EFTA01075600.pdf

2006 BLACK FAMILY TRUST SUMMARY OF TRUST ACCOUNTING INCOME 2007-2012 TOTAL per Trust accounting (Sch A-2 • pgs 36-50) DESCRIPTION 2007 2008 2009 2010 2011 2012 Partnership Distributions Apollo Credit Opp Fund I s 54,785,356 $ 8,405,145 s 25,921,685 s 72,572,319 $ 161,684,505 Slack Family Partners LP 5,041,180 14,288,749 97,064,735 82,409,654 198,804,318 s 59,826,536 s 22,693,894 s 122,986,420 s 154,981,973 $ 360,488,823 Dividend Income $ 619,169 878,277 810,821 810,822 637,074 3,756,163 Interest Income $ 11,704,160 7,676,706 53,337 59,988 8,118 1,775 19,504,084 Grantor loan Interest Income 3,700,295 1,697,397 352,955 5,750,647 Management Fee Income 3,780,599 393,213 4,173,812 TOTAL $ 1S,404,455 $ 9,993,272 $ 61,111,105 $ 27,345,302 5 124,198,573 $ 155,620,822 $ 393,673,529 ,..al 11:1=•• •••••••••••• lell •M1MIIIIMMIll EFTA01075600 2006 BLACK FAMILY TRUST SUMMARY OF DISTRIBUTIONS 2007-2012 DESCRIPTION TOTAL 2007 2008 2009 2010 2011 2012 (Sch E + Sch E-1) INCOME DISTRIBUTIONS: Leon Black 18,914,231 5 $ 19,288,749 $ 92,064,735 $ 82,409,654 $ 212,677,369 • PRINCIPAL DISTRIBUTIONS: GRAY Annuity Pesi.nnts Judah? Trusts $ 284,725,234 $ 341,670,279 S 626,395,513 Disbursements on behalf of Black Family Partners 125,988,501 125,988,501 Benjamin Black 120.000 120,000 TOTAL $ 2aa3125 S3 7CM9 18 914 231 $ :9 788 749 $ 92,064,735 82,529,654 $ 965.181,383 • DISTRIBUTION OF INCOME SUBSEQUENT TO DECEMBER 31, 2022 Third Quarter 2012 Dividend Income - Distributed on January 13, 2013 5 10,825,800 Total income Distributions Paid through December 31, 2012 212,677,369 Total income Distributions (accounting income through quarter ended September 30, 2012) $ 223,503,169 EFTA01075601 2006 BLACK FAMILY TRUST RECONCILIATION OF CASH ON HAND DECEMBER 31, 2012 Balances Principal Income Combined Per Bank Balance Balance Balances statements DESCRIPTION (Sch G) (Sch G-1) (Sch G + kb G-1) (G/L) Bank of America 2006 Trust Account $ 10,000.00 $ 1.51 $ 10,002 $ 10,002 WM 18559007 (3,593,288.25) 3,756,578.39 163,290 163,291 USTC 11-9582-4 1,494,576.07 37.00 1,494,613 1,494,613 USTC 11-9583-2 644,275.33 501,989.28 1,146,265 1,146,265 USTC 4548 / 5828049 (144,149,119.44) 171,529,996.48 27,380,877 27,380,877 USTC 4902 / 5828403 (14,913,878.06) 15,040,223.54 126,345 126,345 USTC 6216 (394,793.92) 470,925.80 76,132 76,132 TOTAL $ (160,902,228.27) $ 191,299,752.00 $ 30,397,524 $ 30,397,524 EFTA01075602  SURROGATE'S COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK ACCOUNTING OF File No: Leon D. Black John J. Harman as Trustees of ACCOUNTING BY: BLACK FAMILY 2006 TRUST Executor Administrator X Other [specify] Trustee TO THE SURROGATE'S COURT OF THE COUNTY OF NEW YORK: The undersigned does hereby render the account of the proceedings as follows: Period of account from December 21, 2006 to December 31, 2012 This is a first intermediate account containing the following schedules. PRINCIPAL Schedule A Principal Received 4 Schedule AA Subsequent Receipts of Principal 5 Schedule A-1 Realized Increases 6 Schedule B Realized Decreases 7 Schedule C Administration