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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Culp Inc | NYSE:CULP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.03 | -0.66% | 4.53 | 4.62 | 4.48 | 4.49 | 15,617 | 01:00:00 |
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
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Financial Statements
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Page of Report
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Report of Independent Registered Public Accounting Firm
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1
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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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Schedule of Assets (Held at End of Year)
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9
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(b)
Exhibits
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|
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Exhibit 23(a) – Consent of Independent Registered Public
Accounting Firm
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CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN
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By: Culp, Inc., Plan Administrator
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By: The Culp, Inc. Retirement Committee
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Date: June 20, 2017
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/s/ Franklin N. Saxon
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Franklin N. Saxon
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/s/ Kenneth R. Bowling
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Kenneth R. Bowling
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/s/ Teresa A. Huffman
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Teresa A. Huffman
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Page No. |
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 |
2
|
|
|
Statements of Changes in Net Assets Available for Benefits |
3
|
|
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Notes to Financial Statements
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4-8 |
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Supplemental Information
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Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
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9
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CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
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||||||||
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
|
||||||||
December 31, 2016 and 2015
|
||||||||
ASSETS
|
2016
|
2015
|
||||||
Investments, at fair value (Note C)
|
||||||||
Registered investment companies
|
$
|
29,913,876
|
$
|
28,033,530
|
||||
Common and collective trust fund
|
9,951,477
|
8,565,248
|
||||||
Culp, Inc. common stock
|
3,128,884
|
2,767,978
|
||||||
Money market fund
|
127,868
|
123,138
|
||||||
43,122,105
|
39,489,894
|
|||||||
Receivables
|
||||||||
Employer contributions
|
27,964
|
28,268
|
||||||
Participant contributions
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52,631
|
59,984
|
||||||
80,595
|
88,252
|
|||||||
NET ASSETS AVAILABLE
|
||||||||
FOR BENEFITS
|
$
|
43,202,700
|
$
|
39,578,146
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
||||||||||||
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|
||||||||||||
Years Ended December 31, 2016, 2015 and 2014
|
||||||||||||
2016
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2015
|
2014
|
||||||||||
CHANGES IN NET ASSETS ATTRIBUTED TO :
|
||||||||||||
Investment income
|
||||||||||||
Net appreciation (depreciation) in fair value
|
||||||||||||
of investments
|
$
|
2,230,030
|
$
|
(1,009,681
|
)
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$
|
636,651
|
|||||
Interest and dividends
|
1,072,130
|
1,614,975
|
1,471,573
|
|||||||||
Total investment income
|
3,302,160
|
605,294
|
2,108,224
|
|||||||||
Contributions
|
||||||||||||
Employer
|
915,937
|
845,755
|
760,439
|
|||||||||
Participant
|
1,565,096
|
1,509,090
|
1,322,568
|
|||||||||
Direct rollovers
|
18,522
|
135,665
|
142,087
|
|||||||||
Total contributions
|
2,499,555
|
2,490,510
|
2,225,094
|
|||||||||
Benefits paid to participants
|
2,177,161
|
1,249,309
|
1,181,870
|
|||||||||
NET INCREASE
|
3,624,554
|
1,846,495
|
3,151,448
|
|||||||||
NET ASSETS AVAILABLE
|
||||||||||||
FOR BENEFITS
|
||||||||||||
Beginning of year
|
39,578,146
|
37,731,651
|
34,580,203
|
|||||||||
End of year
|
$
|
43,202,700
|
$
|
39,578,146
|
$
|
37,731,651
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
NOTES TO FINANCIAL STATEMENTS
|
DECEMBER 31, 2016, 2015 AND 2014
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
NOTES TO FINANCIAL STATEMENTS
|
DECEMBER 31, 2016, 2015 AND 2014
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
