SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the fiscal year ended December 31, 1993
A. Full title of the Plan:
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
B. Name of issuer of the securities held pursuant to the Plan and the
address of its principal executive office:
THE CINCINNATI GAS & ELECTRIC COMPANY
139 East Fourth Street
Cincinnati, Ohio 45202 - 4003
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Members of the Savings Incentive Plan Committee have duly caused this
annual report to be signed by the undersigned hereunto duly authorized.
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
----------------------
(Name of Plan)
By /s/ Donald R. Blum
------------------
Donald R. Blum, Member
Savings Incentive Plan Committee
June 28, 1994
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 1993
Participant Directed
------------------------------------
Fidelity Fidelity
Company Magellan Equity-Income
Total Stock Fund Fund* Fund
----- ---------- -------- -------------
INVESTMENTS, at market
Common Stock of The
Cincinnati Gas &
Electric Company -
shares: 3,380,743
(cost:$61,623,391) $ 92,970,433 $66,773,905 $ - $ -
Fidelity Magellan
Fund* -
shares: 11,655
(cost:$809,000) 825,738 - 825,738 -
Fidelity Equity-Income
Fund -
shares: 180,219
(cost:$4,573,928) 6,098,625 - - 6,098,625
Fidelity Intermediate
Bond Fund -
shares: 99,342
(cost:$1,037,390) 1,070,909 - - -
Money Market Fund -
(cost:$1,817,798) 1,817,798 451,072 26,335 57,033
----------- ---------- ------- ---------
102,783,503 67,224,977 852,073 6,155,658
OTHER ASSETS
Cash 12,277 7,544 - 4,733
Contribution receivable 150,946 90,364 5,285 11,437
Accrued income 8,175 - - -
Loans receivable
from Participants 2,644,347 - - -
----------- ---------- ------- ---------
PARTICIPANTS' EQUITY $105,599,248 $67,322,885 $857,358 $6,171,828
=========== ========== ======= =========
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital
appreciation by investing primarily in common stock and securities
convertible into common stock. As of March 31, 1994, the Fund had over $33
billion in net assets, consisting of the following classes: common stock,
89.1%; preferred stock, 0.5%; corporate bonds, 2.1%; U.S. Government
obligations, 5.2%; other securities, 0.7%; repurchase agreements, 2.4%.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 1993
Non-
Participant
Participant Directed Directed
------------------------------- -----------
Fidelity Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
------------ ------ ---- -------
INVESTMENTS, at market
Common Stock of The
Cincinnati Gas &
Electric Company -
shares: 3,380,743
(cost:$61,623,391) $ - $ - $ - $26,196,528
Fidelity Magellan
Fund* -
shares: 11,655
(cost:$809,000) - - - -
Fidelity Equity-Income
Fund -
shares: 180,219
(cost:$4,573,928) - - - -
Fidelity Intermediate
Bond Fund -
shares: 99,342
(cost:$1,037,390) 1,070,909 - - -
Money Market Fund -
(cost:$1,817,798) 12,883 1,076,760 - 193,715
--------- --------- --------- ----------
1,083,792 1,076,760 - 26,390,243
OTHER ASSETS
Cash - - - -
Contribution receivable 2,585 2,232 - 39,043
Accrued income 5,605 2,570 - -
Loans receivable
from Participants - - 2,644,347 -
--------- --------- --------- ----------
PARTICIPANTS' EQUITY $1,091,982 $1,081,562 $2,644,347 $26,429,286
========= ========= ========= ==========
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital
appreciation by investing primarily in common stock and securities
convertible into common stock. As of March 31, 1994, the Fund had over $33
billion in net assets, consisting of the following classes: common stock,
89.1%; preferred stock, 0.5%; corporate bonds, 2.1%; U.S. Government
obligations, 5.2%; other securities, 0.7%; repurchase agreements, 2.4%.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 1992
Participant Directed
------------------------------------
