1
Exhibit 99.2
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
(x) Annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934
For the Fiscal year ended March 31, 1999
OR
( ) Transition report pursuant to Section 15(d) of the Securities
Exchange Act of 1934 (NO FEE REQUIRED)
For the Transition period From __________ to __________
Commission File Number _________________
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN
(For Employees Covered By A Collective Bargaining Agreement)
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
ANHEUSER-BUSCH COMPANIES, INC.
One Busch Place
St. Louis, Missouri 63118
2
Item 1. Plan is subject to ERISA, see Item 4 for required information.
Item 2. Plan is subject to ERISA, see Item 4 for required information.
Item 3. Plan is subject to ERISA, see Item 4 for required information.
Item 4. Financial Statements and Exhibits
---------------------------------
(a) Financial Statements<F*>:
Report of independent accountants
Statement of Net Assets Available for Benefits with Fund
Information at March 31, 1999 and March 31, 1998.
Statement of Changes in Net Assets Available for Benefits with
Fund Information for year ended March 31, 1999 and March 31,
1998.
Notes to financial statements
Anheuser-Busch Defined Contribution Master Trust - Statement of
Net Assets Available for Benefits with Fund Information at March
31, 1999 and March 31, 1998 (Appendix A)
Anheuser-Busch Defined Contribution Master Trust - Statement of
Changes in Net Assets Available for Benefits with Fund Information
for the Year Ended March 31, 1999 and March 31, 1998 (Appendix A)
(b) Exhibits:
None
[FN]
<F*> Other schedules required by Section 2520.103-10 of the Department
of Labor Rules and Regulations for Reporting and Disclosure under
ERISA have been omitted because they are not applicable.
2
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the Plan) have duly caused
this annual report to be signed by the undersigned thereunto duly
authorized.
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN (FOR EMPLOYEES
COVERED BY A COLLECTIVE BARGAINING
AGREEMENT)
By: JOBETH G. BROWN
-----------------------------------
JoBeth G. Brown
Committee Member
Dated: September 24, 1999
3
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[LOGO]
PricewaterhouseCoopers LLP
800 Market Street
St. Louis MO 63101
Telephone (314) 206 8500
REPORT OF INDEPENDENT ACCOUNTANTS
July 30, 1999
To the Participants and Administrator
of the Anheuser-Busch Deferred Income
Stock Purchase and Savings Plan (For
Employees Covered by a Collective
Bargaining Agreement)
In our opinion, the accompanying statements of net assets available for
benefits with fund information and the related statements of changes in net
assets available for benefits with fund information present fairly, in all
material respects, the net assets available for benefits of the
Anheuser-Busch Deferred Income Stock Purchase and Savings Plan (For Employees
Covered by a Collective Bargaining Agreement) at March 31, 1999 and 1998, and
the changes in net assets available for benefits for the years then ended, in
conformity with generally accepted accounting principles. 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 of these statements in accordance
with generally accepted auditing standards which 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, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
/s/ PricewaterhouseCoopers LLP
5
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
MARCH 31, 1999
PAGE 2
- ----------------------------------------------------------------------------------------------------------------------------------
SHORT-TERM MEDIUM-TERM
ANHEUSER-BUSCH FIXED FIXED EQUITY MANAGED
COMPANIES, INC. INCOME INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
ASSETS
Contributions Receivable
Participants $ -- $ -- $ -- $ -- $ --
Employer -- -- -- -- --
-------------- ---------- ----------- ------------ ----------
-- -- -- -- --
-------------- ---------- ----------- ------------ ----------
Investments, at fair value:
Interest Bearing Cash 5,251,215
Anheuser-Busch Companies,
Inc. Common Stock<F*> 1,258,430,924
Anheuser-Busch Companies,
Inc. Short-Term
Fixed Income Fund 6,669,315
Anheuser-Busch Companies,
Inc. Medium-Term
Fixed Income Fund 11,257,340
Anheuser-Busch Companies,
Inc. Equity Index Fund<F*> 105,346,581
Anheuser-Busch Companies,
Inc. Managed Balanced
Fund 6,081,335
Anheuser-Busch Companies,
Inc. Index Balanced
Fund
Participant loans
Earthgrains Company, Inc.
Stock Fund -- -- -- -- --
-------------- ---------- ----------- ------------ ----------
Total investments 1,263,682,139 6,669,315 11,257,340 105,346,581 6,081,335
-------------- ---------- ----------- ------------ ----------
Total assets 1,263,682,139 6,669,315 11,257,340 105,346,581 6,081,335
-------------- ---------- ----------- ------------ ----------
LIABILITIES
Total liabilities (105,250,000) -- -- -- --
-------------- ---------- ----------- ------------ ----------
Net assets available for
benefits $1,158,432,139 $6,669,315 $11,257,340 $105,346,581 $6,081,335
============== ========== =========== ============ ==========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
ASSETS
Contributions Receivable
Participants $ -- $ -- $ -- $ --
Employer -- -- -- --
---------- ----------- ----------- --------------
-- -- -- --
---------- ----------- ----------- --------------
Investments, at fair value: 5,251,215
Interest Bearing Cash
Anheuser-Busch Companies, Inc
Common Stock<F*> 1,258,430,924
Anheuser-Busch Companies
Inc. Short-Term
Fixed Income Fund 6,669,315
Anheuser-Busch Companies,
Inc. Medium-Term
Fixed Income Fund 11,257,340
Anheuser-Busch Companies,
Inc. Equity Index Fund<F*> 105,346,581
Anheuser-Busch Companies,
Inc. Managed Balanced Fund 6,081,335
Anheuser-Busch Companies,
Inc. Index Balanced Fund 7,759,706 7,759,706
Participant loans 45,068,710 45,068,710
Earthgrains Company, Inc
Stock Fund -- -- 13,301,088 13,301,088
---------- ----------- ----------- --------------
Total investments 7,759,706 45,068,710 13,301,088 1,459,166,214
---------- ----------- ----------- --------------
Total assets 7,759,706 45,068,710 13,301,088 1,459,166,214
---------- ----------- ----------- --------------
LIABILITIES
Total liabilities -- -- -- (105,250,000)
---------- ----------- ----------- --------------
Net assets available for
benefits $7,759,706 $45,068,710 $13,301,088 $1,353,916,214
========== =========== =========== ==============
<FN>
<F*> Represents more than 5% of net assets available for benefits.
