SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
X SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
----------
For the fiscal year ended December 31, 2000
OR
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
---------- SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from ------------ to ------------------
Commission file number 1-3950
FORD MICROELECTRONICS, INC.
SALARIED RETIREMENT SAVINGS PLAN
(Full title of the plan)
FORD MOTOR COMPANY
One American Road
Dearborn, Michigan 48126
(Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office)
-2-
Required Information
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Financial Statements
--------------------
Statement of Net Assets Available for Benefits, as of December 31, 2000
and 1999.
Statement of Changes in Net Assets Available for Benefits for the Year
Ended December 31, 2000.
Schedule I - Schedule of Assets Held for Investment Purposes as of
December 31, 2000.
Schedule II - Reportable Transactions for the Year Ended December 31,
2000.
Exhibit
-------
Designation Description Method of Filing
----------- ----------- ----------------
Exhibit 23 Consent of PricewaterhouseCoopers LLP Filed with this Report.
Signature
---------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustee has duly caused this Annual Report to be signed by the undersigned
thereunto duly authorized.
FORD MICROELECTRONICS, INC.
SALARIED RETIREMENT SAVINGS PLAN
By:
-----------------------------------
Chat Cowherd, agent for
UMB Bank, N.A., as trustee for the
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
June 20, 2001
-3-
EXHIBIT INDEX
Sequential
Page Number
Designation Description at Which Found
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Exhibit 23 Consent of PricewaterhouseCoopers LLP
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Report on Audit of Financial Statements and Supplemental Schedules
For the Years Ended December 31, 2000 and 1999
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Contents
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Pages
Report of Independent Accountants.............................................1
Financial Statements
Statement of Net Assets Available for Plan Benefits as
of December 31, 2000 and 1999................................................2
Statement of Changes in Net Assets Available for Plan Benefits with fund
information for the year ended
December 31, 2000..........................................................3-4
Notes to Financial Statements..............................................5-10
Supplemental Schedules
Schedule I - Schedule of Assets Held for Investment Purposes
as of December 31, 2000.....................................................11
Schedule II - Schedule of Reportable Transactions for the year ended
December 31, 2000...........................................................12
Report of Independent Accountants
To the Boards of Directors of
Ford Motor Company and
Ford Microelectronics, Inc.
In our opinion, the accompanying statements of net assets available for benefits
and the related statement of changes in net assets available for benefits with
fund information present fairly, in all material respects, the net assets
available for benefits of the Ford Microelectronics, Inc. Salaried Retirement
Savings Plan (the "Plan") at December 31, 2000 and 1999, and the changes in net
assets available for benefits for the year ended December 31, 2000 in conformity
with accounting principles generally accepted in the United States of America.
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 of these statements in accordance with
auditing standards generally accepted in the United States of America, which
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, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
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 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. The supplemental schedules 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.
June 4, 2001
1
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Statement of Net Assets Available for Plan Benefits
As of December 31, 2000 and 1999
(in thousands)
-------------------------------------------------------------------------------
2000 1999
Assets
Investments, at fair value $ 12,880 $ 35,472
Participant notes receivable 154 519
------- --------
Net assets available for benefits $ 13,034 $ 35,991
-------- --------
The accompanying notes are an integral part of the financial statements.
2
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2000
(in thousands)
-------------------------------------------------------------------------------
Participant-directed
---------------------------------------------------------------------------------------------------------
Ford Citigroup Visteon
Company Associates Incorporated Corporation Ultra Vista Equity International Strategic
Stock Stock Stock Stock Investors Investors Income Value Growth Moderate
Fund Fund Fund Fund Fund Fund Fund Fund Fund Fund
Net assets at fair
value January 1, 2000 $ 9,303 $1,819 $ - $ - $5,253 $2,857 $ 933 $1,834 $2,352 $ 165
Additions
Participant
contributions 21 - - - 102 67 14 24 48 2
Company contributions 22 - - - 75 63 14 23 40 2
Participant notes -
principal repayments 11 - - 3 43 13 4 11 10 5
Participant notes -
interest repayments 2 - - - 6 3 1 1 2 -
Dividend and interest
income 233 1 - 228 317 641 20 23 186 13
Net appreciation in
fair value of
investments - - 508 - - - 82 145 - -
Transfers in 8,085 813 587 313 3,518 7,055 344 256 1,594 482
------ ----- ----- ----- ----- ----- ----- ----- ----- -----
Total additions 8,374 814 1,095 544 4,061 7,842 479 483 1,880 504
Deductions
Distributions 2,530 650 198 205 3,066 2,813 490 952 1,027 333
Loans to participants - - - - 5 8 - 3 - -
Net depreciation in
value of investments 2,351 181 - 5 1,237 745 - - 574 22
Transfers out 11,236 1,802 169 215 3,377 5,833 585 605 1,558 259
------ ----- ----- ----- ----- ----- ----- ----- ----- -----
Total deductions 16,117 2,633 367 425 7,685 9,399 1,075 1,560 3,159 614
------ ----- ----- ----- ----- ----- ----- ----- ----- -----
Net assets at fair value $ 1,560 $ - $ 728 $ 119 $1,629 $1,300 $ 337 $ 757 $1,073 $ 55
The accompanying notes are an integral part of the financial statements.
