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ATMOS ENERGY CORP Annual Report (Amendment), Year Ended Sep 30, 1993

Filing Date
Filed June 30, 1994
Period End
September 30, 1993
Security
ATO
In the record · 2016–202610-K1010-Q338-K133

ATO filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 133 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Aug ’17Aug ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Material agreement8-K · Oct ’21Oct ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Abstract

Summary

Summary of the 10-K/A filed June 30, 1994. Cited figures are marked; the original filing is the authoritative source.

This filing is Atmos Energy Corporation's Form 10-K/A No. 1, filed June 30, 1994 under a Rule 201 temporary hardship exemption.

The cover page references the fiscal year ended September 30, 1993. The content provided, however, is the Form 11-K annual report for the company's Employee Stock Ownership Plan and Trust (the ESOP) for the year ended December 31, 1993. It contains no consolidated income statement, balance sheet, or segment or operating data for Atmos itself, so it offers limited insight into the company's core utility business.

Investors should look to the company's primary 10-K for those figures. Within the ESOP, plan equity rose 28.8% to $30.0 milliona at December 31, 1993, from $23.3 million a year earlier. The increase of $6.7 million came mainly from $3.25 million of unrealized appreciation on Atmos common stock, a $1.0 million one-time discretionary company contribution, and $1.36 million of participant and matching contributions.

The plan held 1,529,117 Atmos shares with a fair value of $28.2 millionb, about 94% of plan assets. Withdrawals fell to $1.34 million in 1993 from $2.53 million in 1992. The plan's independent auditor, Ernst & Young, issued an unqualified opinion.

For shareholders, the main takeaway is that employee ownership remains concentrated in Atmos stock, so the ESOP's value tracks the share price closely. The 1993 gains reflect share price appreciation rather than operating performance, and the disclosed concentration is a risk factor for plan participants.

02—Key points

Key Highlights

  1. ESOP plan equity increased 28.8% to $30.0 million at December 31, 1993, from $23.3 million in 1992.
  2. Atmos common stock comprised about $28.2 million (94%) of the plan's $30.0 million in total assets, at fair value.
  3. Unrealized appreciation on Atmos stock was $3.25 million in 1993, versus only $12,418 in 1992.
  4. The company made a one-time $1.0 million discretionary contribution to the plan in 1993, with a 4% maximum matching contribution (100% matched by the company).
  5. Participant withdrawals declined to $1.34 million in 1993 from $2.53 million in 1992, with 1,357 participants holding stock purchase program accounts.
  6. The filing contains no consolidated Atmos financial statements; it is an ESOP Form 11-K report attached as Exhibit 28 to the 10-K/A.
  7. Ernst & Young issued an unqualified opinion on the plan's financial statements, and the IRS confirmed in April 1994 that the plan qualifies under Section 401(a).

03—Questions

Frequently Asked Questions

  1. Does this filing show Atmos Energy's overall financial performance?

    No. Although the cover refers to a 10-K/A for the fiscal year ended September 30, 1993, the content provided is the Form 11-K for the employee stock ownership plan for the year ended December 31, 1993. It does not include consolidated revenues, net income, or balance sheet data for Atmos. Those figures would be in the company's primary annual report.

  2. How concentrated is the ESOP in Atmos stock?

    Very concentrated. Atmos common stock was $28.2 million of the plan's $30.0 million in total investments at year-end 1993, or about 94%. Since the plan's value moves largely with the share price, participants face significant company-specific risk.

  3. What drove the growth in plan equity during 1993?

    Most of the $6.7 million increase came from $3.25 million of unrealized appreciation on Atmos stock, a $1.0 million discretionary company contribution, and $1.36 million in company matching contributions. Participant salary reductions added $1.92 million, while dividends were fully distributed to participants and withdrawals reduced equity by $1.34 million.

  4. How much did the company contribute to employees' retirement accounts?

    In 1993 the company matched employee contributions at a maximum of 4% of compensation, with the match set at 100% of the employee's salary reduction. It also made a one-time $1.0 million discretionary contribution. Total company contributions were $2.44 million, including the match and the discretionary amount.

  5. Why was this amendment filed late?

    The document states that it is a copy of Form 10-K/A No. 1, previously filed on June 30, 1994 under a Rule 201 temporary hardship exemption. The filing does not give a further explanation for the hardship.

04—Continue

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