e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2010
Or
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 001-15903
A. |
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Full title of the plan and the address of the plan, if different
from that of the issuer named below: |
CARBO Ceramics Inc. Savings and Profit Sharing Plan
B. |
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Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office: |
CARBO Ceramics Inc.
Energy Center II
575 N. Dairy Ashford Rd.
Suite 300
Houston, TX 77079
CARBO Ceramics Inc. Savings and Profit Sharing Plan
Table of Contents
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1 |
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Audited Financial Statements |
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2 |
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3 |
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4 |
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Supplemental Schedule |
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14 |
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15 |
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EX-23 |
Report of Independent Registered Public Accounting Firm
The Compensation Committee
CARBO Ceramics Inc.
We have audited the accompanying statements of net assets available for benefits of the CARBO
Ceramics Inc. Savings and Profit Sharing Plan as of December 31, 2010 and 2009, and the related
statement of changes in net assets available for benefits for the year ended December 31, 2010.
These financial statements are the responsibility of the Plans management. Our responsibility is
to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. We
were not engaged to perform an audit of the Plans internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Plans internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31, 2010 and 2009, and
the changes in its net assets available for benefits for the year ended December 31, 2010, in
conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken
as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December
31, 2010, is presented for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the Department of Labors Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplemental schedule is the responsibility of the Plans management. The supplemental
schedule has been subjected to the auditing procedures applied in our audits of the financial
statements, and, in our opinion, is fairly stated in all material respects in relation to the
financial statements taken as a whole.
/s/ Ernst & Young LLP
New
Orleans, Louisiana
June 29, 2011
1
CARBO Ceramics Inc. Savings and Profit Sharing Plan
Statements of Net Assets Available for Benefits
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December 31 |
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2010 |
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2009 |
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Assets |
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Investments: |
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Mutual funds |
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$ |
27,851,282 |
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$ |
21,549,660 |
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CARBO Ceramics Inc. common stock |
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2,080,727 |
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1,337,593 |
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Guaranteed income fund |
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8,354,729 |
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6,912,254 |
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38,286,738 |
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29,799,507 |
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Receivables: |
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Participant contributions |
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8,566 |
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64,310 |
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Employer match |
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61,636 |
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65,953 |
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Profit-sharing contribution |
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1,600,000 |
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1,100,000 |
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Notes receivable from participants |
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1,345,268 |
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1,133,829 |
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3,015,470 |
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2,364,092 |
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Total assets |
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41,302,208 |
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32,163,599 |
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Net assets available for benefits |
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$ |
41,302,208 |
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$ |
32,163,599 |
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See accompanying notes.
2
CARBO Ceramics Inc. Savings and Profit Sharing Plan
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2010
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Investment income |
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Net appreciation in fair value of investments |
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$ |
4,004,710 |
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Interest and dividends |
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651,459 |
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Total investment gain |
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4,656,169 |
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Interest income |
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Interest income on notes receivable from participants |
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61,291 |
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Contributions |
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Participants |
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2,433,078 |
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Employer match |
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883,265 |
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Profit-sharing contribution |
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1,600,000 |
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Rollovers |
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1,176,879 |
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Total contributions |
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6,093,222 |
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Total additions |
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10,810,682 |
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Deductions |
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Distributions to participants |
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1,631,532 |
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Administrative fees |
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40,541 |
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Total deductions |
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1,672,073 |
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Net increase |
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9,138,609 |
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Net assets available for benefits: |
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Beginning of year |
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32,163,599 |
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End of year |
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$ |
41,302,208 |
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See accompanying notes.
3
CARBO Ceramics Inc. Savings and Profit Sharing Plan
Notes to Financial Statements
December 31, 2010
1. Description of the Plan
The following description of the CARBO Ceramics Inc. Savings and Profit Sharing Plan (the Plan)
provides only general information. Participants should refer to the Plan agreement for a more
complete description of the Plans provisions, which is available from CARBO Ceramics Inc. (the
Company). The Plan is subject to the provisions of the Employee Retirement Income Security Act of
1974 (ERISA).
General
The Plan is a contributory defined contribution plan covering substantially all employees of the
Company and its domestic subsidiaries StrataGen, Inc. and Applied Geomechanics, Inc. Effective
January 1, 2010, the Plan also covers employees of Falcon Technologies and Services, Inc. The Plan
is administered by a compensation committee to which members are appointed by the Board of
Directors. The Plan allows for participants immediate participation in the Plan without regard to
age or service requirements. The entry dates of the Plan are the first day of each month of the
year.
