SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] |
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For the fiscal year ended December 31, 2009 |
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OR |
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] |
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For the transition period from to |
Commission File Number 1-6049
A. Full title of the plan and address of the plan, if different from that of the issuer named below: Target Corporation 401(k) Plan.
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
TARGET CORPORATION
1000 Nicollet Mall
Minneapolis, Minnesota 55403
Target Corporation 401(k) Plan
Financial Statements and Supplemental Schedule
Years Ended December 31, 2009 and 2008
Contents
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1 |
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Financial Statements |
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2 |
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3 |
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Notes to Financial Statements |
4 |
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Schedule H, Line 4i – Schedule of Assets (Held at End of Year) |
17 |
Report of Independent Registered Public Accounting Firm
The Board of Directors and Plan Participants
Target Corporation
We have audited the accompanying statements of net assets available for benefits of the Target Corporation 401(k) Plan (the Plan) as of December 31, 2009 and 2008, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (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. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2009 and 2008, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2009, is presented for purposes of additional analysis and is not a required part of the 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. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.
June 29, 2010
Target Corporation 401(k) Plan
Statements of Net Assets Available for Benefits
(In Thousands)
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December 31 |
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2009 |
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2008 |
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Assets |
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Investments: |
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Commingled funds |
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$ |
3,697,736 |
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$ |
2,642,687 |
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Stable Value Fund |
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938,388 |
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875,760 |
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Total investments |
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4,636,124 |
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3,518,447 |
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Participant loans |
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90,300 |
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83,620 |
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Cash equivalents |
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16,700 |
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14,001 |
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Receivables: |
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Due from broker for securities sold |
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50,219 |
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100,499 |
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Employer contributions |
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9,609 |
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9,795 |
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Participant contributions |
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10,083 |
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9,109 |
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Interest |
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– |
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40 |
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Total receivables |
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69,911 |
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119,443 |
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Total assets |
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4,813,035 |
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3,735,511 |
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Liabilities |
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Payables: |
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Due to broker for securities purchased |
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101,715 |
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127,693 |
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Expenses |
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1,882 |
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5,519 |
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Interest |
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59 |
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– |
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Total liabilities |
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103,656 |
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133,212 |
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Net assets reflecting all investments at fair value |
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4,709,379 |
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3,602,299 |
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Adjustment from fair value to contract value for fully benefit-responsive investment contracts |
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(10,744 |
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24,639 |
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Net assets available for benefits |
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$ |
4,698,635 |
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$ |
3,626,938 |
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See accompanying notes.
Target Corporation 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
(In Thousands)
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Year Ended December 31 |
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2009 |
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2008 |
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Additions to net assets attributed to: |
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Participant contributions |
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$ |
260,591 |
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$ |
275,015 |
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Employer contributions |
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178,545 |
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182,768 |
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Total additions |
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439,136 |
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457,783 |
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Deductions from net assets attributed to: |
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Benefits paid to participants |
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352,634 |
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420,424 |
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Administration fees |
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11,265 |
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13,677 |
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Trustee fees |
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898 |
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916 |
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Total deductions |
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364,797 |
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435,017 |
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Investment income (loss): |
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Interest and dividends |
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50,757 |
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62,949 |
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Net realized and unrealized appreciation (depreciation) in fair value of investments |
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946,601 |
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(1,175,508 |
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Total investment income (loss) |
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997,358 |
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(1,112,559 |
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Net increase (decrease) |
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1,071,697 |
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(1,089,793 |
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Net assets available for benefits: |
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Beginning of year |
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3,626,938 |
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4,716,731 |
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End of year |
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$ |
4,698,635 |
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$ |
3,626,938 |
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See accompanying notes. |
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Target Corporation 401(k) Plan
Notes to Financial Statements
December 31, 2009
1. Description of the Plan
Employees of Target Corporation (the Company and the Plan Administrator) who meet eligibility requirements of age and hours worked can participate in the Target Corporation 401(k) Plan (the Plan).
Under the terms of the Plan, participants can invest up to 80% of their current gross cash compensation in the Plan, within Employee Retirement Income Security Act (ERISA) limits. Participants are allowed to make contributions to the Plan, in any combination of before-tax and/or after-tax contributions, except for highly compensated participants. Highly compensated participants, as defined by the Internal Revenue Code (the Code), can only make before-tax contributions to the Plan. Participants can contribute up to the annual contribution limits established by the Internal Revenue Service (the IRS) ($16,500 and $15,500, plus a $5,500 and $5,000 catch-up for participants age 50 and older for 2009 and 2008, respectively).
Generally, the Company matches, in the form of Target Corporation common stock, 100 percent of each participant’s contribution up to 5 percent of total compensation. All actively employed participants are immediately vested in both the participant contributions and the Company’s matching deposits. Participants can immediately diversify the investment of match funds to the other plan investment options. As of December 31, 2009 and 2008, all investments were participant directed.
Participants may receive benefits upon termination, death, disability, or retirement as either a lump-sum amount equal to the vested value of their account or installments, subject to certain restrictions. Participants may also withdraw some or all of their account balances prior to termination, subject to certain restrictions.
The Plan allows for two types of loans, one for the purchase of a primary residence and the other a general-purpose loan, both subject to restrictions as defined in the Plan. Participants may have one of each type of loan outstanding at any given time. Proceeds received from the repayment of loans, including interest, are allocated to participants’ investment accounts in accordance with each participant’s investment election in effect at the time of the repayment. Interest rates on all loans reflect the prime rate as published by the Wall Street Journal on the first business day of the month the loan is issued, plus 1%.
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 to terminate the Plan subject to the provisions of ERISA.
For more detailed information regarding the Plan, participants may refer to the Summary Plan Description available from the Company.
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
2. Accounting Policies
Basis of Presentation
The accounting and financial reporting policies of the Plan conform to U.S. generally accepted accounting principles (U.S. GAAP).
Investment Valuation and Income Recognition
All investments are carried at fair value. During 2008, the Plan adopted new fair value accounting standards. This adoption did not affect the financial statements of the Plan. Refer to Note 3 for further details related to the Plan’s valuation methods under fair value accounting standards.
