-----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, JuzG+tryPlIDMOacq/16mzdElDuG+pOyXLYxK2ne93sxnq0SWG9X/u/vu0zPHgJG 4Zh+M96/bz4JjEWPOTP5oA== 0000859119-94-000017.txt : 19940705 0000859119-94-000017.hdr.sgml : 19940705 ACCESSION NUMBER: 0000859119-94-000017 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19931231 FILED AS OF DATE: 19940628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ILLINOIS CENTRAL CORP CENTRAL INDEX KEY: 0000859119 STANDARD INDUSTRIAL CLASSIFICATION: 4011 IRS NUMBER: 133545405 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10720 FILM NUMBER: 94536282 BUSINESS ADDRESS: STREET 1: 455 N CITYFRONT PLZ DR CITY: CHICAGO STATE: IL ZIP: 60611-5504 BUSINESS PHONE: 3127557500 MAIL ADDRESS: STREET 2: 455 NORTH CITYFRONT PLAZA DR CITY: CHICAGO STATE: IL ZIP: 60611 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------------------- FORM 11-K (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, 1993 ( ) 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 1-10720 ___________________________________________________ ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN 455 North Cityfront Plaza Drive Chicago, Illinois 60611-5504 (Title and Address of the Plan) ILLINOIS CENTRAL CORPORATION 455 North Cityfront Plaza Drive Chicago, Illinois 60611-5504 (Issuer and Address of Principal Executive Offices) SIGNATURES THE PLAN. 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. ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN Date: June 28, 1994 /s/ Dale W. Phillips ------------------------------------------ Dale W. Phillips Member Administrative Committee 2 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN FORM 11-K Financial Statements and Schedules Years Ended December 31, 1993 and 1992 F-1 ILLINOIS CENTRAL CORPORATION Supplemental Retirement and Savings Plan INDEX TO FINANCIAL STATEMENTS, SCHEDULES AND EXHIBITS
Financial Statements and Schedules: Independent Auditors' Report................................... F-3 Statements of Financial Position as of December 31, 1993 and 1992................................... F-4 to F-5 Statements of Income and Changes in Plan Equity for the years ended December 31, 1993 and 1992................... F-6 to F-7 Notes to Financial Statements.................................. F-8 to F-11 Schedule I - Assets Held For Investment Purposes at December 31, 1993......................................... F-12 to F-18 Schedule II - Reportable Transactions for the year ended December 31, 1993................................. F-19 to F-20 Exhibit: Exhibit 23: Independent Auditors' Consent...................... E-1
F-2 Independent Auditors' Report The Administrative Committee Illinois Central Corporation Supplemental Retirement and Savings Plan: We have audited the accompanying statements of financial position of Illinois Central Corporation Supplemental Retirement and Savings Plan as of December 31, 1993 and 1992, and the related statements of income and changes in plan equity 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 the Plan's 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 financial position of Illinois Central Corporation Supplemental Retirement and Savings Plan as of December 31, 1993 and 1992, and the results of its operations and the changes in its plan equity for the years then ended in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions as of and for the year ended December 31, 1993 are presented for the purpose 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 fund information in the statements of financial position and the statements of income and changes in plan equity is presented for purposes of additional analysis rather than to present the financial position and results of operations and changes in plan equity of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ KPMG PEAT MARWICK Chicago, Illinois June 13, 1994 F-3 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN STATEMENT OF FINANCIAL POSITION DECEMBER 31, 1993
