e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
|
|
|
þ |
|
Annual Report pursuant to Section 15(d) of the Securities Exchange Act of 1934 [Fee
Required] |
For the fiscal year ended June 30, 2007
OR
|
|
|
o |
|
Transition Report pursuant to Section 15(d) of the Securities Exchange Act of 1934 [No Fee
Required] |
For the transition period from ___to ___
Commission File Number 1-8703
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
WESTERN DIGITAL CORPORATION 401(K) PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
WESTERN DIGITAL CORPORATION
20511 Lake Forest Drive
Lake Forest, California 92630
TABLE OF CONTENTS
INTRODUCTION
Western Digital Corporation (the Company) has established the Western Digital Corporation
401(k) Plan (the Plan), formerly known as the Western Digital Corporation Retirement Savings and
Profit Sharing Plan. The Plan is intended to qualify under Section 401(a) of the Internal Revenue
Code of 1986, as amended (the Code) as a profit sharing plan and Section 401(k) of the Code as a
cash or deferred arrangement plan.
REQUIRED INFORMATION
I. |
|
Financial Statements: |
|
|
|
These statements are listed in the Index to the Financial Statements. |
|
II. |
|
Exhibits: |
|
|
|
Consent of Independent Registered Public Accounting Firm. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other
persons who administer the Plan) have duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
|
|
|
|
|
WESTERN DIGITAL CORPORATION 401(K) PLAN |
|
|
Date: December 21, 2007 |
By: |
/s/ TIMOTHY M. LEYDEN
|
|
|
|
Timothy M. Leyden |
|
|
|
Retirement, Severance,and Administrative
Committee Member |
|
3
WESTERN DIGITAL CORPORATION 401(K) PLAN
INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE
|
|
|
|
|
|
|
Page |
|
Report of Independent Registered Public Accounting Firm |
|
|
5 |
|
Statements of Net Assets Available for Plan Benefits as of June 30, 2007 and 2006 |
|
|
6 |
|
Statements of Changes in Net Assets Available for Plan Benefits for the years
ended June 30, 2007 and 2006 |
|
|
7 |
|
Notes to Financial Statements |
|
|
8 |
|
Supplemental Schedule |
|
|
|
|
Schedule H, Line 4i Schedule of Assets (Held at End of Year) at June 30, 2007 |
|
|
13 |
|
|
|
|
Note: |
|
Additional supplemental schedules have been omitted because they are not applicable or are
not required by 29 CFR 2520.103 10 of the Department of Labors Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as
amended. |
4
Report of Independent Registered Public Accounting Firm
Retirement, Severance, and Administrative Committee
Western Digital Corporation 401(k) Plan:
We have audited the accompanying statements of net assets available for plan benefits of the
Western Digital Corporation 401(k) Plan (the Plan) as of June 30, 2007 and 2006, and the related
statements of changes in net assets available for plan benefits for the years then ended, and the
supplemental schedule of schedule H, line 4i schedule of assets (held at end of year) as of June
30, 2007. These financial statements and supplemental schedule are the responsibility of the Plans
management. Our responsibility is to express an opinion on these financial statements based on our
audits.
We conducted our audits in accordance with the standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the net assets available for plan benefits of the Western Digital Corporation 401(k) Plan
as of June 30, 2007 and 2006, and the changes in net assets available for plan benefits for the
years then ended in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedule of schedule H, line 4i schedule of assets
(held at end of year) as of June 30, 2007 is presented for the purpose of additional analysis and
is not a required part of the basic financial statements but is supplementary information required
by the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. The supplemental schedule has been subjected to the
auditing procedures applied in the audits of the basic financial statements and, in our opinion, is
fairly stated in all material respects in relation to the basic financial statements taken as a
whole.
