-----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, nnWvODdvK57U+gzGE5lhXTbNJEuZ7jCZj/HDm36aHWYaMm/i/sRnIElU+12oIAj0 mjD7DC4TY263pnM4CbaC0w== 0000950149-94-000244.txt : 19941117 0000950149-94-000244.hdr.sgml : 19941117 ACCESSION NUMBER: 0000950149-94-000244 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19941110 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREYERS GRAND ICE CREAM INC CENTRAL INDEX KEY: 0000352305 STANDARD INDUSTRIAL CLASSIFICATION: 2024 IRS NUMBER: 942967523 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-14190 FILM NUMBER: 94558719 BUSINESS ADDRESS: STREET 1: 5929 COLLEGE AVE CITY: OAKLAND STATE: CA ZIP: 94618 BUSINESS PHONE: 5106528187 11-K 1 FORM 11-K FOR THE YEAR ENDED DECEMBER 25, 1993 1 ================================================================================ 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 OR / / TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] Commission file number 0-14190................................................ A. Full title of the plan and the address of the plan, if different from that of the issuer named below: DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: DREYER'S GRAND ICE CREAM, INC. 5929 COLLEGE AVENUE OAKLAND, CA 94618 ================================================================================ 2 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Dreyer's Grand Ice Cream, Inc. Savings Plan Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN Date: November 10, 1994 By: /s/ William C. Collett ------------------------------------ William C. Collett Member of Dreyer's Grand Ice Cream, Inc. Savings Plan Administrative Committee, as Plan Administrator By: /s/ Jeffrey R. Shields ------------------------------------ Jeffrey R. Shields Member of Dreyer's Grand Ice Cream, Inc. Savings Plan Administrative Committee, as Plan Administrator 3 Dreyer's Grand Ice Cream, Inc. Savings Plan Financial Statements and Additional Information at December 31, 1993 and 1992 and for the year ended December 31, 1993 4 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN INDEX TO FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION - - - -------------------------------------------------------------------------------- Page REPORT OF INDEPENDENT ACCOUNTANTS 1-2 FINANCIAL STATEMENTS: Statement of Net Assets Available for Plan Benefits, with Fund Information, at December 31, 1993 and 1992 3-4 Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information, for the year ended December 31, 1993 5 Notes to Financial Statements 6-9 ADDITIONAL INFORMATION: Schedule I - Assets Held for Investment at December 31, 1993 10-16 Schedule V - Series of Transactions During the Year Ended December 31, 1993 in Excess of 5% of the Current Value of Plan Assets at January 1, 1993 17 Note: Schedules II, III and IV are not presented, as they are not applicable. 5 Report of Independent Accountants To the Participants and Administrative Committee of the Dreyer's Grand Ice Cream, Inc. Savings Plan We have audited the accompanying statements of net assets available for plan benefits, with fund information, of the Dreyer's Grand Ice Cream, Inc. Savings Plan (the Plan) as of December 31, 1993 and 1992, and the related statement of changes in net assets available for plan benefits, with fund information, for the year ended December 31, 1993. 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 provides a reasonable basis for our opinion. In our report dated September 26, 1994, we were unable to, and did not, express an opinion on the 1993 and 1992 financial statements because, at the instruction of the plan administrator, we did not perform any auditing procedures with respect to the Plan's investment information certified by the Plan's trustee and summarized in Note 3 of those financial statements. Subsequently, the plan administrator instructed us to perform, and we did perform, an audit of the accompanying financial statements in accordance with generally accepted auditing standards and, accordingly, we are now able to express an opinion on these financial statements. In our opinion, the financial statements referred to in the first paragraph of this report present fairly, in all material respects, the net assets available for plan benefits, with fund information, as of December 31, 1993 and 1992 and the changes in net assets available for plan benefits, with fund information, for the year ended December 31, 1993 in conformity with generally accepted accounting principles. 