<PAGE>
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 [FEE REQUIRED]
For the fiscal year ended December 31, 1994
or
[ ] 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 0-7469
A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
B. Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
TJ INTERNATIONAL, INC.
200 E. Mallard Drive
P. O. Box 65
Boise, Idaho 83707
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
TJ International, Inc.
Pension & Profit Sharing Plan
-------------------------------------
(Name of Plan)
Date: May 18, 1995 /s/ Valerie A. Heusinkveld
-------------------------------------
(Signature)
Valerie A. Heusinkveld
Committee Member
Pension & Profit Sharing Plan
Administrative Committee
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Administrative Committee of the
TJ International, Inc. Pension & Profit Sharing Plan:
We have audited the accompanying statements of net assets available for plan
benefits of the TJ International, Inc. Pension & Profit Sharing Plan (the Plan)
as of December 31, 1994 and 1993 and the related statements of changes in net
assets available for plan benefits for the years then ended. These financial
statements and the schedules referred to below are the responsibility of TJ
International, Inc.'s management. Our responsibility is to express an opinion
on these financial statements and schedules 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, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the Plan as
of December 31, 1994 and 1993 and the changes in its net assets available for
plan benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules 3 and 4 are
presented for purposes of additional analysis and are not a required part of the
basic financial statements but are supplementary information required by the
Department of Labor Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The supplemental schedules
have been subjected to the auditing procedures applied in the audits 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.
ARTHUR ANDERSEN LLP
Boise, Idaho
April 14, 1995
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
<TABLE>
<CAPTION>
December 31,
--------------------------
ASSETS 1994 1993
----------- -----------
<S> <C> <C>
Investments, at current value $75,344,242 $76,658,492
Cash and cash equivalents 2,918,742 2,391,066
Receivables:
Employer contributions 1,209,012 1,071,258
Employee contributions 429,173 413,977
Interest and dividends 48,690 33,309
----------- -----------
79,949,859 80,568,102
----------- -----------
LIABILITIES
Accrued management fees 106,919 107,174
Other accounts payable 2,187,998 1,799,981
----------- -----------
2,294,917 1,907,155
----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $77,654,942 $78,660,947
----------- -----------
----------- -----------
</TABLE>
The accompanying notes and Supplemental Schedules 1 and 2
are an integral part of these financial statements.
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
<TABLE>
<CAPTION>
For the Years Ended
December 31,
---------------------------
1994 1993
----------- -----------
<S> <C> <C>
Investment income:
Interest income $ 1,207,021 $ 1,191,281
Dividend income 162,307 108,645
Management fees and other (449,224) (420,128)
----------- -----------
920,104 879,798
----------- -----------
Gain on disposition of investments, net 1,297,420 1,224,122
Unrealized appreciation (depreciation) of
investments, net (9,822,435) 13,515,374
Contributions:
Employee 6,039,003 4,831,067
Employer 3,454,531 2,416,204
----------- -----------
9,493,534 7,247,271
----------- -----------
Total additions 1,888,623 22,866,565
Plan benefit claims distributed during the year (3,266,688) (1,969,747)
Plan transfers and merger 372,060 65,432
----------- -----------
Net increase (decrease) during the year (1,006,005) 20,962,250
Net assets available for plan benefits, beginning of
year 78,660,947 57,698,697
----------- -----------
Net assets available for plan benefits, end of year $77,654,942 $78,660,947
----------- -----------
----------- -----------
</TABLE>
The accompanying notes and Supplemental Schedules 1 and 2
are an integral part of these financial statements.
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
1. PLAN DESCRIPTION:
The TJ International, Inc. Pension & Profit Sharing Plan (the Plan) is a defined
contribution plan sponsored by TJ International, Inc. (the Company). The Plan
is administered by an Administrative Committee (the Committee) appointed by the
Company's Board of Directors. Substantially all eligible employees are
participants in the Plan.
The following accounts are maintained by fund for each participant:
- - An elective contribution account consisting of participant contributions in
selected amounts between 2% to 15% of their compensation, limited to a
maximum contribution as set by the Internal Revenue Service.
- - A company matching account to which the Company makes a matching
contribution equal to 100% of the first 2% and 50% of the next 2%
contributed to the elective contribution account.
