A.
|
Full title of the plan and the address of the plan, if different from that of the issuer named below:
|
B.
|
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
|
MINERALS TECHNOLOGIES INC.
SAVINGS AND INVESTMENT PLAN Statements of Net Assets Available for Benefits (in thousands) |
||||||||
|
||||||||
December 31,
|
||||||||
2018
|
2017
|
|||||||
Assets:
|
||||||||
Investments, at fair value (note 3):
|
||||||||
Cash equivalents
|
$
|
1,667
|
$
|
1,906
|
||||
In securities of participating employer
|
32,610
|
41,930
|
||||||
In securities of unaffiliated issuers:
|
||||||||
Common stock
|
14,555
|
14,729
|
||||||
Common collective funds
|
68,811
|
78,283
|
||||||
Mutual funds
|
101,016
|
114,697
|
||||||
Total investments, at fair value
|
218,659
|
251,545
|
||||||
Fully benefit–responsive investment contracts, at contract value
|
56,440
|
61,594
|
||||||
Notes receivable from participants
|
5,096
|
5,195
|
||||||
Net assets available for benefits
|
$
|
280,195
|
$
|
318,334
|
MINERALS TECHNOLOGIES INC.
SAVINGS AND INVESTMENT PLAN Statements of Changes in Net Assets Available for Benefits (in thousands) |
||||||||
Year Ended December 31,
|
||||||||
2018
|
2017
|
|||||||
Additions to net assets attributed to:
|
||||||||
Investment income:
|
||||||||
Net (depreciation) appreciation in fair value of investments
|
$
|
(21,767
|
)
|
$
|
25,443
|
|||
Dividends
|
2,746
|
2,390
|
||||||
Interest
|
1,277
|
1,180
|
||||||
Investment (loss) income
|
(17,744
|
)
|
29,013
|
|||||
Interest from notes receivable from participants
|
243
|
232
|
||||||
Contributions:
|
||||||||
Participants
|
12,381
|
11,790
|
||||||
Employer
|
6,263
|
6,156
|
||||||
Total contributions
|
18,644
|
17,946
|
||||||
Total additions
|
1,143
|
47,191
|
||||||
Reductions from net assets attributed to:
|
||||||||
Benefits paid to participants
|
39,095
|
36,474
|
||||||
Administrative expenses
|
187
|
148
|
||||||
Total reductions
|
39,282
|
36,622
|
||||||
Net (decrease) increase
|
(38,139
|
)
|
10,569
|
|||||
Net assets available for benefits:
|
||||||||
Beginning of year
|
318,334
|
307,765
|
||||||
End of year
|
$
|
280,195
|
$
|
318,334
|
(1)
|
Description of Plan
|
The following description of the Minerals Technologies Inc. Savings and Investment Plan (the Plan) provides only general
information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions.
|
|
General
|
|
The Plan is a defined contribution plan sponsored by Minerals Technologies Inc. (the Plan Sponsor or Company). Employees who
generally work more than 20 hours per week become eligible to participate in the Plan on the date of their employment.
|
|
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
|
|
Contributions
|
|
Participants may elect to contribute between 2% and 20% of eligible earnings (as defined). Contributions may be made on a before-tax
basis, on an after-tax basis, or on a combined basis. Employee contributions of the first 3% of the participant’s eligible contributions will be matched 100% by the Company and the next 2% will be matched 50% by the Company to a maximum
limit of $275,000. Employee contributions in excess of 5% will not be matched. While it is the Company’s intention to make matching contributions each
payroll period, the Company’s Board of Directors reserves the right to increase, reduce or eliminate matching contributions for any Plan Year, or for any payroll period. The Company's matching contributions are invested solely in the
Company's common stock. Participants can, at any time, transfer or reallocate amounts held in the MTI Common Stock Fund to another fund under the Plan.
