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Overview

Plan Information

  • Plan Year02/01/2018 — 01/31/2019
  • Date of Plan02/01/1997
  • Net Assets as of 01/31/2019 $28,690,206,581
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 01/31/2019

  • Active (Eligible) Participants1,486,391
  • Retired or separated participants receiving benefits2,864
  • Other retired or separated participants entitled to future benefits174,500
  • Subtotal1,663,755
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1,146
  • Total1,664,901
  • Total number of participants as of 02/01/20181,655,031
  • Number of participants with account balances991,302
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested948

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address508 SW 8th Street
  • CityBentonville
  • StateAR
  • Zip72716-0295
  • Telephone(800) 421-1362
  • EIN71-0415188
  • Industry Code452300
  • Named AdministratorHogantaylor LLP Preparer

Audit Information

  • Audit StatusAudited
  • AuditorErnst & Young, LLP
  • Auditor EIN34-6565596
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $100,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $1,588,849,869
Contributions $2,747,016,160
Cash Contributions $2,747,016,160
Cash from Employers $1,155,483,232
Cash from Participants $1,534,496,748
Others (including rollovers) $57,036,180
Noncash Contributions $0
Total Earnings on Investments $-1,155,671,779
Total Interest $52,446,230
Interest-Bearing Cash $5,183
U.S. Government Securities $275,919
Corporate Debt Instruments $111,358
Loans (other than to participants) $0
Participant Loans $52,053,770
Interest from Other Investments $0
Total Dividends $80,428,225
Preferred Stock $0
Common Stock $78,597,350
Rents $0
Net gain (loss) on sale of assets $-81,122,834
Aggregate Proceeds $13,220,281,547
Aggregate Carrying Amount $13,301,404,381
Total Unrealized Appreciation (depreciation) of assets $-1,092,170,247
Real Estate $0
Other $-1,092,170,247
Net investment gain (loss) from common/collective trusts $-323,273,737
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $208,020,584
Other Income $-2,494,512
Expenses $3,033,229,246
Total Benefit Payments $2,989,431,157
Directly to participants or beneficiaries, including direct rollovers $2,989,431,157
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $43,798,089
Professional Fees $547,399
Contract Administrator Fees $22,853,539
Investment Advisory and management fees $20,397,151
Other Administrative Fees $0
Net Income $-1,444,379,377
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

01/31/2019 01/31/2018 Change YOY
Total Assets $28,745,244,807 $30,155,289,130 -4.68%
Total noninterest-bearing cash $0 $170,000 0.0%
Receivables $7,402,544 $5,291,446 39.90%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $7,402,544 $5,291,446 39.90%
General Investments $610,953,816 $421,401,634 44.98%
Interest-bearing cash $11,264,318 $11,273,390 -0.08%
U.S. Government Securities $599,689,498 $410,128,244 46.22%
Corporate Debt Instruments $242,029,929 $198,723,836 21.79%
Preferred $0 $0 0.0%
All Other $242,029,929 $198,723,836 21.79%
Corporate Stocks $667,083,141 $2,087,799,317 -68.05%
Preferred $0 $0 0.0%
Common $667,083,141 $2,087,799,317 -68.05%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $1,093,226,607 $1,072,859,045 1.90%
Value of interest in common/collective trusts $22,241,668,469 $20,269,367,509 9.73%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $447,718,232 0.0%
Value of interest in registered investment companies $440,077,619 $1,467,008,488 -70.00%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $120,179,747 $129,106,910 -6.91%
Employer-related Investments $3,322,622,935 $4,055,842,713 -18.08%
Employer Securities $3,322,622,935 $4,055,842,713 -18.08%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $55,038,226 $34,169,033 61.08%
Benefit Claims Payable (1) $19,510,903 $21,247,561 -8.17%
Operating Payables (1) $35,527,323 $12,921,472 174.95%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $28,690,206,581 $30,121,120,097 -4.75%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Sei Trust Company
  • Global Trust Company
  • Principal Global Investors Trust Co
  • Prudential Trust Co
  • Goldman Sachs Trust Company, N.A.
  • The Northern Trust Company
  • Reliance Trust Company
  • Invesco Trust Company
  • Jpmorgan Chase Bank, N.A.
  • Wellington Trust Company, N.A.
  • Pimco
  • Comerica Bank & Trust, N.A.
  • Boston Partners Trust Company
  • Mondrian Investment Partners Limite
  • Blackrock Fund Advisors