1 6 To the Participants and Administrative Committee of the Dreyer's Grand Ice Cream, Inc. Savings Plan Page 2 Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in schedules I and V is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by ERISA. The fund information in the statement of net assets available for plan benefits and the statement of changes in net assets available for plan benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and the changes in net assets available for plan benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ PRICE WATERHOUSE LLP _____________________ PRICE WATERHOUSE LLP San Francisco, California November 9, 1994 2 7 Dreyer's Grand Ice Cream, Inc. Savings Plan
Statement of Net Assets Available for Plan Benefits, with Fund Information, at December 31, 1993 - - - ----------------------------------------------------------------------------------------------------- Low Risk Balanced Equity Loan Fund Fund Fund Fund Information Information Information Information Total ASSETS Investments at fair value: Corporate debt instruments $ 650,928 $ 745,020 $ 1,395,948 Common stock $ 500,894 1,955,912 4,969,650 7,426,456 Interest in pooled funds 2,205,100 202,800 193,200 2,601,100 U.S. government securities 826,791 1,329,911 720,554 2,877,256 Participant loans $605,772 605,772 ---------- ---------- ---------- -------- ----------- 3,532,785 4,139,551 6,628,424 605,772 14,906,532 Contributions receivable: Employee 32,383 42,468 54,658 129,509 Employer 186,051 227,080 393,408 806,539 Other receivables 22,524 22,524 Cash 78 43 66 187 ---------- ---------- ---------- -------- ----------- 3,773,821 4,409,142 7,076,556 605,772 15,865,291 LIABILITIES Other liabilities (8,444) (14,080) (22,524) ---------- ---------- ---------- -------- ----------- Net assets available for Plan benefits $3,773,821 $4,400,698 $7,062,476 $605,772 $15,842,767 ========== ========== ========== ======== ===========
See accompanying notes to financial statements. - 3 - 8
DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION, AT DECEMBER 31, 1992 - - - --------------------------------------------------------------------------------------------------------------------------------- Low Risk Balanced Equity Loan Fund Fund Fund Fund Information Information Information Information Total ASSETS Investments at fair value: Corporate debt instruments $ 351,770 $ 403,281 $ 755,051 Common stock $ 470,038 1,957,068 3,582,200 6,009,306 Interest in pooled funds 1,376,800 143,600 132,300 1,652,700 U.S. government securities 973,860 1,176,054 769,442 2,919,356 Participant loans $446,069 446,069 ---------- ---------- ---------- -------- ----------- 2,820,698 3,628,492 4,887,223 446,069 11,782,482 Contributions receivable: Employee 29,428 35,001 48,548 112,977 Employer 173,397 191,823 310,961 676,181 Other receivables 179,782 3,053 7,871 190,706 Cash 131 65 78 274 ---------- ---------- ---------- -------- ----------- 3,203,436 3,858,434 5,254,681 446,069 12,762,620 LIABILITIES Other liabilities 73,346 39,605 11,432 124,383 ---------- ---------- ---------- -------- ----------- Net assets available for Plan benefits $3,203,436 $3,785,088 $5,215,076 $434,637 $12,638,237 ========== ========== ========== ======== ===========
See accompanying notes to financial statements. - 4 - 9 Dreyer's Grand Ice Cream, Inc. Savings Plan
Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information, for the Year Ended December 31, 1993 - - - ------------------------------------------------------------------------------------------------------------------------------------ Low Risk Balanced Equity Loan Fund Fund Fund Fund Information Information Information Information Total ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income: Interest $ 121,350 $ 122,370 $ 110,722 $ 40,576 $ 395,018 Dividends 9,889 38,570 86,915 135,374 Realized and unrealized gains (losses) (20,322) (7,642) 57,774 29,810 ---------- ---------- ---------- -------- ---------- 110,917 153,298 255,411 40,576 560,202 