EXHIBIT (99)c
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
____________________
FORM 11-K
____________________
/X/ Annual report pursuant to Section 15(d) of the Securities Exchange Act of
_ 1934
For the Fiscal Year Ended December 31, 1995
OR
/_/ Transition report pursuant to Section 15(d) of the Securities Exchange
Act of 1934
For the transition period from ________ to ________
Commission file number 1-5152
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
PACIFICORP
K PLUS EMPLOYEE SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
PACIFICORP
700 N.E. Multnomah
Suite 1600
Portland, Oregon 97232
Table of Contents
PAGE
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS FOR THE YEARS
ENDED DECEMBER 31, 1995 AND 1994:
Statements of Net Assets Available for Benefits 2
Statements of Changes in Net Assets Available for Benefits 3
Notes to Financial Statements 4-9
SUPPLEMENTAL SCHEDULES FOR THE YEAR ENDED
DECEMBER 31, 1995:
Item 27a - Schedule of Assets Held for Investment Purposes 10-11
Item 27d - Schedule of Reportable Transactions - Single 12
Item 27d - Schedule of Reportable Transactions - Series 13
1
INDEPENDENT AUDITORS' REPORT
PacifiCorp K Plus Employee Savings Plan:
We have audited the accompanying financial statements of the PacifiCorp K Plus
Employee Savings Plan as of December 31, 1995 and 1994 and for the years then
ended, listed in the Table of Contents. 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, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31,
1995 and 1994, and the changes in net assets available for 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 accompanying supplemental
schedules for the year ended December 31, 1995, listed in the Table of
Contents, 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. These supplemental schedules are the responsibility of the Plan's
management. Such schedules have been subjected to the auditing procedures
applied in our audit of the basic 1995 financial statements and, in our
opinion, are fairly stated in all material respects when considered in
relation to the 1995 basic financial statements taken as a whole.
DELOITTE & TOUCHE LLP
Portland, Oregon
April 26, 1996
2
PacifiCorp
K Plus Employee Savings Plan
Statement of Net Assets Available for Benefits
December 31, 1995 and 1994
1995 1994
ASSETS:
Investments (stated at fair value):
Common Stock:
PacifiCorp $ 69,099,009 $ 62,479,086
Pacific Telecom, Inc. - 9,446,460
Other - 86,943,703
Mutual Funds 180,126,286 -
United States government obligations - 9,697,843
Corporate bonds - 13,814,261
Guaranteed investment contracts 62,590,976 77,944,936
Temporary cash investments 16,524,124 7,848,991
Participant loans 20,911,145 9,203,094
___________ ___________
Total investments 349,251,540 277,378,374
___________ ___________
Receivables:
Due from brokers 506,425 126,361
Dividends and interest 544,522 371,985
Participant contributions 995,351 818,097
Other 34,973 -
___________ ___________
Total receivables 2,081,271 1,316,443
___________ ___________
Total assets 351,332,811 278,694,817
___________ ___________
LIABILITIES:
Due to brokers 753,420 951,956
Due to fund managers - 53,092
Loans payable to participants 1,147,904 -
___________ ___________
Total liabilities 1,901,324 1,005,048
___________ ___________
NET ASSETS AVAILABLE FOR BENEFITS $349,431,487 $277,689,769
=========== ===========
<FN>
See notes to financial statements.
</FN>
3
PacifiCorp
K Plus Employee Savings Plan
Statement of Changes in Net Assets Available for Benefits
December 31, 1995 and 1994
1995 1994
INCREASES TO NET ASSETS ATTRIBUTED TO:
Investment income:
Dividends $ 11,952,936 $ 4,879,216
Net appreciation (depreciation) in
fair value of investments (Note 4) 39,163,119 (4,290,502)
Interest and other income 7,452,109 7,253,002
___________ ___________
Total investment income (Note 3) 58,568,164 7,841,716
Participant contributions (Note 3) 31,809,258 29,599,662
Deposits from prior trustees - 73,440
Transfers in and other receipts 883,810 398,764
___________ ___________
Total increases 91,261,232 37,913,582
___________ ___________
DECREASES TO NET ASSETS ATTRIBUTED TO:
Participant withdrawals (Note 3) 19,060,255 12,837,486
Administrative expenses 459,259 619,974
___________ ___________
Total decreases 19,519,514 13,457,460
___________ ___________
NET INCREASE 71,741,718 24,456,122
NET ASSETS AVAILABLE FOR BENEFITS
BEGINNING OF YEAR 277,689,769 253,233,647
___________ ___________
NET ASSETS AVAILABLE FOR BENEFITS
END OF YEAR $349,431,487 $277,689,769
=========== ===========
<FN>
See notes to financial statements.
