UNITED STATES
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 fiscal year |
| ended December 31, 2010. |
OR
| ¨ | Transition Report pursuant to Section 15(d) of the Securities Exchange Act of 1934. |
Commission File Number 001-00395
| A. | Full title of the plan and the address of the plan, if different from that of the issuer named below: |
NCR Savings Plan
| B. | Name and issuer of the securities held pursuant to the plan and the address of its principal executive office: |
NCR Corporation
3097 Satellite Boulevard, Duluth Georgia 30096
NCR Savings Plan
December 31, 2010 and 2009
| Page(s) | ||||
| 1 | ||||
| Financial Statements: |
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| 2 | ||||
| 3 | ||||
| 4-14 | ||||
| Supplemental Schedule: |
||||
| Schedule H, Line 4i - Schedule of Assets (Held At End of Year)* |
15-23 | |||
| * | Other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable. |
Report of Independent Registered Public Accounting Firm
To the Participants and
Administrator of the NCR Savings Plan
In our opinion, the accompanying Statements of Net Assets Available for Benefits and the related Statement of Changes in Net Assets Available for Benefits present fairly, in all material respects, the net assets available for benefits of the NCR Savings Plan (the “Plan”) at December 31, 2010 and December 31, 2009, and the changes in net assets available for benefits for the year ended December 31, 2010 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the 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, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.
/s/ PricewaterhouseCoopers LLP
Atlanta, Georgia
June 28, 2011
Statements of Net Assets Available for Benefits
December 31, 2010 and 2009
| December 31, | ||||||||
| 2010 | 2009 | |||||||
| Assets |
||||||||
| Investments at fair value |
$ | 1,145,374,530 | $ | 1,116,962,216 | ||||
| Contributions receivable: |
||||||||
| Participants |
830,071 | 532,702 | ||||||
| Employer |
196,065 | 120,618 | ||||||
| Notes receivables from participants |
11,686,793 | 11,342,296 | ||||||
| Due from broker for securities sold |
814,593 | 1,536,729 | ||||||
| Total assets |
1,158,902,052 | 1,130,494,561 | ||||||
| Liabilities |
||||||||
| Due to broker for securities purchased |
1,210,190 | 1,231,643 | ||||||
| Accrued expenses |
402,186 | 186,454 | ||||||
| Total liabilities |
1,612,376 | 1,418,097 | ||||||
| Net assets available for benefits |
$ | 1,157,289,676 | $ | 1,129,076,464 | ||||
The accompanying notes are an integral part of these financial statements.
2
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2010
| Year Ended | ||||
| December 31, 2010 | ||||
| Investment income: |
||||
| Net appreciation in fair value of investments |
$ | 126,930,159 | ||
| Dividends |
9,209,750 | |||
| Interest on notes receivables from participants |
656,389 | |||
| Total investment income |
136,796,298 | |||
| Contributions: |
||||
| Participant |
33,252,599 | |||
| Employer, net of forfeitures |
6,684,328 | |||
| Total contributions |
39,936,927 | |||
| Deductions |
||||
| Benefits paid to participants |
149,298,310 | |||
| Administrative expenses |
907,040 | |||
| Total deductions |
150,205,350 | |||
| Net increase before merger of other plans |
26,527,875 | |||
| Transfers in |
||||
| Merger of assets from other plans (Note 6) |
1,685,337 | |||
| Net increase |
28,213,212 | |||
| Net assets available for benefits |
||||
| Beginning of year |
1,129,076,464 | |||
| End of year |
$ | 1,157,289,676 | ||
The accompanying notes are an integral part of these financial statements.
3
Notes to Financial Statements
Year Ended December 31, 2010
| 1. | Description of the Plan |
General
The NCR Savings Plan (the “Plan”) is a defined contribution plan established on May 1, 1985 by NCR Corporation (“NCR”, “Employer”, or the “Company”) to give the Company’s employees more control over, and participation in, the accumulation of capital for their retirement.
The Plan is designed to qualify as a profit-sharing plan with a qualified cash or deferred arrangement under Section 401(k) of the Internal Revenue Code of 1986, as amended. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
The Plan covers substantially all U.S. employees of the Company (other than certain categories of part-time, temporary and intern employees) and its domestic subsidiaries, except for employees covered by a collective bargaining agreement.
The terms of the Plan described below are applicable to the majority of participants. A small portion of participants are in sub-plan groups due to the merger of legacy 401(k) plans into the Plan. While terms of participants in the sub-plan groups may vary slightly from the terms described below, the sub-plan group participants have substantially the same benefits and requirements of the other Plan participants.
Contributions and Funding
All eligible employees of the Company may defer a portion of their compensation by making tax-deferred contributions, as well as after-tax contributions, to the Plan. Participants may elect to contribute up to twenty percent of their eligible compensation. The maximum contribution percentage limits vary based upon the participant’s base salary. Annual tax-deferred contributions per participant for the 2010 Plan year were limited to $16,500.
NCR matches employee contributions by contributing 50 cents for each dollar contributed, up to the first 4% of eligible pay.
Effective June 1, 2002, the Plan was amended in accordance with the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) to allow employees aged 50 and older to elect to make an additional $1,000 catch-up contribution during the 2002 plan year. Catch-up contribution amounts are not eligible for Employer matching contributions and increased by $1,000 each year through 2006. After 2006, the catch-up contribution adjusted for inflation in $500 increments. The maximum catch-up contribution for 2010 was $5,500.
Participants direct their contributions, as well as the Company’s matching contributions, among various investment strategies, as well as mutual funds, market index funds and the NCR Unitized Stock Fund, which invests primarily in NCR Common Stock. The investment strategies are comprised of a combination of mutual funds, separately managed accounts and common/collective trusts and are managed to derive returns subject to the associated risk tolerance. The Mutual Fund Window Investments consists of mutual funds (more than 300) which offer a broad range of investment objectives (ranging from conservative to very aggressive and domestic to international) in which participants elect to contribute.
Vesting and Forfeitures
Participants are immediately vested in their contributions plus actual earnings thereon. Company matching contributions vest in increments of one-fifth each year, over a five-year period beginning
4
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
on the participant’s hire date. Participants are fully vested in their account balance after five years of service.
Participants become immediately and fully vested in their account (i) upon attainment of age 65, (ii) upon retirement, (iii) upon termination of employment due to a “reduction in force,” (iv) in the event of death, or (v) in the event of total and permanent disability. Upon termination of employment, participants are entitled to full distribution of their contributions and all vested Company matching contributions; all non-vested Company matching contributions are forfeited. These forfeitures are reallocated and used to reduce future Company matching contributions. During 2010, forfeitures used to offset Company matching contributions were $819,800 and as of December 31, 2010, $2,129,417 in forfeitures were available to reduce future employer’s contributions.
Participant Accounts
Each participant’s account is credited with the participant’s contributions, and an allocation of Company contributions and Plan earnings. Participants’ accounts are valued on a daily basis. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balance.
Participants may withdraw any employee tax-deferred contributions during their employment in the case of a “hardship” (as defined by the Plan), and participants may withdraw after-tax employee contributions for any reason. The participants may not withdraw any Company matching contributions or any earnings on Company matching or employee contributions until they terminate employment with the Company.
Notes Receivable from Participants
Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to $50,000 or 50 percent of their account balance, whichever is less. The loans are collateralized by the balance in the participant’s accounts and bear interest at a fixed rate based on the prime rate (as reported by the Wall Street Journal) in effect on the twentieth business day of the month prior to the month of the transaction. Generally, the term of the loan may be between one and five years. However, there are certain loans which were merged into the Plan and have a maximum term of ten years. Principal and interest is paid ratably through monthly payroll deductions. Upon default, participants are considered to have received a distribution and are subject to income taxes on the distribution amount. Loans at December 31, 2010 bear interest at rates ranging from 4.25% to 10.50% and are due at various dates through April 12, 2019. Loans are repaid through payroll deductions.
