-----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, KQ9Ro3C1JiPh+kILBXa5IrDDKGzWmiV6J2pvZ1ooLBGwVjcwxmzCfLJMpuzP/fYD JYmpIE4INOUvJ/F6PodyeQ== 0000912057-95-005084.txt : 199507030000912057-95-005084.hdr.sgml : 19950703 ACCESSION NUMBER: 0000912057-95-005084 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950630 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: HBO & CO CENTRAL INDEX KEY: 0000310377 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 370986839 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09900 FILM NUMBER: 95551438 BUSINESS ADDRESS: STREET 1: 301 PERIMETER CTR N CITY: ATLANTA STATE: GA ZIP: 30346 BUSINESS PHONE: 4043936000 MAIL ADDRESS: STREET 1: 301 PERIMETER CTR N CITY: ATLANTA STATE: GA ZIP: 30346 11-K 1 11-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 11-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED) For the fiscal year ended December 31, 1994 OR [ ] 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 33-39034 A. Full title of the plan and address of the plan, if different from that of the issuer named below: HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: HBO & Company 301 Perimeter Center North Atlanta, Georgia 30346 (404) 393-6000 Page 1 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Financial Statements with Supplementary Schedules December 31, 1994 and 1993 Page 2 of 21 Pages [SNYDER, CAMP, STEWART & CO. LETTERHEAD] INDEPENDENT AUDITORS' REPORT Administrative Committee HBO & Company Profit Sharing and Savings Plan Atlanta, Georgia We have audited the accompanying statement of net assets available for benefits of HBO & Company Profit Sharing and Savings Plan as of December 31, 1994, and the related statement of changes in net assets available for benefits for the year then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of HBO & Company Profit Sharing and Savings Plan as of December 31, 1993 were audited by other auditors whose report dated June 2, 1994, expressed an unqualified opinion on those statements. We conducted our audit in accordance with generally accepted auditing standards. Those standards 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. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of HBO & Company Profit Sharing and Savings Plan at December 31, 1994, and the changes in net assets available for benefits for the year then ended, in conformity with generally accepted accounting principles. Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The supplemental schedules of investments, plan assets and liabilities by investment program, and transactions or series of transactions in excess of 5% of the current value of plan assets for the year ended December 31, 1994, are presented for the purpose of additional analysis and are not a required part of the financial statements but are supplementary information required by the Securities and Exchange Commission and the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. /s/ Snyder, Camp, Stewart & Co. June 7, 1995 Page 3 of 21 Pages [PITTS COMPANY LETTERHEAD] REPORT OF INDEPENDENT AUDITORS Administrative Committee HBO & Company Profit Sharing and Savings Plan We have audited the accompanying statement of financial condition of HBO & Company Profit Sharing and Savings Plan (the "Plan") as of December 31, 1993, and the related statements of income and changes in plan equity for the year then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards 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. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of HBO & Company Profit Sharing and Savings Plan at December 31, 1993, and the income and changes in plan equity for the year then ended, in conformity with generally accepted accounting principles. Our audit was performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of investments, plan assets and liabilities by investment program, and transactions or series of transactions in excess of 5% of the current value of plan assets for the year ended December 31, 1993, are presented for purposes of complying with the applicable accounting regulations of the Securities and Exchange Commission and the Department of Labor's Rules and Regulations for reporting and disclosure under the Employee Retirement Income Security Act of 1974, and are not a required part of the financial statements. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. /s/ Pitts Company PITTS COMPANY Atlanta, Georgia June 2, 1994 Page 4 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Statements of Net Assets Available for Benefits December 31, 1994 and 1993
