-----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, WwFysuVl1vrypNxruEiswCvWJrjWOqhoq8FMAihClx5sOBT90JWpM4TE+z53JJtq BhXCh2z+ylFrv5GkSGjwAA== 0000064394-94-000027.txt : 19940610 0000064394-94-000027.hdr.sgml : 19940610 ACCESSION NUMBER: 0000064394-94-000027 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEAD CORP CENTRAL INDEX KEY: 0000064394 STANDARD INDUSTRIAL CLASSIFICATION: 2600 IRS NUMBER: 310535759 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-02267 FILM NUMBER: 94532358 BUSINESS ADDRESS: STREET 1: MEAD WORLD HEADQUARTERS STREET 2: COURTHOUSE PLZ NORTHEAST CITY: DAYTON STATE: OH ZIP: 45463 BUSINESS PHONE: 5134956323 10-K/A 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A [X] AMENDMENT NO. 1 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1993 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ______________ Commission File No. 1-2267 THE MEAD CORPORATION (Exact name of registrant as specified in its charter) Ohio 31-0535759 (State of Incorporation) (I.R.S. Employer Identification No.) MEAD WORLD HEADQUARTERS COURTHOUSE PLAZA NORTHEAST DAYTON, OHIO 45463 (Address of principal executive offices) Registrant's telephone number, including area code: 513-495-6323 Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange Title of Each Class on which Registered ------------------- --------------------- Common Shares Without Par Value New York Stock Exchange and Common Share Purchase Rights Chicago Stock Exchange Pacific Stock Exchange 9% Debentures due 2017 New York Stock Exchange 6 3/4% Convertible Subordinated New York Stock Exchange Debentures due 2012 _________________________ 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. [ ] _________________________ As of January 27, 1994, the aggregate market value of the voting shares held by non-affiliates of the Registrant was approximately $2,749,360,000 determined by multiplying the highest selling price of a Common Share on the New York Stock Exchange--Composite Transactions Tape on such date times the amount by which the total shares outstanding exceeded the shares beneficially owned by directors and executive officers of the Registrant. Such determination shall not, however, be deemed to be an admission that any person is an "affiliate" as defined in Rule 405 under the Securities Act of 1933. The number of Common Shares outstanding at March 1, 1994 was 59,271,120. DOCUMENTS INCORPORATED BY REFERENCE Portions of Registrant's Proxy Statement for the Annual Meeting of Shareholders scheduled to be held on April 28, 1994, are incorporated by reference in Part III; definitive copies of said Proxy Statement were filed with the Securities and Exchange Commission on March 14, 1994. ================================================================================ Pursuant to Rule 15d-21 under the Securities Exchange Act of 1934, the undersigned registrant (the "Registrant") hereby amends its annual report on Form 10-K for the fiscal year ended December 31, 1993 to include the following information and financial statements required by Form 11-K with respect to The Mead Salaried Savings Plan (the "Plan") for the year ended December 31, 1993: THE MEAD SALARIED SAVINGS PLAN TABLE OF CONTENTS - - ---------------------------------------------------------------- Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statement of Net Assets Available for Benefits as of December 31, 1993 2 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1993 3 NOTES TO FINANCIAL STATEMENTS 4-6 SUPPLEMENTAL SCHEDULES: Schedule of Reportable Transactions in Excess of Five Percent of the Current Value of Plan Assets for the Year Ended December 31, 1993 7-9 Schedule of Assets Held for Investment as of December 31, 1993 10-14 EXHIBITS: Independent Auditors' Consent 15 Signatures 16 INDEPENDENT AUDITORS' REPORT Members of the Corporate Benefits Committee The Mead Salaried Savings Plan Dayton, Ohio We have audited the accompanying statements of net assets available for benefits of The Mead Salaried Savings Plan (the 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 are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities and investments owned at December 31, 1993 and 1992, by correspondence with the trustee, State Street Bank & Trust Company. 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, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at 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. As discussed in Note D to the financial statements, the Plan changed its method of accounting for benefits payable to participants who have withdrawn from participation in the plan. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets held for investment as of December 31, 1993 and (2) reportable transactions in excess of five percent of the current value of plan assets for the year ended December 31, 1993, 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. