-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DSp77bZj+SXJcJFO4g6lCgyKzXjBuK/1FLe925ScrwCbpqswNJ0ghQci0RIXZ6oP FHsDhi1uqUdCwlQEyQAhVQ== 0000277595-96-000012.txt : 19960627 0000277595-96-000012.hdr.sgml : 19960627 ACCESSION NUMBER: 0000277595-96-000012 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960626 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENERGEN CORP CENTRAL INDEX KEY: 0000277595 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 630757759 STATE OF INCORPORATION: AL FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07810 FILM NUMBER: 96585695 BUSINESS ADDRESS: STREET 1: 2101 SIXTH AVE N CITY: BIRMINGHAM STATE: AL ZIP: 35203 BUSINESS PHONE: 2053262742 MAIL ADDRESS: STREET 1: 2101 SIXTH AVE N CITY: BIRNINGHAM STATE: AL ZIP: 35203 FORMER COMPANY: FORMER CONFORMED NAME: ALAGASCO INC DATE OF NAME CHANGE: 19851002 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ANNUAL REPORT Pursuant to Section 15(d) of the Securities Exchange Act of 1934 [$250.00 fee required Reg. 240.13a(1)] For the fiscal year ended December 31, 1995 Commission File No. 33-46641 ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN (Full title of the plan) ENERGEN CORPORATION 2101 Sixth Avenue North Birmingham, Alabama 35203 Financial Statements and Exhibits. The following financial statements and exhibits are filed as a part of this annual report: (a) The financial statements and schedules listed in the accompanying Indexes to Financial Statements and Financial Statement Schedules. (b) Consent of Coopers & Lybrand Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed by the undersigned thereunto duly authorized. ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN /W. D. Self/ W. D. Self Chairman of Energen Benefits Committee and Vice President- Human Resources and Administration Energen Corporation /G. C. Ketcham/ G. C. Ketcham Member of Energen Benefits Committee and Executive Vice President, CFO and Treasurer Energen Corporation Date June 19, 1996 CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in the registration statement on Form S-8 (file No. 33-46641) of our report dated June 10, 1996 on our audits of the financial statements and supplemental schedules of Energen Corporation Employee Savings Plan as of December 31, 1995 and 1994, and for the years then ended, which report is included in this Annual Report on Form 11-K. COOPERS & LYBRAND L.L.P. /s/ Birmingham, Alabama June 17, 1996 ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN Financial Statements And Supplemental Schedules for the years ended December 31, 1995 and 1994 Energen Corporation Employee Savings Plan Table of Contents Pages Report of Independent Accountants 1 Financial Statements: Statements Of Participants' Balances 2 Statements Of Changes In Participants' Balances 3 Notes To Financial Statements 4-8 Financial Statement Schedules: Consolidating Statements Of Participants' Balances 9-10 Consolidating Statements Of Changes In Participants' Balances 11-12 Supplemental Schedules: *Item 27a - Schedule of Assets Held for Investment Purposes 13 *Item 27d - Schedule of Reportable Transactions 14-15 * Refers to item number in Form 5500 (Annual Return/Report Of Employees Benefit Plan) for plan year ended December 31, 1995. Report of Independent Accountants To the Energen Benefits Committee Energen Corporation Employee Savings Plan We have audited the financial statements and financial statement schedules of the Energen Corporation Employee Savings Plan listed in the accompanying table of contents, as of December 31, 1995 and 1994, and for the years then ended. These financial statements and financial statement schedules are the responsibility of the Energen Benefits Committee. Our responsibility is to express an opinion on these financial statements and financial statement schedules 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 significant 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 financial position of Energen Corporation Employee Savings Plan as of December 31, 1995 and 1994, and the changes in participants' balances for the years then ended, in conformity with generally accepted accounting principles. In addition, in our opinion, the financial statement schedules as of and for the years ended December 31, 1995 and 1994 referred to above, when considered in relation to the basic financial statements taken as a whole, present fairly, in all material respects, the information required to be included therein. