-----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, r2BRl1nz4K5/GqeT2Mp3L05T1gSu26sFty3FgMMLK3CXzJfvxY+xxCxdfy5fvQvY g9Rbp+ZxgRNotKuMvOX41g== 0000950152-94-000675.txt : 19940706 0000950152-94-000675.hdr.sgml : 19940706 ACCESSION NUMBER: 0000950152-94-000675 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROADWAY SERVICES INC CENTRAL INDEX KEY: 0000701708 STANDARD INDUSTRIAL CLASSIFICATION: 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: 94537006 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 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 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 ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 1993 VIKING FINANCIAL SECURITY PLAN (Full title of the plan) 411 E. Plumeria Dr. San Jose, CA 95134 (Full address of the plan) ROADWAY SERVICES, INC. ------------------------------------------------------------ (Name of issuer of the securities held pursuant to the plan) 1077 Gorge Boulevard P.O. Box 88 Akron, Ohio 44309-0088 (Address of principal executive office) 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, 1993 and 1992. 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 /S/ T. L. STAMBAUGH --------------------------------------- T. L. STAMBAUGH T. L. Stambaugh, Senior Vice President - Human Resources of Viking Freight System, Inc. and Chairman of the Administrative Committee June 27, 1994 3 Financial Statements and Supplemental Schedules Viking Financial Security Plan YEARS ENDED DECEMBER 31, 1993 AND 1992 WITH REPORT OF INDEPENDENT AUDITORS 4 Viking Financial Security Plan Financial Statements and Supplemental Schedules Years ended December 31, 1993 and 1992
CONTENTS Report of Independent Auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Audited Financial Statements Statements of Net Assets Available for Plan Benefits . . . . . . . . . . . . . . . . . . . . . . . 2 Statements of Changes in Net Assets Available for Plan Benefits . . . . . . . . . . . . . . . . . . 4 Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Supplemental Schedules Form 5500 Item 27a - Schedule of Assets Held for Investment Purposes . . . . . . . . . . . . . . 12 Form 5500 Item 27d - Schedules of Reportable Transactions: Category (i)--Individual Transactions in Excess of 5% of the Current Value of Plan Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Category (iii)--Series of Transactions in Excess of 5% of the Current Value of Plan Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
5 [Ernst & Young Letterhead] Report of Independent Auditors The Administrative Committee Viking Financial Security Plan We have audited the accompanying statements of net assets available for plan benefits of the Viking Financial Security 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 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 audits 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, information regarding the net assets available for plan benefits of the Plan at December 31, 1993 and 1992, and the changes therein 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 financial statements taken as a whole. The accompanying supplemental schedules listed in the table of contents 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 supplemental schedules have been subjected to the auditing procedures applied in our audit of the 1993 financial statements and, in our opinion, are fairly stated in all material respects in relation to the 1993 financial statements taken as a whole. ERNST & YOUNG April 28, 1994 6 Viking Financial Security Plan Statements of Net Assets Available for Plan Benefits December 31, 1993
VIKING COMPANY FIXED ASSET INCOME S&P 500 EMPLOYEE STOCK INCOME ALLOCATION ACCUMULATION STOCK LOAN FUND FUND FUND FUND FUND ACCOUNT TOTAL --------------------------------------------------------------------------------------------------- ASSETS Cash and temporary cash investments $ 133,650 $ 14,719 $ - $ 938 $ - $ - $ 149,307 Contributions receivable: Employee 20,558 - 29,870 25,634 25,360 - 101,422 Employer 456,877 - 774,093 733,961 578,350 - 2,543,281 Interest receivable 3,877 36 - - - - 3,913 Loans receivable - - - - - 4,661,737 4,661,737 Investments, at fair value: Company Stock Fund (Common Stock of Roadway Services, Inc.) 7,478,040 - - - - - 7,478,040 Collective investment funds - - 15,911,505 11,639,788 11,241,893 - 38,793,186 Guaranteed investment contracts: Nonrestricted - - - 1,062,116 - - 1,062,116 Restricted - 3,883,635 - - - - 3,883,635 ------------------------------------------------------------------------------------------------- 8,093,002 3,898,390 16,715,468 13,462,437 11,845,603 4,661,737 58,676,637 LIABILITIES Expenses payable 2,656 33,411 - 938 - - 37,005 ------------------------------------------------------------------------------------------------- 2,656 33,411 - 938 - - 37,005 ------------------------------------------------------------------------------------------------- Net assets available for plan benefits $8,090,346 $3,864,979 $16,715,468 $13,461,499 $11,845,603 $4,661,737 $58,639,632 ==================================================================================================== SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
