Exhibit 99.4
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, 2002
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 Certain Hourly Employees of Anheuser-Busch Companies, Inc.
and its Subsidiaries)
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
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) Report of Independent Accountants
Financial Statements:
Statement of Net Assets Available for Benefits
Statement of Changes in Net Assets Available for Benefits
Notes to Financial Statements
Additional Information*:
Anheuser-Busch Companies, Inc. Defined Contribution Master
Trust Statement of Net Assets Available for Benefits with Fund
Information and Statement of Changes in Net Assets Available for
Benefits with Fund Information
Anheuser-Busch Companies, Inc. Defined Contribution Master
Trust Statement of Changes in Net Assets Available for
Benefits with Fund Information
(b) Exhibits:
None
<FN>
*Schedules required by 29 CFR 2520.103-10 of the Department of
Labor's Rules and Regulations for Reporting and Disclosure under ERISA
have been omitted because they are not applicable.
2
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 CERTAIN
HOURLY EMPLOYEES OF ANHEUSER-BUSCH
COMPANIES, INC. AND ITS SUBSIDIARIES)
By: /s/ J. TIMOTHY FARRELL
--------------------------------------
J. Timothy Farrell
Vice President,
Employee Benefits
Dated: September 27, 2002
3
[PRICEWATERHOUSECOOPERS LOGO]
PricewaterhouseCoopers LLP
800 Market Street
St. Louis, MO 63101
Telephone (314) 206 8500
REPORT OF INDEPENDENT ACCOUNTANT
To the Participants and Administrator
of the Anheuser-Busch Deferred Income
Stock Purchase and Savings Plan (For Certain Hourly
Employees of Anheuser-Busch Companies, Inc. and its
Subsidiaries)
In our opinion, the accompanying statement of net assets available for
benefits and the related statement of changes in net assets available for
benefits present fairly, in all material respects, the net assets available
for benefits of the Anheuser-Busch Deferred Income Stock Purchase and
Savings Plan (For Certain Hourly Employees of Anheuser-Busch Companies, Inc.
and its Subsidiaries) (the "Plan"), at March 31, 2002 and 2001, and the
changes in net assets available for benefits for the years then ended, in
conformity with accounting principles generally accepted in the United
States of America. 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 auditing standards generally accepted in the
United States of America, 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 our opinion.
/s/ PricewaterhouseCoopers LLP
August 23, 2002
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
MARCH 31,
2002 2001
ASSETS
Contributions receivable:
Participants $ 148,292 $ 135,980
Employer 1,525,833 1,254,408
----------- ------------
1,674,125 1,390,388
Interest in Master Trust 73,500,762 61,723,177
----------- ------------
Total assets 75,174,887 63,113,565
----------- ------------
LIABILITIES
Due to broker for securities purchased (53,164) (92,288)
----------- ------------
Total liabilities (53,164) (92,288)
----------- ------------
Net assets available for benefits $75,121,723 $ 63,021,277
=========== ============
The accompanying notes are an integral part of these financial statements.
-2-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
FOR THE YEAR ENDED
MARCH 31,
2002 2001
Additions to net assets attributed to:
Contributions:
Participants $ 3,778,617 $ 3,369,928
Employer 3,699,261 3,306,796
----------- -----------
Total contributions 7,477,878 6,676,724
Investment income:
Net realized and unrealized appreciation
in fair value of investments 8,855,354 16,175,000
Interest 361,468 322,471
----------- -----------
Total additions 16,694,700 23,174,195
----------- -----------
Deductions from net assets attributed to:
Distributions to participants 4,583,569 2,830,603
----------- -----------
Net increase 12,111,131 20,343,592
Net transfers out (10,685) (1,356,994)
Net assets available for benefits:
Beginning of year 63,021,277 44,034,679
----------- -----------
End of year $75,121,723 $63,021,277
=========== ===========
The accompanying notes are an integral part of these financial statements.
-3-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- ------------------------------------------------------------------------------
1. DESCRIPTION OF THE PLAN
GENERAL
The Anheuser-Busch Deferred Income Stock Purchase and Savings Plan
(For Certain Hourly Employees of Anheuser-Busch Companies, Inc. and
its Subsidiaries) (the Plan) was established as a result of an
amendment to the Anheuser-Busch Deferred Income Stock Purchase and
Savings Plan for salaried employees, which was effective April 1,
1992. The following 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 Anheuser-Busch Companies, Inc.
(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 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.