1994 1993 ---- ---- Assets: Investments, at fair value (notes 1 and 8): HBO & Company common stock $ 8,332,093 $ 5,349,597 Fidelity Magellan Fund 13,941,836 12,510,924 Fidelity Growth and Income Fund 9,632,962 7,879,678 Fidelity Retirement Money Market Fund 5,439,402 5,265,387 Fidelity Asset Manager 2,103,614 1,659,616 Fidelity Managed Income Fund 656,019 431,845 Fidelity Intermediate Bond Fund 678,519 566,579 ----------- ----------- Total investments 40,784,445 33,663,626 Contributions receivable from employer company 189,770 145,268 Contributions receivable from employees 466,261 340,208 Loans receivable from employees 555,268 417,655 Accrued investment income 9,696 8,722 ----------- ----------- Total assets 42,005,440 34,575,479 Liabilities: Benefits payable 864,044 38,456 ----------- ----------- Net assets available for benefits $41,141,396 $34,537,023 =========== ===========
See accompanying notes to financial statements. Page 5 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Statements of Changes in Net Assets Available for Benefits For the Years Ended December 31, 1994 and 1993
1994 1993 ---- ---- Additions to net assets attributed to: Investment income $ 1,604,150 $ 1,895,624 Unrealized appreciation in fair value of investments (note 8) 134,746 3,632,275 Realized gain on sale of investments (note 8) 1,079,196 949,886 ---------- ---------- Net increase from investment activities 2,818,092 6,477,785 Contributions: Employer 2,270,368 1,779,663 Employees 5,958,223 4,198,408 Interest income on loans to employees 33,049 2,746 ---------- ---------- Total additions 11,079,732 12,458,602 Deductions from net assets attributed to: Benefits paid directly to participants (4,475,359) (2,126,040) ---------- ---------- Net increase 6,604,373 10,332,562 Net assets available for benefits: Beginning of year 34,537,023 24,204,461 ----------- ----------- End of year $41,141,396 $34,537,023 =========== ===========
See accompanying notes to financial statements. Page 6 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements December 31, 1994 and 1993 (1) DESCRIPTION OF PLAN The following description of HBO & Company Profit Sharing and Savings Plan (the "Plan") provides only general information. The Plan agreement should be referred to for a more complete description of the Plan's provisions. The Plan is a defined contribution plan which covers all employees of HBO & Company and HBO & Company of Georgia (jointly referred to herein as the "Company") who have completed six months of service (12 months for pre-1994 plan years) and have attained age 21 as of a Plan entry date. The Plan's entry dates are January 1, April 1, July 1, and October 1. Each eligible employee can elect to defer a percentage of pretax compensation, as defined, of from one to a maximum of fifteen percent and may contribute such amounts to the Plan. Such deferral elections must be made in whole percentages. If necessary, the salary deferral contributions allowed by a participant will be reduced by the Plan's Administrative Committee (see note 3) so that such contributions do not cause the Plan to be discriminatory or exceed the limitations of the Internal Revenue Code. The Company also may contribute to the Plan at the election of the Board of Directors through matching contributions and/or discretionary contributions. Each participant's share of Company discretionary contributions is related to the participant's compensation, as defined. Company contributions may not exceed the maximum allowable as a deduction as defined by the Internal Revenue Code. During 1994 and 1993, the Company contributed $.75 for each $1 contributed by employees; however, this Company matching contribution was only applicable for employee contributions of up to 4% of pretax compensation. No Company discretionary contribution was authorized for the years ended December 31, 1994 and 1993. (Continued) Page 7 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements, Continued December 31, 1994 and 1993 (1) DESCRIPTION OF PLAN, CONTINUED Participants are 100% vested in their pretax