SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 11-K
x | ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the year ended December 31, 2013
OR
¨ | TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 1-4448
A. | Full title of the plan and the address of the plan, if different from that of the issuer named below: |
Baxter Healthcare of Puerto Rico Savings and Investment Plan
B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
Baxter International Inc.
One Baxter Parkway
Deerfield, IL 60015
(224) 948-2000
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Financial Statements and Supplemental Schedule
December 31, 2013 and 2012
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
December 31, 2013 and 2012
Page(s) | ||||
1 | ||||
Financial Statements |
||||
Statements of Net Assets Available for Benefits as of December 31, 2013 and 2012 |
2 | |||
3 | ||||
4-15 | ||||
Supplemental Information |
||||
Schedule H, Line 4i: Schedule of Assets (Held at End of Year) as of December 31, 2013 |
16-36 |
Report of Independent Registered Public Accounting Firm
To the Participants and Administrative Committee of
the Baxter Healthcare of Puerto Rico Savings and Investment Plan
Deerfield, Illinois
We have audited the accompanying statements of net assets available for benefits of the Baxter Healthcare of Puerto Rico Savings and Investment Plan (the Plan) as of December 31, 2013 and 2012, 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. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2013 and 2012, and the changes in net assets available for benefits for the years then ended in conformity with U.S. generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule H, Line 4i - Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic 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. The supplemental schedule is the responsibility of the Plans management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic 2013 financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic 2013 financial statements taken as a whole.
/s/ Crowe Horwath LLP
Oak Brook, Illinois
June 25, 2014
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Statements of Net Assets Available for Benefits
December 31, 2013 and 2012 (in thousands)
2013 | 2012 | |||||||
Assets |
||||||||
Investments |
||||||||
Cash and cash equivalents |
$ | 672 | $ | 910 | ||||
Common stock (including securities on loan of $26 in 2013 and $36 in 2012) |
10,984 | 9,953 | ||||||
U.S. government and government agency issues (including securities on loan of $71 in 2013 and $104 in 2012) |
418 | 363 | ||||||
Corporate and other obligations (including securities on loan of $87 in 2013 and $97 in 2012) |
511 | 517 | ||||||
Commingled funds |
15,625 | 7,886 | ||||||
Synthetic guaranteed investment contracts |
20,329 | 20,200 | ||||||
Registered investment companies |
| 2,703 | ||||||
Collateral held on loaned securities |
188 | 242 | ||||||
|
|
|
|
|||||
Total investments at fair value |
48,727 | 42,774 | ||||||
|
|
|
|
|||||
Receivables |
||||||||
Note receivables from participants |
4,073 | 3,807 | ||||||
Sponsor contributions |
540 | 399 | ||||||
Accrued interest and dividends |
66 | 58 | ||||||
Due from brokers for securities sold |
9 | 16 | ||||||
|
|
|
|
|||||
Total receivables |
4,688 | 4,280 | ||||||
|
|
|
|
|||||
Total assets |
53,415 | 47,054 | ||||||
|
|
|
|
|||||
Liabilities |
||||||||
Accounts payable |
424 | 362 | ||||||
Collateral to be paid on loaned securities |
188 | 242 | ||||||
|
|
|
|
|||||
Total liabilities |
612 | 604 | ||||||
|
|
|
|
|||||
Net assets available for benefits, reflecting investments at fair value |
52,803 | 46,450 | ||||||
Adjustment from fair value to contract value for fully benefit-responsive investment contracts |
(1,023 | ) | (1,785 | ) | ||||
|
|
|
|
|||||
Net assets available for benefits |
$ | 51,780 | $ | 44,665 | ||||
|
|
|
|
The accompanying notes are an integral part of these financial statements.
2
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2013 and 2012 (in thousands)
2013 | 2012 | |||||||
Additions to net assets attributed to |
||||||||
Investment income |
||||||||
Net appreciation in fair value of investments |
$ | 4,544 | $ | 3,706 | ||||
Interest |
645 | 703 | ||||||
Dividends |
247 | 285 | ||||||
|
|
|
|
|||||
Net investment income |
5,436 | 4,694 | ||||||
|
|
|
|
|||||
Participant loan interest |
156 | 148 | ||||||
Contributions |
||||||||
Sponsor |
2,011 | 1,802 | ||||||
Participant |
3,281 | 3,160 | ||||||
|
|
|
|
|||||
5,292 | 4,962 | |||||||
|
|
|
|
|||||
Total additions |
10,884 | 9,804 | ||||||
|
|
|
|
|||||
Deductions from net assets attributed to |
||||||||
Benefits paid |
3,346 | 3,951 | ||||||
Plan expenses |
423 | 390 | ||||||
|
|
|
|
|||||
Total deductions |
3,769 | 4,341 | ||||||
|
|
|
|
|||||
Net increase |
7,115 | 5,463 | ||||||
Net assets available for benefits |
||||||||
Beginning of year |
44,665 | 39,202 | ||||||
|
|
|
|
|||||
End of year |
$ | 51,780 | $ | 44,665 | ||||
|
|
|
|
The accompanying notes are an integral part of these financial statements.
3
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
1. | General Description of the Plan |
The following description of the Baxter Healthcare of Puerto Rico Savings and Investment Plan (the Plan) is provided for general information purposes only. Participants should refer to the Plan document and summary plan description for more complete information. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
The Plan is a defined contribution plan which became effective on January 1, 1998. The Plan was created for the purpose of providing retirement benefits to Puerto Rico employees of Baxter Healthcare S.A., the Sponsor or the Company, a subsidiary of Baxter International Inc. (Baxter) and to encourage and assist employees in adopting a regular savings program by means of payroll deductions through a plan that qualifies under the applicable laws of both the Puerto Rico and the United States Internal Revenue Codes. Plan participants may authorize the Company to make payroll deductions under the Plan ranging from 1% to 50% of their pre-tax monthly compensation, limited to a maximum of $15,000 and $13,000 a year in 2013 and 2012, respectively. Participants who have attained the age of 50 by the end of the year may contribute up to an additional $1,500 per year in catch-up contributions. Newly hired employees are deemed to have elected to contribute 3% of compensation unless they make a contrary election. The Company matches a participants savings contributions at the rate of 50 cents for each dollar of a participants pre-tax contribution, up to a maximum of 6% of a participants compensation. The Company also contributes an additional non-matching 3% of compensation for employees that are not eligible to participate in the Companys Puerto Rico defined benefit pension plan, which includes all new employees hired on or after January 1, 2008. Participants are immediately vested in their elective contributions plus actual earnings thereon. Vesting in the Companys matching and non-matching contributions plus actual earnings thereon is based on years of service. The matching contributions vest in accordance with the following vesting schedule:
Years of Service |
Vesting % | |||
1 |
20 | % | ||
2 |
40 | % | ||
3 |
60 | % | ||
4 |
80 | % | ||
5 or more |
100 | % |
The additional non-matching contributions become fully vested after three years of service. Employees are fully vested in the Companys matching contributions and non-matching account, regardless of years of service with the Company, upon attaining age 65, upon becoming disabled in accordance with the provisions of the Plan or upon dying while employed by the Company. Forfeitures of nonvested accounts are used to reduce future Company contributions.
Participants may borrow from their vested accounts a minimum of $500 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participants account and bear interest at the prime rate at the last day of the month prior to loan request, plus one percent.
Participants or their beneficiaries may elect lump-sum benefit payments, or benefits may be paid in installments. Shares of Baxter common stock may also be distributed in kind at the participants election. Subject to certain provisions specified in the Plan agreement, employed participants may withdraw their pre-tax contributions (but not the earnings on the contributions) in cases of financial hardship. In the case of a participant termination by reason of death or disability, the entire vested amount is paid to the person or persons legally entitled thereto.
Each participants account is credited with the participants contributions and an allocation of the Companys contributions and Plan earnings, and is charged with his or her withdrawals and an allocation of Plan-related
4
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
expenses. Allocations are based on participant earnings or account balances, as defined in the Plan document. The net income of the Plan is posted to the participants accounts on a daily basis. Each participant directs the investment of his or her account to any of the investment options available under the Plan.
Upon enrollment in the Plan, a participant may direct contributions into any of 19 investment options: Stable Income Fund, Baxter Common Stock Fund, Composite Fund, General Equity Fund, State Street Global Advisors S&P 500 Flagship Fund (SSgA S&P 500 Fund), State Street Global Advisors International EAFE Equity Index Fund (SSgA EAFE Equity Fund), State Street Global Advisors Small Cap Fund (SSgA Small Cap Fund), Northern Trust Domestic Mid Cap Fund, State Street Global Advisors Emerging Markets Fund (SSgA Emerging Markets Fund) and ten different Target Date Retirement Funds. However, non-matching contributions may not be invested in the Baxter Common Stock Fund. In addition, certain participants maintain shares in Edwards Lifesciences Corporation. These shares were placed into the Edwards Lifesciences Common Stock Fund in connection with Baxters 2000 spin-off of its cardiovascular business. Participants are not able to make contributions or transfer existing account balances to the Edwards Lifesciences Common Stock Fund, but may make transfers out of these funds at any time. Starting in 2013, participants are no longer able to make contributions to the Composite Fund and General Equity Fund, but may make transfers out of these funds at any time.
2. | Summary of Significant Accounting Policies |
Basis of Accounting
The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting. Accordingly, investment income is recognized when earned and expenses are recognized when incurred.
Certain reclassifications have been made to conform the prior period financial statements to the current period presentation.
Valuation of Investments and Collateral
The fair value of Plan investments and collateral is determined as follows:
Cash and cash equivalents | These largely consist of a short-term investment fund and a money market fund, the fair value of which is based on the net asset value. The investment objectives for these funds are to provide safety for principal, daily liquidity and a competitive yield by investing in high quality instruments. | |
Common stock | Value based on closing prices on the valuation date in an active market on national securities exchanges. | |
U.S. government and government agency issues | Value based on reputable pricing vendors that typically use pricing matrices or models. | |
Corporate and other obligations | Value based on reputable pricing vendors that typically use pricing matrices or models. |
5
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
Commingled funds | Value based on net asset values reported by the fund managers as of the Plans financial statement dates and recent transaction prices. The investment objectives of certain funds are to track the performances of the S&P 500, Europe, Australasia and the Far East (EAFE), or Russell 2000 indexes. In addition, these funds include target date retirement funds, whose objective is to provide investors, who have a specific date in mind for retirement with a portfolio of investments. The underlying investments for all funds vary, with some holding diversified portfolios of domestic stocks, government agency and corporate bonds, and others holding collective investment funds. Each fund provides for daily redemptions by the Plan at reported net asset values per share, with no advance notice requirement. | |
Registered investment companies | Value based upon the closing price from a national security exchange on the valuation date. | |
Synthetic guaranteed investment contracts | Value based on the fair value of the underlying securities in the contract on the valuation date plus the fair value of the wrapper contracts, which is calculated using a replacement cost approach. The underlying securities are valued based upon the methodologies described above. In addition, this investment in 2013 includes an individual separate account with Metropolitan Life Insurance Company (MetLife). The value of this separate account is based upon the unit value provided by MetLife as of the Plans financial statement date plus the fair value of the wrapper contracts, which is calculated using a replacement cost approach. The underlying securities primarily of the account, managed by a sub-advisor of the insurance company, consist of fixed income securities. See below for more information. | |
Collateral held on loaned securities | Value based upon the net asset value per unit of the short-term investment funds where the collateral is invested. Refer to Note 7 for more information on the securities lending program. | |
Collateral to be paid on loaned securities | Value based on the fair value of the underlying securities loaned on the valuation date, plus an incremental margin. |
Income Recognition
Plan investment return includes dividend and interest income, gains and losses on sales of investments and unrealized depreciation or appreciation of investments. Purchases and sales of investments are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. Interest is earned on an accrual basis.