Expenses and Taxes 13 Schedule GI Unpaid Administration Expenses 17 Schedule E Distributions of Principal 18 Schedule F New Investments, Exchanges and Stock Distributions 20 Schedule G Principal Remaining on Hand 33 INCOME Schedule AA-1 Income Received 35 Schedule A-2 Income Collected 36 Schedule A-3 Realized Increases 51 Schedule B-1 Realized Decreases 52 Schedule C-2 Administration Expenses Chargeable to Income 53 Schedule Fel Distributions of Income 54 Schedule F-1 New Investments, Exchanges and Stock Distributions 56 Schedule G-1 Income Remaining on Hand 57 OTHER EFTA01075603  SUMMARY STATEMENT PRINCIPAL ACCOUNT CHARGES: Schedule "A" (Principal Received) 0.00 Schedule "AA" (Subsequent Receipts of Principal) 1.087,387,810.56 Schedule "A-1" (Realized Increases in Principal) 0.00 Total Principal Charges $ 1,087,387,810.56 CREDITS: Schedule "B" (Realized Decreases in Principal) 0.00 Schedule "C" (Administration Expenses and Taxes) 495,465.54 Schedule "E" (Distributions of Principal) 752,504,014.00 Total Principal Credits $ 752,999,479.54 Principal Balance on Hand Shown by Schedule "G" $ 334,388,331.02 INCOME ACCOUNT CHARGES: Schedule "A-2" (Income Collected) $ 393,673,530.30 Total Income Charges $ 393.673.530.30 CREDITS: Schedule "C-2" (Administration Expenses) 247,732.77 Schedule "E-1" (Distributions of Income) 212,677,369.00 Total Income Credits $ 212,925,101.77 Balance of Undistributed Income as Shown in Schedule "0-1" $ 180,748,428.53 EFTA01075604  SUMMARY STATEMENT COMBINED ACCOUNTS Principal on Hand : Cash $ (150,788,164.74) Other Property 485,176,495.76 Total S 334,388,331.02 Income on Hand : Cash $ 180,748,428.53 Other Property 0.00 Total 180,748,428.53 Total on Hand as of December 31, 2012 $ 515,136,759.55 The foregoing principal balance of 5334,388,331.02 consists of $(150,788,164.74) in cash and $485,176,495.76 in other property on hand as of the 31st day of December, 2012. It is subject to deductions of estimated principal commissions amounting to $0.00, shown in Schedule I and to the proper charge to principal of expenses of this accounting. The foregoing income balance of $180,748,428.53 consists of $180,748,428.53 in cash and $0.00 in other property on hand as of the 31st day of December, 2012. It is subject to deductions of estimated income commissions amounting to $0.00, shown in Schedule I and to the proper charge to income of expenses of this accounting. The attached schedules are part of this account. Leon D. Black Trustee John J. Hannan Trustee EFTA01075605  BLACK FAMILY 2006 TRUST Schedule A Statement of Principal Received Inventory Value None r. ; jt Page 1 (4) EFTA01075606  BLACK FAMILY 2006 TRUST Schedule AA Statement of Subsequent Receipts of Principal Date Received Inventory Value Receipts Subsequent to Inventory 04/30/2007 USTC 4548 / 5828049 $ 431,696,805.00 07/31/2007 Black Family Partners LP 460,545,600.00 07/31/2007 USTC 4548 / 5828049 2,388,409.62 08/31/2007 USTC 4548 / 5828049 5,312.31 01/01/2008 Black Family Partners LP 115,787,745.00 05/31/2008 Black Family Partners LP 20,911.63 10/31/2008 Black