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Share Name | Share Symbol | Market | Type |
---|---|---|---|
United Technologies Corporation | NYSE:UTX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 86.01 | 0 | 01:00:00 |
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FORM 11-K
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Page
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Financial Statements
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December 31, 2016
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December 31, 2015
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Assets:
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Investment in Master Trust, at fair value
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$
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865,194
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$
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885,076
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Investment in Master Trust, at contract value
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1,353,349
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1,346,217
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Notes receivable from participants
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39,021
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49,105
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Net assets available for benefits
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$
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2,257,564
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$
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2,280,398
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Year Ended December 31, 2016
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Additions to net assets attributed to:
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Investment income:
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Plan interest in net appreciation and investment gain of Master Trust
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$
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149,316
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Contributions:
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Participants'
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52,229
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Employer's
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13,898
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Interest income on notes receivable from participants
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1,438
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Total additions
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216,881
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Deductions from net assets attributed to:
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Distributions to participants or beneficiaries
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236,084
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Administrative expenses
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3,631
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Total deductions
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239,715
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Net decrease
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(22,834
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)
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Net assets available for benefits December 31, 2015
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2,280,398
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Net assets available for benefits December 31, 2016
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$
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2,257,564
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(thousands of dollars)
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December 31,
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||||||
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2016
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2015
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Traditional GICs
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$
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157,774
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$
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155,321
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Managed Separate Account GICs
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2,503,212
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2,447,627
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Synthetic GICs
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5,578,882
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5,334,098
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Total
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$
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8,239,868
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$
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7,937,046
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December 31,
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2016
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2015
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Assets
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Investments at fair value:
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Cash and short-term investments
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$
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194,589
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$
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173,214
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Mutual funds
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250,197
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245,675
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Common and preferred stock
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5,513,618
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5,300,985
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Interest in real estate investment trusts
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250,367
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232,763
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U.S. Government and agency securities
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6,341
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6,224
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Other securities
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5,753
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12,049
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Commingled index funds
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1,825,021
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1,618,594
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UTC Common Stock
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6,110,072
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5,888,483
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Total investments at fair value
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14,155,958
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13,477,987
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Fully benefit-responsive investment contracts at contract value - Stable value fund
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8,239,868
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7,937,046
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Total investments
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22,395,826
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21,415,033
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Notes receivable from participants
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195,815
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212,526
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ESOP receivables
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18,618
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67,286
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Total assets
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22,610,259
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21,694,845
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Liabilities
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Accrued ESOP interest
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(268
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)
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(322
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)
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Notes payable to UTC
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(112,500
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)
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(131,000
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)
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Total liabilities
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(112,768
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)
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(131,322
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)
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Net assets
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$
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22,497,491
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$
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21,563,523
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Net assets of the Master Trust attributable to the Plan
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$
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2,257,564
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$
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2,280,398
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Year Ended December 31, 2016
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Total
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Additions:
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Net appreciation on fair value of investments
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$
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1,363,868
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Interest and dividend income
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558,109
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Transfers in from participating plans for purchase of units
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650,119
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Interest income on notes receivable from participants
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7,727
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Total additions
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2,579,823
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Deductions:
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Transfers out on behalf of participating plans for distributions
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(1,623,681
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)
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ESOP debt principal payment
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(18,500
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)
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ESOP debt interest expense
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(5,562
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)
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Master Trust administrative expense
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(36,197
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)
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Total deductions
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(1,683,940
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)
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Net increase prior to transfers
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895,883
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Transfers:
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Plan Transfers - net
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38,085
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Increase in net assets
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933,968
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Net assets:
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Beginning of year
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21,563,523
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End of year
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$
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22,497,491
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(thousands of dollars)
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2016
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Amounts pertaining to Plan:
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Plan interest in net appreciation and investment gain of Master Trust
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$
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149,316
