<PAGE>
PAGE
IDS Extra Income Fund
1994 semiannual report
(icon of) cornucopia
The primary goal of IDS Extra Income Fund, Inc. is to provide high
current income. Capital growth is a secondary goal. The fund
invests primarily in long-term, high-yielding, corporate bonds in
the lower rating categories.
Distributed by IDS Financial Services Inc.
IDS
An American Express company
AMERICAN
EXPRESS<PAGE>
PAGE
(icon of) cornucopia
Bonds with something extra
Bonds aren't necessarily conservative securities strictly for people
willing to settle for modest returns. High-yield corporate bonds, for
example, are actually quite aggressive investments, offering high
potential returns to investors willing to take more risk.
These are the bonds that IDS Extra Income Fund invests in. They're
sometimes called "junk bonds," but that term can be misleading. High-
yield bonds are issued by a wide range of companies--from well-
established ones that might be experiencing financial difficulty to new,
rapidly growing ones that have yet to build a credit history.
Importantly, the fund spreads its investments among many bonds
representing many types of businesses. This helps to reduce the
investment risk for shareholders.
Contents
From the president 3
From the portfolio manager 3
Ten largest holdings 5
Financial statements 6
Notes to financial statements 9
Investments in securities 18
Directors and officers 32
IDS mutual funds 33
<PAGE>
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To our shareholders
(Picture of William Pearce)
William Pearce
President of the fund
From the president
As you read this semiannual report, you'll find that it compliments the
newly designed annual report you received six months ago. We hope the
substantial changes we've made to the design and organization will help
make information easier to find and understand.
A good place to begin is with the portfolio manager's letter, which
describes the events and investment strategies that most influenced the
fund's performance during the past period.
For a broader financial perspective, please consult your IDS planner, who
can help you make sure your investment and protection strategies continue
to meet the objectives in your financial plan.
Sincerely,
W.R. Pearce<PAGE>
PAGE
(picture of Jack Utter)
Portfolio manager
From the portfolio manager
A stronger economy and increasing investor demand for higher-yielding
securities created favorable conditions for high-yield (low-grade) bonds
in the past six-month period. The result was that IDS Extra Income
Fund provided shareholders with a healthy total return (price
appreciation plus interest income).
During the period, rising interest rates slowed the bond market rally
and posed some challenges. However, low-grade bonds often are less
affected by rate changes than are other types of bonds such as high-
grades, which almost always lose value when rates rise. In fact, rising
rates tend to benefit low-grade bonds early on because the increases
usually are a response to a growing economy; a positive economy tends to
improve credit conditions for low-grade-bond issuers, and that supports
the value of their bonds.
Although the increase in rates has not adversely affected the portfolio,
a sustained rise in rates would. Concerns that the economy was growing
too strongly prompted the Federal Reserve in early February to raise
short-term rates. The economy grew at a faster-than-expected 7.0%
annual pace in the fourth quarter, raising fears that inflation would
increase. Despite those developments, the structure of the portfolio,
combined with the strong cash flow into low-grade bonds (which created
a positive supply/demand situation), enabled the fund to enjoy positive
performance.
"Cyclicals" boost performance
We kept the portfolio fully invested throughout the period, with about
95% of the fund's assets in low-grade bonds. We focused mainly on
"cyclical" low-grades--bonds of companies whose performance tends to
improve in a recovering economy. Examples included auto, steel,
aluminum, paper and chemical companies.
Our new portfolio purchases were concentrated in bonds with call
protection, a feature that prevents issuers from redeeming a bond prior
to its maturity date. This gives shareholders more reliable, long-term
income. In the process, we weeded from the portfolio older, "callable"
bonds whose potential for gain appeared limited.
We don't expect to make any significant changes to the portfolio unless
our scenario for the economy, inflation and interest rates changes. We
look forward to a favorable bond environment--one that is characterized
by an expanding economy with relatively low interest rates and low
inflation. However, the threat of higher inflation still looms, and
until this is resolved, there is potential that the Federal Reserve may
move short-term rates up again. We don't foresee a dramatic rate rise,
however. Our current strategy is to maintain our fully invested
position, with an above-average exposure to cyclical issues.
Jack Utter<PAGE>
PAGE
6-month performance
(All figures per share)
Net asset value (NAV)
___________________________
Feb. 28, 1994 $4.59
___________________________
Aug. 31, 1993 $4.44
___________________________
Increase $0.15
___________________________
Distributions
Sept. 1, 1993-Feb. 28, 1994
___________________________
From income $0.23
___________________________
Total return* +8.6%
___________________________
*If you purchased shares in the fund during this period, your return
also would have been affected by the sales charge, as described in
the prospectus.<PAGE>
PAGE
<TABLE>
<CAPTION>
IDS Extra Income Fund, Inc.
Your fund's ten largest holdings
Percent Value
(of fund's net assets) (as of Feb. 28, 1994)
<S> <C> <C>
Gaylord Container 1.39% $24,500,000
Zero Coupon Sr Sub Disc Deb 1996
Trump Taj Mahal Funding 1.30 22,918,403
Pay-in-Kind 1999
Kash n' Karry Food Stores 1.20 21,230,000
14% Sub Deb 2001
Robin Media Group 1.17 20,625,000
11.125% 1997
Bally's Grand 1.15 20,400,000
10.375% 1st Mortgage 2003
G-I Holdings 1.12 19,883,500
Pay-in-Kind 2005
GNF Bally 1.08 19,100,000
10.625% 2003
MGM Grand Hotel Finance 1.05 18,600,000
12% 2002
Pantry Pride .96 16,995,000
14.875% Preferred
GB Property Funding .95 16,815,500
10.875% 1st Mortgage 2004
/TABLE
<PAGE>
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<TABLE>
<CAPTION>
Financial statements
Statement of assets and liabilities
IDS Extra Income Fund, Inc.
Feb. 28, 1994
_____________________________________________________________________________________________________________
Assets
_____________________________________________________________________________________________________________
(Unaudited)
<S> <C>
Investments in securities, at value (Note 1):
Investments in securities of unaffiliated issuers (identified cost $1,669,984,518) $1,747,220,836
Investments in securities of affiliated issuer (identified cost $11,757,778) 10,641,063
_____________________________________________________________________________________________________________
Total investments in securities (identified cost $1,681,742,296) 1,757,861,899
Cash in bank on demand deposit 5,452,001
Dividends and accrued interest receivable 29,551,683
Receivable for investment securities sold 24,053,309
_____________________________________________________________________________________________________________
Total assets 1,816,918,892
_____________________________________________________________________________________________________________
Liabilities
_____________________________________________________________________________________________________________
Dividends payable to shareholders 6,984,667
Payable for investment securities purchased 29,994,201
Payable upon return of securities loaned (Note 5) 10,815,290
Accrued investment management and services fee 811,170
Accrued distribution fee 49,647
Accrued transfer agency fee 128,254
Other accrued expenses 264,851
_____________________________________________________________________________________________________________
Total liabilities 49,048,080
_____________________________________________________________________________________________________________
Net assets applicable to outstanding capital stock $1,767,870,812
_____________________________________________________________________________________________________________
Represented by
_____________________________________________________________________________________________________________
Capital stock -- authorized 10,000,000,000 shares of $.01 par value;
outstanding 385,524,635 shares $ 3,855,246
Additional paid-in capital 1,862,854,296
Undistributed net investment income 2,217,885
Accumulated net realized loss on investments (Notes 1 and 6) (177,176,218)
Unrealized appreciation of investments 76,119,603
_____________________________________________________________________________________________________________
Total -- representing net assets applicable to outstanding capital stock $1,767,870,812
_____________________________________________________________________________________________________________
Net asset value per share of outstanding capital stock $ 4.59
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
/TABLE
<PAGE>
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<TABLE>
<CAPTION>
Statement of operations
IDS Extra Income Fund, Inc.