Fidelity Fidelity
Company Magellan Equity-Income
Total Stock Fund Fund* Fund
----- ---------- -------- -------------
INVESTMENTS, at market
Common Stock of The
Cincinnati Gas &
Electric Company -
shares: 3,197,045
(cost:$57,914,005) $79,526,494 $57,715,124 $ - $ -
Fidelity Magellan
Fund* -
shares: 2,656
(cost:$174,446) 167,326 - 167,326 -
Fidelity Equity-Income
Fund -
shares: 171,819
(cost:$4,202,027) 4,984,466 - - 4,984,466
Fidelity Intermediate
Bond Fund -
shares: 88,136
(cost:$914,153) 917,500 - - -
Money Market Fund -
(cost:$1,902,847) 1,902,847 405,094 6,980 56,662
---------- ---------- ------- ---------
87,498,633 58,120,218 174,306 5,041,128
OTHER ASSETS
Cash 79,049 35,967 680 37,665
Contribution receivable 135,039 80,862 1,113 12,040
Accrued income 3,106 - - -
Loans receivable
from Participants 1,835,155 - - -
---------- ---------- ------- ---------
PARTICIPANTS' EQUITY $89,550,982 $58,237,047 $176,099 $5,090,833
========== ========== ======= =========
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital
appreciation by investing primarily in common stock and securities
convertible into common stock. As of March 31, 1993, the Fund had over $24
billion in assets, consisting of the following classes: common stock,
75.2%; preferred stock, 1.4%; corporate bonds, 2.3%; U.S. Government
obligations, 15.2%; foreign government obligations, 0.3%; other securities,
0.5%; repurchase agreements, 5.1%.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF FINANCIAL CONDITION
DECEMBER 31, 1992
Non-
Participant
Participant Directed Directed
------------------------------- -----------
Fidelity Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
------------- ------ ---- -------
INVESTMENTS, at market
Common Stock of The
Cincinnati Gas &
Electric Company -
shares: 3,197,045
(cost:$57,914,005) $ - $ - $ - $21,811,370
Fidelity Magellan
Fund* -
shares: 2,656
(cost:$174,446) - - - -
Fidelity Equity-Income
Fund -
shares: 171,819
(cost:$4,202,027) - - - -
Fidelity Intermediate
Bond Fund -
shares: 88,136
(cost:$914,153) 917,500 - - -
Money Market Fund -
(cost:$1,902,847) 14,466 1,241,529 - 178,116
------- --------- --------- ----------
931,966 1,241,529 - 21,989,486
OTHER ASSETS
Cash 4,737 - - -
Contribution receivable 2,980 2,346 - 35,698
Accrued income - 3,106 - -
Loans receivable
from Participants - - 1,835,155 -
------- --------- --------- ----------
PARTICIPANTS' EQUITY $939,683 $1,246,981 $1,835,155 $22,025,184
======= ========= ========= ==========
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital
appreciation by investing primarily in common stock and securities
convertible into common stock. As of March 31, 1993, the Fund had over $24
billion in assets, consisting of the following classes: common stock,
75.2%; preferred stock, 1.4%; corporate bonds, 2.3%; U.S. Government
obligations, 15.2%; foreign government obligations, 0.3%; other securities,
0.5%; repurchase agreements, 5.1%.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1993
Participant Directed
------------------------------------
Fidelity Fidelity
Company Magellan Equity-Income
Total Stock Fund Fund Fund
----- ---------- -------- -------------
PARTICIPANTS' EQUITY
beginning of year $ 89,550,982 $58,237,047 $176,099 $5,090,833
----------- ---------- ------- ---------
CHANGES DURING PERIOD
Assets transferred
between plans
(Note 2) (3,296,904) (2,170,368) (44,896) (185,725)
Participants'
Contributions
(Note 5) 644,405 492,507 23,448 81,442
Employers'
Contributions
(Note 5) 6,971,269 4,085,773 183,714 513,745
Dividend income 5,732,949 3,938,706 7,040 200,156
Interest income 50,571 8,766 357 961
Distributions to
Participants (3,370,361) (2,515,875) (1,284) (90,527)
Net realized and
unrealized
appreciation in
market value
of investments 9,316,337 5,974,512 84,269 860,019
Investment
Transfers (Note 3) - (100,581) 431,053 (153,852)
Loans granted to
