-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, q7mXDKTuvtYcHrtpUrtIyR9q3GM6w9w+ldM6L6HhtxyIf5Bhok/q7Rs4P1Osfxp4 XElpAFXxXN+aoqcDXG9sCA== 0000014272-94-000009.txt : 19940711 0000014272-94-000009.hdr.sgml : 19940711 ACCESSION NUMBER: 0000014272-94-000009 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRISTOL MYERS SQUIBB CO CENTRAL INDEX KEY: 0000014272 STANDARD INDUSTRIAL CLASSIFICATION: 2834 IRS NUMBER: 220790350 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01136 FILM NUMBER: 94536875 BUSINESS ADDRESS: STREET 1: 345 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10154 BUSINESS PHONE: 2125464000 FORMER COMPANY: FORMER CONFORMED NAME: BRISTOL MYERS CO DATE OF NAME CHANGE: 19891012 11-K 1 FORM 11-K FY ENDED 12/31/93 - SAVINGS & INVESTMENT PROGRAM SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K [ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1993 [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from to ----------- ------------ COMMISSION FILE NUMBER 1-1136 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: BRISTOL-MYERS SQUIBB COMPANY 345 Park Avenue New York, New York 10154 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM INDEX TO FINANCIAL STATEMENTS AND SCHEDULE DECEMBER 31, 1993 Page No. ----------- Required Information F-2 Signature F-3 Report of Independent Accountants F-4 Statement of Net Assets - December 31, 1993 and 1992 F-5 to F-6 Statement of Changes in Net Assets - For the Years Ended December 31, 1993 and 1992 F-7 to F-8 Notes to Financial Statements F-9 to F-20 Schedule I - Schedule of Investments S-1 Exhibit A - Consent of Independent Accountants E-1 F-1 REQUIRED INFORMATION 1. The Financial Statements and Schedule of the Bristol-Myers Squibb Company Savings and Investment Program prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, as amended. Exhibit A. Consent of Price Waterhouse, Independent Accountants. F-2 SIGNATURE The Program - - ----------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Bristol-Myers Squibb Company Savings Plan Committee has duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized. BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM Date: June 29, 1994 By: /s/ Michael F. Mee --------------------- ----------------------------------- Michael F. Mee Senior Vice President and Chief Financial Officer Chairman, Bristol-Myers Squibb Company Savings Plan Committee F-3 To the Participants of the Bristol-Myers Squibb Company Savings and Investment Program and the Savings Plan Committee of Bristol-Myers Squibb Company Report of Independent Accountants --------------------------------- In our opinion, the financial statements listed in the accompanying index present fairly, in all material respects, the net assets of the Bristol-Myers Squibb Company Savings and Investment Program (the "Program") at December 31, 1993 and 1992, and the changes in the Program's net assets for the years then ended, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the plan administrator; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by the plan administrator, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in Schedule I, although required by ERISA, is presented for purposes of additional analysis and is not a required part of the basic financial statements. The information in Schedule I has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ PRICE WATERHOUSE - - --------------------------- PRICE WATERHOUSE New York, New York June 8, 1994 F-4 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM STATEMENT OF NET ASSETS DECEMBER 31, 1993 ($000 OMITTED)
Fixed Money Company Diversified Income Market Loan Total Stock Fund Equity Fund Fund Fund Fund ---------- ---------- ----------- -------- -------- ------- Assets: Interest in Master Trust (Notes 1, 2 and 6) $1,374,530 $646,459 $186,367 $526,342 $15,362 - Loans to participants 26,838 - - - - $26,838 Inter-fund transfers (payable) receivable - (3,576) 1,235 3,140 (149) (650) ---------- -------- -------- -------- ------- ------- Total assets 1,401,368 642,883 187,602 529,482 15,213 26,188 Less: Withdrawals and distributions payable 7,749 3,709 1,074 2,859 107 - ---------- -------- -------- -------- ------- ------- Net assets $1,393,619 $639,174 $186,528 $526,623 $15,106 $26,188 ========== ======== ======== ======== ======= =======
