-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, rnYETYc0MJX5hIFJY90bWZGyQdqpKZfXHzCA3PG6v9QNkNMJSlIV0yQYrZ1+aY5v Tx/44lfzj0JrBcHYnyvRkA== 0000950005-95-000126.txt : 19950619 0000950005-95-000126.hdr.sgml : 19950619 ACCESSION NUMBER: 0000950005-95-000126 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950616 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATKINS JOHNSON CO CENTRAL INDEX KEY: 0000105006 STANDARD INDUSTRIAL CLASSIFICATION: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812] IRS NUMBER: 941402710 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05631 FILM NUMBER: 95547495 BUSINESS ADDRESS: STREET 1: 3333 HILLVIEW AVE CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 4154934141 MAIL ADDRESS: STREET 1: 3333 HILLVIEW AVENUE CITY: PALO ALTO STATE: CA ZIP: 94304-1223 11-K 1 FORM 11-K WATKINS-JOHNSON EMPLOYEES' -------------------------- PROFIT SHARING INVESTMENT PLAN ------------------------------ FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES For the Years Ended December 31, 1994 and 1993 and Independent Auditors' Report WATKINS-JOHNSON EMPLOYEES' PROFIT SHARING INVESTMENT PLAN TABLE OF CONTENTS - -------------------------------------------------------------------------------- Page INDEPENDENT AUDITORS' REPORT .......................................... 1 FINANCIAL STATEMENTS AS OF DECEMBER 31, 1994 AND 1993 AND FOR THE YEARS THEN ENDED: Statements of Net Assets Available for Benefits with Fund Information ..................................................... 2-3 Statements of Changes in Net Assets Available for Benefits with Fund Information ........................................... 4-5 Notes to Financial Statements ...................................... 6-8 SUPPLEMENTAL SCHEDULES AS OF DECEMBER 31, 1994 AND FOR THE YEAR THEN ENDED: Schedule 1--Assets Held For Investment Purposes .................... 9 Schedule 2--Reportable Transactions ................................ 10-11 DELOITTE & TOUCHE LLP - ---------------------- [LOGO] --------------------------------------------------------------- 50 Fremont Street Telephone: (415) 247-4000 San Francisco, California 94105-2230 Facsimile: (415) 247-4329 INDEPENDENT AUDITORS' REPORT The Administrative Committee, Watkins-Johnson Employees' Profit Sharing Investment Plan: We have audited the accompanying statements of net assets available for benefits of Watkins-Johnson Employees' Profit Sharing Investment Plan (the "Plan") as of December 31, 1994 and 1993, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. 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 text 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, such financial statements present fairly, in all material respects, the net assets of the Plan at December 31, 1994 and 1993, and the changes in its net assets for the years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules, listed in the foregoing table of contents, are presented for the purpose of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The Fund Information in the Statement of Net Assets Available for Benefits and Statement of Changes in Net Assets Available for Benefits is presented for purposes of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. These supplemental schedules' fund information is the responsibility of the Plan's management. Such supplemental schedules have been subjected to the auditing procedures applied in our audit of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. DELOITTE & TOUCHE LLP April 28, 1995 - --------------- DELOITTE TOUCHE TOHMATSU INTERNATIONAL - --------------- WATKINS-JOHNSON EMPLOYEES' PROFIT SHARING INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION, DECEMBER 31, 1994
RETIREMENT WATKINS- GOVERNMENT FIXED INCOME MAGELLAN OTC BALANCED JOHNSON TOTAL MONEY MARKET FUND FUND PORTFOLIO FUND STOCK FUND ------------ ---------- ----------- ----------- ---------- ----------- ---------- Assets: Cash and cash equivalents ..... $ 190,313 -- -- -- -- -- $ 190,313 Deposit contracts ............. 48,771,667 -- $48,771,667 -- -- -- -- ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 48,961,980 -- 48,771,667 -- -- -- 190,313 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Investments (at fair value): Fidelity mutual funds ......... 48,457,948 $2,908,248 1,196,343 $21,518,558 $6,421,503 $16,413,296 -- Corporate stocks .............. 2,726,713 -- -- -- -- -- 2,726,713 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 51,184,661 2,908,248 1,196,343 21,518,558 6,421,503 16,413,296 2,726,713 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Investments ........... 100,146,641 2,908,248 49,968,010 21,518,558 6,421,503 16,413,296 2,917,026 Receivables: Employer contributions ........ 3,194,198 57,908 823,131 971,749 391,467 802,049 147,894 Interest and dividends ........ 11,123 -- -- -- -- -- 11,123 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 3,205,321 57,908 823,131 971,749 391,467 802,049 159,017 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Assets ................ 103,351,962 2,966,156 50,791,141 22,490,307 6,812,970 17,215,345 3,076,043 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Liabilities: Expenses payable .............. 15,065 473 7,223 3,341 1,033 2,524 471 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Liabilities ........... 15,065 473 7,223 3,341 1,033 2,524 471 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Net Assets Available for Benefits.................. $103,336,897 $2,965,683 $50,783,918 $22,486,966 $6,811,937 $17,212,821 $3,075,572 ============ ========== =========== =========== ========== =========== ========== See notes to financial statements.