The accompanying notes are an integral part of these financial statements.
6
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
MARCH 31, 1998
PAGE 3
- ----------------------------------------------------------------------------------------------------------------------------------
SHORT-TERM MEDIUM-TERM
ANHEUSER-BUSCH FIXED FIXED EQUITY MANAGED
COMPANIES, INC. INCOME INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
ASSETS
Contributions Receivable
Participants $ 523,590 $ 6,359 $ 15,865 $ 79,212 $ 7,149
Employer 280,493 -- -- -- --
------------ ---------- ----------- ----------- ----------
804,083 6,359 15,865 79,212 7,149
------------ ---------- ----------- ----------- ----------
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> 871,036,203
Anheuser-Busch Companies,
Inc. Short-Term
Fixed Income Fund 8,074,980
Anheuser-Busch Companies,
Inc. Medium-Term
Fixed Income Fund 13,692,827
Anheuser-Busch Companies,
Inc. Equity Index Fund<F*> 81,860,051
Anheuser-Busch Companies,
Inc. Managed Balanced Fund 5,900,367
Anheuser-Busch Companies,
Inc. Index Balanced Fund
Participant loans
Earthgrains Company, Inc.
Stock Fund -- -- -- -- --
------------ ---------- ----------- ----------- ----------
Total investments 871,036,203 8,074,980 13,692,827 81,860,051 5,900,367
------------ ---------- ----------- ----------- ----------
Total assets 871,840,286 8,081,339 13,708,692 81,939,263 5,907,516
------------ ---------- ----------- ----------- ----------
LIABILITIES
Total liabilities (123,600,000) -- -- -- --
------------ ---------- ----------- ----------- ----------
Net assets available
for benefits $748,240,286 $8,081,339 $13,708,692 $81,939,263 $5,907,516
============ ========== =========== =========== ==========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
ASSETS
Contributions Receivable
Participants $ 6,540 $ -- $ -- $ 638,715
Employer -- -- -- 280,493
---------- ----------- ----------- --------------
6,540 -- -- 919,208
---------- ----------- ----------- --------------
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> 871,036,203
Anheuser-Busch Companies,
Inc. Short-Term
Fixed Income Fund 8,074,980
Anheuser-Busch Companies,
Inc. Medium-Term
Fixed Income Fund 13,692,827
Anheuser-Busch Companies,
Inc. Equity Index Fund<F*> 81,860,051
Anheuser-Busch Companies,
Inc. Managed Balanced Fund 5,900,367
Anheuser-Busch Companies,
Inc. Index Balanced Fund 5,795,200 5,795,200
Participant Loans 43,459,077 43,459,077
Earthgrains Company, Inc.
Stock Fund -- -- 17,051,707 17,051,707
---------- ----------- ----------- --------------
Total Investments 5,795,200 43,459,077 17,051,707 1,046,870,412
---------- ----------- ----------- --------------
Total Assets 5,801,740 43,459,077 17,051,707 1,047,789,620
---------- ----------- ----------- --------------
LIABILITIES
Total Liabilities -- -- -- (123,600,000)
---------- ----------- ----------- --------------
Net assets available
for benefits $5,801,740 $43,459,077 $17,051,707 $ 924,189,620
========== =========== =========== ==============
<FN>
<F*> Represents more than 5% of net assets available for benefits.
The accompanying notes are an integral part of these financial statements.
7
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED MARCH 31, 1999
PAGE 4
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SHORT-TERM MEDIUM-TERM
ANHEUSER-BUSCH FIXED FIXED EQUITY MANAGED
COMPANIES, INC. INCOME INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
Additions to net assets
attributed to:
Contributions:
Participants $ 23,795,068 $ 315,893 $ 611,141 $ 4,738,649 $ 362,230
Employer 258,018 -- -- -- --
-------------- ---------- ----------- ------------ ----------
Total contributions 24,053,086 315,893 611,141 4,738,649 362,230
Investment income:
Interest 779,815
Dividends 4,247,249
Net realized and unrealized
appreciation in fair value
of investments 512,997,578 526,164 877,149 18,603,840 567,714
-------------- ---------- ----------- ------------ ----------
Total additions 542,077,728 842,057 1,488,290 23,342,489 929,944
-------------- ---------- ----------- ------------ ----------
Deductions from net assets
attributed to:
Distributions 107,454,682 4,541,928 3,334,004 12,877,615 558,670
Interest expense 10,197,000
Administrative expenses 17,559 -- -- -- --
-------------- ---------- ----------- ------------ ----------
Total deductions 117,669,241 4,541,928 3,334,004 12,877,615 558,670
Net transfers (out) in (14,216,634) 2,287,847 (605,638) 12,942,444 (197,455)
-------------- ---------- ----------- ------------ ----------
Net increase (decrease) 410,191,853 (1,412,024) (2,451,352) 23,407,318 173,819
Net assets available for
benefits:
Beginning of year 748,240,286 8,081,339 13,708,692 81,939,263 5,907,516
-------------- ---------- ----------- ------------ ----------
End of year $1,158,432,139 $6,669,315 $11,257,340 $105,346,581 $6,081,335
============== ========== =========== ============ ==========
INDEX PARTICIPANT EARTHGRAINS
BALANCED LOAN COMPANY
FUND FUND STOCK FUND TOTAL
Additions to net assets attributed to:
Contributions:
Participants $375,715 $ -- $ -- $30,198,696
Employer -- -- -- 258,018
---------- ----------- ----------- --------------
Total contributions 375,715 -- -- 30,456,714
Investment income:
Interest 3,767,513 4,547,328
Dividends 4,247,249
Net realized and unrealized
appreciation in fair
value of investments 996,283 -- 1,100,572 535,669,300
---------- ----------- ----------- --------------
Total additions 1,371,998 3,767,513 1,100,572 574,920,591
---------- ----------- ----------- --------------
Deductions from net assets
attributed to:
Distributions 966,145 1,703,505 2,989,018 134,425,567
Interest expense 10,197,000
Administrative expenses -- -- -- 17,559
---------- ----------- ----------- --------------
Total deductions 966,145 1,703,505 2,989,018 144,640,126
Net transfers (out) in 1,552,113 (454,375) (1,862,173) (553,871)
---------- ----------- ----------- --------------
Net increase (decrease) 1,957,966 1,609,633 (3,750,619) 429,726,594
Net assets available for
benefits:
Beginning of year 5,801,740 43,459,077 17,051,707 924,189,620
---------- ----------- ----------- --------------
End of year $7,759,706 $45,068,710 $13,301,088 $1,353,916,214
========== =========== =========== ==============
The accompanying notes are an integral part of these financial statements.