The accompanying notes are an integral part of these financial statements. F-5 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM STATEMENT OF NET ASSETS DECEMBER 31, 1992 ($000 OMITTED)
Fixed Money Company Diversified Income Market Loan Total Stock Fund Equity Fund Fund Fund Fund ---------- ---------- ----------- -------- -------- ------- Assets: Interest in Master Trust (Notes 1, 2, and 6) $1,360,849 $706,115 $157,168 $480,804 $16,762 - Loans to participants 26,503 - - - - $26,503 Inter-fund transfers (payable) receivable - (28) 69 (129) 98 (10) ---------- -------- -------- -------- ------- ------- Total assets 1,387,352 706,087 157,237 480,675 16,860 26,493 Less: Withdrawals and distributions payable 6,024 1,696 535 3,738 55 - ---------- -------- -------- -------- ------- ------- Net assets $1,381,328 $704,391 $156,702 $476,937 $16,805 $26,493 ========== ======== ======== ======== ======= =======
The accompanying notes are an integral part of these financial statements. F-6 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED DECEMBER 31, 1993 ($000 OMITTED)
Fixed Money Company Diversified Income Market Loan Total Stock Fund Equity Fund Fund Fund Fund ---------- ---------- ----------- -------- ---------- ---------- Net assets, January 1, 1993 $1,381,328 $704,391 $156,702 $476,937 $16,805 $26,493 Transfer of participants' net interests from the Bristol-Myers Squibb Company Savings and Investment Program to the S.C. Johnson & Son, Inc. Savings Plan (Note 1) (28,603) (14,476) (4,772) (9,047) (308) - Transfer of participants' net interests from the Bristol-Myers Squibb Company Employee Incentive Thrift Plan into the Bristol-Myers Squibb Company Savings and Investment Program (Note 1) 395 355 4 30 - 6 Inter-fund transfers - (32,731) 10,639 25,169 (2,766) (311) Contributions (Notes 1 and 3): Participants 87,178 43,077 17,631 24,431 2,039 - Employer 41,297 40,346 241 686 24 - ---------- -------- -------- -------- ------- ------- 128,475 83,423 17,872 25,117 2,063 - ---------- -------- -------- -------- ------- ------- Program's share of earnings and net realized and unrealized (losses)/gains of interest in Master Trust (Notes 1, 2 and 6) (8,036) (64,737) 16,444 39,695 562 - Withdrawals and distributions to participants (Notes 1, 3 and 4) (79,940) (37,051) (10,361) (31,278) (1,250) - ---------- -------- -------- -------- ------- ------- Net assets, December 31, 1993 $1,393,619 $639,174 $186,528 $526,623 $15,106 $26,188 ========== ======== ======== ======== ======= =======
The accompanying notes are an integral part of these financial statements. F-7 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED DECEMBER 31, 1992 ($000 OMITTED)
Fixed Money Company Diversified Income Market Loan Total Stock Fund Equity Fund Fund Fund Fund ---------- ---------- ----------- -------- ---------- ---------- Net assets, January 1, 1992 $1,454,853 $822,265 $136,306 $458,316 $19,615 $18,351 Consolidation of the Concept, Inc. Employees' Savings Plan and Trust into the Bristol-Myers Squibb Company Savings and Investment Program (Note 1) 6,785 2,177 833 3,661 114 - Transfer of participants' net interests from the Bristol-Myers Squibb Company Employee Incentive Thrift Plan into the Bristol-Myers Squibb Company Savings and Investment Program (Note 1) 409 393 (4) 20 - - Inter-fund transfers - 2,313 3,158 (10,524) (3,089) 8,142 Contributions (Notes 1 and 3): Participants 90,908 52,426 12,654 23,601 2,227 - Employer 42,845 42,197 117 511 20 - ---------- -------- -------- -------- ------- ------- 133,753 94,623 12,771 24,112 2,247 - ---------- -------- -------- -------- ------- ------- Program's share of earnings and net realized and unrealized (losses)/gains of interest in Master Trust (Notes 1, 2, and 6) (124,626) (176,658) 11,481 39,819 732 - Withdrawals and distributions to participants (Notes 1, 3 and 4) (89,846) (40,722) (7,843) (38,467) (2,814) - ---------- -------- -------- -------- ------- ------- Net assets, December 31, 1992 $1,381,328 $704,391 $156,702 $476,937 $16,805 $26,493 ========== ======== ======== ======== ======= =======
