<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 1994
------------------------------
Merrill Lynch & Co., Inc.
- - -------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
<TABLE>
<CAPTION>
Delaware 1-7182 13-2740599
- - --------------------------------------------------------------------------------
<S> <C> <C>
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
</TABLE>
World Financial Center, North Tower, New York, New York 10281-1332
- - --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 449-1000
----------------------------
- - --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report.)
<PAGE>
Item 5. Other Events
- - ---------------------
Filed herewith is the Preliminary Unaudited Consolidated Balance Sheet as of
April 1, 1994 for Merrill Lynch & Co., Inc. and subsidiaries ("ML & Co.") which
will be superseded by ML & Co.'s Report on Form 10-Q for the quarter ended April
1, 1994. Also included is a statement re: the computation of ratio of earnings
to fixed charges derived from preliminary unaudited consolidated information
filed with the Securities and Exchange Commission on April 18, 1994 which will
also be superseded by ML & Co.'s Report on Form 10-Q for the quarter ended April
1, 1994.
In addition, on January 1, 1994, ML & Co. adopted Financial Accounting Standards
Board Interpretation No. 39 ("Interpretation No. 39"), Offsetting of Amounts
Related to Certain Contracts. Interpretation No. 39 affects the financial
statement presentation of balances related to swap, forward and other similar
exchange or conditional type contracts, and unconditional type contracts. The
adoption of Interpretation No. 39 increased assets and liabilities at April 1,
1994 by approximately $14.0 billion.
During the three month period ended April 1, 1994, ML & Co. repurchased in the
open market 7.0 million shares of its common stock.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
- - ----------------------------------------------------------------------------
(c) Exhibits
---------
(12) Statement re: computation of ratios
(99) Additional Exhibits
(i) Preliminary Unaudited Consolidated Balance Sheet
-2-
<PAGE>
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, hereunto duly authorized.
MERRILL LYNCH & CO., INC.
---------------------------
(Registrant)
By: /s/ Joseph T. Willett
---------------------------------
Joseph T. Willett
Senior Vice President,
Chief Financial Officer
Date: May 6, 1994
-3-
<PAGE>
EXHIBIT INDEX
-------------
<TABLE>
<CAPTION>
Exhibit No. Description Page
- - ------------- ------------------------------------------------ ----
<S> <C> <C>
(12) Statement re: computation of ratios 5
(99) Additional Exhibits
(i) Preliminary Unaudited Consolidated Balance Sheet 6
</TABLE>
-4-
<PAGE>
EXHIBIT 12
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
------------------------------------------
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
-------------------------------------------------
(Dollars In Thousands)
<TABLE>
<CAPTION>
For the Three Months
Ended
--------------------------
April 1, March 26,
1994 1993
---------- ----------
<S> <C> <C>
Pretax earnings from continuing operations.... $ 652,208 $ 590,321
Deduct equity in undistributed net earnings
of unconsolidated subsidiaries.............. (3,048) (1,098)
---------- ----------
Total pretax earnings from continuing
operations.................................. 649,160 589,223
---------- ----------
Add: Fixed Charges (A)
Interest.............................. 1,899,427 1,343,347
Amortization of debt expense.......... 797 1,146
---------- ----------
Total interest.......................... 1,900,224 1,344,493
Interest factor in rents................ 33,564 36,933
---------- ----------
Total fixed charges........................... 1,933,788 1,381,426
---------- ----------
Pretax earnings before fixed charges.......... $2,582,948 $1,970,649
========== ==========
Ratio of earnings to fixed charges............ 1.34 1.43
========== ==========
</TABLE>
(A) There was no capitalized interest for the 1994 and 1993 first quarters.
