-----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, SLZxinyPKJyRDjlH++SeOdyZy3/WSSEPc34JLrmVmVDoKlGzMAqsTWpH6kIvBWiG U1FgE+XC0ycHyUyZMaKOcw== 0000950152-94-001272.txt : 19950105 0000950152-94-001272.hdr.sgml : 19950105 ACCESSION NUMBER: 0000950152-94-001272 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940630 FILED AS OF DATE: 19941227 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS CORP /DE/ CENTRAL INDEX KEY: 0000202058 STANDARD INDUSTRIAL CLASSIFICATION: 3663 IRS NUMBER: 340276860 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03863 FILM NUMBER: 94566292 BUSINESS ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 BUSINESS PHONE: 4077279100 MAIL ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 FORMER COMPANY: FORMER CONFORMED NAME: HARRIS SEYBOLD CO DATE OF NAME CHANGE: 19600201 11-K 1 HARRIS CORPORATION 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. _____________________ FORM 11-K _____________________ (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 1994 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-3863 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: Harris Corporation Retirement Plan Harris Corporation Union Retirement Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Harris Corporation 1025 W. NASA Blvd. Melbourne, Florida 32919 2 HARRIS CORPORATION RETIREMENT PLAN and HARRIS CORPORATION UNION RETIREMENT PLAN ------------------------ FINANCIAL STATEMENTS as of June 30, 1994 and 1993 and for the years then ended and report thereon ------ 3 Harris Corporation Retirement Plan Master Trust Audited Financial Statements and Supplemental Schedules Years ended June 30, 1994 and 1993 CONTENTS Report of Independent Certified Public Accountants...................... 1 Audited Financial Statements Statements of Assets Available for Plan Benefits ....................... 2 Statements of Changes in Assets Available for Plan Benefits ............ 6 Notes to Financial Statements........................................... 10 Supplemental Schedules Assets Held for Investment.............................................. 16 Transactions or Series of Transactions in Excess of Five Percent of the Current Value of Plan Assets..................................... 36 4 [logo] Ernst & Young LLP * CERTIFIED PUBLIC ACCOUNTANTS * Phone: 407 872 6600 Suite 1700 390 North Orange Avenue Orlando, Florida 32801-1671 Report of Independent Certified Public Accountants Investment Committee Harris Corporation Retirement Plan We have audited the accompanying statements of assets available for plan benefits of the Harris Corporation Retirement Plan Master Trust (the "Plan") as of June 30, 1994 and 1993, and the related statements of changes in assets available for plan 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 test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for plan benefits of the Plan at June 30, 1994 and 1993, and the changes in its assets available for plan benefits for the years then ended, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment and series of transactions in excess of five percent of the current value of Plan assets as of June 30, 1994 are presented for purposes of complying with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, and are not a required part of the financial statements. The supplemental schedules have been subjected to the auditing procedures applied in our audit of the 1994 financial statements and, in our opinion, are fairly stated in all material respects in relation to the 1994 financial statements taken as a whole. /s/ Ernst & Young LLP September 30, 1994 1 5 Harris Corporation Retirement Plan Master Trust Statements of Assets Available for Plan Benefits June 30, 1994
BALANCED SHORT-TERM MONEY MARKET EQUITY INCOME FUND BOND FUND FUND FUND ------------ ------------ ------------ ------------ ASSETS Investments (Note 3): U.S. Government securities $153,920,234 $ 64,508,208 $ 990,447 $ - Corporate debt securities 92,953,883 54,863,153 7,841,155 - Corporate preferred and common stock 247,917,667 - - 147,722,780 Wells Fargo Bank Index Fund 69,256,443 - - - J.P. Morgan commingled real estate fund 24,448,259 - - - Participant loans - - - - Unallocated insurance contracts - - - - ------------ ------------ ------------ ------------ Total investments 588,496,486 119,371,361 8,831,602 147,722,780 Receivables: Contribution receivable from Harris Corporation 20,618,310 - - - ------------ ------------ ------------ ------------ Accrued interest and dividends receivable 3,800,669 1,044,240 24,704 - ------------ ------------ ------------ ------------ 24,418,979 1,044,240 24,704 - Cash and cash equivalents (Note 2) 36,048,370 4,274,456 2,302,836 - ------------ ------------ ------------ ------------ Assets available for plan benefits $648,963,835 $124,690,057 $ 11,159,142 $147,722,780 ============ ============ ============ ============ See accompanying notes.
2 6
HARRIS EQUITY INDEX FUND STABLE VALUE GROWTH CORPORATION LOAN FUND FUND FUND STOCK FUND FUND TOTAL - - ----------------- ----------------- ----------------- ----------------- ----------------- ---------------- $ - $ - $ - $ - $ - $ 219,418,889 - - - - - 155,658,191 - - 71,237,273 2,001,242 - 468,878,962 71,332,104 - - - - 140,588,547 - - - - - 24,448,259 - - - - 40,405,954 40,405,954 - 194,629,252 - - - 194,629,252 - - ----------------- ----------------- ----------------- ----------------- ----------------- ---------------- 71,332,104 194,629,252 71,237,273 2,001,242 40,405,954 1,244,028,054 - - - - - 20,618,310 - - ----------------- ----------------- ----------------- ----------------- ----------------- ---------------- - 23,434 - 1,919 - 4,894,966 - - ----------------- ----------------- ----------------- ----------------- ----------------- ---------------- - 23,434 - 1,919 - 25,513,276 1 1,666,512 - 10,727 - 44,302,902 - - ----------------- ----------------- ----------------- ----------------- ----------------- ---------------- $ 71,332,105 $196,319,198 $ 71,237,273 $ 2,013,888 $ 40,405,954 $1,313,844,232 ================= ================= ================= ================= ================= ================ 3
7 Harris Corporation Retirement Plan Master Trust Statements of Assets Available for Plan Benefits June 30, 1993
BALANCED SHORT-TERM MONEY MARKET EQUITY INCOME FUND BOND FUND FUND FUND ------------ ------------ ------------ ------------ ASSETS Investments (Note 3): U.S. Government securities $147,218,142 $ 95,557,708 $ - $ - Corporate debt securities 92,000,442 45,358,621 - - Corporate preferred and common stock 219,210,142 - - 117,890,084 Wells Fargo Bank Index Fund 61,435,107 - - - J.P. Morgan commingled real estate fund 23,038,273 - - - Participant loans - - - - Unallocated insurance contracts - - ------------ ------------ ------------ ------------ Total investments 542,902,106 140,916,329 - 117,890,084 Receivables: Contribution receivable from Harris Corporation 16,025,634 - - - Accrued interest and dividends receivable 4,021,121 1,553,568 19,241 - ------------ ------------ ------------ ------------ 20,046,755 1,553,568 19,241 - Cash and cash equivalents (Note 2) 54,336,750 (2,400,607) 7,470,062 - ------------ ------------ ------------ ------------ Assets available for plan benefits $617,285,611 $140,069,290 $ 7,489,303 $117,890,084 ============ ============ ============ ============ See accompanying notes.
4 8
EQUITY INDEX STABLE VALUE GROWTH LOAN FUND FUND FUND FUND TOTAL - - ------------ ------------ ------------ ------------ ------------ $ - $ - $ - $ - $ 242,775,850 - - - - 137,359,063 - - 70,263,135 - 407,363,361 64,244,345 - - - 125,679,452 - - - - 23,038,273 - - - 31,713,781 31,713,781 - 182,926,359 - - 182,926,359 - - ------------ ------------ ------------ ------------ ------------ 64,244,345 182,926,359 70,263,135 31,713,781 1,150,856,139 - - - - 16,025,634 2,660 8,105 - - 5,604,695 - - ------------ ------------ ------------ ------------ ------------ 2,660 8,105 - - 21,630,329 924,239 13,386 - - 60,343,830 - - ------------ ------------ ------------ ------------ ------------ $ 65,171,244 $182,947,850 $ 70,263,135 $ 31,713,781 $1,232,830,298 ============ ============ ============ ============ =============
5 9 Harris Corporation Retirement Plan Master Trust Statements of Changes in Assets Available for Plan Benefits June 30, 1994
BALANCED SHORT-TERM MONEY MARKET EQUITY INCOME FUND BOND FUND FUND FUND ------------ ------------ ------------ ------------ Increases: Investment income $ 23,873,300 $ 7,358,542 $ 297,280 $ 4,528,658 Cash contributions from Harris Corporation under profit-sharing program 20,618,310 - - - Cash contributions from Harris Corporation and participants under deferred income program 26,534,131 12,413,194 1,058,110 13,671,898 ------------ ------------ ------------ ------------ 71,025,741 19,771,736 1,355,390 18,200,556 Net participants' transfers between funds (1,609,830) (20,832,105) 3,239,086 15,417,076 Decreases: Benefits paid directly to participants 24,610,515 8,247,658 915,342 5,858,835 Administrative expenses 2,336,306 401,424 9,295 41,873 ------------ ------------ ------------ ------------ 26,946,821 8,649,082 924,637 5,900,708 Net (depreciation) appreciation in fair value of investments (10,790,866) (5,669,782) - 2,115,772 (Note 3) ------------ ------------ ------------ ------------ Net increase (decrease) in assets available for Plan benefits 31,678,224 (15,379,233) 3,669,839 29,832,696 Assets available for Plan benefits at beginning of year 617,285,611 140,069,290 7,489,303 117,890,084 ------------ ------------ ------------ ------------ Assets available for Plan benefits at end of year $648,963,835 $124,690,057 $ 11,159,142 $147,722,780 ============ ============ ============ ============ See accompanying notes.