Participants, net
of repayments - (627,602) (2,442) (145,224)
---------- ---------- ------- ---------
Net change
during period 16,048,266 9,085,838 681,259 1,080,995
---------- ---------- ------- ---------
PARTICIPANTS' EQUITY,
end of year $105,599,248 $67,322,885 $857,358 $6,171,828
=========== ========== ======= =========
UNITS OF PARTICIPATION
December 31, 1993
(including units
to be distributed
to Participants)
Number of units
Number of shares 2,428,142 11,655 180,219
========= ====== =======
Value per unit,
at market
Market price per
share (New York
Stock Exchange
- Composite) $27.50 $70.85 $33.84
===== ===== =====
NUMBER OF EMPLOYEES
PARTICIPATING
December 31, 1993 2,751 251 832
===== === ===
The accompanying notes are an integral part of this statement.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1993
Non-
Participant
Participant Directed Directed
------------------------------- -----------
Fidelity Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
------------ ------ ---- -------
PARTICIPANTS' EQUITY
beginning of year $ 939,683 $1,246,981 $1,835,155 $22,025,184
--------- --------- --------- ----------
CHANGES DURING PERIOD
Assets transferred
between plans
(Note 2) (10,572) (49,819) - (835,524)
Participants'
Contributions
(Note 5) 16,851 30,157 - -
Employers'
Contributions
(Note 5) 123,517 91,838 - 1,972,682
Dividend income 71,276 - - 1,515,771
Interest income 246 36,524 - 3,717
Distributions to
Participants (19,540) (135,565) - (607,570)
Net realized and
unrealized
appreciation in
market value
of investments 42,511 - - 2,355,026
Investment
Transfers (Note 3) (54,340) (122,280) - -
Loans granted to
Participants, net
of repayments (17,650) (16,274) 809,192 -
------- --------- --------- ----------
Net change
during period 152,299 (165,419) 809,192 4,404,102
------- --------- --------- ----------
PARTICIPANTS' EQUITY,
end of year $1,091,982 $1,081,562 $2,644,347 $26,429,286
========= ========= ========= ==========
UNITS OF PARTICIPATION
December 31, 1993
(including units
to be distributed
to Participants)
Number of units 1,817,798 2,644,347
========= =========
Number of shares 99,342 952,601
====== =======
Value per unit,
at market $1.00 $1.00
==== ====
Market price per
share (New York
Stock Exchange
- Composite) $10.78 $27.50
===== =====
NUMBER OF EMPLOYEES
PARTICIPATING
December 31, 1993 373 308 526 2,751
=== === === =====
The accompanying notes are an integral part of this statement.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1992
Participant Directed
------------------------------------
Fidelity Fidelity
Company Magellan Equity-Income
Total Stock Fund Fund Fund
----- ---------- -------- -------------
PARTICIPANTS' EQUITY
beginning of year $103,011,744 $71,266,044 $ - $4,605,029
----------- ---------- ------- ---------
CHANGES DURING PERIOD
Assets transferred
between plans
(Note 2) (870,901) (666,528) - (18,360)
Participants'
Contributions
(Note 5) 657,311 508,331 3,416 88,545
Employers'
Contributions
(Note 5) 6,852,486 4,039,097 16,944 583,419
Dividend income 6,340,936 4,451,378 13,571 194,873
Interest income 14,347 8,809 32 1,343
Distributions to
Participants (20,071,015) (14,766,733) - (595,868)
Net realized and
unrealized
appreciation
(depreciation) in
market value
of investments (6,383,926) (5,389,240) (7,120) 490,713
Investment
Transfers (Note 3) - (224,657) 147,862 (29,885)
Loans granted to
Participants, net
of repayments - (989,454) 1,394 (228,976)
---------- ---------- ------- --------
Net change
during period (13,460,762) (13,028,997) 176,099 485,804
---------- ---------- ------- ---------
PARTICIPANTS' EQUITY,
end of year $89,550,982 $58,237,047 $176,099 $5,090,833
========== ========== ======= =========
UNITS OF PARTICIPATION
December 31, 1992
(including units
to be distributed
to Participants)
Number of units
Number of shares 2,320,206 2,656 171,819