<PAGE>
EXHIBIT 99(i)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
(Dollars In Thousands, Except Per Share Amounts) APRIL 1,
ASSETS 1994
- - ------------------------------------------------------ ------------
<S> <C>
CASH AND CASH EQUIVALENTS............................. $ 1,150,135
------------
CASH AND SECURITIES SEGREGATED FOR REGULATORY
PURPOSES OR DEPOSITED WITH CLEARING ORGANIZATIONS... 4,028,823
------------
MARKETABLE INVESTMENT SECURITIES...................... 1,743,939
------------
TRADING INVENTORIES, AT FAIR VALUE
Corporate debt, contractual agreements,
and preferred stock................................. 27,394,625
Non-U.S. governments and agencies..................... 8,831,084
U.S. Government and agencies.......................... 8,752,521
Equities and convertible debentures................... 8,097,207
Mortgages and mortgage-backed......................... 6,318,485
Money markets......................................... 2,362,471
Municipals............................................ 1,150,676
------------
Total................................................. 62,907,069
------------
RESALE AGREEMENTS..................................... 49,144,330
------------
SECURITIES BORROWED................................... 21,186,156
------------
RECEIVABLES
Customers (net of allowance for doubtful accounts of
$51,280)............................................. 14,498,266
Brokers and dealers................................... 9,477,169
Interest and other.................................... 3,086,611
------------
Total................................................. 27,062,046
------------
INVESTMENTS OF INSURANCE SUBSIDIARIES................. 7,105,889
LOANS, NOTES, AND MORTGAGES (NET OF ALLOWANCE FOR
LOAN LOSSES OF $190,741)............................. 1,811,146
OTHER INVESTMENTS..................................... 806,803
PROPERTY, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT
(NET OF ACCUMULATED DEPRECIATION AND AMORTIZATION
OF $1,694,582)....................................... 1,521,485
OTHER ASSETS.......................................... 1,215,975
------------
TOTAL ASSETS.......................................... $179,683,796
============
</TABLE>
<PAGE>
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
(Dollars In Thousands, Except Per Share Amounts) APRIL 1,
LIABILITIES AND STOCKHOLDERS' EQUITY 1994
- - ---------------------------------------------------------------- ------------
<S> <C>
LIABILITIES
REPURCHASE AGREEMENTS........................................... $ 66,156,594
------------
COMMERCIAL PAPER AND OTHER SHORT-TERM BORROWINGS................ 23,299,088
------------
COMMITMENTS FOR SECURITIES SOLD BUT NOT YET PURCHASED, AT
FAIR VALUE
U.S. Government and agencies.................................... 13,979,878
Equities and convertible debentures............................. 3,972,621
Corporate debt, contractual agreements,
and preferred stock........................................... 13,821,556
Non-U.S. governments and agencies............................... 2,545,363
Municipals...................................................... 136,972
------------
Total........................................................... 34,456,390
------------
CUSTOMERS....................................................... 13,462,387
INSURANCE....................................................... 6,797,586
BROKERS AND DEALERS............................................. 8,200,912
OTHER LIABILITIES AND ACCRUED INTEREST.......................... 6,854,878
LONG-TERM BORROWINGS............................................ 14,852,894
------------
TOTAL LIABILITIES............................................... 174,080,729
------------
STOCKHOLDERS' EQUITY
PREFERRED STOCKHOLDERS' EQUITY
Preferred stock, par value $1.00 per share
(Liquidation preference $100,000 per share);
authorized: 25,000,000 shares;
issued: 3,000 shares; outstanding: 1,938 shares............ 193,800
------------
COMMON STOCKHOLDERS' EQUITY
Common stock, par value $1.33 1/3 per share;
authorized: 500,000,000 shares;
issued: 236,330,162 shares.................................. 315,105
Paid-in capital................................................. 1,214,934
Foreign currency translation adjustment......................... (12,296)
Net unrealized losses on investment securities
available-for-sale (net of applicable income tax benefit
of $6,194)................................................... (12,254)
Retained earnings............................................... 5,106,190
------------
Subtotal................................................... 6,611,679
Less:
Treasury stock, at cost:
27,694,702 shares.......................................... 868,184
Unallocated ESOP shares, at cost:
7,742,069 shares........................................... 121,938
Employee stock transactions.................................. 212,290
------------
TOTAL COMMON STOCKHOLDERS' EQUITY............................... 5,409,267
------------
TOTAL STOCKHOLDERS' EQUITY...................................... 5,603,067
------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY...................... $179,683,796
============
</TABLE>
