11-K 1 0001.txt SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 ------------------------------ FORM 11-K (Mark One) X ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE ----- SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 1999 OR ----- TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________. Commission file number 1-9759 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES OF IMC-AGRICO MP, INC. REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: IMC GLOBAL INC. 2100 SANDERS ROAD, NORTHBROOK, ILLINOIS 60062 --------------------------------------------- Employer Identification #36-3888539 Plan #103 SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES (Together with Auditors' Report) DECEMBER 31, 1999 AND 1998 SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- TABLE OF CONTENTS ----------------- Page ----- Independent Auditors' Report 1 Financial Statements: Statements of Net Assets Available for Benefits as of December 31, 1999 and 1998 4 Statements of Changes in Net Assets Available for Benefits for the years ended December 31, 1999 and 1998 5 Notes to Financial Statements 6 Supplemental Schedules: Schedule of Assets Held for Investment Purposes as of December 31, 1999 15 Schedule of Loans or Fixed Income Obligations for the year ended December 31, 1999 16 Schedule of Reportable Transactions for the year ended December 31, 1999 17 Independent Auditors' Report Plan Administrator Salary Reduction Plan for Hourly Employees Represented by Local #35 International Chemical Workers Union At Florida Minerals Operations of IMC-Agrico MP, Inc. We have audited the accompanying statement of net assets available for benefits of the Salary Reduction Plan for Hourly Employees Represented by Local #35 International Chemical Workers Union at Florida Minerals Operations of IMC-Agrico MP, Inc. as of December 31, 1999, and the related statement of changes in net assets available for benefits for the year 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 audit. The financial statements of the Plan as of December 31, 1998, were audited by other auditors whose report dated May 7, 1999, expressed an unqualified opinion on those statements. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides 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 benefits of the Plan as of December 31, 1999, and the changes in net assets available for benefits for the year then ended in conformity with generally accepted accounting principles. Our audit was 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 as of December 31, 1999; and loans or fixed income obligations and reportable transactions for the year ended December 31, 1999, respectively, 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 -1- Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in the audit 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. /s/ Hill, Taylor LLC May 26 ,2000 -2- Report of Independent Auditors Plan Administrator Salary Reduction Plan for Hourly Employees of IMC-Agrico MP, Inc. Represented by Local #35 International Chemical Workers Union We have audited the accompanying statement of assets available for benefits of the Salary Reduction Plan for Hourly Employees of IMC-Agrico MP, Inc. Represented by Local #35 International Chemical Workers Union as of December 31, 1998 and the related statement of changes in assets available for benefits for the year 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 audit. We conducted our audit in accordance with auditing standards generally accepted in the United States. 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 audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for benefits of the Plan at December 31, 1998 and the changes in its assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States. /s/ Ernst & Young LLP Chicago, Illinois Ernst & Young LLP May 7, 1999 -3- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS ----------------------------------------------- DECEMBER 31, 1999 AND 1998 -------------------------- 1999 1998 ----------- ----------- ASSETS Cash $ 150 $ - Investments, at fair value: Master trust funds: Interest in IMC-Agrico Stock Fund 319,240 179,584 Interest in IMC-Agrico Fixed Income Fund 3,278,059 2,885,137 Mutual funds: Vanguard Wellington Fund, Inc. 2,079,098 2,103,949 Fidelity Equity-Income Fund, Inc. 1,419,913 1,209,195 Fidelity Magellan Fund, Inc. 619,175 337,870 Loans to participants 563,398 378,673 ----------- ----------- Total investments 8,279,033 7,094,408 ----------- ----------- Receivables: Participant contributions 18,293 19,552 Company contributions 1,247 2,591 ----------- ----------- Total receivables 19,540 22,143 ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $ 8,298,573 $ 7,116,551 =========== =========== The accompanying notes are an integral part of these financial statements. -4- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS --------------------------------- YEARS ENDED DECEMBER 31, 1999 AND 1998 -------------------------------------- 