Big Lots Inc 11-K 12-31-2006
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
x
|
ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the
fiscal year ended December
31, 2006
or
o
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the
Transition Period From ______ to ______
Commission
File Number 33-19309
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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BIG
LOTS SAVINGS PLAN
B.
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Name
of issuer of the securities held pursuant to the plan and the address
of
its principal executive offices:
|
BIG
LOTS, INC.
300
Phillipi Road, P.O. Box 28512
Columbus,
Ohio 43228-0512
(614)
278-6800
Big
Lots Savings Plan
Financial
Statements as of and for the
Years
Ended December 31, 2006 and 2005,
Supplemental
Schedule as of December 31, 2006, and
Reports
of Independent Registered Public Accounting Firms
Big
Lots
Savings Plan
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Page
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM RELATING TO THE
FINANCIAL
STATEMENTS OF THE PLAN YEAR ENDED DECEMBER 31,
2006
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1
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM RELATING TO THE
FINANCIAL
STATEMENTS OF THE PLAN YEAR ENDED DECEMBER 31,
2005
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2
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FINANCIAL
STATEMENTS:
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Statements
of Net Assets Available for Benefits as of December 31, 2006 and
2005
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3
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Statements
of Changes in Net Assets Available for Benefits for the Years Ended
December 31, 2006 and 2005
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4
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Notes
to Financial Statements
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5
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SUPPLEMENTAL
SCHEDULE * :
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Form
5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at
End of
Year) as of December 31, 2006
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11
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SIGNATURE
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12
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EXHIBITS:
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Consent
of Ary Roepcke Mulchaey Stevenson, P.C.
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13
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Consent
of Deloitte & Touche LLP
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14
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*
All
other financial schedules required by Section 2520.103-10 of the U.S. Department
of Labor’s Annual Reporting and Disclosure Requirements under the Employee
Retirement Income Security Act of 1974 have been omitted because they are not
applicable.
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To
the
Associate Benefits Committee of the Big Lots Savings Plan
Columbus,
Ohio
We
have
audited the accompanying statement of net assets available for benefits of
the
Big Lots Savings Plan (the “Plan”) as of December 31, 2006 and the related
statement of changes in net assets available for benefits for the year 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 audit. The financial statements of the Plan for the
year
ended December 31, 2005, were audited by other auditors whose report dated
June
29, 2006 expressed an unqualified opinion on those statements.
We
conducted our audit in accordance with 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. The Plan is not required to have,
nor were we engaged to perform, an audit of its internal control over financial
reporting. Our audit included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in
the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Plan’s internal control over financial reporting.
Accordingly we express no such opinion. 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 the overall
financial statement presentation. We believe that our audit provides 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, 2006 and the changes in net assets available for benefits for
the
year then ended, in conformity with accounting principles generally accepted
in
the United States of America.
Our
audit
was performed for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedule of investments held
at
end of year December 31, 2006, is presented for the purpose of additional
analysis and is not a required part of the basic financial statements but is
supplementary information required by the Department of Labor’s Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental schedule is the responsibility of the
Plan’s management. The supplemental schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and, in our
opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/
Ary
Roepcke Mulchaey Stevenson, P.C.
Columbus,
Ohio
June
27,
2007
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To
the
Associate Benefits Committee of the Big Lots Savings Plan
Columbus,
Ohio
We
have
audited the accompanying statement of net assets available for benefits of
the
Big Lots Savings Plan (the “Plan”) as of December 31, 2005, and the related
statement of changes in net assets available for benefits for the year 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 audit.
We
conducted our audit in accordance with 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. The Plan is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audit included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose
of
expressing an opinion on the effectiveness of the Plan's internal control over
financial reporting. Accordingly, we express no such opinion. An
audit also includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
In
our
opinion, such financial statements present fairly, in all material respects,
the
net assets available for benefits of the Plan as of December 31, 2005, and
the
changes in net assets available for benefits for the year then ended in
conformity with accounting principles generally accepted in the United States
of
America.
