UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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þ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] |
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005
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o | 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
ALLEGHENY TECHNOLOGIES INCORPORATED
1000 Six PPG Place, Pittsburgh, Pennsylvania 15222-5479
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Report of Independent Registered Public Accounting Firm
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1 | |||||||
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Audited Financial Statements
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Statements of Net Assets Available for Benefits
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2 | |||||||
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Statements of Changes in Net Assets Available for Benefits
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3 | |||||||
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Notes to Financial Statements
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4 | |||||||
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Supplemental Schedule
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Schedule H, Line 4iSchedule of Assets (Held at End of Year)
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12 | |||||||
| EX-23.1 | ||||||||
| December 31 | ||||||||
| 2005 | 2004 | |||||||
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Investments:
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||||||||
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Interest in Allegheny Master Trust
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$ | 149,610,476 | $ | 150,958,227 | ||||
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Interest in registered investment companies
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90,006,536 | 72,353,735 | ||||||
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Corporate common stocks
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18,616,407 | 14,558,530 | ||||||
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Participant loans
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2,704,914 | 2,841,346 | ||||||
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Interest in common collective trusts
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210,363 | | ||||||
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Interest
bearing cash
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11,193 | 77,489 | ||||||
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Total investments
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261,159,889 | 240,789,327 | ||||||
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||||||||
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Employer contribution receivable
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330,358 | 9,300 | ||||||
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Employee contributions receivable
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211,767 | 17,290 | ||||||
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Other payables, net
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(7,481 | ) | (1,862 | ) | ||||
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Net assets available for benefits
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$ | 261,694,533 | $ | 240,814,055 | ||||
2
Allegheny Technologies Retirement Savings Plan
| Years Ended December 31 | ||||||||
| 2005 | 2004 | |||||||
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Contributions:
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||||||||
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Employer
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$ | 7,204,742 | $ | 6,392,805 | ||||
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Employee
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6,723,272 | 5,009,391 | ||||||
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Total contributions
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13,928,014 | 11,402,196 | ||||||
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||||||||
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Investment income:
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||||||||
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Net gain from interest in Allegheny Master Trust
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8,489,872 | 10,116,374 | ||||||
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Net gain from interest in registered investment
companies
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7,263,606 | 8,171,954 | ||||||
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Net realized/unrealized gain on corporate common
stocks
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9,188,964 | 6,505,273 | ||||||
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Dividend income
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167,817 | 173,971 | ||||||
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Interest income
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148,218 | 143,140 | ||||||
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Net gain from interest in common collective trusts
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2,667 | 742 | ||||||
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Other (expense) income
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(79,478 | ) | 44,000 | |||||
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Total investment income
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25,181,666 | 25,155,454 | ||||||
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39,109,680 | 36,557,650 | ||||||
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Distributions to participants
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(18,219,878 | ) | (23,969,348 | ) | ||||