========= ===== =======
Value per unit,
at market
Market price per
share (New York
Stock Exchange
- Composite) $24.875 $63.01 $29.01
====== ===== =====
NUMBER OF EMPLOYEES
PARTICIPATING
December 31, 1992 2,669 67 844
===== == ===
The accompanying notes are an integral part of this statement.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1992
Non-
Participant
Participant Directed Directed
------------------------------- -----------
Fidelity Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
------------ ------ ---- -------
PARTICIPANTS' EQUITY
beginning of year $902,707 $1,384,966 $ 525,720 $24,327,278
------- --------- --------- ----------
CHANGES DURING PERIOD
Assets transferred
between plans
(Note 2) (5,742) (4,353) - (175,918)
Participants'
Contributions
(Note 5) 20,339 36,680 - -
Employers'
Contributions
(Note 5) 139,807 121,977 - 1,951,242
Dividend income 74,173 52,185 - 1,554,756
Interest income 319 316 - 3,528
Distributions to
Participants (86,454) (447,040) - (4,174,920)
Net realized and
unrealized
appreciation
(depreciation) in
market value
of investments (17,497) - - (1,460,782)
Investment
Transfers (Note 3) (27,807) 134,487 - -
Loans granted to
Participants, net
of repayments (60,162) (32,237) 1,309,435 -
------- --------- --------- ----------
Net change
during period 36,976 (137,985) 1,309,435 (2,302,094)
------- --------- --------- ----------
PARTICIPANTS' EQUITY,
end of year $939,683 $1,246,981 $1,835,155 $22,025,184
======= ========= ========= ==========
UNITS OF PARTICIPATION
December 31, 1992
(including units
to be distributed
to Participants)
Number of units 1,902,847 1,835,155
========= =========
Number of shares 88,136 876,839
====== =======
Value per unit,
at market $1.00 $1.00
==== ====
Market price per
share (New York
Stock Exchange
- Composite) $10.41 $24.875
===== ======
NUMBER OF EMPLOYEES
PARTICIPATING
December 31, 1992 374 340 362 2,669
=== === === =====
The accompanying notes are an integral part of this statement.
<PAGE>
THE CINCINNATI GAS & ELECTRIC COMPANY
SAVINGS INCENTIVE PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 and 1992
(1) Description of The Cincinnati Gas & Electric Company Savings Incentive
Plan (SIP or the Plan) - The following is a brief description of the
Plan. Reference is made to the Plan and the related Trust Agreement,
including the defined terms, for complete information.
All Weekly or Hourly Paid Employees of The Cincinnati Gas & Electric
Company (CG&E), The Union Light, Heat and Power Company (ULH&P), and
Lawrenceburg Gas Company (LG) are eligible to participate in the Plan
upon completion of one year of service. Under the Plan, participating
Employees may defer, pursuant to Section 401(k) of the Internal
Revenue Code, up to 15% of base pay with a maximum of $8,994 for the
year 1993. In addition, a Participant may make optional contributions
to the Plan which, when combined with salary deferrals, may not exceed
15% of base pay. Salary deferrals and optional contributions may be
further limited for certain highly compensated Employees by the
requirements of Code Sections 401(k), 401(m), and 415. Salary
deferrals and Employer Matching Contributions discussed below are
classified as Employers' Contributions, while optional contributions
are classified as Participants' Contributions, in the accompanying
financial statements. The contributions are invested by the Trustee,
as directed by each Participant, in one or more investment funds,
including a Company Stock Fund. The Participant's Employer makes a
matching contribution of 50% (55% effective June 1, 1994) of the
amount, not exceeding 5% of base pay, contributed by each Participant.
All Employer Matching Contributions must be invested by the Trustee in
the Company Stock Fund. Subject to certain limitations, Employees may
apply for loans from their deferred compensation sub-account balances.