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.
Plan Expenses
Expenses paid by the Plan include the following: fund management fees (which are netted against investment interest income), trustee fees, monthly processing costs (including record-keeping fees), quarterly participant account statement preparation and distribution costs, and other third-party administrative expenses.
Fully Benefit-Responsive Investment Contracts
As described in fair value accounting standards, investment contracts held by a defined-contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.
The Plan invests in two synthetic guaranteed investment contracts (GICs). GICs are investment contracts in which the Plan owns the underlying assets and purchases contracts from independent third parties that provide market value and cash flow risk protection to the Plan. As required by fair value accounting standards, the statement of net assets available for benefits presents the fair value of the GICs as well as the difference between the GICs’ fair value and contract value, or the adjustment to contract value. The GICs’ underlying assets are measured at fair value in accordance with fair value accounting standards. The fair value of the fully benefit-responsive wrapper contracts is the replacement cost of those contracts. The GICs’ contract value represents the sum of participants’ contributions and earnings on the underlying assets, less participants’ withdrawals and administrative expenses.
Reclassifications
Certain prior year amounts have been reclassified to conform to the current year presentation.
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
2. Accounting Policies (continued)
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ significantly from those estimates.
3. Fair Value Measurements
In the first quarter of 2008, the Plan adopted fair value accounting standards. These standards define fair value for financial assets and liabilities, establish a framework for measuring fair value and expand disclosure requirements about fair value measurements. Fair value accounting standards define fair value as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties.
Assets recorded at fair value are categorized using defined hierarchical levels directly related to the amount of subjectivity associated with the inputs to valuation of an asset: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable inputs available at the measurement date, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). Assets measured at fair value on a recurring basis are categorized based upon the lowest level of significant input to the valuations.
In determining fair value, the Plan uses observable market data when available.
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Fair Value at December 31, 2009 |
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Using Inputs Considered as |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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Fair value measurements |
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(In Thousands) |
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Cash equivalents |
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$ |
16,700 |
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$ |
– |
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$ |
16,700 |
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$ |
– |
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Commingled funds: |
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– |
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– |
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Target Corporation common stock fund |
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1,941,696 |
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– |
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1,941,696 |
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– |
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Lifecycle funds a |
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575,529 |
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– |
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575,529 |
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– |
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U.S. government and agency obligations |
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185,089 |
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– |
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185,089 |
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– |
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U.S. equities b |
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622,279 |
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– |
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622,279 |
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– |
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International equities b |
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373,143 |
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– |
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373,143 |
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– |
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Stable Value Fund:c |
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Fixed income securities |
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219,327 |
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– |
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219,327 |
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– |
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Guaranteed investment contracts |
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719,061 |
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– |
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719,061 |
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– |
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Participant loans |
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90,300 |
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– |
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– |
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90,300 |
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Total |
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$ |
4,743,124 |
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$ |
– |
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$ |
4,652,824 |
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$ |
90,300 |
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Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
3. Fair Value Measurements (continued)
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Fair Value at December 31, 2008 |
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Using Inputs Considered as |
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Total |
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Level 1 |
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Level 2 |
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Level 3 |
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Fair value measurements |
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(In Thousands) |
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Cash equivalents |
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$ |
14,001 |
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$ |
– |
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$ |
14,001 |
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$ |
– |
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Commingled funds: |
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Target Corporation common stock fund |
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1,432,338 |
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– |
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1,432,338 |
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– |
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Lifecycle fundsa |
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390,032 |
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– |
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390,032 |
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– |
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U.S. government and agency obligations |
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144,103 |
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– |
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144,103 |
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– |
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U.S. equitiesb |
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451,029 |
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– |
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451,030 |
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– |
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International equities b |
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225,185 |
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– |
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225,185 |
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– |
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Stable Value Fund:c |
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Fixed income securities |
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236,710 |
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– |
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236,710 |
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– |
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Guaranteed investment contracts |
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639,050 |
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– |
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639,050 |
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– |
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Participant loans |
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83,620 |
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– |
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– |
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83,620 |
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Total |
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$ |
3,616,068 |
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$ |
– |
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$ |
3,532,449 |
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$ |
83,620 |
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a These commingled funds share the common goal of first growing and then later preserving principal and contain a mix of U.S. common stocks, U.S. issued bonds and cash. There are currently no redemption restrictions on these investments.
b The Plan has restrictions around liquidating its entire share in the fund. These restrictions are set to expire in early 2011.
c The Stable Value Fund is a self-managed fund designed to deliver safety and stability by preserving principal and accumulating earnings. This fund invests in a portfolio of GICS, short-term investment funds, high-quality short-and intermediate-term U.S. bonds, including U.S. government treasuries, corporate debt securities, and other high-credit-quality asset-backed securities.
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
3. Fair Value Measurements (continued)
The following sets forth the types of assets measured at fair value and a brief description of the valuation technique for each asset type:
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Position Description |
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Valuation Technique |
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Cash equivalents/Commingled funds |
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These investments are 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 minus applicable costs and liabilities, and then divided by the number of shares outstanding. |
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Stable Value Fund |
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The fair value of the Stable Value Fund is based on the underlying investments, which are valued using corroborated market data. Fixed income securities are valued using the NAV provided by the admistrator of the fund. The fair value of the wrapper contracts is based on the wrap contract fees provided by the insurance companies. |
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Participant loans |
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Loans to plan participants are valued at cost, which approximates fair value. |
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
3. Fair Value Measurements (continued)
The following is a reconciliation of the beginning and ending balances, including total gains (losses), realized and unrealized, for the period of Level 3 investments.
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Beginning |
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Net Payments, |
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Ending |
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Level 3 reconciliation |
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(In Thousands) |
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Fair Value for the Year Ended December 31, 2009 |
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Participant loans |
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$ |
83,620 |
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$ |
6,680 |
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$ |
90,300 |
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Fair Value for the Year Ended December 31, 2008 |
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Participant loans |
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$ |
81,000 |
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$ |
2,620 |
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$ |
83,620 |
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4. Investments
At December 31, 2009, the Plan allows participants to allocate their investments among 19 investment funds. Participants may change their investment elections daily for both existing account balances and future contributions.