6 10
HARRIS EQUITY INDEX STABLE VALUE GROWTH CORPORATION STOCK LOAN FUND FUND FUND FUND FUND TOTAL - - -------------- -------------- -------------- -------------- -------------- -------------- $ 2,002,631 $ 12,531,062 $ 70,277 $ 20,224 $ 2,352,520 $ 53,034,494 - - - - - 20,618,310 8,354,985 13,382,878 10,082,250 2,117,144 - 87,614,590 - - -------------- -------------- -------------- -------------- -------------- -------------- 10,357,616 25,913,940 10,152,527 2,137,368 2,352,520 161,267,394 (82,615) (48,414) (3,945,864) - 7,862,666 - 2,823,397 12,239,383 2,664,342 10,910 1,523,013 58,893,395 75,194 254,795 30,245 1 - 3,149,133 - - -------------- -------------- -------------- -------------- -------------- -------------- 2,898,591 12,494,178 2,694,587 10,911 1,523,013 62,042,528 (1,215,549) - (2,537,938) (112,569) - (18,210,932) - - -------------- -------------- -------------- -------------- -------------- -------------- 6,160,861 13,371,348 974,138 2,013,888 8,692,173 81,013,934 65,171,244 182,947,850 70,263,135 - 31,713,781 1,232,830,298 - - -------------- -------------- -------------- -------------- -------------- -------------- $ 71,332,105 $ 196,319,198 $ 71,237,273 $ 2,013,888 $ 40,405,954 $1,313,844,232 ============== ============== ============== ============== ============== ============== 7
11 Harris Corporation Retirement Plan Master Trust Statements of Changes in Assets Available for Plan Benefits June 30, 1993
BALANCED SHORT-TERM MONEY MARKET EQUITY INCOME FUND BOND FUND FUND FUND ------------ ------------ ------------ ------------ Increases: Investment income $ 25,617,981 $ 8,511,921 $ 255,942 $ 3,744,137 Cash contributions from Harris Corporation under profit-sharing program 16,025,634 - - - Cash contributions from Harris Corporation and participants under deferred income program 27,342,896 13,071,468 1,231,214 11,867,942 ------------ ------------ ------------ ------------ 68,986,511 21,583,389 1,487,156 15,612,079 Net participants' transfers between funds (19,500,143) (14,834,433) (2,041,665) (6,074,836) Decreases: Benefits paid directly to participants 17,409,000 11,800,722 484,907 5,268,555 Administrative expenses 2,293,013 303,625 19,266 - ------------ ------------ ------------ ------------ 19,702,013 12,104,347 504, 173 5,268,555 Net appreciation in fair value of investments 44,054,798 2,287,847 - 10,577,348 ------------ ------------ ------------ ------------ Net increase (decrease) in assets available for Plan benefits 73,839,153 (3,067,544) (1,058,682) 14,846,036 Assets available for Plan benefits at beginning of year 543,446,458 143,136,834 8,547,985 103,044,048 Assets available for Plan benefits end of year $617,285,611 $140,069,290 $ 7,489,303 $117,890,084 ============ ============ ============ ============ 8 See accompanying notes.
12
EQUITY INDEX STABLE VALUE GROWTH LOAN FUND FUND FUND FUND TOTAL - - ------------ ------------ ------------ -------------- -------------- $ 1,624,938 $ 13,659,495 $ 123,549 $ 2,265,721 $ 55,803,684 - - - - 16,025,634 7,120,956 15,734,497 6,753,614 - 83,122,587 - - ------------ ------------ ------------ -------------- -------------- 8,745,894 29,393,992 6,877,163 2,265,721 154,951,905 7,961,071 (28,087,566) 61,432,387 1,145,185 - 1,709,976 11,343,007 846,247 1,279,909 50,142,323 28,896 190,680 - - 2,835,480 - - ------------ ------------ ------------ -------------- -------------- 1,738,872 11,533,687 846,247 1,279,909 52,977,803 5,368,370 - 2,799,832 - 65,088,195 - - ------------ ------------ ------------ -------------- -------------- 20,336,463 (10,227,261) 70,263,135 2,130,997 167,062,297 44,834,781 193,175,111 - 29,582,784 1,065,768,001 - - ------------ ------------ ------------ -------------- -------------- $ 65,171,244 $182,947,850 $ 70,263,135 $ 31,713,781 $1,232,830,298 ============ ============ ============ ============== ============== 9
13 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements June 30, 1994 1. DESCRIPTION OF THE PLAN AND SIGNIFICANT ACCOUNTING POLICIES The Harris Corporation (the "Corporation") Retirement Plan Master Trust (the "Master Trust") includes the Harris Corporation Retirement Plan and the Harris Corporation Union Plan (the "Plans"). The Harris Corporation Union Plan includes all domestic employees covered by a collective bargaining agreement who have completed one year of credited service. The Harris Corporation Retirement Plan includes substantially all other domestic employees who have completed one year of credited service and who are not covered by a defined benefit plan. At June 30, 1993 the Master Trust included the Revised Harris Corporation Retirement Plan, the Harris Corporation Union Plan, the Harris Savings Plan and the Harris Tax Deferred Savings Plan. During 1994, the Revised Harris Corporation Retirement Plan, the Harris Savings Plan and the Harris Tax Deferred Savings Plan were merged into one plan, the Harris Corporation Retirement Plan. The Harris Savings Plan included all domestic employees of Allied Broadcast Equipment Corporation who attained age twenty-one and completed one year of credited service. The Harris Tax Deferred Savings Plan included all domestic employees of Harris Technical Services Corporation who attained age twenty-one and who completed one year of credited service. The Harris Corporation Retirement Plan and the Harris Corporation Union Plan share a common Profit-Sharing Program and Deferred Income Savings Program. The Corporation's annual contribution to the Balanced Fund under the Profit-Sharing Program is equal to 11.5% of the Corporation's adjusted consolidated net income as defined under the plan documents, plus any discretionary amount determined by the Board of Directors of the Corporation. The Profit-Sharing contribution is allocated, in the subsequent Plan year, among participating employees' individual account balances based on eligible compensation. The Deferred Income Savings Program was designed to take advantage of Internal Revenue Code Section 401(k). Under the Deferred Income Savings Program, participants may contribute up to 12% of their regular eligible compensation to the plan in 1% increments. The contributions can be in pre-tax or after-tax dollars at the participant's election. The employer contributes a matching amount equal to 100% of the participant's contributions, to a maximum of 6% of eligible compensation. Distributions from the Plans can be made in the event of death, disability, termination of employment or financial hardship. The loan program permits employees to borrow against their 401(k) plan contributions. Employees may borrow in increments of $100 from a minimum of $500 to a maximum of $50,000, within certain limitations established by the Plans. Payback periods range from one to 4-1/2 years at the option of the participant. Interest rates are established by the Corporation based on market rates. The outstanding loans have been established as a separate fund. Principal and interest paid on the loans are allocated to the funds consistent with the allocation of their 401 (k) plan contributions. 10 14 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements (continued) 1. DESCRIPTION OF THE PLAN AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) A participant's right to profit-sharing funds and employer matched deferred income contributions becomes vested using a formula based upon service, with 30% vesting after three years of credited service, an additional 10% vesting for the fourth year, and an additional 20% vesting for each of the three following years of credited service. At the time of retirement, death, or termination of employment, a participant's vested share of the Plans assets, net of any participant loans outstanding, becomes distributable in a lump-sum payment or through installments over a period of time as requested by the participant and approved by the Corporate Administrative Committee. A participant who terminates employment for reasons other than retirement or other specified circumstances and is not 100% vested, will forfeit the non-vested portion of the Corporation's contributions unless the participant returns to employment within one year. The forfeited contributions reduce the cash contributions from the Corporation. In the event of termination, the net assets of the Plans are to be converted into cash and distributed in a lump sum to each participant or beneficiary of a deceased participant based upon their beneficial interest in the Plans, net of any participant loans outstanding. Upon enrollment into the Plans, a participant may direct employer and employee contributions in any of eight investment options (seven in 1993). The investment options are fully described in the "Employer Summary Plan Description". Elections to change funds can be made once every month; however, amounts in the Stable Value Fund, which is comprised of unallocated insurance contracts, cannot be transferred directly to the Short-Term Bond Fund or the Money Market Fund. The accounting records of the Plans are maintained on the accrual basis. Investments in securities are stated at fair values as determined by quoted market prices, when available. Investments for which a quoted market value is not available are stated at fair values reported by the trustee or investee company. Investments in unallocated insurance contracts are stated at contract value. Participant loans are stated at cost. The net appreciation (depreciation) in fair value of investments reflected in the statements of changes in assets available for plan benefits represents the sum of the unrealized appreciation or depreciation in aggregate fair value of investments and the realized gain or loss on sale of investments. Unless otherwise elected by Harris Corporation, all ordinary and extraordinary charges and expenses incurred by the Trustee in connection with the administration of the Plans are paid by the Trustee from the assets of the Trust fund. In both fiscal 1994 and 1993, Harris Corporation elected to pay administrative expenses such as legal fees, tax counsel and accounting fees. Trustee investment manager fees and certain administrative expenses were paid by the Plans. 11 15 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements (continued) 2. TRANSACTIONS WITH PARTIES-IN-INTEREST Under Department of Labor regulations for reporting and disclosure, an employee benefit plan such as the Harris Corporation Retirement Plan and the Harris Corporation Union Plan is required to report investment transactions and compensation paid to a "party-in-interest". The term "party-in-interest" is broadly defined but would include Harris Corporation as the Plans' sponsor; Mellon Trust, Boston, Massachusetts as Trustee (formerly Boston Safe Deposit and Trust Company); and any person or corporation that renders services to the Plans. Included in cash and cash equivalents at June 30, 1994 and 1993 are 21,330,292 and 23,775,731 shares, respectively, of The Boston Company Pooled Employee Daily Liquidity Fund with a fair value of $21,330,292 and $23,775,731, respectively. During the year ended June 30, 1994 and 1993, the Plan earned $965,564 and $954,708, respectively, in interest from this fund. During the year the Plans added a new investment option, the Harris Corporation Stock Fund, which invests in Harris Corporation common stock. Included in corporate preferred and common stock at June 30, 1994 is 45,354 shares of the Harris Corporation. 3. INVESTMENTS The Plans' investments are held by a bank-administered trust fund.