8
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
YEAR ENDED MARCH 31, 1998
PAGE 5
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SHORT-TERM MEDIUM-TERM
ANHEUSER-BUSCH FIXED FIXED EQUITY MANAGED
COMPANIES, INC. INCOME INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
Additions to net assets
attributed to:
Contributions:
Participants $ 27,214,844 $ 391,559 $ 742,431 $ 2,627,378 $ 273,875
Employer 3,580,328 -- -- -- --
------------ ---------- ----------- ----------- ----------
Total contributions 30,795,172 391,559 742,431 2,627,378 273,875
Investment income:
Interest 460,009
Dividends 4,912,920
Net realized and unrealized
appreciation in fair value
of investments 105,394,518 279,569 1,072,262 12,713,421 754,219
------------ ---------- ----------- ----------- ----------
Total additions 141,562,619 671,128 1,814,693 15,340,799 1,028,094
------------ ---------- ----------- ----------- ----------
Deductions from net assets
attributed to:
Distributions 59,035,183 2,321,349 904,590 2,467,658 191,236
Interest expense 11,636,625
Administrative expenses 9,655 -- -- -- --
------------ ---------- ----------- ----------- ----------
Total deductions 70,681,463 2,321,349 904,590 2,467,658 191,236
------------ ---------- ----------- ----------- ----------
Net transfers in (out) (59,252,911) 5,087,347 1,458,473 50,706,152 3,230,579
------------ ---------- ----------- ----------- ----------
Net increase 11,628,245 3,437,126 2,368,576 63,579,293 4,067,437
Net assets available for benefits:
Beginning of year 736,612,041 4,644,213 11,340,116 18,359,970 1,840,079
------------ ---------- ----------- ----------- ----------
End of year $748,240,286 $8,081,339 $13,708,692 $81,939,263 $5,907,516
============ ========== =========== =========== ==========
INDEX PARTICIPANT EARTHGRAINS
BALANCED LOAN COMPANY
FUND FUND STOCK FUND TOTAL
Additions to net assets
attributed to:
Contributions:
Participants $ 249,472 $ -- $ -- $ 31,499,559
Employer -- -- -- 3,580,328
---------- ----------- ----------- ------------
Total contributions 249,472 -- -- 35,079,887
Investment income:
Interest 3,243,763 3,703,772
Dividends 4,912,920
Net realized and unrealized
appreciation in fair value
of investments 583,157 -- 8,493,737 129,290,883
---------- ----------- ----------- ------------
Total additions 832,629 3,243,763 8,493,737 172,987,462
---------- ----------- ----------- ------------
Deductions from net assets
attributed to:
Distributions 174,408 1,504,636 1,469,821 68,068,881
Interest expense 11,636,625
Administrative expenses -- -- -- 9,655
---------- ----------- ----------- ------------
Total deductions 174,408 1,504,636 1,469,821 79,715,161
---------- ----------- ----------- ------------
Net transfers in (out) 4,059,028 1,670,924 (1,767,303) 5,192,289
---------- ----------- ----------- ------------
Net increase 4,717,249 3,410,051 5,256,613 98,464,590
Net assets available for benefits:
Beginning of year 1,084,491 40,049,026 11,795,094 825,725,030
---------- ----------- ----------- ------------
End of year $5,801,740 $43,459,077 $17,051,707 $924,189,620
========== =========== =========== ============
The accompanying notes are an integral part of these financial statements.
9
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 6
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1. DESCRIPTION OF THE PLAN
GENERAL
The Anheuser-Busch Deferred Income Stock Purchase and Savings Plan
(For Employees Covered by a Collective Bargaining Agreement) (the
Plan) was established as a result of an amendment to the
Anheuser-Busch Employee Stock Purchase and Savings Plan (the
Original Plan). The Original Plan was established by
Anheuser-Busch, Inc., effective April 1, 1976 and upon amendment,
was divided into two separate plans effective March 1, 1986: the
Deferred Income Stock Purchase and Savings Plan (For Employees
Covered by a Collective Bargaining Agreement) and the Employee
Stock Purchase and Savings Plan. The Plan is a continuation of the
Original Plan except that certain additional features were added,
including provisions for Before-Tax Contributions pursuant to
Section 401(k) of the Internal Revenue Code. Additionally,
eligibility was limited to employees who are members of collective
units and whose collective bargaining agreement specifically
provides for participation of such members.
