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, 1993
OR
[] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 1-7784
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
B. Name of issuer of the securities held pursuant to the
plan and the address of its principal executive office:
CENTURY TELEPHONE ENTERPRISES, INC.
100 CENTURY PARK DRIVE
MONROE, LA 71203
1
<PAGE>
Independent Auditors' Report
The Board of Directors
Century Telephone Enterprises, Inc.:
We have audited the accompanying statements of net assets
available for benefits of Century Telephone Enterprises, Inc.
Retirement Savings Plan for Bargaining Unit Employees and Trust
(Combined Funds and individual S & P 500 Stock Fund, Century
Common Stock Fund, Money Market Fund, Bond Index Fund, Loan Fund,
and Sweep Account Fund) as of December 31, 1993 and 1992, and
the related combined and individual fund statements of changes in
net assets available for benefits for the period from April 1,
1992 (inception) to December 31, 1992, and for the year ended
December 31, 1993. In connection with our audits of the
aforementioned financial statements, we have also audited the
related financial statement schedules of Assets Held for
Investment Purposes as of December 31, 1993 and Reportable
Transactions for the year ended December 31, 1993. These
financial statements and financial statement schedules are the
responsibility of the Plan's management. Our responsibility is
to express an opinion on these financial statements and financial
statement schedules based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the net assets
available for benefits of Century Telephone Enterprises, Inc.
Retirement Savings Plan for Bargaining Unit Employees and Trust
(Combined Funds and individual S & P 500 Stock Fund, Century
Common Stock Fund, Money Market Fund, Bond Index Fund, Loan Fund,
and Sweep Account Fund) as of December 31, 1993, and the combined
and individual fund changes in net assets available for benefits
for the period from April 1, 1992 (inception) to December 31,
1992, and for the year ended December 31, 1993, in conformity
with generally accepted accounting principles. Also, in our
opinion, the related financial statement schedules, when
considered in relation to the basic financial statements taken as
a whole, present fairly, in all material respects, the
information set forth therein.
KPMG PEAT MARWICK
/s/ KPMG PEAT MARWICK
Shreveport, Louisiana
June 24, 1994
2
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Combined Funds
<TABLE>
<CAPTION>
December 31,
========================================================================
1993 1992
- - ------------------------------------------------------------------------
<S> <C> <C>
PLAN ASSETS
Investments
S & P 500 Stock Fund $420,601 194,554
Century Common Stock Fund 412,261 191,064
Money Market Fund 163,300 78,038
Bond Index Fund 104,338 50,504
Loan Fund 14,599 1,000
- - ------------------------------------------------------------------------
1,115,099 515,160
Cash 4,199 1,757
Contributions receivable - 23,001
- - ------------------------------------------------------------------------
4,199 24,758
- - ------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $1,119,298 539,918
========================================================================
See accompanying notes to financial statements.
</TABLE>
3
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Combined Funds
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - ----------------------------------------------------------------------------
<S> <C> <C>
Investment income (loss)
Net appreciation (depreciation) in
fair value of investments $ (22,448) 55,668
Other income 9,428 -
Interest income 2,370 1,556
Dividends - Common Stock of
Century Telephone Enterprises, Inc. 4,267 1,462
- - ----------------------------------------------------------------------------
Total investment income (loss) (6,383) 58,686
- - ----------------------------------------------------------------------------
Contributions
Participants 332,028 299,587
Company 275,915 185,667
- - ----------------------------------------------------------------------------
Total contributions 607,943 485,254
- - ----------------------------------------------------------------------------
Participant withdrawals (21,887) (3,981)
Other, net (293) (41)
- - ----------------------------------------------------------------------------
Net increase 579,380 539,918
Net assets available for benefits:
Beginning of period 539,918 -
- - ---------------------------------------------------------------------------
End of period $1,119,298 539,918
============================================================================
See accompanying notes to financial statements.