Family Partners LP 50,000,000.00 12/31/2008 Black Family Partners LP 20,135,706.00 12/31/2008 Black Family Partners LP 6,797,321.00 11/05/2012 Bank of America 2006 Trust Account 10,000.00 Total Receipts Subsequent To Inventory S 1,087,387,81036 Total Schedule AA $ 1,087387,81036 Page 1 (5) EFTA01075607  BLACK FAMILY 2006 TRUST Schedule A-1 Statement of Increases on Sales, Liquidation or Distribution Proceeds or Inventory Distribution Value Value Increase Total 0.00 $ 0.00 $ 0.00 None Page 1 (6) EFTA01075608  BLACK FAMILY 2006 TRUST Schedule B Statement of Decreases Duc to Sales, Liquidation, Collection, Distribution, or Uncollectibility Proceeds or Inventory Distribution Value Value Decrease Collections 07/31/2007 Black Family Partners LP $ 460,545,600.00 $ 460,545,600.00 $ 0.00 Strategic Proceeds 01/01/2008 Black Family Partners LP 115,787,745.00 115,787,745.00 0.00 05/31/2008 Black Family Partners LP 20,911.63 20,911.63 0.00 10/31/2008 Black Family Partners LP 50,000,000.00 50,000,000.00 0.00 12/31/2008 Black Family Partners LP 6,797,321.00 6,797,321.00 0.00 12/31/2008 Black Family Partners LP 20,135,706.00 20,135,706.00 0.00 12/31/2009 Black Family Partners LP 5,000,000.00 5,000,000.00 0.00 02/28/2011 Loan Payable - BPF 33,000,000.00 33,000,000.00 0.00 07/31/2012 Black Family 1997 Trust 6,000,000.00 6,000,000.00 0.00 Loan Payment of Loan 10/31/2012 Due to Black Family 125,936.47 125,936.47 0.00 Partners LP From HAO Total Collections $ 697.413.220.10 $ 697.413.220.10 $ 0.00 Distributions 12/31/2007 Black Family Partners LP $ 50,000,000.00 $ 50,000,000.00 $ 0.00 Lone Cascade 12/31/2007 Black Family Partners LP 900,000.00 900,000.00 0.00 HAO Capital Fund 12/31/2007 Black Family Partners LP 10,315,748.00 10,315,748.00 0.00 Portland Global 12/31/2007 Black Family Partners LP 32,122,793.00 32,122,793.00 0.00 Knowledge Universe 12/31/2007 Black Family Partners LP 1,992,376.00 1,992,376.00 0.00 Icrete LLC 12/31/2007 Black Family Partners LP 435,398.00 435,398.00 0.00 Apollo Fund V $ 95.766.315.00 S 95.766.315.00 $ 0.00 Page 1 (7) EFTA01075609  Schedule B (Continued) Proceeds or Inventory Distribution Value Value Decrease Distributions Total Distributions Redemptions 04/30/2007 0 Par $ 739,755,802.10 $ 739,755,802.10 $ 0.00 Commercial Paper 05/31/2007 0 Par 19,912,500.00 19,912,500.00 0.00 Commercial Paper Sale of JP Morgan Chase 05/31/2007 0 Par 449,027,211.99 449,027,211.99 0.00 Commercial Paper 05/31/2007 USTC NA MRA / BA 37,855.00 37,855.00 0.00 M/MKT 06/30/2007 0 Par 319,576,082.43 319,576,082.43 0.00 Commercial Paper 06/30/2007 USTC NA MRA / BA 5,974,924.00 5,974,924.00 0.00 M/MKT 07/31/2007 0 Par 275,613,490.57 275,613,490.57 0.00 Commercial Paper 07/31/2007 0 Par 413,904,725.68 413,904,725.68 0.00 Commercial Paper 07/31/2007 USTC NA MRA / BA 2,522,299.00 2,522,299.00 0.00 M/MKT 07/31/2007 USTC NA MRA / BA 82,966.00 82,966.00 0.00 M/MKT 08/31/2007 0 Par 469,950,839.12 469,950,839.12 0.00 Commercial Paper 08/31/2007 0 Par 520,194,272.58 520,194,272.58 0.00 Commercial Paper 08/31/2007 USTC NA MRA / BA 987,988.00 987,988.00 0.00 M/MKT 