UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
ý Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 2017
or
¨ Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
For the transition period from to
Commission File Number 1-01520
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Aerojet Rocketdyne Retirement Savings Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Aerojet Rocketdyne Holdings, Inc.
222 N. Sepulveda Blvd., Suite 500
El Segundo, California 90245
Aerojet Rocketdyne Retirement Savings Plan
Financial Statements and Supplemental Schedule
As of December 31, 2017, and 2016
and for the Year Ended December 31, 2017
Table of Contents
|
| | |
| Report of Independent Registered Public Accounting Firm | |
| Financial Statements: | |
| | Statements of Net Assets Available for Benefits | |
| | Statement of Changes in Net Assets Available for Benefits | |
| | Notes to Financial Statements | |
| Supplemental Schedule: | |
| | Schedule H, Line 4i – Schedule of Assets (Held At End of Year) | |
| Signature | |
| Exhibit Index | |
Report of Independent Registered Public Accounting Firm
To the Participants and Plan Administrator of the
Aerojet Rocketdyne Retirement Savings Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Aerojet Rocketdyne Retirement Savings Plan (the “Plan”) as of December 31, 2017 and 2016, the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting 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.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Opinion on the Supplemental Information
The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include supplemental 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 information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material respects in relation to the financial statements as a whole.
|
|
| /s/ Moss Adams LLP |
| San Francisco, California |
| May 31, 2018 |
We have served as the Plan’s auditor since 2017
Aerojet Rocketdyne Retirement Savings Plan
Statements of Net Assets Available for Benefits
|
| | | | | | | |
|
December 31, |
| | 2017 | | 2016 |
| Assets | | | |
| Investments, at fair value (Note 3) | $ | 857,455,106 |
| | $ | 699,870,557 |
|
| Receivables: | | | |
| Company contributions (Note 1) | 40,483 |
| | 43,011 |
|
| Participant contributions | 90,156 |
| | 96,974 |
|
| Notes receivable from participants | 14,261,628 |
| | 13,734,069 |
|
| Total receivables | 14,392,267 |
| | 13,874,054 |
|
| Total assets | 871,847,373 |
| | 713,744,611 |
|
| Liabilities | | | |
| Administrative expenses payable | 296,991 |
| | 244,522 |
|
| Net assets available for benefits | $ | 871,550,382 |
| | $ | 713,500,089 |
|
See accompanying notes to the financial statements.
Aerojet Rocketdyne Retirement Savings Plan
Statement of Changes in Net Assets Available for Benefits
|
| | | |
| | Year Ended |
| | December 31, 2017 |
| Additions | |
| Contributions: | |
| Participant | $ | 52,799,640 |
|
| Company (Notes 1 and 7) | 24,653,573 |
|
| Rollovers | 7,525,200 |
|
| Total contributions | 84,978,413 |
|
| Investment income: | |
| Dividends and interest | 24,498,639 |
|
| Net appreciation in fair value of investments | 112,205,897 |
|
| Total investment income | 136,704,536 |
|
| Interest income on notes receivable from participants | 573,941 |
|
| Total additions | 222,256,890 |
|
| Deductions | |
| Benefits paid to participants | 63,655,052 |
|
| Administrative expenses (Notes 1 and 6) | 551,545 |
|
| Total deductions | 64,206,597 |
|
| Net increase during the year | 158,050,293 |
|
| Net assets available for benefits | |
| Beginning of year | 713,500,089 |
|
| End of year | $ | 871,550,382 |
|
See accompanying notes to the financial statements.
Aerojet Rocketdyne Retirement Savings Plan
Notes to Financial Statements
December 31, 2017, and 2016
1. Description of the Plan
The following description of the Aerojet Rocketdyne Retirement Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
Aerojet Rocketdyne Holdings, Inc. (the “Company” or the “Plan Administrator”) established the Plan effective July 1, 1989. The Plan is a defined contribution plan covering all eligible employees of the Company and its subsidiaries. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended.
