e11vk
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2006
OR
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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: 333-43447
Ingram Micro 401(k) Investment Savings Plan
(Full title of the plan and the address of the plan if different from that of the issuer named below)
Ingram Micro Inc.
1600 E. St. Andrew Place
Santa Ana, CA 92705
(Name of issuer of the securities held pursuant to the plan and the address of its principal executive office)
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees have duly
caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.
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INGRAM MICRO 401(k) INVESTMENT SAVINGS PLAN |
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By:
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/s/ Matthew Sauer |
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Name:
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Matthew Sauer |
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Member of the Ingram Micro Benefits |
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Administrative Committee |
June 22, 2007
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
Financial Statements
and
Supplemental Schedule
As of December 31, 2006 and 2005 and
for the Year Ended December 31, 2006
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
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Note: |
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Schedules other than that listed above have been omitted because
they are not applicable or are not required by 29 CFR 2520.103-10 of
the Department of Labors Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of
1974, as amended. |
2
Report of Independent Registered Public Accounting Firm
To the Ingram Micro Inc. Benefits Administrative Committee
Santa Ana, California
We have audited the accompanying statements of net assets available for plan benefits of the Ingram
Micro 401(k) Investment Savings Plan (the Plan) as of December 31, 2006 and 2005, and the related
statement of changes in net assets available for plan benefits for the year ended December 31,
2006. These financial statements are the responsibility of the Plans 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. The
Plan is not required to have, nor were we engaged to perform, an audit of its internal controls
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 Plans 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 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 plan benefits of the Plan as of December 31, 2006 and 2005,
and the changes in net assets available for plan benefits for the year ended December 31, 2006 in
conformity with accounting principles generally accepted in the United States of America.
Our audits were performed for the purpose of forming opinions on the basic financial statements
taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of
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
Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplemental schedule is the responsibility of the Plans management.
The supplemental schedule has been subjected to the auditing procedures applied in the audits of
the basic financial statements, and in our opinion, is fairly presented in all material respects in
relation to the basic financial statements taken as a whole.
As discussed in Note 1, the Plan adopted Financial Accounting Standards Board Staff Position, FSP
AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by
Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution
Health and Welfare and Pension Plans, as of December 31, 2006 with retroactive application as of
December 31, 2005.
BDO Seidman, LLP
Costa Mesa, California
June 19, 2007
3
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
Statements of Net Assets Available for Plan Benefits
As of 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, at fair value |
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$ |
168,896,736 |
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$ |
150,814,507 |
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Other receivables |
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4,993 |
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Total assets, at fair value |
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168,896,736 |
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150,819,500 |
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Liabilities |
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Accrued administrative expenses |
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24,175 |
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Total liabilities |
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24,175 |
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Net assets available for plan benefits, at fair value |
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168,872,561 |
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150,819,500 |
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Adjustment from fair value to contract value for
fully benefit-responsive investment contracts |
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174,258 |
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191,971 |
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Net assets available for plan benefits |
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$ |
169,046,819 |
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$ |
151,011,471 |
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See accompanying notes to financial statements.
4
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
Statement of Changes in Net
Assets Available for Plan Benefits
For the Year Ended December 31, 2006
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Additions to net assets attributed to: |
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Contributions: |
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Employer contributions, net of forfeitures |
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$ |
2,900,138 |
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Participant contributions |
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11,499,230 |
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Participant rollovers |
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1,251,081 |
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Total contributions |
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15,650,449 |
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Investment income: |
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Dividends and interest |
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8,699,737 |
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Participant loan interest |
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303,889 |
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Net appreciation in fair value of registered investment companies |
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10,237,887 |
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Net appreciation in fair value of common stock |
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147,773 |
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Total investment income |
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19,389,286 |
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Total additions |
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35,039,735 |
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Deductions from net assets attributed to: |
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Benefits paid to participants |
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16,830,420 |
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Administrative expenses |
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173,967 |
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Total deductions |
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17,004,387 |
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Net increase |
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18,035,348 |
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Net assets available for plan benefits beginning of year |
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151,011,471 |
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Net assets available for plan benefits end of year |
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$ |
169,046,819 |
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See accompanying notes to financial statements.
5
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 DESCRIPTION OF PLAN
The following description of the Ingram Micro 401(k) Investment Savings Plan (the Plan) provides
only general information. Participants should refer to the Plan document for a more complete
description of the Plans provisions.
