-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KHuDnFhX10QAhmFEtwqP2vp0oVQW4af6wSqqV7XBsSK9sQtmQte0oIkt+Drlv8XO 82TR44qzGaNGU9QmfakWxQ== 0000051396-95-000032.txt : 19951120 0000051396-95-000032.hdr.sgml : 19951120 ACCESSION NUMBER: 0000051396-95-000032 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951115 SROS: CSX SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MALLINCKRODT GROUP INC CENTRAL INDEX KEY: 0000051396 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 361263901 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-00483 FILM NUMBER: 95593876 BUSINESS ADDRESS: STREET 1: 7733 FORSYTH BLVD CITY: ST LOUIS STATE: MO ZIP: 63105 BUSINESS PHONE: 3148545299 MAIL ADDRESS: STREET 1: 7733 FORSYTH BLVD CITY: ST LOUIS STATE: MO ZIP: 63105 FORMER COMPANY: FORMER CONFORMED NAME: IMCERA GROUP INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: INTERNATIONAL MINERALS & CHEMICAL CORP DATE OF NAME CHANGE: 19900614 10-K/A 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-K/A No. 2 X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ----- SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED) For the fiscal year ended June 30, 1995 ----- TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from to Commission file number 1-483 _______________________ MALLINCKRODT GROUP INC. (Exact name of Registrant as specified in its charter) New York 36-1263901 (State or other jurisdiction of (I.R.S. Employer) incorporation or organization) Identification No.) 7733 Forsyth Boulevard St. Louis, Missouri (Address of principal 63105-1820 executive offices) (Zip Code) Registrant's telephone number, including area code: 314-854-5200 ----------------------- Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which registered ------------------- ----------------------- 4% Cumulative Preferred Stock, par value $100 per share New York Stock Exchange Common Stock, par value $1 per share New York Stock Exchange Chicago Stock Exchange Pacific Stock Exchange 9 7/8% Sinking Fund Debentures due March 15, 2011 New York Stock Exchange 6% Notes due October 15, 2003 New York Stock Exchange 7% Debentures due December 15, 2013 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None _______________________ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ___ ______________________ State the aggregate market value of the voting stock held by non-affiliates of the Registrant: $2,884,846,713 as of August 31, 1995. Market value is based on the August 31, 1995, closing prices of Registrant's Common Stock and 4% Cumulative Preferred Stock. Applicable Only To Corporate Registrants: Indicate the number of shares outstanding of each of the Registrant's classes of common stock: 76,532,542 shares as of August 31, 1995. Documents Incorporated By Reference: Information required by Items 10, 11, 12, and 13 of Part III is incorporated by reference from pages 1 through 4, pages 6 through 19, pages 8 and 9, and pages 7, 9 and 10, respectively, of the Registrant's definitive Proxy Statement for the Annual Meeting of Stockholders to be held on October 18, 1995. The purpose of this amendment is to amend in its entirety Part II, Item 6 to the Registrant's Annual Report on Form 10-K for the fiscal year ended June 30, 1995, as amended by Amendment No. 1 thereto on Form 10-K/A, dated November 3, 1995. PART II. ITEM 6. SELECTED FINANCIAL DATA (Dollars in millions except per share amounts)
Years ended June 30, -------------------------------- 1995 1994 (1) 1993 (1) -------- -------- --------- Net sales........................................$2,212.1 $1,940.1 $1,796.3 Earnings (loss) from continuing operations.......$ 184.1 $ 107.4 $ (113.8) Earnings (loss) from discontinued operations(5).. (3.8) (3.6) (6.0) Cumulative effects of accounting changes......... (80.6) --------- --------- --------- Net earnings (loss).............................. 180.3 103.8 (200.4) Preferred stock dividends........................ (.4) (.4) (.4) --------- --------- --------- Available for common shareholders................$ 179.9 $ 103.4 $ (200.8) ========= ========= ========= Per Common Share Data (6) Earnings (loss) from continuing operations....... $ 2.37 $ 1.38 $(1.48) Net earnings (loss).............................. 2.32 1.33 (2.60) Dividends declared............................... .55 .49 .43 Book value....................................... 15.12 13.05 11.77 Weighted average common shares (in millions)..... 77.5 77.6 77.4 Years ended June 30, ------------------------------- 1992 (2) 1991 (3) 1990 (4) -------- -------- -------- Net sales........................................$1,702.9 $1,633.9 $1,424.6 Earnings (loss) from continuing operations.......$ 128.8 $ 97.2 $ 55.3 Earnings (loss) from discontinued operations(5).. (1.3) (9.0) 1.2 Cumulative effects of accounting changes......... --------- --------- --------- Net earnings (loss).............................. 