SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Plan year ended December 30, 1994
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from _________________ to __________
Commission file number 1-3523
A. Full title of the Plan:
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
B. Name of issuer of the securities held
pursuant to the plan and the address
of its principal executive office:
WESTERN RESOURCES, INC.
818 Kansas Avenue
Topeka, Kansas 66612
<page1> EIN: 48-0290150
PN: 004
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 30, 1994 AND 1993
TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
<page2>
Report of Independent Public Accountants
To the Investment and Benefits Committee of
Western Resources, Inc. Employees' 401(k) Savings Plan:
We have audited the accompanying statements of net assets available for
benefits of WESTERN RESOURCES, INC. EMPLOYEES' 401(K) SAVINGS PLAN, as of
December 30, 1994 and 1993, and the related statements of changes in net
assets available for benefits for the years then ended. 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 management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 30, 1994 and 1993, and the changes in net assets available for
benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were performed 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 of loans or fixed income obligations as of
December 30, 1994, and reportable transactions for the year then ended are
presented for the purpose of additional analysis and are not a required part
of the basic financial statements, but are supplementary information required
by the Department of Labor's Rules and Regulations for Reporting and Disclo-
sure under the Employee Retirement Income Security Act of 1974. The supplemen-
tal 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.
As discussed further in Notes 1 and 5, effective December 31, 1994, the Kansas
Gas and Electric Company 401(k) Plan was merged into the Plan.
Kansas City, Missouri,
June 16, 1995
<page3> EIN: 48-0290150
PN: 004
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 30, 1994 AND 1993
1994 1993
ASSETS
INVESTMENTS:
GIC Fund $ 62,581,658 $ 63,120,437
Windsor Fund 45,262,792 42,674,607
Money Market Reserves 5,554,999 5,809,542
Company Common Stock Fund 33,703,216 36,638,798
Loan Fund 9,327,478 8,455,265
Wellington Fund 2,087,515 -
Index Trust-500 Portfolio 1,183,165 -
PRIMECAP Fund 2,216,198 -
161,917,021 156,698,649
Investments Transferred from KG&E 401(k) -
Fixed Income Fund 20,748,428 -
Fidelity Equity-Income Fund 6,563,013 -
Fidelity Magellan Fund 16,631,167 -
Fidelity Balanced Fund 860,414 -
Company Common Stock Fund 7,373,193 -
Loan Fund 3,112,900 -
55,289,115 -
Total Investments 217,206,136 156,698,649
INTEREST AND DIVIDENDS RECEIVABLE 1,091,907 885,496
CONTRIBUTIONS RECEIVABLE:
Participant 431,577 159,784
Employer 137,306 50,229
Total Assets 218,866,926 157,794,158
LIABILITIES
FORFEITURES - 1,590
ACCOUNTS PAYABLE 562,713 38,500
Total Liabilities 562,713 40,090
NET ASSETS AVAILABLE FOR BENEFITS $218,304,213 $157,754,068
The accompanying notes to financial statements
are an integral part of these statements.
<page4>
EIN: 48-0290150
PN: 004
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDING DECEMBER 30, 1994 AND 1993
1994 1993
NET ASSETS AVAILABLE FOR
BENEFITS, beginning of year $157,754,068 $ 62,574,244
INVESTMENT INCOME:
Interest 4,959,220 2,740,225
Dividends 6,609,683 4,418,256
Net Appreciation (Depreciation)
in Fair Value of Investments (11,162,733) 551,021
Total Investment Income 406,170 7,709,502
CONTRIBUTIONS:
Participant 10,382,592 5,326,195
Employer 3,457,934 1,880,137
Total Contributions 13,840,526 7,206,332
FORFEITURES (12,849) (12,730)
OTHER (21,400) (3,881)
BENEFITS PAID (9,302,004) (2,107,208)
TRANSFERS FROM KG&E 401(K) PLAN 55,416,776 -
TRANSFERS FROM UNION AND OTHER PLANS 222,926 82,387,809
NET INCREASE 60,550,145 95,179,824
NET ASSETS AVAILABLE FOR
BENEFITS, end of year $218,304,213 $157,754,068
The accompanying notes to financial statements
are an integral part of these statements.
<page5>
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 30, 1994 AND 1993
(1) PLAN DESCRIPTION:
The following brief description of the Western Resources, Inc. (the Company)
Employees' 401(k) Savings Plan (the Plan) is provided for general information
purposes only. Participants should refer to the plan document for more
complete information.