Investment Funds ----------------------------------------------------------------------------- Illinois Central Corp. Whitman Pet Total Stock Fund Stock Fund Stock Fund Diversified Fixed Balanced ----------- ---------- ---------- ---------- ----------- ----------- ---------- Assets: Investment at Fair Value $46,967,021 $7,224,723 $ 0 $ 0 $8,374,628 $28,726,162 $2,641,508 Dividends Receivable 48,339 42,054 0 0 6,285 0 0 Accrued Interest Receivable 63,552 50 0 0 2,266 61,216 20 Income Receivable (3,750) 0 0 0 (3,750) 0 0 Contribution Receivable Employer 22,911 4,446 0 0 5,747 10,832 1,886 Employee 68,865 13,043 0 0 17,530 32,431 5,861 Cash and Cash Equivalents 891,573 11 0 0 891,521 41 0 ----------- ---------- ------ ------ ---------- ----------- ---------- Total Assets $48,058,511 $7,284,327 $ 0 $ 0 $9,294,227 $28,830,682 $2,649,275 =========== ========== ====== ====== ========== =========== ========== Liabilities and Plan Equity: Liabilities: Distributions Payable to Participants $ 359,075 $ 6,539 $ 0 $ 0 $ 2,637 $ 349,899 $ 0 Accrued Expenses 8,917 1,266 0 0 1,774 5,387 490 Interfund Transfers 0 (9,527) 0 0 3,101 0 6,426 ----------- ---------- ------ ------ ---------- ----------- ---------- Total Liabilities 367,992 (1,722) 0 0 7,512 355,286 6,916 Plan Equity 47,690,519 7,286,049 0 0 9,286,715 28,475,396 2,642,359 ----------- ---------- ------ ------ ---------- ----------- ---------- Total Liabilities and Plan Equity $48,058,511 $7,284,327 $ 0 $ 0 $9,294,227 $28,830,682 $2,649,275 =========== ========== ====== ====== ========== =========== ==========
See accompanying Notes to Financial Statements. F-4 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN STATEMENT OF FINANCIAL POSITION DECEMBER 31, 1992
Investment Funds -------------------------------------------------------------------------------------- Ilinois Central Corp. Whitman Pet Total Stock Fund Stock Fund Stock Fund Diversified Fixed Balanced ----------- ---------- ---------- ---------- ----------- ----------- ---------- Assets: Investment at Fair Value $38,288,466 $2,132,285 $4,051,132 $5,052,026 $ 0 $25,224,021 $1,829,002 Securities Sold Receivable 7,655,656 0 0 0 7,655,656 0 0 Dividends Receivable 51,631 12,977 17,852 20,802 0 0 0 Accrued Interest Receivable 248 20 34 11 47 118 18 Contribution Receivable: Employer 20,958 2,852 0 0 4,646 10,825 2,635 Employee 62,401 8,527 0 0 14,433 31,754 7,687 Cash and Cash Equivalents 4,177 8 2,952 909 0 308 0 ----------- ---------- ---------- ---------- ---------- ----------- ---------- Total Assets $46,083,537 $2,156,669 $4,071,970 $5,073,748 $7,674,782 $25,267,026 $1,839,342 =========== ========== ========== ========== ========== =========== ========== Liabilities and Plan Equity: Liabilities: Distributions Payable to Participants $ 1,280,343 $ 0 $ 372,265 $ 440,611 $ 287,830 $ 178,137 $ 1,500 Accrued Expenses 23,465 1,066 1,998 2,852 3,768 12,867 914 ----------- ---------- ---------- ---------- ---------- ----------- ---------- Total Liabilities 1,303,808 1,066 374,263 443,463 291,598 191,004 2,414 Plan Equity 44,779,729 2,155,603 3,697,707 4,630,285 7,383,184 25,076,022 1,836,928 ----------- ---------- ---------- ---------- ---------- ----------- ---------- Total Liabilities and Plan Equity $46,083,537 $2,156,669 $4,071,970 $5,073,748 $7,674,782 $25,267,026 $1,839,342 =========== ========== ========== ========== ========== =========== ==========
See accompanying Notes to Financial Statements. F-5 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY YEAR ENDED DECEMBER 31, 1993