The Plan covers eligible employees of Anheuser-Busch Companies,
Inc. (the Company) and certain subsidiaries of the Company which
include: Anheuser-Busch, Inc.; August A. Busch & Co. of
Massachusetts, Inc.; Anheuser-Busch Companies, Inc.; Busch
Agricultural Resources, Inc.; Manufacturers Railway Company;
Pacific International Rice Mills, Inc.; Metal Container
Corporation; and A-B Contract Services, Inc. This summary is
intended to provide only a general description of the Plan's
provisions. Participants should refer to the Plan document for
more complete information.
PLAN ADMINISTRATION
The Plan's named fiduciaries are the Company, as Sponsor and Plan
Administrator, and Mellon Bank, N.A. as the Trustee. As Sponsor,
the Company has the right to amend the Plan, designate the Plan's
named fiduciaries and exercise all fiduciary functions necessary
for the operation of the Plan except those which are assigned to
another named fiduciary by the Plan or the related trust agreement.
The Company has appointed an Administrative Committee to exercise
the authority and responsibility for the general administration of
the Plan. The Trustee has the exclusive authority and discretion
to invest, manage and hold the assets of the trust in accordance
with the provisions of the Plan and the separate trust agreement.
The Plan was amended effective June 1, 1989, to add provisions to
make the Plan a stock bonus plan and to permit the leveraged
acquisition of Company stock by the Plan. As such, the Plan is
subject to the requirements of an employee stock ownership plan
(ESOP) under Section 4975(e)(7) of the Internal Revenue Code. The
Trustee was specifically empowered to enter into loans, on behalf
of the Plan, to acquire Company stock or to repay a prior ESOP
loan.
Effective April 1, 1994, the Plan was amended to incorporate
various changes to the Plan, including changes in participants'
contribution limits, changes in Company matching contributions, the
addition of the Managed Balanced Fund and Indexed Balanced Fund
investment options, and the decrease in the vesting period from
three years to two years.
10
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 7
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PLAN PARTICIPATION
Each employee of a participating employer (other than employees not
covered by a collective bargaining agreement) of the Company is
eligible to participate in the Plan after one year of service,
during which the employee worked 1,000 hours. Participation by
eligible employees is voluntary.
CONTRIBUTIONS
A participant may make matched or unmatched contributions. Both
matched and unmatched contributions may be before-tax and
after-tax. A participant may contribute from 1% to 6% of their
base compensation through payroll deductions for Before-Tax Matched
Contributions and After-Tax Matched Contributions. The sum of
these matched contributions may not be less than 2% nor more than
6% of the participant's base compensation. In addition, a
participant may contribute from 1% to 10% of their base
compensation through payroll deductions for Before-Tax Unmatched
Contributions and After-Tax Unmatched Contributions; however, the
unmatched contribution rates may not exceed 10% of the
participant's base compensation and are subject to other
limitations as set forth in the Plan agreement. In addition, the
sum of Before-Tax contribution rates must not exceed 16% of a
participant's base compensation, subject to certain limitations of
the Internal Revenue Code. The participant's employer then
contributes a matching amount, determined annually, based on the
relationship of the Company's net income to its payroll for the
year most recently ended. However, in no event may the
participating employer's matching contribution be less than 33-1/3%
nor more than 75% of the aggregate participant contributions.
Effective April 1, 1998, the participating employer's matching
contribution may not be less than 33-1/3% nor more than 100% of the
aggregate participant contributions. The Company may, however,
contribute an amount in excess of the matching contribution to
enable the Plan to meet its debt service payments.
The Company may also be required to make a Supplemental
Contribution as determined by the Administrative Committee in
accordance with the Plan document. Supplemental Contributions are
made by transferring shares of Anheuser-Busch Common Stock from the
ESOP and allocating the shares to participants who have account
balances as of the end of the Plan year and are required to be made
within 180 days of the Plan's year end. For the years ended March
31, 1999, 10,251 shares with a value of $761,137 were transferred
from the ESOP to participant accounts on March 30, 1999 as well as
14,958 shares with a value of $1,114,438 on April 6, 1999 for the
required Supplemental Contribution. For the year ended March 31,
1998 a Supplemental Contribution was not required.
Employee contributions vest and become non-forfeitable immediately.
Company contributions also vest and become nonforfeitable
immediately for participants actively employed by the Company on or
prior to March 31, 1989. For participants subsequently employed,
Company contributions vest and become non-forfeitable after two
years of service. Company contributions also vest and become
non-forfeitable upon termination of employment by reason of death,
permanent disability, entry into military service, layoff exceeding
twelve months, upon termination of employment for any reason,
including retirement, after reaching age 60, or in the event of a
"change in control" of the Company (as defined in the Plan).
Forfeitures of nonvested balances reduce future employer contributions.
There were $1,045 and $86 of forfeitures during the years ended March 31,
1999 and 1998, respectively.
11
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 8
- -------------------------------------------------------------------------------
INVESTMENTS
The Trustee maintains an Anheuser-Busch Companies, Inc. Stock Fund,
an Earthgrains Company, Inc. Stock Fund, a Short-Term Fixed Income
Fund, a Medium-Term Fixed Income Fund, an Equity Index Fund, a
Managed Balanced Fund, and an Index Balanced Fund for the
investment of participant and employer contributions. All employer
contributions are invested in the Company Stock Fund. At least
one-half of each participant's Before-Tax Matched Contributions and
at least one-half of each participant's After-Tax Matched
Contributions shall be invested in the Company Stock Fund for
certain periods of time. The participant may direct the remaining
one-half of each type of matched contributions to be invested in
increments of 1% into any fund established under the Plan. The
participant may direct that the unmatched contributions be
deposited into any fund of the Plan in increments of 1%. Earnings
are reinvested in the fund to which they relate.
