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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Air Products and Chemicals Inc | NYSE:APD | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.61 | 0.25% | 246.48 | 247.88 | 245.62 | 247.43 | 35,028 | 14:48:38 |
x
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
A.
|
Full title of the Plan and the address of the Plan, if different from that of the issuer named below:
|
B.
|
Name of issuer of the securities held pursuant to the Plan and the address of its principal executive offices:
|
|
|
Financial Statements
|
|
|
|
Supplemental Schedule
|
|
|
|
|
2018
|
2017
|
||||
Assets
|
|
|
||||
Investments at fair value:
|
|
|
||||
Interest-bearing cash
|
$
|
3,237
|
|
$
|
4,273
|
|
Money Market Fund
|
32,017
|
|
32,695
|
|
||
Life Cycle Funds
|
367,642
|
|
306,197
|
|
||
Corporate Bond Fund
|
75,590
|
|
84,801
|
|
||
Bond Index Fund
|
19,465
|
|
19,809
|
|
||
Balanced Fund
|
124,547
|
|
124,383
|
|
||
S&P 500 Index Fund
|
199,546
|
|
178,583
|
|
||
Extended Market Index Fund
|
31,277
|
|
26,536
|
|
||
Mid-Cap Core Fund
|
60,053
|
|
56,274
|
|
||
Large Cap Value Fund
|
179,814
|
|
176,397
|
|
||
Large Cap Growth Fund
|
123,884
|
|
84,710
|
|
||
International Stock Funds
|
94,887
|
|
96,193
|
|
||
Small Cap Core Fund
|
113,895
|
|
103,982
|
|
||
Company Stock
|
397,301
|
|
375,513
|
|
||
Versum Materials Stock
|
—
|
|
28,968
|
|
||
Self-Directed Brokerage Account
|
57,011
|
|
57,472
|
|
||
Total investments at fair value
|
1,880,166
|
|
1,756,786
|
|
||
Fully benefit-responsive investment contracts at contract value:
|
|
|
||||
Fixed Income Securities Fund
|
169,226
|
|
168,894
|
|
||
Receivables:
|
|
|
||||
Notes receivable from participants
|
15,011
|
|
14,046
|
|
||
Accrued interest and dividends
|
369
|
|
370
|
|
||
Other receivables
|
19
|
|
3,716
|
|
||
Total receivables
|
15,399
|
|
18,132
|
|
||
Total assets
|
2,064,791
|
|
1,943,812
|
|
||
Liabilities
|
|
|
||||
Payables and accrued liabilities
|
188
|
|
153
|
|
||
Total liabilities
|
188
|
|
153
|
|
||
Net assets available for benefits
|
$
|
2,064,603
|
|
$
|
1,943,659
|
|
|
2018
|
||
Additions:
|
|
||
Participant contributions
|
$
|
45,445
|
|
Company matching contributions
|
13,963
|
|
|
Company core contributions, net of forfeitures
|
12,507
|
|
|
Interest income
|
684
|
|
|
Dividend income
|
44,608
|
|
|
Net appreciation in fair value of investments
|
153,006
|
|
|
Total additions
|
270,213
|
|
|
Deductions:
|
|
||
Distributions to participants
|
150,102
|
|
|
Administrative expenses
|
310
|
|
|
Total deductions
|
150,412
|
|
|
Net increase prior to plan transfer
|
119,801
|
|
|
Transfers in
|
1,143
|
|
|
Net assets available for benefits:
|
|
||
Beginning of year
|
1,943,659
|
|
|
End of year
|
$
|
2,064,603
|
|
(1)
|
Description of the Plan
|
(a)
|
General
|
(b)
|
Administration
|
(c)
|
Participant Accounts
|
(d)
|
Contributions
|
•
|
4% of base pay if credited service is less than 10 years;
|
•
|
5% of base pay if credited service is between 10 and 19 years; or
|
•
|
6% of base pay if credited service is 20 years or more.