The Plan’s investments are held by State Street Bank, the trustee. The Plan’s investments, including investments bought and sold, as well as investments held during the year, appreciated or depreciated in fair value as follows:
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Net Appreciation |
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(In Thousands) |
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Year ended December 31, 2009: |
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Commingled funds |
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$ |
375,013 |
|
|
|
Target Corporation common stock fund |
|
571,588 |
|
|
|
|
|
|
$ |
946,601 |
|
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|
|
|
|
|
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Year ended December 31, 2008: |
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|
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Commingled funds |
|
$ |
(577,433 |
) |
|
|
Target Corporation common stock fund |
|
(598,075 |
) |
|
|
|
|
|
$ |
(1,175,508 |
) |
|
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
4. Investments (continued)
The fair values of individual investments representing 5% or more of the Plan’s net assets are as follows:
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At December 31 |
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2009 |
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2008 |
|
|
|
|
(In Thousands) |
|
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Target Corporation common stock fund* |
|
$ 1,941,696 |
|
$ 1,432,338 |
|
|
State Street Bank & Trust Co. S&P 500 Flagship Fund Class A* |
|
302,682 |
|
240,093 |
|
|
Wells Fargo Bank – Stable Value Fund |
|
^ |
|
204,447 |
|
*Indicates issuer is a party in interest to the Plan.
^Investment does not represent 5% or more of the Plan’s net assets as of this date.
5. The Stable Value Fund
The Stable Value Fund (the Fund) consists of investments in fixed income securities, guaranteed investment contracts (GICs) and wrap contracts.
The GICs are fully benefit-responsive and involve two separate insurance companies. Contributions to this fund are invested in a portfolio of high-quality short- and intermediate-term U.S. bonds, including U.S. government treasuries, corporate debt securities, and other high-credit-quality asset-backed securities. The GIC issuers are contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan. There are no reserves against contract values for credit risk of the contract issuers or otherwise.
The two wrap contracts in which the Fund has entered are with insurance companies under which the insurance companies provide guarantees with respect to the return of funds to make distributions from this investment option. These insurance contracts are carried at contract value in the participants’ accounts.
Participant accounts in the Fund are credited with interest at a fixed rate that is evaluated monthly. The primary variables affecting the future crediting rates include (1) the current yield of the assets underlying the contract, (2) the duration of the assets underlying the contracts, and (3) the existing difference between the fair value of the securities and the contract value of the assets within the insurance contract. The crediting rate of security-backed contracts will track current market yields on a trailing basis. The rate reset allows the contract value to converge with the fair value of the underlying portfolio over time, assuming the portfolio continues to earn the current yield for a period of time equal to the current portfolio duration.
To the extent that the underlying portfolio has unrealized and/or realized losses, a positive adjustment is made when reconciling from fair value to contract value under contract value accounting. As a result, the future crediting rate may be lower over time than the current market rates. Similarly, if the underlying portfolio generates unrealized and/or realized gains, a negative adjustment is made when reconciling from fair value to contract value, and in the future, the
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
5. The Stable Value Fund (continued)
crediting rate may be higher than the current market rates. The insurance contracts cannot credit an interest rate that is less than 1%.
Certain events limit the ability of the Plan to transact at contract value with the insurance company. Such events are limited to premature termination of the contracts by the Plan or plan termination. The Plan Administrator has not expressed any intention to take either of these actions. The wrapper contracts cannot be terminated by the issuers of the contracts at a value other than contract value except under a limited number of specific circumstances including termination of the Plan or failure to qualify under specific tax code provisions, material misrepresentations by the Plan Administrator or investment manager, failure by these same parties to meet material obligations under the contract, or other similar types of events.
As described in Note 2, because the GICs are fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the GICs. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. The average yields earned by the Fund at December 31, 2009 and 2008, are as follows:
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Average Yields for GICs |
|
2009 |
|
2008 |
|
|
|
|
|
|
|
|
|
Based on actual earnings |
|
3.40 |
% |
5.02 |
% |
|
Based on interest rate credited to participants |
|
2.67 |
|
4.34 |
|
6. Transactions with Parties in Interest
During the plan years 2009 and 2008, the Plan engaged in the following exempt party-in-interest transactions related to the Company’s common stock:
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|
|
2009 |
|
2008 |
|
||
|
|
|
(In Thousands) |
|
||||
|
|
|
|
|
||||
|
Number of common shares purchased |
|
10,440 |
|
13,149 |
|
||
|
Cost of common shares purchased |
|
$ |
413,052 |
|
$ |
590,673 |
|
|
|
|
|
|
|
|
||
|
Number of common shares sold |
|
11,564 |
|
15,720 |
|
||
|
Market value of common shares sold |
|
$ |
470,545 |
|
$ |
758,935 |
|
|
Cost of common shares sold |
|
$ |
400,329 |
|
$ |
519,279 |
|
|
|
|
|
|
|
|
||
|
Number of common shares distributed to plan participants |
|
250 |
|
265 |
|
||
|
Market value of common shares distributed to plan participants |
|
$ |
10,432 |
|
$ |
12,695 |
|
|
Cost of common shares distributed to plan participants |
|
$ |
8,701 |
|
$ |
8,646 |
|
|
|
|
|
|
|
|
||
|
Dividends received (net of pass-through dividends) |
|
$ |
19,974 |
|
$ |
24,450 |
|
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
7. Income Tax Status
The Plan has received a determination letter from the IRS dated September 12, 2001, stating that the Plan is qualified under Section 401(a) of the Code, and therefore, the related trust is exempt from taxation. Subsequent to the issuance of this determination letter, the Plan was amended and restated. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Administrator believes that the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes the Plan, as amended and restated, is qualified and the related trust is tax-exempt.
8. 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 the amounts reported in the financial statements. The Plan’s exposure to credit risk on guaranteed investment contracts is limited to the fair value of the contracts with each of the counterparties.
