UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2005 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number 001-15059 A. Full title of the plan and the address of the plan, if different from that of the issuer below: Nordstrom 401(k) Plan & Profit Sharing B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Nordstrom, Inc. 1617 Sixth Avenue, Seattle, Washington 98101 1 Required Information 1. Not applicable 2. Not applicable 3. Not applicable 4. The Nordstrom 401(k) Plan & Profit Sharing is subject to the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA"). Plan financial statements and schedules prepared in accordance with the financial reporting requirements of ERISA are filed as Exhibit 99.1. The Consent of Independent Registered Public Accounting Firm is filed as Exhibit 23.1. The Exhibit Index is located on page 4 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the employee benefit plan have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. Nordstrom 401(k) Plan & Profit Sharing Date: June 15, 2006 /s/ Michael G. Koppel ---------------------------------- Michael G. Koppel Executive Vice President and Chief Financial Officer of Nordstrom, Inc. Plan Administrator of Nordstrom 401(k) Plan & Profit Sharing 3 Nordstrom 401(k) Plan & Profit Sharing FORM 11-K Exhibit Index This exhibit list is provided pursuant to the requirement of the Securities Exchange Act section 240.0-3. Exhibit Method of Filing - ------- ---------------- 23.1 Consent of Independent Registered Filed herewith electronically Public Accounting Firm 99.1 Nordstrom 401(k) Plan & Profit Filed herewith electronically Sharing Financial Statements 99.2 Nordstrom 401(k) Plan & Profit Incorporated by reference from the Sharing, as amended and Nordstrom, Inc. Annual Report on restated on January 1, 2004 Form 11-K for the year ended December 31, 2003, Exhibit 99.2 99.3 Amendment 2005-1 to the Incorporated by reference from the Nordstrom 401(k) Plan & Profit Nordstrom, Inc. Annual Report on Sharing dated January 1, 2004 Form 10-K for the year ended January 28, 2006, Exhibit 10.6 99.4 Amendment 2005-2 to the Incorporated by reference from the Nordstrom 401(k) Plan & Profit Nordstrom, Inc. Annual Report on Sharing dated January 1, 2004 Form 10-K for the year ended January 28, 2006, Exhibit 10.7 4
Exhibit 23.1 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We consent to the incorporation by reference in Registration Statement Nos. 033-18321, 333-63403,333-40064, 333-40066, 333-79791, 333-101110, and 333- 118756 on Form S-8, each of Nordstrom, Inc. and subsidiaries, of our report dated June 15, 2006, appearing in this Annual Report on Form 11-K of Nordstrom 401(k) Plan & Profit Sharing for the year ended December 31, 2005. /s/ Deloitte & Touche LLP Seattle, Washington June 14, 2006
Exhibit 99.1 Nordstrom 401(k) Plan & Profit Sharing Financial Statements as of and for the Years Ended December 31, 2005 and 2004, and Supplemental Schedule as of December 31, 2005, and Report of Independent Registered Public Accounting Firm NORDSTROM 401(K) PLAN & PROFIT SHARING - ----------------------------------------------------------------------------- All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
TABLE OF CONTENTS Page REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 2005 and 2004 2 Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 2005 and 2004 3 Notes to Financial Statements 4 SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2005: Schedule of Assets Held for Investment Purposes 11 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Administrative Committee Nordstrom 401(k) Plan & Profit Sharing Seattle, Washington We have audited the accompanying statements of net assets available for benefits of the Nordstrom 401(k) Plan & Profit Sharing (the "Plan") as of December 31, 2005 and 2004, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of Plan sponsor's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (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. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2005 and 2004, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets held for investment purposes as of December 31, 2005, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan sponsor's management. Such supplemental schedule has been subjected to the auditing procedures applied in our audit of the basic 2005 financial statements and, in our opinion, is fairly stated, in all material respects, when considered in relation to the basic financial statements taken as a whole. /s/ Deloitte & Touche LLP Seattle, Washington June 13, 2006 - 1 - NORDSTROM 401(k) PLAN & PROFIT SHARING STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) The accompanying Notes to the Financial Statements are an integral part of these statements. - 2 -
