-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, B1CORFjWGNxT96Zyu+ko2eYDoQa4W3LRL1XHOOaPE4wImUjIsM1+goXqnuxsiBGA /ZWK2iaiFNSF66OyLtUAbg== 0000012978-94-000024.txt : 19940621 0000012978-94-000024.hdr.sgml : 19940621 ACCESSION NUMBER: 0000012978-94-000024 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940615 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOISE CASCADE CORP CENTRAL INDEX KEY: 0000012978 STANDARD INDUSTRIAL CLASSIFICATION: 2621 IRS NUMBER: 820100960 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05057 FILM NUMBER: 94534385 BUSINESS ADDRESS: STREET 1: ONE JEFFERSON SQ STREET 2: P.O.BOX 50 CITY: BOISE STATE: ID ZIP: 83702 BUSINESS PHONE: 2083847460 11-K 1 FORM 11-K FOR QUEST PLAN SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K (Mark one) [ X ] Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 [Fee Required] For the fiscal year ended December 31, 1993 or [ ] Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 [No Fee Required] For the transition period from ________________ to _________________ Commission File Number 1-5057 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: BOISE CASCADE CORPORATION One Jefferson Square P.O. Box 50 Boise, Idaho 83728-0001 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Board of Directors of Boise Cascade Corporation: We have audited the accompanying combined statements of participants' equity and net assets available for plan benefits of the Boise Cascade Corporation Qualified Employee Savings Trust (QUEST) as of December 31, 1993, 1992, and 1991, and the related combined statements of changes in participants' equity and net assets available for plan benefits for the years then ended. These financial statements and the schedules referred to below are the responsibility of Boise Cascade Corporation. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and signi- ficant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the combined financial position of the Boise Cascade Corporation Qualified Employee Savings Trust (QUEST) as of December 31, 1993, 1992, and 1991, and the combined changes in participants' equity and net assets available for plan benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules I, II, III, IV, and V are presented for purposes of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 and/or the Securities and Exchange Commission rules and regulations under the Securities Exchange Act of 1934. Such schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. Boise, Idaho April 15, 1994 ARTHUR ANDERSEN & CO. BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) COMBINED STATEMENTS OF PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS (Note 2) December 31 1993 1992 1991 Assets Investments, at current value (Note 1) $13,555,723 $ 9,838,289 $ 7,063,806 Cash 5,067 323 1,520 Short-term securities at cost, which approximates market 52,004 23,234 25,000 Dividends receivable 5,712 4,980 2,230 Due from participants 1,371 2,180 1,572 Due from other of the Plan's funds 3,695 1,782 - Company contributions receivable 423 782 678 Interest receivable 105 36 93 ___________ ___________ ___________ 13,624,100 9,871,606 7,094,899 ___________ ___________ ___________ Liabilities Due to other of the Plan's funds 3,695 1,782 - Due to participants 41 164 - Due to Company - 3,953 - Accounts payable - - 18,031 Other 4,146 1,986 1,522 ___________ ___________ ___________ 7,882 7,885 19,553 ___________ ___________ ___________ Participants' equity and net assets available for plan benefits at end of the year $13,616,218 $ 9,863,721 $ 7,075,346 COMBINED STATEMENTS OF CHANGES IN PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS (Note 2) December 31 1993 1992 1991 Participants' equity and net assets provided by (used for) Investment income Interest income $ 648,321 $ 526,018 $ 383,243 Dividend income and mutual fund distributions 264,612 53,954 43,752 Contributions Participants' contributions 2,231,558 1,893,704 1,669,706 Company contributions 992,689 860,618 753,392 Forfeitures (Note 1) (6,904) (24,256) (14,722) Amounts transferred from other plans (Note 1) 26,093 - - Appreciation (depreciation) of investments, net (Note 1) (11,012) (71,191) 215,311 Payments to participants (Note 1) (392,860) (450,472) (187,514) ___________ ___________ ___________ Increase in participants' equity and net assets 3,752,497 2,788,375 2,863,168 Participants' equity and net assets available for plan benefits at Beginning of the year 9,863,721 7,075,346 4,212,178 ___________ ___________ ___________ End of the year $13,616,218 $ 9,863,721 $ 7,075,346 The accompanying notes are an integral part of these Financial Statements. BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) NOTES TO FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PLAN DESCRIPTION. The Boise Cascade Corporation Qualified Employee Savings Trust (the "Plan") is a defined contribution plan and is administered by Boise Cascade Corporation. At December 31, 1993, 1,057 U.S. nonunion hourly employees and 64 former employees at selected locations of Boise Cascade Corporation, its U.S. subsidiaries, and certain affiliates (collectively the "Company") were participating in the Plan. Participants who are employees of the Company may contribute to the Plan in whole percentages of their compensation for each pay period. The Company's contributions to the Plan and amounts that may be contributed by participants vary by covered locations. In addition, amounts that participants may contribute to the Plan are subject to limitations set forth in the Internal Revenue Code (the "Code"). The Plan provides that participants may contribute to the Plan in accordance with Section 401(k) of the Code. These participants defer income taxes by reducing their current taxable income for federal and most state income tax purposes by the amount of their contributions. The contributions, including associated net earnings on investments, become subject to taxation at the time the participant withdraws them from the Plan (see Note 3). Participants may also elect to contribute to the Plan without deferring income taxes on amounts contributed. Taxation of net earnings on such contributions is deferred until the earnings are distributed from the Plan. Participants may make pretax and after-tax contributions. Participants' contributions are recorded in either a "Before-Tax Contribution Account" or an "After-Tax Contribution Account" as appropriate. INVESTMENTS. At December 31, 1993, the Plan had investment funds consisting of: a Fixed Income Fund that invests primarily in bank and insurance investment contracts that provide a fixed interest rate; a Diversified Common Stock Fund that invests primarily in mutual funds that invest in common stocks or securities that are convertible into common stocks; and a Boise Cascade Corporation Common Stock Fund that invests primarily in the Company's $2.50 par value common stock. Investments in these funds are made in accordance with guidelines in the Master Trust Agreement for Defined Contribution Plans between State Street Bank and Trust Company, as trustee, and the Company (the "Trust") and are apportioned among the funds as directed by each participant. The Plan also had a Participants' Loan Fund (see Note 2). The following table sets forth rates of return experienced by each of the Plan's funds for the years indicated: Year Ended December 31 1993 1992 1991 Fixed Income Fund 7.42% 8.31% 8.95% Diversified Common Stock Fund 9.23 (4.32) 50.76 Boise Cascade Corporation Common Stock Fund 13.59 (2.45) (8.30) The detail of the investments of each fund is as follows:
Shares Held Current at the End Cost of Value at End of the Year Each Item of the Year 1993 Fixed Income Fund State Street Bank and Trust Company (Pooled Investments) $9,381,780 $9,381,780 Diversified Common Stock Fund Twentieth Century Investors, Inc. Growth Fund 50,858 $1,124,715 $1,139,213 Select Fund 28,549 1,139,672 1,126,530 __________ __________ $2,264,387 $2,265,743 Boise Cascade Corporation Common Stock Fund 38,081 $ 914,428 $ 894,904 Participants' Loan Fund $1,013,296 $1,013,296 1992 Fixed Income Fund State Street Bank and Trust Company (Pooled Investments) $7,143,299 $7,143,299 Diversified Common Stock Fund Twentieth Century Investors, Inc. Growth Fund 27,618 $ 568,603 $ 672,766 Select Fund 17,249 660,552 667,880 __________ __________ $1,229,155 $1,340,646 Boise Cascade Corporation Common Stock Fund 33,200 $ 805,046 $ 701,350 Participants' Loan Fund $ 652,994 $ 652,994 1991 Fixed Income Fund State Street Bank and Trust Company (Pooled Investments) $5,318,065 $5,318,065 Diversified Common Stock Fund Twentieth Century Investors, Inc. Growth Fund 21,303 $ 383,939 $ 550,248 Select Fund 11,924 444,021 505,559 __________ __________ $ 827,960 $1,055,807 Boise Cascade Corporation Common Stock Fund 15,729 $ 459,604 $ 349,970 Participants' Loan Fund $ 339,964 $ 339,964
The following schedule sets forth the number of employee participants making contributions to the Plan's investment funds: Number of Employee Participants Making Contributions at December 31 Title of Fund 1993 1992 1991 Fixed Income Fund 545 545 561 Diversified Common Stock Fund 92 64 49 Boise Cascade Corporation Common Stock Fund 10 10 13 Participants contributing to more than one fund 298 235 180 _____ _____ _____ Total 945 854 803 FORFEITURES. Contributions that are made by participants are fully vested at the time they are made. Participants' interest in contributions that the Company has made on their behalf become vested at the earlier of the time the participant reaches age 65, or (pursuant to definitions in the Plan) the participant has made contributions to the Plan for 36 months, or has five years of credited service with the Company. Vesting also occurs upon the death of the participant, if termination of employment occurs due to total disability, or if the Company terminates the Plan. Unvested amounts that have been forfeited will generally be restored to the participant if reemployment occurs within a five-year period, as defined by the Plan. Forfeited Company contributions are used to offset amounts that the Company will contribute to the Plan in the future. PAYMENTS TO PARTICIPANTS. The Plan pays amounts due to participants who are withdrawing part or all of their interest in the Plan approximately 25 days after the end of the month during which the participant informs the Plan's administrator of his or her intention to make the withdrawal. APPRECIATION (DEPRECIATION) OF INVESTMENTS. Appreciation (depreciation) of investments in the Diversified Common Stock Fund and the Boise Cascade Corporation Common Stock Fund are recognized based on quoted market prices. The cost of any investments sold or distributed is based on average cost. The following table sets forth that portion of the total net appreciation (depreciation) that was realized through sale or distribution in each of these funds during the years ended December 31, 1993, 1992, and 1991: Boise Cascade Diversified Corporation Common Common Stock Fund Stock Fund Combined 1993 Current value $221,952 $ 15,112 $237,064 Average cost 204,533 17,580 222,113 ________ ________ ________ Net appreciation (depreciation) realized $ 17,419 $ (2,468) $ 14,951 1992 Current value $355,592 $ 1,058 $356,650 Average cost 315,952 1,471 317,423 ________ ________ ________ Net appreciation (depreciation) realized $ 39,640 $ (413) $ 39,227 1991 Current value $138,743 $ 1,682 $140,425 Average cost 121,771 1,944 123,715 ________ ________ ________ Net appreciation (depreciation) realized $ 16,972 $ (262) $ 16,710 The changes in the unrealized portion of the net appreciation (depreciation) of investments during the years were as follows: Boise Cascade Diversified Corporation Common Common Stock Fund Stock Fund Combined Balance at December 31, 1990 $ (18,574) $ (61,814) $ (80,388) Unrealized net appreciation (depreciation) 246,421 (47,820) 198,601 _________ _________ _________ Balance at December 31, 1991 227,847 (109,634) 118,213 Unrealized net appreciation (depreciation) (116,356) 