SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 11-K
_________________
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☒
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ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For the fiscal year ended December 31, 2019
OR
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☐
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For the transition period from
to _______
Commission file number: 1-12744
MARTIN MARIETTA
SAVINGS and INVESTMENT PLAN
(Full title of the plan and the address of the plan,
if different from that of the issuer named below)
MARTIN MARIETTA MATERIALS, INC.
2710 Wycliff Road
Raleigh, North Carolina 27607
(Name of issuer of the securities held pursuant to the plan and the
address
of its principal executive office)
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Financial Statements and supplemental schedule
Martin Marietta Savings and Investment Plan
As of December 31, 2019 and 2018
and For the Year Ended December 31, 2019
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Page 2 of 20
Martin
Marietta
Savings and Investment Plan
Audited Financial Statements and Supplemental Schedule
As of December 31, 2019 and 2018 and For the Year Ended December
31, 2019
Contents
Page 3 of 20
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Plan Administrator and Plan Participants
Martin Marietta Savings and Investment Plan
Raleigh, North Carolina
Opinion on the Financial Statements
We
have audited the accompanying statements of net assets available
for benefits of the Martin Marietta Savings and Investment Plan
(the “Plan”) as of December 31, 2019 and 2018, and the related
statement of changes in net assets available for benefits for the
year ended December 31, 2019, and the related notes and schedule
(collectively referred to as the “financial statements”). In
our opinion, the financial statements present fairly, in all
material respects, the net assets available for benefits of the
Plan as of December 31, 2019 and 2018, and the changes in net
assets available for benefits for the year ended December 31, 2019
in conformity with accounting principles generally accepted in the
United States of America.
Basis for Opinion
These financial statements are the responsibility of Martin
Marietta Materials, Inc., as Plan administrator. 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.
Page 4 of 20
Supplementary
Information
The supplemental information in the accompanying schedule of assets
(held at end of year) as of December 31, 2019, has been subjected
to audit procedures performed in conjunction with the audits of the
Plan’s financial statements. The supplemental
information is presented for the purpose of additional analysis and
is not a required part of the basic financial statements but
includes supplemental information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The
supplemental information is the responsibility of the Plan's
management. Our audit procedures included determining whether the
supplemental information reconciles to the financial statements or
the underlying accounting and other records, as applicable, and
performing procedures to test the completeness and accuracy of the
information presented in the supplemental information. In forming
our opinion on the supplemental information, we evaluated whether
the supplemental information, including its form and content, is
presented in conformity with the Department of Labor’s Rules and
Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. In our opinion, the
supplemental information is fairly stated, in all material
respects, in relation to the financial statements as a whole.
/s/ Dixon Hughes Goodman LLP
We have served as the Plan's auditor since 2006.
Raleigh, North Carolina
June 26, 2020
Page 5 of 20
Martin Marietta Savings and Investment Plan
Statements of Net Assets Available for Benefits
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December 31
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2019
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2018
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(In Thousands)
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Assets
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Investments at fair value:
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|
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Collective trust funds
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$
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418,422
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$
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342,776
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Mutual funds
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150,720
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|
|
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126,118
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Martin Marietta Materials, Inc. Common Stock Fund
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63,076
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45,133
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|
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632,218
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|
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514,027
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Receivables:
|
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|
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Employee contributions
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550
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–
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Martin Marietta Materials, Inc. contributions
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222
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–
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Notes receivable from participants
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19,977
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18,867
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20,749
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18,867
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Net assets available for benefits
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$
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652,967
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$
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532,894
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See accompanying notes to the financial statements.
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Page 6 of 20
Martin Marietta Savings and Investment Plan
Statement of Changes in Net Assets Available for Benefits
For the Year Ended December 31, 2019
(in thousands)
Additions to net assets attributed to:
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Investment income:
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Net appreciation in fair value of investments
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$
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128,238
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Interest and dividend income
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1,954
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130,192
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Interest on notes receivable from participants
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1,073
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Contributions:
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Employees
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39,622
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Martin Marietta Materials, Inc.
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17,229
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Rollovers
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2,697
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59,548
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Total additions
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190,813
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Deductions from net assets attributed to:
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Benefits paid to participants
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69,923
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Administrative expenses
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817
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Total deductions
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70,740
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Net change
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120,073
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Net assets available for benefits:
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Beginning of year
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532,894
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End of year
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$
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652,967
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See accompanying notes to the financial statements.
