PAGE 1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1993
SAVINGS AND INVESTMENT PLAN
OF E. I. DU PONT DE NEMOURS AND COMPANY
(FULL TITLE OF THE PLAN)
E. I. DU PONT DE NEMOURS AND COMPANY
1007 MARKET STREET
WILMINGTON, DELAWARE 19898
(NAME AND ADDRESS OF PRINCIPAL EXECUTIVE OFFICE OF ISSUER)
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1
<PAGE>
PAGE 2
INDEX
Page(s)
Report of Independent Accountants.................. 4
Statements of net assets available for Plan
benefits at September 30, 1993 and 1992......... 5-7
Statements of changes in net assets available
for Plan benefits for the years 1993 and 1992... 8-10
Notes to financial statements..................... 11-18
EXHIBITS
Exhibit
Number Description
24 Consent of independent accountants.
2
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PAGE 3
SIGNATURE
Pursuant to the requirements of the Securities and
Exchange Act of 1934, E. I. du Pont de Nemours and Company
has duly caused this Annual Report to be signed by the
undersigned hereunto duly authorized.
Savings and Investment Plan of
E. I. du Pont de Nemours and Company
Date: January 28, 1994
By ___________________________________
C. L. Henry
Senior Vice President-Finance
3
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PAGE 4
SIGNATURE
REPORT OF INDEPENDENT ACCOUNTANTS
To the Participants and Administrator of the Savings and
Investment Plan of E. I. du Pont de Nemours and Company
In our opinion, the financial statements listed in the
accompanying index present fairly, in all material respects,
the net assets available for plan benefits of the Savings
and Investment Plan of E. I. du Pont de Nemours and Company
at September 30, 1993 and 1992, and the changes in net
assets available for plan benefits for each of the two years
then ended, in conformity with generally accepted accounting
principles. These financial statements are the
responsibility of E. I. du Pont de Nemours and Company as
the Plan's 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
management, and evaluating the overall financial statement
presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
PRICE WATERHOUSE
Philadelphia, Pennsylvania
January 28, 1994
4
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<TABLE>
PA
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1993
(Dollars In Thousands, Except Unit Values)
<CAPTION>
3-Way DuPont Merrill
Fixed Family Asset Common Lynch
Income of Mutual Allocation Stock Loan Equity
Fund Funds Fund Fund Fund Index
---------- ---------- ---------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C>
Investments, at fair value
(Notes 1 and 3)
DuPont Company common stock
(cost $337,923) ............. $507,873
Pooled Investments (cost
$595,998).................... $235,865 $106,643 $212,534
Fixed income
(cost $4,701,973) ........... $4,701,973
Short-term investments & cash
(cost $48,287)................ 46,385 534 132 865 201
Loans to participants-
principal balance ........... $152,291
----------- --------- --------- --------- -------- ---------
Total investments .......... 4,748,358 236,399 106,775 508,738 152,291 212,735
Receivables
Due from the DuPont
Company ..................... 24,882 2,394 867 773 0 1,191
Due to participants ............. (5,378) (403) (104) (777) (199)
----------- --------- --------- --------- -------- ---------
Net assets available for plan
benefits .................... $4,767,862 $238,390 $107,538 $508,734 $152,291 $213,727
=========== ========= ========= ========= ======== =========
Unit or share values (Note 2) ... $73.36 $75.53 $11.39 $46.50 $28.29
====== ====== ====== ====== ======
The accompanying notes are an integral part of these financial statements.
