-----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, SsHI+8+6eq0CX+ZDy0sic5JlPgZUMfeNcIcFEFlIisRo8+EyFmFKXiKGfC/iuv6O HprhF0ZQxDOfaMj9vBLmYA== 0000055458-98-000019.txt : 19980701 0000055458-98-000019.hdr.sgml : 19980701 ACCESSION NUMBER: 0000055458-98-000019 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980630 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: KERR MCGEE CORP CENTRAL INDEX KEY: 0000055458 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 730311467 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-03939 FILM NUMBER: 98657658 BUSINESS ADDRESS: STREET 1: KERR MCGEE CTR STREET 2: 123 ROBERT S KERR CITY: OKLAHOMA CITY STATE: OK ZIP: 73102 BUSINESS PHONE: 4052701313 MAIL ADDRESS: STREET 1: P O BOX 25861 CITY: OKLAHOMA CITY STATE: OK ZIP: 73125 FORMER COMPANY: FORMER CONFORMED NAME: KERR MCGEE OIL INDUSTRIES INC DATE OF NAME CHANGE: 19671227 11-K 1 ANNUAL REPORT 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, 1997 Commission File Number 1-3939 Kerr-McGee Corporation Savings Investment Plan (full title of the Plan) Kerr-McGee Corporation Kerr-McGee Center Oklahoma City, Oklahoma 73102 (Name of the issuer of the securities held pursuant to the Plan and address of its principal executive office) REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Kerr-McGee Corporation Benefits Committee: We have audited the accompanying Statement of Net Assets Available for Plan Benefits of the KERR-McGEE CORPORATION SAVINGS INVESTMENT PLAN (the Plan) as of December 31, 1997 and 1996, and the related Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 1997. These financial statements and the 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 available for plan benefits as of December 31, 1997 and 1996, and the changes in its net assets available for plan benefits for the year ended December 31, 1997, 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 Schedule of Assets Held for Investment Purposes as of December 31, 1997, and the supplemental Schedule of Reportable Transactions for the year ended December 31, 1997, are presented for purposes 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 Plan Benefits and Statement of Changes in Net Assets Available for Plan Benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and the changes in net assets available for plan benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the 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) ARTHUR ANDERSEN LLP Oklahoma City, Oklahoma, June 15, 1998 KERR-MCGEE CORPORATION SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31, 1997 (Thousands of dollars)
Kerr-McGee Interest Equity Equity Stock Bond Income Growth Income Balanced Fund Fund Fund Fund Fund Fund ASSETS: Investments, at fair value: Common stock of Kerr-McGee Corporation (993,383 shares, cost $46,055) $62,894 $ $ $ $ $ Units in Putnam Income Fund (271,176 units, cost $1,906) 1,928 Units in Putnam Stable Value Fund (26,758,363 units, cost $26,758) 26,758 Units in Putnam Vista Fund (2,501,916 units, cost $28,656) 29,698 Units in Putnam Growth and Income Fund (2,056,944 units, cost $41,340) 40,193 Units in Putnam Asset Allocation Balanced Fund (460,210 units, cost $5,324) 5,122 Units in Putnam International Growth Fund (315,683 units, cost $5,396) Units in Putnam S&P 500 Index Fund (198,652 units, cost $4,314) Units in Putnam Asset Allocation Growth Fund (137,656 units, cost $1,805) Units in Putnam Asset Alloc. Conservative Fund (42,160 units, cost $439) Loans to participants Short-term investments 17 Total Investments 62,911 1,928 26,758 29,698 40,193 5,122 Dividends receivable 449 Receivable from investments sale 30 Other assets 6 Total Assets 63,396 1,928 26,758 29,698 40,193 5,122 LIABILITIES: Miscellaneous payables 19 NET ASSETS AVAILABLE FOR PLAN BENEFITS $63,377 $1,928 $26,758 $29,698 $40,193 $5,122 The accompanying notes are an integral part of this statement.