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Page 7 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements
Basis of Accounting
The financial statements of the Martin Marietta Savings and
Investment Plan (the Plan) are prepared on the accrual basis of
accounting in conformity with accounting principles generally
accepted in the United States of America (GAAP).
Use of Estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect
certain reported amounts, changes therein and related
disclosures. Accordingly, actual results could differ
from those estimates and assumptions.
Investment Valuation and Income Recognition
Investments are reported at fair value. Fair value, as defined
under GAAP, 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.
Purchases and sales of securities are recorded on a trade-date
basis. Interest income is recognized on the accrual basis.
Dividends are recorded on the ex-dividend date. Net appreciation or
depreciation includes the Plan’s gains and losses on investments
purchased and sold as well as held during the year.
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid
principal balance plus any accrued but unpaid interest. Related
fees are recorded as administrative expenses and are expensed when
they are incurred. Delinquent participant loans are reclassified as
distributions based upon the terms of the Plan.
Payments of Benefits
Benefits are recorded upon distribution; therefore, no liability is
recorded for distributions to participants who terminated during
the year but have chosen to defer payments.
Page 8 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
Administrative
Expenses
The Plan's administrative expenses are paid by either the Plan or
Martin Marietta Materials, Inc. (the Company), as provided by the
plan document. Certain administrative functions are performed by
employees of the Company. No such employee receives compensation
from the Plan. Expenses relating to specific participant
transactions (notes receivable and distributions) are charged
directly to the participant's account.
Subsequent Events
The Plan has evaluated subsequent events through the date of filing
this Form 11-K.
2.
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Description of the Plan
|
The following description of the Plan provides only general
information. Participants should refer to the summary plan
description for a more complete description of the Plan’s
provisions.
General
The Plan is a defined contribution plan providing eligible
employees of the Company an opportunity to participate in an
individual savings and investment program providing tax deferred
savings or tax-free growth. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974.
Wells Fargo Bank, N.A. (Wells Fargo) serves as the Plan’s trustee
and recordkeeper.
Contributions
Employees are eligible to enroll in the Plan as soon as
administratively possible upon hire. Participants may elect to
contribute basic contributions as defined in the Plan document as
the first 6% of their base pay, subject to applicable Internal
Revenue Code (the Code) limitations on allowable compensation. The
Company begins to match the participants’ annual basic
contributions as soon as administratively possible upon hire,
regardless of the type of contribution (before-tax, after-tax or
Roth). The amount of the Company’s match is equal to 100% for the
first percent of basic contributions and 50% of the next 5% of
basic contributions. The match is credited to participant accounts
each pay period. Certain participants are not eligible for the
Company’s contributions, as defined by the Plan.
Page 9 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
Certain
participants may also elect to make additional supplemental
contributions, which are not considered for purposes of
computing the Company’s match. A participant’s before-tax combined
basic and supplemental contributions may not exceed the lesser of
25% of that
participant’s base
pay or $56,000
for
2019.
Participants age 50 or older may make additional before-tax
contributions that are not subject to the 25% Plan
limit.
Unless an affirmative election as defined by the Plan is made,
employees are automatically enrolled in the Plan and deemed to have
elected to contribute 3% of base pay. The 3% contribution increases
by 1% on the second January 1 after automatic enrollment begins and
every January 1 thereafter until the before-tax contribution
reaches 7% of base pay. Participants may make an
affirmative election at any time to contribute a different
amount.
Contributions are automatically invested in a target date fund that
is closest to the date the participant attains age 65, unless
otherwise designated by the participant. The target date funds seek
to provide investors with an appropriate level of risk and return
by investing in a mix of stocks, bonds and cash. The allocation is
adjusted to become more conservative (investing more in bonds and
cash) as the target date approaches and the participant begins to
use the funds on or around the target date. At target date, some
exposure to equities is retained to continue to provide investment
returns during retirement.
The Plan provides the option of making after-tax contributions up
to 17% of base pay to the Plan, in addition to, or in lieu of,
before-tax contributions. However, the combined amount of after-tax
and before-tax contributions cannot exceed a total of 25% of base
pay, subject to certain restrictions for highly compensated
employees.
