Form 11-K AT&T INC. For: Dec 31

June 28, 2019 3:34 PM
Table of Contents

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2018

OR

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                     to                     

Commission File Number:1-8610

 

 

 

A.

Full title of the plan and the address of the plan, if different from that of the issuer named below:

AT&T SAVINGS AND SECURITY PLAN

 

B.

Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

AT&T INC.

208 S. Akard, Dallas, Texas 75202

 

 

 


Table of Contents

AT&T Savings and Security Plan

Financial Statements, Supplemental Schedules and Exhibit

Table of Contents

 

     Page  

Report of Independent Registered Public Accounting Firm

     1  

Financial Statements:

  

Statements of Net Assets Available for Benefits as of December  31, 2018 and 2017

     2  

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2018

     3  

Notes to Financial Statements

     4  

Supplemental Schedules:

  

Schedule H, Part IV, Line 4(a) – Schedule of Delinquent Participant Contributions for the Year Ended December 31, 2018

     11  

Schedule H, Part IV, Line 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2018

     12  

 


Table of Contents

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Plan Administrator and Plan Participants

AT&T Savings and Security Plan

Dallas, Texas

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of AT&T Savings and Security Plan (Plan) as of December 31, 2018 and 2017, the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of AT&T Savings and Security Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis of Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Report on Supplemental Information

The supplemental information in the accompanying schedules of delinquent participant contributions for the year ended December 31, 2018, and assets (held at end of year) as of December 31, 2018, have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedules are the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedules reconcile 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 schedules. In forming our opinion on the supplemental schedules, we evaluated whether the supplemental schedules, including their form and content, are presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

/s/ BKD, LLP

We have served as the Plan’s auditor since 2018

San Antonio, Texas

June 28, 2019

 

1


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

(Dollars in Thousands)

 

     December 31,  
     2018      2017  

ASSETS

     

Investments at fair value (See Notes 3 and 4)

   $ 1,738,502      $ 4,621,952  

Fully benefit-responsive investment contracts at contract value (See Note 4)

     321,379        720,943  

Notes receivable from participants

     100,110        199,179  

Receivable for investments sold

     241        1,466  

Participant contributions receivable

     460        3,509  

Employer contributions receivable

     209        1,580  

Dividends and interest receivable

     42        25  
  

 

 

    

 

 

 

Total Receivables

     101,062        205,759  

Total Assets

     2,160,943        5,548,654  

LIABILITIES

     

Administrative expenses payable

     208        749  

Due to broker for securities purchased

     1,854        680  
  

 

 

    

 

 

 

Total Liabilities

     2,062        1,429  
  

 

 

    

 

 

 

Net Assets Available for Benefits

   $ 2,158,881      $ 5,547,225  
  

 

 

    

 

 

 

See Notes to Financial Statements.

     

 

2


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2018

(Dollars in Thousands)

 

Net Assets Available for Benefits, December 31, 2017

   $ 5,547,225  

Changes in Net Assets:

  

Contributions:

  

Participant contributions

     74,664  

Employer contributions

     36,744  

Rollover contributions

     31,419  
  

 

 

 
     142,827  

Investment (Loss) Income:

  

Net depreciation in fair value of investments

     (272,890

Dividends

     38,634  

Interest

     8,177  
  

 

 

 
     (226,079

Interest income on notes receivable from participants

     4,720  

Distributions

     (261,400

Administrative expenses

     (2,445
  

 

 

 

Net decrease before transfers

     (342,377

Transfers to other affiliated qualified savings plan (Note 1)

     (3,045,967
  

 

 

 

Net Assets Available for Benefits, December 31, 2018

   $ 2,158,881  
  

 

 

 

See Notes to Financial Statements.

  

 

3


Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements

(Dollars in Thousands)

NOTE 1. PLAN DESCRIPTION

The AT&T Savings and Security Plan (Plan) is a defined contribution plan originally established by SBC Communications Inc. (SBC) to provide a convenient way for eligible employees to save for retirement on a regular and long-term basis. In connection with the November 2005 merger of AT&T Corp., SBC changed its name to AT&T Inc. (AT&T or the Company).

The majority of eligible employees are represented by the Communications Workers of America or the International Brotherhood of Electrical Workers who are employed by participating companies of AT&T. The following description of the Plan provides only general information. The Plan has detailed provisions covering participant eligibility, participant allotments from pay, participant withdrawals, participant loans, employer contributions and related vesting of contributions and Plan expenses. The Plan text and prospectus include complete descriptions of these and other Plan provisions. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Bank of New York Mellon Corporation (BNY Mellon) serves as the trustee for the Plan. Fidelity Investments Institutional Operations Company, Inc. (Fidelity) serves as record keeper for the Plan.

During 2018, participants could invest their contributions in one or more of seven funds in 1% increments:

 

•  AT&T Shares Fund

  

•  Global Equity Fund

  

•  Bond Fund

  

•  Mid and Small Cap Stock Fund

  

•  Large Cap Stock Fund

  

•  International Stock Fund

  

•  Interest Income Fund

     

Participants contribute to the Plan through payroll allotments. Participants may also contribute amounts representing distributions from other qualified defined benefit and defined contribution plans (rollovers). The Company contributes to the Plan by matching the participants’ contributions based on the provisions of the Plan. Company matching contributions are made solely in the form of shares of AT&T’s common stock held in an Employee Stock Ownership Plan (ESOP), which is part of the AT&T Shares Fund, within this Plan. Matching contributions made to the Plan can be immediately diversified into any of the fund options above.

Dividends on shares in the AT&T Shares Fund can either be reinvested in the AT&T Shares Fund on a quarterly basis, or paid into a short-term interest bearing fund for distribution before the end of the year. Interest earned on dividends held in the short-term interest-bearing fund are used to purchase additional units of the AT&T Shares Fund in the participant’s account. During 2018, Plan participants elected to receive $7,840 in dividend distributions. This amount is included in distributions on the Plan’s Statement of Changes in Net Assets Available for Benefits.

Each participant is entitled to exercise voting rights attributable to the AT&T shares allocated to their account and is notified by the Company prior to the time that such rights may be exercised. Subject to the fiduciary provisions of ERISA, the trustee will not vote any allocated shares for which instructions have not been given by a participant. The trustee votes any unallocated shares in the same proportion as it votes those shares that were allocated to the extent the proportionate vote is consistent with the trustee’s fiduciary obligations under ERISA. Participants have the same voting rights in the event of a tender or exchange offer.

Although it has not expressed any intent to do so, AT&T has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA and collective bargaining obligations. In the event that the Plan is terminated, subject to the conditions set forth by ERISA, the account balances of all participants shall be 100% vested.

As part of collective bargaining agreements settled during 2017, certain bargained employees hired prior to August 9, 2009, will no longer participate in the Plan but will instead participate in the AT&T Retirement Savings Plan effective January 1, 2018. In 2018, $3,045,950 of participant balances and assets were transferred into the AT&T Retirement Savings Plan. In addition in 2018, $17 of participant balances and assets were transferred into the BellSouth Savings and Security Plan.

 

4


Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

Administrative Expenses The reasonable expenses of plan administration may be charged to the Plan in accordance with procedures adopted by the plan administrator (as defined by the Plan). Brokerage fees, transfer taxes and other expenses incident to the purchase or sale of securities by the Trustee shall be deemed to be part of the cost of such securities, or deducted in computing the proceeds, as the case may be. Taxes, if any, on any assets held or income received by the Trustee will be charged appropriately against the accounts of Plan participants as determined by the plan administrator. To the extent that expenses incident to the administration of the Plan are paid from the Plan, the plan administrator will determine which expenses are to be charged to and paid from participant’s individual accounts, which expenses are to be charged to and paid from the accounts of all participants (and how they are to be allocated among such accounts), and which expenses are to be charged to and paid from the accounts of one or more identified groups of participants (and how they are to be allocated among such accounts). All expenses of administering the Plan that are not charged to the Plan will be borne by the Company.

NOTE 2. ACCOUNTING POLICIES

The accompanying financial statements were prepared in conformity with U.S. generally accepted accounting principles (GAAP), which require management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Distributions are recorded when paid.

Investment Valuation and Income Recognition Investments are stated at fair value, except those investments that are fully benefit-responsive investments, which are stated at contract value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 3 for discussion of fair value measurements. Investments in securities traded on a national securities exchange are valued at the last reported sales price on the last business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. Shares of registered investment companies (i.e., mutual funds) are valued based on quoted market prices, which represent the net asset value of shares held at year-end. Common/collective trust funds are valued at quoted redemption values that represent the net asset values of units held at year-end.

