FORM 11-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
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þ |
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the plan year ended December 31, 2008
or
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o |
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period
from to
Commission file number 1-12084
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A. |
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Full title of the plan and the address of the plan, if different from that of the issuer named below: |
AMENDED AND RESTATED LIBBEY INC. SUPPLEMENTAL RETIREMENT PLAN
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
LIBBEY INC.
300 Madison Ave.
Toledo, Ohio 43604
REQUIRED INFORMATION
Financial Statements and Exhibits as follows:
1. Financial statements
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Report of Independent Registered Public Accounting Firm |
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Statements of Net Assets Available for Benefits as of December 31, 2008, and December 31, 2007 |
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Statements of Changes in Net Assets Available for Benefits for years ended December 31, 2008
and December 31, 2007 |
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Notes to Financial Statements |
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Supplemental Schedule |
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H, Line 4i Schedule of Assets (Held at End of Year) |
2. Exhibits
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(23) |
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Consent of Independent Registered Public Accounting Firm |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrator of
the Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
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AMENDED AND RESTATED LIBBEY INC. |
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SUPPLEMENTAL RETIREMENT PLAN |
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Dated: June 25, 2009
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Libbey Inc. |
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Employee Benefits Committee |
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Plan Administrator |
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By:
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/s/ Timothy T. Paige
Timothy T. Paige
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Chairman |
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Employee Benefits Committee |
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By:
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/s/ Gregory T. Geswein
Gregory T. Geswein
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Vice President and Chief Financial |
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Officer of Libbey Inc. |
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Audited Financial Statements and
Supplemental Schedule
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Years Ended December 31, 2008 and 2007
With Report of Independent Registered Public Accounting Firm
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Audited Financial Statements and Supplemental Schedule
Years Ended December 31, 2008 and 2007
Contents
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Report
of Independent Registered Public Accounting Firm |
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1 |
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Audited Financial Statements |
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Statements
of Net Assets Available for Benefits |
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2 |
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Statements
of Changes in Net Assets Available for Benefits |
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3 |
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Notes
to Financial Statements |
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4 |
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Supplemental Schedule |
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Schedule H,
Line 4i Schedule of Assets (Held at End of Year) |
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13 |
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EX-23 |
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Report of Independent Registered Public Accounting Firm
The Libbey Inc. Employee Benefits Committee
Amended and Restated Libbey Inc. Supplemental Retirement Plan
We have audited the accompanying statements of net assets available for benefits of the Amended and
Restated Libbey Inc. Supplemental Retirement Plan as of December 31, 2008 and 2007, and the related
statements of changes in net assets available for benefits for the years then ended. These
financial statements are the responsibility of the Plans management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. We
were not engaged to perform an audit of the Plans 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 Plans internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and 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 Plan at December 31, 2008 and 2007, and the
changes in its net assets available for 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 financial statements taken
as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December
31, 2008, is presented for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the Department of Labors Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This supplemental schedule is the responsibility of the Plans management. The supplemental
schedule has been subjected to the auditing procedures applied in our audits of the financial
statements and, in our opinion, is fairly stated in all material respects in relation to the
financial statements taken as a whole.
Toledo, Ohio
June 18, 2009
1
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Statements of Net Assets Available for Benefits
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December 31 |
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2008 |
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2007 |
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Assets |
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Investments, at fair value (Note 4) |
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$ |
25,589,674 |
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$ |
43,099,299 |
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Net assets available for benefits, at fair value |
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25,589,674 |
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43,099,299 |
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Adjustment from fair value to contract value for
fully benefit-responsive investment contracts (Note 5) |
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761,314 |
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160,106 |
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Net assets available for benefits |
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$ |
26,350,988 |
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$ |
43,259,405 |
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See accompanying notes.
