SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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, 1996
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to __________
Commission File No. 2-70746
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS
(Full title of the Plan)
Central and South West Corporation
1616 Woodall Rodgers Freeway, Dallas, Texas 75202-1234
(Name and address of the issuer of the securities held pursuant to the Plan.)
<PAGE>
ARTHUR ANDERSEN LLP
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Central and South West System
Benefits Advisory Committee:
We have audited the accompanying statements of net assets available for benefits
of the Central and South West Corporation Thrift Plus (the "Plan") as of
December 31, 1996 and 1995, and the related statements of changes in net assets
available for benefits for each of the three years ended December 31, 1996.
These financial statements and the schedules referred to below are the
responsibility of the Plan's management. 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 the
Plan's management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for out
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1996, and 1995, and the changes in its net assets available for
benefits for each of the three years ended December 31, 1996, 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 Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The fund information in the
statements of net assets available for benefits and the statements of changes in
net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for plan benefits and
changes in net assets available for plan benefits 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.
ARTHUR ANDERSEN LLP
Dallas, Texas,
June 27, 1997
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION THRIFT PLUS
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
AS OF DECEMBER 31, 1996
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income Loan
Fund Stock Fund Fund Fund Fund Fund Total
---------- ------------ ---------- ------------- ------------ --------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS
Investment Contracts,
at contract value $ 7,091 $ - $ - $ - $ - $ - $ 7,091
Common stock, 10,917 shares,
at market value (cost of $165,547) - 279,744 - - - - 279,744
Mutual funds and Common/Collective
trusts, at market value 150,948 - 16,070 53,273 52,322 - 272,613
Fixed income temporary investments,
at market value 6,133 3,381 - - 9,514
Loans to participants - - - - - 30,609 30,609
---------- ---------- ---------- ---------- ------------ --------- ------------
164,172 283,125 16,070 53,273 52,322 30,609 599,571
---------- ---------- ---------- ---------- ------------ --------- ------------
CURRENT ASSETS
Accounts receivable
Participants 173 373 30 135 118 - 829
Employer 83 179 13 57 50 - 382
Accrued interest 772 6 - - - - 778
---------- ---------- ---------- ---------- ------------ --------- ------------
1,028 558 43 192 168 - 1,989
---------- ---------- ---------- ---------- ------------ --------- ------------
Total Assets 165,200 283,683 16,113 53,465 52,490 30,609 601,560
---------- ---------- ---------- ---------- ------------ --------- ------------
LIABILITIES
Purchases pending settlement - - - 1 - - 1
Accrued expenses 25 45 2 4 5 - 81
Loans payable - - - - - - -
---------- ---------- ---------- ---------- ------------ --------- ------------
Total Liabilities 25 45 2 5 5 - 82
---------- ---------- ---------- ---------- ------------ --------- ------------
Net assets available for benefits $ 165,175 $ 283,638 $ 16,111 $ 53,460 $ 52,485 $ 30,609 $ 601,478
========== ========== ========== ========== ============ ========= ============
The accompanying notes are an integral part of this statement.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION THRIFT PLUS
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
AS OF DECEMBER 31, 1995
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income Loan
Fund Stock Fund Fund Fund Fund Fund Total
--------- ------------ --------- ------------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS
Investment Contracts,
at contract value $9,139 $ -- $ -- $ -- $ -- $ -- $9,139
Common stock, 11,123 shares,
at market value (cost of $172,468) -- 310,067 -- -- -- -- 310,067
Mutual funds and Common/Collective
trusts, at market value 148,432 -- 12,080 38,500 33,465 -- 232,477
Fixed income temporary investments,
at market value 7,192 4,233 -- -- -- -- 11,425
Loans to participants -- -- -- -- -- 30,247 30,247
-------- -------- ------- ------- ------- -------- --------
164,763 314,300 12,080 38,500 33,465 30,247 593,355
-------- -------- ------- ------- ------- -------- --------
CURRENT ASSETS
Accounts receivable
Participants 193 437 27 119 89 -- 865
Employer 87 186 11 45 35 -- 364
Accrued interest 1,212 1 -- -- -- -- 1,213
-------- -------- ------- ------- ------- -------- --------
1,492 624 38 164 124 -- 2,442
-------- -------- ------- ------- ------- -------- --------
Total Assets 166,255 314,924 12,118 38,664 33,589 30,247 595,797
-------- -------- ------- ------- ------- -------- --------
LIABILITIES
Purchases pending settlement 94 57 23 141 153 -- 468
Accrued expenses 40 79 3 12 8 -- 142
Loans payable -- -- -- -- -- 1,422 1,422
-------- -------- ------- ------- ------- -------- --------
Total Liabilities 134 136 26 153 161 1,422 2,032
-------- -------- ------- ------- ------- -------- --------
Net assets available for benefits $166,121 $314,788 $12,092 $38,511 $33,428 $28,825 $593,765
======== ======== ======= ======= ======= ======== ========
The accompanying notes are an integral part of this statement.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION THRIFT PLUS
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1996
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income Loan
Fund Stock Fund Fund Fund Fund Fund Total
--------- ------------ --------- ------------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
STATEMENT OF CHANGES
IN NET ASSETS
Balance, beginning of year $166,121 $314,788 $12,092 $38,511 $33,428 $28,825 $593,765
--------- --------- -------- -------- -------- ------- ---------
ADDITIONS
Contributions
Participants 4,688 10,710 739 3,370 2,727 -- 22,234
Employers 2,156 4,649 280 1,265 1,049 -- 9,399
Net earnings/(loss) 7,869 (4,884) 1,994 6,825 7,845 2,626 22,275
--------- --------- -------- -------- -------- ------- ---------
Total additions 14,713 10,475 3,013 11,460 11,621 2,626 53,908
--------- --------- -------- -------- -------- ------- ---------
Interfund transfers (1,198) (17,358) 2,047 5,753 10,318 438 --
DEDUCTIONS
Cash distributions 14,461 18,561 1,041 2,264 2,882 1,280 40,489
Distribution of securities -- 5,706 -- -- -- -- 5,706
--------- --------- -------- -------- -------- ------- ---------
Total distributions 14,461 24,267 1,041 2,264 2,882 1,280 46,195
--------- --------- -------- -------- -------- ------- ---------
Balance, end of year $165,175 $283,638 $16,111 $53,460 $52,485 $30,609 $601,478
========= ========= ======== ======== ======== ======= =========
DETAIL OF NET EARNINGS
Dividends $ -- $19,250 $919 $3,480 $3,745 $ -- $27,394
Interest income 7,342 148 -- -- -- -- 7,490
Interest income on loans -- -- -- -- -- 2,626 2,626
Realized gain/(loss) on common stock -- (7) -- -- -- -- (7)
Realized gain/(loss) on sales of
investments (1,672) (379) (13) 640 1,269 -- (155)
Current year unrealized appreciation
(depreciation) 2,748 (23,403) 1,108 2,774 2,891 -- (13,882)
Expenses (549) (493) (20) (69) (60) -- (1,191)
--------- --------- -------- -------- -------- ------- ---------
Net earnings/(loss) $7,869 $(4,884) $1,994 $6,825 $7,845 $2,626 $22,275
========= ========= ======== ======== ======== ======= =========
The accompanying notes are an integral part of this statement.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION THRIFT PLUS
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1995
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income Loan
Fund Stock Fund Fund Fund Fund Fund Total
--------- ------------ --------- ------------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
STATEMENT OF CHANGES
IN NET ASSETS
Balance, beginning of year $158,268 $248,403 $9,203 $26,647 $21,596 $22,648 $486,765
--------- --------- -------- -------- -------- ------- ---------
ADDITIONS
Contributions
Participants 5,358 12,055 692 2,891 2,134 -- 23,130
Employers 2,384 5,095 269 1,095 825 -- 9,668
Net earnings 11,934 76,390 1,872 7,706 7,472 2,155 107,529
--------- --------- -------- -------- -------- ------- ---------
Total additions 19,676 93,540 2,833 11,692 10,431 2,155 140,327
--------- --------- -------- -------- -------- ------- ---------
Interfund transfers 550 (10,494) 466 1,114 2,476 5,888 --
DEDUCTIONS
Cash distributions 12,373 11,749 410 942 1,075 1,866 28,415
Distribution of securities -- 4,912 -- -- -- -- 4,912
--------- --------- -------- -------- -------- ------- ---------
Total distributions 12,373 16,661 410 942 1,075 1,866 33,327
--------- --------- -------- -------- -------- ------- ---------
Balance, end of year $166,121 $314,788 $12,092 $38,511 $33,428 $28,825 $593,765
========= ========= ======== ======== ======== ======= =========
DETAIL OF NET EARNINGS
Dividends $ -- $18,858 $738 $1,503 $1,918 $ -- $23,017
Interest income 6,888 220 -- -- -- -- 7,108
Interest income on loans -- -- -- -- -- 2,155 2,155
Realized gain on common stock -- 541 -- -- -- -- 541
Realized gain on sales of investments 3,037 941 164 2,602 959 -- 7,703
Current year unrealized appreciation 2,437 56,206 984 3,643 4,628 -- 67,898
Expenses (428) (376) (14) (42) (33) -- (893)
--------- --------- -------- -------- -------- ------- ---------
Net earnings $11,934 $76,390 $1,872 $7,706 $7,472 $2,155 $107,529
========= ========= ======== ======== ======== ======= =========
The accompanying notes are an integral part of this statement.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION THRIFT PLUS
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1994
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income Loan
Fund Stock Fund Fund Fund Fund Fund Total
--------- ------------ --------- ------------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
STATEMENT OF CHANGES
IN NET ASSETS
Balance, beginning of year $164,149 $297,246 $7,566 $23,140 $18,706 $24,353 $535,160
--------- --------- ------- -------- -------- -------- ---------
ADDITIONS
Contributions
Participants 5,424 12,332 674 2,665 1,946 -- 23,041
Employers 2,367 5,127 247 976 717 -- 9,434
Net earnings / (loss) 7,387 (56,970) (42) (131) (214) 1,475 (48,495)
--------- --------- ------- -------- -------- -------- ---------
Total additions 15,178 (39,511) 879 3,510 2,449 1,475 (16,020)
--------- --------- ------- -------- -------- -------- ---------
Transfers to/from loan fund, net (264) 1,718 85 310 192 (2,041) --
Transfers of participant balances (8,699) 5,132 1,098 1,210 1,259 -- --
DEDUCTIONS
Cash distributions 12,096 7,400 425 1,523 1,010 1,139 23,593
Distribution of securities -- 8,782 -- -- -- -- 8,782
--------- --------- ------- -------- -------- -------- ---------
Total distributions 12,096 16,182 425 1,523 1,010 1,139 32,375
--------- --------- ------- -------- -------- -------- ---------
Balance, end of year $158,268 $248,403 $9,203 $26,647 $21,596 $22,648 $486,765
========= ========= ======= ======== ======== ======== =========
DETAIL OF NET EARNINGS
Dividends $ -- $17,292 $481 $1,003 $1,273 $ -- $20,049
Interest income 8,218 163 2 6 5 1 8,395
Interest income on loans -- -- -- -- -- 1,474 1,474
Realized (loss) on common stock -- (2,942) -- -- -- -- (2,942)
Realized (loss) on sales of investments (1,982) -- (6) (16) (11) -- (2,015)
Current year unrealized appreciation/
(depreciation) 1,151 (71,483) (519) (1,124) (1,481) -- (73,456)
--------- --------- ------- -------- -------- -------- ---------
Net earnings / (loss) $7,387 $(56,970) $(42) $(131) $(214) $1,475 $(48,495)
========= ========= ======= ======== ======== ======== =========
The accompanying notes are an integral part of this statement.