The financial statements reflect the net depreciation or appreciation in the fair value of the Plans investments. This net depreciation or appreciation consists of realized gains and losses calculated as the difference between proceeds from a sales transaction and cost determined on a moving average basis, and unrealized gains and losses calculated as the change in the fair value between beginning of the year (or purchase date if later) and the end of the year.
6
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
Synthetic Guaranteed Investment Contracts
The Plan holds synthetic guaranteed investment contracts (GICs) as part of the Stable Income Fund. The synthetic GICs provide for a fixed return on principal over a specified time through fully benefit-responsive contracts issued by Transamerica, Bank of America N.A. and MetLife. During 2013, certain assets underlying the synthetic GICs were transferred to an individual separate account with MetLife. The portfolio of assets underlying the synthetic GICs primarily includes cash and cash equivalents, U.S. government and government agency issues and corporate and other obligations.
The fair value of the synthetic GICs equals the total of the fair value of the underlying assets plus the fair value of the wrapper contracts. The fair value of the wrapper contracts is computed using a replacement cost approach that incorporates a comparison of the current fee rate on similar wrapper contracts to the fee being paid by the Plan. Using this approach, the fair value of the wrapper contracts were a loss of $4 thousand and a loss of $26 thousand at December 31, 2013 and 2012, respectively.
While Plan investments are presented at fair value in the Statement of Net Assets Available for Benefits, any material difference between the fair value of the Plans direct and indirect interests in fully benefit-responsive investment contracts and their contract value is presented as an adjustment line in the Statements of Net Assets Available for Benefits, because contract value is the relevant measurement attribute for that portion of the Plans net assets available for benefits. Contract value represents contributions, plus earnings, less participant withdrawals and administrative expenses. The wrapper contracts used by the Plan are fully benefit-responsive because the wrapper contract issuers are contractually obligated to make up any shortfall in the event that the underlying asset portfolio has been liquidated and is inadequate to cover participant withdrawals and transfers at contract value. There are currently no reserves against contract values for credit risk of the contract issuers or any other risk. The contract value for the synthetic GICs was $19.3 million and $18.4 million at December 31, 2013 and 2012, respectively.
The crediting interest rate, which is reset quarterly, can never fall below zero. The crediting rate formula smoothes the impact of interest rate changes on participant returns by amortizing any difference between market value and book value over a period of years equal to the duration of the portfolio benchmark. The average yield on the synthetic GICs was approximately 2.0% and 2.2% at December 31, 2013 and 2012, respectively. The average interest rate credited to participants on the synthetic GICs was approximately 2.7% and 3.4% for the years ended December 31, 2013 and 2012. The credit ratings for Transamerica were AA- at both December 31, 2013 and 2012, the credit ratings for Bank of America N.A. were A at both December 31, 2013 and 2012, and the credit rating for MetLife was AA- at December 31, 2013.
Events that lead to market value withdrawals that exceed 20 percent of the contract value would limit the ability of the Plan to transact at contract value with participants. These events include restructurings, early retirement plans, divestitures, bankruptcies, or legal, tax or regulatory changes. The Plan sponsor believes that the occurrence of any such event is remote.
The wrapper providers can only terminate at a value different than contract value under an event of default (that was not remedied) such as failure to follow the terms of the contract. If a wrapper provider would like to exit the contract for another reason, the Plan can maintain the contract through an extended termination process designed to ensure continued benefit-responsive treatment for withdrawals.
Notes Receivables from Participants
Participant loans are reported at their unpaid principal balance plus any accrued but unpaid interest, with no allowance for credit losses, as repayments of principal and interest are received through payroll deductions and the notes are collateralized by the participants account balances.
7
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
Payment of Benefits and Fees
Benefits are recorded when paid. Loan origination fees associated with notes receivable from participants and the Plans record keeping and trustee fees are paid by the Plan and are reflected in the financial statements as Plan expenses. Investment management fees are charged to the Plan as a reduction of investment return and included in the investment income (loss) reported by the Plan. All other expenses of the Plan are paid by the Company.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and related notes to the financial statements. Changes in such estimates may affect amounts reported in future periods.
Other
Due from brokers for securities sold represent the net cash value of security trades initiated but not yet settled at each respective year-end.
Risks and Uncertainties
The Plan provides for various investment options which invest in any combination of registered investment companies, U.S. government and government agency issues, corporate and other obligations, common stock, commingled funds, synthetic guaranteed investment contracts and short-term investments. Investment securities are exposed to various risks, such as interest rate, market, liquidity and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect participants account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statements of Changes in Net Assets Available for Benefits. Individual participants accounts bear the risk of loss resulting from fluctuations in investment values.
Investments underlying the Plans synthetic GICs include securities with contractual cash flows, such as asset-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities, including securities backed by subprime mortgage loans (corporate and other obligations). The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate values, delinquencies and/or defaults, and may be adversely affected by shifts in the markets perception of the issuers and changes in interest rates.
3. | Eligibility Requirements |
Employees become eligible to participate in the Plan as of the first day of the month following the completion of thirty days of employment. Eligible employees are those who meet the following requirements:
A. | Puerto Rico employees of the Puerto Rico Branch, or the Company, both subsidiaries of Baxter; |
B. | Puerto Rico employees not covered by a collective bargaining agreement unless the agreement provides for coverage under the Plan; and |
C. | Puerto Rico employees who are not leased employees. |
8
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
4. | Administration of the Plan |
Banco Popular de Puerto Rico (the Trustee) and State Street Bank and Trust Company (the Custodian) serve as trustee and custodian, respectively, for the Plan. ING Institutional Plan Services, LLC serves as recordkeeper for the Plan.
The Administrative Committee administers the Plan. The Investment Committee has authority, responsibility and control over the management of the assets of the Plan. Members of both committees are appointed by the Board of Directors of Baxter and are employees of Baxter.
Substantially all investment manager, trustee and administrative fees incurred in the administration of the Plan were paid from the assets of the Plan.
5. | Fair Value of Measurements |
The fair value hierarchy under the accounting standard for fair value measurements consists of the following three levels:
| Level 1 - Quoted prices in active markets that the Plan has the ability to access for identical assets or liabilities; |
| Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuations in which all significant inputs are observable in the market; and |
| Level 3 - Valuations using significant inputs that are unobservable in the market and include the use of judgment by the Plans management about the assumptions market participants would use in pricing the asset or liability. |
9
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
The following tables summarize the bases used to measure the Plans financial instruments and liabilities that are carried at fair value on a recurring basis.
Basis of Fair Value Measurement | ||||||||||||||||
(in thousands) | Balance at December 31, 2013 |
Quoted Prices (Level 1) |
Significant (Level 2) |
Significant (Level 3) |
||||||||||||
Assets |
||||||||||||||||
Cash and cash equivalents |
$ | 672 | $ | | $ | 672 | $ | | ||||||||
Common stock: |
||||||||||||||||
Healthcare |
8,165 | 8,165 | | | ||||||||||||
Consumer products |
936 | 936 | | | ||||||||||||
Information technology |
836 | 836 | | | ||||||||||||
Financial services |
334 | 334 | | | ||||||||||||
Industrial services and materials |
417 | 417 | | | ||||||||||||
Energy |
228 | 228 | | | ||||||||||||
Other |
68 | 68 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total common stock |
10,984 | 10,984 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
U.S. government and government agency issues |
418 | | 418 | | ||||||||||||
Corporate and other obligations |
511 | | 511 | | ||||||||||||
Commingled funds: |
||||||||||||||||
SSgA S&P 500 fund |
6,405 | | 6,405 | | ||||||||||||
SSgA EAFE equity fund |
2,298 | | 2,298 | | ||||||||||||
SSgA Small cap fund |
2,632 | | 2,632 | | ||||||||||||
Target date retirement funds |
4,124 | | 4,124 | | ||||||||||||
Other |
166 | | 166 | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total commingled funds |
15,625 | | 15,625 | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Synthetic guaranteed investment contracts: |
||||||||||||||||
Corporate and other obligations |
6,438 | | 6,438 | | ||||||||||||
U.S. government and government agency issues |
8,666 | | 8,666 | | ||||||||||||
Individual separate account |
4,783 | 4,783 | ||||||||||||||
Cash and cash equivalents |
446 | | 446 | | ||||||||||||
Wrapper contracts |
(4 | ) | | | (4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total synthetic guaranteed investment contracts |
20,329 | | 20,333 | (4 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Collateral held on loaned securities |
188 | | 188 | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 48,727 | $ | 10,984 | $ | 37,747 | $ | (4 | ) | |||||||
|
|
|
|
|
|
|
|
|||||||||
Liability |
||||||||||||||||
Collateral to be paid on loaned securities |
$ | 188 | $ | 26 | $ | 162 | $ | | ||||||||
|
|
|
|
|
|
|
|
10
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
Basis of Fair Value Measurement | ||||||||||||||||
(in thousands) | Balance at December 31, 2012 |
Quoted Prices (Level 1) |
Significant (Level 2) |
Significant (Level 3) |
||||||||||||
Assets |
||||||||||||||||
Cash and cash equivalents |
$ | 910 | $ | | $ | 910 | $ | | ||||||||
Common stock: |
||||||||||||||||
Healthcare |
7,567 | 7,567 | | | ||||||||||||
Consumer products |
647 | 647 | | | ||||||||||||
Information technology |
727 | 727 | | | ||||||||||||
Financial services |
385 | 385 | | | ||||||||||||
Industrial services and materials |
377 | 377 | | | ||||||||||||
Energy |
179 | 179 | | | ||||||||||||
Other |
71 | 71 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total common stock |
9,953 | 9,953 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
U.S. government and government agency issues |
363 | | 363 | | ||||||||||||
Corporate and other obligations |
517 | | 517 | | ||||||||||||
Commingled funds: |
||||||||||||||||
SSgA S&P 500 fund |
4,414 | | 4,414 | | ||||||||||||
SSgA EAFE equity fund |
1,841 | | 1,841 | | ||||||||||||
SSgA Small cap fund |
1,631 | | 1,631 | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total commingled funds: |
7,886 | | 7,886 | | ||||||||||||
Registered investment companies: |
||||||||||||||||
Target date retirement funds |
2,668 | 2,668 | | | ||||||||||||
Other |
35 | 35 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total registered investment companies |
2,703 | 2,703 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Synthetic guaranteed investment contracts: |
||||||||||||||||
Corporate and other obligations |
11,489 | | 11,489 | | ||||||||||||
U.S. government and government agency issues |
7,640 | | 7,640 | | ||||||||||||
Cash and cash equivalents |
1,097 | | 1,097 | | ||||||||||||
Wrapper contracts |
(26 | ) | | | (26 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total synthetic guaranteed investment contracts |
20,200 | | 20,226 | (26 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Collateral held on loaned securities |
242 | | 242 | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
$ | 42,774 | $ | 12,656 | $ | 30,144 | $ | (26 | ) | |||||||
|
|
|
|
|
|
|
|
|||||||||
Liability |
||||||||||||||||
Collateral to be paid on loaned securities |
$ | 242 | $ | 37 | $ | 205 | $ | | ||||||||
|
|
|
|
|
|
|
|
Transfers between hierarchy measurement levels are recognized by the Plan as of the beginning of the reporting period. In 2013, due to a change in the structure of the investment, the target date retirement funds are now classified as commingled funds. In 2012 they were classified as registered investment companies. The fair value of commingled funds is valued based upon the net asset value of the underlying securities and is classified as Level 2.