General - The Plan is a defined contribution plan covering substantially all of the United States
employees of Ingram Micro Inc. (the Company). The Plan is designed to comply with Section 401(a) of
the Internal Revenue Code as a defined contribution plan and its incorporated Trust is intended to
qualify as a tax-exempt trust under Section 501(a) of the Internal Revenue Code. The Plan is
subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended
(ERISA).
The Plan is administered by the Company and advised by the Benefits Administrative Committee
appointed by the Companys Board of Directors. Effective April 1, 2005, the Plan was amended and
restated and a new trustee, custodian and record keeper of the Plan, Fidelity Management Trust
Company and its affiliates (the Trustee or Fidelity) were appointed. Plan assets transferred to
Fidelity were transferred into funds meant to be comparable to those offered by the previous
trustee, custodian and record keeper, Putnam Fiduciary Trust Company and its affiliates (Putnam).
The conversion initiated a Black Out period beginning March 24, 2005 that continued through April
12, 2005. During this period, funds could not be applied to the employee selected funds with the
Trustee or withdrawn from the Plan until the Trustee had time to accurately complete the
conversion. Hewitt Investment Group acts as the investment consultant to the Plan.
Contributions Effective April 1, 2005, contributions were made to the Plan by means of a salary
deferral agreement under which the participant is entitled to defer pre-tax and after-tax
compensation up to the lesser of 50 percent of eligible compensation for non highly compensated
participants, and a percentage (not to exceed 50%) determined by the Company of eligible
compensation for highly compensated participants, or a fixed amount determined annually by the
Internal Revenue Service (IRS). The Company matches 50 percent of participant contributions up to
the first 5 percent of eligible compensation. Matching contributions are not made on catch-up
contributions.
Prior to April 1, 2005, contributions were made to the Plan by means of a salary deferral
agreement under which the participant was entitled to defer pre-tax and after-tax compensation up
to the lesser of 15 percent of eligible compensation for non highly compensated participants, and
5 percent for highly compensated participants, or a fixed amount determined annually by the IRS.
The Company matched from 50 percent to 100 percent of participant contributions up to the first 5
percent of eligible compensation depending upon the participants years of service.
Participant Accounts - Each participant account is credited with the participants contribution
and allocations of (a) the Companys matching contribution and (b) Plan net earnings, which
include an allocation of certain administrative expenses. Allocations of matching contributions
are based on participant contributions, as defined. Allocations of Plan net earnings and
administrative expenses, when applicable, are based on participant account balances, investment
elections, and transactions, such as loans or qualified domestic relations orders. The benefit
to which a participant is entitled is the benefit that can be provided from the participants
vested interest in their account balance.
6
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO THE FINANCIAL STATEMENTS (Continued)
NOTE 1 DESCRIPTION OF PLAN (Continued)
Participant Loans - Participants may borrow 50 percent of their vested account balance up to
$50,000 at a commercially reasonable interest rate with payment of principal and interest made
through payroll deductions. Loans with repayment terms in excess of five years are for the purchase
of primary residences. The loans are secured by the balance in the participants account.
Participant loans are stated at the unpaid principal value, which is estimated to approximate fair
value and bear interest at rates that range from 5.00 percent to 10.50 percent.
Management determines the collectibility of participant loans on a periodic basis. This
determination is made based on the terms of the Plan document and the related Plan policies and
procedures. Those participant loans that are deemed to be uncollectible are written off and
included as benefits paid to participants in the financial statements and the Form 5500 for
financial reporting purposes in the year the determination is made.
Eligibility Effective April 1, 2005, employees other than those that are employed under a
collective bargaining agreement, leased, or an employee who is a nonresidential alien with no
United States income source are eligible to enter the Plan following the completion of their first
hour of credited service with the Company. Associates employed on a temporary or nonpermanent
basis who complete at least 1,000 hours of service within a computation period shall be eligible
to become a participant on the earlier of the first day of the Plan year beginning after the
computation period, or six months after the completion of such computation period. The
computation period means the twelve month period beginning on the employees date of hire or any
Plan year beginning after the date of hire.
Prior to April 1, 2005, employees other than those that were employed under a collective
bargaining agreement, leased, expatriate employees covered by a nonqualified plan provided such
expatriate employees had no United States income source, or employed on a temporary basis were
eligible to enter the Plan following the completion of the third month of employment with the
Company.
