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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended February 28, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to ____________
Commission file number 1-9466
Lehman Brothers Holdings Inc.
(Exact Name of Registrant As Specified In Its Charter)
Delaware 13-3216325
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
3 World Financial Center
New York, New York 10285
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 526-7000
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 ______
As of March 31, 1998, 118,534,552 shares of the Registrant's Common Stock, par
value $.10 per share, were outstanding.
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<PAGE>
On April 6, 1998, Lehman Brothers Holdings Inc. ("Holdings") filed with the
Securities and Exchange Commission (the "SEC") a Current Report on Form 8-K
which included as Exhibit 99.1 thereto certain restated financial information
resulting from Holdings' adoption of FASB Statement 128. On April 14, 1998,
Holdings filed with the SEC its Quarterly Report on Form 10-Q for the quarterly
period ended February 28, 1998. This amendment to such Form 10-Q has been filed
solely to submit restated Financial Data Schedules for the fiscal year ended
November 30, 1997, the nine month period ended August 31, 1997, the six month
period ended May 31, 1997 and the three month period ended February 28, 1997;
the fiscal year ended November 30, 1996, the nine month period ended August 31,
1996, the six month period ended May 31, 1996 and the three month period ended
February 29, 1996; and the fiscal year ended November 30, 1995.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
LEHMAN BROTHERS HOLDINGS INC.
(Registrant)
Date: May 11, 1998 By: /s/ Jennifer Marre
Jennifer Marre
Vice President
(Duly Authorized Officer)
Date: May 11, 1998 By: /s/ Charles B. Hintz
Charles B. Hintz
Chief Financial Officer
(Principal Financial Officer)
<PAGE>
EXHIBIT INDEX
Exhibit No. Exhibit
Exhibit 27.1 Restated Financial Data Schedules for the fiscal year ended Novem-
ber 30, 1997, the nine month period ended August 31, 1997, the six
month period ended May 31, 1997 and the three month period ended
February 28, 1997
Exhibit 27.2 Restated Financial Data Schedules for the fiscal year ended Novem-
ber 30, 1996, the nine month period ended August 31, 1996, the six
month period ended May 31, 1996 and the three month period ended
February 29, 1996
Exhibit 27.3 Restated Financial Data Schedule for the fiscal year ended Novem-
ber 30, 1995
<TABLE> <S> <C>
<ARTICLE> BD
<LEGEND>
These schedules contain summary restated financial information derived from
Holdings' Consolidated Statements of Financial Condition at, and Consolidated
Statements of Income for the respective periods ended, November 30, 1997, August
31, 1997 (Unaudited), May 31, 1997 (Unaudited) and February 28, 1997 (Unaudited)
and are qualified in their entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<RESTATED>
<S> <C> <C> <C> <C>
<PERIOD-TYPE> YEAR 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> NOV-30-1997 NOV-30-1997 NOV-30-1997 NOV-30-1997
<PERIOD-START> DEC-01-1996 DEC-01-1996 DEC-01-1996 DEC-01-1996
<PERIOD-END> NOV-30-1997 AUG-31-1997 MAY-31-1997 FEB-28-1997
<CASH> 2,834 2,227 3,468 3,547
<RECEIVABLES> 12,838 13,020 9,778 11,879
<SECURITIES-RESALE> 43,606 43,268 40,093 35,019
<SECURITIES-BORROWED> 14,146 16,282 22,085 27,695
<INSTRUMENTS-OWNED> 76,862 71,683 68,309 69,922
<PP&E> 468 468 467 468
<TOTAL-ASSETS> 151,705 147,894 145,118 149,493
<SHORT-TERM> 7,818 8,606 11,089 8,177
<PAYABLES> 13,857 13,598 9,978 9,409
<REPOS-SOLD> 63,204 57,802 57,179 67,221
