FORM 11-K
 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

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

þ   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2008

o   TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

FOR THE TRANSITION PERIOD FROM                      TO                     

COMMISSION FILE NUMBER 1-12001

ROME METALS, LLC EMPLOYEES’ 401(k) AND
PROFIT SHARING PLAN
(Title of Plan)

ALLEGHENY TECHNOLOGIES INCORPORATED

(Name of Issuer of securities held pursuant to the Plan)

1000 Six PPG Place, Pittsburgh, Pennsylvania 15222-5479

(Address of Plan and principal executive offices of Issuer)
 
 


 

Audited Financial Statements and Supplemental Schedule
Rome Metals, LLC Employees’ 401(k) and Profit Sharing Plan
Years Ended December 31, 2008 and 2007
With Report of Independent Registered Public Accounting Firm

 


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Audited Financial Statements
and Supplemental Schedule
Years Ended December 31, 2008 and 2007
Contents
         
    1  
 
       
Audited Financial Statements
       
 
       
    2  
    3  
    4  
 
       
Supplemental Schedule
       
 
       
    12  
 
       
    15  

 


 

Report of Independent Registered Public Accounting Firm
Allegheny Technologies Incorporated
We have audited the accompanying statements of net assets available for benefits of the Rome Metals, LLC Employees’ 401(k) and Profit Sharing Plan as of December 31, 2008 and 2007, and the related statements of changes in net assets available for benefits for the years then ended. 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. We were not engaged to perform an audit of the Plan’s 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 also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and 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 at December 31, 2008 and 2007, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2008 is presented for purposes of additional analysis and is not a required part of the 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. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.
/s/ Ernst & Young LLP
Pittsburgh, Pennsylvania
June 25, 2009

-1-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Statements of Net Assets Available for Benefits
                 
    December 31
    2008   2007
     
 
               
Investments at fair value:
               
Interest in registered investment companies
  $ 1,872,360     $ 3,240,878  
Interest in synthetic investment contracts
    1,419,690       1,689,736  
Interest in common collective trusts
    1,236,244       2,119,891  
Participant loans
    562,513       366,729  
Interest-bearing cash and cash equivalents
    124,360       88,858  
Corporate common stocks
    81,768       24,544  
     
Total investments at fair value
    5,296,935       7,530,636  
 
               
Receivables
    925,003       4,935  
     
Net assets available reflecting investments at fair value
    6,221,938       7,535,571  
Adjustment from fair value to contract value for fully benefit-responsive investment contracts
    92,334       6,049  
     
Net assets available for benefits
  $ 6,314,272     $ 7,541,620  
     
See accompanying notes.

-2-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Statement of Changes in Net Assets Available for Benefits
                 
    Years Ended December 31
    2008   2007
     
 
               
Contributions:
               
Employer
  $ 925,003     $ 1,101,653  
Employee
    88,476       67,525  
     
Total contributions
    1,013,479       1,169,178  
 
               
Investment income (loss):
               
Net gain (loss) from interest in registered investment companies
    (1,169,684 )     293,496  
Net gain (loss) from interest in common collective trusts
    (621,847 )     11,785  
Net unrealized/realized loss on corporate common stocks
    (118,973 )     (1,513 )
Interest income
    63,354       32,980  
Other income
    40,898       16,401  
     
Total investment income (loss)
    (1,806,252 )     353,149  
     
 
    (792,773 )     1,522,327  
 
               
Distributions to participants
    (434,575 )     (219,557 )
Administrative expenses and other, net
          (29,376 )
     
 
    (434,575 )     (248,933 )
 
               
Net increase (decrease) in net assets available for benefits
    (1,227,348 )     1,273,394  
Net assets available for benefits at beginning of year
    7,541,620       6,268,226  
     
Net assets available for benefits at end of year
  $ 6,314,272     $ 7,541,620  
     
See accompanying notes.

