-----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, U47Gsp1PrE6xoW79BGbZyEfBbHyJFG8JGVTgyPihFxmfhBDukXKcoTPhQUIgVPss /B92wTxzyfrHVHOKVdajgQ== 0000081061-01-500013.txt : 20010702 0000081061-01-500013.hdr.sgml : 20010702 ACCESSION NUMBER: 0000081061-01-500013 CONFORMED SUBMISSION TYPE: 11-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20001231 FILED AS OF DATE: 20010629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIX SUPER MARKETS INC CENTRAL INDEX KEY: 0000081061 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 590324412 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K/A SEC ACT: SEC FILE NUMBER: 000-00981 FILM NUMBER: 1671047 BUSINESS ADDRESS: STREET 1: PO BOX 407 CITY: LAKELAND STATE: FL ZIP: 33802 BUSINESS PHONE: 8636881188 MAIL ADDRESS: STREET 1: PO BOX 407 CITY: LAKELAND STATE: FL ZIP: 33802 11-K/A 1 k11f2000.txt FORM 11-K/A PUBLIX SUPER MARKETS, INC. 401(K) SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K/A ANNUAL REPORT (Mark One) [x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________. Commission file number 0-981 ----- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: PUBLIX SUPER MARKETS, INC. 1936 GEORGE JENKINS BOULEVARD LAKELAND, FLORIDA 33815 PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Index to Financial Statements and Schedules Independent Auditors' Report Financial Statements: Statement of Net Assets Available for Plan Benefits, with Fund Information - December 31, 2000 Statement of Net Assets Available for Plan Benefits, with Fund Information - December 31, 1999 Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information - Year ended December 31, 2000 Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information - Year ended December 31, 1999 Notes to Financial Statements Schedules: 1 Schedule of Assets Held for Investment Purposes - December 31, 2000 2 Schedule of Reportable Transactions - Year ended December 31, 2000 INDEPENDENT AUDITORS' REPORT ---------------------------- To the Plan Administrator of the Publix Super Markets, Inc. 401(k) SMART Plan: We have audited the accompanying statements of net assets available for plan benefits, with fund information, of the Publix Super Markets, Inc. 401(k) SMART Plan (the "Plan") as of December 31, 2000 and 1999, and the related statements of changes in net assets available for plan benefits, with fund information, 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 auditing standards generally accepted in the United States of America. 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 net assets available for plan benefits of the Plan as of December 31, 2000 and 1999, and the changes in net assets available for plan benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are 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. The supplemental schedules are the responsibility of the Plan's management. The fund information in the statements of net assets available for plan benefits and the statements of changes in net assets available for plan benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and changes in net assets available for plan benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. KPMG LLP Tampa, Florida June 8, 2001
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Statement of Net Assets Available for Plan Benefits, with Fund Information December 31, 2000 Asset Allocation ------------------------------------------ Aggressive Participant International Growth Assets Loans Fund Long-Term Medium-Term Short-Term Fund ------ ----- ---- --------- ----------- ---------- ---- Investments $23,230,724 2,534,318 1,362,380 4,176,867 554,627 46,032,092 Employer Contribution Receivable --- --- --- --- --- --- ----------- --------- --------- --------- ------- ---------- Total Assets $23,230,724 2,534,318 1,362,380 4,176,867 554,627 46,032,092 =========== ========= ========= ========= ======= ========== Net Assets Available for Plan Benefits: Active Participants $23,230,724 2,322,088 1,244,604 3,802,185 516,900 41,188,604 Non-active Participants --- 212,230 117,776 374,682 37,727 4,843,488 ----------- --------- --------- --------- ------- ---------- $23,230,724 2,534,318 1,362,380 4,176,867 554,627 46,032,092 =========== ========= ========= ========= ======= ========== Publix Equity Fixed Stock Index Income Assets Fund Fund Fund Total ------ ---- ---- ---- ----- Investments $244,861,436 15,909,627 10,225,007 348,887,078 Employer Contribution Receivable 13,818,591 --- --- 13,818,591 ------------ ---------- ---------- ----------- Total Assets 258,680,027 15,909,627 10,225,007 362,705,669 ============ ========== ========== =========== Net Assets Available for Plan Benefits: Active Participants 231,556,715 14,533,598 9,371,135 327,766,553 Non-active Participants 27,123,312 1,376,029 853,872 34,939,116 ------------ ---------- ---------- ----------- $258,680,027 15,909,627 10,225,007 362,705,669 ============ ========== ========== ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Statement of Net Assets Available for Plan Benefits, with Fund Information December 31, 1999 Asset Allocation ---------------------------------------- Aggressive Participant International Growth Assets Loans Fund Long-Term Medium-Term Short-Term Fund ------ ----- ---- --------- ----------- ---------- ---- Investments $17,902,223 1,362,273 406,660 3,260,486 148,035 36,578,967 Employer Contribution Receivable --- --- --- --- --- --- ----------- --------- ------- --------- ------- ---------- Total Assets $17,902,223 1,362,273 406,660 3,260,486 148,035 36,578,967 =========== ========= ======= ========= ======= ========== Net Assets Available for Plan Benefits: Active Participants $17,902,223 1,161,436 353,911 2,873,015 137,256 32,359,182 Non-active Participants --- 200,837 52,749 387,471 10,779 4,219,785 ----------- --------- ------- --------- ------- ---------- $17,902,223 1,362,273 406,660 3,260,486 148,035 36,578,967 =========== ========= ======= ========= ======= ========== Publix Equity Fixed Stock Index Income Assets Fund Fund Fund Total ------ ---- ---- ---- ----- Investments $203,221,170 13,904,993 7,265,770 284,050,577 Employer Contribution Receivable 12,783,088 --- --- 12,783,088 ------------ ---------- --------- ----------- Total Assets 216,004,258 13,904,993 7,265,770 296,833,665 ============ ========== ========= =========== Net Assets Available for Plan Benefits: Active Participants 194,812,943 12,387,780 6,463,179 268,450,925 Non-active Participants 21,191,315 1,517,213 802,591 28,382,740 ------------ ---------- --------- ----------- $216,004,258 13,904,993 7,265,770 296,833,665 ============ ========== ========= ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information Year ended December 31, 2000 Asset Allocation Fund --------------------------------------------- Aggressive Participant International Growth Loans Fund Long-Term Medium-Term Short-Term Fund ----- ---- --------- ----------- ---------- ---- Contributions: Employee $ --- 962,474 618,027 1,099,706 230,889 10,084,015 Employer - Stock --- --- --- --- --- --- ----------- --------- --------- --------- ------- ---------- Total Contributions --- 962,474 618,027 1,099,706 230,889 10,084,015 ----------- --------- --------- --------- ------- ---------- Investment Income (Loss): Net Appreciation (Depreciation) --- (116,856) (33,480) 16,145 13,425 (8,427,167) Dividends --- 103,166 --- --- --- 5,490,935 Interest --- 224 14,354 48,285 5,151 2,981 ----------- --------- --------- --------- ------- ---------- Total Investment Income (Loss) --- (13,466) (19,126) 64,430 18,576 (2,933,251) ----------- --------- --------- --------- ------- ---------- Participant Loans 5,328,501 (33,559) (19,620) (85,474) (5,911) (1,218,995) ----------- --------- --------- --------- ------- ---------- Total Increase in Plan Assets 5,328,501 915,449 579,281 1,078,662 243,554 5,931,769 ----------- --------- --------- --------- ------- ---------- Distributions to Participants --- (193,862) (54,918) (279,097) (18,631) (2,829,094) Interfund Transfers --- 450,458 431,357 116,816 181,669 6,350,450 ----------- --------- --------- --------- ------- ---------- Total Increase (Decrease) in Plan Assets --- 256,596 376,439 (162,281) 163,038 3,521,356 ----------- --------- --------- --------- ------- ---------- Net Increase in Plan Assets 5,328,501 1,172,045 955,720 916,381 406,592 9,453,125 Net Assets Available for Plan Benefits: Beginning of year 17,902,223 1,362,273 406,660 3,260,486 148,035 36,578,967 ----------- --------- --------- --------- ------- ---------- End of year $23,230,724 2,534,318 1,362,380 4,176,867 554,627 46,032,092 =========== ========= ========= ========= ======= ========== Publix Equity Fixed Stock Index Income Fund Fund Fund Total ---- ---- ---- ----- Contributions: Employee $ 40,507,976 4,018,473 2,562,422 60,083,982 Employer - Stock 13,818,591 --- --- 13,818,591 ------------ ---------- ---------- ----------- Total Contributions 54,326,567 4,018,473 2,562,422 73,902,573 ------------ ---------- ---------- ----------- Investment Income (Loss): Net Appreciation (Depreciation) 14,757,589 (1,421,184) --- 4,788,472 Dividends 1,271,717 --- --- 6,865,818 Interest 388,525 78,873 572,056 1,110,449 ------------ ---------- ---------- ----------- Total Investment Income (Loss) 16,417,831 (1,342,311) 572,056 12,764,739 ------------ ---------- ---------- ----------- Participant Loans (4,374,829) (340,067) (345,806) (1,095,760) ------------ ---------- ---------- ----------- Total Increase in Plan Assets 66,369,569 2,336,095 2,788,672 85,571,552 ------------ ---------- ---------- ----------- Distributions to Participants (14,470,055) (1,018,257) (835,634) (19,699,548) Interfund