Continued on next page
</TABLE>
5
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<TABLE>
PAGE 6
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1993 (Continued)
(Dollars In Thousands, Except Unit Values)
<CAPTION>
ML ML
Inter- ML ML Basic
national Balanced Capital Value
Holdings Fund Fund Fund Total
-------- --------- -------- -------- -----------
<S> <C> <C> <C> <C> <C>
Investments, at fair value
(Notes 1 and 3)
DuPont Company common stock
(cost $337,923) ............. $507,873
Pooled Investments (cost
$595,998).................... $29,482 $12,271 $34,925 $27,981 659,701
Fixed income
(cost $4,701,973) ........... 4,701,973
Short-term investments & cash
(cost $48,287)................ 56 11 71 32 48,287
Loans to participants-
principal balance ........... 152,291
-------- -------- ------- -------- ----------
Total investments .......... 29,538 12,282 34,996 28,013 6,070,125
Receivables
Due from the DuPont
Company ..................... 327 161 479 303 31,377
Due to participants ............. (27) (11) (70) (26) (6,995)
-------- --------- -------- -------- ---------
Net assets available for plan
benefits .................... $29,838 $12,432 $35,405 $28,290 $6,094,507
======= ======== ======== ======== ===========
Unit or share values (Note 2) ... $13.28 $13.02 $28.46 $23.71
====== ====== ====== ======
The accompanying notes are an integral part of these financial statements.
</TABLE>
6
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<TABLE>
PAGE 7
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1992
(Dollars In Thousands, Except Unit Values)
<CAPTION>
U.S 3-Way DuPont
Savings Fixed Family Asset Common Total
Bond Income of Mutual Allocation Stock Loan All
Fund Fund Funds Fund Fund Fund Funds
-------- ----------- --------- ---------- --------- --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Investments, at fair value
(Notes 1 and 3)
U.S. Savings Bonds, Series EE
(cost $12,155) .............. $12,922 $ 12,922
DuPont Company common stock
(cost $314,387) ............. $511,238 511,238
Pooled Investments (cost
$397,950).................... $376,360 $72,910 449,270
Fixed income
(cost $4,338,404) ........... $4,338,404 4,338,404
Short-term investments & cash
(cost $20,551)................. 100 14,926 576 31 4,918 20,551
Loans to participants-
principal balance ........... $125,083 125,083
------- ----------- -------- ------- -------- -------- -----------
Total investments .......... 13,022 4,353,330 376,936 72,941 516,156 125,083 5,457,468
Receivables
Due from the DuPont
Company ..................... 413 19,084 3,517 496 3,272 5,314 32,096
Transfers receivable (payable)
among funds ................. (48) 1,566 (2,141) (381) 679 325 0
Other ......................... (404) (404)
Due to participants ............. (33) (13,130) (632) (124) (1,301) (15,220)
------- ---------- -------- ------- -------- -------- -----------
Net assets available for plan
benefits .................... $13,354 $4,360,850 $377,680 $ 72,932 $518,806 $130,318 $5,473,940
======= ========== ======== ======= ======== ======== ==========
Unit or share values (Note 2) ... $67.10 $15.26 $47.50
====== ====== ======
</TABLE>
7
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<TABLE>
PAGE 8
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1993
(Dollars in Thousands)
<CAPTION>
U.S. 3-Way DuPont Merrill
Savings Fixed Family Asset Common Lynch
Bond Income of Mutual Allocation Stock Loan Equity
Fund Fund Funds Fund Fund Fund Index
-------- ----------- --------- ---------- --------- --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Investment income
Interest .............. $ 206 $ 407,251 $ 34 $ 5 $ 20 $ 12,479 $ 3
Dividends ............. 22 24,366 506 19,147 0
Distribution of Loan
investment income.... 0 9,941 706 211 1,121 (12,479) 325
------- ---------- -------- ------- -------- -------- ----------
Total investment
income ............ 206 417,214 25,106 722 20,288 0 328
Realized gains .......... 4,041 2,070 24,069 1,322
Net unrealized appre-
ciation (depreciation)
in fair value of
investments ........... 32,993 11,506 (26,783) 15,915
Contributions
DuPont Company's
contributions
(net of forfeiture
of $393) ............ 47,086 4,607 1,674 17,335 1,751
Participants'
savings ............. 2,697 210,876 22,197 6,782 6,012 7,317
TRASOP transfers ...... 828 2 1 6,648 2
------- ---------- -------- ------- -------- -------- ----------
2,903 676,004 88,946 22,755 47,569 0 26,635
------- ---------- -------- ------- -------- -------- ----------
Deliveries and
withdrawals ........... (14,624) (194,863) (8,449) (2,363) (22,703) (5,524) (4,965)
Net transfers among funds
Loans ................. (7) (69,682) (3,046) (1,280) (10,156) 87,746 (2,572)
Loan repayments ....... 2 48,377 3,476 1,011 3,941 (59,483) 1,687
Other authorized
transfers ........... (1,628) (47,026) (219,750) 14,626 (28,300) 0 193,374
Acquisitions
(Divestitures), net.... (7,142) (513) (176) (615) (831) (439)
Affiliated company
transfers in (out) .... 1,344 46 33 192 65 7
------- ---------- -------- ------- -------- -------- ----------
(16,257) (268,992) (228,236) 11,851 (57,641) 21,973 187,092
------- ---------- -------- ------- -------- -------- ----------
Change in net assets
available for plan
benefits for the
year .................. (13,354) 407,012 (139,290) 34,606 (10,072) 21,973 213,727
Net assets available
for plan benefits
Beginning of year ..... 13,354 4,360,850 377,680 72,932 518,806 130,318 0
------- ---------- -------- ------- -------- -------- ----------
End of year ........... $0 $4,767,862 $238,390 $107,538 $508,734 $152,291 $213,727
======= ========== ======== ======= ======== ======== ==========
The accompanying notes are an integral part of these financial statements.
