<PAGE>
ELECTRONIC DATA SYSTEMS CORPORATION
EDS PUERTO RICO SAVINGS PLAN
FORM 11-K
ANNUAL REPORT
FOR THE YEAR ENDED DECEMBER 31, 1995
FILED PURSUANT TO SECTION 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934
<PAGE>
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
FORM 11-K
X ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF
- ---
1934
For the fiscal year ended December 31, 1995
-----------------
OR
TRANSITION REPORT PUSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF
- ---
1934
For the transition period from to
------------------------ ---------------------
Commission file number 1-11779
-------
EDS PUERTO RICO SAVINGS PLAN
----------------------------
(Full title of the plan)
Electronic Data Systems Corporation
5400 Legacy Drive
Plano, Texas 75024-3105
---------------------------------------------------
(Name of issuer of the securites held pursuant to
the plan and the address of its principal
executive offices)
Registrant's telephone number, including area code (214) 604-6000
Notices and communications from the Securites
and Exchange Commission relative to this report
should be forwarded to:
H. Paulett Eberhart
Chief Accounting Officer
Electronic Data Systems Corporation
5400 Legacy Drive
Plano, Texas 75024-3105
<PAGE>
FINANCIAL STATEMENTS AND EXHIBIT
- --------------------------------
(a) FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES Page No.
----------------------------------------------- --------
EDS Puerto Rico Savings Plan:
Independent Auditors' Report........................................ 3
Basic Financial Statements:
Statements of Net Assets Available for Benefits,
December 31, 1995 and 1994.................................... 4
Statements of Changes in Net Assets Available for
Benefits for the Years Ended December 31,
1995 and 1994................................................. 5
Notes to Financial Statements, December 31,
1995 and 1994................................................. 6
Supplemental schedules:
Line 27 (a) Schedule of Assets Held for
Investment Purposes, December 31, 1995........................ 14
Line 27 (d) Schedule of Reportable Transactions
for the Year Ended December 31, 1995.......................... 15
Supplemental schedules not listed above are omitted as the required information
is not applicable or the information is presented in the financial statements or
related notes.
(b) EXHIBIT
-------
Exhibit 23 Consent of Independent Auditors............................ 16
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of
1934, the Trustees of the EDS Puerto Rico Savings Plan have duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
EDS PUERTO RICO SAVINGS PLAN
----------------------------
(Name of plan)
EDS International Corporation
Plan Administrator
Date June 28, 1996 By
s/ Lester M. Alberthal, Jr.
----------------------------
(Lester M. Alberthal, Jr.,
Chairman of the Board
and Chief Executive Officer)
2
<PAGE>
INDEPENDENT AUDITORS' REPORT
----------------------------
To the Trustees
EDS Puerto Rico Savings Plan:
We have audited the accompanying statements of net assets available for benefits
of the EDS Puerto Rico 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 are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the EDS Puerto
Rico Savings Plan as of December 31, 1995 and 1994, and the changes in 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 and reportable transactions 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 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.
KPMG Peat Marwick LLP
Dallas, Texas
May 31, 1996, except for note 7
which is as of June 7, 1996
3
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Statements of Net Assets Available for Benefits
December 31, 1995 and 1994
<TABLE>
<CAPTION>
Assets: 1995 1994
---------- ---------
<S> <C> <C>
Investments (Note 4):
Income Fund, primarily at contract
value
(cost, 1995 - $4,355 $ 4,355 $ 2,044
1994 - $2,044)
GM Class E Stock Fund, at fair
value
(cost, 1995 - $15,272 18,923 11,628
1994 - $11,408)
Vanguard Wellington Fund, at fair
value
(cost, 1995 - $28,223 33,676 26,087
1994 - $27,043)
Vanguard U.S. Growth Portfolio, at
fair value
(cost, 1995 - $10,942 13,325 6,089
1994 - $6,002)
Vanguard International Growth
Portfolio,
at fair value
(cost, 1995 - $13,740 14,819 23,236
1994 - $23,654)
Vanguard Quantitative Portfolios,
at fair value
(cost, 1995 - $9,274 10,885 9,676
1994 - $10,242)
Vanguard Money Market Reserves -
Prime Portfolio,
at fair value
(cost, 1995 - $350,714 350,714 308,055
1994 - $308,055)
Vanguard Bond Index Fund, at fair
value
(cost, 1995 - $1,668 1,728 --
1994 - $0)
Loan Fund, at unpaid principal
balance, 4,458 4,663
which approximates fair value -------- --------
Total Assets 452,883 391,478
Refund Payable 20,417 46,600
-------- --------
Net assets available for $432,466 $344,878
benefits ======== ========
</TABLE>
See accompanying Notes to Financial Statements.