Los Angeles, California
December 21, 2007
5
WESTERN DIGITAL CORPORATION 401(K) PLAN
Statements of Net Assets Available for Plan Benefits
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
|
2007 |
|
|
2006 |
|
Assets |
|
|
|
|
|
|
|
|
Investments, at fair value |
|
$ |
250,702 |
|
|
$ |
215,465 |
|
Participant loans |
|
|
3,198 |
|
|
|
2,711 |
|
|
|
|
|
|
|
|
Total Investments |
|
|
253,900 |
|
|
|
218,176 |
|
Non-interest bearing cash |
|
|
24 |
|
|
|
85 |
|
|
|
|
|
|
|
|
Net assets available for Plan benefits, at fair value |
|
|
253,924 |
|
|
|
218,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
|
|
658 |
|
|
|
903 |
|
|
|
|
|
|
|
|
Net assets available for Plan benefits |
|
$ |
254,582 |
|
|
$ |
219,164 |
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
6
WESTERN DIGITAL CORPORATION 401(K) PLAN
Statements of Changes in Net Assets Available for Plan Benefits
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
Year ended June 30, |
|
|
|
2007 |
|
|
2006 |
|
Additions to net assets attributable to: |
|
|
|
|
|
|
|
|
Contributions: |
|
|
|
|
|
|
|
|
Participant |
|
$ |
21,019 |
|
|
$ |
19,669 |
|
Employer |
|
|
3,829 |
|
|
|
3,566 |
|
|
|
|
|
|
|
|
Total contributions |
|
|
24,848 |
|
|
|
23,235 |
|
|
|
|
|
|
|
|
Investment income (expense): |
|
|
|
|
|
|
|
|
Net appreciation in fair value of investments |
|
|
20,561 |
|
|
|
11,740 |
|
Dividend income |
|
|
7,766 |
|
|
|
11,116 |
|
Interest income |
|
|
198 |
|
|
|
153 |
|
Other expense |
|
|
(236 |
) |
|
|
(61 |
) |
|
|
|
|
|
|
|
Total investment income |
|
|
28,289 |
|
|
|
22,948 |
|
|
|
|
|
|
|
|
Deductions from net assets attributable to: |
|
|
|
|
|
|
|
|
Participant distributions paid |
|
|
(17,719 |
) |
|
|
(10,847 |
) |
|
|
|
|
|
|
|
Net increase in net assets available for Plan benefits |
|
|
35,418 |
|
|
|
35,336 |
|
Net assets available for Plan benefits: |
|
|
|
|
|
|
|
|
Beginning of year |
|
|
219,164 |
|
|
|
183,828 |
|
|
|
|
|
|
|
|
End of year |
|
$ |
254,582 |
|
|
$ |
219,164 |
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
7
WESTERN DIGITAL CORPORATION 401(K) PLAN
Notes to Financial Statements
June 30, 2007 and 2006
(1) Description of the Plan
General
The following description of the Plan provides only general information. Participants
should refer to the Plan document for a more complete description of the Plans provisions. The
Plan is a defined contribution plan as defined by the Employee Retirement Income Security Act of
1974 (ERISA).
Administration of the Plan
The Retirement, Severance, and Administrative Committee (the Committee), appointed by the
Board of Directors and consisting of at least three members, has the authority to control and
manage the operation and administration of the Plan. The Plan assets
are held under a trust for which T. Rowe Price Trust Company acts as
trustee and are administered under a trust agreement, which requires
that the trustee hold, administer, and distribute the funds of the
Plan in accordance with the text of the Plan and the instructions of
the Committee or its designees. The compensation or fees of accountants,
counsel and other specialists and any other costs of administering the Plan or the trust are
paid by the Company or charged to the trust at the discretion of the Company. Administrative
expenses that are not paid by the Company are paid by the Plan.
Contributions
U.S. based employees of the Company, who meet the Plans eligibility criteria, are eligible
to participate in the Plan and to receive employer matching contributions. During 2007 and 2006,
eligible employees were able to contribute up to 30% of their compensation on a pretax basis
provided that contributions did not exceed Internal Revenue Service
(IRS) limitations. In addition, effective July 1, 2002,
the Plan was amended by the Company to allow employees who have attained age fifty before the
close of a Plan year to make a catch up contribution. The amount of the catch up contribution is
subject to IRS limitations and is not eligible for matching contributions under the Plan. The
Plan was also amended to allow the Company to make contributions equal to 50% of pretax
participant contributions to the Plan, up to a maximum matching contribution of $2,000 for any
calendar year. The Company may also make additional contributions at its discretion. During 2007
and 2006, the Company did not make any discretionary contributions to the Plan. The Company may
suspend matching contributions when it does not have sufficient net profits to make the
applicable matching contribution. Contributions, including the
Companys matching contribution to the Plan, are
recorded as soon as administratively possible after the Company makes payroll deductions from
Plan participants.
