-----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, OkZXXDM+GODEUI3QLvxwIcnL0PpO/JijtHRMoLObIkmt7OvPRngjVup9VI3N6gZk uDjDWTj7j8H5rXKCNz4RUQ== 0000950149-95-000388.txt : 199506300000950149-95-000388.hdr.sgml : 19950630 ACCESSION NUMBER: 0000950149-95-000388 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950629 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREYERS GRAND ICE CREAM INC CENTRAL INDEX KEY: 0000352305 STANDARD INDUSTRIAL CLASSIFICATION: ICE CREAM & FROZEN DESSERTS [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: 95550978 BUSINESS ADDRESS: STREET 1: 5929 COLLEGE AVE CITY: OAKLAND STATE: CA ZIP: 94618 BUSINESS PHONE: 5106528187 11-K 1 ANNUAL REPORT FOR THE FISCAL YEAR ENDED 12-31-94 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, 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 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 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN INDEX TO FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION
PAGE REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS: Statement of Net Assets Available for Plan Benefits, with Fund Information, at December 31, 1994 and 1993 2 - 3 Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information, at December 31, 1994 and 1993 4 - 5 Notes to Financial Statements 6 - 9 ADDITIONAL INFORMATION: Schedule I - Assets Held for Investment at December 31, 1994 10 - 17 Schedule V - Series of Transactions During the Year Ended December 31, 1994 in Excess of 5% of the Current Value of Plan Assets at December 31, 1993 18 Note: Schedules II, III and IV are not presented as they are not applicable.
3 REPORT OF INDEPENDENT ACCOUNTANTS To the Participants and Administrative Committee of the Dreyer's Grand Ice Cream, Inc. Savings Plan In our opinion, the accompanying statements of net assets available for plan benefits, with fund information, and the related statements of changes in net assets available for plan benefits, with fund information, present fairly, in all material respects, the net assets available for plan benefits, with fund information, of the Dreyer's Grand Ice Cream, Inc. Savings Plan (the Plan) at December 31, 1994 and 1993, and the changes in net assets available for plan benefits, with fund information, for the years then ended, in conformity with generally accepted accounting principles. 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 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 management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were performed 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 changes in net assets available for plan benefits of each fund. Schedules I and V and the fund information have been subjected to the auditing procedures applied in the audits 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 June 19, 1995 4 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION, AT DECEMBER 31, 1994
Short Term Balanced Equity Stock Wells Fargo Loan Fund Fund Fund Fund Fund Fund Total ASSETS Investments at fair value: Corporate debt instruments $ $ 73,532 $ 606,193 $ $ $ $ 679,725 Common stock 1,376,588 4,419,050 720,225 6,515,863 Interest in pooled funds 315,700 167,100 464,600 39,500 4,026,180 5,013,080 U.S. government securities 2,341,105 1,308,393 551,860 4,201,358 Participant loans 899,486 899,486 ---------- ---------- ---------- ---------- ---------- ---------- ----------- 2,656,805 2,925,613 6,041,703 759,725 4,026,180 899,486 17,309,512 Contributions receivable: Employee 30,989 45,558 73,568 48,316 198,431 Employer 132,813 199,996 373,545 441,816 271,806 1,419,976 Accrued dividends receivable 59,334 59,334 Cash 32 79 27 7 2 3,700 3,847 ---------- ---------- ---------- ---------- ---------- --------- ----------- Net assets available for Plan benefits $2,820,639 $3,171,246 $6,488,843 $1,201,548 $4,405,638 $ 903,186 $18,991,100 ========== ========== ========== ========== ========== ========= ===========
See accompanying notes to financial statements. - 2 - 5 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 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 - 6 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, 1994
