e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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ANNUAL REPORT PURSUANT TO SECTION
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE
REQUIRED] |
FOR THE
FISCAL YEAR ENDED DECEMBER 31, 2010
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TRANSITION REPORT PURSUANT TO
SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE
REQUIRED] |
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER 1-12001
ALLEGHENY TECHNOLOGIES
RETIREMENT SAVINGS PLAN
(Title of Plan)
ALLEGHENY TECHNOLOGIES INCORPORATED
(Name of Issuer of securities held pursuant to the Plan)
1000 Six PPG Place, Pittsburgh, Pennsylvania 15222-5479
(Address of Plan and principal executive offices of Issuer)
Audited Financial Statements and Supplemental
Schedule
Allegheny Technologies Retirement Savings Plan
Years Ended December 31, 2010 and 2009
With Report of Independent Registered Public Accounting Firm
Allegheny Technologies Retirement Savings Plan
Audited Financial Statements
and Supplemental Schedule
Years Ended December 31, 2010 and 2009
Contents
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1 |
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Audited Financial Statements |
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2 |
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3 |
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4 |
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Supplemental Schedule |
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13 |
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EX-23.1 |
Report of Independent Registered Public Accounting Firm
Allegheny Technologies Incorporated
We have audited the accompanying statements of net assets available for benefits of the Allegheny
Technologies Retirement Savings Plan as of December 31, 2010 and 2009, and the related statements
of changes in net assets available for benefits for the years then ended. These financial
statements are the responsibility of the Plans management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (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. We
were not engaged to perform an audit of the Plans internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Plans internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31, 2010 and 2009, and the
changes in its net assets available for benefits for the years then ended, in conformity with U.S.
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken
as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December
31, 2010, is presented for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the Department of Labors Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplemental schedule is the responsibility of the Plans management. The supplemental
schedule has been subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, is fairly stated in all material respects in relation to the
financial statements taken as a whole.
/s/ Ernst & Young LLP
Pittsburgh, Pennsylvania
June 28, 2011
1
Allegheny Technologies Retirement Savings Plan
Statements of Net Assets Available for Benefits
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December 31 |
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2010 |
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2009 |
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Investments at fair value: |
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Interest in registered investment companies |
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$ |
173,468,134 |
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$ |
86,510,639 |
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Interest in synthetic investment contracts |
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85,820,716 |
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96,691,920 |
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Corporate common stocks |
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28,165,444 |
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24,860,857 |
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Interest-bearing cash and cash equivalents |
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16,064,166 |
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10,446,108 |
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Interest in common collective trusts |
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2,303,779 |
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58,703,216 |
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Total investments at fair value |
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305,822,239 |
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277,212,740 |
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Notes receivable from participants |
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3,674,030 |
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3,472,651 |
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Contributions receivable |
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12,903 |
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9,136 |
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3,686,933 |
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3,481,787 |
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Net assets available reflecting investments at fair value |
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309,509,172 |
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280,694,527 |
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Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
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(2,609,478 |
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(1,008,884 |
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Net assets available for benefits |
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$ |
306,899,694 |
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$ |
279,685,643 |
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See accompanying notes.
2
Allegheny Technologies Retirement Savings Plan
Statements of Changes in Net Assets Available for Benefits
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Years Ended December 31 |
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2010 |
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2009 |
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Contributions: |
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Employer |
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$ |
7,775,975 |
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$ |
8,086,315 |
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Employee |
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7,390,554 |
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7,336,340 |
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Rollovers |
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558,049 |
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351,778 |
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Total contributions |
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15,724,578 |
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15,774,433 |
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Interest income on notes receivable from participants |
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201,901 |
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205,661 |
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Investment income: |
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Net gain from interest in registered investment
companies |
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20,627,222 |
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20,857,133 |
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Net gain on corporate common stocks |
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6,610,304 |
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10,684,342 |
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Net gain from interest in common collective trusts |
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1,296,358 |
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10,531,685 |
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Interest income |
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1,004,971 |
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1,357,720 |
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Dividend income |
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285 |
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124 |
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Other |
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2,573,950 |
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3,254,827 |
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Total investment income |
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32,113,090 |
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46,685,831 |
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48,039,569 |
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62,665,925 |
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Distributions to participants |
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(20,333,435 |
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(11,404,618 |
) |
Administrative expenses and other, net |
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(492,083 |
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(711,643 |
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(20,825,518 |
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(12,116,261 |
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Net increase in net assets available for benefits |
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27,214,051 |
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50,549,664 |
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Net assets available for benefits at beginning of year |
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279,685,643 |
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229,135,979 |
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Net assets available for benefits at end of year |
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$ |
306,899,694 |
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$ |
279,685,643 |
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See accompanying notes.
