-----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, ByM3D2u2rjDDdgHgXzAVuWnqu6UitRJJmS6YZMhvTymfJuG5WYQmKOv8qAhWNZvj q0MBhMKWo8Ymr9Ur9JztjA== 0000045876-94-000008.txt : 19940706 0000045876-94-000008.hdr.sgml : 19940706 ACCESSION NUMBER: 0000045876-94-000008 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARSCO CORP CENTRAL INDEX KEY: 0000045876 STANDARD INDUSTRIAL CLASSIFICATION: 3440 IRS NUMBER: 231483991 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03970 FILM NUMBER: 94536836 BUSINESS ADDRESS: STREET 1: 350 POPLAR CHURCH RD CITY: CAMP HILL STATE: PA ZIP: 17001-8888 BUSINESS PHONE: 7177637064 MAIL ADDRESS: STREET 1: PO BOX 8888 CITY: CAMP HILL STATE: PA ZIP: 17001-8888 11-K 1 SAVINGS PLAN II FORM 11-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the fiscal year ended December 31, 1993 HARSCO CORPORATION SAVINGS PLAN II (Full title of the Plan) HARSCO CORPORATION (Name of issuer of the securities held pursuant to the Plan) Camp Hill, PA 17001-8888 (Address of principal executive office) Telephone - (717) 763-7064 Financial Statements and Exhibits (a) Financial Statements. The financial statements filed as part of this report are listed in the Index to Financial Statements included herein. (b) Exhibits. (1) Consent of Independent Accountants (2) Participant's Statement of Account (3) Description of Federal Tax Considerations (4) Appendix B to Savings Plan II HARSCO CORPORATION SAVINGS PLAN II INDEX TO FINANCIAL STATEMENTS FORM 11-K ANNUAL REPORT Report of Independent Accountants Financial Statements: Statement of Net Assets Available for Benefits with Fund Information: December 31, 1993 - Funds A and C (commingled), Funds B, E and F December 31, 1992 - Funds A and C (commingled), Funds B, E and F Statements of Changes in Net Assets Available for Benefits with Fund Information for the year ended: December 31, 1993 - Funds A and C (commingled), Funds B, E and F Notes to Financial Statements 8-13 Supplemental Schedules: Assets Held for Investment Purposes as of December 31, 1993 - 27(a)* Reportable Transactions for the year ended December 31, 1993 - 27(d)* * Refer to item numbers in Form 5500 (Annual Return/Report of Employee Benefit Plan) for the plan year ended December 31, 1993. REPORT OF INDEPENDENT ACCOUNTANTS To the Plan Administrative Committee of the Harsco Corporation Savings Plan II: We have audited the accompanying financial statements of the Harsco Corporation Savings Plan II listed in the index on page 3 of this Form 11-K. These financial statements are the responsibility of the Administrative Committee. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits 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 audits provide a reasonable basis for our opinion. As discussed in Note 5 to the financial statements, effective January 1, 1994, the Harsco Corporation Savings Plan II was merged into the Harsco Corporation Savings Plan. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 1993 and 1992, and the changes in the net assets available for benefits for the year ended December 31, 1993 in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of Assets Held for Investment Purposes and Reportable Transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The Fund Information in the statement of net assets available for benefits with fund information and the statement of changes in net assets available for benefits with fund information 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. The supplemental schedules and 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. As discussed in Note 2 to the financial statements, the Company changed its method of accounting for participant withdrawals in 1993. COOPERS & LYBRAND Philadelphia, Pennsylvania June 28, 1994 HARSCO CORPORATION SAVINGS PLAN II STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION December 31, 1993
Harsco Common Fixed Managed Indexed Stock Income Equity Equity Total Funds A & C Fund B Fund E Fund F __________ ___________ __________ __________ __________ Assets Investments, at fair value (Note 2) Harsco Corporation 220,177 shares of common stock (cost $6,581,481) $ 8,944,705 $ 8,944,705 $ - $ - $ - Mutual Funds (cost $613,021 and $348,985, respectively) 1,012,081 - - 641,341 370,740 Short-term investments (at cost which approximates market) 652 633 11 5 3 __________ __________ __________ __________ __________ 9,957,438 8,945,338 11 641,346 370,743 Investments, at contract value (Note 2) Guaranteed rate group annuity contract 1,638,314 - 1,638,314 - - __________ __________ __________ __________ __________ Total investments 11,595,752 8,945,338 1,638,325 641,346 370,743 __________ __________ __________ __________ __________ Contributions Receivable: Employer's 161,366 161,366 - - - Participants' 234,425 118,742 53,291 36,691 25,701 Interest Receivable 6,123 - - - 6,123 __________ __________ __________ __________ __________ Total receivables 401,914 280,108 53,291 36,691 31,824 __________ __________ __________ __________ __________ Total assets 11,997,666 9,225,446 1,691,616 678,037 402,567 Liabilities Payable to Harsco Savings Plan (43,817) (43,817) - - - __________ __________ __________ __________ __________ Net assets available for benefits $11,953,849 $ 9,181,629 $ 1,691,616 $ 678,037 $ 402,567 __________ __________ __________ __________ __________ __________ __________ __________ __________ __________
