-----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, IetjcDX8L+D6t3ssJ2Lzp2JOLbUsmd6utIoklxtAmm5jVNdOvj85jmVPTGuTgu9J K5cD7h44eI9iyteQmaykYQ== 0000790498-97-000005.txt : 19970627 0000790498-97-000005.hdr.sgml : 19970627 ACCESSION NUMBER: 0000790498-97-000005 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970626 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DATA TRANSMISSION NETWORK CORP CENTRAL INDEX KEY: 0000790498 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 470669375 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15405 FILM NUMBER: 97630702 BUSINESS ADDRESS: STREET 1: 9110 W DODGE RD STE 200 CITY: OMAHA STATE: NE ZIP: 68114 BUSINESS PHONE: 4023902328 MAIL ADDRESS: STREET 1: 9110 WEST DODGE ROAD STREET 2: SUITE 200 CITY: OMAHA STATE: NE ZIP: 68114 FORMER COMPANY: FORMER CONFORMED NAME: DATALINE INC DATE OF NAME CHANGE: 19871214 11-K 1 FORM 11-K United States Securities and Exchange Commission Washington, D.C. 20549 Form 11-K ( X ) Annual Report Pursuant To Section 15(d) Of The Securities and Exchange Act of 1934 For the year ended December 31, 1996. or ( ) Transition Report Pursuant to Section 15(d) Of The Securities Exchange Act of 1934 Commission File Number 0-15405 or 33-50412 DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN ------------------------------------- Full Title of the Plan DATA TRANSMISSION NETWORK CORPORATION 9110 W. Dodge Road, Suite 200 Omaha, NE 68114 ---------------------------------------- Name of Issuer of Securities and Address of Principal Executive Office SIGNATURES 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. Date: June 25, 1997 Name of Plan: Data Transmission Network Corporation 401(k) Plan Signature: /s/ Greg T. Sloma --------------------------- Greg T. Sloma Plan Administrator -1- DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN TABLE OF CONTENTS (a) Financial Statements: Independent Auditors' Report 3 Statements of Net Assets Available for Benefits as of December 31, 1996 and 1995 4 - 5 Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1996 and 1995 6 - 7 Notes to Financial Statements 8 - 11 (b) Supplemental Schedules: Item 27a - Schedule of Assets Held for Investment Purposes - December 31, 1996 12 Item 27d - Schedule of Reportable Transactions - For The Year Ended December 31, 1996 13 (c) Exhibits: Exhibit A - Independent Auditors' Consent 14 REQUIRED INFORMATION The Plan financial statements and schedules are prepared in accordance with the financial reporting requirements of ERISA and are included herein as listed in the Table of Contents shown above. -2- INDEPENDENT AUDITORS' REPORT Data Transmission Network Corporation 401(k) Plan Data Transmission Network Corporation Omaha, Nebraska We have audited the accompanying statements of net assets available for benefits of the Data Transmission Network Corporation 401(k) Plan as of December 31, 1996 and 1995, and the related statement 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, such financial statements present fairly, in all material respects, the net assets available for benefits of the Data Transmission Network Corporation 401(k) Plan as of December 31, 1996 and 1995, and the changes in net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of Assets Held for Investment Purposes at December 31, 1996 and Reportable Transactions for the year ended December 31, 1996, are presented for purposes of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information by fund in the statements of net assets available for benefits and the statements of changes in net assets available for benefits is presented for the purpose of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of the individual funds. The supplemental schedules and supplemental information by fund are the responsibility of the Plan's management. Such supplemental schedules and supplemental information by fund have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. Deloitte & Touche LLP June 5, 1997 Omaha, Nebraska -3-
DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1996 Supplemental Information By Fund ------------------------------------------------------------------------------------ DTN Short Term Intermediate Cash Common Government Term Bond Fixed Income Equity Stock Transfer Stock Fund Securities Mutual Fund Mutual Fund Mutual Fund Account Total ----------- ---------- ------------ ------------ ------------ -------- ----------- Investments, At Fair Value (Note 5): DTN Common Stock $ 5,729,618 $ - $ - $ - $ - $ - $ 5,729,618 U.S. Treasury Bills/Notes - 387,850 - - - - 387,850 Intermediate Term Bond Mutual Fund - - 332,805 - - - 332,805 Fixed Income Mutual Fund - - - 323,371 - - 323,371 Equity Stock Mutual Fund - - - - 1,864,948 - 1,864,948 Money Market Fund 63,167 236,351 - - - - 299,518 ----------- --------- --------- --------- ----------- -------- ----------- Total Investments 5,792,785 624,201 332,805 323,371 1,864,948 - 8,938,110 Contributions Receivable 127,860 127,860 Cash & Cash Equivalents - 1,208 - - - 69,986 71,194 ----------- --------- --------- --------- ----------- -------- ----------- Net Assets Available For Benefits $ 5,792,785 $753,269 $ 332,805 $ 323,371 $ 1,864,948 $ 69,986 $ 9,137,164 =========== ========= ========= ========= =========== ======== ===========
See Notes To Financial Statements. -4-
DATA TRANSMISSION NETWORK CORPORATION 401 (k) PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1995 Supplemental Information By Fund ------------------------------------------------------------------------------------- DTN Short Term Intermediate Cash Common Government Term Bond Fixed Income Equity Stock Transfer Stock Fund Securities Mutual Fund Mutual Fund Mutual Fund Account Total ----------- ---------- ------------ ------------ ------------ -------- ----------- Investments, At Fair Value (Note 5): DTN Common Stock $ 3,890,750 $ - $ - $ - $ - $ - $ 3,890,750 U.S. Treasury Bills/Notes - 394,182 - - - - 394,182 Intermediate Term Bond Mutual Fund - - 193,516 - - - 193,516 Fixed Income Mutual Fund - - - 239,770 - - 239,770 Equity Stock Mutual Fund - - - - 858,285 - 858,285 Money Market Fund 138,197 185,385 - - - - 323,582 ----------- ---------- --------- --------- ----------- -------- ----------- Total Investments 4,028,947 579,567 193,516 239,770 858,285 - 5,900,085 Contributions Receivable 120,776 120,776 Cash & Cash Equivalents 15,835 - - - 15,835 34,382 66,052 ----------- ---------- --------- --------- ----------- -------- ----------- Net Assets Available For Benefits $ 4,044,782 $ 700,343 $ 193,516 $ 239,770 $ 874,120 $ 34,382 $ 6,086,913 =========== ========= ========= ========= =========== ======== ===========
See Notes To Financial Statements. -5-
DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 1996 Supplemental Information By Fund --------------------------------------------------------------------------------------- DTN Short Term Intermediate Cash Common Government Term Bond Fixed Income Equity Stock Transfer Stock Fund Securities Mutual Fund Mutual Fund Mutual Fund Account Total ----------- ----------- ------------ ------------ ------------ --------- ------------ Net Assets Available for Benefits, Beginning of Period $4,044,782 $700,343 $193,516 $ 239,770 $ 874,120 $ 34,382 $ 6,086,913 Additions: Investment Income: Net Appreciation (Depreciation) in Fair Value of Investments 1,465,830 4,681 (3,699) (13,645) 81,080 346 1,534,593 Interest 5,665 28,852 97 136 237 728 35,715 Dividends - - 12,284 14,570 164,902 - 191,756 ----------- --------- --------- ---------- ----------- --------- ----------- Total Investment Income 1,471,495 33,533 8,682 1,061 246,219 1,074 1,762,064 Contributions: Employer 323,990 54,771 31,786 42,249 217,182 - 669,978 Employee 563,957 95,370 44,673 66,819 384,339 - 1,155,158 ----------- --------- --------- ---------- ----------- --------- ----------- Total Contributions 887,947 150,141 76,459 109,068 601,521 - 1,825,136 ----------- --------- --------- ---------- ----------- --------- ----------- Total Additions 2,359,442 183,674 85,141 110,129 847,740 1,074 3,587,200 Distributions to Plan Participants (186,170) (26,745) (21,774) (58,379) (143,041) (67,547) (503,656) Fees and Expenses (15,833) (6,210) (1,150) (1,598) (8,364) (138) (33,293) Transfer of Assets (To) From Other Funds (409,436) (97,793) 77,072 33,449 294,493 102,215 - ----------- --------- --------- ---------- ----------- --------- ----------- Net Increase 1,748,003 52,926 139,289 83,601 990,828 35,604 3,050,251 ----------- --------- --------- ---------- ----------- --------- ----------- Net Assets Available for Benefits, End of Period $5,792,785 $753,269 $332,805 $ 323,371 $1,864,948 $ 69,986 $9,137,164 =========== ========= ========= ========== =========== ========= ===========
See Notes To Financial Statements. -6-
DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 1995 Supplemental Information By Fund -------------------------------------------------------------------------------------- DTN Short Term Intermediate Cash Common Government Term Bond Fixed Income Equity Stock Transfer Stock Fund Securities Mutual Fund Mutual Fund Mutual Fund Account Total ----------- ----------- ------------ ------------ ------------ -------- ----------- Net Assets Available for Benefits, Beginning of Period $1,127,573 $368,284 $133,757 $ 186,459 $ 453,345 $207,759 $2,477,177 Additions: Investment Income: Net Appreciation (Depreciation) in Fair Value of Investments 2,420,000 7,228 10,163 23,754 92,793 - 2,553,938 Interest 11,292 12,491 6 3 16 3,149 26,957 Dividends - - 9,474 12,525 58,714 26,957 80,920 ----------- --------- --------- ---------- ----------- --------- ----------- Total Investment Income 2,431,292 19,719 19,643 36,282 151,523 3,356 2,661,815 Contributions: Employer 235,915 58,158 25,605 26,165 138,992 3,263 488,098 Employee 368,205 85,804 36,194 42,280 246,472 5,251 784,206 ----------- --------- --------- ---------- ----------- --------- ----------- Total Contributions 604,120 143,962 61,799 68,445 385,464 8,514 1,272,304 ----------- --------- --------- ---------- ----------- --------- ----------- Total Additions 3,035,412 163,681 81,442 104,727 536,987 11,870 3,934,119 Distributions to Plan Participants (24,122) (148) (303) (6,239) (18,842) (274,729) (324,383) Transfer of Assets (To) From Other Funds (94,081) 168,526 (21,380) (45,177) (97,370) 89,482 - ----------- --------- --------- ---------- ----------- --------- ----------- Net Increase (Decrease) 2,917,209 332,059 59,759 53,311 420,775 (173,377) 3,609,736 ----------- --------- --------- ---------- ----------- --------- ----------- Net Assets Available for Benefits, End of Period $4,044,782 $700,343 $193,516 $ 239,770 $ 874,120 $ 34,382 $6,086,913 =========== ========= ========= ========== =========== ========= ===========
See Notes To Financial Statements. -7- DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 1996 AND 1995 1. Description of the Plan The following brief description of the Data Transmission Network Corporation 401(k) Plan (the Plan) is provided for general information only. Participants should refer to the Plan Agreement for more complete information. General - The Plan, which first became effective on July 1, 1988, was established to provide certain employees of Data Transmission Network Corporation (the Company or DTN) a formal plan to save for retirement. All full-time employees who have completed one year of service are eligible to participate in the Plan, although participation by eligible employees is voluntary. The Plan is administered by the Company. The Trustee for the Plan is First National Bank of Omaha. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA). Contributions - Each participant may, subject to the maximum limitations under ERISA, authorize the Company to reduce their compensation by a percentage between 1/2% and 15%, and have such amount contributed to the Plan on their behalf as a basic contribution. Currently, the Company will make a matching contribution equal to 100% of the participant's basic contribution, but such matching contribution shall not exceed 4% of the participant's compensation. The Company may make discretionary contributions in addition to the matching contributions mentioned above. The Company has elected not to make any discretionary contributions since the Plan's inception. The Company forwards all participant basic contributions and matching contributions to the Trustee at the end of each calendar month. The Plan permits participants to rollover qualified contributions from other qualified plans into the Plan. Contributions are invested at the participant's discretion in one or more of five funds: a DTN Common Stock Fund consisting of common stock of the Company; a Short Term Government Securities Fund consisting of U.S. Treasury Bills and other money market type investments; an Intermediate Term Bond Mutual Fund investing primarily in government and corporate bonds; a Fixed Income Mutual Fund investing in longer-term corporate bonds; and an Equity Stock Mutual Fund investing in common stock and other equity investments. A participant's basic contributions are made on a pre-tax basis, i.e., excluded from gross income for the participant's personal tax purposes. Such contributions are subject to social security taxes. Amounts contributed by the Company are deductible currently by the Company. A participant does not become subject to federal income taxes on basic contributions or on