Document




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

_________________________________


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

For the fiscal year ended December 31, 2015.

[ ]
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to ______.

Commission file number 1-2299

A.
Full title of the plan and the address of the plan, if different from that of the issuer named below:

Applied Industrial Technologies, Inc.
Retirement Savings Plan

B.
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Applied Industrial Technologies, Inc.
One Applied Plaza
Cleveland, Ohio 44115-5056




Financial Statements and Exhibit(s) (enclosed)

                                    
(a)    Financial Statements                

Report of Independent Registered Public Accounting Firm        
        
Statements of Net Assets Available for Benefits
As of December 31, 2015 and 2014
        
Statement of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2015 and 2014
    
Notes to Financial Statements                    

Supplemental Schedules                                 
                

(b)    Exhibit(s)

23    Consent of Independent Registered Public Accounting Firm

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan has duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.
                        
 
APPLIED INDUSTRIAL TECHNOLOGIES,
INC. RETIREMENT SAVINGS PLAN
 
 
 
By: Applied Industrial Technologies, Inc., as Plan Administrator
 
 
 
By: /s/ Kurt W. Loring                 
 
Kurt W. Loring
 
Vice President-Chief Human Resources Officer
 
 
Date: June 27, 2016
 










APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN



Financial Statements
For the Years Ended December 31, 2015 and 2014

Supplemental Schedules
As of December 31, 2015 and For the Year Ended December 31, 2015

Report of Independent Registered Public Accounting Firm





APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN

TABLE OF CONTENTS

 
 
Page
 
 
 
 
 
 
 
 
 
 
FINANCIAL STATEMENTS:
 
 
 
 
 
 
 
 
 
 
 
SUPPLEMENTAL SCHEDULES:
 
 
 
 
 
 






REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Investment and Advisory Committees for the Applied Industrial Technologies, Inc. Retirement Savings Plan

We have audited the accompanying statements of net assets available for benefits of Applied Industrial Technologies, Inc. Retirement Savings Plan (the “Plan”) as of December 31, 2015 and 2014 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 audits 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 audit 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 of the Plan as of December 31, 2015 and 2014 and the changes in net assets for the years then ended, in conformity with accounting principles generally accepted in the United States of America.
The supplemental information in the accompanying schedule of assets held at end of year as of December 31, 2015 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Department of Labor's Rules and Regulations for Reporting under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.


/s/ Plante & Moran, PLLC

Cleveland, Ohio
June 27, 2016



1
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2015 AND 2014



 
2015
 
2014
 
 
 
 
Assets:
 
 
 
  Cash
$
—

 
$
19,095

  Investments at fair value:
411,240,816

 
446,642,523

    Participant notes receivable
7,644,218

 
8,161,726

Net assets available for plan benefits
$
418,885,034

 
$
454,823,344

 
 
 
 
 
 
 
 
See notes to financial statements.
 
 
 



2
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014




 
2015
 
2014
Additions to net assets attributed to:
 
 
 
  Contributions:
 
 
 
    Participants
$
13,070,578

 
$
12,756,833

    Participants' rollovers
5,231,885

 
3,400,269

    Employer
2,995,014

 
2,975,924

        Total contributions
21,297,477

 
19,133,026

 
 
 
 
    Interest, Dividends, and Other
6,121,010

 
6,976,419

 
 
 
 
   Net (depreciation) appreciation in fair value of investments:
 
 
 
      Applied Industrial Technologies, Inc. Stock Fund
(10,397,285
)
 
(7,547,162
)
      Mutual funds
380,649

 
17,451,528

Total net (depreciation) appreciation in fair value of investments
(10,016,636
)
 
9,904,366

 
 
 
 
         Total investment (loss) income
(3,895,626
)
 
16,880,785

 
 
 
 
Interest on participant notes receivable
350,810

 
372,985

 
 
 
 
Total additions
17,752,661

 
36,386,796

 
 
 
 
Deductions from net assets attributed to:
 
 
 
  Distributions to participants
(52,916,810
)
 
(47,050,594
)
  Administrative expenses
(774,161
)
 
(612,791
)
          Total deductions
(53,690,971
)
 
(47,663,385
)
 
 
 
 
Net (decrease) increase in net assets
(35,938,310
)
 
(11,276,589
)
 
 
 
 
Net assets available for benefits:
 
 
 
Beginning of year
454,823,344

 
466,099,933

End of year
$
418,885,034

 
$
454,823,344

 
 
 
 
 
 
 
 
See notes to financial statements.
 