Investment Funds -------------------------------------------------------------------------------- Illinois Central Corp. Whitman Pet Total Stock Fund Stock Fund Stock Fund Diversified Fixed Balanced ---------- ----------- ---------- ----------- ----------- ---------- --------- Investment Income: Dividends $ 470,616 $ 112,430 $ 22,989 $ 27,022 $ 308,175 $ 0 $ 0 Interest 1,914,066 1,440 597 829 51,713 1,859,213 274 Net Realized Gain (Loss) (837,077) 12,225 (173,991) (338,753) (360,201) 0 23,643 Net Unrealized Gain (Loss) 3,010,999 1,897,002 0 0 846,722 0 267,275 ----------- ---------- ----------- ----------- ---------- ----------- ---------- 4,558,604 2,023,097 (150,405) (310,902) 846,409 1,859,213 291,192 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Contributions: Participants 1,489,007 239,017 0 0 367,194 752,743 130,053 Employers 937,834 142,254 0 0 228,980 488,048 78,552 Rollover 471,028 336,114 0 0 4,317 7,680 122,917 ----------- ---------- ----------- ----------- ---------- ----------- ---------- 2,897,869 717,385 0 0 600,491 1,248,471 331,522 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Total Additions 7,456,473 2,740,482 (150,405) (310,902) 1,446,900 3,107,684 622,714 Less: Participants' Distributions (4,311,040) (328,646) (454,258) (529,186) (362,138) (2,569,014) (67,798) Administrative Expenses (234,643) (11,669) (2,367) (3,294) (77,155) (107,733) (32,425) Interfund Transfers 0 2,730,279 (3,090,677) (3,786,903) 895,924 2,968,437 282,940 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Total Deductions (4,545,683) 2,389,964 (3,547,302) (4,319,383) 456,631 291,690 182,717 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Net Changes During Period 2,910,790 5,130,446 (3,697,707) (4,630,285) 1,903,531 3,399,374 805,431 Plan Equity: At December 31, 1992 44,779,729 2,155,603 3,697,707 4,630,285 7,383,184 25,076,022 1,836,928 ----------- ---------- ----------- ----------- ---------- ----------- ---------- At December 31, 1993 $47,690,519 $7,286,049 $ 0 $ 0 $9,286,715 $28,475,396 $2,642,359 =========== ========== =========== =========== ========== =========== ==========
See accompanying Notes to Financial Statements. F-6 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY YEAR ENDED DECEMBER 31, 1992
Investment Funds ----------------------------------------------------------------------------- Illinois Central Corp. Whitman Pet Total Stock Fund Stock Fund Stock Fund Diversified Fixed Balanced ------------- ---------- ----------- ----------- ----------- ---------- ---------- Investment Income: Dividends $ 689,280 $ 32,403 $ 81,369 $ 85,148 $ 490,347 $ 0 $ 13 Interest 1,919,860 538 1,403 2,049 499 1,915,134 237 Net Realized Gain (Loss) (595,886) (4,409) 48,597 (633,645) (32,089) 0 25,660 Net Unrealized Gain (Loss) (650,789) 188,006 354,688 (1,808,157) 619,718 0 (5,044) ----------- ---------- ----------- ----------- ---------- ----------- ---------- 1,362,465 216,538 486,057 (2,354,605) 1,078,475 1,915,134 20,866 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Contributions: Participants 1,359,642 162,003 0 0 325,938 717,374 154,327 Employers 876,414 98,719 0 0 221,878 470,862 84,955 Rollover 128,568 56,412 0 0 2,573 11,921 57,662 ----------- ---------- ----------- ----------- ---------- ----------- ---------- 2,364,624 317,134 0 0 550,389 1,200,157 296,944 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Total Additions 3,727,089 533,672 486,057 (2,354,605) 1,628,864 3,115,291 317,810 Less: Participants' Distributions (3,597,699) (14,954) (639,936) (855,897) (636,160) (1,370,785) (79,967) Administrative Expenses (200,706) (4,182) (15,150) (22,624) (23,045) (110,676) (25,029) Interfund Transfers 0 997,555 (1,296,019) (1,355,391) 121,280 976,220 556,355 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Total Deductions (3,798,405) 978,419 (1,951,105) (2,233,912) (537,925) (505,241) 451,359 ----------- ---------- ----------- ----------- ---------- ----------- ---------- Net Changes During Period (71,316) 1,512,091 (1,465,048) (4,588,517) 1,090,939 2,610,050 769,169 Plan Equity: At December 31, 1991 44,851,045 643,512 5,162,755 9,218,802 6,292,245 22,465,972 1,067,759 ----------- ---------- ----------- ----------- ---------- ----------- ---------- At December 31, 1992 $44,779,729 $2,155,603 $ 3,697,707 $ 4,630,285 $7,383,184 $25,076,022 $1,836,928 =========== ========== =========== =========== ========== =========== ==========
