form11k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
T
|
ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For the
fiscal year ended December 31,
2007
or
£
|
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.
|
Full
title of the plan and the address of the plan, if different from that of
the issuer named below:
|
BIG
LOTS SAVINGS PLAN
B.
|
Name
of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
|
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, 2007 and 2006,
Supplemental
Schedule as of December 31, 2007, and
Report of
Independent Registered Public Accounting Firm
INDEX
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Page
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM RELATING TO THE FINANCIAL
STATEMENTS OF THE PLAN YEARS ENDED DECEMBER 31, 2007 AND
2006
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1
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FINANCIAL
STATEMENTS:
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2
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3
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4
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SUPPLEMENTAL
SCHEDULE * :
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10
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11
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EXHIBIT:
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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 Big Lots, Inc.:
Columbus,
Ohio
We have
audited the accompanying statements of net assets available for benefits of the
Big Lots Savings Plan (the “Plan”) as of December 31, 2007 and 2006 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 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 audits 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 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, 2007 and 2006, and the changes in net assets available for benefits
for the years then ended, in conformity with accounting principles generally
accepted in the United States of America.
Our
audits were 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, 2007, 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 2007
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, P.C.
Columbus,
Ohio
June 27,
2008
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER
31, 2007 AND 2006
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2007
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|
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2006
|
|
Assets
|
|
|
|
|
|
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Investments:
|
|
|
|
|
|
|
Big
Lots, Inc. common shares, at fair value
|
|
$ |
27,015,409 |
|
|
$ |
50,748,845 |
|
Common/Collective
trusts, at fair value
|
|
|
37,881,409 |
|
|
|
34,566,795 |
|
Mutual
funds, at fair value
|
|
|
68,944,427 |
|
|
|
57,040,964 |
|
Participant
loans, at contract value
|
|
|
8,602,100 |
|
|
|
7,174,587 |
|
Total
investments
|
|
|
142,443,345 |
|
|
|
149,531,191 |
|
|
|
|
|
|
|
|
|
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Receivables
for contributions:
|
|
|
|
|
|
|
|
|
Company
contribution
|
|
|
5,099,618 |
|
|
|
5,116,352 |
|
Participant
contributions
|
|
|
- |
|
|
|
109,476 |
|
Total
contribution receivable
|
|
|
5,099,618 |
|
|
|
5,225,828 |
|
|
|
|
|
|
|
|
|
|
Other
assets:
|
|
|
|
|
|
|
|
|
Cash
|
|
|
13,354 |
|
|
|
142 |
|
Fee
income receivable
|
|
|
67,098 |
|
|
|
- |
|
Due
from brokers
|
|
|
47,253 |
|
|
|
- |
|
Accrued
Income
|
|
|
1,802 |
|
|
|
1,915 |
|
Total
other assets
|
|
|
129,507 |
|
|
|
2,057 |
|
Total
assets
|
|
|
147,672,470 |
|
|
|
154,759,076 |
|
|
|
|
|
|
|
|
|
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Liabilities
|
|
|
|
|
|
|
|
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Administrative
expenses payable
|
|
|
55,008 |
|
|
|
53,566 |
|
Due
to brokers
|
|
|
60,608 |
|
|
|
- |
|
Fee
income payable
|
|
|
67,098 |
|
|
|
- |
|
Total
liabilities
|
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|
182,714 |
|
|
|
53,566 |
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|
|
|
|
|
|
|
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Net
assets available for benefits
|
|
$ |
147,489,756 |
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|
$ |
154,705,510 |
|
The
accompanying notes are an integral part of these financial
statements.
