-----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, U4YNe2/LQgkZeG7ekq9LelsN0iNdXvpz1NCDgw6OIjp2umyISRqTS1LF1tYBKJuw DvHWAC0smv8MKfGq0xA4VA== 0000094328-96-000010.txt : 19960629 0000094328-96-000010.hdr.sgml : 19960629 ACCESSION NUMBER: 0000094328-96-000010 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960627 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: STEWART & STEVENSON SERVICES INC CENTRAL INDEX KEY: 0000094328 STANDARD INDUSTRIAL CLASSIFICATION: ENGINES & TURBINES [3510] IRS NUMBER: 741051605 STATE OF INCORPORATION: TX FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11443 FILM NUMBER: 96587149 BUSINESS ADDRESS: STREET 1: 2707 N LOOP W CITY: HOUSTON STATE: TX ZIP: 77008 BUSINESS PHONE: 7138687700 MAIL ADDRESS: STREET 1: P O BOX 1637 CITY: HOUSTON STATE: TX ZIP: 77251-1637 11-K 1 11-K SECURITIES & 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, 1995 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from _______________ to _______________ Commission File number 0-8493 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: STEWART & STEVENSON 401(k) SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive offices: STEWART & STEVENSON SERVICES, INC. 2707 NORTH LOOP WEST HOUSTON, TEXAS 77008 FINANCIAL STATEMENTS In accordance with Item 4 of the Required Information for Form 11-K, the following statements of financial condition for the Stewart & Stevenson 401(k) Savings Plan have been prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. INDEX TO THE FINANCIAL STATEMENTS AND SCHEDULE Report of Independent Public Accountants Item 1. Statement of Net Assets Available for Benefits as of December 31, 1995 and 1994. Item 2. Statement of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1995 and 1994 Notes to Financial Statements Schedule I - Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1995 Schedule II - Item 27d - Schedule of Reportable Transactions for the Year Ended December 31, 1995 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Administrative Committee of the Stewart & Stevenson 401(k) Savings Plan: We have audited the accompanying statements of net assets available for benefits of the Stewart & Stevenson 401(k) Savings Plan as of December 31, 1995 and 1994, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements and the schedules referred to below are the responsibility of the Plan's administrator. Our responsibility is to express an opinion on these financial statements and schedules based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Stewart & Stevenson 401(k) Savings Plan as of December 31, 1995 and 1994, and the changes in its net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were 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 as of December 31, 1995, and reportable transactions for the year ended December 31, 1995, 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 schedules 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/ Arthur Anderson, LLP Houston, Texas June 21, 1996 STEWART & STEVENSON 401(k) SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1995 AND 1994
1995 1994 ------------- ------- ASSETS: Investments, at fair value (Schedule I)- Common stock of Stewart & Stevenson Services, Inc. $ 778,559 $ 326,391 Mutual funds 8,358,175 2,187,852 Money market funds 1,193,546 232,640 Participant loans 286,595 29,048 -------------- ------------ 10,616,875 2,775,931 Receivables- Employer contributions 15,487 10,200 Participant contributions 83,145 56,456 -------------- ------------ 98,632 66,656 -------------- ---------- Total assets 10,715,507 2,842,587 LIABILITIES: Other 145,108 264,914 - -------------- ------------ -------------- ---------- 145,108 264,914 -------------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $ 10,570,399 $ 2,577,673 ============= ===========
The accompanying notes are an integral part of these financial statements. STEWART & STEVENSON 401(k) SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1994