2005 2004 ---------- ---------- ASSETS: Participant-directed investments - at fair value $1,461,492 $1,269,831 Employer contributions receivable 66,436 54,576 Accrued interest and dividends receivable 355 281 Other assets 2,092 1,194 ---------- ---------- Total assets 1,530,375 1,325,882 LIABILITIES: Trustee and administrative fees payable 463 602 Excess contributions payable to participants 761 - ---------- ---------- Total liabilities 1,224 602 ---------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $1,529,151 $1,325,280 ========== ========== NORDSTROM 401(k) PLAN & PROFIT SHARING STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEARS ENDED DECEMBER 31, 2005 and 2004 (dollar amounts in thousands) The accompanying Notes to the Financial Statements are an integral part of these statements. - 3 -
2005 2004 ---------- ---------- ADDITIONS: Employer contributions $66,436 $54,576 Participant contributions 63,917 61,414 Investment income: Net realized and unrealized investment gains 141,967 113,063 Interest and dividends 33,656 30,421 ---------- ---------- Total investment income 175,623 143,484 ---------- ---------- Total additions 305,976 259,474 ---------- ---------- DEDUCTIONS: Benefit payments to participants (99,377) (93,963) Trustee fees, administrative expenses, and other (2,728) (2,528) ---------- ---------- Total deductions (102,105) (96,491) ---------- ---------- NET ADDITIONS 203,871 162,983 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 1,325,280 1,162,297 ---------- ---------- End of year $1,529,151 $1,325,280 ========== ========== NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) 1. THE PLAN AND SIGNIFICANT ACCOUNTING POLICIES General-The Nordstrom 401(k) Plan & Profit Sharing (the "Plan"), as amended, was originally established on January 1, 1953. The Plan is an individual account profit sharing plan, which, since February 1, 1988, has included a 401(k) feature. Participants should refer to the Plan documents for a more complete description of the Plan's provisions. The following description is for informational purposes only and does not bind the Plan. All employees in an eligible employment classification of Nordstrom, Inc. and participating subsidiaries (the "Company") are eligible to participate in the Plan. For purposes of eligibility for Company profit sharing and matching contributions, participation begins on the first day of the calendar month coinciding with or following the one-year anniversary from the employee's original hire date. For purposes of eligibility to make elective salary deferrals (401(k) contributions), participation begins on the first of the month coinciding with or following three full months of employment. The Plan also contains special eligibility provisions to ensure that all employees enter the Plan by the latest participation date required under the applicable provisions of the Internal Revenue Code. Eligible employees who do not elect a different salary deferral contribution are automatically enrolled in the Plan beginning on the first of the month coinciding with or following the first anniversary of the employee's employment commencement date with a salary deferral contribution equal to 2% of compensation. Employees have the option to elect a zero percent salary deferral or to change their salary deferral percentage in accordance with the Plan. For the Plan year ended December 31, 2005, to qualify for Company profit sharing and matching contributions, participants must work at least 1,000 hours during the payroll calendar year and be employed on the last day of the Plan Year (the "last day" requirement is waived if the participant terminates employment due to retirement, disability or death). Effective January 1, 2005, the Plan was amended as follows: - - to reflect an employee's ability to irrevocably waive eligibility to participate in the Plan; - - to clarify the Plan's administration of insurance contracts held for investment in participant accounts; - - to reduce the threshold amount for involuntary distribution of a participant's account from $5 to $1 for distributions on and after March 28, 2005; and - - to increase the period of non-payment after which a participant loan will be deemed in default from 80 days to 90 days. Effective January 1, 2004, the Plan was amended as follows: - - to establish uniform eligibility criteria for Company profit sharing and matching contributions; - 4 - NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) - - to change