Investment contracts held by a defined contribution plan are required to be reported at contract value. 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 invests in fully benefit-responsive synthetic investment contracts (Synthetic GICs). The underlying investments of the Synthetic GICs are comprised of corporate bonds and notes, registered investment companies and government securities. The contract value of the fully benefit-responsive investment contracts represents contributions plus earnings, less participant withdrawals and administrative expenses.

Purchases and sales of securities are reflected as of the trade date. Dividend income is recognized on the ex-dividend date. Interest earned on investments is recognized on the accrual basis. Net depreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year. Transfers in and out of Level 1 (quoted market prices), Level 2 (other significant observable inputs) and Level 3 (significant unobservable inputs) are recognized on the period ending date.

Notes Receivable from Participants Notes receivable from participants represent participant loans that are 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, 2018 or 2017. 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 distribution is recorded.

Recent Accounting Standards

In July 2018, the FASB issued Accounting Standards Update No. 2018-09 “Codification Improvements” (ASU-2018-09). ASU 2018-09 requires a plan to evaluate its investments to determine whether a readily determinable fair value exists or if investments qualify for the net asset value per share practical expedient and can be excluded from the fair value hierarchy disclosure. The new standard is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Plan is not early adopting this standard. Management is currently evaluating this updated guidance.

 

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Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

NOTE 3. FAIR VALUE MEASUREMENTS

Accounting Standards Codification 820, Fair Value Measurement, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that 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 or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

 

Level 1

Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

 

Level 2

Inputs to the valuation methodology include:

 

   

Quoted prices for similar assets and liabilities in active markets;

 

   

Quoted prices for identical or similar assets or liabilities in inactive markets;

 

   

Inputs other than quoted market prices that are observable for the asset or liability;

 

   

Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

 

Level 3

Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The valuation methodologies described in Note 2 may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Plan management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used at December 31, 2018 and 2017.

The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2018:

 

     Plan Assets at Fair Value as of December 31, 2018  
     Level 1      Level 2      Level 3      Total  

AT&T common stock

   $ 535,161      $ —        $ —        $ 535,161  

Mutual funds or exchange-traded funds

     21,629        —          —          21,629  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets in fair value hierarchy

   $ 556,790      $ —        $ —        $ 556,790  
  

 

 

    

 

 

    

 

 

    

Common/collective trusts measured at net asset value:

           

Large cap U.S. stock index fund1

              433,902  

Mid and small cap U.S. stock index fund2

              279,882  

Bond index fund3

              160,876  

International stock index fund4

              172,834  

Global equity fund5

              134,218  
           

 

 

 

Total investments at fair value

            $ 1,738,502  
           

 

 

 
1

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Standard and Poor’s Composite Stock Price Index of 500 stocks (the “S&P 500 Index”). There are currently no redemption restrictions on this investment.

2

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Dow Jones U.S. Completion Total Stock Market Index. There are currently no redemption restrictions on this investment.

3

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the fixed income securities included in the Barclays U.S. Government/Credit Bond Index. There are currently no redemption restrictions on this investment.

4

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the MSCI EAFE Index. There are currently no redemption restrictions on this investment.

5

This fund consists of two common/collective trust funds with an objective of providing investment returns that approximate an asset allocation of 75% to the Dow Jones U.S. Total Stock Market Index and 25% to the Morgan Stanley Country Index – Europe, Australasia, Far East (MSCI EAFE) Index. There are currently no redemption restrictions on these investments.

 

6


Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2017:

 

     Plan Assets at Fair Value as of December 31, 2017  
     Level 1      Level 2      Level 3      Total  

AT&T common stock

   $ 1,755,249      $ —        $ —        $ 1,755,249  

Mutual funds or exchange-traded funds

     29,074        —          —          29,074  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets in fair value hierarchy

   $ 1,784,323      $ —        $ —        $ 1,784,323  
  

 

 

    

 

 

    

 

 

    

Common/collective trusts measured at net asset value:

           

Large cap U.S. stock index fund1

              1,080,599  

Mid and small cap U.S. stock index fund2

              645,041  

Bond index fund3

              381,041  

International stock index fund4

              405,018  

Global equity fund5

                                                    325,930  
           

 

 

 

Total investments at fair value

            $ 4,621,952  
           

 

 

 
1

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Standard and Poor’s Composite Stock Price Index of 500 stocks (the “S&P 500 Index”). There are currently no redemption restrictions on this investment.

2

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the Dow Jones U.S. Completion Total Stock Market Index. There are currently no redemption restrictions on this investment.

3

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the fixed income securities included in the Barclays U.S. Government/Credit Bond Index. There are currently no redemption restrictions on this investment.

4

This category includes a common/collective trust fund with an objective of providing investment results that approximate the overall performance of the common stocks included in the MSCI EAFE Index. There are currently no redemption restrictions on this investment.

5

This fund consists of two common/collective trust funds with an objective of providing investment returns that approximate an asset allocation of 75% to the Dow Jones U.S. Total Stock Market Index and 25% to the Morgan Stanley Country Index – Europe, Australasia, Far East (MSCI EAFE) Index. There are currently no redemption restrictions on these investments.

 

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Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

NOTE 4. INVESTMENTS

Fully Benefit-Responsive Investment Contracts

The Interest Income Fund consists of fully benefit-responsive investment contracts with various financial institutions and insurance companies that promise to repay principal plus accrued income at contract maturity, subject to the creditworthiness of the issuer. Interest crediting rates are generally established when the contract is purchased and are periodically reset. The Interest Income Fund invests in Synthetic GICs, also referred to as wrapper contracts. The assets supporting the Synthetic GICs are owned by the Plan and generally consist of high quality fixed income securities.

A bank or insurance company issues a wrapper contract that provides preservation of principal, maintains a stable interest rate and provides daily liquidity at contract value for participant directed transactions, in accordance with the provisions of the Plan. Wrapper contracts amortize the realized and unrealized gains and losses on the underlying fixed income investments through adjustments to the future interest crediting rate. The issuer of the wrapper contract provides assurance that the adjustments to the interest crediting rate do not result in a future interest crediting rate that is less than zero, which would result in a loss of principal or accrued interest.

In certain circumstances, the amount withdrawn from the wrapper contract could be payable at fair value rather than at contract value. These events include termination of the Plan, a material adverse change to the provisions of the Plan, if AT&T elects to withdraw from a wrapper contract in order to switch to a different investment provider or, in the event of a spin-off or sale of a division, if the terms of the successor plan do not meet the contract issuers’ underwriting criteria for issuance of a clone wrapper contract. Events that would permit a wrapper contract issuer to terminate a wrapper contract upon short notice include the Plan’s loss of its qualified status, un-cured material breaches of responsibilities or material and adverse changes to the provisions of the Plan. The Company does not believe any of these events are probable of occurring in the foreseeable future.

Investment Risk

Investments held by the Plan are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of investments could 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 benefit. Plan participants’ accounts that are invested in the Company stock fund option are exposed to market risk in the event of a significant decline in the value of AT&T stock.

Additionally, the Plan invests in securities with contractual cash flows, such as asset-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate values, delinquencies or defaults, or both, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

 

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Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

NOTE 5. PARTIES-IN-INTEREST TRANSACTIONS

Plan assets are invested in AT&T stock directly. Because the Company is the plan sponsor, transactions involving the Company’s stock qualify as party-in-interest transactions. In addition, certain investments held by the Plan are managed by BNY Mellon and Fidelity as trustee and record keeper, respectively, as defined by various agreements. Therefore, these transactions and fees paid to these entities qualify as parties-in-interest transactions. All of these transactions are exempt from the prohibited transaction rules.

The Plan may, at the discretion of the Plan’s participants or via the Company match, invest its assets in the Company’s common stock. The Plan’s AT&T Shares Fund held 18,751,271 and 45,145,290 shares of the Company’s common stock as of December 31, 2018 and 2017, respectively. Dividends earned by the Plan’s AT&T Shares Fund on the Company’s common stock were $30,758 for the year ended December 31, 2018.

NOTE 6. TAX STATUS

The Plan has received a determination letter from the Internal Revenue Service (IRS) dated June 23, 2015, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (IRC) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. Subsequent to this determination by the IRS, the Plan was amended. The plan administrator has indicated that it will take the necessary steps, if any, to bring the Plan’s operations into compliance with the Code.