2 7 Viking Financial Security Plan Statements of Net Assets Available for Plan Benefits December 31, 1992
VIKING COMPANY FIXED ASSET INCOME S&P 500 EMPLOYEE STOCK INCOME ALLOCATION ACCUMULATION STOCK LOAN FUND FUND FUND FUND FUND ACCOUNT TOTAL --------------------------------------------------------------------------------------------------- ASSETS Cash and temporary cash investments $ 70,673 $ - $ - $ - $ - $ 11,731 $ 82,404 Contributions receivable: Employee 50,822 - 88,005 86,082 65,430 - 290,339 Employer 427,409 - 705,223 684,719 478,135 - 2,295,486 Interest receivable 7,022 - - 4,916 - - 11,938 Loans receivable - - - - - 3,639,871 3,639,871 Investments, at fair value: Company Stock Fund (Common Stock of Roadway Services, Inc.) 7,049,016 - - - - - 7,049,016 Collective investment funds - - 11,579,053 6,453,533 8,663,179 - 26,695,765 Guaranteed investment contracts: Nonrestricted - - - 4,065,714 - - 4,065,714 Restricted - 3,836,902 - - - - 3,836,902 --------------------------------------------------------------------------------------------------- 7,604,942 3,836,902 12,372,281 11,294,964 9,206,744 3,651,602 47,967,435 --------------------------------------------------------------------------------------------------- LIABILITIES Expenses payable 6,285 - - - - - 6,285 --------------------------------------------------------------------------------------------------- 6,285 - - - - - 6,285 --------------------------------------------------------------------------------------------------- Net assets available for plan benefits $ 7,598,657 $ 3,836,902 $12,372,281 $11,294,964 $9,206,744 $ 3,651,602 $47,961,150 =================================================================================================== SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
3 8 Viking Financial Security Plan Statements of Changes in Net Assets Available for Plan Benefits December 31, 1993
VIKING COMPANY FIXED ASSET INCOME S&P 500 EMPLOYEE STOCK INCOME ALLOCATION ACCUMULATION STOCK SWEEP LOAN FUND FUND FUND FUND FUND ACCOUNT ACCOUNT TOTAL ------------------------------------------------------------------------------------------------------- CONTRIBUTIONS Plan participants $ 1,310,668 $ - $ 2,107,449 $ 2,162,458 $ 1,540,766 $ - $ - $ 7,121,341 Employer 456,877 - 774,093 733,704 578,338 - - 2,543,021 ------------------------------------------------------------------------------------------------------ 1,767,545 - 2,881,542 2,896,162 2,119,104 - - 9,664,353 Income from investments: Dividends 126,673 - 406,463 - 134,551 - - 667,687 Interest 2,762 161,002 - 699,375 - 18 382,862 1,246,019 ------------------------------------------------------------------------------------------------------ 129,435 161,002 406,463 699,375 134,551 18 382,862 1,913,706 Transfers between accounts and loans to participants (276,360) (132,925) 90,843 (598,157) 62,085 5,562 848,952 - DISTRIBUTIONS Lump sum settlements and withdrawals 299,120 - 518,763 818,659 433,146 5,506 221,679 2,296,873 Expenses 7,026 - 12,006 11,171 8,495 74 - 38,772 ------------------------------------------------------------------------------------------------------ 306,146 - 530,769 829,830 441,641 5,580 221,679 2,335,645 Net realized and unrealized appreciation (depreciation) of investments (822,785) - 1,495,108 (1,015) 764,760 - - 1,436,068 ------------------------------------------------------------------------------------------------------ Net increase in net assets 491,689 28,077 4,343,187 2,166,535 2,638,859 - 1,010,135 10,678,482 Net assets available for plan benefits at beginning of 7,598,657 3,836,902 12,372,281 11,294,964 9,206,744 - 3,651,602 47,961,150 year ------------------------------------------------------------------------------------------------------ Net assets available for plan benefits at end of year $ 8,090,346 $ 3,864,979 $16,715,468 $13,461,499 $11,845,603 $ - $4,661,737 $58,639,632 ====================================================================================================== SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
