<PAGE 1>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT TO APPLICATION OR REPORT
Filed Pursuant to Section 12, 13 or 15(d) of
THE SECURITIES EXCHANGE ACT of 1934
Commission File Number 1-5236
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
-------------------------------------------
(Exact name of registrant as specified in its charter)
AMENDMENT NO. 2
The undersigned registrant hereby amends the following exhibits of its
1996 Annual Report on Form 10-K as set forth in the pages attached hereto:
Item 14. Exhibits, Financial Statement Schedule, and Reports on Form
8-K
Exhibits, including those Incorporated by Reference
---------------------------------------------------
Exhibit 28.3 - Annual Report on Form 11-K - Navistar International
Transportation Corp. 401(k) Retirement Savings Plan
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this amendment to be signed on its behalf by
the undersigned thereunto duly authorized.
Navistar International Transportation Corp.
-------------------------------------------
(Registrant)
/s/ J. Steven Keate
----------------------------------
J. Steven Keate
Vice President and Controller
(Principal Accounting Officer)
June 26, 1997
<PAGE>
<PAGE 2>
Item 14. Exhibits, Financial Statements, Schedule and Reports on Form 8-K
Exhibits, including those Incorporated by Reference
---------------------------------------------------
Exhibit 28.3 By this Form 10-K/A the Registrant files its Annual
Report on Form 11-K - Navistar International Transportation Corp.
401(k) Retirement Savings Plan. The full text of the report is
included in this Form 10-K/A.
<PAGE>
<PAGE 1>
Exhibit 28.3
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 1996
Navistar International Transportation Corp.
401(k) Retirement Savings Plan
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
-------------------------------------------
The principal executive offices of Navistar International
Transportation Corp. are located at 455 North Cityfront Plaza Drive,
Chicago, Illinois 60611.
REQUIRED INFORMATION
Navistar International Transportation Corp. 401(k) Retirement Savings
Plan ("Plan") is subject to the Employee Retirement Income Security Act of
1974 ("ERISA"). Therefore, in lieu of the requirements of Items 1-3 of
Form 11-K, the financial statements and schedules of the Plan as of
December 31, 1996 and 1995, and for each of the three years in the period
ended December 31, 1996, which have been prepared in accordance with the
financial reporting requirements of ERISA, are attached hereto as Appendix
1 and incorporated herein by this reference.
<PAGE>
<PAGE 2>
APPENDIX 1
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
TABLE OF CONTENTS Page
----------------- ----
INDEPENDENT AUDITORS' REPORT 3
INDEPENDENT AUDITORS' CONSENT 3
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1996 AND 1995
AND FOR EACH OF THE THREE YEARS IN THE PERIOD ENDED
DECEMBER 31, 1996:
Statements of Net Assets Available for Benefits 4
Statements of Changes in Net Assets
Available for Benefits 5
Notes to Financial Statements 6
SUPPLEMENTAL SCHEDULES AS OF DECEMBER 31, 1996 AND
FOR THE YEAR THEN ENDED:
Schedule of Assets Held for Investment Purposes -
Item 27(a) 12
Schedule of Reportable Transactions - Item 27(d) 13
Schedule of Party-in-Interest Transactions - Item 27(e) 14
- --------------------------------------------------------------------
<PAGE>
<PAGE 3>
INDEPENDENT AUDITORS' REPORT
Navistar International Transportation Corp:
We have audited the accompanying financial statements of the Navistar
International Transportation Corp. 401(k) Retirement Savings Plan (the
"Plan") as of December 31, 1996 and 1995, and for each of the three years
in the period ended December 31, 1996, listed in the table of contents.
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 generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan at December 31,
1996 and 1995, and the changes in net assets available for benefits for
each of the three years in the period ended December 31, 1996, in
conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the
basic financial statements taken as a whole. The accompanying supplemental
schedules listed in the table of contents are presented for purposes of
complying with the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security act
of 1974 and are not a required part of the basic financial statements.