Contributions: Employee 638,271 776,195 1,246,636 2,661,102 Employer 186,051 227,080 393,408 806,539 Employee rollovers from other qualified plans 239,156 47,700 43,109 329,965 ---------- ---------- ---------- -------- ---------- Total additions 1,174,395 1,204,273 1,938,564 40,576 4,357,808 ---------- ---------- ---------- -------- ---------- DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Benefit payments 326,352 330,133 353,165 1,009,650 Administrative expenses 33,718 47,982 61,928 143,628 ---------- ---------- ---------- -------- ----------- Total deduction 360,070 378,115 415,093 1,153,278 ---------- ---------- ---------- -------- ----------- Net increase 814,325 826,158 1,523,471 40,576 3,204,530 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 3,203,436 3,785,088 5,215,076 434,637 12,638,237 Transfers (243,940) (210,548) 323,929 130,559 ---------- ---------- ---------- -------- ----------- End of year $3,773,821 $4,400,698 $7,062,476 $605,772 $15,842,767 ========== ========== ========== ======== ===========
See accompanying notes to financial statements. - 5 - 10 Dreyer's Grand Ice Cream, Inc. Savings Plan Notes to Financial Statements - - - -------------------------------------------------------------------------------- 1. DESCRIPTION OF THE PLAN The following brief description of the Dreyer's Grand Ice Cream, Inc. Savings Plan (the Plan) is provided for general informational purposes only. Participants should refer to the Plan document for more complete information. GENERAL The Plan is a defined contribution profit sharing plan containing a cash or deferred arrangement described in Section 401(k) of the Internal Revenue Code. The Plan benefits participating employees of Dreyer's Grand Ice Cream, Inc. and its subsidiaries (the Company). The Plan is administered by the Dreyer's Grand Ice Cream, Inc. Savings Plan Administrative Committee (the Committee) and all investments and cash are held by Imperial Trust Company (the Trustee). The Wyatt Company provides record keeping and consultation services and an investment manager provides investment advisory services. The Plan became effective January 1, 1983 and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). ELIGIBILITY Individuals who are not employed under the terms of a collective bargaining agreement are eligible to participate in the Plan on the next "entry date" following their commencement date of employment. The entry dates defined by the Plan are January 1 and July 1 of each calendar year. EMPLOYEE CONTRIBUTIONS In order to participate in the Plan, each participant is required to contribute at least 2% of the compensation received from the Company; however, any participant may elect to contribute an additional amount up to 10% of the participant's compensation within the maximum allowable amount permitted under the Internal Revenue Code. At all times, participants will be fully vested in their contributions adjusted for attributed income, gains, losses and expenses. EMPLOYER CONTRIBUTIONS The Plan provides that the Company may make discretionary employer matching contributions, subject to approval by the Company's Board of Directors. Discretionary employer matching contributions are made to participants' accounts equal to a percentage of each eligible participant's employee contribution. For eligible participants who have ten years of service or more as of the last day of the Plan year, the percentage of employee contributions matched is twice that of eligible participants with fewer than ten years of service. An eligible participant is defined as an eligible employee who was employed by the Company during the Plan year or who retired, died or was disabled during the Plan year. - 6 - 11 Dreyer's Grand Ice Cream, Inc. Savings Plan Notes to Financial Statements - - - ------------------------------------------------------------------------------- ROLLOVER CONTRIBUTIONS Subject to the terms of the Plan, the Committee may authorize the Plan trustee to accept from any participant a rollover contribution from another tax-qualified plan, provided the contribution is made within 60 days after receipt of the eligible rollover distribution by the participant from such other tax-qualified plan. Amounts consisting of after-tax employee