/s/
Deloitte & Touche LLP
Dayton,
Ohio
June
29,
2006
Big
Lots Savings Plan
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER
31, 2006
AND
2005
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2006
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2005
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Assets
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Investments:
|
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Big
Lots, Inc. common shares, at fair value
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$
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50,748,845
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$
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27,888,974
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Common/Collective
trusts, at fair value
|
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35,086,805
|
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34,108,290
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Mutual
funds, at fair value
|
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56,523,011
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47,354,346
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Participant
loans, at contract value
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7,174,587
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6,800,343
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Total
investments
|
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149,533,248
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116,151,953
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Receivables:
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Company
contribution
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5,116,352
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5,172,186
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Participant
contributions
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109,476
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467,733
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Total
receivables
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5,225,828
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5,639,919
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Total
assets
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154,759,076
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121,791,872
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Liabilities
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Administrative
expenses payable
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53,566
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59,188
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Net
assets available for benefits
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$
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154,705,510
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$
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121,732,684
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The
accompanying notes are an integral part of these financial
statements.
Big
Lots Savings Plan
STATEMENTS
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
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2006
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2005
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Additions
to net assets attributed to:
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Investment
income:
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Net
appreciation
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$
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32,619,294
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$
|
4,471,481
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Dividends
|
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2,194,466
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886,889
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Interest
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443,192
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333,648
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Total
investment income
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35,256,952
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5,692,018
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Contributions:
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Company
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5,116,267
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5,361,354
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Participant
|
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8,948,930
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9,420,388
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Rollover
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159,961
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597,987
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Total
contributions
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14,225,158
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15,379,729
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Total
additions
|
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49,482,110
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21,071,747
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Deductions
from net assets attributed to:
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Benefits
paid to participants
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16,284,325
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10,333,976
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Administrative
expenses
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222,049
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226,510
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Total
deductions
|
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16,506,374
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10,560,486
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Transfers
(out) / in
|
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(2,910
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)
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28,390
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Net
increase
|
|
|
32,972,826
|
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10,539,651
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Net
assets available for benefits:
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Beginning
of year
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121,732,684
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111,193,033
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End
of year
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$
|
154,705,510
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$
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121,732,684
|
|
The
accompanying notes are an integral part of these financial
statements.
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
The
following description of the Big Lots Savings Plan (the “Plan”) provides only
general information. Participants should refer to the Plan agreement for a
more
complete description of the Plan’s provisions.
General
— The
Plan
is a defined contribution plan covering all employees of Big Lots, Inc. and
its
subsidiaries (the “Company”) who have completed one year of service and have
completed 1,000 service hours within the eligibility computation period and
have
attained 21 years of age. Eligible employees may begin participation on the
first day following satisfaction of eligibility requirements.
The
purpose of the Plan is to encourage employee savings and to provide benefits
to
participants in the Plan upon retirement, death, disability, or termination
of
employment. The Plan is intended to be qualified under Section 401(a) of the
Internal Revenue Code of 1986, as amended (the “Code”), and is subject to the
provisions of the Employee Retirement Income Security Act of 1974, as amended
(”ERISA”).
Trustee
— Ameriprise
Trust Company (the “Trustee”) serves as the trustee of the Plan (see Note H).
Administration
— The
Company has established the Associate Benefits Committee that is responsible
for
the general operation and administration of the Plan. The Company is the Plan
sponsor and a fiduciary of the Plan as defined by ERISA. The Trustee provides
recordkeeping services to the Plan.
Contributions
— Contributions
to the Plan may consist of participant contributions, Company matching
contributions, rollover contributions, and profit sharing contributions. Each
year, participants may contribute up to 50 percent of pretax annual compensation
(subject to certain limitations for highly compensated individuals), as defined
in the Plan. Participants may also rollover amounts representing distributions
from other qualified defined benefit or defined contribution plans.
Contributions withheld by the Company are participant directed and are subject
to certain Internal Revenue Service (“IRS”)
limitations. The
annual Company matching contribution is 100 percent of the first 2 percent
and
50 percent of the next 4 percent of participant contributions and was made
with
shares of Big Lots, Inc. common stock in 2006 and 2005. Beginning in 2007,
the
Company matching contribution was made in cash and was allocated to each
participant who (a) was an active participant and employed by the Company on
December 31 of the Plan year (including a participant who was on approved leave
of absence or layoff) and who completed one year of Vesting Service, as defined
by the Plan, or (b) who retired, became disabled, or died during the Plan year.
Additional profit sharing amounts may be contributed at the option of the
Company’s Board of Directors. No profit sharing contributions were made in 2006
or 2005.
Participant
Accounts — Each
participant account is credited with the participant’s contribution and
allocations of (a) the Company’s matching contribution, and (b) Plan earnings,
and charged with an allocation of administrative expenses. Allocations are
based
on participant earnings or account balances, as defined. The benefit to which
a
participant is entitled is the benefit that can be provided from the
participant’s vested account.
