Annual Report (Form 10-K), fiscal year 1993

ITEM 1 -- BUSINESS
GENERAL
Wheelabrator Technologies Inc. provides a wide array of environmental products and services in North America and abroad through three principal business lines. The Company's energy group ("Wheelabrator Clean Energy") is a leading developer of facilities and systems for, and provider of services to, the trash-to-energy, energy and independent power markets. Through the subsidiaries comprising Wheelabrator Clean Energy, the Company develops, arranges financing for, operates and owns facilities that dispose of trash and other waste materials in an environmentally acceptable manner by recycling it into energy in the form of electricity and steam.
The Company's water group ("Wheelabrator Clean Water") is comprised of several subsidiaries principally involved in the design, manufacture and operation of facilities and systems used to purify water, to treat municipal and industrial wastewater, to treat and manage biosolids resulting from the treatment of wastewater by converting them into useful fertilizers, and to recycle organic wastes into compost material useable for horticultural and agricultural purposes. Wheelabrator Clean Water also designs and manufactures various products and systems used in water and wastewater treatment facilities and industrial facilities, precision profile wire screens for use in groundwater wells and other industrial applications, and certain other industrial equipment.
The Company's air group ("Wheelabrator Clean Air") designs, fabricates and installs technologically-advanced air pollution emission control and measurement systems and equipment, including systems which remove pollutants from the emissions of the Company's trash-to-energy facilities as well as power plants and other industrial facilities. Through its subsidiaries, Wheelabrator Clean Air also provides technologies and systems designed to treat air streams which contain nitrogen oxide ("NOx") and volatile organic compounds ("VOCs"), the major contributors to the creation of smog.
The majority of the businesses of the Company have been managed together as a group since the early 1980s. The Company's predecessor companies and subsidiaries have been active in project development for approximately 20 years, and in related activities since the turn of the century. Unless the context indicates to the contrary, as used in this report, the terms "Company" and "WTI" refer to Wheelabrator Technologies Inc. and its subsidiaries. Unless otherwise indicated, all statistical and financial information under Item 1 and Item 2



ITEM 2 -- PROPERTIES
The Company's principal executive offices are located at Liberty Lane, Hampton, New Hampshire 03842. These offices also serve as the headquarters of the Company's Wheelabrator Clean Energy group. The Company believes that its property and equipment are generally well maintained, in good operating condition and adequate for its present needs. The inability to renew any short- term real property lease by the Company or any of its subsidiaries would not have a material adverse effect on its results of operations. WTI regularly upgrades and modernizes facilities and equipment and expands its facilities as necessary.
The following tables set forth the Company's principal facility locations in operation or under construction and their use (including those operated by the Company for others under long-term contracts or similar arrangements) as of December 31, 1993.
DESCRIPTION OF OWNED, LEASED AND/OR LONG-TERM OPERATED PROJECTS
Set forth below is a description of projects in operation or under construction which are owned, leased or operated under long-term operating agreements by WTI subsidiaries, partnerships or joint ventures controlled by WTI subsidiaries. Unless indicated to the contrary below, each project is owned by subsidiaries or affiliates of the Company. While WTI exercises, or will exercise, operating control over each such project, WTI has no ownership interest in certain of the projects.
Projects in Operation
- --------------------- (1) Westchester Resco is a limited partnership, 75% held by WTI, and 25% held indirectly by John Hancock Mutual Life Insurance Co. as a limited partner.
Projects Under Construction
KEY: mW--Megawatts DTPD--Dry Tons Per Day TPD--Tons Per Day TPY--Tons Per Year MCF--Thousands of Cubic Feet
Non-Project Facilities
Set forth below is a list of all of the primary non-project facilities owned by the Company as of December 31, 1993, and each of the principal plants and offices leased by the Company as of that date. Such list does not purport to be a complete list of all of the Company's leased properties.
ITEM 3