(a) General-- The Plan is a defined contribution plan, designed to
assist eligible employees in establishing a regular savings plan.
Effective October 31, 1993, The Kansas Power and Light Company Union
Employees' Savings Plan and The Gas Service Company Union Employees'
Savings Plan (the Union plans) were merged into the Plan. Prior to
December 31, 1994, the Plan covered all eligible Company employees with
the exception of KG&E employees on March 31, 1992, who were covered
under the Kansas Gas and Electric Company 401(k) Plan. Effective
December 31, 1994, the Kansas Gas and Electric Company 401(k) Plan (the
KG&E 401(k) Plan) merged into this plan. See Note 5 for more informa-
tion.
Employees are eligible to participate after one year of service as
defined. The Plan is subject to the provisions of the Employee Retire-
ment Income Security Act of 1974 (ERISA), as amended.
(b) Contributions--During 1994 and 1993, participants of the Plan were
allowed to make tax deferred contributions of between 1% and 10% of
earnings subject to certain Internal Revenue Code limits. These
contributions effectively reduced a participant's earnings because they
were withheld from earnings on a pre-tax basis. In addition to or
instead of pre-tax cash contributions, participants could elect to make
after-tax contributions of between 1% and 6% of earnings. Cash contri-
butions up to the first 6% of a participant's earnings were matched 50%
by the Company. The Plan allowed rollover contributions into the Plan.
Active participants were allowed to make additional contributions each
quarter to meet the maximum contribution percentage based on their
annual compensation. These contributions were considered in determining
matching employer contributions. Matching employer contributions were
suspended for a period of six months in the event that a participant
withdrew money from after-tax and/or Company match accounts.
Participants are fully vested in their contributions and earnings
thereon. During 1994 and 1993, Company matching contributions became
fully vested after three years. Once a participant retired under The
Western Resources, Inc. Retirement Plan, attains age 65, dies, or
<page6>
becomes permanently and totally disabled, all contributions became
fully vested.
Upon retirement, death, disability or termination of employment,
all vested balances are paid to the participant or his beneficia-
ries in accordance with Plan terms.
(c) Participant Accounts--A separate account is maintained for
each participant. Allocations to participant accounts for employ-
er and employee contributions are made when the contributions are
received by the trustee. Allocations to participant accounts for
the net of investment income, realized and unrealized changes in
investment market value and Plan expenses are made when such
amounts are earned or incurred.
Forfeitures arise when participants leave the Plan before the Company
contributions become fully vested. Forfeitures are used to reduce
future Company matching contributions.
(d) Investment Funds--During 1994 and 1993, participants in the Plan
could elect to have their contributions and the Company's matching
contributions invested in the funds listed below, excluding the Loan
Fund. Allocations between the funds could be made in 10% increments.
Participants could also elect to transfer their interests between funds.
The GIC Fund is invested entirely in the Western Resources, Inc.
Investment Contract Fund, a fund which invests in investment contracts
issued by insurance companies that are viewed by Vanguard Fiduciary
Trust Company as being financially sound and are highly rated by the
major credit agencies. Principal of investments in the Fund, and
interest thereon, are obligations of the insurance companies. Neither
Vanguard nor the Company guarantees either principal or interest in such
investments.
Windsor Fund is invested entirely in the Vanguard/Windsor Fund, a
diversified equity fund invested in equity securities providing dividend
and capital appreciation income.
Money Market Reserves is invested entirely in the Vanguard Money Market
Reserves - Prime Portfolio, a money market fund invested in high-quality
money market obligations issued by financial institutions, nonfinancial
corporations, and U.S. and other governmental agencies, and repurchase
agreements collateralized by such securities.
Company Common Stock Fund, established October 1, 1988, with assets
transferred from The Kansas Power and Light Company Tax Reduction Act
Stock Ownership Plan (TRASOP) and Employee Stock Ownership Plan of The
Gas Service Company (ESOP) upon termination and is invested primarily in
the Company's common stock. Dividends from stock held in the fund are
used to purchase additional shares of Company stock.
Loan Fund, established January 1, 1989, is a conduit for the distribu-
tion and repayment of loan proceeds. The investments in the fund
represent loans due from participants.
<page7>
Wellington Fund is vested entirely in the Vanguard/Wellington
Fund, a balanced fund which invests in stocks for potential
capital growth anddividend income and in bonds for current income
potential and conservation of principal.