Six months ended Feb. 28, 1994
_____________________________________________________________________________________________________________
Investment income
_____________________________________________________________________________________________________________
(Unaudited)
<S> <C>
Income:
Interest $ 80,160,107
Dividends 5,883,192
_____________________________________________________________________________________________________________
Total income 86,043,299
_____________________________________________________________________________________________________________
Expenses (Note 2):
Investment management and services fee 4,903,291
Distribution fee 308,756
Transfer agency fee 783,862
Compensation of directors 18,170
Compensation of officers 7,970
Custodian fees 58,718
Postage 136,944
Registration fees 55,136
Reports to shareholders 28,965
Audit fees 16,000
Administrative 13,880
Other 17,930
_____________________________________________________________________________________________________________
Total expenses 6,349,622
_____________________________________________________________________________________________________________
Investment income -- net 79,693,677
_____________________________________________________________________________________________________________
Realized and unrealized gain on investments -- net
_____________________________________________________________________________________________________________
Net realized gain on security transactions (Note 3) 43,459,938
Net change in unrealized appreciation or depreciation of investments 10,494,366
_____________________________________________________________________________________________________________
Net gain on investments 53,954,304
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations $133,647,981
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
/TABLE
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<TABLE>
<CAPTION>
Financial statements
Statements of changes in net assets
IDS Extra Income Fund, Inc.
_____________________________________________________________________________________________________________
Operations and distributions Feb. 28, 1994 Aug. 31, 1993
_____________________________________________________________________________________________________________
Six months ended Year ended
(Unaudited)
<S> <C> <C>
Investment income -- net $ 79,693,677 $ 137,735,499
Net realized gain on investments 43,459,938 59,460,534
Net change in unrealized appreciation or
depreciation of investments 10,494,366 6,572,270
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations 133,647,981 203,768,303
_____________________________________________________________________________________________________________
Distributions to shareholders from:
Net investment income (81,573,089) (139,601,427)
_____________________________________________________________________________________________________________
Capital share transactions
_____________________________________________________________________________________________________________
Proceeds from sales of
61,301,183 and 90,619,745 shares (Note 2) 277,348,061 391,025,555
Net asset value of 11,521,337 and 19,625,754 shares
issued in reinvestment of distributions 52,024,458 84,307,910
Payments for redemptions of
35,576,139 and 69,444,351 shares (160,371,519) (296,682,899)
_____________________________________________________________________________________________________________
Increase in net assets from capital share transactions
representing net addition of
37,246,381 and 40,801,148 shares 169,001,000 178,650,566
_____________________________________________________________________________________________________________
Total increase in net assets 221,075,892 242,817,442
Net assets at beginning of period 1,546,794,920 1,303,977,478
_____________________________________________________________________________________________________________
Net assets at end of period
(including undistributed net investment income of $2,217,885
and $4,097,297) $1,767,870,812 $1,546,794,920
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
/TABLE
<PAGE>
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Notes to financial statements
IDS Extra Income Fund, Inc.
(Unaudited as to Feb. 28, 1994)
______________________________________________________________________________
1. Summary of significant accounting policies
The fund is registered under the Investment Company
Act of 1940 (as amended) as a diversified, open-end
management investment company. Significant accounting
policies followed by the fund are summarized below:
Valuation of securities
All securities are valued at the close of each
business day. Securities traded on national
securities exchanges or included in national market
systems are valued at the last quoted sales price;
securities for which market quotations are not
readily available, including illiquid securities, are
valued at fair value according to methods selected in
good faith by the board of directors. Determination
of fair value involves, among other things, reference
to market indexes, matrixes and data from independent
brokers. Short-term securities maturing in more than
60 days from the valuation date are valued at the
market price or approximate market value based on
current interest rates; those maturing in 60 days or
less are valued at amortized cost.
Options transactions
In order to produce incremental earnings, protect
gains, and facilitate buying and selling of
securities for investment purposes, the fund may buy
or write options traded on any U.S. or foreign
exchange or in the over-the counter market where the
completion of the obligation is dependent upon the
credit standing of the other party. The fund may buy
and sell put and call options and write covered call
options on portfolio securities and may write
cash-secured put options. The risk in writing a call
option is that the fund gives up the opportunity of
profit if the market price of the security increases.
The risk in writing a put option is that the fund may
incur a loss if the market price of the security
decreases and the option is exercised. The risk in
buying an option is that the fund pays a premium
whether or not the option is exercised. The fund also
has the additional risk of not being able to enter
into a closing transaction if a liquid secondary
market does not exist. The fund also may write
over-the-counter options where the completion of the
obligation is dependent upon the credit standing of
the other party.
<PAGE>
PAGE
Notes to financial statements
IDS Extra Income Fund, Inc.
______________________________________________________________________________
Option contracts are valued daily at the closing
prices on their primary exchanges and unrealized
appreciation or depreciation is recorded. The fund
will realize a gain or loss upon expiration or
closing of the option transaction. When options on
debt securities or futures are exercised, the fund
will realize a gain or loss. When other options are
exercised, the proceeds on sales for a written call
option, the purchase cost for a written put option or
the cost of a security for a purchased put or call
option is adjusted by the amount of premium received
or paid.
Foreign currency translations and
forward foreign currency contracts
Securities and other assets and liabilities
denominated in foreign currencies are translated
daily into U.S. dollars at the closing rate of
exchange. Foreign currency amounts related to the
purchase or sale of securities and income and
expenses are translated at the exchange rate on the
transaction date. It is not practicable to identify
that portion of realized and unrealized gain (loss)
arising from changes in the exchange rates from the
portion arising from changes in the market value of
investments.
<PAGE>
PAGE
Notes to financial statements
IDS Extra Income Fund, Inc.
______________________________________________________________________________
The fund may enter into forward foreign currency
exchange contracts for operational purposes and to
protect against adverse exchange rate fluctuation.
The net U.S. dollar value of foreign currency
underlying all contractual commitments held by the
fund and the resulting unrealized appreciation or
depreciation are determined using foreign currency
exchange rates from an independent pricing service.
The fund is subject to the credit risk that the other
party will not complete the obligations of the
contract.
Federal taxes
Since the fund's policy is to comply with all
sections of the Internal Revenue Code applicable to
regulated investment companies and to distribute all
of its taxable income to shareholders, no provision
for income or excise taxes is required.
Net investment income (loss) and net realized gains
(losses) may differ for financial statement and tax
purposes primarily because of the deferral of losses
on certain futures contracts, the recognition of
certain foreign currency gains (losses) as ordinary
income (loss) for tax purposes, and losses deferred
due to "wash sale" transactions. The character of
distributions made during the year from net
investment income or net realized gains may differ
from their ultimate characterization for federal
income tax purposes. Also, due to the timing of
dividend distributions, the fiscal year in which
amounts are distributed may differ from the year that
the income or realized gains (losses) were recorded
by the fund.
<PAGE>
PAGE
Notes to financial statements
IDS Extra Income Fund, Inc.
