☒
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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For the fiscal year ended December 31, 2022
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☐
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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For the transition period from ______ to ________.
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Pages
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1 - 2
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FINANCIAL STATEMENTS:
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3
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4
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5 - 10
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SUPPLEMENTAL SCHEDULE:
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11
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2022
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2021
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|||||||
ASSETS:
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||||||||
Investments, at fair value
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$
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279,385,186
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$
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377,512,299
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||||
Receivables:
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||||||||
Notes receivable from participants
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5,370,919
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6,602,048
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||||||
Participant contributions
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272,315
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303,683
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||||||
Employer contributions
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469,888
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472,664
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||||||
Total receivables
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6,113,122
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7,378,395
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||||||
NET ASSETS AVAILABLE FOR BENEFITS
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$
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285,498,308
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$
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384,890,694
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2022
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2021
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|||||||
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
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||||||||
Investment (loss) income:
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||||||||
Net (depreciation) appreciation in fair value of investments
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$
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(67,318,162
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)
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$
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41,666,822
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Interest and dividend income
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4,682,697
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10,031,713
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||||||
Total investment (loss) income
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(62,635,465
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)
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51,698,535
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Interest income on notes receivable from participants
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241,784
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300,743
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Contributions:
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||||||||
Participants
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12,081,311
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12,804,736
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Employer
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9,476,479
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9,665,257
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Rollovers
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1,742,004
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863,407
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Total contributions
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23,299,794
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23,333,400
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Total (deductions) additions
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(39,093,887
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)
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75,332,678
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DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
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||||||||
Benefits paid to participants
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36,740,249
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48,902,500
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Administrative expenses
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205,702
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185,855
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Total deductions
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36,945,951
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49,088,355
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CHANGE IN NET ASSETS AVAILABLE
FOR BENEFITS
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(76,039,838
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)
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26,244,323
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TRANSFER OF ASSETS
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(23,352,548
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)
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(1,315,158
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)
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NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR
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384,890,694
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359,961,529
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NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR
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$
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285,498,308
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$
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384,890,694
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1. |
DESCRIPTION OF PLAN
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2. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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3. |
FAIR VALUE MEASUREMENTS
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Level 1
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Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
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Level 2
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Inputs to the valuation methodology include:
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Quoted prices for similar assets or liabilities in active markets;
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Quoted prices for identical or similar assets or liabilities in inactive markets;
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Inputs other than quoted prices that are observable for the asset or liability;
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Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
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Level 3
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Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
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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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$
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135,484,228
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$
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—
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$
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—
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$
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135,484,228
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||||||||
Employer securities
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6,156,962
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—
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—
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6,156,962
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||||||||||||
Interest-bearing cash
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759
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—
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—
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759
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||||||||||||
Self-directed investments
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9,625,758
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—
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—
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9,625,758
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||||||||||||
Total investments in the fair value hierarchy
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$
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151,267,707
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$
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—
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$
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—
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$
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151,267,707
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||||||||
Investments measured at NAV, as a practical expedient
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128,117,479
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|||||||||||||||
Investments, at fair value
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$
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279,385,186
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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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$
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190,611,053
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$
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—
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$
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—
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$
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190,611,053
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||||||||
Employer securities
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6,836,338
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—
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—
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6,836,338
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Interest-bearing cash
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922
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—
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—
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922
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Self-directed investments
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13,919,396
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—
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—
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13,919,396
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Total investments in the fair value hierarchy
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$
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211,367,709
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$
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—
