Summary
This 10-K filing primarily contains detailed financial statements and supplemental schedules for several of ATI Inc.'s employee retirement plans, including the Allegheny Technologies Retirement Savings Plan and various 401(k) and profit-sharing plans. The reports for the fiscal years ended December 31, 2001 and 2000, show the net assets available for benefits and changes therein. These filings are crucial for understanding the financial health and management of the company's employee benefits, offering insights into investment performance and plan administration.
Key Highlights
- 1The filing includes audited financial statements for multiple employee retirement and savings plans sponsored by ATI Inc. and its subsidiaries.
- 2These plans, including the Allegheny Technologies Retirement Savings Plan, 401(k) Savings Account Plan for Employees of the Washington Plate Plant, and others, detail their net assets available for benefits for the years ending December 31, 2001 and 2000.
- 3Investment income (or loss) is reported for each plan, showing performance across various asset classes including master trusts, registered investment companies, common collective trusts, and corporate stocks.
- 4The financial statements indicate significant holdings in 'Interest in Allegheny Ludlum Corporation Master Trusts' across several plans, highlighting a key investment area.
- 5Details on participant loans are provided, showing balances and interest rates, indicating a feature available to plan participants.
- 6All plans reviewed are qualified under Section 401(a) of the Internal Revenue Code, with related trusts exempt from taxation.
- 7The financial statements are audited by Ernst & Young LLP, providing an independent assurance on their fairness and conformity with Generally Accepted Accounting Principles (GAAP).
Frequently Asked Questions
This filing's primary focus is on the audited financial statements and supplemental schedules for ATI Inc.'s various employee retirement and savings plans, detailing their financial status and performance for the years ending December 31, 2001 and 2000. It does not contain the company's consolidated financial statements, which are referenced as being in the 2001 Annual Report.
The retirement plans hold a diverse range of investments, including interest-bearing cash, interests in master trusts (such as the Allegheny Ludlum Corporation Master Trusts), registered investment companies, common collective trusts, corporate common stocks, and participant loans. Specific funds mentioned include various Dreyfus funds, Alliance Equity Fund, and fixed income instruments.
Based on the provided financial statements for the retirement plans, they appear to be well-funded, with substantial net assets available for benefits. For example, the Allegheny Technologies Retirement Savings Plan had over $232 million in net assets available for benefits as of December 31, 2001. The plans also show contributions from employers and employees. However, a full assessment of the company's overall financial health would require reviewing the consolidated financial statements, which are not detailed in this extract.
The 'Party-in-interest' designation typically refers to transactions between a plan and entities that have a close relationship with the plan or the plan sponsor. In this context, it often relates to investments in funds managed by the plan's trustee (Dreyfus Retirement Services) or loans made to plan participants. These transactions are permissible under ERISA but require careful disclosure and adherence to fiduciary responsibilities to ensure they are conducted on terms customary and reasonable for such services.