______________________________________________________________________________
Dividends to shareholders
Dividends from net investment income, declared daily
and payable monthly, are reinvested in additional
shares of the fund at net asset value or payable in
cash. Capital gains, when available, are distributed
along with the last income dividend of the calendar
year.
Other
Security transactions are accounted for on the date
securities are purchased or sold. Dividend income is
recognized on the ex-dividend date and interest
income, including level-yield amortization of premium
and discount, is accrued daily.
______________________________________________________________________________
2. Expenses and sales charges
Under terms of an agreement dated Nov. 14, 1991, the
fund pays IDS Financial Corporation (IDS) a fee for
managing its investments, recordkeeping and other
specified services. The fee is a percentage of the
fund's average daily net assets consisting of a group
asset charge in reducing percentages from 0.46% to
0.32% annually on the combined net assets of all
non-money market funds in the IDS MUTUAL FUND GROUP
and an individual annual asset charge of 0.21% of
average daily net assets.
The fund also pays IDS a distribution fee at an
annual rate of $6 per shareholder account and a
transfer agency fee at an annual rate of $15.50 per
shareholder account. The transfer agency fee is
reduced by earnings on monies pending shareholder
redemptions.
<PAGE>
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Notes to financial statements
IDS Extra Income Fund, Inc.
______________________________________________________________________________
IDS will assume and pay any expenses (except taxes
and brokerage commissions) that exceed the most
restrictive applicable state expense limitation.
Sales charges by IDS Financial Services Inc. for
distributing fund shares were $7,429,629 for the six
months ended Feb. 28, 1994.
The fund has a retirement plan for its independent
directors. Upon retirement, directors receive monthly
payments equal to one-half of the retainer fee for as
many months as they served as directors up to 120
months. There are no death benefits. The plan is not
funded but the fund recognizes the cost of payments
during the time the directors serve on the board.
The retirement plan expense amounted to $6,136 for
the six months ended Feb. 28, 1994.
______________________________________________________________________________
3. Securities transactions
Cost of purchases and proceeds from sales of
securities (other than short-term obligations)
aggregated $859,627,283 and $717,323,523,
respectively, for the six months ended Feb. 28, 1994.
Realized gains and losses are determined on an
identified cost basis.
<PAGE>
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Notes to financial statements
IDS Extra Income Fund, Inc.
______________________________________________________________________________
4. Illiquid securities
At Feb. 28, 1994, investments in securities included
issues that are illiquid. The fund currently limits
investments in illiquid securities to 10% of the net
assets, at market value, at the time of purchase. The
aggregate value of such securities at Feb. 28, 1994
was $47,035,012 which represents 2.66% of net assets.
Pursuant to guidelines adopted by the fund's board of
directors, certain unregistered securities are
determined to be liquid and are not included within
the 10% limitation specified above.
______________________________________________________________________________
5. Lending of portfolio securities
At Feb. 28, 1994, securities valued at $10,551,805
were on loan to brokers. For collateral, the fund
received $10,815,290 in cash. Income from securities
lending amounted to $70,392 for the six months ended
Feb. 28, 1994. The risks to the fund of securities
lending are that the borrower may not provide
additional collateral when required or return the
securities when due.
______________________________________________________________________________
6. Capital loss carryover
For federal income tax purposes, the fund had a
capital loss carryover of approximately $180,813,000
at Feb. 28, 1994, that will expire in 1998 through
2000 if not offset by subsequent capital gains. It is
unlikely the board of directors will authorize a
distribution of any net realized capital gains until
the available capital loss carryover has been offset
or expires.<PAGE>
PAGE
Notes to financial statements
IDS Extra Income Fund, Inc.
_______________________________________________________________________________
7. Financial highlights
The table below shows certain important financial
information for evaluating the funds's results.
Fiscal period ended Aug. 31,
Per share income and capital changes*
<TABLE><CAPTION>
1994** 1993 1992 1991 1990 1989
<S> <C> <C> <C> <C> <C> <C>
Net asset value, $4.44 $4.24 $3.72 $3.47 $4.46 $4.67
beginning of period
Income from investment operations:
Net investment income .22 .47 .44 .42 .46 .53
Net gains (losses) on .16 .16 .52 .24 (1.01) (.20)
securities (both realized
and unrealized)
Total from investment .38 .63 .96 .66 (.55) .33
operations
Less distributions:
Dividends from net (.23) (.43) (.44) (.41) (.44) (.54)
investment income
Net asset value, $4.59 $4.44 $4.24 $3.72 $3.47 $4.46
end of period
Ratios/supplemental data
1994** 1993 1992 1991 1990 1989
Net assets, end of period $1,768 $1,547 $1,304 $990 $931 $1,302
(in millions)
Ratio of expenses to .79%*** .81% .83% .88% .84% .82%
average daily net assets
Ratio of net income to 9.87%*** 10.03% 11.13% 12.45% 12.28% 11.67%
average daily net assets
Portfolio turnover rate 45% 70% 89% 88% 88% 102%
(excluding short-term
securities)
Total return+ 8.6%++ 15.8% 26.9% 21.2% (12.5)% 7.4%
*For a share outstanding throughout the period. Rounded to the nearest cent.
**Six months ended Feb. 28, 1994 (Unaudited).
***Adjusted to an annual basis.
+Total return does not reflect payment of a sales charge.
++For the fiscal period ended Feb. 28, 1984, the annualized total return is 17.9%.
<PAGE>
The information in this table has been audited by KPMG Peat Marwick, independent auditors. The
independent auditors' report and additional information about the performance of the fund is
contained in the fund's annual report which, if not included with this prospectus, may be obtained
without charge.