These schedules are the responsibility of the Plan's management. Such
supplemental schedules have been subjected to the auditing procedures
applied in the audit of the basic 1996 financial statements and, in our
opinion, are fairly stated in all material respects when considered in
relation to the basic 1996 financial statements taken as a whole.
DELOITTE & TOUCHE LLP
May 23, 1997
Chicago, Illinois
INDEPENDENT AUDITORS' CONSENT
Navistar International Corporation.:
We consent to the incorporation by reference in the Registration
Statements, including post-effective amendments, No. 2-70979, No. 33-26847
and No. 333-25783 of Navistar International Transportation Corp. on
Form S-8 of our report dated May 23, 1997 appearing in the Annual Report on
Form 11-K of Navistar International Transportation Corp. 401(K) Retirement
Savings Plan for the year ended December 31, 1996.
DELOITTE & TOUCHE LLP
June 25, 1997
Chicago, Illinois
<PAGE>
<PAGE 4>
<TABLE>
<CAPTION>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1996 AND 1995
- -----------------------------------------------
1996 1995
---- ----
<S> <C> <C>
ASSETS
INVESTMENTS
Navistar Pooled Stock Fund
- at market value
(1996 - 316,459 units of participation,
cost $4,624,202 and 1995
- 338,172 units of participation,
cost $4,946,264) $ 813,615 $ 995,916
American Express Trust Collective
Income Fund II - at market value
(1996 - 2,738,743 shares,
cost $40,450,743 and 1995
- 2,824,955 shares,
cost $41,302,090) 44,923,143 43,695,006
American Express Trust
Equity Index Fund - at market value
(1996 - 1,393,755 shares,
cost $17,988,820 and 1995
- 1,246,204 shares,
cost $14,788,880) 28,580,333 20,824,074
IDS Selective Fund (Y) - at market value
(1996 - 682,710 shares,
cost $6,321,013 and 1995
- 591,001 shares,
cost $5,470,076) 6,215,389 5,676,567
IDS New Dimensions Fund (Y) - at market
value (1996 - 2,528,099 shares,
cost $38,101,865 and 1995
- 2,092,532 shares,
cost $28,939,655) 52,351,870 36,140,116
Templeton Foreign Fund - at market value
(1996 - 585,680 shares,
cost $5,582,480 and 1995
- 405,251 shares, cost $3,786,761) 6,067,643 3,720,207
Participant loans 3,780,417 3,072,598
------------ ------------
Total investments 142,732,410 114,124,484
------------ ------------
RECEIVABLES:
Participant pre-tax contributions 418,526 753,058
Participant after-tax contributions 15,468 13,774
Accrued dividend income - 1,607,784
------------- ------------
Total receivables 433,994 2,374,616
------------- ------------
NET ASSETS AVAILABLE
FOR BENEFITS $143,166,404 $116,499,100
============ ============
<FN>
See notes to financial statements.