the amount of Company contributions and Plan earnings until such amounts are withdrawn or distributed. The tax consequences of distributions to participants will vary depending on the circumstances at the time of distribution. If a participant does not direct his distribution at termination to another qualified plan, the distribution will be subject to a 20% tax/penalty. Vesting - All participants are 100% vested in their basic, matching and rollover contributions at all times. Distributions - The normal form of benefit for a participant who is terminating or retiring is a lump sum payment in Company common stock, cash or both. Retiring participants may elect installment payments generally over their assumed life expectancy. -8- Plan Participation - The number of employees participating in the various investment funds at December 31, 1996 and 1995 were as follows:
1996 1995 ---- ---- DTN Common Stock Fund 399 267 Short Term Government Securities Fund 101 80 Intermediate Term Bond Mutual Fund 118 78 Fixed Income Mutual Fund 158 88 Equity Stock Mutual Fund 356 233 Cash Transfer Account 12 6
Plan Termination - Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue it's matching contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will remain 100 percent vested in their accounts. 2. Summary of Significant Accounting Policies Investments in common stock of DTN are recorded at fair value as determined by the closing bid price quoted on the National Association of Securities Dealers Automated Quotation System (NASDAQ- NMS) on the last business day of the year. Investments in U.S. Treasury Bills within the Short Term Government Securities Fund are recorded at fair market value based on quoted bond prices. Investments in the Intermediate Term Bond Mutual Fund, Fixed Income Mutual Fund and Equity Stock Mutual Fund are recorded at the net asset value of the mutual fund as quoted by each mutual fund on the last business day of the year, which approximates fair value. Net appreciation (depreciation) in the fair value of investments is based upon the fair value of the investments at the beginning of the year or cost, if purchased during the year. Interest and dividend income are recorded on the accrual basis. The Plan's policy is to record benefit payments upon distribution of balances to participants. Benefits due and unpaid to terminated participants were $69,986 and $34,382 at December 31, 1996 and 1995, respectively. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 3. Fees and Expenses Beginning in 1996, all administrative expenses of the Plan are being paid out of the Plan assets. Expenses of the Plan were paid by the Company for 1995. 4. Income Tax Status The Plan obtained its latest determination letter on October 20, 1992, 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 believes 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. -9- 5. Investments The following table presents the fair value of investments at December 31, 1996 and 1995. Investments that represent five percent or more of the Plan's net assets are separately identified:
1996 1995 ---------------------------------- ----------------------------------- Investments At Number of Number of Fair Value As Shares/Units Shares/Units Determined By or Principal or Principal Quoted Market Price Amount Fair Value Amount Fair Value - ------------------------- ------------ ---------- ------------ ------------- Data Transmission Network Corporation Common Stock 257,500 $ 5,729,618 237,000 (1) $ 3,890,750 Mutual Funds: First Omaha Intermediate Term Bond Mutual Fund 33,688.237 332,805 19,255.335 193,516 First Omaha Equity Market Fund 137,795.466 1,864,948 67,211.077 858,285 First Omaha Fixed Income Fund 31,948.711 323,371 22,856.983 239,770 U. S. Treasury Bills/Notes: $50,000 face value dated 01-12-95, due 01-11-96 49,926 $50,000 face value dated 03-09-95, due 03-07-96 49,528 $100,000 face value dated 11-09-95, due 05-09-96 98,170 $100,000 face value dated 10-19-95, due 10-17-96 95,963 $100,000 face value dated 08-31-94, due 08-31-96 100,594 $100,000 face value dated 03-07-96, due 03-06-97 99,100 $100,000 face value dated 06-27-96, due 06-26-97 97,490 $100,000 face value dated 09-19-96, due 09-18-97 96,270 $100,000 face value dated 12-12-96, due 12-11-97 94,990 Money Market Fund 299,518 323,583 ---------- ---------- $8,938,110 $5,900,085 ========== ========== (1) Adjusted for 3-for-1 stock split effectuated on June 28, 1996 for shares of record June 14, 1996.