4 9 Viking Financial Security Plan Statements of Changes in Net Assets Available for Plan Benefits (continued) December 31, 1992
WELLS FARGO COMPANY FIXED EQUITY ASSET STOCK INCOME INDEX ALLOCATION FUND FUND FUND FUND ----------------------------------------------------------- CONTRIBUTIONS Plan participants $1,074,380 $ - $ - $ 1,868,490 Employer 438,700 - - 707,916 ---------------------------------------------------------- 1,513,080 - - 2,576,406 Income from investments: Dividends 90,631 - - - Interest 3,285 56,674 - - ---------------------------------------------------------- 93,916 56,674 - - Transfers between accounts and loans to participants 332,531 (9,275,697) (7,488,011) 124,073 DISTRIBUTIONS Lump sum settlements and withdrawals 339,807 49,784 63,892 483,728 Expenses 8,380 - 8 6,538 ---------------------------------------------------------- 348,187 49,784 63,900 490,266 Net realized and unrealized appreciation (depreciation) of investments 563,418 - (140,298) 781,353 ---------------------------------------------------------- Net increase(decrease) in net assets available for plan benefits 2,154,758 (9,268,807) (7,692,209) 2,991,566 Net assets available for plan benefits at beginning of year 5,443,899 13,105,709 7,692,209 9,380,715 ---------------------------------------------------------- Net assets available for plan benefits at end of year $7,598,657 $ 3,836,902 $ - $12,372,281 ========================================================== VIKING INCOME S&P 500 EMPLOYEE ACCUMULATION STOCK SWEEP LOAN FUND FUND ACCOUNT ACCOUNT TOTAL --------------------------------------------------------------------------- CONTRIBUTIONS Plan participants $ 2,007,605 $ 1,262,098 $ - $ - $ 6,212,573 Employer 711,064 481,230 - - 2,338,910 --------------------------------------------------------------------------- 2,718,669 1,743,328 - - 8,551,483 Income from investments: Dividends - - - - 90,631 Interest 700,056 - 4,029 313,783 1,077,827 --------------------------------------------------------------------------- 700,056 - 4,029 313,783 1,168,458 Transfers between accounts and loans to participants 8,621,162 7,119,477 (555,377) 1,121,842 - DISTRIBUTIONS Lump sum settlements and withdrawals 721,466 385,459 10,896 222,656 2,277,688 Expenses 6,611 4,774 1,860 - 28,171 --------------------------------------------------------------------------- 728,077 390,233 12,756 222,656 2,305,859 Net realized and unrealized appreciation (depreciation) of investments (16,846) 734,172 - - 1,921,799 --------------------------------------------------------------------------- Net increase(decrease) in net assets available for plan benefits 11,294,964 9,206,744 (564,104) 1,212,969 9,335,881 Net assets available for plan benefits at beginning of year - - 564,104 2,438,633 38,625,269 --------------------------------------------------------------------------- Net assets available for plan benefits at end of year $11,294,964 $ 9,206,744 $ - $ 3,651,602 $47,961,150 =========================================================================== SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
5 10 Viking Financial Security Plan Notes to Financial Statements (continued) December 31, 1993 1. SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Viking Financial Security Plan (the Plan) have been prepared on the accrual basis. Investments are reported at fair value, which equals the market quotation for the funds and common stock at December 31, 1993, with the difference between cost and market value reflected in the statements of changes in net assets available for plan benefits included in net realized and unrealized appreciation (depreciation) of investments. The cost of securities sold is determined using the average cost method. Substantially all administrative fees are paid by Viking Freight, Inc., the Plan sponsor. The assets of the Plan are held by Wells Fargo Bank N.A., San Francisco, CA., the Trustee of the Plan, and are invested primarily in the following investment funds: COMPANY STOCK FUND - The assets of the fund are invested in the common stock of Roadway Services, Inc. The fair value of the investment is determined based upon the closing quoted market price on the last business day of the Plan year. FIXED INCOME FUND - The assets of the 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 5). Effective in February 1992, all unrestricted assets of this fund were liquidated and transferred to the Viking Income Accumulation Fund. ASSET ALLOCATION FUND - The assets of this fund were invested in the Wells Fargo Asset Allocation Fund as of December 31, 1992. On July 2, 1993, these investments were sold and reinvested in the Wellsfunds Asset Allocation Fund. The investments of the fund are allocated among three asset classes: common stock, U.S. Treasury bonds, and 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. This fund is valued on a daily basis. 