e11vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK
PURCHASE, SAVINGS AND SIMILAR PLANS
PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2006
or
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 1-31339
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
Weatherford International Ltd.
515 Post Oak Boulevard
Suite 600
Houston, TX 77027
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULES
1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Administrative Committee of the
Weatherford International, Inc. 401(k) Savings Plan:
We have audited the accompanying statements of net assets available for benefits of Weatherford
International, Inc. 401(k) Savings Plan as of December 31, 2006 and 2005, and the related statement
of changes in net assets available for benefits for the year ended December 31, 2006. 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 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 Plan’s internal control over financial reporting. Our
audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Plan’s internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, 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, 2006 and 2005, and the
changes in its net assets available for benefits for the year ended December 31, 2006, 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 schedules of assets (held at end of year) as of December
31, 2006, and delinquent participant contributions for the year then ended are presented for
purposes of additional analysis and are not a required part of the financial statements but are
supplementary information required by the Department of Labor’s Rules and Regulations for Reporting
and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental
schedules are the responsibility of the Plan’s management. The supplemental schedules have been
subjected to the auditing procedures applied in our audits of the financial statements and, in our
opinion, are fairly stated in all material respects in relation to the financial statements taken
as a whole.
/s/ Ernst & Young LLP
Houston, Texas
June 28, 2007
2
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2006 AND 2005
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2006 |
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2005 |
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ASSETS: |
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|
|
|
|
|
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Investments, at fair value |
|
$ |
392,258,525 |
|
|
$ |
293,882,666 |
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|
|
|
|
|
|
|
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Receivables- |
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|
|
|
|
|
|
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Participants’ contributions |
|
|
1,354,848 |
|
|
|
22,405 |
|
Company contributions |
|
|
1,404,201 |
|
|
|
11,456 |
|
Loan repayment receivable |
|
|
226,646 |
|
|
|
1,941 |
|
Accrued income receivable |
|
|
39,574 |
|
|
|
3,935 |
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Pending settlement |
|
|
12,167 |
|
|
|
128,305 |
|
|
|
|
|
|
|
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Total receivables |
|
|
3,037,436 |
|
|
|
168,042 |
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NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE |
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395,295,961 |
|
|
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294,050,708 |
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|
|
|
|
|
|
|
|
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Adjustment from fair value to contact
value for fully benefit-responsive
investment contracts |
|
|
1,409,962 |
|
|
|
1,217,639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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NET ASSETS AVAILABLE FOR BENEFITS |
|
$ |
396,705,923 |
|
|
$ |
295,268,347 |
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|
|
|
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|
|
|
The accompanying notes are an integral part of these financial statements.
3
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2006
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ADDITIONS: |
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Net appreciation in fair value of collective trusts |
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$ |
3,757,633 |
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Net appreciation in fair value of common stocks |
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4,732,447 |
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Net appreciation in fair value of mutual funds |
|
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12,023,893 |
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Interest income |
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898,285 |
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Dividend income |
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16,504,306 |
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37,916,564 |
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Contributions- |
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Participants |
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38,485,724 |
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Company |
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16,545,398 |
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Rollovers |
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5,346,545 |
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60,377,667 |
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Transfers from other plans |
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31,465,695 |
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Total additions |
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129,759,926 |
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DEDUCTIONS: |
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Benefits paid to participants and beneficiaries |
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28,257,315 |
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Administrative fees |
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65,035 |
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|
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|
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Total deductions |
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28,322,350 |
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NET INCREASE |
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101,437,576 |
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NET ASSETS AVAILABLE FOR BENEFITS, beginning of year |
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|
295,268,347 |
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NET ASSETS AVAILABLE FOR BENEFITS, end of year |
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$ |
396,705,923 |
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The accompanying notes are an integral part of these financial statements.
4
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2006
1. DESCRIPTION OF THE PLAN:
The following description of the Weatherford International, Inc. 401(k) Savings Plan (the Plan)
provides only general information. Participants should refer to the Plan document for a more
complete description of the Plan’s provisions.