08/31/2007 USTC NA MRA / BA 46,724.00 46,724.00 0.00 M/MKT 09/30/2007 0 Par 379,562,391.47 379,562,391.47 0.00 Commercial Paper Page 2 (8) EFTA01075610  Schedule B (Continued) Proceeds or Inventory Distribution Value Value Decrease Redemptions 09/30/2007 0 Par $ 420,185,216.31 $ 420,185,216.31 $ 0.00 Commercial Paper 10/31/2007 0 Par 514,700,332.12 514,700,332.12 0.00 Commercial Paper 10/31/2007 0 Par 440,733,571.22 440,733,571.22 0.00 Commercial Paper 10/31/2007 USTC NA MRA / BA 254.00 254.00 0.00 M/MKT 10/31/2007 USTC NA MRA / BA 3,903,671.00 3,903,671.00 0.00 M/MKT 10/31/2007 USTC NA MRA / BA 2,166,769.00 2,166,769.00 0.00 M/MKT 11/30/2007 16,700,000 Par 16,700,000.00 16,700,000.00 0.00 American Express Credit Corp 11/30/2007 0 Par 469,382,492.58 469,382,49238 0.00 Commercial Paper 11/30/2007 0 Par 384,232,137.76 384,232,137.76 0.00 Commercial Paper 11/30/2007 USTC NA MRA / BA 40,465.00 40,465.00 0.00 M/MKT 11/30/2007 USTC NA MRA / BA 3,807.00 3,807.00 0.00 M/MKT 12/31/2007 5,800,000 Par 5,800,000.00 5,800,000.00 0.00 American Express Credit Corp 12/31/2007 0 Par 373,600,899.05 373,600,899.05 0.00 Commercial Paper 12/31/2007 0 Par 30,171,202.95 30,171,202.95 0.00 Commercial Paper 12/31/2007 0 Par 325,388,125.33 325,388,125.33 0.00 Commercial Paper Page 3 (9) EFTA01075611  Schedule B (Continued) Proceeds or Inventory Distribution Value Value Decrease Redemptions 12/31/2007 USTC NA MRA / BA $ 31,534.00 $ 31,534.00 $ 0.00 M/MKT 12/31/2007 USTC NA MRA / BA 22,528.00 22,528.00 0.00 M/MKT 01/31/2008 0 Par 350,812,693.73 350,812,693.73 0.00 Commercial Paper 01/31/2008 0 Par 224,683,393.61 224,683,393.61 0.00 Commercial Paper 01/31/2008 USTC NA MRA / BA 4,035,726.00 4,035,726.00 0.00 M/MKT 01/31/2008 USTC NA MRA / BA 5,366,660.00 5,366,660.00 0.00 M/MKT 02/29/2008 0 Par 305,591,471.52 305,591,471.52 0.00 Commercial Paper 02/29/2008 0 Par 202,075,657.09 202,075,657.09 0.00 Commercial Paper 02/29/2008 USTC NA MRA / BA 30,785.00 30,785.00 0.00 M/MKT 02/29/2008 USTC NA MRA/ BA 5,292.00 5,292.00 0.00 M/MKT 03/01/2008 0 Par 290,634,601.22 290,634,601.22 0.00 Commercial Paper 03/31/2008 0 Par 417,194,080.21 417,194,080.21 0.00 Commercial Paper 04/30/2008 18,000,000 Par 18,000,000.00 18,000,000.00 0.00 American Express Credit Corp 04/30/2008 4,000,000 Par 4,000,000.00 4,000,000.00 0.00 American Express Credit Corp 04/30/2008 0 Par 43,185,957.19 43,185,957.19 0.00 Commercial Paper Page 4 (10) EFTA01075612  Schedule B (Continued) Proceeds or Inventory Distribution Value Value Decrease Redemptions 04/30/2008 0 Par $ 196,478,895.98 $ 196,478,895.98 $ 0.00 Commercial Paper 04/30/2008 0 Par 127,648,117.20 127,648,117.20 0.00 Commercial Paper 04/30/2008 0 Par 91,525,233.00 91,525,233.00 0.00 Commercial Paper 04/30/2008 0 Par 47,878,284.48 47,878,284.48 0.00 Commercial Paper 04/30/2008 USTC NA MRA / BA 22,349,714.00 22,349,714.00 0.00 WMKT 04/30/2008 USTC NA MRA / BA 46,410.00 46,410.00 0.00 M/MKT 04/30/2008 USTC NA MRA / BA 76,088.00 76,088.00 0.00 M/MKT 04/30/2008 USTC NA MRA / BA 14,646,599.00 14,646,599.00 0.00 NI/ma 05/31/2008 4,700,000 Par 4,700,000.00 