11
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
The following table sets forth a summary of changes in the fair values of the Plans level 3 financial instruments.
(in thousands) | Wrapper Contracts |
|||
Balance at December 31, 2011 |
$ | (8 | ) | |
Unrealized losses (relating to assets held at end of year) |
(18 | ) | ||
|
|
|||
Balance at December 31, 2012 |
(26 | ) | ||
|
|
|||
Additions |
1 | |||
Unrealized gains (relating to assets held at end of year) |
21 | |||
|
|
|||
Balance at December 31, 2013 |
$ | (4 | ) | |
|
|
The unrealized losses from the wrapper contracts are excluded from the net appreciation reported for the Plan, but are instead reflected in the change in adjustment from fair value to contract value for fully benefit responsive contracts reported on the statements of net assets available for benefits. The additions are due to the new contract with MetLife as detailed in Note 2.
See Valuation of Investments and Collateral in Note 2 above for a discussion of the methodologies used to determine the fair values of the Plans investments and collateral. These methods 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 fair value measurement at the reporting date.
6. | Investments |
Investments representing five percent or more of the Plans net assets available for benefits at December 31, 2013 and 2012 are summarized as follows:
(values in thousands, except per share) | 2013 | 2012 | ||||||
Baxter common stock, 107,710 shares and 104,186 shares at December 31, 2013 and 2012, respectively |
$ | 7,491 | $ | 6,945 | ||||
SSgA S&P 500 Fund |
6,405 | 4,414 | ||||||
MetLife Individual Separate Account |
4,783 | * | ||||||
SSgA Small Cap Fund |
2,632 | * |
* | Does not meet 5% threshold |
12
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
Investments as of December 31, 2013 and 2012 are segregated into various investment fund options as follows:
2013 | 2012 | |||||||
(in thousands) |
||||||||
Cash (available for investment) |
$ | 135 | $ | 129 | ||||
Stable Income Fund |
20,738 | 20,874 | ||||||
Baxter Common Stock Fund |
7,584 | 6,993 | ||||||
Composite Fund |
2,132 | 1,984 | ||||||
General Equity Fund |
2,263 | 1,908 | ||||||
SSgA S&P 500 Fund |
6,405 | 4,414 | ||||||
SSgA EAFE Equity Fund |
2,298 | 1,841 | ||||||
Edwards Lifesciences Common Stock Fund |
62 | 90 | ||||||
SSgA Small Cap Fund |
2,632 | 1,631 | ||||||
Northern Trust Domestic Mid Cap Fund |
145 | | ||||||
SSgA Emerging Markets Fund |
21 | | ||||||
Target Date Retirement Funds |
4,124 | 2,668 | ||||||
Collateral held on loaned securities |
188 | 242 | ||||||
|
|
|
|
|||||
Total investments at fair value |
48,727 | 42,774 | ||||||
Adjustment from fair value to contract value for Stable Income Fund |
(1,023 | ) | (1,785 | ) | ||||
|
|
|
|
|||||
Total investments |
$ | 47,704 | $ | 40,989 | ||||
|
|
|
|
Net appreciation (depreciation) in fair value for each significant class of investment, which includes realized and unrealized gains and losses, is as follows:
2013 | 2012 | |||||||
(in thousands) |
||||||||
Baxter common stock |
$ | 324 | $ | 1,916 | ||||
Other common stock |
949 | 397 | ||||||
U.S. government and government agency issues |
(22 | ) | | |||||
Corporate and other obligations |
(23 | ) | 43 | |||||
Commingled funds |
3,316 | 1,157 | ||||||
Registered investment companies |
| 193 | ||||||
|
|
|
|
|||||
$ | 4,544 | $ | 3,706 | |||||
|
|
|
|
7. | Securities Lending Transactions |
The Plan participates in a securities lending program with the Custodian. The program allows the Custodian to loan securities, which are assets of the Plan, to approved brokers (the Borrowers).
The Custodian requires the Borrowers, pursuant to a security loan agreement, to deliver collateral to secure each loan in an amount that is at least equal to the fair value of the securities loaned. The Plan bears the risk of loss with respect to any unfavorable change in fair value of the invested cash collateral. However, the Borrower bears the risk of loss related to the decrease in the fair value of the non-cash collateral and, therefore, would have to deliver additional securities to maintain the required collateral. In the event of default by the Borrower, the Custodian shall indemnify the Plan by purchasing replacement securities equal to the number of unreturned loaned securities, to the extent that such replacement securities are available on the open market and if to the extent that such proceeds are insufficient or the collateral is unavailable, the purchase of replacement securities shall be made at Trustee expense or, if replacement securities are not able to be purchased, the Custodian shall credit the Plan for the market value of the unreturned securities. In each case, the Custodian would apply the proceeds from the collateral for such a loan to make the Plan whole.
13
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
The fair value of the investment of cash collateral received pursuant to securities lending transactions is reflected on the Statements of Net Assets Available for Benefits as an asset and the obligation to return the amount received is reflected as a liability.
As of December 31, 2013 and 2012, the Plan had securities on loan with a fair market of $184 thousand and $237 thousand, respectively, with cash collateral received of $188 thousand and $242 thousand, respectively, which was invested in the State Street Quality D Short-Term Investment Fund. Investments underlying this fund primarily consisted of cash and cash equivalents and asset-backed securities as of both December 31, 2013 and 2012, and the net asset value of this fund was approximately $1.00 per unit. As of December 31, 2013 and 2012 the cash collateral received is reflected at its fair value of $188 thousand and $242 thousand in the 2013 and 2012 Statements of Net Assets Available for Benefits, respectively.
Non-cash collateral of $23 thousand received for securities on loan at December 31, 2013, consisted of U.S. government and government agency issues, equity securities, and corporate and other obligations held by the Custodian on behalf of the Plan. Non-cash collateral is not included with the collateral balance on the 2013 Statement of Net Assets Available for Benefits because it may not be sold or repledged. A portion of the income generated upon investment of cash collateral is remitted to the Borrowers, and the remainder is allocated between the Plan and the Custodian in its capacity as a security agent. The Plan did not receive any non-cash collateral for securities on loan at December 31, 2012. Securities lending income allocated to the Plan amounted to $422 and $577 for 2013 and 2012, respectively. Securities lending income is classified as interest income in the Statements of Changes in Net Assets Available for Benefits.
8. | Plan Termination |
Although it has not expressed any intent to do so, the Plan sponsor has the right under the Plan to reduce, suspend or discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event the Plan terminates, the interest of each participating employee in the Plan shall become fully vested and such termination of the Plan would not reduce the interest of any participating employee or their beneficiaries accrued under the Plan up to the date of such termination.
9. | Tax Status of the Plan |
As of August 13, 2012, the Puerto Rico Treasury Department has determined and informed the Plan sponsor that the Plan and the related trust are designed in accordance with applicable sections entitling exemption from income taxes. The Plan sponsor has also obtained a favorable determination letter dated October 22, 2011, from the Internal Revenue Service (IRS) stating that the Plan is in compliance with IRS regulations.
U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2013 and 2012, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2010.
10. | Related Parties |
Parties-in-interest are defined under Department of Labor regulations as any fiduciary of the Plan, any party rendering service to the Plan, the employer, and certain others.
14
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Notes to Financial Statements
December 31, 2013 and 2012
At December 31, 2013 and 2012, the Plan held units of participation in certain shares of common stock of State Street Corporation, commingled funds and short-term investment funds of State Street Bank and Trust Company, the Plans Custodian; shares of common stock and bonds of Baxter, the Plan sponsors parent; loans with participants; units of registered investment companies managed by Pacific Investment Management Company, an investment manager for the Plan; shares of common stock, bonds, and interest rate wrapper contracts of Bank of America, issuer of the Plans fully benefit-responsive contracts; interest rate wrapper contracts of Transamerica, issuer of the Plans fully benefit-responsive contracts; and shares of common stock, bonds, an individual separate account and interest rate wrapper contracts of MetLife, issuer of the Plans fully benefit-responsive contracts; and units of commingled funds managed by Northern Trust Corporation, an investment manager for the Plan. These transactions are allowable party-in-interest transactions under ERISA and the regulations promulgated thereunder.
Fees paid by the Plan for investment management, recordkeeping and consulting services, also qualify as party-in-interest transactions and are included in Plan expenses in the accompanying financial statements. The Company pays certain expenses for the administration of the Plan. These transactions are exempt from the party-in interest transaction prohibitions of ERISA.
11. | Subsequent Event |
On March 27, 2014, Baxter announced plans to create two separate, independent global healthcare companies one focused on developing and marketing innovative biopharmaceuticals and the other on life-saving medical products. The transaction is intended to take the form of a tax-free distribution to Baxter shareholders of publicly traded stock in the new biopharmaceuticals company. The transaction is expected to be completed by mid-year 2015, subject to market, regulatory and certain other conditions, including final approval by the Baxter Board of Directors, receipt of a favorable opinion and/or rulings with respect to the tax-free nature of the transaction, and the effectiveness of a Form 10 registration statement that will be filed with the SEC. Any impact on the Plan as of the issuance date is unknown to the Plan Management.
