UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K/A
ANNUAL REPORT
(Mark One)
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 2004
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from _____________ to _____________.
Commission file number 0-981
-----
A. Full title of the plan and the address of the plan, if different from that of
the issuer named below:
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
PUBLIX SUPER MARKETS, INC.
3300 PUBLIX CORPORATE PARKWAY
LAKELAND, FLORIDA 33811
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Index to Financial Statements, Supplemental Schedule and Exhibit
Report of Independent Registered Public Accounting Firm
Financial Statements:
Statements of Net Assets Available for Plan Benefits - December 31, 2004 and
December 31, 2003
Statements of Changes in Net Assets Available for Plan Benefits - Years ended
December 31, 2004 and December 31, 2003
Notes to Financial Statements
Supplemental Schedule:
Schedule H, Line 4i, Schedule of Assets (Held at End of Year) -
December 31, 2004
Exhibit:
Exhibit 23, Consent of Independent Registered Public Accounting Firm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
-------------------------------------------------------
The Administrative Committee
Publix Super Markets, Inc.
401(k) SMART Plan:
We have audited the accompanying statements of net assets available for plan
benefits of Publix Super Markets, Inc. 401(k) SMART Plan (the "Plan") as of
December 31, 2004 and 2003, and the related statements of changes in net assets
available for plan 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. 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 plan benefits of the Plan as
of December 31, 2004 and 2003, and the changes in net assets available for plan
benefits for the years then ended in conformity with United States generally
accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule, Schedule H,
Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2004, 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 the audits of the basic
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
KPMG LLP
Tampa, Florida
June 24, 2005
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Statements of Net Assets Available for Plan Benefits
December 31, 2004 and 2003
2004 2003
---- ----
Assets
------
Investments, at fair value (Note 3) $731,779,572 572,077,930
Employer contribution receivables (Note 4) 15,523,453 14,767,181
------------ -----------
Total assets 747,303,025 586,845,111
------------ -----------
Liabilities
-----------
Excess contributions payable 3,537,706 2,144,999
------------ -----------
Total liabilities 3,537,706 2,144,999
------------ -----------
Net assets available for plan benefits $743,765,319 584,700,112
============ ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Statements of Changes in Net Assets Available for Plan Benefits
December 31, 2004 and 2003
2004 2003
---- ----
Additions to net assets attributed to:
Contributions:
Participant $ 74,159,223 69,239,026
Employer - stock 15,523,453 14,767,181
------------ -----------
Total contributions 89,682,676 84,006,207
------------ -----------
Investment income:
Net appreciation in fair value of
investments (Note 3) 105,414,907 122,140,842
Dividends 4,755,639 3,994,434
Interest 1,549,786 1,516,662
------------ -----------
Total investment income 111,720,332 127,651,938
------------ -----------
Total additions to plan assets 201,403,008 211,658,145
------------ -----------
Deductions from net assets attributed to:
Distributions to participants (41,894,637) (36,457,779)
Loan fees paid by participants (443,164) (404,309)
------------ -----------
Total deductions to plan assets (42,337,801) (36,862,088)
------------ -----------
Net additions to plan assets 159,065,207 174,796,057
Net assets available for plan benefits:
Beginning of year 584,700,112 409,904,055
------------ -----------
End of year $743,765,319 584,700,112
============ ===========
See accompanying notes to financial statements.
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(1) Description of Plan and Summary of Accounting Policies
------------------------------------------------------
The following brief description of the Publix Super Markets, Inc. 401(k)
SMART Plan (the "Plan") provides only general information. Participants
should refer to the Plan document or the summary plan description for a
complete description of the Plan provisions.
The Plan, which became effective January 1, 1995, is a voluntary defined
contribution plan subject to the provisions of the Employee Retirement
Income Security Act of 1974, as amended ("ERISA"). The Plan was amended on
March 17, 2004, July 30, 2004 and December 8, 2004, to reflect certain
additions and changes to various Plan provisions.
Employees of Publix Super Markets, Inc. and its wholly owned subsidiaries,
Publix Alabama, LLC and Publix Asset Management Company (the "Company" or
"Publix") are eligible to participate in the Plan six months after their
hire date, if they are at least 18 years of age. The Plan year is a
calendar year.
(a) Contributions
-------------
Eligible employees may contribute up to 10% of their annual eligible
compensation, subject to the maximum contribution limits established
by Federal law. Participants direct the investment allocations of
their contributions and the earnings thereon among eleven investment
fund options offered under the Plan. The Company may make a
discretionary annual matching contribution to the Accounts of
eligible participants of the Plan as determined by the Company's
Board of Directors. During 2004 and 2003, the Company's Board of
Directors approved a match of 50% of eligible contributions up to 3%
of eligible wages, not to exceed a maximum match of $750 per
employee. The match, which is determined as of the last day of the
Plan year and funded by the Company in the subsequent Plan year, was
in the form of common stock of Publix Super Markets, Inc.
