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
Commission file number: 001-14901
| A. | Full title of the plan and the address of the plan, if different from that of issuer named below: |
Consol Energy Inc. Investment Plan for Salaried Employees
| B. | Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
Consol Energy Inc.
1800 Washington Road
Pittsburgh, Pennsylvania 15241
Registrant’s telephone number including area code: 412-831-4000
Investment Plan for
Salaried Employees
Index
December 31, 2005 and 2004
| Page(s) | ||
| 1 | ||
| Financial Statements |
||
| 2 | ||
| 3 | ||
| 4-12 | ||
| Schedule H, Part IV line 4(i) Schedule of Assets Held for Investment Purposes at End of Year |
14-23 | |
| Note: | 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 (“ERISA”) of 1974 have been omitted because they are not applicable. |
| 24 |
Exhibit 23 – Consent of Independent Registered Public Accounting Firm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Trustees, Investment Plan Committee, and Participants of
CONSOL Energy Inc. Investment Plan for Salaried Employees
We have audited the accompanying statements of net assets available for benefits of CONSOL Energy Inc. Investment Plan for Salaried Employees (the “Plan”) as of December 31, 2005 and 2004, and the related statement of changes in net assets available for benefits for the year ended December 31, 2005. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes 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, the financial statements referred to above 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 year ended December 31, 2005 in conformity with U.S. generally accepted accounting principles.
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 at End of Year 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’s management. The 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/ McCRORY & McDOWELL LLC
Pittsburgh, Pennsylvania
June 16, 2006
1
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Statements of Net Assets Available for Benefits
| (in thousands of dollars)
|
December 31 | |||||
| 2005 | 2004 | |||||
| ASSETS |
||||||
| Investment at Contract Value |
||||||
| Stable Value Fund |
$ | 585,311 | $ | 574,670 | ||
| Investments at Fair Value |
||||||
| Interests in Registered Investment Companies |
182,646 | 165,062 | ||||
| Merrill Lynch Equity Index Trust |
45,788 | 46,291 | ||||
| E.I. DuPont de Nemours & Company Common Stock |
99,920 | 140,426 | ||||
| CONSOL Stock Fund |
111,495 | 72,186 | ||||
| Daimler Chrysler AG Common Stock |
97 | 103 | ||||
| Participant Loans |
13,864 | 14,449 | ||||
| 453,810 | 438,517 | |||||
| Total Investments |
1,039,121 | 1,013,187 | ||||
| Receivables |
||||||
| Due from Broker for Securities Sold |
163 | 224 | ||||
| Accrued Interest and Dividends |
21 | 7 | ||||
| 184 | 231 | |||||
| Cash |
503 | 78 | ||||
| Total Assets |
1,039,808 | 1,013,496 | ||||
| LIABILITIES |
||||||
| Accrued Expenses |
177 | 0 | ||||
| NET ASSETS AVAILABLE FOR BENEFITS |
$ | 1,039,631 | $ | 1,013,496 | ||
The accompanying notes are an integral part of these financial statements.
2
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Statement of Changes in Net Assets Available for Benefits
| (in thousands of dollars)
|
For the Year Ended December 31, 2005 | ||
| Additions to Net Assets Attributable to: |
|||
| Contributions: |
|||
| Participants – Contributions |
$ | 22,298 | |
| Participants – Rollovers |
18,433 | ||
| Employer |
12,220 | ||
| 52,951 | |||
| Investment Income: |
|||
| Interest and Dividends |
17,111 | ||
| Net Appreciation in Fair Value of Investments |
53,812 | ||
| 70,923 | |||
| Total Additions |
123,874 | ||
| Deductions from Net Assets Attributed to: |
|||
| Benefits Paid to Participants |
97,736 | ||
| Administrative Expense |
3 | ||
| Total Deductions |
97,739 | ||
| Net Additions |
26,135 | ||
| Net Assets Available for Benefits |
|||
| Beginning of Year |
1,013,496 | ||
| END OF YEAR |
$ | 1,039,631 | |
The accompanying notes are an integral part of these financial statements.
3
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 1. | DESCRIPTION OF PLAN |
The following brief description of the CONSOL Energy Inc. Investment Plan for Salaried Employees (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.
General – The Plan is a defined contribution plan established in 1953. Salaried, operations and maintenance and, in certain circumstances, production and maintenance, and warehouse and maintenance employees of CONSOL Energy Inc. and participating employers (“CONSOL Energy” or the “Company”) are eligible to participate in the Plan on the first of the month following the start of regular full-time employment. In addition, temporary employees are eligible to participate in the Plan upon completion of a period of 12 consecutive months, commencing upon their employment date or anniversary date thereof, during which the employee completes 1,000 or more hours of service. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).
The Plan offers CONSOL Energy common stock (“CONSOL Stock Fund”) as an investment option. The CONSOL Stock Fund investment option is an Employee Stock Ownership Plan (“ESOP”), whereby participants in the plan will be given the opportunity to elect to receive cash for dividends declared on CONSOL Energy stock. If a participant does not make an election, the dividends will be reinvested in the CONSOL Stock Fund.
Contributions – During the year 2005 participants could, with certain restrictions, contribute a maximum of 44% of monthly base pay to the Plan exclusive of supplemental make-up deposits. CONSOL Energy and certain participating employers match these contributions, dollar for dollar, up to 6% of base pay (as defined by the Plan). Contributions made by employees of Fairmont Supply Company, one of the participating employers qualified as a separate line of business are matched fifty cents on every dollar up to 12% of base pay. The employer and employee contributions may not exceed $42,000 and $41,000 for the years 2005 and 2004, respectively. Contributions may be made with before-tax or after-tax dollars. In addition, subject to certain limitations, a participant is allowed to make lump-sum savings deposits in cash to the Plan. For the year ended December 31, 2004, the Plan was amended for full-time employees hired or rehired on or after August 1, 2004. For these employees, CONSOL Energy and certain participating employers match participant’s contributions, dollar for dollar, up to 9% of base pay (as defined by the Plan).
4
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 1. | DESCRIPTION OF PLAN (Continued) |
Participant Accounts – Each participant’s account is credited with the participant’s contributions and allocations of the Company’s contributions and plan investment earnings and is charged with an allocation of administrative expenses and plan investment losses. Allocations are based on participant earnings or account balances, as defined. Forfeited balances of terminated participants’ nonvested accounts are either used to reduce future Company contributions or to reduce the reasonable expenses of the Plan. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.