Withdrawals and Benefits
Participants may withdraw vested balances upon reaching the age of 59 and a half, or upon a participant’s termination or disability. A participant’s beneficiary shall be eligible to receive a distribution of the participant’s account upon death of the participant. Hardship withdrawals, as defined by the Plan, may be made from all contributions at any time subject to approval by the Plan’s Administrator. On termination of service, a participant receives a lump-sum amount equal to the value of the vested portion of their account if it is less than $1,000. Termination participants with more than $1,000 in vested benefits may elect to receive a lump-sum payment, quarterly installment payments, or leave the vested benefits within the plan until reaching the above noted retirement age, death and/or disability.
Termination of the Plan
The Company currently has no plans to terminate the Plan; however, the Company reserves the right to terminate the Plan at any time by action of the Board of Directors. No amendment or termination of the Plan may adversely affect a participant’s accrued benefits on the date of the amendment or termination. No amendment may change the requirement that the assets of the
5
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
NCR Savings Plan Trust (the “Trust”) must be used for the exclusive benefit of the participants, the former participants and the beneficiaries.
Upon termination of the Plan, the Company may, at its option, continue the Trust in existence or cause the Trust to be liquidated. If the Trust is liquidated, distributions will be made to the various participants, former participants and beneficiaries in a single lump sum promptly after liquidation is effective. If the Trust is not liquidated, distributions will be made to the various participants when they cease employment. For a complete description of the Plan, participants should refer to the Plan Document.
| 2. | Summary of Significant Accounting Policies |
Basis of Accounting
The financial statements of the Plan are prepared under the accrual basis of accounting.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and changes therein. Actual results could differ from those estimates.
Risk and Uncertainties
The Plan provides for various investment options in several investment securities and instruments. Investment securities are exposed to various risks, 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 risks in the near term could continue to materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits.
Investment Valuation and Income Recognition
The Plan’s investments are stated at fair value. Investments in money market funds are short term investments comprised of various marketable instruments with maturities ranging from one to ninety days. The underlying securities in these funds are quoted in active markets. Investments in mutual funds are valued at the net asset value (NAV) of shares held by the Plan at year end based on quoted prices in active markets. Investments in collective trusts include various index funds. The fair values of the Plan’s interest in the index funds are based on the net asset values (NAVs) reported by the fund managers as of the financial statement dates and recent transaction prices. The index funds provide for daily redemptions by the Plan at reported NAVs with no advance notice requirement. Under unusual circumstances redemptions may be suspended should the withdrawal cause a material adverse impact on other participating plans. Fair values for these investments within the index funds are based on quoted prices in active markets and securities valued using either observable inputs or quotations from inactive markets. Common Stock is valued at the closing price reported on the active market on which the security is traded.
Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. Interest is recorded on an accrual basis.
The Plan presents in its Statement of Changes in Net Assets Available for Benefits the net appreciation in fair value of investments, which consists of the realized gains and losses as well as the unrealized appreciation on those investments.
Notes Receivable from participants
Notes Receivable from participants are valued at their outstanding balances, plus accrued but unpaid interest.
Due to and from broker for securities purchased and sold
Items represented in other receivables and accounts payable are primarily pending security settlements.
6
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
Plan Expenses
All initial and ongoing administrative costs of the Plan are paid by the Company, except for a $50 participant loan application fee. Brokerage fees and commissions are included in the cost of investments when purchased and in determining the net proceeds on sales of investments. Investment management fees are paid from the respective assets of the investment option.
Payments to Withdrawing Participants
The Plan records payments to withdrawing participants at the time of disbursement.
Rollover Contributions
Participant rollover contributions from other defined contribution plans are included as participant contributions in the Statement of Changes in Net Assets Available for Benefits.
7
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
New Accounting Standards
In 2010, the FASB issued ASU No. 2010-06 which amends Fair Value Measurements and Disclosures – Overall (ASC Topic 820-10). This update requires a gross presentation of activities within the Level 3 rollforward and adds a new requirement to disclose transfers in and out of Level 1 and 2 measurements. The update further clarifies the existing disclosure requirements in ASC 820-10 regarding: i) the level of disaggregation of fair value measurements; and ii) the disclosures regarding inputs and valuation techniques. This update was effective for our fiscal year beginning January 1, 2010 except for the gross presentation of the Level 3 transfers in and transfer out information, was effective as of the 2009 plan year. The effect on the financial statements was not material. The principal impact from this update is expanded disclosures regarding our fair value measurements and is not expected to be material.
In September 2010, the FASB issued ASU No. 2010-25, Reporting Loans to Participants by Defined Contribution Pension Plans (ASC 962). This ASU requires participant loans to be classified as notes receivable from participants, which are segregated from plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest. The guidance is effective for fiscal years ending after December 15, 2010, with early adoption permitted. The guidance should be applied retrospectively to all periods presented. The Plan adopted this guidance as of January 1, 2010, and reclassified participant loans from plan investments to a component of receivables for both periods presented in the Statements of Net Assets Available for Benefits. Other than the reclassification requirements, the adoption of this standard did not have a material impact on the Plan’s financial statements.
In May 2011, the FASB issued ASU 2011-04 Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. ASU 2011-4 is intended to improve the comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with U.S. GAAP and IFRS. The amendments are of two types: (i) those that clarify the Board’s intent about the application of existing fair value measurement and disclosure requirements and (ii) those that change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The update is effective for annual periods beginning after December 15, 2011. Plan management is in the process of evaluating the impact of the adoption of this update on the Plan’s financial statements.
| 3. | Investments |
The following presents investments that represent five percent or more of the Plan’s net assets:
8
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
| December 31, | ||||||||
| 2010 | 2009 | |||||||
| NTGI - QM Collective Daily Aggregate Bond Index Fund, 338,751 and 365,890 shares, respectively |
$ | 145,665,311 | $ | 147,589,805 | ||||
| Pyramis Select International Equity Fund 568,808 and 601,813 shares, respectively |
$ | 71,186,305 | $ | 68,657,155 | ||||
| NTGI - QM Collective Daily S & P 500 Equity Index Fund, 21,115 and 23,873 shares, respectively |
$ | 78,084,435 | $ | 76,717,356 | ||||
The Plan’s assets were also invested in Fidelity Mutual Fund Window investments, the fair value of which was $598,920,336 and $581,374,512 at December 31, 2010 and 2009, respectively. Within the Fidelity Mutual Fund Window, the aggregate fair values of the following investment funds represent five percent or more of the plan’s net assets:
| December 31, | ||||||||
| 2010 | 2009 | |||||||
| Fidelity Retirement Money Market Fund |
$ | 57,994,555 | $ | 64,609,270 | ||||
During 2010, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value by $126,930,159 as follows:
| Year Ended | ||||
| December 31, 2010 | ||||
| Mutual funds |
$ | 56,095,911 | ||
| Managed accounts common stock |
19,296,041 | |||
| Common collective trust funds |
42,151,379 | |||
| Employer common stock |
9,386,828 | |||
| $ | 126,930,159 | |||
Fair Value Measurements
“Fair Value Measurements,” ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below:
Basis of Fair Value Measurement
9
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
| Level 1 |
Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |
| Level 2 |
Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly; | |
| Level 3 |
Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. | |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
10
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
The following table sets forth by level within the fair value hierarchy the Plan’s investment assets and investment liabilities at fair value, as of December 31, 2010. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
The underlying securities of money market funds are quoted in active markets using observable inputs, and as a result are classified as Level 2 investments within the fair value hierarchy table below. Mutual funds are valued at the net asset value (NAV) of shares held by the Plan at year end based on quoted prices in active markets, and as such are classified as Level 1 investments within the fair value hierarchy table below. Fair values for collective trusts are based on quoted prices in active markets and securities valued using either observable inputs or quotations from inactive markets, and as a result the investment is classified as a Level 2 asset in the fair value hierarchy. Investments in common stock are valued at the closing price reported on the active market and are classified as Level 1 investments within the fair value hierarchy table below.
