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Previous: AMERICAN CAPITAL RESERVE FUND INC, DEFA14A, 1995-06-30 |
Next: AMERICAN INTERNATIONAL GROUP INC, S-3, 1995-06-30 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________
FORM 11-K/A
ANNUAL REPORT
PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
_________________________
(Mark One):
X ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
- --- 1934. For the fiscal year ended December 31, 1994.
OR
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
- --- OF 1934. For the transition period from _______________ to _______________
Commission file number: 0-1502
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
AMERICAN GREETINGS RETIREMENT PROFIT
SHARING AND SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office:
AMERICAN GREETINGS CORPORATION
ONE AMERICAN ROAD
CLEVELAND, OHIO 44144
_________________________
REQUIRED INFORMATION
The following financial statements are being furnished for the
American Greetings Retirement Profit Sharing and Savings Plan (the "Plan"):
1. Audited statements of net assets available for benefits as of
December 31, 1994 and 1993.
<PAGE> 2
2. Audited statements of changes in net assets available for
benefits for the years ended December 31, 1994 and 1993.
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN GREETINGS RETIREMENT
PROFIT SHARING AND SAVINGS PLAN
June 30, 1995 By: /s/ Harvey Levin
--------------------------------
Name: Harvey Levin
Title: Senior Vice-President
-2-
<PAGE> 3
American Greetings Retirement Profit Sharing and Savings Plan
Statements of Net Assets Available for Benefits
December 31, 1994 and 1993
<TABLE>
<CAPTION>
INDEX 500 MONEY MARKET
PORTFOLIO PRIMECAP WELLINGTON RESERVES PRIME
TOTAL FUND FUND FUND PORTFOLIO
-----------------------------------------------------------------------------------------------------------------
1994 1993 1994 1993 1994 1993 1994 1993 1994 1993
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments,
at fair value:
Money market funds
and repurchase
agreements $ 12,774,446
U.S. Government
and agency
securities 167,822,933
Corporate
obligations 7,421,786
Common stocks 57,921,551
Index 500
Portfolio Fund $40,255,607 $40,255,607
PrimeCap Fund 46,952,475 $46,952,475
Wellington Fund 13,979,573 $13,979,573
Money Market
Reserves Prime
Portfolio 25,626,952 $25,379,588
Bond Index Fund 128,290,532
Common Stock of
American Greetings
Corporation 42,646,797 37,850,704
Participant notes
receivable 229,236 68,166
Other 69,650
-----------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS 297,981,172 283,929,236 40,255,607 46,952,475 13,979,573 25,379,588
Deposits with
insurance companies 55,949,482 87,511,622
Receivables:
Employer's
contribution 22,970,809 22,037,880 3,224,718 3,931,380 1,007,149 1,483,789
Participants'
contributions 1,035,533 1,114,774 171,200 200,125 49,923 46,040
Accrued income 5,646 2,106,507 71
Due from broker
for securities sold 36,493,182
Other 7,201 956 1,338 178 408
-----------------------------------------------------------------------------------------------------------------
TOTAL RECEIVABLES 24,019,189 61,752,343 3,396,874 4,132,843 1,057,250 1,530,308
Cash 195,768
-----------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 377,949,843 433,388,969 43,652,481 51,085,318 15,036,823 26,909,896
LIABILITIES
Accrued expenses (583,340)
Due to broker for
securities
purchased (63,447,969)
-----------------------------------------------------------------------------------------------------------------
NET ASSETS AVAILABLE
FOR BENEFITS $377,949,843 $369,357,660 $43,652,481 $51,085,318 $15,036,823 $26,909,896
=================================================================================================================
<CAPTION>
BOND COMPANY FIXED
INDEX/IC STOCK PARTICIPANT COMMON INCOME
FUND FUND LOAN FUND FUND FUND
1994 1993 1994 1993 1994 1993 1994 1993 1994 1993
----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments,
at fair value:
Money market funds
and repurchase
agreements $ 1,032,223 $ 2,582,016 $ 9,160,207
U.S. Government
and agency
securities 167,822,933
Corporate
obligations 7,421,786
Common stocks 57,921,551
Index 500
Portfolio Fund
PrimeCap Fund
Wellington Fund
Money Market
Reserves Prime
Portfolio $ 247,364
Bond Index Fund $128,290,532
Common Stock of
American Greetings
Corporation 42,646,797 37,850,704
Participant notes
receivable $229,236 $68,166
Other 69,650
----------------------------------------------------------------------------------------------------------------
TOTAL INVESTMENTS 128,290,532 42,894,161 38,882,927 229,236 68,166 60,503,567 184,474,576
Deposits with
insurance companies 55,949,482 87,511,622
Receivables:
Employer's
contribution 9,826,757 3,497,016 2,879,620 4,728,220 14,430,040
Participants'
contributions 367,794 200,451 170,950 287,518 656,306
Accrued income 5,575 1,513 56,220 2,048,774
Due from broker
for securities sold 118,651 36,374,531
Other 3,450 871
----------------------------------------------------------------------------------------------------------------
TOTAL RECEIVABLES 10,203,576 3,698,338 3,052,083 5,190,609 53,509,651
Cash 195,768
----------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 194,443,590 46,592,499 41,935,010 229,236 68,166 65,889,944 325,495,849
LIABILITIES
Accrued expenses (377,740) (205,600)
Due to broker for
securities
purchased (63,447,969)
----------------------------------------------------------------------------------------------------------------
NET ASSETS
AVAILABLE FOR
BENEFITS $194,443,590 $46,592,499 $41,935,010 $229,236 $68,166 $65,512,204 $261,842,280
=================================================================================================================
</TABLE>
See notes to financial statements.