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the index on page 1 are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for reporting and disclosure under the Employee Retirement Income Security Act of 1974. The supplemental 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. COOPERS & LYBRAND L.L.P. /s/ Birmingham, Alabama June 10, 1996 Energen Corporation Employee Savings Plan Statements of Participants' Balances December 31, 1995 and 1994 ASSETS 1995 1994 Investment in Energen Corporation common stock (cost $22,997,501 and $21,153,073 at December 31, 1995 and 1994, respectively) $ 29,494,001 $ 25,918,659 Other investments (cost $21,140,606 and $16,805,573 at December 31, 1995 and 1994 , respectively) 23,985,641 16,931,848 Loans to participants 3,681,119 3,258,657 Cash surrender value of life insurance 87,204 106,733 Employer contributions receivable 551,977 529,742 Employee contributions receivable 255,280 247,591 Interest, dividends, and other receivables 24,220 19,711 $ 58,079,442 $ 47,012,941 LIABILITIES AND PARTICIPANTS' BALANCES Participants' balance $58,079,442 $47,012,941 The accompanying notes are an integral part of these financial statements. Energen Corporation Employee Savings Plan Statements of Changes in Participants' Balances for the years ended December 31, 1995 and 1994 1995 1994 Additions: Employer contributions $ 2,969,517 $ 2,818,136 Employee contributions 3,120,720 3,002,067 Interest and dividend income 2,784,352 2,049,255 Net appreciation in the fair value of investments 5,767,839 141,463 Increase (decrease) in cash surrender value (8,269) 17,785 Other receipts 34,440 14,616 14,668,599 8,043,322 Deductions: Distributions to participants 3,589,138 1,080,491 Insurance premiums 11,260 13,960 Fees and other distributions 1,700 3,602,098 1,094,451 Net increase 11,066,501 6,948,871 Participants' balances: Beginning of year 47,012,941 40,064,070 End of year $ 58,079,442 $ 47,012,941 The accompanying notes are an integral part of these financial statements. Energen Corporation Employee Savings Plan Notes to Financial Statements 1. Description of Plan General - The Energen Corporation Employee Savings Plan is a defined contribution plan covering substantially all employees of Energen Corporation, Alabama Gas Corporation, Taurus Exploration, Inc., Alagasco Pipeline Company, Taurus Exploration USA, Inc., EGN Services, Inc. and Basin Pipeline Corporation (collectively referred to as the Company). Employees are eligible to participate in the Plan after completing six months of service as defined in the Plan. Individual accounts are maintained for each participant in the Plan and are adjusted for allocation of assets purchased with the Company Employee Stock Ownership Plan (ESOP) contribution, employee contributions, Company matching contribution, and investment income. An administrative committee and a trustee are appointed by the Company to administer the Plan and trust, respectively. The Company generally absorbs the administrative expenses of the Plan. Contributions - Contributions to the Plan consist of employee elective contributions, Company matching and ESOP contributions, and rollover contributions. Employee elective contributions, if any, are made in an amount equal to any whole percentage of the employee's compensation, generally not to exceed 15% thereof and not less than 2% thereof. Company matching contributions are presently being funded at the end of each month. This contribution is currently 50% of each employee's elective contribution up to 6% of the employee's compensation, such contribution level being at the discretion of the board of directors of the Company. Contributions by highly compensated employees are subject to certain limitations as prescribed by the Plan. Company ESOP contributions are presently being funded each quarter and are at the discretion of the board of directors. The formula used to allocate the ESOP contribution is determined annually. Current contribution levels range from 2.25% to 7% of the employee's annual compensation, based on the employee's age. The amount of forfeited nonvested accounts at December 31, 1995 was approximately $9,600 and was held primarily in the Vanguard Money Market Reserve-Prime Portfolio account. The Company plans to use all of this amount to reduce its future contributions to the Plan. Vesting - Each participant has a fully vested and nonforfeitable