the automatic enrollment date for elective salary deferrals from the first of the month after three months of employment to the first of the month after the first anniversary of the employee's employment commencement date; - - to increase the maximum elective salary deferral percentage for non-highly compensated employees to 50% from 15% of eligible Plan compensation; and - - to change the timing and availability rules for in-service distributions and hardship withdrawals. Along with these design changes, effective January 1, 2004, the Plan's name was formally changed to the Nordstrom 401(k) Plan & Profit Sharing. The Plan was previously known as the Nordstrom Profit Sharing and 401(k) Retirement Plan. Plan Contributions- Profit Sharing Contributions-The Company's Board of Directors establishes the Company profit sharing contribution, if any, each year. The Board of Directors has complete discretion in determining the amount of the profit sharing contribution. Profit sharing contributions are invested in participant-directed investments or defaulted into the Nordstrom Select Moderate Fund (the General Balanced Fund in 2004). The Company's contribution for each Plan year is allocated based on a weighting of years of service and eligible compensation among the actively employed participants who qualify for a profit sharing contribution. For Plan purposes, eligible compensation generally includes salary and wages paid for employee service, including bonuses and commissions and excludes reimbursements and expense allowances, employee awards, fringe and welfare benefits, moving expenses, severance and disability pay, contributions to a nonqualified deferred compensation program and amounts received as stock or under any stock-based compensation program, and is capped by limits set under the Internal Revenue Code ($210 for the Plan Year ended December 31, 2005); participants should refer to the Plan document for specific details. Employee 401(k) Contributions-Non-Highly Compensated Employees (NHCEs) may elect to defer 1% to 50% of eligible compensation on a pretax basis. The maximum elective salary deferral percentage for Highly Compensated Employees (HCEs) is 15%. Employees age 50 and over are allowed a catch-up contribution on a pre-tax basis. For all employees, the Internal Revenue Service (IRS) limits participant contributions to a maximum of $14 in 2005. Company Matching Contributions-The Company's matching contribution consists of a match of 100% of eligible participants' elective contributions up to 4% of the participants' eligible compensation. Investment Programs-Participants are able to direct their accounts (including Company matching contributions) within any of the available funds, which are listed in the accompanying Schedule of Assets Held for Investment Purposes. Participation in Investment Activity-Individual accounts are credited daily with a pro rata share of investment income (loss) experienced by the respective Plan funds into which their account balances have been directed. - 5 - NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) Vesting in the Plan- Employees who terminate employment due to retirement, death, or disability are 100% vested in their Plan accounts, regardless of years of service. For purposes of the Plan, "retirement" is defined as ending employment at age 60 or older. On termination of employment for reasons other than retirement, disability, or death, the amounts credited to the accounts of participants are vested as follows: Company Profit Sharing Contributions-Participants are 100% vested in Company profit sharing contributions attributable to years of service on and after January 1, 2000. For contributions received prior to January 1, 2000, participants are vested 20% after completing three years of service and will be credited with an additional 20% vesting for each additional year of service (1,000 hours of service in a payroll calendar year) until 100% vested at seven years. Employee Contributions-Employee contributions (i.e., salary deferral, catch-up and rollover contributions) are always 100% vested. Company Matching Contributions-Company matching contributions for employees hired prior to January 1, 2000, are 100% vested. Company matching contributions for employees whose first hour of service with the Company occurred on or after January 1, 2000 vest as follows: 33% after completing one year of service and 67% after two years of years of service. After three years of service, all Company matching contributions are 100% vested. Forfeitures-Forfeitures are used to offset future Company matching contributions and, to the extent any forfeitures