form_11k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 11-K
(Mark
One)
|
x
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
|
For
the fiscal year ended December 31,
2008.
OR
|
o
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
|
For
the transition period from
to
.
Commission
file number 1-8649.
|
A.
Full title of the plan and address of the plan if different from
that of the issuer named below:
|
The
Toro Company Profit-Sharing Plan for Plymouth Union Employees
The
Toro Company
8111
Lyndale Avenue South
Minneapolis,
MN 55420
Attn:
Director, Tax Accounting
|
B.
Name of issuer of the securities held pursuant to the plan and the
address of its principal executive
office:
|
The
Toro Company
8111
Lyndale Avenue South
Minneapolis,
MN 55420
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Table
of Contents
The Plan
Administrator
The Toro
Company Profit-Sharing Plan
for
Plymouth Union Employees:
We have
audited the accompanying statements of net assets available for benefits of The
Toro Company Profit-Sharing Plan for Plymouth Union Employees (the Plan) as of
December 31, 2008 and 2007, and the related statements of changes in net
assets available for benefits for the years then ended. These financial
statements are the responsibility of the Plan’s management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating overall financial statement
presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of the Plan as of
December 31, 2008 and 2007 and the changes in net assets available for benefits
for the years then ended, in conformity with U.S. generally accepted accounting
principles.
/s/ KPMG
LLP
Minneapolis,
Minnesota
June 26,
2009
|
|
FOR
PLYMOUTH UNION EMPLOYEES
|
|
|
|
|
|
|
|
|
Statements
of Net Assets Available for Benefits
|
|
|
|
|
|
|
|
|
December
31, 2008 and 2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008
|
|
|
2007
|
|
Assets:
|
|
|
|
|
|
|
Investments
at fair value:
|
|
|
|
|
|
|
Interest
in the Toro Company Master Trust Fund
|
|
$ |
2,099,274 |
|
|
|
3,252,492 |
|
|
|
|
|
|
|
|
|
|
Total
investments
|
|
|
2,099,274 |
|
|
|
3,252,492 |
|
|
|
|
|
|
|
|
|
|
Employee
contribution receivable
|
|
|
3,002 |
|
|
|
2,870 |
|
Employer
contribution receivable
|
|
|
1,132 |
|
|
|
1,339 |
|
Net
assets available for benefits at fair value
|
|
|
2,103,408 |
|
|
|
3,256,701 |
|
|
|
|
|
|
|
|
|
|
Adjustment
from fair value to contract value for
|
|
|
|
|
|
|
|
|
fully
benefit-responsive investment contracts
|
|
|
10,842 |
|
|
|
681 |
|
Net
assets available for benefits
|
|
$ |
2,114,250 |
|
|
|
3,257,382 |
|
|
|
|
|
|
|
|
|
|
See
accompanying notes to financial statements.
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|
|
|
|
|
|
|
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|
|
|
|
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|
|
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FOR
PLYMOUTH UNION EMPLOYEES
|
|
|
|
|
|
|
|
|
Statements
of Changes in Net Assets Available for Benefits
|
|
|
|
|
|
|
|
|
Years
ended December 31, 2008 and 2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2008
|
|
|
2007
|
|
(Deductions)
Additions to Net Assets:
|
|
|
|
|
|
|
Investment
(loss) income:
|
|
|
|
|
|
|
Plan
interest in net investment income of the Toro
|
|
|
|
|
|
|
Company
Master Trust Fund
|
|
$ |
(1,098,931 |
) |
|
|
337,448 |
|
Net
investment (loss) income
|
|
|
(1,098,931 |
) |
|
|
337,448 |
|
|
|
|
|
|
|
|
|
|
Employer
contributions
|
|
|
45,407 |
|
|
|
43,170 |
|
Employee
contributions
|
|
|
161,293 |
|
|
|
150,652 |
|
Total
contributions
|
|
|
206,700 |
|
|
|
193,822 |
|
|
|
|
|
|
|
|
|
|
Total
(deductions) additions to net assets
|
|
|
(892,231 |
) |
|
|
531,270 |
|
|
|
|
|
|
|
|
|
|
Deductions
from Net Assets:
|
|
|
|
|
|
|
|
|
Benefit
payments
|
|
|
(250,901 |
) |
|
|
(259,181 |
) |
|
|
|
|
|
|
|
|
|
Net
(decrease) increase in net assets available
|
|
|
|
|
|
|
|
|
for
benefits
|
|
|
(1,143,132 |
) |
|
|
272,089 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits:
|
|
|
|
|
|
|
|
|
Beginning
of year
|
|
|
3,257,382 |
|
|
|
2,985,293 |
|
|
|
|
|
|
|
|
|
|
End
of year
|
|
$ |
2,114,250 |
|
|
|
3,257,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
accompanying notes to financial statements.
|
|
|
|
|
|
|
|
|
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
(1)
|
Summary
Description of Plan
|
The
following description of The Toro Company Profit-Sharing Plan for Plymouth Union
Employees (the Plan) is provided for general information purposes
only. Participants should refer the Plan document restated as of
January 1, 2006 for more complete information.