</TABLE>
4
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
S & P 500 Stock Fund
<TABLE>
<CAPTION>
December 31,
=========================================================================
1993 1992
- - -------------------------------------------------------------------------
<S> <C> <C>
PLAN ASSETS
Investments
S & P 500 Stock Fund $420,601 194,554
Contributions receivable - 8,963
- - -------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $420,601 203,517
=========================================================================
See accompanying notes to financial statements.
</TABLE>
5
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
S & P 500 Stock Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - --------------------------------------------------------------------------
<S> <C> <C>
Investment income
Net appreciation in fair value of investments $22,460 9,782
Other income 4,835 -
- - --------------------------------------------------------------------------
Total investment income 27,295 9,782
Contributions - Participants 121,861 124,861
Contributions - Company 103,036 76,154
Participant withdrawals (15,097) (49)
Other, net (69) (7,231)
Transfers between funds-net (19,942) -
- - --------------------------------------------------------------------------
Net increase 217,084 203,517
Net assets available for benefits:
Beginning of period 203,517 -
- - --------------------------------------------------------------------------
End of period $420,601 203,517
==========================================================================
See accompanying notes to financial statements.
</TABLE>
6
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Century Common Stock Fund
<TABLE>
<CAPTION>
December 31,
==========================================================================
1993 1992
- - --------------------------------------------------------------------------
<S> <C> <C>
PLAN ASSETS
Investments
Century Common Stock $412,261 191,064
Cash 4,096 1,657
Contributions receivable - 7,802
- - --------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $416,357 200,523
==========================================================================
See accompanying notes to financial statements.
</TABLE>
7
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Century Common Stock Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - --------------------------------------------------------------------------
<S> <C> <C>
Investment income (loss)
Net appreciation (depreciation) in
fair value of investments $ (48,726) 44,834
Interest income 204 30
Dividends - Common Stock of
Century Telephone Enterprises, Inc. 4,267 1,462
- - -------------------------------------------------------------------------
Total investment income (loss) (44,255) 46,326
Contributions - Participants 133,996 93,953
Contributions - Company 104,468 56,276
Participant withdrawals (666) (3,874)
Other, net (103) 7,842
Transfers between funds-net 22,394 -
- - --------------------------------------------------------------------------
Net increase 215,834 200,523
Net assets available for benefits:
Beginning of period 200,523 -
- - -------------------------------------------------------------------------
End of period $416,357 200,523
=========================================================================
See accompanying notes to financial statements.
</TABLE>
8
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Money Market Fund
<TABLE>
<CAPTION>
December 31,
=========================================================================
1993 1992
- - -------------------------------------------------------------------------
<S> <C> <C>
PLAN ASSETS
Investments
Money Market Fund $163,300 78,038
Contributions receivable - 3,940
- - -------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $163,300 81,978
=========================================================================
See accompanying notes to financial statements.
</TABLE>
9
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Money Market Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - ------------------------------------------------------------------------
<S> <C> <C>
Investment income
Other income $ 1,911 -
Interest income 1,399 835
- - ------------------------------------------------------------------------
Total investment income 3,310 835
Contributions - Participants 47,290 47,899
Contributions - Company 43,374 33,787
Participant withdrawals (4,925) (58)
Other, net (43) (485)
Transfers between funds-net (7,684) -
- - ------------------------------------------------------------------------
Net increase 81,322 81,978
Net assets available for benefits:
Beginning of period 81,978 -
- - ------------------------------------------------------------------------
End of period $163,300 81,978
========================================================================
See accompanying notes to financial statements.
</TABLE>
10
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Bond Index Fund
<TABLE>
<CAPTION>
December 31,
=========================================================================
1993 1992
- - -------------------------------------------------------------------------
<S> <C> <C>
PLAN ASSETS
Investments
Bond Index Fund $104,338 50,504
Contributions receivable - 2,296
- - -------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $104,338 52,800
=========================================================================
See accompanying notes to financial statements.