| Investment Assets at Fair Value as of December 31, 2010 | ||||||||||||
| Level 1 | Level 2 | Total | ||||||||||
| Money market fund |
$ | — | $ | 1,034,457 | $ | 1,034,457 | ||||||
| Mutual funds |
598,920,336 | — | 598,920,336 | |||||||||
| Collective trusts - Equity |
— | 235,990,835 | 235,990,835 | |||||||||
| Collective trusts - Bonds |
— | 145,665,311 | 145,665,311 | |||||||||
| Common stocks: |
— | — | — | |||||||||
| Automobiles & components |
3,637,611 | — | 3,637,611 | |||||||||
| Banks |
8,944,494 | — | 8,944,494 | |||||||||
| Capital goods |
10,454,029 | — | 10,454,029 | |||||||||
| Commercial services & supplies |
3,328,968 | — | 3,328,968 | |||||||||
| Consumer durables & apparel |
4,717,731 | — | 4,717,731 | |||||||||
| Diversified financials |
11,898,960 | — | 11,898,960 | |||||||||
| Energy |
11,674,728 | — | 11,674,728 | |||||||||
| Food & staples retailing |
928,995 | — | 928,995 | |||||||||
| Food beverage & tobacco |
2,636,510 | — | 2,636,510 | |||||||||
| Health care equipment & services |
6,561,587 | — | 6,561,587 | |||||||||
| Hotels restaurants & leisure |
3,243,111 | — | 3,243,111 | |||||||||
| Household & personal products |
290,966 | — | 290,966 | |||||||||
| Insurance |
5,145,877 | — | 5,145,877 | |||||||||
| Materials |
8,122,307 | — | 8,122,307 | |||||||||
| Media |
2,104,950 | — | 2,104,950 | |||||||||
| Other |
1,406,962 | — | 1,406,962 | |||||||||
| Pharmaceuticals |
6,353,030 | — | 6,353,030 | |||||||||
| Real estate |
3,033,249 | — | 3,033,249 | |||||||||
| Retailling |
4,026,437 | — | 4,026,437 | |||||||||
| Semiconductors |
6,854,865 | — | 6,854,865 | |||||||||
| Software & services |
9,010,974 | — | 9,010,974 | |||||||||
| Technology, hardware & equipment |
8,456,589 | — | 8,456,589 | |||||||||
| Telecommunication services |
624,482 | — | 624,482 | |||||||||
| Transportation |
4,372,615 | — | 4,372,615 | |||||||||
| Utilities |
4,325,897 | — | 4,325,897 | |||||||||
| Total common stocks |
132,155,924 | — | 132,155,924 | |||||||||
| Employer common stock |
31,607,667 | — | 31,607,667 | |||||||||
| Total investment assets at fair value |
$ | 762,683,927 | $ | 382,690,603 | $ | 1,145,374,530 | ||||||
There were no transfers of investment assets between Level 1 and 2 of the fair value hierarchy during the year ended December 31, 2010.
11
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
The following table sets forth by level within the fair value hierarchy the Plan’s investment assets and investment liabilities at fair value, as of December 31, 2009. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
The underlying securities of money market funds are quoted in active markets using observable inputs, and as a result are classified as Level 2 investments within the fair value hierarchy table below. Mutual funds are valued at the net asset value (NAV) of shares held by the Plan at year end based on quoted prices in active markets, and as such are classified as Level 1 investments within the fair value hierarchy table below. Fair values for collective trusts are based on quoted prices in active markets and securities valued using either observable inputs or quotations from inactive markets, and as a result the investment is classified as a Level 2 asset in the fair value hierarchy. Investments in common stock are valued at the closing price reported on the active market and are classified as Level 1 investments within the fair value hierarchy table below.
| Investment Assets at Fair Value as of December 31, 2009 | ||||||||||||
| Level 1 | Level 2 | Total | ||||||||||
| Money market fund |
$ | — | $ | 1,601,230 | $ | 1,601,230 | ||||||
| Mutual funds |
581,374,512 | — | 581,374,512 | |||||||||
| Collective trusts - Equity |
— | 230,877,182 | 230,877,182 | |||||||||
| Collective trusts - Bonds |
— | 147,589,805 | 147,589,805 | |||||||||
| Common stocks: |
||||||||||||
| Automobiles & components |
2,403,477 | — | 2,403,477 | |||||||||
| Banks |
6,461,626 | — | 6,461,626 | |||||||||
| Capital goods |
8,062,312 | — | 8,062,312 | |||||||||
| Commercial services & supplies |
3,088,520 | — | 3,088,520 | |||||||||
| Consumer durables & apparel |
5,278,592 | — | 5,278,592 | |||||||||
| Diversified financials |
10,145,936 | — | 10,145,936 | |||||||||
| Energy |
8,082,157 | — | 8,082,157 | |||||||||
| Food & staples retailing |
410,528 | — | 410,528 | |||||||||
| Food beverage & tobacco |
2,227,573 | — | 2,227,573 | |||||||||
| Health care equipment & services |
7,867,833 | — | 7,867,833 | |||||||||
| Hotels restaurants & leisure |
4,979,495 | — | 4,979,495 | |||||||||
| Household & personal products |
987,075 | — | 987,075 | |||||||||
| Insurance |
6,174,847 | — | 6,174,847 | |||||||||
| Materials |
7,730,772 | — | 7,730,772 | |||||||||
| Media |
2,100,987 | — | 2,100,987 | |||||||||
| Other |
3,071,447 | — | 3,071,447 | |||||||||
| Pharmaceuticals |
6,024,083 | — | 6,024,083 | |||||||||
| Real estate |
2,836,404 | — | 2,836,404 | |||||||||
| Retailling |
6,116,329 | — | 6,116,329 | |||||||||
| Semiconductors |
6,402,104 | — | 6,402,104 | |||||||||
| Software & services |
11,228,282 | — | 11,228,282 | |||||||||
| Technology, hardware & equipment |
7,976,093 | — | 7,976,093 | |||||||||
| Telecommunication services |
513,262 | — | 513,262 | |||||||||
| Transportation |
4,136,378 | — | 4,136,378 | |||||||||
| Utilities |
5,278,394 | — | 5,278,394 | |||||||||
| Total common stocks |
129,584,506 | — | 129,584,506 | |||||||||
| Employer common stock |
25,848,445 | — | 25,848,445 | |||||||||
| Convertible securities |
— | 86,536 | 86,536 | |||||||||
| Total investment assets at fair value |
$ | 736,807,463 | $ | 380,154,753 | $ | 1,116,962,216 | ||||||
Fair Value Measurements of the Investments In Certain Entities that Calculate Net Asset Value per Share
These categories represent investments in common collective trusts investing in domestic equity, international equity and fixed income as noted. Its investments are valued at Net Asset Value
12
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
(NAV). All the common collective trust funds have daily liquidity and are not subject to any redemption restrictions at the measurement date. The funds have different trading terms varying from one to three days.