2
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Statements of Changes in Net Assets Available for Benefits
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Year Ended December 31 |
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2008 |
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2007 |
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Additions |
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Investment income: |
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Interest and dividends |
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$ |
298,355 |
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$ |
269,075 |
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Contributions: |
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Participants |
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2,744,304 |
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2,978,651 |
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Employer |
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1,052,363 |
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1,120,889 |
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3,796,667 |
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4,099,540 |
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Total additions |
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4,095,022 |
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4,368,615 |
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Deductions |
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Participant withdrawals or benefits paid directly
to participants |
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(2,974,193 |
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(2,507,819 |
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Net transfer to Libbey Inc. Retirement Savings Plan |
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(40,454 |
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(324,584 |
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Other |
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(12,740 |
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(13,969 |
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Total deductions |
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(3,027,387 |
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(2,846,372 |
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Net (depreciation) appreciation in fair
value of investments (Note 4) |
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(17,976,052 |
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5,205,229 |
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Net (decrease) increase |
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(16,908,417 |
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6,727,472 |
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Net assets available for benefits: |
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Beginning of year |
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43,259,405 |
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36,531,933 |
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End of year |
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$ |
26,350,988 |
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$ |
43,259,405 |
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See accompanying notes.
3
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements
December 31, 2008
1. Description of Plan
General
The Amended and Restated Libbey Inc. Supplemental Retirement Plan (the Plan) was adopted by Libbey
Inc. (the Company) for the benefit of eligible union hourly employees. The Plan was Amended and
Restated on January 1, 2008.
The Plan is a defined contribution plan which provides eligible employees, upon completion of a
probationary period, the opportunity to make pretax and/or after tax contributions, in specific
percentages, within guidelines established by the Libbey Inc. Employee Benefits Committee (the
Committee). Participant contributions are limited to 20% for Syracuse China Employees and 25% for
Libbey Glass Union employees of the eligible compensation and are 100% vested immediately. The
Syracuse China plant ceased production in April, 2009. Contributions may be divided at the
participants discretion among the various investment options from 1% to 100%, with no limit on the
number of options selected. A participant may elect to change the percentage of annual compensation
to be contributed and any such changes shall be effective as soon as administratively feasible.
The benefit to which a participant is entitled is the benefit that can be provided from the value
of the participants account.
The Company contributes to the Plan on behalf of each participant an amount equal to fifty percent
(50%) of the participants contributions, not to exceed three percent (3%) of the participants
eligible compensation. Effective January 1, 2008, company matching contributions are allocated to
investments based on the participants deferral elections. Company matching contributions are
immediately 100% vested.
Within certain limitations, a participant may also transfer into the Plan a rollover contribution
from another qualified plan.
Participants may transfer existing fund balances among the various investment funds daily.
The above information is intended as a general description of the Plans operating guidelines.
Reference should be made to the Plan document for more specific provisions, including benefit
payments.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to
terminate the Plan subject to the provisions of Employee Retirement Income Security Act of
4
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
1974 (ERISA). Upon termination, the entire interest of each participants account is distributed to
the participants.
Trusteed Assets
For the years ended December 31, 2008 and 2007, all of the assets of the Plan were held by the
Trustee, JP Morgan Chase Bank.
2. Summary of Accounting Policies
Investment Valuation and Income Recognition
The Plans investments are stated at fair value. Shares of registered investment companies and
common stock are valued based on quoted market prices which represent the net asset value of shares
held by the Plan at year-end. Common collective trusts contain investments in equity and bond
funds, treasury notes and bond contracts. The fair value of the participation units in common
collective trusts are based on quoted redemption values on the last business day of the Plans
year-end. Participant loans are valued at their outstanding balances, which approximate fair value.
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. The Plan
has entered into fully benefit-responsive synthetic guaranteed investment contracts (synthetic
GICs) through the JP Morgan Stable Value Fund. As required by the FSP, the statements of net assets
available for benefits present the fair value of the fully benefit-responsive investment contracts
and the adjustment from fair value to contract value for fully benefit-responsive investment
contracts. The underlying investments of the synthetic GICs are valued at quoted redemption values
on the last business day of the Plans year-end. The fair value of the wrap contracts for the
synthetic GICs is determined using the market approach discounting methodology that incorporates
the difference between current market level rates for contract level wrap fees and the wrap fee
being charged. The difference is calculated as a dollar value and discounted by the prevailing
interpolated swap rate as of period end. The contract value of the fully benefit-responsive
investment contracts represents contributions plus earnings, less participant withdrawals and
administrative expenses.
5
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
Purchases and sales of securities are recorded on a trade date basis. Dividends are recorded on the
ex-dividend date.