</TABLE>
<PAGE>
<PAGE 5>
<TABLE>
<CAPTION>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- ---------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE
FOR BENEFITS FOR THE YEARS ENDED
DECEMBER 31, 1996, 1995 AND 1994
- ---------------------------------------------
1996 1995 1994
---- ---- ----
<S> <C> <C> <C>
ADDITIONS TO NET ASSETS:
Investment income:
Net realized/unrealized appreciation
(depreciation) in fair value of
investments $ 15,956,443 $ 15,862,135 $(3,515,684)
Interest and dividend income 3,002,265 2,359,561 4,212,413
------------ ------------ -----------
Total investment income 18,958,708 18,221,696 696,729
------------ ------------ -----------
Participant contributions:
Pre-tax contributions 14,347,613 12,170,578 10,921,909
After-tax contributions 259,617 213,401 178,286
------------ ------------ -----------
Total participant contributions 14,607,230 12,383,979 11,100,195
------------ ------------ -----------
Rollovers from other qualified plans 475,051 554,164 445,994
Transfers from other qualified plan 764,687 - -
Other (1,240) 9,664 -
------------ ------------ -----------
Total additions to net assets 34,804,436 31,169,503 12,242,918
------------ ------------ -----------
DEDUCTIONS FROM NET ASSETS:
Benefits paid to participants 8,137,132 4,853,595 3,000,569
Transfers to other qualified plans - - 3,100
------------ ------------ -----------
Total deductions from net assets 8,137,132 4,853,595 3,003,669
------------ ------------ -----------
Net increase 26,667,304 26,315,908 9,239,249
NET ASSETS AVAILABLE FOR BENEFITS:
BEGINNING OF YEAR 116,499,100 90,183,192 80,943,943
------------ ------------ -----------
END OF YEAR $143,166,404 $116,499,100 $90,183,192
============ ============ ===========
<FN>>
See notes to financial statements.
- ---------------------------------------------------------------------------------
</TABLE>
<PAGE>
<PAGE 6>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
NOTES TO FINANCIAL STATEMENTS FOR THE THREE YEARS
ENDED DECEMBER 31, 1996, 1995 AND 1994
- -------------------------------------------------
1. DESCRIPTION OF THE PLAN
The following description of the Navistar International Transportation
Corp. 401(k) Retirement Savings Plan (the "Plan") provides only
general information. Participants should refer to the Plan document
for a complete description of the Plan's provisions.
General - The Plan is sponsored by Navistar International
Transportation Corp. (the "Company") to provide savings and retirement
benefits for certain eligible salaried employees of the Company and of
certain of its affiliates that are participating under the Plan who
meet certain length of service requirements. The Plan was established
February 1, 1965, and has subsequently been restated and amended to
maintain qualification under Sections 401(a), 401(k) and 501 of the
Internal Revenue Code of 1986 and to modify the provisions of the
Plan. Administrative expenses relating to the Plan are paid by the
Company.
Effective January 1, 1995, IDS Trust was renamed American Express
Trust, and the IDS Trust Collective Income Fund II and the IDS Trust
Equity Index Fund have been renamed American Express Trust Collective
Income Fund II and American Express Trust Equity Index Fund,
respectively. The IDS Selective Fund (Y) and the IDS New Dimensions
Fund (Y) names remain unchanged. The Trustee, American Express Trust,
is authorized to hold and invest the assets of the Plan in accordance
with the provisions of the Trust Agreement between the Company and the
Trustee.
Contributions - Contributions may be made to the Plan on a pre-tax
basis, an after-tax basis, or a combination of both. Pre-tax salary
reduction contributions to the Plan are subject to annual maximum
limits equal to the lesser of 20 percent of a participant's annual
compensation or a prescribed dollar amount, indexed for inflation
($9,500, $9,240, and $9,240 for 1996, 1995, and 1994, respectively).
After-tax contributions are subject to annual maximum limits of 10
percent of annual compensation. Both pre-tax and after-tax
contributions may be elected at a minimum level of 1 percent of
eligible compensation at any time. Subject to Company approval,
certain eligible employees are allowed to make rollover contributions
transfers to the Plan, if such contributions satisfy applicable
regulations. Such employees are not required to be participants
for any other purpose than their rollover account; however, neither
after-tax contributions nor pre-tax salary reduction contributions
may be made until such time as such employee would otherwise become
eligible to and does elect participation in the Plan.
The Plan permits the Company to make matching and discretionary
contributions. Company matching and discretionary contributions are
subject to a vesting schedule based upon the participant's length of
employment, and fully vest upon completion of five years of service.
<PAGE>
<PAGE 7>
Non-vested Company matching contributions are forfeited when a
participant retires or terminates service. Such forfeitures are used
to offset future Company contributions. Salary reduction
contributions, employee after-tax contributions and rollover
contributions are fully vested immediately. The Company did not make
any matching or discretionary contributions to the Plan during any of
the three years in the period ended December 31, 1996.
