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, 1993
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from
to
------------- -------------
COMMISSION FILE NUMBER 1-1136
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
BRISTOL-MYERS SQUIBB COMPANY
345 PARK AVENUE
NEW YORK, NY 10154
<PAGE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
INDEX TO FINANCIAL STATEMENTS AND SCHEDULE
DECEMBER 31, 1993
Page No.
-----------
Required Information F-2
Signature F-3
Report of Independent Accountants F-4
Statement of Net Assets - December 31, 1993 and 1992 F-5 to F-6
Statement of Changes in Net Assets - For the Years
Ended December 31, 1993 and 1992 F-7 to F-8
Notes to Financial Statements F-9 to F-14
Schedule I - Schedule of Investments S-1
Schedule II - Schedule of Reportable Transactions S-2 to S-3
Exhibit A - Consent of Independent Accountants E-1
F-1
<PAGE>
REQUIRED INFORMATION
1. The Financial Statements and Schedules of the Bristol-Myers Squibb
Puerto Rico, Inc. Savings and Investment Program prepared in
accordance with the financial reporting requirements of the Employee
Retirement Income Security Act of 1974, as amended.
Exhibit A. Consent of Price Waterhouse, Independent Accountants.
F-2
<PAGE>
SIGNATURE
The Program
- - -----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Bristol-Myers Squibb Company Savings Plan Committee has duly caused this
annual report to be signed on its behalf by the undersigned, hereunto duly
authorized.
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
Date: June 29, 1994 By: /s/ Michael F. Mee
--------------------- ---------------------------------
Michael F. Mee
Senior Vice President
and Chief Financial Officer
Chairman, Bristol-Myers Squibb
Company Savings Plan Committee
F-3
<PAGE>
To the Participants of the Bristol-Myers
Squibb Puerto Rico, Inc. Savings and Investment
Program and the Savings Plan Committee of
Bristol-Myers Squibb Company
Report of Independent Accountants
---------------------------------
In our opinion, the financial statements listed in the accompanying index
present fairly, in all material respects, the net assets of the
Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program (the
"Program") at December 31, 1993 and 1992, and the changes in the Program's
net assets for the years then ended, in conformity with generally accepted
accounting principles. These financial statements are the responsibility
of the plan administrator; our responsibility is to express an opinion on
these financial statements based on our audits. We conducted our audits
of these statements in accordance with generally accepted auditing
standards which 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, assessing the accounting principles used and significant
estimates made by the plan administrator, and evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information
included in Schedules I and II, although required by ERISA, is presented
for purposes of additional analysis and is not a required part of the
basic financial statements. The information in Schedules I and II has
been subjected to the auditing procedures applied in the audits of the
basic financial statements and, in our opinion, is fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
/s/ PRICE WATERHOUSE
- - ----------------------------
PRICE WATERHOUSE
New York, New York
June 8, 1994
F-4
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
STATEMENT OF NET ASSETS
DECEMBER 31, 1993
<CAPTION>
Company Diversified Fixed Income
Total Stock Fund Equity Fund Fund
----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
Assets:
Investments, at fair value (Notes 1 and 2):
Interest in Master Trust (Note 6) $11,081,208 $10,515,837 $565,371 -
John Hancock Mutual Life Annuity
Contract 7111 1,129,568 - - $1,129,568
New York Life Annuity
Contract 06607 2,088,793 - - 2,088,793
New York Life Annuity
Contract 05833 786,593 - - 786,593
New York Life Annuity
Contract 06252 1,216,357 - - 1,216,357
----------- ----------- -------- ----------
Total investments 16,302,519 10,515,837 565,371 5,221,311
Contributions receivable:
Participants 302,894 123,988 14,176 164,730
Employer 153,324 152,404 45 875
Inter-fund transfers receivable (payable) - 51,759 450 (52,209)
Interest receivable 11 - - 11
----------- ----------- -------- ----------
Total assets 16,758,748 10,843,988 580,042 5,334,718
Less:
Withdrawals and distributions payable 555,826 310,551 18,442 226,833
----------- ----------- -------- ----------
Net assets $16,202,922 $10,533,437 $561,600 $5,107,885
=========== =========== ======== ==========
Number of units 6,219,458 283,757 2,898,770