Net Appreciation (Depreciation) in Fair Value During 1994 -------------------------------------------------------------------------------------------- Equity Equity Harris Balanced Short-Term Income Index Growth Corporation Fund Bond Fund Fund Fund Fund Stock Fund -------------------------------------------------------------------------------------------- Fair value as determined by quoted market price: U.S. Government securities $ (9,175,076) $(4,035,750) Corporate debt securities (4,044,624) (1,504,712) Corporate preferred and common stocks 4,549,926 $2,115,772 $(2,537,938) $(112,569) Wells Fargo Bank Index Fund (1,186,816) $(1,215,549) Other investments (914,321) (129,320) -------------------------------------------------------------------------------------------- (10,770,911) (5,669,782) 2,115,772 (1,21 5,549) (2,537,938) (112,569) Fair value as determined by investee company: J.P. Morgan real estate fund (19,955) - - - - - -------------------------------------------------------------------------------------------- $(10,790,866) $(5,669,782) $2,115,772 $(1,215,549) $(2,537,938) $(112,569) ============================================================================================
12 16 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements (continued) 3. INVESTMENTS (CONTINUED)
NET APPRECIATION (DEPRECIATION) IN FAIR VALUE DURING 1993 ---------------------------------------------------------------------------------------- EQUITY INDEX BALANCED SHORT-TERM FUND INCOME EQUITY GROWTH FUND BOND FUND FUND FUND FUND ---------------------------------------------------------------------------------------- Fair value as determined by quoted market price: U.S. Government securities $ 5,677,576 $1,911,872 $ $ $ Corporate debt securities 3,112,190 375,975 - - - Corporate preferred and common stocks 30,611,769 - 10,577,348 - 2,799,832 Wells Fargo Bank Index Fund 5,703,837 - - 5,368,370 - ---------------------------------------------------------------------------------------- Fair value as determined by investee company: 45,105,372 2,287,847 10,577,348 5,368,370 2,799,832 J.P. Morgan real estate fund (1,050,574) - - - - ---------------------------------------------------------------------------------------- $44,054,798 $2,287,847 $10,577,348 $5,368,370 $2,799,832 ========================================================================================
The fair value of individual investments that represent 5% or more of the Plan's assets are as follows:
1994 1993 ------------------- ------------------ Provident Investment Counsel Invt Tr Endeavor Growth Fund (6,778,045 and 6,458,009 shares) $ 71,237,273 $ 70,263,135 T Rowe Price Equity Income Fund (9,181,030 and 7,175,219 shares) 147,722,780 117,890,084 Wells Fargo Bank Equity Index Fund (1,413,164 and 1,281,249 shares) 140,588,547 125,679,452
13 17 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements (continued) 3. INVESTMENTS (CONTINUED) At June 30, 1994, before consideration of the contribution receivable under the profit-sharing program from Harris Corporation, approximately 98% and 2% of the Master Trust's assets available for plan benefits are owned by the Harris Corporation Retirement Plan and the Harris Corporation Union Plan, respectively. In 1993 the Plan determined net asset values per unit on a monthly basis. The following table presents the high and low values during the year and the ending value on June 30, 1993:
BALANCED SHORT-TERM MONEY MARKET EQUITY INCOME EQUITY INDEX STABLE VALUE GROWTH FUND BOND FUND FUND FUND FUND FUND FUND ----------- ----------- ----------- ------------ ----------- ------------ ------------ June 30, 1993 $883.66 $457.86 $121.80 $143.72 $157.29 $142.26 $110.89 High 883.66 458.52 125.50 145.77 158.74 142.26 112.52 Low 804.34 428.59 121.80 127.86 140.50 129.44 100.00
By definition, the value of units in the Loan Fund remains at $1 per unit. The following table presents the number of units in each fund by Plan, before consideration of the contribution receivable under the profit- sharing program from Harris Corporation on June 30, 1993:
REVISED HARRIS HARRIS HARRIS TAX CORPORATION CORPORATION DEFERRED SAVINGS HARRIS SAVINGS RETIREMENT PLAN UNION PLAN PLAN PLAN TOTAL --------------- -------------- ---------------- -------------- -------------- Balanced Fund 660,576.35 8,402.57 1,091.33 585.64 670,655.89 Short-Term Bond Fund 288,878.02 16,750.04 241.46 54.66 305,924.18 Money Market Fund 60,757.32 153.41 282.52 296.51 61,489.76 Equity Income Fund 810,219.64 8,293.15 1,070.03 667.54 820,250.36 Equity Index Fund 410,231.82 3,516.55 413.31 180.93 414,342.61 Stable Value Fund 1,266,885.93 16,386.40 244.93 2,496.23 1,286,013.49 Growth Fund 624,290.11 5,856.83 1,394.50 2,098.99 633,640.43
14 18 Harris Corporation Retirement Plan Master Trust Notes to Financial Statements (continued) 4. INCOME TAX STATUS The Internal Revenue Service has ruled that the Plans qualify under Section 401(a) of the Internal Revenue Code (IRC) and are, therefore, not subject to tax under present income tax law. The Plans are required to operate in conformity with the IRC to maintain their qualification. The plan administrator is not aware of any course of action or series of events that have occurred that might adversely affect the Plans' qualified status. 5. REPORTABLE TRANSACTIONS No transactions with parties-in-interest other than described in Note 2, loans or fixed income obligations in default or uncollectible, or leases in default or uncollectible are presented due to the absence of these items as of June 30, 1994 and for the year then ended. 6. AMENDMENTS The following amendments were made to the Harris Corporation Retirement Plan and the Harris Corporation Union Plan during 1994. o Profit-sharing program provisions were clarified to indicate that the contribution to the Plans is 11-1/2%, less portion allocable to compensation over $150,000 limit. o Direct rollover provisions, withholding provisions, and new compensation limits were added. o A six-month suspension from making after-tax contributions is required following a voluntary in-service withdrawal of after-tax amounts. In-service withdrawals may be made once every three months. o Loans are available from rollover accounts. o Loans must be repaid within 90 days of voluntary termination of employment, effective July 11, 1994. 7. SUBSEQUENT EVENTS Effective August 1, 1994, the Plans terminated the Trustee agreement with Mellon Trust and appointed Bankers Trust Company as new Trustee of the Plans. 15 19 Supplemental Schedules 20 Harris Corporation Retirement Plan Master Trust Assets Held for Investment June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES FHLMC Multiclass Mtg P/C 1,601,613.78 principal 7.5% 1070E interest, due 4/15/96 $ 1,636,043 $ 1,619,664 FHLMC Multiclass Mtg. P/C 1,780,000.00 principal, 6.5% 1225D interest, due 3/15/97 1,746,625 1,771,671 FHLMC Multiclass Mtg P/C 662,294.19 principal, variable 1270F rate interest, due 5/15/97 662,294 658,155 FHLMC Group #C0-0330 2,520,184.86 principal, 7.5% interest, due 4/1/2024 2,452,456 2,420,940 FHLMC Group #C8-0158 2,128,596.30 princpal, 7.5% interest, due 5/1/2024 1,972,547 1,939,104 Federal Home Ln Bk Disc Nts 3,000,000.00 principal, Mat, due 7/21/94 2,985,752 2,985,752 Federal Home Ln Mtg Corp Deb 3,400,000.00 principal, 6.54% interest, due 3/21/2001 3,251,781 3,275,696 Federal Home Ln Mtg Corp Deb 6,650,000.00 principal, Fltg Rt, due 6/30/98 6,600,125 6,622,070 Federal Home Ln Mtg Corp Deb 5,230,000.00 principal, 3.97% interest, due 8/5/96 5,062,671 5,066,563 FHLMC Group #20-0001 111,059.13 principal, 11.5% interest, due 7/1/99 156,641 117,445 FHLMC Group #20-0007 28,607.53 principal, 11.5% interest, due 2/1/2000 42,102 30,252 FHLMC Group #20-0013 44,333.98 principal, 10.5% interest, due 6/1/2000 53,865 46,717 FHLMC Group #20-0028 1,302,886.68 principal, 5.375% interest, due 1/1/2017 1,298,176 1,321,205 FHLMC Group #35-0039 1,295,830.94 principal, 5.125% interest, due 3/1/2017 1,296,777 1,296,038 FHLMC Group #35-0052 256,813.00 principal, 6.125% interest, due 5/1/2017 247,964 257,776 FHLMC Group #60-5068 1,132,403.50 principal, 6.246% interest, due 3/1/2019 1,136,947 1,135,948