The Master Trusts had been established for each of the investment
funds other than the Company Stock Fund for the investment of the
Plan's assets and the assets of the other stock purchase and
savings plans sponsored by the Company. On September 1, 1995, the
Master Trusts for each investment fund were combined, along with
the Company Stock Fund into a single Master Trust.
DISTRIBUTIONS
The Plan permits in-service withdrawals and an optional annual
class year distribution as defined in the Plan document, subject to
certain restrictions. Distributions for terminations are comprised
of the participant's personal contribution portion of their account
and the part of the Company contribution portion of their account
which is vested. Termination and annual class year distributions
for whole numbers of shares are payable in Company shares while the
value of fractional shares and all interests in the other funds are
payable in cash. Alternatively, the participant may elect to have
non-share investments transferred to the Company Stock Fund and
distributed thereafter in shares with fractional shares distributed
in cash. In-service distributions other than annual class year
distributions are payable at the election of the participant in
Company shares or in cash.
PARTICIPANT LOANS
A participant may borrow from Before-Tax and/or After-Tax vested
account balances. The minimum loan amount is $1,000; the maximum
amount is the lesser of $50,000 less the highest outstanding loan
balance under the Plan during the one year period ending on the day
before the loan is made, or 50% of the vested account balance. The
interest rate for the life of the loan is set quarterly at prime
plus one percentage point based on the prime rate at the end of the
preceding quarter. The term of a loan for the purchase of a
principal residence may be up to 10 years; the term of a loan for
any other reason may not exceed 5 years.
PLAN EXPENSES
Under the Master Trust agreement with the Trustee, the Company may
pay all expenses incurred in the administration of the Master
Trust, including trustee fees, but is not obligated to do so.
Trustee expenses not paid by the Company are paid by the Master
Trust and proportionately allocated to the participating plans.
All other expenses incurred in the administration of the Plan are
paid by the participating employers.
12
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 9
- -------------------------------------------------------------------------------
PLAN TERMINATION
The Company anticipates that the Plan will continue without
interruption but reserves the right to terminate its participation
in the Plan subject to the provisions of ERISA. Such termination
would result in the immediate and full vesting of each
participant's account balance. The Trustee would then retain the
assets until otherwise distributable under the Plan.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
THe Plan's financial statements are prepared on the accrual basis
of accounting.
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of additions to and deductions from net assets
during the reporting period. Actual results could differ from
those estimates.
INVESTMENT VALUATION
Investments in common stock, U.S. government securities, and
corporate debt instruments are stated at fair value based on the
quoted market price at March 31 each year. Investments in interest
bearing cash, insurance contracts, and interests in
common/collective trusts are stated at fair value as determined by
the trustee. Participant loans are valued at cost which
approximates fair value.
Investment securities are exposed to various risks, such as
interest rate, market, and credit. Due to the level of risk
associated with certain investment securities and the level of
uncertainty related to changes in the value of investment
securities, it is at least reasonably possible that changes in
risks in the near term could materially affect the amounts reported
in the Statement of Net Assets Available for Benefits with Fund
Information.
SECURITY TRANSACTIONS AND INVESTMENT INCOME
Purchases and sales of investments, and related realized gains and
losses, are recorded on the trade date. Interest income is
recorded as earned. Dividend income is recorded on the ex-dividend
date. Net realized and unrealized appreciation in fair value of
investments is comprised of the change in market value from the
beginning to the end of the Plan year for investments retained in
the Plan, and realized gains and losses on security transactions
which represent the difference between proceeds and cost.
ALLOCATION OF ASSETS
The Plan participates in the Anheuser-Busch Companies, Inc. Defined
Contribution Master Trust (Master Trust) established for the
investments of this plan and the other stock purchase and savings
plans sponsored by the Company. Units of participation in the
Master Trust are allocated to participating plans based on the
relationship of individual plan contributions to the market value
of the Master Trust. Earned income, realized and unrealized gains
and losses, and administrative expenses are retained in the Master
Trust and are allocated to participating plans by the Trustee,
based on units of participation on the transaction date.
13
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 10
- -------------------------------------------------------------------------------
3. INTERESTS IN ANHEUSER-BUSCH COMPANIES, INC. DEFINED
CONTRIBUTION MASTER TRUST
Effective September 1, 1995 the Company and the Trustee entered in
to a new master trust agreement. On September 1, 1995, in
accordance with the agreement, the Plan exchanged it's investments
in: the Anheuser-Busch Companies, Inc. Common Stock Fund, the
Anheuser-Busch Companies, Inc. Short-Term Fixed Income Master
Trust, the Anheuser-Busch Companies, Inc. Medium-Term Fixed Income
Master Trust, the Anheuser-Busch Companies, Inc. Capital Equity
Index Fund Master Trust, the Anheuser-Busch Companies, Inc. Managed
Balanced Fund Master Trust, and the Anheuser-Busch Companies, Inc.
Indexed Balanced Fund Master Trust for units of participation in
the Anheuser-Busch Companies, Inc. Defined Contribution Master
Trust. Effective March 26, 1996 the Earthgrains Company Stock Fund
was also added to the Anheuser-Busch Companies, Inc. Defined
Contribution Master Trust. The assets of the Master Trust are held
by Mellon Bank, N.A. (Trustee).
At March 31, 1999 and 1998, the Plan's interest in the net assets
of the Master Trust was approximately 45% and 46%, respectively.