right in any elective and rollover contributions and earnings thereon. A participant's matching and ESOP contribution accounts become fully vested upon the earlier of normal retirement, disability, death, termination of the Plan, three years of service as a plan member, or five years of service. Individual Accounts - Each participant has an individual account which is divided into an elective contribution account, a matching contribution account, an ESOP contribution account, and a rollover account. Purchases of stock are allocated to individual participants' elective, matching, and ESOP accounts as set forth in the Plan. Stock purchased with the Company matching contributions is allocated based on the ratio of a participant's compensation, as defined in the Plan, for the plan year to total compensation of all such participants for the plan year. Stock purchased with cash dividends or with the proceeds of other distributions from the Plan's assets and stock received in kind by the trustee as a stock split, dividend, or other distribution of stock so held is allocated based on the ratio of a participant's account balance to the total account balances of all participants as of the record dates of the dividend or distribution. Cash dividends attributable to shares which have not yet been allocated to individual participants' accounts shall be used to purchase shares for allocation in the same manner that shares purchased with the Company matching contributions are allocated. Investments - As of December 31, 1995, participants may elect one of fourteen options: The Vanguard Money Market Reserves - Prime Portfolio, a money market fund with a portfolio of high quality money market instruments that mature in one year or less; the Vanguard/Wellington Fund, a balanced fund which invests in bonds and common stocks; the Vanguard Index Trust - 500 Portfolio, a growth and income fund that invests in all of the stocks included in the Standard and Poor's 500 Index in approximately the same proportions as they are represented in the S&P 500 Index; the Vanguard/Windsor II, a growth and income fund which invests in common stocks; the Vanguard/Morgan Growth Fund, a growth fund which invests in a portfolio of common stocks; the Vanguard International Growth Portfolio, a growth fund which invests in the common stocks of companies based outside of the United States; the Vanguard Fixed Income Securities Fund - Long-Term Corporate Portfolio, an income fund which invests in a diversified portfolio of long-term investment-grade bonds; the Energen Stock Fund, which invests exclusively in the stock of Energen Corporation; the Vanguard Fixed Income Securities Fund - Intermediate-Term Corporate Portfolio, an income fund which invests in corporate bonds, U.S. Treasury and Government agency securities that mature in five to twelve years; the Vanguard Index Trust - Small Capitalization Stock Portfolio, an aggressive growth stock fund which invests in stocks from the Russell 2000 Index and is constructed so that, in the aggregate, the Portfolio's industry capitalization and fundamental characteristics resemble those of the Russell 2000; the Vanguard Life Strategy Funds - Growth Portfolio, Vanguard Life Strategy Funds - Moderate Growth Portfolio, Vanguard Life Strategy Funds - Conservative Growth Portfolio, and Vanguard Life Strategy Funds - The Income Portfolio, funds which invest in carefully selected portfolios of Vanguard Mutual Funds. Prior to December 31, 1986, there was a life insurance option available to participants of the Plan. No new contracts may be purchased under this option; however, participants that were enrolled in this option may still contribute to this fund which invests in universal life insurance policies. The number of employees participating in each option as of December 31, 1995 and 1994 is as follows: 1995 1994 Vanguard Money Market Reserves - Prime Portfolio 1,014 1,068 Vanguard Fixed Income Securities Fund - Long-Term Corporate Portfolio 290 293 Vanguard/Wellington Fund 610 609 Vanguard Index Trust - 500 Portfolio 804 804 Vanguard/Windsor II 401 387 Vanguard/Morgan Growth Fund 511 500 Vanguard International Growth Portfolio 343 343 Energen Stock Fund 1,533 1,565 Life Insurance Fund 21 31 Vanguard Index Small Cap Portfolio 32 Life Strategy Income Portfolio 3 Life Strategy Conservative Growth 11 Intermed-Term Corporate Bond 9 Life Strategy Moderate Growth 17 Loans - Participants