Participants may direct the investment allocations of their matching
contributions and the earnings thereon by requesting a transfer from
the Publix Stock Fund to any of the other investment fund options
offered under the Plan. The Plan Administrator processes transfer
requests on the next valuation effective date for the common stock of
Publix Super Markets, Inc.
(b) Participant Accounts
--------------------
Two separate accounts are maintained for each participant, a Savings
Contribution Account and a Matching Contribution Account (the
"Accounts"). Plan earnings are allocated and credited to the Accounts
as of each valuation date. Each participant's share of earnings is
determined by the Plan Administrator on a weighted average basis, so
that each participant receives a pro-rata share. Forfeitures of
non-vested Company contributions by separated or former participants
and of Accounts of separated or former participants or beneficiaries
that cannot be located after two years are used to reduce future
Company matching contributions. Forfeitures, and earnings thereon,
totaled $79,566 and $107,569 for the years ended December 31, 2004
and 2003, respectively, and were used to reduce Company matching
contributions in both years.
(Continued)
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(c) Vesting
-------
Participants are immediately vested in their contributions and
earnings thereon. Company matching contributions and earnings thereon
are 100% vested upon completing three years of credited service,
reaching age 60, total disability or death. Matching contributions
cannot be withdrawn or distributed until vested.
(d) Loans to Participants
---------------------
All actively employed Plan participants with available account
balances may apply for a loan from their Accounts. The minimum amount
a participant may borrow is $1,000. The maximum amount that a
participant may borrow is the lesser of: 1) 50% of the balances in
the participant's Savings Contribution Account and vested Matching
Contribution Account; or 2) $50,000, less the participant's highest
outstanding loan balance during the previous twelve month period.
However, any money held by the participant in the Publix stock
component of the Publix Stock Fund cannot be borrowed. Participants
may initiate one loan each year and may only have one outstanding
loan at a time. All legal and administrative costs incurred as a
result of a loan are paid by the participant. The interest rate is
determined by the Primary Trustee as of the first day of each
calendar quarter based on the United States prime interest rate as
published in the Wall Street Journal. The interest rate on a loan is
fixed for the term of the loan.
A participant can choose repayment terms of up to five years.
Repayment of principal and interest are made through after-tax
payroll deductions each pay period. Repayment of principal and
interest are credited pro-rata to the participant's Savings
Contribution Account and Matching Contribution Account from which the
loan was originally funded and reinvested according to the
participant's current investment elections. Upon separation of
employment all unpaid principal and accrued interest on any loan
outstanding is immediately due and payable. Participants may repay a
loan in total at any time after the loan has been in effect for at
least 90 days and participants must wait 30 days between paying off
one loan and initiating a new loan.
(e) Termination of Plan
-------------------
The Company expects to continue the Plan indefinitely, but is not
contractually obligated to do so. The Company reserves the right to
discontinue its contributions at any time and the right to amend or
discontinue the Plan at any time. If the Plan is ever terminated,
participants will be fully vested in all amounts credited to their
Matching Contribution Account.
(f) Distribution of Benefits
------------------------
Benefits are recorded when paid.
Upon reaching age 59 1/2, a participant who is actively employed by
the Company may elect to withdraw all or a portion of his/her Savings
Contribution Account and the vested portion of his/her Matching
Contribution Account. The minimum withdrawal amount is $1,000 or the
vested balance in the Accounts if less than $1,000.
A participant who reaches age 70 1/2 and who is actively employed by
the Company may elect to begin receiving a distribution of benefits
on or before April 1st of the calendar year following the year in
which the participant reaches age 70 1/2.
(Continued)
-2-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
Upon separation of service, retirement, disability or death,
participants or their beneficiaries may elect to receive full
distribution of their Savings Contribution Account and their vested
Matching Contribution Account balances as of the valuation date
immediately preceding the date of distribution, subject to certain
restrictions on the sale of Publix stock. If the value of the
participant's vested Accounts is $5,000 or less, the participant will
receive an automatic distribution from the Plan no later than 60 days
after the end of the Plan year in which the participant separates
from employment. If the value of the participant's Savings
Contribution Account and vested Matching Contribution Account exceeds
$5,000 and the participant is not 62 years of age or older, the
participant may elect to defer distribution. Payment of a deferred
distribution must be made to a participant no later than 60 days
after the end of the Plan year in which the participant reaches age
62.
