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SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM
11-K
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(Mark
One)
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[X]
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ANNUAL
REPORT
PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For
the fiscal year ended December 31, 2006
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OR
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[ ]
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For
the transition period from __________ to __________.
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Commission
File No. 1-768
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SOLAR
TURBINES INCORPORATED
SAVINGS
AND INVESTMENT PLAN
(Full
title
of the Plan)
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CATERPILLAR
INC.
(Name
of
issuer of the securities held pursuant to the Plan)
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100
NE Adams Street, Peoria, Illinois 61629
(Address
of
principal executive offices)
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SIGNATURES
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Pursuant
to
the requirements of Section 13 or 15(d) of the Securities Exchange
Act of
1934, the Company has duly caused this annual report to be signed
on its
behalf by the undersigned, hereunto duly authorized.
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SOLAR
TURBINES INCORPORATED
SAVINGS
AND INVESTMENT PLAN
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CATERPILLAR
INC. (Issuer)
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June
22,
2007
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By:
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/s/ David B. Burritt |
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Name:
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David
B.
Burritt
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Title:
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Vice
President and Chief Financial
Officer
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Solar
Turbines Incorporated
Savings
and Investment Plan
Index
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Page(s)
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Report
of Independent Registered Public Accounting Firm
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5
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Financial
Statements
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Statements
of
Net Assets Available for Benefits December
31,
2006 and 2005
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6
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Statements
of
Changes in Net Assets Available for Benefits Years
Ended
December 31, 2006 and 2005
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7
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Notes
to
Financial Statements December
31,
2006 and 2005
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8-15
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Supplemental
Schedule
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Schedule
H,
Line 4i - Schedule of Assets (Held at End of Year) December
31,
2006
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17
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Note:
Other
schedules 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 have been omitted because
they are
not applicable.
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Exhibit
A
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Solar
Turbines Incorporated
Savings
and Investment Plan
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|||||||||
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Statements
of Net Assets Available for Benefits
December
31, 2006 and 2005
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(in
thousands of dollars)
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2006
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2005
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Investments
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Interest
in
the Caterpillar Investment Trust
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$
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96,056
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$
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88,321
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Participant
loans receivable
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3,533
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3,248
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Other
investments - participant directed brokerage accounts
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1,065
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1,327
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Total
Investments
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100,654
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92,896
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Receivables
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Participant
contributions receivable
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86
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1
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Employer
contributions receivable
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19
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-
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Net
assets
available for benefits
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$
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100,759
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$
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92,897
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The
accompanying notes are an integral part of these financial
statements.
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Exhibit
B
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Solar
Turbines Incorporated
Savings
and Investment Plan
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Statements
of Changes in Net Assets Available for Benefits
Years
Ended December 31, 2006 and 2005
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(in
thousands of dollars)
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2006
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2005
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Investment
income
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Plan
interest
in net investment income of Caterpillar Investment trust
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$
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6,823
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$
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11,439
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Interest
on
participant loans receivable
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232
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159
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Net
investment income from participant directed brokerage
accounts
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164
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156
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Net
investment income
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7,219
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11,754
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Contributions
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Participant
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5,934
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5,742
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Employer
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1,978
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1,091
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Total
contributions
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7,912
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6,833
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Deductions
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Withdrawals
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(7,234
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)
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(4,681
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)
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Administrative
expenses
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(35
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)
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-
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Total
contributions
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(7,269
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)
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(4,681
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)
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Increase
in
net assets available for benefits
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7,862
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13,906
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Transfers
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Transfers
from other plans, net
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-
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2,401
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Net
increase
in net assets available for benefits
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7,862
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16,307
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Net
assets available for benefits
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Beginning
of
year
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92,897
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76,590
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End
of
year
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$
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100,759
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$
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92,897
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The
accompanying notes are an integral part of these financial
statements.
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Solar
Turbines Incorporated
Savings
and Investment Plan
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Notes
to Financial Statements
December
31, 2006 and 2005
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1.