The following table presents the fair value of investments for the
Master Trust:
MARCH 31,
1999 1998
Investments at fair value:
Anheuser-Busch common stock $2,690,248,415 $1,768,443,386
Short-term fixed income 22,336,551 23,983,370
Medium-term fixed income 45,376,432 48,360,569
Equity index 302,006,045 244,609,595
Managed balanced 23,560,824 21,318,878
Index balanced 26,361,477 21,599,221
Participant loans 87,168,848 83,211,937
Earthgrains Company common stock 29,552,524 35,570,828
-------------- --------------
$3,226,611,116 $2,247,097,784
============== ==============
14
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 11
- ----------------------------------------------------------------------------------------------------------------------------------
Investment income for the Master Trust is as follows:
YEAR ENDED MARCH 31,
1999 1998
Net appreciation in fair value of
investments:
Anheuser-Busch common stock $1,048,963,294 $178,962,138
Short-term fixed income 1,148,887 29,847
Medium-term fixed income 114,341 1,391,974
Equity index 45,686,098 50,332,246
Managed balanced 2,004,553 3,829,723
Index balanced 3,289,062 2,946,651
Earthgrains Company common stock 1,575,592 17,367,264
-------------- ------------
1,102,781,827 254,859,843
-------------- ------------
Interest 18,649,560 14,661,835
Dividends 39,115,247 41,880,450
-------------- ------------
$1,160,546,634 $311,402,128
============== ============
Further financial information for the Anheuser-Busch Companies,
Inc. Defined Contribution Master Trust as of and for the years
ended March 31, 1999 and 1998 are included as Appendix A.
4. FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the
Company by letter dated January 30, 1995 that the Plan is designed
in accordance with applicable sections of the Internal Revenue
Code. Therefore, the underlying trust of such a Plan is exempt
from federal income taxes under Section 501 of the Internal Revenue
Code. The Plan has been amended since receiving the determination
letter. However, the Plan Administrator and the Plan's tax counsel
believe that the plan is currently designed and being operated in
compliance with the applicable requirements of the Internal Revenue
Code. Therefore, no provision for income taxes has been included
in the Plan's financial statements.
5. NOTES PAYABLE
In June 1989, the Plan issued $250 million in guaranteed 8.32% ESOP
notes (Notes) to a group of insurance companies and other financial
institutions. In September 1993, the interest rate was reduced to
8.25% per annum retroactive to January 1, 1993. Interest is
payable semiannually. Principal is payable in annual instalments
until maturity on March 31, 2004. The Notes are guaranteed by
Anheuser-Busch Companies, Inc. and Anheuser-Busch, Inc. Proceeds of
the Notes were used to purchase 5,665,723 shares of Company stock,
the unallocated portion of which is pledged as collateral for the
Notes. The shares are
15
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 12
- -------------------------------------------------------------------------------
maintained in the Anheuser-Busch Companies, Inc. Stock Fund and are
released and allocated to Plan participants based on calculations
specified in the Plan document as contributions are made to the Plan.
During the years ended March 31, 1999 and 1998, 765,449 and 779,917 shares
were released to participants, respectively. At March 31, 1999, the
Company Stock Fund held 3,542,838 and 4,308,287 unallocated shares,
respectively.
Principal maturities for each of the years ending March 31, are as
follows:
2000 $ 19,150,000
2001 20,000,000
2002 20,950,000
2003 22,000,000
2004 23,150,000
------------
$105,250,000
============
6. BENEFIT OBLIGATIONS
Benefit obligations for persons who have withdrawn from
participation in the Plan are as follows:
MARCH 31,
1999 1998
Investments at fair value:
Anheuser-Busch common stock $4,665,546 $3,328,560
Short-term fixed income 248,742 220,661
Medium-term fixed income 165,609 238,030
Equity index 622,399 236,068
Managed balanced 34,207 2,691
Index balanced 77,267 2,268
Earthgrains Company common stock 74,752 95,089
---------- ----------
$5,888,522 $4,123,367
========== ==========
In accordance with generally accepted accounting principles, these amounts
are not reported as distributions payable in the accompanying financial
statements. However, Department of Labor regulations require that these
amounts be reported as liabilities on Form 5500. Accordingly, net assets
available for benefits reported on Form 5500 are lower than that reflected
in the financial statements by the above amounts.
7. TRANSACTIONS WITH PARTIES-IN-INTEREST
During the years ended March 31, 1999 and 1998, transactions with
the Company included aggregate common stock purchases totaling
$47,928,978 and $7,011,768, respectively and
16
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1999
PAGE 13
- -------------------------------------------------------------------------------
aggregate common stock sales totaling $73,081,483 and $60,496,808,
respectively. These transactions are allowable party-in-interest
transactions under Section 408(e) and 408(b)(8) of ERISA and the
regulations promulgated thereunder.
During the years ended March 31, 1999 and 1998, the Plan purchased
and sold investments in the Employee Benefit Temporary Investment
Fund of Mellon Bank N.A., the Plan trustee. Transactions with the
Fund included aggregate investment purchases totaling $114,233,149
and $64,636,514, respectively and aggregate investment sales
totaling $105,703,029 and $62,946,526, respectively. These
transactions are allowable party-in-interest transactions under
Section 408(e) and 408(b)(8) of ERISA and the regulations
promulgated thereunder.