3
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2000
(in thousands)
-------------------------------------------------------------------------------
Participant-directed
---------------------------------------------------------------------------------------------------------
Schwab U.S.
Strategic Premium Personal Prime Small Income &
Aggressive Bond Choice Money GNMA Company Growth Partiticipant
Fund Fund Fund Market Fund Fund Fund Notes Total
Net assets at fair value
January 1, 2000 $ 828 $ 404 $2,043 $ 3,228 $ 252 $ 171 $4,030 $ 519 $35,991
Additions
Participant
contributions 15 5 - 26 4 10 96 434
Company contributions 12 4 - 24 3 8 65 355
principal repayments 9 - - 22 3 2 32 (168) -
Participant notes -
interest repayments 1 - - 1 - - 3 (20) -
Dividend and interest
income 37 24 - 140 12 25 32 1,932
Net appreciation in
fair value of
investments - 11 - - 4 - - 750
Transfers in 610 700 1,432 9,376 9 857 2,537 38,568
----- ----- ------ ------- ---- ----- ------ ------ -------
Total additions 684 744 1,432 9,589 35 902 2,765 (188) 42,039
Deductions
Distributions 713 277 1,335 3,333 134 199 2,188 236 20,679
Loans to participants - - - 35 - 4 4 (59) -
Net depreciation in
value of investments 29 - - - - 141 492 5,777
Transfers out 524 703 1,422 7,553 98 451 2,150 38,540
----- ----- ------ ------- ---- ----- ------ ------ -------
Total deductions 1,266 980 2,757 10,921 232 795 4,834 177 64,996
----- ----- ------ ------- ---- ----- ------ ------ -------
Net assets at fair value $ 246 $168 $ 718 $ 1,896 $ 55 $ 278 $1,961 $ 154 $13,034
4
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
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1. Description of the Plan
On December 31, 2000, the Board of Directors of Ford Microelectronics,
Inc. and the Plan's administrator decided to cease allowing contributions
to the plan. All participants were considered vested at this date.
Participants had the option of rolling their plans into IRAs, another
401k or take a cash distribution.
The following description of the Ford Microelectronics, Inc. (the
"Company") Salaried Retirement Savings Plan (the "Plan") provides only
general information. Participants should refer to the Plan agreement for
a more comprehensive description of the Plan's provisions.
General
The Plan was a defined-contribution plan established to encourage and
facilitate systematic savings and investment by eligible salaried
employees and to provide them with an opportunity to become stockholders
of Ford Motor Company ("Ford"). It was subject to the provisions of the
Employee Retirement Income Security Act of 1974 ("ERISA").
Eligibility
With certain exceptions, regular full-time salaried employees were
eligible to participate in the contributory portion of the Plan at date
of hire. All full-time employees were eligible to participate in the
employer discretionary portion of the Plan. Participation in the Plan was
voluntary.
Contributions
Under the Plan and subject to limits imposed by the Internal Revenue
Code, participants could defer up to 15% in pre-tax contributions and 10%
in post-tax contributions. The Company match was at the rate of 100% of
the first 3% of the participants' base salaries contributed and at the
rate of $.60 for each dollar of the next 7% of participants' base
salaries contributed. The Company could also contribute an additional
amount determined at the discretion of the Company, in cash. For the
years ended December 31, 2000 and 1999, the Company made discretionary
contributions of 3% for each regular active employee with covered
compensation. These contributions were made bi-weekly in 2000 and 1999.
Participant accounts
Each participant's account was credited with the participant's
contribution and allocations of the Company's contributions and Plan
earnings. Administrative expenses were paid primarily by the Company.
Allocations were based on participant earnings or account balances, as
defined. The benefit to which a participant was entitled was the benefit
that could be provided from the participant's vested account.