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 decreasing vesting period from three years
to two years.
Effective April 1, 2000, the Plan was amended to incorporate
various changes to the Plan, including the addition of the
Small/Mid Cap Stock Index Fund and International Stock Index Fund,
the renaming of the Equity Index Fund to the Large Cap Stock Index
Fund, and the acceptance of rollover contributions into the Plan.
During 2002, the Plan was amended to incorporate various changes to
the Plan, including, among other things, the election by
participants, who meet certain requirements, to either receive
dividends on the allocated shares of Company stock in cash or to
direct the dividends to be reinvested in Company stock within the
Plan.
PLAN PARTICIPATION
The Plan covers eligible hourly employees of certain subsidiaries
of the Company which include: Busch Entertainment Corporation;
Busch Properties of Florida, Inc.; Sea World, Inc.; Sea World of
Florida, Inc.; and Sea World of Texas, Inc. Each hourly employee
(other than employees covered by a collective bargaining
agreement) of the above subsidiaries is eligible to participate in
the Plan after completing one year of service, in which 1,000
hours of service are completed. Participation by eligible
employees is voluntary.
-4-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
CONTRIBUTIONS
A participant may make matched and unmatched contributions. Both
matched and unmatched contributions may be before-tax or 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 1% 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 Matched and
Unmatched Contributions 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 100% of
the aggregate participant contributions.
The Company may also be required to make a Supplemental
Contribution in accordance with the Plan document. Supplemental
Contributions are payable within 180 days of the Plan's year end
and are allocated to participants who have account balances as of
the end of the Plan year. For the years ended March 31, 2002 and
2001, a Supplemental Contribution of $1,425,285 and $1,168,595 was
required, respectively.
Employee contributions vest and become non-forfeitable
immediately. Company contributions for participants actively
employed by the Company on or prior to March 31, 1991 vest
immediately. For participants subsequently employed, Company
contributions vest and become non-forfeitable after two years of
service. Company contributions also vest 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 by the Plan. Forfeitures of nonvested balances reduce
future employer contributions. There were $7,218 and $5,639 in
forfeitures during the years ended March 31, 2002 and 2001,
respectively.
INVESTMENTS
The Trustee maintains an Anheuser-Busch Companies, Inc. Stock Fund,
a Short-Term Fixed Income Fund, a Medium-Term Fixed Income Fund, a
Large Cap Index Fund, a Managed Balanced Fund, an Index Balanced
Fund, a Small/Mid Cap Stock Index Fund, and an International Stock
Index 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 both
Before-Tax and 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
contribution and all of the unmatched contributions in increments
of 1% into any fund established under the Plan. Earnings are
reinvested in the fund to which they relate.
-5-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- ------------------------------------------------------------------------------
The Anheuser-Busch Companies, Inc. Defined Contribution Master
Trust (Master Trust) has been established for each of the
investment funds for the investment of the Plan's assets and the
assets of the stock purchase and savings plans sponsored by the
Company.
DISTRIBUTIONS
The Plan permits in-service withdrawals as defined in the Plan
document, subject to certain restrictions. Distributions for
terminations are comprised of the participant's personal
contribution portion and the vested Company contribution portion of
their account. Distributions for whole numbers of shares held in
the Company stock fund 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 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 subject to certain conditions. 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 is set quarterly
at prime plus one percentage point 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 are paid by the Plan.
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 the Employee Retirement
Income Securities Act of 1974 (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.
-6-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- ------------------------------------------------------------------------------
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
accounting principles generally accepted in the United States of
America, requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and
disclosure of contingent 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, interests in common/collective
trusts, and interests in registered investment companies 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 risk. 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.
SECURITY TRANSACTIONS AND INVESTMENT INCOME
Investment purchases and sales, and related realized gains or
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/depreciation 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 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.
DISTRIBUTIONS TO PARTICIPANTS
Distributions are recorded when paid.
