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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
| x | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2005
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 1-8344
| A. | Full title of the plan and the address of the plan, if different from that of the issuer named below: |
Limited Brands, Inc.
Savings and Retirement Plan
| B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
Limited Brands, Inc.
Three Limited Parkway
P O BOX 16000
Columbus, Ohio 43216
Table of Contents
Limited Brands, Inc. Savings and Retirement Plan
Financial Statements
Years Ended December 31, 2005 and 2004
| 1 | ||
| Audited Financial Statements |
||
| 2 | ||
| 3 | ||
| 4 | ||
| Supplemental Schedules |
||
| Schedule H, Line 4(i) Schedule of Assets (Held At End of Year) |
15 | |
| Schedule G, Part III Financial Transaction Schedule-Non Exempt Transactions |
20 | |
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Directors of
Limited Brands, Inc. and the
Plan Administrator of the Limited Brands, Inc.
Savings and Retirement Plan
We have audited the accompanying statements of net assets available for benefits of The Limited Brands, Inc. Savings and Retirement Plan (the “Plan”) as of December 31, 2005 and 2004, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the 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, 2005 and 2004, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held at end of year as of December 31, 2005 and nonexempt transactions for the year ended December 31, 2005 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
Columbus, Ohio
June 26, 2006
1
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Limited Brands, Inc. Savings and Retirement Plan
Statements of Net Assets Available for Benefits
| December 31 | ||||||
| 2005 | 2004 | |||||
| Assets |
||||||
| Investments |
$ | 538,322,526 | $ | 497,501,323 | ||
| Receivable for contributions: |
||||||
| Employer |
29,630,943 | 28,457,418 | ||||
| Participants |
2,942,737 | 2,700,706 | ||||
| Total receivable for contributions |
32,573,680 | 31,158,124 | ||||
| Cash |
14,004 | 17,107 | ||||
| Due from brokers |
112,366 | 49,451 | ||||
| Accrued interest and dividends |
57,917 | 4,825,564 | ||||
| Total assets |
571,080,493 | 533,551,569 | ||||
| Liabilities |
||||||
| Administrative fees payable |
166,646 | 121,355 | ||||
| Due to brokers |
129,668 | 101,716 | ||||
| Total liabilities |
296,314 | 223,071 | ||||
| Net assets available for benefits |
$ | 570,784,179 | $ | 533,328,498 | ||
See accompanying notes.
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Limited Brands, Inc. Savings and Retirement Plan
Statements of Changes in Net Assets Available for Benefits
| Years Ended December 31 | ||||||
| 2005 | 2004 | |||||
| Additions: |
||||||
| Investment income: |
||||||
| Net appreciation in fair value of investments |
$ | 10,194,682 | $ | 39,866,608 | ||
| Earnings from investment contracts |
5,077,858 | 4,886,670 | ||||
| Earnings from mutual funds |
5,807,649 | 4,371,590 | ||||
| Dividends |
2,505,313 | 6,792,464 | ||||
| Earnings from common collective trusts |
179,579 | 46,910 | ||||
| Total investment income |
23,765,081 | 55,964,242 | ||||
| Contributions: |
||||||
| Employer |
44,208,050 | 43,766,521 | ||||
| Participant deferrals |
28,180,680 | 28,093,068 | ||||
| Participant rollovers |
1,250,397 | 1,531,440 | ||||
| Total contributions |
73,639,127 | 73,391,029 | ||||
| Total additions |
97,404,208 | 129,355,271 | ||||
| Deductions: |
||||||
| Distributions to participants |
58,857,829 | 49,804,242 | ||||
| Administrative expenses |
1,090,698 | 1,230,914 | ||||
| Total deductions |
59,948,527 | 51,035,156 | ||||
| Net increase prior to transfers |
37,455,681 | 78,320,115 | ||||
| Transfers: |
||||||
| Transfer of net assets available for benefits from plan of former affiliate |
— | 28,795 | ||||
| Net transfers |
— | 28,795 | ||||
| Net increase |
37,455,681 | 78,348,910 | ||||
| Net assets available for benefits: |
||||||
| Beginning of year |
533,328,498 | 454,979,588 | ||||
| End of year |
$ | 570,784,179 | $ | 533,328,498 | ||
See accompanying notes.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements
December 31, 2005 and 2004
1. Description of the Plan
General
The Limited Brands, Inc. Savings and Retirement Plan (the Plan) is a defined contribution plan covering certain employees of Limited Brands, Inc. and its affiliates (the Employer) who are at least 21 years of age and have completed a year of employment with 1,000 or more hours of service.
On November 22, 2004, Limited Brands, Inc. declared a special dividend of $1.23 per share of common stock, payable on January 4, 2005 to shareholders of record on December 22, 2004. On January 5, 2005, the Plan received these special dividends in the amount of $4,804,438, which have been included in accrued interest and dividends at December 31, 2004. No special dividends were declared during 2005.
The following description of the Plan provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.
4
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Contributions
Employer’s retirement contribution:
The Employer provides non-service and service related retirement contributions equal to a percentage of participants’ annual eligible compensation to those participants who are employed on the last day of the Plan year and have completed 500 hours of service during the Plan year. In addition, the service related retirement contribution also requires that the participant have five or more years of vesting service. The annual compensation of each participant taken into account under the Plan is limited to the maximum amount permitted under Section 401(a)(17) of the Internal Revenue Code. The annual compensation limits were $210,000 and $205,000 for the Plan years ended December 31, 2005 and 2004, respectively. The total retirement contribution percentages are as follows:
| Years of Service |
Earnings Less Than Social Security Wage Base |
Earnings Greater Than Social Security Wage Base | ||
| Less than 5 years (non-service related contribution) |
3% | 6% | ||
| 5 or more years (service related contribution including non-service related contributions) |
4% | 8% |
Employer’s matching contribution:
The Employer provides a matching contribution of 100% of the participant’s voluntary contributions up to 4% of the participant’s annual eligible compensation. A participant’s eligible compensation is equal to his or her qualified plan compensation less any compensation earned during a period for which the participant elected not to make voluntary contributions or was on suspension as a result of a hardship withdrawal.
5
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Participant’s voluntary contributions:
A participant may elect to make a voluntary tax-deferred contribution of 1% to 15% of his or her annual compensation up to the maximum permitted under Section 402(g) of the Internal Revenue Code adjusted annually ($14,000 and $13,000 for the years ended December 31, 2005 and 2004, respectively). This voluntary tax-deferred contribution may be limited by Section 401(k) of the Internal Revenue Code.