may borrow from their vested individual accounts up to amounts prescribed in the Plan. The interest rates on these loans at December 31, 1995 ranged from 9.50% to 10.00%. Termination of the Plan - While the Company has not expressed any intent to terminate the Plan or suspend contributions, it may do so at any time and for any reason. In the event of termination, the committee may, with the Company's approval either (1) continue the Trust Fund either through the existing trust agreement or through successor funding media or (2) terminate the Trust Fund, pay all expenses, and direct the payment of benefits, either in the form of lump-sum distributions, transfer to another qualified plan, or any form selected by the committee. Any assets attributable to unallocated financed shares that remain after all vested account balances under the Plan have been paid will be returned to the employer. Distribution to a member of his elective contribution account which is not otherwise distributable on account of his separation from service, attainment of age 59-1/2, or hardship will be made only where no successor to the Plan is established. 2. Summary of Significant Accounting Policies Basis of Financial Statements - The financial statements of the Plan are maintained on the accrual basis and have been prepared in conformity with generally accepted accounting principles. Investment Valuation - The investment in common stock of Energen Corporation is stated at quoted market value as determined by the latest sales price thereof reported by the principal securities exchange on which the stock is traded on the last business day of the year. Purchases of securities are recorded on the trade dates. The investment in money market instruments represents the value of contributions made, adjusted for investment income, benefit payments, and administrative expenses. Investments in mutual funds are carried at the fair value of funds' shares, which is based upon the market value of the underlying investments. The cost of securities sold is determined at average cost. This method of determining gains and losses on the sales of investments is in accordance with generally accepted accounting principles, which differs from the current value method used in the preparation of the Plan's Form 5500. The Plan presents in the statement of changes in net assets the net appreciation (depreciation) in the fair value of its investments which consists of the realized gains and losses and the unrealized appreciation (depreciation) on those investments. 3. Income Tax Status The Plan is exempt from federal income taxes under Section 501(a) of the Internal Revenue Code. The Plan obtained its latest determination letter on April 22, 1993, 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. The Plan has been amended since receiving the determination letter. However, the Plan Administrator and the Plan's tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no provision for income taxes has been included in the Plan's financial statements. 4. Investments Investments at December 31, 1995 and 1994 are as follows: 1995 1994 Market Cost Market Cost Energen Corporation common stock $ 29,494,001 $ 22,997,501 $ 25,918,659 $ 21,153,073 Money market and guaranteed rate short-term investments $ 7,398,204 $ 7,398,204 $ 6,608,562 $ 6,608,562 Mutual funds 16,587,437 13,742,402 10,323,286 10,197,011 $ 23,985,641 $ 21,140,606 $ 16,931,848 $ 16,805,573 The following is a summary of assets held in excess of 5% of the Plan's net assets at December 31: 1995 1994 Energen Corporation common stock $ 29,494,001 $ 25,918,659 Vanguard Index 500 Portfolio $ 5,901,135 $ 3,814,186 VMMR - Prime Portfolio $ 7,398,204 $ 6,608,562 Vanguard Wellington Fund $ 2,993,129 The investments of the Plan at December 31, 1995 and 1994, as described in the accompanying Statements of Participants' Balances, are held by Vanguard Fiduciary Trust Company, under a trust agreement dated October 1, 1991. Financial Statement Schedules Energen Corporation Financial Statement Schedule Employee Savings Plan Consolidating Statement of Participants' Balances December 31, 1995 Energen Corporation Employee Savings Plan Consolidating Statement of Participants' Balances December 31, 1995 Consolidated Elimination Energen Assets Totals Entries Stock Fund Energen Common Stock $29,494,001 $29,494,001 Loans to Participants 3,681,119 Other Investments 23,985,641 Employer