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Service Corporation International – ‘11-KT’ for 12/30/00

On: Thursday, 6/28/01, at 3:18pm ET · For: 12/30/00 · Accession #: 950129-1-501650 · File #: 1-06402

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 6/28/01  Service Corporation International 11-KT      12/30/00    1:13K                                    Bowne - Houston/FA

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 11-KT       Service Corporation International                      9     25K 

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SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D. C.

 FORM 11-K

( )     ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES         
EXCHANGE ACT OF 1934

 FOR THE FISCAL YEAR ENDED ___________________

or

(X)     TRANSITION REPORT PURUSANT TO SECTION 15(d) OF THE SECURITIES     
EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM JULY 1, 2000 TO DECEMBER 30, 2000

 COMMISSION FILE NUMBER 1-6402-1

 ---------------

THE SCI 401(k) RETIREMENT SAVINGS PLAN
(Full title of the plan)

 SERVICE CORPORATION INTERNATIONAL
(Name of issuer of the securities held pursuant to the plan)

1929 ALLEN PARKWAY
HOUSTON, TEXAS 77019
 (Address of the plan and address of issuer's principal executive offices)

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THE SCI 401(k) RETIREMENT SAVINGS PLAN

 INDEX

                                                                [Download Table]
                                                                                
Financial Statements                                                            

    Statement of Net Assets Available for Benefits                             3

    Statement of Changes in Net Assets Available for Benefits                  4

    Notes to Financial Statements                                              5

Supplemental Schedule                                                           

    Schedule of Assets (Held at End of Year)                                   8

Other Information                                                               

    Signature                                                                  9

 2

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THE SCI 401(k) RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS

                                                        [Enlarge/Download Table]

                                                                                     December 30, 2000
                                                                                     -----------------
                                                                                                      
Investments                                                                                           
    Pooled separate accounts........................................................     $5,211,681   
    SCI common stock................................................................        825,839   
    Participant loans...............................................................         23,021   
                                                                                         ----------   
        Total assets................................................................      6,060,541   
                                                                                         ----------   
        Net assets available for benefits...........................................     $6,060,541   
                                                                                         ==========   

See notes to consolidated financial statements.                                 

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THE SCI 401(k) RETIREMENT SAVINGS PLAN
 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

                                                        [Enlarge/Download Table]

                                                                                           Period from   
                                                                                         July 1, 2000 to 
                                                                                        December 30, 2000
                                                                                        -----------------
                                                                                                         
Additions to net assets attributed to:                                                                   
Contributions:                                                                                           
    Employer...........................................................................    $  858,025    
    Participants.......................................................................     5,403,561    
    Rollovers from other qualified plans...............................................       469,226    
                                                                                           ----------    
        Total contributions............................................................     6,730,812    
                                                                                           ----------    
Investment income:                                                                                       
    Interest income....................................................................           144    
                                                                                           ----------    
        Total investment income........................................................           144    
                                                                                           ----------    
            Total additions............................................................     6,730,956    
                                                                                           ----------    
Deductions to net assets attributed to:                                                                  
    Net depreciation in the fair value of pooled separate accounts.....................       316,424    
    Net depreciation in the fair value of Company stock................................       182,001    
    Distributions to participants......................................................       165,192    
    Administrative expenses............................................................         6,798    
                                                                                           ----------    
        Total deductions...............................................................       670,415    
                                                                                           ----------    
Net increase...........................................................................     6,060,541    

Net assets available for benefits:                                                                       
    Beginning of period................................................................            --    
                                                                                           ----------    
    End of period......................................................................    $6,060,541    
                                                                                           ==========    

See notes to consolidated financial statements.                                 

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THE SCI 401(k) RETIREMENT SAVINGS PLAN
 NOTES TO FINANCIAL STATEMENTS

1.  PLAN DESCRIPTION                                                            

GENERAL                                                                         
The following description of the SCI 401(k) Retirement Savings Plan (the Plan)  
is provided for general information purposes only. Participants should refer to 
the Summary Plan Description or the Plan Document for a more complete           
description of the Plan's provisions.                                           

The Plan, established July 1, 2000, is a defined contribution plan for the      
exclusive benefit of Service Corporation International's (SCI or the Company)   
United States employees. The Plan is subject to the provisions of the Employee  
Retirement Income Security Act of 1974 (ERISA). The Plan's assets are held by   
Massachusetts Mutual Life Insurance Company and participant accounts are        
maintained by MassMutual Retirement Services.                                   

CONTRIBUTIONS                                                                   
Eligible employees can participate in the Plan after completing three months of 
service. The election to contribute to the Plan is voluntary. Employees are     
initially enrolled in the Plan, after meeting eligibility requirements, to      
contribute 3% of pretax annual compensation, unless participation is            
specifically rejected. Participants may contribute from 1% to 15% of pretax     
annual compensation.                                                            

The Company contributes a matching amount up to 6% of the participant's pretax  
annual compensation generally in Company common stock. The percentage of the    
match is based on years of service with the Company and ranges from 75% to 135% 
of the employee's eligible contribution. Additional amounts may be contributed  
at the Company's discretion. Company contributions were made in Company stock   
during the period ended December 30, 2000.                                      

PARTICIPANT ACCOUNTS                                                            
Participant account balances are valued based upon the number of units of each  
investment fund owned by the participants. Each participant's account is        
credited with the participant's contribution and allocations of the Company's   
contributions and plan earnings or losses. Forfeited balances of terminated     
participant's non-vested accounts are used to reduce future Company             
contributions.                                                                  

VESTING                                                                         
Participants are fully vested in their deferred salary and rollover             
contributions. Participants are fully vested in Company contributions after     
completing three years of service with the Company.                             