-2- WATKINS-JOHNSON EMPLOYEES' PROFIT SHARING INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION, DECEMBER 31, 1993
RETIREMENT WATKINS- GOVERNMENT FIXED INCOME MAGELLAN OTC BALANCED JOHNSON TOTAL MONEY MARKET FUND FUND PORTFOLIO FUND STOCK FUND ------------ ---------- ----------- ----------- ---------- ----------- ---------- Assets: Cash and cash equivalents ..... $ 105,079 -- -- -- -- -- $ 105,079 Deposit contracts ............. 50,241,350 -- $50,241,350 -- -- -- -- ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 50,346,429 -- 50,241,350 -- -- -- 105,079 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Investments (at fair value): Fidelity mutual funds ......... 46,606,070 $2,440,515 934,526 $19,780,727 $5,788,756 $17,661,546 -- Corporate stocks .............. 1,403,035 -- -- -- -- -- 1,403,035 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 48,009,105 2,440,515 934,526 19,780,727 5,788,756 17,661,546 1,403,035 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Investments ........... 98,355,534 2,440,515 51,175,876 19,780,727 5,788,756 17,661,546 1,508,114 Receivables: Employer contributions ........ 1,901,024 (31,900) 484,367 600,882 257,457 531,952 58,266 Interest and dividends ........ 8,324 -- -- -- -- -- 8,324 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ....................... 1,909,348 (31,900) 484,367 600,882 257,457 531,952 66,590 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Assets ................ 100,264,882 2,408,615 51,660,243 20,381,609 6,046,213 18,193,498 1,574,704 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Liabilities: Expenses payable .............. 7,690 186 3,670 1,714 494 1,490 136 Purchase of securities 30,240 -- -- -- -- -- 30,240 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total Liabilities ........... 37,930 186 3,670 1,714 494 1,490 30,376 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Net Assets Available for Benefits.................. $100,226,952 $2,408,429 $51,656,573 $20,379,895 $6,045,719 $18,192,008 $1,544,328 ============ ========== =========== =========== ========== =========== ========== See notes to financial statements.
-3- WATKINS-JOHNSON EMPLOYEES' PROFIT SHARING INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION, YEAR ENDED DECEMBER 31, 1994
FIDELITY ------------------------------------------------------------------------------------ RETIREMENT WATKINS- GOVERNMENT JOHNSON MONEY FIXED INCOME MAGELLAN OTC BALANCED STOCK TOTAL MARKET FUND FUND PORTFOLIO FUND FUND ------------ ---------- ----------- ----------- ---------- ----------- ---------- ADDITIONS: Investment Earnings: Interest ................... $ 3,490,952 -- $ 3,490,952 -- -- -- -- Dividends .................. 1,645,258 $ 103,107 -- $ 864,469 $ 56,515 $ 566,511 $ 54,656 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total .................... 5,136,210 103,107 $ 3,490,952 864,469 56,515 566,511 54,656 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Net appreciation (depreciation) in fair value of investments...... (2,516,210) -- -- (1,334,633) (239,116) (1,624,707) 682,246 Trustee fees ............... (30,074) (897) (14,822) (6,552) (1,930) (5,118) (755) ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total .................... (2,546,284) (897) (14,822) (1,341,185) (241,046) (1,629,825) 681,491 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total investments earnings ................... 2,589,926 102,210 3,476,130 (476,716) (184,531) (1,063,314) 736,147 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Contributions: Employer ................... 3,194,198 57,908 823,131 971,749 391,467 802,049 147,894 Employee ................... 6,077,422 168,832 1,351,122 1,933,889 774,002 1,649,823 199,754 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total ................... 9,271,620 226,740 2,174,253 2,905,638 1,165,469 2,451,872 347,648 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Total additions ............. 11,861,546 328,950 5,650,383 2,428,922 980,938 1,388,558 1,083,795 ------------ ---------- ----------- ----------- ---------- ----------- ---------- DEDUCTIONS: Distributions to participants .............. (8,751,601) (284,041) (3,444,886) (1,552,084) (493,516) (2,872,449) (104,625) ------------ ---------- ----------- ----------- ---------- ----------- ---------- Increase (decrease) in net assets before interfund transfers ....... 