Employees
are eligible to contribute to the plan after they have completed 180 consecutive
days of employment or one year of eligibility service and must be a member of a
collective bargaining unit. Participants are fully vested in the
entire balance of their individual accounts attributable to those
contributions. The Toro Company (the Company) also makes matching
contributions. Participants are eligible for matching contributions
after completing one year of qualifying service with the
Company. Company contributions, together with the income attributable
thereto, vest at a rate of 20% after one year of vesting service, with an
additional 20% being accumulated annually thereafter until the participant is
100% vested.
Participants
and the Company make contributions to the Plan. The investments of employee and
employer contributions are selected by the participants. All contributions under
the Plan are made to a trust that holds all of the assets of the
Plan.
Participants
may receive distributions from their vested accounts under the Plan upon
termination of employment, retirement, or death in the form of a lump-sum
payment or in installments. Participants are allowed to withdraw
amounts that they previously rolled into the Plan. Withdrawals are
also allowed from selected accounts in the event of a defined financial hardship
to the extent necessary to satisfy the financial need. To the extent
an account is invested in Company common shares, a withdrawal or distribution
can be in the form of common shares or cash.
Effective
November 5, 2007, a new trustee (Fidelity) was appointed to the
Plan. Plan assets transferred to the new trustee were transferred
into funds comparable to those offered by the former trustee (J.P. Morgan
Retirement Plan Services). The conversion initiated a “Black Out”
period beginning October 20, 2007 and continued through November 4,
2007. Prior to this period, employees were notified and able to
select funds with the new trustee. During the Black Out period, fund
elections could not be changed or withdrawn from the Plan until the new trustee
had time to accurately complete the conversion. Employee
contributions continued to be made through payroll deductions and contributions
were deposited directly into the participant accounts based on their elections
until the completion of the Black Out period.
Employee
contributions to the plan consist of salary reduction elections under a 401(k)
feature, voluntary after tax contributions, and rollover funds from other
qualified plans. The Company is required to make a matching
contribution equal to 50% of the participants’ contributions to the Plan not to
exceed 2% of the participants’ total compensation.
Transfers
to/from other funds, represent participant elected rollovers to/from other plans
of other employers or other transfers to/from plans.
Forfeited
amounts from nonvested accounts totaled $816 during the plan year ended December
31, 2008. During the plan year ended December 31, 2007, there were no
forfeited amounts from nonvested accounts.
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
The
Company, administrator of the Plan, absorbs all administrative costs of the
Plan, except for the trustee fees.
(2)
|
Summary
of Significant Accounting Policies
|
|
(a)
|
Basis
of Financial Statement Presentation
|
The
accompanying financial statements of The Toro Company Profit-Sharing Plan for
Plymouth Union Employees (the Plan) are presented in accordance with U.S.
generally accepted accounting principles.
The
Plan’s investments are in a Master Trust held by Fidelity. The investment
securities are stated at fair values based upon published quotations or, in the
absence of available quotations, at fair values determined by the trustee. Fair
value is the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants as of the
measurement date. Purchases and sales of securities are recorded on a
trade-date basis. Interest is recorded on an accrual
basis. Dividends are recorded on the ex-dividend date. Net
appreciation (depreciation) includes the Plan’s gains and losses on investments
bought and sold as well as held during the year.
The
Company maintains one Master Trust for three profit sharing and retirement plans
that are sponsored by the Company. The three plans are the Plan, The Toro
Company Investment, Savings, and Employee Stock Ownership Plan, and the Hahn
Equipment Company Savings Plan for Union Employees. The purpose of the Master
Trust is to pool investment transactions and achieve uniform rates of return on
comparable funds under all plans. The Master Trust invests in fully
benefit-responsive investment contracts stated at fair value and then adjusted
to contract value. Fair value of the contracts is calculated by
discounting the related cash flows based on current yields of similar
instruments with comparable durations.
