SECURITIES AND EXCHANGE COMMISSION
Washington , D.C. 20549
------------------------------
FORM 11-K
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE
----- SECURITIES EXCHANGE ACT OF 1934
For the year ended December 31, 1999
OR
----- TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to _____________.
Commission file number 1-9759
A. Full title of the plan and the address of the plan,
if different from that of the issuer named below:
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES OF
IMC-AGRICO MP, INC. REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
B. Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office:
IMC GLOBAL INC.
2100 SANDERS ROAD, NORTHBROOK, ILLINOIS 60062
---------------------------------------------
<PAGE>
Employer Identification #36-3888539
Plan #103
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35 INTERNATIONAL
CHEMICAL WORKERS UNION AT FLORIDA
MINERALS OPERATIONS OF
IMC-AGRICO MP, INC.
FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULES
(Together with Auditors' Report)
DECEMBER 31, 1999 AND 1998
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
TABLE OF CONTENTS
-----------------
Page
-----
Independent Auditors' Report 1
Financial Statements:
Statements of Net Assets Available for Benefits
as of December 31, 1999 and 1998 4
Statements of Changes in Net Assets Available
for Benefits for the years ended December 31, 1999
and 1998 5
Notes to Financial Statements 6
Supplemental Schedules:
Schedule of Assets Held for Investment Purposes
as of December 31, 1999 15
Schedule of Loans or Fixed Income Obligations
for the year ended December 31, 1999 16
Schedule of Reportable Transactions
for the year ended December 31, 1999 17
<PAGE>
Independent Auditors' Report
Plan Administrator
Salary Reduction Plan for Hourly Employees
Represented by Local #35 International Chemical Workers Union
At Florida Minerals Operations of IMC-Agrico MP, Inc.
We have audited the accompanying statement of net assets
available for benefits of the Salary Reduction Plan for Hourly
Employees Represented by Local #35 International Chemical Workers
Union at Florida Minerals Operations of IMC-Agrico MP, Inc. as of
December 31, 1999, and the related statement of changes in net
assets available for benefits for the year then ended. These
financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these
financial statements based on our audit. The financial statements
of the Plan as of December 31, 1998, were audited by other
auditors whose report dated May 7, 1999, expressed an unqualified
opinion on those statements.
We conducted our audit 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
audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 1999, and
the changes in net assets available for benefits for the year
then ended in conformity with generally accepted accounting
principles.
Our audit was performed for the purpose of forming an opinion on
the basic financial statements taken as a whole. The supplemental
schedules of assets held for investment purposes as of December
31, 1999; and loans or fixed income obligations and reportable
transactions for the year ended December 31, 1999, respectively,
are presented for the purpose of additional analysis and are not
a required part of the basic financial statements but are
supplementary information required by the Department of Labor's
Rules and
-1-
<PAGE>
Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. These supplemental
schedules are the responsibility of the Plan's management. The
supplemental schedules have been subjected to the auditing
procedures applied in the audit of the basic financial statements
and, in our opinion, are fairly stated in all material respects
in relation to the basic financial statements taken as a whole.
/s/ Hill, Taylor LLC
May 26 ,2000
-2-
<PAGE>
Report of Independent Auditors
Plan Administrator
Salary Reduction Plan for Hourly Employees of
IMC-Agrico MP, Inc. Represented by
Local #35 International Chemical Workers Union
We have audited the accompanying statement of assets available
for benefits of the Salary Reduction Plan for Hourly Employees of
IMC-Agrico MP, Inc. Represented by Local #35 International
Chemical Workers Union as of December 31, 1998 and the related
statement of changes in assets available for benefits for the
year then ended. These financial statements are the
responsibility of the Plan's management. Our responsibility is
to express an opinion on these financial statements based on our
audit.
We conducted our audit in accordance with auditing standards
generally accepted in the United States. Those standards require
that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material
misstatement. 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 audit provides a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the assets available
for benefits of the Plan at December 31, 1998 and the changes in
its assets available for benefits for the year then ended, in
conformity with accounting principles generally accepted in the
United States.