Investment Options - Participants may direct the investment of their
account assets as follows:
- American Express Trust Collective Income Fund II is a diversified
pool of investment contracts varying in maturity date, size and
yield and short-term cash instruments;
- American Express Trust Equity Index Fund is a collective investment
fund which invests primarily in nearly all of the same stocks as
are in the Standard & Poor's 500 stock index;
- IDS Selective Fund (Y) is a mutual fund which invests primarily in
investment grade corporate bonds, government bonds, and other debt
securities;
- IDS New Dimensions Fund (Y) is a mutual fund which invests
primarily in ordinary common stock of United States companies;
- Templeton Foreign Fund is a specialty growth fund which invests
primarily in common stocks and other securities of companies and
governments outside the United States.
Company contributions, other than salary reduction contributions, made
prior to October 1, 1991, were invested in Navistar International
Corporation Common Stock until the employee attained age 55 and
elected a different investment option. Effective October 1, 1991,
existing account balances arising from such past Company contributions
may, at the direction of the participants, be transferred from the
Navistar Pooled Stock Fund to the other available investment options.
No future contributions or transfers to the Navistar Pooled Stock Fund
are permitted. (See Note 10.) The Navistar Pooled Stock Fund invests
primarily in the Common Stock of Navistar International Corporation
("Navistar"), the parent of the Company.
Participant Accounts - Contributions and assets allocated to a
specific investment fund are commingled with those of other partici
pants and are invested in accordance with the nature of the specific
fund. Realized gains and losses, unrealized appreciation and
depreciation, and dividends and interest are allocated to participants
based on their proportionate share of the funds. Fund managers' fees
are charged to participants' accounts as a reduction of the return
earned on each investment option.
Loans to Participants - Participants may borrow from their fund
accounts a minimum of $1,000 up to the lesser of 50% of their vested
account balance or $50,000. Loan transactions are treated as a
transfer between the investment fund and the loan fund. Loan terms
range from 1 to 5 years, with the exception of loans made for the
purchase of a principal residence, which must be repaid in
installments over a period of up to ten years. The loans are secured
by the balance in the participant's account and bear interest at a
rate commensurate with local prevailing rates as determined by the
Plan administrator.
<PAGE>
<PAGE 8>
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation - The accounts of the Plan are maintained on the
accrual basis of accounting. All investments are presented at published
market values. The loans to participants are valued at cost which
approximates market value. Security transactions are accounted for on
the trade date. Dividend income is accrued on the ex-dividend date.
Valuation of Investments - Unrealized appreciation or depreciation on
investments is determined by comparing the fair value of these separate
funds at the current year-end, net of contributions made during the
year, to their respective fair values at the preceding year-end.
Realized gains or losses are determined by comparing net sales proceeds
to the fair value of the investment at the preceding year-end.
Participant Withdrawals - As of December 31, 1996 and December 31,
1995, there were no benefits which were due to former participants who
have withdrawn from participation in the Plan. Benefits are recorded
when paid.
Reclassifications - Certain 1994 amounts have been reclassified to
conform with the presentation used in the 1996 and 1995 financial
statements.
3. TAX STATUS OF THE PLAN
The Internal Revenue Service has issued a favorable determination
letter, dated April 1996, that the Plan qualifies under Sections
401(a) and 401(k) of the Internal Revenue Code of 1986. The Company
believes that the Plan is currently designed and being operated in
compliance with the applicable requirements of the Code and thus the
Plan and related trust are exempt from federal income taxes under
Section 501(a) of the Code as of the financial statement date.
4. VOLUNTARY WITHDRAWAL
Participants may request either an in-service or hardship withdrawal of
certain of their account assets. An in-service withdrawal may be made
of a portion of the value of the assets purchased with the
participants' after-tax contributions and investment earnings thereon.