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Plan
Description
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The
following
description of the Solar Turbines Incorporated Savings and Investment
Plan
(the “Plan”) provides only general information. Participants should refer
to the Plan agreement for a more complete description of the Plan's
provisions.
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General
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The
Plan is a
contributory defined contribution plan established by Solar Turbines
Incorporated (the “Company”), a 100 percent-owned subsidiary of
Caterpillar Inc., to enable eligible employees of the Company and
its
subsidiaries (the “participating employers”) to accumulate funds for
retirement. The Plan is subject to the provisions of the Employee
Retirement Income Security Act, as amended (“ERISA”).
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Participation
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Hourly
employees of the participating employers who meet certain age, service
and
citizenship or residency requirements are eligible to participate
in the
Plan. Participation commences upon an eligible employee filing an
application with the Plan’s record keeper. Participating eligible
employees (the “participants”) may elect to make after-tax contributions
to the Plan and also defer a portion of their compensation until
retirement through pre-tax contributions.
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Participant
Accounts
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Accounts
are
separately maintained for after-tax and pre-tax contributions by
the
Plan’s record keeper for each participant. The participant's after-tax
contribution account is credited with the participant contributions,
employer contributions and an allocation of Plan earnings. The
participant’s pre-tax contribution account is credited with participant
contributions as defined below and an allocation of Plan earnings.
Allocations of earnings are based on participant account balances,
as
defined. Participant benefits are limited to their vested account
balances.
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Contributions
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Participant
contributions can be made through after-tax payroll deductions based
on a
percentage (2 to 6 percent) of total earnings as elected by the
employee.
Participant
contributions can also be made through pre-tax compensation deferral
as
elected by the participants. Participants who are at least 50 years
old by
the end of the calendar year are allowed by the Plan to make a catch-up
contribution for that year. Contributions are subject to certain
limitations set by the Internal Revenue Code.
Effective
January 14, 2004, the Company began matching contributions to the
Plan
equal to 50 percent, 66-2/3 percent or 80 percent of participant
after-tax
contributions (up to 6 percent of earnings), based on the participant’s
years of service. The Company may change the match percentage or
the limit
on matching contributions from time to time.
Participants
direct the investment of their contributions and employer match
contributions into various investment options offered by the Plan
as
discussed in Note 3. Participants may change their contribution elections
and prospective investment elections on a daily basis and reallocate
the
investment of their existing account balance every seven business
days.
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Vesting
and Distribution Provisions
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Participants
are fully vested in all participant contributions (pre-tax and after-tax)
and earnings thereon. Participants also vest immediately in the Company's
matching contributions and the earnings thereon. Upon termination
of
employment for any reason, including death, retirement or total and
permanent disability, or upon Plan termination, the vested balance
in
participants' accounts is distributable in a single lump sum cash
payment
unless the participant (or beneficiary) elects to receive Company
shares
in kind. The value of any full or fractional shares paid in cash
will be
based upon the average price per share the Trustee receives from
sales of
Company shares for the purpose of making the distribution. Participants
also have the option to leave their vested account balance in the
Plan,
subject to certain limitations.
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Administration
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The
Plan is
administered by Caterpillar Inc., who is responsible for non-financial
matters, and the Benefit Funds Committee of Caterpillar Inc., which
is
responsible for financial aspects of the Plan. Caterpillar Inc. and
the
Benefit Funds Committee have entered into a trust agreement with
The
Northern Trust Company (the “Trustee”) to receive contributions,
administer the assets of the Plan and distribute withdrawals pursuant
to
the Plan.