(Continued) KERR-MCGEE CORPORATION SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31, 1997 (Thousands of dollars)
Growth Conservative International Index Portfolio Portfolio Loan Fund Fund Fund Fund Account Total ASSETS: Investments, at fair value: Common stock of Kerr-McGee Corporation (993,383 shares, cost $46,055) $ $ $ $ $ $ 62,894 Units in Putnam Income Fund (271,176 units, cost $1,906) 1,928 Units in Putnam Stable Value Fund (26,758,363 units, cost $26,758) 26,758 Units in Putnam Vista Fund (2,501,916 units, cost $28,656) 29,698 Units in Putnam Growth and Income Fund (2,056,944 units, cost $41,340) 40,193 Units in Putnam Asset Allocation Balanced Fund (460,210 units, cost $5,324) 5,122 Units in Putnam International Growth Fund (315,683 units, cost $5,396) 5,262 5,262 Units in Putnam S&P 500 Index Fund (198,652 units, cost $4,314) 4,484 4,484 Units in Putnam Asset Allocation Growth Fund (137,656 units, cost $1,805) 1,697 1,697 Units in Putnam Asset Alloc. Conservative Fund (42,160 units, cost $439) 420 420 Loans to participants 10,654 10,654 Short-term investments 17 Total Investments 5,262 4,484 1,697 420 10,654 189,127 Dividends receivable 449 Receivable from investments sale 30 Other assets 6 Total Assets 5,262 4,484 1,697 420 10,654 189,612 LIABILITIES: Miscellaneous payables 19 NET ASSETS AVAILABLE FOR PLAN BENEFITS $5,262 $4,484 $1,697 $420 $10,654 $189,593 The accompanying notes are an integral part of this statement.
KERR-MCGEE CORPORATION SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31, 1996 (Thousands of dollars)
Kerr-McGee Interest Equity Equity Inter- Stock Bond Income Growth Income Balanced national Loan Fund Fund Fund Fund Fund Fund Fund Account Total ASSETS: Investments, at fair value: Common stock of Kerr-McGee Corporation (1,025,388 shares, cost $36,993) $73,828 $ $ $ $ $ $ $ $ 73,828 Units in Dreyfus A Bonds Plus Fund (62,409 units, cost $901) 899 899 Units in Capital Preservation Fund (30,538,975 units, cost $30,539) 30,539 30,539 Units in Fidelity Retirement Growth Fund (1,526,186 units, cost $26,512) 26,388 26,388 Units in Fidelity Equity Income Fund (747,486 units, cost $24,983) 32,015 32,015 Units in MFS Total Return A Fund (131,163 units, cost $1,907) 1,940 1,940 Units in Templeton Foreign Fund (307,727 units, cost $2,975) 3,188 3,188 Loans to participants 10,090 10,090 Short-term investments 1,425 2 2 1,429 Total Investments 75,253 899 30,541 26,390 32,015 1,940 3,188 10,090 180,316 Dividends receivable 420 420 Receivable from investments sale 51 50 31 68 111 57 1 369 Other assets 14 14 Total Assets 75,738 949 30,572 26,458 32,126 1,997 3,189 10,090 181,119 LIABILITIES: Miscellaneous payables 54 12 35 8 20 1 130 NET ASSETS AVAILABLE FOR PLAN BENEFITS $75,684 $937 $30,537 $26,450 $32,106 $1,997 $3,188 $10,090 $180,989 The accompanying notes are an integral part of this statement.