3
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements
December 31, 2010
1. Significant Accounting Policies
Use of Estimates and Basis of Accounting
The preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from those estimates.
The financial statements are prepared under the accrual basis of accounting.
Investment Valuation
Investments are reported at fair value. Fully benefit-responsive investment contracts held by a
defined contribution plan are reported at fair value in the Plans statement of net assets
available for benefits with a corresponding adjustment to reflect these investments at contract
value. Contract value is the relevant measurement attributable to fully benefit-responsive
investment contracts because contract value is the amount participants would receive if they were
to initiate permitted transactions under the terms of the Plan. The contract value represents
contributions plus earnings, less participant withdrawals and administrative expenses.
Recent Accounting Pronouncements
In September 2010, the Financial Accounting Standards Board (FASB) issued changes to reporting and
disclosure requirements for loans to participants. Participant loans are required to be measured
at their unpaid principal balance plus any accrued but unpaid interest, and classified as notes
receivable from participants. Previously, loans were measured at fair value and classified as
investments. The changes are effective for the fiscal year ended December 31, 2010, and are
required to be applied retrospectively. There were no changes to the value of participant loans
from the amount previously reported as of December 31, 2009. Participant loans have been
reclassified to notes receivable from participants as of December 31, 2009.
In January 2010, the FASB issued changes to disclosure requirements for fair value measurements,
including the amount of transfers between Levels 1 and 2 of the fair value hierarchy, the reasons
for transfers in or out of Level 3 of the fair value hierarchy, and activity for recurring Level 3
measures. In addition, the changes clarify certain disclosure requirements related to the level at
which fair value disclosures should be disaggregated with separate disclosures of purchases, sales,
issuances and settlements, and the requirement to provide disclosures about valuation techniques
and inputs used in determining the fair value of assets or liabilities classified as Level 2 or 3.
The Plan adopted the disclosure changes effective January 1, 2010, except for the disaggregated
Level 3 rollforward disclosures, which will be effective for fiscal year 2011. The adoption of
these changes did not have a material impact on the Plans net assets available for benefits or its
changes in net assets available for benefits.
4
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
2. Description of the Plan
The Allegheny Technologies Retirement Savings Plan (the Plan) is a defined contribution plan and is
subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
The purpose of the Plan is to provide retirement benefits to eligible employees through Company
contributions and to encourage employee thrift by permitting eligible employees to defer a part of
their compensation and contribute such deferral to the Plan. The Plan allows employees to
contribute a portion of eligible wages each pay period through payroll deductions subject to
Internal Revenue Code limitations. Depending on participants years of service, qualifying employee
contributions are matched by the respective employing companies, which are Allegheny Technologies
Incorporated (ATI, the Plan Sponsor) and affiliates of ATI, up to 4% of participants salary. In
addition, the respective employing companies contribute 6.5% of participants monthly pensionable
earnings, as described in the Plan, and in addition contribute $43.34 per month per participant.
With respect to participants who are members of the Salaried Union Office & Technical (Local
1196-1) Agreement, the Plan was amended on January 1, 2004, to provide an employer contribution of
$0.50 for each hour worked by the participant, and on June 1, 2004, to provide that the employer
match and the employer contributions of 6.5% of participants monthly pensionable earnings and
$43.34 per month were eliminated. The Plan allows participants to direct their contributions, and
contributions made on their behalf, to any of the investment alternatives. Unless otherwise
specified by the participant, contributions are made to the QDIA (Qualified Default Investment
Alternative), The Vanguard Target Retirement Fund that most closely matches the participants
65th birthday date (e.g. Vanguard Target Retirement Income 2020 Fund).
Separate accounts are maintained by the Plan Sponsor for each participating employee. Trustee fees
and asset management fees charged by the Plans trustee, Mercer Trust Company, for the
administration of all funds are charged against net assets available for benefits of the respective
fund. Certain other expenses of administering the Plan are paid by the Plan Sponsor.
Participants may make in-service and hardship withdrawals as outlined in the plan document.
Active employees can borrow up to 50% of their vested account balances minus any outstanding loans.
The loan amounts are further limited to a minimum of $1,000 and a maximum of $50,000, and an
employee can obtain no more than three loans at one time. Interest rates are determined based on
commercially accepted criteria, and payment schedules vary based on the type of the loan. General
purpose loans are repaid over 6 to 60 months, and primary residence loans are repaid over periods
up to 180 months. Payments are made by payroll deductions.