General
The Plan is a defined contribution plan established by the board of directors (the Board of
Directors) of Weatherford International, Inc.
The Board of Directors appointed a committee (the Administrative Committee) to administer the Plan.
Merrill Lynch Trust Company (Merrill Lynch) serves as asset custodian and trustee of the Plan.
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as
amended (ERISA).
Effective June 26, 2002, Weatherford International Ltd. (the Company) became the parent holding
company of Weatherford International, Inc. following a corporate reorganization. Weatherford
International, Inc. continues to exist as an indirect, wholly owned subsidiary of the Company.
Eligibility
All employees, other than employees who are subject to collective bargaining agreements and have
not bargained to participate, employees who are nonresident aliens and receive no U.S.-source
income from the Company and employees who are members of other retirement plans sponsored by the
Company or one of its subsidiaries outside the United States or employed by an affiliate company
that has not adopted the Plan, are eligible to participate in the Plan on their dates of hire but
are not eligible to participate for purposes of the Company’s matching or discretionary
contributions until the employee has completed one year of continuous service.
Effective
January 1, 2006, the Precision Energy Services Plan and its
related trust (the PES Plan) merged into the Plan. Also effective January 1, 2006, Precision Energy Services, Inc. (PES) adopted the Plan and each employee
of PES on January 1, 2006 who was eligible to participate in the PES Plan became eligible to
participate in the Plan. Each employee of PES hired on or after January 1, 2006, is subject to the
eligibility provisions of the Plan.
Effective May 10, 2006, the Valkyrie Commissioning Services, Inc. 401(k) Savings Plan and its
related trust (the Valkyrie Plan) merged into the Plan and each employee of Valkyrie Commissioning
Services, Inc. (Valkyrie) on May 10, 2006 who was eligible to participate in the Valkyrie Plan
became eligible to participate in the Plan. Each employee of Valkyrie hired on or after May 10,
2006, is subject to the eligibility provisions of the Plan.
Effective July 10, 2006, the High Pressure Integrity, Inc. 401(k) Profit Sharing Plan and its
related trust (the HPI Plan) merged into the Plan and each employee of High Pressure Integrity,
Inc. (HPI) on July 10, 2006 who was eligible to participate in the HPI Plan became eligible to
participate in the Plan. Each employee of HPI hired on or after July 10, 2006, is subject to the
eligibility provisions of the Plan.
Contributions
An eligible employee may elect to contribute by payroll deductions to the Plan on a pre-tax basis
subject to certain limitations, up to 50 percent of his or her considered compensation, as defined
by the Plan and
5
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS — (Continued)
on an after tax basis, up to 16 percent of his or her considered compensation, as defined by the
Plan. The combination of employee contributions cannot exceed 50 percent of considered
compensation, as defined by the Plan. In addition, participants may contribute amounts
representing rollovers from other qualified plans.
Employees who are eligible to make elective deferrals under the Plan and who have attained the age
of 50 before the close of the Plan year are permitted to make catch-up contributions subject to
certain limitations.
The Company shall make matching contributions equal to 100 percent of the participant’s pre-tax
contributions up to 4 percent of considered compensation, as defined by the Plan. Considered
compensation used to calculate the Company match includes overtime, bonuses and commissions but
does not include relocation or severance pay. The Company, solely at the discretion of the Board
of Directors, may make additional discretionary contributions. There were no discretionary
contributions made for the year ended December 31, 2006.
Participant Accounts
Each participant’s account is credited with the participant’s contributions, the Company’s matching
contributions, an allocation of the Company’s discretionary contribution, if any, and Plan earnings
or losses thereon. Earnings or losses are allocated by investment based on the ratio of the
participant’s account invested in a particular investment to all participants’ accounts in that
investment.
Investment Options
Participants may invest in any of thirteen mutual funds, two collective trusts and Weatherford
International Ltd. common shares (Common Shares). Each participant who has invested in Common
Shares has the right to vote the shares in his or her account with respect to any matter that comes
before the shareholders for a vote. Shares of Grant Prideco, Inc. common stock received as a
result of a prior transaction may be sold and reinvested in other investment options, but no
additional shares may be purchased.