Participants may only withdraw authorized pre-tax salary reduction
contributions after attaining age 59-1/2, or on a hardship basis prior
to attaining age 59-1/2. Company matching and discretionary
contributions and investment earnings thereon are not eligible for
in-service withdrawal.
5. TERMINATION OF EMPLOYMENT
A participant's vested account is distributable at the time a
participant separates from service with the Company, suffers a total
and permanent disability or dies.
<PAGE>
<PAGE 9>
When the participant terminates employment, the vested portion of the
account will be distributed if the asset value is $3,500 or less. If
the asset value is more than $3,500, the participant has the option of
receiving the account upon separation or deferring receipt until no
later than April 1 following the year in which the participant becomes
age 70-1/2 if the participant terminated employment prior to April 1,
1992, or age 65 if the participant terminated employment on or after
April 1, 1992. Accounts are distributed in a single sum. If the
account includes 100 or more shares of Navistar Common Stock, the
distribution of that portion of the account will be made in the form of
full shares of Common Stock and a cash payment for any fractional
shares. For accounts with less than 100 shares of Navistar Common
Stock, the distribution will be made in cash.
6. AMENDMENT OR TERMINATION OF THE PLAN
Although the Company expects to continue the Plan indefinitely, the
Company, at its discretion, reserves the right to amend, modify,
suspend or terminate the Plan, provided that no such action shall
deprive any person of any rights to contributions made under the Plan.
If the Plan is terminated or contributions thereto have been completely
discontinued, the rights of all participants to the amounts credited to
their accounts shall be non-forfeitable and the interest of each
participant in the funds will be distributed to such participant or his
or her beneficiary in accordance with the Plan terms and the Code. If
the Plan is terminated, Plan participants will become fully vested in
any funds allocated to them.
7. INVESTMENTS EXCEEDING 5 PERCENT OF NET ASSETS
The Plan's investments which exceeded 5 percent of net assets available
for benefits as of December 31, 1996 and 1995 are as follows:
1996 1995
---- ----
American Express Trust
Collective Income Fund II $44,923,143 $43,695,006
American Express Trust
Equity Index Fund 28,580,333 20,824,074
IDS New Dimensions Fund (Y) 52,351,870 36,140,116
8. TRANSACTIONS IN EMPLOYER SECURITIES
The Common Stock of Navistar was purchased and distributed by the
Trustee in the Plan years ended December 31, at cost, as follows:
Net
Loss on
Plan Year Purchased Distributed Sold Disposal
--------- --------- ----------- ---- --------
1996 $ 12,954 $ 13,061 $323,235 $260,828
========= ========= ======== ========
1995 $ 26,311 $ 26,311 $551,334 $403,319
========= ========= ======== ========
1994 $ 26,406 $ 14,223 $230,974 $150,143
========= ========= ======== ========
<PAGE>
<PAGE 10>
9. BY FUND INFORMATION
Investment income, participant pre-tax and after-tax contributions, and
benefits paid to participants by separate investment fund are as
follows for each of the three years in the period ended December 31,
1996.
