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SECURITIES AND EXCHANGE COMMISSION
17 CFR PARTS 228, 229, 230 and 259
[Release Nos. 33-7072; 34-34330; 35-26079; IC-20388]
RIN: 3235-AC48
Rulemaking for EDGAR System
AGENCY: Securities and Exchange Commission.
ACTION: Final Rules.
SUMMARY: The Securities and Exchange Commission ("Commission")
is announcing the implementation of Financial Data Schedules
required to be furnished in connection with certain electronic
filings processed by the Divisions of Corporation Finance or
Investment Management that are submitted on the Electronic Data
Gathering, Analysis, and Retrieval ("EDGAR") system. Financial
Data Schedules will be required commencing on September 1, 1994.
The Commission also is adopting technical and clarifying
amendments to the Financial Data Schedule rules.
EFFECTIVE DATE: Implementation of Financial Data Schedule
requirements will commence with filings made on or after
September 1, 1994. The effective date of the rule changes is
September 1, 1994.
FOR FURTHER INFORMATION CONTACT: For Division of Corporation
Finance filings, Barbara C. Jacobs or James R. Budge, Office of
Disclosure Policy, at (202) 942-2910, or Sylvia J. Reis, CF EDGAR
Policy, at (202) 942-2940. For Division of Investment Management
filings, Anthony A. Vertuno, EDGAR IM Project, at (202) 942-0591.
For filings under the Public Utility Holding Company Act of 1935,
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David Marsh, Office of Public Utility Regulation, at (202) 942-
0558.
SUPPLEMENTARY INFORMATION: The Commission is announcing the
implementation of Financial Data Schedule requirements and also
adopting revisions to Item 601(c)(1)(ii) -[1]- of
Regulations S-B -[2]- and S-K, -[3]- and is adding new
paragraph (c)(2)(iv) -[4]- thereto. The Commission also is
adopting revisions to paragraph (e) of Rule 483 -[5]- and
Form U-13-60. -[6]-
I. IMPLEMENTATION OF FINANCIAL DATA SCHEDULES IN CONNECTION
WITH DIVISION OF CORPORATION FINANCE AND DIVISION OF
INVESTMENT MANAGEMENT FILINGS
On February 23, 1993, the Commission adopted interim rules
to implement mandated electronic filing on the EDGAR system for
registrants whose filings are processed by the Divisions of
Corporation Finance and Investment Management and for those
making filings with respect to such registrants. -[7]-
---------FOOTNOTES----------
-[1]- 17 CFR 228.601(c)(1)(ii) and 17 CFR
229.601(c)(1)(ii).
-[2]- 17 CFR Part 228.
-[3]- 17 CFR Part 229.
-[4]- 17 CFR 228.601(c)(2)(iv) and 17 CFR
229.601(c)(2)(iv).
-[5]- 17 CFR 230.483(e).
-[6]- 17 CFR 259.313.
-[7]- Release Nos. 33-6977 (February 23, 1993) [58 FR
14628] ("Corporation Finance Release"); IC-19284
(February 23, 1993) [58 FR 14848] ("Investment
Company Release"); and 35-25746 (February 23,
(continued...)
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These rules included provisions requiring electronic filers to
furnish Financial Data Schedules. A Financial Data Schedule is an
exhibit that will contain financial information extracted or
derived from financial data within a filing that is marked (or
"tagged") to allow electronic manipulation of such information.
-[8]-
While most provisions of the interim rules became effective
on April 26, 1993, the Financial Data Schedule provisions
initially were to become effective on November 1, 1993, in order
to provide additional time for system programming. However, on
September 28, 1993, the Commission's Office of Information
Technology announced that Financial Data Schedules would not be
accepted by the EDGAR system until sometime in the second quarter
of 1994. -[9]- The Commission announces today that the
EDGAR system's capacity to accept and process Financial Data
Schedules has been fully developed and tested. As a result,
Financial Data Schedules will be required to be submitted in
connection with filings made on or after September 1, 1994.
---------FOOTNOTES----------
-[7]-(...continued)
1993) [58 FR 14999] ("Public Utility Release"),
cumulatively referred to as the "Adopting
Releases".
-[8]- For a complete discussion of Financial Data
Schedules, see Section IV.D of the Corporation
Finance Release. See also Section IV.D of the
Investment Company Release and Section IV of the
Public Utility Release.