Investment Options – Upon enrollment in the Plan, a participant may direct employee contributions in any of the funds included in the supplemental schedule of assets (held at end of year), which is attached to these financial statements, except for E.I. DuPont de Nemours & Company Common Stock, Daimler Chrysler AG Common Stock and Fidelity Low Price Stock Fund. These options are no longer available to Plan participants.
Vesting – Plan participants vest upon completion of three cumulative years of service. Participants are always 100% vested in their deposits and in the earnings on both their deposits and the Company’s contributions.
Participant Loans – Participants may borrow up to one-half of their nonforfeitable account balances subject to certain minimum and maximum loan limitations. Such loans are repayable over periods of 12 to 60 months (120 months maximum if for the purchase of a principal residence) and bear an interest rate equal to the average rate charged by selected major banks for secured personal loans. Principal and interest are paid ratably through payroll deductions.
Payment of Benefits – Participants who retire from active service may elect to defer withdrawals until April 1 of the calendar year following the year in which the participant attains age 70 1/2. They may also elect an option to have their account distributed over a period of not less than two years or more than a period which would pay the account balance during the employee’s actuarial life in either a fixed or variable amount. Before-tax deposits may be withdrawn only in the event of an employee’s retirement, death, termination, attainment of age 59 1/2 or defined hardship. At December 31, 2005 and 2004; approximately $505,000 and $82,000 was payable to withdrawing participants.
5
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 1. | DESCRIPTION OF PLAN (Continued) |
Forfeitures – Nonvested participants whose services with the Company have been terminated will forfeit their entire Company matching source. Total forfeitures were approximately $76,000 and $47,000 for the years ended December 31, 2005 and 2004, respectively. Forfeitures are used to either reduce employer matching contributions or the reasonable expenses of the administration of the Plan.
Plan Termination – Although it has not expressed any intent to do so, CONSOL Energy has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their accounts.
| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Accounting – The financial statements of the Plan are prepared under the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America.
Investment Valuation and Income Recognition – The Plan’s investments are stated at fair value except for the Stable Value Fund (Note 3). The Stable Value Fund is comprised of guaranteed investment contracts (“GIC”), separate account portfolios (“SAP”) and synthetic GICs (“SYN”), all of which are held with multiple insurance companies. These fully benefit responsive contracts are held for investment purposes by the Plan and are stated at contract value (which represents contributions made under the contract, plus earnings, less withdrawals and administrative expenses). Participants may ordinarily direct the withdrawals or transfer of all or a portion of their investment at contract value. Changes in contract value of the investment contracts are recognized in the statement of changes in net assets available for benefits as they occur. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The fair value of the Stable Value Fund at December 31, 2005 and 2004 was $592,183,000 and $600,271,000 respectively.
Investments in common stocks, common stock funds and registered investment companies are stated at fair value based on publicly quoted market prices. Investments in Common/Collective Trusts are valued at the net asset value of units held by the Plan at year end by the applicable custodian.
6
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) |
Purchases and sales of investments are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. Gains and losses on the sale of DuPont and CONSOL Energy common stock are based on the average cost of the securities sold. The CONSOL Stock Fund, which is comprised solely of CONSOL Energy common stock, is valued at its quoted market price at year end. Participant loans are valued at cost, which approximates fair value.
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Risks and Uncertainties – The Plan provides for various investment options. These investments are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is possible that changes in the near or long term could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits.
Payment of Benefits – Benefits are recorded when paid.
Administrative Expenses – Certain administrative expenses of the Plan, such as trustee fees, accounting and legal fees are provided to the Plan by CONSOL Energy without cost. Other administrative expenses are borne by the Plan.
7
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 3. | INVESTMENTS |
The following presents individual investments that represent 5% or more of the Plan’s net assets available for benefits at December 31:
| (in thousands of dollars)
|
2005 | 2004 | |||||
| E.I. DuPont de Nemours & Company common stock, 2,351,050 and 2,862,919 shares, respectively |
$ | 99,920 | $ | 140,426 | |||
| CONSOL Energy Inc. common stock, 1,710,563 and 1,758,494 shares, respectively |
111,495 | 72,186 | |||||
| *LM Western Asset Core Plus, 2,446,693 and 5,995,955 shares, respectively |
25,372 | ** | 63,917 | ||||
| *PIMCO Low Duration Fund, 9,872,273 and 7,775,816 shares, respectively |
98,624 | 79,313 | |||||
| *GEM Trust: GEM Trust Risk-Controlled 2, 6,355,206 and 6,359,169 units, respectively |
66,027 | 64,222 | |||||
| *GEM Trust: GEM Trust Opportunistic 1, 6,274,531 and 6,278,445 units, respectively |
65,194 | 63,531 | |||||
| *GEM Trust: GEM Trust Opportunistic 2, 6,481,258 and 6,485,302 units, respectively |
67,226 | 65,611 | |||||
| *GEM Trust: GEM Trust Opportunistic 3, 6,517,710 and 6,521,489 units, respectively |
67,817 | 66,116 | |||||
| * | These investments are included in the Stable Value Fund. |
| ** | For comparative purposes only. Amount does not exceed 5% of net assets. |
During 2005 the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value by $53,812,000 as follows:
| (in thousands of dollars)
|
Net Appreciation (Depreciation) in Investment Value During Year |
|||
| Registered Investment Companies |
$ | 1,543 | ||
| Common Stock: |
||||
| CONSOL Stock Fund |
36,958 | |||
| E.I. DuPont de Nemours & Company |
(17,220 | ) | ||
| Daimler Chrysler AG |
5 | |||
| Stable Value Fund |
30,378 | |||
| Common/Collective Trusts |
2,148 | |||
| $ | 53,812 | |||
8
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 3. | INVESTMENTS (Continued) |
The Stable Value Fund is a separate account held by the Plan. The investment contracts are entered into based on an evaluation of the credit risk of the contract issuers and/or third party guarantors. Collateral is generally not provided. The Stable Value Fund includes traditional GIC contracts as well as SYN contracts. A SYN contract provides for a guaranteed return on principal over a specified period of time through the use of underlying assets and a benefit responsive wrapper contract issued by a third party. Included in the contract value of SYN contracts is approximately $(6,600,000) and $(19,300,000) at December 31, 2005 and 2004, respectively, attributable to wrapper contract providers representing the amounts by which the value of contracts are greater than (less than) the value of the underlying assets.
The composition of assets of the Stable Value Fund at contract value as of December 31, 2005 and 2004 are as follows:
| (in thousands of dollars)
|
2005 | 2004 | ||||
| Investment contracts |
$ | 577,142 | $ | 571,392 | ||
| Short-term investments |
8,169 | 3,278 | ||||
| $ | 585,311 | $ | 574,670 | |||
The composition of changes in net assets of the Stable Value Fund for the year ended December 31, 2005 is as follows:
| (in thousands of dollars)
|
||||
| Employer contributions |
$ | 6,604 | ||
| Participant contributions and rollovers |
28,990 | |||
| Total contributions |
35,594 | |||
| Interest and dividend income |
931 | |||
| Net realized/unrealized appreciation in fair value |
30,378 | |||
| Benefits paid to participants |
(71,323 | ) | ||
| Administrative Expense |
(2 | ) | ||
| Net loan activity |
(231 | ) | ||
| Net interfund transfers |
15,294 | |||
| Increase in net assets available for benefits |
10,641 | |||
| Net Assets |
||||
| Beginning of year |
574,670 | |||
| End of year |
$ | 585,311 | ||
9
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 3. | INVESTMENTS (Continued) |
The aggregate crediting rates for all contracts as of December 31, 2005 and 2004 were 5.46% and 5.19%, respectively. The crediting rates for SAP and SYN contracts are reset annually and are based on the market value of the underlying portfolio of assets backing these contracts. Inputs used to determine the crediting rate include each contract’s portfolio market value, current yield-to-maturity, duration (i.e., weighted average life), and market value relative to contract value. The average yield of the Stable Value Fund was approximately 5.32% and 5.29% in 2005 and 2004, respectively.
Participants investing in the Stable Value Fund or Common/Collective Trusts are assigned units at the time of investment based on the net asset value per unit.
| 4. | TAX STATUS |
The Plan obtained its latest determination letter on September 17, 2002, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan’s tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
| 5. | RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 |
The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2005 and 2004 to Form 5500:
| (in thousands of dollars)
|
2005 | 2004 | ||||||
| Net assets available for benefits per the financial statements |
$ | 1,039,631 | $ | 1,013,496 | ||||
| Amounts allocated to withdrawing participants |
(505 | ) | (82 | ) | ||||
| Net assets available for benefits per the Form 5500 |
$ | 1,039,126 | $ | 1,013,414 | ||||
10
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 5. | RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 (Continued) |
The following is a reconciliation of benefits paid to participants per the financial statements for the year ended December 31, 2005, to Form 5500:
| (in thousands of dollars)
|
||||
| Benefits paid to participants per the financial statements |
$ | 97,736 | ||
| Amounts allocated to withdrawing participants at December 31, 2005 |
505 | |||
| Less: Amounts allocated to withdrawing participants at December 31, 2004 |
(82 | ) | ||
| Benefits paid to participants per form 5500 |
$ | 98,159 | ||
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, 2005 and 2004, but not yet paid as of that date.
| 6. | TRANSACTIONS WITH PARTIES-IN-INTEREST |
Plan investments include a collective investment fund managed by Merrill Lynch. Merrill Lynch is the trustee as defined by the Plan and, therefore, these transactions qualify as those conducted with a party-in-interest to the Plan.
One of the investment vehicles available to employees, the CONSOL Stock Fund, contains stock of CONSOL Energy. The Plan held 1,710,563 shares and 1,758,494 shares of CONSOL Energy’s common stock at December 31, 2005 and 2004, respectively.
| 7. | SUBSEQUENT EVENTS |
The Plan was formally amended as of January 1, 2006 to reflect the following changes:
General – For Plan years following December 31, 2005, the ESOP portion of the Plan shall consist of both the CONSOL Stock Fund and the CNX Gas Corporation Stock Fund (CNX Stock Fund). Participants invested in the CNX Stock Fund can elect to receive cash for dividends declared on the CNX Stock Fund after January 30, 2006.
11
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
Notes to Financial Statements
December 31, 2005 and 2004
| 7. | SUBSEQUENT EVENTS (Continued) |
Contributions – For years ended subsequent to December 31, 2005, CONSOL and certain participating employers will match employee contributions, dollar for dollar, up to 6% of base pay (revised from a 2004 amendment increasing the match to 9% for employees hired after August 1, 2004). The matching formula for participants of Fairmont Supply Company remains the same. In addition, a member of the Plan may also designate from 1% to 85% (not to exceed $10,000) of any quarterly or annual incentive compensation payment as a supplemental contribution.
Vesting – Effective January 1, 2006, plan participants are immediately 100% vested in their share of the Company’s matching contributions.
Enrollment – For Plan years commencing January 1, 2006, and thereafter, newly eligible employees and eligible employees who are not contributing to the Plan will automatically become members of the Plan (as defined by the Plan) and will contribute at the rate of 6% of base pay (4% for employees of Fairmont Supply Company), unless the participant elects not to contribute. Alternatively, current members of the Plan who are contributing less than 6% of base pay (4% for employees of Fairmont Supply Company) to the Plan as before-tax contributions will automatically have their contributions subject to a one time increase to the aforementioned rates with the first payroll deduction following January 1, 2006, unless the member elects to have the contributions made on an after-tax basis or declines an increase in their contribution rate.