Accounting principles generally accepted in the United States require 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, 2018, there were 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.

 

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Table of Contents

AT&T Savings and Security Plan

Notes to Financial Statements (Continued)

(Dollars in Thousands)

 

NOTE 7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following is a reconciliation of Net Assets Available for Benefits per the financial statements to the Form 5500 as of December 31:

 

     2018      2017  

Net Assets Available for Benefits per the financial statements

   $ 2,158,881      $ 5,547,225  

Distributions payable to participants

     (743      (1,430
  

 

 

    

 

 

 

Net Assets Available for Benefits per the Form 5500

   $ 2,158,138      $ 5,545,795  
  

 

 

    

 

 

 

Distributions payable to participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, but not yet paid as of that date. The following is a reconciliation of distributions to participants per the financial statements to the Form 5500 for the year ended December 31, 2018:

 

Distributions to participants per the financial statements

   $ 261,400  

Distributions payable to participants at December 31, 2017

     (1,430

Distributions payable to participants at December 31, 2018

     743  
  

 

 

 

Distributions to participants per the Form 5500

   $ 260,713  
  

 

 

 

 

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Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, PART IV, LINE 4(a) - SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS

December 31, 2018

(Dollars in Thousands)

 

Participant Contributions
Transferred Late to the Plan
    Total That Constitute Nonexempt Prohibited Transactions  
Check Here if Late Participant
Loan Repayments are included:
    Contributions
Not Corrected
    Contributions
Corrected
Outside
VCFP
    Contributions
Pending
Correction
in VCFP
    Total Fully
Corrected Under
VCFP and PTE
2002-51
 
$ 6     $ —       $ —       $ 6       N/A  

 

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AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

 

Identity of Issue

  

Description of Investment

  

Current Value

AT&T Shares Fund     

*   AT&T COMMON SHARES

   18,751,271 SHARES    $535,161

*   DREYFUS GOVERNMENT CASH

MANAGEMENT FUND

  

REGISTERED INVESTMENT

    COMPANY: 7,360,910 UNITS

   7,361
     

 

TOTAL SHARES FUND

      542,522
     

 

Bond Fund          

*   BLACKROCK GOVERNMENT/CREDIT

BOND INDEX FUND F

  

COMMON/COLLECTIVE TRUST

    FUND: 5,543,207 UNITS

   160,876
Large Cap Stock Fund          

*   BLACKROCK

EQUITY INDEX FUND F

  

COMMON/COLLECTIVE TRUST

    FUND: 9,079,546 UNITS

   433,902
Interest Income Fund     

WACHOVIA STUDENT LOAN TRU 1 A5

   VAR RT 01/26/2026 DD 11/29/05    24

UTAH ST BRD OF RGTS STUDENT LO

   VAR RT 05/01/2035 DD 09/28/11    350

UTAH STATE BOARD OF REGEN 1 A2

   VAR RT 05/01/2029 DD 09/28/11    138

SUNTRUST BANK/ATLANTA GA

   VAR RT 01/29/2021 DD 02/02/18    792

SLC STUDENT LOAN TRUST 201 1 A

   VAR RT 11/25/2042 DD 07/06/10    117

SLM STUDENT LOAN TRUST 20 1 A5

   VAR RT 01/26/2026 DD 01/25/07    845

NISSAN MASTER OWNER TRUST C A

   VAR RT 10/17/2022 DD 11/13/17    839

NELNET STUDENT LOAN TRUST 2 A5

   VAR RT 01/25/2030 DD 05/18/06    313

NCUA GUARANTEED NOTES TR R1 1A

   VAR RT 10/07/2020 DD 10/27/10    266

NCUA GUARANTEED NOTES TR R2 2A

   VAR RT 11/05/2020 DD 11/17/10    673

JPMORGAN CHASE BANK NA

   VAR RT 02/01/2021 DD 02/01/18    248

JPMORGAN CHASE & CO

   VAR RT 04/23/2024 DD 04/23/18    521

JPMORGAN CHASE & CO

   VAR RT 06/01/2021 DD 06/01/17    1,526

GCO EDUCATION LOAN 1A A6L 144A

   VAR RT 11/25/2026 DD 03/06/07    954

FNMA POOL #0BM1523

   VAR RT 07/01/2047 DD 07/01/17    799

FNMA POOL #0756359

   VAR RT 12/01/2033 DD 12/01/03    91

FNMA POOL #0686026

   VAR RT 04/01/2033 DD 04/01/03    63

FNMA GTD REMIC P/T 04-T4 A9

   VAR RT 08/25/2034 DD 07/01/04    48

FNMA GTD REMIC P/T 03-W10 2A

   VAR RT 06/25/2043 DD 06/01/03    131

FNMA GTD REMIC P/T 02-W11 AF6

   VAR RT 11/25/2032 DD 09/01/02    9

FNMA GTD REMIC P/T 02-W2 AF6

   STEP 05/25/2032 DD 03/01/02    7

FNMA POOL #0AL2492

   VAR RT 10/01/2042 DD 09/01/12    353

FNMA POOL #0AL1674

   VAR RT 05/01/2042 DD 05/01/12    109

FNMA POOL #0AK5677

   VAR RT 02/01/2042 DD 02/01/12    75

FHLMC MULTICLASS MTG K504 A2

   VAR RT 09/25/2020 DD 01/01/16    741

FHLMC POOL #2B-6264

   VAR RT 06/01/2047 DD 06/01/17    544

FHLMC POOL #84-9727

   VAR RT 05/01/2045 DD 05/01/15    865

 

12


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

 

Identity of Issue

  

Description of Investment

   Current Value  
FHLMC POOL #84-9539    VAR RT 11/01/2044 DD 12/01/14      172  
FHLMC POOL #84-9008    VAR RT 06/01/2042 DD 03/01/13      217  
FHLMC POOL #78-8657    VAR RT 09/01/2031 DD 09/01/01      9  
FHLMC POOL #2B-0069    VAR RT 12/01/2041 DD 12/01/11      85  
COMCAST CORP    VAR RT 10/01/2021 DD 10/05/18      520  
BANK OF AMERICA CORP    VAR RT 05/17/2022 DD 05/17/18      250  
AMERICAN EXPRESS CO    VAR RT 08/03/2023 DD 08/03/18      196  
ALLSTATE CORP/THE    VAR RT 03/29/2023 DD 03/29/18      784  
WELLS FARGO & CO    2.625% 07/22/2022 DD 07/24/17      1,022  
WELLS FARGO BANK NA    3.550% 08/14/2023 DD 08/14/18      423  
WELLS FARGO BANK NA    2.600% 01/15/2021 DD 01/23/18      988  
UNITEDHEALTH GROUP INC    2.375% 10/15/2022 DD 10/25/17      199  
U S TREASURY NOTE    2.625% 07/15/2021 DD 07/15/18      1,505  
U S TREASURY NOTE    1.750% 05/31/2022 DD 05/31/17      5,360  
U S TREASURY NOTE    1.875% 01/31/2022 DD 01/31/17      7,622  
U S TREASURY NOTE    1.125% 07/31/2021 DD 07/31/16      1,449  
U S TREASURY NOTE    1.125% 06/30/2021 DD 06/30/16      1,490  
U S TREASURY NOTE    1.375% 05/31/2021 DD 05/31/16      16,475  
U S TREASURY NOTE    1.625% 05/15/2026 DD 05/15/16      327  
U S TREASURY NOTE    1.375% 03/31/2020 DD 03/31/15      2,345  
U S TREASURY NOTE    2.500% 03/31/2023 DD 03/31/18      2,700  
U S TREASURY NOTE    2.750% 02/15/2028 DD 02/15/18      4,845  
U S TREASURY NOTE    1.875% 07/31/2022 DD 07/31/17      4,279  
U S TREASURY NOTE    1.125% 08/31/2021 DD 08/31/16      4,537  
SIMON PROPERTY GROUP LP    4.125% 12/01/2021 DD 11/16/11      461  
CHARLES SCHWAB CORP/THE    2.650% 01/25/2023 DD 12/07/17      1,645  
PUBLIC STORAGE    2.370% 09/15/2022 DD 09/18/17      198  
PINNACLE WEST CAPITAL CORP    2.250% 11/30/2020 DD 11/30/17      309  
PFIZER INC    3.200% 09/15/2023 DD 09/07/18      1,581  
OHIO PHASE-IN-RECOVERY FU 1 A2    2.049% 07/01/2020 DD 08/01/13      140  
NISSAN MASTER OWNER TRUST A A2    1.540% 06/15/2021 DD 07/19/16      417  
NEW YORK LIFE GLOBAL FUND 144A    1.950% 09/28/2020 DD 09/28/17      1,029  
NESTLE HOLDINGS INC 144A    3.350% 09/24/2023 DD 09/24/18      1,060  
MORGAN STANLEY BANK OF C13 A2    2.936% 11/15/2046 DD 12/01/13      54  
METROPOLITAN LIFE GLOBAL 144A    3.450% 10/09/2021 DD 10/09/18      753  
JPMBB COMMERCIAL MORTGA C14 A2    3.019% 08/15/2046 DD 08/01/13      62  
JPMORGAN CHASE & CO    2.295% 08/15/2021 DD 08/08/16      1,571  
INTERCONTINENTAL EXCHANGE INC    3.450% 09/21/2023 DD 08/13/18      351  
INTEL CORP    2.350% 05/11/2022 DD 05/11/17      861  
HONEYWELL INTERNATIONAL INC    1.850% 11/01/2021 DD 10/31/16      812  
HOME DEPOT INC/THE    3.250% 03/01/2022 DD 12/06/18      152  
HOME DEPOT INC/THE    2.000% 04/01/2021 DD 02/12/16      613  