</TABLE>
<PAGE>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS
NOTES TO FINANCIAL STATEMENTS
(1) DESCRIPTION OF THE PLAN
The Central and South West Corporation (CSW or Corporation) Employees'
Thrift Plan (Thrift Plan) was adopted by the Corporation effective December 22,
1959, and was renamed "Central and South West Corporation Thrift Plus" (Thrift
Plus), effective January 1, 1991. The following Central and South West System
companies are participating employers in Thrift Plus:
Central Power and Light Company (CPL)
Public Service Company of Oklahoma (PSO)
Southwestern Electric Power Company (SWEPCO)
West Texas Utilities Company (WTU)
Transok, Inc. (TOK)
Central and South West Services, Inc. (CSWS)
CSW Energy (CSWE)
CSW Communications (CSWC)
EnerShop
The following description of Thrift Plus provides only general information.
Participants should refer to the plan document for a more complete description
of the Thrift Plus provisions.
Administration
Thrift Plus is administered by the Corporation's plan administrator as directed
by the Benefits Advisory Committee. The Benefits Advisory Committee consists of
the Chairman, President and Chief Executive Officer; Executive Vice President,
President and Chief Executive Officer, CSW Enterprises; Executive Vice
President, President and Chief Executive Officer, CSW Electric; Senior Vice
President and Chief Financial Officer; Senior Vice President and General
Counsel; and the President and Chief Executive Officers of CPL, PSO, SWEPCO,
WTU, and other persons the Chief Executive Officer of the Corporation may
appoint. Thrift Plus assets are managed by the Investment Policy Committee and
Investment Committee. The Investment Policy Committee is comprised of the
Chairman, President and Chief Executive Officer; Executive Vice President,
President and Chief Executive Officer, CSW Enterprises; Executive Vice
President, President and Chief Executive Officer, CSW Electric; Senior Vice
President and Chief Financial Officer; and Senior Vice President and General
Counsel; Senior Vice President of Corporate Development; and Senior Vice
President for Government Regulation/External Communications. The Investment
Committee is comprised of the Senior Vice President and Chief Financial Officer;
Treasurer; Controller; Vice President of Legal Services and Corporate Secretary;
Senior Vice President of Corporate Development; Vice President of Mergers and
Acquisitions; Vice President of Human Resources; and Director of Trusts and
Investments of the Corporation. No member of these Committees may receive any
compensation for their services in that capacity.
Thrift Plus assets are held in a tax exempt trust at Mellon Trust. Mellon
Trust serves as trustee for Thrift Plus.
Participation
Any employee of the participating employers is eligible to become a
voluntary participant once they have attained the age of 21 and have completed
12 months of service during which they have worked at least 1,000 hours. At
December 31, 1996 and 1995, there were 8,250 and 8,671 participants in Thrift
Plus, respectively.
<PAGE>
Participants' and Employers' Contributions
Generally, eligible employees electing to participate in Thrift Plus may
make contributions in 1% increments up to 12% of their salary. The employers
contribute an amount equal to 50% of the first 6% contribution made by each
participating employee with less than 20 years of service and 75% of the first
6% contribution made by each participating employee with 20 years or more of
service, subject to certain other limitations. No employer contributions are
made with respect to participants' contributions in excess of 6%. Participants
can elect to place their deposits and employer contributions in a Fixed Income
Fund, CSW Corporation Stock Fund, Asset Allocation Fund, Growth and Income Fund,
or Capital Appreciation Fund. All contributions are deposited to the trust after
each pay period. The Tax Reform Act of 1986 restricts the amount that certain
participants, which it deems highly compensated, may contribute to Thrift Plus.
During 1994, participants were allowed to change investment elections, change
contribution percentages, or move existing fund balances once per calendar
quarter. Beginning in 1995, participants are allowed to make these changes on a
daily basis.
Forfeitures of the employers' contributions resulting from termination of
participation in Thrift Plus without a fully vested interest are used by the
employers to reduce their future contributions. Forfeitures are reinstated if
the participant is re-employed by the employer and returns to Thrift Plus within
five years. The amount of forfeitures for the years ended December 31, 1996,
1995 and 1994 were $57,345, $30,250, and $45,370, respectively.
Net contributions made by the employers and the participating employees to
Thrift Plus for the years ended December 31, 1996, 1995, and 1994, were
approximately $31,600,000, $32,800,000, and $32,500,000, respectively.
Vesting
Participants are immediately vested in their own contributions, both pre-tax
and after-tax, plus any actual earnings thereon. Vesting in the employer
matching contributions and the investment earnings thereon results when one of
the following events occurs: (i) 36 monthly (not necessarily consecutive)
deposits into the plan, or (ii) completion of five years of service with a
participating employer, or (iii) terminate employment after reaching age 55, or
(iv) have received (or were eligible to receive) benefits for 12 months under
the Employees' Disability Income Plan, or (v) die.
Distributions and Withdrawals
A participant's account shall be distributed at the option of the
participant, to the participant or the participant's designated beneficiary,
upon termination of employment or death. In the event of termination of a
participant's employment before reaching age 55, other than by death, there
shall be available to the participant for distribution (i) in the case of a
participant who had made 36 monthly contributions under Thrift Plus or completed
five years of service, whichever shall occur first, the entire balance of their
account, whether attributable to the participant's or the employer's
contributions; or (ii) in the case of a participant who has not fulfilled these
requirements, only the balance of the Thrift Plus account attributable to the
participant's own contributions and the earnings thereon.
A participant may make withdrawals at any time from any remaining
contributions previously made, but not exceeding the entire balance in the
account. Employer contributions credited to a participating employee's account
and the earnings thereon may not be withdrawn by or paid to the employee except
upon termination as described above or unless the employee has attained the age
of 59 1/2. For discussion of taxability of withdrawals from Thrift Plus, see
Federal Income Taxes Note.
<PAGE>
Plan Amendments
Amendment # 7 was adopted by Thrift Plus on December 9, 1994. This amendment
was added to facilitate the plan's change to daily valuation beginning in 1995.
Administrative changes include a shortened cycle for withdrawals, loans and
distributions; shortened cycle for the deposit of employee contributions;
paperless loans, telephone initiated loans, investment changes and balance
inquiries; removal of restrictions on the frequency of investment changes and
withdrawals; allows for partial withdrawals for retirees age 55 and over, and
plan participants will now be responsible for payment of plan expenses.
(2) SUMMARY OF ACCOUNTING POLICIES
Basis of Accounting
These financial statements are prepared on the accrual basis of accounting
and the investments of Thrift Plus are stated at market value as determined by
quoted market prices. Amounts due from insurance companies under guaranteed
investment contracts are stated at values pursuant to the contracts.
Use of Estimates
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.
Stock Purchases
Shares of CSW Corporation stock for Thrift Plus are purchased in the open
market, by private purchase from the Corporation, by matching purchases and
sales directed by two or more Thrift Plus participants (or their beneficiaries)
or otherwise, as the Thrift Plus trustee, Mellon Bank, may determine. The
trustee, at its discretion, may time the execution of purchase orders for the
purpose of limiting or spreading daily volume of purchases, as it shall deem in
the best interest of the participants.
Expenses
Beginning in 1995, the administrative expenses and trustee fees are paid by
Thrift Plus and not by the participating employers. Prior to 1995, all
administrative expenses and trustee fees were paid by the participating
employers. Thrift Plus did not incur a liability to reimburse the employers for
those expenses paid on behalf of Thrift Plus.
Holding Account
To expedite processing in the daily valuation environment, a holding
account was established within Thrift Plus to facilitate the daily transfer
activity associated with Thrift Plus such as contributions, distributions, and
forfeitures. At December 31, 1996 there was approximately $2.1 million in the
account which represents the following items: $1.6 million attributable to
outstanding participant distributions, $200,000 of short-term earnings of the
account, $200,000 of miscellaneous reconciling items, and $100,000 of
forfeitures not yet used to offset participating employer's contributions. There
were no contributions remaining in the holding account at December 31, 1996 that
had not been applied to participant's balances.
<PAGE>
Federal Income Taxes
A favorable determination letter was received from the IRS on August 17,
1992, subject to some technical language modifications. The qualification of
Thrift Plus has the following consequences under applicable federal income tax
laws: (a) the employers are entitled to deduct their contributions to Thrift
Plus in computing their federal income taxes; (b) the income of the trust funds
accumulated under Thrift Plus is exempt from federal income tax prior to
distribution; (c) participating employees are not subject to tax on amounts
contributed by them or the employers for the participant's benefit until such
time as such amounts are distributed to them; and (d) upon distribution of a
participant's account, the participant, or designated beneficiary, is taxed as
provided in Section 402 of the Code.
As a result of recent amendments to Thrift Plus, the plan sought an updated
determination letter. A favorable determination letter was received from the IRS
on October 26, 1994 that covers plan amendments through that date. Thrift Plus
has been amended since receiving the determination letter. However, the plan
administrator and legal counsel believe that Thrift Plus is currently being
operated within the applicable requirements of the Code. Therefore, Thrift Plus
and the related trust are exempt from taxation under Sections 401(a) and 501(a)
of the Code.
