08/20/91 16 _;0 V502 663 8W W TOBACCO --- BAT :14DSOR 2 (KI 1 /00 1
BROWN & %V1LLLkMSON1'
TOWCO CORPOX4170%,
August 20, 1991 Via Fax
TO: R. DESMOND
FROM: C. D, nWCESCONT
SUIV: ADDITIONAL CONTRIBUTION TO
SWS PENSION FUND
You asked for, some additional inforzation concerning the
accounting treatment of the proposed additional contribution to
the BsW qualified pension tundo. on a consolidated basin, AKTUS
Holdings, Inc. carries a not &soot an its balance sba*t
(classified as "Sundry Debtors") which includes the not
avorfQndinq of its qualified pension plans. This net overfunding
is primarily a result of the BATUS restructuring and its effect
on the retail companies I retirement. plans.
when making the additional contribution, Blow will Invar
additional borrowings from B.A.T Capital Corporation since BW
has no cash of its own. The BATUS Holdings, Inc. consolidated
balance $beat will show an increase in "loong-Tern Debt
(rntorcospany)m to reflect the additional borrowing from B.A.T
Capital Corporation and a corresponding increase in "Sundry
Debtors".
I hope this answors your question. It not, p:sess call either
Pat Dougborty (569-7205) or Gene Tucker (365-9332).
C. D. F.
@C. D. r.
cc: P. Dougherty
G. Tucker
NJ
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BAT ImamiEs P-LC. - MWESOTA 0EpoSjtORy Copy _ pRODUCED PURWANT To
CONSEW JuDoUgNT DATED &aVS IM $rAM_OF MAWSO 'P A VILD. OF
ET AL V. PH&P IT Al, CASE No. C1.944M
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