Employees initially eligible to participate in the Plan on or after January 1, 2012 will be automatically enrolled at a 3%
contribution rate. Newly eligible participants have approximately 45 days from their initial eligibility date to choose a different pre-tax percentage, contribute on an after-tax basis or to opt not to participate in the Plan.
|
|
Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution
plans. Participants direct the investment of their contributions into various investment options offered by the Plan. The maximum before-tax contribution limit for participants under age 50 was $18,500 and $18,000 for 2018 and 2017, respectively. However, a participant's contributions may be further increased or reduced based on the rules and regulations of the Internal Revenue Code
(IRC). All eligible employees who are projected to attain age 50 before the end of the year will be eligible to make pre-tax catch-up contributions in accordance with certain regulations.
|
|
Participant Accounts
|
|
Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and
(b) Plan earnings or loss, and charged with an allocation of administrative expenses. 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 account.
|
|
Vesting
|
|
Participants are fully vested in the entire value of their accounts at the time of contribution.
|
|
Investment Options
|
|
Each participant in the Plan elects to have contributions invested in any one or a combination of the following separate investment
options as of December 31, 2018:
|
|
New York Life Insurance Anchor Account IV: This
fund is a New York Life Insurance Company pooled separate account which invests in fixed income securities.
|
|
BlackRock US Government Bond Portfolio: This fund invests in bonds backed by the U.S. government or by government-linked agencies.
|
|
Prudential Total Return Bond Fund: This fund invests primarily in bonds.
|
State Street Target Retirement Non-Lending Series Funds:
These funds are designed to incorporate a broad range of asset classes to provide diversification of returns and risks consistent with a stated time horizon. The Strategy Funds asset mix becomes progressively more conservative over time as
the strategy target date grows nearer. The strategy target dates range from 2015 to 2055. There is also an age based lifetime strategy fund. The investments are in a combination of U.S. stocks, international stocks, bonds and cash.
|
|
Alliance Bernstein Discovery Value Fund: This fund invests primarily in small and mid-capitalization stocks.
American Beacon Large Cap Value Fund: The fund
normally invests at least 80% of assets in equity securities of large market capitalization U.S. companies.
|
|
American Funds - Fundamental Investors Fund: This
fund invests primarily in common stocks and may invest significantly in securities of issuers domiciled outside the U.S. and Canada and not included in the S&P 500 Index.
|
|
Black Rock Equity Index Fund: This fund invests in the same stocks held in the S & P 500 Index.
|
|
Eaton Vance AtlCapSMID-Cap: This fund invests primarily in small and mid-capitalization stocks.
|
|
ClearBridge Large Cap Growth Fund (IS): This fund seeks long-term capital growth. This fund invests at least 80% of its net assets in equity securities or other instruments with similar economic
characteristics of U.S. companies with large market capitalizations.
Ivy International Core Equity Fund: This fund invests primarily in equity securities of companies located in, or principally traded largely in developed European and Asian/Pacific Basin markets. This
fund typically will have less than 20% of assets invested in U.S. stocks.
|
|
Janus Triton Fund (I): This fund invests in equity securities of small and medium-sized companies.
|
|
Mainstay Balanced Fund: This fund is invested in
stocks, bonds and cash equivalents. Approximately 60% of the fund is invested in mid and large capitalization stock and 40% in fixed income securities and cash equivalents.
|
|
MFS International Value R4 Fund: This fund primarily invests its assets in foreign equity securities, including emerging market equity securities.
|
|
Vanguard Life Strategy Conservative Growth Fund:
This fund is invested in stocks, bonds and cash equivalents. Approximately 60% of the fund’s assets are invested in bonds and 40% in common stocks and cash
equivalents.
|
|
Vanguard Life Strategy Growth Fund: This fund is invested in stocks and bonds. Approximately 80% of the fund’s assets are invested in stocks and 20% in bonds.
|
|
Vanguard Life Strategy Moderate Growth Fund: This
fund is invested in stocks, bonds and cash equivalents. Approximately 60% of the fund is invested in mid and large capitalization stock and 40% in fixed income securities and cash equivalents.
|
|
State Street Russell Small/Mid Cap Index Non-Lending
Series Fund: This fund is designed to match the risk and return of the Russell 2000 Index, a broadly based average of the U.S. equity market.
|
|
State Street S&P Midcap 400 Index Securities Lending
Series Fund: This fund is designed to match the risk and return of the Standard & Poor's 400 Index, a broadly based average of the U.S. equity market.
|
|
MTI Common Stock Fund: This fund invests in the
Company's common stock. The MTI Common Stock Fund is a participant-directed fund. All Company matching contributions are invested in this fund, and once deposited; the investments are participant-directed.