|
•
|
$0.75 for each $1.00 of the first 4% of base pay that is contributed; plus
|
•
|
$0.50 for each $1.00 of the next 2% of base pay that is contributed.
|
•
|
$0.75 for each $1.00 of the first 3% of base pay that is contributed; plus
|
•
|
$0.25 for each $1.00 of the next 3% of base pay that is contributed.
|
(e)
|
Contribution Percentage Changes
|
(f)
|
Rollovers
|
(g)
|
Vesting
|
(h)
|
Forfeitures
|
(i)
|
Withdrawal Provisions
|
(a)
|
a participant may withdraw all or a portion of after-tax contributions, which have been in the Plan for at least two years;
|
(b)
|
after withdrawing all amounts described in subparagraph (a), a participant may withdraw any company matching contributions, which have been in the Plan for at least two years;
|
(c)
|
after withdrawing all amounts described in subparagraphs (a) and (b), a participant may withdraw before-tax contributions, Roth 401(k) contributions, and then vested Company Core Contributions upon:
|
(i)
|
attaining age 59½;
|
(ii)
|
providing satisfactory evidence that the withdrawal is required on account of a “hardship.” Hardship withdrawals will be limited to situations in which a participant has an immediate and heavy financial need and a distribution from the Plan is necessary to meet that need. A plan loan must be pursued first. A hardship withdrawal may be made without regard to whether any other withdrawal has occurred within the last 12 months and will result in the suspension of the right to contribute to the Plan for the next 6 months;
|
(iii)
|
a Qualified Reservist Distribution; or
|
(iv)
|
a distribution pursuant to the Heroes Earnings Assistance and Relief Tax Act of 2008.
|
(j)
|
Notes Receivable from Participants
|
(k)
|
Investment Directions
|
(a)
|
Vanguard Total International Stock Index Fund Institutional Shares
– This mutual fund seeks to track the performance of the MSCI All Country World ex USA Investable Market Index, an index designed to measure equity market performance in developed and emerging markets, excluding the United States. The fund employs a “passive management” or indexing-investment approach.
|
(b)
|
Fidelity International Discovery Commingled Pool
– This collective investment trust seeks long-term growth of capital by investing primarily in non-U.S. securities and common stocks.
|
(l)
|
Versum Materials Stock
|
(2)
|
Summary of Significant Accounting Policies
|
(a)
|
Basis of Accounting
|
(b)
|
Use of Estimates
|
(c)
|
Investment Valuation and Income Recognition
|
(d)
|
Risks and Uncertainties
|
(e)
|
Payment of Benefits
|
(3)
|
Fair Value Measurements
|
•
|
Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.
|
•
|
Level 2 – Inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability.
|
•
|
Level 3 – Inputs that are unobservable for the asset or liability based on the Company’s own assumptions (about the assumptions market participants would use in pricing the asset or liability).
