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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-K/A
(MARK ONE)
/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
FOR THE FISCAL YEAR ENDED AUGUST 31, 1994
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES ACT OF 1934 (NO FEE REQUIRED)
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER
1-10511
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AMERICAN MEDICAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
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<S> <C>
DELAWARE 13-3527632
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
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COMMISSION FILE NUMBER
1-7612
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AMERICAN MEDICAL INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
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<S> <C>
DELAWARE 95-2111054
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
14001 N. DALLAS PARKWAY, DALLAS, TEXAS 75240
(Address of principal executive offices) (Zip Code)
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(Registrants' telephone number, including area code)
(214) 789-2200
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The undersigned registrants hereby amend Item 8. Financial Statements and
Supplementary Data and Item 14. Exhibits, Financial Statement Schedules and
Reports on Form 8-K of their Annual Reports for the fiscal year ended August 31,
1994 on Form 10-K as set forth in the page attached hereto. The sole purpose of
this amendment is to correct the amount of the accumulated benefit obligation
reported on page F-14 of the registrants' Annual Reports for the fiscal year
ended August 31, 1994 on Form 10-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
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<S> <C>
AMERICAN MEDICAL INTERNATIONAL, INC.
AMERICAN MEDICAL HOLDINGS, INC.
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(Registrants)
By /s/ BARY G. BAILEY
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Bary G. Bailey
Vice President and Controller
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AMERICAN MEDICAL HOLDINGS, INC. AND SUBSIDIARIES
AMERICAN MEDICAL INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
6. BENEFIT PLANS (CONTINUED)
In accordance with SFAS No. 87 Holdings and AMI have recorded an adjustment
to recognize a minimum pension liability. The following table sets forth the
funded status of the Plans and amounts recognized in the consolidated financial
statements as of August 31, 1994 and 1993 (in thousands):
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<CAPTION>
1994 1993
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<S> <C> <C>
Actuarial present value of accumulated benefit obligation:
Vested.............................................................................. $ 182,600 $ 147,600
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Accumulated......................................................................... $ 191,000 $ 155,100
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Projected benefit obligation.......................................................... $ 209,600 $ 170,500
Plan assets at fair value, primarily listed stock and corporate bonds................. (204,600) (133,000)
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Projected benefit obligation in excess of plan assets................................. 5,000 37,500
Unrecognized net loss................................................................. (24,700) (25,900)
Adjustment for minimum pension liability.............................................. 6,500 10,500
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Pension liability..................................................................... $ (13,200) $ 22,100
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Holdings' and AMI's net pension cost for the years ended August 31, 1994,
1993 and 1992 includes the following components (in thousands):
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<CAPTION>
1994 1993 1992
---------- ---------- ----------
<S> <C> <C> <C>
Service cost -- benefits earned during the period........................... $ 8,300 $ 6,800 $ 7,600
Interest cost on projected benefit obligation............................... 14,200 12,200 10,000
Actual return on plan assets................................................ (14,400) (18,500) (4,500)
Net amortization and deferral............................................... 1,100 7,000 (7,100)
---------- ---------- ----------
Net periodic pension cost................................................... $ 9,200 $ 7,500 $ 6,000
---------- ---------- ----------
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In addition, Holdings and AMI have a unfunded supplemental defined benefit
retirement plan for Company executives ("SERP"). The following table sets forth
the amounts recognized for the unfunded SERP in the consolidated financial
statements as of August 31, 1994 and 1993 (in thousands):
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<CAPTION>
1994 1993
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<S> <C> <C>
Actuarial present value of accumulated benefit obligation:
Vested................................................................................... $ 43,500 $ 43,000
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Accumulated.............................................................................. $ 45,100 $ 43,900
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Projected benefit obligation (unfunded).................................................... $ 52,200 $ 49,700
Unrecognized net gain (loss)............................................................... 700 (900)
Unrecognized transition costs.............................................................. (200) (300)
Unrecognized prior service costs........................................................... 200 200
Adjustment for minimum pension liability................................................... 3,100 2,900
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SERP liability............................................................................. $ 56,000 $ 51,600
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F-14