</TABLE>
11
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Bond Index Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - ---------------------------------------------------------------------------
<S> <C> <C>
Investment income
Net appreciation in
fair value of investments $3,818 1,052
Other income 2,682 -
- - ---------------------------------------------------------------------------
Total investment income 6,500 1,052
Contributions - Participants 28,881 32,874
Contributions - Company 25,037 19,450
Participant withdrawals (141) -
Other, net (15) (576)
Transfers between funds-net (8,724) -
- - ---------------------------------------------------------------------------
Net increase 51,538 52,800
Net assets available for benefits:
Beginning of period 52,800 -
- - ---------------------------------------------------------------------------
End of period $104,338 52,800
===========================================================================
See accompanying notes to financial statements.
</TABLE>
12
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Loan Fund
<TABLE>
<CAPTION>
December 31,
========================================================================
1993 1992
- - ------------------------------------------------------------------------
<S> <C> <C>
NET ASSETS AVAILABLE FOR BENEFITS
Loans to Participants $14,599 1,000
========================================================================
See accompanying notes to financial statements.
</TABLE>
13
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Loan Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - --------------------------------------------------------------------------
<S> <C> <C>
Interest income $ 764 $ -
Participant withdrawals (923) -
Other, net - 1,000
Transfers between funds-net 13,758 -
- - --------------------------------------------------------------------------
Net increase 13,599 1,000
Net assets available for benefits:
Beginning of period 1,000 -
- - --------------------------------------------------------------------------
End of period $14,599 $1,000
==========================================================================
See accompanying notes to financial statements.
</TABLE>
14
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Net Assets Available for Benefits
Sweep Account Fund
<TABLE>
<CAPTION>
December 31,
========================================================================
1993 1992
- - ------------------------------------------------------------------------
<S> <C> <C>
NET ASSETS AVAILABLE FOR BENEFITS
Cash $103 100
========================================================================
See accompanying notes to financial statements.
</TABLE>
15
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES AND TRUST
Statements of Changes in Net Assets Available for Benefits
Sweep Account Fund
<TABLE>
<CAPTION>
Year ended Nine months ended
December 31, December 31,
1993 1992
- - --------------------------------------------------------------------------
<S> <C> <C>
Interest income $ 3 691
Participant withdrawals (135) -
Other, net (63) (591)
Transfers between funds-net 198 -
- - --------------------------------------------------------------------------
Net increase 3 100
Net assets available for benefits:
Beginning of period 100 -
- - --------------------------------------------------------------------------
End of period $ 103 100
==========================================================================
See accompanying notes to financial statements.
</TABLE>
16
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Notes to Financial Statements
December 31, 1993
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PROVISIONS OF
THE PLAN
Basis of Presentation
The Century Telephone Enterprises, Inc. Retirement Savings
Plan for Bargaining Unit Employees and Trust (the Plan) was
established on April 1, 1992. The accompanying financial
statements of the Plan have been prepared on the accrual basis
of accounting and present the net assets available for
benefits and changes in net assets available for benefits.
The assets of the Plan are invested by the Trustee in various
investment programs (funds) which are described in Note 2.
The following description of the Plan provides only general
information. Participants should refer to the Plan agreement
for a more complete description of the Plan's provisions.
Participation
Participation in the Plan is available to each of the
employees whose compensation and conditions of employment are
covered by a collective bargaining agreement of Century
Telephone Enterprises, Inc. and its participating subsidiaries
(the Company).
Employees may allocate a portion of their base pay to the plan
by executing a Salary Deferral Agreement with the Company. In
the Salary Deferral Agreement, an employee agrees to a
deferral of between one percent and ten percent of their base
wages on a pre-tax basis, or between one percent and sixteen
percent of their base salary on an after-tax basis. An
employee may elect a deferral of their base salary using a
combination of pre-tax and after-tax elections provided the
total deferral does not exceed sixteen percent and the before-
tax deferral does not exceed ten percent. The amount of
compensation deferred by each participant is credited to an
account (Participant Contribution Account) maintained for each
participant by the Trustee.
