NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
The following description of the Nordson Hourly-Rated
Employees Savings Trust Plan (Plan) provides only general information. Participants should refer to the Plan document for a complete description of the Plan's provisions.
General:
The
Plan, which began April 16, 1962, is a defined contribution plan covering certain hourly employees of Nordson Corporation (Company) covered by a collective bargaining agreement. It is subject to the provisions of the Employee Retirement
Income Security Act of 1974 (ERISA).
The Plan was restated effective January 1, 2016 to incorporate all prior amendments and
state the terms of the related trust in a separate agreement.
The Plan was amended December 1, 2017 to add Roth contributions and Roth
conversion contributions.
Eligibility:
Certain hourly-rated, full-time, domestic employees of the Company, who are covered by a collective bargaining agreement, are eligible to
participate in the Plan beginning with the first payroll period 180 days after completion of one hour of service.
Contributions:
Participants may elect between 1% and 30% of their compensation to be contributed to the Plan by the Company. Effective December
1, 2017, participant contributions can be designated as a Roth contribution, a pre-tax contribution or a combination of the two types of participant contributions. Certain higher-paid participants may be limited to a lesser percentage. New employees
will be auto-enrolled into the Plan with pre-tax contributions of 3% of their compensation.
Participant pre-tax contributions are
automatically increased by 1% each year until a contribution rate of 6% is reached. The automatic enrollment provision does not apply to Roth 401(k) contributions. Participants can opt out of the automatic increase program.
Post-tax Employee Contribution - Participants may elect between 1% and 5% of their compensation to be contributed to the Plan by the Company.
Certain higher-paid participants may be limited to a lesser percentage.
- 4 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
1
|
Description of Plan, Continued
|
Contributions, Continued:
Total pre-tax, Roth and post-tax employee contributions may not exceed 30%.
Employer Contributions - The Company makes contributions equal to 50% of each participants contributions, which were attributable to the
first 6% of compensation, subject to Plan restrictions. In addition, the Company makes an annual contribution in an amount equal to 1% of annual pensionable earnings into the account of each participant hired on or after November 1, 2004, provided
that the employee is employed as of December 31.
The Company may also make additional discretionary contributions, if authorized by its
Board of Directors.
Rollover contributions from other plans are also accepted, provided certain specified conditions are met.
Contributions are subject to limitations on annual additions and other limitations imposed by the Internal Revenue Code, as defined in the Plan
agreement.
Participants Accounts:
A separate account in each fund is maintained for each participant. The account balances for participants are adjusted periodically as follows:
|
a)
|
As of the date with respect to which the contribution was earned.
|
|
b)
|
Daily for a pro rata share of each respective funds net investment income, determined by the percentage increase or decrease in the value of the fund using a synthetic net asset value approach.
|
|
c)
|
Annually for a pro rata share of forfeitures, determined by the ratio that each active participants deferral or contribution percentage in effect on the last day of the Plan year (not to exceed 3%) bears to the
sum of the deferral or contribution percentages for all active participants.
|
Vesting:
Participants are fully vested in all employee contributions and rollover contributions and the related gains and losses. Participants vest in
employer contributions (adjusted for gains and losses) 33 1/3% for each year of service.
- 5 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
1
|
Description of Plan, Continued
|
Forfeitures:
Forfeitures due to termination from the Plan before a participant is 100% vested shall be allocated to remaining participants. Forfeitures are
available for allocation after the earlier of a five-year period commencing from the date on which the participants employment was terminated or upon the participant requesting a distribution. Forfeitures available to be allocated are fully
allocated to the remaining participants. Forfeitures allocated were $924 (2017) and $1,985 (2016). Forfeitures available to be allocated were $5 (2017) and $923 (2016).
Notes Receivable from Participants:
Notes receivable are permitted under certain circumstances and are subject to limitations. Participants may borrow from their fund accounts up
to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Notes receivable are repaid over a period not to exceed five years.
The notes are secured by the balance in the participants account and bear interest at rates established by the Company. Principal and
interest are paid ratably through payroll deductions.