Index Trust-500 Portfolio is invested entirely in the Vanguard Index
Trust-500 Portfolio, a growth and income fund which seeks to provide
long-term capital growth. The Index Trust-500 Portfolio attempts to
provide investment results that correspond to the price and yield
performance of publicly traded stocks, in the aggregate, as represented
by the Standard & Poor's Composite Stock Price Index.
PRIMECAP Fund is invested entirely in the Vanguard/PRIMECAP Fund, a
growth fund seeking long-term growth of capital by investing principally
in a portfolio of common stocks.
The above eight funds are managed by the Plan's trustee, Vanguard
Fiduciary Trust Company. The investments in GIC Fund and Money Market
Reserves are stated at market. Investments in Windsor Fund, Wellington
Fund, PRIMECAP Fund, Index Trust-500 Portfolio, and Company Common Stock
Fund are stated at quoted market values. Investments in Loan Fund are
stated at face value.
Participants in the KG&E 401(k) Plan transferred their interest in
the five funds described below to the Plan effective December 31,
1994.
Fixed Income Fund was invested in the Fidelity U.S. Government
Reserves, Fidelity Management Trust Company Managed Income Portfo-
lio, and also various other contracts which purchase high-quality,
short- and long-term guaranteed investment contracts (GICs), bank
investment contracts (BICs), and short-term money market instru-
ments.
Equity-Income Fund was invested entirely in the Fidelity Equity-
Income Fund. The fund invests primarily in income-producing
equity securities which offer a combination of share price appre-
ciation and income earnings.
Magellan Fund was invested entirely in the Fidelity Magellan Fund,
a diversified equity fund invested in equity securities providing
long-term capital appreciation.
Company Common Stock Fund was invested in the Company's common
stock. Dividends from stock held in the fund were used to pur-
chase additional shares of Company stock.
The Balanced Fund was invested in the Fidelity Balanced Fund, a
broadly diversified portfolio of high yielding securities, includ-
ing common and preferred stocks and bonds.
The investments in Fixed Income Fund were valued at contract
value. The investments in Equity-Income Fund, Magellan Fund,
Balanced Fund, and Company Common Stock Fund were stated at quoted
<page8>
market values. Investments in Loan Fund were stated at face
value.
(e) Loans to Participants--Participants are permitted to borrow a
specified portion of the vested balances in their individual accounts.
Loan interest rates and terms are established by the Investment and
Benefits Committee and all loans must be approved by that Committee.
Loans are evidenced by promissory notes payable to the Plan.
(f) Income Taxes--The Plan obtained its latest determination letter on
January 25, 1988, in which the Internal Revenue Service stated that the
Plan, as then designed, was in compliance with the applicable require-
ments of the Internal Revenue Code. The Plan has been restated since
receiving the determination letter. However, the Plan Administrator
believes that the Plan is currently designed and being operated in
compliance with the applicable requirements of the Internal Revenue
Code. Therefore, no provision for income taxes has been included in
these financial statements.
(g) Plan Termination--The Company is free to terminate the Plan at any
time. Upon termination, all contributions become fully vested.
(2) SIGNIFICANT ACCOUNTING POLICIES:
(a) Basis of Accounting--The Plan's financial statements are maintained
on the accrual basis. Employer and employee contributions are accrued
as the employees' salaries are earned.
(b) Administrative Expenses--All administrative expenses of the Plan
were paid by the Company with the exception of loan administrative
charges which were paid by the participants. The Company has no
continuing obligation to pay these expenses.
(3) INVESTMENTS:
The following investments represent over 5% of net assets available for
benefits at December 30, 1994 and/or 1993:
1994 1993
Continental National Assurance
Company, investment contract
#12586, general account $10,778,679 $11,966,782
Metropolitan Life Insurance
Company, investment contract
#14403, general account 14,921,459 16,309,788
Provident National Assurance
Company, investment contract
#027-04879, general account 4,944,622 8,252,776
Prudential Insurance Company of
America, investment contract
#7168, general account 11,499,049 13,002,482
Vanguard Windsor/Fund 45,262,792 42,674,607
<page9>
1994 1993
Western Resources, Inc.
Common Stock 40,797,775 36,447,758
Metropolitan Life Insurance
Company, investment contract
#12651, general account 16,324,814 -
Fidelity Magellan Fund 16,631,167 -
(4) OTHER:
On January 31, 1994, the Company sold substantially all of its Missouri
natural gas distribution properties and operations to Southern Union Company
(Southern Union). Approximately 20 percent of eligible employees were
affected. The Plan vested all affected participants in the value of their
accounts effective January 31, 1994. Participants had several options which
included 1) taking a distribution, 2) leaving funds in the plan until a future
distribution date (for participants whose account balances exceeded $3,500),
3) making a qualified rollover into the Southern Union 401(k) Plan, or 4)
making a qualified rollover into an individual retirement account.
