-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GiIc/QnUkIusOOkasnZGKwN0+dKPedM+MNpwx1EXAkdUxAKa976jtUUMIQCZiAw3 Y87hZpFJ8/zZqecbo37Umg== 0000950152-01-501223.txt : 20010501 0000950152-01-501223.hdr.sgml : 20010501 ACCESSION NUMBER: 0000950152-01-501223 CONFORMED SUBMISSION TYPE: 10-K405/A PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20010430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRW INC CENTRAL INDEX KEY: 0000100030 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 340575430 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K405/A SEC ACT: SEC FILE NUMBER: 001-02384 FILM NUMBER: 1616212 BUSINESS ADDRESS: STREET 1: 1900 RICHMOND RD CITY: CLEVELAND STATE: OH ZIP: 44124 BUSINESS PHONE: 2162917000 MAIL ADDRESS: STREET 1: 1900 RICHMOND ROAD CITY: CLEVELAND STATE: OH ZIP: 44124 10-K405/A 1 l87978ae10-k405a.htm TRW INC. 10-K405/A TRW Inc. Amendment to 10-K405
TABLE OF CONTENTS

PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
SIGNATURES
EX-23(a)-CONSENT OF INDEPENDENT AUDITORS
EX-99-FIN STMTS-TRW CANADA STOCK SAVINGS PLAN


SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 10-K/A NO. 1

(Mark One)

     
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2000

OR

     
[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from      to
Commission file number 1-2384

TRW Inc.
(Exact name of registrant as specified in its charter)

     
Ohio
(State or other jurisdiction of
incorporation or organization)
34-0575430
(I.R.S. Employer Identification No.)
 
1900 Richmond Road, Cleveland, Ohio
(Address of principal executive offices)
44124
(Zip Code)

(216) 291-7000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

     
Name of each exchange
Title of each class on which registered


Common Stock, par value $0.625 per share New York Stock Exchange
Chicago Stock Exchange
Pacific Exchange
Philadelphia Stock Exchange
 
Cumulative Serial Preference Stock II,
$4.40 Convertible Series 1
New York Stock Exchange
 
Cumulative Serial Preference Stock II,
$4.50 Convertible Series 3
New York Stock Exchange

 


Table of Contents

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes   X       No       

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ X ]

The aggregate market value of the registrant’s voting and non-voting common equity held by non-affiliates was $4,634,741,631 as of March 1, 2001. This amount was computed on the basis of the closing price of the registrant’s voting securities included in the NYSE-Composite Transactions report for such date, as published in the Midwest edition of The Wall Street Journal.

As of March 1, 2001 there were 124,648,806 shares of TRW Common Stock, $0.625 par value, outstanding.

The following documents have been incorporated herein by reference to the extent indicated herein:

     
TRW Proxy Statement related to Annual Meeting of
Shareholders to be held on April 25, 2001
Part III
 
TRW Annual Report to Security Holders for the year ended
December 31, 2000
Parts I, II and IV


Table of Contents

The Registrant hereby amends Part IV, Item 14 of its Annual Report on Form 10-K for the year ended December 31, 2000 solely for the purpose of filing the financial statements for the year ended December 31, 2000 of The TRW Canada Stock Savings Plan, and the related consent, in accordance with Rule 15d-21 under the Securities Exchange Act of 1934. Any information not expressly amended by this filing shall remain as set forth in the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2000, as filed with the Commission on March 13, 2001.

PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.

(a) Financial Statements and Schedules

  (1)   Financial Statements
 
      The following financial statements of the registrant and its subsidiaries included in the TRW 2000 Annual Report are incorporated herein by reference:
 
      Statements of Operations – Years ended December 31, 2000, 1999 and 1998 (page 48)
 
      Balance Sheets – December 31, 2000 and 1999 (page 49)
 
      Statements of Cash Flows – Years ended December 31, 2000, 1999 and 1998 (page 50)
 
      Statements of Changes in Shareholders’ Investment – Years ended December 31, 2000, 1999 and 1998 (page 51)
 
      Notes to Financial Statements – (pages 52 — 72)
 
  (2)   Financial Statement Schedules
 
      All Schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are not applicable and, therefore, have been omitted.
 