16 21 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S.GOVERNMENT-SECURITIES (CONTINUED) FHLMC Group #53-3105 51,143.09 principal, 11.5% interest due 4/1/2019 $ 56,932 $ 56,353 FHLMC Group #53-3914 171,051.85 principal, 11.5% interest, due 3/1/2018 174,855 188,477 FNMA Gtd Remic P/T Ctf G92- 263,650.65 principal, 7.0% interest, due 9/25/2016 265,546 264,500 FNMA Gtd Remic P/T Ctf 92- 317,952.98 principal, 4.25% 155A interest, due 10/25/97 317,357 316,649 Federal Natl Mtg Assn Disc Nts 7,100,000.00 principal, Mat, due 8/1/94 7,073,466 7,073,466 Federal Natl Mtg Assn disc 500,000.00 principal, Mat, due 9/9/94 494,888 494,888 FNMA Gtd Remic P/T Ctf 93- 652,592.62 principal, Zero Cpn 124K interest, due 10/25/2022 620,779 612,380 FNMA Gtd Remic P/T Ctf 93- 5,800,000.00 principal, Prin 128B only, due 7/25/2023 4,888,313 4,686,342 Fed Natl Mtg Assn Deb 2,000,000.00 prinicpal, 4.95% interest, due 9/30/98 2,000,000 1,843,000 Federal Natl Mtg Assn Deb 5,000,000 principal, 5.3% interest, due 12/10/98 4,995,313 4,663,500 FNMA Gtd Remic P/T Ctf 93- 4,585,000.00 principal, Zero Cpn, 146B due 5/25/2023 3,839,938 3,794,042 FNMA Pool #0001405 1,476,871.57 principal, 6.25% interest, due 4/1/2004 1,490,948 1,433,200 Federal Natl Mtg Assn Mtn 0573 700,000.00 principal, 4.8% interest, due 7/7/98 700,000 648,186 FNMA Pool #0122333 10,474.38 principal, 8.5% interest, due 6/1/98 10,495 10,717 FNMA Pool #0132862 89,894.66 principal, 8.5% interest, due 10/1/98 93,098 91,973 FNMA Pool #0135499 79,932.45 principal, 8.5% interest, due 11/1/98 82,895 81,780
17 22 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES (CONTINUED) FNMA Pool #0135507 64,830.03 principal, 8.5% interest, due 11/1/98 $ 67,146 $ 66,329 FNMA Pool #0136415 37,887.86 principal, 8.5% interest, due 10/1/98 39,177 38,870 FNMA Pool #0136801 142,132.56 principal, 8.5% interest, due 10/1/98 146,860 145,419 FNMA Pool #0137547 55,618.02 principal, 8.5% interest, due 10/1/98 57,467 56,904 FNMA Pool #0137739 88,043.17 principal, 8.5% interest, due 11/1/98 90,796 90,079 FNMA Pool #0246701 515,638.21 principal, 6.0% interest, due 11/1/2000 523,051 487,438 FNMA Pool #0247266 1,482,309.63 principal, 6.0% interest, due 11/1/2000 1,503,618 1,401,242 GNMA Pool #0345974 225,903.89 principal, 7.0% interest, due 11/15/2008 233,811 218,207 GNMA Pool #0352033 398,720.44 principal, 7.0% interest, due 9/15/2008 412,676 385,136 GNMA Pool #0352092 348,811.29 principal, 7.0% interest, due 7/15/2008 361,020 336,927 GNMA Pool #0352524 45,982.02 principal, 7.0% interest, due 11/15/2008 47,591 44,415 GNMA Pool #0353927 104,193.53 principal, 7.0% interest, due 8/15/2008 107,840 100,644 GNMA Pool #0355344 228,057.11 principal, 8.0% interest, due 7/15/2023 236,039 220,287 GNMA Pool #0360274 499,362.71 principal, 7.0% interest, due 10/15/2008 516,840 482,349 GNMA Pool #0368435 2,005,497.49 principal, 8.0% interest, due 2/15/2024 2,120,814 1,972,266 GNMA Pool #0376294 477,773.26 principal, 7.0% interest, due 11/15/2008 494,495 461,496 GNMA Pool #0376424 488,689.41 principal, 8.0% interest, due 2/15/2024 516,789 480,592
18 23 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES (CONTINUED) GNMA Pool #0034036 6,177.98 principal, 10.0% interest, due 11/15/2009 $ 6,707 $ 6,616 GNMA Pool #0132768 162,972.20 principal, 10.0% interest, due 3/15/2016 176,927 174,988 GNMA Pool #0144664 24,310.29 principal, 10.5% interest, due 11/15/2000 33,624 26,179 GNMA Pool #0146599 110,740.09 principal, 10.5% interest due 12/15/2000 128,413 119,253 GNMA Pool #0146848 4,876.75 principal, 10.0% interest, due 2/15/2016 5,294 5,236 GNMA Pool #0154527 5,350.49 principal, 10.0% interest, due 4/15/2016 5,808 5,745 GNMA Pool #0159499 8,598.20 principal, 10/0% interest, due 6/15/2016 9,334 9,232 GNMA Pool #0161361 67,939.89 principal, 9.5% interest due 5/15/2016 72,887 71,677 GNMA Pool #0166776 220,445.74 principal, 10.0% interest, due 8/15/2016 239,321 236,699 GNMA Pool #0167101 2,622.45 principal, 10.0% interest, due 7/15/2016 2,847 2,815 GNMA Pool #0167386 568,370.36 principal, 10.0% interest, due 8/15/2016 617,037 610,038 GNMA Pool #0174648 266,640.24 principal, 9.5% interest, due 10/15/2018 286,055 280,977 GNMA Pool #0178624 133,545.93 principal, 9.5% interest, due 10/15/2016 143,270 140,891 GNMA Pool #0189572 5,439.81 principal, 10.0% interest, due 2/15/2017 5,906 5,835 GNMA Pool #0227194 147,680.78 principal, 9.5% interest, due 7/15/2017 158,434 155,849 GNMA Pool #0231515 174,927.79 principal, 9.5% interest, due 10/15/2017 187,665 184,334 GNMA Pool #0245521 210,003.59 principal, 9.5% interest, due 3/15/2018 210,574 221,295
19 24 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES (CONTINUED) GNMA Pool #0247501 218,922.08 principal, 9.5% interest, due 12/15/2019 $ 234,862 $ 230,648 GNMA Pool #0254830 61,469.64 principal, 9.5% interest, due 9/15/2018 65,945 64,775 GNMA Pool #0263862 9,389.36 principal, 9.5% interest, due 1/15/2019 9,411 9,894 GNMA Pool #0279190 163,976.18 principal, 9.5% interest, due 9/15/2019 175,916 172,759 GNMA Pool #0283629 141,950.49 principal, 9.5% interest, due 12/15/2019 152,286 149,553 GNMA Pool #0301179 284,227.05 principal, 9.5% interest, due 6/15/2021 304,922 299,413 GNMA Pool #0335142 420,415.75 principal, 7.0% interest, due 9/15/2008 435,130 389,280 Student Ln Marketing Assn 4,500,000.00 principal, 5.315% interest, due 6/30/95 4,500,000 4,481,730 Student Loan Marketing Disc 500,000.00 principal, Mat, due 9/9/94 495,559 495,559 U.S. Treasury Bonds 5,750,000.00 principal, 7.250% interest, due 5/15/2016 6,212,094 5,445,423 U.S. Treasury Bonds 6,750,000.00 principal, 7.5% interest, due 11/15/2016 6,609,609 6,562,283 U.S. Treasury Notes 6,455,000.00 principal, 7.25% interest, due 8/31/96 6,982,495 6,582,099 U.S. Treasury Notes 4,500,000.00 principal, 6.875% interest, due 10/31/96 4,569,453 4,551,345 U.S. Treasury Notes 4,030,000.00 principal, 7.5% interest, due 11/15/2001 4,034,450 4,090,450 U.S. Treasury Notes 10,715,000.00 principal, 6.25% interest, due 1/31/97 11,194,887 10,684,891 U.S. Treasury Notes 100,000.00 principal, 6.75% interest, due 2/28/97 99,609 100,766 U.S. Treasury Notes 3,500,000.00 principal, 6,875% interest, due 4/30/97 3,520,781 3,534,440