The accompanying notes are an integral part of the financial statements. HARSCO CORPORATION SAVINGS PLAN II STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION December 31, 1992
Harsco Common Fixed Managed Indexed Stock Income Equity Equity Total Funds A & C Fund B Fund E Fund F __________ ___________ __________ __________ __________ Assets Investments, at fair value (Note 2) Harsco Corporation 178,153 shares of common stock (cost $4,874,831) $ 6,750,373 $ 6,750,373 $ - $ - $ - Mutual Funds (cost $326,922 and $178,899, respectively) 492,960 - - 309,115 183,845 Short-term investments (at cost which approximates market) 262,199 118,236 54,544 52,086 37,333 __________ __________ __________ __________ __________ 7,505,532 6,868,609 54,544 361,201 221,178 Investments, at contract value (Note 2) Guaranteed rate group annuity contract 1,421,996 - 1,421,996 - - __________ __________ __________ __________ __________ Total investments 8,927,528 6,868,609 1,476,540 361,201 221,178 __________ __________ __________ __________ __________ Contributions Receivable: Employer's 68,362 68,362 - - - Participants' 163,274 90,043 32,914 23,881 16,436 Interest Receivable 809 654 - 85 70 __________ __________ __________ __________ __________ Total receivables 232,445 159,059 32,914 23,966 16,506 __________ __________ __________ __________ __________ Total assets 9,159,973 7,027,668 1,509,454 385,167 237,684 Liabilities Payable to Harsco Savings Plan (3,831) (3,672) - (159) - Payable for employee withdrawals (121,465) (56,088) (55,642) (4,220) (5,515) __________ __________ __________ __________ __________ Net assets available for benefits $ 9,034,677 $ 6,967,908 $ 1,453,812 $ 380,788 $ 232,169 __________ __________ __________ __________ __________ __________ __________ __________ __________ __________
The accompanying notes are an integral part of the financial statements. HARSCO CORPORATION SAVINGS PLAN II STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION For the year ended December 31, 1993
Harsco Common Fixed Managed Indexed Stock Income Equity Equity Total Funds A & C Fund B Fund E Fund F __________ ___________ __________ __________ __________ Assets Additions to net assets attributed to: Investment income Net appreciation in fair value of investments $ 568,575 $ 502,642 $ - $ 47,233 $ 18,700 Dividends 344,105 273,265 - 57,401 13,439 Interest - short-term investments 5,439 4,429 552 266 192 Interest - group annuity contract 100,814 - 100,814 - - __________ __________ __________ __________ __________ 1,018,933 780,336 101,366 104,900 32,331 Cash Contributions: Employer's, less forfeitures of $4,033 705,303 705,303 - - - Participant's 1,667,670 958,041 316,997 234,070 158,562 __________ __________ __________ __________ __________ Total additions 3,391,906 2,443,680 418,363 338,970 190,893 __________ __________ __________ __________ __________ Deductions Deductions from net assets attributed to: Employee withdrawals 543,826 276,016 206,175 37,892 23,743 Participants transferred to Harsco Savings Plan 50,373 40,311 6,828 1,875 1,359 __________ __________ __________ __________ __________ Total deductions 594,199 316,327 213,003 39,767 25,102 __________ __________ __________ __________ __________ Net increase prior to interfund transfers 2,797,707 2,127,353 205,360 299,203 165,792 Interfund transfers - 30,280 (23,198) (6,174) (908) __________ __________ __________ __________ __________ Net increase 2,797,707 2,157,633 182,162 293,029 164,883 Net assets available for benefits: December 31, 1992, as previously reported 9,034,677 6,967,908 1,453,812 380,788 232,169 Cumulative effect of accounting change (Note 2) 121,465 56,088 55,642 4,220 5,515 __________ __________ __________ __________ __________ December 31, 1992 9,156,142 7,023,996 1,509,454 385,008 237,684 __________ __________ __________ __________ __________ December 31, 1993 $11,953,849 $ 9,181,629 $ 1,691,616 $ 678,037 $ 402,567 __________ __________ __________ __________ __________ __________ __________ __________ __________ __________