-[9]- See Release No. 34-32971 (September 28, 1993) [58
FR 51659].
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As discussed more fully in the Adopting Releases, Financial
Data Schedules are required to be submitted with electronic
filings under the Securities Act of 1933 ("Securities Act")
-[10]- and the Securities Exchange Act of 1934 ("Exchange
Act")) -[11]- that contain updated financial information
(other than through incorporation by reference) and with
designated filings under the Investment Company Act of 1940
-[12]- and the Public Utility Holding Company Act of 1935
("1935 Act"). -[13]- Advance copies of the EDGAR Filer
Manual and EDGARLink version 3.5, which support construction of
Financial Data Schedules, were made available to the public in
April 1994; minor modifications will be made available prior to
the mandated implementation date. This distribution scheme was
chosen to allow mandated electronic filers ample time to commence
test filings in advance of the September 1994 implementation
date. -[14]-
After Financial Data Schedule requirements are implemented,
an electronic filer's failure to furnish a schedule will not
prevent acceptance of the filing for which the schedule is
---------FOOTNOTES----------
-[10]- 15 U.S.C. 77a et seq.
-[11]- 15 U.S.C. 78a et seq.
-[12]- 15 U.S.C. 80a-1 et seq.
-[13]- 15 U.S.C. 79a et seq.
-[14]- The Commission is adopting the EDGAR Filer Manual
for EDGARLink version 3.5 concurrently with this
release; the updated Filer Manual also has an
effective date of September 1, 1994. See Release
No. 33-7073 (July 8, 1994).
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required. However, inasmuch as the schedule may be used by the
Commission staff, processing of the filing may be delayed pending
filing of the schedule. Further, electronic filers that have not
filed a required Financial Data Schedule will be ineligible to
use Form S-2, -[15]- Form S-3, -[16]- and Form S-8.
-[17]- If a filing is made without a required Financial
Data Schedule, or if a schedule is submitted with errors and is
therefore identified by EDGAR as a "flawed" exhibit, the filer
must remedy the omission or flawed schedule by submitting a
correctly compiled schedule as an amendment to the original
filing. -[18]-
II. CLARIFYING AMENDMENTS AND OTHER MATTERS INVOLVING DIVISION
OF CORPORATION FINANCE FILINGS
A. Rule Changes
In the Adopting Releases, the Commission solicited comments
or suggestions from interested parties relating to the Financial
Data Schedule requirements. In response, the Commission received
---------FOOTNOTES----------
-[15]- 17 CFR 239.12.
-[16]- 17 CFR 239.13.
-[17]- 17 CFR 239.16b. In addition, accelerated
effectiveness will not be available for
registration statements that do not contain
required Financial Data Schedules.
-[18]- If the amendment is solely for the purpose of
adding or revising this exhibit, the filing may
consist of the cover page, signature page, exhibit
index, and the new or revised exhibit. The rest
of the filing need not be resubmitted.
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three comment letters. -[19]- Filers generally have
reacted favorably to the changes made to the proposed Financial
Data Schedule requirements now embodied in the adopted rules.
However, in response to questions from filers, the Commission is
adopting technical and clarifying amendments to Item 601(c) of
Regulations S-B and S-K -[20]- to provide registrants with
a clearer understanding of the filing requirements relating to
Financial Data Schedules.
Because the amendments adopted today are merely technical
corrections to clarify existing requirements and relate generally
to agency procedure or practice, proposal for comment is not
required under the Administrative Procedure Act. -[21]-
Further, the Commission finds good cause under Section 553(b) of
that Act for not publishing the amendments for comment because
such publication is unnecessary. The rules being amended were
adopted after notice and opportunity for public comment, and no
substantive obligations will change as a result of the
amendments. The changes are responsive to filer concerns raised
with the staff relating to ambiguity in the current language of
the rules. Since no public comment is required, it follows that
---------FOOTNOTES----------
-[19]- These letters are available for inspection in the
Commission's public reference room, File No. S7-6-
93.
-[20]- 17 CFR 228.601(c) and 17 CFR 229.601(c). For
purposes of this release, any references to Item
601 of Relation S-K also pertain to Item 601(c) of
Regulation S-B.
-[21]- 5 U.S.C. 553(b).
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this rulemaking is not subject to the requirements of the
Regulatory Flexibility Act. -[22]-
---------FOOTNOTES----------
-[22]- 5 U.S.C. 603, 604.