-3-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements
December 31, 2008
1. Significant Accounting Policies
Use of Estimates and Basis of Accounting
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
The financial statements are prepared under the accrual basis of accounting.
Investment Valuation
Investments are reported at fair value. As described in Financial Accounting Standards Board Staff Position (FSP) AAG INV-1 and SOP 94-4-1, “Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans”, fully benefit-responsive investment contracts held by a defined contribution plan are required to be reported at fair value in the Plan’s Statement of Net Assets Available for Benefits with a corresponding adjustment to reflect these investments at contract value.
2. Description of the Plan
The Rome Metals, LLC Employees’ 401(k) and Profit Sharing Plan (the Plan) is a defined contribution plan and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Rome Materials, LLC (the Plan Sponsor or the Company) is an indirect, wholly-owned subsidiary of Allegheny Technologies Incorporated (the Plan Administrator).
The purpose of the Plan is to provide retirement benefits to eligible employees through Company contributions and to encourage employee thrift by permitting eligible employees to defer a part of their compensation and contribute such deferral to the Plan. The Plan allows employees to contribute a portion of eligible wages each pay period through payroll deductions subject to Internal Revenue Code limitations.
The Company also contributes an amount from its current or accumulated profits for each Plan Year as determined by its Board of Directors. The Board of Directors, in its sole discretion, may choose to make contributions without regard to its current or accumulated profits for the Plan Year. The determination of Company contributions for employees in the collective bargaining unit represented by the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers AFL-CIO, CLC, are subject to the terms of the collective bargaining agreement effective May 31, 2008.

-4-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
2. Description of the Plan (continued)
The Plan allows participants to direct their contributions, and contributions made by the Company, to any of the investment alternatives. Unless otherwise specified by the participant, contributions: (i) that were made prior to September 17, 2007 were made to the Stable Asset Fund, and (ii) that were made on and after September 17, 2007 are made to State Street Global Advisors Target Retirement Fund that most closely matches the participant’s 65th birthday date (e.g., State Street Target Retirement 2020 SL Series Fund). Separate accounts are maintained by the Plan Sponsor for each participating employee. Trustee fees and asset management fees charged by the Plan’s trustee, Sky Bank, N.A., prior to September 1, 2007 and thereafter Mercer Trust Company, for the administration of all funds are charged against net assets available for benefits of the respective fund. Certain other expenses of administering the Plan may be paid by the Plan Sponsor.
Participants may make “in-service” and hardship withdrawals as outlined in the plan document.
Participants are always fully vested in that portion of their participant account balance derived from their own contributions. The portion derived from Company contributions vest based upon the employee’s years of service, as follows:
                 
Years           Amount of Vesting
 
 
               
Fewer than 2
            0 %
2 but fewer than 3
            20 %
3 but fewer than 4
            40 %
4 but fewer than 5
            60 %
5 but fewer than 6
            80 %
6 or more
            100 %
Active employees can borrow up to 50% of their vested account balances minus any outstanding loans. The loan amounts are further limited to a minimum of $500 and a maximum of $50,000, and an employee can obtain no more than three loans at one time. Interest rates are determined based on commercially accepted criteria, and payment schedules vary based on the type of the loan. General-purpose loans are repaid over 6 to 60 months, and primary residence loans are repaid over periods up to 180 months. Payments are made by payroll deductions.
Further information about the Plan, including eligibility, vesting, contributions, and withdrawals, is contained in the plan document, summary plan description, and related contracts. These documents are available from the Plan Sponsor.