ITEM 3 -- LEGAL PROCEEDINGS
Saugus, Massachusetts Trash-to-Energy Facility
On December 4, 1990, a lawsuit was filed against the Company in Essex County Superior Court in the Commonwealth of Massachusetts ("Essex County Court") over the estimated cost of retrofitting certain pollution control equipment at the Company's Saugus, Massachusetts trash-to-energy facility (the "Saugus Facility"), together with the cost of certain modifications to the ash disposal site located adjacent to the Saugus Facility, and the costs associated with operation and maintenance expenses of the Saugus Facility. The lawsuit, brought by thirteen communities whose municipal waste is disposed at the Saugus Facility, sought declaratory judgment, monetary damages and other relief based upon allegations that some of the costs incurred were not properly recoverable under the terms of their respective service agreements with the Company. The lawsuit also named as defendants several of the Company's other subsidiaries.
On March 2, 1992, the Company filed a lawsuit in Essex County Court against the plaintiffs in the foregoing action alleging non-payment of costs billed to them pursuant to their respective service agreements for amounts expended by the Company in retrofitting the Saugus Facility. Upon the Company's motion, the parties were ordered to arbitrate the dispute as provided in the various service agreements. The Company and the communities commenced the arbitration in early 1993. The "Arbitrator's Final Award," issued on November 9, 1993, provided that: (i) the Company was not entitled to recover the cost of capital improvements to the ash landfill or to receive incremental operating costs related to such capital improvements; (ii) the Company was entitled to charge the communities their proportionate shares of approximately $54 million of capital improvements to the Saugus Facility (the Company had sought approximately $59 million); and (iii) the Company was entitled to charge the communities their proportionate shares of incremental operating costs resulting from such capital improvements.
Following the issuance of the Arbitrator's Final Award, the parties voluntarily dismissed with prejudice the communities' appeal of the order to arbitrate issued in the Company's 1992 lawsuit. These actions conclusively ended all disputes arising out of the retrofit of the Saugus Facility and the adjacent ash disposal site.
Regulatory
The business in which the Company is engaged is intrinsically connected with the protection of the environment and involves the potential for the discharge of materials into the environment. In the ordinary course of conducting its business activities, the Company becomes involved in judicial and administrative proceedings involving governmental authorities at the federal, state and local level including, in certain instances, proceedings instituted by citizens or local governmental authorities seeking to overturn governmental action in which governmental officials or agencies are named as defendants together with the Company or one or more of its subsidiaries, or both. In the majority of the situations where proceedings are commenced by governmental authorities, the matters involved relate to alleged technical violations of licenses or permits pursuant to which
the Company operates or is seeking to operate or laws or regulations to which its operations are subject or are the result of different interpretations of the applicable requirements. At December 31, 1993, the Company was involved in one such proceeding relating to activities at its Westchester, New York trash-to- energy facility. The EPA has alleged that the facility exceeded its emission limits of sulphur dioxide ("SO\\2\\"). The EPA and the Company are negotiating a consent order which is expected to include the installation of a sorbent injection system (to reduce the SO\\2\\ emissions) and sanctions in an amount which may exceed $100,000.
Other
In January 1993, the Internal Revenue Service ("IRS") completed an examination of the Company's consolidated federal income tax returns for the period 1986-1988. The IRS proposed a significant adjustment related to the 1988 sale of a former subsidiary, which the Company disputed. In March 1994, WTI and the IRS filed a Stipulation of Settlement with the U.S. Tax Court which resolved the treatment of the disputed matter. Although the Company is primarily liable for the amount of the tax due as a result of the settlement (plus interest), under a Tax Sharing Agreement between the Company and a predecessor of the Company now known as Koll Real Estate Group, Inc. ("KREG"), the Company is indemnified by KREG and a former subsidiary of KREG, Abex, Inc. ("Abex"), for the full amount of any liability assessed with regard to this issue by the IRS (subject to the remaining availability of any portion of the Company's $50 million obligation referred to in Note 3 of Notes to Consolidated Financial Statements included elsewhere in this report). Management believes that KREG and Abex will be able to satisfy their indemnification obligations in respect of the agreed tax liability.
In addition, there are other routine lawsuits and claims pending against WTI and its subsidiaries incidental to their businesses. In the opinion of the Company's management, the ultimate liability, if any, with respect to the above proceedings and such other lawsuits and claims will not have a material adverse effect on the business and properties of the Company, taken as a whole, or its financial position or results of operations.
ITEM 4

