-----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, F6JwRNwfJrxo2kqwrz2+VwBoolsfRgakch7iZJhMIq4sUtB9y5m8Xayc3/ApOtss LF2vK5isvhEbxBwoUs0ZlQ== 0000005187-96-000009.txt : 19960701 0000005187-96-000009.hdr.sgml : 19960701 ACCESSION NUMBER: 0000005187-96-000009 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960628 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN HOME PRODUCTS CORP CENTRAL INDEX KEY: 0000005187 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 132526821 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01225 FILM NUMBER: 96587822 BUSINESS ADDRESS: STREET 1: 5 GIRALDA FARMS CITY: MADISON STATE: NJ ZIP: 07940 BUSINESS PHONE: 201-660-5000 11-K 1 U.S. PLAN ===================================================================== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ANNUAL REPORT Pursuant to Section 15 (d) of the Securities Exchange Act of 1934 for the year ended December 31, 1995 AMERICAN HOME PRODUCTS CORPORATION SAVINGS PLAN (Full title of the Plan) AMERICAN HOME PRODUCTS CORPORATION (Name of Issuer of the securities held pursuant to the Plan) Five Giralda Farms Madison, New Jersey 07940 (Address of principal executive office) ===================================================================== SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized. AMERICAN HOME PRODUCTS CORPORATION /S/ John R. Considine By: --------------------------- John R. Considine Vice President - Finance Date: June 27, 1996 SIGNATURE ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the American Home Products Corporation Savings Plan Committee has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized. AMERICAN HOME PRODUCTS CORPORATION SAVINGS PLAN /S/ Thomas M. Nee By: ------------------------------- Thomas M. Nee Chairman of the American Home Products Corporation Savings Plan Committee Date: June 27, 1996 AMERICAN HOME PRODUCTS CORPORATION SAVINGS PLAN FINANCIAL STATEMENTS AS OF DECEMBER 31, 1995 AND 1994 TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS EMPLOYER IDENTIFICATION NUMBER - 13-2526821 PLAN NUMBER - 045 AMERICAN HOME PRODUCTS CORPORATION SAVINGS PLAN DECEMBER 31, 1995 AND 1994 INDEX PAGE ------ Report of Independent Public Accountants Statements of Net Assets Applicable to Participants' Equity as of December 31, 1995 and 1994 7 - 8 Statement of Changes in Net Assets Applicable to Participants' Equity for the Year Ended December 31, 1995 9 Notes to Financial Statements as of December 31, 1995 and 1994 10 - 14 Supplemental Schedules: I. Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1995 15 II. Item 27d - Schedule of Reportable Transactions for the Year Ended December 31, 1995 16 Consent of Independent Public Accountants REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS ---------------------------------------- To the Participants and Savings Plan Committee of the American Home Products Corporation Savings Plan: We have audited the accompanying statements of net assets applicable to participants' equity of the American Home Products Corporation Savings Plan as of December 31, 1995 and 1994, and the related statement of changes in net assets applicable to participants' equity for the year ended December 31, 1995. These financial statements and the supplemental schedules referred to below are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements and schedules 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. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets applicable to participants' equity of the American Home Products Corporation Savings Plan as of December 31, 1995 and 1994, and the changes in net assets applicable to participants' equity for the year ended December 31, 1995, 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 statements of net assets applicable to participants' equity and statement of changes in net assets applicable to participants' equity is presented for purposes of additional analysis rather than to present the net assets applicable to participants' equity and statement of changes in net assets applicable to participants' equity 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. ARTHUR ANDERSEN LLP New York, New York June 19, 1996 American Home Products Corporation Savings Plan Statement of Net Assets Applicable to Participants' Equity As of December 31, 1995