========= ======= =========
Net asset value per unit $1.69 $1.98 $1.76
===== ===== =====
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-5
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
STATEMENT OF NET ASSETS
DECEMBER 31, 1992
<CAPTION>
Company Diversified Fixed Income
Total Stock Fund Equity Fund Fund
---------- ---------- ----------- ------------
<S> <C> <C> <C> <C>
Assets:
Investments, at fair value (Notes 1 and 2):
Interest in Master Trust (Note 6) $10,230,701 $9,799,175 $431,526 -
New York Life Annuity
Contract 06252 1,601,197 - - $1,601,197
New York Life Annuity
Contract 06607 1,607,865 - - 1,607,865
Massachusetts Mutual Life Annuity
Contract 5639 515,512 - - 515,512
New York Life Annuity
Contract 05833 1,027,008 - - 1,027,008
----------- ---------- -------- ----------
Total investments 14,982,283 9,799,175 431,526 4,751,582
Contributions receivable:
Participants 284,152 126,130 10,465 147,557
Employer 150,843 150,275 74 494
Inter-fund transfers receivable (payable) - (3,174) - 3,174
----------- ---------- -------- ----------
Total assets 15,417,278 10,072,406 442,065 4,902,807
Less:
Withdrawals and distributions payable 346,351 176,624 7,570 162,157
----------- ---------- -------- ----------
Net assets $15,070,927 $9,895,782 $434,495 $4,740,650
=========== ========== ======== ==========
Number of units 5,270,378 236,188 2,908,526
========== ======== ==========
Net asset value per unit $1.88 $1.84 $1.63
===== ===== =====
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-6
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
STATEMENT OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1993
<CAPTION>
Company Diversified Fixed Income
Total Stock Fund Equity Fund Fund
----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
Net assets, January 1, 1993 $15,070,927 $ 9,895,782 $434,495 $4,740,650
Inter-fund transfers - (127,457) 13,595 113,862
Contributions (Notes 1 and 3):
Participants 3,676,531 1,789,618 145,496 1,741,417
Employer 1,453,740 1,451,801 301 1,638
----------- ----------- -------- ----------
5,130,271 3,241,419 145,797 1,743,055
----------- ----------- -------- ----------
Investment income:
Program's share of earnings and net realized
and unrealized (losses)/gains of interest in
Master Trust (Notes 1, 2 and 6) (867,081) (913,667) 46,586 -
Interest from insurance annuity contracts 392,910 - - 392,910
----------- ----------- -------- ----------
(474,171) (913,667) 46,586 392,910
----------- ----------- -------- ----------
Withdrawals and distributions to
participants (Notes 1, 3 and 4) (3,524,105) (1,562,640) (78,873) (1,882,592)
----------- ----------- -------- -----------
Net assets, December 31, 1993 $16,202,922 $10,533,437 $561,600 $5,107,885
=========== =========== ======== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-7
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
STATEMENT OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1992
<CAPTION>
Company Diversified Fixed Income
Total Stock Fund Equity Fund Fund
----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
Net assets, January 1, 1992 $15,021,697 $10,313,747 $345,522 $4,362,428
Consolidation of the Concept, Inc. Employees'
Savings Plan and Trust into the Bristol-
Myers Squibb Puerto Rico, Inc. Savings and
Investment Program (Note 1) 104,957 38,612 16,548 49,797
Inter-fund transfers - (20,327) (1,190) 21,517
Contributions (Notes 1 and 3):
Participants 3,218,551 1,635,537 94,710 1,488,304
Employer 1,741,122 1,741,884 (348) (414)
---------- --------- -------- ----------
4,959,673 3,377,421 94,362 1,487,890
---------- --------- -------- ----------
Investment income:
Program's share of earnings and net realized
and unrealized (losses)/gains of interest
in Master Trust (Notes 1, 2 and 6) (2,253,904) (2,284,374) 30,470 -
Interest from insurance annuity contracts 394,863 - - 394,863
----------- ----------- -------- -----------
(1,859,041) (2,284,374) 30,470 394,863
----------- ----------- -------- -----------
Withdrawals and distributions to
participants (Notes 1, 3 and 4) (3,156,359) (1,529,297) (51,217) (1,575,845)
----------- ----------- -------- -----------
Net assets, December 31, 1992 $15,070,927 $9,895,782 $434,495 $4,740,650
=========== =========== ======== ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-8
<PAGE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PLAN
- - --------------------------------
General
- - -------
The Bristol-Myers Puerto Rico, Inc. Savings Plan (the "Plan") became
effective on July 1, 1986. Bankers Trust Company was appointed the trustee
under the terms of a Trust Agreement with Chase Manhattan Bank as
co-trustee.
