-----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, AHpiStcJwvHxkeN2bDTWC8ss/hX8Lbm2f5U1USN3NgXwxXEnrAygTXAeOC+ZDwHD RSLWPZINmqjvyHvFLeirDA== 0000950134-94-001134.txt : 19940927 0000950134-94-001134.hdr.sgml : 19940927 ACCESSION NUMBER: 0000950134-94-001134 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940331 FILED AS OF DATE: 19940926 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTEX CORP CENTRAL INDEX KEY: 0000018532 STANDARD INDUSTRIAL CLASSIFICATION: 1531 IRS NUMBER: 750778259 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06776 FILM NUMBER: 94550321 BUSINESS ADDRESS: STREET 1: 3333 LEE PARKWAY SUITE 1200 CITY: DALLAS STATE: TX ZIP: 75219 BUSINESS PHONE: 2145596500 MAIL ADDRESS: STREET 1: PO BOX 19000 STREET 2: PO BOX 19000 CITY: DALLAS STATE: TX ZIP: 75219 FORMER COMPANY: FORMER CONFORMED NAME: CENTEX CONSTRUCTION CO INC DATE OF NAME CHANGE: 19681211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 3333 HOLDING CORP CENTRAL INDEX KEY: 0000818762 STANDARD INDUSTRIAL CLASSIFICATION: 6500 IRS NUMBER: 752178860 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09624 FILM NUMBER: 94550322 BUSINESS ADDRESS: STREET 1: 3333 LEE PKWY STREET 2: SUITE 500 CITY: DALLAS STATE: TX ZIP: 75219 BUSINESS PHONE: 2145596700 MAIL ADDRESS: STREET 1: PO BOX 19000 STREET 2: PO BOX 19000 CITY: DALLAS STATE: TX ZIP: 75219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTEX DEVELOPMENT CO LP CENTRAL INDEX KEY: 0000818764 STANDARD INDUSTRIAL CLASSIFICATION: 6500 IRS NUMBER: 752168471 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09625 FILM NUMBER: 94550323 BUSINESS ADDRESS: STREET 1: PO BOX 19000 CITY: DALLAS STATE: TX ZIP: 75219 BUSINESS PHONE: 2145596700 MAIL ADDRESS: STREET 1: PO BOX 19000 STREET 2: PO BOX 19000 CITY: DALLAS STATE: TX ZIP: 75219 11-K 1 FORM 11-K 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended March 31, 1994 AMENDED AND RESTATED PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION 3333 Lee Parkway, Suite 1200 Dallas, Texas 75219 (Full title and address of plan) Commission File No. 1-6776 Commission File Nos. 1-9624 and 1-9625, respectively CENTEX CORPORATION 3333 HOLDING CORPORATION AND CENTEX DEVELOPMENT COMPANY, L.P. 3333 Lee Parkway, Suite 1200 3333 Lee Parkway, Suite 500 Dallas, Texas 75219 Dallas, Texas 75219 (Name of issuer and address of (Names of issuers and addresses of principal executive offices) principal executive offices)
================================================================================ 2 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Administrative Committee of the Profit Sharing and Retirement Plan of Centex Corporation - Salaried Employees: We have audited the accompanying financial statements and supplemental schedules of the Profit Sharing and Retirement Plan of Centex Corporation - Salaried Employees (the "Plan") as of March 31, 1994 and 1993, and for the years then ended, as listed in the accompanying index. These financial statements and the supplemental schedules referred to below are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements and supplemental schedules based on our audits. Except as explained in the following paragraph, 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. As permitted by 29 CFR 2520.103-8 of the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, investment assets held by Texas Commerce Bank, N.A., the trustee of the Plan, and transactions in those assets were excluded from the scope of our audit of the Plan's 1993 financial statements, except for comparing the information provided by the trustee, which is summarized in Note 8, with the related information included in the financial statements. Because of the significance of the information that we did not audit, we are unable to, and do not, express an opinion on the Plan's financial statements as of March 31, 1993. The form and content of the information included in the 1993 financial statements, other than that derived from the information certified by the trustee, have been audited by us and, in our opinion, are presented in compliance with the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the 1994 financial statements referred to above present fairly, in all material respects, the net assets of the Plan as of March 31, 1994, and the changes in its net assets for the year then ended, in conformity with generally accepted accounting principles. 