SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE 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: 1-9210
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
Occidental Chemical Corporation Savings and Investment Plan
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
Occidental Petroleum Corporation
10889 Wilshire Boulevard
Los Angeles, California 90024
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Plan) have duly caused this annual
report to be signed on its behalf by the undersigned hereunto duly authorized.
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
By: /s/ A.L. Rueter
------------------------------------------
A.L. Rueter - Member of the Administrative
Committee of the Occidental Chemical
Corporation Savings and Investment Plan
Dated: June 28, 2001
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
December 31, 2000 and 1999
Index
-----
Page(s)
-------
Report of Independent Public Accountants 1 - 2
Financial Statements:
Statements of Net Assets Available for Plan Benefits
as of December 31, 2000 and 1999 3
Statement of Changes in Net Assets Available for Plan Benefits
for the Year Ended December 31, 2000 4
Notes to Financial Statements 5 - 11
Accompanying Appendix:
Appendix I: Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment
Purposes as of December 31, 2000 12 - 18
Note: Schedules other than that listed above have been omitted because they are
not applicable or are not required by 29 CFR 2520.103-10 of the Department
of Labor's Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974, as amended.
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Occidental Chemical Corporation Pension
and Retirement Plan Administrative Committee:
We have audited the accompanying statements of net assets available for plan
benefits of the OCCIDENTAL CHEMICAL CORPORATION SAVINGS AND INVESTMENT PLAN (the
"Plan") as of December 31, 2000 and 1999, and the related statement of changes
in net assets available for plan benefits for the year ended December 31, 2000.
These financial statements and the supplemental schedule referred to below are
the responsibility of the Plan administrator. Our responsibility is to express
an opinion on these financial statements and supplemental schedule based on our
audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States. 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 net assets available for plan benefits of the Plan as
of December 31, 2000 and 1999, and the changes in its net assets available for
plan benefits for the year ended December 31, 2000, in conformity with
accounting principles generally accepted in the United States.
Our audit was made for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedule of assets held for
investment purposes, is presented for purposes of additional analysis and is not
a required part of the basic financial statements but is 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 supplemental schedule has been subjected to the auditing procedures
applied in the audit of the basic financial statements and, in our opinion, is
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
/s/ ARTHUR ANDERSEN LLP
ARTHUR ANDERSEN LLP
Los Angeles, California
June 22, 2001
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
Statements of Net Assets Available for Plan Benefits
As of December 31, 2000 and 1999
2000 1999
------------ ------------
Assets
------
Investments:
At fair value $ 27,154,582 $ 24,656,994
At contract value 2,407,610 2,287,508
------------ ------------
Total investments 29,562,192 26,944,502
Receivables:
Interest and dividends 123,984 88,540
Due from broker for securities sold 247,274 --
------------ ------------
Total receivables 371,258 88,540
Total assets 29,933,450 27,033,042
Liabilities
-----------
Accounts Payable 264,866 --
------------ ------------
Total liabilities 264,866 --
------------ ------------
Net Assets Available for Plan Benefits $ 29,668,584 $ 27,033,042
============ ============
The accompanying notes are an integral part of these financial statements.
3
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2000
Additions:
Additions to net assets attributable to:
Investment income:
Interest $ 114,463
Dividends 493,419
Net appreciation in fair value of investments 755,826
-----------
Total investment income 1,363,708
-----------
Contributions:
Participant 2,321,269
Employer 933,242
-----------
Total contributions 3,254,511
-----------
Total additions 4,618,219
-----------
Deductions:
Deductions from net assets attributed to:
Benefits paid to participants 1,982,677
-----------
Total deductions 1,982,677
-----------
Net Increase 2,635,542
Net Assets Available for Plan Benefits,
Beginning of year 27,033,042
-----------
End of year $29,668,584
===========
The accompanying notes are an integral part of this financial statement.