3,109,945 44,909 2,205,497 876,838 487,422 (1,483,891) 979,170 Transfers between funds ..... -- 512,345 (3,078,152) 1,230,233 278,796 504,704 552,074 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Net Increase (decrease) ..... 3,109,945 557,254 (872,655) 2,107,071 766,218 (979,187) 1,531,244 Net assets available for benefits, January 1 .... 100,226,952 2,408,429 51,656,573 20,379,895 6,045,719 18,192,008 1,544,328 ------------ ---------- ----------- ----------- ---------- ----------- ---------- Net assets available for benefits, December 31 .. $103,336,897 $2,965,683 $50,783,918 $22,486,966 $6,811,937 $17,212,821 $3,075,572 ============ ========== =========== =========== ========== =========== ========== See notes to financial statements.
-4- WATKINS-JOHNSON EMPLOYEES' PROFIT SHARING INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION, YEAR ENDED DECEMBER 31, 1993
FIDELITY --------------------------------------------------------------------- RETIREMENT GOVERNMENT MONEY FIXED INCOME MAGELLAN OTC BALANCED TOTAL MARKET FUND FUND PORTFOLIO FUND ------------ ---------- ----------- ----------- ---------- ----------- ADDITIONS: Investment Earnings: Interest ................ $ 4,577,173 $ 6,654 $ 4,568,386 $ 2,133 -- -- Dividends ............... 4,009,329 68,740 -- 1,754,276 $ 740,848 $ 1,415,095 ------------ ---------- ----------- ----------- ---------- ----------- Total .................. 8,586,502 75,394 4,568,386 1,756,409 740,848 1,415,095 ------------ ---------- ----------- ----------- ---------- ----------- Net appreciation (depreciation) in fair value of investments .... 2,343,744 -- -- 1,615,530 (277,450) 767,878 Trustee fees ............. (54,038) (772) (15,400) (17,313) (5,863) (14,160) ------------ ---------- ----------- ----------- ---------- ----------- Total .................. 2,289,706 (772) (15,400) 1,598,217 (283,315) 753,718 ------------ ---------- ----------- ----------- ---------- ----------- Total investments earnings 10,876,208 74,622 4,552,986 3,354,626 457,533 2,168,813 ------------ ---------- ----------- ----------- ---------- ----------- Contributions: Employer ................ 1,901,024 (31,900) 484,367 600,882 257,457 531,952 Employee ................ 5,892,002 143,284 1,531,381 1,671,386 812,594 1,590,046 ------------ ---------- ----------- ----------- ---------- ----------- Total .................. 7,793,026 111,384 2,015,748 2,272,268 1,070,051 2,121,998 ------------ ---------- ----------- ----------- ---------- ----------- Total additions .......... 18,669,234 186,006 6,568,734 5,626,894 1,527,584 4,290,811 ------------ ---------- ----------- ----------- ---------- ----------- DEDUCTIONS: Distributions to participants ............ (6,100,586) (201,075) (3,242,311) (831,891) (274,514) (603,940) ------------ ---------- ----------- ----------- ---------- ----------- Increase (decrease) in net assets before interfund transfers ............... 12,568,648 (15,069) 3,326,423 4,795,003 1,253,070 3,686,871 Transfers between funds... -- 2,423,498 48,330,150 15,584,892 4,792,649 14,505,137 ------------ ---------- ----------- ----------- ---------- ----------- Net increase (decrease)... 12,568,648 2,408,429 51,656,573 20,379,895 6,045,719 18,192,008 Net assets available for benefits, January 1...... 87,658,304 -- -- -- -- -- ------------ ---------- ----------- ----------- ---------- ----------- Net assets available for benefits, December 31 ... $100,226,952 $2,408,429 $51,656,573 $20,379,895 $6,045,719 $18,192,008 ============ ========== =========== =========== ========== ===========