Continued on next page
</TABLE>
8
<PAGE>
<TABLE>
PAGE 9
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1993 (Continued)
(Dollars in Thousands)
<CAPTION>
ML ML
Inter- ML ML Basic
national Balanced Capital Value
Holdings Fund Fund Funds Total
--------- --------- --------- -------- -----------
<S> <C> <C> <C> <C> <C>
Investment income
Interest .............. $ 1 $ 0 $ 1 $ 0 $420,000
Dividends ............. 183 973 866 46,063
Distribution of Loan
investment income.... 43 31 63 38 0
------- ----------- -------- -------- -----------
Total investment
income ............ 44 214 1,037 904 466,063
Realized gains .......... 168 174 332 159 32,335
Net unrealized appre-
ciation (depreciation)
in fair value of
investments............ 3,084 715 2,015 1,176 40,621
Contributions
DuPont Company's
contributions
(net of forfeiture
of $393) ............ 376 246 689 265 74,029
Participants'
savings ............. 1,814 1,083 3,062 1,167 263,007
TRASOP transfers ...... 0 0 0 7,481
------- ----------- --------- -------- -----------
5,486 2,432 7,135 3,671 883,536
------- ----------- --------- -------- -----------
Deliveries and
withdrawals ........... (231) (117) (728) (257) (254,824)
Net transfers among funds
Loans ................. (217) (218) (424) (144) 0
Loan repayments ....... 243 139 378 229 0
Other authorized
transfers ........... 24,605 10,207 29,101 24,791 0
Acquisitions
(Divestitures), net ... (48) (11) (73) (9,848)
Affiliated company
transfers in (out) .... 0 16 1,703
------- ---------- --------- -------- -----------
24,352 10,000 28,270 24,619 (262,969)
------- ----------- --------- -------- -----------
Change in net assets
available for plan
benefits for the
year .................. 29,838 12,432 35,405 28,290 620,567
Net assets available
for plan benefits
Beginning of year ..... 0 0 0 0 5,473,940
------- ----------- --------- -------- -----------
End of year ........... $29,838 $12,432 $35,405 $28,290 $6,094,507
======= =========== ========= ======== ===========
The accompanying notes are an integral part of these financial statements.