4
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
Notes to Financial Statements
December 31, 2000 and 1999
1. Description of the Plan
The following description of the Occidental Chemical Corporation Savings and
Investment Plan (the "Plan") provides only general information. Participants
should refer to the Plan document for a more complete description of the Plan's
provisions.
a. General
The Plan is a defined contribution plan established for eligible employees
of Occidental Chemical Corporation ("OxyChem", "the Company", or the
"Employer"), a wholly-owned subsidiary of Occidental Petroleum Corporation
("OPC" or "Oxy"), a Delaware corporation. It is subject to the provisions
of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"). Generally, employees of OxyChem are eligible to participate in
the Plan if they (i) are subject to a collective bargaining agreement and
(ii) work at an OxyChem location that has negotiated the right to
participate in the Plan in a recognized collective bargaining agreement.
b. Plan Administration
The Plan is administered by the OPC Pension and Retirement Trust and
Investment Committee as to investment decisions and by the OxyChem Pension
and Retirement Plan Administrative Committee as to all matters except
investment decisions (collectively, the "Committees"). The Committees have
been given all powers necessary to carry out their respective duties,
including as applicable, but not limited to, the power to administer and
interpret the Plan and to answer all questions affecting eligibility of
participants. The Northern Trust Company (the "Trustee") is trustee and
custodian of a trust fund which holds all the assets of the Plan. The
Company pays certain costs and expenses incurred in administering the Plan.
Such costs and expenses were not significant for the year ended December
31, 2000.
c. Contributions
Participant Contributions - Participants may contribute from 1 to 12
percent of eligible compensation to the Plan on a before- or after-tax
basis or in any combination thereof, subject to certain Internal Revenue
Code ("IRC") limitations.
Employer Contributions - OxyChem contributes 50 or 75 percent, as
negotiated, of the first 6 percent of eligible compensation, as defined in
the Plan document, that a participant contributes to the Plan. All Employer
contributions are invested in the Occidental Petroleum Corporation Common
Stock Fund (the "Oxy Stock Fund").
5
d. Participant Accounts
Participants accounts are credited with the participant's contribution and
allocations of the Employer's contribution and investment income, and
charged with an allocation of administrative expenses and investment
losses, if any. Allocations are based on account balances, as defined. The
benefit to which a participant is entitled is the benefit that can be
provided from the participant's vested account.
e. Vesting
Participants immediately vest in their contributions plus actual investment
income, if any. Vesting in the Employer's contribution portion of the
account plus actual earnings thereon is based on years of service.
Generally, a participant receives 20 percent vesting for each year of
service until full vesting is achieved after 5 years of service.
f. Forfeitures
Forfeited nonvested accounts are used to reduce Employer contributions.
During 2000, Employer contributions were reduced by $4,518 from forfeited
nonvested accounts. Unallocated forfeitures at December 31, 2000 and 1999,
were not significant to the financial statements.
g. Distributions
Generally, upon termination of service for any reason other than death, a
participant with an account balance greater than $5,000 may elect to
receive the vested portion of their account in the following distribution
options: (i) one lump sum payment, (ii) straight life annuity, (iii)
ten-year term certain annuity, (iv) joint and survivor annuity, (v) partial
cash distributions or (vi) deferral of payment with certain restrictions.
Upon the death of a participant, a spousal beneficiary may elect to receive
the vested interests in the form of (i), (ii), (iii) or (vi). A non-spousal
beneficiary may elect to receive the vested interest in the form of (i),
(ii) or (iii). If there are multiple beneficiaries the only form of payment
available is a lump sum. A participant whose vested account balance is
$5,000 or less may receive distributions only under options (i), (v) or
(vi). Participant may elect to receive distributions from their account
balance in the Oxy Stock Fund in cash or in shares of OPC common stock.
h. Participant Loans
Participants may borrow from their accounts a minimum of $1,000 up to a
maximum equal to the lesser of: (i) $50,000, reduced by the highest
outstanding loan balance in the past twelve months, (ii) 50 percent of
their vested account balance, or (iii) a loan amount which would require
payroll deductions for repayment equal to 15 percent of the participant's
base compensation. Loan transactions are treated as a transfer between the
investment fund and the participant loan fund. Loan terms range from 1 to 5
years.
6
During 1999, the interest rate charged on new loans ranged from 5 to 7
percent. During 2000 the interest rate charged on new loans was 5 percent.