Transfers (9,223,745) 686,796 1,006,199 --- ------------ ---------- ---------- ----------- Total Increase (Decrease) in Plan Assets (23,693,800) (331,461) 170,565 (19,699,548) ------------ ---------- ---------- ----------- Net Increase in Plan Assets 42,675,769 2,004,634 2,959,237 65,872,004 Net Assets Available for Plan Benefits: Beginning of year 216,004,258 13,904,993 7,265,770 296,833,665 ------------ ---------- ---------- ----------- End of year $258,680,027 15,909,627 10,225,007 362,705,669 ============ ========== ========== ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Statement of Changes in Net Assets Available for Plan Benefits, with Fund Information Year ended December 31, 1999 Asset Allocation Fund --------------------------------------------- Aggressive Participant International Growth Loans Fund Long-Term Medium-Term Short-Term Fund ----- ---- --------- ----------- ---------- ---- Contributions: Employee $ --- 284,165 256,500 983,570 100,834 8,009,150 Employer - Stock --- --- --- --- --- --- ----------- --------- ------- --------- ------- ---------- Total Contributions --- 284,165 256,500 983,570 100,834 8,009,150 ----------- --------- ------- --------- ------- ---------- Investment Income (Loss): Net Appreciation (Depreciation) --- 166,185 35,884 306,614 4,013 1,408,476 Dividends --- 33,756 --- --- --- 5,361,831 Interest --- --- --- --- --- --- ----------- --------- ------- --------- ------- ---------- Total Investment Income (Loss) --- 199,941 35,884 306,614 4,013 6,770,307 ----------- --------- ------- --------- ------- ---------- Participant Loans 8,296,055 (10,182) 1,000 (100,985) (1,617) (948,209) ----------- --------- ------- --------- ------- ---------- Total Increase in Plan Assets 8,296,055 473,924 293,384 1,189,199 103,230 13,831,248 ----------- --------- ------- --------- ------- ---------- Distributions to Participants --- (23,909) (16,564) (170,784) (7,553) (1,592,838) Interfund Transfers --- 805,538 61,653 (244,948) 34,250 262,437 ----------- --------- ------- --------- ------- ---------- Total Increase (Decrease) in Plan Assets --- 781,629 45,089 (415,732) 26,697 (1,330,401) ----------- --------- ------- --------- ------- ---------- Net Increase in Plan Assets 8,296,055 1,255,553 338,473 773,467 129,927 12,500,847 Net Assets Available for Plan Benefits: Beginning of year 9,606,168 106,720 68,187 2,487,019 18,108 24,078,120 ----------- --------- ------- --------- ------- ---------- End of year $17,902,223 1,362,273 406,660 3,260,486 148,035 36,578,967 =========== ========= ======= ========= ======= ========== Publix Equity Fixed Stock Index Income Fund Fund Fund Total ---- ---- ---- ----- Contributions: Employee $ 39,586,898 3,434,932 2,140,115 54,796,164 Employer - Stock 12,783,088 --- --- 12,783,088 ------------ ---------- --------- ----------- Total Contributions 52,369,986 3,434,932 2,140,115 67,579,252 ------------ ---------- --------- ----------- Investment Income (Loss): Net Appreciation (Depreciation) (7,375,255) 2,195,781 --- (3,258,302) Dividends 928,543 --- --- 6,324,130 Interest 270,707 --- 340,920 611,627 ------------ ---------- --------- ----------- Total Investment Income (Loss) (6,176,005) 2,195,781 340,920 3,677,455 ------------ ---------- --------- ----------- Participant Loans (6,967,288) (445,586) (236,364) (413,176) ------------ ---------- --------- ----------- Total Increase in Plan Assets 39,226,693 5,185,127 2,244,671 70,843,531 ------------ ---------- --------- ----------- Distributions to Participants (10,971,403) (635,970) (459,107) (13,878,128) Interfund Transfers (1,468,070) (339,381) 888,521 --- ------------ ---------- --------- ----------- Total Increase (Decrease) in Plan Assets (12,439,473) (975,351) 429,414 (13,878,128) ------------ ---------- --------- ----------- Net Increase in Plan Assets 26,787,220 4,209,776 2,674,085 56,965,403 Net Assets Available for Plan Benefits: Beginning of year 189,217,038 9,695,217 4,591,685 239,868,262 ------------ ---------- --------- ----------- End of year $216,004,258 13,904,993 7,265,770 296,833,665 ============ ========== ========= ===========
