-----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, GXV8diSs5px18rRiGygkohAIzaiKXVWIsIEfFziKbg6e10lMvj2BAmHWBil9qgEx /1+G/P8WqFq88UXYXSlSzA== 0000715633-96-000011.txt : 19960629 0000715633-96-000011.hdr.sgml : 19960629 ACCESSION NUMBER: 0000715633-96-000011 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960627 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: VONS COMPANIES INC CENTRAL INDEX KEY: 0000715633 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 381623900 STATE OF INCORPORATION: MI FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08452 FILM NUMBER: 96587134 BUSINESS ADDRESS: STREET 1: 618 MICHILLINDA AVE CITY: ARCADIA STATE: CA ZIP: 91007 BUSINESS PHONE: 8188217000 MAIL ADDRESS: STREET 1: 618 MICHILLINDA AVENUE CITY: ARCADIA STATE: CA ZIP: 91007 FORMER COMPANY: FORMER CONFORMED NAME: ALLIED SUPERMARKETS INC /MI//NEW/ DATE OF NAME CHANGE: 19870805 11-K 1 UNITED STATES 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 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 1995 ---------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to ------------- ------------- Commission file number 1-8452 ---------------------------------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: The Vons Companies, Inc. 618 Michillinda Avenue Arcadia, California 91007 THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN (formerly known as Vons Personal Choice Profit Sharing Plan) ------------------------------------------------------------ Financial Statements for the Years Ended December 31, 1995, 1994, and 1993 and Financial Schedules for the Year Ended December 31, 1995 (With Independent Auditors' Report Thereon) THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN TABLE OF CONTENTS
Page ----- Independent Auditors' Report 2 Financial Statements: Statements of Net Assets Available for Benefits December 31, 1995 and 1994 3 Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1995, 1994 and 1993 4 Notes to Financial Statements 7 Schedule -------- Line 27d - Schedule of Reportable Transactions for the Year Ended December 31, 1995 1 Line 27a - Assets Held For Investment Purposes at December 31, 1995 2 All other schedules omitted are not applicable or are not required based on disclosure requirements of the Employee Retirement Income Security Act of 1974 and regulations issued by the Department of Labor.
[This page appears on KPMG Peat Marwick LLP letterhead] INDEPENDENT AUDITORS' REPORT The Management Compensation Committee The Vons Companies, Inc.: We have audited the accompanying statements of net assets available for benefits of The Vons Companies, Inc. 401(k) Savings Plan (formerly known as Vons Personal Choice Profit Sharing Plan) as of December 31, 1995 and 1994, and the related statements of changes in net assets available for benefits for each of the years in the three-year period ended December 31, 1995. 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. 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 Vons Companies, Inc. 401(k) Savings Plan as of December 31, 1995 and 1994, and the changes in net assets available for benefits for each of the years in the three-year period ended December 31, 1995 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 supplementary information included in Schedules 1 and 2 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is 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 (ERISA). The separate fund information in the statements of net assets available for benefits and the statements of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and 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 audit 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/ KPMG Peat Marwick LLP June 21, 1996 THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1995 and 1994
1995 1994 ------------ ------------ Fixed Income Fund Account: Cash $ 886,960 $ 746,544 Commercial paper 1,598,187 - Investment contracts 44,987,438 48,887,972 Government and government agency obligations 9,508,706 9,952,340 Corporate debt instruments 4,139,841 2,328,829 Other investments 130,590 - Employer contribution receivable 1,700,906 1,995,907 Employee contribution receivable 124,477 161,630 Investment income receivable 201,970 204,558 Administrative expenses payable (40,778) (36,716) ------------ ------------ Total Fixed Income Fund Account 63,238,297 64,241,064 ------------ ------------ Equity Fund Account: Cash 4,639 3,526 Commingled funds 28,003,444 19,363,958 Employer contribution receivable 1,920,378 1,299,660 Employee contribution receivable 91,097 107,752 Administrative expenses payable (12,277) (8,667) ------------ ------------ Total Equity Fund Account 30,007,281 20,766,229 ------------ ------------ Multi-Asset Fund Account: Cash 146,122 81,924 Commingled funds 11,330,760 8,697,660 Employer contribution receivable 987,623 789,079 Employee contribution receivable 48,584 80,800 Investment income receivable - 18,614 Administrative expenses payable (26,426) (3,391) ------------ ------------ Total Multi-Asset Fund Account 12,486,663 9,664,686 ------------ ------------ VONStock Fund Account: Cash 415 59,482 Investment in The Vons Companies, Inc. common stock 9,115,399 4,835,897 Employer contribution receivable 877,887 556,997 Employee contribution receivable 39,477 34,644 Administrative expenses payable (4,681) (2,625) ------------ ------------ Total VONStock Fund Account 10,028,497 5,484,395 ------------ ------------ Net assets available for benefits $115,760,738 $100,156,374 ------------ ------------ ------------ ------------ See accompanying notes to these financial statements.
THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1995
FIXED MULTI- INCOME EQUITY ASSET VONSTOCK FUND FUND FUND FUND ACCOUNT ACCOUNT ACCOUNT ACCOUNT TOTAL ----------- ----------- ----------- ----------- ------------ Net assets available for benefits at beginning of year $64,241,064 $20,766,229 $ 9,664,686 $ 5,484,395 $100,156,374 ----------- ----------- ----------- ----------- ------------ Additions: Employee contributions 1,874,075 1,200,227 780,010 528,776 4,383,088 Employer contributions 1,700,906 1,920,378 987,623 877,887 5,486,794 Interest 4,206,648 3,804 9,055 2,476 4,221,983 Dividends - 624,864 447,426 - 1,072,290 Net appreciation in fair value of investments 822,951 6,908,477 1,858,286 3,205,118 12,794,832 Interfund transfers (895,845) 764,596 (139,269) 270,518 - ----------- ----------- ----------- ----------- ------------ Total additions 7,708,735 11,422,346 3,943,131 4,884,775 27,958,987 ----------- ----------- ----------- ----------- ------------ Deductions: Benefits 8,545,031 2,136,399 1,024,703 324,487 12,030,620 Administrative expenses 166,471 44,895 96,451 16,186 324,003 ----------- ----------- ----------- ----------- ------------ Total deductions 8,711,502 2,181,294 1,121,154 340,673 12,354,623 ----------- ----------- ----------- ----------- ------------ Net assets available for benefits at end of year $63,238,297 $30,007,281 $12,486,663 $10,028,497 $115,760,738 ----------- ----------- ----------- ----------- ------------ ----------- ----------- ----------- ----------- ------------ See accompanying notes to these financial statements.
THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1994
FIXED MULTI- INCOME EQUITY ASSET VONSTOCK FUND FUND FUND FUND ACCOUNT ACCOUNT ACCOUNT ACCOUNT TOTAL ----------- ----------- ----------- ----------- ------------ Net assets available for benefits at beginning of year $64,084,005 $19,160,623 $ 8,385,091 $ 3,983,435 $ 95,613,154 ----------- ----------- ----------- ----------- ------------ Additions: Employee contributions 2,030,046 1,329,648 1,020,698 408,338 4,788,730 Employer contributions 1,995,907 1,299,660 789,079 556,997 4,641,643 Interest 4,160,595 3,084 8,401 1,536 4,173,616 Dividends - 545,311 415,444 - 960,755 Net appreciation (depreciation) in fair value of investments (865,056) (242,900) (449,180) 470,918 (1,086,218) Interfund transfers (277,293) (164,440) 86,773 354,960 - ----------- ----------- ----------- ----------- ------------ Total additions 7,044,199 2,770,363 1,871,215 1,792,749 13,478,526 ----------- ----------- ----------- ----------- ------------ Deductions: Benefits 6,736,744 1,131,075 516,481 281,508 8,665,808 Administrative expenses 150,396 33,682 75,139 10,281 269,498 ----------- ----------- ----------- ----------- ------------ Total deductions 6,887,140 1,164,757 591,620 291,789 8,935,306 ----------- ----------- ----------- ----------- ------------ Net assets available for benefits at end of year $64,241,064 $20,766,229 $ 9,664,686 $ 5,484,395 $100,156,374 ----------- ----------- ----------- ----------- ------------ ----------- ----------- ----------- ----------- ------------ See accompanying notes to these financial statements.
THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1993
FIXED MULTI- INCOME EQUITY ASSET VONSTOCK FUND FUND FUND FUND ACCOUNT ACCOUNT ACCOUNT ACCOUNT TOTAL ----------- ----------- ----------- ----------- ----------- Net assets available for benefits at beginning of year $58,003,125 $14,892,813 $ 5,839,645 $ 5,349,166 $84,084,749 ----------- ----------- ----------- ----------- ----------- Additions: Employee contributions 2,682,903 1,165,175 836,662 615,196 5,299,936 Employer contributions 1,527,884 1,018,589 800,320 291,025 3,637,818 Interest 4,217,730 31,198 8,594 2,291 4,259,813 Dividends - 632,154 300,378 - 932,532 Net appreciation (depreciation)in fair value of investments 480,146 1,947,544 354,527 (1,908,300) 873,917 Interfund transfers (398,690) 106,959 441,966 (150,235) - ----------- ----------- ----------- ----------- ----------- Total additions 8,509,973 4,901,619 2,742,447 (1,150,023) 15,004,016 ----------- ----------- ----------- ----------- ----------- Deductions: Benefits 2,269,918 541,593 144,963 205,545 3,162,019 Administrative expenses 159,175 92,216 52,038 10,163 313,592 ----------- ----------- ----------- ----------- ----------- Total deductions 2,429,093 633,809 197,001 215,708 3,475,611 ----------- ----------- ----------- ----------- ----------- Net assets available for benefits at end of year $64,084,005 $19,160,623 $ 8,385,091 $ 3,983,435 $95,613,154 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- See accompanying notes to these financial statements.
THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1. GENERAL DESCRIPTION OF THE PLAN The Vons Companies, Inc. 401(k) Savings Plan (Plan) is a defined contribution plan sponsored by The Vons Companies, Inc. (Vons or Sponsor) subject to the requirements of the Employee Retirement Income Security Act of 1974 (ERISA). All active non-union employees having at least one year of service and not participating in any other qualified defined contribution plan to which the Sponsor contributes are eligible for participation in the Plan. The specific provisions of the Plan, including eligibility, contributions, priorities upon termination and benefit information, are contained in the Plan document which governs the legal operations of the Plan. 2. PLAN AMENDMENT On December 29, 1995, the Sponsor adopted an amendment to the Plan which changed the name of the Plan from Vons Personal Choice Profit Sharing Plan to The Vons Companies, Inc. 401(k) Savings Plan, effective January 1, 1995. The amendment also changes the Sponsor's contribution as described in Notes 4 and 10. 3. SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting ------------------- The accounts of the Plan are maintained on the accrual basis of accounting. Cash and commercial paper include investments with maturities of less than one year for which cost approximates market. Investment contracts are valued at contract value. Contract value represents contributions made under the contract plus interest at the contract rate. Government obligations, corporate debt and other investments in the Fixed Income Fund account are valued at fair value, which are based upon quoted market prices of the underlying assets. The investments of the Equity, Multi-Asset and VONStock Fund accounts are valued at fair value, which are based upon quoted market prices of the underlying assets or upon the trustee's good faith estimate of fair value. The preparation of 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Administrative Expenses ----------------------- Certain administrative expenses incurred by the Plan are absorbed by the Sponsor of the Plan. Such administrative expenses are not significant to the accompanying financial statements. 