Payment of Benefits:
Upon retirement after age 55 or death or disability, if earlier, the balance in the separate account is paid to the participant or his
beneficiaries either in a lump sum or installments. A participant who has attained age 59 1/2 can also elect to withdraw amounts from his separate account. Until distribution, each account shall participate in the allocation of earnings and
appreciation or depreciation of assets.
If the employment of a participant is terminated for any cause other than death or total
disability prior to the attainment of the age of 55 years, any distribution will be based on the number of years the participant participated in the Plan. The portion of the account to be distributed will be equal to all the employees
contributions and related earnings, plus 33 1/3% of the remainder of the balance (the employers matching contribution, forfeitures and related earnings) in the separate account for each full year of participation in the Plan up to 100%.
Benefit payments to participants are recorded upon distribution.
Investment Options:
Each participant may direct that all of his contributions and, when the participant is fully vested or attains age 55, all matching employer
contributions, be invested in 1% increments in any of the investment funds offered by the Plan. For participants not fully vested and less than 55 years old, all Company matching contributions are deposited in the Nordson Match Stock Fund. A
participant who has completed at least three years of service may elect to have his separate account, which is attributable to employer matching contributions and invested in the Nordson Match Stock Fund, transferred to any other investment option.
- 6 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
2
|
Summary of Significant Accounting Policies
|
Basis of Accounting:
The Plans transactions are reported on the accrual basis of accounting.
Investment Valuation:
Investments are reported at fair value. Investments in equity and debt securities traded on a national exchange and mutual funds are valued at
the market price on the last business day of the Plan year. Securities traded in the over-the-counter market are valued at the mean between the last reported bid and ask prices. Deposits under group annuity contracts are valued at the fair value, as
reported by the insurance companies. Guaranteed investment contracts are valued at contract value which represents contributions and reinvested income, less any withdrawals plus accrued interest. Contract value approximates fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded
on the ex-dividend date.
Interest is calculated and paid using money market interest rates on late transfers of money between the various
funds. This is done to record the proper investment earnings within each fund.
Notes Receivable from Participants:
Notes receivable from participants are valued at unpaid principal balance plus any accrued, but unpaid interest. Interest income on notes
receivable from participants is recorded when it is earned. No allowance for credit losses has been recorded as of December 31, 2017 or 2016. Delinquent participant loans are deemed distributions based on the terms of the Plan document.
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 disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual
results could differ from those estimates.
- 7 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
2
|
Summary of Significant Accounting Policies, Continued
|
Plan Termination:
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and
terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
Risks and Uncertainties:
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit
risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term, and that such changes could materially affect
participants account balances and the amounts reported in the Statements of Net Assets Available for Benefits.
Reclassifications:
Certain prior year amounts have been reclassified to conform with the current years presentation.
On December 29, 2016, the Internal Revenue Service stated that the Plan, as
then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan Administrator and the Plans tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore, the Plan's Administrator and tax counsel believe that the Plan was qualified and the related trust was tax-exempt as of the financial statement date.
Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan
and recognize a tax liability if the Plan has taken uncertain tax positions that more-likely-than-not would not be sustained upon examination by applicable taxing authorities. The Plan Administrator has analyzed tax positions taken by the Plan and
has concluded that, as of December 31, 2017, there are no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by
taxing jurisdictions. However, currently no audits for any tax periods are in progress.
- 8 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
4
|
Fair Value Measurements
|
Accounting guidance defines fair value as the price that would
be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be reported at fair
value, the Plan considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of
nonperformance.
The guidance also establishes a fair value hierarchy that requires the Plan to maximize the use of observable inputs and
minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are described as follows:
|
*
|
Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
|
*
|
Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or
liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
|
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset
or liability.
|
*
|
Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
The asset or liabilitys fair value measurement level within the fair value hierarchy is based on the lowest level of input that is
significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.
The following is a description of the valuation methodologies used to measure fair value of assets held in the Plan. There have been no changes
in the methodologies used at December 31, 2017 and 2016.
Mutual Funds
: The mutual funds are public investment vehicles valued using
the net asset value (NAV) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund. The NAV is a quoted price in an active market, thus the mutual funds are classified within
Level 1 of the hierarchy.
