-----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, Plyx4Le389GtEvE/yy8fuqrhp9o5mpX5+KwSd6+t5NbGX5jCWQ1u9ctzrPDd8nWH sNTgi/UNT2ldUpr2PpaKbQ== 0000006164-94-000016.txt : 19940707 0000006164-94-000016.hdr.sgml : 19940707 ACCESSION NUMBER: 0000006164-94-000016 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMP INC CENTRAL INDEX KEY: 0000006164 STANDARD INDUSTRIAL CLASSIFICATION: 3679 IRS NUMBER: 230332575 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04235 FILM NUMBER: 94537056 BUSINESS ADDRESS: STREET 1: 470 FRIENDSHIP RD CITY: HARRISBURGH STATE: PA ZIP: 17105 BUSINESS PHONE: 7175640100 MAIL ADDRESS: STREET 1: PO BOX 3608 M.S. 176-41 CITY: HARRISBURG STATE: PA ZIP: 17105 FORMER COMPANY: FORMER CONFORMED NAME: AMP INC & PAMCOR INC DATE OF NAME CHANGE: 19890410 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN METAL PRODUCTS CO DATE OF NAME CHANGE: 19661211 11-K 1 11-K DOCUMENT 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 [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]. For the fiscal year ended December 31, 1993. OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. For the transition period from ____________ to ____________. Commission File Number 1-4235. A. Full title of the plan and the address of the plan, if different from that of the issuer named below: AMP Incorporated Employee Savings and Thrift Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: AMP Incorporated 470 Friendship Road Harrisburg, Pennsylvania 17111 An Exhibit Index is found on Page 4 of 19. Page 1 of 19 REQUIRED INFORMATION The AMP Incorporated Employee Savings and Thrift Plan is a plan that is subject to the Employee Retirement Income Security Act of 1974 ("ERISA"), and therefore the Plan is providing, as Exhibit 1 hereto, Plan financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA. These financial statements include audited statements of net assets available for benefits at December 31, 1993 and at December 31, 1992, and audited statements of changes in net assets available for benefits for the fiscal year ended December 31, 1993. The Plan financial statements have been examined by Arthur Andersen & Co. A currently dated and manually signed written consent of Arthur Andersen & Co. with respect to the Plan financial statements that relate to the fiscal year ended December 31, 1993, which consent and Plan financial documents have been incorporated by reference in a Registration Statement on Form S-8 under the Securities Act of 1933, as amended, is provided as Exhibit 2 to this annual report. Page 2 of 19 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. AMP Incorporated Employee Savings and Thrift Plan (the "Plan") AMP Incorporated (Plan Administrator) /s/ P. G. Guarneschelli Date: June 29, 1994 By:_______________________________ Philip G. Guarneschelli Vice President, Global Human Resources Page 3 of 19 EXHIBIT INDEX EXHIBIT DESCRIPTION PAGE - - ------- ----------- ---- 1 Audited financial statements for AMP Incorporated 5 of 19 Employee Savings and Thrift Plan 2 Consent of Independent Public Accountants 18 of 19 Page 4 of 19 EX-1 2 FINANCIAL STATEMENTS AND AUDITORS REPORTS EXHIBIT 1 AUDITED FINANCIAL STATEMENTS FOR AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN Page 5 of 19 AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN FINANCIAL STATEMENTS AS OF DECEMBER 31, 1993 AND 1992 TOGETHER WITH AUDITORS' REPORT Page 6 of 19 AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN INDEX TO FINANCIAL STATEMENTS AND SCHEDULES DECEMBER 31, 1993 AND 1992 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 