Vesting
Participants are immediately vested in their elective deferral account, rollovers from other
qualified plans, the participant’s Company match and discretionary contribution accounts.
Expenses of the Plan
During 2006, administrative fees incurred by the Plan were paid by the Company, except for
participant loan fees, which were paid from the account of the participant requesting the loan.
Participant Loans
Participants may borrow from their vested account balances a minimum of $1,000 up to a maximum
equal to the lesser of $50,000 reduced by the highest outstanding loan balance in the preceding one
year period or one half of the fair market value of the participant’s vested account balance. Loan
maturity dates range from one year to five years except when the loan is used to purchase a
participant’s principal residence. In the case of home loans, all such loans are required to be
repaid within ten years. The loans are fully secured by a pledge of the participant’s vested
account balance and bear interest at the prime rate as reported in The Wall Street Journal or at a
rate determined by the Administrative Committee.
6
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS — (Continued)
Withdrawals and Terminations
A participant may withdraw the value of his or her after-tax contributions or rollover
contributions to the Plan at any time and for any reason during the year, with a minimum withdrawal
of $500. The participant’s pre-tax contributions and Company contributions will be available to a
participant who has attained age 59-1/2 or in the event of severe and immediate financial hardship.
Withdrawals based on financial hardship result in a suspension of employee contributions for 6
months.
In the event of normal retirement, total and permanent disability or death while actively employed,
the full value of the participant’s account balance will be made available to the participant or
his or her beneficiary as a lump sum. Upon termination of employment, the participant’s entire
account balance will be available for withdrawal. If a participant has not elected otherwise, all
mandatory distributions in excess of $1,000 are automatically rolled-over into individual
retirement accounts selected by the Administrative Committee. Certain benefits related to other
forms of payment are protected by the Plan.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to
discontinue contributions at any time and to terminate the Plan subject to the provisions of ERISA.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Basis of Accounting
The accompanying financial statements are prepared and presented in accordance with the accrual
method of accounting.
New Accounting Pronouncement
In December 2005, the Financial Accounting Standards Board (FASB) issued FASB Staff Position 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). The FSP defines the circumstances in which an investment
contract is considered fully benefit-responsive and provides certain reporting and disclosure
requirements for fully benefit-responsive investment contracts in defined contribution health and
welfare and pension plans. The financial statement presentation and disclosure provisions of the
FSP are effective for financial statements issued for annual periods ending after December 15, 2006
and are required to be applied retroactively to all prior periods presented for comparative
purposes. The Plan has adopted the provisions of the FSP at December 31, 2006.
As required by the FSP, investments in the accompanying Statements of Net Assets Available for
Benefits include fully benefit-responsive investment contracts recognized at fair value. AICPA
Statement of Position 94-4-1, Reporting of Investment Contracts Held by Health and Welfare Benefit
Plans and Defined Contribution Pension Plans, as amended, requires fully benefit-responsive
investment contracts to be reported at fair value in the Plan’s
Statements of Net Assets Available
for Benefits with a corresponding adjustment to reflect these investments at contract value. The
requirements of the FSP have been applied retroactively to the Statement of Net Assets Available
for Benefits as of December 31, 2005 presented for comparative purposes. Adoption of the FSP had
no effect on the Statement of Changes in Net Assets Available for Benefits.
7
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS — (Continued)
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting
principles requires management to make estimates that affect the amounts reported in the financial
statements and accompanying notes and schedules. Actual results could differ from those estimates.
Valuation of Investments and Income Recognition
The Plan’s investments are stated at fair value except for its investment in the Retirement
Preservation Trust, which invests in fully benefit-responsive investment contracts. Investments in
mutual funds and common stocks are valued based on quoted market prices. Participant loans are
stated at cost, which approximates fair value.