Vesting
Participants were immediately vested in their contributions plus actual
earnings thereon. Vesting in the Company's matching and discretionary
contribution portion of their accounts plus actual earnings thereon is
based on years of continuous service. A participant was 100% vested after
five years of credited service. A participant becomes fully vested in
Company matching contributions automatically upon attainment of normal
retirement age, retirement due to disability, death, or partial plan
termination. Participants were entitled to receive the full amount of
vested funds when their employment is terminated. All participants were
considered fully vested on December 31, 2000, as described above.
5
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Investments options
Upon enrollment in the Plan, a participant could direct employee and
Company matching and discretionary contributions in any of the investment
options. As of December 31, 2000, participants had the following
investment options:
Ford Motor Company Stock Fund - A "sell-only" fund consisting primarily
of shares of Ford Motor Company common stock with a small portion of
short-term liquid investments for liquidity purposes. Future cash
dividends paid on the Ford stock held in the Ford Motor Company Stock
Fund will be invested in the participants' other investments based on the
current asset allocation.
Associates First Capital Corporation (the "Associates") Stock Fund - A
"sell-only" fund consisting primarily of shares of the Associates' common
stock with a small portion of short-term liquid investments for liquidity
purposes, and after December 31, 2000 will be closed. No contributions or
transfers by Plan participants may be made to this fund. Future cash
dividends paid on the Associates stock held in the Associates Stock Fund
will be credited to participants' accounts in the Ford Stock Fund and
invested in shares of Ford Common Stock.
Citigroup Incorporated Stock Fund - A "sell-only" fund consisting
primarily of shares of Citigroup common stock with a small portion of
short-term liquid investments for liquidity purposes. In December 2000,
Associates First Capital Corporation was bought by Citigroup,
Incorporated. As a result of that transaction, each share of Associates
common stock was exchanged for a 0.7334 shares of Citigroup common stock.
Any fractional shares remaining in the participants' accounts after the
exchange was paid for in cash.
Visteon Corporation Stock Fund - Invests primarily in shares of Visteon
Corporation common stock with a small portion of short-term liquid
investments for liquidity purposes.
Ultra Fund - Invests in stocks of companies with accelerating earnings
and revenue trends. The objective of the fund is to seek capital growth
over time.
Vista Fund - Invests in medium-sized and smaller companies, with an
emphasis on smaller firms. The objective of the fund is to seek capital
growth over time.
Equity Income Fund - Invests primarily in companies with favorable
dividend-paying history, dividend-paying ability and capital appreciation
potential. The objective of the fund is to seek current income with
capital appreciation as a secondary objective.
Value Fund - Invests primarily in stocks of well-established companies
that are believed to be undervalued at the time of purchase. The
objective of the fund is to seek capital growth over time.
International Growth Fund - Invests in a diversified international
portfolio with the majority of investments in developing markets. The
objective of the fund is to seek capital growth over time.
Strategic Conservative Fund - Invests in a diversified portfolio of
bonds, money market securities and stocks. The fund's investment
objective is to obtain as high a level of total return as is consistent
with the fund's asset mix.
6
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Investments options (continued)
Strategic Moderate Fund - Invests in equity securities, but maintains a
sizable stake in bonds and money market securities. The objective of the
fund is to seek high levels of total return (capital appreciation plus
income) as is consistent with its risk profile.
Strategic Aggressive Fund - Invests in a diversified portfolio of stocks,
bonds and money market securities and seeks a high level of total return.
The objective of the fund is to seek high levels of total return (capital
appreciation plus income) as is consistent with its risk profile.
Premium Bond Fund - Invests in longer-term bonds and other debt
instruments. The objective of the fund is to seek high levels of current
income.
Schwab Personal Choice Fund - Allows participants to invest in mutual
funds, listed and over-the-counter stocks, certificates of deposits,
money market funds and federally backed investments and bonds at the
participants discretion.
Prime Money Market Fund - Invests in high-quality U.S. dollar-denominated
money market instruments and other short-term obligations of banks,
governments and corporations. The objective of the fund is to seek the
highest level of current income consistent with preservation of capital.
GNMA Fund - Invests in mortgage-backed Ginnie Mae certificates. The
objective of the fund is to provide a high level of current income
consistent with safety of principal and investment liquidity.
U.S. Small Company Fund - Invests primarily in small and medium U.S.
companies that are ranked as the most undervalued. The objective of the
fund is to provide a high total return from a portfolio of small company
stocks.
Income & Growth Fund - Invests primarily in larger-sized companies and
targets stocks with a higher expected dividend yield and higher overall
return potential. The objective of the fund is to provide dividend
growth, current income and capital appreciation by investing in common
stocks.