(3) TERMINATION OF PARTICIPATING EMPLOYER
Effective June 6, 1996 Central and South West Corporation sold Transok Inc.,
a participating employer, to Tejas Gas Corporation. Active participation in
Thrift Plus ended on this date for all plan participants employed by Transok. On
that date all participants employed by Transok, Inc. became 100% vested in their
balances. Transok employees will be able to leave their current balances in
Thrift Plus if they so desire, however, they will no longer be allowed to make
any future contributions to the plan. The plan sponsor does not anticipate any
adverse or material effects to Thrift Plus due to this sale.
(4) INVESTMENT OPTIONS
Fixed Income Fund
Amounts allotted to this fund are invested in fixed income securities such
as guaranteed investment contracts, temporary cash investments, government
obligations and other fixed income securities that have been selected by the
Investment Committee.
In 1990, Thrift Plus entered into a guaranteed investment contract with The
Travelers Insurance Company (The Travelers). In accordance with the terms of
this contract, approximately $2.5 million of principal matured in 1996 and has
been reinvested in various other fixed income investments. The guaranteed
investment contract generated a rate of return during the plan years ended
December 31, 1996 and 1995 of 6.48% and 6.42%, respectively. The investment
contract is included in the financial statements at contract value, which
approximates fair value, as reported by The Travelers. Contract value represents
contributions made under the contract, plus earnings, less any contract
administration charges. There has not been any valuation reserve established
against the contract value of the guaranteed investment contract.
At December 31, 1996 and 1995, there were 5,338 and 5,809 participants
respectively, with investments of varying portions in this fund.
<PAGE>
CSW Corporation Stock Fund
This fund invests in CSW Corporation common stock. CSW Corporation common
stock held by the fund at December 31, 1996, was approximately 10,917,000
shares. The share price of CSW Corporation common stock at December 31, 1996,
1995, and 1994 was $25.625, $27.875, and $22.625, respectively. In 1994, the
fund enrolled in the CSW PowerShareSM Dividend Reinvestment and Stock Purchase
Plan with the intention of reducing the administrative expenses of the plan
associated with the payment of dividends.
At December 31, 1996 and 1995, there were 7,035 and 7,508 participants
respectively, with investments of varying portions in this fund.
Capital Appreciation Fund
This fund invests in mutual funds that have a goal of long-term growth with
no emphasis on current income. The mutual funds purchase stocks of rapidly
growing companies or companies with the potential for exceptional growth.
At December 31, 1996 and 1995, there were 3,226 and 2,938 participants
respectively, with investments of varying portions in this fund.
Growth and Income Fund
This fund invests in mutual funds whose goal is both growth and current
income. These mutual funds purchase stocks of growing companies as well as those
whose share price has increased while paying steady dividends.
At December 31, 1996 and 1995, there were 3,013 and 2,508 participants
respectively, with investments of varying portions in this fund.
Asset Allocation Fund
This fund invests in equity mutual funds and a fixed income corporate bond
fund. The allocation between the equity mutual funds and fixed income corporate
bond fund may be shifted from time to time based on the attractiveness of the
stock market.
At December 31, 1996 and 1995, there were 1,321 and 1,202 participants
respectively, with investments of varying portions in this fund.
Loan Fund
This fund allows participants to borrow against their account balances. The
maximum loan amount permitted is the lesser of (1) 50% of a participant's vested
account balance or (2) $50,000. Each loan to a participant is evidenced by a
written promissory note held by the employer.
Loans to participants are taken from their contributions by an account
hierarchy that has been established to provide the employee with the most
beneficial tax treatment and are taken from the investment funds in proportion
to the existing fund balances at the time of the request. Repayment terms vary
from one to five years for general purpose loans and one to fifteen years for
home loans. The interest rate for loans is set periodically by the Corporation
and is fixed for the term of the loan. The average rate in 1996, 1995, and 1994
were 9.3125%, 9.8125% and 7.8125% respectively. Payments of principal and
interest are credited to each investment fund based on the employee's investment
election at the time of repayment.
<PAGE>
(5)INVESTMENTS
The fair market values of individual assets that represent 5% or more of the
Thrift Plus net assets as of December 31, 1996 and 1995, are as follows (in
thousands):
1996:
Central and South West Corporation Common Stock $279,744
Loan Fund - Participant Loans Outstanding 30,609
1995:
Central and South West Corporation Common Stock $310,067
Loan Fund - Participant Loans Outstanding 30,247
(6) RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for benefits per
the financial statements to the Form 5500 (in thousands):
December 31,
1996 1995
Net assets available for benefits,
per the financial statements $601,478 $593,765
Amounts allocated to withdrawing participants (1,427) (1,065)
Net assets available for benefits,
per the Form 5500 $600,051 $592,700
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500 (in thousands):
Year Ended
December 31, 1996
Benefits paid per the financial statements $46,195
Amounts allocated to withdrawing participants,
at December 31, 1996 1,427
Amounts allocated to withdrawing participants,
at December 31, 1995 (1,065)
Benefits paid to participants per the Form 5500 $ 46,557
Amounts allocated to withdrawing participants are recorded on the Form 5500
for benefit claims that have been processed and approved for payment prior to
December 31 but not yet paid as of that date.
(7) PLAN TERMINATION
Although it has not expressed any intent to do so, the Corporation has the
right under Thrift Plus to discontinue its contributions at any time and to
terminate Thrift Plus subject to the provisions of ERISA. In the event of
termination of Thrift Plus, participants will become 100 percent vested in their
accounts.
<PAGE>
(8) REALIZED AND UNREALIZED APPRECIATION/(DEPRECIATION)
In accordance with Department of Labor regulations, the method of
calculating realized and unrealized appreciation/(depreciation) for financial
reporting purposes is based on the value of the assets at the beginning of the
plan year or at the time of purchase during the year (revalued cost).
Net Realized Gain/(Loss) on Disposition of Investments
The following sets forth the realized gains and losses of Thrift Plus
investments for the years ended December 31, 1996, 1995 and 1994:
<TABLE>
<CAPTION>
1996
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
<S> <C> <C> <C> <C> <C>
Proceeds from disposition $ 144,493 $ 41,408 $ 3,001 $ 12,453 $ 14,653
Revalued cost 146,165 41,794 3,014 11,813 13,384
---------- ------------ ----------- ------------ ----------
Net realized gain/(loss) $ (1,672) $ (386) $ (13) $ 640 $ 1,269
========== ============ =========== ============ ==========
1995
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
Proceeds from disposition $ 141,789 $ 11,636 $ 3,420 $ 17,805 $ 5,185
Revalued cost 138,752 10,154 3,256 15,203 4,226
---------- ------------ ----------- ----------- ---------
Net realized gain $ 3,037 $ 1,482 $ 164 $ 2,602 $ 959
========== ============ =========== =========== =========
1994
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
Proceeds from disposition $ 74,899 $ 8,782 $ 169 $ 8,660 $ 488
Revalued cost 76,881 11,724 175 8,676 499
---------- ------------ ----------- ------------ ----------
Net realized (loss) $ (1,982) $ (2,942) $ (6) $ (16) $ (11)
========== ============ =========== ============ ==========
</TABLE>
<PAGE>
Unrealized Appreciation/(Depreciation) on Investments
The following sets forth the fair market value, revalued cost and current
year unrealized appreciation/(depreciation) of Thrift Plus investments for the
years ended December 31, 1996, 1995, and 1994:
<TABLE>
<CAPTION>
1996
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
<S> <C> <C> <C> <C> <C>
Fair market value at
December 31, 1996: $ 164,172 $ 283,125 $ 16,070 $ 53,273 $ 52,322
Revalued cost at
December 31, 1996: 161,424 306,528 14,962 50,499 49,431
---------- ----------- ---------- ----------- ---------
Current year unrealized
appreciation/(depreciation): $ 2,748 $ (23,403) $ 1,108 $ 2,774 $ 2,891
========== =========== ========== =========== =========
1995
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
Fair market value at
December 31, 1995: $ 164,762 $ 314,300 $ 12,080 $ 38,500 $ 33,465
Revalued cost at
December 31, 1995: 162,325 258,094 11,096 34,857 28,837
---------- ------------ ----------- ------------ ----------
Current year unrealized
appreciation: $ 2,437 $ 56,206 $ 984 $ 3,643 $ 4,628
========== ============ =========== ============ ==========