Effective January 1, 2005, Plan participants turning age 50 at any time before the end of the Plan Year whose contributions to the Plan reach either the maximum percent of his or her annual compensation allowed by the Plan or the maximum dollar amount allowed by the Plan, are eligible to make “catch up” contributions to the Plan. Catch-up contributions are voluntary and limited to a total of $4,000 for each eligible participant for 2005. Catch-up contributions are not eligible for employer matching contributions.
Investment Options
Both the Employer and participant contributions can be directed into various investment options offered by the Plan solely at the participant’s discretion. The Plan’s investment options currently offered include seven mutual funds, three common collective trusts, one pooled account of Employer’s common stock, one pooled account of guaranteed investment contracts, and self directed brokerage accounts. The Plan has two pooled accounts for the common stock of former affiliates into which no additional investments are allowed.
Also, certain investment options were changed as follows:
| Previous Investment Options |
New Investment Options |
Effective Date | ||
| ABN AMRO/Montag & Caldwell Balanced Fund |
American Balanced Fund | August 3, 2005 | ||
| AXP/RVS New Dimensions Fund |
Allianz CCM Capital Appreciation Fund | December 1, 2005 |
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Participant Accounts
Each participant’s account is credited with the participant’s and Employer contributions and allocated investment earnings and administrative expenses. Allocations are based on the participant’s account balances or earnings. The benefit to which a participant is entitled is equal to the vested balance in the participant’s account.
Vesting
A participant is fully and immediately vested for voluntary, rollover, and matching contributions and is credited with a year of vesting service in the Employer’s retirement contributions for each Plan year that they are credited with at least 500 hours of service. A summary of vesting percentages in the Employer’s retirement contributions follows:
| Years of Vested Service |
Percentage | |
| Less than 3 years |
0% | |
| 3 years |
20% | |
| 4 years |
40% | |
| 5 years |
60% | |
| 6 years |
80% | |
| 7 years |
100% |
Payment of Benefits
The full value of participants’ accounts become payable upon retirement, disability, or death. Upon termination of employment for any other reason, participants’ accounts, to the extent vested, become payable. Those participants with vested account balances greater than $1,000 have the option of leaving their accounts invested in the Plan until age 65. All benefits are paid as a lump-sum distribution. Those participants holding shares of Employer Securities have the option of receiving such amounts in whole shares of Employer Securities and cash for any fractional shares. Participants have the option of having benefits paid directly to an eligible retirement plan specified by the participant.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Payment of Benefits (continued)
A participant who is fully vested in his or her account and who has participated in the Plan for at least seven years may obtain an in-service withdrawal from his or her account based on the percentage amounts designated by the Plan. A participant may also request a hardship distribution due to an immediate and heavy financial need based on the terms of the Plan.
Amounts Allocated to Participants Withdrawn from the Plan
Amounts allocated, but not yet paid, to participants withdrawn from the Plan were $164,603 and $207,404 as of December 31, 2005 and 2004, respectively.
Forfeitures
Forfeitures are used to reduce the Employer’s required contributions, and if so elected by the Employer, to reduce administrative expenses. Forfeitures of $2,864,677 and $5,345,213 were used to reduce contributions for the years ended December 31, 2005 and 2004, respectively. Forfeitures of $116,287 and $47,854 were used for administrative expenses for the years ended December 31, 2005 and 2004, respectively. There were no unused forfeitures at December 31, 2005 or December 31, 2004.
Expenses and Fees
Expenses of the Plan are deducted from each participants’ accounts as follows: 1) an average annual participant fee of $17, was allocated to each participant based on their account balance as a percentage of the total plan balance; effective July 2005, the fee was lowered to $10 annually and is allocated equally to each participant at $2.50 per quarter. 2) a $10 disbursement fee for withdrawals and terminations, 3) a $3 fee for recurring installment disbursements, and 4) a $50 annual fee for a self directed brokerage account. Investments in the Limited Brands, Inc., Too, Inc., and Abercrombie & Fitch Co. stock funds are charged an administrative fee of 3 basis points through a reduction in earnings. Investments in the SARP Stable Value Fund are charged an administrative fee of 30 basis points through a reduction in earnings. The Employer pays administrative expenses incurred in excess of fees collected from participants by either direct payment or forfeitures. Expenses and fees excluding those paid directly have been reported in the financial statements as administrative expenses.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
1. Description of the Plan (continued)
Expenses and Fees (continued)
Brokerage fees, transfer taxes and other expenses incurred in connection with the investment of the Plan’s assets are added to the cost of investments purchased or deducted from the proceeds of investments sold.
2. Summary of Accounting Policies
Basis of Presentation
The accompanying financial statements have been prepared on the accrual basis of accounting, including investment valuation and income recognition.
Estimates
The Plan prepares its financial statements in conformity with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the reported amounts of net assets available for benefits at the date of the financial statements and the changes in net assets available for benefits during the reporting period and, when applicable, disclosures of contingent assets and liabilities at the date of the financial statements. Actual results could differ from these estimates.
Risks
The Plan provides for the various investment options as described in Note 1, Note 3, and Note 4. Any investment is exposed to various risks, such as interest rate, market and credit. These risks could result in a material effect on participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statements of changes in net assets available for benefits.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
2. Summary of Accounting Policies (continued)
Income Recognition
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.
Investment Valuation
Mutual funds are stated at fair value as determined by quoted market prices, which represents the net asset value of shares held by the Plan at year-end. Common stock is valued as determined by quoted market prices. The common collective trusts are valued on a daily basis. The value of each unit is determined by subtracting total liabilities from the total value of the assets, including accrued income, and dividing the amount remaining by the number of units outstanding on the valuation date. Investment contracts are recorded at contract value (Note 4).
Net Appreciation in Fair Value of Investments
Net realized and unrealized appreciation/(depreciation) is recorded in the accompanying statements of changes in net assets available for benefits as net appreciation in fair value of investments.