9. Reconciliation of Financial Statements to the Form 5500
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|||||
|
|
|
2009 |
|
2008 |
|||
|
|
|
(In Thousands) |
|
||||
|
|
|
|
|
|
|
||
|
Net assets available for benefits per the financial statements |
|
$ |
4,698,635 |
|
$ |
3,626,938 |
|
|
Amounts allocated to withdrawing participants |
|
(2,268 |
) |
(1,035 |
) |
||
|
Adjustment from contract value to fair value for fully benefit-responsive investment contracts |
|
10,744 |
|
(24,639 |
) |
||
|
Participant contribution receivable accrual |
|
(7,489 |
) |
(9,109 |
) |
||
|
Employer contribution receivable accrual |
|
(5,042 |
) |
(6,282 |
) |
||
|
Net assets available for benefits per the Form 5500 |
|
$ |
4,694,580 |
|
$ |
3,585,873 |
|
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
9. Reconciliation of Financial Statements to the Form 5500 (continued)
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|||||
|
|
|
2009 |
|
2008 |
|||
|
|
|
(In Thousands) |
|
||||
|
Benefits paid to participants per the financial statements |
|
$ |
352,634 |
|
$ |
420,424 |
|
|
Amounts allocated to withdrawing participants at December 31, 2007 |
|
– |
|
(1,712 |
) |
||
|
Amounts allocated to withdrawing participants at December 31, 2008 |
|
(1,035 |
) |
1,035 |
|
||
|
Amounts allocated to withdrawing participants at December 31, 2009 |
|
2,268 |
|
– |
|
||
|
Benefits paid to participants per the Form 5500 |
|
$ |
353,867 |
|
$ |
419,747 |
|
The following is a reconciliation of participant contributions available for benefits per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|||||
|
|
|
2009 |
|
2008 |
|||
|
|
|
(In Thousands) |
|
||||
|
Participant contributions available for benefits per the financial statements |
|
$ |
10,083 |
|
$ |
9,109 |
|
|
Participant contribution receivable accrual |
|
(7,489 |
) |
(9,109 |
) |
||
|
Participant contributions available for benefits per the Form 5500 |
|
$ |
2,594 |
|
$ |
– |
|
The following is a reconciliation of employer contributions available for benefits per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|
||||
|
|
|
2009 |
|
2008 |
|
||
|
|
|
(In Thousands) |
|
||||
|
Employer contributions available for benefits per the financial statements |
|
$ |
9,609 |
|
$ |
9,795 |
|
|
Employer contribution receivable accrual |
|
(5,042 |
) |
(6,282 |
) |
||
|
Employer contributions available for benefits per the Form 5500 |
|
$ |
4,567 |
|
$ |
3,513 |
|
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
9. Reconciliation of Financial Statements to the Form 5500 (continued)
The following is a reconciliation of additions to net assets attributed to participant contributions per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|
||||
|
|
|
2009 |
|
2008 |
|
||
|
|
|
(In Thousands) |
|
||||
|
Additions to net assets attributed to participant contributions per the financial statements |
|
$ |
260,591 |
|
$ |
275,015 |
|
|
Change in participant contribution receivable accrual |
|
1,620 |
|
(1,262 |
) |
||
|
Additions to net assets attributed to participant contributions per the Form 5500 |
|
$ |
262,211 |
|
$ |
273,753 |
|
The following is a reconciliation of additions to net assets attributed to employer contributions per the financial statements to the Form 5500:
|
|
|
Year Ended December 31 |
|
||||
|
|
|
2009 |
|
2008 |
|
||
|
|
|
(In Thousands) |
|
||||
|
Additions to net assets attributed to employer contributions per the financial statements |
|
$ |
178,545 |
|
$ |
182,768 |
|
|
Change in employer contribution receivable accrual |
|
1,240 |
|
(511 |
) |
||
|
Additions to net assets attributed to employer contributions per the Form 5500 |
|
$ |
179,785 |
|
$ |
182,257 |
|
Target Corporation 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2009
9. Reconciliation of Financial Statements to the Form 5500 (continued)
The following is a reconciliation of total additions to net assets per the financial statements to total (loss) income per the Form 5500:
|
|
|
Year Ended December 31 |
|
||||
|
|
|
2009 |
|
2008 |
|
||
|
|
|