|
(a)
|
Mutual Funds
|
(b)
|
Company
Stock
|
(c)
|
Versum Materials Stock
|
(d)
|
Commingled Funds
|
(e)
|
Fixed Income Securities Fund
|
(f)
|
Investments Measured at Fair Value
|
|
30 September 2018
|
||||||||||||||
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Interest-bearing Cash
|
$
|
3,237
|
|
|
$
|
3,237
|
|
|
|
|
|
|
|
||
Money Market Fund
|
32,017
|
|
|
32,017
|
|
|
|
|
|
|
|
||||
Mutual Funds
|
692,608
|
|
|
692,608
|
|
|
|
|
|
|
|
||||
Company Stock
|
397,301
|
|
|
397,301
|
|
|
|
|
|
|
|
||||
Commingled Funds
|
755,003
|
|
|
755,003
|
|
|
|
|
|
|
|
||||
Total investments at fair value
|
$
|
1,880,166
|
|
|
$
|
1,880,166
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Investments measured at contract value
|
|
|
|
|
|
|
|
||||||||
Fixed Income Securities Fund
|
169,226
|
|
|
|
|
|
|
|
|||||||
Total Investments
|
$
|
2,049,392
|
|
|
|
|
|
|
|
|
30 September 2017
|
||||||||||||||
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Interest-bearing Cash
|
$
|
4,273
|
|
|
$
|
4,273
|
|
|
|
|
|
|
|
||
Money Market Fund
|
32,695
|
|
|
32,695
|
|
|
|
|
|
|
|
||||
Mutual Funds
|
659,129
|
|
|
659,129
|
|
|
|
|
|
|
|
||||
Company Stock
|
375,513
|
|
|
375,513
|
|
|
|
|
|
|
|
||||
Versum Materials Stock
|
28,968
|
|
|
28,968
|
|
|
|
|
|
|
|
||||
Commingled Funds
|
656,208
|
|
|
656,208
|
|
|
|
|
|
|
|
||||
Total investments at fair value
|
$
|
1,756,786
|
|
|
$
|
1,756,786
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Investments measured at contract value
|
|
|
|
|
|
|
|
||||||||
Fixed Income Securities Fund
|
168,894
|
|
|
|
|
|
|
|
|||||||
Total Investments
|
$
|
1,925,680
|
|
|
|
|
|
|
|
(4)
|
Fixed Income Securities Fund
|
(5)
|
Income Tax Status
|
(6)
|
Expenses of the Plan
|
(7)
|
Plan Termination
|
(8)
|
Related-Party Transactions
|
(9)
|
Subsequent Events
|
(10)
|
Reconciliation of Financial Statements to Form 5500
|
|
2018
|
|
2017
|
||||
|
(In thousands)
|
||||||
Net assets available for benefits per the financial statements
|
$
|
2,064,603
|
|
|
$
|
1,943,659
|
|
Adjustment from contract value to fair value for fully benefit-responsive investment contracts
|
(1,508
|
)
|
|
3,126
|
|
||
Amounts allocated to withdrawing participants
|
(22
|
)
|
|
(297
|
)
|
||
Net assets available for benefits per Form 5500
|
$
|
2,063,073
|
|
|
$
|
1,946,488
|
|
|
2018
|
||
|
(In thousands)
|
||
Distributions to participants per the financial statements
|
$
|
150,102
|
|
Amounts allocated to withdrawing participants at 30 September 2018
|
22
|
|
|
Amounts allocated to withdrawing participants at 30 September 2017
|
(297
|
)
|
|
Distributions to participants per Form 5500
|
$
|
149,827
|
|
|
2018
|
||
|
(In thousands)
|
||
Increase in net assets per the financial statements
|
$
|
120,944
|
|
Change in the adjustment from contract value to fair value for fully benefit-responsive investment contracts
|
(4,634
|
)
|
|
Change in amounts allocated to withdrawing participants
|
275
|
|
|
Net increase per Form 5500
|
$
|
116,585
|
|
Identity of issue
|
Description
|
Current value
|
||||
Interest-bearing cash:
|
|
|
||||
|
*
|
Fidelity Trust Management Company
|
Cash
|
$
|
3,237
|
|
Money Market Fund:
|
|
|
||||
|
*
|
Fidelity Investments Money Market Government Portfolio - Institutional Class
|
Money market fund; par value
|
32,017
|
|
|
