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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Leggett and Platt Inc | NYSE:LEG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.54 | 3.98% | 14.10 | 14.30 | 13.62 | 13.75 | 3,968,813 | 01:00:00 |
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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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o
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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FINANCIAL STATEMENTS
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SUPPLEMENTAL SCHEDULE (*)
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* Other schedules required by 29 CFR 2520.103-10 of the Department of Labor’s Rules and Regulations for reporting and disclosure under ERISA have been omitted because they are not applicable.
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December 31,
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||||||
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2019
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2018
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||||
ASSETS
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||||
Investments, at fair value
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$
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389,033,834
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$
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320,468,247
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Non-interest bearing cash
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16,734
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|
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65
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||
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Receivables
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Company contributions
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502,405
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1,378,499
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Participant contributions
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122,491
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112,336
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Investment income
|
999,519
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1,116,737
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Notes receivable from participants
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6,006,433
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4,735,476
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Total receivables
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7,630,848
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7,343,048
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Total assets
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396,681,416
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327,811,360
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LIABILITIES
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Due to broker for securities purchased
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16,726
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53
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Fees payable
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36,250
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—
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Refund of excess contributions
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2,306
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1,066
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Total liabilities
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55,282
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1,119
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NET ASSETS AVAILABLE FOR BENEFITS
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$
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396,626,134
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$
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327,810,241
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Year Ended December 31,
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||||||
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2019
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2018
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Additions
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Investment income
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Net appreciation (depreciation) in value of investments
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$
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82,100,529
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$
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(13,422,049
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)
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Dividends and interest
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8,572,943
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3,137,238
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Other
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35,760
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13,636
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Net investment income (loss)
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90,709,232
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(10,271,175
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)
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||
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Interest income on notes receivable from participants
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298,103
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219,214
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Contributions
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|
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Participant
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15,041,501
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10,756,638
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Company
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6,574,711
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2,252,389
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Rollovers and other
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1,774,971
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1,261,234
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Total contributions
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23,391,183
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14,270,261
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Transfers from Leggett & Platt, Incorporated
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Stock Bonus Plan, pre-merger
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—
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574
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Transfers from merged plan
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—
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139,872,796
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Total transfers
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—
|
|
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139,873,370
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Net additions
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114,398,518
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|
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144,091,670
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Deductions
|
|
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Benefit payments
|
44,991,739
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|
|
17,267,788
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Administrative fees
|
590,886
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|
|
316,953
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Total deductions
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45,582,625
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17,584,741
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Net increase
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68,815,893
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126,506,929
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NET ASSETS AVAILABLE FOR BENEFITS
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BEGINNING OF YEAR
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327,810,241
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201,303,312
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END OF YEAR
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$
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396,626,134
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|
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$
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327,810,241
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•
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Level 1: Quoted prices for identical assets or liabilities in active markets.
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•
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Level 2: Other significant inputs observable either directly or indirectly (including quoted market prices for similar securities, interest rates, yield curves, credit risk, etc.)
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•
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Level 3: Unobservable inputs that are not corroborated by market data.
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December 31, 2019
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||||||||||||
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Fair Value Measurements Using
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||||||||||||
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Quoted Prices in Active Markets for Identical Assets
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Significant Other Observable Inputs
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Significant Unobservable Inputs
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||||||||
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Fair Value
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(Level 1)
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(Level 2)
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(Level 3)
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||||||||
Mutual funds
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$
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212,817,920
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$
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212,817,920
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|
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$
|
—
|
|
|
$
|
—
|
|
Common stock
|
126,640,709
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|
|
126,640,709
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|
—
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—
|
|
||||
Investments measured at NAV (a)
|
49,575,205
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|
|
—
|
|
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—
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|
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—
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|
||||
Investments at fair value
|
$
|
389,033,834
|
|
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$
|
339,458,629
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|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
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|
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December 31, 2018
|
||||||||||||
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Fair Value Measurements Using
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||||||||||||
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|
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Quoted Prices in Active Markets for Identical Assets
|
|
Significant Other Observable Inputs
|
|
Significant Unobservable Inputs
|
||||||||
|
Fair Value
|
|
(Level 1)
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(Level 2)
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|
(Level 3)
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||||||||
Mutual funds
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$
|
170,175,074
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$
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170,175,074
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$
|
—
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|
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$
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—
|
|
Common stock
|
102,610,419
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|
|
102,610,419
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|
|
—
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|
|
—
|
|
||||
Investments measured at NAV (a)
|
47,682,754
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|
—
|
|
|
—
|
|
|
—
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|
||||
Investments at fair value
|
$
|
320,468,247
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|
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$
|
272,785,493
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|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
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|
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December 31,
|
||||||
|
2019
|
|
2018
|
||||
Wells Fargo Bank, N.A.