The accompanying notes are an integral part of the financial statements. NOTES TO FINANCIAL STATEMENTS OF SAVINGS PLAN II 1. General Description of Plan: The following description of the Harsco Corporation Savings Plan II ("Savings Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. The Savings Plan, which became effective January 1, 1989, is a defined contribution plan designed to comply with the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA") and with the requirements for qualification under Sections 401(a) and 401(k) of the Internal Revenue Code (the "Code"). All employees who receive a stated weekly, hourly, monthly or annual rate of compensation and are employed by Harsco Corporation (the "Company") or any subsidiary of the Company in the United States, its territories and possessions and are covered by a collective bargaining agreement that expressly provides that the employees subject thereto shall be covered by, or remain covered by, this Plan, are deemed "Covered Employees". Appendix B of the Plan and as amended from time to time, shall identify the collective bargaining units representing Covered Employees under this Plan and the date as of which their coverage commenced. Any Covered Employee who has completed at least one thousand (1,000) hours of service during the twelve (12) month period beginning with the date of commencement of his employment is deemed an "Eligible Employee". To participate in the Savings Plan, an Eligible Employee must elect to contribute to the Plan through payroll deductions each pay period in whole percentages from 2% to 16% of compensation received for services as an employee of the Company or any subsidiary of the Company. The participant shall designate what percentage of such contributions will be "After-Tax Contributions" and what percentage will be "Tax-Saver Contributions." Based on the participants' collective bargaining unit agreement, a participant who makes Matched After-Tax and/or Matched Tax-Saver Contributions in an aggregate amount of 4%, 5% or 6% of his compensation may also elect to contribute from 1% to 10% of his compensation as an Unmatched After-Tax and/or Unmatched Tax-Saver Contribution. In no event during the year, based on the participants' collective bargaining unit agreement, may (a) Matched After-Tax and Matched Tax-Saver Contributions exceed 4%, 5% or 6% of compensation, (b) Unmatched After-Tax and Unmatched Tax-Saver Contributions exceed 10% of compensation or (c) Tax-Saver Contributions exceed the amount specified by the Internal Revenue Service code which is $8,994. Tax-Saver Contributions shall constitute a reduction in the participant's taxable income for purposes of Section 401(k) of the Code but for the purpose of the Company's tax deductions, shall be considered contributions made by the Company. After-Tax Contributions will be considered to be the participant's contributions to the Savings Plan and shall not constitute a reduction in the participant's taxable income for the purposes of Section 401(k) of the Code. Pursuant to the Savings Plan, the Company will make monthly contributions either wholly or partially in cash or Common Stock of the Company to the Trustee for the account of each participant in an amount equal to 50% of the first 4%, 5% or 6% of such participants' compensation designated as Matched After-Tax Contributions and/or Matched Tax-Saver Contributions. These contributions are referred to as "Company Contributions". 2. Summary of Significant Accounting Policies: Basis of Accounting: The financial statements of the Savings Plan are prepared under the accrual method of accounting. Payment of Benefits: In 1993, the Savings Plan adopted the provisions of the AICPA Audit and Accounting Guide, "Audits of Employee Benefits Plans", requiring that amounts allocated to withdrawing participants not be reported as a liability in the statement of net assets available for plan benefits. As a result, the Savings Plan recorded a cumulative effect adjustment at the beginning of 1993 of $121,465. This represents the amounts allocated to withdrawing participants but not yet paid at December 31, 1992. Prior year's financial statements were not restated. Investment Valuation: The Harsco Corporation Common Stock is stated at market value, which represents the closing price of the stock on the Composite Reporting Tape of the stock exchanges on the last day of trading of the calendar year. The Participant Group Annuity Contracts with Metropolitan Life Insurance Company (Metropolitan), are stated at cost plus accrued interest with principal and interest guaranteed by Metropolitan. Based on available information at December 31, 1993, the Company believes that the fair value of the Metropolitan Group Annuity Contracts is not significantly different from cost plus accrued interest. The Fidelity Magellan Mutual Fund shares in the Managed Equity Fund are stated at market value, which