<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): November 2, 1995
---------------------------
Merrill Lynch & Co., Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-7182 13-2740599
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
World Financial Center, North Tower, New York, New York 10281-1332
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 449-1000
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(Former Name or Former Address, if Changed Since Last Report.)
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Item 5. Other Events
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Filed herewith are (i) the Preliminary Unaudited Consolidated Balance Sheet as
of September 29, 1995 for Merrill Lynch & Co., Inc. and subsidiaries ("ML&Co.")
and (ii) a statement setting forth the computation of ratios of earnings to
fixed charges and combined fixed charges and preferred stock dividends derived
from the preliminary unaudited consolidated information filed with the
Securities and Exchange Commission on October 17, 1995.
During the three-month period ended September 29, 1995, ML&Co. repurchased in
the open market 1.7 million shares of its common stock.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits.
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(12) Statement re: computation of ratios
(99) Additional exhibits
(i) Preliminary Unaudited Consolidated Balance Sheet of ML&Co.
as of September 29, 1995
2
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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.
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(Registrant)
By: /s/ Michael J. Castellano
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Michael J. Castellano
Senior Vice President,
Controller
Date: November 1, 1995
3
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EXHIBIT INDEX
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Exhibit No. Description Page
- ----------- ----------- ----
(12) Statement re: computation of ratios 5
(99) Additional exhibits
(i) Preliminary Unaudited Consolidated 6
Balance Sheet of ML&Co. as of
September 29, 1995
4
<PAGE>
EXHIBIT 12
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars In Thousands)
<TABLE>
<CAPTION>
For the Three Months For the Nine Months
Ended Ended
---------------------- ----------------------
Sept. 29, Sept. 30, Sept. 29, Sept. 30,
1995 1994 1995 1994
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Pretax earnings from continuing operations... $ 485,477 $ 389,522 $1,328,569 $1,474,392
Deduct equity in undistributed net earnings
of unconsolidated subsidiaries............. - (3,218) - (15,666)
---------- ---------- ---------- ----------
Total pretax earnings from continuing
operations................................. 485,477 386,304 1,328,569 1,458,726
---------- ---------- ---------- ----------
Add:
Fixed charges
Interest (A).............................. 2,746,297 2,223,203 8,559,298 6,198,030
Other (B)................................. 36,334 33,300 105,302 104,043
---------- ---------- ---------- ----------
Total fixed charges........................ 2,782,631 2,256,503 8,664,600 6,302,073
---------- ---------- ---------- ----------
Preferred stock dividend requirements...... 19,016 2,887 58,402 7,921
---------- ---------- ---------- ----------
Total combined fixed charges and
preferred stock dividends................. 2,801,647 2,259,390 8,723,002 6,309,994
---------- ---------- ---------- ----------
Pretax earnings before fixed charges......... $3,268,108 $2,642,807 $ 9,993,169 $7,760,799
========== ========== ========== ==========
Pretax earnings before combined fixed
charges and preferred stock dividends...... $3,287,124 $2,645,694 $10,051,571 $7,768,720
========== ========== ========== ==========
Ratio of earnings to fixed charges........... 1.17 1.17 1.15 1.23
========== ========== ========== ==========
Ratio of earnings to combined fixed charges
and preferred stock dividends.............. 1.17 1.17 1.15 1.23
========== ========== ========== ==========
</TABLE>
(A) There was no capitalized interest for the 1995 and 1994 periods.
(B) Other fixed charges consist of the interest factor in rentals, amortization
of debt expense, and preferred stock dividend requirements of majority-owned
subsidiaries.
5
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EXHIBIT 99(i)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
(Dollars in Thousands, Except Per Share Amounts) SEPT. 29,
ASSETS 1995
- --------------------------------------------------------- ------------
<S> <C>
CASH AND CASH EQUIVALENTS............................... $ 2,932,966
------------
CASH AND SECURITIES SEGREGATED FOR REGULATORY PURPOSES
OR DEPOSITED WITH CLEARING ORGANIZATIONS............... 5,360,550
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MARKETABLE INVESTMENT SECURITIES........................ 2,321,681
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TRADING ASSETS, AT FAIR VALUE
Corporate debt and preferred stock...................... 18,254,829
Contractual agreements.................................. 11,463,086
U.S. Government and agencies............................ 8,992,533
Non-U.S. governments and agencies....................... 8,946,106
Equities and convertible debentures..................... 9,875,225
Mortgages and mortgage-backed........................... 2,923,718
Municipals.............................................. 996,174
Money markets........................................... 1,551,538
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Total................................................... 63,003,209
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RESALE AGREEMENTS....................................... 45,501,860
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SECURITIES BORROWED..................................... 23,619,471
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RECEIVABLES
Customers (net of allowance for doubtful accounts of
$47,754)............................................... 14,941,065
Brokers and dealers..................................... 10,999,592
Interest and other...................................... 4,005,927
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Total................................................... 29,946,584
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INVESTMENTS OF INSURANCE SUBSIDIARIES................... 5,709,734
LOANS, NOTES, AND MORTGAGES (NET OF ALLOWANCE FOR
LOAN LOSSES OF $181,806)............................... 2,672,601
OTHER INVESTMENTS....................................... 949,015
PROPERTY, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT
(NET OF ACCUMULATED DEPRECIATION AND AMORTIZATION
OF $2,167,374)......................................... 1,608,225
OTHER ASSETS............................................ 1,846,791
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TOTAL ASSETS............................................ $185,472,687
============
</TABLE>
6
<PAGE>
EXHIBIT 99(i)
(continued)
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
PRELIMINARY UNAUDITED CONSOLIDATED BALANCE SHEET
<TABLE>
<CAPTION>
(Dollars in Thousands, Except Per Share Amounts) SEPT. 29,
LIABILITIES AND STOCKHOLDERS' EQUITY 1995
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<S> <C>
LIABILITIES
REPURCHASE AGREEMENTS............................... $ 54,274,118
------------
COMMERCIAL PAPER AND OTHER SHORT-TERM BORROWINGS.... 31,762,286
------------
TRADING LIABILITIES, AT FAIR VALUE
U.S. Government and agencies........................ 10,169,694
Contractual agreements.............................. 11,550,244
Non-U.S. governments and agencies................... 7,507,530
Equities and convertible debentures................. 6,197,449
Corporate debt and preferred stock.................. 1,772,335
Municipals.......................................... 100,523
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Total............................................... 37,297,775
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CUSTOMERS........................................... 10,527,590
INSURANCE........................................... 5,443,687
BROKERS AND DEALERS................................. 14,973,504
OTHER LIABILITIES AND ACCRUED INTEREST.............. 8,959,967
LONG-TERM BORROWINGS................................ 16,156,414
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TOTAL LIABILITIES................................... 179,395,341
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STOCKHOLDERS' EQUITY
PREFERRED STOCKHOLDERS' EQUITY...................... 618,800
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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..................................... 1,216,025
Foreign currency translation adjustment............. (29,596)
Net unrealized gains on investment securities
available-for-sale (net of applicable income tax
expense of $3,284)................................ 6,404
Retained earnings................................... 6,246,482
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Subtotal.......................................... 7,754,420
Less:
Treasury stock, at cost: 56,453,746 shares........ 1,998,751
Unallocated ESOP reversion shares, at cost:
4,375,113 shares................................ 68,908
Employee stock transactions....................... 228,215
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TOTAL COMMON STOCKHOLDERS' EQUITY................... 5,458,546
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TOTAL STOCKHOLDERS' EQUITY.......................... 6,077,346
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY.......... $185,472,687
============
</TABLE>
7
