FORM 11-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
þ |
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED] |
FOR THE FISCAL YEAR ENDED
DECEMBER 31, 2008
o |
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] |
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER 1-12001
401(K) SAVINGS ACCOUNT PLAN FOR EMPLOYEES
OF THE WASHINGTON PLATE PLANT
(Title of Plan)
ALLEGHENY TECHNOLOGIES INCORPORATED
(Name of Issuer of securities held pursuant to the Plan)
1000 Six PPG Place, Pittsburgh, Pennsylvania 15222-5479
(Address of Plan and principal executive offices of Issuer)
Audited Financial Statements and Supplemental Schedule
401(k) Savings Account Plan for Employees of the Washington Plate Plant
Years Ended December 31, 2008 and 2007
With Report of Independent Registered Public Accounting Firm
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Audited Financial Statements
and Supplemental Schedule
Years Ended December 31, 2008 and 2007
Contents
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1 |
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Audited Financial Statements |
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2 |
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3 |
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4 |
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Supplemental Schedule |
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12 |
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EX-23.1 |
Report of Independent Registered Public Accounting Firm
Allegheny Technologies Incorporated
We have audited the accompanying statements of net assets available for benefits of the 401(k)
Savings Account Plan for Employees of the Washington Plate Plant as of December 31, 2008 and 2007,
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 Plans 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 Plans 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 Plans 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, 2008 and 2007, 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, 2008 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 Labors
Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security
Act of 1974. This supplemental schedule is the responsibility of the Plans 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.
/s/ Ernst & Young LLP
Pittsburgh, Pennsylvania
June 25, 2009
1
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Statements of Net Assets Available for Benefits
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December 31 |
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2008 |
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2007 |
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Investments at fair value: |
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Interest in synthetic investment contracts |
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$ |
3,158,833 |
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$ |
3,107,324 |
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Interest in common collective trusts |
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1,946,108 |
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1,874,446 |
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Interest in registered investment companies |
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1,149,894 |
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2,144,288 |
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Corporate common stock |
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319,755 |
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469,725 |
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Interest-bearing cash and cash equivalents |
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276,703 |
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163,404 |
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Participant loans |
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188,051 |
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132,089 |
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Net assets available reflecting investments at fair value |
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7,039,344 |
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7,891,276 |
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Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
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205,441 |
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11,123 |
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Net assets available for benefits |
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$ |
7,244,785 |
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$ |
7,902,399 |
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See accompanying notes.
2
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Statements of Changes in Net Assets Available for Benefits
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Years Ended December 31 |
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2008 |
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2007 |
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Contributions: |
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Employer |
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$ |
284,958 |
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$ |
283,866 |
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Employee |
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920,708 |
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1,062,509 |
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Total contributions |
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1,205,666 |
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1,346,375 |
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Investment income (loss): |
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Net gain (loss) from interest in registered investment
companies |
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(706,815 |
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101,251 |
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Net gain (loss) from interest in common collective trusts |
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(687,051 |
) |
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8,169 |
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Net realized/unrealized loss on corporate common
stock |
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(351,346 |
) |
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(5,072 |
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Interest income |
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68,437 |
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33,790 |
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Dividend income |
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1,515 |
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Net gain from interest in Allegheny Master Trust |
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175,442 |
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Other income |
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90,229 |
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28,469 |
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Total investment income (loss) |
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(1,586,546 |
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343,564 |
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(380,880 |
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1,689,939 |
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Distributions to participants |
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(276,734 |
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(922,955 |
) |
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Net increase (decrease) in net assets available for benefits |
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(657,614 |
) |
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766,984 |
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Net assets available for benefits at beginning of year |
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7,902,399 |
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7,135,415 |
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Net assets available for benefits at end of year |
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$ |
7,244,785 |
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$ |
7,902,399 |
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See accompanying notes.
3
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements
December 31, 2008
1. Significant Accounting Policies
Use of Estimates and Basis of Accounting
The preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from those estimates.
The financial statements are prepared under the accrual basis of accounting.
Investment Valuation
Investments are reported at fair value. As described in Financial Accounting Standards Board Staff
Position (FSP) AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment
Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and
Defined-Contribution Health and Welfare and Pension Plans, fully benefit-responsive investment
contracts held by a defined contribution plan are required to be reported at fair value in the
Plans Statement of Net Assets Available for Benefits with a corresponding adjustment to reflect
these investments at contract value.