/TABLE
<PAGE>
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<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994 (Unaudited)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (87.0%)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Mortgage-backed securities (0.4%)
Federal Home Loan Mtge Corp 5.375% 1994-17 $ 9,844 (b) $ 10,120
Inverse Floater 8.627 2023 12,000,000 (l) 7,200,000
______________
Total 7,210,120
_____________________________________________________________________________________________________________________________
Financial (2.0%)
Financial services (0.7%)
KHE Finance
Sub Nts 11.25 2002 8,000,000 8,800,000
PRT Funding
Sr Nts 11.625 2004 3,700,000 3,681,500
_____________
Total 12,481,500
_____________________________________________________________________________________________________________________________
Insurance (1.3%)
Americo Life
Sr Sub Nts 9.25 2005 10,000,000 10,200,000
Life Partners
Sr Sub Nts 12.75 2002 10,000,000 11,800,000
USLICO
Cv 8.50 2014 600,000 621,000
______________
Total 22,621,000
_____________________________________________________________________________________________________________________________
Industrial (77.3%)
Aerospace & defense (1.0%)
Fairchild
Sub Deb 12.00 2001 10,000,000 10,000,000
Sequa
Sr Sub Nts 9.375 2003 7,000,000 7,183,750
______________
Total 17,183,750
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
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<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Automotive & related (0.4%)
Exide 12.25 % 1997 $10,000,000 (g) $ 7,300,000
_____________________________________________________________________________________________________________________________
Beverages & tobacco (0.4%)
Seven-Up/RC Bottling
Sr Sub Nts 11.50 1999 7,500,000 (c) 7,725,000
_____________________________________________________________________________________________________________________________
Building materials (3.8%)
Associated Materials
Sr Sub Nts 11.50 2003 14,000,000 14,805,000
Baldwin 10.375 2003 15,000,000 15,262,500
Color Tile
Sr Nts 10.75 2001 13,000,000 13,487,500
Congoleum
Sr Nts 9.00 2001 3,000,000 3,015,000
NVR
Sr Nts 11.00 2003 10,000,000 10,762,500
Southdown
Sr Sub Nts 14.00 2001 5,000,000 5,806,250
Southwest Forest Inds
Sub Deb 12.125 2001 4,000,000 4,150,000
______________
Total 67,288,750
_____________________________________________________________________________________________________________________________
Chemicals (2.6%)
Envirodyne Inds
Sr Nts 10.25 2001 15,170,689 (c) 15,625,810
Harris Chemical North Amer
Sr Nts 10.25 1996 8,200,000 (g) 7,257,000
Rexene
Sr Reset Nts 9.00 1999 13,500,000 (k) 13,061,250
Uniroyal Chemical 13.24 1998 5,000,000 (g) 3,325,000
Sr Sub Nts 11.00 2003 6,000,000 6,570,000
______________
Total 45,839,060
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Communications equipment (4.0%)
Adelphia Communications
Pay-in-Kind -- % 2004 $10,000,000 (d) $ 9,987,500
Sr Deb 11.875 2004 5,000,000 5,700,000
Sr Nts 12.50 2002 10,000,000 11,562,500
Cencall Communications
Sr Nts 10.09 1999 10,000,000 (g) 6,350,000
Dial Call Communications
Sr Nts 10.21 1998 12,250,000 (d,g) 7,472,500
Horizon Cellular Tel
Sr Sub Nts 6.42 1997 4,752,000 (g) 3,468,962
MFS Communications
Sr Nts 9.34 1999 15,000,000 (g) 9,937,500
Nextel Communications
Sr Nts 9.75 1999 17,100,000 (g) 11,286,000
Plantronics 10.00 2001 4,000,000 4,140,000
______________
Total 69,904,962
_____________________________________________________________________________________________________________________________
Computers & office equipment (0.7%)
Anacomp 12.25 1997 3,950,000 (f) 4,206,750
Computervision
Sr Sub Nts 11.375 1999 10,000,000 9,000,000
______________
Total 13,206,750
_____________________________________________________________________________________________________________________________
Electronics (0.4%)
Triangle
Sr Nts 13.50 2002 13,000,000 (e,f) 6,500,000
_____________________________________________________________________________________________________________________________
Energy (1.7%)
Clark R&M Holdings 11.00 2000 15,000,000 (g) 8,400,000
Petroleum Heat & Power
Sub Deb 9.375 2006 3,000,000 3,022,500
Triton Energy
Sr Nts 9.68 1996 15,000,000 (g) 11,662,500
Wainoco Oil
Sr Sub Nts 12.00 2002 6,000,000 6,420,000
______________
Total 29,505,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
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<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Energy equipment & services (1.4%)
Dual Drilling
Sr Sub Nts 9.875% 2004 $ 5,000,000 $ 5,087,500
Global Marine
Sr Sub Nt 12.75 1999 10,000,000 11,225,000
OPI Intl
Gtd Sr Nts 12.875 2002 8,000,000 9,350,000
______________
Total 25,662,500
_____________________________________________________________________________________________________________________________
Food (2.8%)
Di Giorgio
Sr Nts 12.00 2003 10,000,000 10,962,500
Fresh Del Monte Produce
Sr Nts 10.00 2003 10,000,000 9,750,000
Specialty Foods 11.25 2003 11,000,000 (d) 11,728,750
12.96 1999 20,000,000 (d,g) 10,850,000
White Rose Foods
Sr Nts 12.75 1998 10,000,000 (g) 5,737,500
_____________
Total 49,028,750
_____________________________________________________________________________________________________________________________
Furniture & appliances (0.9%)
Levitz
Sr Sub Nts 9.625 2003 15,000,000 15,525,000
_____________________________________________________________________________________________________________________________
Health care (1.4%)
Alco Health
Pay-in-Kind -- 2005 7,896,000 8,399,370
Amer Medical Intl
Sr Sub Nts 9.50 2006 6,500,000 6,906,250
EPIC Healthcare Group
Employee Stock Option Plan 11.875 1998 9,500,000 10,260,000
______________
Total 25,565,620
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Industrial equipment & services (1.1%)
Allison Engine Acquisition
Sr Sub Nts 10.00 % 2003 $ 3,000,000 $ 3,030,000
Amer Standard
Sr Sub Disc Deb 10.46 1998 7,500,000 (g) 5,100,000
Fairchild Inds
Sr Secured Nts 12.25 1999 10,000,000 10,425,000
Thermadyne
Pay-in-Kind Sr Nts -- 1999 176,250 (e) 191,231
______________
Total 18,746,231
_____________________________________________________________________________________________________________________________
Leisure time & entertainment (6.6%)
AMC Entertainment
Sr Nts 11.875 2000 7,500,000 8,381,250
Belle Casinos 12.00 2000 4,000,000 (d) 4,160,000
1st Mtge 12.00 2000 6,000,000 6,000,000
Bally's Health & Tennis
Sr Sub Nts 13.00 2003 13,000,000 13,097,500
Bally's Park Place Funding
1st Mtge Nts 11.875 1999 7,350,000 7,938,000
Cinemark (USA)
Sr Sub Nts 12.00 2002 11,500,000 12,908,750
Kloster Cruise
Sr Secured Nts 13.00 2003 15,000,000 16,762,500
Marvel (Parent) Holdings
Sr Secured Disc Nts 12.25 1998 10,000,000 (g) 6,625,000
MGM Grand Hotel Finance 12.00 2002 16,000,000 18,600,000
Trump Taj Mahal Funding
Pay-in-Kind -- 1999 22,197,000 22,918,403
______________
Total 117,391,403
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Media (12.4%)
Ackerley Communications
Sr Secured Nts 10.75 % 2003 $ 7,000,000 (d) $ 7,472,500
