-----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, UFSX1gEg/+EDB7P+pT80pkE0kmDZIdDi+XKpQe2WJL4rV3oQToqmoT9rfp//VqgB k5p+crFbEfo8uJZEKfKlUA== 0000950152-06-005463.txt : 20060629 0000950152-06-005463.hdr.sgml : 20060629 20060629080904 ACCESSION NUMBER: 0000950152-06-005463 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 FILED AS OF DATE: 20060629 DATE AS OF CHANGE: 20060629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEINZ H J CO CENTRAL INDEX KEY: 0000046640 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030] IRS NUMBER: 250542520 STATE OF INCORPORATION: PA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03385 FILM NUMBER: 06931660 BUSINESS ADDRESS: STREET 1: 600 GRANT ST CITY: PITTSBURGH STATE: PA ZIP: 15219 BUSINESS PHONE: 4124565700 MAIL ADDRESS: STREET 1: P O BOX 57 STREET 2: P O BOX 57 CITY: PITTSBURGH STATE: PA ZIP: 15230 11-K 1 l19614ae11vk.txt H.J. HEINZ COMPANY 11-K/SAVER PLAN SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005 [ ] 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 1-3385 H. J. HEINZ COMPANY SAVER PLAN (Title of Plan) H. J. HEINZ COMPANY (Name of Issuer of securities held pursuant to the Plan) 600 GRANT STREET PITTSBURGH, PA 15219 (Address of Plan and of principal executive office of Issuer) FINANCIAL STATEMENTS AND EXHIBITS The following Plan financial statements are attached hereto: 1. Report of Independent Registered Public Accounting Firm 2. Statements of Net Assets Available for Benefits as of December 31, 2005 and 2004 3. Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2005 4. Notes to Financial Statements 5. Supplemental Schedule of Assets (Held at End of Year) Exhibits required to be filed by Item 601 of Regulation S-K are listed below and are filed as a part hereof. Documents not designated as being incorporated herein by reference are filed herewith. The paragraph number corresponds to the exhibit number designated in Item 601 of Regulation S-K. 23. The consent of Independent Registered Public Accounting Firm dated June 28, 2006 is filed herein. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefits Administration Board has duly caused this Form 11-K Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania. H. J. HEINZ COMPANY SAVER PLAN (Name of Plan) EMPLOYEE BENEFITS ADMINISTRATION BOARD By: /s/ RANDOLPH W. KEUCH ................................... Randolph W. Keuch Vice President, Total Rewards June 22, 2006 2 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To The Participants and the H. J. Heinz Company Employee Benefits Administration Board: In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of H. J. Heinz Company SAVER Plan (the "Plan") at December 31, 2005 and 2004, and the changes in net assets available for benefits for the year ended December 31, 2005 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 the standards of the Public Company Accounting Oversight Board (United States). Those standards 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 H, Line 4i -- Schedule of Assets (Held at End of Year) 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 audits 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. /s/ PricewaterhouseCoopers LLP Pittsburgh, Pennsylvania June 28, 2006 3 H. J. HEINZ COMPANY SAVER PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, -------------------------------- 2005 2004 ----------- ----------- Assets: Investment in Master Trust (Notes 4 and 7) $49,535,538 $44,399,600 Cash Equivalents 208,773 190,215 Participant Loans (Note 1) 32,495 22,464 Contributions receivable: Employee 467,903 398,806 Employer 245,835 194,949 ----------- ----------- Total contributions receivable 713,738 593,755 ----------- ----------- Total Assets 50,490,544 45,206,034 ----------- ----------- Liabilities: Accrued administrative expenses 21,419 6,057 ----------- ----------- Total Liabilities 21,419 6,057 ----------- ----------- Net Assets Available for Benefits $50,469,125 $45,199,977 =========== ===========
The accompanying notes are an integral part of the financial statements. 4 H. J. HEINZ COMPANY SAVER PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS for the Year Ended December 31, 2005 Net change in Investment in Master Trust (Note 7) $ 626,079 Participant Loan Repayments (14,189) Contributions: Participant contributions 4,728,097 Employer contributions, net 3,220,701 ----------- Increase in Plan assets 8,560,688 ----------- Deductions: Withdrawals and Distributions 5,103,188 Administrative expenses 65,092 ----------- Decrease in Plan assets 5,168,280 ----------- Transferred in from other plans (Note 8) 1,876,740 Net increase in net assets available for benefits for the year 5,269,148 Net assets available for benefits at the beginning of the year 45,199,977 Net assets available for benefits at ----------- the end of the year $50,469,125 ===========
The accompanying notes are an integral part of the financial statements. 5 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (1) PLAN DESCRIPTION: The following description of the H. J. Heinz Company ("Company") SAVER Plan ("Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions. General The Plan is a defined contribution plan covering eligible hourly employees actively employed by the Company or any of the affiliated companies, and who are in a division, or plant of a division, of the Company authorized to participate in the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The administration of the Plan and the responsibility for interpreting and carrying out its provisions is vested in the Employee Benefits Administration Board ("Committee"). The Committee consists of members appointed by the Board of Directors of the Company ("The Board") upon the recommendation of the Investment and Retirement Plan Oversight Committee of the Company. The members of the Committee are not compensated for serving on the Committee. Mellon Bank, N.A. is trustee ("Trustee") of the Plan. Eligibility Regular full time employees are eligible to participate in the Plan upon completion of a probationary period. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Investment Risks The Plan provides for various investment options as described in Note 4. Any investment is exposed to various risks, such as interest rate, market and credit. These risks could result in a material effect on participants' account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits. Contributions Participant contributions to the Plan may be either tax deferred or after tax. The total of a participant's tax deferred and after tax contributions may not exceed 20% of their compensation. A participant may make contributions into one or more of the investment funds as described in Note 4, in whole percentages, of not less than 1% of earnings. Tax deferred contributions made by certain highly compensated participants may be limited under Internal Revenue Code of 1986, as amended (the "Code") rules. Tax deferred contributions by any participant under the Plan and any other qualified cash or deferred arrangement were limited to $14,000 ($18,000 if over age 50) in 2005 and $13,000 ($16,000 if over age 50) in 2004. The Committee gives a participant affected by these limitations timely notification. 6 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) Contributions (continued) Participating locations may make matching contributions in the form of Company stock, on a monthly basis. The Board makes the determination of the amount of such contribution after considering recommendations made by appropriate officers of participating affiliated companies or divisions. The amount of such contribution may be different for any specified group of participants. For the years ended December 31, 2005 and 2004, the matching contribution ranged from $.50 to $1.00 for each tax deferred dollar (up to 3% of participants' eligible earnings). The Company reserves the right to limit the maximum amount of matching contributions that may be contributed on behalf of any participant. Additionally, the Company may, but is not required to, contribute for each Plan year an additional supplemental amount determined by the Committee. The supplemental contribution is allocated to the supplemental contribution accounts of all eligible participants on a pro rata basis according to the ratio of each participant's earnings for the plan year to the total earnings of all participants for the plan year. Supplemental contributions are reflected in the Plan financial statements in the year in which the Committee approves them. The supplemental contributions were $715,750 for the year ended December 31, 2005 and $657,371 for the year ended December 31, 2004. At certain locations, the Company will make monthly, age-related contributions to the accounts of eligible employees who direct the investment of such contributions into one or more of the investment funds described in Note 4. The age-related contributions are based on percentages of participants' eligible earnings and range from a rate of 1% for participants who are less than 30 years old to a rate of 8.5% for participants who are 65 years old and over. A participant may transfer amounts received from other retirement plans to the Plan. Amounts that are transferred from other retirement plans are held in a separate rollover account. Participant Accounts Each participant's account is credited with the participant's contribution(s) and allocation of (a) the Company's matching, supplemental, and age-related contribution(s), as defined, and (b) Plan earnings. Allocations are based on participant earnings 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. Vesting The value of a participant's tax deferred account, after tax account, and rollover account is fully vested at all times. In general, participant's matching accounts vest after three years of service, and their age-related and supplemental accounts vest after five years of service. However, regardless of a participant's years of service, job elimination, workforce reduction, termination of employment in the year of attainment of age 55 or after, attainment of age 65, total and permanent disability, or death automatically vest any non-vested accounts. 7 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) Withdrawals and Distributions A participant may elect to withdraw from their after tax or rollover account up to 100% of their account balance. A participant's tax deferred contributions will be available for withdrawal if: (a) The participant is eligible for a "hardship" withdrawal in accordance with the rules established by the Internal Revenue Service ("IRS"), or (b) The participant has attained age 59 1/2. A participant may not make withdrawals from the Company matching, supplemental, or age-related accounts during active employment. A participant who qualifies for a hardship withdrawal is suspended from making contributions to the Plan for six months. Under present IRS rules, a "hardship" means an immediate and heavy need to draw on financial resources to meet obligations related to health, education or housing. A participant, upon termination of service, may either receive a lump-sum payment of their account balance or transfer their account balance to the trustee or custodian of another eligible retirement plan. Upon retirement, a participant may transfer their account balance to the Employees' Retirement System to purchase an annuity. Loans The granting of additional participant loans is prohibited by the Plan. However, the Plan administers participant loans of plans that are merged into the Plan. The interest rates for all outstanding loans for the years ended December 31, 2005 and 2004 ranged from 5.25% to 11.0% and 5.5% to 11.0%, respectively. Payment of principal and interest is by payroll deduction, subject to rules permitting prepayment. Repayments of the loan principal will be allocated first to the participant's after tax account, and then to the participant's tax-deferred account. Payments of loan interest are allocated to the participant's after-tax account and tax-deferred account, respectively, in the same proportion that the outstanding principal of the loan was attributable to such accounts at the end of the month