The Plan consists of distinct provisions for the following two groups: (i) represented employees in Sacramento, California, represented employees in Canoga Park, California, represented employees in West Palm Beach, Florida, and all non-represented employees and (ii) represented employees in Carlstadt, New Jersey.
Effective September 1, 2017, the Plan was amended to permit participants to make Roth Contributions and elect an In-Plan Conversion to separate Roth Accounts established for participants. Roth Contributions are eligible for the Company matching contributions to the same extent pre-tax and after-tax contributions are eligible for the Company matching contributions. Roth Contributions are subject to the same annual limit specified under the Internal Revenue Code (the “Code”) on the amount of pre-tax contributions, and are aggregated with pre-tax contributions for the purpose of applying the annual limit. Participants are permitted to elect to transfer funds previously accumulated under the Plan to their Roth Accounts. Distributions from Roth Accounts are subject to the Plan's normal requirements and limitations applicable to pre-tax distributions from the Plan.
Contributions
Represented Employees in Sacramento, California, Represented Employees in Canoga Park, California, Represented Employees in West Palm Beach, Florida, and all Non-Represented Employees
Participants may elect to contribute to the Plan, on a pre-tax or after-tax basis, or as after-tax Roth Contributions, from 1% up to 50% of their eligible compensation as defined by the Plan. Contributions must be made in 1% increments. Pre-tax contributions and Roth Contributions are subject to annual limits specified under the Code. Roth Contributions are aggregated with pre-tax contributions for the purpose of applying the annual limit. The Company makes matching contributions in cash equal to 100% of the first 3% of the participant’s eligible compensation contributed and 50% of the next 3% of the eligible compensation contributed. The Company, from time to time, may make discretionary contributions to the accounts of a designated class of participants, subject to satisfying applicable Code limitations and nondiscrimination testing. Investments are participant-directed. Participants may elect to direct both employee contributions and the Company’s matching contributions into any of the Plan’s investment alternatives except for Aerojet Rocketdyne Holdings Stock Fund (the “Company Stock Fund”). Participants may also make rollover contributions to the Plan of amounts distributed from other qualified plans.
Represented Employees in Carlstadt, New Jersey
Participants may elect to contribute to the Plan, on a pre-tax or after-tax basis, or as after-tax Roth Contributions, from 1% up to 50% of their eligible compensation as defined by the Plan. Contributions must be made in 1% increments. Pre-tax contributions are subject to annual limits specified under the Code. Roth Contributions are aggregated with pre-tax contributions for the purpose of applying the annual limit. The Company makes matching contributions in cash equal to 100% of the first 3% of participant's eligible compensation contributed and 50% of the next 3% contributed but no less than $100 per month per participant. The Company, from time to time, may make discretionary contributions to the accounts of a designated class of participants, subject to satisfying applicable Code limitations and nondiscrimination testing. Investments are participant-directed. Participants may elect to direct both employee
contributions and the Company’s contributions into any of the Plan’s investment alternatives except for the Company Stock Fund. Participants may also make rollover contributions to the Plan of amounts distributed from other qualified plans.
Participant Accounts
Each participant’s account is credited with the participant’s contribution, the Company’s contributions, and net earnings or losses associated with the participant’s investment election. Each participant’s account is also charged with an allocation of certain administrative expenses. Allocations of expenses are generally based on each participant’s account balance in proportion to all participants’ account balances.
Vesting
A participant’s interest in employee contributions, the Company’s contributions, and rollover contributions, if any, are vested at all times.
Forfeited Accounts
Forfeited balances are used to either reduce the cash payment of the Company’s matching contributions, or to offset administrative expenses. Unallocated forfeited balances as of December 31, 2017, and 2016 were less than $0.1 million.
