SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-K/A
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to
Commission File Number 1-8809
SCANA CORPORATION
(Exact name of registrant as specified in its charter)
SOUTH CAROLINA 57-0784499
(State or other jurisdiction of (IRS employer
incorporation or organization) identification no.)
1426 MAIN STREET, COLUMBIA, SOUTH CAROLINA 29201
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (803) 748-3000
Securities registered pursuant to 12(b) of the Act:
Title of each class Name of each exchange on which registered
Common Stock, without par value New York Stock Exchange
Securities registered pursuant to 12(g) of the Act:
None
(Title of class)
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes x No
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]
State the aggregate market value of the voting stock held by non-
affiliates of the registrant. The aggregate market value shall be computed by
reference to the price at which the stock was sold, or the average bid and
asked prices of such stock, as of a specified date within 60 days prior to the
date of filing. (See definition of affiliate in Rule 405.)
1
Note: If a determination as to whether a particular
person or entity is an affiliate cannot be made without involving
unreasonable effort and expense, the aggregate market value of
the common stock held by non-affiliates may be calculated on the
basis of assumptions reasonable under the circumstances, provided
that the assumptions are set forth in this form.
The aggregate market value of the voting stock held by
nonaffiliates of the registrant was $2,785,523,916 at February
28, 1997 based on the closing price of the Common Stock on such
date, as reported by the New York Stock Exchange composite tape
in The Wall Street Journal.
APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.
Yes No
(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
Indicate the number of shares outstanding of each of the
registrant's classes of common stock, as of the latest
practicable date.
The total number of shares of the registrant's Common Stock,
no par value, outstanding at February 28, 1997 was 106,622,925.
DOCUMENTS INCORPORATED BY REFERENCE.
List hereunder the following documents if incorporated by
reference and the Part of the Form 10-K (e.g., Part I, Part II,
etc.) into which the document is incorporated: (1) any annual
report to security-holders; (2) any proxy or information
statement; and (3) any prospectus filed pursuant to Rule 424(b)
or (c) under the Securities Act of 1933. The listed documents
should be clearly described for identification purposes (e.g.,
annual report to security-holders for fiscal year ended December
24, 1980).
(1) Specified sections of the Registrant's 1997 Proxy
Statement, dated March 17, 1997, in connection with its 1997
Annual Meeting of Stockholders, are incorporated by reference in
Part III hereof.
2
The undersigned registrant hereby amends the following
items, financial statements, exhibits or other portions of its
Annual Report on Form 10-K for the year ended December 31, 1996,
as set forth in the pages attached hereto:
(List all such items, financial statements, exhibits or
other portions amended.)
Item 8: Financial Statements and Supplementary Data
The above item has been amended to include the Financial
Statements for the Company's Stock Purchase-Savings Plan and the
Independent Auditors' Report thereon.
Item 14: Exhibits, Financial Statement Schedules and Reports on
Form 8-K
The above item has been amended to include the Financial
Statements for the Company's Stock Purchase-Savings Plan and the
Independent Auditors' Report thereon and Consent to the
incorporation of such report in the Company's registration
statements under the Securities Act of 1933, as amended.
PART II
ITEM 8: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
TABLE OF CONTENTS OF CONSOLIDATED FINANCIAL
STATEMENTS AND SUPPLEMENTARY FINANCIAL DATA
*Independent Auditors' Report
Consolidated Financial Statements:
*Consolidated Balance Sheets as of December 31, 1996 and 1995
*Consolidated Statements of Income and Retained Earnings for
the years ended December 31, 1996, 1995 and 1994
*Consolidated Statements of Cash Flows for the years ended
December 31, 1996, 1995 and 1994
*Consolidated Statements of Capitalization as of
December 31, 1996 and 1995
*Notes to Consolidated Financial Statements
Stock Purchase-Savings Plan: Page
**Independent Auditors' Report......................... 5
**Financial Statements and Notes thereto............... 6
Supplemental financial statement schedules are omitted
because of the absence of conditions under which they are
required or because the required information is included in the
consolidated financial statements or in the notes thereto.
* Previously filed with Form 10-K.
** Filed herein.
3
PART IV
Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON
FORM 8-K
(a) Documents filed as a part of this report:
1. Financial Statements and Schedules: See above for
amended Table of Contents of Consolidated Financial
Statements and Supplementary Financial Data of the
Company's Annual Report on Form 10-K.
3. Exhibits:
* Exhibits required to be filed with this Annual Report on
Form 10-K are listed in the following Exhibit Index.