Further information about the Plan, including eligibility, vesting, contributions, and withdrawals,
is contained in the plan documents, summary plan description, and related contracts. These
documents are available from the Plan Sponsor.
5
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
3. Investments
The BNY Mellon Stable Value Fund (the Fund) invests in guaranteed investment contracts (GICs) and
actively managed structured or synthetic investment contracts (SICs). The GICs are promises by a
bank or insurance company to repay principal plus a fixed rate of return through contract maturity.
SICs differ from GICs in that there are specific assets supporting the SICs and these assets are
owned by the Plan. The bank or insurance company issues a wrapper contract that allows
participant-directed transactions to be made at contract value. The assets supporting the SICs were
comprised of government agency bonds, corporate bonds, asset-backed securities (ABOs), a common collective trust (CCT), and
collateralized mortgage obligations (CMOs).
Interest crediting rates on the GICs in the Fund are determined at the time of purchase. The Fund
had no GIC investments for the periods presented. Interest crediting rates on the SICs are either:
(1) set at the time of purchase for a fixed term and crediting rate, (2) set at the time of
purchase for a fixed term and variable crediting rate, or (3) set at the time of purchase and reset
monthly within a constant duration. A constant duration contract may specify a duration of 2.5
years, and the crediting rate is adjusted monthly based upon quarterly rebalancing of eligible 2.5
year duration investment instruments at the time of each resetting; in effect the contract never
matures.
Average yields for all fully benefit-responsive investment contracts for the years ended December
31, 2010 and 2009 were as follows:
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Years Ended December 31 |
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2010 |
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2009 |
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Based on actual earnings |
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3.01 |
% |
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3.67 |
% |
Based on interest rate credited to participants |
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2.90 |
% |
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3.55 |
% |
Although it is managements intention to hold the investment contracts in the Fund until maturity,
certain investment contracts provide for adjustments to contract value for withdrawals made prior
to maturity.
Certain investments are subject to restrictions or limitations if the Plan Sponsor decided to
entirely exit an investment. Investments in registered investment companies and the investment may
require at least 30 days prior notice to completely withdraw from the investments. The targeted
date fund investments held in common collective trusts currently do not require the prior approval
of the investment manager if the Plan Sponsor decides to entirely exit these investments, but prior
trade date notification is necessary to effect timely securities settlement or delivery of an
investments liquidation and transfer to another investment.
6
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
3. Investments (continued)
The following presents investments that represent 5% or more of the Plans net assets:
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December 31 |
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2010 |
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2009 |
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Allegheny Technologies Incorporated common stock |
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$ |
28,165,444 |
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$ |
24,860,857 |
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Prudential Core Conservative Intermediate Bond Fund*,*** |
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27,957,168 |
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American Funds Growth Fund of America |
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23,152,297 |
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21,630,910 |
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Alliance Bernstein Small Mid Cap Value Fund |
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19,646,199 |
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15,194,696 |
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EB Temporary Investment Fund of Bank of New York Mellon * |
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16,064,166 |
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10,446,108 |
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Vanguard Institutional Index Fund* |
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16,010,060 |
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MSIF Small Company Growth Fund* |
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15,353,658 |
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8,377,664 |
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American Funds Europacific Growth Fund** |
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14,154,489 |
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14,083,886 |
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BlackRock Asset-Backed Securities Index Fund***, ** |
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9,653,444 |
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21,306,579 |
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BlackRock Mortgage-Backed Securities Index Fund***, ** |
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8,916,465 |
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14,051,837 |
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State Street
Global Advisors S&P 500 Flagship SL Fund** |
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14,094,515 |
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* |
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Prior year presented for comparative purposes only |
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** |
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Current year presented for comparative purposes only |
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*** |
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Held within SICs |
Investments in SICs at contract value that represent 5% or more of the Plans net assets were
as follows:
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December 31 |
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2010 |
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2009 |
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Monumental Life Ins. Co. Constant Duration SIC |
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$ |
27,806,101 |
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$ |
28,033,321 |
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Prudential Constant Maturity SIC* |
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27,115,036 |
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State Street Constant Duration SIC** |
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14,972,879 |
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15,095,377 |
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Rabobank Constant Duration SIC** |
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27,365,955 |
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* |
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Prior year presented for comparative purposes only |
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** |
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Current year presented for comparative purposes only |
7
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements
In accordance with accounting standards, fair value is defined as the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date, and establishes a framework for measuring fair value.