Notes Receivable from Participants
Eligible participants may borrow from their Plan accounts a minimum loan amount of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance, reduced by the participant’s highest aggregate loan balance in the previous 12 months. Eligible participants may have up to two loans outstanding at any given time. Account balances attributable to the Company’s matching contributions are not available for loans, but are included in computing the maximum loan amount. Loan terms range from 1 year to 5 years or up to 10 years for the purchase of a primary residence. The loans are secured by the balance in the participant’s account and bear interest at a fixed rate of 1% above the prevailing prime rate at time of issuance. Principal and interest are paid ratably through payroll deductions. The outstanding balance of a loan may be paid at any time before the end of the term of the loan. Upon termination of employment with the Company, participants may elect to continue making loan payments through automatic direct debits from his or her personal bank account if a total distribution has not been taken from the Plan account. A default will be deemed to have occurred if any loan payment has not been made within 90 days of when the payment is due to be paid by the participant. Participants who do not elect to repay an outstanding loan through direct debits have 90 days to repay outstanding loan balances. After 90 days, outstanding loan balances are treated as a distribution from the Plan and may have tax consequences to the participant.
In-Service Withdrawals
For the Company’s matching contributions made prior to January 1, 2004, participants who are active employees of the Company can elect a voluntary in-service withdrawal of their plan shares in each investment fund. In-service withdrawals are not allowed for the Company’s matching contributions made after December 31, 2003. In-service withdrawals for participant contributions are allowed in certain circumstances in accordance with the Plan.
Payment of Benefits
Distribution of the vested value of the participant’s account will be made available, in the form of full or partial lump sum payments, upon reaching age 59 ½, termination of employment, financial hardship, or death.
Administrative Expenses
Expenses incurred in connection with the purchase or sale of securities are charged to participants originating such transactions. Prior to October 1, 2015, the cost of recordkeeping services provided by Fidelity Investments (“Fidelity”) was funded through offsets from some of the investment funds in the Plan. A Revenue Credit Account (“RCA”) was established in the Plan to share in excess recordkeeping fees (“Revenue Credits”) paid to Fidelity by the investment funds. Effective October 1, 2015, the Company amended the trust agreement with Fidelity Management Trust Company (“Fidelity Trust”), the Plan’s Trustee. As a result of the amendment, the quarterly recordkeeping fee paid to Fidelity was fixed based on the number of accounts in the Plan. All Revenue Credits received by Fidelity were passed-through to the RCA. The Plan could use proceeds in RCA to directly pay for legal, accounting, and certain administrative costs of the Plan or for reimbursement of such costs that were paid by the Company. Effective October 1, 2016, the Company amended the trust agreement with Fidelity Trust in regard to Revenue Credits. As a result of the amendment, the RCA is no longer used to pay for legal, accounting, and certain administrative costs of the Plan. Instead, all Revenue Credits received by Fidelity from the investment funds are allocated back to participant accounts, quarterly, based on the ratio of each participant’s average daily balance in a fund generating Revenue Credits during the quarter to the total average daily balances for all eligible participants in such fund during the quarter. The allocation will be used to purchase whole and fractional shares of investments in the eligible participant accounts. Effective October 1, 2016, the cost of recordkeeping services is no longer funded through offsets from some of the investment funds in the Plan. Instead, all recordkeeping fees and other expenses chargeable to the Plan are allocated pro rata to participants based on account balance. All other expenses, such as loan set up fees, loan maintenance fees, short term fees, overnight fees relating to participants’ transactions are deducted from those participants’ accounts as transactions occur.
New Accounting Pronouncements
In May 2015, the Financial Accounting Standards Board (“FASB”) issued amended guidance on disclosures for investments in certain entities that calculate net asset value per share (“NAV”) or its equivalent. The new guidance removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using NAV per share or its equivalent. The Company adopted the new guidance for the plan year ended December 31, 2016. As the accounting standard only impacted presentation, the new standard did not have an impact on the Plan’s financial statements.