represents the closing price of the fund on the last trading day of the calendar year. The Vanguard 500 Portfolio Index Trust Mutual Fund shares in the Indexed Equity Fund are stated at market value, which represents the closing price of the fund on the last trading day of the calendar year. Short-term investments, which represent the temporary investment of funds until purchases of common stock are completed, are invested in the CoreStates Liquidity Fund. Other: The plan presents in the Statement of Changes in Net Assets Available for Benefits with Fund Information the net appreciation (depreciation) in the market value of its investments which consists of the realized gains or losses and the unrealized appreciation (depreciation) on those investments. Fund A and Fund C, described in Note 3, are commingled and share proportionally in income distribution and realization of appreciation or depreciation on investments. The purchase and sales of investments are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis. Both participants' and Company contributions are accrued in the period of the related payroll deductions. Forfeitures, a result of withdrawals prior to full vesting in the plan, are used to reduce the amount of future Company contributions. 3. Investment Programs: The Savings Plan, comprised of participants' and Company contributions, is divided into the following funds described below. (1) Fund A-(Common Stock purchased with Company contributions): a fund consisting of Common Stock of Harsco Corporation purchased in the open market, from the Company, or through privately negotiated transactions to the extent permitted by rules of the New York Stock Exchange and the Securities and Exchange Commission. (2) Fund B-(Fixed Income Fund, consisting of investments purchased with participants' contributions): a fund currently maintained through an agreement with one or more insurance companies or other financial institutions, designated by the Company, under which the insurance company or financial institution shall guarantee repayment of the principal and payment of interest at a fixed annual rate for a specified period of time in accordance with the terms of the agreement. However, all participating employees earn interest at a pooled or "blended rate" which is determined each year and is based upon the applicable specific rates for the current and prior years. Consequently, the blended rate for 1993 combines the specific rates for 1992 (6.26%) and 1991 (8.45%), with the 6.70% rate for monies deposited and redeposited in 1993. (3) Fund C-(Common Stock purchased with participants' contributions): a fund consisting of Common Stock of Harsco Corporation purchased in the open market, from the Company, or through privately negotiated transactions to the extent permitted by rules of the New York Stock Exchange and the Securities and Exchange Commission. (4) Fund E-(Managed Equity Fund purchased with participants' contributions): a fund consisting of shares of the Fidelity Magellan Mutual Fund which is managed by Fidelity Management and Research Company, Boston, Massachusetts. (5) Fund F - (Indexed Equity Fund purchased with participants' contributions): a fund consisting of shares of the Vanguard 500 Portfolio Index Trust mutual fund which is managed by the Vanguard Group, Valley Forge, Pennsylvania. If at any time it is not possible for the Trustee to purchase Common Stock of the Company as required for Funds A and C, the Trustee will invest such funds in short-term obligations of the United States government or agencies thereof or in other types of short-term investments, including commercial paper (other than obligations of the Company or its affiliates). Investment choices, which an Eligible Employee may elect, are as follows: A. Participant's Matched After-Tax and/or Matched Tax-Saver Contributions - At the time an Eligible Employee enrolls for participation in the Plan, he shall also elect to have his Matched After-Tax and/or Matched Tax-Saver Contributions invested in accordance with 1 or 2 below, depending upon whether or not he has attained the age of fifty-five (55). 1. Under Age Fifty-five (55) - In multiples of 25% in Funds B, C, E and/or F provided at least a minimum of 50% of the first 4%, 5% or 6% for 1993 of the Contribution is in Fund C, based on the participants' collective bargaining agreement. 