1995 1994 ----------- -------- ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income- Dividends $ 570,242 $ 50,679 Interest 11,340 22,110 Realized gain on sale of investments, net 67,565 - Unrealized appreciation in fair value of investments, net 449,926 - -------------- ------- Total investment income 1,099,073 72,789 Contributions- Employer 775,269 430,702 Participant 4,022,402 2,335,457 Participant rollovers 2,490,403 160,357 -------------- ------------ Total contributions 7,288,074 2,926,516 -------------- ------------ Total additions 8,387,147 2,999,305 -------------- ------------ DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Distributions to participants 381,017 293,827 Withdrawals 13,404 3,551 Realized loss on sale of investments, net - 4,034 Unrealized depreciation in fair value of investments, net - 120,220 -------------- ------------ Total deductions 394,421 421,632 -------------- ------------ NET INCREASE 7,992,726 2,577,673 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 2,577,673 - -------------- ----------- End of year $ 10,570,399 $ 2,577,673 ============= ===========
The accompanying notes are an integral part of these financial statements. STEWART & STEVENSON 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1. DESCRIPTION OF THE PLAN: General The Stewart & Stevenson 401(k) Savings Plan (the Plan), adopted effective January 1, 1994, is a trusted, defined contribution plan established for the benefit of all eligible employees of Stewart & Stevenson Services, Inc., and its subsidiaries, C. Jim Stewart & Stevenson, Inc., Stewart & Stevenson Power, Inc., Stewart & Stevenson Operations, Inc., Stewart & Stevenson Transportation, Inc., Stewart & Stevenson International, Inc., Stewart & Stevenson Technical Services, Inc., and Pow-R-Quik Limited. These entities are collectively referred to as "the Company." Effective September 1, 1994, and November 19, 1994, respectively, the Plan has been amended to include all eligible employees of Creole International, Inc., and Power Application & Mfg. Co. The following description of the Plan provides a summary of the Plan. Participants should refer to the Plan document for a more complete description of the Plan's provisions. Basis of Accounting The financial statements of the Plan have been prepared on the accrual basis of accounting. Use of Estimates and Assumptions 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. Reclassifications The accompanying financial statements for 1994 contain certain reclassifications to conform with the presentation used in 1995. Plan Administration The Plan is administered by a committee (the Administrative Committee) which is appointed by the board of directors of Stewart & Stevenson Services, Inc. This committee is empowered to act on all matters affecting the Plan including, among other things, interpreting the Plan's provisions, determining the eligibility of employees to become participants in the Plan, selecting the funds to be made available in the Plan and determining any person's right to a benefit under the Plan. The Administrative Committee members do not receive compensation for services rendered to the Plan. Custodial safekeeping of Plan assets is performed by Merrill Lynch Trust Company (the Trustee). Individual participant record keeping is performed under Merrill Lynch, Pierce, Fenner & Smith Incorporated (the Recordkeeper). Among other duties, the Trustee is to receive contributions, collect the income from the Plan's assets and make disbursements from the Plan's assets as directed by the administrative committee. The Recordkeeper's duties include processing and maintaining participant data, participant statements, and contributions and distributions for purposes of record keeping. Participation Employee participation in the Plan is voluntary. All employees who are at least 21 years of age are eligible to participate in the Plan after completion of one year of service during which 1,000 or more hours are worked. Investments The following details the investment options available to each Plan participant: Fund 1 Merrill Lynch Global Allocation Fund, Inc., Class A (ML Global) Fund 2 Merrill Lynch Corporate Bond Fund, Inc., Intermediate Term, Class A (ML Corporate) Fund 3 Merrill Lynch Retirement Preservation Trust (ML Retirement) Fund 4 AIM Value Fund (AIM) Fund 5 American Balanced Fund (American) Fund 6 Stewart & Stevenson Services, Inc., Common Stock (S&S Services) The Plan's investments are recorded at cost when purchased but are adjusted to market value based upon published data, by the Trustee, for