|
|
Pfizer Common Stock Fund: This fund invests in
the common stock of Pfizer Inc. The fund holds contributions to the Pfizer Common Stock Fund, which were transferred from Pfizer Inc. when the Plan was established. No new contributions or transfers can be made into this fund, however,
participants are allowed to transfer balances from this fund into other investment options.
|
|
TD Ameritrade Brokerage Account: This is a
participant-directed brokerage account which invests primarily in a variety of publicly available mutual funds, common stock and cash and cash equivalents.
|
Notes Receivable from Participants
|
|
Participants may borrow from their accounts an amount up to $50,000 or 50 percent of their account balance, whichever is less. The
minimum amount a participant may borrow is $1,000. The loan repayments and interest earned are allocated to each eligible investment option based upon the participant's current contribution election percentages.
|
|
Loans must be repaid over a period of not more than five
years; however, if the loan is used to purchase a principal residence, the loan can be repaid over a period of not more than fifteen years. The loans are secured by the balance in the participant's account and bear interest at rates that range from 4.25% to 9.75% for 2018 and 2017 which are fixed at
the time of the loan and which are commensurate with prevailing rates as determined quarterly by the Plan administrator.
|
|
Payment of Benefits
|
|
On termination of service due to death, disability, retirement, or other reasons, a participant would receive a lump-sum amount equal
to the value of the participant's account. In-service withdrawals, including hardship withdrawals, may also be made under certain circumstances.
|
|
(2)
|
Summary of Significant Accounting Policies
|
Basis of Presentation
|
|
The accompanying financial statements have been prepared on the accrual basis of accounting.
|
|
Use of Estimates
|
|
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP) 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.
|
|
Asset Valuation and Income Recognition
|
|
The Plan's investments are stated at fair value except for the fully benefit responsive contract which is stated at contract value.
Short-term investments are recorded at cost, which approximates fair value. The common stock within the MTI Common Stock Fund, Pfizer Common Stock Fund, and the shares of mutual funds, including those held in the brokerage account are
valued using quoted market prices. Common collective funds are stated at fair value reported by the fund manager based on the underlying investments within each fund and are expressed in units representing the net asset value of each
fund. The value of a unit will fluctuate in response to various factors including, but not limited to, the price of the underlying shares, dividends paid, earnings and losses, and the mix of assets in the respective fund. These investments do not have a readily determinable fair value and the Fund relies on net asset values as the fair value for certain investments as of the Plan’s
measurement date.
|
|
Purchases and sales of securities are recorded on a trade date basis. The net appreciation (depreciation) in fair value of
investments consists of the net realized gains and losses from the sale of investments and the unrealized appreciation (depreciation) of the fair value for the investments remaining in the Plan.
|
|
Dividend income is recorded on the ex-dividend date. Interest income is recorded on an accrual basis.
|
|
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent
participant loans are reclassified as distributions based upon the terms of the plan agreement.
|
|
Payment of Benefits
|
|
Benefits are recorded when paid.
|
(3)
|
Fair Value Measurements
|
There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1,
defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs about
which little or no market data exists, therefore requiring an entity to develop its own assumptions.
|
The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in
the methodologies used at December 31, 2018 or 2017.
|
Equity securities: The fair
value is based on the unadjusted closing price reported on the active market on which the security is traded and is classified within Level 1 of the fair value hierarchy.
|
|
Mutual funds: Registered
investment companies are public investment vehicles valued using net asset value (“NAV”) provided by the administrator of the mutual fund. These securities are valued using quoted market prices. The NAV is an unadjusted quoted price on an
active market and classified within Level 1 of the fair value hierarchy.
|
|
Common collective funds: Valued at the fair using the NAV provided by the fund trustee as a practical expedient based on the value of the underlying assets owned by the trust, minus its liabilities, and then divided by the number of shares
outstanding. The Fund relies on net asset values as the fair value for common collective funds as of the Plan’s measurement date. There are no imposed
redemption restrictions nor does the Plan have any contractual obligations to further invest in the common collective trust funds. Investments that are currently measured using NAV as a practical expedient are not categorized within the
fair value hierarchy.
|
|
Cash equivalents: The
carrying value approximates fair value and is classified within Level 1 of the fair value hierarchy.