- - A profit sharing account consisting of an annual Company contribution which
is determined by a formula based on the Company's annual net income with
certain discretionary powers exercisable by the Company's Board of
Directors. This contribution, as well as any forfeitures, is allocated
using a formula based on participants' annual earnings and years of Plan
participation.
- - An employee pre-1973 after tax contribution account consisting of
participants' contributions made to the Plan prior to 1973.
Contributions are credited to the participants' accounts as payrolls are
processed throughout the year or annually, as appropriate. The Company profit
sharing and company matching accounts are subject to vesting provisions of the
Plan as described in Note 5. Participants are always fully vested in their
elective contribution and pre-1973 after tax contribution account balances.
Effective January 1, 1995, the Company's Board of Directors amended the Plan to
allow participants to borrow against their individual account balance and
increased the Company's matching contributions to the Plan. For the Plan year
beginning after January 1, 1995, the Company will make a matching contribution
equal to 100% of the first 2% and 50% of the next 4% contributed to the elective
contribution account. The Company's maximum matching contribution will be 4% of
an employee's compensation.
The assets of the Plan are held in trust (the Trust) by West One Bank (the
Trustee), Columbia Trust Company and U.S. Trust Company (custodians).
Earnings or losses on the investments held by the Trust are allocated to the
participants' accounts based on the beginning-of-quarter balances.
The Plan's investment managers have discretionary authority to apportion funds
deposited under their contracts among various investments in the manner they
believe to be consistent with the Committee's Plan investment objectives.
Additionally, certain investment criteria to be followed by the Trustee and
custodians regarding the temporary investment of assets has been established by
the Committee. Each investment manager's performance is periodically reviewed
and evaluated by the Committee.
<PAGE>
Substantially all expenses of administration of the Plan, except for custodial
fees, brokerage fees, management fees, taxes on security transactions and fifty
percent of the employee record keeping fees, are paid by the Company.
The Plan obtained its latest determination letter on July 3, 1986, in which the
Internal Revenue Service (IRS) stated that the Plan, as then designated, was in
compliance with the applicable requirements of the Internal Revenue Code. In
1994, the Plan was amended in order to, among other things, comply with certain
requirements of the Tax Reform Act of 1986, as amended. The plan administrator
filed for a new determination letter on March 16, 1995. The plan administrator
and the Plan's tax counsel believe that the Plan is currently designed and being
operated in compliance with the applicable requirements of the Internal Revenue
Code. Therefore, they believe that the Plan is qualified and the Trust is tax
exempt as of the financial statement date.
On August 26, 1993, the Company's Board of Directors declared a two-for-one
stock split in the form of a 100% stock dividend. On October 1, 1993, one share
of common stock was issued for each share outstanding as of September 7, 1993.
All 1993 share information included in these financial statements and notes is
based on the increased number of shares of common stock after giving retroactive
effect to the stock split.
2. SIGNIFICANT ACCOUNTING POLICIES:
The Plan's financial statements have been prepared on the accrual basis of
accounting. Assets of the Plan are valued at current value as of the date of
the financial statements. Market value fluctuations in the Investment Contract
Fund reflect changes in the effective yield on the underlying securities and
have been included in interest income. Contributions from the Company are
recorded in conformity with the Company's funding policy and were received
subsequent to year-end.
3. INVESTMENTS:
The following is a brief description of the investment funds:
- - The Investment Contract Fund seeks to provide a stable rate of return. The
Investment Contract Fund is a combination of individual guaranteed
investment contracts ("GICs") and collectively invested GICs held by U.S.
Trust Company and managed by Morley Capital Management, Inc., Portland,
Oregon. The Investment Contract Fund invests in GICs issued by insurance
companies and short-term investments.
- - The Balanced Fund seeks to protect principal against inflation through
income and market appreciation. The investment objective of the Balanced
Fund is to provide a positive annual rate of return and preservation of
principal over a full market cycle. The Balanced Fund is invested as part
of a collective investment fund held by Columbia Trust Company, Portland,
Oregon, as custodian. The Balanced Fund may invest in stocks, bonds, and
real estate, guaranteed investment contracts, short-term investments and
other assets deemed appropriate by the fund investment manager.
- - The Diversified Stock Fund seeks to provide market appreciation. The
investment objective of the Diversified Stock Fund is to provide maximum
long-term investment growth over a full market cycle. The Columbia Trust
Company is the investment manager of the Diversified Stock Fund. The
Diversified Stock Fund is invested as part of a collective investment fund
held by Columbia Trust Company, Portland, Oregon, as custodian. The
Diversified Stock Fund invests in stocks and cash.
