-----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, qTHvIbP3cpzGxb/VTFoJo5u9R3WoCGlIzDreWSfGYNS9OH7x8DR7YJvAw9X3chzl 0dzXAf5YhQMyQgO7LtTDgA== 0000277948-94-000013.txt : 19940706 0000277948-94-000013.hdr.sgml : 19940706 ACCESSION NUMBER: 0000277948-94-000013 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CSX CORP CENTRAL INDEX KEY: 0000277948 STANDARD INDUSTRIAL CLASSIFICATION: 4011 IRS NUMBER: 621051971 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08022 FILM NUMBER: 94536923 BUSINESS ADDRESS: STREET 1: ONE JAMES CNTR STREET 2: 901 E CARY ST CITY: RICHMOND STATE: VA ZIP: 23219 BUSINESS PHONE: 8047821400 11-K 1 ACL THRIFT PLAN PAGE 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1993 or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 1-8022 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: CSX CORPORATION A Virginia Corporation IRS Employer Identification Number 62-1051971 901 East Cary Street Richmond, Virginia 23219 (804) 782-1400 - 1 - PAGE 2 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN INDEX TO FINANCIAL STATEMENTS Page No. -------- Audited Financial Statements Report of Ernst & Young, Independent Auditors 3 Statement of Net Assets Available for Plan Benefits - December 31, 1993 4 Statement of Net Assets Available for Plan Benefits - December 31, 1992 5 Statement of Changes in Net Assets Available for Plan Benefits - Year Ended December 31, 1993 6 Statement of Changes in Net Assets Available for Plan Benefits - Year Ended December 31, 1992 7 Notes to Financial Statements 8-13 Supplemental Schedule Transactions or Series of Transactions in Excess of 5% of the Fair Value of Plan Assets - Year Ended December 31, 1993 15 Signature 16 - 2 - PAGE 3 REPORT OF ERNST & YOUNG, INDEPENDENT AUDITORS --------------------------------------------- The Administrative Committee American Commercial Lines, Inc Thrift Plan American Commercial Lines, Inc. Jeffersonville, Indiana We have audited the accompanying statements of net assets available for plan benefits of the American Commercial Lines, Inc. Thrift Plan ("Plan") as of December 31, 1993 and 1992, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibi- lity 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 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 net assets available for plan benefits of the Plan at December 31, 1993 and 1992, and the changes in its 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 accompanying supplemental schedule of transactions or series of transactions in excess of 5% of the fair value of plan assets for the year ended December 31, 1993 is presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and is not a required part of the basic financial statements. The supplemental schedule has been subjected to the auditing procedures applied in our audit of the 1993 financial statements and, in our opinion, is fairly stated in all material respects in relation to the 1993 basic financial statements taken as a whole. /s/ ERNST & YOUNG Richmond, Virginia ----------------- June 17, 1994 Ernst & Young - 3 - PAGE 4 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS (Thousands of Dollars)
DECEMBER 31, 1993 ---------------------------------------------------------------------- United States CSX Government Common Protected Growth Obligation Stock Income Diversified Equity Fund Fund Fund Equity Fund Fund Total ------------- ------ --------- ----------- ------ ------ ASSETS $ - $ - $ - $ - $ - $ - ------- ------ ------- ------ ------ ------ LIABILITIES - - - - - - ------- ------ ------- ------ ------ ------ NET ASSETS AVAILABLE FOR PLAN BENEFITS $ - $ - $ - $ - $ - $ - ======= ====== ======= ====== ====== ======
See Notes to Financial Statements. - 4 - PAGE 5 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS (Thousands of Dollars)