12
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
SUPPLEMENTAL SCHEDULE
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | |||||
| Common Stock | |||||||||
| * |
Consol Stock Fund | 1,710,563 | $ | 111,495 | |||||
| E.I. DuPont de Nemours & Company | 2,351,050 | 99,920 | |||||||
| Daimler Chrysler AG | 1,902 | 97 | |||||||
| Total Common Stock | 211,512 | ||||||||
| Interests in Registered Investment Companies | |||||||||
| * |
Merrill Lynch | Basic Value Fund | 461,877 | 14,341 | |||||
| Fidelity Investments | Low Priced Stock Fund | 482,569 | 19,708 | ||||||
| Growth and Income Portfolio | 235,758 | 8,110 | |||||||
| Franklin Templeton | Foreign Fund | 1,039,513 | 13,150 | ||||||
| Smith Barney | Large Cap Growth Fund | 762,339 | 18,075 | ||||||
| PIMCO | Total Return Fund | 1,132,021 | 11,886 | ||||||
| Davis New York | Venture Fund | 863,691 | 29,426 | ||||||
| American Funds | Europacific Growth Fund | 375,285 | 15,248 | ||||||
| Hotchkis and Wiley | Mid Cap Value Fund | 587,742 | 16,575 | ||||||
| The Managers | Special Equity Fund | 85,456 | 7,415 | ||||||
| Alger | Mid Cap Growth Fund | 1,179,674 | 19,724 | ||||||
| BlackRock | Aurora Fund | 251,264 | 8,988 | ||||||
| Total Interests in Registered Investment Companies | 182,646 | ||||||||
| Stable Value Fund | |||||||||
| Hartford Life Insurance Company |
GIC, 4.80%, 08/02/2010 | 10,798,391 | 10,798 | ||||||
| Hartford Life Insurance Company |
GIC, 4.60%, 06/01/2011 | 10,497,443 | 10,497 | ||||||
| New York Life Ins Co |
GIC, 4.40%, 12/01/2010 | 10,504,241 | 10,504 | ||||||
| Principal Life Insurance Co |
GIC, 5.50%, 4/30/2012 | 5,035,329 | 5,035 | ||||||
| Security Life of Denver |
GIC, 6.19%, 03/03/2008 | 23,996,373 | 23,996 | ||||||
14
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | ||||
| Prudential Retirement Ins. & Annuity Co. |
GIC, 7.14%, 10/01/2007 | 29,095,690 | 29,096 | |||||
| Metropolitan Life Insurance Co |
GIC, 4.50%, 5/02/2011 | 10,363,171 | 10,363 | |||||
| John Hancock Life Ins. Co. |
GIC, 6.07%, 05/01/2006 | 3,734,720 | 3,735 | |||||
| Transamerica |
GIC, 7.10%, 9/1/06 | 8,569,416 | 8,569 | |||||
| * |
Merrill Lynch Premier Fund |
Money Market Fund, 4.15% | 8,169,401 | 8,169 | ||||
| Royal Bank of Canada: | ||||||||
| Royal Bank of Canada |
Synthetic GIC 4.59%, opened | 13,487,864 | ||||||
| Underlying Security Description: | ||||||||
| FHR 2927 ED | 4% 15 Jan 2035 | 9,267,828 | 9,023 | |||||
| FMAN 2004-1 1 4.45 | 4.45% 25 Aug 2012 | 2,188,263 | 2,134 | |||||
| FHR 2945 CA | 5% 15 Jul 2033 | 2,133,097 | 2,113 | |||||
| Royal Bank of Canada | Synthetic Wrapper Agreement | 218 | ||||||
| Perpetual Window Global Wrap: | ||||||||
| AIG Life Insurance Company |
Synthetic GIC 4.84%, opened | 24,969,985 | ||||||
| ING Life Insurance & Annuity Co. |
Synthetic GIC 4.84%, opened | 24,969,985 | ||||||
| JPMorgan Chase Bank |
Synthetic GIC 4.84%, opened | 24,969,985 | ||||||
| Monumental Life Insurance Co |
Synthetic GIC 4.84%, opened | 24,969,985 | ||||||
| State Street Bank & Trust |
Synthetic GIC 4.84%, opened | 24,969,985 | ||||||
| Underlying Security Description: | ||||||||
| PIMCO Low Duration Fund | Mutual Fund | 9,872,273 | 98,624 | |||||
| LM Western Asset Core Plus | Mutual Fund | 2,446,693 | 25,372 | |||||
| Various Insurance Companies | Synthetic Wrapper Agreements | 854 | ||||||
| Total Return Tier Global Wrap: | ||||||||
| AIG Life Insurance Company |
Synthetic GIC 5.63%, opened | 65,241,596 | ||||||
| ING Life Insurance & Annuity Co. |
Synthetic GIC 5.63%, opened | 65,241,596 | ||||||
| JPMorgan Chase Bank |
Synthetic GIC 5.63%, opened | 65,241,596 | ||||||
| Monumental Life Insurance Co |
Synthetic GIC 5.63%, opened | 65,241,596 | ||||||
| State Street Bank & Trust |
Synthetic GIC 5.63%, opened | 65,241,596 | ||||||
| Underlying Security Description: | ||||||||
| GEM Trust Risk-Controlled 2 | 6,355,206.0343 units of participation | 66,027 |
15
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) |
||||||
| GEM Trust Opportunistic 1 | 6,274,531.3946 units of participation | 65,194 | ||||||||
| GEM Trust Opportunistic 2 | 6,481,258.1865 units of participation | 67,226 | ||||||||