 

13


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
GNMA GTD REMIC P/T 12-43 AJ    3.000% 05/20/2038 DD 04/01/12      55  
GENERAL DYNAMICS CORP    3.375% 05/15/2023 DD 05/11/18      403  
GMF FLOORPLAN OWNER 1 A1 144A    1.960% 05/17/2021 DD 05/31/16      547  
FORD CREDIT AUTO OWNE 2 A 144A    2.030% 12/15/2027 DD 06/28/16      556  
FORD CREDIT FLOORPLAN MAS 1 A1    2.070% 05/15/2022 DD 05/30/17      1,135  
FORD CREDIT FLOORPLAN MAS 5 A1    1.950% 11/15/2021 DD 12/13/16      1,266  
FIFTH THIRD BANK/CINCINNATI OH    2.200% 10/30/2020 DD 10/30/17      392  
FNMA POOL #0AB0130    5.000% 05/01/2038 DD 05/01/09      71  
FNMA POOL #0BF0198    4.000% 11/01/2040 DD 01/01/18      775  
FNMA POOL #0735676    5.000% 07/01/2035 DD 06/01/05      261  
FNMA POOL #0725228    6.000% 03/01/2034 DD 02/01/04      524  
FNMA POOL #0555678    5.000% 08/01/2033 DD 07/01/03      825  
FHLMC MULTICLASS MTG 4604 HA    2.500% 05/15/2045 DD 08/01/16      440  
FHLMC MULTICLASS MTG 4594 PA    3.000% 11/15/2044 DD 06/01/16      647  
FHLMC MULTICLASS MTG 4585 DA    3.000% 06/15/2045 DD 05/01/16      614  
FHLMC MULTICLASS MTG K717 A2    2.991% 09/25/2021 DD 12/01/14      2,346  
FHLMC MULTICLASS MTG K716 A2    3.130% 06/25/2021 DD 09/01/14      2,038  
FHLMC MULTICLASS MTG 4189 PA    3.500% 11/15/2042 DD 04/01/13      221  
FHLMC MULTICLASS MTG 3896 PA    4.000% 03/15/2040 DD 07/01/11      220  
FHLMC MULTICLASS MTG 3895 AM    5.000% 08/15/2039 DD 07/01/11      101  
FNMA GTD REMIC P/T 17-86 PA    3.000% 06/25/2045 DD 10/01/17      1,458  
FNMA GTD REMIC P/T 16-43 MA    3.000% 10/25/2045 DD 06/01/16      603  
FNMA GTD REMIC P/T 16-11 GA    2.500% 03/25/2046 DD 02/01/16      980  
FNMA GTD REMIC P/T 15-92 PA    2.500% 12/25/2041 DD 11/01/15      187  
FNMA GTD REMIC P/T 2013-83 A    3.500% 09/25/2039 DD 07/01/13      225  
FNMA GTD REMIC P/T 13-13 MA    4.000% 01/25/2043 DD 02/01/13      362  
FNMA GTD REMIC P/T 12-118 VA    3.000% 05/25/2022 DD 10/01/12      420  
FNMA GTD REMIC P/T 12-117 DC    3.000% 01/25/2038 DD 09/01/12      409  
FEDERAL FARM CR BK CONS BD    1.400% 03/27/2019 DD 03/27/17      1,785  
FHLMC POOL #V8-0804    6.000% 01/01/2039 DD 11/01/13      10  
FEDERAL HOME LN BK CONS BD    1.375% 09/28/2020 DD 09/08/17      843  
FEDERAL HOME LN BK CONS BD    0.875% 08/05/2019 DD 08/04/16      1,445  
FHLMC POOL #A8-5741    6.000% 04/01/2039 DD 04/01/09      1  
FHLMC POOL #C0-3325    6.000% 02/01/2039 DD 02/01/09      2  
FHLMC POOL #C0-3475    6.000% 04/01/2040 DD 04/01/10      4  
FHLMC POOL #A8-2474    6.000% 10/01/2038 DD 10/01/08      1  
FHLMC POOL #A8-2394    6.000% 10/01/2038 DD 10/01/08      1  
FHLMC POOL #A8-1660    6.000% 09/01/2038 DD 09/01/08      1  
FHLMC POOL #A8-1068    6.000% 08/01/2038 DD 08/01/08      3  
FHLMC POOL #G0-7222    6.000% 04/01/2040 DD 11/01/12      7  
FHLMC POOL #G0-6954    6.000% 05/01/2040 DD 04/01/12      6  
FHLMC POOL #G0-6232    6.000% 05/01/2040 DD 01/01/11      1  

 

14


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
FHLMC POOL #G0-6249    6.000% 05/01/2040 DD 02/01/11      3  
FHLMC POOL #G0-6066    6.000% 05/01/2040 DD 10/01/10      7  
FHLMC POOL #G0-6789    6.000% 05/01/2040 DD 10/01/11      5  
FHLMC POOL #G0-5369    6.000% 03/01/2039 DD 03/01/09      2  
FHLMC POOL #G0-5940    6.000% 04/01/2040 DD 07/01/10      2  
FHLMC POOL #G0-4765    6.000% 09/01/2038 DD 09/01/08      7  
FHLMC POOL #G0-4757    6.000% 08/01/2038 DD 10/01/08      1  
FHLMC POOL #G0-4713    6.000% 10/01/2038 DD 09/01/08      5  
FHLMC POOL #G0-4645    6.000% 07/01/2038 DD 08/01/08      6  
FHLMC POOL #G0-4607    6.000% 09/01/2038 DD 08/01/08      4  
FHLMC POOL #G0-4576    6.000% 09/01/2038 DD 08/01/08      9  
FHLMC POOL #G0-4411    6.000% 06/01/2038 DD 06/01/08      7  
FHLMC POOL #G0-4301    6.000% 03/01/2038 DD 05/01/08      1  
FHLMC POOL #G0-4230    6.000% 04/01/2038 DD 04/01/08      2  
FHLMC POOL #G0-3941    6.000% 02/01/2038 DD 02/01/08      6  
FHLMC POOL #G0-3926    6.000% 02/01/2038 DD 02/01/08      2  
FHLMC POOL #G0-3850    6.000% 02/01/2038 DD 01/01/08      1  
FHLMC POOL #G0-3819    6.000% 01/01/2038 DD 01/01/08      2  
FHLMC POOL #G0-3781    6.000% 01/01/2038 DD 01/01/08      8  
FHLMC POOL #G0-3776    6.000% 01/01/2038 DD 01/01/08      6  
FHLMC POOL #G0-3721    6.000% 12/01/2037 DD 12/01/07      3  
FHLMC POOL #G0-3698    6.000% 12/01/2037 DD 12/01/07      4  
FHLMC POOL #G0-3646    6.000% 01/01/2038 DD 12/01/07      3  
FHLMC POOL #G0-3616    6.000% 12/01/2037 DD 11/01/07      6  
FHLMC POOL #G0-3581    6.000% 11/01/2037 DD 11/01/07      6  
FHLMC POOL #G0-3551    6.000% 11/01/2037 DD 11/01/07      14  
FHLMC POOL #G0-3504    6.000% 11/01/2037 DD 10/01/07      1  
FHLMC POOL #G0-3517    6.000% 11/01/2037 DD 10/01/07      1  
FHLMC POOL #G0-3349    6.000% 10/01/2037 DD 09/01/07      2  
FHLMC POOL #G0-3330    6.000% 09/01/2037 DD 09/01/07      2  
FHLMC POOL #G0-4170    6.000% 04/01/2038 DD 04/01/08      2  
FHLMC POOL #G0-3297    6.000% 09/01/2037 DD 09/01/07      1  
FHLMC POOL #A7-8625    6.000% 06/01/2038 DD 06/01/08      1  
FHLMC POOL #A7-7766    6.000% 06/01/2038 DD 05/01/08      1  
FHLMC POOL #A7-7211    6.000% 05/01/2038 DD 05/01/08      3  
FHLMC POOL #A7-6476    6.000% 04/01/2038 DD 04/01/08      2  
FHLMC POOL #A7-6472    6.000% 04/01/2038 DD 04/01/08      1  
FHLMC POOL #A7-6056    6.000% 04/01/2038 DD 04/01/08      1  
FHLMC POOL #A6-9654    6.000% 12/01/2037 DD 12/01/07      6  
FHLMC POOL #A6-9303    6.000% 11/01/2037 DD 11/01/07      1  
FHLMC POOL #A6-9265    6.000% 12/01/2037 DD 12/01/07      1  
FHLMC POOL #A6-9830    6.000% 12/01/2037 DD 12/01/07      3  

