SECURITIES AND EXCHANGE COMMISSION
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|
Washington, D.C. 20549
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(Mark One)
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FORM 11-K
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x
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ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended December 31, 2011
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OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from to
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Commission File Number:1-8610
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A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
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BELLSOUTH SAVINGS AND SECURITY PLAN
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B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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AT&T INC.
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208 S. Akard, Dallas, Texas 75202
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Financial Statements, Supplemental Schedule and Exhibit
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Table of Contents
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Page
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Report of Independent Registered Public Accounting Firm
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1
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Financial Statements:
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Statements of Net Assets Available for Benefits as of December 31, 2011 and 2010
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2
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Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2011
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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 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2011
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24
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Exhibit:
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23 – Consent of Independent Registered Public Accounting Firm
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32
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BELLSOUTH SAVINGS AND SECURITY PLAN
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||||||||
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
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||||||||
(Dollars in Thousands)
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||||||||
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|
||||||
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December 31,
|
|||||||
|
2011
|
2010
|
||||||
ASSETS
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|
|
||||||
Investment in AT&T Savings Group Investment Trust
|
$ | 823,662 | $ | 804,574 | ||||
Investments, at fair value
|
1,376,875 | 1,488,384 | ||||||
Total Investments, at fair value (See Note 4)
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2,200,537 | 2,292,958 | ||||||
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||||||||
Notes receivable from participants
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56,007 | 52,029 | ||||||
Participant contributions receivable
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569 | 786 | ||||||
Employer contributions receivable
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294 | 247 | ||||||
Interest receivable
|
698 | 882 | ||||||
Total Receivables
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57,568 | 53,944 | ||||||
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||||||||
Total Assets
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2,258,105 | 2,346,902 | ||||||
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||||||||
LIABILITITES
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||||||||
Administrative expenses payable
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1,216 | 1,112 | ||||||
Due to broker for securities purchased
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15,996 | 12,558 | ||||||
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||||||||
Total Liabilities
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17,212 | 13,670 | ||||||
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||||||||
Net assets reflecting investments at fair value
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2,240,893 | 2,333,232 | ||||||
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||||||||
Adjustment from fair value to contract value for fully benefit- responsive
investment contracts
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(43,159 | ) | (35,869 | ) | ||||
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||||||||
Net Assets Available for Benefits
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$ | 2,197,734 | $ | 2,297,363 | ||||
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||||||||
See Notes to Financial Statements.
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BELLSOUTH SAVINGS AND SECURITY PLAN
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||||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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||||
FOR THE YEAR ENDED DECEMBER 31, 2011
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||||
(Dollars in Thousands)
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||||
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|||
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|||
Net Assets Available for Benefits, December 31, 2010
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$ | 2,297,363 | ||
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||||
Additions to Net Assets:
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||||
Contributions:
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||||
Participant contributions
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75,202 | |||
Employer contributions
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33,686 | |||
Rollover contributions
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15,650 | |||
|
124,538 | |||
Investment Income (Loss):
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||||
Net income from investment in AT&T Savings Group Investment Trust
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24,554 | |||
Interest
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3,628 | |||
Dividends
|
47,216 | |||
Net depreciation in fair value of investments
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(25,700 | ) | ||
|
49,698 | |||
|
||||
Interest income on notes receivable from participants
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2,384 | |||
|
||||
Total Additions
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176,620 | |||
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||||
Deductions from Net Assets:
|
||||
Distributions
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271,813 | |||
Administrative expenses
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1,617 | |||
|
||||
Total Deductions
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273,430 | |||
|
||||
Net decrease before transfers
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(96,810 | ) | ||
|
||||
Transfers to affiliated plan (Note 1)
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(2,819 | ) | ||
|
||||
Net Assets Available for Benefits, December 31, 2011
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$ | 2,197,734 | ||
|
||||
See Notes to Financial Statements.
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· AT&T Stock Fund
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· DFA U.S. Small Cap Value Portfolio
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· Bond Fund
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· DFA International Value Portfolio II
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· Vanguard Growth Index Fund
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· U.S. Large Cap Value Portfolio II
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· Fidelity Growth and Income Portfolio
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· T. Rowe Price Mid-Cap Growth Fund
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· Balanced Fund
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· AT&T Stable Value Fund (also known as the Interest Income Fund)*
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· LifePath Funds (based on retirement date)
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· Large Cap U.S. Stock Index Fund
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NOTE 2. ACCOUNTING POLICIES
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NOTE 3. FAIR VALUE MEASUREMENTS
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Level 1
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Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