-10- 6. Reconciliation of Financial Statements to Form 5500 The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500.
December 31, 1996 1995 ----------- ------------ Net Assets Available For Benefits Per The Financial Statements $9,137,164 $ 6,086,913 Amounts Allocated to Withdrawing Participants (69,986) (34,382) ----------- ------------ Net Assets Available for Benefits Per the Form 5500 $9,067,178 $ 6,052,531 =========== ============
The following is a reconciliation of distributions to plan participants per the financial statements to the Form 5500.
Year Ended December 31, 1996 Distributions to Plan Participants Per The Financial Statements $ 503,656 Add: Amounts Allocated To Withdrawing Participants At December 31, 1996 69,986 Less: Amounts Allocated to Withdrawing Participants At December 31, 1995 (34,382) ---------- Distributions to Plan Participants Per the Form 5500 $ 539,260 ==========
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been approved for payment at December 31 but not yet paid as of that date. 7. Related Party Transactions Certain Plan investments are shares of mutual funds managed by First National Bank of Omaha. First National Bank of Omaha is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest. The Plan has an investment in DTN common stock. DTN is the Plan sponsor and, therefore, these transactions qualify as party-in-interest. -11-
DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN SUPPLEMENTAL SCHEDULES ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1996 Column B Column C Column D Column E Description of Investment Including Identity of Issue, Borrower, Collateral, Rate of Interest, Maturity Current Lessor or Similar Party Date, par or Maturity Value Cost Value - ---------------------------- ------------------------------------------------ ----------- ----------- Data Transmission Network Corporation Common Stock* 257,500 shares $ 1,905,692 $ 5,729,618 U.S. Treasury Bill $100,000 face value dated 03-07-96, due 03-06-97 94,921 99,100 U.S. Treasury Bill $100,000 face value dated 06-27-96, due 06-26-97 95,589 97,490 U.S. Treasury Bill $100,000 face value dated 09-19-96, due 09-18-97 94,368 96,270 U.S. Treasury Bill $100,000 face value dated 12-12-96, due 12-11-97 94,863 94,990 First Omaha Intermediate Term 33,688.237 units 330,953 332,805 Bond Mutual Fund* First Omaha Equity Mutual Fund* 137,795.466 units 1,751,475 1,864,948 First Omaha Fixed Income Fund* 31,948.711 units 323,374 323,371 Money Market Fund Short-Term Investment Fund 299,517 299,518 ---------- ---------- Total Investments $4,990,752 8,938,110 ========== ========== *Represents a Party-In-Interest
-12-
DATA TRANSMISSION NETWORK CORPORATION 401(k) PLAN SUPPLEMENTAL SCHEDULES ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1996 Series Transactions, When Aggregated, Involving an Amount in Excess of Five Percent of the Current Value of Plan Assets Column A Column C Column D Column E Column F Column G Number of Number Total Dollar Total Dollar Realized Gain Identity of Party Involved Purchases of Sales Value of Purchase Value of Sales or (Loss) - --------------------------------------------------- --------- -------- ----------------- -------------- ------------- Data Transmission Network Corporation Common Stock* 13 8 $ 505,958 $ 131,958 $(2,958) U.S. Treasury Bills/Notes: First Omaha Equity Mutual Fund* 40 22 1,201,139 264,002 11,555 First Omaha Fixed Income Mutual Fund* 31 14 262,714 174,675 (9,209) *Represents Party-In-Interest
-13- EX-23 2 INDEPENDENT AUDITORS' CONSENT Exhibit A INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Registration Statement 33-50412 on Form S-8 of our report dated June 5, 1997, appearing in this Annual Report on Form 11-K of the Data Transmission Network Corporation 401(k) Plan for the year ended December 31, 1996. DELOITTE & TOUCHE LLP Omaha, Nebraska June 5, 1997 -14- -----END PRIVACY-ENHANCED MESSAGE-----