Contributions
Participants may contribute from 2% to 75% of their annual compensation, as defined in the Plan
agreement. In addition, participants age 50 and over have the option to contribute up to an
additional $5,500 in pre-tax contributions through the Plans catch-up contribution provisions.
Participants may also contribute amounts representing distributions from other qualified defined
benefit or defined contribution plans. The Companys discretionary matching contribution to the
Plan is equal to 50% of the participants contribution up to 6% of the participants compensation.
The Company may also elect to make an additional discretionary profit-sharing contribution.
Participants are eligible to receive the discretionary profit-sharing contribution upon the
completion of one year of service, which means 1,000 hours of service in a plan year, and must be
employed on December 31. Allocations of discretionary profit-sharing contributions are made pro
rata based on compensation to eligible participants. During 2010, the Company made discretionary
profit-sharing contributions totaling $1,600,000. All contributions made to the Plan are
participant-directed into various investment options offered by the Plan, and are subject to
certain limitations under the Internal Revenue Code (the Code).
The Company withholds 3% from a participants compensation as a salary reduction deferral unless
the participant elects a greater or lower percentage (including zero) through a salary reduction
agreement.
4
1. Description of the Plan (continued)
During 2010, a contribution accelerator feature was added to the Plan that allows a participant to
automatically increase his or her contribution amount each year.
Participant Accounts
Each participants account is credited with the participants contributions and the Companys
matching contributions and allocations of plan earnings, and is charged with an allocation of
administrative expenses. Plan earnings are allocated based on the participants share of net
earnings and losses of the participants respective elected investment options. Allocations of administrative
expenses are based on the participants account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be provided from the participants vested account.
Administrative Expenses
Plan administrative expenses are paid by either the Company or the Plan, as provided in the Plan
agreement.
Vesting
Participants are immediately 100% vested in employee contributions and plan investment earnings on
those contributions. Employer discretionary matching and discretionary profit-sharing contributions
and plan investment earnings on those contributions vest to individual participants after
attainment of certain years of service. After one year of service, the participant becomes 50%
vested in employer contributions and is 100% vested after two years of service. On the occurrence
of death, retirement, or Plan termination, a participant becomes fully vested in employer
contributions and related earnings.
Participant Loans
In general, participants may borrow from their fund accounts a minimum of $1,000 up to a maximum of
$50,000 or 50% of their vested account balance, whichever is less, following the guidelines in the
Plan agreement. Loan terms range from one to five years or within a reasonable time for the
purchase of a primary residence. The loans are secured by the balance in the participants account
and bear interest at a rate commensurate with local prevailing rates as determined by the Plans
administrator. Principal and interest is paid ratably through monthly payroll deductions.
Distributions to Participants
Upon retirement, death, disability, or termination of employment, participants or their
beneficiaries may receive the vested balance of their accounts in the form of a lump-sum payment or
if eligible, in the form of an IRA rollover. Participants also are allowed to transfer their
account balance to another tax deferred qualified plan. A participant may withdraw all or a portion
of his or her account in the event of financial hardship, as defined in the Plan.
5
1. Description of the Plan (continued)
Forfeitures
Forfeitures of terminated employees nonvested account balances are used to reduce employer
contributions and plan expenses. Unallocated forfeiture balances as of December 31, 2010 and 2009
were approximately $119,000 and $109,000, respectively, and forfeitures used to reduce Company
contributions and plan expenses for 2010 were approximately $19,000.
2. Significant Accounting Policies
Basis of Accounting
The financial statements of the Plan are prepared on the accrual basis of accounting in accordance
with U.S. generally accepted accounting principles.
Reclassifications
Certain prior year amounts in the statement of net assets available for benefits have been
reclassified to conform to the current year presentation.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates that affect the amounts reported in the financial
statements and accompanying notes and schedule. Actual results may differ from those estimates.
Notes Receivable from Participants
Notes receivable from participants represent participant loans that are recorded at their unpaid
principal balance plus any accrued but unpaid interest. Interest income on notes receivable from
participants is recorded when it is earned. Related fees are recorded as administrative expense
and are expensed when they are incurred. No allowance for credit losses has been recorded as of
December 31, 2010 or 2009. If a participant ceases to make loan repayments and the plan
administrator deems the participant loan to be a distribution, the participant loan balance is
reduced and a benefit payment is recorded.