4
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 1995 and 1994
<TABLE>
<CAPTION>
1995 1994
---------- ---------
<S> <C> <C>
Additions to net assets attributed to:
Investment income:
Net appreciation
(depreciation) in fair value $ 16,394 $ (1,518)
of investments
(Note 4)
Interest 18,694 11,145
Dividends 3,335 1,336
-------- --------
Total 38,423 10,963
Contributions - employees 52,514 70,480
Roll-overs from other plans 51 29,605
-------- --------
Total additions 90,988 111,048
Deductions from net assets attributed 3,400 11,596
to withdrawals -------- --------
Net increase 87,588 99,452
Net assets available for benefits at:
Beginning of year 344,878 245,426
-------- --------
End of year $432,466 $344,878
======== ========
</TABLE>
See accompanying Notes to Financial Statements.
5
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
December 31, 1995 and 1994
1. Description of Plan
-------------------
The EDS Puerto Rico Savings Plan (the Plan) became effective July 16, 1993,
with employees admitted to the Plan on this date. As used herein, the terms
"EDS", "the Company", and "Employer" refer to EDS International Corporation (a
wholly owned subsidiary of Electronic Data Systems Corporation). The following
description of the Plan reflects all Plan amendments and is provided for general
purposes only. Participants should refer to the Plan document, as amended, for
more complete information.
General - The Plan is a qualified profit sharing plan with provisions pursuant
to Section 165 of the Puerto Rico Income Tax Act of 1954, as amended (ITA),
covering eligible employees of the Company. An employee becomes eligible to
participate in the Plan upon the completion of at least one hour of service with
the Employer.
The Vanguard Fiduciary Trust Company (Vanguard) is the asset custodian and
record-keeper for the Plan. Banco Santander is the trustee of the Plan. The
Plan's investment activities are managed by the Vanguard Group of Investment
Companies. The Plan's Investment Committee has approval and oversight
responsibilities for the investment process.
The Plan is subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA), as amended and the Internal Revenue Code, as
amended. The Plan was created to provide additional incentive and retirement
security for eligible employees. The Plan has seven investment funds: the
Income Fund, which is a fixed income fund; the GM Class E Common Stock Fund,
which consists of GM Class E common stock and a small amount of cash invested in
a money market account; the Vanguard Money Market Reserves-Prime Portfolio
(Vanguard Money Market), a short-term investment fixed income fund; the
Vanguard Wellington Fund (Vanguard Wellington), a stock and bond mutual fund;
the Vanguard Quantitative Portfolios (Vanguard Quantitative), a growth and
income stock mutual fund; the Vanguard U.S. Growth Portfolio (Vanguard U.S.), a
growth stock mutual fund; Vanguard International Growth Portfolio (Vanguard
International), a growth stock mutual fund investing in foreign companies; and
the Vanguard Bond Index Fund, an intermediate term bond fund.
All of the administrative expenses of the Plan are paid by the Company with
the exception of loan application fees. All investment expenses are paid from
the investment funds.
Contributions - Each year, contributions to the Plan are made on a pre-tax
basis. Participants may elect to defer between one percent and ten percent of
their total compensation subject to: (1) a maximum annual contribution of
$7,000, (2) a maximum annual eligible compensation of $150,000 per participant
beginning January 1, 1994, and (3) limitations imposed to ensure a fair mix of
participation among employees (elective contributions).
A participant may elect, up to four times annually, to change his/her
designated percentage of pay withheld.
