ATLANTIC RICHFIELD CO /DE
10-K405/A, 1999-03-17
PETROLEUM REFINING
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<PAGE>
 
                                      1998
 
                               ----------------
 
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
 
                                  FORM 10-K/A
                                 March 17, 1999
 
Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
[No Fee Required]
 
For the fiscal year ended December 31, 1998       Commission file number 1--1196
 
                                [LOGO OF ARCO]
 
                           Atlantic Richfield Company
             (Exact name of registrant as specified in its charter)
 
                 Delaware                              23-0371610
     (State or other jurisdiction of    (I.R.S. Employer Identification No.)
      incorporation or organization)
 
515 South Flower Street, Los Angeles, California          90071
  (Address of principal executive offices)              (Zip Code)
                                                      
 
Registrant's telephone number, including area code: (213) 486-3511
Securities registered pursuant to Section 12(b) of the Act:
 
<TABLE>
<CAPTION>
                                                   Name of each exchange
               Title of each class                  on which registered
               -------------------            -------------------------------
     <S>                                      <C>
     Common Stock ($2.50 par value)           New York Stock Exchange
                                              Pacific Exchange, Inc.
                                              Elektronische Borse Schweiz EBS
                                              London Stock Exchange
     $3.00 Cumulative Convertible Preference  New York Stock Exchange
      Stock ($1 par value)                    Pacific Exchange, Inc.
     $2.80 Cumulative Convertible Preference  New York Stock Exchange
      Stock ($1 par value)                    Pacific Exchange, Inc.
     Twenty year 10 7/8% Debentures Due July
      15, 2005                                New York Stock Exchange
     Thirty year 9 7/8% Debentures Due March
      1, 2016                                 New York Stock Exchange
     Twenty-five year 9 1/8% Debentures Due
      March 1, 2011                           New York Stock Exchange
</TABLE>
 
Securities registered pursuant to Section 12(g) of the Act: None
 
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X . No   .
                                             ---    --- 
 
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. X
               ---
 
The aggregate market value of the voting stock held by nonaffiliates of the
registrant on December 31, 1998, based on the closing price on the New York
Stock Exchange composite tape on that date, was $21,221,156,300.
 
Number of shares of Common Stock, $2.50 par value, outstanding as of December
31, 1998: 321,315,367.
 
                      DOCUMENTS INCORPORATED BY REFERENCE
 
Portions of the registrant's definitive proxy statement, which will be filed
with the Securities and Exchange Commission within 120 days after December 31,
1998 are incorporated by reference under Part III.
<PAGE>
 
                                   SIGNATURES
 
  Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the registrant has duly caused the amendment to this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
 
                                          ATLANTIC RICHFIELD COMPANY
 
                                          By         *Michael E. Wiley
                                            ___________________________________
                                                     Michael E. Wiley
                                                    President and Chief
                                                     Operating Officer
 
 
March 16, 1999
 
  Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
 
<TABLE>
<CAPTION>
             Signature                           Title                  Date
             ---------                           -----                  ----
<S>                                  <C>                           <C>
          *Mike R. Bowlin            Chairman of the Board and     March 16, 1999
____________________________________  Chief Executive Officer
           Mike R. Bowlin
 
         *Marie L. Knowles           Executive Vice President and  March 16, 1999
____________________________________  Chief Financial Officer
          Marie L. Knowles
    Principal financial officer
 
          *Frank D. Boren            Director                      March 16, 1999
____________________________________
           Frank D. Boren
 
            *John Gavin              Director                      March 16, 1999
____________________________________
             John Gavin

            *Kent Kresa              Director                      March 16, 1999
____________________________________
             Kent Kresa
</TABLE>
 
                                       70
<PAGE>
 
<TABLE>
<CAPTION>
             Signature                           Title                  Date
             ---------                           -----                  ----
 
<S>                                  <C>                           <C>
       *David T. McLaughlin          Director                      March 16, 1999
____________________________________
        David T. McLaughlin
 
         *John B. Slaughter          Director                      March 16, 1999
____________________________________
         John B. Slaughter
 
          *Gary L. Tooker            Director                      March 16, 1999
____________________________________
           Gary L. Tooker
 
           *Henry Wendt              Director                      March 16, 1999
____________________________________
            Henry Wendt
 
         *Gayle E. Wilson            Director                      March 16, 1999
____________________________________
          Gayle E. Wilson
 
     /s/ Allan L. Comstock           Vice President and            March 16, 1999
____________________________________  Controller
         Allan L. Comstock
    Principal accounting officer
</TABLE>
 
*By:   /s/ Allan L. Comstock
  ____________________________
       Allan L. Comstock
       (Attorney-in-Fact)

                                       71

<PAGE>
 
                                                                      EXHIBIT 23
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
  We consent to the incorporation by reference in the following registration
statements of Atlantic Richfield Company: Registration Statement on Form S-3
(No. 333-71293), Registration Statement on Form S-8 (No. 333-33151),
Registration Statement on Form S-8 (No. 33-43830), Registration Statement on
Form S-8 (No. 33-21558), Registration Statement on Form S-8 (No. 333-33153),
Registration Statement on Form S-8 (No. 333-26901), Post-Effective Amendment
No. 4 to Registration Statement on Form S-8 (No. 33-21160), Post-Effective
Amendment No. 4 to Registration Statement on Form S-8 (No. 33-23639),
Registration Statement on Form S-8 (No. 333-26901), Post-Effective Amendment
No. 4 to Registration Statement on Form S-8 (No. 33-21162), Post-Effective
Amendment No. 4 to Registration Statement on Form S-8 (No. 33-21553), Post-
Effective Amendment No. 4 to Registration Statement on Form S-8 (No. 33-23640),
Registration Statement on Form S-8 (No. 333-26901), Post-Effective Amendment
No. 4 to Registration Statement on Form S-8 (No. 33-21552), and Registration
Statement on Form S-8 (No. 333-33245), of our report dated February 12, 1999,
on our audits of the consolidated financial statements and financial statement
schedule of Atlantic Richfield Company as of December 31, 1998 and 1997 and for
each of the three years in the period ended December 31, 1998, which report is
included in this Annual Report on Form 10-K/A.
 
                                          PricewaterhouseCoopers LLP
 
Los Angeles, California
March 16, 1999


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