<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the Fiscal Year Ended December 31, 1994
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission File Number 1-800
Title of the Plan -
SPECIAL INVESTMENT AND SAVINGS PLAN
FOR WRIGLEY EMPLOYEES
Name and Address of the Issuer of the Securities
Held Pursuant to the Plan -
WM. WRIGLEY JR. COMPANY
(Delaware Corporation)
410 North Michigan Avenue
Chicago, Illinois 60611
<PAGE>
SIGNATURE
The Plan. Pursuant to the requirements of the Securities
Exchange Act of 1934, the Special Investment and Savings Plan
Committee, as Administrator of the Plan, has duly caused this
Annual Report to be signed by the undersigned thereunto duly
authorized.
WM. WRIGLEY JR. COMPANY
SPECIAL INVESTMENT AND SAVINGS
PLAN
By: WM. M. PIET
Wm. M. Piet
Special Investment and Savings
Plan Committee Member and Vice
President-Corporate Affairs,
Secretary, and Assistant to the
President, Wm. Wrigley Jr. Company
Date: April 23, 1995
<PAGE>
Financial Statements
and Supplemental Schedules
Special Investment and Savings Plan
for Wrigley Employees
December 31, 1994, 1993, and 1992
with Report of Independent Auditors
<PAGE>
Special Investment and Savings Plan
for Wrigley Employees
Financial Statements and Supplemental Schedules
Years ended December 31, 1994, 1993, and 1992
<TABLE>
<CAPTION>
Contents
<S> <C>
Report of Independent Auditors 1
Financial Statements
Statement of Net Assets Available for Plan Benefits - December 31, 1994 3
Statement of Net Assets Available for Plan Benefits - December 31, 1993 4
Statement of Changes in Net Assets Available for Plan Benefits -
Year ended December 31, 1994 5
Statement of Changes in Net Assets Available for Plan Benefits -
Year ended December 31, 1993 6
Statement of Changes in Net Assets Available for Plan Benefits -
Year ended December 31, 1992 7
Notes to Financial Statements 8
</TABLE>
<PAGE>
Report of Independent Auditors
The Special Investment and Savings Plan Committee
Special Investment and Savings Plan
for Wrigley Employees
We have audited the accompanying statements of net assets available
for plan benefits of the Special Investment and Savings Plan for
Wrigley Employees as of December 31, 1994 and 1993, and the related
statements of changes in net assets available for plan benefits for
each of the three years in the period ended December 31, 1994.
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 plan
benefits of the Plan at December 31, 1994 and 1993, and the changes
in its net assets available for plan benefits for each of the three
years in the period ended December 31, 1994, 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 Fund Information
in the statement of net assets available for plan benefits and the
statement of changes in net assets available for plan 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 Fund
Information has 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
Chicago, Illinois
June 12, 1995
<PAGE>
<TABLE>
Special Investment and Savings Plan
for Wrigley Employees
Statement of Net Assets Available for Plan Benefits
December 31, 1994
<CAPTION>
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Assets
Investments, at fair value:
Shares of registered investment
companies:
Putnam Stable Value Fund $ 25,660,621 $25,660,621 $ - $ $ $
Putnam Growth & Income Fund 6,019,413 - 6,019,413 - - -
Putnam Vista Fund 3,410,125 - - 3,410,125 - -
Putnam Global Growth Fund 2,742,982 - - - 2,742,982 -
Wrigley Stock Fund:
Wm. Wrigley Jr. Company Common Stock
(4,324,882 shares; cost - $38,520,466) 213,541,059 - - - - 213,541,059
Wm. Wrigley Jr. Company Class B Common
Stock (969,112 shares; cost -
$2,315,926) 47,849,905 - - - - 47,849,905
Invested cash 8,903 - - - - 8,903
-------------------------------------------------------------------------------
Total investments 299,233,008 25,660,621 6,019,413 3,410,125 2,742,982 261,399,867
Receivables:
Participants' contributions 239,149 70,322 19,023 11,775 12,415 125,614
Employer's contributions 83,102 - - - - 83,102
Participants' loans 4,780,585 1,097,998 193,284 105,653 77,318 3,306,332
Dividends receivable 2,347,879 - - - - 2,347,879
--------------------------------------------------------------------------------
Total receivables 7,450,715 1,168,320 212,307 117,428 89,733 5,862,927
--------------------------------------------------------------------------------
Net assets available for plan benefits $306,683,723 $26,828,941 $6,231,720 $3,527,553 $2,832,715 $267,262,794
================================================================================
Net assets available for plan benefits:
Participants' contributions including
earnings $113,322,696 $26,828,941 $6,231,720 $3,527,553 $2,832,715 $ 73,901,767
Employer's contributions including
earnings 193,361,027 - - - - 193,361,027
----------------------------------------------------------------------------------
Net assets available for plan benefits $306,683,723 $26,828,941 $6,231,720 $3,527,553 $2,832,715 $267,262,794
==================================================================================
</TABLE>
See notes to financial statements.