Participant notes receivable
Participants could borrow from their fund accounts a minimum of $1,000
and to a maximum equal to the lesser of $50,000 or 50% of their account
balance. Loan transactions were treated as a transfer to/from the
investment fund from/to the Participant Notes fund. Loan terms range from
one to five years or up to ten years for the purchase of a primary
residence. The loans bear interest at a rate commensurate with local
prevailing rates. Interest rates range from 7.75 to 9.5%. Principal and
interest are paid ratably through bi-weekly payroll deductions.
Payment of benefits
On termination of service due to death, disability, retirement, or
partial plan termination, a participant could elect to receive all or
part of participant's vested interest in his or her account as a lump-sum
distribution.
7
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
-------------------------------------------------------------------------------
1. Description of the Plan (continued)
Forfeitures
The Plan permitted the Company to use the funds forfeited by participants
to pay Plan administration expenses, and, to the extent not used to pay
such expenses, to reduce future Company contributions. As of December 31,
2000 and 1999, $0 and $59,914, respectively, were forfeited by plan
participants and were available to pay future administrative expenses. To
the extent that forfeited funds are not available to pay Plan
administrative expenses, the Company pays such expenses.
Investment participation
The number of participants in each program at December 31, 2000 is as
follows:
Number of
Investment Fund participants
Ford Motor Company Stock Fund 101
Citigroup Incorporated Stock Fund 91
Visteon Corporation Stock Fund 127
Ultra Fund 86
Vista Fund 60
Equity Income Fund 45
Value Fund 54
International Growth Fund 60
Strategic Moderate Fund 17
Strategic Aggressive Fund 30
Premium Bond Fund 12
Schwab Personal Choice Fund 18
Prime Money Market Fund 91
GNMA Fund 16
U.S. Small Company Fund 15
Income & Growth Fund 85
2. Summary of Significant Accounting Policies
Basis of accounting
The financial statements of the Plan are prepared under the accrual
method of accounting.
Investment valuation and income recognition
All Plan investments were valued on the basis of established year-end
quoted market prices. Participant notes were carried at cost, which
approximates fair value. Purchases and sales of securities were recorded
on a trade-date basis. Gains and losses on sales of securities were based
on average cost. Dividend income was recorded on the ex-dividend date.
Interest income was recorded on the accrual basis. The Plan presents in
the statement of changes in net assets available for benefits the net
appreciation in the fair value of its investments which consist of the
realized gains and losses and the unrealized appreciation and
depreciation on those investments.
8
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
-------------------------------------------------------------------------------
2. Summary of Significant Accounting Policies (continued)
Payment of benefits Benefits were recorded when paid.
Contributions
Contributions from employees and the Company were recorded in the period
that payroll deductions are made from Plan participants.
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 amounts of revenues and expenses
during the reported period. Actual results could differ from those
estimates.
Risks and uncertainties
The Plan provides for various investment options in any combination of
either equity or fixed income investment securities. Investment
securities are exposed to various risks, such as interest rate, market
and credit. Due to the level of risk associated with certain investment
securities and the level of uncertainty related to changes in the value
of investment securities, it is at least reasonably possible that changes
in risks in the near term would materially affect participants' account
balances and the amounts reported in the statement of net assets
available for benefits and the statement of changes in net assets
available for benefits.
3. Asset Value Per Share
The number of shares and asset value per share at December 31, 2000 are
as follows:
Number of Asset value
Investment Fund shares per share
Ford Motor Company Stock Fund 66,555 $23.44
Citigroup Incorporated Stock Fund 14,257 51.06
Visteon Corporation Stock Fund 10,384 11.50
Ultra Fund 50,315 32.37
Vista Fund 84,832 15.33
Equity Income Fund 50,879 6.62
Value Fund 118,606 6.38
International Growth Fund 98,177 10.93
Strategic Moderate Fund 8,659 6.31
Strategic Aggressive Fund 33,999 7.25
Premium Bond Fund 16,885 9.97
Schwab Personal Choice Fund 717,605 1.00
Prime Money Market Fund 1,895,731 1.00
GNMA Fund 5,211 10.49
U.S. Small Company Fund 10,632 26.12
Income & Growth Fund 64,961 30.19
9
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Notes to Financial Statements
-------------------------------------------------------------------------------
4. Tax Status
The Internal Revenue Service has determined and informed the Company by a
letter dated September 13, 1995, that the Plan and related trust are
designed in accordance with applicable sections of the Internal Revenue
Code ("IRC"). Although the Plan has been subsequently amended, management
believes the Plan continues to be in accordance with the IRC.