See accompanying notes to financial statements. PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 (1) Description of Plan and Summary of Accounting Policies ------------------------------------------------------ The following description of the Publix Super Markets, Inc. 401(k) SMART Plan (the "Plan") provides only general information. Participants should refer to the Plan document or the Summary Plan Description for specific Plan provisions. The Plan, which became effective January 1, 1995, is a voluntary defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Employees of Publix Super Markets, Inc. and its wholly owned subsidiary Publix Alabama, Inc. (the "Company" or "Publix") who have attained the age of 19 and have completed one year of credited service during which they are credited 1,000 or more hours are eligible to participate in the Plan. The Plan year is a calendar year. (a) Contributions ------------- During Plan years 2000 and 1999, eligible employees could contribute up to 8% of their annual eligible compensation, subject to the maximum contribution limits established by Federal law. The Company may make a discretionary annual matching contribution to eligible participants of the Plan as determined by the Company's Board of Directors. During 2000 and 1999, the Company's Board of Directors approved a match of 50% of eligible contributions up to 3% of eligible wages, not to exceed a maximum match of $750 per employee. The match, which is determined as of the last day of the Plan year and paid in the subsequent Plan year, was in the form of common stock of Publix Super Markets, Inc. (b) Participant Accounts -------------------- Two separate accounts are maintained for each participant, a Savings Contribution Account and a Matching Contribution Account (the "Accounts"). Plan earnings are allocated and credited to the Accounts as of each valuation date. Each participant's share of earnings is determined by the Plan Administrator on a weighted average basis, so that each participant receives a pro-rata share. Forfeitures of non-vested Company contributions by separated or former participants are used to reduce future Company matching contributions. Forfeitures, and earnings thereon, totaled $348,131 and $399,494 for the years ended December 31, 2000 and 1999, respectively. (c) Vesting ------- Participants are immediately vested in their contributions and earnings thereon. Company matching contributions and earnings thereon are 100% vested upon completing five years of credited service, reaching age 60, total disability or death. Matching contributions cannot be withdrawn or distributed until vested. (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 (d) Loans to Participants --------------------- All actively employed Plan participants with available account balances may apply for a loan from their Accounts. The minimum amount a participant may borrow is $1,000. The maximum amount that a participant may borrow is the lesser of: 1) 50% of the balances in the participant's Savings Contribution Account and vested Matching Contribution Account; or 2) $50,000 less the participant's highest outstanding loan balance during the previous twelve month period. However, the actual loan amount cannot exceed the balance in the participant's Savings Contribution Account. Participants may initiate one loan each year and may only have one outstanding loan at a time. All legal and administrative costs incurred as a result of a loan are paid by the participant. The interest rate is determined by the Primary Trustee as of the first day of each calendar quarter and represents the prime lending rate charged by the Primary Trustee. The interest rate on a loan is fixed for the term of the loan. A participant can choose repayment terms of up to five years. Repayment of principal and interest are made through after-tax payroll deductions each pay period. Repayment of principal and interest are credited to the participant's Savings Contribution Account and reinvested according to the participant's current investment elections. Upon separation of employment all unpaid principal and accrued interest on any loan outstanding is immediately due and payable. Participants may repay a loan in total at any time after the loan has been in effect for at least one year. (e) Termination of Plan ------------------- The Company expects to continue the Plan indefinitely, but is not contractually obligated to do so. The Company reserves the right to amend or discontinue the Plan at any time. If the Plan is ever terminated, participants will be fully vested in all amounts credited to their accounts. (f) Distribution of Benefits ------------------------ Upon reaching age 59 1/2, a participant who is actively employed by the Company may elect to withdraw all or a portion of his/her Savings Contribution Account and the vested portion of his/her Matching Contribution Account. The minimum withdrawal amount is $1,000 or the vested balance in the Accounts if less than $1,000. A participant who reaches age 70 1/2 may begin receiving a distribution of benefits on or before April 1st of the calendar year following the year in which the participant reaches age 70 1/2 or retires, whichever is later. -2- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 Upon separation of employment with the Company, participants may elect to receive full distribution of their Savings Contribution Account and their vested Matching Contribution Account balances as of the valuation date