DECEMBER 31, 1992 ---------------------------------------------------------------------- United States CSX Government Common Protected Growth Obligation Stock Income Diversified Equity Fund Fund Fund Equity Fund Fund Total -------- -------- --------- ---------- --------- ----- ASSETS Investments: United States Government obligations (cost--$4,684) $4,849 $ - $ - $ - $ - $4,849 Commonwealth Insurance Guaranteed Investment Contract (cost equals market) - - 5,694 - - 5,694 Liberty National Bank Treasury Bill Index Account (cost equals market) 250 378 71 106 358 1,163 CSX Corporation common stock (cost-- $6,871) - 15,355 - - - 15,355 Fidelity Equity Income Fund (cost--$1,628) - - - 1,798 - 1,798 Mutual Service Fund, Inc. Qualified Income Fund (cost--$1,235) - - - 1,339 - 1,339 Fidelity Magellan Fund, Inc. (cost--$1,306) - - - - 1,321 1,321 Contributions receivable, net of forfeitures: Employee 28 63 44 39 24 198 Employer - 44 - - - 44 Accrued income 100 1 - 59 1 161 Interfund transfers receivable (payable) 52 (109) 25 16 16 - ------ ------- ------ ------ ------ ------- 5,279 15,732 5,834 3,357 1,720 31,922 ------ ------- ------ ------ ------ ------- LIABILITIES Accounts payable for assets acquired - - - 59 - 59 ------ ------- ------ ------ ------ ------- - - - 59 - 59 ------ ------- ------ ------ ------ ------- NET ASSETS AVAILABLE FOR PLAN BENEFITS $5,279 $15,732 $5,834 $3,298 $1,720 $31,863 ====== ======= ====== ====== ====== =======
See Notes to Financial Statements. - 5 - PAGE 6 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS (Thousands of Dollars)
YEAR ENDED DECEMBER 31, 1993 --------------------------------------------------------------------- United States CSX Government Common Protected Growth Obligation Stock Income Diversified Equity Fund Fund Fund Equity Fund Fund Total -------- -------- -------- ----------- -------- ----- ADDITIONS: Investment income: Dividends $ - $ 355 $ - $ 162 $ 219 $ 736 Interest 348 9 310 107 6 780 Net Realized and Unrealized Appreciation/(Depreciation) of Investments (32) 2,979 - 463 170 3,580 Contributions: Employees 309 679 610 501 308 2,407 Employers - 1,425 - - - 1,425 ------- ------ ------- ------- ------ ------ 625 5,447 920 1,233 703 8,928 DEDUCTIONS: Distributions to Participants (990) (2,299) (850) (463) (190) (4,792) INTERFUND TRANSFERS (154) (23) (377) 284 270 - ------- ------ ------- ------- ------ ------ NET INCREASE (DECREASE) FROM PLAN OPERATIONS (519) 3,125 (307) 1,054 783 4,136 Net assets available for plan benefits at beginning of year 5,279 15,732 5,834 3,298 1,720 31,863 ------- ------ ------- ------- ------ ------ Net Assets Available for Plan Benefits prior to Transfer to Tax Savings Thrift Plan for Employees of CSX Corporation and Affiliated Companies 4,760 18,857 5,527 4,352 2,503 35,999 Transfer to Tax Savings Thrift Plan for Employees of CSX Corporation and Affiliated Companies (4,760) (18,857) (5,527) (4,352) (2,503) (35,999) ------- ------ ------- ------- ------ ------ NET ASSETS AVAILABLE FOR BENEFITS AT END OF YEAR $ - $ - $ - $ - $ - $ - ======= ====== ======= ======= ====== ======
See Notes to Financial Statements. - 6 - PAGE 7 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS (Thousands of Dollars)
YEAR ENDED DECEMBER 31, 1992 --------------------------------------------------------------------- United States CSX Government Common Protected Growth Obligation Stock Income Diversified Equity Fund Fund Fund Equity Fund Fund Total -------- -------- -------- ----------- -------- ----- ADDITIONS: Investment income: Dividends $ - $ 337 $ - $ 173 $ 177 $ 687 Interest 442 12 383 5 7 849 Net Realized and Unrealized Appreciation/(Depreciation) of Investments (73) 2,474 - 316 (93) 2,624 Contributions: Employees 357 720 599 491 283 2,450 Employers - 1,430 - - - 1,430 Transfers from American Commercial Vessel and Terminal Employee's Savings Plan - 107 120 - - 227 ------ ------- ------ ------ ------ ------- 726 5,080 1,102 985 374 8,267 DEDUCTIONS: Distributions to Participants (1,055) (2,277) (1,195) (378) (80) (4,985) Other disbursements (19) (21) (1) - - (41) ------ ------- ------ ------ ------ ------- (1,074) (2,298) (1,196) (378) (80) (5,026) INTERFUND TRANSFERS (9) (292) (155) 83 373 - ------ ------- ------ ------ ------ ------- INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR PLAN BENEFITS (357) 2,490 (249) 690 667 3,241 Net assets available for plan benefits at beginning of year 5,636 13,242 6,083 2,608 1,053 28,622 ------ ------- ------ ------ ------ ------- NET ASSETS AVAILABLE FOR PLAN BENEFITS AT END OF YEAR $5,279 $15,732 $5,834 $3,298 $1,720 $31,863 ====== ======= ====== ====== ====== =======