Certain of such exhibits (except Exhibit 23) which have
heretofore been filed with the Securities and Exchange
Commission and which are designated by reference to
their exhibit numbers in prior filings are incorporated
herein by reference and made a part hereof.
** The Consent of the Independent Accountants (Exhibit 23)
has been revised and is filed herein.
As permitted under Item 601(b)(4)(iii), instruments defining
the rights of holders of long-term debt of less than
$400,000,000, or 10 percent of the total consolidated assets
of the Company and its subsidiaries, have been omitted and
the Company agrees to furnish a copy of such instruments to
the Commission upon request.
(b) Reports on Form 8-K
None
* Previously filed with Form 10-K.
** Filed herein.
4
TO PARTICIPATING EMPLOYEES:
For your information there are submitted herewith the financial
statements of the Stock Purchase-Savings Plan for the years ended
December 31, 1996, 1995 and 1994, together with related Notes and
Independent Auditors' Report.
s/K. B. Marsh
K. B. Marsh
Chairman of the SCANA Corporation
Stock Purchase-Savings Plan Committee
INDEPENDENT AUDITORS' REPORT
SCANA CORPORATION
STOCK PURCHASE-SAVINGS PLAN:
We have audited the Statements of Financial Position of the SCANA
Corporation Stock Purchase-Savings Plan (the "Plan") as of
December 31, 1996, 1995 and 1994, and the related Statements of
Changes in Participants' Equity for the years then ended. These
financial statements are the responsibility of the Committee for
Administration of the Plan (the "Committee"). 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 the Committee, as well as
evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our
opinion.
In our opinion, such financial statements present fairly, in all
material respects, the financial position of the Plan as of
December 31, 1996, 1995 and 1994 and its changes in participants'
equity 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
of 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 are the responsibility of
the Plan's management. Such supplemental schedules have been
subjected to the auditing procedures applied in our audits of the
basic financial statements and, in our opinion, are fairly stated
in all material respects when considered in relation to the basic
financial statements taken as a whole.
s/Deloitte & Touche LLP
DELOITTE & TOUCHE LLP
Columbia, South Carolina
March 14, 1997
5
SCANA CORPORATION
STOCK PURCHASE-SAVINGS PLAN
STATEMENTS OF FINANCIAL POSITION
As of December 31, 1996, 1995 and 1994
(Thousands of Dollars)
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
TOTAL COMMON SAVINGS COMMON
December 31, 1996 PLAN STOCK BONDS STOCK
Assets:
Investments In Securities:
SCANA Corporation - 8,605,920
shares of common stock - at
market value (cost - $174,853)
(Note 3)....................... $230,208 $112,321 $ - $117,887
United States Savings Bonds -
Series E & EE - at cost........ 320 - 320 -
Total Investments In
Securities.................. 230,528 112,321 320 117,887
Cash............................. 5 5 - -
Receivables From Participants
(Note 2)........................ 13,944 13,944 - -
Receivable From SCANA
Corporation - Dividends......... 3,139 1,528 - 1,611
TOTAL ASSETS.............. $247,616 $127,798 $320 $119,498
PARTICIPANTS' EQUITY............. $247,616 $127,798 $320 $119,498
See Notes to Financial Statements.
6
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
TOTAL COMMON SAVINGS COMMON
December 31, 1995 PLAN STOCK BONDS STOCK
Assets:
Investments In Securities:
SCANA Corporation - 8,333,328
shares of common stock - at
market value (cost - $160,484)
(Note 3)....................... $238,541 $115,464 $ - $123,077
United States Savings Bonds -
Series E & EE - at cost........ 332 - 332 -
Total Investments In
Securities.................. 238,873 115,464 332 123,077
Cash............................. 5 5 - -
Receivables From Participants
(Note 2)........................ 12,448 12,448 - -
Receivable From SCANA
Corporation - Dividends......... 2,968 1,432 - 1,536
TOTAL ASSETS.............. $254,294 $129,349 $332 $124,613
PARTICIPANTS' EQUITY............. $254,294 $129,349 $332 $124,613
See Notes to Financial Statements.
7
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
TOTAL COMMON SAVINGS COMMON
December 31, 1994 PLAN STOCK BONDS STOCK
Assets:
Investments In Securities:
SCANA Corporation - 7,819,048
shares of common stock - at
market value (cost - $144,864)
(Note 3)....................... $164,689 $77,652 $ - $87,037
United States Savings Bonds -
Series E & EE - at cost........ 366 - 366 -
Total Investments In
Securities.................. 165,055 77,652 366 87,037
Cash............................. 5 5 - -
Receivables From Participants
(Note 2)........................ 13,433 13,433 - -
Receivable From SCANA
Corporation - Dividends......... 2,715 1,273 - 1,442
TOTAL ASSETS.............. $181,208 $92,363 $366 $88,479
PARTICIPANTS' EQUITY............. $181,208 $92,363 $366 $88,479
See Notes to Financial Statements.