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Administrative expenses and other, net
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(9,324 | ) | (5,141 | ) | ||||
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(18,229,202 | ) | (23,974,489 | ) | ||||
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Net increase in net assets available for benefits
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20,880,478 | 12,583,161 | ||||||
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Net assets available for benefits at beginning of year
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240,814,055 | 228,230,894 | ||||||
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Net assets available for benefits at end of year
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$ | 261,694,533 | $ | 240,814,055 | ||||
3
4
5
| December 31 | ||||||||
| 2005 | 2004 | |||||||
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Standish Fixed Income Fund
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$ | 102,819,541 | $ | 100,151,127 | ||||
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Alliance Capital Growth Pool
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27,326,945 | 26,634,265 | ||||||
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Oakmark Balanced Fund
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22,283,555 | 19,881,038 | ||||||
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T. Rowe Price Structured Research Common Trust
Fund
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19,463,990 | 24,172,835 | ||||||
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Allegheny Technologies Incorporated common stock
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18,616,407 | 14,558,530 | ||||||
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Dreyfus Emerging Leaders Fund
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16,308,754 | 16,975,167 | ||||||
6
Allegheny Technologies Retirement Savings Plan
| 2005 | 2004 | |||||||
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Alliance Capital Growth Pool
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68.72 | % | 69.86 | % | ||||
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Standish Fixed Income Fund
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48.33 | 50.36 | ||||||
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T. Rowe Price Structured Research Common Trust Fund
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29.37 | 32.66 | ||||||
| 2005 | 2004 | |||||||
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Guaranteed investment contracts:
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Canada Life
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$ | | $ | 1,371,538 | ||||
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GE Life and Annuity
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5,423,371 | 8,735,242 | ||||||
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Hartford Life Insurance Company
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3,957,897 | 8,250,446 | ||||||
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John Hancock Life Insurance Company
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3,007,848 | 4,670,166 | ||||||
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Monumental Life Insurance Company
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1,017,237 | 1,017,190 | ||||||
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New York Life Insurance Company
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4,678,585 | 6,769,166 | ||||||
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Ohio National Life
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1,994,712 | 2,687,551 | ||||||
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Pacific Mutual Life Insurance Company
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| 5,061,507 | ||||||
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Principal Life
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1,302,255 | 1,243,795 | ||||||
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Pruco Pace Credit Enhanced
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3,699,594 | 7,132,148 | ||||||
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Security Life of Denver
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1,511,089 | 5,972,064 | ||||||
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United of Omaha
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1,415,656 | 2,929,738 | ||||||
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28,008,244 | 55,840,551 | ||||||
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Synthetic guaranteed investment contracts:
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State Street Bank
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15,346,138 | | ||||||
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MDA Monumental BGI Wrap
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44,677,978 | 36,520,489 | ||||||
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Bank of America
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33,678,591 | 33,366,628 | ||||||
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Rabobank
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41,850,313 | 37,879,291 | ||||||
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Union Bank of Switzerland
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36,377,616 | 25,166,696 | ||||||
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171,930,636 | 132,933,104 | ||||||
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Interest in common collective trusts
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12,085,541 | 9,386,961 | ||||||
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Other
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746,684 | 670,702 | ||||||
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Total net assets
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$ | 212,771,105 | $ | 198,831,318 | ||||