The accounting standards establish a three-level hierarchy for fair value measurements based upon
the transparency of inputs to the valuation of an asset or liability as of the measurement date.
Determination of Fair Value
Fair value is based upon quoted market prices, where available. If listed prices or quotes are not
available, fair value is based upon models that primarily use, as inputs, market-based or
independently sourced market parameters, including yield curves, interest rates, volatilities,
equity or debt prices, foreign exchange rates and credit curves. In addition to market information,
models may also incorporate transaction details, such as maturity. Valuation adjustments, such as
liquidity valuation adjustments, may be necessary when the Plan is unable to observe a recent
market price for a financial instrument that trades in inactive (or less active) markets. Liquidity
adjustments are not taken for positions classified within Level 1 (as defined below) of the fair
value hierarchy.
The methods described above may produce a fair value calculation that may not be indicative of net
realizable value or reflective of future fair values. Furthermore, while the Plan believes its
valuation methods are appropriate and consistent with other market participants, the use of
different methodologies or assumptions to determine the fair value of certain financial instruments
could result in a different estimate of fair value at the reporting date.
Valuation Hierarchy
The three levels of inputs to measure fair value are as follows:
Level 1 Quoted prices in active markets for identical assets and liabilities.
Level 2 Observable inputs other than quoted prices included in Level 1, such as quoted prices
for similar assets and liabilities in active markets; quoted prices for identical assets and
liabilities in markets that are not active; or other inputs that are observable or can be
corroborated by observable market data.
Level 3 Unobservable inputs that are supported by little or no market activity and that are
significant to the fair value of the assets and liabilities. This includes certain pricing models,
discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
A financial instruments categorization within the valuation hierarchy is based upon the lowest
level of input that is significant to the fair value measurement.
8
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
Valuation Methodologies
The valuation methodologies used for assets and liabilities measured at fair value, including their
general classification based on the fair value hierarchy, includes the following:
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Cash and cash equivalents Where the net asset value (NAV) is a quoted price in a market
that is active, it is classified within Level 1 of the valuation hierarchy. In certain cases,
NAV is a quoted price in a market that is not active, or is based on quoted prices for similar
assets and liabilities in active markets, and these investments are classified within Level 2
of the valuation hierarchy. |
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Corporate common stocks These investments are valued at the closing price reported on
the major market on which the individual securities are traded. Substantially all other common
stock is classified within Level 1 of the valuation hierarchy. |
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Common collective trust funds These investments are public investment vehicles valued
using the NAV provided by the administrator of the fund. The NAV is based on the value of the
underlying assets owned by the fund, minus its liabilities, and then divided by the number of
shares outstanding. The NAV is a quoted price in a market that is not active and classified
within Level 2 of the valuation hierarchy. |
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Registered investment companies These investments are public investment vehicles valued
using the NAV provided by the administrator of the fund. The NAV is based on the value of the
underlying assets owned by the fund, minus its liabilities, and then divided by the number of
shares outstanding. Where the NAV is a quoted price in a market that is active, it is
classified within Level 1 of the valuation hierarchy. In certain cases, NAV is a quoted price
in a market that is not active, or is based on quoted prices for similar assets and
liabilities in active markets, and these investments are classified within Level 2 of the
valuation hierarchy. |
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Corporate debt instruments, U.S. government and federal agency obligations, U.S.
government-sponsored entity obligations, and other Where quoted prices are available in an
active market, the investments are classified within Level 1 of the valuation hierarchy. If
quoted market prices are not available for the specific security, then fair values are
estimated by using pricing models, quoted prices of securities with similar characteristics,
or discounted cash flows. When quoted market prices for the specific security are not
available in an active market, they are classified within Level 2 of the valuation hierarchy. |
9
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
|
|
Synthetic investment contracts Fair value is based on the underlying investments. The
underlying investments include government agency bonds, corporate bonds, ABOs and CMOs.
Because inputs to the valuation methodology include quoted prices for similar assets and
liabilities in active markets, synthetic investment contracts are classified within Level 2 of
the valuation hierarchy. |
The following tables present the financial instruments carried at fair value by caption on the
statements of net assets available for benefits and by category of the valuation hierarchy (as
described above). The Plan had no assets classified within Level 3 of the valuation hierarchy.
There were no reclassifications of assets between levels of the fair value hierarchy for the
periods presented.