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Interest income on notes receivable from participants
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$
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1,438
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Contributions received
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$
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66,127
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Distribution to participants or beneficiaries
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$
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(236,084
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)
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Plan interest in administrative and interest expense
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$
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(3,631
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)
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December 31, 2016
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(thousands of dollars)
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Level 1 |
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Level 2
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Level 3
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Not Subject to Leveling
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Total
1
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Short-term investments
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$
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—
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$
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100,091
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$
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—
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$
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100,091
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Mutual funds
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250,197
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—
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—
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250,197
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Separate accounts:
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Short-term investments
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—
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86,962
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—
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86,962
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Common and preferred stock
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5,513,618
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—
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—
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5,513,618
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Interest in real estate investment trusts
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250,367
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—
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—
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250,367
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U.S. Government and agency securities
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—
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6,341
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—
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6,341
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Other securities
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5,753
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—
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—
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5,753
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UTC Common stock
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6,110,072
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—
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—
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6,110,072
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Commingled index funds
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$
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1,825,021
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1,825,021
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Total
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$
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12,130,007
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$
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193,394
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$
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—
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$
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1,825,021
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$
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14,148,422
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December 31, 2015
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(thousands of dollars)
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Level 1 |
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Level 2
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Level 3
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Not Subject to Leveling
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Total
1
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Short-term investments
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$
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—
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$
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98,820
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$
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—
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$
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98,820
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Mutual funds
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245,675
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—
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—
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245,675
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Separate accounts:
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Short-term investments
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—
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62,514
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—
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62,514
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Common and preferred stock
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5,300,985
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—
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—
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5,300,985
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||||||
Interest in real estate investment trusts
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232,763
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—
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—
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232,763
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U.S. Government and agency securities
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—
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6,224
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—
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6,224
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Other securities
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12,049
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—
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—
|
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12,049
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UTC Common stock
|
5,888,483
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—
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—
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5,888,483
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Commingled index funds
|
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|
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$
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1,618,594
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1,618,594
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Total
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$
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11,679,955
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$
|
167,558
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$
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—
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$
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1,618,594
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$
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13,466,107
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1
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The tables above exclude approximately
$7,536 thousand
and
$11,880 thousand
of net receivables due to the Master Trust for the Plan years ended
December 31, 2016 and 2015
, respectively.
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December 31,
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||||||
(thousands of dollars)
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2016
|
|
2015
|
||||
Net assets available for benefits per the financial statements
|
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$
|
2,257,564
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$
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2,280,398
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Amounts allocated to participant withdrawals
|
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(803
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)
|
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(713
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)
|
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Net assets available for benefits per Form 5500
|
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$
|
2,256,761
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|
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$
|
2,279,685
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Year Ended
|
||
(thousands of dollars)
|
December 31, 2016
|
||
Distribution to participants or beneficiaries per the financial statements
|
$
|
236,084
|
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Add: Amounts allocated to participant withdrawals at December 31, 2016
|
803
|
|
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Less: Amounts allocated to participant withdrawals at December 31, 2015
|
(713
|
)
|
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Distribution to participants or beneficiaries per Form 5500
|
$
|
236,174
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(a)
|
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(b) Identity of issuer, borrower, lessor or similar party
|
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(c) Description of investment, including maturity date, rate of
interest, collateral, par or maturity value |
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(d) Cost
|
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(e) Current value
|
||||
*
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United Technologies Corporation Employee Savings Plan Master Trust
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Interest in Master Trust investment accounts
|
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$
|
—
|
|
|
$
|
2,218,543,000
|
|
*
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Plan Participants
|
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Notes receivable from participants collateralized by participant balances, interest rate 4.0 percent to 10.5 percent, terms ranging from 1 year to 5 years
|
|
—
|
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39,021,000
|
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||
|
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|
|
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$
|
—
|
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$
|
2,257,564,000
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*
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Indicates an identified person known to be a party-in-interest to the Plan.
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UNITED TECHNOLOGIES CORPORATION
REPRESENTED EMPLOYEE SAVINGS PLAN
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Dated:
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June 23, 2017
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By:
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/s/ P
ETER
H
OLOWESKO
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Peter Holowesko
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Vice President, Global Benefits
United Technologies Corporation
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(23)
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Consent of Independent Registered Public Accounting Firm *
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*
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Submitted electronically herewith.
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