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PARTICIPANT LOANS                                                               
Participants may borrow from their accounts up to one half of the vested account
balance to a maximum of $50,000. The minimum amount that may be borrowed is     
$1,000. Loans are to be repaid within five years, unless the loan is used to    
purchase a primary residence. The loans are secured by the balance in the       
participant's account and bear interest at 1% above the prime rate. A           
participant may have no more than two loans outstanding at any one time.        

PARTICIPANT DISTRIBUTIONS                                                       
The Plan provides for several different types of withdrawals by participants.   
Participants who have reached age 59 1/2 may make in-service withdrawals.       
Participants may make withdrawals before age 59 1/2 if they qualify for certain 
hardship withdrawals. Upon termination of service with the Company or death, the
participant or beneficiary may receive a lump-sum amount equal to the vested    
amount in the participant's account. A participant whose account balance exceeds
$5,000 may elect a deferred distribution until age 70 1/2. As of December 30,   
2000, total deferred vested benefits were $16,696.                              

PLAN TERMINATION                                                                
The Company expects the Plan to continue indefinitely, however, it reserves the 
right to terminate or amend the Plan to eliminate further benefits. If the Plan 
is terminated, participants will become 100% vested and account balances will be
distributed by a lump-sum payment.                                              

2.  SUMMARY OF ACCOUNTING POLICIES                                              

PRINCIPLES OF REPORTING                                                         
The financial statements and schedules have been prepared in accordance with    
accounting principles generally accepted in the United States and the financial 
reporting requirements of ERISA and are maintained on an accrual basis except   
for participant distributions, which are reported when paid. For purposes of    
reporting, the Plan has elected to defer an audit for the initial transition    
period since the Plan is less than seven months old.                            

USE OF ESTIMATES                                                                
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires Plan management to make        
estimates and assumptions that may affect the amounts reported in the financial 
statements and accompanying notes. As a result, actual results could differ from
those estimates.                                                                

INVESTMENTS                                                                     
Investments are stated at fair value, which is determined by quoted markets     
prices. Participant loans are valued at their outstanding balances, which       
approximates fair value.                                                        

Net appreciation (depreciation) in the fair value of the Plan investments, which
consists of net realized and unrealized appreciation (depreciation), are        
presented in the Statement of Changes in Net Assets Available for Benefits. This
appreciation (depreciation) is allocated to participants based upon their       
proportionate share of assets in each investment fund.                          

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3.  INVESTMENTS                                                                 

Investments that comprised 5% or more of the Plan's net assets available at     
December 30, 2000 are as follows:                                               

                                                        [Enlarge/Download Table]

                                                                     December 30, 2000
                                                                     -----------------
                                                                                      

JCC Balanced Fund (Janus)...........................................    $  931,030    
MassMutual Small Cap Growth Fund....................................       988,335    
MassMutual International Equity Fund................................       716,762    
MassMutual Core Bond Fund...........................................       331,543    
MassMutual Ultra Fund (American Century)............................     1,113,203    
MassMutual Large Cap Value Fund.....................................       872,575    
SCI Common Stock....................................................       825,838    

4.  INCOME TAXES                                                                

A determination letter is pending from the Internal Revenue Service declaring   
that the Plan qualifies under Section 401(a) of the Internal Revenue Code as    
exempt from income taxes. The Plan administrator believes the Plan is designed  
and being operating in compliance with the requirements of Section 401(a) of the
Internal Revenue Code.                                                          

 7

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THE SCI 401(k) RETIREMENT PLAN

SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN: 74-1488375 PIN: 002

                                                        [Enlarge/Download Table]

    Identity of issue, borrower, lessor or                                                                    
                similar party                              Description of investment             Current value
-----------------------------------------------  ----------------------------------------------  -------------
                                                                                                              
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   JCC Balanced Fund (Janus)                        $  931,030  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual Small Cap Growth Fund                    988,335  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual International Equity Fund                716,762  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual Core Bond Fund                           331,543  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual Government Money Market                  258,234  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual Ultra Fund (American Century)          1,113,203  
*Massachusetts Mutual Life                                                                                    
    Insurance Co..............................   MassMutual Large Cap Value Fund                     872,575  
*Service Corporation                                                                                          
    International.............................   SCI Common Stock                                    825,838  
*Participant Loans............................   Loans with interest rates of 10.5%                   23,021  
                                                                                                  ----------  
                                                                                                  $6,060,541  

*Denotes a party-in-interest as defined by ERISA.                               

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 SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee
(or other persons who administer the employee benefit plan) have duly caused    
this annual report to be signed by the undersigned here unto duly authorized.   

                      The SCI 401(k) Retirement Plan

Date:  June 28, 2001                By: SCI Management L.P., a Delaware         
                                      limited partnership (and administrator
            of the Plan)

                                       By: SCI Administrative Services, LLC, a
                                           Delaware limited liability company,
                           its General Partner

                    By: /s/ HELEN DUGAND
                                            ------------------------------------
                    Helen Dugand
                 President

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Dates Referenced Herein

		Referenced-On Page
This ‘11-KT’ Filing	Date	First	Last	Other Filings

Filed on:	6/28/01	9		None on these Dates
For Period End:	12/30/00	1	7
	7/1/00	1	5
				List all Filings

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Filing Submission 0000950129-01-501650 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Service Corporation International – ‘11-KT’ for 12/30/00

On: Thursday, 6/28/01, at 3:18pm ET · For: 12/30/00 · Accession #: 950129-1-501650 · File #: 1-06402

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-KFiling Table of Contents

Dates Referenced Herein

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents