UNITED STATES
|
| [ X ] | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. |
For the Fiscal year ended December 31, 2001 |
| [ ] | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. |
For the transition period from __________________________ to _________________________________.Commission file number 1-12381A. Full title of the plan and the address of the plan, if different from that of the issuer named below:Linens ’n Things, Inc. Deferred Compensation PlanB. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:Linens ’n Things,
Inc.
|
LINENS ’N THINGS, INC.
|
| Page No. | |||
|---|---|---|---|
| A. Financial Statements | |||
| Independent Auditors’ Report | 3 | ||
| Statements of Financial Condition as of | |||
| December 31, 2001 and 2000 | 4-5 | ||
| Statements of Income and Changes in Plan Equity, | |||
| with Fund Information, for the Years Ended | |||
| December 31, 2001, 2000 and 1999 | 6-21 | ||
| Notes to Financial Statements | 22-35 | ||
| B. Exhibits | |||
| 23. Independent Accountants’ Consent | 37 | ||
Independent Auditors’ ReportThe Compensation
Committee of the
|
Linens ’n Things,
Inc.
|
Assets: |
December 31, 2001 | December 31, 2000 | |||
|---|---|---|---|---|---|
| Mutual Funds: | |||||
| Davis New York Venture Fund (cost $438,688 in 2001 and $1,293,315 in 2000) | $ 439,824 | $ 1,432,711 | |||
| Dreyfus Appreciation Fund (cost $363,857 in 2001 and $913,416 in 2000) | 355,684 | 951,034 | |||
| Mutual Beacon Fund (cost $227,918 in 2001 and $0 in 2000) | 223,782 | 0 | |||
| Alliance Premier Growth A Fund (cost $277,955 in 2001 and $991,422 in 2000) | 211,554 | 882,278 | |||
| American Century Income & Growth Fund (cost $229,758 in 2001 and $763,636 in 2000) | 198,449 | 767,009 | |||
| Prudential Short-Term Corporate Bond Fund (cost $196,073 in 2001 and $0 in 2000) | 194,209 | 0 | |||
| Franklin Small Cap Growth Fund (cost $198,462 in 2001 and $188,178 in 2000) | 172,382 | 210,639 | |||
| Oakmark Fund (cost $107,652 in 2001 and $0 in 2000) | 121,161 | 0 | |||
| Prudential Emerging Growth Fund (cost $117,884 in 2001 and $103,505 in 2000) | 78,683 | 81,049 | |||
| American Century Value Fund (cost $48,291 in 2001 and $37,394 in 2000) | 64,830 | 48,028 | |||
| Strong Government Securities Fund (cost $59,494 in 2001 and $54,651 in 2000) | 62,676 | 55,896 | |||
| Deutsche and Investment International Fund (cost $66,780 in 2001 and $47,315 in 2000) | 50,300 | 44,808 | |||
| Baron Asset Fund (cost $19,097 in 2001 and $398,496 in 2000) | 48,815 | 463,476 | |||
| Liberty Stein Roe Capital Opportunities Fund (cost $40,804 in 2001 and $28,573 in 2000) | 43,264 | 26,402 | |||
| Montgomery Short Duration Government Bond Fund (cost $29,207 in 2001 and $29,506 in 2000) | 30,187 | 30,164 | |||
| Franklin International Fund (cost $32,112 in 2001 and $21,906 in 2000) | 29,776 | 23,151 | |||
| Gabelli Growth Fund (cost $34,635 in 2001 and $28,334 in 2000) | 26,653 | 28,201 | |||
| Target US Government Money Market Fund (cost $26,306 in 2001 and $0 in 2000) | 26,306 | 0 | |||
| Prudential Equity Fund (cost $30,821 in 2001 and $30,893 in 2000) | 24,340 | 27,866 | |||
| Dreyfus Founders Passport Fund (cost $41,506 in 2001 and $26,830 in 2000) | 23,624 | 18,829 | |||
| Strong Schafer Value Fund (cost $20,710 in 2001 and $20,974 in 2000) | 20,552 | 20,852 | |||
| Rainier Small/Mid Cap Equity Fund (cost $19,320 in 2001 and $14,330 in 2000) | 19,281 | 14,858 | |||
| Gabelli Value Fund (cost $18,840 in 2001 and $0 in 2000) | 19,099 | 0 | |||
| Putnam International Growth Fund (cost $18,536 in 2001 and $36,006 in 2000) | 17,243 | 39,696 | |||
| Neuberger Berman Genesis Fund (cost $11,768 in 2001 and $8,310 in 2000) | 14,771 | 10,011 | |||
Linens ’n Things,
Inc.
|
| Assets (continued): | December 31, 2001 |
December 31, 2000 | |||
|---|---|---|---|---|---|
| Stein Roe Growth and Income Fund (cost $20,640 in 2001 and $15,174 in 2000) | 13,539 | 17,925 | |||
| PBHG Emerging Growth Fund (cost $21,983 in 2001 and $13,235 in 2000) | 13,227 | 8,983 | |||
| Third Avenue Value Fund (cost $12,356 in 2001 and $0 in 2000) | 12,207 | 0 | |||
| Lazard Equity Portfolio Fund (cost $10,748 in 2001 and $7,612 in 2000) | 9,550 | 7,106 | |||
| Strong International Bond Fund (cost $8,810 in 2001 and $2,320 in 2000) | 8,810 | 2,321 | |||
| Prudential Jennison Growth Fund (cost $10,782 in 2001 and $9,821 in 2000) | 8,779 | 8,440 | |||
| Gabelli Asset Fund (cost $5,331 in 2001 and $0 in 2000) | 5,397 | 0 | |||
| Invesco Select Income Fund (cost $5,054 in 2001 and $0 in 2000) | 4,946 | 0 | |||
| BlackRock International Bond Portfolio Fund (cost $3,034 in 2001 and $0 in 2000) | 3,006 | 0 | |||
| Janus Flexible Income Fund (cost $3,227 in 2001 and $881 in 2000) | 2,965 | 625 | |||
| Van Kampen Comstock Fund (cost $2,962 in 2001 and $1,250 in 2000) | 2,869 | 1,556 | |||
| Janus Growth and Income Fund (cost $2,970 in 2001 and $0 in 2000) | 2,810 | 0 | |||
| Strong Multi-Cap Value Fund (cost $1,322 in 2001 and $0 in 2000) | 2,123 | 0 | |||
| Putnam US Government Income Fund (cost $1,974 in 2001 and $0 in 2000) | 1,984 | 0 | |||
| Van Kampen Aggressive Growth Fund (cost $1,999 in 2001 and $0 in 2000) | 1,768 | 0 | |||
| Royce Pennsylvania Mutual Investors Fund (cost $1,328 in 2001 and $2,073 in 2000) | 1,542 | 2,115 | |||
| Lazard International Fixed Income Portfolio Fund (cost $543 in 2001 and $0 in 2000) | 1,021 | 0 | |||
| Prudential Money Market Assets Fund (cost $851 in 2001 and $851 in 2000) | 851 | 851 | |||
| Target Portfolio Trust (cost $322 in 2001 and $322 in 2000) | 323 | 321 | |||
| Janus Invest 20 Fund (cost $0 in 2001 and $792,208 in 2000) | 0 | 624,894 | |||
| Robertson Stephens Growth & Income Fund (cost $0 in 2001 and $1,229 in 2000) | 0 | 827 | |||
| Total mutual funds (cost $2,792,676 in 2001 and $5,883,966 in 2000) | 2,615,161 | 5,852,922 | |||
| Command Money Market Fund (cost $2,860,158 in 2001 and $18,732 in 2000) | 2,859,952 | 18,526 | |||
| Linens ’n Things, Inc. Common Stock Fund (cost $586,151 in 2001 and $481,771 in 2000) | 470,850 | 368,131 | |||
| Common Stock Fund (cost $322,808 in 2001 and $359,604 in 2000) | 195,515 | 126,363 | |||
| Total Investments (cost $6,561,793 in 2001 and $6,744,073 in 2000) | 6,141,478 | 6,365,942 | |||
| Contributions receivable - participants | 4,345 | 16,165 | |||
| Total assets | $ 6,145,823 | $ 6,382,107 | |||
| Total plan equity | $ 6,145,823 | $ 6,382,107 | |||
|
The accompanying notes are an integral part of these financial statements. |
Linens ’n Things,
Inc.
