<PAGE> 1
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 (FEE REQUIRED)
For the fiscal year ended December 31, 1993
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from __________________ to _______________
Commission file number:
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
TCA CABLE TV, INC. DEFERRED SAVINGS AND RETIREMENT PLAN
3015 SSE Loop 323, P.O. Box 130489, Tyler, Texas 75713-0489
B. Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office:
TCA CABLE TV, INC.
3015 SSE Loop 323, Tyler, Texas 75713-0489
Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees have duly caused this annual report to be signed on its behalf by
the undersigned thereunto duly authorized.
TCA CABLE TV, INC. DEFERRED SAVINGS
AND RETIREMENT PLAN
Date: September 22, 1994 TCA MANAGEMENT COMPANY
(Plan Administrator)
By: /s/ JIMMIE F. TAYLOR
Jimmie F. Taylor, Trustee
<PAGE> 2
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
FINANCIAL STATEMENTS
TOGETHER WITH AUDITORS' REPORT AND
SUPPLEMENTARY DATA
DECEMBER 31, 1993 AND 1992
<PAGE> 3
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page(s)
-------
<S> <C>
Auditors' Report
Statements of Net Assets Available for Plan Benefits 2
Statements of Changes in Net Assets Available for Plan Benefits 3
Notes to Financial Statements 4 - 8
Supplemental Schedules 10 - 23
</TABLE>
<PAGE> 4
(LOGO) HENRY & PETERS, P.C. (LOGO)
CERTIFIED PUBLIC ACCOUNTANTS CPA
-------------------------------------------------------------------------
(903) 597-6311 * Fax (903) 597-0343
3310 S. Broadway, Suite 100 * Tyler, Texas 75701-7851
INDEPENDENT AUDITORS' REPORT
To the Plan Administrator of
TCA Cable TV, Inc. Deferred Savings and Retirement Plan
Tyler, Texas
We have audited the accompanying statements of net assets available for plan
benefits of the TCA Cable TV, Inc. Deferred Savings and Retirement Plan as of
December 31, 1993 and 1992, and the related statements of changes in net assets
available for plan benefits for the years then ended. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the TCA
Cable TV, Inc. Deferred Savings and Retirement Plan as of December 31, 1993 and
1992, and the changes in net assets available for plan benefits for the years
then ended in conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
held for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental
schedules have been subjected to the auditing procedures applied in the audit
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.
May 17, 1994
<PAGE> 5
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
DECEMBER 31, 1993 AND 1992
<TABLE>
<CAPTION>
ASSETS
1993 1992
---------- ----------
<S> <C> <C>
ASSETS
Cash $ 414,819 $ 699,839
Investments, at fair market value (Note 5) 8,118,691 6,110,804
Employee contributions receivable 93,652 68,226
Employer contributions receivable 54,474 44,940
Interest and dividend receivable 54,107 14,713
---------- ----------
Total assets 8,735,743 6,938,522
LIABILITIES
LIABILITIES
Accounts payable and accrued expenses 47,570 45,380
---------- ----------
Total liabilities 47,570 45,380
---------- ----------
Net assets available for plan benefits $8,688,173 $6,893,142
========== ==========
</TABLE>
See accompanying notes to financial statements.
-2-
<PAGE> 6
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
DECEMBER 31, 1993 AND 1992
<TABLE>
<CAPTION>
1993 1992
---------- ----------
<S> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
INVESTMENT INCOME
Net appreciation in fair market value of
investments (Note 5) $ 963,874 $ 846,644
Interest 178,903 99,039
Dividends 88,508 78,220
---------- ----------
1,231,285 1,023,903
CONTRIBUTIONS
Employee 776,414 661,337
Employer stock 476,430 416,873
Employer cash 3,210 19,276
---------- ----------
1,256,054 1,097,486
---------- ----------
Total additions 2,487,339 2,121,389
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Benefits paid to participants 652,368 596,013
Plan expenses 39,940 10,492
---------- ----------
Total deductions 692,308 606,505
---------- ----------
Net increase 1,795,031 1,514,884
NET ASSETS AVAILABLE FOR PLAN BENEFITS
Beginning of year 6,893,142 5,378,258
---------- ----------
End of year $8,688,173 $6,893,142
========== ==========
</TABLE>
See accompanying notes to financial statements.
