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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[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 1-44
A. Full title of the plan and the address of the
plan, if different from that of the issuer named below:
ADM SAVINGS AND INVESTMENT PLAN FOR HOURLY EMPLOYEES
B.Name of the issuer of the securities held pursuant to the
Plan and the address of its principal executive office:
ARCHER DANIELS MIDLAND COMPANY
BOX 1470
DECATUR, IL 62525
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Audited Financial Statements
ADM Savings And Investment Plan For Hourly Employees
December 31, 1994
Report of Independent
Auditors...................................... 3
Statements of Net Assets Available for Plan
Benefits................ 4
Statements of Changes in Net Assets Available for Plan
Benefits..... 5
Notes to Financial
Statements....................................... 6
Schedule A--Assets Held for
Investment.............................. 9
Schedule B--Transactions or Series of Transactions in
Excess of 5% of the Current Value of Plan
Assets................. 10
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Report of Independent Auditors
Administrative Committee
ADM Savings and Investment Plan for Hourly Employees
Decatur, Illinois
We have audited the accompanying statements of net assets
available for plan benefits of the ADM Savings and Investment
Plan for Hourly Employees (the "Plan") as of December 31, 1994
and 1993, and the related statements of changes in net assets
available for plan benefits for the years then ended. These
financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on
these financial statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used
and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the net assets
available for plan benefits of the Plan at December 31, 1994
and 1993, and the changes in its net assets available for plan
benefits for the years then ended, in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on
the financial statements taken as a whole. The accompanying
supplemental schedules of assets held for investment as of
December 31, 1994 and transactions or series of transactions in
excess of 5% of the current value of plan assets for the year
ended December 31, 1994 are presented for purposes of complying
with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974, and are not a required part of the
financial statements. The supplemental schedules have been
subjected to the auditing procedures applied in our audit of the
financial statements and, in our opinion, are fairly stated in
all material respects in relation to the financial statements
taken as a whole.
ERNST & YOUNG
Minneapolis, Minnesota
June 1, 1995
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ADM Savings and Investment Plan for Hourly Employees
Statements Of Net Assets Available For Plan Benefits
December 31
1994 1993
________________________
Assets
Cash and cash equivalents $ 60,533$ 13,188
Investments (Note 1)
Archer Daniels Midland Company
common stock 17,138,498 8,465,548
Pfizer Incorporated common stock 1,699,037 1,737,972
Commingled fixed income fund 218,243 165,050
Equity mutual funds 102,702 40,587
__________ __________
19,158,480 10,409,157
Contributions receivable from employer 230,830 122,856
Contributions receivable from employees 344,826 176,793
__________ __________
Net assets available for plan benefits $19,794,669$10,721,994
========== ==========
See accompanying notes.
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ADM Savings and Investment Plan for Hourly Employees
Statement of Changes in Net Assets Available for Plan Benefits
<TABLE>
<S> <C> <C>
Year ended December 31
1994 1993
__________________________________
Additions
Contributions from Archer Daniels
Midland Company (Note 2) $ 1,987,185 $
1,254,615
Contributions from participating
employees (Note 2) 2,936,424 1,805,423
Transfer of assets 180,536 1,628
Investment income
Dividends 104,984 74,621
Interest 1,891 166
_________ _________
5,211,020 3,136,453
Deductions
Benefit payments
Common stock 563,894 267,436
Cash 209,120 206,771
Other deductions (fees) 288 135
Transfer of assets 215,445 -
_________ _________
988,747 474,342
_________ _________
4,222,273 2,662,111
Net realized and unrealized
(depreciation) appreciation
in fair value of investment 4,850,402 (782,679)
_________ _________
Net increase 9,072,675 1,879,432
Net assets available for plan
benefits at beginning of year 10,721,994 8,842,562
__________ __________
Net assets available for plan
benefits at end of year $19,794,669 $10,721,99
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========== ==========
See accompanying notes.
</TABLE>
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ADM Savings And Investment Plan For Hourly Employees
Notes To Financial Statements
December 31, 1994
1. Significant Accounting Policies
Basis of Accounting
The accounting records of the Plan are maintained on the accrual
basis.
Investments
Investments are carried at fair value. Common stocks are valued
at the quoted market price on the last business day of the Plan
year. Investments in commingled and mutual funds are stated at
the reported net asset value on the last day of the Plan year.
Unallocated funds are invested in a short-term money market
account as deemed appropriate by the trustee.
Plan Expenses
All costs of administering the Plan are paid by Archer Daniels
Midland Company ("the Company").
Plan Year
The Plan year is the twelve month period ending December 31,
corresponding to the tax year of the Company.
2. Description of the Plan
The Plan is a defined contribution plan available to
substantially all hourly employees of the Company who have
completed one year of service. Under the terms of the Plan,
employees electing to participate can contribute from 1% to 6%
of their current gross cash compensation to the Plan, within
ERISA limitations. In addition, the Company will match 100% of
the first 2% employee contribution and, for most employees, 50%
of the remaining 4% employee contribution. All contributions
are received from the Company in the form of Archer Daniels
Midland Company common stock and are fully vested to the
participant.
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ADM Savings And Investment Plan For Hourly Employees
Notes To Financial Statements (continued)
The full value of an employee's account is payable following
termination of employment. Withdrawal of shares acquired under
401(k) provisions is subject to hardship restrictions. The
Company may terminate the Plan at any time.
All plan assets are held and managed by National City Bank of
Minneapolis (trustee of the Plan). The trust will continue for
an indefinite period of time as provided by the Plan.
