NOTES TO THE FINANCIAL STATEMENTS
The following description of the CARBO Ceramics Inc. Savings and Profit Sharing Plan (the Plan) provides only general
information. Participants should refer to the Plan agreement for a more complete description of the Plans provisions, which is available from CARBO Ceramics Inc. (the Company). The Plan is subject to the provisions of the Employee Retirement
Income Security Act of 1974, as amended (ERISA).
General
The Plan is a contributory defined contribution plan covering substantially all employees of the Company and its domestic subsidiaries,
StrataGen, Inc., and Falcon Technologies and Services, Inc. The Plan is administered by a committee that has been appointed by the Compensation Committee of the Board of Directors of the Company. The Plan allows for participants immediate
participation in the Plan without regard to age or service requirements. Effective August 1, 2012, the Plan entry date has changed from the first day of the each month of the year to immediate entry upon employment.
Contributions
Participants may contribute from 2% to 75% of their annual compensation, as defined in the Plan agreement. Effective May 1, 2013, the
Company automatically withholds 6% from a participants compensation as a salary reduction deferral unless the participant elects a greater or lower percentage (including zero) through a salary reduction agreement. Also effective May 1,
2013, the Plan has a contribution accelerated feature that automatically increases contributions by 1% each year on May 1, up to a maximum of 10% for participants who have elected to defer or who are automatically enrolled into the Plan. The
participants have the option to opt out of this accelerated feature. Prior to May 1, 2013, the Company withheld 3% from a participants compensation as a salary reduction deferral unless the participant elected a greater or lower
percentage (including zero) through a salary reduction agreement.
In addition, participants age 50 and over have the option to contribute
up to an additional $5,500 in pretax contributions through the Plans catch-up contribution provisions. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. The
Companys discretionary matching contribution to the Plan is equal to 50% of the participants contribution up to 6% of the participants compensation. The Company may also elect to make an additional discretionary profit-sharing
contribution. Participants are eligible to receive a discretionary profit-sharing contribution upon the completion of one year of service, which means 1,000 hours of service in a plan year, and must be employed on December 31. Allocations of
discretionary profit-sharing contributions are made pro rata based on compensation to eligible participants. During 2013, the Company made discretionary profit-sharing contributions totaling $2,300,000. All contributions made to the Plan are
participant-directed into various investment options offered by the Plan and are subject to certain limitations under the Internal Revenue Code (the Code).
- 5 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
1.
|
|
Description of Plan (continued)
|
Participant Accounts
Each participants account is credited with the participants contributions and the Companys matching and/or profit-sharing
contributions and allocations of plan earnings, and is charged with an allocation of administrative expenses. Plan earnings are allocated based on the participants share of net earnings and losses of the participants respective elected
investment options. Allocations of administrative expenses are based on the participants account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participants vested
account.
Administrative Expenses
Plan administrative expenses are paid by either the Company or the Plan, as provided in the Plan agreement.
Vesting
Participants are
immediately 100% vested in employee contributions and plan investment earnings on those contributions. Employer discretionary matching and discretionary profit-sharing contributions and plan investment earnings on those contributions vest to
individual participants after attainment of certain years of service. After one year of service, the participant becomes 50% vested in employer contributions and is 100% vested after two years of service. On the occurrence of death, retirement,
disability, or Plan termination, a participant becomes fully vested in employer contributions and related earnings.
Participant Loans
In general, participants may borrow from their fund accounts a minimum of $1,000 up to a maximum of $50,000 or 50% of their vested
account balance, whichever is less, following the guidelines in the Plan agreement. Loan terms range from one to five years or up to a maximum of ten years for the purchase of a primary residence. The loans are secured by the balance in the
participants account and bear interest at a rate commensurate with local prevailing rates as determined by the Plans administrator. Principal and interest is paid ratably through monthly payroll deductions.
Effective January 1, 2011, the Plan was amended so that no loan may be made to a participant sooner than 30 days after the outstanding
loan balance of the prior loan has been repaid.
Distributions to Participants
Upon retirement, death, disability, or termination of employment, participants or their beneficiaries may receive the vested balance of their
accounts in the form of a lump-sum payment, or if eligible, in the form of an individual retirement account (IRA) rollover. Participants also are allowed to transfer their account balance to another tax deferred qualified plan. A participant may
withdraw all or a portion of his or her account in the event of financial hardship, as defined in the Plan agreement.
