-----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, FRNPEfUagdqSpJo/27BEU3V+22JhGodZvS3itqYaEU9bX1YShxPP1pM4XZrgdYXs XKjZHWZXlcNi+W199Ou09Q== 0000950152-95-001389.txt : 199506290000950152-95-001389.hdr.sgml : 19950629 ACCESSION NUMBER: 0000950152-95-001389 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950628 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROADWAY SERVICES INC CENTRAL INDEX KEY: 0000701708 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 341365496 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10716 FILM NUMBER: 95549901 BUSINESS ADDRESS: STREET 1: 1077 GORGE BLVD STREET 2: P O BOX 88 CITY: AKRON STATE: OH ZIP: 44309 BUSINESS PHONE: 2163848184 11-K 1 ROADWAY 11-K 1 FORM 11-K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (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, 1994 -------------------------------------------- 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 0-10716 -------------------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: VIKING FINANCIAL SECURITY PLAN 411 E. Plumeria Dr. San Jose, CA 95134 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive offices: ROADWAY SERVICES, INC. 1077 Gorge Boulevard P.O. Box 88 Akron, Ohio 44309-0088 2 REQUIRED INFORMATION The following financial statements are furnished for the plan: Audited Financial Statements and Supplemental Schedules of the Viking Financial Security Plan for the years ended December 31, 1994 and 1993. The foregoing plan financial statements were prepared in accordance with the financial reporting requirements of ERISA and were audited by independent auditors. EXHIBITS Consent of independent auditors. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Chairman of the Administrative Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. VIKING FINANCIAL SECURITY PLAN T. L. STAMBAUGH ------------------------------ T. L. Stambaugh, Senior Vice President - Human Resources of Viking Freight System, Inc. and Chairman of the Administrative Committee June 27, 1995 3 Financial Statements and Supplemental Schedules Viking Financial Security Plan Years ended December 31, 1994 and 1993 with Report of Independent Auditors 4 Viking Financial Security Plan Financial Statements and Supplemental Schedules Years ended December 31, 1994 and 1993
CONTENTS Report of Independent Auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Audited Financial Statements Statements of Net Assets Available for Benefits, With Fund Information . . . . . . . . . . . . . . . 2 Statements of Changes in Net Assets Available for Benefits, With Fund Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Supplemental Schedules Schedule of Assets Held for Investment Purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Schedule of Reportable Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
5 Report of Independent Auditors To the Administrative Committee Viking Financial Security Plan We have audited the accompanying statements of net assets available for benefits of the Viking Financial Security Plan as of December 31, 1994 and 1993, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. 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 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 benefits of the Plan at December 31, 1994 and 1993, and the changes in its net assets available for benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes as of December 31, 1994, and reportable transactions for the year then ended, are 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 are not a required part of the financial statements. The Fund Information in the statements of net assets available for benefits and the statements of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. The supplemental schedules and Fund Information have been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. ERNST & YOUNG LLP June 13, 1995 1 6 Viking Financial Security Plan Statements of Net Assets Available for Benefits, With Fund Information December 31, 1994