FIB ------------------------------------------------------------- WATKINS- U.S. FIXED JOHNSON SECURITIES INCOME GENERAL STOCK FUND FUND FUND FUND ------------ ------------ ------------ ------------ ADDITIONS: Investment Earnings: Interest ................ -- -- -- -- Dividends ............... $ 30,370 -- -- -- ----------- ----------- ----------- ----------- Total .................. 30,370 -- -- -- ----------- ----------- ----------- ----------- Net appreciation (depreciation) in fair value of investments .... 237,786 -- -- -- Trustee fees.............. (528) -- -- -- ----------- ----------- ----------- ----------- Total .................. 237,258 -- -- -- ----------- ----------- ----------- ----------- Total investments earnings 267,628 -- -- -- ----------- ----------- ----------- ----------- Contributions: Employer ................ 58,266 -- -- -- Employee ................ 143,311 -- -- -- ----------- ----------- ----------- ----------- Total .................. 201,577 -- -- -- ----------- ----------- ----------- ----------- Total additions .......... 469,205 -- -- -- ----------- ----------- ----------- ----------- DEDUCTIONS: Distributions to participants ............ (108,209) -- ($813,846) ($24,800) ----------- ----------- ----------- ----------- Increase (decrease) in net assets before interfund transfers ............... 360,996 -- (813,846) (24,800) Transfers between funds .. 354,015 ($2,504,510) (53,455,154) (30,030,677) ----------- ----------- ----------- ----------- Net increase (decrease) .. 715,011 (2,504,510) (54,269,000) (30,055,477) Net assets available for benefits, January 1 ..... 829,317 2,504,510 54,269,000 30,055,477 ----------- ----------- ----------- ----------- Net assets available for benefits, December 31 ... $ 1,544,328 -- -- -- =========== =========== =========== =========== See notes to financial statements. -5-
WATKINS-JOHNSON COMPANY EMPLOYEES' PROFIT SHARING INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS 1. DESCRIPTION OF PLAN The Watkins-Johnson Employees' Profit Sharing Investment Plan (the Plan) was created by Watkins-Johnson Company effective January 1, 1967. The Plan, amended as of January 1, 1991, conforms to the requirements of the Employee Retirement Income Security Act of 1974 (ERISA), and is in compliance with the Tax Reform Act of 1986. The Plan provides for Company contributions based on profits and voluntary contributions by employees. In addition, on April 1, 1983, Watkins-Johnson Company added the Salary Deferral Plan, known as a 401(k) Plan in reference to the Internal Revenue Code Section 401(k). Employees of Watkins-Johnson Company on a U.S. payroll are generally eligible to participate after 90 days of service. Participant and Company contributions are fully vested. The Fidelity Retirement Government Money Market Portfolio invests in obligations issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, and in repurchase agreements secured by these obligations. The Fixed Income Fund principally consists of the following deposits for unsecured contracts with a fixed interest rate: 1994 1993 ------------ ----------- Bankers Trust Company, interest at 8.48%, matures in June 1995 .... $13,415,630 $13,440,245 Continental Assurance Company, interest at 7.72%, matures in June 1994 .... -- 4,406,787 Continental Assurance Company, interest at 4.90%, 50%, matures in December 1995 50% matures in June 1997 .................... 4,071,426 4,086,907 Continental Assurance Company, interest at .7.43%, matures in December 1999 ............................... 3,944,043 -- Life Insurance Company of Virginia, Interest at 9.43%, matures in June 1994...... -- 4,487,895 Metropolitan Life Insurance Company, interest at 9.59%, matures in June 1994...... -- 10,944,467 New York Life Insurance Company, interest at 7.00%, 50% matures in December 1998 50% matures in June 1999 .................... 7,752,411 -- -6- 1994 1993 ------------ ----------- Protective Life Insurance Company, interest at 8.46%, matures in June 1995 ..... 6,709,673 6,724,371 Provident Life and Accident Insurance Company, interest at 5.10%, 50%, matures in July 1996 50% matures in June 1997 .................... 6,369,304 6,150,678 Sun Life Insurance Company of America, interest at 7.07%, matures in June 1998 ..... 2,449,093 -- Transamerica Occidental Life Insurance Company, interest at 6.74%, 50%, matures in December 1996 50% matures in December 1997 ................ 4,060,087 -- ----------- ----------- Total deposit contracts ..................... 48,771,667 50,241,350 Fidelity Fixed Income Fund .................. 