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Participant
Loans
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The
Plan
provides for participant loans against eligible participants' account
balances. Eligible participants obtain loans by filing a loan application
with the Plan’s record keeper and receiving all requisite approvals. Loan
amounts are generally limited to the lesser of $50,000 or 50 percent
of
the individual participant's vested account balance, with certain
regulatory restrictions. Each loan specifies a repayment period that
cannot extend beyond five years. However, the five-year limit shall
not
apply to any loan used to acquire any dwelling unit which within
a
reasonable time is to be used (determined at the time the loan is
made) as
the principal residence of the participant. Loans bear interest at
the
prime interest rate plus 1 percent, as determined at the time of
loan
origination. Repayments, including interest, are made through after-tax
payroll deductions and are credited to the individual participant's
account balance. At December 31, 2006, participant loans have various
maturity dates through May 22, 2015, with varying interest rates
ranging
from 5 to 11 percent.
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Plan
Termination
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Although
it
has not expressed any intent to do so, the Company has the right
under the
Plan at any time to terminate the Plan subject to provisions of ERISA
and
provisions of the collective bargaining agreement. In the event of
Plan
termination, Plan assets will be distributed in accordance with the
provisions of the Plan.
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Plan
Qualification
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The
Plan
obtained its latest determination letter on July 7, 2000, in which
the
Internal Revenue Service stated that the Plan, as then designed,
was in
compliance with the applicable requirements of the Internal Revenue
Code.
Although the Plan has been amended since receiving the determination
letter, the Plan Administrator and the Plan's tax counsel believe
that the
Plan is designed and is currently being operated in compliance with
the
applicable requirements of the Internal Revenue Code. Therefore,
no
provision for income taxes has been included in the Plan's financial
statements.
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2.
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Summary
of Significant Accounting Policies
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New
Accounting Guidance
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On
December
29, 2005, the Financial Accounting Standards Board issued Financial
Accounting Standards Board Staff Position, FSP AAG INV-1, Reporting
of Fully Benefit-Responsive Investment Contracts Held by Certain
Investment Companies Subject to the AICPA Investment Company Audit
Guide
and Defined-Contribution Health and Welfare and Pension
Plans
(the “FSP”).
The FSP a) describes the limited circumstances in which the net assets
of
an employee benefit plan shall reflect the contract value (which
generally
equals the principal balance plus accrued interest) of certain investments
that it holds, and b) provides a financial statement presentation
and
disclosure of fully benefit-responsive investment contracts. The
Plan has
adopted the FSP as of and for the year ended December 31, 2006, which
did
not have a significant impact on the Statement of Net Assets Available
for
Benefits or the Statement of Changes in Net Assets Available for
Benefits.
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Basis
of Accounting
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The
Plan's
accounts are maintained on the accrual basis of
accounting.
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Investments
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The
Plan’s
interest in the Caterpillar Investment Trust is valued as described
in
Note 4. Investments included in the participant-directed brokerage
account
are valued at quoted market prices which, for registered investment
companies, represent the net asset value of shares held by the Plan
at
year-end. Participant loans are valued at estimated fair value consisting
of principal and any accrued interest. Interest on investments is
recorded
as earned. Dividends are recorded on the ex-dividend date. Purchases
and
sales of securities are recorded on a trade-date basis.
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Administrative
Expenses
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Starting
in
2006, the Plan accrues 6 basis points annually from each investment
fund,
which is transferred monthly from the Caterpillar Investment Trust
into a
holding account to pay expenses as they come due. The amount accumulated
in the holding account is used to pay certain administrative expenses
that
have been approved by the Benefits Fund Committee including recordkeeping
fees, trustee fees, plan education and audit fees. Caterpillar Inc.
pays
any expenses which exceed amounts accrued annually by the plan. Prior
to
2006, all administrative expenses were paid by the Caterpillar Inc.
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Withdrawals
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Withdrawals
are recorded when paid.
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Transfers
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Transfers
to/from other plans generally represent account balance transfers
for
participants who transfer from one plan to another plan primarily
due to
employment status changes.
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Use
of Estimates in the Preparation of Financial
Statements
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The
preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, and changes therein. Actual results
could
differ from those estimates. The Company believes the techniques
and
assumptions used in establishing these amounts are
appropriate.