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Merrill Lynch Pierce Fenner Smith I Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Float revenue, Other investment fees and expenses, Contract Administrator, Participant loan processing, Participant communication, Account maintenance fees $22,853,538 $0 $22,853,538
Blackrock Institutional Trust Co Na Investment management, Investment advisory (plan) $3,030,774 $0 $3,030,774
Wellington Trust Company, N.A. Investment management $2,690,444 $0 $2,690,444
Invesco Capital Management Investment management $2,469,608 $0 $2,469,608
Jacobs Levy Equity Management Inc. Investment management $1,584,038 $0 $1,584,038
Westwood Management Corp. Investment management $1,467,683 $0 $1,467,683
Elk Creek Partners, LLC Investment management $1,314,826 $0 $1,314,826
Copeland Capital Management, LLC Investment management $1,214,983 $0 $1,214,983
Loomis Sayles Investment management $1,186,171 $0 $1,186,171
Snow Capital Management, Lp Investment management $1,081,560 $0 $1,081,560
Eam Investors, LLC Investment management $943,196 $0 $943,196
Waddell & Reed Investment Managemen Investment management $924,716 $0 $924,716
Jp Morgan Investment Management Inc Investment management $855,608 $0 $855,608
Falcon Point Capital, LLC Investment management $841,260 $0 $841,260
Panagora Asset Management Investment management $592,882 $0 $592,882
The Northern Trust Company Trustee (bank, trust company, or similar financial institution), Custodial (other than securities), Custodial (securities), Trustee (directed), Investment management fees paid indirectly by plan $547,399 $0 $547,399
Meketa Investment Group Investment management fees paid directly by plan $198,378 $0 $198,378
Total $43,797,064 $0 $43,797,064

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Russell 1000 Index Non-Lendable Fun Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $6,245,622,242
Msci Acwi Ex Us Imi Index Non-Lenda Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $1,761,684,992
The Collective Lsv International The Northern Trust Company DFE: Common/Collective Trust $1,032,113,631
The Goldman Sachs Collective Trust The Goldman Sachs Trust Company, N.A. DFE: Common/Collective Trust $899,197,925
Prudential Core Plus Bond Fund Prudential Trust Company DFE: Common/Collective Trust $897,495,412
Fiera Asset Management USA Collecti Sei Trust Company DFE: Common/Collective Trust $758,748,720
Gqc Partners International Equity C The Northern Trust Company DFE: Common/Collective Trust $733,526,331
Russell 2500 Index Non-Lendable Fun Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $719,466,575
Us Debt Index Non-Lendable Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $689,622,513
Global Property Securities Fund Principal Global Investors Trust Co DFE: Common/Collective Trust $641,903,902
Invesco Equity Global Real Estate Invesco Trust Company DFE: Common/Collective Trust $639,067,749
Msci USA Value Weighted Index Rsl F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $619,481,000
Msci USA Quality Index Rsl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $615,431,680
Msci USA Momentum Index Rsl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $610,529,599
Msci USA Minimum Volatility Index F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $603,281,995
Altrinsic International Equity Coll Global Trust Company DFE: Common/Collective Trust $488,328,868
Aew Global Properties Trust Fund Cl Sei Trust Company DFE: Common/Collective Trust $424,666,252
The Presima Global Real Estate Conc The Northern Trust Company DFE: Common/Collective Trust $422,847,633
Government Short-Term Investment Fu Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $413,867,542
Jpmcb Short Duration Bond Fund Jp Morgan Chase Bank, N.A. DFE: Common/Collective Trust $359,652,966
Russell 2000 Index Non-Lendable Fun Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $344,133,047
Wellington Trust Company, Na Cif II Wellington Trust Company, Na DFE: Common/Collective Trust $343,141,807
Driehaus Emerging Markets Growth Ci Reliance Trust Company DFE: Common/Collective Trust $266,287,901
Aqr Emerging Equities Collective In Global Trust Company DFE: Common/Collective Trust $261,641,662
Us Treasury Inflation Protected SE Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $236,628,214
Corecommodity Management Diversifie Sei Trust Company DFE: Common/Collective Trust $196,987,419
Monarch Partners Small-Mid Cap Valu Reliance Trust Company DFE: Common/Collective Trust $182,419,871
Victory Mid Cap Value Collective Fu Global Trust Company DFE: Common/Collective Trust $179,274,712
Nuveen Global Infrastructure Fund Sei Trust Company DFE: Common/Collective Trust $153,956,292
First Ste Inv Gl Listed Inf Fd The Northern Trust Company DFE: Common/Collective Trust $152,896,654
Jackson Square Smid-Cap Growth Cit Sei Trust Company DFE: Common/Collective Trust $134,549,633
Gresham Djf Collective Investment Sei Trust Company DFE: Common/Collective Trust $132,737,399
Cohen & Steers Global Listed Infra Sei Trust Company DFE: Common/Collective Trust $77,067,007
Collective Short Term Investment Fu The Northern Trust Company DFE: Common/Collective Trust $3,409,324
Russell 1000 Defensive Index Non-Le Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $0
Wpg Partners Small Cap Value Fund Boston Partners Trust Company DFE: Common/Collective Trust $0
Mondrian Wal-Mart Focused Internati Mondrian Investment Partners Limited DFE: 103-12 Investment Entity $0
Drz Small Cap Value Collective Fund Comerica Bank & Trust, N.A. DFE: Common/Collective Trust $0
Harding Loevner Emerging Markets Co Global Trust Company DFE: Common/Collective Trust $0
Large Cap Value Equity Fund Boston Partners Trust Company DFE: Common/Collective Trust $0
Total $22,241,668,469

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.