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Level 2
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Inputs to the valuation methodology include:
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·
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Quoted prices for similar assets and liabilities in active markets;
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·
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Quoted prices for identical or similar assets or liabilities in inactive markets;
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·
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Inputs other than quoted market prices that are observable for the asset or liability;
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·
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Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
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Level 3
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Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
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NOTE 4. INVESTMENTS
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2011
|
2010
|
|||||
AT&T Stock Fund (AT&T common shares)
|
$ | 508,182 | $ | 523,390 | |||
T. Rowe Price Mid-Cap Growth Fund
|
173,766 | 197,929 | |||||
DFA U.S. Small Cap Value II Fund
|
115,763 | 142,612 |
Common stock
|
$ | 15,381 | |
Registered investment companies
|
(47,368 | ) | |
Common/collective trust funds
|
3,985 | ||
Fixed income securities
|
2,302 | ||
Total
|
$ | (25,700 | ) |
Plan Assets at Fair Value as of December 31, 2011
|
||||||||||||||||
Level 1
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Level 2
|
Level 3
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Total
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|||||||||||||
Interest bearing cash
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$ | 2,751 | $ | - | $ | - | $ | 2,751 | ||||||||
Short term investments
|
4,052 | - | - | 4,052 | ||||||||||||
Blended equity & debt1
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- | 49,534 | - | 49,534 | ||||||||||||
US equity securities
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||||||||||||||||
AT&T common stock
|
508,182 | - | - | 508,182 | ||||||||||||
Index stock fund2
|
- | 99,817 | - | 99,817 | ||||||||||||
Futures
|
29 | - | - | 29 | ||||||||||||
Mutual funds – large cap
|
215,150 | - | - | 215,150 | ||||||||||||
Mutual funds – mid cap
|
243,916 | - | - | 243,916 | ||||||||||||
Mutual funds – small cap
|
115,763 | - | - | 115,763 | ||||||||||||
Fixed income securities:
|
||||||||||||||||
Bond index fund3
|
- | 13,378 | - | 13,378 | ||||||||||||
Short term investments
|
1,943 | (342 | ) | - | 1,601 | |||||||||||
Futures
|
(31 | ) | - | - | (31 | ) | ||||||||||
Corporate debt instruments
|
||||||||||||||||
Asset backed securities
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- | 1,644 | - | 1,644 | ||||||||||||
Commercial mortgage backed securities
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- | 1,699 | - | 1,699 | ||||||||||||
Collateralized mortgage obligations
|
- | 7,788 | - | 7,788 | ||||||||||||
Other corporate debt instruments
|
- | 37,560 | - | 37,560 | ||||||||||||
U.S. government securities
|
||||||||||||||||
Asset backed securities
|
- | 9,502 | - | 9,502 | ||||||||||||
Other U.S. government securities
|
- | 64,540 | - | 64,540 | ||||||||||||
Total assets at fair value
|
$ | 1,091,755 | $ | 285,120 | $ | - | $ | 1,376,875 |
Plan Assets at Fair Value as of December 31, 2010
|
||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||
Interest bearing cash
|
$ | 5,210 | $ | - | $ | - | $ | 5,210 | ||||
Short term investments
|
7,261 | - | - | 7,261 | ||||||||
Blended equity & debt1
|
- | 45,369 | - | 45,369 | ||||||||
US equity securities
|
||||||||||||
AT&T common stock
|
523,390 | - | - | 523,390 | ||||||||
Index stock fund2
|
- | 104,242 | - | 104,242 | ||||||||
Futures
|
122 | - | - | 122 | ||||||||
Mutual funds – large cap
|
259,314 | - | - | 259,314 | ||||||||
Mutual funds – mid cap
|
269,957 | - | - | 269,957 | ||||||||
Mutual funds – small cap
|
142,612 | - | - | 142,612 | ||||||||
Fixed income securities:
|
||||||||||||
Bond index fund3
|
- | 13,258 | - | 13,258 | ||||||||
Short term investments
|
1,708 | 30 | - | 1,738 | ||||||||
Futures
|
- | 76 | - | 76 | ||||||||
Corporate debt instruments
|
||||||||||||
Asset backed securities
|
- | 2,321 | - | 2,321 | ||||||||
Commercial mortgage backed securities
|
- | 1,667 | - | 1,667 | ||||||||
Collateralized mortgage obligations
|
- | 8,238 | - | 8,238 | ||||||||
Other corporate debt instruments
|
- | 24,201 | - | 24,201 | ||||||||
U.S. government securities
|
||||||||||||
Asset backed securities
|
- | 10,546 | - | 10,546 | ||||||||
Other U.S. government securities
|
- | 54,517 | - | 54,517 | ||||||||
Other investments
|
- | 14,345 | - | 14,345 | ||||||||
Total assets at fair value
|
$ | 1,209,574 | $ | 278,810 | $ | - | $ | 1,488,384 |
1 |
This category includes common/collective trust funds also known as LifePath Portfolios which are well diversified portfolios that adjust the mix of the various underlying investments over time. The change in allocation of investments is designed to move from a more aggressive investment strategy to a more conservative strategy as the participants come closer to retirement. The year associated with the fund identification denotes the projected year of retirement of the participant selecting the fund. There are currently no redemption restrictions on these investments. The fair value of the investments in this category have been estimated using the net asset value per share.
|
2 |
This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Standard and Poor's Composite Stock Price Index of 500 stocks (the “S&P 500®”). There are currently no redemption restrictions on this investment. The fair value of the investment in this category has been estimated using the net asset value per share.
|
3 |
This category includes a common/collective trust fund with an objective to approximate the overall performance of the Barclays Capital Aggregate Bond Index. There are currently no redemption restrictions on these investments. The fair value of the investments in this category have been estimated using the net asset value per share.
|
|
December 31,
|
|||||||
|
2011
|
2010
|
||||||
AT&T Savings Plan Master Trust (AT&T Master Trust)
|
86.7 | % | 86.6 | % | ||||
AT&T Savings Master Trust (Master Trust)
|
6.1 | % | 6.3 | % | ||||
BellSouth Savings and Security Plan
|
7.2 | % | 7.1 | % | ||||
Total
|
100.0 | % | 100.0 | % |
|
AT&T Total
Return Bond
Fund
|
|
AT&T U.S.
Stock Fund
|
|
AT&T
International
Stock Fund
|
|
AT&T
Stable Value
Fund
|
|
Group
Trust
|
||||||||||
Interest bearing cash
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
2,824
|
|
|
$
|
-
|
|
|
$
|
2,824
|
|
Common/collective trust
funds
|
|
-
|
|
|
|
420,247
|
|
|
|
166,567
|
|
|
|
-
|
|
|
|
586,814
|
|
103-12 investment entities
|
|
-
|
|
|
|
-
|
|
|
|
102,904
|
|
|
|
-
|
|
|
|
102,904
|
|
Equities - common stock
|
|
-
|
|
|
|
1,535,614
|
|
|
|
151,924
|
|
|
|
-
|
|
|
|
1,687,538
|
|
Equities - preferred stock
|
|
-
|
|
|
|
-
|
|
|
|
2,179
|
|
|
|
-
|
|
|
|
2,179
|
|
Publicly traded
partnerships
|
|
-
|
|
|
|
4,378
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,378
|
|
Registered investment
companies
|
|
1,405,006
|
|
|
|
43,068
|
|
|
|
1,956
|
|
|
|
547
|
|
|
|
1,450,577
|
|
Investment contracts
(at fair value):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Guaranteed investment
contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
6,222
|
|
|
|
6,222
|
|
Synthetic GICs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing cash
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
58
|
|
|
|
58
|
|
Corporate and other
bonds and notes
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,641,392
|
|
|
|
2,641,392
|
|
Registered investment
companies
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
819,425
|
|
|
|
819,425
|
|
Futures
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(383)
|
|
|
|
(383)
|
|
Government securities
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,019,599
|
|
|
|
4,019,599
|
|
Wrapper contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,252
|
|
|
|
2,252
|
|
Group Trust investments
at fair value
|
|
1,405,006
|
|
|
|
2,003,307
|
|
|
|
428,354
|
|
|
|
7,489,112
|
|
|
|
11,325,779
|
|
Unsettled trades and other
|
|
3,942
|
|
|
|
(2,022)
|
|
|
|
793
|
|
|
|
(175,832)
|
|
|
|
(173,119)
|
|
Adjustment from fair value
to contract value for fully
benefit-responsive
investment contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(383,199)
|
|
|
|
(383,199)
|
|
Group Trust net assets
|
$
|
1,408,948
|
|
|
$
|
2,001,285
|
|
|
$
|
429,147
|
|
|
$
|
6,930,081
|
|
|
$
|
10,769,461
|
|
Plan's percentage
ownership interest
of investments
|
|
-
|
%
|
|
|
-
|
%
|
|
|
-
|
%
|
|
|
11.3
|
%
|
|
|
7.2
|
%
|
|
AT&T Total
Return Bond
Fund
|
|
AT&T U.S.