remain, to offset future Company profit sharing contributions. During the years ended December 31, 2005 and 2004, employer contributions were offset by forfeitures of $1,436, and $2,357, respectively. Benefits-On termination of service, a participant (or participant's beneficiary in the case of death) may elect to receive the value of the vested interest in his or her account as a lump-sum distribution or, if the vested account balance excluding the rollover account exceeds $1, elect to remain in the plan. When an active participant reaches age 59 1/2 and continues to work for the Company, the participant is eligible to receive a partial or full distribution of his or her retirement benefits. Payment of Benefits-Benefits are recorded when paid. Participant Loans-Participants may borrow from their fund accounts a minimum of $1 up to a maximum equal to the lesser of $50 or 50% of their vested account balance. Loan terms are a maximum of 60 months or up to 20 years for the purchase of the principal residence of a participant. The loans are secured by the balance in the participant's account and bear fixed interest at rates commensurate with prevailing rates but not less than 1% over the then current prime rate as published by the Wall Street Journal. Interest rates for participant loans outstanding at December 31, 2005 range from 5.0% to 10.5% and are determined at the time the loan is approved. Principal and interest are paid semi-monthly through payroll deductions. Participants may pay monthly upon termination or leave of absence. Payment obligations are suspended for participants during periods of qualified military service. No more than two loans may be outstanding at any one time. - 6 - NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) Trustees and Administrator of the Plan-The asset trustees of the Plan are Mercer Trust Company (all assets except the Nordstrom Select Funds) and Mellon Bank, N.A. (Mellon) (Nordstrom Select Funds only). Wells Fargo Bank, N.A. (Wells Fargo), served as the Trustee and Custodian for the Plan's General Balanced Fund through March 31, 2005, at which time the Plan transitioned those services to Mellon. Coinciding with the transition of trustee services to Mellon, the name of the General Balanced Fund was changed to the Nordstrom Select Moderate Fund. Additionally, two new funds called the Nordstrom Select Conservative Fund and Nordstrom Select Growth Fund, were created. These funds invest in the same underlying assets as the Select Moderate Fund, but have different allocations to create varying risk/return profiles. Beginning on April 1, 2005, Mellon serves as the Trustee and Custodian for the Nordstrom Select Funds. Putnam Fiduciary Trust Company provided administrative services to the Plan for the year ended December 31, 2004 and through March 31, 2005. In 2005, Putnam's recordkeeping business was spun off to create Mercer Human Resource Consulting, LLC. Under that company, Mercer Human Resource Services provided administrative services and Mercer Trust Company served as asset trustee to the Plan (for all assets except the Nordstrom Select Funds) for the year ended December 31, 2005. Termination of the Plan-The Company reserves the right to suspend, discontinue, or terminate the Plan at any time. The Company may determine whether a suspension or discontinuance will or will not constitute termination of the Plan. In the event the Plan is terminated, the respective accounts of the participants under the Plan shall become fully vested and nonforfeitable. After payment of expenses properly chargeable against the Plan, the trustees shall distribute all Plan assets to the participants in the proportions determined by their respective accounts. Tax Status-The IRS has determined and informed the Company by a letter dated October 4, 2004, that the Plan is designed in conformity with the applicable requirements of the Internal Revenue Code. - 7 -
The Plan is administered by the Company in conjunction with the Retirement Committee, a committee appointed by the Company's Board of Directors comprised of the following individuals as of December 31, 2005: - - Mary D. Amundson Divisional Vice President of Employee Benefits - - D. Wayne Gittinger Former Director of the Company and Partner, Lane Powell PC (a law firm) - - Michael G. Koppel Executive Vice President and Chief Financial Officer - - Llynn (Len) A. Kuntz Executive Vice President, Northwest Regional Manager, Full-Line Stores - - Bruce A. Nordstrom Chairman of the Board of Directors - - Delena M. Sunday Executive Vice President, Human Resources and Diversity Affairs NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) In