SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1993
Commission file number: 001-11015
A. Full title of the Plan and address of the Plan, if different
from that of the issuer named below:
Dial Companies Capital Accumulation Plan
B. Name of issuer of the securities held pursuant to the Plan
and the address of its principal executive office:
THE DIAL CORP
DIAL TOWER
PHOENIX, ARIZONA 85077
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of
1934, the Dial Companies Capital Accumulation Plan Committee has duly caused
this annual report to be signed on its behalf by the undersigned thereunto
duly authorized.
DIAL COMPANIES CAPITAL
ACCUMULATION PLAN
By /s/ Linde Harned
Linde Harned
Committee Chairman
DATE: June 28, 1994
<PAGE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
Financial Statements for the
Years Ended December 31, 1993 and 1992,
Supplemental Schedules for the
Year Ended December 31, 1993 and
Independent Auditors' Report
<PAGE>
INDEPENDENT AUDITORS' REPORT
To the Plan Administrator and
Plan Participants of the
Dial Companies Capital Accumulation Plan:
We have audited the accompanying statements of net assets available for
benefits of the Dial Companies Capital Accumulation Plan (the "Plan") as of
December 31, 1993 and 1992, and the related statements of changes in net
assets available for benefits for the years then ended. These financial
statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based
on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31,
1993 and 1992, and the changes in net assets available for benefits for the
years then ended in conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules on pages
12 and 13 are presented for the purpose of additional analysis and are not a
required part of the basic financial statements, but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. These schedules are the responsibility of the Plan's management. Such
schedules have been subjected to the auditing procedures applied in our audit
of the basic 1993 financial statements and, in our opinion, are fairly
stated, in all material respects when considered in relation to the basic
financial statements taken as a whole.
/s/ Deloitte & Touche
June 14, 1994
<PAGE>
<TABLE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 1993 AND 1992
<CAPTION>
ASSETS 1993 1992
<S> <C> <C>
INVESTMENTS AT FAIR VALUE:
Shares of registered investment companies:
Custom Investment Contract Fund $ 35,597,463 $ 35,127,038
Vanguard Windsor Fund 27,026,272 20,676,997
T. Rowe Price Prime Reserve Fund 4,858,205 4,801,717
T. Rowe Price Equity Index Fund 3,700,863 2,489,922
Vanguard Bond Index Fund 1,606,452 989,852
Bristol-Myers Squibb Fund 286,902 337,990
Common stock:
The Dial Corp Common Stock 21,495,488 20,926,581
GFC Financial Corporation Common Stock 4,288,291 5,341,943
Participant notes receivable 3,494,744 3,182,398
------------ ------------
Total investments 102,354,680 93,874,438
CONTRIBUTIONS RECEIVABLE 166,074 106,592
DIVIDENDS RECEIVABLE 196,832 135,293
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $102,717,586 $ 94,116,323
============ ============
<FN>
See notes to financial statements.
</TABLE>
<PAGE>
<TABLE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEARS ENDED
DECEMBER 31, 1993 AND 1992
<CAPTION>
1993 1992
<S> <C> <C>
ADDITIONS:
Contributions:
Employer - employee wage reductions $ 12,597,852 $ 11,444,712
Employee 193,571 135,538
------------ ------------
Total contributions 12,791,423 11,580,250
------------ ------------
Rollover deposits 491,228
------------ ------------
Transfer of assets 1,841,087
------------ ------------
Investment income:
Dividends:
The Dial Corp common
stock (cash dividend) 589,978 544,414
The Dial Corp common
stock (GFCFC stock dividend) 5,905,065
Other investments 2,647,291 1,323,252
Interest income 2,690,113 3,395,143
Net appreciation in
fair value of investments 2,522,237 3,562,187
------------ ------------
Total investment income 8,449,619 14,730,061
------------ ------------
Total additions 23,082,129 26,801,539
------------ ------------
DEDUCTIONS:
Distributions to participants 8,423,776 14,003,191
Transfer of assets 6,057,090 4,498,690
------------ ------------
Total deductions 14,480,866 18,501,881
------------ ------------
NET INCREASE 8,601,263 8,299,658
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 94,116,323 85,816,665
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $102,717,586 $ 94,116,323
============ ============
<FN>
See notes to financial statements.