3 Our audit of the Plan's financial statements as of and for the year ended March 31, 1994, was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedules I & II of the Plan 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 Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements for the year ended March 31, 1994, and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. ARTHUR ANDERSEN LLP Dallas, Texas, September 13, 1994 4 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES MARCH 31, 1994 AND 1993
Page ---- Statements of Net Assets Available for Plan Benefits as of March 31, 1994 and 1993 3 Statements of Changes in Net Assets Available for Plan Benefits for the Years Ended March 31, 1994 and 1993 4 Notes to Financial Statements 5-13 Schedule I - Item 27a - Supplemental Schedule of Assets Held for Investment Purposes as of March 31, 1994 14 Schedule II - Item 27d - Supplemental Schedule of Reportable Transactions for the Year Ended March 31, 1994 15
-2- 5 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF MARCH 31, 1994 AND 1993
1994 1993 ------------ ----------- ASSETS: Investments, at Fair Market Value - Interest-bearing cash accounts $ 632,268 $ 295,578 Centex common stock 7,452,731 6,514,438 Real estate 640,160 934,679 Group annuity contracts - 1,887,488 International equity funds - 2,179,276 Equity Pool 21,662,869 14,041,043 Fixed Income Pool 72,410,000 62,376,656 ------------ ----------- Total Investments 102,798,028 88,229,158 ------------ ----------- Receivables - Company contributions 9,819,611 8,624,263 Participant notes receivable 556,905 410,056 (Payable to) receivable from trustee (41,518) 14,108 ------------ ----------- Total Receivables 10,334,998 9,048,427 ------------ ----------- NET ASSETS AVAILABLE FOR PLAN BENEFITS $113,133,026 $97,277,585 ============ ===========
The accompanying notes are an integral part of these financial statements. -3- 6 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS FOR THE YEARS ENDED MARCH 31, 1994 AND 1993
1994 1993 ------------ ----------- ADDITIONS TO NET ASSETS: Company contributions $ 9,819,611 $ 8,596,477 Participant contributions 8,670,214 6,195,607 Interest and dividends 4,572,860 4,451,931 Net change in fair market value of investments - Realized 1,084,698 1,946,218 Unrealized (2,128,447) 4,219,089 Transfers from other plans 222,746 73,982 ------------ ----------- Total additions 22,241,682 25,483,304 ------------ ----------- DEDUCTIONS FROM NET ASSETS: Benefits paid to participants (6,472,273) (7,395,231) Administrative expenses (163,968) (165,249) Reimbursement from Centex Corporation of certain investment and administrative expenses 250,000 250,000 ------------ ----------- Total deductions (6,386,241) (7,310,480) ------------ ----------- NET INCREASE IN NET ASSETS AVAILABLE FOR PLAN BENEFITS 15,855,441 18,172,824 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of Year 97,277,585 79,104,761 ------------ ----------- End of year $113,133,026 $97,277,585 ============ ===========
The accompanying notes are an integral part of these financial statements. -4- 7 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES NOTES TO FINANCIAL STATEMENTS MARCH 31, 1994 AND 1993 (1) SUMMARY DESCRIPTION OF THE PLAN: The Profit Sharing and Retirement Plan of Centex Corporation - Salaried Employees (the "Plan"), created in 1954, is a defined contribution retirement plan covering eligible employees of Centex Corporation (the "Company") and eligible employees of certain subsidiaries of the Company which have adopted the Plan with the Company's consent. The Company and the certain subsidiaries collectively comprise the "Participating Employers." The Plan is administered by an Administrative Committee (the "Committee") appointed by the board of directors of the Company. The Plan's assets are held in a separate master trust ("Trust") which participates in the master trust (the "Master Trust") governed by a trust agreement (the "Trust Agreement") with Texas Commerce Bank, N.A. (the "Trustee"), which is held accountable by and reports to the