Vesting - Participants are vested in their contributions plus net earnings, immediately. Vesting in
the Companys matching contribution is based on years of service. A year of vesting service is
defined as any period in which a participant completes 365 days of service. The following schedule
describes the vesting percentages for participants.
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Years of Service |
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Vested Benefit Percentage |
1 year but less than 2 |
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20 |
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2 years but less than 3 |
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40 |
% |
3 years but less than 4 |
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60 |
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4 years but less than 5 |
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80 |
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5 years or more |
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100 |
% |
7
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 1 DESCRIPTION OF PLAN (Continued)
Payment of Benefits - Upon termination of service before the normal retirement age of 65, a
participant with benefits of over $5,000 may elect to defer distribution until normal retirement
age or receive a lump sum payment equal to the vested share of the participants account.
Upon termination of service at the normal retirement age of 65, a participant may elect to receive
a lump sum payment equal to the vested value of his or her account. Benefits may also be accessed
in the event of disability or death. The Plan allows participants to make early withdrawals for
certain financial hardships. The Plan also allows in-service withdrawals by participants after they
reach age 591/2. In addition, in-service withdrawals may be taken from a participants rollover
account or after-tax contribution account. Participants taking in-service withdrawals will be
required to pay all applicable taxes on the withdrawals and may be subject to penalty taxes for
early withdrawals taken prior to age 591/2.
Forfeitures - Forfeitures of nonvested Plan assets are used to reduce the Companys matching
contributions and costs of administering the Plan. Total forfeited nonvested accounts were $6,842
and $42,984 at December 31, 2006 and 2005, respectively, and will be used to reduce future
employer contributions. Employer contributions were reduced by forfeited nonvested accounts
totaling $465,426 for the year ended December 31, 2006.
Administrative Expenses - The Plan Sponsor or the Plan may pay the Plan fees and expenses,
including fees and expenses connected with the providing of administrative services by external
service providers. For the year ended December 31, 2006 the Plan paid $173,967 in administrative
expenses. All other administrative expenses, other than loan and qualified domestic relations
order fees paid by the Plan participants, were paid by the Company and were not material to the
financial statements taken as a whole
New Accounting Pronouncement As described in the Financial Accounting Standards Board (the
FASB) Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive
Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company
Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP), investment
contracts held in 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 plan 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 Plan invests in fully benefit-responsive investment contracts held in the Fidelity Managed
Income Portfolio Fund (see Note 2 to financial statements). The Plan adopted the provisions of
this new FSP as of December 31, 2006 and applied it retroactively to its December 31, 2005
Statement of Net Assets Available for Benefits. The Plans Statements of Net Assets Available for
Benefits present the fair value of these investment contracts as well as the related adjustment
from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits
is prepared on a contract value basis.
8
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 1 DESCRIPTION OF PLAN (Continued)
In September 2006, the FASB issued Statement on Financial Accounting Standards No. 157 (SFAS 157),
Fair Value Measurements. SFAS 157 establishes a single authoritative definition of fair value,
sets out a framework for measuring fair value and requires additional disclosures about fair value
measurement. SFAS 157 is effective for financial statements issued for fiscal years beginning
after November 15, 2007. The Company believes the adoption of SFAS 157 will not have a material
impact on the Plans financial statements.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting - The financial statements of the Plan are prepared under the accrual basis
of accounting. Administrative expenses are recorded as incurred. Benefits are reported when paid.
Use of Estimates - The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of net assets available and changes therein, and
disclosure of contingent assets and liabilities. Actual results could materially differ from those
estimates.
Risks and Uncertainties The fair value of the Plans investment in Ingram Micro Inc. common
stock amounted to $7,462,129 and $9,272,153 as of December 31, 2006 and 2005, respectively. Such
investments represented 4.41% and 6.14% of the Plans total net assets available for Plan
benefits as of December 31, 2006 and 2005, respectively. For risks and uncertainties regarding
Ingram Micro Inc., participants should refer to the December 30, 2006, Form 10-K and the April 1,
2006, July 1, 2006, September 30, 2006, and March 31, 2007 Forms 10-Q of Ingram Micro Inc.