Plan Expenses
Substantially all Plan administrative expenses are paid by the Company.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates and assumptions that affect the reported amounts
in the financial statements and accompanying notes. Actual results could differ from those
estimates.
New Accounting Standards
In September 2006, the Financial Accounting Standards Board issued Statement on Financial
Accounting Standards No. 157 (SFAS 157), Fair Value Measurement. This standard clarifies the
definition of fair value for financial reporting, establishes a framework for measuring fair value,
and requires additional disclosures about the use of fair value measurements. The Plan adopted SFAS
157 on January 1, 2008. Refer to note 3 for disclosures provided for fair value measurements of
plan investments.
3. Fair Value Measurements
The Plan adopted SFAS 157 as of January 1, 2008. The adoption of SFAS 157 did not have a material
impact on the Plans fair value measurements. SFAS 157 defines fair value as the price that would
be received to sell an asset or paid to transfer a liability in the principal or most advantageous
market for the asset or liability in an orderly transaction between market participants at the
measurement date. SFAS 157 establishes a fair value hierarchy, which prioritizes the inputs used in
measuring fair value into three broad levels as follows:
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Level 1 Quoted prices in active markets for identical assets or liabilities. |
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Level 2 Inputs, other than the quoted prices in active markets, that are
observable either directly or indirectly. |
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Level 3 Unobservable inputs based on our own assumptions. |
6
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
Investments measured at Fair Value on a recurring basis
Investments measured at fair value on a recurring basis consisted of the following types of
instruments as of December 31, 2008 (Level 1, 2 and 3 inputs are defined above):
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Fair Value Measurements Using Input Type |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Investments: |
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Registered investment companies |
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$ |
15,481,037 |
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$ |
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$ |
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$ |
15,481,037 |
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Common stock |
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1,372,119 |
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1,372,119 |
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Common / collective trusts |
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5,838,270 |
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5,838,270 |
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U.S. Treasuries & wrapped bonds |
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27,936 |
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7,802 |
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35,738 |
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Participant loans |
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2,862,510 |
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2,862,510 |
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Total investments measured at
fair value |
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$ |
16,853,156 |
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$ |
5,866,206 |
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$ |
2,870,312 |
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$ |
25,589,674 |
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The Plans valuation methodologies used to measure the fair values of investments with registered
investment companies and common stock were derived from quoted market prices as all of these equity
instruments have active markets. The value for U.S. Treasuries is derived from observable market
data. The common collective trusts are not available on an exchange or active market, however, the
fair value is determined based on the underlying investments (primarily debt and equity securities
as well as mortgage backed securities) which are traded on an exchange and active market. The
wrapped bonds represent synthetic GICs as discussed in note 2. The fair value of these contracts
is calculated by projecting, over the duration of the contract, the difference between replacement
cost and actual cost, and discounting back to the measurement date at an appropriate discount rate.
For further discussion of the synthetic guaranteed investment contracts, see Note 5. The
participant loans, all of which are secured by the account balances of borrowing participants, are
included at their carrying values in the statements of net assets available for benefits, which
approximated their fair values at December 31, 2008. See note 6 for additional discussion regarding
participant loans.