-3-
<PAGE> 7
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
NOTE 1 - DESCRIPTION OF PLAN
The following description of the TCA Cable TV, Inc. Deferred Savings and
Retirement Plan (Plan) provides only general information. Participants
should refer to the Plan agreement for a more complete description of the
Plan's provisions.
GENERAL
The Plan is a defined contribution plan covering all eligible employees.
Each employee becomes eligible on the first day of the month which is on or
after his employment anniversary date. Employment anniversary date means
the date which is twelve months after the employee's employment commencement
date regardless of the number of hours of service completed during that
period of time. Mandatory participation is required for employees. It is
subject to the provisions of the Employee Retirement Income Securities Act
of 1974 (ERISA).
PLAN TRUSTEE
The officers of TCA Management Company serve as the trustee for the Plan and
are responsible for managing the Plan's investment assets. Chicago
Corporation, Dean Witter, Kanaly Trust Corporation and Merrill Lynch, serve
as custodians of the Plan's assets.
CONTRIBUTIONS
Contributions to the Plan are made by the participants and TCA Cable TV,
Inc., the employer. Participants are required to contribute to the Plan at
least 1% of their compensation, but may make contributions up to 11%. This
contribution is made by regular payroll deductions which are promptly paid
by the employer to the trustee. The employer makes contributions to the
Plan which match contributions made by participants to the following extent:
<TABLE>
<CAPTION>
Contributions by Participants Contributions by Employer
----------------------------- -------------------------
<S> <C>
First 1% of compensation Employer will match 100%
Next 1% of compensation Employer will match 100%
Next 2% of compensation Employer will match 50%
</TABLE>
In addition to matching contributions, the employer may, but is not required
to, make discretionary contributions to the Plan in an amount determined by
the employer. All employer contributions shall be made from either or both
current and accumulated earnings and profits, and if current and accumulated
earnings and profits are not sufficient to pay the employer's matching
contribution, then the employer's matching contribution to each participant
shall be reduced proportionately.
-4-
<PAGE> 8
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
CONTINUED
NOTE 1 - DESCRIPTION OF PLAN - CONTINUED
PARTICIPANT ACCOUNTS
Each participant's account is credited with the participant's contribution
and an allocation of (a) the Company's contribution, (b) Plan earnings, and
(c) forfeitures of terminated participant's nonvested accounts. Allocations
of the Company's matching contribution is based on participant's
corresponding contributions. The employer's discretionary contribution if
any, is allocated equally to all participants who are employed as of the
last day of the plan year. On the last day of each calendar quarter, the
income of the Plan is allocated to each separate account in proportion to
its account balance. Forfeitures are allocated on a per capita basis to all
participants who are actively employed as of the last day of the Plan year
in which the forfeitures are determined to occur.
VESTING
Participants are immediately vested in their voluntary contributions plus
actual earnings thereon. Vesting in the remainder of their accounts is
based on years of continuous service. The vesting percentages currently in
effect are as follows:
<TABLE>
<CAPTION>
Years of Service % Vested
-------------------- --------
<S> <C>
Less than 3 0%
3 but less than 4 20%
4 but less than 5 40%
5 but less than 6 60%
6 but less than 7 80%
7 or more 100%
</TABLE>
PAYMENT OF BENEFITS
The vested portion of the participant's benefits will be distributed to the
participant or his beneficiary in the form of a single lump sum payment.
NOTE 2 - SUMMARY OF ACCOUNTING POLICIES
If available, quoted market prices are used to value investments. The
amounts shown in Note 5 for securities that have quoted market price
represent estimated fair value.