/s/ Ernst & Young LLP
Chicago, Illinois Ernst & Young LLP
May 7, 1999
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<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
-----------------------------------------------
DECEMBER 31, 1999 AND 1998
--------------------------
1999 1998
----------- -----------
ASSETS
Cash $ 150 $ -
Investments, at fair value:
Master trust funds:
Interest in IMC-Agrico Stock Fund 319,240 179,584
Interest in IMC-Agrico Fixed Income
Fund 3,278,059 2,885,137
Mutual funds:
Vanguard Wellington Fund, Inc. 2,079,098 2,103,949
Fidelity Equity-Income Fund, Inc. 1,419,913 1,209,195
Fidelity Magellan Fund, Inc. 619,175 337,870
Loans to participants 563,398 378,673
----------- -----------
Total investments 8,279,033 7,094,408
----------- -----------
Receivables:
Participant contributions 18,293 19,552
Company contributions 1,247 2,591
----------- -----------
Total receivables 19,540 22,143
----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $ 8,298,573 $ 7,116,551
=========== ===========
The accompanying notes are an integral part of these financial statements.
-4-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS
---------------------------------
YEARS ENDED DECEMBER 31, 1999 AND 1998
--------------------------------------
1999 1998
----------- ------------
ADDITIONS
Investment income:
Interest and dividends $ 141,314 $ 117,274
Net realized and unrealized appreciation
in fair value of investments 173,767 261,605
Income from master trust funds 117,028 167,135
----------- -----------
Total investment income 432,109 546,014
----------- -----------
Contributions:
Participants 1,173,664 1,268,357
Company 65,262 43,239
----------- -----------
Total contributions 1,238,926 1,311,596
----------- -----------
Total additions 1,671,035 1,857,610
----------- -----------
DEDUCTIONS
Distributions 479,425 399,920
Transfers to other plans 9,588 49,288
----------- -----------
Total deductions 489,013 449,208
----------- -----------
NET INCREASE 1,182,022 1,408,402
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 7,116,551 5,708,149
----------- -----------
End of year $ 8,298,573 $ 7,116,551
=========== ===========
The accompanying notes are an integral part of these financial statements.
-5-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
1. Description of the Plan
The following description of the Salary Reduction Plan for
Hourly Employees Represented by Local #35 International
Chemical Workers Union at Florida Minerals Operations of IMC-
Agrico MP, Inc. (the Plan) provides only general information.
Participants should refer to the Plan document for a more
complete description of the Plan's provisions.
General
The Plan was established on January 1, 1988, and was amended
and restated on January 1, 1998. Hourly employees of Florida
Minerals Operations of IMC-Agrico MP, Inc. (the Company) who
are represented by Local #35 International Chemical Workers
Union are eligible to participate in the Plan immediately upon
their date of hire. While the Company has not expressed any
intent to terminate the Plan, it is free to do so at any time.
The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).
Contributions
The Plan is funded by contributions, known as salary reduction
contributions, from participants in the form of payroll
deductions of $5 to $150 per week. The Plan provides a
qualified cash and deferred arrangement within the meaning of
section 401(k) of the Internal Revenue Code (IRC); such
contributions were subject to the calendar year maximum of
$10,000 in 1999 and 1998. Beginning January 1, 1998, the
Company contributes an amount equal to $.25 per $1.00
contributed weekly by participant up to the first $10.00
contributed weekly by participant.
Participant Accounts
Separate accounts are maintained for each participant. Each
participant's account balance is adjusted for contributions,
withdrawals, interest, dividends, and net realized and
unrealized gains or losses on the last day of each month.
Administrative Expenses
Certain administrative expenses of the Plan are borne by the
Company.
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<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
1. Description of the Plan (Continued)
Investment Programs
The Plan's investments are administered by Marshall & Ilsley
Trust Company under a trust agreement dated January 1, 1996.