The Plan also provides the option for Roth 401(k) contributions.
Under this option, a participant pays the federal and state income
taxes on the amount contributed at the time of contribution. Any
earnings on Roth 401(k) contributions are not taxed as long as the
participant’s distribution is a qualified distribution. A
participant’s Roth 401(k) contributions are subject to the same
limits as regular before-tax basic and supplemental
contributions. Additionally, the combined amount of
before-tax, after-tax and Roth 401(k) contributions cannot exceed a
total of 25% of base pay, subject to certain restrictions for
highly compensated employees.
Participants may change the overall percentage of their
contributions in 1% increments and may change investment elections
for future before-tax, after-tax, Roth 401(k) and matching
contributions. In addition, participants may change the investment
mix of the accumulated value of prior contributions among the
investment options daily. The Plan also allows for spot transfers
in which a specific dollar amount may be transferred from one
investment option to another.
Page 10 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
Investment
Options
Participants direct the investment of their accounts into the
following investment options offered by the
Plan: BlackRock LifePath® Portfolios; Wells Fargo Stable
Return Fund F; Wells Fargo Core Bond CIT F, Class I; Wells
Fargo/BlackRock S&P 500 Index CIT F; Vanguard International
Growth Fund, Admiral Shares; Harbor Capital Appreciation Fund;
American Funds Washington Mutual R6; Vanguard Explorer Fund,
Admiral Shares; and Northern MidCap Index. Contributions,
allocations and transfers to the Martin Marietta Materials, Inc.
Common Stock Fund (MMMI Fund) are no longer an
option.
Participant Accounts
Each participant’s account is credited with the participant’s and
Company’s contributions and allocations of earnings. The
participant’s account is charged with benefit payments, transaction
fees related to notes receivable from participants and
distributions, and an allocation of losses and administrative
expenses. Allocations are based on participant earnings or account
balances, as defined. The benefit to which a participant is
entitled is the benefit that can be provided from the participant’s
vested account.
Vesting
Participants are immediately 100% vested in the value of their
accounts plus actual earnings thereon, including Company
contributions.
Notes Receivable from Participants
The Plan provides for certain participants to borrow from their own
investment accounts. All loans must meet specific terms and
conditions of the Plan and are subject to applicable regulations of
the Code. The minimum loan amount is $1,000. The maximum loan is
the lesser of 50% of the total account balance or $50,000 minus the
highest outstanding loan balance from the past 12 months. Personal
loans are available to participants in terms of up to 5 years, and
primary residence loans are available for terms of up to 15 years.
Such loans bear interest at a fixed rate, established upon loan
request, which is equal to the Wells Fargo prime rate plus 1%. All
loans are due in full immediately upon termination of employment.
In addition, the Plan provides for in-service withdrawals to
participants that meet specific conditions of financial hardship,
as defined in the Plan and in accordance with current specific
regulations under the Code. Participants who are still working at
the age of 59½ may qualify for special withdrawal rights and
privileges as defined in the Plan. At December 31, 2019, interest
rates on participant loans outstanding ranged from 3.25% to
9.5%. Principal and interest is paid ratably through
payroll deductions.
Page 11 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
Payment
of Benefits
Upon separation from the Company due to death, disability,
termination or retirement, participants may receive the full
current value of their contributions and the Company’s
contributions in either a lump-sum payment or various installment
options as provided by the Plan. Amounts contributed on a
before-tax basis may be withdrawn, without penalty, only upon
demonstration of financial hardship, disability, or after the
participant reaches age 59½ years. Participants eligible to receive
a distribution from the Plan may elect a lump-sum payment or
annual, semi-annual, quarterly or monthly installments over a
period elected by the participants (subject to the Code’s required
minimum distribution rules). The accounts of participants who
receive installment payments remain invested in the funds indicated
by the participant.
Plan Termination
Although the Company expects to continue the Plan indefinitely, the
Board of Directors of the Company may terminate the Plan for any
reason at any time. If the Plan is terminated, each participant or
former participant shall receive a payment equal to the value of
the participant's account.