1999 1998 ----------- ------------ ADDITIONS Investment income: Interest and dividends $ 141,314 $ 117,274 Net realized and unrealized appreciation in fair value of investments 173,767 261,605 Income from master trust funds 117,028 167,135 ----------- ----------- Total investment income 432,109 546,014 ----------- ----------- Contributions: Participants 1,173,664 1,268,357 Company 65,262 43,239 ----------- ----------- Total contributions 1,238,926 1,311,596 ----------- ----------- Total additions 1,671,035 1,857,610 ----------- ----------- DEDUCTIONS Distributions 479,425 399,920 Transfers to other plans 9,588 49,288 ----------- ----------- Total deductions 489,013 449,208 ----------- ----------- NET INCREASE 1,182,022 1,408,402 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 7,116,551 5,708,149 ----------- ----------- End of year $ 8,298,573 $ 7,116,551 =========== =========== The accompanying notes are an integral part of these financial statements. -5- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- 1. Description of the Plan The following description of the Salary Reduction Plan for Hourly Employees Represented by Local #35 International Chemical Workers Union at Florida Minerals Operations of IMC- Agrico MP, Inc. (the 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 was established on January 1, 1988, and was amended and restated on January 1, 1998. Hourly employees of Florida Minerals Operations of IMC-Agrico MP, Inc. (the Company) who are represented by Local #35 International Chemical Workers Union are eligible to participate in the Plan immediately upon their date of hire. While the Company has not expressed any intent to terminate the Plan, it is free to do so at any time. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions The Plan is funded by contributions, known as salary reduction contributions, from participants in the form of payroll deductions of $5 to $150 per week. The Plan provides a qualified cash and deferred arrangement within the meaning of section 401(k) of the Internal Revenue Code (IRC); such contributions were subject to the calendar year maximum of $10,000 in 1999 and 1998. Beginning January 1, 1998, the Company contributes an amount equal to $.25 per $1.00 contributed weekly by participant up to the first $10.00 contributed weekly by participant. Participant Accounts Separate accounts are maintained for each participant. Each participant's account balance is adjusted for contributions, withdrawals, interest, dividends, and net realized and unrealized gains or losses on the last day of each month. Administrative Expenses Certain administrative expenses of the Plan are borne by the Company. -6- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 1. Description of the Plan (Continued) Investment Programs The Plan's investments are administered by Marshall & Ilsley Trust Company under a trust agreement dated January 1, 1996. Investment programs available to participants are as follows: Company Stock Fund - Assets are invested in shares of the IMC-Agrico Stock Fund, a pooled fund shared only by other IMC- Agrico MP, Inc. 401(k) plans, which invests in the common stock of IMC Global Inc. Fixed Income Fund - Assets are invested in shares of IMC- Agrico Fixed Income Fund, a pooled fund shared only by other IMC- Agrico MP, Inc. 401(k) plans as well as guaranteed investment contracts (GICs), the Marshall Money Market Fund, the LaSalle National Trust, N.A. Income Plus Fund and the M&I Stable Principal Fund. The December 31, 1999 holdings are described below: a. GIC with CDC Investment Management Corp. with a guaranteed interest rate of 7.5% through June 30, 2000. b. GIC with Rabobank Alternative with a guaranteed interest rate of 6.65% through March 15, 2001. c. GIC with Sunamerica Life Company with a guaranteed interest rate of 7.04% through May 29, 2002. d. GIC with Government Plus Synthetic with an open maturity and interest rate resets at January 1, 2000, April 1, 2000, July 1, 2000, and October 1, 2000. e. GIC with Ohio National with a guaranteed interest rate of 6.25% through July 16, 2003. f. GIC with Sunamerica Life Synthetic with a guaranteed interest rate of 6.05% through July 27, 2003. g. GIC with Connecticut General Life with a guaranteed interest rate 5.35% through October 30, 2003. -7- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 1. Description of the Plan (Continued) h. GIC with John Hancock with a guaranteed interest rate of 6.11% through March 31, 2004. i. GIC with Protective Life with a guaranteed interest rate of 6.25%, 1/2 due December 31, 2002, and remainder due June 30, 2004. j. Marshall Money Market Fund. k. The M&1 Stable Principal Fund is primarily invested in traditional and synthetic investment contracts, money market securities, and registered first-tier money market mutual funds. Balanced Fund - Assets are invested in shares of the Vanguard Wellington Fund, Inc., a mutual fund which invests in a diversified portfolio of 60%-70% common stocks and 