The Plan provides for various funds that hold investment securities. Investment securities are
exposed to various risks such as interest rate, market, and credit risk. Due to the level of
risk associated with certain investment securities and the level of uncertainty related to
changes in the value of investment securities, it is reasonably possible that changes in risk in
the near term could materially affect participants account balances and the amounts reported in
the Statements of Net Assets Available for Plan Benefits and the Statement of Changes in Net
Assets Available for Plan Benefits.
The Plan invests in various investment options that invest in securities of foreign companies,
which involve special risks and considerations not typically associated with investing in U.S.
companies. These risks include devaluation of currencies, less reliable information about issuers,
different securities transaction clearance and settlement practices, and possible adverse political
and economic developments. Moreover, securities of many foreign companies and their markets may be
less liquid and their prices more volatile than securities of comparable U.S. companies.
Investment Valuation and Income Recognition Investments in shares of registered investment
companies are stated at fair value, based on the net asset value of the underlying investments and
are valued daily. Investments in common and collective trusts are stated at fair value based on
the value of the underlying investments and are expressed in units. The Fidelity Managed Income
Portfolio Fund consists primarily of fully benefit-responsive investment contracts. In determining
the net assets
9
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
available for plan benefits, the Fidelity Managed Income Portfolio Fund is included in the Plans
financial statements at contract value, which represents contributions made under the contracts,
plus earnings, less withdrawals and administrative expenses. As provided in the new FSP, an
investment contract is generally valued at contract value, rather than fair value, to the extent it
is fully benefit-responsive. The average yield to maturity and crediting interest rate for that
fund was approximately 4.27% and 3.65% at December 31, 2006 and 2005, respectively. The Companys
Common Stock is stated at fair value based on the quoted market price of the underlying shares of
stock held at year end. Participant loans are recorded at cost, which approximates fair value.
Purchases and sales of securities are recorded on the trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
Net Appreciation (Depreciation) in Fair Value of Investments Realized and unrealized
appreciation (depreciation) in the fair value of investments is based on the difference between
the fair value of the assets at the beginning of the year, or at the time of purchase for assets
purchased during the year, and the related fair value on the day investments are sold with
respect to realized appreciation (depreciation), or on the last day of the year for unrealized
appreciation (depreciation).
NOTE 3 INVESTMENT ELECTIONS
The Trustee invests contributions in accordance with participant instructions. Participants may
elect changes to their investment mix effective each business day. Participants may effect
changes to their deferral percentages and deferral investment elections coincident with their pay
frequency.
NOTE 4 INVESTMENTS
The following table presents the fair value of investments. Investments greater than 5 percent of
the Plans net assets as of December 31, 2006 and 2005, are separately identified as follows:
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2006 |
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2005 |
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Investments Valued at Fair Value as Determined by Quoted Market Prices: |
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Registered Investment Companies: |
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American Funds Group |
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Growth Fund of America, 917,323 and 917,135 units, respectively |
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$ |
29,959,763 |
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$ |
28,137,703 |
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Fidelity Management Trust Co. |
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Diversified International Fund, 521,160 and 454,171 units, respectively |
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19,256,860 |
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14,778,727 |
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Fidelity Management Trust Co. |
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Equity Income Fund, 516,638 and 508,043 units, respectively |
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30,249,173 |
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26,814,494 |
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Fidelity Management Trust Co. |
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Spartan U.S. Equity Index Fund, 366,480 and 381,886 units, respectively |
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18,389,949 |
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16,864,106 |
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Artisan Funds, Inc. |
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Small Cap Value Fund, 482,631 and 406,664 units, respectively |
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8,725,976 |
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7,014,952 |
* |
10
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 4 INVESTMENTS (Continued)
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2006 |
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2005 |
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Other Registered
Investment Companies
(individually less than 5%
of net Plan assets) |
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33,245,501 |
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26,751,504 |
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Total Registered
Investment
Companies |
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139,827,222 |
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120,361,486 |
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Common Stock: |
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Ingram Micro Inc. |
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Ingram Micro Inc. Stock, 365,560 and 465,217 shares, respectively |
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7,462,129 |
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9,272,153 |
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Total
Investments
Valued at Fair
Value as
Determined by
Quoted Market
Prices |
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147,289,351 |
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129,633,639 |
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* Less than 5% of Plan Net Assets |
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Investments Valued at Estimated Fair Value: |
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Common and Collective Trusts: |
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Fidelity Management Trust Co. |
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Managed Income Portfolio Fund,17,512,130 and 17,101,755 units, respectively |
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17,337,872 |
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16,909,784 |
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Total Common and
Collective Trusts |
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17,337,872 |
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16,909,784 |
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Other Participant loans (less than 5% of net Plan assets) |
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4,269,513 |
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4,271,084 |
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Total Investments
Valued at
Estimated Fair Value |
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21,607,385 |
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21,180,868 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
$ |
168,896,736 |
|
|
$ |
150,814,507 |
|
|
|
|
|
|
|
|
|
|
During 2006, the Plans investments (including gains and losses on investments bought and
sold as well as held during the year) appreciated in value by $10,385,660 as follows:
|
|
|
|
|
Net Change in Fair Value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments Valued at Fair Value as Determined by Quoted
Market Prices: |
|
|
|
|
Registered Investment Companies |
|
$ |
10,237,887 |
|
Ingram Micro Inc. Stock |
|
|
147,773 |
|
|
|
|
|
|
|
|
|
|
Net Appreciation in Fair Value of Investments |
|
$ |
10,385,660 |
|
|
|
|
|
11
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 5 EMPLOYER STOCK
Participants may not invest more than 50 percent of their contributions into Ingram Micro Inc.