15
SUPPLEMENTAL SCHEDULE
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Cash and Cash Equivalents: | ||||||||||||
Australian Dollar |
Currency | | $ | 5 | ||||||||
* |
State Street Bank & Trust Co |
Short-Term Investment Fund | | 672,190 | ||||||||
|
|
|||||||||||
Cash and cash equivalents |
| $ | 672,195 | |||||||||
|
|
|||||||||||
** |
Common Stock: | |||||||||||
Abbott Laboratories |
Common Stock | | 30,542 | |||||||||
Ace Ltd |
Common Stock | | 17,403 | |||||||||
Adobe Systems Inc |
Common Stock | | 24,344 | |||||||||
Aes Corp |
Common Stock | | 9,811 | |||||||||
Agilent Technologies Inc |
Common Stock | | 8,681 | |||||||||
Alcoa Inc |
Common Stock | | 7,868 | |||||||||
Alexion Pharmaceuticals Inc |
Common Stock | | 41,024 | |||||||||
Allergan Inc |
Common Stock | | 44,098 | |||||||||
Allergan Inc |
Common Stock | | 10,312 | |||||||||
Amazon.Com Inc |
Common Stock | | 90,730 | |||||||||
American Intl Group |
Common Stock | | 9,798 | |||||||||
American Tower Corp |
Common Stock | | 23,806 | |||||||||
Aon Plc |
Common Stock | | 8,735 | |||||||||
Apple Inc |
Common Stock | | 112,033 | |||||||||
Applied Materials Inc |
Common Stock | | 7,878 | |||||||||
ARM Holdings Plc |
Common Stock | | 22,954 | |||||||||
Baker Hughes Inc |
Common Stock | | 6,863 | |||||||||
* |
Bank of America |
Common Stock | | 18,106 | ||||||||
* |
Bank of America |
Common Stock | | 9,610 | ||||||||
* |
Baxter International Inc |
Common Stock | | 7,491,232 | ||||||||
BCE Inc |
Common Stock | | 11,649 | |||||||||
Biogen Idec Inc |
Common Stock | | 56,933 | |||||||||
Boeing Co |
Common Stock | | 46,080 | |||||||||
Boeing Co |
Common Stock | | 13,698 | |||||||||
BP Plc |
Common Stock | | 10,489 | |||||||||
Bristol Myers Squibb Co |
Common Stock | | 49,377 | |||||||||
Cameron International Corp |
Common Stock | | 7,505 | |||||||||
Canadian Pacific Railway Ltd |
Common Stock | | 28,575 | |||||||||
Capital One |
Common Stock | | 9,899 | |||||||||
Capital One |
Common Stock | | 18,885 | |||||||||
Cardinal Health Inc |
Common Stock | | 7,794 | |||||||||
Celgene Corp |
Common Stock | | 24,335 | |||||||||
Chipotle Mexican Grill Inc |
Common Stock | | 24,703 | |||||||||
Cisco Systems Inc |
Common Stock | | 12,856 | |||||||||
CIT Group Inc |
Common Stock | | 9,809 | |||||||||
Citigroup Inc |
Common Stock | | 9,740 | |||||||||
Citigroup Inc |
Common Stock | | 18,337 | |||||||||
Citrix Systems Inc |
Common Stock | | 10,077 | |||||||||
Coca Cola Co |
Common Stock | | 11,582 | |||||||||
Comcast Corp |
Common Stock | | 7,888 |
16
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Concho Resources Inc |
Common Stock | | 25,372 | |||||||||
Costco Wholesale Corp |
Common Stock | | 45,452 | |||||||||
Covidien Plc |
Common Stock | | 10,807 | |||||||||
CVS Caremark Corp |
Common Stock | | 13,288 | |||||||||
CVS Caremark Corp |
Common Stock | | 9,697 | |||||||||
Diageo Plc |
Common Stock | | 19,818 | |||||||||
DirectTV |
Common Stock | | 9,881 | |||||||||
Discovery Communications |
Common Stock | | 35,135 | |||||||||
Dollar General Corp |
Common Stock | | 12,334 | |||||||||
Du Pont E I De Nemours & Co |
Common Stock | | 9,943 | |||||||||
Dunkin Brands Group Inc |
Common Stock | | 27,505 | |||||||||
Ebay Inc |
Common Stock | | 21,126 | |||||||||
Edwards Lifesciences Corp |
Common Stock | | 61,675 | |||||||||
Encana Corp |
Common Stock | | 6,827 | |||||||||
EOG Resources Inc |
Common Stock | | 28,298 | |||||||||
Estee Lauder Companies |
Common Stock | | 35,659 | |||||||||
Exelon Corp |
Common Stock | | 11,476 | |||||||||
Express Scripts Holding Co |
Common Stock | | 32,350 | |||||||||
Exxon Mobil Corp |
Common Stock | | 29,199 | |||||||||
Facebook Inc |
Common Stock | | 48,263 | |||||||||
Fireeye Inc |
Common Stock | | 5,120 | |||||||||
Flextronics Intl Ltd |
Common Stock | | 7,544 | |||||||||
FMC Technologies Inc |
Common Stock | | 12,042 | |||||||||
Ford Motor Co |
Common Stock | | 15,960 | |||||||||
General Electric Co |
Common Stock | | 29,572 | |||||||||
General Electric Co |
Common Stock | | 9,740 | |||||||||
Gilead Sciences Inc |
Common Stock | | 42,690 | |||||||||
Goldman Sachs Group |
Common Stock | | 40,825 | |||||||||
Google Inc |
Common Stock | | 102,561 | |||||||||
Google Inc |
Common Stock | | 9,138 | |||||||||
Halliburton Co |
Common Stock | | 15,534 | |||||||||
Hess Corp |
Common Stock | | 9,683 | |||||||||
Honeywell International Inc |
Common Stock | | 15,531 | |||||||||
Hospira Inc |
Common Stock | | 6,784 | |||||||||
Illumina Inc |
Common Stock | | 6,965 | |||||||||
Inditex Unspon Adr |
Common Stock | | 49,927 | |||||||||
Invesco Ltd |
Common Stock | | 9,315 | |||||||||
Johnson & Johnson |
Common Stock | | 10,800 | |||||||||
Johnson Controls Inc |
Common Stock | | 15,863 | |||||||||
JP Morgan Chase & Co |
Common Stock | | 15,699 | |||||||||
Kansas City Southern |
Common Stock | | 11,921 | |||||||||
Kohls Corp |
Common Stock | | 7,902 | |||||||||
Linkedin Corp |
Common Stock | | 42,534 | |||||||||
Lowes Companies, Inc |
Common Stock | | 7,708 | |||||||||
Marathon Oil Corp |
Common Stock | | 14,215 | |||||||||
Marsh & McLennan Cos |
Common Stock | | 8,797 | |||||||||
Mastercard Inc |
Common Stock | | 101,149 | |||||||||
McDonalds Corp |
Common Stock | | 9,190 | |||||||||
McKesson Corp |
Common Stock | | 6,935 |
17
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Merck & Co. Inc |
Common Stock | | 14,492 | |||||||||
Michael Kors Holdings Ltd |
Common Stock | | 23,446 | |||||||||
Microsoft Corp |
Common Stock | | 9,344 | |||||||||
Mondelez International Inc |
Common Stock | | 38,139 | |||||||||
Monsanto Co |
Common Stock | | 59,651 | |||||||||
Monsanto Co |
Common Stock | | 16,522 | |||||||||
Morgan Stanley |
Common Stock | | 31,136 | |||||||||
Mosaic Co |
Common Stock | | 6,197 | |||||||||
Netapp Inc |
Common Stock | | 7,612 | |||||||||
Netflix Inc |
Common Stock | | 26,871 | |||||||||
Nike Inc |
Common Stock | | 49,702 | |||||||||
Novartis AG |
Common Stock | | 14,117 | |||||||||
Novartis AG |
Common Stock | | 9,176 | |||||||||
Novo Nordisk |
Common Stock | | 39,894 | |||||||||
Oracle Corp |
Common Stock | | 15,623 | |||||||||
Owens Illinois Inc |
Common Stock | | 4,444 | |||||||||
Owens Illinois Inc |
Common Stock | | 7,002 | |||||||||
Perrigo Co Plc |
Common Stock | | 26,043 | |||||||||
Pfizer Inc |
Common Stock | | 26,513 | |||||||||
PNC Financial Services Group |
Common Stock | | 17,518 | |||||||||
Precision Castparts Corp |
Common Stock | | 49,786 | |||||||||
Priceline.Com Inc |
Common Stock | | 65,153 | |||||||||
Procter & Gamble Co |
Common Stock | | 6,945 | |||||||||
Qualcomm Inc |
Common Stock | | 11,643 | |||||||||
Ralph Lauren Corp |
Common Stock | | 22,937 | |||||||||
Red Hat Inc |
Common Stock | | 32,811 | |||||||||
Republic Services Inc |
Common Stock | | 4,331 | |||||||||
Rolls Royce Holdings |
Common Stock | | 14,353 | |||||||||
Salesforce.com Inc |
Common Stock | | 40,952 | |||||||||
Sanofi SA |
Common Stock | | 8,881 | |||||||||
Schlumberger Ltd |
Common Stock | | 33,707 | |||||||||
Schlumberger Ltd |
Common Stock | | 9,156 | |||||||||
Charles Schwab Corp |
Common Stock | | 7,045 | |||||||||
Southwest Airlines |
Common Stock | | 7,776 | |||||||||
Southwestern Energy Co |
Common Stock | | 9,572 | |||||||||
Splunk Inc |
Common Stock | | 25,321 | |||||||||
Sprouts Farmers Market Inc |
Common Stock | | 5,309 | |||||||||
Starbucks Corp |
Common Stock | | 27,219 | |||||||||
Swatch Group AG |
Common Stock | | 24,735 | |||||||||
Symantec Corp |
Common Stock | | 8,504 | |||||||||
Tableau Software Inc |
Common Stock | | 4,880 | |||||||||
Teradata Corp |
Common Stock | | 2,910 | |||||||||
Tesla Motors Inc |
Common Stock | | 19,253 | |||||||||
Texas Instruments Inc |
Common Stock | | 17,544 | |||||||||
Texas Instruments Inc |
Common Stock | | 9,860 | |||||||||
Thermo Fisher Scientific Inc |
Common Stock | | 9,918 | |||||||||