4. CONTRIBUTIONS Prior to January 1,1995, the Sponsor at its discretion determined the amount of its profit sharing contribution which was allocated to employees based upon their compensation. Employees designated their profit sharing allocation as contributions to the Plan, as contributions to the Sponsor's flexible benefits program, or as taxable compensation. Those employees who elected to contribute their profit sharing allocation to the Plan received a matching contribution from the Sponsor. Effective January 1, 1995, the Plan was amended to make the Sponsor's contribution equal to five percent of the compensation of each eligible participant and to treat such contribution as a Qualifying Non-Elective Contribution. The contribution level may be changed for any plan year by resolution of the Sponsor's Board of Directors or by written action of the Sponsor's Chairman of the Board. The Sponsor's contribution may no longer be allocated to the Sponsor's flexible benefits program or taken as taxable compensation. For the plan year ended December 31, 1995 only, the Sponsor's contribution was six percent of the compensation of each eligible participant. Under the Sponsor's flexible benefits program, employees may contribute any unused amounts into the Plan. In addition, employees may make salary reduction pre-tax contributions. Beginning January 1, 1996, these pre-tax contributions up to a maximum of one percent of the compensation of each eligible participant are matched by the Sponsor. Participants designate the investment funds in which their accounts will be invested. At December 31, 1995 and 1994, forfeited nonvested accounts totaled $71,761 and $86,408, respectively, and were used to reduce employer contributions. 5. INVESTMENT FUNDS The Plan offers four investment funds. The Fixed Income Fund invests in investment contracts, United States and foreign government obligations, corporate fixed income obligations and money market investments. During 1995, 1994 and the latter half of 1993, the Equity Fund was comprised of an investment in a S&P 500 index fund consisting of common stocks of United States companies included in the S&P 500. During the first half of 1993, the Equity Fund primarily included investments in common stocks of United States companies. The Multi- Asset Fund includes investments in a commingled fund comprised of domestic and international stocks and bonds and money market investments. The VONStock Fund invests in common stock of Vons purchased on the open market by a third-party administrator. 6. DERIVATIVE FINANCIAL INSTRUMENTS The Fixed Income Fund, Equity Fund and Multi-Asset Fund may use commonly structured derivative financial instruments (including, but not limited to, futures, options, swaps, caps and floors) to manage transaction costs, interest rate risk, exchange rate risk and maturity risk. Derivative financial instruments may not be used for the sole purpose of yield enhancement and the use of leverage is not permitted. 7. INVESTMENT CONTRACTS Interest rates of investment contracts range from 5.3% to 8.4%. The average yield on investment contracts for the year ended December 31, 1995 was 6.97%. The average crediting interest rate at December 31, 1995 was 6.74%. The fair value of investment contracts at December 31, 1995 was $45,988,560. The aggregate fair value was determined using a standard present value calculation to determine the present value of each cash flow using comparable duration Wall Street Journal GIC index rates. 8. INVESTMENTS IN EXCESS OF FIVE PERCENT OF NET ASSETS Investments in excess of five percent of net assets at December 31, 1995 were as follows:
December 31, 1995 ------------ American National Multiple Fund Investment Trust, 141,841 shares $ 27,793,181 Brinson Global Securities Fund, 67,036 shares 11,330,760 Commonwealth Life Insurance Companies, Investment Contract 11,795,457 The Vons Companies, Inc., Common Stock, 322,669 shares 9,115,399 Investments in excess of five percent of net assets at December 31, 1994 were as follows:
December 31, 1994 ------------ American National Multiple Fund, Investment Trust, 134,865 shares $ 19,229,150 Brinson Global Securities Fund, 64,700 shares 8,697,660
9. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 The following is a reconciliation of net assets available for benefits per the accompanying financial statements to the Form 5500, which is filed with the Internal Revenue Service, for 1995 and 1994:
December 31, December 31, 1995 1994 ------------ ------------ Net assets available for benefits per the financial statements $115,760,738 $100,156,374 Amounts allocated to withdrawing participants (980,092) (1,206,336) ------------ ------------ Net assets available for benefits per the Form 5500 $114,780,646 $ 98,950,038 ------------ ------------ ------------ ------------
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 1995:
Year Ended December 31, 1995 ------------ Benefits paid to participants per the financial statements $ 12,030,620 Amounts allocated to withdrawing participants at December 31, 1995 980,092 Amounts allocated to withdrawing participants at December 31, 1994 (1,206,336) ------------ Benefits paid to participants per the Form 5500 $ 11,804,376 ------------ ------------
Amounts allocated to withdrawing participants, representing benefit claims that have been processed and approved prior to December 31, 1995 but not yet paid as of that date, are reflected as benefits paid on the Form 5500. 10. ALLOCATIONS AND VESTING Investment income net of administrative expenses is allocated to a participant's account monthly based on the proportion each account bears to the total of all account balances. Benefit payments are determined by the plan recordkeeper and disbursed by the trustee after receiving notice from the employer that a participant's beneficial interest has matured due to death, disability, retirement, or separation. Participants are 100% vested in employee contributions and all contributions made by the Sponsor for plan years commencing on or after January 1, 1995 and their profit sharing allocation contributed to the Plan. Participants vest in the Sponsor's pre January 1, 1995 matching contribution as follows:
Years of Percentage Vesting Service Vested --------------- ---------- less than 3 0% 3 20 4 40 5 60 6 80 7 100
11. PLAN TERMINATION Although it has not expressed any intent to do so, the Sponsor 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 the Plan termination, participants will become 100% vested in their accounts. 12. TAX STATUS OF THE PLAN The Plan has previously received a favorable letter of determination from the Internal Revenue Service that the Plan qualifies under section 401(a) and 401(k) of the Internal Revenue Code (Code) and that the trust is exempt from income taxes under section 501(a) of the Code. Vons has applied for an updated letter of determination for its amended and restated plan. Management believes that the plan is designed and is currently being operated in compliance with the applicable requirements of the Code. SCHEDULE 1 THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1995
IDENTITY CURRENT VALUE OF PARTY DESCRIPTION PURCHASE COST OF OF ASSETS INVOLVED OF ASSET PRICE ASSET AT PURCHASE - -------------------------------------------------------------------------------------- Purchases: - --------- Union Bank Stepstone Funds Money Market Fund 74,308,308 74,308,308 74,308,308 United States Treasury Bill, due 3,023,692 3,023,692 3,023,692 Treasury May 2, 1996 United States Treasury Notes, due 4,935,483 4,935,483 4,935,483 Treasury November 15, 2004 Commonwealth Investment Contract 11,593,457 11,593,457 11,593,457 Life Insurance Company CURRENT IDENTITY VALUE OF PARTY DESCRIPTION SELLING COST OF OF ASSETS NET GAIN INVOLVED OF ASSET PRICE ASSET AT SALE (LOSS) - ------------------------------------------------------------------------------------------ Sales: - ----- Union Bank Stepstone Funds Money Market Fund 74,161,648 74,161,648 74,161,648 - United States Treasury Bill, due 3,023,692 3,023,692 3,023,692 - Treasury May 2, 1996 United States Treasury Notes, due 5,956,791 5,888,543 5,956,791 68,248 Treasury November 15, 2004 See accompanying independent auditors' report.
SCHEDULE 2 THE VONS COMPANIES, INC. 401(K) SAVINGS PLAN LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1995
NUMBER OF SHARES OR INTEREST CURRENT DESCRIPTION PAR VALUE RATE MATURITY DATE COST VALUE - ---------------------------------------------------------------------------------------------------------- Cash: Union Bank Stepstone Funds Money Market Fund 1,038,136 Units $ 1,038,136 $ 1,038,136 ------------ ------------ Commercial Paper: At&T Discount Commercial 800,000 Units 792,755 792,755 Paper CIT Group Discount Commercial Paper 810,000 Units 805,432 805,432 ------------ ------------ Total Commercial Paper 1,598,187 1,598,187 ------------ ------------ Corporate Debt Instruments: American General Finance Corporation $ 730,000 5.430% February 4, 1999 655,803 725,270 Associates Corporation of North America 500,000 6.125 February 1, 1998 497,055 505,000 Beneficial Corporation 685,000 8.220 June 15, 1998 685,000 724,901 Ford Motor Credit Company 500,000 9.700 October 5, 1998 540,225 551,020 Green Tree Financial Corporation 315,000 6.000 February 15, 2027 314,557 314,556 MBNA