Benefit Payments
Benefits are recorded when paid.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
3. Investments
The Plan’s investments are held by the Ameriprise Trust Company, trustee of the Plan. The following table presents balances at December 31, 2005 and 2004 for the Plan’s current investment options. Investments that represent five percent or more of the Plan’s net assets are separately identified.
| December 31 | ||||||
| 2005 | 2004 | |||||
| Investments at fair value as determined by: |
||||||
| Quoted market price |
||||||
| Common stock: |
||||||
| Limited Brands, Inc. |
$ | 88,124,039 | $ | 89,896,415 | ||
| Other |
10,288,098 | 9,464,033 | ||||
| 98,412,137 | 99,360,448 | |||||
| Mutual funds: |
||||||
| Vanguard Institutional Index Fund |
98,532,493 | 97,763,208 | ||||
| Allianz CCM Capital Appreciation Fund |
55,859,070 | — | ||||
| AXP New Dimensions Fund |
— | 59,028,904 | ||||
| ABN AMRO/Montag & Caldwell Balanced Fund |
— | 23,820,858 | ||||
| Dodge & Cox Stock Fund |
33,520,807 | 20,961,929 | ||||
| Other |
69,214,302 | 30,963,236 | ||||
| 257,126,672 | 232,538,135 | |||||
| Total quoted market price |
355,538,809 | 331,898,583 | ||||
| Contract cost |
||||||
| Investment contracts |
130,361,000 | 118,579,466 | ||||
| Estimated fair value |
||||||
| Common collective trusts |
52,421,435 | 47,015,302 | ||||
| Other |
1,282 | 7,972 | ||||
| Total investments at fair value |
$ | 538,322,526 | $ | 497,501,323 | ||
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
3. Investments (continued)
The Plan’s investments (including investments bought, sold, and held during the year) appreciation/(depreciation) in value for the years ended December 31, 2005 and 2004, is set forth below:
| December 31 | |||||||
| 2005 | 2004 | ||||||
| Net appreciation/(depreciation) in fair value as determined by: |
|||||||
| Quoted market price |
|||||||
| Common stock |
$ | (961,583 | ) | $ | 23,303,478 | ||
| Mutual funds |
8,185,555 | 14,085,908 | |||||
| Other |
(642 | ) | 5,552 | ||||
| 7,223,330 | 37,394,938 | ||||||
| Estimated fair value |
|||||||
| Common collective trusts |
2,971,352 | 2,471,670 | |||||
| Net appreciation in fair value |
$ | 10,194,682 | $ | 39,866,608 | |||
4. Investment Contracts
The Plan, under the SARP Stable Value Fund investment option, enters into investment contracts with insurance companies and financial institutions. The contracts are included in the financial statements at contract value, because they are fully benefit responsive. Contract value represents contributions made under the contract, plus earnings, less Plan withdrawals and administrative expenses.
These contracts provide a liquidity guarantee, by financially responsible third parties, of principal and previously accrued interest which can be utilized for liquidations, transfers, or hardship withdrawals initiated by Plan participants exercising their rights under the terms of the on-going Plan. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The estimated fair value of the investment contracts at December 31, 2005 and 2004 was $128,848,291 and $119,717,038, respectively. The contracts were credited with an interest rate ranging from 4.16% to 7.28% at December 31, 2005 and 3.16% to 8.24% at December 31, 2004. The average yield for the investment contracts was approximately 4.62% and 4.31% for the years ended December 31, 2005 and 2004, respectively. The crediting rate is based on an agreed upon rate with the issuer, but cannot be less than zero. Contracts with insurance companies are for a fixed rate for the term of the contract and the contracts with financial institutions have a quarterly crediting interest-rate reset.
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
5. Tax Status
The Plan has received a determination letter from the Internal Revenue Service dated November 1, 2002, 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. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Sponsor believes the Plan is qualified and the related trust is tax exempt. The Plan Sponsor has indicated that it will take the necessary steps, if any, to maintain the Plan’s qualified status.
6. Plan Administration
The Administrative Committee, comprised of members appointed by the Board of Directors of the Employer, administers the Plan. The Board of Directors delegated the day to day administrative duties to the Administrative Committee.
7. Plan Termination
Although the Employer has not expressed any intent to do so, the Employer has the right under the Plan to discontinue its contributions at any time. Limited Brands, Inc. has the right at any time, by action of its Board of Directors, to terminate the Plan subject to provisions of ERISA. Upon Plan termination or partial termination, participants will become fully vested in their accounts.
8. Parties-in-Interest
Ameriprise Trust Company, trustee of the Plan, its subsidiaries and affiliates maintain and manage certain of the investments of the Plan for which the Plan is charged.
9. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500:
| December 31 | ||||||||
| 2005 | 2004 | |||||||
| Net assets available for benefits per the financial statements |
$ | 570,784,179 | $ | 533,328,498 | ||||
| Amounts allocated to withdrawing participants |
(164,603 | ) | (207,404 | ) | ||||
| Net assets available for benefits per Form 5500 |
$ | 570,619,576 | $ | 533,121,094 | ||||
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Limited Brands, Inc. Savings and Retirement Plan
Notes to Financial Statements (continued)
9. Reconciliation of Financial Statements to Form 5500 (continued)
The following is a reconciliation of benefits paid to participants per the financial statements to Form 5500:
| Year Ended December 31, |
||||
| Benefits paid to participants per the financial statements |
$ | 58,857,829 | ||
| Amounts allocated to withdrawing participants: |
||||
| At December 31, 2005 |
164,603 | |||
| At December 31, 2004 |
(207,404 | ) | ||
| Benefits paid to participants per Form 5500 |
$ | 58,815,028 | ||
Amounts allocated to withdrawing participants are recorded on Form 5500 for benefit claims that have been processed and approved for payment prior to December 31 but not yet paid as of that date.
10. Prohibited Transactions
In May 2006, the Employer determined that it had borrowed funds from the Plan on April 14, 2005 through an improper reduction of a matching contribution from interest earned within a holding account held by the Plan for transfer of funds prior to allocation to participants. The Employer discontinued this practice and reimbursed all amounts to the Plan on June 2, 2006.
The total amount borrowed from the Plan was $17,989 during 2005. Additionally, interest accumulated on this amount was $836 as of December 31, 2005 and has been recorded as a receivable from the Employer.
11. Recently Issued Accounting Standard
In December 2005, the Financial Accounting Standards Board (FASB) issued staff position (FSP) No. 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, which amends SOP 94-4. This FSP requires the Plan to value the holdings of benefit responsive investment contracts at fair value, as well as has enhanced disclosure requirements. Current reporting of this type of investment is at contract value. This FSP is effective for financial statement periods ending after December 15, 2006, at which time the Plan will adopt it. The Plan does not expect the adoption of this FSP to have a significant effect on the financial statements of the Plan.