Investment programs available to participants are as follows:
Company Stock Fund - Assets are invested in shares of the
IMC-Agrico Stock Fund, a pooled fund shared only by other IMC-
Agrico MP, Inc. 401(k) plans, which invests in the common stock
of IMC Global Inc.
Fixed Income Fund - Assets are invested in shares of IMC-
Agrico Fixed Income Fund, a pooled fund shared only by other IMC-
Agrico MP, Inc. 401(k) plans as well as guaranteed investment
contracts (GICs), the Marshall Money Market Fund, the LaSalle
National Trust, N.A. Income Plus Fund and the M&I Stable
Principal Fund. The December 31, 1999 holdings are described
below:
a. GIC with CDC Investment Management Corp. with a
guaranteed interest rate of 7.5% through June 30, 2000.
b. GIC with Rabobank Alternative with a guaranteed interest
rate of 6.65% through March 15, 2001.
c. GIC with Sunamerica Life Company with a guaranteed interest
rate of 7.04% through May 29, 2002.
d. GIC with Government Plus Synthetic with an open maturity
and interest rate resets at January 1, 2000, April 1,
2000, July 1, 2000, and October 1, 2000.
e. GIC with Ohio National with a guaranteed interest rate of
6.25% through July 16, 2003.
f. GIC with Sunamerica Life Synthetic with a guaranteed
interest rate of 6.05% through July 27, 2003.
g. GIC with Connecticut General Life with a guaranteed interest
rate 5.35% through October 30, 2003.
-7-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
1. Description of the Plan (Continued)
h. GIC with John Hancock with a guaranteed interest rate of
6.11% through March 31, 2004.
i. GIC with Protective Life with a guaranteed interest rate of
6.25%, 1/2 due December 31, 2002, and remainder due June 30, 2004.
j. Marshall Money Market Fund.
k. The M&1 Stable Principal Fund is primarily invested in
traditional and synthetic investment contracts, money market
securities, and registered first-tier money market mutual funds.
Balanced Fund - Assets are invested in shares of the
Vanguard Wellington Fund, Inc., a mutual fund which invests in a
diversified portfolio of 60%-70% common stocks and 30%-40% bonds.
Equity Fund - Assets are invested in shares of the Fidelity
Equity-Income Fund, Inc., a mutual fund which invests at least
65% of its assets in income-producing equity securities. The
balance of the portfolio is invested in all types of domestic and
foreign instruments, including bonds.
Growth Fund - Assets are invested in shares of the Fidelity
Magellan Fund, Inc., a mutual fund which invests in common stock
and securities of domestic, foreign, and multinational issuers.
Loan Fund - Loans made to participants as described below.
Participants elect their desired investment program upon
joining the Plan. Participants may elect to change the
investment direction of their existing account balances and
their future contributions daily.
Vesting
Participants are immediately vested in their accounts.
-8-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
1. Description of the Plan (Continued)
Withdrawals
Participants may withdraw their interest in the Plan upon
termination of employment. Under certain conditions of
financial hardship, participants may withdraw funds, subject
to prior approval of the Employee Benefits Committee, but
their participation in the Plan will be suspended for at least
one year. Full withdrawals are available after age 59 1/2 or in
the event of total and permanent disability. Subject to
limitations specified in the Plan, certain withdrawals of
funds transferred from other qualified benefits plans can be
made by participants without penalty.
Deferred Distributions
Participants who terminate their employment and have an
account balance in excess of $5,000 may elect (at any time
prior to age 65) to defer receipt of distribution until no
later than their 70th birthday.
Loans to Participants
Participants in the Plan may be granted loans subject to
certain terms and maximum dollar or Plan account balance
limits, as defined by the Plan. The amount of any such loan is
borrowed from the account of the participant to whom the loan
was made, and such account does not share in the allocation of
income, gains, and losses of the investment funds to the
extent of the outstanding balance of such loan. Principal
repayments, which are over one to five years for general
purpose loans and over one to fifteen years for residential
loans, and related interest income are credited to the
borrowing participant's account. Loan payments are made by
weekly payroll deductions. Each loan bears interest at the
prevailing rate for loans of similar risk, date of maturity,
and date of grant.