20 25 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES (CONTINUED) U.S. Treasury Notes 2,000,000.00 principal, 5.875% interest, due 5/15/95 $ 2,021,875 $ 2,006,240 U.S. Treasury Notes 1,035,000.00 principal, 6.375% interest, due 6/30/97 1,078,988 1,032,733 U.S. Treasury Notes 2,000,000.00 principal, 4.625% interest, due 8/15/95 2,008,924 1,978,120 U.S. Treasury Notes 8,000,000.00 principal, 5.750% interest, due 10/31/97 7,943,750 7,787,520 U.S. Treasury Notes 390,000.00 principal, 5.125% interest, due 11/15/95 394,083 386,650 U.S. Treasury Notes 8,290,000.00 principal, 6.0% interest, due 11/30/97 8,616,903 8,121,630 U.S. Treasury Notes 5,550,000.00 principal, 5.625% interest, due 1/31/98 5,684,387 5,364,408 U.S. Treasury Notes 4,895,000.00 principal, 4.625% interest, due 2/15/96 4,937,539 4,792,499 U.S. Treasury Notes 2,385,000.00 principal, 6.25% interest, due 2/15/2003 2,507,231 2,223,273 U.S. Treasury Notes 5,625,000.00 principal, 5.125% interest, due 3/31/98 5,620,098 5,327,044 U.S. Treasury Notes 3,900,000.00 principal, 5.50% interest, due 4/15/2000 3,737,281 3,625,791 U.S. Treasury Notes 12,310,000.00 principal, 4.75% interest, due 9/30/98 12,323,444 11,384,780 U.S. Treasury Notes 910,000.00 principal, 4.75% interest, due 10/31/98 898,056 839,329 U.S. Treasury Notes 4,000,000.00 principal, 4.375% interest, due 11/15/96 3,996,080 3,831,240 U.S. Treasury Notes 4,100,000.00 principal, 5.875% interest, due 2/15/2004 3,742,635 3,685,531 U.S. Treasury Notes 16,200 000.00 principal, 5.5% interest, due 2/28/99 15,582,195 15,314,022 U.S. Treasury Notes 7,900,000.00 principal, 7.375% interest, due 5/15/96 8,250,682 8,074,037
21 26 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES (CONTINUED) U.S. Treasury Notes 5,075,000.00 principal, 7.25% interest, due 11/15/96 $ 4,730,852 $ 5,174,927 U.S. Treasury Notes 2,400,000.00 principal, 8.875% interest, due 2/15/99 2,511,000 2,584,128 U.S. Treasury Notes 3,100,000.00 principal, 7.875% interest, due 11/15/99 2,958,436 3,221,582 U.S. Treasury Notes 1,060,000.00 principal, 8.750% interest, due 8/15/2000 1,064,448 1,146,952 U.S. Treasury Notes 3,875,000.00 principal, 7.875% interest, due 1/15/98 3,851,043 4,017,872 U.S. Treasury Notes 3,500,000.00 principal, 7.5% interest, due 2/29/96 3,533,906 3,582,565 ----------------------------------- Total U.S. Government Securities 225,064,967 219,418,889 ----------------------------------- CORPORATE DEBT SECURITIES AT&T Corp Mtn Tr #00113 4,000,000.00 principal, 7.07% interest, due 11/18/96 4,000,000 4,032,600 Amern Gen Fin Disc 500,000.00 principal, due 7/22/94 498,208 498,208 Amern Gen Fin Disc 1,500,000.00 principal, due 1,498,775 1,498,775 7/6/94 American Tel & Teleg co Mtn 600,000.00 principal amount, 6.4% interest, due 6/2/99 600,000 596,250 Amoco Cda Pete co Deb 2,400,000.00 principal, 7.25% interest, due 12/1/2002 2,403,000 2,342,424 Associates Corp North Amer Nt 4,000,000.00 principal, 6.25% interest, due 3/15/99 3,824,400 3,813,720 Bhp Fin USA Ltd Nt 1,700,000.00 principal amount, 5.625% interest, due 11/1/2000 1,638,018 1,516,995 Beneficial Corp Disc 500,000.00 principal, due 7/7/94 497,580 497,580 Case Equip Ln Tr Abs 92-A A-2 2,090,494.33 principal, 5.4% interest, due 6/15/98 2,088,861 2,090,494 Case Equip Ln Tr 94-A Cl A-2 6,455,000.00 principal, 4.650% interest, due 8/15/99 6,447,940 6,362,048 Caterpillar Finl asset 94-A A-2 4,000,000.00 principal, 6.100% interest, due 6/25/2000 3,993,750 3,993,760
22 27 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- CORPORATE DEBT SECURITIES (CONTINUED) Chase Manhattan Grantor Tr 91A 504,621.91 principal, 6.9% interest, due 9/15/97 $ 503,530 $ 504,935 Chemical Bkg Corp Med Term Nts 1,200,000.00 principal, Fltg/rt, due 7/15/96 1,199,604 1,207,248 Chevron Oil Fin Disc 500,000.00 principal, due 7/5/94 499,119 499,119 Cigna Corp Disc 500,000.00 principal, due 7/14/94 499,104 499,104 Columbia Gas Sys Inc Deb 575,000.00 principal, 9.0% interest, due 8/1/93 524,052 678,500 Consolidated Edison Co NY Inc 1,500,000.00 principal, 5.30% interest, due 8/1/97 1,498,710 1,432,965 Corestates Cap Corp Mtn 4,600,000.00 principal, Var Rt, due 5/15/96 4,600,000 4,613,892 Daimler-Benz Auto Tr ABC 93-A 5,131,980.67 principal, 3.90% interest, due 10/15/98 5,127,811 5,021,284 Exxon Cr Corp Disc 500,000.00 principal, due 7/22/94 497,939 497,939 First Chicago Corp Sub Nt 4,000,000.00 principal, 9.25% interest, due 11/15/2001 4,485,760 4,276,720 Fleet Mtg Group Inc Mtn 3,900,000.00 principal, Var Rt, due 6/17/96 3,900,000 3,919,422 Ford Cr 91-A Grantor Ctf Cl A 242,890.07 principal, 7.80% interest, due 2/15/96 242,890 243,344 Ford Cr 91-B Grantor Tr A/B-A 2,480,175.77 principal, 6.5% interest, due 11/15/96 2,526,222 2,481,317 Ford Cr Auto Ln Master Tr 92-1 4,000,000.00 principal, 6.875% interest, due 1/15/99 3,971,250 4,008,800 Ford Mtr Cr Co Disc 500,000.00 principal, due 7/20/94 497,100 497,100 Ford Mtr Cr co Nts 4,000,000.00 principal, 5.625% interest, due 3/3/97 3,958,200 3,874,360 Ford Mtr Cr Co Ib Nt 1,625,000.00 principal, 4.250% interest, due 7/8/94 1,625,000 1,625,000 GMAC 92-D Grantor Tr Ab Cl A 1,165,731.82 principal, 5.550% interest, due 5/15/97 1,180,668 1,164,275 GMAC 1993-B Grantor Tr Asset 2,897,052.83 principal, 4.0% interest, due 9/15/98 2,892,707 2,833,665
23 28 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- CORPORATE DEBT SECURITIES (CONTINUED) General Elec Cap Disc 500,000.00 principal, due $ 497,890 $ 497,890 7/15/94 General Glec Cap Ib Nt 1,625,000.00 principal, due 4.180% interest, due 7/6/94 1,625,000 1,625,000 General Elec Cap Corp Mtn #359 4,000,000.00 principal, 8.090% interest, due 2/27/96 4,000,000 4,110,720 Hanson Overseas B V 2,000,000.00 principal, 5.500% interest, due 1/15/96 1,977,240 1,971,380 Hewlitt Packard Disc 500,000.00 principal, due 7/15/94 498,524 498,524 Hilton Hotels Crp Disc 500,000.00 principal, due 7/7/94 499,104 499,104 Home Depot Inc Sub Nt Conv 354,000.00 principal, 4.5% interest, due 2/15/97 410,861 414,180 Household affinity Cr I 94-1 A 4,750,000.00 principal, Fltg Rt, due 5/15/2001 4,747,773 4,717,320 International Lease Fin Corp 5,000,000.00 principal, 6.375% interest, due 11/1/96 5,167,100 4,943,550 Korea Dev Bk Bd 2,500,000.00 principal, 7.9% interest, due 2/1/2002 2,465,125 2,445,775 Lieberft Corp Sub Deb Conv 144,000.00 principal, 8.0% interest, due 11/15/2010 322,505 307,047 Merrill Lynch & Co Inc Nt 4,000,000.00 principal, 7.750% interest, due 3/1/99 4,140,560 4,028,080 Merrill Lynch & Co Mtn 4,000,000.00 principal, Var Rt, due 7/7/94 4,000,000 4,000,040 Morgan Stanley Group Mtn Tr #56 5,000,000.00 principal, 7.980% interest, due 11/4/96 5,000,000 5,125,750 Nabisco Inc Deb 479,000.00 principal amount, 7.75% interest, due 11/1/2003 475,408 450,260 NationsBank Corp Mtn #SR00021 2,500,000.00 principal, Var Rt, due 9/20/95 2,500,000 2,506,075 Nissan Auto Rcvb 91-B Cl A 531,883.78 principal, 6.050% interest, due 12/15/96 537,578 534,065 Norwest Finl Inc Disc 500,000.00 principal, due 7/18/94 497,221 497,221 Premier Auto Tr 94-1 Cl A-1 254,770.26 principal, 3.280% interest, due 2/2/95 254,770 253,868
24 29 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (CONTINUED) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- CORPORATE DEBT SECURITIES (CONTINUED) Premier Auto Tr 94-2 Cl A- 3 3,100,000.00 principal, 6.350% interest, due 5/2/2000 $3,097,988 $3,058,460 Preimier Auto Tr 94-3 Cl A-2 2,000,000.00 principal, Fltg Rt, due 9/2/96 2,000,000 1,997,280 Prudential Fdg Cp Disc 500,000.00 principal, due 7/8/94 499,125 499,125 RJR Nabisco Inc 3,215,000.00 principal, 8.625% interest, due 12/1/2002 3,204,487 2,788,048 Republic N Y Corp Nt 1,000,000.00 principal, 8.375% interest, due 5/1/96 996,690 1,029,280 SPNB Home Equity Ln ABS 91-1-A 333,209.86 principal, 7.850% interest, due 5/15/98 331,499 338,688 SPNB Home Equity Ln Ctf 91-2-A 390,919.19 principal, 8.100% interest, due 6/15/2020 389,976 394,828 Salomon Inc Mtn 5,000,000.00 principal, Var Rt, due 9/29/95 5,009,400 5,008,900 Seagram Joseph E & Sons Inc. 2,350,000.00 principal, 7% interest, due 4/15/2008 2,298,781 2,086,894 Signet Master Tr Ser 1994-1CLA 1,000,000.00 principal, Fltg Rt, 9/15/99 1,000,000 1,000,000 Southern Bell Tel & Teleg Deb 2,500,000.00 principal, 8.5% interest, 8/1/2029 2,670,650 2,494,525 Southern Calif Gas Co 1st Mtg 4,500,000.00 principal, 7.5% interest, 6/15/2023 4,679,955 4,041,630 Transamerica Finl Corp Deb 116,000.00 principal, Zer Cpn, due 9/1/94 113,678 115,185 Travelers Inc Disc 500,000.00 principal, due 7/21/94 497,026 497,026 Wmc Fin USA Ltd Gtd Nt 3,000,000.00 principal, 6.5% interest, 11/15/2003 2,947,170 2,683,470 Wells Fargo & Co Ntn #TR00188 3,000,000.00 principal, Var Rt, due 11/17/95 3,000,000 3,006,090 World Omni 92-A Abs Cl A 1,240,286.86 principal, 4.750% interest, due 1/15/98 1,238,543 1,227,884 Royal Bank Canada Disc 4,000,000.00 principal, due 3,999,000 3,999,000 9/1/94 Cit Group Hldgs Disc 500,000.00 principal, due 7/19/94 497,160 497,160