preceding the payment. Payments of principal and interest are reinvested in the investment fund(s) in accordance with the participant's investment elections in effect at the time such interest or principal repayment is received by the Trustee. Termination The term of the Plan is indefinite, subject to termination at any time by the Board. In the event the Plan is terminated or the Company contributions are permanently discontinued, participants will become fully vested in the Company contributions. The Company has no intention to terminate the Plan at this time. Administration Expenses The Trustees may pay expenses of the Plan including record-keeping fees, administrative charges, professional fees, and trustee fees, from the assets of the Trust Funds unless paid by the Company. Expenses are paid from plan assets up to 15 basis points (10 in 2004) of the net asset value during the plan year. The Company pays expenses in excess of the amount covered by the basis point accrual. For the years ended December 31, 2005 and 2004, Plan expenses were $65,092 and $42,829, respectively. Expenses absorbed by the Plan were allocated to the various funds of the Plan based on the ratio of the individual fund as a percentage of the total asset value of the Plan's funds. Cash Equivalents Cash equivalents are defined as highly liquid investments with original maturities of 90 days or less. 8 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Investment Valuation Investments in the Master Trust are valued as follows: The value of the shares in a mutual fund is based on the market value of the underlying securities in the fund. Investments in securities traded on a national exchange are valued at the last reported sales price on the last business day of the year. Temporary investments in short-term investment funds are valued at cost, which approximates market value. Other The Plan presents in the Statement of Changes in Net Assets Available for Benefits the appreciation (depreciation) in the fair value of its investments which consists of the realized gains or losses and the unrealized appreciation (depreciation) on those investments. Such change as it relates to those investments held in the Master Trust is included as a component of the Net Change in Investment in Master Trust on the Statement of Changes in Net Assets. Also included in the Net Change in Investment in Master Trust are dividends and interest earned for the year and participant loan repayments. Purchases and sales of securities are reflected on a trade-date basis. Gains or losses on sales of securities are based on average cost. Dividend income is recorded on the ex-dividend date. Interest is recorded as earned. (3) FEDERAL INCOME TAXES: The IRS has made a determination that the Plan is a qualified plan under Section 401(a) of the Code. Therefore, the Trust established under the Plan is exempt from Federal income taxes under Section 501(a) of the Code. The IRS has determined and informed the Company by letter dated August 26, 2002 that the Plan is designed in accordance with applicable sections of the Code. The Plan has been amended since it was submitted for consideration. However, tax and ERISA counsel to the Company is of the opinion that the Plan continues to be a "qualified" plan under Section 401(a) of the Code, and that the Plan contains a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code. Therefore, no provision for income tax has been included in the Plan's financial statements. Under present Federal income tax laws and regulations, and as long as the Plan is approved as a qualified plan, participants are not subject to Federal income taxes as a result of their participation in the Plan until their accounts are withdrawn or distributed to them. (4) INVESTMENT PROGRAMS: Mellon Bank N.A. is Trustee for all of the investment funds. Participants may direct the investment of their accounts in multiples of 1%, in any one or more of the Investment funds selected by the Committee. During 2004, eight Fidelity funds and seven Vanguard funds were offered in addition to the Company Stock Fund. Effective April 1, 2005, the investment options were revised to provide participants with the ability to create more diversified portfolios while eliminating duplicate options. Six of the funds were replaced. As of December 31, 2005, the investment offering includes eight Vanguard funds, three Fidelity funds and four other funds in addition to the H. J. Heinz Company Stock Fund. See Note 7. In addition, the Plan holds a temporary investment fund sponsored by Mellon Bank, N.A. for liquidity. (5) FORFEITURES: Company contributions which have been credited to participants' accounts and which have not vested are forfeited upon termination of employment. These forfeitures are credited against subsequent Company contributions. Forfeitures were $94,116 and $197,461 for the years ended December 31, 2005 and 2004, respectively. 9 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) (6) NONPARTICIPANT-DIRECTED INVESTMENTS: Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed investments is as follows:
December 31, December 31, 2005 2004 ------------ ------------ Net Assets: Investment in Master Trust - H.J. Heinz Company common stock $ 565,372 $ 311,413
Year Ended December 31, 2005 ----------------- Employer contributions $ 290,408 Dividends 18,783 Net depreciation (42,091) Administrative expenses (729) Transferred to participant-directed investments (12,412) ----------- Change in Net Assets $ 253,959 ===========
10 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) (7) MASTER TRUST: The Company has a Master Trust arrangement with the Trustee. The Trustee maintains separate accounts to record the pro rata share of each participating Plan, reflecting contributions received on behalf of the Plan, benefit payments or other expense allocable to the Plan and its pro rata share of collected or accrued income, gain or loss, general expenses and other transactions allocable to the Investment Funds or the Trust as a whole. The following tables present the Master Trust information for the Plan.