-7-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
3. INTERESTS IN ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION
MASTER TRUST
Effective September 1, 1995 the Company and the Trustee entered
into a new master trust agreement. In accordance with the
agreement, the Plan exchanged its 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 added to the Anheuser-Busch Companies, Inc. Defined
Contribution Master Trust. The Earthgrains Company Stock Fund was
liquidated on August 10, 2001 as a result of Earthgrains Company
being purchased by Sara Lee Corporation. Effective December 1, 2000
the Small/Mid Cap Stock Index Fund and the International Stock
Index Fund were added to the Anheuser-Busch Companies, Inc. Defined
Contribution Master Trust. The assets of the Master Trust are held
by Mellon Bank, N.A.
At March 31, 2002 and 2001, the Plan's interest in the net assets
of the Master Trust was approximately 2% of total Master Trust
assets.
The following table presents the fair value of investments for the
Master Trust:
MARCH 31,
2002 2001
Investments at fair value:
Anheuser-Busch common stock* $3,211,757,063 $2,951,379,995
Short-term fixed income 46,050,681 34,545,406
Medium-term fixed income 71,806,352 46,401,988
Large cap index* 215,527,035 222,615,011
Managed balanced 22,561,692 20,518,875
Index balanced 23,930,968 21,179,199
Small/Mid cap index 24,017,018 7,132,411
International stock index 6,718,955 3,660,448
Participant loans 96,345,528 91,422,775
Earthgrains Company common stock - 20,085,877
-------------- --------------
$3,718,715,292 $3,418,941,985
============== ==============
<FN>
* Represents more than 5% of net assets available for benefits.
-8-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
Investment income for the Master Trust is as follows:
YEAR ENDED MARCH 31,
2002 2001
Net appreciation (depreciation) in fair value
of investments:
Anheuser-Busch common stock $257,753,705 $944,625,016
Short-term fixed income 54,015 499,922
Medium-term fixed income 2,486,570 4,330,094
Large cap index (2,732,925) (66,014,432)
Managed balanced 800,358 (2,136,459)
Index balanced 649,969 (1,609,721)
Small/Mid cap index 1,385,927 (1,204,398)
International stock (242,676) (242,359)
Earthgrains Company common stock 16,838,853 6,709,053
------------ ------------
276,993,796 884,956,716
------------ ------------
Interest 13,893,816 15,796,194
Dividends 43,112,048 41,538,499
------------ ------------
$333,999,660 $942,291,409
============ ============
Further financial information for the Anheuser-Busch Companies,
Inc. Defined Contribution Master Trust as of and for the years
ended March 31, 2002 and 2001 are included as Appendix A and B.
4. FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the
Company by a letter dated November 29, 2001, that the Plan is
designed in accordance with applicable sections of the Internal
Revenue Code subject to the adoption of certain amendments. During
2002 the Plan has been amended to adopt all such amendments.
Therefore, the underlying trust of such a Plan is exempt from
federal income taxes under Section 501 of the Internal Revenue Code
and no provision for income taxes has been included in the Plan's
financial statements.
-9-
ANHEUSER-BUSCH DEFERRED INCOME STOCK
PURCHASE AND SAVINGS PLAN
(FOR CERTAIN HOURLY EMPLOYEES OF ANHEUSER-BUSCH COMPANIES, INC.
AND ITS SUBSIDIARIES)
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2002 AND 2001
- -------------------------------------------------------------------------------
5. RECONCILIATION OF FINANCIAL STATEMENTS TO 5500
The following is a reconciliation of net assets available for
benefits per the financial statements at March 31, 2002 and 2001 to
the Plan's Form 5500:
2002 2001
Net assets available for benefits per the
financial statements $75,721,723 $63,021,277
Amounts allocated to withdrawing participants (285,732) (86,183)
----------- -----------
Net assets available for benefits per the Form 5500 $75,435,991 $62,935,094
=========== ===========
The following is a reconciliation of benefits paid to participants
per the financial statements for the year ended March 31, 2002 to
the Plan's Form 5500:
2002
Benefits paid to participants per the
financial statements $4,583,569
Add: Amounts allocated to withdrawing
participants at March 31, 2002 285,732
Deduct: Amounts allocated to withdrawing
participant as of March 31, 2001 (86,183)
----------
Benefits paid to participants per Form 5500 $4,783,118
==========
Amounts allocated to withdrawing participants are recorded on the
Form 5500 for benefit claims that have been processed and approved
for payment prior to March 31, 2002, but not yet paid as of that
date.