| 4. | Related Party Transactions |
Related party transactions during the year consisted of loans made to participants and investments in NCR Corporation common stock along with investments in funds offered by Pyramis Global Advisors (“Pyramis”), a wholly owned subsidiary of Fidelity Management and Research Company, and by other affiliates of the Plan trustee, Fidelity Management Trust Company. The Plan’s primary investment manager is Fidelity Investments (“Fidelity”). An affiliate of Fidelity serves as the record keeper for the Plan’s participant data. Another affiliate of Fidelity serves as the trustee of the Plan. The cash receipts and cash disbursements from these investments constitute related party transactions. Related party cash receipts and cash disbursements of the Plan for the Fidelity managed funds totaled $336,434,267 and $333,886,447, respectively, for the year ended December 31, 2010. Purchases and sales of investments managed by Pyramis during the year ended December 31, 2010 totaled $16,341,786 and $27,653,552, respectively. The Company also provides certain administrative, accounting and recordkeeping services to the Plan for which it is not compensated. None of these related party transactions are prohibited transactions as defined under ERISA.
| 5. | Tax Status |
The Company received its latest favorable determination letter, dated January 9, 2004, from the Internal Revenue Service (IRS) as to the qualified status of the Plan under Section 401(a) of the Internal Revenue Code (the Code). The Plan has been amended since the determination was made. However the Plan Administrator and the Plan’s tax counsel believe this Plan is currently designed and being operated in accordance with applicable sections of the Code and the related Trust is exempt from federal income taxes under Section 501(a) of the Code. Accordingly, income taxes are not provided for in the accompanying financial statements. Participant contributions, except for those contributions which participants elect to be tax-deferred under Section 401(k), are taxable to the participants in the year their contributions are made.
Participants are liable for federal income taxes relative to their Section 401(k) contributions, the Company matching contributions and the earnings of the Plan when the contributions are distributed to them.
Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the plan and recognize a tax liability (or asset) if the organization 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, 2010, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or 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 examinations for years prior to 2008.
| 6. | Plan Merger |
Effective December 31, 2010, Kinetics Retirement Plan and Galvanon Retirement Plan, both NCR Company Retirement Plans, merged into the plan and ceased to exist. The net assets of the
13
NCR Savings Plan
Notes to Financial Statements
Year Ended December 31, 2010
Kinetics Retirement Plan, with total investments of $1,445,793, and Galvanon Retirement Plan, with total investments of $239,544 transferred into the Plan on December 31, 2010.
| 7. | Subsequent Events |
The Plan Administrator has evaluated subsequent events since the date of these financial statements. There were no events or transactions discovered during this evaluation that require recognition or disclosure in the financial statements.
14
NCR Savings Plan
Supplemental Schedule
15
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| * |
PYRAMIS AGGRESSIVE EQUITY FUND | Common Collective Trust Fund | $ | 40,762,741 | ||||||||
| * |
PYRAMIS SELECT INTERNATIONAL EQUITY FUND | Common Collective Trust Fund | 71,186,305 | |||||||||
| NTGI-QM COLLECTIVE DAILY AGGREGATE BOND INDEX FUN | Common Collective Trust Fund | 145,665,311 | ||||||||||
| NTGI-QM COLLECTIVE DAILY EAFE INDEX FUND | Common Collective Trust Fund | 15,858,413 | ||||||||||
| NTGI-QM COLLECTIVE DAILY RUSSELL 2000 INDEX FUND | Common Collective Trust Fund | 30,098,941 | ||||||||||
| NTGI-QM COLLECTIVE DAILY S&P 500 EQUITY INDEX FUND | Common Collective Trust Fund | 78,084,435 | ||||||||||
| 381,656,146 | ||||||||||||
| * |
NCR Common Stock | COMMON STOCKS | 31,607,667 | |||||||||
| A P MOLLER - MAERSK S/A B | COMMON STOCKS | 443,913 | ||||||||||
| ABAXIS INC | COMMON STOCKS | 336,618 | ||||||||||
| ACCO BRANDS CORP | COMMON STOCKS | 129,504 | ||||||||||
| ACME PACKET INC | COMMON STOCKS | 235,127 | ||||||||||
| ADARO ENERGY PT | COMMON STOCKS | 236,321 | ||||||||||
| AERCAP HOLDINGS NV | COMMON STOCKS | 953,368 | ||||||||||
| AES CORP | COMMON STOCKS | 2,903,712 | ||||||||||
| AETNA INC | COMMON STOCKS | 890,892 | ||||||||||
| AFLAC INC | COMMON STOCKS | 1,128,600 | ||||||||||
| AGRIUM INC | COMMON STOCKS | 532,150 | ||||||||||
| AIA GROUP LTD | COMMON STOCKS | 251,883 | ||||||||||
| ALIGN TECHNOLOGY INC | COMMON STOCKS | 556,910 | ||||||||||
| ALLEGIANT TRAVEL CO | COMMON STOCKS | 243,738 | ||||||||||
| ALLIED WRLD ASSURNCE HLDGS LTD | COMMON STOCKS | 184,264 | ||||||||||
| ALON USA ENERGY INC | COMMON STOCKS | 53,820 | ||||||||||
| AMAZON.COM INC | COMMON STOCKS | 942,300 | ||||||||||
| AMERICA MOVIL SPON ADR SER L | COMMON STOCKS | 141,056 | ||||||||||
| AMERICAN EXPRESS CO | COMMON STOCKS | 836,940 | ||||||||||
| AMERICAN FINL GROUP INC OHIO | COMMON STOCKS | 313,213 | ||||||||||
| AMERICAN GREETINGS CORP CL A | COMMON STOCKS | 334,616 | ||||||||||
| AMERICAN PUBLIC EDUCATION INC | COMMON STOCKS | 768,373 | ||||||||||
| AMGEN INC | COMMON STOCKS | 179,798 | ||||||||||