The accompanying notes are an integral part of these financial statements. F-8 BRISTOL-MYERS SQUIBB COMPANY SAVINGS AND INVESTMENT PROGRAM NOTES TO FINANCIAL STATEMENTS NOTE 1 - DESCRIPTION OF PLAN - - ---------------------------- General - - ------- The Bristol-Myers Company Savings Plan became effective on January 1, 1971 and was amended effective as of May 3, 1982 and designated as the Bristol-Myers Company Savings and Investment Program (the "Savings Program"). The Savings Program consisted of Part I, the Bristol-Myers Company Savings Plan (the "Savings Plan") and Part II, the Bristol-Myers Company Pre-Tax Investment Plan (the "Pre-Tax Plan"), providing employees with a choice to participate on either an after-tax or a pre-tax basis or a combination of both. On October 4, 1989, Squibb Corporation merged with a subsidiary of Bristol-Myers Company and Bristol-Myers Company changed its name to Bristol-Myers Squibb Company (the "Company"). Effective October 4, 1989, the name of the Savings Program was changed to the Bristol-Myers Squibb Company Savings and Investment Program. Effective January 1, 1991, the Savings Plan and the Pre-Tax Plan were amended and consolidated into a single plan, the Bristol-Myers Squibb Company Savings and Investment Program (the "Program"). The Program eliminated the Part I and Part II distinction while maintaining after-tax and pre-tax options. The Program operates within a master trust (the "Master Trust"), held by The Northern Trust Company (the "Trustee") under the terms of a Trust Agreement (the "Trust"), which consolidates the assets of the Program with those of the Bristol-Myers Squibb Company Employee Incentive Thrift Plan (the "Thrift Plan"), the Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program (the "Puerto Rico Savings Program"), the Drackett/Bristol-Myers Squibb Employees' Pension Plan and certain assets of the Bristol-Myers Squibb Pension Trust Plans. The assets of the Program, the Thrift Plan and the Company Stock and Diversified Equity Funds of the Puerto Rico Savings Program (collectively the "Savings Plans") are not commingled with the assets of the pension plans and the Fixed Income Fund of the Puerto Rico Savings Program. For purposes of the Program's financial statements, Note 6 only includes the interest of the Savings Plans. Effective January 1, 1992, the Program was amended and consolidated to integrate and merge the portion of the Concept, Inc. Employees' Savings Plan and Trust that was maintained for the benefit of certain employees and former employees of Concept, Inc. who work or reside in the U.S. into the Program. The net assets attributable to the Concept, Inc. Employees' Savings Plan and Trust participants, amounting to $6.8 million, were transferred at the December 31, 1991 market values into the Program. On December 31, 1992, the Company completed the sale of The Drackett Company, its household products business, to S.C. Johnson & Son, Inc. ("SCJ"). SCJ established a savings plan for the Drackett participants which mirrors the Program. The net assets attributable to Drackett participants, amounting to $28.6 million, were transferred at the January 31, 1993 market values into that plan. F-9 On December 21, 1993, the Company completed the sale of certain assets of Edward Weck Incorporated ("Weck") to Teleflex. Teleflex amended its savings plan to accept all Program assets of transferring Weck participants. The net assets attributable to Weck participants, amounting to approximately $9.5 million, were transferred at the January 31, 1994 market values into the Teleflex savings plan. The Bristol-Myers Squibb Company Savings Plan Committee (the "Committee") is the Administrator of the Program and Plan Asset Fiduciary. Contributions - - ------------- In general, an employee electing to participate in the Program can elect to contribute up to 16% of his or her Annual Benefit Salary or Wages (as defined in the Program) on an after-tax basis or to reduce his or her compensation by up to 16% and have such amount contributed on his or her behalf on a pre-tax basis. Participants may also elect a combination of contributions up to a combined total both on an after-tax and on a pre-tax basis of 16%. For each participant, the first 6% of total contributions is matched 75% by the Company. In addition, the Program permits the acceptance of eligible rollover contributions (a distribution from another qualified pension or profit