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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Toro Co | NYSE:TTC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.57 | 0.65% | 88.31 | 89.19 | 87.40 | 88.67 | 386,021 | 01:00:00 |
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Description
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Page Number
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/s/ KPMG LLP
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Minneapolis, Minnesota
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June 25, 2020
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2019
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2018
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ASSETS
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Assets held by trustee, at fair value and contract value:
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Investments at fair value
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$
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1,284,400,302
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$
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953,423,543
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Investments at contract value
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6,612,093
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—
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Total assets held by trustee, at fair value and contract value
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1,291,012,395
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953,423,543
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Receivables:
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Employer contribution receivable
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10,611,052
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13,876,572
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Employee contribution receivable
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296,660
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140,397
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Dividends receivable on The Toro Company Common Stock
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1,321,016
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—
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Notes receivable from participants
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2,668,248
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86,643
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Assets in-transit from merged plan
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—
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4,676,591
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Other receivable due to investments in transit
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35,961
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—
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Total receivables
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14,932,937
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18,780,203
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Total assets
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1,305,945,332
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972,203,746
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LIABILITIES
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Excess contributions payable
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—
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90,442
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Total liabilities
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—
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90,442
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Net assets available for benefits
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$
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1,305,945,332
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$
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972,113,304
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2019
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2018
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Investment income (loss):
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Net appreciation (depreciation) in the fair value of investments
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$
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262,371,201
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$
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(109,730,251
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)
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Interest and dividends
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16,459,097
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16,390,118
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Net investment income (loss)
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278,830,298
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(93,340,133
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)
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Contributions:
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Employer cash contributions
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21,760,120
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14,718,132
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Employer non-cash stock contributions
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—
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3,949,388
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Employee contributions
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23,251,184
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20,452,942
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Rollover contributions
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3,529,468
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1,839,495
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Total contributions
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48,540,772
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40,959,957
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Deductions from net assets:
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Benefit payments
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(124,567,122
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)
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(129,782,858
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)
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Administrative and other
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(394,071
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)
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(284,313
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)
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Total deductions from net assets
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(124,961,193
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)
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(130,067,171
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)
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Net increase (decrease) in net assets available for benefits
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202,409,877
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(182,447,347
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)
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Transfer of assets and participant notes receivable from merged plan
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131,422,151
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4,761,536
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Net assets available for benefits:
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Beginning of year
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972,113,304
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1,149,799,115
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End of year
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$
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1,305,945,332
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$
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972,113,304
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1
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Summary Description of Plan
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2
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Summary of Significant Accounting Policies
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3
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Funding Policy, Contributions, and Plan Transfers
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4
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Party-in-Interest Transactions
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5
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Plan Termination
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6
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Fair Value Measurement
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2019
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Total
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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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408,581,796
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$
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408,581,796
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$
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—
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$
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—
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Common collective trust funds
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437,988,115
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—
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437,988,115
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—
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Money market funds
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5,439,833
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5,439,833
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—
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—
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Self-directed brokerage
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11,398,218
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11,398,218
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—
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—
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The Toro Company Common Stock
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420,992,340
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420,992,340
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—
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—
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Investments at fair value
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$
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1,284,400,302
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$
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846,412,187
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$
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437,988,115
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$
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—
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2018
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Total
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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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282,825,781
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$
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282,825,781
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$
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—
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$
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—
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Common collective trust funds
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315,487,003
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—
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315,487,003
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—
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Money market funds
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4,338,732
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4,338,732
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—
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—
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Self-directed brokerage
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12,312,222
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12,312,222
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—
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—
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The Toro Company Common Stock
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338,459,805
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338,459,805
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—
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—
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Investments at fair value
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$
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953,423,543
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$
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637,936,540
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$
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315,487,003
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$
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—
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7
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Federal Income Taxes
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8
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Subsequent Events
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•
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Participants are allowed to withdraw "coronavirus-related distributions" of up to $100,000 without penalty throughout the remainder of the 2020 calendar year. Such distributions may be repayable to the Plan within three years.
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•
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Repayments by certain COVID-19 affected Participants on preexisting Participant loans with payment dates between March 27, 2020 and December 31, 2020 may be suspended until December 31, 2020. Following the period of suspension, loans with suspended payments will be reamortized and payments will recommence.
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•
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Required minimum distributions for Participants are waived for the 2020 calendar year.