- - The TJ International Common Stock Fund seeks to allow participants to share
in the performance of the Company through equity ownership. This fund is
invested in shares of Company common stock and short-term investments which
are held by the Trustee.
<PAGE>
The Investment Contract Fund included an investment in the U.S. Trust
Preservation Fund with a current value of $12,577,172, which exceeds 5% of plan
net assets available for plan benefits.
At December 31, 1994, the Plan held $652,528 related to a GIC issued by
Confederation Life. In August 1994, Confederation Life was seized by Canadian
insurance regulators. Simultaneously, the United States operations of
Confederation Life were taken over by regulators in Michigan and Georgia, who
are attempting to rehabilitate those operations. The United States regulators
have issued a statement indicating that they anticipate full contract value, at
the date Confederation Life was seized, to be preserved. The balance recorded
on this contract at December 31, 1994 represents the contract's principal amount
plus accrued interest through the date of seizure. No interest has been accrued
on the contract subsequent to the seizure date.
4. CONTRIBUTIONS:
Participants in the Plan may make elective contributions to any of the
investment options. For the first three quarters of the current Plan year, the
Company's matching contributions were contributed to the Investment Contract
Fund. Effective October 1, 1994, the Company's matching contributions are
invested based on the participant elective contributions.
The Company's annual profit sharing contributions, if any, are invested based on
the participant elective contributions. The Company made profit sharing
contributions of $1,000,900 and $928,500 for 1994 and 1993, respectively. The
Company's Board of Directors, as allowed by the Plan, directed the contributions
to be evenly divided between the Company's Pension & Profit Sharing Plan and the
Employee Stock Ownership Plan in 1994 and 1993.
As of December 31, 1994 and 1993, there were approximately 2,245 and 1,961
participants in the Plan, respectively, some of whom have elected to invest in
more than one fund. The approximate number of participants investing in each
fund was:
<TABLE>
<CAPTION>
December 31
------------------
1994 1993
------ ------
<S> <C> <C>
Investment Contract Fund 958 852
Balanced Fund 1,201 1,180
Diversified Stock Fund 918 755
TJ International Common Stock Fund 918 840
</TABLE>
5. VESTING:
Upon termination of employment, participants are entitled to receive their
elective contributions, their pre-1973 after tax contributions and their vested
portion of the Company's contributions, as adjusted by allocated earnings or
losses resulting from Plan investments. Participants become vested as follows:
Completed Years 7 or 2 or
of Vesting Service more 6 5 4 3 less
-------------------- ---------------------------------------
Vested Percentage 100% 80% 60% 40% 20% 0%
In the event of termination of employment prior to the completion of seven years
of vested service for any reason other than retirement, death or disability, a
participant forfeits the non-vested portion in his or her account balance. The
Plan's break in service provisions provide that the forfeiture of non-vested
participant's account balance and credited years of service will occur in the
year the Plan participation ceases. However, if the participant returns to
active participation before the fifth consecutive one-year break in service, the
non-vested account balance will be reinstated to the participant's account. A
one-year break in service is a Plan year in which a participant is credited with
500 or less hours of service. These forfeitures, totaling
<PAGE>
$392,189 and $411,156 in 1994 and 1993, respectively, are allocated to the
remaining participants in the Plan. In addition, the Plan had $66,787 and
$162,389 of unallocated forfeitures as of December 31, 1994 and 1993,
respectively.
In the event of a Plan termination, all participant accounts become fully
vested.
6. PLAN TRANSFERS AND MERGER:
In compliance with the Tax Reform Act of 1986, the Company's Employee Stock
Ownership Plan (ESOP) participants age 55 or older and with at least ten years
of ESOP participation must be allowed the opportunity to diversify their
investment from Company stock to a minimum of three investment options.
Accordingly, eligible ESOP participants may elect to transfer all or a portion
of their account balance to the four investment options in the Plan. Eligible
participants elected to transfer their account balances totaling $372,060 and
$65,432 in 1994 and 1993, respectively, from the ESOP to the Plan.
Effective April 1, 1995, the accounts of the Norco Windows, Inc. employees were
merged into the replacement Outlook Window 401(k) Plan.