-5-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
3. Investments
On September 1, 2007, as part of a change in the administration of the Plan, including changing the record-keeper to Mercer Human Resources from Sky Bank, N.A., and changing the trustee to Mercer Trust Company from Sky Bank, N.A., the investment options available to participants under the Plan were changed.
The Mellon Stable Value Fund invests in guaranteed investment contracts (GICs) and actively managed structured or synthetic investment contracts (SICs). The GICs are promises by a bank or insurance company to repay principal plus a fixed rate of return through contract maturity. SICs differ from GICs in that there are specific assets supporting the SICs and these assets are owned by the Plan. The bank or insurance company issues a wrapper contract that allows participant-directed transactions to be made at contract value. The assets supporting the SICs are comprised of government agency bonds, corporate bonds, asset-backed securities (ABOs), collateralized mortgage obligations (CMOs), and common/collective trusts.
Interest crediting rates on the GICs in the Fund are determined at the time of purchase. Interest crediting rates on the SICs are either: (1) set at the time of purchase for a fixed term and crediting rate, (2) set at the time of purchase for a fixed term and variable crediting rate, or (3) set at the time of purchase and reset monthly within a “constant duration.” A constant duration contract may specify a duration of 2.5 years and the crediting rate is adjusted monthly based upon quarterly rebalancing of eligible 2.5 year duration investment instruments at the time of each resetting; in effect the contract never matures. At December 31, 2008 and 2007, the interest crediting rates for Fixed Maturity SICs ranged from 4.12% to 5.04% and 4.30% to 5.32%, respectively.
The following presents investments that represent 5% or more of the Plan’s net assets:
                 
    Years Ended December 31
    2008   2007
     
 
               
American Funds Growth Fund of America
  $ 729,913     $ 1,274,627  
MSIF Small Company Growth Fund
    423,867       857,669  
Alliance Bernstein Small Mid Cap Value Fund
    373,135       657,253  
Participant Loans*
    562,513       366,729  
State Street Global Advisers S&P 500 Flagship SL Fund**
    279,831       611,514  
 
*   Prior year presented for comparative purposes only
 
**   Current year presented for comparative purposes only

-6-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
3. Investments (continued)
Investments in SICs at contract value that represent 5% of more of the Plan’s net assets were as follows:
                 
    Years Ended December 31
    2008   2007
     
 
               
Monumental Life Ins. Co. Constant Duration SIC
  $ 401,292     $ 409,572  
Rabobank Constant Duration SIC
    391,805       416,589  
Average yields for all fully benefit-responsive investment contracts were as follows:
                 
    Years Ended December 31
    2008   2007
     
Average yields:
               
 
Based on actual earnings
    4.67 %     4.72 %
Based on interest rate credited to participants
    4.56 %     4.57 %
Although it is management’s intention to hold the investment contracts in the Standish Mellon Stable Value Fund until maturity, certain investment contracts provide for adjustments to contract value for withdrawals made prior to maturity.
4. Fair Value Measurements
The Plan adopted FASB Statement No. 157, “Fair Value Measurements” (FAS 157), as required, on January 1, 2008. This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value, and requires additional disclosures about the use of fair value measurements. Specifically, FAS 157:
  Defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework for measuring fair value;
 
  Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date;
 
  Eliminates large position discounts for financial instruments quoted in active markets; and
 
  Expands disclosures about instruments measured at fair value.

-7-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
Determination of Fair Value
Following is a description of the Plan’s valuation methodologies for assets and liabilities measured at fair value. Such valuation methodologies were applied to all of the assets and liabilities carried at fair value effective January 1, 2008. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, fair value is based upon models that primarily use, as inputs, market-based or independently-sourced market parameters, including yield curves, interest rates, volatilities, equity or debt prices, foreign exchange rates and credit curves. In addition to market information, models may also incorporate transaction details, such as maturity. Valuation adjustments, such as liquidity valuation adjustments, may be necessary when the Plan is unable to observe a recent market price for a financial instrument that trades in inactive (or less active) markets. Liquidity adjustments are not taken for positions classified within level 1 (as defined below) of the fair value hierarchy.
The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.
Valuation Hierarchy
FAS 157 established a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of the inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:
Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets and liabilities in active markets.
Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
Level 3 — inputs to the valuation methodology are unobservable and significant to the valuation measurement.
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

-8-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
Valuation methodologies
The valuation methodologies used for assets and liabilities measured at fair value, including their general classification based on the fair value hierarchy, includes the following:
  Cash and cash equivalents — where the Net Asset Value (NAV) is a quoted price in a market that is active, it is classified within level 1 of the valuation hierarchy. In certain cases NAV is a quoted price in a market that is not active, or is based on quoted prices for similar assets and liabilities in active markets, and these investments are classified within level 2 of the valuation hierarchy.
 