See Notes to Financial Statements. - 7 - PAGE 8 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS (Thousands of Dollars) NOTE 1. SIGNIFICANT ACCOUNTING POLICIES The accounting records of the American Commercial Lines, Inc. Thrift Plan (the "Plan") are maintained on the accrual basis. All security transactions are recorded as of the trade date. Investments in insurance company contracts are reported at contract value. Contract value represents contributions made under the contract, plus interest at the contract rate, less funds used to pay participant distributions. Investments in the Liberty National Bank Treasury Bill Index Account, a short- term investment vehicle, are valued at cost plus accrued income. Investments in United States Government Obligations, CSX Corporation common stock and mutual funds are valued at the last reported sales price on the last business day of the Plan year. Certain prior-year data have been reclassified to conform to the 1993 presentation. NOTE 2. DESCRIPTION OF THE PLAN On December 31, 1993, the Plan was merged into the Tax Savings Thrift Plan for Employees of CSX Corporation and Affiliated Companies (the "CSX Plan"). On that date, the then remaining net assets of the Plan were transferred to and became the assets and liabilities of the CSX Plan. Effective December 31, 1993, all participants of the Plan became participants of the CSX Plan with beginning participant account balances in the CSX Plan equal to their participant account balances in the Plan immediately prior to the merger. All obligations of the Plan for payment of benefits to Plan members (and beneficiaries thereof) ceased and became obligations of the CSX Plan at the merger date. With the exception of the tax treatment of participant contributions and the determination of employer matching contributions, the significant provisions of the CSX Plan are similar to those of the Plan. Participant contributions under the provisions of the CSX Plan may be made on a before or after-tax basis within the limits imposed by the Internal Revenue Code ("IRC") whereas all participant contributions to the Plan were made on an after-tax basis. In addition, while the participants of the Plan were entitled to a 75% employer matching contribution on the first 6% of participant contribution (the "matching percentage"), participants in the CSX Plan are entitled to a 50% matching percentage. In 1994, the matching percentage for CSX Plan participants employed by ACL and its subsidiaries will be 75%. In 1995 and thereafter, the matching percentage for all participants in the CSX Plan will be 50%. A complete description of the provisions of the Plan and the CSX Plan, including those relating to vesting, withdrawals and distributions is contained in the Summary Plan Descriptions and Plan Documents. Copies of these documents are available from the CSX Corporation Benefits Office. The following summary of the Plan should be read in conjunction with the aforementioned documents. - 8 - PAGE 9 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS--Continued (Thousands of Dollars) NOTE 2. DESCRIPTION OF THE PLAN, Continued General: The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Plan qualifies as a "cash or deferred" arrangement under Section 401(k) of the Internal Revenue Code of 1986, as amended ("IRC"). Plan participation is limited to certain salary paid employees of American Commercial Lines, Inc. and affiliated companies ("ACL", the "Company", or the "Employer"), a wholly- owned subsidiary of CSX Corporation ("CSX"). The total number of participants in the Plan as of December 31, 1993 and 1992 were 945 and 919, respectively. Investment Alternatives: Participant contributions may be invested in one or more of the following investment funds: (1) the United States Government Obligation Fund, consisting primarily of obligations issued or guaranteed by the United States of America or its agencies, (2) the CSX Common Stock Fund, consisting primarily of investments in CSX common stock, (3) the Protected Income Fund, consisting primarily of a guaranteed investment contract issued