immediately preceding the date of distribution. If the value of the participant's vested Accounts is $5,000 or less, the participant will receive an automatic distribution from the Plan no later than 60 days after the end of the Plan year in which the participant separates from employment. If the value of the participant's Savings Contribution Account and vested Matching Contribution Account exceeds $5,000, the participant may elect to defer distribution. Payment of deferred distributions must be made to a participant or his/her beneficiary no later than 60 days after the end of the Plan year in which the participant reaches age 62. If the beneficiary is the participant's surviving spouse, such beneficiary may defer distribution until the participant would have reached age 70 1/2. (g) Basis of Accounting ------------------- The financial statements of the Plan are prepared under the accrual basis of accounting. (h) Investments ----------- The market value of Publix Super Markets, Inc. common stock is based upon an appraisal prepared by an independent appraiser. Guaranteed investment contracts are carried at contract value, which approximates market value. The market value of other investments is determined based upon quoted market prices. (i) Use of Estimates ---------------- The preparation of financial statements in conformity with generally accepted accounting principles and ERISA requires the Plan to make estimates and assumptions that affect the reported amounts of net assets available for plan benefits and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of changes in net assets available for plan benefits during the reporting period. Actual results could differ from those estimates. (2) Administration of the Plan -------------------------- The Primary Trustee for the Plan, Chase Manhattan Bank, N.A., is responsible for maintaining custody of the investment funds and other assets in which the employee contributions are invested, excluding Publix stock. Tina P. Johnson is the Trustee responsible for maintaining custody of the Publix stock component of the Publix Stock Fund. Metropolitan Life Insurance Company serves as the third-party Plan Administrator. The Plan administration costs, excluding loan fees, are paid by Publix. -3- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 The Board of Directors approved Plan design changes to the Plan on December 12, 2000. Effective July 3, 2001, State Street Bank and Trust Company will replace Chase Manhattan Bank, N.A. as the Primary Trustee. The Trustee over Publix stock will remain Tina P. Johnson. Effective July 3, 2001, CitiStreet LLC will replace Metropolitan Life Insurance Company as the third-party Plan Administrator. The Plan administration costs, excluding loan fees, will continue to be paid by Publix. (3) Investments ----------- The Plan consists of the following investment options: (a) International Fund ------------------ This fund seeks long-term capital growth by investing in stocks and debt obligations of companies and governments located outside the United States. International investments contain additional risks not associated with U.S. domestic issues. The fund can be expected to experience wider variation in its value than the other funds described herein. The "Templeton Foreign Fund - Class A," a mutual fund, has been selected as the investment vehicle for the International Fund. This fund is generally diversified across approximately 40 countries and more than 30 different industries. This fund is designed for long-term investors who seek growth of capital and can tolerate the greater risks associated with investments in foreign securities. (b) Asset Allocation Fund --------------------- This fund is a growth and income fund which uses an asset allocation approach. The fund may consist of common and preferred stocks, governmental and corporate bonds, and other securities or investment opportunities designed to provide for both current income and capital appreciation. The fund can be expected to experience wider variation in its value than the Fixed Income Fund. Three MetLife/UAM TimeStyle Portfolios have been selected as the investment vehicles for the Asset Allocation Fund. These portfolios offer diversification by automatically blending risk across different types of investments. The assets in these portfolios are rebalanced periodically to ensure that the asset allocation is consistent over time. MetLife/UAM Long-Term TimeStyle Portfolio ----------------------------------------- This portfolio seeks to provide long-term growth of capital by utilizing an aggressive balanced approach. This portfolio is expected to be approximately 80% invested in equities, including exposure to international markets, and 20% invested in U.S. investment-grade bonds. This is a growth portfolio for