Withdrawals - A participant may request a withdrawal of all or a portion of
the amount of accumulated voluntary contributions in cases of hardship. Once a
participant has exhausted all other available financial resources, including
Plan loans, and upon the approval of the Plan Administrator, a participant may
then withdraw an amount equal to but not in excess of the expense of the
hardship (the "Hardship Withdrawal"). In order to obtain such approval from the
Plan Administrator, a participant must demonstrate immediate and heavy financial
need. Participants age 59 1/2 or above may request an in-service withdrawal. The
amount of a participant's withdrawals may not be repaid to the Plan.
Participant's Individual Account - The Participant's Individual Account is
credited with the participant's contributions (including rollovers) and the
amounts of participant earnings dictated by the number of units held in each
investment fund. The benefit to which a participant is entitled is limited to
the amount of the participant's individual account.
6
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
The participant determines both the amount deferred and the percentage of the
investment contributed to one or more of the investment funds. The percentages
may be in any whole percentage increment.
Vesting - Participants are always 100% vested in their individual accounts and
in the earnings received thereon.
Payment of Benefits - On termination of service, age 59 1/2, death, or
retirement, a participant may elect to receive either a cash distribution for
all or part of the value of his/her account, GM Class E common stock (for any
amount so invested), or a non-transferable annuity contract purchased on his/her
behalf form an insurance company. A participant may elect to receive periodic
payments in monthly, quarterly, or semiannual installments or elect to have all
or part of his/her account rolled over to another qualified plan or to an
individual retirement account.
Loans - Upon written application of a participant, the Plan Administrator may
direct the Trustees to make a loan to the participant. The amount of any such
loan is limited to fifty percent (50%) of the amount of accumulated elective
contributions to which the participant would be entitled if employment was
terminated as of the date the loan is made. No loan may be granted for less
than $500. The maximum amount of loans available to a participant may not
exceed $50,000 reduced by the highest outstanding loan balances from the Plan
during the preceding year minus the outstanding loan balances on the date a loan
is made. Plan loans and interest must be repaid within five years or upon
separation from employment, whichever is earlier. If the outstanding loan is
not repaid in full prior to the end of the quarter during which the participant
separates, the amount outstanding will be reported to the Puerto Rico Department
of the Treasury as income for that calendar year. The Plan allows only one
outstanding loan at any time. At December 31, 1995 and 1994, the interest rate
on new loans was eight and three-fourths percent (8.75%) and eight and one half
percent (8.50%), respectively.
Use of Estimates - The preparation of the financial statements in conformity
with generally accepted accounting principles requires the Plan Administrator 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 additions and deductions
during the reporting period. Because of the use of estimates inherent in the
financial reporting process, actual results could differ from those estimates.
2. Summary of Significant Accounting Policies
------------------------------------------
Investments - The Plan's investments are stated at fair value based on quoted
market prices except for its investment contracts with insurance companies which
are stated at contract value. Purchases and sales of the GM Class E common
stock are recorded on a trade date basis. Investments in the Income Fund are
valued at contract value which approximates fair value and represents
contributions made plus interest at the contract rate. Participant loans are
presented in the accompanying financial statements at unpaid principal balance
which approximates fair value.
Investment Income - Income from investments is recorded as it is earned.
Benefits - Benefits are recorded when paid.
Contribution Refunds - Refunds of excess participant contributions to be made
subsequent to December 31, 1995 under section 415 of the Internal Revenue Code
of 1986 (Code) are recorded on an accrual basis. At December 31, 1995, refunds
due to participants are allocated as follows: $83 - Income Fund; $95 - Vanguard
Wellington Fund; $1,509 - Vanguard U.S. Growth Portfolio Fund; $1,334 - Vanguard
International Growth Portfolio Fund; $49 - Vanguard Quantitative Portfolio Fund;
and $17,347 - Vanguard Money Market Reserves - Prime Portfolio Fund. At
December 31, 1994, refunds due to participants were allocated as follows: $314 -
Income Fund; $4,557 - GM Class E Stock Fund; $3,628 -Vanguard Wellington Fund;
$520 - Vanguard U.S. Growth Portfolio Fund; $11,648 - Vanguard International
Growth Portfolio Fund; $3,010 - Vanguard Quantitative Portfolios Fund; and
$22,923 - Vanguard Money Market Reserves - Prime Portfolio Fund.
7
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
3. Plan Termination
----------------
While it has not expressed any intention to do so, the Company has the right
to terminate the Plan at any time by majority vote of its Board of Directors
subject to the provisions of ERISA.