      Financial statements and summarized financial information of unconsolidated subsidiaries and 50 percent or less owned persons accounted for by the equity method have been omitted because such subsidiaries and persons, considered individually or in the aggregate, do not constitute a significant subsidiary.

2


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(3) Exhibits

     
3(a) Amended Articles of Incorporation as amended May 5, 1997 (Exhibit 3(a) to TRW Quarterly Report on Form 10-Q for the quarter ended March 31, 1997, is incorporated herein by reference).
3(b) Regulations as amended April 30, 1980 (Exhibit 3(b) to TRW Annual Report on Form 10-K for the year ended December 31, 1980, is incorporated herein by reference).
4(a) Indenture between TRW Inc. and The Chase Manhattan Bank (National Association), as successor Trustee, dated as of May 1, 1986 (Exhibit 2 to TRW Form 8-A Registration Statement dated July 3, 1986, is incorporated herein by reference).
4(b) First Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank (National Association), as successor Trustee, dated as of July 26, 1989 (Exhibit 4(b) to TRW Form S-3 Registration Statement, File No. 33-30350, is incorporated herein by reference).
4(c) Second Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank, as successor Trustee, dated as of June 2, 1999 (Exhibit 4(c) to TRW Registration Statement on Form S-4, filed July 20, 1999, File No. 333-83227, is incorporated herein by reference).
4(d) Third Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank, as successor Trustee, dated as of June 2, 1999 (Exhibit 4(d) to TRW Registration Statement on Form S-4, filed July 20, 1999, File No. 333-83227, is incorporated herein by reference).
4(e) Fourth Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank, as successor Trustee, dated as of June 2, 1999 (Exhibit 4(e) to TRW Registration Statement on Form S-4, filed July 20, 1999, File No. 333-83227, is incorporated herein by reference).
4(f) Fifth Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank, as successor Trustee, dated as of June 2, 1999 (Exhibit 4(f) to TRW Registration Statement on Form S-4, filed July 20, 1999, File No. 333-83227, is incorporated herein by reference).
4(g) Sixth Supplemental Indenture between TRW Inc. and The Chase Manhattan Bank, as successor Trustee, dated as of June 2, 1999 (Exhibit 4(g) to TRW Registration Statement on Form S-4, filed July 20, 1999, File No. 333-83227, is incorporated herein by reference).
4(h) Distribution Agreement, dated November 17, 1999, between TRW Inc. and each of Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co. and J.P. Morgan Securities Inc., regarding $2,500,000,000 Medium-Term Notes, Series E, due nine months or more from the date of issue (Exhibit 1 to TRW Inc.’s Current Report on Form 8-K dated November 18, 1999, is incorporated herein by reference).
4(i) Form of Medium Term Note, Series E (Exhibit 2 to TRW Inc.’s Current Report on Form 8-K dated November 18, 1999, is incorporated herein by reference).
*10(a) 1979 Stock Option Plan as amended April 28, 1982 (Exhibit A to TRW Proxy