use by aggressive investors. -4- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 MetLife/UAM Medium-Term TimeStyle Portfolio ------------------------------------------- This portfolio seeks to provide growth of capital and a moderate level of income by utilizing a moderate balanced approach. This portfolio is expected to be approximately 60% invested in equities, including exposure to international markets, and 40% invested in U.S. investment-grade bonds or short-term securities. This is a growth and income portfolio for use by moderate investors seeking growth of capital and some current income. MetLife/UAM Extended Short-Term TimeStyle Portfolio --------------------------------------------------- This portfolio seeks to provide capital preservation with moderate growth and current income utilizing a conservative balanced approach. This portfolio is expected to be approximately 40% invested in equities, including exposure to international markets, 45% invested in U.S. investment-grade bonds and 15% in short-term securities. This is an income-oriented portfolio for use by conservative investors seeking some growth of capital. (c) Aggressive Growth Fund ---------------------- This fund may consist of a portfolio invested primarily in common stocks and other securities or investment opportunities providing long-term capital growth. The fund can be expected to experience wider variation in its value than the other funds described herein. The "Fidelity Contrafund," a mutual fund, has been selected as the investment vehicle for the Aggressive Growth Fund. This fund invests in the securities of U.S. and international companies that are believed to be undervalued. (d) Publix Stock Fund ----------------- This fund contains participant directed and non-participant directed contributions (through the Company match) and includes two components: Publix stock and cash awaiting investment in Publix stock. Cash awaiting investment in Publix stock is invested in a short-term fixed income funding vehicle (MetLife guaranteed interest contract). The cash component of this fund includes employee contributions and loan repayments, transfers from other investments to purchase Publix stock, dividends earned on Publix stock and income earned on all of these deposits. The cash component of this fund is used to purchase Publix stock on specified purchase dates. The fund provides an opportunity for long-term capital growth. Because this fund is not diversified, it may experience wider variation in value than the other funds described herein. -5- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 (e) Equity Index Fund ----------------- This fund may consist of a portfolio invested primarily in common stocks which, in the aggregate, are intended to mirror the performance of the Standard & Poor's 500 Composite Stock Price Index (S&P 500 Index), and/or a portfolio of comparable investments. The fund is intended to provide for long-term growth of capital, and secondarily for long-term growth of income (or to provide a similar investment return). The fund may experience wider variation in its value than the other funds described herein. The "MetLife Stock Market Index Guarantee Account" has been selected as the investment vehicle for the Equity Index Fund. It consists of most of the stocks of the S&P 500 Index. (f) Fixed Income Fund ----------------- This fund may consist of a portfolio invested in commercial paper, U.S. government or Federal agency obligations, short-term corporate obligations, bank certificates of deposit, savings accounts and/or comparable investments designed to provide maximum protection of capital with a conservative rate of return. The "MetLife Guaranteed Fixed Income Account" has been selected as the investment vehicle for the Fixed Income Fund. It consists of one or more MetLife guaranteed interest contracts (GICs), which are intended to provide the advantage of intermediate-term rates with protection from potential fluctuations in interest rates during the guarantee period. The GIC rates as of December 31, 2000 and 1999, were 6.50% and 5.70%, respectively. As of December 31, 2000, investments in the Fidelity Contrafund, Publix Stock Fund and the MetLife Stock Market Index Guarantee Account each represented 5.0% or more of the Plan's net assets available for plan benefits. As of December 31, 1999, investments in the Fidelity Contrafund and the Publix Stock Fund each represented 5.0% or more of the Plan's net assets available for plan benefits. -6- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 (4) Reconciliation of Financial Statements to Form 5500 --------------------------------------------------- The following is a reconciliation of net assets available for plan benefits per the financial statements to the Form 5500:
December 31, ------------ 2000 1999 ---- ---- Net assets available for plan benefits per the financial statements $362,705,669 296,833,665 Amounts allocated to withdrawing participants (2,292,367) (1,373,082) Excess contributions (473,846) (298,958) ------------ ----------- Net assets available for plan benefits per the Form 5500 $359,939,456 295,161,625 ============ ===========
The following is a reconciliation of employee contributions and distributions to participants per the financial statements to the Form 5500:
Year ended December 31, 2000 ----------------- Employee Contributions ---------------------- Per the financial statements $60,083,982 Less: Excess contributions for year ended December 31, 2000 (473,846) Add: Excess contributions for year ended December 31, 1999 298,958 ----------- Per the Form 5500 $59,909,094 =========== Distributions to Participants ----------------------------- Per the financial statements $19,699,548 Add: Amounts allocated to withdrawing participants at December 31, 2000 2,292,367 Less: Amounts allocated to withdrawing participants at December 31, 1999 (1,373,082) ----------- Per the Form 5500 $20,618,833 ===========
(5) Federal Income Tax ------------------ The Plan's design has been determined to be a qualified plan as described in Sections 401(a) and 401(k) of the Internal Revenue Code (the "Code"), as amended. As such, the Plan is exempt from Federal income taxes under Section 501(a) of the Code. The Plan Administrator believes that the Plan has been and is currently being operated in compliance with applicable requirements of the Code and the Plan document. -7- (Continued) PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Notes to Financial Statements December 31, 2000 and 1999 (6) Accounting Standards -------------------- In June 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 133, "Accounting for Derivative Instruments and Hedging Activities," (SFAS 133) effective for fiscal years beginning after June 15, 1999. In June 1999, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 137, "Accounting for Derivative Instruments and Hedging Activities - Deferral of the Effective Date of FASB Statement No. 133" (SFAS 137) which deferred the effective date of adoption of SFAS 133 for one year. SFAS 133 requires that derivatives be carried at fair value and provides for hedge accounting when certain conditions are met. Pursuant to SFAS No. 137, the Plan is required to adopt SFAS No. 133 effective January 1, 2001. The Plan Administrator is currently evaluating the effect of adopting SFAS 133 on the Plan financial statements. -8-
Schedule 1 PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Schedule of Assets Held for Investment Purposes December 31, 2000 Fair Number of Market Name of Issuer and Title of Issue Shares Cost Value - --------------------------------- ------ ---- ----- Marketable: International Fund ------------------ Templeton Foreign Fund --- $ 2,520,202 2,534,318 Asset Allocation Fund --------------------- MetLife/UAM TimeStyle Portfolios: Long-Term TimeStyle Portfolio * --- 1,395,808 1,362,380 Medium-Term TimeStyle Portfolio * --- 3,939,150 4,176,867 Extended Short-Term TimeStyle Portfolio * --- 547,422 554,627 Aggressive Growth Fund ---------------------- Fidelity Contrafund --- 52,116,628 46,032,092 Equity Index Fund ----------------- MetLife Stock Market Index Guarantee Account * --- 15,399,652 15,909,627 Fixed Income Fund ----------------- MetLife Guaranteed Fixed Income Account * --- 9,653,066 10,225,007 Non-Marketable: Publix Stock Fund ----------------- Common Stock of Publix Super Markets, Inc. * 5,074,848 188,790,985 244,861,436 Participant Loans 23,230,724 23,230,724 ------------ ----------- $297,593,637 348,887,078 ============ =========== * Parties-in-interest
Schedule 2 PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Schedule of Reportable Transactions Year ended December 31, 2000 Purchase Selling Cost of Net Asset Price Price Asset Gain ----- ----- ----- ----- ---- Aggressive Growth Fund - ---------------------- Fidelity Contrafund $ 45,013,463 27,133,171 26,326,080 807,091 Fixed Income Fund - ----------------- MetLife Guaranteed Fixed Income Account * 20,611,175 18,223,879 18,223,879 --- Publix Stock Fund - ----------------- Common Stock of Publix Super Markets, Inc. * 92,317,726 65,416,301 50,041,441 15,374,860 MetLife guaranteed interest contract * 149,032,726 149,420,886 149,032,361 388,525 =========== =========== =========== ========== * Parties-in-interest
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Publix Super Markets, Inc. 401(k) SMART Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN Date: June 29, 2001 By: /s/Tina P. Johnson -------------------------- Tina P. Johnson Senior Vice President and Trustee of the 401(k) SMART Plan - Publix Stock Fund -----END PRIVACY-ENHANCED MESSAGE-----