Time Warner Inc |
Common Stock | | 18,261 | |||||||||
Time Warner Inc |
Common Stock | | 7,872 | |||||||||
TJX Companies Inc |
Common Stock | | 55,967 |
18
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Tripadvisor Inc | Common Stock | | 11,967 | |||||||||
Twenty First Century Fox | Common Stock | | 13,641 | |||||||||
Twitter Inc | Common Stock | | 14,662 | |||||||||
Under Armour Inc | Common Stock | | 22,281 | |||||||||
Union Pacific Corp | Common Stock | | 29,560 | |||||||||
United Technologies Corp | Common Stock | | 36,612 | |||||||||
Unitedhealth Group Inc | Common Stock | | 22,671 | |||||||||
Unitedhealth Group Inc | Common Stock | | 7,746 | |||||||||
Vertex Pharmaceuticals Inc | Common Stock | | 36,451 | |||||||||
Viacom Inc | Common Stock | | 18,516 | |||||||||
Visa Inc | Common Stock | | 59,330 | |||||||||
VMware Inc | Common Stock | | 30,995 | |||||||||
Vodafone Group | Common Stock | | 25,569 | |||||||||
Vodafone Group | Common Stock | | 10,257 | |||||||||
Walt Disney Co | Common Stock | | 41,821 | |||||||||
Weatherford Intl Ltd | Common Stock | | 9,444 | |||||||||
Wellpoint Inc | Common Stock | | 5,563 | |||||||||
Whole Foods Market Inc | Common Stock | | 35,511 | |||||||||
Workday Inc | Common Stock | | 18,497 | |||||||||
Youku Tudou Inc Adr | Common Stock | | 5,474 | |||||||||
|
|
|||||||||||
Common Stock |
| $ | 10,984,399 | |||||||||
|
|
|||||||||||
** |
U.S. Government and Government Agency Issues: |
|||||||||||
Bonos Y Oblig Del Estado | 5.5% 30 Apr 2021 | | 1,926 | |||||||||
Bonos Y Oblig Del Estado | 5.85% 31 Jan 2022 | | 6,006 | |||||||||
Buoni Poliennali Del Tes | 5.5% 01 Nov 2022 | | 5,134 | |||||||||
Fannie Mae | 7.25% 15 May 2030 | | 4,636 | |||||||||
Fannie Mae | 6.625% 15 Nov 2030 | | 15,935 | |||||||||
Fed HM LN PC Pool A58677 | 5.5% 01 Mar 2037 | | 2,423 | |||||||||
Fed HM LN PC Pool C09004 | 3.5% 01 Jul 2042 | | 11,154 | |||||||||
Fed HM LN PC Pool C48827 | 6.0% 01 Mar 2031 | | 90 | |||||||||
Fed HM LN PC Pool C91370 | 4.5% 01 May 2031 | | 4,117 | |||||||||
Fed HM LN PC Pool G12334 | 5.0% 01 Sep 2021 | | 1,176 | |||||||||
Fed HM LN PC Pool J16933 | 3.0% 01 Oct 2026 | | 962 | |||||||||
Fed HM LN PC Pool J18615 | 3.0% 01 Apr 2027 | | 494 | |||||||||
Fed HM LN PC Pool J18702 | 3.0% 01 Mar 2027 | | 2,424 | |||||||||
Fed HM LN PC Pool J18832 | 3.0% 01 Apr 2027 | | 346 | |||||||||
Fed HM LN PC Pool J19087 | 3.0% 01 May 2027 | | 281 | |||||||||
Fed Republic Of Brazil | 4.25% 07 Jan 2025 | | 4,730 | |||||||||
FNMA Pool 256398 | 6.0% 01 Sep 2021 | | 229 | |||||||||
FNMA Pool 581043 | 6.0% 01 May 2016 | | 65 | |||||||||
FNMA Pool 615005 | 6.0% 01 Dec 2016 | | 141 | |||||||||
FNMA Pool 694448 | 5.5% 01 Apr 2033 | | 1,840 | |||||||||
FNMA Pool 725690 | 6.0% 01 Aug 2034 | | 1,600 | |||||||||
FNMA Pool 748115 | 6.0% 01 Oct 2033 | | 616 | |||||||||
FNMA Pool 815316 | 5.5% 01 May 2035 | | 2,373 | |||||||||
FNMA Pool 822979 | 5.5% 01 Apr 2035 | | 2,369 |
19
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
FNMA Pool 885504 | 6.0% 01 Aug 2021 | | 728 | |||||||||
FNMA Pool 902793 | 6.5% 01 Nov 2036 | | 1,033 | |||||||||
FNMA Pool AH3765 | 4.0% 01 Jan 2041 | | 11,326 | |||||||||
FNMA Pool AH3979 | 4.0% 01 Feb 2041 | | 4,036 | |||||||||
FNMA Pool AH4008 | 4.0% 01 Mar 2041 | | 5,332 | |||||||||
FNMA Pool AH9374 | 4.5% 01 Apr 2041 | | 5,483 | |||||||||
FNMA Pool AL0920 | 5.0% 01 Jul 2037 | | 4,377 | |||||||||
FNMA Pool AO3466 | 3.0% 01 Jun 2027 | | 5,095 | |||||||||
FNMA Pool AO3540 | 3.0% 01 Jun 2042 | | 2,391 | |||||||||
FNMA Pool AO5515 | 3.5% 01 Jul 2042 | | 618 | |||||||||
FNMA Pool AO8494 | 2.5% 01 Aug 2027 | | 9,230 | |||||||||
FNMA Pool AP6604 | 3.0% 01 Sep 2042 | | 9,395 | |||||||||
FNMA Pool MA0734 | 4.5% 01 May 2031 | | 4,039 | |||||||||
FNMA Pool MA0918 | 4.0% 01 Dec 2041 | | 11,047 | |||||||||
GNMA II Pool 710082 | 4.698% 20 Jul 2061 | | 805 | |||||||||
GNMA II Pool 710089 | 4.7% 20 Oct 2061 | | 575 | |||||||||
GNMA II Pool 766519 | 4.668% 20 May 2062 | | 751 | |||||||||
GNMA II Pool 766522 | 4.538% 20 Nov 2062 | | 854 | |||||||||
GNMA II Pool 766544 | 4.499% 20 Dec 2062 | | 853 | |||||||||
GNMA II Pool 766549 | 4.616% 20 Jul 2062 | | 1,272 | |||||||||
Kingdom Of Spain | 4.0% 06 Mar 2018 | | 14,404 | |||||||||
Mex Bonos Desarr | 6.5% 10 Jun 2021 | | 20,749 | |||||||||
Obrigacoes Do Tesouro | 5.65% 15 Feb 2024 | | 8,932 | |||||||||
Republic Of Philippines | 3.9% 26 Nov 2022 | | 2,865 | |||||||||
Republic Of South Africa | 5.875% 16 Sep 2025 | | 3,774 | |||||||||
Tenn Valley Authority | 3.5% 15 Dec 2042 | | 5,325 | |||||||||
United Mexican States | 6.05% 11 Jan 2040 | | 5,761 | |||||||||
US Treasury N/B | 3.0% 15 May 2042 | | 25,544 | |||||||||
US Treasury N/B | 2.75% 15 Aug 2042 | | 944 | |||||||||
US Treasury N/B | 3.125% 15 Feb 2043 | | 8,335 | |||||||||
US Treasury N/B | 2.875% 15 May 2043 | | 6,279 | |||||||||
US Treasury N/B | 3.625% 15 Aug 2043 | | 4,502 | |||||||||
US Treasury N/B | 3.75% 15 Nov 2043 | | 9,281 | |||||||||
US Treasury N/B | 1.875% 31 Aug 2017 | | 62,131 | |||||||||
US Treasury N/B | 0.25% 31 Mar 2014 | | 9,473 | |||||||||
US Treasury N/B | 1.75% 15 May 2022 | | 7,348 | |||||||||
US Treasury N/B | 1.0% 30 Jun 2019 | | 17,316 | |||||||||
US Treasury N/B | 1.625% 15 Aug 2022 | | 1,024 | |||||||||
US Treasury N/B | 0.25% 31 Aug 2014 | | 7,423 | |||||||||
US Treasury N/B | 0.125% 31 Dec 2014 | | 38,858 | |||||||||
US Treasury N/B | 0.25% 31 Jul 2015 | | 7,151 | |||||||||
|
|
|||||||||||
U.S. Government and Government Agency Issues |
| $ | 417,726 | |||||||||
|
|
|||||||||||
** |
Corporate and Other Obligations: |
|||||||||||
Alcoa Inc |
5.87% 23 Feb 2022 | | 4,443 | |||||||||
American Axle & Mfg Inc |
5.125% 15 Feb 2019 | | 476 | |||||||||
American Tower Corp |
4.625% 01 Apr 2015 | | 1,995 |
20
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
American Tower Corp | 4.5% 15 Jan 2018 | | 2,979 | |||||||||
Americredit Automobile Receivables | 1.19% 08 May 2018 | | 1,320 | |||||||||
Americredit Automobile Receivables | 1.79% 08 Mar 2019 | | 1,051 | |||||||||
Amphenol Corp | 4.75% 15 Nov 2014 | | 4,379 | |||||||||
Anadarko Petroleum Corp | 6.375% 15 Sep 2017 | | 5,626 | |||||||||
Arcelormittal | 7.25% 01 Mar 2041 | | 4,743 | |||||||||
Associates Corp NA | 6.95% 01 Nov 2018 | | 2,364 | |||||||||
Audatex North America Inc | 6.0% 15 Jun 2021 | | 5,480 | |||||||||
Avon Products Inc | 4.6% 15 Mar 2020 | | 657 | |||||||||
Banc of America Commercial Mortgage | 1.0% 10 Apr 2049 | | 2,201 | |||||||||
Banco Santander Bras Ci | 4.625% 13 Feb 2017 | | 5,509 | |||||||||
Banco Santander Chile | 3.875% 20 Sep 2022 | | 2,498 | |||||||||
* |
Bank of America | 6.4% 28 Aug 2017 | | 2,748 | ||||||||
* |
Bank of America | 5.625% 01 Jul 2020 | | 5,978 | ||||||||
* |
Bank of America | 5.0% 13 May 2021 | | 1,954 | ||||||||
BBVA Banco Continental | 3.25% 08 Apr 2018 | | 3,774 | |||||||||
Bear Stearns Commercial Mortgage | 1.0% 11 Jun 2040 | | 2,599 | |||||||||
Braskem America Finance | 7.125% 22 Jul 2041 | | 3,955 | |||||||||
Brocade Communications | 6.875% 15 Jan 2020 | | 639 | |||||||||
Bunge Limited Finance Co | 4.1% 15 Mar 2016 | | 1,049 | |||||||||
CBRE Services Inc | 5.0% 15 Mar 2023 | | 2,355 | |||||||||
CCO Hldgs LLC/Cap Corp | 6.5% 30 Apr 2021 | | 1,429 | |||||||||
CCO Hldgs LLC/Cap Corp | 5.25% 15 Mar 2021 | | 2,972 | |||||||||
CD Commercial Mortgage Trust | 5.322% 11 Dec 2049 | | 6,671 | |||||||||
Celulosa Arauco | 5.0% 21 Jan 2021 | | 3,007 | |||||||||
Centurylink Inc | 5.625% 01 Apr 2020 | | 1,145 | |||||||||
Chesapeake Energy Corp | 3.25% 15 Mar 2016 | | 2,742 | |||||||||
Cielo Sa/Cielo Usa Inc | 3.75% 16 Nov 2022 | | 4,715 | |||||||||
Citigroup Inc | 4.45% 10 Jan 2017 | | 4,665 | |||||||||
Citigroup Inc | 4.05% 30 Jul 2022 | | 2,161 | |||||||||
Citigroup Inc | 1.3% 01 Apr 2016 | | 2,987 | |||||||||
CNOOC Finance | 4.25% 09 May 2043 | | 2,232 | |||||||||