6 11 Viking Financial Security Plan Notes to Financial Statements (continued) 1. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) VIKING INCOME ACCUMULATION FUND - The assets of the fund are invested in a mix of fixed-rate and variable-rate investments. The assets consist of guaranteed investment contracts with New York Life Insurance and Seafirst National Bank and an investment in the Wells Fargo Income Accumulation Fund. The guaranteed investment contracts earn a guaranteed rate of return, and the withdrawal of funds is restricted as specified in the contracts. 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 in the collective investment fund 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 were invested in the Wells Fargo S&P 500 Stock Fund as of December 31, 1992. On July 2, 1993, these investments were sold and reinvested in the Wellsfunds S&P 500 Stock Fund. The 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 is based upon quoted redemption values on the last business 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%. 7 12 Viking Financial Security Plan Notes to Financial Statements (continued) 2. DESCRIPTION OF THE PLAN The Plan is designed to qualify under the Internal Revenue Code as a profit sharing plan which includes a cash or deferred arrangement and allows employees to contribute from 1% to 15% of their total pay on a before-tax basis, subject to certain limitations applicable to highly compensated employees. The before-tax contributions are not currently subject to federal or state income taxes. 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. Viking Freight, Inc. (the Company) matches 50% of the employees' contributions up to a maximum of 3% of the employees' salaries. The Company's 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 four investment funds: the Viking Income Accumulation Fund, the Asset Allocation Fund, the S&P 500 Stock Fund, and the Company Stock Fund (consisting of Roadway Services, Inc. common stock). Employee contributions, Company matching contributions, and any investment earnings are 100% vested and are nonforfeitable. PLAN TERMINATION Although it has not expressed any intent to do so, the Company has 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. 8 13 Viking Financial Security Plan Notes to Financial Statements (continued) 3. INVESTMENTS The market value and net asset value per share/unit at December 31, 1993 and 1992 for the respective investment funds follows:
NET ASSET MARKET VALUE PER VALUE SHARE/UNIT ----------------------------- December 31, 1993: Roadway Services, Inc. Common Stock (124,634 shares) $ 7,478,040 $60.00 =========== Collective investment funds: Wells Fargo Income Accumulation Fund $ 11,639,788 11.21 Wellsfund, Inc. Asset Allocation Fund 15,911,505 10.27 Wellsfund, Inc. S&P 500 Stock Fund 11,241,893 10.44 ------------ $ 38,793,186 ============ Guaranteed investment contracts: Nonrestricted -- New York Life $ 1,062,116 1.00 =========== Restricted -- Mutual Benefit Life $ 3,883,635 1.00 ===========
9 14 Viking Financial Security Plan Notes to Financial Statements (continued) 3. INVESTMENTS (CONTINUED)
NET ASSET MARKET VALUE PER VALUE SHARE/UNIT ---------------------------- December 31, 1992: Roadway Services, Inc. Common Stock (103,662 shares) $ 7,049,016 $68.00 =========== Collective investment funds: Wells Fargo Asset Allocation Fund $ 11,579,053 13.27 Wells Fargo Income Accumulation Fund 6,453,533 10.71 Wells Fargo S&P 500 Stock Fund 8,663,179 14.84 ------------ $ 26,695,765 ============= Guaranteed investment contracts: Nonrestricted: New York Life $ 1,959,550 1.00 Seafirst National Bank 2,106,164 1.00 ------------- $ 4,065,714 ============ Restricted -- Mutual Benefit Life $ 3,836,902 1.00 ============