</TABLE>
<PAGE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1993 AND 1992
1. DESCRIPTION OF THE PLAN
The following brief description of the Dial Companies Capital
Accumulation Plan (the "Plan") is provided for general information purposes
only. Participants should refer to the Plan agreement for more complete
information.
The Plan, commonly known as Toward Retirement Income Management ("TRIM"),
was established January 1, 1985 and has been amended from time to time since
that date. Employees of The Dial Corp ("Dial") and certain of its
subsidiaries (the "Company") who are not covered by a collective bargaining
agreement are eligible to participate in the Plan after completing at least
1,000 hours of service in a twelve consecutive month period for which they
are paid a regular fixed compensation. Employees are able to contribute to
the Plan by reducing their wages on a pre-tax and after-tax basis, subject to
certain limitations. The Company may also contribute a matching amount,
subject to certain limitations.
The Plan is subject to various regulations, particularly those under the
Internal Revenue Code Section 401(k) and the Employee Retirement Income
Security Act of 1974 ("ERISA").
a. Investment Programs - Receipts of the Plan are invested by the Plan's
trustee, T. Rowe Price, at the designation of the participants. The Plan
offers participants the following funds in which to invest pretax, after-tax
and rollover deposits.
(1) Custom Investment Contract Fund - This fund invests in a diversified
portfolio of Guaranteed Investment Contracts ("GIC") issued by insurance
companies and other financial institutions. Income is earned based upon a
blended interest rate determined by the various investments. The fair value
of the fund represents contract value, which includes contributions made,
plus interest at blended rates, less withdrawals by participants.
(2) Vanguard Windsor Fund - This fund invests in the common stock of other
companies. The fair value of the fund is dependent upon the market value of
the stocks. Any dividends received are reinvested.
(3) T. Rowe Price Prime Reserve Fund - This fund invests in short-term money
market instruments such as certificates of deposit, treasury bills and
corporate notes which earn income based on short-term interest rates. The
fair value of the fund is the cost basis of the investments.
(4) T. Rowe Price Equity Index Fund - This fund invests in the common stock
of other companies. The fair value of the fund is dependent on the market
value of the stocks. The dividends received are reinvested.
(5) Vanguard Bond Index Fund - This fund invests in U.S. government and
corporate bonds and mortgage-backed securities, which earn income based on
interest rates. The fair value of the fund is dependent on the market value
of the investments.
(6) The Dial Corp Common Stock Fund - This fund invests in the common stock
of Dial and any dividends paid on the stock are reinvested in the fund. The
fair value of this fund is dependent upon the fluctuations in the market
value of such stock.
(7) GFC Financial Corporation ("GFCFC") Common Stock Fund - This fund
invests in the common stock of GFCFC and any dividends paid on the stock are
reinvested according to the participants' investment mix, due to this fund
being closed to additional contributions. The fair value of this fund is
dependent upon the fluctuation in the market value of the GFCFC stock.
(8) Participant Notes Receivable - The Plan allows participants to borrow up
to 50% of their vested account balance, subject to certain limitations.
b. Contributions - Voluntary wage reductions may be elected by the employee.
These pre-tax reductions are contributed to the Plan by the Company and may
range from 1% to 12% of compensation. Company matching contributions to the
Plan are at the discretion of each participating company's board of directors
and are contributed to the Dial Companies Employees' Stock Ownership Plan
("ESOP"). The contributions by the Company to the ESOP are based on employee
pre-tax wage reductions up to 100% of the first 3% of wage reduction. Each
employee may elect an after-tax contribution of between 1% and 10% of
compensation. No employer contributions are made based on after-tax
contributions. All contributions are limited to the applicable amounts as
prescribed by the Internal Revenue Code.
c. Distributions of the Plan assets occur upon participant termination from
the Company, financial hardship, disablement, retirement or death.
d. Vesting - All contributions to the Plan are 100% vested and
nonforfeitable at all times.
e. Participant Accounts - For each participant, various accounts are
maintained to record wage reduction contributions, employee contributions,
Company matching contributions and participant rollover deposits transferred
to the Plan. The benefit to which a participant is entitled is the total
benefit which can be provided from the combined amount of these participant
accounts.
f. Plan Administration - The Plan is administered by a committee of at least
three persons appointed by the Chief Executive Officer of the Company.