1993 and 1992 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1993 Notes to Financial Statements SCHEDULES: Schedule I -- Item 27(a) -- Schedule of Investments as of December 31, 1993 Schedule II -- Item 27(d) -- Schedule of Reportable Transactions for the Year Ended December 31, 1993 Page 7 of 19 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Administrator of the AMP Incorporated Employee Savings and Thrift Plan: We have audited the accompanying statements of net assets available for benefits of the AMP Incorporated Employee Savings and Thrift Plan as of December 31, 1993 and 1992, and the related statement of changes in net assets available for benefits for the year ended December 31, 1993. 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 benefits of the Plan as of December 31, 1993 and 1992, and the changes in net assets available for benefits for the year ended December 31, 1993, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the accompanying index 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 supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ Arthur Andersen & Co. Philadelphia, Pa. June 20, 1994 Page 8 of 19
AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1993 The Vanguard Group Funds --------------------------------------------------------------------- World Fund AMP Fixed Money Market Index Trust Windsor U.S. Income AMP Stock ASSETS Total Prime Wellington 500 II PrimeCap Growth Fund Fund Loan Fund ------ ----- ----- ---------- --------- ------- -------- ------ ---- ---- --------- INVESTMENTS, at market (Notes 2 and 3): Commingled trusts $138,813,757 $12,058,279 $15,208,545 $72,958,072 $13,161,848 $6,942,568 $6,698,886 $11,785,506 $ 53 $ -- Common stock 22,839,509 -- -- -- -- -- -- -- 22,839,509 -- Participant loans (Note 1) 20,681,677 -- -- -- -- -- -- -- -- 20,681,677 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- 182,334,943 12,058,279 15,208,545 72,958,072 13,161,848 6,942,568 6,698,886 11,785,506 22,839,562 20,681,677 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- DEPOSITS WITH INSURANCE COMPANIES, at contract value 179,699,792 -- -- -- -- -- -- 179,699,792 -- -- (Notes 2 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- and 4) Total investments 362,034,735 12,058,279 15,208,545 72,958,072 13,161,848 6,942,568 6,698,886 191,485,298 22,839,562 20,681,677 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- RECEIVABLES: Employer contributions 134,827 4,848 6,961 22,997 5,842 3,356 4,475 59,498 26,850 -- (Note 1) Employee deposits 423,152 17,213 27,776 97,021 23,473 12,910 16,822 222,851 5,086 -- (Note 1) Accrued interest and dividends 1,715 -- -- -- -- -- -- 1,113 602 -- Other 234,433 -- -- -- -- -- -- -- 208,168 26,265 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- Total receivables 794,127 22,061 34,737 120,018 29,315 16,266 21,297 283,462 240,706 26,265 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- TOTAL ASSETS 362,828,862 12,080,340 15,243,282 73,078,090 13,191,163 6,958,834 6,720,183 191,768,760 23,080,268 20,707,942 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- LIABILITIES PAYABLES: Investments 80,116 -- -- -- -- -- -- -- 80,116 -- purchased ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $362,748,746 $12,080,340 $15,243,282 $73,078,090 $13,191,163 $6,958,834 $6,720,183 $191,768,760 $23,000,152 $20,707,942 ============ =========== =========== =========== =========== ========== ========== ============ =========== =========== The accompanying notes and schedules are an integral part of this statement.