sharing plan or from a conduit individual retirement account), provided certain prerequisites are met. Participant contributions may be invested, as directed by the participant, in any one or equally in any two or more of the following funds: the Company Stock Fund, the Diversified Equity Fund, the Fixed Income Fund and the Money Market Fund. Company matching contributions are automatically invested in the Company Stock Fund. These contributions may not be transferred out of the Company Stock Fund unless the participant is 55 years old or older. If the participant is 55 years old or older, he or she may elect to have the investment of Company matching contributions follow the participant contribution investment direction. Company matching contributions, invested as indicated by the participant in any one or equally in any two or more of the funds, made to the Program prior to the January 1, 1991 merger of the Squibb Corporation Incentive Savings and Stock Ownership Plan, will still be transferrable among the four investment funds. Investments - - ----------- The contributions of participants and the Company are remitted monthly to the Trustee. Each participant must direct that his or her contributions be invested in one or more of the four funds on an after-tax and/or on a pre-tax basis. The four funds under the Program are: Company Stock Fund - Consists of Common Stock of Bristol-Myers Squibb Company which are registered for the purpose of the Program with the United States Securities and Exchange Commission. From time-to-time, the F-10 Program may invest in U.S. Government obligations or other investments of a short-term nature which will ultimately be used for the purchase of shares of Common Stock of Bristol-Myers Squibb Company. Diversified Equity Fund - Consists of participating units of an S&P 500 Equity Index Fund (the "Index Fund") managed by Bankers Trust Company. The Index Fund includes the common stock of those companies included in the S&P 500, including Bristol-Myers Squibb Company and its subsidiaries. Also included within this fund are investments in U.S. Government oblig- ations or other investments of a short-term nature and investments in any commingled trusts established and maintained by the Trustee, for the invest- ment of funds of trusts of profit sharing and pension plans, which trusts are exempt from tax under Section 501(a) of the Internal Revenue Code, as the Trustee in its discretion may choose. Fixed Income Fund - Consists primarily of a group of annuity contracts issued by various insurance companies to the Trustee of the Program under which the insurance companies provide a guarantee of principal and credit interest monthly at a guaranteed rate. Contracts with New York Life Insurance Company ("New York Life"), Prudential Life Insurance Company ("Prudential"), Principal Mutual Life Insurance Company ("Principal Mutual"), Continental Assurance Company ("CNA"), ITT Hartford Life Insurance Company ("ITT Hartford") and Metropolitan Life Insurance Company ("Metropolitan Life") were in place at December 31, 1993. One New York Life contract will mature March 31, 1995. A second New York Life contract will mature in two installments at June 30 of 1996 and 1997. One Prudential contract has one remaining maturity installment at December 31, 1994. A second Prudential contract will mature in three remaining installments at December 31, 1994, 1995 and 1996. The Principal Mutual contract has one remaining maturity installment at January 31, 1994. One CNA contract will mature January 2, 1998. A second CNA contract will mature January 4, 1999. One Metropolitan Life contract will mature July 1, 1999 and a second contract will mature July 1, 2000. The ITT Hartford contract will mature December 31, 1996. From time-to-time, the Program may invest in obligations of the U.S. Government or its agencies, bank investment contracts, other investments of a short-term nature and/or investments in qualified commingled trust funds managed by the Trustee for the investment of funds of profit sharing and savings plans and programs. At any point in time, the fund's interest rate will be a combined rate based upon the balances and interest rates of the investments which comprise the fund, and depend on the amount of