See accompanying Notes to Financial Statements. F-7 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1993 AND 1992 (1) DESCRIPTION OF PLAN The following brief description of the Illinois Central Corporation Supplemental Retirement and Savings Plan (the Plan) provides only general information. Participants should refer to the summary plan description for a more complete description of the Plan's provisions. GENERAL The Plan was established effective January 1, 1989 and replaced the Supplemental Retirement and Savings Plan for Whitman Corporation (Predecessor Plan) for the benefit of eligible employees of Illinois Central Railroad Company (the Company) as a result of Whitman Corporation's spin-off of the common stock of Illinois Central Transportation Company (ICTC) to its shareholders. The Company is the surviving corporation in the merger of ICTC into the Company. The Plan covers all full-time, salaried, non-union employees of the Company. Full-time eligible employees may participate on the first day of the calendar month coinciding with or next following the first day of employment. Part-time eligible employees may participate once they have completed certain employment requirements. A Yardmaster or Dispatcher employed by the Company is only entitled to participate with respect to the Employer Supplemental Contributions. This Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). CONTRIBUTIONS Participants, except Yardmasters and Dispatchers, may elect to make contributions to the Plan through periodic payroll deductions in amounts ranging from 2% to 15% of each participant's base salary, in 1% increments. The total pre-tax contributions by a participant are limited to the lesser of $8,994 in 1993 and $8,728 in 1992 (subject to adjustments to reflect changes in the cost of living pursuant to Section 402(g) of the Internal Revenue Code) or 15% of the participant's salary during any calendar year. Contributions to the Plan on behalf of the participants are made by the Company in lieu of an equal amount of salary. The Company contributes an amount equal to 50% of each participant's contributions up to the first 6% of salary (a maximum Company contribution of 3% of salary). In addition, the Company makes supplemental contributions of 2% of salary on behalf of all eligible employees of the Company including Yardmasters and Dispatchers, whether they contribute to the Plan or not. F-8 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS - CONTINUED INVESTMENT OF CONTRIBUTIONS The Plan permits participants to invest their own contributions, the Company's matching and the supplemental contributions in the following investment funds: the Illinois Central Corporation Stock Fund, the Diversified Fund, the Fixed Fund and the Balanced Fund. Participants may choose to invest in one or more funds in multiples of 10%. Prior to January 1, 1993, the Diversified Fund invested in the Windsor Investment Fund managed by the Vanguard Group of investment companies. The investment in the Windsor Fund was sold on December 31, 1992 and was reflected as a receivable in the December 31, 1992 financial statements. Beginning January 1, 1993, the Diversified Fund invests in an investment fund managed by Sirach. The fund is primarily invested in common stocks. The Fixed Fund invests in the LaSalle National Pooled Investment Fund and annuity contracts issued by John Hancock Mutual Life Insurance Company. The Balanced Fund is managed by Equity Capital Management Corporation and invests in the Equitable Investment Fund, which invests in common stocks and other equity- type securities, longer term fixed income securities, publicly traded debt securities and short term money market instruments. Effective March 31, 1991, Whitman Corporation spun-off to its shareholders its subsidiary, Pet, Inc. At that time, the Plan was amended to establish a closed fund to accept Pet shares issued at the time of the spin-off. Participants were not permitted to make additional contributions to this fund nor the Whitman Stock Fund. On July 1, 1993, the Whitman and Pet stock funds were liquidated and participants elected a transfer to any of the other funds. Participants who did not elect a transfer had their Whitman and Pet balances transferred to the Illinois Central Corporation Stock Fund. PARTICIPANT ACCOUNTS Each participant's account is credited with the participant's contributions, all of the Company's contributions, and an allocation of earnings. Allocated earnings are based on the participant's account balances at the time of allocation. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. VESTING Participants are immediately vested 100% in the entire amount in their account. F-9 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS - CONTINUED PAYMENT OF BENEFITS On termination of service, a participant may elect to receive the value of his or her account in either a lump-sum payment, in annual installments over a period of up to 15 years, or in the form of an immediate or deferred annuity. EXPENSES Administrative expenses for maintenance of Plan financial records, participant statements, service fees on insurance contracts, trustee fees, and accounting fees are paid from Plan assets. All other administrative expenses of the Plan are paid by the Company. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Investment are stated at fair value. Quoted market prices are used to value the stock and mutual funds. The fixed income fund is valued at cost plus accumulated interest, which approximates market. Purchases and sales of securities are recorded on a trade-date basis. The Plan considers all highly liquid debt instruments purchased with a maturity of 3 months or less to be cash equivalents. (3) FEDERAL INCOME TAXES The Plan has received a favorable determination letter from the Internal Revenue Service, dated January 4, 1990, indicating that it is qualified under Section 401(a) of the Internal Revenue Code and therefore the related trust is exempt from tax under Section 501(a) of the Code. The Plan Administrator is not aware of any activity or transactions that may adversely affect the qualified status of the Plan. F-10 ILLINOIS CENTRAL CORPORATION SUPPLEMENTAL RETIREMENT AND SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS - CONTINUED (4) INVESTMENTS Except for its Balanced Fund, and Fixed Fund, the Plan's investments are held by Continental Illinois National Bank, Trustee of the Plan. The following table presents the fair values of the Plan's investments.
December 31, 1993 December 31, 1992 --------------------- --------------------- Number Fair Number Fair of Shares Value of Shares Value --------- ---------- --------- ---------- Investments at Fair Value as Determined by Quoted Market Price: Illinois Central Corporation Stock Fund........................... 201,386 7,224,723 87,032 $2,132,285 Whitman Stock Fund................... 0 0 274,653 4,051,132 Pet Stock Fund....................... 0 0 297,178 5,052,026 Sirach Diversified Fund.............. 271,481 8,374,628 0 0 Investments at cost plus accumulated interest, which approximates fair value: LaSalle National Pooled Income Fund................................ N/A 19,553,599 N/A $9,438,118 John Hancock GAC# 5765.............. N/A 0 N/A 6,580,160 John Hancock GAC# 6096.............. N/A 9,172,563 N/A 9,205,743 Investments at Fair Value as Determined by Estimated Market Price: Equitable Balanced Fund.............. 30,770 2,641,508 24,098 1,829,002
F-11 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - -------------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - -------------------------------------------------------------------------- ABBOTT LABS COM 4,000.00 109,000.00 118,500.00 ALLIEDSIGNAL INC COM FORMERLY ALLIED SIGNAL 2,000.00 125,275.00 158,000.00 AMERICAN BARRICK RES CORP COM 4,000.00 58,300.00 113,500.00 AMERICAN PWR CONVERSION CORP COM 2,000.00 41,750.00 47,500.00 ARROW ELECTRS INC COM 3,000.00 101,531.25 125,250.00 CBS INC COM 300.00 88,500.00 86,550.00 CENTEX CORP COM 4,000.00 135,812.50 168,000.00 CENTRAL & SOUTH WEST CORP COM 5,000.00 163,625.00 151,250.00 CHEVRON CORP COM 2,000.00 168,562.50 174,250.00 CHRYSLER CORP COM 3,000.00 139,375.00 159,750.00