The table below shows a summary of changes in the fair value of the Plans level 3 assets for the
year ended December 31, 2008:
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Level 3 Assets |
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Participant Loans |
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Wrapped Bonds |
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Balance as of January 1, 2008 |
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$ |
3,024,149 |
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$ |
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Net appreciation in fair value of investments |
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7,802 |
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Issuance, repayments and settlements, net |
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(161,639 |
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Balance as of December 31, 2008 |
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$ |
2,862,510 |
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$ |
7,802 |
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7
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
4. Investments
Investments whose fair value represents 5% or more of the fair value of the Plans net assets are
as follows:
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December 31 |
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2008 |
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2007 |
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JP Morgan Intermediate Bond Fund* |
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$ |
5,045,318 |
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$ |
5,621,987 |
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Harbor International Fund* |
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3,299,260 |
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6,512,431 |
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Participant Loans* |
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2,862,510 |
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3,024,149 |
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Harbor Bond Fund* |
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2,698,299 |
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2,549,142 |
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Harbor Capital Appreciation Fund* |
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2,498,972 |
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4,006,797 |
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Libbey Common Stock* |
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1,372,119 |
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9,556,799 |
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The fund is sponsored by the Plan Trustee or represents a party in interest. |
During 2008 and 2007, the Plans investments (including investments bought, sold, as well as held
during the year) (depreciated) appreciated in fair value as follows:
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December 31 |
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2008 |
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2007 |
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Registered investment companies |
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$ |
(7,172,250 |
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$ |
2,299,052 |
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Common/collective trusts |
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(135,953 |
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296,768 |
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Common stock |
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(10,667,849 |
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2,609,409 |
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$ |
(17,976,052 |
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$ |
5,205,229 |
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5. Synthetic Guaranteed Investment Contracts
The Plan invests in synthetic GICs which are wrap contracts paired with an underlying portfolio of
investments owned by the Plan, of high quality, intermediate term fixed income securities. The Plan
purchases wrapper contracts from financial services institutions. Synthetic GICs credit a stated
interest rate for a specified period of time. Investment gains and losses are amortized over the
expected duration through the calculation of the interest rate applicable to the Plan on a
prospective basis. Synthetic GICs provide for a variable crediting rate, which typically resets at
least quarterly, and the issuer of the wrap contract provides assurance that future adjustments to
the crediting rate cannot result in a crediting rate less than zero. The crediting rate is
primarily based on the current yield-to-maturity of the covered investments, plus or minus
amortization of the difference between the market value and contract value of the covered
investments over the
8
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
duration of the covered investments at the time of computation. The crediting rate is most affected
by the change in the annual effective yield to maturity of the underlying securities, but is also
affected by the difference between the contract value and the market value of the covered
investments. This difference is amortized over the duration of the covered investments. Depending
on the change in duration from reset period to reset period, the magnitude of the impact to the
crediting rate of the contract to market difference is heightened or lessened. The crediting rate
can be adjusted periodically and is usually adjusted either monthly or quarterly, but in no event
is the crediting rate less than zero percent.
Certain events limit the ability of the Plan to transact at contract value with the insurance
company and the financial institution issuer. Such events include (1) amendments to the plan
documents (including complete or partial plan termination or merger with another plan), (2) changes
to the Plans prohibition on competing investment options or deletion of equity wash provisions,
(3) bankruptcy of the plan sponsor or other plan sponsor events (for example, divestitures or
spin-offs of a subsidiary) that cause a significant withdrawal from the Plan, or (4) the failure of
the trust to qualify for exemption from federal income taxes or any required prohibited transaction
exemption under ERISA. The plan administrator does not believe that the occurrence of any such
events that would limit the Plans ability to transact at contract value with participants is
probable.
Wrap contracts are evergreen contracts that contain termination provisions. Wrap agreements permit
the Funds investment manager to terminate upon notice at any time at market value and provide for
automatic termination of the wrap contract if the contract value or market value of the contract
equals zero. The issuer is not excused from paying the excess contract value when the market value
equals zero. Wrap contracts permit the issuer to terminate at market value and provide that the
Fund may elect to convert such termination to an amortized election that effectively will immunize
the Fund intending to result in contract value equaling market value of the underlying assets by
such termination date. If an event of default occurs and is not cured, the nondefaulting party may
terminate the contract. The following may cause the Plan to be in default:
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A breach of material obligation under the contract |
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A material misrepresentation |
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A material amendment to the plan agreement |
The issuer may be in default if it breaches a material obligation under the investment contract,
makes a material misrepresentation, has a decline in its long-term credit rating below a threshold
set forth in the contract, or is acquired or reorganized and the successor issuer does not satisfy
the investment or credit guidelines applicable to issuers. If, in the event of default of an
issuer, the Plan were unable to obtain a replacement investment contract, withdrawing participants
may
9
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
experience losses if the value of the Plans assets no longer covered by the contract is below
contract value. The Plan may seek to add additional issuers over time to diversify the Plans
exposure to such risk, but there is no assurance the Plan may be able to do so. The combination of
the default of an issuer and an inability to obtain a replacement agreement could render the Plan
unable to achieve its objective of maintaining a stable contract value. The terms of an investment
contract generally provide for settlement of payments only upon termination of the contract or
total liquidation of the covered investments. Generally, payments will be made pro rata, based on
the percentage of investments covered by each issuer. Contract termination occurs whenever the
contract value or market value of the covered investments reaches zero or upon certain events of
default. If the contract terminates due to issuer default (other than a default occurring because
of a decline in its rating), the issuer will generally be required to pay to the Plan the excess,
if any, of contract value over market value on the date of termination. If a synthetic GIC
terminates due to a decline in the ratings of the issuer, the issuer may be required to pay to the
Plan the cost of acquiring a replacement contract (that is, replacement cost) within the meaning of
the contract. If the contract terminates when the market value equals zero, the issuer will pay the
excess of contract value over market value to the Plan to the extent necessary for the Plan to
satisfy outstanding contract value withdrawal requests. Contract termination also may occur by
either party upon election and notice.