Distributions are included in benefits paid and rollovers are included in
transfers to other plans on the statement of changes in net assets available
for benefits.
(5) MERGED PLAN CHANGES:
Effective December 31, 1994, the Kansas Gas and Electric Company 401(k) Plan
was merged into this Plan. The following features changed as a result of the
Plan merger: pre-tax contributions increased to 14% of eligible compensation,
after-tax compensation decreased to 4% of eligible compensation, investment
choices increased to eight, maximum terms of a home loan changed to 30 years
not to exceed age 70, financial hardship withdrawals will be allowed upon need
as based on IRS safe harbor rules, age 59 1/2 withdrawals will be allowed on
employee pre-tax contributions, and all contributions will be immediately
vested.
(6) FUND INFORMATION:
The following tables present changes in net assets available for benefits in
fund detail.
<page10>
<TABLE> EIN: 48-0290150
PN: 004
<CAPTION>
Year Ended December 31, 1994
Company
Money Common
GIC Windsor Market Stock Loan
Fund Fund Reserves Fund Fund
<S> <C> <C> <C> <C> <C>
ADDITIONS
Investment Income:
Net appreciation
(depreciation) in fair
value of investments $ - $(4,449,462) $ - $(6,679,047) $ -
Interest 3,788,445 - 202,567 10,737 573,929
Dividends - 4,230,408 - 1,649,080 -
3,788,445 (219,054) 202,567 (5,019,230) 573,929
Contributions:
Participant 1,749,804 4,070,015 407,569 1,353,384 -
Employer 609,390 1,327,957 139,575 440,501 -
2,359,194 5,397,972 547,144 1,793,885 -
Total additions 6,147,639 5,178,918 749,711 (3,225,345) 573,929
DEDUCTIONS
Benefits paid (5,525,628) (1,786,394) (485,537) (804,911) (572,752)
Other 452,318 (8,920) 102,575 (240) -
Forfeitures 1,591 85 (14,525) - -
Total deductions (5,071,719) (1,795,229) (397,487) (805,151) (572,752)
Net increase (decrease)
prior to transfers 1,075,920 3,383,689 352,224 (4,030,496) 1,177
TRANSFERS
Interfund transfers (1,621,421) (861,776) (611,291) 1,050,873 871,036
Transfers-Other plans 6,722 66,272 4,524 44,041 -
Transfers from KG&E 401(k)
Plan - - - - -
Total transfers (1,614,699) (795,504) (606,767) 1,094,914 871,036
Net increase (decrease) (538,779) 2,588,185 (254,543) (2,935,582) 872,213
Net assets available
for benefits:
Beginning of year 63,120,437 42,674,607 5,809,542 36,638,798 8,455,265
End of year $62,581,658 $45,262,792 $ 5,554,999 $33,703,216 $9,327,478
</TABLE>
<page11>
<TABLE> EIN: 48-0290150
PN: 004
<CAPTION>
Year Ended December 31, 1994
Index
Wellington Trust-500 PRIMECAP
Fund Portfolio Fund Other Total
<S> <C> <C> <C> <C> <C>
ADDITIONS
Investment Income:
Net appreciation
(depreciation) in fair
value of investments $ (77,917) $ (14,673) $ 58,366 $ - $ (11,162,733)
Interest - - - 383,542 4,959,220
Dividends 70,017 27,569 51,905 580,704 6,609,683
(7,900) 12,896 110,271 964,246 406,170
Contributions:
Participant 1,002,535 574,254 793,454 431,577 10,382,592
Employer 341,258 199,940 262,007 137,306 3,457,934
1,343,793 774,194 1,055,461 568,883 13,840,526
Total additions 1,335,893 787,090 1,165,732 1,533,129 14,246,696
DEDUCTIONS
Benefits paid (91,454) (14,531) (20,797) - (9,302,004)
Other (4,040) (220) (160) (562,713) (21,400)
Forfeitures - - - - (12,849)
Total deductions (95,494) (14,751) (20,957) (562,713) (9,336,253)
Net increase (decrease)
prior to transfers 1,240,399 772,339 1,144,775 970,416 4,910,443
TRANSFERS
Interfund transfers 803,222 398,787 1,025,989 (1,055,419) -
Transfers-Other plans 43,894 12,039 45,434 - 222,926
Transfer from KG&E 401(k)
Plan - - - 55,416,776 55,416,776
Total transfers 847,116 410,826 1,071,423 54,361,357 55,639,702
Net increase (decrease) 2,087,515 1,183,165 2,216,198 55,331,773 60,550,145
Net assets available
for benefits:
Beginning of year - - - 1,055,419 157,754,068
End of year $2,087,515 $ 1,183,165 $ 2,216,198 $56,387,192 $ 218,304,213
</TABLE>
<page12>
<TABLE>
EIN: 48-0290150
PN: 004
<CAPTION>
Year Ended December 31, 1993
Company
Money Common
GIC Windsor Market Stock Loan
Fund Fund Reserves Fund Fund Other Total
<S> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS
Investment Income:
Net appreciation in fair
value of investments $ - $ 421,359 $ - $ 129,662 $ - $ - $ 551,021
Interest 1,997,848 - 84,072 3,617 272,885 381,803 2,740,225
Dividends - 3,292,694 - 621,869 - 503,693 4,418,256
1,997,848 3,714,053 84,072 755,148 272,885 885,496 7,709,502
Contributions:
Participant 2,379,237 2,090,343 302,907 393,924 - 159,784 5,326,195
Employer 877,453 702,724 109,975 139,756 - 50,229 1,880,137
3,256,690 2,793,067 412,882 533,680 - 210,013 7,206,332
Total additions 5,254,538 6,507,120 496,954 1,288,828 272,885 1,095,509 14,915,834
DEDUCTIONS
Benefits paid (996,592) (522,414) (140,114) (448,088) - - (2,107,208)
Other - (2,981) (900) - - - (3,881)
Forfeitures (1,972) (3,335) (8) (5,825) - (1,590) (12,730)
Total deductions (998,564) (528,730) (141,022) (453,913) - (1,590) (2,123,819)
Net increase prior to
transfers 4,255,974 5,978,390 355,932 834,915 272,885 1,093,919 12,792,015
TRANSFERS
Interfund Transfers (476,088) (134,311) (26,494) 1,063,212 165,072 (591,391) -
Transfers from Union and
other plans 33,306,026 19,383,154 2,692,023 21,790,711 5,215,895 - 82,387,809
Total transfers 32,829,938 19,248,843 2,665,529 22,853,923 5,380,967 (591,391) 82,387,809
Net increase 37,085,912 25,227,233 3,021,461 23,688,838 5,653,852 502,528 95,179,824
Net assets available for
benefits:
Beginning of year 26,034,525 17,447,374 2,788,081 12,949,960 2,801,413 552,891 62,574,244
End of year $63,120,437 $42,674,607 $5,809,542 $36,638,798 $8,455,265 $1,055,419 $157,754,068
</TABLE>
<page13> EIN: 48-0290150
PN: 004
PAGE 1 OF 2
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 30, 1994
Number Current
Description of Units Cost Value
Connecticut General Life Insurance
Company, investment contract #25137,
general account 6,053,560 $ 6,053,560 $ 6,053,560
Continental Assurance Company,
investment contract #12586,
general account 10,778,679 10,778,679 10,778,679
John Hancock Mutual Life Insurance
Company, investment contract #7307,
general account 8,388,762 8,388,762 8,388,762
Metropolitan Life Insurance Company,
investment contract #14403,
general account 14,466,101 14,466,101 14,921,459
Provident National Assurance Company,
investment contract #027-04879,
general account 4,944,622 4,944,622 4,944,622
Prudential Insurance Company of America,
investment contract #7168,
general account 11,499,049 11,499,049 11,499,049
State Mutual Assurance Company,
investment contract #91877A,
general account 5,995,527 5,995,527 5,995,527
*Vanguard Windsor/Fund 3,595,138 49,609,512 45,262,792
*Vanguard Money Market Reserves,
Prime Portfolio 5,833,633 5,833,633 5,833,633
*Vanguard/PRIMECAP Fund 110,921 2,165,438 2,216,198
*Vanguard Index Trust 500 Portfolio 27,535 1,196,630 1,183,165
*Vanguard/Wellington Fund 107,659 2,156,405 2,087,515
*Fidelity U.S. Government Reserves 515,202 515,202 515,202
*Fidelity Management Trust Company
Managed Income Portfolio 3,908,412 3,908,412 3,908,412
Metropolitan Life Insurance Company,
Group Annuity Contract #12651,
general account 16,324,814 16,324,814 16,324,814
*Fidelity Equity-Income Fund 213,779 6,098,370 6,563,013
*Fidelity Magellan Fund 248,970 16,698,614 16,631,167
*Fidelity Balance Fund 70,009 901,691 860,414
<page14>
EIN: 48-0290150
PN: 004
PAGE 2 OF 2
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 30, 1994
Number Current
Description of Units Cost Value
*Western Resources, Inc.