3


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Statement dated March 18, 1982, is incorporated herein by reference).
*10(b) TRW Operational Incentive Plan (Exhibit 10(b) to TRW Annual Report on Form 10-K for the year ended December 31, 1989, is incorporated herein by reference).
+*10(c) TRW Executive Health Care Plan as amended and restated effective June 6, 2000.
*10(d) 1984 Stock Option Plan (Exhibit A to TRW Proxy Statement dated March 19, 1984, is incorporated herein by reference).
*10(e) 1989 TRW Long-Term Incentive Plan (Exhibit A to TRW Proxy Statement dated March 17, 1989, is incorporated herein by reference).
*10(f) 1994 TRW Long-Term Incentive Plan as amended and restated effective February 4, 1997 (Exhibit 10(f) to TRW Annual Report on Form 10-K for the year ended December 31, 1996, is incorporated herein by reference).
*10(g) 1997 TRW Long-Term Incentive Plan (Exhibit A to TRW Proxy Statement dated March 12, 1997, is incorporated herein by reference).
*10(h) Amendment dated as of December 9, 1998 to 1997 TRW Long-Term Incentive Plan (Exhibit 10(h) to TRW Annual Report on Form 10-K for the year ended December 31, 1998, is incorporated herein by reference).
*10(i) 2000 TRW Long-Term Incentive Plan (Exhibit A to TRW Proxy Statement dated March 17, 2000, is incorporated herein by reference).
*10(j) Form of Nonqualified Stock Option Agreement (Exhibit 10(i) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
*10(k) Form of Transferable Nonqualified Stock Option Agreement (Exhibit 10(j) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
*10(l) Form of Director Transferable Nonqualified Stock Option Agreement (Exhibit 10(c) to TRW Quarterly Report on Form 10-Q for the quarter ended March 31, 2000, is incorporated herein by reference).
*10(m) Form of Stock Option Agreement Qualified under the laws of France (Exhibit 10(l) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
+*10(n) Form of U.S. Long-Term Restricted Stock Agreement.
+*10(o) Form of Non-U.S. Long-Term Restricted Stock Agreement.
+*10(p) Deferred Compensation Plan for Non-Employee Directors of TRW Inc. as amended and restated January 1, 2001.
*10(q) TRW Directors’ Pension Plan as amended and restated effective August 1, 1990 (Exhibit 10(l) to TRW Annual Report on Form 10-K for the year ended

4


Table of Contents

     
December 31, 1990, is incorporated herein by reference).
*10(r) Amendment to the TRW Directors’ Pension Plan (as Amended and Restated Effective August 1, 1990) effective June 30, 1997 (Exhibit 10(n) to TRW Annual Report on Form 10-K for the year ended December 31, 1997, is incorporated herein by reference).
*10(s) Form of Amended and Restated Employment Continuation Agreements with executive officers (Exhibit 10(k) to TRW Annual Report on Form 10-K for the year ended December 31, 1995, is incorporated herein by reference).
+*10(t) TRW Inc. Deferred Compensation Plan (as Amended and Restated Effective January 1, 2001).
+*10(u) TRW Benefits Equalization Plan (as Amended and Restated Effective January 1, 2001).
*10(v) TRW Supplementary Retirement Income Plan (as Amended and Restated Effective January 1, 1999) (Exhibit 10(t) to TRW Annual Report on Form 10-K for the year ended December 31, 1998, is incorporated herein by reference).
*10(w) TRW Inc. Key Executive Life Insurance Plan dated as of February 7, 1996 (Exhibit 10(v) to TRW Annual Report on Form 10-K for the year ended December 31, 1995, is incorporated herein by reference).
*10(x) TRW Inc. Financial Counseling Program (Exhibit 10(w) to TRW Annual Report on Form 10-K for the year ended December 31, 1995, is incorporated herein by reference).
+*10(y) BDM International, Inc. Defined Contribution Supplemental Executive Retirement Plan dated October 8, 1993.
*10(z) Consulting Agreement dated September 18, 1997 between TRW Inc. and G. H. Heilmeier (Exhibit 10(b) to TRW Quarterly Report on Form 10-Q for the quarter ended September 30, 1997, is incorporated herein by reference).
*10(aa) Amendment dated December 7, 1999 to Consulting Agreement dated September 18, 1997, between TRW Inc. and G.H. Heilmeier (Exhibit 10(w) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
+*10(bb) Amendment dated February 21, 2001 to Consulting Agreement dated September 18, 1997, between TRW Inc. and G. H. Heilmeier.
*10(cc) Letter Agreement, dated April 28, 1999, between TRW and Carl Hahn regarding services as an Advisory Director of TRW (Exhibit 10(c) to TRW Quarterly Report on Form 10-Q for the quarter ended June 30, 1999, is incorporated herein by reference).
*10(dd) TRW Inc. Stock Plan for Non-Employee Directors (as Amended and Restated Effective August 1, 1995) (Exhibit 10.1 to TRW Quarterly Report on Form 10-Q for the quarter ended June 30, 1995, is incorporated herein by reference).
*10(ee) Employment Agreement dated as of November 20, 1997 between TRW Inc. and Philip A. Odeen (Exhibit 10(ff) to TRW Annual Report on Form 10-K for the year