1,196,343 934,526 ----------- ----------- Total Fixed Income Fund ..................... $49,968,010 $51,175,876 =========== =========== The Fidelity Magellan Fund is a growth fund and invests in stock of both well-known and lesser-known foreign and domestic companies with above-average growth potential. The Fidelity OTC Portfolio is a growth fund and invests primarily in securities traded on the over-the-counter securities market including common stocks, preferred stocks, securities convertible into common stocks and debt securities. The Fidelity Balanced Fund is a growth and income fund and invests in investment grade or higher bonds and other high-yielding securities, including common and preferred stocks. The Watkins-Johnson Stock Fund invests primarily in Watkins-Johnson Company's common stock. The U.S. Securities Fund invested in U.S. Government obligations, primarily treasury bills. The General Trust Fund invested primarily in corporate stocks and debt securities. The Plan, as amended, allows all participants to direct future contributions to the funds of their choice daily. The Plan obtained its latest determination letter in December 1985, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, they believe that the Plan was qualified and was tax-exempt as of December 31, 1994. -7- 2. SIGNIFICANT ACCOUNTING POLICIES Cash and cash equivalents are highly liquid investments with a maturity of three months or less. Deposit contracts are stated at cost plus accumulated interest. Investments are stated at fair value based on quoted market prices; the unrealized difference between cost and market is included in determining Plan net assets. Dividend and interest income are recorded on the accrual basis. Administrative expenses incurred on behalf of the Plan are paid by Watkins-Johnson Company except for trustee fees which are paid by the Plan. Such fees are recorded on the accrual basis. Contributions are allocated to individual, eligible participants in the ratio that each such participant's regular compensation bears to the aggregate of such regular compensation for all eligible Plan participants for the Plan year. Forfeitures are allocated to individual, active participants in the ratio that each such participant's regular compensation bears to the aggregate of such regular compensation for all eligible Plan participants for the Plan year. Total forfeitures were $57,668 and $92,266 for 1994 and 1993, respectively. 3. CHANGE IN INVESTMENT OPTIONS In January 1993, the Plan changed administrator and recordkeeper to Fidelity Investments ("Fidelity") from First Interstate Bank (FIB). As a result of this change, Plan participants were allowed to choose investment options among certain Fidelity mutual funds. 4. SUBSEQUENT EVENTS In January 1995, the Plan changed its name to the Watkins-Johnson Employees' Investment Plan and added a Matching Contribution to the 401K Plan. The Matching Contribution replaces the Company Contribution, based on company profits, that was allocated to eligible participants on an annual basis. -8- WATKINS-JOHNSON COMPANY SCHEDULE 1 PROFIT SHARING INVESTMENT PLAN ITEM 27A--SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1994
IDENTITY OF ISSUE DESCRIPTION OF INVESTMENT COST FAIR VALUE - ---------------------------------- ------------------------------------- ----------- ----------- Fidelity Management Trust Company Retirement Government Money Market $ 2,908,248 $ 2,908,248 Bankers Trust Company Fixed Income Fund (Deposit Contracts) 13,415,631 13,415,631 Continental Assurance Company Fixed Income Fund (Deposit Contracts) 8,015,469 8,015,469 New York Life Insurance Company Fixed Income Fund (Deposit Contracts) 7,752,411 7,752,411 Protective Life Insurance Company Fixed Income Fund (Deposit Contracts) 6,709,673 6,709,673 Provident Life and Accident Fixed Income Fund (Deposit Contracts) 6,369,304 6,369,304 Insurance Company Sun Life Insurance Company Fixed Income Fund (Deposit Contracts) 2,449,093 2,449,093 Transamerica Occidental Life Fixed Income Fund (Deposit Contracts) 4,060,087 4,060,087 Insurance Company Fidelity Management Trust Company Fixed Income Fund 1,196,343 1,196,343 Fidelity Management Trust Company Magellan Fund 21,308,063 21,518,557 Fidelity Management Trust Company OTC Portfolio 6,849,876 6,421,503 Fidelity Management Trust Company Balanced Fund 17,132,221 16,413,296 Watkins-Johnson Company Common Stock 2,664,431 2,917,026 ------------ ------------ Total Investments $100,830,850 $100,146,641 ============ ============ (1) See Note 1 to the financial statements.