The
Plan’s proportionate share of net investment income from the Master Trust is
based upon the percentage of the fair value of the Plan’s investment in the
Master Trust’s net assets. The Plan’s percentage interest in the net assets of
the Master Trust was approximately 1% as of December 31, 2008 and
2007.
The
preparation of financial statements in conformity with U.S. generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of net assets available for benefits, and disclosure
of contingent assets and liabilities at the date of the financial statements and
the reported amounts of changes in net assets available for benefits during the
reporting period. Actual results could differ from those estimates.
|
(d)
|
Concentrations
of Risk
|
The Plan
has investments in a variety of investment funds. Investments in
general are exposed to various risks, such as interest rate, credit, and overall
market volatility. Due to the level of risk associated with certain
investments, it is reasonably possible that changes in the values of the
investments will occur in the near term and that such
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
changes
could materially affect participants’ account balances and the amounts reported
in the Statement of Net Assets Available for Benefits.
The
assets held by the Master Trust include The Toro Company Common
Stock. At December 31, 2008 and 2007, approximately 30% and 34% of
the investments of the Master Trust were invested in common stock of the
Company. The underlying value of the Company’s common stock is
entirely dependent upon the performance of the Company and the market’s
evaluation of such performance and other factors.
|
(e)
|
Fully
Benefit-Responsive Investment
Contracts
|
Investment contracts held by a
defined contribution plan are required to be reported at fair
value. However, contract value is the relevant measurement attribute
for that portion of the net assets available for benefits of a defined
contribution plan attributable to fully benefit-responsive investment contracts
because contract value is the amount participants would receive if they were to
initiate permitted transactions under the terms of the Plan. The
Statements of Net Assets Available for Benefits present the fair value of the
Master Trust, as well as the adjustment of the fully benefit-responsive
investment contract from fair value to contract value. The Statement
of Changes in Net Assets Available for Benefits is prepared on a contract value
basis.
(3)
|
Party-in-interest
Transactions
|
Fidelity
(trustee of the Plan effective November 5, 2007) and J.P. Morgan Retirement Plan
Services (former trustee of the Plan) and The Toro Company are
parties-in-interest with respect to the Plan. The Plan’s investments are held by
Fidelity (trustee of the Plan effective November 5, 2007) and JP Morgan
Retirement Plan Services (former trustee of the Plan). Some of the investment
funds available to participants also include mutual funds managed by Fidelity
from November 5, 2007 through December 31, 2008 and JP Morgan from January 1,
2007 through November 4, 2007. In the opinion of the Plan’s legal
counsel, transactions between the Plan and the trustees are exempt from being
considered as “prohibited transactions” under the ERISA Section
408(b).
The
Company has voluntarily agreed to make contributions to the Plan. Although the
Company has not expressed any intent to terminate the Plan, it may do so at any
time. Each participant’s interest in the Plan is 100% vested at all times,
except for the portion attributable to matching contributions which is vested in
a manner described above. Upon termination of the Plan, interests of active
participants in the Plan fully vest.
The plan
administrator has received a favorable determination letter dated April 15, 2003
from the Internal Revenue Service stating that the Plan constitutes a qualified
plan under Section 401(a) of the Internal Revenue Code and that the trust
created under the Plan is exempt from federal income tax under Section 501(a) of
the Code. The Plan has been amended since the date of this letter,
and an updated tax determination letter was received on February 19,
2008. Therefore, no provision for income taxes has been included in
the Plan’s financial statements.
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
(6) Master
Trust Fund
Under the
terms of the trust agreement, the trustee manages investment funds on behalf of
the Plan. The trustee has been granted discretionary authority
concerning the purchases and sales of the investments of the investment funds,
except to the extent the trustee is subject to the discretion of participants,
other fiduciaries, or the Company. In accordance with the trust
agreement, the assets of the Plan are held together with assets of other plans
sponsored by the Company in the Master Trust. Investment income
related to the Master Trust is allocated to the individual plans based upon
beginning of the month balances invested in the Plan.