<PAGE>
<TABLE>
Special Investment and Savings Plan
for Wrigley Employees
Statement of Net Assets Available for Plan Benefits
December 31, 1993
<CAPTION>
Total Fund A Fund B Fund C
<S> <C> <C> <C> <C>
Assets
Investments:
Aetna Interest Accumulation Fund
(Separate Account 256)
(cost $37,613,743) $ 38,710,701 $38,710,701 $ - $ -
Aetna Growth and Income Equity
Account (Separate Account 83) (cost
$2,750,661) 4,165,487 - 4,165,487 -
Wm. Wrigley Jr. Company Common Stock
(4,176,478 shares; cost -
$16,350,933) 184,287,092 - - 184,287,092
Wm. Wrigley Jr. Company Class B
Common Stock (1,022,804 shares; cost
$2,530,249) 45,131,226 - - 45,131,226
The Northern Trust Company
Collective Trust Short-Term
Investment Fund (2,053,820 units;
cost $2,053,820) 2,053,820 1,547 859 2,051,414
------------------------------------------------------
Total investments 274,348,326 38,712,248 4,166,346 231,469,732
Receivables:
Participants' contributions 826,736 442,358 51,774 332,604
Employer's contributions 351,176 - - 351,176
Participants' loans 3,901,776 1,537,181 118,269 2,246,326
Dividends and interest receivable 400,759 11,346 1,263 388,150
-------------------------------------------------------
Total receivables 5,480,447 1,990,885 171,306 3,318,256
-------------------------------------------------------
Net assets available for plan benefits $279,828,773 $40,703,133 $4,337,652 $234,787,988
=======================================================
Net assets available for plan benefits:
Participants' contributions
including earnings $113,123,361 $40,703,133 $4,337,652 $ 68,082,576
Employer's contributions including
earnings 166,705,412 - - 166,705,412
-------------------------------------------------------
Net assets available for plan benefits $279,828,773 $40,703,133 $4,337,652 $234,787,988
=======================================================
</TABLE>
See notes to financial statements.