As described in note 2, because the synthetic GICs are fully benefit-responsive, contract value is
the relevant measurement attribute for that portion of the net assets available for benefits
attributable to the synthetic GICs. Participants may ordinarily direct the withdrawal or transfer
of all or a portion of their investment at contract value.
|
|
|
|
|
|
|
|
|
Average Yields for Synthetic GICs |
|
2008 |
|
2007 |
|
Based on actual earnings |
|
|
6.76 |
% |
|
|
6.74 |
% |
Based on interest rate credited to participants |
|
|
2.64 |
% |
|
|
5.17 |
% |
6. Loan Fund
The Plan permits a participant to borrow a portion of their existing account balance. Loans are
made subject to certain conditions and limitations specified in the plan document and are repaid in
weekly installments, including interest, over periods of between one and ten years. Participant
loans are collateralized by their account balances. The rate at which loans bear interest is
established at the inception of the borrowing, based on the prime rate then being charged by the
Trustee plus 1%. Repayments of loans, including the interest portion thereof, are reinvested on the
participants behalf in accordance with their current choice of investment options.
10
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
7. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service (IRS) dated May 22,
2009, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the
Code) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is
required to operate in conformity with the Code to maintain its qualification. The plan
administrator believes the Plan is being operated in compliance with the applicable requirements of
the Code and, therefore, believes that the Plan is qualified and the related trust is tax-exempt.
8. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various
risks such as interest rate, market, and credit risks. Due to the level of risk associated with
certain investment securities, it is at least reasonably possible that changes in value of
investment securities will occur in the near term and that such changes could materially affect
participants account balances and the amounts reported in the statements of net assets available
for benefits.
9. Related-Party Transactions
Certain plan investments are shares of mutual funds managed by the trustee, JP Morgan Chase Bank,
and shares of mutual funds managed by the Harbor Capital Advisors, the investment advisors of
various defined benefit pension plans of the Company. The investments in mutual funds managed by JP
Morgan Chase Bank and Harbor Capital Advisors qualify as party-in-interest transactions. There have
been no known prohibited transactions with a party in interest.
11
Amended and Restated Libbey Inc.
Supplemental Retirement Plan
Notes to Financial Statements (continued)
10. Reconciliation Between Financial Statements and Form 5500
The accompanying financial statements present fully benefit responsive contracts at contract value.
The Form 5500 requires fully benefit responsive investment contracts to be reported at fair value.
Therefore, the adjustment from fair value to contract value for fully benefit responsive investment
contracts represents a reconciling item.