a prior year, the Company identified some minor administrative issues with respect to the Plan and has worked to correct such issues through one of the IRS's voluntary correction programs. The IRS accepted the Company's proposed correction in August of 2004. The IRS approved corrections were completed in January of 2005 and the issue is now resolved. Basis of Accounting-The accompanying financial statements have been prepared on the accrual basis of accounting. Other Assets-Prior to 1993, after five years in the Plan, participants were allowed to purchase life insurance with up to 25% of their annual contributions. This option was terminated in May 1992; however, the Plan still holds previously purchased life insurance for participants. This amount represents the cash surrender value of the New England Life Insurance policy. Investment Income-Purchases and sales of securities are recorded on a trade- date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net unrealized and realized investment gains and losses are calculated based upon the fair value at the beginning of the year of investments held at that date and the cost of investments purchased during the year. Benefits Payable-Benefits payable to participants who have withdrawn from participation in the Plan as of December 31, 2005 and 2004, were $162 and $566, respectively. 2. INVESTMENTS The Plan's investments are held by the trustees and are recorded at fair value based on quoted market prices at December 31, 2005 and 2004, except for the Putnam Stable Value Fund, which is a fully benefit responsive guaranteed investment contract fund and is recorded at contract value, which approximates fair value. The following table presents the value of investments that represent 5% or more of the Plan's net assets recorded at December 31: - 8 -
2005 2004 ---------- ---------- Investments at fair value: Nordstrom Select Moderate Fund $428,711 * General Balanced Fund * $418,901 Nordstrom, Inc. common stock 222,041 135,777 EuroPacific Growth Fund 143,031 112,167 George Putnam Fund of Boston 117,866 110,676 Dodge & Cox Stock Fund 92,349 ** Putnam Fund for Growth and Income ** 84,635 Bank of New York Small Cap Growth *** 77,644 Investment at contract value: Putnam Stable Value Fund 95,797 90,390 NORDSTROM 401(k) PLAN & PROFIT SHARING NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 (dollar amounts in thousands) * Coinciding with the transition of trustee services to Mellon on April 1, 2005, the name of the General Balanced Fund was changed to the Nordstrom Select Moderate Fund. ** Fund was not part of the Plan's investment portfolio. *** Fund balance does not exceed 5% of Plan net assets. During 2005 and 2004, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated/(depreciated) in value as follows: The Putnam Stable Value Fund is a fully benefit responsive, guaranteed investment contract fund. The contract is included in these financial statements at contract value, which approximates fair value, as reported to the Plan by Mercer Trust Company. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The average yield was approximately 4.7% for 2005 and 4.5% for 2004. The weighted average crediting interest rate was approximately 4.7% at December 31, 2005 and 4.5% at December 31, 2004. 3. RELATED PARTY TRANSACTIONS Wells Fargo Bank was trustee of the Plan's General Balanced Fund through March 31, 2005. Mellon Bank, N.A. has been trustee of the Nordstrom Select Funds since April 1, 2005. Putnam Fiduciary Trust Company was trustee of all assets of the Plan other than the General Balanced Trust Fund from January 2004 to December 2004. Effective January 1, 2005, Putnam Fiduciary Trust Company changed its name to Mercer Trust Company and has been trustee of all assets of the Plan other than the Nordstrom Select Funds since that date. Accordingly, Mercer Trust Company, Wells Fargo Bank, and Putnam Fiduciary Trust Company are each a party-in-interest with respect to the Plan. The Plan has invested in investment funds managed by Wells Fargo Bank and by affiliates of Mercer Trust Company and Putnam Fiduciary Trust Company during 2005 and 2004. Transactions in these investments qualify as exempt party-in-interest transactions because an independent fiduciary causes the Plan to make these investment decisions. Fees paid by the Plan to Wells Fargo Bank, Mellon Bank, Mercer Trust Company, and Putnam Fiduciary Trust Company amounted to $166, $102, $591, and $204, respectively, for 2005. Fees paid by the Plan to Wells Fargo Bank and Putnam Fiduciary Trust Company amounted to $253 and $732, respectively, for 2004. As the Plan sponsor, the Company is a party-in-interest with respect to the Plan. The Company's employer contributions to the plan qualify as party-in- interest transactions. These transactions are exempt party-in-interest transactions because a fiduciary does not cause the Plan to participate in the transactions. In addition, miscellaneous reimbursement of direct expenses paid by the Plan - 9 -