|
| Command Money Market Fund | Linens ’n Things, Inc. Common Stock Fund | Davis New York Venture Fund | Dreyfus Appreciation Fund | Mutual Beacon Fund | Alliance Premier Growth A Fund | American Century Income & Growth Fund | Common Stock Fund |
Prudential Short-term Corporate Bond Fund | Franklin Small Cap Growth Fund | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||
| Dividend income | $ 2,240 | $ -- | $ 1,014 | $ 6,255 | $ 3,831 | $ 72 | $ 4,786 | $ -- | $ 27,177 | $ 462 | |||||||||||
| Net realized gain (loss) | -- | -- | 22,055 | (55,098 | ) | (26,147 | ) | (273,232 | ) | (25,022 | ) | 24,265 | (8,160 | ) | 9,043 | ||||||
| Net unrealized appreciation | |||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||
| of investments | -- | (1,661 | ) | (138,259 | ) | (45,791 | ) | (4,136 | ) | 42,743 | (34,682 | ) | 105,948 | (1,864 | ) | (48,541 | ) | ||||
| Contributions | 2,001 | 104,380 | 44,827 | 30,702 | -- | 47,206 | 34,218 | -- | -- | 20,479 | |||||||||||
| Transfers among funds | 3,047,950 | -- | 636 | 616 | 456,306 | 62,878 | 3,224 | -- | 1,038,760 | 16,900 | |||||||||||
| Total additions | 3,052,191 | 102,719 | (69,726 | ) | (63,326 | ) | 429,854 | (120,333 | ) | (17,476 | ) | 130,213 | 1,055,913 | (1,657 | ) | ||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||
| Distributions | (205,904 | ) | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||
| Transfers among funds | (4,861 | ) | -- | (923,161 | ) | (532,024 | ) | (206,072 | ) | (550,391 | ) | (551,084 | ) | (61,061 | ) | (861,704 | ) | (36,600 | ) | ||
| Total deductions | (210,765 | ) | -- | (923,161 | ) | (532,024 | ) | (206,072 | ) | (550,391 | ) | (551,084 | ) | (61,061 | ) | (861,704 | ) | (36,600 | ) | ||
| Net increase (decrease) in plan | 2,841,426 | 102,719 | (992,887 | ) | (595,350 | ) | 223,782 | (670,724 | ) | (568,560 | ) | 69,152 | 194,209 | (38,257 | ) | ||||||
| equity | |||||||||||||||||||||
| Plan equity at beginning of year | 18,526 | 368,131 | 1,432,711 | 951,034 | -- | 882,278 | 767,009 | 126,363 | -- | 210,639 | |||||||||||
| Plan equity at end of year | $ 2,859,952 | $ 470,850 | $ 439,824 | $ 355,684 | $ 223,782 | $ 211,554 | $ 198,449 | $ 195,515 | $ 194,209 | $ 172,382 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -2- |
Linens ’n Things,
Inc.
|
| Oakmark Fund | Prudential Emerging Growth Fund | American Century Value Fund | Strong Government Securities Fund | Deutsche and Investment International Fund | Baron Asset Fund | Liberty Stein Roe Capital Opportunities Fund | Montgomery Short Duration Government Bond Fund | Franklin International Fund | Gabelli Growth Fund | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||||||||
| Dividend income | $ | 3,667 | $ | -- | $ | 1,878 | $ | 3,573 | $ | 38 | $ | -- | $ | 326 | $ | 1,881 | $ | 651 | $ | -- | ||||||||||||
| Net realized gain (loss) | 48,564 | -- | 625 | 10 | (196 | ) | (12,012 | ) | -- | (2 | ) | (135 | ) | -- | ||||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||||||||
| (depreciation) in fair value | ||||||||||||||||||||||||||||||||
| of investments | 13,509 | (16,745 | ) | 5,905 | 1,937 | (13,973 | ) | (35,262 | ) | 4,630 | 323 | (3,581 | ) | (7,849 | ) | |||||||||||||||||
| Contributions | -- | 6,466 | 17,072 | 5,612 | 17,309 | 12,576 | 8,339 | 200 | 11,847 | 4,526 | ||||||||||||||||||||||
| Transfers among funds | 583,165 | 7,913 | 100 | -- | 3,852 | 396 | 3,770 | -- | 326 | 1,775 | ||||||||||||||||||||||
| Total additions | 648,905 | (2,366 | ) | 25,580 | 11,132 | 7,030 | (34,302 | ) | 17,065 | 2,402 | 9,108 | (1,548 | ) | |||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||||
| Transfers among funds | (527,744 | ) | -- | (8,778 | ) | (4,352 | ) | (1,538 | ) | (380,359 | ) | (203 | ) | (2,379 | ) | (2,483 | ) | -- | ||||||||||||||
| Total deductions | (527,744 | ) | -- | (8,778 | ) | (4,352 | ) | (1,538 | ) | (380,359 | ) | (203 | ) | (2,379 | ) | (2,483 | ) | -- | ||||||||||||||
| Net increase (decrease) in plan | 121,161 | (2,366 | ) | 16,802 | 6,780 | 5,492 | (414,661 | ) | 16,862 | 23 | 6,625 | (1,548 | ) | |||||||||||||||||||
| equity | ||||||||||||||||||||||||||||||||
| Plan equity at beginning of year | -- | 81,049 | 48,028 | 55,896 | 44,808 | 463,476 | 26,402 | 30,164 | 23,151 | 28,201 | ||||||||||||||||||||||
| Plan equity at end of year | $ | 121,161 | $ | 78,683 | $ | 64,830 | $ | 62,676 | $ | 50,300 | $ | 48,815 | $ | 43,264 | $ | 30,187 | $ | 29,776 | $ | 26,653 | ||||||||||||
|
The accompanying notes are an integral part of these financial statements. -3- |
Linens ’n Things,
Inc.
|
| Target US Government Money Market Fund | Prudential Equity Fund | Dreyfus Founders Passport Fund | Strong Schafer Value Fund | Rainier Small/Mid Cap Equity Fund | Gabelli Value Fund | Putnam International Growth Fund | Neuberger Berman Genesis Fund | Stein Roe Growth and Income Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 592 | $ | 104 | $ | 10 | $ | -- | $ | -- | $ | 39 | $ | 1,356 | $ | 113 | $ | 1,318 | |||||||||||
| Net realized gain (loss) | -- | (466 | ) | -- | -- | 50 | -- | 884 | 41 | (286 | ) | ||||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||||||||||
| of investments | -- | (3,454 | ) | (9,882 | ) | (36 | ) | (566 | ) | 259 | (4,985 | ) | 1,342 | (9,851 | ) | ||||||||||||||
| Contributions | 25,714 | 3,339 | 7,672 | 1,042 | 6,209 | 18,829 | 10,711 | 3,014 | 6,181 | ||||||||||||||||||||
| Transfers among funds | -- | -- | 7,031 | -- | -- | -- | 1,799 | 387 | -- | ||||||||||||||||||||
| Total additions | 26,306 | (477 | ) | 4,831 | 1,006 | 5,693 | 19,127 | 9,765 | 4,897 | (2,638 | ) | ||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | -- | (3,049 | ) | (36 | ) | (1,306 | ) | (1,270 | ) | (28 | ) | (32,218 | ) | (137 | ) | (1,748 | ) | ||||||||||||
| Total deductions | -- | (3,049 | ) | (36 | ) | (1,306 | ) | (1,270 | ) | (28 | ) | (32,218 | ) | (137 | ) | (1,748 | ) | ||||||||||||
| Net increase (decrease) in plan equity | 26,306 | (3,526 | ) | 4,795 | (300 | ) | 4,423 | 19,099 | (22,453 | ) | 4,760 | (4,386 | ) | ||||||||||||||||
| Plan equity at beginning of year | -- | 27,866 | 18,829 | 20,852 | 14,858 | -- | 39,696 | 10,011 | 17,925 | ||||||||||||||||||||
| Plan equity at end of year | $ | 26,306 | $ | 24,340 | $ | 23,624 | $ | 20,552 | $ | 19,281 | $ | 19,099 | $ | 17,243 | $ | 14,771 | $ | 13,539 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -4- |
Linens ’n Things,
Inc.
|
| PBHG Emerging Growth Fund | Third Ave Value Fund | Lazard Equity Portfolio Fund | Strong International Bond Fund | Prudential Jennison Growth Fund | Gabelli Asset Fund | Invesco Select Income Fund | BlackRock International Bond Portfolio Fund | Janus Flexible Income Fund | Van Kampen Comstock Fund | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||||||||
| Dividend income | $ | -- | $ | 198 | $ | 187 | $ | 397 | $ | -- | $ | 16 | $ | 190 | $ | 34 | $ | 108 | $ | 99 | ||||||||||||
| Net realized gain (loss) | -- | -- | (24 | ) | -- | (864 | ) | -- | -- | -- | 40 | 572 | ||||||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||||||||
| (depreciation) in fair value | ||||||||||||||||||||||||||||||||
| of investments | (4,506 | ) | (149 | ) | (692 | ) | (1 | ) | (621 | ) | 66 | (108 | ) | (28 | ) | (7 | ) | (399 | ) | |||||||||||||
| Contributions | 6,209 | 12,158 | 3,560 | 6,093 | 4,691 | 5,315 | 4,975 | 3,000 | 2,950 | 5,991 | ||||||||||||||||||||||
| Transfers among funds | 2,539 | -- | -- | -- | 530 | -- | -- | -- | -- | -- | ||||||||||||||||||||||
| Total additions | 4,244 | 12,207 | 3,031 | 6,489 | 3,736 | 5,397 | 5,057 | 3,006 | 3,091 | 6,263 | ||||||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||||
| Transfers among funds | -- | -- | (587 | ) | -- | (3,397 | ) | -- | (111 | ) | -- | (751 | ) | (4,950 | ) | |||||||||||||||||
| Total deductions | -- | -- | (587 | ) | -- | (3,397 | ) | -- | (111 | ) | -- | (751 | ) | (4,950 | ) | |||||||||||||||||
| Net increase (decrease) in plan equity | 4,244 | 12,207 | 2,444 | 6,489 | 339 | 5,397 | 4,946 | 3,006 | 2,340 | 1,313 | ||||||||||||||||||||||
| Plan equity at beginning of year | 8,983 | -- | 7,106 | 2,321 | 8,440 | -- | -- | -- | 625 | 1,556 | ||||||||||||||||||||||
| Plan equity at end of year | $ | 13,227 | $ | 12,207 | $ | 9,550 | $ | 8,810 | $ | 8,779 | $ | 5,397 | $ | 4,946 | $ | 3,006 | $ | 2,965 | $ | 2,869 | ||||||||||||
|
The accompanying notes are an integral part of these financial statements. -5- |
Linens ’n Things,
Inc.