contributions invested in the fund, the amounts withdrawn from the fund and the amounts transferred to and from the fund. The fund's effective annual rate is measured by investment performance using general market reporting methods. This rate was 8.3% and 8.8% for the years ending December 31, 1993 and 1992, respectively. Money Market Fund - Consists of (i) obligations with a term of no more than two years issued or guaranteed by the U.S. Government or its agencies, including but not limited to U.S. Treasury bills and notes; (ii) other short term obligations, including but not limited to, commercial paper, bankers' acceptances, certificates of deposit and time deposits; (iii) mutual funds or commingled or pooled investments specified in clauses (i) or (ii) above; and/or (iv) the Northern Trust Company Collective Capital Reserve Short-Term Investment Fund. F-11 The 1993 participant contributions were invested in one or more funds on an after-tax and/or on a pre-tax basis at the discretion of the participant. At December 31, 1993, 9,567 and 13,537 participants were contributing on an after-tax and/or on a pre-tax basis, respectively, in the Program as follows: Participants ---------------------- After-Tax Pre-Tax --------- ------- Company Stock Fund 2,668 4,344 Fixed Income Fund 2,501 1,591 Diversified Equity Fund 532 944 Money Market Fund 29 41 Fixed Income Fund and Company Stock Fund 1,334 1,395 Company Stock Fund and Diversified Equity Fund 980 2,119 Fixed Income Fund and Diversified Equity Fund 557 1,107 Money Market Fund and Fixed Income Fund 58 85 Money Market Fund and Company Stock Fund 88 166 Money Market Fund and Diversified Equity Fund 35 73 Fixed Income Fund/Company Stock Fund/Diversified Equity Fund 491 1,053 Company Stock Fund/Diversified Equity Fund/Money Market Fund 53 151 Company Stock Fund/Fixed Income Fund/Money Market Fund 63 94 Diversified Equity Fund/Fixed Income Fund/Money Market Fund 55 134 All Four Funds 123 240 ------ ------ 9,567 13,537 ====== ====== Withdrawals and transfers - - ------------------------- While remaining in employment, a participant may withdraw all or part of the value attributable to contributions made subject to certain restrictions of the Program. During 1993 and 1992, certain employees, no longer covered by a collective bargaining agreement, became eligible to participate in the Program. Accordingly, their equity was transferred into the Program from the Thrift Plan at the current market value at the time of the transfer. Loans - - ----- Effective January 1, 1984, the Committee may, at its discretion, make loans to participants. The amount of the loan may not exceed the lesser of (1) 50% of the participant's entire vested interest under the Program, determined as of the valuation date, and (2) $50,000 less the highest outstanding loan balance during the previous twelve months. Termination of employment - - ------------------------- Upon the termination of a participant's employment, the participant, or in the event of his or her death, the participant's spouse or designated beneficiary, may, under varying circumstances, receive (1) a lump sum payment, (2) installment payments over a period not to exceed the joint life expectancy of the participant and the participant's spouse (five years if payment is by reason of death) or (3) an annuity. In each case the payment will be based on F-12 the vested value in the respective funds allocated to the participant. A participant vests in Company contributions at the rate of 20% for each year of qualifying service so that after five years of qualifying service he or she is 100% vested. Upon death or normal retirement, a participant will become 100% vested regardless of his or her years of qualifying service. Participants who return to work for the Company who were partially or fully vested will be reinstated to their previous level of vesting and may immediately enroll in the Program. NOTE 2 - ACCOUNTING POLICIES - - ---------------------------- Valuation - - --------- Securities traded on a national securities exchange are valued at their last reported sales price at the end of the year or, if there was not a sale that day, the last reported bid price. Securities traded in the over-the-counter market are valued at the last reported bid price