DENTSPLY
International Inc.
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||||
401(k)
Savings Plan
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||||
Date: June
29, 2010
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/s/
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William R. Jellison
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||
William
R. Jellison
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||||
Senior
Vice President, Chief Financial Officer and
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||||
Member
of the DENTSPLY International Inc.
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||||
ESOP
and 401(k) Committee
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Page
|
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Report
of Independent Registered Public Accounting Firm
|
5
|
Financial
Statements
|
|
Statements
of Net Assets Available for Benefits
|
6
|
Statements
of Changes in Net Assets Available for Benefits
|
7
|
Notes
to Financial Statements
|
8
|
Supplementary
Schedule
|
|
Schedule
of Assets (Held at End of Year)
|
19
|
2009
|
2008
|
|||||||
Assets
|
||||||||
Cash
and cash equivalents
|
$ | 62,189 | $ | (1 | ) | |||
Investments,
at fair value:
|
||||||||
Shares
of Registered Investment Companies:
|
||||||||
Morgan
Stanley International Equity, B
|
2,966,963 | 2,231,211 | ||||||
PIMCO
Total Return Fund
|
3,251,630 | 1,821,819 | ||||||
TRP
Balanced Fund
|
4,680,017 | 3,703,482 | ||||||
TRP
Blue Chip Growth Fund
|
12,221,075 | 8,700,136 | ||||||
TRP
Equity Income Fund
|
5,911,846 | 4,500,825 | ||||||
TRP
Extended Equity Market Index
|
1,475,286 | 995,740 | ||||||
TRP
Growth Stock Fund
|
6,860,310 | 5,005,576 | ||||||
TRP
New Horizons Fund
|
3,617,473 | 2,430,912 | ||||||
TRP
Retirement Income Fund
|
173,551 | 115,534 | ||||||
TRP
Retirement 2005 Fund
|
470,018 | 236,951 | ||||||
TRP
Retirement 2010 Fund
|
2,654,920 | 1,676,203 | ||||||
TRP
Retirement 2015 Fund
|
2,603,049 | 1,558,944 | ||||||
TRP
Retirement 2020 Fund
|
4,130,823 | 2,371,867 | ||||||
TRP
Retirement 2025 Fund
|
4,604,749 | 2,585,548 | ||||||
TRP
Retirement 2030 Fund
|
5,671,440 | 3,304,503 | ||||||
TRP
Retirement 2035 Fund
|
5,430,852 | 2,495,438 | ||||||
TRP
Retirement 2040 Fund
|
4,794,066 | 2,546,819 | ||||||
TRP
Retirement 2045 Fund
|
1,888,553 | 761,243 | ||||||
TRP
Retirement 2050 Fund
|
463,382 | 119,786 | ||||||
TRP
Retirement 2055 Fund
|
217,774 | 77,708 | ||||||
TRP
Science & Technology Fund
|
2,010,822 | 911,408 | ||||||
TRP
Spectrum Income Fund
|
3,170,328 | 2,398,818 | ||||||
TRP
Summit Cash Reserves
|
7,112,361 | 7,841,850 | ||||||
Shares
of Common Trusts:
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||||||||
TRP
Equity Index Trust
|
5,627,671 | 4,366,141 | ||||||
Common
Stock:
|
||||||||
DENTSPLY
International Inc. Common Stock
|
14,774,713 | 11,598,016 | ||||||
Participant
loans
|
2,730,437 | 2,384,892 | ||||||
109,514,109 | 76,741,373 | |||||||
Receivables:
|
||||||||
5,273,500 | 4,985,205 | |||||||
Participants’
contributions
|
329,963 | 347,268 | ||||||
Total
Receivables
|
5,603,463 | 5,332,473 | ||||||
Payables:
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||||||||