4. INCOME TAX STATUS The Internal Revenue Service has ruled (February 22, 1991) that the Plan qualifies under Section 401(a) of the Internal Revenue Code and is therefore not subject to tax under present income tax law. 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. 10 15 Viking Financial Security Plan Notes to Financial Statements (continued) 5. MUTUAL BENEFIT LIFE GUARANTEED INVESTMENT CONTRACT As of July 16, 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, Inc., as the plan sponsor, has committed to protect plan participants from any loss of principal (participant contributions and the Company match) as well as any credited interest upon maturity of the contract. 11 16 SUPPLEMENTAL SCHEDULES 17 Viking Financial Security Plan Form 5500 Item 27a - Schedule of Assets Held for Investment Purposes December 31, 1993
MARKET IDENTITY OF ISSUER DESCRIPTION OF INVESTMENT COST VALUE Common stock of Roadway Services, Inc.* 124,634 shares of common stock $ 6,647,839 $ 7,478,040 Wellsfunds, Inc. 1,549,319 units of collective Asset Allocation Fund * investment fund 15,557,272 15,911,505 Wells Fargo Bank, N.A. 1,038,340 units of collective Wells Fargo Income Accumulation Fund * investment fund 11,640,852 11,639,788 Wellsfunds, Inc. 1,076,810 units of collective S&P 500 Stock Fund equity investment fund 10,813,124 11,241,893 New York Life Insurance Company: Guaranteed investment contract Fixed income investment contract 1,062,116 1,062,116 Mutual Benefit Life Insurance Company:** Guaranteed investment contract Fixed income investment contract 3,883,635 3,883,635 Wells Fargo Bank, N.A.:* Money market fund Short-term investment fund*** 146,960 146,960 Viking Financial Security Plan Loans receivable maturing at various dates through 2003 at interest rates ranging from 8% to 13-1/2% 4,661,737 4,661,737 ------------- ------------- $ 54,413,535 $ 56,025,674 ================================== * A party-in-interest as defined by ERISA. ** As described in Note 5 of Notes to Financial Statements, the assets of Mutual Benefit Life were frozen by state insurance regulators. *** Included in cash on Statement of Assets Available for Plan Benefits.
12 18 Viking Financial Security Plan Form 5500 Item 27d - Schedules of Reportable Transactions Year Ended December 31, 1993 Category (i) - Individual Transactions in Excess of 5% of the Current Value of Plan Assets
SELLING COST OF CURRENT VALUE AT GAIN (LOSS) IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PRICE ASSET TRANSACTION DATE ON SALE - - ----------------------------------------------------------------------------------------------------------------------------------- Asset Allocation Fund: Wells Fargo Asset Allocation Fund * Collective investment fund $ 14,018,028 $ 12,930,999 $ 14,018,038 $ 1,087,039 Wellsfunds, Inc. Asset Allocation Fund* Collective investment fund - 14,115,846 14,115,846 - Viking Income Accumulation Fund: Seafirst National Bank Guaranteed investment contract 2,290,262 2,290,262 2,290,262 - S&P 500 Stock Fund: Wells Fargo S&P 500 Stock Fund * Collective investment fund 9,912,451 9,609,069 9,912,451 303,383 Wellsfunds, Inc. S&P 500 Stock Fund* Collective investment fund - 9,983,546 9,983,546 - *A party-in-interest as defined by ERISA.
13 19 Viking Financial Security Plan Form 5500 Item 27d - Schedules of Reportable Transactions (continued) Year Ended December 31, 1993 Category (iii) - Series of Transactions in Excess of 5% of the Current Value of Plan Assets
PURCHASES SALES ---------------------------------- ---------------------------------------------------- IDENTITY OF PARTY INVOLVED AND NUMBER OF NUMBER OF GAIN DESCRIPTION OF ASSET TRANSACTIONS AMOUNT TRANSACTIONS AMOUNT (LOSS) - - ------------------------------------------------------------------------------------------------------------------------------------ Asset Allocation Fund: Wells Fargo Asset Allocation Fund* 48 $ 1,957,664 64 $ 14,655,475 $ 1,118,758 Wellsfunds, Inc. Asset Allocation Fund* 71 16,186,689 41 651,534 22,117 Viking Income Accumulation Fund: Seafirst National Bank - - 3 2,106,164 - Wells Fargo Income Accumulation Fund* 96 7,653,921 124 2,466,651 49 S&P 500 Stock Fund: Wells Fargo Bank, N.A.* 56 1,516,011 54 10,497,859 318,669 Wellsfunds, Inc. S&P 500 Fund* 62 11,385,351 46 589,549 17,322 Company Stock Fund: Wells Fargo* Money Market Fund 209 3,381,412 192 3,312,103 - Roadway Services, Inc.* common stock 81 2,577,298 109 1,325,489 161,927 *A party-in-interest as defined by ERISA. There were no Category (ii) or (iv) reportable transactions during 1993.
14 EX-23 2 ROADWAY EXHIBIT 23 1 [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 April 28, 1994, 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, 1993. ERNST & YOUNG June 27, 1994 -----END PRIVACY-ENHANCED MESSAGE-----