Stock Fund
|
|
AT&T
International
Stock Fund
|
|
AT&T
Stable Value
Fund
|
|
Group
Trust
|
||||||||||
Interest bearing cash
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
3,669
|
|
|
$
|
-
|
|
|
$
|
3,669
|
|
Common/collective trust
funds
|
|
-
|
|
|
|
815,433
|
|
|
|
218,702
|
|
|
|
-
|
|
|
|
1,034,135
|
|
103-12 investment entities
|
|
-
|
|
|
|
-
|
|
|
|
47,732
|
|
|
|
-
|
|
|
|
47,732
|
|
Equities - common stock
|
|
-
|
|
|
|
1,378,536
|
|
|
|
271,343
|
|
|
|
-
|
|
|
|
1,649,879
|
|
Equities - preferred stock
|
|
-
|
|
|
|
-
|
|
|
|
4,237
|
|
|
|
-
|
|
|
|
4,237
|
|
Equities - loaned
|
|
-
|
|
|
|
(69)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(69)
|
|
Publicly traded
partnerships
|
|
-
|
|
|
|
3,676
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,676
|
|
Registered investment
companies
|
|
1,326,799
|
|
|
|
36,762
|
|
|
|
2,120
|
|
|
|
545
|
|
|
|
1,366,226
|
|
Investment contracts
(at fair value):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Guaranteed investment
contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
27,223
|
|
|
|
27,223
|
|
Synthetic GICs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing cash
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
36,594
|
|
|
|
36,594
|
|
Corporate preferred
stock
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,311
|
|
|
|
3,311
|
|
Corporate and other
bonds and notes
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,264,699
|
|
|
|
3,264,699
|
|
Registered investment
companies
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
614,215
|
|
|
|
614,215
|
|
Futures
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
81
|
|
|
|
81
|
|
Government securities
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,468,987
|
|
|
|
3,468,987
|
|
Wrapper contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,609
|
|
|
|
15,609
|
|
Market value of securities
on loan
|
|
-
|
|
|
|
69
|
|
|
|
-
|
|
|
|
-
|
|
|
|
69
|
|
Collateral received for
securities loaned
|
|
-
|
|
|
|
71
|
|
|
|
-
|
|
|
|
-
|
|
|
|
71
|
|
Group Trust investments
at fair value
|
|
1,326,799
|
|
|
|
2,234,478
|
|
|
|
547,803
|
|
|
|
7,431,264
|
|
|
|
11,540,344
|
|
Unsettled trades and other
|
|
5,425
|
|
|
|
(609)
|
|
|
|
1,381
|
|
|
|
(446,763)
|
|
|
|
(440,566)
|
|
Adjustment from fair value
to contract value for fully
benefit-responsive
investment contracts
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(311,368)
|
|
|
|
(311,368)
|
|
Obligation to return
collateral on
loaned securities
|
|
-
|
|
|
|
(71)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(71)
|
|
Group Trust net assets
|
$
|
1,332,224
|
|
|
$
|
2,233,798
|
|
|
$
|
549,184
|
|
|
$
|
6,673,133
|
|
|
$
|
10,788,339
|
|
Plan's percentage
ownership interest
of investments
|
|
-
|
%
|
|
|
-
|
%
|
|
|
-
|
%
|
|
|
11.5
|
%
|
|
|
7.1
|
%
|
|
AT&T Total
Return Bond
Fund
|
AT&T U.S.
Stock Fund
|
|
AT&T
International
Stock Fund
|
|
AT&T
Stable Value
Fund
|
|
Group
Trust
|
|||||||||||
Interest bearing cash
|
$
|
-
|
|
$
|
-
|
|
|
$
|
(9,624)
|
|
|
$
|
-
|
|
|
$
|
(9,624)
|
|
|
Common/collective
trust funds
|
|
-
|
|
|
(57,223)
|
|
|
|
(37,204)
|
|
|
|
-
|
|
|
|
(94,427)
|
|
|
103-12 investment entities
|
|
-
|
|
|
-
|
|
|
|
(9,893)
|
|
|
|
-
|
|
|
|
(9,893)
|
|
|
Equities
|
|
-
|
|
|
1,555
|
|
|
|
(23,887)
|
|
|
|
-
|
|
|
|
(22,332)
|
|
|
Publicly traded
partnerships
|
|
-
|
|
|
558
|
|
|
|
-
|
|
|
|
-
|
|
|
|
558
|
|
|
Registered investment
companies
|
|
18,568
|
|
|
(1)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
18,567
|
|
|
Total net appreciation/
(depreciation) in
fair value of Group
Trust Investments
|
$
|
18,568
|
|
$
|
(55,111)
|
|
|
$
|
(80,608)
|
|
|
$
|
-
|
|
|
$
|
(117,151)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
$
|
-
|
|
$
|
59
|
|
|
$
|
2,235
|
|
|
$
|
224,474
|
|
|
$
|
226,768
|
|
|
Dividends
|
|
50,496
|
|
|
20,255
|
|
|
|
6,199
|
|
|
|
-
|
|
|
|
76,950
|
|
|
Securities lending
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
|
2
|
|
|
|
2
|
|
|
Total investment
income of Group
Trust Investments
|
$
|
50,496
|
|
$
|
20,314
|
|
|
$
|
8,434
|
|
|
$
|
224,476
|
|
|
$
|
303,720
|
|
Group Trust Assets and Liabilities at Fair Value
|
||||||||||||||||
December 31, 2011
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Interest bearing cash
|
$ | 2,824 | $ | - | $ | - | $ | 2,824 | ||||||||
U.S. equity securities:
|
||||||||||||||||
U.S. common stock:
|
||||||||||||||||
Large cap
|
894,512 | - | - | 894,512 | ||||||||||||
Small cap
|
480,383 | - | - | 480,383 | ||||||||||||
Common stock – registered investment companies
|
43,068 | - | - | 43,068 | ||||||||||||
Common/collective trusts1
|
- | 420,247 | - | 420,247 | ||||||||||||
Publicly traded partnerships
|
4,378 | - | - | 4,378 | ||||||||||||
International equity securities:
|
||||||||||||||||
Common stock
|
312,643 | - | - | 312,643 | ||||||||||||
Common stock – registered investment companies
|
1,956 | - | - | 1,956 | ||||||||||||
Common/collective trusts2
|
- | 166,567 | - | 166,567 | ||||||||||||
Preferred stock
|
2,179 | - | - | 2,179 | ||||||||||||
103-12 investment entities3
|
- | 102,904 | - | 102,904 | ||||||||||||
Fixed income securities:
|
||||||||||||||||
Blackrock mutual fund
|
194,220 | - | - | 194,220 | ||||||||||||
WAMCO mutual fund
|
533,376 | - | - | 533,376 | ||||||||||||
PIMCO total return mutual fund
|
677,410 | - | - | 677,410 | ||||||||||||
Stable Value Fund:
|
||||||||||||||||
Common stock – registered investment companies
|
547 | 189 | - | 736 | ||||||||||||
Guaranteed investment contracts
|
- | 6,222 | - | 6,222 | ||||||||||||
Synthetic GICs:
|
||||||||||||||||
Interest bearing cash
|
- | 58 | - | 58 | ||||||||||||
Corporate and other bonds and notes:
|
||||||||||||||||
U.S. corporate bonds and notes
|
- | 1,355,424 | - | 1,355,424 | ||||||||||||
International corporate bonds and notes
|
- | 524,632 | - | 524,632 | ||||||||||||
Asset-backed securities
|
- | 361,303 | - | 361,303 | ||||||||||||
Collateralized mortgage obligations
|
- | 42,928 | - | 42,928 | ||||||||||||
Commercial mortgage-backed securities
|
- | 357,105 | - | 357,105 | ||||||||||||
Short term investment funds - registered
investment companies
|
819,236 | - | - | 819,236 | ||||||||||||
Futures
|
(383 | ) | - | - | (383 | ) | ||||||||||
Government securities:
|
||||||||||||||||
U.S. government4
|
171,066 | 3,804,094 | - | 3,975,160 | ||||||||||||
Municipals
|
- | 31,467 | - | 31,467 | ||||||||||||
Non U.S. government
|
- | 12,972 | - | 12,972 | ||||||||||||
Wrapper contracts
|
- | 2,252 | - | 2,252 | ||||||||||||
Total assets and liabilities at fair value
|
$ | 4,137,415 | $ | 7,188,364 | $ | - | $ | 11,325,779 |
1
|
The objective of these common/collective trust funds held in the AT&T U.S. Stock Fund is to deliver cost-effective, high-quality exposure to the U.S. equity market with close tracking of the Russell 3000 Index and to provide for liquidity. These common/collective trust funds have redemption restrictions limited to daily and weekly settlement. All of the common/collective trust funds are invested in U.S. equities, with the majority being Large cap. The fair value of the investment in this category has been estimated using the net asset value per share.