(In Thousands) |
|
||||
|
Total additions to net assets per the financial statements |
|
$ |
439,136 |
|
$ |
457,783 |
|
|
Adjustment from contract value to fair value for fully benefit-responsive investment contracts at December 31, 2008 |
|
24,639 |
|
(5,745 |
) |
||
|
Adjustment from contract value to fair value for fully benefit-responsive investment contracts at December 31, 2009 |
|
10,744 |
|
(24,639 |
) |
||
|
Investment income (loss) |
|
997,358 |
|
(1,112,559 |
) |
||
|
Change in participant contribution receivable accrual |
|
1,620 |
|
(1,262 |
) |
||
|
Change in employer contribution receivable accrual |
|
1,240 |
|
(511 |
) |
||
|
Total income (loss) per the Form 5500 |
|
$ |
1,474,737 |
|
$ |
(686,933 |
) |
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2009
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Cash equivalents |
|
|
|
|
|
|
|
||
|
16,700,109 |
|
|
*State Street Bank & Trust Co. |
|
|
|
$ |
16,700,109 |
|
|
|
|
|
|
|
|
|
|
||
|
Commingled investment funds |
|
|
|
|
|
|
|
||
|
55,434,825 |
|
|
*Target Corporation Common Stock |
|
|
|
1,941,696,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays Global Investors |
|
|
|
|
|
|
|
276,814 |
|
|
US Real Estate Index Fund |
|
|
|
45,170,538 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barclays Global Investors |
|
|
|
|
|
|
|
13,615,050 |
|
|
BGI S&P 500 Growth |
|
|
|
146,420,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*State Street Bank & Trust Co. |
|
|
|
|
|
|
|
6,184,478 |
|
|
Daily Emerging Markets Index Fund |
|
|
|
149,293,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*State Street Bank & Trust Co. |
|
|
|
|
|
|
|
9,491,767 |
|
|
Treasury Inflation Protected |
|
|
|
185,089,463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*State Street Bank & Trust Co. |
|
|
|
|
|
|
|
1,335,117 |
|
|
Flagship FD Series A |
|
|
|
302,681,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*State Street Bank & Trust Co. |
|
|
|
|
|
|
|
12,613,366 |
|
|
EAFE Series T |
|
|
|
223,849,413 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*State Street Bank & Trust Co. |
|
|
|
|
|
|
|
5,972,955 |
|
|
Russell 2000 Fund |
|
|
|
128,006,392 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,188,273 |
|
|
Blackrock, Inc. LIFEPATH INDEX RETIREMENT FUND |
|
61,947,979 |
|
|||
|
4,726,752 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2015 FUNDF |
|
|
|
52,325,142 |
|
|
|
5,715,289 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2020 FUND F |
|
|
|
65,382,910 |
|
|
|
6,645,460 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2025 FUND F |
|
|
|
70,308,969 |
|
|
|
6,468,049 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2030 FUND F |
|
|
|
71,860,020 |
|
|
|
7,230,443 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2035 FUND F |
|
|
|
73,605,908 |
|
|
|
6,686,658 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2040 FUND F |
|
|
|
72,215,903 |
|
|
|
6,006,062 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2045 FUND F |
|
|
|
58,859,411 |
|
|
|
6,205,399 |
|
|
Blackrock, Inc. LIFEPATH INDEX 2050 FUND F |
|
|
|
49,022,649 |
|
|
|
|
|
|
Total Commingled investment funds |
|
|
|
3,697,736,246 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Stable Value Fund |
|
|
|
|
|
|
|
||
|
|
|
American International Life Group |
|
|
|
|
|
||
|
|
|
Products Group Annuity Contract |
|
|
|
|
|
||
|
|
|
No. 130221, 3.94% |
|
A3/A- |
|
$ |
333,197 |
|
|
|
|
|
Pacific Mutual Life Insurance Co. |
|
|
|
|
|
||
|
|
|
Group Annuity Contract |
|
|
|
|
|
||
|
|
|
No. 26255, 3.945% |
|
A1/AA- |
|
333,197 |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
WELLS FARGO, GALLIARD |
|
|
|
|
|
||
|
|
|
CAPITAL MANAGEMENT - |
|
|
|
|
|
||
|
1,731,389 |
|
|
MANAGED SYNTHETIC FUND |
|
|
|
33,687,625 |
|
|
|
|
|
|
WELLS FARGO, GALLIARD |
|
|
|
|
|
|
|
|
|
|
CAPITAL MANAGEMENT - |
|
|
|
|
|
|
|
4,000,492 |
|
|
STABLE RETURN FUND |
|
|
|
185,638,821 |
|
|
|
9,300,000 |
|
|
10YR INTEREST RATE SWAP FUTURES |
|
|
|
– |
|
|
|
1,900,000 |
|
|
10YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