at the end of the year. The investments in the Fixed Income Fund and in the Money Market Fund are valued at cost plus interest earned. The proportionate interest of the Program's assets in the Master Trust is determined by the Trustee. The Program's interest consists of the dollar amount of collective participant ownership interest held. Income, expenses and realized and unrealized gains and losses on securities - - --------------------------------------------------------------------------- Income, expenses and realized and unrealized gains and losses from participation in the Master Trust are apportioned to the Program based on the dollar amount of ownership interest held at the end of each month. Interest is accrued as earned, and dividends are recorded on the ex-dividend date. Realized gains and losses for securities sold are recorded on the trade date and are determined using the average cost method. Unrealized gains and losses represent the difference between the cost and fair value of securities. All expenses of administering the Program, including the fees and expenses of the Trustee, are borne by the Company. NOTE 3 - TERMINATION FORFEITURES - - -------------------------------- Forfeitures of amounts contributed by the Company and certain of its affiliates due to terminations, net of amounts reinstated, are reported as reductions of Company contributions. Forfeitures for the years ended December 31, 1993 and 1992 were ($000 Omitted): Fund 1993 1992 ------------------ ---- ---- Company Stock $710 $530 Diversified Equity 10 18 Fixed Income (21) 60 Money Market 1 6 ---- ---- $700 $614 ==== ==== F-13 NOTE 4 - FEDERAL INCOME TAXES - - ----------------------------- In the Program's latest determination letter, the Internal Revenue Service stated that the Program, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Program has been amended since receiving the determination letter. However, the plan administrator believes that the Program is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, the plan administrator believes that the Program was qualified and the related Trust was tax-exempt as of December 31, 1993. Under present federal income tax laws and regulations, a participant will not be subject to federal income taxes on the contributions by the employing company, or on the interest, dividends or profits on the sale of securities received by the Trustee until the participant's account is distributed to the participant or, prior to January 1, 1982, unqualifiedly made available to the participant. NOTE 5 - TERMINATION OF THE PROGRAM - - ----------------------------------- Although the Company has not expressed any intent to terminate the Program, it may do so at any time. If the Program is terminated, the interest of each participant in all funds will vest immediately. F-14 NOTE 6 - MASTER TRUST STATEMENTS - - -------------------------------- At December 31, 1993, the net assets of the Master Trust relating to the Savings Plans were as follows ($000 Omitted):
Company Diversified Fixed Income Money Market Total Stock Fund Equity Fund Fund Fund ---------- ---------- ----------- ------------ ------------- Investments, at fair value $1,434,973 $696,038 $188,438 $534,259 $16,238 Interest receivable 245 124 21 52 48 Receivable from sale of securities 2,300 2,300 - - - Payable for purchase of securities (2,500) (2,500) - - - ---------- -------- -------- -------- ------- Net assets $1,435,018 $695,962 $188,459 $534,311 $16,286 ========== ======== ======== ======== ======= Program's interest in net assets $1,374,530 $646,459 $186,367 $526,342 $15,362 ========== ======== ======== ======== =======
At December 31, 1993, the investments of the Master Trust relating to the Savings Plans were as follows ($000 Omitted):
Principal amount or number of Market shares or units Company Stock Fund Cost Value - - ---------------- ----------------------------------------------- --------- --------- 11,898,337 Bristol-Myers Squibb Company Common Stock $487,291 $691,591 $4,447 Participation in COLTV Funds: Short-Term Funds 4,447 4,447 -------- -------- Total Company Stock Fund $491,738 $696,038 ======== ======== Diversified Equity Fund ------------------------------------------------ 189,671 Bankers Trust Company S&P 500 Equity Index Fund $134,429 $187,518 $1 Bankers Trust Company Discretionary Cash Fund 1 1 $919 Participation in COLTV Funds: Short-Term Funds 919 919 -------- -------- Total Diversified Equity Fund $135,349 $188,438 ======== ======== Fixed Income Fund ----------------------------------------------- Group Annuity Contracts, New York Life Insurance Company, with interest rates ranging from $212,468 9.00% to 9.45%, varying maturity dates $212,468 $212,468