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AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1992 The Vanguard Group Funds --------------------------------------------------------------------- World Fund AMP Fixed Money Market Index Trust Windsor U.S. Income AMP Stock ASSETS Total Prime Wellington 500 II PrimeCap Growth Fund Fund Loan Fund ------ ----- ----- ---------- --------- ------- -------- ------ ---- ---- --------- INVESTMENTS, at market (Notes 2 and 3): Commingled trusts $107,033,350 $13,006,837 $ 7,718,009 $63,998,268 $ 5,138,056 $3,227,190 $7,478,840 $ 6,222,008 $ 244,142 $ -- Common stock 16,744,020 -- -- -- -- -- -- -- 16,744,020 -- Participant loans (Note 1) 17,635,522 -- -- -- -- -- -- -- -- 17,635,522 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- 141,412,892 13,006,837 7,718,009 63,998,268 5,138,056 3,227,190 7,478,840 6,222,008 16,988,162 17,635,522 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- DEPOSITS WITH INSURANCE COMPANIES, at contract value 167,091,029 -- -- -- -- -- -- 167,091,029 -- -- (Notes 2 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- and 4) Total investments 308,503,921 13,006,837 7,718,009 63,998,268 5,138,056 3,227,190 7,478,840 173,313,037 16,988,162 17,635,522 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- RECEIVABLES: Employer contributions 107,202 4,396 3,753 21,440 2,358 1,715 3,752 45,132 24,656 -- (Note 1) Employee deposits 325,011 16,251 15,601 88,078 10,400 6,500 14,625 173,556 -- -- (Note 1) Accrued interest and dividends 3,430 -- -- -- -- -- -- 3,060 370 -- Other 12,165 1,660 310 1,960 70 -- 30 -- 8,135 -- ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- Total receivables 447,808 22,307 19,664 111,478 12,828 8,215 18,407 221,748 33,161 -- ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- TOTAL ASSETS 308,951,729 13,029,144 7,737,673 64,109,746 5,150,884 3,235,405 7,497,247 173,534,785 17,021,323 17,635,522 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- LIABILITIES PAYABLES: Investments 156,681 -- -- -- -- -- -- -- 156,681 -- purchased ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $308,795,048 $13,029,144 $ 7,737,673 $64,109,746 $ 5,150,884 $3,235,405 $7,497,247 $173,534,785 $16,864,642 $17,635,522 ============ =========== =========== =========== =========== ========== ========== ============ =========== =========== The accompanying notes and schedules are an integral part of this statement.
Page 10 of 19
AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1993 The Vanguard Group Funds --------------------------------------------------------------------- World Fund AMP Fixed Money Market Index Trust Windsor U.S. Income AMP Stock Total Prime Wellington 500 II PrimeCap Growth Fund Fund Loan Fund ----- ----- ---------- --------- ------- -------- ------ ---- ---- --------- ADDITIONS: Investment income- Net appreciation (depreciation) in market value of investments (Note 3) $ 7,716,588 $ -- $557,189 $4,568,000 $359,450 $536,690 ($221,154) $ -- $1,916,413 $ -- Interest and dividends 17,580,782 354,731 822,834 1,870,863 687,465 225,617 92,259 11,542,140 525,533 1,459,340 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- 25,297,370 354,731 1,380,023 6,438,863 1,046,915 762,307 (128,895) 11,542,140 2,441,946 1,459,340 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- Contributions and deposits (Note 1) Employer 8,979,075 262,607 448,873 1,712,948 337,513 185,929 337,677 3,726,545 1,966,983 -- Employees 29,893,259 1,412,063 1,846,517 7,609,289 1,431,916 766,497 1,345,702 15,195,045 286,230 -- ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- 38,872,334 1,674,670 2,295,390 9,322,237 1,769,429 952,426 1,683,379 18,921,590 2,253,213 -- ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- Total additions 64,169,704 2,029,401 3,675,413 15,761,100 2,816,344 1,714,733 1,554,484 30,463,730 4,695,159 1,459,340 DEDUCTIONS: Payments to participants 11,416,991 515,620 258,291 1,572,870 186,960 57,552 236,563 7,658,307 629,332 301,496 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- 52,752,713 1,513,781 3,417,122 14,188,230 2,629,384 1,657,181 1,317,921 22,805,423 4,065,827 1,157,844 INTERFUND TRANSFERS - - --NET -- (2,462,585) 4,074,687 (5,339,488) 5,103,717 2,066,248 (2,106,856) (5,285,842) 2,069,683 1,880,436 TRANSFER OF ASSETS FROM ACQUIRED COMPANY (Note 7) 1,200,985 -- 13,800 119,602 307,178 -- 11,871 714,394 -- 34,140 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- Net additions 53,953,698 (948,804) 7,505,609 8,968,344 8,040,279 3,723,429 (777,064) 18,233,975 6,135,510 3,072,420 (deductions) NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 308,795,048 13,029,144 7,737,673 64,109,746 5,150,884 3,235,405 7,497,247 173,534,785 16,864,642 17,635,522 ------------ ----------- ----------- ----------- ----------- ---------- ---------- ------------ ----------- ----------- End of year $362,748,746 $12,080,340 $15,243,282 $73,078,090 $13,191,163 $6,958,834 $6,720,183 $191,768,760 $23,000,152 $20,707,942 ============ =========== =========== =========== =========== ========== ========== ============ =========== =========== The accompanying notes and schedules are an integral part of this statement.