7. RECONCILIATION TO THE PLAN TAX RETURN:
At December 31, 1994 and 1993, the net assets available for plan benefits
includes $573,192 and $519,019, respectively, of amounts which are due to
participants but have not been paid. These amounts have been accrued as
liabilities and subtracted from net assets available for plan benefits in the
Plan's tax return.
<PAGE>
SUPPLEMENTAL SCHEDULE 1
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS BY FUND
FOR THE YEARS ENDED DECEMBER 31, 1994 AND 1993
<TABLE>
<CAPTION>
TJ
Investment International
Contract Balanced Diversified Common
As of December 31, 1994 Fund Fund Stock Fund Stock Fund Total Plan
- ----------------------- ----------- ---------- ------------ ------------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at current value $19,806,752 $23,631,595 $15,346,938 $16,558,957 $75,344,242
Cash and cash equivalents 272,394 1,100,539 1,542,709 3,100 2,918,742
Receivables:
Employer contributions 271,729 393,491 250,327 293,465 1,209,012
Employee contributions 99,852 133,868 93,177 102,276 429,173
Interest and dividends 1,048 1,278 1,414 44,950 48,690
Due (to) from other funds 79,841 (950,361) (1,471,971) 2,342,491 -
----------- ----------- ----------- ----------- -----------
20,531,616 24,310,410 15,762,594 19,345,239 79,949,859
----------- ----------- ----------- ----------- -----------
LIABILITIES
Accrued management fees 20,686 49,782 33,193 3,258 106,919
Other accounts payable - - - 2,187,998 2,187,998
----------- ----------- ----------- ----------- -----------
20,686 49,782 33,193 2,191,256 2,294,917
----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $20,510,930 $24,260,628 $15,729,401 $17,153,983 $77,654,942
=========== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
TJ
Investment International
Contract Balanced Diversified Common
As of December 31, 1993 Fund Fund Stock Fund Stock Fund Total Plan
- ----------------------- ----------- ---------- ------------ ------------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Investments, at current value $17,091,499 $25,312,867 $15,084,217 $19,169,909 $76,658,492
Cash and cash equivalents 1,354,637 130,715 896,094 9,620 2,391,066
Receivables:
Employer contributions 1,071,258 - - - 1,071,258
Employee contributions 96,345 155,563 89,347 72,722 413,977
Interest and dividends 443 720 686 31,460 33,309
Due (to) from other funds (1,304,033) 159,968 (692,832) 1,836,897 -
----------- ----------- ----------- ----------- -----------
18,310,149 25,759,833 15,377,512 21,120,608 80,568,102
----------- ----------- ----------- ----------- -----------
LIABILITIES
Accrued management fees 17,100 53,296 32,745 4,033 107,174
Other accounts payable - - - 1,799,981 1,799,981
----------- ----------- ----------- ----------- -----------
17,100 53,296 32,745 1,804,014 1,907,155
----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $18,293,049 $25,706,537 $15,344,767 $19,316,594 $78,660,947
=========== =========== =========== =========== ===========
</TABLE>
7
<PAGE>
SUPPLEMENTAL SCHEDULE 2
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS BY FUND
FOR THE YEARS ENDED DECEMBER 31, 1994 AND 1993
<TABLE>
<CAPTION>
TJ
Investment International
Contract Balanced Diversified Common
As of December 31, 1994 Fund Fund Stock Fund Stock Fund Total Plan
- ----------------------- ----------- ---------- ------------ ------------- -----------
<S> <C> <C> <C> <C> <C>
Investment income:
Interest income $ 1,194,837 $ 4,682 $ 6,327 $ 1,175 $ 1,207,021
Dividend income - - - 162,307 162,307
Management fees and other (87,584) (210,335) (135,372) (15,933) (449,224)
Gain on disposition of investments, net - 718,563 578,857 - 1,297,420
Unrealized depreciation of investments, net - (698,132) (374,976) (8,749,327) (9,822,435)
Contributions:
Employee 1,167,735 1,926,210 1,478,514 1,466,544 6,039,003
Employer 2,241,285 503,778 329,135 380,333 3,454,531