25 30 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- CORPORATE DEBT SECURITIES (CONTINUED) Associates Cp Na Disc 500,000.00 principal, due 7/13/94 $ 498,061 $ 498,061 American Ex Cr Cp Disc 500,000.00 principal, due 7/11/94 498,940 498,940 Hoechst Corp Bds 1,700,000 principal 6.000% interest, due 3/8/2000 1,711,577 1,568,250 Canada (Govt of) Bds 5,000,000 principal, 6.500% interest, due 1/8/96 3,548,026 3,473,654 Denmark Kingdom Bd 2,000,000 principal, 7.750% interest, due 12/15/96 2,176,440 2,047,121 Spain Kindgom Med Term 4,000,000 principal, 8.250% interest, due 12/20/94 4,046,440 4,054,000 Walden Residential PPTYS Inc. 9,200 shares 177,100 207,000 ------------------------------- Total Corporate Debt Instruments 158,464,569 155,658,191 ------------------------------- COMMON STOCK AAPC Limited Ord A 139,256.00 shares 111,640 111,769 Exel Ltd Ord 13,930.00 shares 392,480 538,046 Astra Ab Ser "B" 13,900.00 shares 255,821 274,226 Aflac Inc Com 23,300.00 shares 643,358 786,375 AT&T Corp 45,000.00 shares 2,168,387 2,446,875 Abbott Labs 53,000.00 shares 1,536,274 1,537,000 Air Prods & Chems Inc 14,250.00 shares 503,598 603,844 Airtouch Communications 30,190.00 shares 547,823 713,289 Alleghany Corp Del 22,824.00 shares 1,050,177 3,389,364 Allegheny Pwr Sys Inc 26,410.00 shares 660,603 554,610 Allmerica Ppty & Cas Cos Inc 90,000.00 shares 776,250 1,507,500 Allstate Corp 22,520.00 shares 636,485 534,850 Alpha Beta Technology Inc 3,300,000.00 shares 84,724 35,475 American Greetings Corp Cl A 33,820.00 shares 729,196 1,014,600 American Intl Group Inc 40,300.00 shares 2,501,504 3,490,988 Ameritech Corp New 15,620.00 shares 519,989 595,513 AMP Inc 11,900.00 shares 731,551 821,100 Amoco Corp 8,470.00 shares 431,355 481,731 Analog Devices Inc 9,500.00 shares 278,040 273,125 Ann Taylor Stores Corp 18,200.00 shares 387,042 698,425 Applied Bioscience Intl Inc 29,600.00 shares 162,457 170,200
26 31 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Applied Matls Inc 8,700.00 shares $ 240,877 $ 371,925 Arrow Electrs Inc 35,000.00 shares 1,348,550 1,303,750 Automatic Data Processing Inc 7,010.00 shares 287,160 372,406 Autozone, Inc 28,700.00 shares 663,886 699,563 Avid Technology Inc. 3,200.00 shares 79,372 87,200 BWIP Inc 65,000.00 shares 1,038,750 1,137,500 Banc One Corp 24,057.00 shares 756,602 823,952 Bank of Boston Corp Com 80,000.00 shares 1,773,634 1,970,000 Bank New York Inc 45,000.00 shares 1,215,100 1,299,375 Barnett Bks Inc 13,800.00 shares 633,918 603,750 Belo A H Corp Ser A 30,000.00 shares 1,364,122 1,293,750 Biog en Inc 11,600.00 shares 388,823 332,050 Birmingham Stl Corp 10,330.00 shares 307,898 278,910 Boatmens Bancshares Inc 21,520.00 shares 519,024 677,880 Boeing Co 32,000.00 shares 1,1 14,872 1,480,000 Boston Scientific Corp 19,900.00 shares 294,844 251,238 Brinker Intl Inc 34,875.00 shares 812,573 732,375 Browning Ferris Inds Inc 11,600.00 shares 348,503 352,350 Buffets Inc 72,800.00 shares 1,236,214 1,337,700 CML Group Inc 80,000.00 shares 1,454,800 930,000 CSX Corp 7,410.00 shares 424,351 559,455 Cuc Intl Inc 3,000.00 shares 91,903 81,000 Cabletron Sys Inc 5,600.00 shares 592,603 541,100 Capital Cities ABC Inc 55,000.00 shares 2,203,455 3,911,875 Carnival Corp Cl A 5,500.00 shares 272,420 243,375 Carter Wallace Inc 30,000.00 shares 912,776 558,750 Cellpro Inc 2,800.00 shares 76,300 53,900 Centex Corp 18,170.00 shares 576,146 467,878 Chambers Dev Inc Cl A 23,930.00 shares 103,901 52,359 Cheesecake Factory (The) 3,750.00 shares 84,475 59,063 Chicago & North Western Transportation Co 50,000.00 shares 990,076 1,156,250 Chiron Corp 3,800.00 shares 209,625 208,050 Chrysler Corp 32,000.00 shares 1,694,912 1,520,000 Chubb Corp 37,690 shares 2,013,629 2,887,996
27 32 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Ciber Inc 150,000.00 shares 1,210,083 1,312,500 Cisco Sys Inc 5,200.00 shares 123,988 121,550 Citicorp 35,000.00 shares 1,334,585 1,395,625 Cleveland Cliffs Inc 35,000.00 shares 1,081,650 1,330,000 Coastal Corp 37,500.00 shares 724,075 1,012,500 Coca Cola Co 43,790.00 shares 1,791,648 1,778,969 Colgate Palmolive Co 15,000.00 shares 646,802 783,750 Columbia/HCA Healthcare Corp 4,500.00 shares 190,791 168,750 Comcast Corp Cl A Spl 100,500.00 shares 910,824 1,809,000 Comerica Inc 29,440.00 shares 855,490 831,680 Commerce Bancshares Inc 9,825.00 shares 223,428 307,031 Computer Sciences Corp 28,650.00 shares 874,397 1,192,556 Compuware Corp 5,400.00 shares 228,920 223,425 Countrywide Cr Inds Inc 100,000.00 shares 1,643,357 1,437,500 Crestar Finl Corp 17,400.00 shares 714,170 791,700 DPL Inc 6,710.00 shares 127,893 133,361 Dana Corp 21,380.00 shares 600,588 609,330 Danka Business Sys Plc Sponsor Adr 8,500.00 shares 321,968 338,938 Dean Witter Discover & Co 46,500.00 shares 1,653,289 1,743,750 Dilla rd Dept Stores Inc Cl A 19,450.00 shares 679,845 600,519 Disney Walt Co 14,200.00 shares 572,021 591,075 Donnelley R R & Sons Co 18,620.00 shares 546,819 516,705 Dow Chem Co 19,800.00 shares 1, 230,748 1,294,425 Dow Jones & Co Inc 40,000.00 shares 1,108,690 1,240 ,000 DuPont E I De Nemours & Co 11,020.00 shares 522,789 641,915 Emerson Elec Co 18,600.00 shares 939,626 1,057,875 Empresa Nacional De Electricidad S A Sponsored Adr 14,240.00 shares 370,667 639,020 Enron Corp 36,700.00 shares 1,112,819 1,201,925 Entergy Corp New 18,590.00 shares 611,459 460,103 Ericsson L M Tel Co Adr Cl B Sek 10 14,200.00 shares 672,561 703,795 Ethan Allen Interiors Inc 33,800.00 shares 789,353 692,900 FHP Intl Corp 63,000.00 shares 1,531,313 1,512,000
28 33 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Federal Home Ln Mtg Corp Common 46,500.00 shares $1,152,316 $2,813,250 Federal Natl Mtg Assn 72,180.00 shares 3,172,692 6,027,030 Federated Dept Stores Inc 41,000.00 shares 833,169 820,000 Fingerhut Cos Inc 80,000.00 shares 1,044,534 1,940,000 First Data Corp 17,800.00 shares 665,278 736,475 First Empire St Corp 4,500.00 shares 624,064 7 04,250 First Fid Bancorporation New 50,000.00 shares 1,272,870 2,318,750 First Finl Mgmt Corp 3,500.00 shares 198,835 194,250 First Un Corp 22,700.00 shares 951,306 1,047,038 First USA Inc 13,200.00 shares 372,085 506,550 Foundation Health Corp 50,000.00 shares 1,057 ,375 1,950,000 Franklin Res Inc 13,040.00 shares 462,413 484,110 Fruit of the Loom Inc Cl A 52,700.00 shares 1,710,201 1,376,788 Gc Cos Inc Com 3,500.00 shares 63,124 90,125 Gfc Finl Corp 10,400.00 shares 329,300 347,100 General Elec Co 44,500.00 shares 1,560,614 2,074,813 G eneral Mtrs Corp Cl E 45,670.00 shares 1,130,325 1,592,741 General Re Corp 22,000.00 shares 1,885,260 2,395,250 Giddings & Lewis Inc Wis 80,000.00 shares 1,516,740 1,240,000 Gillette Co 4,400.00 shares 252,871 286,550 Golden West Finl Corp Del 19,600.00 shares 808,719 75 7,050 Greate Lakes Chem Corp 9,880.00 shares 680,010 534,755 Greenfi eld Inds Inc Del 21,300.00 shares 347,645 415,350 HS Res Inc 12,200.00 shares 266,977 263,825 Haagen Alexander Pptys Inc Com 24,500.00 shares 421,315 437,938 Harcourt Gen Inc 42,000.00 shares 828,477 1,475,250 Harley Davidson Inc 7,000.00 shares 336,686 320,250 Harleysville Group Inc 52,000.00 shares 975,000 1,066,000 Harris Corp Del 45,353.92 shares 2,114,018 2,001,242 Hewlett Packard Co 20,000 00 shares 826,303 1,505,000 Home Depot Inc 158,260.00 shares 6,684,334 6,666,703 Honeywell Inc 61,080.00 shares 1,813,880 1,893,480 Hong Kong Telcomm Ltd Spon Adr 15,600.00 shares 228,381 292,500