CNPC General Capital | 3.95% 19 Apr 2022 | | 2,557 | |||||||||
Comcast Corp | 5.65% 15 Jun 2035 | | 1,284 | |||||||||
Comm Mortgage Trust | 1.0% 10 Dec 2049 | | 747 | |||||||||
Continental Resources | 4.5% 15 Apr 2023 | | 738 | |||||||||
Contl Airlines | 4.0% 29 Apr 2026 | | 2,240 | |||||||||
Contl Airlines | 5.983% 19 Oct 2023 | | 3,733 | |||||||||
Cox Communications Inc | 5.45% 15 Dec 2014 | | 415 | |||||||||
Credit Suisse Mortgage Trust | 1.0% 15 Jan 2049 | | 4,662 | |||||||||
Crown Castle Towers LLC | 3.214% 15 Aug 2035 | | 1,350 | |||||||||
Delhaize Group | 4.125% 10 Apr 2019 | | 4,289 | |||||||||
Deluxe Corp | 6.0% 15 Nov 2020 | | 7,452 | |||||||||
Dolphin Energy Ltd | 5.5% 15 Dec 2021 | | 2,894 | |||||||||
Dun & Bradstreet Corp | 3.25% 01 Dec 2017 | | 1,874 | |||||||||
Ecopetrol SA | 5.875% 18 Sep 2023 | | 629 | |||||||||
Ecopetrol SA | 7.375% 18 Sep 2043 | | 2,441 | |||||||||
Embarq Corp | 7.995% 01 Jun 2036 | | 8,447 | |||||||||
Energy Transfer Partners | 6.05% 01 Jun 2041 | | 5,837 |
21
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Energy Transfer Partners | 5.2% 01 Feb 2022 | | 1,185 | |||||||||
Enersis SA/Cayman Island | 7.375% 15 Jan 2014 | | 2,057 | |||||||||
Equifax Inc | 7.0% 01 Jul 2037 | | 2,943 | |||||||||
Firstenergy Corp | 2.75% 15 Mar 2018 | | 1,887 | |||||||||
Ford Motor Co | 7.45% 16 Jul 2031 | | 3,893 | |||||||||
Ford Motor Credit Co LLC | 5.75% 01 Feb 2021 | | 4,451 | |||||||||
Ford Motor Credit Co LLC | 5.0% 15 May 2018 | | 5,753 | |||||||||
Freeport Mcmoran | 2.375% 15 Mar 2018 | | 2,642 | |||||||||
Frontier Communications | 7.875% 15 Jan 2027 | | 3,687 | |||||||||
Frontier Communications | 8.5% 15 Apr 2020 | | 3,486 | |||||||||
GCCFC Commercial Mortgage | 5.736% 10 Dec 2049 | | 1,775 | |||||||||
GE Equipment | 0.6% 23 May 2016 | | 8,537 | |||||||||
General Elec Cap Corp | 5.3% 11 Feb 2021 | | 4,444 | |||||||||
General Elec Cap Corp | 3.75% 14 Nov 2014 | | 5,797 | |||||||||
General Elec Cap Corp | 2.95% 09 May 2016 | | 2,634 | |||||||||
General Motors Finl Co | 6.75% 01 Jun 2018 | | 1,208 | |||||||||
Georgia Pacific LLC | 7.37% 01 Dec 2025 | | 2,124 | |||||||||
Georgia Pacific LLC | 7.25% 01 Jun 2028 | | 4,071 | |||||||||
Georgia Pacific LLC | 7.75% 15 Nov 2029 | | 3,102 | |||||||||
Georgia Pacific LLC | 8.875% 15 May 2031 | | 92 | |||||||||
Goldman Sachs Group | 6.15% 01 Apr 2018 | | 3,797 | |||||||||
Goldman Sachs Group | 5.25% 27 Jul 2021 | | 3,407 | |||||||||
Grupo Televisa Sab | 7.25% 14 May 2043 | | 1,638 | |||||||||
GS Mortgage Securities Trust | 1.0% 10 Aug 2045 | | 6,689 | |||||||||
HCA Inc | 7.5% 15 Feb 2022 | | 5,451 | |||||||||
Intl Lease Finance Corp | 6.25% 15 May 2019 | | 9,462 | |||||||||
Intl Lease Finance Corp | 3.875% 15 Apr 2018 | | 4,647 | |||||||||
Ipic Gmtn Ltd | 6.875% 01 Nov 2041 | | 4,137 | |||||||||
JP Morgan Chase & Co | 3.7% 20 Jan 2015 | | 1,775 | |||||||||
JP Morgan Chase & Co | 4.25% 15 Oct 2020 | | 632 | |||||||||
JP Morgan Chase & Co | 4.625% 10 May 2021 | | 999 | |||||||||
JP Morgan Chase & Co | 4.5% 24 Jan 2022 | | 3,432 | |||||||||
Lotte Shopping Co Ltd | 3.375% 09 May 2017 | | 3,051 | |||||||||
Methanex Corp | 3.25% 15 Dec 2019 | | 2,563 | |||||||||
Mexichem Sab DE CV | 6.75% 19 Sep 2042 | | 2,768 | |||||||||
ML CFC Commercial Mortgage Trust | 1.0% 12 Mar 2051 | | 1,311 | |||||||||
Morgan Stanley | 5.5% 24 Jul 2020 | | 4,295 | |||||||||
Morgan Stanley | 5.55% 27 Apr 2017 | | 3,693 | |||||||||
Morgan Stanley | 5.375% 15 Oct 2015 | | 926 | |||||||||
Morgan Stanley | 5.5% 26 Jan 2020 | | 2,453 | |||||||||
Morgan Stanley Capital I Trust | 1.0% 12 Apr 2049 | | 9,232 | |||||||||
Morgan Stanley Capital I Trust | 5.569% 15 Dec 2044 | | 8,785 | |||||||||
Myriad Int Holding BV | 6.375% 28 Jul 2017 | | 1,917 | |||||||||
Myriad Int Holding BV | 6.0% 18 Jul 2020 | | 3,604 | |||||||||
Nabors Industries Inc | 5.1% 15 Sep 2023 | | 4,363 | |||||||||
National Rural Util Coop | 1.0% 30 Apr 2043 | | 2,282 | |||||||||
Newfield Exploration Co | 5.75% 30 Jan 2022 | | 3,001 | |||||||||
Olin Corp | 5.5% 15 Aug 2022 | | 991 | |||||||||
Oshkosh Corp | 8.5% 01 Mar 2020 | | 2,268 |
22
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Perkinelmer Inc | 5.0% 15 Nov 2021 | | 2,940 | |||||||||
Pertamina Persero | 5.625% 20 May 2043 | | 7,137 | |||||||||
Petrobras Global Finance | 5.625% 20 May 2043 | | 2,000 | |||||||||
Petrobras Intl Fin Co | 6.75% 27 Jan 2041 | | 3,512 | |||||||||
Petroleos Mexicanos | 3.5% 18 Jul 2018 | | 1,291 | |||||||||
Phillips 66 | 4.3% 01 Apr 2022 | | 2,153 | |||||||||
Pko Fin Ab | 4.63% 28 Sep 2022 | | 3,164 | |||||||||
Plains Exploration & Pro | 6.875% 15 Feb 2023 | | 4,651 | |||||||||
Polyone Corp | 5.25% 15 Mar 2023 | | 2,324 | |||||||||
Post Holdings Inc | 7.375% 15 Feb 2022 | | 3,259 | |||||||||
Post Holdings Inc | 7.375% 15 Feb 2022 | | 850 | |||||||||
Qtel International Fin | 7.875% 10 Jun 2019 | | 4,452 | |||||||||
Reynolds American Inc | 7.25% 15 Jun 2037 | | 6,513 | |||||||||
Rock Tenn Co | 4.0% 01 Mar 2023 | | 1,708 | |||||||||
Rowan Companies Inc | 5.0% 01 Sep 2017 | | 3,445 | |||||||||
RPM International Inc | 6.125% 15 Oct 2019 | | 3,386 | |||||||||
Santander Drive Auto | 2.7% 15 Aug 2018 | | 1,564 | |||||||||
Santander Drive Auto | 1.94% 15 Dec 2016 | | 6,482 | |||||||||
Santander Drive Auto | 1.94% 15 Mar 2018 | | 1,936 | |||||||||
Sealed Air Corp | 5.25% 01 Apr 2023 | | 1,868 | |||||||||
Sealed Air Corp | 6.5% 01 Dec 2020 | | 1,281 | |||||||||
Sequoia Mortgage Trust | 1.0% 25 May 2043 | | 3,259 | |||||||||
Service Corp Intl | 5.375% 15 Jan 2022 | | 1,274 | |||||||||
Sidewinder Drilling Inc | 9.75% 15 Nov 2019 | | 1,282 | |||||||||
Sk Telecom Co Ltd | 6.625% 20 Jul 2027 | | 3,070 | |||||||||
SLM Corp | 6.25% 25 Jan 2016 | | 8,725 | |||||||||
SLM Corp | 4.875% 17 Jun 2019 | | 4,553 | |||||||||
SM Energy Co | 6.5% 01 Jan 2023 | | 2,292 | |||||||||
Springleaf Funding Trust | 3.92% 16 Jan 2023 | | 4,772 | |||||||||
Sprint Capital Corp | 6.875% 15 Nov 2028 | | 6,116 | |||||||||
Steel Dynamics Inc | 5.25% 15 Apr 2023 | | 795 | |||||||||
Telefonica Emisiones Sau | 5.134% 27 Apr 2020 | | 2,110 | |||||||||
Telefonica Emisiones Sau | 3.992% 18 Feb 2016 | | 2,643 | |||||||||
Telefonica Emisiones Sau | 5.462% 16 Feb 2021 | | 140 | |||||||||
Telemar Norte Leste Sa | 5.5% 23 Oct 2020 | | 3,317 | |||||||||
Thai Oil Pcl | 4.875% 23 Jan 2043 | | 4,270 | |||||||||
Time Warner Cable Inc | 5.875% 15 Nov 2040 | | 917 | |||||||||
Time Warner Cable Inc | 5.5% 01 Sep 2041 | | 1,481 | |||||||||
Time Warner Cable Inc | 4.5% 15 Sep 2042 | | 1,405 | |||||||||
Toyota Motor Credit Corp | 1.75% 22 May 2017 | | 4,524 | |||||||||
Transelec SA | 4.625% 26 Jul 2023 | | 2,549 | |||||||||
Transocean Inc | 6.5% 15 Nov 2020 | | 6,805 | |||||||||
Transport De Gas Peru | 4.25% 30 Apr 2028 | | 4,114 | |||||||||
USG Corp | 9.75% 15 Jan 2018 | | 2,506 | |||||||||
Valeant Pharmaceuticals | 6.375% 15 Oct 2020 | | 1,884 | |||||||||
Verizon Communications | 6.4% 15 Feb 2038 | | 2,528 | |||||||||
Verizon Communications | 3.65% 14 Sep 2018 | | 3,645 | |||||||||
Verizon Communications | 6.55% 15 Sep 2043 | | 8,832 | |||||||||
Votorantim Cimentos SA | 7.25% 05 Apr 2041 | | 2,516 |
23
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Western Union Co | 2.375% 10 Dec 2015 | | 1,152 | |||||||||
Whirlpool Corp | 4.7% 01 Jun 2022 | | 3,163 | |||||||||
Windstream Corp | 8.125% 01 Sep 2018 | | 925 | |||||||||
Windstream Corp | 7.5% 01 Apr 2023 | | 2,396 | |||||||||
Wolverine World Wide | 6.125% 15 Oct 2020 | | 779 | |||||||||
World Financial Network | 3.14% 17 Jan 2023 | | 8,840 | |||||||||
World Financial Network | 1.76% 17 May 2021 | | 9,254 | |||||||||
|
|
|||||||||||
Corporate and Other Obligations |
| $ | 511,173 | |||||||||
|
|
|||||||||||
Synthetic Guaranteed Investment Contracts: |
||||||||||||
Cash & Cash Equivalents | ||||||||||||
* |