STATEMENTS
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
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|
2007
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|
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2006
|
|
|
|
|
|
|
|
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Additions
to net assets attributed to:
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|
|
|
|
|
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Investment
income:
|
|
|
|
|
|
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Net
(depreciation) / appreciation
|
|
$ |
(5,926,307 |
) |
|
$ |
32,619,294 |
|
Dividends
|
|
|
4,372,380 |
|
|
|
2,194,466 |
|
Interest
|
|
|
610,213 |
|
|
|
443,192 |
|
Fee
income
|
|
|
271,169 |
|
|
|
- |
|
Total
investment (loss) / income
|
|
|
(672,545 |
) |
|
|
35,256,952 |
|
|
|
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
|
|
|
|
Company
|
|
|
5,099,618 |
|
|
|
5,116,267 |
|
Participant
|
|
|
9,306,780 |
|
|
|
8,948,930 |
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Rollover
|
|
|
374,557 |
|
|
|
159,961 |
|
Total
contributions
|
|
|
14,780,955 |
|
|
|
14,225,158 |
|
Total
additions
|
|
|
14,108,410 |
|
|
|
49,482,110 |
|
|
|
|
|
|
|
|
|
|
Deductions
from net assets attributed to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefits
paid to participants
|
|
|
20,834,786 |
|
|
|
16,284,325 |
|
Administrative
expenses
|
|
|
218,209 |
|
|
|
222,049 |
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Fee
expense
|
|
|
271,169 |
|
|
|
- |
|
Total
deductions
|
|
|
21,324,164 |
|
|
|
16,506,374 |
|
Net
(decrease)/increase prior to transfer
|
|
|
(7,215,754 |
) |
|
|
32,975,736 |
|
Transfers
out
|
|
|
- |
|
|
|
(2,910 |
) |
Net
(decrease) / increase
|
|
|
(7,215,754 |
) |
|
|
32,972,826 |
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits:
|
|
|
|
|
|
|
|
|
Beginning
of year
|
|
|
154,705,510 |
|
|
|
121,732,684 |
|
End
of year
|
|
$ |
147,489,756 |
|
|
$ |
154,705,510 |
|
The
accompanying notes are an integral part of these financial
statements.
NOTES TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
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”).
Amendments —
During 2007, the Plan was restated and amended to, among other things,
permit participants to make Roth contributions to the Plan as noted under
“Contributions” and change the Plan’s definition of compensation to include
overtime. Roth contributions are after-tax contributions.
Trustee —
Wachovia Bank, N.A. (the “Trustee”) serves as the trustee of the Plan
(see Note I).
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, a participant may elect to make a voluntary
tax-deferred or after tax contribution up to 50% of their annual compensation
(subject to certain limitations for highly compensated individuals), as defined
in the Plan. Prior to 2007, the Plan did not allow for after tax
contributions. 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 limited
by the Internal Revenue Service (“IRS”) to an annual maximum of $15,500 in 2007.
Additional contributions of up to $5,000 in 2007 are allowed by the IRS for all
eligible participants at least age 50 by the end of 2007. The annual Company
matching contribution is 100 percent of the first two percent and 50 percent of
the next four percent of participant contributions 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 2007
or 2006.
Big
Lots Savings Plan
NOTES TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
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.
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.
The investment funds pay certain fees to the Plan’s trustee. During
2007, $271,169 of such fees were paid by the investment funds to the Plan, and
were reported in the financial statements as fee income. The Plan then paid the
$271,169 of fees to the Trustee and, as a result, the Plan recognized this
amount as fee expense. Prior to 2007, such fees were paid by the
investment funds directly to the Plan’s trustee.
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 within the Plan.
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
|
|
|
Less
than 2
|
–
|
At
least 2 but less than 3
|
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 five years. Loans are secured by the balance in the
participant’s account. Loans bear interest at the Prime rate plus one 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.
Big
Lots Savings Plan
NOTES TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
Forfeited
Accounts — Forfeited nonvested contributions are used to reduce Company
matching contributions and pay certain Plan expenses. Employer contributions
were reduced by $122,000 and $81,252 in 2007 and 2006, respectively, from
forfeited nonvested accounts. There were no unused forfeitures at
December 31, 2007 and 2006.
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 in an active
market 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
trade-date basis. Dividends are recorded on the ex-dividend date. Interest is
recorded on the accrual basis.
Payment of
Benefits — Benefit payments are recorded when paid.