<PAGE>
<TABLE>
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 1994
<CAPTION>
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Investment income
Dividends:
Putnam mutual funds $ 1,700,762 $ 1,220,654 $ 365,409 $ 25,615 $ 89,084 $ -
Wm. Wrigley Jr. Company Common Stock 3,858,123 - - - - 3,858,123
Wm. Wrigley Jr. Company Class B Common
Stock 892,789 - - - - 892,789
-------------------------------------------------------------------------------
6,451,674 1,220,654 365,409 25,615 89,084 4,750,912
Interest:
Invested cash 160,588 57,659 13,268 6,258 5,302 78,101
Participants' loans 254,269 32,126 12,327 8,079 7,576 194,161
-------------------------------------------------------------------------------
414,857 89,785 25,595 14,337 12,878 272,262
-------------------------------------------------------------------------------
Total investment income 6,866,531 1,310,439 391,004 39,952 101,962 5,023,174
Net realized and unrealized
appreciation (depreciation) in market 27,232,054 - (499,133) (187,371) (182,069) 28,100,627
value
Contributions
Participants 9,594,851 2,452,008 906,964 562,117 587,720 5,086,042
Employer 3,492,717 - - - - 3,492,717
-------------------------------------------------------------------------------
Total contributions 13,087,568 2,452,008 906,964 562,117 587,720 8,578,759
Distributions to participants (20,283,370) (4,695,325) (341,593) (219,749) (170,866) (14,855,837)
Forfeitures, allocable to future
employer contributions (47,833) - - - - (47,833)
Transfers of investment direction - 1,172,662 189,296 458,621 63,752 (1,884,331)
-------------------------------------------------------------------------------
Increase in net assets available for
plan benefits 26,854,950 239,784 646,538 653,570 400,499 24,914,559
Net assets available for plan benefits
at beginning of year:
Included in current funds 234,787,988 - - - - 234,787,988
Transfered from prior funds 45,040,785 26,589,157 5,585,182 2,873,983 2,432,216 7,560,247
-------------------------------------------------------------------------------
Net assets available for plan benefits
at beginning of year 279,828,773 26,589,157 5,585,182 2,873,983 2,432,216 242,348,235
-------------------------------------------------------------------------------
Net assets available for plan benefits
at end of year $306,683,723 $26,828,941 $6,231,720 $3,527,553 $2,832,715 $267,262,794
===============================================================================
</TABLE>
See notes to financial statements.
<PAGE>
<TABLE>
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 1993
<CAPTION>
Total Fund A Fund B Fund C
<S> <C> <C> <C> <C>
Investment income
Dividends:
Aetna Growth and Income Equity
Account (Separate Account 83) $ 307,200 $ $ 307,200 $ -
Wm. Wrigley Jr. Company Common Stock 3,708,478 - - 3,708,478
Wm. Wrigley Jr. Company Class B
Common Stock 227,893 - - 227,893
--------------------------------------------------------
4,243,571 - 307,200 3,936,371
Interest:
Aetna Interest Accumulation Fund
(Separate Account 256) 2,435,571 2,435,571 - -
The Northern Trust Company
Collective Trust Short-Term
Investment Fund 44,609 6,187 406 38,016
Participants' loans 240,794 71,909 7,530 161,355
--------------------------------------------------------
2,720,974 2,513,667 7,936 199,371
--------------------------------------------------------
Total investment income 6,964,545 2,513,667 315,136 4,135,742
Net realized and unrealized
appreciation (depreciation) in 60,984,023 200,663 (67,489) 60,850,849
market value
Contributions
Participants 6,861,445 3,656,072 497,692 2,707,681
Employer 3,024,047 - - 3,024,047
--------------------------------------------------------
Total contributions 9,885,492 3,656,072 497,692 5,731,728
Distributions to participants (21,310,804) (5,130,682) (283,224) (15,896,898)
Forfeitures, allocable to future
employer contributions (31,474) - - (31,474)
Transfers of investment direction - (842,664) (99,237) 941,901
--------------------------------------------------------
Increase in net assets available for
plan benefits 56,491,782 397,056 362,878 55,731,848
Net assets available for plan
benefits at beginning of year 223,336,991 40,306,077 3,974,774 179,056,140
--------------------------------------------------------
Net assets available for plan
benefits at end of year $279,828,773 $40,703,133 $4,337,652 $234,787,988
========================================================
</TABLE>
See notes to financial statements.