Plan benefit claims distributed
during the year (1,421,536) (988,167) (397,056) (459,929) (3,266,688)
Transfers among funds, net (877,715) (2,703,367) (1,100,795) 4,681,877 -
Plan merger and transfers 859 859 - 370,342 372,060
----------- ----------- ----------- ----------- -----------
Net increase (decrease) during the year 2,217,881 (1,445,909) 384,634 (2,162,611) (1,006,005)
Net assets available for plan benefits, beginning
of year 18,293,049 25,706,537 15,344,767 19,316,594 78,660,947
----------- ----------- ----------- ----------- -----------
Net assets available for plan benefits, end of
year $20,510,930 $24,260,628 $15,729,401 $17,153,983 $77,654,942
----------- ----------- ----------- ----------- -----------
----------- ----------- ----------- ----------- -----------
As of December 31, 1993
- -----------------------
Investment income:
Interest income $ 1,177,778 $ 11,414 $ 1,717 $ 372 $ 1,191,281
Dividend income - - - 108,645 108,645
Management fees and other (75,505) (205,311) (129,256) (10,056) (420,128)
Gain (loss) on disposition of investments, net - 584,044 684,711 (44,633) 1,224,122
Unrealized appreciation of investments, net - 2,498,254 1,542,990 9,474,130 13,515,374
Contributions:
Employee 1,082,576 1,805,619 1,166,669 776,203 4,831,067
Employer 2,416,204 - - - 2,416,204
Plan benefit claims distributed
during the year (487,962) (856,218) (473,763) (151,804) (1,969,747)
Transfers among funds, net (2,536,336) (1,037,429) (1,110,230) 4,683,995 -
Plan merger and transfers 3,289 4,824 6,143 51,176 65,432
----------- ----------- ----------- ----------- -----------
Net increase during the year 1,580,044 2,805,197 1,688,981 14,888,028 20,962,250
Net assets available for plan benefits, beginning
of year 16,713,005 22,901,340 13,655,786 4,428,566 57,698,697
----------- ----------- ----------- ----------- -----------
Net assets available for plan benefits, end of
year $18,293,049 $25,706,537 $15,344,767 $19,316,594 $78,660,947
----------- ----------- ----------- ----------- -----------
----------- ----------- ----------- ----------- -----------
</TABLE>
8
<PAGE>
SUPPLEMENTAL SCHEDULE 3
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
INVESTMENT CONTRACT FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio, 272,393
participation units, interest
rates and due dates variable $ 272,394 $ 272,394
----------- -----------
----------- -----------
Confederation Life (1) Guaranteed investment contract
number 62513, 8.77% rate of
return, July 2, 1996 maturity
date $ 652,528 $ 652,528
Crown Life Guaranteed investment contract
number GARC-9003944, 9.20% rate
of return, July 5, 1995
maturity date 716,327 716,327
Life of Virginia Guaranteed investment contract
number GS-2554, 7.63% rate
of return, February 28, 1997
maturity date 615,667 615,667
Manufacturers Life Guaranteed investment contract
number GD-38331, 9.11% rate of
return, May 8, 1995 maturity
date 521,717 521,717
New York Life Guaranteed investment contract
number GA-9130-1, 7.15% rate of
return, August 29, 1997
maturity date 341,365 341,365
New York Life Guaranteed investment contract
number GA-9130-2, 7.15% rate of
return, August 28, 1998
maturity date 341,365 341,365
<FN>
(1) In August 1994, Confederation Life was seized by Canadian insurance
regulators. Simultaneously, the United States operations of Confederation
Life were taken over by regulators in Michigan and Georgia, who are
attempting to rehabilitate those operations. The United States regulators
have issued a statement indicating that they anticipate full contract
value, at the date Confederation Life was seized, to be preserved. The
balance recorded on this contract at December 31, 1994 represents the
contract's principal amount plus accrued interest through the date of
seizure. No interest has been accrued on the contract subsequent to the
seizure date.