by Commonwealth Life Insurance Company, (4) the Diversified Equity Fund, consisting primarily of investments in the Fidelity Equity Income Fund and Mutual Service Fund, Inc. Qualified Income Fund, and (5) the Growth Equity Fund consisting primarily of investments in the Fidelity Magellan Fund, an aggressive common stock growth fund. Amounts allocated to any of these funds may be temporarily retained as cash or invested in cash equivalents to facilitate the investment or reinvestment of Plan assets and the distribution of account balances to participants. Employer contributions are made in the form of cash deposits to the CSX Common Stock Fund. Participant Contribution: Participants in the Plan are allowed to contribute from 1% to 15% of their annual compensation in 1% multiples to the Plan. All participant contributions are made on an after tax basis within the limits imposed by the IRC and may be invested in increments of 10% in any of the five investment alternatives. Investment direction may be revised by participants as often as four times per year. Employer Contributions: The Employer contributes to the Plan an amount equal to 75% of each participating employee's contributions up to a maximum of 6% of the participants salary. Vesting, Withdrawals, Distributions and Forfeitures: Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Participants are fully vested in Employer matching contributions after one of the following occurs: 1) Completion of 60 consecutive months of employment, 2) death or retirement, 3) total disability, or 4) termination of the Plan. If a participant withdraws from the Plan without being fully - 9 - PAGE 10 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS--Continued (Thousands of Dollars) NOTE 2. DESCRIPTION OF THE PLAN, Continued vested, the Employer's matching contributions and earnings thereon vest based on years of service as of the date of termination in accordance with the following schedule: Years of Service Vested Percentage ---------------- ----------------- Less than 2 years 0% 2 years but less than 3 25% 3 years but less than 4 50% 4 years but less than 5 75% 5 years or more 100% Withdrawals and distributions are controlled in accordance with the provisions of the Plan. Amounts not fully vested at the time of withdrawal are forfeited upon participant termination of employment; however, if an employee reactivates participation in the plan within a specified time period, the Employer contributions and income earned thereon are reinstated. These contingent reinstatement amounts were not significant at December 31, 1993 or 1992. Forfeitures in the amounts of $62 and $89 were used to offset Employer's contributions for the years ended December 31, 1993 and 1992, respectively. Related amounts of contributions receivable from the Employer at December 31, 1992 were reduced by unapplied forfeitures in the amount of $79. Participant Accounts: Each participant's account is credited with the participant's contributions, the appropriate portion of the Employer's contributions and an allocation of the Plan earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. Plan Termination: Although it has not expressed any intent to do so, the Employer has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their accounts. NOTE 3. INVESTMENTS The Plan's investments are held by a bank administered trust fund. These investments are more fully described below: United States Government Obligation Fund: Substantially all of the assets held in the United Stated Government Obligation Fund are invested in U.S. Treasury Notes and Government National Mortgage Association Notes. - 10 - PAGE 11 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS--Continued (Thousands of Dollars) NOTE 3. INVESTMENTS, Continued CSX Stock Fund: Substantially all of the assets held in this fund are invested in CSX common stock. Protected Income Fund: Substantially all of the assets held in this fund are invested in a guaranteed investment contract issued by Commonwealth Life Insurance Company. Diversified Equity Fund: Substantially all of the assets held in the Diversified Equity Fund are invested in either the Fidelity Equity Income Fund, a