<PAGE>
<TABLE>
Special Investment and Savings Plan
for Wrigley Employees
Statement of Changes in Net Assets Available for Plan Benefits
Year ended December 31, 1992
<CAPTION>
Total Fund A Fund B Fund C
<S> <C> <C> <C> <C>
Investment income
Dividends:
Aetna Growth and Income Equity
Account (Separate Account 83) $ 168,473 $ - $ 168,473 $ -
Wm. Wrigley Jr. Company Common Stock 2,607,121 - - 2,607,121
Wm. Wrigley Jr. Company Class B
Common Stock 705,195 - - 705,195
-------------------------------------------------------
3,480,789 - 168,473 3,312,316
Interest:
Aetna Interest Accumulation Fund
(Separate Account 256) 3,271,595 3,271,595 - -
The Northern Trust Company
Collective Trust Short-Term
Investment Fund 27,440 3,585 313 23,542
Participants' loans 242,785 81,205 6,550 155,030
-------------------------------------------------------
3,541,820 3,356,385 6,863 178,572
--------------------------------------------------------
Total investment income 7,022,609 3,356,385 175,336 3,490,888
Net realized and unrealized
appreciation in market value 31,096,756 896,295 73,201 30,127,260
Contributions
Participants 6,764,881 4,163,104 480,615 2,121,162
Employer 2,883,583 - - 2,883,583
-------------------------------------------------------
Total contributions 9,648,464 4,163,104 480,615 5,004,745
Distributions to participants (17,786,346) (5,674,975) (285,324) (11,826,047)
Forfeitures, allocable to future
employer contributions (25,141) - - (25,141)
Transfers of investment direction - (2,665,825) (331,938) 2,997,763
-------------------------------------------------------
Increase in net assets available for
plan benefits 29,956,342 74,984 111,890 29,769,468
Net assets available for plan
benefits at beginning of year 193,380,649 40,231,093 3,862,884 149,286,672
-------------------------------------------------------
Net assets available for plan
benefits at end of year $223,336,991 $40,306,077 $3,974,774 $179,056,140
=======================================================
</TABLE>
See notes to financial statements.
<PAGE>
Special Investment and Savings Plan
for Wrigley Employees
Notes to Financial Statements
1. Description of the Plan
The following is a brief description of the Special Investment and
Savings Plan for Wrigley Employees (the Plan) in effect at December
31, 1994, and is provided for general information purposes only.
Participants should refer to the Plan document for a more complete
description of the Plan's provisions.
On July 22, 1993, the Savings Plan Committee (Committee) resolved
to transfer Fund A and Fund B assets from the Aetna Interest
Accumulation Fund (Separate Account 256), Aetna Growth and Income
Equity Account (Separate Account 83), and The Northern Trust
Company Collective Short-Term Investment Fund to the Putnam Stable
Value Fund, Putnam Growth & Income Fund, Putnam Vista Fund, and
Putnam Global Growth Fund effective January 1, 1994, to provide
participants with more investment options. Also effective January
1, 1994, Fund C was renamed the Wrigley Stock Fund but otherwise is
unchanged.
In the Statement of Changes in Net Assets Available for Plan
Benefits for the year ended December 31, 1994, net assets available
for plan benefits at the beginning of the year has been determined
by reallocating Fund A and Fund B assets at the end of 1993 to the
various Funds as elected by participants.
Participation and Contributions
The Plan was established, effective January 1, 1975, for the
employees of Wm. Wrigley Jr. Company and such United States
subsidiaries and affiliates of Wm. Wrigley Jr. Company that adopt
the Plan (collectively referred to as the Company or Employer).
Employees are generally eligible to participate in the Plan after
one year's service. After-tax and/or 401(k) accounts and Company
matching accounts are maintained for each participant. Certain
participants also have, as a part of the plan, fully-vested,
payroll-based employee stock ownership (PAYSOP) accounts. However,
effective December 31, 1994, the PAYSOP accounts have been
discontinued and merged with the Company matching account. A
participant's account balances are valued daily for participant and
Employer contributions, investment income, and net appreciation
(depreciation) in market value of investments.
<PAGE>
1. Description of the Plan (continued)
The Plan allows eligible employees to make contributions, usually
in the form of payroll deductions, generally up to 15% of base
salary. Subject to certain limitations, the Employer is required
to make matching contributions at 60% of most participants'
contributions (50% for certain Company executives) up to 6%
of base salary. The entire Employer contribution is invested in
the Wrigley Stock Fund.