NOTE 3 - ADOPTION OF PROTOTYPE PLAN
TCA Management Company adopted a prototype plan from Potter, Guinn, Minton,
Roberts & Davis, P. C. on July 29, 1992. The prototype plan restates the
previous Plan with no changes to the Plan provisions. A favorable
determination from the Internal Revenue Service was received in January,
1993 allowing the continued qualification of the Plan as a qualified trust
under Section 401(a) of the Internal Revenue Code.
-5-
<PAGE> 9
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
CONTINUED
NOTE 4 - PLAN AMENDMENTS
TCA Management Company adopted an amendment to convert to a 401(k) plan
effective January 1, 1993. This allows plan participants to defer taxable
income by electing lower current compensation and contributing the reduction
in compensation to a qualified 401(k) plan. The remaining provisions of the
Plan have not changed. A determination letter from the Internal Revenue
Service has not been received. However, the Plan administrator and the
Plan's tax counsel believe that the Plan is currently designed and being
operated in compliance with the applicable requirements of the Internal
Revenue Code. Therefore, they believe that the Plan was qualified and the
related trust was tax exempt as of December 31, 1993.
NOTE 5 - INVESTMENTS
The Plan's investments are held by a bank-administered trust fund. The
following table presents the fair market value of all investments.
FAIR MARKET VALUE OF INVESTMENTS
<TABLE>
<CAPTION>
December 31, 1993 December 31, 1992
---------------------- ----------------------
Fair Fair
Cost Value Cost Value
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
INVESTMENTS AT FAIR VALUE AS
DETERMINED BY QUOTED MARKET PRICE
Common Stock
- - ------------
TCA Cable TV, Inc., $.10 par
value, 95,335 shares as of
December 31, 1993 and 228,101
shares as of December 31, 1992 $1,334,291 $2,717,048 $2,720,592 $4,904,171
Miscellaneous other corporate
common stock 2,399,938 2,570,040 - -
---------- ---------- ---------- ----------
Total common stock 3,734,229 5,287,088 2,720,592 4,904,171
Government Securities
- - ---------------------
U.S. Treasury Notes various
issues with rates ranging
from 6.0% to 8.5% with maturity
dates from September 30, 1994
to May 15, 2016 1,379,515 1,411,017 302,656 321,188
</TABLE>
-6-
<PAGE> 10
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
CONTINUED
NOTE 5 - INVESTMENTS - CONTINUED
<TABLE>
<CAPTION>
December 31, 1993 December 31, 1992
---------------------- ----------------------
Fair Fair
Cost Value Cost Value
---------- ---------- ----------- ----------
<S> <C> <C> <C> <C>
Mortgage-Backed Securities
- - --------------------------
Federal Home Loan Mortgage Corp.
Securities with rates of 6.8%
and 8.375% maturing June 15,
2004 and March 15, 2019,
respectively. $ 150,688 $ 154,906 $ 150,688 $ 151,833
Federal National Mortgage Assoc.