contributions are not allowed as rollover contributions. The Plan will establish and maintain separate accounts for all rollover contributions. At all times, the participant will be fully vested in his rollover account, adjusted for attributed income, gains, losses and expenses. Cash benefits paid from rollover accounts will be paid in the same manner as other benefits under the Plan. PARTICIPANT ACCOUNT VALUATION During 1993 and 1992, each participant's account was valued as of June 30 and December 31 of each calendar year with the current value as of December 31 used for financial statement purposes. Effective July 1, 1994, each participant's account is valued quarterly as of March 31, June 30, September 30 and December 31. The valuation is based on all contributions, withdrawals, investment income, realized and unrealized gains and losses since the previous valuation date. PLAN BENEFITS Upon retirement, death or permanent disability, participants are entitled to an amount equal to 100% of their salary deferral, rollover and Company accounts. In the event of termination prior to retirement, participants will receive the final balances in their salary deferral and rollover accounts plus the vested portion of the Company account to which they are entitled. A salary deferral account consists of the portion of a participant's account attributable to the participant's employee contributions and the related investment income; a rollover account consists of the portion of a participant's account attributable to the participant's rollover contributions and the related investment income; and a Company account consists of the portion of a participant's account attributable to Company contributions and the related investment income. The Plan has a flexible investment policy in which the participant can choose to invest his or her account balance in one or all of a variety of investment funds. The participants' accounts are credited for the return on their investment in proportion to their investment in the respective fund within the Plan. During 1993 and 1992, the Plan offered three investment options, a low-risk fund, a balanced fund, and an equity fund. Effective July 1, 1994, the Plan offers five investment options, a short-term investment fund, a balanced fund, an equity fund, a Wells Fargo S&P 500 stock fund, and a Dreyer's stock fund. VESTING After completion of two years of service, participants are entitled to twenty percent (20%) of the final balance of their Company account. For each full year of service thereafter, participants vest an additional fifteen percent (15%) of their Company account. A participant earns one year of service for each year commencing on or after January 1, 1976 in which the participant has worked at least 1,000 hours. If a participant's service is less than two years and ends before retirement, death, or permanent disability, the entire Company account will be forfeited. - 7 - 12 Dreyer's Grand Ice Cream, Inc. Savings Plan Notes to Financial Statements - - - -------------------------------------------------------------------------------- PARTICIPANT LOANS The Plan has a participant loan program as allowed by existing Plan provisions. Participants may borrow a portion of their vested accounts, subject to the terms set forth in the Plan and the limitations of the Internal Revenue Code. Participant loans, which bear interest at the prime rate plus 2%, are due within five years and are secured by the participant's interest in the balance of his or her account. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF ACCOUNTING The accompanying financial statements have been prepared using the accrual method of accounting in accordance with generally accepted accounting principles. INVESTMENTS AND INVESTMENT INCOME The Plan's assets are valued at the last quoted sales price on the last business day of the Plan year. Realized gains or losses on investments sold are recorded as the difference between the proceeds received upon sale and the market value of the investments at the beginning of the year or cost if acquired during the year. In accordance with the Plan's policy of stating investments at market value, net unrealized appreciation or depreciation for the period is included in the statement of changes in net assets available for plan benefits in the period during which the market value change occurs. EXPENSES OF THE PLAN The expenses incurred in the administration of the Plan are charged to the Plan by the Trustee if they are not settled within 60 days by the Company. 