7
| 2005 | 2004 | |||||||
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Investment in pooled separate accounts:
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Alliance Equity Fund S.A. #4
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$ | 39,779,750 | $ | 38,135,320 | ||||
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Operating payables
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(11,734 | ) | (11,230 | ) | ||||
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Total net assets
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$ | 39,768,016 | $ | 38,124,090 | ||||
8
| 2005 | 2004 | |||||||
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Investment in common collective trusts
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$ | 66,391,950 | $ | 71,478 | ||||
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Corporate common stocks
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| 72,955,300 | ||||||
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Receivables
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| 1,085,015 | ||||||
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Payables
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(126,421 | ) | (97,126 | ) | ||||
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Total net assets
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$ | 66,265,529 | $ | 74,014,667 | ||||
| T. Rowe Price Structured Research | ||||||||||||||||||||||||
| Standish Fixed Income Fund | Alliance Capital Growth Pool | Common Trust Fund | ||||||||||||||||||||||
| Years Ended December 31 | ||||||||||||||||||||||||
| 2005 | 2004 | 2005 | 2004 | 2005 | 2004 | |||||||||||||||||||
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Investment income (loss):
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Interest income
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$ | 9,077,315 | $ | 9,236,594 | $ | | $ | | $ | | $ | | ||||||||||||
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Net
realized/unrealized
gain (loss) on
corporate common
stocks
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(543 | ) | (1,358 | ) | (1 | ) | | (1,585,846 | ) | 4,352,382 | ||||||||||||||
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Dividends
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| | | | 427,913 | 1,368,881 | ||||||||||||||||||
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Net loss, registered
investment companies
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(7,739 | ) | | | | | | |||||||||||||||||
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Net gain, pooled
separate accounts
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| | 4,438,949 | 5,432,718 | | | ||||||||||||||||||
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Net gain, common
collective trusts
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443,616 | 122,717 | | | 4,781,495 | 8,488 | ||||||||||||||||||
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Administrative expenses
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(254,334 | ) | (240,688 | ) | (129,310 | ) | (128,988 | ) | (461,975 | ) | (551,752 | ) | ||||||||||||
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Transfers
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4,681,472 | (1,892,602 | ) | (2,665,712 | ) | (2,835,451 | ) | (10,910,725 | ) | (9,000,958 | ) | |||||||||||||
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Net increase (decrease)
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13,939,787 | 7,224,663 | 1,643,926 | 2,468,279 | (7,749,138 | ) | (3,822,959 | ) | ||||||||||||||||
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Total net assets at
beginning of year
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198,831,318 | 191,606,655 | 38,124,090 | 35,655,811 | 74,014,667 | 77,837,626 | ||||||||||||||||||
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Total net assets at
end of year
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$ | 212,771,105 | $ | 198,831,318 | $ | 39,768,016 | $ | 38,124,090 | $ | 66,265,529 | $ | 74,014,667 | ||||||||||||
9
10
| December 31 | ||||||||
| 2005 | 2004 | |||||||
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Net assets available for benefits per the
financial statements
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$ | 261,694,533 | $ | 240,814,055 | ||||
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Deemed distribution of benefits to participants
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(42,340 | ) | (46,365 | ) | ||||
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Net assets available for benefits per the Form 5500
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$ | 261,652,193 | $ | 240,767,690 | ||||
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Benefits paid to participants per the financial statements
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$ | 18,219,878 | ||
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Add: Amounts allocated on Form 5500 to deemed distributions
for the year ended December 31, 2005
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42,340 | |||
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Subtract: Amounts allocated on Form 5500 to deemed
distributions for the year ended December 31, 2004
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(46,365 | ) | ||
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Benefits paid to participants per the Form 5500
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$ | 18,215,853 | ||
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11
| Description | Units/Shares | Current Value | ||||||
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Registered Investment Companies
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Artisan Midcap Funds
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120,945.9500 | $ | 3,739,649 | |||||
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Dreyfus Appreciation Fund*
