SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the fiscal year ended December 31, 1994
A. Full title of the Plan:
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the
Plan and the address of its principal executive office:
CINergy Corp.
139 East Fourth Street
Cincinnati, Ohio 45202 - 4003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Members of the Deferred Compensation and Investment Plan Committee have duly
caused this annual report to be signed by the undersigned hereunto duly
authorized.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
(Name of Plan)
By /s/GEORGE H. STINSON
George H. Stinson, Chairman
Deferred Compensation and Investment Plan Committee
June 16, 1994
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF FINANCIAL CONDITION WITH FUND INFORMATION
DECEMBER 31, 1994
Participant Directed
CINergy Fidelity Fidelity Fidelity
Common Magellan Equity-Income Intermediate
Total Stock Fund Fund* Fund Bond Fund
INVESTMENTS, at market
Common Stock of CINergy Corp. -
(Notes 3 and 8)
shares: 3,493,066 $82,087,051 $54,846,378 $ - $ - $ -
Fidelity Magellan Fund* -
shares:98,298 6,566,321 - 6,566,321 - -
Fidelity Equity-Income Fund -
shares: 542,150 16,644,016 - - 16,644,016 -
Fidelity Intermediate Bond Fund -
shares: 301,353 2,962,298 - - - 2,962,298
PNC Money Market Fund - 1,820,544 - - - -
110,080,230 54,846,378 6,566,321 16,644,016 2,962,298
OTHER ASSETS
Cash 190,366 127,545 - - -
Contribution Receivable 277,077 115,404 47,204 41,637 9,454
Accrued Income 863 578 - - -
Loans Receivable from Participants 2,865,296 - - - -
PARTICIPANTS' EQUITY $113,413,832 $55,089,905 $6,613,525 $16,685,653 $2,971,752
<FN>
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital appreciation by investing primarily in
common stock and securities convertible into common stock. As of March 31, 1995, the Fund had over
$39 billion in net assets, consisting of the following classes: common stock and preferred stock, 96.8%;
convertible preferred stocks and bonds, .2%; corporate bonds, .6%; other securities, 2.4%.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF FINANCIAL CONDITION WITH FUND INFORMATION
DECEMBER 31, 1994
(continued)
Non-Participant
Participant Directed Directed
PNC Money CINergy
Market Loan Common
Fund Fund Stock Fund
INVESTMENTS, at market
Common Stock of CINergy Corp. -
(Notes 3 and 8)
shares: 3,493,066 $ - $ - $27,240,673
Fidelity Magellan Fund* -
shares:98,298 - - -
Fidelity Equity-Income Fund -
shares: 542,150 - - -
Fidelity Intermediate Bond Fund -
shares: 301,353 - - -
PNC Money Market Fund - 1,820,544 - -
1,820,544 - 27,240,673
OTHER ASSETS
Cash - - 62,821
Contribution Receivable 6,537 - 56,841
Accrued Income - - 285
Loans Receivable from Participants - 2,865,296 -
PARTICIPANTS' EQUITY $1,827,081 $2,865,296 $27,360,620
<FN>
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital appreciation by investing primarily in
common stock and securities convertible into common stock. As of March 31, 1995, the Fund had over
$39 billion in net assets, consisting of the following classes: common stock and preferred stock, 96.8%;
convertible preferred stocks and bonds, .2%; corporate bonds, .6%; other securities, 2.4%.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF FINANCIAL CONDITION WITH FUND INFORMATION
DECEMBER 31, 1993
Participant Directed
Company Fidelity Fidelity
Stock Magellan Equity-Income
Total Fund Fund* Fund
INVESTMENTS, at market
Common Stock of The Cincinnati
Gas & Electric Company -
(Notes 3 and 8)
shares: 3,483,838 $95,805,545 $63,700,395 $ - $ -
Fidelity Magellan Fund* -
shares:66,091 4,682,567 - 4,682,567 -
Fidelity Equity-Income Fund -
shares: 536,379 18,151,070 - - 18,151,070
Fidelity Intermediate Bond Fund -
shares: 306,778 3,307,068 - - -
PNC Money Market Fund - 2,495,540 242,869 72,574 100,660
124,441,790 63,943,264 4,755,141 18,251,730
