Document


 
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
    þ
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  
For the fiscal year ended December 31, 2015
OR
     ¨
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 1-3863
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Harris Corporation Retirement Plan
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Harris Corporation
1025 West NASA Blvd.
Melbourne, Florida 32919

 
 




 
HARRIS CORPORATION
RETIREMENT PLAN
Audited Financial Statements and Supplemental Schedule
As of December 31, 2015 and 2014
and for the Year Ended December 31, 2015




 
HARRIS CORPORATION RETIREMENT PLAN
December 31, 2015 and 2014 and for the year ended December 31, 2015
Table of Contents
 
 
 
Report of Independent Registered Certified Public Accounting Firm    
1
 
 
Audited Financial Statements:
 
 
 
Statements of Net Assets Available for Benefits
2
 
 
Statement of Changes in Net Assets Available for Benefits
3
 
 
Notes to the Financial Statements
4
 
 
Supplemental Information:
 
 
 
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year)
12
 
 
Signature    
34
 
 
Exhibit:
 
 
 
23.1 Consent of Independent Registered Certified Public Accounting Firm
 
All other schedules required by section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
 





REPORT OF INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM
To the Participants and the Harris Corporation Employee Benefits Committee of the
Harris Corporation Retirement Plan
We have audited the accompanying statements of net assets available for benefits of the Harris Corporation Retirement Plan (the “Plan”) as of December 31, 2015 and 2014, and the related statement of changes in net assets available for benefits for the year ended December 31, 2015. The Plan’s management is responsible for these financial statements. 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 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 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 benefits of the Harris Corporation Retirement Plan at December 31, 2015 and 2014, and the changes in its net assets available for benefits for the year ended December 31, 2015, in conformity with accounting principles generally accepted in the United States of America.

As discussed in Note 10 to the financial statements, on December 31, 2015, the Exelis Retirement Savings Plan merged into the Plan. Our opinion is not modified with respect to that matter.
The schedule of assets (held at end of year) (the “Supplemental Schedule”) has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The Supplemental Schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the Supplemental Schedule 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 Schedule. In forming our opinion on the Supplemental Schedule, we evaluated whether the Supplemental Schedule 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 Schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Carr, Riggs & Ingram, LLC
Melbourne, Florida
June 27, 2016
 

1



HARRIS CORPORATION RETIREMENT PLAN
Statements of Net Assets Available for Benefits
 
 
 
 
 
 
December 31,
2015
 
 
 
December 31,
2014
 
 
ASSETS
 
 
 
Investments at fair value:
 
 
 
Interest bearing cash
$
510,301,790

 
$
3,707,972

Preferred stocks
1,471,455

 
899,133

Brokerage window account
12,320,538

 
     -

Corporate bonds & debentures
101,745

 
   -

Common stocks
836,044,592

 
798,017,324

Registered investment companies
1,578,871,132

 
289,910,701

Common/collective trust funds
2,407,292,110

 
1,802,606,725

 
 
 
 
Total investments at fair value
5,346,403,362

 
2,895,141,855

 
 
 
 
Investments at contract value:
 
 
 
Synthetic guaranteed investment contracts
638,913,025

 
618,451,514

 
 
 
 
Receivables:
 
 
 
Accrued interest and dividends
867,588

 
724,229

Participant contributions receivable
4,246,435

 
   -

Employer matching contributions
1,782,429

 
   -

Notes receivable from participants
65,778,392

 
45,076,733

Due from broker for securities sold
1,216,846

 
726,355

 
 
 
 
Total receivables
73,891,690

 
46,527,317

 
 
 
 
Total assets   
6,059,208,077

 
3,560,120,686

LIABILITIES
 
 
 
Accrued administrative expenses
529,802

 
604,138

Due to broker for securities purchased
747,918

 
448,015

 
 
 
 
Total liabilities   
1,277,720

 
1,052,153

 
 
 
 
Net assets available for benefits   
$
6,057,930,357

 
$
3,559,068,533

 
 
 
 
The accompanying notes are an integral part of these financial statements.
 

2



HARRIS CORPORATION RETIREMENT PLAN
Statement of Changes in Net Assets Available for Benefits
For the year ended December 31, 2015
 
 
 
Additions to net assets attributed to:
 
Investment income:
 
Net appreciation in fair value of investments
$
2,468,981

Net appreciation in contract value of investments
11,823,686

Dividends
12,956,210

 
 
Total
27,248,877

Contributions:
 
Participant rollovers
6,364,403

Employer matching
50,913,441

Participant (other than rollovers)
102,050,306

 
 
Total contributions
159,328,150

Interest on notes receivable from participants
1,778,427

 
 
Total additions   
188,355,454

 
 
Deductions from net assets attributed to:
 
Benefits paid to participants
288,938,819

Administrative expenses
6,254,209

 
 
Total deductions
295,193,028

 
 
Net decrease before transfers into the Plan   
(106,837,574)

Transfers into the Plan from another plan   
2,605,699,398

Net change in plan assets available for benefits   
2,498,861,824

Net assets available for benefits:
 
Beginning of year
3,559,068,533

 
 
End of year
$
6,057,930,357

 
 
The accompanying notes are an integral part of these financial statements.
 

3



HARRIS CORPORATION RETIREMENT PLAN
Notes to the Financial Statements
December 31, 2015 and 2014
NOTE 1 — DESCRIPTION OF PLAN
The following description of the Harris Corporation Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
A.
General — The Plan is a defined contribution plan with a 401(k) feature covering eligible employees of Harris Corporation and certain of its subsidiaries (collectively, the “Company” or “Employer”) as defined in the Plan document. The Plan Administrator is the Harris Corporation Employee Benefits Committee comprised of persons appointed by Harris Corporation. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
Effective May 29, 2015, the Plan’s sponsor completed its acquisition of Exelis Inc. which maintained a defined contribution plan with a 401(k) feature, the Exelis Retirement Savings Plan. Effective December 31, 2015 at 11:59 p.m., the Exelis Retirement Savings Plan was merged into the Plan, and the participants, assets and liabilities of the Exelis Retirement Savings Plan became participants, assets and liabilities of the Plan.
B.
Contributions — Participants may contribute a percentage of eligible compensation, as defined in the Plan document and subject to Internal Revenue Code (the “Code”) limitations, on a pre-tax and/or an after-tax basis. After-tax contributions may be made either on a regular after-tax basis or on a designated Roth after-tax basis. Participants age 50 and older by the end of the calendar year can contribute an additional amount above the annual pre-tax/designated Roth after-tax limitation, as defined in the Plan document and subject to Code limitations. The Company matches up to 50% or 100% (depending on business unit) of pre-tax and after-tax contributions subject to a limit of 4%, 5% or 6% (depending on business unit) of eligible compensation for any eligible employee who has completed one year of service with the Company and is not accruing a benefit under the Company’s defined benefit pension plan. Special matching rules apply to participants who are subject to a collective bargaining agreement. Full-time regular participants who are not subject to a collective bargaining agreement and who make no election with respect to their contribution percentage are deemed to have elected deferment of 6% of eligible compensation on a pre-tax basis. The Company may make discretionary profit sharing contributions to the Plan in an amount determined by the Company, allocated to eligible participants based on eligible compensation as defined in the Plan document. For the year ended December 31, 2015, no profit sharing contributions were made. Additional Company contributions may be made on behalf of participants who are subject to a collective bargaining agreement or to satisfy, in part, the Company’s obligations to certain participants under wage determination or similar laws. In addition, participants may rollover amounts to the Plan from other qualified plans or certain individual retirement accounts (“IRAs”).
C.
Payments of Benefits — Prior to termination of employment, a participant may withdraw all or any portion of his or her regular after-tax account balance or rollover balance. A participant may also receive a distribution while employed for financial hardship, as defined in the Plan document, upon attainment of age 59 1/2 or in certain cases, in connection with active military duty. Upon retirement or other termination of employment, a participant may elect to receive either a lump-sum amount equal to all or a portion of the participant’s vested account, or installments of his or her vested account over a future period. Alternatively, a participant may rollover his or her vested account to an eligible retirement plan or IRA. In addition, certain other distribution options applicable to assets merged into the Plan have been preserved, as legally required.
D.
Participant Loans — The participant loan program permits participants to borrow against their pre-tax, regular after-tax, qualified non-elective, designated Roth after-tax and rollover contributions. A participant may borrow in increments of $100 from a minimum of $500 to a maximum of 50% of the vested portion of the participant’s account or $50,000 whichever is lower, within certain limitations established by the Plan document. Payback periods range from one to five years unless the loan is to be used for the purchase of a principal residence, in which case the payback period generally may not exceed ten years. Interest rates are established by the Company based on market rates. Loans are paid back ratably through payroll deductions (or, if the participant is not receiving paychecks, then they are paid back by personal, certified or cashier’s check, money order or electronic transfer). The outstanding loans have been established as a separate fund.
E.
Participant Accounts — Each participant’s account is credited with the participant’s contribution, including the contribution, if any, in respect of the participant’s election under the Company’s Performance Reward Plan (or similar plan), and allocations of (a) the Company’s contributions and (b)  Plan earnings, and is charged with an allocation of Plan losses and administrative expenses. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

4



F.
Vesting — Participants are immediately vested in their pre-tax, regular after-tax, designated Roth after-tax, qualified non-elective and rollover contributions plus earnings thereon. Participants also are immediately vested in Company contributions other than Employer matching and any profit sharing contributions, plus earnings thereon. Vesting in the Employer matching and any profit sharing contributions, plus earnings thereon, is based on years of service, as defined in the Plan document. A participant is 100% vested after four years of service, based on the following schedule.
Years of Service
 
Vesting
Percentage
 
Less than 1 year
0
%
1 year
25
%
2 years
50
%
3 years
75
%
4 years
100
%
However, certain vesting schedules applicable to assets merged into the Plan have been preserved, as legally required, and may result in the vesting of Employer matching and any profit sharing contributions plus earnings thereon, more quickly than described above. In addition, in the event of a disposition by the Company of a business or substantially all of the assets of a business, the participants impacted by such disposition may in certain circumstances become 100% vested in Employer matching and any profit sharing contributions plus earnings thereon.
 