</FN>
4
PacifiCorp
K Plus Employee Savings Plan
Notes to Financial Statements
Years Ended December 31, 1995 and 1994
1. PLAN DESCRIPTION
The following brief description of the PacifiCorp K Plus Employee Savings
Plan (the "Plan") is provided for general information purposes only.
Participants should refer to the Plan document for more complete
information.
GENERAL - Effective January 1, 1988, PacifiCorp (the "Company") and most
of its subsidiaries ("Employers") adopted the Plan. The Plan is a
tax-qualified employee savings plan covering all eligible employees of
the Employers. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 ("ERISA").
ELIGIBILITY - Qualified employees of the Employers (excluding certain
casual employees, and employees covered by a collective bargaining
agreement that does not provide for participation in the Plan) become
eligible to participate after completing one month of service as defined
in the Plan.
PARTICIPANT CONTRIBUTIONS - Eligible employees may elect to have a
portion of their compensation contributed to the Plan ("Pre-Tax
Contributions"). Different percentages can apply to separate Employers,
but in no event will the percentage be more than 16% of compensation.
Each Employer makes a matching contribution each year for each of its
employees participating in Pre-Tax Contributions ("Matching
Contribution"). The Matching Contribution is a percentage of the
participant's Pre-Tax Contribution for the year, up to 6% of the
participant's compensation for the year. The Matching Contribution is
50% or a percentage fixed in the Employer's adoption statement or by
resolution of the Board of Directors of the Employer and announced to
participants, or pursuant to a collective bargaining agreement. Other
than for employees covered by certain collective bargaining agreements,
the Matching Contribution is made to the PacifiCorp K Plus Employee Stock
Ownership Plan.
VESTING - Pre-Tax Contributions are fully vested at all times.
PARTICIPANT ACCOUNTS - Each participant account is credited with Pre-Tax
Contributions and an allocation of the Plan's earnings. Contributions
are credited based on the participant's election and earnings are
allocated based on participant account balances.
DISTRIBUTIONS AND WITHDRAWALS - Benefits are payable at retirement or
other termination in a lump sum or through installments. Pre-tax
Contributions may be withdrawn due to financial hardship, subject to
approval.
TERMINATION - The Company may wholly or partially terminate the Plan or
direct the discontinuance of contributions at any time.
5
RECLASSIFICATIONS - Certain reclassifications have been made to prior
year balances in order to conform with current year presentation. These
reclassifications had no effect on previously reported net assets
available for benefits.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENT VALUATION - The investments in PacifiCorp and Pacific Telecom,
Inc. common stock are stated at fair value based on published market
quotations at year end. The Pacific Telecom, Inc. Stock Fund was
discontinued in 1995. [See Note 7.] The per share market values at
December 31, 1995 and 1994 were:
1995 1994
PacifiCorp common stock $21.125 $18.125
Pacific Telecom, Inc. common stock - 30.000
The Plan's investments are stated at fair value except for its guaranteed
contracts which are stated at cost plus interest received in the fund.
Investments in mutual funds are stated at fair value based on quoted
market prices. Participant loans are valued at cost which approximates
fair value.
INVESTMENT TRANSACTIONS AND INVESTMENT INCOME - Investment transactions
are accounted for on the date the investments are purchased or sold
(trade date). Interest income is recorded as earned. Dividend income is
recorded on the ex-dividend date. Changes in fair value of investments
during the year are shown as net appreciation (depreciation) in fair
value of investments.
FEDERAL INCOME TAXES - The Plan is a tax-qualified retirement plan in
accordance with Section 401(a) of the Internal Revenue Code of 1986, as
amended (the "Code"), and related provisions. The Plan includes elective
contribution provisions designed to qualify under Code Section 401(k) and
related provisions. The Company has received a determination letter in
which the Internal Revenue Service stated that the Plan, as then
designed, was in compliance with the applicable requirements of the Code.