KERR-MCGEE CORPORATION SAVINGS INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS For the Year Ended December 31, 1997 (Thousands of dollars)
Nonparticipant- Participant- Directed Directed --------------- --------------------------------------------------------------- Kerr-McGee Kerr-McGee Interest Equity Equity Stock Stock Bond Income Growth Income Balanced Fund Fund Fund Fund Fund Fund Fund Investment income: Dividends $ 616 $ 1,290 $ 75 $ $ 2,208 $ 5,496 $ 441 Interest 222 11 1,773 101 126 35 Net appreciation (depreciation) of investments (2,734) (5,725) 19 3,069 2,357 (33) (2,118) (4,213) 105 1,773 5,378 7,979 443 Employee contributions 3,195 267 1,623 2,502 3,099 1,184 Total additions (reductions) (2,118) (1,018) 372 3,396 7,880 11,078 1,627 Distributions to terminating and withdrawing participants 2,128 4,455 162 3,953 2,245 2,642 333 Loans to participants, net of repayments 483 (32) 443 374 427 (107) Transfers to (from) to other funds 2,105 (749) 2,779 2,013 (78) (1,724) Total deductions (additions) 2,128 7,043 (619) 7,175 4,632 2,991 (1,498) Increase (decrease) in net assets (4,246) (8,061) 991 (3,779) 3,248 8,087 3,125 Net assets available for plan benefits: Beginning of year 27,470 48,214 937 30,537 26,450 32,106 1,997 End of year $23,224 $40,153 $1,928 $26,758 $29,698 $40,193 $5,122 The accompanying notes are an integral part of this statement.
(Continued) KERR-MCGEE CORPORATION SAVINGS INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS For the Year Ended December 31, 1997 (Thousands of dollars)
Participant- Directed --------------------------------------------------------------- Inter- Growth Conservative national Index Portfolio Portfolio Loan Fund Fund Fund Fund Account Total Investment income: Dividends $ 307 $ 1 $ 121 $ 26 $ $ 10,581 Interest 36 53 32 5 2,394 Net appreciation (depreciation) of investments 172 160 (119) (23) (2,857) 515 214 34 8 10,118 Employee contribution 981 1,484 739 146 15,220 Total additions (reductions) 1,496 1,698 773 154 25,338 Distributions to terminating and withdrawing participants 222 54 27 4 509 16,734 Loans to participants, net of repayments (100) (252) (155) (8) (1,073) - Transfers to (from) other funds (700) (2,588) (796) (262) - Total deductions (additions) (578) (2,786) (924) (266) (564) 16,734 Increase (decrease) in net assets 2,074 4,484 1,697 420 564 8,604 Net assets available for plan benefits: Beginning of year 3,188 10,090 180,989 End of year $5,262 $4,484 $1,697 $420 $10,654 $189,593
KERR-McGEE CORPORATION SAVINGS INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1997 AND 1996 (1) DESCRIPTION OF THE PLAN General - The Kerr-McGee Corporation Savings Investment Plan (the Plan) is a defined contribution plan in which eligible employees of Kerr-McGee Corporation and its affiliated companies (collectively referred to as the Company) may participate. The Plan and the trust established thereunder (the Trust) were executed on September 26, 1975, and became fully effective on January 1, 1976. The Plan allows participants to defer taxable earnings through contributions to the Plan as provided for under Section 401(k) of the Internal Revenue Code (the Code), and to borrow from their accounts within the Plan. All employer matching contributions are made to the Employee Stock Ownership Plan (ESOP), which was established in September 1989. All matching contributions are invested in Kerr-McGee Corporation common stock. The ESOP is not part of the Plan; therefore, the employer contributions to the ESOP and the ESOP assets and earnings are not included in the Plan's accompanying financial statements. The maximum Company matching contribution is 6% of salary, and the maximum employee contribution is 15% of salary. Employees are allowed to participate in the Plan from their initial date of employment. Company contributions vest on the basis of 20% for each completed year of vesting service. Vesting service is completed years of Company service reduced in certain limited situations. The Plan is administered by the Kerr-McGee Corporation Benefits Committee (the Committee), which is appointed by the Board of Directors of the Company. Accounting and administration for the Plan are provided by the Company at no cost to the Plan. In addition, all expenses of the Trust are borne by the Company. The participants' contributions to the Plan and earnings thereon are fully vested at all times. The participants' share of the Company contributions and earnings thereon vest on the basis of 20% for each completed year of service. Company contributions are fully vested in the event of retirement, death