2. Summary of Significant Accounting Policies
Investment Valuation
All investments with the exception of guaranteed investment
contracts are carried at fair value. Fair value for shares of
master trust funds, mutual funds, the LaSalle National
-9-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
2. Summary of Significant Accounting Policies (Continued)
Trust, N.A. Income Plus Fund, and the M&I Stable Principal
Fund is the net asset value of those shares, as determined by
the respective funds. Loans to participants are valued at cost
which approximates fair value. Guaranteed investment contracts
are carried at contract value.
Income Recognition
Purchases and sales of securities are accounted for on the
trade date (date the order to buy or sell is executed).
Dividend income is recorded on the ex-dividend date. Interest
from investments is recorded as earned on an accrual basis.
Contributions
Participant contributions are recorded each pay period as
withheld by the Company. Contributions by the Company are made
monthly based on the minimum contribution required by the
Plan.
Participant Withdrawals
Withdrawals are recorded when payments are made to
participants. Withdrawals requested but not paid are presented
in Department of Labor Form 5500 (Annual Return/Report of
Employee Benefit Plan) as liabilities. There were no unpaid
withdrawals at December 31, 1999 and 1998.
Use of Estimates
The preparation of financial statements in conformity with
generally accepted accounting principles requires the Plan
administrator to make estimates and assumptions that affect
the amounts reported in the financial statements and
accompanying notes. Actual results could differ from those
estimates.
New Accounting Pronouncement
Certain amounts in the Plan's 1998 financial statements have
been reclassified to conform to the 1999 financial statement
presentation as a result of adopting SOP 99-3, Accounting for
and Reporting of Certain Defined Contribution Plan Investments
and other Disclosures Matters, in 1999.
-10-
<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
3. Investment in Master Trust
Assets of the Company Stock Fund and the Fixed Income Fund are
invested in shares of IMC-Agrico MP, Inc. pooled funds shared
by other IMC-Agrico MP, Inc. 401(k) plans. The Plan held a
3.6% and 10.4% interest, respectively, in the IMC-Agrico Stock
Fund and the IMC-Agrico Fixed Income Fund at December 31, 1999
(2.1% and 10.1%, respectively, at December 31, 1998).
The equitable shares in the pooled funds of a participating
plan are proportionate to the fair market value of the assets
allocable to such participating plan.
The assets of the pooled funds as of December 31, 1999, were as
follows:
IMC-Agrico
IMC-Agrico Fixed
Stock Fund Income Fund
---------- ------------
IMC Global Inc. common stock $ 8,625,974 $ -
M&I Stable Principal Fund - 14,348,030
Guaranteed Investment Contracts:
CDC Investment Management Corp. - 1,500,000
Rabobank Alternative - 829,073
Sunamerica Life Company - 3,579,144
Government Plus Synthetic - 2,740,361
Ohio National - 1,638,848
Sunamerica Life Synthetic - 1,310,878
Connecticut General Life - 1,600,177
John Hancock - 1,568,544
Protective Life - 2,078,918
Marshall Money Market Fund 262,964 612,159
Accrued interest and dividends 2,074 54,885
----------- ------------
Net Assets $ 8,891,012 $ 31,861,017
=========== ============
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<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
3. Investment in Master Trust (Continued)
The assets of the pooled funds as of December 31, 1998, were
as follows:
IMC-Agrico
IMC-Agrico Fixed
Stock Fund Income Fund
IMC Global Inc. common stock $ 8,405,762 $ -
M&I Stable Principal Fund - 13,729,913
Guaranteed Investment Contracts:
CDC Investment Management Corp. - 1,500,000
Rabobank Alternative - 938,039
Sunamerica Life Company - 3,343,745
Government Plus Synthetic - 2,586,737
Ohio National - 1,542,445
Sunamerica Life Synthetic - 1,500,757
Connecticut General Life - 1,519,315
General American Synthetic - 1,517,803
Marshall Money Market Fund 104,275 145,405