Loan repayments are made ratably through payroll deductions. The loans bear
interest at a fixed rate equal to the Western Federal Credit Union's loan
rate for a loan secured by a member's deposit account at the time the loan
is approved.
i. Investment Options
The Plan currently offers 7 investment options. Upon enrollment in the
Plan, participants may direct their employee contributions, in 10 percent
increments, in any of the investment options. Participants may change their
investment options on a monthly basis. Participants should refer to the
Plan document for a complete description of the investment options and for
the detailed composition of each investment fund.
2. Summary of Significant Accounting Policies
a. Basis of Accounting
The financial statements of the Plan are prepared under the accrual method
of accounting.
b. Use of Estimates
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States requires management to
make estimates and assumptions that affect the reported amounts of assets,
liabilities, and changes therein, and disclosure of contingent assets and
liabilities. Actual results could differ from those estimates.
c. Risk and Uncertainties
The Plan provides for various investment options in mutual funds, actively
managed funds and the Oxy Stock Fund. Investment securities are exposed to
various risks such as interest rate, market and credit. Due to the level of
uncertainty related to changes in the value of investment securities, it is
at least reasonably possible that changes in the various risk factors, in
the near term, could materially affect participants' account balances and
the amounts reported in the financial statements.
Additionally, many mutual funds invest in the securities of foreign
companies, which involves special risks and considerations not typically
associated with investing in U.S. companies. These risks include
devaluation of currencies, less reliable information about issuers,
different securities transaction clearance and settlement practices, and
possible adverse political and economic developments. Moreover, securities
of many foreign companies and their markets may be less liquid and their
prices more volatile than similar types of securities of comparable U.S.
companies.
Derivative financial instruments are used by the Plan's equity and fixed
income investment managers to remain fully invested in the asset class and
to hedge currency risk. Leveraging of the Plan assets and speculation are
prohibited.
7
d. Investment Valuation and Income Recognition
The Plan's investments are stated at fair value except for the investments
in guaranteed investment contracts which are valued at contract value.
Shares of registered investment companies are valued at quoted market
prices, which represent the net asset value of shares held by the Plan at
year end. The unit price of common or commingled trust funds is based on
the current market value of the underlying assets of the fund. The OPC
common stock is valued at its quoted market price. Participant loans are
valued at cost, which 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.
Realized gains and losses on investments are based on the market value of
the asset at the beginning of the year, or at the time of purchase for
assets purchased during the year, and the related fair value on the day the
investments are sold during the year. Unrealized gains and losses on
investments are based on the market value of the assets at the beginning of
the year, or at the time of purchase for assets purchased during the year,
and the related fair values on December 31, 2000. Net realized and
unrealized appreciation/(depreciation) of investments is reflected in the
accompanying statement of changes in net assets available for plan benefits
as "net appreciation in fair value of investments."
e. Payment of Plan Benefits
Benefits are recorded when paid.
3. Investments
The following table presents investments that represent 5 percent or more of the
Plan's net assets:
December 31,
2000 1999
------------ ------------
Common Stock:
Oxy Stock Fund $ 8,982,379* $ 7,002,833*
Mutual Funds:
Stock Equity Fund 4,027,773 3,690,175
Balanced Fund 1,613,434 1,101,406
Common/Collective Trust:
Stable Value Fund 2,409,481 2,287,508
S&P 500 Index Fund 10,235,937 10,890,802
* Participant and non-participant directed
8
During 2000, the Plan's investments (including investments bought, sold and held
during the year) appreciated in value by $755,826 as follows:
Common Stock $ 1,260,553
Mutual Funds 367,848
Common/Collective Trust (872,575)
-----------
$ 755,826
===========
4. Oxy Stock Fund
Information about the net assets and the significant components of the changes
in net assets relating to the Oxy Stock Fund which includes both participant and
non-participant directed investments is as follows:
December 31,
2000 1999
------------ ------------
Net Assets:
Oxy Stock Fund $ 9,077,002 $ 7,081,349
============ ============
Year Ended
December 31, 2000
-----------------
Changes in Net Assets:
Contribution $ 1,114,101
Dividends 351,174
Interest 23,946
Net appreciation in fair value 1,260,553
Transfers between funds (94,622)
Benefits paid to participants (659,499)
-----------------
$ 1,995,653
=================
5. Stable Value Contracts
The Plan's investments in guaranteed investment contracts are included in the
statements of net assets available for plan benefits at contract value (which
represents contributions made under the contract plus earnings, less withdrawals
and administrative expenses) because they are fully benefit responsive. For
example, participants may ordinarily direct the withdrawal or transfer of all or
a portion of their investment at contract value. The fair value of the
guaranteed investment contracts at December 31, 2000 and 1999 approximates
contract value. During 2000 and 1999, the average yield earned on amounts
invested in these contracts was 6.34 and 6.30 percent, respectively. As of
December 31, 2000 and 1999, the average crediting interest rate on such
contracts was 6.22 and 6.33 percent, respectively.