Cablevision Systems 9.25 2008 15,000,000 15,450,000
Sr Sub Deb 9.875 2013 8,000,000 8,800,000
Sr Sub Deb 10.75 2004 7,000,000 7,560,000
Comcast
Sr Sub Deb 9.50 2008 6,000,000 6,420,000
Comcast Cellular 11.73 2000 20,000,000 (g) 13,000,000
Continental Cablevision
Sr Sub Deb 11.00 2007 9,800,000 11,478,250
Dimac Direct 12.00 2003 5,000,000 (d) 5,174,950
Falcon Holding Group
Pay-in-Kind Sr Sub Nts -- 2003 8,931,137 9,935,890
Insight Communications
Sr Sub Nts 8.25 2000 6,000,000 6,150,000
New City Communications
Sr Sub Nts 11.375 2003 7,000,000 7,490,000
News Amer Holdings
Sr Deb 10.125 2012 5,000,000 5,962,500
Sr Nts 12.00 2001 8,000,000 9,720,000
Outdoor Systems
Sr Nts 10.75 2003 7,500,000 7,875,000
Panamsat 12.63 1998 22,000,000 (g) 15,070,000
Robin Media Group 11.125 1997 20,000,000 20,625,000
11.625 1999 5,000,000 5,168,750
Rogers Communications
Sr Deb 10.875 2004 5,000,000 5,412,500
SCI Television 7.50 1998 3,200,000 3,140,000
Sr Secured Nts 11.00 2005 10,000,000 (d) 10,525,000
SPI Holding
Pay-in-Kind Sr Sub Nts -- 2002 14,000,000 14,385,000
Sr Disc Nts 11.50 1996 6,000,000 (g) 4,635,000
Universal Outdoor 11.00 2003 10,000,000 (d) 10,325,000
Univision 11.75 2001 7,000,000 7,822,500
______________
Total 219,597,840
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Metals (1.1%)
Kaiser Aluminum & Chemical
Sr Nts 9.875% 2002 $ 7,500,000 (c) $ 7,396,875
Magma Copper
Sr Sub Nts 12.00 2001 5,000,000 5,662,500
Republic Engineered Steels
1st Mtge 9.875 2001 6,000,000 6,240,000
_____________
Total 19,299,375
_____________________________________________________________________________________________________________________________
Multi-industry conglomerates (1.6%)
G-I Holdings
Pay-in-Kind -- 2005 29,900,000 (d) 19,883,500
Nortek
Sr Sub Nts 9.875 2004 9,000,000 8,820,000
_____________
Total 28,703,500
_____________________________________________________________________________________________________________________________
Paper & packaging (6.6%)
Container Corp Amer
Sr Sub Nts 13.50 1999 2,000,000 2,230,000
Sub Deb 14.00 2001 13,000,000 14,527,500
Crown Packaging Holdings
Sr Sub Nts 12.25 2000 15,000,000 (g) 7,500,000
Fort Howard
Sr Sub Nts 9.00 2006 12,000,000 11,820,000
Sub Deb 12.625 2000 5,300,000 5,604,750
Gaylord Container
Sr Sub Disc Deb 12.66 1996 28,000,000 (g) 24,500,000
Plastic Containers
Sr Secured Nts 10.75 2001 5,000,000 5,325,000
Repap Wisconsin
Sr Secured Nts 9.25 2002 4,000,000 4,030,000
Silgan 13.19 1995 20,000,000 (g) 16,150,000
Stone Container
Sr Nts 9.875 2001 10,000,000 9,800,000
Sr Nts 12.625 1998 4,500,000 4,893,750
Sweetheart Cup
Sr Sub Nts 10.50 2003 10,000,000 10,775,000
______________
Total 117,156,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Restaurants & lodging (6.2%)
Bally's Grand
1st Mtge 10.375% 2003 $20,000,000 (d) $ 20,400,000
Capital Gaming Intl 11.50 2001 5,000,000 6,225,000
Elsinor W/W 12.50 2000 4,200,000 4,221,000
Family Restaurant
Sr Sub Nts 10.79 1997 8,000,000 (g) 5,840,000
GB Property Funding
1st Mtge 10.875 2004 16,900,000 16,815,500
GNF Bally 10.625 2003 20,000,000 19,100,000
Hammons (John Q.) Hotels
1st Mtge 8.875 2004 12,000,000 11,940,000
Hemmetter Enterprises
Pay-in-Kind -- 1999 5,000,000 (d) 5,350,000
Lady Luck Gaming
1st Mtge 10.50 2001 4,750,000 (d) 4,821,250
Treasure Bay Gaming
1st Mtge 12.25 2000 5,000,000 (d) 5,200,000
Trump Castle Funding
Mtge Nts 11.75 2003 11,011,250 10,350,575
______________
Total 110,263,325
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Retail (12.3%)
Aparel Re 12.67 % 2005 $18,000,000 (g) $ 11,227,500
Big V Supermarkets
Sr Sub Nts 11.00 2004 13,500,000 (d) 13,702,500
Collins & Aikman Group
Sr Sub Deb 11.875 2001 7,000,000 7,192,500
Farm Fresh
Sr Nts 12.25 2000 14,500,000 15,696,250
Food 4 Less Supermarkets 15.25 1997 9,000,000 (g) 6,412,500
General Host
Sr Nts 11.50 2002 6,400,000 6,544,000
GND Holdings
Jr Sub Nt 6.18 1999 3,949,557 (f,g) 3,554,601
Grand Union 14.21 1999 10,000,000 (g) 4,537,500
Sr Sub Nts 12.25 2002 13,000,000 13,780,000
Kash n' Karry Food Stores
Sub Deb 14.00 2001 22,000,000 (c) 21,230,000
Mary Kay Inds
Sr Nts 12.75 2000 8,000,000 9,080,000
Mayfair Super Markets
Sr Sub Nts 11.75 2003 6,000,000 6,360,000
Pathmark Stores
Jr Sub Nts 11.71 1999 26,000,000 (g) 14,917,500
Sr Sub Nts 9.625 2003 15,000,000 15,225,000
Penn Traffic
Sr Nts 8.625 2003 10,000,000 10,000,000
Sr Sub Nts 9.625 2005 5,000,000 5,200,000
Revlon Consumer Products 10.50 2003 10,000,000 9,825,000
Revlon Worldwide
Sr Secured Disc Nts 12.00 1998 21,500,000 (g) 10,884,375
Specialty Retailers 10.00 2000 5,500,000 5,671,875
Super Rite Foods
Sr Sub Nts 10.625 2002 14,000,000 15,102,500
Synthetic Inds
Sr Sub Deb 12.75 2002 9,300,000 10,625,250
______________
Total 216,768,851
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Industrial (cont'd)
Textiles & apparel (2.7%)
Bibb
Sr Sub Nts 14.00 % 1999 $ 9,000,000 $ 9,630,000
Cherokee Group
Pay-in-Kind -- 1999 1,038 906
Dominion Textiles
Sr Nts 8.875 2003 5,000,000 4,987,500
Hat Brand 12.625 2002 5,000,000 5,356,250
JPS Textile Group
SF Deb 9.25 1999 12,000,000 12,240,000
United States Leather
Sr Nts 10.25 2003 6,900,000 6,882,750
WestPoint Stevens
Sr Sub Deb 9.375 2005 8,000,000 8,180,000
______________
Total 47,277,406
_____________________________________________________________________________________________________________________________
Miscellaneous (5.2%)
Carbide/Graphite Group
Sr Nts 11.50 2003 10,000,000 10,775,000
Clevite Inds
Sub Deb 12.375 2001 8,000,000 5,200,000
ECM Funding LP 11.918 2002 4,522,662 (f) 5,072,165
EnviroSource
Sr Nts 9.75 2003 8,000,000 8,020,000
Flagstar
Sr Nts 10.875 2002 7,000,000 7,297,500
Mosler 11.00 2003 16,000,000 15,300,000
PG Partners LP 12.00 1998 706,860 (f) 713,929
13.60 1998 341,760 (f) 345,177
Talley Inds 12.20 1998 20,000,000 (g) 13,025,000
Talley Mfg & Technology
Sr Nts 10.75 2003 12,000,000 12,570,000
TransDigm
Sr Secured Nts 13.00 2000 6,000,000 (f) 5,760,000
Webcraft Technology 12.00 1996 7,248,951 7,267,073
______________
Total 91,345,844
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C> Transportation
(0.7%)
Braniff
Sr Reset Nts 15.00% 1999 $ 5,000,000 (e,i,k) $ --
GPA Delaware 8.75 1998 15,000,000 13,200,005
______________
Total 13,200,005
_____________________________________________________________________________________________________________________________
Utilities (2.4%)
Electric (1.7%)
EUA Power
Pay-in-Kind -- 1992-93 7,766,300 1,145,529
First Palo Verde Funding 10.15 2016 6,150,000 6,226,875
Midland Funding II 13.25 2006 12,500,000 14,359,375
Texas-New Mexico Power
Secured Deb 10.75 2003 7,000,000 (c) 7,568,750
______________
Total 29,300,529
_____________________________________________________________________________________________________________________________
Gas (0.7%)
Columbia Gas System
SF Deb 10.15 2013 5,000,000 (e) 6,162,500
SF Deb 10.50 2012 5,000,000 (e) 6,237,500
______________
Total 12,400,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Bonds (continued)
_____________________________________________________________________________________________________________________________
Issuer Coupon Maturity Principal Value(a)