Master Credit Card 575,000 6.600 January 15, 2003 573,023 595,165 Merrill Lynch Mortgage Investors, Inc. 250,000 5.400 January 25, 2050 244,453 240,713 Merrill Lynch Mortgage Investors, Inc. 133,561 5.200 April 10, 2014 132,288 132,642 Potomac Electric Power Company 150,000 6.500 September 15, 2005 152,598 155,275 Standard Credit Card Master 190,000 6.750 June 7, 2000 193,592 195,299 ----------- ------------ Total Corporate Debt Instruments 3,988,594 4,139,841 ----------- ------------ Investment Contracts: Allstate Life Insurance Company $2,939,013 8.450% April 4, 1996 2,939,013 2,939,013 Allstate Life Insurance Company 2,170,651 8.160 December 15, 1998 2,170,651 2,170,651 Bankers Trust 3,578,702 5.547 April 25, 1998 3,578,702 3,578,702 Bankers Trust 2,446,991 6.860 February 15, 1999 2,446,991 2,446,991 Capital Holdings Corporation 2,005,596 5.320 December 25, 2003 2,005,596 2,005,596 Capital Holdings Corporation 2,514,826 5.290 April 25, 2004 2,514,826 2,514,826 Commonwealth Life Insurance Company 11,795,457 Variable Open maturity 11,795,457 11,795,457 John Hancock Mutual Life Insurance Company 2,608,987 7.000 December 16, 1996 2,608,987 2,608,987 Life of Virginia 3,573,142 7.240 September 15, 1999 3,573,142 3,573,142 New York Life 2,764,690 7.520 August 16, 1999 2,764,690 2,764,690 Safeco Life Insurance Company 2,625,753 7.200 April 15, 1999 2,625,753 2,625,753 The Travelers Insurance Company 2,918,876 8.440 January 15, 1996 2,918,876 2,918,876 United of Omaha 3,044,754 6.250 October 16, 2000 3,044,754 3,044,754 ------------ ------------ Total Investment Contracts 44,987,438 44,987,438 ------------ ------------ Common Stocks: The Vons Companies, Inc. 322,669 Shares 7,763,673 9,115,399 ------------ ------------ Government and Agency Obligations: Federal Housing Authority Project 701,343 7.430 June 1, 2023 676,468 718,190 Federal National Mortgage Association Debenture 700,000 8.625 November 10, 2004 756,693 772,737 Federal National Mortgage Association Guaranteed Mortgage pass-through Certificate 474,739 7.000 September 1, 2025 468,953 478,448 United States Treasury Notes 530,000 5.875 August 15,1998 527,184 538,363 United States Treasury Notes 2,055,000 5.875 November 15, 2005 2,064,119 2,101,238 United States Treasury Notes 570,000 6.125 May 15, 1998 571,603 581,400 United States Treasury Notes 400,000 6.125 May 31, 1997 402,944 404,876 United States Treasury Notes 3,080,000 6.875 July 31, 1999 3,217,204 3,234,000 United States Treasury Notes 355,000 7.250 February 15, 1998 363,709 369,143 United States Treasury Notes 110,000 5.875 March 31, 1999 109,914 111,959 United States Treasury Notes 175,000 7.500 February 15, 2005 194,141 198,352 ------------ ------------ Total Government and Agency Obligations 9,352,932 9,508,706 ------------ ------------ Commingled Funds: American National Multiple Fund Investment Trust 141,841 Shares 20,656,775 27,793,181 Federated Max-Cap Fund 15,598 228,077 210,263 Brinson Global Securities Fund 67,036 9,525,687 11,330,760 ----------- ------------ Total Commingled Funds 30,410,539 39,334,204 ----------- ------------ Other Investments: Quebec Prov CDA 15,000 7.125 February 9, 2024 14,329 15,085 Quebec Prov CDA 100,000 8.625 January 19, 2005 111,993 115,505 ----------- ------------ 126,322 130,590 ----------- ------------ Total Assets Held for Investment Purposes $99,265,821 $109,852,501 ----------- ------------ ----------- ------------
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. Date: June 26, 1996 The Vons Companies, Inc. 401(K) Savings Plan -------------------------------------------- (Name of Plan) /s/ Pamela K. Knous -------------------------------------------- Pamela K. Knous Chairman of the Pension and Profit Sharing Investment Advisory Committee EXHIBIT INDEX
Exhibit Number Description Numbered Page - -------------- ----------- ------------- 24 Consent of KPMG Peat Marwick LLP
EX-24 2 Exhibit 24 [This page appears on KPMG Peat Marwick LLP letterhead] ACCOUNTANTS' CONSENT -------------------- We consent to use of our report dated June 21, 1996 included in The Vons Companies, Inc. 401(k) Savings Plan Form 11-K incorporated by reference in the Registration Statement on Form S-8 and the related Prospectus pertaining to The Vons Companies, Inc. 401(k) Savings Plan. /s/ KPMG Peat Marwick LLP June 21, 1996 -----END PRIVACY-ENHANCED MESSAGE-----