<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A - AMENDMENT NO. 1
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): MARCH 7, 1995
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FIRST BANK SYSTEM, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-6880 41-0255900
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(State or other jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
601 SECOND AVENUE SOUTH, MINNEAPOLIS, MINNESOTA 55402
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 612-973-1111
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
<PAGE>
The purpose of this amendment is to file Exhibit 11 - Computation of Primary and
Fully Diluted Net Income Per Common Share, Exhibit 12 - Computation of Ratio of
Earnings to Fixed Charges and Exhibit 27 - Financial Data Schedule as separate
exhibits to the 8-K. Exhibit 27 was submitted with technical error on the
original 8-K filed on March 3, 1995.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits (all filed herewith)
Exhibit 11 - Computation of Primary and Fully Diluted Net Income
Per Common Share
Exhibit 12 - Computation of Ratio of Earnings to Fixed Charges
Exhibit 27 - Financial Data Schedule
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
FIRST BANK SYSTEM, INC.
By /s/ David J. Parrin
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David J. Parrin
Senior Vice President & Controller
DATE: March 7, 1995
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-2-
<PAGE>
EXHIBIT 11
Computation of Primary and Fully Diluted Net Income Per Common Share
<TABLE>
<CAPTION>
Year Ended December 31
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(Dollars in millions, except per share data) 1994 1993 1992
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<S> <C> <C> <C>
PRIMARY:
Average shares outstanding 133,752,000 132,757,389 121,915,389
Net effect of the assumed purchase of stock under the stock option
and stock purchase plans--based on the treasury stock method using
average market price 2,522,991 1,831,275 2,755,268
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136,274,991 134,588,664 124,670,657
===============================================
Income from continuing operations before cumulative effect of
accounting changes $313.5 $360.7 $213.0
Preferred dividends (12.6) (29.2) (31.6)
-----------------------------------------------
Income from continuing operations before cumulative effect
of accounting changes applicable to common equity $300.9 $331.5 $181.4
===============================================
Income from continuing operations before cumulative effect of
accounting changes per common share $2.21 $2.46 $1.46
===============================================
Income (loss) from discontinued operations ($8.5) $2.5 $2.7
===============================================
Income (loss) from discontinued operations per common share ($0.06) $0.02 $0.02
===============================================
Cumulative effect of accounting changes applicable to common equity -- -- $233.2
===============================================
Cumulative effect of accounting changes per common share -- -- $1.87
===============================================
Net income $305.0 $363.2 $448.9
Preferred dividends (12.6) (29.2) (31.6)
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Net income applicable to common equity $292.4 $334.0 $417.3
===============================================
Net income per common share $2.15 $2.48 $3.35
===============================================
FULLY DILUTED: *
Average shares outstanding 133,752,000 132,757,389 121,915,389
Net effect of the assumed purchase of stock under the stock
option and stock purchase plans--based on the treasury stock
method using average market price or year-end market price,
whichever is higher 2,720,882 1,888,873 4,630,259
Assumed conversion of Series 1991A Preferred Stock 3,655,684 3,681,740 3,951,624
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140,128,566 138,328,002 130,497,272
===============================================
Income from continuing operations before cumulative effect
of accounting changes $313.5 $360.7 $213.0
Preferred dividends, excluding 1991A Preferred Stock (5.1) (21.2) (23.4)
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Income from continuing operations before cumulative effect of
accounting changes applicable to common equity $308.4 $339.5 $189.6
===============================================
Income from continuing operations before cumulative effect
of accounting changes per common share $2.20 $2.45 $1.45
===============================================
Income (loss) from discontinued operations ($8.5) $2.5 $2.7
===============================================
Income (loss) from discontinued operations per common share ($0.06) $0.02 $0.02
===============================================
Cumulative effect of accounting changes applicable to common equity -- -- $233.2
===============================================
Cumulative effect of accounting changes per common share -- -- $1.79
===============================================
Net income $305.0 $363.2 $448.9
Preferred dividends, excluding 1991A Preferred Stock (5.1) (21.2) (23.4)
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Net income applicable to common equity $299.9 $342.0 $425.5
===============================================
Net income per common share $2.14 $2.47 $3.26
===============================================
</TABLE>
* This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by footnote 2 to paragraph 17 of APB Opinion
No. 15 because it results in dilution of less than 3%.
