ITEM 3. LEGAL PROCEEDINGS.
Information contained in Note E, page 39, and Note S, pages 49 through 50, of the 1993 Annual Report, which is filed in this 10-K report as Exhibit 13, is incorporated herein. Also, Murphy Oil USA, Inc., which owns and operates two oil refineries in the U.S., is a defendant in three governmental actions that: (1) seek monetary sanctions of $100,000 or more, and (2) arise under enacted provisions that regulate the discharge of materials into the environment or have the purpose of protecting the environment. These actions individually or in the aggregate are not material to the financial condition of the Company. In addition, Murphy and its subsidiaries are engaged in a number of other legal proceedings, all of which Murphy considers routine and incidental to its business and none of which is material as defined.
ITEM 4.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
No matters were submitted to a vote of security holders during the fourth quarter of 1993.
PART II
ITEM 5.
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.
Information required by this item is reported on pages 31 and 44 through 46, Notes K and L, of the 1993 Annual Report, which is filed in this 10-K report as Exhibit 13.
ITEM 6.
ITEM 6. SELECTED FINANCIAL DATA.
Information required by this item appears on page 23 of the 1993 Annual Report, which is filed in this 10-K report as Exhibit 13.
ITEM 7.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION.
Information required by this item appears on pages 24 through 30 of the 1993 Annual Report, which is filed in this 10-K report as Exhibit 13.
ITEM 8.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
Information required by this item appears on pages 31 through 59 of the 1993 Annual Report, which is filed in this 10-K report as Exhibit 13.
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.
Certain information regarding executive officers of the Company is included in Part I, pages 8 and 9, of this 10-K report. Other information required by this item is incorporated by reference to the Registrant's definitive proxy statement for the annual meeting of stockholders on May 11, 1994, under the caption "Election of Directors."
ITEM 11.
ITEM 11. EXECUTIVE COMPENSATION.
Information is incorporated by reference to the Registrant's definitive proxy statement for the annual meeting of stockholders on May 11, 1994, under the captions "Compensation of Directors," "Executive Compensation," "Option Exercises and Fiscal Year-End Values," "Option Grants," "Compensation Committee Report for 1993," "Shareholder Return Performance Presentation," and "Retirement Plans."
ITEM 12.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.
Information is incorporated by reference to the Registrant's definitive proxy statement for the annual meeting of stockholders on May 11, 1994, under the caption "Certain Stock Ownerships."
ITEM 13.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
Information is incorporated by reference to the Registrant's definitive proxy statement for the annual meeting of stockholders on May 11, 1994, under the caption "Compensation Committee Interlocks and Insider Participation."
PART IV
ITEM 14.
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
(a) 1. FINANCIAL STATEMENTS
The following consolidated financial statements of Murphy Oil Corporation and consolidated subsidiaries are included on the pages indicated of Exhibit 13 to this 10- K report.
(a) 2. FINANCIAL STATEMENT SCHEDULES
The following financial statement schedules of Murphy Oil Corporation and consolidated subsidiaries are included in this 10-K report on the pages as indicated below. All other schedules are omitted because either they are not applicable or the required information is included in the consolidated financial statements or notes thereto.
(a) 3. EXHIBITS
The Exhibit Index on page 19 of this 10-K report lists the exhibits that are hereby filed.
(b) REPORTS ON FORM 8-K
No reports on Form 8-K were filed during the quarter ended December 31, 1993.
INDEPENDENT AUDITORS' REPORT ON SCHEDULES -----------------------------------------
The Board of Directors Murphy Oil Corporation:
Under date of March 4, 1994, we reported on the consolidated balance sheets of Murphy Oil Corporation and Consolidated Subsidiaries as of December 31, 1993 and 1992, and the related consolidated statements of income, stockholders' equity, and cash flows for each of the years in the three-year period ended December 31, 1993, as contained in the 1993 annual report to stockholders. These consolidated financial statements and our report thereon are included in Exhibit 13 in the annual report on Form 10-K for the year 1993. In connection with our audits of the aforementioned consolidated financial statements, we also have audited the financial statement schedules as listed under Item 14 (a) 2. These financial statement schedules are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statement schedules based on our audits.
In our opinion, such financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
As discussed in Note B to the consolidated financial statements, the Company adopted the provisions of Financial Accounting Standards Board's Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," and Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," in 1993.
KPMG PEAT MARWICK
Shreveport, Louisiana March 4, 1994
MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES SCHEDULE I - MARKETABLE SECURITIES December 31, 1993 ---------------------------------------------------- (Thousands of dollars)
*Includes accrued interest.
MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES SCHEDULE V--PROPERTY, PLANT, AND EQUIPMENT Three years ended December 31, 1993 ---------------------------------------------------- (Thousands of dollars)
(1) Transfers between classifications. (2) Fair value in excess of book value of properties acquired from minority interest. (3) Amounts applicable to foreign currency translations. (4) Depreciation applicable to used well equipment included in purchase of producing properties. (5) Reclassified from investments. (6) Cancellation or reclassification of capitalized lease obligations. (7) Reclassified to investments and deferred charges. (8) Effect of SFAS No. 109 on prior business combinations. (9) Reclassified from deferred income tax liability. (10) Other.
MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES SCHEDULE VI - ACCUMULATED DEPRECIATION, DEPLETION, AND AMORTIZATION OF PROPERTY, PLANT, AND EQUIPMENT Three years ended December 31, 1993 ------------------------------------------------------ (Thousands of dollars)
(1) Transfers between classifications. (2) Amounts applicable to foreign currency translations. (3) Depreciation applicable to used well equipment included in purchase of producing properties. (4) Reclassified from investments. (5) Cancellation or reclassification of capitalized lease obligations. (6) Effect of SFAS No. 109 on prior business combinations. (7) Other.
MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES SCHEDULE IX - SHORT-TERM BORROWINGS Three years ended December 31, 1993 ---------------------------------------------------- (Thousands of dollars)
(1) The unused lines of credit can be withdrawn by the banks at any time. Outstanding amounts are normally repayable within one year and bear interest based on the banks' prime lending rates or costs of funds rates.
(2) Average interest rates and average amounts outstanding are based on daily rates and amounts.
(3) Primarily borrowings in the U.K., with a corresponding deposit earning interest at a rate that may be up to .5% lower.
MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES SCHEDULE X - SUPPLEMENTARY INCOME STATEMENT INFORMATION Three years ended December 31, 1993 ------------------------------------------------------- (Thousands of dollars)
No other items required to be reported on this schedule exceeded one percent of total revenues.
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.
MURPHY OIL CORPORATION
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on March 29, 1994 by the following persons on behalf of the registrant and in the capacities indicated.
EXHIBIT INDEX
Exhibits other than those listed above have been omitted since they either are not required or are not applicable.