Page 12 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
3.
|
Fair
Value Measurements
|
Fair value, as defined under GAAP, 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. The framework for measuring fair value 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) and the lowest priority to unobservable
inputs (Level 3). GAAP establishes a three-tier fair value
hierarchy, which prioritizes the inputs used in measuring fair
value. These tiers include:
|
•
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Level 1: Quoted
prices in active markets for identical assets or liabilities that
the Plan can access at the measurement date.
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•
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Level 2: Inputs
other than quoted prices included within Level 1 that are
observable for the asset or liability, either directly or
indirectly, such as:
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o
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Quoted prices for similar assets
or liabilities in active markets
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o
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Quoted prices for identical or
similar assets or liabilities in inactive markets
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o
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Inputs other than quoted prices
that are observable for the asset or liability
|
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o
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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.
|
•
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Level 3:
Unobservable inputs about which little or no market data exists,
therefore requiring an entity to develop its own
assumptions.
|
Assets and liabilities are classified in their entirety based on
the lowest level of input that is significant to the fair value
measurement. The Plan’s assessment of the significance of a
particular input to the fair value measurement requires judgment,
and may affect the valuation of fair value assets and liabilities
and their placement within the fair value hierarchy levels.
The following is a description of the valuation methodologies used
for assets measured at fair value. The methods described below may
produce a fair value calculation that may not be indicative of net
realizable value or reflective of future fair values. Furthermore,
while the Plan 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 these
assets could result in a different fair value measurement at the
reporting date.
Page 13 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
There
have been
no changes
in the methodologies
used as of December 31, 2019
and 2018.
Mutual funds
Mutual funds are publicly traded investments, and are valued daily
at the closing price reported on the active market in which the
securities are traded.
Collective trust funds
These funds are valued at the net asset value (NAV) of units of a
bank collective trust. The NAV, as provided by the trustee, is used
as a practical expedient to estimate fair value. The NAV is based
on the fair value of the underlying investments held by the fund
less its liabilities. The practical expedient would not be used
when it is determined to be probable that the funds will sell the
investment for an amount different than the reported
NAV. Participant transactions (purchases and sales) may
occur daily. The collective trust funds are not required to be
classified within a level on the fair value hierarchy.
Stable value collective trust fund
The Plan invests in a stable value collective trust fund for which
quoted prices are not available in active markets for identical
instruments. The NAV, as provided by the trustee, is used as a
practical expedient to estimate fair value. This practical
expedient would not be used if it is determined to be probable that
the fund will sell the investment for an amount different from the
reported NAV. Participant transactions (purchases and sales) may
occur daily. If the Plan initiates a full redemption of the stable
value collective trust fund, the issuer reserves the right to
require a 12-month notification in order to ensure that securities
liquidations will be carried out in an orderly business manner. The
stable value collective trust fund is not required to be classified
within a level on the fair value hierarchy.
MMMI Fund
The MMMI Fund is comprised of the Company stock plus a cash
equivalent component. The NAV, as provided by the trustee, is used
as a practical expedient to estimate fair value. This practical
expedient would not be used if it is determined to be probable that
the fund will sell the investment for an amount different from the
reported NAV. Participant transactions, limited to sales only, may
occur daily. The MMMI Fund is not required to be classified within
a level on the fair value hierarchy.
Page 14 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
The
following table sets forth by level, within the
fair value hierarchy, the Plan’s assets at fair value as of
December 31:
|
2019
|
|
Level 1
|
|
Total
|
|
(In Thousands)
|
Mutual funds
|
$150,720
|
|
$150,720
|
Investments measured at NAV (a)
|
|
|
481,498
|
Total
|
|
|
$632,218
|
|
|
|
|
|
2018
|
|
Level 1
|
|
Total
|
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(In Thousands)
|
Mutual funds
|
$126,118
|
|
$126,118
|
Investments measured at NAV (a)
|
|
|
387,909
|
Total
|
|
|
$514,027
|
(a)
|
In accordance with GAAP, certain investments that were measured at
NAV per share (or its equivalent) have not been classified in the
fair value hierarchy. The fair value amounts presented
in this table are intended to permit reconciliation of the fair
value hierarchy to the line items presented in the statements of
net assets available for benefits.