financial reporting purposes. The net change in the difference between market value of the investments on hand at December 31, 1995, and the market value of the investments on hand as of the beginning of the year, is included as unrealized appreciation (depreciation) of investments in the statement of changes in net assets available for benefits. Realized gains or losses on the sale of investments and withdrawals of investments are based on the value of the assets as of the beginning of the year or the time of purchase during the year, if later. Contributions Participants may elect to contribute 1 percent to 15 percent of their wages as reported to the Internal Revenue Service, subject to certain limitations, as defined, in any or all six funds. Contributions from employees are recorded in the period in which the Company makes payroll deductions from Plan participants. The matching employer contribution is 25 percent of the first 6 percent of the participant's contribution. Matching contributions from the Company are recorded in the same period as the corresponding employee contributions. Participant and employer contributions are remitted by the employer to the Trustee every two weeks and are credited directly to the participants' employee accounts by the Recordkeeper. Participants may also make rollover contributions to the Plan representing distributions from other qualified defined benefit or contribution plans. Participants can change the allocation of their contributions in these six funds or they can discontinue, increase or decrease their contribution rate within the 1 percent to 15 percent range as permitted by the Plan. All changes are performed over an automated benefits system. Participants' Benefits Participants are fully vested in their participant contributions, rollovers and earnings thereon at all times. Participants shall have a 100 percent vested interest in their employer contributions upon attaining age 65, the normal retirement age according to the Plan. Those participants who terminate prior to normal retirement age are entitled to a benefit pursuant to the value of their vested interests in their accounts as follows: Vested Years of Vesting Service Interest Less than 3 0% 3 20 4 40 5 60 6 80 7 or more 100 Forfeited employer contributions are applied as a reduction of future employer matching contributions but will be restored to the participants who previously forfeited the contribution upon reemployment within five years of termination. The Company anticipates and believes that the Plan will continue without interruption but reserves the right to terminate the Plan. In the event of termination, the assets of the Plan, less expenses of liquidation, will be allocated to the participants in accordance with the terms of the Plan. Withdrawals and Loans Participant benefits are payable to participants or to a designated beneficiary in the event of their retirement, death or termination of employment. In limited circumstances, account withdrawals may be made for financial hardship in accordance with the Plan. Benefit payments to withdrawing employees are made in lump-sum payments. As of December 31, 1995, the amount payable to persons who have withdrawn from the Plan was $397,504. A participant may borrow from his account up to a maximum equal to the lesser of $50,000 or 50 percent of his vested account balance. Loan transactions are treated as a transfer to (from) the investment fund from (to) the participant loan fund. The minimum loan is $1,000 and will bear interest at a rate of prime plus 1 percent. Outstanding loans currently bear interest rates from 7 percent to 10 percent. The loans shall not exceed five years, except for loans for the purpose of acquiring a principal residence. The loans are secured by the balance in the participant's account. Principal and interest are paid ratably through monthly payroll deductions. Recognition of Income and Expenses Interest income is reported daily on an accrual basis. Plan income or loss is allocated to the participants daily in the ratio that each participant's account balance bears to all account balances. Although not required by the Plan, all administrative expenses relating to the Plan have been paid by the Company. 