5,938 (110,418) _________ _________ _________ Balance at December 31, 1992 111,491 (103,696) 7,795 Unrealized net appreciation (depreciation) (110,135) 84,172 (25,963) _________ _________ _________ Balance at December 31, 1993 $ 1,356 $ (19,524) $ (18,168) EXPENSES. The Plan provides that all expenses of administration of the Plan may be paid out of the assets of the Plan. Expenses not paid by the Plan will be paid by the Company. In 1993, the Company paid all administration expenses of the Plan, except for brokerage fees and related taxes on security transactions. Investment management fees incurred by the investment funds of the Plan are paid from the assets of the fund to which they relate. TRANSFERS FROM OTHER PLANS. During the year ended December 31, 1993, certain participants transferred their account balances from other tax-qualified profit sharing/401(k) benefit plans sponsored by previous employers into the Plan. 2. LOANS TO PARTICIPANTS Participants who have made contributions to the Plan pursuant to Code Section 401(k) may, subject to the terms of the Plan, apply for loans from the Plan secured by such contributions. Such loans do not constitute withdrawals from the Plan. The "Investments, at current value" account in the Combined Statements of Participants' Equity and Net Assets Available for Plan Benefits at December 31, 1993, 1992, and 1991, included $1,013,296, $652,994, and $339,964 of outstanding loans to Plan participants. The interest rate charged on these loans was 7.5% for 1993, 8% for 1992, and 9% for 1991. Participant loans are reflected in the Combined Statements of Changes in Participants' Equity and Net Assets Available for Plan Benefits as follows: Year Ended December 31 ___________________________________ 1993 1992 1991 Loans initiated, net of repayments and interest $ 326,812 $ 313,780 $ 231,021 Interest income 67,436 43,116 18,345 Payments to participants (33,946) (43,866) (1,658) __________ __________ __________ Increase in participants' loans 360,302 313,030 247,708 Participants' loans: Beginning of the period 652,994 339,964 92,256 __________ __________ __________ End of the period $1,013,296 $ 652,994 $ 339,964 3. FEDERAL INCOME TAXES The Plan obtained its latest determination letter on September 22, 1989, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. As so qualified, the Company is entitled, for federal income tax purposes, to deduct its contributions to the trust fund up to the maximum amount permitted by the Code. The Plan has been amended since receiving the determination letter. The Company believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, the Company believes that the Plan was qualified and the related trust was tax exempt as of the financial statement date. Under the Plan, as so qualified, the Company understands that a participant is not subject to federal income tax on his or her share of employer contri- butions, the appreciation thereon, or the appreciation on the participant's contributions until these amounts are paid to the participant. Schedule I EIN 82-01009 Item 27(a) BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
Description of Investment Including Name of Issue, Borrower, Maturity Date, Rate of Interest, Lessor, or Similar Party Collateral, Par, or Maturity Value Cost Current Value FIXED INCOME FUND State Street Bank and Trust Company(1) Pooled Investments $9,381,780 $9,381,780 DIVERSIFIED COMMON STOCK FUND Twentieth Century Investors, Inc. Growth Fund, 50,858 shares $1,124,715 $1,139,213 Select Fund, 28,549 shares 1,139,672 1,126,530 $2,264,387 $2,265,743 BOISE CASCADE CORPORATION COMMON STOCK FUND Boise Cascade Corporation(1) Boise Cascade Corporation Common Stock, 38,081 shares $ 914,428 $ 894,904 State Street Bank and Trust Company(1) Short-Term Investment Fund, due dates and interest rates variable $ 52,004 $ 52,004 PARTICIPANTS' LOAN FUND Boise Cascade Corporation(1) Loans to plan participants, due dates variable, 7.5% interest rate $1,013,296 $1,013,296 (1)Known party-in-interest.