|
Page 15 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
The
following table sets forth a summary of the Plan’s investment funds
with a reported estimated fair value using NAV per share at
December 31:
|
|
|
|
|
|
|
|
|
|
|
|
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Fair Value
|
|
|
|
|
|
|
2019
|
|
|
2018
|
|
Unfunded Commitment
|
Redemption Frequency
|
Other Redemption Restrictions
|
Redemption Notice Period
|
|
(In Thousands)
|
|
|
|
|
|
Wells Fargo Stable Return
Fund F
|
$
|
65,043
|
|
|
$
|
63,806
|
|
None
|
Immediate
|
90-day wait to transfer to competing fund
|
12 months
|
Wells Fargo/BlackRock S&P 500
Index CIT F
|
|
77,537
|
|
|
|
64,292
|
|
None
|
Immediate
|
None
|
None
|
Wells Fargo Core Bond CIT F,
Class I
|
|
16,649
|
|
|
|
14,523
|
|
None
|
Immediate
|
None
|
None
|
Blackrock LifePath® Portfolios
|
|
259,193
|
|
|
|
200,155
|
|
None
|
Immediate
|
None
|
None
|
Collective Trust Funds
|
|
418,422
|
|
|
|
342,776
|
|
|
|
|
|
Martin Marietta Materials, Inc.
Common Stock Fund (a)
|
|
63,076
|
|
|
|
45,133
|
|
None
|
Immediate
|
None
|
None
|
|
$
|
481,498
|
|
|
$
|
387,909
|
|
|
|
|
(a)
|
Seeks to invest in shares of the Company’s common stock and cash
equivalent reserves. The change in the fair value is
attributable to dividends paid and appreciation/depreciation in the
Company’s stock price. See also Note 5.
|
The Internal Revenue Service has determined and informed the
Company by letter dated June 27, 2014, that the Plan and related
trust are designed in accordance with the applicable sections of
the Code. The Plan has been amended since receiving the
determination letter. However, the Plan administrator believes the
Plan is designed and is currently being operated in compliance with
the applicable requirements of the Code.
GAAP requires Plan management to evaluate tax positions taken by
the Plan and recognize a tax liability (or asset) if the Plan has
taken an uncertain position that more likely than not would not be
sustained upon examination by a taxing authority. The Plan
administrator has analyzed the tax positions taken by the Plan, and
has concluded that as of December 31, 2019 and 2018, there are no
uncertain positions taken or expected to be taken that would
require recognition of a liability or disclosure in the financial
statements. The Plan is subject to routine audits by taxing
jurisdictions; however, there are currently no audits for any tax
periods in progress.
Page 16 of 20
Martin Marietta Savings and Investment Plan
Notes to Financial Statements (continued)
5.
|
Exempt
Party-in-Interest Transactions
|
Certain Plan investments are shares of mutual funds and collective
trust funds managed by Wells Fargo. The Plan paid certain expenses
related to the Plan operations and investment activity to various
service providers, including Wells Fargo. Total administrative
expenses were $817,000 for the year ended December 31, 2019. These
transactions qualify as exempt party-in-interest transactions.
The MMMI Fund is managed by the Company’s Benefit Plan Committee.
The MMMI Fund invests in shares of the Company’s common stock and
in cash equivalent reserves for liquidity purposes. As
approximately 99% of the MMMI Fund represents common stock shares,
its return closely mirrors the return on the underlying stock. The
MMMI Fund utilizes unitized accounting, which allows the MMMI Fund
to operate like a mutual fund in that it holds a combination of two
investments that are priced each day and totaled to give the MMMI
Fund a single unit value. The MMMI Fund’s NAV differs from the
Company’s publicly-reported stock price. Participants’ accounts
hold equivalent shares of the Company’s common
stock.
At December 31, 2019 and 2018, the Plan held, at the participants’
discretion, 222,000 shares and 259,000 shares, respectively, of the
Company’s common stock. At December 31, 2019 and 2018, the MMMI
Fund had a historical cost basis of $22,830,000 and $26,066,000,
respectively. During the year ended December 31, 2019, the Plan
recognized dividend income of $492,000 related to these shares.
Contributions, allocations and transfers to the MMMI Fund are no
longer an option.
6.
|
Risks and Uncertainties
|
The Plan invests in various investment securities. Investment
securities, in general, are exposed to various risks such as
interest rate, credit and overall market volatility. Due to the
level of risk associated with certain investment securities, it is
at least reasonably possible that changes in the values of
investment securities will occur in the near term and that such
changes could materially affect participants’ account balances and
the amounts reported in the statements of net assets available for
benefits.