|
2
|
The objective of these common/collective trust funds held in the AT&T International Stock Fund is to provide a diversified fund that seeks exposure to the international markets. One fund seeks to deliver cost effective, high quality exposure to the international equity market tracking the ACWI ex US Index, and provide for liquidity. The other funds seek to provide returns in excess of the MSCI Emerging Markets Index. These common/collective trust funds have redemption restrictions limited to daily, weekly or monthly settlement and participants may be subject to short-term trading fees related to certain transactions. The fair value of the investment in this category has been estimated using the net asset value per share.
|
3
|
These are equity commingled funds that invest primarily in publically traded non-U.S. securities. The fair value of the investments in this category has been estimate using the net asset value per share reported by the fund manager. The funds are selected by AT&T, and AT&T determines the timing and amount of contributions/redemptions, redemptions occur at net asset value. These are open ended funds with no fund maturity dates.
|
4
|
Average duration of U.S. government securities is approximately 3 years.
|
Group Trust Assets and Liabilities at Fair Value
|
||||||||||||||||
December 31, 2010
|
||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Interest bearing cash
|
$ | 3,669 | $ | - | $ | - | $ | 3,669 | ||||||||
U.S. equity securities:
|
||||||||||||||||
U.S. common stock:
|
||||||||||||||||
Large cap
|
910,941 | - | - | 910,941 | ||||||||||||
Small cap
|
467,595 | - | - | 467,595 | ||||||||||||
Common stock – registered investment companies
|
36,762 | - | - | 36,762 | ||||||||||||
U.S. common stock – loaned
|
(69 | ) | - | - | (69 | ) | ||||||||||
Common/collective trusts1
|
- | 815,433 | - | 815,433 | ||||||||||||
Publicly traded partnerships
|
3,676 | - | - | 3,676 | ||||||||||||
International equity securities:
|
||||||||||||||||
Common stock
|
271,343 | - | - | 271,343 | ||||||||||||
Common stock – registered investment companies
|
2,120 | - | - | 2,120 | ||||||||||||
Common/collective trusts2
|
- | 218,702 | - | 218,702 | ||||||||||||
Preferred stock
|
4,237 | - | - | 4,237 | ||||||||||||
103-12 investment entities3
|
- | 47,732 | - | 47,732 | ||||||||||||
Fixed income securities:
|
||||||||||||||||
Blackrock mutual fund
|
111,357 | - | - | 111,357 | ||||||||||||
WAMCO mutual fund
|
378,428 | - | - | 378,428 | ||||||||||||
PIMCO total return mutual fund
|
837,014 | - | - | 837,014 | ||||||||||||
Stable Value Fund:
|
||||||||||||||||
Common stock – registered investment companies
|
545 | - | - | 545 | ||||||||||||
Guaranteed investment contracts
|
- | 27,223 | - | 27,223 | ||||||||||||
Synthetic GICs:
|
||||||||||||||||
Interest bearing cash
|
- | 36,594 | - | 36,594 | ||||||||||||
Corporate preferred stock
|
3,311 | - | - | 3,311 | ||||||||||||
Corporate and other bonds and notes:
|
||||||||||||||||
U.S. corporate bonds and notes
|
- | 1,417,533 | - | 1,417,533 | ||||||||||||
International corporate bonds and notes
|
- | 612,459 | - | 612,459 | ||||||||||||
Asset-backed securities
|
- | 619,982 | - | 619,982 | ||||||||||||
Collateralized mortgage obligations
|
- | 80,829 | - | 80,829 | ||||||||||||
Commercial mortgage-backed securities
|
- | 533,896 | - | 533,896 | ||||||||||||
Short term investment funds - registered
investment companies
|
614,215 | - | - | 614,215 | ||||||||||||
Futures
|
81 | - | - | 81 | ||||||||||||
Government securities:
|
||||||||||||||||
U.S. government4
|
53,911 | 3,325,640 | - | 3,379,551 | ||||||||||||
Municipals
|
59,528 | - | - | 59,528 | ||||||||||||
Other
|
1,035 | - | - | 1,035 | ||||||||||||
Non U.S. government
|
28,873 | - | - | 28,873 | ||||||||||||
Wrapper contracts
|
- | 15,609 | - | 15,609 | ||||||||||||
Market value of securities on loan:
|
||||||||||||||||
U.S. stock fund
|
69 | - | - | 69 | ||||||||||||
Collateral received for securities loaned
|
71 | - | - | 71 | ||||||||||||
Total assets and liabilities at fair value
|
$ | 3,788,712 | $ | 7,751,632 | $ | - | $ | 11,540,344 |
1
|
The objective of the common/collective trust funds held in the AT&T U.S. Stock Fund is to deliver high-quality, active exposure to the large-capitalization U.S. equity market with close tracking of the Russell 3000 Index, high-quality and cost-effective index-based solutions to institutional investors and to provide for liquidity. These common/collective trust funds have redemption restrictions limited to daily and monthly settlement. All of the common/collective trust funds are invested in either Large-cap or Mid-cap equities, with the majority being Large cap. The fair value of the investment in this category has been estimated using the net asset value per share.
|
2
|
The objective of the common/collective trust funds held in the AT&T International Stock Fund is to provide a diversified fund that seeks to provide returns in excess of the international markets as represented by the All Country World Index U.S. index. The five common/collective trust funds have redemption restrictions limited to daily, weekly or monthly. All but one of these funds are invested in developed countries (i.e., developed: Europe, Japan, UK, Australia, etc.). The fair value of the investment in this category has been estimated using the net asset value per share.
|
3
|
This is an equity commingled fund that invests primarily in publically traded non-U.S. securities. The fair value of the investments in this category has been estimated using the net asset value per share reported by the fund manager. The fund is selected by AT&T, and AT&T determines the timing and amount of contributions/redemptions, redemptions occur at net asset value. This is an open ended fund with no fund maturity date.
|
4
|
Average duration of U.S. government securities is approximately 3 years.