|
The following tables sets forth by level, the Plan's financial assets at fair value as of December 31, 2018 and 2017. Assets and
liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires
judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The method described above may produce a fair value that may not be indicative of net realizable value
or reflective of future fair value. There were no transfers between fair value levels during 2018 and 2017.
|
As of December 31, 2018
(dollars in thousands)
|
||||||||||||||||
Investments at Fair Value as determined by Quoted Prices in active markets (Level I)
|
Valuation techniques based on observable market data (Level II)
|
Valuation techniques incorporating information other than observable market data (Level III)
|
Total Investments measured at
Fair Value at December 31, 2018
|
|||||||||||||
Cash equivalents
|
$
|
1,667
|
$
|
--
|
$
|
--
|
$
|
1,667
|
||||||||
Mutual funds
|
||||||||||||||||
Fixed income funds
|
$
|
11,576
|
$
|
--
|
$
|
--
|
$
|
11,576
|
||||||||
Equity Funds
|
$
|
45,796
|
$
|
--
|
$
|
--
|
$
|
45,796
|
||||||||
Growth & Income funds
|
$
|
42,503
|
$
|
--
|
$
|
--
|
$
|
42,503
|
||||||||
Mutual funds - Participant-Directed Brokerage Account
|
||||||||||||||||
Equity Funds –Capital Growth
|
$
|
683
|
$
|
--
|
$
|
--
|
$
|
683
|
||||||||
Equity Funds – Current Income
|
$
|
134
|
$
|
--
|
$
|
--
|
$
|
134
|
||||||||
Balanced Funds
|
$
|
75
|
$
|
--
|
$
|
--
|
$
|
75
|
||||||||
Fixed Income Funds
|
$
|
235
|
$
|
--
|
$
|
--
|
$
|
235
|
||||||||
International Funds
|
$
|
14
|
$
|
--
|
$
|
--
|
$
|
14
|
||||||||
Total mutual funds
|
$
|
101,016
|
$
|
--
|
$
|
--
|
$
|
101,016
|
||||||||
Common stock
|
||||||||||||||||
Participant-Directed Brokerage Account
|
$
|
524
|
$
|
--
|
$
|
--
|
$
|
524
|
||||||||
Pharmaceuticals
|
$
|
14,031
|
$
|
--
|
$
|
--
|
$
|
14,031
|
||||||||
Industrial
|
$
|
32,610
|
$
|
--
|
$
|
--
|
$
|
32,610
|
||||||||
Total common stock
|
$
|
47,165
|
$
|
--
|
$
|
--
|
$
|
47,165
|
||||||||
Other investments measured at net asset value
|
$
|
--
|
$
|
--
|
$
|
--
|
$
|
68,811
|
||||||||
Total investments
|
$
|
149,848
|
$
|
--
|
$
|
--
|
$
|
218,659
|
As of December 31, 2017
(dollars in thousands)
|
||||||||||||||||
Investments at Fair Value as determined by Quoted Prices in active markets (Level I)
|
Valuation techniques based on observable market data (Level II)
|
Valuation techniques incorporating information other than observable market data (Level III)
|
Total Investments measured at
Fair Value at December 31, 2017
|
|||||||||||||
Cash equivalents
|
$
|
1,906
|
$
|
--
|
$
|
--
|
$
|
1,906
|
||||||||
Mutual funds
|
||||||||||||||||
Fixed income funds
|
$
|
11,354
|
$
|
--
|
$
|
--
|
$
|
11,354
|
||||||||
Equity Funds
|
$
|
53,309
|
$
|
--
|
$
|
--
|
$
|
53,309
|
||||||||
Growth & Income funds
|
$
|
48,902
|
$
|
--
|
$
|
--
|
$
|
48,902
|
||||||||
Mutual funds - Participant-Directed Brokerage Account
|
||||||||||||||||
Equity Funds –Capital Growth
|
$
|
565
|
$
|
--
|
$
|
--
|
$
|
565
|
||||||||
Equity Funds – Current Income
|
$
|
254
|
$
|
--
|
$
|
--
|
$
|
254
|
||||||||
Balanced Funds
|
$
|
90
|
$
|
--
|
$
|
--
|
$
|
90
|
||||||||
Fixed Income Funds
|
$
|
206
|
$
|
--
|
$
|
--
|
$
|
206
|
||||||||
International Funds
|
$
|
17
|
$
|
--
|
$
|
--
|
$
|
17
|
||||||||
Total mutual funds
|
$
|
114,697
|
$
|
--
|
$
|
--
|
$
|
114,697
|
||||||||
Common stock
|
||||||||||||||||
Participant-Directed Brokerage Account
|
$
|
821
|
$
|
--
|
$
|
--
|
$
|
821
|
||||||||
Pharmaceuticals
|
$
|
13,908
|
$
|
--
|
$
|
--
|
$
|
13,908
|
||||||||
Industrial
|
$
|
41,930
|
$
|
--
|
$
|
--
|
$
|
41,930
|
||||||||
Total common stock
|
$
|
56,659
|
$
|
--
|
$
|
--
|
$
|
56,659
|
||||||||
Other investments measured at net asset value
|
$
|
--
|
$
|
--
|
$
|
--
|
$
|
78,283
|
||||||||
Total investments
|
$
|
173,262
|
$
|
--
|
$
|
--
|
$
|
251,545
|
(4)
|
Fully Benefit Responsive Contract
|
The Plan invests in the New York Life Insurance Anchor Acct IV, which is considered a fully benefit responsive contract. This