6. TRANSACTIONS WITH PARTIES-IN-INTEREST
During the years ended March 31, 2002 and 2001, transactions with
the Company included aggregate common stock purchases totaling
$1,897,235 and $1,808,209, respectively and aggregate common stock
sales totaling $473,320 and $949,098, 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, 2002 and 2001, 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 $1,741,124
and $1,944,381, respectively and aggregate investment sales
totaling $1,687,824 and $1,985,636, respectively. These
transactions are allowable party-in-interest transactions under
Sections 408(e) and 408(b)(8) of ERISA and the regulations
promulgated thereunder.
-10-
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
PAGE 1 OF 2
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
MARCH 31, 2002
- ------------------------------------------------------------------------------------------------------------------------------------
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* $3,131,769,304 $ -- $ -- $ -- $ --
Interest bearing cash 79,987,759 11,468,769 -- -- --
U.S. government securities -- 3,774,804 -- -- --
Corporate debt instruments -- 29,629,196 -- -- --
Insurance contracts -- -- 71,806,352 -- 22,561,692
Interest in common/
collective trusts -- -- -- -- --
Interest in registered
investment companies -- -- -- -- --
Loans to participants -- -- -- -- --
Earthgrains Company, Inc.
common stock -- -- -- -- --
Other investments* -- 1,177,912 -- 215,527,035 --
-------------- ----------- ----------- ------------ -----------
Total investments 3,211,757,063 46,050,681 71,806,352 215,527,035 22,561,692
-------------- ----------- ----------- ------------ -----------
Total assets 3,211,757,063 46,050,681 71,806,352 215,527,035 22,561,692
-------------- ----------- ----------- ------------ -----------
LIABILITIES
Due to broker for securities
purchased -- (2,635,397) (142,203) (483,078) --
Interest payable (5,453,250) -- -- -- --
Notes payable (132,200,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total liabilities (137,653,250) (2,635,397) (142,203) (483,078) --
-------------- ----------- ----------- ------------ -----------
Net assets available for benefits $3,074,103,813 $43,415,284 $71,664,149 $215,043,957 $22,561,692
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED SMALL/MID INTERNATIONAL PARTICIPANT COMPANY
FUND CAP FUND STOCK FUND LOAN FUND STOCK FUND TOTAL
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock* $ -- $ -- $ -- $ -- $ -- $3,131,769,304
Interest bearing cash -- -- -- -- -- 91,456,528
U.S. government securities -- -- -- -- -- 3,774,804
Corporate debt instruments -- -- -- -- -- 29,629,196
Insurance contracts -- -- -- -- -- 94,368,044
Interest in common/
collective trusts 21,495,474 24,017,018 -- -- -- 45,512,492
Interest in registered
investment companies 2,435,494 -- 6,718,955 -- -- 9,154,449
Loans to participants -- -- -- 96,345,528 -- 96,345,528
Earthgrains Company, Inc.
common stock -- -- -- -- -- --
Other investments* -- -- -- -- -- 216,704,947
----------- ----------- ---------- ----------- ----------- --------------
Total investments 23,930,968 24,017,018 6,718,955 96,345,528 -- 3,718,715,292
----------- ----------- ---------- ----------- ----------- --------------
Total assets 23,930,968 24,017,018 6,718,955 96,345,528 -- 3,718,715,292
----------- ----------- ---------- ----------- ----------- --------------
LIABILITIES
Due to broker for securities
purchased (68,435) (61,948) (22,363) -- -- (3,413,424)
Interest payable -- -- -- -- -- (5,453,250)
Notes payable -- -- -- -- -- (132,200,000)
----------- ----------- ---------- ----------- ----------- --------------
Total liabilities (68,435) (61,948) (22,363) -- -- (141,066,674)
----------- ----------- ---------- ----------- ----------- --------------
Net assets available for benefits $23,862,533 $23,955,070 $6,696,592 $96,345,528 $ -- $3,577,648,618
=========== =========== ========== =========== =========== ==============
<FN>
* Represents more than 5% of net assets available for benefits
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX A
PAGE 2 OF 2
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
MARCH 31, 2001
- ------------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM LARGE MANAGED
COMPANIES, INC. FIXED INCOME FIXED INCOME CAP BALANCED
STOCK FUND FUND FUND FUND FUND
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock* $2,882,256,925 $ -- $ -- $ -- $ --
Interest bearing cash 69,123,070 -- -- -- --
U.S. government securities -- 16,455,200 -- -- --
Corporate debt instruments -- 15,396,224 -- -- --
Insurance contracts -- -- 46,401,988 -- 20,518,875
Interest in common/
collective trusts -- -- -- -- --
Interest in registered
investment companies -- -- -- -- --
Loans to participants -- -- -- -- --
Earthgrains Company, Inc.