- 6 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
1.
|
|
Description of Plan (continued)
|
Forfeitures
Forfeitures of terminated employees nonvested account balances are used to reduce employer contributions and Plan expenses. Effective
January 1, 2012, prior to allocating participant forfeitures to pay Plan expenses, the Plan Administrator may use assets of the Plan held under any Expense Reimbursement Account to pay outstanding expenses as they occur. Unallocated
forfeiture balances as of December 31, 2013 and 2012 were approximately $17,000 and $103,000, respectively, and forfeitures used to reduce Company contributions and pay Plan expenses for 2013 were approximately $114,000.
2.
|
|
Significant Accounting Policies
|
Basis of Accounting
The financial statements of the Plan are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting
principles.
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, accompanying notes, and supplemental schedule. Actual results may differ from those estimates.
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 expense and are expensed when they are incurred. No allowance for credit losses has been recorded as of
December 31, 2013 or 2012. 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 benefit payment is recorded.
Investment Valuation
Prudential Financial, Inc. (Prudential) is the custodian of the Plan. The Plans funds are invested in mutual funds, CARBO Ceramics Inc.
common stock, and a guaranteed income fund (GIF). Investments are stated at fair value. Fair value is the price that could be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Mutual funds are valued at the closing fund share price based on market quotations on the last business day of the Plan year. Common stock is valued at the quoted market price on the last business day of the Plan year. See Note 3
for discussion of fair value measurements.
- 7 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
2.
|
|
Significant Accounting Policies (continued)
|
Investment
Valuation (continued)
The GIF invests in the Prudential Retirement Insurance and Annuity Companys general
accounts under a group annuity contract. The GIF is fully benefit-responsive and should be reported at fair value in the Plans statement of net assets available for benefits, with a corresponding adjustment to reflect these investments at
contract value. Due to the nature of the GIF, fair value approximates contract value. The investment in the GIF has no maturity date. Although not invoked in 2013 or 2012, and as explained further in Note 5, a discontinuance liquidation would result
in the return of contract value within 90 days; therefore, the Company believes that a discontinuance payment would be a reasonable determinant of the fair value and that fair value would approximate contract value due to the discontinuing period
being only 90 days. Contract value is the relevant measurement 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 contract value of the GIF represents contributions plus earnings, less participant withdrawals and administrative expenses.
Investment Transactions
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded
on the ex-dividend date. Net appreciation includes the Plans gains and losses on investments bought and sold as well as held during the year.
Risks and Uncertainties
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.
Payment of Benefits
Benefits are recorded when paid.
- 8 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
3.
|
|
Fair Value Measurements
|
FASB ASC 820 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. Fair value is defined as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date, i.e., an exit price. 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 under ASC 820 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 or liabilities in active markets;
|
|
|
|
Quoted prices for identical or similar assets or liabilities in inactive markets;
|
|
|
|
Inputs other than quoted 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 assets or liabilitys 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 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 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, 2013 and 2012.
- 9 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
3.