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1. Periods covered in Financial Data Schedule
As adopted, Item 601(c) states that subsequent to becoming
subject to mandated electronic filing, any electronic filing that
includes financial statements of the registrant:
for a recent fiscal year or interim year to date
period, or both, for which financial statements have
not previously been filed, otherwise than by
incorporation by reference, shall include as an exhibit
a Financial Data Schedule containing information for
the updating period or periods (emphasis added).
-[23]-
Some filers have expressed uncertainty about the meaning of
the term "updating period" as it relates to income statements
included in quarterly reports on Form 10-Q, asking if the
schedule should include information only for the period of the
report, that is, one quarter's information, or if cumulative year
to date information should be included, or both. -[24]- In
the Corporation Finance Release, the Commission explained that
information would be required for the interim year to date period
(e.g., nine months in the third quarter Form 10-Q). -[25]-
Accordingly, the Commission is amending the language of Item
601(c) to clearly state that information is required for the most
recent annual or interim year to date periods (or both if
---------FOOTNOTES----------
-[23]- Item 601(c)(1)(ii) of Regulations S-B and S-K.
-[24]- A summary of staff telephone conversations on this
point is available for inspection in the
Commission's public reference room, File No. S7-6-
93.
-[25]- See Section IV.D.3 of the Corporation Finance
Release.
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included in a registration statement to which the schedule
relates). -[26]-
2. Representing immaterial or inapplicable values
Filers must furnish a value corresponding to each line item
required in the various schedules. -[27]- One commenter
suggested that a "N/A" (not applicable) designation be allowed in
response to a Financial Data Schedule line item where
corresponding information was omitted from the underlying
financial statements because it was immaterial or inapplicable,
as permitted by Regulation S-X. -[28]- Because of system
design considerations, an "N/A" designation is not feasible.
However, in order to address the issue, the Commission is
amending Item 601(c) to provide specifically that if an item is
inappropriate or immaterial in the underlying financial
statements, a filer must place a "0" (zero) next to the
---------FOOTNOTES----------
-[26]- A Financial Data Schedule furnished with a
Securities Act registration statement that
includes financial information for both annual and
interim periods would include two columns of data
-- one column for the annual period, and another
for the interim period.
-[27]- If a consolidated totals schedule (Schedule CT) is
used with two or more partial schedules applicable
to disparate industry segments of a single
conglomerate corporation, a value is required for
each item in the Schedule CT itself. Tags and
values for inapplicable or immaterial items in the
associated schedules are not required to be
included; if, however, tags for such items are
included, a value "0" (zero) is required.
-[28]- 17 CFR Part 210.
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appropriate tag in the Financial Data Schedule. This will inform
the EDGAR system that the data entry cannot be used for ratio
calculations or other arithmetic functions.
3. No Schedule required with Form 11-K
Financial Data Schedules were never intended to be required
in connection with reports on Form 11-K, the annual report for
employee stock purchase, savings and similar plans, -[29]-
and consequently, no affirmative obligation to submit a Schedule
was adopted in Regulation S-K, Regulation S-B or the Form itself.
In order to make that policy clear, a note has been added to
Regulation S-K and S-B exempting filings on Form 11-K from
Financial Data Schedule requirements. -[30]-
B. Other Matters
1. Schedule to be filed by public utility companies
and public utility holding companies in connection
with filings processed by the Division of
Corporation Finance
The adopted rules provide that public utility companies and
public utility holding companies (jointly referred to as "public
utilities") must use Schedule UT -[31]- in preparing their
Financial Data Schedules submitted in connection with Division of
---------FOOTNOTES----------
-[29]- 17 CFR 249.311.
-[30]- See new note to paragraph (c)(1)(ii) of Item 601
of Regulation S-B and Regulation S-K.
-[31]- Appendix E to Item 601(c). Schedule UT follows
the same format for the Financial Data Schedule
(OPUR1) required in connection with annual reports
filed under the 1935 Act.
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Corporation Finance filings. -[32]- One commenter stated
that it was unclear when a company is considered a "public
utility company" under the Financial Data Schedule rules. The
term "public utility company" is defined in the 1935 Act as "an
electric utility company or a gas utility company," as those
terms are defined in that Act. -[33]- This definition was
intended to apply to the provisions in question.