Securities with rates of 8.25%
and 8.40% maturing March 25,
2004 and May 25, 2018 reduced
in 1993 by principal paydowns
of $45,868 107,757 111,402 153,625 155,349
Governmental National Mortgage
Assoc. 5.5% due June 20, 2022
reduced in 1993 by principal
paydowns of $4,762 97,113 91,797 101,875 99,263
---------- ---------- ---------- ----------
Total mortgage backed
securities 355,558 358,105 406,188 406,445
Certificates of Deposit
- - -----------------------
Various issues with interest rates
ranging from 7.25% to 8.0% with
maturity dates from March 29, 1993
to May 22, 1995. 288,000 288,000 479,000 479,000
Corporate Bonds
- - ---------------
Various issues with rates ranging
from 5.5% to 6.875% with maturity
dates from January 15, 1998 to
October 15, 2008. 775,912 774,481 - -
---------- ---------- ---------- ----------
Total investments at fair
market value $6,533,214 $8,118,691 $3,908,436 $6,110,804
========== ========== ========== ==========
</TABLE>
-7-
<PAGE> 11
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
CONTINUED
NOTE 5 - INVESTMENTS - CONTINUED
During 1993 and 1992 the Plan's investments (including investments bought,
sold, and held during the year) appreciated in value as follows:
<TABLE>
<CAPTION>
December 31, 1993 December 31, 1992
----------------- -----------------
<S> <C> <C>
TCA Stock $ 847,718 $ 848,935
Misc. Other Stock 103,697 -
Government Securities 12,970 (1,999)
Mortgage Backed Securities 920 (292)
Certificates of Deposit - -
Corporate Bonds (1,431) -
---------- ----------
Totals $ 963,874 $ 846,644
========== ==========
</TABLE>
NOTE 6 - PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate
the Plan with respect to either a portion or all of the participants by
delivering to the Trustee written notice of such termination. In the event
of Plan termination, participants will become 100 percent vested in their
accounts.
-8-
<PAGE> 12
SUPPLEMENTAL SCHEDULES:
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 1993
<PAGE> 13
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
TCA Cable TV, Inc. 95,335 shares of
Common Stock, $.10
par value $1,334,291.00 $2,717,048.00
Air Prods. & Chems. Inc. 650 shares of
Common Stock 29,631.45 28,762.50
Albertsons Inc. 1,000 shares of
Common Stock 25,060.00 26,750.00
Alltel Corp. 800 shares of
Common Stock 20,623.20 23,600.00
Alza Corp. 1,050 shares of
Common Stock 36,460.90 29,662.50
American Barrick 1,400 shares of
Resources Common Stock 20,690.60 39,725.00
American Cyanamid 400 shares of
Common Stock 22,573.20 20,100.00
American Home Prod Corp. 300 shares of
Common Stock 19,742.40 19,425.00
American Management 1,200 shares of
System Common Stock 27,850.00 23,700.00
Atlantic Southeast 850 shares of
Airlines Common Stock 21,850.00 29,112.50
Avnet Inc. 700 shares of
Common Stock 23,665.60 27,300.00
Banc One Corp. 650 shares of
Common Stock 26,831.90 25,431.25
Bancorp Hawaii 500 shares of
Common Stock 22,279.00 20,500.00
Banta Corp. 750 shares of
Common Stock 21,125.00 27,187.50
</TABLE>
-10-
<PAGE> 14
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Bausch & Lomb Inc. 500 shares of
Common Stock $26,041.50 $25,625.00
Beneficial Corp. 700 shares of
Common Stock 22,814.05 26,775.00
