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Previous: UNITED TECHNOLOGIES CORP /DE/, 11-K, 1999-06-30 |
Next: UNITED TECHNOLOGIES CORP /DE/, 11-K, 1999-06-30 |
<PAGE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information
December 31, 1998
<CAPTION>
Small UTC INVESCO
Company International Common Total
Income Equity Stock Index Euity Index Global Stock Return
Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ 869,825 $ - $ - $ 42,826 $ - $ -
Russell 2000 Equity Index Fund - - 22,461 - - - -
Daily Japanese Equity Index Fund - - - 2,125 - - -
Daily Non Japanese Equity Index Fund - - - 7,982 - - -
Government/Corporate Fixed Income Index
Index Fund - - - - 34,904 - -
Daily International Equity Index Fund - - - - 42,374 - -
United Technologies Corporation Common
Stock - - - - - 266,997 -
Shares of respective registered investment
companies - - - - - - 68,399
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value 4,798,401 - - - - - -
Participant loans, at cost - - - - - - -
Temporary investments, at cost plus
accrued interest - - - - - 1,331 -
Total Investments 4,798,401 869,825 22,461 10,107 120,104 268,328 68,399
-
Plan receivables 3,752 - - - - 2,997 -
Total Assets 4,802,153 869,825 22,461 10,107 120,104 271,325 68,399
Liabilities:
Accrued expenses - - - - - 684 -
Loans payable, net - - - - - - -
Total Liabilities - - - - - 684 -
Net Assets Available for Benefits $4,802,153 $ 869,825 $ 22,461 $ 10,107 $ 120,104 $ 270,641 $ 68,399
Units of participation 71,760 32,144 1,883 797 41,848 14,854 2,181
Unit value $ 66.92 $ 27.06 $ 11.93 $ 12.68 $ 2.87 $ 18.22 $ 31.36
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1998
<CAPTION>
Putnam
Fidelity Putnam New SoGen
Growth & Fund Fidelity Low- PBHG Opportun- Interna-
Income for Growth Fideltiy Priced Stock Growth ities tional
Portfolio and Income Contrafund Fund Fund Fund Fund, Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ - $ - $ - $ - $ - $ -
Russell 2000 Equity Index Fund - - - - - - -
Daily Japanese Equity Index Fund - - - - - - -
Daily Non Japanese Equity Index Fund - - - - - - -
Government/Corporate Fixed Income
Index Fund - - - - - - -
Daily International Equity Index Fund - - - - - - -
United Technologies Corporation Common
Stock - - - - - - -
Shares of respective registered
investment companies 341,591 99,336 119,070 69,652 80,045 144,300 7,180
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value - - - - - - -
Participant loans, at cost - - - - - - -
Temporary investments, at cost plus
accrued interest - - - - - - -
Total Investments 341,591 99,336 119,070 69,652 80,045 144,300 7,180
Plan receivables - - - - - - -
Total Assets 341,591 99,336 119,070 69,652 80,045 144,300 7,180
Liabilities:
Accrued expenses - - - - - - -
Loans payable, net - - - - - - -
Total Liabilities - - - - - - -
Net Assets Available for Benefits $ 341,591 $ 99,336 $ 119,070 $ 69,652 $ 80,045 $ 144,300 $ 7,180
Units of participation 7,452 4,841 2,097 3,048 3,134 2,440 312
Unit value $ 45.84 $ 20.52 $ 56.79 $ 22.85 $ 25.54 $ 59.14 $ 23.03
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1998
<CAPTION>
Templeton
Templeton Developing
Foreign Markets
Fund A Trust A Loan Fund Total
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ - $ - $ 912,651
Russell 2000 Equity Index Fund - - - 22,461
Daily Japanese Equity Index Fund - - - 2,125
Daily Non Japanese Equity Index Fund - - - 7,982
Government/Corporate Fixed Income - - - 34,904
Daily International Equity Index Fund - - - 42,374
United Technologies Corporation Common
Stock - - - 266,997
Shares of respective registered
investment companies 34,931 17,314 - 981,818
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value - - - 4,798,401
Participant loans, at cost - - 256,444 256,444
Temporary investments, at cost plus
accrued interest - - - 1,331
Total Investments 34,931 17,314 256,444 7,327,488
Plan receivables - - - 6,749
Total Assets 34,931 17,314 256,444 7,334,237
Liabilities:
Accrued expenses - - - 684
Loans payable, net - - - -
Total Liabilities - - - 684
Net Assets Available for Benefits $ 34,931 $ 17,314 $ 256,444 $ 7,333,553
Units of participation 4,163 1,681 256,444
Unit value $ 8.39 $ 10.30 $ 1.00
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information
December 31, 1997
<CAPTION>
Small UTC INVESCO
Company International Common Total
Income Equity Stock Index Euity Index Global Stock Return
Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ 492,470 $ - $ - $ 33,343 $ - $ -