compensation contributions and earnings thereon at all times. Company matching and discretionary contributions credited to a participant's account and earnings thereon vest on a graded basis. A participant becomes 20% vested in his/her Company account after three years of service and an additional 20% becomes vested in each of the following four years until a participant fully vests after seven years of service (see Note (4) for change in vesting schedule effective January 1, 1995). Further, a participant is automatically 100% vested without regard to years of service in the event of termination due to death, disability, or attainment of age 65. Allocation of Plan earnings/losses is based on a participant's account balance in the respective fund. Forfeitures of terminated participants' nonvested accounts are allocated among the remaining participants in the Plan at the end of the plan year as if the forfeitures are additional matching or discretionary contributions, as designated by the Administrative Committee. Participants have the option to direct the investment of their accounts between seven investment funds: the Fidelity Retirement Money Market Fund, the Fidelity Managed Income Fund, the Fidelity Intermediate Bond Fund, the Fidelity Growth and Income Fund, the Fidelity Magellan Fund, the Fidelity Asset Manager Fund, and HBO & Company Common Stock Fund. Upon termination, participants under age 65 may elect to (1) delay the distribution of his/her accounts or (2) receive his/her vested benefits, generally in a lump sum distribution. The full value of benefits are payable upon normal or postponed retirement or to beneficiaries upon death of the participant. The full value of benefits are also payable upon total or permanent disability for participants with account balances totaling less than or equal to $3,500 and upon request or upon obtaining age 65 for participants with account balances totaling more than $3,500. Under a provision of the Plan, the Company, through actions of its Board of Directors, reserves the right to terminate the Plan. If the Plan is terminated, each participant shall become fully vested as of the termination date. (Continued) Page 8 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements, Continued December 31, 1994 and 1993 (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting records of the Plan are maintained on the accrual basis. HBO & Company common stock and investment funds held for investment by the Plan are stated at quoted market values from independent published sources. The change in the difference between current value and the cost of the investments is reflected in the statement of changes in net assets available for benefits as unrealized appreciation (depreciation) in fair value of investments. Realized gain (loss) on sale of investments is the difference between the proceeds received and the average cost of investments sold. The Department of Labor requires that realized and unrealized gains/losses on Form 5500 be calculated using a revalued (annually) cost basis rather than the historical cost basis, which is in accordance with generally accepted accounting principles ("GAAP"). For this reason, the financial statements prepared in accordance with GAAP differ from the financial information included in the Form 5500. Additionally, the Form 5500 classifies the income from the various investment funds differently than the financial statements prepared in accordance with GAAP. Earnings from interest and dividends per Form 5500 are for the HBO & Company common stock dividends and the Fidelity Retirement Money Market Fund interest only. The interest earnings from the remaining Fidelity funds are included on Form 5500 in the net investment gain (loss) along with the realized and unrealized gains/losses for those funds. The realized and unrealized gains/losses on Form 5500 is for the HBO & Company common stock only. There is no effect on net assets available for benefits for these differences. (3) ADMINISTRATION The Company's Employee Benefits Administrative Committee is the Plan administrator. Fidelity is the Trustee, with custodial responsibility for the Plan's assets. The Plan is liable for all administrative expenses not paid by the Company. At the direction of the Administrative Committee, the Plan's administrative expenses for 1994 