2. Description of the Plan
The 401(k) Savings Account Plan for Employees of the Washington Plate Plant (the Plan) is a defined
contribution plan and is subject to the provisions of the Employee Retirement Income Security Act
of 1974 (ERISA).
The purpose of the Plan is to encourage thrift and to assist represented employees of the
Washington Plate facility of Allegheny Ludlum Corporation (the Company) in accumulating a fund to
supplement retirement income by allowing eligible employees to make tax-deferred contributions to
the Plan. Allegheny Ludlum Corporation is a wholly owned subsidiary of Allegheny Technologies
Incorporated (ATI, the Plan Sponsor).
The Plan allows employees to contribute a portion of eligible wages each pay period through payroll
deductions subject to Internal Revenue Code limitations. In addition, the employees annual pretax
profit sharing award and pretax Longevity Incentive Payment Plan award may be contributed at the
employees discretion. The Company contributes $0.50 for each hour worked per eligible represented
employee. Unless otherwise specified by the participant, employer contributions are made to the
Standish Mellon Stable Value Fund. Such contributions are made only from current income or
accumulated earnings of the Company. The Plan allows participants to direct their contributions,
and contributions made on their behalf, to any of the investment alternatives.
4
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
2. Description of the Plan (continued)
Separate accounts are maintained by the Plan Sponsor for each participating employee. Trustee fees
and asset management fees charged by the Plans trustees, Mellon Bank, N.A., prior to September 1,
2007 and thereafter Mercer Trust Company, for the administration of all funds are charged against
net assets available for benefits of the respective fund. Certain other expenses of administering
the Plan are paid by the Plan Sponsor. Participants may make in-service and hardship withdrawals
as outlined in the plan document. Participants are fully vested in their entire participant
account.
Active employees can borrow up to 50% of their vested account balances minus any outstanding loans.
The loan amounts are further limited to a minimum of $500 and a maximum of $50,000, and an employee
can obtain no more than three loans at one time. Interest rates are determined based on
commercially accepted criteria, and payment schedules vary based on the type of the loan. General
purpose loans are repaid over 6 to 60 months, and primary residence loans are repaid over periods
up to 180 months. Payments are made by payroll deductions.
Further information about the Plan, including eligibility, vesting, contributions, and withdrawals,
is contained in the plan documents, summary plan description, and related contracts. These
documents are available from the Plan Sponsor.
3. Investments
Prior to September 1, 2007, certain of the Plans investments were in the Allegheny Master Trust,
which had three separately managed institutional investment accounts|: the T. Rowe Price Structured
Research Common Trust Fund, the Alliance Capital Growth Pool, and the Standish Mellon Fixed Income
Fund, which were valued on a unitized basis (collectively, the Allegheny Master Trust).
On September 1, 2007, as part of a change in the administration of the Plan, including changing the
record keeper to Mercer Human Resources from Affiliated Computer Services, Inc., and changing the
trustee to Mercer Trust Company from Mellon Bank, N.A., the investment options available to
participants under the Plan were changed. Additionally, the Plan liquidated its investment in the
Allegheny Master Trust. The Standish Mellon Fixed Income Fund was renamed the Standish Mellon
Stable Value Fund.
The Plan retained the Standish Mellon Fixed Income Fund, renamed as the Standish Mellon Stable
Value Fund (the Fund), as an investment option in a separate account subsequent to liquidating the
Plans interest in the Allegheny Master Trust. The Fund invests in guaranteed investment contracts
(GICs) and actively managed structured or synthetic investment contracts (SICs). The GICs are
promises by a bank or insurance company to repay principal plus a fixed
5
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
3. Investments (continued)
rate of return through contract maturity. SICs differ from GICs in that there are specific assets
supporting the SICs and these assets are owned by the Plan. The bank or insurance company issues a
wrapper contract that allows participant-directed transactions to be made at contract value. The
assets supporting the SICs are comprised of government agency bonds, corporate bonds, asset-backed
securities (ABOs), collateralized mortgage obligations (CMOs), and common/collective trusts.