Assets measured at fair value on a recurring basis:
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|
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December 31, 2010 |
|
Level 1 |
|
Level 2 |
|
Total |
|
|
|
Interest in registered investment companies (a) |
|
$ |
173,468,134 |
|
|
$ |
|
|
|
$ |
173,468,134 |
|
Interest in synthetic investment contracts (b) |
|
|
|
|
|
|
85,820,716 |
|
|
|
85,820,716 |
|
Corporate common stock (c) |
|
|
28,165,444 |
|
|
|
|
|
|
|
28,165,444 |
|
Interest-bearing cash and cash equivalents |
|
|
16,064,166 |
|
|
|
|
|
|
|
16,064,166 |
|
Interest in common collective trusts (d) |
|
|
|
|
|
|
2,303,779 |
|
|
|
2,303,779 |
|
|
|
|
Total assets at fair value |
|
$ |
217,697,744 |
|
|
$ |
88,124,495 |
|
|
$ |
305,822,239 |
|
|
|
|
|
|
|
a) |
|
This class includes approximately 37% U.S. equity funds, 10% non-U.S. equity funds, 13%
balanced funds, 31% target date funds, and 9% fixed income funds. |
|
b) |
|
This class includes approximately 23% government and government agency bonds, 22% corporate
bonds, 26% residential mortgage-backed securities, 11% commercial mortgage-backed securities,
4% short-term investments, and 14% asset-backed securities. |
|
c) |
|
Comprised of ATI common stock. |
|
d) |
|
This class includes approximately 100% fixed income funds. |
10
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
|
|
|
|
|
|
|
|
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|
|
|
December 31, 2009 |
|
Level 1 |
|
Level 2 |
|
Total |
|
|
|
Interest in registered investment companies (a) |
|
$ |
86,510,639 |
|
|
$ |
|
|
|
$ |
86,510,639 |
|
Interest in synthetic investment contracts (b) |
|
|
|
|
|
|
96,691,920 |
|
|
|
96,691,920 |
|
Corporate common stock (c) |
|
|
24,860,857 |
|
|
|
|
|
|
|
24,860,857 |
|
Interest-bearing cash and cash equivalents |
|
|
10,446,108 |
|
|
|
|
|
|
|
10,446,108 |
|
Interest in common collective trusts (d) |
|
|
|
|
|
|
58,703,216 |
|
|
|
58,703,216 |
|
|
|
|
Total assets at fair value |
|
$ |
121,817,604 |
|
|
$ |
155,395,136 |
|
|
$ |
277,212,740 |
|
|
|
|
|
|
|
a) |
|
This class includes approximately 43% U.S. equity funds, 19% non-U.S. equity funds, 25%
balanced funds, and 13% fixed income funds. |
|
b) |
|
This class includes approximately 13% government agency bonds, 19% corporate bonds, 28%
residential mortgage-backed securities, 14% commercial mortgage-backed securities, and 26%
asset-backed securities. |
|
c) |
|
Comprised of ATI common stock. |
|
d) |
|
This class includes approximately 70% target date funds, 24% U.S. equity funds, 2% non-U.S.
equity funds, and 4% fixed income funds. |
5. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service (IRS) dated August
4, 2003, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the
Code) and, therefore, the related trust is exempt from taxation. Subsequent to this issuance of the
determination letter, the Plan was amended. Once qualified, the Plan is required to operate in
conformity with the Code to maintain its qualification. The plan administrator believes that the
Plan is being operated in compliance with the applicable requirements of the Code and, therefore,
believes that the Plan, as amended, is qualified and the related trust is tax-exempt. The Plan was
most recently amended effective December 21, 2010 & March 31,
2011.
The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as
of December 31, 2010, there are no uncertain positions taken or expected to be taken. The earliest
tax year open to U.S. Federal examination is 2007.
11
Allegheny Technologies Retirement Savings Plan
Notes to Financial Statements (continued)
6. Plan Termination
Although it has not expressed any intent to do so, the employing companies have the right under the
Plan to discontinue their contributions at any time and to terminate their respective participation
in the Plan subject to the provisions of ERISA. However, no such action may deprive any
participant or beneficiary under the Plan of any vested right.
7. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various
risk such as interest rate, market, and credit risks. Due to the level of risk associated with
certain investment securities, it is at least reasonably possible that changes in the values of
investment securities will occur in the near term and that such changes could materially affect
participants account balances and the amounts reported in the statements of net assets available
for benefits.
If the Plan were deemed to be in violation of ERISA or lose its tax exempt status, among other
events, the issuers of the fully responsive investment contracts would have the ability to
terminate the contracts and settle at an amount different from contract value.