A reconciliation of net assets available for benefits per the financial statements to the Form 5500
follows:
|
|
|
|
|
|
|
|
|
|
|
December 31 |
|
|
2008 |
|
2007 |
|
|
|
Net assets available for benefits per the financial statements |
|
$ |
26,350,988 |
|
|
$ |
43,259,405 |
|
Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
|
|
(761,314 |
) |
|
|
(160,106 |
) |
|
|
|
Net assets available for benefits per the Form 5500 |
|
$ |
25,589,674 |
|
|
$ |
43,099,299 |
|
|
|
|
The following is a reconciliation of net (decrease) increase in assets available for benefits per
the financial statements to the Form 5500 follows:
|
|
|
|
|
|
|
|
|
|
|
December 31 |
|
|
2008 |
|
2007 |
|
|
|
Net (decrease) increase in assets available for
benefits per the financial statements |
|
$ |
(16,908,417 |
) |
|
$ |
6,727,472 |
|
Adjustments from fair value to contract value for
fully benefit-responsive investment contracts |
|
|
(601,208 |
) |
|
|
(60,242 |
) |
|
|
|
Total net (loss) income and transfers of assets per the
Form 5500 |
|
$ |
(17,509,625 |
) |
|
$ |
6,667,230 |
|
|
|
|
12
Amended and Restated Libbey Inc. Supplemental Retirement Plan
EIN #34-1559357 Plan #002
Schedule H, Line 4i Schedule of Assets
(Held at End of Year)
December 31, 2008
|
|
|
|
|
|
|
|
|
Description of Investment, |
|
|
|
Identity of Issue, Borrower, |
|
Description of Investment, Including Maturity |
|
Current |
|
Lessor, or Similar Party |
|
Date, Par, or Maturity Value Rate of Interest |
|
Value |
|
|
Registered investment companies: |
|
|
|
|
|
|
American
Century Investments |
|
109,244 shares of Small Capital Value |
|
$ |
586,639 |
|
|
|
55,345 shares of Equity Income |
|
|
334,020 |
|
*Harbor |
|
108,027 shares of Capital Appreciation Fund |
|
|
2,498,972 |
|
|
|
82,875 shares of International Fund |
|
|
3,299,260 |
|
|
|
238,788 shares of Bond Fund |
|
|
2,698,299 |
|
|
|
182,611 shares of Large Capital Value Fund |
|
|
1,128,535 |
|
AIM |
|
62,089 shares of Small Cap Growth |
|
|
1,046,325 |
|
Dodge & Cox |
|
12,235 shares of Stock Fund |
|
|
909,901 |
|
Fidelity |
|
25,014 shares of Freedom 2010 |
|
|
259,143 |
|
|
|
46,124 shares of Freedom 2015 |
|
|
394,818 |
|
|
|
44,276 shares of Freedom 2020 |
|
|
444,975 |
|
|
|
22,268 shares of Freedom 2025 |
|
|
183,262 |
|
|
|
10,933 shares of Freedom 2030 |
|
|
106,706 |
|
|
|
9,444 shares of Freedom 2035 |
|
|
75,835 |
|
|
|
9,363 shares of Freedom 2040 |
|
|
52,338 |
|
|
|
5,119 shares of Freedom 2045 |
|
|
33,684 |
|
|
|
2,765 shares of Freedom 2050 |
|
|
17,862 |
|
|
|
1,918 shares of Freedom Income |
|
|
18,430 |
|
American Funds |
|
28,899 shares of Growth Fund of America |
|
|
591,847 |
|
*JP Morgan |
|
799,703 units, 100% US Treasury Money Market |
|
|
799,703 |
|
|
|
483 units, Cash Investment Fund |
|
|
483 |
|
Common collective trusts: |
|
|
|
|
|
|
*JP Morgan |
|
Liquidity Fund |
|
|
177,060 |
|
*JP Morgan |
|
Intermediate Bond Fund |
|
|
5,045,318 |
|
Barclays |
|
21,267 shares of Equity Index Fund |
|
|
615,892 |
|
U.S. Treasuries and
Wrapped Bonds: |
|
|
|
|
|
|
US Treasury |
|
US Treasury Note 4.875% May 31, 2009 |
|
|
7,947 |
|
US Treasury |
|
US Treasury Note 4.875% June 30, 2009 |
|
|
7,976 |
|
US Treasury |
|
US Treasury Note 2.375% Aug 31, 2010 |
|
|
4,018 |
|
US Treasury |
|
US Treasury Note 2.000% Sept 30, 2010 |
|
|
7,995 |
|
Aegon |
|
Wrapped Bonds |
|
|
3,901 |
|
State Street |
|
Wrapped Bonds |
|
|
3,901 |
|
Common stock: |
|
|
|
|
|
|
*Libbey Inc. |
|
1,097,695 shares of Common Stock |
|
|
1,372,119 |
|
* Participant loans |
|
5% to 10.5% |
|
|
2,862,510 |
|
|
|
|
|
|
|
Total investments |
|
|
|
$ |
25,589,674 |
|
|
|
|
|
|
|
|
|
|
* |
|
Indicates a party in interest to the Plan. |
13