-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N/3Abwy+uqonbFyWF8OlxdXBsvAr2EYbTVsk14trlvZ52hW49khZHudFl6O7l992 aswlP6FY3DCkJpOuvCvMzA== 0000912057-01-522197.txt : 20010702 0000912057-01-522197.hdr.sgml : 20010702 ACCESSION NUMBER: 0000912057-01-522197 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20010629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL RECTIFIER CORP /DE/ CENTRAL INDEX KEY: 0000316793 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 951528961 STATE OF INCORPORATION: DE FISCAL YEAR END: 0629 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-07935 FILM NUMBER: 1672710 BUSINESS ADDRESS: STREET 1: 233 KANSAS ST CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 3107268000 11-K 1 a2053272z11-k.htm FORM 11-K Prepared by MERRILL CORPORATION
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SECURITY AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549



FORM 11-K


/x/

Annual Report Pursuant To Section 15(D) of The Securities Exchange Act of 1934 (Fee Required)

For the fiscal year ended December 31, 2000

OR

/ /

Transition Report Pursuant To Section 15(D) of The Securities Exchange Act of 1934 (No Fee Required)

For the transition period from                to               

Commission File Number  001-07935

      A.
      Full title of the plan and address of the plan, if different from that of the issuer named below:

      INTERNATIONAL RECTIFIER CORPORATION
      RETIREMENT SAVINGS PLAN

      B.
      Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

      INTERNATIONAL RECTIFIER CORPORATION
      233 KANSAS STREET
      EL SEGUNDO, CALIFORNIA 90245




International Rectifier Corporation
Retirement Savings Plan
Report on Financial Statements
and Supplemental Schedule
For the Years Ended December 31, 2000 and 1999



SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

INTERNATIONAL RECTIFIER CORPORATION RETIREMENT SAVINGS PLAN


 

 

 

/s/ 
MICHAEL P. MCGEE   
Michael P. McGee
Member of Administrative Committee


International Rectifier Corporation
Retirement Savings Plan
For the Years Ended December 31, 2000 and 1999

 
  Page
Financial Statements:    
 
Report of Independent Accountants

 

1
 
Statements of Net Assets Available For Benefits
As of December 31, 2000 and 1999

 

2
 
Statements of Changes In Net Assets Available For Benefits
For the Years Ended December 31, 2000 and 1999

 

3
 
Notes to Financial Statements

 

4-7

Supplemental Schedule:

 

 
 
Schedule of Assets Held For Investment Purposes
At December 31, 2000

 

9

Exhibit Index

 

16
 
23.1—Consent of Independent Accountants

 

17

Certain supplemental schedules have been omitted because they are not applicable to the International Rectifier Corporation Retirement Savings Plan.



Report of Independent Accountants

To the Participants and Administrator of the
International Rectifier Corporation Retirement Savings Plan:

In our opinion, the accompanying statements of net assets available for benefits and the related statements of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the International Rectifier Corporation Retirement Savings Plan (the "Plan") at December 31, 2000 and 1999, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America. 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 of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audits 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, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets held for investment purposes at December 31, 2000 is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

June 22, 2001

1



International Rectifier Corporation
Retirement Savings Plan
Statements of Net Assets Available For Benefits
As of December 31, 2000 and 1999

 
  2000
  1999
Assets:            
 
Investments at fair value

 

$

71,658,322

 

$

67,674,963
   
 
   
Total investments

 

 

71,658,322

 

 

67,674,963
 
Employee contributions receivable

 

 

126,803

 

 

115,805
  Employer contributions receivable     143,076     126,977
   
 
   
Total receivables

 

 

269,879

 

 

242,782
   
 
   
Net assets available for benefits

 

$

71,928,201

 

$

67,917,745
   
 

The accompanying notes are an integral part of these financial statements.

2



International Rectifier Corporation
Retirement Savings Plan
Statements of Changes in Net Assets Available For Benefits
For the Years Ended December 31, 2000 and 1999

 
  2000
  1999
Additions to (deductions from) net assets attributed to:            
  Contributions:            
    Employee   $ 5,831,896   $ 5,156,644
    Employer     1,295,707     1,236,427

Investment income:

 

 

 

 

 

 
    Dividend income     3,427,105     3,535,014
    Interest income     221,208     204,317
    Net appreciation (depreciation) in the fair value of investments     (1,161,005 )   16,227,306
   
 
      Total additions     9,614,911     26,359,708
   
 

Deductions from net assets attributed to:

 

 

 

 

 

 
  Benefits paid to participants     5,590,813     3,028,095
  Administrative fees     13,642     9,439
   
 
     
Total deductions

 

 

5,604,455

 

 

3,037,534
   
 
     
Net increase in net assets

 

 

4,010,456

 

 

23,322,174

Net assets available for benefits:

 

 

 

 

 

 
    Beginning of year     67,917,745     44,595,571
   
 
    End of year   $ 71,928,201   $ 67,917,745
   
 

The accompanying notes are an integral part of these financial statements.

