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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 April 30, 1994
OR
[ ] 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: 1-1511
FEDERAL-MOGUL CORPORATION
SALARIED EMPLOYEES' INVESTMENT PROGRAM
26555 Northwestern Highway
Southfield, Michigan 48034
The Plan holds shares of common stock (without par value)
of Federal-Mogul Corporation (see address above).
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ERNST & YOUNG
500 Woodward Avenue, Suite 1700
Detroit, Michigan 48226-3426
(313) 596-7100
REPORT OF INDEPENDENT AUDITORS
Administrative Committee
Federal-Mogul Corporation Salaried
Employees' Investment Program
We have audited the accompanying statements of net assets
available for plan benefits of the Federal-Mogul Corporation
Salaried Employees' Investment Program as of April 30, 1994
and 1993, and related statements of changes in net assets
available for plan benefits for the years ended April 30,
1994, 1993, and 1992. 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 our 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 for the years ended April 30,
1994, 1993, and 1992, in conformity with generally accepted
accounting principles.
Our audits were made for the purpose of forming an opinion on
the financial statements taken as a whole. The accompanying
supplemental schedule of assets held for investment and
reportable transactions as of and for the year ended April 30,
1994, are presented for purposes of complying with the
Department of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act
of 1974, and are not a required part of the financial
statements. The supplemental schedules have been subjected to
the auditing procedures applied in our audit of the 1994
financial statements and, in our opinion, are fairly stated in
all material respects in relation to the 1994 financial
statements taken as a whole.
ERNST & YOUNG LLP
(Ernst & Young LLP)
September 20, 1994
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Federal-Mogul Corporation Salaried Employees'
Investment Program has duly caused this annual report to be
signed on its behalf by the undersigned hereunto duly
authorized.
FEDERAL-MOGUL CORPORATION
SALARIED EMPLOYEES' INVESTMENT PROGRAM
By: /s/ J. M. Eastman
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J. M. Eastman
Chairman of the Committee
designated to administer the Plan
Dated: October 24, 1994
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EXHIBIT INDEX
Exhibit Number Document
23 Consent of Ernst & Young LLP
(filed herewith and
incorporated herein by
reference).
29 Audited Financial Statements for the
Federal-Mogul Corporation Salaried
Employees' Investment Program, comprised
of (filed on the Form SE dated October
21, 1994, and incorporated herein by
reference):
(a) Statements of net assets available
for Plan benefits as of April 30,
1994 and 1993;
(b) Statements of changes in net assets
available for Plan benefits for the
years ended April 30, 1994, 1993 and
1992;
(c) Notes to financial statements;
(d) Schedule of Assets held for
investment as of April 30, 1994 and
for the year then ended;
(e) Schedule of Reportable Transactions
for the year ended April 30, 1994.
CONSENT OF ERNST & YOUNG INDEPENDENT AUDITORS
We consent to the incorporation by reference in Registration
Statement (Form S-8 No. 33-24916) pertaining to the Salaried
Employees' Investment Program of Federal-Mogul Corporation of
our report dated September 20, 1994 with respect to the
financial statements and schedules of the Federal-Mogul
Corporation Salaried Employees' Investment Program included in
this Annual Report (Form 11-K) for the year ended April 30,
1994.
ERNST & YOUNG LLP
(Ernst & Young LLP)
October 20, 1994