|
|
Fair Value Measurements (continued)
|
The following table set forth, by level, within the fair value hierarchy, the Plans
assets at fair value as of December 31, 2013.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets at Fair Value as of December 31, 2013
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Mutual funds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic equity funds
|
|
$
|
29,384,083
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
29,384,083
|
|
International equity funds
|
|
|
11,732,530
|
|
|
|
|
|
|
|
|
|
|
|
11,732,530
|
|
Fixed income funds
|
|
|
5,274,167
|
|
|
|
|
|
|
|
|
|
|
|
5,274,167
|
|
Asset allocation
|
|
|
3,824,941
|
|
|
|
|
|
|
|
|
|
|
|
3,824,941
|
|
Other
|
|
|
242,718
|
|
|
|
|
|
|
|
|
|
|
|
242,718
|
|
Common stocks
|
|
|
3,074,745
|
|
|
|
|
|
|
|
|
|
|
|
3,074,745
|
|
Guaranteed income fund
|
|
|
|
|
|
|
|
|
|
|
12,327,489
|
|
|
|
12,327,489
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets at fair value
|
|
$
|
53,533,184
|
|
|
$
|
|
|
|
$
|
12,327,489
|
|
|
$
|
65,860,673
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table set forth, by level, within the fair value hierarchy, the Plans assets at fair value
as of December 31, 2012.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets at Fair Value as of December 31, 2012
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Mutual funds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic equity funds
|
|
$
|
20,642,697
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
20,642,697
|
|
International equity funds
|
|
|
10,390,899
|
|
|
|
|
|
|
|
|
|
|
|
10,390,899
|
|
Fixed income funds
|
|
|
4,693,082
|
|
|
|
|
|
|
|
|
|
|
|
4,693,082
|
|
Asset allocation
|
|
|
3,457,149
|
|
|
|
|
|
|
|
|
|
|
|
3,457,149
|
|
Other
|
|
|
288,763
|
|
|
|
|
|
|
|
|
|
|
|
288,763
|
|
Common stocks
|
|
|
2,004,211
|
|
|
|
|
|
|
|
|
|
|
|
2,004,211
|
|
Guaranteed income fund
|
|
|
|
|
|
|
|
|
|
|
11,009,189
|
|
|
|
11,009,189
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets at fair value
|
|
$
|
41,476,801
|
|
|
$
|
|
|
|
$
|
11,009,189
|
|
|
$
|
52,485,990
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 10 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
3.
|
|
Fair Value Measurements (continued)
|
Level 3 Gains and Losses
The table below sets forth a summary of changes in the fair value of the Plans Level 3 investment asset, the Guaranteed Income Fund, for
the year ended December 31, 2013.
|
|
|
|
|
Balance, beginning of year
|
|
$
|
11,009,189
|
|
Transfers into Level 3
|
|
|
|
|
Transfers out of Level 3
|
|
|
|
|
Realized gains/(losses)
|
|
|
|
|
Unrealized gains/(losses) relating to instruments still held at the reporting date
|
|
|
|
|
Purchases
|
|
|
3,812,265
|
|
Sales
|
|
|
(2,493,965
|
)
|
Issuances and settlements (net)
|
|
|
|
|
|
|
|
|
|
Balance, end of year
|
|
$
|
12,327,489
|
|
|
|
|
|
|
The following table presents information about significant unobservable inputs used in Level 3 fair value
measurements:
|
|
|
|
|
|
|
|
|
Instrument
|
|
Fair Value
|
|
Principle Valuation
Technique
|
|
Unobservable Inputs
|
|
Range of Significant
Input Values
|
Guaranteed Income Fund
|
|
$12,327,489
|
|
Fair Value =
Contract Value
|
|
Earnings at
guaranteed
crediting rate
|
|
Gross guaranteed
crediting rate must
be greater than or
equal to the contractual
minimum crediting rate
|
- 11 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
The Plan allows participants to invest a portion of their retirement savings in common stock of the Company. Participants
can invest up to 20% of any new contributions in the Companys common stock. Transfers by participants of existing account balances into Company common stock can be performed at any time, subject to insider trading rules established by the
Company, and cannot result in more than 20% of their total account balance invested in Company common stock.
Each participant is entitled
to exercise voting rights attributable to the shares allocated to their account and is notified by the Company prior to the time that such rights may be exercised. Prudential, the trustee of the Plan, is not permitted to 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 those shares that were allocated, unless the Plans Investment Committee directs the trustee otherwise. Participants
have the same voting rights in the event of a tender or exchange offer.
Individual investments that represent 5% or more of the
Plans assets available for benefits are as follows:
|
|
|
|
|
|
|
|
|
|
|
December 31
|
|
|
|
2013
|
|
|
2012
|
|
Prudential:
|
|
|
|
|
|
|
|
|
Guaranteed Income Fund
|
|
$
|
12,327,489
|
|
|
$
|
11,009,189
|
|
Mutual funds:
|
|
|
|
|
|
|
|
|
Allianz NFJ Dividend Value Admin
|
|
|
5,552,891
|
|
|
|
4,352,912
|
|
American Funds Europacific Growth R5
|
|
|
7,044,093
|
|
|
|
7,589,679
|
|
Franklin Growth Adv
|
|
|
6,883,725
|
|
|
|
5,296,630
|
|
Goldman Sachs Mid Cap Value A
|
|
|
(a)
|
|
|
|
3,217,945
|
|
Oakmark Equity & Income I
|
|
|
3,824,941
|
|
|
|
3,457,149
|
|
PIMCO Total Return Bond Fund Admin
|
|
|
(a)
|
|
|
|
3,712,687
|
|
|
(a)
|
Investment is less than 5%
|
During the year ended December 31, 2013, the Plans
investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in fair value as follows:
|
|
|
|
|
Mutual funds
|
|
$
|
8,634,231
|
|
Common stock
|
|
|
1,034,424
|
|
|
|
|
|
|
Total
|
|
$
|
9,668,655
|
|
|
|
|
|
|
- 12 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
5.