3. PLAN TERMINATION Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions and to terminate the Plan. In the event the Plan is terminated, participants' accounts shall become nonforfeitable and the net assets shall be allocated to each participant to provide benefits in accordance with the provisions of Section 4044 of ERISA. 4. RECONCILIATION TO FORM 5500 The other receivable and other liability amounts presented in the December 31, 1993 statement of net assets available for plan benefits, with fund information, are combined and presented as other receivables in the Plan's 1993 Form 5500 filing. - 8 - 13 Dreyer's Grand Ice Cream, Inc. Savings Plan Notes to Financial Statements - - - -------------------------------------------------------------------------------- Net assets allocable to terminated employees totaled $42,937 and $44 at December 31, 1993 and 1992, respectively. These amounts have been presented as liabilities of the Plan on the Plan's Form 5500 filing, in accordance with the Form's instructions. 5. TAX STATUS OF THE PLAN During 1986, the Committee received a favorable determination letter from the Internal Revenue Service as to the qualified status of the Plan. The Committee is of the opinion that the Plan, together with certain amendments adopted subsequent to receipt of the determination letter, continues to fulfill the requirements of a qualified Plan and that the trust which forms a part of the Plan is not subject to tax. Accordingly, no provision for federal or state income taxes has been provided. - 9 - 14 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I - - - ---------------------------------------------------------------------------------------------------- Low Risk Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Common Stock - - - ------------ Aflac Corp. Class A 380 $ 11,221 $ 10,830 Albertson's Class A 600 12,563 16,050 Allied Signal Inc. Class A 200 14,528 15,800 American Int'l Group Class A 150 12,882 13,163 Amer. Telephone & Telegraph Class A 300 15,689 15,750 Banc One Corp. Class A 440 17,102 17,215 Bausch & Lomb Class A 300 14,313 15,375 Cambell Soup Company Class A 450 17,048 18,450 Chubb Corporation Class A 150 11,223 11,681 Colgate Palmolive Company Class A 300 14,065 18,713 Consolidated Rail Inc. Class A 300 13,858 20,062 Cooper Tire & Rubber Co. Class A 300 4,500 7,500 Dillard Dept. Stores Class A 450 18,349 17,100 Echlin Incorporated Class A 440 14,558 14,630 Emerson Electric Company Class A 250 12,618 15,063 Ford Motor Company Class A 300 12,171 19,350 General Electric Company Class A 150 11,287 15,731 GTE Corporation Class A 300 9,038 10,500 Hannaford Bros. Co. Class A 400 7,928 8,600 Hanson, PLC, ADR Class A 700 13,261 14,000 Hershey Foods Class A 350 14,587 17,150 Household International Class A 300 11,803 9,787 J. C. Penny Company Class A 350 17,461 18,419 Kimberly Clark Corporation Class A 200 10,250 10,375 Newell Cos Inc. Class A 300 10,538 12,113 PepsiCo Incorporated Class A 400 12,395 16,350 Pitney Bowes Incorporated Class A 400 14,280 16,550 Primerica Corp. (DEL) Class A 400 16,669 15,550 Procter & Gamble Company Class A 250 13,054 14,250 State Str. Boston Corp. Class A 450 11,288 16,875 Telefonos De Mexico Class A 250 15,424 16,875 Torchmark Corp. Class A 250 8,104 11,250 Unifi Inc. Class A 500 12,894 13,437 Walgreen Co. Class A 400 13,882 16,350 ---------- ---------- $ 440,831 $ 500,894 ---------- ---------- Interest in Pooled Funds - - - ------------------------ SEI Liquid Asset Trust Treasury portfolio 2,205,100 $2,205,100 $2,205,100 ---------- ----------
- 10 - 15 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - ------------------------------------------------------------------------------------------------------- Low Risk Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value U.S.Government Securities - - - ------------------------- FFCB Notes 5.100%, 3/10/98 100,000 $ 99,250 $ 100,100 U.S. Treasury Notes 7.625%, 12/31/94 700,000 713,562 726,691 DTD 12/31/90 ---------- ---------- $ 812,812 $ 826,791 ---------- ---------- Low Risk Fund Total $3,458,743 $3,532,785 ========== ==========