Stock and are not permitted to transfer funds from the Plans other investment options into
Ingram Micro Inc. Stock. Participants may, however, transfer funds out of Ingram Micro Inc. Stock
into any of the Plans other funds.
NOTE 6 PARTY-IN-INTEREST
Certain Plan investments are managed by Fidelity, effective April 1, 2005. Prior to April 1,
2005, certain Plan investments were managed by Putnam, the previous trustee. Fidelity and Putnam
act as trustee as defined by the Plan and, therefore, these transactions qualify as
party-in-interest transactions. Fees paid to Fidelity for the year ended December 31, 2006 were
not material. The Plan also engages in certain transactions involving Ingram Micro Inc. such as
the purchase and sale of Ingram Micro Inc.s common stock. These transactions qualify as
party-in-interest transactions.
NOTE 7 PLAN TERMINATION
Although the Company has not expressed any intent to do so, it 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 of Plan termination, the net assets of the Plan will be allocated as
prescribed by ERISA and its related regulations, so that each participant receives 100 percent of
his or her account vested balance as of the date of the termination.
NOTE 8 TAX STATUS
The trust established under the Plan to hold the Plans assets is designed to qualify pursuant to
Section 501(a) of the Internal Revenue Code, and, accordingly, the trusts net investment income
is exempt from income taxes. The Plan has received a favorable determination letter of its
tax-exempt status from the IRS by a letter dated November 12, 1998. Although the Plan has been
amended and restated since receiving the determination letter, the Plan Administrator believes
that the Plan is designed and is currently being operated in compliance with the applicable
requirements of the Internal Revenue Code, and the Plans tax counsel has not reported anything to
the contrary. The Plan filed for a new determination letter in May 2007.
In 2006, the IRS, in relation with their audit of the Plan for the years ended December 31,
2001, 2002, and 2003, identified certain compliance and administrative issues with respect to the
Plan. The Company has subsequently complied and corrected such issues. In June 2006, the IRS
accepted the Companys corrections as indicated in the Closing Agreement on Final Determination
Covering Specific Matters, which resolved such issues.