FUND INFORMATION ------------------------------------------------------------------- VIKING COMPANY FIXED ASSET INCOME S&P 500 STOCK INCOME ALLOCATION ACCUMULATION STOCK FUND FUND FUND FUND FUND ------------------------------------------------------------------- ASSETS Cash and temporary cash $ 125,930 investments Investments, at fair value: Roadway Services, Inc. Common Stock 8,958,215 Shares of registered investment companies: Collective investment funds $15,842,787 $15,454,064 $13,076,958 Guaranteed investment contracts: Nonrestricted 1,151,758 Restricted $3,828,031 ------------------------------------------------------------------- 9,084,145 3,828,031 15,842,787 16,605,822 13,076,958 Receivables: Employer's contribution 568,487 768,093 874,366 671,617 Participants' contributions 25,101 31,990 40,066 29,538 Other 57,402 446,328 Loans ------------------------------------------------------------------- Total receivables 650,990 446,328 800,083 914,432 701,155 ------------------------------------------------------------------- Total assets 9,735,135 4,274,359 16,642,870 17,520,254 13,778,113 ------------------------------------------------------------------- LIABILITIES Accrued expenses and other 2,785 36,798 6,074 ------------------------------------------------------------------- Net assets available for benefits $9,732,350 $4,237,561 $16,642,870 $17,514,180 $13,778,113 =================================================================== FUND INFORMATION -------------------------------------------------------------------- AIM TEMPLETON STAGECOACH EMPLOYEE CONSTELLATION FOREIGN LIFEPATH LOAN FUND FUND FUNDS ACCOUNT TOTAL -------------------------------------------------------------------- ASSETS Cash and temporary cash investments $ 125,930 Investments, at fair value: Roadway Services, Inc. Common Stock 8,958,215 Shares of registered investment companies: Collective investment funds $ 288,350 $ 316,865 $ 418,874 45,397,898 Guaranteed investment contracts: Nonrestricted 1,151,758 Restricted 3,828,031 --------------------------------------- ----------- 288,350 316,865 418,874 59,461,832 Receivables: Employer's contribution 39,514 40,269 67,255 3,029,601 Participants' contributions 1,959 2,004 3,161 133,819 Other 503,730 Loans $5,755,441 5,755,441 -------------------------------------------------------------------- Total receivables 41,473 42,273 70,416 5,755,441 9,422,591 -------------------------------------------------------------------- Total assets 329,823 359,138 489,290 5,755,441 68,884,423 -------------------------------------------------------------------- LIABILITIES Accrued expenses and other 45,657 -------------------------------------------------------------------- Net assets available for benefits $ 329,823 $359,138 $489,290 $5,755,441 $68,838,766 ==================================================================== See accompanying notes.
2 7 Viking Financial Security Plan Statements of Net Assets Available for Benefits, With Fund Information (continued) December 31, 1993
FUND INFORMATION --------------------------------------------------------------------------- VIKING COMPANY FIXED ASSET INCOME S&P 500 STOCK INCOME ALLOCATION ACCUMULATION STOCK FUND FUND FUND FUND FUND --------------------------------------------------------------------------- ASSETS Cash and temporary cash investments $ 133,650 $ 14,719 $ 938 Investments, at fair value: Roadway Services, Inc. Common Stock 7,478,040 Shares of registered investment companies: Collective investment funds $15,911,505 11,639,788 $11,241,893 Guaranteed investment contracts: Nonrestricted 1,062,116 Restricted 3,883,635 --------------------------------------------------------------------------- 7,611,690 3,898,354 15,911,505 12,702,842 11,241,893 Receivables: Employer's contribution 456,877 774,093 733,961 578,350 Participants' contributions 20,558 29,870 25,634 25,360 Interest 3,877 36 Loans --------------------------------------------------------------------------- Total receivables 481,312 36 803,963 759,595 603,710 --------------------------------------------------------------------------- Total assets 8,093,002 3,898,390 16,715,468 13,462,437 11,845,603 --------------------------------------------------------------------------- LIABILITIES Accrued expenses and other 2,656 33,411 938 --------------------------------------------------------------------------- Net assets available for benefits $8,090,346 $3,864,979 $16,715,468 $13,461,499 $11,845,603 =========================================================================== FUND INFORMATION ------------------------- EMPLOYEE LOAN ACCOUNT TOTAL ------------------------- ASSETS Cash and temporary cash investments $ 149,307 Investments, at fair value: Roadway Services, Inc. Common Stock 7,478,040 Shares of registered investment companies: Collective investment funds 38,793,186 Guaranteed investment contracts: Nonrestricted 1,062,116 Restricted 3,883,635 ------------ 51,366,284 Receivables: Employer's contribution 2,543,281 Participants' contributions 101,422 Interest 3,913 Loans $4,661,737 4,661,737 ------------------------- Total receivables 4,661,737 7,310,353 ------------------------- Total assets 4,661,737 58,676,637 ------------------------- LIABILITIES Accrued expenses and other 37,005 ------------------------- Net assets available for benefits $4,661,737 $58,639,632 ========================= See accompanying notes.