2005 2004 ---------- ---------- Investments Common stock $ 82,853 $ 36,741 Mutual funds/Proprietary plan fund 59,269 71,373 Common/collective trust 89 4,371 Brokerage assets (244) 578 ---------- ---------- $141,967 $113,063 ========== ========== to the Company for Plan operations and administration amounted to $26 and $72 for 2005 and 2004, respectively. 4. EXCESS CONTRIBUTIONS PAYABLE TO PARTICIPANTS The Plan is subject to certain compliance requirements of non-discrimination rules under ERISA and IRS guidelines. For the Plan year ended December 31, 2005, the Plan failed certain of these non-discrimination tests due to lower levels of contribution participation by non-highly compensated eligible Plan participants. In order to meet the compliance requirements, in March 2006, the Plan refunded a portion of the 2005 contributions made by highly compensated participants. The refund totaled $761 and is recorded as "Excess contributions payable to participants" in the December 31, 2005 Statement of Net Assets Available for Benefits. The refund is included in "Benefit payments to participants" on the Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2005. The refund amount includes approximately $117 of investment earnings. 5. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 The following is a reconciliation of net assets available for benefits per the financial statements to the amounts reflected in the Form 5500 as filed by the Company with the Employee Benefits Security Administration as of December 31: - 10 -
2005 2004 ---------- ---------- Net assets available for benefits per the financial statements $1,529,151 $1,325,280 Trustee and administrative fees payable 463 602 Certain deemed distributions of participant loans - (595) ---------- ---------- Net assets available for benefits per Form 5500 $1,529,614 $1,325,287 ========== ========== - 16 -
NORDSTROM 401(k) PLAN & PROFIT SHARING SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 2005 (dollar amounts in thousands) Identity of issue, Description of investment Current borrower, lessor including maturity date, Value or similar party rate of interest, collateral, par, or maturity value - ------------------------------------------------------------------------------------- * Party-in-interest * Nordstrom, Inc. Nordstrom Stock Fund Common stock $ 222,041 American Funds American Funds Europacific Growth Mutual fund 143,031 * Putnam Investments George Putnam Fund Mutual fund 117,866 * Putnam Investments Putnam Stable Value Fund Common/collective Trust 95,797 Dodge & Cox Dodge & Cox Stock Fund Mutual fund 92,349 Neuberger & Berman Small Cap NBF Genesis Mutual fund 75,407 The Bank of New York BONY Hamilton Small Cap Growth Mutual fund 74,782 Vanguard Vanguard Institutional Index Fund Mutual fund 54,912 Allianz Global Investors PIMCO RCM Large Cap Growth Fund Mutual fund 44,479 PIMCO PIMCO Total Return Fund Mutual fund 38,688 Self-directed brokerage Brokerage Securities Brokerage assets 8,312 * Putnam Investments SDB Money Market Fund Money Market 1,320 * Putnam Investments Pending cash account 40 * Participant Loans 57,163 Nordstrom Select Funds (Including Nordstrom Select Conservative, Nordstrom Select Moderate, and Nordstrom Select Growth Funds) PIMCO PIMCO Total Return Fund Mutual fund 81,877 Dodge & Cox Dodge & Cox Income Fund Mutual fund 81,812 Dodge & Cox Dodge & Cox Stock Fund Mutual fund 44,703 Frank Russell Frank Russell Equity II Fund Mutual fund 22,111 Neuberger & Berman Neuberger Berman Genesis Institutional Mutual fund 11,245 Capital Guardian Capital Guardian Common/collective International trust 72,228 Capital Guardian Capital Guardian Common/collective US Equity trust 65,391 The Boston Company Pooled Employee Daily Common/collective Liquidity Fund trust 1,789 - 11 - A C Moore Arts & A C Moore Arts & Crafts, Inc. Crafts, Inc. Common stock 182 Abbott Labs Abbott Labs Common stock 446 Acuity Brands, Inc. Acuity Brands, Inc. Common stock 24 Aetna, Inc. Aetna, Inc. Common stock 820 AFLAC, Inc. AFLAC, Inc. Common stock 529 Airgas, Inc. Airgas, Inc. Common stock 71 American Healthways, Inc. American Healthways, Inc. Common stock 158 American International American International Group, Inc. Group, Inc. Common stock 962 American Medical American