4. Investments
-----------
The Trustees of the Plan hold the investments of the Plan in trust on behalf
of the participants. Consistent with the fiduciary standards of ERISA,
safeguards are adhered to in protecting the interests of Plan participants and
their beneficiaries.
The following table presents the fair value/contract value of the Plan's
investments at December 31, 1995 and 1994. Investments that represent five
percent (5.00%) or more of the Plan's net assets are separately identified.
<TABLE>
<CAPTION>
1995 1994
------------------------ -----------------------
Number Fair value/ Number Fair value/
of shares contract of shares contract
or units value or units value
------------------------ -----------------------
<S> <C> <C> <C> <C>
Income Fund 4,355 $ 4,355 -- $ 2,044
GM Class E Stock Fund (cost of
$15,272 in 1995 and
$11,408 in 1994)* 853 18,923 706 11,628
Vanguard Wellington (cost of
$28,223 in 1995 and
$27,043 in 1994)* 1,378 33,676 1,345 26,087
Vanguard U.S. (cost of
$10,942 in 1995 and
$6,002 in 1994) 655 13,325 397 6,089
Vanguard International (cost of
$13,740 in 1995 and
$23,654 in 1994) 987 14,819 1,730 23,236
Vanguard Quantitative (cost of
$9,274 in 1995 and
$10,242 in 1994) 546 10,885 622 9,676
Vanguard Money Market* 350,714 350,714 308,055 308,055
Vanguard Bond Index Fund (cost
of $1,668 in 1995) 170 1,728 -- --
Loan Fund (2 loans in 1995
and 1994, loans outstanding
from $900 to $2,038 and
$1,110 to $3,687 in 1995
and 1994, respectively, with
interest rates from 6% to
8.75% in 1995 and 1994) -- 4,458 -- 4,663
-------- --------
$452,883 $391,478
======== ========
</TABLE>
* Represents 5% or more of Plan assets.
8
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
To hedge against adverse foreign currency movements, the Vanguard
International Growth Portfolio may enter into contracts for the purchase or sale
of a specific foreign currency at a fixed price at a future date. The forward
foreign currency rate of the underlying currency and any gains and losses are
recorded for financial statement purposes as unrealized until the contract
settlement date, at which point they are realized. To hedge against anticipated
future changes in interest or security prices, the Vanguard Quantitative
Portfolios may utilize futures contracts to a limited extent. The Fund receives
from or pays to brokers amounts equal to the daily fluctuations in the values of
the contracts. These receipts and payments are recorded as unrealized gains and
losses until the contract settlement dates, at which point they are realized.
The underlying risk to participants is proportional to each participant's number
of shares relative to the total number of shares issued by each mutual fund.
5. Related Party Transactions
--------------------------
As stated previously, the GM Class E Stock Fund consists of GM Class E common
stock and a small amount of cash invested in a money market account.
Additionally, all Vanguard funds consist of investments in various Vanguard
managed mutual funds.
6. Income Tax Status
-----------------
The Puerto Rico Department of the Treasury has determined and informed the
Company by a letter dated October 6, 1993 that the Plan and related trust are
designed in accordance with applicable sections of the ITA. Therefore, no
provision for income taxes has been included in the accompanying financial
statements. The Plan Administrator believes that the Plan is being operated in
compliance with the applicable requirements of the Internal Revenue Code.
7. Subsequent Event
----------------
On June 7, 1996, GM effected a split-off (the "Split-Off") of the Company. As
a result of the Split-Off, (i) the Company became an independent, publicly held
company with approximately 485 million shares of Common Stock outstanding and
listed for tradiing on the NYSE and the London Stock Exchange and (ii) each
outstanding share of Class E common stock of GM was converted into one share of
Common Stock of the Company. The plan was amended to allow investments in the
EDS Stock Fund.