|
| Janus Growth and Income Fund | Strong Multi-Cap Value Fund | Putnam US Government Income Fund | Van Kampen Aggressive Growth Fund | Royce Pennsylvania Mutual Investors Fund | Lazard International Fixed Income Portfolio Fund | Prudential Money Market Assets Fund | Target Portfolio Trust | Janus Invest 20 Fund | Robertson Stephens Growth & Income Fund | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||||||||
| Dividend income | $ | 19 | $ | 6 | $ | 64 | $ | -- | $ | 18 | $ | 3 | $ | -- | $ | -- | $ | -- | $ | -- | ||||||||||||
| Net realized gain (loss) | -- | -- | -- | -- | 143 | -- | -- | -- | (232,934 | ) | (526 | ) | ||||||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||||||||
| (depreciation) in fair value | ||||||||||||||||||||||||||||||||
| of investments | (160 | ) | 767 | 10 | (231 | ) | 173 | 478 | -- | 2 | 126,128 | 405 | ||||||||||||||||||||
| Contributions | 3,006 | 1,350 | 1,965 | 2,027 | 458 | 540 | -- | -- | -- | -- | ||||||||||||||||||||||
| Transfers among funds | -- | -- | -- | -- | 193 | -- | -- | -- | -- | -- | ||||||||||||||||||||||
| Total additions | 2,865 | 2,123 | 2,039 | 1,796 | 985 | 1,021 | -- | 2 | (106,806 | ) | (121 | ) | ||||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||||
| Transfers among funds | (55 | ) | -- | (55 | ) | (28 | ) | (1,558 | ) | -- | -- | -- | (518,088 | ) | (706 | ) | ||||||||||||||||
| Total deductions | (55 | ) | -- | (55 | ) | (28 | ) | (1,558 | ) | -- | -- | -- | (518,088 | ) | (706 | ) | ||||||||||||||||
| Net increase (decrease) in plan equity | 2,810 | 2,123 | 1,984 | 1,768 | (573 | ) | 1,021 | -- | 2 | (624,894 | ) | (827 | ) | |||||||||||||||||||
| Plan equity at beginning of year | -- | -- | -- | -- | 2,115 | -- | 851 | 321 | 624,894 | 827 | ||||||||||||||||||||||
| Plan equity at end of year | $ | 2,810 | $ | 2,123 | $ | 1,984 | $ | 1,768 | $ | 1,542 | $ | 1,021 | $ | 851 | $ | 323 | $ | 0 | $ | 0 | ||||||||||||
|
The accompanying notes are an integral part of these financial statements. -6- |
Linens ’n Things,
Inc.
|
| Contributions receivable- participants | Total plan equity | |||||||
|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||
| Investment income (loss): | ||||||||
| Dividend income | $ | -- | $ | 62,722 | ||||
| Net realized gain (loss) | -- | (528, 812) | ||||||
| Net unrealized appreciation | ||||||||
| (depreciation) in fair value | ||||||||
| of investments | -- | (83,394 | ) | |||||
| Contributions | 4,345 | 519,104 | ||||||
| Transfers among funds | -- | 5,241,037 | ||||||
| Total additions | 4,345 | 5,210,657 | ||||||
| Deductions from plan equity attributed to: | ||||||||
| Distributions | -- | (205,904 | ) | |||||
| Transfers among funds | (16,165 | ) | (5,241,037 | ) | ||||
| Total deductions | (16,165 | ) | (5,446,941 | ) | ||||
| Net increase (decrease) in plan equity | (11,820 | ) | (236,284 | ) | ||||
| Plan equity at beginning of year | 16,165 | 6,382,107 | ||||||
| Plan equity at end of year | $ | 4,345 | $ | 6,145,823 | ||||
|
The accompanying notes are an integral part of these financial statements. -7- |
Linens ’n Things,
Inc.
|
| Davis New York Venture Fund | Dreyfus Appreciation Fund | Alliance Premier Growth A Fund | American Century Income & Growth Fund | Janus Invest 20 Fund |
Baron Asset Fund | Linens ’n Things, Inc. Common Stock Fund |
Franklin Small Cap Growth Fund | Common Stock Fund | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||||||
| Dividend income | $ | 12,876 | $ | 16,211 | $ | 465 | $ | 7,169 | $ | -- | $ | -- | $ | -- | $ | 1,910 | $ | -- | ||||||||||||
| Net realized gain (loss) | 817 | 2,082 | 3,203 | 115 | 65,423 | (8,767 | ) | -- | 28,311 | 13,605 | ||||||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||||||
| (depreciation) in fair value | ||||||||||||||||||||||||||||||
| of investments | 34,093 | (13,493 | ) | (230,468 | ) | (100,296 | ) | (424,327 | ) | (3,610 | ) | (11,252 | ) | (54,687 | ) | (230,574 | ) | |||||||||||||
| Contributions | 96,126 | 56,809 | 152,985 | 47,577 | -- | 28,997 | 184,954 | 57,270 | 198,973 | |||||||||||||||||||||
| Transfers among funds | 386,077 | 80,816 | 12,553 | 19,762 | 346,836 | 8,541 | -- | 891 | 134,875 | |||||||||||||||||||||
| Total additions | 529,989 | 142,425 | (61,262 | ) | (25,673 | ) | (12,068 | ) | 25,161 | 173,702 | 33,695 | 116,879 | ||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | |||||||||||||||||||||
| Transfers among funds | (27,651 | ) | (13,376 | ) | (54,579 | ) | (13,899 | ) | (203,413 | ) | (90,983 | ) | -- | (71,191 | ) | (55,240 | ) | |||||||||||||
| Total deductions | (27,651 | ) | (13,376 | ) | (54,579 | ) | (13,899 | ) | (203,413 | ) | (90,983 | ) | -- | (71,191 | ) | (55,240 | ) | |||||||||||||
| Net increase (decrease) in plan equity | 502,338 | 129,049 | (115,841 | ) | (39,572 | ) | (215,481 | ) | (65,822 | ) | 173,702 | (37,496 | ) | 61,639 | ||||||||||||||||
| Plan equity at beginning of year | 930,373 | 821,985 | 998,119 | 806,581 | 840,375 | 529,298 | 194,429 | 248,135 | 64,724 | |||||||||||||||||||||
| Plan equity at end of year | $ | 1,432,711 | $ | 951,034 | $ | 882,278 | $ | 767,009 | $ | 624,894 | $ | 463,476 | $ | 368,131 | $ | 210,639 | $ | 126,363 | ||||||||||||
|
The accompanying notes are an integral part of these financial statements. -8- |
Linens ’n Things,
Inc.
|
| Prudential Emerging Growth Fund | Strong Government Securities Fund | American Century Value Fund | Deutsche and Investment International Fund | Putnam International Growth Fund | Montgomery Short Duration Government Bond Fund | Gabelli Growth Fund | Prudential Equity Fund | Liberty Stein Roe Capital Opportunities Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 1,273 | $ | 2,434 | $ | 829 | $ | 370 | $ | -- | $ | 1,465 | $ | -- | $ | 314 | $ | 1,069 | |||||||||||
| Net realized gain (loss) | -- | -- | -- | 4,399 | 7,922 | -- | 384 | -- | 4,488 | ||||||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value of | |||||||||||||||||||||||||||||
| investments | (22,456 | ) | 1,214 | 8,141 | (15,693 | ) | (15,779 | ) | (213 | ) | (4,120 | ) | (1,053 | ) | (4,437 | ) | |||||||||||||
| Contributions | 10,070 | 23,764 | 15,947 | 44,808 | 41,837 | 7,502 | 7,984 | 6,398 | 33,004 | ||||||||||||||||||||
| Transfers among funds | 92,162 | 8,382 | 7,136 | 2,449 | 296 | 4,503 | -- | 3,307 | 4,368 | ||||||||||||||||||||
| Total additions | 81,049 | 35,794 | 32,053 | 36,333 | 34,276 | 13,257 | 4,248 | 8,966 | 38,492 | ||||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | -- | (3,704 | ) | -- | (42,325 | ) | (59,128 | ) | -- | (1,769 | ) | -- | (34,930 | ) | |||||||||||||||
| Total deductions | -- | (3,704 | ) | -- | (42,325 | ) | (59,128 | ) | -- | (1,769 | ) | -- | (34,930 | ) | |||||||||||||||
| Net increase (decrease) in plan equity | 81,049 | 32,090 | 32,053 | (5,992 | ) | (24,852 | ) | 13,257 | 2,479 | 8,966 | 3,562 | ||||||||||||||||||
| Plan equity at beginning of year | -- | 23,806 | 15,975 | 50,800 | 64,548 | 16,907 | 25,722 | 18,900 | 22,840 | ||||||||||||||||||||
| Plan equity at end of year | $ | 81,049 | $ | 55,896 | $ | 48,028 | $ | 44,808 | $ | 39,696 | $ | 30,164 | $ | 28,201 | $ | 27,866 | $ | 26,402 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -9- |
Linens ’n Things,
Inc.