BOISE CASCADE CORPORATION EIN 82-01009 QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) FIXED INCOME FUND SCHEDULE II -- STATEMENTS OF PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31 1993 1992 1991 Assets Investments, at current value $9,381,780 $7,143,299 $5,318,065 Cash 4,216 242 - Due from participants 337 1,581 1,226 Company contributions receivable 161 467 508 __________ __________ __________ 9,386,494 7,145,589 5,319,799 __________ __________ __________ Liabilities Due to other of the Plan's funds 3,695 - - Due to participants 20 138 - Due to Company - 2,711 - Other 4,146 1,986 1,522 __________ __________ __________ 7,861 4,835 1,522 __________ __________ __________ Participants' equity and net assets available for plan benefits at end of the year $9,378,633 $7,140,754 $5,318,277 SCHEDULE III -- STATEMENTS OF CHANGES IN PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31 1993 1992 1991 Participants' equity and net assets provided by (used for) Investment income Interest income $ 579,762 $ 482,036 $ 363,825 Contributions Participants' contributions 1,636,835 1,412,584 1,335,716 Company contributions 741,866 656,526 610,379 Forfeitures (5,756) (16,853) (11,108) Amounts transferred from other plans 13,340 - - Transfers between funds (163,802) (133,435) (12,871) Loans initiated, net of repayments and interest (261,374) (231,759) (195,240) Payments to participants (302,992) (346,622) (159,272) __________ __________ __________ Increase in participants' equity and net assets 2,237,879 1,822,477 1,931,429 Participants' equity and net assets available for plan benefits at Beginning of the year 7,140,754 5,318,277 3,386,848 __________ __________ __________ End of the year $9,378,633 $7,140,754 $5,318,277 BOISE CASCADE CORPORATION EIN 82-01009 QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) DIVERSIFIED COMMON STOCK FUND SCHEDULE II -- STATEMENTS OF PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31 1993 1992 1991 Assets Investments, at current value $2,265,743 $1,340,646 $1,055,807 Cash 629 81 491 Due from participants 1,014 245 209 Company contributions receivable 257 137 90 Due from other of the Plan's funds 1,848 - - __________ __________ __________ 2,269,491 1,341,109 1,056,597 __________ __________ __________ Liabilities Due to participants 21 26 - Due to other of the Plan's funds - 1,782 - Due to Company - 1,120 - __________ __________ __________ 21 2,928 - __________ __________ __________ Participants' equity and net assets available for plan benefits at end of the year $2,269,470 $1,338,181 $1,056,597 SCHEDULE III -- STATEMENTS OF CHANGES IN PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS Year Ended December 31 1993 1992 1991 Participants' equity and net assets provided by (used for) Investment income Dividend income and mutual fund distributions $ 243,752 $ 38,498 $ 28,142 Contributions Participants' contributions 465,240 382,002 232,265 Company contributions 193,417 158,368 96,400 Forfeitures (427) (5,137) (2,156) Amounts transferred from other plans 12,425 - - Appreciation (depreciation) of investments, net (92,716) (76,716) 263,393 Transfers between funds 164,445 (100,440) 7,731 Loans initiated, net of repayments and interest (43,292) (71,789) (25,890) Payments to participants (11,555) (43,202) (17,708) __________ __________ __________ Increase in participants' equity and net assets 931,289 281,584 582,177 Participants' equity and net assets available for plan benefits at Beginning of the year 1,338,181 1,056,597 474,420 __________ __________ __________ End of the year $2,269,470 $1,338,181 $1,056,597 BOISE CASCADE CORPORATION EIN 82-01009 QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) BOISE CASCADE CORPORATION COMMON STOCK FUND SCHEDULE II -- STATEMENTS OF PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31 1993 1992 1991 Assets Investments, at current value $ 894,904 $ 701,350 $ 349,970 Cash 222 - 1,029 Short-term securities at cost, which approximates market 52,004 23,234 25,000 Dividends receivable 5,712 4,980 2,230 Due from other of the Plan's funds 1,847 1,782 - Due from participants 20 354 137 Company contributions receivable 5 178 80 Interest receivable 105 36 93 __________ __________ __________ 954,819 731,914 378,539 __________ __________ __________ Liabilities Due to Company - 122 - Accounts payable - - 18,031 __________ __________ __________ - 122 18,031 __________ __________ __________ Participants' equity and net assets available for plan benefits at end of the year $ 954,819 $ 731,792 $ 360,508 