The commenter also requested clarification as to whether an
option would be available to a public utility company to choose
between Schedule UT or the Schedule based on Article 5 of
Regulation S-X. -[34]- Generally, public utilities will be
required to use Schedule UT in connection with their filings
under the Securities Act or the Exchange Act. However, as is
true with the presentation of other forms of financial
information, in unusual circumstances where a public utility's
financial statements simply would be better reflected by the use
of a Financial Data Schedule other than Schedule UT, appropriate
relief may be granted upon consultation with the staff of the
Division of Corporation Finance.
2. Interpretation of items required by Financial Data
Schedules
---------FOOTNOTES----------
-[32]- These rules are found at 17 CFR 228.601(c)(3)(v)
and 17 CFR 229.601(c)(3)(v).
-[33]- See 1935 Act Sections 2(a)(3) and 2(a)(4) for
definitions of "electric utility company" and "gas
utility company" [15 U.S.C. 79b(a)(3) and (a)(4)].
-[34]- Appendix A to Item 601(c). Article 5 of
Regulation S-X is found at 17 CFR 210.5-01 through
210.5-04.
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One commenter expressed concerns that the Financial Data
Schedule captions are not sufficiently specific to encompass all
financial statement reporting components. System constraints
necessarily limit the different types of Financial Data Schedule
items to a feasible number of generic categories, with each item
requiring a response. Although there is an infinite number of
possible financial statement reporting variations, the schedule
items can capture only broadly defined and frequently occurring
account types. Consequently, the flexibility of presentation
generally available to registrants in their financial statements
is restricted in the context of Financial Data Schedules; filers
will not be allowed to customize line items in the schedules by
creating new tags or line items. -[35]- Filers must
consider the information in underlying financial statements and
determine the best fit into the line items on the schedule.
Financial Data Schedule line items are not provided for unusual
or infrequently occurring account types. Data relating to such
items, however, will be reflected in relevant totals included in
the Financial Data Schedule.
---------FOOTNOTES----------
-[35]- EDGARLink version 3.5 includes a facility to aid
filers in the construction of Financial Data
Schedules. Filers will be prompted to insert
figures following fixed tag names that correspond
to the various schedule items.
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III. MATTERS APPLICABLE TO INVESTMENT MANAGEMENT FILERS
A. Technical revisions to Rule 483(e)
The Commission is amending Rule 483(e) to correct a
typographical error in the Investment Company Release and to
conform the Financial Data Schedule items to revised form
requirements adopted by the Commission and changes in the
requirements for preparation of financial statements under
generally accepted accounting principles. In addition, the
Commission is amending Rule 483(e) to provide specifically that,
if an item is inappropriate or immaterial in the underlying
financial statements, a filer must place a "0" (zero) next to the
appropriate tag in the Financial Data Schedule. -[36]-
B. Technical revisions to Form U-13-60
The Commission is amending Form U-13-60 to correct a
typographical error in the Public Utility Release.
IV. STATUTORY BASIS
The amendments to Item 601(c) of Regulations S-B and S-K are
promulgated pursuant to Securities Act Sections 6, 7, 8, 10 and
19 and Schedule A; Exchange Act Sections 3, 9, 10, 12, 13, 14,
15, 23 and 35A; 1935 Act Section 20 and Investment Company Act of
1940 Sections 8, 30, 31 and 38. The amendments to Rule 483(e)
under the Securities Act are adopted under: Securities Act
Sections 2, 6, 7, 8, 10 and 19(a); Exchange Act Sections 3, 12,
13, 14, 15, 23 and 35A; and Investment Company Act Sections 8,
---------FOOTNOTES----------
-[36]- See new paragraph (e)(3)(iii) of Rule 483. See
also supra Section II.A.2 of this Release.
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30, 31 and 38. The amendments to 1935 Act Form U-13-60 are being
adopted under Sections 5, 6, 7, 10, 12, 13, 14, 17, and 20 of the
1935 Act.
List of Subjects in 17 CFR Parts 228, 229, 230 and 259
Holding companies; Investment Companies; Reporting and
recordkeeping requirements; Securities.
TEXT OF THE AMENDMENTS
For the reasons set forth above, Title 17, Chapter II of the
Code of Federal Regulations is amended as follows:
PART 228 - INTEGRATED DISCLOSURE SYSTEM FOR SMALL BUSINESS
ISSUERS
1. The authority citation for Part 228 continues to read as
follows:
Authority: 15 U.S.C. 77e, 77f, 77g, 77h, 77j, 77k, 77s,
77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 77hhh, 77jjj, 77nnn,
77sss, 78l, 78m, 78n, 78o, 78w, 78ll, 80a-8, 80a-29, 80a-30,
80a-37, 80b-11, unless otherwise noted.