12
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 9
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of the net assets available for plan benefits per the financial
statements to the Form 5500 as of December 31:
|
|
|
|
|
|
|
2006 |
|
Net assets available for plan benefits, per the financial
statements |
|
$ |
169,046,819 |
|
|
|
|
|
Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
|
|
(174,258 |
) |
|
|
|
|
|
|
|
|
Net assets available for plan benefits per the Form 5500 |
|
$ |
168,872,561 |
|
|
|
|
|
The following is a reconciliation of investment income per the financial statements to the Form
5500:
|
|
|
|
|
|
|
Year ended |
|
|
|
December 31, |
|
|
|
2006 |
|
Total investment income per the financial statements |
|
$ |
19,389,286 |
|
|
|
|
|
Less: Adjustment from fair value to contract value
for fully benefit-responsive investment contracts |
|
|
(174,258 |
) |
|
|
|
|
|
|
|
|
Total investment income per the Form 5500 |
|
$ |
19,215,028 |
|
|
|
|
|
13
INGRAM MICRO 401(k)
INVESTMENT SAVINGS PLAN
Schedule I: Form 5500 Schedule H Part IV Line 4i Schedule of Assets (Held at End of Year) as of December 31, 2006
EIN: 62-1644402
Plan Number: 002
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
|
(b) |
|
(c) |
|
(d) |
|
|
(e) |
|
|
|
|
|
Description of Investment Including |
|
|
|
|
|
|
|
|
|
|
Maturity Date, |
|
|
|
|
|
|
|
|
Identity of Issuer, Borrower, |
|
Rate of interest, Collateral, Par or Maturity |
|
|
|
|
|
|
|
|
Lessor, or Similar Party |
|
Value |
|
Cost** |
|
|
Fair Value |
|
|
|
Registered Investment Companies |
|
|
|
|
|
|
|
|
|
|
|
|
American Funds Group |
|
Growth Fund of America, 917,323 units |
|
|
|
|
|
$ |
29,959,763 |
|
|
|
Artisan Funds, Inc. |
|
Small Cap Value Fund, 482,631 units |
|
|
|
|
|
|
8,725,976 |
|
|
|
Artisan Funds, Inc. |
|
Mid Cap Fund, 223,699 units |
|
|
|
|
|
|
6,813,876 |
|
|
|
Dodge and Cox |
|
Balanced Fund, 41,216 units |
|
|
|
|
|
|
3,589,078 |
|
* |
|
Fidelity Management Trust Company |
|
Diversified International Fund, 521,160 units |
|
|
|
|
|
|
19,256,860 |
|
* |
|
Fidelity Management Trust Company |
|
Equity Income Fund, 516,638 units |
|
|
|
|
|
|
30,249,173 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2005 Fund, 4,995 units |
|
|
|
|
|
|
57,997 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2010 Fund, 21,742 units |
|
|
|
|
|
|
317,867 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2015 Fund, 27,766 units |
|
|
|
|
|
|
338,744 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2020 Fund, 344,873 units |
|
|
|
|
|
|
5,355,885 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2025 Fund, 60,871 units |
|
|
|
|
|
|
777,333 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2030 Fund, 281,864 units |
|
|
|
|
|
|
4,518,282 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2035 Fund, 69,146 units |
|
|
|
|
|
|
912,044 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom 2040 Fund, 48,468 units |
|
|
|
|
|
|
459,480 |
|
* |
|
Fidelity Management Trust Company |
|
Freedom Income Fund, 70,358 units |
|
|
|
|
|
|
811,936 |
|
* |
|
Fidelity Management Trust Company |
|
Spartan U.S. Equity Index Fund, 366,480 units |
|
|
|
|
|
|
18,389,949 |
|
|
|
PIMCO Funds |
|
PIMCO Total Return Fund, 533,774 units |
|
|
|
|
|
|
5,540,578 |
|
|
|
The Vanguard Group |
|
Vanguard Small Cap Growth Index, 204,602 units |
|
|
|
|
|
|
3,752,401 |
|
|
|
|
Total Registered Investment Companies |
|
|
|
|
|
|
|
|
139,827,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common and Collective Trusts |
|
|
|
|
|
|
|
|
|
|
* |
|
Fidelity Management Trust Company |
|
Managed Income Portfolio Fund, 17,512,130 units |
|
|
|
|
|
|
17,337,872 |
|
|
|
Common Stock |
|
|
|
|
|
|
|
|
|
|
* |
|
Ingram Micro Inc. |
|
Ingram Micro Inc. Stock, 365,560 shares |
|
|
|
|
|
|
7,462,129 |
|
* |
|
Participant Loans |
|
Loans with maturities through 2020 and interest rates ranging from 5.00% to 10.50% |
|
|
|
|
|
|
4,269,513 |
|
|
|
|
TOTAL INVESTMENTS |
|
|
|
|
|
|
|
$ |
168,896,736 |
|
|
|
|
|
* |
|
These investments represent parties-in-interest to the Plan.
|
|
** |
|
Cost information is not required under ERISA as the investment options are participant
directed. |
14
Consent of Independent Registered Public Accounting Firm
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8
(333-43447) constituting a part of this Registration Statement of our
report dated June 19, 2007
relating to the financial statements and supplemental schedule of the Ingram Micro 401(k)
Investment Savings Plan appearing on this Form 11-K as of December 31, 2006 and 2005 and for the
year ended December 31, 2006.
BDO Seidman, LLP
Costa Mesa, California
June 19, 2007
15