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Limited Brands, Inc. Savings and Retirement Plan
EIN #31-1048997 Plan #002
Schedule H, Line 4i
Schedule of Assets (Held at End of Year)
December 31, 2005
| (a) | (b) | (c) | (e) | ||||
| Identity of Issue, Borrower, |
Description of Investment Including |
Current Value | |||||
| * |
Limited Brands, Inc. | Common Stock - 3,942,910 shares | $ | 88,124,039 | |||
| Too, Inc. | Common Stock - 158,250 shares | 4,464,233 | |||||
| Abercrombie & Fitch Co. | Common Stock - 45,934 shares | 2,993,978 | |||||
| Pimco Total Return Fund | Mutual Fund - 880,044 shares | 9,240,470 | |||||
| American Balanced Fund | Mutual Fund - 1,398,854 shares | 24,899,596 | |||||
| Allianz CCM Capital Appreciation Fund | Mutual Fund - 2,885,282 shares | 55,859,070 | |||||
| Dodge & Cox Stock Fund | Mutual Fund - 244,285 shares | 33,520,807 | |||||
| Hartford Midcap Holdings Fund | Mutual Fund - 281,107 shares | 8,020,004 | |||||
| Vanguard Institutional Index Fund | Mutual Fund - 864,244 shares | 98,532,493 | |||||
| Artisan International Investor Shares | Mutual Fund - 909,943 shares | 23,030,669 | |||||
| * |
RiverSource Trust Short-Term Horizon (25:75) | Common Collective Trust - 175,887 shares | 3,727,743 | ||||
| * |
RiverSource Trust Medium-Term Horizon (50:50) | Common Collective Trust - 353,116 shares | 9,388,298 | ||||
| * |
RiverSource Trust Long-Term Horizon (80:20) | Common Collective Trust - 585,737 shares | 16,543,565 | ||||
| * |
RiverSource Trust Money Market Fund II | Common Collective Trust - 762,609 shares | 762,609 | ||||
| Self Directed Brokerage Accounts | 6,854,734 | ||||||
| Pooled Stable Value Fund | |||||||
| * |
RiverSource Trust Income Fund I | Common Collective Trust - 292,180 shares | 20,108,702 | ||||
| * |
RiverSource Trust Money Market Fund I | Common Collective Trust - 1,890,516 shares | 1,890,516 | ||||
| Insurance Contracts | |||||||
| GE Life | Investment Contract - 1,000,000 - 7.28% due 02/15/06 | 1,117,786 | |||||
| Protective | Investment Contract - 2,000,000 - 6.15% due 05/15/06 | 2,076,310 | |||||
| Synthetic and Regular Investment Contracts | |||||||
| Bank of America I Wrapper | Contract Wrapper - 4.84% due 12/31/50 | 50,107 | |||||
| Bank of America II Wrapper | Contract Wrapper - 4.81% due 12/31/50 | 92,265 | |||||
| IXIS I Wrapper | Contract Wrapper - 4.68% due 12/31/50 | 44,712 | |||||
| IXIS II Wrapper | Contract Wrapper - 4.50% due 12/31/50 | 62,017 | |||||
| JP Morgan Wrapper | Contract Wrapper - 4.86% due 12/31/50 | 123,541 | |||||
| Monumental Wrapper | Contract Wrapper - 4.16% due 12/31/50 | 280,669 | |||||
| Rabobank Wrapper | Contract Wrapper - 4.39% due 12/31/50 | 145,251 | |||||
| Royal Bank of Canada | Contract Wrapper - 4.61% due 12/31/50 | 115,619 | |||||
| State Street Wrapper | Contract Wrapper - 4.36% due 12/31/50 | 390,456 | |||||
| UBS Wrapper | Contract Wrapper - 4.72% due 12/31/50 | 168,437 | |||||
| * |
RiverSource Trust Money Market Fund I | Common Collective Trust - 13,181,665 shares | 13,216,573 | ||||
| * |
RiverSource Trust Bond Fund | Common Collective Trust - 1,540,689 shares | 25,674,046 | ||||
| FNMA TBA | Government Obligation - 200,000 - 5.00% due 01/01/18 | 197,812 | |||||
| FNMA 30 YR TBA | Government Obligation - 1,650,000 - 5.00% due 01/01/35 | 1,598,438 | |||||
| FNMA 15 YR TBA | Government Obligation - 1,300,000 - 5.50% due 01/01/15 | 1,307,719 | |||||
| FNMA TBA | Government Obligation - 2,500,000 - 5.50% due 01/01/31 | 2,475,000 | |||||
| FNMA 15 YR TBA | Government Obligation - 700,000 - 6.00% due 01/01/14 | 714,875 | |||||
| FNMA 30YR TBA | Government Obligation - 4,000,000 - 6.00% due 09/01/28 | 4,033,760 | |||||
| FNMA 30YR TBA | Government Obligation - 1,300,000 - 6.50% due 01/01/30 | 1,333,313 | |||||
| FHLMC TBA | Government Obligation - 1,000,000 - 6.00% due 01/01/36 | 1,009,609 | |||||
| ABSA 2005-CF A4 | Government Obligation - 890,000 - 4.63% due 06/06/12 | 885,573 | |||||
| CWALT INC CMO 2004-33 | Government Obligation - 96,426 - 4.97% due 12/25/34 | 97,755 | |||||
| CS FIRST BOSTON MTGE SECURITIES | Government Obligation - 775,000 - 5.10% due 08/15/38 | 779,231 | |||||
| FHLMC #D95319 | Government Obligation - 336,775 - 6.00% due 03/01/22 | 344,547 | |||||
| FHLMC GOLD #E96579 | Government Obligation - 259,385 - 4.50% due 06/01/13 | 254,094 | |||||
| FHLMC GOLD #E97247 | Government Obligation - 226,052 - 5.00% due 06/01/18 | 225,212 | |||||
| FHLMC GOLD #E99565 | Government Obligation - 215,829 - 5.50% due 09/01/18 | 218,185 | |||||
Note: Column (d) is not applicable for participant directed investments.