Refund
of Excess Contributions
|
(671 | ) | - | |||||
$ | 115,179,090 | $ | 82,073,845 |
2009
|
2008
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|||||||
Investment
Income (Loss)
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||||||||
Net
appreciation (depreciation) in fair value of investments
|
$ | 23,400,767 | $ | (39,608,305 | ) | |||
Interest
and dividends
|
1,558,510 | 2,796,836 | ||||||
24,959,277 | (36,811,469 | ) | ||||||
Contributions
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||||||||
Employer
|
5,273,500 | 4,985,205 | ||||||
Participants
|
9,360,736 | 9,524,677 | ||||||
Participant
rollovers
|
343,575 | 2,051,304 | ||||||
14,977,811 | 16,561,186 | |||||||
(6,815,946 | ) | (6,931,726 | ) | |||||
(15,897 | ) | (10,744 | ) | |||||
33,105,245 | (27,192,753 | ) | ||||||
82,073,845 | 109,266,598 | |||||||
Net
Assets Available for Benefits - End of Year
|
$ | 115,179,090 | $ | 82,073,845 |
Before
2007
|
After
2006
|
|||||||
Years of Service
|
Percent Vested
|
Percent Vested
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||||||
Less
than 2
|
0 | % | 0 | % | ||||
Less
than 3
|
0 | 20 | ||||||
3
|
20 | 40 | ||||||
4
|
40 | 60 | ||||||
5
|
60 | 80 | ||||||
6
|
80 | 100 | ||||||
7
years and after
|
100 | 100 |
Level
1
|
Inputs
to the valuation methodology are unadjusted quoted price for identical
assets or liabilities in active markets that the Plan has the ability to
access.
|
Level
2
|
Inputs
to the valuation methodology
include:
|
|
·
|
Quoted
prices for similar assets or liabilities in active
markets;
|
|
·
|
Quoted
prices for identical or similar assets or liabilities in inactive
markets;
|
|
·
|
Inputs
other than quoted prices that are observable for the asset or
liability;
|
|
·
|
Inputs
that are derived principally from or corroborated by observable market
data by correlation or other means.
|
Level
3
|
Inputs
to the valuation methodology are unobservable and significant to the fair
value measurement.
|
Assets at Fair Value as of December 31,
2009
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||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
|
|||||||||||||
Mutual
Funds:
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||||||||||||||||
Index
Funds
|
$ | 1,475,286 | $ | - | $ | - | $ | 1,475,286 | ||||||||
Balanced
Funds
|
4,680,017 | - | - | 4,680,017 | ||||||||||||
Growth
Funds - Domestic
|
24,709,680 | - | - | 24,709,680 | ||||||||||||
Target
Date Funds
|
33,103,177 | - | - | 33,103,177 | ||||||||||||
International
Equity Fund
|
2,966,963 | - | - | 2,966,963 | ||||||||||||
Value
Fund
|
5,911,846 | - | - | 5,911,846 | ||||||||||||
Fixed
Income Fund
|
6,421,958 | - | - | 6,421,958 | ||||||||||||
Money
Market Fund
|
7,112,361 | - | - | 7,112,361 | ||||||||||||
Total
Mutual Funds
|
86,381,288 | - | - | 86,381,288 | ||||||||||||
Common
Stock:
|
||||||||||||||||
Healthcare
- DENTSPLY Int'l Inc. Common Stock
|
14,774,713 | - | - | 14,774,713 | ||||||||||||
Total
Common Stock
|
14,774,713 | - | - | 14,774,713 | ||||||||||||
Common
Trust:
|
||||||||||||||||
Index
Funds
|
- | 5,627,671 | - | 5,627,671 | ||||||||||||
Total
Common Trust
