SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 6, 1998
LEHMAN BROTHERS HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-9466 13-3216325
(Commission File Number) (IRS Employer Identification No.)
3 World Financial Center
New York, New York 10285
(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including
area code: (212) 526-7000
<PAGE>
Item 5. Other Events
Revised Earnings Per Share Amounts in Accordance with FASB Statement 128
FASB Statement 128 is effective for financial statements for
periods ended after December 15, 1997, and requires restatement of prior period
information. Therefore, Lehman Brothers Holdings Inc. (the "Registrant") is
filing herewith restated selected financial data for the last five fiscal years,
a computation of basic and diluted earnings per share for the last three fiscal
years and restated selected quarterly financial data for the last two fiscal
years (the "Statement 128 Data").
Copy of the Statement 128 Data follows.
Item 7. Financial Statements and Exhibits
(c) Exhibits
The following Exhibit is filed as part of this Report.
99.1 Statement 128 Data
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
LEHMAN BROTHERS HOLDINGS INC.
By: /s/ Charles B. Hintz
Charles B. Hintz
Chief Financial Officer
(Principal Financial Officer)
Date: April 6, 1998
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EXHIBIT INDEX
Exhibit No. Exhibit
Exhibit 99.1 Statement 128 Data
<PAGE>
Exhibit 99.1 Statement 128 Data
Restated Selected Quarterly Financial Data
<TABLE>
<CAPTION>
1997 1996
---------------------------------------------- -------------------------------------------------
Nov. 30 Aug. 31 May 31 Feb. 28 Nov. 30 Aug. 31 May 31 Feb. 29
------- ------- ------ ------- ------- ------- ------ -------
Earnings per
common share
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Basic $1.34 $1.34 $0.97 $1.18 $0.97 $0.61 $0.90 $0.80
Diluted $1.30 $1.30 $0.95 $1.16 $0.96 $0.60 $0.88 $0.79
</TABLE>
<PAGE>
Restated Selected Financial Data
<TABLE>
<CAPTION>
Twelve Months Eleven Months Twelve Months
ended ended ended
November 30 November 30 December 31
----------------------
1997 1996 1995 1994 1993
---- ---- ---- ---- ----
Per share data
<S> <C> <C> <C> <C> <C>
Basic:
Income (loss) from continuing operations
before cumulative effect of change in
accounting principle $4.84 $3.27 $1.77 $0.81 $(3.20)
Discontinued operations 1.79
Cumulative effect of change in accounting
principle (0.12)
Net income (loss) $4.84 $3.27 $1.77 $0.69 $(1.41)
Diluted:
Income (loss) from continuing operations
before cumulative effect of change in
accounting principle $4.72 $3.24 $1.76 $0.81 $(3.20)
Discontinued operations 1.79
Cumulative effect of change in accounting
principle (0.12)
Net income (loss) $4.72 $3.24 $1.76 $0.69 $(1.41)
</TABLE>
<PAGE>
Computation of Basic and Diluted Earnings Per Share
<TABLE>
<CAPTION>
1997 1996 1995
------------------ ------------------ ------------------
Numerator:
<S> <C> <C> <C>
Net income $647 $416 $242
Preferred stock dividends (75) (38) (42)
------------------ ------------------ ------------------
Numerator for basic and diluted
share - income available to
common stockholders $572 $ 378 $200
================== ================== ==================
Denominator:
Denominator for basic earnings
per share - weighted-average
shares 118,162,896 115,328,262 112,955,340
Effect of dilutive securities:
Employee stock options 1,924,992 911,761 395,074
Common stock equivalents 977,041 488,831 64,270
------------------ ------------------ ------------------
Dilutive potential common shares 2,902,033 1,400,592 459,344
------------------ ------------------ ------------------
Denominator for diluted
earnings per share - adjusted
weighted-average shares 121,064,929 116,728,854 113,414,684
================== ================== ==================
Basic earnings per share $4.84 $3.27 $1.77
================== ================== ==================
Diluted earnings per share $4.72 $3.24 $1.76
================== ================== ==================
</TABLE>
