<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, 1995
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, ID 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: June 27, 1996 /s/ Valerie A. Heusinkveld
----------------- ---------------------------------
(Signature)
Valerie A. Heusinkveld
Committee Member
Pension & Profit Sharing Plan
Administrative Committee
<PAGE>
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of our
report dated April 9, 1996, included in this Form 11-K for the year ended
December 31, 1995, into the Company's previously filed Registration Statement on
Form S-8 (33-21870).
ARTHUR ANDERSEN LLP
/S/
Boise, Idaho
June 27, 1996
<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 and the statements of net assets available for benefits by fund
(Supplemental Schedule 1) of the TJ International, Inc. Pension & Profit Sharing
Plan (the Plan) as of December 31, 1995 and 1994, and the related statements of
changes in net assets available for plan benefits and statements of changes in
net assets available for benefits by fund (Supplemental Schedule 2) for the
years then ended. These financial statements and the supplemental schedules 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 and Supplemental Schedules 1 and 2
referred to above present fairly, in all material respects, the net assets
available for plan benefits of the Plan as of December 31, 1995 and 1994 and the
changes in 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 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.
ARTHUR ANDERSEN LLP
/S/
Boise, Idaho
April 9, 1996
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
FINANCIAL STATEMENTS
AS OF DECEMBER 31, 1995 AND 1994
TOGETHER WITH AUDITORS' REPORT
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31,
---------------------------
ASSETS 1995 1994
------------ ------------
Investments, at current value $65,756,182 $55,537,490
Investments, at contract value 18,402,734 19,806,752
Cash and cash equivalents 235,964 2,918,742
Receivables:
Employer contributions 207,293 1,209,012
Employee contributions 370,392 429,173
Interest and dividends 55,016 48,690
Participant loans 2,649,820 -
----------- -----------
87,677,401 79,949,859
----------- -----------
LIABILITIES
Accrued management fees 139,131 106,919
Other accounts payable 233,302 2,187,998
----------- -----------
372,433 2,294,917
----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $87,304,968 $77,654,942
=========== ===========
The accompanying notes and Supplemental Schedules 1 and 2
are an integral part of these financial statements.
1
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
For the Years Ended
December 31,
---------------------------
1995 1994
----------- ------------
Investment income:
Interest income $ 1,363,813 $ 1,207,021
Dividend income 203,397 162,307
Management fees and other (440,171) (449,224)
----------- -----------
1,127,039 920,104
----------- -----------
Gain on disposition of investments, net 1,229,714 1,297,420
Unrealized appreciation (depreciation) of
investments, net 9,769,453 (9,822,435)
Contributions:
Employee 6,039,276 6,039,003
Employer 2,778,319 3,454,531
----------- -----------
8,817,595 9,493,534
----------- -----------
Total additions 20,943,801 1,888,623
Plan benefit claims distributed during the year (5,291,815) (3,266,688)
Plan transfers and merger (6,001,960) 372,060
----------- -----------
Net increase (decrease) during the year 9,650,026 (1,006,005)
Net assets available for plan benefits, beginning
of year 77,654,942 78,660,947
----------- -----------
Net assets available for plan benefits, end of
year $87,304,968 $77,654,942
=========== ===========
The accompanying notes and Supplemental Schedules 1 and 2
are an integral part of these financial statements.
2
<PAGE>
TJ INTERNATIONAL, INC.
PENSION & PROFIT SHARING PLAN
NOTES TO THE 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% of contributed compensation and
50% of the next 4% of contributed compensation 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 the number of
vested years within the Plan. Effective in 1996, the allocation formula
will be based solely on participants' annual earnings.
- - A rollover contribution account consisting of participant contributions
received from a previous employer sponsored qualified plan.
- - An employee pre-1973 after tax contribution account consisting of
participants' contributions made to the Plan prior to 1973.
Employee contributions and the related company matching contributions are
credited to the participants' accounts as payrolls are processed throughout the
year. The Company's profit sharing and forfeiture reallocation contributions
are credited to the participants' accounts annually. The Company matching,
profit sharing and forfeiture reallocation are subject to vesting provisions of
the Plan as described in Note 5. Participants are always fully vested in their
elective contribution, rollover 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. The Company makes 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.
3
<PAGE>
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.
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 October 13, 1995, 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.
2. SIGNIFICANT ACCOUNTING POLICIES:
The Plan's financial statements have been prepared on the accrual basis of
accounting and require the use of management's estimates. Contributions from
the Company are recorded in conformity with the Company's funding policy and
were received subsequent to year-end. The accrual basis of accounting requires
that purchases and sales of securities be recorded on a trade date basis.