</TABLE>
9
<PAGE>
<TABLE>
PAGE 10
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
SEPTEMBER 30, 1992
(Dollars in Thousands)
<CAPTION>
U.S. 3-Way DuPont
Savings Fixed Family Asset Common Total
Bond Income of Mutual Allocation Stock Loan All
Fund Fund Funds Fund Fund Fund Funds
-------- ----------- --------- ---------- --------- --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
Investment income
Interest .............. $ 778 $ 385,652 $ 70 $ 34 $ 83 $ 12,403 $ 399,020
Dividends ............. 81 21,280 4,409 17,827 43,597
Distribution of loan
interest income<Fa>.. 1 10,853 1,121 193 235 (12,403) 0
-------- ---------- -------- ------- -------- -------- ----------
Total investment
income ............ 779 396,586 22,471 4,636 18,145 0 442,617
Realized gains (losses),
net ................... 4,690 2,666 14,288 21,644
Net unrealized appre-
ciation in fair
value of investments .. 3,729 1,472 10,615 15,816
Contributions
DuPont Company's
contributions
(net of forfeiture
of $627) ............ 38,276 5,574 1,571 29,576 74,997
Participants'
savings ............. 5,406 223,564 28,938 6,126 5,203 269,237
TRASOP transfers ...... 108 18,990 19,098
-------- ---------- -------- ------- -------- -------- ----------
6,185 658,534 65,402 16,471 96,817 0 843,409
-------- ---------- -------- ------- -------- -------- ----------
Deliveries and
withdrawals ........... (7,986) (153,823) (7,311) (1,773) (16,032) (6,484) (193,409)
Net transfers among funds
Loans ................. (15) (56,168) (3,643) (870) (6,365) 67,061 0
Loan repayments ....... 4 46,291 4,791 858 973 (52,917) 0
Other authorized
transfers ........... (26) (28,315) 37,481 (1,225) (7,915) 0
Acquisitions
(Divestitures), net ... 1,355 1 1,356
Affiliated company
transfers in (out) .... 3,962 (18) (236) 3,708
-------- ---------- -------- ------- -------- -------- ----------
(8,023) (186,698) 31,319 (3,028) (29,575) 7,660 (188,345)
-------- ---------- -------- ------- -------- -------- ----------
Change in net assets
available for plan
benefits for the
year .................. (1,838) 471,836 96,721 13,443 67,242 7,660 655,064
Net assets available
for plan benefits
Beginning of year ..... 15,192 3,889,014 280,959 59,489 451,564 122,658 4,818,876
-------- ---------- -------- ------- -------- -------- ----------
End of year ........... $13,354 $4,360,850 $377,680 $72,932 $518,806 $130,318 $5,473,940
======== ========== ======== ======= ======== ======== ==========
<FN>
<Fa> Reclassified for comparitive purposes.
</TABLE>
10
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PAGE 11
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS
NOTE 1 -- DESCRIPTION OF SAVINGS AND INVESTMENT PLAN:
THE PLAN
The Savings and Investment Plan of E. I. du Pont de Nemours and
Company (the "Plan") is a defined contribution Plan which was established by
the Company's Board of Directors and became effective September 1, 1955.
The purpose of the Plan is to encourage and assist employees in
following a systematic savings program suited to their individual objectives,
and to provide an opportunity for employees, at no cost to themselves, to
become stockholders of the Company. The Plan is a tax qualified contribu-
tory profit sharing plan. Any employee of the Company or its subsidiaries
(including Du Pont Merck Pharmaceutical Company (DMPC), a general partner-
ship which has adopted the Plan) and who has completed at least one year of
continuous service, as determined in accordance with the Company's Service
Rules, or who has been compensated for 1,000 or more hours in a period of
twelve consecutive months is eligible to participate in the Plan.
An eligible employee may authorize the Company to make a payroll
deduction under the Plan ranging from 1% to 22% of monthly pay. The amount
deducted can be deposited into a before-tax or after-tax account or some
combination thereof. Any amounts in excess of 16% are considered to be
cash supplemental deposits and must be deposited in the after-tax account.
The before-tax provision is permitted under Section 401(k) of the Internal
Revenue Code. Nondiscrimination rules of the Internal Revenue Code require
that the average savings rates in both the before-tax and after-tax accounts
of "Highly Compensated" employees (as defined by the IRS) should be limited
by the average savings rates of "Nonhighly Compensated" employees. At
September 30, 1993 and September 30, 1992, for the "Highly Compensated"
employees there was no limitation on the after-tax savings rate (other than
the Plan limit) and the allowable before-tax savings rate was 13% in both
years. At September 30, 1993 and September 30, 1992, the allowable
before-tax savings rate for DMPC was 11% and 3%, respectively. In addition,
in accordance with the Tax Reform Act of 1986, the Plan limited contribu-
tions by any employee to the before-tax account to $8,994 in 1993 and $8,728
in 1992. The Company will contribute an amount equal to 50% of the
participant's savings deductions during a month except that no Company
Contribution will be made for any participant's savings in excess of 6% of
monthly pay. In addition, subject to certain limitations, a participant is
allowed to make lump sum savings deposits in cash or through payroll
deduction to the Plan at any time.