2
<PAGE> 4
American Greetings Retirement Profit Sharing and Savings Plan
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 1994 and 1993
<TABLE>
<CAPTION>
INDEX 500 MONEY MARKET
PORTFOLIO PRIMECAP WELLINGTON RESERVES PRIME
TOTAL FUND FUND FUND PORTFOLIO
-------------------------------------------------------------------------------------------------------------
1994 1993 1994 1993 1994 1993 1994 1993 1994 1993
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET
ASSETS ATTRIBUTED TO
Net realized
and unrealized
(depreciation)
appreciation of
investments--
Note C $(20,695,241) $ 17,027,611 $ 764,106 $ 2,564,675 $ (425,863)
Interest and dividend
income 16,216,606 16,903,606 757,037 1,056,245 250,808 $ 284,660
Dividends from
American Greetings
Corporation
common stock 761,552 388,927
Contributions:
Participants 14,640,336 10,825,314 1,285,153 1,385,914 207,995 190,913
Rollover 509,184 110,857 108,043 78,878 39,988
Employer 22,970,809 22,037,880 3,224,718 3,931,380 1,007,149 1,483,789
------------------------------------------------------------------------------------------------------------
Total additions 34,403,246 67,183,338 6,141,871 9,046,257 1,118,967 1,999,350
DEDUCTIONS
FROM NET ASSETS
ATTRIBUTED TO
Benefits paid
to participants 24,748,586 12,271,135 643,897 671,415 44,542 1,675,175
Administrative
expenses 1,062,477 1,359,761 4,705 5,049 539 701
------------------------------------------------------------------------------------------------------------
Total deductions 25,811,063 13,630,896 648,602 676,464 45,081 1,675,876
------------------------------------------------------------------------------------------------------------
Net (decrease)
increase prior to
interfund
transfers 8,592,183 53,552,442 5,493,269 8,369,793 1,073,886 323,474
Interfund
transfers--net 6,307,799 10,864,175 13,962,937 26,586,422
Net assets
transferred between
trusts 31,851,413 31,851,350
------------------------------------------------------------------------------------------------------------
Net increase
(decrease) 8,592,183 53,552,442 43,652,481 51,085,318 15,036,823 26,909,896
Net assets
available
for benefits at
beginning of year 369,357,660 315,805,218
------------------------------------------------------------------------------------------------------------
NET ASSETS
AVAILABLE FOR
BENEFITS $377,949,843 $369,357,660 $43,652,481 $51,085,318 $ 15,036,823 $26,909,896
============================================================================================================
<CAPTION>
BOND COMPANY FIXED
INDEX/IC STOCK PARTICIPANT COMMON INCOME
FUND FUND LOAN FUND FUND FUND
1994 1993 1994 1993 1994 1993 1994 1993 1994 1993
------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET
ASSETS ATTRIBUTED TO
Net realized
and unrealized
(depreciation)
appreciation of
investments--
Note C $ (4,039,357) $(6,813,454)$ 8,737,445 $(4,808,344) $ 5,429,489 $ (7,937,004) $ 2,860,677
Interest and
dividend income 8,319,620 34,380 15,732 $ 5,733 $ 4,405 460,311 682,144 5,047,812 16,201,325
Dividends from
American Greetings
Corporation
common stock 761,552 388,927
Contributions:
Participants 3,722,748 2,891,598 1,399,462 1,722,683 2,763,484 3,233,332 6,662,368
Rollover 97,763 73,655
Employer 9,826,757 3,497,016 2,879,620 4,728,220 14,430,040
----------------------------------------------------------------------------------------------------------------
Total additions 17,927,531 444,747 13,421,186 5,733 4,405 (2,625,350) 13,603,337 344,140 40,154,410
DEDUCTIONS
FROM NET ASSETS
ATTRIBUTED TO
Benefits paid
to participants 10,787,147 1,558,982 651,722 7,745 47,819 1,496,481 910,058 7,863,202 10,661,536
Administrative
expenses 27,397 19,321 16,219 500,300 410,345 504,465 933,197
----------------------------------------------------------------------------------------------------------------
Total deductions 10,814,544 1,578,303 667,941 7,745 47,819 1,996,781 1,320,403 8,367,667 11,594,733
----------------------------------------------------------------------------------------------------------------
Net (decrease)
increase prior to
interfund
transfers 7,112,987 (1,133,556) 12,753,245 (2,012)(43,414) (4,622,131) 12,282,934 (8,023,527) 28,559,677
Interfund
transfers--net (55,182,153) 5,791,045 12,746,755 163,082 2,812,690 (1,220,688) (11,305,997) (11,526,067)
Net assets
transferred
between trusts 242,512,756 (63,702,763) (242,512,756)
----------------------------------------------------------------------------------------------------------------
Net increase
(decrease) 194,443,590 4,657,489 25,500,000 161,070 (43,414)(65,512,204) 11,062,246 (261,842,280) 17,033,610
Net assets
available
for benefits at
beginning of year 41,935,010 16,435,010 68,166 111,580 65,512,204 54,449,958 261,842,280 244,808,670
----------------------------------------------------------------------------------------------------------------
NET ASSETS
AVAILABLE FOR
BENEFITS $194,443,590 $46,592,499 $41,935,010 $229,236 $68,166 $65,512,204 $261,842,280
================================================================================================================
</TABLE>
See notes to financial statements.
3
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