1994
- -----------------------------------------------------------------------------------------------
(in thousands)
Fixed CSW Asset Capital Growth and
Income Corporation Allocation Appreciation Income
Fund Stock Fund Fund Fund Fund
---------- ------------ ----------- ------------ ----------
Fair market value at
December 31, 1994: $ 157,090 $ 247,138 $ 9,141 $ 26,380 $ 21,405
Revalued cost at
December 31, 1994: 155,939 318,621 9,660 27,504 22,886
---------- ------------ ----------- ------------ ----------
Current year unrealized
appreciation/(depreciation): $ 1,151 $ (71,483) $ (519) $ (1,124) $ (1,481)
========== ============ =========== ============ ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
GUARANTEED INVESTMENT CONTRACT:
TRAVELERS INSURANCE GROUP GIC CONTRACT #GR-15049 RATE 9.04%
MATURITY DATE 01/31/95-01/31/99 $ 7,091 $ 7,091
------- -------
TOTAL $ 7,091 $ 7,091
------- -------
U.S. GOVERNMENT SECURITIES:
FEDERAL HOME LOAN MTG CORP. GTD MTG PARTN CTFS SER 1615 CL E DTD 11-1-93 REG
MULTICLASS MATURITY DATE 08-15-06, RATE 5.30% $ 939 $ 975
FEDERAL HOME LOAN MTG CORP. GTD MTG PARTN CTFS SER 1614 CL G DTD 11-1-93 REG
MULTICLASS MATURITY DATE 02-15-19, RATE 5.80% 359 394
FEDERAL HOME LOAN MTG CORP. GTD MTG PARTN CTFS SER 1472 CL 1472-E DTD 3-1-93 REG
MULTICLASS MATURITY DATE 02-15-05, RATE 6.25% 995 1,000
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GOLD POOL #G1-0011 DTD 6-1-91
MATURITY DATE 02-01-06, RATE 10.00% 997 988
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GOLD POOL #G1-0453 DTD 2-1-96
MATURITY DATE 06-01-07, RATE 9.00% 849 830
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GROUP #20-0112 DTD 7-1-94 REG MATURITY DATE 11-01-05,
RATE 9.500% 836 818
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GOLD POOL #B0-0455 DTD 11-1-94
MATURITY DATE 12-01-03, RATE 9.00% 1,116 1,114
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GOLD POOL #B0-0511 DTD 5-1-95
MATURITY DATE 05-01-06, RATE 9.50% 606 610
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GROUP #18-5467 DTD 8-1-83 REG MATURITY DATE 06-01-03
RATE 6.750% 280 279
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GROUP #25-0134 DTD 10-01-84 REG MATURITY DATE 06-01-03
RATE 6.750% 465 463
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GOLD POOL #504019 DTD 11-1-96
MATURITY DATE 03-01-06, RATE 9.00% $ 814 $ 809
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GROUP #17-0128 DTD 6-1-85 REG MATURITY DATE 06-01-15,
RATE 11.500% 119 122
FEDERAL HOME LOAN MTG CORP MTG PTC CTF GROUP #54-6107 DTD 3-1-90 REG MATURITY DATE 01-01-16,
RATE 11.250% 210 210
F N M A GTD REMIC PASS THRU CTF SER 95 CL Z DTD 7-1-91, REG
MATURITY DATE 11-25-05, RATE 8.5% 1,117 1,115
FEDERAL NATL MTG ASSN DEBS DTD 11-10-87 REG MATURITY DATE 11-10-97
RATE 9.55%. 2,150 2,062
FEDERAL NATL MTG ASSN DEBS DTD 9-10-91 REG MATURITY DATE 09-10-98
RATE 7.85%. 2,131 2,060
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #50780 DTD 08-1-93 REG MATURITY DATE 08-01-00,
THRU CTF RATE 6.000%. 1,715 1,681
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #55535 DTD 10-1-87 REG MATURITY DATE 01-01-01,
THRU CTF RATE 11.500%. 68 67
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #70722 DTD 01-01-91 REG MATURITY DATE 01-01-06,
THRU CTF RATE 9.000%. 757 751
F N M A GTD REMIC PASS THRU CTF SER 40 CL D DTD 12-1-93, REG
MATURITY DATE 7-25-16, RATE 5.7% 689 684
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #50412 DTD 03-01-91 REG MATURITY DATE 03-01-06,
THRU CTF RATE 9.000% 806 806
FEDERAL NATL MTG ASSN MEDIUM TERM NTS DTD 10-14-94 REG MATURITY DATE 10-14-97, RATE 7.09% 2,505 2,522
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #124253 DTD 03-01-92 REG MATURITY DATE 03-01-07,
THRU CTF RATE 9.50% 799 795
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #124593 DTD 12-01-92 REG MATURITY DATE 12-01-99,
THRU CTF RATE 7.00% $ 2,241 $ 2,201
FEDERAL NATL MTG ASSN GTD MTG PASS POOL #124674 DTD 02-01-93 REG MATURITY DATE 02-01-00
THRU CTF RATE 7.00% 2,238 2,198
GOVT NATL MTG ASSN MODIFIED PASS POOL #40476 DTD 4-1-80 REG MATURITY DATE 03-15-10,
THRU CTF RATE 11.500% 161 158
GOVT NATL MTG ASSN MODIFIED PASS POOL #57188 DTD 5-1-83 REG MATURITY DATE 05-15-13
THRU CTF RATE 11.500% 127 126
GOVT NATL MTG ASSN MODIFIED PASS POOL #58631 DTD 4-1-83 REG MATURITY DATE 03-15-13,
THRU CTF RATE 11.500% 40 40
GOVT NATL MTG ASSN MODIFIED PASS POOL #61340 DTD 2-1-83 REG MATURITY DATE 02-15-13,
THRU CTF RATE 11.500% 155 154
GOVT NATL MTG ASSN MODIFIED PASS POOL #64555 DTD 9-1-83 REG MATURITY DATE 09-15-13,
THRU CTF RATE 11.500% 39 39
GOVT NATL MTG ASSN MODIFIED PASS POOL #71263 DTD 7-1-83 REG MATURITY DATE 07-15-13,
THRU CTF RATE 11.500% 44 45
GOVT NATL MTG ASSN MODIFIED PASS POOL #780306 DTD 1-1-96 REG MATURITY DATE 01-15-06,
THRU RATE 9.000% 902 909
GOVT NATL MTG ASSN MODIFIED PASS POOL #780328 DTD 2-1-96 REG MATURITY DATE 10-15-06,
THRU RATE 10.000% 831 812
GOVT NATL MTG ASSN MODIFIED PASS POOL #780455 DTD 10-1-96 REG MATURITY DATE 12-15-16,
THRU RATE 11.500% 858 867
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
GOVT NATL MTG ASSN MODIFIED PASS POOL #140158 DTD 9-1-85 REG MATURITY DATE 09-15-15,
THRU CTF RATE 11.500% $ 28 $ 28
GOVT NATL MTG ASSN MODIFIED PASS POOL #144095 DTD 11-1-85 REG MATURITY DATE 11-15-15,
THRU CTF RATE 11.500% 5 5
USA TREAS NTS DTD 11-30-94 MATURITY DATE 11-30-99, RATE 7.750% 1,549 1,546
USA TREAS NTS DTD 01-15-92 MATURITY DATE 01-15-99, RATE 6.375% 2,710 2,745
USA TREAS NTS DTD 11-01-93 MATURITY DATE 10-31-98, RATE 4.750% 3,183 3,257
USA TREAS NTS DTD 11-30-93 MATURITY DATE 11-30-98, RATE 5.125% 2,914 2,939
USA TREAS NTS DTD 09-30-94 MATURITY DATE 09-30-99, RATE 7.125% 7,527 7,553
USA TREAS NTS DTD 11-15-96 MATURITY DATE 11-15-99, RATE 5.875% 3,016 2,988
USA TREAS NTS DTD 11-15-94 MATURITY DATE 11-15-97, RATE 7.375% 5,924 5,864
USA TREAS NTS DTD 12-02-96 MATURITY DATE 11-30-98, RATE 5.625% 400 398
USA TREAS NTS DTD 11-15-87 MATURITY DATE 11-15-97, RATE 8.875% 7,460 7,188
USA TREAS NTS DTD 11-24-95 MATURITY DATE 11-15-98, RATE 5.50% 9,313 9,440
------ ------
TOTAL $72,987 $72,655
------ ------
COMMON/COLLECT TRUST FUNDS:
AMERITRUST MAGIC FUND $22,476 $29,547
IDS TRUST COLLECTIVE INCOME FUND II 20,134 22,671
THE LASALLE NATIONAL TRUST INCOME PLUS FUND 26,075 26,075
------ ------
TOTAL $68,685 $78,293
------ ------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
OTHER:
* MELLON BANK EB TEMPORARY INVESTMENT FUND, RATE 5.51% $ 6,133 $ 6,133
------ -------
TOTAL $ 6,133 $ 6,133
------ -------
TOTAL FIXED FUND INVESTMENTS: GENERAL INVESTMENTS $154,896 $164,172
======= =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CSW CORPORATION STOCK FUND
AS OF DECEMBER 31, 1996
(in thousands except share and par value amounts)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
COMMON STOCK:
* CENTRAL & SOUTH WEST CORPORATION 10,916,833.545 SHARES COMMON STOCK, $195,161 $279,744
$3.50 PAR VALUE
* MELLON BANK EB TEMPORARY INVESTMENT FUND, RATE 5.51% 3,381 3,381
------- -------
TOTAL GENERAL INVESTMENTS $198,542 $283,125
======= =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
ASSET ALLOCATION FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
INTEREST IN REGISTERED
INVESTMENT COMPANIES:
WANGER ASSET MANAGEMENT, L.P. ACORN FUND #5600008899 $ 1,151 $ 1,336
VENTURE ADVISORS DAVIS NEW YORK VENTURE FUND #25-2119060982 2,490 3,487
THE VANGUARD GROUP VANGUARD S/T CORPORATE BOND FUND #9876566232 6,892 6,870
AMERICAN FUNDS SERVICE COMPANY EUROPACIFIC GROWTH FUND #59078586 2,153 2,495
AMERICAN FUNDS SERVICE COMPANY WASHINGTON MUTUAL FUND #58483115-01 1,512 1,882
------- -------
TOTAL GENERAL INVESTMENTS $14,198 $16,070
======= =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CAPITAL APPRECIATION FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
INTEREST IN REGISTERED
INVESTMENT COMPANIES:
THE JANUS FUND JANUS FUND #42-200208624-0 $ 14,607 $ 17,360
NEUBERGER & BERMAN EQUITY TRUST GUARDIAN TRUST FUND #0000584 15,792 17,931
TWENTIETH CENTURY INVESTORS TWENTIETH CENTURY INVESTORS ULTRA #22001330733 16,788 17,982
------- -------
TOTAL GENERAL INVESTMENTS $47,187 $ 53,273
====== =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
GROWTH AND INCOME FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
INTEREST IN REGISTERED
INVESTMENT COMPANIES:
AMERICAN FUNDS SERVICE COMPANY AMERICAN MUTUAL FUND #58338376-03 $ 14,823 $ 16,653
WADDELL & REED UNITED INCOME FUND #21281167-621 13,554 17,366
THE VANGUARD GROUP WINDSOR II FUND #9846629536 16,576 18,303
------- -------
TOTAL GENERAL INVESTMENTS $ 44,953 $ 52,322
======= =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
Line 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
LOAN FUND
AS OF DECEMBER 31, 1996
(in thousands)
EIN: 51-0007707
(a) (b) (c) (d) (e)
PARTY-IN- COST CURRENT
INTEREST IDENTITY OF ISSUE DESCRIPTION VALUE VALUE
<S> <C> <C> <C> <C>
* PARTICIPANT LOANS LOANS TO PARTICIPANTS, INTEREST RATES ON OUTSTANDING
LOANS RANGE FROM 7%-11%. - 30,609
-------- -------
TOTAL GENERAL INVESTMENTS $ $ 30,609
======== =======
TOTAL OF THRIFT PLUS ASSETS HELD
FOR INVESTMENT PURPOSES: $ 459,776 $599,571
======== =======
* COLUMN (A) INDICATES EACH IDENTIFIED PERSON/ENTITY KNOWN TO BE A PARTY-IN-INTEREST.