  Corporate common stocks — are valued at the closing price reported on the major market on which the individual securities are traded. Substantially all other common stock is classified within level 1 of the valuation hierarchy.
 
  Common/collective trust funds — these investments are public investment vehicles valued using the NAV provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in a market that is not active and classified within level 2 of the valuation hierarchy.
 
  Registered investment companies — these investments are public investment vehicles valued using the NAV provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. Where the NAV is a quoted price in a market that is active, it is classified within level 1 of the valuation hierarchy. In certain cases NAV is a quoted price in a market that is not active, or is based on quoted prices for similar assets and liabilities in active markets, and these investments are classified within level 2 of the valuation hierarchy.
 
  Corporate debt instruments, U.S. government and federal agency obligations, U.S. government-sponsored entity obligations, and other — where quoted prices are available in an active market, the investments are classified within level 1 of the valuation hierarchy. If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. When quoted market prices for the specific security are not available in an active market, they are classified within level 2 of the valuation hierarchy.

-9-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
4. Fair Value Measurements (continued)
  Synthetic investment contracts — fair value is based on the underlying investments. The underlying investments include government agency bonds, corporate bonds, ABOs, CMOs, and common/collective trusts. Because inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, or in the case of common/collective trusts the NAV is a quoted price in a market that is not active, synthetic investment contracts are classified within level 2 of the valuation hierarchy.
 
  Loans to plan participants — valued at cost plus accrued interest, which approximates fair value and are classified within level 2 of the valuation hierarchy.
The following table presents the financial instruments carried at fair value as of December 31, 2008, by caption on the statement of net assets available for benefits and by FAS 157 valuation hierarchy (as described above). The Plan had no assets classified within level 3 of the valuation hierarchy.
Assets measured at fair value on a recurring basis:
                         
    Level 1     Level 2     Total  
     
December 31, 2008
                       
Interest in registered investment companies
  $ 1,872,360     $     $ 1,872,360  
Interest in synthetic investment contracts
          1,419,690       1,419,690  
Interest in common collective trusts
          1,236,244       1,236,244  
Corporate common stock
    81,768             81,768  
Interest-bearing cash and cash equivalents
    96,741       27,619       124,360  
Participant loans
          562,513       562,513  
     
Total assets at fair value
  $ 2,050,869     $ 3,246,066     $ 5,296,935  
     
5. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service dated August 2, 2000, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the Code) and, therefore, the related trust is exempt from taxation. Subsequent to this issuance of the determination letter, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Administrator believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan, as amended, is qualified and the related trust is tax-exempt.

-10-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
Notes to Financial Statements (continued)
6. Plan Termination
Although it has not expressed any intent to do so, the employing companies have the right under the Plan to discontinue their contributions at any time and to terminate their respective participation in the Plan subject to the provisions of ERISA. However, no such action may deprive any participant of any vested right.
7. Risks and Uncertainties
The Plan invests in various investment securities. Investment securities are exposed to various risk such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.
8. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2008:
         
Net assets available for benefits per the financial statements
  $ 6,314,272  
Deemed distribution of benefits to participants
    (16,912 )
 
     
Net assets available for benefits per the Form 5500
  $ 6,297,360  
 
     
The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500 for the year ended December 31, 2008.
         
Benefits paid to participants per the financial statements
  $ 434,575  
Add: Amounts allocated on Form 5500 to deemed distributions for the year ended December 31, 2008
    16,912  
 
     
Benefits paid to participants per the Form 5500
  $ 451,487  
 
     

-11-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
EIN: 91-1821596 Plan: 045
Schedule H, Line 4i—Schedule of Assets (Held at End of Year)
December 31, 2008
         
Description   Current Value  
 
 
       
Registered investment companies
       
Alliance Bernstein Small Mid Cap Value Fund
  $ 373,135  
American Funds Europacific Growth Fund
    162,913  
American Funds Growth Fund of America
    729,913  
MFS Value Fund
    115,710  
Lord Abbett Mid Cap Value Fund
    1,264  
MSIF Small Company Growth Fund
    423,867  
Western Asset Core Plus Bond Fund
    65,558  
 