- 11 - 16 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - ------------------------------------------------------------------------------------------------------- Balanced Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Corporate Debt Instruments - - - -------------------------- Dillard Dept. Stores Inc. 8.500%, 6/15/96 175,000 $174,016 $189,000 DTD 6/15/91 J. P. Morgan & Co. Inc. 7.625%, 11/15/98 275,000 298,606 298,920 DTD 11/15/91 Merrill Lynch & Co. Inc. 6.750%, 3/15/95 100,000 99,875 102,778 DTD 3/15/92 Phillip Morris Cos. Inc. 7.625%, 2/15/94 60,000 59,625 60,230 DTD 2/15/91 -------- -------- $632,122 $650,928 -------- -------- Common Stock - - - ------------ Aflac Corp. Class A 1,500 $ 44,295 $ 42,750 Albertson's Class A 2,600 55,395 69,550 Allied Signal Inc. Class A 800 58,039 63,200 American Int'l Group Class A 600 51,555 52,650 Amer. Telephone & Telegraph Class A 1,300 68,378 68,250 Banc One Corp. Class A 1,900 71,556 74,338 Bausch & Lomb Class A 1,100 52,581 56,375 Cambell Soup Company Class A 1,700 64,086 69,700 Chubb Corporation Class A 600 44,892 46,725 Colgate Palmolive Company Class A 1,000 44,745 62,375 Consolidated Rail Inc. Class A 1,000 46,195 66,875 Cooper Tire & Rubber Co. Class A 1,000 15,000 25,000 Dillard Department Stores Class A 1,800 70,001 68,400 Echlin Incorporated Class A 1,900 62,799 63,175 Emerson Electric Company Class A 900 46,863 54,225 Ford Motor Company Class A 800 32,456 51,600 General Electric Company Class A 700 51,464 73,412 GTE Corporation Class A 1,000 30,125 35,000 Hannaford Bros. Co. Class A 1,900 37,658 40,850 Hanson, PLC, ADR Class A 3,000 56,835 60,000 Hershey Foods Class A 1,400 57,411 68,600 Household International Class A 1,000 39,343 32,625 J. C. Penny Company Class A 1,400 70,035 73,675 Kimberly Clark Corporation Class A 700 34,917 36,311 Newell Cos. Inc. Class A 1,400 49,175 56,525 PepsiCo Incorporated Class A 1,500 45,884 61,313 Pitney Bowes Incorporated Class A 1,600 48,356 66,200 Primerica Corp. (DEL) Class A 1,600 67,116 62,200 Procter & Gamble Company Class A 1,100 59,268 62,700
- 12 - 17 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - ------------------------------------------------------------------------------------------------------- Balanced Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value State Str. Boston Corp. Class A 1,700 40,273 63,750 Telefonos De Mexico Class A 1,000 61,695 67,500 Torchmark Corp. Class A 1,000 32,416 45,000 Unifi Inc. Class A 2,000 51,857 53,750 Walgreen Co. Class A 1,500 48,425 61,313 ---------- ---------- $1,711,089 $1,955,912 ---------- ---------- Interest in Pooled Funds - - - ------------------------ SEI Liquid Asset Trust Treasury portfolio 202,800 $ 202,800 $ 202,800 ---------- ---------- U.S. Government Securities - - - -------------------------- Fed. Home Loan Bank 5.040%, 8/20/98 200,000 $ 198,500 $ 199,750 DTD 8/20/93 Fed. Nat'l Mtg. Assn. 8.200%, 12/23/96 100,000 100,062 109,250 DTD 12/21/89 FFCB Notes 5.100%, 3/10/98 150,000 148,875 150,150 Internat'l Bk for Recon & Dev 8.590%, 9/15/94 150,000 153,562 155,150 U.S. Treasury Notes 9.000%, 5/15/98 70,000 73,041 80,675 U.S. Treasury Notes 7.250%, 11/15/96 200,000 201,875 214,312 U.S. Treasury Notes 6.375%, 6/30/97 400,000 398,988 420,624 DTD 6/30/92 ---------- ---------- $1,274,903 $1,329,911 ---------- ---------- Balanced Fund Total $3,820,914 $4,139,551 ========== ==========
- 13 - 18 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - ------------------------------------------------------------------------------------------------------- Equity Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Assets Value Corporate Debt Instruments - - - -------------------------- BP Amer. Inc. 9.875%, 3/15/04 200,000 $230,468 $252,066 General Electric Cap. Corp. 8.750%, 5/21/07 150,000 171,540 180,883 GTE Southwest Inc. 6.540%, 12/01/05 200,000 200,000 201,063 Merrill Lynch & Co. Inc. 8.000%, 6/01/07 100,000 111,347 111,008 DTD 6/01/92 -------- -------- $713,355 $745,020 -------- -------- Common Stock - - - ------------ Aflac Corp. Class A 3,600 $106,308 $102,600 Albertson's