Net
investment income for the Master Trust for the years-ended December 31, 2008 and
2007 was as follows:
|
|
|
|
|
|
|
|
|
2008
|
|
|
2007
|
|
Net
realized and unrealized (depreciation) appreciation
|
|
|
|
|
|
|
in
fair value of investments
|
|
$ |
(212,167,157 |
) |
|
|
44,948,064 |
|
Net
realized and unrealized (depreciation) appreciation
|
|
|
(212,167,157 |
) |
|
|
44,948,064 |
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
238,302 |
|
|
|
23,306 |
|
Dividends
|
|
|
8,509,596 |
|
|
|
20,935,009 |
|
Net
investment (loss) income
|
|
$ |
(203,419,259 |
) |
|
|
65,906,379 |
|
FASB
Statement No. 157 “Fair Value Measurements” (SFAS No. 157) establishes a
framework for measuring fair value and expands required disclosures about fair
value measurements of assets and liabilities. The Plan adopted the standard as
of January 1, 2008, and there was no financial statement impact resulting from
the adoption.
SFAS No.
157 defines fair value as the exchange price that would be received for an asset
or paid to transfer a liability (an exit price) in the principal or most
advantageous market for the asset or liability in an orderly transaction between
market participants on the measurement date. SFAS No. 157 also establishes a
fair value hierarchy that requires an entity to maximize the use of observable
inputs and minimize the use of unobservable inputs when measuring fair value.
The standard describes three levels of inputs that may be used to measure fair
value:
Level
1 — Quoted prices in active markets for identical assets or
liabilities.
Level
2 — Observable inputs other than Level 1 prices, such as quoted prices for
similar assets or liabilities; quoted prices in markets that are not active; or
other inputs that are observable or can be corroborated by observable market
data for substantially the full term of the assets or
liabilities.
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
Level
3 — Unobservable inputs that are supported by little or no market activity and
that are significant to the fair value of the assets or
liabilities.
The
Master Trust’s investments in stocks and mutual funds are classified as Level 1
assets in the fair value hierarchy, while the Master Trust’s investments in
common collective trusts are classified as Level 2 assets in the fair value
hierarchy.
Assets
and liabilities measured at fair value, as of December 31, 2008, are summarized
below:
|
|
Level
1
|
|
|
Level
2
|
|
|
Level
3
|
|
|
Total
|
|
Common
Stock
|
|
$ |
130,120,605 |
|
|
|
- |
|
|
|
- |
|
|
|
130,120,605 |
|
Registered
Investment Securities
|
|
|
150,320,458 |
|
|
|
- |
|
|
|
- |
|
|
|
150,320,458 |
|
Common
Collective Trusts
|
|
|
- |
|
|
|
157,653,795 |
|
|
|
- |
|
|
|
157,653,795 |
|
Total
|
|
$ |
280,441,063 |
|
|
|
157,653,795 |
|
|
|
- |
|
|
|
438,094,858 |
|
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
Fair
values of Master Trust investments at December 31, 2008 and 2007 were as
follows:
|
|
|
|
|
|
|
Description
|
|
2008
|
|
|
2007
|
|
Common
Collective Trusts
|
|
|
|
|
|
|
Wells
Fargo Stable Return E
|
|
$ |
92,054,997 |
|
|
|
83,706,503 |
|
Barclays
Global Investors
|
|
|
12,334,903 |
|
|
|
9,472,865 |
|
Registered
Investment Securities
|
|
|
|
|
|
|
|
|
Artisan
Mid Cap Fund
|
|
|
5,405,877 |
|
|
|
9,961,602 |
|
JP
Morgan MidCap Value
|
|
|
8,545,146 |
|
|
|
12,271,931 |
|
Fidelity
Diversified International Fund
|
|
|
28,339,242 |
|
|
|
55,049,741 |
|
Growth
Fund of America
|
|
|
41,181,028 |
|
|
|
69,498,831 |
|
ICM
Small Company
|
|
|
16,490,806 |
|
|
|
27,574,964 |
|
Vanguard
Institutional Index
|
|
|
11,669,037 |
|
|
|
18,891,792 |
|
American
Century Large Company Value Fund
|
|
|
35,190,860 |
|
|
|
61,240,057 |
|
Alger
Small Cap
|
|
|
3,498,462 |
|
|
|
7,952,213 |
|
Common
Stock
|
|
|
|
|
|
|
|
|
The
Toro Company Common Stock
|
|
|
130,120,605 |
|
|
|
217,508,364 |
|
Pooled
Funds
|
|
|
|
|
|
|
|
|
Pyramis
Index Lifecycle 2000
|
|
|
955,107 |
|
|
|
1,815,105 |
|
Pyramis
Index Lifecycle 2005
|
|
|
1,356,696 |
|
|
|
2,022,179 |
|
Pyramis
Index Lifecycle 2010
|
|
|
4,624,984 |
|
|
|
6,973,780 |
|
Pyramis
Index Lifecycle 2015
|
|
|
10,710,561 |
|
|
|
13,034,933 |
|
Pyramis
Index Lifecycle 2020
|
|
|
11,222,486 |
|
|
|
14,673,475 |
|
Pyramis
Index Lifecycle 2025
|
|
|
11,151,070 |
|
|
|
14,766,645 |
|
Pyramis
Index Lifecycle 2030
|
|
|
5,998,193 |
|
|
|
7,849,222 |
|
Pyramis
Index Lifecycle 2035
|
|
|
3,547,850 |
|
|
|
4,809,707 |
|
Pyramis
Index Lifecycle 2040
|
|
|
1,948,331 |
|
|
|
2,263,024 |
|
Pyramis
Index Lifecycle 2045
|
|
|
1,297,464 |
|
|
|
1,469,009 |
|
Pyramis
Index Lifecycle 2050
|
|
|
451,153 |
|
|
|
300,602 |
|
Total
investments
|
|
$ |
438,094,858 |
|
|
|
643,106,544 |
|
The
following presents investments in the Master Trust as of December 31, 2008 and
2007 that represent 5% or more of the Master Trust’s net assets.