*Represents a party-in-interest
15
Table of Contents
Limited Brands, Inc. Savings and Retirement Plan
EIN #31-1048997 Plan #002
Schedule H, Line 4i
Schedule of Assets (Held at End of Year) - Continued
December 31, 2005
| (a) | (b) | (c) | (e) | |||
| Identity of Issue, Borrower, |
Description of Investment Including |
Current Value | ||||
| Synthetic and Regular Investment Contracts (continued) | ||||||
| FHLMC MTN | Government Obligation - 675,000 - 3.52% due 12/20/07 | 660,496 | ||||
| FHLMC GOLD #C66932 | Government Obligation - 141,566 - 6.00% due 05/01/32 | 143,933 | ||||
| FHLMC GOLD #B10776 | Government Obligation - 259,980 - 5.00% due 11/01/13 | 260,104 | ||||
| FHLMC GOLD #B10951 | Government Obligation - 389,468 - 5.00% due 11/01/18 | 387,887 | ||||
| FHLB FLT RT NT | Government Obligation - 1,030,000 - 4.61% due 09/06/07 | 1,033,090 | ||||
| FED HOME LN BANK | Government Obligation - 1,540,000 - 4.63% due 01/18/08 | 1,541,359 | ||||
| FHLB 3% | Government Obligation - 780,000 - 3.00% due 05/15/06 | 778,438 | ||||
| FED FARM CREDIT BANK | Government Obligation - 350,000 - 2.38% due 10/02/06 | 346,156 | ||||
| FEDERAL FARM CREDIT BANK | Government Obligation - 800,000 - 2.13% due 07/17/06 | 797,616 | ||||
| FHLMC REF NOTE | Government Obligation - 155,000 - 5.13% due 10/15/08 | 158,275 | ||||
| FHLMC 4% | Government Obligation - 1,255,000 - 4.00% due 08/17/07 | 1,259,008 | ||||
| FHLMC #780514 ARM | Government Obligation - 177,569 - 5.02% due 05/01/33 | 175,535 | ||||
| FHLMC (NON GOLD) ARM #782436 | Government Obligation - 211,701 - 4.99% due 10/01/34 | 210,279 | ||||
| FNMA 3.875% | Government Obligation - 1,880,000 - 3.88% due 05/15/07 | 1,868,930 | ||||
| FNMA | Government Obligation - 900,000 - 3.88% due 11/17/08 | 885,021 | ||||
| FNMA BENCHMARK | Government Obligation - 360,000 - 2.25% due 02/28/06 | 361,454 | ||||
| FNMA | Government Obligation - 750,000 - 2.15% due 04/13/06 | 748,409 | ||||
| FNMA | Government Obligation - 1,455,000 - 4.25% due 09/15/07 | 26,109 | ||||
| FNMA BENCHMARK 4.5% | Government Obligation - 220,000 - 4.50% due 10/15/08 | 220,898 | ||||
| FNMA | Government Obligation - 795,000 - 3.50% due 07/27/07 | 791,966 | ||||
| FNMA #254369 | Government Obligation - 230,315 - 6.00% due 06/01/12 | 236,785 | ||||
| FNMA #254536 | Government Obligation - 130,807 - 7.00% due 09/01/17 | 137,146 | ||||
| FNMA #254757 | Government Obligation - 203,516 - 5.00% due 03/31/13 | 202,270 | ||||
| FNMA #254774 | Government Obligation - 218,554 - 5.50% due 03/13/13 | 221,346 | ||||
| FNMA #254793 | Government Obligation - 437,919 - 5.00% due 07/01/33 | 427,667 | ||||
| FNMA #357324 | Government Obligation - 1,004,163 - 5.00% due 01/01/33 | 981,152 | ||||
| FNMA #535170 | Government Obligation - 274,803 - 5.50% due 09/01/14 | 278,304 | ||||
| FNMA #545701 | Government Obligation - 190,577 - 7.00% due 07/01/12 | 195,771 | ||||
| FNMA #545864 | Government Obligation - 428,333 - 5.50% due 08/01/17 | 433,826 | ||||
| FNMA #568049 | Government Obligation - 212,942 - 6.00% due 04/01/16 | 218,739 | ||||
| FNMA #636030 | Government Obligation - 132,333 - 6.50% due 04/01/32 | 137,102 | ||||
| FNMA #638591 | Government Obligation - 1,094,467 - 6.50% due 04/01/32 | 1,138,797 | ||||
| FNAM #646147 | Government Obligation - 509,524 - 7.00% due 06/01/32 | 538,194 | ||||
| FNMA #648349 | Government Obligation - 260,375 - 6.00% due 06/01/17 | 268,116 | ||||
| FNMA #662907 | Government Obligation - 428,513 - 6.50% due 10/01/17 | 442,589 | ||||
| FNMA #681400 | Government Obligation - 244,141 - 5.50% due 03/01/18 | 247,161 | ||||
| FNMA 2002-W4 A3 | Government Obligation - 9,890 - 5.30% due 05/25/42 | 9,906 | ||||
| FHLMC 2492-B | Government Obligation - 675,253 - 5.50% due 05/15/13 | 680,975 | ||||
| FNMA #200394 | Government Obligation - 440,735 - 5.50% due 07/25/23 | 444,289 | ||||
| FHLMC 2617 HD | Government Obligation - 221,706 - 7.00% due 06/15/16 | 231,182 | ||||
| FNMA 2003-133 GB | Government Obligation - 51,426 - 8.00% due 12/25/26 | 54,963 | ||||
| FHLMC 2641 | Government Obligation - 209,241 - 6.50% due 01/15/18 | 220,057 | ||||
| FNMA 2004-W3 A14 | Government Obligation - 64,624 - 3.50% due 05/25/34 | 64,559 | ||||
| FNMA 2004-W3 A15 | Government Obligation - 200,000 - 5.00% due 05/25/34 | 199,966 | ||||
| FNMA 2004-60 PA | Government Obligation - 360,501 - 5.50% due 04/25/34 | 363,503 | ||||
| FHLMC 2657 NT | Government Obligation - 272,859 - 5.00% due 01/15/16 | 274,234 | ||||
| FHLMC 2672 NT | Government Obligation - 370,089 - 5.00% due 02/15/16 | 371,646 | ||||
| FHLMC 2662 DB | Government Obligation - 279,178 - 5.00% due 02/15/16 | 280,263 | ||||
| FHLMC 2750 DB | Government Obligation - 275,000 - 4.50% due 05/15/15 | 273,875 | ||||
| FHLMC 2843-BA | Government Obligation - 236,851 - 5.00% due 01/15/18 | 237,055 | ||||
| FHLMC 2907-AG | Government Obligation - 316,003 - 4.50% due 03/15/19 | 311,319 |
Note: Column (d) is not applicable for participant directed investments.