Committee. Contributions are made by the Participating Employers as determined by their boards of directors. The Plan permits employees to contribute up to 15% of their compensation to a 401(k) account at the beginning of the quarter following their date of hire. Employees of Participating Employers become eligible to participate in the Plan after completing one year of service, as defined, provided the employee is not a member of a group or class of employees covered by a collective bargaining agreement unless such agreement extends the Plan to such group or class of employees. One year of service, for purposes of eligibility, is defined as the 12 consecutive month period during which the employee worked 1,000 hours, ending on the first anniversary of the employee's date of hire or the end of any Plan year thereafter. Participation in the Plan for employees commences on the earlier of April 1 or October 1, immediately following the date an employee becomes eligible to participate. The Plan also permits participant voluntary (after-tax) contributions of up to 10% of compensation, as defined. Total additions to a participant's account are limited to a maximum of 25% of compensation (up to a maximum of $30,000) for 401(k), Participating Employers' contributions, forfeitures, and voluntary (after-tax) contributions on a combined basis. After two years of service, a participant is vested in 10% of his/her "retirement account" (as defined). Participants vest an additional 10% after three years of service and 20% for each additional year of service after that. A -5- 8 participant is fully vested after seven years of service or upon retirement, disability, or death. Participants are fully vested in their voluntary contributions. The Company has the right to discontinue contributions and terminate the Plan subject to the provisions of the Employee Retirement Income Security Act of 1974. The Plan provides that in the event of termination, participants will become fully vested in their retirement account. The Plan allows participants to direct their accounts into different funds. The Plan offers three funds: a Balanced Fund, a Fixed Income Fund, and a Centex Common Stock Fund (CCSF). (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The financial statements are prepared on the accrual basis of accounting. Investments are presented at quoted market values except for the investment in real estate, which is stated at estimated fair market value as determined by the Committee. Certain 1993 balances have been reclassified to be consistent with the 1994 presentation. (3) CHANGE IN REALIZED AND UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENTS: The change in realized and unrealized appreciation (depreciation) in fair market value of investments included in the accompanying Statements of Changes in Net Assets Available for Plan Benefits for the Plan years ended March 31, 1994 and 1993, consists of the following:
1994 1993 ------------------------------- ------------------------------- Unrealized Realized Unrealized Realized ----------- ----------- ---------- ------------ Common Stock $ (200,344) $ 31,344 $1,565,825 $ 16,875 Fixed Income Pool (2,048,489) (71,848) 1,145,007 1,671,467 Equity Pool 420,386 1,181,273 1,609,694 238,065 International Equity Funds - (56,071) 148,563 19,811 Real Estate (300,000) - (250,000) - ----------- ---------- ---------- ---------- Total $(2,128,447) $1,084,698 $4,219,089 $1,946,218 =========== ========== ========== ==========
-6- 9 (4) INCOME TAX STATUS: The Company received a determination letter from the Internal Revenue Service, dated February 4, 1987, confirming that the Plan, as amended, is exempt from federal income taxes under Sections 401(a) and 501(a) of the Internal Revenue Code. The Company amended and restated the Plan effective April 1, 1989. The Company has submitted the amended and restated Plan to the Internal Revenue Service seeking approval that the Plan meets the requirements of the Tax Reform Act of 1986. Management expects to receive a favorable determination letter in due course. (5) ASSETS HELD FOR INVESTMENT: The fair market value of the following investments represented 5% or more of the Plan's net assets available for plan benefits at March 31, 1994 and 1993:
1994 1993 ----------- ----------- Centex Common Stock $ 7,452,731 $ 6,514,438 Equity Pool 21,662,869 14,041,043 Fixed Income Pool 72,410,000 62,376,656
(6) SUBSEQUENT EVENTS: In April, 1994, Centex Construction Products, Inc. (CXP), a subsidiary of the Company, completed an Initial Public Offering of 51% of its common stock. CXP comprises the operations that were previously the Construction Products segment of the Company. Centex owns 49% of CXP, which is now a New York Stock Exchange Company. During fiscal 1995, the balances of CXP employees will be transferred from the Plan to the newly formed Profit Sharing and Retirement Plan of Centex Construction Products, Inc. (the "CXP Plan"), which will offer these funds: Balanced, Fixed Income, Centex stock (frozen at the 3/31/94 level), and CXP stock. The balanced and fixed income funds of the CXP Plan will invest in the same equity and fixed income pools as the Plan. The CXP Plan has adopted investment guidelines comparable to those of the Plan. -7- 10 (7) INVESTMENT IN POOLED ASSETS: During the Plan year ended March 31, 1994, the majority of Plan assets was invested in two pools of investments, the Fixed Income Pool and the Equity Pool. The following is a summary of total assets of the two investment pools at fair market value as of March 31, 1994 and 1993:
1994 1993 ----------------------------------- ----------------------------------- Fixed Income Equity Fixed Income Equity ------------ ----------- ------------ ----------- Interest-bearing cash accounts $ 5,991,894 $ - $ 5,843,643 $ 46,431 Corporate bonds 23,197,262 - 19,302,999 - U.S. government securities 46,065,069 - 38,444,736 - Domestic mutual funds: Accel Fund - 3,041,099 - 2,691,250 Acorn Fund - 2,799,717 - 1,870,292 Dietche & Field Fund - Common - 2,726,663 - 2,488,798 New York Venture Fund Incorporated - 2,749,630 - 2,710,785 The Regis Fund Inc. - C&B Equity Portfolio, Common - 2,491,949 - 2,457,438 Washington Mutual Investors Fund Inc. - 2,810,830 - 2,616,604 International mutual funds: T. Rowe Price Foreign Equity Fund - 2,945,801 - - Templeton Institutional Funds - 3,001,199 - - Accrued investment income (loss), pending sales and purchases, net (1,174,268) 101,848 887,612 38 ----------- ----------- ----------- ----------- $74,079,957 $22,668,736 $64,478,990 $14,881,636 =========== =========== =========== ===========
-8- 11 The Plan's Trustee has determined the Plan's approximate undivided interests in the two investment pools as of March 31, 1994 and 1993, are as follows:
1994 1993 ------ ------ Fixed Income 97.75% 96.74% Equity 95.56% 94.35%
(8) ASSET INFORMATION CERTIFIED BY TRUSTEE: As of March 31, 1993, and for the year then ended, the Trustee has certified that the information submitted to the Committee for inclusion in the accompanying Statement of Net Assets Available for Plan Benefits, Statement of Changes in Net Assets Available for Plan Benefits, and Schedules I and II, is complete and accurate. (9) STATEMENTS BY FUND: Following is a presentation by fund of the Statements of Net Assets Available for Plan Benefits and the Statements of Changes in Net Assets Available for Plan Benefits for the years ended March 31, 1994 and 1993. -9- 12 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES FOOTNOTE (9) STATEMENT OF NET ASSETS AVAILABLE CONTINUED FOR PLAN BENEFITS BY FUND AS OF MARCH 31, 1994
BALANCED FIXED INCOME FUND FUND CCSF TOTAL ----------- ------------ ---------- ------------ ASSETS: Investments, at Fair Market Value - Interest-bearing cash accounts $ 303,344 $ 261,616 $ 67,308 $ 632,268 Centex common stock - - 7,452,731 7,452,731 Real estate 338,620 301,540 - 640,160 Equity Pool 21,662,869 - - 21,662,869 Fixed Income Pool 33,222,318 39,187,682 - 72,410,000 ----------- ----------- ---------- ------------ Total Investments 55,527,151 39,750,838 7,520,039 102,798,028 ----------- ----------- ---------- ------------ Receivables - Company contributions 4,921,791 4,256,132 641,688 9,819,611 Participant notes receivable 556,905 - - 556,905 Receivable from (payable to) other funds 63,860 (52,026) (11,834) - (Payable to) receivable from Trustee and other (434) 2,997 (44,081) (41,518) ----------- ----------- ---------- ------------ Total Receivables 5,542,122 4,207,103 585,773 10,334,998 ----------- ----------- ---------- ------------ NET ASSETS AVAILABLE FOR PLAN BENEFITS $61,069,273 $43,957,941 $8,105,812 $113,133,026 =========== =========== ========== ============