As of the end of each payroll period, the Company contributes
to the account (Employer Contribution Account) of each
participant a contribution equal to 70% of each such
participant's contribution during such payroll period,
however, this matching contribution shall apply only to the
first 6% of such participant's base compensation. The Company
will contribute an additional amount of not less than 1% to an
account (Profit Sharing Contribution Account) on behalf of all
employees enrolled in the Plan.
During 1993 and 1992, the Company contributed $275,915 and
$185,667, respectively, to the Plan, of which $213,659 and
$143,374 relates to contributions made to the Employer
Contribution Account and $62,256 and $42,293 relates to
contributions made to the Profit Sharing Contribution Account.
17
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Notes to Financial Statements
An employee is permitted to transfer to the Plan as a
contribution his interest in another plan qualified under
Section 401(k) of the Internal Revenue Code, as amended (the
Code). Such contribution must qualify as a "rollover" amount
described in Section 402(a)(5) of the Code, or a "rollover"
contribution described in Section 408(d)(3) of the Code. Such
a rollover will be credited to a rollover account on behalf of
the participant (the Participant Rollover Account).
The interest of a participant in his Participant Contribution
Account and his Participant Rollover Account is fully vested
and non-forfeitable at all times.
The interest of a participant in his Employer Contribution
Account and Profit Sharing Contribution Account becomes fully
vested after five years of service. A participant with less
than five years of service has no vested interest in these
accounts.
Reports to Participants
All participants are furnished with quarterly statements which
set forth the status of their accounts in the Plan.
Forfeitures
A participant's non-vested account balances shall be forfeited
as of the date upon which the participant's employment has
terminated with the Company. Forfeiture amounts shall be
utilized to reduce Company contributions or may be added to
profit sharing contributions as directed by the administrator.
Distributions and Withdrawals
If the employment of a participant with the employer ceases
because of death, the attainment of age 65, disability,
termination of employment or for any other reason, the
participant's vested interest in the Plan will be distributed
to him or to his beneficiary in a lump sum. If the
participant dies without designating a beneficiary, his
interest in the Plan will be paid to his spouse, if any.
A participant who is an employee and over age 59 1/2 may make
one withdrawal from his contribution accounts prior to normal
distribution requirements being met. No withdrawals will be
permitted from an Employer Contribution Account except in this
manner. A withdrawal may be made from a Participant
Contribution Account or a Rollover Account only as a result of
financial hardship related to unreimbursable educational
expenses, medical expenses which are not reimbursable by
insurance, the need to pay for the funeral expenses of a
family member, to prevent eviction or foreclosure from the
Participant's principal residence or for the purchase of the
employee's principal residence. The determination of the
existence of a financial hardship and the amount required to
be distributed to meet the need created by the hardship shall
be made uniformly and without discrimination at the sole
discretion of the Plan Administrator.
18
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Notes to Financial Statements
Loans to Participants
The Plan has a provision whereby a participant can borrow from
his Participant Contribution Account or Participant Rollover
Account. The maximum loan is 50% of the vested account
balance, up to $50,000. The loans are repaid through payroll
deductions and the interest rate is the Wells Fargo Bank Prime
Rate plus 3%. The loan repayment period may be for any period
not to exceed five years except for loans for the purchase of
the Participant's principal residence which may be for any
period not to exceed ten years.
Trustee
The Trustee of the Plan, as of December 31, 1993, was Wells
Fargo Bank, N.A. The Board of Directors of the Company may
remove the Trustee and appoint a successor trustee.
The Company and the Trustee have entered into a Trust
Agreement which provides for the establishment of a Trust for
the purpose of holding and investing the contributions to the
Trust pursuant to the provisions of the Plan.
Administration
The Company has appointed a committee to administer the Plan.