9
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
8. Allocation of Changes in Plan Assets and Liabilities to Investment Programs
---------------------------------------------------------------------------
The following table presents the allocation of changes in net assets available
for benefits to investment programs for the year ended December 31, 1995:
<TABLE>
<CAPTION>
Vanguard Vanguard
Vanguard U.S. Growth International
Income GM Class E Wellington Portfolio Growth
Fund Stock Fund Fund Fund Portfolio Fund
------ ---------- ---------- ----------- --------------
<S> <C> <C> <C> <C> <C>
Additions to net assets
attributed to investment
income:
Net appreciation
in fair value of
investments $ -- $ 4,551 $ 6,441 $ 2,421 $ 692
Interest 191 -- -- -- --
Dividends -- 158 1,615 533 390
------ ------- ------- ------- -------
Total 191 4,709 8,056 2,954 1,082
Employee contributions 823 2,508 3,371 2,119 1,836
Roll-overs from other plans -- -- -- -- --
------ ------- ------- ------- -------
Total additions 1,014 7,217 11,427 5,073 2,918
Deductions from net assets
attributed to withdrawals -- (402) -- (407) --
Interfund transfers 1,528 5,037 (306) 1,581 (1,021)
------ ------- ------- ------- -------
Net increase (decrease) 2,542 11,852 11,121 6,247 1,897
Net assets available for
benefits at:
Beginning of year 1,730 7,071 22,459 5,569 11,588
------ ------- ------- ------- -------
End of year $4,272 $18,923 $33,580 $11,816 $13,485
====== ======= ======= ======= =======
</TABLE>
10
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
<TABLE>
<CAPTION>
Vanguard
Money Market
Vanguard Reserves-
Quantitative Prime Vanguard
Portfolios Portfolio Loan Bond Index
Fund Fund Fund Fund Total
------------ ------------ ------- ---------- -------
<S> <C> <C> <C> <C> <C>
Additions to net assets
attributed to
investment income:
Net appreciation
in fair value
of investments $ 2,228 $ -- $ -- $ 61 $ 16,394
Interest -- 18,286 217 -- 18,694
Dividends 592 -- -- 47 3,335
------- -------- ------ ------ --------
Total 2,820 18,286 217 108 38,423
Employee contributions 1,296 40,467 -- 94 52,514
Roll-overs from other plans -- 51 -- -- 51
------- -------- ------ ------ --------
Total additions 4,116 58,804 217 202 90,988
Deductions from net
assets attributed to
withdrawals -- (2,591) -- -- (3,400)
Interfund transfers 54 (7,977) (423) 1,527 --
------- -------- ------ ------ --------
Net increase (decrease) 4,170 48,236 (206) 1,729 87,588
Net assets available for
benefits at:
Beginning of year 6,666 285,131 4,664 -- 344,878
------- -------- ------ ------ --------
End of year $10,836 $333,367 $4,458 $1,729 $432,466
======= ======== ====== ====== ========
</TABLE>
11
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
8. Allocation of Changes in Plan Assets and Liabilities to Investment Programs
---------------------------------------------------------------------------
The following table presents the allocation of changes in net assets available
for benefits to investment programs for the year ended December 31, 1994:
<TABLE>
<CAPTION>
Vanguard Vanguard
Vanguard U.S. Growth International
Income GM Class E Wellington Portfolio Growth
Fund Stock Fund Fund Fund Portfolio Fund
---------- ---------- ---------- ----------- --------------
<S> <C> <C> <C> <C> <C>
Additions to net assets
attributed to investment
income:
Net appreciation
(depreciation) in fair
value of investments $ -- $ 220 $ (967) $ 92 $ (567)
Interest 45 -- -- -- --
Dividends -- 33 657 69 280
------ ------ ------- ------ -------
Total 45 253 (310) 161 (287)
Employee contributions 308 1,461 5,420 785 8,040
Roll-overs from other plans 1,316 -- 14,325 1,320 3,129
------ ------ ------- ------ -------
Total additions 1,669 1,714 19,435 2,266 10,882
Deductions from net assets
attributed to withdrawals (23) -- (225) -- (259)
Interfund transfers 1 5,357 (1,304) 1,013 (1,526)
------ ------ ------- ------ -------
Net increase (decrease) 1,647 7,071 17,906 3,279 9,097
Net assets available for