Investments
As of June 30, 2007 and 2006, the Plan had 27 and 25 investment options, respectively,
available to eligible participants in the Plan. As of June 30, 2007 and 2006, all of the Plans
assets were invested in mutual funds, common collective trust funds
(CCTs), Western Digital common
stock, publicly traded equity investments or participant loans. Subject to certain limits,
participants may transfer all or a portion of the balance in their accounts between investment
funds on a daily basis. Participants may also transfer up to a maximum of 25% of their overall
plan balance, less any outstanding loan amounts, to the Tradelink
Investment account, which is a
self-directed brokerage account that offers discount brokerage services for securities not
offered under the Plan. The self-directed brokerage account allows plan participants to invest
in various common stock and mutual funds.
Participant Loans
Loans can be made to a participant at a minimum of $1,000 and up to an amount equal to the
lesser of: $50,000 reduced by the participants highest outstanding balance during the preceding
12 months or 50% of a participants vested account balance. The loans bear interest at a rate
fixed at the time of the loan equal to 1% above the current prime rate published by T. Rowe
Price Trust Company and are generally payable in installments over periods ranging from one to
five years, unless the loan is used for the purchase of a primary residence, in which case the
repayment period may be up to ten years. Principal and interest payments are allocated to the
participants accounts in the same manner as their current contributions. The Plan allows
participants to have no more than two active loans at a time. The annual interest rate charged
on employee loans during 2007 and 2006 ranged from 5.0% to 10.0%.
8
WESTERN DIGITAL CORPORATION 401(K) PLAN
Notes to Financial Statements (continued)
Participant Accounts
A separate account is maintained for each participant in each designated fund. Each account
is adjusted for contributions and net investment income or loss on a daily basis. Net investment
income or loss is allocated to the accounts in the same proportion as the participants
beginning account balance invested in the fund (as defined in the Plan) bears to the total of
all participants beginning account balances invested in the fund.
Payment of Benefits and Forfeitures
Upon termination of service, participants may receive a lump-sum payment in cash and/or
shares of the Companys common stock. The nonvested portion of terminated participants accounts
is forfeited subject to a five-year reinstatement period. Plan forfeitures not needed to restore
forfeited matching contributions are used to pay Plan expenses or used by the Company to reduce
employer contributions. During 2007, Plan forfeitures totaling approximately $344,000 were used
to reduce employer contributions, compared to 2006 in which approximately $98,000 were used to
reduce employer contributions. Unallocated forfeitures at June 30, 2007 and 2006 were not
significant to the financial statements.
Certain restrictions apply to withdrawals of amounts from the Plan while a participant
continues to be employed by the Company.
Vesting
Participants are at all times one hundred percent vested in the value of their voluntary
contributions and the Companys profit sharing contributions. A participant vests 20% in
employer contributions after one year of service and 20% annually thereafter (as defined in the
Plan), or upon retirement (at normal retirement age), permanent disability or death.
Plan Amendments
Effective April 1, 2006, the Plan was amended to allow salary reduction contributions to be
automatically withheld from an eligible employees compensation beginning 30 days following an
eligible employees employment commencement date. The automatic contribution is set at 3% of the
eligible employees compensation for each payroll period, unless the employee elects a different
percentage. Such contributions are treated as pre-tax contributions for all purposes under the
Plan, including, but not limited to provisions relating to matching contributions by the
Company.
(2) Summary of Significant Accounting Policies
Basis of Presentation
The accompanying financial statements of the Plan have been prepared on an accrual basis of
accounting and present the net assets available for Plan benefits as of June 30, 2007 and 2006
and changes in net assets available for Plan benefits for the years ended June 30, 2007 and
2006. Unless otherwise indicated, references to specific years are to the Plans fiscal year.
Valuation of Investments and Income Recognition
Investments in common stock traded on national securities exchanges are valued at current
market values, determined through reference to public market information on the last business
day of the Plans fiscal year. Securities not traded on the last business day are valued at the
last reported bid price. Investments in mutual funds are reported at fair market value.
Investments in common collective trust funds (CCTs) are stated at estimated fair values, which
have been determined based on the unit values of the CCTs. Unit values are determined by the
bank sponsoring such CCTs by dividing the funds net assets at fair value by its units
outstanding at the valuation dates. Purchases and sales of securities are recorded on a
trade-date basis. Participant loans are carried at their outstanding balance, which approximates
fair market value. Interest income is recorded on an accrual basis. Dividend income is recorded
on the ex-dividend date.