12
Allegheny Technologies Retirement Savings Plan
EIN: 25-1792394 Plan: 004
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)
December 31, 2010
|
|
|
|
|
Description |
|
Current Value |
|
|
Interest-bearing cash and cash equivalents |
|
|
|
|
EB Temporary Investment Fund of Bank of New York Mellon |
|
$ |
16,064,166 |
|
Adjustment from fair to book value |
|
|
(46,370 |
) |
|
|
|
|
|
|
$ |
16,017,796 |
|
|
|
|
|
|
|
|
|
|
Registered Investment Companies |
|
|
|
|
Alliance Bernstein Small Mid Cap Value Fund |
|
$ |
19,646,199 |
|
American Funds Europacific Growth Fund |
|
|
14,154,489 |
|
American Funds Growth Fund of America |
|
|
23,152,297 |
|
MFS Value Fund |
|
|
9,207,529 |
|
MSIF Small Company Growth Fund |
|
|
15,353,658 |
|
Vanguard Total Bond Index Fund |
|
|
10,982,741 |
|
Vanguard Inflation Protected Securities Fund |
|
|
4,678,003 |
|
Vanguard Target Retirement Income Fund |
|
|
1,922,180 |
|
Vanguard Target Retirement 2010 Fund |
|
|
2,224,990 |
|
Vanguard Target Retirement 2015 Fund |
|
|
8,749,942 |
|
Vanguard Target Retirement 2020 Fund |
|
|
13,717,699 |
|
Vanguard Target Retirement 2025 Fund |
|
|
9,889,627 |
|
Vanguard Target Retirement 2030 Fund |
|
|
7,497,011 |
|
Vanguard Target Retirement 2035 Fund |
|
|
3,694,872 |
|
Vanguard Target Retirement 2040 Fund |
|
|
1,970,170 |
|
Vanguard Target Retirement 2045 Fund |
|
|
2,819,282 |
|
Vanguard Target Retirement 2050 Fund |
|
|
1,107,772 |
|
Vanguard FTSE All-Word ex-US Index Fund |
|
|
1,719,657 |
|
Vanguard Institutional Index Fund |
|
|
16,010,060 |
|
Federated Money Market Fund |
|
|
267,690 |
|
|
|
|
|
|
|
|
168,765,868 |
|
|
|
|
|
|
Self-directed accounts |
|
|
|
|
American Century Equity Growth Fund |
|
|
44,439 |
|
Federated Kaufmann Fund Class K |
|
|
221,935 |
|
Gamco Growth Fund |
|
|
40,459 |
|
Janus Enterprise Fund |
|
|
81,206 |
|
Janus Global Technology Fund |
|
|
30,696 |
|
Janus Global Life Sciences Fund |
|
|
30,671 |
|
Janus Growth & Income Fund |
|
|
97,347 |
|
Janus Mercury Fund |
|
|
51,810 |
|
Janus Twenty Fund |
|
|
44,999 |
|
Janus Worldwide Fund |
|
|
59,985 |
|
Jensen Portfolio |
|
|
54,547 |
|
Oakmark Equity & Income Fund |
|
|
60,706 |
|
OTC Profund |
|
|
69,101 |
|
Vanguard Bond Index Fund |
|
|
106,357 |
|
AIM Global Health Care Fund |
|
|
70,781 |
|
Dreyfus Premier Technology |
|
|
55,618 |
|
13
Allegheny Technologies Retirement Savings Plan
EIN: 25-1792394 Plan: 004
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)
December 31, 2010
|
|
|
|
|
Description |
|
Current Value |
|
|
Fidelity Canada Fund |
|
|
51,997 |
|
Fidelity Spartan International Index Fund |
|
|
165,045 |
|
Fidelity Spartan 500 Index Fund |
|
|
185,688 |
|
Fidelity International Growth Fund |
|
|
84,307 |
|
Fidelity Leveraged Company Stock Fund |
|
|
82,109 |
|
Fidelity Nordic Countries |
|
|
42,146 |
|
Fidelity Select Software Fund |
|
|
62,054 |
|
Fidelity Select Technology Portfolio Fd |
|
|
46,265 |
|
Fidelity Small Cap Selector Fund |
|
|
46,243 |
|
Harbor International Fund |
|
|
33,768 |
|
Icon Materials Fund |