or disability. Forfeitures may be used to reduce Company contributions or to pay expenses of administration. The Plan or any portion thereof may be discontinued by the Board of Directors of the Company. In the event of such discontinuance or other termination of the Plan, each participant shall be fully vested. The following is a description of the investment options available under the Plan at December 31, 1997 : Kerr-McGee Stock Fund - common stock of the Company. Bond Fund - primarily high quality bonds of corporations. Interest Income Fund - managed income portfolio consisting of a commingled pool of investment contracts issued by insurance companies and other approved institutions. Equity Growth Fund - shares of stock of companies that are believed to have the potential for strong capital growth. Equity Income Fund - stock, bonds and convertible debentures of companies that have had stable profit levels and a record of high dividends. Balanced Fund - equities, bonds, convertible bonds and cash or cash equivalents. International Fund - primarily stocks and bonds of companies and governments outside of the United States. Index Fund - mirrors the performance and composition of Standard & Poor's 500 Composite Index through investments in common stocks. Growth Portfolio - asset allocation for capital appreciation typically consisting of 80% domestic and international stocks and 20% bonds and money market investments. Conservative Portfolio - asset allocation for capital preservation typically consisting of 35% domestic and international stocks and 65% bonds and money market investments. The Kerr-McGee Stock Fund is the only fund consisting of both participant-directed contributions and nonparticipant-directed company matching contributions as follows: Participant- Company Total (Dollars in thousands) Directed Matching Fund 1997 Market Value $ 42,564 $ 20,330 $ 62,894 Shares 672,273 321,110 993,383 1996 Market Value $ 49,202 $ 24,626 $ 73,828 Shares 683,364 342,024 1,025,388 SMART and CAPITAL Savings Programs - All participants participate in the Plan under the SMART and CAPITAL Savings Programs. Participants may direct their savings, up to a maximum of 15% of salary, to be invested in 1% increments among one or more of the funds provided for under the Plan. An unlimited number of transfers are allowed between funds. Contributions to the SMART Savings Program are from a participant's salary, before income taxes. The participant's income taxes on the pre-tax contributions are deferred until the contributions are distributed after termination, at the time of hardship withdrawal, or under minimum distribution rules at age 70 1/2. The annual SMART Savings Program contribution limitation is subject to annual adjustments for inflation and was $9,500 for 1997 in accordance with the Code. Participant contributions in excess of this amount are considered to be contributions to the CAPITAL Savings Program. Contributions to the CAPITAL Savings Program are from a participant's salary, after income taxes. If a participant has authorized less than 15% of their salary to be contributed to the SMART Savings Program, they may contribute the remaining whole percentages up to 15% to the CAPITAL Savings Program. Participant contributions may be invested in the same proportions and the same funds as outlined above for the SMART Savings Program. The maximum contributions allowed to each program may be limited for highly compensated employees, depending upon the balance of contributions at all levels. The Company matches employees' contributions to the Plan up to a maximum of 6% of their salary. The Company contributions are made to the ESOP and invested in Kerr-McGee Corporation common stock. Participants may borrow from the Plan against their contributions to the SMART and CAPITAL Savings Programs and against their vested interest in Company contributions. By administrative rule established by the Committee, new loans to participants bear interest at a fixed rate equal to the national average interest rate for five-year certificates of deposit (as published in The Wall Street Journal), plus 1.5%. Such interest is credited to the participant's accounts in the Plan when repaid. The average interest rate for new loans, which is adjusted quarterly, was 7% for 1997. The minimum loan amount, determined periodically by the Committee, is currently $1,000. The maximum amount of all loans to a participant under the Plan and any other plans of any employer may not exceed the lesser of (a) $50,000, reduced by an amount equal to the difference between (i) the participant's