Interest crediting rates on the GICs in the Fund are determined at the time of purchase. Interest
crediting rates on the SICs are either: (1) set at the time of purchase for a fixed term and
crediting rate, (2) set at the time of purchase for a fixed term and variable crediting rate, or
(3) set at the time of purchase and reset monthly within a constant duration. A constant duration
contract may specify a duration of 2.5 years and the crediting rate is adjusted monthly based upon
quarterly rebalancing of eligible 2.5 year duration investment instruments at the time of each
resetting; in effect the contract never matures. At December 31, 2008 and 2007, the interest
crediting rates for Fixed Maturity SICs ranged from 4.12% to 5.04% and 4.30% to 5.32%,
respectively.
Average yields for all fully benefit-responsive investment contracts for the years ended December
31, 2008 and 2007 were as follows:
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Years Ended December 31 |
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2008 |
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2007 |
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Average yields: |
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Based on actual earnings |
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4.67 |
% |
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4.72 |
% |
Based on interest rate credited to participants |
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4.56 |
% |
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4.57 |
% |
Although it is managements intention to hold the investment contracts in the Standish Mellon
Stable Value Fund until maturity, certain investment contracts provide for adjustments to contract
value for withdrawals made prior to maturity.
6
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
3. Investments (continued)
The following presents investments that represent 5% or more of the Plans net assets:
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December 31 |
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2008 |
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2007 |
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Barclays Global Investors Asset-Backed Securities Index
Fund** |
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$ |
581,831 |
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$ |
564,645 |
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Barclays Global Investors Intermediate Term Credit Bond
Index Fund** |
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529,489 |
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|
479,591 |
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Barclays Global Investors Mortgage-Backed Securities
Index Fund** |
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436,788 |
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|
|
386,596 |
|
State Street Global Advisors S&P500 Flagship SL Fund |
|
|
432,336 |
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|
746,524 |
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State Street Global Advisors Target Retirement Income
2020 SL Series Fund* |
|
|
381,645 |
|
|
|
245,023 |
|
Allegheny Technologies Incorporated common stock*** |
|
|
319,755 |
|
|
|
469,725 |
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American Funds Growth Fund of America*** |
|
|
264,556 |
|
|
|
501,712 |
|
MSIF Small Company Growth Fund*** |
|
|
249,160 |
|
|
|
501,304 |
|
Alliance Bernstein Small Mid Cap Value Fund*** |
|
|
205,831 |
|
|
|
506,139 |
|
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* |
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Prior year presented for comparative purposes only |
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** |
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Held within SICs |
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*** |
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Current year presented for comparative purposes only |
Investments in SICs at contract value that represent 5% of more of the Plans net assets were as
follows:
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December 31 |
|
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2008 |
|
2007 |
|
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|
Monumental Life Ins. Co. Constant Duration SIC |
|
$ |
892,881 |
|
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$ |
753,179 |
|
Rabobank Constant Duration SIC |
|
|
871,773 |
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|
|
766,082 |
|
State Street Bank Constant Duration SIC |
|
|
480,839 |
|
|
|
405,544 |
|
Bank of America Fixed Maturity SIC* |
|
|
441,396 |
|
|
|
363,942 |
|
State Street Fixed Maturity SIC* |
|
|
366,079 |
|
|
|
294,871 |
|
Union Bank of Switzerland Fixed Maturity SIC |
|
|
|
|
|
|
524,147 |
|
|
|
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* |
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Prior year presented for comparative purposes only |
7
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
4. Fair Value Measurements
The Plan adopted FASB Statement No. 157, Fair Value Measurements (FAS 157), as required, on
January 1, 2008. This standard clarifies the definition of fair value for financial reporting,
establishes a framework for measuring fair value, and requires additional disclosures about the use
of fair value measurements. Specifically, FAS 157:
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Defines fair value as the price that would be received to sell an asset or paid to transfer
a liability in an orderly transaction between market participants at the measurement date, and
establishes a framework for measuring fair value; |
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Establishes a three-level hierarchy for fair value measurements based upon the transparency
of inputs to the valuation of an asset or liability as of the measurement date; |
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Eliminates large position discounts for financial instruments quoted in active markets; and |
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Expands disclosures about instruments measured at fair value. |
Determination of Fair Value
Following is a description of the Plans valuation methodologies for assets and liabilities
measured at fair value. Such valuation methodologies were applied to all of the assets and
liabilities carried at fair value effective January 1, 2008. Fair value is based upon quoted market
prices, where available. If listed prices or quotes are not available, fair value is based upon
models that primarily use, as inputs, market-based or independently-sourced market parameters,
including yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates
and credit curves. In addition to market information, models may also incorporate transaction
details, such as maturity. Valuation adjustments, such as liquidity valuation adjustments, may be
necessary when the Plan is unable to observe a recent market price for a financial instrument that
trades in inactive (or less active) markets. Liquidity adjustments are not taken for positions
classified within level 1 (as defined below) of the fair value hierarchy.