rate year amount
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Foreign (4.2%)(h)
Argentina Republic Euro
(U.S. Dollar) 4.00 % 2023 $ 2,000,000 $ 1,220,000
Canadian Pacific Forest Products
(U.S. Dollar) 9.375 2004 7,000,000 (d) 7,008,750
Doman Inds
(U.S. Dollar) 8.75 2004 13,500,000 13,500,000
Gentra-Royal
(Canadian Dollar) 11.30 1998 12,000,000 8,255,652
ICH
(U.S. Dollar) 11.25 1996 11,000,000 11,385,000
Methanex
(U.S. Dollar) 8.875 2001 10,150,000 10,556,000
Mexican/United States Govts Euro
(U.S. Dollar) 6.25 2019 6,000,000 4,470,000
Republic of Brazil
(U.S. Dollar) 4.313 2001 5,940,000 4,930,200
Republic of Venezuela
(U.S. Dollar) 6.75 2020 5,500,000 3,272,500
Tarkett Intl
(U.S. Dollar) 9.50 2002 10,000,000 (d) 9,975,000
______________
Total 74,573,102
_____________________________________________________________________________________________________________________________
Total bonds
(Cost: $1,466,035,771) $1,538,571,173
_____________________________________________________________________________________________________________________________
Preferred stocks and other (9.3%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Algoma Finance
5.50% 200,000 (h) $ 3,180,940
AM Intl
Common 604,702 (e) 6,500,547
Amphenol
Warrants 50,000 625,000
Anacomp
$8.25 50,000 (f) 1,868,750
Warrants 166,930 396,460
Berg Electronics
Common 770,400 (e) 1,309,680
Pay-in-Kind 321,881 (d) 8,529,847
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Preferred stocks and other (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Industrial Braniff
Warrants 75,000 (i) $ --
Capital Gaming Intl
Warrants 12,500 37,500
Cherokee
Warrants 44,107 7,949
Collins & Aikman Group
$2.50 Cv 35,000 778,750
Pay-in-Kind 129,000 2,612,250
Color Tile
13% Pfd 200,000 (f) 5,200,000
Crown Packaging
Warrants 10,000 350,000
Dial Page
Warrants 18,902 (i) --
Dr. Pepper/Seven-Up
Common 175,000 (e) 4,287,500
Envirodyne Inds
Common 727,117 (e) 6,907,602
EnviroSource
7.25% Cv 112,000 (e) 12,768,000
EPIC Healthcare Group
Common 500,000 (e) 3,375,000
EUA Power
Contingent Interest Certificates 5,000 (e,i) --
Federated Dept Stores
Warrants 72,890 373,561
First Chicago
2.875% Cv 50,000 2,725,000
Foodmaker
Warrants 7,000 189,000
Gaylord Container
Common 125,162 (e) 704,036
Warrants 883,477 3,533,908
Gilbert Robinson Holdings
Warrants 5,886 29,430
GND Holdings
Pay-in-Kind 77,500 (e) 9,455,000
Harvard Inds
Pay-in-Kind 499,875 13,059,234
Hat Brands
Warrants 30,108 (f) 1,038,726
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Preferred stocks and other (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Hills Stores 286,199 $ 5,938,629
Rights 67,071 1,207,278
Rights 67,071 (i) --
Cv 192,080 3,841,600
Homestead Savings
Warrants 42,500 43
Insilco
Common 1,152 (e) 19,008
INTERCO
Warrants 51,933 201,240
K-III Communications
Pay-in-Kind Sr Exchangeable 89,403 (f) 9,074,365
Kash n' Karry Food Stores
Common 4,875 (e) 127,156
Lear Holdings
Common 5,950 (e) 2,677,500
Liberty Media 100,000 8,025,000
Maryland Cable
Common 378,000 (e) 3,780
Merry Land & Investment
1.75% Cm Cv 42,500 1,375,937
Natl Health Investors
8.50% Cv 60,000 1,530,000
Natl Intergroup
Pay-in-Kind 100,000 3,700,000
NVR
Common 100,000 (e) 950,000
Occidental Petroleum
3.875% Cm Cv 33,000 (d) 1,711,875
Pantry Pride
14.875% Pfd 165,000 16,995,000
PG Partners LP
Warrants 42,418 (f) 2,757,173
Plantronics
Common 72,000 (e) 1,197,000
Reliance Group Holdings
Warrants 277,791 833,373
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Preferred stocks and other (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Servam
Common 6,800 (e) $ 68
$2.00 Warrants 60,486 605
$4.50 Warrants 13,600 136
Southdown
Warrants 50,000 (f) 450,000
Specialty Foods Acquisition
Common 300,000 (e) 525,000
Supermarket General
Pay-in-Kind Cv 175,000 4,987,500
TransDigm
Warrants 47,872 (f) 480,000
Triangle
Warrants 130,000 (f) 1,300
Unisys
$3.75 Cm Cv 125,400 6,301,352
Webcraft Technology
Common 32,502 (e) 325
WestFed Holdings
Non-Voting Common 21,699 (e,i) --
Pay-in-Kind Cm Sr 71,264 (e,f) 71,264
_____________________________________________________________________________________________________________________________
Total preferred stocks and other
(Cost: $160,125,805) $ 164,827,177
_____________________________________________________________________________________________________________________________
Short-term securities (2.5%)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable at
date of maturity
purchase
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C>
U.S. government agency (0.2%)
Federal Natl Mtge Assoc Disc Notes
03-17-94 3.10% $ 900,000 $ 898,676
03-31-94 3.30 3,125,000 3,116,432
______________
4,015,108
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Short-term securities (continued)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable at
date of maturity
purchase
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C>
Commercial paper (2.3%)
Eiger Capital
03-14-94 3.10% $6,000,000 (j) $ 5,993,305
Fleet Funding
03-09-94 3.09 2,100,000 (j) 2,098,563
Gateway Fuel
03-29-94 3.38 6,555,000 6,537,819
Gillette
03-01-94 3.50 1,500,000 (j) 1,500,000
Goldman Sachs
03-25-94 3.08 4,000,000 3,991,840
Merrill Lynch
03-02-94 3.25 1,400,000 1,399,874
Penney (JC) Funding
03-03-94 3.06 900,000 899,847
03-04-94 3.06 2,300,000 2,299,415
Pennsylvania Power & Light
03-02-94 3.08 1,000,000 999,915
03-17-94 3.10 2,100,000 2,096,670
Sandoz
03-04-94 3.08 2,700,000 2,699,309
USAA Capital
03-18-94 3.08 4,300,000 4,293,786
Unilever Capital
03-08-94 3.06 5,000,000 (j) 4,997,035
______________
39,807,378
_____________________________________________________________________________________________________________________________
Total short-term securities
(Cost: $43,822,942) $ 43,822,486
_____________________________________________________________________________________________________________________________
Total investments in securities of unaffiliated issuers
(Cost: $1,669,984,518) $1,747,220,836
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities (Percentages represent value of
IDS Extra Income Fund, Inc. investments compared to net assets)
Feb. 28, 1994
Investments in securities of affiliated issuer (m)
_____________________________________________________________________________________________________________________________
Common stock (0.6%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Leaseway Transportation 721,428 (e) $ 10,641,063
_____________________________________________________________________________________________________________________________
Total investments in securities of affiliated issuer
(Cost: $11,757,778) $ 10,641,063
_____________________________________________________________________________________________________________________________
Total investments in securities
(Cost: $1,681,742,296)(n) $1,757,861,899
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
/TABLE
<PAGE>
PAGE
<TABLE><CAPTION>
Investments in securities
IDS Extra Income Fund, Inc.
