<PAGE> 1
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: February 10, 1997
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HOUSEHOLD INTERNATIONAL, INC.
-----------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-8198 36-3121988
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
2700 Sanders Road, Prospect Heights, Illinois 60070
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 847/564-5000
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Item 5. Other Events
Set forth in the Exhibit hereto is selected consolidated
financial information which presents the financial
position and results of operations for Household
International, Inc. (the "Company") as of and for the
years ended December 31, 1996 and 1995.
Item 7. Financial Statements and Exhibits
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
No. Exhibit
--- --------
27 Financial Data Schedule.
99 Selected consolidated financial statements with
respect to the operations of Household
International, Inc. as of and for the years ended
December 31, 1996 and 1995.
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SIGNATURE
Pursuant to the requirement of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
HOUSEHOLD INTERNATIONAL, INC.
--------------------------------
(Registrant)
By: /s/ David A. Schoenholz
--------------------------------
David A. Schoenholz
Executive Vice President -
Chief Financial Officer,
(a Principal Financial Officer),
and on behalf of
Household International, Inc.
Dated: February 10, 1997
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EXHIBIT INDEX
Exhibit No. Exhibit
- ----------- --------
27 Financial Data Schedule.
99 Selected consolidated financial statements with
respect to the operations of Household International,
Inc. as of and for the years ended December 31, 1996
and 1995.
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE FOLLOWING SUMMARY FINANCIAL INFORMATION OF THE COMPANY AND ITS
SUBSIDIARIES IS QUALIFIED IN ITS ENTIRETY BY THE DETAILED INFORMATION
AND FINANCIAL STATEMENTS PREVIOUSLY FILED WITH THE SECURITIES &
EXCHANGE COMMISSION.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 239,200
<SECURITIES> 2,282,000
<RECEIVABLES> 24,067,000
<ALLOWANCES> (1,596,200)
<INVENTORY> 0
<CURRENT-ASSETS> 0<F1>
<PP&E> 785,700
<DEPRECIATION> 432,600
<TOTAL-ASSETS> 29,594,500
<CURRENT-LIABILITIES> 0<F1>
<BONDS> 14,802,000
<COMMON> 115,200
0
205,000
<OTHER-SE> 3,001,000
<TOTAL-LIABILITY-AND-EQUITY> 29,594,500
<SALES> 0
<TOTAL-REVENUES> 5,058,800
<CGS> 0
<TOTAL-COSTS> 1,956,300
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 759,600
<INTEREST-EXPENSE> 1,520,600
<INCOME-PRETAX> 822,300
<INCOME-TAX> 283,700
<INCOME-CONTINUING> 538,600
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 538,600
<EPS-PRIMARY> 5.31
<EPS-DILUTED> 5.30
<FN>
<F1>FINANCIAL STATEMENTS OF THE COMPANY WERE PREPARED IN ACCORDANCE WITH
FINANCIAL INSTITUTION INDUSTRY STANDARDS. ACCORDINGLY, THE COMPANY'S
BALANCE SHEETS WERE NON-CLASSIFIED.
</FN>
</TABLE>
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Consolidated Statements of Income Exhibit 99
<TABLE>
<CAPTION>
Household International, Inc. and Subsidiaries
In millions, except per share data.
Year ended December 31 1996 1995
- ----------------------------------------------- -------- --------
<S> <C> <C>
Finance income $2,949.9 $2,878.8
Interest income from noninsurance
investment securities 80.6 123.4
Interest expense 1,520.6 1,557.1
-------- --------
Net interest margin 1,509.9 1,445.1
Provision for credit losses on owned
receivables 759.6 761.3
-------- --------
Net interest margin after provision for
credit losses 750.3 683.8
-------- --------
Securitization income 1,149.0 873.6
Insurance revenues 253.4 322.1
Investment income 153.2 470.2
Fee income 240.3 196.4
Other income 232.4 279.9
-------- --------
Total other revenues 2,028.3 2,142.2
-------- --------
Salaries and fringe benefits 534.5 545.6
Occupancy and equipment expense 209.8 222.1
Other marketing expenses 498.1 359.5
Other servicing and administrative expenses 484.8 470.6
Policyholders' benefits 229.1 474.5
-------- --------
Total costs and expenses 1,956.3 2,072.3
-------- --------
Income before income taxes 822.3 753.7
Income taxes 283.7 300.5
-------- --------
Net income $ 538.6 $ 453.2
======== ========
Earnings Per Common Share:
Net income $ 538.6 $ 453.2
Preferred dividends (16.7) (26.4)
-------- --------
Net income available to common shareholders $ 521.9 $ 426.8
======== ========
Average common and common equivalent shares 98.5 99.3
-------- --------
Net income per common share $ 5.30 $ 4.30
-------- --------
/TABLE
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Consolidated Balance Sheets
<TABLE>
<CAPTION>
Household International, Inc. and Subsidiaries
In millions.
At December 31 1996 1995
- ---------------------------------------------- --------- ---------
<S> <C> <C>
Assets
Cash $ 239.2 $ 270.4
Investment securities 2,282.0 4,639.5
Receivables, net 24,244.8 21,844.1
Acquired intangibles, net 969.4 578.5
Properties and equipment, net 353.1 391.7
Real estate owned 136.6 136.5
Other assets 1,369.4 1,358.1
--------- ---------
Total assets $29,594.5 $29,218.8
========= =========
Liabilities and Shareholders' Equity
Debt:
Deposits $ 2,365.1 $ 4,708.8
Commercial paper, bank and
other borrowings 6,428.1 6,659.4
Senior and senior subordinated debt
(with original maturities over one year) 14,802.0 11,227.9
--------- ---------
Total debt 23,595.2 22,596.1
Insurance policy and claim reserves 1,205.3 2,229.3
Other liabilities 1,472.8 1,422.5
--------- ---------
Total liabilities 26,273.3 26,247.9
Company obligated mandatorily redeemable
preferred securities of subsidiary trusts* 175.0 75.0
Preferred stock 205.0 205.0
Common shareholders' equity:
Common stock, $1.00 par value, 150,000,000
shares authorized, 115,231,175 shares
issued at December 31, 1996 and 1995 115.2 115.2
Additional paid-in capital 397.3 383.4
Retained earnings 3,076.8 2,696.6
Foreign currency translation adjustments (126.7) (127.1)
Unrealized gain (loss) on investments, net (12.9) 94.3
Less common stock in treasury, 18,165,921
and 18,069,646 shares at December 31,
1996 and 1995, respectively, at cost (508.5) (471.5)
--------- ---------
Total common shareholders' equity 2,941.2 2,690.9
--------- ---------
Total liabilities and shareholders' equity $29,594.5 $29,218.8
========= =========
* The sole asset of the two trusts are Junior Subordinated Deferrable
Interest Notes issued by Household International, Inc. in June 1996 and
June 1995, bearing interest at 8.70 and 8.25 percent, respectively, and
with principal balances of $103.1 and $77.3 million, respectively.
</TABLE>