The Retirement Preservation Trust (the Trust) is a common/collective fund which primarily invests
in synthetic guaranteed investment contracts (SICs), which are a combination of a portfolio of
securities plus wrapper contracts issued by financially responsible third-parties (typically a
financial institution). As the SICs are fully benefit-responsive investment contracts, the Trust
values its investments at contract value. Contract value represents principal plus accrued
interest. The fair value of SIC contracts include the value of the underlying securities and the
value of the wrapper contract. SIC wrapper contracts are valued by determining the difference
between the present value of the replacement cost of the wrapper contract and the present value of
the contractually obligated payments in the original wrapper contract. Securities underlying the
SICs primarily include debt securities which are traded in over-the-counter markets and valued at
the last available bid price or on the basis of values obtained by a pricing service.
Interest and dividend income is recorded when earned. Purchases and sales of securities are
recorded on a trade-date basis. Realized gains (losses) on the sale of investments and unrealized
appreciation (depreciation) in the fair value of investments are shown as net appreciation in fair
value of collective trusts, common stocks and mutual funds on the statement of changes in net
assets available for benefits. No dividends were paid on the Company’s Common Shares during 2006.
Payment of Benefits
Benefits are recorded when paid.
3. INVESTMENTS:
Individual investments that represent 5 percent or more of the Plan’s net assets available for
benefits at December 31, 2006 or 2005 are as follows:
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2006 |
|
2005 |
Retirement Preservation Trust (formerly, Merrill Lynch
Retirement Preservation Trust) (stated at contract value) |
|
$ |
74,208,535 |
|
|
$ |
67,646,584 |
|
Common Shares of Weatherford International Ltd. |
|
|
56,719,845 |
|
|
|
39,703,706 |
|
Davis New York Venture Fund |
|
|
46,018,071 |
|
|
|
33,614,215 |
|
Equity Index Trust (formerly, Merrill Lynch Equity Index Trust) |
|
|
28,407,623 |
|
|
|
23,951,889 |
|
Blackrock International Value Fund (formerly, Merrill Lynch
International Value Fund) |
|
|
27,266,979 |
|
|
|
14,221,534 |
|
PIMCO Total Return Fund |
|
|
26,031,266 |
|
|
|
18,742,592 |
|
Goldman Sachs Mid Cap Value Fund |
|
|
21,550,360 |
|
|
|
5,099,619 |
|
Blackrock Balanced Capital Fund, Inc. (formerly, Merrill Lynch
Balanced Capital Fund, Inc.) |
|
|
20,898,937 |
|
|
|
16,430,659 |
|
8
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS— (Continued)
4. ASSETS TRANSFERRED FROM OTHER PLANS:
The following amounts were transferred from other plans due to plan mergers during 2006 and are
included in Transfers from Other Plans in the accompanying Statement of Changes in Net Assets
Available for Benefits:
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| Month |
|
Plan |
|
Amount |
|
January |
|
Precision Energy Services Savings Plan |
|
$ |
30,502,709 |
|
May |
|
Valkyrie Commissioning Services, Inc. 401(k) Savings Plan |
|
|
295,537 |
|
July |
|
High Pressure Integrity, Inc. 401(k) Profit Sharing Plan |
|
|
667,449 |
|
|
|
|
|
|
|
|
|
|
|
$ |
31,465,695 |
|
|
|
|
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5. RISKS AND UNCERTAINTIES:
The Plan provides for various investments in collective trusts, mutual funds and common stocks.
Investment securities, in general, are exposed to various risks, such as interest rate, credit and
overall market volatility risks. Due to the level of risk associated with certain investment
securities, it is reasonably possible that changes in the values of investment securities will
occur in the near term and that such changes could materially affect the amounts reported in the
statements of net assets available for benefits and participant account balances.
6.
RELATED PARTY TRANSACTIONS:
Certain investments of the Plan are managed by Merrill Lynch Trust Company. Merrill Lynch Trust
Company is the trustee of the Plan and, therefore, these transactions qualify as party-in-interest
transactions. Additionally, a portion of the Plan’s assets are invested in the Company’s common
stock. Because the Company is the Plan Sponsor, transactions involving the Company’s common stock
qualify as party-in-interest transactions. All of these transactions are exempt from the
prohibited transactions rules.