investment is valued at contract value reported by the fund manager based on the underlying investments within each fund. There are no imposed redemption
restrictions.
The average yield of the underlying assets earned by the Plan from the New York Life Insurance Anchor Account III was 2.87% and 2.29%
at December 31, 2018 and 2017, respectively. The average crediting interest rate was 2.58% and 1.84% at December 31, 2018 and 2017, respectively.
The existence of certain conditions can limit the Contract's ability to transact at contract value with the issuers of its investment
contracts. Specifically, any event outside the normal operation of the Contract that causes a withdrawal from an investment contract may result in a negative market value adjustment with respect to such withdrawal. Examples of such events
include, but are not limited to, partial or complete legal termination of the Contract or a unitholder, tax disqualification of the Contract or a unitholder, and certain Contract amendments if issuers' consent is not obtained. As of
December 31, 2018, the occurrence of an event outside the normal operation of the Contract that would cause a withdrawal from an investment contract is not considered to be probable. To the extent a unitholder suffers a tax
disqualification or legal termination event, under normal circumstances it is anticipated that liquid assets would be available to satisfy the redemption of such unitholder's interest in the Contract without the need to access investment
contracts.
|
|
(5)
|
Plan Termination
|
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any
time and to terminate the Plan by action of the Company's Board of Directors, subject to the provisions of ERISA. Upon termination of the Plan, each participant thereby affected would receive the entire value of his or her account as of
the date of such termination. No part of the assets in the investment funds established pursuant to the Plan would at any time revert to the Company.
|
|
(6)
|
Tax Status
|
The Internal Revenue Service (IRS) determined and informed the Company by a letter dated December 27, 2013, that the Plan and related
Trust established thereunder are properly designed and, thus qualified and are tax exempt, respectively, within the meaning of Sections 401(a) and 501(a) of the Internal Revenue Code (IRC). Although the Plan has been amended and restated
since receiving the determination letter, the Company and legal counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC.
U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or de-recognize an
asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December
31, 2018 and 2017, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or de-recognition of an asset) or disclosure in the financial statements. The Plan is subject to routine
audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax audits for years prior to 2015.
|
|
(7)
|
Administrative and Investment Advisor Costs
|
All costs of administering the Plan are paid by the Plan and amounted to $187,310 and $147,916 for the years ended December 31, 2018 and 2017, respectively. Participants are responsible for any
origination and maintenance fees for each loan, and certain expenses for participating in the participant directed brokerage account. Investment advisers are reimbursed for costs incurred or receive a management fee for providing
investment advisory services. Investment advisory fees and costs are deducted and reflected in the net appreciation (depreciation) in the fair value of investments on the Statements of Changes in Net Assets Available for Benefits.
|
(8)
|
Related-Party Transactions
|
John Hancock Trust Company LLC is Trustee and record keeper of the Plan. Certain Plan investments in the pooled separate account and
mainstay mutual funds are managed by New York Life Investment Management LLC, an affiliate of John Hancock Trust Company LLC.