2. FEDERAL INCOME TAXES: The Plan obtained its latest determination letter on September 3, 1994, in which the Internal Revenue Service stated that the Plan, as originally established, was in compliance with the applicable requirements of the Internal Revenue Code (the Code). Although the Plan has been amended since receiving the determination letter, the Administrative Committee believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code. Therefore, the Administrative Committee believes that the Plan is qualified and is tax-exempt as of December 31, 1995 and 1994. 3. ALLOCATION TO INVESTMENT PROGRAMS: The following statements reflect the allocation of net assets available for benefits and changes in net assets available for benefits to the separate investment funds as of and for the years ended December 31, 1995 and 1994: Statement of Net Assets Available for Benefits by Investment Program December 31, 1995
Part. Undis. Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Loan Liab. Total ------ ------- ------- ------ ----- ------ ------- ----- ----- Assets- Investments, at fair value- Common stock $ - $ - $ - $ - $ - $778,559 $ - - $778,559 Mutual funds 2,536,522 650,802 - 3,692,840 1,478,011 - - - 8,358,175 Money market fund - - 1,193,546 - - - - - 1,193,546 Participant loans - - - - - - 286,595 - 286,595 ---------- -------- --------- --------- --------- ------- -------- ------ ----------- 2,536,522 650,802 1,193,546 3,692,840 1,478,011 778,559 286,595 - 10,616,875 Receivables- Employer contributions 3,844 1,212 2,038 5,196 1,925 1,272 - - 15,487 Participant contributions 19,753 5,948 10,191 27,764 9,773 9,716 - - 83,145 ---------- -------- -------- -------- -------- ------- ------- ------ ----------- 23,597 7,160 12,229 32,960 11,698 10,988 - - 98,632 ----------- -------- ---------- --------- ---------- ------- ------- ------- ---------- Total assets 2,560,119 657,962 1,205,775 3,725,800 1,489,709 789,547 286,595 - 10,715,507 Liabilities- Other - - - - - - - 145,108 145,108 ---------- -------- --------- -------- --------- ------ -------- --------- ----------- - - - - - - - 145,108 145,108 ---------- -------- --------- -------- --------- ------ -------- ---------- ----------- Net assets available for $2,560,119 $657,962 $1,205,775 $3,725,800 $1,489,709 $789,547 $286,595 $(145,108) $10,570,399 benefits ========== ======== ========== ========== ========== ========= ========= ========= ===========
Statement of Net Assets Available for Benefits by Investment Program December 31, 1994
Part. Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Loan Total ------- ------ ------ ------ ------ ------ ---- ----- Assets- Investments, at fair value- Common stock $ - $ - $ - $ - $ - $326,391 $ - $ 326,391 Mutual funds 771,631 180,578 - - - - - 952,209 Money market fund - - 232,640 - - - - 232,640 Other investments - - - 944,940 290,703 - - 1,235,643 Participant loans - - - - - - 29,048 29,048 -------- -------- -------- -------- -------- -------- ------- ---------- 771,631 180,578 232,640 944,940 290,703 326,391 29,048 2,775,931 Receivables- Employer contributions 2,840 650 1,198 3,175 1,170 1,167 - 10,200 Participant contributions 15,819 3,304 6,634 17,837 6,126 6,736 - 56,456 --------- -------- ------- -------- ------- -------- -------- --------- 18,659 3,954 7,832 21,012 7,296 7,903 - 66,656 --------- --------- ------- -------- ------- -------- -------- --------- Total assets 790,290 184,532 240,472 965,952 297,999 334,294 29,048 2,842,587 Liabilities- Other 78,192 18,445 11,043 109,859 24,417 22,958 - 264,914 -------- --------- -------- -------- ------- ------- -------- --------- Net assets available for $712,098 $166,087 $229,429 $856,093 $273,582 $311,336 $29,048 $2,577,673 benefits ======== ======== ======== ======== ======== ======== ======== ==========
Statement of Changes in Net Assets Available for Benefits by Investment Program For the Year Ended December 31, 1995