Block H & R Inc. 600 shares of
Common Stock 23,809.80 24,450.00
Bob Evans Farms Inc. 1,100 shares of
Common Stock 23,237.50 24,062.50
Brinker International 750 shares of
Inc. Common Stock 22,716.50 34,500.00
Bristol-Myers Squibb 450 shares of
Company Common Stock 27,844.85 26,212.50
CPC Intl Inc. 500 shares of
Common Stock 23,654.00 23,812.50
Campbell Soup Co. 600 shares of
Common Stock 25,097.30 24,600.00
Cardinal Distribution, 800 shares of
Inc. Common Stock 21,800.00 38,000.00
Castle & Cooke 1,700 shares of
Common Stock 21,372.40 22,950.00
Central Fidelity Bank 900 shares of
Common Stock 25,587.50 24,975.00
Century Telephone 800 shares of
Common Stock 22,596.40 20,600.00
Circuit City Store, Inc. 1,000 shares of
Common Stock 30,520.50 21,750.00
</TABLE>
-11-
<PAGE> 15
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Circus Circus Enterprises 600 shares of
Common Stock $23,485.70 $22,050.00
Coca Cola Co. 500 shares of
Common Stock 21,466.50 22,312.50
Colgate Palmolive Co. 400 shares of
Common Stock 22,273.20 24,950.00
Comerica 950 shares of
Common Stock 29,173.85 25,293.75
Compass Bancshares Inc. 1,100 shares of
Common Stock 26,525.00 24,200.00
Computer Associate Intl. 600 shares of
Common Stock 25,684.80 24,000.00
Cracker Barrel 750 shares of
Common Stock 21,375.00 20,625.00
Crown Cork & Seal Inc. 650 shares of
Common Stock 25,218.95 27,218.75
Deluxe Corp. 500 shares of
Common Stock 23,404.00 18,125.00
Donnelley R. R. & 700 shares of
Sons, Co. Common Stock 22,703.10 21,787.50
Dover Corp. 400 shares of
Common Stock 18,484.99 24,300.00
Dun & Bradstreet 350 shares of
Common Stock 20,626.55 21,568.75
Emerson Elec. Co. 450 shares of
Common Stock 26,813.60 27,112.50
Family Dollar Stores 1,600 shares of
Common Stock 31,717.80 27,200.00
</TABLE>
-12-
<PAGE> 16
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Federal Signal 1,000 shares of
Common Stock $21,683.00 $28,000.00
Fifth Third Bancorp 400 shares of
Common Stock 20,800.00 20,700.00
First ALA Bancshares Inc. 660 shares of
Common Stock 21,000.00 21,367.50
Fiserv Inc. 1,200 shares of
Common Stock 24,132.48 23,100.00
Forest Labs Inc. 800 shares of
Common Stock 29,996.40 38,100.00
Foster Wheeler Corp. 800 shares of
Common Stock 23,046.40 26,800.00
Franklin Resources Inc. 600 shares of
Common Stock 21,034.80 27,525.00
General Motors Corp. 700 shares of
Class E Common Stock 21,215.60 20,475.00
Genuine Parts Co. 600 shares of
Common Stock 21,032.40 22,575.00
Gillette Co. 400 shares of
Common Stock 21,773.20 23,850.00
Golden West Financial 500 shares of
Common Stock 22,904.00 19,500.00
Grainger W. W. Inc. 500 shares of
Common Stock 27,279.00 28,750.00
Great Lakes Chem. Corp. 300 shares of
Common Stock 20,567.40 22,387.50
Green Tree Acceptance 600 shares of
Common Stock 21,435.00 28,800.00
</TABLE>
-13-
<PAGE> 17
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Harley Davidson Inc. 600 shares of
Common Stock $22,384.80 $26,475.00
Hasbro Inc. 600 shares of
Common Stock 22,759.80 21,750.00
Heilig-Meyers Company 1,050 shares of
Common Stock 21,040.60 40,950.00
Hershey Foods Corp. 500 shares of
Common Stock 23,904.00 24,500.00
Hewlett Packard Co. 300 shares of
Common Stock 21,542.40 23,700.00
Hillenbrand Industries 700 shares of