 

15


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
FHLMC POOL #A6-8998    6.000% 11/01/2037 DD 11/01/07      3  
FHLMC POOL #A6-7449    6.000% 11/01/2037 DD 10/01/07      2  
FHLMC POOL #A6-7052    6.000% 10/01/2037 DD 10/01/07      2  
FHLMC POOL #A6-5652    6.000% 09/01/2037 DD 09/01/07      2  
FHLMC POOL #A6-5651    6.000% 09/01/2037 DD 09/01/07      1  
FHLMC POOL #A6-5518    6.000% 09/01/2037 DD 09/01/07      2  
FHLMC POOL #A6-5310    6.000% 09/01/2037 DD 09/01/07      1  
FHLMC POOL #A6-4142    6.000% 08/01/2037 DD 08/01/07      2  
FHLMC POOL #A6-4100    6.000% 08/01/2037 DD 08/01/07      1  
FHLMC POOL #A6-3809    6.000% 08/01/2037 DD 07/01/07      4  
FHLMC POOL #A6-4440    6.000% 08/01/2037 DD 08/01/07      3  
DUKE ENERGY PROGRESS LLC    3.375% 09/01/2023 DD 08/09/18      502  
DUKE ENERGY CAROLINAS LLC    3.350% 05/15/2022 DD 11/08/18      707  
JOHN DEERE CAPITAL CORP    2.550% 01/08/2021 DD 01/08/16      1,635  
COMCAST CORP    3.700% 04/15/2024 DD 10/05/18      277  
COMCAST CORP    3.450% 10/01/2021 DD 10/05/18      530  
CITIBANK NA    3.050% 05/01/2020 DD 05/01/18      474  
CITIBANK NA    2.125% 10/20/2020 DD 10/20/17      1,598  
CITIBANK CREDIT CARD ISS A3 A3    1.920% 04/07/2022 DD 04/11/17      1,481  
CITIBANK CREDIT CARD ISS A1 A1    1.750% 11/19/2021 DD 12/08/16      2,117  
CHASE ISSUANCE TRUST A5 A5    1.270% 07/15/2021 DD 08/11/16      1,249  
CHASE ISSUANCE TRUST A2 A    1.370% 06/15/2021 DD 06/17/16      1,032  
CENTERPOINT ENERGY HOUSTON ELE    1.850% 06/01/2021 DD 05/18/16      267  
CARGILL INC 144A    3.050% 04/19/2021 DD 04/19/18      724  
CARGILL INC 144A    3.250% 03/01/2023 DD 03/01/18      175  
CAPITAL ONE MULTI-ASSET A5 A5    1.660% 06/17/2024 DD 08/25/16      1,116  
BARCLAYS DRYROCK ISSUANCE 1 A    1.520% 05/16/2022 DD 08/03/16      506  
BANK OF NEW YORK MELLON CORP/T    3.450% 08/11/2023 DD 08/13/18      777  
BANK OF NEW YORK MELLON CORP/T    3.500% 04/28/2023 DD 04/30/18      401  
BMW US CAPITAL LLC 144A    3.100% 04/12/2021 DD 04/12/18      817  
BB&T CORP    2.150% 02/01/2021 DD 10/26/17      822  
ARIZONA PUBLIC SERVICE CO    2.200% 01/15/2020 DD 01/12/15      234  
ARCHER-DANIELS-MIDLAND CO    3.375% 03/15/2022 DD 12/03/18      201  
APPLE INC    2.250% 02/23/2021 DD 02/23/16      1,097  
AMERICAN EXPRESS CREDIT AC 3 A    1.770% 11/15/2022 DD 04/25/17      808  
AMERICAN EXPRESS CO    3.700% 08/03/2023 DD 08/03/18      276  
AMERICAN EXPRESS CO    3.375% 05/17/2021 DD 05/17/18      401  
ALLY MASTER OWNER TRUST 1 A2    2.700% 01/17/2023 DD 02/14/18      1,886  
STANDARD CHARTERED PLC 144A    VAR RT 01/20/2023 DD 10/04/18      322  
LLOYDS BANK PLC    VAR RT 05/07/2021 DD 05/08/18      322  
HSBC HOLDINGS PLC    VAR RT 05/18/2021 DD 05/18/18      862  
LLOYDS BANK PLC    3.300% 05/07/2021 DD 05/08/18      324  

 

16


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
DIAGEO CAPITAL PLC    3.000% 05/18/2020 DD 05/18/18      375  
AFRICAN DEVELOPMENT BANK    2.310% 07/14/2021      2,957  
NORDIC INVESTMENT BANK    1.625% 11/20/2020 DD 09/20/17      2,121  
INTERNATIONAL BANK FOR RECONST    1.625% 09/04/2020 DD 08/29/17      2,716  
INTERNATIONAL BANK FOR RECONST    1.125% 11/27/2019 DD 10/27/16      1,173  
EUROPEAN INVESTMENT BANK    2.375% 05/13/2021 DD 02/13/18      2,923  
AFRICAN DEVELOPMENT BANK    2.625% 03/22/2021 DD 03/22/18      1,501  
BANCO SANTANDER SA    VAR RT 04/12/2023 DD 04/12/18      196  
BANCO SANTANDER SA    3.848% 04/12/2023 DD 04/12/18      194  
COOPERATIEVE RABOBANK UA/NY    VAR RT 04/26/2021 DD 04/26/18      398  
SIEMENS FINANCIERINGSMAAT 144A    1.700% 09/15/2021 DD 09/15/16      240  
ING GROEP NV    4.100% 10/02/2023 DD 10/02/18      375  
ABN AMRO BANK NV 144A    3.400% 08/27/2021 DD 08/28/18      973  
SUMITOMO MITSUI FINANCIAL GROU    2.784% 07/12/2022 DD 07/12/17      1,749  
SEVEN & I HOLDINGS CO LTD 144A    3.350% 09/17/2021 DD 09/19/18      777  
ORIX CORP    2.900% 07/18/2022 DD 07/18/17      586  
MIZUHO FINANCIAL GROUP INC    2.601% 09/11/2022 DD 09/11/17      711  
MITSUBISHI UFJ FINANCIAL GROUP    2.950% 03/01/2021 DD 03/01/16      200  
KREDITANSTALT FUER WIEDERAUFBA    1.875% 12/15/2020 DD 11/15/17      2,069  
BANQUE FEDERATIVE DU CRED 144A    3.750% 07/20/2023 DD 07/20/18      399  
BANQUE FEDERATIVE DU CRED 144A    2.700% 07/20/2022 DD 07/20/17      514  
BPCE SA    2.750% 12/02/2021 DD 12/02/16      355  
BNP PARIBAS SA    5.000% 01/15/2021 DD 01/18/11      698  
SOUND POINT CLO XX 3A A1A 144A    VAR RT 10/26/2031 DD 10/10/18      550  
SOUND POINT CLO V-R 1RA A 144A    VAR RT 07/18/2031 DD 07/18/18      600  
NASSAU 2018-II LTD IIA A 144A    VAR RT 10/15/2031 DD 11/20/18      449  
CIFC FUNDING 2018-II 3A A 144A    VAR RT 07/18/2031 DD 07/20/18      1,048  
SCHLUMBERGER FINANCE CANA 144A    2.650% 11/20/2022 DD 11/20/17      553  
ROYAL BANK OF CANADA    3.200% 04/30/2021 DD 04/30/18      400  
GOLDEN CREDIT CARD T 5A A 144A    1.600% 09/15/2021 DD 09/20/16      920  
CANADIAN IMPERIAL BANK OF COMM    2.700% 02/02/2021 DD 02/02/18      792  
BANK OF MONTREAL    3.100% 04/13/2021 DD 04/13/18      250  
WESTPAC BANKING CORP    2.500% 06/28/2022 DD 06/28/17      1,754  
U S TREASURY BD CPN STRIP    0.000% 02/15/2036 DD 02/15/06      322  
UTAH ST BRD OF RGTS STUDENT LO    VAR RT 05/01/2035 DD 09/28/11      420  
U S TREASURY NOTE    2.250% 11/15/2025 DD 11/15/15      10,552  
SLM STUDENT LOAN TRUST 20 3 A5    VAR RT 10/25/2024 DD 04/13/05      133  
SLC STUDENT LOAN TRUST 20 2 A5    VAR RT 09/15/2026 DD 09/19/06      328  
NELNET STUDENT LOAN TRUST 1 A5    VAR RT 08/23/2027 DD 02/21/06      270  
MORGAN STANLEY    2.650% 01/27/2020 DD 01/27/15      908  
MORGAN STANLEY    VAR RT 10/24/2023 DD 10/24/16      294  
MORGAN STANLEY    VAR RT 04/24/2024 DD 04/24/18      198  