|
|
Certain Plan investments are shares of the Company's common stock, which qualify as party-in-interest transactions.
|
|
(9)
|
Concentration of Risks and Uncertainties
|
The Plan's exposure to a concentration of credit risk is limited by the diversification of investments across several
participant-directed fund elections. Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments, with the exception of the MTI and Pfizer common stock funds, which
principally invest in securities of a single issuer.
|
|
The Plan investments include a number of investment options including MTI and Pfizer common stock and a variety of investment funds,
some of which are mutual funds or common collective funds. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with
certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets for
benefits and participant account balances. Plan investments included a variety of investment that may directly or indirectly invest in securities with contractual cash flows. The value, liquidity, and related income of these securities are
sensitive to changes in economic conditions and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
|
|
(10)
|
Subsequent Events
|
The Plan evaluated events subsequent to December 31, 2018 and through June 21, 2019, the date on which the financial statements were
issued, and determined there have not been any events that have occurred that would require adjustment to or disclosure in the financial statements.
|
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
||||||||||||
Identity of issue, borrower,
lessor or similar party |
Description of investment/interest
|
Cost
|
Current Value
|
|||||||||||||
Cash Equivalents:
|
||||||||||||||||
PIMCO Government Money Market
|
Money market account
|
$
|
704
|
$
|
704
|
|||||||||||
TD Ameritrade Participant-Directed Brokerage Account
|
various money market accounts
|
$
|
963
|
$
|
963
|
|||||||||||
Total Cash Equivalents
|
$
|
1,667
|
$
|
1,667
|
||||||||||||
Fully benefit responsive investment contract, at contract value:
|
||||||||||||||||
*
|
New York Life Insurance Anchor Acct III
|
56,440
|
units
|
$
|
56,440
|
$
|
56,440
|
|||||||||
Common Collective Funds:
|
||||||||||||||||
Target Retirement 2015 Strategy
|
||||||||||||||||
State Street Target Retirement 2015 Securities Non-Lending Series Fund
|
87
|
units
|
$
|
1,427
|
$
|
1,427
|
||||||||||
Target Retirement 2020 Strategy
|
||||||||||||||||
State Street Target Retirement 2020 Securities Non-Lending Series Fund
|
146
|
units
|
$
|
2,558
|
$
|
2,558
|
||||||||||
Target Retirement 2025 Strategy
|
||||||||||||||||
State Street Target Retirement 2025 Securities Non-Lending Series Fund
|
415
|
units
|
$
|
7,602
|
$
|
7,602
|
||||||||||
Target Retirement 2030 Strategy
|
||||||||||||||||
State Street Target Retirement 2030 Securities Non-Lending Series Fund
|
167
|
units
|
$
|
3,117
|
$
|
3,117
|
||||||||||
Target Retirement 2035 Strategy
|
||||||||||||||||
State Street Target Retirement 2035 Securities Non-Lending Series Fund
|
157
|
units
|
$
|
3,007
|
$
|
3,007
|
||||||||||
Target Retirement 2040 Strategy
|
||||||||||||||||
State Street Target Retirement Securities Non-Lending Series Fund
|
112
|
units
|
$
|
2,117
|
$
|
2,117
|
||||||||||
Target Retirement 2045 Strategy
|
||||||||||||||||
State Street Target Retirement 2045 Securities Non-Lending Series Fund
|
108
|
units
|
$
|
2,040
|
$
|
2,040
|
||||||||||
Target Retirement 2050 Strategy
|
||||||||||||||||
State Street Target Retirement 2050 Securities Non-Lending Series Fund
|
73