The individuals who administer the Plan serve at the
discretion of the Board of Directors of the Company and may be
removed by the Board of Directors at any time. The cost of
plan administration is absorbed by the Company.
Realized Gains and Losses
The Department of Labor requires the Plan to report realized
gains and losses on the disposition of Plan investments based
on a revalued cost of the investments. Revalued cost is
defined as the current value of the investments at the
beginning of the plan year, as carried forward from the end of
the prior plan year, or historical cost if the investment was
acquired since the beginning of the plan year.
Market Value Determination
Investments in Century Common Stock are valued at the closing
market quote on December 31, 1993 and 1992, respectively.
Other investments in the funds, which consist of units of
mutual investment funds, are valued by the Trustee based on
the market value at year-end of the underlying assets of each
fund. Loans to participants are valued at principle amount
outstanding which approximates market value.
Plan Termination
Although it has not expressed any intention to do so, the
Company has the right under the Plan to change, suspend or
terminate the Plan at any time, subject to the provisions set
forth in the Employee Retirement Income Security Act of 1974.
The Company, however, is bound to maintain the Plan under the
terms of the labor agreement.
19
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Notes to Financial Statements
(2) PROVISIONS OF THE FUNDS
The following is a description of each of the funds available
to Plan participants.
(a) S & P 500 Stock Fund - consists primarily of investments
in the same stocks and in substantially the same
percentages as the S & P 500 Index (37.6% and 36.0%
of net assets at December 31, 1993 and 1992, respectively).
(b) Century Common Stock Fund - consists primarily of shares
of Century Common Stock (36.8% and 35.4% of net assets
at December 31, 1993 and 1992, respectively).
(c) Money Market Fund - consists primarily of short-term
investments in various money market instruments (14.6%
and 14.4% of net assets at December 31, 1993 and 1992,
respectively).
(d) Bond Index Fund - consists primarily of investments
in government and corporate bonds (9.3% and 9.4% of
net assets at December 31, 1993 and 1992, respectively).
(e) Loan Fund - represents loans to participants from
the participants' investment accounts (1.3% and 0.2%
of net assets at December 31, 1993 and 1992,
respectively).
A participant may instruct that his contribution be allocated
among the various funds. A participant may change his
investment allocation instructions at any time, however, the
participant can only change the contribution percentage on a
quarterly basis.
20
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Notes to Financial Statements
(3) INCOME TAXES
The Plan and related trust meet the necessary requirements of
Internal Revenue Code Section 401(a) and, accordingly, the
trust underlying the Plan is exempt from income taxation
pursuant to Internal Revenue Code Section 501(a). The Plan is
in the process of obtaining a determination letter.
(4) RELATED PARTY TRANSACTIONS
Certain Plan investments are shares of mutual funds managed by
Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. is the Trustee
as defined by the plan and, therefore, these transactions
qualify as party-in-interest. Fees paid by the Plan to Wells
Fargo Bank, N.A. for investment management services amounted
to $13,052 for the year ended December 31, 1993.
(5) CONCENTRATION OF INVESTMENTS
As of December 31, 1993, 36.8% of the net assets available for
benefits were invested in the common stock of the Company.
All of the remaining net assets available for benefits are
shares of mutual funds managed by Wells Fargo Bank, N.A.
21
<PAGE>
Schedule I
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1993
<TABLE>
<CAPTION>
Identity of issuer, borrower, Description Current
lessor or similar party of Investment Cost Value
- - -----------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Investment in Century
common stock 36,822 units/
15,979 shares $ 461,297 412,261 Note 2
Investments in Mutual
Funds for Qualified Employee
Benefit Plans:
S & P 500 Stock Fund 40,287 units 406,724 420,601 Note 2
Money Market Fund 163,300 units 163,300 163,300 Note 2
Bond Index Fund 10,497 units 105,204 104,338 Note 2
Loan Fund - 14,599 14,599
- - -----------------------------------------------------------------------------
$1,151,124 1,115,099
=============================================================================
</TABLE>
Note 1: The above data is based on information which has been certified as
accurate and complete by the trustee, Wells Fargo Bank, N.A. Wells
Fargo Bank, N. A. sponsors these funds and, accordingly, is a party-
in-interest. Additionally, Century Telephone Enterprises, Inc. as
sponsor of the Plan is considered a party-in-interest.