4,700,000.00 0.00 American Express Credit Corp 05/31/2008 0 Par 185,170,403.45 185,170,403.45 0.00 Commercial Paper 06/30/2008 0 Par 167,437,127.02 167,437,127.02 0.00 Commercial Paper 07/31/2008 0 Par 80,968,835.51 80,968,835.51 0.00 Commercial Paper 08/31/2008 0 Par 209,777,591.36 209,777,591.36 0.00 Commercial Paper 09/30/2008 0 Par 122,423,468.85 122,423,468.85 0.00 Commercial Paper 10/31/2008 0 Par 109,444,626.00 109,444,626.00 0.00 Commercial Paper 11/30/2008 0 Par 20,212,466.12 20,212,466.12 0.00 Commercial Paper Page 5 EFTA01075613  Schedule B (Continued) Proceeds or Inventory Distribution Value Value Decrease Redemptions 12/31/2008 Black Family Partners LP $ 46,812,983.41 $ 46,812,983.41 $ 0.00 12/31/2008 0 Par 25,062,209.39 25,062,209.39 0.00 Commercial Paper Total Redemptions $ 9.922.488.447.6Q S9.922.488.447.60 $ 0.00 Returns of Principal 08/31/2008 Apollo Credit Opp Fund I $ 4,001,054.00 $ 4,001,054.00 $ 0.00 Return of Capital Total Returns of Principal $ 4.001.054.00 $ 4.001.054.00 $ 0.00 Total Schedule B S 0 719 669 036.70 $0.719.669.036.70 $ 0.00 Page 6 (12) EFTA01075614  BLACK FAMILY 2006 TRUST Schedule C Statement of Administration Expenses Charged to Principal Administration Expenses Empire Valuation 06/30/2012 Valuation Services $ 10,000.00 Total 10,000.00 Interest Expense 01/31/2012 Black Family Partners LP 28,671.78 07/31/2012 Black Family Partners LP 42,253.15 10/31/2012 Black Family Partners LP 8,342.00 12/31/2012 Black Family Partners LP 164,318.00 Total 243,584.93 Reclassification 12/31/2012 Reclassification of Expenses to Income (247,732.77) Total (247,732.77) US Trust Co 05/31/2009 S 615.75 06/30/2009 (365.75) 03/31/2012 Liabilty Hold on Account 1.00 Total 251.00 Total 6,103.16 Fees and Commissions US Trust Co 06/29/2007 66,890.03 09/28/2007 82,045.97 09/28/2007 71,366.72 Page 1 (13) EFTA01075615  Schedule C (Continued) Fees and Commissions US Tryst Co 12/31/2007 $ 82,375.35 12/31/2007 74,859.62 12/31/2007 Allocation of expense to Black Family Partners (153,326.34) 03/31/2008 76,129.81 03/31/2008 62,586.70 04/30/2008 25,454.93 04/30/2008 20,911.63 05/31/2008 22,351.59 06/30/2008 2.96 06/30/2008 21,953.14 1 F. 07/31/2008 1,666.66 07/31/2008 21,957.36 08/31/2008 2.76 08/31/2008 21,973.19 09/30/2008 21,026.88 10/31/2008 16,244.95 11/30/2008 10,649.12 Page 2 (14) EFTA01075616  Schedule C (Continued) Fees and Commissions US Trust Co 11/30/2008 S 1,666.67 12/31/2008 Reversal of Expense (1,666.67) 12/31/2008 10,663.61 12/31/2008 Allocation of Expense to Black Family Partners (84,858.29) 02/28/2009 5.37 03/31/2009 5.38 04/30/2009 5.38 05/31/2009 5.38 06/30/2009 5.38 07/31/2009 499.73 08/31/2009 499.74 09/30/2009 2,249.75 10/31/2009 2,249.62 11/30/2009 2,796.75 12/31/2009 2,796.73 01/31/2010 4,377.89 09/30/2010 464.12 Page 3 (15) EFTA01075617  Schedule C (Continued) Fees and Commissions US Trust Co 12/31/2010 $ 472.81 07/31/2011 535.50 08/31/2011 Reversal of Expense (0.07) 10/31/2011 Reversal of Expense (535.43) Total 489,362.38 Total 489,362.38 Total Schedule C S 495 465.54 Page 4 (16) EFTA01075618  BLACK FAMILY 