December 31, 2005 ----------------------------------------------------------------------------------------------- Investment Income Net SAVER Plan Fair Value of Change in Percentage of Investment of The Fair Interest in the Master Trust Dividends Interest Value* Master Trust ------------ ----------- ---------- ------------ --------------- H.J. Heinz Co. ESOP Stock Fund $ 80,840,403 $ 3,048,676 -- $(10,217,868) -- H.J. Heinz Co. Stock Fund 10,032,990 333,311 -- (1,182,282) 100.0% Managed Income Portfolio 24,675,251 884,881 -- 884,881 2.48% Magellan Fund -- -- -- (955,236) -- Retirement Gov't Money Market 73,670,827 2,157,317 -- 2,157,317 29.04% Overseas Fund -- -- -- (178,022) -- Equity-Income Fund -- 269,393 -- (479,975) -- Puritan Fund -- -- -- (309,927) -- Intermediate Bond Fund 15,749,423 605,665 -- 267,745 7.83% OTC Portfolio -- -- -- (785,126) -- Fixed Income Securities Fund 17,342,147 923,527 -- 815,225 8.48% Wellington Fund 36,264,961 2,081,473 -- 2,582,099 6.69% Windsor II Fund 48,741,834 2,407,014 -- 3,249,328 5.73% Institutional Index Fund 51,326,962 839,608 -- 3,145,087 7.89% U.S. Growth Fund -- -- -- (544,900) -- Explorer Fund 15,982,821 1,286,912 -- 1,451,077 4.74% International Growth Fund 21,451,155 710,960 -- 3,010,375 3.73% Lord Abbett Small Cap Value 7,282,749 642,679 -- 704,019 6.09% Small Cap Index Fund 2,170,995 22,435 -- 121,818 5.15% Harbor International Fund 5,020,696 215,224 -- 691,759 5.99% Development Markets Index Fund 2,153,955 45,020 -- 219,145 8.30% Oppenheimer Developing 14,290,641 560,314 -- 2,715,569 8.60% Growth Fund of America 25,272,416 400,345 -- 3,481,467 6.77% ------------ ----------- ---------- ------------ Total Master Trust $452,270,226 $17,434,754 $ -- $ 10,843,575 10.95% ============ =========== ========== ============
* Includes transfers between funds. 11 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) (7) MASTER TRUST (CONTINUED):
December 31, 2004 ----------------------------------------------------------------------------------------------- Investment Income Net SAVER Plan Fair Value of Change in Percentage of Investment of The Fair Interest in the Master Trust Dividends Interest Value* Master Trust ------------ ----------- ---------- ------------ --------------- H.J. Heinz Co. ESOP Stock Fund $110,909,580 $ 3,232,544 $ 28,728 $ 4,438,009 -- H.J. Heinz Co. Stock Fund $ 10,563,067 $ 363,400 $ 1,834 461,464 100% Managed Income Portfolio 21,972,515 874,885 -- 874,885 2.22% Magellan Fund 37,247,199 447,421 -- 2,743,669 8.70% Retirement Gov't Money Market 76,188,407 740,925 -- 740,925 5.24% Overseas Fund 11,255,200 95,095 -- 1,320,277 4.22% Equity-Income Fund 26,079,426 1,196,892 -- 2,361,847 5.88% Puritan Fund 22,835,696 1,344,685 -- 2,003,786 6.62% Intermediate Bond Fund 14,981,747 785,505 -- 582,303 6.70% OTC Portfolio 13,101,895 153,888 -- 7,653,548 6.07% Fixed Income Securities Fund 15,678,496 990,584 -- 1,299,542 7.29% Wellington Fund 13,839,961 759,567 -- 1,300,306 5.19% Windsor II Fund 21,644,963 389,039 -- 3,122,873 4.63% Institutional Index Fund 23,944,332 445,378 -- 2,495,016 3.57% U.S. Growth Fund 10,112,548 50,478 -- 755,079 7.68% Explorer Fund 18,656,911 18,428 -- 1,942,177 4.65% International Growth Fund 9,322,341 168,103 -- 1,277,820 2.20% Del Monte Stock Fund -- -- 9,079 (2,625,477) -- ------------ ----------- ---------- ------------ Total Master Trust $458,334,284 $12,056,817 $ 39,641 $ 32,748,049 9.69% ============ =========== ========== ============