|
|
Year Ended
|
|||
|
December 31, 2011
|
|||
Futures contracts
|
$ | 1,038 | ||
Forward foreign currency exchange rate contracts
|
$ | (995 | ) |
|
Year Ended
|
|||
|
December 31, 2011
|
|||
Futures contracts
|
$ | (24 | ) |
Type of Contract
|
Number of
Contracts
Buy/(Sell)
|
Expiration
|
Notional
Value
|
Fair Value
|
||||||||||||
US Treasury Bond Future
|
(255 | ) | 3/2012 | $ | (36,927 | ) | $ | (552 | ) | |||||||
US Treasury Bond Future
|
(15 | ) | 3/2012 | (2,172 | ) | (22 | ) | |||||||||
US Treasury Bond Future
|
(10 | ) | 3/2012 | (1,448 | ) | (35 | ) | |||||||||
US 10-Year Treasury Note Future
|
180 | 3/2012 | 23,603 | 317 | ||||||||||||
US 5-Year Treasury Note Future
|
107 | 3/2012 | 13,189 | 8 | ||||||||||||
US 2-Year Treasury Note Future
|
191 | 3/2012 | 42,124 | 25 | ||||||||||||
US 2-Year Treasury Note Future
|
700 | 3/2012 | 154,383 | 98 | ||||||||||||
US Ultra Bond Future
|
(132 | ) | 3/2012 | (21,145 | ) | (138 | ) | |||||||||
US Ultra Bond Future
|
(18 | ) | 3/2012 | (2,883 | ) | (84 | ) | |||||||||
Total
|
$ | 168,724 | $ | (383 | ) |
Type of Contract
|
Number of
Contracts
Buy/(Sell)
|
Expiration
|
Notional
Value
|
Fair Value
|
||||||||||||
90-Day EuroDollar Future
|
(405 | ) | 3/2012 | $ | (100,288 | ) | $ | (147 | ) | |||||||
U.S. Treasury Bond Future
|
(184 | ) | 3/2011 | (22,471 | ) | 630 | ||||||||||
U.S. 10-Year Treasury Notes Future
|
(151 | ) | 3/2011 | (18,186 | ) | (61 | ) | |||||||||
U.S. 5-Year Treasury Notes Future
|
283 | 3/2011 | 33,314 | (5 | ) | |||||||||||
U.S. 2-Year Treasury Notes Future
|
170 | 3/2011 | 37,214 | (19 | ) | |||||||||||
U.S Ultra Bond Future
|
(12 | ) | 3/2011 | (1,525 | ) | 42 | ||||||||||
U.S. Treasury Bond Future
|
(45 | ) | 3/2011 | (5,496 | ) | 129 | ||||||||||
U.S. 10-Year Treasury Notes Future
|
195 | 3/2011 | 23,485 | (770 | ) | |||||||||||
U.S. 2-Year Treasury Notes Future
|
402 | 3/2011 | 88,000 | (57 | ) | |||||||||||
U.S Ultra Bond Future
|
(160 | ) | 3/2011 | (20,335 | ) | 339 | ||||||||||
Total
|
$ | 13,712 | $ | 81 |
Type of Contract
|
Number of
Contracts
Buy/(Sell)
|
Expiration
|
Notional
Value
|
Fair
Value
|
||||||||||||
S&P e-mini 500 Index Futures U.S.
|
118 | 3/2012 | $ | 7,390 | $ | 29 | ||||||||||
U.S. Treasury Bond Future
|
(26 | ) | 3/2012 | (3,409 | ) | (31 | ) | |||||||||
Total
|
$ | 3,981 | $ | (2 | ) |
Type of Contract
|
Number of
Contracts
Buy/(Sell)
|
Expiration
|
Notional
Value
|
Fair
Value
|
|||||||||||
S&P e-mini 500 Index Futures U.S.
|
103 | 3/2011 | $ | 6,453 | $ | 122 | |||||||||
U.S. Treasury Bond Future
|
(23 | ) | 3/2011 | (2,770 | ) | 76 | |||||||||
Total
|
$ | 3,683 | $ | 198 |
|
Notional Value
|
Fair Value
|
|||||||||||||
|
2011
|
2010
|
2011
|
2010
|
|||||||||||
Derivative assets
|
$ | 14,504 | $ | 105,795 | $ | 7 | $ | 671 | |||||||
Derivative liabilities
|
$ | 14,504 | $ | 105,795 | $ | (68 | ) | $ | 408 |
NOTE 5. RELATED PARTY TRANSACTIONS
|
|
2011
|
2010
|
||||||
Net Assets Available for Benefits per the financial statements
|
$ | 2,197,734 | $ | 2,297,363 | ||||
Adjustment from contract value to fair value for fully benefit-responsive
investment contracts
|
43,159 | 35,869 | ||||||
Distributions payable to participants
|
(411 | ) | (319 | ) | ||||
Net Assets Available for Benefits per the Form 5500
|
$ | 2,240,482 | $ | 2,332,913 |
Distributions to participants per the financial statements
|
$ | 271,813 | ||
Distributions payable to participants at December 31, 2010
|
(319 | ) | ||
Distributions payable to participants at December 31, 2011
|
411 | |||
Distributions to participants per the Form 5500
|
$ | 271,905 |
Total additions per the financial statements
|
$ | 176,620 | ||
Adjustment from contract value to fair value for fully benefit-responsive investment
contracts at December 31, 2011
|
43,159 | |||
Adjustment from contract value to fair value for fully benefit-responsive investment
contracts at December 31, 2010
|
(35,869 | ) | ||
Total income per the Form 5500
|
$ | 183,910 | ||
|
||||
Fully benefit-responsive contracts are recorded on the Form 5500 at fair value versus contract value on the financial
statements.
|
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
Large Cap U.S. Stock Index Fund
|
|
|
||||
NORTHERN TRUST S&P 500 INDEX
STOCK FUND
|
COMMON/COLLECTIVE TRUST FUND:
20,812 UNITS
|
$ | 78,978 | |||
|
|
|||||
Balanced Fund
|
|
|||||
DREYFUS GOVERNMENT CASH
MANAGEMENT FUND
|
REGISTERED INVESTMENT COMPANY:
3,324,445 UNITS
|
3,324 | ||||
US TREASURY BILL
|
03/08/2012 DD 03/10/2011
|
750 | ||||
US TREASURY BILL
|
03/22/2012 DD 09/22/2011
|
200 | ||||
FUTURES CONTRACT
|