State Street Bank & Trust Co | Short-Term Investment Fund | | 121,584 | ||||||||
* |
State Street Bank & Trust Co | Short-Term Investment Fund | | 251,201 | ||||||||
* |
State Street Bank & Trust Co | Short-Term Investment Fund | | 72,851 | ||||||||
|
|
|||||||||||
| 445,636 | |||||||||||
|
|
|||||||||||
U.S. Government and Government Agency Issues | ||||||||||||
California St | 3.0% 01 Dec 2042 | | 12,470 | |||||||||
Contra Costa Ca Cmnty Clg Dist | 3.0% 01 Apr 2043 | | 13,804 | |||||||||
Fannie Mae | 0.25% 31 Dec 2015 | | 125,623 | |||||||||
Fannie Mae | 1.0% 31 Aug 2016 | | 171,465 | |||||||||
Fed HM LN PC Pool 1L1358 | 6.0% 01 Jun 2035 | | 23,805 | |||||||||
Fed HM LN PC Pool 1Q0669 | 4.5% 01 Feb 2099 | | 1,654 | |||||||||
Fed HM LN PC Pool 1Q1159 | 5.0% 01 Dec 2099 | | 14,925 | |||||||||
Fed HM LN PC Pool A89385 | 4.0% 01 Dec 2099 | | 65,062 | |||||||||
Fed HM LN PC Pool C09004 | 5.5% 01 Jul 2035 | | 8,864 | |||||||||
Fed HM LN PC Pool G01843 | 5.75% 01 Mar 2017 | | 14,376 | |||||||||
Fed HM LN PC Pool G03205 | 3.5% 01 Dec 2099 | | 2,817 | |||||||||
Fed HM LN PC Pool G03737 | 5.0% 01 Aug 2038 | | 15,075 | |||||||||
Fed HM LN PC Pool G08542 | 2.625% 20 Nov 2014 | | 76,416 | |||||||||
Fed HM LN PC Pool G12743 | 0.875% 20 Dec 2017 | | 3,450 | |||||||||
Fed HM LN PC Pool J16933 | 1.0% 01 May 2036 | | 979 | |||||||||
Fed HM LN PC Pool J18615 | 1.0% 01 Nov 2037 | | 603 | |||||||||
Fed HM LN PC Pool J18702 | 1.0% 01 May 2038 | | 3,164 | |||||||||
Fed HM LN PC Pool J18832 | 4.5% 01 Oct 2039 | | 402 | |||||||||
Fed HM LN PC Pool J19087 | 3.5% 01 Jul 2042 | | 382 | |||||||||
Fed HM LN PC Pool Q03572 | 6.5% 01 Nov 2037 | | 70,928 | |||||||||
Fed HM LN PC Pool Q11095 | 4.0% 01 Aug 2043 | | 71,323 | |||||||||
Federal Farm Credit Bank | 4.875% 13 Jun 2018 | | 23,192 | |||||||||
Federal Home Loan Mortgage Cor | 3.5% 01 Jul 2042 | | 41,522 | |||||||||
Federal Natl Mtg Assn | 5.5% 01 Jan 2038 | | 39,363 | |||||||||
Florida St Hurricane Catastrop Flsgen | 5.5% 01 Apr 2034 | | 25,002 | |||||||||
FNMA TBA Jan 30 Single Fam | 1.0% 01 Feb 2039 | | 48,268 | |||||||||
FNMA TBA Jan 30 Single Fam | 3.5% 01 Dec 2042 | | 28,395 |
24
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
FNMA Conv 15Yr TBA |
5.0% 01 Aug 2024 | | 54,555 | |||||||||
FNMA Pool 254693 |
2.42% 01 Apr 2017 | | 4,867 | |||||||||
FNMA Pool 725222 |
4.6% 26 May 2015 | | 6,347 | |||||||||
FNMA Pool 725423 |
1.0% 25 Jul 2025 | | 4,726 | |||||||||
FNMA Pool 725424 |
4.0% 07 Oct 2019 | | 2,172 | |||||||||
FNMA Pool 725690 |
3.0% 01 Mar 2027 | | 1,957 | |||||||||
FNMA Pool 725946 |
3.375% 15 Apr 2023 | | 5,745 | |||||||||
FNMA Pool 735141 |
6.375% 15 Jul 2019 | | 0 | |||||||||
FNMA Pool 735667 |
3.0% 01 Apr 2027 | | 38,678 | |||||||||
FNMA Pool 735676 |
3.0% 01 May 2027 | | 10,956 | |||||||||
FNMA Pool 743132 |
4.0% 01 Sep 2041 | | 11,749 | |||||||||
FNMA Pool 745275 |
3.5% 01 Sep 2042 | | 33,691 | |||||||||
FNMA Pool 745327 |
3.875% 16 Jul 2015 | | 0 | |||||||||
FNMA Pool 756363 |
1.0% 31 Mar 2030 | | 3,287 | |||||||||
FNMA Pool 770946 |
1.0% 29 Sep 2014 | | 8,209 | |||||||||
FNMA Pool 776971 |
4.0% 01 Dec 2099 | | 8,565 | |||||||||
FNMA Pool 831540 |
3.5% 01 Dec 2099 | | 10,931 | |||||||||
FNMA Pool 844444 |
2.995% 01 Jul 2020 | | 14,026 | |||||||||
FNMA Pool 888340 |
2.5% 01 Dec 2099 | | 9,882 | |||||||||
FNMA Pool 888521 |
5.0% 01 Jul 2031 | | 5,793 | |||||||||
FNMA Pool 889004 |
5.0% 01 Feb 2043 | | 8,337 | |||||||||
FNMA Pool 889361 |
4.5% 20 Jan 2022 | | 0 | |||||||||
FNMA Pool 914789 |
5.5% 01 Apr 2033 | | 26,874 | |||||||||
FNMA Pool 931745 |
5.5% 01 Feb 2034 | | 47,471 | |||||||||
FNMA Pool 986148 |
5.5% 01 May 2034 | | 34,560 | |||||||||
FNMA Pool AD8529 |
0.10% 06 Feb 2014 | | 12,539 | |||||||||
FNMA Pool AK2989 |
5.5% 01 Aug 2022 | | 35,481 | |||||||||
FNMA Pool AL0139 |
3.0% 01 Oct 2026 | | 15,021 | |||||||||
FNMA Pool AL2891 |
0.01% 14 Jan 2014 | | 51,230 | |||||||||
FNMA Pool AO5515 |
3.0% 01 Apr 2027 | | 10,639 | |||||||||
FNMA Pool AQ5046 |
0.01% 20 Jan 2014 | | 971 | |||||||||
FNMA Pool AR6071 |
5.0% 15 Nov 2038 | | 634 | |||||||||
FNMA TBA 30Yr Single Family |
4.5% 01 Aug 2040 | | 134,014 | |||||||||
FNMA TBA Single Family Mortgage |
3.0% 01 May 2027 | | 29,412 | |||||||||
Freddie Mac |
1.5% 31 Dec 2018 | | 112,102 | |||||||||
Illinois St |
0.25% 31 Aug 2014 | | 37,596 | |||||||||
Japan Treasury Disc Bill |
2.75% 15 Nov 2023 | | 48,727 | |||||||||
Japan Treasury Disc Bill |
0.625% 15 Nov 2016 | | 41,033 | |||||||||
Met Transprtn Auth NY |
0.125% 15 Apr 2016 | | 14,267 | |||||||||
North Carolina State Education |
6.0% 01 Aug 2034 | | 38,997 | |||||||||
Province of Ontario |
0.125% 30 Apr 2015 | | 55,880 | |||||||||
Province of Quebec |
1.75% 31 Oct 2020 | | 33,962 | |||||||||
Republic Of Indonesia |
0.1% 20 Mar 2014 | | 6,227 | |||||||||
Republic Of Poland |
5.0% 01 Nov 2039 | | 1,260 | |||||||||
Republic Of Poland |
1.25% 30 Nov 2018 | | 12,155 | |||||||||
Russia Foreign Bond |
3.625% 15 Feb 2020 | | 4,914 | |||||||||
Sacramento City |
2.5% 30 Apr 2015 | | 13,752 | |||||||||
San Antonio Tx Elec Gas Reve |
1.875% 30 Jun 2015 | | 13,576 | |||||||||
State of Qatar |
1.875% 30 Apr 2014 | | 7,989 |
25
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Treasury Bill |
5.5% 01 Nov 2034 | | 103,092 | |||||||||
Treasury Bill |
1.5% 31 Aug 2018 | | 1,047,065 | |||||||||
Tsy Infl Ix N/B |
0.25% 15 Oct 2015 | | 106,643 | |||||||||
Univ Of Massachusetts Ma Bldg Umafac |
2.5% 15 Aug 2023 | | 13,872 | |||||||||
US Treasury N/B |
5.5% 01 Jan 2035 | | 45,634 | |||||||||
US Treasury N/B |
5.0% 01 Jul 2035 | | 158,457 | |||||||||
US Treasury N/B |
5.0% 01 Jul 2035 | | 106,207 | |||||||||
US Treasury N/B |
5.0% 01 Oct 2018 | | 200,908 | |||||||||
US Treasury N/B |
5.0% 01 Feb 2036 | | 53,007 | |||||||||
US Treasury N/B |
6.0% 01 Mar 2036 | | 42,239 | |||||||||
US Treasury N/B |
1.0% 01 Dec 2033 | | 168,146 | |||||||||
US Treasury N/B |
5.0% 01 Apr 2034 | | 9,944 | |||||||||
US Treasury N/B |
5.0% 01 Apr 2034 | | 86,279 | |||||||||
US Treasury N/B |
6.0% 01 Jun 2036 | | 33,745 | |||||||||
US Treasury N/B |
5.0% 01 Dec 2035 | | 127,008 | |||||||||
US Treasury N/B |
5.0% 01 Aug 2036 | | 61,346 | |||||||||
US Treasury N/B |
1.0% 01 Mar 2034 | | 52,452 | |||||||||
US Treasury N/B |
1.0% 01 Aug 2037 | | 213,812 | |||||||||
US Treasury N/B |
6.0% 01 Mar 2038 | | 41,137 | |||||||||
US Treasury N/B |
5.0% 01 Apr 2037 | | 51,058 | |||||||||
US Treasury N/B |
1.375% 30 Sep 2018 | | 524,898 | |||||||||
US Treasury N/B |
0.875% 4/30/20 17 | | 75,158 | |||||||||
US Treasury N/B |
0.75% 31 Oct 2017 | | 68,835 | |||||||||
US Treasury N/B |
1.625% 15 Nov 2022 | | 539,158 | |||||||||
US Treasury N/B |
1.75% 15 May 2023 | | 157,098 | |||||||||
US Treasury N/B |
0.25% 31 May 2015 | | 38,531 | |||||||||
US Treasury N/B |
6.5% 15 Nov 2026 | | 1,620 | |||||||||
US Treasury N/B |
2.125% 31 May 2015 | | 1,007,954 | |||||||||
US Treasury N/B |
1.75% 31 May 2016 | | 266,961 | |||||||||
US Treasury N/B |
0.25% 31 Jan 2014 | | 873,748 | |||||||||
US Treasury N/B |
1.375% 31 Jul 2018 | | 400,425 | |||||||||
|
|
|||||||||||
$ | 8,665,522 | |||||||||||
|
|
|||||||||||
Corporate and Other Obligations |
||||||||||||
21st Century Fox America Company |
4.5% 15 Feb 2021 | | 11,124 | |||||||||
ABN AMRO Bank N.V. |
2.5% 30 Oct 2018 | | 13,120 | |||||||||
ABN AMRO Bank N.V. |
4.25% 02 Feb 2017 | | 11,559 | |||||||||
ABN AMRO Bank N.V. |
2.5% 30 Oct 2018 | | 14,727 | |||||||||
Ace Ina Holdings Company |
5.6% 15 May 2015 | | 5,319 | |||||||||
Agilent Technologies Inc |
6.5% 01 Nov 2017 | | 15,768 | |||||||||
Alcoa Inc |
6.75% 15 Jul 2018 | | 12,909 | |||||||||
Allegheny Technologies |
5.87% 15 Aug 2023 | | 14,973 | |||||||||
Allegheny Technologies |
5.95% 15 Jan 2021 | | 3,356 | |||||||||
Allied World Assurance |
7.5% 01 Aug 2016 | | 5,106 | |||||||||
Ally Auto Receivables Trust |
0.72% 20 May 2016 | | 21,088 | |||||||||
