LM » Topics » Balance Sheet

This excerpt taken from the LM 8-K filed Oct 22, 2009.

Balance Sheet

At September 30, 2009, Legg Mason’s cash position was $1.6 billion.  Total debt was $2.0 billion and stockholders' equity was $5.7 billion.  The ratio of total debt to total capital (total equity plus total debt) was 25%. As a result of the exchange of equity units in August, the total number of shares outstanding was 161.3 million as of September 30, 2009 as compared to 142.5 million as of June 30, 2009.

This excerpt taken from the LM 8-K filed Jul 20, 2009.

Balance Sheet

At June 30, 2009, Legg Mason’s cash position was $1.6 billion.  Total debt was $3.0 billion and stockholders' equity was $4.7 billion.  The ratio of total debt to total capital (total equity plus total debt) was 39%. After the proposed inducement to exchange approximately $1.1 billion of Equity Units for equity and cash, the ratio of total debt to total capital would be 25%.

This excerpt taken from the LM 8-K filed May 5, 2009.

Balance Sheet

At March 31, 2009, Legg Mason’s cash position was $1.1 billion, total debt was $3.2 billion and stockholders' equity was $4.5 billion.  The ratio of total debt to total capital (total equity plus total debt) was 42%.

This excerpt taken from the LM 8-K filed Jan 28, 2009.

Balance Sheet

At December 31, 2008, Legg Mason’s cash position, including cash equivalents and cash restricted for collateral purposes, was $2.4 billion, total debt was $3.5 billion, including $1.2 billion of debt issued as part of equity units, and stockholders' equity was $4.8 billion.  The ratio of total debt to total capital (total equity plus total debt) was 42%.


This excerpt taken from the LM 8-K filed Oct 29, 2008.

Balance Sheet

At September 30, 2008, Legg Mason’s cash position, including cash equivalents and cash restricted for collateral purposes, was $3.1 billion, total debt was $3.5 billion and stockholders' equity was $6.4 billion.  The ratio of total debt to total capital (total equity plus total debt) was 35%.


This excerpt taken from the LM 8-K filed Jul 25, 2008.

Balance Sheet

At June 30, 2008, Legg Mason’s cash position, including cash equivalents, repurchase agreements and cash restricted for collateral purposes, was $4.1 billion, total debt was $3.9 billion and stockholders’ equity was $6.5 billion.  The ratio of total debt to total capital (total equity plus total debt) was 37%.

Subsequent to quarter end, the Company repaid $425 million of Senior Notes which were due July 2, 2008. After taking into account the repayment, the Company’s total debt was reduced to $3.5 billion and its ratio of total debt to total capital declined to 35%.


This excerpt taken from the LM 8-K filed May 6, 2008.

Balance Sheet

At March 31, 2008, Legg Mason’s cash position, including cash equivalents, repurchase agreements and cash restricted for collateral purposes, was $2.9 billion, total debt was $2.8 billion and stockholders' equity was $6.6 billion.  The ratio of total debt to total capital (total equity plus total debt) was 29%.




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This excerpt taken from the LM 8-K filed Jan 30, 2008.

Balance Sheet

At December 31, 2007, Legg Mason’s cash position was $1.2 billion, total debt was $1.5 billion and stockholders' equity was $7.0 billion.  The ratio of total debt to equity was 21.6%.  


During January, the Company entered into an arrangement to increase its capital base by agreeing to issue $1.25 billion of 2.5% convertible senior notes. After transaction costs and the repurchase of preferred stock convertible into 2.5 million shares of Legg Mason common stock, the transaction will increase the Company’s cash position by approximately $1.0 billion, significantly strengthening the Company’s liquidity. In addition, an existing credit facility was increased to $1.0 billion from $500 million.


This excerpt taken from the LM 8-K filed Oct 24, 2007.

Balance Sheet

At September 30, 2007, Legg Mason’s cash position was $1.4 billion; long-term debt was $1.0 billion; and stockholders' equity was $6.8 billion.  The ratio of total debt to equity was 15%.  
















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