2. In 228.601, by revising paragraph (c)(1)(ii) and by adding
paragraph (c)(2)(iv) to read as follows:
228.601 (Item 601) Exhibits.
* * * * *
(c) Financial Data Schedule.
(1) General.
(i) * * *
(ii) Any electronic filing that includes financial
statements of the registrant for a recent fiscal year or interim
year to date period, or both, for which financial statements have
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not previously been filed, otherwise than by incorporation by
reference, shall include as an exhibit a Financial Data Schedule
containing financial information for such fiscal year or interim
year to date periods, or both.
Note: Financial Data Schedules are not required in
connection with annual reports on Form 11-K (249.311 of this
chapter), for employee stock purchase, savings and similar plans.
* * * * *
(2) Format and presentation of Financial Data Schedule.
* * * * *
(iv) Except as otherwise provided in the EDGAR Filer Manual,
a response is required for each item called for in the schedule.
If information required by the applicable schedule is not
included in the underlying financial data because it is either
immaterial or inapplicable to the registrant, the registrant
shall use the value "0" (zero) in response to that item.
* * * * *
PART 229 - STANDARD INSTRUCTIONS FOR FILING FORMS UNDER THE
SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF
1934 AND ENERGY POLICY AND CONSERVATION ACT OF
1975 -- REGULATION S-K
3. The authority citation for Part 229 continues to read in
part as follows:
Authority: 15 U.S.C. 77e, 77f, 77g, 77h, 77j, 77k, 77s,
77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 77hhh, 77iii, 77jjj,
77nnn, 77sss, 78c, 78i, 78j, 78l, 78m, 78n, 78o, 78w, 78ll(d),
79e, 79n, 79t, 80a-8, 80a-29, 80a-30, 80a-37, 80b-11, unless
otherwise noted.
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* * * * *
4. In 229.601, by revising paragraphs (c)(1)(ii) and by adding
paragraph (c)(2)(iv) to read as follows:
229.601 (Item 601) Exhibits.
* * * * *
(c) Financial Data Schedule.
(1) General.
(i) * * *
(ii) Any electronic filing that includes financial
statements of the registrant for a recent fiscal year or interim
year to date period, or both, for which financial statements have
not previously been filed, otherwise than by incorporation by
reference, shall include as an exhibit a Financial Data Schedule
containing financial information for such fiscal year or interim
year to date periods, or both.
Note: Financial Data Schedules are not required in
connection with annual reports on Form 11-K (249.311 of this
chapter), for employee stock purchase, savings and similar plans.
* * * * *
(2) Format and presentation of Financial Data Schedule.
* * * * *
(iv) Except as otherwise provided in the EDGAR Filer Manual,
a response is required for each item called for in the schedule.
If information required by the applicable schedule is not
included in the underlying financial data because it is either
immaterial or inapplicable to the registrant, the registrant
shall use the value "0" (zero) in response to that item.
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* * * * *
PART 230 -- GENERAL RULES AND REGULATIONS, SECURITIES ACT
OF 1933
5. The authority citation for Part 230 continues to read as
follows:
Authority: 15 U.S.C. 77b, 77f, 77g, 77h, 77j, 77s, 77sss,
78c, 78l, 78m, 78n, 78o, 78w, 78ll(d), 79t, 80a-8, 80a-29, 80a-
30, and 80a-37, unless otherwise noted.
6. In 230.483, by adding paragraph (e)(3)(iii) and by revising
paragraph (e)(4) andto read as follows:
230.483 Exhibits for Certain Registration Statements, Financial
Data Schedule.
* * * * *
(e) Financial Data Schedule.
* * * * *
(3) Format and Presentation of Schedule.
* * * * *
(iii) Except as otherwise provided in the EDGAR Filer
Manual, a response is required for each item called for in the
schedule. If information required by the applicable schedule is
not included in the underlying financial data because it is
either immaterial or inapplicable to the registrant, the
registrant shall use the value "0" (zero) in response to that
item.
* * * * *
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(4) Contents of Financial Data Schedule. The Schedule
shall set forth the financial information and other data
specified below that are applicable to the registrant.