5. Other
On August 7, 2000, Ford Motor Company announced the final results of its
recapitalization, known as the Value Enhancement Plan ("VEP"). Under the
VEP, Ford shareholders exchanged each of their old Ford Common or Class B
shares for one new Ford Common or Class B share, as the case may be,
plus, at their election, either $20 in cash, 0.748 additional new Ford
Common shares, or a combination of $5.17 in cash and 0.555 additional new
Ford Common shares. As a result of the elections made by shareholders
under the VEP, the total cash elected was $5.7 billion and the total
number of new Ford Common and Class B shares that became issued and
outstanding was 1.893 billion.
On June 28, 2000, Ford distributed 130 million shares of Visteon
Corporation ("Visteon"), which represented its 100% ownership interest,
by means of a tax-free spin-off in the form of a dividend on Ford Common
and Class B Stock.
Holders of Ford Common and Class B Stock on the record date received
0.130933 shares of Visteon common stock for each share of Ford stock, and
participants in U.S. employee savings plans on the record date received
$1.72 in cash per share of Ford stock, based on the volume-weighted
average price of Visteon stock of $13.1326 per share on June 28, 2000.
The total value of the distribution (including the $365 million cash
dividend) was $2.1 billion, or $1.72 per diluted share of Ford stock.
Participants in the Ford Stock Fund under the Plan on the record date
received Visteon shares in the distribution.
In addition, on June 26, 2000, Intel Corp. acquired most of the assets of
the Company, which is a wholly owned subsidiary of Visteon. Formerly a
subsidiary of Ford, Visteon absorbed all of the Company's production.
Under the terms of the agreement, Visteon kept the Company's name and the
rights to the product line. Therefore, this agreement was not considered
a complete acquisition.
6. Subsequent Event
On June 8, 2001, the Board of Directors of Ford Microelectronics, Inc.
and the Plan's administrator decided to terminate the plan effective
December 31, 2000. The Trustee of the Plan was directed to transfer the
balance of any accounts for which a timely distribution election has not
been filed with the Plan Administrator to Fidelity Management Trust
Company, as trustee of the Visteon Investment Plan, as soon as
practicable, after the Plan's termination.
10
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Schedule I - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
------------------------------------------------------------------------------
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment, including
borrower, lessor or maturity date, rate of interest, collateral, Current
similar party par of maturity value Cost value
* Ford Motor Company Ford Motor Company Common Stock,
66,555 shares $ 901,797 $ 1,560,049
Citigroup Incorporated Citigroup Stock Fund, 14,257 shares 344,356 727,962
* Visteon Corporation Visteon Corporation Common Stock,
10,384 shares 138,976 119,416
* American Century
Services Corporation Ultra Fund, 50,315 shares 1,768,055 1,628,697
Vista Fund, 84,832 shares 1,473,563 1,300,475
Equity Income Fund, 50,879 shares 322,996 336,819
Value Fund, 118,606 shares 772,565 756,706
International Growth Fund, 98,177 shares 1,050,788 1,073,075
Strategic Moderated Fund, 8,659 shares 56,247 54,638
Strategic Aggressive Fund, 33,999 shares 232,585 246,493
Premium Bond Fund, 16,885 shares 166,615 168,343
Schwab Personal Choice Fund, 717,605 shares 717,605 717,605
Prime Money Market Fund, 1,895,731 shares 1,895,731 1,895,731
GNMA Fund, 5,211 shares 54,573 54,663
U.S. Small Company Fund, 10,632 shares 322,616 277,708
Income & Growth Fund, 64,961 shares 1,789,936 1,961,173
* Participant notes 7.75% to 9.50% interest rate generally maturing
from 2-10 years - 153,968
----------- -----------
Total $12,009,004 $13,033,521
----------- -----------
*Party-in-interest to the Plan.
11
Ford Microelectronics, Inc.
Salaried Retirement Savings Plan
Schedule II - Schedule of Reportable Transactions
For the Year Ended December 31, 2000
-------------------------------------------------------------------------------
(a) (b) (c) (d) (e) (f)(1) (g) (h) (i)
Description of asset (including Current
interest rate and maturity Purchase Selling Lease Expense Cost value Net gain
Identity of party in case of a loan) price price rental incurred of asset of asset or (loss)
Reporting
Criterion I Single transaction in excess of 5%
of current value of plan assets.
None.
Reporting
Criterion II Series of transactions in other
than securities in excess of 5% of
current value of plan assets.
None.
Reporting
Criterion III Series of transactions in
in excess of 5% of current value
plan assets.
None.
Reporting
Criterion IV Single transactions with
nonregulated entity in excess of 5% of
current value of plan assets.
None.
(1) Information regarding expenses incurred with each transaction was not
available for the trustee.
12