The Plan has been amended 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 Code. Therefore, no provision for income taxes has
been included in the Plan's financial statements.
BENEFITS PAYABLE - As of December 31, 1995 and 1994, net assets available
for benefits included benefits of $226,267 and $1,390,153, respectively,
due to participants who have withdrawn from participation in the Plan.
ADMINISTRATIVE EXPENSES - The Plan provides that each employer may pay
administrative costs and expenses of the Plan; those costs not paid by
each employer are paid from Plan assets.
LOANS TO PARTICIPANTS - Amounts borrowed by participants are recorded as
participant loans and increase the balance of the Participant Loans.
USE OF ESTIMATES - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect reported amounts of assets and
liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.
6
3. INVESTMENT PROGRAMS AND FUND INFORMATION
Plan assets are held by the Trustee in investment funds as follows:
A. The Equity Fund, which consists primarily of equity investments and
cash equivalents.
B. The Balanced Fund, which consists primarily of equity investments
and fixed income and debt instruments.
C. The Bond Fund, which consists primarily of U.S. Treasury, U.S.
Government Agency, and Corporate bonds.
D. The Stable Asset Fund, which consists primarily of guaranteed
investment contracts.
E. The PacifiCorp Stock Fund, which consists primarily of common stock
of PacifiCorp.
F. The Pacific Telecom Stock Fund, which was discontinued in 1995 (see
Note 7) consisted primarily of common stock of Pacific Telecom, Inc.
G. The Participant Loans, which consists of promissory notes resulting
from loans to participants. Each participant's interest in this
fund is accounted for separately.
H. The Money Market Fund, which consists solely of U.S. Treasury
Securities.
I. The Aggressive Equity Fund, which consists of equity instruments of
smaller and medium sized companies.
J. The International Equity Fund, which consists of equity instruments
of non-U.S. companies.
K. The Life Path Funds, which consist of various proportions of equity
instruments and fixed income and debt instruments.
Participant contributions, participant withdrawals/loan disbursements,
and investment income by fund are as follows for the years ended
December 31, 1995 and 1994:
1995 1994
Participant contributions:
Equity Fund $ 9,681,817 $ 9,735,493
Balanced Fund 5,314,634 4,855,355
Bond Fund 1,097,784 1,169,213
Stable Asset Fund 5,244,091 5,637,205
PacifiCorp Stock Fund 6,530,308 7,168,676
Pacific Telecom Stock Fund 661,002 1,033,720
Aggressive Equity Fund 953,577 -
International Equity Fund 161,520 -
Money Market Fund 127,908 -
Life Path 2000 12,129 -
Life Path 2010 75,058 -
Life Path 2020 72,887 -
Life Path 2030 43,176 -
Life Path 2040 29,757 -
Pending investment account 1,803,610 -
__________ __________
Total $31,809,258 $29,599,662
========== ==========
7
1995 1994
Participant withdrawals/loan disbursements:
Equity Fund $ 7,917,953 $ 2,711,717
Balanced Fund 4,661,321 1,835,819
Bond Fund 942,736 546,910
Stable Asset Fund 9,920,393 7,997,274
PacifiCorp Stock Fund 5,350,586 3,273,700
Pacific Telecom Stock Fund 1,190,132 291,155
Aggressive Equity Fund 357,925 -
International Equity Fund 11,149 -
Money Market Fund 83,961 -
Life Path 2000 22,799 -
Life Path 2010 43,220
Life Path 2020 30,772 -
Life Path 2030 (342) -
Life Path 2040 2,977 -
Pending distribution account (326,404) -
Participant Loans Fund (11,148,923) (3,819,089)
___________ __________
Total $ 19,060,255 $12,837,486
=========== ==========
Investment income (loss):
Equity Fund $24,430,637 $ (684,872)
Balanced Fund 10,527,359 706,076
Bond Fund 1,449,465 (219,251)
Stable Asset Fund 5,231,226 5,396,482
PacifiCorp Stock Fund 13,808,880 907,942
Pacific Telecom Stock Fund 298,704 1,732,847
Aggressive Equity Fund 1,828,251 -
International Equity Fund 56,787 -
Money Market Fund 52,798 -
Life Path 2000 20,079 -
Life Path 2010 42,096 -
Life Path 2020 43,754 -
Life Path 2030 22,954 -
Life Path 2040 25,796 -
Pending distribution account 9,209 -
Pending investment account 19,193 -
Participant Loans Fund 700,976 2,492
__________ __________
Total $58,568,164 $ 7,841,716
========== ==========
The pending accounts consist of cash held at year end awaiting investment
or distribution.
