CIBC World Markets.