Short Term Balanced Equity Stock Wells Fargo Loan Fund Fund Fund Fund Fund Fund Total ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income: Interest $ 112,013 $ 119,594 $ 127,184 $ 2,619 $ 1,068 $ 57,803 $ 420,281 Dividends 4,486 40,779 108,775 1,746 69,266 225,052 Realized and unrealized gains (losses) (73,890) (321,213) (614,790) 19,532 15,588 (974,773) ----------- ----------- ----------- ----------- ----------- -------- ------------ 42,609 (160,840) (378,831) 23,897 85,922 57,803 (329,440) Contributions: Employee 610,145 878,127 1,529,872 353,120 3,371,264 Employer 141,537 194,885 369,028 441,816 271,806 1,419,072 Employee rollovers from other qualified plans 100,159 121,613 113,404 19,333 354,509 ----------- ----------- ----------- ----------- ----------- --------- ------------ Total additions 894,450 1,033,785 1,633,473 465,713 730,181 57,803 4,815,405 ----------- ----------- ----------- ----------- ----------- --------- ------------ DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Benefit payments 641,272 479,239 318,416 2,239 27,241 17,634 1,486,041 Administrative expenses 33,706 47,400 84,997 3,133 11,795 181,031 ----------- ----------- ----------- ----------- ----------- --------- ------------ Total deductions 674,978 526,639 403,413 5,372 39,036 17,634 1,667,072 ----------- ----------- ----------- ----------- ----------- --------- ------------ Net increase 219,472 507,146 1,230,060 460,341 691,145 40,169 3,148,333 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 3,773,821 4,400,698 7,062,476 605,772 15,842,767 Transfers (1,172,654) (1,736,598) (1,803,693) 741,207 3,714,493 257,245 ----------- ----------- ----------- ----------- ----------- --------- ------------ End of year $ 2,820,639 $ 3,171,246 $ 6,488,843 $ 1,201,548 $ 4,405,638 $ 903,186 $ 18,991,100 =========== =========== =========== =========== =========== ========= ============
See accompanying notes to financial statements. - 4 - 7 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 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 deductions 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 - 8 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 Plan's Administrative Committee (the Committee) and all investments and cash are held by Imperial Trust Company (the Trustee). Watson Wyatt 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, April 1, July 1 and October 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 or more years of service 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. ROLLOVER CONTRIBUTIONS Subject to the terms of the Plan, the Committee may authorize the 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 - 6 - 9 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 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 Until July 1, 1994, 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, and 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, 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 (formerly the low-risk fund), a balanced fund, an equity fund, a stock fund (comprised of the Company's common stock) and a Wells Fargo 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. 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. - 7 - 10 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 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, with fund information, 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 1994 and 1993 Form 5500 filings. Net assets allocable to terminated employees totaled $6,729 and $42,937 at December 31, 1994 and 1993, 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. - 8 - 11 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 5. TAX STATUS OF THE PLAN During 1986, the Committee received a favorable determination letter from the Internal Revenue Service (IRS) as to the qualified status of the Plan. In March 1995, the Committee requested a favorable determination letter from the IRS which incorporates amendments adopted subsequent to the 1986 determination letter. The Committee is of the opinion that the Plan, together with certain amendments adopted subsequent to receipt of the 1986 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 - 12 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I SHORT TERM FUND
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Interest in Pooled Funds - ------------------------ SEI Liquid Asset Trust Treasury portfolio 315,700 $ 315,700 $ 315,700 ---------- ---------- U.S.Government Securities - ------------------------- U.S. Treasury Bills DTD 9/1/94, 3/2/95 400,000 390,049 396,316 U.S. Treasury Bills DTD 12/8/94, 6/8/95 500,000 484,025 486,290 U.S. Treasury Bills DTD 2/23/95, 8/24/95 500,000 477,366 478,505 U.S. Treasury Bills DTD 12/15/94, 12/14/95 300,000 279,550 280,428 U.S. Treasury Notes 7.625%, 12/31/94 DTD 12/31/90 700,000 713,562 699,566 ---------- ---------- $2,344,552 $2,341,105 ---------- ---------- Short Term Fund Total $2,660,252 $2,656,805 ========== ==========