-9- WATKINS-JOHNSON COMPANY SCHEDULE 2 PROFIT SHARING INVESTMENT PLAN ITEM 27D--SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1994 (ONE OR A SERIES OF TRANSACTIONS EXCEEDING 5% OF THE FAIR VALUE OF THE PLAN ASSETS AT THE BEGINNING OF THE YEAR)
FAIR VALUE IDENTITY OF PARTY DESCRIPTION OF PURCHASE SELLING COST OF OF ASSET ON NET GAIN INVOLVED ASSET PRICE PRICE ASSET TRANSACTION DATE OR (LOSS) - ----------------------- ------------------ ----------- --------- ---------- ---------------- --------- Single Transactions:(1) - ----------------------- CNA Insurance Company Fixed Income Fund $4,000,000 -- $ 4,000,000 $ 4,000,000 * (Deposit Contract) CNA Insurance Company Fixed Income Fund -- $4,945,156 4,945,156 4,945,156 * (Deposit Contract) Metropolitan Life Fixed Income Fund -- 11,391,435 11,391,435 11,391,435 * Insurance Company (Deposit Contract) New York Life Fixed Income Fund 7,600,000 -- 7,600,000 7,600,000 * Insurance Company (Deposit Contract) New York Life Fixed Income Fund -- 101,814 101,814 101,814 * Insurance Company (Deposit Contract) FMTC U.S. Fixed Income Fund 28,019,274 -- 28,019,274 28,019,274 * Government Reserve (Deposit Contract) FMTC U.S. Fixed Income Fund -- 27,847,762 27,847,762 27,847,762 * Government Reserve (Deposit Contract) (1) No expenses were incurred with any reportable transaction. *For each transaction, fair value was equal to cost.
-10- WATKINS-JOHNSON COMPANY SCHEDULE 2 (CONTINUED) PROFIT SHARING INVESTMENT PLAN ITEM 27D--SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1994 (ONE OR A SERIES OF TRANSACTIONS EXCEEDING 5% OF THE FAIR VALUE OF THE PLAN ASSETS AT THE BEGINNING OF THE YEAR)
FAIR VALUE IDENTITY OF PARTY DESCRIPTION OF PURCHASE SELLING COST OF OF ASSET ON NET GAIN INVOLVED ASSET PRICE PRICE ASSET TRANSACTION DATE OR (LOSS) - ----------------------- ------------------ ----------- --------- ---------- ---------------- --------- Series of Transactions:(1) - ----------------------- Various(2) Fixed Income Fund $39,619,274 -- $39,619,274 $39,619,274 -- (Deposit Contracts) (235 Transactions) Various(2) Fixed Income Fund -- $44,286,167 -- 44,286,167 * (Deposit Contracts) (203 Transactions) Fidelity Management Magellan Fund 7,323,902 -- 7,323,902 7,323,902 -- Trust Company (206 Transactions) Fidelity Management Magellan Fund -- 4,251,438 4,181,036 4,251,438 $70,402 Trust Company (148 Transactions) Fidelity Management Balanced Fund 6,862,187 -- 6,862,187 6,862,187 -- Trust Company (211 Transactions) Fidelity Management Balanced Fund -- 6,485,730 6,623,633 6,485,730 (137,903) Trust Company (175 Transactions) Fidelity Management Watkins-Johnson 4,111,424 -- 4,111,424 4,111,424 -- Trust Company Company Fund (193 Transactions) Fidelity Management Watkins-Johnson -- 3,406,376 2,994,765 3,406,376 411,611 Trust Company Company Fund (99 Transactions) Fidelity Management Retirement 3,173,643 -- 3,173,643 3,173,643 -- Trust Company Government Money Market (157 Transactions) Fidelity Management Retirement -- 2,705,910 -- 2,705,910 * Trust Company Government Money Market (111 Transactions) (1) No expenses were incurred with any reportable transaction. (2) See Note 1 to the financial statements. *For each transaction, fair value was equal to cost.
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