Russell 2000 Equity Index Fund - - 10,189 - - - -
Daily Japanese Equity Index Fund - - - 853 - - -
Daily Non Japanese Equity Index Fund - - - 2,560 - - -
Government/Corporate Fixed Income Index
Index Fund - - - - 27,280 - -
Daily International Equity Index Fund - - - - 31,992 - -
United Technologies Corporation Common
Stock - - - - - 104,700 -
Shares of respective registered investment
companies - - - - - - 43,015
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value 3,777,373 - - - - - -
Participant loans, at cost - - - - - - -
Temporary investments, at cost plus
accrued interest - - - - - 1,572 -
Total Investments 3,777,373 492,470 10,189 3,413 92,615 106,272 43,015
-
Plan receivables 1,171 - - - - 224 -
Total Assets 3,778,544 492,470 10,189 3,413 92,615 106,496 43,015
-
Liabilities: -
Accrued expenses - - - - - 676 -
Loans payable, net - - - - - - -
Total Liabilities - - - - - 676 -
Net Assets Available for Benefits $3,778,544 $ 492,470 $ 10,189 $ 3,413 $ 92,615 $ 105,820 $ 43,015
Units of participation 61,248 23,427 842 324 38,950 8,761 1,479
Unit value $ 61.70 $ 21.02 $ 12.10 $ 10.53 $ 2.38 $ 12.08 $ 29.09
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1997
<CAPTION>
Putnam
Fidelity Putnam New SoGen
Growth & Fund Fidelity Low- PBHG Opportun- Interna-
Income for Growth Fideltiy Priced Stock Growth ities tional
Portfolio and Income Contrafund Fund Fund Fund Fund, Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ - $ - $ - $ - $ - $ -
Russell 2000 Equity Index Fund - - - - - - -
Daily Japanese Equity Index Fund - - - - - - -
Daily Non Japanese Equity Index Fund - - - - - - -
Government/Corporate Fixed Income
Index Fund - - - - - - -
Daily International Equity Index Fund - - - - - - -
United Technologies Corporation Common
Stock - - - - - - -
Shares of respective registered
investment companies 166,622 43,507 22,980 56,551 54,493 45,721 7,965
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value - - - - - - -
Participant loans, at cost - - - - - - -
Temporary investments, at cost plus
accrued interest - - - - - - -
Total Investments 166,622 43,507 22,980 56,551 54,493 45,721 7,965
Plan receivables - - - - - - -
Total Assets 166,622 43,507 22,980 56,551 54,493 45,721 7,965
Liabilities:
Accrued expenses - - - - - - -
Loans payable, net - - - - - - -
Total Liabilities - - - - - - -
Net Assets Available for Benefits $ 166,622 $ 43,507 $ 22,980 $ 56,551 $ 54,493 $ 45,721 $ 7,965
Units of participation 4,373 2,224 493 2,250 2,146 931 313
Unit value $ 38.10 $ 19.56 $ 46.63 $ 25.13 $ 25.39 $ 49.10 $ 25.45
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1997
<CAPTION>
Templeton
Templeton Developing
Foreign Markets
Fund A Trust A Loan Fund Total
<S> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Beneficial interests in Bankers Trust
Company Pyramid:
Large Capitalization Equity Index Fund $ - $ - $ - $ 525,813
Russell 2000 Equity Index Fund - - - 10,189
Daily Japanese Equity Index Fund - - - 853
Daily Non Japanese Equity Index Fund - - - 2,560
Government/Corporate Fixed Income - - - 27,280
Daily International Equity Index Fund - - - 31,992
United Technologies Corporation Common - - - 104,700
Stock
Shares of respective registered 30,483 18,525 - 489,862
investment companies
Investments, at contract value or cost:
Beneficial interests in investment
contracts, at contract value - - - 3,777,373
Participant loans, at cost - - 214,335 214,335
Temporary investments, at cost plus
accrued interest - - - 1,572
Total Investments 30,483 18,525 214,335 5,186,529
Plan receivables - - - 1,395
Total Assets 30,483 18,525 214,335 5,187,924
Liabilities:
Accrued expenses - - - 676
Loans payable, net - - - -
Total Liabilities - - - 676
Net Assets Available for Benefits $ 30,483 $ 18,525 $ 214,335 $ 5,187,248
Units of participation 3,064 1,432 214,335
Unit value $ 9.95 $ 12.94 $ 1.00
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1998
<CAPTION>
Small UTC INVESCO
Company Internationl Common Total
Income Equity Stock Index Equity Index Global Stock Return
Fund Fund Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Investment Income:
Net appreciation (depreciation) in fair
value of investments $ - $ 166,849 $ (722) $ 1,100 $ 19,926 $ 72,328 $ 3,809
Interest 342,643 - - - - - -
Dividends - - - - - - 3,153
Total Investment Income 342,643 166,849 (722) 1,100 19,926 72,328 6,962
Contributions:
Participants' 558,419 171,381 12,878 4,065 27,558 98,722 14,488