5


Table of Contents

     
ended December 31, 1997, is incorporated herein by reference).
+*10(ff) Amended and Restated Employment Agreement by and between TRW Inc. and David M. Cote, dated as of February 21, 2001.
+*10(gg) Service Agreement among Lucas Limited, LucasVarity plc and John C. Plant dated April 17, 1997.
+*10(hh) Letter Agreement dated May 13, 1998 between LucasVarity plc and John C. Plant.
+*10(ii) Amendment No. 1 to Service Agreement, dated February 15, 2000, between LucasVarity Limited and John C. Plant, including Change of Control Agreement dated February 15, 2000 as the Fourth Schedule thereto.
+*10(jj) Letter Agreement dated February 8, 2001 between TRW Inc. and Joseph T. Gorman.
+*10(kk) Consulting Agreement dated February 8, 2001 between TRW Inc. and Joseph T. Gorman.
*10(ll) Form of 1998-2000 Strategic Incentive Program Grant (Exhibit 10(cc) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
+*10(mm) Form of 2001-2002 Strategic Incentive Program Grant.
+*10(nn) Form of 2001-2003 Strategic Incentive Program Grant.
10(oo) Five-Year Credit Agreement dated as of January 25, 2000 among TRW Inc., the lenders party thereto, the Chase Manhattan Bank as Administrative Agent, Chase Manhattan International Limited as London Agent and Salomon Smith Barney Inc. as Syndication Agent (Exhibit 10(dd) to TRW Annual Report on Form 10-K for the year ended December 31, 1999, is incorporated herein by reference).
+10(pp) 364-Day Credit Agreement dated as of January 23, 2001 among TRW Inc., the lenders party thereto, the Chase Manhattan Bank as Administrative Agent, J.P. Morgan, a division of Chase Securities, Inc., as Joint-Lead Arranger and Joint-Book Manager and Salomon Smith Barney Inc. as Syndication Agent, Joint-Lead Arranger and Joint-Book Manager.
10(qq) Purchase Agreement, dated May 26, 1999, between TRW and Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc. and Salomon Smith Barney Inc., as representatives of the initial purchasers named therein (Exhibit 10(a) to TRW Quarterly Report on Form 10-Q for the quarter ended June 30, 1999, is incorporated herein by reference).
10(rr) Purchase Agreement, dated June 18, 1999, between TRW and Goldman, Sachs & Co., as representative of the initial purchasers named therein (Exhibit 10(b) to TRW Quarterly Report on Form 10-Q for the quarter ended June 30, 1999, is incorporated herein by reference).
+12 Computation of Ratio of Earnings to Fixed Charges — Unaudited (Supplement to Exhibit 12 of the following Registration Statements of the Company: No. 333-89133 on Form S-3 and No. 333-48443 on Form S-3).

6


Table of Contents

     
+13 Portions of the TRW Annual Report to Security Holders for the year ended December 31, 2000, incorporated herein by reference.
+21 Subsidiaries of the Registrant.
+23 Consent of Independent Auditors.
++23(a) Consent of Independent Auditors (with respect to the financial statements of The TRW Canada Stock Savings Plan).
++99 Financial Statements of The TRW Canada Stock Savings Plan.
+24 Power of Attorney.