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 1993 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. DELOITTE & TOUCHE Dayton, Ohio April 7, 1994 THE MEAD SALARIED SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1993 AND DECEMBER 31, 1992 DECEMBER 31, DECEMBER 31, 1993 1992 -------------- -------------- ASSETS - - ---------------------------------------- Investments in securities (Note E): Mead Common Shares $140,636,047 $117,045,000 Other 112,388,444 86,009,153 Investments in Federal Agency Obligations 52,795,556 58,456,587 Loans to Participants 9,982,447 7,182,162 Cash and temporary cash investments 7,249,947 1,102,627 Due from employer 3,446,071 3,095,399 Interest and dividends receivable 955,880 694,870 -------------- -------------- Net Assets 327,454,392 273,585,798 -------------- -------------- LIABILITIES - - ---------------------------------------- Distributions due to Plan participants (Note D) 2,209,027 -------------- -------------- Net Assets Available for Benefits $327,454,392 $271,376,771 ============== ============== See notes to financial statements. THE MEAD SALARIED SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1993
INTEREST EQUITY EQUITY MEAD COMMON LOAN INCOME FUND GROWTH FUND INCOME FUND STOCK FUND ACCOUNT TOTAL -------------- -------------- -------------- -------------- ------------- ------------- INCREASES IN NET ASSETS: Contributions: Employees $6,701,408 $9,683,262 $6,153,314 $5,976,380 $ $ 28,514,364 Employee rollovers from other plans 669,958 411,896 217,091 817,561 2,116,506 Employer 12,128,135 12,128,135 Investment Income: Dividends on Mead Common Shares 3,112,365 3,112,365 Interest 2,731,413 825 544 25,465 2,758,247 Other dividends 7,273,005 3,562,078 10,835,083 Net gain on sale of investments 91,438 133,678 150,277 1,345,704 1,721,097 Unrealized appreciation on investments 145,916 432,853 1,785,816 16,949,795 19,314,380 -------------- -------------- -------------- -------------- ------------- ------------- TOTAL INCREASES 10,340,133 17,935,519 11,869,120 40,355,405 80,500,177 DECREASES IN NET ASSETS: Distributions to withdrawing, terminated or deceased employees 6,547,290 4,930,527 3,263,246 11,122,637 25,863,700 Administrative Fees 254,596 133,862 99,915 279,510 767,883 Interfund Transfers 2,544,601 (2,796,001) (2,346,793) 4,940,117 (2,341,924) -------------- -------------- -------------- -------------- ------------- ------------- TOTAL DECREASES 9,346,487 2,268,388 1,016,368 16,342,264 (2,341,924) 26,631,583 -------------- -------------- -------------- -------------- ------------- ------------- NET INCREASE IN NET ASSETS BEFORE CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE 993,646 15,667,131 10,852,752 24,013,141 2,341,924 53,868,594 CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE (Note D) 547,216 564,444 469,594 627,773 2,209,027 -------------- -------------- -------------- -------------- ------------- ------------- NET INCREASE IN NET ASSETS 1,540,862 16,231,575 11,322,346 24,640,914 2,341,924 56,077,621 NET ASSETS - Beginning of Year 60,233,141 50,559,093 35,880,945 117,521,430 7,182,162 271,376,771 -------------- -------------- -------------- -------------- ------------- ------------- NET ASSETS - End of Year $61,774,003 $66,790,668 $47,203,291 $142,162,344 $9,524,086 $327,454,392 ============== ============== ============== ============== ============= ============= See notes to financial statements.
THE MEAD SALARIED SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1993 AND 1992 AND FOR THE YEAR ENDED DECEMBER 31, 1993 A. PLAN DESCRIPTION The Mead Salaried Savings Plan (the "Plan") permits employees of The Mead Corporation (Mead) to participate in a program of personal savings. Generally, employees who are not covered by a collective bargaining agreement are eligible to participate in this Plan. Employees may authorize a payroll withholding of up to 16% of compensation as a contribution to the Plan. During the years ended December 31, 1993 and 1992, Mead's contributions were 60% of each dollar contributed on the first 3% of the participant's gross pay and 40% of each dollar contributed on the next 3% of the participant's eligible gross pay. Mead may make an additional discretionary contribution each year in an amount determined by its Board of Directors. No such discretionary contribution was made in the year ended December 31, 1993 or 1992. Employee and employer contributions are at all times fully vested and nonforfeitable. During the years ended December 31, 1993 and 1992, participants could direct their contributions to different funds of the Plan as described below: Interest Income