-----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, Enj72l3X27fPblhLbAocFdT/EMT3WQ3fEttE4eIdoCvXmvYYyy6mWRxTSh37hbCn YiURCG5ugRvYwyxe+QjUrQ== 0000950123-94-000816.txt : 19940427 0000950123-94-000816.hdr.sgml : 19940427 ACCESSION NUMBER: 0000950123-94-000816 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19940421 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19940426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEHMAN BROTHERS HOLDINGS INC CENTRAL INDEX KEY: 0000806085 STANDARD INDUSTRIAL CLASSIFICATION: 6211 IRS NUMBER: 133216325 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09466 FILM NUMBER: 94524336 BUSINESS ADDRESS: STREET 1: AMERICAN EXPRESS TWR STREET 2: 3 WORLD FINANCIAL CNTR CITY: NEW YORK STATE: NY ZIP: 10048 BUSINESS PHONE: 2122982000 MAIL ADDRESS: STREET 1: AMERICAN EXPRESS TOWER STREET 2: WORLD FINANCIAL CENTER ATTN GEN COUNSEL CITY: NEW YORK STATE: NY ZIP: 10283 FORMER COMPANY: FORMER CONFORMED NAME: SHEARSON LEHMAN HUTTON HOLDINGS INC DATE OF NAME CHANGE: 19901017 8-K 1 FORM 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C.20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): April 21, 1994 LEHMAN BROTHERS HOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-9466 13-3216325 (Commission File Number) (IRS Employer Identification No.) 3 World Financial Center New York, New York 10285 (Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (212) 298-2000 ---------------------------------------- 2 ITEM 5. OTHER EVENTS. FIRST QUARTER 1994 EARNINGS Filed herewith is preliminary and unaudited Selected Consolidated Financial Information of Lehman Brothers Holdings Inc. ("the Company"), for the quarter ended March 31, 1994, which information will be superseded by information contained in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 1994.All adjustments which are, in the opinion of management, necessary for a fair presentation of the Selected Consolidated Financial Information for the period presented have been included.Certain amounts for first quarter 1993 reflect reclassifications to conform to the current period's presentation. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits The following Exhibits are filed as a part of this Report. 99.1 Consolidated Statement of Operations (Three Months Ended March 31, 1994) (Preliminary and Unaudited) 99.2 Selected Statistical Information (At March 31, 1994) (Preliminary and Unaudited) The Exhibit Index to this Report is incorporated hereinby reference. -2- 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. LEHMAN BROTHERS HOLDINGS INC. BY: /S/ ROBERT MATZA ------------------- ROBERT MATZA CHIEF FINANCIAL OFFICER DATE: APRIL 26, 1994 -3- 4 EXHIBIT INDEX EXHIBIT NO. EXHIBIT Exhibit 99.1 Consolidated Statement of Operations (Three Months Ended March 31, 1994) (Preliminary and Unaudited) Exhibit 99.2 Selected Statistical Information (At March 31, 1994) (Preliminary and Unaudited) EX-99.1 2 CONSOLIDATED STATEMENT OF OPERATIONS 1 EXHIBIT 99.1 2 LEHMAN BROTHERS HOLDINGS INC. CONSOLIDATED STATEMENT OF OPERATIONS (PRELIMINARY AND UNAUDITED) (IN MILLIONS)
Three Months Three Months Ended March 31, 1993 Ended --------------------------------- March 31, Lehman Businesses 1994 Businesses Sold Historical ---- ---------- ---- ---------- Revenues: Commissions $ 141 $ 116 $ 364 $ 480 Market Making and Principal Transactions 434 433 155 588 Investment Banking 175 164 64 228 Interest and Dividends 1,527 1,305 66 1,371 Other 17 19 171 190 ------ ------ ------ ------ Total Revenues 2,294 2,037 820 2,857 Interest Expense 1,453 1,208 62 1,270 ------ ------ ------ ------ Net Revenues 841 829 758 1,587 ------ ------ ------ ------ Non-Interest Expenses: Compensation and Benefits 450 461 509 970 Communications 50 46 51 97 Occupancy and Equipment 42 41 41 82 Depreciation and Amortization 31 24 20 44 Advertising and Market Development 31 31 16 47 Brokerage, Commissions and Clearance Fees 45 39 (9) 30 Professional Services 42 35 17 52 Other 29 48 51 99 Severance 33 0 0 0 Loss on Sale of Shearson 0 0 535 535 Reserves for Non-Core Businesses 0 32 120 152 ------ ------ ------ ------ Total Non-Interest Expenses 753 757 1,351 2,108 ------ ------ ------ ------ Income (Loss) from Continuing Operations Before Accounting Change 88 72 (593) (521) Income Tax Provision 33 38 81 119 ------ ------ ------ ------ Income (Loss) from Continuing Operations Before Accounting Change and Preferred Dividends 55 34 (674) (640) Income from Discontinued Operations, Net: Income from Operations 0 0 24 24 Gain on Disposal 0 0 165 165 ------ ------ ------ ------ Income (Loss) before Accounting Change and Preferred Dividends 55 34 (485) (451) Change in Accounting Principle, Net (13) 0 0 0 ------ ------ ------ ------ Net Income (Loss) 42 34 (485) (451) Preferred Stock Dividends 12 12 0 12 ------ ------ ------ ------ Net Income (Loss) Applicable to Common Shares $ 30 $ 22 $ (485) $(463) ====== ====== ====== ====
Note: Certain prior year amounts have been reclassified to conform to the current year's presentation. EX-99.2 3 SELECTED STATISTICAL INFORMATION 1 EXHIBIT 99.2 2 LEHMAN BROTHERS HOLDINGS INC. SELECTED STATISTICAL INFORMATION (PRELIMINARY AND UNAUDITED)
(Amounts in millions, except percentages and where indicated) Three Months Ended March 31, -------------------- Percentage 1994 1993 Inc/(Dec) ---- ---- --------- Total Stockholders' Equity $2,033 $1,906 6.7% Tangible Equity $1,762 $1,609 9.5% Return on Average Common Equity* 17.1% -- --
*Calculated before the accounting change. -----END PRIVACY-ENHANCED MESSAGE-----