A participant with less than five years of participation credit,
who withdraws any matched before-tax or after-tax savings will forfeit a
portion of related Company contributions in accordance with specific Plan
provisions. Company contributions will be suspended for six months if a
11
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PAGE 12
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
participant withdraws any matched before-tax or after-tax savings or Com-
pany contributions contributed to the account during the last two years
of participation or any earnings in the before-tax or after-tax accounts.
A participant who retires from active service may elect to make a full
account withdrawal in the later of the month in which employment was
terminated or March of the calendar year following the year in which the
participant attains age 70 1/2.
Participants may borrow up to one-half of their nonforfeitable
account balances subject to certain minimum and maximum loan limitations.
The loans are executed by promissory notes and have a minimum term of 12
months and a maximum term of 60 months, except for qualified residential
loans which have a maximum term of 120 months. The loans bear an interest
rate equal to the average rate for secured personal loans as determined by
the Plan administrator. The loans are repaid over the term in monthly
installments of principal and interest by payroll deduction. A participant
also has the right to repay the loan in full at any time without penalty.
INVESTMENT FUNDS
The following investment funds have been established with trustees
for the investment of employee savings and Company contributions. The nature
of the investments maintained in each fund is described below:
U.S. Savings Bond Fund -- United States Savings Bonds, Series EE in
$100 denominations. This fund was
eliminated as of May 1, 1993.
Fixed Income Fund -- Investments under agreement with one or more
financial institutions, including insurance
companies, banks and other investment
companies which provide for the return of
principal in full plus the payment of
interest at a predetermined rate for a
specific period of time. The fund's blended
rate of return for the 12 months ending
September 30, 1993 and September 30, 1992
was 9.3% and 9.8%, respectively.
Family of Mutual Funds -- A group of seven different mutual funds, each
with its own investment objectives, offered
through Fidelity Investments Institutional
Operations Company. As of January 13, 1993
these funds were transferred to similar
mutual funds at Merrill Lynch with the
exception of Magellan and Retirement Growth
which were combined into the Magellan fund.
The Magellan Fund continues to be shown under
the caption Family of Mutual Funds.
3-Way Asset Allocation Fund -- 3-Way Asset Allocation Fund with money
invested by Wells Fargo Nikko Investment
Advisors among stocks, bonds, and cash
(money market).
12
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PAGE 13
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
DuPont Common Stock Fund -- DuPont common stock.
Loan Fund -- Participant loans--amounts transferred from
the United States Savings Bond Fund, the
Fixed Income Fund, the Fidelity Family of
Mutual Funds, Merrill Lynch Mutual Funds, the
DuPont Common Stock Fund and/or the 3-Way
Asset Allocation Fund that are loaned to
participants.
Merrill Lynch Funds -- A group of 5 different mutual funds each with
its own investment objective offered through
Merrill Lynch.
Participants may allocate their before and after-tax savings
deductions and Company contributions among all Funds at their discretion.
Amounts contributed by the Company were not to be used to purchase U.S.
Savings Bonds.
At September 30, 1993 the Plan participants directed their savings
and the related matching Company contributions be invested in the following
funds (approximate number of participants in each fund): United States
Savings Bonds Fund (0); Fixed Income Fund (85,600); Family of Mutual
Funds (12,600); DuPont Common Stock Fund (53,300); 3-Way Asset Allocation
Fund (6,200); Merrill Lynch (ML)International Holdings (3,800); ML Balanced
Fund(2,000); ML Equity Index (8,600); ML Capital Fund (4,000); ML Basic Value
Fund (2,600). Approximately 22,600 participants had loans outstanding in
the Loan Fund at September 30, 1993.
ADMINISTRATION
The designated trustee of all the aforementioned funds is
Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch). The
administration of the Plan is vested in the Office of the Chairman of the
Company which may designate one or more persons to operate and administer the
Plan. The Finance Committee of the Company has the authority to appoint the
trustees and select insurers. All administrative costs of the Plan are paid
by the Company.