Investment Valuation
Prudential Financial, Inc. (Prudential) is the custodian of the Plan. The Plans funds are invested
in mutual funds, CARBO Ceramics Inc. common stock, and a guaranteed income fund (GIF). Investments
are stated at fair value. Fair value is the price that could be received upon sale of an asset or
paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Mutual funds are valued at the closing fund share price based on market
quotations on the last business day of the Plan year. Common stock is valued at the quoted market
price on the last business day of the Plan year. See Note 3 for discussion of fair value
measurements.
6
2. Significant Accounting Policies (continued)
The investment in the Guaranteed Income Fund invests in the Prudential Retirement Insurance and
Annuity Companys general accounts under a group of annuity contract. The GIF is fully
benefit-responsive and should be reported at fair value in the Plans statement of net assets
available for benefits with a corresponding adjustment to reflect these investments at contract
value. Due to the nature of the GIF, fair value approximates contract value. The investment in the
GIF has no maturity date. Although not invoked in 2010 or 2009, and as explained further in Note 5,
a discontinuance liquidation would result in the return of contract value within 90 days;
therefore, the Company believes a discontinuance payment would be a reasonable determinant of the
fair value and that fair value would approximate contract value due to the discontinuing period
being only 90 days. Contract value is the relevant measurement attributable to fully benefit
responsive investment contracts because contract value is the amount participants would receive if
they were to initiate permitted transactions under the terms of the Plan. The contract value of
the GIF represents contributions plus earnings, less participant withdrawals and administrative
expenses.
Investment Transactions
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded
on the accrual basis. Dividends are recorded on the ex-dividend date.
Risks and Uncertainties
Investment securities, in general, are exposed to various risks, such as interest rate, credit, and
overall market volatility risks. Due to the level of risk associated with certain investment
securities, it is reasonably possible that changes in the values of investment securities will
occur in the near term and that such changes could materially affect the amounts reported in the
statements of net assets available for benefits and participant account balances.
Payment of Benefits
Benefits are recorded when paid.
Recent Accounting Pronouncements
In January 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update
No. 2010-06, Improving Disclosures about Fair Value Measurements (Topic 820) - Fair Value
Measurements and Disclosures (ASU 2010-06) to add additional disclosures about the different
classes of assets and liabilities measured at fair value, the valuation techniques and inputs used,
the activity in Level 3 fair value measurements, and the transfers between Levels 1, 2, and 3.
Levels 1, 2 and 3 of fair value measurements are defined in Note 3 below. Management has adopted
ASU 2010-06 for the year ending December 31, 2010 except for the provisions of this update that
will be effective in the year ending December 31, 2011. Since ASU 2010-06 only affects fair value
measurement disclosures, adoption of ASU 2010-06 did not have an effect on the Plans net assets
available for benefits or its changes in net assets available for benefits.
7
2. Significant Accounting Policies (continued)
In September 2010, the FASB issued Accounting Standards Update 2010-25, Reporting Loans to
Participants by Defined Contribution Pension Plans, (ASU 2010-25). ASU 2010-25 requires
participant loans to be measured at their unpaid principal balances plus any accrued but unpaid
interest and classified as notes receivable from participants. Previously loans were measured at
fair value and classified as investments. ASU 2010-25 is effective for fiscal years ending after
December 15, 2010 and is required to be applied retrospectively. Adoption of ASU 2010-25 did not
change the value of participant loans from the amount previously reported as of December 31, 2009.
Participant loans have been reclassified to notes receivable from participants as of December 31,
2009.
In May 2011, the FASB issued Accounting Standards Update 2011-04, Amendments to Achieve Common Fair
Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS (ASU 2011-04). ASU 2011-04
amended FASB Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures,
to converge the fair value measurement guidance in U.S. generally accepted accounting principles
(GAAP) and International Financial Reporting Standards (IFRSs). Some of the amendments clarify the
application of existing fair value measurement requirements, while other amendments change a
particular principle in ASC 820. In addition, ASU 2011-04 requires additional fair value
disclosures. The amendments are to be applied prospectively and are effective for annual periods
beginning after December 15, 2011. Plan management is currently evaluating the effect that the
provisions of ASU 2011-04 will have on the Plans financial statements.
3. Fair Value Measurements
FASB ASC 820 establishes a framework for measuring fair value. That framework provides a fair value
hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair
value is defined as the price that would be received upon sale of an asset or paid to transfer a
liability in an orderly transaction between market participants at the measurement date, i.e. an
exit price. The hierarchy gives the highest priority to unadjusted quoted prices in active markets
for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable
inputs (Level 3 measurements).