Class A 6,400 144,496 171,200 Allied Signal Inc. Class A 2,000 145,203 158,000 American Int'l Group Class A 2,000 173,869 175,500 Amer. Telephone & Telegraph Class A 3,100 165,763 162,750 Banc One Corp. Class A 4,400 164,295 172,150 Bausch & Lomb Class A 3,200 156,381 164,000 Cambell Soup Company Class A 4,200 163,315 172,200 Chubb Corporation Class A 1,600 122,312 124,600 Colgate Palmolive Company Class A 2,700 140,901 168,412 Consolidated Rail Inc. Class A 2,500 119,338 167,188 Cooper Tire & Rubber Co. Class A 2,300 34,500 57,500 Dillard Dept. Stores Class A 4,100 156,199 155,800 Echlin Incorporated Class A 4,600 152,069 152,950 Emerson Electric Company Class A 2,600 136,232 156,650 Ford Motor Company Class A 2,500 100,357 161,250 General Electric Company Class A 1,700 138,716 178,287 GTE Corporation Class A 3,300 110,020 115,500 Hannaford Bros. Co. Class A 4,400 88,608 94,600 Hanson, PLC, ADR Class A 8,000 151,560 160,000 Hershey Foods Class A 3,400 149,888 166,600 Household International Class A 3,000 118,029 97,875 J. C. Penny Company Class A 3,400 170,187 178,925 Kimberly Clark Corporation Class A 1,700 91,537 88,188 Newell Cos. Inc. Class A 2,500 87,796 100,937 PepsiCo Incorporated Class A 3,900 132,154 159,413 Pitney Bowes Incorporated Class A 4,000 135,310 165,500 Primerica Corp. (DEL) Class A 4,000 168,012 155,500
- 14 - 19 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - --------------------------------------------------------------------------------------------------- Equity Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Procter & Gamble Company Class A 2,600 132,341 148,200 State Str. Boston Corp. Class A 4,100 114,447 153,750 Telefonos De Mexico Class A 2,500 154,238 168,750 Torchmark Corp. Class A 2,600 111,615 117,000 Unifi Inc. Class A 5,000 131,823 134,375 Walgreen Co. Class A 4,000 137,697 163,500 ---------- ---------- $4,505,516 $4,969,650 ---------- ---------- Interest in Pooled Funds - - - ------------------------ SEI Liquid Asset Trust Treasury portfolio 193,200 $ 193,200 $ 193,200 ---------- ---------- U.S. Government Securities - - - -------------------------- Fed. Home Loan Mtg. 6.550%, 4/02/03 100,000 $ 99,844 $ 101,500 U.S. Treasury Bonds 9.250%, 2/15/16 225,000 240,679 295,944 U.S. Treasury Bonds 10.750%, 8/15/05 150,000 177,516 209,297 U.S. Treasury Notes 7.875%, 8/15/01 100,000 107,313 113,813 ---------- ---------- $ 625,352 $ 720,554 ---------- ---------- Equity Fund Total $6,037,423 $6,628,424 ---------- ----------
- 15 - 20 Dreyer's Grand Ice Cream, Inc. Savings Plan
Assets Held for Investment at December 31, 1993 Schedule I (continued) - - - ------------------------------------------------------------------------------------------------------- Loan Fund Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Participant loans 8.0% to 10.5%, due 5/28/96 through 12/01/98 -- $ 605,772 $ 605,772 ----------- ----------- Loan Fund Total $ 605,772 $ 605,772 =========== =========== Total Assets Held for Investment at December 31, 1993 $13,922,852 $14,906,532 =========== ===========
- 16 - 21 Dreyer's Grand Ice Cream, Inc. Savings Plan
Series of Transactions During the Year Ended December 31, 1993 in Excess of 5% of the Current Value of Plan Assets at January 1, 1993 Schedule V - - - --------------------------------------------------------------------------------------------------------------------------------- CURRENT NUMBER VALUE ON REALIZED PARTY DESCRIPTION OF PURCHASE SELLING ASSET TRANSACTION GAIN/ INVOLVED OF ASSET TRANSACTIONS PRICE PRICE DISPOSED DATE (LOSS) Imperial Trust Co. SEI Liquid Asset Trust - treasury 289 $8,016,900 -- -- $8,016,900 $ -- -- Imperial Trust Co. SEI Liquid Asset Trust - treasury 215 -- $7,042,700 $7,042,700 7,042,700
- 17 - 22 INDEX TO EXHIBITS Exhibit Number Description - - - ------- --------------------------- 23 Consent of Price Waterhouse EX-23 2 CONSENT OF PRICE WATERHOUSE 1 EXHIBIT 23 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 33-_________) of Dreyer's Grand Ice Cream, Inc. of our report dated November 9, 1994, which appears on pages 1 and 2 of this Form 11-K. /s/ PRICE WATERHOUSE LLP - - - ------------------------- PRICE WATERHOUSE LLP San Francisco, California November 10, 1994 -----END PRIVACY-ENHANCED MESSAGE-----