A participant also becomes 100% vested in Employer matching and any profit sharing contributions plus earnings thereon, upon his or her termination of employment after attaining age 55 or on account of his or her death or disability, or if a participant dies while on leave of absence due to qualified military service.

In addition, special vesting applies to certain participants in the Plan who are subject to a collective bargaining agreement. Certain of such participants are immediately vested in their Employer matching and any profit sharing contributions, and others become vested in their Employer matching and any profit sharing contributions as follows:
Years of Service
 
Vesting
Percentage
 
 
Less than 1 year
0
%
1 year
20
%
2 years
40
%
3 years
60
%
4 years
80
%
5 years
100
%
G.
Forfeitures — A terminated participant who is not 100% vested will forfeit the non-vested portion of the Company’s contributions plus earnings thereon unless the participant returns to employment within five years. The forfeited contributions are used first, to restore the accounts of recently located missing participants, as defined in the Plan document; next, to restore the accounts of participants who are reemployed prior to incurring a break in service of five consecutive years; next, to fund any Company contributions to be allocated to participants who are reemployed after a period of qualified military service, as defined in the Plan document; and finally, to reduce future contributions to the Plan by the Company. Forfeited amounts included in Plan assets at December 31, 2015 and 2014 were $122,958 and $580,638, respectively. For the year ended December 31, 2015, Company contributions to the Plan were reduced by $1,488,220 from forfeited non-vested accounts.
H.
Plan Termination — 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 of Plan termination, participants will become 100% vested in their accounts.
I.
Investment Options — Upon enrollment into the Plan, a participant may direct Company and participant contributions into any of several investment options (including the Harris Stock Fund) and/or a brokerage window account. A participant may transfer amounts from other investment options into the Harris Stock Fund, provided that no transfer shall cause more than 20% of a participant’s account to be invested in the Harris Stock Fund. The Harris Stock Fund has been designated as an “employee stock ownership plan,” which means that the Company is entitled to a deduction for dividends paid on shares held in the Harris Stock Fund. Any such dividends are 100% vested and participants are permitted to elect that such dividends either be maintained in the Plan and reinvested in the Harris Stock Fund or paid from the Plan in cash to the participant.

5




The investment options are described in detail in the Plan’s “Summary Plan Description,” which is available to all participants. In the event no investment option is selected by a participant, the default investment option for contributions is the LifeCycle Fund that is age-appropriate for the participant. Elections to change investment options can be made daily; however, amounts in the Stable Value Fund cannot be transferred directly to the Money Market Fund. Investments are also governed by other limitations described in the Plan document and the “Summary Plan Description.”
NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting — The accounting records of the Plan are maintained on the accrual basis and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Valuation of Investments — Investments are stated at fair value or contract value. For investments stated at fair value, quoted market prices are used, when available, to value investments. Investments for which quoted market prices are not available are stated at fair values as reported by the Trustee or investee company. See Note 6 — Financial Instruments for further information on the valuation of investments.
Notes Receivable from Participants — Notes receivable from participants represent participant loans recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2015 or 2014. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded upon the participant’s eligibility for a plan distribution.
Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires the Plan Administrator to make estimates and assumptions that affect certain reported amounts, disclosures, and schedules. Accordingly, actual results may differ from those estimates.
Administrative Expenses — Unless otherwise elected by the Company, all reasonable charges and expenses incurred in connection with the administration of the Plan are paid by the Trustee from the assets of the trust.

New Accounting Standards — In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-01, Financial Instruments-Overall (Subtopic 825-10). ASU No. 2016-01 requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. ASU No. 2016-01 also requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. ASU No. 2016-01 is effective for employee benefit plans for fiscal years beginning after December 15, 2018. Management is currently evaluating the impact of ASU No. 2016-01 on the Plan’s financial statements.

In July 2015, the FASB issued ASU No. 2015-12, Plan Accounting (Topics 960, 962, and 965) — (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient. This three-part standard simplifies employee benefit plan reporting with respect to fully benefit-responsive investment contracts and plan investment disclosures, and provides for a measurement-date practical expedient. Parts I and II are effective for fiscal years beginning after December 15, 2015 and should be applied retrospectively, with early adoption permitted. Part III is effective for fiscal years beginning after December 15, 2015 and should be applied prospectively, with early adoption permitted. Management has elected early adoption of each of the three Parts of ASU No. 2015-12. As a result, components of the fully benefit-responsive investments were reclassified in the Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014. There was no net impact on the Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014 or the Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2015.

In May 2015, the FASB issued ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). ASU 2015-07 removes the requirement to include investments in the fair value hierarchy for which fair value is measured using the net asset value per share practical expedient under U.S. GAAP. ASU 2015-07 is effective for the Plan retrospectively for the year ending December 31, 2016 with early adoption permitted. Management has elected early adoption of ASU 2015-07 and has applied the provision retrospectively. As a result, common/collective trust funds measured using net asset value per share are no longer presented in the fair value hierarchy table included in Note 6.

6




NOTE 3 — RELATED-PARTY TRANSACTIONS
Certain Plan investments are shares of common stock of Harris Corporation and balances in common/collective trust funds that are managed by Northern Trust or Wells Fargo. Harris Corporation is the Plan sponsor and Northern Trust is the Trustee of the Plan and Wells Fargo was the trustee of the Exelis Retirement Savings Plan (which, as described in Note 1, was merged into the Plan effective December 31, 2015) and, therefore, these transactions qualify as exempt party-in-interest transactions under the provisions of ERISA.
The Plan’s investments in Harris Corporation common stock (included with other common stock) and in common/collective trust funds managed by Northern Trust or Wells Fargo (included with other common/collective trust funds) are as follows:
 
 
 
 
 
 
 
December 31, 2015 
 
December 31, 2014 
 
 
Shares 
 
Fair Value 
 
Shares 
 
Fair Value 
 
Common stock
 
 
 
 
Harris Corporation common stock
2387863
$
207,505,295

1848882
$
132,786,705

Common/collective trust funds
 
 
 
 
NT Collective Russell 1000 Index Fund — Non Lending
7797664
170,324,384

8352733
180,769,858

NT Collective Extended Equity Index Fund — Non Lending
670313
155,285,280

676389
162,265,728

NT Collective S&P 500 Index Fund-DC-Non Lending (Tier J)
50457
338,740,880

51613
341,779,632

NT Collective Aggregate Bond Index Fund — Non Lending
2198541
290,932,866

2292551
301,653,846

NTGI Coltv Govt STIF Registered
3886449
3,886,449

3933171
3,933,171

Wells Fargo / Blackrock STIF N
153135119
153,135,119

   ^
   ^

Wells Fargo / Blackrock STIF S
48582487
48,591,053

   ^
   ^

During 2015, the Plan made the following purchases and sales of related party investments:
 
 
 
 
 
 
Purchases 
 
 
Sales 
 
Common stock
 
 
 
Harris Corporation common stock
$
12,532,004

 
$
16,174,842

Common/collective trust funds
 
 
 
NT Collective Russell 1000 Index Fund — Non Lending
47,627,028

 
16,174,842

NT Collective Extended Equity Index Fund — Non Lending
29,070,795

 
30,231,280

NT Collective S&P 500 Index Fund-DC-Non Lending (Tier J)
41,102,056

 
49,000,401

NT Collective Aggregate Bond Index Fund — Non Lending
30,146,824

 
42,502,008

NTGI Coltv Govt STIF Registered
   *

 
   *

Wells Fargo / Blackrock STIF N
   *

 
   *

Wells Fargo / Blackrock STIF S
   *

 
   *

 

^ Wells Fargo became a related party to the Plan on December 31, 2015 when the Exelis Retirement Savings Plan was merged into the Plan.
*
Activity in this fund represents overnight interest bearing deposits (sweeps) of otherwise un-invested daily cash.
 