30%-40% bonds. Equity Fund - Assets are invested in shares of the Fidelity Equity-Income Fund, Inc., a mutual fund which invests at least 65% of its assets in income-producing equity securities. The balance of the portfolio is invested in all types of domestic and foreign instruments, including bonds. Growth Fund - Assets are invested in shares of the Fidelity Magellan Fund, Inc., a mutual fund which invests in common stock and securities of domestic, foreign, and multinational issuers. Loan Fund - Loans made to participants as described below. Participants elect their desired investment program upon joining the Plan. Participants may elect to change the investment direction of their existing account balances and their future contributions daily. Vesting Participants are immediately vested in their accounts. -8- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 1. Description of the Plan (Continued) Withdrawals Participants may withdraw their interest in the Plan upon termination of employment. Under certain conditions of financial hardship, participants may withdraw funds, subject to prior approval of the Employee Benefits Committee, but their participation in the Plan will be suspended for at least one year. Full withdrawals are available after age 59 1/2 or in the event of total and permanent disability. Subject to limitations specified in the Plan, certain withdrawals of funds transferred from other qualified benefits plans can be made by participants without penalty. Deferred Distributions Participants who terminate their employment and have an account balance in excess of $5,000 may elect (at any time prior to age 65) to defer receipt of distribution until no later than their 70th birthday. Loans to Participants Participants in the Plan may be granted loans subject to certain terms and maximum dollar or Plan account balance limits, as defined by the Plan. The amount of any such loan is borrowed from the account of the participant to whom the loan was made, and such account does not share in the allocation of income, gains, and losses of the investment funds to the extent of the outstanding balance of such loan. Principal repayments, which are over one to five years for general purpose loans and over one to fifteen years for residential loans, and related interest income are credited to the borrowing participant's account. Loan payments are made by weekly payroll deductions. Each loan bears interest at the prevailing rate for loans of similar risk, date of maturity, and date of grant. 2. Summary of Significant Accounting Policies Investment Valuation All investments with the exception of guaranteed investment contracts are carried at fair value. Fair value for shares of master trust funds, mutual funds, the LaSalle National -9- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 2. Summary of Significant Accounting Policies (Continued) Trust, N.A. Income Plus Fund, and the M&I Stable Principal Fund is the net asset value of those shares, as determined by the respective funds. Loans to participants are valued at cost which approximates fair value. Guaranteed investment contracts are carried at contract value. Income Recognition Purchases and sales of securities are accounted for on the trade date (date the order to buy or sell is executed). Dividend income is recorded on the ex-dividend date. Interest from investments is recorded as earned on an accrual basis. Contributions Participant contributions are recorded each pay period as withheld by the Company. Contributions by the Company are made monthly based on the minimum contribution required by the Plan. Participant Withdrawals Withdrawals are recorded when payments are made to participants. Withdrawals requested but not paid are presented in Department of Labor Form 5500 (Annual Return/Report of Employee Benefit Plan) as liabilities. There were no unpaid withdrawals at December 31, 1999 and 1998. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires the Plan administrator to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. New Accounting Pronouncement Certain amounts in the Plan's 1998 financial statements have been reclassified to conform to the 1999 financial statement presentation as a result of adopting SOP 99-3, Accounting for and Reporting of Certain Defined Contribution Plan Investments and other Disclosures Matters, in 1999. -10- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 3. Investment in Master Trust Assets of the Company Stock Fund and the Fixed Income Fund are invested in shares of IMC-Agrico MP, Inc. pooled funds shared by other IMC-Agrico MP, Inc. 401(k) plans. The Plan held a 3.6% and 10.4% interest, respectively, in the IMC-Agrico Stock Fund and the IMC-Agrico Fixed Income Fund at December 31, 1999 (2.1% and 10.1%, respectively, at December 31, 1998). The equitable shares in the pooled funds of a participating plan are proportionate to the fair market value of the assets allocable to such participating plan. The assets of the pooled funds as of December 31, 