*Represents a party-in-interest
16
Table of Contents
Limited Brands, Inc. Savings and Retirement Plan
EIN #31-1048997 Plan #002
Schedule H, Line 4i
Schedule of Assets (Held at End of Year) - Continued
December 31, 2005
| (a) | (b) | (c) | (e) | |||
| Identity of Issue, Borrower, |
Description of Investment Including |
Current Value | ||||
| Synthetic and Regular Investment Contracts (continued) | ||||||
| FNMA #703937 | Government Obligation - 184,398 - 5.50% due 05/01/18 | 186,467 | ||||
| FNMA #705304 | Government Obligation - 227,391 - 4.91% due 06/01/33 | 224,906 | ||||
| FNMA #720378 | Government Obligation - 494,668 - 4.50% due 06/01/18 | 484,313 | ||||
| FNMA #725090 | Government Obligation - 212,862 - 4.81% due 11/01/33 | 206,530 | ||||
| FNMA #725425 | Government Obligation - 934,684 - 5.50% due 04/01/34 | 932,113 | ||||
| FNMA ARM #725737 | Government Obligation - 162,655 - 4.53% due 08/01/34 | 162,265 | ||||
| FNMA #725815 | Government Obligation - 806,070 - 6.00% due 12/01/33 | 818,516 | ||||
| FNMA #735057 | Government Obligation - 520,594 - 4.50% due 01/01/19 | 509,697 | ||||
| FNMA #735935 | Government Obligation - 993,806 - 5.00% due 12/01/18 | 988,900 | ||||
| FNMA #741897 | Government Obligation - 363,572 - 5.00% due 10/01/33 | 355,060 | ||||
| FNMA #762232 | Government Obligation - 183,462 - 4.71% due 01/01/34 | 183,022 | ||||
| FNMA #763798 | Government Obligation - 937,797 - 5.50% due 03/01/34 | 934,750 | ||||
| FNMA #764082 | Government Obligation - 224,586 - 4.76% due 01/01/34 | 225,070 | ||||
| FNMA ARM #768117 | Government Obligation - 231,933 - 5.42% due 08/01/34 | 234,048 | ||||
| FNMA #781776 | Government Obligation - 537,854 - 6.00% due 10/01/34 | 539,779 | ||||
| FNMA ARM #786628 | Government Obligation - 161,651 - 5.68% due 07/01/34 | 163,048 | ||||
| FNMA ARM #799769 | Government Obligation - 214,892 - 5.06% due 11/01/34 | 214,446 | ||||
| FNMA ARM #801344 | Government Obligation - 235,708 - 5.07% due 10/01/34 | 234,208 | ||||
| FNMA #220925 5.5% | Government Obligation - 709,700 - 5.50% due 09/01/34 | 707,748 | ||||
| FNMA #809216 | Government Obligation - 519,319 - 4.88% due 02/01/35 | 519,427 | ||||
| FNMA #809534 | Government Obligation - 328,825 - 5.08% due 02/01/35 | 329,167 | ||||
| FNMA ARM #813570 | Government Obligation - 247,368 - 4.40% due 10/01/34 | 245,247 | ||||
| FNMA ARM #826908 | Government Obligation - 604,900 - 5.15% due 08/01/35 | 600,374 | ||||
| FNMA #863122 | Government Obligation - 412,146 - 6.00% due 01/01/36 | 415,752 | ||||
| GMACC 1999-C1 B | Government Obligation - 350,000 - 6.29% due 05/15/33 | 364,303 | ||||
| VENDEE 2003-2 C | Government Obligation - 230,977 - 5.00% due 07/15/20 | 231,605 | ||||
| U.S. TREASURY BOND | Government Obligation - 465,000 - 6.25% due 08/15/23 | 566,174 | ||||
| U.S. TREASURY BOND | Government Obligation - 2,245,000 - 6.00% due 02/15/26 | 2,697,860 | ||||
| U.S. T-NOTE 3.625% | Government Obligation - 3,265,000 - 3.63% due 06/30/07 | 3,286,937 | ||||
| U.S. T-NOTE 4.5% | Government Obligation - 775,000 - 4.50% due 11/15/10 | 785,789 | ||||
| U.S. TREASURY NOTE | Government Obligation - 1,100,000 - 4.25% due 11/30/07 | 1,100,758 | ||||
| WFMBS 5% | Government Obligation - 1,032,514 - 5.00% due 10/25/35 | 1,001,647 | ||||
| ARMT 2004-2 6A | Corporate Bonds - 143,104 - 5.27% due 02/25/35 | 143,615 | ||||
| ARMT 2005-3-7A1 | Corporate Bonds - 360,946 - 5.09% due 04/25/35 | 359,645 | ||||
| AMCAR 2003-CF A3 | Corporate Bonds - 121,299 - 2.75% due 10/09/07 | 121,303 | ||||
| AMCAR 2004-AF A3 | Corporate Bonds - 159,087 - 2.18% due 07/07/08 | 158,185 | ||||
| AMCAR 2004-BM A3 | Corporate Bonds - 334,420 - 2.07% due 08/06/08 | 332,093 | ||||
| AMCAR 2005-BM-A3 | Corporate Bonds - 650,000 - 4.05% due 01/06/10 | 644,617 | ||||
| AMERICREDIT AUTOMOBILE REC. | Corporate Bonds - 575,000 - 4.87% due 12/06/10 | 577,035 | ||||
| AMS I 2005-R9-AF3 | Corporate Bonds - 965,000 - 5.10% due 11/25/35 | 964,878 | ||||
| BACM 2005-4-A1 | Corporate Bonds - 428,208 - 4.43% due 07/10/45 | 424,772 | ||||
| BACM 2005-6-A2 | Corporate Bonds - 475,000 - 5.19% due 09/10/47 | 479,345 | ||||
| BOAA 2003-1-A1 | Corporate Bonds - 189,677 - 5.00% due 02/25/33 | 188,957 | ||||
| BOAMS 2004-D B1 | Corporate Bonds - 127,917 - 3.97% due 05/25/34 | 127,533 | ||||
| BOAMS 2004-E 2A6 | Corporate Bonds - 275,000 - 4.13% due 06/25/34 | 266,484 | ||||
| BOAMS 2004-E B1 | Corporate Bonds - 147,911 - 4.06% due 06/25/34 | 144,122 | ||||
| BOAMS 2004-F B1 | Corporate Bonds - 197,329 - 4.13% due 06/25/34 | 191,437 | ||||
| BSARM 2004-12-3A1 | Corporate Bonds - 155,962 - 5.19% due 02/25/35 | 155,599 | ||||
| BALTA 2005-5-1 A1 | Corporate Bonds - 319,690 - 4.80% due 06/25/35 | 320,292 | ||||
| BSCMS 2005-PWR9-A1 | Corporate Bonds - 670,075 - 4.50% due 09/15/42 | 664,465 | ||||
| BSCMS 2005-T20-A2 | Corporate Bonds - 775,000 - 5.13% due 10/12/42 | 782,240 |
Note: Column (d) is not applicable for participant directed investments.