NOTE 4 — INCOME TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated October 30, 2013 stating that the Plan is qualified under Section 401(a) of the Code and the related trust is exempt from taxation. Although the Plan has been amended since receiving the determination letter, the Plan’s sponsor and the Plan’s tax counsel believe the Plan, as amended, is qualified and the related trust is exempt from taxation. On October 12, 2015, a request was filed with the IRS for a favorable determination that the Plan continues to be qualified under Section 401(a) of the Code and that the related trust continues to be exempt from taxation. As of June 27, 2016, the Plan had not received a response from the IRS with respect to this request.

7



U.S. GAAP requires Plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2015, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress with respect to the Plan. The Plan Administrator believes the Plan is no longer subject to income tax examinations for years prior to 2012.
NOTE 5 — CREDIT RISKS AND UNCERTAINTIES
Cash amounts at the Trustee may exceed the federally insured limit from time to time. The Plan provides for investments in various investment securities, which, in general, are exposed to certain risks, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term, and such changes could materially affect participant account balances and the amounts reported in the Statements of Net Assets Available for Benefits.
NOTE 6 — FINANCIAL INSTRUMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal market (or most advantageous market, in the absence of a principal market) for the asset or liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). A three-level fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:
Level 1 — inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.
Level 2 — inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3 — inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques for which some or all significant assumptions are not observable.
The following section describes the valuation methodologies the Plan uses to measure financial assets at fair value.
In general, and where applicable, the Plan uses quoted prices in active markets for identical assets to determine fair value. This pricing methodology applies to the Plan’s Level 1 assets which include interest bearing cash, common stocks, corporate bonds and debentures, the brokerage window account and registered investment companies. If quoted prices in active markets for identical assets are not available to determine fair value, then the Plan uses quoted prices for similar assets or inputs other than the quoted prices that are observable either directly or indirectly. These assets are included in Level 2 and consist of preferred stocks. Assets for which fair value is determined by management using assumptions that market participants would use in pricing assets are included in Level 3. As of December 31, 2015 and 2014, there were no Level 3 assets held by the Plan.










8



Assets Measured at Fair Value on a Recurring Basis
Assets measured at fair value on a recurring basis at December 31, 2015 are as follows:
 
 
 
 
 
 
 
Level 1 
 
Level 2 
 
Level 3 
 
Total 
 
Assets
 
 
 
 
Interest bearing cash
$
510,301,790

$

$  —  
$
510,301,790

Preferred stocks

1,471,455


1,471,455

Common stocks
836,044,592



836,044,592

Corporate bonds & debentures
101,745



101,745

Brokerage window account
12,320,538



12,320,538

Registered investment companies
1,578,871,132



1,578,871,132

 
 
 
 
 
Total Assets Measured at Fair Value   
$
2,937,639,797

$
1,471,455

$ —  
$
2,939,111,252

 
 
 
 
 
 Assets measured at fair value on a recurring basis at December 31, 2014 are as follows:
 
 
 
 
 
 
 
Level 1 
Level 2 
Level 3 
Total 
Assets
 
 
 
 
Interest bearing cash
$
3,707,972

$ —  
$  —  
$
3,707,972

Preferred stocks

899,133


899,133

Common stocks
798,017,324



798,017,324

Registered investment companies
289,910,701



289,910,701

 
 
 
 
 
Total Assets Measured at Fair Value   
$
1,091,635,997

$
899,133

$ —  
$
1,092,535,130

 
 
 
 
 
 
 
 
 
 
NOTE 7 —COMMON/COLLECTIVE TRUST FUNDS
Common/collective trust funds share the common goal of first growing then later preserving principal and contain a mix of U.S. stocks, U.S. issued bonds and cash. There are currently no redemption restrictions on these investments. The fair values of the investments in this category have been estimated using the net asset value per share calculated by the investment’s issuer utilizing quoted market prices, most recent bid prices in the principal market in which the securities are normally traded, pricing services and dealer quotes. Net asset values are reported by the funds and are supported by the unit prices of actual purchases and sale transactions occurring as of or close to the financial statement date. Fair values estimated using net asset value per share were as follows:

 
December 31,
2015
 
 
December 31,
2014
 
 
Common/collective trust funds
$
2,407,292,110

$
1,802,606,725


NOTE 8 —SYNTHETIC GUARANTEED INVESTMENT CONTRACTS
During 2015 and 2014, the Plan held fully benefit-responsive, synthetic guaranteed investment contracts (“synthetic GICs”) in its Stable Value Fund (the “Fund”) which are stated at contract value. A corresponding contract wrapper with the issuer of the synthetic GICs was also held in order to provide a variable rate of return on the cost of the investment. The interest crediting rate of synthetic GICs is based on the contract value, and the fair value, duration and yield to maturity of the

9



portfolio of bonds underlying the synthetic GICs. The interest crediting rate is reset quarterly. The minimum crediting rate is zero percent.
The interest crediting rate reset allows the contract value to converge with the fair value of the underlying portfolio over time, assuming the portfolio continues to earn the current yield for a period of time equal to the current portfolio duration.
 
The primary variables impacting the future interest crediting rates of synthetic GICs include the current yield of the assets underlying the contract, the duration of the assets underlying the contract and the existing difference between the fair value and contract value of the assets underlying the contract.
Synthetic GICs generally provide for withdrawals associated with certain events which are not in the ordinary course of Plan operations. These withdrawals are paid with a market value adjustment applied to the withdrawal as defined in the investment contract. Each contract issuer specifies the events which may trigger a market value adjustment. Such events include but are not limited to the following: material amendments to the Plan or in the administration of the Fund; changes to the Plan’s competing investment options including the elimination of equity wash provisions; complete or partial termination of the Plan; the failure of the Plan to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA; the redemption of all or a portion of the interests in the Fund held by the Plan at the direction of the Plan sponsor, including withdrawals due to the removal of a specifically identifiable group of employees from coverage under the Plan (such as a group layoff or early retirement incentive program), the closing or sale of a subsidiary, employing unit or affiliate, the bankruptcy or insolvency of the Plan sponsor, the merger of the Plan with another plan, or the Plan sponsor’s establishment of another tax qualified defined contribution plan; any change in law, regulation, ruling, administrative or judicial position or accounting requirement, applicable to the Fund or the Plan; or the delivery of any communication to Plan participants designed to influence a participant not to invest in the Fund.
At this time, the Plan does not believe that the occurrence of any such market value adjustment-triggering event, which would limit the Plan’s ability to transact at contract value with participants, has occurred or is probable.
If the Plan defaults in its obligations under any synthetic GIC (including the issuer’s determination that the agreement constitutes a non-exempt prohibited transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Plan will receive the fair value of the underlying investments as of the date of termination. With the exception of this circumstance, termination of the contract by the issuer would be settled at contract value.
The average yield based on interest rate credited to participants was approximately 2.08% at December 31, 2015 and 1.91% at December 31, 2014.

NOTE 9 — RECONCILIATION OF PLAN FINANCIAL STATEMENTS TO THE FORM 5500
Form 5500 requires the recording of a liability for benefit amounts processed prior to year-end but not yet paid and requires fully benefit-responsive contracts to be reported at fair value. These requirements conflict with U.S. GAAP and the presentation of such amounts in the financial statements where they remain as part of net assets available for benefits and are stated at contract value, respectively.
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:
 
 
 
 
 
December 31,
2015
 
 
December 31,
2014
 
 
Net assets available for benefits per the financial statements
$
6,057,930,357

$
3,559,068,533

Benefits due to participants
(1,138,553)

(903,230)

Adjustment to fair value from contract value for fully benefit-responsive investment contracts
6,008,021

12,141,631

 
 
 
Net assets available for benefits per the Form 5500
$
6,062,799,825

$
3,570,306,934

 
 
 

10



The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 2015:
 
 
 
Benefits paid to participants per the financial statements
$
288,938,819

Add: benefits due but unpaid at December 31, 2015
1,138,553

Less: benefits due but unpaid at December 31, 2014
(903,230)

 
 
Total benefit payments, corrective distributions and deemed distributions per the Form 5500
$
289,174,142

 
 
The following is a reconciliation of investment income per the financial statements to the Form 5500 for the year ended December 31, 2015:
 
 
 
 
Net change in Plan assets per the financial statements
$
2,498,861,824
 
Adjustment from fair value to contract value for fully benefit-responsive investment contracts at December 31, 2014
(12,141,631)
 
Adjustment from fair value to contract value for fully benefit-responsive investment contracts at December 31, 2015
6,008,021
 
Benefits due but unpaid at December 31, 2015
(1,138,553)
 
Benefits due but unpaid at December 31, 2014
903,230
 
 
 
Net income and transfers in per the Form 5500
$
2,492,492,891
 
 
 
NOTE 10 — TRANSFERS INTO THE PLAN FROM ANOTHER PLAN
As described in Note 1, the Exelis Retirement Savings Plan was merged into the Plan effective December 31, 2015. In connection with the merger, an addition to net assets attributed to a transfer into the Plan of $2,605,699,398 is included in the Statement of Changes in Net Assets Available for Benefits as of December 31, 2015.
NOTE 11 — SUBSEQUENT EVENTS
After the end of the Plan’s fiscal year, during January 2016, in connection with the merger of the Exelis Retirement Savings Plan into the Plan effective December 31, 2015, assets of the Exelis Retirement Savings Plan were transferred from the trustee of the Exelis Retirement Savings Plan to the Trustee of the Plan. In addition, the participant accounts and record keeping function of the Exelis Retirement Savings Plan were moved from the record keeper for the Exelis Retirement Savings Plan to the record keeper for the Plan.