1999, were as follows: IMC-Agrico IMC-Agrico Fixed Stock Fund Income Fund ---------- ------------ IMC Global Inc. common stock $ 8,625,974 $ - M&I Stable Principal Fund - 14,348,030 Guaranteed Investment Contracts: CDC Investment Management Corp. - 1,500,000 Rabobank Alternative - 829,073 Sunamerica Life Company - 3,579,144 Government Plus Synthetic - 2,740,361 Ohio National - 1,638,848 Sunamerica Life Synthetic - 1,310,878 Connecticut General Life - 1,600,177 John Hancock - 1,568,544 Protective Life - 2,078,918 Marshall Money Market Fund 262,964 612,159 Accrued interest and dividends 2,074 54,885 ----------- ------------ Net Assets $ 8,891,012 $ 31,861,017 =========== ============ -11- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 3. Investment in Master Trust (Continued) The assets of the pooled funds as of December 31, 1998, were as follows: IMC-Agrico IMC-Agrico Fixed Stock Fund Income Fund IMC Global Inc. common stock $ 8,405,762 $ - M&I Stable Principal Fund - 13,729,913 Guaranteed Investment Contracts: CDC Investment Management Corp. - 1,500,000 Rabobank Alternative - 938,039 Sunamerica Life Company - 3,343,745 Government Plus Synthetic - 2,586,737 Ohio National - 1,542,445 Sunamerica Life Synthetic - 1,500,757 Connecticut General Life - 1,519,315 General American Synthetic - 1,517,803 Marshall Money Market Fund 104,275 145,405 Pending transactions 89,751 - Accrued interest and dividends 1,699 72,410 ----------- ------------ Net Assets $ 8,601,487 $ 28,396,569 =========== ============ -12- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ------------------------------ (Continued) 3. Investment in Master Trust (Continued) Changes in the pooled balances for the year ended December 31, 1999, were summarized as follows: IMC-Agrico IMC-Agrico Fixed Stock Fund Income Fund ------------- -------------- Additions Interest and dividend income $ 177,356 $ 1,680,709 Net realized and unrealized depreciation in fair value of investments (1,855,870) - Contributions and transfers from other plans 37,074,481 45,454,721 ------------ ------------- 35,395,967 47,135,430 ------------ ------------- Deductions Benefits paid 35,106,442 43,670,982 ------------ ------------- Net increase in assets 289,525 3,464,448 Net assets, beginning of year 8,601,487 28,396,569 ------------ ------------- Net assets, end of year $ 8,891,012 $ 31,861,017 =========== ============= Changes in the pooled balances for the year ended December 31, 1998, were summarized as follows: IMC-Agrico IMC-Agrico Fixed Stock Fund Income Fund ------------ ------------- Additions Interest and dividend income $ 97,003 $ 1,680,792 Net realized and unrealized depreciation in fair value of investments (2,297,412) - Contributions and transfers from other plans 19,496,739 24,287,771 ------------ ------------- 17,296,330 25,968,563 ------------ ------------- Deductions Benefits paid 14,679,071 22,707,640 Investment expenses 66,363 31,850 ------------ ------------- 14,745,434 22,739,490 ------------ ------------- Net increase in assets 2,550,896 3,229,073 Net assets, beginning of year 6,050,591 25,167,496 ------------ ------------- Net assets, end of year $ 8,601,487 $ 28,396,569 ============ ============ -13- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------- NOTES TO FINANCIAL STATEMENTS ----------------------------- (Continued) 4. Significant Investments Investments (all are participant-directed) that represent 5% or more of assets available for benefits at December 31, 1999 and 1998, were as follows: December 31 1999 1998 ----------- ----------- Vanguard Wellington Fund, Inc. $ 2,079,098 $ 2,103,949 Fidelity Equity-Income Fund, Inc. 1,419,913 1,209,195 Fidelity Magellan Fund, Inc. 619,175 337,870 Loans to participants 563,398 378,673 5. Federal Income Tax Status The Internal Revenue Service ruled on September 7, 1995, that the Plan qualified under section 401(a) of the IRC and, therefore, the related trust is not subject to tax under present income tax law. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. -14- Supplemental Schedules SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ------------------------------------------------------------------------------------------ SCHEDULE H, PART IV, ITEM 4(i) ------------------------------ SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES ----------------------------------------------- AS OF DECEMBER 31, 1999 ----------------------- Employer Identification Number: 36-3888539 Plan Number: 103
Number of Current Identity of Issuer Description Shares Cost Value ------------------------------------- -------------------------------- -------- ---------- ---------- Marshall and Ilsley Trust Company* Vanguard Wellington Fund, Inc. 74,360 $2,098,488 $2,079,098 Fidelity Equity-Income Fund, Inc. 26,550 1,428,382 1,419,913 Fidelity Magellan Fund, Inc. 4,532 551,836 619,175 Loans to participants (7.00% - 10.75%) - 563,398 563,398 ---------- ---------- $4,642,104 $4,681,584 ========== ========== *Indicates party-in-interest to the Plan.