highest loan balance under the Plan during the one-year period ending on the day before the date on which such loan is made and (ii) the outstanding loan balance of the participant under the Plan on the date on which such loan was made or (b) one-half the current value of the participant's vested interest in their accounts. Loans must be repaid within five years from the initial date of the loan, with certain special provisions available for military reservists called to active duty. In the event of a participant's termination of employment and subsequent default on the loan, any outstanding balance will be considered a withdrawal and will be taxable to the participant as prescribed by the Code. (2) SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements have been prepared on the accrual basis of accounting; however, distributions to terminating and withdrawing participants are recorded when paid. Investments are stated at fair value based on quoted market prices. (3) RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 Amounts allocated to participants for withdrawals and distributions that have been processed prior to December 31, but not yet paid as of that date are recorded on the Department of Labor's Annual Return/Report of Employee Benefit Plan (Form 5500) as payables to participants. The following is a reconciliation of net assets available for plan benefits as reported in the accompanying financial statements to the net assets available for plan benefits reported in the Form 5500: December 31, (Thousands of dollars) 1997 1996 -------- ------- Net assets available for benefits per the financial statements $189,593 $180,989 Amounts allocated to withdrawing participants but not yet paid - (309) -------- -------- Net assets available for benefits per Form 5500 $189,593 $180,680 ======== ======== The following is a reconciliation of distributions to terminating and withdrawing participants during the year ended December 31, 1997, as reported in the accompanying financial statements to the Form 5500: For the Year Ended (Thousands of dollars) December 31, 1997 Distributions to terminating and withdrawing participants per the financial statements $16,734 Amounts allocated to withdrawing participants at December 31, 1996, and paid in January 1997 (309) ------- Distributions to terminating and withdrawing participants per Form 5500 $16,425 ======= (4) TAX STATUS The Plan obtained its latest determination letter dated April 29, 1996, in which the Internal Revenue Service stated that the Plan and Trust qualify under Section 401(a) and are entitled to exemption from Federal income taxes under Section 501(a) of the Code. Participants on whose behalf Company contributions were made are not taxed on the amounts contributed by the Company or on any income earned thereon until the receipt of a distribution pursuant to the terms of the Plan. The taxation of income earned on assets of the Plan attributable to participants' contributions to the Plan as well as contributions to the SMART Savings Program is also deferred until distributed. Federal income taxes applicable to participants or their beneficiaries upon distribution are prescribed by the Code. (5) LOANS TO PARTICIPANTS Loan activity during 1997 and 1996 is set forth below: (Thousands of dollars) 1997 1996 ------- ------ Balance at beginning of year $10,090 $10,432 New loans 5,807 5,485 Principal repayments (4,734) (4,997) Loans included as distributions to terminated participants (509) (830) ------- ------- Balance at end of year $10,654 $10,090 ======= ======= Interest income applicable to these loans during 1997 was $666,000 which is reported as interest income in the funds to which the participants are currently contributing. (6) CONTRIBUTIONS Contributions to the Plan during 1997 totaled $15,220,000. This total amount represents contributions made by employees to the SMART and CAPITAL Savings Programs. The Company's matching contributions to the ESOP during 1997 totaled $9,451,000. Common stock of the Company held by the ESOP and allocated to participant's accounts totaled 1,342,843 shares with a market value of $85,015,000 at December 31, 1997. (7) DISTRIBUTIONS TO PARTICIPANTS Distributions to participants are recorded at the approximate market value as of the date of distribution. Terminating participants with more than $3,500 in the Plan may defer distribution until age 70 1/2. Investments relating to these participants remain in the Trust until the terminated participant requests distribution. Participants who defer distribution continue to share in earnings and losses of the Plan. (8) SUBSEQUENT EVENTS In June, 1998, the Company sold its Galatia coal mine. The sale of the Jacobs Ranch mine is expected to be completed early in the third quarter. The company also intends to dispose of the electrolytic and forest products operations of its chemicals business. The effect of the disposals on the net assets of the Plan is not currently known. KERR-McGEE CORPORATION SAVINGS INVESTMENT PLAN LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES (Employer Identification Number 73-0311467) (Plan Number 007) DECEMBER 31, 1997 (Thousands of dollars)
