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TABLE D11

Balance Sheet of Employee Stock Ownership Plans (ESOPs) with 100 or More Participants
by leveraged status, 1994
(amounts in millions)
Type of Asset or Liability Total ESOPs Nonleveraged ESOPs Leveraged ESOPs

ASSETS
Receivables
Employer contributions $2,043 $948 $1,095
Participant contributions 246 73 173
Income receivables 512 94 419
Other receivables 862 109 753
Less allowance for doubtful accounts 1/ 0 1/
Total receivables (net) 3,664 1,224 2,440

General Investments
Interest-bearing cash 2,282 1,066 1,216
Certificates of deposit 256 35 221
U.S. Government securities 3,915 624 3,291
Corporate debt instruments: Preferred 3,737 300 3,437
Corporate debt instruments: All other 570 85 486
Preferred stock 6,801 4,952 1,850
Common stock 21,795 9,612 12,183
Partnership/joint venture interests 26 24 2
Income-producing real estate 17 16 1
Nonincome-producing real estate 5 3 2
Residential loans (other than to participants) secured by mortgages 3 3 1/
Commercial loans secured by mortgages 70 69 1
Mortgage loans to participants 39 10 29
Other loans to participants 3,213 619 2,594
Other loans 2 1 1
Value of interest in common/collective trusts 9,671 2,551 7,120
Value of interest in pooled separate accounts 867 193 674
Value of interest in master trusts 46,129 8,232 37,896
Value of interest in 103-12 investment entities 82 82 1/
Value of interest in registered investment companies 8,288 2,155 6,133
Value of funds held in insurance company general account 14,563 2,341 12,223
Other or unspecified general investments 4,054 1,573 2,481
Total general investments 126,386 34,544 91,841
Employer securities 86,391 22,508 63,883
Employer real property 21 4 17
Unspecified investments 1/ 1/ 1/
Total noninterest-bearing cash 80 25 55
Buildings and other property used in plan operations 0 0 0
TOTAL ASSETS 216,541 58,305 158,236

LIABILITIES
Benefit claims payable 1,154 565 589
Operating payables 1,786 47 1,739
Acquisition indebtedness 16,039 2,917 13,123
Other liabilities 13,563 1,094 12,469
TOTAL LIABILITIES 32,543 4,622 27,920

NET ASSETS

183,999

53,683

130,316

1/Less than $500,000.

NOTE: Total asset amounts shown exclude funds held by life insurance companies under allocated group insurance contracts for payment of retirement benefits. These funds make up roughly 10 to 15 percent of total pension fund assets.

SOURCE: Form 5500 series reports filed with the Internal Revenue Service for 1994 plan years.

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