See accompanying independent auditors' report. F-12 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - -------------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - -------------------------------------------------------------------------- CITICORP COM 3,500.00 119,625.00 129,062.50 COMPUTER ASSOC INTL INC COM 4,000.00 134,437.50 160,000.00 DANA CORP COM 2,000.00 109,000.00 119,750.00 DEERE & CO COM 1,500.00 105,875.00 111,000.00 ECHLIN INC COM 4,400.00 112,043.30 146,300.00 EL PASO NAT GAS CO COM NEW 4,500.00 148,875.00 162,000.00 ENRON CORP COM 6,000.00 140,700.00 174,000.00 ENTERGY CORP COM 4,000.00 140,750.00 144,000.00 (C29364G103) EQUITABLE FDS BALANCED FD 30,770.34 2,126,426.26 2,641,508.02 ERICSSON L M TEL CO ADR CL B SEK 10 1,600.00 70,637.50 64,600.00
See accompanying independent auditors' report. F-13 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - ---------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - ---------------------------------------------------------------------- EXXON CORP COM 1,700.00 113,387.50 107,312.50 FEDERAL EXPRESS CORP COM 900.00 63,900.00 63,787.50 FED NATL MTG ASSN COM 1,500.00 116,500.00 117,750.00 FIRST DATA CORP COM 3,000.00 102,550.00 122,250.00 FIRST FINL MGMT CORP COM 3,000.00 134,675.00 170,250.00 FORD MTR CO DEL COM 700.00 43,925.00 45,150.00 FRANKLIN RES INC COM 3,000.00 125,375.00 137,625.00 GENENTECH INC COM REDEEMABLE 1,000.00 47,000.00 50,500.00 GENERAL INSTR CORP NEW COM 1,000.00 36,875.00 56,500.00 GENERAL MTRS CORP CL H 1,200.00 46,800.00 46,800.00
See accompanying independent auditors' report. F-14 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - ------------------------------------------------------------------------ PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - ------------------------------------------------------------------------ GOODYEAR TIRE & RUBR CO COM 2,000.00 85,187.50 91,500.00 HASBRO INC COME 2,000.00 72,000.00 72,500.00 ILLINOIS CENT CORP COM SER A 201,386.00 4,860,026.58 7,224,722.74 LILLY ELI & CO COM 1,000.00 57,750.00 59,375.00 LORAL CORP COM 1,500.00 54,868.50 56,625.00 MCCAN CELLULAR COMMUNICATIONS INC CL A 1,900.00 79,043.60 95,950.00 MERRILL LYNCH & CO INC COM 1,000.00 34,562.50 42,000.00 MICRON TECHNOLOGY INC COM 1,000.00 51,375.00 46,500.00 NORWEST CORP COM 4,000.00 84,300.00 97,500.00 PACTEL CORP COM 2,000.00 50,000.00 49,750.00 PENNEY J C INC COM 3,500.00 144,611.25 184,187.50
See accompanying independent auditors' report. F-15 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - ------------------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - ------------------------------------------------------------------------------- PERRIGO CO COM 5,000,00 106,750.00 171,250.00 PRICE/COSTCO INC COM 5,000.00 92,750.00 96,250.00 PRIMERICA CORP NEW COM N/C TRAVELERS INC COM SEE CUSIP #894190107 4,000.00 97,800.00 155,500.00 PROGRESSIVE CORP OHIO COM 3,000.00 87,450.00 121,500.00 REGIS FD INC SPL EQUITY PORTFOLIO 113,881.26 1,863,505.90 1,932,565.13 SCHERING PLOUGH CORP COM 2,800.00 187,050.00 191,800.00 SENSORMATIC ELECTRS CORP COM 6,000.00 152,000.00 207,750.00 SHAM INDS INC 2,000.00 47,500.00 51,000.00 SOUTHWESTERN BELL CORP COM 4,500.00 167,100.00 186,750.00
See accompanying independent auditors' report. F-16 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - --------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - --------------------------------------------------------------------- SPRINT CORP COM 3,500.00 108,500.00 121,625.00 STANDARD FED BK TROY MICH COM 4,000.00 94,000.00 120,000.00 SUPERIOR INDUS INTL INC COM 1,200.00 46,650.00 51,300.00 TEXAS INSTRS INC COM 2,100.00 137,162.50 133,350.00 TEXTRON INC COM 1,800.00 103,000.00 104,850.00 UNUM CORP COM 2,000.00 108,112.50 105,000.00 VODAFONE GROUP PLC SPONSORED ADR 1,100.00 88,761.20 98,175.00 WASHINGTON FEDERAL SVGS COM FORMERLY WASHINGTON FED SVGS & LN ASSN SEATTLE COM 5,900.00 150,100.00 154,138.50 WASHINGTON MUT SVGS BK SEATTLE COM 6,000.00 128,050.00 144,750.00