8
SCANA CORPORATION
STOCK PURCHASE-SAVINGS PLAN
STATEMENTS OF CHANGES IN PARTICIPANTS' EQUITY
For the years ended December 31, 1996, 1995 and 1994
(Thousands of Dollars)
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
Year Ended TOTAL COMMON SAVINGS COMMON
December 31, 1996 PLAN STOCK BONDS STOCK
Investment Income - Dividends
On Common Stock Of SCANA
Corporation and Other............ $ 13,295 $ 6,915 $ - $ 6,380
Contributions (Note 2):
Company and participating
subsidiaries.................... 8,474 - - 8,474
Participating employees.......... 9,293 9,293 -
Total....................... 31,062 16,208 - 14,854
Deduct:
Distributions to participants... 21,892 10,075 12 11,805
Net depreciation in market
value of common stock of
SCANA Corporation (Note 3).... 15,848 7,684 - 8,164
Net Decrease In
Participants' Equity............. (6,678) (1,551) (12) (5,115)
Participants' Equity, Beginning
Of Year.......................... 254,294 129,349 332 124,613
Participants' Equity, End Of Year. $247,616 $127,798 $320 $119,498
See Notes to Financial Statements.
9
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
Year Ended TOTAL COMMON SAVINGS COMMON
December 31, 1995 PLAN STOCK BONDS STOCK
Investment Income - Dividends
On Common Stock Of SCANA
Corporation And Other............ $ 12,570 $ 6,490 $ - $ 6,080
Net Appreciation In Market
Value Of Common Stock
Of SCANA Corporation............. 61,501 29,571 - 31,930
Contributions (Note 2):
Company and participating
subsidiaries.................... 8,561 - - 8,561
Participating employees.......... 9,350 9,350 - -
Total....................... 91,982 45,411 - 46,571
Deduct:
Distributions to participants.... 18,896 8,425 34 10,437
Net Increase (Decrease)
In Participants' Equity.......... 73,086 36,986 (34) 36,134
Participants' Equity, Beginning
Of Year.......................... 181,208 92,363 366 88,479
Participants' Equity, End Of Year. $254,294 $129,349 $332 $124,613
See Notes to Financial Statements.
10
ACQUIRED WITH ACQUIRED WITH
EMPLOYEES' COMPANY
CONTRIBUTIONS CONTRIBUTIONS
SCANA U.S. SCANA
Year Ended TOTAL COMMON SAVINGS COMMON
December 31, 1994 PLAN STOCK BONDS STOCK
Investment Income - Dividends
On Common Stock Of SCANA
Corporation and Other............ $ 11,414 $ 5,796 $ - $ 5,618
Contributions (Note 2):
Company and participating
subsidiaries.................... 8,986 - - 8,986
Participating employees.......... 9,849 9,849 - -
Total....................... 30,249 15,645 - 14,604
Deduct:
Distributions to participants.... 14,257 5,429 48 8,780
Net depreciation in market
value of common stock of
SCANA Corporation (Note 3)..... 27,709 12,734 - 14,975
Total....................... 41,966 18,163 48 23,755
Net Increase (Decrease)
In Participants' Equity.......... (11,717) (2,518) (48) (9,151)
Participants' Equity, Beginning
Of Year.......................... 192,925 94,881 414 97,630
Participants' Equity, End Of Year. $181,208 $92,363 $366 $88,479
See Notes to Financial Statements.
11
SCANA CORPORATION
STOCK PURCHASE-SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. Significant Accounting Policies:
Basis of Accounting
The accompanying financial statements have been prepared on the
accrual basis of accounting.
Investments
Common stock investments in the accompanying financial statements
are stated at market value and bonds are stated at cost, which
approximates fair value. Costs of administering the Stock Purchase
Savings Plan (Plan) are paid by the Plan sponsor, SCANA Corporation
(Company).
Use of Estimates
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amount of revenues and
expenses during the reporting period. Actual results could differ from
those estimates.
Reclassifications
Certain 1995 and 1994 amounts have been reclassified to conform
with the 1996 presentation.
2. Plan Information:
The following description of the Plan provides only general
information. Participants should refer to the Plan agreement for a
complete description of the Plan's provisions.