ITEM 4 -- SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
PART II
ITEM 5

ITEM 5 -- MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
The Common Stock is traded on The New York Stock Exchange under the symbol "WTI." The table below sets forth by quarter, for the last two years, the high and low sales prices of the Common Stock on The New York Stock Exchange Composite Tape as reported by The Wall Street Journal (Midwest Edition) and also shows the cash dividends declared per share during such periods:
- ------------------ (1) All per share prices and dividends have been adjusted to reflect the two- for-one stock split in the form of a 100% stock dividend distributed in January 1993.
----------------------------------------
The approximate number of holders of record of Common Stock as of March 1, 1994 was 22,600. In January 1993, the Company effected a two-for-one stock split paid in the form of a 100% stock dividend. During 1993, the Board of Directors declared, and the Company paid, total dividends in the amount of $0.08 per share. In May 1993, the Board of Directors announced its intention to thereafter consider the payment of an annual dividend in lieu of quarterly dividends. Future cash dividends will be considered by the Board of Directors based upon the Company's earnings and financial position and such other business considerations as the Board of Directors considers relevant.
On March 15, 1994, WTI announced that the Board of Directors had authorized the repurchase of up to 3,800,000 shares of Common Stock from time to time over the following 24-month period in the open market or in privately negotiated transactions. Under a similar program initiated in 1992, WTI repurchased a total of approximately 4,160,000 shares of Common Stock over a period of two years.
ITEM 6

ITEM 6 -- SELECTED FINANCIAL DATA
The following selected consolidated financial information for each of the five years in the period ended December 31, 1993 is derived from the Company's Consolidated Financial Statements, which have been audited by Arthur Andersen & Co., independent public accountants, whose report thereon is incorporated by reference in this report. The information below should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and the Company's Consolidated Financial Statements, and the related Notes, and the other financial information which are filed as exhibits to this report and incorporated herein by reference.
WHEELABRATOR TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED SELECTED FINANCIAL DATA (000's omitted except per share amounts)
- ---------------------------- . The 1990 loss of $70.2 million, or $0.44 per share, reflects a restructuring charge, an unrealized loss on investments in common stock and the cumulative effect of a change in accounting method.
. 1991 net income includes a $47.1 million pretax gain on the sale of certain foreign equity investments.
. 1992 income before extraordinary item and accounting changes includes a $47.0 million nontaxable gain relating to the initial public offering of shares by Waste Management International plc. See Note 2 of Notes to Consolidated Financial Statements.
. 1992 net income includes one-time charges of $42.2 million relating to the adoption of two new financial accounting standards. See Note 1 of Notes to Consolidated Financial Statements.
. Beginning in 1993, the Company no longer consolidates the financial results of certain businesses contributed to form, in part, Rust International Inc. ("Rust"). Revenues from the contributed businesses amounted to approximately $380.4 million, $423.8 million, $397.8 million and $554.7 million in 1989, 1990, 1991 and 1992, respectively. Beginning in 1993, the Company's share of Rust's net income is included in equity in earnings of affiliates. See Note 2 of Notes to Consolidated Financial Statements.
. 1993 income includes a $7.7 million nontaxable gain related to issuance of stock by Rust and a $6.5 million increase in the tax provision due to the revaluing of deferred taxes as a result of the August enactment of the Omnibus Budget Reconciliation Act of 1993. See Notes 2 and 3 of Notes to Consolidated Financial Statements.
. Share and per share data for all periods reflect the two-for-one stock split effected on January 7, 1993. See Note 1 of Notes to Consolidated Financial Statements.
. The increases in weighted average shares outstanding in 1991 and 1992 are primarily due to shares issued in connection with acquisitions. See Note 2 of Notes to Consolidated Financial Statements.
. The increases in stockholders' equity at December 31, 1991 and 1992 primarily reflect income for each year and the effect of acquisitions. The increase in stockholders' equity at December 31, 1993 primarily reflects income for the year, the effects of acquisitions and the January 1, 1993 formation of Rust. See Note 2 of Notes to Consolidated Financial Statements.
----------------------------------------------
ITEM 7

ITEM 7 -- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Reference is made to Management's Discussion and Analysis of Financial Condition and Results of Operations set forth on pages 25 through 31 of the Company's 1993 Annual Report to Stockholders (the "Annual Report") which discussion is filed as an exhibit to this report and incorporated herein by reference.
ITEM 8