|
|
35,793 |
|
Janus Fund |
|
|
38,359 |
|
Janus Orion Fund |
|
|
191,245 |
|
Janus Mid Cap Value Fund |
|
|
33,180 |
|
Janus Strategic Value Fund |
|
|
67,074 |
|
Lazard Emerging Markets Portfolio |
|
|
48,289 |
|
Loomis Sayles Bond Fund |
|
|
70,651 |
|
Marsico Growth & Income Fund |
|
|
48,209 |
|
Pimco All Asset All Authority Fund |
|
|
59,005 |
|
Pimco Commodity Real Return Strategy Fund |
|
|
31,533 |
|
Pimco Total Return Fund |
|
|
40,355 |
|
RS Core Equity Fund |
|
|
32,262 |
|
Rydex Dynamic Tempest 50 |
|
|
38,452 |
|
Scout International Fund |
|
|
221,741 |
|
T. Rowe Price Latin America |
|
|
83,683 |
|
T. Rowe Price Science and Technology Fund |
|
|
52,677 |
|
Vanguard Small-Cap Value Index Fund |
|
|
100,470 |
|
Vanguard Special Energy Fund |
|
|
129,117 |
|
Vanguard Special Portfolio |
|
|
63,894 |
|
Vanguard Special Utility Index Fund |
|
|
120,652 |
|
Vanguard Wellington Fund |
|
|
77,873 |
|
Vanguard Windsor II Fund |
|
|
97,506 |
|
Wells Fargo Advantage |
|
|
130,135 |
|
All other self-directed investments under $30,000 |
|
|
969,898 |
|
Cash balance liability |
|
|
(66 |
) |
|
|
|
|
Total Self-Directed Accounts |
|
|
4,702,266 |
|
|
|
|
|
Total Registered Investment Companies |
|
$ |
173,468,134 |
|
|
|
|
|
|
|
|
|
|
Corporate Common Stock |
|
|
|
|
Allegheny Technologies Incorporated* |
|
$ |
28,165,444 |
|
|
|
|
|
|
Common Collective Trusts |
|
|
|
|
BNY Mellon Stable Value Fund |
|
$ |
2,303,779 |
|
Adjustment from fair to book value |
|
|
(40,934 |
) |
|
|
|
|
|
|
$ |
2,262,845 |
|
|
|
|
|
14
Allegheny Technologies Retirement Savings Plan
EIN: 25-1792394 Plan: 004
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)
December 31, 2010
|
|
|
|
|
Description |
|
Current Value |
|
|
Fixed Maturity Synthetic Contracts |
|
|
|
|
CMBS, BACM 2002-2 A3 |
|
$ |
902,305 |
|
CMBS, BACM 2005-3 A3A |
|
|
1,132,405 |
|
Freddie Mac, FHR 2760 EB |
|
|
205,086 |
|
Freddie Mac, FHR 2786 PC |
|
|
71,874 |
|
Freddie Mac, FHR 2865 PQ |
|
|
492,780 |
|
Freddie Mac, FHR 2866 XD |
|
|
430,447 |
|
Freddie Mac, FHR 2870 BD |
|
|
345,927 |
|
Freddie Mac, FHR 2888 OW |
|
|
273,451 |
|
GNMA Project Loans, GNR 06-51 A |
|
|
859,855 |
|
Auto Valet 2008-2 A3A |
|
|
829,433 |
|
Bank of America, N.A. Wrap contract |
|
|
(188,360 |
) |
|
|
|
|
Bank of America, N.A. Fixed Maturity Synthetic Contract 03-040 |
|
|
5,355,203 |
|
|
|
|
|
|
CMBS, CDCMT 2002-FX1D1 |
|
|
910,448 |
|
Rate Redu
Bonds, CNP 05-A A2 |
|
|
772,015 |
|
Freddie Mac, FHR 2631 LB |
|
|
101,622 |
|
Freddie Mac, FHR 2778 KR |
|
|
110,413 |
|
Freddie Mac, FHR 2981 NB |
|
|
26,142 |
|
Freddie Mac, FHR 2891 NB |
|
|
904,345 |
|
CMBS, MLMT 05-CIP1 A2 |
|
|
1,310,852 |
|
CMBS, MLMT 05-CKI1 A2 |
|
|
412,686 |
|
CMBS, CD05-CD1 A2 FX |
|
|
419,858 |
|
State Street Bank Wrap contract |
|
|
(126,992 |
) |
|
|
|
|
State Street Bank Fixed Maturity Synthetic Contract 105028 |
|
|
4,841,389 |
|
|
|
|
|
|
CMBS, BSCMS 05-T18 A2 |
|
|
408,111 |
|
Freddie Mac, FHR 2763 PC |
|
|
134,513 |
|
Freddie Mac, FHR 2921 NV |
|
|
347,189 |
|
Freddie Mac, FHR 2934 OC |