Effective January 1, 1991, the name of the Plan was changed to the
Bristol-Myers Squibb Puerto Rico, Inc. Savings Plan (the "Savings Plan").
Effective January 1, 1991, The Northern Trust Company was appointed trustee
(the "Trustee") of the Savings Plan under the terms of a new Trust Agreement
(the "Trust"), replacing Bankers Trust Company, with Chase Manhattan Bank
remaining as co-trustee. The net assets of the Savings Plan were then
transferred to the Trustee.
Effective January 1, 1992, the name of the Savings Plan was changed to the
Bristol-Myers Squibb Puerto Rico, Inc. Savings and Investment Program (the
"Program"). Simultaneously, the Program was amended to permit participant
contributions on a pre-tax basis under Section 401(k) of the Internal
Revenue Code and Section 165(e) of the Puerto Rico Income Tax Act of 1954
and to permit the adoption of the Program by Zimmer Caribe, Inc. employees.
The Program was further amended and consolidated to integrate and merge a
portion of the Concept, Inc. Employees' Savings Plan and Trust that was
maintained for the benefit of certain employees and former employees of
Concept Puerto Rico into the Program and to permit adoption of the Program
by the employees of Xomed-Treace, P.R., Inc. The net assets attributable to
the Concept, Inc. Employees' Savings Plan and Trust participants, amounting
to $104,957, were transferred at the December 31, 1991 market values into
the Program.
The Program operates within a master trust (the "Master Trust"), which
consolidates the assets of the Program with those of the Bristol-Myers
Squibb Company Savings and Investment Program (the "Savings Program"), the
Bristol-Myers Squibb Company Employee Incentive Thrift Plan (the "Thrift
Plan"), the Drackett/Bristol-Myers Squibb Employees' Pension Plan and
certain assets of the Bristol-Myers Squibb Pension Trust Plans. The assets
of the Savings Program, the Thrift Plan and the Company Stock and
Diversified Equity Funds of the Program (collectively the "Savings Plans")
are not commingled with the assets of the pension plans and the Fixed Income
Fund of the Program. For purposes of the Program's financial statements,
Note 6 only includes the interest of the Savings Plans.
The Program is administered by an Administrative Committee appointed by the
Board of Directors of Bristol-Myers Squibb Puerto Rico, Inc. (the
"Company").
F-9
<PAGE>
Contributions
- - -------------
In general, any employee who meets certain service requirements is eligible to
participate in the Program. Participants of the Program can elect to
contribute up to 16% of their annual salaries or wages. For each participant,
the first 6% of total contributions is matched 75% by the Company. Participant
contributions may be invested, as directed by the participant, in any one or
equally in any two or more of the following funds: the Company Stock Fund, the
Diversified Equity Fund and the Fixed Income Fund.
Company matching contributions are automatically invested in the Company Stock
Fund. These contributions may not be transferred out of the Company Stock Fund
unless the participant is 55 years old or older. If the participant is 55
years old or older, he or she may elect to have the investment of Company
matching contributions follow the participant contribution investment
direction.
Effective January 1, 1992, with the establishment of the pre-tax provision,
participants can elect to contribute up to 16% of their annual salaries or
wages on an after-tax basis or reduce their compensation by up to the lesser of
$7,000 or 10% and have such amount contributed on their behalf on a pre-tax
basis. Participants may also elect a combination of contributions up to a
combined total on both an after-tax and a pre-tax basis of 16%.
Investments
- - -----------
The contributions of participants and the Company are remitted monthly to the
Trustee. Each participant must direct that his or her contributions be
invested in one or more of the three funds of the Program.
The three funds under the Program are:
Company Stock Fund - Consists of Common Stock of Bristol-Myers Squibb
Company which, to the extent required by law, are registered for the
purpose of the Program with the United States Securities and Exchange
Commission. From time-to-time, the Program may invest in U.S. Government
obligations or other investments of a short-term nature which will
ultimately be used for the purchase of shares of Common Stock of
Bristol-Myers Squibb Company.