<PAGE>
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
<TABLE>
<CAPTION>
Year Year Year Year Year
Ended Ended Ended Ended Ended
December 31 December 31 December 31 December 31 December 31
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(Dollars in Thousands) 1994 1993 1992 1991 1990
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<S> <C> <C> <C> <C> <C>
EARNINGS
1. Net income from continuing operations before
cumulative effect $ 313,500 $ 360,700 $ 213,000 $ 263,400 $ 84,000
2. Applicable income taxes 191,800 198,600 115,700 30,300 6,500
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3. Income before taxes (1 + 2) $ 505,300 $ 559,300 $ 328,700 $ 293,700 $ 90,500
============================================================================
4. Fixed charges:
a. Interest expense excluding interest
on deposits $ 271,400 $ 148,000 $ 155,400 $ 228,300 $ 438,900
b. Portion of rents representative of
interest and amortization of debt expense 30,200 34,800 36,700 34,400 36,800
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c. Fixed charges excluding interest on
deposits (4a + 4b) 301,600 182,800 192,100 262,700 475,700
d. Interest on deposits 597,300 648,300 797,700 1,125,900 1,405,400
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e. Fixed charges including interest on
deposits (4c + 4d) $ 898,900 $ 831,100 $ 989,800 $1,388,600 $1,881,100
============================================================================
5. Amortization of interest capitalized $ 4,800 $ 4,900 $ 300 $ 300 $ 300
6. Earnings excluding interest on
deposits (3 + 4c + 5) 811,700 747,000 521,100 556,700 566,500
7. Earnings including interest
on deposits (3 + 4e + 5) 1,409,000 1,395,300 1,318,800 1,682,600 1,971,900
8. Fixed charges excluding interest on
deposits (4c) 301,600 182,800 192,100 262,700 475,700
9. Fixed charges including interest
on deposits (4e) 898,900 831,100 989,800 1,388,600 1,881,100
RATIO OF EARNINGS TO FIXED CHARGES
10. Excluding interest on deposits (line 6/line 8) 2.69 4.09 2.71 2.12 1.19
11. Including interest on deposits (line 7/line 9) 1.57 1.68 1.33 1.21 1.05
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 9
<LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FIRST BANK SYSTEM, INC. DECEMBER 31, 1994, RESTATED ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> DEC-31-1994
<CASH> 1,707,000
<INT-BEARING-DEPOSITS> 28,000
<FED-FUNDS-SOLD> 471,000
<TRADING-ASSETS> 77,000
<INVESTMENTS-HELD-FOR-SALE> 5,185,000
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 24,550,000
<ALLOWANCE> 475,000
<TOTAL-ASSETS> 34,128,000
<DEPOSITS> 24,256,000
<SHORT-TERM> 3,523,000
<LIABILITIES-OTHER> 1,053,000
<LONG-TERM> 2,684,000
<COMMON> 168,000
0
118,000
<OTHER-SE> 2,326,000
<TOTAL-LIABILITIES-AND-EQUITY> 34,128,000
<INTEREST-LOAN> 1,914,700
<INTEREST-INVEST> 339,900
<INTEREST-OTHER> 33,500
<INTEREST-TOTAL> 2,288,100
<INTEREST-DEPOSIT> 597,300
<INTEREST-EXPENSE> 868,700
<INTEREST-INCOME-NET> 1,419,400
<LOAN-LOSSES> 123,600
<SECURITIES-GAINS> (115,000)
<EXPENSE-OTHER> 1,349,400
<INCOME-PRETAX> 505,300
<INCOME-PRE-EXTRAORDINARY> 313,500
<EXTRAORDINARY> (8,500)
<CHANGES> 0
<NET-INCOME> 305,000
<EPS-PRIMARY> 2.15
<EPS-DILUTED> 2.14
<YIELD-ACTUAL> 4.74
<LOANS-NON> 162,000
<LOANS-PAST> 26,000
<LOANS-TROUBLED> 100
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 466,100
<CHARGE-OFFS> 226,800
<RECOVERIES> 86,500
<ALLOWANCE-CLOSE> 474,700
<ALLOWANCE-DOMESTIC> 0
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 277,700
</TABLE>