     
Total registered investment company
  $ 1,872,360  
 
     
 
       
Corporate Common Stock
       
Allegheny Technologies Incorporated*
  $ 81,768  
 
     
 
       
Interest-Bearing Cash & Cash Equivalents
       
Mellon Trust of New England TIF Fund
  $ 96,741  
Natixis Financial
    27,619  
Adjustment from fair to book value
    (188 )
 
     
 
  $ 124,172  
 
     
 
       
Common Collective Trusts
       
Mellon Stable Value Fund
  $ 31,460  
Adjustment from fair to book value
    1,480  
State Street Global Advisors Target Retirement Income SL Series Fund
    124,662  
State Street Global Advisors Target Retirement Income 2010 SL Series Fund
    77,590  
State Street Global Advisors Target Retirement Income 2015 SL Series Fund
    37,238  
State Street Global Advisors Target Retirement Income 2020 SL Series Fund
    99,563  
State Street Global Advisors Target Retirement Income 2025 SL Series Fund
    114,532  
State Street Global Advisors Target Retirement Income 2030 SL Series Fund
    113,669  
State Street Global Advisors Target Retirement Income 2035 SL Series Fund
    72,843  
State Street Global Advisors Target Retirement Income 2040 SL Series Fund
    119,403  
State Street Global Advisors Target Retirement Income 2045 SL Series Fund
    36,964  
State Street Global Advisors Target Retirement Income 2050 SL Series Fund
    810  
State Street Global Advisors S&P500 Flagship SL Fund
    279,831  
State Street Global Advisors MSCI ACWI Ex-US Index SL Series Fund
    127,679  
 
     
 
  $ 1,237,724  
 
     
 
       
Fixed Maturity Synthetic Contracts:
       
CMBS, BACM 2002-2 A3
  $ 12,565  

-12-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
EIN: 91-1821596 Plan: 045
Schedule H, Line 4i—Schedule of Assets (Held at End of Year)
December 31, 2008
         
Description   Current Value  
 
 
       
CMBS, BACM 2005-3 A3A
    13,728  
Fannie Mae, FNR 2002-74 LC
    1,035  
Freddie Mac, FHR 2627 BU
    23,011  
Freddie Mac, FHR 2640 TL
    11,585  
Freddie Mac, FHR 2715 ND
    14,728  
Freddie Mac, FHR 2760 EB
    13,253  
Freddie Mac, FHR 2786 PC
    6,857  
Freddie Mac, FHR 2865 PQ
    20,389  
Freddie Mac, FHR 2866 XD
    20,438  
Freddie Mac, FHR 2870 BD
    13,740  
Freddie Mac, FHR 2888 OW
    9,685  
GNMA Project Loans, GNR 06-51 A
    15,192  
Auto Valet 2008-2 A3A
    20,127  
Bank of America, N.A. Wrap contract
    2,046  
 
     
Bank of America, N.A. Fixed Maturity Synthetic Contract 03-040
    198,379  
 
       
Auto, BASAT 06-G1 A4
    19,855  
CMBS, CDCMT 2002-FX1D1895488.82
    12,776  
Rate Redu Bonds, CNP05-1 A2
    20,250  
Freddie Mac, FHR 2631 LB
    9,273  
Freddie Mac, FHR 2681 PC
    17,592  
Freddie Mac, FHR 2778 KR
    6,844  
Freddie Mac, FHR 2981 NB
    15,816  
Freddie Mac, FHR 2891 NB
    13,810  
CMBS, MLMT 05-CIP1 A2
    24,691  
CMBS, MLMT 05-CKI1 A2
    12,236  
CMBS, CD05-CD1 A2 FX
    6,178  
State Street Bank Wrap contract
    5,208  
 