THIS SUPPLEMENTAL SCHEDULE LISTS ASSETS HELD FOR INVESTMENT PURPOSES AT DECEMBER
31, 1996, AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR
REPORTING AND DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
DLJ Fixed Income USA Treas Nts Dtd 11-2-92 $ 100.92 $14,129,063 $14,129,063
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.34 4,053,750 4,053,750
Maturity 10/31/97 Rate 5.75%
duly authorized.
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.03 5,049,457 5,051,563 $ 2,106
Maturity 10/31/97 Rate 5.75%
Morgan Keegan & Co USA Treas Nts Dtd 11-2-92 101.28 2,173,061 2,177,547 4,486
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.30 2,021,452 2,026,172 4,720
Maturity 10/31/97 Rate 5.75%
Merrill Lynch Pierce USA Treas Nts Dtd 11-2-92 101.29 7,075,081 7,090,781 15,700
Maturity 10/31/97 Rate 5.75%
Equitable Securities Corp USA Treas Nts Dtd 11-2-92 99.57 1,111,798 1,095,359 (16,439)
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.43 606,436 596,625 (9,811)
Maturity 10/31/97 Rate 5.75%
Lehman Brothers Inc USA Treas Nts Dtd 11-2-92 99.62 3,032,178 2,988,750 (43,428)
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.65 404,290 398,625 (5,665)
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.90 15,161 14,986 (175)
Maturity 10/31/97 Rate 5.75%
Salomon Brothers USA Treas Nts Dtd 11-2-92 99.92 742,884 734,426 (8,458)
Maturity 10/31/97 Rate 5.75%
TOTAL 10 SALES: $ 22,231,798 $ 22,174,834
TOTAL 2 PURCHASES: $ 18,182,813 $ 18,182,813
Prudential Securities Inc Federal Home Loan Bank Cons Bds 101.01 3,973,750 4,040,625 66,875
Dtd 10-25-94 Maturity 10/25/96
Rate 6.69%
Prudential Securities Inc Federal Home Ln Mtg Corp Deb
Dtd 1-12-95 Maturity 1/13/97
Rate 7.91% 102.50 7,386,525 7,431,250 44,725
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Prudential Securities Inc USA Treas Nts Dtd 1-15-92 $ 99.64 $ 4,982,031 $4,982,031
Maturity 1/15/99 Rate 6.375%
Prudential Securities Inc USA Treas Nts Dtd 9-30-94 101.94 2,854,469 2,854,469
Maturity 9/30/99 Rate 7.125%
Prudential Securities Inc USA Treas Nts Dtd 9-30-94 102.73 1,849,219 1,849,219
Maturity 9/30/99 Rate 7.125%
Prudential Securities Inc USA Treas Nts Dtd 9-30-94 102.84 1,799,766 1,799,766
Maturity 9/30/99 Rate 7.125%
Prudential Securities Inc USA Treas Nts Dtd 11-15-96 100.54 3,016,406 3,016,406
Maturity 11/15/99 Rate 5.875%
Prudential Securities Inc USA Treas Nts Dtd 12-2-96 99.91 399,656 399,656
Maturity 11/30/98 Rate 5.625%
Prudential Securities Inc USA Treas Nts Dtd 8-15-95 $ 101.40 9,523,750 9,633,594 $109,844
Maturity 8/15/98 Rate 5.875%
Prudential Securities Inc USA Treas Nts Dtd 8-15-95 98.84 5,044,070 4,942,188 (101,882)
Maturity 8/15/98 Rate 5.875%
Prudential Securities Inc USA Treas Nts Dtd 8-15-95 99.29 2,824,679 2,780,313 (44,366)
Maturity 8/15/98 Rate 5.875%
Prudential Securities Inc USA Treas Nts Ser C Dtd 11-15-87 103.23 3,197,109 3,097,031 (100,078)
Maturity 11/15/97 Rate 8.875%
Prudential Securities Inc USA Treas Nts Dtd 5-15-96 100.78 3,550,395 3,577,734 27,339
Maturity 5/15/99 Rate 6.375%
Prudential Securities Inc USA Treas Nts Dtd 9-30-96 100.52 300,469 301,570 1,101
Maturity 9/30/98 Rate 6.00%
Prudential Securities Inc USA Treas Nts Dtd 9-30-96 100.74 2,904,531 2,921,523 16,992
Maturity 9/30/98 Rate 6.00%
Prudential Securities Inc USA Treas Nts Dtd 1-15-92 100.80 2,271,806 2,298,347 26,541
Maturity 1/15/99 Rate 6.375%
TOTAL 10 SALES: $29,616,809 $29,552,300
TOTAL 6 PURCHASES: $14,901,547 $14,901,547
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Merrill Lynch Pierce USA Treas Nts Dtd 11-2-92 $ 101.29 $7,075,081 $ 7,090,781 $15,700
Maturity 10/31/97 Rate 5.75%
Merrill Lynch Pierce USA Treas Nts Dtd 11-24-95 100.25 2,500,781 2,506,250 5,469
Maturity 11/15/98 Rate 5.50%
Merrill Lynch Pierce USA Treas Nts Dtd 11-15-94 103.31 846,920 847,163 243
Maturity 11/15/97 Rate 7.375%
Merrill Lynch Pierce USA Treas Nts Dtd 11-15-94 102.55 3,790,485 3,763,757 (26,728)
Maturity 11/15/97 Rate 7.375%
Merrill Lynch Pierce USA Treas Nts Dtd 11-15-94 101.35 1,024,792 1,013,516 (11,276)
Maturity 11/15/97 Rate 7.375%
Merrill Lynch Pierce USA Treas Nts Ser C Dtd 11-15-87 106.57 10,657,031 10,657,031
Maturity 11/15/97 Rate 8.875%
Merrill Lynch Pierce USA Treas Nts Dtd 5-15-96 100.24 551,332 551,332
Maturity 5/15/99 Rate 6.375%
Merrill Lynch Pierce USA Treas Nts Dtd 1-15-91 105.34 7,374,063 7,374,063
Maturity 1/15/98 Rate 7.875%
Merrill Lynch Pierce USA Treas Nts Dtd 11-30-93 98.14 3,798,345 3,798,345
Maturity 11/30/98 Rate 5.125%
TOTAL 5 SALES: $15,238,059 $15,221,467
TOTAL 4 PURCHASES: $22,380,771 $22,380,771
First Boston Corp Federal Natl Mtg Assn Gtd Mtg 102.20 2,620,115 2,620,115
Pass Thru Ctf Pool # 124593
Dtd 12-1-92 Reg Maturity 12/01/99
Rate 7.00%
First Boston Corp Federal Natl Mtg Assn Gtd Mtg 102.20 2,629,330 2,629,330
Pass Thru Ctf Pool # 124674
Dtd 2-1-93 Reg Maturity 02/01/00
Rate 7.00%
First Boston Corp USA Treas Nts Dtd 11-15-94 101.58 5,197,137 5,197,137
Maturity 11/15/97 Rate 7.375%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
First Boston Corp St of Israel Govt Gtd Nts CL 1-A $ 99.75 $3,004,922 $ 2,992,734 $(12,188)
Dtd 3-24-93 Reg Maturity 3/15/96
Rate 4.375%
First Boston Corp USA Treas Nts Dtd 11-30-93 97.13 5,253,490 5,217,003 (36,487)
Maturity 11/30/98 Rate 5.125%
First Boston Corp USA Treas Nts Dtd 6-30-95 100.93 11,042,610 11,103,125 60,515
Maturity 6/30/97 Rate 5.625%
First Boston Corp USA Treas Nts Dtd 8-15-95 99.29 1,563,662 1,539,102 (24,560)
Maturity 8/15/98 Rate 5.875%
TOTAL 4 SALES: $20,864,684 $20,851,964
TOTAL 3 PURCHASES: $10,446,582 $10,446,582
Smith Barney Shearson Inc Federal Natl Mtg Assn Debs Dtd
11-10-87 Maturity 11/10/97
Rate 9.55% 107.51 2,150,200 2,150,200
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.34 4,053,750 4,053,750
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-24-95 98.03 9,312,969 9,312,969
Maturity 11/15/98 Rate 5.50%
Smith Barney Shearson Inc Federal Farm CR Bks Cons Systemwide $ 99.68 511,914 498,438 $(13,476)
Medium-Term Nts Dtd 4/21/93
Reg Maturity 4/21/98 Rate 6.21%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.03 5,049,457 5,051,563 2,106
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 101.30 2,021,452 2,026,172 4,720
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.43 606,436 596,625 (9,811)
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.65 404,290 398,625 (5,665)
Maturity 10/31/97 Rate 5.75%
Smith Barney Shearson Inc USA Treas Nts Dtd 11-2-92 99.90 15,161 14,986 (175)
Maturity 10/31/97 Rate 5.75%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FIXED INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Smith Barney Shearson Inc USA Treas Nts Dtd 6-30-95 $ 100.53 $6,374,597 $ 6,383,734 $9,137
Maturity 6/30/97 Rate 5.625%
Smith Barney Shearson Inc USA Treas Nts Dtd 1-2-96 100.75 4,013,750 4,030,000 16,250
Maturity 12/31/00 Rate 5.50%
TOTAL 8 SALES: $18,997,057 $19,000,143
TOTAL 3 PURCHASES: $15,516,919 $15,516,919
Mellon Bank N A EB Temporary Investment Fund
TOTAL 206 SALES: $ 1.00 $103,365,253 $103,365,253
TOTAL 287 PURCHASES: $ 1.00 $102,305,842 $102,305,842
THIS SUPPLEMENTAL SCHEDULE LISTS REPORTABLE TRANSACTIONS AT DECEMBER 31, 1996,
AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR REPORTING AND
DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
CSW CORPORATION STOCK FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Cantor Fitzgerald & Co Central & South West Corp Del Com $27.37 $2,499.04 $1,712,780 $ 1,712,780
Inc
Non-Broker Trade Central & South West Corp Del Com 27.56 4,842,866 4,842,866
Non-Broker Trade Central & South West Corp Del Com 26.99 2,019,476 2,019,476
Non-Broker Trade Central & South West Corp Del Com 27.06 2,142,701 2,142,701
Non-Broker Trade Central & South West Corp Del Com 27.37 4,828,564 4,828,564
Non-Broker Trade Central & South West Corp Del Com 27.50 3,559,930 3,559,930
Non-Broker Trade Central & South West Corp Del Com 27.37 3,846,598 3,846,598