ITEM 8 -- FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
(a) The Consolidated Balance Sheets as of December 31, 1992 and 1993, Consolidated Statements of Income, Cash Flows and Changes in Stockholders' Equity for each of the years in the three-year period ended December 31, 1993 and Notes to Consolidated Financial Statements set forth on pages 32 through 53 of the Annual Report are filed as an exhibit to this report and incorporated herein by reference.
(b) Selected Quarterly Financial Data (Unaudited) is set forth in Note 10 of the Notes to Consolidated Financial Statements referred to in Item 8(a) above and incorporated herein by reference.
(c) Rust International Inc.'s Consolidated Balance Sheets as of December 31, 1992 and 1993, Consolidated Statements of Income, Cash Flows and Changes in Stockholders' Equity for each of the years in the three-year period ended December 31, 1993 and Notes to Consolidated Financial Statements are incorporated herein by reference to pages through of Rust's 1993 annual report on Form 10-K. Rust's file number under the Securities Exchange Act of 1934 is 1-11896.
ITEM 9

ITEM 9 -- CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
PART III
ITEM 10



ITEM 10 -- DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Directors. The information appearing under the caption "Election of Directors" on pages 2 through 4 of the Company's Proxy Statement for the Annual Meeting of Stockholders to be held May 5, 1994 (the "Proxy Statement"), is incorporated herein by reference.
Executive Officers. Information with respect to executive officers of WTI is set forth under the caption "Executive Officers of the Registrant" in Item 1 of this report.
ITEM 11

ITEM 11 -- EXECUTIVE COMPENSATION
Information appearing under the caption "Compensation" on pages 7 through 11 of the Proxy Statement is incorporated herein by reference.
ITEM 12

ITEM 12 -- SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
Information appearing under the caption "Principal Stockholder" on page 2 of the Proxy Statement and under the caption "Securities Ownership of Management" on pages 4 through 6 of the Proxy Statement is incorporated herein by reference.
ITEM 13

ITEM 13 -- CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Information appearing under the caption "Certain Transactions and Other Matters" on pages 18 through 25 of the Proxy Statement, under the second full paragraph on page 3 of the Proxy Statement and under the first full paragraph on page 4 of the Proxy Statement is incorporated herein by reference.
PART IV
ITEM 14