3 8 Viking Financial Security Plan Statements of Changes in Net Assets Available for Benefits, With Fund Information Year ended December 31, 1994
FUND INFORMATION -------------------------------------------------------------------------------------- VIKING COMPANY FIXED ASSET INCOME S&P 500 AIM STOCK INCOME ALLOCATION ACCUMULATION STOCK CONSTELLATION FUND FUND FUND FUND FUND FUND -------------------------------------------------------------------------------------- Additions to net assets attributed to: Investment income (loss): Net appreciation (depreciation) in fair value of investments $ (675,370) $(1,301,602) $ (165,686) $ (348,875) $ 5,812 Interest 5,489 $ 446,328 799,139 Dividends 157,361 875,198 427,160 2,196 -------------------------------------------------------------------------------------- (512,520) 446,328 (426,404) 633,453 78,285 8,008 Contributions: Participants 1,541,579 2,411,023 2,563,674 2,014,172 4,629 Employers 568,487 768,093 874,366 671,617 39,514 -------------------------------------------------------------------------------------- 2,110,066 3,179,116 3,438,040 2,685,789 44,143 -------------------------------------------------------------------------------------- Total additions 1,597,546 446,328 2,752,712 4,071,493 2,764,074 52,151 -------------------------------------------------------------------------------------- Deductions from net assets attributed to: Benefits paid to participants 290,773 509,872 661,511 350,309 Expenses 5,535 8,467 8,558 6,264 -------------------------------------------------------------------------------------- Total deductions 296,308 518,339 670,069 356,573 -------------------------------------------------------------------------------------- Net increase prior to interfund transfers 1,301,238 446,328 2,234,373 3,401,424 2,407,501 52,151 Interfund transfers (net) 340,766 (73,746) (2,306,971) 651,257 (474,991) 277,672 -------------------------------------------------------------------------------------- Net increase (decrease) in net assets 1,642,004 372,582 (72,598) 4,052,681 1,932,510 329,823 Net assets available for benefits Beginning of year 8,090,346 3,864,979 16,715,468 13,461,499 11,845,603 -------------------------------------------------------------------------------------- End of year $9,732,350 $4,237,561 $16,642,870 $17,514,180 $13,778,113 $329,823 ====================================================================================== ---------------------------------------------------------- TEMPLETON STAGECOACH EMPLOYEE FOREIGN LIFEPATH SWEEP LOAN FUND FUNDS ACCOUNT ACCOUNT TOTAL --------------------------------------------------------------------- Additions to net assets attributed to: Investment income (loss): Net appreciation (depreciation) in fair value of investments $ (2,610) $ (293) $(2,488,624) Interest $112 $439,820 1,690,888 Dividends 2,189 3,688 1,467,792 --------------------------------------------------------------------- (421) 3,395 112 439,820 670,056 Contributions: Participants 5,641 8,409 8,549,127 Employers 40,269 67,255 3,029,601 --------------------------------------------------------------------- 45,910 75,664 11,578,728 --------------------------------------------------------------------- Total additions 45,489 79,059 112 439,820 12,248,784 --------------------------------------------------------------------- Deductions from net assets attributed to: Benefits paid to participants 4,589 183,273 2,000,327 Expenses 4 20,495 49,323 --------------------------------------------------------------------- Total deductions 4 25,084 183,273 2,049,650 --------------------------------------------------------------------- Net increase prior to interfund transfers 45,489 79,055 (24,972) 256,547 10,199,134 Interfund transfers (net) 313,649 410,235 24,972 837,157 --------------------------------------------------------------------- Net increase (decrease) in net assets 359,138 489,290 1,093,704 10,199,134 Net assets available for benefits Beginning of year 4,661,737 58,639,632 --------------------------------------------------------------------- End of year $359,138 $489,290 $ - $5,755,441 $68,838,766 ===================================================================== See accompanying notes.