Article 6 of Regulation S-X
Item Number Item Description
6-03- Investments - cost
6-04-4 Investments
6-04-6 Receivables
6-04-8 Other assets
-- Balancing amount to total assets
6-04-9 Total assets
6-04- Accounts payable for securities
6-04-13 Senior long-term debt
-- Balancing amount to total liabilities
6-04-14 Total liabilities
6-04-16 Senior equity securities
6-04-16 Paid-in-capital - common shareholders
6-04-16 Number of shares or units - current
period
6-04-16 Number of shares or units - prior period
6-04-17(a) Accumulated undistributed net investment
income
(current year)
-- Overdistribution of net investment
income
6-04-17(b) Accumulated undistributed net realized
gains (losses)
-- Overdistribution of realized gains
6-04-17(c) Accumulated net unrealized appreciation
(depreciation)
6-04-19 Net assets
6-07-1(a) Dividend income
6-07-1(b) Interest income
6-07-1(c) Other income
6-07-2 Expenses - net
6-07-6 Net investment income (loss)
6-07-7(a) Realized gains (losses) on investments
6-07-7(d) Net increase (decrease) in appreciation
(depreciation)
6-07-9 Net increase (decrease) in net assets
resulting from
operations
6-09-2 Net equalization charges and credits
6-09-3(a) Distributions from net investment income
6-09-3(b) Distributions from realized gains
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6-09-3(c) Distributions from other sources
6-09-4(b) Number of shares sold
6-09-4(b) Number of shares redeemed
6-09-4(b) Number of shares issued - reinvestment
6-09-5 Total increase (decrease)
6-09-7 Accumulated undistributed net investment
income (prior
year)
6-04-17(b) Accumulated undistributed net realized
gains (prior year)
-- Overdistribution of net investment income
(prior year)
-- Overdistribution of net realized gains (prior
year)
Form N-SAR
Item Number Item Description
72F Gross advisory fees
72P Interest Expense
72X Total expenses (gross)
75 Average net assets
Form N-1A
Item Number Item Description
3(a) Net asset value per share - beginning of
period
3(a) Net investment income (loss) per share
3(a) Net realized and unrealized gain (loss)
per share
3(a) Dividends per share from net investment
income
3(a) Distributions per share from realized
gains
3(a) Per share returns of capital and
distributions from
other sources
3(a) Net asset value per share - end of
period
3(a) Ratio of expenses to average net assets
3(b) Average debt outstanding during period
3(b) Average debt outstanding per share
PART 259 -- FORMS PRESCRIBED UNDER THE PUBLIC UTILITY HOLDING
COMPANY ACT OF 1935
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7. The authority citation for Part 259 continues to read as
follows:
Authority: 15 U.S.C 79e, 79f, 79g, 79j, 79l, 79m, 79n,
79q, 79t.
Note -- The text of the following form and the amendment
will not appear in the Code of Federal Regulations.
8. In Form U-13-60 (referenced in 259.313), by revising the
Item numbers and caption headings in Schedule XIX to read as
follows:
Instructions and Form
FORM U-13-60
ANNUAL REPORT FOR MUTUAL AND SUBSIDIARY SERVICE COMPANIES
* * * * *
Schedule XIX. Financial Data Schedule
* * * * *
Item No. Caption Heading
1 Net Service Company Property
2 Total Investments
3 Total Current and Accrued Assets
4 Total Deferred Debits
5 Balancing Amount For Total Assets and Other Debits
6 Total Assets and Other Debits
7 Total Proprietary Capital
8 Total Long-Term Debt
9 Notes Payable
10 Notes Payable to Associate Companies
11 Balancing Amount For Total Current and Accrued
Liabilities
12 Total Deferred Credits
13 Accumulated Deferred Income Taxes
14 Total Liabilities and Proprietary Capital
15 Services Rendered to Associate Companies
16 Services Rendered to Nonassociate Companies
17 Miscellaneous Income or Loss
18 Total Income
19 Salaries and Wages
20 Employee Pensions and Benefits
21 Balancing Amount For Total Expenses
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22 Total Expenses
23 Net Income (Loss)
24 Total Expenses (Direct Costs)
25 Total Expenses (Indirect Costs)
26 Total Expenses (Total)
27 Number Of Personnel End Of Year
* * * * *
By the Commission.
Jonathan G. Katz
Secretary
Dated: July 8, 1994