-----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, Ng2TEwMGEGSMhyoxGjkf2gRYDtJtI1uL5NmDBi41pRJ8fEZ6rz67qqzDC93Xi8L+ H4QhNe0PP7UgWdV0nV+7eA== 0001036050-97-000429.txt : 19970701 0001036050-97-000429.hdr.sgml : 19970701 ACCESSION NUMBER: 0001036050-97-000429 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970630 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERISOURCE DISTRIBUTION CORP CENTRAL INDEX KEY: 0000855042 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 232546940 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20485 FILM NUMBER: 97632885 BUSINESS ADDRESS: STREET 1: PO BOX 959 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 2152964480 MAIL ADDRESS: STREET 1: P.O. BOX 959 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: ALCO HEALTH DISTRIBUTION CORP /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: AHSC HOLDINGS CORP DATE OF NAME CHANGE: 19920325 11-K 1 FORM 11-K ANNUAL REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------------- FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) [ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended DECEMBER 31, 1996 ------------------------------------ or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____________ to ___________ Commission File Number 33-27835-01 (AmeriSource Health Corporation) --------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: AMERISOURCE CORPORATION EMPLOYEE INVESTMENT PLAN 300 CHESTER FIELD PARKWAY MALVERN, PA 19355 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: AMERISOURCE HEALTH CORPORATION 300 CHESTER FIELD PARKWAY MALVERN, PA 19355 AmeriSource Corporation Employee Investment Plan Financial Statements and Supplemental Schedules Years ended December 31, 1996 and 1995 Contents
Report of Independent Auditors............................................. 1 Audited Financial Statements Statement of Assets Available for Benefits, With Fund Information, December 31, 1996.................................. 2 Statement of Assets Available for Benefits, With Fund Information, December 31, 1995.................................. 3 Statement of Changes in Assets Available for Benefits, With Fund Information, Year ended December 31, 1996....................... 4 Statement of Changes in Assets Available for Benefits, With Fund Information, Year ended December 31, 1995....................... 5 Notes to Financial Statements.............................................. 6 Supplemental Schedules Line 27a--Schedule of Assets Held for Investment Purposes.................. 11 Line 27d--Schedule of Reportable Transactions.............................. 12
Report of Independent Auditors Trustees of the AmeriSource Corporation Employee Investment Plan We have audited the accompanying statements of assets available for benefits of the AmeriSource Corporation Employee Investment Plan as of December 31, 1996 and 1995, and the related statements of changes in assets available for benefits for the years then ended. 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 assets available for benefits of the Plan at December 31, 1996 and 1995, and the changes in its assets available for benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes as of December31, 1996 and reportable transactions for the year then ended, are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and are not a required part of the basic financial statements. The Fund Information in the statements of assets available for benefits and the statements of changes in assets available for benefits is presented for purposes of additional analysis rather than to present the assets available for benefits and changes in assets available for benefits of each fund. The supplemental schedules and Fund Information have been subjected to the auditing procedures applied in our 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. ERNST & YOUNG LLP Philadelphia, Pennsylvania April 18, 1997 1 AmeriSource Corporation Employee Investment Plan Statement of Assets Available for Benefits, With Fund Information December 31, 1996
Fidelity Fidelity Fidelity Fidelity Fidelity Magellan Equity- Intermediate OTC Asset Fund Income Fund Bond Fund Portfolio Manager --------------------------------------------------------------------------- Assets Investments: At fair value: Shares of registered investment companies $13,290,541 $5,763,742 $2,200,487 $1,041,900 $572,849 Common stock funds - - - - - --------------------------------------------------------------------------- Total investments 13,290,541 5,763,742 2,200,487 1,041,900 572,849 Receivables: Participants' contribution 66,899 31,570 13,534 10,515 7,648 Employer's contribution 382,574 170,312 72,789 58,628 34,884 --------------------------------------------------------------------------- Total receivables 449,473 201,882 86,323 69,143 42,532 --------------------------------------------------------------------------- Assets available for benefits $13,740,014 $5,965,624 $2,286,810 $1,111,043 $615,381 =========================================================================== Fidelity Retirement AmeriSource IKON Unisource Money Market Corporation Corporation Corporation Portfolio Stock Fund Stock Fund Stock Fund Total ------------------------------------------------------------------------------- Assets Investments: At fair value: Shares of registered investment companies $5,028,971 $ - $ - $ - $ 27,898,490 Common stock funds - 1,155,955 6,196,296 1,222,756 8,575,007 ------------------------------------------------------------------------------ Total investments 5,028,971 1,155,955 6,196,296 1,222,756 36,473,497 Receivables: Participants' contribution 28,927 15,592 - - 174,685 Employer's contribution 166,459 81,810 - - 967,456 ------------------------------------------------------------------------------ Total receivables 195,386 97,402 - - 1,142,141 ------------------------------------------------------------------------------ Assets available for benefits $5,224,357 $ 1,253,357 $ 6,196,296 $ 1,222,756 $ 37,615,638 ===============================================================================
See accompanying notes. 3 AmeriSource Corporation Employee Investment Plan Statement of Assets Available for Benefits, With Fund Information December 31, 1995
Fidelity Fidelity Fidelity Fidelity Fidelity Magellan Equity- Intermediate OTC Asset Fund Income Fund Bond Fund Portfolio Manager ------------------------------------------------------------------------ Assets Investments: At fair value: Shares of registered investment companies $12,648,231 $4,300,140 $2,306,963 $523,916 $443,348 Common stock funds - - - - - ------------------------------------------------------------------------ Total investments 12,648,231 4,300,140 2,306,963 523,916 443,348 Receivables: Participants' contribution 74,457 24,030 13,991 5,154 4,903 Employer's contribution 483,151 162,817 91,842 37,045 30,765 ------------------------------------------------------------------------ Total receivables 557,608 186,847 105,833 42,199 35,668 ------------------------------------------------------------------------ Assets available for benefits $13,205,839 $4,486,987 $2,412,796 $566,115 $479,016 ======================================================================== Fidelity Alco Retirement Standard Money Market Corporation Portfolio Stock Fund Total ----------------------------------------------- Assets Investments: At fair value: Shares of registered investment companies $4,778,806 $ - $25,001,404 Common stock funds - 6,182,820 6,182,820 ----------------------------------------------- Total investments 4,778,806 6,182,820 31,184,224 Receivables: Participants' contribution 31,263 - 153,798 Employer's contribution 205,472 - 1,011,092 ----------------------------------------------- Total receivables 236,735 - 1,164,890 ----------------------------------------------- Assets available for benefits $5,015,541 $6,182,820 $32,349,114 ===============================================
See accompanying notes. 4 AmeriSource Corporation Employee Investment Plan Statements of Changes in Assets Available for Benefits, With Fund Information Year ended December 31, 1996
Fidelity Fidelity Fidelity Fidelity Fidelity Magellan Equity- Intermediate OTC Asset Fund Income Fund Bond Fund Portfolio Manager ----------------------------------------------------------------------------- Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ (662,878) $ 614,609 $ (77,236) $ 52,887 $ 16,231 Interest and dividends 2,081,557 356,412 151,710 118,354 42,828 ----------------------------------------------------------------------------- 1,418,679 971,021 74,474 171,241 59,059 Contributions: Participants 901,211 411,333 160,723 122,417 103,348 Employer 382,574 170,312 72,790 58,628 34,884 ----------------------------------------------------------------------------- 1,283,785 581,645 233,513 181,045 138,232 ----------------------------------------------------------------------------- Total additions 2,702,464 1,552,666 307,987 352,286 197,291 Deductions from net assets attributed to: Benefits paid to participants 1,191,204 444,602 188,500 42,860 26,490 ----------------------------------------------------------------------------- Net increase prior to interfund transfers 1,511,260 1,108,064 119,487 309,426 170,801 Interfund transfers (net) (977,085) 370,573 (245,473) 235,502 (34,436) ----------------------------------------------------------------------------- Net increase (decrease) 534,175 1,478,637 (125,986) 544,928 136,365 Assets available for benefits: Beginning of year 13,205,839 4,486,987 2,412,796 566,115 479,016 ----------------------------------------------------------------------------- End of year $13,740,014 $5,965,624 $2,286,810 $1,111,043 $615,381 ============================================================================= Fidelity Retirement AmeriSource IKON Unisource Money Market Corporation Corporation Corporation Portfolio Stock Fund Stock Fund Stock Fund Total ------------------------------------------------------------------------------ Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ - $ 350,985 $ 1,953,709 $ 71,305 $ 2,319,612 Interest and dividends 249,330 - - - 3,000,191 ------------------------------------------------------------------------------ 249,330 350,985 1,953,709 71,305 5,319,803 Contributions: Participants 363,180 141,536 - - 2,203,748 Employer 166,458 81,810 - - 967,456 ------------------------------------------------------------------------------ 529,638 223,346 - - 3,171,204 ------------------------------------------------------------------------------ Total additions 778,968 574,331 1,953,709 71,305 8,491,007 Deductions from net assets attributed to: Benefits paid to participants 773,808 14,619 542,400 - 3,224,483 ------------------------------------------------------------------------------ Net increase prior to interfund transfers 5,160 559,712 1,411,309 71,305 5,266,524 Interfund transfers (net) 203,656 693,645 (1,397,833) 1,151,451 - ------------------------------------------------------------------------------ Net increase (decrease) 208,816 1,253,357 13,476 1,222,756 5,266,524 Assets available for benefits: Beginning of year 5,015,541 - 6,182,820 - 32,349,114 ------------------------------------------------------------------------------ End of year $ 5,224,357 $1,253,357 $ 6,196,296 $1,222,756 $37,615,638 ==============================================================================
See accompanying notes. 5 AmeriSource Corporation Employee Investment Plan Statements of Changes in Assets Available for Benefits, With Fund Information Year ended December 31, 1995
Fidelity Fidelity Fidelity Fidelity Magellan Equity- Intermediate OTC Fund Income Fund Bond Fund Portfolio -------------------------------------------------------------- Additions to net assets attributed to: Investment income: Net appreciation in fair value of investments $ 2,567,799 $ 751,539 $ 121,561 $107,615 Interest and dividends 728,307 243,401 136,872 30,439 -------------------------------------------------------------- 3,296,106 994,940 258,433 138,054 Contributions: Participants 828,501 332,341 224,568 55,446 Employer 483,151 162,817 91,842 37,045 -------------------------------------------------------------- 1,311,652 495,158 316,410 92,491 -------------------------------------------------------------- Total additions 4,607,758 1,490,098 574,843 230,545 Deductions from net assets attributed to: Benefits paid to participants 743,677 308,140 196,980 77,411 -------------------------------------------------------------- Net increase (decrease) prior to interfund transfers 3,864,081 1,181,958 377,863 153,134 Interfund transfers (net) 119,694 139,472 (13,486) 105,413 -------------------------------------------------------------- Net increase (decrease) 3,983,775 1,321,430 364,377 258,547 Assets available for benefits: Beginning of year 9,222,064 3,165,557 2,048,419 307,568 -------------------------------------------------------------- End of year $13,205,839 $4,486,987 $2,412,796 $566,115 ============================================================== Fidelity Fidelity Retirement Alco Standard Asset Money Market Corporation Manager Portfolio Stock Fund Total --------------------------------------------------------------- Additions to net assets attributed to: Investment income: Net appreciation in fair value of investments $ 59,508 $ - $2,071,009 $ 5,679,031 Interest and dividends 13,217 297,168 - 1,449,404 --------------------------------------------------------------- 72,725 297,168 2,071,009 7,128,435 Contributions: Participants 57,545 377,500 - 1,875,901 Employer 30,765 205,472 - 1,011,092 --------------------------------------------------------------- 88,310 582,972 - 2,886,993 --------------------------------------------------------------- Total additions 161,035 880,140 2,071,009 10,015,428 Deductions from net assets attributed to: Benefits paid to participants 87,416 1,201,716 220,221 2,835,561 --------------------------------------------------------------- Net increase (decrease) prior to interfund transfers 73,619 (321,576) 1,850,788 7,179,867 Interfund transfers (net) (75,427) (34,648) (241,018) - --------------------------------------------------------------- Net increase (decrease) (1,808) (356,224) 1,609,770 7,179,867 Assets available for benefits: Beginning of year 480,824 5,371,765 4,573,050 25,169,247 --------------------------------------------------------------- End of year $479,016 $5,015,541 $6,182,820 $32,349,114 ===============================================================
See accompanying notes. 6 AmeriSource Corporation Employee Investment Plan Notes to Financial Statements December 31, 1996 1. Description of Plan The following description of the AmeriSource Corporation Employee Investment Plan (Plan) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. General The Plan is a defined contribution plan. Participation is limited to salaried office or sales employees and certain hourly personnel of the Company who have at least one year of service and are age twenty-one or older. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions Each year, participants may contribute between 2% and 6% of pretax annual compensation, as defined in the Plan. The Company contributed an amount equal to 50% and 60% of the participants' contributions to the Plan for 1996 and 1995, respectively. Participant Accounts Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and (b) Plan earnings. Allocations are based on participant earnings or account balances, as defined. Forfeited balances of terminated participants' nonvested accounts are used to reduce future company contributions. The balance of forfeited nonvested accounts was not material as of December 31, 1996 or 1995. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. Vesting Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company contribution portion of their accounts plus actual earnings thereon is based on years of continuous service. A participant is 100 percent vested after five years of credited service. AmeriSource Corporation Employee Investment Plan Notes to Financial Statements (continued) 1. Description of Plan (continued) Investment Options Upon enrollment in the Plan, a participant may direct employer and employee contributions in 5% increments in any of seven investment options. Fidelity Magellan Fund - Fund seeks long-term capital appreciation through investing in common stocks, and securities convertible to common stock. Fidelity Equity-Income Fund - Fund seeks reasonable income by investing for yields that exceed the yield on the securities comprising the S&P 500. Fidelity Intermediate Bond Fund - Fund seeks a high level of current income by investing in corporate debt obligations that are rated at least Baa by Moody's Investors Service Inc. or BBB by Standard & Poor's Corporation. Fidelity OTC Portfolio - Fund seeks long-term capital appreciation through mainly investing in common stocks, though it can invest in the entire array of securities the OTC market offers, from preferred stocks to debt obligations. Fidelity Asset Manager - Fund seeks high total return with reduced risk over the long term by investing in diverse holdings of domestic and foreign stocks, bonds, and short-term instruments of the U.S. and foreign issuers, including those in emerging markets. Fidelity Retirement Money Market Portfolio - Fund seeks as high a level of current income as is consistent with the preservation of capital and liquidity. The Fund invests in high-quality, U.S. dollar-denominated money market instruments of U.S. and foreign issuers. AmeriSource Corporation Common Stock Fund - Consists of the Plan Sponsor's common stock. Alco Standard Corporation Stock Fund - This fund invests in the common stock of Alco Standard Corporation. During 1996, Alco Standard Corporation reorganized and split into two corporations, IKON Corporation and Unisource Corporation. These funds are not investment options and funds invested can only be withdrawn. Participants may change their investment options as often as they choose. AmeriSource Corporation Employee Investment Plan Notes to Financial Statements (continued) 1. Description of Plan (continued) Payment of Benefits On termination of service if the participant's account is less than $3,500, a participant will receive a lump-sum amount equal to the vested value of his or her account. The participant will have the option to leave his or her account in the Plan if their balance is greater than $3,500. Administrative Expenses Administrative expenses of the Plan are paid by the Company. 2. Summary of Accounting Policies Investment Valuation and Income Recognition The Plan's investments are stated at fair value. The shares of registered investment companies are valued at quoted market prices which represent the net asset values of shares held by the Plan at year end. The common stock is valued at the closing value of the last day of the Plan year. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex- dividend date. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Reclassification Certain 1995 balances have been reclassified to conform to the 1996 presentation. AmeriSource Corporation Employee Investment Plan Notes to Financial Statements (continued) 3. Investments The Plan's investments are held by Fidelity Investments and are presented in the following table.
December 31 1996 1995 ------------------------------ Investments at fair value as determined by Quoted Market Price-- Shares of registered investment companies: Fidelity Investments: Magellan Fund, 164,793 and 147,107 shares, respectively** $13,290,541 $12,648,231 Equity-Income Fund, 134,573 and 113,370 shares, respectively** 5,763,742 4,300,140 Intermediate Bond Fund, 218,302 and 221,610 shares, respectively** 2,200,487 2,306,963 OTC Portfolio, 31,853 and 17,274 shares, respectively 1,041,900 523,916 Asset Manager, 34,781 and 27,971 shares, respectively 572,849 443,348 Retirement Money Market Portfolio, 5,028,971 and 4,778,806 shares, respectively** 5,028,971 4,778,806 ------------------------------ 27,898,490 25,001,404 Common stock: AmeriSource Corporation, 23,957 shares 1,155,955 - IKON Corporation, 120,025 shares** 6,196,296 - Unisource Corporation, 60,013 shares 1,222,756 - Alco Corporation, 135,514 shares** - 6,182,820 ------------------------------ 8,575,007 6,182,820 ------------------------------ Total investments fair value $36,473,497 $31,184,224 ==============================
**Investment represents 5 percent or more of the Plan's assets AmeriSource Corporation Employee Investment Plan Notes to Financial Statements (continued) 3. Investments (continued) During 1996 and 1995, the Plan's investments (including investments bought, sold, and held during the year) appreciated (depreciated) in value by $2,319,612 and $5,679,031, respectively.