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
Administrative
Expenses — The
Company pays a portion of the expenses for administration of the Plan. All
other
administrative expenses are paid directly by the Plan.
Investments
— Participants
may direct the investment of their contributions in 1 percent increments into
various investment options offered by the Plan. Effective September 1, 2006,
the
Plan no longer offers shares of the Company’s common stock as an investment
option. Participants were not required to sell existing shares, however, they
can no longer purchase additional shares of the Company’s common
stock.
Vesting
— Participants
are immediately vested in participant and rollover contributions, plus actual
earnings thereon. Vesting in the Company matching contribution is based on
years
of service. A participant is 100 percent vested after five years of credited
service as follows:
Years
of Service
|
|
Vested
Percentage
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Less
than 2
|
|
-
|
At
least 2 but less than 3
|
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25
|
At
least 3 but less than 4
|
|
50
|
At
least 4 but less than 5
|
|
75
|
5
or more
|
|
100
|
Benefit
Payments — Upon
termination, retirement, disability, or death, a participant may elect (1)
to
receive a lump-sum amount equal to the vested interest value of their account
(in cash or in kind); (2) an eligible rollover distribution; or (3) to defer
distribution provided the participant has not attained age 70 ½ and has a vested
interest value of at least $1,000. The portion of the Company’s matching
contribution that is not fully vested will be forfeited at the time employment
terminates. The Company has the right to terminate or amend the Plan at any
time. If the Plan is terminated, the Plan assets will be distributed to the
participants, after payment of any expenses properly chargeable thereto, in
proportion to their respective account balances.
Participant
Loans — Participants
may borrow from their fund accounts a minimum of $1,000 up to a maximum equal
to
the lesser of $50,000 or 50 percent of their vested account balance. One loan
per participant may be outstanding at any time, and the loan term may not exceed
5 years. Loans are secured by the balance in the participant’s account. Loans
bear interest at the Prime rate plus 1 percent using the rate stated in
The
Wall Street Journal
on the
first business day of the month in which the loan was taken. Loan repayments,
including interest and applicable loan fees, are typically through regular
payroll deductions. The loan balance may be paid off at any time without
penalty.
Forfeited
Accounts — Forfeited
nonvested contributions are used to reduce Company matching contributions and
pay certain Plan expenses. Employer contributions and Plan expenses were reduced
by $81,252 and $180,000 in 2006 and 2005, respectively, from forfeited nonvested
accounts. There were no unused forfeitures at December 31, 2006 and
2005.
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
B.
|
SUMMARY
OF SIGNIFICANT ACCOUNTING
POLICIES
|
Basis
of Accounting — The
accompanying financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America
(“GAAP”).
Use
of Estimates — The
preparation of financial statements in conformity with GAAP requires management
to make estimates and assumptions that affect the reported amounts of assets
and
liabilities and changes therein, and disclosure of contingent assets and
liabilities. Actual results could differ materially from those estimates.
Investments
— Plan
investments, other than participant loans, are stated at fair value. Fair value
is determined by the respective quoted market prices for common shares and
mutual funds. Investments in common/collective trusts are valued at fair value
as estimated by the Trustee. Participant loans are valued at contract value
plus
accrued interest, which approximates fair value. The Plan holds various
investment instruments. Investment securities, 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 investment securities, it is
reasonably possible that changes in the value of investment securities will
occur in the near term and such changes could materially affect the amounts
reported in the statements of net assets available for benefits and statements
of changes in net assets available for benefits.
Income
Recognition — Purchases
and sales of securities are recorded on a settlement-date basis. The fair value
of the securities purchased or sold just before the financial statement date
does not change significantly from the trade date, and the purchases or sales
do
not significantly affect the composition of the Plan’s assets available
for benefits. Dividends are recorded on the ex-dividend date. Interest is
recorded on the accrual basis.
Payment
of Benefits — Benefit
payments are recorded when paid.
The
Plan
obtained its latest determination letter on August 4, 2003, in which
the IRS stated that the Plan was designed in accordance with the applicable
requirements of the Code. Subsequent to this determination letter by the IRS,
the Plan was amended. Once qualified, the Plan is required to operate in
conformity with the Code to maintain its qualification. The Plan administrator
believes the Plan is being operated in compliance with the applicable
requirements of the Code, and therefore, believes that the Plan is qualified
and
the related trust is tax exempt.