9
6. Reconciliation of the Financial Statement to the Form 5500
The following is a reconciliation of net assets available for plan benefits per
the financial statements to the Form 5500:
December 31,
2000 1999
------------ ------------
Net assets available for plan benefits per the financial
statements $ 29,668,584 $ 27,033,042
Amounts allocated to withdrawing participants (232,690) (149,645)
------------ ------------
Net assets available for plan benefits per the Form 5500 $ 29,435,894 $ 26,883,397
============ ============
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500:
Year Ended
December 31, 2000
-----------------
Participant withdrawals and distributions per
the financial statements $ 1,982,677
Add: Amounts allocated to withdrawing
participants at December 31, 2000 232,690
Less: Amounts allocated to withdrawing
participants at December 31, 1999 (149,645)
-----------------
Benefits paid to participants per the Form 5500 $ 2,065,722
=================
Amounts allocated to withdrawing participants are recorded on the Form 5500 for
benefit payments that have been processed and approved for payment prior to
December 31 but not yet paid as of that date.
7. Related Party Transactions
The Trustee and OPC are parties-in-interest as defined by ERISA. The Trustee
invests certain Plan assets in its collective short-term investment fund and the
Oxy Stock Fund. Such transactions qualify as party-in-interest transactions
permitted by Department of Labor's regulations.
8. Plan Termination
Although it has not expressed any intent to do so, OxyChem has the right under
the Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA. In the event of Plan termination,
participants will become 100 percent vested in their accounts.
10
9. Tax Status
The Internal Revenue Service has determined and informed OxyChem by a letter
dated May 20, 1996, that the Plan is designed in accordance with applicable
sections of the IRC. The Plan has been amended since receiving the determination
letter. However, the Committees, using their judgment and the advice of their
advisors, believes that the Plan, in all material respects, is designed and
currently operating in a manner that qualifies it for continued tax-exempt
status.
10. Subsequent Event
Effective May 1, 2001, the Pottstown, Pennsylvania union was allowed to
participate in the Occidental Petroleum Corporation Savings Plan.
11
Appendix I
OCCIDENTAL CHEMICAL CORPORATION
SAVINGS AND INVESTMENT PLAN
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
COMMON STOCK:
OXY STOCK FUND
Cash Equivalents:
* Northern Trust Company Collective Short Term Investment Fund,
1.80 percent $ 309,566
Common Stock:
* Occidental Petroleum Common Stock, 361,030 shares,
Corporation par $.20 $ 7,666,954 8,672,813
------------ ------------
Total Oxy Stock Fund $ 7,666,954 $ 8,982,379
============ ============
MUTUAL FUNDS:
BALANCED FUND
Common Stock:
Dodge & Cox Balanced Fund, 25,439 shares $ 1,613,434
------------
Total Balanced Fund $ 1,613,434
============
AGGRESSIVE EQUITY FUND
Common Stock:
Investment Counselors UAM FDS Inc ICM Small Co Portfolio,
of Maryland 39,659 shares $ 912,449
------------
Total Aggressive Equity Fund $ 912,449
============
12
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
MONEY MARKET FUND
Cash Equivalents:
* Northern Trust Company Collective Short Term Investment Fund,
1.80 percent $ 671,035
------------
Total Money Market Fund $ 671,035
============
STOCK EQUITY FUND
