<PAGE>
1993
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1
TO ANNUAL REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1993
Commission file number 1-9117
INLAND STEEL INDUSTRIES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 36-3425828
(State of Incorporation) (I.R.S. Employer Identification No.)
30 West Monroe Street, 60603
Chicago, Illinois (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (312) 346-0300
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<PAGE>
AMENDMENT NO. 1
The undersigned registrant hereby amends the following items, financial
statements, exhibits or other portions of its Annual Report for 1993 on Form
10-K:
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
(A) DOCUMENTS FILED AS A PART OF THIS REPORT.
1. CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY. The consolidated
financial statements listed below are set forth in the Company's Annual
Report to Stockholders for the fiscal year ended December 31, 1993, and are
incorporated by reference in Item 8 of this Annual Report on Form 10-K.
Report of Independent Accountants dated February 23, 1994.
Statement of Accounting and Financial Policies.
Consolidated Statements of Operations and Reinvested Earnings for the
three years ended December 31, 1993.
Consolidated Statement of Cash Flows for the three years ended
December 31, 1993.
Consolidated Balance Sheet at December 31, 1993 and 1992.
Schedules to Consolidated Financial Statements at December 31, 1993
and 1992, relating to:
Investments and Advances.
Property, Plant and Equipment.
Long-Term Debt.
Notes to Consolidated Financial Statements.
2. FINANCIAL STATEMENT SCHEDULES OF THE COMPANY.
Report of Independent Accountants on Financial Statement Schedules dated
February 23, 1994. (Included on page 27 of this Report)
Consent of Independent Accountants. (Included on page 27 of this Report)
For the years ended December 31, 1993, 1992 and 1991:
Schedule III -- Condensed Financial Information (Parent Company Only).
(Included on pages 28 to 30, inclusive, of this Report)
Schedule V -- Property, Plant and Equipment. (Included on page 31 of
this Report)
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Schedule VI -- Reserve for Depreciation, Amortization and Depletion of
Property, Plant and Equipment. (Included on page 32 of this Report)
Schedule VIII -- Reserves. (Included on page 33 of this Report)
Schedule IX -- Short-Term Borrowings. (Included on page 34 of this Report)
Schedule X -- Supplementary Profit and Loss Information. (Included on
page 35 of this Report)
3. CONSOLIDATED FINANCIAL STATEMENTS OF INLAND MATERIALS DISTRIBUTION GROUP,
INC.
The consolidated financial statements listed below are set forth in
Appendix A on pages A-1 to A-13 inclusive, of this Report.
Report of Independent Accountants dated February 23, 1994. (Page A-2)
Consolidated Statements of Operations and Reinvested Earnings for the
three years ended December 31, 1993. (Page A-3)
Consolidated Statement of Cash Flows for the three years ended
December 31, 1993. (Page A-4)
Consolidated Balance Sheet at December 31, 1993 and 1992. (Page A-5)
Statement of Accounting and Financial Policies. (Page A-6)
Notes to Consolidated Financial Statements. (Pages A-7 to A-13,
inclusive)
4. EXHIBITS. The exhibits required to be filed by Item 601 of Regulation S-K
are listed under the caption "Exhibits" below.
(B) REPORTS ON FORM 8-K.
No reports on Form 8-K were filed by the Company during the quarter ended
December 31, 1993.
(C) EXHIBITS.
See Index to Exhibits included herewith.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
INLAND STEEL INDUSTRIES, INC.