Such loans are reflected in the Loan Fund in the accompanying
financial statements. Loans bear interest at the prime rate of the
trustee plus 1/2%, and are repaid within five years through regular
payroll deductions. The Plan is administered by the Savings Incentive
Plan Committee and trusteed by PNC Bank, Ohio, N.A. Generally,
administrative expenses of the Plan are paid by the Employer and are
not included in the accompanying statements.
The Plan is generally subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA). In particular, the
Plan is subject to the reporting, disclosure, participation, vesting,
fiduciary responsibility, administration, and enforcement provisions
of Title I and the termination and liability provisions of Title IV of
ERISA. The funding provisions of Title I and the provisions relating
to the Pension Benefit Guaranty Corporation of Title IV are not
applicable to this type of defined contribution plan.
CG&E expects to continue the Plan indefinitely, but its Board of
Directors reserves the right to amend or terminate the Plan at any
time. No amendment shall reduce retroactively the rights of
Participants or permit the return to the Employer of any part of the
Common Stock or other securities, obligations, deposits or cash held
by the Trustee, or permit their use or diversion for any purpose other
than the exclusive benefit of the Participants or their Beneficiaries.
<PAGE>
(2) Significant Accounting Policies - Investments are stated at market
value as determined by the Trustee by reference to published market
data at December 31, 1993 and 1992. The market value of the Plan's
investments are subject to price fluctuations in the applicable
investment markets. Subsequent to December 31, 1993, the market price
per share of CG&E's Common Stock declined from $27.50 at December 31,
1993 to $22.50 at June 15, 1994. Unrealized valuation gains and
losses are reflected in the Statement of Changes in Participants'
Equity. The statements are prepared on the accrual basis of
accounting.
Transfers of assets between the SIP and the CG&E Deferred Compensation
and Investment Plan (DCIP) occur as a result of changes in Employee
status between the Weekly and Hourly Paid classification and the
Executive, Supervisory, Administrative and Professional
classification.
(3) Investments - All contributions are paid to the Trustee under the
Plan. Participants' Contributions are invested at their option as
indicated at their time of enrollment. Participants may change their
investment options quarterly. All Employer Matching Contributions are
invested in the Company Stock Fund. Employee Contributions and
Employer Matching Contributions are made each pay period and
immediately invested in the designated fund.
(4) Federal Income Tax Status - The Plan obtained its most recent
determination letter in July 1986, in which the Internal Revenue
Service (IRS) stated that the Plan, as then designed, was in
compliance with the applicable requirements of the Internal Revenue
Code. The Plan has beeen amended to meet the applicable requirements
of the Tax Reform Act of 1986. On June 30, 1994, an application will
be filed with the IRS seeking a determination on the tax qualification
status of the Plan, as amended. The Employer and legal counsel are of
the opinion that the Plan is being administered in accordance with the
requirements of the Tax Reform Act of 1986 and, therefore, the trust
continues to be tax exempt. Participating Employees are not subject
to tax on Plan income or amounts contributed by the Employer until
such time as such amounts are distributed to them.
<PAGE>
(5) Contributions - Contributions made by Participants and amounts
contributed by each Employer during the years ended December 31, 1993
and 1992 are as follows:
1993 1992
---- ----
Participants' Employers' Participants' Employers'
Contributions Contributions Contributions Contributions
------------- ------------- ------------- -------------
CG&E $644,405 $6,378,729 $657,311 $6,210,861
ULH&P - 548,552 - 601,503
LG - 43,988 - 40,122
------- --------- ------- ---------
Total $644,405 $6,971,269 $657,311 $6,852,486
======= ========= ======= =========
(6) Participant Withdrawals - Distributions which had been requested by
Participants and approved but not yet paid as of December 31, 1993 and
1992 are as follows:
1993 1992
---- ----
Company Stock Fund $515,186 $548,608
Fidelity Magellan Fund - -
Fidelity Equity-Income Fund 1,850 1,196
Fidelity Intermediate Bond Fund - 480
Money Market Fund - 2,458
------- -------
Total $517,036 $552,742
======= =======
These amounts are classified in the accompanying Statements of
Financial Condition as of December 31, 1993 and 1992 as a component of
Participants' Equity.