11



SUPPLEMENTAL INFORMATION
Harris Corporation Retirement Plan
E.I.N. 34-0276860
Plan Number 015
Schedule H, Line 4(i)
Schedule of Assets (Held at End of Year)
December 31, 2015
 








(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
 
 
 
 
 
 
 
Value of Interest in Interest Bearing Cash
 
United States dollar
 
510301790
 
 
 
$
510,301,790

 
Total Value of Interest in Interest Bearing Cash
 
 
 
 
 
$
510,301,790

 
 
 
 
 
 
 
 
Value of Interest in Preferred Stocks
 
AIRBNB INC SER E CVT PFD STK T-ROWE
 
2468
 
 
 
$
229,757

 
 
 
 
 
 
 
 
 
AIRBNB INC SERIES D CVT PFD STOCK TROWE PRICE ONLY
 
1693
 
 
 
206,782

 
 
 
 
 
 
 
 
 
FLIPKART - TROWE PRICE ONLY SER E PFD STK
 
337
 
 
 
38,341

 
 
 
 
 
 
 
 
 
FLIPKART LIMITED SERIES G PREFERENCE SHARES - T ROWE PRICE ONLY
 
1541
 
 
 
184,550

 
 
 
 
 
 
 
 
 
FLIPKART LTD - TROWE PRICE ONLY SER A PFD STK
 
104
 
 
 
11,832

 
 
 
 
 
 
 
 
 
FLIPKART LTD - TROWE PRICE ONLY SER C PFD STK
 
181
 
 
 
20,593

 
 
 
 
 
 
 
 
 
FLIPKART LTD - TROWE PRICE ONLY ORDINARY SHARES
 
300
 
 
 
34,132

 
 
 
 
 
 
 
 
 
LIVING SOCIAL INC PFD STK SER F TROWE PRICE ONLY
 
6726
 
 
 
3,094

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
12









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
SER C CVT PFD STK DROPBOX SERIES C PREFERRED TROWE PRICE ONLY
 
10857
 
 
 
207,382

 
 
 
 
 
 
 
 
 
UBER TECHNOLOGIES INC SER E PFD STK-TROWE PRICE ONLY
 
8924
 
 
 
297,326

 
 
 
 
 
 
 
 
 
UBER TECHNOLOGIES INC SER G CVTPFD STK T-ROWE
 
4873
 
 
 
237,666

 
Total Value of Interest in Preferred Stocks
 
 
 
 
 
$
1,471,455

 
 
 
 
 
 
 
 
 
Value of Interest in Brokerage Window Account
 
BROKERAGE WINDOW ACCOUNT
 
 
 
 
 
$
12,320,538

 
Total Value of Interest in Brokerage Window Account
 
 
 
 
 
$
12,320,538

 
 
 
 
 
 
 
 
 
Value of Interest in Corporate Bonds & Debentures
 
PVTPL VRX ESCROW CORP USD SR NT 144A 5.875% DUE 05-15-2023
 
114000
 
 
 
$
101,745

 
Total Value of Interest in Corporate Bonds & Debentures
 
 
 
 
 
$
101,745

 
 
 
 
 
 
 
 
 
Value of Interest in Common Stocks
 
5TH 3RD BANCORP COM
 
76300
 
 
 
$
1,533,630

 
 
 
 
 
 
 
 
 
ADDUS HOMECARE CORP COM STK
 
10871
 
 
 
253,077

 
 
 
 
 
 
 
 
 
ADOBE SYS INC COM
 
61400
 
 
 
5,767,916

 
 
 
 
 
 
 
 
 
ADR ALIBABA GROUP HLDG LTD-SP A
 
91400
 
 
 
7,428,078

 
 
 
 
 
 
 
 
 
ADR ASML HLDG NV NY REG 2012 (POST REV SPLIT)
 
9700
 
 
 
861,069

 
 
 
 
 
 
 
 
 
ADR BAIDU INC SPONSORED ADR
 
39500
 
 
 
7,467,080

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
13









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
ADR ROYAL DUTCH SHELL PLC SPONSORED ADR REPSTG A SHS
 
80700
 
 
 
3,695,253

 
 
 
 
 
 
 
 
 
ADR TENCENT HLDGS LTD ADR
 
68800
 
 
 
1,349,856

 
 
 
 
 
 
 
 
 
AES CORP COM
 
229000
 
 
 
2,191,530

 
 
 
 
 
 
 
 
 
AIR METHODS CORP COM NEW
 
37767
 
 
 
1,583,570

 
 
 
 
 
 
 
 
 
AKAMAI TECHNOLOGIES INC COM STK
 
11000
 
 
 
578,930

 
 
 
 
 
 
 
 
 
ALASKA AIR GROUP INC COM
 
13400
 
 
 
1,078,834

 
 
 
 
 
 
 
 
 
ALBANY INTL CORP NEW CL A
 
63284
 
 
 
2,313,030

 
 
 
 
 
 
 
 
 
ALEXION PHARMACEUTICALS INC COM
 
57700
 
 
 
11,006,275

 
 
 
 
 
 
 
 
 
ALLERGAN PLC. COMMON STOCK
 
16062
 
 
 
5,019,375

 
 
 
 
 
 
 
 
 
ALPHABET INC CAP STK CL A
 
17600
 
 
 
13,692,976

 
 
 
 
 
 
 
 
 
ALPHABET INC CAP STK CL C
 
9050
 
 
 
6,867,864

 
 
 
 
 
 
 
 
 
AMAZON COM INC COM
 
25671
 
 
 
17,350,772

 
 
 
 
 
 
 
 
 
AMERICAN AIRLINES INC COM USD1
 
76500
 
 
 
3,239,775

 
 
 
 
 
 
 
 
 
AMERICAN CAP LTD COM STK
 
193733
 
 
 
2,671,578

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
14









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
AMERICAN EQUITY INVT LIFE HLDG CO COM
 
14392
 
 
 
345,840

 
 
 
 
 
 
 
 
 
AMERICAN EXPRESS CO
 
47700
 
 
 
3,317,535

 
 
 
 
 
 
 
 
 
AMERIPRISE FINL INC COM
 
21000
 
 
 
2,234,820

 
 
 
 
 
 
 
 
 
ANADARKO PETRO CORP COM
 
25300
 
 
 
1,229,074

 
 
 
 
 
 
 
 
 
ANALOG DEVICES INC COM
 
37500
 
 
 
2,074,500

 
 
 
 
 
 
 
 
 
ANTHEM INC COM
 
38436
 
 
 
5,359,516

 
 
 
 
 
 
 
 
 
APACHE CORP COM
 
89400
 
 
 
3,975,618

 
 
 
 
 
 
 
 
 
APPLE INC COM STK
 
19900
 
 
 
2,094,674

 
 
 
 
 
 
 
 
 
APPLIED MATERIALS INC COM
 
185400
 
 
 
3,461,418

 
 
 
 
 
 
 
 
 
ARCHER-DANIELS-MIDLAND CO COM
 
76400
 
 
 
2,802,352

 
 
 
 
 
 
 
 
 
ARCHROCK INC COM
 
45677
 
 
 
343,491

 
 
 
 
 
 
 
 
 
ASCENT CAP GROUP INC COM SER A STK
 
16422
 
 
 
274,576

 
 
 
 
 
 
 
 
 
ASSURANT INC COM
 
20057
 
 
 
1,615,391

 
 
 
 
 
 
 
 
 
AT&T INC COM
 
22941
 
 
 
789,400

 
 
 
 
 
 
 
 
 
ATHENAHEALTH INC COMMON STOCK
 
19600
 
 
 
3,155,012

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
15









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
ATLC TELE-NETWORK INC COM NEW
 
22966
 
 
 
1,796,630

 
 
 
 
 
 
 
 
 
AVON PRODUCTS INC COM USD0.25
 
124000
 
 
 
502,200

 
 
 
 
 
 
 
 
 
BANK NEW YORK MELLON CORP COM STK
 
57500
 
 
 
2,370,150

 
 