|
units
|
$
|
1,382
|
$
|
1,382
|
||||||||||
Target Retirement 2055 Strategy
|
||||||||||||||||
State Street Target Retirement 2055 Securities Non-Lending Series Fund
|
70
|
units
|
$
|
894
|
$
|
894
|
||||||||||
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
||||||||||
Identity of issue, borrower,
lessor or similar party |
Description of investment/interest
|
Cost
|
Current Value
|
|||||||||||
Black Rock Equity Index Fund
|
1,141
|
units
|
$
|
20,677
|
$
|
33,290
|
||||||||
State Street Russell Small/Midcap Index Non-Lending Series Fund
|
82
|
units
|
$
|
3,767
|
$
|
4,319
|
||||||||
State Street S&P Midcap 400 Index Securities Lending Series Fund
|
72
|
units
|
$
|
5,720
|
$
|
6,703
|
||||||||
Target Retirement Income Strategy
|
||||||||||||||
SSgA Target Retirement Income Non-Lending Series Fund
|
24
|
units
|
$
|
355
|
$
|
355
|
||||||||
Total Common Collective Funds
|
$
|
54,633
|
$
|
68,811
|
Mutual Funds:
|
||||||||||||||||||||
Alliance Bernstein Discovery Value Fund
|
74
|
units
|
$
|
1,519
|
$
|
1,273
|
||||||||||||||
American Beacon Large Cap Value Fund
|
217
|
units
|
$
|
5,446
|
$
|
4,656
|
||||||||||||||
American Funds - Fundamental Investors Fund
|
421
|
units
|
$
|
20,371
|
$
|
21,971
|
||||||||||||||
BlackRock US Government Bond Portfolio
|
178
|
units
|
$
|
1,848
|
$
|
1,808
|
||||||||||||||
ClearBridge Large Cap Growth IS
|
182
|
Units
|
$
|
$
|
7,996
|
$
|
7,883
|
|||||||||||||
Eaton Vance AtlCapSMID-Cap
|
107
|
units
|
$
|
3,116
|
$
|
3,200
|
||||||||||||||
Ivy International Core Equity Fund
|
440
|
units
|
$
|
7,997
|
$
|
6,732
|
||||||||||||||
Janus Triton Fund (I)
|
153
|
units
|
$
|
4,145
|
$
|
3,902
|
||||||||||||||
*
|
Mainstay Balanced Fund
|
472
|
units
|
$
|
14,312
|
$
|
13,106
|
|||||||||||||
MFS International Value R4
|
108
|
units
|
$
|
4,011
|
$
|
4,062
|
||||||||||||||
Prudential Total Return Bond Fund
|
702
|
units
|
$
|
10,057
|
$
|
9,768
|
||||||||||||||
Vanguard Life Strategy Conservative Growth
|
219
|
units
|
$
|
4,185
|
$
|
4,091
|
||||||||||||||
Vanguard Life Strategy Growth
|
151
|
units
|
$
|
4,493
|
$
|
4,527
|
||||||||||||||
Vanguard Life Strategy Moderate Growth
|
520
|
units
|
$
|
12,731
|
$
|
12,896
|
||||||||||||||
Mutual Fund Window
|
||||||||||||||||||||
TD Ameritrade Participant-Directed Brokerage Account
|
various mutual fund investments
|
$
|
1,141
|
$
|
1,141
|
|||||||||||||||
Total Mutual Funds
|
$
|
103,368
|
$
|
101,016
|
||||||||||||||||
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
||||||||||||
Identity of issue, borrower,
lessor or similar party |
Description of investment/interest
|
Cost
|
Current Value
|
|||||||||||||
TD Ameritrade Participant-Directed Brokerage Account
|
various common stock investments
|
$
|
524
|
$
|
524
|
|||||||||||
*
|
MTI Common Stock Fund
|
|||||||||||||||
Minerals Technologies Inc.
|
||||||||||||||||
Common Stock
|
635
|
units
|
$
|
31,646
|
$
|
32,610
|
||||||||||
Pfizer Common Stock Fund
|
||||||||||||||||
Pfizer Inc. Common Stock
|
321
|
units
|
$
|
7,846
|
$
|
14,031
|
||||||||||
Total Common Stock
|
$
|
40,016
|
$
|
47,165
|
||||||||||||
*
|
Notes receivable from participants
|
559 loans to participants with interest rates of 4.25% to 9.75% with various maturity dates through 2033
|
$
|
-
|
$
|
5,096
|
||||||||||
Total
|
$
|
280,195
|
By:
|
/s/ Matthew E. Garth
|
Matthew E. Garth
Senior Vice President - Finance and Treasury, Chief Financial Officer Member, Minerals Technologies Inc. Savings and Investment Plan Committee |
Exhibit Number
|
Exhibit Description
|
23.1
|