127.5 88.2 56.5 Preferred stock dividends........................ (.4) (.4) (4.2) --------- --------- --------- Available for common shareholders................$ 127.1 $ 87.8 $ 52.3 ========= ========= ========= Per Common Share Data (6) Earnings (loss) from continuing operations....... $ 1.65 $ 1.37 $ .79 Net earnings (loss).............................. 1.63 1.24 .81 Dividends declared............................... .38 .33 .33 Book value....................................... 16.02 14.42 11.97 Weighted average common shares (in millions)..... 77.8 70.6 65.0 OTHER DATA Years ended June 30, -------------------------------- 1995 1994 (1) 1993 (1) -------- -------- --------- Total assets................................... $2,720.6 $2,433.5 $2,177.6 Working capital................................ 271.8 261.3 203.7 Current ratio.................................. 1.4:1 1.4:1 1.3:1 Total debt..................................... $ 699.0 $ 669.8 $ 617.0 Net deferred income tax (assets) liabilities... 25.7 (40.9) (36.0) Shareholders' equity........................... 1,171.5 1,015.9 910.5 Invested capital............................... 1,870.5 1,685.7 1,527.5 Total debt/invested capital.................... 37% 40% 40% Capital expenditures........................... $ 160.8 $ 172.3 $ 188.3 Total dividends declared....................... 42.2 37.7 33.2 Common shares outstanding (in millions)........ 76.8 77.0 76.4 Number of employees............................ 10,300 10,200 10,000 Years ended June 30, -------------------------------- 1992 (2) 1991 (3) 1990 (4) -------- -------- --------- Total assets................................... $2,050.8 $2,250.2 $2,130.9 Working capital................................ 351.6 409.0 311.1 Current ratio.................................. 1.8:1 1.6:1 1.8:1 Total debt..................................... $ 373.7 $ 643.4 $ 837.4 Net deferred income tax (assets) liabilities... 41.7 48.0 52.9 Shareholders' equity........................... 1,224.2 1,084.2 824.8 Invested capital............................... 1,597.9 1,727.6 1,662.2 Total debt/invested capital.................... 23% 37% 50% Capital expenditures........................... $ 150.4 $ 123.4 $ 85.7 Total dividends declared....................... 29.5 23.7 25.8 Common shares outstanding (in millions)........ 75.7 75.2 68.1 Number of employees............................ 9,500 9,800 9,600
(1) See "Management's Discussion and Analysis" for a description of nonrecurring items. (2) Results for 1992 included an after-tax charge of $2.4 million, or $.03 per share related to the formation of Tastemaker, the flavors joint venture and an after-tax charge of $3.0 million, or $.04 per share related to technical manufacturing control problems at Mallinckrodt Veterinary's Kansas City, Kansas manufacturing facility. These charges were partially offset by an after-tax gain of $6.7 million, or $.08 per share from sales of investments. (3) Results for 1991 included an after-tax gain of $2.0 million, or $.03 per share, from the sale of intangibles at Mallinckrodt Veterinary. (4) Results for 1990 included favorable adjustments from the conclusion of income tax audits that amounted to $11.9 million after taxes, or $.18 per share. That benefit was partially offset by restructuring charges of $4.9 million, $3.0 million after taxes, or $.05 per share, and charges for compensation plans tied to the price of the Company's common stock that amounted to $3.9 million, $2.4 million after taxes, or $.04 per share. (5) See Note 1 of Notes to Consolidated Financial Statements for information on discontinued operations in 1995, 1994 and 1993. The results for 1992 included a nonrecurring after-tax gain of $.3 million, from net effects related to the IFL stock sales. The results for 1991 included nonrecurring after-tax charges of $2.8 million or $.04 per share, also from net effects related to the IFL stock sales. The results for 1990 included nonrecurring after-tax gains of $5.2 million, or $.08 per share from the sale of the fragrance business. Results for 1992, 1991 and 1990 also included after-tax charges of $1.3 million, or $.02 per share; $6.2 million, or $.09 per share; and $7.6 million, or $.12 per share, respectively, for environmental and litigation costs related to operations previously sold. (6) Presented on a primary per common share basis adjusted for the 3-for-1 stock split in November 1991. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Mallinckrodt Group Inc. ----------------------- (Registrant) By: MICHAEL A. ROCCA By: WILLIAM B. STONE ------------------------- ----------------------------- Michael A. Rocca William B. Stone Senior Vice President and Vice President and Controller Chief Financial Officer Date: November 15, 1995 -----END PRIVACY-ENHANCED MESSAGE-----