Diversified Equity Fund - Consists of participating units of an S&P 500
Equity Index Fund (the "Index Fund") managed by Bankers Trust Company.
The Index Fund includes the common stock of those companies included in the
S&P 500, including Bristol-Myers Squibb Company and its subsidiaries. Also
included within this fund are investments in U.S. Government obligations or
other investments of a short-term nature and investments in any commingled
trusts established and maintained by the Trustee, for the investment of
funds of trusts of profit sharing and pension plans, which trusts are
exempt from tax under Section 501(a) of the Internal Revenue Code, as the
Trustee in its discretion may choose.
F-10
<PAGE>
Fixed Income Fund - Consists of a group of annuity contracts (the
"Contracts") issued by John Hancock Mutual Life Insurance Company ("John
Hancock") and New York Life Insurance Company ("New York Life") to the
Trustee of the Program under which the insurance companies provide a
guarantee of principal and credit interest monthly at a guaranteed rate.
According to the terms of the Contracts, the effective annual rate is 6.00%
for the John Hancock Mutual Life contract and 9.70%, 8.80% and 7.30%,
respectively, for the three New York Life contracts. The guarantee
expiration dates are July 31, 1998 for the John Hancock contract and July
31 of 1994, 1996, and 1997 for the New York Life contracts.
As a result of the January 1, 1992 merger of the Concept, Inc. Employees'
Savings Plan and Trust and the adoption of the Program by Zimmer Caribe, Inc.
and Xomed-Treace, P.R., Inc. employees, 72 participants began contributing to
the Program. At December 31, 1993 and 1992, 2,004 and 2,087 participants were
contributing to the Program, respectively.
Withdrawals
- - -----------
While remaining in employment, a participant may withdraw all or part of the
cash value of all units attributable to contributions made subject to certain
restrictions of the Program.
Termination of employment
- - -------------------------
Upon the termination of a participant's employment, the participant, or in the
event of his or her death, the participant's spouse or designated beneficiary,
may, under varying circumstances, receive (1) a lump sum payment, (2)
installment payments over a period not to exceed the joint life expectancy of
the participant and the participant's spouse (five years if payment is by
reason of death) or (3) an annuity. In each case the payment will be based on
the vested value in the respective funds allocated to the participant. A
participant vests in Company contributions at the rate of 20% for each year of
qualifying service so that after five years of qualifying service he or she is
100% vested. Upon death or normal retirement, a participant will become 100%
vested regardless of his or her years of qualifying service. Participants who
return to work for the Company who were partially or fully vested will be
reinstated to their previous level of vesting and may immediately enroll in the
Program.
NOTE 2 - ACCOUNTING POLICIES
- - ----------------------------
Valuation
- - ---------
Securities traded on a national securities exchange are valued at their last
reported sales price at the end of the year or, if there was not a sale that
day, the last reported bid price. Securities traded in the over-the-counter
market are valued at the last reported bid price at the end of the year. The
group annuity contracts in the Fixed Income Fund are valued at cost plus
interest earned. The proportionate interest of the Program's assets of the
Funds in the Master Trust is determined by the Trustee. The Program's interest
consists of the dollar amount of collective participant ownership interest
held.
F-11
<PAGE>
Income, expenses and realized and unrealized gains and losses on securities
- - ---------------------------------------------------------------------------
Income, expenses and realized and unrealized gains and losses from
participation in the Master Trust are apportioned to the Program based on the
dollar amount of ownership interest held at the end of each month. Interest
is accrued as earned, and dividends are recorded on the ex-dividend date.
Realized gains and losses for securities sold are recorded on the trade date
and are determined using the average cost method. Unrealized gains and losses
represent the difference between the cost and fair value of securities.
All expenses of administering the Program, including the fees and expenses of
the Trustee, are borne by the Company.
NOTE 3 - TERMINATION FORFEITURES
- - --------------------------------
Forfeitures of amounts contributed by the Company due to terminations, net of
amounts reinstated, are reported as reductions of Company contributions.