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Reclassifications
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Certain
amounts from the prior year have been reclassified to conform to
the
current-year financial statement and footnote
presentation.
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Risks
and Uncertainties
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The
Plan
provides for various investment options in any combination of stocks,
bonds, fixed income securities, mutual funds and other 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 could
occur
in the near term and that such changes could materially affect
participants' account balances and the amounts reported in the statement
of net assets available for benefits. Approximately 69 percent of
the
Plan’s investments are invested in Caterpillar Inc. Common Stock.
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3.
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Investment
Programs
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The
majority
of the Plan’s assets are invested in the Caterpillar Investment Trust as
discussed in Note 4, except for the participant-directed brokerage
account
and participant loans receivable.
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In
October
2005, Caterpillar made the strategic decision to exit the investment
management business. As a result, the Benefit Funds Committee selected
new
investment options for the Plan. The transition of the investment
of
participant balances to the new investment options were implemented
after
the close of the market effective May 26, 2006. The new investment
options
are similar in nature to the previous fund options and participant
accounts and future deferral elections were automatically transferred
to
the most similar new investment option. As with the previous structure,
the new investment options consist of four main categories: core
investments, model portfolios, Caterpillar stock and a brokerage
account.
The
core
options consist of nine investment choices, each representing a different
asset class but collectively offering a broad range of investment
alternatives with varying levels of risk and potential returns.
The
model
portfolios contain a specific mix of the Plan’s core investments. Each
portfolio’s mix of stocks and bonds is automatically rebalanced on the
last business day of each calendar quarter. The targeted percentage
of
stocks and bonds in each of the model portfolios is as
follows:
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*
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Conservative
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20%
stocks
and 80% bonds
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*
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Moderately
Conservative
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40%
stocks
and 60% bonds
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*
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Moderately
Aggressive
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60%
stocks
and 40% bonds
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*
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Aggressive
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80%
stocks
and 20% bonds
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The
Caterpillar Stock Fund consists of Caterpillar Inc. common stock
and a
small amount of cash equivalents.
The
brokerage
account option allows participants to invest in various other investments
outside of the standard Plan options. Hewitt Financial Services
is the
custodian for funds invested through this participant-directed
option.
Investments in the participant directed brokerage account consist
of
registered investment companies and the net investment income for
the
participant directed brokerage account consists of net appreciation
(depreciation) in the fair value of investments in registered investment
companies.
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4.
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Master
Trust
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A
portion of
the Plan’s investments are in the Caterpillar Investment Trust (the
"Master Trust"), which was established for the investment of the
Plan and
other Company sponsored retirement plans. These plans pool their
investments in the Master Trust in exchange for a percentage of
participation in the Trust. The assets of the Master Trust are held
by The
Northern Trust Company (the “Trustee”).
The
percentage of the Plan's participation in the Master Trust was determined
based on the December 31, 2006 and 2005 fair values of net assets
for the
investment fund options chosen by participants of each plan. At December
31, 2006 and 2005, the Plan's interest in the net assets of the Master
Trust was 2.01 percent and 2.02 percent, respectively.
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The
net
assets of the Master Trust as of December 31, 2006 and 2005 are as
follows:
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(in
thousands of dollars)
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2006
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2005
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ASSETS
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Investments,
at fair value:
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Caterpillar
Inc. common stock
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$
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2,456,108
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$
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2,304,054
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Common
stocks
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1,090,747
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-
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Corporate
bonds and notes
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57,516
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-
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U.S.
Government securities
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79,737
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-
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Synthetic
guaranteed investment contracts
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|
567,830
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|
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-
|
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Common
collective trusts
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|
299,042
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|
|
|
424,009
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Registered
investment companies
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|
779
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|
|
1,625,104
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Interest
bearing cash
|
|
37,468
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|
|
|
-
|
|
|
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Other
investments
|
|
8,159
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|
|
|
-
|
|
|
|
|
|
|
|
|
|||
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|
|
|
4,597,386
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|
|
|
4,353,167
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|
|
|
|
|
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|
|||
|
|
Securities
on loan, at fair value
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|
|
|
|
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Common
stocks
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|
172,928
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|
|
|
-
|
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Corporate
bonds and notes
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|
11,999
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|
|
|
-
|
|
|
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U.S.