Medical Systems Holdings, Inc. Systems Holdings, Inc. Common stock 86 Amylin Amylin Pharmaceuticals, Inc. Pharmaceuticals, Inc. Common stock 78 Anntaylor Stores Corp. Anntaylor Stores Corp. Common stock 145 Apple Computer, Inc. Apple Computer, Inc. Common stock 965 Atwood Oceanic, Inc. Atwood Oceanic, Inc. Common stock 70 Autodesk, Inc. Autodesk, Inc. Common stock 466 Avaya, Inc. Avaya, Inc. Common stock 525 Baker Hughes, Inc. Baker Hughes, Inc. Common stock 868 BE Aerospace, Inc. BE Aerospace, Inc. Common stock 60 Blue Coat Systems, Inc. Blue Coat Systems, Inc. Common stock 93 Boeing Co. Boeing Co. Common stock 723 Boston Private Boston Private Financial Holdings, Inc. Financial Holdings, Inc. Common stock 61 Cabot Microelectronics Cabot Corp. Microelectronics Corp. Common stock 47 Canadian Natural Canadian Natural Resources, LTD Resources, LTD Common stock 718 Carnival Corporation Carnival Corporation Common stock 630 Centene Corporation Centene Corporation Common stock 95 Central Garden & Central Garden & Pet Company Pet Company Common stock 117 Charles River Laboratories Charles River Laboratories International, Inc. International, Inc. Common stock 199 Citigroup, Inc. Citigroup, Inc. Common stock 1,241 Coach, Inc. Coach, Inc. Common stock 547 Cogent, Inc. Cogent, Inc. Common stock 82 Cognizant Tech Solutions Cognizant Tech Solutions Common stock 481 Coherent, Inc. Coherent, Inc. Common stock 86 Commercial Capital Commercial Capital BanCorp, Inc. BanCorp, Inc. Common stock 40 Community Banks, Inc. Community Banks, Inc. Common stock 25 Connetics Corp. Connetics Corp. Common stock 85 Core Laboratories N V Core Laboratories N V Common stock 97 Corning, Inc. Corning, Inc. Common stock 407 Corrections Corporation Corrections Corporation of America of America Common stock 22 Costar Group, Inc. Costar Group, Inc. Common stock 190 CRA International, Inc. CRA International, Inc. Common stock 99 Cubist Pharmaceuticals, Cubist Pharmaceuticals, Inc. Inc. Common stock 40 Daktronics, Inc. Daktronics, Inc. Common stock 68 Dick's Sporting Dick's Sporting Goods, Inc. Goods, Inc. Common stock 229 - 12 - Digirad Corp. Digirad Corp. Common stock 17 Dime Community Dime Community Bancshares, Inc. Bancshares, Inc. Common stock 18 Discovery Discovery Laboratories, Inc. Laboratories, Inc. Common stock 94 Dycom Industries, Inc. Dycom Industries, Inc. Common stock 23 EBAY, Inc. EBAY, Inc. Common stock 528 Educate, Inc. Educate, Inc. Common stock 16 Education Mgmt Corp. Education Mgmt Corp. Common stock 121 EMC Corporation EMC Corporation Common stock 599 Entegris, Inc. Entegris, Inc. Common stock 62 F5 Network, Inc. F5 Network, Inc. Common stock 100 Filnet Corp. Filnet Corp. Common stock 75 Flanders Corp. Flanders Corp. Common stock 22 Flushing Financial Corp. Flushing Financial Corp. Common stock 42 Formfactor, Inc. Formfactor, Inc. Common stock 61 Forrester Research, Inc. Forrester Research, Inc. Common stock 45 Forward Air Corp. Forward Air Corp. Common stock 27 Fossil, Inc. Fossil, Inc. Common stock 99 Franklin Resources, Inc. Franklin Resources, Inc. Common stock 1,363 Gaylord Entertainment Gaylord Company Entertainment Company Common stock 109 Genentech, Inc. Genentech, Inc. Common stock 583 General Electric Company General Electric Company Common stock 1,815 Genworth Financial, Inc. Genworth Financial, Inc. Common stock 588 Gilead Sciences, Inc. Gilead Sciences, Inc. Common stock 711 Google, Inc. Google, Inc. Common stock 1,091 Grey Wolf, Inc. Grey Wolf, Inc. Common stock 82 Halliburton Co. Halliburton Co. Common stock 649 Health Net, Inc. Health Net, Inc. Common stock 478 Hercules Offshore, Inc. Hercules Offshore, Inc. Common stock 13 Hewlett Packard Co. Hewlett Packard Co. Common stock 1,033 Hexcel Corp. Hexcel Corp. Common stock 42 Hot Topic, Inc. Hot Topic, Inc. Common stock 178 IDEXX Labs, Inc. IDEXX Labs, Inc. Common stock 66 IMMUCOR, Inc. IMMUCOR, Inc. Common stock 72 IVAX Corp. IVAX Corp. Common stock 515 IXIA IXIA Common stock 101 J2 Global J2 Global Common stock 122 JC Penny Co., Inc. JC Penny Co., Inc. Common stock 645 Johnson & Johnson Johnson & Johnson Common stock 580 KFX, Inc. KFX, Inc. Common stock 87 Kronos, Inc. Kronos, Inc. Common stock 119 LEGC Corp. LEGC Corp. Common stock 22 Manhattan Assocs, Inc. Manhattan Assocs, Inc. Common stock 51 - 13 - Marinemax, Inc. Marinemax, Inc. Common stock 32 Marriott Marriott International, Inc. International, Inc. Common stock 630 Martex Biosciences Corp. Martex Biosciences Corp. Common stock 123 Marvell Technology Marvell Technology Group LTD Group LTD Common stock 830 Medtronic, Inc. Medtronic, Inc. Common stock 1,157 Merit Med Sys, Inc. Merit Med