|
| Franklin International Fund | Strong Schafer Value Fund | Dreyfus Founders Passport Fund | Command Money Market Fund | Stein Roe Growth and Income Fund | Rainier Small/Mid Cap Equity Fund | Neuberger Berman Genesis Fund | PBHG Emerging Growth Fund | Prudential Jennison Growth Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 620 | $ | -- | $ | 2,497 | $ | 557 | $ | -- | $ | 1,933 | $ | 280 | $ | 212 | $ | -- | |||||||||||
| Net realized gain (loss) | 16 | -- | 4,213 | -- | -- | 17 | 965 | 2,174 | 194 | ||||||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||||||||||
| of investments | (475 | ) | 592 | (17,256 | ) | -- | (779 | ) | (1,384 | ) | 504 | (7,022 | ) | (2,595 | ) | ||||||||||||||
| Contributions | 10,437 | 6,284 | 11,402 | 13,190 | -- | 6,218 | 19,579 | 6,721 | 3,924 | ||||||||||||||||||||
| Transfers among funds | 1,836 | 3,852 | 117 | -- | -- | 232 | 2,501 | 4,459 | 252 | ||||||||||||||||||||
| Total additions | 12,434 | 10,728 | 973 | 13,747 | (779 | ) | 7,016 | 23,829 | 6,544 | 1,775 | |||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | (247 | ) | -- | (14,494 | ) | -- | -- | (57 | ) | (26,911 | ) | (3,517 | ) | (866 | ) | ||||||||||||||
| Total deductions | (247 | ) | -- | (14,494 | ) | -- | -- | (57 | ) | (26,911 | ) | (3,517 | ) | (866 | ) | ||||||||||||||
| Net increase (decrease) in plan equity | 12,187 | 10,728 | (13,521 | ) | 13,747 | (779 | ) | 6,959 | (3,082 | ) | 3,027 | 909 | |||||||||||||||||
| Plan equity at beginning of year | 10,964 | 10,124 | 32,350 | 4,779 | 18,704 | 7,899 | 13,093 | 5,956 | 7,531 | ||||||||||||||||||||
| Plan equity at end of year | $ | 23,151 | $ | 20,852 | $ | 18,829 | $ | 18,526 | $ | 17,925 | $ | 14,858 | $ | 10,011 | $ | 8,983 | $ | 8,440 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -10- |
Linens ’n Things,
Inc.
|
| Lazard Equity Portfolio Fund | Strong International Bond Fund | Royce Pennsylvania Mutual Investors Fund | Van Kampen Comstock Fund | Prudential Money Market Assets Fund | Robertson Stephans Growth & Income fund | Janus Flexible Income Fund | Target Portfolio Trust | Oakmark Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 295 | $ | -- | $ | 23 | $ | 45 | $ | -- | $ | 24 | $ | 78 | $ | 1 | $ | -- | |||||||||||
| Net realized gain (loss) | -- | (311 | ) | 141 | -- | -- | -- | (181 | ) | -- | (210,486 | ) | |||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||||||||||
| of investments | (460 | ) | 239 | (90 | ) | 306 | -- | (402 | ) | (105 | ) | (1 | ) | 83,134 | |||||||||||||||
| Contributions | 5,360 | 3,284 | 9,500 | 1,205 | -- | 1,205 | 3,834 | 321 | -- | ||||||||||||||||||||
| Transfers among funds | 308 | -- | 1,077 | -- | -- | -- | 1,465 | -- | 196,275 | ||||||||||||||||||||
| Total additions | 5,503 | 3,212 | 10,651 | 1,556 | -- | 827 | 5,091 | 321 | 68,923 | ||||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | -- | (3,787 | ) | (13,406 | ) | -- | -- | -- | (7,448 | ) | -- | (572,498 | ) | ||||||||||||||||
| Total deductions | -- | (3,787 | ) | (13,406 | ) | -- | -- | -- | (7,448 | ) | -- | (572,498 | ) | ||||||||||||||||
| Net increase (decrease) in plan equity | 5,503 | (575 | ) | (2,755 | ) | 1,556 | -- | 827 | (2,357 | ) | 321 | (503,575 | ) | ||||||||||||||||
| Plan equity at beginning of year | 1,603 | 2,896 | 4,870 | -- | 851 | -- | 2,982 | -- | 503,575 | ||||||||||||||||||||
| Plan equity at end of year | $ | 7,106 | $ | 2,321 | $ | 2,115 | $ | 1,556 | $ | 851 | $ | 827 | $ | 625 | $ | 321 | $ | -- | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -11- |
Linens ’n Things,
Inc.
|
| Contributions receivable-participants |
Total plan equity | |||||||
|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||
| Investment income (loss): | ||||||||
| Dividend income | $ | -- | $ | 52,951 | ||||
| Net realized gain (loss) | -- | (81,276 | ) | |||||
| Net unrealized appreciation | ||||||||
| (depreciation) in fair value of | ||||||||
| investments | -- | (1,034,805 | ) | |||||
| Contributions | 16,165 | 1,133,634 | ||||||
| Transfers among funds | -- | 1,325,328 | ||||||
| Total additions | 16,165 | 1,395,832 | ||||||
| Deductions from plan equity attributed to: | ||||||||
| Distributions | -- | -- | ||||||
| Transfers among funds | (9,909 | ) | (1,325,328 | ) | ||||
| Total deductions | (9,909 | ) | (1,325,328 | ) | ||||
| Net increase (decrease) in plan equity | 6,256 | 70,504 | ||||||
| Plan equity at beginning of year | 9,909 | 6,311,603 | ||||||
| Plan equity at end of year | $ | 16,165 | $ | 6,382,107 | ||||
|
The accompanying notes are an integral part of these financial statements. -12- |
Linens ’n Things,
Inc.
|
| Alliance Premier Growth A Fund | Davis New York Venture Fund | Janus Invest 20 Fund |
Dreyfus Appreciation Fund | American Century Income & Growth Fund | Baron Asset Fund | Oakmark Fund | Franklin Small Cap Growth Fund | Linens ’n Things, Inc. Common Stock Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 12,553 | $ | 1,974 | $ | 1,806 | $ | 4,145 | $ | 8,611 | $ | -- | $ | 20,066 | $ | 238 | $ | -- | |||||||||||
| Net realized gain (loss) | 310 | 516 | -- | 185 | 1,405 | 63 | (33,401 | ) | 7,771 | -- | |||||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||||||||||
| of investments | 123,623 | 89,858 | 296,021 | 41,259 | 79,794 | 50,106 | (44,171 | ) | 57,425 | (102,388 | ) | ||||||||||||||||||
| Contributions | 165,049 | 165,741 | 104,652 | 128,524 | 127,899 | 85,772 | 104,652 | 30,477 | 296,817 | ||||||||||||||||||||
| Transfers among funds | 701,351 | 677,357 | 437,896 | 652,162 | 606,911 | 393,971 | 553,014 | 201,204 | -- | ||||||||||||||||||||
| Total additions | 1,002,886 | 935,446 | 840,375 | 826,275 | 824,620 | 529,912 | 600,160 | 297,115 | 194,429 | ||||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | (4,767 | ) | (5,073 | ) | -- | (4,290 | ) | (18,039 | ) | (614 | ) | (96,585 | ) | (48,980 | ) | (19 | ) | ||||||||||||
| Total deductions | (4,767 | ) | (5,073 | ) | -- | (4,290 | ) | (18,039 | ) | (614 | ) | (96,585 | ) | (48,980 | ) | (19 | ) | ||||||||||||
| Net increase (decrease) in plan equity | 998,119 | 930,373 | 840,375 | 821,985 | 806,581 | 529,298 | 503,575 | 248,135 | 194,410 | ||||||||||||||||||||
| Plan equity at beginning of year | -- | -- | -- | -- | -- | -- | -- | -- | 19 | ||||||||||||||||||||
| Plan equity at end of year | $ | 998,119 | $ | 930,373 | $ | 840,375 | $ | 821,985 | $ | 806,581 | $ | 529,298 | $ | 503,575 | $ | 248,135 | $ | 194,429 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -13- |
Linens ’n Things,
Inc.
|
| Common Stock Fund | Putnam International Growth Fund | Deutsche and Investment International Fund | Dreyfus Founders Passport Fund | Gabelli Growth Fund | Strong Government Securities Fund | Liberty Stein Roe Capital Opportunities Fund | Prudential Equity Fund | Stein Roe Growth and Income Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | -- | $ | 1,111 | $ | -- | $ | 1,829 | $ | 745 | $ | 1,463 | $ | -- | $ | 250 | $ | 199 | |||||||||||
| Net realized gain (loss) | 22,860 | 9,929 | 6,622 | -- | 5,508 | (635 | ) | 2,136 | -- | 510 | |||||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value | |||||||||||||||||||||||||||||
| of investments | (2,667 | ) | 15,134 | 13,186 | 13,008 | 5,805 | (1,245 | ) | 7,197 | 173 | 1,787 | ||||||||||||||||||
| Contributions | -- | 22,720 | 39,427 | 11,212 | 9,857 | 19,564 | 11,912 | 3,822 | 10,658 | ||||||||||||||||||||
| Transfers among funds | 221,928 | 105,476 | 128,912 | 6,301 | 80,085 | 21,689 | 15,300 | 14,655 | 15,364 | ||||||||||||||||||||
| Total additions | 242,121 | 154,370 | 188,147 | 32,350 | 102,000 | 40,836 | 36,545 | 18,900 | 28,518 | ||||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Transfers among funds | (177,397 | ) | (89,822 | ) | (137,347 | ) | -- | (76,278 | ) | (59,948 | ) | (13,705 | ) | -- | (9,814 | ) | |||||||||||||
| Total deductions | (177,397 | ) | (89,822 | ) | (137,347 | ) | -- | (76,278 | ) | (59,948 | ) | (13,705 | ) | -- | (9,814 | ) | |||||||||||||
| Net increase (decrease) in plan equity | 64,724 | 64,548 | 50,800 | 32,350 | 25,722 | (19,112 | ) | 22,840 | 18,900 | 18,704 | |||||||||||||||||||
| Plan equity at beginning of year | -- | -- | -- | -- | -- | 42,918 | -- | -- | -- | ||||||||||||||||||||
| Plan equity at end of year | $ | 64,724 | $ | 64,548 | $ | 50,800 | $ | 32,350 | $ | 25,722 | $ | 23,806 | $ | 22,840 | $ | 18,900 | $ | 18,704 | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -14- |
Linens ’n Things,
Inc.