 
 
 
 
 
 
 
BANK OF AMERICA CORP
 
282364
 
 
 
4,752,186

 
 
 
 
 
 
 
 
 
BECTON DICKINSON & CO COM
 
11200
 
 
 
1,725,808

 
 
 
 
 
 
 
 
 
BIOGEN INC COMMON STOCK
 
13800
 
 
 
4,227,630

 
 
 
 
 
 
 
 
 
BIOMARIN PHARMACEUTICAL INC COM ISIN CH0008107010
 
48800
 
 
 
5,112,288

 
 
 
 
 
 
 
 
 
BOEING CO COM
 
81100
 
 
 
11,726,249

 
 
 
 
 
 
 
 
 
BRISTOL MYERS SQUIBB CO COM
 
86600
 
 
 
5,957,214

 
 
 
 
 
 
 
 
 
BROADRIDGE FINL SOLUTIONS INC COM STK
 
31885
 
 
 
1,713,181

 
 
 
 
 
 
 
 
 
CA INC COM
 
41400
 
 
 
1,182,384

 
 
 
 
 
 
 
 
 
CAMPUS CREST CMNTYS CASH MERGER 03-03-2016
 
57439
 
 
 
390,585

 
 
 
 
 
 
 
 
 
CANADIAN PAC RY LTD COM NPV
 
17100
 
 
 
2,181,960

 
 
 
 
 
 
 
 
 
CARMAX INC COM
 
14600
 
 
 
787,962

 
 
 
 
 
 
 
 
 
CARNIVAL CORP COM PAIRED
 
45600
 
 
 
2,484,288


See Report of Independent Registered Certified Public Accounting Firm
16









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
CASEYS GEN STORES INC COM
 
7757
 
 
 
934,331

 
 
 
 
 
 
 
 
 
CASH AMER INVTS INC COM
 
55798
 
 
 
1,671,150

 
 
 
 
 
 
 
 
 
CATO CORP CL A
 
26232
 
 
 
965,862

 
 
 
 
 
 
 
 
 
CDN NAT RES LTD COM CDN NAT RES COM STK
 
90800
 
 
 
1,982,164

 
 
 
 
 
 
 
 
 
CELGENE CORP COM
 
19800
 
 
 
2,371,248

 
 
 
 
 
 
 
 
 
CENTURYLINK INC COM
 
49875
 
 
 
1,254,855

 
 
 
 
 
 
 
 
 
CERNER CORP COM
 
48500
 
 
 
2,918,245

 
 
 
 
 
 
 
 
 
CHEVRON CORP COM
 
41178
 
 
 
3,704,373

 
 
 
 
 
 
 
 
 
CHIPOTLE MEXICAN GRILL INC COM STK
 
9200
 
 
 
4,414,620

 
 
 
 
 
 
 
 
 
CHUBB CORP COM CASH AND STOCK MERGER 221RA71 01-15-2016
 
14700
 
 
 
1,949,808

 
 
 
 
 
 
 
 
 
CIGNA CORPORATION
 
9800
 
 
 
1,434,034

 
 
 
 
 
 
 
 
 
CISCO SYSTEMS INC
 
116100
 
 
 
3,152,696

 
 
 
 
 
 
 
 
 
CITIGROUP INC COM
 
60000
 
 
 
3,105,000

 
 
 
 
 
 
 
 
 
CLEARWATER PAPER CORP COM STK
 
28988
 
 
 
1,319,824

 
 
 
 
 
 
 
 
 
COLUMBIA PIPELINE GROUP INC COM
 
97200
 
 
 
1,944,000

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
17









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
COMCAST CORP CL A
 
37600
 
 
 
2,121,768

 
 
 
 
 
 
 
 
 
CORELOGIC INC-W/I COM STK
 
9706
 
 
 
328,645

 
 
 
 
 
 
 
 
 
CORE-MARK HLDG CO INC COM
 
25038
 
 
 
2,051,614

 
 
 
 
 
 
 
 
 
CTS CORP COM
 
62009
 
 
 
1,093,839

 
 
 
 
 
 
 
 
 
CULP INC COM
 
16614
 
 
 
423,159

 
 
 
 
 
 
 
 
 
CUMMINS INC
 
9200
 
 
 
809,692

 
 
 
 
 
 
 
 
 
DANAHER CORP COM
 
64152
 
 
 
5,958,438

 
 
 
 
 
 
 
 
 
DEERE & CO COM
 
31500
 
 
 
2,402,505

 
 
 
 
 
 
 
 
 
DELTIC TIMBER CORP COM
 
20414
 
 
 
1,201,772

 
 
 
 
 
 
 
 
 
DENNYS CORP COM
 
125497
 
 
 
1,233,636

 
 
 
 
 
 
 
 
 
DESTINATION MATERNITY CORP COM STK
 
49199
 
 
 
429,015

 
 
 
 
 
 
 
 
 
DIAMOND RESORTS OWNER TRUST COM USD0.01
 
69919
 
 
 
1,783,634

 
 
 
 
 
 
 
 
 
DIGITAL RLTY TR INC COM
 
19600
 
 
 
1,482,152

 
 
 
 
 
 
 
 
 
DIGITALGLOBE INC COM
 
37562
 
 
 
588,221

 
 
 
 
 
 
 
 
 
DROPBOX INC CL A COM STK - TROWE PRICE ONLY
 
2210
 
 
 
42,214

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
18









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
DST SYS INC COM
 
4848
 
 
 
552,963

 
 
 
 
 
 
 
 
 
DU PONT E I DE NEMOURS & CO COM STK
 
57300
 
 
 
3,816,180

 
 
 
 
 
 
 
 
 
DUKE ENERGY CORP COM
 
20302
 
 
 
1,449,360

 
 
 
 
 
 
 
 
 
EATON CORP PLC COM USD0.50
 
1538
 
 
 
80,038

 
 
 
 
 
 
 
 
 
ECHOSTAR CORPORATION
 
44656
 
 
 
1,746,496

 
 
 
 
 
 
 
 
 
EDISON INTL COM
 
32100
 
 
 
1,900,641

 
 
 
 
 
 
 
 
 
EDWARDS LIFESCIENCES CORP COM
 
35600
 
 
 
2,811,688

 
 
 
 
 
 
 
 
 
ELECTRO RENT CORP COM
 
25824
 
 
 
237,581

 
 
 
 
 
 
 
 
 
ELI LILLY & CO COM
 
20800
 
 
 
1,752,608

 
 
 
 
 
 
 
 
 
EMC CORP COM
 
79600
 
 
 
2,044,128

 
 
 
 
 
 
 
 
 
EMERSON ELECTRIC CO COM
 
63100
 
 
 
3,018,073

 
 
 
 
 
 
 
 
 
ENPRO INDS INC COM
 
27353
 
 
 
1,199,156

 
 
 
 
 
 
 
 
 
ENTERGY CORP COM
 
47100
 
 
 
3,219,756

 
 
 
 
 
 
 
 
 
EXELON CORP COM
 
23800
 
 
 
660,926

 
 
 
 
 
 
 
 
 
EXXON MOBIL CORP COM
 
80326
 
 
 
6,261,412

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
19









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
FACEBOOK INC CL A
 
151292
 
 
 
15,834,221

 
 
 
 
 
 
 
 
 
FARMERS CAP BK CORP COM
 
10462
 
 
 
283,625

 
 
 
 
 
 
 
 
 
FEDERAL SIGNAL CORP COM
 
65326
 
 
 
1,035,417

 
 
 
 
 
 
 
 
 
FEDEX CORP COM
 
10300
 
 
 
1,534,597

 
 
 
 
 
 
 
 
 
FERRARI N V MANDATORY EXCHANGE FERRARI N V 221UA41 01-04-2016
 
8220
 
 
 
394,560

 
 
 
 
 
 
 
 
 
FIRSTENERGY CORP COM
 
100735
 
 
 
3,196,322

 
 
 
 
 
 
 
 
 
FLOWSERVE CORP COM
 
27460
 
 
 
1,155,517

 
 
 
 
 
 
 
 
 
FMC TECHNOLOGIES INC COM
 
66000
 
 
 
1,914,660

 
 
 
 
 
 
 
 
 
FORD MTR CO DEL COM PAR $0.01 COM PAR $0.01
 
30800
 
 
 
433,972

 
 
 
 
 
 
 
 
 
FOREST CITY MANDATORY EXCHANGE 2411AD1 01-04-2016
 
80381
 
 
 
1,762,755

 
 
 
 
 
 
 
 
 
GEN MTRS CO COM
 
58827
 
 
 
2,000,706

 
 
 
 
 
 
 
 
 
GENERAL ELECTRIC CO
 
301700
 
 
 
9,397,955

 
 
 
 
 
 
 
 
 
GENUINE PARTS CO COM
 
1700
 
 
 
146,013

 
 
 
 
 
 
 
 
 
GILEAD SCIENCES INC
 
31900
 
 
 