|
$
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49,575,205
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$
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47,682,754
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Leggett and Platt, Incorporated
(2,491,456 and 2,906,326 shares, respectively)
|
126,640,709
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|
|
102,610,419
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Merger Date
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Merged Plan
|
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Amount
|
||
December 31, 2018
|
|
Leggett & Platt, Incorporated Stock Bonus Plan
|
|
$
|
139,872,796
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Net assets available for benefits per the financial statements
|
|
$
|
396,626,134
|
|
|
$
|
327,810,241
|
|
Notes receivable from participants deemed distributed, end of year
|
|
(213,443
|
)
|
|
(242,096
|
)
|
||
Amounts allocated to excess contributions
|
|
2,306
|
|
|
1,066
|
|
||
Net assets available for benefits per Form 5500
|
|
$
|
396,414,997
|
|
|
$
|
327,569,211
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|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Contributions made to the Plan per the financial statements
|
|
$
|
23,391,183
|
|
|
$
|
14,270,261
|
|
Amounts allocated to excess contributions
|
|
2,306
|
|
|
1,066
|
|
||
Contributions made to the Plan per Form 5500
|
|
$
|
23,393,489
|
|
|
$
|
14,271,327
|
|
|
December 31,
|
||||||
|
2019
|
|
2018
|
||||
Benefit payments paid to the participants per the financial statements
|
$
|
44,991,739
|
|
|
$
|
17,267,788
|
|
Notes receivable from participants deemed distributed, beginning of year
|
(242,096
|
)
|
|
(210,699
|
)
|
||
Notes receivable from participants deemed distributed, end of year
|
213,443
|
|
|
242,096
|
|
||
Amounts allocated to excess contributions
|
1,066
|
|
|
80,783
|
|
||
Benefit payments paid to the participants per Form 5500
|
$
|
44,964,152
|
|
|
$
|
17,379,968
|
|
(a)
|
(b) Identity of Issuer
|
(c) Description of Investment
|
(e) Current Value(1)
|
|
||
*
|
Leggett & Platt, Incorporated
|
Common stock
|
$
|
126,640,709
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2025 - Inst
|
28,000,203
|
|
|
|
|
Vanguard
|
Vanguard Growth Index Fund - Inst
|
25,144,878
|
|
|
|
*
|
Wells Fargo
|
Wells Fargo Enhanced Stock Market Fund N
|
24,819,240
|
|
|
|
*
|
Wells Fargo
|
Wells Fargo Stable Return Fund N
|
24,755,965
|
|
|
|
|
Dodge & Cox
|
Dodge & Cox Stock Fund
|
19,516,102
|
|
|
|
|
Vanguard
|
Vanguard S&P Mid Cap 400 Index - Inst
|
19,219,911
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2020 - Inst
|
18,967,118
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2030 - Inst
|
18,536,783
|
|
|
|
|
Vanguard
|
Vanguard Small Cap Index - Inst
|
13,177,998
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2035 - Inst
|
13,164,844
|
|
|
|
|
Vanguard
|
Vanguard FTSE All World - Inst
|
12,119,252
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2040 - Inst
|
10,141,507
|
|
|
|
|
Baird
|
Baird Core Bond Fund
|
10,067,007
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2015 - Inst
|
8,441,652
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2045 - Inst
|
6,629,278
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement Inc - Inst
|
3,602,992
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2050 - Inst
|
3,482,122
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2055 - Inst
|
1,981,516
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2060 - Inst
|
597,553
|
|
|
|
|
Vanguard
|
Vanguard Instl Target Retirement 2065 - Inst
|
27,204
|
|
|
|
*^
|
Various Participants
|
Notes receivable from participants with interest rates set at prime plus 1% (4.25% - 11.50%)
|
5,792,990
|
|
|
|
|
Total investments
|
|
$
|
394,826,824
|
|
|
(1)
|
See Note B of Notes to Financial Statements regarding the valuation of assets.
|
*
|
Investments in assets of parties-in-interest to the Plan.
|
^
|
Net of $213,443 of cumulative deemed loan distributions.
|
Exhibit No.
|
|
Document Description
|
|
|
|
Exhibit 23
|
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|
LEGGETT & PLATT, INCORPORATED 401(k) PLAN AND TRUST AGREEMENT
|
||
|
|
|
|
|||
Date: June 23, 2020
|
|
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|
By:
|
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/s/ Benjamin M. Burns
|
|
|
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Benjamin M. Burns
|
|
|
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|
|
Vice President - Business Support Services and Plan Administrative Committee Chair
|
1 Year Leggett and Platt Chart |
1 Month Leggett and Platt Chart |
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