Note 2: These investments represent amounts greater than 5% of net plan
assets available for benefits.
22
<PAGE>
Schedule II
CENTURY TELEPHONE ENTERPRISES, INC.
RETIREMENT SAVINGS PLAN FOR BARGAINING
UNIT EMPLOYEES AND TRUST
Item 27d - Schedule of Reportable Transactions
For the Year Ended December 31, 1993
<TABLE>
<CAPTION>
Current Value of
Redemption Asset at Date of
Purchase or Selling Lease Expense Cost of Acquisition or Net
Description of Transaction Price Price Rental Incurred Asset Disposition Gain
- - ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
(Note 2) (Note 3)
Category (3)-A series of transactions
in excess of 5% of beginning of
period Plan assets available for
benefits
Investments in Century Common Stock
(43 purchases, 14 sales) $ 279,354 11,463 - - 9,550 - 1,913
Investments in Mutual Funds for
Qualified Employee Benefit Plans:
S & P 500 Stock Fund
(39 purchases, 24 sales) 547,057 343,471 - - 325,369 - 18,102
Money Market Fund
(32 purchases, 20 sales) 226,633 144,629 - - 144,629 - -
Bond Index Fund (35 purchases,
17 sales) 139,061 89,044 - - 83,318 - 5,726
</TABLE>
Notes: (1) The above data is based on information which has been certified as
accurate and complete by the trustee Wells Fargo Bank, N.A. Wells
Fargo Bank, N.A. sponsors these funds and, accordingly, is a
party-in-interest. Additionally, Century Telephone Enterprises,
Inc. as sponsor of the Plan is considered a party-in-interest.
(2) The purchase price also denotes cost and current value of the
security on transaction date.
(3) Current value is substantially the same amount as purchase price
or selling price of the security at the transaction date.
23
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Plan Administration Committee has duly caused this
annual report to be signed on its behalf by the undersigned
thereunto duly authorized.
Century Telephone Enterprises,Inc.
Retirement Savings Plan For Bargaining
Unit Employees and Trust
June 28, 1994 /s/ Ray B. Finney
--------------------------------
Ray B. Finney
Plan Administration Committee Member
24
<PAGE>
CENTURY TELEPHONE ENTERPRISES, INC.
Index to Exhibit
Exhibit
Number
- - -----------------------------------------------------------------------------
23.1 Consent of KPMG Peat Marwick
25
EXHIBIT 23.1
------------
INDEPENDENT AUDITORS' CONSENT
-----------------------------
The Board of Directors
Century Telephone Enterprises, Inc.:
We consent to incorporation by reference in the Registration
Statement (No. 33-46562) on Form S-8 of Century Telephone
Enterprises, Inc. of our report dated June 24, 1994, relating to
the statements of net assets available for benefits of Century
Telephone Enterprises, Inc. Retirement Savings Plan for
Bargaining Unit Employees and Trust as of December 31, 1993 and
1992, and the related statements of changes in net assets
available for benefits for the period from April 1, 1992
(inception) to December 31, 1992, and year ended December 31,
1993, and related financial statement schedules as of and for the
year ended December 31, 1993, which report appears in the
December 31, 1993 annual report on Form 11-K of Century Telephone
Enterprises, Inc. Retirement Savings Plan for Bargaining Unit
Employees and Trust.
KPMG PEAT MARWICK
/s/ KPMG PEAT MARWICK
Shreveport, Louisiana
June 24, 1994
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