3



International Rectifier Corporation
Retirement Savings Plan
Notes to Financial Statements

1.  Description of the Plan

    The following description of the International Rectifier Corporation Retirement Savings Plan (the "Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions.

    General

    International Rectifier Corporation (the "Company") established the Plan on April 1, 1988. The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended.

    In September 2000, the Company acquired the business assets of Magnitude-3 LLC ("Magnitude-3"). Employees of Magnitude-3 became eligible to participate in the Plan, and to rollover their account balances into the Plan, on September 21, 2000.

    Eligibility

    An employee is eligible to participate in the Plan on the first day of the payroll period which falls immediately after the later of (i) the date which is 90 days after his or her date of hire, or (ii) the date on which he or she attains age 18.

    Contributions

    Effective January 1, 1998, participants may elect to make contributions up to 15% of their pretax annual compensation, as defined in the Plan. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans. The Company contributes an amount equal to 150% of the first $200 of the participant's contribution, 50% of the next $1,400, and 25% of the next $800 in a Plan year. The aggregate matching contribution made by the Company shall not exceed $1,200 per participant in a Plan year. In addition to the Company's matching contribution, the Board of Directors may make annual discretionary contributions in the form of cash or Company stock. For the years ended December 31, 2000 and 1999, no discretionary matching contributions were authorized by the Board.

    Effective January 1, 2001, the Company's matching contribution was changed to 150% of the first $200 of the participant's contribution, plus 50% of the next $5,400.

    Vesting

    Participants are immediately vested in their contributions and the Company's matching and discretionary contributions plus actual earnings thereon.

    Participant Accounts

    Each participant's account is credited with the participant's contributions and allocations of the Company's contribution and Plan earnings. Allocations are based on participant contributions or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

4


    Investment Programs

    The trustee for the Plan is Fidelity Management Trust Company. All accounts are held in trust funds, Company stock or a self-directed brokerage account, which primarily consist of cash and cash equivalents, common stock and mutual funds. All accounts are invested in accordance with the terms of the Plan and investment options elected by Plan participants.

    The self-directed brokerage account was offered to Plan participants beginning in 2000 and it enables Plan participants to purchase or sell individual securities within their accounts. The Plan document defines the eligible securities the participants can invest in within the self-directed brokerage account. The custodian of the Plan is Fidelity Brokerage Service, Inc. Fidelity Brokerage executes the investment transactions, collects interest and dividend income and retains custody of the investment securities within the guidelines of ERISA.

    Participants can allocate their contributions and account balances to any or all of the investment fund options and the self-directed brokerage account. Participants may transfer their account balances, or a portion thereof, from one fund to another or from a fund to the self-directed brokerage account. However, all assets transferred from the self-directed brokerage account are first credited to a default fund designated by the Plan. The participants may then transfer their account balances to other funds.

    The participants may not make direct transfers from the Managed Income Portfolio into the self-directed brokerage account.

    Participant Loans

    The Plan allows participants to borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of 50% of their account balance or $50,000 less any outstanding loan balance from the Plan during the prior 12 months. Loan terms range from 1-5 years or up to 10 years for the purchase of a primary residence. The loans are collateralized by the balance in the participant's account and bear interest at a rate commensurate with current prevailing rates. Principal and interest is paid ratably through bi-weekly payroll deductions.

    Benefit Payments

    Upon termination of service, a participant will receive a lump-sum amount equal to the value of the participant's account, as defined by the Plan, unless the participant chooses to leave the account balance in the Plan. Participants are not qualified to leave their account balances in the Plan unless their account balance exceeds $5,000 and their age is under 65. Benefits are recorded when paid.

2.  Summary of Accounting Policies

    Basis of Accounting

    The accompanying financial statements of the Plan are prepared using the accrual method of accounting and in accordance with the accounting principles generally accepted in the United States of America.

    Use of Estimates

    The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that

5


    affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts in the statement of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates.