|
- | 5,627,671 | - | 5,627,671 | ||||||||||||
Participant
Loans
|
- | - | 2,730,437 | 2,730,437 | ||||||||||||
Total
assets at fair value
|
$ | 101,156,001 | $ | 5,627,671 | $ | 2,730,437 | $ | 109,514,109 | ||||||||
Assets at Fair Value as of December 31,
2008
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||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
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|||||||||||||
Mutual
Funds:
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||||||||||||||||
Index
Funds
|
$ | 995,740 | $ | - | $ | - | $ | 995,740 | ||||||||
Balanced
Funds
|
3,703,482 | - | - | 3,703,482 | ||||||||||||
Growth
Funds - Domestic
|
17,048,033 | - | - | 17,048,033 | ||||||||||||
Target
Date Funds
|
17,850,546 | - | - | 17,850,546 | ||||||||||||
International
Equity Fund
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2,231,211 | - | - | 2,231,211 | ||||||||||||
Value
Fund
|
4,500,825 | - | - | 4,500,825 | ||||||||||||
Fixed
Income Fund
|
4,220,637 | - | - | 4,220,637 | ||||||||||||
Money
Market Fund
|
7,841,850 | - | - | 7,841,850 | ||||||||||||
Total
Mutual Funds
|
58,392,324 | - | - | 58,392,324 | ||||||||||||
Common
Stock:
|
||||||||||||||||
Healthcare
- DENTSPLY Int'l Inc. Common Stock
|
11,598,016 | - | - | 11,598,016 | ||||||||||||
Total
Common Stock
|
11,598,016 | - | - | 11,598,016 | ||||||||||||
Common
Trust:
|
||||||||||||||||
Index
Funds
|
- | 4,366,141 | - | 4,366,141 | ||||||||||||
Total
Common Trust
|
- | 4,366,141 | - | 4,366,141 | ||||||||||||
Participant
Loans
|
- | - | 2,384,892 | 2,384,892 | ||||||||||||
Total
assets at fair value
|
$ | 69,990,340 | $ | 4,366,141 | $ | 2,384,892 | $ | 76,741,373 |
Level 3 Assets Year Ended December 31,
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||||||||
2009
|
2008
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|||||||
Participant loans
|
Participant loans
|
|||||||
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Balance, beginning of year | $ | 2,384,892 | $ | 2,325,279 | ||||
Purchases,
sales, issuances and settlements (net)
|
345,545 | 59,613 | ||||||
Balance,
end of year
|
$ | 2,730,437 | $ | 2,384,892 |
Investments
|
2009
|
2008
|
||||||
At
Fair Value as Determined by Quoted Market Prices:
|
||||||||
Shares
of Registered Investment Companies:
|
||||||||
TRP
Blue Chip Growth Fund
|
$ | 12,221,075 | $ | 8,700,136 | ||||
TRP
Equity Income Fund
|
5,911,846 | 4,500,825 | ||||||
TRP
Growth Stock Fund
|
6,860,310 | 5,005,577 | ||||||
TRP
Summit Cash Reserves
|
7,112,361 | 7,841,850 | ||||||
Other
Registered Investment Companies
|
54,275,696 | 32,343,936 | ||||||
Shares
of Common Stock:
|
||||||||
DENTSPLY
International Inc. Common Stock
|
14,774,713 | 11,598,016 | ||||||
At
Estimated Fair Value:
|
||||||||
Shares
of Common Trust:
|
||||||||
TRP
Equity Index Trust
|
5,627,671 | * | 4,366,141 | |||||
Participant
loans
|
2,730,437 | * | 2,384,892 | * | ||||
$ | 109,514,109 | $ | 76,741,373 |
2009
|
2008
|
|||||||
Investments
Whose Fair Values Have Been Measured by Quoted Prices in an Active
Market:
|
||||||||
Mutual
funds
|
$ | 19,215,400 | $ | (30,315,994 | ) | |||
Common
stock
|
2,991,315 | (6,614,262 | ) | |||||