*Represents a party-in-interest
17
Table of Contents
Limited Brands, Inc. Savings and Retirement Plan
EIN #31-1048997 Plan #002
Schedule H, Line 4i
Schedule of Assets (Held at End of Year) - Continued
December 31, 2005
| (a) | (b) | (c) | (e) | |||
| Identity of Issue, Borrower, |
Description of Investment Including |
Current Value | ||||
| Synthetic and Regular Investment Contracts (continued) | ||||||
| CDC COMMERCIAL MTGE | Corporate Bonds - 500,000 - 5.68% due 11/15/30 | 514,698 | ||||
| CDBCM 2005-CD1 A1 | Corporate Bonds - 768,645 - 5.47% due 09/15/20 | 773,037 | ||||
| CWALT 2005-6CB-1A1 | Corporate Bonds - 182,431 - 7.50% due 04/25/35 | 190,558 | ||||
| CWL 2005-10-AF6 | Corporate Bonds - 55,000 - 4.91% due 12/25/35 | 53,541 | ||||
| CWL 2005-17-1AF2 | Corporate Bonds - 360,000 - 5.36% due 12/25/35 | 361,817 | ||||
| CWALT INC 2005-54CB | Corporate Bonds - 218,483 - 5.50% due 11/25/35 | 221,539 | ||||
| CWALT INC 2005-43 | Corporate Bonds - 222,890 - 5.50% due 11/25/34 | 225,586 | ||||
| CWHL 2004-12 1M | Corporate Bonds - 99,770 - 4.61% due 08/25/34 | 97,459 | ||||
| CARAT 2005-1-A4 | Corporate Bonds - 550,000 - 4.05% due 07/15/09 | 541,195 | ||||
| COAFT 2002-B A4A | Corporate Bonds - 146,527 - 3.32% due 04/15/09 | 145,746 | ||||
| COAFT 2003-A A3A | Corporate Bonds - 30,889 - 1.83% due 10/15/07 | 30,855 | ||||
| COAFT 2004-A A3 | Corporate Bonds - 250,000 - 3.07% due 07/15/08 | 248,051 | ||||
| COPAR 2004-2 A3 | Corporate Bonds - 243,991 - 3.06% due 03/17/08 | 242,836 | ||||
| CITIGROUP INC | Corporate Bonds - 345,000 - 6.50% due 01/18/11 | 377,752 | ||||
| CGCMT 2005-C3-A1 | Corporate Bonds - 847,181 - 4.39% due 05/15/43 | 837,924 | ||||
| CMLT1 2005-5-1A2 | Corporate Bonds - 902,189 - 5.41% due 08/25/35 | 905,700 | ||||
| CSFB 2004-C1 A2 | Corporate Bonds - 280,000 - 3.52% due 01/15/37 | 270,746 | ||||
| CSFB 2004-AR5 CB1 | Corporate Bonds - 98,882 - 4.42% due 06/25/34 | 96,604 | ||||
| CSFB 2005 C4-A1 | Corporate Bonds - 619,723 - 4.77% due 08/15/38 | 618,951 | ||||
| CSFB 2005-8-7A1 | Corporate Bonds - 454,518 - 7.00% due 09/25/35 | 469,845 | ||||
| CSFB 2005-10-4A1 | Corporate Bonds - 343,844 - 6.50% due 11/25/35 | 351,508 | ||||
| CSFB-05-12-SA1 | Corporate Bonds - 425,000 - 7.00% due 12/25/35 | 442,221 | ||||
| FHLMC | Corporate Bonds - 135,000 - 3.63% due 09/15/06 | 135,469 | ||||
| FEDERAL HOME LOAN BANK | Corporate Bonds - 2,315,000 - 4.58% due 11/21/08 | 2,321,276 | ||||
| FNMA 2003-W18 1A5 | Corporate Bonds - 275,000 - 4.61% due 08/25/43 | 274,618 | ||||
| FNMA 2004-W10 A23 | Corporate Bonds - 350,000 - 5.00% due 08/25/34 | 351,972 | ||||
| FHAMS 2004-AA4-A1 | Corporate Bonds - 118,329 - 5.41% due 10/25/34 | 120,092 | ||||
| FHAT 2005-A4-B1 | Corporate Bonds - 219,773 - 5.39% due 06/25/35 | 220,909 | ||||
| GMACC 2005-C1-A1 | Corporate Bonds - 283,247 - 4.21% due 05/10/43 | 279,678 | ||||
| GMACC 2002-C2 A1 | Corporate Bonds - 302,367 - 4.32% due 10/15/38 | 302,020 | ||||
| GMACM 2004-HE2-A4 | Corporate Bonds - 285,000 - 3.65% due 10/25/33 | 275,572 | ||||
| GSR 2005-AR2-2A1 | Corporate Bonds - 431,097 - 4.88% due 04/25/35 | 427,985 | ||||
| GECMC 2004-C2 A1 | Corporate Bonds - 228,447 - 3.11% due 03/10/40 | 221,881 | ||||
| GECMC 2005-C3-A2 | Corporate Bonds - 1,016,000 - 4.85% due 07/10/45 | 1,012,738 | ||||
| GCCFC 2005-GG5-A1 | Corporate Bonds - 766,733 - 4.79% due 04/10/37 | 768,326 | ||||
| HVMLT 2004-3 B1 | Corporate Bonds - 124,404 - 4.39% due 05/19/34 | 121,020 | ||||
| HVMLT 05-4 3A | Corporate Bonds - 607,528 - 5.17% due 01/19/35 | 609,061 | ||||
| HVMLT 2005-12-2A1A | Corporate Bonds - 440,183 - 5.62% due 10/19/35 | 451,734 | ||||
| HERTZ VECHICLE FINANCING | Corporate Bonds - 450,000 - 4.93% due 02/15/10 | 450,054 | ||||
| HART 2003-A A3 | Corporate Bonds - 183,017 - 2.33% due 11/15/07 | 181,948 | ||||
| INDX 2005-AR25-A1 | Corporate Bonds - 297,612 - 5.91% due 12/25/35 | 301,325 | ||||
| JPMCC 2003-C1-A1 | Corporate Bonds - 972,718 - 4.27% due 01/12/37 | 951,476 | ||||
| JP MORGAN CHASE COMM MTGE | Corporate Bonds - 739,152 - 4.65% due 08/15/42 | 736,750 | ||||
| JPMCC 2005-LDP4-A1 | Corporate Bonds - 848,439 - 4.61% due 10/15/42 | 844,339 | ||||
| LBUBS 2004-C4 A2 | Corporate Bonds - 400,000 - 4.57% due 05/15/34 | 396,510 | ||||
| LBUBS 2004-C6-A2 | Corporate Bonds - 475,000 - 4.19% due 08/15/29 | 465,194 | ||||
| LBUBS 2003-C7 A2 | Corporate Bonds - 422,000 - 4.06% due 09/15/27 | 410,884 | ||||
| LBUBS 2003-C8 A2 | Corporate Bonds - 350,000 - 4.21% due 11/15/27 | 343,804 | ||||
| LBUBS 2005-C1-A1 | Corporate Bonds - 353,974 - 4.06% due 02/15/30 | 348,897 | ||||
| LBUBS 2005-C3-A1 | Corporate Bonds - 607,827 - 4.39% due 07/15/30 | 603,020 | ||||
| LBUBS 2005-C5-A2 | Corporate Bonds - 745,000 - 4.88% due 09/15/30 | 743,617 |
Note: Column (d) is not applicable for participant directed investments.
