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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended Commission File
DECEMBER 31, 1997 NUMBER 1-4001
UNION CAMP CORPORATION
A Virginia Corporation 13-5652423
I.R.S. Employer
Identification No.
1600 Valley Road
Wayne, New Jersey 07470
Telephone (973) 628-2000
Securities registered pursuant to Section 12(b) of the Act:
<TABLE>
<CAPTION>
Name of Each Exchange
Title of Each Class on Which Registered
------------------- ---------------------
<S> <C>
Common Stock, $1 par value.....................New York Stock Exchange;
Pacific Stock Exchange
Preferred Stock Purchase Rights................New York Stock Exchange;
Pacific Stock Exchange
8 5/8% Sinking Fund
Debentures Due April 15, 2016................New York Stock Exchange
</TABLE>
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. [ ]
On March 4, 1998, 69,244,048 shares of Registrant's Common Stock, $1 par
value, were outstanding. On March 4, 1998, the closing price per share for the
Common Stock as reported on the Composite Tape for issues listed on the New York
Stock Exchange was $59.3125 and the aggregate market value of the Common Stock
held by non-affiliates of the Registrant was $4,107,037,597.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of Registrant's Annual Report to Stockholders for the fiscal
year ended December 31, 1997 (the "Union Camp 1997 Annual Report") are
incorporated by reference in Parts I, II and IV of this Form 10-K.
Portions of Registrant's Proxy Statement, dated March 16, 1998 (the
"Union Camp 1998 Proxy Statement"), are incorporated by reference in Part III of
this Form 10-K.
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AMENDED
PART IV
ITEM 14 IS AMENDED TO ADD THE FOLLOWING RESTATED FINANCIAL DATA SCHEDULES:
<TABLE>
<CAPTION>
EXHIBIT
NO. DESCRIPTION
- ------- -----------
<S> <C>
27.3 Financial Data Schedule - Restated for Annual Period Ended December 31, 1995.
27.4 Financial Data Schedule - Restated for Quarterly Period Ended March 31, 1996.
27.5 Financial Data Schedule - Restated for Quarterly Period Ended June 30, 1996.
27.6 Financial Data Schedule - Restated for Quarterly Period Ended September 30, 1996.
</TABLE>
-2-
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment report to be signed on its behalf by
the undersigned thereunto duly authorized.
UNION CAMP CORPORATION
Date: May 13, 1998 /S/ JOHN F. HAREN
----------------------------
John F. Haren
Controller
(Principal Accounting Officer)
-3-
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<CASH> 30,332
<SECURITIES> 0
<RECEIVABLES> 506,433
<ALLOWANCES> 16,466
<INVENTORY> 468,717
<CURRENT-ASSETS> 1,033,817
<PP&E> 6,579,048
<DEPRECIATION> 2,918,963
<TOTAL-ASSETS> 4,838,343
<CURRENT-LIABILITIES> 620,113
<BONDS> 1,151,536
<COMMON> 69,078
0
0
<OTHER-SE> 2,052,614
<TOTAL-LIABILITY-AND-EQUITY> 4,838,343
<SALES> 4,211,709
<TOTAL-REVENUES> 4,211,709
<CGS> 2,680,938
<TOTAL-COSTS> 3,370,320<F1>
<OTHER-EXPENSES> (3,173)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 113,705
<INCOME-PRETAX> 730,857
<INCOME-TAX> 268,895
<INCOME-CONTINUING> 451,073<F2>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 451,073
<EPS-PRIMARY> 6.45
<EPS-DILUTED> 6.39
<FN>
<F1>INCLUDES $6.4 MILLION PRE-TAX GAIN FROM THE SALE OF FLEXIBLE PACKAGING ASSETS.
<F2>REFLECTS ADJUSTMENT FOR MINORITY INTEREST (NET OF TAX) OF $10,889
</FN>
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 28,844
<SECURITIES> 0
<RECEIVABLES> 515,083
<ALLOWANCES> 17,312
<INVENTORY> 460,976
<CURRENT-ASSETS> 1,025,081
<PP&E> 6,705,345
<DEPRECIATION> 2,981,986
<TOTAL-ASSETS> 4,927,225
<CURRENT-LIABILITIES> 662,482
<BONDS> 1,149,623
<COMMON> 69,128
0
0
<OTHER-SE> 2,079,724
<TOTAL-LIABILITY-AND-EQUITY> 4,927,225
<SALES> 978,255
<TOTAL-REVENUES> 978,255
<CGS> 674,685
<TOTAL-COSTS> 850,594
<OTHER-EXPENSES> 3,540
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 27,372
<INCOME-PRETAX> 96,749
<INCOME-TAX> 35,798
<INCOME-CONTINUING> 58,503<F1>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 58,503
<EPS-PRIMARY> 0.85
<EPS-DILUTED> 0.85
<FN>
<F1>REFLECTS ADJUSTMENT FOR MINORITY INTEREST (NET OF TAX) OF $2,448
</FN>
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<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<CASH> 45,075
<SECURITIES> 0
<RECEIVABLES> 502,253
<ALLOWANCES> 17,308
<INVENTORY> 439,362
<CURRENT-ASSETS> 1,018,201
<PP&E> 6,765,937
<DEPRECIATION> 3,044,331
<TOTAL-ASSETS> 4,916,194
<CURRENT-LIABILITIES> 647,040
<BONDS> 1,189,957
<COMMON> 68,589
0
0
<OTHER-SE> 2,037,225
<TOTAL-LIABILITY-AND-EQUITY> 4,916,194
<SALES> 1,912,303
<TOTAL-REVENUES> 1,912,303
<CGS> 1,378,483
<TOTAL-COSTS> 1,727,185
<OTHER-EXPENSES> (1,659)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 55,271
<INCOME-PRETAX> 131,506
<INCOME-TAX> 49,183
<INCOME-CONTINUING> 76,642<F1>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 76,642
<EPS-PRIMARY> 1.11
<EPS-DILUTED> 1.11
<FN>
<F1>REFLECTS ADJUSTMENT FOR MINORITY INTEREST (NET OF TAX) OF $5,681
</FN>
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<TABLE> <S> <C>
<ARTICLE> 5
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 54,148
<SECURITIES> 0
<RECEIVABLES> 567,713
<ALLOWANCES> 19,410
<INVENTORY> 472,555
<CURRENT-ASSETS> 1,116,272
<PP&E> 6,867,095
<DEPRECIATION> 3,126,818
<TOTAL-ASSETS> 5,075,485
<CURRENT-LIABILITIES> 599,538
<BONDS> 1,337,790
<COMMON> 69,640
0
0
<OTHER-SE> 2,072,844
<TOTAL-LIABILITY-AND-EQUITY> 5,075,485
<SALES> 2,929,613
<TOTAL-REVENUES> 2,929,613
<CGS> 2,149,085
<TOTAL-COSTS> 2,690,646
<OTHER-EXPENSES> (2,638)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 83,559
<INCOME-PRETAX> 158,046
<INCOME-TAX> 58,921
<INCOME-CONTINUING> 90,995<F1>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 90,995
<EPS-PRIMARY> 1.32
<EPS-DILUTED> 1.32
<FN>
<F1>REFLECTS ADJUSTMENT FOR MINORITY INTEREST (NET OF TAX) OF $8,130
</FN>
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