|
|
Contract With Insurance Companies
|
The Plan has entered into a group annuity contract issued by Prudential, which is a fully benefit-responsive investment.
Participants may ordinarily direct the withdrawal or transfer of all or a portion of their account balance at contract value. The account is credited with participant contributions plus earnings and charged for participant withdrawals and
administrative expenses. The issuer is contractually obligated to repay the principal at a specified interest rate that is guaranteed to the Plan.
The average yield earned by the Plan was 2.00% for the year ended December 31, 2013, and 2.35% for the year ended December 31, 2012.
The average yield earned by the Plan, adjusted to reflect the actual interest rate credited to participants, was 2.00% for the year ended December 31, 2013, and 2.35% for the year ended December 31, 2012. These rates are the same because
all interest credited to the Plan is credited to the participants. Interest is credited on contract balances using a single portfolio rate approach. Under this methodology, a single interest crediting rate is applied to all contributions
made regardless of the timing of those contributions. Interest crediting rates are reviewed on a semiannual basis for resetting.
When
establishing interest crediting rates, Prudential considers many factors, including current economic and market conditions, the general interest rate environment and both the expected and actual experience of a reference portfolio within the
issuers general account. These rates are established without the use of a specific formula. The minimum crediting rate under the contract is 1.50%.
Events that may limit the ability of the Plan to transact at contract value with the issuer are as follows: premature termination of the
contract by the Plan, plant closures, Company layoffs, Plan termination, bankruptcy, and Company mergers. In the case of these events, Prudential reserves the right to settle within 90 days or over time as specified in the group annuity contract.
The Company has made no such plans for the near future.
The contract includes a pool transfer limitation (the deferral provision).
Prudential has the contractual right to defer a transfer or distribution. If total distributions and transfers from the contracts pool exceed 10% of the pools balance as of January 1 in any one calendar year, the distribution or
transfer may be deferred by Prudential. During a deferral provision, any amount deferred will continue to receive credited interest. Retirement, termination, death or disability distributions, hardship withdrawals, and distributions required by Code
section 401(a)(9) payable from the guaranteed income fund will be paid and not deferred. The deferral provision was not invoked in 2013 or 2012.
At December 31, 2013, there were no amounts allocable to participants who had elected to withdraw from the Plan.
7.
|
|
Related-Party Transactions
|
Certain investments are managed by Prudential, the trustee of the Plan. Certain Plan assets are also invested in the common
stock of the Company. These transactions qualify as party-in-interest transactions. All of these transactions are exempt from prohibited transaction rules under ERISA. During 2013, the Plan received $30,761 in common stock dividends from the
Company.
- 13 -
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
NOTES TO THE FINANCIAL STATEMENTS
The underlying nonstandardized prototype plan has received an opinion letter from the Internal Revenue Service (IRS) dated
March 31, 2008, stating that the form of the Plan is qualified under Section 401(a) of the Code, and therefore, the related trust is tax-exempt. In accordance with Revenue Procedures 2012-6 and 2011-49, the Plan sponsor has determined that
it is eligible to and has chosen to rely on the current IRS prototype plan opinion letter. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan administrator has indicated that it will
take the necessary steps, if any, to bring the Plans 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, 2013, there are no uncertain tax 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. The Plan administrator believes it is
no longer subject to income tax examinations for years prior to 2010.
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions
at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.
The Plan has evaluated, for consideration of recognition or disclosure, subsequent events that have occurred through the
date of issuance of its financial statements, and has determined that no significant events occurred after December 31, 2013, but prior to the issuance of these financial statements that would have a material impact on its financial statements.