Fidelity Fidelity International AHPC Common Magellan Fidelity Growth&Income Income Fund Stock Fund Fund Balanced Fund Fund ----------- ----------- --------- ------------- -------------- Cash and Cash Equivalents $ 4,499,107 $ 1,929,783 $ - $ - $ - Investments, at Market Value - 232,297,997 44,834,055 44,034,653 8,266,895 Group Annuity and Other Investment Contracts, at Market Value 318,631,790 - - - - Receivable from Cyanamid Employees' Savings Plan (Note 1) - - - - - Receivable from AHPC 2,680,236 959,705 437,319 913,610 111,021 Loans to Plan Participants - - - - - ------------ ------------ ----------- ---------- ---------- Net Assets Applicable Participants' Equity $325,811,133 $235,187,485 $45,271,374 $4,948,263 $8,377,916 ============ ============ =========== ========== ==========
The accompanying notes to final statements are an integral part of this statement. - -Continuation of the above page- American Home Products Corporation Savings Plan Statement of Net Assets Applicable to Participants' Equity As of December 31, 1995 (Continued)
Receivable Fidelity From Cyanamid U.S. Equity Employees' Portfolio Savings Plan Loan Fund Total Funds ----------- -------------- --------- ----------- Cash and Cash Equivalents $ - $ - $ - $ 6,428,890 Investments, at Market Value 55,970,100 - - 385,403,700 Group Annuity and Other Investment Contracts, at Market Value - - - 318,631,790 Receivable from Cyanamid Employees' Savings Plan (Note 1) - 462,615,394 462,615,394 Receivable from AHPC 1,242,319 - - 6,344,210 Loans to Plan Participants - - 27,257,838 27,257,838 ----------- ------------ ----------- ------------- Net Assets Applicable Participants' Equity $57,212,419 $462,615,394 $27,257,838 $1,206,681,822 =========== ============= =========== ==============
The accompanying notes to final statements are an integral part of this statement. American Home Products Corporation Savings Plan Statement of Net Assets Applicable to Participants' Equity As of December 31, 1994
Fidelity Fidelity International Interest AHPC Common Magellan Fidelity Growth&Income Income Fund Stock Fund Fund Balanced Fund Fund ------------ ------------ --------- ------------- ------------- Cash and Cash Equivalents $2,620,166 $1,726,851 $ - $ - $ - Investments,at Market Value - 151,709,106 12,750,577 38,962,201 4,948,595 Group Annuity and Other Investment Contracts, at Market Value 313,173,625 - - - - Receivable from AHPC 1,431,050 1,201,297 212,265 406,599 96,267 Loans to Plan Participants - - - - - ------------ ------------ ----------- ----------- ---------- Net Assets Applicable to Participants' Equity $317,224,841 $154,637,254 $12,962,842 $39,368,800 $5,044,862 ============ ============ =========== =========== ==========
The accompanying notes to financial statements are an integral part of this statement. - -Continuation of the above page- American Home Products Corporation Savings Plan Statement of Net Assets Applicable to Participants' Equity As of December 31, 1994 (Continued)
Fidelity U.S. Equity Portfolio Loan Fund Total Funds ----------- ----------- ----------- Cash and Cash Equivalents $ - $ - $ 4,347,017 Investments, at Market Value 31,367,965 - 239,738,444 Group Annuity and Other Investment Contracts, at Market Value - - 313,173,625 Receivable from AHPC 359,448 0 3,706,926 Loans to Plan Participants - 26,129,187 26,129,187 ----------- ----------- ----------- Net Assets Applicable to Participants' Equity $31,727,413 $26,129,187 $587,095,199 =========== =========== ============
The accompanying notes to financial statements are an integral part of this statement. American Home Products Corporation Savings Plan Statement of Changes in Net Assets Applicable to Participants' Equity For the year ended December 31, 1995