Non-Broker Trade Central & South West Corp Del Com 26.06 4,791,950 4,791,950
Non-Broker Trade Central & South West Corp Del Com 26.50 4,758,257 4,758,257
Non-Broker Trade Central & South West Corp Del Com 26.12 2,371,575 2,371,575
TOTAL 10 PURCHASES: $34,874,697 $34,874,697
Cantor Fitzgerald & Co Central & South West Corp Del Com $27.12 $3,798 1,263,603 2,020,025 $756,422
Inc
Interstate / Johnson Lane Central & South West Corp Del Com 27.62 2,604 881,967 1,435,968 554,001
Bear Stearns Securities CoCentral & South West Corp Del Com 27.62 3,965 1,331,147 2,146,863 815,716
Jefferies & Co Central & South West Corp Del Com 27.87 2,710 760,479 1,237,170 476,691
Cantor Fitzgerald & Co IncCentral & South West Corp Del Com 28.37 1,527 512,520 849,070 336,550
Cantor Fitzgerald & Co IncCentral & South West Corp Del Com 28.50 1,275 427,770 711,795 284,025
Interstate / Johnson Lane Central & South West Corp Del Com 28.50 834 279,777 465,540 185,763
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
CSW CORPORATION STOCK FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Donaldson, Lufkin & Central & South West Corp Del Com $ 27.37 $ 1,399 $ 392,755 $ 627,459 $234,704
Jenrette
Bear Stearns Securities Central & South West Corp Del Com 27.50 2,273 642,631 1,023,697 381,066
Corp
Lehman Brothers Inc Central & South West Corp Del Com 27.50 1,873 529,255 843,450 314,195
Cantor Fitzgerald & Co Central & South West Corp Del Com 27.12 2,880 974,247 1,531,961 557,714
Inc
Cantor Fitzgerald & Co Central & South West Corp Del Com 27.74 1,512 511,125 822,156 311,031
Inc
Autranet Ltd Central & South West Corp Del Com 28.12 1,797 612,217 990,144 377,927
McDonald & Co Inc Central & South West Corp Del Com 28.41 3,821 1,301,887 2,127,454 825,567
McDonald & Co Inc Central & South West Corp Del Com 28.32 1,883 641,726 1,045,264 403,538
Furman Selz Mager Dietz Central & South West Corp Del Com 28.25 3,118 1,062,478 1,726,008 663,530
Bear Stearns Securities Central & South West Corp Del Com 28.00 1,258 428,725 690,454 261,729
Corp
Autranet Ltd Central & South West Corp Del Com 28.25 2,712 930,352 1,501,374 571,022
Donaldson, Lufkin & Central & South West Corp Del Com 28.37 1,102 377,553 612,394 234,841
Jenrette
Cantor Fitzgerald & Co Central & South West Corp Del Com 28.00 1,074 368,071 589,110 221,039
Inc
Prudential Securities Inc Central & South West Corp Del Com 26.37 1,623 564,912 839,582 274,670
Autranet Ltd Central & South West Corp Del Com 26.62 810 281,781 423,007 141,226
Cantor Fitzgerald & Co Central & South West Corp Del Com 26.37 727 252,821 375,961 123,140
Inc
Cantor Fitzgerald & Co Central & South West Corp Del Com 26.25 1,548 537,902 797,004 259,102
Inc
Autranet Ltd Central & South West Corp Del Com 26.50 445 154,522 231,139 76,617
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
CSW CORPORATION STOCK FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Lehman Brothers Inc Central & South West Corp Del Com $ 27.12 $ 2,071 $ 601,151 $ 920,125 $318,974
Bridge Trading Co Central & South West Corp Del Com 27.12 685 198,975 304,597 105,622
Autranet Ltd Central & South West Corp Del Com 27.50 2,232 775,022 1,203,258 428,236
McDonald & Co Inc Central & South West Corp Del Com 27.75 2,325 807,129 1,264,518 457,389
Autranet Ltd Central & South West Corp Del Com 27.60 8,294 2,879,900 4,487,633 1,607,733
Cantor Fitzgerald & Co Central & South West Corp Del Com 27.12 2,211 768,091 1,176,207 408,116
Inc
Autranet Ltd Central & South West Corp Del Com 27.00 1,138 395,184 602,366 207,182
Cantor Fitzgerald & Co Central & South West Corp Del Com 26.87 151 52,421 79,533 27,112
Inc
TOTAL 33 SALES: $22,500,096 $35,702,286
Mellon Bank N A EB Temporary Investment Fund
TOTAL 140 SALES: $ 1.00 $53,043,275 $53,043,275
TOTAL 106 PURCHASES: $ 1.00 $52,191,258 $52,191,258
THIS SUPPLEMENTAL SCHEDULE LISTS REPORTABLE TRANSACTIONS AT DECEMBER 31, 1996,
AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR REPORTING AND
DISCLOSURE.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 20.76 $ 6,772 $ 6,772
Non-Broker Trade Vanguard Windsor II Portfolio 20.76 99,327 99,327
Non-Broker Trade Vanguard Windsor II Portfolio 20.68 10,426 10,426
Non-Broker Trade Vanguard Windsor II Portfolio 20.62 120,605 120,605
Non-Broker Trade Vanguard Windsor II Portfolio 20.24 15,050 15,050
Non-Broker Trade Vanguard Windsor II Portfolio 20.59 33,284 33,284
Non-Broker Trade Vanguard Windsor II Portfolio 20.55 98,712 98,712
Non-Broker Trade Vanguard Windsor II Portfolio 20.61 111,018 111,018
Non-Broker Trade Vanguard Windsor II Portfolio 20.64 91,227 91,227
Non-Broker Trade Vanguard Windsor II Portfolio 20.66 29,166 29,166
Non-Broker Trade Vanguard Windsor II Portfolio 20.77 1,702 1,702
Non-Broker Trade Vanguard Windsor II Portfolio 21.24 135,700 135,700
Non-Broker Trade Vanguard Windsor II Portfolio 10.91 134,230 134,230
Non-Broker Trade Vanguard Windsor II Portfolio 21.41 1,831 1,831
Non-Broker Trade Vanguard Windsor II Portfolio 21.44 15,898 15,898
Non-Broker Trade Vanguard Windsor II Portfolio 21.37 102,370 102,370
Non-Broker Trade Vanguard Windsor II Portfolio 21.65 87,469 87,469
Non-Broker Trade Vanguard Windsor II Portfolio 21.74 128,612 128,612
Non-Broker Trade Vanguard Windsor II Portfolio 21.85 11,703 11,703
Non-Broker Trade Vanguard Windsor II Portfolio 21.91 1,037,212 1,037,212
Non-Broker Trade Vanguard Windsor II Portfolio 22.06 603,070 603,070
Non-Broker Trade Vanguard Windsor II Portfolio 21.90 10,368 10,368
Non-Broker Trade Vanguard Windsor II Portfolio 21.87 62,160 62,160
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 21.79 $ 212,858 $ 212,858
Non-Broker Trade Vanguard Windsor II Portfolio 21.55 68,143 68,143
Non-Broker Trade Vanguard Windsor II Portfolio 21.83 61,138 61,138
Non-Broker Trade Vanguard Windsor II Portfolio 22.22 151,111 151,111
Non-Broker Trade Vanguard Windsor II Portfolio 21.87 126,257 126,257
Non-Broker Trade Vanguard Windsor II Portfolio 21.71 4,163 4,163
Non-Broker Trade Vanguard Windsor II Portfolio 21.93 271,783 271,783
Non-Broker Trade Vanguard Windsor II Portfolio 21.58 236,060 236,060
Non-Broker Trade Vanguard Windsor II Portfolio 21.77 170,988 170,988
Non-Broker Trade Vanguard Windsor II Portfolio 22.04 69,672 69,672
Non-Broker Trade Vanguard Windsor II Portfolio 22.08 92,637 92,637
Non-Broker Trade Vanguard Windsor II Portfolio 22.00 182,215 182,215
Non-Broker Trade Vanguard Windsor II Portfolio 22.04 47,682 47,682
Non-Broker Trade Vanguard Windsor II Portfolio 22.01 13,156 13,156
Non-Broker Trade Vanguard Windsor II Portfolio 22.11 5,025 5,025
Non-Broker Trade Vanguard Windsor II Portfolio 22.20 19,521 19,521
Non-Broker Trade Vanguard Windsor II Portfolio 22.13 93,736 93,736
Non-Broker Trade Vanguard Windsor II Portfolio 22.07 440,710 440,710
Non-Broker Trade Vanguard Windsor II Portfolio 22.48 115,416 115,416
Non-Broker Trade Vanguard Windsor II Portfolio 22.56 189,209 189,209
Non-Broker Trade Vanguard Windsor II Portfolio 21.89 200,089 200,089
Non-Broker Trade Vanguard Windsor II Portfolio 22.05 187,087 187,087
Non-Broker Trade Vanguard Windsor II Portfolio 22.10 121,648 121,648
Non-Broker Trade Vanguard Windsor II Portfolio 21.97 3,059 3,059
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 22.01 $ 16,536 $ 16,536
Non-Broker Trade Vanguard Windsor II Portfolio 22.06 30,727 30,727
Non-Broker Trade Vanguard Windsor II Portfolio 22.15 9,970 9,970
Non-Broker Trade Vanguard Windsor II Portfolio 22.25 52,734 52,734
Non-Broker Trade Vanguard Windsor II Portfolio 22.36 62,018 62,018
Non-Broker Trade Vanguard Windsor II Portfolio 22.33 3,053 3,053
Non-Broker Trade Vanguard Windsor II Portfolio 21.86 3,025 3,025
Non-Broker Trade Vanguard Windsor II Portfolio 22.18 601,159 601,159
Non-Broker Trade Vanguard Windsor II Portfolio 22.40 66,102 66,102
Non-Broker Trade Vanguard Windsor II Portfolio 22.50 15,409 15,409