8
4. NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS
For the years ended December 31, 1995 and 1994, the Plan's investments
appreciated (depreciated) in fair value as follows:
1995 1994
PacifiCorp common stock $ 9,966,263 $(2,377,612)
Pacific Telecom, Inc. common stock (19,774) 1,360,080
Mutual funds and other 29,216,630 (3,272,970)
__________ __________
Total $39,163,119 $(4,290,502)
========== ==========
5. RELATED-PARTY TRANSACTIONS
Purchases of employer-related stock during the years ended December 31,
1995 and 1994 were as follows:
PacifiCorp Pacific Telecom
_______________________ ________________________
Number Number
of Shares Cost of Shares Cost
Balance, December 31, 1993 2,707,347 $51,883,642 241,263 $ 5,873,808
Purchases 883,905 15,336,260 80,849 1,989,010
Sales (75,630) (1,431,880) (4,415) (107,108)
Distributed to participants (68,500) (1,199,085) (2,815) (74,741)
_________ __________ ________ __________
Balance, December 31, 1994 3,447,122 64,588,937 314,882 7,680,969
Purchases 267,420 5,133,246 14,050 422,483
Sales (413,036) (7,863,152) (328,790) (8,099,731)
Distributed to participants (30,547) (552,113) (142) (3,721)
_________ __________ ________ __________
Balance, December 31, 1995 3,270,959 $61,306,918 - $ -
========= ========== ======== ==========
6. INVESTMENTS EXCEEDING 5% OF NET ASSETS AVAILABLE FOR BENEFITS
Investments which exceeded 5% of net assets available for benefits as of
December 31, 1995 and 1994 are as follows:
1995 1994
PacifiCorp Common Stock $69,099,009 $62,479,086
Wells Fargo Bank Equity Index Fund - 18,018,740
Dodge & Cox Balanced Fund 52,060,057 -
Columbia Management Equity Fund 85,889,537 -
Putnam New Opportunities Fund 21,712,741 -
9
7. MERGER OF PACIFIC TELECOM, INC.
On September 27, 1995, holders of a majority of the 5.3 million shares of
outstanding common stock held by minority shareholders of Pacific
Telecom, Inc. voted in favor of the merger of an indirectly wholly-owned
subsidiary of the Company into Pacific Telecom, Inc. As a result of the
merger, the common stock held by minority shareholders [other than shares
as to which dissenters' rights were perfected] were converted into the
right to receive $30 per share in cash and Pacific Telecom, Inc. became
an indirectly wholly-owned subsidiary of the Company.
8. CONCENTRATION OF RISK
The Plan's assets consist primarily of financial instruments including
temporary cash investments, investment contracts, PacifiCorp common
stock, mutual funds, and participant loans. The financial instruments
may subject the Plan to concentrations of risk, as from time to time,
cash balances exceed amounts insured by the Federal Deposit Insurance
Corporation, market value of securities are dependent on the ability of
the issuer to honor its contractual commitments, and investments in
common stock are subject to changes in market values of the stock.