Fidelity International Interest AHPC Fidelity Fidelity Growth & Income Fund Common Stock Magellan Fund Balanced Fund Income Fund ----------- ------------ ------------- ------------- ----------- Additions Participant Contributions $24,386,746 $13,552,318 $5,990,292 $7,319,871 $1,922,359 Employer Contributions 7,186,096 6,385,178 1,455,065 1,980,517 521,704 Dividend Income on Investments - 7,298,203 2,486,216 1,801,756 261,801 Interest on Group Annuity and Other Investment Contracts and Cash Equivalents 20,571,036 133,390 - - - Net Appreciation on Investments - 82,486,189 4,057,439 3,912,741 472,708 Transfer in from Cyanamid Employees' Savings Plan - - - - - Loan Repayments, Including Interest 6,852,278 2,970,837 748,022 715,623 195,918 ----------- ----------- ---------- ---------- ---------- Total Additions 58,996,156 112,826,115 14,737,034 15,730,508 3,374,490 Deductions: Distributions to Participants (39,295,910) (12,939,475) (1,439,262) (4,139,867) (406,944) Loans Originated (6,964,520) (3,565,657) (412,733) (643,756) (85,202) ----------- ----------- ---------- ----------- ---------- Total Deductions (46,260,430) (16,505,132) (1,851,995) (4,783,623) (492,146) Net Additions Prior to Interfund Transfers 12,735,726 96,320,983 12,885,039 10,946,885 2,882,344 Transfer between Other Funds (4,149,434) (15,770,752) 19,423,493 (5,367,422) 450,710 ----------- ------------ ----------- ----------- --------- Net Additions 8,586,294 80,550,231 32,308,532 5,579,463 3,333,054 Net Assets Applicable to Participants' Equity: Beginning of year 317,224,841 154,637,254 12,962,842 39,368,800 5,044,862 ------------ ------------ ----------- ----------- ---------- End of year $325,811,133 $235,187,485 $45,271,374 $44,948,263 $8,377,916 ============ ============ =========== =========== ==========
The accompanying notes to financial statements are an integral part of this statement. American Home Products Corporation Savings Plan Statement of Changes in Net Assets Applicable to Participants' Equity For the year ended December 31, 1995
Receivable From Cyanamid Fidelity U.S. Employees' Equity Portfolio Saving Plan Loan Fund Total Funds ---------------- --------------- ----------- ------------ Additions Participant Contributions $7,489,321 $ - $ - $ 60,660,907 Employer Contributions 2,053,566 - - 19,582,126 Dividend Income on Investments 1,276,730 - - 13,124,706 Interest on Group Annuity and Other Investment Contracts and Cash Equivalents - - - 20,704,426 Net Appreciation on Investments 11,952,118 - - 102,881,195 Transfer in from Cyanamid Employees' Savings Plan - 462,615,394 - 462,615,394 Loan Repayments, Including Interest 828,020 - (10,146,383) 2,164,315 ----------- ------------ ----------- ------------ Total Additions 23,599,755 462,615,394 (10,146,383) 681,733,069 Deductions: Distributions to Participants (2,756,343) - (1,168,645) (62,146,446) Loans Originated (771,811) - 12,443,679 - ---------- ------------ ------------ ------------ Total Deductions (3,528,154) - 11,275,034 (62,146,446) Net Additions Prior to Interfund Transfers 20,071,601 462,615,394 1,128,651 619,586,623 Transfer between Other Funds 5,413,405 - - - ---------- ----------- ----------- ----------- Net Additions 25,485,006 462,615,394 1,128,651 619,586,623 Net Assets Applicable to Participants' Equity: Beginning of year 31,727,413 - 26,129,187 587,095,199 ----------- ------------- ----------- ------------- End of year $57,212,419 $462,615,394 $27,257,838 $1,206,681,822 =========== ============= =========== ==============
The accompanying notes to financial statements are an integral part of this statement. AMERICAN HOME PRODUCTS CORPORATION SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 1995 AND 1994 NOTE 1 - PLAN DESCRIPTION ---------------- The following description of the American Home Products Corporation Savings Plan (the "Plan") only provides general information. Participants of the Plan should refer to the Plan document for a more detailed and complete description of the Plan's provisions. General - ------- The Plan, a defined contribution profit-sharing plan, was approved and adopted by the Board of Directors of American Home Products Corporation ("AHPC" or the "Company") on February 28, 1985 and became effective on April 1, 1985. Full or part-time (U.S. paid) employees of the Company and its participating subsidiaries who are not subject to a collective bargaining agreement (non- union) are eligible to participate in the Plan after age 21. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code (the "Code"). Effective December 31, 1995, the non-union participants (transferred participants) of the Cyanamid Employees' Savings Plan (the "ACY Plan") were included in the Plan. The assets attributable to these participants are reflected as a receivable from the ACY Plan at December 31, 1995. On January 3, 1996, the Plan received amounts due from the ACY Plan and invested them in the Interest Income Fund Fidelity Balanced Fund and the Fidelity U.S. Equity Index Portfolio. Thereafter, the transferred participants could elect to transfer their account balance into the Plan's investment options, in accordance with the Plan provisions. The transferred participants account balances became vested at the date of transfer. Future company matching contributions will vest according to the Plan's provisions, unless the transferred participants completed three or more years of service, in which case all future contributions will be vested at the better of each plan's vesting schedules. Contributions - ------------- Participants may elect to make contributions to the Plan in whole percentages up to a maximum of 16% of the participants' compensation, as defined in the Plan. Contributions can be made on a before-tax basis ("salary deferral contributions"), an after-tax basis ("after-tax contributions"), or a combination of both. AHPC will contribute in cash to each participant's account an amount equal to 50% of the participant's contributions to the Plan for contributions up to 6% of the participant's compensation. Under the Code, salary deferral contributions, total annual contributions, and the amount of compensation that can be included for Plan purposes are subject to annual limitations. Vesting and Separation From Service - ----------------------------------- Participants are fully vested at all times in amounts in the salary deferral and after-tax accounts. A participant is also fully vested in Company matching contributions if the participant has at least five years of continuous service, as defined by the Plan. If participants have less than five years of continuous service, such participants become vested in matching contribution account according to the following vesting schedule: Vesting Years of Continuous Service Percentage -------------------------- ----------- 1 year completed 0% 2 years completed 25% 3 years completed 50% 4 years completed 75% Regardless of the number of years of continuous service, participants shall be fully vested and receive funds attributable to matching contribution account upon reaching their 65th birthday or upon death, if earlier. In the event participants' employment with AHPC is terminated prior to full vesting, shall receive the vested portion. The non-vested portion of such account is forfeited and becomes available to AHPC to satisfy future Company matching contributions. Withdrawals - ----------- Participants are entitled to withdraw all or any portion of account attributable to after-tax contributions. Participants may make full or partial withdrawals of funds in any accounts upon attaining age 59 1/2 or for financial hardship before that age. Participants may qualify for financial hardship withdrawals if they have an immediate and heavy financial need, as defined in the Plan and determined by the AHPC Savings Plan Committee (the Committee), and have no other funds readily available to meet that need. Participants are limited to one hardship and one non-hardship (e.g. after age 59 1/2 or from the participant's after-tax contribution account) withdrawal each year. Participants cannot make a hardship withdrawal of the earnings on before-tax account balances which are credited on or after January 1, 1989. At December 31, 1995 and 1994, approximately $31,701,000 and $54,416,000, respectively, of the net assets applicable to participants' equity represents the accumulated vested benefits of participants who have withdrawn from the plan but have not yet been paid. Loans - ----- Employees who have vested account balances of at least $2,000 may borrow from the vested portion of their account, subject to certain maximum amounts. Each