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULE 3
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
INVESTMENT CONTRACT FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
New York Life Guaranteed investment contract
number GA-9130-3, 7.15% rate
of return, August 27, 1999
maturity date $ 341,365 $ 341,365
Penn Mutual Life Guaranteed investment contract
number GVC-91101, 9.35% rate
of return, November 29, 1995
maturity date 736,941 736,941
Principal Mutual Guaranteed investment contract
number GA4-14925, 7.92% rate
of return, December 10, 1999
maturity date 1,017,271 1,017,271
Protective Life Guaranteed investment contract
number GA-556, 8.73% rate of
return, March 2, 1996 maturity
date 804,311 804,311
Safeco Life Guaranteed investment contract
Insurance Co. number LP-133970, 8.54% rate
of return, May 15, 1996
maturity date 471,264 471,264
Sun Life Assurance Guaranteed investment contract
number S-0717-G, 8.7% rate of
return, September 2, 1996
maturity date 669,459 669,459
U.S. Trust Company * U.S. Trust Preservation Fund
513,333 participation units,
interest rates and due dates
variable 12,577,172 12,577,172
----------- -----------
Total Investment Contract Fund
investments $19,806,752 $19,806,752
----------- -----------
----------- -----------
<FN>
* Known party-in-interest
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULE 3
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
BALANCED FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio, 1,100,539
participation units, interest
rates and due dates variable $ 1,100,539 $ 1,100,539
----------- -----------
----------- -----------
Columbia Trust Balanced Fund, 3,656,523
Company * participation units $15,703,449 $23,631,595
----------- -----------
----------- -----------
<FN>
* Known party-in-interest.
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULE 3
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
DIVERSIFIED STOCK FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio,
1,542,709 participation units,
interest rates and due dates
variable $ 1,542,709 $ 1,542,709
----------- -----------
----------- -----------
Columbia Trust Diversified Stock Fund,
Company * 1,787,973 participation units. $ 8,966,433 $15,346,938
----------- -----------
----------- -----------
<FN>
* Known party-in-interest.
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULE 3
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
TJ INTERNATIONAL COMMON STOCK FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SEI Financial Services SEI Daily Income Trust -
Company Prime Obligation Portfolio
3,100 participation units,
interest rates and due
dates variable $ 3,100 $ 3,100
----------- -----------
----------- -----------
TJ International, 932,899 shares common stock
Inc. * $16,652,843 $16,558,957
----------- -----------
----------- -----------
<FN>
* Known party-in-interest
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULE 4
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
ITEM 27(d) - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1994
<TABLE>
<CAPTION>
Description Total Total
Assets, Interest Number Dollar Dollar
Identity of Party Rate and of Value of Value of Lease
Involved Maturity Date Transactions Purchases Sales Rental
---------------------- ----------------- ------------ ---------- -------- ------
<S> <C> <C> <C> <C> <C>
SEI Financial Services SEI Daily Income Trust -
Company Prime Obligation
Portfolio, interest rates
and maturity dates
variable 110 $12,954,623 $ - N/A
SEI Financial Services SEI Daily Income Trust -
Company Prime Obligation
Portfolio, interest rates
and maturity dates
variable 98 - 12,676,864 N/A
TJ International, Inc. * Common stock 36 5,272,494 - N/A
U.S. Trust Company * U.S. Trust Preservation
Fund 2 2,099,964 - N/A
U.S. Trust Company * U.S. Trust Preservation
Fund 8 - 1,872,427 N/A
<FN>
* Known party-in-interest
</TABLE>
<TABLE>
<CAPTION>
Description Expenses Current Value
Assets, Interest Incurred of Assets on Net Gain
Identity of Party Rate and with Cost of Transaction or
Involved Maturity Date Transactions Assets Date (Loss)
---------------------- ----------------- ------------ ---------- -------- ------
<S> <C> <C> <C> <C> <C>
SEI Financial Services SEI Daily Income Trust -
Company Prime Obligation
Portfolio, interest rates
and maturity dates
variable $ - $12,954,623 $12,954,623 $ -
SEI Financial Services SEI Daily Income Trust -
Company Prime Obligation
Portfolio, interest rates
and maturity dates
variable - 12,676,864 12,676,864 -
TJ International, Inc. * Common stock - 5,272,494 5,272,494 -
U.S. Trust Company * U.S. Trust Preservation
Fund - 2,099,964 2,099,964 -
U.S. Trust Company * U.S. Trust Preservation
Fund - 1,830,500 1,872,427 41,927
<FN>
* Known party-in-interest
</TABLE>
14
<PAGE>
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of our
report dated April 14, 1995, included in this Form 11-K for the year ended
December 31, 1994, into the Company's previously filed Registration Statement on
Form S-8 (33-21870).
ARTHUR ANDERSEN LLP
Boise, Idaho
May 10, 1995