2. Summary of Significant Accounting Policies
Basis of Accounting
The financial statements of the Plan have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Investment Valuation and Income Recognition
The Plan’s investments are stated at fair value (see Note 3).
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan’s net gains and losses on investments bought and sold as well as held during the year.
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance. The accrued, but unpaid interest was not material and was not reflected in notes receivable from participants as of December 31, 2017, and 2016. No allowance for credit losses has been recorded as of December 31, 2017, or 2016. Delinquent notes receivable from participants are recorded as a distribution based upon the terms of the Plan documents.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires the Plan Administrator, who is a fiduciary of the Plan, to make estimates, assumptions, and valuations that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Benefit Payments
Benefit payments are recorded when paid.
3. Fair Value
The accounting standards establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. There have been no changes in the methodologies used at December 31, 2017, and 2016.
Registered investment companies
The shares of registered investment companies are invested in mutual funds which are valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission (“SEC”). These funds are required to publish their daily NAV and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded and are classified as Level 1 investments.
Common stock
The Company’s common stock held in the Company Stock Fund is stated at fair value as quoted on a recognized securities exchange and valued at the last reported sales price on the last business day of the Plan year and is classified as Level 1 investments.
Short-term securities
Short-term securities are comprised of money market funds which are valued at quoted market prices in an exchange and active markets, and are classified as Level 1 investments.
Participant-directed brokerage accounts
Participant-directed brokerage accounts held registered investment companies, common stocks, cash, U.S. government bonds and corporate bonds. Registered investment companies and common stocks are classified as Level 1 investments. Cash is held in Fidelity money market account and classified as Level 1 investments. U.S. government bonds and corporate bonds are valued using pricing models maximizing the use of observable inputs for similar securities and classified as Level 2 investments.
Common/collective trusts ("CCTs")
CCTs are fair valued at the reported NAV of units of a collective trust and included as a reconciling item to the fair value tables below. There is no restriction in place with respect to the daily redemption of the CCTs held by the Plan and there are no unfunded commitments.
As of December 31, 2017, and 2016, the Plan’s investments measured at fair value were as follows:
|
| | | | | | | | | | | | | | | | |
| | | Quoted Prices in Active Markets for Identical Assets
(Level 1) | | Significant Other Observable Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | Total |
| December 31, 2017 | | | | | | | |
| Registered investment companies | $ | 614,927,276 |
| | $ | — |
| | $ | — |
| | $ | 614,927,276 |
|
| Common stock | 41,304,931 |
| | — |
| | — |
| | 41,304,931 |
|
| Short-term securities | 986,127 |
| | — |
| | — |
| | 986,127 |
|
| Participant-directed brokerage accounts | 48,296,419 |
| | 60,000 |
| | — |
| | 48,356,419 |
|
| Total investments at fair value | | $ | 705,514,753 |
| | $ | 60,000 |
| | $ | — |
| | $ | 705,574,753 |
|
| Investments measured at NAV | | | | | | | |
| CCTs | |
| | | | | | 151,880,353 |
|
| Total investments | | | | | | | $ | 857,455,106 |
|
| | | | | | | | | |
| December 31, 2016 | | | | | | | |
| Registered investment companies | $ | 500,413,178 |
| | $ | — |
| | $ | — |
| | $ | 500,413,178 |
|
| Common stock | 28,751,125 |
| | — |
| | — |
| | 28,751,125 |
|
| Short-term securities | 756,595 |
| | — |
| | — |
| | 756,595 |
|
| Participant-directed brokerage accounts | 38,749,982 |
| | 104,959 |
| | — |
| | 38,854,941 |
|
| Total investments at fair value | | $ | 568,670,880 |
| | $ | 104,959 |
| | $ | — |
| | $ | 568,775,839 |
|
| Investments measured at NAV | | | | | | | |
| CCTs | |
| | | | | | 131,094,718 |
|
| Total investments | | | | | | | $ | 699,870,557 |
|
4. Income Tax Status
The Plan received a determination letter from the Internal Revenue Service (the “IRS”) dated June 27, 2017, stating the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. 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. GAAP requires the Plan's management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by the IRS and/or Department of Labor.