Pending transactions 89,751 -
Accrued interest and dividends 1,699 72,410
----------- ------------
Net Assets $ 8,601,487 $ 28,396,569
=========== ============
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<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
------------------------------
(Continued)
3. Investment in Master Trust (Continued)
Changes in the pooled balances for the year ended December 31, 1999, were
summarized as follows:
IMC-Agrico
IMC-Agrico Fixed
Stock Fund Income Fund
------------- --------------
Additions
Interest and dividend income $ 177,356 $ 1,680,709
Net realized and unrealized depreciation
in fair value of investments (1,855,870) -
Contributions and transfers from other plans 37,074,481 45,454,721
------------ -------------
35,395,967 47,135,430
------------ -------------
Deductions
Benefits paid 35,106,442 43,670,982
------------ -------------
Net increase in assets 289,525 3,464,448
Net assets, beginning of year 8,601,487 28,396,569
------------ -------------
Net assets, end of year $ 8,891,012 $ 31,861,017
=========== =============
Changes in the pooled balances for the year ended December 31, 1998, were
summarized as follows:
IMC-Agrico
IMC-Agrico Fixed
Stock Fund Income Fund
------------ -------------
Additions
Interest and dividend income $ 97,003 $ 1,680,792
Net realized and unrealized depreciation
in fair value of investments (2,297,412) -
Contributions and transfers from other plans 19,496,739 24,287,771
------------ -------------
17,296,330 25,968,563
------------ -------------
Deductions
Benefits paid 14,679,071 22,707,640
Investment expenses 66,363 31,850
------------ -------------
14,745,434 22,739,490
------------ -------------
Net increase in assets 2,550,896 3,229,073
Net assets, beginning of year 6,050,591 25,167,496
------------ -------------
Net assets, end of year $ 8,601,487 $ 28,396,569
============ ============
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<PAGE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION
AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(Continued)
4. Significant Investments
Investments (all are participant-directed) that represent 5%
or more of assets available for benefits at December 31, 1999
and 1998, were as follows:
December 31
1999 1998
----------- -----------
Vanguard Wellington Fund, Inc. $ 2,079,098 $ 2,103,949
Fidelity Equity-Income Fund, Inc. 1,419,913 1,209,195
Fidelity Magellan Fund, Inc. 619,175 337,870
Loans to participants 563,398 378,673
5. Federal Income Tax Status
The Internal Revenue Service ruled on September 7, 1995, that
the Plan qualified under section 401(a) of the IRC and,
therefore, the related trust is not subject to tax under
present income tax law. The Plan has been amended since
receiving the determination letter. However, the Plan
administrator and the Plan's counsel believe that the Plan is
designed and is currently being operated in compliance with
the applicable requirements of the IRC.
-14-
<PAGE>
Supplemental Schedules
<PAGE>
<TABLE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35
INTERNATIONAL CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
------------------------------------------------------------------------------------------
SCHEDULE H, PART IV, ITEM 4(i)
------------------------------
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
-----------------------------------------------
AS OF DECEMBER 31, 1999
-----------------------
Employer Identification Number: 36-3888539
Plan Number: 103
<CAPTION>
Number of Current
Identity of Issuer Description Shares Cost Value
------------------------------------- -------------------------------- -------- ---------- ----------
<S> <S> <C> <C> <C>
Marshall and Ilsley Trust Company* Vanguard Wellington Fund, Inc. 74,360 $2,098,488 $2,079,098
Fidelity Equity-Income Fund, Inc. 26,550 1,428,382 1,419,913
Fidelity Magellan Fund, Inc. 4,532 551,836 619,175
Loans to participants (7.00% - 10.75%) - 563,398 563,398
---------- ----------
$4,642,104 $4,681,584
========== ==========
*Indicates party-in-interest to the Plan.