|
| Montgomery Short Duration Government Bond Fund | American Century Value Fund | Neuberger Berman Genesis Fund | Franklin International Fund | Strong Schafer Value Fund | Rainier Small/Mid Cap Equity Fund | Prudential Jennison Growth Fund | PBHG Emerging Growth Fund | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||
| Dividend income | $ | 978 | $ | 1,483 | $ | 68 | $ | 130 | $ | 102 | $ | $ | 146 | $ | -- | |||||||||||
| Net realized gain (loss) | (150 | ) | 1,495 | 530 | 2,959 | -- | -- | -- | -- | |||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||
| (depreciation) in fair value | ||||||||||||||||||||||||||
| of investments | (407 | ) | (2,386 | ) | 1,197 | 1,831 | (714 | ) | 1,912 | 1,384 | 2,962 | |||||||||||||||
| Contributions | 13,285 | 16,722 | 9,204 | 7,316 | 5,261 | 4,928 | 1,571 | 2,464 | ||||||||||||||||||
| Transfers among funds | 12,445 | 9,421 | 6,594 | 15,780 | 5,475 | 1,059 | 4,430 | 530 | ||||||||||||||||||
| Total additions | 26,151 | 26,735 | 17,593 | 28,016 | 10,124 | 7,899 | 7,531 | 5,956 | ||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||
| Transfers among funds | (9,244 | ) | (10,760 | ) | (1,157,984 | ) | (17,052 | ) | -- | -- | -- | -- | ||||||||||||||
| Total deductions | (9,244 | ) | (10,760 | ) | (1,157,984 | ) | (17,052 | ) | -- | -- | -- | -- | ||||||||||||||
| Net increase (decrease) in plan equity | 16,907 | 15,975 | (1,140,391 | ) | 10,964 | 10,124 | 7,899 | 7,531 | 5,956 | |||||||||||||||||
| Plan equity at beginning of year | -- | -- | 1,153,484 | -- | -- | -- | -- | -- | ||||||||||||||||||
| Plan equity at end of year | $ | 16,907 | $ | 15,975 | $ | 13,093 | $ | 10,964 | $ | 10,124 | $ | 7,899 | $ | 7,531 | $ | 5,956 | ||||||||||
|
The accompanying notes are an integral part of these financial statements. -15- |
Linens ’n Things,
Inc.
|
| Royce Pennsylvania Mutual Investors Fund | Common Money Market Fund | Janus Flexible Income Fund | Strong International Bond Fund | Lazard Equity Portfolio Fund | Prudential Money Market Assets Fund | Robertson Stephens Growth & Income Fund | Invesco Select Income Fund | Target Large Cap Value Fund | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | |||||||||||||||||||||||||||||
| Investment income (loss): | |||||||||||||||||||||||||||||
| Dividend income | $ | 125 | $ | 185 | $ | 543 | $ | 142 | $ | 19 | $ | 138 | $ | -- | $ | 29 | $ | 68 | |||||||||||
| Net realized gain (loss) | 224 | -- | (413 | ) | (502 | ) | 4,906 | -- | 37 | (59 | ) | 2,965 | |||||||||||||||||
| Net unrealized appreciation | |||||||||||||||||||||||||||||
| (depreciation) in fair value of | |||||||||||||||||||||||||||||
| investments | 313 | -- | (156 | ) | (239 | ) | 49 | 713 | -- | -- | 630 | ||||||||||||||||||
| Contributions | 3,025 | -- | 3,497 | 5,816 | 6,103 | -- | 374 | 730 | 3,435 | ||||||||||||||||||||
| Transfers among funds | 3,296 | 959,252 | 8,493 | 10,593 | 66,210 | -- | -- | 530 | 32,338 | ||||||||||||||||||||
| Total additions | 6,983 | 959,437 | 11,964 | 15,810 | 77,287 | 851 | 411 | 1,230 | 39,436 | ||||||||||||||||||||
| Deductions from plan equity attributed to: | |||||||||||||||||||||||||||||
| Distributions | -- | (954,469 | ) | -- | -- | -- | -- | -- | -- | -- | |||||||||||||||||||
| Transfers among funds | (2,113 | ) | (27,276 | ) | (8,982 | ) | (12,914 | ) | (75,684 | ) | -- | (411 | ) | (1,230 | ) | (39,436 | ) | ||||||||||||
| Total deductions | (2,113 | ) | (981,745 | ) | (8,982 | ) | (12,914 | ) | (75,684 | ) | -- | (411 | ) | (1,230 | ) | (39,436 | ) | ||||||||||||
| Net increase (decrease) in plan equity | 4,870 | (22,308 | ) | 2,982 | 2,896 | 1,603 | 851 | -- | -- | -- | |||||||||||||||||||
| Plan equity at beginning of year | -- | 27,087 | -- | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
| Plan equity at end of year | $ | 4,870 | $ | 4,779 | $ | 2,982 | $ | 2,896 | $ | 1,603 | $ | 851 | $ | -- | $ | -- | $ | -- | |||||||||||
|
The accompanying notes are an integral part of these financial statements. -16- |
Linens ’n Things,
Inc.
|
| Prudential Small Cap Fund | Prudential Mid Cap Value Fund | Prudential Emerging Growth Fund | T. Rowe Price Blue Chip Growth Fund | Scudder Value Fund | Warburg Pincus Emerging Growth Fund | Contributions receivable-participants | Total plan equity | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additions to plan equity attributed to: | ||||||||||||||||||||||||||
| Investment income (loss): | ||||||||||||||||||||||||||
| Dividend income | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | 59,146 | ||||||||||
| Net realized gain (loss) | 5,160 | 84 | 7,268 | -- | -- | -- | -- | 48,283 | ||||||||||||||||||
| Net unrealized appreciation | ||||||||||||||||||||||||||
| (depreciation) in fair value of | ||||||||||||||||||||||||||
| investments | -- | -- | -- | -- | -- | -- | -- | 650,994 | ||||||||||||||||||
| Contributions | 3,051 | 745 | 3,052 | -- | -- | -- | 9,909 | 1,439,243 | ||||||||||||||||||
| Transfers among funds | 33,447 | -- | 32,339 | -- | -- | -- | -- | 6,035,808 | ||||||||||||||||||
| Total additions | 41,658 | 829 | 42,659 | -- | -- | -- | 9,909 | 8,233,474 | ||||||||||||||||||
| Deductions from plan equity attributed to: | ||||||||||||||||||||||||||
| Distributions | -- | -- | -- | -- | -- | -- | -- | (954,469 | ) | |||||||||||||||||
| Transfers among funds | (41,658 | ) | (829 | ) | (42,659 | ) | (2,162,648 | ) | (1,240,677 | ) | (431,042 | ) | (10,531 | ) | (6,035,808 | ) | ||||||||||
| Total deductions | (41,658 | ) | (829 | ) | (42,659 | ) | (2,162,648 | ) | (1,240,677 | ) | (431,042 | ) | (10,531 | ) | (6,990,277 | ) | ||||||||||
| Net increase (decrease) in plan equity | -- | -- | -- | (2,162,648 | ) | (1,240,677 | ) | (431,042 | ) | (622 | ) | 1,243,197 | ||||||||||||||
| Plan equity at beginning of year | -- | -- | -- | 2,162,648 | 1,240,677 | 431,042 | 10,531 | 5,068,406 | ||||||||||||||||||
| Plan equity at end of year | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | -- | $ | 9,909 | $ | 6,311,603 | ||||||||||
|
The accompanying notes are an integral part of these financial statements. -17- |
LINENS ’N THINGS, INC.