Participant and Employer contributions for the three years in the
period ended December 31, 1994, were as follows:
<TABLE>
<CAPTION>
1994 1993 1992
Employer Participants Employer Participants Employer Participants
<S> <C> <C> <C> <C> <C> <C>
Wm. Wrigley Jr. Company $2,914,588 $8,119,087 $2,537,796 $5,784,910 $2,429,173 $5,771,999
L. A. Dreyfus Company 261,893 685,557 232,135 536,677 232,259 518,502
Amurol Products Company 292,027 731,936 235,228 497,650 202,060 428,255
Northwestern Flavors,
Inc. 24,209 58,271 18,888 42,208 20,091 46,125
----------------------------------------------------------------------
$3,492,717 $9,594,851 $3,024,047 $6,861,445 $2,883,583 $6,764,881
======================================================================
</TABLE>
The Putnam Fiduciary Trust Company, as Trustee under the Special
Investment and Savings Plan Trust for Wrigley Employees (Trust),
dated January 12, 1977, and amended and restated as of January 1,
1994, directs the purchases and sales of investments for all funds,
within the limits prescribed in the Plan. Contributions and
earnings awaiting investment under the specified investment
programs are temporarily placed in the Trust's collective
short-term investment fund at Putnam Fiduciary Trust Company.
Loans
The Plan contains provisions that allow loans to participants,
subject to certain restrictions. The maximum aggregate amount that
will be loaned to any participant will generally be the lesser of
$50,000 or 50% of the vested portion of the participant's Employer
matching contribution account plus the value of the participant's
tax-deferred and regular deposit accounts. These loans, which have
a maximum term of five years (ten years if used to acquire a
participant's principal residence), are to be repaid through
payroll withholdings. Loans shall bear a reasonable rate of
interest, established annually by the Committee, generally equal
to, for any Plan year, the prime interest rate minus 1%.
<PAGE>
1. Description of the Plan (continued)
Investment Options and Transfers
Upon enrollment in the Plan, a participant may direct employee
contributions in 5% increments in any of five investment options.
Putnam Stable Value Fund - Funds are invested in shares of a
registered investment company that seeks low-risk fixed income
investments in annuity contracts, certificates of deposit, and
U.S. Treasury and government agency obligations.
Putnam Growth and Income Fund - Funds are invested in shares of
a registered investment company that seeks capital growth and
current income through investments in common stocks, corporate
bonds, and U.S. government securities.
Putnam Vista Fund - Funds are invested in shares of a registered
investment company that seeks capital appreciation through
investments in growth and value common stocks.
Putnam Global Growth Fund - Funds are invested in shares of a
registered investment company that seeks capital appreciation
through investments in a globally diversified portfolio of
common stocks.
Wrigley Stock Fund - Funds are invested in Wm. Wrigley Jr.
Company Common Stock.
Participants may change their investment direction once per
calendar quarter, on any day, in 5% increments. In addition,
participants may elect to transfer their account balance in any
investment fund or funds once per calendar quarter, on any day, in
1% increments to any other investment fund or funds. After
reaching age 54, participants may make a one-time election to
diversify their Company contribution account into any other
investment fund or funds. Changes in investment direction or
transfers can be made by calling Putnam directly or by written
authorization.
Vesting
A participant's portion of the Employer matching contributions,
including investment income and realized and unrealized gains and
losses on investments, is fully vested after four years of
participation in the Plan (at the rate of 25% for each year).
<PAGE>
1. Description of the Plan (continued)
A participantbecomes fully vested after one of the following
events; death or termination of employment if the participant: (i)
retires after reaching age 55, with at least five years of service,
(ii) is permanently disabled, or (iii) enters the Armed Forces of
the United States. Participants are always fully vested in their
tax- deferred and regular deposit accounts.
Withdrawals
Participants may make a withdrawal from the Plan once during a
calendar quarter on any day. Participants may withdraw the amount
in their regular deposit account and, under certain circumstances,
the vested portion of their Employer matching contribution account
and tax-deferred account. Once a participant makes a withdrawal,
contributions will not be matched for a three-month period.