2006 TRUST Schedule C-1 Statement of Unpaid Administration Expenses None Page 1 (17) EFTA01075619  BLACK FAMILY 2006 TRUST Schedule F. Statement of Distributions of Principal Distribution Value Annuity Payments - Judah Trusts B-.1 12/31/2007 Cash $ 284,725,234.00 Annuity Payments to Judah Trusts 12/31/2008 Cash 341,670,279.00 Annuity Payments to Judah Trusts Total To Or For Beneficiary $ 626,395,513.00 Benjamin Black 04/30/2012 Cash 120,000.00 Total To Or For Beneficiary 120,000.00 Leon Black 05/31/2007 Cash $ 50,000,000.00 08/31/2007 Cash 100,000,000.00 09/30/2007 Cash 20,000,000.00 11/30/2007 Cash 70,000,000.00 12/31/2007 Cash (284,725,234.00) Reclassification of Distribution for Annuity 12/31/2007 Cash 3,700,295.00 Non-taxable interest income from Grantor 12/31/2007 Cash (5,222,186.00) Reclassification of Distribution BFP 12/31/2007 Cash (25,000,000.00) Reclassification of Distribution BFP 12/31/2007 Cash 56,247,125.00 12/31/2007 Cash 15,000,000.00 12/31/2008 Cash (177,450,265.00) Reclassification of Distribution for Annuity 12/31/2008 Cash 62,655,162.08 Page 1 (18) EFTA01075620  Schedule E (Continued) Distribution Value Leon Black (Continued) 12/31/2008 Cash $ 114,795,102.92 Total To Or For Beneficiary 0.00 Payments on Behalf of Black Family Partners I 12/31/2007 Black Family Partners LP $ 50,000,000.00 I Lone Cascade 12/31/2007 Black Family Partners LP 900,000.00 HAO Capital Fund 12/31/2007 Black Family Partners LP 10,315,748.00 Portland Global 12/31/2007 Black Family Partners LP 32,122,793.00 Knowledge Universe 12/31/2007 Black Family Partners LP 1,992,376.00 Icrete LLC 12/31/2007 Black Family Partners LP 435,398.00 Apollo Fund V 12/31/2007 Cash 25,000,000.00 12/31/2007 Cash 5,222,186.00 Total To Or For Beneficiary $ 125,988,501.00 Total Distributions of Principal to Beneficiaries $ 752,504,014.00 Total Schedule E S 752,504,014.00 f 1 Page 2 (19) EFTA01075621  BLACK FAMILY 2006 TRUST Schedule F Statement of New Investments, Exchanges and Stock Distributions Inventory Value New Investments American Express Credit Corp 06/30/2007 5,000,000 Par Purchased $ 5,000,000.00 07/31/2007 8,000,000 Par Purchased 8,000,000.00 08/31/2007 4,600,000 Par Purchased 4,600,000.00 08/31/2007 18,000,000 Par Purchased 18,000,000.00 09/30/2007 400,000 Par Purchased 400,000.00 11/30/2007 4,500,000 Par Purchased 4,500,000.00 12/31/2007 4,000,000 Par Purchased 4,000,000.00 04/30/2008 4,700,000 Par Purchased 4,700,000.00 Apollo Credit Opp Fund I 04/30/2008 Purchased 75,150,000.00 06/30/2008 Purchased 593,443.00 08/31/2008 Purchased 7,114,069.00 10/31/2008 Purchased 2,396,762.00 12/31/2008 Purchased 42,906,833.00 03/31/2010 Purchased 2,942,657.00 04/30/2010 Purchased 16,291,281.00 Apollo Inv V 05/31/2008 Purchased 9,992,240.00 12/31/2008 Purchased 617,752.72 12/31/2008 Purchased 966.53 12/31/2009 Purchased 674,569.00 Artwork - "Gun Powder on Paper" 01/31/2012 Purchased 566,150.00 Page 1 (20) EFTA01075622  Schedule F (Continued) Inventory Value New Investments Artwork - "Matisse Nu De Dos" 12/31/2010 Purchased S 2,000,000.00 02/28/2011 Purchased 53,133,721.88 