Government securities
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|
34,512
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|
|
|
-
|
|
|
|
|
|
|
|
|
|||
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|
|
|
219,439
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|
|
|
-
|
|
|
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|
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|
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|
|||
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Cash
collateral held under securities loan agreements, at
fair value
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|
|
|
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|
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Caterpillar
Investment Trust Custom Collateral Fund
|
|
213,439
|
|
|
|
-
|
|
|
|
|
|
|
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|
|||
|
|
Other
assets
|
|
|
|
|
|
|
|
|
|
Receivables
for securities sold
|
|
10,309
|
|
|
|
8,443
|
|
|
|
Accrued
income
|
|
5,750
|
|
|
|
1,615
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
16,059
|
|
|
|
10,058
|
|
|
|
|
|
|
|
|
|||
|
|
Total
Master
Trust assets
|
|
5,046,323
|
|
|
|
4,363,225
|
|
|
|
|
|
|
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|
|||
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
|
Obligation
under securities loan agreements, at fair value
|
|
213,439
|
|
|
|
-
|
|
|
|
Payables
for
securities purchased
|
|
53,186
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|||
|
|
Total
Master
Trust liabilities
|
|
266,625
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|||
|
|
Master
Trust
assets, net
|
$
|
4,779,698
|
|
|
$
|
4,363,224
|
|
|
|
|
|
|
|
|
|||
|
|
Plan’s
interest in the net Master Trust assets
|
$
|
96,056
|
|
|
$
|
88,321
|
|
|
|
|
|
|
|
|
|||
|
Investments
are principally stated at fair value. Investments in common stock,
preferred stock, corporate bonds and notes, U.S. Government securities
and
other assets are primarily valued at quoted market prices.
Common/collective trusts are stated at unit value, which represents
the
fair value of the underlying investments. Registered investment companies
are valued at quoted market prices that represent the net asset value
of
shares held by the Master Trust at year-end.
|
|
|
Net
investment income of the Master Trust for the years ended December
31,
2006 and 2005 is as follows:
|
|
|
(in
thousands of dollars)
|
2006
|
2005
|
|||||||
|
|
Interest
|
$
|
21,781
|
|
|
$
|
-
|
|
|
|
|
Dividends
|
|
53,253
|
|
|
|
16,575
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
appreciation of the fair value of investments:
|
|
|
|
|
|
|
|
|
|
|
|
Common
stocks
|
|
246,789
|
|
|
|
380,583
|
|
|
|
|
Corporate
bonds and notes
|
|
1,557
|
|
|
|
-
|
|
|
|
|
U.S.
Government securities
|
|
1,812
|
|
|
|
-
|
|
|
|
|
Common
collective trusts
|
|
29,198
|
|
|
|
14,817
|
|
|
|
|
Registered
investment companies
|
|
44,537
|
|
|
|
101,749
|
|
|
|
|
Other
investments
|
|
1,453
|
|
|
|
-
|
|
|
|
|
|
|
|
|
||||
|
|
Net
Master
Trust investment income
|
$
|
400,380
|
|
|
$
|
513,724
|
|
|
|
|
|
|
|
|
|
||||
|
|
Plan’s
interest in net Master Trust investment income
|
$
|
6,823
|
|
|
$
|
11,439
|
|
|
|
|
|
|
|
|
|
||||
|
Dividend
income is recorded as of the ex-dividend date. Interest income is
recorded
daily as earned. The Master Trust presents in net investment income,
the
net appreciation (depreciation) in the fair value of its investments
which
consists of the realized gains or losses and the unrealized appreciation
(depreciation) on those investments.