OTHER ASSETS
Cash 56,712 41,928 5,563 6,927
Contribution Receivable 263,354 108,414 30,141 43,443
Accrued Income 4,575 - - -
Loans Receivable from Participants 2,254,022 - - -
PARTICIPANTS' EQUITY $127,020,453 $64,093,606 $4,790,845 $18,302,100
<FN>
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital appreciation by investing primarily in
common stock and securities convertible into common stock. As of March 31, 1994, the Fund had over
$33 billion in net assets, consisting of the following classes: common stock, 89.1%;preferred stock, 0.5%;
corporate bonds, 2.1%; U.S. Government obligations, 5.2%; other securities, 0.7%;
repurchase agreements, 2.4%.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF FINANCIAL CONDITION WITH FUND INFORMATION
DECEMBER 31, 1993
(continued)
Non-Participant
Participant Directed Directed
Fidelity PNC Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
INVESTMENTS, at market
Common Stock of The Cincinnati
Gas & Electric Company -
(Notes 3 and 8)
shares: 3,483,838 $ - $ - $ - $32,105,150
Fidelity Magellan Fund* -
shares:66,091 - - - -
Fidelity Equity-Income Fund -
shares: 536,379 - - - -
Fidelity Intermediate Bond Fund -
shares: 306,778 3,307,068 - - -
PNC Money Market Fund - 23,867 1,911,107 - 144,463
3,330,935 1,911,107 - 32,249,613
OTHER ASSETS
Cash 2,294 - - -
Contribution Receivable 10,784 6,878 - 63,694
Accrued Income - 4,575 - -
Loans Receivable from Participants - - 2,254,022 -
PARTICIPANTS' EQUITY $3,344,013 $1,922,560 $2,254,022 $32,313,307
<FN>
The accompanying notes are an integral part of this statement.
* Fidelity Magellan Fund is a growth fund seeking long-term capital appreciation by investing primarily in
common stock and securities convertible into common stock. As of March 31, 1994, the Fund had over
$33 billion in net assets, consisting of the following classes: common stock, 89.1%;preferred stock, 0.5%;
corporate bonds, 2.1%; U.S. Government obligations, 5.2%; other securities, 0.7%;
repurchase agreements, 2.4%.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1994
Participant Directed
CINergy Fidelity Fidelity
Common Magellan Equity-Income
Total Stock Fund Fund* Fund
PARTICIPANTS' EQUITY
beginning of year $127,020,453 $64,093,606 $4,790,845 $18,302,100
CHANGES DURING PERIOD
Assets transferred between plans (Note 2) 778,540 584,175 8,888 55,625
Contributions (Note 5) 7,781,527 2,986,412 1,254,029 1,157,720
Dividend Income 6,623,404 3,190,828 10,975 517,750
Interest Income 455,695 69,055 14,024 74,453
Distributions to Participants (Note 7) (13,867,619) (8,191,697) (402,305) (1,674,587)
Net realized and unrealized appreciation/
(depreciation) in market value of investments (15,378,168) (7,716,255) (136,849) (417,214)
Investment Transfers (Note 3) - 268,314 1,013,337 (1,011,790)
Loans granted to Participants, net of repayments - (194,533) 60,581 (318,404)
Net change during period (13,606,621) (9,003,701) 1,822,680 (1,616,447)
PARTICIPANTS' EQUITY
end of year $113,413,832 $55,089,905 $6,613,525 $16,685,653
UNITS OF PARTICIPATION
December 31, 1994 (including units to be
distributed to Participants)
Number of units
Number of shares (Notes 3 and 8) 2,333,888 98,298 542,150
Value per unit, at market
Market price per share
(New York Stock Exchange - Composite) $23.50 $66.80 $30.70
NUMBER OF EMPLOYEES PARTICIPATING
December 31, 1994 1,513 548 838
<FN>
The accompanying notes are an integral part of this statement.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1994
(continued)
Non-Participant
Participant Directed Directed
Fidelity PNC Money CINergy
Intermediate Market Loan Common
Bond Fund Fund Fund Stock Fund
PARTICIPANTS' EQUITY
beginning of year $3,344,013 $1,922,560 $2,254,022 $32,313,307
CHANGES DURING PERIOD
Assets transferred between plans (Note 2) 13,664 (3,462) - 119,650
Contributions (Note 5) 276,985 197,035 - 1,909,346