The methods described above may produce a fair value calculation that may not be indicative of net
realizable value or reflective of future fair values. Furthermore, while the Plan believes its
valuation methods are appropriate and consistent with other market participants, the use of
different methodologies or assumptions to determine the fair value of certain financial instruments
could result in a different estimate of fair value at the reporting date.
8
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
Valuation Hierarchy
FAS 157 established a three-level valuation hierarchy for disclosure of fair value measurements.
The valuation hierarchy is based upon the transparency of the inputs to the valuation of an asset
or liability as of the measurement date. The three levels are defined as follows:
Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets
and liabilities in active markets.
Level 2 inputs to the valuation methodology include quoted prices for similar assets and
liabilities in active markets, and inputs that are observable for the asset or liability, either
directly or indirectly, for substantially the full term of the financial instrument.
Level 3 inputs to the valuation methodology are unobservable and significant to the valuation
measurement.
A financial instruments categorization within the valuation hierarchy is based upon the lowest
level of input that is significant to the fair value measurement.
Valuation Methodologies
The valuation methodologies used for assets and liabilities measured at fair value, including their
general classification based on the fair value hierarchy, includes the following:
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Cash and cash equivalents where the Net Asset Value (NAV) is a quoted price in a market
that is active, it is classified within level 1 of the valuation hierarchy. In certain cases
NAV is a quoted price in a market that is not active, or is based on quoted prices for similar
assets and liabilities in active markets, and these investments are classified within level 2
of the valuation hierarchy. |
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Corporate common stocks are valued at the closing price reported on the major market on
which the individual securities are traded. Substantially all other common stock is classified
within level 1 of the valuation hierarchy. |
9
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
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Common/collective trust funds these investments are public investment vehicles valued
using the NAV provided by the administrator of the fund. The NAV is based on the value of the
underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in a market that is not active and classified
within level 2 of the valuation hierarchy. |
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|
Registered investment companies these investments are public investment vehicles valued
using the NAV provided by the administrator of the fund. The NAV is based on the value of the
underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. Where the NAV is a quoted price in a market that is active, it is
classified within level 1 of the valuation hierarchy. In certain cases NAV is a quoted price
in a market that is not active, or is based on quoted prices for similar assets and
liabilities in active markets, and these investments are classified within level 2 of the
valuation hierarchy. |
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Corporate debt instruments, U.S. government and federal agency obligations, U.S.
government-sponsored entity obligations, and other where quoted prices are available in an
active market, the investments are classified within level 1 of the valuation hierarchy. If
quoted market prices are not available for the specific security, then fair values are
estimated by using pricing models, quoted prices of securities with similar characteristics or
discounted cash flows. When quoted market prices for the specific security are not available
in an active market, they are classified within level 2 of the valuation hierarchy. |
|
|
|
Synthetic investment contracts fair value is based on the underlying investments. The
underlying investments include government agency bonds, corporate bonds, ABOs, CMOs, and
common/collective trusts. Because inputs to the valuation methodology include quoted prices
for similar assets and liabilities in active markets, or in the case of common/collective
trusts the NAV is a quoted price in a market that is not active, synthetic investment
contracts are classified within level 2 of the valuation hierarchy. |
|
|
|
Loans to plan participants valued at cost plus accrued interest, which approximates fair
value and are classified within level 2 of the valuation hierarchy. |
The following table presents the financial instruments carried at fair value as of December 31,
2008, by caption on the statement of net assets available for benefits and by FAS 157 valuation
hierarchy (as described above). The Plan had no assets classified within level 3 of the valuation
hierarchy.