Contributions Receivable 551,977 551,977 Employee Contributions Receivable 255,280 28,816 Interest and Dividends Receivable 24,220 Due from other funds 0 ($108,932) 15,224 Cash Surrender Value- Life Insurance 87,204 Total Assets $58,079,442 ($108,932) $30,090,018 Liabilities and Participants' Balances Due to Other Funds 0 (108,932) Participants' Balances 58,079,442 30,090,018 Total Liabilities and Participants' Balance $58,079,442 ($108,932) $30,090,018 Vanguard Life Strategy Vanguard Morgan Growth Wellington Growth Assets Portfolio Fund Fund Energen Common Stock Loans to Participants Other Investments $255,949 $2,993,129 $2,521,219 Employer Contributions Receivable Employee Contributions Receivable 2,192 33,038 25,945 Interest and Dividends Receivable Due from other funds 327 14,677 9,544 Cash Surrender Value- Life Insurance Total Assets $258,468 $3,040,844 $2,556,708 Liabilities and Participants' Balances Due to Other Funds Participants' Balances 258,468 3,040,844 2,556,708 Total Liabilities and Participants' Balance $258,468 $3,040,844 $2,556,708 Vanguard Fixed Income Vanguard Securities VMMR Prime Index 500 Assets (continued) Fund Portfolio Portfolio Energen Common Stock Loans to Participants Other Investments $806,137 $7,398,204 $5,901,135 Employer Contributions Receivable Employee Contributions Receivable 10,637 56,135 54,582 Interest and Dividends Receivable Due from other funds 4,063 26,916 22,454 Cash Surrender Value- Life Insurance Total Assets $820,837 $7,481,255 $5,978,171 Liabilities and Participants' Balances Due to Other Funds Participants' Balances 820,837 7,481,255 5,978,171 Total Liabilities and Participants' Balance $820,837 $7,481,255 $5,978,171 Vanguard Vanguard Vanguard Life Strategy Life Strategy Index Small Income Conserv. Assets (continued) Cap Port Portfolio Growth Energen Common Stock Loans to Participants Other Investments $132,236 $10,872 $291,810 Employer Contributions Receivable Employee Contributions Receivable 2,225 5 738 Interest and Dividends Receivable Due from other funds 707 859 Cash Surrender Value- Life Insurance Total Assets $135,168 $10,877 $293,407 Liabilities and Participants' Balances Due to Other Funds Participants' Balances 135,168 10,877 293,407 Total Liabilities and Participants' Balance $135,168 $10,877 $293,407 Vanguard Vanguard Intermediate International Term. Corp. Vanguard Growth Assets (continued) Portfolio Windsor II Portfolio Energen Common Stock Loans to Participants Other Investments $35,799 $1,846,881 $1,701,004 Employer Contributions Receivable Employee Contributions Receivable 80 21,489 18,041 Interest and Dividends Receivable Due from other funds 6,983 6,703 Cash Surrender Value- Life Insurance Total Assets $35,879 $1,875,353 $1,725,748 Liabilities and Participants' Balances Due to Other Funds Participants' Balances 35,879 1,875,353 1,725,748 Total Liabilities and Participants' Balance $35,879 $1,875,353 $1,725,748 Vanguard Life Strategy Mod. Growth Assets (continued) Portfolio Loan Fund Insurance Energen Common Stock Loans to Participants $3,681,119 Other Investments $91,266 Employer Contributions Receivable Employee Contributions Receivable 1,357 Interest and Dividends Receivable 24,220 Due from other funds 475 Cash Surrender Value- Life Insurance $87,204 Total Assets $93,098 $3,705,339 $87,204 Liabilities and Participants' Balances Due to Other Funds 108,932 Participants' Balances 93,098 3,596,407 87,204 Total Liabilities and Participants' Balance $93,098 $3,705,339 $87,204 Energen Corporation Financial Statement Schedule Employee Savings Plan Consolidating Statement of Participants' Balances December 31, 1994 ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN CONSOLIDATING STATEMENT OF PARTICIPANTS' BALANCES December 31, 1994
Vanguard Star Vanguard Vanguard Long Term Consolidated Elimination Energen Growth Wellington Morgan Growth Corporate Assets Totals Entries Stock Fund Portfolio Fund Fund Bond Investment in Energen Corporation common st$25,918,659 $25,918,659 Other investments 16,931,848 $1,864,198 $1,676,267 $492,053 Loans to participants 3,258,657 Cash surrender value of 106,733 life insurance Employer contributions receivable 529,742 529,742 Employee contributions receivable 247,591 31,077 $923 33,260 21,284 10,900 Interest, dividends and 0 other receivables 19,711 Due from other funds 0 (99,241) 14,577 13,480 7,816 4,147 ------------ ----------------------------------------------------------------------------- $47,012,941 (99,241) $26,494,055 $923 $1,910,938 $1,705,367 $507,100 Total Assets ============ ============================================================================= Liabilities and Participants' Balances Due to Other funds $0 ($99,241) Participants' Balances 47,012,941 $26,494,055 $923 $1,910,938 $1,705,367 $507,100 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Total Liabilities and Participants' Balances$47,012,941 ($99,241) $26,494,055 $923 $1,910,938 $1,705,367 $507,100 ============ ============ ============ ============ ============ ============ ============ (CONTINUED) Vanguard Vanguard Intermediate Internatl. Vanguard Star Assets VMMR Prime Index 500 Index Small Term Corp. Vanguard Growth Mod. Growth Portfolio Portfolio Cap. Port. Bond Windsor II Portfolio Portfolio Investment in Energen Corporation common stock Other investments $6,608,563 $3,814,185 $1,136,715 $1,339,867 Loans to participants Cash surrender value of life insurance Employer contributions receivable Employee contributions receivable 59,977 49,152 $91 $15 19,783 20,736 $393 Interest, dividends and other receivables Due from other funds 26,606 19,177 9 6,602 6,827 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Total Assets $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393 ============ ============ ============ ============ ============ ============ ============ Liabilities and Participants' Balances Due to Other funds Participants' Balances $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Total Liabilities and Participants' Balances $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393 ============ ============ ============ ============ ============ ============ ============ (CONTINUED) Assets Loan Fund Insurance Investment in Energen Corporation common stock Other investments Loans to participants $3,258,657 Cash surrender value of $106,733 life insurance Employer contributions receivable Employee contributions receivable Interest, dividends and other receivables 19,711 Due from other funds ------------ ------------ Total Assets $3,278,368 $106,733 ============ ============ Liabilities and Participants' Balances Due to Other funds $99,241 Participants' Balances 3,179,127 $106,733 ------------ ------------ Total Liabilities and Participants' Balances $3,278,368 $106,733 ============ ============
Energen Corporation Financial Statement Schedule Employee Savings Plan Consolidating Statement of Changes in Participants' Balances for the year ended December 31, 1995 Consolidated Elimination Energen Additions Totals Entries Stock Fund Employer Contributions $2,969,517 $2,969,517 Employee Contributions 3,120,720 370,781 Interest and Dividend Income 2,784,352 1,390,600 Net appreciation (depreciation) in the FV of investments 5,767,839 2,665,227 Increase (decrease) in Cash Surrender Value (8,269) Other Receipts 34,440 1,888 Transfers from other accounts 0 ($7,814,719) 441,022 Total Additions 14,668,599 (7,814,719) 7,839,035 Deductions Distributions to Participants 3,589,138 1,263,521 Insurance Premiums 11,260 Fees and other Distributions 1,700 Transfers to Other accounts 0 (7,814,719) 2,979,551 Total Deductions 3,602,098 (7,814,719) 4,243,072 Net Increase/(Decrease) 11,066,501 0 3,595,963 Participants' Balance BOY 47,012,941 26,494,055 Participants' Balances EOY $58,079,442 $0 $30,090,018 Vanguard Life Strategy Vanguard Morgan Growth Wellington Growth Additions (continued) Portfolio Fund Fund Employer Contributions Employee Contributions $22,777 $414,546 $277,081 Interest and Dividend Income 8,889 143,636 214,271 Net appreciation (depreciation) in the FV of investments 36,516 540,993 412,164 Increase (decrease) in Cash Surrender Value Other Receipts 4,585 731 Transfers from other accounts 217,196 483,672 377,608 Total Additions 285,378 1,587,432 1,281,855 Deductions Distributions to Participants 12,708 158,836 127,313 Insurance Premiums Fees and other Distributions Transfers to Other accounts 15,125 298,690 303,201 Total Deductions 27,833 457,526 430,514 Net Increase/(Decrease) 257,545 1,129,906 851,341 Participants' Balance BOY 923 1,910,938 1,705,367 Participants' Balances EOY $258,468 $3,040,844 $2,556,708 Vanguard Fixed Income Vanguard Securities VMMR Prime Index 500 Additions (continued) Fund Portfolio Portfolio Employer Contributions Employee Contributions $134,055 $714,905 $640,539 Interest and Dividend Income 46,982 402,797 133,707 Net appreciation (depreciation) in