Dividend Income 74,249 - - 2,829,602
Interest Income 141,069 95,857 - 61,237
Distributions to Participants (Note 7) (186,608) (382,617) - (3,029,805)
Net realized and unrealized appreciation/
(depreciation) in market value of investments (265,133) - - (6,842,717)
Investment Transfers (Note 3) (334,255) 64,394 - -
Loans granted to Participants, net of repayments (92,232) (66,686) 611,274 -
Net change during period (372,261) (95,479) 611,274 (4,952,687)
PARTICIPANTS' EQUITY
end of year $2,971,752 $1,827,081 $2,865,296 $27,360,620
UNITS OF PARTICIPATION
December 31, 1994 (including units to be
distributed to Participants)
Number of units 1,820,544 2,865,296
Number of shares (Notes 3 and 8) 301,353 1,159,178
Value per unit, at market $1.00 $1.00
Market price per share
(New York Stock Exchange - Composite) $9.83 $23.50
NUMBER OF EMPLOYEES PARTICIPATING
December 31, 1994 388 292 328 1,513
<FN>
The accompanying notes are an integral part of this statement.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1993
Participant Directed
Fidelity Fidelity
Company Magellan Equity-Income
Total Stock Fund Fund* Fund
PARTICIPANTS' EQUITY
beginning of year $104,932,588 $53,612,392 $1,750,920 $16,102,903
CHANGES DURING PERIOD
Assets transferred between plans (Note 2) 3,296,904 2,170,368 44,896 185,725
Contributions (Note 5) 6,913,365 2,820,672 697,717 1,221,653
Dividend Income 6,424,023 3,680,134 39,966 610,901
Interest Income 8,706 3,242 1,110 2,103
Distributions to Participants (6,621,463) (3,894,910) (18,950) (831,769)
Net realized and unrealized appreciation/
(depreciation) in market value of investments 12,066,330 5,656,431 526,542 2,657,418
Investment Transfers (Note 3) - 499,374 1,742,590 (1,437,875)
Loans granted to Participants, net of repayments - (454,097) 6,054 (208,959)
Net change during period 22,087,865 10,481,214 3,039,925 2,199,197
PARTICIPANTS' EQUITY
end of year $127,020,453 $64,093,606 $4,790,845 $18,302,100
UNITS OF PARTICIPATION
December 31, 1993 (including units to be
distributed to Participants)
Number of units
Number of shares (Notes 3 and 8) 2,316,378 66,091 536,379
Value per unit, at market
Market price per share
(New York Stock Exchange - Composite) $27.50 $70.85 $33.84
NUMBER OF EMPLOYEES PARTICIPATING
December 31, 1993 1,453 432 869
<FN>
The accompanying notes are an integral part of this statement.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
STATEMENT OF CHANGES IN PARTICIPANTS' EQUITY WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1993
(continued)
Non-Participant
Participant Directed Directed
Fidelity Money Company
Intermediate Market Loan Stock
Bond Fund Fund Fund Fund
PARTICIPANTS' EQUITY
beginning of year $3,095,050 $2,468,005 $1,516,281 $26,387,037
CHANGES DURING PERIOD
Assets transferred between plans (Note 2) 10,572 49,819 - 835,524
Contributions (Note 5) 303,704 189,592 - 1,680,027
Dividend Income 204,671 64,863 - 1,823,488
Interest Income 503 - - 1,748
Distributions to Participants (225,670) (142,813) - (1,507,351)
Net realized and unrealized appreciation/
(depreciation) in market value of investments 133,105 - - 3,092,834
Investment Transfers (Note 3) (134,036) (670,053) - -
Loans granted to Participants, net of repayments (43,886) (36,853) 737,741 -
Net change during period 248,963 (545,445) 737,741 5,926,270
PARTICIPANTS' EQUITY
end of year $3,344,013 $1,922,560 $2,254,022 $32,313,307
UNITS OF PARTICIPATION
December 31, 1993 (including units to be
distributed to Participants)
Number of units 2,495,540 2,254,022
Number of shares (Notes 3 and 8) 306,778 1,167,460
Value per unit, at market $1.00 $1.00
Market price per share
(New York Stock Exchange - Composite) $10.78 $27.50
NUMBER OF EMPLOYEES PARTICIPATING
December 31, 1993 414 301 280 1,453
<FN>
The accompanying notes are an integral part of this statement.