While 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,
all participants become vested and the distribution of shares of DuPont
common stock and all cash balances, including those resulting from the
liquidation of the Fixed Income Fund, the Fidelity Family of Mutual Funds,
the 3-Way Asset Allocation Fund, and Merrill Lynch Mutual Funds will be made
based upon the valuation of the participant's account.
13
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PAGE 14
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
NOTE 2 -- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
For financial reporting purposes, the assets of the Plan are
reflected on the accrual and fair value bases of accounting. The provi-
sions of the Employee Retirement Income Security Act of 1974 (ERISA) require
presentation based on fair value. The fair value of the United States
Savings Bonds Fund is based on the redemption values for U.S. Savings Bonds
which are published by the Department of Treasury. U.S. Savings Bonds are
nonredeemable for a six month period subsequent to purchase. Such bonds
purchased within six months prior to the September 30 period-end are valued
at cost. The Fixed Income Fund guaranteed investment contracts and separate
account portfolios are stated at cost plus accrued interest, using the con-
tracted interest rates applied to the daily account balances. Investments
in the Family of Mutual Funds, the DuPont Common Stock Funds, and Merrill
Lynch Mutual Funds are recorded at the latest price on the last business day
of the period reported. Investments in the 3-Way Asset Allocation Fund are
recorded at the fair market value of all assets in the Fund on the last
business day of the period reported. The fair value of loans to participants
in the Loan Fund represent the outstanding principal balances of the loans.
The unit value or price of the Fixed Income Fund, the 3-Way Asset
Allocation Fund, Merrill Lynch Mutual Funds and the DuPont Common Stock
Fund, reflect the prices at which participant's accounts are valued at the
end of the period reported. The "Net Asset Value" per share, or NAV, for
each Fund in the Family of Mutual Funds is computed by adding the value of
all portfolio holdings and other assets, deducting liabilities and then
dividing the result by the number of shares outstanding at month end.
Fidelity Investments Institutional Services Company calculates each of
these Funds' NAV at the close of each business day of the New York Stock
Exchange. There is no unit value for the United States Savings Bonds Fund
and the Loan Fund since U.S. Savings Bonds and loans are identified directly
with participants' accounts. The Company may, at its option, issue DuPont
common stock in lieu of cash contributions to the DuPont Common Stock Fund
and also in lieu of cash dividends on DuPont common stock. The number of
shares issued is based upon the cash value of the contributions and dividends
divided by the market value of DuPont common stock at the end of the month
of issue. Shares of DuPont common stock are allocated to participants in
the DuPont Common Stock Fund based on the ratio of the amount deposited to
each participant's account to the total amount contributed to the Fund.
Dividend income is recorded on the ex-dividend date and interest
income is recorded on the accrual basis. Gains and losses on the sale of
the DuPont Common Stock Fund investment securities are based on average
cost of the securities sold and are recognized on the trade date. Monthly
sales and purchases are netted to minimize brokerage fees.
14
<PAGE>
PAGE 15
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
NOTE 3 -- INVESTMENTS
The following presents the Plan's investments at fair value
(Note 2).
September 30, September 30,
1993 1992
------------ -------------
(Dollars in Thousands)
Investments at fair value
U. S. Savings Bonds ...................... $ 0 $ 12,922
Fixed income (guaranteed investment
contracts, separate account
portfolios) ............................ 4,701,973 4,338,404
DuPont Common Stock ..................... 507,873 511,238
Short-term investments & cash ............ 48,287 20,551
Loans to participants .................... 152,291 125,083
Pooled investments ....................... 659,701 449,270
---------- ----------
Total investments at fair value ........ $6,070,125 $5,457,468
========== ==========
The investment in U. S. Savings Bonds was eliminated as of May 1,
1993. The Plan held 10,922,006 shares of DuPont Common Stock at September
30, 1993. Short-term investments and cash represent funds deposited in the
the Fixed Income Fund, the Fidelity Family of Mutual Funds, the 3-Way Asset
Allocation Fund, the Du Pont Common Stock Fund, and the Merrill Lynch Mutual
Funds.