Non-Broker Trade Vanguard Windsor II Portfolio 22.41 174,687 174,687
Non-Broker Trade Vanguard Windsor II Portfolio 22.54 55,937 55,937
Non-Broker Trade Vanguard Windsor II Portfolio 22.70 44,423 44,423
Non-Broker Trade Vanguard Windsor II Portfolio 22.69 171,135 171,135
Non-Broker Trade Vanguard Windsor II Portfolio 22.92 213,227 213,227
Non-Broker Trade Vanguard Windsor II Portfolio 22.86 4,716 4,716
Non-Broker Trade Vanguard Windsor II Portfolio 22.94 373,750 373,750
Non-Broker Trade Vanguard Windsor II Portfolio 22.73 96,947 96,947
Non-Broker Trade Vanguard Windsor II Portfolio 22.60 109,336 109,336
Non-Broker Trade Vanguard Windsor II Portfolio 22.68 83,168 83,168
Non-Broker Trade Vanguard Windsor II Portfolio 22.58 68,099 68,099
Non-Broker Trade Vanguard Windsor II Portfolio 22.55 25,057 25,057
Non-Broker Trade Vanguard Windsor II Portfolio 22.79 586,727 586,727
Non-Broker Trade Vanguard Windsor II Portfolio 22.99 112,535 112,535
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 22.84 $ 196,299 $ 196,299
Non-Broker Trade Vanguard Windsor II Portfolio 22.79 93,551 93,551
Non-Broker Trade Vanguard Windsor II Portfolio 22.77 13,867 13,867
Non-Broker Trade Vanguard Windsor II Portfolio 22.75 58,739 58,739
Non-Broker Trade Vanguard Windsor II Portfolio 22.75 41,717 41,717
Non-Broker Trade Vanguard Windsor II Portfolio 22.70 7,939 7,939
Non-Broker Trade Vanguard Windsor II Portfolio 22.60 115,521 115,521
Non-Broker Trade Vanguard Windsor II Portfolio 22.54 16,338 16,338
Non-Broker Trade Vanguard Windsor II Portfolio 22.47 554 554
Non-Broker Trade Vanguard Windsor II Portfolio 22.61 161,241 161,241
Non-Broker Trade Vanguard Windsor II Portfolio 22.66 192,068 192,068
Non-Broker Trade Vanguard Windsor II Portfolio 22.48 157,668 157,668
Non-Broker Trade Vanguard Windsor II Portfolio 22.48 58,949 58,949
Non-Broker Trade Vanguard Windsor II Portfolio 22.53 383,670 383,670
Non-Broker Trade Vanguard Windsor II Portfolio 22.67 293,883 293,883
Non-Broker Trade Vanguard Windsor II Portfolio 22.67 205,765 205,765
Non-Broker Trade Vanguard Windsor II Portfolio 22.65 112,634 112,634
Non-Broker Trade Vanguard Windsor II Portfolio 22.16 266,392 266,392
Non-Broker Trade Vanguard Windsor II Portfolio 22.02 25,734 25,734
Non-Broker Trade Vanguard Windsor II Portfolio 22.17 20,819 20,819
Non-Broker Trade Vanguard Windsor II Portfolio 22.26 51,602 51,602
Non-Broker Trade Vanguard Windsor II Portfolio 21.95 116,886 116,886
Non-Broker Trade Vanguard Windsor II Portfolio 21.52 5,269 5,269
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 21.83 $ 52,278 $ 52,278
Non-Broker Trade Vanguard Windsor II Portfolio 21.70 30,646 30,646
Non-Broker Trade Vanguard Windsor II Portfolio 21.54 16,830 16,830
Non-Broker Trade Vanguard Windsor II Portfolio 21.57 3,433 3,433
Non-Broker Trade Vanguard Windsor II Portfolio 21.48 27,941 27,941
Non-Broker Trade Vanguard Windsor II Portfolio 21.59 14,868 14,868
Non-Broker Trade Vanguard Windsor II Portfolio 21.73 35,876 35,876
Non-Broker Trade Vanguard Windsor II Portfolio 22.44 50,566 50,566
Non-Broker Trade Vanguard Windsor II Portfolio 22.24 64,153 64,153
Non-Broker Trade Vanguard Windsor II Portfolio 22.31 25,364 25,364
Non-Broker Trade Vanguard Windsor II Portfolio 22.46 170,462 170,462
Non-Broker Trade Vanguard Windsor II Portfolio 22.59 1,715 1,715
Non-Broker Trade Vanguard Windsor II Portfolio 22.64 58,769 58,769
Non-Broker Trade Vanguard Windsor II Portfolio 22.56 31,820 31,820
Non-Broker Trade Vanguard Windsor II Portfolio 22.39 7,374 7,374
Non-Broker Trade Vanguard Windsor II Portfolio 22.22 299,018 299,018
Non-Broker Trade Vanguard Windsor II Portfolio 22.62 11,100 11,100
Non-Broker Trade Vanguard Windsor II Portfolio 22.84 107,113 107,113
Non-Broker Trade Vanguard Windsor II Portfolio 23.05 185,072 185,072
Non-Broker Trade Vanguard Windsor II Portfolio 23.09 11,958 11,958
Non-Broker Trade Vanguard Windsor II Portfolio 23.21 104,297 104,297
Non-Broker Trade Vanguard Windsor II Portfolio 23.16 98,670 98,670
Non-Broker Trade Vanguard Windsor II Portfolio 23.16 147,121 147,121
Non-Broker Trade Vanguard Windsor II Portfolio 23.16 38,668 38,668
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 23.19 $ 206,065 $ 206,065
Non-Broker Trade Vanguard Windsor II Portfolio 23.39 29,434 29,434
Non-Broker Trade Vanguard Windsor II Portfolio 23.83 31,689 31,689
Non-Broker Trade Vanguard Windsor II Portfolio 23.72 29,730 29,730
Non-Broker Trade Vanguard Windsor II Portfolio 23.57 30,773 30,773
Non-Broker Trade Vanguard Windsor II Portfolio 23.85 16,866 16,866
Non-Broker Trade Vanguard Windsor II Portfolio 23.70 262,294 262,294
Non-Broker Trade Vanguard Windsor II Portfolio 23.86 4,125 4,125
Non-Broker Trade Vanguard Windsor II Portfolio 23.90 66,738 66,738
Non-Broker Trade Vanguard Windsor II Portfolio 24.03 2,557 2,557
Non-Broker Trade Vanguard Windsor II Portfolio 24.08 61,081 61,081
Non-Broker Trade Vanguard Windsor II Portfolio 23.98 71,913 71,913
Non-Broker Trade Vanguard Windsor II Portfolio 23.99 50,254 50,254
Non-Broker Trade Vanguard Windsor II Portfolio 23.85 25,567 25,567
Non-Broker Trade Vanguard Windsor II Portfolio 23.85 181,550 181,550
Non-Broker Trade Vanguard Windsor II Portfolio 23.76 297,571 297,571
Non-Broker Trade Vanguard Windsor II Portfolio 23.95 98,398 98,398
Non-Broker Trade Vanguard Windsor II Portfolio 23.95 116,161 116,161
Non-Broker Trade Vanguard Windsor II Portfolio 24.04 20,170 20,170
Non-Broker Trade Vanguard Windsor II Portfolio 24.06 63,460 63,460
Non-Broker Trade Vanguard Windsor II Portfolio 24.26 47,652 47,652
Non-Broker Trade Vanguard Windsor II Portfolio 24.62 141,379 141,379
Non-Broker Trade Vanguard Windsor II Portfolio 24.69 305,098 305,098
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 24.79 $ 707,361 $ 707,361
Non-Broker Trade Vanguard Windsor II Portfolio 24.77 410,493 410,493
Non-Broker Trade Vanguard Windsor II Portfolio 24.73 169,601 169,601
Non-Broker Trade Vanguard Windsor II Portfolio 24.75 221,221 221,221
Non-Broker Trade Vanguard Windsor II Portfolio 24.94 173,577 173,577
Non-Broker Trade Vanguard Windsor II Portfolio 25.02 22,327 22,327
Non-Broker Trade Vanguard Windsor II Portfolio 25.25 83,082 83,082
Non-Broker Trade Vanguard Windsor II Portfolio 25.26 25,084 25,084
Non-Broker Trade Vanguard Windsor II Portfolio 25.23 430,140 430,140
Non-Broker Trade Vanguard Windsor II Portfolio 25.43 191,903 191,903
Non-Broker Trade Vanguard Windsor II Portfolio 25.76 115,404 115,404
Non-Broker Trade Vanguard Windsor II Portfolio 25.65 71,053 71,053
Non-Broker Trade Vanguard Windsor II Portfolio 25.70 86 86
Non-Broker Trade Vanguard Windsor II Portfolio 25.25 43,048 43,048
Non-Broker Trade Vanguard Windsor II Portfolio 23.68 360,042 360,042
Non-Broker Trade Vanguard Windsor II Portfolio 23.55 41,665 41,665
Non-Broker Trade Vanguard Windsor II Portfolio 23.90 6,844 6,844
Non-Broker Trade Vanguard Windsor II Portfolio 24.12 8,371 8,371
Non-Broker Trade Vanguard Windsor II Portfolio 24.23 74,417 74,417
Non-Broker Trade Vanguard Windsor II Portfolio 20.63 2,347 2,721 374
Non-Broker Trade Vanguard Windsor II Portfolio 20.48 41,321 47,447 6,126
Non-Broker Trade Vanguard Windsor II Portfolio 20.15 103,505 116,934 13,429
Non-Broker Trade Vanguard Windsor II Portfolio 20.24 13,179 14,956 1,777
Non-Broker Trade Vanguard Windsor II Portfolio 20.28 7,087 8,056 969
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 20.54 $ 69,748 $ 80,309 $ 10,561
Non-Broker Trade Vanguard Windsor II Portfolio 20.73 1,972 2,281 309
Non-Broker Trade Vanguard Windsor II Portfolio 20.87 217,046 252,719 35,673
Non-Broker Trade Vanguard Windsor II Portfolio 21.46 62,580 74,660 12,080
Non-Broker Trade Vanguard Windsor II Portfolio 22.14 5,485 6,548 1,063
Non-Broker Trade Vanguard Windsor II Portfolio 21.97 58,190 68,804 10,614
Non-Broker Trade Vanguard Windsor II Portfolio 21.93 97,061 114,556 17,495
Non-Broker Trade Vanguard Windsor II Portfolio 22.10 84,592 100,144 15,552