  Certain instruments with respect to long-term debt have not been filed as exhibits as the total amount of securities authorized under any one of such instruments does not exceed 10 percent of the total assets of the registrant and its subsidiaries on a consolidated basis. The registrant agrees to furnish to the Commission a copy of each such instrument upon request.
 
  * Management contract, compensatory plan or arrangement required to be filed as an exhibit pursuant to Item 14(c) of this report.
 
  + Filed with TRW’s Annual Report on Form 10-K for the year ended December 31, 2000, as filed with the Commission on March 13, 2001.
 
  ++ Filed with this Form 10-K/A No. 1.

(b) Reports on Form 8-K

      None.

7


Table of Contents

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

         
TRW Inc.
 
Date: April 30, 2001
 
By /s/ WILLIAM B. LAWRENCE

William B. Lawrence,
Executive Vice President, General Counsel and Secretary

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

         
Signature Title Date



J. T. GORMAN*
D. M. COTE*
C. G. MILLER*
T. A. CONNELL*
M. H. ARMACOST*
Chairman of the Board and Director
Chief Executive Officer and Director
Executive Vice President and Chief Financial Officer
Vice President and Corporate Controller
Director
M. FELDSTEIN*
R. M. GATES*
G. H. HEILMEIER*
K. N. HORN*
D. B. LEWIS*
L. M. MARTIN*
J. D. ONG*
Director
Director
Director
Director
Director
Director
Director
April 30, 2001

William B. Lawrence, by signing his name hereto, does hereby sign and execute this report on behalf of each of the above-named officers and Directors of TRW Inc., pursuant to a power of attorney executed by each of such officers and Directors and filed with the Securities and Exchange Commission as an exhibit to this report.

April 30, 2001

     
*By /s/ WILLIAM B. LAWRENCE

William B. Lawrence, Attorney-in-fact

8 EX-23.A 2 l87978aex23-a.htm EX-23(A)-CONSENT OF INDEPENDENT AUDITORS EX-23(a)-CONSENT OF INDEPENDENT AUDITORS

Exhibit 23(a)

CONSENT OF INDEPENDENT AUDITORS

We consent to the incorporation by reference of our report dated March 8, 2001, with respect to the financial statements of The TRW Canada Stock Savings Plan for the year ended December 31, 2000, included as Exhibit 99 to the TRW Inc. Annual Report on Form 10-K/A No. 1 for the year ended December 31, 2000, in TRW Inc.’s Registration Statement No. 333-06633 on Form S-8 pertaining to The TRW Canada Stock Savings Plan and the related prospectus.

/s/ Ernst & Young LLP

ERNST & YOUNG LLP

Hamilton, Canada
April 30, 2001

  EX-99 3 l87978aex99.htm EX-99-FIN STMTS-TRW CANADA STOCK SAVINGS PLAN EX-99-FIN STMTS-TRW CANADA STOCK SAVINGS PLAN

Exhibit 99

Financial Statements

THE TRW CANADA STOCK SAVINGS PLAN
December 31, 2000 and 1999

 


REPORT OF INDEPENDENT AUDITORS

To the Participants and the Board of Administration of
The TRW Canada Stock Savings Plan

We have audited the statements of financial condition of the TRW Stock Fund, Pooled Money Market Fund Employees Profit Sharing Plan, Pooled Balanced Fund Registered Retirement Savings Plan and Pooled Money Market Fund Registered Retirement Savings Plan [constituting The TRW Canada Stock Savings Plan] as at December 31, 2000 and 1999 and the related statements of operations and changes in fund equity for these funds for the years then ended. These financial statements are the responsibility of the company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in Canada. Those standards require that we plan and perform an audit to obtain reasonable assurance 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.

In our opinion, these financial statements present fairly, in all material respects, the financial position of the several funds of The TRW Canada Stock Savings Plan as at December 31, 2000 and 1999 and the results of their operations and the changes in fund equity for the years then ended in accordance with accounting principles generally accepted in Canada.

