Does this filing report Dominion Resources' 1995 revenues, earnings, or balance sheet?

No. The filing is Amendment No. 1 to the 1995 Form 10-K and only adds Form 11-K annual reports for employee savings plans. Company-level financial results must be found in the original 10-K.

How concentrated are employee savings plan assets in Dominion Resources stock?

Heavily. Dominion Resources common stock made up $268.6 million of the Employee Savings Plan's $387.1 million in total investments at year-end 1995, roughly 69%. Matching contributions are restricted to company stock and cannot be transferred to other funds, which adds to this concentration.

What drove the growth in the Employee Savings Plan's net assets in 1995?

Net assets increased by $60.4 million to $386.6 million. Unrealized appreciation of $47.1 million, largely from the rise in Dominion Resources stock value, was the main driver. Participant and company contributions of about $30.7 million and dividends of $19.2 million also contributed, while $40.5 million in distributions and $0.3 million in administrative expenses partly offset these gains.

Will plan participants' options or trustee change?

Yes. Effective June 1, 1996, Mellon Bank replaces NationsBank as trustee of the main plan, the number of investment options grows from 5 to 8, and combined employee contributions may range from 2% to 17% of pay. The Virginia Power Hourly plan will also expand from 2 to 8 options. The company match continues to be paid in Dominion Resources stock.

D 10-K FY1995 Annual Report — Revenue, Net Income, EPS

01—Abstract

Summary

Summary of the 10-K/A filed June 19, 1996. Cited figures are marked; the original filing is the authoritative source.

This filing is Amendment No. 1 to Dominion Resources, Inc.'s 1995 Form 10-K.

It adds exhibits (Form 11-K annual reports) for three employee savings plans rather than reporting the company's own operating or financial results. It contains no consolidated income statement, balance sheet, or segment data, so it offers little direct insight into company performance. The company is named Dominion Resources, Inc. in the filing, not Dominion Energy.

The Dominion Resources, Inc. Employee Savings Plan held net assets available for benefits of $386.6 million^a at December 31, 1995, up from $326.2 million in 1994. The increase was driven mainly by a $60.4 million net increase in plan assets, including $47.1 million of unrealized appreciation. Dominion Resources common stock was the largest holding at $268.6 million, about 69% of total investments, so plan participants carried substantial single-stock concentration risk.

The plan had 6,356 participants at year-end 1995, down from 6,509 a year earlier. The two smaller plans are the Dominion Subsidiary Savings Plan, which began October 1, 1995 with $114.8 thousand^b in assets and 96 participants (its statements are unaudited), and the Virginia Power Hourly Employee Savings Plan, with $87.6 million in net assets and 3,297 participants. Mellon Bank replaces NationsBank as trustee of the main plan effective June 1, 1996, and the investment options expand as described in the subsequent-event notes.

02—Key points

Key Highlights

Filing type: an amendment to the 1995 Form 10-K that only adds Form 11-K employee plan reports as exhibits; it contains no company-level financial statements.
Dominion Resources, Inc. Employee Savings Plan net assets rose to $386.6 million at December 31, 1995, from $326.2 million, a 18.5% increase.
Dominion Resources common stock was $268.6 million of the plan's holdings, about 69% of total investments, indicating heavy concentration in the parent's shares.
Plan participation fell to 6,356 from 6,509, while the Virginia Power Hourly Employee Savings Plan had 3,297 participants and $87.6 million in net assets.
Dominion Subsidiary Savings Plan launched October 1, 1995 with $114.8 thousand in assets and 96 participants; its 1995 financial statements are unaudited.
Mellon Bank becomes trustee of the main plan effective June 1, 1996, and investment options expand from 5 to 8 in that plan.
Participating companies' matching contributions (50% of employee contributions, capped at 3% of eligible earnings) are invested only in Dominion Resources stock.

03—Questions

Frequently Asked Questions

Does this filing report Dominion Resources' 1995 revenues, earnings, or balance sheet?
No. The filing is Amendment No. 1 to the 1995 Form 10-K and only adds Form 11-K annual reports for employee savings plans. Company-level financial results must be found in the original 10-K.
How concentrated are employee savings plan assets in Dominion Resources stock?
Heavily. Dominion Resources common stock made up $268.6 million of the Employee Savings Plan's $387.1 million in total investments at year-end 1995, roughly 69%. Matching contributions are restricted to company stock and cannot be transferred to other funds, which adds to this concentration.
What drove the growth in the Employee Savings Plan's net assets in 1995?
Net assets increased by $60.4 million to $386.6 million. Unrealized appreciation of $47.1 million, largely from the rise in Dominion Resources stock value, was the main driver. Participant and company contributions of about $30.7 million and dividends of $19.2 million also contributed, while $40.5 million in distributions and $0.3 million in administrative expenses partly offset these gains.
Will plan participants' options or trustee change?
Yes. Effective June 1, 1996, Mellon Bank replaces NationsBank as trustee of the main plan, the number of investment options grows from 5 to 8, and combined employee contributions may range from 2% to 17% of pay. The Virginia Power Hourly plan will also expand from 2 to 8 options. The company match continues to be paid in Dominion Resources stock.

04—Continue

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