2. Age Fifty-five (55) and over - In multiples of 25% in Funds B, C, E and/or F in any combination thereof. No minimum percentage is required in any of these Funds. B. Participant's Unmatched After-Tax Contributions and/or Unmatched Tax-Saver Contributions - At the time of enrollment for participation in the Plan, or as of any subsequent enrollment date, a Participant who elects to make Unmatched After-Tax and/or Unmatched Tax-Saver Contributions shall also elect to have such Contributions invested, whether or not he has attained age fifty-five (55), in multiples of 25% in funds B, C, E and/or F in any combination thereof. No minimum percentage is required in any of these Funds. There were 773 participants at December 31, 1993 who participated in one or more of the four investment funds. At December 31, 1993 the number of participants selecting each of the investment funds for their contributions was as follows: Harsco Corporation Common Stock 754 Fixed Income Fund 390 Managed Equity Fund 271 Indexed Equity Fund 216 4. Reconciliation of Financial Statements to Form 5500: The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500: 1993 __________ Net assets available for benefits per the financial statements $11,953,849 Amounts allocated to withdrawing participants (60,354) __________ Net assets available for benefits per the Form 5500 $11,893,495 __________ __________ The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500: 1993 __________ Benefits paid to participants per the financial statements $ 543,826 Add: Amounts allocated to withdrawing participants at December 31, 1993 60,354 Less: Amounts allocated to withdrawing participants at December 31, 1992 (121,465) __________ Benefits paid to participants per the Form 5500 $ 482,715 __________ __________ Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, but not yet paid as of that date. 5. Subsequent Event: (1) On January 1, 1994 FMC Corporation and Harsco Corporation formed a joint venture known as United Defense, L.P. Harsco's BMY-CS Division will be jointly owned with FMC holding a majority interest of 60 percent and Harsco holding the remaining 40 percent. According to the provisions of the agreement, the partnership will establish as part of its' Partnership Benefits Plans a Partnership 401(k) Plan which will be a qualified plan under Section 401(a) of the Code. As soon as practicable after the establishment of the Partnership 401(k) Plan, subject to the receipt of all appropriate governmental actions, FMC and Harsco, respectively, shall cause the trustee of its 401(k) Plan(s) to transfer to a Partnership Master Trust established in connection with the Partnership 401(k) Plan (a) the number of shares of FMC or Harsco stock held under its 401(k) Plan for plan participants and (b) cash, cash equivalents or other securities with a readily determinable market value such that the total of (a) and (b) shall equal the fair market value of the assets of the respective FMC and Harsco 401(k) Plans representing the account balances of plan participants as of the date such assets are transferred. At December 31, 1993 there were 651 participants in the Harsco Corporation Savings Plan II that will transfer into the Partnership 401(k) Plan when established. (2) Effective January 1, 1994 Harsco Corporation Savings Plan II was merged into the Harsco Corporation Savings Plan. As a result of this merger, the remaining 122 participants in Plan II at December 31, 1993 that are not transferring into the Partnership 401(k) Plan will be included in the Harsco Corporation Savings Plan. 6. Federal Income Taxes: The Company received a determination from the Internal Revenue Service on August 26, 1991, that the Plan, effective January 1, 1989, as last amended January 1, 1990, is a qualified plan under Sections 401(a) and 401(k) of the Internal Revenue Code and is therefore exempt from Federal income taxes under the provisions of Section 501(a). Further amendments have been made to the Plan since January 1, 1990 and additional amendments are anticipated to be made in order to comply with the requirements of the Internal Revenue Code as amended. The Company believes that the Plan, as amended, is currently designed and being applied in compliance with the applicable requirements of the Internal Revenue Code and intends to submit the Plan to the Internal Revenue Service for a determination of continued qualification. As to the Federal Income Tax status of the employee with respect to the Plan, see "Description of Federal Tax Considerations", Exhibit (3), incorporated by reference. HARSCO SAVINGS PLAN II ASSETS HELD FOR INVESTMENT PURPOSES - ITEM 27(a) (FORM 5500) December 31, 1993
Shares or Current Par Value Description of Investment Cost Value _________ _________ Common Stock 220,177 Harsco Corp. Common Stock, per value $1.25 $6,581,481 $ 8,944,705 _________ __________ Total Common Stock 6,581,481 8,944,705 _________ __________ Contracts - Insurance $465,270 Metropolitan Life Insurance GAC '11979, 8.45%, 1/1/1994 465,270 468,487 $442,389 Metropolitan Life Insurance GAC '13400, 5.48%, 1/1/1996 442,389 444,412 $721,683 Metropolitan Life Insurance GAC '12885, 6.26%, 1/1/1995 721,683 725,414 _________ __________ Total Contracts - Insurance 1,629,342 1,638,313 _________ __________ Mutual Funds 9,264 Fidelity Magellan Fund 613,021 641,341 8,388 Vanguard Instl Equity Index Fund 348,985 370,740 _________ __________ Total Mutual Funds 962,006 1,012,081 _________ __________ Total Assets $9,172,829 $11,595,099 _________ __________ _________ __________