Part. Undis Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Loan Liab Total ------ ------ ------ ------ ------ ------- ----- ------ ----- Additions to net assets attributed to- Investment income- Dividends $196,275 $27,395 $45,506 $ 210,246 $ 85,946 $4,874 $ - $ - $570,242 Interest 2,612 746 1,952 3,390 1,676 964 - - 11,340 Realized gain (loss) on sale of investments 17,606 2,549 - 43,079 13,963 (9,632) - - 67,565 Unrealized appreciation (depreciation) in fair value of investments 145,154 31,821 - 359,324 109,289 (195,662) - - 449,926 -------- ------- --------- ------- --------- --------- --------- -------- ----------- Total investment income 361,647 62,511 47,458 616,039 210,874 (199,456) - - 1,099,073 Contributions- Employer 185,889 58,835 98,835 251,926 93,336 86,448 - - 775,269 Participant 953,197 288,481 493,326 1,344,174 473,326 469,898 - - 4,022,402 Participant rollovers 569,328 130,368 441,991 716,646 576,178 55,892 - - 2,490,403 -------- ------- ---------- --------- --------- -------- --------- -------- ----------- Total contributions 1,708,414 477,684 1,034,152 2,312,746 1,142,840 612,238 - - 7,288,074 --------- ------- ---------- --------- --------- -------- --------- -------- ----------- Total additions 2,070,061 540,195 1,081,610 2,928,785 1,353,714 412,782 - - 8,387,147 --------- ------- ---------- --------- --------- -------- --------- -------- ----------- Deductions from net assets attributed to- Distributions to participants 34,358 12,113 38,180 63,013 74,497 25,141 2,011 131,704 381,017 Withdrawals - - - - - - - 13,404 13,404 Loan activity, net 48,082 20,262 55,022 71,413 47,283 17,496 (259,558) - - Interfund transfers, net 139,600 15,945 12,062 (75,348) 15,807 (108,066) - - - --------- ------- ---------- ---------- --------- --------- -------- --------- ----------- Total deductions 222,040 48,320 105,264 59,078 137,587 (65,429) (257,547) 145,108 394,421 --------- ------- ---------- ---------- --------- ---------- -------- --------- ----------- Net increase (decrease) 1,848,021 491,875 976,346 2,869,707 1,216,127 478,211 257,547 (145,108) 7,992,726 Net assets available for benefits- Beginning of year 712,098 166,087 229,429 856,093 273,582 311,336 29,048 - 2,577,673 --------- ------- ---------- ---------- --------- -------- -------- --------- ----------- End of year $2,560,119 $657,962 $1,205,775 $3,725,800 $1,489,709 $789,547 $286,595 $(145,108) $10,570,399 ========== ======== ========== ========== ========= ======== ======== ========== ===========
Statement of Changes in Net Assets Available for Benefits by Investment Program For the Year Ended December 31, 1994
Part. Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Loan Total ------ ------ ------ ------ ------ ------ ----- ----- Additions to net assets attributed to- Investment income- Dividends $ 37,936 $ 6,846 $ 5,024 $ - $ - $ 873 $ - $ 50,679 Interest 508 11 - 14,487 7,088 16 - 22,110 -------- -------- -------- -------- -------- -------- -------- ---------- Total investment income 38,444 6,857 5,024 14,487 7,088 889 - 72,789 Contributions- Employer 128,106 32,189 32,923 141,696 44,997 50,791 - 430,702 Participant 688,997 172,214 180,931 769,898 237,244 286,173 - 2,335,457 Participant rollovers 29,833 5,837 24,413 60,174 27,206 12,894 - 160,357 -------- -------- -------- -------- -------- -------- -------- ---------- Total contributions 846,936 210,240 238,267 971,768 309,447 349,858 - 2,926,516 -------- -------- -------- -------- -------- -------- -------- ---------- Total additions 885,380 217,097 243,291 986,255 316,535 350,747 - 2,999,305 -------- -------- -------- -------- --------- -------- -------- ---------- Deductions from net assets attributed to- Distributions to participants 85,016 22,867 21,876 113,019 26,026 25,023 - 293,827 Withdrawals - 1,086 101 944 79 1,341 - 3,551 Realized (gain) loss on sale of investments 1,215 1,167 - (13) 130 1,535 - 4,034 Unrealized depreciation in fair value of 58,780 6,492 - 8,401 3,536 43,011 - 120,220 investments Loan activity, net 7,796 1,707 2,415 10,988 3,780 2,362 (29,048) - Interfund transfers, net 20,475 17,691 (10,530) (3,177) 9,402 (33,861) - - -------- -------- -------- -------- -------- -------- -------- ---------- Total deductions 173,282 51,010 13,862 130,162 42,953 39,411 (29,048) 421,632 -------- -------- -------- -------- -------- -------- -------- ---------- Net increase (decrease) 712,098 166,087 229,429 856,093 273,582 311,336 29,048 2,577,673 Net assets available for benefits- Beginning of year - - - - - - - - -------- -------- -------- -------- -------- -------- -------- ---------- End of year $712,098 $166,087 $229,429 $856,093 $273,582 $311,336 $ 29,048 $2,577,673 ======== ======== ======== ======== ======== ======== ======== ==========