Cash Equivalents:
* Northern Trust Company Collective Short Term Investment Fund,
1.80 percent $ 145,032
Common Stock:
Abbott Lab Common Stock, 250 shares 12,109
Adaptec Inc Common Stock, 500 shares 5,125
Aetna Inc Common Stock, 300 shares 12,319
Alcan Alum Ltd Common Stock, 600 shares 20,513
Allstate Corp Common Stock, 800 shares 34,850
American Electric Power
Co Inc Common Stock, 970 shares 45,105
Amer Gen. Corp Common Stock, 400 shares 32,600
Amer Home Prod Corp Common Stock, 100 shares 6,355
Amer Greetings Corp Common Stock, 250 shares 2,359
Amer Intl Group Inc Common Stock, 421 shares 41,495
Amerada Hess Corp Common Stock, 300 shares 21,919
Ameren Corp Common Stock, 600 shares 27,788
Amern Std Co. In. Common Stock, 400 shares 19,725
Amr Corp Common Stock, 700 shares 27,431
Amsouth Bancorp Common Stock, 1,500 shares 22,875
Andrew Corp Common Stock, 400 shares 8,700
AOL Time Warner Inc Common Stock, 400 shares 15,664
Applied Materials Inc Common Stock, 250 shares 9,547
Archer-Daniels-Midland Co Common Stock, 2,023 shares 30,345
Arrow Electr Inc Common Stock, 700 shares 20,038
Ashland Inc Common Stock, 500 shares 17,945
AT&T Corp Common Stock, 600 shares 10,388
Avnet Inc Common Stock, 400 shares 8,600
Bank One Corp Common Stock, 950 shares 34,794
Bellsouth Corp Common Stock, 100 shares 4,094
13
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
Bemis Co Inc Common Stock, 250 shares 8,391
Bergen Brunswig Corp Common Stock, 1,200 shares 18,996
BK Amer Corp Common Stock, 913 shares 41,884
Black & Decker Corp Common Stock, 400 shares 15,700
Boise Cascade Corp Common Stock, 250 shares 8,406
Briggs & Stratton Corp Common Stock, 200 shares 8,875
Bristol Myers Squibb Co Common Stock, 400 shares 29,575
Bstn. Scientific Corp Common Stock, 1,400 shares 19,163
Burl Northn Santa Fe Corp Common Stock, 900 shares 25,481
Cabot Corp Common Stock, 500 shares 13,188
CDN Pac Ltd Common Stock, 500 shares 14,281
Centex Corp Common Stock, 500 shares 18,781
Charter 1 Financial Inc Common Stock, 840 shares 24,255
Chevron Corp Common Stock, 400 shares 33,775
Chubb Corp Common Stock, 400 shares 34,600
Cigna Corp Common Stock, 300 shares 39,690
Cinergy Corp Common Stock, 750 shares 26,344
Cisco Sys Inc Common Stock, 1,550 shares 59,288
Citigroup Inc Common Stock, 1,100 shares 56,169
Coca Cola Co Common Stock, 400 shares 24,375
Compaq Computer Corp Common Stock, 500 shares 7,525
Conagra Inc Common Stock, 1,200 shares 31,200
Conoco Inc Common Stock, 858 shares 24,828
Conoco Inc Common Stock, 800 shares 22,900
Cons Edison Inc Common Stock, 600 shares 23,100
Cooper Ind Inc Common Stock, 400 shares 18,375
Cooper Tire & Rubber Co Common Stock, 900 shares 9,563
Countrywide Cr Ind Inc Common Stock, 300 shares 15,075
Crown Cork & Seal Co, Inc Common Stock, 600 shares 4,463
CSX Corp Common Stock, 900 shares 23,344
Cummins Engine Co Inc Common Stock, 300 shares 11,381
Dana Corp Common Stock, 700 shares 10,719
Delphi Automotive Sys Corp Common Stock, 1,300 shares 14,625
Dilliards Inc Common Stock, 750 shares 8,859
Dow Chemical Co Common Stock, 750 shares 27,469
Du Pont E I De Nemours & Co Common Stock, 809 shares 39,085
Eastman Chem Co Common Stock, 250 shares 12,188
Eaton Corp Common Stock, 200 shares 15,038
Edison Intl Common Stock, 1,100 shares 17,188
Eli Lilly & Co Common Stock, 100 shares 9,306
EMC Corp Mass Common Stock, 300 shares 19,950
Exxon Mobil Corp Common Stock, 814 shares 70,767
Fedt Dept Stores Inc Common Stock, 500 shares 17,500