29 34 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Horace Mann Educators Corp New 59,000.00 shares $ 1,146,395 $ 1,607,750 Hospitality Franchise Sys Inc 6,900.00 shares 175,360 169,050 Humana, Inc. 15,300.00 shares 314,158 246,713 Huntingdon Intl Hldgs Plc Adr 52,000.00 shares 627,993 299,000 Intel Corp 30,000.00 shares 1,751,838 1,755,000 International Cabletel Inc 65,000.00 shares 1,288,342 1,365,000 Intl Flavors & Fragrances Inc 26,200.00 shares 881,408 1,025,858 International Game Technology 11,400.00 shares 389,417 215,175 International Paper Co 12,360.00 shares 824,919 818,850 Interpublic Group Cos Inc 20,840.00 shares 651,653 646,040 Jdn Rlty Corp 8,700.00 shares 196,277 190,313 Johnson & Johnson 32,800.00 shares 1,561,946 1,406,300 Kellwood Co 63,750.00 shares 1,099,282 1,362,656 Kerr McGee Corp 30,000.00 shares 1,265,580 1,413,750 Kohls Corp 3,600.00 shares 145,003 169,200 LTV Corp New 83,000.00 shares 1,340,584 1,276,125 Limited Inc 30,000.00 shares 544,925 517,500 Loewen Group Inc 7,600.00 shares 184,063 187,150 Long Island Ltg Co 36,400.00 shares 756,392 646,100 Lowes Cos Inc 9,200.00 shares 312,929 315,100 Mbia Inc 17,000.00 shares 1,134,987 975,375 Mbna Corp 94,000.00 shares 1,819,101 2,115,000 MCI Communications Corp 75,500.00 shares 1,715,629 1,670,438 Mgic Invt Corp Wis 88,280.00 shares 2,634,468 2,328,385 Manpower Inc Wis 25,300.00 shares 406,706 531,300 Mapco Inc 21,500.00 shares 1,077,940 1,268,500 Masco Corp 20,000.00 shares 463,700 550,000 May Dept Stores Co 54,470.00 shares 1,561,880 2,137,948 McDonalds Corp 14,460.00 shares 258,705 417,533 Mead Corp 43,660.00 shares 1, 538,109 1,926,498 Medtronic Inc 16,130.00 shares 1,159,287 1,292,416 Merck & Co Inc 18,000.00 shares 370,537 535,500 Mercury Fin Co 15,700.00 shares 250,663 259,050 Microsoft Corp 24,500.00 shares 1,108,452 1,264,813 Micron Technology Inc 47,500.00 shares 284,120 1,644,688
30 35 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Minnesota Mng & Mfg Co 9,300.00 shares $ 308,540 $ 461,513 Mirage Resorts Inc 9,700.00 shares 225,530 181,875 Mobil Corp 3,060.00 shares 186,522 249,390 Molex Inc Cl A 16,600.00 shares 498,573 610,050 Morton Intl Inc Ind 7,090.00 shares 306,947 553,020 Motorola Inc 32,000.00 shares 1,352,757 1,428,000 Nalco Chem Co 6,100.00 shares 207,664 194,438 NationsBank Corp 52,300.00 shares 2,578,693 2,686,913 Newbridge Networks Corp 3,800.00 shares 219,543 130,625 Nine West Group Inc 12,519.00 shares 341,491 328,624 Norfolk Southn Corp 18,090.00 shares 856,112 1,139,670 Office Depot Inc 27,000.00 shares 548,977 543,375 Omnicom Group 27,500.00 shares 1,063,838 1,326,875 Oracle Sys Corp 16,200.00 shares 448,619 607,500 Owens Ill Inc New 115,000.00 shares 1,233,885 1,265,000 Oxford Health Plans Inc 2,600.00 shares 154,630 115,700 Pnc Bk Corp 27,870.00 shares 739,995 804,746 Pacific Telesis Group 20,190.00 shares 400,394 620,843 Pepsico Inc 94,230.00 shares 3,484,869 2,885,794 Perrigo Co 18,547.00 shares 363,277 255,021 Pfizer Inc 73,900.00 shares 4,600,591 4,664,938 Pharmacia Ab Sponsored Adr Repstg Ser A Shs 24,340.00 shares 372,402 368,143 Philip Morris Cos Inc 11,540.00 shares 486,909 594,310 Phillips Pete Co 20,690.00 shares 609,401 646,563 Phllips Van Heusen Corp 7,800.00 shares 223,780 195,975 Pitney Bowes Inc 23,700.00 shares 641,243 903,563 Pittston Services Group 16,800.00 shares 480,420 457,800 Promus Cos Inc 17,500.00 shares 585,548 518,438 Pultte Corp Com 21,360.00 shares 622,108 491,280 Regions Finl Corp 17,943.00 shares 525,915 625,762 Repsol Sa sponsored Adr 26,370.00 shares 629,313 754,841 Reuters Hldgs Plc Adr B 23,400.00 shares 691,313 912,600 Rhone Poulenc Rorer 5,980.00 shares 215,452 182,390 Rockwell Intl Corp 45,000.00 shares 1,085,744 1,681,875
31 36 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) Rollins Truck Leasing Corp 75,000.00 shares $1,262,602 $1,256,250 Rubermaid Inc 66,570.00 shares 1,977,656 1,747,463 Salomon Bros Fd Inc 53,938.00 shares 605,742 660,741 Sara Lee Corp 15,240.00 shares 208,707 323,850 Schering Plough Corp 43,880.00 shares 2,432,174 2,687,650 Sensormatic Electrs Corp 49,250.00 shares 1,378,070 1,415,938 Sequent Computer Sys Inc 85,000.00 shares 1,492,250 1,158,125 Shawmut Natl Corp Wt Exp 305,000 shares - 1,449 Sherwin Williams Co 18,000.00 shares 361,413 567,000 Signet Bkg Corp 50,000.00 shares 1,398,750 2,018,680 Southwestern Bell Corp 4,560.00 shares 119,768 198,360 Stewart Enterprises Inc Cl A 26,600.00 shares 578,975 578,550 Stratus Computer Inc 40,000.00 shares 1,305,750 1,130,000 Stride Rite Corp 101,000.00 shares 1,794,430 1,313,000 Stryker Corp 19,000.00 shares 533,008 503,500 Tig Hldgs Inc 23,800.00 shares 533,538 476,000 Tjx Cos Inc New 58,500.00 shares 1,521,596 1,279,688 Tnt Freightways Corp 69,500.00 shares 865,621 1,598,500 Talbots Inc 5,000.00 shares 138,160 150,000 Tele Communications Inc Cl A 60,500.00 shares 1,633,574 1,232,688 Telefonos De Mexico S A Sponsored Adr Repstg Sh Ord L 41,100.00 shares 1,732,201 2,296,463 Temple Inland Inc 23,500.00 shares 721,626 1,119,188 Tenneco Inc 25,000.00 shares 1,211,200 1,159,375 Texaco Inc 38,100.00 shares 2,270,090 2,300,288 Texas Instrs Inc 24,000.00 shares 1,553,365 1,908,000 Time Warner Inc 29,500.00 shares 648,127 1,047,250 Toys R Us Inc 48,700.00 shares 1,782,040 1,594,925 Transatlantic Hldgs Inc 61,100.00 shares 2,528,096 3,192,475 Travelers Inc 70,000.00 shares 1,016,887 2,257,500 Unilever N V Adr 5,130.00 shares 444,540 516,848 Union Camp Corp 12,060.00 shares 514,446 547,223 Union Elec Co 6,000.0 shares 196,530 189,750 Union Pac Corp 45,280.00 shares 2,255,713 2,563,980 United Healthcare Corp 26,400.00 shares 823,461 1,191,300
32 37 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- COMMON STOCK (CONTINUED) United Retail Group Inc 20,317.00 shares $ 376,969 $ 152,378 U S Healthcare Inc 62,615.00 shares 2,027,839 2,316,755 Unocal Corp 9,400.00 shares 286,352 269,075 Value Health Inc 5,600.00 shares 193,021 214,200 Ventritex Inc 10,100.00 shares 206,656 188,113 Vivra Inc 8,400.00 shares 152,770 201,600 Vodafone Group Plc Sponsored Adr 17,000.00 shares 971,380 1,287,750 Wmx Technologies Inc 50,000.00 shares 1,468,340 1,325,000 Wal-Mart Stores Inc 176,200.00 shares 4,766,615 4,272,850 Wall Data Inc 2,300.00 shares 101,309 90,275 Washington Post Co Cl B 6,000.00 shares 1,462,139 1,387,500 Waste Mgmt Intl Plc Sponsored Adr 12,400.00 shares 227,888 223,200 Wellpoint Health Networks Inc 45,500.00 shares 1,225,555 1,342,250 Wells Fargo & Co 12,000.00 shares 852,026 1,804,500 Werner Enterprises Inc 29,400.00 shares 659,516 815,850 West One Bancorp 29,400.00 shares 770,889 845,250 Willamette Inds Inc 35,000.00 shares 1,284,375 1,513,750 Wisconsin Energy Corp 27,440.00 shares 712,063 655,130 Wolters Kluwer N V Sponsored Adr 10,654.00 shares 563,017 629,747 PIC Invt Tr Endeav or Growth Fd 6,778,046.91 principal 71,296,725 71,237,273 Rowe T Price Equity Income Fd 9,181,030.46 principal 139,774,301 147,722,780 ----------------------------------- Total Common Stock 429,522,215 468,878,962 ----------------------------------- COMMON /COLLECTIVE TRUSTS Mgt Comm Fd Real Estate Fd 69,581.00 principal amount 27,713,949 24,448,259 Wells Fargo Bank Equity Index Fund 1,413,164.00 principal amount 118,936,871 140,588,547 ----------------------------------- Total Common/Collective Trusts 146,650,820 165,036,806 ----------------------------------- UNALLOCATED INSURANCE CONTRACTS Allstate Life Ins Co #GA-5526 5,000,668.40 principal, 5% interest, due 6/30/98 5,000,668 5,000,668
