PAGE
|
|
Report
of Independent Registered Public Accounting Firm
|
2
|
Financial
Statements
|
|
Statement
of Net Assets Available for Benefits at December 31, 2004 and
2003
|
3
|
Statement
of Changes in Net Assets Available for Benefits for the
year
|
|
ended December 31, 2004
|
4
|
Notes
to Financial Statements
|
5
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Supplemental
Schedule
|
|
Schedule
H, Line 4j - Schedule of Reportable Transactions for the year ended
December 31, 2004
|
|
All
other schedules required by the Employee Retirement Income Security
Act of
1974 and the
|
|
regulations
promulgated by the Department of Labor have been omitted because
they are
inapplicable
|
Unallocated
|
Allocated
|
Total
|
||||||||
Net
assets available for benefits
|
$
|
-
|
$
|
-
|
$
|
-
|
||||
Unallocated
|
Allocated
|
Total
|
||||||||
ASSETS
|
||||||||||
Common
stock of Kerr-McGee Corporation
|
$
|
14,663
|
$
|
68,766
|
$
|
83,429
|
||||
Total investments
|
14,663
|
68,766
|
83,429
|
|||||||
Dividends
receivable
|
142
|
-
|
142
|
|||||||
Interfund
contributions receivable (payable)
|
(784
|
)
|
784
|
-
|
||||||
Interfund
dividends receivable (payable)
|
(678
|
)
|
678
|
-
|
||||||
Total
assets
|
13,343
|
70,228
|
83,571
|
|||||||
LIABILITIES
|
||||||||||
Notes
payable
|
38,288
|
-
|
38,288
|
|||||||
Interest
payable
|
241
|
-
|
241
|
|||||||
Total
liabilities
|
38,529
|
-
|
38,529
|
|||||||
Net
assets (deficit) available for benefits
|
$
|
(25,186
|
)
|
$
|
70,228
|
$
|
45,042
|
Unallocated
|
Allocated
|
Total
|
||||||||
Company
contributions
|
$
|
16,571
|
$
|
-
|
$
|
16,571
|
||||
Dividend
income
|
488
|
2,605
|
3,093
|
|||||||
Interest
income
|
4
|
-
|
4
|
|||||||
Appreciation
of common stock
|
3,123
|
16,479
|
19,602
|
|||||||
Total
additions
|
20,186
|
19,084
|
39,270
|
|||||||
Interest
expense
|
2,958
|
-
|
2,958
|
|||||||
Distributions
to participants
|
-
|
12,234
|
12,234
|
|||||||
Transfers
to (from) other fund
|
10,442
|
(10,442
|
)
|
-
|
||||||
Diversification
to SIP
|
-
|
4,080
|
4,080
|
|||||||
Transfer
to SIP
|
(18,400
|
)
|
83,440
|
65,040
|
||||||
Total
deductions
|
(5,000
|
)
|
89,312
|
84,312
|
||||||
Net
increase (decrease)
|
25,186
|
(70,228
|
)
|
(45,042
|
)
|
|||||
Net
assets (deficit) available for benefits -
|
||||||||||
Beginning
of year
|
(25,186
|
)
|
70,228
|
45,042
|
||||||
End
of year
|
$
|
-
|
$
|
-
|
$
|
-
|
1.
|
Plan
Description and Basis of
Presentation
|
a) |
the
accounts of participants with vested rights in allocated stock (allocated)
and
|
b) |
the
Company’s stock not yet allocated to participants
(unallocated).
|
2.
|
Significant
Accounting Policies
|
3.
|
Investments
|
(Dollars
in thousands)
|
Unallocated
|
Allocated
|
Total
|
|||||||
Number
of Shares
|
315,397
|
1,477,339
|
1,792,736
|
|||||||
Cost
|
$
|
23,887
|
$
|
68,107
|
$
|
91,994
|
||||
Market
|
$
|
14,663
|
$
|
68,766
|
$
|
83,429
|
4.
|
Notes
Payable
|
Period
|
Principal
|
||||||
(Thousands
of dollars)
|
Installments
Due
|
Outstanding
|
|||||
9.61%
Series B notes
|
July
1998-January 2005
|
$
|
5,000
|
||||
8.43%
Oryx Series A sponsor notes
|
January
1997-July 2006
|
7,760
|
|||||
8.71%
Oryx Series B sponsor notes
|
August
2005-July 2008
|
9,856
|
|||||
8.78%
Oryx Series C sponsor notes
|
August
2008-July 2011
|
15,672
|
|||||
$
|
38,288
|
5.
|
Tax
Status
|
(h)
|
|||||||||||||||||||
(c)
|
(d)
|
(g)
|
Current
value
|
(i)
|
|||||||||||||||
(a)
|
(b)
|
Purchase
|
Selling
|
Cost
of
|
of
asset
on
|
Net
gain
|
|||||||||||||
Identity
of party involved
|
Description
of asset
|
price
|
price
|
asset
|
transaction
date
|
or
(loss)
|
|
||||||||||||
Category
(iii) - Series of transactions in excess of 5% of the Plan
assets:
|
|||||||||||||||||||
*Kerr-McGee
Corporation
|
Common
Stock
|
$
|
9,992
|
$
|
-
|
$
|
9,992
|
$
|
9,992
|
$
|
-
|
||||||||
*Kerr-McGee
Corporation
|
Common
Stock
|
$
|
-
|
$
|
17,495
|
$
|
16,116
|
$
|
17,495
|
$
|
1,379
|
||||||||
*State
Street Corporation
|
Short-term
Investments
|
$
|
9,213
|
$
|
-
|
$
|
9,213
|
$
|
9,213
|
$
|
-
|
||||||||
*State
Street Corporation
|
Short-term
Investments
|
$
|
-
|
$
|
9,213
|
$
|
9,213
|
$
|
9,213
|
$
|
-
|
By
|
(Robert
M. Wohleber)
|
|
Robert
M. Wohleber
|
||
Chairman
of the Kerr-McGee Corporation
|
||
Benefits
Committee
|
||