(Registrant)
By: /s/ Earl L. Mason
-----------------------------------
Earl L. Mason
Vice President and Chief
Financial Officer
Date: June 28, 1994
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<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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<C> <S> <C>
3.(i) Copy of Certificate of Incorporation, as amended, of
the Company. (Filed as Exhibit 4-A to the Company's
Quarterly Report on Form 10-Q for the quarter ended
March 31, 1991, and incorporated by reference herein.) --
3.(ii) Copy of By-laws, as amended, of the Company. (Filed as
Exhibit 3-B to the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 1992, and
incorporated by reference herein.) --
4.A Copy of Certificate of Designations, Preferences and
Rights of Series A $2.40 Cumulative Convertible
Preferred Stock of the Company. (Filed as part of
Exhibit B to the definitive Proxy Statement of Inland
Steel Company dated March 21, 1986 that was furnished
to stockholders in connection with the annual meeting
held April 23, 1986, and incorporated by reference
herein.) --
4.B Copy of Certificate of Designation, Preferences and
Rights of Series D Junior Participating Preferred Stock
of the Company. (Filed as Exhibit 4-D to the Company's
Annual Report on Form 10-K for the fiscal year ended
December 31, 1987, and incorporated by reference herein.) --
4.C Copy of Rights Agreement, dated as of November 25, 1987,
as amended and restated as of May 24, 1989, between the
Company and The First National Bank of Chicago, as Rights
Agent (Harris Trust and Savings Bank, as successor Rights
Agent). (Filed as Exhibit 1 to the Company's Current
Report on Form 8-K filed on May 24, 1989, and incorporated
by reference herein.) --
4.D Copy of Certificate of Designations, Preferences and
Rights of Series E ESOP Convertible Preferred Stock of
the Company. (Filed as Exhibit 4-F to the Company's
Quarterly Report on Form 10-Q for the quarter ended June
30, 1989, and incorporated by reference herein.) --
4.E Copy of Certificate of Designations, Preferences and
Rights of Series F Exchangeable Preferred Stock of the
Company. (Filed as Exhibit 4(b) to the Company's Current
Report on Form 8-K filed on December 18, 1989, and
incorporated by reference herein.) *
</TABLE>
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* Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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4.F Copy of Certificate of Designations of Series G $4.625
Cumulative Convertible Exchangeable Preferred Stock of
the Company. (Filed as Exhibit 2.8 to the Company's
Registration Statement on Form 8-A filed on March 25,
1991, and incorporated by reference herein.) --
4.G Copy of Indenture dated as of December 15, 1992, between
the Company and Harris Trust and Savings Bank, as Trustee,
respecting the Company's $150,000,000 12 3/4% Notes due
December 15, 2002. (Filed as Exhibit 4-G to the Company's
Annual Report on Form 10-K for the fiscal year ended
December 31, 1992, and incorporated by reference herein.) --
4.H Mortgage indenture, dated April 1, 1928, between Inland
Steel Company (The "Steel Company") and First Trust and
Savings Bank and Melvin A. Traylor, as Trustees, and of
supplemental indentures thereto, to and including the
Thirty-Second Supplemental Indenture, incorporated by
reference from the following Exhibits: (i) Exhibits
B-1(a), B-1(b), B-1(c), B-1(d) and B-1(e), filed with
Steel Company's Registration Statement on Form A-2
(No. 2-1855); (ii) Exhibits D-1(f) and D-1(g), filed
with Steel Company's Registration Statement on Form E-1
(No. 2-2182); (iii) Exhibit B-1(h), filed with Steel
Company's Current Report on Form 8-K dated January 18,
1937; (iv) Exhibit B-1(i), filed with Steel Company's
Current Report on Form 8-K, dated February 8, 1937;
(v) Exhibits B-1(j) and B-1(k), filed with Steel
Company's Current Report on Form 8-K for the month of
April, 1940; (vi) Exhibit B-2, filed with Steel Company's
Registration Statement on Form A-2 (No. 2-4357); (vii)
Exhibit B-1(l), filed with Steel Company's Current Report
on Form 8-K for the month of January, 1945; (viii) Exhibit
1, filed with Steel Company's Current Report on Form 8-K
for the month of November, 1946; (ix) Exhibit 1, filed
with Steel Company's Current Report on Form 8-K for the
months of July and August, 1948; (x) Exhibits B and C,
filed with Steel Company's Current Report on Form 8-K for
the month of March, 1952; (xi) Exhibit A, filed with Steel
Company's Current Report on Form 8-K for the month of July,
1956; (xii) Exhibit A, filed with Steel Company's Current
Report on Form 8-K for the month of July, 1957; (xiii)