The Plan is designed to encourage voluntary systematic savings by
employees with the Company's and participating subsidiaries'
contributions as an added incentive. The Company and participating
subsidiaries match employee contributions made through payroll
deductions of up to 6% of eligible earnings. Employees may contribute
up to an additional 9% of eligible earnings but such additional
contributions are not supplemented by the Company's and participating
subsidiaries' contributions. Employee contributions are invested in
common stock of the Company or, prior to November 1, 1988, such
contributions could, in the alternative, have been invested in United
States Savings Bonds. The Company's and participating subsidiaries'
contributions are invested only in shares of common stock of the
Company. Effective July 1, 1989, Company and participating
subsidiaries' contributions are fully and immediately vested.
The Plan, as amended, allows Participants to contribute up to 15%
of eligible earnings on an after-tax basis (Regular Savings) or before-
tax basis (Tax Deferred Savings), except that "highly compensated
employees" within the context of Internal Revenue Code of 1986 ("Code"),
as amended, Section 414(q) have been subject to Tax Deferred
contribution limitations of 6% or less pursuant to the limitation of
Code Section 401(k)(3) and the Regulations thereunder. Regular Savings
are included in wages subject to federal or state income tax
withholding, whereas Tax Deferred Savings are exempt from withholding of
federal or state income tax. Participants may request a distribution in
the form of whole shares or cash of all securities and earnings credited
to their Regular Savings accounts (cash is distributed for fractional
shares). The Plan does not guarantee that market value of the
securities at date of distribution will equal or exceed cost.
Participants may not request a distribution from their Tax Deferred
Savings accounts before age 59-1/2 unless they can demonstrate a
hardship.
12
Participants may request a loan from their Tax Deferred and Regular
Savings accounts. Loans are made available based on the asset value in
a Participant's Tax Deferred and Regular Savings accounts at the time of
the loan, but in any case, not less than $500 or greater than $50,000.
Assets equal to the amount of the loan are converted into cash by the
Trustee and made available to the borrowing Participant; the Participant
no longer earns interest or dividends on the liquidated assets. The
period of repayment for any loan cannot exceed five years, except a loan
used to acquire the principal residence of the Participant may be
extended to a maximum of ten years. All payments of the loan, including
interest, are used to repurchase shares of SCANA common stock on behalf
of the Participant. A Participant may have no more than two loans from
the Plan outstanding at a time. Upon termination of employment or
death, the outstanding balance of the loan may be paid in full or will
be converted to taxable income on the distribution to the participant or
the participant's beneficiary; if the terminating Participant elects to
delay distribution (permissible when the present value of the
Participant's vested accrued benefit exceeds $3,500), an unpaid loan
balance may be converted to taxable income prior to the distribution of
assets to the Participant. Participants may receive a distribution of
all securities and earnings credited to their Tax Deferred Savings
accounts in the event of retirement, disability, termination of
employment or death.
Participants may request a distribution of all Company
Contributions which have been in existence for two years following the
close of the Plan Year during which they were made, even if they elected
to contribute on a tax deferred basis. If the participant has
participated in the Plan for at least five years, all Company
contributions are eligible for distribution.
Distribution due to the death of the Participant will be made to
the surviving spouse, unless there is no surviving spouse or the spouse
has consented in writing to distribution to a beneficiary designated by
the Participant.
At December 31, 1996, 1995 and 1994, there were 753, 795 and 922
participants, respectively, (including former employees) in the Regular
Savings Option and 2,854, 2,876 and 3,237 participants, respectively, in
the Tax Deferred Savings Option. At February 21, 1997 all of the
Company's and the Company's participating subsidiaries' 4,118 employees
were eligible to participate in the Plan, and payroll deductions under
the Plan were in effect for 3,637 employees. At the SCANA Board of
Directors meeting held on August 25, 1993, the Board voted that all
temporary employees hired in such capacity on or after October 30, 1993
not be permitted to participate in the Plan. On December 14, 1994, the
Employee Plans Committee, created by the Board of Directors on December
15, 1993 for the purpose of reviewing and adopting most plan amendments,
reversed the exclusion of temporary employees from plan participation.
The Plan, as amended through 1996, has been approved by the Internal
Revenue Service (IRS) as a qualified employees' trust under Section
401(a) of the Internal Revenue Code and, as such, is exempt from federal
income taxes under Section 501(a). Participants are not taxed on the
income earned or Company contributions made for their accounts, pursuant
to the provisions of Section 401(a) of the Internal Revenue Code, until
such time as the employees or their beneficiaries receive distributions
from the Plan.
First Union National Bank of South Carolina is the Trustee pursuant
to a Trust Agreement executed on December 16, 1991.