8. UNIT ACCOUNTING
As of October 17, 1995, the Company began allocating units to
participant accounts. On March 31, 1999, the total number of units
allocated to each of the funds in the Plan and the applicable net
asset value (NAV) of each unit was as follows:
UNITS HELD NAV PER UNIT
Anheuser-Busch Companies, Inc. Stock Fund 37,651,462 26.17
Short-Term Fixed Income Fund 362,168 18.42
Medium-Term Fixed Income Fund 449,555 25.04
Equity Index Fund 362,168 290.88
Managed Balanced Fund 293,997 20.69
Index Balanced Fund 147,464 52.62
Participant Loans 45,068,710 1.00
Earthgrains Company Stock Fund 900,954 14.76
17
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION PAGE 1 of 4
MARCH 31, 1999
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
- -----------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM EQUITY MANAGED
COMPANIES, INC. FIXED INCOME FIXED INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> $2,673,153,056 $ -- $ -- $ -- $ --
Interest Bearing Cash 17,095,359
U.S. government securities 8,687,849 19,234,879
Corporate debt instruments 13,415,531 25,908,975
INsurance contracts 23,560,824
Interest in common/
collective trusts
Loans to participants
Earthgrains Company, Inc.
common stock
Other investments<F*> -- 233,171 232,578 302,006,045 --
-------------- ----------- ----------- ------------ -----------
Total investments 2,690,248,415 22,336,551 45,376,432 302,006,045 23,560,824
-------------- ----------- ----------- ------------ -----------
Total assets 2,690,248,415 22,336,551 45,376,432 302,006,045 23,560,824
-------------- ----------- ----------- ------------ -----------
LIABILITIES
Notes payable (210,500,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total liabilities (210,500,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Net assets available for
benefits $2,479,748,415 $22,336,551 $45,376,432 $302,006,045 $23,560,824
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> $ -- $ -- $ -- $2,673,153,056
Interest bearing cash 41 17,095,400
U.S. government securities 27,922,728
Corporate debt instruments 39,324,506
Insurance contracts 23,560,824
Interest in common/
collective trusts 26,361,477 26,361,477
Loans to participants 87,168,848 87,168,848
Earthgrains Company, Inc.
common stock 29,477,579 29,477,579
Other investments<F*> -- -- 74,904 302,546,698
----------- ----------- ----------- --------------
Total investments 26,361,477 87,168,848 29,552,524 3,226,611,116
----------- ----------- ----------- --------------
Total assets 26,361,477 87,168,848 29,552,524 3,226,611,116
----------- ----------- ----------- --------------
LIABILITIES
Notes payable -- -- -- (210,500,000)
----------- ----------- ----------- --------------
Total liabilities -- -- -- (210,500,000)
----------- ----------- ----------- --------------
Net assets available for benefits $26,361,477 $87,168,848 $29,552,524 $3,016,111,116
=========== =========== =========== ==============
<FN>
<F*> Represents more than 5% of net assets available for benefits
18
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION PAGE 2 of 4
MARCH 31, 1999
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
- --------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM EQUITY MANAGED
COMPANIES, INC. FIXED INCOME FIXED INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> $1,764,699,829 $ -- $ -- $ -- $ --
Interest bearing cash 3,720,727 129,620
U.S. government securities 9,361,836 19,483,013
Corporate debt instruments 10,442,678 28,354,090
Insurance contracts
Interest in common/
collective trusts 21,318,878
Loans to participants
Earthgrains Company, Inc.
common stock
Other investments<F*> 22,830 4,178,856 393,846 244,609,595 --
-------------- ----------- ----------- ------------ -----------
Total investments 1,768,443,386 23,983,370 48,360,569 244,609,595 21,318,878
-------------- ----------- ----------- ------------ -----------
Total assets 1,768,443,386 23,983,370 48,360,569 244,609,595 21,318,878
-------------- ----------- ----------- ------------ -----------
LIABILITIES
Notes payable (247,200,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total liabilities (247,200,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Net assets available for
benefits $1,521,243,386 $23,983,370 $48,360,569 $244,609,595 $21,318,878
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock<F*> $ -- $ -- $ -- $1,764,699,829
Interest bearing cash 15 3,850,362
U.S. government securities 28,844,849
Corporate debt instruments 38,796,768
Insurance contracts
Interest in common/
collective trusts 10,798,861 32,117,739
Loans to participants 83,211,937 83,211,937
Earthgrains Company, Inc.