- 10 - 13 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 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 - -------------------------- J. P. Morgan & Co. Inc. 7.625%,11/15/98 DTD 11/15/91 75,000 $ 81,438 $ 73,532 ---------- ---------- Common Stock - ------------ AT&T Corp. Class A 900 $ 48,028 $ 45,225 Abbot Laboratories Class A 1,600 45,096 52,200 Alfac Corp. Class A 1,500 46,218 48,000 Albertsons Class A 1,900 40,955 55,100 Allied Signal Inc. Class A 1,400 51,210 47,600 American Int'l Group Class A 500 44,261 49,000 Boeing Company Class A 1,100 48,292 51,700 Coca-Cola Company Class A 800 32,673 41,200 Colgate Palmolive Company Class A 800 39,431 50,700 Echlin Inc. Class A 1,300 42,597 39,000 Emerson Electric Company Class A 500 26,609 31,188 Enron Corp. Class A 1,600 51,679 48,800 Federal Home Loan Mtg. Class A 300 17,768 15,150 Federal Nat'l Mortgage Assn. Class A 200 17,262 14,575 Franklin Res. Inc. Class A 800 31,299 28,500 General Electric Company Class A 1,100 43,829 56,100 Intel Corp. Class A 500 31,246 31,938 Johnson & Johnson Class A 900 48,118 49,275 Kimberly Clark Corp. Class A 700 36,522 35,263 Motorola Inc. Class A 900 46,130 52,200 Newell Cos. Inc. Class A 1,600 28,100 33,600 Nucor Corp. Class A 600 39,186 33,225 Omnicom Group, Inc. Class A 700 34,031 36,225 J. C. Penney Company Class A 1,100 55,028 49,087 Pepsico, Incorporated Class A 1,400 45,184 50,750 Phelps Dodge Class A 600 37,011 37,125 Proctor & Gamble Class A 700 38,193 43,400 Royal Dutch Def. New Class A 500 50,932 53,875 Schering Plough Class A 500 32,467 37,000 Service Corporation Int'l Class A 1,400 36,339 38,850 State Str. Boston Corp. Class A 1,100 26,914 31,487 Telefonos De Mexico Class A 900 55,328 36,900 Walgreen Co. Class A 1,200 40,521 52,350 ---------- ---------- $1,308,457 $1,376,588 ---------- ---------- Interest in Pooled Funds - ------------------------ SEI Liquid Asset Trust Treasury portfolio 167,100 $ 167,100 $ 167,100 ---------- ----------
- 11 - 14 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I (CONTINUED) BALANCED FUND, CONTINUED
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value U.S. Government Securities - -------------------------- Fed. Home Loan Bank 5.040%, 8/20/98 200,000 $ 198,500 $ 180,938 DTD 8/20/93 Fed. Home Loan Mtg. Corp. 9/20/00 200,000 176,438 173,316 DTD 9/20/93 Fed. Home Loan Mtg. Corp. 6.350%, 3/7/01 200,000 182,312 180,000 DTD 3/7/94 Fed. Nat'l Mtg. Assn. 6.850%, 4/5/04 200,000 198,300 182,438 Fed. Nat'l Mtg. Assn. 7.000%, 8/12/02 200,000 185,937 183,438 DTD 8/10/92 Fed. Nat'l Mtg. Assn. 0.000%, 12/10/04 200,000 199,844 197,750 DTD 12/12/94 FFCB Notes 5.100%,3/10/98 150,000 148,875 138,150 U.S. Treasury Notes 9.000%, 5/15/98 70,000 73,041 72,363 ---------- ---------- $1,363,247 $1,308,393 ---------- ---------- Balanced Fund Total $2,920,242 $2,925,613 ========== ==========
- 12 - 15 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I (CONTINUED) EQUITY FUND
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Corporate Debt Instruments - -------------------------- BP Amer. Inc. 9.875%, 3/15/04 200,000 $ 230,468 $ 219,216 General Electric Cap. Corp. 8.750%, 5/21/07 150,000 171,540 155,367 Merrill Lynch & Co. Inc. 8.000%, 6/1/07 100,000 111,347 93,436 DTD 6/1/92 Standard Cr. Card Master 7.250%, 4/7/08 150,000 145,781 138,174 ---------- ---------- $ 659,136 $ 606,193 ---------- ---------- Common Stock - ------------ AT&T Corp. Class A 2,800 $ 150,752 $ 140,700 Abbott Laboratories Class A 5,300 153,318 172,912 Alfac Corp. Class A 4,600 141,693 147,200 Albertsons Class A 6,000 139,632 174,000 Allied Signal Inc. Class A 4,500 164,520 153,000 American Int'l Group Class A 1,800 156,482 176,400 Boeing Company Class A 3,300 145,078 155,100 Coca-Cola Company Class A 2,600 105,341 133,900 Colgate Palmolive Company Class A 2,800 153,755 177,450 Echlin Incorporated Class A 4,400 142,341 132,000 Emerson Electric Company Class A 1,600 83,835 99,800 Enron Corp. Class A 5,200 166,672 158,600 Fed. Home Loan Mtg. Class A 900 53,304 45,450 Fed. Nat'l Mtg. Assn. Class A 600 51,786 43,725 Franklin Res. Inc. Class A 3,000 117,372 106,875 