Exhibit B, filed with Steel Company's Current Report on
Form 8-K for the month of January, 1959; (xiv) the Exhibit
filed with Steel Company's Current Report on Form 8-K for
the month of December, 1967; (xv) the Exhibit filed with
Steel Company's Current Report on Form 8-K for the month of
April, 1969; (xvi) the Exhibit filed with Steel Company's
Current Report on Form 8-K for the month of July, 1970;
(xvii) the Exhibit filed with the amendment on Form 8 to
Steel Company's Current Report on Form 8-K for the month of
April, 1974; (xviii) Exhibit B, filed with Steel Company's
Current Report on Form 8-K for the month of September, 1975;
(xix) Exhibit B, filed with Steel Company's Current Report
on Form 8-K for the month of January, 1977; (xx) Exhibit C,
filed with Steel Company's Current Report on Form 8-K for
the month of February, 1977; (xxi) Exhibit B, filed with
Steel Company's Quarterly Report on Form 10-Q for the
</TABLE>
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EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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<C> <S> <C>
quarter ended June 30, 1978; (xxii) Exhibit B, filed with
Steel Company's Quarterly Report on Form 10-Q for the quarter
ended June 30, 1980; (xxiii) Exhibit 4-D, filed with Steel
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1980; (xxiv) Exhibit 4-D, filed with Steel
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1982; (xxv) Exhibit 4-E, filed with Steel
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1983; (xxvi) Exhibit 4(i) filed with
the Steel Company's Registration Statement on Form S-2 (No.
33-43393); and (xxvii) Exhibit 4 filed with Steel Company's
Current Report on form 8-K dated June 23, 1993 --
4.I Copy of consolidated reprint of First Mortgage Indenture,
dated April 1, 1928, between Inland Steel Company and
First Trust and Savings Bank and Melvin A. Traylor, as
Trustees, as amended and supplemented by all supplemental
indentures thereto, to and including the Thirteenth
Supplemental Indenture. (Filed as Exhibit 4-E to Form S-1
Registration Statement No. 2-9443, and incorporated by
reference herein.) --
[The registrant hereby agrees to provide a copy of any
other agreement relating to long-term debt at the request
of the Commission.]
10A* Copy of Inland Steel Industries, Inc. Annual Incentive
Plan, as amended. **
10.B* Copy of Inland Steel Industries, Inc. Special Achievement
Award Plan. (Filed as Exhibit 10-I to the Company's Annual
Report on Form 10-K for the fiscal year ended December 31,
1987, and incorporated by reference herein.) --
10.C* Copy of Inland 1975 Executive Stock Option Plan, as amended.
(Filed as Exhibit 10-A to the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 1987, and
incorporated by reference herein.) --
10.D* Copy of Inland 1984 Incentive Stock Plan, as amended. **
10.E* Copy of Inland 1988 Incentive Stock Plan, as amended. **
10.F* Copy of Inland 1992 Incentive Stock Plan, as amended. **
10.G* Copy of Inland Steel Industries Non-Qualified Thrift Plan,
as amended. (Filed as Exhibit 10-H to the Company's Annual
Report on Form 10-K for the fiscal year ended December 31,
1989, and incorporated by reference herein.) --
</TABLE>
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* Management contract or compensatory plan or arrangement required to be filed
as an exhibit to the Company's Annual Report on Form 10-K
**Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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<PAGE>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
- --------- ----------- ---------
10.H* Copy of Inland 1992 Stock Plan for Non-Employee Directors.
(Filed as Exhibit B to the Company's definitive Proxy
Statement dated March 16, 1992 that was furnished to
stockholders in connection with the annual meeting held
April 22, 1992, and incorporated by reference herein.) --
10.I* Copy of Inland Steel Industries Supplemental Retirement
Benefit Plan for Covered Employees, as amended. **
10.J* Copy of Inland Steel Industries Special Retirement
Benefit Plan for Covered Employees, as amended. **
10.K* Copy of the Inland Steel Industries Deferred Compensation
Plan for Certain Employees. (Filed as Exhibit 10-K to the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1989, and incorporated by reference
herein.) --
10.L* Copy of Inland Steel Industries Deferred Compensation
Plan for Directors, as amended. (Filed as Exhibit 10-L to
the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1992, and incorporated by
reference herein.) --
10.M* Copy of Inland Steel Industries Director Retirement
Plan. **
10.N* Copy of Outside Directors Accident Insurance Policy.