Description
|
|
2008
|
|
|
2007
|
|
Wells
Fargo Stable Return E
|
|
$ |
92,054,997 |
|
|
|
83,706,503 |
|
Fidelity
Diversified International Fund
|
|
|
28,339,242 |
|
|
|
55,049,741 |
|
Growth
Fund of America
|
|
|
41,181,028 |
|
|
|
69,498,831 |
|
American
Century Large Company Value Fund
|
|
|
35,190,860 |
|
|
|
61,240,057 |
|
The
Toro Company Common Stock
|
|
|
130,120,605 |
|
|
|
217,508,364 |
|
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
(7)
|
Reconciliation
of Differences Between these Financial Statements and the Financial
Information Required on Form 5500:
|
|
|
December
31,
|
|
|
|
2008
|
|
Net
assets available for benefits as presented in these financial
statements
|
|
$ |
2,114,250 |
|
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2008
|
|
|
(10,842 |
) |
|
|
|
|
|
Net
assets available for benefits as presented on Form 5500
|
|
$ |
2,103,408 |
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
|
December
31,
|
|
|
|
2008
|
|
Net
(decrease) in net assets available for benefits as
|
|
|
|
|
presented
in these financial statements
|
|
$ |
(1,143,132 |
) |
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2008
|
|
|
(10,842 |
) |
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2007
|
|
|
681 |
|
Net
(decrease) in net assets available for benefits as
|
|
|
|
|
presented
on Form 5500
|
|
$ |
(1,153,293 |
) |
THE
TORO COMPANY PROFIT-SHARING PLAN
FOR
PLYMOUTH UNION EMPLOYEES
Notes to
Financial Statements
December
31, 2008 and 2007
|
|
December
31,
|
|
|
|
2007
|
|
Net
assets available for benefits as presented in these financial
statements
|
|
$ |
3,257,382 |
|
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2007
|
|
|
(681 |
) |
|
|
|
|
|
Net
assets available for benefits as presented on Form 5500
|
|
$ |
3,256,701 |
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
|
December
31,
|
|
|
|
2007
|
|
Net
increase in net assets available for benefits as
|
|
|
|
|
presented
in these financial statements
|
|
$ |
272,089 |
|
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2007
|
|
|
(681 |
) |
Adjustment
from contract value to fair value for
|
|
|
|
|
fully
benefit-responsive investment contracts at December 31,
2006
|
|
|
3,307 |
|
Adjustment
for employer contribution receivable at December 31, 2006
|
|
|
733 |
|
Adjustment
for employee contribution receivable at December 31, 2006
|
|
|
2,508 |
|
Net
increase in net assets available for benefits as
|
|
|
|
|
presented
on Form 5500
|
|
$ |
277,956 |
|
SIGNATURES
|
Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees
(or other persons who administer the employee benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
|
The
Toro Company Profit-Sharing Plan for
|
|
Plymouth
Union Employees
|
|
|
Date: June
26, 2009
|
By
/s/ Stephen P.
Wolfe
|
|
Stephen
P. Wolfe
|
|
Vice
President Finance
|
|
and
Chief Financial Officer
|
|
of
The Toro Company
|
Exhibit
Index
Exhibit Number
|
Description
|
23.1
|
Consent of Independent
Registered Public Accounting Firm
|