10
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
Assets measured at fair value on a recurring basis:
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|
|
|
|
|
|
|
|
December 31, 2008 |
|
Level 1 |
|
Level 2 |
|
Total |
|
|
|
Interest in synthetic investment contracts |
|
$ |
|
|
|
$ |
3,158,833 |
|
|
$ |
3,158,833 |
|
Interest in registered investment companies |
|
|
1,149,894 |
|
|
|
|
|
|
|
1,149,894 |
|
Interest in common collective trusts |
|
|
|
|
|
|
1,946,108 |
|
|
|
1,946,108 |
|
Corporate common stock |
|
|
319,755 |
|
|
|
|
|
|
|
319,755 |
|
Interest-bearing cash and cash equivalents |
|
|
215,250 |
|
|
|
61,453 |
|
|
|
276,703 |
|
Participant loans |
|
|
|
|
|
|
188,051 |
|
|
|
188,051 |
|
|
|
|
Total assets at fair value |
|
$ |
1,684,899 |
|
|
$ |
5,354,445 |
|
|
$ |
7,039,344 |
|
|
|
|
5. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service dated July 12, 2003,
stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the Code)
and, therefore, the related trust is exempt from taxation. Subsequent to this issuance of the
determination letter, the Plan was amended. Once qualified, the Plan is required to operate in
conformity with the Code to maintain its qualification. The plan administrator believes the Plan is
being operated in compliance with the applicable requirements of the Code and, therefore, believes
the Plan, as amended, is qualified and the related trust is tax-exempt.
6. Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to
discontinue its contributions at any time and to terminate the Plan subject to the provisions of
ERISA. However, no such action may deprive any participant or beneficiary under the Plan of any
vested right.
7. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various
risk such as interest rate, market and credit risks. Due to the level of risk associated with
certain investment securities, it is at least reasonably possible that changes in the values of
investment securities will occur in the near term and that such changes could materially affect
participants account balances and the amounts reported in the statements of net assets available
for benefits.
11
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
EIN: 25-1792394 Plan Number: 020
Schedule H, Line 4iSchedule of Assets
(Held at End of Year)
December 31, 2008
|
|
|
|
|
Description |
|
Current Value |
|
|
Registered Investment Companies |
|
|
|
|
Alliance Bernstein Small Mid Cap Value Fund |
|
$ |
205,831 |
|
American Funds Europacific Growth Fund |
|
|
171,739 |
|
American Funds Growth Fund of America |
|
|
264,556 |
|
MFS Value Fund |
|
|
80,817 |
|
Lord Abbott Mid Cap Value Fund |
|
|
97,938 |
|
MSIF Small Company Growth Fund |
|
|
249,160 |
|
Western Asset Core Plus Bond Fund |
|
|
79,853 |
|
|
|
|
|
Total registered investment companies |
|
$ |
1,149,894 |
|
|
|
|
|
|
|
|
|
|
Corporate Common Stock |
|
|
|
|
Allegheny Technologies Incorporated* |
|
$ |
319,755 |
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Cash |
|
|
|
|
Mellon Trust of New England TIF Fund |
|
$ |
215,250 |
|
Natixis Financial |
|
|
61,453 |
|
Adjustment from fair value to current value |
|
|
(421 |
) |
|
|
|
|
|
|
$ |
276,282 |
|
|
|
|
|
|
|
|
|
|
Common Collective Trusts |
|
|
|
|
Mellon Stable Value Fund |
|
$ |
69,999 |
|
Adjustment from fair value to current value |