* * * * * *
10
PacifiCorp K Plus
Employee Savings Plan
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1995
IDENTITY OF ISSUE, SHARES OR CURRENT
BORROWER, OR SIMILAR PARTY FACE VALUE COST VALUE
MUTUAL FUNDS:
Dodge & Cox Balanced Fund 953,481 $ 49,678,113 $ 52,060,057
Stagecoach Inc. Bond Index Fund 932,860 9,085,440 9,263,299
Columbia Management Equity Fund 4,620,201 80,011,682 85,889,537
Putnam New Opportunities Fund 587,625 19,904,962 21,712,741
T. Rowe Price International Stock Fund 181,735 2,230,059 2,222,619
Vanguard Admiral Funds Inc. 5,600,623 5,600,623 5,600,623
Life Path 2000 Fund 61,367 649,637 651,720
Life Path 2010 Fund 90,504 1,005,656 1,022,698
Life Path 2020 Fund 77,376 887,922 907,619
Life Path 2030 Fund 31,096 365,055 375,330
Life Path 2040 Fund 33,793 407,625 420,043
___________ ___________
Total Mutual Funds 169,826,774 180,126,286
___________ ___________
COMMON STOCK:
PacifiCorp Common Stock 3,270,959 61,306,918 69,099,009
___________ ___________
GUARANTEED INVESTMENT CONTRACTS:
Transamerica Oxy, 8.63%, due 2/16/96 748,324 748,324
The Travelers, 8.90%, due 7/31/96 1,716,234 1,716,234
Sun Life Assurance, 5.64%, due 12/27/98 2,212,920 2,212,920
Sun Life Assurance, 5.98%, due 3/18/98 1,170,060 1,170,060
First Allmerica Financial Life Ins.,
7.04%, due 5/12/99 838,550 838,550
First Allmerica Financial Life Ins.,
7.04%, due 3/12/99 838,550 838,550
Safeco Life Ins., 7.29%, due 4/3/97 636,859 636,859
Principal Mutual, 5.75%, due 5/29/98 1,158,471 1,158,471
Life of Virginia, 6.56%, due 11/4/97 2,405,704 2,405,704
Life of Virginia, 5.73%, due 6/30/98 1,714,355 1,714,355
Hartford Life, 7.50%, due 8/27/99 1,102,095 1,102,095
Lincoln National, 6.89%, 2/28/97 1,944,634 1,944,634
Prudential Life, 7.04%, due 12/31/97 3,062,046 3,062,046
Prudential Life, 5.70%, due 5/29/98 1,152,406 1,152,406
Protective Life, 6.29%, due 8/27/97 2,436,300 2,436,300
Protective Life, 8.70%, due 5/16/96 1,309,339 1,309,339
___________ ___________
Forward 24,446,847 24,446,847
(Continued)
11
PacifiCorp K Plus
Employee Savings Plan
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1995
IDENTITY OF ISSUE, SHARES OR CURRENT
BORROWER, OR SIMILAR PARTY FACE VALUE COST VALUE
GUARANTEED INVESTMENT CONTRACTS (Continued):
Forward $ 24,446,847 $ 24,446,847
Principal Mutual, 7.04%, due 4/23/99 1,672,151 1,672,151
Lincoln National, 6.81%, due 1/30/98 1,813,007 1,813,007
Nationwide Insurance, 7.20%, due 5/29/97 957,083 957,083
Life of Virginia, 7.49%, due 6/28/99 2,216,322 2,216,322
New York Life, 5.73%, due 7/31/98 1,273,288 1,273,288
New York Life, 5.73%, due 4/30/98 1,273,288 1,273,288
Nationwide Insurance, 6.75%, due 10/22/97 1,224,996 1,224,996
Nationwide Insurance, 5.85%, due 9/30/97 796,330 796,330
New York Life, 7.55%, due 9/23/99 822,932 822,932
New York Life, 7.55%, due 9/23/99 822,932 822,932
New York Life, 5.80%, due 11/30/98 2,239,094 2,239,094
New York Life, 5.20%, due 8/31/98 1,669,726 1,669,726
Safeco Life, 6.60%, due 7/1/97 1,484,494 1,484,494
Sun Life Assurance, 8.83%, due 3/31/96 2,032,250 2,032,250
Sun Life Assurance, 6.78%, due 7/31/97 1,243,375 1,243,375
Allstate Life, 8.710%, due 6/17/96 1,502,369 1,502,369
Business Mens Co., 6.60%, due 2/25/98 1,050,251 1,050,251
Allstate Life, 7.00%, due 10/31/97 1,229,365 1,229,365
Business Mens Co., 6.28%, due 2/19/98 1,048,357 1,048,357
Business Mens Co., 5.75%, due 6/9/98 1,533,624 1,533,624