loan is secured by the borrower's vested interest in their account balance. Participants may have outstanding up to two general purpose loans and one loan to acquire or construct a principal residence. All loans must be repaid within 5 years except for those used to acquire or construct a principal residence, which must be repaid within 10 years. Defaults on participants' loans during the year are treated as withdrawals and are fully taxable to participants. The interest rate charged will be one which provides a return commensurate with a market rate, or such other rate as permitted by government regulations. Amendment to the Plan - --------------------- The Plan was amended during 1994, due to the sales of certain subsidiaries of the Company. Plan participants who continued employment with these companies after the closing date of each agreement became fully vested regardless of their years of continuous service. In addition, the Plan was amended in connection with the ACY Plan transfer of assets and liabilities to the Plan, in order to protect benefits and rights attributable to the transferred participants and effect certain other administrative changes. NOTE 2 - ACCOUNTING POLICIES ------------------- Investment Valuation - -------------------- AHPC's common stock is recorded at fair market value at December 31. Units of participation in the Fidelity Funds are recorded at their published net asset value at December 31. The group annuity and other contracts comprising the Interest Income Fund are recorded at market based upon information supplied by First Fidelity Management Trust Company (the Trustee). Investment transactions are recorded on a trade date basis for transactions recorded by the Trustee. Net realized gains and losses on investments are determined, for accounting purposes, on a moving weighted average basis as of the trade date and are included in net appreciation/ (depreciation) of investments in the accompanying financial statements. The net change in the difference between cost and current market value of investments held is reflected in net appreciation/(depreciation) of investments in the statement of changes in net assets applicable to participants' equity. Administrative Costs - -------------------- All costs and expenses of administering the Plan are paid by AHPC. Receivable from American Home Products Corporation - --------------------------------------------------- The receivable from AHPC at December 31, 1995 and 1994 represents contributions and loan repayments withheld from employees but not remitted to the Trustee until 1996 and 1995, respectively. Use of Estimates - ---------------- The preparation of the Plan's financial statements in conformity with generally accepted accounting principles requires the plan administrator to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results may differ from these estimates. NOTE 3 - INVESTMENTS ----------- Participants can elect to have amounts credited to their account invested in any of six investment funds. Effective June 1, 1994 elections may be made in multiples of 10%. Prior to June 1, 1994 elections had to be made in multiples of 25%. Participants may transfer all, or any part, of the value of their account invested in any of the investment funds to another fund in multiples of 10% or in an amount of at least $250. The six investment options are: AHPC Common Stock Fund - consists primarily of AHPC common stock. Purchases and sales of AHPC common stock are made in the open market. Participants have full voting rights for shares purchased at their direction under the Plan. Interest Income Fund - consists primarily of group annuity contracts issued by life insurance companies and other contracts which pay a specified rate of interest for a fixed period of time and repay principal at maturity. The fund and its contracts are not guaranteed by the Company or any other institution. However, the Committee has established guidelines that provide that contracts be placed with companies rated AA or higher by Moody's and Standard & Poors. The interest rate payable to Plan participants in this fund will be a rate which reflects a blend of the total