Sys, Inc. Common stock 124 Merrill Lynch & Co., Inc. Merrill Lynch & Co., Inc. Common stock 1,016 Microsoft Corp. Microsoft Corp. Common stock 981 Motorola, Inc. Motorola, Inc. Common stock 992 M-System Flash M-System Flash Disk Pioneer Disk Pioneer Common stock 40 National Financial National Financial Partners Corp. Partners Corp. Common stock 164 Nektar Therapeutics Nektar Therapeutics Common stock 54 Netgear, Inc. Netgear, Inc. Common stock 124 Neurocrine Neurocrine Biosciences, Inc. Biosciences, Inc. Common stock 80 Nike, Inc. Nike, Inc. Common stock 712 Noble Corp. Noble Corp. Common stock 432 Novartis AG Novartis AG Common stock 660 Nuvasive, Inc. Nuvasive, Inc. Common stock 82 O2Micro International LTD O2Micro International LTD Common stock 83 Oceaneering Oceaneering International, Inc. International, Inc. Common stock 114 Oracle Corporation Oracle Corporation Common stock 440 Oxford Industries, Inc. Oxford Industries, Inc. Common stock 98 Palm, Inc. Palm, Inc. Common stock 32 Pepsico, Inc. Pepsico, Inc. Common stock 1,176 Performance Food Group Performance Food Group Common stock 143 Petco Animal Supplies Petco Animal Supplies Common stock 206 PF Chang's PF Chang's China Bistro, Inc. China Bistro, Inc. Common stock 57 PFF BanCorp, Inc. PFF BanCorp, Inc. Common stock 37 Pfizer, Inc. Pfizer, Inc. Common stock 690 Phase Forward, Inc. Phase Forward, Inc. Common stock 30 Piper Jaffray Companies Piper Jaffray Companies Common stock 20 Pixar Pixar Common stock 445 Plexus Corp. Plexus Corp. Common stock 111 Prestige Brands Prestige Brands Holdings, Inc. Holdings, Inc. Common stock 198 Princeton Review, Inc. Princeton Review, Inc. Common stock 17 Proassurance Corporation Proassurance Corporation Common stock 165 Proctor & Gamble Co. Proctor & Gamble Co. Common stock 1,335 PSS World Med, Inc. PSS World Med, Inc. Common stock 72 Respironics, Inc. Respironics, Inc. Common stock 174 RF Micro Devices, Inc. RF Micro Devices, Inc. Common stock 56 RSA Security, Inc. RSA Security, Inc. Common stock 94 Sandisk Corp. Sandisk Corp. Common stock 825 - 14 - Sapient Corp. Sapient Corp. Common stock 97 Scholastic Corp. Scholastic Corp. Common stock 115 SCP Pool Corp. SCP Pool Corp. Common stock 104 Semtech Corp. Semtech Corp. Common stock 95 Shamir Optical Shamir Optical Industry, Ltd Industry, Ltd Common stock 20 Shaw Group, Inc. Shaw Group, Inc. Common stock 96 Shire PLC Shire PLC Common stock 433 Superior Energy Superior Energy Services, Inc. Services, Inc. Common stock 133 Sybron Dental Sybron Dental Specialties, Inc. Specialties, Inc. Common stock 205 Symmetry Medical, Inc. Symmetry Medical, Inc. Common stock 66 Target Corp. Target Corp. Common stock 440 Tercica, Inc. Tercica, Inc. Common stock 90 Tessera Technologies, Inc. Tessera Technologies, Inc. Common stock 131 Teva Pharmaceutical Teva Pharmaceutical Industries LTD Industries LTD Common stock 362 Texas Instruments, Inc. Texas Instruments, Inc. Common stock 208 The South Financial The South Financial Group, Inc. Group, Inc. Common stock 11 Tibco Software, Inc. Tibco Software, Inc. Common stock 104 Todco Todco Common stock 61 Trimble Navigation Ltd Trimble Navigation Ltd Common stock 135 UCBH Holdings, Inc. UCBH Holdings, Inc. Common stock 217 United Health Group, Inc. United Health Group, Inc. Common stock 910 United National, Inc. United National, Inc. Common stock 95 United Surgical Partners United Surgical Partners International, Inc. International, Inc. Common stock 124 United Technologies Corp. United Technologies Corp. Common stock 1,025 Univision Univision Common stock 431 Unova, Inc. Unova, Inc. Common stock 29 US BanCorp US BanCorp Common stock 569 UTi Worldwide, Inc. UTi Worldwide, Inc. Common stock 188 Valero Energy Corp. Valero Energy Corp. Common stock 439 VCA Antech, Inc. VCA Antech, Inc. Common stock 255 Vistcare, Inc. Vistcare, Inc. Common stock 61 Walgreen Co Walgreen Co Common stock 664 Waste Connections, Inc. Waste Connections, Inc. Common stock 52 Weatherford Weatherford International, LTD International, LTD Common stock 598 Westamerica Westamerica BanCorporation BanCorporation Common stock 21 Wilmington TR Corp. Wilmington TR Corp. Common stock 21 Wm. Wrigley Jr. Company Wm. Wrigley Jr. Company Common stock 434 Wolverine World Wide, Inc. Wolverine World Wide, Inc. Common stock 137 Wright Medical Group, Inc. Wright Medical Group, Inc. Common stock 146 Wyeth Wyeth Common stock 888 XTO Energy, Inc. XTO Energy, Inc. Common stock 874 Yahoo, Inc. Yahoo, Inc. Common stock 765 - 15 - Zimmer Holdings, Inc. Zimmer Holdings, Inc. Common stock 452 Zions BanCorp Zions BanCorp Common stock 931 Zoran Corp. Zoran Corp. Common stock 125