8
3. Fair Value Measurements (continued)
The three levels of the fair value hierarchy under ASC 820 are described below:
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Level 1
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Inputs to the valuation methodology are unadjusted quoted prices for identical assets or
liabilities in active markets that the Plan has the ability to access. |
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Level 2
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Inputs to the valuation methodology include: |
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Quoted prices for similar assets and liabilities in active markets; |
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Quoted prices for identical or similar assets or liabilities in inactive |
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markets; |
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Inputs other than quoted market prices that are observable for the asset or
liability; and |
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Inputs that are derived principally from or corroborated by observable market data
by correlation or other means. |
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If the asset or liability has a specified (contractual) term, the Level 2 input must be
observable for substantially the full term of the asset or liability. |
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Level 3
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Inputs to the valuation methodology are unobservable and significant to the fair value
measurement. |
The assets or liabilitys fair value measurement level within the fair value hierarchy is based on
the lowest level of any input that is significant to the fair value measurement. Valuation
techniques used need to maximize the use of observable inputs and minimize the use of unobservable
inputs.
The valuation methodologies described in Note 2 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. There have
been no changes in the methodologies used at December 31, 2010 and 2009.
9
3. Fair Value Measurements (continued)
The following table sets forth by level, within the fair value hierarchy, the Plans assets at fair
value as of December 31, 2010.
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Assets at Fair Value as of December 31, 2010 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Mutual funds: |
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Domestic equity funds |
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$ |
16,126,478 |
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$ |
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$ |
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$ |
16,126,478 |
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International equity funds |
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6,469,220 |
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6,469,220 |
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Fixed income funds |
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1,934,502 |
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1,934,502 |
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Other |
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258,993 |
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258,993 |
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Asset allocation |
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3,062,089 |
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3,062,089 |
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Common stocks |
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2,080,727 |
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2,080,727 |
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Guaranteed income fund |
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8,354,729 |
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8,354,729 |
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Total assets at fair value |
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$ |
29,932,009 |
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$ |
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$ |
8,354,729 |
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$ |
38,286,738 |
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Assets at Fair Value as of December 31, 2009 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Mutual funds: |
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Domestic equity funds |
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$ |
12,356,920 |
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$ |
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$ |
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$ |
12,356,920 |
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International equity funds |
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4,965,535 |
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4,965,535 |
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Balanced funds |
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2,694,220 |
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2,694,220 |
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Fixed income funds |
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1,392,577 |
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1,392,577 |
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Real estate equity funds |
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140,408 |
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140,408 |
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Common stocks |
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1,337,593 |
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1,337,593 |
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Guaranteed income fund |
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6,912,254 |
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6,912,254 |
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Total assets at fair value |
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$ |
22,887,253 |
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$ |
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$ |
6,912,254 |
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$ |
29,799,507 |
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Level 3 Gains and Losses
The table below sets forth a summary of changes in the fair value of the Plans Level 3 investment
assets for the year ended December 31, 2010.
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Guaranteed |
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Income Fund |
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Balance, beginning of year |
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$ |
6,912,254 |
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Realized gains/(losses) |
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Unrealized gains/(losses) relating to instruments still held
at the reporting date |
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Purchases, sales, issuances and settlements (net) |
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1,442,475 |
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Balance, end of year |
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$ |
8,354,729 |
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10
4. Investments
The Plan allows participants to invest a portion of their retirement savings in common stock of the
Company. Participants can invest up to 20% of any new contributions in the Companys common stock.
Transfers by participants of existing account balances into Company common stock can be performed
at any time, subject to insider trading rules established by the Company, and cannot result in more
than 20% of their total account balance invested in Company common stock.
Each participant is entitled to exercise voting rights attributable to the shares allocated to
their account and is notified by the Company prior to the time that such rights may be exercised.
The trustee is not permitted to vote any allocated shares for which instructions have not been
given by a participant. The trustee votes any unallocated shares in the same proportion as those
shares that were allocated, unless the Committee directs the trustee otherwise. Participants have
the same voting rights in the event of a tender or exchange offer.