7. TAX STATUS:
The Plan has received a determination letter from the Internal Revenue Service dated June 9, 2003,
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. Subsequent to this determination by the
Internal Revenue Service, the Plan was amended and restated. 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, as amended and restated, is qualified and the related trust is
tax exempt.
8. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500:
The following is a reconciliation of net assets available for benefits per the financial statements
at December 31, 2006 and 2005, to Form 5500:
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|
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|
|
| |
|
2006 |
|
|
2005 |
|
Net assets available for benefits per the financial statements |
|
$ |
396,705,923 |
|
|
$ |
295,268,347 |
|
Amounts allocated to withdrawing participants |
|
|
(252,552 |
) |
|
|
(2,953 |
) |
Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
|
|
(1,409,962 |
) |
|
|
¾ |
|
|
|
|
|
|
|
|
Net assets available for benefits per the Form 5500 |
|
$ |
395,043,409 |
|
|
$ |
295,265,394 |
|
|
|
|
|
|
|
|
9
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS— (Continued)
The
following is a reconciliation of the net increase in net assets available for benefits per the
financial statements for the year ended December 31, 2006, to Form 5500:
| |
|
|
|
|
Net increase in net assets available for benefits per the financial statements |
|
$ |
101,437,576 |
|
Less: Amounts allocated to withdrawing participants at December 31, 2006 |
|
|
(252,552 |
) |
Add: Amounts allocated to withdrawing participants at December 31, 2005 |
|
|
2,953 |
|
Less: Adjustment from fair value to contract value for fully
benefit-responsive investment contracts |
|
|
(1,409,962 |
) |
|
|
|
|
Net increase in net assets available for benefits per Form 5500 |
|
$ |
99,778,015 |
|
|
|
|
|
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that
have been processed and approved for payment prior to December 31, 2006 and 2005, but not yet paid
as of that date.
The accompanying financial statements present fully benefit-responsive contracts at contract value.
The Form 5500 requires fully benefit-responsive contracts to be reported at fair value.
9. SUBSEQUENT EVENTS:
Effective January 1, 2007, Omni Laboratories, Inc. 401(k) Savings & Investment Plan (the Omni Plan)
was merged into the Plan and each employee of the Omni Plan became eligible to participate in the
Plan. The account balances of participants in the Omni Plan totaling $2.2 million were transferred
to and received by the Plan during January 2007.
Effective January 1, 2007, the Company will automatically deduct and contribute to the Plan 2% of
the considered compensation for each newly eligible employee who has not voluntarily elected salary
deferral. No automatic deduction will be taken for those employees who have elected to defer a
different percentage of covered compensation or for those who have elected not to participate in
the salary deferral.
10
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
SCHEDULE H, LINE 4(a), SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
EIN: 04-2515019 PN:002
YEAR ENDED DECEMBER 31, 2006
| |
|
|
| Participant Contributions |
|
Total that Constitute Nonexempt |
| Transferred Late to Plan |
|
Prohibited Transactions |
$93,737*
|
|
$93,737* |
|
|
|
| * |
|
Lost earnings were remitted to the Plan on August 16,
2006. |
11
WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
SCHEDULE H, LINE 4(i), SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN: 04-2515019 PN:002
DECEMBER 31, 2006
| |
|
|
|
|
|
|
|
|