 
 





3
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2015 AND 2014


1. DESCRIPTION OF THE PLAN

The following description of the Applied Industrial Technologies, Inc. Retirement Savings Plan (the “Plan”) is provided for general purposes only. Participants and users of the financial statements should refer to the Plan document for more complete information.

General - The Plan was established for the purpose of encouraging and assisting domestic employees of Applied Industrial Technologies, Inc. and its subsidiaries (the “Company”) to provide long-term, tax-deferred savings for retirement. The Plan is subject to reporting and disclosure requirements, minimum participation and vesting standards, and fiduciary responsibility requirements of the Employee Retirement Income Security Act of 1974 (“ERISA”).

Administration - The Plan is administered by the Company. The Company's powers and duties relate to making participant and employer contributions to the Plan, establishing investment options, authorizing disbursements from the Plan, and resolving any questions of Plan interpretation. The record keeper and trustee for the assets of the plan is Wells Fargo Bank, N.A. (“Wells Fargo”).

Participant Accounts - Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and (b) Plan earnings (losses), and (c) administrative expenses. Allocated expenses are based on participant contributions, account balances, or can be per capita, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested portion of their account.

Participation and Contributions - All eligible employees may participate in the Plan after their first payroll period. Eligible employees may elect to make pretax contributions to the Plan ranging from 1% to 50% of compensation, subject to limitations under the Internal Revenue Code. All newly eligible employees are automatically enrolled into the Plan with an initial contribution rate of 2% after 30 days of employment if they have not made an affirmative election already.

The Company may make additional discretionary contributions to the Plan, including, but not limited to, matching contributions equal to a percentage of participant pretax contributions not in excess of 6% of the participant's compensation determined annually. Any employer matching contribution is typically paid to the plan monthly and participants must be employed during the last pay period of the month to receive the monthly match. Employer matching contributions are allocated based on the personal investment choices of each participant. For the first, second, third and fourth quarters of 2015, the employer match on participant contributions was $0.50, $0.25, $0.25, and $0.25 of every eligible employee dollar contributed. For the first, second, third and fourth quarters of 2014, the employer match on participant contributions was $0.35, $0.35, $0.25, and $0.35 of every eligible employee dollar contributed.

The Plan permits catch-up contributions for participants who are age 50 or older and defer the maximum amount allowed under the Plan.

Contributions are excluded from participants' taxable income until such amounts are received by them as a distribution from the Plan.

The Plan provides for rollover contributions (amounts distributed to participants from certain other tax-qualified plans) and transfer contributions (amounts transferred from certain other tax-qualified plans) by or on behalf of an employee in accordance with procedures established by the Company.




4
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2015 AND 2014


Investment of Contributions - Participants elect investment of matching and pretax contributions in 1% increments to any of several investment funds or options. The portion of the Plan that is invested in the Applied Industrial Technologies, Inc. Stock Fund is intended to be an Employee Stock Ownership Plan (“ESOP”) under Code Section 4975 (e)(7) and ERISA Section 407 (d)(6).
Participants may elect to change their investment elections as to future contributions and may also elect to reallocate a portion or all of their account balances among the investment choices in increments of 1% of the total amount to be reallocated. All such elections are filed with the Trustee and become effective daily.

Vesting and Distributions - Each participant is immediately and fully vested in their participant contributions and earnings thereon. Participants vest in matching employer contributions and profit-sharing contributions at a rate of 25% for each year of eligible service, becoming completely vested after four years, or at death, termination of employment due to physical or mental disability (determined by the Company upon the basis of a written certificate of a physician selected by it), or normal retirement as defined in the Plan.

Upon termination of employment, participants may receive lump-sum or installment distributions of their vested account balances as soon as administratively possible. Distributions can be made in the form of Company stock, cash, or a combination thereof. The Plan permits hardship withdrawals, if the hardship criteria are met, or in-service distributions at age 59 1/2. Hardship withdrawals and in-service distributions can be taken from participant rollovers, salary deferrals, and catch-up contributions.

Forfeitures - Forfeitures of nonvested amounts are used to reduce future matching employer contributions. Total forfeitures were $132,359 in 2015 and $11,965 in 2014.