| GEM Trust Opportunistic 3 | 6,517,710.4588 units of participation | 67,817 | ||||||||
| FNMA Pool 499190 | 6.5% 01 Jun 2029 | 26,219 | 27 | |||||||
| Intl Bank Recon + Dev | 7.625% 19 Jan 2023 | 290,000 | 383 | |||||||
| GNMA Pool 419569 | 6.5% 15 Feb 2026 | 14,754 | 15 | |||||||
| Ameritech Capital Funding Co | 6.25% 18 May 2009 | 137,000 | 142 | |||||||
| Duke Cap Corp | 6.75% 15 Jul 2018 | 121,000 | 132 | |||||||
| GNMA Pool 780975 | 6% 15 Feb 2029 | 4,877 | 5 | |||||||
| FHLMC TBA Jan 30 Gold Single | 5.5% 01 Dec 2099 | (1,000,000 | ) | (991 | ) | |||||
| GNMA Pool 426119 | 8% 15 Jun 2026 | 24,614 | 26 | |||||||
| Fed Hm Ln Pc Pool C80253 | 9% 01 Jan 2025 | 22,146 | 24 | |||||||
| Procter + Gamble Co | 8% 26 Oct 2029 | 69,000 | 93 | |||||||
| Intl Bk For Recon + Dev | 0% 15 Feb 2015 | 21,000 | 13 | |||||||
| Intl Bk For Recon + Dev | 0.01% 15 Feb 2016 | 573,000 | 340 | |||||||
| Archer Daniels Midland Co | 8.875% 15 Apr 2011 | 84,000 | 99 | |||||||
| Inter Amern Dev Bk | 8.5% 15 Mar 2011 | 80,000 | 94 | |||||||
| Tyson Foods Inc | 7% 01 May 2018 | 86,000 | 93 | |||||||
| Coastal Corp | 6.5% 15 May 2006 | 120,000 | 120 | |||||||
| United States Tres Sc Strp Int | 0% 15 May 2019 | 475,000 | 257 | |||||||
| British Columbia Prov Cda | 5.375% 29 Oct 2008 | 178,000 | 181 | |||||||
| Financing Corp | 9.65% 02 Nov 2018 | 450,000 | 644 | |||||||
| Financing Corp | 8.6% 26 Sep 2019 | 75,000 | 101 | |||||||
| United States Tres Sc Strp Int | 0% 15 May 2018 | 2,770,000 | 1,576 | |||||||
| General Mtrs Corp | 7.1% 15 Mar 2006 | 173,000 | 172 | |||||||
| FNMA Pool 482922 | 6.5% 01 Apr 2029 | 7,005 | 7 | |||||||
| Eastman Chem Co | 7.25% 15 Jan 2024 | 155,000 | 172 | |||||||
| Federal Home Ln Bks | 5.925% 09 Apr 2008 | 1,000,000 | 1,024 | |||||||
| Federal Natl Mtg Assn Remic | 7.5% 25 Mar 2007 | 66,918 | 67 | |||||||
| Enron Corp | 6.75% 01 Jul 2005 | 120,000 | 1 |
16
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | ||||
| Time Warner Entmt Co L P | 8.875% 01 Oct 2012 | 100,000 | 116 | |||||
| Hydro Quebec | 8.4% 15 Jan 2022 | 120,000 | 164 | |||||
| United States Tres Sc Strp Int | 0% 15 Aug 2017 | 1,035,000 | 611 | |||||
| AES Eastn Energy Lp | 9% 02 Jan 2017 | 94,593 | 107 | |||||
| Landesbank Baden Wurttembe | 7.625% 01 Feb 2023 | 106,000 | 136 | |||||
| Norfolk Southn Corp | 7.05% 01 May 2037 | 50,000 | 60 | |||||
| Federal Natl Mtg Assn REMIC | 9.99% 25 Sep 2017 | 19,734 | 22 | |||||
| FNMA Pool 323347 | 7% 01 Sep 2028 | 83,365 | 87 | |||||
| BBV Intl Fin Ltd | 7% 01 Dec 2025 | 112,000 | 134 | |||||
| United States Tres Sc Strp Int | 0% 15 Feb 2019 | 1,304,000 | 715 | |||||
| Sun Microsystems Inc | 7.65% 15 Aug 2009 | 100,000 | 106 | |||||
| FHLMC TBA Jan 30 Gold Single | 6% 01 Dec 2099 | 2,000,000 | 2,019 | |||||
| British Sky Broadcasting Group | 8.2% 15 Jul 2009 | 60,000 | 66 | |||||
| Tennessee Valley Auth | 6.25% 15 Dec 2017 | 55,000 | 61 | |||||
| Time Warner Inc | 9.125% 15 Jan 2013 | 90,000 | 106 | |||||
| Murphy Oil Corp | 7.05% 01 May 2029 | 320,000 | 385 | |||||
| Continental Airls Pass Thru Tr | 6.94% 15 Oct 2013 | 80,011 | 77 | |||||
| Goldman Sachs Group Inc | 7.35% 01 Oct 2009 | 120,000 | 129 | |||||
| TRW Inc | 7.125% 01 Jun 2009 | 73,000 | 78 | |||||
| U S West Cap Fdg Inc | 6.875% 15 Jul 2028 | 236,000 | 215 | |||||
| Continental Airls Pass Thru Tr | 8.048% 01 May 2022 | 96,343 | 98 | |||||
| Nationsbank Corp | 7.8% 15 Sep 2016 | 89,000 | 108 | |||||
| FNMA Pool 533373 | 6.5% 01 Mar 2030 | 32,856 | 34 | |||||
| FNMA Pool 503290 | 6.5% 01 Jun 2029 | 7,697 | 8 | |||||
| Becton Dickinson + Co | 7% 01 Aug 2027 | 103,000 | 122 | |||||
| NSTAR | 8% 15 Feb 2010 | 120,000 | 134 | |||||
| Morgan Stanley Group Inc | 8% 15 Jun 2010 | 60,000 | 67 | |||||
| Norfolk Southn Corp | 6.2% 15 Apr 2009 | 44,000 | 46 | |||||
| Sprint Cap Corp | 6.875% 15 Nov 2028 | 107,000 | 117 | |||||
| Bank Of America | 7.8% 15 Feb 2010 | 300,000 | 332 |
17
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | |||||
| Vodafone Airtouch Plc | 7.75% 15 Feb 2010 | 42,000 | 43 | ||||||
| Applied Matls Inc | 7.125% 15 Oct 2017 | 432,000 | 481 | ||||||
| * |
State Street Bank + Trust Co | SHORT TERM INVESTMENT FUND 4.19% 30 Dec 2030 |
16,928,571 | 16,929 | |||||