3,227,961

 
 
 
 
 
 
 
 
 
GLAXOSMITHKLINE ORD GBP0.25
 
93567
 
 
 
1,893,482

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
20









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
HANESBRANDS INC COM STK
 
48700
 
 
 
1,433,241

 
 
 
 
 
 
 
 
 
*HARRIS CORP COM
 
2387863
 
 
 
207,505,295

 
 
 
 
 
 
 
 
 
HESS CORP COM STK
 
59600
 
 
 
2,889,408

 
 
 
 
 
 
 
 
 
HILTON WORLDWIDE HLDGS INC COM
 
112950
 
 
 
2,417,130

 
 
 
 
 
 
 
 
 
HUMANA INC COM
 
8000
 
 
 
1,428,080

 
 
 
 
 
 
 
 
 
ILL TOOL WKS INC COM
 
33400
 
 
 
3,095,512

 
 
 
 
 
 
 
 
 
ILLUMINA INC COM
 
23300
 
 
 
4,472,319

 
 
 
 
 
 
 
 
 
INCYTE CORP COM
 
29900
 
 
 
3,242,655

 
 
 
 
 
 
 
 
 
INNOPHOS HLDGS INC COM STK
 
10337
 
 
 
299,566

 
 
 
 
 
 
 
 
 
INTERCONTINENTAL EXCHANGE INC COM
 
9330
 
 
 
2,390,906

 
 
 
 
 
 
 
 
 
INTERNATIONAL BUSINESS MACHS CORP COM
 
2100
 
 
 
289,002

 
 
 
 
 
 
 
 
 
INTL PAPER CO COM
 
79196
 
 
 
2,985,689

 
 
 
 
 
 
 
 
 
INTUITIVE SURGICAL INC COM STK
 
6400
 
 
 
3,495,424

 
 
 
 
 
 
 
 
 
JOHNSON & JOHNSON COM USD1
 
56100
 
 
 
5,762,592

 
 
 
 
 
 
 
 
 
JOHNSON CTL INC COM
 
51600
 
 
 
2,037,684

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
21









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
JPMORGAN CHASE & CO COM
 
138424
 
 
 
9,140,137

 
 
 
 
 
 
 
 
 
JUNIPER NETWORKS INC COM
 
27100
 
 
 
747,960

 
 
 
 
 
 
 
 
 
KADANT INC COM
 
28835
 
 
 
1,170,989

 
 
 
 
 
 
 
 
 
KELLOGG CO COM USD0.25
 
21000
 
 
 
1,517,670

 
 
 
 
 
 
 
 
 
KMG CHEMICALS INC COM
 
13678
 
 
 
314,868

 
 
 
 
 
 
 
 
 
KOHLS CORP COM
 
55500
 
 
 
2,643,465

 
 
 
 
 
 
 
 
 
LAS VEGAS SANDS CORP COM STK
 
45900
 
 
 
2,012,256

 
 
 
 
 
 
 
 
 
LENDINGCLUB CORP COM
 
207000
 
 
 
2,287,350

 
 
 
 
 
 
 
 
 
LILAC GROUP - CL C W /I COMMON STOCK
 
26187
 
 
 
1,126,041

 
 
 
 
 
 
 
 
 
LINKEDIN CORP CL A
 
38100
 
 
 
8,575,548

 
 
 
 
 
 
 
 
 
LOWES COS INC COM
 
122000
 
 
 
5,968,324

 
 
 
 
 
 
 
 
 
MACERICH CO REIT
 
4100
 
 
 
330,829

 
 
 
 
 
 
 
 
 
MACYS INC COM STK
 
41200
 
 
 
1,441,176

 
 
 
 
 
 
 
 
 
MAIDEN HOLDINGS LTD\MAIDEN HOLDINGS LTD\COM STK
 
37511
 
 
 
559,289

 
 
 
 
 
 
 
 
 
MARSH & MCLENNAN CO'S INC COM
 
65200
 
 
 
3,615,340

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
22









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
MATTEL INC COM
 
133800
 
 
 
3,635,346

 
 
 
 
 
 
 
 
 
MAXIMUS INC COM
 
9200
 
 
 
517,500

 
 
 
 
 
 
 
 
 
MC CORMICK & CO INC COM NON-VTG
 
6200
 
 
 
530,472

 
 
 
 
 
 
 
 
 
MCGRATH RENTCORP COM
 
42819
 
 
 
1,078,611

 
 
 
 
 
 
 
 
 
MCKESSON CORP
 
4850
 
 
 
956,566

 
 
 
 
 
 
 
 
 
MEDLEY MGMT INC CL A COM
 
26283
 
 
 
149,550

 
 
 
 
 
 
 
 
 
MERCK & CO INC COM
 
67600
 
 
 
3,570,632

 
 
 
 
 
 
 
 
 
METLIFE INC COM STK USD0.01
 
91200
 
 
 
4,396,752

 
 
 
 
 
 
 
 
 
MFA FINL INC
 
211033
 
 
 
1,392,818

 
 
 
 
 
 
 
 
 
MGM RESORTS INTERNATIONAL COM
 
107062
 
 
 
2,432,449

 
 
 
 
 
 
 
 
 
MICROSOFT CORP COM
 
181000
 
 
 
10,041,880

 
 
 
 
 
 
 
 
 
MLP GREEN PLAINS PARTNERS LP COM UNIT REPSTG LTD PARTNER INT
 
11738
 
 
 
190,743

 
 
 
 
 
 
 
 
 
MLP OCH-ZIFF CAP MGMT GROUP CL A SHS CL A
 
73900
 
 
 
460,397

 
 
 
 
 
 
 
 
 
MOBILEYE NV EUR0.01
 
73500
 
 
 
3,107,580

 
 
 
 
 
 
 
 
 
MONSANTO CO COM
 
39400
 
 
 
3,881,688

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
23









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
MORGAN STANLEY COM STK USD0.01
 
237900
 
 
 
7,567,599

 
 
 
 
 
 
 
 
 
MURPHY USA INC COM
 
27482
 
 
 
1,669,257

 
 
 
 
 
 
 
 
 
NATIONAL GEN HLDGS CORP COM
 
32153
 
 
 
702,865

 
 
 
 
 
 
 
 
 
NEENAH PAPER INC COM
 
29465
 
 
 
1,839,500

 
 
 
 
 
 
 
 
 
NETFLIX INC COM STK
 
38250
 
 
 
4,375,035

 
 
 
 
 
 
 
 
 
NETSUITE INC COM STK
 
13800
 
 
 
1,167,756

 
 
 
 
 
 
 
 
 
NEWS CORP CL A
 
101400
 
 
 
1,354,704

 
 
 
 
 
 
 
 
 
NIKE INC CL B
 
17600
 
 
 
1,100,000

 
 
 
 
 
 
 
 
 
NISOURCE INC COM
 
133000
 
 
 
2,594,830

 
 
 
 
 
 
 
 
 
NORTHERN TR CORP COM
 
51300
 
 
 
3,698,217

 
 
 
 
 
 
 
 
 
NORTHSTAR ASSET MGMT GROUP INC COM USD0.01
 
100694
 
 
 
1,222,425

 
 
 
 
 
 
 
 
 
NUCOR CORP COM
 
63300
 
 
 
2,550,990

 
 
 
 
 
 
 
 
 
NXP SEMICONDUCTORS N V COM STK
 
12700
 
 
 
1,069,975

 
 
 
 
 
 
 
 
 
OCCIDENTAL PETROLEUM CORP
 
31400
 
 
 
2,122,954

 
 
 
 
 
 
 
 
 
OCEANFIRST FINL CORP COM
 
23862
 
 
 
477,956

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
24









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
ORITANI FINL CORP COM STK
 
56905
 
 
 
938,933

 
 
 
 
 
 
 
 
 
PAC PREMIER BANCORP COM
 
22456
 
 
 
477,190

 
 
 
 
 
 
 
 
 
PALO ALTO NETWORKS INC COM USD0.0001
 
22100
 
 
 
3,892,694

 
 
 
 
 
 
 
 
 
PAR PACIFIC HOLDINGS INC COM
 
47565
 
 
 
1,119,680

 
 
 
 
 
 
 
 
 
PATRIOT NATL INC COM
 
22762
 
 
 
152,733

 
 
 
 
 
 
 
 
 
PAYPAL HLDGS INC COM
 
29900
 
 
 
1,082,380

 
 
 
 
 
 
 
 
 
PENTAIR PLC COM STK
 
43200
 
 
 
2,139,696

 
 
 
 
 
 
 
 
 
PEPSICO INC COM
 
27600
 
 
 
2,757,792

 
 
 
 
 
 
 
 
 
PFIZER INC COM
 
172847
 
 
 
5,579,501

 
 
 
 
 
 
 
 
 
PG& E CORP COM
 
48200
 
 
 
2,563,758

 
 
 
 
 
 
 
 