33 38 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------- UNALLOCATED INSURANCE CONTRACTS (CONTINUED) Metropolitan Life GAC #11747-5 10,747,136.52 principal, 9.310% interest, due 7/1/94 $ 10,747,137 $ 10,747,137 Confederation Life GIC #62281 3,238,048.95 principal, 9.130% interest, due 8/13/95 3,238,049 3,238,049 Confederation Ins GIC #62298 5,385,202.28 principal, 9.320% interest, due 8/30/95 5,385,202 5,385,202 Trans Occidental Lf Ins #51050 2,793,951.60 principal, 8.650% interest, due 12/31/97 2,793,952 2,793,952 Peoples Security Life Ins Co GIC 2,085,061.72 principal #BDA00238FR 2,085,062 2,085,062 Peoples Sec Lf Ins Co #00240FR 2,065,287.36 principal, 8.130% interest, due 2/1/96 2,065,287 2,065,287 United Omaha GIC #SDGA-10142 1,567,417.83 principal, 8.5% interest, due 12/19/94 1,567,418 1,567,418 Provident Natl GIC #027-04868 6,754,665.76 principal, 9.0% interest, due 1/3/95 6,754,666 6,754,666 Provident Natl #027-04868-02 4,467,111.74 principal, 8.7% interest, due 1/15/96 4,467,112 4,467,112 Confederation Life Ins #62397 5,167,581.33 principal, 8.530% interest, due 2/3/96 5,167,581 5,167,581 State Mutual Life Ins GA-91774 5,135,765.77 principal, 8.070% interest, due 2/27/95 5,135,786 5,135,786 Prudential Ins Amer #GA-6394503 25,735,957.52 principal, 8.050% interest, due 7/1/96 25,735,958 25,735,958 Life Ins Co Vir Ct #GS-1783 5,306,343.86 principal, 8.830% interest, Open Mat 5,306,344 5,306,344 Hartford Life Ins GIC #GA-9257 5,008,861.12 principal, 6.750% interest, due 12/19/94 5,008,861 5,008,861 New York Life Ins GA#-06406 4,173,408.21 principal, 6.850% interest, due 11/1/95 4,173,408 4,173,408 Hartford Life Ins Co GA#9272 4,063,250.05 principal, 6.820% interest, due 3/20/95 4,063,250 4,063,250 State Mutual Life GIC 91774-03 2,549,383.07 principal, 5.830% interest, due 8/15/94 2,549,383 2,549,383
34 39 Harris Corporation Retirement Plan Master Trust Assets Held for Investment (continued) June 30, 1994
DESCRIPTION OF INVESTMENT, INCLUDING MATURITY DATE, IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, PAR OR CURRENT LESSOR OR SIMILAR PARTY MATURITY VALUE COST VALUE - - ------------------------------------------------------------------------------------------------------ UNALLOCATED INSURANCE CONTRACTS (CONTINUED) Metropolitan Life Ins GAC13146 22,892,270.16 principal, 6.990% interest, due 4/30/97 $ 22,892,270 $ 22,892,270 Continental Assur Gic GP-12833 5,421,494.21 principal, 4.840% interest, due 10/15/95 5,421,494 5,421,494 Continental Assurance Co GIC 2,717,202.22 principal, 5.280% interest, due 7/17/95 2,717,202 2,717,202 Continental GIC #GP-12833-026 3,508,799.54 principal, 6.160% interest, due 9/19/96 3,508,780 3,508,780 Continental GIC #GA-12881 21,048,397.49 principal, 5.370% interest, due 4/15/98 21,048,397 21,048,397 United of Omaha Life Ins-10747 2,044,186.29 principal, 4.800% interest, due 1/15/97 2,044,186 2,044,186 New York Life Ins Co #GA-06885 3,062,431.20 principal, 4.660% interest, due 12/20/96 3,062,431 3,062,431 Hartford Life Ins Co GA-9880 3,566,897.33 principal, 5.060% interest, due 3/31/97 3,566,897 3,566,897 Canada Life Assurance #P45832 20,082,490.95 principal, 6.750% interest, due 5/26/99 20,082,491 20,082,491 Allstate Life Ins Co GIC #6532 5,013,555.61 principal, 6.810% interest, due 7/27/98 5,013,556 5,013,556 CDC Invt Mgmt Corp GIC #121-01 4,026,423.72 principal amount, 6.650% interest, due 3/31/98 4,026,424 4,026,424 ------------------------------------ Total Unallocated Insurance Contracts 194,629,252 194,629,252 ------------------------------------ Participant loans 40,405,954 40,405,954 ------------------------------------ Total Investments $1,194,737,777 $1,244,028,054 ====================================
35 40 Harris Corporation Retirement Plan Master Trust Transactions or Series of Transactions in Excess of 5 Percent of Current Value of Plan Assets Year ended June 30, 1994
IDENTITY OF ISSUER, DESCRIPTION OF INVESTMENT, BORROWER, LESSOR OR INCLUDING MATURITY DATE, SIMILAR PARTY RATE OF INTEREST, PAR OR SELLING PURCHASE PRICE/ NET GAIN MATURITY VALUE PRICE COST OF ASSETS (LOSS) - - ----------------------------------------------------------------------------------------------------------------- CATEGORY (III) - SERIES OF TRANSACTIONS IN EXCESS OF 5 PERCENT OF PLAN ASSETS TBC Inc. Pooled Employee 971 purchases - 376,467,010 $376,467,010 Funds Daily Liquidity shares Fund TBC Inc. Pooled Employee 613 sales - 378,912,449 $378,912,449 378,912,449 $ - Funds Daily Liquidity shares Fund Bank of America short-term 29 purchases - 30,113,047 30,113,047 investment fund shares Bank of America short- 24 sales - 40,527,277 40,527,277 40,527,277 - term investment fund shares THERE WERE NO CATEGORY (I), (II) OR (IV) REPORTABLE TRANSACTIONS DURING FISCAL YEAR 1994.
36 41 SIGNATURES The Plans. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plans) have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized. Harris Corporation Retirement Plan /s/ Jeffrey P. Morrill Date: December 23, 1994 -------------------------------------- Jeffrey P. Morrill Plan Administrator Harris Corporation Union Retirement Plan /s/ Jeffrey P. Morrill -------------------------------------- Jeffrey P. Morrill Plan Administrator 42 INDEX
Exhibit Description of Exhibit - - -------- -------------------------- Exhibit No. 23 -- Consent of Ernst & Young (the Plans' Independent Accountants) Exhibit No. 99(a) -- Harris Corporation Retirement Plan (Incorporated by reference to Exhibit No. 10(g) to Annual Report on Form 10-K [Commission File No. 1-3863] for the fiscal year ended June 30, 1994). Exhibit No. 99(b)-- Harris Corporation Union Retirement Plan (Incorporated by reference to Exhibit 99(a) to the Registration Statement on Form S-8 filed with the Securities and Exchange Commission on September 3, 1993 [Registration No. 33-50167]).
EX-23 2 HARRIS CORPORATION EX-23 1 EXHIBIT 23 CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS We consent to the incorporation by reference in the following registration statements of Harris Corporation pertaining to the Harris Corporation Retirement Plan and the Harris Corporation Union Retirement Plan of our report dated September 30, 1994, with respect to the financial statements and schedules of the Harris Corporation Retirement Plan Master Trust included in this Annual Report (Form 11-K) for the year ended June 30, 1994; Form S-8 No. 33-50169 Harris Corporation Retirement Plan Form S-8 No. 33-50167 Harris Corporation Union Retirement Plan /s/ ERNST & YOUNG LLP Orlando, Florida December 23, 1994 -----END PRIVACY-ENHANCED MESSAGE-----