Fund - Contributions to the Interest Income Fund are invested in diversified high quality, income producing, short-term investments, primarily U.S. Treasury and Government Agency obligations. Equity Growth Fund - Contributions are invested in the Twentieth Century Select Investors Fund managed by Investors Research Corporation. The Twentieth Century Select Investors Fund invests in a diversified equity portfolio with capital growth as its primary objective. Equity Income Fund - Contributions to the Equity Income Fund are invested in the Vanguard Equity Income Fund, which is managed by The Vanguard Group of Investment Companies. The Vanguard Equity Income Fund is a diversified equity portfolio consisting primarily of income producing securities. Mead Common Stock Fund - Contributions are invested in Common Shares of The Mead Corporation. All employer matching contributions are made to this fund. At December 31, 1993, there were approximately 10,000 participants in the Plan, of whom 6,000 had invested in the Interest Income Fund, 7,100 in the Equity Growth Fund, 6,100 in the Equity Income Fund and 10,000 in the Mead Common Stock Fund. Expenses for administering the Plan, including the compensation and expenses of the Plan trustee and trading costs, are paid out of the funds of the Plan. Certain internal administrative expenses are paid by Mead. Mead reserves the right to terminate the Plan at any time, subject to Plan provisions. Upon such termination of the Plan, the remaining assets in the Plan, net of expenses properly charged thereto, shall be distributed to participants or their beneficiaries in cash based upon their interests in the Plan at the termination date. B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Net Realized and Unrealized Gains and Losses on Investments - Realized gains and losses are determined on a first-in, first-out basis utilizing a revalued cost which is calculated based on beginning of the year market values, or purchase price if acquired during the year. Unrealized appreciation (depreciation) is calculated as market value at the end of the year less market value at the beginning of the year, or purchase price if acquired during the year. Investments - Investments are stated at fair value as measured by readily available market prices. C. TAXES The Plan is a "qualified cash or deferred arrangement" under Sections 401(a) and 401(k) of the Internal Revenue Code and, as such, is exempt from Federal income taxes under Section 501(a). All income of the Plan will be distributed to the participants, and no income is taxable to the Plan. Generally, the first 10% of contributed employee compensation, the Mead matching contributions and Plan earnings are not taxable until disbursed to the participants. D. BENEFITS PAYABLE In 1993, the Plan changed its method of accounting for benefits payable to comply with the 1993 AICPA Audit and Accounting Guide, "Audits of Employee Benefit Plans". The new guidance requires that benefits payable to persons who have withdrawn from participation in a defined contribution plan be disclosed in the footnotes to the financial statements rather than be recorded as a liability of the Plan. At December 31, 1993, net assets available for benefits includes benefits of $6,273,706 due to participants who have withdrawn from participation in the Plan. E. NET ASSETS AVAILABLE FOR BENEFITS BY INVESTMENT PROGRAM DECEMBER 31, 1993
NUMBER INTEREST EQUITY EQUITY MEAD COMMON LOAN OF SHARES INCOME FUND GROWTH FUND INCOME FUND STOCK FUND ACCOUNT TOTAL ----------- ------------- ------------- ------------- -------------- ------------- -------------- ASSETS Investments in securities: Mead Common Shares 3,179,828 $ $ $ $140,636,047 $ $140,636,047 Twentieth Century Select Investors Fund 1,668,099 65,823,196 65,823,196 Vanguard Equity Income Fund 3,408,876 46,565,248 46,565,248 Investments in Federal Agency Obligations 52,795,556 52,795,556 Loans to Participants 9,982,447 9,982,447 Cash and temporary cash investments 7,235,495 6,911 5,131 2,410 7,249,947 Due from employer 786,985 960,483 632,854 1,524,110 (458,361) 3,446,071 Interest and dividends receivable 955,967 78 58 (223) 955,880 ------------- ------------- ------------- -------------- ------------- -------------- NET ASSETS $61,774,003 $66,790,668 $47,203,291 $142,162,344 $9,524,086 $327,454,392 ============= ============= ============= ============== ============= ============== December 31, 1992 NUMBER INTEREST EQUITY EQUITY MEAD COMMON LOAN OF SHARES INCOME FUND GROWTH FUND INCOME FUND STOCK FUND ACCOUNT TOTAL ----------- ------------- ------------- ------------- -------------- ------------- -------------- ASSETS Investments in securities: Mead Common Shares 3,060,000 $ $ $ $117,045,000 $ $117,045,000 Twentieth