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24,660.9870 | 980,274 | ||||||
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Dreyfus Bond Market Index*
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274,442.2010 | 2,763,633 | ||||||
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Hartford Midcap Fund
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217,352.5130 | 6,244,538 | ||||||
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Lord, Abbett Midcap Funds
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272,207.9210 | 6,100,180 | ||||||
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Dreyfus Emerging Leaders Fd*
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393,836.1290 | 16,308,754 | ||||||
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MFS Value Fund
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141,610.9460 | 3,278,293 | ||||||
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Dreyfus Premier Intl Value Fd*
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447,583.2660 | 8,320,573 | ||||||
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Morgan Stanley Small Growth Fund
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331,893.924 | 4,274,794 | ||||||
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Allianz NFJ Small Cap Value Funds
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222,602.9440 | 6,437,677 | ||||||
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Oakmark Balanced Fund
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892,055.8320 | 22,283,555 | ||||||
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Prudential Invt Portfolios Inc Jennison Growth Fd
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145,705.4650 | 2,358,971 | ||||||
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83,090,891 | |||||||
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Self-directed accounts
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||||||||
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AIM Global Health Care Fund
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3,186.2780 | 96,002 | ||||||
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AIM Equity Fds Inc Blue Chip Fund
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1,225.8210 | 14,759 | ||||||
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AIM Invesco Energy Fund
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1,760.3520 | 71,488 | ||||||
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AIM Technology Fd
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98.7900 | 2,559 | ||||||
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Alliance Bernstein Technology Fd
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158.2940 | 8,524 | ||||||
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American Advantage Large Cap Value Fund
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753.2260 | 15,019 | ||||||
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American
Centy Quantitive Eq Fds Growth Fund Inc
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1,789.8440 | 41,829 | ||||||
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American
Century Cap Equity Income Fund
|
8,756.3430 | 68,475 | ||||||
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America Centy Mut Fds Ultra Twentieth Centy Ultra Fd
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353.1060 | 10,625 | ||||||
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Ariel Growth Fd Calvert Ariel Appreciation Fd
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406.5400 | 18,993 | ||||||
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Blackrock
Fds Mid Cap Value Eqty Portfolio
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3.7950 | 44 | ||||||
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CGM Tr Rlty Fund
|
1,065.3090 | 28,966 | ||||||
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CGM Tr Focus Fund
|
208.4900 | 6,966 | ||||||
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Dodge & Cox Stock Fund
|
26.3400 | 3,614 | ||||||
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Dreyfus 100% US Treas MM Fd*
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222,552.0800 | 222,552 | ||||||
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Dreyfus Invt Grade Bd Fds Inter Term Fd*
|
803.5440 | 10,084 | ||||||
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Dreyfus/Laurel Fds Inc Disciplined Stk Fd*
|
226.7950 | 7,650 | ||||||
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Dreyfus/Laurel Fds Inc S&P 500 Stk Index Fd*
|
9,418.5210 | 244,034 | ||||||
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Dreyfus Midcap Value Fd*
|
248.4750 | 7,874 | ||||||
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Dreyfus Growth & Value Fds Premier Techn Growth Fd*
|
682.4940 | 16,769 | ||||||
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Dreyfus Technology Growth Fd*
|
3,495.1640 | 83,604 | ||||||
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Dreyfus Premier Emerging Mkts Fd*
|
8,030.2870 | 173,615 | ||||||
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Dreyfus
Premier Micro Cap Growth Fund*
|
1,220.6510 | 27,587 | ||||||
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Eaton Vance Growth Tr Worldwide Health Sciences Fd
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1,401.0900 | 16,084 | ||||||
12
| Description | Units/Shares | Current Value | ||||||
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Excelsior
Funds Energy & Nat Res Fund
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639.4720 | 15,366 | ||||||
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FBR Family
Funds Small Cap Value
|
29.2330 | 1,230 | ||||||
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Federated Equity Kaufmann Fd
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32,023.6460 | 179,332 | ||||||
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Federated Equity Tech Fd
|