    Risks and Uncertainties

    The Plan provides for various investment options in mutual funds and other securities. Investment securities are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in risks in the near term would materially affect participants' account balances and the amounts reported in the statement of net assets available for benefits and the statement of changes in net assets available for benefits.

    Investments

    The Plan's investments in shares of registered investment company mutual funds and common stock are valued at the last quoted sales price on the last business day of the year. Investments in commingled trust funds are valued at estimated fair values according to methods selected in good faith by the trustee. Participant loans are valued at the unpaid amount of the loan which is estimated to approximate fair value.

    Purchases and sales of securities are reflected on a trade date basis. The basis for all securities sold is determined by average cost. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in fair value of its investments, which consists of the realized gains or losses and unrealized appreciation or depreciation on those investments.

3.  Investments

    The following are investments that represent 5% or more of the Plan's net assets at December 31:

 
  2000
  1999
International Rectifier Stock Unit Fund   $ 14,763,591   $ 12,355,485
Fidelity Growth Company Fund     19,714,034     21,431,522
Fidelity Intermediate Bond Fund     3,779,220     3,873,248
Fidelity Value Fund     7,812,864     8,739,015
Fidelity Retirement Government Money Market Portfolio     7,070,935     6,888,365
Managed Income Portfolio     6,223,295     5,673,513
Fidelity U.S. Equity Index Fund         4,145,779
Participant Loans     3,656,026    

    During 2000, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value by ($1,161,005) as follows:

Mutual funds   ($ 3,706,928 )
Company common stock     3,604,843  
Self-directed brokerage account     (1,058,920 )
   
 
    ($ 1,161,005 )
   
 

6


4.  Related-Party Transactions

    Certain of the Plan's investments are shares of mutual funds managed by Fidelity Management Trust Company, the trustee of the Plan, as defined by the Plan agreement. In addition, the investment transactions within the self-directed brokerage account are executed by Fidelity Brokerage Service, Inc., the custodian of the Plan. Therefore, these transactions qualify as party-in-interest transactions for which a statutory exemption exists. Fees paid by the Plan for investment management services were nominal for the years ended December 31, 2000 and 1999.

    The Company also qualifies as a party-in-interest and absorbs certain administrative expenses of the Plan. The Company paid approximately $46,000 and $32,000 of administrative expenses on behalf of the Plan for the years ended December 31, 2000 and 1999, respectively. Such transactions with the Company qualify for a statutory exemption.

5.  Plan Termination

    Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. The account balances of the participants affected by a partial or complete termination of the Plan are nonforfeitable and will be determined as of the termination date.

6.  Tax Status of The Plan

    The Plan has obtained a favorable tax determination letter from the Internal Revenue Service dated February 26, 1998. The Plan administrator and the Plan's tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the Internal Revenue Code (the "Code").

    Under the provisions of Section 401(k) of the Code, contributions to the Plan are not taxable until distributed to the participants.

7.  Subsequent Events

    In March 2000, the Company acquired Zing Technologies, Inc. and its wholly owned subsidiary, Omnirel LLC ("Omnirel"). Participants in the Omnirel 401(k) plan became eligible to participate in the Plan on January 1, 2001. Effective January 2, 2001, the Company merged the net assets of the Omnirel 401(k) plan of $1,864,812 into the Plan.

    In October 2000, the Company acquired Lambda Advanced Analog, Inc. ("Lambda") from SI U.S. Finance, Inc. ("SI"). Employees of Lambda became eligible to participate in the Plan and to rollover their current balances to the Plan from SI's savings plan on January 1, 2001.

7



Supplemental Schedule

8



International Rectifier Corporation
Retirement Savings Plan
Schedule of Assets Held for Investment Purposes
At December 31, 2000**

(a)