|
|
3,292 |
|
State Street Global Advisors Target Retirement Income SL Series Fund |
|
|
62,791 |
|
State Street Global Advisors Target Retirement Income 2010 SL Series Fund |
|
|
104,459 |
|
State Street Global Advisors Target Retirement Income 2015 SL Series Fund |
|
|
329,687 |
|
State Street Global Advisors Target Retirement Income 2020 SL Series Fund |
|
|
381,645 |
|
State Street Global Advisors Target Retirement Income 2025 SL Series Fund |
|
|
353,513 |
|
State Street Global Advisors Target Retirement Income 2030 SL Series Fund |
|
|
118,678 |
|
State Street Global Advisors Target Retirement Income 2035 SL Series Fund |
|
|
70,160 |
|
State Street Global Advisors Target Retirement Income 2040 SL Series Fund |
|
|
14,233 |
|
State Street Global Advisors Target Retirement Income 2045 SL Series Fund |
|
|
8,551 |
|
State Street Global Advisors S&P 500 Flagship SL Fund |
|
|
432,336 |
|
State Street
Global Advisors MSCI ACWI Ex-US Index SL Series Fund |
|
|
56 |
|
|
|
|
|
|
|
$ |
1,949,400 |
|
|
|
|
|
12
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
EIN: 25-1792394 Plan Number: 020
Schedule H, Line 4iSchedule of Assets
(Held at End of Year)
December 31, 2008
|
|
|
|
|
Description |
|
Current Value |
|
|
Fixed Maturity Synthetic Contracts: |
|
|
|
|
CMBS, BACM 2002-2 A3 |
|
$ |
27,956 |
|
CMBS, BACM 2005-3 A3A |
|
|
30,544 |
|
Fannie Mae, FNR 2002-74 LC |
|
|
2,302 |
|
Freddie Mac, FHR 2627 BU |
|
|
51,201 |
|
Freddie Mac, FHR 2640 TL |
|
|
25,778 |
|
Freddie Mac, FHR 2715 ND |
|
|
32,770 |
|
Freddie Mac, FHR 2760 EB |
|
|
29,488 |
|
Freddie Mac, FHR 2786 PC |
|
|
15,257 |
|
Freddie Mac, FHR 2865 PQ |
|
|
45,366 |
|
Freddie Mac, FHR 2866 XD |
|
|
45,474 |
|
Freddie Mac, FHR 2870 BD |
|
|
30,571 |
|
Freddie Mac, FHR 2888 OW |
|
|
21,549 |
|
GNMA Project Loans, GNR 06-51 A |
|
|
33,802 |
|
Auto Valet 2008-2 A3A |
|
|
44,784 |
|
Bank of America, N.A. Wrap contract |
|
|
4,554 |
|
|
|
|
|
Bank of America, N.A. Fixed Maturity Synthetic Contract 03-040 |
|
|
441,396 |
|
|
|
|
|
|
Auto, BASAT 06-G1 A4 |
|
|
44,178 |
|
CMBS, CDCMT 2002-FX1D1895488.82 |
|
|
28,426 |
|
Rate Redu
Bonds, CNP 05-1 A2 |
|
|
45,056 |
|
Freddie Mac, FHR 2631 LB |
|
|
20,633 |
|
Freddie Mac, FHR 2681 PC |
|
|
39,143 |
|
Freddie Mac, FHR 2778 KR |
|
|
15,227 |
|
Freddie Mac, FHR 2981 NB |
|
|
35,191 |
|
Freddie Mac, FHR 2891 NB |
|
|
30,728 |
|
CMBS, MLMT 05-CIP1 A2 |
|
|
54,937 |
|
CMBS, MLMT 05-CKI1 A2 |
|
|
27,225 |
|
CMBS, CD05-CD1 A2 FX |
|
|
13,748 |
|
State Street Bank Wrap contract |
|
|
11,587 |
|
|
|
|
|
State Street Bank Fixed Maturity Synthetic Contract 105028 |
|
|
366,079 |
|
|
|
|
|
|
CMBS, BSCMS 05-T18 A2 |
|
|
21,330 |
|
CMBS, BSCMS 99-WF2 A2 |
|
|
19,420 |
|
CMBS, BSCMS 03-T12 A2 |
|
|
3,006 |
|
Freddie Mac, FHR 2663 ML |
|
|
53,232 |
|
Freddie Mac, FHR 2763 PC |
|
|
40,028 |
|
Freddie Mac, FHR 2921 NV |
|
|
22,755 |
|
13
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
EIN: 25-1792394 Plan Number: 020
Schedule H, Line 4iSchedule of Assets
(Held at End of Year)
December 31, 2008
|
|
|
|
|
Description |
|
Current Value |
|
|
Freddie Mac, FHR 2934 OC |
|
|
30,773 |
|
CMBS, HFCMC 99-PH1 A2 |
|
|
2,951 |
|
CMBS, JPMCC 05-LDP2 A2 |
|
|
27,619 |
|
CMBS, MSC 99-CAM1 A4 |
|
|
838 |
|
Auto, NALT 06-A A4 |
|
|
59,550 |
|
Auto, VWALT 06-A A4 |
|
|
22,528 |