ITEM 14 -- EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
(A)(1) FINANCIAL STATEMENTS:
The following financial statements and supplementary data of the Company are filed as an exhibit hereto and incorporated herein by reference:
(i) Consolidated Statements of Income for the years ended December 31, 1991, 1992 and 1993. (ii) Consolidated Balance Sheets as of December 31, 1992 and 1993. (iii) Consolidated Statements of Cash Flows for the years ended December 31, 1991, 1992 and 1993. (iv) Consolidated Statements of Changes in Stockholders' Equity for the years ended December 31, 1991, 1992 and 1993.
(v) Notes to Consolidated Financial Statements. (vi) Report of Independent Public Accountants -- Arthur Andersen & Co.
Rust International Inc.'s Consolidated Balance Sheets as of December 31, 1992 and 1993, Consolidated Statements of Income, Cash Flows and Changes in Stockholders' Equity for each of the years in the three-year period ended December 31, 1993 and Notes to Consolidated Financial Statements are incorporated herein by reference to pages through of Rust's 1993 annual report on Form 10-K. Rust's file number under the Securities Exchange Act of 1934 is 1-11896.
(2) SCHEDULES:
The following financial statement schedules of the Company are included in this report:
(i) Report of Independent Public Accountants on Schedules--Arthur Andersen & Co. (ii) Schedule II--Amounts Receivable From Officers, Employees and Related Parties. (iii) Schedule V--Property and Equipment. (iv) Schedule VI--Accumulated Depreciation and Amortization of Property and Equipment.
Financial statement schedules of Rust International Inc. are incorporated by reference to pages through of Rust's 1993 annual report on Form 10-K. Rust's file number under the Securities Exchange Act of 1934 is 1-11896.
All other schedules have been omitted since they are not applicable, not required, or the information is included in the above-referenced financial statements or notes thereto.
(3) EXHIBITS:
The exhibits to this report are listed in the Exhibit Index contained elsewhere herein. Included in the exhibits listed therein are the following exhibits which constitute management contracts or compensatory plans or arrangements:*
(i) Restricted Unit Plan for Non-Employee Directors of the registrant as amended through June 10, 1991 (incorporated by reference to Exhibit 19.03 to the registrant's quarterly report on Form 10-Q for the quarter ended June 30, 1991).
(ii) Amendment, dated as of December 6, 1991, to the Restricted Unit Plan for Non-Employee Directors of the registrant (incorporated by reference to Exhibit 19.05 to registrant's 1991 annual report on Form 10-K).
(iii) Deferred Director's Fee Plan adopted June 10, 1991 (incorporated by reference to Exhibit 19.02 to the registrant's quarterly report on Form 10-Q for the quarter ended June 30, 1991).
- ------------------ * In the case of incorporation by reference to documents filed under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. Exhibits not incorporated by reference are filed with this report.
(iv) 1988 Stock Plan for Executive Employees of Old WTI and its subsidiaries ("1988 Stock Plan") (incorporated by reference to Exhibit 28.1 to Amendment No. 1 to the registrant's registration statement on Form S-8, Reg. No. 33-31523).
(v) Amendments, dated as of September 7, 1990, to the 1988 Stock Plan (incorporated by reference to Exhibit 19.02 to the registrant's 1990 annual report on Form 10-K).
(vi) Amendment, dated as of November 1, 1990, to the 1988 Stock Plan (incorporated by reference to Exhibit 19.04 to the registrant's 1990 annual report on Form 10-K).
(vii) Amendment, dated as of December 6, 1991, to the 1988 Stock Plan (incorporated by reference to Exhibit 19.02 to the registrant's 1991 annual report on Form 10-K).
(viii) 1986 Stock Plan for Executive Employees of the registrant and its subsidiaries ("1986 Stock Plan") (incorporated by reference to Exhibit 28.2 to Amendment No. 1 to the registrant's registration statement on Form S-8, Reg. No. 33-13720).
(ix) Amendment, dated as of November 1, 1990, to the 1986 Stock Plan (incorporated by reference to Exhibit 19.03 to the registrant's 1990 annual report on Form 10-K).
(x) Amendment, dated as of December 6, 1991, to the 1986 Stock Plan (incorporated by reference to Exhibit 19.01 to the registrant's 1991 annual report on Form 10-K).
(xi) 1991 Performance Unit Plan of the registrant (incorporated by reference to Exhibit 10.48 of the registrant's 1990 annual report on Form 10-K).
(xii) Wheelabrator Technologies Inc. Corporate Incentive Bonus Plan (as amended and restated as of March 8, 1993) (incorporated by reference to Exhibit 10.36 to the registrant's 1992 annual report on Form 10- K).
(xiii) Wheelabrator Technologies Inc. Corporate Incentive Bonus Plan (as amended and restated as of March 14, 1994).
(xiv) Wheelabrator Technologies Inc. Long Term Incentive Plan (as amended and restated as of March 14, 1994).
(xv) Retirement Plan for Non-Employee Directors of the registrant (incorporated by reference to Exhibit 10.32 to the registrant's 1988 annual report on Form 10-K).
(xvi) Amendment, dated as of September 7, 1990, to the Retirement Plan for Non-Employee Directors of the registrant (incorporated by reference to Exhibit 19.01 to the registrant's 1990 annual report on Form 10- K).
(xvii) Amendment, dated June 10, 1991, to the Retirement Plan for Non- Employee Directors of the registrant (incorporated by reference to Exhibit 19.01 to the registrant's quarterly report on Form 10-Q for the quarter ended June 30, 1991).