Artwork - "The Sword" 12/31/2011 Purchased 2,850,000.00 Artwork- Head of a Woman (Fernande) 1909 11/30/2012 Purchased 7,500,000.00 Artwork - Picasso 05/31/2012 Purchased 1,350,000.00 Black Family Partners LP 05/31/2007 Purchased 32,000.00 05/31/2007 Purchased 31,968,000.00 08/09/2007 Purchased 435,398.00 11/30/2007 Purchased 10,000,000.00 12/31/2007 Purchased 2,000,000.00 12/31/2007 Purchased 900,000.00 12/31/2007 Purchased 50,000,000.00 12/31/2007 Purchased 430,917.00 04/30/2008 Purchased 3,993,734.17 04/30/2008 Purchased 456,829.72 04/30/2008 Purchased 539.60 04/30/2008 Purchased 47,878,284.48 04/30/2008 Purchased 150,000,000.00 Loan Receivable 08/31/2008 Purchased 42.16 08/31/2008 Purchased 22,086.20 08/31/2008 Purchased 20,000,000.00 10/31/2008 Purchased 60,000,000.00 Page 2 (21) EFTA01075623  Schedule F (Continued) Inventory Value New Investments 12/31/2008 Purchased $ 85,170.71 12/31/2009 Purchased 6,242,871.00 12/31/2009 Purchased 5,041,180.00 Commercial Paper 04/30/2007 Purchased 1,168,547,069.70 05/31/2007 Purchased 381,300,542.68 06/30/2007 Purchased 321,961,241.80 07/31/2007 Purchased 274,176,698.45 07/31/2007 Purchased 872,818,847.88 08/31/2007 Purchased 468,380,966.00 08/31/2007 Purchased 403,584,956.80 09/30/2007 Purchased 377,035,951.38 09/30/2007 Purchased 400,369,133.17 10/31/2007 Purchased 444,397,590.46 10/31/2007 Purchased 520,221,814.24 11/30/2007 Purchased 466,669,034.58 11/30/2007 Purchased 316,013,613.02 12/31/2007 Purchased 314,680,559.19 12/31/2007 Purchased 285,267,966.87 01/31/2008 Purchased 356,225,892.67 01/31/2008 Purchased 230,895,702.35 02/29/2008 Purchased 305,025,531.56 02/29/2008 Purchased 202,203,75931 03/01/2008 Purchased 279,876,768.59 03/31/2008 Purchased 397,682,729.22 04/30/2008 Purchased 200,835,402.76 04/30/2008 Purchased 83,826,215.22 05/31/2008 Purchased 161,074,218.56 06/30/2008 Purchased 124,656,635.74 Page 3 (22) EFTA01075624  Schedule F (Continued) Inventory Value New Investments 07/31/2008 Purchased $ 140,219,410.16 08/31/2008 Purchased 126,322,336.60 09/30/2008 Purchased 106,222,331.11 10/31/2008 Purchased 8,394,610.00 11/30/2008 Purchased 18,190,342.72 12/31/2008 Purchased 6,872,179.17 12/31/2008 Purchased 146,354.23 Loan Receivable - 2009 Family Trust 08/31/2010 Purchased 5,825,000.00 08/31/2011 Purchased 6,982,000.00 08/31/2012 Purchased 8,382,350.00 Total New Investments 18,450,053,254.36 Exchanges and Stock Distributions American Express Credit Corp 06/30/2007 5,000,000 Par Purchased 5,000,000.00 07/31/2007 8,000,000 Par Purchased 8,000,000.00 08/31/2007 4,600,000 Par Purchased 4,600,000.00 08/31/2007 18,000,000 Par Purchased 18,000,000.00 09/30/2007 400,000 Par Purchased 400,000.00 36,000,000 Par On Hand $ 36,000,000.00 11/30/2007 (16,700,000) Par Redeemed (16,700,000.00) sec sch. B 11/30/2007 4,500,000 Par Purchased 4,500,000.00 23,800,000 Par On 1-land $ 23,800,000.00 12/31/2007 (5,800,000) Par Redeemed (5,800,000.00) see sch. B 12/31/2007 4,000,000 Par Purchased 4,000,000.00 22,000,000 Par On I land $ 22,000,000.00 Page 4 (23) EFTA01075625  Schedule F (Continued) Inventory