Inc. Common Stock 28,178.10 29,137.50
Hon Industries 900 shares of
Common Stock 22,050.00 25,200.00
Hunt J. B. Transportation 1,200 shares of
Common Stock 29,550.00 27,900.00
Intel Corp. 350 shares of
Common Stock 21,849.31 21,700.00
Kellogg Co. 450 shares of
Common Stock 27,988.60 25,537.50
Keycorp 750 shares of
Common Stock 28,562.25 26,531.25
Marshall & Ilsley Corp. 1,050 shares of
Common Stock 23,100.00 24,806.25
Martin Marietta Corp. 600 shares of
Common Stock 20,567.40 26,700.00
McDonalds Corp. 400 shares of
Common Stock 23,523.20 22,800.00
</TABLE>
-14-
<PAGE> 18
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Medtronic Inc. 350 shares of
Common Stock $30,045.30 $28,743.75
Minnesota Mng. & Mfg. Co. 250 shares of
Common Stock 26,193.75 27,187.50
Morrison Restaurants Inc. 1,200 shares of
Common Stock 22,800.00 31,500.00
Motorola, Inc. 400 shares of
Common Stock 23,891.00 36,900.00
Nucor Corp. 500 shares of
Common Stock 22,448.25 26,500.00
Old Kent Financial Corp. 800 shares of
Common Stock 26,875.00 23,900.00
Pall Corp. 1,100 shares of
Common Stock 21,376.30 20,212.50
Paychex Inc. 900 shares of
Common Stock 20,850.00 31,500.00
Pep Boys Manny Moe & Jack 900 shares of
Common Stock 20,977.20 23,625.00
Pfizer Inc. 400 shares of
Common Stock 26,698.20 27,600.00
Phillips-Van Heusen 800 shares of
Common Stock 22,046.40 30,000.00
Pioneer Hi Bred Intnl Inc. 800 shares of
Common Stock 21,600.00 31,200.00
Pitney Bowes Inc. 600 shares of
Common Stock 23,359.80 24,825.00
Quaker Oats Co. 350 shares of
Common Stock 22,639.05 24,850.00
</TABLE>
-15-
<PAGE> 19
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Raytheon Co. 400 shares of
Common Stock $24,385.60 $26,400.00
Reebok 900 shares of
Common Stock 31,052.19 27,000.00
Rollins Truck Leasing 1,500 shares of
Common Stock 22,587.00 28,687.50
Russell Corp. 950 shares of
Common Stock 28,961.35 26,837.50
Shaw Industries 1,400 shares of
Common Stock 23,403.10 35,700.00
Sherwin Williams Co. 700 shares of
Common Stock 21,390.60 25,025.00
Southtrust Corp. 1,200 shares of
Common Stock 22,100.00 22,800.00
Southwestern Bell Corp. 600 shares of
Common Stock 26,578.20 24,900.00
Stryker Corp. 950 shares of
Common Stock 30,750.00 26,837.50
Sun Microsystems 600 shares of
Common Stock 22,875.00 17,475.00
Superior Industries Int'l 750 shares of
Common Stock 16,341.50 32,062.50
Torchmark Corp. 500 shares of
Common Stock 27,816.50 22,500.00
UST Inc. 700 shares of
Common Stock 21,828.10 19,425.00
Vishay Intertechnology, 780 shares of
Inc. Common Stock 25,598.10 27,397.50
</TABLE>
-16-
<PAGE> 20
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Wachovia Corp. 600 shares of
Common Stock $20,454.90 $20,100.00
Walgreen Co. 500 shares of
Common Stock 20,216.50 20,437.50
Wausau Paper Mills 600 shares of
Common Stock 21,000.00 23,850.00
Winn-Dixie Stores 450 shares of
Common Stock 31,469.85 24,131.25
U. S. Treasury $100,000 U. S. Treasury
Notes, 8.5%, due
9/30/94 102,031.00 103,594.00
U. S. Treasury $100,000 U. S. Treasury
Notes, 8.375%, due
4/15/95 101,344.00 105,500.00
U. S. Treasury $100,000 U. S. Treasury
Notes, 7.5%, due
2/29/96 99,281.00 106,500.00
U. S. Treasury $100,000 U. S. Treasury
Notes, 7.25%, due
5/15/2016 103,093.75 108,188.00