Ally Master Owner Trust |
1.54% 15 Sep 2019 | | 33,587 | |||||||||
Ally Master Owner Trust |
1.0% 15 Feb 2018 | | 13,761 |
26
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Ally Master Owner Trust | 1.0% 15 Feb 2018 | | 19,293 | |||||||||
Altria Group Inc |
4.75% 05 May 2021 | | 24,588 | |||||||||
Amazon.Com Inc |
0.65% 27 Nov 2015 | | 27,212 | |||||||||
America Movil |
3.625% 30 Mar 2015 | | 19,899 | |||||||||
American Express |
0.59% 15 May 2018 | | 16,031 | |||||||||
American Express |
0.68% 15 Mar 2018 | | 29,029 | |||||||||
American Intl Group |
4.875% 15 Sep 2016 | | 15,543 | |||||||||
American Intl Group |
5.45% 18 May 2017 | | 12,051 | |||||||||
American Intl Group |
3.8% 22 Mar 2017 | | 6,045 | |||||||||
American Intl Group |
4.875% 01 Jun 2022 | | 8,692 | |||||||||
American Intl Group |
6.4% 15 Dec 2020 | | 27,078 | |||||||||
American Tower Corp |
5.05% 01 Sep 2020 | | 10,974 | |||||||||
Americredit Automobile Receivables |
0.96% 09 Jan 2017 | | 16,095 | |||||||||
Americredit Automobile Receivables |
0.49% 08 Apr 2016 | | 6,667 | |||||||||
Americredit Automobile Receivables |
0.92% 09 Apr 2018 | | 18,194 | |||||||||
Americredit Automobile Receivables |
0.96% 09 Apr 2018 | | 7,559 | |||||||||
Americredit Automobile Receivables |
1.55% 08 Jul 2016 | | 19,476 | |||||||||
Anadarko Petroleum Corp |
6.375% 15 Sep 2017 | | 24,757 | |||||||||
Aon Plc |
3.5% 30 Sep 2015 | | 13,644 | |||||||||
Apple Inc |
1.0% 03 May 2018 | | 10,295 | |||||||||
Asciano Finance |
3.125% 23 Sep 2015 | | 13,369 | |||||||||
AT&T Inc |
5.8% 15 Feb 2019 | | 12,669 | |||||||||
AT&T Inc |
1.0% 27 Nov 2018 | | 20,642 | |||||||||
Baidu Inc |
2.25% 28 Nov 2017 | | 5,434 | |||||||||
Baidu Inc |
3.25% 06 Aug 2018 | | 8,038 | |||||||||
* |
Bank of America |
6.4% 28 Aug 2017 | | 27,037 | ||||||||
* |
Bank of America |
6.875% 25 Apr 2018 | | 6,852 | ||||||||
* |
Bank of America |
6.0% 01 Sep 2017 | | 20,774 | ||||||||
* |
Bank of America |
1.0% 15 Jan 2019 | | 25,672 | ||||||||
* |
Bank of America |
5.65% 01 May 2018 | | 4,142 | ||||||||
* |
Bank of America |
7.625% 01 Aug 2019 | | 5,684 | ||||||||
* |
Bank of America |
5.625% 01 Jul 2020 | | 26,028 | ||||||||
* |
Bank of America |
5.7% 24 Jan 2022 | | 1,068 | ||||||||
* |
Bank of America |
3.875% 22 Mar 2017 | | 3,452 | ||||||||
* |
Bank of America |
5.42% 15 Mar 2017 | | 8,890 | ||||||||
* |
Bank of America |
5.49% 15 Mar 2019 | | 26,856 | ||||||||
* |
Bank of America |
6.1% 15 Jun 2017 | | 9,726 | ||||||||
* |
Bank of America |
3.75% 12 Jul 2016 | | 12,752 | ||||||||
* |
Bank of America |
2.6% 15 Jan 2019 | | 8,393 | ||||||||
* |
Bank of America |
6.05% 18 May 2016 | | 12,011 | ||||||||
* |
Bank of America |
6.875% 25 Apr 2018 | | 4,781 | ||||||||
* |
Bank of America |
1.03% 15 Dec 2016 | | 10,729 | ||||||||
Barclays Bank |
5.125% 08 Jan 2020 | | 11,208 | |||||||||
Barrick NA Finance LLC |
4.4% 30 May 2021 | | 21,022 | |||||||||
Barrick NA Finance LLC |
4.4% 30 May 2021 | | 4,905 | |||||||||
* |
Baxter International Inc |
1.85% 15 Jan 2017 | | 5,994 | ||||||||
BBVA US |
4.664% 09 Oct 2015 | | 26,495 | |||||||||
Bear Stearns Commercial Mortgage |
1.0% 11 Jun 2040 | | 30,682 | |||||||||
Bear Stearns Commercial Mortgage |
1.0% 11 Sep 2038 | | 7,513 |
27
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Bear Stearns Commercial Mortgage | 1.0% 11 Sep 2038 | | 1,578 | |||||||||
Bear Stearns Commercial Mortgage |
5.533% 12 Oct 2041 | | 175 | |||||||||
Bear Stearns Commercial Mortgage |
1.0% 12 Jan 2045 | | 21,951 | |||||||||
Bear Stearns Cos LLC |
7.25% 01 Feb 2018 | | 24,368 | |||||||||
Berkshire Hathaway Fin |
1.6% 15 May 2017 | | 18,370 | |||||||||
BNP Paribas |
2.4% 12 Dec 2018 | | 25,528 | |||||||||
Boston Properties L P |
3.7% 15 Nov 2018 | | 7,535 | |||||||||
BP Capital Markets Plc |
1.846% 05 May 2017 | | 25,864 | |||||||||
BP Capital Markets Plc |
4.5% 01 Oct 2020 | | 13,105 | |||||||||
BP Capital Markets Plc |
1.375% 06 Nov 2017 | | 10,087 | |||||||||
BPCE SA |
5.7% 22 Oct 2023 | | 7,349 | |||||||||
British Telecom Plc |
1.625% 28 Jun 2016 | | 11,421 | |||||||||
British Telecom Plc |
1.625% 28 Jun 2016 | | 13,324 | |||||||||
Bunge Limited Finance Co |
8.5% 15 Aug 2019 | | 8,312 | |||||||||
Burlingtn North Santa Fe |
5.75% 15 Mar 2018 | | 8,297 | |||||||||
Canadian National Railways Co |
1.45% 15 Dec 2018 | | 25,789 | |||||||||
Capital Auto Receivables |
0.79% 20 Jun 2017 | | 12,511 | |||||||||
Capital One |
5.25% 21 Feb 2017 | | 11,075 | |||||||||
Capital One |
1.0% 15 Mar 2017 | | 15,506 | |||||||||
Capital One |
1.5% 22 Mar 2018 | | 36,698 | |||||||||
Carmax Auto Owner Trust |
0.84% 15 Mar 2017 | | 43,691 | |||||||||
Carmax Auto Owner Trust |
0.89% 15 Sep 2016 | | 11,847 | |||||||||
Carmax Auto Owner Trust |
1.41% 16 Feb 2016 | | 21,430 | |||||||||
Caterpillar Financial |
1.0% 25 Nov 2018 | | 26,397 | |||||||||
CBS Corp |
8.875% 15 May 2019 | | 5,859 | |||||||||
CBS Corp |
5.75% 15 Apr 2020 | | 7,716 | |||||||||
CD Commercial Mortgage Trust |
5.322% 28 Jun 2016 | | 41,326 | |||||||||
Cellco Part/Veri Wirelss |
8.5% 15 Nov 2018 | | 11,604 | |||||||||
Centerpoint Energy Resources |
4.5% 15 Jan 2021 | | 2,875 | |||||||||
CF Industries Inc |
7.125% 01 May 2020 | | 24,960 | |||||||||
Chase |
1.3% 18 Feb 2020 | | 12,437 | |||||||||
CIT Equipment Collateral |
1.1% 22 Aug 2016 | | 5,017 | |||||||||
CIT Equipment Collateral |
1.13% 20 Jul 2020 | | 12,690 | |||||||||
Citifinancial Mortgage |
1.0% 25 Jan 2033 | | 1,536 | |||||||||
Citigroup Commercial Mortgage |
1.0% 10 Dec 2049 | | 12,058 | |||||||||
Citigroup Commercial Mortgage |
5.431% 15 Oct 2045 | | 6,764 | |||||||||
Citigroup Commercial Mortgage |
1.0% 15 Mar 2049 | | 7,834 | |||||||||
Citigroup Inc |
5.375% 09 Aug 2020 | | 13,186 | |||||||||
Citigroup Inc |
4.5% 14 Jan 2022 | | 13,283 | |||||||||
Citigroup Inc |
6.01% 15 Jan 2015 | | 16,350 | |||||||||
Citigroup Inc |
5.375% 09 Aug 2020 | | 12,143 | |||||||||
Citigroup Inc |
4.5% 14 Jan 2022 | | 21,081 | |||||||||
Cleveland Electric |
5.7% 01 Apr 2017 | | 6,074 | |||||||||
CNH Equipment Trust |
0.63% 17 Jan 2017 | | 10,409 | |||||||||
CNH Equipment Trust |
0.49% 15 Mar 2017 | | 12,735 | |||||||||
CNH Equipment Trust |
0.94% 15 May 2017 | | 7,451 | |||||||||
CNH Equipment Trust |
1.74% 17 Jan 2017 | | 13,501 | |||||||||
Coca Cola Co |
3.3% 01 Sep 2021 | | 37,797 | |||||||||
Coca Cola Co |
3.2% 01 Nov 2023 | | 25,926 |
28
Baxter Healthcare of Puerto Rico
Savings and Investment Plan
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
Employer Identification Number: 66-0678126 and Plan Number 024
December 31, 2013
Identity of Issue |
Description of Investment |
Cost (1) | Current Value | |||||||||
Comcast Corp |
5.15% 01 Mar 2020 | | 9,171 | |||||||||
Comcast Corp |
4.95% 15 Jun 2016 | | 4,856 | |||||||||
Comcast Corp |
6.5% 15 Jan 2017 | | 5,404 | |||||||||
Comm Mortgage Trust |
3.147% 15 Aug 2045 | | 6,378 | |||||||||
Comm Mortgage Trust |
1.0% 10 Jul 2045 | | 26,806 | |||||||||
Comm Mortgage Trust |
1.0% 10 Oct 2046 | | 22,670 | |||||||||
Comm Mortgage Trust |
1.8726% 12 Apr 2035 | | 6,508 | |||||||||
Comm Mortgage Trust |
3.689% 10 Aug 2046 | | 25,403 | |||||||||
Conagra Foods Inc |
1.9% 25 Jan 2018 | | 28,578 | |||||||||
Cons Edison Co |
5.3% 01 Dec 2016 | | 24,122 | |||||||||
Constellation Energy |
5.15% 01 Dec 2020 | | 2,495 | |||||||||
Consumers Energy |
6.12% 15 Mar 2019 | | 8,744 | |||||||||
Countrywide Finl Corp |
6.25% 15 May 2016 | | 2,171 | |||||||||
Coventry Health Care Inc |
6.125%1/15/2015 | | 854 | |||||||||
Coventry Health Care Inc |
5.95%3/15/2017 | | 2,590 | |||||||||
Coventry Health Care Inc |
6.3%8/15/2014 | | 7,254 | |||||||||
Cox Communications Inc |
6.2% 01 Jun 2018 | | 24,903 | |||||||||
Crane Co |
2.75% 15 Dec 2018 | | 4,292 | |||||||||
Credit Based Asset Servicing |
1.0% 25 Jan 2033 | | 3,254 | |||||||||
Credit Suisse |
6.5% 08 Aug 2023 |