5. Plan Termination
Although it has not expressed any intent to do so, the Company has the right to terminate the Plan subject to the provisions of ERISA.
6. Related Party Transactions
Aerojet Rocketdyne Holdings, Inc. Common Stock
Transactions in shares of the Company’s common stock qualify as party-in-interest transactions under the provisions of ERISA for which a statutory exemption exists. During the year ended December 31, 2017, the Plan made sales of $6.9 million of the Company’s common stock (see Note 7). The Plan did not make any purchases of the Company’s common stock during the Plan Year. Effective April 15, 2009, the Company Stock Fund was closed to new investments. At December 31, 2017, and 2016, the Plan held 1,323,876 and 1,601,734 shares of the Company’s common stock, respectively, through the Company Stock Fund, representing 5% and 4%, respectively, of the total net assets of the Plan.
Funds Managed by Fidelity
Certain Plan investments are shares of funds managed by Fidelity, the holding company of Fidelity Trust. Fidelity Trust is the Trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. Fees paid by the Plan to Fidelity for investment management services were deducted from the NAV of shares of funds held by the Plan. The funds’ operating expense ratios ranged from 0.42% to 0.82% based on the funds’ most recent prospectuses.
Revenue Credit Account with Fidelity Trust
During the year ended December 31, 2017, the Plan incurred administrative expenses of approximately $0.8 million, of which $0.2 million was paid with the funds in the RCA accumulated prior to October 1, 2016, and the remaining $0.6 million was paid by the Plan as reflected on the Statement of Changes in Net Assets Available for Benefits. Effective October 1, 2016, the RCA is no longer available to pay for the administrative expenses incurred by the Plan (see Note 1).
7. Issuance of Unregistered Shares
On May 30, 2017, the Company made a registered rescission offer to buy back unregistered shares from eligible Plan participants at the original purchase price plus interest, or to reimburse eligible Plan participants for losses they may have incurred if their shares had been sold. The registered rescission offer expired on June 30, 2017, and settlement payments of $3.5 million under the rescission offer were completed in the third quarter of 2017, and are included in the Statement of Changes in Net Assets Available for Benefits as the Company contributions.
The Company inadvertently previously failed to register with the SEC certain shares of its common stock issued under the Plan. As a result, certain participants as purchasers of the Company’s common stock pursuant to the Plan may have had the right to rescind their purchases for an amount equal to the purchase price paid for the shares (or if such security has been disposed of, to receive consideration with respect to any loss on such disposition) plus interest from the date of purchase. In June 2008, the Company filed a registration statement on Form S-8 with the SEC to register future transactions in the Company Stock Fund in the Plan.
8. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment balances will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and Statement of Changes in Net Assets Available for Benefits.