SCHEDULE III -- STATEMENTS OF CHANGES IN PARTICIPANTS' EQUITY AND NET ASSETS AVAILABLE FOR PLAN BENEFITS December 31 1993 1992 1991 Participants' equity and net assets provided by (used for) Investment income Dividend income $ 20,860 $ 15,456 $ 15,610 Interest income 1,123 866 1,073 Contributions Participants' contributions 129,483 99,118 101,725 Company contributions 57,406 45,724 46,613 Forfeitures (721) (2,266) (1,458) Amounts transferred from other plans 328 - - Appreciation (depreciation) of investments, net 81,704 5,525 (48,082) Transfers between funds (643) 233,875 5,140 Loans initiated, net of repayments and interest (22,146) (10,232) (9,891) Payments to participants (44,367) (16,782) (8,876) __________ __________ __________ Increase in participants' equity and net assets 223,027 371,284 101,854 Participants' equity and net assets available for plan benefits at Beginning of the year 731,792 360,508 258,654 __________ __________ __________ End of the year $ 954,819 $ 731,792 $ 360,508 Schedule IV EIN 82-01009 Item 27(d) BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1993
Description of Total Expense Current Asset (Include Total Dollar Incurred Value of Interest Rate and Number Dollar Value with Asset on Identity of Maturity in of Trans- Value of of Sales Lease Trans- Cost of Transaction Net Gain Party Involved Case of Loan) actions Purchases Price Rental action Asset Date or (Loss) State Street State Street Bank and Trust Short-Term Company (1) Investment Fund, interest rates and due dates variable 40 $ 284,145 $ - $ - $ - $ 284,145 $ 284,145 $ - State Street State Street Bank and Trust Short-Term Company (1) Investment Fund, interest rates and due dates variable 21 - 255,375 - - 255,375 255,375 - Twentieth Century 27,149 shares of Investors, Inc. Growth Fund 28 638,879 - - - 638,879 638,879 - Twentieth Century 3,909 shares of Investors, Inc. Growth Fund 18 - 93,438 - - 82,767 93,438 10,671 Twentieth Century 14,447 shares of Investors, Inc. Select Fund 28 600,886 - - - 600,886 600,886 - Twentieth Century 3,147 shares of Investors, Inc. Select Fund 18 - 128,514 - - 121,766 128,514 6,748 (1) Known party-in-interest.
BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) SCHEDULE V SCHEDULE OF THE PLAN'S ACTIVITY IN THE STATE STREET BANK AND TRUST COMPANY (POOLED INVESTMENTS) Year Ended December 31, 1993 Plan's proportionate share in the net investments of the State Street Bank and Trust Company (Pooled Investments) at beginning of the year $ 7,143,299 ____________ Investments 2,741,684 Withdrawals (1,092,092) Proportionate share of the interest income earned on investments 588,889 ____________ 2,238,481 ____________ Plan's proportionate share in the net investments of the State Street Bank and Trust Company (Pooled Investments) at end of the year $ 9,381,780 The following is a summary of the assets and liabilities of the State Street Bank and Trust Company (Pooled Investments) and the Plan's proportionate share in the net assets available: December 31, 1993 Cash and cash equivalents $ 11,383,916 Fixed income securities 304,503,974 Accrued interest 1,891,890 ____________ $317,779,780 Plan's proportionate share in net assets available $ 9,381,780 Changes in assets and liabilities of the State Street Bank and Trust Company (Pooled Investments) are as follows: Year Ended December 31, 1993 Balance at beginning of the year $236,810,280 ____________ Amounts purchased by participating plans 82,998,114 Amounts withdrawn by participating plans (23,893,523) ____________ Net amounts purchased by participating plans 59,104,591 Interest income 21,864,909 ____________ Balance at end of the year $317,779,780 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. BOISE CASCADE CORPORATION QUALIFIED EMPLOYEE SAVINGS TRUST (QUEST) Date: June 15, 1994 By /s/ J. M. Gwartney J. M. Gwartney Chairman of the Retirement Committee BOISE CASCADE CORPORATION INDEX TO EXHIBIT Filed with the Report on Form 11-K for the Year Ended December 31, 1993 Reference Description Page Number (1) Exhibit A Consent of Independent Public 16 Accountants Dated June 15, 1994 (1) This material appears only in the manually signed original of the report on Form 11-K. CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incor- poration of our report dated April 15, 1994, included in this Form 11-K for the year ended December 31, 1993, into the Company's previously filed registration statement on Form S-8 (File No. 33-21964). ARTHUR ANDERSEN & CO. Boise, Idaho June 15, 1994 -----END PRIVACY-ENHANCED MESSAGE-----