  (b) Identity of Issue, Borrower, Lessor or Similar Party
  (c) Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value
  (d) Cost
  (e) Current Value
*   International Rectifier Stock Unit Fund   Company Stock       $ 14,763,591
*   Fidelity Growth Company Fund   Shares in Registered Investment Company         19,714,034
*   Fidelity Intermediate Bond Fund   Shares in Registered Investment Company         3,779,220
*   Fidelity Value Fund   Shares in Registered Investment Company         7,812,864
*   Fidelity Low-Priced Stock Fund   Shares in Registered Investment Company         862,394
*   Fidelity Diversified International Fund   Shares in Registered Investment Company         1,341,980
*   Fidelity Retirement Government Money Market Portfolio   Shares in Registered Investment Company         7,070,935
*   Managed Income Portfolio   Shares in Commingled Trust Fund         6,223,295
*   Fidelity U.S. Equity Index Fund   Shares in Registered Investment Company         2,686,382
*   Fidelity Fund   Shares in Registered Investment Company         247,228
*   Fidelity Equity, Inc.   Shares in Registered Investment Company         212,905
*   Fidelity Blue Chip   Shares in Registered Investment Company         901,942
*   Fidelity Freedom Income   Shares in Registered Investment Company         44,065
*   Fidelity Freedom 2000   Shares in Registered Investment Company         14,510
*   Fidelity Freedom 2010   Shares in Registered Investment Company         241,360
*   Fidelity Freedom 2020   Shares in Registered Investment Company         177,798
*   Fidelity Freedom 2030   Shares in Registered Investment Company         165,436
    Asia Global Crossing Class A   Shares in Self-Directed Brokerage Account***         1,313
    Globalstar Telecom Ltd.   Shares in Self-Directed Brokerage Account***         1,993

9


    Xoma Ltd.   Shares in Self-Directed Brokerage Account***       $ 4,875
    ADC Telecommunications, Inc. Com   Shares in Self-Directed Brokerage Account***         18,487
    Adaptive Broadband Corp. Com   Shares in Self-Directed Brokerage Account***         1,164
    Advanced Micro Devices Inc. Com   Shares in Self-Directed Brokerage Account***         3,522
    Agilent Technologies, Inc. Com   Shares in Self-Directed Brokerage Account***         2,738
    Altera Corp. Com   Shares in Self-Directed Brokerage Account***         2,105
    America Online, Inc. Del Com   Shares in Self-Directed Brokerage Account***         6,960
    Amkor Technology, Inc.   Shares in Self-Directed Brokerage Account***         3,569
    Anadigics, Inc. Com   Shares in Self-Directed Brokerage Account***         1,637
    Analog Devices, Inc. Com   Shares in Self-Directed Brokerage Account***         24,570
    Applied Micro Circuits Corp.   Shares in Self-Directed Brokerage Account***         199,625
    Applied Materials, Inc.   Shares in Self-Directed Brokerage Account***         3,819
    Ariad Pharmaceuticals, Inc.   Shares in Self-Directed Brokerage Account***         950
    At Home Jan 421/2 Call   Shares in Self-Directed Brokerage Account***         19
    Asyst Technologies, Inc. Com   Shares in Self-Directed Brokerage Account***         2,688
    August Technology Corp. Com   Shares in Self-Directed Brokerage Account***         2,588
    Avaya, Inc. Com   Shares in Self-Directed Brokerage Account***         1,083
    Avici Sys., Inc.   Shares in Self-Directed Brokerage Account***         616
    Broadband Holders TR DP RPT 12-31-40   Shares in Self-Directed Brokerage Account***         36,450
    Broadcom Corp.   Shares in Self-Directed Brokerage Account***         110,964
    Brokat Aktiengesellschaft, ADR Sponsored, MER from 09347T109   Shares in Self-Directed Brokerage Account***         1,189

10


    Caldera Sys., Inc. Com   Shares in Self-Directed Brokerage Account***       $ 1,162
    Centura Software Corp. Com   Shares in Self-Directed Brokerage Account***         2,343
    China Unicon Ltd. ADR Sponsored   Shares in Self-Directed Brokerage Account***         737
    Cisco Sys., Inc. Com   Shares in Self-Directed Brokerage Account***         144,126
    Cirrus Logic, Inc. Com   Shares in Self-Directed Brokerage Account***         8,438
    Cirrus Logic Jan. 30 Call   Shares in Self-Directed Brokerage Account***         200
    Click Comm, Inc. Com   Shares in Self-Directed Brokerage Account***         10,437
    Conexant Sys., Inc. Com   Shares in Self-Directed Brokerage Account***         3,075
    Copper Mtn. Networks, Inc. Com   Shares in Self-Directed Brokerage Account***         5,906
    Corning, Inc. Com   Shares in Self-Directed Brokerage Account***         6,338
    Credence Sys. Corp. Com   Shares in Self-Directed Brokerage Account***         4,600
    Cree Resh, Inc. Com   Shares in Self-Directed Brokerage Account***         3,553
    Davox Corp. Com   Shares in Self-Directed Brokerage Account***         9,750
    Dell Computer Corp. Com   Shares in Self-Directed Brokerage Account***         3,488
    Dobson Communications Corp. Class A   Shares in Self-Directed Brokerage Account***         2,925
    DSL Net, Inc. Com   Shares in Self-Directed Brokerage Account***         159
    Dycom Inds., Inc.   Shares in Self-Directed Brokerage Account***         3,234
    E M C Corp. Mass. Com   Shares in Self-Directed Brokerage Account***         19,950
    Echelon Corp. Com   Shares in Self-Directed Brokerage Account***         6,425
    Echostar Commun. Corp. New Class A   Shares in Self-Directed Brokerage Account***         6,825
    Etoys, Inc. Com   Shares in Self-Directed Brokerage Account***         94