|
Natixis Financial Products Wrap contract |
|
|
4,405 |
|
|
|
|
|
Natixis Financial Products Fixed Maturity Synthetic Contract #1245-01 |
|
|
308,435 |
|
|
|
|
|
Total Fixed Maturity Synthetic Contracts |
|
$ |
1,115,910 |
|
|
|
|
|
|
|
|
|
|
Constant Duration Synthetic Contracts: |
|
|
|
|
Barclays Global Investors, 1-3 Year Government Bond Index Fund |
|
$ |
33,811 |
|
Barclays Global Investors, Asset-Backed Sec Index Fund |
|
|
231,563 |
|
Barclays Global Investors, Comm Mortgage-Backed Sec Fund |
|
|
70,421 |
|
Barclays Global Investors, Int Term Credit Bond Index Fund |
|
|
210,740 |
|
Barclays Global Investors, Int Term Government Bond Index Fund |
|
|
81,094 |
|
Barclays Global Investors, Long Term Government Bond Index Fund |
|
|
19,791 |
|
Barclays Global Investors, Mortgage-Backed Sec Index Fund |
|
|
173,845 |
|
Monumental Life Ins. Co. Wrap contract |
|
|
71,616 |
|
|
|
|
|
Monumental Life Ins. Co. Constant Duration Synthetic Contract MDA00413TR |
|
|
892,881 |
|
|
|
|
|
|
Barclays Global Investors, 1-3 Year Government Bond Index Fund |
|
|
32,934 |
|
Barclays Global Investors, Asset-Backed Sec Index Fund |
|
|
225,581 |
|
Barclays Global Investors, Comm Mortgage-Backed Sec Fund |
|
|
68,594 |
|
Barclays Global Investors, Int Term Credit Bond Index Fund |
|
|
205,273 |
|
Barclays Global Investors, Int Term Government Bond Index Fund |
|
|
78,990 |
|
Barclays Global Investors, Long Term Government Bond Index Fund |
|
|
19,278 |
|
Barclays Global Investors, Mortgage-Backed Sec Index Fund |
|
|
169,334 |
|
Rabobank Wrap contract |
|
|
71,789 |
|
|
|
|
|
Rabobank Constant Duration Synthetic Contract ATI060301 |
|
|
871,773 |
|
|
|
|
|
|
Barclays Global Investors, 1-3 Year Government Bond Index Fund |
|
|
18,206 |
|
Barclays Global Investors, Asset-Backed Sec Index Fund |
|
|
124,687 |
|
Barclays Global Investors, Comm Mortgage-Backed Sec Fund |
|
|
37,919 |
|
Barclays Global Investors, Int Term Credit Bond Index Fund |
|
|
113,476 |
|
Barclays Global Investors, Int Term Government Bond Index Fund |
|
|
43,666 |
|
Barclays Global Investors, Long Term Government Bond Index Fund |
|
|
10,657 |
|
Barclays Global Investors, Mortgage-Backed Sec Index Fund |
|
|
93,609 |
|
14
401(k) Savings Account Plan for Employees
of the Washington Plate Plant
EIN: 25-1792394 Plan Number: 020
Schedule H, Line 4iSchedule of Assets
(Held at End of Year)
December 31, 2008
|
|
|
|
|
Description |
|
Current Value |
|
|
State Street Bank Wrap contract |
|
|
38,619 |
|
|
|
|
|
State Street Bank Constant Duration Synthetic Contract 107073 |
|
|
480,839 |
|
|
|
|
|
Total Constant Duration Synthetic Contracts |
|
$ |
2,245,493 |
|
|
|
|
|
|
|
|
|
|
Participant loans* (5.00% to 9.25%, with maturities through 2013) |
|
$ |
188,051 |
|
|
|
|
|
15
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the Plan
have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
|
|
|
|
|
|
|
|
|
ALLEGHENY TECHNOLOGIES INCORPORATED |
|
|
|
|
401(K) SAVINGS ACCOUNT FOR
EMPLOYEES OF THE WASHINGTON
PLATE PLANT |
|
|
|
|
|
|
|
|
|
Date: June 25, 2009 |
|
By:
|
|
/s/ Dale G. Reid |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dale G. Reid |
|
|
|
|
|
|
Vice President-Controller, Chief Accounting
Officer and Treasurer |
|
|
|
|
|
|
(Principal Accounting Officer and Duly
Authorized Officer) |
|
|
16