Century Select Investors Fund 1,296,807 50,212,384 50,212,384 Vanguard Equity Income Fund 2,770,648 35,796,769 35,796,769 Investments in Federal Agency Obligations 58,456,587 58,456,587 Loans to Participants 7,182,162 7,182,162 Cash and temporary cash investments 1,074,802 52 27,773 1,102,627 Due from employer 555,155 911,148 553,713 1,075,383 3,095,399 Interest and dividends receivable 693,813 5 5 1,047 694,870 ------------- ------------- ------------- -------------- ------------- -------------- 60,780,357 51,123,537 36,350,539 118,149,203 7,182,162 273,585,798 ------------- ------------- ------------- -------------- ------------- -------------- LIABILITIES Distributions due to Plan participants 547,216 564,444 469,594 627,773 2,209,027 ------------- ------------- ------------- -------------- ------------- -------------- NET ASSETS $60,233,141 $50,559,093 $35,880,945 $117,521,430 $7,182,162 $271,376,771 ============= ============= ============= ============== ============= ==============
The Mead Salaried Savings Plan Schedule of Reportable Transactions For the Year Ended December 31, 1993
ERISA 5500 Schedule of 5% Reportable Series of Transactions From January 1, 1993 to December 31, 1993 Beginning Net Asset Value: $272,242,841.55 5% of Net Asset Value: $ 13,612,142.08 - - -------------------------------------------------------------------------------------------------------------------------- Asset ID Security Description Maturity Date # of Purchases Purchase Cost # Sales Rate Sale Proceeds Total # Total Cost and Proceeds - - -------------------------------------------------------------------------------------------------------------------------- Common and Preferred - - -------------------- 582834107 Mead Corp 30 10,765,412.37 22 5,469,864.19 52 16,235,276.56 582836995 Mead Loan Account 23 5,123,047.48 45 14,057,547.43 68 19,180,594.91 901289207 Twentieth Century Invts Inc 33 14,261,742.67 34 807,639.94 67 15,069,382.61 Common and Preferred Totals - - --------------------------- 86 30,150,202.52 101 20,335,051.56 187 50,485,254.08
The Mead Salaried Savings Plan Schedule of Reportable Transactions For the Year Ended December 31, 1993
ERISA 5500 Schedule of 5% Reportable Series of Transactions From January 1, 1993 to December 31, 1993 Beginning Net Asset Value: $272,242,841.55 5% of Net Asset Value: $ 13,612,142.08 - - -------------------------------------------------------------------------------------------------------------------------- Asset ID Security Description Maturity Date # of Purchases Purchase Cost # Sales Rate Sale Proceeds Total # Total Cost and Proceeds - - -------------------------------------------------------------------------------------------------------------------------- Fixed Income - - -------------------- 912827G63 United States Treas Nts 4.250 8/31/94 2 6,993,386.74 2 14,053,847.66 4 21,047,234.40 912827J60 United States Treas Nts 4.625 2/15/96 1 8,448,562.50 1 8,423,625.00 2 16,872,187.50 912827K27 United States Treas Nts 3.875 3/31/95 2 15,533,515.62 1 999,687.50 3 16,533,203.12 Fixed Income Totals - - --------------------------- 5 30,975,464.86 4 23,477,160.16 9 54,452,625.02
The Mead Salaried Savings Plan Schedule of Reportable Transactions For the Year Ended December 31, 1993
ERISA 5500 Schedule of 5% Reportable Series of Transactions From January 1, 1993 to December 31, 1993 Beginning Net Asset Value: $272,242,841.55 5% of Net Asset Value: $ 13,612,142.08 - - -------------------------------------------------------------------------------------------------------------------------- Asset ID Security Description Maturity Date # of Purchases Purchase Cost # Sales Rate Sale Proceeds Total # Total Cost and Proceeds - - -------------------------------------------------------------------------------------------------------------------------- Common and Preferred - - -------------------- 86 30,150,202.52 101 20,335,051.56 187 50,485,254.08 Fixed Income - - ------------------- 5 30,975,464.86 4 23,477,160.16 9 54,452,625.02 Short Term - - ------------------- 0 0.00 0 0.00 0 0.00 Reportable Transaction Totals - - ----------------------------- 91 61,125,667.38 105 43,812,211.72 196 104,937,879.10 Non-reportable Transaction Totals - - --------------------------------- 268 128,863,931.35 285 115,077,829.05 553 243,941,760.40
The Mead Salaried Savings Plan Schedule of Assets Held for Investment As of December 31, 1993
Composite ERISA 5500 Position Appraisal - - -------------------------------------------------------------------------------------------------------------------------- Security Description Historic Market Fund Units Book Cost Value - - -------------------------------------------------------------------------------------------------------------------------- Corporate Stocks - Common - - -------------------------- 582834107 Mead Corp COM C100 3,179,828 104,698,235 140,636,047