*Represents a party-in-interest
18
Table of Contents
Limited Brands, Inc. Savings and Retirement Plan
EIN #31-1048997 Plan #002
Schedule H, Line 4i
Schedule of Assets (Held at End of Year) - Continued
December 31, 2005
| (a) | (b) | (c) | (e) | |||||
| Identity of Issue, Borrower, |
Description of Investment Including |
Current Value |
||||||
| Synthetic and Regular Investment Contracts (continued) | ||||||||
| LBART 2005-B-A3 | Corporate Bonds - 625,000 - 4.41% due 05/15/10 | 620,557 | ||||||
| MARM 2004-3 3A2 | Corporate Bonds - 133,525 - 4.42% due 04/25/34 | 132,303 | ||||||
| MARM 2004-5 B1 | Corporate Bonds - 172,391 - 4.40% due 07/25/34 | 170,078 | ||||||
| MLM1 2005-A1-2A1 | Corporate Bonds - 246,924 - 4.63% due 01/25/35 | 244,016 | ||||||
| MLMT 2005-CIP1-A1 | Corporate Bonds - 631,341 - 4.63% due 05/12/10 | 628,433 | ||||||
| MLMT 2005-CK1-A1 | Corporate Bonds - 500,000 - 5.03% due 11/12/37 | 504,690 | ||||||
| MSC 2003-T11 A2 | Corporate Bonds - 725,000 - 4.34% due 06/13/41 | 710,895 | ||||||
| MSALT 2004-HB2 A3 | Corporate Bonds - 400,000 - 2.94% due 03/16/09 | 391,792 | ||||||
| MSM 2004-2AR 3A | Corporate Bonds - 213,646 - 5.03% due 02/25/34 | 212,184 | ||||||
| MSM 2004-10AR 2A1 | Corporate Bonds - 112,460 - 5.14% due 11/25/34 | 113,523 | ||||||
| POPLR 2005-5-AR3 | Corporate Bonds - 525,000 - 5.09% due 11/25/35 | 524,764 | ||||||
| RAMC 2005-3-AF3 | Corporate Bonds - 300,000 - 4.77% due 10/25/35 | 298,017 | ||||||
| RAMC 2005-4-A3 | Corporate Bonds - 195,000 - 5.56% due 02/25/36 | 195,904 | ||||||
| RAL I SER 2003-QS4 ABS | Corporate Bonds - 160,419 - 5.50% due 09/25/33 | 161,234 | ||||||
| RASC 2004-KS8 A I3 | Corporate Bonds - 350,000 - 3.84% due 09/25/34 | 345,815 | ||||||
| RASC SER 2002-KS1 | Corporate Bonds - 821 - 5.86% due 11/25/29 | 822 | ||||||
| SARM 2005-15-4A1 | Corporate Bonds - 624,483 - 5.53% due 07/25/35 | 626,193 | ||||||
| SARM 2004-3AC B1 | Corporate Bonds - 128,919 - 4.93% due 03/25/34 | 128,135 | ||||||
| SARM 2004-5 B1 | Corporate Bonds - 99,582 - 4.61% due 05/25/34 | 97,600 | ||||||
| SASCO CMO 2004-12H | Corporate Bonds - 177,527 - 5.56% due 04/25/34 | 179,272 | ||||||
| TRIAD AUTO RECEIVABLES 2005-A | Corporate Bonds - 450,000 - 4.05% due 03/12/10 | 445,765 | ||||||
| WAMU 2004-CB3 4A | Corporate Bonds - 317,037 - 6.00% due 10/25/19 | 324,368 | ||||||
| WESTO 2003-4 A3 | Corporate Bonds - 85,993 - 2.39% due 01/22/08 | 85,882 | ||||||
| WBCMT 2003-C8 A2 | Corporate Bonds - 300,000 - 3.89% due 11/15/35 | 291,785 | ||||||
| WBCMT 2005-C19-A1 | Corporate Bonds - 508,639 - 4.17% due 06/15/42 | 501,045 | ||||||
| WBCMT 2005-C16-A2 | Corporate Bonds - 450,000 - 4.38% due 10/15/41 | 440,847 | ||||||
| WBCMT 2005-C21-A1 | Corporate Bonds - 685,961 - 4.87% due 10/17/44 | 689,669 | ||||||
| WAMU 2005-AR3-A2 | Corporate Bonds - 369,661 - 4.65% due 03/25/35 | 364,710 | ||||||
| WFMBS 2005-AR2-2A2 | Corporate Bonds - 260,882 - 4.56% due 03/25/35 | 257,036 | ||||||
| WFMBS 2005-5-3PT3 | Corporate Bonds - 842,709 - 5.50% due 05/25/35 | 833,403 | ||||||
| Other - (pending purchases/sales & cash) | (12,157,250 | ) | ||||||
| $ | 538,322,526 | |||||||
Note: Column (d) is not applicable for participant directed investments.
*Represents a party-in-interest
19
Table of Contents
Schedule G, Part III
Financial Transaction Schedule—Nonexempt Transactions
December 31, 2005
| (a) Identity of party involved |
(b) Relationship to plan, employer, or other party-in interest | |
| Limited Brands, Inc. |
Plan sponsor |
| (c) Description of transactions including maturity date, rate of interest, collateral, par or maturity value |
| Plan sponsor used earnings within the plan to reduce the amount of one of the plan sponsor’s match contributions |
| Total receivable for contributions |
(e) Selling price | (f) Lease rental | (g) Expenses incurred in connection with transaction | |||||
| — | — | — | — | |||||
| (h) Cost of asset | (i) Current value of asset | (j) Net gain or (loss) on each transaction |
||||||
| $ | 17,989 | $ | 18,825 | — | ||||
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| Limited Brands, Inc. Savings and Retirement Plan | ||||
| Date: June 29, 2006 |
By: | /s/ Wendy C. Arlin | ||
| Wendy C. Arlin | ||||
| Senior Vice-President, Corporate Controller | ||||
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INDEX TO EXHIBITS
| Exhibit No. | Description | |
| 23.1 | Consent of Ernst & Young LLP | |
22
Exhibit 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 1-8344) pertaining to the Savings and Retirement Plan of Limited Brands, Inc. of our report dated June 26, 2006, with respect to the financial statements and schedules of the Limited Brands, Inc. Savings and Retirement Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2005.
/s/ Ernst & Young LLP
Columbus, Ohio
June 28, 2006