Common Stock 1,425,250 29,346,625 40,797,775
*Participant Loans, at interest
rates ranging from 5.8% to 13.5% 12,440,378 12,440,378
Total Investments $209,322,024 $217,206,136
* Investment with party-in-interest to the Plan.
<page15>
<TABLE> EIN: 48-0290150
PN: 004
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
LINE 27b - SCHEDULE OF LOANS OR FIXED INCOME OBLIGATIONS
DECEMBER 30, 1994
<CAPTION>
Amount Received Unpaid
Original During Reporting Balance
Amount Year at End Amount Overdue
Identity and Address of Obligator of Loan Principal Interest of Year Principal Interest
<S> <C> <C> <C> <C> <C> <C>
Fetters, Delmar M. $8,500.00 $1,255.54 $ 288.32 $4,769.29 $4,013.47 $ 90.89
4000 Denton Rd.
Kansas City, MO
###-##-####
Detailed Description of Loan - General purpose loan; dated 4/23/92; 7.8% interest rate; 120 successive semi-
monthly installments.
Action to be Taken - The loan was defaulted 2/6/95 and will be treated as a 1995 distribution to the
participant.
Sears, Drusilla J. 6,500.00 788.31 137.85 2,637.22 694.78 90.50
3707 N.E. 43rd Terrace
Kansas City, MO 64117
###-##-####
Detailed Description of Loan - General purpose loan; dated 2/21/92; 7.7% interest rate; 120 successive semi-
monthly installments.
Action to be Taken - The loan will be defaulted in 1995 and will be treated as a 1995 distribution to the
participant.
</TABLE>
<page16>
<TABLE> EIN: 48-0290150
PN: 004
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 30, 1994
<CAPTION>
Type of Dollar Net Gain
Investment Transaction Number Value (Loss)
(1)
<S> <C> <C> <C> <C>
John Hancock Mutual Life Ins. Co., Purchases 511 $ 9,321,304 $ -
Group Annuity Contract #14403 Sales 51 932,541 -
Western Resources, Inc. Purchases 160 7,971,978 -
Stock Fund * Sales 188 3,716,940 671,241
Vanguard/Windsor Fund Purchases 177 14,090,005 -
Sales 225 7,052,322 20,877
(1) Amount shown in this column is cost of purchases or proceeds from sales.
* This fund consists of two investments, Western Resources, Inc. Common Stock and Vanguard Money Market
Reserves, Prime Portfolio. The Trustee is unable to split the transaction detail between the two
investments.
</TABLE>
<page17>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Investment and Benefits Committee for the Western Resources Inc. Employees'
401(K) Savings Plan has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
WESTERN RESOURCES, INC.
EMPLOYEES' 401(K) SAVINGS PLAN
By:
Signature Title Date
S. L. Kitchen Chairman June 28, 1995
Ira W. McKee, Jr. Member June 28, 1995
John K. Rosenberg Member June 28, 1995
William B. Moore Member June 28, 1995
David E. Roth Member June 28, 1995
<page18>
EXHIBIT INDEX
All exhibits marked "I" under the page column are incorporated herein by
reference.
Exhibit
Number Description of Documents Page
23 Consent of Independent Public Accountants (filed
electronically)
99(a) Summary Plan Description for The Kansas Power and I
Light Company Employees' Savings Plan. (filed as
Exhibit 28(a) to Registration Statement No.
33-23022)
99(b) Summary Plan Description for the Western Resources, I
Inc. Employees' 401(K) Savings Plan. (filed as
Exhibit 28(a) to Registration Statement No.
33-57435)
<page19>
Exhibit 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of
our report included in this Form 11-K for The Western Resources Inc.
Employees' 401(k) Savings Plan, into the Company's previously filed
Registration Statements File No. 33-23022 and 33-57435.
Arthur Andersen LLP
Kansas City, Missouri,
June 28, 1995