Accordingly, dividends are accrued when declared, and allocated in conformity
with the Plan policy. Benefits are recorded when paid.
Assets of the Plan are valued at fair value, except for the Investment Contract
Fund, which is valued at contract value, and approximates fair market value at
December 31, 1995 and 1994. 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.
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 contracts included in the
financial statements are at contract value. Contract value represents
contributions made under the contract, plus interest, less plan withdrawals
and administrative expenses.
- - 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.
4
<PAGE>
- - 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.
The following investments exceed 5% of net assets available for plan benefits:
<TABLE>
<CAPTION>
December 31,
--------------------------
Fund Investment 1995 1994
- ------------------------ ----------------------------------- ----------- -----------
<S> <C> <C> <C>
Investment Contract Fund U.S. Trust Company - U.S. Trust
Preservation Fund, 422,520 and
513,333 participation units, for
1995 and 1994, respectively,
interest rates and due dates
variable $11,018,054 $12,577,172
Balanced Fund Columbia Trust Company - Balanced
Fund, 3,483,744 participation units 28,104,203 23,631,595
Diversified Stock Fund Columbia Trust Company - Diversified
Stock Fund, 1,872,716 and 3,656,523
participation units for 1995 and
1994, respectively 21,183,663 15,346,938
TJ International Common
Stock Fund 890,179 and 932,899 shares common
stock, for 1995 and 1994,
respectively 16,468,316 16,558,957
</TABLE>
At December 31, 1995, 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, 1995 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.
At December 31, 1995 and 1994, the Investment Contract Fund invested in
insurance contracts with stated interest rates ranging from 7.15% to 8.77%. The
effective yields during these periods were 6.62% and 6.21%, respectively.
4. CONTRIBUTIONS:
Participants in the Plan may make elective contributions to any of the
investment options. 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 $0 and $1,000,900 for 1995 and 1994, respectively. The
Company's Board of Directors, as allowed by the Plan, directed the contributions
to be distributed to the Employee Stock Ownership Plan in 1995, and to be evenly
divided between the Plan and the Company's Employee Stock Ownership Plan in
1994.
As of December 31, 1995 and 1994, there were approximately 2,046 and 2,245
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:
5
<PAGE>
December 31,
-------------------
1995 1994
-------- --------
Investment Contract Fund 873 958
Balanced Fund 1,119 1,201
Diversified Stock Fund 951 918
TJ International Common Stock Fund 912 918
5. VESTING:
Upon termination of employment, participants are entitled to receive their
elective contributions, their rollover contributions, their pre-1973 after tax
contributions and their vested portion of the Company's contributions, their
rollover 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 that 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 $656,172 and $392,189
in 1995 and 1994, respectively, are allocated to the remaining participants in
the Plan. In addition, the Plan had $112,653 and $66,787 of unallocated
forfeitures as of December 31, 1995 and 1994, respectively.
In the event of a Plan termination, the accounts of all participants affected by
such termination shall become fully vested and thereafter not subject to
forfeiture.
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 $173,326 and
$372,060 in 1995 and 1994, 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. The Plan transferred
$6,175,286 into the replacement Outlook Window 401(k) Plan.
7. SUBSEQUENT EVENT:
Effective January 1, 1996, the Pension & Profit Sharing Plan was renamed the TJ
International, Inc. Investment Plan (TIP). Effective in April 1996, the assets
of the Employee Stock Ownership Plan were merged into the TIP and Fidelity
Investments became the investment manager, trustee and recordkeeper for the new
consolidated investment plan. Also effective in April 1996, the number of
investment options was increased from four funds to six funds and the Company
began making its matching contribution in TJ International, Inc. common stock.
6
<PAGE>
8. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500:
The following is a reconciliation of net assets available for benefits per the
financial statements to the Form 5500:
December 31,
----------------------------
1995 1994
------------ ------------
Net assets available for benefits per the
financial statements $87,304,968 $77,654,942
Amounts allocated to withdrawing participants 912,116 573,192
----------- -----------
Net assets available for benefits per the
Form 5500 $86,392,852 $77,081,750
=========== ===========
The following is a reconciliation of benefits paid to participants per the
financial statement to the Form 5500:
1995
----------
Benefits paid to participants per the financial statements $5,291,815
Add: Amounts allocated to withdrawing participants at
December 31, 1995 912,116
Less: Amounts allocated to withdrawing participants at
December 31, 1994 (573,192)
----------
Benefits paid to participants per the Form 5500 $5,630,739
==========
Amounts allocated to withdrawing participants are recorded on the Form 5500 for
benefit claims that have been processed and approved for payment prior to
December 31, but have not been paid as of that date.