THE CINCINNATI GAS & ELECTRIC COMPANY
DEFERRED COMPENSATION AND INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1994 and 1993
(1) Description of The Cincinnati Gas & Electric Company Deferred Compensation
and Investment Plan (DCIP or the Plan) - The following is a brief description
of the Plan. Reference is made to the Plan and the related Trust Agreement,
including the defined terms, for complete information.
All Executive, Supervisory, Administrative, and Professional Employees of The
Cincinnati Gas & Electric Company (CG&E), The Union Light, Heat and Power
Company (ULH&P), and Lawrenceburg Gas Company (LG) are eligible to participate
in the Plan upon completion of one year of service. Under the Plan,
participants may defer, pursuant to Section 401(k) of the Internal Revenue Code
(Code), up to 15% of base pay with a maximum of $9,240 for the year 1994. In
addition, a Participant may make optional contributions to the Plan which, when
combined with salary deferrals, may not exceed 15% of base pay. Salary
deferrals and optional contributions may be further limited for certain highly
compensated Employees by the requirements of Code Sections 401(k), 401(m), and
415. The salary deferrals and optional contributions are invested by the
Trustee, as directed by each Participant, in one or more investment funds,
including a CINergy Common Stock Fund. The Participant's Employer makes a
matching contribution of 55% (50% prior to July 1, 1994) of the amount, not
exceeding 5% of base pay, contributed by each Participant. All Employer
Matching Contributions must be invested by the Trustee in the CINergy Common
Stock Fund. Participants are immediately vested in their salary deferrals and
optional contributions. Participants are vested in the employer matching
contributions after five years of vesting service, or upon death or disability.
Participants are generally eligible to receive distributions of vested assets
from the Plan upon termination of employment (including retirement), death or
disability. Distributions are paid in a lump sum for vested benefits of $3,500
or less. Distributions are paid in a lump sum or five annual installments (at
the election of the participant) for vested benefits greater than $3,500.
Active participants are also eligible to apply to the Plan administrator for
"hardship" withdrawals from their salary-deferral and optional contribution
accounts in accordance with Plan provisions.
Subject to certain limitations, Employees may apply for loans from their
salary-deferral account balances. Such loans are reflected in the Loan Fund in
the accompanying financial statements. Loans bear interest at the prime rate
of the trustee plus 1/2%, and are repaid within five years through regular
payroll deductions.
The Plan is administered by the Deferred Compensation and Investment Plan
Committee and trusteed by PNC Bank, Ohio, N.A. Generally, administrative
expenses of the Plan are paid by the Employer and are not included in the
accompanying financial statements.
The Plan is generally subject to the provisions of the Employee Retirement
Income Security Act of 1974 (ERISA). In particular, the Plan is subject to the
reporting, disclosure, participation, vesting, fiduciary responsibility,
administration, and enforcement provisions of Title I and the termination and
liability provisions of Title IV of ERISA.
The funding provisions of Title I and the provisions relating to the Pension
Benefit Guaranty Corporation of Title IV are not applicable to this type of
defined contribution plan.