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
The
fair
value of individual investments that represent 5 percent or more of Plan net
assets at December 31, 2006 and 2005 are as follows:
|
|
2006
|
|
2005
|
|
Big
Lots, Inc. common shares: 2,214,173 and
|
|
|
|
|
|
|
|
2,322,146
shares, respectively
|
|
$
|
50,748,845
|
|
$
|
27,888,974
|
|
Riversource
Income Fund II:
|
|
|
|
|
|
|
|
1,297,209
and 1,324,751 shares, respectively
|
|
|
34,566,937
|
|
|
33,822,138
|
|
Davis
New York Venture Fund: 409,160 and
|
|
|
|
|
|
|
|
426,993
shares, respectively
|
|
|
15,760,850
|
|
|
14,389,676
|
|
The
Growth Fund of America: 306,160 and
|
|
|
|
|
|
|
|
296,962
shares, respectively
|
|
|
9,934,919
|
|
|
9,057,347
|
|
Artisan
International Fund: 342,098 and
|
|
|
|
|
|
|
|
294,005
shares, respectively
|
|
|
9,917,429
|
|
|
7,441,260
|
|
Participant
loans, at contract value
|
|
|
7,174,587
|
|
|
6,800,343
|
|
During
2006 and 2005, the Plan’s investments (including gains and losses on investments
bought and sold, as well as held during the year) appreciated in value as
follows:
|
|
2006
|
|
2005
|
|
Common/Collective
trusts
|
|
$
|
1,462,417
|
|
$
|
1,215,980
|
|
Mutual
funds
|
|
|
4,930,529
|
|
|
3,248,041
|
|
Big
Lots, Inc. common shares
|
|
|
26,226,348
|
|
|
7,460
|
|
Net
appreciation
|
|
$
|
32,619,294
|
|
$
|
4,471,481
|
|
Although
it has not expressed any intent to do so, the Company has the right under the
Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA. In the event the Company terminates or
partially terminates the Plan, affected participants would become 100 percent
vested in their account.
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
Certain
Plan investments are shares of mutual funds managed by the Trustee, its
subsidiaries and affiliates for which the Plan is charged. In addition, the
Plan
holds common shares of the Company and makes loans to participants. These
transactions qualify as exempt party-in-interest transactions.
G.
|
RECONCILIATION
OF FINANCIAL STATEMENTS TO FORM
5500
|
Upon
an
event of default in a participant loan, to the extent a distribution to the
participant is not permissible under the Plan, the amount due to the Plan on
account of the loan will be treated as a deemed distribution. A loan that is
a
deemed distribution is treated as a distribution on Form 5500 and removed from
Plan assets on Form 5500. However, in the Plan financial statements, and in
accordance with the Plan, such deemed distributions remain part of the
participant’s account balance until a distributable event occurs for the
participant.
The
following schedules reconcile participant loans and net assets available for
benefits per the financial statements at December 31, 2006 and 2005, to Form
5500:
|
|
2006
|
|
2005
|
|
|
|
|
|
|
|
Participant
loans, at contract value per the financial statements
|
|
$
|
7,174,587
|
|
$
|
6,800,343
|
|
Less:
Certain deemed distributions of participant loans
|
|
|
(170,306
|
)
|
|
(147,839
|
)
|
Participant
loans per Form 5500
|
|
$
|
7,004,281
|
|
$
|
6,652,504
|
|
|
|
2006
|
|
2005
|
|
|
|
|
|
|
|
Net
assets available for benefits per the financial statements
|
|
$
|
154,705,510
|
|
$
|
121,732,684
|
|
Less:
Certain deemed distributions of participant loans
|
|
|
(170,306
|
)
|
|
(147,839
|
)
|
Net
assets available for benefits per Form 5500
|
|
$
|
154,535,204
|
|
$
|
121,584,845
|
|
Big
Lots Savings Plan
NOTES
TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006
AND
2005
The
following is a reconciliation of the increase in net assets per the financial
statements for the year ended December 31, 2006, to Form 5500 net
income:
Net
increase in assets per the financial statements
|
|
$
|
32,972,826
|
|
Add:
Certain deemed distributions of participant loans at December
31,
2005
|
|
|
147,839
|
|
Less:
Certain deemed distributions of participant loans at December
31,
2006
|
|
|
(170,306
|
)
|
Add:
Transfers
|
|
|
2,910
|
|
Net
income per Form 5500
|
|
$
|
32,953,269
|
|
The
following is a reconciliation of benefits paid to participants per the financial
statements for the year ended December 31, 2006, to Form 5500:
Benefits
paid to participants per the financial statements
|
|
$
|
16,284,325
|
|
Less:
Previously deemed loans offset by total distributions
|
|
|
(18,061
|
)
|
Benefits
paid to participants per Form 5500
|
|
$
|
16,266,264
|
|
The
following is a reconciliation of interest income on participant loans per the
financial statements for the year ended December 31, 2006, to Form
5500:
Interest
Income on Participant Loans per the financial statements
|
|
$
|
443,192
|
|
Add:
Interest Income on deemed distributed loans
|
|
|
3,625
|
|
Interest
Income on Participant Loans per Form 5500
|
|
$
|
446,817
|
|
As
a
result of its 2006 purchase of the Ameriprise Trust Company, effective April
2,
2007, Wachovia Bank, N.A. became the Trustee and Plan Administrator of the
Plan.