See accompanying independent auditors' report. F-17 SCHEDULE I ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1993
- - ---------------------------------------------------------------------------- PAR VALUE MARKET ASSET DESCRIPTION /SHARES COST VALUE - - ---------------------------------------------------------------------------- JOHN HANCOCK GAC #6096 DUE: 12/29/1996 9,172,563.00 9,172,563.00 9,172,563.00 LASALLE NATL POOLED INCOME 19,553,599.00 19,553,599.00 19,553,599.00 ------------- ------------- PLUS FUND TOTAL ASSETS Not Applicable $43,237,217.34 $46,967,021.39
See accompanying independent auditors' report. F-18 SCHEDULE II REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1993 Individual Transactions - - ----------------------------------------------------------------------------------------- SALE/PURCHASE NET GAIN/ SECURITY DESCRIPTION PRICE EXPENSES COST LOSS CURRENT VALUE - - ----------------------------------------------------------------------------------------- PURCHASES - - --------- CONTINENTAL SHORT-TERM INVESTMENT FUND 7,655.666.14 0.00 7,665,666.14 0.00 7,655,666.14 LASALLE NATIONAL POOLED INCOME PLUS 7,141,850.48 0.00 7,141,850.48 0.00 7,414,850.48
See accompanying independent auditors' report. F-19 SCHEDULE II (CONTINUED) REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1993 Series of Transactions - - --------------------------------------------------------------------------------------- SALE/PURCHASE NET GAIN/ SECURITY DESCRIPTION PRICE EXPENSES COST LOSS CURRENT VALUE - - --------------------------------------------------------------------------------------- SALES - - ----- ILLINOIS CENTRAL CORP COMMON SERIES A 124,306 206 99,058 25,023 124,306 PET INC. NEW COMMON 4,316,134 13,625 2,208,363 2,121,396 4,316,134 WHITMAN CORP COMMON 3,553,629 7,750 1,190,135 2,371,244 3,553,629 CONTINENTAL SHORT-TERM INVESTMENT FUND 19,734,279 0.00 18,734,279 0.00 19,734,279 LASALLE NATIONAL POOLED INCOME PLUS 1,762,418 0.00 1,762,418 0.00 1,762,418 PURCHASES - - --------- ILLINOIS CENTRAL CORP COMMON SERIES A 3,503,376 8,722 3,512,098 0.00 3,503,376 PET INC NEW COMMON 109,286 387 109,673 0.00 109,286 WHITMAN CORP COMMON 98,835 395 99,230 0.00 98,835 CONTINENTAL SHORT-TERM INVESTMENT FUND 20,625,126 0.00 20,625,126 0.00 20,625,126 LASALLE NATIONAL POOLED INCOME PLUS 11,877,898 0.00 11,877,898 0.00 11,877,898
See accompanying independent auditors' report. F-20 Exhibit 23 ---------- Independent Auditors' Consent The Board of Directors Illinois Central Corporation: We consent to incorporation by reference in Registration Statement No. 33-36765 on Form S-8 of Illinois Central Corporation of our report dated June 13, 1994, relating to the statements of financial condition of Illinois Central Corporation Supplemental Retirement and Savings Plan as of December 31, 1993 and 1992, and the related statements of income and changes in plan equity for the years then ended, which report appears in the December 31, 1993 annual report on Form 11-K of Illinois Central Corporation Supplemental Retirement and Savings Plan. /s/ KPMG Peat Marwick Chicago, Illinois June 27, 1994 E-1 June 28, 1994 Securities & Exchange Commission Division of Corporate Finance 450 Fifth Street, N.W. Judiciary Plaza Washington, DC 20549 RE: Form 11-K for the Illinois Central Corporation Supplemental Retirement and Savings Plan (File Number 1-10720) Gentlemen: Enclosed for filing pursuant to Section 15(d) of the Securities Exchange Act of 1934 in electronic format under EDGAR of the above mentioned Form 11-K for the fiscal year ended December 31, 1993. A manually signed copy has been sent to the New York Stock Exchange. Very truly yours, John V. Mulvaney Controller -----END PRIVACY-ENHANCED MESSAGE-----