(7) Voluntary Early Retirement Program - During 1992, CG&E & its
subsidiaries approved a Voluntary Early Retirement Program (the
Program). Distributions to Participants in the Statement of Changes in
Participants' Equity for the year ended December 31, 1992 includes
approximately $15,400,000 in distributions to Participants who elected
to retire under the Program.
<PAGE>
Report of Independent Public Accountants
To The Savings Incentive Plan Committee of
The Cincinnati Gas & Electric Company:
We have audited the accompanying statements of financial condition of
THE CINCINNATI GAS & ELECTRIC COMPANY SAVINGS INCENTIVE PLAN (the Plan) as
of December 31, 1993 and 1992, and the related statements of changes in
participants' equity for the years then ended. These financial statements
and the schedules referred to below are the responsibility of the Savings
Incentive Plan Committee. Our responsibility is to express an opinion on
these financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the financial condition of the Plan as of
December 31, 1993 and 1992, and the changes in participants' equity for the
years then ended, in conformity with generally accepted accounting
principles.
Our audits were made for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental schedules
(Exhibits I and II) are presented for purposes of additional analysis and
are not a required part of the basic financial statements but are
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974. The supplemental schedules have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
ARTHUR ANDERSEN & CO.
Cincinnati, Ohio,
June 28, 1994
<PAGE>
EXHIBIT I
The Cincinnti Gas & Electric Company Savings Incentive Plan
Sponsor EIN: 31-0240030
Administrator EIN: 31-0910812
Plan Number: 002
Part I, Schedule G (Form 5500, Item 27a)
Schedule of Assets Held for Investment Purposes at December 31, 1993
--------------------------------------------------------------------
(a) (b) (c) (d) (e)
Description of
investment
including maturity
date, rate of
Identity of issue, interest,
borrower, lessor, collateral, par or
or similar party maturity value Cost Current value
- - - --- ------------------ ------------------ ---------- -------------
* The Cincinnati Gas 3,380,743 shares; $61,623,391 $92,970,433
& Electric Company $8.50 par value;
Common Stock Fund $27.50 market
price per share
@ 12/31/93
Fidelity Magellan Mutual fund, 809,000 825,738
Fund primarily common
stock; 11,655
shares; $70.85 net
asset value
@ 12/31/93
Fidelity Mutual fund, 4,573,928 6,098,625
Equity-Income Fund primarily equity
securities; 180,219
shares; $33.84
net asset value
@ 12/31/93
Fidelity Mutual fund, 1,037,390 1,070,909
Intermediate primarily
Bond Fund fixed-income
obligations;
99,342 shares;
$10.78 net asset
value @ 12/31/93
Money Market Fund Mutual fund, money 1,817,798 1,817,798
market instruments;
1,817,798 units;
$1.00 net asset
value @ 12/31/93
Participant loans 6 1/2% - 10 1/2% 0 2,644,347
* The Cincinnati Gas & Electric Company, as employer having employees
covered by the plan, is a party-in-interest.
<PAGE>
EXHIBIT II
The Cincinnati Gas & Electric Company
Savings Incentive Plan
Sponsor EIN: 31-0240030
Administrator EIN: 31-0910812
Plan Number: 002
Part V, Schedule G (Form 5500, Item 27d)
Schedule of Reportable Transactions
For the Year Ended December 31, 1993
------------------------------------
Total Total Total Dollar Total Dollar
Identity of Number of Number Value of Value of Net Gain
Securities Purchases of Sales Purchases Sales on Sales
- - - ----------- --------- -------- ------------ ------------ --------
The Cincinnati
Gas & Electric
Company Common
Stock Fund 72 59 $12,845,704 $2,638,756 $233,536
Money Market Fund 86 34 $13,320,096 $13,391,963 -
Exhibit 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the
incorporation by reference of our report dated June 28, 1994, included in
this Annual Report on Form 11-K for the year ended December 31, 1993 of The
Cincinnati Gas & Electric Company Savings Incentive Plan, into its
previously filed Registration Statement No. 33-45133.
ARTHUR ANDERSEN & CO.
Cincinnati, Ohio,
June 28, 1994