Employer's 528,834 72,220 1,956 291 3,717 22,056 1,658
Total Contributions 1,087,253 243,601 14,834 4,356 31,275 120,778 16,146
Repayments on loans 99,917 12,847 138 52 2,647 3,936 374
Deductions from net assets attributed to:
Distributions to participants 344,665 16,666 28 51 6,322 8,036 411
Loans to participants 120,704 32,498 801 122 5,802 7,065 1,601
Administrative expenses 2,336 305 - 43 154 8 43
Total Deductions 467,705 49,469 829 216 12,278 15,109 2,055
Net increase / (decrease) prior to
transfers 1,062,108 373,828 13,421 5,292 41,570 181,933 21,427
Inter-fund transfers (30,634) 3,527 (1,149) 1,402 (14,081) (17,112) 3,957
Assets transferred out of Plan (7,865) - - - - - -
Net increase / (decrease) 1,023,609 377,355 12,272 6,694 27,489 164,821 25,384
Net Assets Available for Benefits
December 31, 1997 3,778,544 492,470 10,189 3,413 92,615 105,820 43,015
Net Assets Available for Benefits
December 31, 1998 $4,802,153 $ 869,825 $ 22,461 $ 10,107 $ 120,104 $ 270,641 $ 58,399
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1998
<CAPTION>
Putnam
Fidelity Putnam New SoGen
Growth & Fund Fidelity Low- PBHG Opportun- Interna-
Income for Growth Fidelity Priced Stock Growth ities tional
Portfolio and Income Contrafund Fund Fund Fund Fund, Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Investment Income:
Net appreciation (depreciation) in fair
value of investments $ 50,149 $ 2,035 $ 12,301 $ (4,709) $ 1,401 $ 17,251 $ (702)
Interest - - - - - - -
Dividends 16,426 8,324 8,648 5,209 - 4,322 620
Total Investment Income 66,575 10,359 20,949 500 1,401 21,573 (82)
Contributions:
Participants' 79,168 26,929 49,882 20,252 30,747 65,331 3,103
Employer's 11,960 4,335 3,076 2,139 4,274 6,973 544
Total Contributions 91,128 31,264 52,958 22,391 35,021 67,304 3,647
Repayments on loans 3,282 1,081 1,699 893 1,012 174 97
Deductions from net assets attributed to:
Distributions to participants 17,344 700 1,105 125 2,051 2,417 5
Loans to participants 2,132 1,986 1,582 335 77 75 339
Administrative expenses - - 39 8 8 11 -
Total Deduction 19,476 2,686 2,726 468 2,136 2,503 344
Net increase / (decrease) prior to
transfers 141,509 40,018 72,880 23,316 35,298 86,548 3,318
Inter-fund transfers 33,460 15,811 23,210 (10,215) (9,746) 12,031 (4,103)
Assets transferred out of Plan - - - - - - -
Net increase / (decrease) 174,969 55,829 96,090 13,101 55,552 98,579 (785)
Net Assets Available for Benefits
December 31, 1997 166,622 43,507 22,980 56,551 54,493 45,721 7,965
Net Assets Available for Benefits
Deceber 31, 1998 $ 341,591 $ 99,336 $ 119,070 $ 69,652 $ 80,045 $ 144,300 $ 7,180
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
<TABLE>
UTC SAVINGS PLAN FOR HOURLY MANAGEMENT-REPRESENTED EMPLOYEES
Statement of Net Assets Available for Benefits With Fund Information (Continued)
December 31, 1998
<CAPTION>
Templeton
Templeton Developing
Foreign Markets
Fund A Trust A Loan Fund Total
<C> <C> <C> <C> <C>
Additions to net assets attributed to:
<S>
Investment Income:
Net appreciation (depreciation) in fair
value of investments $ (5,915) $ (3,987) $ - $ 331,114
Interest - - 19,798 362,441
Dividends 3,518 361 - 50,581
Total Investment Income (2,397) (3,626) 19,798 744,136
Contributions:
Participants' 10,368 4,224 - 1,172,515
Employer's 882 199 - 665,114
Total Contributions 11,250 4,423 - 1,837,629
Repayments on loans 253 326 (128,728) -
Deductions from net assets attributed to:
Distributions to participants - - 24,714 424,640
Loans to participants 399 235 (175,753) -
Administrative expenses - - - 2,955
Total Deductions 399 235 (151,039) 427,595
Net increase / (decrease) prior to
transfers 8,707 888 42,109 2,154,170
Inter-fund transfers (4,259) (2,099) - -
Assets transferred out of Plan - - - (7,865)
Net increase / (decrease) 4,448 (1,211) 42,109 2,146,305
Net Assets Available for Benefits
December 31, 1996 30,483 18,525 214,335 5,187,248
Net Assets Available for Benefits
December 31, 1997 $ 34,931 $ 17,314 $ 256,444 $ 7,333,553
The accompanying notes are an integral part of these financial statements.
</TABLE>
<PAGE>
Exhibit 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 (No. 333-18743) of United Technologies Corporation of our
report dated June 28, 1999 appearing in the UTC Savings Plan for Hourly,
Management-Represented Employees Annual Report on Form 11-K for the year ended
December 31, 1998.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Hartford, Connecticut
June 28, 1999
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