</TABLE>
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<PAGE>
<TABLE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL
CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------------------------------
SCHEDULE G, PART I
-------------------
SCHEDULE OF LOANS OR FIXED INCOME OBLIGATIONS
---------------------------------------------
YEAR ENDED DECEMBER 31, 1999
----------------------------
Employer Identification Number: 36-3888539
Plan number: 103
Principal and
Original Interest Paid
Social Security Loan During the Loan Maturity Default Interest Collateral
Number Amount Year Issue Date Date Date Rate Type Value
------------------- ------- ------------ ----------- -------- -------- ------- ------------------ -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
###-##-#### $ 1,000 $ 144 1/14/99 1/8/04 9/28/99 7.75% Participant account $ 3,771
###-##-#### 11,400 1,674 1/29/99 1/16/03 9/28/99 7.75% Participant account 20,291
###-##-#### 3,000 - 6/18/98 6/12/03 8/27/99 8.50% Participant account 20,351
###-##-#### 6,000 - 2/24/99 2/12/04 8/27/99 7.75% Participant account 13,169
###-##-#### 900 241 7/3/97 7/1/99 2/19/99 8.50% Participant account 10,352
###-##-#### 2,000 284 8/6/98 7/31/03 9/28/99 8.50% Participant account 10,076
###-##-#### 1,600 1,104 7/24/97 7/19/01 4/22/99 8.50% Participant account -
###-##-#### 2,900 91 9/3/98 8/31/00 8/27/99 8.50% Participant account 5,325
</TABLE>
-16-
<PAGE>
<TABLE>
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES REPRESENTED BY LOCAL #35 INTERNATIONAL
CHEMICAL WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF IMC-AGRICO MP, INC.
-----------------------------------------------------------------------------
SCHEDULE H, PART IV, ITEM 4(j)
------------------------------
SCHEDULE OF REPORTABLE TRANSACTIONS
-----------------------------------
YEAR ENDED DECEMBER 31, 1999
-----------------------------
Employer Identification Number: 36-3888539
Plan Number: 103
<CAPTION>
Current
Value of
Asset on
Purchase Selling Cost Transaction Net
Identity of Party Involved Description of Assets Price Price of Asset Date Gain
------------------------------------ ---------------------------- --------- ------- -------- ----------- -----
Series of securities transactions in excess of 5% of plan assets
-----------------------------------------------------------------
<S> <S> <C> <C> <C> <C> <C>
Marshall and Ilsley Trust Company* Vanguard Wellington Fund, Inc. $698,614 $ - $698,614 $698,614 $ -
- 614,866 583,259 614,866 31,607
Fidelity Equity-Income Fund, Inc. 966,412 - 966,412 966,412 -
- 694,760 641,161 694,760 53,599
Fidelity Magellan Fund, Inc. 512,995 - 512,995 512,995 -
- 287,952 265,979 287,952 21,973
*Indicates party-in-interest to the Plan.
</TABLE>
-17-
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, I the Undersigned Chairman of the Employee Benefits
Committee, have duly caused this annual report to be signed on
its behalf by the undersigned hereunto duly authorized.
SALARY REDUCTION PLAN FOR HOURLY EMPLOYEES
REPRESENTED BY LOCAL #35 INTERNATIONAL CHEMICAL
WORKERS UNION AT FLORIDA MINERALS OPERATIONS OF
IMC-AGRICO MP, INC.
/s/ J. Bradford James
--------------------------------------------
J. Bradford James
Chairman of the Employee Benefits Committee
Date: June 28, 2000
Pursuant to the requirements of the Securities Exchange Act
of 1934, this annual report has been signed below by the
following persons in their capacities as members of the Employee
Benefits Committee and on the dates indicated.
Signature Title Date
/s/ J. Bradford James Senior Vice President June 28, 2000
--------------------- and Chief Financial
J. Bradford James Officer
/s/ Stephen P. Malia Senior Vice President June 28, 2000
--------------------- Human Resources
Stephen P. Malia
/s/ E. Paul Dunn, Jr. Vice President and June 28, 2000
--------------------- Treasurer
E. Paul Dunn, Jr.
/s/ Mary Ann Hynes Senior Vice President June 28, 2000
--------------------- and General Counsel
Mary Ann Hynes