Recent Accounting
Pronouncement — In September 2006, the Financial Accounting Standards
Board issued Statement of Financial Standards No. 157, “Fair Value Measurement”
(“SFAS No. 157”). SFAS No. 157 provides a single definition of fair value that
is to be applied consistently for most accounting applications and also
generally describes and prioritizes, according to reliability, the methods and
inputs used in valuations. SFAS No. 157 is effective for the Plan beginning
January 1, 2008. The Plan believes that the adoption of SFAS No. 157 will not
have a material impact on the Plan’s financial statements.
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, 2007 AND 2006
The fair
value of individual investments that represent five percent or more of Plan net
assets at December 31, 2007 and 2006 are as follows:
|
|
2007
|
|
|
2006
|
|
Big
Lots, Inc. common shares: 1,689,519 and 2,214,173 shares,
respectively
|
|
$ |
27,015,409 |
|
|
$ |
50,748,845 |
|
|
|
|
|
|
|
|
|
|
Riversource
Income Fund II: 1,356,735 and 1,297,209 shares,
respectively
|
|
|
37,881,409 |
|
|
|
34,568,034 |
|
|
|
|
|
|
|
|
|
|
Davis
New York Venture Fund: 408,707 and 409,160 shares,
respectively
|
|
|
16,352,369 |
|
|
|
15,760,850 |
|
|
|
|
|
|
|
|
|
|
The
Growth Fund of America: 342,255 and 306,160 shares,
respectively
|
|
|
11,472,388 |
|
|
|
9,934,919 |
|
|
|
|
|
|
|
|
|
|
Artisan
International Fund: 431,053 and 342,098 shares,
respectively
|
|
|
12,879,864 |
|
|
|
9,917,429 |
|
|
|
|
|
|
|
|
|
|
Riversource
S & P 500 Index Fund: 1,478,972 and 1,011,824 shares,
respectively
|
|
|
7,749,818 |
|
|
|
5,544,799 |
|
|
|
|
|
|
|
|
|
|
Participant
loans, at contract value
|
|
|
8,602,100 |
|
|
|
7,174,587 |
|
During
2007 and 2006, the Plan’s investments (including gains and losses on investments
bought and sold, as well as held during the year) (depreciated)/appreciated in
value as follows:
|
|
2007
|
|
|
2006
|
|
Common/Collective
trusts
|
|
$ |
1,711,460 |
|
|
$ |
1,462,417 |
|
Mutual
funds
|
|
|
1,192,285 |
|
|
|
4,930,529 |
|
Big
Lots, Inc. common shares
|
|
|
(8,830,052 |
) |
|
|
26,226,348 |
|
Net
(depreciation) / appreciation
|
|
$ |
(5,926,307 |
) |
|
$ |
32,619,294 |
|
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, 2007 AND 2006
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, 2007 and 2006, to Form
5500:
|
|
2007
|
|
|
2006
|
|
|
|
|
|
|
|
|
Participant
loans, at contract value per the financial statements
|
|
$ |
8,602,100 |
|
|
$ |
7,174,587 |
|
Less: Certain
deemed distributions of participant loans
|
|
|
(150,580 |
) |
|
|
(170,306 |
) |
Participant
loans per Form 5500
|
|
$ |
8,451,520 |
|
|
$ |
7,004,281 |
|
|
|
2007
|
|
|
2006
|
|
|
|
|
|
|
|
|
Net
assets available for benefits per the financial statements
|
|
$ |
147,489,756 |
|
|
$ |
154,705,510 |
|
Less: Certain
deemed distributions of participant loans
|
|
|
(150,580 |
) |
|
|
(170,306 |
) |
Net
assets available for benefits per Form 5500
|
|
$ |
147,339,176 |
|
|
$ |
154,535,204 |
|
Big
Lots Savings Plan
NOTES TO
FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
The
following is a reconciliation of the decrease in net assets per the financial
statements for the year ended December 31, 2007, to Form 5500 net
income:
Net
decrease in assets per the financial statements
|
|
$ |
(7,215,754 |
) |
Add: Certain
deemed distributions of participant loans at December 31, 2006
|
|
|
170,306 |
|
Less: Certain
deemed distributions of participant loans at December 31,
2007
|
|
|
(150,580 |
) |
Net
loss per Form 5500
|
|
$ |
(7,196,028 |
) |
The
following is a reconciliation of benefits paid to participants per the financial
statements for the year ended December 31, 2007, to Form 5500:
Benefits
paid to participants per the financial statements
|
|
$ |
20,834,786 |
|
Less: Previously
deemed loans offset by total distributions
|
|
|
(16,069 |
) |
Benefits
paid to participants per Form 5500
|
|
$ |
20,818,717 |
|
The
following is a reconciliation of interest income on participant loans per the
financial statements for the year ended December 31, 2007, to Form
5500:
Interest
Income on Participant Loans per the financial statements
|
|
$ |
610,213 |
|
Add: Interest
Income on deemed distributed loans
|
|
|
164 |
|
Interest
Income on Participant Loans per Form 5500
|
|
$ |
610,377 |
|
Certain
prior year amounts have been reclassified to conform to the current year
financial statement presentation.