The pooled investments consist of the following:
September 30, 1993
---------------------------
Fair Market
Value Cost
----------- ----------
(Dollars in Thousands)
3-Way Asset Allocation Fund .............. $ 106,643 $ 95,313
Family of Mutual Funds (Magellan)........ 235,865 206,397
Merrill Lynch Mutual Funds ...........
Equity Index Trust..................... 212,534 196,619
International Holdings..................... 29,482 26,398
Balanced Fund........................... 12,271 11,555
Capital Fund .......................... 34,925 32,910
Basic Value Fund................. 27,981 26,806
---------- ----------
Total Pooled Investments ................. $ 659,701 $ 595,998
========== ==========
15
<PAGE>
PAGE 16
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
Fixed income guaranteed investment contracts and separate account
portfolios (*) at September 30, 1993 consist of the following:
Current
Description Value
----------- -----------
(Dollars in
Thousands)
Aetna Life Insurance Company--13.01%, 2/1/93 ................. $ 9,851
Aetna Life Insurance Company--7.73%, 1/02/97 *
EIN #06-0843808............................................. 93,002
Aetna Life Insurance Company--8.52%, 12/1/96 ................. 137,092
Aetna Life Insurance Company--8.73%, 12/1/96 ................. 138,825
Aetna Life Insurance Company--8.88%, 12/1/96 ................. 140,088
Aetna Life Insurance Company--8.89%, 12/1/00 ................. 95,055
Aetna Life Insurance Company--8.80%, 1/02/96 *
EIN #06-0843808............................................ 154,518
Aetna Life Insurance Company--8.9%, 12/1/99 .................. 121,585
Aetna Life Insurance Company--9.48%, 12/1/98.................. 154,667
Aetna Life Insurance Company--9.71%, 12/1/98 ................. 156,066
Allstate Life Insurance Company--8.50%, 12/3/01............... 110,869
Bankers Trust--5.896%, 12/31/99............................... 116,363
Citibank--5.37%, 12/31/2010................................... 24,749
Connecticut General Life Insurance Company--
12.81%, 11/30/93 ........................................... 6,461
John Hancock Mutual Life Insurance Company-- *
7.85%, 12/31/99 EIN #04-1414660............................. 146,825
John Hancock Mutual Life Insurance Company--
8.31%, 12/3/01 ............................................. 74,052
John Hancock Mutual Life Insurance Company--
8.89%, 12/1/99 ............................................. 121,552
John Hancock Mutual Life Insurance Company--
9.0%, 12/1/99 .............................................. 121,953
John Hancock Mutual Life Insurance Company--
9.4%, 12/1/98 .............................................. 154,183
Massachusetts Mutual Life Insurance Company--
9.15%, 12/1/00 ............................................. 92,523
Metropolitan Life Insurance Company--12.25%, 12/1/94.......... 57,910
Metropolitan Life Insurance Company-- 6.85%, 7/1/98 *
EIN 13-5581829 ............................................. 110,433
Metropolitan Life Insurance Company--9.64%, 12/1/98 .......... 155,640
New York Life Insurance Company--10.15%, 12/1/97 ............. 145,907
New York Life Insurance Company--6.45%, 3/31/94 *
EIN #13-5582869 ........................................... 129,141
New York Life Insurance Company--8.36%, 6/30/94 *
EIN #13-5582869 ........................................... 126,110
New York Life Insurance Company--8.95%, 6/30/94 *
EIN #13-5582869 ........................................... 92,141
16
<PAGE>
PAGE 17
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
Fixed income guaranteed investment contracts and separate account
portfolios (*) at September 30, 1993 consist of the following (continued):
Current
Description Value
----------- -----------
(Dollars in
Thousands)
New York Life Insurance Company--9.27%, 12/31/99.............. $ 78,216
New York Life Insurance Company--9.36%, 12/1/98............... 153,940
New York Life Insurance Company--9.66%, 12/1/98............... 46,626
New York Life Insurance Company--9.75%, 12/1/97............... 143,149
Prudential Life Insurance Company--10.48%, 12/1/95 ........... 72,652