Year ended December 31 1996 1995 ----------------------------- Investments at fair value as determined by Quoted Market Price: Fidelity Investments: Magellan Fund $ (662,878) $2,567,799 Equity-Income Fund 614,609 751,539 Intermediate Bond Fund (77,236) 121,561 OTC Portfolio 52,887 107,615 Asset Manager 16,231 59,508 AmeriSource Corporation Stock Fund 350,985 - IKON Corporation Stock Fund 1,953,709 - Unisource Corporation Stock Fund 71,305 - Alco Standard Corporation Stock Fund - 2,071,009 ----------------------------- Net change in fair value $2,319,612 $5,679,031 =============================
4. Plan Termination Although it has not expressed any intent to do so, the Company 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 Plan termination, participants will become 100 percent vested in their accounts. 5. Income Tax Status The Internal Revenue Service ruled on February 16, 1995 that the Plan qualifies under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the related trust is not subject to tax under present income tax law. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Benefits Committee is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. AmeriSource Corporation Employee Investment Plan Line 27a--Schedule of Assets Held for Investment Purposes December 31, 1996
Description of Current Identity of Issue Investment Cost Value - ------------------------------------------------------------------------------------------- (1) Fidelity Investments Magellan Fund--164,793 shares Investment Fund $11,545,928 $13,290,541 (1) Fidelity Investments Equity Income Fund--134,573 shares Investment Fund 4,372,018 5,763,742 (1) Fidelity Investments Intermediate Bond Fund-- 218,302 shares Investment Fund 2,219,446 2,200,487 (1) Fidelity Investments OTC Portfolio Fund-- 31,853 shares Investment Fund 936,219 1,041,900 (1) Fidelity Investments Asset Manager Fund-- 34,781 shares Investment Fund 532,780 572,849 (1) Fidelity Investments Retirement Money Market Fund-- 5,028,971 shares Investment Fund 5,028,971 5,028,971 --------------------------------- Total investment funds 24,635,362 27,898,490 (1)Amerisource Corporation-- 23,957 shares Common Stock 828,080 1,155,955 IKON Stock Fund--120,025 shares Common Stock 441,018 6,196,296 Unisource--60,013 shares Common Stock 441,020 1,222,756 --------------------------------- Total common stock 1,710,118 8,575,007 --------------------------------- $26,345,480 $36,473,497 =================================
(1) Party-in-interest AmeriSource Corporation Employee Investment Plan Line 27d--Schedule of Reportable Transactions Year ended December 31, 1996
Identity of Purchase Net Gain Party Involved Description of Asset Price Proceeds Cost (Loss) - --------------------------------------------------------------------------------------------------------------------------------- Category (iii)--Series of transactions in excess of 5% of plan assets - --------------------------------------------------------------------- Fidelity Magellan Fund Purchased 47,367 shares in 149 transactions; $3,649,318 $ - $3,649,318 $ - sold 29,680 shares in 119 transactions. 2,344,131 2,083,609 260,522 Fidelity Equity Fund Purchased 35,584 shares in 126 transactions; 1,433,965 - 1,433,965 - sold 14,382 shares in 72 transactions 584,972 477,878 107,094 Fidelity Retirement Money Purchased 1,476,942 shares in 113 Market Fund transactions; 1,476,942 - 1,476,942 - sold 1,226,777 shares in 101 transactions 1,226,777 1,226,777 - IKON Stock Fund Sold 15,491 shares in 22 transactions - 1,940,353 1,332,074 608,279
There were no category (i), (ii), or (iv) reportable transactions during 1996. 12 SIGNATURES ---------- 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 thereunto duly authorized. AMERISOURCE CORPORATION EMPLOYEE INVESTMENT PLAN (Name of Plan) By: /s/ John A. Aberant ------------------------------ ` John A. Aberant Benefits Committee Dated: June 30, 1997 Exhibit Index ------------- Exhibit Page - ------- ---- 23 Consent of Ernst & Young LLP. . . . . . . . . . . EX-23 2 CONSENT OF INDEPENDENT AUDITORS CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8, No. 333-01951) pertaining to the AmeriSource Corporation Employee Investment Plan of our report dated April 18, 1997, with respect to the financial statements and schedules of the AmeriSource Corporation Employee Investment Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1996. ERNST & YOUNG LLP Philadelphia, Pennsylvania June 26, 1997 -----END PRIVACY-ENHANCED MESSAGE-----