I.
|
CHANGE
IN PLAN TRUSTEES
|
As a
result of its 2007 purchase of the Ameriprise Trust Company, effective April 2,
2007, Wachovia Bank, N.A. became the Trustee and Plan Administrator of the Plan.
During 2006 and until April 2, 2007, Ameriprise Trust Company was the Plan
Trustee.
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: 1,689,519 shares
|
|
|
|
$
27,015,409
|
|
|
|
|
|
|
|
|
|
Common/Collective
trusts:
|
|
|
|
|
|
|
*
|
Riversource
|
|
Income
Fund II: 1,356,735 shares
|
|
|
|
37,881,409
|
|
|
|
|
|
|
|
|
|
Mutual
funds:
|
|
|
|
|
|
|
*
|
Evergreen
|
|
Evergreen
MMF: 388,918 shares
|
|
|
|
388,918
|
|
Harbor
|
|
Bond
Fund: 335,563 shares
|
|
|
|
3,993,202
|
|
American
|
|
Balanced
Fund: 332,137 shares
|
|
|
|
6,390,323
|
|
American
Century Equity Inc
|
|
ADV
Fund: 136,730 shares
|
|
|
|
1,066,496
|
|
Baron
|
|
Asset
Fund: 55,936 shares
|
|
|
|
3,567,097
|
|
Baron
|
|
Growth
Fund: 56,346 shares
|
|
|
|
2,855,084
|
|
Davis
New York
|
|
Venture
Fund: 408,707 shares
|
|
|
|
16,352,369
|
|
The
Growth Fund of America
|
|
Growth
Fund: 342,255 shares
|
|
|
|
11,472,388
|
*
|
Riversource
|
|
S&P
Index Fund: 1,478,972 shares
|
|
|
|
7,749,818
|
|
Royce
|
|
Total
Return Fund: 103,488 shares
|
|
|
|
1,338,101
|
|
Washington
Mutual
|
|
Investors
Fund: 26,613 shares
|
|
|
|
890,767
|
|
Artisan
|
|
International
Fund: 431,053 shares
|
|
|
|
12,879,864
|
|
Total
mutual funds
|
|
|
|
|
|
68,944,427
|
|
|
|
|
|
|
|
|
*
|
Participant
loans
|
|
5.0%
- 10.5%
|
|
|
|
8,602,100
|
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS HELD FOR INVESTMENT PURPOSES
|
|
|
|
$ 142,443,345
|
|
|
|
|
|
|
|
* Party-in-interest
|
|
** Cost
is not applicable for participant directed
investments
|
The notes
to the financial statements are an integral part of this
schedule.
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, 2008
|
By:
|
/s/ Brad A. Waite
|
|
Brad
A. Waite
|
|
Executive
Vice President, Human Resources, Loss Prevention, and Risk
Management
|
11