the FV of investments 106,456 1,399,332 Increase (decrease) in Cash Surrender Value Other Receipts 2,284 18,184 2,949 Transfers from other accounts 155,620 2,098,106 968,102 Total Additions 445,397 3,233,992 3,144,629 Deductions Distributions to Participants 28,765 1,101,530 378,292 Insurance Premiums Fees and other Distributions Transfers to Other accounts 102,895 1,346,353 670,680 Total Deductions 131,660 2,447,883 1,048,972 Net Increase/(Decrease) 313,737 786,109 2,095,657 Participants' Balance BOY 507,100 6,695,146 3,882,514 Participants' Balances EOY $820,837 $7,481,255 $5,978,171 Vanguard Vanguard Vanguard Life Strategy Life Strategy Index Small Income Conserv. Additions (continued) Cap Port Portfolio Growth Employer Contributions Employee Contributions $13,730 $407 $8,693 Interest and Dividend Income 4,933 246 10,616 Net appreciation (depreciation) in the FV of investments 9,891 224 15,963 Increase (decrease) in Cash Surrender Value Other Receipts Transfers from other accounts 159,198 10,000 258,408 Total Additions 187,752 10,877 293,680 Deductions Distributions to Participants 31,963 Insurance Premiums Fees and other Distributions 1,700 Transfers to Other accounts 19,021 273 Total Deductions 52,684 0 273 Net Increase/(Decrease) 135,068 10,877 293,407 Participants' Balance BOY 100 0 0 Participants' Balances EOY $135,168 $10,877 $293,407 Vanguard Vanguard Intermediate International Term. Corp. Vanguard Growth Additions (continued) Portfolio Windsor II Portfolio Employer Contributions Employee Contributions $4,598 $252,357 $247,701 Interest and Dividend Income 622 109,543 45,194 Net appreciation (depreciation) in the FV of investments 921 388,497 172,422 Increase (decrease) in Cash Surrender Value Other Receipts 3,242 577 Transfers from other accounts 45,625 370,278 317,422 Total Additions 51,766 1,123,917 783,316 Deductions Distributions to Participants 216,835 52,751 Insurance Premiums Fees and other Distributions Transfers to Other accounts 15,902 194,829 372,247 Total Deductions 15,902 411,664 424,998 Net Increase/(Decrease) 35,864 712,253 358,318 Participants' Balance BOY 15 1,163,100 1,367,430 Participants' Balances EOY $35,879 $1,875,353 $1,725,748 Vanguard Life Strategy Mod. Growth Additions (continued) Portfolio Loan Fund Insurance Employer Contributions Employee Contributions $18,550 Interest and Dividend Income 3,679 $268,637 Net appreciation (depreciation) in the FV of investments 19,233 Increase (decrease) in Cash Surrender Value ($8,269) Other Receipts 0 Transfers from other accounts 174,499 1,737,963 Total Additions 215,961 2,006,600 (8,269) Deductions Distributions to Participants 123,152 93,472 Insurance Premiums 11,260 Fees and other Distributions Transfers to Other accounts 104 1,495,848 Total Deductions 123,256 1,589,320 11,260 Net Increase/(Decrease) 92,705 417,280 (19,529) Participants' Balance BOY 393 3,179,127 106,733 Participants' Balances EOY $93,098 $3,596,407 $87,204 Energen Corporation Financial Statement Schedule Employee Savings Plan Consolidating Statement of Changes in Participants' Balances for the year ended December 31, 1994 ENERGEN CORPORATION EMPLOYEE SAVINGS PLAN CONSOLIDATING STATEMENT OF CHANGES IN PARTICIPANTS' BALANCES for the year ended December 31, 1994
Vanguard Sta Vanguard Vanguard Long Term ConsolidatedElimination Energen Growth Wellington Morgan Growt Corporate ADDITIONS Totals Entries Stock Fund Portfolio Fund Fund Bond Employer Contributions $2,818,136 $2,835,736 Employee Contributions 3,002,067 359,904 $923 $418,341 $278,924 $130,576 Interest and Dividend income 2,049,255 1,195,465 79,445 63,252 35,025 Net appreciation (depreciation) in the fair value of inves 141,463 537,466 (88,081) (88,383) (56,521) Increase in cash surrender va 17,785 Other Receipts 14,616 4,196 3,802 1,658 Transfers from other funds 0 (4,207,262) 385,495 302,203 170,588 68,804 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total additions 8,043,322 (4,207,262) 5,318,262 923 715,710 424,381 179,542 DEDUCTIONS Distributions to Participants 1,080,491 411,014 49,841 43,215 3,271 Insurance Premiums 13,960 Fees and other Distributions 0 Transfers to other funds 0 (4,207,262) 250,934 282,042 231,764 80,201 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total deductions 1,094,451 (4,207,262) 661,948 0 331,883 274,979 83,472 Net increase (decrease) 6,948,871 0 4,656,314 923 383,827 149,402 96,070 Participants' Balances: Beginning of