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| Income Statement of Employee Stock Ownership Plans (ESOPs) with 100 or More Participants by leveraged status, 1994 (amounts in millions) | |||
| Income and Expenses | Total ESOPs | Nonleveraged ESOPs | Leveraged ESOPs |
INCOME | |||
| Contributions received or receivable from: | |||
| Employers | $7,126 | $2,177 | $4,949 |
| Participants | 7,495 | 1,822 | 5,673 |
| Others | 258 | 49 | 210 |
| Noncash contributions | 269 | 117 | 151 |
| Total contributions | 15,148 | 4,165 | 10,983 |
Interest earnings | |||
| Interest-bearing cash | 669 | 227 | 442 |
| Certificates of deposit | 16 | 5 | 11 |
| U.S. Government securities | 226 | 39 | 187 |
| Corporate debt instruments | 217 | 16 | 202 |
| Mortgage loans | 3 | 1 | 1 |
| Other loans | 182 | 33 | 149 |
| Other or unspecified interest | 820 | 154 | 666 |
| Total interest earnings | 2,133 | 476 | 1,657 |
Dividends | |||
| Preferred stock | 1,023 | 95 | 928 |
| Common stock | 2,841 | 890 | 1,951 |
| Total dividend income | 3,863 | 985 | 2,879 |
| Rents | (2) | (2) | 1/ |
| Net gain (loss) on sale of assets | 1,444 | 146 | 1,298 |
| Unrealized appreciation (depreciation) of assets | (1,091) | 1,365 | (2,456) |
| Net investment gain (loss) from common/collective trusts | 292 | 11 | 281 |
| Net investment gain (loss) from pooled separate accounts | 8 | 3 | 5 |
| Net investment gain (loss) from master trusts | 1,569 | (86) | 1,655 |
| Net investment gain (loss) from 103-12 investment entities | 1/ | 1/ | 0 |
| Net investment gain (loss) from registered investment companies | 296 | 42 | 253 |
| Other or unspecified income | 793 | 64 | 729 |
| TOTAL INCOME | 24,454 | 7,169 | 17,285 |
EXPENSES | |||
| Benefit payments and payments to provide benefits | |||
| Direct benefits | 15,020 | 4,908 | 10,112 |
| Payments to insurance carriers | 3 | 2 | 1 |
| Other benefits | 462 | 114 | 348 |
| Total payments | 15,486 | 5,024 | 10,461 |
| Interest expense | 2,363 | 310 | 2,053 |
Administrative expenses | |||
| Salaries and allowances | 5 | 1 | 4 |
| Accounting fees | 3 | 1 | 2 |
| Actuarial fees | 1 | 1/ | 1/ |
| Contract administrator fees | 14 | 4 | 11 |
| Investment advisory and management fees | 25 | 9 | 16 |
| Legal fees | 3 | 1 | 2 |
| Valuation/appraisal fees | 1 | 1 | 1 |
| Trustee fees/expenses | 31 | 9 | 23 |
| Other administrative expenses | 114 | 17 | 98 |
| Total administrative expenses | 198 | 42 | 156 |
| Other or unspecified expenses | 6 | 6 | 1/ |
| TOTAL EXPENSES | 18,052 | 5,383 | 12,669 |
NET INCOME | 6,402 | 1,786 | 4,616 |
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1/Less than $500,000 SOURCE: Form 5500 series reports filed with the Internal Revenue Service for 1994 plan years. |
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