 
PNC FINANCIAL SERVICES GROUP COM STK
 
23400
 
 
 
2,230,254

 
 
 
 
 
 
 
 
 
PRIMERICA INC COM
 
18280
 
 
 
863,364

 
 
 
 
 
 
 
 
 
PROVIDENCE SVC CORP COM STK
 
6400
 
 
 
300,288

 
 
 
 
 
 
 
 
 
QUALCOMM INC COM
 
62800
 
 
 
3,139,058

 
 
 
 
 
 
 
 
 
RAYONIER INC REIT
 
58400
 
 
 
1,296,480

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
25









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
RED HAT INC COM
 
13400
 
 
 
1,109,654

 
 
 
 
 
 
 
 
 
REGENERON PHARMACEUTICALS INC COM
 
15300
 
 
 
8,305,911

 
 
 
 
 
 
 
 
 
RENASANT CORP COM
 
22507
 
 
 
774,466

 
 
 
 
 
 
 
 
 
RIGNET INC COM
 
27983
 
 
 
578,968

 
 
 
 
 
 
 
 
 
ROYAL BK SCOT GRP ORD GBP1
 
406347
 
 
 
1,808,723

 
 
 
 
 
 
 
 
 
ROYAL CARIBBEAN CRUISES COM STK
 
12400
 
 
 
1,255,004

 
 
 
 
 
 
 
 
 
S.W. AIRL CO COM
 
15400
 
 
 
663,124

 
 
 
 
 
 
 
 
 
SALESFORCE COM INC COM STK
 
161300
 
 
 
12,645,920

 
 
 
 
 
 
 
 
 
SCHLUMBERGER LTD COM
 
38000
 
 
 
2,650,500

 
 
 
 
 
 
 
 
 
SCHWAB CHARLES CORP COM
 
122000
 
 
 
4,017,460

 
 
 
 
 
 
 
 
 
SERVICENOW INC COM USD0.001
 
18000
 
 
 
1,558,080

 
 
 
 
 
 
 
 
 
SPLUNK INC COMSTK COM USD0.001
 
59300
 
 
 
3,487,433

 
 
 
 
 
 
 
 
 
STANCORP FINL CASH MERGR 03-07-2016
 
10645
 
 
 
1,212,253

 
 
 
 
 
 
 
 
 
STAPLES INC COM
 
69000
 
 
 
653,430

 
 
 
 
 
 
 
 
 
STARBUCKS CORP COM
 
20600
 
 
 
1,236,618

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
26









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
STATE STR CORP COM
 
67100
 
 
 
4,452,756

 
 
 
 
 
 
 
 
 
SUN LIFE FINANCIAL INC.
 
39100
 
 
 
1,219,920

 
 
 
 
 
 
 
 
 
SYNOVUS FINL CORP COM
 
75435
 
 
 
2,442,585

 
 
 
 
 
 
 
 
 
TD AMERITRADE HLDG CORP COM STK
 
34000
 
 
 
1,180,140

 
 
 
 
 
 
 
 
 
TE CONNECTIVITY LTD
 
9100
 
 
 
587,951

 
 
 
 
 
 
 
 
 
TELEFONICA SA EUR1
 
110427
 
 
 
1,227,758

 
 
 
 
 
 
 
 
 
TESLA MTRS INC COM
 
7030
 
 
 
1,687,270

 
 
 
 
 
 
 
 
 
TEXAS INSTRUMENTS INC COM
 
48900
 
 
 
2,680,209

 
 
 
 
 
 
 
 
 
TEXTRON INC COM
 
44100
 
 
 
1,852,641

 
 
 
 
 
 
 
 
 
TFS FINL CORP COM STK
 
150607
 
 
 
2,835,930

 
 
 
 
 
 
 
 
 
THE PRICELINE GROUP INC
 
9350
 
 
 
11,920,783

 
 
 
 
 
 
 
 
 
THERMON GROUP HLDGS INC
 
14613
 
 
 
247,252

 
 
 
 
 
 
 
 
 
TIME WARNER INC USD0.01
 
8300
 
 
 
536,761

 
 
 
 
 
 
 
 
 
T-MOBILE US INC COM
 
32200
 
 
 
1,259,664

 
 
 
 
 
 
 
 
 
TOTAL EUR2.5
 
22224
 
 
 
996,217

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
27









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
TRACTOR SUPPLY CO COM
 
20000
 
 
 
1,710,000

 
 
 
 
 
 
 
 
 
TRIUMPH BANCORP INC COM
 
6397
 
 
 
105,551

 
 
 
 
 
 
 
 
 
TWENTY-FIRST CENTY FOX INC CL A
 
69800
 
 
 
1,895,768

 
 
 
 
 
 
 
 
 
TWENTY-FIRST CENTY FOX INC CL B
 
48200
 
 
 
1,312,486

 
 
 
 
 
 
 
 
 
TYCO INTERNATIONAL PLC EUR1.00
 
56600
 
 
 
1,804,974

 
 
 
 
 
 
 
 
 
UNDER ARMOR INC CL A
 
33000
 
 
 
2,660,130

 
 
 
 
 
 
 
 
 
UNION PAC CORP COM
 
17100
 
 
 
1,337,220

 
 
 
 
 
 
 
 
 
UNITED PARCEL SVC INC CL B
 
29000
 
 
 
2,790,670

 
 
 
 
 
 
 
 
 
UNITED TECHNOLOGIES CORP COM
 
5900
 
 
 
566,813

 
 
 
 
 
 
 
 
 
UNITEDHEALTH GROUP INC COM
 
26600
 
 
 
3,129,224

 
 
 
 
 
 
 
 
 
US BANCORP
 
32900
 
 
 
1,403,843

 
 
 
 
 
 
 
 
 
VALEANT PHARMACEUTICALS INTERNATIONAL INC COMMON STOCK
 
18830
 
 
 
1,914,070

 
 
 
 
 
 
 
 
 
VERIZON COMMUNICATIONS COM
 
91891
 
 
 
4,250,498

 
 
 
 
 
 
 
 
 
VERTEX PHARMACEUTICALS INC COM
 
13600
 
 
 
1,711,288

 
 
 
 
 
 
 
 
 
VIACOM INC CL B
 
10200
 
 
 
419,832

 
 
 
 
 
 
 
 

See Report of Independent Registered Certified Public Accounting Firm
28









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
VISA INC COM CL A STK
 
255900
 
 
 
19,845,045

 
 
 
 
 
 
 
 
 
VODAFONE GROUP ORD USD0.2095238
 
214930
 
 
 
700,096

 
 
 
 
 
 
 
 
 
VULCAN MATERIALS CO COM
 
52500
 
 
 
4,985,925

 
 
 
 
 
 
 
 
 
WABTEC CORP COM
 
17500
 
 
 
1,244,600

 
 
 
 
 
 
 
 
 
WAL-MART STORES INC COM
 
33500
 
 
 
2,053,550

 
 
 
 
 
 
 
 
 
WALT DISNEY CO
 
16300
 
 
 
1,712,804

 
 
 
 
 
 
 
 
 
WELLS FARGO & CO COM STK
 
63100
 
 
 
3,430,116

 
 
 
 
 
 
 
 
 
WESTN DIGITAL CORP COM
 
10400
 
 
 
624,520

 
 
 
 
 
 
 
 
 
WESTROCK CO COM
 
9412
 
 
 
429,375

 
 
 
 
 
 
 
 
 
WEYERHAEUSER CO COM
 
77645
 
 
 
2,327,797

 
 
 
 
 
 
 
 
 
WILLIS GROUP REVERSE STOCK SPLIT WILLIS TOWERS 2217AC1 01-05-2016
 
13400
 
 
 
650,838

 
 
 
 
 
 
 
 
 
WORKDAY INC CL A COM USD0.001
 
8000
 
 
 
637,440

 
 
 
 
 
 
 
 
 
XCEL ENERGY INC COM
 
80600
 
 
 
2,894,346

 
 
 
 
 
 
 
 
 
XL GROUP PLC ORD USD0.01
 
21800
 
 
 
854,116

 
Total Value of Interest in Common Stocks
 
 
 
 
 
$
836,044,592

 
 
 
 
 
 
 
 
 
Value of Interest in Registered Investment Companies
 
ALLIANZ FDS ALLIANZGI TECHNOLOGY FD INSTL CL
 
1709265
 
 
 
$
92,796,006


See Report of Independent Registered Certified Public Accounting Firm
29



 
 
 
 
 
 
 
 






(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
AMERICAN 2010 TARGET DATE RETIREMENT FUND CLASS R6
 
13756633
 
 
 
134,264,738

 
 
 
 
 
 
 
 
 
AMERICAN 2015 TARGET DATE RETIREMENT FUND CLASS R6
 
11560696
 
 
 
119,537,603

 
 
 
 
 
 
 
 
 
AMERICAN 2020 TARGET DATE RETIREMENT FUND CLASS R6
 
23192841
 
 
 