year 40,064,070 0 21,837,741 0 1,527,111 1,555,965 411,030 End of year 47,012,941 $0 26,494,055 $923 $1,910,938 $1,705,367 $507,100 =========== =========== =========== =========== =========== =========== =========== (CONTINUED) Vanguard Vanguard Intermediate Internatl. Vanguard Star VMMR Prime Index 500 Index Small Term. Corp. Vanguard Growth Mod. Growth ADDITIONS Portfolio Portfolio Cap. Port. Bond Windsor II Portfolio Portfolio Employer Contributions ($17,600) Employee Contributions 737,916 $596,225 $91 $15 $249,539 $229,220 $393 Interest and Dividend income 259,036 113,186 68,712 17,792 Net appreciation (depreciation) in the fair value of investments (65,408) (81,933) (15,677) Increase in cash surrender values Other Receipts 1,789 1,081 828 1,264 Transfers from other funds 699,824 453,614 9 199,459 315,224 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total additions 1,680,965 1,098,698 100 15 436,605 547,823 393 DEDUCTIONS Distributions to Participants 398,689 92,660 10,017 19,355 Insurance Premiums Fees and other Distributions Transfers to other funds 1,187,528 364,874 222,103 173,019 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total deductions 1,586,217 457,534 0 0 232,120 192,374 0 Net increase (decrease) 94,748 641,164 100 15 204,485 355,449 393 Participants' Balances: Beginning of year 6,600,398 3,241,350 0 0 958,615 1,011,981 0 End of year $6,695,146 $3,882,514 $100 $15 $1,163,100 $1,367,430 $393 =========== =========== =========== =========== =========== =========== =========== (CONTINUED) ADDITIONS Loan Fund Insurance Employer Contributions Employee Contributions Interest and Dividend income $217,342 Net appreciation (depreciation) in the fair value of investments Increase in cash surrender values $17,785 Other Receipts (2) Transfers from other funds 1,612,042 ----------- ----------- Total additions 1,829,382 17,785 DEDUCTIONS Distributions to Participants 52,429 Insurance Premiums 13,960 Fees and other Distributions Transfers to other funds 1,414,797 ----------- ----------- Total deductions 1,467,226 13,960 Net increase (decrease) 362,156 3,825 Participants' Balances: Beginning of year 2,816,971 102,908 End of year $3,179,127 $106,733 =========== ===========
Supplemental Schedules Item 27a - Schedule of Assets Held for Investment Purposes at December 31, 1995 c. Description Of Investment Including b. Identity Of Issue, Maturity Date, Rate Of Borrower, Lessor, Interest, Collateral, e.Current a Or Similar Party Par, Or Maturity Value d. Cost Value * Energen Corporation Common stock $ 22,997,501 $29,494,001 * W.L. Morgan Growth Fund Mutual fund 2,278,167 2,521,219 * Vanguard Index 500 Portfolio Mutual fund 4,432,083 5,901,135 * VMMR-Prime Portfolio Money market fund 7,398,204 7,398,204 * Wellington Fund Mutual fund 2,519,791 2,993,128 * VFISF-Corporate Bond Fund Mutual fund 749,094 806,137 * Windsor II Fund Mutual fund 1,565,862 1,846,881 * International Growth Fund Mutual fund 1,439,573 1,701,003 * Life Strategy Growth Portfolio Mutual fund 222,441 255,947 * Vanguard Index Small Cap Portfolio Mutual fund 127,659 132,236 * Life Strategy Income Portfolio Mutual fund 10,648 10,872 * Life Strategy Conservative Growth Mutual fund 275,862 291,810 * Intermediate-Term Corporate Bond Mutual fund 34,910 35,799 * Life Strategy Moderate Growth Mutual fund 86,312 91,266 * Loan Fund (participant loans) 7% to 10% 3,681,119 * Cash surrender value of life insurance 87,204 87,204 $ 44,225,311 $ 57,247,961 * Represents party-in-interest Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1995 I. Single transactions exceeding 5% of assets. NONE II. Series of transactions involving property other than securities. Schedule Attached NOTE - Information required in Columns e, f, and h is not applicable. III. Series of transactions of same issue exceeding 5% of assets. Schedule Attached NOTE - Information required in Columns e, f, and h is not applicable. IV. Transactions in conjunction with same person involved in reportable single transactions. NONE Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1995 a. Identity Of b. Description c. Purchases d. Sales g. Cost Of i. Net Gain Party Involved Of Asset Price Number Price Number Asset (Loss) *Energen Corporation Common stock $5,135,184/68 $4,243,071/164 $3,308,765 $934,306 *VMMR Prime Portfolio Money market $3,237,525/163 $2,447,884/174 $2,447,884 $-0- * Represents a party-in-interest -----END PRIVACY-ENHANCED MESSAGE-----