Forfeitures for the years ended December 31, 1993 and 1992 were:
Fund 1993 1992
------------------- ------- -------
Company Stock $37,173 $35,876
Diversified Equity 623 1,359
Fixed Income 2,566 2,252
------- -------
$40,362 $39,487
======= =======
NOTE 4 - INCOME TAXES
- - ---------------------
In the Program's latest determination letter, the Internal Revenue Service
and the Puerto Rico Department of Treasury stated that the Program, as then
designed, was in compliance with the applicable requirements of the Internal
Revenue Code and the Puerto Rico Income Tax Act of 1954, respectively. The
Program has been amended since receiving the determination letter. However,
the plan administrator believes that the Program is currently designed and
being operated in compliance with the applicable requirements of the Internal
Revenue Code and the Puerto Rico Income Tax Act of 1954. Therefore, the plan
administrator believes that the Program was qualified and the related Trust
was tax-exempt as of December 31, 1993.
Under present U.S. and Puerto Rico income tax laws and regulations, a
participant will not be subject to income taxes on the contributions by the
employing company, or on the interest, dividends or profits on the sale of
securities received by the Trustee until the participant's account is
distributed to the participant.
NOTE 5 - TERMINATION OF THE PROGRAM
- - -----------------------------------
Although the Company has not expressed any intent to terminate the Program,
it may do so at any time. If the Program is terminated, the interest of each
participant in all funds will vest immediately.
F-12
<PAGE>
<TABLE>
NOTE 6 - MASTER TRUST STATEMENTS
- - --------------------------------
At December 31, 1993 and 1992, the net assets of the Master Trust relating to
the Savings Plans were as follows ($000 Omitted):
<CAPTION>
December 31,
--------------------------------------------------
1993 1992
----------------------- -----------------------
Company Diversified Company Diversified
Stock Fund Equity Fund Stock Fund Equity Fund
---------- ----------- ---------- -----------
<S> <C> <C> <C> <C>
Investments, at fair value $696,038 $188,438 $761,150 $158,534
Interest receivable 124 21 153 16
Receivable from sale of
securities 2,300 - - -
Payable for purchase of
securities (2,500) - (3,000) -
-------- -------- -------- --------
Net assets $695,962 $188,459 $758,303 $158,550
======== ======== ======== ========
Program's interest in net assets $10,516 $565 $9,799 $432
======= ==== ====== ====
</TABLE>
At December 31, 1993, the investments of the Master Trust relating to the
Savings Plans were as follows ($000 Omitted):
Principal amount
or number of Market
shares or units Company Stock Fund Cost Value
- - ---------------- ------------------------------ --------- --------
Bristol-Myers Squibb Company
11,898,337 Common Stock $487,291 $691,591
Participation in COLTV Funds:
$4,447 Short-Term Funds 4,447 4,447
-------- --------
Total Company Stock Fund $491,738 $696,038
======== ========
Diversified Equity Fund
-----------------------------
Bankers Trust Company S&P 500
189,671 Equity Index Fund $134,429 $187,518
$1 Bankers Trust Company Discretionary
Cash Fund 1 1
Participation in COLTV Funds:
$919 Short-Term Funds 919 919
-------- --------
Total Diversified Equity Fund $135,349 $188,438
======== ========
F-13
<PAGE>
At December 31, 1992, the investments of the Master Trust relating to the
Savings Plans were as follows ($000 Ommitted):
Principal amount
or number of Market
shares or units Company Stock Fund Cost Value
- - ---------------- ------------------------------ -------- --------
Bristol-Myers Squibb Company
11,249,452 Common Stock $446,407 $757,932
Participation in COLTV Funds:
$3,218 Short-Term Funds 3,218 3,218
-------- --------
Total Company Stock Fund $449,625 $761,150
======== ========
Diversified Equity Fund
-----------------------------
Bankers Trust Company S&P 500
176,646 Equity Index Fund $120,364 $158,499
Participation in COLTV Funds:
$35 Short-Term Funds 35 35
-------- --------
Total Diversified Equity Fund $120,399 $158,534
======== ========
For the years ended December 31, 1993 and 1992, the net investment (loss)/income
of the Master Trust relating to the Savings Plans was as follows ($000 Omitted):
For the Year Ended December 31,
-----------------------------------------------
1993 1992
----------------------- -----------------------
Company Diversified Company Diversified
Stock Fund Equity Fund Stock Fund Equity Fund
---------- ----------- ---------- -----------
Investment income:
Interest $ 1,712 $ 226 $ 1,578 $ 209
Dividends 32,933 - 22,101 -
--------- ------- -------- --------
34,645 226 23,679 209
--------- ------- -------- --------
Net realized gain on securities
sold or distributed:
Proceeds 29,899 5,699 21,737 5,045
Cost 26,835 4,270 9,383 4,317
--------- ------- -------- --------
Net realized gain 3,064 1,429 12,354 728
--------- ------- -------- --------
Change in unrealized
appreciation:
Net appreciation at the end
of the year 204,300 53,089 311,525 38,135
Net appreciation at the
beginning of the year 311,525 38,135 538,155 27,488
--------- ------- ---------- --------
(107,225) 14,954 (226,630) 10,647
--------- ------- ---------- --------
Net investment (loss)/income $(69,516) $16,609 $(190,597) $ 11,584
========= ======= ========== ========
Program's interest in net
investment (loss)/income $(914) $47 $(2,285) $31
====== === ======== ===
F-14
<PAGE>
Schedule I
BRISTOL-MYERS SQUIBB PUERTO RICO, INC.