|
|
504,221 |
|
CMBS, JPMCC 05-LDP2 A2 |
|
|
97,492 |
|
Natixis Financial Products Wrap contract |
|
|
(26,943 |
) |
|
|
|
|
Natixis Financial Products Fixed Maturity Synthetic Contract #1245-01 |
|
|
1,464,583 |
|
|
|
|
|
Total Fixed Maturity Synthetic Contracts |
|
$ |
11,661,175 |
|
|
|
|
|
|
|
|
|
|
Variable Rate Synthetic Contracts |
|
|
|
|
Natixis Financial Products |
|
$ |
1,764,507 |
|
Natixis Wrap Contract |
|
|
(21,156 |
) |
|
|
|
|
Total Variable Rate Synthetic Contracts |
|
$ |
1,743,351 |
|
|
|
|
|
|
|
|
|
|
Constant Duration Synthetic Contracts |
|
|
|
|
BlackRock, 1-3 Year Government Bond Index Fund |
|
$ |
2,456,988 |
|
15
Allegheny Technologies Retirement Savings Plan
EIN: 25-1792394 Plan: 004
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)
December 31, 2010
|
|
|
|
|
Description |
|
Current Value |
|
|
BlackRock, 1-3 Year Credit Bond Index Fund |
|
|
4,346,525 |
|
BlackRock, Asset-Backed Sec Index Fund |
|
|
6,274,739 |
|
BlackRock, Comm Mortgage-Backed Sec Fund |
|
|
1,170,528 |
|
BlackRock, Int Term Credit Bond Index Fund |
|
|
5,134,722 |
|
BlackRock, Int Term Government Bond Index Fund |
|
|
2,280,987 |
|
BlackRock Global Investors, Long Term Government Bond Index Fund |
|
|
1,201,929 |
|
BlackRock, Mortgage-Backed Sec Index Fund |
|
|
5,795,702 |
|
Monumental Life Ins. Co. Wrap contract |
|
|
(856,019 |
) |
|
|
|
|
Monumental Life Ins. Co. Constant Duration Synthetic Contract MDA00413TR |
|
|
27,806,101 |
|
|
|
|
|
|
Prudential Core Conservative Intermediate Bond Fund |
|
|
27,957,168 |
|
Prudential Wrap Contract |
|
|
(842,132 |
) |
|
|
|
|
Prudential Constant Duration Synthetic Contract GA 62215 |
|
|
27,115,036 |
|
|
|
|
|
|
BlackRock, 1-3 Year Government Bond Index Fund |
|
|
1,322,994 |
|
BlackRock, 1-3 Year Credit Bond Index Fund |
|
|
2,340,438 |
|
BlackRock, Asset-Backed Sec Index Fund |
|
|
3,378,705 |
|
BlackRock, Comm Mortgage-Backed Sec Fund |
|
|
630,284 |
|
BlackRock, Int Term Credit Bond Index Fund |
|
|
2,764,850 |
|
BlackRock, Int Term Government Bond Index Fund |
|
|
1,228,224 |
|
BlackRock, Long Term Government Bond Index Fund |
|
|
647,193 |
|
BlackRock, Mortgage-Backed Sec Index Fund |
|
|
3,120,763 |
|
State Street Bank Wrap contract |
|
|
(460,572 |
) |
|
|
|
|
State Street Bank Constant Duration Synthetic Contract 107073 |
|
|
14,972,879 |
|
|
|
|
|
Total Constant Duration Synthetic Contracts |
|
$ |
69,894,016 |
|
|
|
|
|
|
|
|
|
|
Participant loans* (4.25% to 9.75%, with maturities through 2024) |
|
$ |
3,674,030 |
|
|
|
|
|
16
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the Plan
have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
|
|
|
|
|
|
|
|
|
ALLEGHENY TECHNOLOGIES INCORPORATED |
|
|
|
|
|
|
|
|
|
|
|
ALLEGHENY TECHNOLOGIES RETIREMENT SAVINGS PLAN |
|
|
|
|
|
|
|
|
|
Date:
June 28, 2011 |
|
By:
|
|
/s/ Karl D. Schwartz |
|
|
|
|
|
|
|
|
|
|
|
|
|
Karl D. Schwartz |
|
|
|
|
|
|
Controller and Principal Accounting
Officer |
|
|
|
|
|
|
(Principal Accounting Officer and Duly
Authorized Officer) |
|
|
17