common stock 35,407,087 35,407,087
Other Investments<F*> 10,800,360 -- 163,726 260,169,213
----------- ----------- ----------- --------------
Total investments 21,599,221 83,211,937 35,570,828 2,247,097,784
----------- ----------- ----------- --------------
Total assets 21,599,221 83,211,937 35,570,828 2,247,097,784
----------- ----------- ----------- --------------
LIABILITIES
Notes payable -- -- -- (247,200,000)
----------- ----------- ----------- --------------
Total liabilities -- -- -- (247,200,000)
----------- ----------- ----------- --------------
Net assets available for
benefits $21,599,221 $83,211,937 $35,570,828 $1,999,897,784
=========== =========== =========== ==============
<FN>
<F*> Represents more than 5% of net assets available for benefits
19
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION PAGE 3 of 4
FOR THE YEAR ENDED MARCH 31, 1999
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
- ----------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM EQUITY MANAGED
COMPANIES, INC. FIXED INCOME FIXED INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
Additions to net assets
attributed to:
Contributions:
Participants $56,239,131 $934,830 $2,369,554 $16,634,437 $1,670,801
Employer 4,569,194 -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total contributions 60,808,325 934,830 2,369,554 16,634,437 1,670,801
Investment income:
Interest 1,622,339 1,436,593 2,896,665 5,305,433 120
Dividends 38,905,478
Net realized and unrealized
appreciation in fair value
of investments 1,048,963,294 1,148,887 114,341 45,686,098 2,004,553
-------------- ----------- ----------- ------------ -----------
Total additions 1,150,299,436 3,520,310 5,380,560 67,625,968 3,675,474
-------------- ----------- ----------- ------------ -----------
Deductions from net assets
attributed to:
Distributions to participants 158,224,057 7,902,458 5,951,000 23,801,297 1,289,091
Interest expense 20,292,030
Administrative expenses 30,996 -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total deductions 178,547,083 7,902,458 5,951,000 23,801,297 1,289,091
-------------- ----------- ----------- ------------ -----------
Net transfers (out) in (13,247,324) 2,735,329 (2,413,697) 13,571,779 (144,437)
-------------- ----------- ----------- ------------ -----------
Net increase (decrease) 958,505,029 (1,646,819) (2,984,137) 57,396,450 2,241,946
Net assets available for
benefits:
Beginning of year 1,521,243,386 23,983,370 48,360,569 244,609,595 21,318,878
-------------- ----------- ----------- ------------ -----------
End of year $2,479,748,415 $22,336,551 $45,376,432 $302,006,045 $23,560,824
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
Additions to net assets attributed to:
Contributions:
Participants $1,453,067 $ -- $ -- $79,301,820
Employer -- -- -- 4,569,194
----------- ----------- ----------- --------------
Total contributions 1,453,067 -- -- 83,871,014
Investment income:
Interest 7,388,292 118 18,649,560
Dividends 209,769 39,115,247
Net realized and unrealized
appreciation in fair value
of investments 3,289,062 -- 1,575,592 1,102,781,827
----------- ----------- ----------- --------------
Total additions 4,742,129 7,388,292 1,785,479 1,244,417,648
----------- ----------- ----------- --------------
Deductions from net assets attributed to:
Distributions to participants 2,660,475 3,023,381 4,505,220 207,356,979
Interest expense 20,292,030
Administrative expenses -- -- -- 30,996
----------- ----------- ----------- --------------
Total deductions 2,660,475 3,023,381 4,505,220 227,680,005
----------- ----------- ----------- --------------
Net transfers (out) in 2,680,602 (408,000) (3,298,563) (524,311)
----------- ----------- ----------- --------------
Net increase (decrease) 4,762,256 3,956,911 (6,018,304) 1,016,213,332
Net assets available for benefits:
Beginning of year 21,599,221 83,211,937 35,570,828 1,999,897,784
----------- ----------- ----------- --------------
End of year $26,361,477 $87,168,848 $29,552,524 $3,016,111,116
=========== =========== =========== ==============
20
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION PAGE 4 of 4
FOR THE YEAR ENDED MARCH 31, 1999
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
- ----------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM EQUITY MANAGED
COMPANIES, INC. FIXED INCOME FIXED INCOME INDEX BALANCED
STOCK FUND FUND FUND FUND FUND
Additions to net assets attributed to:
Contributions:
Participants $59,963,043 $1,211,998 $2,770,456 $11,176,034 $1,497,754
Employer 15,491,761 -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total contributions 75,454,804 1,211,998 2,770,456 11,176,034 1,497,754
Investment income:
Interest 885,882 1,004,353 2,840,890 2,800,378
Dividends 41,728,864
Net realized and unrealized
appreciation in fair value
of investments 178,962,138 29,847 1,391,974 50,332,246 3,829,723
-------------- ----------- ----------- ------------ -----------
Total additions 297,031,688 2,246,198 7,003,320 64,308,658 5,327,477
-------------- ----------- ----------- ------------ -----------
Deductions from net assets
attributed to:
Distributions to participants 107,016,259 4,258,766 2,520,682 8,076,962 1,164,839
Interest expense 23,273,250
Administrative expenses 15,815 -- (11,148) -- --
-------------- ----------- ----------- ------------ -----------
Total deductions 130,305,324 4,258,766 2,509,534 8,076,962 1,164,839
-------------- ----------- ----------- ------------ -----------
Net transfers (out) in (127,872,328) 10,427,353 (884,170) 101,497,681 6,349,379
-------------- ----------- ----------- ------------ -----------
Net increase 38,854,036 8,414,785 3,609,616 157,729,377 10,512,017
Net assets available for benefits:
Beginning of year 1,482,389,350 15,568,585 44,750,953 86,880,218 10,806,861
-------------- ----------- ----------- ------------ -----------
End of year $1,521,243,386 $23,983,370 $48,360,569 $244,609,595 $21,318,878
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED PARTICIPANT COMPANY
FUND LOANS STOCK FUND TOTAL
Additions to net assets attributed to:
Contributions:
Participants 1,149,033 $ -- $ -- $77,768,318
Employer -- -- -- 15,491,761
----------- ----------- ----------- --------------
Total contributions 1,149,033 -- -- 93,260,079
Investment income:
Interest 125,864 7,003,752 716 14,661,835
Dividends 151,586 41,880,450
Net realized and unrealized
appreciation in fair value
of investments 2,946,651 -- 17,367,264 254,859,843
----------- ----------- ----------- --------------
Total additions 4,221,548 7,003,752 17,519,566 404,662,207
----------- ----------- ----------- --------------
Deductions from net assets
attributed to:
Distributions to participants 807,207 3,382,436 2,784,896 130,012,047
Interest expense 23,273,250
Administrative expenses -- -- (15) 4,652
----------- ----------- ----------- --------------
Total deductions 807,207 3,382,436 2,784,881 153,289,949
----------- ----------- ----------- --------------
Net transfers (out) in 10,428,344 3,410,799 (3,234,526) 122,532
----------- ----------- ----------- --------------
Net increase 13,842,685 7,032,115 11,500,159 251,494,790
Net assets available for benefits:
Beginning of year 7,756,536 76,179,822 24,070,669 1,748,402,994
----------- ----------- ----------- --------------
End of year $21,599,221 $83,211,937 $35,570,828 $1,999,897,784
=========== =========== =========== ==============