U. S. Treasury $150,000 U. S. Treasury
Notes, 6.0%, due
12/31/97 152,992.19 155,671.50
U. S. Treasury $200,000 U. S. Treasury
Notes, 6.375%, due
8/15/2002 201,898.44 208,500.00
U. S. Treasury $200,000 U. S. Treasury
Notes, 6.375%, due
1/15/2000 206,710.94 210,126.00
U. S. Treasury $200,000 U. S. Treasury
Notes, 6.25%, due
2/15/2003 206,539.07 206,500.00
</TABLE>
-17-
<PAGE> 21
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
U. S. Treasury $200,000 U. S. Treasury
Notes, 6.0%, due
10/15/99 $205,625.00 $206,438.00
Federal Home Loan $50,000 FHLMC Bonds,
Mortgage Corp. 8.375%, due 3/15/2019 51,188.00 52,200.00
Federal Home Loan $100,000 FHLMC Bonds, 6.8%,
Mortgage Corp. due 6/15/2004 99,500.00 102,706.00
Federal National $50,000 FNMA Bonds, 8.4%,
Mortgage Corp. due 5/25/2018
Principal paydowns of
$45,868 in 1993 5,757.00 5,709.00
Federal National $100,000 FNMA Bonds, 8.25%
Mortgage Corp. due 3/25/2022 102,000.00 105,693.00
Government National $100,000 GNMA Bonds, 5.5%
Mortgage Assoc. due 6/20/2022
Principal paydowns of
$4,762 in 1993 97,113.00 91,797.00
FCC National Bank - $96,000 Certificate of
Wilmington Deposit, 7.25%, due
3/29/94 96,000.00 96,000.00
Continental Bank - $95,000 Certificate of
Chicago Deposit, 7.5%, due
4/24/95 95,000.00 95,000.00
FCC National Bank $47,000 Certificate of
Deposit, 7.3%, due
4/24/94 47,000.00 47,000.00
</TABLE>
-18-
<PAGE> 22
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Current
of issuer of investment Cost Value
- - ----------------------------------------------------------------------------------
<S> <C> <C> <C>
Ameritrust $50,000 Certificate of
Deposit, 7.55%, due
5/25/95 $50,000.00 $50,000.00
Bellsouth Telephone $50,000 Debenture Notes,
6.5%, due 2/1/2000 50,692.50 51,750.00
Chubb Capital $75,000 Debenture Notes,
6.0%, due 2/1/98 74,883.75 76,733.25
Exxon Corp. $50,000 Debenture Notes,
6.5%, due 7/15/99 51,425.00 52,126.00
GTE California $75,000 Debenture Notes,
6.25%, due 1/15/98 76,122.75 77,508.00
H. J. Heinz $75,000 Debenture Notes,
6.875%, due 1/15/2003 74,812.50 78,916.50
Lilly Electric Co. $50,000 Debenture Notes,
6.25%, due 3/15/2003 49,812.50 50,478.50
Merrill Lynch $100,000 Debenture Notes,
6.25%, due 10/15/98 98,754.00 95,241.00
Potomac Electric $100,000 Debenture Notes,
5.875%, due 10/15/2008 99,850.00 94,460.00
Republic NY $100,000 Debenture Notes,
5.875%, due 10/15/2008 96,578.00 93,442.00
Shell Oil Co. $51,000 Debenture Notes,
6.625%, due 7/1/99 53,136.90 53,516.34
Wal-Mart $50,000 Debenture Notes,
5.5%, due 3/1/98 49,844.50 50,310.00
------------- -------------
Totals $6,533,214.26 $8,118,691.96
============= =============
</TABLE>
-19-
<PAGE> 23
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Cost of Proceeds From
of issuer of investment Acquisitions Dispositions
- - ------------------------------------------------------------------------------------
<S> <C> <C> <C>
Duke Power Company $75,000 Debentures
Notes, 6.375%,
due February 1, 1998 $75,592.50 $75,625.00
Microsoft Corp. 250 shares of
Common Stock 23,250.00 22,000.00
Philip Morris Cos. Ins. 300 shares of
Common Stock 22,067.40 22,716.14
Atlantic Southeast 100 shares of
Airlines Common Stock 2,287.50 3,187.50
E-Systems Inc. 500 shares of