1996 1995 1994
----- ---- ----
Net realized/unrealized
appreciation (depreciation)
in fair value of
investments:
Navistar Pooled Stock Fund $ (121,065) $ (436,640) $ (880,448)
American Express
Trust Collective
Income Fund II 2,618,132 2,626,419 6,647
American Express
Trust Equity Index Fund 5,191,035 5,286,987 (188,264)
IDS Selective Fund (Y) (337,431) 551,665 (440,083)
IDS New Dimensions Fund (Y) 8,013,997 7,724,225 (1,826,662)
Templeton Foreign Fund 591,775 109,479 (186,874)
----------- ----------- -----------
Total $15,956,443 $15,862,135 $(3,515,684)
=========== =========== ===========
Interest and dividend income:
American Express Trust
Collective Income Fund II $ 74,368 $ 72,807 $ 2,282,730
American Express
Trust Equity Index Fund 51,963 33,329 379,072
IDS Selective Fund (Y) 506,743 337,512 294,839
IDS New Dimensions Fund (Y) 2,099,499 1,667,232 1,157,361
Templeton Foreign Fund 269,692 248,681 98,411
----------- ----------- -----------
Total $ 3,002,265 $ 2,359,561 $ 4,212,413
=========== =========== ===========
Participant pre-tax contributions:
American Express Trust
Collective Income Fund II $ 3,750,627 $ 3,925,317 $ 3,751,790
American Express
Trust Equity Index Fund 2,858,460 2,024,078 1,776,419
IDS Selective Fund (Y) 1,233,966 1,029,154 1,096,877
IDS New Dimensions Fund (Y) 5,388,991 4,179,136 4,104,810
Templeton Foreign Fund 1,115,569 1,012,893 192,013
----------- ----------- -----------
Total $14,347,613 $12,170,578 $10,921,909
=========== =========== ===========
Participant after-tax
contributions:
American Express Trust
Collective Income Fund II $ 58,089 $ 70,157 $ 45,932
American Express Trust
Equity Index Fund 64,654 33,920 30,895
IDS Selective Fund (Y) 10,038 10,556 17,102
IDS New Dimensions Fund (Y) 79,178 58,573 59,590
Templeton Foreign Fund 47,658 40,195 24,767
----------- ----------- -----------
Total $ 259,617 $ 213,401 $ 178,286
=========== =========== ===========
Benefits paid to participants:
Navistar Pooled Stock Fund $ 31,203 $ 52,599 $ 45,368
American Express Trust
Collective Income Fund II 4,191,441 3,057,367 1,696,562
American Express Trust
Equity Index Fund 1,129,939 552,080 472,505
IDS Selective Fund (Y) 371,048 135,940 117,681
IDS New Dimensions Fund (Y) 1,955,670 958,158 651,385
Templeton Foreign Fund 317,770 21,395 -
Participant loans 140,061 76,056 17,068
----------- ----------- -----------
Total $ 8,137,132 $ 4,853,595 $ 3,000,569
=========== =========== ===========
<PAGE>
<PAGE 11>
10. SUBSEQUENT EVENTS
On March 3, 1997, a total of $912,331, representing the complete
account balances of 43 participants, was transferred to the Core Materials
Corporation 401(k) Retirement Savings Plan. This transfer was in
accordance with the Asset Purchase Agreement between Navistar International
Transportation Corp. and RYMAC Mortgage Investment Corporation, the
predecessor by merger to Core Materials Corporation, dated September 12,
1996.
During March 1997, a total of $183,337, representing rollover account
balances of 11 individuals eligible to participate in the new Navistar
Retirement Accumulation Plan, was transferred into that plan. These
accounts had initially been rolled over into the Navistar International
Transportation Corp. Retirement Savings Plan as an accommodation to these
newly hired employees until the Navistar Retirement Accumulation Plan
became operational.
Effective May 1, 1997, the Navistar International Corporation Common
Stock Pooled Fund was re-opened as an investment option within this plan.
The Fund was previously closed to new contributions. The Fund consists
primarily of Navistar International Corporation Common Stock.