4 9 Viking Financial Security Plan Statements of Changes in Net Assets Available for Benefits, With Fund Information (continued) Year ended December 31, 1993
FUND INFORMATION -------------------------------------------------------------------- VIKING COMPANY FIXED ASSET INCOME S&P 500 STOCK INCOME ALLOCATION ACCUMULATION STOCK FUND FUND FUND FUND FUND -------------------------------------------------------------------- Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ (822,785) $ 1,495,108 $ (1,015) $ 764,760 Interest 2,762 $ 161,002 699,375 Dividends 126,673 406,463 134,551 -------------------------------------------------------------------- (693,350) 161,002 1,901,571 698,360 899,311 Contributions: Plan participants 1,310,668 2,107,449 2,162,458 1,540,766 Employers 456,877 774,093 733,704 578,338 -------------------------------------------------------------------- 1,767,545 2,881,542 2,896,162 2,119,104 -------------------------------------------------------------------- Total additions 1,074,195 161,002 4,783,113 3,594,522 3,018,415 -------------------------------------------------------------------- Deductions from net assets attributed to: Benefits paid to participants 299,120 518,763 818,659 433,146 Expenses 7,026 12,006 11,171 8,495 -------------------------------------------------------------------- Total deductions 306,146 530,769 829,830 441,641 -------------------------------------------------------------------- Net increase prior to interfund transfers 768,049 161,002 4,252,344 2,764,692 2,576,774 Interfund transfers (net) (276,360) (132,925) 90,843 (598,157) 62,085 -------------------------------------------------------------------- Net increase in net assets 491,689 28,077 4,343,187 2,166,535 2,638,859 Net assets available for benefits Beginning of year 7,598,657 3,836,902 12,372,281 11,294,964 9,206,744 -------------------------------------------------------------------- End of year $8,090,346 $3,864,979 $16,715,468 $13,461,499 $11,845,603 ==================================================================== --------------------------------------------- EMPLOYEE SWEEP LOAN ACCOUNT ACCOUNT TOTAL --------------------------------------------- Additions to net assets attributed to: Investment income: Net appreciation (depreciation) in fair value of investments $ 1,436,068 Interest $ 18 $ 382,862 1,246,019 Dividends 667,687 --------------------------------------------- 18 382,862 3,349,774 Contributions: Plan participants 7,121,341 Employers 2,543,012 --------------------------------------------- 9,664,353 --------------------------------------------- Total additions 18 382,862 13,014,127 --------------------------------------------- Deductions from net assets attributed to: Benefits paid to participants 5,506 221,679 2,296,873 Expenses 74 38,772 --------------------------------------------- Total deductions 5,580 221,679 2,335,645 --------------------------------------------- Net increase prior to interfund transfers (5,562) 161,183 10,678,482 Interfund transfers (net) 5,562 848,952 --------------------------------------------- Net increase in net assets 1,010,135 10,678,482 Net assets available for benefits Beginning of year 3,651,602 47,961,150 --------------------------------------------- End of year $ - $ 4,661,737 $58,639,632 ============================================= See accompanying notes.
5 10 Viking Financial Security Plan Notes to Financial Statements December 31, 1994 NOTE A-DESCRIPTION OF THE PLAN The following description of the Viking Financial Security Plan ("Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. GENERAL The Plan is a defined contribution plan covering eligible employees of Viking Freight System, Inc. and any subsidiary or related company that adopts the Plan (the "Employers"). Employees are eligible to become active members of the Plan upon reaching the age of twenty-one, completing 12 months of service, and working at least 1,000 hours during that period. CONTRIBUTIONS Participants may make before tax contributions from 1% to 15% of their total pay subject to Internal Revenue Service limitations. The Employers match 50% of the employees' contributions up to a maximum of 3% of the employees' salaries. The Employers' matching contributions are invested in the Plan's investment options based on elections by participants. Employees select how to invest their contributions in increments of 1% among the investment funds listed below. Contributions to the Plan are deposited in a trust fund maintained by Wells Fargo Bank N.A., trustee of the Plan. PARTICIPANT ACCOUNTS Each participant's account is credited with the participant's contributions and an allocation of the Company's matching contribution. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. VESTING Employee contributions, their employer's matching contributions and any investment earnings are 100% vested and are nonforfeitable. INVESTMENT OPTIONS The assets of the Plan are invested primarily in the following investment funds: COMPANY STOCK FUND - The assets of this fund are invested in common stock of Roadway Services, Inc. These investments are valued based upon the closing quoted market price on the last business day of the plan year. 6 11 Viking Financial Security Plan Notes to Financial Statements (continued) NOTE A-DESCRIPTION OF THE PLAN (CONTINUED) INVESTMENT OPTIONS (CONTINUED) FIXED INCOME FUND - The assets of this fund are invested in a guaranteed investment contract with Mutual Benefit Life. Since July 16, 1991, assets invested in the Mutual Benefit Life Guaranteed Investment Contract have been restricted (see Note E). In February 1992, all unrestricted assets of this fund were transferred to the Viking Income Accumulation Fund. ASSET ALLOCATION FUND - The assets of this fund are invested in the Stagecoach, Inc. Asset Allocation Fund. The investments of the fund are allocated among three investment types: common stock, U. S. Treasury bonds, and money market instruments. The fair value of the units owned by the Plan are based upon quoted redemption values on the last business day of the plan year. VIKING INCOME ACCUMULATION FUND - The assets of this fund are invested in a mix of fixed-rate and variable-rate investments. The assets consist of a guaranteed investment contract with New York Life Insurance and an investment in the Wells Fargo Income Accumulation Fund. The guaranteed investment contract earns a guaranteed rate of return, and the withdrawal of funds is restricted as specified in the contract. The Wells Fargo Income Accumulation Fund is part of the Wells Fargo Institutional Trust Company Collective Trust Funds and invests in guaranteed investment contracts, bank investment contracts, U. S. government securities and short-term money market instruments. The fair value of the units owned by the Plan is based upon quoted redemption values on the last business day of the plan year. S&P 500 STOCK FUND - The assets of this fund are invested in the Stagecoach, Inc. S&P 500 Stock Fund. This equity fund invests daily in the same stocks and substantially the same percentages as the S&P 500 Index. The fair value of the units owned by the Plan are based upon quoted redemption values on the last business day of the plan year. AIM CONSTELLATION FUND - The assets of this fund are invested in the AIM Constellation Fund. This equity fund seeks capital appreciation by investing in the common stock of principally medium-sized and smaller emerging growth companies. The fair value of the units owned by the Plan is based upon the quoted redemption value on the last business day of the plan year. TEMPLETON FOREIGN FUND - The assets of this fund are invested in the Templeton Foreign Fund. This fund seeks long-term capital growth by investing in stock and debt obligations of companies and governments outside the United States. The fair value of the units owned by the Plan is based upon the quoted redemption value on the last day of the plan year. 7 12 Viking Financial Security Plan Notes to Financial Statements (continued) NOTE A-DESCRIPTION OF THE PLAN (CONTINUED) INVESTMENT OPTIONS (CONTINUED) STAGECOACH LIFEPATH FUNDS - The assets of this fund are invested in the LifePath Funds offered by Stagecoach Trust. These Funds invest their assets in a separate series of Master Investment Portfolio, an open-end management investment company including: LifePath 2000, LifePath 2010, LifePath 2020, LifePath 2030 and LifePath 2040. The investment strategy of each fund is to invest in a combination of domestic and foreign equity, fixed income and other securities to provide a risk-managed rate of return to maximize assets for retirement based on planned retirement in the decade indicated in the fund name. The fair value of the units owned by the Plan is based upon the quoted redemption value on the last day of the plan year. SWEEP ACCOUNT - Any contributions, distributions, purchases or sales of fund assets are transacted in the Sweep Account. The Sweep Account is a short-term money market account. EMPLOYEE LOAN ACCOUNT - This account includes all loans made to participants. Participants pay interest on the loans at rates between 8% and 13-1/2%. NOTE B-SUMMARY OF ACCOUNTING POLICIES INVESTMENT VALUATION AND INCOME RECOGNITION The Plan's investments are stated at fair value. Security transactions are recorded on a trade date basis. Loans receivable from participants are valued at cost which approximates fair value. Substantially all administrative fees are paid by Viking Freight System, Inc. NOTE C-PLAN TERMINATION Although it has not expressed any intent to do so, the Employers have the right under the Plan to discontinue contributions at any time and to terminate the Plan subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Upon termination, participants are entitled to receive the value of their accounts. NOTE D-INCOME TAX STATUS The Internal Revenue Service ruled on February 22, 1991 that the Plan qualifies under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the related trust is not subject to tax under present income tax law. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan's Administrative Committee is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. 8 13 Viking Financial Security Plan Notes to Financial Statements (continued) NOTE E-MUTUAL BENEFIT LIFE GUARANTEED INVESTMENT CONTRACT During 1991, the State of New Jersey insurance regulators took control of Mutual Benefit Life and froze all existing assets of the company. As a result of these events, the future recoverability of the Plan's assets held by Mutual Benefit Life is uncertain. Due to the restricted status of the Mutual Benefit Life Guaranteed Investment Contract, Viking Freight System, Inc., has committed to protect plan participants from any loss of principal (participant contributions and the Employers' match) as well as any credited interest upon maturity of the contract. 9 14 Viking Financial Security Plan Schedule of Assets Held for Investment Purposes December 31, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, COLLATERAL, CURRENT LESSOR OR SIMILAR PARTY PAR OR MATURITY VALUE COST VALUE - ------------------------------------------------------------------------------------------------------------------- Roadway Services, Inc.* 157,854 shares of common $ 8,897,972 $ 8,958,215 stock Stagecoach, Inc.* Asset Allocation 1,674,713 units of collective 16,722,790 15,842,787 Fund investment fund Wells Fargo Bank, N.A.* Wells Fargo 1,326,529 units of collective 15,604,525 15,454,064 Income Accumulation Fund investment fund Stagecoach, Inc.* 1,285,836 units of collective 13,022,588 13,076,958 S&P 500 Stock Fund equity investment fund New York Life Insurance Company Fixed income investment 1,151,758 1,151,758 Guaranteed investment contract contract Mutual Benefit Life Insurance Fixed income investment 3,828,031 3,828,031 Company** Guaranteed investment contract contract Wells Fargo Bank, N.A.:* Short-term investment 125,930 125,930 fund AIM Constellation Fund 16,774 units of collective 282,612 288,350 investment fund Templeton Foreign Fund 35,926 units of collective 319,475 316,865 investment fund Stagecoach Lifepath Funds: Collective investment funds: LifePath 2000 Fund 3,325 units 32,143 31,722 LifePath 2010 Fund 12,115 units 116,630 115,460 LifePath 2020 Fund 17,487 units 167,742 168,224 LifePath 2030 Fund 5,069 units 48,819 48,713 LifePath 2040 Fund 5,599 units 53,833 54,755 ------------- ------------ 60,374,848 59,461,832 Loans receivable Maturing at various dates through 2004 at interest rates ranging from 8% to 13-1/2% 5,755,441 5,755,441 ------------- ------------ $66,130,289 $65,217,273 ============= ============ * A party-in-interest as defined by ERISA ** As described in Note E of Notes to Financial Statements, the assets of Mutual Benefit Life were frozen by state insurance regulators.
10 15 Viking Financial Security Plan Schedule of Reportable Transactions Year ended December 31, 1994
CURRENT VALUE OF IDENTITY OF ASSET ON PARTY PURCHASE SELLING COST OF TRANSACTION NET GAIN INVOLVED DESCRIPTION OF ASSETS PRICE PRICE ASSET DATE OR (LOSS) ----------------------------------------------------------------------------------------------------------------- Category (i)-Individual Transactions in Excess of 5% of the Current Value of Plan Assets ** Wells Fargo Bank, N.A.*: Money Market Fund $3,369,969 $3,369,969 $3,369,969 collective investment fund $3,369,969 3,369,969 3,369,969 ** Wells Fargo Bank, N.A.*: Income Accumulation Fund collective investment fund 3,355,296 3,355,296 3,355,296 Category (iii)--Series of Transactions in Excess of 5% of the Current Value of Plan Assets ** Wells Fargo Bank, N.A.*: Stagecoach, Inc. Asset 4,383,864 4,383,864 4,383,864 Allocation Fund ** Wells Fargo Bank, N.A.*: Stagecoach, Inc. Asset 3,150,980 3,218,345 3,150,980 (67,365) Allocation Fund ** Wells Fargo Bank, N.A.*: 4,272,309 4,272,309 4,272,309 Stagecoach S&P 500 Fund 2,088,369 2,062,845 2,088,369 25,524 ** Wells Fargo Bank, N.A.*: Money Market Fund 8,316,508 8,316,508 8,316,508 8,316,508 ** Wells Fargo Bank, N.A.*: 5,149,115 5,149,115 5,149,115 Income Accumulation Fund 1,881,461 1,896,686 1,881,461 (15,225) * A party-in-interest as defined by ERISA. ** Transactions made on the market. There were no category (ii) or (iv) reportable transactions during 1994.
11 EX-23 2 ROADWAY 11-K EXHIBIT 23 1 Exhibit 23 [Ernst & Young Letterhead] Consent of Independent Auditors We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-28546) pertaining to the Viking Financial Security Plan of our report dated June 13, 1995, with respect to the financial statements and supplemental schedules of the Viking Financial Security Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1994. ERNST & YOUNG LLP June 26, 1995 -----END PRIVACY-ENHANCED MESSAGE-----