 

17


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
METLIFE INC    VAR RT 09/15/2023 DD 09/10/13      41  
JPMORGAN CHASE & CO    VAR RT 12/05/2024 DD 12/05/18      706  
JPMORGAN CHASE & CO    VAR RT 01/23/2029 DD 01/23/18      308  
GENERAL DYNAMICS CORP    VAR RT 05/11/2020 DD 05/11/18      175  
GS MORTGAGE SECURITIES GC13 A5    VAR RT 07/10/2046 DD 07/01/13      441  
GNMA II POOL #0MA0414    VAR RT 09/20/2042 DD 09/01/12      120  
GCO EDUCATION LOAN 1A A6L 144A    VAR RT 11/25/2026 DD 03/06/07      538  
FNMA POOL #0728766    VAR RT 07/01/2033 DD 07/01/03      56  
FNMA GTD REMIC P/T 02-W11 AF6    VAR RT 11/25/2032 DD 09/01/02      8  
FNMA GTD REMIC P/T 02-W2 AF6    STEP 05/25/2032 DD 03/01/02      7  
FHLMC POOL #1B-0118    VAR RT 08/01/2031 DD 08/01/01      11  
FHLMC POOL #1B-1438    VAR RT 01/01/2034 DD 01/01/04      44  
CHASE EDUCATION LOAN TRUS A A3    VAR RT 12/28/2023 DD 07/02/07      27  
BRAZOS HIGHER EDUCATION 2 A12    VAR RT 03/27/2023 DD 06/23/05      274  
BANK OF AMERICA CORP    VAR RT 07/23/2029 DD 07/23/18      224  
BANK OF AMERICA CORP    VAR RT 07/23/2024 DD 07/23/18      349  
WELLS FARGO BANK NA    3.550% 08/14/2023 DD 08/14/18      324  
WELLS FARGO COMMERCIAL LC5 ASB    2.528% 10/15/2045 DD 09/01/12      321  
WELLS FARGO COMMERCIAL LC5 A3    2.918% 10/15/2045 DD 09/01/12      1,080  
WELLS FARGO & CO    3.000% 10/23/2026 DD 10/25/16      778  
WALMART INC    3.700% 06/26/2028 DD 06/27/18      152  
UNITEDHEALTH GROUP INC    2.750% 02/15/2023 DD 10/22/12      895  
U S TREASURY NOTE    2.875% 07/31/2025 DD 07/31/18      1,618  
US TREAS-CPI INFLAT    0.750% 07/15/2028 DD 07/15/18      769  
U S TREASURY NOTE    2.250% 02/15/2027 DD 02/15/17      1,243  
U S TREASURY NOTE    1.625% 05/15/2026 DD 05/15/16      616  
U S TREASURY NOTE    2.625% 06/30/2023 DD 06/30/18      3,639  
U S TREASURY NOTE    2.750% 05/31/2023 DD 05/31/18      2,325  
U S TREASURY NOTE    2.750% 02/15/2028 DD 02/15/18      12,183  
U S TREASURY BOND    3.000% 11/15/2044 DD 11/15/14      1,118  
VENDEE MORTGAGE TRUST 199 1 2Z    7.750% 05/15/2022 DD 06/01/92      89  
MUFG UNION BANK NA    2.250% 05/06/2019 DD 05/06/14      638  
UBS-BARCLAYS COMMERCIAL C6 A4    3.244% 04/10/2046 DD 04/01/13      371  
TENNESSEE VALLEY AUTH BD    3.875% 02/15/2021 DD 02/08/11      1,206  
TD AMERITRADE HOLDING CORP    2.950% 04/01/2022 DD 03/09/15      366  
STANLEY BLACK & DECKER INC    4.250% 11/15/2028 DD 11/06/18      206  
CHARLES SCHWAB CORP/THE    3.200% 03/02/2027 DD 03/02/17      210  
SAN CLEMENTE LEASING LLC    3.030% 11/22/2022 DD 12/08/10      258  
ROCKWELL AUTOMATION INC    2.875% 03/01/2025 DD 02/17/15      355  
QUALCOMM INC    3.000% 05/20/2022 DD 05/20/15      74  
PUBLIC SERVICE ELECTRIC & GAS    3.700% 05/01/2028 DD 05/04/18      102  
PRESIDENT & FELLOWS OF HARVARD    2.300% 10/01/2023 DD 05/06/13      273  

 

18


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
ORACLE CORP    2.950% 11/15/2024 DD 11/09/17      219  
ORACLE CORP    3.250% 11/15/2027 DD 11/09/17      193  
ORACLE CORP    2.500% 05/15/2022 DD 05/05/15      303  
OCCIDENTAL PETROLEUM CORP    3.400% 04/15/2026 DD 04/04/16      323  
NUVEEN LLC 144A    4.000% 11/01/2028 DD 10/22/18      335  
NESTLE HOLDINGS INC 144A    3.350% 09/24/2023 DD 09/24/18      202  
MORGAN STANLEY BANK OF C13 A2    2.936% 11/15/2046 DD 12/01/13      42  
MORGAN STANLEY    3.700% 10/23/2024 DD 10/23/14      664  
MORGAN STANLEY    4.000% 07/23/2025 DD 07/23/15      20  
MICROSOFT CORP    3.125% 11/03/2025 DD 11/03/15      366  
MEDTRONIC INC    3.150% 03/15/2022 DD 03/15/15      234  
MEDTRONIC INC    2.500% 03/15/2020 DD 03/15/15      144  
KING INTERNATIONAL LEASING LLC    2.754% 10/15/2022 DD 11/17/10      274  
KKR GROUP FINANCE CO LLC 144A    6.375% 09/29/2020 DD 09/29/10      188  
JPMBB COMMERCIAL MORTGA C12 A5    3.664% 07/15/2045 DD 06/01/13      354  
JPMORGAN CHASE & CO    3.250% 09/23/2022 DD 09/24/12      1,086  
INTERNATIONAL BUSINESS MACHINE    3.625% 02/12/2024 DD 02/12/14      874  
INTEL CORP    3.700% 07/29/2025 DD 07/29/15      444  
HOME DEPOT INC/THE    3.900% 12/06/2028 DD 12/06/18      179  
HOME DEPOT INC/THE    3.750% 02/15/2024 DD 09/10/13      435  
GENERAL DYNAMICS CORP    3.375% 05/15/2023 DD 05/11/18      76  
GENERAL DYNAMICS CORP    2.875% 05/11/2020 DD 05/11/18      250  
GNMA II POOL #0005115    4.500% 07/20/2041 DD 07/01/11      348  
GNMA II POOL #0005082    4.500% 06/20/2041 DD 06/01/11      334  
GNMA II POOL #0004802    5.000% 09/20/2040 DD 09/01/10      473  
GNMA II POOL #0005280    4.000% 01/20/2042 DD 01/01/12      384  
GMF FLOORPLAN OWNER 1 A1 144A    1.960% 05/17/2021 DD 05/31/16      567  
GNMA II POOL #0MA5652    4.500% 12/20/2048 DD 12/01/18      2,073  
GNMA II POOL #0MA5596    4.500% 11/20/2048 DD 11/01/18      2,067  
GNMA II POOL #0MA5265    4.500% 06/20/2048 DD 06/01/18      117  
GNMA II POOL #0MA5193    4.500% 05/20/2048 DD 05/01/18      564  
GNMA II POOL #0MA5331    4.500% 07/20/2048 DD 07/01/18      5,878  
GNMA II POOL #0MA3377    4.000% 01/20/2046 DD 01/01/16      686  
GNMA II POOL #0MA3311    4.000% 12/20/2045 DD 12/01/15      167  
GNMA II POOL #0MA3106    4.000% 09/20/2045 DD 09/01/15      2,488  
GNMA II POOL #0MA2962    4.000% 07/20/2045 DD 07/01/15      3,752  
GNMA II POOL #0MA2893    4.000% 06/20/2045 DD 06/01/15      1,450  
GNMA II POOL #0MA2755    4.000% 04/20/2045 DD 04/01/15      91  
GNMA II POOL #0MA2304    4.000% 10/20/2044 DD 10/01/14      87  
GNMA II POOL #0MA2149    4.000% 08/20/2044 DD 08/01/14      2,191  
GNMA II POOL #0MA2679    4.000% 03/20/2045 DD 03/01/15      2,380  
GNMA II POOL #0MA1601    4.000% 01/20/2044 DD 01/01/14      1,715  