The Mead Salaried Savings Plan Schedule of Assets Held for Investment As of December 31, 1993
Composite ERISA 5500 Position Appraisal ---------------------------------------------------------------------------------------------------------------- Security Description Historic Market Fund Units Book Cost Value ---------------------------------------------------------------------------------------------------------------- Loans To Participants - Other ----------------------------- 702115999 Participants Loans C103 9,982,447 9,982,447 9,982,447
The Mead Salaried Savings Plan Schedule of Assets Held for Investment As of December 31, 1993
Composite ERISA 5500 Position Appraisal ---------------------------------------------------------------------------------------------------------------- Security Description Historic Market Fund Units Book Cost Value ---------------------------------------------------------------------------------------------------------------- Registered Investment Company ----------------------------- 901289207 Twentieth Centy Invs Inc Select Invs Sh C101 1,668,099.252 59,328,254.42 65,823,196.48 921921102 Vanguard Equity Income Fd Inc C106 3,408,876.16 39,012,178.90 46,565,248.37 ------------- ------------- -------------- 5,076,975.41 98,340,433.32 112,388,444.85
The Mead Salaried Savings Plan Schedule of Assets Held for Investment As of December 31, 1993
Composite ERISA 5500 Position Appraisal ---------------------------------------------------------------------------------------------------------------- Security Description Historic Market Fund Units Book Cost Value ---------------------------------------------------------------------------------------------------------------- Corp. Debt Instr. - All Other ----------------------------- 147440AF8 Case Equip Ln Tr Ser 93 Cl A2 4.400 11/15/1998 C104 2,000,000.00 1,996,562.50 2,008,740.00 36187WAA6 GMAC 93 B Grantor Trust 1993 B Cl A 4.000 09/15/1998 C104 2,187,026.88 2,183,746.35 2,181,559.31 486672II1 Swedish Natl Hsing 8.75Pct Nts 24Jan95 USD10000 8.750 01/24/1995 C104 3,450,000.00 3,681,046.50 3,618,187.50 ------------ ------------ ------------ 7,637,026.88 7,861,355.35 7,808,486.81
The Mead Salaried Savings Pl Schedule of Assets Held for Investment As of December 31, 1993
Composite ERISA 5500 Position Appraisal ---------------------------------------------------------------------------------------------------------------- Security Description Historic Market Fund Units Book Cost Value ---------------------------------------------------------------------------------------------------------------- U.S. Government Securities -------------------------- 313313RS9 Fed Farm Cr Bk Cons Dsc Nt 0.010 01/12/1994 C104 3,000,000.00 2,990,490.00 2,990,490.00 313385RQ1 Fed Home Ln Bk Cons Dsc Nt 0.010 01/10/1994 C104 4,000,000.00 3,982,741.11 3,982,741.12 313602FT6 Fed Natl Mtg Assn Remic Remic Tr 1988-23 Cl 23-A 9.850 09/25/2018 C104 220,888.04 225,621.37 220,748.88 912827H54 United States Treas Nts 5.125 11/15/1995 C104 4,000,000.00 3,991,562.50 4,066,880.00 912827K27 United States Treas Nts 3.875 31Mar95 3.875 03/31/1995 C104 14,500,000.00 14,531,353.32 14,504,495.00 912827K76 United States Treas Nts 4.250 15May96 4.250 05/15/1996 C104 2,000,000.00 1,988,125.00 1,993,740.00 912827L75 United States Treas Nts 4.375 08/15/1996 C104 6,700,000.00 6,733,750.01 6,689,548.00 912827VT6 United States Treas Nts DTD 01/15/88 8.625 01/15/1995 C104 8,600,000.00 9,315,686.32 9,017,874.00 912833BT6 U.S. Tres Sc Strp Int Stripped Int Pmt Generic TINT0.010 02/15/1996 C104 9,300,000.00 8,145,591.00 8,493,783.00 ------------- ------------- ------------- 52,320,888.04 51,904,920.63 51,960,300.00
INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Registration Statement Nos. 33-7961 and 33-47580 on Form S-8 of our report dated April 7, 1994, accompanying the financial statements of The Mead Salaried Savings Plan included in the Form 10K/A Amendment No.1 to the Annual Report on Form 10-K of The Mead Corporation for the year ended December 31, 1993. DELOITTE & TOUCHE Dayton, Ohio May 26, 1994 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant and the administrators of the Plan have duly caused this amendment to the Annual Report on Form 10-K to be signed by the undersigned, thereunto duly authorized. THE MEAD CORPORATION (Registrant) Date: May 31, 1994 By: John D. Fuller -------------------------- John D. Fuller Controller and Chief Accounting Officer THE MEAD SALARIED SAVINGS PLAN Date: May 31, 1994 By: James D. Bell -------------------------- James D. Bell Director of Benefits ANNUAL\FORM10KA 053194 -----END PRIVACY-ENHANCED MESSAGE-----