F-15 NOTE 6 - MASTER TRUST STATEMENTS (con't) - - ----------------------------------------
Principal amount or number of Market shares or units Fixed Income Fund Cost Value - - ---------------- ----------------------------------------------- ---------- ---------- Group Annuity Contracts, Prudential Life Insurance Company, with interest rates ranging from 8.79% $150,385 to 9.14%, varying maturity dates $150,385 $150,385 Group Annuity Contracts, Metropolitan Life $65,957 Insurance Company, 7.0%, varying maturity dates 65,957 65,957 Group Annuity Contract, Continental Assurance $16,239 Company, 7.25%, maturing January 4, 1999 16,239 16,239 Group Annuity Contract, Continental Assurance $35,268 Company, 6.95%, maturing January 2, 1998 35,268 35,268 Group Annuity Contract, Principal Mutual Life $10,285 Insurance Company, 8.35%, maturing January 31, 1994 10,285 10,285 Group Annuity Contract, ITT Hartford Life Insurance $25,102 Company, 5.09%, maturing December 31, 1996 25,102 25,102 $18,555 Participation in COLTV Funds: Short-Term Funds 18,555 18,555 -------- -------- Total Fixed Income Fund $534,259 $534,259 ======== ======== Money Market Fund ----------------------------------------------- $16,238 Participation in COLTV Funds: Short-Term Funds $16,238 $16,238 ======= ======= Total Investments $1,177,584 $1,434,973 ========== ==========
F-16 NOTE 6 - MASTER TRUST STATEMENTS (con't) - - ---------------------------------------- For the year ended December 31, 1993, net investment income of the Master Trust relating to the Savings Plans was as follows ($000 Omitted):
Company Diversified Fixed Income Money Market Total Stock Fund Equity Fund Fund Fund ---------- ---------- ----------- ------------ ------------- Investment income: Interest $ 42,946 $ 1,712 $ 226 $40,413 $595 Dividends 32,933 32,933 - - - --------- --------- ------- ------- ---- 75,879 34,645 226 40,413 595 --------- --------- ------- ------- ---- Net realized gain/(loss) on securities sold or distributed: Proceeds 116,582 29,899 5,699 80,984 - Cost 112,198 26,835 4,270 81,093 - --------- --------- ------- ------- ---- Net realized gain/(loss) 4,384 3,064 1,429 (109) - --------- --------- ------- ------- ---- Change in unrealized appreciation: Net appreciation at the end of the year 257,389 204,300 53,089 - - Net appreciation at the beginning of the year 349,660 311,525 38,135 - - --------- --------- ------- ------- ---- (92,271) (107,225) 14,954 - - --------- --------- ------- ------- ---- Net investment (loss)/income $(12,008) $(69,516) $16,609 $40,304 $595 ========= ========= ======= ======= ==== Program's interest in net investment (loss)/income $(8,036) $(64,737) $16,444 $39,695 $562 ========= ========= ======= ======= ==== At December 31, 1992, the net assets of the Master Trust relating to the Savings Plans were as follows ($000 Omitted): Investments, at fair value $1,425,365 $761,150 $158,534 $487,972 $17,709 Interest receivable 269 153 16 49 51 Payable for purchase of securities (3,000) (3,000) - - - ---------- -------- -------- -------- ------- Net assets $1,422,634 $758,303 $158,550 $488,021 $17,760 ========== ======== ======== ======== ======= Program's interest in net assets $1,360,849 $706,115 $157,168 $480,804 $16,762 ========== ======== ======== ======== =======
F-17 NOTE 6 - MASTER TRUST STATEMENTS (con't) - - ---------------------------------------- At December 31, 1992, the investments of the Master Trust relating to the Savings Plans were as follows ($000 Omitted):
Principal amount or number of Market shares or units Company Stock Fund Cost Value - - ---------------- ---------------------------------------------- -------- -------- 11,249,452 Bristol-Myers Squibb Company Common Stock $446,407 $757,932 $3,218 Participation in COLTV Funds: Short-Term Funds 3,218 3,218 -------- -------- Total Company Stock Fund $449,625 $761,150 ======== ======== Diversified Equity Fund ---------------------------------------------- 176,646 Bankers Trust Company S&P 500 Equity Index Fund $120,364 $158,499 $35 Participation in COLTV Funds: Short-Term Funds 35 35 -------- -------- Total Diversified Equity Fund $120,399 $158,534 ======== ======== Fixed Income Fund ---------------------------------------------- Group Annuity Contracts, New York Life Insurance Company, with interest rates ranging from 9.00% $194,457 to 9.45%, varying maturity dates $194,457 $194,457 Group Annuity Contracts, Prudential Life Insurance Company, with interest rates ranging from 8.79% $138,022 to 9.14%, varying maturity dates 138,022 138,022 Group Annuity Contracts, Metropolitan Life Insurance $61,642 Company, 7.0%, varying maturity dates 61,642 61,642 Short Term Investment, Repo Kidder Peabody, U.S. $33,000 Treasury Bond, 3.6%, maturing January 4, 1993 33,000 33,000 Group Annuity Contract, Principal Mutual Insurance $18,984 Company, 8.35%, varying maturity dates 18,984 18,984 Group Annuity Contract, Continental Assurance Company $17,069 8.52%, maturing January 31, 1993 17,069 17,069 Group Annuity Contract, Continental Assurance Company, $15,142 7.25%, maturing January 4, 1999 15,142 15,142
F-18 NOTE 6 - MASTER TRUST STATEMENTS (con't) - - ----------------------------------------
Principal amount or number of Market shares or units Fixed Income Fund Cost Value - - ---------------- ---------------------------------------------- ---------- ---------- Group Annuity Contract, Phoenix Home Life Insurance $1,262 Company, 9.03%, maturing July 31, 1993 $ 1,262 $ 1,262 $8,394 Participation in COLTV Funds: Short-Term Funds 8,394 8,394 -------- -------- Total Fixed Income Fund $487,972 $487,972 ======== ======== Money Market Fund ---------------------------------------------- $17,709 Participation in COLTV Funds: Short-Term Funds $17,709 $17,709 ========== ========== Total Investments $1,075,705 $1,425,365 ========== ==========
F-19 NOTE 6 - MASTER TRUST STATEMENTS (con't) - - ---------------------------------------- For the year ended December 31, 1992, net investment income of the Master Trust relating to the Savings Plans was as follows ($000 Omitted):
Company Diversified Fixed Income Money Market Total Stock Fund Equity Fund Fund Fund ---------- ---------- ----------- ------------ ------------- Investment income: Interest $ 42,974 $ 1,578 $ 209 $ 40,413 $ 774 Dividends 22,101 22,101 - - - ---------- --------- ------- ---------- ------- 65,075 23,679 209 40,413 774 ---------- --------- ------- ---------- ------- Net realized gain on securities sold or distributed: Proceeds 1,074,833 21,737 5,045 1,024,912 23,139 Cost 1,061,751 9,383 4,317 1,024,912 23,139 ---------- --------- ------- ---------- ------- Net realized gain 13,082 12,354 728 - - ---------- --------- ------- ---------- ------- Change in unrealized appreciation: Net appreciation at the end of the year 349,660 311,525 38,135 - - Net appreciation at the beginning of the year 565,643 538,155 27,488 - - ---------- ---------- ------- ---------- ------- (215,983) (226,630) 10,647 - - ---------- ---------- ------- ---------- ------- Net investment (loss)/income $(137,826) $(190,597) $11,584 $ 40,413 $ 774 ========== ========== ======= ========== ======= Program's interest in net investment $(124,626) $(176,658) $11,481 $39,819 $732 (loss)/income ========== ========== ======= ========== =======
F-20 SCHEDULE I BRISTOL-MYERS SQUIBB COMPANY ---------------------------- SAVINGS AND INVESTMENT PROGRAM ------------------------------ SCHEDULE OF INVESTMENTS ----------------------- DECEMBER 31, 1993 ----------------- ($000 OMITTED) Market Loan Fund Cost Value - - ------------------------------------------------- -------- ------- Participant Loans Receivable, with interest rates ranging from 7.0% to 12.5%, varying maturity dates $26,838 $26,838 S-1 EXHIBIT A CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Prospectus constituting part of the Registration Statement on Form S-8 (No. 33-44788) of Bristol-Myers Squibb Company of our report dated June 8, 1994 appearing on page F-4 of this Form 11-K. /s/ PRICE WATERHOUSE - - -------------------------- PRICE WATERHOUSE New York, New York June 8, 1994 E-1 -----END PRIVACY-ENHANCED MESSAGE-----