Prudential Life Insurance Company--10.62%, 12/1/95 ........... 73,321
Prudential Life Insurance Company--10.65%, 12/1/97 ........... 149,388
Prudential Life Insurance Company--11.27%, 12/1/95 ........... 76,494
Prudential Life Insurance Company--12.49%, 12/1/94............ 58,922
Prudential Life Insurance Company--12.55%, 12/31/93........... 9,487
Prudential Life Insurance Company--13.45%, 12/1/94 ........... 63,219
Prudential Life Insurance Company-- 8.26%, 1/1/97.*
EIN# 22-1211670 ........................................... 94,108
Prudential Life Insurance Company--8.95%, 7/1/96 *
EIN# 22-1211670 ........................................... 92,109
Prudential Life Insurance Company--8.97%, 12/1/99 ............ 126,715
Prudential Life Insurance Company--9.6%, 12/1/00 ............. 80,641
Prudential Life Insurance Company--9.01%, 12/1/99 ............ 126,866
Travelers Life Insurance Company--10.17%, 12/1/97 ............ 146,060
Travelers Life Insurance Company--9.15%, 12/1/99 ............. 122,499
----------
Total investment in fixed income ........................ 4,701,973
Short-Term Investments ....................................... 46,385
----------
Total investment ......................................... $4,748,358
==========
NOTE 4 -- REALIZED AND UNREALIZED GAINS AND LOSSES
Realized and unrealized gains and losses are calculated based upon
historical cost of assets. Such gains and losses are computed on a current
value basis for Form 5500. The difference may result in a differing classi-
fication between realized and unrealized but the total gain or loss will be
unaffected.
17
<PAGE>
PAGE 18
SAVINGS AND INVESTMENT PLAN
OF
E. I. DU PONT DE NEMOURS AND COMPANY (THE "COMPANY")
NOTES TO FINANCIAL STATEMENTS - (Continued)
NOTE 5 -- INCOME TAX STATUS
The Savings and Investment Plan is a qualified plan pursuant to
Section 401(a) of the Internal Revenue Code and the related Trusts are
exempt from federal taxation under Section 501(a) of the Code. A favor-
able tax determination letter has been received by the Plan. Accordingly,
no provision has been made for federal income taxes in the accompanying
financial statements.
Participants in the Plan are not subject to federal income taxes
on account balances arising from employer contributions, tax-deferred
employee deposits, or accrued income until distributions or withdrawals
are made.
NOTE 6 -- Change of Trustee and Record Keeper
Effective January 1993 the record keeping of the Savings and
Investment Plan was transferred to Merrill Lynch, Pierce, Fenner & Smith
Incorporated (Merrill Lynch). Concurrently with this move, Merrill Lynch
became the Trustee for the Fixed Income, Family of Mutual, 3-Way Asset
Allocation, DuPont Common Stock, Loan and the Merrill Lynch Mutual Funds.
Wilmington Trust Company remained Trustee of the U.S. Savings Bond Fund until
its elimination . The Family of Mutual Funds at Fidelity Investments
Institutional Operations Company (Fidelity) were transferred to similar
mutual funds at Merrill Lynch with the exception of the Magellan and
Retirement Growth funds which were combined into the Magellan Fund.
NOTE 7 -- Wells Fargo Conversion
In November 1992, the Plan's position in the Wells Fargo Three Way
Asset Allocation Fund was converted from Monthly (U.S. Tactical Asset
Allocation Fund) to Daily (U.S. Tactical Asset Allocation Fund E). This
conversion resulted in a change of the base unit value to $10 per share with
a relative change in shares held to ensure no gain or loss for participants.
The conversion was necessary to allow daily trading of the Wells Fargo Fund.
18
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
24 Consent of independent accountants.
19
<PAGE>
SIGNATURE
Exhibit 24
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the
Prospectus constituting part of the Registration Statements
on Form S-8 (No. 33-36339) of E. I. du Pont de Nemours and
Company of our report dated January 28, 1994 appearing on
page 4 of the annual report of the Savings and Investment
Plan of E. I. du Pont de Nemours and Company on form 11-K
for the year ended September 30, 1993.
PRICE WATERHOUSE
Philadelphia, Pennsylvania
March 15, 1994