- 9 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
4
|
Fair Value Measurements, Continued
|
Money Market Fund
: The money market fund is a public investment vehicle that is valued
with a NAV of $1. This NAV is a quoted price in an active market, thus this investment is classified within Level 1 of the hierarchy.
Common/Collective Funds
: Common/collective funds are public investment vehicles valued using the NAV provided by the administrator of
the fund. The NAV is based on the value of the assets owned by the funds, less liabilities. Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the common/collective funds, the investment
advisor reserves the right to temporarily delay withdrawal from the funds in order to ensure that securities liquidations will be carried out in an orderly business manner. These investments are not quoted on an active market.
Nordson Corporation Common Stock
: The stock is valued at the closing price reported on the NASDAQ stock exchange and is classified
within Level 1 of the hierarchy.
Investment Contracts
: These are investments in group annuity contracts with Hartford Life, which
guarantee a fixed interest rate each year. The assets are valued at the fair value, as reported by Hartford Life. This value is calculated monthly and is the sum of amounts invested, less withdrawals, plus interest computed at the guaranteed
interest rate. These contracts do not hold any specific assets. These investments are classified within Level 3 of the hierarchy.
Investments measured at fair value on a recurring basis consisted of the following types of instruments as of December 31, 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements Using Input Type:
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Money Market Fund
|
|
$
|
980,770
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
980,770
|
|
Mutual Funds
|
|
|
8,824,373
|
|
|
|
|
|
|
|
|
|
|
|
8,824,373
|
|
Investment Contracts
|
|
|
|
|
|
|
|
|
|
|
4,650,089
|
|
|
|
4,650,089
|
|
Nordson Corporation Common Stock
|
|
|
6,998,652
|
|
|
|
|
|
|
|
|
|
|
|
6,998,652
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments in the Fair Value Hierarchy
|
|
$
|
16,803,795
|
|
|
$
|
|
|
|
$
|
4,650,089
|
|
|
|
21,453,884
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments measured at Net Asset Value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common/Collective Funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,769,562
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments at Fair Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
23,223,446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 10 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
4
|
Fair Value Measurements, Continued
|
Investments measured at fair value on a recurring basis consisted of the following types of
instruments as of December 31, 2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements Using Input Type:
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Money Market Fund
|
|
$
|
1,142,875
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
1,142,875
|
|
Mutual Funds
|
|
|
7,033,482
|
|
|
|
|
|
|
|
|
|
|
|
7,033,482
|
|
Investment Contracts
|
|
|
|
|
|
|
|
|
|
|
4,513,658
|
|
|
|
4,513,658
|
|
Nordson Corporation Common Stock
|
|
|
5,945,051
|
|
|
|
|
|
|
|
|
|
|
|
5,945,051
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments in the Fair Value Hierarchy
|
|
$
|
14,121,408
|
|
|
$
|
|
|
|
$
|
4,513,658
|
|
|
|
18,635,066
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments measured at Net Asset Value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common/Collective Funds
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,829,221
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments at Fair Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
21,464,287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The table below sets forth the changes in fair value of the Plans Level 3 assets for the years ended
December 31, 2017 and 2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Contracts
|
|
|
|
|
|
2017
|
|
|
2016
|
|
Balance - Beginning of the Year
|
|
$
|
4,513,658
|
|
|
$
|
4,427,832
|
|
Investment income
|
|
|
135,389
|
|
|
|
132,168
|
|
Purchases
|
|
|
6,762
|
|
|
|
249
|
|
Sales
|
|
|
(5,720
|
)
|
|
|
(46,591
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance - End of the Year
|
|
$
|
4,650,089
|
|
|
$
|
4,513,658