| Federal Home Ln Mtg Pc Gtd | 6.5% 15 Jun 2022 | 14,282 | 0 | ||||||
| GNMA Pool 377590 | 8% 15 Aug 2025 | 117,297 | 125 | ||||||
| Eurodollar Futures | 18 Jun 2007 | (3,000,000 | ) | 0 | |||||
| New Vy Gereration 1 | 7.299% 15 Mar 2019 | 87,598 | 100 | ||||||
| British Telecommunications Plc | 8.125% 15 Dec 2010 | 82,000 | 93 | ||||||
| Burlington Northn Santa Fe | 7.125% 15 Dec 2010 | 200,000 | 218 | ||||||
| Ford Mtr Cr Co | 7.375% 01 Feb 2011 | 35,000 | 31 | ||||||
| Southwest Gas Corp | 8.375% 15 Feb 2011 | 110,000 | 124 | ||||||
| Eurodollar Futures | 16 Jun 2008 | 1,500,000 | 0 | ||||||
| Federal Natl Mtg Assn | 5.5% 15 Mar 2011 | 530,000 | 548 | ||||||
| Cmnwlth Bank Of Aust | 7.125% 10 Jul 2006 | 280,000 | 283 | ||||||
| Japan Expressway Hldg + Debt | 6.75% 17 Sep 2007 | 250,000 | 258 | ||||||
| Hilton Hotels Corp | 7.625% 15 May 2008 | 40,000 | 42 | ||||||
| FNMA Pool 584869 | 6.5% 01 Jun 2031 | 33,737 | 35 | ||||||
| FNMA Pool 535933 | 6.5% 01 May 2031 | 31,774 | 33 | ||||||
| Univision Communications Inc | 7.85% 15 Jul 2011 | 60,000 | 66 | ||||||
| GNMA Pool 421856 | 6.5% 15 Apr 2026 | 4,091 | 4 | ||||||
| GNMA Pool 288117 | 10% 15 Mar 2020 | 13,114 | 15 | ||||||
| GNMA Pool 294918 | 10% 15 Sep 2020 | 19,513 | 22 | ||||||
| GNMA Pool 296513 | 10% 15 Dec 2020 | 30,789 | 35 | ||||||
| Autopista Del Maipo Sociedad | 7.373% 15 Jun 2022 | 410,000 | 473 | ||||||
| General Mtrs Accep Corp | 6.875% 15 Sep 2011 | 130,000 | 119 | ||||||
| Ford Mtr Cr Co | 7.25% 25 Oct 2011 | 105,000 | 91 | ||||||
| Ford Mtr Cr Co | 6.5% 25 Jan 2007 | 180,000 | 174 | ||||||
| Government Backed Trs | 0% 15 May 2008 | 1,040,000 | 932 | ||||||
| Alcoa Inc | 6% 15 Jan 2012 | 84,000 | 88 | ||||||
| Federal Natl Mtg Assn | 4.75% 02 Jan 2007 | 185,000 | 185 |
18
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) |
||||||
| Qwest Cap Fdg Inc | 7% 03 Aug 2009 | 100,000 | 101 | |||||||
| Household Fin Corp | 5.75% 30 Jan 2007 | 160,000 | 162 | |||||||
| General Mtrs Accep Corp | 7% 01 Feb 2012 | 105,000 | 95 | |||||||
| Fed Hm Ln Pc Pool D28599 | 7.5% 01 Dec 2022 | 26,756 | 28 | |||||||
| FNMA Pool 306974 | 7.5% 01 Jun 2025 | 3,256 | 3 | |||||||
| Mcdonalds Corporation | 4.24% 13 Dec 2006 | 65,000 | 65 | |||||||
| Colgate Palmolive Co Mtn | 5.98% 25 Apr 2012 | 25,000 | 26 | |||||||
| Kraft Foods Inc | 6.25% 01 Jun 2012 | 15,000 | 16 | |||||||
| J P Morgan Chase + Co | 5.25% 30 May 2007 | 26,000 | 26 | |||||||
| Jackson Natl Life Global Fdg | 6.125% 30 May 2012 | 26,000 | 27 | |||||||
| Sumitomo Mitsui Bk Corp | 8% 15 Jun 2012 | 58,000 | 67 | |||||||
| Bank Austria | 5.75% 08 Jun 2006 | 300,000 | 302 | |||||||
| Federal Natl Mtg Assn | 5.25% 01 Aug 2012 | 500,000 | 505 | |||||||
| AT+T Corp | 8% 15 Nov 2031 | 330,000 | 415 | |||||||
| Japan Fin Corp Mun Enterprises | 6.85% 15 Apr 2006 | 200,000 | 201 | |||||||
| Florence Italy | 6.14% 15 Apr 2014 | 32,300 | 35 | |||||||
| Coors Brewing Co | 6.375% 15 May 2012 | 14,000 | 15 | |||||||
| GNMA Pool 373712 | 6.5% 15 Apr 2026 | 2,891 | 3 | |||||||
| Pearson Inc | 7.375% 15 Sep 2006 | 95,000 | 97 | |||||||
| Brunswick Corp | 7.375% 01 Sep 2023 | 140,000 | 161 | |||||||
| Landesbank Baden Wurttemberg | 5.125% 30 May 2007 | 100,000 | 101 | |||||||
| Financing Corp Cpn Fico Strips | 0.01% 06 Jun 2018 | 180,000 | 97 | |||||||
| AT+T Broadband Corp | 8.375% 15 Mar 2013 | 25,000 | 29 | |||||||
| FHLMC TBA Jan 30 Gold Single | 5% 01 Dec 2099 | (9,000,000 | ) | (8,710 | ) | |||||
| Countrywide Fdg Corp Mtn | 4.25% 19 Dec 2007 | 84,000 | 83 | |||||||
| Massachusetts Elec Co Secd Mtn | 7.39% 01 Oct 2027 | 85,000 | 89 | |||||||
| Fed Hm Ln Pc Pool C72128 | 6% 01 Oct 2032 | 101,690 | 103 | |||||||
| Lehman Bros Hldgs Inc | 4% 22 Jan 2008 | 84,000 | 83 | |||||||
| Bayerische Landesbank | 2.5% 30 Mar 2006 | 84,000 | 84 | |||||||
| Goldman Sachs Group Inc | 6.125% 15 Feb 2033 | 66,000 | 69 |
19
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | ||||
| Bk Austria Ag | 5.375% 28 Dec 2007 | 350,000 | 354 | |||||
| Bear Stearns Cos Inc | 3% 30 Mar 2006 | 84,000 | 84 | |||||
| Bayerische Landesbank Girozen | 5.375% 24 Sep 2007 | 150,000 | 152 | |||||
| Hanson Australia Fdg Ltd | 5.25% 15 Mar 2013 | 58,000 | 57 | |||||