mutual fund managed by Fidelity Management and Research Company, or the Mutual Service Fund, Inc. Qualified Income Fund, a mutual fund managed by Mutual Shares, Inc. Growth Equity Fund: Substantially all of the assets held in the Growth Equity Fund are invested in the Fidelity Magellan Fund, an aggressive growth fund managed by Fidelity Management and Research Company. NOTE 4. FEDERAL INCOME TAXES The Plan qualifies under Section 401(a) of the IRC and is therefore exempt from taxation under IRC Section 501(a). Once qualified, the Plan is required to operate in conformity within the IRC to maintain its qualification. The Plan Administrator is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. Participants are not taxed on contributions by the Employer or on investment earnings on Employer or participant contributions until such amounts are withdrawn. Amounts contributed to the Plan by participants have been made subject to federal income taxation prior to such contributions and are not subject to federal income taxation when withdrawn. In general, funds removed from the Plan in excess of employee contributions are taxable income to the participants. A 10% additional income tax is imposed on the taxable income of withdrawals prior to age 59 1/2 unless certain exceptions are met, the most relevant of which are withdrawals made on account of the employee's death, disability, or for deductible medical expenses. Where withdrawals include securities, any unrealized gain on those securities, which is attributable to the employee's contributions for a separating employee, will normally not be taxable until a taxable disposition thereof is made. - 11 - PAGE 12 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS-- Continued (Thousands of Dollars) NOTE 5. RELATED PARTY TRANSACTIONS Fees for administration, investment advice and other services are principally paid by the Employers. The Plan is not charged for administrative services performed on its behalf by the Employers. The Employers paid approximately $10 and $61, respectively, to the Trustee and to the Plan Administrator during 1993 and $13 and $64, respectively, to the Trustee and to the Plan Administrator during 1992 for administrative expenses of the Plan. During the years ended December 31, 1993 and 1992, the Plan received $355 and $337, respectively, representing cash dividends from CSX Corporation common stock. The trustee routinely invests Plan assets in the Liberty National Bank Treasury Bill Index Account. For the year ended December 31, 1993, transactions involving this account included 265 purchases with a total cost of $7,501 and 61 sales with a fair value and cost of $7,789. During the year ended December 31, 1992 transactions involving this account included 231 purchases with a total cost of $7,289 and 65 sales with a fair value and cost of $6,830. NOTE 6. TRANSFERS TO THE PLAN During 1992, certain employees participating in the American Commercial Vessel and Terminal Employees' Savings Plan were transferred from an hourly-paid status to salaried status, thus allowing them to participate in the American Commercial Lines, Inc. Thrift Plan. Participant account balances in the amount of $227 were transferred to the Plan and are included in other receipts in the 1992 Statement of Changes in Net Assets Available for Plan Benefits. NOTE 7. COMPARISON TO FORM 5500 Form 5500 requires the recording of a liability for amounts allocated to the accounts of participants who have withdrawn from the Plan. This requirement conflicts with generally accepted accounting principles and the presentation of such amounts in the financial statements where they remain Net Assets Available for Plan Benefits until paid. - 12 - PAGE 13 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN NOTES TO FINANCIAL STATEMENTS--Continued (Thousands of Dollars) NOTE 7. COMPARISON TO FORM 5500, Continued The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500: December 31 1993 1992 ----------------- Net assets available for plan benefits per the financial statements $ - $31,863 Amounts allocated to withdrawn participants - (914) ------ ------- Net assets available for plan benefits, per the Form 