(Filed as Exhibit 10-F to Inland Steel Company's Annual
Report on Form 10-K for the fiscal year ended December
31, 1983, and incorporated by reference herein.) --
10.O.(1)* Copy of form of Severance Agreement dated June 28, 1989
between the Company and each of the seven executive
officers of the Company identified on the exhibit
relating to terms and conditions of termination of
employment following a change in control of the Company.
(Filed as Exhibit 10-O-(1) to the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 1989,
and incorporated by reference herein.) --
10.O.(2)* Amended listing of executive officers of the Company who
are parties to the form of Severance Agreement dated
June 28, 1989 in Exhibit 10.O.(1) hereof. **
10.O.(3)* Copy of Severance Agreement dated June 28, 1989 between
the Company and Judd R. Cool. (Filed as Exhibit 10-O-(2)
to the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 1989, and incorporated
by reference herein.) --
- ---------------
* Management contract or compensatory plan or arrangement required to be filed
as an exhibit to the Company's Annual Report on Form 10-K.
**Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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<PAGE>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
- --------- ----------- ----------
10.O.(4)* Copy of Severance Agreement dated September 4, 1990
between the Company and H. William Howard. (Filed as
Exhibit 10-M-(5) to the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 1990, and
incorporated by reference herein.) --
10.O.(5)* Copy of Severance Agreement dated June 26, 1991 between
the Company and Earl L. Mason. (Filed as Exhibit 10-X to
the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1991, and incorporated by reference
herein.) --
10.O.(6)* Copy of Severance Agreement dated November 27, 1991
between the Company and Maurice S. Nelson, Jr. (Filed
as Exhibit 10-O-(6) to the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 1992,
and incorporated by reference herein.) --
10.O.(7)* Copy of Severance Agreement dated August 17, 1992
between the Company and Olivia M. Thompson. (Filed as
Exhibit 10-O-(7) to the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 1992, and
incorporated by reference herein.) --
10.O.(8)* Copy of Severance Agreement dated March 23, 1994 between
the Company and Vicki L. Avril. **
10.P.(1)* Copy of letter to Judd R. Cool dated September 2, 1987
relating to terms and conditions of employment. (Filed as
Exhibit 10-K to the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 1987, and
incorporated by reference herein.) --
10.P.(2)* Copy of letter agreement dated November 23, 1987 between
the Company and Judd R. Cool. (Filed as Exhibit 10-L to
the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1987, and incorporated by
reference herein.) --
10.P.(3)* Copy of letter agreement dated December 10, 1993 between
the Company and Judd R. Cool restating certain provisions
of the September 2, 1987 and November 23, 1987 letters in
Exhibits 10.P.(1) and (2). **
10.Q* Copy of letter to H. William Howard dated July 17, 1990
relating to terms and conditions of employment. (Filed
as Exhibit 10-P to the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 1990, and
incorporated by reference herein.) --
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* Management contract or compensatory plan or arrangement required to be filed
as an exhibit to the Company's Annual Report on Form 10-K
**Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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<CAPTION>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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<C> <S> <C>
10.R* Copy of letter to Earl L. Mason dated May 17, 1991
relating to terms and conditions of employment. (Filed
as Exhibit 10-W to the Company's Quarterly Report on
Form 10-Q for the quarter ended June 30, 1991, and
incorporated by reference herein.) --
10.S* Copy of letter to Maurice S. Nelson, Jr. dated March 26,
1993 relating to supplemental pension arrangement. (Filed
as Exhibit 10-S to the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 1992, and
incorporated by reference herein.) --
10.T* Copy of Letter of Credit with respect to the Supplemental
and Special Retirement Benefit Plan obligations of the
Company to W. Gordon Kay. **
10.U* Copy of letter to Olivia M. Thompson dated June 24, 1992
relating to terms and conditions of employment. (Filed as
Exhibit 10-T to the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 1992, and
incorporated by reference herein.) --
10.V Copy of Stock Purchase Agreement, dated as of July 7, 1989,
between the Company and Harris Trust and Savings Bank, as
ESOP Trustee. (Filed as Exhibit 4-G to the Company's
Quarterly Report on Form 10-Q for the quarter ended June