S&P 500 E-MINI INDEX FUTURE
EXP MAR 12
|
29 | ||||
FUTURES CONTRACT
|
US 10YR NOTE FUTURE
EXP MAR 12
|
(31 | ) | |||
NORTHERN TRUST S&P 500 INDEX
STOCK FUND
|
COMMON/COLLECTIVE TRUST FUND:
5,491 UNITS
|
20,839 | ||||
NORTHERN TRUST QM AGGREGATE
BOND INDEX FUND
|
COMMON/COLLECTIVE TRUST FUND:
28,851 UNITS
|
13,378 | ||||
Total Balanced Fund
|
|
38,489 | ||||
|
|
|||||
Registered Investment Company
|
|
|||||
FIDELITY GROWTH AND INCOME
PORTFOLIO
|
REGISTERED INVESTMENT COMPANY:
2,372,216 UNITS
|
43,222 | ||||
VANGUARD GROWTH INDEX
FUND
|
REGISTERED INVESTMENT COMPANY:
2,206,677 UNITS
|
70,150 | ||||
U.S. LARGE CAP VALUE
PORTFOLIO II
|
REGISTERED INVESTMENT COMPANY:
9,971,731 UNITS
|
90,743 | ||||
DFA U.S. SMALL CAP VALUE
PORTFOLIO
|
REGISTERED INVESTMENT COMPANY:
4,998,386 UNITS
|
115,763 | ||||
DFA INTERNATIONAL VALUE
PORTFOLIO II
|
REGISTERED INVESTMENT COMPANY:
16,636,237 UNITS
|
81,185 | ||||
T ROWE PRICE MID-CAP GROWTH
FUND
|
REGISTERED INVESTMENT COMPANY:
6,462,106 UNITS
|
173,766 | ||||
Total Registered Investment Companies
|
|
574,829 | ||||
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
LifePath Funds
|
|
|
||||
LIFEPATH RETIREMENT FUND
|
COMMON/COLLECTIVE TRUST FUND:
936,226 UNITS
|
12,892 | ||||
LIFEPATH 2020 FUND
|
COMMON/COLLECTIVE TRUST FUND:
1,207,087 UNITS
|
15,801 | ||||
LIFEPATH 2030 FUND
|
COMMON/COLLECTIVE TRUST FUND:
1,002,296 UNITS
|
12,649 | ||||
LIFEPATH 2040 FUND
|
COMMON/COLLECTIVE TRUST FUND:
578,047 UNITS
|
7,035 | ||||
LIFEPATH 2050 FUND
|
COMMON/COLLECTIVE TRUST FUND:
130,828 UNITS
|
1,157 | ||||
Total LifePath Age-Based Retirement Funds
|
|
49,534 | ||||
|
|
|||||
AT&T Stock Fund
|
|
|||||
AT&T COMMON STOCK *
|
16,804,941 SHARES
|
508,182 | ||||
DREYFUS GOVERNMENT CASH
MANAGEMENT FUND
|
REGISTERED INVESTMENT COMPANY:
728,110 UNITS
|
728 | ||||
Total AT&T Stock Fund
|
|
508,910 | ||||
|
|
|||||
Bond Fund
|
|
|||||
DREYFUS GOVERNMENT CASH
MANAGEMENT FUND
|
VAR RT 12/31/2075 DD 06/03/97
|
993 | ||||
MORGAN ST REV REPO
|
0.070% 01/03/2012 DD 12/29/11
|
3,500 | ||||
SLH PROXY LONG EXPOSURE
|
FNMA TBA 10/14/2008
|
8 | ||||
AT&T INC GLOBAL NT *
|
4.950% 01/15/2013 DD 12/06/07
|
313 | ||||
COMMIT TO PUR FNMA SF MTG
|
3.500% 01/01/2042 DD 01/01/12
|
32,909 | ||||
COMMIT TO PUR FNMA SF MTG
|
4.000% 12/01/2041 DD 12/01/11
|
2,627 | ||||
COMMIT TO PUR FNMA SF MTG
|
4.000% 01/01/2042 DD 01/01/12
|
1,050 | ||||
COMMIT TO PUR FNMA SF MTG
|
4.5000% 01/01/2027 DD 01/01/12
|
1,066 | ||||
ALLSTATE LIFE GLOBAL FDG SECD
|
5.375% 04/30/2013 DD 04/30/08
|
106 | ||||
AMERICAN EXPRESS CR CORP MTN
|
5.875% 05/02/2013 DD 06/02/08
|
105 | ||||
AMERICAN EXPRESS BANK FSB
|
VAR RT 06/12/2017 DD 06/12/07
|
909 | ||||
AMERICAN INTL GRP I
|
5.850% 01/16/2018 DD 12/12/07
|
587 | ||||
AMERICAN INTL GRP I
|
6.250% 05/01/2036 DD 04/20/06
|
448 | ||||
AMERICAN INTL GRP I
|
VAR RT 05/15/2068 DD 05/15/09
|
356 | ||||
AMERICAN MUN PWR-OHIO INC
|
6.449% 02/15/2044 DD 12/09/09
|
1,163 | ||||
AMGEN INC SR NT
|
6.150% 06/01/2018 DD 05/23/08
|
698 | ||||
ANHEUSER-BUSCH INBEV
WORLDWIDE
|
VAR RT 01/27/2014 DD 01/27/11
|
1,002 | ||||
BANK OF AMERICA CORP
|
VAR RT 10/14/2016 DD 10/26/06
|
786 | ||||
BANK AMER FDG CORP 05-D CL A-1
|
VAR RT 05/25/2035 DD 06/01/05
|
174 | ||||
BANK OF AMERICA CORP
|
5.650% 05/01/2018 DD 05/02/08
|
191 | ||||
BANK OF AMERICA CORP
|
6.500% 08/01/2016 DD 07/28/09
|
604 | ||||
BAY AREA TOLL AUTH CALIF TOLL
|
6.263% 04/01/2049 DD 11/05/09
|
1,306 |
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
BEAR STEARNS ARM TR 02-11 IA2
|
VAR RT 01/25/2033 DD 12/01/02
|
11 | ||||
BEAR STEARNS 2005-12 I-3-A-1
|
VAR RT 02/25/2036 DD 12/01/05
|
76 | ||||
BEAR STEARNS COS LLC
|
VAR RT 11/21/2016 DD 11/21/06
|
896 | ||||
BUCKEYE OHIO TOB SETTLEMENT
|
5.875% 06/01/2030 DD 10/29/07
|
149 | ||||
CALIFORNIA ST
|
7.550% 04/01/2039 DD 04/28/09
|
1,224 | ||||
CARRINGTON MTG 06-NC5 CL A1
|
VAR RT 01/25/2037 DD 12/19/06
|
89 | ||||
CHICAGO ILL TRANSIT AUTH TRANS
|
6.899% 12/01/2040 DD 08/06/08
|
117 | ||||
CHICAGO ILL TRANSIT AUTH TRANS
|
6.899% 12/01/2040 DD 08/06/08
|
117 | ||||
CITIGROUP INC GLOBAL NT
|
5.850% 12/11/2034 DD 12/09/04
|
986 | ||||
CITIGROUP INC GLOBAL SR NT
|
5.500% 04/11/2013 DD 04/11/08
|
306 | ||||
CITIGROUP INC
|
8.500% 05/22/2019 DD 05/22/09
|
235 | ||||
CONNECTICUT ST
|
5.850% 03/15/2032 DD 04/30/08
|
368 | ||||
FIRST NATIONWIDE TRUST 3 1A1
|
6.750% 08/21/2031 DD 07/01/01
|
3 | ||||
CSMC 2006-C4 A3
|
5.467% 09/15/2039 DD 09/01/06
|
106 | ||||
EL PASO CORP
|
8.050% 10/15/2030 DD 10/11/00
|
583 | ||||
ENTERGY CORP
|
3.625% 09/15/2015 DD 09/16/10
|
203 | ||||
FHLMC POOL #E8-2712
|