11


    Exodus Communications, Inc.   Shares in Self-Directed Brokerage Account***       $ 10,000
*   Fidelity Cash Reserves   Shares in Self-Directed Brokerage Account         487,433
    Firsthand Technology Value   Shares in Self-Directed Brokerage Account***         2,462
    GSI Lumonics, Inc. Com SHS   Shares in Self-Directed Brokerage Account***         1,840
    General Magic, Inc.   Shares in Self-Directed Brokerage Account***         562
    Genuity, Inc. Class A   Shares in Self-Directed Brokerage Account***         506
    Globespan, Inc. Com   Shares in Self-Directed Brokerage Account***         12,375
    Harmonic Lightwaves, Inc. Com   Shares in Self-Directed Brokerage Account***         569
    Immunogen, Inc. Com   Shares in Self-Directed Brokerage Account***         4,288
    Integrated Device Technology, Inc. Com   Shares in Self-Directed Brokerage Account***         4,306
    Intel Corp. Com   Shares in Self-Directed Brokerage Account***         27,057
    Intel Corp.: Call 1/19/99; in Account 651-047406-1; Jan. 135   Shares in Self-Directed Brokerage Account***         62
    International Rectifier Corp. Com   Shares in Self-Directed Brokerage Account***         60
    JDS Uniphase Corp. Com   Shares in Self-Directed Brokerage Account***         4,377
    Juniper Networks, Inc. Com   Shares in Self-Directed Brokerage Account***         13,614
    Kana Communications, Inc. Com   Shares in Self-Directed Brokerage Account***         8,740
    Kopin Corp. Com   Shares in Self-Directed Brokerage Account***         1,106
    LSI Logic Corporation   Shares in Self-Directed Brokerage Account***         1,709
    Lantronix, Inc. Com   Shares in Self-Directed Brokerage Account***         5,272
    Learn2.com, Inc. Com   Shares in Self-Directed Brokerage Account***         203
    Lucent Technologies, Inc. Com   Shares in Self-Directed Brokerage Account***         12,488

12


    MRV Communications, Inc. Com   Shares in Self-Directed Brokerage Account***       $ 602
    M-Wave, Inc. Com   Shares in Self-Directed Brokerage Account***         960
    Mattel, Inc. Com   Shares in Self-Directed Brokerage Account***         7,220
    Mediaplex, Inc. Com   Shares in Self-Directed Brokerage Account***         528
    Metricon, Inc. Com   Shares in Self-Directed Brokerage Account***         20,076
    Microsoft Corp. Com   Shares in Self-Directed Brokerage Account***         17,350
    Microstrategy, Inc.   Shares in Self-Directed Brokerage Account***         4,750
    Motorola, Inc. Com   Shares in Self-Directed Brokerage Account***         109,350
    NABI   Shares in Self-Directed Brokerage Account***         3,237
    NASDAQ 100 TR Unit Series 1   Shares in Self-Directed Brokerage Account***         3,503
    National Semiconductor Corp. Com   Shares in Self-Directed Brokerage Account***         2,012
    Nokia Corp. Sponsored ADR   Shares in Self-Directed Brokerage Account***         8,700
    Nortel Networks Corp. New N/C from 656569100   Shares in Self-Directed Brokerage Account***         20,843
    Novell, Inc. Com   Shares in Self-Directed Brokerage Account***         2,610
    White Oak Growth Stock Fund   Shares in Self-Directed Brokerage Account***         2,636
    Pin Oak Aggressive Stock Fund   Shares in Self-Directed Brokerage Account***         2,262
    Red Oak Tech Select Fund   Shares in Self-Directed Brokerage Account***         24,543
    Optimal Robotics Corp. Class A   Shares in Self-Directed Brokerage Account***         9,230
    Oracle Sys. Corp. Com   Shares in Self-Directed Brokerage Account***         5,813
    P D C Innovation Inds., Inc. Com New   Shares in Self-Directed Brokerage Account***         220
    PMC-Sierra, Inc. Com   Shares in Self-Directed Brokerage Account***         15,725