Life Cycle Funds (Lending Series Fund Class II):
|
|
|
||||
|
|
SS Target Retirement Income Securities
|
Commingled investment pool
|
17,472
|
|
|
|
|
SS Target Retirement 2015 Securities
|
Commingled investment pool
|
16,765
|
|
|
|
|
SS Target Retirement 2020 Securities
|
Commingled investment pool
|
67,204
|
|
|
|
|
SS Target Retirement 2025 Securities
|
Commingled investment pool
|
59,536
|
|
|
|
|
SS Target Retirement 2030 Securities
|
Commingled investment pool
|
72,525
|
|
|
|
|
SS Target Retirement 2035 Securities
|
Commingled investment pool
|
32,302
|
|
|
|
|
SS Target Retirement 2040 Securities
|
Commingled investment pool
|
44,624
|
|
|
|
|
SS Target Retirement 2045 Securities
|
Commingled investment pool
|
22,833
|
|
|
|
|
SS Target Retirement 2050 Securities
|
Commingled investment pool
|
18,862
|
|
|
|
|
SS Target Retirement 2055 Securities
|
Commingled investment pool
|
13,306
|
|
|
|
|
SS Target Retirement 2060 Securities
|
Commingled investment pool
|
2,213
|
|
|
Corporate Bond Fund:
|
|
|
||||
|
|
Western Asset Core Plus Bond CIF R1
|
Commingled investment pool
|
75,590
|
|
|
Bond Index Fund:
|
|
|
||||
|
|
Vanguard Total Bond Market Index Fund
|
Mutual fund shares: 1,878,861
|
19,465
|
|
|
Balanced Fund:
|
|
|
||||
|
|
Dodge & Cox Balanced Fund
|
Mutual fund shares: 1,146,635
|
124,547
|
|
|
S&P 500 Index Fund:
|
|
|
||||
|
*
|
Fidelity 500 Index Fund
|
Mutual fund shares: 1,950,975
|
199,546
|
|
|
Extended Market Index Fund:
|
|
|
||||
|
*
|
Fidelity Extended Market Index Fund
|
Mutual fund shares: 455,537
|
31,277
|
|
|
Mid-Cap Core Fund:
|
|
|
||||
|
|
Principal Funds Inc. MidCap Fund Institutional Class
|
Mutual fund shares: 2,046,796
|
60,053
|
|
|
Large Cap Value Fund:
|
|
|
||||
|
|
Vanguard Windsor II Fund Admiral
|
Mutual fund shares: 2,546,576
|
179,814
|
|
|
Large Cap Growth Fund:
|
|
|
||||
|
|
JPMCB Large Cap Growth Fund
|
Commingled investment pool
|
123,884
|
|
|
International Stock Funds:
|
|
|
||||
|
*
|
Fidelity International Discovery Commingled Pool
|
Commingled investment pool
|
73,992
|
|
|
|
|
Vanguard Total International Stock Index Fund
|
Mutual fund shares: 179,993
|
20,895
|
|
|
Small Cap Core Fund:
|
|
|
||||
|
*
|
FIAM Small Capitalization Core Commingled Pool
|
Commingled investment pool
|
113,895
|
|
|
Common Stock:
|
|
|
||||
|
*
|
Air Products and Chemicals, Inc. Common Stock
|
Common stock shares: 2,378,336; Historical Cost: $194,124
|
397,301
|
|
|
Fixed Income Securities Fund:
|
|
|
||||
|
|
Invesco Stable Value Fund
|
Guaranteed investment contracts; 2.72% (average yield) in 2018
|
167,718
|
|
|
Self-Directed Brokerage Account:
|
|
|
||||
|
*
|
Fidelity BrokerageLink
|
Brokerage account for many publicly available mutual funds
|
57,011
|
|
|
|
|
Total investments
|
|
$
|
2,047,884
|
|
*
|
Participant loans
|
Interest rates ranging from 4.25% to 10.50% with various maturity dates
|
$
|
15,011
|
|
Exhibit No.
|
Description
|
23.1
|
|
|
Air Products and Chemicals, Inc. Retirement Savings Plan
|
|
|
|
(Name of Plan)
|
|
|
|
|
|
Date:
|
26 March 2019
|
By:
|
/s/ Sean D. Major
|
|
|
|
Sean D. Major
|
|
|
|
Executive Vice President, General Counsel and Secretary
|
1 Year Air Products and Chemicals Chart |
1 Month Air Products and Chemicals Chart |
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