 

19


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
GE CAPITAL CREDIT CARD MAS 2 A    2.220% 01/15/2022 DD 02/02/12      1,539  
FORD CREDIT AUTO OWNE 2 A 144A    2.030% 12/15/2027 DD 06/28/16      166  
FORD CREDIT FLOORPLAN MAS 5 A1    1.950% 11/15/2021 DD 12/13/16      1,434  
FNMA POOL #0MA0878    4.000% 10/01/2031 DD 09/01/11      418  
FNMA POOL #0AB2775    4.500% 04/01/2041 DD 03/01/11      296  
FNMA POOL #0890375    4.500% 08/01/2023 DD 10/01/11      37  
FNMA POOL #0BM4343    4.500% 05/01/2048 DD 07/01/18      2,988  
FNMA POOL #0BC3481    3.500% 02/01/2046 DD 02/01/16      9  
FNMA POOL #0BA4700    3.500% 11/01/2045 DD 11/01/15      10  
FNMA POOL #0BA5324    3.500% 11/01/2045 DD 11/01/15      15  
FNMA POOL #0BA3084    3.500% 12/01/2045 DD 12/01/15      8  
FNMA POOL #0BA2978    3.500% 11/01/2045 DD 11/01/15      9  
FNMA POOL #0BA2899    3.500% 11/01/2045 DD 11/01/15      42  
FNMA POOL #0BA3553    3.500% 11/01/2045 DD 11/01/15      9  
FNMA POOL #0AZ8683    3.500% 01/01/2046 DD 01/01/16      10  
FNMA GTD REMIC P/T 05-19 PA    5.500% 07/25/2034 DD 02/01/05      96  
FNMA GTD REMIC P/T 04-W1 2A2    7.000% 12/25/2033 DD 01/01/04      260  
FNMA POOL #0AZ5196    3.500% 08/01/2045 DD 08/01/15      6  
FNMA POOL #0AZ2709    3.500% 06/01/2045 DD 06/01/15      10  
FNMA POOL #0AZ2665    3.500% 10/01/2045 DD 10/01/15      26  
FNMA POOL #0AZ2637    3.500% 09/01/2045 DD 09/01/15      21  
FNMA POOL #0AZ2619    3.500% 08/01/2045 DD 08/01/15      13  
FNMA POOL #0AZ2604    3.500% 08/01/2045 DD 08/01/15      9  
FNMA POOL #0AZ1367    3.500% 05/01/2045 DD 05/01/15      10  
FNMA POOL #0AZ1223    3.500% 06/01/2045 DD 06/01/15      17  
FNMA POOL #0AZ0054    3.500% 07/01/2045 DD 07/01/15      8  
FNMA POOL #0AY6303    3.500% 02/01/2045 DD 03/01/15      52  
FNMA POOL #0AY4781    3.500% 03/01/2045 DD 03/01/15      12  
FNMA POOL #0AY4203    3.500% 05/01/2045 DD 05/01/15      72  
FNMA POOL #0AY4450    3.500% 02/01/2045 DD 02/01/15      17  
FNMA POOL #0AY2930    3.500% 04/01/2045 DD 04/01/15      8  
FNMA POOL #0AX7714    3.500% 02/01/2045 DD 02/01/15      18  
FNMA POOL #0AX6373    3.500% 02/01/2045 DD 02/01/15      9  
FNMA POOL #0AX3358    3.500% 11/01/2045 DD 11/01/15      13  
FNMA POOL #0AT8390    3.500% 06/01/2043 DD 06/01/13      1,369  
FNMA POOL #0AS6188    3.500% 11/01/2045 DD 10/01/15      651  
FNMA POOL #0AR8305    3.500% 05/01/2043 DD 05/01/13      1,964  
FNMA POOL #0AQ0817    3.500% 12/01/2042 DD 12/01/12      1,297  
FNMA POOL #0AL7951    3.500% 01/01/2046 DD 01/01/16      297  
FNMA POOL #0AL7910    3.500% 02/01/2045 DD 12/01/15      813  
FNMA POOL #0AL7495    3.500% 10/01/2045 DD 10/01/15      320  
FNMA POOL #0AL7232    3.500% 09/01/2045 DD 08/01/15      473  

 

20


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
FNMA POOL #0AJ4050    4.000% 10/01/2041 DD 10/01/11      395  
FNMA POOL #0AJ3107    4.000% 01/01/2042 DD 01/01/12      325  
FNMA POOL #0AI8618    4.000% 12/01/2041 DD 12/01/11      413  
FHLMC MULTICLASS MTG 4604 HA    2.500% 05/15/2045 DD 08/01/16      491  
FHLMC MULTICLASS MTG 4594 PA    3.000% 11/15/2044 DD 06/01/16      718  
FHLMC MULTICLASS MTG 4585 DA    3.000% 06/15/2045 DD 05/01/16      985  
FHLMC MULTICLASS MTG 4570 PA    3.000% 03/15/2044 DD 04/01/16      653  
FHLMC MULTICLASS CTF K715 A2    2.856% 01/25/2021 DD 05/01/14      1,895  
FHLMC MULTICLASS MTG 4016 KV    4.000% 02/15/2025 DD 03/01/12      610  
FHLMC MULTICLASS MTG 3896 PA    4.000% 03/15/2040 DD 07/01/11      177  
FHLMC MULTICLASS MTG 3895 AM    5.000% 08/15/2039 DD 07/01/11      63  
FEDERAL REALTY INVESTMENT TRUS    2.550% 01/15/2021 DD 09/28/15      163  
FNMA GTD REMIC P/T 16-43 MA    3.000% 10/25/2045 DD 06/01/16      814  
FNMA GTD REMIC P/T 15-92 PA    2.500% 12/25/2041 DD 11/01/15      203  
FNMA GTD REMIC P/T 2013-83 A    3.500% 09/25/2039 DD 07/01/13      180  
FNMA GTD REMIC P/T 13-13 MA    4.000% 01/25/2043 DD 02/01/13      275  
FNMA GTD REMIC P/T 12-M9 A2    2.482% 04/25/2022 DD 08/01/12      119  
FEDERAL NATL MTG ASSN    1.875% 09/24/2026 DD 09/27/16      1,312  
FEDERAL NATL MTG ASSN    6.625% 11/15/2030 DD 11/03/00      1,649  
FHLMC POOL #G6-7713    4.000% 06/01/2048 DD 05/01/18      2,724  
FHLMC POOL #G6-7700    3.500% 08/01/2046 DD 08/01/16      1,808  
FHLMC POOL #U9-5026    3.500% 07/01/2042 DD 07/01/12      214  
FHLMC POOL #U9-0065    3.500% 08/01/2042 DD 08/01/12      236  
FHLMC POOL #Q0-4439    3.500% 11/01/2041 DD 10/01/11      59  
FHLMC POOL #G0-8079    5.000% 09/01/2035 DD 09/01/05      236  
FHLMC POOL #G1-4183    5.000% 07/01/2025 DD 06/01/11      57  
DUKE ENERGY CAROLINAS LLC    3.950% 11/15/2028 DD 11/08/18      205  
DISCOVER CARD EXECUTION A3 A3    1.850% 10/16/2023 DD 04/19/16      1,146  
COMMIT TO PUR GNMA II JUMBOS    5.000% 01/20/2049 DD 01/01/19      4,163  
COMCAST CORP    3.150% 02/15/2028 DD 08/07/17      47  
COMCAST CORP    3.300% 02/01/2027 DD 01/10/17      26  
CITIBANK NA    3.050% 05/01/2020 DD 05/01/18      399  
CITIBANK NA    2.000% 03/20/2019 DD 03/20/17      1,805  
CITIBANK CREDIT CARD ISS A1 A1    1.750% 11/19/2021 DD 12/08/16      2,375  
CHASE ISSUANCE TRUST A2 A    1.370% 06/15/2021 DD 06/17/16      1,112  
CHASE ISSUANCE TRUST A7 A7    2.160% 09/15/2024 DD 10/09/12      902  
CENTERPOINT ENERGY TRANSI 1 A3    3.028% 10/15/2025 DD 01/19/12      790  
CAPITAL ONE MULTI-ASSET A5 A5    1.660% 06/17/2024 DD 08/25/16      708  
BP CAPITAL MARKETS AMERICA INC    3.224% 04/14/2024 DD 10/14/18      73  
BP CAPITAL MARKETS AMERICA INC    4.500% 10/01/2020 DD 10/01/18      840  
BP CAPITAL MARKETS AMERICA INC    4.234% 11/06/2028 DD 11/06/18      180  
BOEING CO/THE    3.450% 11/01/2028 DD 10/31/18      148  