|
| 1. | Description of the Plan |
| The following brief description of the Linens ’n Things, Inc. Deferred Compensation Plan (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan documents for more complete information. |
| General |
| The Plan is sponsored by Linens ’n Things, Inc., (the “Company”). The Plan was established to enable key employees of the Company to defer compensation, including stock and stock denominated awards, for personal income tax purposes. The participant directed, non-qualified Plan was adopted on December 30, 1996 and is treated as a plan maintained for a select group of management or highly compensated individuals under the Employee Retirement Income Security Act of 1974 (“ERISA”). The Plan is not taxable as a separate entity under the Internal Revenue Code as the Plan is intended to be a grantor trust, of which the Company is the grantor, within the meaning of subpart E, part 1, subchapter J, Chapter 2, subtitle A of the Internal Revenue Code of 1986, as amended. |
| Eligibility and Vesting |
| The Plan covers key employees, as designated by the Company. Participation is voluntary and participants can elect to make contributions to the Plan. Participants can defer up to 100% of their annual base pay over the social security limit of $80,400 and $76,200 for the years ended 2001 and 2000, respectively, all or part of their bonus or part of any vested restricted stock. Participants are 100% vested in their own deferrals to the Plan at all times. |
| Participant Accounts |
| An account is maintained for each participant in the Plan, which shows the participant’s separate interest in each investment fund of the Plan. Each participant shall elect the allocation of contributions to specific funds within the Plan. The participant’s account is credited, as of the end of each month, with the amount of deferred compensation contributed and the appropriate investment income or loss of each fund. |
| Participants are eligible for distribution of their benefits in cash or Company common stock (if the participant has invested in Company common stock) upon retirement, death, termination of service, in the event of a designated change of control of the Company, and in the event of immediate unexpected financial needs of the participant subject to approval of the Compensation Committee, as the Plan is not subject to the hardship rules of Section 401 of the Internal Revenue Code. In the event of a change in control, payments in settlement of a participant’s account shall be made within fifteen business days following such change in control. |
| Grantor Trust |
| The Plan is intended to constitute an unfunded plan for deferred compensation purposes. Participants rely solely on the unsecured promise of the Company for plan payments. However, the Company established a Grantor (Rabbi) Trust (the “Trust”) to hold assets, which may be used to satisfy its obligations under the Plan. The Trust shall be governed by and subject to the terms of a trust agreement entered into between the Company, as grantor, and the trustee, Prudential Trust Company. |
| Investments |
| A description of the Plan’s investments for the years ended December 31, 2001, 2000 and 1999 are as follows: |
| Alliance Premier Growth A Fund–This fund seeks long-term growth of capital. The fund normally invests at least 85% of assets in domestic equities including stocks, convertibles, and warrants. The portfolio typically holds 40 stocks, 25 of which usually constitute approximately 70% of assets. |
| American Century Income & Growth Fund–This fund seeks dividend growth, current income, and capital appreciation. The fund invests primarily in common stocks selected from a universe of the 1,500 largest companies traded in the United States. |
| American Century Value Fund–This fund seeks long-term capital appreciation. Income is secondary. The fund usually invests at least 80% of assets in equity securities issued by well-established medium and large-size companies. |
| Baron Asset Fund–This fund seeks capital appreciation. The fund invests in companies with market capitalizations between $100 million and $2 billion that the advisor believes have undervalued assets or favorable growth prospects. |
| BlackRock International Bond Portfolio Fund–This fund seeks current income consistent with preservation of capital. The fund normally invests in debt securities issued by foreign sovereign governments, supranational organizations, foreign banks and bank holding companies, and foreign corporations. |
| Command Money Market Fund–This money market fund seeks capital preservation and current income. |
| Davis New York Venture Fund–This fund seeks growth of capital. The fund invests primarily in equities issued by companies with market capitalization of at least $250 million, though it may also hold securities of smaller companies. |
| Deutsche and Investment International Fund–This fund, previously called BT Investment International Equity Fund, seeks long-term capital appreciation. The fund normally invests at least 65% of assets in equities issued by companies domiciled in at least three foreign countries. It may invest in securities of emerging market countries. |
| Dreyfus Appreciation Fund–This fund seeks long-term growth consistent with the preservation of capital; current income is secondary. The fund invests primarily in common stocks of domestic and foreign issues, common stocks with warrants attached, and debt securities of foreign governments. |
| Dreyfus Founders Passport Fund–This fund seeks capital appreciation. The fund normally invests at least 65% of assets in equity securities trading on foreign markets and issued by companies that are either domiciled outside the U.S., or that derive at least one third of assets in companies with market capitalizations of $550 million or less. |
| Franklin International Fund–This fund seeks long-term growth of capital. The fund normally invests at least 65% of assets in equity securities trading on foreign markets and issued by companies that are either domiciled outside the U.S., or that derive at least 50% of their revenue or pretax income from activities outside the U.S. |
| Franklin Small Cap Growth Fund–This fund seeks long-term capital appreciation. The fund normally invests at least 65% of assets in equity issues of companies that have market capitalization of less than $1 billion. It seeks to invest at least one third of assets in companies with market capitalizations of $550 million or less. |
|
-19- |
LINENS ’N THINGS, INC.
|
| Gabelli Asset Fund–This fund seeks capital growth, current income is a secondary consideration. The adviser generally selects stocks that it believes have favorable value-to-price characteristics; it considers such factors as earnings expectations, earnings and price histories, balance sheet characteristics, and perceived management skills. |
| Gabelli Growth Fund–This fund seeks capital appreciation; current income is a secondary consideration. The fund invests in a diversified portfolio of readily marketable common stocks and convertibles. It invests primarily in securities that management believes to be undervalued and have favorable prospects for earnings growth. |
| Gabelli Value Fund–This fund seeks long-term capital appreciation. The fund invests primarily in common stocks, preferred stocks, and convertibles of companies that management considers to be undervalued. |
| Invesco Select Income Fund–This fund seeks a high level of current income. The fund normally invests at least 90% of assets in bonds and marketable debt of established companies, and in government and municipal issues. It normally invests at least 50% of assets in investment-grade securities. |
| Janus Flexible Income Fund–This fund seeks total return, primarily through income, consistent with capital preservation. The fund ordinarily invests at least 80% of assets in income-producing securities. It may purchase domestic and foreign corporate or government securities of any credit rating or maturity. |
| Janus Growth and Income Fund–The fund seeks long-term growth of capital and current income. The fund invests in any combination of equity and fixed-income securities, provided that at least 25% of assets are maintained in securities selected for their growth potential, and at least 25% of the assets are invested in securities selected for current income. The fixed income portion consists primarily of investment-grade debt, though it may hold up to 35% of assets in debt rated below BBB. |
| Janus Invest 20 Fund–This fund seeks capital appreciation consistent with preservation of capital. The fund invests primarily in a concentrated portfolio of between 20 and 30 stocks. The fund is non-diversified. |
| Lazard Equity Portfolio Fund–This fund seeks capital appreciation. The fund normally invests at least 65% of assets in equity securities. It typically invests in companies with market capitalizations of at least $250 million that management judges to be undervalued relative to the productivity of their equity and/or assets. |
| Lazard International Fixed Income Portfolio Fund–This fund seeks total return. The fund normally invests at least 65% of assets in debt securities issued in at least three foreign countries. The fund’s average weighted duration typically ranges between two and eight years. The fund may invest up to 15% of assets in securities rated below investment-grade. |
| Liberty Stein Roe Capital Opportunities Fund–This fund seeks long-term capital appreciation. The fund invests primarily in equity securities, though it may put up to 35% of assets in debt securities. It may invest in securities of established companies, as well as those of smaller companies that may benefit from new products, technological developments, or management changes. |
| Linens ’n Things, Inc. Common Stock Fund–This fund consists of the Company’s common stock. |
| Montgomery Short Duration Government Bond Fund–This fund seeks total return consistent with capital preservation. The fund normally invests at least 65% of assets in U.S. government obligations. |
| Mutual Beacon Fund–This fund seeks capital appreciation, income is secondary. The fund invests in common and preferred stocks, and corporate debt of any quality. It may also invest up to 50% of assets in companies involved in mergers, consolidations, liquidations, and reorganizations. |
| Neuberger Berman Genesis Fund–This fund seeks capital appreciation. The fund invests primarily in common stocks of companies with market capitalizations less than $1.5 billion at the time of purchase. |
| Oakmark Fund–This fund seeks long-term capital appreciation. The fund principally invests in United States securities. It may invest up to 25% of assets in foreign securities. |
|
See accompanying notes to financial statements. -20- |
LINENS ’N THINGS, INC.
|
| PBHG Emerging Growth Fund–This fund seeks long-term growth of capital. The fund normally invests at least 65% of assets in common stocks of U.S. companies with capitalizations or revenues of up to $500 million. |
| Prudential Emerging Growth Fund–This fund seeks long-term capital appreciation. The fund normally invests at least 65% of assets in equities issued by small and mid-sized U.S. companies, with market capitalizations ranging between $500 million and $4.5 billion. |
| Prudential Equity Fund–This fund seeks long-term growth of capital. The fund invests primarily of common stocks of major, established companies. It may also invest in preferred stocks, convertibles, and debt securities. |
| Prudential Jennison Growth Fund–This fund seeks long-term growth of capital. The fund normally invests at least 65% of assets in equities issued by companies with market capitalizations exceeding $1 billion. |
| Prudential Mid Cap Value Fund–This fund seeks long-term capital growth. The fund normally invests at least 65% of assets in equity securities of mid capitalization companies that the advisor believes to be undervalued. |
| Prudential Money Market Assets Fund–This money market fund seeks capital preservation and current income. |
| Prudential Short-Term Corporate Bond Fund–This fund seeks current income. The fund invests primarily in investment-grade corporate debt securities and US government securities with maturities of six or fewer years. Assets are allocated among six annual maturity categories with each category representing approximately one-sixth of assets. |
| Prudential Small Cap Fund–This fund seeks capital growth. The fund invests primarily in common stocks selected for their low valuations relative to the companies’earnings, assets, cash flow, and dividends. Although the fund may invest in companies of any size, it typically focuses on companies with market capitalizations of less than $1.5 billion. |
| Putnam International Growth Fund–This fund seeks capital appreciation. The fund normally invests at least 65% of assets in equity securities of companies located outside of the United States. It may invest in companies of any size that it judges to be in a strong growth trend or that it believes to be undervalued. |
| Putnam US Government Income Fund–This fund normally invest in bonds that are obligations of the US government, its agencies and instrumentalities. The bonds typically have intermediate to long-term maturities. |
| Rainier Small/Mid Cap Equity Fund–This fund seeks long-term capital appreciation. The fund normally invests at least 65% of assets in equities issued by companies with small and medium market capitalizations. |
| Robertson Stephens Growth &Income Fund–This fund seeks long-term total return. The fund invests primarily in equity and debt securities. Management intends to focus on common stocks issued by companies with market capitalizations of $3 billion or less, but may also invest in larger companies. Investments may include preferred stocks, convertible securities, bonds, and notes. |
| Royce Pennsylvania Mutual Investors Fund–This fund seeks long-term growth of capital; income is incidental. The fund normally invests at least 65% of assets in common stocks and convertible securities issued by companies with market capitalizations under $1 billion. |
| Scudder Value Fund–The fund seeks long-term growth of capital through investment in equity securities that the fund considers undervalued in the marketplace. The fund invests in common stocks, preferred stocks, and securities convertible into common stocks. It invests primarily in the equity securities of medium-to-large-sized U.S. companies with annual revenues or market capitalization of at least $600 million. |
|
See accompanying notes to financial statements. -21- |
LINENS ’N THINGS, INC.