and 1993 were paid by the Company. (Continued) Page 9 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements, Continued December 31, 1994 and 1993 (4) PLAN AMENDMENTS AND RESTATEMENT During 1994, the Plan was amended once and restated. The following summarizes these changes: . Effective July 6, 1994, the Plan was amended to reflect an accelerated vesting schedule for all employees with service on or after January 1, 1995. A participant becomes 20% vested in his/her Company account after one year of service and an additional 20% becomes vested in each of the following four years until a participant fully vests after five years of service. . Effective December 16, 1994, the Plan was restated to incorporate all amendments since the previous restatement on June 1, 1993. As part of this process, cash compensation was redefined and the compensation cap was revised from $200,000 to $150,000. (5) INCOME TAX STATUS The Plan is intended to be qualified under the Internal Revenue Code (the "IRC"). A favorable ruling was obtained from the Internal Revenue Service (the "IRS") as to the tax exempt status of the Plan in November 1988. As the Plan was amended and restated as of December 16, 1994, the Plan's Administrative Committee has applied to the IRS for qualification under the IRC, requesting exemption from tax under present income tax laws. As such, employees defer paying income taxes on their before tax contributions, Company contributions, and earnings until amounts are withdrawn from the Plan. The Administrative Committee is not aware of any course of action or series of events that have occurred that might disqualify the Plan from qualification under the IRC. However, the Plan's qualified status will not be determined until the IRS rules on the Administrative Committee's request, and the Company is willing to make any changes in the Plan description requested by the IRS as a condition to its issuing a favorable determination letter. (6) TRANSACTIONS WITH PARTIES-IN-INTEREST During the year ended December 31, 1994, the Plan purchased 174,215 shares of the common stock of HBO & Company, the Plan sponsor, for $1,918,526, and sold 48,122 shares of the common stock of HBO & Company for $1,668,234 in accordance with the terms of the Plan. During the year ended December 31, 1993, the Plan purchased 39,826 shares of the common stock of HBO & Company, the Plan sponsor, for $1,024,475, and sold 48,061 shares of the common stock of HBO & Company for $1,530,608 in accordance with the terms of the Plan. (7) INCOME AND CHANGES IN PLAN EQUITY The Plan provides for separate investment funds for participants as described in note 1 to the financial statements. The following pages summarize the income and changes in net assets available for benefits for each fund for the years ended December 31, 1994 and 1993. (Continued) Page 10 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Changes in Net Assets Available for Benefits For the Year Ended December 31, 1994
HBO & Fidelity Fidelity Fidelity Fidelity Fidelity Company Fidelity Growth & Retirement Asset Managed Intermediate Common Magellan Income Money Mkt Manager Income Bond Stock Fund Fund Fund Fund Fund Fund Total ------- -------- -------- ---------- -------- -------- ------------ ----- Additions to net assets attributed to: Investment income $ 33,559 $ 518,519 $ 680,070 $ 221,185 $ 78,386 $ 31,526 $ 40,905 $ 1,604,150 Unrealized appreciation (depreciation) in fair value of investments 1,685,329 (750,568) (523,979) - (232,835) - (43,201) 134,746 Realized gain (loss) on sale of investments 1,046,875 (8,635) 46,594 - 3,729 - (9,367) 1,079,196 ---------- ---------- --------- ---------- ---------- -------- -------- ----------- Net increase (decrease) from investment activities 2,765,763 (240,684) 202,685 221,185 (150,720) 31,526 (11,663) 2,818,092 Contributions: Employer 317,479 892,316 594,766 151,163 205,307 44,215 65,122 2,270,368 Employees 527,935 2,125,978 1,625,354 744,298 580,439 140,957 213,262 5,958,223 Interest income on loans to employees 8,863 8,551 5,887 6,432 1,568 1,191 557 33,049 ---------- ---------- --------- ---------- ---------- -------- -------- ----------- Total additions 3,620,040 2,786,161 2,428,692 1,123,078 636,594 217,889 267,278 11,079,732 Deductions from net assets attributed to: Benefits expense (537,300) (1,475,636) (913,536) (1,262,399) (196,948) (35,210) (54,330) (4,475,359) Interfund transfers (300,279) (173,667) 178,305 271,227 53,693 52,544 (81,823) - ---------- ---------- --------- ---------- ---------- -------- -------- ----------- Net increase 2,782,461 1,136,858 1,693,461 131,906 493,339 235,223 131,125 6,604,373 Net assets available for benefits: Beginning of year 5,436,405 12,760,584 8,084,361 5,422,862 1,790,822 456,668 585,321 34,537,023 ---------- ---------- --------- ---------- ---------- -------- -------- ----------- End of year $8,218,866 $13,897,442 $9,777,822 $5,554,768 $2,284,161 $691,891 $716,446 $41,141,396 ========== =========== ========== ========== ========== ======== ======== ===========
Page 11 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Changes in Net Assets Available for Benefits For the Year Ended December 31, 1994
HBO & Fidelity Fidelity Fidelity Fidelity Fidelity Company Fidelity Growth & Retirement Asset Managed Intermediate Common Magellan Income Money Mkt Manager Income Bond Stock Fund Fund Fund Fund Fund Fund Total ------- -------- -------- ---------- -------- -------- ------------- ----- Additions to net assets attributed to: Investment income $ 39,856 $ 1,118,061 $ 426,625 $ 163,065 $ 84,411 $ 27,593 $ 36,013 $ 1,895,624 Unrealized appreciation (depreciation) in fair value of investment 1,813,067 1,010,045 702,027 - 99,954 - 7,182 3,632,275 Realized gain (loss) on sale of investments 836,000 47,242 48,091 - 13,548 - 5,005 949,886 ---------- ---------- ---------- ---------- ---------- -------- -------- ---------- Net increase (decrease) from investment activities 2,688,923 2,175,348 1,176,743 163,065 197,913 27,593 48,200 6,477,785 Contributions: Employer 192,550 700,550 505,452 245,712 78,003 23,067 34,329 1,779,663 Employees 272,827 1,538,445 1,182,992 767,176 223,333 80,422 133,213 4,198,408 Interest income on loans to employees 732 587 483 644 63 212 25 2,746 ---------- ---------- ---------- ---------- ---------- -------- -------- ---------- Total additions 3,155,032 4,414,930 2,865,670 1,176,597 499,312 131,294 215,767 12,458,602 Deductions from net assets attributed to: Benefits expense (144,653) (632,283) (610,435) (506,185) (132,279) (32,227) (67,978) (2,126,040) Interfund transfers (812,531) 524,384 240,594 (1,060,958) 1,422,359 (353,800) 39,952 - ---------- ---------- ---------- ---------- ---------- -------- -------- ---------- Net increase (decrease) 2,197,848 4,307,031 2,495,829 (390,546) 1,789,392 (254,733) 187,741 10,332,562 Net assets available for benefits: Beginning of year 3,238,557 8,453,553 5,588,532 5,813,408 1,430 711,401 397,580 24,204,461 ---------- ---------- ---------- ---------- ---------- -------- -------- ---------- End of year $5,436,405 $12,760,584 $8,084,361 $5,422,862 $1,790,822 $456,668 $585,321 $34,537,023 ========== =========== ========== ========== ========== ======== ======== ===========
Page 12 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements, Continued December 31, 1994 and 1993 (8) INVESTMENTS During 1994 and 1993 the Plan's investments (including investments bought and sold as well as held during the year) appreciated (depreciated) in fair value as follows:
Net Appreciation (Depreciation) Fair Value in Fair Value at End During Year of Year -------------- ---------- Year ended December 31, 1994: Fair value as determined by quoted market price: HBO & Company Common Stock $ 2,732,204 $ 8,332,093 Fidelity Magellan Fund (759,203) 13,941,836 Fidelity Growth and Income Fund (477,385) 9,632,962 Fidelity Retirement Money Market Fund - 5,439,402 Fidelity Asset Manager Fund (229,106) 2,103,614 Fidelity Managed Income Fund - 656,019 Fidelity Intermediate Bond Fund (52,568) 678,519 ----------- ----------- $ 1,213,942 $40,784,445 =========== =========== Year ended December 31, 1993: Fair value as determined by quoted market price: HBO & Company Common Stock $ 2,649,066 $ 5,349,597 Fidelity Magellan Fund 1,057,287 12,510,924 Fidelity Growth and Income Fund 750,118 7,879,678 Fidelity Retirement Money Market Fund - 5,265,387 Fidelity Asset Manager Fund 113,503 1,659,616 Fidelity Managed Income Fund - 431,845 Fidelity Intermediate Bond Fund 12,187 566,579 ----------- ----------- $ 4,582,161 $33,663,626 =========== ===========