Distributions to Participants
Participation in the Plan terminates upon death, retirement, or
other termination of employment with the Company. Participants may
generally receive distributions of their vested interest in the
Plan in a lump-sum distribution, an annuity, or a combination
thereof.
Charges and Deductions
When a distribution of a participant's interest in the Plan results
in forfeiture of the nonvested portion of the participant's
account, the amount so forfeited reduces the amount of the
Employer's matching contribution required to be made on behalf of
other participants on subsequent employer deposits.
It is the intent of the Company to continue to pay the
administrative expenses of the Plan, but if the Company fails to
make the payments or so directs the Trustee, there may be a charge
against the Trust for these expenses.
Plan Termination
Although the Company has not expressed any intent to terminate the
Plan, it is free to do so at any time. In the event the Plan is
terminated, participants will automatically become fully vested.
<PAGE>
2. Principal Accounting Policies
Investment Valuation
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 value of shares held by the Plan at
year-end. The Wm. Wrigley Jr. Company Common Stock is valued at
its quoted market price on the New York Stock Exchange. There is
no established public trading market for the Wm. Wrigley Jr.
Company Class B Common Stock. However, because the Class B Common
Stock is at all times convertible into Common Stock on a
share-for-share basis, the market value of such shares is
considered to be equivalent to that of the Company's Common Stock.
Participant notes receivable are valued at cost which approximates
fair value.
For Plan years 1993 and 1992, investments in the Aetna Interest
Accumulation Fund (Separate Account 256), which invests primarily
in government securities, are carried at market. Investments in
the Aetna Growth and Income Equity Account (Separate Account 83),
which invests primarily in common stocks, are carried at fair value
based upon net asset value. Investments in The Northern Trust
Company Collective Short-Term Investment Fund are carried at cost,
which is equivalent to market.
Contributions
Contributions from participants are recognized when withheld by the
Company through payroll deductions.
Matching contributions from the Employer are recognized
concurrently with the recognition of participants' contributions.
Security Transactions
Purchases and sales of securities are accounted for on the trade
date. Gains and losses on sales or withdrawals of securities are
based on the average cost of the securities.
Income Recognition
Dividend income is recorded on the ex-dividend date. Income from
other investments is recorded as earned on the accrual basis.
<PAGE>
3. Investments
The components of net realized and unrealized appreciation
(depreciation) in market value of investments (including
investments bought, sold, and held) for the year ended December 31,
1994, are as follows:
<TABLE>
<CAPTION>
Putnam Putnam Putnam
Stable Growth & Putnam Global Wrigley
Value Income Vista Growth Stock
Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C>
Proceeds from sale of
investments or withdrawals of $ - $ 761,505 $ 453,691 $ 326,894 $18,010,751
stock
Cost of securities - 793,680 471,606 334,716 2,454,084
-------------------------------------------------------------
Realized gain (loss) - (32,175) (17,915) (7,822) 15,556,667
Change in unrealized
appreciation (depreciation) on
investments - (466,958) (169,456) (174,247) 12,543,960
-------------------------------------------------------------
Net realized and unrealized
appreciation (depreciation) in
market value $ - $(499,133) $(187,371) $(182,069) $28,100,627
=============================================================
</TABLE>
<PAGE>
3. Investments (continued)
The components of net realized and unrealized appreciation
(depreciation) in market value of investments (including
investments bought, sold, and held) for the two years in the period
ended December 31, 1993, are as follows:
<TABLE>
<CAPTION>
Fund A Fund B Fund C
1993 1992 1993 1992 1993 1992
<S> <C> <C> <C> <C> <C> <C>
Proceeds from sale
of investments or
withdrawals of
stock $ - $7,421,415 $ 514,818 $728,385 $ 8,262,577 $ 3,663,943
Cost of securities - 6,756,867 283,800 684,768 784,983 399,182
-----------------------------------------------------------------------
Realized gain - 664,548 231,018 43,617 7,477,594 3,264,761
Change in
unrealized
appreciation
(depreciation) on
investments 200,663 231,747 (298,507) 29,584 53,373,255 26,862,499
-----------------------------------------------------------------------
Net realized and
unrealized
appreciation
(depreciation) in
market value $200,663 $ 896,295 $ (67,489) $ 73,201 $60,850,849 $30,127,260
=======================================================================
</TABLE>
Unrealized appreciation on investments held at December 31, 1994,
1993, and 1992, totaled $219,752,739, $213,053,920, and
$159,773,510, respectively. The per share market value of Wm.