CG&E expects to continue the Plan indefinitely, but its Board of Directors
reserves the right to amend or terminate the Plan at any time. No amendment
shall reduce retroactively the rights of Participants or permit the return to
the Employer of any part of the Common Stock or other securities, obligations,
deposits or cash held by the Trustee, or permit their use or diversion for any
purpose other than the exclusive benefit of the Participants or their
Beneficiaries. Forfeitures of participants' non-vested account balances are
used to reduce CG&E's matching contributions in accordance with Plan
provisions.
(2) Significant Accounting Policies - Investments are stated at market value
as determined by the Trustee by reference to published market data at December
31, 1994 and 1993. The market value of the Plan's investments are subject to
price fluctuations in the applicable investment markets. Unrealized valuation
gains and losses are reflected in the Statement of Changes in Participants'
Equity. The statements are prepared on the accrual basis of accounting.
Transfers of assets between the CG&E Savings Incentive Plan (SIP) and DCIP
occur as a result of changes in Employee status between the Weekly and Hourly
Paid classification and the Executive, Supervisory, Administrative and
Professional classification.
(3) Investments - All contributions are paid to the Trustee under the Plan. A
participant may elect or change investment funds and/or the percentages in
which contributions will be allocated once each quarter.
All Employer Matching Contributions are invested in the CINergy Common Stock
Fund. Participant Contributions and Employer Matching Contributions are made
each pay period and immediately invested in the designated fund.
See Note (8) for the discussion of the conversion of CG&E common stock held
by the Plan to CINergy Corp. common stock pursuant to CG&E's merger with PSI
Resources, Inc.
(4) Federal Income Tax Status - The Plan obtained its most recent
determination letter in January 1995, in which the Internal Revenue Service
(IRS) stated that the Plan, as designed, was in compliance with the applicable
requirements of the Internal Revenue Code. The determination letter covers the
amendments made to the Plan for purposes of complying with the requirements of
the Tax Reform Act of 1986. Participating employees are not subject to tax on
Plan income or amounts contributed by the employer until such time as such
amounts are distributed to them.
(5) Contributions - Contributions made by Participants and amounts contributed
by each Employer during the years ended December 31, 1994 and 1993 are as
follows:
1994 1993
Participants' Employers' Participants' Employers'
Contributions Contributions Contributions Contributions
CG&E $384,244 $7,099,436 $332,084 $6,306,212
ULH&P and LG - 297,847 3,591 271,478
Total $384,244 $7,397,283 $335,675 $6,577,690
Participant contributions include optional contributions, while employer
contributions include salary deferrals and employer matching contributions.
(6) Participant Withdrawals - Distributions which had been requested by
Participants and approved but not yet paid as of December 31, 1994 and 1993 are
as follows:
1994 1993
CINergy Common Stock Fund $1,046,902 $231,679
Fidelity Magellan Fund 79,527 -
Fidelity Equity-Income Fund 274,437 -
Fidelity Intermediate Bond Fund 80,866 -
Money Market Fund 41,357 -
Cash 9,964 -
Total $1,533,053 $231,679
These amounts are classified in the accompanying Statements of Financial
Condition as of December 31, 1994 and 1993 as a component of Participants'
Equity.
(7) Voluntary Early Retirement Program - During 1994, CG&E & its subsidiaries
approved a Voluntary Early Retirement Program (the Program). Distributions to
Participants in the Statement of Changes in Participants' Equity for the year
ended December 31, 1994 includes approximately $10,809,000 in distributions to
Participants who elected to retire under the Program.
(8) Merger - On October 24, 1994, PSI Resources, Inc. (Resources) was merged
with CINergy Corp. (CINergy), and a subsidiary of CINergy was merged with CG&E.
Each outstanding share of CG&E common stock held by the Plan at October 24,
1994 was exchanged for one share of CINergy common stock.