6.000% 03/01/2016 DD 03/01/01
|
7 | ||||
FHLMC POOL #E8-2732
|
6.000% 03/01/2016 DD 03/01/01
|
7 | ||||
FHLMC POOL #E8-2776
|
6.000% 03/01/2016 DD 03/01/01
|
7 | ||||
FHLMC POOL #E8-4467
|
6.000% 07/01/2016 DD 07/01/01
|
7 | ||||
FHLMC POOL #E8-4717
|
6.000% 07/01/2016 DD 07/01/01
|
6 | ||||
FHLMC POOL #E0-0975
|
6.000% 05/01/2016 DD 05/01/01
|
9 | ||||
FNMA GTD REMIC P/T 11-127 FA
|
VAR RT 12/25/2041 DD 11/25/11
|
98 | ||||
FEDERAL HOME LOAN MTG CORP
|
4.875% 06/13/2018 DD 06/13/08
|
482 | ||||
FNMA POOL #0259990
|
5.500% 04/01/2034 DD 04/01/04
|
10 | ||||
FNMA POOL #0AI1605
|
4.000% 10/01/2041 DD 10/01/11
|
4,073 | ||||
FNMA POOL #0AI7920
|
4.000% 08/01/2041 DD 07/01/11
|
391 | ||||
FNMA POOL #0AJ0784
|
4.000% 09/01/2041 DD 09/01/11
|
5,258 | ||||
FNMA POOL #0AH1602
|
4.000% 10/01/2041 DD 10/01/10
|
108 | ||||
FNMA POOL #0AH7585
|
4.000% 03/01/2041 DD 03/01/11
|
582 | ||||
FNMA GTD REMIC MTG 03-W1 1A1
|
6.500% 12/25/2042 DD 01/01/03
|
76 | ||||
FNMA GTD REMIC P/T
|
5.000% 04/25/2033 DD 03/01/03
|
424 | ||||
FNMA POOL #0725425
|
5.500% 04/01/2034 DD 04/01/04
|
1,358 | ||||
FNMA POOL #0735227
|
5.500% 02/01/2035 DD 01/01/05
|
4 | ||||
FNMA POOL #0735288
|
5.000% 03/10/2035 DD 02/01/05
|
511 | ||||
FNMA POOL #0735896
|
6.000% 09/01/2035 DD 09/01/05
|
7 | ||||
FNMA POOL #0888222
|
6.000% 02/01/2037 DD 02/01/07
|
197 | ||||
FNMA POOL #0890220
|
5.500% 12/01/2039 DD 04/01/10
|
676 | ||||
FNMA POOL #0902355
|
6.000% 11/01/2036 DD 10/01/06
|
346 | ||||
FNMA POOL #0908728
|
6.000% 01/01/2037 DD 01/01/07
|
23 | ||||
FNMA POOL #0915042
|
5.500% 04/01/2022 DD 04/01/07
|
8 | ||||
FNMA POOL #0916965
|
6.000% 06/01/2037 DD 06/01/07
|
15 | ||||
FNMA POOL #0920654
|
6.000% 04/01/2037 DD 04/01/07
|
151 | ||||
FNMA POOL #0931196
|
4.500% 05/01/2024 DD 05/01/09
|
14 |
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
FNMA POOL #0931412
|
4.500% 06/01/2024 DD 06/01/09
|
707 | ||||
FNMA POOL #0941387
|
6.000% 06/01/2037 DD 06/01/07
|
241 | ||||
FNMA POOL #0941440
|
6.000% 07/01/2037 DD 07/01/07
|
35 | ||||
FNMA POOL #0941499
|
6.000% 06/01/2037 DD 06/01/07
|
47 | ||||
FNMA POOL #0943621
|
6.000% 08/01/2037 DD 08/01/07
|
164 | ||||
FNMA POOL #0949038
|
6.000% 09/01/2037 DD 09/01/07
|
81 | ||||
FNMA POOL #0952421
|
6.000% 09/01/2037 DD 09/01/07
|
255 | ||||
FNMA POOL #0952455
|
6.000% 09/01/2037 DD 09/01/07
|
69 | ||||
FNMA POOL #0966545
|
6.000% 10/01/2037 DD 12/01/07
|
100 | ||||
FNMA POOL #0969479
|
4.500% 01/01/2023 DD 01/01/08
|
366 | ||||
FNMA POOL #0983284
|
5.500% 05/01/2038 DD 05/01/08
|
679 | ||||
FNMA POOL #0990523
|
6.000% 09/01/2038 DD 09/01/08
|
881 | ||||
FNMA POOL #0995708
|
4.500% 04/01/2024 DD 04/01/09
|
22 | ||||
FNMA POOL #0AB3416
|
4.000% 08/01/2041 DD 07/01/11
|
45 | ||||
FNMA POOL #0AC2776
|
4.000% 09/01/2039 DD 09/01/09
|
7,293 | ||||
FNMA POOL #0MA0730
|
4.500% 04/01/2021 DD 03/01/11
|
865 | ||||
FNMA POOL #0AE0216
|
4.000% 08/01/2040 DD 07/01/10
|
1,051 | ||||
FNMA POOL #0AE0385
|
4.000% 09/01/2040 DD 09/01/10
|
2,102 | ||||
FNMA POOL #0AE1610
|
4.000% 10/01/2040 DD 09/01/10
|
125 | ||||
FNMA POOL #0AE6921
|
4.000% 11/01/2040 DD 11/01/10
|
2,025 | ||||
FNMA POOL #0AE7314
|
4.000% 11/01/2040 DD 11/01/10
|
888 | ||||
FNMA POOL #0AE9706
|
4.000% 12/01/2040 DD 11/01/10
|
645 | ||||
GSR MORTGAGE LOAN TRUST AR6 1A1
|
VAR RT 09/25/2035 DD09/01/05
|
421 | ||||
GENERAL ELECTRIC CAPITAL CORP
|
5.875% 01/14/2038 DD 01/14/08
|
742 | ||||
GOLDMAN SACHS GROUP INC/THE
|
VAR RT 03/22/2016 DD 03/22/06
|
863 | ||||
HSBC FINANCE CORP
|
VAR RT 06/01/2016 DD 05/30/06
|
837 | ||||
HSBC FINANCE CORP
|
VAR RT 01/15/2014 DD 11/21/06
|
921 | ||||
ILLINOIS ST
|
4.071% 01/01/2014 DD 01/15/10
|
103 | ||||
ILLINOIS ST
|
4.790% 04/01/2016 DD 04/26/10
|
939 | ||||
JP MORGAN CHASE & CO
|
VAR RT 09/30/2013 DD 09/30/10
|
990 | ||||
JP MORGAN CHASE & CO
|
6.625% 03/15/2012 DD 03/13/02
|
1,616 | ||||
JP MORGAN CHASE COMMER CB7 A4
|
VAR RT 01/12/2038 DD 12/01/03
|
201 | ||||
JP MORGAN CHASE COMMER LDP9 A3
|
5.336% 05/15/2047 DD 12/01/06
|
636 | ||||
JP MORGAN CHASE COMMER LDPX A3
|
5.420% 01/15/2049 DD 03/01/07
|
541 | ||||
KINDER MORGAN ENERGY PARTNERS
|
5.950% 02/15/2018 DD 02/12/08
|
1,599 | ||||
LEHMAN BROS MTN TR #00609
|
VAR RT 01/23/2009 DD 01/25/06
|
485 | ||||
LOS ANGELES CALIF UNI SCH DIST
|
5.750% 07/01/2034 DD 10/15/09
|
1,105 | ||||
ML CFC COML MTG 06-4 CL A3
|
VAR RT 12/12/2049 DD 12/01/06
|
215 | ||||
METROPOLITAN TRANS AUTH N Y
|
6.668% 11/15/2039 DD 01/13/10
|
1,227 | ||||
MORGAN STANLEY ABS CAP HE6 A2C
|
VAR RT 11/25/2035 DD 11/29/05
|
326 | ||||
MORGAN STANLEY
|
5.950% 12/28/2017 DD 12/28/07
|
381 | ||||
MORGAN STANLEY