Business Mens Co., 6.00%, due 6/17/98 1,027,183 1,027,183
Business Mens Co., 5.70%, due 1/15/99 2,000,304 2,000,304
Confederation Life, 0.00%, due 8/31/99 1,059,731 1,059,731
Confederation Life, 0.00%, due 8/31/99 1,207,802 1,207,802
Hartford Life, 5.45%, due 10/27/98 3,351,954 3,351,954
Safeco Life, 7.26%, due 3/3/97 636,247 636,247
Lincoln National, 8.77%, due 3/29/96 955,674 955,674
___________ ___________
Total Guaranteed Investment Contracts 62,590,976 62,590,976
___________ ___________
PARTICIPANT LOANS:
Interest rates ranging from 7-11.5%,
maturities ranging from 1996 to 2019 20,911,145 20,911,145
___________ ___________
TEMPORARY CASH INVESTMENTS:
Bankers Trust Pyramid Directed
Account Cash Fund 16,524,124 16,524,124
___________ ___________
TOTAL INVESTMENTS $331,159,936 $349,251,540
=========== ===========
(Concluded)
12
PacifiCorp K Plus
Employee Savings Plan
Item 27d - Schedule of Reportable Transactions - Single
Year Ended December 31, 1995
Transactions reportable defined in Section 2520.103-6 of the Department of Labor's Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974, are as follows:
(H)
(F) CURRENT
EXPENSE VALUE OF
(A) (B) (C) (D) (E) INCURRED (G) ASSET ON (I)
IDENTITY OF DESCRIPTION PURCHASE SELLING LEASE WITH COST OF TRANSACTION NET GAIN/
PARTY INVOLVED OF ASSET PRICE PRICE RENTAL TRANSACTION ASSET DATE (LOSS)
Bankers Trust BT Pyramid Directed
Account Cash Fund $ - $43,892,568 $ - $ - $43,892,568 $43,892,568 $ -
Bankers Trust BT Pyramid Directed
Account Cash Fund 43,892,568 - - - 43,892,568 43,892,568 -
Bankers Trust Dodge & Cox
Balanced Fund 43,892,568 - - - 43,892,568 43,892,568 -
Bankers Trust Columbia Common
Stock Fund Inc. 60,769,876 - - - 60,769,876 60,769,876 -
Bankers Trust Columbia Common
Stock Fund Inc. 22,896,031 - - - 22,896,031 22,896,031 -
13
PacifiCorp K Plus
Employee Savings Plan
Item 27d - Schedule of Reportable Transactions - Series
Year Ended December 31, 1995
Transactions reportable defined in Section 2520.103-6 of the Department of Labor's Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974, are as follows:
(H)
(F) CURRENT
EXPENSE VALUE OF
(A) (B) (C) (D) (E) INCURRED (G) ASSET ON (I)
IDENTITY OF DESCRIPTION PURCHASE SELLING LEASE WITH COST OF TRANSACTION NET GAIN/
PARTY INVOLVED OF ASSET PRICE PRICE RENTAL TRANSACTION ASSET DATE (LOSS)
Bankers Trust BT Pyramid Directed
Account Cash Fund $147,628,594 $ - $ - $ - $147,628,594 $147,628,594 $ -
Bankers Trust BT Pyramid Directed
Account Cash Fund - 131,039,297 - - 131,039,297 131,039,297 -
Bankers Trust Dodge & Cox
Balanced Fund 53,046,941 - - - 53,046,941 53,046,941 -
Bankers Trust Dodge & Cox
Balanced Fund - 3,670,194 - - 3,534,578 3,670,194 135,616
Bankers Trust Columbia Common
Stock Fund Inc. 89,147,637 - - - 89,147,637 89,147,637 -
Bankers Trust Columbia Common
Stock Fund Inc. - 14,531,430 - - 13,802,184 14,531,430 729,246
Bankers Trust Putnam New Oppor-
tunities Fund 20,147,054 - - - 20,147,054 20,147,054 -
Bankers Trust Putnam New Oppor-
tunities Fund - 356,989 - - 336,516 356,989 20,473
14
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
________
the K Plus Employee Savings Administrative Committee, which administers the
Plan, has duly caused this annual report to be signed on its behalf by the
undersigned hereunder duly authorized.
PACIFICORP K PLUS EMPLOYEE SAVINGS PLAN
/s/ROBERT F. LANZ
Robert F. Lanz, Committee Member
June 24, 1996