| AMKOR TECHNOLOGY INC | COMMON STOCKS | 285,254 | ||||||||||
| AMPCO-PITTSBURG CORP | COMMON STOCKS | 249,645 | ||||||||||
| ANCESTRY.COM INC | COMMON STOCKS | 321,432 | ||||||||||
| ANTOFAGASTA PLC | COMMON STOCKS | 345,656 | ||||||||||
| ANWORTH MTG ASSET CORP | COMMON STOCKS | 129,500 | ||||||||||
| APOGEE ENTERPRISES INC | COMMON STOCKS | 152,211 | ||||||||||
| ARCTIC CAT INC | COMMON STOCKS | 150,792 | ||||||||||
| ARM HOLDINGS PLC | COMMON STOCKS | 268,021 | ||||||||||
| ASHFORD HOSPITALITY TR INC | COMMON STOCKS | 246,075 | ||||||||||
| ASPEN INSURANCE HLDGS LTD | COMMON STOCKS | 171,720 | ||||||||||
| ASSOCIATED BANC CORP | COMMON STOCKS | 195,435 | ||||||||||
| ASTRA INTL TBK PT (DEMAT) | COMMON STOCKS | 233,094 | ||||||||||
| ATHEROS COMMUNICATIONS INC | COMMON STOCKS | 1,055,868 | ||||||||||
| ATWOOD OCEANICS INC | COMMON STOCKS | 325,119 | ||||||||||
| AVISTA CORP | COMMON STOCKS | 308,524 | ||||||||||
| AXIS BANK(UBS AG) CWT 4/22/13 | COMMON STOCKS | 392,559 | ||||||||||
| BAIDU INC SPON ADR | COMMON STOCKS | 522,227 | ||||||||||
16
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| BANCO LATINOAMERICANO COME-E | COMMON STOCKS | 311,974 | ||||||||||
| BANCOLOMBIA SA SPON ADR | COMMON STOCKS | 246,402 | ||||||||||
| BANK OF AMERICA CORPORATION | COMMON STOCKS | 1,052,526 | ||||||||||
| BANK RAKYAT INDONESIA TBK PT | COMMON STOCKS | 215,594 | ||||||||||
| BARRICK GOLD CORP | COMMON STOCKS | 558,390 | ||||||||||
| BASF SE | COMMON STOCKS | 476,519 | ||||||||||
| BEBIDAS DAS AM(CIA) PFD SP ADR | COMMON STOCKS | 263,755 | ||||||||||
| BEKAERT SA | COMMON STOCKS | 289,073 | ||||||||||
| BENCHMARK ELECTRONICS INC | COMMON STOCKS | 259,688 | ||||||||||
| BEST BUY CO INC | COMMON STOCKS | 682,371 | ||||||||||
| BHP BILLITON PLC | COMMON STOCKS | 519,900 | ||||||||||
| BIG LOTS INC | COMMON STOCKS | 161,438 | ||||||||||
| BLACK BOX CORPORATION | COMMON STOCKS | 248,885 | ||||||||||
| BLACKROCK INC | COMMON STOCKS | 328,751 | ||||||||||
| BLYTH INC | COMMON STOCKS | 86,200 | ||||||||||
| BMW AG (BAYER MTR WKS) (GERW) | COMMON STOCKS | 241,162 | ||||||||||
| BOB EVANS FARMS INC | COMMON STOCKS | 296,640 | ||||||||||
| BP PLC SPON ADR | COMMON STOCKS | 1,100,937 | ||||||||||
| BRANDYWINE REALTY TRUST | COMMON STOCKS | 299,405 | ||||||||||
| BRIGHTPOINT INC | COMMON STOCKS | 115,236 | ||||||||||
| BUFFALO WILD WINGS INC | COMMON STOCKS | 259,285 | ||||||||||
| C T S CORP | COMMON STOCKS | 193,550 | ||||||||||
| CABELAS INC | COMMON STOCKS | 167,475 | ||||||||||
| CABELAS INC | COMMON STOCKS | 299,606 | ||||||||||
| CAIRN ENERGY PLC | COMMON STOCKS | 296,441 | ||||||||||
| CALAMOS ASSET MGMT INC CL A | COMMON STOCKS | 155,400 | ||||||||||
| CAL-MAINE FOODS INC | COMMON STOCKS | 126,320 | ||||||||||
| CANADIAN IMP BK OF COMMERCE | COMMON STOCKS | 259,189 | ||||||||||
| CANADIAN NATL RAILWAY CO | COMMON STOCKS | 339,301 | ||||||||||
| CANADIAN NATL RESOURCES LTD | COMMON STOCKS | 689,286 | ||||||||||
| CANON INC | COMMON STOCKS | 279,924 | ||||||||||
| CAPITAL ONE FINANCIAL CORP | COMMON STOCKS | 1,002,288 | ||||||||||
| CAPSTEAD MORTGAGE CORP | COMMON STOCKS | 182,555 | ||||||||||
| CARDIOME PHARMA CORP | COMMON STOCKS | 345,576 | ||||||||||
| CATO CORP CL A | COMMON STOCKS | 156,237 | ||||||||||
| CBL & ASSOCIATES PPTYS INC | COMMON STOCKS | 388,500 | ||||||||||
| CELADON GRP INC | COMMON STOCKS | 356,202 | ||||||||||
| CHICAGO BRIDGE & IRON (NY REG) | COMMON STOCKS | 274,715 | ||||||||||
| CHINA CONSTRUCTION BANK CORP H | COMMON STOCKS | 122,819 | ||||||||||
| CHIQUITA BRANDS INTL INC | COMMON STOCKS | 182,260 | ||||||||||
| CIBER INC | COMMON STOCKS | 114,660 | ||||||||||
| CIENA CORP | COMMON STOCKS | 555,720 | ||||||||||
| CIMB GROUP HOLDINGS BERHAD | COMMON STOCKS | 302,124 | ||||||||||
| CINCINNATI BELL INC | COMMON STOCKS | 163,240 | ||||||||||
| CISCO SYSTEMS INC | COMMON STOCKS | 1,087,868 | ||||||||||
| CITIGROUP INC | COMMON STOCKS | 1,268,586 | ||||||||||
| CITY HOLDING CO | COMMON STOCKS | 155,789 | ||||||||||
| CNOOC LTD | COMMON STOCKS | 775,797 | ||||||||||
17
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| COMMONWEALTH REIT | COMMON STOCKS | 331,630 | ||||||||||
| COMMVAULT SYSTEMS INC | COMMON STOCKS | 261,673 | ||||||||||
| COMSTOCK RESOURCES INC NEW | COMMON STOCKS | 1,024,864 | ||||||||||
| CONOCOPHILLIPS | COMMON STOCKS | 1,147,485 | ||||||||||
| CONSOLIDATED GRAPHICS INC | COMMON STOCKS | 261,522 | ||||||||||
| CONSTANT CONTACT INC | COMMON STOCKS | 659,219 | ||||||||||
| CONVERGYS CORP | COMMON STOCKS | 409,587 | ||||||||||
| COOPER TIRE & RUBBER COMPANY | COMMON STOCKS | 287,676 | ||||||||||
| COPA HOLDINGS SA CL A | COMMON STOCKS | 510,143 | ||||||||||
| CORN PRODUCTS INTL INC | COMMON STOCKS | 179,400 | ||||||||||
| CORPORATE EXECUTIVE BRD CO | COMMON STOCKS | 325,821 | ||||||||||
| CRANE CO | COMMON STOCKS | 357,309 | ||||||||||
| CREDICORP LTD (USA) | COMMON STOCKS | 317,490 | ||||||||||
| CROCS INC | COMMON STOCKS | 435,276 | ||||||||||
| CSG SYSTEMS INTL INC | COMMON STOCKS | 293,570 | ||||||||||
| CSS INDUSTRIES INC | COMMON STOCKS | 191,673 | ||||||||||
| CTRIP.COM INTL LTD ADR | COMMON STOCKS | 209,127 | ||||||||||
| CUBIST PHARMACEUTICALS INC | COMMON STOCKS | 318,860 | ||||||||||
| DEL MONTE FOODS CO | COMMON STOCKS | 407,960 | ||||||||||
| DELPHI FINANCIAL GROUP CL A | COMMON STOCKS | 170,156 | ||||||||||
| DELUXE CORP | COMMON STOCKS | 368,320 | ||||||||||
| DIRECTV CL A | COMMON STOCKS | 75,867 | ||||||||||
| DNB NOR ASA | COMMON STOCKS | 200,888 | ||||||||||
| DONGFENG MOTOR GP CO LTD H | COMMON STOCKS | 179,299 | ||||||||||