9
WESTERN DIGITAL CORPORATION 401(K) PLAN
Notes to Financial Statements (continued)
The
T. Rowe Price Stable Value Fund invests in a variety of investment
contracts such as traditional guaranteed investment contracts (GICs)
issued by insurance companies and other financial institutions and
other investment products with similar characteristics. As described in Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP
94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment
Companies Subject to the AICPA Investment Company Guide and Defined Contribution Health and
Welfare and Pension Plans (the FSP), investment contracts held by a defined contribution plan are
required to be reported at fair value. However, contract value is the relevant measurement
attribute for that portion of the net assets available for benefits of a defined contribution
plan attributable to fully benefit-responsive investment contracts because contract value is the
amount participants would receive if they were to initiate permitted transactions under the terms
of the plan. As required by the FSP, the statement of net assets available for benefits presents
the fair value of the investment contracts from fair value to contract value. Prior year balances
have been reclassified accordingly. The statement of changes in net assets available for benefits
is prepared on a contract value basis.
Payment of Benefits
Benefits are recorded when paid. At June 30, 2007 and 2006, there were no amounts allocated
to accounts of persons who had elected to withdraw from the Plan, but had not been paid at that
date.
Reclassifications
Certain reclassifications have been made to the 2006 financial statements to conform to the
2007 financial statement presentation.
Use of Estimates
The preparation of the financial statements in conformity with U.S. generally accepted
accounting principles requires management to make estimates and assumptions that affect reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of additions and deductions during the
reporting period. Actual results could differ from those estimates.
10
WESTERN DIGITAL CORPORATION 401(K) PLAN
Notes to Financial Statements (continued)
(3) Investments
The following presents the Plans investments as of June 30, 2007 and 2006, with individual
investments that represent 5% or more of the Plans net assets, separately identified (in
thousands):
|
|
|
|
|
|
|
|
|
|
|
2007 |
|
|
2006 |
|
Common Stock Fund: |
|
|
|
|
|
|
|
|
Western Digital Stock Fund |
|
$ |
25,248 |
|
|
$ |
28,012 |
|
Mutual Funds: |
|
|
|
|
|
|
|
|
Equity Income Fund |
|
|
21,961 |
|
|
|
15,838 |
|
Magellan Fund |
|
|
- |
* |
|
|
22,666 |
|
International Stock Fund |
|
|
16,677 |
|
|
|
11,536 |
|
Mid-Cap Growth Fund |
|
|
20,899 |
|
|
|
17,322 |
|
Science & Technology Fund |
|
|
12,972 |
|
|
|
11,108 |
|
Small-Cap Value Fund |
|
|
23,552 |
|
|
|
20,245 |
|
Common Collective Trust Funds: |
|
|
|
|
|
|
|
|
Equity Index Trust |
|
|
40,774 |
|
|
|
17,859 |
|
Stable Value Fund |
|
|
42,993 |
|
|
|
40,781 |
|
All investments less than 5% of Plan Assets |
|
|
48,824 |
|
|
|
32,809 |
|
|
|
|
|
|
|
|
Total Investments |
|
$ |
253,900 |
|
|
$ |
218,176 |
|
|
|
|
|
|
|
|
|
|
|
* |
|
This amount represents less than 5% of the Plans net assets during the respective
year, presented for comparative purposes. |
During 2007 and 2006, the Plans investments, including gains and losses on investments
bought and sold as well as held during the year, appreciated (depreciated) in value as follows
(in thousands):
|
|
|
|
|
|
|
|
|
|
|
2007 |
|
|
2006 |
|
Common Stock Fund |
|
$ |
(322 |
) |
|
$ |
10,477 |
|
Mutual Funds |
|
|
13,714 |
|
|
|
(1,693 |
) |
Common Collective Trust Funds |
|
|
7,169 |
|
|
|
2,956 |
|
|
|
|
|
|
|
|
|
|
$ |
20,561 |
|
|
$ |
11,740 |
|
|
|
|
|
|
|
|
(4) Profit Sharing Feature
The Company adopted an annual profit sharing feature effective as of the beginning of the
Companys 1992 fiscal year. All eligible domestic employees of the Company who are employed on
the last day of the Companys fiscal year are eligible to participate in the profit sharing
component. The amount of profit sharing paid to participants, which is granted at the discretion
of the Company, is dependent upon their eligible compensation earned during the fiscal year. If
approved, a portion of each eligible participants allocation of the Companys profit sharing
contribution is deposited into an individual profit sharing account established under the Plan
and the excess allocable to such participant, if any, is paid as a fiscal year-end cash bonus.
Benefits are generally payable following retirement, disability, death, hardship or termination
of employment. During 2007 and 2006, the Company made no profit sharing contributions to the
Plan.