|
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| |
|
|
|
Principal Number |
|
|
|
|
| Identity of Issue |
|
Description of Investment |
|
of Units/ Shares |
|
|
Current Value |
|
COLLECTIVE TRUSTS: |
|
|
|
|
|
|
|
|
|
|
*Merrill Lynch Bank USA |
|
Equity Index Trust |
|
|
264,355 |
|
|
$ |
28,407,623 |
|
*Merrill Lynch Bank USA |
|
Retirement Preservation Trust |
|
|
74,208,535 |
|
|
|
72,798,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total collective trusts |
|
|
|
|
|
|
101,206,196 |
|
|
|
|
|
|
|
|
|
|
|
MUTUAL FUNDS: |
|
|
|
|
|
|
|
|
|
|
American Beacon Funds |
|
American Beacon Small Cap Value Fund |
|
|
401,315 |
|
|
|
8,507,883 |
|
American Funds |
|
American Growth Fund of America, Inc. |
|
|
241,605 |
|
|
|
7,939,137 |
|
*Blackrock, Inc. |
|
Blackrock Balanced Capital Fund, Inc. (formerly, Merrill Lynch Balanced Capital Fund, Inc.) |
|
|
762,457 |
|
|
|
20,898,937 |
|
*Blackrock, Inc. |
|
Blackrock Bond Fund, Inc. (formerly, Merrill Lynch Corporate Bond Intermediate Term Portfolio) |
|
|
304 |
|
|
|
3,494 |
|
*Blackrock, Inc. |
|
Blackrock Global Allocation Fund, Inc. (formerly, Merrill Lynch Global Allocation Fund, Inc.) |
|
|
774,982 |
|
|
|
14,112,422 |
|
*Blackrock, Inc. |
|
Blackrock International Value Fund (formerly, Merrill Lynch International Value Fund) |
|
|
876,470 |
|
|
|
27,266,979 |
|
Davis Venture Group |
|
Davis New York Venture Fund |
|
|
1,181,465 |
|
|
|
46,018,071 |
|
Federated Income Securities |
|
Federated Fund for US Government Securities |
|
|
96,059 |
|
|
|
735,812 |
|
Fidelity Investments |
|
Fidelity Advisors Small Cap Growth Fund |
|
|
626,264 |
|
|
|
14,198,948 |
|
Goldman Sachs |
|
Goldman Sachs Growth Opportunities Fund |
|
|
360,924 |
|
|
|
8,102,739 |
|
Goldman Sachs |
|
Goldman Sachs Mid Cap Value Fund |
|
|
553,851 |
|
|
|
21,550,360 |
|
MFS Investment Management |
|
MFS International New Discovery Fund |
|
|
461,007 |
|
|
|
12,603,925 |
|
PIMCO Mutual Funds |
|
Pimco Total Return Fund |
|
|
2,507,829 |
|
|
|
26,031,266 |
|
Van Kampen Investments |
|
Van Kampen Equity & Income Fund |
|
|
802,161 |
|
|
|
7,315,706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mutual funds |
|
|
|
|
|
|
215,285,679 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMON STOCKS: |
|
|
|
|
|
|
|
|
|
|
*Weatherford International Ltd. |
|
Common Shares of Weatherford International Ltd. |
|
|
1,357,259 |
|
|
|
56,719,845 |
|
Grant Prideco, Inc. |
|
Common stock of Grant Prideco, Inc. |
|
|
132,648 |
|
|
|
5,275,419 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total common stocks |
|
|
|
|
|
|
61,995,264 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER: |
|
|
|
|
|
|
|
|
|
|
*Merrill Lynch Trust Company |
|
Cash, interest-bearing |
|
|
|
|
|
|
272,647 |
|
*Participant loans |
|
Interest rates ranging from 5.0% to 10.5% with varying maturity dates |
|
|
|
|
|
|
13,498,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
|
|
$ |
392,258,525 |
|
|
|
|
|
|
|
|
|
|
|
*Party in interest.
12
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative
Committee, which administers the Plan, has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
| |
|
|
|
|
|
|
WEATHERFORD INTERNATIONAL, INC.
|
|
|
|
|
401(k) SAVINGS PLAN |
|
|
|
|
|
|
|
Date: June 28, 2007
|
|
/s/ Burt M. Martin |
|
|
|
|
|
|
|
|
|
Burt M. Martin |
|
|
|
|
Senior Vice President and General Counsel |
|
|
|
|
for Weatherford International, Inc . and |
|
|
|
|
Weatherford International Ltd. and |
|
|
|
|
Administrative Committee Member |
|
|
13
INDEX TO EXHIBITS
| |
|
|
| Exhibit |
|
|
| Number |
|
Description |
23.1 |
|
Consent of Independent Registered Public Accounting Firm |
14