Big
Lots
Savings Plan
EIN
#06-1119097 PLAN #002
FORM
5500, SCHEDULE H, PART IV, LINE 4i —SCHEDULE
OF ASSETS (HELD AT END OF YEAR)
(a)
|
|
(b)
Identity of issue, borrower, lessor or similar
party
|
|
(c)
Description of investment including maturity date, rate of interest,
collateral, par, or maturity value
|
|
(d)
Cost
|
|
(e)
Current value
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Big
Lots, Inc. |
|
Common
shares: 2,214,173 shares |
|
$
|
25,045,396
|
|
$
|
50,748,845
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common/Collective
trusts: |
|
|
|
|
|
|
|
|
|
|
*
|
|
Riversource
|
|
Income
Fund II: 1,297,209 shares |
|
|
30,842,835
|
|
|
34,566,937
|
|
*
|
|
Riversource
|
|
RVST
Money Mkt Fund II: 517,953 shares |
|
|
517,953
|
|
|
519,868
|
|
|
|
Total
common/collective trusts
|
|
|
|
|
|
31,360,788
|
|
|
35,086,805
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual
funds: |
|
|
|
|
|
|
|
|
|
|
|
|
Harbor
|
|
Bond
Fund: 274,874 shares |
|
|
3,238,232
|
|
|
3,177,544
|
|
|
|
American
|
|
Balanced
Fund: 305,252 shares |
|
|
5,485,409
|
|
|
5,787,587
|
|
|
|
American
Century Equity Inc
|
|
ADV
Fund: 98,746 shares |
|
|
841,347
|
|
|
848,230
|
|
|
|
Baron
|
|
Asset
Fund: 41,221 shares |
|
|
2,308,877
|
|
|
2,465,024
|
|
|
|
Baron
|
|
Growth
Fund: 36,476 shares |
|
|
1,735,042
|
|
|
1,819,448
|
|
|
|
Davis
New York
|
|
Venture
Fund: 409,160 shares |
|
|
11,388,313
|
|
|
15,760,850
|
|
|
|
The
Growth Fund of America
|
|
Growth
Fund: 306,160 shares |
|
|
8,706,769
|
|
|
9,934,919
|
|
*
|
|
Riversource
|
|
S&P
Index Fund: 1,011,824 shares |
|
|
4,701,515
|
|
|
5,544,799
|
|
|
|
Royce
|
|
Total
Return Fund: 58,050 shares |
|
|
762,219
|
|
|
798,196
|
|
|
|
Washington
Mutual
|
|
Investors
Fund: 13,515 shares |
|
|
443,609
|
|
|
468,985
|
|
|
|
Artisan
|
|
International
Fund: 342,098 shares |
|
|
7,356,841
|
|
|
9,917,429
|
|
|
|
Total
mutual funds
|
|
|
|
|
|
46,968,173
|
|
|
56,523,011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Participant
loans |
|
5.00%
- 9.25% |
|
|
-
|
|
|
7,174,587
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS HELD FOR INVESTMENT PURPOSES
|
|
$
|
103,374,357
|
|
$
|
149,533,248
|
|
* Party-in-interest
The
notes
to the financial statements are an integral part of this schedule.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the plan
administrator has duly caused this annual report to be signed on its behalf
by
the undersigned hereunto duly authorized.
|
|
BIG
LOTS SAVINGS PLAN
|
|
|
|
|
|
|
|
|
|
|
|
Dated:
June 27, 2007
|
|
By:
|
/s/
Brad A. Waite
|
|
|
|
Brad
A. Waite |
|
|
|
Executive
Vice President |
|
12