common stock -- -- -- -- --
Other investments* -- 2,693,982 -- 222,615,011 --
-------------- ----------- ----------- ------------ -----------
Total investments 2,951,379,995 34,545,406 46,401,988 222,615,011 20,518,875
-------------- ----------- ----------- ------------ -----------
Total assets 2,951,379,995 34,545,406 46,401,988 222,615,011 20,518,875
-------------- ----------- ----------- ------------ -----------
LIABILITIES
Due to broker for securities
purchased -- (3,311,840) (76,243) (564,112) (60,183)
Interest payable (7,103,250) -- -- -- --
Notes payable (172,200,000) -- -- -- --
-------------- ----------- ----------- ------------ -----------
Total liabilities (179,303,250) (3,311,840) (76,243) (564,112) (60,183)
-------------- ----------- ----------- ------------ -----------
Net assets available for benefits $2,772,076,745 $31,233,566 $46,325,745 $222,050,899 $20,458,692
============== =========== =========== ============ ===========
INDEX EARTHGRAINS
BALANCED SMALL/MID INTERNATIONAL PARTICIPANT COMPANY
FUND CAP FUND STOCK FUND LOAN FUND STOCK FUND TOTAL
ASSETS
Investments, at fair value:
Anheuser-Busch Companies,
Inc. Common Stock* $ -- $ -- $ -- $ -- $ -- $2,882,256,925
Interest bearing cash -- -- 607 -- 185 69,123,862
U.S. government securities -- -- -- -- -- 16,455,200
Corporate debt instruments -- -- -- -- -- 15,396,224
Insurance contracts -- -- -- -- -- 66,920,863
Interest in common/
collective trusts 19,042,785 7,132,411 -- -- -- 26,175,196
Interest in registered
investment companies 2,136,414 -- 3,659,841 -- -- 5,796,255
Loans to participants -- -- -- 91,422,775 -- 91,422,775
Earthgrains Company, Inc.
common stock -- -- -- -- 19,989,407 19,989,407
Other investments* -- -- -- -- 96,285 225,405,278
----------- ---------- ---------- ----------- ----------- --------------
Total investments 21,179,199 7,132,411 3,660,448 91,422,775 20,085,877 3,418,941,985
----------- ---------- ---------- ----------- ----------- --------------
Total assets 21,179,199 7,132,411 3,660,448 91,422,775 20,085,877 3,418,941,985
----------- ---------- ---------- ----------- ----------- --------------
LIABILITIES
Due to broker for securities
purchased (59,182) (28,867) (13,353) -- -- (4,113,780)
Interest payable -- -- -- -- -- (7,103,250)
Notes payable -- -- -- -- -- (172,200,000)
----------- ---------- ---------- ----------- ----------- --------------
Total liabilities (59,182) (28,867) (13,353) -- -- (183,417,030)
----------- ---------- ---------- ----------- ----------- --------------
Net assets available for benefits $21,120,017 $7,103,544 $3,647,095 $91,422,775 $20,085,877 $3,235,524,955
=========== ========== ========== =========== =========== ==============
<FN>
* Represents more than 5% of net assets available for benefits
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX B
PAGE 1 OF 2
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED MARCH 31, 2002
- ------------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM EQUITY MANAGED INDEX
COMPANIES, INC. FIXED INCOME FIXED INCOME INDEX BALANCED BALANCED
STOCK FUND FUND FUND FUND FUND FUND
Additions to net assets attributed to:
Contributions:
Participants $ 67,280,795 $ 1,171,738 $ 2,470,907 $ 13,361,951 $ 1,315,308 $ 1,464,603
Employer 20,224,754 -- -- -- -- --
Rollovers -- 3,483,034 -- -- -- --
-------------- ----------- ----------- ------------ ----------- -----------
Total contributions 87,505,549 4,654,772 2,470,907 13,361,951 1,315,308 1,464,603
Investment income:
Interest 1,723,511 1,233,264 -- 3,044,591 -- 8