7
<PAGE>
RESERVED FOR
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, 1995, 1994 AND 1993
8
<PAGE>
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS BY FUND
AS OF DECEMBER 31, 1995 AND 1994
<TABLE>
<CAPTION>
Participant Directed
------------------------------------------------------------------------
Investment TJ International
Contract Balanced Diversified Common Participant
As of December 31, 1995 Fund Fund Stock Fund Stock Fund Loans Total Plan
- ----------------------- ----------- ----------- ----------- ---------------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at current value $ - $28,104,203 $21,183,663 $16,468,316 $ - $65,756,182
Investment, at contract value 18,402,734 - - - - 18,402,734
Cash and cash equivalents 60,963 86,307 70,545 18,149 - 235,964
Receivables:
Employer contributions 45,765 61,637 47,635 52,256 - 207,293
Employee contributions 78,665 115,660 85,381 90,686 - 370,392
Interest and dividends 4,435 618 552 49,411 - 55,016
Due (to) from other funds (293,745) (14,576) 43,894 86,683 177,744 -
Participant loans - - - - 2,649,820 2,649,820
----------- ----------- ----------- ----------- ----------- -----------
18,298,817 28,353,849 21,431,670 16,765,501 2,827,564 87,677,401
----------- ----------- ----------- ----------- ----------- -----------
LIABILITIES
Accrued management fees 18,325 63,877 48,293 8,636 - 139,131
Other accounts payable - - - 102 233,200 233,302
----------- ----------- ----------- ----------- ----------- -----------
18,325 63,877 48,293 8,738 233,200 372,433
----------- ----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS $18,280,492 $28,289,972 $21,383,377 $16,756,763 $ 2,594,364 $87,304,968
=========== =========== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
Investment TJ International
Contract Balanced Diversified Common Participant
As of December 31, 1994 Fund Fund Stock Fund Stock Fund Loans Total Plan
- ----------------------- ----------- ----------- ----------- ---------------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at current value $ - $23,631,595 $15,346,938 $16,558,957 $ - $55,537,490
Investments, at contract value 19,806,752 - - - - 19,806,752
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>
<PAGE>
RESERVED FOR
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, 1995, 1994 AND 1993
9
<PAGE>
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, 1995 AND 1994
<TABLE>
<CAPTION>
Participant Directed
------------------------------------------------------------------------
Investment TJ International
For the Year Ended Contract Balanced Diversified Common Participant
December 31, 1995 Fund Fund Stock Fund Stock Fund Loans Total Plan
- ----------------- ----------- ----------- ----------- ---------------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Investment income:
Interest income $ 1,221,553 $ 13,215 $ 14,722 $ 9,915 $ 104,408 $ 1,363,813
Dividend income - - - 203,397 - 203,397
Management fees and other (64,548) (210,469) (150,111) (15,043) - (440,171)
Gain on disposition of
investments, net - 853,248 376,466 - - 1,229,714
Unrealized appreciation of
investments, net - 4,728,413 4,382,284 658,756 - 9,769,453
Contributions:
Employee 1,195,500 1,789,697 1,494,281 1,559,798 - 6,039,276
Employer 604,053 810,118 641,076 723,072 - 2,778,319
Plan benefit claims distributed
during the year (2,078,552) (1,554,487) (668,325) (769,366) (221,085) (5,291,815)
Loans initiated, net of
repayments and interest (522,014) (1,028,590) (438,025) (722,412) 2,711,041 -
Transfers among funds, net (124,848) 269,785 1,087,989 (1,232,926) - -
Plan merger and transfers (2,461,582) (1,641,586) (1,086,381) (812,411) - (6,001,960)
----------- ----------- ----------- ----------- ----------- -----------
Net increase (decrease) during
the year (2,230,438) 4,029,344 5,653,976 (397,220) 2,594,364 9,650,026
Net assets available for plan
benefits, beginning of year 20,510,930 24,260,628 15,729,401 17,153,983 - 77,654,942
----------- ----------- ----------- ----------- ----------- -----------
Net assets available for plan
benefits, end of year $18,280,492 $28,289,972 $21,383,377 $16,756,763 $ 2,594,364 $87,304,968
=========== =========== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
Investment TJ International
For the Year Ended Contract Balanced Diversified Common Participant
December 31, 1994 Fund Fund Stock Fund Stock Fund Loans Total Plan
- ----------------- ----------- ----------- ----------- ---------------- ----------- ------------
<S> <C> <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
=========== =========== =========== =========== =========== ===========
</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, 1995
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash $ 2,799 $ 2,799
=========== ===========
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio, 58,164
participation units, interest rates
and due dates variable $ 58,164 $ 58,164
=========== ===========
Confederation Life (1) Guaranteed investment contract
number 62513, 8.77% rate of return,
July 2, 1996 maturity date $ 652,528 $ 652,528
First Allmerica Guaranteed investment contract number
Financial Life GA-92175-A, 7.55% rate of return,
December 28, 1997 maturity date 1,063,131 1,063,131
Life of Virginia Guaranteed investment contract number
2554A, 7.63% rate of return,
February 28, 1997 maturity date 662,023 662,023
New York Life Guaranteed investment contract number
GA-30214-1, 7.15% rate of return,
August 29, 1997 maturity date 365,342 365,342
New York Life Guaranteed investment contract number
GA-30214-2, 7.15% rate of return,
August 28, 1998 maturity date 365,342 365,342
New York Life Guaranteed investment contract number
GA-30214-3, 7.15% rate of return,
August 27, 1999 maturity date 365,342 365,342
</TABLE>
(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, 1995 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.