NOTES TO FINANCIAL STATEMENTS
|
DECEMBER 31, 2016, 2015 AND 2014
|
December 31, 2016 | ||||||||||
|
|
|
||||||||
Description
|
Fair Value
|
Unfunded
Commitments
|
Redemption
Frequency (If
Currently
Eligible)
|
Redemption
Notice Period
|
||||||
Stable Value Trust Fund (Class III)
|
$
|
9,951,477
|
N/A
|
Daily
|
24 months
|
|||||
December 31, 2015 | ||||||||||
|
||||||||||
Description
|
Fair Value
|
Unfunded
Commitments
|
Redemption
Frequency (If
Currently
Eligible)
|
Redemption
Notice Period
|
||||||
Stable Value Trust Fund (Class V)
|
$
|
8,565,248
|
N/A
|
Daily
|
24 months
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
NOTES TO FINANCIAL STATEMENTS
|
DECEMBER 31, 2016, 2015 AND 2014
|
Fair Value Measurements at December 31, 2016 using:
|
||||||||||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
|
Significant other
Observable Inputs
|
Significant
Unobservable
Inputs
|
|||||||||||||
|
||||||||||||||||
Description
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
|
||||||||||||||||
Investments at fair value:
|
||||||||||||||||
|
||||||||||||||||
Registered investment companies
|
$
|
29,913,876
|
$
|
-
|
$
|
-
|
$
|
29,913,876
|
||||||||
Culp, Inc. common stock
|
3,128,884
|
-
|
-
|
3,128,884
|
||||||||||||
Money market fund
|
-
|
127,868
|
-
|
127,868
|
||||||||||||
|
||||||||||||||||
Total investments in the fair value
hierarchy
|
||||||||||||||||
$
|
33,042,760
|
$
|
127,868
|
$
|
-
|
33,170,628
|
||||||||||
|
||||||||||||||||
Investments at net asset value:
|
||||||||||||||||
|
||||||||||||||||
Common and collective trust fund
|
9,951,477
|
|||||||||||||||
|
||||||||||||||||
Total investments at fair value
|
$
|
43,122,105
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
NOTES TO FINANCIAL STATEMENTS
|
DECEMBER 31, 2016, 2015 AND 2014
|
Fair Value Measurements at December 31, 2015 using: |
||||||||||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
|
Significant other
Observable Inputs
|
Significant
Unobservable
Inputs
|
|||||||||||||
|
||||||||||||||||
Description
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
|
||||||||||||||||
Investments at fair value:
|
||||||||||||||||
|
||||||||||||||||
Registered investment companies
|
$
|
28,033,530
|
$
|
-
|
$
|
-
|
$
|
28,033,530
|
||||||||
Culp, Inc. common stock
|
2,767,978
|
-
|
-
|
2,767,978
|
||||||||||||
Money market fund
|
-
|
123,138
|
-
|
123,138
|
||||||||||||
|
||||||||||||||||
Total investments in the fair value
hierarchy
|
||||||||||||||||
$
|
30,801,508
|
$
|
123,138
|
$
|
-
|
30,924,646
|
||||||||||
|
||||||||||||||||
Investments at net asset value:
|
||||||||||||||||
|
||||||||||||||||
Common and collective trust fund
|
8,565,248
|
|||||||||||||||
|
||||||||||||||||
Total investments at fair value
|
$
|
39,489,894
|
CULP, INC. EMPLOYEES’ RETIREMENT BUILDER PLAN
|
SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
EIN: 56-1001967
|
PLAN NUMBER: 001
|
December 31, 2016
|
(a)
|
(b) Borrower, Lessor or Similar Party
|
(c) Description of Investment
|
(d) Cost **
|
Current
(e) Value
|
|||||
Invesco Stable Value Trust Fund - Class III
|
9,951,477 units
|
-
|
$
|
9,951,477
|
|||||
MFS Moderate Allocation Fund
|
360,749 units
|
- |
5,829,698
|
||||||
|
|
|
|
||||||
MFS Value Fund
|
145,453 units
|
- |
5,243,580
|
||||||
|
|
|
|
||||||
MFS Total Return Fund
|
163,073 units
|
- |
2,941,838
|
||||||
|
|
|
|
||||||
American Century Mid Cap Value Fund
|
144,825 units
|
-
|
2,489,533
|
||||||
|
|
|
|
||||||
Franklin Dynatech Fund
|
49,188 units |
-
|
2,349,714
|
||||||
|
|
|
|
||||||
MFS Growth Allocation Fund
|
128,396 units
|
- |
2,325,256
|
||||||
|
|
|
|
||||||
Lord Abbett Developing Growth Fund
|
81,937 units |
-
|
1,434,717
|
||||||
|
|
|
|
||||||
MFS International Diversification Fund
|
87,685 units |
-
|
1,347,720
|
||||||
|
|
|
|
||||||
DWS RREEF Real Estate Securities Fund
|
55,695 units |
-
|
1,120,029
|
||||||
|
|
|
|
||||||
MFS Core Equity Fund
|
41,868 units
|
-
|
1,112,436
|
||||||
|
|
|
|
||||||
MFS Conservative Allocation Fund
|
66,302 units
|
-
|
968,669
|
||||||
|
|
|
|
||||||
Pioneer Bond Fund
|
75,506 units |
-
|
726,363
|
||||||
|
|
|
|
||||||
MFS Bond Fund
|
51,013 units
|
-
|
701,430
|
||||||
|
|
|
|
||||||
MFS Aggressive Growth Allocation Fund
|
35,508 units
|
-
|
694,540
|
||||||
|
|
|
|
||||||
Lord Abbett Bond Debenture Fund
|
79,338 units |
-
|
628,353
|
||||||
|
|
|
|
||||||
MFS Money Market Fund
|
127,868 units
|
-
|
127,868
|
||||||
|
|
|
|
||||||
* |
Culp, Inc. Common Stock
|
84,223 shares
|
-
|
3,128,884
|
|||||
|
|
|
|
|
|||||
$ |
43,122,105
|
||||||||
|
|
||||||||
*
|
Indicates party-in-interest.
|
||||||||
**
|
Cost information omitted for participant-directed investments.
|
Exhibit Number
|
|
Exhibit
|
|
|
|
|
|
23A
|
|
Consent of Independent Registered Public
Accounting Firm in connection with the
registration statement of Culp, Inc. on Form
S-8 (File No. 33-13310).
|
1 Year Culp Chart |
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