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$
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—
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$
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211,367,709
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||||||||
Investments measured at NAV, as a practical expedient
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166,144,590
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Investments, at fair value
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$
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377,512,299
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December 31, 2022
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Fair Value
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Unfunded Commitments
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Redemption
Frequency (if
currently eligible)
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Redemption
Notice Period |
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Collective Trust Funds - Target Date
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$
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104,090,394
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N/A
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Daily
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10 days
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|||||
Collective Trust Funds - Income
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$
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24,027,085
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N/A
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Daily
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0 to 10 days
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December 31, 2021
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Fair Value
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Unfunded Commitments
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Redemption
Frequency (if
currently eligible)
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Redemption
Notice Period
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||||||
Collective Trust Funds - Target Date
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$
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141,343,731
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N/A
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Daily
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10 days
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|||||
Collective Trust Funds - Income
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$
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24,800,859
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N/A
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Daily
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0 to 10 days
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4. |
RELATED-PARTY TRANSACTIONS AND PARTY IN INTEREST TRANSACTIONS
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5. |
PLAN TERMINATION
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6. |
TAX STATUS
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7. |
RISKS AND UNCERTAINTIES
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(a)
Party-in-
Interest
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(b)
Identity of issuer, borrower,
lessor or similar party
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(c)
Description of investment including maturity date,
rate of interest, collateral, par or maturity value
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(e)
Current
Value
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||||
Vanguard Total Stock Market Index Fund Institutional Shares
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Mutual fund
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$
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45,831,240
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*
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Schwab Managed Retirement Trust Fund 2030 - Unit Class V
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Collective trust fund
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30,031,604
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*
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Schwab Managed Retirement Trust Fund 2040 - Unit Class V
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Collective trust fund
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24,153,192
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Galliard Retirement Income Fund CL 35
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Collective trust fund
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22,541,705
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*
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Schwab Managed Retirement Trust Fund 2050 - Unit Class V
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Collective trust fund
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21,692,860
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Dodge & Cox Stock Fund Class I
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Mutual fund
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14,136,858
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PIMCO Total Return Fund Institutional Class
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Mutual fund
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12,925,447
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Nuveen Winslow Large-Cap Growth ESG Fund Class I
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Mutual fund
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12,448,658
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T Rowe Price Mid-Cap Growth Fund
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Mutual fund
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11,275,908
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*
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Schwab Managed Retirement Trust Fund 2020 - Unit Class V
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Collective trust fund
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10,577,853
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Vanguard Total Bond Market Index Fund Institutional Shares
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Mutual fund
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9,742,601
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Personal Choice Retirement Account
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Self-directed investments
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9,625,758
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American Funds EuroPacific Growth Fund Class R-6
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Mutual fund
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6,715,671
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Vanguard Total International Stock Index Fund Institutional Shares
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Mutual fund
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6,632,659
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Columbia Small Cap Value Fund II Institutional Class
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Mutual fund
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6,178,863
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*
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EnPro Company Stock
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Employer securities
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6,156,962
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Vanguard Selected Value Fund Investor Shares
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Mutual fund
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4,562,381
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|||||
* |
Schwab Managed Retirement Trust Fund 2025 – Unit Class V
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Collective trust fund
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4,377,390
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||||
*
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Schwab Managed Retirement Trust Fund 2035 - Unit Class V
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Collective trust fund
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4,292,400
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||||
*
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Schwab Managed Retirement Trust Fund 2060 - Unit Class V
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Collective trust fund
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3,128,152
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||||
*
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Schwab Managed Retirement Trust Fund 2055 – Unit Class V
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Collective trust fund
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2,992,411
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American Beacon Stephens Small Cap Growth Fund R5 Class
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Mutual fund
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2,901,298
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|||||
Virtus Vontobel Emerging Markets Opportunities Fund Class I
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Mutual fund
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2,132,644
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|||||
*
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Schwab Managed Retirement Trust Fund 2045 - Unit Class V
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Collective trust fund
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1,857,971
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||||
*
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Schwab Managed Retirement Trust Income Fund - Unit Class V
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Collective trust fund
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1,485,380
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||||
*
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Schwab Managed Retirement Trust Fund 2010 - Unit Class V
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Collective trust fund
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843,921
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||||
*
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Schwab Managed Retirement Trust Fund 2015 - Unit Class V
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Collective trust fund
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142,640
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||||
*
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Schwab US Treasury Money Fund
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Interest-bearing cash
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759
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||||
*
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Participant loans
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Interest rates ranging from 4.25% to 8.50%
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5,370,919
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||||
$
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284,756,105
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*
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Party-in-interest transaction.
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Exhibit No.
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Document
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Consent of GreerWalker LLP
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ENPRO INDUSTRIES, INC. RETIREMENT
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SAVINGS PLAN
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By: |
ENPRO INDUSTRIES, INC., Plan Administrator
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By:
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/s/ Robert S. McLean
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Robert S. McLean
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Executive Vice President, General Counsel and Secretary
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|
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Date: June 29, 2023
|