KEY TO ROSTER--The corporate name of each company is followed by its founding or incorporation date in parentheses. Sales figures have been confined as closely as possible to operating revenues. They include equity in earnings of joint venture corporations as reported, but exclude nonoperating revenue such as dividends and gains from the sale of real estate. Income figures are given before extraordinary items. Related income-per-share figures are fully diluted when available and are based on average shares outstanding during the year, or the number of shares outstanding at year-end, depending on the company's accounting method. Sales and income figures are given for the year-end 1986 or fiscal year ended on or before February 28, 1987 followed in parentheses by sales and income figures, respectively, for the prior reporting period. Where preliminary figures have been made available, they have been so noted. Dividend figures (when paid) are reported for common stock shares. Asset figures are given as of the final day of the year covered by sales and income figures. The term "1986 Rank" indicates the rank of the company in the 1986 Los Angeles Times Roster. The 1986 Roster was published June 8, 1986 and used figures for years ended most recently prior to March 31, 1986. The abbreviation NYSE, ASE, PSE and OTC indicate listing/trading on the New York, American and Pacific stock exchanges or trading on the over-the-counter market. The various categories of companies have been ranked on the following basis: industrial firms by sales/revenues; merchandising firms by sales; transportation firms and utilities by revenues; and financial institutions and insurance firms by assets.
The top 10 California-headquartered, publicly held companies ranked by revenues for year-end 1986 or fiscal year ended on or before February 28, 1987.
1 Pacific Telesis Group (1984) A diversified telecommunications corporation based in San Francisco. Through its telephone operating companies, provides local exchange and toll service, network access and directory advertising. Other businesses include cellular mobile communications and marketing of information, paging and telecommunications systems. Revenues: $8.98 billion year-end 1986 ($8.50 billion in 1985). Income: $1.08 billion or $5.02 a share ($929.1 million or $4.54, restated). Dividends: $3.04 a share ($2.86, restated). Per share figures reflect two-for-one stock split in June 1986. Assets: $20.32 billion. Employees: total 74,940; California 72,510. Headquarters: 140 New Montgomery St., San Francisco 94105. Chairman and chief executive: Donald E. Guinn. 1986 rank: 1. NYSE, PSE
2 Pacific Gas and Electric Co. (1905) Investor-owned electric and gas utility. Provides electricity to nearly 3.9 million customers and natural gas to more than 3 million customers. Service area in northern and central California covers about 94,000 square miles and includes 48 of the state's 58 counties, with a population of more than 10 million people. Revenues: $7.82 billion year-end 1986 ($8.43 billion in 1985). Income: $1.08 billion or $2.60 a share ($1.03 billion or $2.65). Dividends: $1.90 a share ($1.81). Assets: $21.00 billion. Employees: total 29,200; California same. Headquarters: 77 Beale St., San Francisco 94106. Chairman and chief executive: Richard A. Clarke. President: George A. Maneatis. 1986 rank: 2. NYSE, ASE, PSE
3 Pacific Lighting Corp. (1886) A holding company whose principal subsidiary is Southern California Gas Co., the nation's largest gas distribution utility. Other major lines of business are specialty retailing, oil and gas exploration and production and land development. Revenues: $5.35 billion year-end 1986 ($6.52 billion in 1985, restated). Income: $83.6 million or $1.34 a share ($186.7 million or $3.25, restated). Dividends: $3.48 a share ($3.36). Assets: $5.02 billion. Employees: total 26,570; California 23,990. Headquarters: 810 S. Flower St., Los Angeles 90017. Chairman and chief executive: Paul A. Miller. President: James R. Ukropina. 1986 rank: 4. NYSE, ASE, PSE
4 Southern California Edison Co. (1909) Public utility primarily engaged in supplying electrical energy in portions of central and Southern California, excluding Los Angeles and certain other cities. Service area covers 50,000 square miles and approximately 10 million people. Revenues: $5.31 billion year-end 1986 ($5.17 billion in 1985). Income: $768.6 million or $3.27 a share ($774.1 million or $3.22). Dividends: $2.22 a share ($2.10). Assets: $13.24 billion. Employees: total 17,180; California 16,640. Headquarters: 2244 Walnut Grove Ave., Rosemead 91770. Chairman and chief executive, Howard P. Allen. President: H. Frederick Christie. 1986 rank: 3. NYSE, ASE, PSE