(b) (c) (e) Identity of issue, borrower, Description of investment including maturity date, (d) Current (a)* lessor or similar party rate of interest, collateral, par or maturity value Cost Value ---- ---------------------------- ----------------------------------------------------- ------- ------- * Kerr-McGee Corporation Common Stock - 993,383 shares $46,055 $62,894 * Putnam Investments Putnam Income Fund - 271,176 units 1,906 1,928 * Putnam Investments Putnam Stable Value Fund - 26,758,363 units 26,758 26,758 * Putnam Investments Putnam Vista Fund - 2,501,916 units 28,656 29,698 * Putnam Investments Putnam Growth & Income Fund - 2,056,944 units 41,340 40,193 * Putnam Investments Putnam Asset Allocation Balanced Fund - 460,210 units 5,324 5,122 * Putnam Investments Putnam International Growth Fund - 315,683 units 5,396 5,262 * Putnam Investments Putnam S&P 500 Index Fund - 198,652 units 4,314 4,484 * Putnam Investments Putnam Asset Allocation Growth Fund - 137,656 units 1,805 1,697 * Putnam Investments Putnam Asset Allocation Conservative Fund - 42,160 units 439 420 * Various Participants Participant loans - interest rates from 6.1% to 8.1%, maturity dates from January 1998 to December 2002 10,654 10,654 * Putnam Investments Collective Short-term Investment Fund 17 17 *Party-in-interest
KERR-McGEE CORPORATION SAVINGS INVESTMENT PLAN LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS (Employer Identification Number 73-0311467) (Plan Number 007) FOR THE YEAR ENDED DECEMBER 31, 1997 (Thousands of dollars)
(h) (f) Current Expense value (i) incurred of asset Net (a) No. of (c) (d) (e) with (g) on trans- gain Identity of party (b) trans- Purchase Selling Lease trans- Cost of action or involved Description of asset actions price price rental action asset date loss - -------------------------- -------------------- ------- --------- ------- ------ -------- ------- --------- ---- The Bank of New York Collective Short-Term Investment Fund 70 $10,258 $ - - - $10,258 $10,258 N/A Kerr-McGee Corporation Common Stock 162 10,939 - - - 10,939 10,939 N/A LaSalle National Trust, Capital Preservation N.A. Fund 30 3,083 - - - 3,083 3,083 N/A Fidelity Management Trust Fidelity Retirement Company Growth Fund 28 1,316 - - - 1,316 1,316 N/A Fidelity Management Trust Fidelity Equity Company Income Fund 42 2,991 - - - 2,991 2,991 N/A Putnam Investments Putnam Vista Fund 187 33,421 - - - 33,421 33,421 N/A Putnam Investments Putnam Growth & Income Fund 202 48,279 - - - 48,279 48,279 N/A Putnam Investments Putnam Stable Value Fund 243 32,349 - - - 32,349 32,349 N/A The Bank of New York Collective Short-Term Investment Fund 53 - 11,686 - - 11,686 11,686 - Kerr-McGee Corporation Common Stock 236 - 12,136 - - 7,094 12,136 5,042 LaSalle National Trust, Capital Preservation N.A. Fund 76 - 16,690 - - 16,690 16,690 - Fidelity Management Trust Fidelity Retirement Company Growth Fund 74 - 29,543 - - 27,829 29,543 1,714 Fidelity Management Trust Fidelity Equity Company Income Fund 62 - 38,319 - - 27,974 38,319 10,345 Putnam Investments Putnam Vista Fund 201 - 2,656 - - 2,448 2,656 208 Putnam Investments Putnam Growth & Income Fund 209 - 3,990 - - 3,773 3,990 217 Putnam Investments Putnam Stable Value Fund 220 - 6,134 - - 6,134 6,134 -
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Kerr-McGee Corporation Benefits Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized. KERR-McGEE CORPORATION SAVINGS INVESTMENT PLAN By (JOHN C. LINEHAN) John C. Linehan Chairman of the Kerr-McGee Corporation Benefits Committee Date: June 29, 1998 EX-23 2 CONSENT OF ACCOUNTANT EXHIBIT Consent of Independent Public Accountants As independent public accountants, we hereby consent to the incorporation of our report dated June 15, 1998, included in the Kerr-McGee Corporation Savings Investment Plan 1997 annual report in this Form 11-K, into the Company's previously filed Form S-8 File No. 333-28235. (ARTHUR ANDERSEN LLP) ARTHUR ANDERSEN LLP Oklahoma City, Oklahoma June 29, 1998 -----END PRIVACY-ENHANCED MESSAGE-----