30, 1989, and incorporated by reference herein.) --
10.W.(1) Copy of Letter Agreement dated December 18, 1989 among
the Company, Nippon Steel Corporation and NS Finance III,
Inc. (an indirectly wholly owned subsidiary of Nippon Steel
Corporation) relating to sale to NS Finance III, Inc. of
185,000 shares of Series F Exchangeable Preferred Stock of
the Company. (Filed as Exhibit 4(b) to the Company's Current
Report on Form 8-K filed on December 18, 1989, and
incorporated by reference herein.) --
10.W.(2) Copy of Steel Technology Agreement dated as of July 14, 1989
between Inland Steel Company and Nippon Steel Corporation
relating to technology sharing between the signatories.
(Filed as Exhibit 10-S-(2) to the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 1989, and
incorporated by reference herein.) --
10.W.(3) Copy of Basic Agreement dated as of July 21, 1987 between
the Company and Nippon Steel Corporation relating to the
I/N Tek joint venture. (Filed as Exhibit 10-S-(3) to the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1989, and incorporated by reference
herein.) --
</TABLE>
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* Management contract or compensatory plan or arrangement required to be filed
as an exhibit to the Company's Annual Report on Form 10-K
**Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
-8-
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EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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10.W.(4) Copy of Partnership Agreement dated as of July 21, 1987
between ISC Tek, Inc. (an indirectly wholly owned subsidiary
of the Company) and NS Tek, Inc. (an indirectly wholly owned
subsidiary of Nippon Steel Corporation) relating to the I/N
Tek joint venture. (Filed as Exhibit 10-S-(4) to the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1989, and incorporated by reference
herein.) --
10.W.(5) Copy of Basic Agreement dated as of September 12, 1989
between the Company and Nippon Steel Corporation relating
to the I/N Kote joint venture. (Filed as Exhibit 10-S-(5)
to the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1989, and incorporated by reference
herein.) --
10.W.(6) Copy of Partnership Agreement dated as of September 12, 1989
between ISC Kote, Inc. (an indirectly wholly owned subsidiary
of the Company) and NS Tek, Inc. (an indirectly wholly owned
subsidiary of Nippon Steel Corporation) relating to the I/N
Kote joint venture. (Filed as Exhibit 10-S-(6) to the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1989, and incorporated by reference
herein.) --
10.W.(7) Copy of Substrate Supply Agreement dated as of September
12, 1989 between Inland Steel Company and I/N Kote, an
Indiana general partnership. (Filed as Exhibit 10-S-(7)
to the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1989, and incorporated by reference
herein.) --
10.W.(8) First Amendment to Substrate Supply Agreement dated as of
May 1, 1990 between Inland Steel Company and I/N Kote
relating to the I/N Kote joint venture. (Filed as Exhibit
10-R-(8) to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 1990, and incorporated
by reference herein.) --
10.W.(9) Letter Agreement dated as of May 1, 1990 among I/N Kote,
the Company and Nippon Steel Corporation relating to partner
loans. (Filed as Exhibit 10-R-(9) to the Company's Annual
Report on Form 10-K for the fiscal year ended December 31,
1990, and incorporated by reference herein.) --
10.W.(10) First Amendment to I/N Kote Basic Agreement dated as of
May 1, 1990 between the Company and Nippon Steel Corporation
relating to the I/N Kote joint venture. (Filed as Exhibit
10-R-(10) to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 1990, and incorporated by
reference herein.) --
10.W.(11) Letter Agreement dated as of April 19, 1990 between the
Company and Nippon Steel Corporation relating to capital
contributions to I/N Tek. (Filed as Exhibit 10-R-(11) to
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1990, and incorporated by reference
herein.) --
</TABLE>
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<TABLE>
<CAPTION>
EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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<C> <S> <C>
10.W.(12) Letter Agreement dated April 20, 1990 between ISC Tek,
Inc. (an indirectly wholly owned subsidiary of the Company)
and NS Tek, Inc. (an indirectly wholly owned subsidiary of
Nippon Steel Corporation) relating to amendment of the
partnership agreement of I/N Tek. (Filed as Exhibit 10-R-(12)
to the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1990, and incorporated by reference
herein.) --
10.W.(13) CCM Override Amendment dated as of April 20, 1990 among the
Company; Nippon Steel Corporation; Inland Steel Company;
ISC Tek, Inc.; I/N Tek; NS Sales, Inc.; and NS Tek, Inc.