| DURECT CORP | COMMON STOCKS | 379,631 | ||||||||||
| DYCOM INDUSTRIES INC | COMMON STOCKS | 182,900 | ||||||||||
| DYNAMIC MATERIALS CORP | COMMON STOCKS | 246,148 | ||||||||||
| DYNEX CAP INC | COMMON STOCKS | 148,512 | ||||||||||
| EAST WEST BANCORP INC | COMMON STOCKS | 134,895 | ||||||||||
| EASTMAN KODAK CO | COMMON STOCKS | 880,648 | ||||||||||
| EBAY INC | COMMON STOCKS | 1,054,757 | ||||||||||
| EL PASO ELECTRIC CO | COMMON STOCKS | 327,607 | ||||||||||
| EMC CORP | COMMON STOCKS | 794,630 | ||||||||||
| EMCOR GROUP INC | COMMON STOCKS | 260,820 | ||||||||||
| EMERGENT BIOSOL | COMMON STOCKS | 307,326 | ||||||||||
| ENDO PHARMACEUTICALS HLDGS INC | COMMON STOCKS | 307,106 | ||||||||||
| ENERNOC INC | COMMON STOCKS | 297,560 | ||||||||||
| ENNIS INC | COMMON STOCKS | 246,240 | ||||||||||
| ENPRO INDUSTRIES INC | COMMON STOCKS | 365,728 | ||||||||||
| FAIRCHILD SEMICON INTL INC | COMMON STOCKS | 382,445 | ||||||||||
| FANUC LTD | COMMON STOCKS | 522,046 | ||||||||||
| FBL FINANCIAL GROUP INC CL A | COMMON STOCKS | 200,690 | ||||||||||
| FINANCIAL ENGINES INC | COMMON STOCKS | 486,331 | ||||||||||
| FIRST FINANCIAL HOLDINGS INC | COMMON STOCKS | 115,100 | ||||||||||
| FLSMIDTH & CO A/S | COMMON STOCKS | 207,155 | ||||||||||
| FLUSHING FINANCIAL CORP | COMMON STOCKS | 183,400 | ||||||||||
| FNB CORP PA | COMMON STOCKS | 154,174 | ||||||||||
| FOOT LOCKER INC | COMMON STOCKS | 158,922 | ||||||||||
18
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| FORD MOTOR CO | COMMON STOCKS | 832,784 | ||||||||||
| FRESH DEL MONTE PRODUCE INC | COMMON STOCKS | 207,085 | ||||||||||
| GENCO SHIPPING & TRADING LTD | COMMON STOCKS | 57,600 | ||||||||||
| GENERAL ELECTRIC CO | COMMON STOCKS | 1,316,880 | ||||||||||
| GENERAL MOTORS CO | COMMON STOCKS | 523,412 | ||||||||||
| GENESCO INC | COMMON STOCKS | 262,430 | ||||||||||
| GFI GROUP INC | COMMON STOCKS | 94,269 | ||||||||||
| GILEAD SCIENCES INC | COMMON STOCKS | 931,368 | ||||||||||
| GIVAUDAN AG | COMMON STOCKS | 241,909 | ||||||||||
| GLATFELTER | COMMON STOCKS | 316,566 | ||||||||||
| GLOBE SPECIALTY METALS INC | COMMON STOCKS | 542,778 | ||||||||||
| GOLDEN AGRI-RESOURCES LTD | COMMON STOCKS | 424,547 | ||||||||||
| GOLDMAN SACHS GROUP INC | COMMON STOCKS | 1,032,502 | ||||||||||
| GOODRICH PETRO CORP | COMMON STOCKS | 892,531 | ||||||||||
| GRUPO MEXICO SAB DE CV SER B | COMMON STOCKS | 315,667 | ||||||||||
| HARLEYSVILLE GROUP INC | COMMON STOCKS | 150,634 | ||||||||||
| HAYNES INTL INC | COMMON STOCKS | 365,343 | ||||||||||
| HERCULES TECH GROWTH CAP INC | COMMON STOCKS | 232,064 | ||||||||||
| HEWLETT-PACKARD CO | COMMON STOCKS | 1,187,220 | ||||||||||
| HEXCEL CORPORATION | COMMON STOCKS | 342,353 | ||||||||||
| HIGHER ONE HLDGS INC | COMMON STOCKS | 303,713 | ||||||||||
| HORACE MANN EDUCATORS CORP | COMMON STOCKS | 285032 | ||||||||||
| HORNBECK OFFSHORE SERVICES INC | COMMON STOCKS | 123,192 | ||||||||||
| HORSEHEAD HOLDING CORP | COMMON STOCKS | 507,243 | ||||||||||
| HOSPITALITY PROPERTY TR REIT | COMMON STOCKS | 320,256 | ||||||||||
| HUNTINGTON BANCSHARES INC | COMMON STOCKS | 266,556 | ||||||||||
| HUTCHISON WHAMPOA LTD | COMMON STOCKS | 257,317 | ||||||||||
| HYUNDAI HEAVY INDS CO LTD | COMMON STOCKS | 113,787 | ||||||||||
| HYUNDAI MOBIS | COMMON STOCKS | 414,095 | ||||||||||
| ICONIX BRAND GROUP INC | COMMON STOCKS | 242,089 | ||||||||||
| IMATION CORP | COMMON STOCKS | 97,945 | ||||||||||
| INDEPENDENT BANK CORP | COMMON STOCKS | 2,691 | ||||||||||
| INFINITY PPTY & CASUALTY CORP | COMMON STOCKS | 241,020 | ||||||||||
| INGLES MARKETS INC-CL A | COMMON STOCKS | 213,120 | ||||||||||
| INNERWORKINGS INC | COMMON STOCKS | 461,310 | ||||||||||
| INTEGRATED DEVICE TECH INC | COMMON STOCKS | 173,160 | ||||||||||
| INTEL CORP | COMMON STOCKS | 881,157 | ||||||||||
| INTERNATIONAL BANCSHARES CORP | COMMON STOCKS | 432,648 | ||||||||||
| INTL BUS MACH CORP | COMMON STOCKS | 1,232,784 | ||||||||||
| IPC THE HOSPITALIST CO | COMMON STOCKS | 341,884 | ||||||||||
| ISOFTSTONE HOLDINGS LTD ADS | COMMON STOCKS | 252,109 | ||||||||||
| ISUZU MOTORS LTD | COMMON STOCKS | 386,197 | ||||||||||
| ITAU UNIBANCO HLDG SA SPON ADR | COMMON STOCKS | 368,554 | ||||||||||
| JOHNSON & JOHNSON | COMMON STOCKS | 497,893 | ||||||||||
| JOURNAL COMMUNICATIONS INC A | COMMON STOCKS | 241,895 | ||||||||||
| JPM JPHKORCO 9/2/15 ELN | COMMON STOCKS | 262,949 | ||||||||||
| JPMC THAI CONS WT 9/16/15 144A | COMMON STOCKS | 100,195 | ||||||||||
| JPMORGAN CHASE & CO | COMMON STOCKS | 1,179,276 | ||||||||||
19
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| KASIKORNBANK PCL NVDR | COMMON STOCKS | 253,670 | ||||||||||
| KENDLE INTERNATIONAL INC | COMMON STOCKS | 84,942 | ||||||||||
| KENSEY NASH CORP | COMMON STOCKS | 100,188 | ||||||||||
| KEYW HOLDING CORP | COMMON STOCKS | 285,860 | ||||||||||
| KINDRED HEALTHCARE INC | COMMON STOCKS | 236,973 | ||||||||||
| KINETIC CONCEPTS INC | COMMON STOCKS | 138,204 | ||||||||||
| KNIGHT TRANSPORTATION INC | COMMON STOCKS | 433,675 | ||||||||||
| KOC HLDG AS | COMMON STOCKS | 95,352 | ||||||||||
| KOMATSU LTD | COMMON STOCKS | 260,176 | ||||||||||
| KONE OYJ B | COMMON STOCKS | 118,469 | ||||||||||
| LARGAN PREN CO LTD CWT 8/17/20 | COMMON STOCKS | 372,987 | ||||||||||
| LIFE PARTNERS HOLDINGS INC | COMMON STOCKS | 168,344 | ||||||||||
| LIFE TIME FITNESS INC | COMMON STOCKS | 512,785 | ||||||||||
| LOJAS RENNER SA | COMMON STOCKS | 319,460 | ||||||||||
| LYNAS CORP LTD | COMMON STOCKS | 234,548 | ||||||||||
| MAINSOURCE FINACIAL GROUP INC | COMMON STOCKS | 176,970 | ||||||||||