13


    Palm, Inc. Com   Shares in Self-Directed Brokerage Account***       $ 14,156
    Paychex, Inc. Com   Shares in Self-Directed Brokerage Account***         10,698
    Pericom Semiconductor Corp.   Shares in Self-Directed Brokerage Account***         5,550
    Pro Net Link Corp.   Shares in Self-Directed Brokerage Account***         10,622
    Qualcomm, Inc. Com   Shares in Self-Directed Brokerage Account***         20,547
    Rambus, Inc. Del Com   Shares in Self-Directed Brokerage Account***         49,311
    Red Hat, Inc. Com   Shares in Self-Directed Brokerage Account***         6,563
    Research in Motion, Ltd. Com   Shares in Self-Directed Brokerage Account***         21,600
    Rite Aid Corp. Com   Shares in Self-Directed Brokerage Account***         1,069
    SCI Sys., Inc. Com   Shares in Self-Directed Brokerage Account***         2,637
    Siliconix, Inc. Com New   Shares in Self-Directed Brokerage Account***         8,550
    Simtek Corp. Com   Shares in Self-Directed Brokerage Account***         720
    Sun Microsystems, Inc. Com   Shares in Self-Directed Brokerage Account***         18,119
    Telaxis Communications Corp. Com   Shares in Self-Directed Brokerage Account***         4,079
    Texas Instruments, Inc.   Shares in Self-Directed Brokerage Account***         6,159
    Triant Technologies, Inc. Com   Shares in Self-Directed Brokerage Account***         593
    U.S. Wireless Data, Inc.: Class A New; R/S from 912899101   Shares in Self-Directed Brokerage Account***         1,138
    Van Wagoner FDS, Inc. Mid-Cap FD   Shares in Self-Directed Brokerage Account***         2,376
    Vertex Inds., Inc. Com   Shares in Self-Directed Brokerage Account***         4,000
    Visionglobal Corp. Com   Shares in Self-Directed Brokerage Account***         219
    Vitesse Semiconductor Corp. Com   Shares in Self-Directed Brokerage Account***         5,531

14


    Worldcom, Inc. GA New: N/C from 55268B186   Shares in Self-Directed Brokerage Account***       $ 4,219
    Yahoo, Inc. Com   Shares in Self-Directed Brokerage Account***         6,013
    Participant loans receivable   Interest rates range from 7.00% to 9.75% and the notes are collateralized by participant account balances. The loans mature between January 2001 and August 2010.         3,656,026
               
                $ 71,658,322
               

*
A party-in-interest for which a statutory exemption exists.

**
Under ERISA, an asset held for investment purposes is any asset held by the Plan on the last day of the Plan's fiscal year and disposed of at any time before the last day of the Plan's fiscal year, with certain exceptions.

***
Investment transactions in the self-directed brokerage account are executed by Fidelity Brokerage Service, Inc., a party-in-interest for which a statutory exemption exists.

15



International Rectifier Corporation
Retirement Savings Plan
Exhibit Index

Exhibit

  Description

23.1   Consent of PricewaterhouseCoopers LLP

16




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FORM 11-K
SIGNATURES
Retirement Savings Plan
Report of Independent Accountants
Statements of Net Assets Available For Benefits As of December 31, 2000 and 1999
Statements of Changes in Net Assets Available For Benefits For the Years Ended December 31, 2000 and 1999
Notes to Financial Statements
Supplemental Schedule
Schedule of Assets Held for Investment Purposes At December[nc_nb] 31, 2000
Exhibit Index
EX-23.1 2 a2053272zex-23_1.htm EXHIBIT 23.1 Prepared by MERRILL CORPORATION
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Exhibit 23.1


Consent of Independent Accountants

We hereby consent to the incorporation by reference in the Registration Statements of International Rectifier Corporation on Forms S-8 (File Nos. 33 44332 and 333 57575) of our report, dated June 22, 2001, relating to the financial statements of the International Rectifier Corporation Retirement Savings Plan, which appears in this Form 11-K.

PricewaterhouseCoopers LLP
Los Angeles, California
June 22, 2001

17




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Exhibit 23.1
Consent of Independent Accountants
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