General Electric Company Class A 3,300 142,034 168,300 Intel Corporation Class A 1,400 87,148 89,425 Johnson & Johnson Class A 2,900 155,323 158,775 Kimberly Clark Corporation Class A 2,100 115,034 105,787 Motorola Incorporated Class A 2,900 150,065 168,200 Newell Cos Inc. Class A 4,800 88,285 100,800 Nucor Corp. Class A 1,800 117,558 99,675 Omnicom Group, Inc. Class A 2,300 111,840 119,025 J.C. Penney Company Class A 3,500 171,095 156,188 PepsiCo Incorporated Class A 4,900 168,692 177,625 Phelps Dodge Class A 1,900 117,202 117,563 Proctor & Gamble Company Class A 2,100 109,400 130,200 Royal Dutch Pet New Class A 1,500 153,577 161,625 Schering Plough Class A 1,700 110,390 125,800 Service Corporation Int'l Class A 4,500 116,721 124,875 State Str. Boston Corp. Class A 3,800 109,597 108,775 Telefonos De Mexico Class A 2,800 171,259 114,800 Walgreen Co. Class A 4,000 144,214 174,500 ---------- ---------- $4,265,315 $4,419,050 ---------- ----------
- 13 - 16 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I (CONTINUED) EQUITY FUND, CONTINUED
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Interest in Pooled Funds - ------------------------ SEI Liquid Asset Trust Treasury portfolio 464,600 $ 464,600 $ 464,600 ---------- ---------- U.S. Government Securities - -------------------------- Fed. Nat'l Mtg. Assn. 6.850%,4/5/04 200,000 $ 198,300 $ 182,438 Fed. Home Loan Mortgage 6.550%,4/2/03 100,000 99,844 88,969 U.S. Treasury Bonds 10.750%,8/15/05 150,000 177,516 180,234 U.S. Treasury Notes 7.875%,8/15/01 100,000 107,312 100,219 ---------- ---------- $ 582,972 $ 551,860 ---------- ---------- Equity Fund Total $5,972,023 $6,041,703 ========== ==========
- 14 - 17 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I (CONTINUED) STOCK FUND
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Common Stock - ------------ Dreyer's Grand Ice Cream, Inc. Class A 29,100 $702,417 $720,225 -------- -------- Interest in Pooled Funds - ------------------------ SEI Liquid Asset Trust Treasury Portfolio 39,500 $ 39,500 $ 39,500 -------- -------- Stock Fund Total $741,917 $759,725 ======== ========
- 15 - 18 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 SCHEDULE I (CONTINUED) WELLS FARGO FUND
Number of Shares or Cost of Current Identity of Issue Description of Investment Face Value Asset Value Interest in Pooled Funds - ------------------------ Wells Fargo Inc. S&P Mutual funds 395,888 $4,011,398 $4,026,180 500 Stock Fund ---------- ---------- Wells Fargo Fund Total $4,011,398 $4,026,180 ========== ==========
- 16 - 19 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN ASSETS HELD FOR INVESTMENT AT DECEMBER 31, 1994 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% to 10.5%, due 6/28/96 through 11/28/99 $ $ 899,486 ----------- ----------- Loan Fund Total $ $ 899,486 =========== =========== Total Assets Held for Investment at December 31, 1994 $16,305,832 $17,309,512 =========== ===========
- 17 - 20 DREYER'S GRAND ICE CREAM, INC. SAVINGS PLAN SERIES OF TRANSACTIONS DURING THE YEAR ENDED DECEMBER 31, 1994 IN EXCESS OF 5% OF THE CURRENT VALUE OF PLAN ASSETS AT JANUARY 1, 1993 SCHEDULE V
Current Number Cost of 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 302 $17,867,700 $17,867,700 $ Imperial Trust Co. U.S. Treasury Bills 8 4,242,244 4,242,244 Imperial Trust Co. Dreyer's Grand Ice Cream, Inc. 27 753,362 753,362 Imperial Trust Co. Wells Fargo S&P 500 Stock Fund 13 4,068,716 4,068,716 Imperial Trust Co. SEI Liquid Asset Trust - treasury 231 $19,580,213 $19,581,900 19,580,213 (1,687) Imperial Trust Co. U.S. Treasury Bills 5 1,628,448 1,635,515 1,628,448 (7,067) Imperial Trust Co. Dreyer's Grand Ice Cream, Inc. 2 52,668 50,945 52,668 1,723 Imperial Trust Co. Wells Fargo S&P 500 Stock Fund 7 58,123 57,317 58,123 806
- 18 - 21 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: June 29, 1995 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 - 19 - 22 INDEX TO EXHIBITS Exhibit Number Description - ------- ------------------------------- 23 Consent of Price Waterhouse LLP EX-23 2 CONSENT OF INDEPENDENT ACCOUNTANTS 1 EXHIBIT 23 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 33-56417) of Dreyer's Grand Ice Cream, Inc. of our report dated June 19, 1995, which appears on page 1 of this Form 11-K. /s/ PRICE WATERHOUSE LLP - ----------------------------- PRICE WATERHOUSE LLP San Francisco, California June 29, 1995 -----END PRIVACY-ENHANCED MESSAGE-----