10,800,000 |
|
|
10YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
800,000 |
|
|
1345 AVE OF THE AMERS TR |
|
|
|
834,836 |
|
|
|
4,800,000 |
|
|
2YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
(8,400,000 |
) |
|
2YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
3,200,000 |
|
|
30YR US TREASURY BOND FUTURES |
|
|
|
– |
|
|
|
(1,700,000 |
) |
|
30YR US TREASURY BOND FUTURES |
|
|
|
– |
|
|
|
15,700,000 |
|
|
5YR INTERST RATE SWAP FUTURES |
|
|
|
– |
|
|
|
(900,000 |
) |
|
5YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
8,100,000 |
|
|
5YR US TREASURY NOTE FUTURES |
|
|
|
– |
|
|
|
(13,750,000 |
) |
|
90DAY EURODOLLAR FUTURES CME |
|
|
|
– |
|
|
|
(20,000,000 |
) |
|
90DAY EURODOLLAR FUTURES CME |
|
|
|
– |
|
|
|
79,387 |
|
|
ABN AMRO MTG CORP |
|
|
|
79,086 |
|
|
|
401,973 |
|
|
ACCREDITED MTG LN TR |
|
|
|
388,871 |
|
|
|
1,300,000 |
|
|
ACHMEA HYPOTHEEKBANK NV |
|
|
|
1,297,483 |
|
|
|
390,000 |
|
|
AGRIBANK FCB |
|
|
|
428,591 |
|
|
|
120,000 |
|
|
ALLSTATE CORP |
|
|
|
139,419 |
|
|
|
375,000 |
|
|
ALTRIA GROUP INC |
|
|
|
463,563 |
|
|
|
890,650 |
|
|
AMCAR 2008 2 A2 |
|
|
|
910,701 |
|
|
|
250,000 |
|
|
AMERICAN EXPR CENTURION |
|
|
|
248,086 |
|
|
|
250,000 |
|
|
AMERICAN EXPRESS CEN BK NEW |
|
|
|
259,300 |
|
|
|
500,000 |
|
|
AMERICAN EXPRESS CR CORP |
|
|
|
498,697 |
|
|
|
206,469 |
|
|
AMERICAN HOME MTG |
|
|
|
100,620 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Stable Value Fund (continued) |
|
|
|
|
|
||||
|
473,868 |
|
|
AMERIQUEST MTG SECS INC |
|
|
|
$ |
349,333 |
|
|
1,000,000 |
|
|
AMGEN INC |
|
|
|
985,000 |
|
|
|
180,000 |
|
|
AMGEN INC |
|
|
|
196,695 |
|
|
|
100,000 |
|
|
ANGLO AMERICAN CAPITAL |
|
|
|
119,994 |
|
|
|
200,000 |
|
|
ANGLO AMERICAN CAPITAL |
|
|
|
254,042 |
|
|
|
2,225,000 |
|
|
ANHEUSER BUSCH INBEV WOR |
|
|
|
2,235,424 |
|
|
|
550,000 |
|
|
ANHEUSER BUSCH INBEV WOR |
|
|
|
558,443 |
|
|
|
105,000 |
|
|
ANHEUSER BUSCH INBEV WOR |
|
|
|
107,127 |
|
|
|
100,000 |
|
|
ANHEUSER BUSCH INBEV WORLDWIDE |
|
|
|
113,416 |
|
|
|
625,000 |
|
|
ANHEUSER BUSCH INVEV WORLDWIDE |
|
|
|
731,747 |
|
|
|
750,000 |
|
|
ANZ CAP TR I |
|
|
|
750,023 |
|
|
|
10,000 |
|
|
AOL TIME WARNER INC |
|
|
|
10,595 |
|
|
|
510,000 |
|
|
ARAB REP EGYPT |
|
|
|
535,051 |
|
|
|
110,000 |
|
|
ASSURANT INC |
|
|
|
112,785 |
|
|
|
300,000 |
|
|
AT + T BROADBAND CORP |
|
|
|
385,844 |
|
|
|
285,000 |
|
|
AT + T INC |
|
|
|
321,550 |
|
|
|
55,000 |
|
|
AT+T WIRELESS |
|
|
|
62,146 |
|
|
|
235,000 |
|
|
AT+T WIRELESS SVCS INC |
|
|
|
252,483 |
|
|
|
500,000 |
|
|
ATT INC |
|
|
|
500,105 |
|
|
|
325,000 |
|
|
B A T INTL FIN PLC |
|
|
|
412,714 |
|
|
|
1,485,000 |
|
|
BA CR CARD TR |
|
|
|
1,491,841 |
|
|
|
125,000 |
|
|
BAE SYS HLDGS INC |
|
|
|
128,774 |
|
|
|
235,000 |
|
|
BAE SYSTEMS HOLDINGS INC |
|
|
|
252,782 |
|
|
|
230,265 |
|
|
BANC AMER ALTERNATIVE LN TR |
|
|
|
229,233 |
|
|
|
350,728 |
|
|
BANC AMER ALTERNATIVE LN TR |
|
|
|
331,438 |
|
|
|
1,271,075 |
|
|
BANC AMER COML MTG INC |
|
|
|
1,319,640 |
|
|
|
1,180,000 |
|
|
BANC AMER COML MTG INC |
|
|
|
1,182,959 |
|
|
|
221,959 |
|
|
BANC AMER COML MTG INC |
|
|
|
223,540 |
|
|
|
1,835,000 |
|
|
BANC AMER COML MTG INC |
|
|
|
1,899,584 |
|
|
|
1,050,000 |
|
|
BANC AMER COML MTG INC |
|
|
|
1,007,518 |
|
|
|
2,000,000 |
|
|
BANC AMER COML MTG INC |
|
|
|
1,960,384 |
|
|
|
88,435 |
|
|
BANC AMER FDG CORP |
|
|
|
86,731 |
|
|
|
170,909 |
|
|
BANC AMER MTG SECS INC |
|
|
|
155,099 |
|
|
|
840,073 |
|
|
BANC OF AMERICA COMM MTG INC |
|
|
|
867,788 |
|
|
|
490,000 |
|
|
BANK AMER CORP |
|
|
|
501,769 |
|
|
|
4,190,000 |
|
|
BANK AMER CORP MEDIUM TERM |
|
|
|
4,228,678 |
|
|
|
425,000 |
|
|
BANK OF AMERICA CORP |
|
|
|
491,660 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Stable Value Fund (continued) |
|
|
|
|
|
||||
|
150,000 |
|
|
BANK ONE CORP |
|
|
|
$ |
159,069 |
|
|
80,000 |
|
|
BANKAMERICA CORP |
|
|
|
85,941 |
|
|
|
425,000 |
|
|
BARCLAYS BK PLC |
|
|
|
386,750 |
|
|
|
400,000 |
|
|
BARRICK GOLD CORP |
|
|
|
450,377 |
|
|
|
799,954 |
|
|
BCAP LLC TR |
|
|
|
526,694 |
|
|
|