|
VAR RT 10/15/2015 DD 10/21/05
|
841 | ||||
MORGAN STANLEY
|
VAR RT 05/14/2013 DD 05/14/10
|
960 | ||||
NEW JERSEY ST TRANSN TR FD
|
6.561% 12/15/2040 DD 01/14/10
|
1,268 | ||||
NISOURCE FINANCE CORP
|
6.125% 03/01/2022 DD 12/04/09
|
115 |
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
PHILIP MORRIS INTL INC NT
|
6.375% 05/16/2038 DD 05/16/08
|
130 | ||||
PRIME MTG TR 04-CL1 1A2
|
VAR RT 02/25/2034 DD 01/25/04
|
42 | ||||
PRIME MTG TR 04-CL1 2A2
|
VAR RT 02/25/2019 DD 01/25/04
|
3 | ||||
PRINCIPAL LIFE INCOME FUNDINGS
|
5.300% 04/24/2013 DD 04/24/08
|
105 | ||||
PRUDENTIAL FINANCIAL INC
|
6.625% 12/01/2037 DD 12/03/07
|
110 | ||||
PUBLIC PWR GENERATION AGY NEB
|
7.242% 01/01/2041 DD 07/16/09
|
115 | ||||
SLM STUDENT LN TR 7 CL A2
|
VAR RT 07/25/2017 DD 02/22/07
|
530 | ||||
SLM STUDENT LN TR 9 CL A
|
VAR RT 04/25/2023 DD 08/28/08
|
617 | ||||
SAN DIEGO CNTY CALIF WTR AUTH
|
6.138% 05/01/2049 DD 02/04/10
|
1,258 | ||||
SBA GTD PARTN CTFS 2003-20C 1
|
4.500% 03/01/2023 DD 03/12/03
|
3,789 | ||||
SBA GTD PARTN CTFS 2005-20B 1
|
4.625% 02/01/2025 DD 02/16/05
|
1,953 | ||||
SBA GTD PARTN CTFS 2008-20D 1
|
5.370% 04/01/2028 DD 04/16/08
|
1,276 | ||||
SBA GTD PARTN CTFS 2008-20E 1
|
5.490% 05/01/2028 DD 05/14/08
|
1,301 | ||||
SBA GTD PARTN CTFS 2008-20F 1
|
5.680% 06/01/2028 DD 06/11/08
|
591 | ||||
SBA GTD PARTN CTFS 2009-20A 1
|
5.720% 01/01/2029 DD 01/14/09
|
171 | ||||
SBA GTD PARTN CTFS 2008-10A 1
|
5.471% 03/10/2018 DD 03/26/08
|
421 | ||||
STATE STR CAP TR III
|
VAR RT 12/29/2049 DD 01/25/08
|
98 | ||||
STRUCTURED ASSET SECURITY WF1 A2
|
VAR RT 02/25/2037 DD 03/25/07
|
82 | ||||
STRUCTURED ASSET SECURITY 21A
1A1
|
VAR RT 01/25/2032 DD 12/01/01
|
4 | ||||
STRUCTURED ASSET SECURITY 1A 4A
|
VAR RT 02/25/2032 DD 01/01/02
|
5 | ||||
TARGET CORP NT
|
7.000% 01/15/2038 DD 01/17/08
|
559 | ||||
THORNBURG MTG SECUR 1 I1A
|
VAR RT 03/25/2044 DD 03/31/04
|
822 | ||||
TIME WARNER INC NEW NT
|
5.875% 11/15/2016 DD 11/13/06
|
807 | ||||
US TREAS-CPI INFLATION INDEX
|
2.000% 01/15/2026 DD 01/15/06
|
561 | ||||
US TREAS-CPI INFLATION INDEX
|
2.375% 01/15/2027 DD 01/15/07
|
870 | ||||
US TREAS-CPI INFLATION INDEX
|
2.125% 02/15/2040 DD 02/15/10
|
1,687 | ||||
US TREASURY NOTE
|
3.125% 05/15/2021 DD 05/15/11
|
670 | ||||
US TREASURY NOTE
|
2.125% 08/15/2021 DD 08/15/11
|
3,896 | ||||
US TREASURY NOTE
|
2.000% 11/15/2021 DD 11/15/11
|
2,630 | ||||
US TREASURY NOTE
|
0.875% 12/31/2016 DD 12/31/2011
|
902 | ||||
US TREASURY NOTE
|
1.375% 12/31/2018 DD 12/31/11
|
10,318 | ||||
UNITEDHEALTH GROUP INC SR NT
|
4.875% 02/15/2013 DD 02/07/08
|
312 | ||||
UNIVERSITY CALIF REGTS MED CTR
|
6.583% 05/15/2049 DD 12/17/09
|
1,202 | ||||
UNIVERSITY CALIF REVS
|
6.270% 05/15/2031 DD 08/27/09
|
330 | ||||
UNIVERSITY CALIF REVS
|
5.770% 05/15/2043 DD 08/27/09
|
1,133 | ||||
USB CAP IX NORMAL INCOME TR
|
VAR RT 04/15/2049 DD 03/17/06
|
70 | ||||
VIRGINIA ELEC & PWR CO SR NT
|
5.400% 04/30/2018 DD 04/17/08
|
358 | ||||
WAMU MORTGAGE PASS TH AR1 2A1A
|
VAR RT 01/25/2046 DD 01/01/06
|
6,227 | ||||
WACHOVIA CORP
|
5.625% 10/15/2016 DD 10/23/06
|
327 | ||||
WACHOVIA CORP
|
VAR RT 06/15/2017 DD 06/08/07
|
902 | ||||
WAL MART STORES INC NT
|
5.250% 09/01/2035 DD 08/31/05
|
598 | ||||
WELLS FARGO CAP X GTD CAP SECS
|
5.950% 12/15/2086 DD 12/05/06
|
401 | ||||
TBA CASH COLL BCY
|
VAR RT 01/01/2049 DD 07/01/08
|
(350 | ) |
BELLSOUTH SAVINGS AND SECURITY PLAN
|
||||||||
|
||||||||
EIN 58-1533433, PLAN NO. 004
|
||||||||
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
||||||||
December 31, 2011
|
||||||||
(Dollars in Thousands)
|
||||||||
|
|
|
|
|
|
|
|
|
|
Identity of Issue
|
|
Description of Investment
|
|
|
|
Current Value
|
|
COMMIT TO PUR FNMA SF MTG
|
4.000% 01/01/2042 DD 01/01/12
|
(27,312 | ) | ||||
|
COMMIT TO PUR FNMA SF MTG
|
5.500% 01/01/2042 DD 01/01/12
|
(2,178 | ) | ||||
|
COMMIT TO PUR FNMA SF MTG
|
4.000% 01/01/2042 DD 01/01/12
|
(2,202 | ) | ||||
|
Total Bond Fund
|
|
123,384 | |||||
|
|
|
||||||
Interest Bearing Cash
|
|
|||||||
|
DREYFUS GOVERNMENT CASH
MANAGEMENT FUND
|
VAR RT 12/31/2075 DD 06/03/97
|
2,751 | |||||
|
|
|
||||||
Loans to Plan Participants *
|
4.25% - 10.50% | 56,007 | ||||||
|
|
|||||||
|
Total
|
$ | 1,432,882 | |||||
|
|
|||||||
*
|
Party-in-Interest
|
BellSouth Savings and Security Plan
|
|
By AT&T Services, Inc.,
Plan Administrator for the Foregoing Plan
|
By
|
/s/ Paul W. Stephens
|
Paul W. Stephens
|
|
Senior Vice President and Controller
|
|
Exhibit identified below, Exhibit 23 is filed herein as an exhibit hereto.
|
23
|
Consent of Independent Registered Public Accounting Firm
|