|
| Stein Roe Growth and Income Fund–This fund seeks capital growth and current income. The fund invests primarily in equity securities issued by companies with market capitalizations in excess of $1 billion. Its investments may include common stocks, preferred stocks, convertible securities, and warrants or rights to purchase common stocks. |
| Strong Government Securities Fund–The fund seeks total return by investing for a high level of current income with a moderate degree of share-price fluctuation. The fund invests primarily in higher quality bonds issued by the U.S. government or its agencies. |
| Strong International Bond Fund–This fund seeks total return. The fund normally invests at least 65% of assets in investment-grade debt securities of issuers in at least three foreign countries. It may invest up to 35% of assets in securities rated below investment-grade, but no lower than C. |
| Strong Multi-Cap Value Fund–This fund seeks long-term capital appreciation; current income is a secondary consideration. The fund primarily invests in the common stocks of established companies that it believes have strong financial positions and low stock market valuations relative to their intrinsic investment values. |
| Strong Schafer Value Fund–This fund seeks long-term capital appreciation; current income is a secondary consideration. The fund invests primarily in common stocks of established companies. In selecting securities, management focuses on companies that it believes to have strong financial positions and low stock market valuations relative to their intrinsic investment values. |
| Target Large Cap Value Fund–This fund seeks total return consisting of capital appreciation and dividend income. The fund normally invests at least 80% of assets in common stocks and convertible securities; it invests at least 65% of assets in dividend-paying common stocks. It invests at least 65% of assets in common stocks issued by companies with large market capitalizations. |
| Target Portfolio Trust–This money market fund seeks capital preservation and current income. |
| Target US Government Money Market Fund–This money market fund seeks capital preservation and current income. |
| Third Avenue Value Fund–The fund seeks long-term capital appreciation. The fund invests in equity and debt securities issued by companies that management believes to be undervalued and to have strong financial positions and responsible management. |
| T. Rowe Price Blue Chip Growth Fund–The fund’s objective is long-term capital growth. The fund’s strategy is to invest primarily in common stocks of large and medium-sized blue chip companies that have the potential for above-average growth in earnings and are well established in their respective industries. |
| Van Kampen Aggressive Growth Fund–This fund seeks capital growth. This fund normally invests at least 65% of assets in equities issued by small- and medium-capitalization companies. It may invest without limit in special situations, such as new management, mergers or liquidations. |
| Van Kampen Comstock Fund–This fund seeks capital growth and income. Investments are primarily in common stocks, but the fund may invest up to 10% of its assets in high quality short-term debt or investment grade corporate or government bonds. |
| Warburg Pincus Emerging Growth Fund–The fund seeks maximum capital appreciation. The fund invests in U.S. equity securities of emerging growth companies. Emerging growth companies are small or medium sized companies that have passed their start-up phase, show positive earnings, and offer the potential for accelerated earnings growth. |
|
See accompanying notes to financial statements. -22- |
LINENS ’N THINGS, INC.
|
| 2. | Summary of Significant Accounting Policies |
| a) | Basis of Presentation |
| The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting. |
| b) | Investment valuation |
| The Plan’s investments consist of mutual funds, money market funds and a Company common stock fund. The Plan’s investments are presented at their fair market values based on quoted market prices of the funds or their underlying securities. Purchases and sales of investments are recorded on a trade-date basis. Realized gains and losses from security transactions are based on the first-in, first out method. Dividends are recorded on the ex-dividend date. Interest is recorded when earned. |
| 3. | Plan Termination |
| Although the Company has not expressed any intent to terminate the Plan, it may do so at any time. In the event the Plan is terminated, all sums credited to individual accounts would be distributed to participants. |
| 4. | Recent Accounting Pronouncements |
| The Plan is required to adopt Statement of Financial Standards (“SFAS”) No. 133 “Accounting for Derivative Instruments and Hedging Activities”(“SFAS No. 133”). This statement was effective for the first quarter of fiscal years beginning after June 15, 2000. For the Plan, implementation was required for the first quarter of fiscal 2001. The Plan has determined that the implementation of SFAS No. 133 did not have a significant effect on the Plan. |
| 5. | Use of Estimates |
| In preparing the Plan’s financial statements, management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to present these financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates. |
| 6. | Risks and Uncertainties |
| The assets of the Plan are primarily financial instruments, which are monetary in nature. As a result, interest rates and equity markets have a more significant impact on the Plan’s performance than the effects of general levels of inflation. Interest rates and equity markets do not necessarily move in the same direction or in the same magnitude as the prices of goods and services as measured by the consumer price index. Investments are subject to risk conditions of the individual fund objectives, the stock market, interest rates, economic conditions and world affairs. The Plan’s exposure to a concentration of credit risk is limited by the diversification of investments across participant-directed fund election. Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments with the exception of Linens ’n Things Inc. Common Stock Fund which principally invests in a single security. |
| 7. | Administrative Expenses |
| All administrative costs of the Plan are borne by the Company. |
|
See accompanying notes to financial statements. -24- |
LINENS ’N THINGS, INC.
|
| 8. | Number of Participants |
| At December 31, 2001 and 2000, there were 22 and 18 participants in the Plan, respectively. The following table summarizes the number of participants in each fund at December 31, 2001 and 2000: |
| Number of Participants | ||||||||
|---|---|---|---|---|---|---|---|---|
| Fund | 12/31/01 | 12/31/00 | ||||||
| Command Money Market Fund | 20 | 17 | ||||||
| Linens ’n Things, Inc. Common Stock Fund | 5 | 4 | ||||||
| Davis New York Venture Fund | 13 | 16 | ||||||
| Dreyfus Appreciation Fund | 10 | 10 | ||||||
| Mutual Beacon Fund | 3 | 0 | ||||||
| Alliance Premier Growth A Fund | 14 | 17 | ||||||
| American Century Income & Growth Fund | 13 | 13 | ||||||
| Common Stock Fund | 1 | 1 | ||||||
| Prudential Short-Term Corporate Bond Fund | 1 | 0 | ||||||
| Franklin Small Cap Growth Fund | 9 | 10 | ||||||
| Oakmark Fund | 2 | 0 | ||||||
| Prudential Emerging Growth Fund | 2 | 2 | ||||||
| American Century Value Fund | 7 | 7 | ||||||
| Strong Government Securities Fund | 7 | 4 | ||||||
| Deutsche and Investment International Fund | 8 | 9 | ||||||
| Baron Asset Fund | 6 | 10 | ||||||
| Liberty Stein Roe Capital Opportunities Fund | 7 | 7 | ||||||
| Montgomery Short Duration Government Bond Fund | 2 | 2 | ||||||
| Franklin International Fund | 4 | 5 | ||||||
| Gabelli Growth Fund | 2 | 3 | ||||||
| Target US Government Money Market Fund | 4 | 0 | ||||||
| Prudential Equity Fund | 1 | 1 | ||||||
| Dreyfus Founders Passport Fund | 3 | 5 | ||||||
| Strong Schafer Value Fund | 3 | 3 | ||||||
| Rainier Small/Mid Cap Equity Fund | 1 | 1 | ||||||
| Gabelli Value Fund | 5 | 0 | ||||||
| Putnam International Growth Fund | 5 | 6 | ||||||
| Neuberger Berman Genesis Fund | 2 | 2 | ||||||
| Stein Roe Growth and Income Fund | 3 | 3 | ||||||
| PBHG Emerging Growth Fund | 1 | 1 | ||||||
| Third Avenue Value Fund | 1 | 0 | ||||||
| Lazard Equity Portfolio Fund | 1 | 2 | ||||||
| Strong International Bond Fund | 2 | 1 | ||||||
| Prudential Jennison Growth Fund | 4 | 4 | ||||||
| Gabelli Asset Fund | 1 | 0 | ||||||
| Invesco Select Income Fund | 3 | 0 | ||||||
| BlackRock International Bond Portfolio Fund | 1 | 0 | ||||||
|
See accompanying notes to financial statements. -25- |
LINENS ’N THINGS, INC.
|
| Fund | 12/31/01 | 12/31/00 | ||||||
|---|---|---|---|---|---|---|---|---|
| Janus Flexible Income Fund | 1 | 1 | ||||||
| Van Kampen Comstock Fund | 3 | 1 | ||||||
| Janus Growth and Income Fund | 3 | 0 | ||||||
| Strong Multi-Cap Value Fund | 3 | 0 | ||||||
| Putnam US Government Income Fund | 1 | 0 | ||||||
| Van Kampen Aggressive Growth Fund | 3 | 0 | ||||||
| Royce Pennsylvania Mutual Investors Fund | 1 | 2 | ||||||
| Lazard International Fixed Income Portfolio Fund | 1 | 0 | ||||||
| Prudential Money Market Assets Fund | 1 | 1 | ||||||
| Target Portfolio Trust | 2 | 2 | ||||||
| Janus Invest 20 Fund | 0 | 2 | ||||||
| Robertson Stephens Growth & Income Fund | 0 | 1 | ||||||
|
See accompanying notes to financial statements. -26- |
LINENS ’N THINGS, INC.