 

21


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

Identity of Issue

  

Description of Investment

   Current Value  
BOEING CO/THE    2.600% 10/30/2025 DD 10/29/15      237  
BRANCH BANKING & TRUST CO    3.625% 09/16/2025 DD 09/16/15      755  
BAKER HUGHES A GE CO LLC / BAK    3.337% 12/15/2027 DD 12/11/17      285  
AUTOMATIC DATA PROCESSING INC    3.375% 09/15/2025 DD 09/15/15      94  
ARIZONA PUBLIC SERVICE CO    2.950% 09/15/2027 DD 09/11/17      175  
APPLE INC    2.850% 05/06/2021 DD 05/06/14      901  
AMERICAN EXPRESS CREDIT AC 3 A    1.770% 11/15/2022 DD 04/25/17      532  
AMAZON.COM INC    3.150% 08/22/2027 DD 02/22/18      362  
ALLY MASTER OWNER TRUST 1 A2    2.700% 01/17/2023 DD 02/14/18      1,886  
COMMIT TO PUR FNMA SF MTG    4.500% 01/01/2049 DD 01/01/19      8,284  
STANDARD CHARTERED PLC 144A    VAR RT 01/20/2023 DD 10/04/18      470  
LLOYDS BANK PLC    VAR RT 05/07/2021 DD 05/08/18      396  
HSBC HOLDINGS PLC    VAR RT 05/18/2024 DD 05/18/18      195  
HSBC HOLDINGS PLC    VAR RT 03/13/2023 DD 03/13/17      377  
GLAXOSMITHKLINE CAPITAL PLC    2.850% 05/08/2022 DD 05/09/12      522  
AFRICAN DEVELOPMENT BANK    2.310% 07/14/2021      2,463  
AFRICAN DEVELOPMENT BANK    2.625% 03/22/2021 DD 03/22/18      1,460  
BANCO SANTANDER SA    VAR RT 04/12/2023 DD 04/12/18      392  
SHELL INTERNATIONAL FINANCE BV    3.875% 11/13/2028 DD 11/13/18      925  
ING GROEP NV    3.150% 03/29/2022 DD 03/29/17      295  
SCHLUMBERGER INVESTMENT S 144A    3.300% 09/14/2021 DD 09/14/11      601  
MIZUHO FINANCIAL GROUP IN 144A    2.632% 04/12/2021 DD 04/12/16      417  
CREDIT AGRICOLE SA/LONDON 144A    2.500% 04/15/2019 DD 04/15/14      874  
BNP PARIBAS SA 144A    3.500% 03/01/2023 DD 03/01/18      556  
BNP PARIBAS SA    2.375% 05/21/2020 DD 05/21/15      346  
SOUND POINT CLO XX 3A A1A 144A    VAR RT 10/26/2031 DD 10/10/18      600  
SOUND POINT CLO V-R 1RA A 144A    VAR RT 07/18/2031 DD 07/18/18      600  
NASSAU 2018-II LTD IIA A 144A    VAR RT 10/15/2031 DD 11/20/18      449  
CIFC FUNDING 2018-II 3A A 144A    VAR RT 07/18/2031 DD 07/20/18      1,048  
ROYAL BANK OF CANADA    VAR RT 04/30/2021 DD 04/30/18      223  
BANK OF MONTREAL    VAR RT 04/13/2021 DD 04/13/18      746  
ROYAL BANK OF CANADA    3.200% 04/30/2021 DD 04/30/18      225  
MASTER CREDIT CARD T 1A A 144A    2.260% 07/21/2021 DD 01/31/17      922  
GOLDEN CREDIT CARD T 5A A 144A    1.600% 09/15/2021 DD 09/20/16      999  
     

 

 

 
        318,266  

*   DREYFUS GOVERNMENT CASH

MANAGEMENT FUND

  

REGISTERED INVESTMENT

    COMPANY: 12,269,762 UNITS

     12,270  

Adjustment from fair value to contract value for fully benefit-responsive investment contracts

        3,113  
     

 

 

 

 

22


Table of Contents

AT&T SAVINGS AND SECURITY PLAN

EIN 43-1301883, PLAN NO. 004

SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2018

(Dollars in Thousands)

 

 

Identity of Issue

  

Description of Investment

  

Current Value

TOTAL INTEREST INCOME FUND

      333,649
Global Equity Fund     

BLACKROCK US EQUITY MARKET FUND F

  

COMMON/COLLECTIVE TRUST

FUND: 6,806,003 UNITS

   134,218
Mid and Small Cap Stock Fund          

BLACKROCK EXTENDED

EQUITY MARKET FUND F

  

COMMON/COLLECTIVE TRUST

FUND: 4,725,113 UNITS

   279,882
International Stock Fund          

BLACKROCK EAFE

EQUITY INDEX FUND F

  

COMMON/COLLECTIVE TRUST

    FUND: 4,665,419 UNITS

   172,834
Interest Bearing Cash          

*   DREYFUS GOVERNMENT CASH

MANAGEMENT FUND

  

REGISTERED INVESTMENT

    COMPANY: 4,290,613 UNITS

   1,998
Loan Fund      

*   NOTES RECEIVABLE FROM

PARTICIPANTS

   4.24% - 10.50%    100,110
     

 

TOTAL

      $2,159,991
     

 

 

*

Party-in-interest

 

23


Table of Contents

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed by the undersigned thereunto duly authorized.

 

  AT&T Savings and Security Plan
  By: AT&T Services, Inc.,
  Plan Administrator for the Foregoing Plan
By  

/s/ Debra L. Dial

  Debra L. Dial
  Senior Vice President and Controller

Date: June 28, 2019


Table of Contents

EXHIBIT INDEX

Exhibit identified below, Exhibit 23 filed herein as exhibit hereto.

 

Exhibit

Number

    
23    Consent of Independent Registered Public Accounting Firm

Exhibit 23

Form 11-K for 2018

File No. 1-8610

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statement (Form S-8, No. 333-189789) of our report dated June 28, 2019, relating to the statements of net assets available for benefits as of December 31, 2018 and 2017, the statement of changes in net assets available for benefits for the year ended December 31, 2018, and the supplemental schedules of delinquent contributions for the year ended December 31, 2018, and assets (held at end of year) as of December 31, 2018, of the AT&T Savings and Security Plan, which appears in this Annual Report on Form 11-K of the AT&T Savings and Security Plan for the year ended December 31, 2018.

 

/s/ BKD, LLP

San Antonio, Texas

June 28, 2019

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SEC Filings