     
Hamilton, Canada, /s/ Ernst & Young LLP
March 8, 2001. Chartered Accountants

 


The TRW Canada Stock Savings Plan
TRW Stock Fund

STATEMENTS OF FINANCIAL CONDITION

As at December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
ASSETS
Cash 11,107 5,246
Receivable from TRW Canada Limited 138,306 87,163
Investments at quoted market value
TRW Inc. common stock
20,367 shares [cost $1,390,023] in 2000 and
13,089 shares [cost $957,618] in 1999 1,183,437 981,170

1,332,850 1,073,579

LIABILITIES AND FUND EQUITY
Withdrawals, terminations, and short-term distributions 903,887 828,383
Fund equity [including net unrealized appreciation of investments] 428,963 245,196

1,332,850 1,073,579

Number of shares outstanding at December 31 20,367 13,089

Fund equity per share at December 31 22.9816 18.7329

See accompanying notes

 


The TRW Canada Stock Savings Plan
TRW Stock Fund

STATEMENTS OF OPERATIONS AND
CHANGES IN FUND EQUITY

Years ended December 31

                             
2000 1999
$ $

[expressed in Canadian dollars]
 
INVESTMENT INCOME
Dividends on TRW Inc. common stock 16,461 11,030
Interest 539 34

17,000 11,064

CONTRIBUTIONS
Participants 707,339 455,563
TRW Canada Limited
50% of total participants’ contributions to all funds
597,775 440,952

1,305,114 896,515

Net realized gain on transfer of investments to participants [note 4] 71,011 90,527
Unrealized depreciation of investments [note 4] (230,138 ) (82,077 )

(159,127 ) 8,450

1,162,987 916,029

Less withdrawals and terminations
Paid
Cash 1,288 1,583
TRW Inc. common stock 1,161 shares in 2000; 713 shares in 1999 74,045 55,970

75,333 57,553

Payable
Cash 11,436 7,979
TRW Inc. common stock 15,589 shares in 2000; 11,594 shares in 1999 892,451 820,404

903,887 828,383

979,220 885,936

Increase in fund equity 183,767 30,093
 
Fund equity at January 1 245,196 215,103

Fund equity at December 31 428,963 245,196

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Money Market Fund Employees Profit Sharing Plan

STATEMENTS OF FINANCIAL CONDITION

As at December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
ASSETS
Cash 21 11,879
Receivable from TRW Canada Limited 23,409 22,019
Investments at market value
Royal Trust Company Classified Money Market Fund
25,186 units [cost $251,863] in 2000 and
22,325 units [cost $223,250] in 1999
251,863 223,250

275,293 257,148

LIABILITIES AND FUND EQUITY
Withdrawals, terminations, and short-term distributions 218,947 211,299
Fund equity 56,346 45,849

275,293 257,148

Number of units outstanding at December 31 5,634.6 4,584.9

Fund equity per unit at December 31 10.0 10.0

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Money Market Fund Employees Profit Sharing Plan

STATEMENTS OF OPERATIONS AND
CHANGES IN FUND EQUITY

Years ended December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
Interest income 8,905 5,506
Participants’ contributions 238,091 230,976

246,996 236,482

Less cash withdrawals and terminations
Paid 31,715 20,126
Payable 204,784 205,424

236,499 225,550

Increase in fund equity 10,497 10,932
Fund equity at January 1 45,849 34,917

Fund equity at December 31 56,346 45,849

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Balanced Fund Registered Retirement Savings Plan

STATEMENTS OF FINANCIAL CONDITION

As at December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
ASSETS
Cash 9 9,021
Receivable from TRW Canada Limited 18,964 12,653
Dividends receivable 18,692 5,077
Investments at quoted market value
Royal Trust Company Classified Balanced Fund 49,447.5982 units [cost $759,145] in 2000 and 40,584.5417 units [cost $565,355] in 1999 869,927 686,045