Individual investments that represent 5% or more of the Plans assets available for benefits are as
follows:
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December 31 |
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2010 |
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2009 |
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Prudential: |
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Guaranteed Income Fund |
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$ |
8,354,729 |
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$ |
6,912,254 |
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Mutual funds: |
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Goldman Sachs Mid Cap Value A |
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2,165,619 |
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|
|
(a) |
|
Oakmark Equity & Income Fund II |
|
|
3,062,089 |
|
|
|
2,694,220 |
|
American Funds Europacific Growth R4 |
|
|
3,786,484 |
|
|
|
3,133,515 |
|
Growth Fund of America R4 |
|
|
4,529,261 |
|
|
|
3,537,196 |
|
Allianz NFJ Div Value A |
|
|
3,478,378 |
|
|
|
2,584,770 |
|
|
|
|
|
|
|
|
|
|
Common Stock: |
|
|
|
|
|
|
|
|
CARBO Ceramics Inc |
|
|
2,080,727 |
|
|
|
(a) |
|
|
|
|
(a) |
|
Investment is less than 5% |
During 2010, the Plans investments (including gains and losses on investments bought and sold, as
well as held during the year) appreciated in value as follows:
|
|
|
|
|
Mutual funds |
|
$ |
3,275,061 |
|
Common stock |
|
|
729,649 |
|
|
|
|
|
Total |
|
$ |
4,004,710 |
|
|
|
|
|
11
5. Contract With Insurance Companies
The Plan has entered into a group annuity contract issued by Prudential, which is a fully
benefit-responsive investment. Participants may ordinarily direct the withdrawal or transfer of all
or a portion of their account balance at contract value. The account is credited with participant
contributions plus earnings and charged for participant withdrawals and administrative expenses.
The issuer is contractually obligated to repay the principal at a specified interest rate that is
guaranteed to the Plan.
The average yield earned by the Plan was 2.95% for both years ended December 31, 2010 and 2009 .
The average yield earned by the Plan adjusted to reflect the actual interest rate credited to
participants was 2.95% for both years ended December 31, 2010 and 2009. These rates are the same
because all interest credited to the Plan is credited to the participants. Interest is credited on
contract balances using a single portfolio rate approach. Under this methodology, a single
interest crediting rate is applied to all contributions made regardless of the timing of those
contributions. Interest crediting rates are reviewed on a semi-annual basis for resetting.
When establishing interest crediting rates, Prudential considers many factors, including current
economic and market conditions, the general interest rate environment and both the expected and
actual experience of a reference portfolio within the issuers general account. These rates are
established without the use of a specific formula. The minimum crediting rate under the contract is
1.50%.
Events that may limit the ability of the Plan to transact at contract value with the issuer are as
follows: premature termination of the contract by the Plan, plant closures, Company layoffs, Plan
termination, bankruptcy, and Company mergers. The Company has made no such plans for the near
future.
The contract includes a Pool Transfer Limitation (the deferral provision). Prudential has the
contractual right to defer a transfer or distribution. If total distributions and transfers from
the contracts pool exceed 10% of the pools balance as of January 1 in any one calendar year, the
distribution or transfer may be deferred by Prudential. During a deferral provision, any amount
deferred will continue to receive credited interest. Retirement, termination, death or disability
distributions, hardship withdrawals, and distributions required by Code section 401(a)(9) payable
from the guaranteed income fund will be paid and not deferred. The deferral provision was not
invoked in 2010 or 2009.
There are
no events that allow the issuer to terminate the contract and that require the Plan
sponsor to settle at an amount different from contract value paid either within 90 days or over
time.
6. Allocated Amounts
At December 31, 2010, there were no amounts allocable to participants who had elected to withdraw
from the Plan.
12
7. Related-Party Transactions
Certain investments are managed by Prudential, the trustee of the Plan. Certain Plan assets are
also invested in the common stock of the Company. These transactions qualify as party-in-interest
transactions. All of these transactions are exempt from prohibited transaction rules under ERISA
8. Income Tax Status
The underlying nonstandardized prototype plan has received an opinion letter from the Internal
Revenue Service (IRS) dated March 31, 2008, in which the IRS stated that the form of the Plan is
qualified under Section 401(a) of the Code, and therefore, the related trust is exempt. In
accordance with Revenue Procedures 2010-6 and 2005-16, the Plan sponsor has determined that it is
eligible to and has chosen to rely on the current IRS prototype plan opinion letter. Subsequent to
this determination by the IRS, the Plan was amended (and/or restated). Once qualified, the Plan is
required to operate in conformity with the Code to maintain its qualification. The Plan
administrator believes the Plan is being operated in compliance with the applicable requirements of
the Code and, therefore, believes that the Plan, as amended (and/or restated), is qualified and the
related trust is tax-exempt.