Dividends 43,057,554 -- -- -- -- --
Net realized and unrealized
appreciation in fair value
of investments 257,753,705 54,015 2,486,570 (2,732,925) 800,358 649,969
-------------- ----------- ----------- ------------ ----------- -----------
Total additions 390,040,319 5,942,051 4,957,477 13,673,617 2,115,666 2,114,580
-------------- ----------- ----------- ------------ ----------- -----------
Deductions from net assets attributed to:
Distributions to participants 163,635,382 7,604,049 4,312,576 13,173,008 1,087,587 1,593,147
Interest expense 10,906,500 -- -- -- -- --
Administrative expenses 66,193 -- -- -- -- --
-------------- ----------- ----------- ------------ ----------- -----------
Total deductions 174,608,075 7,604,049 4,312,576 13,173,008 1,087,587 1,593,147
Net transfers in (out) 86,594,824 13,843,716 24,693,503 (7,507,551) 1,074,921 2,221,083
-------------- ----------- ----------- ------------ ----------- -----------
Net increase (decrease) 302,027,068 12,181,718 25,338,404 (7,006,942) 2,103,000 2,742,516
Net assets available for benefits:
Beginning of year 2,772,076,745 31,233,566 46,325,745 222,050,899 20,458,692 21,120,017
-------------- ----------- ----------- ------------ ----------- -----------
End of year $3,074,103,813 $43,415,284 $71,664,149 $215,043,957 $22,561,692 $23,862,533
============== =========== =========== ============ =========== ===========
EARTHGRAINS
SMALL/MID INTERNATIONAL PARTICIPANT COMPANY
CAP FUND STOCK FUND LOAN FUND STOCK FUND TOTAL
Additions to net assets attributed to:
Contributions:
Participants $ 1,062,102 $ 404,928 $ -- $ -- $ 88,532,332
Employer -- -- -- -- 20,224,754
Rollovers -- -- -- -- 3,483,034
----------- ---------- ----------- ------------ --------------
Total contributions 1,062,102 404,928 -- -- 112,240,120
Investment income:
Interest -- -- 7,881,209 11,233 13,893,816
Dividends -- -- -- 54,494 43,112,048
Net realized and unrealized
appreciation in fair value
of investments 1,385,927 (242,676) -- 16,838,853 276,993,796
----------- ---------- ----------- ------------ --------------
Total additions 2,448,029 162,252 7,881,209 16,904,580 446,239,780
----------- ---------- ----------- ------------ --------------
Deductions from net assets attributed to:
Distributions to participants 651,566 280,125 1,906,150 991,197 195,234,787
Interest expense -- -- -- -- 10,906,500
Administrative expenses -- -- -- -- 66,193
----------- ---------- ----------- ------------ --------------
Total deductions 651,566 280,125 1,906,150 991,197 206,207,480
Net transfers in (out) 15,055,063 3,167,370 (1,052,306) (35,999,260) 102,091,363
----------- ---------- ----------- ------------ --------------
Net increase (decrease) 16,851,526 3,049,497 4,922,753 (20,085,877) 342,123,663
Net assets available for benefits:
Beginning of year 7,103,544 3,647,095 91,422,775 20,085,877 3,235,524,955
----------- ---------- ----------- ------------ --------------
End of year $23,955,070 $6,696,592 $96,345,528 $ -- $3,577,648,618
=========== ========== =========== ============ ==============
ANHEUSER-BUSCH DEFERRED INCOME STOCK PURCHASE AND SAVINGS PLAN APPENDIX B
PAGE 2 OF 2
ANHEUSER-BUSCH COMPANIES, INC. DEFINED CONTRIBUTION MASTER TRUST
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED MARCH 31, 2001
- ------------------------------------------------------------------------------------------------------------------------------------
ANHEUSER-BUSCH SHORT-TERM MEDIUM-TERM LARGE MANAGED INDEX
COMPANIES, INC. FIXED INCOME FIXED INCOME CAP BALANCED BALANCED