     
State Street Bank Fixed Maturity Synthetic Contract 105028
    164,529  
 
       
CMBS, BSCMS 05-T18 A2
    9,587  
CMBS, BSCMS 99-WF2 A2
    8,728  
CMBS, BSCMS 03-T12 A2
    1,351  
Freddie Mac, FHR 2663 ML
    23,924  
Freddie Mac, FHR 2763 PC
    17,990  
Freddie Mac, FHR 2921 NV
    10,227  
Freddie Mac, FHR 2934 OC
    13,831  
CMBS, HFCMC 99-PH1 A2
    1,326  
CMBS, JPMCC 05-LDP2 A2
    12,413  
CMBS, MSC 99-CAM1 A4
    376  
Auto, NALT 06-A A4
    26,764  

-13-


 

Rome Metals, LLC Employees’ 401(k) and
Profit Sharing Plan
EIN: 91-1821596 Plan: 045
Schedule H, Line 4i—Schedule of Assets (Held at End of Year)
December 31, 2008
         
Description   Current Value  
 
 
       
Auto, VWALT 06-A A4
    10,124  
Natixis Financial Products Wrap contract
    1,980  
 
     
Natixis Financial Products Fixed Maturity Synthetic Contract #1245-01
    138,621  
 
     
Total Fixed Maturity Synthetic Contracts
  $ 501,529  
 
     
 
       
Constant Duration Synthetic Contracts:
       
Barclays Global Investors, 1-3 Year Government Bond Index Fund
  $ 15,196  
Barclays Global Investors, Asset-Backed Sec Index Fund
    104,072  
Barclays Global Investors, Comm Mortgage-Backed Sec Fund
    31,650  
Barclays Global Investors, Int Term Credit Bond Index Fund
    94,714  
Barclays Global Investors, Int Term Government Bond Index Fund
    36,447  
Barclays Global Investors, Long Term Government Bond Index Fund
    8,895  
Barclays Global Investors, Mortgage-Backed Sec Index Fund
    78,132  
Monumental Life Ins. Co. Wrap contract
    32,186  
 
     
Monumental Life Ins. Co. Constant Duration Synthetic Contract MDA00413TR
    401,292  
 
       
Barclays Global Investors, 1-3 Year Government Bond Index Fund
    14,802  
Barclays Global Investors, Asset-Backed Sec Index Fund
    101,384  
Barclays Global Investors, Comm Mortgage-Backed Sec Fund
    30,829  
Barclays Global Investors, Int Term Credit Bond Index Fund
    92,257  
Barclays Global Investors, Int Term Government Bond Index Fund
    35,501  
Barclays Global Investors, Long Term Government Bond Index Fund
    8,664  
Barclays Global Investors, Mortgage-Backed Sec Index Fund
    76,104  
Rabobank Wrap contract
    32,264  
 
     
Rabobank Constant Duration Synthetic Contract ATI060301
    391,805  
 
       
Barclays Global Investors, 1-3 Year Government Bond Index Fund
    8,182  
Barclays Global Investors, Asset-Backed Sec Index Fund
    56,039  
Barclays Global Investors, Comm Mortgage-Backed Sec Fund
    17,042  
Barclays Global Investors, Int Term Credit Bond Index Fund
    51,000  
Barclays Global Investors, Int Term Government Bond Index Fund
    19,625  
Barclays Global Investors, Long Term Government Bond Index Fund
    4,790  
Barclays Global Investors, Mortgage-Backed Sec Index Fund
    42,070  
State Street Bank Wrap contract
    17,358  
 
     
State Street Bank Constant Duration Synthetic Contract 107073
    216,106  
 
     
Total Constant Duration Synthetic Contracts
  $ 1,009,203  
 
     
 
       
Participant loans* (5.00% to 9.25% with maturities through 2014)
  $ 562,513  
 
     
 
*   Party-in-interest

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the Plan have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
             
    ALLEGHENY TECHNOLOGIES INCORPORATED    
 
           
    ROME METALS, LLC EMPLOYEES’ 401(k) AND
PROFIT SHARING PLAN
   
 
           
Date: June 25, 2009
  By:   /s/ Dale G. Reid    
 
           
 
      Dale G. Reid    
 
      Vice President-Controller, Chief Accounting Officer and Treasurer    
 
      (Principal Accounting Officer and Duly Authorized Officer)    

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