14
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
First UN Corp Common Stock, 1,100 shares 30,594
Firstenergy Corp Common Stock, 900 shares 28,406
FleetBoston Fin Corp Common Stock, 836 shares 31,402
FMC Corp Common Stock, 250 shares 17,922
FNMA Common Stock, 700 shares 60,725
Ford Motor Co Del Common Stock, 800 shares 18,750
Fortune Brands Inc Common Stock, 800 shares 24,000
GA Pac Corp Common Stock, 987 shares 30,720
General Electric Co Common Stock, 2,600 shares 124,638
Genuine Parts Co Common Stock, 800 shares 20,950
Golden West Financial Corp Common Stock, 450 shares 30,375
Goodrich BF & Co Common Stock, 500 shares 18,188
Goodyear Tire & Rubber Co Common Stock, 300 shares 6,897
GPU Inc Common Stock, 500 shares 18,406
Health Net Inc Common Stock, 600 shares 15,713
Healthsouth Corp Common Stock, 800 shares 13,050
Hewlett-Packard Co Common Stock, 1,000 shares 31,563
Hilton Hotels Corp Common Stock, 1,000 shares 10,500
Home Depot Inc Common Stock, 200 shares 9,138
Huntington Bancshares Inc Common Stock, 1,100 shares 17,806
Ingram Micro Inc Common Stock, 600 shares 6,750
Intel Corp Cap Common Stock, 1,800 shares 54,113
Intl Business Mach Corp Common Stock, 400 shares 34,000
Intl Paper Co Common Stock, 1,113 shares 45,424
Johnson & Johnson Common Stock, 650 shares 68,291
JP Morgan Chase & Co Common Stock, 150 shares 6,816
Kerr Mc Gee Corp Common Stock, 300 shares 20,081
Keycorp Common Stock, 1,000 shares 28,000
Leggett & Platt Inc Common Stock, 900 shares 17,044
Litton Ind Inc Common Stock, 300 shares 23,606
Lockheed Martin Corp Common Stock, 800 shares 27,160
Lyondell Chemical Co Common Stock, 600 shares 9,188
May Dept Stores Co Common Stock, 750 shares 24,563
Maytag Corp Common Stock, 300 shares 9,694
MBIA Inc Common Stock, 400 shares 29,650
Mead Corp Common Stock, 500 shares 15,688
Merck & Co Inc Common Stock, 500 shares 46,813
MGIC Invt Corp Common Stock, 500 shares 33,719
Microsoft Corp Common Stock, 1,200 shares 52,050
Millennium Chemicals Inc Common Stock, 650 shares 11,781
Morgan J P & Co Common Stock, 200 shares 33,100
Morgan Stanley Dean Witter
& Co Common Stock, 125 shares 9,906
Natl Cy Corp Common Stock, 1,000 shares 28,750
15
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
Natl Service Ind Inc Common Stock, 400 shares 10,275
Newell Rubbermaid Inc Common Stock, 1,100 shares 25,025
Norfolk So Corp Common Stock, 1,500 shares 19,969
Nortel Networks Corp Common Stock, 400 shares 12,825
Northrop Grumman Corp Common Stock, 200 shares 16,600
Nucor Corp Common Stock, 300 shares 11,906
* Occidental Petroleum Corp Common Stock, 1,000 shares 24,250
Office Depot Inc Common Stock, 1,300 shares 9,263
Oracle Corp Common Stock, 800 shares 23,250
Owens ILL Inc Common Stock, 700 shares 3,981
Paccar Inc Common Stock, 300 shares 14,775
Pacificare Health Sys Inc Common Stock, 300 shares 4,500
Pfizer Inc Common Stock, 1,250 shares 57,500
PG&E Corp Common Stock, 850 shares 17,000
Philip Morris Companies Inc Common Stock, 1,400 shares 61,600
Phillips Petro Co Common Stock, 450 shares 25,594
PNC Financial Service Group Common Stock, 100 shares 7,306
PPG Ind Inc Common Stock, 300 shares 13,894
Praxair Inc Common Stock, 625 shares 27,734
Procter & Gamble Co Common Stock, 100 shares 7,844
Qualcomm Inc Common Stock, 75 shares 6,164
Quantum Corp DSSG Common Stock, 900 shares 11,981
Regions Fncl Corp Common Stock, 1,000 shares 27,313
Reynolds R J Tob Hldgs Inc Common Stock, 166 shares 8,093