1,402.2790 | 7,600 | ||||||
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Fidelity Invt Tr Japan Small Co Fd
|
1,221.0420 | 20,538 | ||||||
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Fidelity Invt Tr Diversified Intl Fd
|
245.4380 | 7,987 | ||||||
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Fidelity Invt Tr Latin Amer Fd
|
518.1230 | 16,570 | ||||||
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Fidelity Commonwealth Small Cap Stk Fd
|
1,958.2900 | 40,106 | ||||||
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Fidelity Finl Tr Equity Income II Fund
|
1,179.2890 | 26,959 | ||||||
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Fidelity Mt Vernon Str Tr Growth Co Fd
|
289.1680 | 18,400 | ||||||
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Fidelity Mt Vernon Str tr Growth Co Fd
|
104.3900 | 1,858 | ||||||
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Fidelity Secs Fd Dividend Growth Fd
|
1,476.4860 | 42,508 | ||||||
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Fidelity Select Portfolios Technology Portfolio
|
996.7670 | 62,946 | ||||||
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Fidelity Select Portfolios Health Care Portfolio
|
119.2230 | 16,225 | ||||||
|
Fidelity Select Portfolios Nat Gas Portfolio
|
389.6860 | 15,128 | ||||||
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Fidelity Select Portfolios Developing Commnts Portfolio
|
682.7420 | 13,662 | ||||||
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Fidelity Select Portfolios Biotechnology Portfolio
|
123.4440 | 7,740 | ||||||
|
Fidelity Select Portfolios American Gold Portfolio
|
830.8130 | 27,616 | ||||||
|
Fidelity Select Portfolios Software & Computer Svcs Portfolio
|
687.2980 | 36,076 | ||||||
|
Fidelity Select Portfolios Brokerage & Inv Mgmt Portfolio
|
789.8820 | 54,462 | ||||||
|
Fidelity Select Portfolios Ele Portfolio
|
3,276.6590 | 143,288 | ||||||
|
Fidelity Select Portfolios Computers Portfolio
|
3,197.3390 | 115,360 | ||||||
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First Eagle Overseas Fund
|
2,471.9880 | 56,955 | ||||||
|
Firsthand Fds Technology Value Fd
|
238.0860 | 7,885 | ||||||
|
Franklin Invs Secs Conv Secs Fd
|
158.9880 | 2,568 | ||||||
|
Gabelli Gold Fund
|
744.3280 | 15,482 | ||||||
|
Gabelli Intl Growth Fd
|
1,722.7510 | 35,540 | ||||||
|
Gabelli Global Growth Fd AAA
|
240.5950 | 4,915 | ||||||
|
Gabelli Global Ser Fds Conv Secs Fd
|
786.1850 | 4,890 | ||||||
|
Gabelli Growth Fd Sh Ben Int
|
1,625.2920 | 46,825 | ||||||
|
Growth Fd Amer Inc
|
278.2970 | 8,335 | ||||||
|
Harbor Fd Bd Fd
|
660.1970 | 7,671 | ||||||
|
Harding Loevner Fds Emerging Markets Portfolio
|
455.9210 | 15,861 | ||||||
|
Icon Fds Energy Fund
|
481.8330 | 15,395 | ||||||
|
ING Mut Fds Russia Fund
|
1,054.8980 | 41,384 | ||||||
|
Investment
Co Amer Class B
|
443.2470 | 13,847 | ||||||
|
Janus Invt Fd Sh Ben Int
|
1,979.9460 | 50,548 | ||||||
|
Janus Invt Fd Growth & Income Fd
|
3,266.7280 | 117,635 | ||||||
|
Janus Invt Fd Worldwide Fd
|
1,607.3100 | 69,661 | ||||||
|
Janus Invt Fd Twenty Fd
|
1,068.0730 | 52,250 | ||||||
|
Janus Invt Fd Mid Cap Value Fd
|
1,103.8130 | 24,637 | ||||||
|
Janus Invt Fd Global Value Fd
|
1,523.5290 | 22,411 | ||||||
|
Janus Invt Fd Orion Fd
|
1,881.7340 | 15,675 | ||||||
13
| Description | Units/Shares | Current Value | ||||||
|
Janus Invt Fd Contrarian Fund
|
10,082.5890 | 152,650 | ||||||
|
Janus Invt Fd Global Tech Fd
|
3,219.7150 | 38,315 | ||||||
|
Janus Invt Fd Global Life Sciences Fd
|
1,489.7850 | 29,870 | ||||||
|
Janus Invt Fd Olympus Fd
|
6,019.6490 | 196,782 | ||||||
|
Janus Invt Fd Enterprise Fd
|
2,498.3260 | 104,705 | ||||||
|
Janus Invt Fd Mercury Fd
|
5,610.8300 | 128,937 | ||||||
|
Jennison Sector Fds Health Sciences Fd
|
833.6950 | 17,308 | ||||||
|
Lazard Fds Emerging Mkts Portfolio Retail
|
371.0980 | 6,676 | ||||||
|
Loomis
Sayles Funds 1 Bond Fund Retail
|
1,694.2080 | 22,923 | ||||||
|
Lord Abbett Mid Cap Value Fd, Class B
|
322.7520 | 6,988 | ||||||
|
MFS Mid Cap Growth A
|
1,790.3260 | 16,435 | ||||||
|
Marsico Invt Fd Growth & Income Fd
|
1,136.3640 | 21,420 | ||||||
|
Masters Select Fds Intl Fd
|
1,155.9040 | 20,205 | ||||||
|
Matthews Intl Fds Dragon Centy China Fd
|
362.1450 | 5,345 | ||||||
|
Matthews Inc Fds Korea Fd
|
2,339.2140 | 14,901 | ||||||
|
Meridian Fd
|
216.1990 | 7,906 | ||||||
|
New Perspective Fd
|
613.3540 | 17,560 | ||||||
|
Oberwies Fds Micro-Cap Portfolio
|
892.9610 | 15,457 | ||||||
|
PBHG Fds Emerging Growth Fund
|
3.4510 | 50 | ||||||
|
PBGH Fds Technology & Communications Fd
|
935.1580 | 11,689 | ||||||
|
Pimco Fds Pac Invt Mgmt Ser Total Return Fd
|
181,375.9940 | 1,904,448 | ||||||
|
Park Ave Portfolio Guardian Fd
|
1,472.7650 | 47,511 | ||||||
|
Price T Rowe
Health Sciences Fd*
|
523.0070 | 13,112 | ||||||
|
Profounds Short Small Cap Inv
|
2,497.3990 | 47,575 | ||||||
|
Profounds Short Real Estate Profound Investor
|
499.8330 | 15,005 | ||||||
|
Profounds Ultra Japan Profound Invs
|
242.2540 | 15,659 | ||||||
|
RS Invt Tr Emerging Growth Fd
|
2,795.5960 | 91,081 | ||||||
|
RS Invt Tr Global Natural Rfs Fd
|
2,887.6790 | 94,283 | ||||||
|
Rowe T Price
Appreciation Fd Sh Ben Int*
|
3,945.4150 | 79,145 | ||||||
|
Rowe T Price
Mid Cap Growth Fd*
|
366.8130 | 19,859 | ||||||
|
Rowe Price
New Era Fd*
|
235.3680 | 9,633 | ||||||
|
Rowe T Price
Science & Tech Fd Inc Cap Stk*
|
3,170.6670 | 62,050 | ||||||
|
Rowe T Price
Small-Cap Value Fd Inc Cap Stk*
|
829.5670 | 30,619 | ||||||
|
Rowe T Price
Real Estate Fd*
|
667.3560 | 13,007 | ||||||
|
Royce Fd Opporunity Fd
|
107.0760 | 1,316 | ||||||
|
Royce Spl Equity Fund
|
693.9340 | 12,977 | ||||||
|
Royce Fd Pennsylvania Mutual Fd
|
713.6090 | 7,693 | ||||||
|
Ryder Ser Tr Dynamic Velocity 100 Fd
|
581.2700 | 12,736 | ||||||
|
Rydex Ser Tr Arktos Fd
|
1,647.3680 | 36,802 | ||||||
|
Scudder Invts Morgan Grenfell Invt Tr High Inc Plus Fd
|
2,028.7960 | 15,419 | ||||||
|
Scudder Technology Fd Sh Ben Int
|
2,214.1820 | 25,840 | ||||||
|
Selected Amern Shs
|
605.0850 | 24,349 | ||||||