Supplemental
Schedule
Aerojet Rocketdyne Retirement Savings Plan
EIN 34-0244000, Plan #334
Schedule H, Line 4i — Schedule of Assets (Held At End of Year)**
December 31, 2017
|
| | | | | | | | |
(a)
Party in
interest | | (b)
Identity of Issue, Borrower, Lessor,
or Similar Party | | (c)
Description of
Investment including
Maturity Date, Rate of
Interest, Collateral,
Par, or Maturity Value | | (e)
Current Value |
| | | Vanguard Institutional Index Fund | | Registered investment company | | $ | 106,001,912 |
|
| | | Vanguard Extended Market Index Fund | | Registered investment company | | 16,212,410 |
|
| | | Vanguard Total International Stock Index Fund | | Registered investment company | | 9,408,234 |
|
| | | Vanguard Total Bond Market Index Fund | | Registered investment company | | 13,673,102 |
|
| | | Brown Advisory Small-Cap Growth Fund Institutional Shares | | Registered investment company | | 18,544,509 |
|
| | | Victory Sycamore Small Company Opportunity Fund Class I | | Registered investment company | | 14,247,243 |
|
| | | American Beacon Lg Cap Value Inst CL | | Registered investment company | | 28,438,468 |
|
| | | PIMCO Total Return Institutional Class | | Registered investment company | | 30,763,255 |
|
| * | | Fidelity Diversified International | | Registered investment company | | 29,512,959 |
|
| * | | Fidelity Low Priced Stock | | Registered investment company | | 42,202,244 |
|
| * | | Fidelity Mid-Cap Stock Fund | | Registered investment company | | 35,307,904 |
|
| | | American Funds 2010 Target Date Retirement Fund Class R-6 | | Registered investment company | | 18,281,012 |
|
| | | American Funds 2020 Target Date Retirement Fund Class R-6 | | Registered investment company | | 92,950,305 |
|
| | | American Funds 2030 Target Date Retirement Fund Class R-6 | | Registered investment company | | 75,119,731 |
|
| | | American Funds 2040 Target Date Retirement Fund Class R-6 | | Registered investment company | | 34,920,629 |
|
| | | American Funds 2050 Target Date Retirement Fund Class R-6 | | Registered investment company | | 18,744,776 |
|
| | | American Funds 2015 Target Date Retirement Fund Class R-6 | | Registered investment company | | 3,459,276 |
|
| | | American Funds 2025 Target Date Retirement Fund Class R-6 | | Registered investment company | | 15,747,254 |
|
| | | American Funds 2035 Target Date Retirement Fund Class R-6 | | Registered investment company | | 5,693,041 |
|
| | | American Funds 2045 Target Date Retirement Fund Class R-6 | | Registered investment company | | 3,027,553 |
|
| | | American Funds 2055 Target Date Retirement Fund Class R-6 | | Registered investment company | | 1,869,025 |
|
| | | American Funds 2060 Target Date Retirement Fund Class R-6 | | Registered investment company | | 802,434 |
|
| * | | Fidelity Managed Income Portfolio II - Class 1 | | Common/collective trust stable value fund | | 72,621,086 |
|
| * | | Fidelity Growth Company Commingled Pool | | Common/collective trust fund | | 79,259,267 |
|
| * | | Fidelity Treasury Money Market Fund | | Money market fund | | 208,239 |
|
| * | | Fidelity Institutional Cash Portfolio | | Money market fund | | 777,888 |
|
|
| | | | | | | | |
(a)
Party in
interest | | (b)
Identity of Issue, Borrower, Lessor,
or Similar Party | | (c)
Description of
Investment including
Maturity Date, Rate of
Interest, Collateral,
Par, or Maturity Value | | (e)
Current Value |
| | | Participant-directed Brokerage Accounts | | | | |
| * | | Brokerage Link | | Various investments | | 48,356,419 |
|
| * | | Notes receivable from participants | | Annual interest rates from 4.25% to 5.25% maturing through 2027 | | 14,261,628 |
|
| * | | Aerojet Rocketdyne Holdings, Inc. Common Stock | | Common Stock; 1,323,876 shares | | 41,304,931 |
|
| | | Total investments | | | | $ | 871,716,734 |
|
____________
| |
| * | Indicates a party-in-interest to the Plan. |
| |
| ** | Column (d), cost, has been omitted, as all investments are participant-directed. |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, Aerojet Rocketdyne Holdings, Inc., as Plan Administrator, has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.
|
| | |
| | AEROJET ROCKETDYNE RETIREMENT SAVINGS PLAN |
| | | |
| Date: May 31, 2018 | By | /s/ Paul R. Lundstrom |
| | | Paul R. Lundstrom |
| | | Vice President and Chief Financial Officer |
| | | |
EXHIBIT INDEX
