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EXHIBIT 99.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
FORM 11-K
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE FISCAL YEAR ENDED FEBRUARY 29, 2000
or
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ______________ to _____________
Commission File Number _______________
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below.
ANHEUSER-BUSCH GLOBAL EMPLOYEE STOCK PURCHASE PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
ANHEUSER-BUSCH COMPANIES, INC.
One Busch Place
St. Louis, Missouri 63118
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REQUIRED INFORMATION
Report of Independent Accountants.
Statements of Net Assets Available for Benefits February 29, 2000.
Statements of Changes in Net Assets Available for Benefits February 29, 2000.
Notes to financial statements.
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ANHEUSER-BUSCH
GLOBAL EMPLOYEE STOCK
PURCHASE PLAN
February 29, 2000
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
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TABLE OF CONTENTS
FEBRUARY 29, 2000
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Report of Independent Accountants 1
Statement of Net Assets Available for Benefits 2
Statement of Changes in Net Assets Available for Benefits 3
Notes to Financial Statements 4-6
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REPORT OF INDEPENDENT ACCOUNTANTS
To the Participants and Administrator of
The Anheuser-Busch Global Employee Stock Purchase Plan
In our opinion, the accompanying statement of net assets available for
benefits and the related statement of changes in net assets available for
benefits present fairly, in all material respects, the net assets available
for benefits of The Anheuser-Busch Global Employee Stock Purchase Plan (the
"Plan") at February 29, 2000, and the changes in net assets available for
benefits for the year ended February 29, 2000 in conformity with accounting
principles generally accepted in the United States. 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 of these statements in accordance
with auditing standards generally accepted in the United States, 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.
PricewaterhouseCoopers LLP
May 26, 2000
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
FEBRUARY 29, 2000
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FEBRUARY 29, 2000
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ASSETS
Investments at fair value:
Anheuser-Busch Companies, Inc. common stock $0
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LIABILITIES
Benefits payable $0
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Net assets available for benefits $0
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The accompanying notes are an integral part of the financial statements.
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FEBRUARY 29, 2000
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FEBRUARY 29, 2000
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Contributions by participants $ 27,755
Shares purchased by participants (27,755)
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Increase in net assets during the year $0
Net assets available for benefits,
beginning of year $0
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Net assets available for benefits,
end of year $0
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The accompanying notes are an integral part of the financial statements.
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
NOTES TO FINANCIAL STATEMENTS
FEBRUARY 29, 2000
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1. DESCRIPTION OF PLAN
The following brief description of the Anheuser-Busch Global Employee
Stock Purchase Plan (the Plan) is intended to give a general summary
of its principal provisions. Participants should refer to the Plan
document for more complete information.
Purpose of the Plan
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The plan is an employee stock purchase plan designed to encourage
ownership of shares in Anheuser-Busch Companies, Inc. (the Company) by
permanent employees of the Company and its subsidiaries located outside
the United States. The Plan commenced March 1, 1999.
PLAN ADMINISTRATION
The Company administers the Plan. The Company has appointed Watson Wyatt
Worldwide, an international employee benefits consulting firm, to assist
in plan administration and record keeping. The Company has selected DB
Alex. Brown, a securities broker in the United States, as the Plan broker
to hold purchased shares on behalf of Plan participants. Neither of
these entities is related to the Company as an affiliate or subsidiary.
The broker maintains custody of all stock purchased by participants and
is responsible for delivery of shares of stock sold by the participants,
except as otherwise directed by the participants.
PLAN BENEFITS
Under the Plan, participants enrolled in the plan on the offer date each
year will be given the right to purchase up to 100 shares of the
Company's common stock at the offering price, which is fixed at the
market price on the United States business day prior to the offer date.
The offer date is generally March 1. Purchases can only be made if the
market price on the employee's purchase date is higher than the offer
price. For the plan year ended February 29, 2000, the offer date varied
from jurisdiction to jurisdiction. Each year's offer expires on the third
anniversary of the offer date.
If shares purchased through the Plan are held in the participant's DB
Alex. Brown account for at least two years after the purchase date, the
Company will award additional shares at a rate of 10%, 30%, or 50% of
shares purchased depending upon business performance. The rate for
additional share awards will be determined and announced prior to the
offer date.
All contributions used to purchase shares must be accumulated in
a local savings account in the name of the participant through
payroll deductions. Withdrawals from the savings account can be
made at any time. However, deposits may only be made by payroll
deduction; therefore, previous withdrawals cannot be replaced
for the purpose of purchasing shares. The participant maintains
full ownership of the cash used to purchase shares as
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
NOTES TO FINANCIAL STATEMENTS
FEBRUARY 29, 2000
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well as the newly issued shares that are purchased. Thus, there are no
assets held by the Plan.
In the United Kingdom, there is a sub-plan designed to qualify for
favorable tax treatment for employees who participate. Under this
"savings related share option scheme," employees enter into a three-year
savings contract and are eligible to purchase shares at the end of the
three-year period.
EXPENSES OF THE PLAN
Under the Plan agreement, the Company may pay all expenses incurred in
the administration of the Plan, including custodial fees, but is not
obligated to do so. If shares purchased under the Plan are subsequently
sold by the participant, the participant is responsible for all fees,
commissions, and other costs incurred in such transactions. All expenses
of the plan year ended February 29, 2000 were paid by the Company and are
not reflected in the financial statements of the Plan.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The Plan's financial statements are prepared on the accrual basis of
accounting.
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of additions to and
deductions from net assets during the reporting period. Actual results
could differ from those estimates.
VALUATION OF THE COMPANY'S STOCK
The offering or purchase price of the Company's common stock shares is
determined by the market price of the stock on the day prior to the offer
date. Market price is defined as the closing price of one share in the
United States as reported the subsequent day in the West Coast edition of
The Wall Street Journal, New York Stock Exchange Transactions-Composite
Transactions.
3. DIVIDENDS ON PURCHASED SHARES
Any dividends paid on shares purchased under the Plan are retained by the
respective participants and will be reinvested in additional shares for
the benefit of the participants unless the participant elects otherwise
or the law requires otherwise. Shares purchased with reinvested
dividends are not eligible for the additional share awards.
4. TAX WITHHOLDING
Where required by law, the Company and its subsidiaries will report to
the appropriate governmental authority any amount subject to tax and
social charges on account of
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ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
NOTES TO FINANCIAL STATEMENTS
FEBRUARY 29, 2000
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any offer, purchase or sale pursuant to the Plan. Participants are
responsible for all tax and social charge liabilities by means of
withholding from the participants' current pay or other assets.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Plan) have duly caused this
annual report to be signed by the undersigned thereunto duly authorized.
ANHEUSER-BUSCH GLOBAL EMPLOYEE
STOCK PURCHASE PLAN
By: /s/ J. TIMOTHY FARRELL
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J. Timothy Farrell
Committee Member
Dated: June 23, 2000