308,928 |
|
|
BEAR STEARNS ALT A TR |
|
|
|
215,656 |
|
|
|
715,000 |
|
|
BEAR STEARNS COML MTG SECS |
|
|
|
688,614 |
|
|
|
575,000 |
|
|
BEAR STEARNS COMMERCIAL MORT |
|
|
|
544,191 |
|
|
|
275,000 |
|
|
BEAR STEARNS COS INC |
|
|
|
292,810 |
|
|
|
615,000 |
|
|
BEAR STEARNS COS INC |
|
|
|
670,400 |
|
|
|
550,000 |
|
|
BEAR STEARNS COS INC |
|
|
|
631,319 |
|
|
|
1,235,000 |
|
|
BEAR STEARNS COS INC MED TERM |
|
|
|
1,379,836 |
|
|
|
135,000 |
|
|
BHP BILLITON FIN USA LTD |
|
|
|
144,636 |
|
|
|
405,000 |
|
|
BLACKROCK INC |
|
|
|
399,914 |
|
|
|
240,000 |
|
|
BMW BANK NORTH AMERICA |
|
|
|
239,502 |
|
|
|
300,000 |
|
|
BOARDWALK PIPELINES LLC |
|
|
|
306,355 |
|
|
|
940,000 |
|
|
BP CAP MKTS P L C |
|
|
|
968,245 |
|
|
|
1,100,000 |
|
|
BRITISH TELECOMMUNICATIONS PLC |
|
|
|
1,178,452 |
|
|
|
(2,100,000 |
) |
|
BRS58MFL0 IRS USD P F 5.30500 |
|
|
|
(2,363,130 |
) |
|
|
2,100,000 |
|
|
BRS58MFL0 IRS USD R V 03MLIBOR |
|
|
|
2,101,470 |
|
|
|
(6,000,000 |
) |
|
BRS7Q21W1 IRS USD P V 03MLIBOR |
|
|
|
(6,179,400 |
) |
|
|
6,000,000 |
|
|
BRS7Q21W1 IRS USD R F 1.53750 |
|
|
|
6,228,600 |
|
|
|
(1,600,000 |
) |
|
BRS814SP8 IRS USD P F 2.42750 |
|
|
|
(1,592,640 |
) |
|
|
1,600,000 |
|
|
BRS814SP8 IRS USD R V 03MLIBOR |
|
|
|
1,601,120 |
|
|
|
(4,200,000 |
) |
|
BRS8EUZ60 IRS USD P V 03MLIBOR |
|
|
|
(4,202,940 |
) |
|
|
4,200,000 |
|
|
BRS8EUZ60 IRS USD R F 2.00000 |
|
|
|
4,265,520 |
|
|
|
(6,300,000 |
) |
|
BRS8TXE53 IRS USD P F 2.58750 |
|
|
|
(6,257,160 |
) |
|
|
6,300,000 |
|
|
BRS8TXE53 IRS USD R V 03MLIBOR |
|
|
|
6,304,410 |
|
|
|
(14,200,000 |
) |
|
BRS8WHV71 IRS USD P V 03MLIBOR |
|
|
|
(14,208,520 |
) |
|
|
14,200,000 |
|
|
BRS8WHV71 IRS USD R F 1.36500 |
|
|
|
14,261,060 |
|
|
|
425,000 |
|
|
CABLE + WIRELESS OPTUS FIN |
|
|
|
436,730 |
|
|
|
200,000 |
|
|
CALIFORNIA ST |
|
|
|
196,496 |
|
|
|
495,000 |
|
|
CALIFORNIA ST |
|
|
|
467,815 |
|
|
|
975,000 |
|
|
CANADA GOVT |
|
|
|
958,067 |
|
|
|
1,000,000 |
|
|
CANADIAN NAT RES LTD |
|
|
|
1,064,299 |
|
|
|
160,000 |
|
|
CANADIAN NAT RES LTD |
|
|
|
170,943 |
|
|
|
125,000 |
|
|
CANADIAN NATL RESOURCE |
|
|
|
132,595 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Stable Value Fund (continued) |
|
|
|
|
|
|
|
||
|
150,000 |
|
|
CANADIAN NATL RESOURCES |
|
|
|
$ |
162,793 |
|
|
540,000 |
|
|
CAPITAL ONE BANK USA NA |
|
|
|
638,100 |
|
|
|
250,000 |
|
|
CAROLINA FIRST BANK |
|
|
|
249,639 |
|
|
|
715,019 |
|
|
CARRINGTON MTG LN TR |
|
|
|
613,613 |
|
|
|
700,000 |
|
|
CATERPILLAR FINANCIAL SE |
|
|
|
705,789 |
|
|
|
360,000 |
|
|
CDP FINANCIAL |
|
|
|
344,840 |
|
|
|
380,000 |
|
|
CELLCO PART/VERI WIRELSS |
|
|
|
412,406 |
|
|
|
740,000 |
|
|
CELLCO PART/VERI WIRELSS |
|
|
|
917,883 |
|
|
|
445,000 |
|
|
CENOVUS ENERGY INC |
|
|
|
464,164 |
|
|
|
175,000 |
|
|
CENOVUS ENERGY INC |
|
|
|
190,759 |
|
|
|
130,000 |
|
|
CENTERPOINT ENERGY HOUSTON |
|
|
|
148,013 |
|
|
|
111,610 |
|
|
CENTEX HOME EQUITY LN TR |
|
|
|
107,592 |
|
|
|
108,646 |
|
|
CENTEX HOME EQUITY LN TR |
|
|
|
98,225 |
|
|
|
2,280,000 |
|
|
CHAIT 2009 A7 A7 |
|
|
|
2,282,722 |
|
|
|
400,000 |
|
|
CHASE MANHATTAN CORP NEW |
|
|
|
412,510 |
|
|
|
175,000 |
|
|
CHUBB CORP |
|
|
|
162,750 |
|
|
|
85,000 |
|
|
CISCO SYSTEMS INC |
|
|
|
87,126 |
|
|
|
875,000 |
|
|
CISCO SYSTEMS INC |
|
|
|
858,361 |
|
|
|
3,885,000 |
|
|
CITIBANK NA |
|
|
|
3,895,299 |
|
|
|
1,605,000 |
|
|
CITIBANK NA |
|
|
|
1,603,777 |
|
|
|
1,845,000 |
|
|
CITIBANK NA |
|
|
|
1,828,768 |
|
|
|
95,611 |
|
|
CITICORP MTG SECS INC |
|
|
|
95,717 |
|
|
|
52,129 |
|
|
CITICORP MTG SECS INC |
|
|
|
53,041 |
|
|
|
69,057 |
|
|
CITIFINANCIAL MTG SECS INC |
|
|
|
50,862 |
|
|
|
1,100,000 |
|
|
CITIGROUP FDG INC |
|
|
|
1,108,494 |
|
|
|
1,490,000 |
|
|
CITIGROUP FUNDING INC |
|
|
|
1,502,112 |
|
|
|
3,345,000 |
|
|
CITIGROUP FUNDING INC |
|
|
|
3,334,983 |
|
|
|
2,270,000 |
|
|
CITIGROUP FUNDING INC |
|
|
|
2,264,148 |
|
|
|
1,410,000 |
|
|
CITIGROUP FUNDING INC |
|
|
|
1,421,069 |
|
|
|
500,000 |
|
|
CITIGROUP INC |
|
|
|
499,463 |
|
|
|
2,855,000 |
|
|
CITIGROUP INC |
|
|
|
2,870,191 |
|
|
|
530,000 |