<SECURITIES-LOANED> 7,846 8,734 6,904 9,279
<INSTRUMENTS-SOLD> 30,080 32,312 34,291 31,151
<LONG-TERM> 20,261 18,904 17,945 17,296
0 0 0 0
508 508 508 508
<COMMON> 12 11 11 11
<OTHER-SE> 4,003 3,784 3,619 3,493
<TOTAL-LIABILITY-AND-EQUITY> 151,705 147,894 145,118 149,493
<TRADING-REVENUE> 1,418 1,061 672 346
<INTEREST-DIVIDENDS> 13,635 9,931 6,377 3,278
<COMMISSIONS> 423 299 188 97
<INVESTMENT-BANKING-REVENUES> 1,318 910 514 240
<FEE-REVENUE> 0 0 0 0
<INTEREST-EXPENSE> 13,010 9,424 6,026 3,074
<COMPENSATION> 1,964 1,445 902 469
<INCOME-PRETAX> 937 672 391 219
<INCOME-PRE-EXTRAORDINARY> 647 462 265 144
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 647 462 265 144
<EPS-PRIMARY> 4.84 3.49 2.15 1.18
<EPS-DILUTED> 4.72 3.41 2.11 1.16
</TABLE>
<TABLE> <S> <C>
<ARTICLE> BD
<LEGEND>
These schedules contain summary restated financial information derived from
Holdings' Consolidated Statements of Financial Condition at, and Consolidated
Statements of Income for the respective periods ended, November 30, 1996, August
31, 1996 (Unaudited), May 31, 1996 (Unaudited) and February 29, 1996 (Unaudited)
and are qualified in their entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<RESTATED>
<S> <C> <C> <C> <C>
<PERIOD-TYPE> YEAR 9-MOS 6-MOS 3-MOS
<FISCAL-YEAR-END> NOV-30-1996 NOV-30-1996 NOV-30-1996 NOV-30-1996
<PERIOD-START> DEC-01-1995 DEC-01-1995 DEC-01-1995 DEC-01-1995
<PERIOD-END> NOV-30-1996 AUG-31-1996 MAY-31-1996 FEB-29-1996
<CASH> 2,837 2,350 2,094 2,213
<RECEIVABLES> 9,944 10,457 11,756 10,107
<SECURITIES-RESALE> 32,340 35,450 43,861 44,094
<SECURITIES-BORROWED> 20,651 24,350 19,295 12,159
<INSTRUMENTS-OWNED> 61,453 51,627 55,284 58,687
<PP&E> 477 473 473 478
<TOTAL-ASSETS> 128,596 125,666 133,725 128,702
<SHORT-TERM> 8,202 7,130 8,004 6,996
<PAYABLES> 8,586 11,412 10,547 9,442
<REPOS-SOLD> 56,119 57,415 65,332 65,627
<SECURITIES-LOANED> 6,296 6,682 4,250 3,872
<INSTRUMENTS-SOLD> 26,364 22,101 25,712 23,485
<LONG-TERM> 15,922 14,214 13,569 13,471
0 0 0 0
508 508 508 508
<COMMON> 11 11 11 11
<OTHER-SE> 3,355 3,222 3,047 3,004
<TOTAL-LIABILITY-AND-EQUITY> 128,596 125,666 133,725 128,702
<TRADING-REVENUE> 1,579 1,114 811 413
<INTEREST-DIVIDENDS> 11,298 8,369 5,405 2,656
<COMMISSIONS> 362 267 190 96
<INVESTMENT-BANKING-REVENUES> 981 671 433 211
<FEE-REVENUE> 0 0 0 0
<INTEREST-EXPENSE> 10,816 8,072 5,208 2,565
<COMPENSATION> 1,747 1,205 839 416
<INCOME-PRETAX> 637 442 327 159
<INCOME-PRE-EXTRAORDINARY> 416 289 212 104
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 416 289 212 104
<EPS-PRIMARY> 3.27 2.30 1.70 0.80
<EPS-DILUTED> 3.24 2.27 1.68 0.79
</TABLE>
<TABLE> <S> <C>
<ARTICLE> BD
<LEGEND>
This schedule contains summary restated financial information derived from
Holdings' Consolidated Statements of Financial Condition at, and Consolidated
Statements of Income for, the year ended November 30, 1995 and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<RESTATED>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> NOV-30-1995
<CASH> 1,819
<RECEIVABLES> 8,170
<SECURITIES-RESALE> 36,234
<SECURITIES-BORROWED> 16,290
<INSTRUMENTS-OWNED> 51,322
<PP&E> 495
<TOTAL-ASSETS> 115,303
<SHORT-TERM> 6,235
<PAYABLES> 8,824
<REPOS-SOLD> 59,035
<SECURITIES-LOANED> 1,966
<INSTRUMENTS-SOLD> 19,854
<LONG-TERM> 12,765
0
708
<COMMON> 11
<OTHER-SE> 2,979
<TOTAL-LIABILITY-AND-EQUITY> 115,303
<TRADING-REVENUE> 1,393
<INTEREST-DIVIDENDS> 10,788
<COMMISSIONS> 450
<INVESTMENT-BANKING-REVENUES> 801
<FEE-REVENUE> 0
<INTEREST-EXPENSE> 10,405
<COMPENSATION> 1,544
<INCOME-PRETAX> 369
<INCOME-PRE-EXTRAORDINARY> 242
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 242
<EPS-PRIMARY> 1.76
<EPS-DILUTED> 1.76
</TABLE>