SAVINGS AND INVESTMENT PROGRAM
SCHEDULE OF INVESTMENTS
DECEMBER 31, 1993
Market
Fixed Income Fund Cost Value
- - -------------------------------------------- ---------- ----------
Group Annuity Contract, NY Life Insurance
Company 8.80% interest rate, maturing
7/31/96 (06252) $1,216,357 $1,216,357
Group Annuity Contract, NY Life Insurance
Company 7.30% interest rate, maturing
7/31/97 (06607) 2,088,793 2,088,793
Group Annuity Contract, John Hancock Life
Insurance Company, 6.00% interest rate,
maturing 7/31/98 (7111) 1,129,568 1,129,568
Group Annuity Contract, NY Life Insurance
Company 9.70% interest rate, maturing
7/31/94 (05833) 786,593 786,593
---------- ----------
Total Fixed Income Fund $5,221,311 $5,221,311
========== ==========
S-1
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC. SCHEDULE II
SAVINGS AND INVESTMENT PROGRAM
SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1993
<CAPTION>
Aggregate Net Realized
Number of Aggregate Proceeds Gain (Loss)
Identity of Party Involved Description of Asset Transactions Purchases From Sale From Sale
- - -------------------------- -------------------- ------------ --------- --------- -----------
<S> <C> <C> <C> <C> <C>
Under Section 2520.103-6(c)(i)
- - ------------------------------
None
Under Section 2520.103-6(c)(ii)
- - -------------------------------
None
Under Section 2520.103-6(c)(iii)
- - --------------------------------
The Northern Trust Company Collective Short-Term 28 3,003,421 -
Investment Fund 26 3,003,421 -
The Massachusetts Mutual Life Group Annuity Contract 8 24,845 -
Insurance Company GIC 5639 14 540,357 -
John Hancock Mutual Life Group Annuity Contract 15 1,238,641 -
Insurance Company GAC 7111 9 109,074 -
New York Life Insurance Group Annuity Contract 13 89,183 -
Company GA 05833 23 329,598 -
</TABLE>
S-2
<PAGE>
<TABLE>
BRISTOL-MYERS SQUIBB PUERTO RICO, INC. SCHEDULE II (cont.)
SAVINGS AND INVESTMENT PROGRAM
SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1993
<CAPTION>
Aggregate Net Realized
Number of Aggregate Proceeds Gain (Loss)
Identity of Party Involved Description of Asset Transactions Purchases From Sale From Sale
- - -------------------------- -------------------- ------------ --------- --------- -----------
<S> <C> <C> <C> <C> <C>
Under Section 2520.103-6(c)(iii)
- - --------------------------------
(continued)
New York Life Insurance Group Annuity Contract 13 126,906 -
Company GA 06252 23 511,746 -
New York Life Insurance Group Annuity Contract 34 1,243,138 -
Company GA 06607 23 762,210 -
Under Section 2520.103-6(c)(iv)
- - -------------------------------
See Section 2520.103-6(c)(iii)
</TABLE>
S-3
<PAGE>
EXHIBIT A
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Form S-8 (No. 33-44788) of
Bristol-Myers Squibb Company of our report dated June 8, 1994 appearing on
page F-4 of this Form 11-K.
/s/ PRICE WATERHOUSE
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PRICE WATERHOUSE
New York, New York
June 8, 1994
E-1
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