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table represents the Plans Level 3 financial instruments, the valuation techniques used to
measure the fair value of those financial instruments, and the significant unobservable inputs and the ranges of value for those inputs:
|
|
|
|
|
|
|
|
|
|
|
Instrument
|
|
Fair Value
|
|
Principal Valuation
Technique
|
|
Unobservable
Inputs
|
|
Range of Significant
Input Values
|
|
Weighted
Average
|
Investment
contracts
|
|
$4,650,089
(2017);
$4,513,658
(2016)
|
|
Amounts
invested, less
withdrawals,
plus interest at guaranteed rate
|
|
Guaranteed
interest rate
|
|
3.0% for 2017
and 2016
|
|
N/A
|
- 11 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
5
|
Non-Participant-Directed Investments
|
Information about the net assets and the
significant components of changes in net assets related to non-participant-directed investments, which are included within the Nordson Corporation Stock Fund and Wells Fargo Advantage Government Money Market Fund, is as follows:
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
Nordson Match Stock Fund
|
|
|
|
|
|
|
|
|
Net Assets:
|
|
|
|
|
|
|
|
|
Nordson Corporation Common Stock
|
|
$
|
1,098,106
|
|
|
$
|
952,894
|
|
Wells Fargo Advantage Government Money Market Fund
|
|
|
35,607
|
|
|
|
31,024
|
|
Dividend receivable
|
|
|
2,250
|
|
|
|
2,503
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,135,963
|
|
|
$
|
986,421
|
|
|
|
|
|
|
|
|
|
|
Changes in Net Assets:
|
|
|
|
|
|
|
|
|
Contributions
|
|
$
|
40,545
|
|
|
$
|
39,766
|
|
Interest and dividend income
|
|
|
8,472
|
|
|
|
11,104
|
|
Net unrealized/realized appreciation
|
|
|
275,145
|
|
|
|
407,367
|
|
Distributions to participants
|
|
|
(160,892
|
)
|
|
|
(56,640
|
)
|
Net transfers to participant-directed funds
|
|
|
(13,728
|
)
|
|
|
(5,352
|
)
|
|
|
|
|
|
|
|
|
|
|
|
$
|
149,542
|
|
|
$
|
396,245
|
|
|
|
|
|
|
|
|
|
|
6
|
Party-in-Interest Transactions
|
Certain legal, accounting and administrative expenses
are paid by the Company. The Plan also invests in the common stock of the Company. John Hancock Retirement Plan Services (John Hancock) provides certain administrative services to the Plan pursuant to a service agreement between the
Company and John Hancock. John Hancock receives revenue from certain mutual fund companies or other investment providers pursuant to service agreements that John Hancock maintains in connection with services provided to the Plan. The revenue is used
to offset certain amounts owed to John Hancock for its administrative services to the Plan. If the revenue received by John Hancock exceeds the required amount under the Plans service agreement, the excess is remitted to the Plan as a service
fee credit, which is used to pay administrative expenses of the Plan. To the extent that the service fee credits exceed the Plans administrative expense, the excess will be allocated on an annual basis to participants with account balances as
of March 31 of the following year.
- 12 -
NOTES TO FINANCIAL STATEMENTS
Nordson Hourly-Rated Employees Savings Trust Plan
An employee who has participated under the Nordson Corporation Union
Employees Stock Ownership Plan for 10 or more years and has attained age 55 may elect, within the 90-day election period following the close of each Plan year during his qualified period, to transfer up to 25% of the aggregate balance of his
separate account from the Nordson Corporation Union Employees Stock Ownership Plan to the Nordson Hourly-Rated Employees Savings Trust Plan. For the last Plan year in his qualified period, he may elect to transfer up to 50% of the aggregate
balance of his separate account. The qualified period is the six Plan year period beginning with the Plan year following the Plan year in which the participant attains age 55 or completes 10 years as a participant, whichever is later.
8
|
Prohibited Transactions
|
During the Plan year ended December 31, 2016, employee
withholdings in the amount of $2,163 were not remitted by the Company to the Plan within the required timeframe, as defined by ERISA. This transaction constitutes a prohibited transaction. The Company has remitted the contributions to the Plan and
followed the appropriate correction guidelines.
Management evaluates events occurring through the date the financial
statements are available to be issued in determining the accounting for and disclosure of transactions and events that affect the financial
statements.