(5) Party-In-Interest Transactions
Certain investments in mutual funds, investments within the Tradelink Investment account
and assets held in a non-discretionary trust within the Plan are managed by T. Rowe Price Trust
Company, the Plan trustee. Purchases and sales involving these investment options are performed
in the open market at fair value and qualify as party-in-interest transactions. Such
transactions, while considered party-in-interest transactions under ERISA, are permitted under
the provisions of the Plan and are specifically exempt from the prohibition of party-in-interest
transactions under ERISA. The Plan paid approximately $122,000 and $90,000 to T. Rowe Price
Trust Company in fees and expenses for the years ended June 30, 2007 and 2006, respectively.
11
WESTERN DIGITAL CORPORATION 401(K) PLAN
Notes to Financial Statements (continued)
(6) 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 fully vested in their
employer contributions.
(7) Tax Status
The Internal Revenue Service has determined and informed the Company by letter, dated
September 25, 2002, that the Plan and related trust are designed in accordance with the
applicable sections of the Internal Revenue Code (IRC). Although the Plan has been amended since
receiving the determination letter, the Plan Administrator and the Plans tax counsel believe
that the Plan is designed and currently being operated in compliance with the applicable
requirements of the IRC. Therefore, no provision for income taxes has been included in the
Plans financial statements.
(8) Risks and Uncertainties
The Plan invests in various types of investment securities, including mutual funds,
actively managed funds, common collective trust funds and Western Digital Corporation common
stock. 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 securities will occur in the
near term, and that such changes could materially affect the amounts reported in the statements
of net assets available for plan benefits.
Additionally, certain mutual funds offered by the Plan invest in the securities of foreign
companies, which involve special risks and considerations not typically associated with
investing in U.S. companies. These risks include devaluation of currencies, less reliable
information about issuers, different securities transaction clearance and settlement practices,
and possible adverse political and economic developments. Moreover, securities of many foreign
companies and their markets may be less liquid and their prices more volatile than similar types
of securities of comparable U.S. companies.
As of June 30, 2007 and 2006, approximately 10% and 13%, respectively, of total Plan
investments were invested in Western Digital Corporation common stock.
(9) Reconciliation of the Financial Statements to the Form 5500
The following is a reconciliation of net assets available for benefits per the financial
statements to the Form 5500 as of and for the year ended June 30, 2007:
|
|
|
|
|
Net assets available for benefits per the financial statements |
|
$ |
254,582 |
|
Adjustment from fair value to contract value for fully benefit-responsive
Investment contracts |
|
|
(658 |
) |
|
|
|
|
Net assets available for benefits per the Form 5500 |
|
$ |
253,924 |
|
|
|
|
|
The following is a reconciliation of increase in net assets available for benefits per the
financial statements to the Form 5500:
|
|
|
|
|
Total increase in net assets available for benefits per the financial statements |
|
$ |
35,418 |
|
Adjustment from fair value to contract value for fully benefit-responsive
Investment contracts |
|
|
(658 |
) |
|
|
|
|
Total increase in net assets available for benefits per the Form 5500 |
|
$ |
34,760 |
|
|
|
|
|
12
WESTERN DIGITAL CORPORATION 401(K) PLAN
Schedule H, Line 4i Schedule of Assets (Held at End of Year)
June 30, 2007
(in thousands**)
|
|
|
|
|
|
|
|
|
|
|
Identity of Issue, Borrower, Lessor |
|
Description of Investment, |
|
Current |
|
|
|
|
or Similar Party |
|