Accounting principles generally accepted in the United States require plan management to evaluate
uncertain tax positions taken by the Plan. The financial statement effects of a tax position are
recognized when the position is more likely than not, based on the technical merits, to 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, 2010, there are no uncertain tax positions
taken or expected to be taken. The Plan has recognized no interest or penalties related to
uncertain tax positions. 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 2007.
9. Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to
discontinue its contributions at any time and to terminate the Plan subject to the provisions of
ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
10. Subsequent Events
Effective January 1, 2011, the Plan was amended so that no loan may be made to a participant sooner
than thirty (30) days after the outstanding loan balance of the prior loan has been repaid.
13
CARBO Ceramics Inc. Savings and Profit Sharing Plan
EIN: 72-1100013 PN: 001
Schedule H, Line 4(i) Schedule of Assets (Held at End of Year)
December 31, 2010
|
|
|
|
|
|
|
|
|
|
|
Description of Investment, |
|
|
|
|
|
Including Maturity Date, |
|
|
|
|
|
Rate of Interest, Collateral, |
|
Current |
|
Identity of Issue, Borrower, or Similar Party |
|
Par, or Maturity Value |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
*Prudential Financial, Inc.: |
|
|
|
|
|
|
|
|
Guaranteed Income Fund |
|
|
199,554 units |
|
|
$ |
8,354,729 |
|
|
|
|
|
|
|
|
|
|
Oppenheimer International Small Co. A |
|
|
52,169 units |
|
|
|
1,285,956 |
|
Oppenheimer Developing Markets A |
|
|
34,757 units |
|
|
|
1,267,609 |
|
Loomis Sayles Bond Retail |
|
|
11,175 units |
|
|
|
158,917 |
|
*Prudential Jennison Small Company A |
|
|
82,052 units |
|
|
|
1,665,665 |
|
*Prudential Jennison Natural Resources A |
|
|
4,537 units |
|
|
|
258,993 |
|
American Funds Growth Fund of America R4 |
|
|
150,025 units |
|
|
|
4,529,261 |
|
Goldman Sachs Mid Cap Value A |
|
|
60,324 units |
|
|
|
2,165,619 |
|
Fidelity Adviser Leveraging Co Stock A |
|
|
19,357 units |
|
|
|
666,091 |
|
*Prudential Stock Index Z |
|
|
26,677 units |
|
|
|
737,622 |
|
Davis NY Venture A |
|
|
2,740 units |
|
|
|
94,085 |
|
American Funds Europacific Growth R4 |
|
|
93,080 units |
|
|
|
3,786,484 |
|
Oakmark Equity & Income Fund II |
|
|
110,865 units |
|
|
|
3,062,089 |
|
American Funds Fundamental Investors R4 |
|
|
23,440 units |
|
|
|
858,841 |
|
PIMCO Total Return A |
|
|
152,385 units |
|
|
|
1,653,376 |
|
PIMCO Real Return A |
|
|
3,422 units |
|
|
|
38,877 |
|
Allianz NFJ Dividend Value A |
|
|
306,465 units |
|
|
|
3,478,378 |
|
Allianz NFJ Small Cap Value A |
|
|
18,528 units |
|
|
|
528,787 |
|
Wells Fargo Advantage Small Cap Val Instl |
|
|
13,551 units |
|
|
|
442,046 |
|
Columbia Acorn Z |
|
|
31,801 units |
|
|
|
960,083 |
|
Invesco Global Real Estate A |
|
|
12,408 units |
|
|
|
129,171 |
|
Templeton Global Bond A |
|
|
6,132 units |
|
|
|
83,332 |
|
|
|
|
|
|
|
|
|
|
*CARBO Ceramics Inc. common stock |
|
|
20,096 units |
|
|
|
2,080,727 |
|
|
|
|
|
|
|
|
|
|
*Participant loans |
|
Maturities to 2020, at interest rates ranging from 4.25% to 7.75% |
|
|
1,345,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
39,632,006 |
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Indicates party-in-interest to the Plan. |
14
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator,
which administers the Plan, has duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
|
|
|
|
|
DATE: June 29, 2011 |
CARBO Ceramics Inc. Savings and Profit Sharing Plan
Plan Administrator
|
|
|
By: |
/s/ Ernesto Bautista, III
|
|
|
|
Ernesto Bautista, III |
|
|
|
Vice President and Chief Financial Officer |
|
15
Index to Exhibit
|
|
|
Exhibit number |
|
Description |
23
|
|
Consent of Independent Registered Public Accounting Firm |