- 13 -
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AT END OF YEAR
Form 5500, Schedule H, Part IV, Line 4i
Nordson Hourly-Rated Employees Savings Trust Plan
EIN 34-0590250
Plan Number 015
December 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
(b) Identity of Issuer,
Borrower, Lessor or Similar Party
|
|
(c) Description of Investment Including
Maturity Date, Rate of Interest,
Collateral, Par or Maturity Value
|
|
(d) Cost**
|
|
|
(e) Current
Value
|
|
|
|
Baron Small Cap Fund (Institutional Class)
|
|
|
29,785
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
$
|
874,185
|
|
|
|
Hartford Life #30237401
|
|
|
3.00%
|
|
|
Group Annuity Contract #30237401
|
|
|
N/A
|
|
|
|
4,489,033
|
|
|
|
Hartford Life #30237402
|
|
|
3.00%
|
|
|
Group Annuity Contract #30237402
|
|
|
N/A
|
|
|
|
161,056
|
|
|
|
KeyBank NA Managed Guaranteed Investment Contract Fund
|
|
|
19,594
|
|
|
Shares, Guaranteed Investment Contract
|
|
|
N/A
|
|
|
|
521,974
|
|
|
|
Loomis Sayles Core Plus Bond Fund (Class Y)
|
|
|
69,310
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
903,797
|
|
|
|
Mainstay Balanced Fund (Class I)
|
|
|
28,057
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
918,592
|
|
|
|
Mainstay Large Cap Growth (Class I)
|
|
|
195,840
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
1,901,603
|
|
|
|
Mainstay S&P 500 Index Fund (Class I)
|
|
|
44,740
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
2,175,242
|
|
|
|
MFS Institutional International Equity Fund
|
|
|
6,609
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
168,262
|
|
|
|
MFS International New Discovery Fund (Class R4)
|
|
|
35,182
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
1,219,753
|
|
*
|
|
Nordson Corporation Common Stock
|
|
|
7,501
|
|
|
Shares, Common Stock
|
|
$
|
564,334
|
|
|
|
1,098,106
|
|
*
|
|
Nordson Corporation Common Stock
|
|
|
40,304
|
|
|
Shares, Common Stock
|
|
|
N/A
|
|
|
|
5,900,546
|
|
|
|
Northern Trust Focus 2015 Fund Tier N
|
|
|
1,244
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
205,860
|
|
|
|
Northern Trust Focus 2020 Fund Tier N
|
|
|
2,124
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
362,903
|
|
|
|
Northern Trust Focus 2025 Fund Tier N
|
|
|
768
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
136,495
|
|
|
|
Northern Trust Focus 2030 Fund Tier N
|
|
|
1,244
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
233,993
|
|
|
|
Northern Trust Focus 2035 Fund Tier N
|
|
|
121
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
24,125
|
|
|
|
Northern Trust Focus 2040 Fund Tier N
|
|
|
14
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
2,749
|
|
|
|
Northern Trust Focus 2045 Fund Tier N
|
|
|
9
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
1,794
|
|
|
|
Northern Trust Focus 2050 Fund Tier N
|
|
|
1,197
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
240,547
|
|
|
|
Northern Trust Focus 2055 Fund Tier N
|
|
|
195
|
|
|
Shares, Collective Fund
|
|
|
N/A
|
|
|
|
39,122
|
|
|
|
T. Rowe Price Institutional Large Cap Value Fund
|
|
|
2,810
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
65,711
|
|
|
|
Vanguard Mid Cap Index Fund (Institutional Class)
|
|
|
14,112
|
|
|
Shares, Mutual Fund
|
|
|
N/A
|
|
|
|
597,228
|
|
|
|
Wells Fargo Advantage Government Money Market Fund
|
|
|
35,607
|
|
|
Shares, Money Market Fund
|
|
$
|
35,607
|
|
|
|
35,607
|
|
|
|
Wells Fargo Advantage Government Money Market Fund
|
|
|
945,163
|
|
|
Shares, Money Market Fund
|
|
|
N/A
|
|
|
|
945,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,223,446
|
|
*
|
|
Participant loans
|
|
|
Participant loans (interest ranging from 3.25% to 7.50%)
|
|
|
N/A
|
|
|
|
547,868
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
23,771,314
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
Party-in-interest to the Plan.
|
**
|
Historical cost provided only for non-participant-directed investments.
|
- 14 -