Including Collateral or Par Value |
|
Value |
|
|
Cost |
|
Common stock: |
|
|
|
|
|
|
|
|
|
|
* Western Digital Corporation |
|
1,305 shares common stock, $.01 par value |
|
$ |
25,248 |
|
|
$ |
16,884 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds: |
|
|
|
|
|
|
|
|
|
|
Bond funds: |
|
|
|
|
|
|
|
|
|
|
Pacific Investment
Management Company |
|
1,088 shares PIMCO Total Return II Mutual Fund |
|
|
10,468 |
|
|
|
11,024 |
|
Pacific Investment
Management Company |
|
603 shares PIMCO High Yield Fund |
|
|
5,893 |
|
|
|
5,886 |
|
|
|
|
|
|
|
|
|
|
|
|
Stock funds: |
|
|
|
|
|
|
|
|
|
|
* T. Rowe Price Trust Company |
|
556 shares T. Rowe Price Science & Technology Mutual Fund |
|
|
12,972 |
|
|
|
15,091 |
|
* T. Rowe Price Trust Company |
|
702 shares T. Rowe Price Equity Income Mutual Fund |
|
|
21,961 |
|
|
|
18,334 |
|
* T. Rowe Price Trust Company |
|
527 shares T. Rowe Price Small-Cap Value Mutual Fund |
|
|
23,552 |
|
|
|
17,484 |
|
* T. Rowe Price Trust Company |
|
338 shares T. Rowe Price Mid-Cap Growth Mutual Fund |
|
|
20,899 |
|
|
|
16,986 |
|
* T. Rowe Price Trust Company |
|
913 shares T. Rowe Price International Stock Mutual Fund |
|
|
16,677 |
|
|
|
13,760 |
|
* T. Rowe Price Trust Company |
|
29 shares Retirement Income Fund |
|
|
389 |
|
|
|
378 |
|
* T. Rowe Price Trust Company |
|
20 shares Retirement 2005 Fund |
|
|
240 |
|
|
|
227 |
|
* T. Rowe Price Trust Company |
|
128 shares Retirement 2010 Fund |
|
|
2,149 |
|
|
|
2,006 |
|
* T. Rowe Price Trust Company |
|
135 shares Retirement 2015 Fund |
|
|
1,786 |
|
|
|
1,695 |
|
* T. Rowe Price Trust Company |
|
263 shares Retirement 2020 Fund |
|
|
4,900 |
|
|
|
4,577 |
|
* T. Rowe Price Trust Company |
|
150 shares Retirement 2025 Fund |
|
|
2,085 |
|
|
|
1,929 |
|
* T. Rowe Price Trust Company |
|
105 shares Retirement 2030 Fund |
|
|
2,108 |
|
|
|
1,934 |
|
* T. Rowe Price Trust Company |
|
54 shares Retirement 2035 Fund |
|
|
768 |
|
|
|
714 |
|
* T. Rowe Price Trust Company |
|
54 shares Retirement 2040 Fund |
|
|
1,093 |
|
|
|
1,015 |
|
* T. Rowe Price Trust Company |
|
39 shares Retirement 2045 Fund |
|
|
526 |
|
|
|
480 |
|
* T. Rowe Price Trust Company |
|
1 share Retirement 2050 Fund |
|
|
16 |
|
|
|
15 |
|
* T. Rowe Price Trust Company |
|
2 shares Retirement 2055 Fund |
|
|
26 |
|
|
|
26 |
|
Wells Fargo |
|
141 shares Wells Fargo Large Company Growth Mutual Fund |
|
|
7,532 |
|
|
|
6,418 |
|
Wasatch Funds |
|
170 shares Wasatch Ultra Growth Fund |
|
|
4,323 |
|
|
|
4,212 |
|
Domini Social Equity Fund |
|
28 shares Domini Social Equity Fund |
|
|
1,001 |
|
|
|
868 |
|
|
|
|
|
|
|
|
|
|
Total mutual funds |
|
|
|
|
141,364 |
|
|
|
125,059 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
Collective Trust Fund: |
|
|
|
|
|
|
|
|
|
|
* T. Rowe Price Trust Company |
|
43,651 shares T. Rowe Price Stable Value Fund |
|
|
42,993 |
|
|
|
43,651 |
|
* T. Rowe Price Trust Company |
|
921 shares T. Rowe Price Equity Index Trust |
|
|
40,774 |
|
|
|
33,583 |
|
|
|
|
|
|
|
|
|
|
Total common trust fund |
|
|
|
|
83,767 |
|
|
|
77,234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other: |
|
|
|
|
|
|
|
|
|
|
* Tradelink Investments |
|
Various publicly traded equity investments |
|
|
323 |
|
|
|
323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Participant Loans |
|
499 participant loans with various maturities; |
|
|
|
|
|
|
|
|
|
|
interest rates range from 5.0% to 10.0%; balances |
|
|
|
|
|
|
|
|
|
|
collateralized by participant accounts |
|
|
3,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
253,900 |
|
|
$ |
219,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Party-in-interest. |
|
** |
|
Except for par value and number of participant loans. |
See accompanying report of independent registered public accounting firm.
13
WESTERN DIGITAL CORPORATION 401(K) PLAN
INDEX TO EXHIBITS
|
|
|
|
|
|
|
|
|
Sequentially |
Exhibit |
|
Description |
|
Numbered Page |
23
|
|
Consent of Independent Registered Public Accounting Firm
|
|
15 |
14