Feb. 28, 1994
_____________________________________________________________________________________________________________________________
Notes to investments in securities
_____________________________________________________________________________________________________________________________
(a) Securities are valued by procedures described in Note 1 to the financial statements.
(b) Adjustable rate mortgage; interest rate varies to reflect current market conditions; shown is the effective rate
on Feb. 28, 1994.
(c) Security is partially or fully on loan. See Note 5 to the financial statements.
(d) Represents a security sold under Rule 144A which is exempt from registration under the Securities Act of 1933, as
amended. This security has been determined to be liquid under guidelines established by the board of directors.
(e) Presently non-income producing. For long-term debt securities, item identified is in default as to payment of
interest and/or principal.
(f) Identifies issues considered to be illiquid (see Note 4 to the financial statements). Information concerning such
security holdings at Feb. 28, 1994, is as follows:
Acquisition
Security date Cost
___________________________________________________________________________________________
<S> <C> <C>
Anacomp
$8.25 08-20-92 $ 1,737,500
12.25% 1997 08-25-92 4,152,438
Color Tile
13% Pfd 08-12-92 5,000,000
ECM Funding LP
11.918% 2002 04-13-92 4,522,662
GND Holdings
Jr Sub Nt
6.18% 1999 04-14-92 2,224,487
6.18% 1999 11-03-93 492,252
Hat Brand
Warrants 09-03-92 --
K-III Communications
Pay-in-Kind Sr Exchangeable 02-05-93 7,999,990
Pay-in-Kind Sr Exchangeable 04-14-93 203,060
Pay-in-Kind Sr Exchangeable 07-14-93 238,431
Pay-in-Kind Sr Exchangeable 10-15-93 245,360
Pay-in-Kind Sr Exchangeable 01-12-94 253,662
PG Partners LP
12% 1998 06-02-93 623,978
13.60% 1998 06-02-93 301,687
Warrants 06-02-93 1,319,114
Southdown
Warrants 10-30-91 150,000
TransDigm
13% Sr Secured Nts 2000 09-29-93 3,680,000
13% Sr Secured Nts 2000 02-16-94 1,920,000
Warrants 09-29-93 320,000
Warrants 02-16-94 160,000
Triangle
13.50% Sr Nts 2002 01-13-92 12,998,700
Warrants 01-13-92 1,300
/TABLE
<PAGE>
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<TABLE><CAPTION>
Investments in securities
IDS Extra Income Fund, Inc.
Feb. 28, 1994
_____________________________________________________________________________________________________________________________
Notes to investments in securities (continued)
_____________________________________________________________________________________________________________________________
Acquisition
Security date Cost
___________________________________________________________________________________________
<S> <C> <C>
WestFed Holdings
Pay-in-Kind Cm Sr 04-01-91 $55,450
Pay-in-Kind Cm Sr 06-14-91 56,500
Pay-in-Kind Cm Sr 09-18-91 34,530
Pay-in-Kind Cm Sr 12-18-91 17,595
Pay-in-Kind Cm Sr 03-20-92 17,925
Pay-in-Kind Cm Sr 06-19-92 18,255
Pay-in-Kind Cm Sr 09-15-92 12,400
Pay-in-Kind Cm Sr 12-18-92 12,630
Pay-in-Kind Cm Sr 03-08-93 12,860
Pay-in-Kind Cm Sr 06-11-93 3,933
(g) For zero coupon bonds, the interest rate disclosed represents the annualized effective yield on the date of
acquisition.
(h) Foreign security values are stated in U.S. dollars; principal amounts are denominated in the currency indicated.
(i) Presently negligible market value.
(j) Commercial paper sold within terms of a private placement memorandum, exempt from registration under Section 4(2) of
the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited
investors." This security has been determined to be liquid under guidelines established by the board of directors.
(k) Interest rate varies to reflect current market conditions; rate shown is the effective rate on Feb. 28, 1994.
(l) Inverse floaters represent securities which pay interest at a rate that increases (decreases) with a decline (increase) in
the LIBOR (London InterBank Offering Rate) Index. Interest rate disclosed is the rate in effect on Feb. 28, 1994.
(m) Investments representing 5% or more of the outstanding voting securities of the issuer.
(n) At Feb. 28, 1994, the cost of securities for federal income tax purposes was approximately $1,677,984,000 and the
approximate aggregate gross unrealized appreciation and depreciation based on that cost was:
<S> <C>
Unrealized appreciation $129,021,000
Unrealized depreciation (49,143,000)
___________________________________________________________________________________________
Net unrealized appreciation $ 79,878,000
___________________________________________________________________________________________
/TABLE
<PAGE>
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IDS Extra Income Fund, Inc.
Directors and officers
Directors and officers of the fund
_____________________________________________________________________________
President and interested director
William R. Pearce
President of all funds in the IDS MUTUAL FUND GROUP.
______________________________________________________________________________
Independent directors
Lynne V. Cheney
Distinguished fellow, American Enterprise Institute for
Public Policy Research.
Robert F. Froehlke
Former president of all funds in the IDS MUTUAL FUND GROUP.
Donald M. Kendall
Former chairman and chief executive officer, PepsiCo, Inc.
Melvin R. Laird
Senior counsellor for national and international affairs,
The Reader's Digest Association, Inc.
Lewis W. Lehr
Former chairman and chief executive officer,
Minnesota Mining and Manufacturing Company (3M).
Edson W. Spencer
Former chairman and chief executive officer, Honeywell, Inc.
Wheelock Whitney
Chairman, Whitney Management Company
________________________________________________________________________
Interested director who is a partner in a law firm that has represented
an IDS subsidiary
Anne P. Jones
Partner, law firm of Sutherland, Asbill & Brennan.
________________________________________________________________________
Interested directors who are officers and/or employees of IDS
William H. Dudley
Executive vice president, IDS.
David R. Hubers
president and chief executive officer, IDS.
John R. Thomas
Senior vice president, IDS.
________________________________________________________________________
Other officer
Leslie L. Ogg
Vice president of all funds in the IDS MUTUAL FUND GROUP and general
counsel and treasurer of the publicly offered funds.<PAGE>
PAGE
IDS mutual funds
Cash equivalent investments
These money market funds have three main goals: conservation of
capital, constant liquidity and the highest possible current income
consistent with these objectives. Very limited risk.
IDS Cash Management Fund
Invests in such money market securities as high quality commercial
paper, bankers' acceptances, certificates of deposit (CDs) and
other bank securities.
(icon of) piggy bank
IDS Tax-Free Money Fund
Invests primarily in short-term bonds and notes issued by state and
local governments to seek high current income exempt from federal
income taxes.