907,592 712,796

LIABILITIES AND FUND EQUITY
Withdrawals, terminations, and short-term distributions 43,045 13,503
Fund equity [including net unrealized appreciation of investments] 864,547 699,293

907,592 712,796

Number of units outstanding at December 31 49,447.5982 40,584.5417

Fund equity per unit at December 31 17.4841 17.230

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Balanced Fund Registered Retirement Savings Plan

STATEMENTS OF OPERATIONS AND
CHANGES IN FUND EQUITY

Years ended December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
Income 49,441 25,558

Contributions
Participants’ contributions 183,056 136,422

Net realized gain on disposition of investments [note 4] 34,021 10,587
Unrealized (depreciation) appreciation of investments [note 4] (9,908 ) 42,821

24,113 53,408

256,610 215,388

Less cash withdrawals and terminations
Paid 48,311 89,062
Payable 43,045 13,503

91,356 102,565

Increase in fund equity 165,254 112,823
 
Fund equity at January 1 699,293 586,470

Fund equity at December 31 864,547 699,293

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Money Market Fund Registered Retirement Savings Plan

STATEMENTS OF FINANCIAL CONDITION

As at December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
ASSETS
Cash 1 5,177
Receivable from TRW Canada Limited 6,699 5,695
Investments at market value
Royal Trust Company Classified Pooled Money Market Fund 30,690 units [cost $306,899] in 2000 and 23,897 units [cost $238,966] in 1999 306,899 238,966

313,599 249,838

LIABILITIES AND FUND EQUITY
Withdrawals, terminations, and short-term distributions 9,075
Fund equity 304,524 249,838

313,599 249,838

Number of units outstanding at December 31 30,452.4 24,983.8

Fund equity per unit at December 31 10.0 10.0

See accompanying notes

 


The TRW Canada Stock Savings Plan
Pooled Money Market Fund Registered Retirement Savings Plan

STATEMENTS OF OPERATIONS AND
CHANGES IN FUND EQUITY

Years ended December 31

                           
2000 1999
$ $

[expressed in Canadian dollars]
 
Interest income 15,069 12,336
Participants’ contributions 67,391 59,633

82,460 71,969

Less cash withdrawals and terminations
Paid 18,699 91,888
Payable 9,075

27,774 91,888

Increase (decrease) in fund equity 54,686 (19,919 )
 
Fund equity at January 1 249,838 269,757

Fund equity at December 31 304,524 249,838

See accompanying notes

 


The TRW Canada Stock Savings Plan

NOTES TO FINANCIAL STATEMENTS

December 31, 2000 and 1999

1. GENERAL PLAN PROVISIONS

The investment programs of The TRW Canada Stock Savings Plan [the “Plan"] are as follows:

Participant contributions

Upon enrollment or re-enrollment, each participant directs that his contributions [computed in increments of one percent, from two percent to six percent of qualifying compensation] are to be invested in accordance with any of the following investment options:

     
[a] 100% in the TRW Stock Fund [the common stock of TRW Inc. in accordance with the Trust agreement and the Plan].
 
[b] 100% in the Pooled Money Market Fund Employees Profit Sharing Plan. At present, the Trustee invests all of the Pooled Money Market Fund amounts in the Royal Trust Company, Classified Money Market Fund in accordance with the Trust agreement and the Plan.
 
[c] 100% in the Pooled Balanced Fund Registered Retirement Savings Plan. At present, the Trustee invests all of the Pooled Balanced Fund amounts in the Royal Trust Company, Classified Balanced Fund, in accordance with the Trust agreement and the Plan.
 
[d] 100% in the Pooled Money Market Fund Registered Retirement Savings Plan. At present, the Trustee invests all of the Pooled Money Market Fund amounts in the Royal Trust Company, Classified Pooled Money Market Fund in accordance with the Trust agreement and the Plan.
 
[e] A combination of options [a] through [d] in multiples of 25%.