investments made by the fund. The overall annual return in the Fund was approximately 6.6% for 1995 and 6.0% for 1994. Fidelity Balanced Fund - consists of units invested in a mutual fund managed by Fidelity Management & Research Company which is invested in high yielding securities, including common stocks, preferred stocks and bonds with at least 25% of the Fund's assets in fixed income senior securities. Fidelity U.S. Equity Portfolio - consists of units invested in a mutual fund managed by Fidelity Management & Research Company that seeks to provide investment results that correspond to the total return performance of the companies that make up the Standard & Poor's 500 Index. Fidelity Magellan Fund - Consists of units invested in a mutual fund managed by Fidelity Management and Research Company that seeks long term capital appreciation by actively managing investments in the entire market. Fidelity International Growth and Income Fund - consists of units invested in a mutual fund managed by Fidelity Management and Research Company that seeks long- term growth, and current income by investing in assets, of which at least 65% are in securities of issuers that have their principal business activities outside of the United States. NOTE 4 - MANAGEMENT OF THE PLAN ---------------------- The Plan is administered by the Committee, which was appointed by the Board of Directors of AHPC. Fidelity Management Trust Company was appointed by the Committee as Trustee and record keeper. NOTE 5 - FEDERAL INCOME TAX STATUS ------------------------- The Plan obtained its latest determination letter on November 29, 1995, in which the Internal Revenue Service stated that the Plan, as amended effective December 22, 1994, was in compliance with the applicable requirements of the Code. The Plan has been amended since receiving the determination letter. However, the plan administrator believes that the Plan as currently designed is being operated in compliance with the applicable requirements of the Code. NOTE 6 - PLAN TERMINATION ---------------- Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their accounts and are entitled to full distribution of such amounts. NOTE 7 - INVESTMENTS ----------- The fair market value of individual investments that represent 5% or more of the Plans total net assets as of December 31, 1995 and 1994 are as follows: 1995 1994 ------- ------ American Home Products Corp. Common Stock, 2,394,975 and 2,417,675 shares 232,297,997 151,709,106 New York Life Insurance GAC 6.00% Due 12/29/98 - 31,401,469 GAC 7.82% Due 6/15/99 - 43,418,227 IDS Life Insurance Company pooled separate account of guaranteed insurance contracts with interest rates ranging from 4.54% to 9.66% and with maturities extending from 1995 through 2001. - 50,950,178 Fidelity Balanced Fund - 38,962,201 Fidelity U.S. Equity Portfolio - 31,367,965 SCHEDULE I American Home Products Corporation Savings Plan Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1995 Employer Identification Number - 13-2526821 Plan Number - 045
Cost/ (b) Identity of Issuer: (c) Description of Investment (d) Contract Value (e) Current Value - ---------------------- ----------------------------- ------------------ ----------------- Common Stock: - ------------- American Home Products Corp. 2,394,975 shares $171,896,174 $232,297,997 Common Stock Group Annuity and Investment Contracts: - --------------------------------------- Allstate Life Insurance GIC 6.30% Due 9/15/00 5,086,951 5,086,951 Metropolitan Life Insurance GAC 6.38% Due 6/15/00 22,873,296 22,873,296 GAC 4.36% Due 9/15/96 5,513,415 5,513,415 ----------- New York Life Insurance GAC 5.60% Due 6/30/96 20,272,748 20,272,748 GAC 6.00% Due 12/30/96 30,162,364 30,162,364 GAC 7.47% Due 6/15/98 46,657,285 46,657,285 ----------- John Hancock Mutual Life Insurance GAC 6.00% Due 6/28/96 10,292,519 10,292,519 GAC 4.63% Due 9/15/96 14,419,965 14,419,965 ----------- Prudential Insurance GIC 7.80% Due 3/15/98 16,502,790 16,502,790 GIC 5.50% Due 9/15/96 9,938,592 9,938,592 ---------- 26,441,382 ---------- Peoples Security Life Insurance GIC 7.80% Due 3/15/98 11,003,698 11,003,698 GIC 8.15% Due 4/15/96 43,024,129 43,024,129 GIC 