| Kommuninvest I Sverige Ab | 0.01% 05 Jun 2006 | 180,000 | 176 | |||||
| * |
Merrill Lynch + Co Inc | 3.7% 21 Apr 2008 | 68,000 | 66 | ||||
| Liberty Media Corp New | 5.7% 15 May 2013 | 70,000 | 65 | |||||
| Comerica Inc | 4.8% 01 May 2015 | 80,000 | 78 | |||||
| Massachusetss Mut Life Ins Co | 5.625% 15 May 2033 | 70,000 | 72 | |||||
| Textron Finl Corp | 2.75% 01 Jun 2006 | 30,000 | 30 | |||||
| Royal Bank Of Scotland Grp Plc | 4.7% 03 Jul 2018 | 61,000 | 58 | |||||
| Fed Hm Ln Pc Pool E60022 | 6.5% 01 Aug 2009 | 51,758 | 53 | |||||
| Fed Hm Ln Pc Pool C56016 | 6% 01 Mar 2031 | 105,018 | 106 | |||||
| Empresa Nacional De Electricid | 8.625% 01 Aug 2015 | 50,000 | 59 | |||||
| Altria Group Inc | 7% 04 Nov 2013 | 50,000 | 55 | |||||
| Federal Home Ln Mtg Corp | 2.875% 15 Dec 2006 | 700,000 | 688 | |||||
| Hutchison Whampoa Intl | 6.25% 24 Jan 2014 | 100,000 | 105 | |||||
| GNMA I TBA Jan 30 Single Fam | 5% 15 Dec 2099 | 2,500,000 | 2,466 | |||||
| Halliburton Co | 7.6% 15 Aug 2096 | 430,000 | 527 | |||||
| United States Treas Nts | 2% 15 Jan 2014 | 754,551 | 750 | |||||
| Toyota Motor Cred | 4.875% 20 Jun 2007 | 80,000 | 80 | |||||
| FNMA Pool 318107 | 7% 01 Aug 2025 | 1,221 | 1 | |||||
| FNMA Pool 414547 | 7% 01 Feb 2028 | 10,638 | 11 | |||||
| GNMA II Pool 002348 | 6% 20 Nov 2011 | 56,965 | 58 | |||||
| GNMA Pool 421692 | 6.5% 15 Feb 2026 | 4,037 | 4 | |||||
| GNMA Pool 422131 | 6.5% 15 Apr 2026 | 24,336 | 26 | |||||
| GNMA Pool 431373 | 6.5% 15 Sep 2026 | 10,947 | 11 | |||||
| Bank Nederlandse Gemeenten Nv | 4.23% 18 Mar 2006 | 400,000 | 400 | |||||
| Bombardier Inc | 7.45% 01 May 2034 | 100,000 | 85 | |||||
| International Fin Corp | 3.75% 30 Jun 2009 | 50,000 | 49 |
20
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | ||||
| FNMA Pool 779002 | 5.5% 01 Jun 2034 | 173,011 | 172 | |||||
| Fed Hm Ln Pc Pool A18966 | 6% 01 Feb 2034 | 119,934 | 121 | |||||
| Danske Bk A/S | 1% 29 Dec 2049 | 17,000 | 18 | |||||
| Fed Hm Ln Pc Pool A23452 | 5.5% 01 Jun 2034 | 25,722 | 26 | |||||
| Fed Hm Ln Pc Pool A23404 | 5.5% 01 Jun 2034 | 51,834 | 51 | |||||
| Fed Hm Ln Pc Pool A24464 | 6% 01 Jul 2034 | 48,389 | 49 | |||||
| Allstate Corp | 5% 15 Aug 2014 | 70,000 | 69 | |||||
| Fed Hm Ln Pc Pool A24560 | 5% 01 Jul 2034 | 244,400 | 237 | |||||
| Bellsouth Corp | 4.2% 15 Sep 2009 | 15,000 | 15 | |||||
| Landwirtschaftliche Rentenbank | 3.25% 12 Oct 2007 | 80,000 | 78 | |||||
| Dbs Bk Ltd Singapore | 1% 15 Nov 2019 | 90,000 | 88 | |||||
| Deere John Cap Corp Mtn Bk Ent | 3.375% 01 Oct 2007 | 25,000 | 24 | |||||
| Fed Hm Ln Pc Pool G08015 | 5.5% 01 Oct 2034 | 467,152 | 464 | |||||
| Anz National Bank Limited | 3.75% 05 Jan 2009 | 80,000 | 78 | |||||
| Federal Home Ln Bks | 3.125% 15 Nov 2006 | 160,000 | 158 | |||||
| Jpmorgan Chase + Co | 4.5% 15 Jan 2012 | 120,000 | 116 | |||||
| Kroger Co | 4.95% 15 Jan 2015 | 70,000 | 65 | |||||
| Bellsouth Corp | 5.2% 15 Dec 2016 | 17,000 | 17 | |||||
| FNMA Pool 735061 | 6% 01 Nov 2034 | 565,170 | 571 | |||||
| United States Treas Nts | 1.625% 15 Jan 2015 | 782,325 | 754 | |||||
| Fed Hm Ln Pc Pool A30282 | 4.5% 01 Dec 2034 | 490,607 | 463 | |||||
| Tokyo Electric Power Co Inc | 7.125% 13 Jun 2007 | 200,000 | 206 | |||||
| Fed Hm Ln Pc Pool A31336 | 5.5% 01 Feb 2035 | 850,609 | 843 | |||||
| GNMA Pool 583078 | 5.5% 15 Feb 2035 | 400,328 | 403 | |||||
| GNMA Pool 609289 | 5.5% 15 Dec 2034 | 46,094 | 46 | |||||
| Fed Hm Ln Pc Pool A18585 | 6% 01 Feb 2034 | 28,521 | 29 | |||||
| Fed Hm Ln Pc Pool A38836 | 4.5% 01 May 2035 | 294,438 | 278 | |||||
| Quebec Prov Cda | 4.6% 26 May 2015 | 50,000 | 49 | |||||
| FNMA Pool 828280 | 5.5% 01 Jun 2035 | 497,918 | 493 | |||||
| Federal Natl Mtg Assn | 0% 15 Nov 2023 | 450,000 | 184 |
21
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/units |
(e) Current Value (in 000s) | |||||
| Public Svc Elec Gas Co | 5.25% 01 Jul 2035 | 55,000 | 52 | ||||||
| United States Treas Bills | 0% 05 Jan 2006 | 200,000 | 198 | ||||||
| Fed Hm Ln Pc Pool G08068 | 5.5% 01 Jul 2035 | 487,289 | 483 | ||||||
| Fed Hm Ln Pc Pool G01769 | 5.5% 01 Jan 2035 | 28,452 | 28 | ||||||
| Kimberly Clark Corp | 4.875% 15 Aug 2015 | 18,000 | 18 | ||||||
| Fed Hm Ln Pc Pool A46093 | 5.5% 01 Jul 2035 | 1,916,303 | 1,899 | ||||||