Report of Independent Public Accountants
To The Deferred Compensation and Investment Plan Committee of
The Cincinnati Gas & Electric Company:
We have audited the accompanying statements of financial condition of THE
CINCINNATI GAS & ELECTRIC COMPANY DEFERRED COMPENSATION AND INVESTMENT PLAN
(the Plan) as of December 31, 1994 and 1993, and the related statements of
changes in participants' equity for the years then ended. These financial
statements are the responsibility of the Deferred Compensation and Investment
Plan 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 management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial condition of the Plan as of December
31, 1994 and 1993, and the changes in participants' equity 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
(Exhibits I and II) are presented for purposes of additional analysis and are
not a required part of the basic financial statements but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. The Fund Information in the statements of financial condition and the
statements of changes in participants' equity is presented for purposes of
additional analysis rather than to present the financial condition and changes
in participants' equity of each fund. The supplemental schedules and Fund
Information have been subjected to the auditing procedures applied in the
audits of the basic financial statements and, in our opinion, are fairly stated
in all material respects in relation to the basic financial statements taken as
a whole.
ARTHUR ANDERSEN LLP
Cincinnati, Ohio,
June 16, 1995
EXHIBIT I
The Cincinnti Gas & Electric Company
Deferred Compensation and Investment Plan
Sponsor EIN: 31-0240030
Administrator EIN: 31-1070386
Plan Number: 004
Part I, Schedule G (Form 5500, Item 27a)
Schedule of Assets Held for Investment Purposes at December 31, 1994
--------------------------------------------------------------------
(a) (b) (c) (d) (e)
Description of
investment
including maturity
date, rate of
Identity of issue, interest,
borrower, lessor, collateral, par or Current
or similar party maturity value Cost value
- --- ------------------ ------------------ ---- -------
* CINergy Common 3,493,066 shares; $61,279,613 $82,087,051
Stock Fund $0.01 par value;
$23.50 market
price per share
@ 12/31/94
Fidelity Magellan Mutual fund, 7,015,139 6,566,321
Fund primarily common
stock; 98,298
shares; $66.80 net
asset value
@ 12/31/94
Fidelity Mutual fund, 17,747,684 16,644,016
Equity-Income Fund primarily equity
securities; 542,150
shares; $30.70
net asset value
@ 12/31/94
Fidelity Mutual fund, 3,162,207 2,962,298
Intermediate primarily
Bond Fund fixed-income
obligations;
301,353 shares;
$9.83 net asset
value @ 12/31/94
** PNC Money Market Mutual fund, money 1,820,544 1,820,544
Fund market instruments;
1,820,544 units;
$1.00 net asset
value @ 12/31/94
Participant loans 7% - 9 1/2% 0 2,865,296
* The Cincinnati Gas & Electric Company, as employer having employees covered
by the plan, is a party-in-interest.
** PNC, as Trustee, is a party-in-interest.
Exhibit II
The Cincinnati Gas & Electric Company
Deferred Compensation and Investment Plan
Sponsor EIN: 31-0240030
Administrator EIN: 31-1070386
Plan Number: 004
Part V, Schedule G (Form 5500, Item 27d)
Schedule of Reportable Transactions
For the Year Ended December 31, 1994
------------------------------------
Total Total Total Dollar Total Dollar
Identity of Number of Number Value of Value of Net Loss
Securities Purchases of Sales Purchases Sales on Sales
- ----------- --------- -------- ------------ ------------ --------
CINergy Corp.
Common Stock
Fund 32 96 $13,346,380 $13,650,053 $2,992,028
Fidelity Equity
Income Fund 76 83 3,506,013 3,462,911 49,102
PNC Money Market
Fund 64 60 10,006,466 4,722,677 -
Exhibit 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation
by reference of our report dated June 16, 1995 included in this Annual Report
on Form 11-K for the year ended December 31, 1994 of The Cincinnati Gas &
Electric Company Deferred Compensation and Investment Plan, into its previously
filed Registration Statement No. 33-55291.
ARTHUR ANDERSEN LLP
Cincinnati, Ohio,
June 16, 1995