| MAN GROUP PLC | COMMON STOCKS | 188,171 | ||||||||||
| MAN SE (FRANKFURT REG) | COMMON STOCKS | 264,254 | ||||||||||
| MASIMO CORP | COMMON STOCKS | 360,526 | ||||||||||
| MASTERCARD INC CL A | COMMON STOCKS | 522,176 | ||||||||||
| MEDICAL PPTY TR INC | COMMON STOCKS | 158,118 | ||||||||||
| MEDIFAST INC | COMMON STOCKS | 290,966 | ||||||||||
| MEDTRONIC INC | COMMON STOCKS | 469,189 | ||||||||||
| MERCK & CO INC NEW | COMMON STOCKS | 796,484 | ||||||||||
| METLIFE INC | COMMON STOCKS | 712,151 | ||||||||||
| METSO OYJ | COMMON STOCKS | 355,159 | ||||||||||
| MF GLOBAL HOLDINGS LTD | COMMON STOCKS | 287,584 | ||||||||||
| MFA FINANCIAL INC | COMMON STOCKS | 350,064 | ||||||||||
| MGIC INVESTMENT CORP | COMMON STOCKS | 681,151 | ||||||||||
| MICROSOFT CORP | COMMON STOCKS | 930,434 | ||||||||||
| MITSUBISHI ELECTRIC CORP ORD | COMMON STOCKS | 430,118 | ||||||||||
| MOBILE MINI INC | COMMON STOCKS | 503,690 | ||||||||||
| MONTPELIER RE HOLDINGS LTD | COMMON STOCKS | 388,830 | ||||||||||
| MORGAN STANLEY | COMMON STOCKS | 552,363 | ||||||||||
| MUELLER INDUSTRIES INC | COMMON STOCKS | 189,660 | ||||||||||
| MYERS INDUSTRIES | COMMON STOCKS | 156,814 | ||||||||||
| NACCO INDUSTRIES INC CL A | COMMON STOCKS | 335,947 | ||||||||||
| NASH-FINCH CO | COMMON STOCKS | 165,789 | ||||||||||
| NATIONAL PRESTO INDS | COMMON STOCKS | 130,010 | ||||||||||
| NEENAH PAPER INC | COMMON STOCKS | 74,784 | ||||||||||
| NELNET INC CL A | COMMON STOCKS | 388,516 | ||||||||||
| NETLOGIC MICROSYSTEMS INC | COMMON STOCKS | 822,282 | ||||||||||
| NETSUITE INC | COMMON STOCKS | 302,600 | ||||||||||
| NEWMARKET CORP | COMMON STOCKS | 407,121 | ||||||||||
| NIPPON ELECTRIC GLASS CO LTD | COMMON STOCKS | 252,540 | ||||||||||
| NOKIAN TYRES LTD | COMMON STOCKS | 293,569 | ||||||||||
| NORTHWESTERN CORP | COMMON STOCKS | 167,214 | ||||||||||
| NUVASIVE INC | COMMON STOCKS | 934,430 | ||||||||||
20
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2010
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| NYSE EURONEXT | COMMON STOCKS | 1,166,222 | ||||||||||
| OLD DOMINION FREIGHT LINES INC | COMMON STOCKS | 317,885 | ||||||||||
| OM GROUP INC | COMMON STOCKS | 134,785 | ||||||||||
| ORIENTAL FINANCIAL GROUP INC | COMMON STOCKS | 238,559 | ||||||||||
| OSISKO MINING CORP | COMMON STOCKS | 345,056 | ||||||||||
| OVERSEAS SHIPHOLDING GROUP INC | COMMON STOCKS | 120,428 | ||||||||||
| OXFORD INDUSTRIES | COMMON STOCKS | 64,025 | ||||||||||
| PACIFIC RUBIALES ENERGY CORP | COMMON STOCKS | 426,401 | ||||||||||
| PANAUST LTD | COMMON STOCKS | 343,987 | ||||||||||
| PAR PHARMACEUTICALS COS INC | COMMON STOCKS | 408,206 | ||||||||||
| PAREXEL INTERNATIONAL CORP | COMMON STOCKS | 388,318 | ||||||||||
| PDG REALTY SA | COMMON STOCKS | 363,655 | ||||||||||
| PDL BIOPHARMA INC | COMMON STOCKS | 140,175 | ||||||||||
| PENNSYLVANIA RE INVSTMENT TR | COMMON STOCKS | 101,710 | ||||||||||
| PEPSICO INC | COMMON STOCKS | 692,498 | ||||||||||
| PETROHAWK ENERGY CORP | COMMON STOCKS | 1,057,004 | ||||||||||
| PFIZER INC | COMMON STOCKS | 425,493 | ||||||||||
| PHARMERICA CORP | COMMON STOCKS | 141,980 | ||||||||||
| PHH CORP | COMMON STOCKS | 129,640 | ||||||||||
| PORTLAND GENERAL ELECTRIC CO | COMMON STOCKS | 177,940 | ||||||||||
| POWER INTEGRATIONS INC | COMMON STOCKS | 228,798 | ||||||||||
| POZEN INC | COMMON STOCKS | 335,366 | ||||||||||
| PRESIDENTIAL LIFE CORP | COMMON STOCKS | 102,279 | ||||||||||
| PRIVATEBANCORP INC | COMMON STOCKS | 142,362 | ||||||||||
| PULSE ELECTRONICS CORP | COMMON STOCKS | 60,648 | ||||||||||
| QUADRA FNX MINING LTD | COMMON STOCKS | 334,227 | ||||||||||
| QUAKER CHEMICAL CORP | COMMON STOCKS | 254,187 | ||||||||||
| QUALCOMM INC | COMMON STOCKS | 1,080,119 | ||||||||||
| QUALITY SYSTEMS INC | COMMON STOCKS | 246,116 | ||||||||||
| QUICKSILVER RES INC | COMMON STOCKS | 645,656 | ||||||||||
| RADIOSHACK CORP | COMMON STOCKS | 177,504 | ||||||||||
| RC2 CORP | COMMON STOCKS | 171,983 | ||||||||||
| RED ROBIN GOURMET BURGERS INC | COMMON STOCKS | 96,615 | ||||||||||
| REPUBLIC BANCORP INC KY CL A | COMMON STOCKS | 156,750 | ||||||||||
| RESEARCH IN MOTION LTD | COMMON STOCKS | 902,468 | ||||||||||
| RESOURCES CONNECTION INC | COMMON STOCKS | 431,288 | ||||||||||
| RF MICRO DEVICES INC | COMMON STOCKS | 299,880 | ||||||||||
| RICHEMONT CIE FINANCIERE SA A | COMMON STOCKS | 495,783 | ||||||||||
| RIO TINTO LTD | COMMON STOCKS | 642,360 | ||||||||||
| ROCK TENN COMPANY CL A | COMMON STOCKS | 242,775 | ||||||||||
| ROSETTA STONE INC | COMMON STOCKS | 415,424 | ||||||||||
| RUBICON TECHNOLOGY INC | COMMON STOCKS | 504,339 | ||||||||||
| RUBY TUESDAY INC | COMMON STOCKS | 222,020 | ||||||||||
| RYDER SYSTEM INC | COMMON STOCKS | 263,200 | ||||||||||
| SAFETY INSURANCE GROUP INC | COMMON STOCKS | 171,252 | ||||||||||
| SALIX PHARMACEUTICALS LTD | COMMON STOCKS | 410,900 | ||||||||||
| SANDERSON FARMS INC | COMMON STOCKS | 152,685 | ||||||||||
| SBERBANK OF RUSSIA (USD) | COMMON STOCKS | 378,047 | ||||||||||
21
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2009
| (a) | (b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| SCHOLASTIC CORP | COMMON STOCKS | 218,596 | ||||||||||
| SCORPIO TANKERS INC | COMMON STOCKS | 277,792 | ||||||||||
| SEACOR HOLDINGS INC | COMMON STOCKS | 262,834 | ||||||||||
| SELECTIVE INSURANCE GROUP INC | COMMON STOCKS | 150,645 | ||||||||||
| SHUFFLE MASTER INC | COMMON STOCKS | 246,748 | ||||||||||
| SHUTTERFLY INC | COMMON STOCKS | 422,987 | ||||||||||
| SIEMENS AG (REGD) | COMMON STOCKS | 309,230 | ||||||||||