|
|
|
Investment
Contracts
|
|
|
The
Master
Trust holds fixed income benefit responsive investment contracts,
referred
to as synthetic guaranteed investment contracts (“synthetic GICs”), in
which an investment contract is issued by an insurance company or
a
financial services institution. Synthetic GICs are valued at contract
value. The synthetic GICs, designed to help preserve principal and
provide
a stable crediting rate of interest, are fully benefit responsive
and
provide that plan participant initiated withdrawals will be paid
at
contract value. The synthetic GICs are backed by a portfolio of fixed
income investments which are effectively owned by the Plan. The assets
underlying the synthetic GICs are maintained by a third party custodian,
separate from the contract issuer's general assets. The synthetic
GICs are
obligated to provide an interest rate not less than zero. These contracts
provide that realized and unrealized gains and losses of the underlying
assets are not reflected immediately in the assets of the fund, but
rather
are amortized, usually over the duration of the underlying assets,
through
adjustments to the future interest crediting rate. The future interest
crediting rate can be adjusted periodically and is primarily based
on the
current yield-to-maturity of the covered investments, plus or minus
amortization of the difference between the market value and contract
value
of the covered investments over the duration of the covered investments
at
the time of computation. The issuers guarantee that all qualified
participant withdrawals will occur at contract value.
Employer
initiated events, if material, may affect the underlying economics
of the
investment contracts. These events include plant closings, layoffs,
plan
termination, bankruptcy or reorganization, merger, early retirement
incentive programs, tax disqualification of a trust or other events.
The
occurrence of one or more employer initiated events could limit the
Plan’s
ability to transact at contract value with plan participants. As
of
December 31, 2006, the Company believes the occurrence of an event
that
would limit the ability of the Plan to transact at contract value
with the
participants in the Plan is remote.
|
|
A
summary of
the average yields for the synthetic GICs are as
follows:
|
|
Average
yields
|
December
31,
2006
|
|||
|
|
|
|||
|
|
Based
on
actual income
|
|
5.75%
|
|
|
|
Based
on
interest rate credited to participants (reduced for fees and
expenses)
|
|
5.53%
|
|
|
|
|
|
|
|
|
The
FSP
requires the Statement of Net Assets Available for Benefits present
the
fair value of the synthetic GICs as well as an adjustment of the
fully
benefit-responsive synthetic GICs from fair value to contract value.
The
synthetic GICs are presented at fair value, which approximates contract
value.
|
|
|
Derivatives
|
|
|
Within
the
Master Trust, a number of investment managers use derivative financial
instruments to meet fund objectives and manage exposure to foreign
currency, interest rate and market fluctuations. The fair value of
these
derivative contracts and related appreciation/depreciation are included
in
Other Investments in the Statements of Net Assets Available for Benefits
and Investment Income of the Master Trust.
|
|
|
A
summary of
the open futures contracts as of December 31, 2006 is as
follows:
|
|
Long
Contracts
|
Short
Contracts
|
||||||||||||
|
|
|
||||||||||||
|
*(in
thousands of dollars)
|
Contracts
|
Fair
Value*
|
Contracts
|
Fair
Value*
|
|||||||||
|
|
|
|
|
||||||||||
|
Equity
futures
|
125
|
$
|
29,369
|
-
|
$
|
-
|
|||||||
|
U.S.
treasury
bill and treasury bond futures
|
139
|
14,680
|
(98
|
)
|
10,532
|
||||||||
|
Eurodollar
futures
|
47
|
11,139
|
-
|
-
|
|||||||||
|
There
were no
futures contracts outstanding as of December 31, 2005.