Page 11 of 19 AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1993 AND 1992 1. DESCRIPTION OF PLAN: ------------------- The following description of the AMP Incorporated Employee Savings and Thrift Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions. General ------- The Plan was established effective January 1, 1982 for the benefit of the employees of AMP Incorporated (the Company) and certain subsidiaries and was subsequently amended on numerous occasions, most recently effective as of January 1, 1993. The Plan is a contributory defined contribution plan covering all employees of the Company who have attained age 21 and completed one year of service. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). The Vanguard Fiduciary Trust Company is the trustee of the Plan. Contributions ------------- Participants may defer up to 4% of their gross earnings as a "deferred basic deposit" and up to an additional 8 % as a "deferred supplemental deposit." During 1992, the maximum deferred supplemental deposit was 6%. The Company's matching contribution to the Plan is 60% of the participant's "deferred basic deposit" which is paid out of current and accumulated earnings. Forfeitures in any given year are used to reduce Company matching contributions to the Plan in the following year. Forfeitures from 1992 reducing 1993 Company contributions amounted to $100,000. Forfeitures from 1993 amounted to $80,133 and will be applied against Company contributions in 1994. Investment Elections -------------------- Participants may elect to invest their deferred basic, deferred supplemental deposits and Company matching contributions in one or more of the available funds, which are the Money Market Prime, Wellington, Index Trust 500, Windsor II, PrimeCap, World Fund U.S. Growth, AMP Fixed Income and AMP Stock Fund. Prior to January 1, 1993, participants were not allowed to elect to invest their deferred basic and deferred supplemental deposits in the AMP Stock Fund. Page 12 of 19 Participants' Accounts ---------------------- Each participant's account is credited with the participant's deposits and Company matching contributions and an allocation of the funds' earnings in which the participant participates. Certain participants in the Plan are of an inactive status at year end due to termination or retirement. The number of inactive participants as of December 31, 1993 and 1992 is 1,950 and 1,522 of the total 15,487 and 13,596, respectively. Vesting ------- Participants are immediately vested in their deferred basic and deferred supplemental deposits plus actual earnings thereon. Immediate vesting of Company matching contributions occurs upon a participant's termination by retirement, disability, death or attainment of age 65. Company matching contributions and earnings become 100% vested after five years of continuous service by a participant. Payments to Participants ------------------------ Deferred basic deposits, deferred supplemental deposits and earnings thereon cannot be withdrawn prior to the attainment of age 59 1/2, except in the case of a "financial hardship". Vested Company matching contributions held under the Plan for at least two years and earnings thereon can be withdrawn any time at the request of the participant. Partial or total withdrawal of pre-1983 basic deposits, supplemental deposits, Company matching contributions and earnings by a participant is permitted at his or her request, subject to a minimum withdrawal of $100. Loans to Participants --------------------- Loans against a participant's account balances are secured by a promissory note which bears a fixed interest rate of 1% over the prime rate. The term of the loan is limited to five years and repayment is made through payroll deductions in level amounts over the life of the loan. There are limitations as to the amount that may be borrowed, and prepayment of a loan is allowed. All loans requested prior to December 31, 1993 and 1992 were paid by that date. Administrative Expenses ----------------------- All expenses incurred in the administration of the Plan are paid by the Company and amounted to $330,160 for the year ended December 31, 1993. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: ------------------------------------------ Basis of Accounting ------------------- The accompanying financial statements have been prepared using the accrual basis of accounting. Page 13 of 19 Valuation of Investments ------------------------ Investments, except for the deposits with insurance companies which are carried at contract value, are stated at market value, which is equivalent to current value as of the statement date. Tax Status ---------- The trust established under the AMP Incorporated Employee Savings and Thrift Plan is qualified under the Internal Revenue Code as exempt from federal income taxes. The Plan has received a favorable determination letter from the Internal Revenue Service (IRS) dated August 18, 1993. The Plan sponsor and legal counsel are of the opinion that the Plan, as administered, meets the IRS requirements and, therefore, the trust continues to be tax exempt. Change of Plan Year End ----------------------- During 1992, the Company changed the Plan year end from November 30 to December 31 in order to coincide with the Company's year end. 3. INVESTMENTS: ----------- All Plan investments are held by a trust company administered trust fund and consist of shares of various Vanguard mutual funds, AMP stock, loans receivable and deposits with insurance companies (Note 4). The following is a list of assets which exceed 5% of net assets at December 31, 1993 and 1992. December 31, 1993 December 31, 1992 -------------------------- -------------------------- No. of Shares Market No. of Shares Market Description of or Principal or Contract or Principal or Contract Security Amount Value Amount Value -------------- ------------ ----------- ------------ ----------- Money Market Prime 23,843,838 $23,843,838 19,472,987 $19,472,987 Index 500 Fund 1,664,569 72,958,072 1,562,076 63,998,268 AMP Common Stock 361,814 22,839,509 288,690 16,774,020 Loans Receivable 20,681,677 20,681,677 17,635,522 17,635,522 Vanguard Variable --- --- 15,479,102 15,479,102 Rate GiC Trust, variable rate, due on demand John Hancock GIC, --- --- 15,176,187 15,176,187 8.00% due 9/1/93 4. DEPOSITS WITH INSURANCE COMPANIES: --------------------------------- The Plan has entered into guaranteed investment contracts with various insurance companies (Companies). Under the terms of the contracts, the Companies received all plan year Fixed Income Fund deposits and Page 14 of 19 contributions, or in the case of rollovers, a lump-sum deposit, which they maintain in plan reserve accounts until maturity. At maturity, the balances with interest will be returned to the Plan. The accounts are credited with interest at fixed rates for the respective periods and charged for plan withdrawals and loans. The contracts are included in the financial statements at the December 31, 1993 and 1992 contract values as reported to the Plan by the Companies. 5. PLAN TERMINATION ---------------- The Company anticipates continuing the Plan indefinitely, but reserves the right to reduce, suspend or discontinue its contributions at any time and to discontinue or partially terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts. 6. DISTRIBUTIONS TO PARTICIPANTS: ----------------------------- Distributions to participants are generally made as soon as practical after a request is received by the trustee. There were no distributions due participants at December 31, 1993 and 1992. 7. TRANSFER OF ASSETS FROM ACQUIRED COMPANY: ---------------------------------------- In March 1993, the Company acquired Elf Atochem Sensors, Inc. The employees of the acquired company, who participated in an existing plan, were permitted to make contributions to the Plan beginning April 1. In August, the acquired employees' asset balances were transferred into the Plan from their existing plan. Page 15 of 19