-15- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------------------------------- SCHEDULE G, PART I ------------------- SCHEDULE OF LOANS OR FIXED INCOME OBLIGATIONS --------------------------------------------- YEAR ENDED DECEMBER 31, 1999 ---------------------------- Employer Identification Number: 36-3888539 Plan number: 103 Principal and Original Interest Paid Social Security Loan During the Loan Maturity Default Interest Collateral Number Amount Year Issue Date Date Date Rate Type Value ------------------- ------- ------------ ----------- -------- -------- ------- ------------------ ------- ###-##-#### $ 1,000 $ 144 1/14/99 1/8/04 9/28/99 7.75% Participant account $ 3,771 ###-##-#### 11,400 1,674 1/29/99 1/16/03 9/28/99 7.75% Participant account 20,291 ###-##-#### 3,000 - 6/18/98 6/12/03 8/27/99 8.50% Participant account 20,351 ###-##-#### 6,000 - 2/24/99 2/12/04 8/27/99 7.75% Participant account 13,169 ###-##-#### 900 241 7/3/97 7/1/99 2/19/99 8.50% Participant account 10,352 ###-##-#### 2,000 284 8/6/98 7/31/03 9/28/99 8.50% Participant account 10,076 ###-##-#### 1,600 1,104 7/24/97 7/19/01 4/22/99 8.50% Participant account - ###-##-#### 2,900 91 9/3/98 8/31/00 8/27/99 8.50% Participant account 5,325
-16- SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. ----------------------------------------------------------------------------- SCHEDULE H, PART IV, ITEM 4(j) ------------------------------ SCHEDULE OF REPORTABLE TRANSACTIONS ----------------------------------- YEAR ENDED DECEMBER 31, 1999 ----------------------------- Employer Identification Number: 36-3888539 Plan Number: 103
Current Value of Asset on Purchase Selling Cost Transaction Net Identity of Party Involved Description of Assets Price Price of Asset Date Gain ------------------------------------ ---------------------------- --------- ------- -------- ----------- ----- Series of securities transactions in excess of 5% of plan assets ----------------------------------------------------------------- Marshall and Ilsley Trust Company* Vanguard Wellington Fund, Inc. $698,614 $ - $698,614 $698,614 $ - - 614,866 583,259 614,866 31,607 Fidelity Equity-Income Fund, Inc. 966,412 - 966,412 966,412 - - 694,760 641,161 694,760 53,599 Fidelity Magellan Fund, Inc. 512,995 - 512,995 512,995 - - 287,952 265,979 287,952 21,973 *Indicates party-in-interest to the Plan.
-17- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, I the Undersigned Chairman of the Employee Benefits Committee, have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC. /s/ J. Bradford James -------------------------------------------- J. Bradford James Chairman of the Employee Benefits Committee Date: June 28, 2000 Pursuant to the requirements of the Securities Exchange Act of 1934, this annual report has been signed below by the following persons in their capacities as members of the Employee Benefits Committee and on the dates indicated. Signature Title Date /s/ J. Bradford James Senior Vice President June 28, 2000 --------------------- and Chief Financial J. Bradford James Officer /s/ Stephen P. Malia Senior Vice President June 28, 2000 --------------------- Human Resources Stephen P. Malia /s/ E. Paul Dunn, Jr. Vice President and June 28, 2000 --------------------- Treasurer E. Paul Dunn, Jr. /s/ Mary Ann Hynes Senior Vice President June 28, 2000 --------------------- and General Counsel Mary Ann Hynes