| Fed Hm Ln Pc Pool G08073 | 5.5% 01 Aug 2035 | 977,693 | 969 | ||||||
| FNMA Pool 833671 | 5% 01 Aug 2035 | 480,505 | 466 | ||||||
| Fed Hm Ln Pc Pool A46719 | 5% 01 Aug 2035 | 981,523 | 950 | ||||||
| FNMA Pool 833345 | 5.5% 01 Aug 2035 | 497,824 | 493 | ||||||
| Fed Hm Ln Pc Pool A47067 | 5% 01 Sep 2035 | 499,999 | 484 | ||||||
| Fed Hm Ln Pc Pool A38636 | 5% 01 Oct 2035 | 992,867 | 961 | ||||||
| GNMA Pool 642602 | 5% 15 Oct 2035 | 997,589 | 984 | ||||||
| PPL Energy Supply LLC | 5.7% 15 Oct 2015 | 125,000 | 125 | ||||||
| U S Treas Bonds Futures | 22 Mar 2006 | 100,000 | 0 | ||||||
| U S Treas Bonds Futures | 22 Mar 2006 | (300,000 | ) | 0 | |||||
| U S Treas Notes 5Yr Futures | 22 Mar 2006 | 4,500,000 | 0 | ||||||
| U S Treas Notes 5Yr Futures | 22 Mar 2006 | (11,300,000 | ) | 0 | |||||
| Comcast Corp New | 5.85% 15 Nov 2015 | 70,000 | 71 | ||||||
| SBC Communications Inc | 5.3% 15 Nov 2010 | 90,000 | 90 | ||||||
| Fed Hm Ln Pc Pool G08094 | 5% 01 Nov 2035 | 5,986,271 | 5,795 | ||||||
| Fed Hm Ln Pc Pool G01954 | 5% 01 Nov 2035 | 498,271 | 482 | ||||||
| Boston Scientific Corp | 5.5% 15 Nov 2015 | 35,000 | 35 | ||||||
| U S Treas Notes 10Yr Future | 22 Mar 2006 | 7,800,000 | 0 | ||||||
| Us Treas Nts 2Yr Futures | 31 Mar 2006 | 13,200,000 | 0 | ||||||
| Fed Hm Ln Pc Pool A40536 | 5% 01 Dec 2035 | 1,000,000 | 968 | ||||||
| Fed Hm Ln Pc Pool A40807 | 5% 01 Dec 2035 | 1,000,000 | 968 | ||||||
| Pacificorp | 6.71% 15 Jan 2026 | 400,000 | 449 | ||||||
| Federal Home Ln Mtg Pc Gtd | 8% 25 Apr 2024 | 319,749 | 346 | ||||||
| Federal Natl Mtg Assn Remic | 8.5% 25 Sep 2021 | 78,800 | 85 |
22
CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
EIN Number 51-0337383, Plan Number 002
Schedule H, Part IV, Line 4(i) Schedule of Assets
Held for Investment Purposes at End of Year
| December 31, 2005 | Supplemental Schedule |
| (a) |
(b) Identity of Issue, Borrower Lessor or Similar Party |
(c) Description of investment including maturity date, rate |
(d) Cost ** and Number of shares/ units |
(e) Current Value (in 000s) |
|||||||
| Federal Natl Mtg Assn | 7.33528% 25 Dec 2038 | 564,396 | 642 | ||||||||
| Government Tr Ctfs | 0% 15 May 2011 | 2,380,000 | 1,874 | ||||||||
| BGB Finance(IRE) | 7.125% 27 Feb 2012 | 500,000 | 552 | ||||||||
| I.B.R.D. World Bank | 5.5% 25 Nov 2013 | 181,000 | 193 | ||||||||
| Lb Hessen Thuringen Giro | 5.75% 10 May 2006 | 150,000 | 151 | ||||||||
| GNMA Pool 412234 | 6.5% 15 May 2026 | 15,722 | 16 | ||||||||
| GNMA Pool 373607 | 6.5% 15 Mar 2026 | 1,679 | 2 | ||||||||
| GNMA Pool 424276 | 6.5% 15 Mar 2026 | 32,481 | 34 | ||||||||
| United States Tres Sc Strp Int | 0% 15 Nov 2027 | 400,000 | 146 | ||||||||
| GNMA Pool 457932 | 6% 15 Dec 2028 | 63,039 | 65 | ||||||||
| CNA Finl Corp | 7.25% 15 Nov 2023 | 285,000 | 300 | ||||||||
| GNMA Pool 412583 | 6.5% 15 Apr 2026 | 10,895 | 11 | ||||||||
| GNMA Pool 413641 | 6.5% 15 Apr 2026 | 95,978 | 101 | ||||||||
| Equitable Res Inc | 7.75% 15 Jul 2026 | 130,000 | 168 | ||||||||
| Eurodollar Futures | 19 Jun 2006 | 4,500,000 | 0 | ||||||||
| Eurodollar Futures | 19 Jun 2006 | (500,000 | ) | 0 | |||||||
| Norsk Hydro A S | 7.15% 15 Nov 2025 | 125,000 | 152 | ||||||||
| Various Receivables | 5,691 | ||||||||||
| Various Insurance Companies | Synthetic Wrapper Agreements | (7,643 | ) | ||||||||
| Total Stable Value Fund | 585,311 | ||||||||||
| Common/collective trusts | |||||||||||
| * |
Merrill Lynch | Equity Index Trust | 483,860 | 45,788 | |||||||
| * |
Participant Loans | 4.00% to 9.00% | 13,864 | ||||||||
| $ | 1,039,121 | ||||||||||
| * | Indicates parties-in-interest |
| ** | Cost information is not required for participant-directed investments and, therefore is not included. |
23
Pursuant to the requirements of the Securities and Exchange act of 1934, the plan administrator of the CONSOL Energy Inc. Investment Plan for Salaried Employees has duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized, in Pittsburgh, Allegheny County, Commonwealth of Pennsylvania.
THE CONSOL ENERGY INC. INVESTMENT PLAN FOR SALARIED EMPLOYEES
| Date: June 28, 2006 | By: | /s/ Patricia Lang | ||
| Patricia Lang | ||||
| Plan Administrator |
24