|
| 9. | Aggregate Costs and Proceeds from Sales and Net Realized Gains (losses) by Fund |
| The aggregate costs, aggregate proceeds from sales and the net realized gains (losses) by fund for the years ended December 31, 2001, 2000 and 1999 were as follows: |
2001 Dispositions |
| Fund | Cost | Proceeds | Net Realized Gain (Loss) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Davis New York Venture Fund | $ | 901,106 | $ | 923,161 | $ | 22,055 | |||||
| Prudential Short-term Corporate Bond Fund | 869,864 | 861,704 | (8,160 | ) | |||||||
| Alliance Premier Growth A Fund | 823,623 | 550,391 | (273,232 | ) | |||||||
| Janus Invest 20 Fund | 751,022 | 518,088 | (232,934 | ) | |||||||
| Dreyfus Appreciation Fund | 587,122 | 532,024 | (55,098 | ) | |||||||
| American Century Income & Growth Fund | 576,106 | 551,084 | (25,022 | ) | |||||||
| Oakmark Fund | 479,180 | 527,744 | 48,564 | ||||||||
| Baron Asset Fund | 392,371 | 380,359 | (12,012 | ) | |||||||
| Mutual Beacon Fund | 232,219 | 206,072 | (26,147 | ) | |||||||
| Common Stock Fund | 36,796 | 61,061 | 24,265 | ||||||||
| Putnam International Growth Fund | 31,334 | 32,218 | 884 | ||||||||
| Franklin Small Cap Growth Fund | 27,557 | 36,600 | 9,043 | ||||||||
| American Century Value Fund | 8,153 | 8,778 | 625 | ||||||||
| Command Money Fund | 4,860 | 4,860 | 0 | ||||||||
| Van Kampen Common Stock Fund | 4,378 | 4,950 | 572 | ||||||||
| Strong Government Securities Fund | 4,342 | 4,352 | 10 | ||||||||
| Prudential Jennison Growth Fund | 4,261 | 3,397 | (864 | ) | |||||||
| Prudential Equity Funds | 3,515 | 3,049 | (466 | ) | |||||||
| Franklin International Fund | 2,618 | 2,483 | (135 | ) | |||||||
| Montgomery Short Duration Government Bond Fund | 2,381 | 2,379 | (2 | ) | |||||||
| Stein Roe Growth and Income Fund | 2,034 | 1,748 | (286 | ) | |||||||
| Deutsche and Investment International Fund | 1,734 | 1,538 | (196 | ) | |||||||
| Royce Pennsylvania Mutual Investors Fund | 1,415 | 1,558 | 143 | ||||||||
| Strong Schafer Value Fund | 1,306 | 1,306 | 0 | ||||||||
| Robertson Stephens Growth & Income Fund | 1,232 | 706 | (526 | ) | |||||||
|
See accompanying notes to financial statements. -27- |
LINENS ’N THINGS, INC.
|
| Fund | Cost | Proceeds | Net Realized Gain (Loss) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Rainer Small/Mid Cap Equity Fund | 1,220 | 1,270 | 50 | ||||||||
| Janus Flexible Income Fund | 711 | 751 | 40 | ||||||||
| Lazard Equity Portfolio Fund | 611 | 587 | (24 | ) | |||||||
| Liberty Stein Roe Capital Opportunities Fund | 203 | 203 | 0 | ||||||||
| Invesco Select Income Fund | 111 | 111 | 0 | ||||||||
| Neuberger Berman Genesis Fund | 96 | 137 | 41 | ||||||||
| Putnam US Government Income Fund | 55 | 55 | 0 | ||||||||
| Janus Growth and Income Fund | 55 | 55 | 0 | ||||||||
| Dreyfus Founders Passport Fund | 36 | 36 | 0 | ||||||||
| Gabelli Value Fund | 28 | 28 | 0 | ||||||||
| VanKampen Aggressive Growth Fund | 28 | 28 | 0 | ||||||||
| Total | $ | 5,753,683 | $ | 5,224,871 | $ | (528,812 | ) | ||||
|
See accompanying notes to financial statements. -28- |
LINENS ’N THINGS, INC.
|
| Fund | Cost | Proceeds | Net Realized Gain (Loss) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oakmark Fund | $ | 782,984 | $ | 572,498 | $ | (210,486 | ) | ||||
| Janus Invest 20 Fund | 137,990 | 203,413 | 65,423 | ||||||||
| Baron Asset Fund | 99,750 | 90,983 | (8,767 | ) | |||||||
| Alliance Premier Growth A Fund | 51,376 | 54,579 | 3,203 | ||||||||
| Putnam International Growth Fund | 51,206 | 59,128 | 7,922 | ||||||||
| Franklin Small Cap Growth Fund | 42,880 | 71,191 | 28,311 | ||||||||
| Common Stock Fund | 41,635 | 55,240 | 13,605 | ||||||||
| Deutsche and Investment International Fund | 37,926 | 42,325 | 4,399 | ||||||||
| Liberty Stein Roe Capital Opportunities Fund | 30,442 | 34,930 | 4,488 | ||||||||
| Davis New York Venture Fund | 26,834 | 27,651 | 817 | ||||||||
| Neuberger Berman Genesis Fund | 25,946 | 26,911 | 965 | ||||||||
| American Century Income & Growth Fund | 13,784 | 13,899 | 115 | ||||||||
| Royce Pennsylvania Mutual Investors Fund | 13,265 | 13,406 | 141 | ||||||||
| Dreyfus Appreciation Fund | 11,294 | 13,376 | 2,082 | ||||||||
| Dreyfus Founders Passport Fund | 10,281 | 14,494 | 4,213 | ||||||||
| Janus Flexible Income Fund | 7,629 | 7,448 | (181 | ) | |||||||
| Strong International Bond Fund | 4,098 | 3,787 | (311 | ) | |||||||
| Strong Government Securities Fund | 3,704 | 3,704 | 0 | ||||||||
| Gabelli Growth Fund | 1,385 | 1,769 | 384 | ||||||||
| PBGH Emerging Growth Fund | 1,343 | 3,517 | 2,174 | ||||||||
| Prudential Jennison Growth Fund | 672 | 866 | 194 | ||||||||
| Franklin International Fund | 231 | 247 | 16 | ||||||||
| Rainer Small/Mid Cap Equity Fund | 40 | 57 | 17 | ||||||||
| Total | $ | 1,396,695 | $ | 1,315,419 | $ | (81,276 | ) | ||||
|
See accompanying notes to financial statements. -29- |
LINENS ’N THINGS, INC.
|
| Fund | Cost | Proceeds | Net Realized Gain (Loss) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| T. Rowe Price Blue Chip Growth Fund | $ | 2,162,648 | $ | 2,162,648 | $ | 0 | |||||
| Scudder Value Fund | 1,240,677 | 1,240,677 | 0 | ||||||||
| Neuberger Berman Genesis Fund | 1,157,454 | 1,157,984 | 530 | ||||||||
| Warburg Pincus Emerging Growth Fund | 431,042 | 431,042 | 0 | ||||||||
| BT Investment International Equity Fund | 130,725 | 137,347 | 6,622 | ||||||||
| Oakmark Fund | 129,986 | 96,585 | (33,401 | ) | |||||||
| Common Stock Fund | 154,537 | 177,397 | 22,860 | ||||||||
| Putnam International Growth Fund | 79,893 | 89,822 | 9,929 | ||||||||
| Lazard Equity Portfolio Fund | 70,778 | 75,684 | 4,906 | ||||||||
| Gabelli Growth Fund | 70,770 | 76,278 | 5,508 | ||||||||
| Franklin Small Cap Growth Fund | 41,209 | 48,980 | 7,771 | ||||||||
| Prudential Small Cap Fund | 36,498 | 41,658 | 5,160 | ||||||||
| Target Large Cap Value Fund | 36,470 | 39,435 | 2,965 | ||||||||
| Prudential Emerging Growth Fund | 35,391 | 42,659 | 7,268 | ||||||||
| Command Money Market Fund | 27,277 | 27,277 | 0 | ||||||||
| Strong Government Securities Fund | 60,583 | 59,948 | (635 | ) | |||||||
| American Century Income & Growth Fund | 16,634 | 18,039 | 1,405 | ||||||||
| Franklin International Fund | 14,093 | 17,052 | 2,959 | ||||||||
| Liberty Stein Roe Capital Opportunities Fund | 11,569 | 13,705 | 2,136 | ||||||||
| Strong International Bond Fund | 13,416 | 12,914 | (502 | ) | |||||||
|
See accompanying notes to financial statements. -30- |
LINENS ’N THINGS, INC.
|
| Fund | Cost | Proceeds | Net Realized Gain (Loss) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Janus Flexible Income Fund | 9,395 | 8,982 | (413 | ) | |||||||
| Montgomery Short Duration Government Bond Fund | 9,394 | 9,244 | (150 | ) | |||||||
| Stein Roe Growth and Income Fund | 9,304 | 9,814 | 510 | ||||||||
| American Century Value Fund | 9,265 | 10,760 | 1,495 | ||||||||
| Davis New York Venture Fund | 4,557 | 5,073 | 516 | ||||||||
| Alliance Premier Growth A Fund | 4,457 | 4,767 | 310 | ||||||||
| Dreyfus Appreciation Fund | 4,105 | 4,290 | 185 | ||||||||
| Royce Pennsylvania Mutual Investors Fund | 1,889 | 2,113 | 224 | ||||||||
| Invesco Select Income Fund | 1,287 | 1,228 | (59 | ) | |||||||
| Prudential Mid Cap Value Fund | 745 | 829 | 84 | ||||||||
| Baron Asset Fund | 551 | 614 | 63 | ||||||||
| Robertson Stephens Growth & Income Fund | 374 | 411 | 37 | ||||||||
| Linens ’n Things, Inc. Common Stock Fund | 19 | 19 | 0 | ||||||||
| Total | $ | 5,976,992 | $ | 6,025,275 | $ | 48,283 | |||||
|
See accompanying notes to financial statements. -31- |
SIGNATUREPursuant to the requirements of the Securities and Exchange Act of 1934, the members of the Deferred Compensation Committee (which is the administrative committee for the Compensation Committee of the Board of Directors of the Company) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. |
| Dated: August 30, 2002 | Linens ’n Things, Inc. Deferred Compensation Plan Deferred Compensation Committee By: WILLIAM T. GILES ————————————————— William T. Giles Senior Vice President, Chief Financial Officer and Member of the Deferred Compensation Committee |