6.74% Due 6/15/00 22,912,804 22,912,804 ---------- Principal Mutual Life Insurance GIC 6.40% Due 3/31/00 39,630,051 39,630,051 Transamerica Life and Annuity GIC 6.24% Due 9/15/96 20,341,183 20,341,183 ----------- ----------- Total Group Annuity and Other Investment Contracts 318,631,790 318,631,790 Mutual Funds: - ------------- Fidelity Magellan Fund 521,447 units 41,679,617 44,834,055 Fidelity Balanced Fund 3,257,000 units 42,533,003 44,034,653 Fidelity International Growth and Income Fund 460,551 units 8,054,715 8,266,895 Fidelity U.S. Equity Portfolio 2,479,844 units 44,957,818 55,970,100 Loans Receivable: - ----------------- Loans to Plan Participants Rates ranging from 7.0% to 10.9%. Due through 2015. 27,257,838 27,257,838
* These amounts are a related party interest. The accompanying notes to financial statements are an integral part of this schedule American Home Products Corporation Savings Plan 'Item 27D - Schedule of Reportable Transactions Employer Identification Number - 13-2526821 Plan Number - 045
(f) EXPENSES (c) INCURRED (a&b)IDENTITY OF PARTY AND PURCHASE (d) SELLING (e) LEASE WITH DESCRIPTION PRICE PRICE RENTALS TRANSACTION - -------------------------- ----------- ------------ --------- ------------ AMERICAN HOME PRODUCTS CORP. COMMON STOCK 251 PURCHASES $51,828,576 0 0 0 249 SALES 0 $61,199,666 0 0 IDS LIFE INSURANCE 13 SALES 52,844,048 0 0 METROPOLITAN LIFE 8 PURCHASES 22,500,000 0 0 0 10 SALES 0 42,940,711 0 0 JOHN HANCOCK MUTUAL 10 SALES 0 39,798,056 0 0 PEOPLES SECURITY LIFE 13 PURCHASES 71,600,000 0 0 6 SALES 0 9,392,349 0 0 PRINCIPAL MUTUAL LIFE 6 PURCHASES 44,200,000 0 0 0 3 SALES 0 5,155,671 0 0 FIDELITY US GOVERNMENT RESERVE FUND 209 PURCHASES 236,787,983 0 0 0 208 SALES 0 235,095,702 0 0 FIDELITY MAGELLAN FUND 248 PURCHASES 39,327,278 0 0 0 203 SALES 0 11,301,240 0 0 FIDELITY BALANCED FUND 246 PURCHASES 17,248,399 0 236 SALES 16,088,687 0 0 FIDELITY US EQUITY INDEX PORTFOLIO 248 PURCHASES 23,511,583 0 224 SALES 10,861,566 0 0
(A) REPORTABLE TRANSACTIONS ARE THOSE PURCHASES AND SALES OF THE SAME SECURITY WHICH, INDIVIDUALLY OR IN THE AGGREGATE, EXCEED 5% OF THE TOTAL PLAN ASSETS AS OF THE BEGINNING OF THE PLAN YEAR The accompanying notes to financial statements are an integral part of this schedule. - - 16 - American Home Products Corporation Savings Plan 'Item 27D - Schedule of Reportable Transactions Employer Identification Number - 13-2526821 Plan Number - 045
AMERICAN HOME PRODUCTS CORP. COMMON STOCK 251 PURCHASES $51,828,576 $51,828,576 0 249 SALES 46,483,758 61,199,666 $14,715,908 IDS LIFE INSURANCE 13 SALES 52,844,048 52,844,048 0 METROPOLITAN LIFE 8 PURCHASES 22,500,000 22,500,000 0 10 SALES 42,940,711 42,940,711 JOHN HANCOCK MUTUAL 10 SALES 39,798,056 39,798,056 0 PEOPLES SECURITY LIFE 13 PURCHASES 71,600,000 71,600,000 6 SALES 9,392,349 9,392,349 0 PRINCIPAL MUTUAL LIFE 6 PURCHASES 44,200,000 44,200,000 3 SALES 5,155,671 5,155,671 0 FIDELITY US GOVERNMENT RESERVE FUND 209 PURCHASES 236,787,983 236,787,983 208 SALES 235,095,702 235,095,702 0 FIDELITY MAGELLAN FUND 248 PURCHASES 39,327,278 39,327,278 203 SALES 10,393,654 11,301,240 907,586 FIDELITY BALANCED FUND 246 PURCHASES 17,248,399 17,248,399 0 236 SALES 16,291,331 16,088,687 (202,644) FIDELITY US EQUITY INDEX PORTFOLIO 248 PURCHASES 23,511,583 23,511,583 0 224 SALES 15,659,902 16,861,566 1,201,664
(A) REPORTABLE TRANSACTIONS ARE THOSE PURCHASES AND SALES OF THE SAME SECURITY WHICH, INDIVIDUALLY OR IN THE AGGREGATE, EXCEED 5% OF THE TOTAL PLAN ASSETS AS OF THE BEGINNING OF THE PLAN YEAR The accompanying notes to financial statements are an integral part of this schedule. - - 16 - CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS ----------------------------------------- As independent public accountants, we hereby consent to the incorporation of our report included in this Form 11-K into the American Home Products Corporation previously filed Form S-3 Registration Statements, No. 33-45324 and 33-57339 and Form S-8 Registration Statements No. 2-96127, 33-24068, 33-53733, 33-41434, 33-55449, 33-45970, 33-14458, 33-50149 and 33-55456. ARTHUR ANDERSEN LLP New York, New York June 27, 1996 -----END PRIVACY-ENHANCED MESSAGE-----