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Identity of Issue, Borrower, Lessor, or Similar Party
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Description of Investment, Including Maturity Date, Rate of Interest, Collateral, and Par or Maturity Value
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Cost
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Current Value
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Investment at contract value
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*
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MassMutual SAGIC Diversified II
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Guaranteed Investment Contract
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**
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$
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6,612,093
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Investments at fair value
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T. Rowe Price International Discovery Fund I Class
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Mutual Fund
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**
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11,760,912
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Vanguard Institutional Index Fund
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Mutual Fund
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**
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190,025,685
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Vanguard Mid-Cap Index Fund Institutional Shares
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Mutual Fund
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**
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54,508,272
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Vanguard Small-Cap Index Fund Institutional Shares
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Mutual Fund
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**
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6,686,081
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Vanguard Explorer Fund Admiral Shares
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Mutual Fund
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**
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17,217,763
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Goldman Sachs Small Cap Value Fund Institutional Class
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Mutual Fund
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**
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27,470,257
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PIMCO International Bond Fund (Unhedged) Institutional Class
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Mutual Fund
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**
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3,580,937
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PGIM Total Return Bond Fund Class R6
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Mutual Fund
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**
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3,700,547
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American Funds EuroPacific Growth Fund® Class R-6
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Mutual Fund
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**
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33,174,660
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*
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Fidelity U.S. Bond Index Fund
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Mutual Fund
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**
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17,624,128
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*
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MassMutual Premier Holding Account
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Mutual Fund
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**
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145
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American Funds Washington Mutual Investors Fund Class R-6
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Mutual Fund
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**
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4,283,650
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American Funds American Balance Fund® Class R-6
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Mutual Fund
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**
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4,735,893
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Columbia Small Cap Index Fund Institutional 2 Class
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Mutual Fund
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**
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1,996,671
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Goldman Sachs Large Cap Growth Insights Fund Institutional Class
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Mutual Fund
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**
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6,276,087
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Invesco International Growth Fund R5 Class
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Mutual Fund
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**
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1,120,595
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PIMCO Income Fund Institutional Class
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Mutual Fund
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**
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804,540
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*
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MassMutual Select Mid Cap Growth Fund Class I
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Mutual Fund
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**
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3,072,420
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Templeton Foreign Fund Class A
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Mutual Fund
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**
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663,153
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Vanguard 500 Index Fund Admiral Shares
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Mutual Fund
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**
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6,470,842
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Vanguard Mid-Cap Index Fund Admiral Shares
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Mutual Fund
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**
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3,615,463
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Vanguard Real Estate Index Fund Admiral Shares
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Mutual Fund
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**
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1,091,520
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Vanguard Total Bond Market Index Fund Admiral Shares
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Mutual Fund
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**
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1,549,080
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Commerce Bond Fund
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Mutual Fund
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**
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1,912,550
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Invesco Oppenheimer Developing Markets Fund Class Y
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Mutual Fund
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**
|
|
1,541,608
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American Century Mid Cap Value Fund Investor Class
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Mutual Fund
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**
|
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1,398,412
|
|
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|
Hartford Small Cap Growth Fund Class Y
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Mutual Fund
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**
|
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2,299,925
|
|
|
|
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Vanguard Retirement Savings Trust IV
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Common Collective Trust
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**
|
|
72,846,546
|
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|
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Vanguard Target Retirement Income Trust II
|
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Common Collective Trust
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**
|
|
4,938,351
|
|
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JPMorgan Chase Bank SmartRetirement Income Fund
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Common Collective Trust
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**
|
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2,735,926
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|
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Vanguard Target 2015
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Common Collective Trust
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**
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6,086,947
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Vanguard Target 2020
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Common Collective Trust
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**
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27,629,812
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JPMorgan Chase Bank SmartRetirement 2020
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Common Collective Trust
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**
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7,643,984
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Vanguard Target 2025
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Common Collective Trust
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**
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79,373,571
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JPMorgan Chase Bank SmartRetirement 2025
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Common Collective Trust
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**
|
|
14,259,245
|
|
|
|
|
Vanguard Target 2030
|
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Common Collective Trust
|
|
**
|
|
52,103,638
|
|
|
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JPMorgan Chase Bank SmartRetirement 2030
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Common Collective Trust
|
|
**
|
|
12,538,829
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|
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The Toro Company Investment, Savings and
Employee Stock Ownership Plan
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|
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Date: June 25, 2020
|
/s/ Renee J. Peterson
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Renee J. Peterson
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Vice President, Treasurer and Chief Financial Officer of The Toro Company
(duly authorized officer, principal financial officer, and accounting officer)
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Exhibit Number
|
Description
|
23.1
|
1 Year Toro Chart |
1 Month Toro Chart |
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