13
3. Appreciation (Depreciation) in Market Value of Common Stock:
The cost, market value and appreciation (depreciation) in market
value of common stock of SCANA Corporation as of and for the years ended
December 31, 1996, 1995 and 1994 are summarized as follows (thousands of
dollars):
Market Excess of Market
Number Quotation Value Over Cost
of Shares Cost Value (Cost Over Value)
Market)
December 31, 1996:
Employee 4,198,916 $ 88,800 $112,321 $ 23,521
Company 4,407,004 86,053 117,887 31,834
Total 8,605,920 $174,853 $230,208 $ 55,355
December 31, 1995: 8,333,328 $160,484 $238,541 $ 78,057
Decrease in Unrealized Appreciation, Net................................. (22,702)
Appreciation Realized on Withdrawals..................................... 6,854
Net Depreciation in Market Value of Common Stock - Year
ended December 31, 1996.............................................. $(15,848)
December 31, 1994: 7,819,048 $144,864 $164,689 $ 19,825
Increase in Unrealized Appreciation, Net................................. $ 58,232
Appreciation Realized on Withdrawals..................................... 3,269
Net Appreciation in Market Value of Common Stock - Year
ended December 31, 1995.............................................. $ 61,501
December 31, 1993: 7,077,446 $125,260 $176,051 $ 50,791
Decrease in Unrealized Appreciation, Net................................. $(30,966)
Unrealized Depreciation on Shares Transferred from ESOP (Note 2)......... -
Appreciation Realized on Withdrawals..................................... 3,257
Net Depreciation in Market Value of Common Stock - Year
ended December 31, 1994.............................................. $(27,709)
14
4. Accounts Payable to Participants and Former Participants:
Amounts included in participants' equity to be distributed
to participants and former participants were $1,178,019,
$1,648,543 and $1,219,970 at December 31, 1996, 1995 and 1994,
respectively.
5. Appreciation in Market Value of U. S. Savings Bonds:
Investments in U. S. Savings Bonds are reported at cost.
When a participant requests a loan, the U. S. Savings Bonds are
redeemed at their market value (cost plus interest earned) and
the cash is provided to the participant. Therefore, although the
U. S. Savings Bonds are reported at cost, appreciation is
realized when the bonds are redeemed for purposes of providing a
loan.
15
SCANA Corporation
STOCK PURCHASE-SAVINGS PROGRAM FOR EMPLOYEES
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES (ITEM 27a)
AS OF DECEMBER 31, 1996 (Thousands of Dollars)
CURRENT
DESCRIPTION COST VALUE
SCANA Corporation Common Stock $174,853 $230,208
United States Savings Bonds 320 320
Loans to participants 13,944 13,944
$189,117 $244,472
16
SCANA CORPORATION
STOCK PURCHASE-SAVINGS PROGRAM FOR EMPLOYEES
SUPPLEMENTAL SCHEDULE OF REPORTABLE TRANSACTIONS (ITEM 27d)
AS OF DECEMBER 31, 1996 (Thousands of Dollars)
DURING THE YEAR ENDED December 31, 1996 THE FOLLOWING TRANSACTIONS WERE MADE IN THE COMMON STOCK OF SCANA
CORPORATION, WHOSE EMPLOYEES ARE COVERED BY THE PROGRAM.
COST OF NET GAIN
PURCHASE SELLING ASSETS FROM
NUMBER OF SHARES PRICE PRICE SOLD SALE
$ $ $ $
PURCHASED 1,372,910 37,165 - - -
SALES FOR DISTRIBUTION TO
PARTICIPANTS FOR WITHDRAWALS 793,684 - 21,455 15,902 5,553
SALES FOR 401K EMPLOYEE
LOANS - STOCK 306,634 - 8,195 6,894 1,301
17
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Post-
Effective Amendment No. 1 to Registration Statement No. 33-32107
on Form S-3, Post-Effective Amendment No. 1 to Registration
Statement No. 33-49333 on Form S-8, Post Effective Amendment No.
1 to Registration Statement No. 33-55861 on Form S-3, Post-
effective Amendment No. 2 on Registration Statement No. 33-50571
on Form S-3, Post-Effective Amendment No. 1 to Registration
Statement No. 33-56923 on Form S-8, Registration Statement No.
333-18149 on Form S-3 and Registration Statement No. 333-
18973 on Form S-8 of our report dated March 14, 1997 on the
SCANA Corporation Stock Purchase-Savings Plan appearing in this
Annual Report on Form 10-K of SCANA Corporation for the year
ended December 31, 1996, as amended.
s/Deloitte & Touche LLP
DELOITTE & TOUCHE LLP
Columbia, South Carolina
April 10, 1997
18