Schedule I AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN EIN #23-0332575 PIN #003 ITEM 27(A) -- SCHEDULE OF INVESTMENTS DECEMBER 31, 1993 Number of Shares Market Value or or DESCRIPTION OF SECURITY Principal Amount Cost Contract Value ----------------------- ---------------- ---- -------------- Commingled Trusts and Common Stock: Money Market Prime 23,843,838 $23,843,838 $23,843,838 Wellington Fund 745,516.93 14,516,333 15,208,545 Index Trust 500 Fund 1,664,569.30 64,333,326 72,958,072 Windsor II Fund 772,408.93 12,752,453 13,161,848 PrimeCap Fund 376,903.80 6,372,969 6,942,568 World Fund--U.S. Growth 448,686.27 6,573,434 6,698,886 AMP Common Stock 361,814 18,456,307 22,839,509 ------------ ------------ Total Commingled Trusts & Common Stock $146,848,660 $161,653,266 ------------ ------------ Deposits with Insurance Companies: AIG Life, 5.00%, due 8/31/94, 8/31/96 & 8/31/98 8,129,359 $8,129,359 $8,129,359 CIGNA, 6.80%, due 4/1/96 10,508,151 10,508,151 10,508,151 Confederation, 6.16%, due 6/30/97 10,307,617 10,307,617 10,307,617 Continental, 6.65%, due 11/1/94 & 11/1/96 11,018,762 11,018,762 11,018,762 Continental, 6.05%, due 6/30/95 5,462,743 5,462,743 5,462,743 Continental, 6.30%, due 12/31/95 & 12/31/97 10,633,559 10,633,559 10,633,559 Hartford, 6.56%, due 3/31/94 & 3/31/97 11,349,105 11,349,105 11,349,105 Hartford, 6.22%, due 9/30/94 & 9/30/95 11,243,586 11,243,586 11,243,586 Metropolitan Life, 5.09%, due 3/23/95 & 3/23/98 10,391,025 10,391,025 10,391,025 NY Life, 5.20%, due 11/2/98 12,102,096 12,102,096 12,102,096 NY Life, 8.00%, due 6/30/94 9,279,594 9,279,594 9,279,594 Principal, 5.13%, due 4/30/95 & 4/30/98 10,342,920 10,342,920 10,342,920 Principal, 5.73%, due 6/25/98 8,235,431 8,235,431 8,235,431 Prudential, 9.20%, due 1/1/94 9,212,576 9,212,576 9,212,576 Prudential, 6.01%, due 11/1/97 5,301,348 5,301,348 5,301,348 Prudential, 6.34%, due 10/31/97 5,317,896 5,317,896 5,317,896 Sun Life, 7.12%, due 3/31/96 & 3/31/97 11,468,209 11,468,209 11,468,209 Sun Life, 7.62%, due 4/1/97 5,671,118 5,671,118 5,671,118 Sun Life, 7.47%, due 8/31/97 5,572,235 5,572,235 5,572,235 Sun Life, 5.86%, due 8/31/98 8,152,462 8,152,462 8,152,462 ------------ ------------ Total Deposits with Insurance Companies 179,699,792 179,699,792 Participants Loans 20,681,677 20,681,677 20,681,677 ------------ ------------ TOTAL $347,230,129 $362,034,735 ============ ============ The accompanying notes are an integral part of this schedule.
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Schedule II AMP INCORPORATED EMPLOYEE SAVINGS AND THRIFT PLAN EIN #23-0332575 PIN #003 ITEM 27(D) -- SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1993 Number of Number of Cost of Net Identity of Party Description of Transaction Purchases Sales Purchase Price Selling Price Items Sold Gain/(Loss) - - ----------------- -------------------------- --------- --------- -------------- ------------- ---------- ----------- Vanguard Money Market Reserves Prime Portfolio 251 226 $49,717,944 $46,675,877 $46,675,877 $ -- Vanguard Index 500 Portfolio 227 242 19,405,494 15,013,690 13,756,968 1,256,722 AMP Common Stock 103 78 11,588,907 6,387,318 4,990,553 1,396,765 John Hancock Guaranteed Investment Contract 8 9 775,025 15,951,212 15,951,212 -- No. 5758 Vanguard Variable Rate GIC Trust 11 6 506,584 15,985,686 15,985,686 -- The purchase prices and selling prices of the above transactions represent the current value of the assets on the transaction date. The accompanying notes are an integral part of this schedule.
Page 17 of 19 EX-2 3 AUDITORS CONSENT EXHIBIT 2 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS Page 18 of 19 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS To AMP Incorporated: As independent public accountants, we hereby consent to the incorporation of our report included in this Form 11-k, into the Company's previously filed registration Statement File No. 33-55318. /s/ Arthur Andersen & Co. Philadelphia, Pa. June 29, 1994 Page 19 of 19 -----END PRIVACY-ENHANCED MESSAGE-----