(icon of) shield with piggy bank enclosed
Income investments
The funds in this group invest their assets primarily in corporate
bonds or government securities to seek interest income.
Secondary objective is capital growth. Risk varies by bond quality.
IDS Global Bond Fund
Invests primarily in debt securities of U.S. and foreign issuers to
seek high total return through income and growth of capital.
(icon of) globe
IDS Extra Income Fund
Invests mainly in long-term, high-yielding corporate fixed income
securities in the lower rated, higher risk bond categories to seek
high current income. Secondary objective is capital growth.
(icon of) cornucopia<PAGE>
PAGE
IDS Bond Fund
Invests mainly in corporate bonds, at least 50% in the higher rated,
lower risk bond categories, or the equivalent, and in government bonds.
(icon of) greek column
IDS Strategy, Income Fund
Invests primarily in corporate and government bonds to seek high
current income while conserving capital. Also may seek capital
appreciation when consistent with its primary goals.
(icon of) chess piece
IDS Selective Fund
Invests in high quality corporate bonds and other highly rated debt
instruments including government securities and short-term
investments. Seeks current income and preservation of capital.
(icon of) skyline
IDS Federal Income Fund
Invests primarily in securities issued or guaranteed as to the timely
payment of principal and interest by the U.S. government, its agencies
and instrumentalities. Seeks a high level of current income and
safety of principal consistent with its type of investments.
(icon of) federal building
IDS Strategy, Short-Term Income Fund
Invests primarily in short-term and intermediate-term bonds and notes
to seek a high level of current income.
(icon of) chess piece
Tax-exempt income investments
These funds provide tax-free income by investing in municipal bonds.
The income is generally free from federal income tax. Risk varies
by bond quality.
IDS High Yield Tax-Exempt Fund
Invests primarily in medium- and lower-quality municipal bonds and
notes. Lower-quality securities generally involve greater risk of
principal and income.
(icon of) shield with basket of apples enclosed<PAGE>
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IDS State Tax-Exempt Funds
(CA, MA, MI, MN, NY, OH)
Invests primarily in high- and medium-grade municipal securities
to provide income to residents of each respective state that is
exempt from federal, state and local income taxes. (New York
is the only state that is exempt at the local level.)
(icon of) shield with U.S. enclosed
IDS Tax-Exempt Bond Fund
Invests mainly in bonds and notes of state or local government
units, with at least 75% in the four highest-rated, lowest risk bond
categories.
(icon of) shield with Greek column
IDS Insured Tax-Exempt Fund
Invests primarily in municipal securities that are insured as to
the timely payment of principal and interest. The insurance
feature minimizes credit risk of the fund but does not guarantee
the market value of the fund's shares.
(icon of) shield with eagle head
Growth and income investments
These funds focus on securities of medium to large, well-established
companies that offer long-term growth of capital and reasonable income
from dividends and interest. Moderate risk.
IDS International Fund
Invests primarily in common stocks of foreign companies that offer
potential for superior growth. The Fund may invest up to 20%
of its assets in the U.S. market.
(icon of) three flags
IDS Strategy, Worldwide Growth Fund
Invests primarily in commonon stocks of companies throughout the world
that offer potential for superior growth. Holdings may range from
small- to large- capitalization stocks, including those of companies
involved in areas of rapid economic growth.
(icon of) chess piece
IDS Managed Retirement Fund
Invests in a combination of common stocks, fixed-income
investments and money market securities to seek a maximum total
return through a combination of growth of capital and current income.
(icon of) bird in a nest
<PAGE>
PAGE
IDS Equity Plus Fund
Invests primarily in a combination of moderate growth stocks,
higher-yielding equities and bonds. Seeks growth of
capital and income.
(icon of) three apple trees
IDS Blue Chip Advantage Fund
Invests in selected stocks from a major market index. Securities
purchased are those recommended by IDS research analysts as the
best from each industry represented on the index. Offers potential
for long-term growth as well as dividend income.
(icon of) ribbon
IDS Stock Fund
Invests in common stocks of companies representing many
sectors of the economy. Seeks current income and growth of capital.
(icon of) building with columns
IDS Strategy, Equity Fund
Invests primarily in undervalued common stocks that offer potential
for growth of capital and income.
(icon of) chess piece
IDS Utilities Income Fund
Invests primarily in the stocks of public utility companies to seek
high current income and growth of income and capital with reduced
volatility.
(icon of) electrical cord
IDS Diversified Equity Income Fund
Invests primarily in high-yielding common stocks to seek high current
income and, secondarily, to benefit from the growth potential offered
by stock investments.
(icon of) four puzzle pieces
IDS Mutual
Invests in a balance between common stocks and senior securities
(preferred stocks and bonds). Seeks a balance of growth of capital
and current income.
(icon of) scale of justice<PAGE>
PAGE
Growth investments
Funds in this group seek capital growth, primarily from common stocks.
They are high risk mutual funds with a potential for high reward.
IDS Discovery Fund
Invests in small- and medium-size, growth-oriented companies
emphasizing technological innovation and productivity enhancement.
Buys and holds larger growth-oriented stocks.
(icon of) ship
IDS Strategy, Aggressive Equity Fund
Invests primarily in common stocks of companies that are selected
for their potential for above-average growth. Above-average means
that their growth potential is better, in the opinion of the
portfolio's investment manager, than the Standard & Poor's
Corporation (S&P) 500 Stock Index.
(icon of) chess piece
IDS Growth Fund
Invests primarily in companies that have above-average potential
for long-term growth as a result of new management, marketing
opportunities or technological superiority.
(icon of) flower
IDS Global Growth Fund
Invests in stocks of companies throughout the world that are
positioned to meet market needs in a changing world economy.
These companies offer above-average potential for long-term growth.
(icon of) world
IDS New Dimensions Fund
Invests primarily in companies with significant growth
potential due to superiority in technology, marketing or management.
The fund frequently changes its industry mix.
(icon of) dimension
IDS Progressive Fund
Invests primarily in undervalued common stocks. The fund holds
stocks for the long term with the goal of capital growth.
(icon of) shooting star
Specialty growth investment
This fund aggressively seeks capital growth as a hedge against inflation.
<PAGE>
PAGE
IDS Precious Metals Fund
Invests primarily in the securities of foreign or domestic companies
that explore for, mine and process or distribute gold and other
precious metals. This is the most aggressive and most speculative
IDS mutual fund.
(icon of) cart of precious gems
For more complete information about any of these funds, including
charges and expenses, you can obtain a prospectus by contacting your
financial planner or writing to IDS Shareholder Service,
P.O. Box 534, Minneapolis, MN 55440-0534. Read it carefully before
you invest or send money.
<PAGE>
PAGE
Quick telephone reference
IDS Telephone Transaction Service
Redemptions and exchanges, dividend payments or reinvestments and
automatic payment arrangements
National/Minnesota:
800-437-3133
Mpls./St. Paul area:
671-3800
IDS Shareholder Service
Fund performance, objectives and account inquiries
612-671-3733
TTY Service
For the hearing impaired
800-846-4852
IDS Infoline
Automated account information (TouchTone phones only), including current
fund prices and performance, account values and recent account
transactions
National/Minnesota:
800-272-4445
Mpls./St. Paul area:
671-1630
Your IDS financial planner
AN AMERICAN EXPRESS COMPANY
1894 IDS 1994
A CENTURY OF INVESTING IN THE FUTURE
IDS Extra Income Fund
IDS Tower 10
Minneapolis, MN 55440-0010