Participant Notes Receivable - Participants may borrow (from their pre-tax contributions, rollover contributions and transferred contributions) a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of the aggregate sum of the participant's accounts. Participant notes receivable terms range from 1-5 years or up to 10 years if used for the purchase of a primary residence. Participant notes receivable that originated from merged plans are also reflected in participant notes receivable in the Plan's financial statements; these participant notes receivable are to be repaid to the Plan in accordance with their original terms. Participant notes receivable are collateralized by the balance in the participant's accounts and bear interest at market rates prevailing at the time the participant note receivable originated. Principal and interest are paid ratably through bi-weekly payroll deductions. Funds cannot be borrowed from Company contributions.

Plan Termination - The Plan was adopted with the expectation that it will continue indefinitely. The Company may, however, terminate the Plan at any time and may amend the Plan from time to time. In the event of termination of the Plan, all participants will immediately become fully vested in their accounts.

Tax Status of the Plan - The Plan obtained its latest determination letter dated September 17, 2013, 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. Although the Plan has been amended since receiving this determination letter, the Plan administrator believes that the Plan is designed and is currently 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
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2015 AND 2014

Party-in-interest Transactions - Certain plan assets are in investment funds managed by Wells Fargo or its affiliates. Wells Fargo is the trustee of the Plan; therefore, these transactions qualify as party-in-interest transactions as defined under ERISA guidelines.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies followed in the preparation of the Plan's financial statements.

Basis of Accounting - The accompanying financial statements have been prepared on the accrual basis of accounting.

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 and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Valuation of Investments - Investments are accounted for at cost on the trade date and are reported in the Statements of Net Assets Available For Benefits at fair value. The AMP Trust Columbia Trust Stable Income Fund, which is a common collective trust fund, is valued at net asset value per share (or its equivalent) of the funds, which are based on the fair value of the funds' underlying net assets. There were no unfunded commitments or redemption restrictions on the common collective trust funds. The investment in Applied Industrial Technologies, Inc. common stock is valued using the year-end closing price listed by the New York Stock Exchange. Mutual funds are stated at values using year-end closing prices for each of the funds or quoted market prices. See Note 4, “Fair Value Measurements” for additional disclosures relative to the fair value of the investments held in the Plan.

Participant Notes Receivable - Participant notes receivable are recorded at their unpaid principal balances plus any accrued interest. Participant notes receivable are written off when deemed uncollectible.

Risks and Uncertainties - In general, investment securities are exposed to various risks, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with investment securities, it is reasonably possible that changes in the values of investment securities could occur in the near term, and such changes could materially affect the amounts reported in the financial statements.

Benefit Payments - Distributions to participants are recorded by the Plan when payments are made.

Administrative Expenses - Administrative expenses of the Plan are paid by the Plan.

New Accounting Pronouncements - During 2015, the Plan adopted Accounting Standards Update (ASU) Nos. 2015-07, Disclosures for Investments In Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) and 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), and Health and Welfare Benefit Plans (Topic 965) - I. and III. Measurement Date Practical Expedient. ASU No. 2015-17 amended ASC 820, Fair Value Measurements, and removed the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share as a practical expedient. Parts I and II of ASU No. 2015-12 were applicable to the Plan. Part I requires the fully benefit-responsive investment contract be recorded at contract value without presentation of fair value or the difference between fair value and contract value and reduces the related disclosures. Part II modified the investment disclosures under ASC 820 and 962. These standards were adopted retrospectively and had no impact on the Plan's net assets or changes in net assets.

6
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2015 AND 2014



Change in Presentation -- The presentation of the Plan's stable value fund, for 2014 has been changed to be consistent with the 2015 presentation. The fund is presented using Net Asset Value (NAV) per unit as a practical expedient for the fair value of the investment without presentation of contract value or the difference between fair value and contract value. This change in presentation resulted from ASU No. 2015-07, and had no effect on the Plan's net assets or changes in net assets.

3. INVESTMENTS

The Plan provides that, in accordance with the investment objectives established by the Company, the trustee of the Plan shall hold, invest, reinvest, manage and administer all assets of the Plan as a trust fund for the exclusive benefit of participants and their beneficiaries.

4. FAIR VALUE MEASUREMENTS

Accounting standards require certain assets and liabilities be reported at fair value on the financial statements and provide a framework for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques used to measure fair value.

The Plan estimates the fair value of financial instruments using available market information and generally accepted valuation methodologies. Fair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are classified into three tiers. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan's assessment of the significance of particular inputs to these fair value measurements require judgment and considers factors specific to each asset or liability.

The following tables present information about the Plan's assets measured at fair value on a recurring basis at December 31, 2015 and 2014, and the valuation techniques used by the Plan to determine those values. The Plan also holds other assets not measured at fair value on a recurring basis, including cash and participant notes receivable. The fair value of these assets approximates the carrying amounts in the accompanying financial statements due to either the short maturity of the instruments or the use of interest rates that approximate market rates for instruments of similar maturity.