Subsequent to the date of the statement of net assets available for
benefits, the novel strain of coronavirus (COVID-19) became a
global pandemic that has adversely impacted economic activity and
market conditions. The impact of the COVID-19 pandemic on the
global and domestic economy and financial markets is currently not
fully known.
Page 17 of 20
Martin Marietta Savings and Investment Plan
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EIN: 56-1848578 Plan
Number: 006
|
|
Schedule H, Line 4i – Schedule of Assets
|
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(Held at End of Year)
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
(c)
|
|
|
|
|
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(b)
|
Description of Investment
|
|
|
|
|
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Identity of Issue,
|
Including Maturity Date,
|
|
(e)
|
|
|
Borrower, Lessor, or
|
Rate of Interest, Collateral,
|
(d)
|
Current
|
|
(a)
|
Similar Party
|
Par or Maturity Value
|
Cost
|
Value
|
|
|
|
|
|
(in thousands)
|
|
*
|
Wells Fargo Bank, N.A.
|
Wells Fargo/BlackRock S&P 500 Index CIT F
|
|
$
|
77,537
|
|
*
|
Wells Fargo Bank, N.A.
|
Wells Fargo Stable Return Fund F
|
|
|
65,043
|
|
*
|
Martin Marietta Materials, Inc.
|
Common Stock Fund
|
|
|
63,076
|
|
|
Harbor Funds
|
Harbor Capital Appreciation Fund
|
|
|
47,787
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2025 Q
|
|
|
43,952
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index Retirement Q
|
|
|
42,780
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2030 Q
|
|
|
41,273
|
|
|
Washington Mutual
|
American Funds Washington Mutual R6
|
|
|
40,121
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2035 Q
|
|
|
36,135
|
|
|
The Vanguard Group
|
Vanguard International Growth Fund, Admiral Shares
|
|
|
32,488
|
|
|
The Vanguard Group
|
Vanguard Explorer Fund, Admiral Shares
|
|
|
29,709
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2040 Q
|
|
|
26,558
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2045 Q
|
|
|
25,562
|
|
|
BlackRock Institutional Trust Company, N.A.
|
Blackrock Lifepath® Index 2050 Q
|
|
|
22,525
|
|
*
|
Wells Fargo Bank, N.A.
|
Wells Fargo Core Bond CIT F, Class I
|
|
|
16,649
|
|
|
BlackRock Institutional Trust Company, N.A.
|
BlackRock Lifepath® Index 2055 Q
|
|
|
13,566
|
|
|
BlackRock Institutional Trust Company, N.A.
|
BlackRock Lifepath® Index 2060 Q
|
|
|
6,842
|
|
|
Northern Bank
|
Northern MidCap Index
|
|
|
615
|
|
*
|
Participant loans**
|
Interest rates ranging from 3.25% to 9.50%, maturing
through July 2034
|
|
|
19,977
|
|
|
|
|
|
$
|
652,195
|
|
|
|
|
|
|
|
|
|
Note: Cost information has not been included in column
(d) because all investments are participant directed.
|
|
|
* Indicates party-in-interest to the Plan.
|
|
|
** The accompanying financial statements classify participant loans
as notes receivable from participants.
|
|
See Report of Independent Registered Public Accounting Firm.
Page 18 of 20
SIGNATURES
THE PLAN. Pursuant to the
requirements of the Securities Exchange Act of 1934, the plan
administrator of the below named plan has duly caused this annual
report to be signed on its behalf by the undersigned hereunto duly
authorized.
|
MARTIN MARIETTA SAVINGS and INVESTMENT PLAN
|
|
|
|
|
|
By: Martin Marietta Materials, Inc.
|
|
Plan
Administrator
|
|
|
|
|
|
By: Benefit Plan Committee
|
|
|
|
|
|
By: /s/ James
A. J.
Nickolas
|
|
James A. J.
Nickolas
|
Date: June 26, 2020
Page 19 of 20
EXHIBIT
INDEX
Exhibit No.
|
|
Document
|
23.01
|
|
Consent of Dixon Hughes Goodman LLP
|
Page 20 of 20
Martin Marietta Materials (NYSE:MLM)
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