(xviii) 1991 Stock Option Plan for Non-Employee Directors ("1991 Directors Plan") of the registrant adopted June 10, 1991 (incorporated by reference to Exhibit 19.04 to the registrant's quarterly report on Form 10-Q for the quarter ended June 30, 1991).
(xix) Amendment to 1991 Directors Plan dated as of December 22, 1993.
(xx) 1992 Stock Option Plan of the registrant (incorporated by reference to Exhibit 10.45 to the registrant's 1991 annual report on Form 10- K).
(B) REPORTS ON FORM 8-K
The Company did not file any reports on Form 8-K during the fiscal quarter ended December 31, 1993.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in Oak Brook, Illinois on the 29th day of March 1994.
WHEELABRATOR TECHNOLOGIES INC.
By /s/ PHILLIP B. ROONEY --------------------------------------- PHILLIP B. ROONEY, CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS ON SUPPLEMENTAL SCHEDULES
To the Stockholders and the Board of Directors of Wheelabrator Technologies Inc.:
We have audited in accordance with generally accepted auditing standards, the consolidated financial statements included in Wheelabrator Technologies Inc.'s annual report to stockholders incorporated by reference in this Form 10-K, and have issued our report thereon dated March 17, 1994. Our report on the consolidated financial statements includes an explanatory paragraph with respect to the change in the method of accounting for income taxes and postretirement benefits other than pensions as discussed in Note 1 to the financial statements. Our audit was made for the purpose of forming an opinion on those statements taken as a whole. The schedules listed in Item 14(a)(2) in this Form 10-K are the responsibility of the Company's management and are presented for purposes of complying with the Securities and Exchange Commission's rules and are not part of the basic consolidated financial statements. These schedules have been subjected to the auditing procedures applied in the audit of the basic consolidated financial statements and, in our opinion, fairly state in all material respects the financial data required to be set forth therein in relation to the basic consolidated financial statements taken as a whole.
/s/ Arthur Andersen & Co. ARTHUR ANDERSEN & CO.
New York, New York, March 17, 1994
SCHEDULE II
WHEELABRATOR TECHNOLOGIES INC.
AMOUNTS RECEIVABLE FROM RELATED PARTIES AND UNDERWRITERS, PROMOTERS AND EMPLOYEES OTHER THAN RELATED PARTIES
(1) Indebtedness indicated was related to purchases of common stock by participants in the Company's Equity Purchase Program. See Note 6 of Notes to Consolidated Financial Statements for a further description of the Equity Puchase Program. Such indebtedness was represented by nonrecourse promissory notes issued to the Company which were secured by shares of Common Stock of the Company purchased under such program as well as shares of the common stock of WMX issued in connection with the 1990 Merger. The Company will not issue additional shares of Common Stock under the Equity Purchase Program.
SCHEDULE II (CONTINUED)
(1) Indebtedness indicated was related to purchases of common stock by participants in the Company's Equity Purchase Program. See Note 6 of Notes to Consolidated Financial Statements for a further description of the Equity Puchase Program. Such indebtedness was represented by nonrecourse promissory notes issued to the Company which were secured by shares of Common Stock of the Company purchased under such program as well as shares of the common stock of WMX issued in connection with the 1990 Merger. The Company will not issue additional shares of Common Stock under the Equity Purchase Program.
SCHEDULE V
WHEELABRATOR TECHNOLOGIES INC. PROPERTY, PLANT AND EQUIPMENT (000'S OMITTED)
* Represents the effect of translating foreign balance sheets to U.S. Dollars, finalization of purchase price adjustments, and transfers from construction in progress. In 1992, primarily reflects the impact of the restatement of assets related to business combinations consummated before the adoption of FAS 109 on a gross basis rather than on a net-of-tax basis previously used. In 1993, primarily reflects the impact of the contribution of certain businesses to form, in part, Rust International Inc. See Note 2 of Notes to Consolidated Financial Statements for a further description of the Company's investment in Rust International Inc.
SCHEDULE VI
WHEELABRATOR TECHNOLOGIES INC. ACCUMULATED DEPRECIATION (000'S OMITTED)
- ------------------- * Represents the effect of translating foreign balance sheets to U.S. Dollars and finalization of purchase price adjustments. In 1993, primarily reflects the impact of the contribution of certain businesses to form, in part, Rust International Inc. See Note 2 of Notes to Consolidated Financial Statements for a further description of the Company's investment in Rust International Inc.
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-1
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. ** This information appears only on the manually signed original of this report.
E-2
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-3
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-4
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-5
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-6
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-7
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-8
WHEELABRATOR TECHNOLOGIES INC.
EXHIBIT INDEX
- ------------------ * In the case of incorporation by reference to documents filed by the registrant under the Securities Exchange Act of 1934, the registrant's file number under that Act is 0-14246. **This information appears only on the manually signed original of this report.
E-9