The
Master
Trust continually monitors its positions with, and the credit quality
of,
the major financial institutions which are counterparties to its
financial
instruments, and does not anticipate nonperformance by these
counterparties.
|
|
|
Securities
Lending
|
|
|
In
June 2006,
the Master Trust began participating in a securities lending program
offered by the Trustee. As a participating lender, the Master Trust
receives cash, letters of credit, or U.S. government securities as
collateral for loans of securities to approved borrowers. The Trustee
pools the cash collateral in the Caterpillar Investment Trust Custom
Collateral Fund, which invests primarily in short term investment
vehicles. Initial collateral levels are not less than 102 percent
of the
fair value of the borrowed securities, or not less than 105 percent
if the
borrowed securities and the collateral are denominated in different
currencies. The fair value of securities on loan was approximately
$219
million at December 31, 2006. The fair value of the collateral received
in
2006 for these loaned securities was approximately $226 million,
of which
approximately $213 million represented cash or other highly liquid
investments. Net investment income from securities lending was
approximately $0.4 million
in
2006 and is included in interest in the net investment income of
the
Master Trust.
|
|
5.
|
Parties-in-Interest
|
|
The
Trustee
is authorized, under contract provisions and by exemption under 29
CFR
408(b) of ERISA regulations, to invest in securities under its control
and
in securities of the Company.
Prior
to May
26, 2006, the Master Trust invested in the Preferred Group of Mutual
Funds, registered investment companies that were sponsored by Caterpillar
Investment Management Ltd. (CIML), formerly a wholly-owned subsidiary
of
Caterpillar Inc. CIML managed the Preferred Short-Term Government
Securities Fund while all other funds were managed by unrelated investment
managers. Caterpillar Securities, Inc., a wholly-owned subsidiary
of CIML,
distributed the shares of the registered investment companies to
the
Master Trust.
Beginning
May
26, 2006, the investment options available to the participants as
summarized in Note 3 include the Caterpillar Stock Fund. The Master
Trust
also invests in the US Equity Broad Index Fund, which is sponsored
and
managed by The Northern Trust Company, the Trustee for the Master
Trust.
The Northern Trust Company also manages the cash equitization portion
of
each of the investment options for liquidity
purposes.
|
|
6.
|
Reconciliation
of Financial Statements to Form 5500
|
|
The
following
table reconciles the net assets available for benefits per the audited
financial statements to the Form 5500 Annual Report:
|
|
|
(in
thousands of dollars)
|
2006
|
2005
|
|||||||
|
Net
assets
available for benefits per financial statements
|
$
|
100,759
|
$
|
92,897
|
|||||
|
Certain
deemed distributions of participant loans
|
(223
|
)
|
(142
|
)
|
|||||
|
|
|
|
|
|
|
||||
|
Net
assets
per Form 5500
|
$
|
100,536
|
$
|
92,755
|
|||||
|
|
|
|
|
|
|
||||
|
Schedule
I
|
|||||||||||
|
Solar
Turbines Incorporated
Savings
and Investment Plan
|
|||||||||||
|
EIN
95-3621514
Schedule
H, Line 4i - Schedule of Assets (Held at End of
Year)
December
31, 2006
|
|||||||||||
|
|
|||||||||||
|
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
|||||||
|
|
Identity
of issuer,
borrower,
lessor
or
similar party
|
Description
of investment, including
maturity
date, rate of interest,
collateral,
par or maturity value
|
Cost
|
Current
value
|
|||||||
|
*
|
Caterpillar
Inc.
|
Caterpillar
Investment Trust
|
**
|
$
|
96,055,900
|
||||||
|
Hewitt
Financial Services
|
Participant-directed
brokerage account
|
**
|
1,065,041
|
||||||||
|
*
|
Participant
loans receivable
|
Participant
loans (various maturity dates through August 8, 2016, various interest
rates ranging from 4.75% to 11%)
|
-
|
3,533,348
|
|||||||
|
|
|
|
|||||||||
|
Total
Investments
|
$
|
100,654,289
|
|||||||||
|
|
|
|
|||||||||
|
* Denotes
party in interest.
|
|||||||||||
|
** Cost
information is not applicable for participant directed
investments.
|
|||||||||||