| SINCLAIR BROADCAST GROUP CL A | COMMON STOCKS | 112,066 | ||||||||||
| SKILLED HEALTHCARE GROUP CL A | COMMON STOCKS | 248,746 | ||||||||||
| SKYWEST INC | COMMON STOCKS | 288,970 | ||||||||||
| SMART MODULAR TECH (WWH) INC | COMMON STOCKS | 204,480 | ||||||||||
| SMITH (AO) CORP | COMMON STOCKS | 156,128 | ||||||||||
| SOUTHSIDE BANCSHARES INC | COMMON STOCKS | 151,704 | ||||||||||
| SOUTHWEST GAS CORP | COMMON STOCKS | 161,348 | ||||||||||
| STAGE STORES INC | COMMON STOCKS | 275,706 | ||||||||||
| STANCORP FINL GROUP INC | COMMON STOCKS | 352,092 | ||||||||||
| STANDARD CHARTERED PLC (UK) | COMMON STOCKS | 326,033 | ||||||||||
| STONERIDGE INC | COMMON STOCKS | 246,324 | ||||||||||
| STURM RUGER & CO INC | COMMON STOCKS | 163,603 | ||||||||||
| SUBSEA 7 INC | COMMON STOCKS | 440,802 | ||||||||||
| SUN HUNG KAI PROPERTIES LTD | COMMON STOCKS | 199,318 | ||||||||||
| SUSQUEHANNA BANCSHARES INC PA | COMMON STOCKS | 223,608 | ||||||||||
| SWATCH GROUP AG (BR) | COMMON STOCKS | 513,918 | ||||||||||
| SWEDBANK AB A | COMMON STOCKS | 438,302 | ||||||||||
| SYNTEL INC | COMMON STOCKS | 424,375 | ||||||||||
| TAL INTL GROUP INC | COMMON STOCKS | 145,089 | ||||||||||
| TECH DATA CORP | COMMON STOCKS | 321,346 | ||||||||||
| TEMPUR PEDIC INTL INC | COMMON STOCKS | 493,459 | ||||||||||
| TERADYNE INC | COMMON STOCKS | 734,910 | ||||||||||
| TERREMARK WORLDWIDE INC | COMMON STOCKS | 587,011 | ||||||||||
| TESORO CORP | COMMON STOCKS | 307,764 | ||||||||||
| TEXAS INSTRUMENTS INC | COMMON STOCKS | 1,218,750 | ||||||||||
| TIME WARNER INC | COMMON STOCKS | 1,121,929 | ||||||||||
| TITAN MACHINERY INC | COMMON STOCKS | 236,251 | ||||||||||
| TRANSOCEAN LTD | COMMON STOCKS | 653,394 | ||||||||||
| TRIMERIS INC | COMMON STOCKS | 95,589 | ||||||||||
| TULLOW OIL PLC | COMMON STOCKS | 151,525 | ||||||||||
| TURKIYE IS BANKASI CL C UNIT | COMMON STOCKS | 285,637 | ||||||||||
| UBS TAIWAN TABLET WT 5/12/11 | COMMON STOCKS | 410,899 | ||||||||||
| UBSGAMES (UBS) (CWT) 5/12/11 | COMMON STOCKS | 404,073 | ||||||||||
| UBSPHIL (UBS) (CWT) 8/17/2020 | COMMON STOCKS | 132,935 | ||||||||||
| UNISOURCE ENERGY CORP | COMMON STOCKS | 279,552 | ||||||||||
| UNITED CONTINENTAL HLDGS INC | COMMON STOCKS | 826,554 | ||||||||||
| UNITED ONLINE INC | COMMON STOCKS | 217,140 | ||||||||||
| UNITED RENTALS INC | COMMON STOCKS | 337,838 | ||||||||||
| UNITEDHEALTH GROUP INC | COMMON STOCKS | 790,809 | ||||||||||
| UNIVERSAL AMERICAN CORP | COMMON STOCKS | 521,475 | ||||||||||
| USA MOBILITY INC | COMMON STOCKS | 254,111 | ||||||||||
22
The NCR Savings Plan
Schedule H, Line 4i-Schedule of Assets (Held at End of Year)**
December 31, 2009
| (a) |
(b) Identity of Issue, Borrower, Lender, or Similar Party |
(c) Description of Investment including maturity Date, Rate of Interest, Collateral, Par on Maturity Date |
(d) Cost**** | (e) Current Value |
||||||||
| USEC INC | COMMON STOCKS | 296,786 | ||||||||||
| VAALCO ENERGY INC | COMMON STOCKS | 250,600 | ||||||||||
| VALIDUS HOLDING | COMMON STOCKS | 171,416 | ||||||||||
| VALLOUREC SA | COMMON STOCKS | 165,724 | ||||||||||
| VISHAY INTERTECHNOLOGY INC | COMMON STOCKS | 394,892 | ||||||||||
| VISTAPRINT NV | COMMON STOCKS | 792,396 | ||||||||||
| VITRAN CORP INC | COMMON STOCKS | 291,435 | ||||||||||
| VODAFONE GROUP PLC SPON ADR | COMMON STOCKS | 66,075 | ||||||||||
| WABASH NATIONAL CORP | COMMON STOCKS | 284,993 | ||||||||||
| WAL MART STORES INC | COMMON STOCKS | 550,086 | ||||||||||
| WALTER INVT MGT | COMMON STOCKS | 177,606 | ||||||||||
| WARTSILA | COMMON STOCKS | 392,325 | ||||||||||
| WELLS FARGO & CO | COMMON STOCKS | 1,247,348 | ||||||||||
| WEST CHINA CEMENT LTD(HK) | COMMON STOCKS | 229,540 | ||||||||||
| WEST COAST BANCORP OREGON | COMMON STOCKS | 57,974 | ||||||||||
| WHITNEY HOLDING CORP | COMMON STOCKS | 100,465 | ||||||||||
| WORLD ACCEPTANCE CORP | COMMON STOCKS | 401,280 | ||||||||||
| WPP PLC | COMMON STOCKS | 410,465 | ||||||||||
| XYRATEX LTD | COMMON STOCKS | 184,303 | ||||||||||
| YANZHOU COAL MINING CO LTD H | COMMON STOCKS | 117,948 | ||||||||||
| YUM BRANDS INC | COMMON STOCKS | 631,519 | ||||||||||
| ZOLL MEDICAL CORP | COMMON STOCKS | 246,649 | ||||||||||
| 163,763,591 | ||||||||||||
| SSBK STIF | MONEY MARKET | 1,034,457 | ||||||||||
| Total Mutual Fund Window Investments*** | Registered Investment Companies | 598,920,336 | ||||||||||
| * |
Notes receivable from participants (a) | Notes receivable from participants | 11,686,793 | |||||||||
| $ | 1,157,061,323 | |||||||||||
| (a) | The participant loan interest rates are between 4.25% - 10.50%. The loans are due at various dates through April 12, 2019. |
| * | Party-in-interest. |
| ** | This schedule represents those assets required to be reported under Department of Labor Section 2520.103-11 and Form 5500 Schedule H, Line 4i. |
| *** | This line item represents the aggregate value of participant-directed mutual fund investments held within the Mutual Fund Window at Fidelity, which is a party-in-interest. |
| **** | Per Department of Labor Section 2520.103-11(d), cost may be omitted as all investments are participant directed. |
23
Signatures
NCR Savings Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, NCR Corporation, the administrator of the NCR Savings Plan, has duly caused this annual report to be signed by the undersigned thereunto duly authorized.
| NCR Savings Plan | ||
| By: |
/s/ Robert Fishman | |
| Robert Fishman | ||
| Senior Vice President and Chief Financial Officer NCR Corporation | ||
Date: June 29, 2011
24
Exhibit Index
| Exhibit No. 23 | Consent of PricewaterhouseCoopers LLP |
25