benefits at:
Beginning of year 83 -- 4,553 2,290 2,491
------ ------ ------- ------ -------
End of year $1,730 $7,071 $22,459 $5,569 $11,588
====== ====== ======= ====== =======
</TABLE>
12
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
<TABLE>
<CAPTION>
Vanguard
Money Market
Vanguard Reserves-
Quantitative Prime
Portfolios Portfolio Loan
Fund Fund Fund Total
------------ ------------ ---- -----
<S> <C> <C> <C> <C>
Additions to net assets
attributed to
investment income:
Net appreciation
(depreciation)
in fair value
of investments $ (296) $ -- $ -- $ (1,518)
Interest -- 10,874 226 11,145
Dividends 297 -- -- 1,336
------ -------- ------- --------
Total 1 10,874 226 10,963
Employee contributions 2,163 52,303 -- 70,480
Roll-overs from other plans 662 8,853 -- 29,605
------ -------- ------- --------
Total additions 2,826 72,030 226 111,048
Deductions from net
assets attributed to
withdrawals (88) (8,976) (2,025) (11,596)
Interfund transfers 722 (10,726) 6,463 --
------ -------- ------- --------
Net increase (decrease) 3,460 52,328 4,664 99,452
Net assets available for
benefits at:
Beginning of year 3,206 232,803 -- 245,426
------ -------- ------- --------
End of year $6,666 $285,131 $ 4,664 $344,878
====== ======== ======= ========
</TABLE>
13
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Line 27 (a) - Schedule of Assets Held for Investment Purposes
December 31, 1995
Description of Investment
-------------------------
<TABLE>
<CAPTION>
Number of
Rates of Shares Current
Identity of Party Interest or Units Cost Value
- ---------------------------------- ----------- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
Income Fund -- 4,355 $ 4,355 $ 4,355
GM Class E Stock Fund* -- 853 15,272 18,923
Vanguard/Wellington Fund* -- 1,378 28,223 33,676
Vanguard U.S. Growth*
Portfolio -- 655 10,942 13,325
Vanguard International*
Growth Portfolio -- 987 13,740 14,819
Vanguard Quantitative*
Portfolios -- 546 9,274 10,885
Vanguard Money Market*
Reserves - Prime
Portfolio -- 350,714 350,714 350,714
Vanguard Bond Index Fund -- 170 1,668 1,728
Loan Fund* 6% to 8.75% -- 4,458 4,458
-------- --------
Total Assets Held for Investment Purposes $438,646 $452,883
======== ========
* Parties-In-Interest
</TABLE>
See accompanying independent auditor's report.
14
<PAGE>
EDS PUERTO RICO SAVINGS PLAN
Line 27 (d) - Schedule of Reportable Transactions
For The Year Ended December 31, 1995
<TABLE>
<CAPTION>
Current
Expense Value of
Number Incurred Asset on Net
Identity of Party Description of of Purchase Selling Lease with Cost of Transaction Gain or
Involved Asset Transactions Price Price Rental Transaction Asset Date (Loss)
- ------------------- --------------- ------------ -------- ------- ------- ---------- ------- ----------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Vanguard Vanguard Money
Market
Reserves -
Prime Portfolio 46 $78,030 $ -- $-- $-- $78,030 $78,030 $--
(Money Market
Fund) 7 -- 35,220 -- -- 35,220 35,220 --
--
Vanguard Vanguard
International
Growth 35 10,717 -- -- -- 10,717 10,717 --
Portfolio
(Stock Fund) 4 -- 19,825 -- -- 20,631 19,825 (806)
Vanguard GM Class E
Stock Fund 40 13,279 -- -- -- 13,279 13,279 --
(Stock Fund) 3 -- 10,535 -- -- 9,414 10,535 1,121
</TABLE>
See accompanying independent auditor's report.
15
<PAGE>
EXHIBIT 23
CONSENT OF INDEPENDENT AUDITORS
-------------------------------
To the Trustees
EDS Puerto Rico Savings Plan:
We consent to incorporation by reference in the Registration Statement (No. 33-
54833) on Form S-8 of Electronic Data Systems Corporation of our report dated
May 31, 1996, except for Note 7 which is as of June 7, 1996 relating to the
statements of net assets available for benefits of the EDS Puerto Rico 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, and the related
supplemental schedules, which report appears in the December 31, 1995 annual
report on Form 11-K of the EDS Puerto Rico Savings Plan.
KPMG Peat Marwick LLP
Dallas, Texas
June 28, 1996
16