256,976,683

 
 
 
 
 
 
 
 
 
AMERICAN 2025 TARGET DATE RETIREMENT FUND CLASS R6
 
22320712
 
 
 
258,250,642

 
 
 
 
 
 
 
 
 
AMERICAN 2030 TARGET DATE RETIREMENT FUND CLASS R6
 
14105526
 
 
 
170,394,757

 
 
 
 
 
 
 
 
 
AMERICAN 2035 TARGET DATE RETIREMENT FUND CLASS R6
 
7864955
 
 
 
95,401,900

 
 
 
 
 
 
 
 
 
AMERICAN 2040 TARGET DATE RETIREMENT FUND CLASS R6
 
5146148
 
 
 
63,452,009

 
 
 
 
 
 
 
 
 
AMERICAN 2045 TARGET DATE RETIREMENT FUND CLASS R6
 
3976519
 
 
 
49,467,896

 
 
 
 
 
 
 
 
 
AMERICAN 2050 TARGET DATE RETIREMENT FUND CLASS R6
 
2305096
 
 
 
28,029,970

 
 
 
 
 
 
 
 
 
AMERICAN 2055 TARGET DATE RETIREMENT FUND CLASS R6
 
665305
 
 
 
10,052,756

 
 
 
 
 
 
 
 
 
AMERICAN NEW PERSPECTIVE FUND CLASS R6
 
929326
 
 
 
33,474,340

 
 
 
 
 
 
 
 
 
DFA US TARGETED VAL PORTFOLIO
 
1245954
 
 
 
24,607,586

 
 
 
 
 
 
 
 
 
DODGE & COX INTERNATIONAL STOCK FUND #1048
 
722404
 
 
 
26,353,293


See Report of Independent Registered Certified Public Accounting Firm
30



 
 
 
 
 
 
 
 






(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
FRANKLIN SMALL CAP GROWTH FUND
 
1772638
 
 
 
32,386,087

 
 
 
 
 
 
 
 
 
HARTFORD SER FD INC SMALL CO HLS FD CL IA
 
5654124
 
 
 
99,060,260

 
 
 
 
 
 
 
 
 
JP MORGAN CORE BOND FUND #3900
 
1844102
 
 
 
21,317,822

 
 
 
 
 
 
 
 
 
MONEY MKT OBLIGS TR FEDT GOVT OBLIGSFD INSTL SHS
 
60027488
 
 
 
60,027,488

 
 
 
 
 
 
 
 
 
RESV INVT FDS INC
 
3019298
 
 
 
3,019,296

 
Total Value of Interest in Registered Investment Companies
 
 
 
 
 

$1,578,871,132

 
 
 
 
 
 
 
 
 
Value of Interest in Common/Collective Trust Funds
 
BLACKROCK ACW I EX-US INDEX NON LENDABLE FD M
 
7712898
 
 
 
$
85,141,137

 
 
 
 
 
 
 
 
 
BLACKROCK EQUITY INDEX NL FUND M
 
13960876
 
 
 
220,252,365

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX 2020 NL FUND F
 
4107467
 
 
 
77,223,672

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX RETIREMENT 2025 NL CL F
 
5299493
 
 
 
105,118,621

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX 2030 NL FUND F
 
3695979
 
 
 
76,481,255

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX RETIREMENT 2035 NL CL F
 
2400899
 
 
 
51,679,821

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX 2040 NL FUND F
 
2022370
 
 
 
45,051,324

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX RETIREMENT 2045 NL CL F
 
2090106
 
 
 
48,177,161


See Report of Independent Registered Certified Public Accounting Firm
31



 
 
 
 
 
 
 
 






(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
BLACKROCK LIFEPATH INDEX 2050 NL FUND F
 
1650541
 
 
 
39,284,202

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX 2055 NON LENDING FD F
 
562019
 
 
 
9,673,246

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH 2060 NL F
 
27872
 
 
 
273,155

 
 
 
 
 
 
 
 
 
BLACKROCK LIFEPATH INDEX RETIREMENT NL CL F
 
3221356
 
 
 
53,688,420

 
 
 
 
 
 
 
 
 
BLACKROCK RUSSELL 2000 INDEX NL FUND M
 
4800779
 
 
 
53,978,999

 
 
 
 
 
 
 
 
 
BLACKROCK STRATEGIC COMPLETION NL FUND F
 
5619210
 
 
 
54,864,290

 
 
 
 
 
 
 
 
 
BLACKROCK US DEBT INDEX NON LENDABLE FD M
 
8236567
 
 
 
86,207,207

 
 
 
 
 
 
 
 
 
BLACKROCK US TIPS NON LENDABLE FD M
 
2288867
 
 
 
21,390,155

 
 
 
 
 
 
 
 
 
*WELLS FARGO/BLACKROCK STIF S
 
48582487
 
 
 
48,591,053

 
 
 
 
 
 
 
 
 
*NT COLLECTIVE AGGREGATE BOND INDEX FUND-NON LENDING
 
2198541
 
 
 
290,932,866

 
 
 
 
 
 
 
 
 
*NT COLLECTIVE EXTENDED EQUITY INDEX FD -NONLENDING
 
670313
 
 
 
155,285,280

 
 
 
 
 
 
 
 
 
*NT COLLECTIVE RUSSELL 1000 INDEX FUND - NON LENDING
 
7797664
 
 
 
170,324,384

 
 
 
 
 
 
 
 
 
*NT COLLECTIVE S&P500 INDEX FUND-DC-NON LENDING (TIER J)
 
50457
 
 
 
338,740,880

 
 
 
 
 
 
 
 
 
*NTGI COLTV GOVT STIF REGISTERED
 
3886449
 
 
 
3,886,449


See Report of Independent Registered Certified Public Accounting Firm
32









(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
 
(In Shares/Par Value Except
Notes Receivable from Participants)
 





(d)
Cost
 





(e)
Value

 
PRIN GLOBAL INVS COLTV INVT TR DIVERSIFIED INTL EQTY FD 50 BP FEE CL
 
1002166
 
 
 
217,911,049

 
 
 
 
 
 
 
 
 
*WELLS FARGO/BLACKROCK STIF N
 
153135119
 
 
 
153,135,119

 
Total Value of Interest in Common/Collective Trust Funds
 
 
 
 
 
$2,407,292,110
 
 
 
 
 
 
 
 
 
Value of Interest in Synthetic Guaranteed Investment Contracts
 
GALLIARD CAPITAL MANAGEMENT AMERICAN GENERAL LIFE INS. CO., #1629650
 
 
 
 
 

$112,716,808

 
GALLIARD CAPITAL MANAGEMENT PACIFIC LIFE INS. CO., #G-27236.01.0001
 
 
 
 
 
128,897,350

 
 
 
 
 
 
 
 
 
GALLIARD CAPITAL MANAGEMENT PRUDENTIAL LIFE INS. CO., #GA-62487
 
 
 
 
 
101,067,859

 
 
 
 
 
 
 
 
 
GALLIARD CAPITAL MANAGEMENT STATE STREET BANK AND TRUST, #105004
 
 
 
 
 
104,310,869

 
 
 
 
 
 
 
 
 
GALLIARD CAPITAL MANAGEMENT TRANSAMERICA PREMIER LIFE INS. CO., #MDA01077TR
 
 
 
 
 
123,694,734

 
 
 
 
 
 
 
 
 
PRUDENTIAL INS CO CONTRACT #GA-63366
 
 
 
 
 
68,225,405

 
Total Value of Interest in Synthetic Guaranteed Investment Contracts
 
 
 
 
 
$
638,913,025

 
 
 
 
 
 
 
 
 
Value of Interest in Notes Receivable from Participants
 
*PARTICIPANT LOAN ASSET-HARRIS CORP.
 
4.25% to 9.25% maturing through 2025
 
 
 
$
65,778,392

 
Total Value of Interest in Notes Receivable from Participants
 
 
 
 
 
$
65,778,392

 
 
 
 
 
 
 
 
 
GRAND TOTAL
 
 
 
 
 

$6,051,094,779

Note: Cost information has not been included in column (d) because all investments are participant-directed.
 

*
Party-in-interest to the Plan

See Report of Independent Registered Certified Public Accounting Firm
33



SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized.
 
 
 
Harris Corporation Retirement Plan
Employee Benefits Committee,
as Plan Administrator
 
 
By:
/s/    Adam Histed
 
 
Adam Histed, Chairperson
Date: June 27, 2016
 


34



EXHIBIT 23.1
CONSENT OF INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the registration statement on Form S-8 (No. 333-192735) of Harris Corporation of our report dated June 27, 2016, relating to the financial statements and supplemental schedule of the Harris Corporation Retirement Plan as of December 31, 2015 and 2014 and for the year ended December 31, 2015, which appears in this Form 11-K.
/s/ Carr, Riggs & Ingram, LLC
Melbourne, Florida
June 27, 2016