The current value of HBO & Company common stock, Fidelity Magellan Fund, Fidelity Growth and Income Fund and Fidelity Retirement Money Market Fund held for investment at December 31, 1993 was $5,349,597, $12,510,924, $7,879,678, and $5,265,387,respectively, each of which represents an investment greater than 5% of the Plan's net assets. (Continued) Page 13 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Notes to Financial Statements, Continued December 31, 1994 and 1993 (8) INVESTMENTS, CONTINUED The realized gain on the sale of investments during the years ended December 31, 1994 and 1993 was determined as follows:
1994 1993 ---- ---- Aggregate proceeds $ 8,984,898 $ 7,950,537 Aggregate cost (7,905,702) (7,000,651) ----------- ----------- Realized gain $ 1,079,196 $ 949,886 =========== =========== During 1994 and 1993, the balance of unrealized appreciation (depreciation) in the fair value of investments changed as follows: Balance, December 31, 1992 $ 1,925,787 Current unrealized appreciation of investments, net of realized gains (losses) 3,632,275 ----------- Balance, December 31, 1993 5,558,062 Current unrealized appreciation of investments, net of realized gains (losses) 134,746 ----------- Balance, December 31, 1994 $ 5,692,808 ===========
Page 14 of 21 Pages Supplementary Information Page 15 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Schedule I - Investments December 31, 1994
Number of Identity Shares or Current of Party Involved Description of Assets Units Cost Value - ----------------- --------------------- --------- ---- ------- FIDELITY INVESTMENTS Fidelity Magellan Fund 208,710 $ 13,336,490 $ 13,941,835 Fidelity Growth & Income Fund 456,755 9,709,558 9,632,962 Fidelity Retirement Money Market Fund 5,439,402 5,439,402 5,439,402 Fidelity Asset Manager Fund 152,105 2,236,495 2,103,614 Fidelity Managed Income Fund 656,020 656,020 656,020 Fidelity Intermediate Bond Fund 69,025 715,768 678,519 ------------ ----------- 32,093,733 32,452,352 COMPANY STOCK FUND HBO & Company Common Stock 242,388 2,997,904 8,332,093 ------------ ------------ Total investments held $ 35,091,637 $ 40,784,445 ============ ============
December 31, 1993
Number of Identity Shares or Current of Party Involved Description of Assets Units Cost Value - ----------------- --------------------- --------- ---- ------- FIDELITY INVESTMENTS Fidelity Magellan Fund 176,583 $ 11,155,011 $ 12,510,924 Fidelity Growth & Income Fund 354,621 7,432,295 7,879,678 Fidelity Retirement Money Market Fund 5,265,387 5,265,387 5,265,387 Fidelity Asset Manager Fund 107,767 1,559,662 1,659,616 Fidelity Managed Income Fund 431,845 431,845 431,845 Fidelity Intermediate Bond Fund 52,558 560,627 566,579 ------------ ------------ 26,404,827 28,314,029 COMPANY STOCK FUND HBO & Company Common Stock 116,296 1,700,737 5,349,597 ------------ ------------ Total investments held $ 28,105,564 $ 33,663,626 ============ ============
Page 16 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Schedule II - Plan Assets and Liabilities by Investment Program
HBO & Fidelity Fidelity Fidelity Fidelity Fidelity Company Fidelity Growth & Retirement Asset Managed Intermediate Common Magellan Income Money Mkt Manager Income Bond Stock Fund Fund Fund Fund Fund Fund Total ------- -------- --------- ---------- -------- -------- ------------ ----- DECEMBER 31, 1994 Assets: Investments at fair value $8,332,093 $13,941,835 $9,632,962 $5,439,402 $2,103,614 $656,020 $678,519 $40,784,445 Contributions receivable from employer company 28,730 67,819 45,012 19,135 18,617 4,195 6,262 189,770 Contributions receivable from employees 48,065 161,823 119,945 49,067 53,408 13,554 20,399 466,261 Loans receivable from employees 81,974 98,024 120,401 106,466 113,211 19,386 15,806 555,268 Accrued investment income 9,696 - - - - - - 9,696 ---------- ----------- ---------- ---------- ---------- -------- -------- ----------- Total assets 8,500,558 14,269,501 9,918,320 5,614,070 2,288,850 693,155 720,986 42,005,440 Liabilities: Benefits payable 281,692 372,059 140,498 59,302 4,689 1,264 4,540 864,044 ---------- ----------- ---------- ---------- ---------- -------- -------- ----------- Net assets available for benefits $8,218,866 $13,897,442 $9,777,822 $5,554,768 $2,284,161 $691,891 $716,446 $41,141,396 ========== =========== ========== ========== ========== ======== ======== =========== DECEMBER 31, 1993 Assets: Investments at fair value $5,349,597 $12,510,924 $7,879,678 $5,265,387 $1,659,616 $431,845 $566,579 $33,663,626 Contributions receivable from employer company 15,800 55,972 38,459 22,137 8,362 1,683 2,855 145,268 Contributions receivable from employees 21,309 142,377 93,340 49,745 20,824 4,660 7,953 340,208 Loans receivable from employees 53,558 62,192 79,450 94,021 102,020 18,480 7,934 417,655 Accrued investment income 8,722 - - - - - - 8,722 ---------- ----------- ---------- ---------- ---------- -------- -------- ----------- Total assets 5,448,986 12,771,465 8,090,927 5,431,290 1,790,822 456,668 585,321 34,575,479 Liabilities: Benefits payable 12,581 10,881 6,566 8,428 - - - 38,456 ---------- ----------- ---------- ---------- ---------- -------- -------- ----------- Net assets available for benefits $5,436,405 $12,760,584 $8,084,361 $5,422,862 $1,790,822 $456,668 $585,321 $34,537,023 ========== =========== ========== ========== ========== ======== ======== ===========
Page 17 of 21 Pages HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN Transactions or Series of Transactions in Excess of Five Percent of the Current Value of Plan Assets
Current Value Number of Cost of Assets On Net Identity of Description Number of Shares or Purchase Selling of Transaction Gain Party Involved of Assets Transactions Units Price Price Assets Date (Loss) - -------------- ----------- ------------ --------- -------- ------- ------ -------------- ------ CATEGORY (III) - A SERIES OF TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS: DECEMBER 31, 1994 HBO & Company Common Stock Purchases 81 174,215 $1,918,526 $1,918,526 $1,918,526 Sales 54 48,122 $1,668,234 621,359 1,668,234 $1,046,875 Fidelity Magellan Purchases 157 63,924 4,369,898 4,369,898 4,369,898 Sales 99 31,797 2,179,784 2,188,419 2,179,784 (8,635) Fidelity Growth & Income Fund Purchases 151 169,114 3,702,828 3,702,828 3,702,828 Sales 92 66,980 1,472,160 1,425,566 1,472,160 46,594 Fidelity Retirement Money Mkt Fund Purchases 135 2,521,516 2,521,516 2,521,516 2,521,516 Sales 118 2,347,500 2,347,500 2,347,500 2,347,500 - Fidelity Asset Manager Fund Purchases 113 96,224 1,433,535 1,433,535 1,433,535 Sales 59 51,886 760,430 756,702 760,430 3,728 DECEMBER 31, 1993 HBO & Company Common Stock Purchases 70 39,826 $1,024,475 $1,024,475 $1,024,475 Sales 47 48,061 $1,530,608 694,608 1,530,608 $836,000 Fidelity Magellan Purchases 160 67,382 4,717,740 4,717,740 4,717,740 Sales 81 22,661 1,572,736 1,525,494 1,572,736 47,242 Fidelity Growth & Income Fund Purchases 145 133,439 2,871,769 2,871,769 2,871,769 Sales 86 56,602 1,217,338 1,169,247 1,217,338 48,091 Fidelity Retirement Money Mkt Fund Purchases 149 1,924,889 1,924,889 1,924,889 1,924,889 Sales 143 2,388,991 2,388,991 2,388,991 2,388,991 - Fidelity Asset Manager Fund Purchases 120 129,154 1,857,174 1,857,174 1,857,174 Sales 21 21,387 311,060 297,512 311,060 13,548
Page 18 of 21 Pages SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. HBO & COMPANY PROFIT SHARING AND SAVINGS PLAN By: /s/ Jay P. Gilbertson --------------------------- JAY P. GILBERTSON By: /s/ Michael L. Kappel --------------------------- MICHAEL L. KAPPEL By: /s/ E. Christine Rumsey --------------------------- E. CHRISTINE RUMSEY DATE: June 26, 1995 (As Members of the Committee ----------------------------- appointed under and pursuant to the HBO & Company Profit Sharing and Savings Plan) Page 19 of 21 Pages EX-24.A 2 EXHIBIT 24(A) EXHIBIT 24(a) CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-39034) pertaining to the HBO & Company Profit Sharing and Savings Plan of our report dated June 7, 1995, with respect to the financial statements and schedules of the HBO & Company Profit Sharing and Savings Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1994. /s/ Snyder, Camp, Stewart & Co. ---------------------------------- SNYDER, CAMP, STEWART & CO. Atlanta, Georgia June 26, 1995 Page 20 of 21 Pages EXHIBIT 24(a) CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-39034) pertaining to the HBO & Company Profit Sharing and Savings Plan of our report dated June 2, 1994, with respect to the financial statements and schedules of the HBO & Company Profit Sharing and Savings Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1993. Atlanta, Georgia /s/ Pitts Company June 23, 1995 PITTS COMPANY Page 21 of 21 Pages -----END PRIVACY-ENHANCED MESSAGE-----