Financial assets and liabilities measured at fair value on a recurring basis are as follows. There are currently no items categorized as Level 2 or 3 within the fair value hierarchy.

7
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2015 AND 2014

 
 
 
 
Fair Value Measurements at 12/31/15
 
 
Recorded Value
 
Quoted Prices in Active Markets for Identical Instruments
 
 
December 31, 2015
 
Level 1
Assets:
 
 
 
 
  Applied Industrial Technologies, Inc. Stock Fund
 
$
81,134,021

 
$
81,134,021

  Mutual Funds
 
275,362,037

 
275,362,037

Total
 
$
356,496,058

 
$
356,496,058

 
 
 
 
 
Investments measured at NAV:
 
 
 
 
  Common/collective trust fund: Stable value
 
$
54,744,758

 
 
 
 
 
 
 
Total investments at fair value
 
$
411,240,816

 

 
 
 
 
Fair Value Measurements at 12/31/14
 
 
Recorded Value
 
Quoted Prices in Active Markets for Identical Instruments
 
 
December 31, 2014
 
Level 1
Assets:
 
 
 
 
  Applied Industrial Technologies, Inc. Stock Fund
 
$
102,098,475

 
$
102,098,475

  Mutual Funds
 
290,509,056

 
290,509,056

Total
 
$
392,607,531

 
$
392,607,531

 
 
 
 
 
Investments measured at NAV:
 
 
 
 
  Common/collective trust fund: Stable value
 
$
54,034,992

 
 
 
 
 
 
 
Total investments at fair value
 
$
446,642,523

 



The Plan's policy is to recognize transfers in and transfers out of level 1, 2, and 3 fair value classifications as of the actual date of the event of change in circumstances that caused the transfer.


5. NONPARTICIPANT-DIRECTED INVESTMENTS

During 2014, the Plan's only nonparticipant-directed transactions were contained within the Applied Industrial Technologies, Inc. Stock Fund, which included both participant and nonparticipant-directed transactions. As of January 1, 2015, the Plan was amended to eliminate nonparticipant-directed transactions into the Applied Industrial Technologies, Inc. Stock Fund. Information about the net assets

8
APPLIED INDUSTRIAL TECHNOLOGIES, INC. RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2014


and significant components of the changes in net assets relating to the Applied Industrial Technologies, Inc. Stock Fund for the year ended December 31, 2014 are as follows:

Net Assets:
 
 
Applied Industrial Technologies, Inc. Common Stock
 
$
100,682,278

Wells Fargo Advantage Heritage Money Market Fund
 
1,416,197

Total Net Assets
 
$
102,098,475

 
 
 
 
 
 
Change in Net Assets:
 
 
Contributions
 
$
4,254,368

Dividends
 
2,231,605

Interest
 
1,666

Net (depreciation) appreciation in fair value
 
(7,547,162
)
Benefits paid to participants
 
(7,604,461
)
Transfers to other participant-directed investments, net
 
(5,487,674
)
Administrative expenses
 
(96,271
)
Total Change in Net Assets
 
$
(14,247,929
)





9
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN

Employer ID Number: 34-0117420
Plan Number: 003

SCHEDULE H LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2015




(a)
(b)
(c)
(d)
(e)
 
Identity of Issuer, Borrower,
 
 
Current
 
Lessor or Similar Party
Description of Investment
Cost
Value
 
 
 
 
 
*
Applied Industrial Technologies, Inc. Stock Fund:
 
 
 
 
     Applied Industrial Technologies, Inc.
Common Stock - 1,978,980 shares
 
$
80,128,900

 
 
 
 
 
 
     Wells Fargo Advantage Heritage
Money Market Fund - 956,378 shares
 
1,005,121

 
Applied Industrial Technologies, Inc. Stock Fund Total
 
 
81,134,021

 
 
 
 
 
 
Common/Collective Trust Fund - at Contract Value
 
 
 
 
AMP Trust Columbia Trust Stable Income Fund
 
 **
54,744,758

 
 
 
 
 
 
Fixed Income Funds
 
 
 
 
Lord Abbett Total Return
Mutual Fund - 4,362 shares
**
44,450

 
Western Asset Tr-Core Bond Fund S
Mutual Fund - 1,662 shares
**
19,712

 
Western Asset Core Bond
Mutual Fund - 3,773,535 shares
**
37,669,105

 
Total Fixed Income Funds
 
 
37,733,267

 
 