Expenses incident to the operation of the Plan may be paid by the Plan or
directly by the Company.
g. Plan Termination - While it is the Company's intention to continue the
Plan, the Company has the right to terminate the Plan, provided all employer
contributions, due at the termination date, have been paid.
h. Plan Merger - On March 18, 1992, Dial completed the spin-off (the
"Spin-off") of its wholly-owned subsidiary, GFCFC. In connection with the
Spin-off, one share of GFCFC common stock was distributed for every two
shares of Dial common stock outstanding. GFCFC shares issued as a result of
Dial shares held by the ESOP were subsequently merged into the Plan through
the GFCFC Common Stock Fund.
i. Transfer of Assets - In connection with the Spin-off, GFCFC established a
capital accumulation plan. The participant accounts of employees of GFCFC
who participated in the Plan prior to the Spin-off were transferred to
GFCFC's capital accumulation plan.
On August 12, 1993, the Company sold Motor Coach Industries
International, Inc. ("MCII"). In connection with the sale, MCII established
a capital accumulation plan. The participant accounts of employees of MCII
who participated in the Plan prior to the sale were transferred to MCII's
capital accumulation plan.
In November 1992, the Company acquired Dobbs Hotels. In connection with
this acquisition, participant accounts of employees of Dobbs Hotels' capital
accumulation plan were transferred into the Plan in 1993.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Significant accounting policies are as follows:
a. Basis of Accounting - The financial statements of the Plan are
prepared under the accrual method of accounting.
b. Investment Valuation and Income Recognition - The Plan's investments
are stated at fair value. Shares of registered investment companies are
valued at quoted market prices which represent the net asset value of shares
held by the Plan at year-end. Common stock is valued at its quoted market
price. Purchases and sales of securities are recorded on a trade-date basis.
Interest and dividend income are recorded on the accrual basis.
c. Payment of Benefits - Benefits are recorded when paid.
3. NET ASSETS AND CHANGES THEREIN BY FUND
The following tables present the net assets of the Plan by fund as of
December 31, 1993 and 1992, as well as changes in net assets by fund for the
years then ended.
<PAGE>
<TABLE>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1993 (Displayed in Two Parts)
<CAPTION>
T. Rowe T. Rowe
Custom Price Price Vanguard (Table
Investment Vanguard Prime Equity Bond Continues
Contract Windsor Reserve Index Index Below . . .)
Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value:
Shares of registered
investment
companies:
Custom Investment
Contract Fund $35,597,463
Vanguard Windsor
Fund $27,026,272
T. Rowe Price Prime
Reserve Fund $ 4,858,205
T. Rowe Price Equity
Index Fund $ 3,700,863
Vanguard Bond
Index Fund $ 1,606,452
Bristol-Meyers
Squibb Fund
Common stock:
The Dial Corp
Common Stock
GFCFC Common
Stock
Participant notes
receivable
Receivables:
Contributions
Dividends 21,685
----------- ----------- ----------- ----------- -----------
NET ASSETS
AVAILABLE
FOR BENEFITS $35,597,463 $27,026,272 $ 4,858,205 $ 3,722,548 $ 1,606,452
=========== =========== =========== =========== ===========
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1993 (Continued)
Bristol- The
Meyers Dial Corp GFCFC Parti-
Squibb Common Common cipants
Fund Stock Stock Notes Other Total
ASSETS
Investments at fair value:
Shares of registered
investment
companies:
Custom Investment
Contract Fund $ 35,597,463
Vanguard Windsor
Fund 27,026,272
T. Rowe Price Prime
Reserve Fund 4,858,205
T. Rowe Price Equity
Index Fund 3,700,863
Vanguard Bond
Index Fund 1,606,452
Bristol-Meyers
Squibb Fund $ 286,902 286,902
Common stock:
The Dial Corp
Common Stock $21,495,488 21,495,488
GFCFC Common
Stock $ 4,288,291 4,288,291
Participant notes
receivable $ 3,494,744 3,494,744
Receivables:
Contributions $ 166,074 166,074
Dividends 148,382 26,765 196,832
----------- ----------- ----------- ----------- ----------- ------------
NET ASSETS
AVAILABLE
FOR BENEFITS $ 286,902 $21,643,870 $ 4,315,056 $ 3,494,744 $ 166,074 $102,717,586
=========== =========== =========== =========== =========== ============
</TABLE>
<PAGE>
<TABLE>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1992 (Displayed in Two Parts)
<CAPTION>
T. Rowe T. Rowe
Custom Price Price Vanguard (Table
Investment Vanguard Prime Equity Bond Continues
Contract Windsor Reserve Index Index Below . . .)
Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments at fair value:
Shares of registered
investment
companies:
Custom Investment
Contract Fund $35,127,038
Vanguard Windsor
Fund $20,676,997
T. Rowe Price Prime
Reserve Fund $ 4,801,717
T. Rowe Price Equity
Index Fund $ 2,489,922
Vanguard Bond
Index Fund $ 989,852
Bristol-Meyers
Squibb Fund
Common stock:
The Dial Corp
Common Stock
GFCFC Common
Stock
Participants notes
receivable
Receivables:
Contributions
Dividends
----------- ----------- ----------- ----------- -----------
NET ASSETS
AVAILABLE
FOR BENEFITS $35,127,038 $20,676,997 $ 4,801,717 $ 2,489,922 $ 989,852
=========== =========== =========== =========== ===========
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1992 (Continued)
Bristol- The
Meyers Dial Corp GFCFC
Squibb Common Common Participants
Fund Stock Stock Notes Other Total
ASSETS
Investments at fair value:
Shares of registered
investment
companies:
Custom Investment
Contract Fund $35,127,038
Vanguard Windsor
Fund 20,676,997
T. Rowe Price Prime
Reserve Fund 4,801,717
T. Rowe Price Equity
Index Fund 2,489,922
Vanguard Bond
Index Fund 989,852
Bristol-Meyers
Squibb Fund $ 337,990 337,990
Common stock:
The Dial Corp
Common Stock $20,926,581 20,926,581
GFCFC Common
Stock $ 5,341,943 5,341,943
Participants notes
receivable $ 3,182,398 3,182,398
Receivables:
Contributions $ 106,592 106,592
Dividends 135,293 135,293
----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS
AVAILABLE
FOR BENEFITS $ 337,990 $21,061,874 $ 5,341,943 $ 3,182,398 $ 106,592 $94,116,323
=========== =========== =========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1993 (Displayed in Two Parts)
<CAPTION>
T. Rowe T. Rowe
Custom Price Price Vanguard (Table
Investment Vanguard Prime Equity Bond Continues
Contract Windsor Reserve Index Index Below . . .)
Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Contributions:
Employer - employee
wage reductions $ 4,408,921 $ 3,812,589 $ 800,934 $ 1,022,318 $ 472,591
Employee 62,515 47,222 17,569 14,991 8,573
----------- ----------- ----------- ----------- -----------
Total contributions 4,471,436 3,859,811 818,503 1,037,309 481,164
----------- ----------- ----------- ----------- -----------
Transfer of assets from
CPS Hotels 173,975 229,817 556,201 290,727 220,326
----------- ----------- ----------- ----------- -----------
Investment income:
Cash dividends 2,250,277 107,697 107,868
Interest income 2,344,170 132,381
Net appreciation
(depreciation) in fair
value of investments 2,009,972 218,471 18,224
----------- ----------- ----------- ----------- -----------
Total investment
income 2,344,170 4,260,249 132,381 326,168 126,092
----------- ----------- ----------- ----------- -----------
Total additions 6,989,581 8,349,877 1,507,085 1,654,204 827,582
----------- ----------- ----------- ----------- -----------
DEDUCTIONS:
Distributions 3,301,095 1,642,708 574,478 300,055 155,655
Transfer of assets to MCII 1,814,437 1,760,727 286,949 188,996 84,248
----------- ----------- ----------- ----------- -----------
Total deductions 5,115,532 3,403,435 861,427 489,051 239,903
----------- ----------- ----------- ----------- -----------
INTERFUND TRANSFERS (1,403,624) 1,402,833 (589,170) 67,473 28,921
----------- ----------- ----------- ----------- -----------
NET INCREASE
(DECREASE) 470,425 6,349,275 56,488 1,232,626 616,600
NET ASSETS AVAILABLE
FOR BENEFITS,
BEGINNING OF YEAR 35,127,038 20,676,997 4,801,717 2,489,922 989,852
----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS,
END OF YEAR $35,597,463 $27,026,272 $ 4,858,205 $ 3,722,548 $ 1,606,452
=========== =========== =========== =========== ===========
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1993 (Continued)
Bristol The
Myers Dial Corp GFCFC Parti-
Squibb Common Common cipant
Fund Stock Stock Notes Other Total
ADDITIONS:
Contributions:
Employer - employee
wage reductions $ 2,020,141 $ 876 $ 59,482 $ 12,597,852
Employee 42,701 193,571
----------- ----------- ----------- ------------
Total contribution 2,062,842 876 59,482 12,791,423
----------- ----------- ----------- ------------
Transfer of assets from
CPS Hotels 328,975 $ 41,066 1,841,087
----------- ----------- ----------- ----------- ------------
Investment income:
Cash dividends $ 14,448 589,978 167,001 3,237,269
Interest income 213,562 2,690,113
Net appreciation
(depreciation) in fair
value of investments (45,822) (850,427) 1,171,819 2,522,237
----------- ----------- ----------- ----------- ----------- ------------
Total investment
income (31,374) (260,449) 1,338,820 213,562 8,449,619
----------- ----------- ----------- ----------- ----------- ------------
Total additions (31,374) 2,131,368 1,339,696 254,628 59,482 23,082,129
----------- ----------- ----------- ----------- ----------- ------------
DEDUCTIONS:
Distributions 5,332 1,779,194 466,129 199,130 8,423,776
Transfer of assets to MCII 1,345,221 338,594 237,918 6,057,090
----------- ----------- ----------- ----------- ----------- ------------
Total deductions 5,332 3,124,415 804,723 437,048 14,480,866
----------- ----------- ----------- ----------- ----------- ------------
INTERFUND TRANSFERS (14,382) 1,575,043 (1,561,860) 494,766
----------- ----------- ----------- ----------- ----------- ------------
NET INCREASE
(DECREASE) (51,088) 581,996 (1,026,887) 312,346 59,482 8,601,263
NET ASSETS AVAILABLE
FOR BENEFITS,
BEGINNING OF YEAR 337,990 21,061,874 5,341,943 3,182,398 106,592 94,116,323
----------- ----------- ----------- ----------- ----------- ------------
NET ASSETS AVAILABLE
FOR BENEFITS,
END OF YEAR $ 286,902 $21,643,870 $ 4,315,056 $ 3,494,744 $ 166,074 $102,717,586
=========== =========== =========== =========== =========== ============
</TABLE>
<PAGE>
<TABLE>
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1992 (Displayed in Two Parts)
<CAPTION>
T. Rowe T. Rowe
Custom Price Price Vanguard
Investment Vanguard Prime Equity Bond GIC (Table
Contract Windsor Reserve Index Index Trust Continues
Fund Fund Fund Fund Fund Fund Below . . .)