10
<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, 1995
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Principal Mutual Guaranteed investment contract number
GA4-14925, 7.92% rate of return,
December 10, 1999 maturity date 1,097,787 1,097,787
Protective Life Guaranteed investment contract number
GA-556, 8.73% rate of return,
March 2, 1996 maturity date 874,090 874,090
Safeco Life Insurance Co. Guaranteed investment contract number
LP-133970, 8.54% rate of return,
May 15, 1996 maturity date 511,387 511,387
Sun Life Assurance Guaranteed investment contract number
S-0717-G, 8.7% rate of return,
September 2, 1996 maturity date 727,701 727,701
U.S. Trust Company * U.S. Trust Preservation Fund 422,520
participation units, interest rates
and due dates variable 11,018,054 11,018,054
Fidelity Investments Fidelity Income Portfolio Fund 700,000
participation units, interest rates
and due dates variable 700,000 700,000
U.S. Trust Company * U.S. Trust Money Market Fund 7
participation units, interest rates
and due dates variable 7 7
----------- -----------
Total Investment Contract Fund
investments $18,402,734 $18,402,734
=========== ===========
</TABLE>
* Known party-in-interest
11
<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, 1995
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash $ 632 $ 632
=========== ===========
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio, 85,675
participation units, interest
rates and due dates variable $ 85,675 $ 85,675
=========== ===========
Columbia Trust Company * Balanced Fund, 3,483,744
participation units $15,384,877 $28,104,203
=========== ===========
</TABLE>
* Known party-in-interest.
12
<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, 1995
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- --------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash $ 7,632 $ 7,632
=========== ===========
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio, 62,913
participation units, interest
rates and due dates variable $ 62,913 $ 62,913
=========== ===========
Columbia Trust Company * Diversified Stock Fund,
1,872,716 participation units $10,363,145 $21,183,663
=========== ===========
</TABLE>
* Known party-in-interest.
13
<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, 1995
<TABLE>
<CAPTION>
Current
Identity of Issue Description of Investment Cost Value
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash $ 2,655 $ 2,655
=========== ===========
SEI Financial SEI Daily Income Trust - Prime
Services Company Obligation Portfolio 15,494
participation units, interest
rates and due dates variable $ 15,494 $ 15,494
=========== ===========
TJ International, Inc. * 890,179 shares common stock $16,048,180 $16,468,316
=========== ===========
</TABLE>
* Known party-in-interest
14
<PAGE>
RESERVED FOR
SUPPLEMENTAL SCHEDULE 4
TJ INTERNATIONAL, INC.
EIN: 82-0250992
PENSION & PROFIT SHARING PLAN
PLAN NUMBER 002
ITEM 30(d) - SCHEDULE OF TRANSACTIONS OR SERIES OF TRANSACTIONS
IN EXCESS OF 5% OF THE CURRENT VALUE OF PLAN ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1995
15
<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, 1995
<TABLE>
<CAPTION>
Description Total Total Expenses Current Value Net
Assets, Interest Number Dollar Dollar Incurred of Assets on Gain
Identity of Party Rate and of Value of Value of Lease with Cost of Transaction or
Involved Maturity Date Transactions Purchases Sales Rental Transactions Assets Date (Loss)
- ----------------- ---------------- ------------ --------- -------- ------ ------------ ------- ------------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SEI Financial SEI Daily Income
Services Company Trust - Prime
Obligation
Portfolio,
interest rates
and maturity
dates variable 184 $21,795,989 $ - N/A $ - $21,795,989 $21,795,989 $ -
SEI Financial SEI Daily Income
Services Company Trust - Prime
Obligation
Portfolio,
interest rates
and maturity
dates variable 141 $ - $24,485,486 N/A $ - $24,485,486 $24,485,486 $ -
</TABLE>