Investments
Whose Fair Values Have Been Otherwise Determined:
|
||||||||
Common/collective
trust fund
|
1,194,052 | (2,678,049 | ) | |||||
$ | 23,400,767 | $ | (39,608,305 | ) |
2009
|
2008
|
|||||||
Net
assets available for benefits per the financial statement
|
$ | 115,179,090 | $ | 82,073,845 | ||||
Amount
allocated to withdrawing participants
|
- | (245 | ) | |||||
Net
assets available for benefits per the Form 5500
|
$ | 115,179,090 | $ | 82,073,600 |
2009
|
2008
|
|||||||
Benefits
paid to participants per the financial statements
|
$ | 6,815,946 | $ | 6,931,726 | ||||
Amount
allocated to withdrawing participants - current year
|
- | 245 | ||||||
Amount
allocated to withdrawing participants - prior year
|
(245 | ) | (1,532 | ) | ||||
Benefits
paid to participants per the Form 5500
|
$ | 6,815,701 | $ | 6,930,439 |
(c)
|
(d)
|
(e)
|
||||||||||
(b)
|
Description
of
|
*
*
|
Current
|
|||||||||
(a)
|
Identity
of issue
|
investment
|
Cost
|
Value
|
||||||||
Assets
|
||||||||||||
Cash
and cash equivalents
|
$ | 62,189 | ||||||||||
Investments,
at fair value:
|
||||||||||||
Morgan
Stanley International Equity, B
|
Mutual
Fund
|
N/A | 2,966,963 | |||||||||
PIMCO
Total Return Fund
|
Mutual
Fund
|
N/A | 3,251,630 | |||||||||
*
|
TRP
Balanced Fund
|
Mutual
Fund
|
N/A | 4,680,017 | ||||||||
*
|
TRP
Blue Chip Growth Fund
|
Mutual
Fund
|
N/A | 12,221,075 | ||||||||
*
|
TRP
Equity Income Fund
|
Mutual
Fund
|
N/A | 5,911,846 | ||||||||
*
|
TRP
Extended Equity Market Index
|
Mutual
Fund
|
N/A | 1,475,286 | ||||||||
*
|
TRP
Growth Stock Fund
|
Mutual
Fund
|
N/A | 6,860,310 | ||||||||
*
|
TRP
New Horizons Fund
|
Mutual
Fund
|
N/A | 3,617,473 | ||||||||
*
|
TRP
Retirement Income Fund
|
Mutual
Fund
|
N/A | 173,551 | ||||||||
*
|
TRP
Retirement 2005 Fund
|
Mutual
Fund
|
N/A | 470,018 | ||||||||
*
|
TRP
Retirement 2010 Fund
|
Mutual
Fund
|
N/A | 2,654,920 | ||||||||
*
|
TRP
Retirement 2015 Fund
|
Mutual
Fund
|
N/A | 2,603,049 | ||||||||
*
|
TRP
Retirement 2020 Fund
|
Mutual
Fund
|
N/A | 4,130,823 | ||||||||
*
|
TRP
Retirement 2025 Fund
|
Mutual
Fund
|
N/A | 4,604,749 | ||||||||
*
|
TRP
Retirement 2030 Fund
|
Mutual
Fund
|
N/A | 5,671,440 | ||||||||
*
|
TRP
Retirement 2035 Fund
|
Mutual
Fund
|
N/A | 5,430,852 | ||||||||
*
|
TRP
Retirement 2040 Fund
|
Mutual
Fund
|
N/A | 4,794,066 | ||||||||
*
|
TRP
Retirement 2045 Fund
|
Mutual
Fund
|
N/A | 1,888,553 | ||||||||
*
|
TRP
Retirement 2050 Fund
|
Mutual
Fund
|
N/A | 463,382 | ||||||||
*
|
TRP
Retirement 2055 Fund
|
Mutual
Fund
|
N/A | 217,774 | ||||||||
*
|
TRP
Science & Technology Fund
|
Mutual
Fund
|
N/A | 2,010,822 | ||||||||
*
|
TRP
Spectrum Income Fund
|
Mutual
Fund
|
N/A | 3,170,328 | ||||||||
*
|
TRP
Summit Cash Reserves
|
Mutual
Fund
|
N/A | 7,112,361 | ||||||||
*
|
TRP
Equity Index Trust
|
Common
Trust
|
N/A | 5,627,671 | ||||||||
*
|
DENTSPLY
International Inc. common stock
|
Common
Stock
|
N/A | 14,774,713 | ||||||||
*
|
Participant
loans
|
4.25%
- 10.5%
|
0 | 2,730,437 | ||||||||
Total
Investments
|
$ | 109,576,298 | ||||||||||
*
|
Party-in-interest
|
|||||||||||
*
*
|
Historical
cost has not been presented since all investments are
participant-directed.
|