<S> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS:
Contributions:
Employer - employee
wage reductions $ 5,116,167 $ 3,356,883 $ 880,482 $ 532,918 $ 189,420
Employee 64,211 32,245 8,574 6,425 898
----------- ----------- ----------- ----------- -----------
Total contributions 5,180,378 3,389,128 889,056 539,343 190,318
----------- ----------- ----------- ----------- -----------
Rollover deposits 100,488 55,293 15,557 112,771 56,384
----------- ----------- ----------- ----------- -----------
Investment income:
Cash dividends 1,282,184 41,068
Stock dividends
Interest income 1,634,628 66,562 189,514 7,892 49,993 $ 525,176
Net appreciation
(depreciation) in
fair value of
investments 1,522,313 86,624 (4,974)
----------- ----------- ----------- ----------- ----------- -----------
Total investment
income 1,634,628 2,871,059 189,514 135,584 45,019 525,176
----------- ----------- ----------- ----------- ----------- -----------
Total additions 6,915,494 6,315,480 1,094,127 787,698 291,721 525,176
----------- ----------- ----------- ----------- ----------- -----------
DEDUCTIONS:
Distributions to
participants 3,482,031 2,361,600 914,288 131,230 24,682 1,157,133
Transfer of assets 1,260,856 1,012,798 416,439 98,047 54,507 436,316
----------- ----------- ----------- ----------- ----------- -----------
Total deductions 4,742,887 3,374,398 1,330,727 229,277 79,189 1,593,449
----------- ----------- ----------- ----------- ----------- -----------
INTERFUND TRANSFERS 20,821,116 820,473 (475,476) 1,136,368 458,293 (15,244,121)
----------- ----------- ----------- ----------- ----------- -----------
NET INCREASE
(DECREASE) 22,993,723 3,761,555 (712,076) 1,694,789 670,825 (16,312,394)
NET ASSETS AVAILABLE
FOR BENEFITS,
BEGINNING OF YEAR 12,133,315 16,915,442 5,513,793 795,133 319,027 16,312,394
----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS,
END OF YEAR $35,127,038 $20,676,997 $ 4,801,717 $ 2,489,922 $ 989,852 $ 0
=========== =========== =========== =========== =========== ===========
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED DECEMBER 31, 1992 (Continued)
Travelers Bristol- The
GIC Myers Dial Corp GFCFC Parti-
Trust Squibb Common Common cipant
Fund Fund Stock Stock Notes Other Total
ADDITIONS:
Contributions:
Employer - employee
wage reductions $ 1,681,996 $ (313,154) $11,444,712
Employee 23,185 135,538
----------- ----------- -----------
Total contributions 1,705,181 (313,154) 11,580,250
----------- ----------- -----------
Rollover deposits 150,735 491,228
----------- ----------- -----------
Investment income:
Cash dividends 544,414 1,867,666
Stock dividends 5,905,065 5,905,065
Interest income $ 889,928 31,450 3,395,143
Net appreciation
(depreciation) in
fair value of
investments $ (131,514) (1,430,735) $ 3,472,559 $ 47,914 3,562,187
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total investment
income 889,928 (131,514) 5,050,194 3,472,559 47,914 14,730,061
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total additions 889,928 (131,514) 6,906,110 3,472,559 47,914 (313,154) 26,801,539
----------- ----------- ----------- ----------- ----------- ----------- -----------
DEDUCTIONS:
Distributions to
participants 1,640,589 155,836 2,585,390 758,312 792,100 14,003,191
Transfer of assets 712,435 507,292 4,498,690
----------- ----------- ----------- ----------- ----------- ----------- -----------
Total deductions 1,640,589 155,836 3,297,825 1,265,604 792,100 18,501,881
----------- ----------- ----------- ----------- ----------- ----------- -----------
INTERFUND TRANSFERS (8,643,015) (16,462) (2,803,668) 3,134,988 811,504
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET INCREASE
(DECREASE) (9,393,676) (303,812) 804,617 5,341,943 67,318 (313,154) 8,299,658
NET ASSETS AVAILABLE
FOR BENEFITS,
BEGINNING OF YEAR 9,393,676 641,802 20,257,257 3,115,080 419,746 85,816,665
----------- ----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS,
END OF YEAR $ 0 $ 337,990 $21,061,874 $ 5,341,943 $ 3,182,398 $ 106,592 $94,116,323
=========== =========== =========== =========== =========== =========== ===========
</TABLE>
<PAGE>
4. RELATED PARTY TRANSACTIONS
Certain Plan investments are shares of mutual funds managed by T. Rowe
Price. T. Rowe Price is the trustee as defined by the Plan and, therefore,
these transactions qualify as party-in-interest.
5. FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the Company by
letter dated June 15, 1993, that the Plan and related trust are designed in
accordance with applicable sections of the Internal Revenue Code.
* * * * * *
<PAGE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
SUPPLEMENTAL SCHEDULE
DECEMBER 31, 1993
Item 27a - Schedule of Assets Held for Investment Purposes
COLUMN B COLUMN C COLUMN D COLUMN E
Description of
Investment Including
Collateral, Rate of
Identity of Issue, Interest, Maturity
Borrower, Lessor or Date, Par or Current
Similar Party Maturity Value Cost Value
- - ---------------------- --------------------- ----------- -----------
Custom Investment GIC Fund
Contract Fund (35,597,463 shares) $35,597,463 $ 35,597,463
Vanguard Windsor Fund Mutual Fund
(1,942,938 shares) 25,267,791 27,026,272
T. Rowe Price Prime Mutual Fund
Reserve Fund (4,858,205 shares) 4,858,205 4,858,205
T. Rowe Price Equity Mutual Fund
Index Fund (274,545 shares) 3,419,255 3,700,863
Vanguard Bond Mutual Fund
Index Fund (159,687 shares) 1,595,501 1,606,452
Bristol-Myers Common Stock
Squibb Fund (4,925 shares) 33,437 286,902
The Dial Corp Common Stock
Common Stock (532,396 shares) 16,598,368 21,495,488
GFC Financial Cor- Common Stock
poration Common Stock (147,872 shares) 2,061,250 4,288,291
Participant notes Participant loans
receivable (interest 6% to 11.5%) 3,494,744 3,494,744
----------- ------------
Total $92,926,014 $102,354,680
<PAGE>
<TABLE>
DIAL COMPANIES CAPITAL ACCUMULATION PLAN
SUPPLEMENTAL SCHEDULE
YEAR ENDED DECEMBER 31, 1993
Item 27d - Schedule of Reportable Transactions
<CAPTION>
Column A Column B Column C Column D Column G Column H Column I
- - -------- -------- -------- -------- -------- -------- --------
Current
Value of
Asset on
Descrip- Trans- Net
Identity of tion of Purchase Selling Cost of action Gain/
Party Involved Asset Price Price Asset Date (Loss)
=============== ========= ========= ========= ========= ========= =========
<S> <C> <C> <C> <C> <C> <C>
SINGLE TRANSACTIONS:
None Noted
SERIES OF TRANSACTIONS:
Custom Investment
Contract Fund GIC Fund $8,013,934 $8,013,934
Custom Investment
Contract Fund GIC Fund $7,543,509 $7,543,509 $7,543,509
Vanguard Windsor
Fund Mutual Fund 8,810,426 8,810,426
Vanguard Windsor
Fund Mutual Fund 4,468,489 3,941,156 4,468,489 $527,333
The Dial Corp
Common Stock Common Stock 5,412,128 5,412,128
The Dial Corp
Common Stock Common Stock 3,991,676 3,182,499 3,991,676 809,177
<FN>
NOTE: Reportable transactions are those which either singularly or in a series of combined purchases and sales during the year
exceed 5% of the fair value of the Plan's assets at the beginning of the year.
</TABLE>
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration
Statement No. 33-65420 of The Dial Corp on Form S-8 of our report
dated June 14, 1994, appearing in this Annual Report on Form 11-K
of the Dial Companies Capital Accumulation Plan for the year
ended December 31, 1993.
/s/Deloitte & Touche
DELOITTE & TOUCHE
Phoenix, Arizona
June 24, 1994
Exhibit 24.1