STOCK FUND FUND FUND FUND FUND FUND
Additions to net assets attributed to:
Contributions:
Participants $ 61,477,474 $ 893,149 $ 1,784,261 $ 15,692,287 $ 1,471,792 $ 1,463,397
Employer 2,928,923 -- -- -- -- --
Rollovers 139,459 449,907 3,089 31,479 7,351 10,879
-------------- ----------- ----------- ------------ ----------- -----------
Total contributions 64,545,856 1,343,056 1,787,350 15,723,766 1,479,143 1,474,276
Investment income:
Interest 2,926,612 1,660,261 14,717 3,774,531 -- --
Dividends 41,304,515 -- -- -- -- --
Net realized and unrealized
appreciation in fair value
of investments 944,625,016 499,922 4,330,094 (66,014,432) (2,136,459) (1,609,721)
-------------- ----------- ----------- ------------ ----------- -----------
Total additions 1,053,401,999 3,503,239 6,132,161 (46,516,135) (657,316) (135,445)
-------------- ----------- ----------- ------------ ----------- -----------
Deductions from net assets attributed to:
Distributions to participants 195,569,578 6,923,100 4,124,310 29,342,206 2,291,390 4,074,530
Interest expense 14,206,500 -- -- -- -- --
Administrative expenses 47,123 -- -- -- -- --
-------------- ----------- ----------- ------------ ----------- -----------
Total deductions 209,823,201 6,923,100 4,124,310 29,342,206 2,291,390 4,074,530
Net increase (decrease) 843,578,798 (3,419,861) 2,007,851 (75,858,341) (2,948,706) (4,209,975)
Net transfers in (out) (16,481,507) 16,495,086 10,007,803 (14,708,731) (85,252) 714,732
-------------- ----------- ----------- ------------ ----------- -----------
Net assets available for benefits:
Beginning of year 1,944,979,454 18,158,341 34,310,091 312,617,971 23,492,650 24,615,260
-------------- ----------- ----------- ------------ ----------- -----------
End of year $2,772,076,745 $31,233,566 $46,325,745 $222,050,899 $20,458,692 $21,120,017
============== =========== =========== ============ =========== ===========
EARTHGRAINS
SMALL/MID INTERNATIONAL PARTICIPANT COMPANY
CAP FUND STOCK FUND LOAN FUND STOCK FUND TOTAL
Additions to net assets attributed to:
Contributions:
Participants $ 113,841 $ 53,743 $ -- $ -- $ 82,949,944
Employer -- -- -- -- 2,928,923
Rollovers -- -- -- -- 642,164
----------- ---------- ----------- ----------- --------------
Total contributions 113,841 53,743 -- -- 86,521,031
Investment income:
Interest -- 6 7,419,696 371 15,796,194
Dividends -- -- -- 233,984 41,538,499
Net realized and unrealized
appreciation in fair value
of investments (1,204,398) (242,359) -- 6,709,053 884,956,716
----------- ---------- ----------- ----------- --------------
Total additions (1,090,557) (188,610) 7,419,696 6,943,408 1,028,812,440
----------- ---------- ----------- ----------- --------------
Deductions from net assets attributed to:
Distributions to participants 37,583 1,170 1,109,272 2,012,738 245,485,877
Interest expense -- -- -- -- 14,206,500
Administrative expenses -- -- -- -- 47,123
----------- ---------- ----------- ----------- --------------
Total deductions 37,583 1,170 1,109,272 2,012,738 259,739,500
Net increase (decrease) (1,128,140) (189,780) 6,310,424 4,930,670 769,072,940
Net transfers in (out) 8,231,684 3,836,875 (4,102,576) (1,666,189) 2,241,925
----------- ---------- ----------- ----------- --------------
Net assets available for benefits:
Beginning of year -- -- 89,214,927 16,821,396 2,464,210,090
----------- ---------- ----------- ----------- --------------
End of year $ 7,103,544 $3,647,095 $91,422,775 $20,085,877 $3,235,524,955
=========== ========== =========== =========== ==============