3. Investments
The Plan's investments are held by a bank administered trust
fund. During 1994 and 1993, the Plan's investments (including
investments bought, sold, as well as held during the year)
appreciated (depreciated) in fair value as follows:
Net
Appreciation
(Depreciation)
in Fair Value Fair Value at
During Year End of Year
______________________________________
Year ended December 31, 1994
Archer Daniels Midland Company
common stock $4,717,529 $17,138,498
Pfizer Incorporated common stock142,350 1,699,037
Commingled fixed income fund (10,313) 218,243
Equity mutual funds 836 102,702
_________ _________
$4,850,402 $19,158,480
========= =========
Year ended December 31, 1993
Archer Daniels Midland Company
common stock $(720,912) $8,465,548
Pfizer Incorporated common stock(85,683) 1,737,972
Commingled fixed income fund 18,426 165,050
Equity mutual funds 5,490 40,587
_______ __________
$(782,679) $10,409,157
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At December 31, 1994 and 1993, the fair value of the Archer
Daniels Midland Company common stock and the Pfizer Incorporated
common stock represented 5% or more of the Plan's net assets.
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ADM Savings And Investment Plan For Hourly Employees
Notes To Financial Statements (continued)
4. Transactions with Parties-in-Interest
During the two years ended December 31, 1994, the Plan had the
following transactions related to Archer Daniels Midland Company
common stock:
1994 1993
_______________________
Number of common shares contributed 185,504 125,554
Number of common shares purchased - 299
Cost of common shares purchased - $ 7,044
Cash dividends received $52,992 $ 31,206
Shares received through stock dividends303,038 16,044
Number of common shares sold 6,536 6,151
Market value of common shares sold $161,065 $145,850
Cost of common shares sold $153,593 $145,888
5. Plan Terminations
Although it has not expressed any intent to do so, the Company
has the right to terminate the Plan at any time. Upon
termination, all amounts in participatants' accounts are 100%
invested.
6. Income Tax Status
The Plan has not received a determination letter from the
Internal Revenue Service stating that the Plan is qualified
under Section 401(a) of the Internal Revenue Code of 1986 (the
"Code"). However, the plan administrator represents that the
Plan is qualified and, therefore, is exempt from taxation. ADM
has submitted the documentation to apply for tax exempt status
of the Plan with the Internal Revenue Service (IRS).
Once qualified, the Plan is required to operate in conformity
with the Code and ERISA to maintain its tax exempt status. The
administrator is not aware of any course of action or series of
events that have occurred that might adversely affect the Plan's
qualified status.
Distributions of benefits to participants, their estates or
beneficiaries, generally are subject to federal income tax as
either ordinary income or capital gain depending on the event
giving rise to the distribution and the method used.
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ADM Savings And Investment Plan For Hourly Employees
Schedule A--Assets Held For Investment
December 31, 1994
<TABLE>
<S> <C> <C>
<C>
Description of
Investment Including
Identity of Issue, Maturity Date, Rate of
Borrower, Lessor or Interest, Par or
Similar Party Maturity Value Cost Fair Value
Archer Daniels Midland
Company 830,958 shares
of common stock$12,186,206$17,138,498
Pfizer Incorporated 21,994 shares
of common stock 566,478 1,699,037
Equity mutual funds
Frank Russell--Real Estate
Securities Fund 497 units 10,113 11,201
Frank Russell--Equity I 745 units 17,958 17,379
Frank Russell--Equity II 164 units 4,019 4,093
Frank Russell--Equity III1,138 units 29,937 27,504
Frank Russell--Equity Q 713 units 17,549 17,420
Frank Russell--International732 units 25,845 25,105
__________ __________
105,421 102,702
Commingled fixed income fund
Federated High Yield Trust1,281 units 11,099 10,699
Federated International Income
Fund 4,143 units 42,502 43,006
Frank Russell--Multistrategy
Bond Fund 1,174 units 11,149 10,910
Frank Russell--Diversified
Bond Fund 7,136 units 156,857 153,628
__________ __________
221,607 218,243
__________ __________
Total assets held for investment $13,079,712$19,158,480
========== ==========
</TABLE>
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ADM Savings And Investment Plan For Hourly Employees
Schedule B--Transactions or Series of Transactions
in Excess of 5% of the Current Value of Plan Assets
Year ended December 31, 1994
<TABLE>
<S> <C> <C> <C> <C>
<C>
Net
Purchase Selling Cost of Gain
Identity of Party Involved Description of Asset/TransactionPrice Price Asset
(Loss)
Category (iii)-Series of
Transactions
National City Bank Prime Cash Money Market Fund:
Purchased 381,230 units
in 85 transactions $376,231 $376,231
Sold 327,368 units in
82 transactions $327,368 $327,368
Archer Daniels Midland Company
Archer Daniels Midland Company
common stock
Received for 401(k) plan
contribution 185,504
shares in 12 transactions$4,647,602 $4,647,602
Sold 6,536 shares in 25
transactions $161,065 $153,593 $7,472
There were no category (i), (ii) or (iv) transactions during
the year.
</TABLE>
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Signature
Pursuant to the requirements of the Securities Exchange Act of
1934, the Plan Administrator has duly caused this annual report
to be signed by the undersigned thereunto duly authorized.
ARCHER DANIELS MIDLAND COMPANY
Douglas J. Schmalz
Vice President and Chief Financial
Officer
Dated: June 22, 1995
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Exhibit 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Registration
Statement (Form S-8 No. 33-27331 dated March 20, 1989)
pertaining to the ADM Savings and Investment Plan for Hourly
Employees of our report dated June 1, 1995 with respect to the
financial statements and schedules of the ADM Savings and
Investment Plan for Hourly Employees included in this Annual
Report (Form 11-K) for the year ended December 31, 1994.
ERNST & YOUNG
Minneapolis, Minnesota
June 21, 1995
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