relating to I/N Tek. (Filed as Exhibit 10-R-(13) to the
Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 1990, and incorporated by reference
herein.) --
10.X Copy of ESOP Stock Purchase Agreement, dated May 30,
1990, between the Company and Harris Trust and Savings
Bank, as ESOP Trustee. (Filed as Exhibit 10-T to the
Company's Quarterly Report on Form 10-Q for the quarter
ended September 30, 1990, and incorporated by reference
herein.) --
10.Y Copy of Inland Steel Industries Thrift Plan ESOP Trust,
dated July 7, 1989, between the Company and Harris Trust
and Savings Bank, as ESOP Trustee. (Filed as Exhibit 10-P
to the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1989, and incorporated by reference
herein.) --
10.Z Letter Agreement dated March 1, 1991 between Nippon Steel
Corporation and the Company regarding Series F Exchangeable
Preferred Stock. (Filed as Exhibit 10-U to the Company's
Annual Report on Form 10-K for the fiscal year ended
December 31, 1990, and incorporated by reference herein.) --
10.AA Letter Agreement dated May 10, 1991 by and between Nippon
Steel Corporation and Inland Steel Industries, Inc.
relating to Letter Agreement dated December 18, 1989.
(Filed as Exhibit 10-V to the Company's Quarterly Report
on Form 10-Q for the quarter ended March 31, 1991, and
incorporated by reference herein.) --
11 Statement of Earnings per Share of Common Stock. *
13 Information incorporated by reference from Annual Report
to Stockholders for the fiscal year ended December 31,
1993. *
</TABLE>
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*Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NO.
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21 List of certain subsidiaries of the Company. *
23 Consent of Independent Accountants, appearing on page 27
of this Annual Report on Form 10-K. --
23.A Consent of Independent Accountants.........................
24 Powers of attorney. *
99 Letter to stockholders of common stock of the Company dated
December 22, 1987 explaining Stockholder Rights Plan adopted
by Board of Directors on November 25, 1987 (Filed as Exhibit
3 to the Company's Current Report on Form 8-K filed on
December 18, 1987, and incorporated by reference herein.) --
99.A Inland Steel Industries Thrift Plan Financial Statements and
Supplemental Schedules for the fiscal year ended December 31,
1993 (Filed as Exhibit 99.A to the Company's Form SE filed on
June 29, 1994, and incorporated by reference herein.) --
</TABLE>
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*Previously included in Registrant's Annual Report on Form 10-K for 1993, as
originally filed.
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<PAGE>
EXHIBIT 23.A
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 (No. 33-32504) and Post-Effective Amendment No. 1 to Form
S-8 Registration Statement (No. 33-1329) of Inland Steel Industries, Inc. of our
report dated June 28, 1994 appearing on pages 1-2 of Exhibit 99.A to the 1993
Annual Report on Form 10-K of Inland Steel Industries, Inc., filed with this
Form 10K/A.
/s/ Price Waterhouse
PRICE WATERHOUSE
Chicago, Illinois
June 28, 1994
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