Such direction may be revised on 30 days prior notice, effective January 1 of any year.

TRW Canada Limited contributions

TRW Canada Limited shall contribute to the Plan for each month, out of current or accumulated earnings, an amount equal to 50% of participant contributions for such month. TRW Canada Limited contributions vest immediately.

All TRW Canada Limited contributions are invested in the TRW Stock Fund.

TRW Canada Limited does not charge a fee for administering the Plans.

1


The TRW Canada Stock Savings Plan

NOTES TO FINANCIAL STATEMENTS

December 31, 2000 and 1999

The number of participants in each Fund at December 31 is as follows:

                         
2000 1999
# #


TRW Stock Fund 586 245
Pooled Money Market Fund Employees Profit Sharing Plan 128 75
Pooled Balanced Fund Registered Retirement Savings Plan 153 62
Pooled Money Market Fund Registered Retirement Savings Plan 62 39

The total number of participants in the Plan is less than the sum of the number of participants shown above because many are participating in more than one Fund.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in accordance with accounting principles generally accepted in Canada, and are within the framework of the accounting policies summarized below.

Gains and losses on investments

The realized gains or losses on disposition or transfer of an investment are determined from the market value of the investment at the date of disposition or transfer and the average cost base of that specific pool of investments prior to the disposition or transfer.

Unrealized gains or losses are determined as the net effect of the change in appreciation (depreciation) of investments from January 1 to December 31, based on market value and the average cost base of each investment at those respective dates.

Income recognition

Dividends are recognized as earned.

Interest income is recognized as it is earned consistent with the accrual basis of accounting.

2


The TRW Canada Stock Savings Plan

NOTES TO FINANCIAL STATEMENTS

December 31, 2000 and 1999

3. INCOME TAXES

The Plan is exempt from Canadian federal income taxes under provisions of the Income Tax Act. Federal income tax consequences to the participants under the Plan are as provided in the Income Tax Act. TRW Canada Limited contributions are taxable to the participants as is the income and all post-1971 capital gains less post-1971 capital losses of the Plan, all of which are allocated to the participants by the Trustee during the year, whether or not such amounts are paid to the participants by the Trustee during the year. In some circumstances, the amounts taxable could exceed the amounts allocated. The amount of foreign non-business income tax paid on foreign source income by the trusts under the Plan for the year is allocated to and deemed to have been paid by the participants for Canadian federal income tax purposes. Participants who are non-resident taxpayers are subject to special rules depending on whether they have performed duties in Canada during the year and are subject to 15% withholding tax on amounts paid or credited to them under the Plan.

4. UNREALIZED AND REALIZED (LOSSES) GAINS

Investments are stated at their quoted market value. The net unrealized appreciation (depreciation) of investments included in fund equity is as follows:

                           
TRW Pooled
Stock Balanced
Fund Fund
$ $

[expressed in Canadian dollars]
 
Balance at December 31, 1998 105,629 77,869
Change for the year
Market value (82,077 ) 42,821

Balance at December 31, 1999 23,552 120,690
Change for the year
Market value (230,138 ) (9,908 )

Balance at December 31, 2000 (206,586 ) 110,782

3


The TRW Canada Stock Savings Plan

NOTES TO FINANCIAL STATEMENTS

December 31, 2000 and 1999

The net realized gains on the transfer or disposition of investments are summarized as follows:

                         
TRW Stock Fund

2000 1999
$ $

[expressed in Canadian dollars]
 
Amount realized 926,829 942,356
Cost — average 855,818 851,829

Net realized gain 71,011 90,527

 
Pooled Balanced Fund
Registered Retirement
Savings Plan

2000 1999
$ $

[expressed in Canadian dollars]
 
Amount realized 181,059 66,113
Cost — average 147,038 55,526

Net realized gain 34,021 10,587

5. RELATED PARTY TRANSACTIONS

All expenses related to The TRW Canada Stock Savings Plan are paid by TRW Canada Limited.

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