Royal Dutch Petro Common Stock, 450 shares 27,253
Russell Corp Common Stock, 300 shares 4,631
Ryder Sys Inc Common Stock, 500 shares 8,313
Safeco Corp Common Stock, 600 shares 19,725
SBC Communications Inc Common Stock, 547 shares 26,119
Schering-Plough Corp Common Stock, 100 shares 5,675
Sears Roebuck & Co Common Stock, 600 shares 20,850
Sherwin Williams Co Common Stock, 800 shares 21,050
Smurfit-Stone Container Corp Common Stock, 900 shares 13,444
Sonoco Prod. Co. Common Stock, 750 shares 16,219
St Paul Companies Inc Common Stock, 650 shares 35,303
Summit Bancorp Common Stock, 700 shares 26,731
Sun Microsystems Inc Common Stock, 400 shares 11,150
Sunoco Inc Common Stock, 400 shares 13,475
Super Valu Inc Common Stock, 800 shares 11,100
Tech Data Corp Common Stock, 400 shares 10,819
Temple Inland Inc Common Stock, 300 shares 16,088
Texaco Inc Common Stock, 500 shares 31,063
Thomas & Betts Corp Common Stock, 500 shares 8,094
16
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
TJX Cos Inc Common Stock, 1,100 shares 30,525
Torchmark Corp Common Stock, 600 shares 23,063
TX Instrs Inc Common Stock, 150 shares 7,106
TXU Corp Common Stock, 700 shares 31,019
Tyco Intl Ltd Common Stock, 150 shares 8,325
Tyson Foods Inc Common Stock, 1,000 shares 12,750
UN Carbide Corp Common Stock, 400 shares 21,525
UN PAC Corp Common Stock, 500 shares 25,375
UN Planters Common Stock, 400 shares 14,300
V F Corp Common Stock, 500 shares 18,120
Verizon Communications Common Stock, 272 shares 13,634
Viacom Common Stock, 150 shares 7,013
Visteon Corp Common Stock, 478 shares 5,497
Wa Mut Inc Common Stock, 850 shares 45,103
Wal-Mart Stores Inc Common Stock, 1,000 shares 53,125
Westvaco Corp Common Stock, 700 shares 20,431
Whirlpool Corp Common Stock, 300 shares 14,306
WIS Energy Common Stock, 700 shares 15,794
Worldcom Inc Common Stock, 2,100 shares 29,531
Xcel Energy Inc Common Stock, 775 shares 46,177
------------
Total Common Stock 3,882,741
------------
Total Stock Equity Fund $ 4,027,773
============
COMMON/COLLECTIVE TRUSTS:
STABLE VALUE FUND
Guaranteed Investment Contracts:
Morley Capital Management,
Inc Institutional Investor's Stable Asset Fund,
106,935 shares $ 2,409,481
------------
Total Fixed Income Fund $ 2,409,481
============
17
Schedule H - Part IV - Line 4i - Schedule of Assets Held for Investment Purposes
As of December 31, 2000
EIN No. 16-0484732 Plan No. 064
(a) (b) (c) (d) (e)
Identity of issuer, Description of investment including
Related borrower, lessor, maturity date, rate of interest, Current
Party or similar party collateral, par, or maturity value Cost Value
-------- -------------------------- ---------------------------------------------- ------------ ------------
S&P 500 INDEX FUND
Cash Equivalents:
* Northern Trust Company Collective Short Term Investment Fund,
1.80 percent $ 268
Common Stock:
BZW Barclays Global
Investors Equity Index Fund, 30,628 shares 10,235,669
------------
Total S&P 500 Index Fund $ 10,235,937
============
LOAN FUND
Participants Loans:
* Participant Loans Loans to participants; interest rates
range from 5 to 7 percent $ 709,704
------------
Total Loan Fund $ 709,704
============
Total Assets held for Investment Purposes $ 29,562,192
============
* Represents a party-in-interest as defined by ERISA
18
EXHIBIT INDEX
Exhibit
No. Exhibit Page Number
--------------------------------------------------------------------------------
23 Consent of Independent Public Accountants 20
19