5500 $ - $30,949 ====== ======= The following is a reconciliation of distributions to participants per the financial statements to the Form 5500: Year Ended December 31, 1993 ----------------- Distributions to Participants per the financial statements $4,792 Add: Amounts allocated to withdrawn participants at December 31, 1993 - Less: Amounts allocated to withdrawn participants at December 31, 1992 (914) ----------------- Distributions to Participants per the Form 5500 $3,878 ================= - 13 - PAGE 14 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN (Thousands of Dollars) SUPPLEMENTAL SCHEDULE - 14 - PAGE 15 AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN TRANSACTIONS OR SERIES OF TRANSACTIONS IN EXCESS OF 5% OF THE FAIR VALUE OF PLAN ASSETS YEAR ENDED DECEMBER 31, 1993 (Dollars in Thousands) Line 30(d)--Form 5500 SCHEDULE I Purchases Sales ------------ ----------------------------------- Value of Cost Net Assets Sold on of Gain Description of Asset Number Cost Number Transaction Date Asset (Loss) - - -------------------- ------ ---- ------ ---------------- ----- ------ Category (i) - individual transactions in excess of 5% of Plan assets - - --------------------------------------------------------------------- Fidelity Equity Income Fund 1 $2,368 $1,881 $487 Mutual Service Qualified Income Fund 1 1,667 1,417 250 Fidelity Magellan Fund 1 2,425 2,243 182 Category (iii) - series of transactions in excess of 5% of plan assets - - ---------------------------------------------------------------------- Liberty National Bank Treasury Bill Index Account 265 $7,501 61 $7,789 $7,789 $--- U.S. Government Treasury Notes dated 2/1/93, 5.625%, mature 1/31/98 3 1,014 1 1,023 1,014 9 CSX Corporation Common Stock 4 949 5 1,467 607 860 Fidelity Equity Income Fund 5 254 1 2,368 1,881 487 Mutual Service Qualified Income Fund 10 344 1 1,667 1,417 250 Fidelity Magellan Fund 10 984 4 2,475 2,289 186 There were no category (ii), or (iv) reportable transactions during the year ended December 31, 1993. - 15 - PAGE 16 SIGNATURE --------- 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. AMERICAN COMMERCIAL LINES, INC. THRIFT PLAN By: /s/ GREGORY R. WEBER ------------------------------------------- Gregory R. Weber (Attorney-in-Fact) Date: June 29, 1994 - 16 - EX-99 2 EXHIBIT INDEX PAGE 1 EXHIBIT INDEX Description Value ----------- ----- Consent of Independent Auditors EX-23 Power of Attorney EX-24 - 1 - EX-23 3 CONSENT OF INDEPENDENT AUDITORS PAGE 1 EX-23 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statements (Forms S-8 No. 33-27338 and 33-33853) pertaining to the American Commercial Lines, Inc. Thrift Plan of our report dated June 17, 1994, with respect to the financial statements and schedule of the American Commercial Lines, Inc. Thrift Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1993. /s/ ERNST & YOUNG Richmond, Virginia ----------------- June 27, 1994 Ernst & Young - 1 - EX-24 4 POWER OF ATTORNEY PAGE 1 EX-24 POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS that each of the undersigned members of the committee of the American Commercial Lines, Inc. Thrift Plan, which is to file with the Securities and Exchange Commission, Washington, D.C., a Form 11-K (Annual Report) under the Securities Exchange Act of 1934, hereby constitutes and appoints Gregory R. Weber his true and lawful attorney-in-fact and agent, for him and in his name, place and stead to sign said Form 11-K, and any and all amendments thereto, with power where appropriate to file said Form 11-K, and any and all other documents in connection therewith, with the Securities and Exchange Commission, hereby granting unto said attorney-in-fact and agent full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or either of them, may lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, the undersigned have hereunto set their hands this 17th day of June, 1994. /s/ F. J. HAENDIGES - - --------------------------- F. J. Haendiges /s/ E. W. HERDE - - --------------------------- E. W. Herde /s/ L. J. WEAS - - --------------------------- L. J. Weas /s/ J. J. WOLFF - - --------------------------- J. J. Wolff - 1 - -----END PRIVACY-ENHANCED MESSAGE-----