Wrigley Jr. Company Common Stock at December 31, 1994 and 1993, is
as follows:
<TABLE>
<CAPTION>
1994 1993
<S> <C> <C>
Wm. Wrigley Jr. Company Common Stock $49.375 $44.125
</TABLE>
4. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for plan
benefits per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
December 31
1994 1993
<S> <C> <C>
Net assets available for plan benefits per the financial
statements $306,683,723 $279,828,773
Amounts allocated to withdrawing participants (6,851,354) (5,444,082)
----------------------------
Net assets available for plan benefits per the Form 5500 $299,832,369 $274,384,691
============================
</TABLE>
<PAGE>
4. Reconciliation of Financial Statements to Form 5500 (continued)
Amounts allocated to withdrawing participants by fund option are as
follows:
<TABLE>
<CAPTION>
December 31
1994 1993
<S> <C> <C>
Putnam Stable Value Fund $ 551,202 $ -
Putnam Growth & Income Fund 83,739 -
Putnam Vista Fund 30,439 -
Putnam Global Growth Fund 36,315 -
Wm. Wrigley Jr. Company Common Stock 6,149,659 -
Fund A - 1,329,165
Fund B - 26,195
Fund C - 4,088,722
-------------------------
$6,851,354 $5,444,082
=========================
</TABLE>
The following is a reconciliation of benefits paid to participants
per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
Years ended December 31
1994 1993
<S> <C> <C>
Benefits paid to participants
per the financial statements $20,283,370 $21,310,804
Add: Amounts allocated to withdrawing participants at
December 31, 1994 6,851,354 5,444,082
Less: Amounts allocated to withdrawing participants at
December 31, 1993 (5,444,082) (3,808,766)
--------------------------
Benefits paid to participants per the Form 5500 $21,690,642 $22,946,120
==========================
</TABLE>
5. Federal Income Tax Status
The Company has received a determination letter from the Internal
Revenue Service stating the Plan, as amended through 1985,
qualifies under section 401(a) of the Internal Revenue Code (the
Code), and the Trust established thereunder is exempt from federal
income taxation under section 501(a) of the Code. The Company
believes the Plan, as amended and restated effective January 1,
1994, complies with the requirements for continuing qualification
of the Plan.
<PAGE>
5. Federal Income Tax Status (continued)
Employer contributions under the Plan and earnings of the Trust are
not taxable to the participant until the year in which such amounts
are distributed. Generally, whenever a participant receives any
amount other than an amount attributable to his regular deposit
account contributions, such amount is taxable as ordinary income in
the year of distribution. When a participant receives a lump-sum
distribution, certain beneficial rules may apply to reduce or
eliminate the tax on such distribution. These benefits include
special averaging techniques and rollovers to another qualified
employee retirement plan or to an individual retirement account or
annuity.
The unrealized appreciation on Wm. Wrigley Jr. Company Common Stock
distributed in a lump-sum distribution or attributable to a
participant's regular deposit account contributions in any other
distribution will not be subject to federal income tax at the time
of distribution but will, to the extent realized, be taxable upon
disposition of such shares.
<PAGE>
Consent of Independent Auditors
We consent to the incorporation by reference in the Registration
Statement (Form S-8, File No. 33-15061) pertaining to the Special
Investment and Savings Plan for Wrigley Employees of Wm. Wrigley
Jr. Company and in the related Prospectus of our report dated June
12, 1995, with respect to the financial statements of the Special
Investment and Savings Plan for Wrigley Employees included in this
Annual Report (Form 11-K) for the year ended December 31, 1994.
ERNST & YOUNG LLP
Chicago, Illinois
June 23, 1995