Non-Broker Trade Vanguard Windsor II Portfolio 22.20 13,699 16,291 2,592
Non-Broker Trade Vanguard Windsor II Portfolio 22.16 18,308 21,733 3,425
Non-Broker Trade Vanguard Windsor II Portfolio 22.13 126,436 149,885 23,449
Non-Broker Trade Vanguard Windsor II Portfolio 21.48 15,056 17,324 2,268
Non-Broker Trade Vanguard Windsor II Portfolio 21.53 80,204 92,276 12,072
Non-Broker Trade Vanguard Windsor II Portfolio 21.65 3,250 3,760 510
Non-Broker Trade Vanguard Windsor II Portfolio 21.80 64,540 75,185 10,645
Non-Broker Trade Vanguard Windsor II Portfolio 22.05 498,344 583,946 85,602
Non-Broker Trade Vanguard Windsor II Portfolio 22.16 1,757,380 2,066,709 309,329
Non-Broker Trade Vanguard Windsor II Portfolio 22.54 53,403 63,274 9,871
Non-Broker Trade Vanguard Windsor II Portfolio 22.57 77,697 92,181 14,484
Non-Broker Trade Vanguard Windsor II Portfolio 22.17 59,906 69,814 9,908
Non-Broker Trade Vanguard Windsor II Portfolio 22.14 24,996 29,104 4,108
Non-Broker Trade Vanguard Windsor II Portfolio 21.82 7,944 9,111 1,167
Non-Broker Trade Vanguard Windsor II Portfolio 21.72 65,180 74,418 9,238
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 22.01 $ 20,796 $ 23,925 $ 3,129
Non-Broker Trade Vanguard Windsor II Portfolio 22.16 100,241 116,051 15,810
Non-Broker Trade Vanguard Windsor II Portfolio 22.34 84,554 98,615 14,061
Non-Broker Trade Vanguard Windsor II Portfolio 22.31 6,141 7,151 1,010
Non-Broker Trade Vanguard Windsor II Portfolio 21.98 21,277 24,397 3,120
Non-Broker Trade Vanguard Windsor II Portfolio 21.75 89,862 101,956 12,094
Non-Broker Trade Vanguard Windsor II Portfolio 21.70 14,670 16,606 1,936
Non-Broker Trade Vanguard Windsor II Portfolio 21.95 15,075 17,262 2,187
Non-Broker Trade Vanguard Windsor II Portfolio 21.96 7,369 8,442 1,073
Non-Broker Trade Vanguard Windsor II Portfolio 22.52 42,806 49,919 7,113
Non-Broker Trade Vanguard Windsor II Portfolio 22.76 59,072 67,873 8,801
Non-Broker Trade Vanguard Windsor II Portfolio 22.68 19,936 22,824 2,888
Non-Broker Trade Vanguard Windsor II Portfolio 22.36 2,715,443 3,051,842 336,399
Non-Broker Trade Vanguard Windsor II Portfolio 22.43 23,688 26,706 3,018
Non-Broker Trade Vanguard Windsor II Portfolio 21.99 101,332 110,576 9,244
Non-Broker Trade Vanguard Windsor II Portfolio 21.46 15,662 16,678 1,016
Non-Broker Trade Vanguard Windsor II Portfolio 21.56 67,885 72,628 4,743
Non-Broker Trade Vanguard Windsor II Portfolio 21.38 702,326 744,748 42,422
Non-Broker Trade Vanguard Windsor II Portfolio 21.33 22,698 24,013 1,315
Non-Broker Trade Vanguard Windsor II Portfolio 21.49 252,149 268,754 16,605
Non-Broker Trade Vanguard Windsor II Portfolio 22.07 77,082 84,342 7,260
Non-Broker Trade Vanguard Windsor II Portfolio 22.36 80,963 89,719 8,756
Non-Broker Trade Vanguard Windsor II Portfolio 22.40 141,225 156,777 15,552
Non-Broker Trade Vanguard Windsor II Portfolio 22.42 113,093 125,660 12,567
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 22.38 $ 26,321 $ 29,193 $ 2,872
Non-Broker Trade Vanguard Windsor II Portfolio 22.32 3,026 3,349 323
Non-Broker Trade Vanguard Windsor II Portfolio 22.45 61,929 68,903 6,974
Non-Broker Trade Vanguard Windsor II Portfolio 22.34 6,706 7,421 715
Non-Broker Trade Vanguard Windsor II Portfolio 22.56 2,041 2,279 238
Non-Broker Trade Vanguard Windsor II Portfolio 22.61 2,700 3,021 321
Non-Broker Trade Vanguard Windsor II Portfolio 22.78 3,446 3,882 436
Non-Broker Trade Vanguard Windsor II Portfolio 22.65 50,662 56,719 6,057
Non-Broker Trade Vanguard Windsor II Portfolio 22.61 3,243 3,624 381
Non-Broker Trade Vanguard Windsor II Portfolio 22.34 52,276 57,610 5,334
Non-Broker Trade Vanguard Windsor II Portfolio 22.40 136,948 151,327 14,379
Non-Broker Trade Vanguard Windsor II Portfolio 22.39 6,765 7,475 710
Non-Broker Trade Vanguard Windsor II Portfolio 22.40 31,291 34,577 3,286
Non-Broker Trade Vanguard Windsor II Portfolio 22.62 44,377 49,518 5,141
Non-Broker Trade Vanguard Windsor II Portfolio 22.79 27,448 30,856 3,408
Non-Broker Trade Vanguard Windsor II Portfolio 23.14 150,930 171,844 20,914
Non-Broker Trade Vanguard Windsor II Portfolio 23.05 50,730 57,529 6,799
Non-Broker Trade Vanguard Windsor II Portfolio 23.05 41,596 47,170 5,574
Non-Broker Trade Vanguard Windsor II Portfolio 23.17 5,339 6,089 750
Non-Broker Trade Vanguard Windsor II Portfolio 23.29 82,722 94,295 11,573
Non-Broker Trade Vanguard Windsor II Portfolio 23.55 3,256 3,753 497
Non-Broker Trade Vanguard Windsor II Portfolio 23.52 49,109 56,517 7,408
Non-Broker Trade Vanguard Windsor II Portfolio 23.76 10,136 11,789 1,653
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS, PLAN #002
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
GROWTH & INCOME FUND
AS OF DECEMBER 31, 1996
EIN: 51-0007707
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Current value
Identity of Description of asset Expense of asset on
party (include interest rate and Purchase Selling Lease incurred with Cost transaction Net gain
involved maturity in case of a loan) Price Price Rental transaction of asset date or (loss)
- ------------------------ ------------------------------- -------- ------- -------- ----------- --------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Non-Broker Trade Vanguard Windsor II Portfolio $ 23.51 $ 10,169 $ 11,693 $ 1,524
Non-Broker Trade Vanguard Windsor II Portfolio 24.12 48,299 56,724 8,425
Non-Broker Trade Vanguard Windsor II Portfolio 24.00 215,812 250,222 34,410
Non-Broker Trade Vanguard Windsor II Portfolio 25.01 1,733 2,050 317
Non-Broker Trade Vanguard Windsor II Portfolio 25.65 101,900 122,561 20,661
Non-Broker Trade Vanguard Windsor II Portfolio 25.68 58,261 70,156 11,895
Non-Broker Trade Vanguard Windsor II Portfolio 25.49 72,635 86,817 14,182
Non-Broker Trade Vanguard Windsor II Portfolio 25.41 66,447 79,171 12,724
Non-Broker Trade Vanguard Windsor II Portfolio 25.42 100,491 119,782 19,291
Non-Broker Trade Vanguard Windsor II Portfolio 25.53 43,848 52,472 8,624
Non-Broker Trade Vanguard Windsor II Portfolio 25.49 47,489 56,740 9,251
Non-Broker Trade Vanguard Windsor II Portfolio 23.68 56,694 62,929 6,235
Non-Broker Trade Vanguard Windsor II Portfolio 23.41 359,572 394,563 34,991
Non-Broker Trade Vanguard Windsor II Portfolio 23.40 73,074 80,151 7,077
Non-Broker Trade Vanguard Windsor II Portfolio 23.26 63,654 69,400 5,746
Non-Broker Trade Vanguard Windsor II Portfolio 23.45 80,781 88,165 7,384
Non-Broker Trade Vanguard Windsor II Portfolio 24.04 36,646 40,992 4,346
Non-Broker Trade Vanguard Windsor II Portfolio 24.04 2,086,888 2,333,241 246,353
Non-Broker Trade Vanguard Windsor II Portfolio 24.30 13,788 15,583 1,795
Non-Broker Trade Vanguard Windsor II Portfolio 24.26 38,654 43,612 4,958
Non-Broker Trade Vanguard Windsor II Portfolio 23.83 41,531 46,028 4,497
TOTAL 96 SALES: $12,897,164 $14,624,402
TOTAL 160 PURCHASES: $18,520,213 $18,520,213
THIS SUPPLEMENTAL SCHEDULE LISTS REPORTABLE TRANSACTIONS AT DECEMBER 31, 1996,
AS REQUIRED BY THE DEPARTMENT OF LABOR RULES AND REGULATIONS FOR REPORTING AND
DISCLOSURE.
</TABLE>
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Benefits Advisory Committee has duly caused this annual report to be signed on
its behalf by the undersigned hereunto duly authorized.
CENTRAL AND SOUTH WEST CORPORATION
THRIFT PLUS
(Name of Plan)
By: /s/ L. B. Connors
Controller
Central and South West Corporation
Date: June 27, 1997
<PAGE>
INDEX TO EXHIBIT
EXHIBIT TRANSMISSION
NUMBER DESCRIPTION METHOD
1 CONSENT OF INDEPENDENT ELECTRONIC
PUBLIC ACCOUNTANTS
(ARTHUR ANDERSEN LLP,
DALLAS, TEXAS)
EXHIBIT 1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
AS INDEPENDENT PUBLIC ACCOUNTANTS, WE HEREBY CONSENT TO THE INCORPORATION
OF OUR REPORT INCLUDED IN THIS FORM 11-K, INTO THE CORPORATION'S PREVIOUSLY
FILED REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 2-70746).
Arthur Andersen LLP
DALLAS, TEXAS
JUNE 27, 1997