Common Stock 21,091.50 20,782.80
Lilly Eli & Co. 350 shares of
Common Stock 21,195.30 16,731.65
Boeing Co. 550 shares of
Common Stock 21,550.65 20,936.15
Conagra Inc. 700 shares of
Common Stock 22,790.60 17,546.31
Pacificare Health 400 shares of
Systems CL/A Common Stock 21,300.00 15,515.40
Atlantic Southeast 300 shares of
Airlines Common Stock 6,862.50 11,325.00
Buffets Inc. 700 shares of
Common Stock 23,100.00 25,239.06
Gap Inc. 700 shares of
Common Stock 22,878.10 25,596.04
Donaldson Co. Inc. 600 shares of
Common Stock 22,234.80 22,913.23
</TABLE>
-20-
<PAGE> 24
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Cost of Proceeds From
of issuer of investment Acquisitions Dispositions
- - ------------------------------------------------------------------------------------
<S> <C> <C> <C>
Fiserv Inc. 1,200 shares of
Common Stock $23,200.00 $21,750.00
Roadway Services Inc. 300 shares of
Common Stock 20,325.00 15,957.39
US Surgical Corp. 350 shares of
Common Stock 23,295.30 9,779.37
Superior Industries 200 shares of
International Common Stock 6,536.60 11,299.78
OEA Inc. 800 shares of
Common Stock 17,746.40 20,833.70
OEA Inc. 200 shares of
Common Stock 4,411.60 5,208.42
Archer Daniels Midland 900 shares of
Company Common Stock 20,514.00 20,647.11
Dovatron International 40 shares of
Inc. Common Stock 772.21 670.00
Therapeutic Discovery 70 shares of
Corp. Common Stock 437.50 341.25
Archer Daniels Midland 45 shares of
Company Common Stock 1,025.70 1,032.35
Cooper Tire & Rubber 600 shares of
Common Stock 20,809.80 13,014.76
Novell Inc. 700 shares of
Common Stock 21,000.00 13,300.00
Corning Inc. 600 shares of
Common Stock 22,684.80 15,285.62
EG & G Inc. 1,000 shares of
Common Stock 22,058.00 17,896.40
</TABLE>
-21-
<PAGE> 25
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
CONTINUED
DECEMBER 31, 1993
<TABLE>
<CAPTION>
Identity Description Cost of Proceeds From
of issuer of investment Acquisitions Dispositions
- - ------------------------------------------------------------------------------------
<S> <C> <C> <C>
Tambrands Inc. 350 shares of
Common Stock $21,282.80 $14,809.75
WMX Technologies Inc. 600 shares of
Common Stock 23,434.80 14,626.19
Medco Containment 600 shares of
Services Common Stock 22,350.00 23,400.00
Unifi Inc. 600 shares of
Common Stock 18,023.20 16,042.26
Unifi inc. 150 shares of
Common Stock 4,480.80 4,010.57
Rite Aid Corp. 1,000 shares of
Common Stock 20,558.00 15,430.88
Rite Aid Corp. 600 shares of
Common Stock 9,934.80 9,258.53
----------- -----------
Totals $631,082.16 $564,708.61
=========== ===========
</TABLE>
-22-
<PAGE> 26
TCA CABLE TV, INC.
DEFERRED SAVINGS AND RETIREMENT PLAN
ITEM 30d - SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
Current
Value on Net
Identity of Description of Purchase Selling Cost of Transaction Gain
Party Involved Asset Price Price Asset Date or (Loss)
- - ------------------ -------------- --------- ---------- ---------- ----------- ---------
<S> <C> <C> <C> <C> <C> <C>
TCA Cable TV, Inc.
/Merrill Lynch 20,234 shares
of TCA common
stock
contributed
to the Plan $ 466,899 $ - $ - $ 466,899 $ -
TCA Cable Tv, Inc.
/Merrill Lynch 153,000 shares
of TCA common
stock - 3,501,740 1,853,200 3,501,740 1,648,540
</TABLE>
-23-