SCHEDULE I STEWART & STEVENSON 401(k) SAVINGS PLAN ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1995
Number of Shares or Principal Current Identity of Issue Description Amount Cost Value ----------------- ----------- --------- ---- ------- Merrill Lynch Trust Company* Merrill Lynch Global Allocation Fund, Inc., Class A 182,747 $ 2,436,997 $ 2,536,522 Merrill Lynch Trust Company* Merrill Lynch Corporate Bond Fund, Inc., Intermediate Term, Class A 55,153 623,888 650,802 Merrill Lynch Trust Company* Merrill Lynch Retirement Preservation Trust 1,193,546 1,193,546 1,193,546 AIM Family of Funds AIM Value Fund 137,741 3,340,554 3,692,840 American Funds Group American Balanced Fund 104,453 1,369,807 1,478,011 Stewart & Stevenson Services, Inc.* Common stock 30,834 1,010,228 778,559 Stewart & Stevenson 401(k) Savings Participant loans (interest Plan* rates ranging from 7% to 10%)* 286,595 286,595 286,595 ------------ -------------- Total assets held for investment purposes $10,261,615 $ 10,616,875 =========== =============
* Identified party in interest. The foregoing notes to the financial statements are an integral part of this schedule. SCHEDULE II STEWART & STEVENSON 401(k) SAVINGS PLAN ITEM 27(d) - SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1995
Value of Number Asset on Identity of of Purchase Selling Cost of Transaction Gain Party Involved Description Trans. Price** Price** Asset Date (Loss) - -------------- ----------- ------ ---------- ------- ---------- ---------- ---------- Merrill Lynch Trust Company* Merrill Lynch Global Allocation Fund, Inc., 164 $1,939,699 $ - $1,939,699 $1,939,699 $ - Merrill Lynch Class A Trust Company* Merrill Lynch Global Allocation Fund, Inc., 141 - 337,568 333,113 337,568 4,455 Merrill Lynch Class A Trust Company* Merrill Lynch Corporate Bond Fund, Inc., Interm. 146 511,189 - 511,189 511,189 - Merrill Lynch Term, Class A Trust Company* Merrill Lynch Corporate Bond Fund, Inc., Interm. 82 - 75,335 74,371 75,335 964 Term, Class A Merrill Lynch Trust Company* Merrill Lynch Retirement Preservation Trust 233 1,195,936 - 1,195,936 1,195,936 - Merrill Lynch Trust Company* Merrill Lynch Retirement Preservation Trust 105 - 235,030 235,030 235,030 - AIM Family of Funds AIM Value Fund 226 2,701,169 - 2,701,169 2,701,169 - AIM Family of Funds AIM Value Fund 124 - 355,672 313,956 355,672 41,716 American Funds Group American Balanced Fund 182 1,271,489 - 1,271,489 1,271,489 - American Funds Group American Balanced Fund 93 - 207,433 195,921 207,433 11,512 Stewart & Stevenson Services, Inc.* Common stock 186 793,805 - 793,805 793,805 - Stewart & Stevenson Services, Inc.* Common stock 73 - 136,343 152,979 136,343 (16,636)
* Identified party in interest. ** Amounts are net of purchase/selling expenses. NOTE: This schedule presents all reportable transactions of the Plan for the year ended December 31, 1995. The foregoing notes to the financial statements are an integral part of this schedule. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Stewart & Stevenson 401(k) Savings Plan Administrative Committee which administers the Stewart & Stevenson 401(k) Savings Plan has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized in the City of Houston and the State of Texas, on the 27th day of June, 1996. Stewart & Stevenson 401(k) Savings Plan Administrative Committee /s/ Robert L. Hargrave /s/ Jack T. Currie _________________________ _________________________ Robert L. Hargrave Jack T. Currie Member Member /s/ Donald E. Stevenson /s/ David R. Stewart _________________________ _________________________ Donald E. Stevenson David R. Stewart Member Member /s/ J. Carsey Manning _________________________ ________________________ J. Carsey Manning Bob H. O'Neal Member Member EX-23 2 EXHIBIT 23.1 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference of our report dated June 21, 1996 on the financial statements and schedules of Stewart & Stevenson 401(K) Savings Plan as of and for the year ended December 31, 1995, included in this Form 11-K, into the previously filed Stewart & Stevenson Services, Inc. Form S-8 Registration Statement file No. 33-52903. /s/ Arthur Andersen, LLP Houston, Texas June 26, 1996 -----END PRIVACY-ENHANCED MESSAGE-----