- 14 -
Supplemental Schedule
CARBO CERAMICS INC. SAVINGS AND PROFIT SHARING PLAN
EIN: 72-1100013 PN: 001
Schedule
H, Line 4(i) Schedule of Assets (Held at End of Year)
December 31, 2013
|
|
|
|
|
|
|
Identity of Issue, Borrower, or Similar Party
|
|
Description of Investment,
Including Maturity Date,
Rate of Interest, Collateral,
Par, or Maturity Value
|
|
Current Value
|
|
* Prudential Financial, Inc.:
|
|
|
|
|
|
|
|
|
|
Guaranteed Income Fund
|
|
274,314 units
|
|
$
|
12,327,489
|
|
|
|
|
Allianz NFJ Dividend Value Admin
|
|
345,544 units
|
|
|
5,552,891
|
|
|
|
|
Allianz NFJ Small Cap Value Admin
|
|
58,574 units
|
|
|
1,938,201
|
|
|
|
|
American Funds Europacific Growth R5
|
|
143,816 units
|
|
|
7,044,093
|
|
|
|
|
American Funds Fundamental Investors R5
|
|
19,917 units
|
|
|
1,035,506
|
|
|
|
|
Columbia Acorn Z
|
|
72,433 units
|
|
|
2,703,216
|
|
|
|
|
Franklin Growth Adv
|
|
105,433 units
|
|
|
6,883,725
|
|
|
|
|
Goldman Sachs Mid Cap Value IR
|
|
71,239 units
|
|
|
3,102,476
|
|
|
|
|
Invesco Global Real Estate Y
|
|
17,354 units
|
|
|
203,393
|
|
|
|
|
Loomis Sayles Bond Instl
|
|
32,884 units
|
|
|
498,514
|
|
|
|
|
Oakmark Equity & Income I
|
|
117,150 units
|
|
|
3,824,941
|
|
|
|
|
Oppenheimer Developing Markets Y
|
|
65,320 units
|
|
|
2,453,427
|
|
|
|
|
Oppenheimer International Small Co. Y
|
|
62,898 units
|
|
|
2,031,617
|
|
|
|
|
PIMCO All Assets Admin
|
|
200,607 units
|
|
|
2,427,349
|
|
|
|
|
PIMCO Real Return Bond Admin
|
|
4,039 units
|
|
|
44,310
|
|
|
|
|
PIMCO Total Return Bond Fund Admin
|
|
327,868 units
|
|
|
3,504,909
|
|
|
|
|
Principal MidCap S&P 400 Index R5
|
|
55,680 units
|
|
|
1,069,060
|
|
|
|
|
Principal Small Cap S&P 600 Index R5
|
|
24,217 units
|
|
|
612,934
|
|
|
|
|
* Prudential Jennison Natural Resources Z
|
|
4,741 units
|
|
|
242,718
|
|
|
|
|
* Prudential Jennison Small Company Z
|
|
87,832 units
|
|
|
2,522,542
|
|
|
|
|
* Prudential Stock Index Z
|
|
37,652 units
|
|
|
1,536,183
|
|
|
|
|
Templeton Global Bond Adv
|
|
93,692 units
|
|
|
1,226,434
|
|
|
|
|
* CARBO Ceramics Inc. common stock
|
|
26,386 units
|
|
|
3,074,745
|
|
|
|
|
* Participant loans
|
|
Maturities to 2023, at interest
ranging from 4.25% to 7.75%
|
|
|
2,068,609
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
$
|
67,929,282
|
|
|
|
|
|
|
|
|
*
|
Indicates party-in-interest to the Plan.
|
- 15 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator, which administers the Plan, has duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
CARBO Ceramics Inc. Savings and Profit Sharing Plan
|
DATE: June 25, 2014
|
|
|
|
|
|
|
|
|
|
|
Plan Administrator
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Ernesto Bautista, III
|
|
|
|
|
|
|
Ernesto Bautista, III
|
|
|
|
|
|
|
Vice President and Chief Financial Officer
|
- 16 -
Index to Exhibit
|
|
|
Exhibit number
|
|
Description
|
|
|
23.1
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
23.2
|
|
Consent of Independent Registered Public Accounting Firm
|
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