* Includes transfers between funds. 12 H. J. HEINZ COMPANY SAVER PLAN Notes to Financial Statements (Continued) (8) PLAN AMENDMENTS, ACQUISITIONS AND OTHER: During 2005, the Board approved the merger of the participant balances of salaried employees of the H. J. Heinz Company Foodservice 401(k) Plan into the Plan. The transfer occurred in stages during 2005 and approximately $1.9 million of assets was transferred into the Plan, including participant loans. (9) RELATED PARTY TRANSACTIONS: The temporary investment fund is managed by Mellon Bank N.A., the trustee of the Plan as of December 31, 2005 and for the year then ended. Therefore, these transitions qualify as party-in-interest transactions. Certain Plan investments are publicly traded common stock of H.J. Heinz Company, the Plan Sponsor. The Plan purchased 97,748 shares of Company stock at a cost of $3,571,251 and sold 78,221 shares of Company stock for $2,814,443 during Plan year 2004. The Plan received $333,311 in dividends during the 2005 Plan year. (10) RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2005 and 2004 to Form 5500:
2005 2004 Net assets available for benefits per the financial statements $50,469,125 $45,199,977 Amounts allocated to withdrawing participants --- (217,193) ----------- ----------- Net assets available for benefits per the Form 5500 $50,469,125 $44,982,784 ----------- -----------
The following is a reconciliation of benefits paid to participants per the financial statements for the year ended December 31, 2005, to Form 5500:
2005 Benefits paid to participants per the financial statements $ 5,103,188 Less: Amounts allocated to withdrawing participants at December 31, 2004 (217,193) ----------- Benefits paid to participants per Form 5500 $ 4,885,995 -----------
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, 2004, but not yet paid as of that date. 13 H. J. HEINZ COMPANY EMPLOYEES SAVER PLAN EIN: 25 - 0542520 PLAN 011 SCHEDULE H, LINE 4i ---- SCHEDULE OF ASSETS (HELD AT END OF YEAR) December 31, 2005
(c) Description of investment including (b) Identity of issue, borrower, maturity date, rate of interest, (e) Current (a) lessor, or similar party collateral, par or maturity value (d) Cost Value --- -------------------------------- ---------------------------------------- -------- ----------- * H. J. Heinz Company Master Trust -- $49,535,538 * Mellon Bank N.A. EB Temporary Investment Fund $208,773 208,773 * Participant Loans Participant Loans -- 32,495 Interest Rates, 5.25% - 11.0%
* Denotes a party-in-interest, for which a statutory exemption exists. 14 EXHIBIT INDEX Exhibits required to be filed by Item 601 of Regulation S-K are listed below and are filed as part hereof. Documents not designated as being incorporated herein by reference are filed herewith. The paragraph number corresponds to the exhibit number designated in Item 601 of Regulation S-K. 23. The consent of Independent Registered Public Accounting Firm dated June 28, 2006 is filed herein. 15 EX-23 2 l19614aexv23.txt EX-23 EXHIBIT 23 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (File No. 33-32563) of H. J. Heinz Company of our report dated June 28, 2006 relating to the financial statements and supplemental schedule of the H. J. Heinz Company SAVER Plan, which appears in this Form 11-K. /s/ PricewaterhouseCoopers LLP Pittsburgh, Pennsylvania June 28, 2006 16 -----END PRIVACY-ENHANCED MESSAGE-----