HARSCO CORPORATION SAVINGS PLAN II SCHEDULE OF REPORTABLE TRANSACTIONS - ITEM 27(d) (FORM 5500) For the year ended December 31, 1993
(i), (ii) (a) (b) Total Number Value of (v) Identity of Description of Purchase(P) Purchases Net Gain party involved of Asset or Sales(S) or Sales or (Loss) _____________________________________________________________________________________________ Harsco Corporation, Harsco Common (P) 135 $1,735,393 $ 0 plan sponsor Stock, Fund A and (S) 1 $ 20,806 $ 2,253 Fund C Metropolitan Life Group Insurance (P) 7 $ 440,405 $ 0 Insurance Company Contract Fixed (S) 4 $ 57,908 $ 0 Income, Fund B, Interest 5.48% to 8.45% guaranteed rate, unit price $1 Corestates Financial Corestates Liquidity (P) 109 $2,517,226 $ 0 Corporation Fund, Money (S) 186 $2,836,124 $ 0 Vanguard Mutual Fund - (P) 17 $ 189,543 $ 0 Indexed Equity, (S) 9 $ 390,979 $17,591
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrative Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized. HARSCO CORPORATION SAVINGS PLAN II BY /S/ Richard C. Hawkins R. C. Hawkins, Chairman Plan Administrative Committee June 28, 1994 HARSCO CORPORATION SAVINGS PLAN II Annual Report on Form 11-K for the year ended December 31, 1993 INDEX TO EXHIBITS Exhibit Number Data Required Location in 11-K 1 Consent of Independent Accountants Page 18 2 Participant's Statement of Account Page 19 3 Description of Federal Tax Incorporated by reference Considerations from pages 49-54 Post Effective Amendment No. 2 to form S-8 Registration Statement (Registration No. 33-24854) effective April 30, 1990. 4 Appendix "B" to Savings Plan II Page 20 EXHIBIT 1 CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in Post Effective Amendment No. 2 to Form S-8 Registration Statement (Registration No. 33-24854) of our report which includes an emphasis of a matter paragraph regarding the merger of Harsco Corporation Savings Plan II into Harsco Corporation Savings Plan and explanatory paragraphs regarding (1) supplemental schedules and fund information and (2) a change in the method of accounting for participant withdrawals in 1993, dated June 28, 1994, on our audits of the net assets available for benefits of the Harsco Corporation Savings Plan II as of December 31, 1993 and 1992 and the changes in net assets available for benefits for the year ended December 31, 1993, which report is included in this Annual Report on Form 11-K. COOPERS & LYBRAND Philadelphia, Pennsylvania June 28, 1994 EXHIBIT 2 HARSCO CORPORATION SAVINGS PLAN AS OF DECEMBER 31, 1993 Total Tax-Saver Contributions To-Date $0.00 Total After-Tax Contributions To-Date $0.00 Total Company Contributions To-Date $0.00 Total Earnings To-Date $0.00 Total Value of Your Account $0.00 Sample Participant SSN: 999-99-9999 123 Main Street Division 00 Anywhere, US 12345 Location 00
Harsco Fixed Money Managed Indexed Common Income Market Equity Equity Stock Fund Fund Fund Fund Total Balance as of 1/1/93 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 Company Contributions 0.00 0.00 Earnings 0.00 0.00 Adjustments Tax Saver Contributions 0.00 0.00 0.00 0.00 0.00 0.00 Earnings 0.00 0.00 0.00 0.00 0.00 0.00 Withdrawals Transfers Adjustments After-Tax Contributions 0.00 0.00 0.00 0.00 0.00 0.00 Earnings 0.00 0.00 0.00 0.00 0.00 0.00 Withdrawals Transfers Adjustments Balance as of 12/31/93 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 Vested Balance as of 12/31/93 $ 0.00 Participant as of 07/01/83 Includes dividends. Includes $0.000 shares of Harsco Common Stock at $40.625 market value per share plus $0.00 of cash earning interest but not yet invested in stock.
EXHIBIT 4 SAVINGS PLAN II APPENDIX "B" COLLECTIVE BARGAINING UNITS Collective Bargaining Units Date of Coverage ___________________________ ________________ United Steelworkers of America January 1, 1989 Local Union No. 7687 (BMY) International Brotherhood of April 1, 1990 Boilermakers, Iron Shipbuilders Blacksmiths, Forgers & Helpers, Local Lodge No. 398 (P-K) United Steelworkers of America July 1, 1990 Local Union No. 8628 (HKT) United Automobile, Aerospace and January 1, 1992 Agricultural Implement Workers of America Local Union No. 2310 (PCS) International Union of Operating Engineers June 1, 1992 Local Union No. 101 (HKT) United Steelworkers of America April 1, 1993 Local Union No. 8027 (IKG) United Paperworkers International July 1, 1993 Local Union No. 50542 (IKG) -----END PRIVACY-ENHANCED MESSAGE-----