 
 
 
 
Equity Funds
 
 
 
 
American Beacon Small-Cap Value
Mutual Fund - 20 shares
**
452

 
Foreign Stock
Mutual Fund - 2,830,306 shares
**
28,539,860

 
Large Core Stock
Mutual Fund - 4,405,383 shares
**
44,551,891

 
Large Growth Stock
Mutual Fund - 1,045,743 shares
**
35,177,505

 
Large Value Stock
Mutual Fund - 1,191,155 shares
**
12,072,439

 
Mid Cap Core Stock
Mutual Fund - 511,860 shares
**
5,209,305

 
Mid Cap Growth Stock
Mutual Fund - 2,465,290 shares
**
25,027,684

 
Mid Cap Value Stock
Mutual Fund - 720,302 shares
**
7,342,290

 
Vanguard Small Cap Index Adm
Mutual Fund - 69,870 shares
**
707,042

 
Vanguard Russell 2000 Growth I
Mutual Fund - 1,328,508 shares
**
13,357,088

 
American Beacon Small Cap Value I
Mutual Fund - 675,637 shares
**
6,824,404

 
Principal Mid Cap Fund
Mutual Fund - 16 shares
**
331

 
Vanguard Growth Index Fund
Mutual Fund - 20,193 shares
**
1,105,991

 
Vanguard Mid-Cap Index
Mutual Fund - 2,578 shares
**
383,445

 
Vanguard Russell 2000 Growth Index
Mutual Fund - 0 shares
**
2

 
Vanguard Small-Cap Index
Mutual Fund - 11,734 shares
**
622,465

 
Vanguard Total Int ST Index
Mutual Fund - 50,978 shares
**
1,235,705

 
Vanguard Value Index Fund
Mutual Fund - 14,689 shares
**
467,409

 
Vanguard 500 Index Fund
Mutual Fund - 47,637 shares
**
8,978,554

 
Total Equity Funds
 
 
191,603,862

 
 
 
 
 

10
APPLIED INDUSTRIAL TECHNOLOGIES, INC.
RETIREMENT SAVINGS PLAN

Employer ID Number: 34-0117420
Plan Number: 003

SCHEDULE H LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2015



(a)
(b)
(c)
(d)
(e)
 
Identity of Issuer, Borrower,
 
 
Current
 
Lessor or Similar Party
Description of Investment
Cost
Value
 
 
 
 
 
 
Retirement-Year Based Funds
 
 
 
 
Vanguard Chester/Target Retirement 2060
Mutual Fund - 3,823 shares
**
104,030

 
Vanguard Target Retirement #308
Mutual Fund - 136,802 shares
**
1,703,188

 
Vanguard Target Retirement 2010
Mutual Fund - 24,369 shares
**
606,312

 
Vanguard Target Retirement 2015
Mutual Fund - 303,054 shares
**
4,312,464

 
Vanguard Target Retirement 2020
Mutual Fund - 269,491 shares
**
7,316,686

 
Vanguard Target Retirement 2025
Mutual Fund - 373,798 shares
**
5,838,721

 
Vanguard Target Retirement 2030
Mutual Fund - 211,980 shares
**
5,876,074

 
Vanguard Target Retirement 2035
Mutual Fund - 255,549 shares
**
4,303,442

 
Vanguard Target Retirement 2040
Mutual Fund - 97,789 shares
**
2,782,103

 
Vanguard Target Retirement 2045
Mutual Fund - 70,182 shares
**
1,247,841

 
Vanguard Target Retirement 2050
Mutual Fund - 68,538 shares
**
1,952,655

 
Vanguard Target Retirement 2055
Mutual Fund - 13,241 shares
**
408,220

 
Total Retirement-Year Based Funds
 
 
36,451,736

 
 
 
 
 
 
Balanced Funds
 
 
 
 
DFA Global All 60/40 Portfolio
Mutual Fund - 951,005 shares
**
9,573,172

 
 
 
 
 
 
Total Investments
 
 
411,240,816

 
 
 
 
 
 
Notes Receivable From Participants
 
 
 
*
Participant notes receivable (with interest rates ranging from 4.25% to 10.90% and maturity dates ranging from January 2016 to April 2027)
 
**
7,644,218

 
 
 
 
 
 
Total
 
 
$
418,885,034

 
 
 
 
 
*
Represents a party-in-interest
 
 
 
**
Indicates a participant-directed fund. The cost disclosure is not required.
 
 


11