Based on closing market prices on May 23, 1997, the market values of
the Plan's investments held at December 31, 1996 have increased (decreased)
from the market values shown in the Statement of Net Assets Available For
Benefits in amounts as follows:
Navistar Pooled Stock Fund $ 498,740
American Express Trust Collective
Income Fund II 1,049,397
American Express Trust Equity Index Fund 4,264,897
IDS Selective Fund (Y) (91,480)
IDS New Dimensions Fund (Y) 5,192,719
Templeton Foreign Fund 521,257
-----------
Net increase in market value $11,435,530
===========
<PAGE>
<PAGE 12>
<TABLE>
<CAPTION>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES - ITEM 27(a), DECEMBER 31, 1996
- -------------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT,
INCLUDING MATURITY DATE,
IDENTITY OF ISSUE, BORROWER, RATE OF INTEREST, COLLATERAL, MARKET
(1) LESSOR OR SIMILAR PARTY PAR OR MATURITY VALUE COST VALUE
- -------------------------------- ------------------------------ ----------- ------------
<S> <S> <C> <C>
* Navistar Pooled Stock Fund 316,459 units of participation $ 4,624,202 $ 813,615
American Express Trust 2,738,743 shares of beneficial
Collective Income Fund II interest, collective
investment fund 40,450,743 44,923,143
American Express Trust 1,393,755 shares of beneficial
Equity Index Fund interest, collective
investment fund 17,988,820 28,580,333
IDS Selective Fund (Y) 682,710 shares of beneficial
interest, mutual fund 6,321,013 6,215,389
IDS New Dimensions Fund (Y) 2,528,099 shares of beneficial
interest, mutual fund 38,101,865 52,351,870
Templeton Foreign Fund 585,680 shares of beneficial
interest, specialty
growth mutual fund 5,582,480 6,067,643
Participant Loans Interest rates ranging
from 6.01% - 10.30%,
(maturing 1997 through 2006) 3,780,417 3,780,417
------------ ------------
TOTAL INVESTMENTS $116,849,540 $142,732,410
============ ============
<FN>
(1) An asterisk indicates a party-in-interest.
</TABLE>
- -------------------------------------------------------------------------
<PAGE>
<PAGE 13>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
SCHEDULE OF REPORTABLE TRANSACTIONS - ITEM 27(d)
YEAR ENDED DECEMBER 31, 1996
- ------------------------------------------------
<TABLE>
<CAPTION>
SERIES OF TRANSACTIONS
Net
Number Number Gain
Description of of or
Identity of Issue of Asset Purchases Sales Purchases Sales (loss)
- ----------------- ----------- --------- ------ ----------- ---------- --------
<S> <S> <C> <C> <C> <C> <C>
IDS New Dimension Fund Mutual Fund 122 $11,950,952
IDS New Dimension Fund Mutual Fund 101 $3,753,200 $964,453
American Express Trust Collective 66 5,700,501
Collective Income Investment
Fund II Fund
American Express Trust Collective 131 7,088,626 536,773
Collective Income Investment
Fund II Fund
American Express Trust Collective 108 4,506,500
Equity Index Fund Investment
Fund
American Express Trust Collective 83 1,941,276 634,717
Equity Index Fund Investment
Fund
</TABLE>
<PAGE>
<PAGE 14>
NAVISTAR INTERNATIONAL TRANSPORTATION CORP.
401(k) RETIREMENT SAVINGS PLAN
- -------------------------------------------
SCHEDULE OF PARTY-IN-INTEREST TRANSACTIONS - ITEM 27(e)
YEAR ENDED DECEMBER 31, 1996
- -------------------------------------------------------------------------
<TABLE>
<CAPTION>
MAREKT
COST VALUE
OF ASSETS OF ASSETS NET GAIN
DESCRIPTION PURCHASED AT DATE OF (LOSS)
IDENTITY OF OF OR DISPOSAL OR ON EACH
PARTY INVOLVED RELATIONSHIP TRANSACTION DISPOSED DISTRIBUTION TRANSACTION
- -------------- ------------ ----------- --------- ------------ -----------
<S> <S> <S> <C> <C> <C>
Navistar Parent Navistar
International Corporation International
Corporation of Plan Corporation
common stock
purchases
and
distributions $ 12,954 $ 13,061 $ 107
Navistar Parent Navistar
International Corporation International
Corporation of Plan Corporation
sponsor common stock $323,235 $ 62,300 $(260,935)
- ----------------------------------------------------------------------------------------
</TABLE>