-10- 13 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES FOOTNOTE (9) STATEMENT OF CHANGES IN NET ASSETS CONTINUED AVAILABLE FOR PLAN BENEFITS BY FUND AS OF MARCH 31, 1994
BALANCED FIXED INCOME FUND FUND CCSF TOTAL ----------- ------------ ---------- ------------ ADDITIONS TO NET ASSETS: Company contributions $ 4,921,791 $ 4,256,132 $ 641,688 $ 9,819,611 Participant contributions 4,944,476 3,101,516 624,222 8,670,214 Interest and dividends 2,264,412 2,258,411 50,037 4,572,860 Net change in fair market value of investments - Realized 1,090,373 (36,817) 31,142 1,084,698 Unrealized (651,762) (1,277,140) (199,545) (2,128,447) Transfers from other funds 2,373,222 62,160 276,745 2,712,127 ----------- ----------- ----------- ------------ Total additions 14,942,512 8,364,262 1,424,289 24,731,063 ----------- ----------- ----------- ------------ DEDUCTIONS FROM NET ASSETS: Benefits paid to participants 2,769,379 3,327,807 375,087 6,472,273 Transfers to other funds 391,460 2,097,921 - 2,489,381 Administrative expenses 83,019 70,990 9,959 163,968 Reimbursement from Centex Corporation of certain investment and administrative expenses (133,000) (117,000) - (250,000) ----------- ----------- ----------- ------------ Total deductions 3,110,858 5,379,718 385,046 8,875,622 ----------- ----------- ----------- ------------ NET INCREASE IN NET ASSETS AVAILABLE FOR PLAN BENEFITS 11,831,654 2,984,544 1,039,243 15,855,441 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 49,237,619 40,973,397 7,066,569 97,277,585 ----------- ----------- ----------- ------------ End of year $61,069,273 $43,957,941 $ 8,105,812 $113,133,026 =========== =========== =========== ============
-11- 14 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES FOOTNOTE (9) STATEMENT OF NET ASSETS AVAILABLE CONTINUED FOR PLAN BENEFITS BY FUND AS OF MARCH 31, 1993
BALANCED FIXED INCOME FUND FUND CCSF TOTAL ----------- ------------ ---------- ----------- ASSETS: Investments, at Fair Market Value - Interest-bearing cash accounts $ 141,413 $ 109,870 $ 44,295 $ 295,578 Centex common stock - - 6,514,438 6,514,438 Real estate 494,719 439,960 - 934,679 Group annuity contracts 1,887,488 - - 1,887,488 International equity funds 2,179,276 - - 2,179,276 Equity Pool 14,041,043 - - 14,041,043 Fixed Income Pool 25,871,696 36,504,960 - 62,376,656 ----------- ----------- ---------- ----------- Total Investments 44,615,635 37,054,790 6,558,733 88,229,158 ----------- ----------- ---------- ----------- Receivables - Company contributions 4,136,054 3,989,988 498,221 8,624,263 Participant notes receivable 410,056 - - 410,056 Receivable from (payable to) other funds 73,994 (72,910) (1,084) - Receivable from Trustee and other 1,880 1,529 10,699 14,108 ----------- ----------- ---------- ----------- Total Receivables 4,621,984 3,918,607 507,836 9,048,427 ----------- ----------- ---------- ----------- NET ASSETS AVAILABLE FOR PLAN BENEFITS $49,237,619 $40,973,397 $7,066,569 $97,277,585 =========== =========== ========== ===========
-12- 15 PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES FOOTNOTE (9) STATEMENT OF CHANGES IN NET ASSETS CONTINUED AVAILABLE FOR PLAN BENEFITS BY FUND AS OF MARCH 31, 1993
BALANCED FIXED INCOME FUND FUND CCSF TOTAL ----------- ------------ ----------- ----------- ADDITIONS TO NET ASSETS: Company contributions $ 4,123,167 $ 3,976,669 $ 496,641 $ 8,596,477 Participant contributions 3,133,800 2,668,333 393,474 6,195,607 Interest and dividends 2,038,676 2,370,850 42,405 4,451,931 Net change in fair market value of investments - Realized 943,044 986,299 16,875 1,946,218 Unrealized 2,082,379 570,885 1,565,825 4,219,089 Transfers from other funds 1,682,484 - 554,108 2,236,592 ----------- ----------- ----------- ----------- Total additions 14,003,550 10,573,036 3,069,328 27,645,914 ----------- ----------- ----------- ----------- DEDUCTIONS FROM NET ASSETS: Benefits paid to participants 2,443,594 4,436,657 514,980 7,395,231 Transfers to other funds 329,721 1,832,889 - 2,162,610 Administrative expenses 83,681 71,694 9,874 165,249 Reimbursement from Centex Corporation of certain investment and administrative expenses (133,000) (117,000) - (250,000) ----------- ----------- ----------- ----------- Total deductions 2,723,996 6,224,240 524,854 9,473,090 ----------- ----------- ----------- ----------- NET INCREASE IN NET ASSETS AVAILABLE FOR PLAN BENEFITS 11,279,554 4,348,796 2,544,474 18,172,824 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 37,941,808 36,624,735 4,538,218 79,104,761 ----------- ----------- ----------- ----------- End of year $49,221,362 $40,973,531 $ 7,082,692 $97,277,585 =========== =========== =========== ===========
-13- 16 SCHEDULE I PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF MARCH 31, 1994 EIN: 75-0778259
(a) (b) (c) (d) (e) PARTY-IN- IDENTITY OF CURRENT INTEREST ISSUER DESCRIPTION COST VALUE --------- ------------------------ ------------------------------------- ----------- ------------ * Texas Commerce Bank, N.A Interest Bearing Cash Account, 3.77% $ 632,268 $ 632,268 * Centex Corporation Common Stock; 241,384 Shares at Par $.25 7,651,786 7,452,731 N/A A 100% interest in 108 acres of undeveloped land in Denton County, TX 738,018 640,160 * Texas Commerce Bank, N.A. Equity Pool 17,813,415 21,662,869 * Texas Commerce Bank, N.A. Fixed Income Pool 71,185,800 72,410,000 ----------- ------------ Totals $98,021,287 $102,798,028 =========== ============
* in column (a) indicates that each identified person/entity is known to be a party-in-interest. This supplemental schedule lists assets held for investment purposes at March 31, 1994, as required by the Department of Labor Rules and Regulations for Reporting and Disclosure. -14- 17 SCHEDULE II PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION - SALARIED EMPLOYEES ITEM 27d SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED MARCH 31, 1994 EIN: 75-0778259
(a) (b) (c) (d) (g) (h) (i) CURRENT VALUE OF ASSET ON DESCRIPTION PURCHASE SELLING COST OF TRANSACTION NET IDENTITY OF PARTY INVOLVED OF ASSET PRICE PRICE ASSET DATE GAIN --------------------------- --------------------- ----------- ----------- ----------- ----------- ------ INDIVIDUAL TRANSACTIONS: None SERIES OF TRANSACTIONS: Texas Commerce Bank, N.A. Interest Bearing Cash Account $ - $21,840,093 $21,840,093 $21,840,093 $ - Interest Bearing Cash Account 21,499,903 - - 21,499,903 - Fixed Income Pool 15,264,633 - - 15,264,633 -
Categories (e) Lease Rental and (f) Expense incurred with Transaction do not apply to any of these transactions. This supplemental schedule lists individual and series of transactions in excess of 5% of the fair market value of Master Trust assets at the beginning of the year as required by the Department of Labor Rules and Regulations for Reporting and Disclosure. -15- 18 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee which administers the Amended and Restated Profit Sharing and Retirement Plan of Centex Corporation has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized. AMENDED AND RESTATED PROFIT SHARING AND RETIREMENT PLAN OF CENTEX CORPORATION Date: September 23, 1994 By: /s/ Michael S. Albright ------------------ ----------------------- Michael S. Albright Plan Administrator 19 INDEX TO EXBITS Amended and Restated Profit Sharing and Retirement Plan of Centex Corporation Centex Corporation 3333 Holding Corporation Centex Development Company, L.P.
Exhibit Sequentially Number Description of Exhibits Numbered Page ------- ----------------------- ------------- 23* Consent of Arthur Andersen LLP
_______________________ *Filed herewith, E-1 EX-23 2 CONSENT OF ARTHUR ANDERSEN, LLP 1 EXHIBIT 23 Amended and Restated Profit Sharing and Retirement Plan of Centex Corporation Centex Corporation 3333 Holding Corporation Centex Development Company, L.P. CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference of our report dated September 13, 1994,included in this Form 11-K for the years ended March 31, 1994 and 1993, into Registration Statement on Form S-8 No. 33-55083, filed by Centex Corporation, 3333 Holding Corporation, and Centex Development Company, L.P. ARTHUR ANDERSEN LLP Dallas, Texas, September 23, 1994 E-2 -----END PRIVACY-ENHANCED MESSAGE-----