|
|
CITIGROUP INC |
|
|
|
552,124 |
|
|
|
175,000 |
|
|
CITIGROUP INC |
|
|
|
181,847 |
|
|
|
425,000 |
|
|
CITIGROUP INC |
|
|
|
444,935 |
|
|
|
550,000 |
|
|
CITIGROUP INC |
|
|
|
530,213 |
|
|
|
290,000 |
|
|
CITIGROUP INC |
|
|
|
282,186 |
|
|
|
555,000 |
|
|
CITIGROUP INC |
|
|
|
554,787 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
Stable Value Fund (continued) |
|
|
|
|
|
||||
|
2,792,394 |
|
|
CITIGROUP MTG LN TR |
|
|
|
$ |
2,676,249 |
|
|
1,262,133 |
|
|
CITIMORTGAGE ALTERNATIVE LN TR |
|
|
|
850,757 |
|
|
|
155,000 |
|
|
CLOROX CO |
|
|
|
166,650 |
|
|
|
415,000 |
|
|
COBALT CMBS COML MTG TR |
|
|
|
339,716 |
|
|
|
500,000 |
|
|
COCA COLA ENTERPRISES INC |
|
|
|
503,960 |
|
|
|
1,845,000 |
|
|
COMCAST CABLE COMMUNICATIONS |
|
|
|
1,947,152 |
|
|
|
470,000 |
|
|
COMCAST CORP |
|
|
|
526,566 |
|
|
|
210,000 |
|
|
COMCAST CORP NEW |
|
|
|
226,153 |
|
|
|
480,361 |
|
|
COMM |
|
|
|
483,189 |
|
|
|
187,919 |
|
|
COMMERCIAL MTG ASSET TR |
|
|
|
188,221 |
|
|
|
320,000 |
|
|
COMMONWEALTH BANK AUST |
|
|
|
320,778 |
|
|
|
850,000 |
|
|
COUNTRYWIDE FINL CORP |
|
|
|
902,284 |
|
|
|
129,439 |
|
|
COUNTRYWIDE HOME LOANS |
|
|
|
129,151 |
|
|
|
1,000,000 |
|
|
CREDIT SUISSE COML MTG TR |
|
|
|
834,215 |
|
|
|
675,000 |
|
|
CREDIT SUISSE COML MTG TR |
|
|
|
510,412 |
|
|
|
755,000 |
|
|
CREDIT SUISSE FIRST BOSTON |
|
|
|
805,158 |
|
|
|
305,344 |
|
|
CREDIT SUISSE FIRST BOSTON |
|
|
|
21,456 |
|
|
|
327,594 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
181,569 |
|
|
|
72,803 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
50,972 |
|
|
|
1,280,000 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
1,339,529 |
|
|
|
1,540,000 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
1,579,854 |
|
|
|
121,741 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
121,991 |
|
|
|
990,000 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
1,022,876 |
|
|
|
505,000 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
509,441 |
|
|
|
1,150,000 |
|
|
CREDIT SUISSE FIRST BOSTON MTG |
|
|
|
1,164,546 |
|
|
|
274,680 |
|
|
CSMC MORTGAGE BACKED TR 2006 8 |
|
|
|
183,134 |
|
|
|
615,000 |
|
|
CVS CAREMARK CORP |
|
|
|
649,080 |
|
|
|
125,000 |
|
|
CVS CAREMARK CORP |
|
|
|
136,786 |
|
|
|
125,225 |
|
|
CWABS INC |
|
|
|
91,526 |
|
|
|
227,021 |
|
|
CWABS INC |
|
|
|
115,884 |
|
|
|
0.05 |
|
|
CWABS INC |
|
|
|
– |
|
|
|
212,640 |
|
|
CWABS INC |
|
|
|
201,737 |
|
|
|
12,862 |
|
|
CWABS INC |
|
|
|
7,421 |
|
|
|
668,805 |
|
|
CWABS TR |
|
|
|
629,180 |
|
|
|
73,992 |
|
|
CWALT INC |
|
|
|
72,749 |
|
|
|
51,832 |
|
|
CWALT INC |
|
|
|
46,004 |
|
|
|
99,076 |
|
|
CWALT INC |
|
|
|
85,620 |
|
|
Target Corporation 401(k) Plan
EIN: 41-0215170 Plan Number: 002
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) (continued)
|
|
|
|
|
Contract |
|
|
|
||
|
|
|
|
|
Issuer |
|
Investments |
|
||
|
Face Amount or Number of |
|
Identity of Issue and |
|
Moody’s/ |
|
at Current |
|
||
|
Shares/Units |
|
Description of Investment |
|
S&P Rating |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
Stable Value Fund (continued) |
|
|
|
|
|
||||
|
514,258 |
|
|
CWALT INC |
|
|
|
$ |
280,927 |
|
|
367,886 |
|
|
CWMBS INC |
|
|
|
356,249 |
|
|
|
153,401 |
|
|
CWMBS INC |
|
|
|
100,946 |
|
|
|
700,000 |
|
|
DAIMLERCHRYSLER NTH AMER HLDG |
|
|
|
735,288 |
|
|
|
2,245,000 |
|
|
DANSKE BANK A S |
|
|
|
2,282,664 |
|
|
|
310,000 |
|
|
DCP MIDSTREAN LLC |
|
|
|
381,441 |
|
|
|
350,000 |
|
|
DEERE JOHN CAP CORP MTN BK ENT |
|
|
|
350,065 |
|
|
|
800,000 |
|
|
DEERE JOHN CAP CORP MTN BK ENT |
|
|
|
802,059 |
|
|
|
145,000 |
|
|
DEVON FING CORP U L C |
|
|
|
157,516 |
|
|
|
2,825,000 |
|
|
DEXIA CREDIT LOCAL |
|
|
|
2,883,003 |
|
|
|
225,000 |
|
|
DIAGEO CAP PLC |
|
|
|
240,875 |
|
|
|
135,000 |
|
|
DIAMOND OFFSHORE DRILL |
|
|
|
143,807 |
|
|
|
240,000 |
|
|
DISCOVER BANK |
|
|
|
239,155 |
|
|
|
620,945 |
|
|
DLJ COML MTG CORP |
|
|
|
632,519 |
|
|
|
45,000 |
|
|
DU PONT E I DE NEMOURS + CO |
|
|
|
48,192 |
|
|
|
250,000 |
|
|
DUKE ENERGY CAROLINAS LLC |
|
|
|
261,772 |
|
|
|
60,000 |
|||||||||