If a deceased participant's Savings Contribution Account and vested
Matching Contribution Account exceeds $5,000, distribution must be
made to a participant's beneficiary other than a surviving spouse by
December 31 of the calendar year containing the fifth anniversary of
the participant's death. If the beneficiary is the participant's
surviving spouse, such beneficiary may defer distribution until
December 31 of the calendar year in which the participant would have
reached age 70 1/2 or by December 31 of the calendar year immediately
following the calendar year in which the participant died, whichever
is later.
(g) Basis of Accounting
-------------------
The financial statements of the Plan are prepared using the accrual
basis of accounting.
(h) Investments
-----------
The market value of Publix Super Markets, Inc. common stock is based
upon quarterly appraisals prepared by an independent appraiser. The
fair value of other investments is determined based upon quoted
market prices. Purchases and sales of securities are recorded on a
trade date basis. Dividends are recorded on the ex-dividend date.
Investment securities are exposed to various risks, 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
the amounts reported in the financial statements and schedule of the
Plan.
(i) Use of Estimates
----------------
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America
requires the Plan to make estimates and assumptions that affect the
reported amounts of net assets available for plan benefits and
disclosure of contingent assets and liabilities as of the date of the
financial statements and the reported amounts of changes in net
assets available for plan benefits during the reporting period.
Actual results could differ from those estimates.
(j) Reclassifications
-----------------
Certain amounts related to participants' loans have been reclassified
in the statement of changes in net assets available for plan benefits
for the year ended December 31, 2003, to conform with the 2004
presentation.
(Continued)
-3-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(2) Administration of the Plan
--------------------------
The Primary Trustee for the Plan, State Street Bank and Trust Company, is
responsible for maintaining custody of the investment funds and other
assets in which the employee contributions are invested, excluding Publix
stock. Tina P. Johnson is the Trustee responsible for maintaining custody
of the Publix stock component of the Publix Stock Fund. CitiStreet LLC
serves as the third-party Plan Administrator. The Plan administration
costs are paid by Publix, excluding loan fees paid by the applicable Plan
participants of $443,164 and $404,309 for the years ended December 31,
2004 and 2003, respectively. Officers and employees of the Company perform
certain administrative functions for the Plan with no compensation from
the Plan.
(3) Investments
-----------
The Plan consists of the following investments:
(a) SSgA International Growth Opportunities Fund
--------------------------------------------
This fund is an institutional ERISA commingled fund. The fund seeks
capital growth in international stocks through active management. The
fund's strategy is to identify growth opportunities among the most
competitive and dominant non-United States companies. Effective
January 1, 2005, this fund was replaced with the American Funds
EuroPacific Growth Fund R3.
(b) Managers Special Equity Fund
----------------------------
This mutual fund seeks long-term capital growth by investing in
common and preferred stocks of companies with small and medium market
capitalizations with the potential for capital appreciation as a
result of earnings growth or improvements in equity valuation.
(c) SSgA Strategic Balanced Funds
-----------------------------
These funds are institutional ERISA commingled funds that use an
asset allocation approach to provide for both current income and
capital appreciation.
The underlying investments of these funds are stock and fixed income
funds. These funds offer diversification by blending risk across
different types of investments (i.e., conservative, moderate and
aggressive). The three SSgA Strategic Balanced Funds are:
SSgA Aggressive Strategic Balanced Fund
---------------------------------------
This fund seeks to provide capital growth. This fund seeks to match a
composite benchmark that is made up of 85% stocks and 15% bonds. The
fund provides diversification of returns and market risk by
incorporating a broad set of asset classes.
SSgA Moderate Strategic Balanced Fund
-------------------------------------
This fund seeks to provide capital growth with some income for
stability. This fund seeks to match a composite benchmark that is
made up of 55% stocks and 45% bonds. The fund provides
diversification of returns and market risk by incorporating a broad
set of asset classes.
SSgA Conservative Strategic Balanced Fund
-----------------------------------------
This fund seeks to provide income and a modest level of capital
growth. The fund seeks to match a composite benchmark that is made up
of 25% stocks and 75% bonds. The fund provides diversification of
returns and market risk by incorporating a broad set of asset
classes.
(Continued)
-4-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(d) Smith Barney Large Cap Growth (A) Fund
--------------------------------------
This mutual fund seeks long-term capital growth by investing
primarily in securities of companies with large market
capitalizations. The fund attempts to identify stocks of established
companies which are dominant in their industries due to product,
distribution or service strength.
(e) Davis New York Venture (A) Fund
-------------------------------
This mutual fund seeks to invest in growing companies that are
selling at value prices and holds on to them for the long term. The
fund seeks companies recognizable as strong global leaders, companies
that are under-followed or overlooked but have strong business
fundamentals, and companies that are controversial and face negative
headlines.
(f) SSgA S&P 500 Index Fund
-----------------------
This mutual fund seeks to replicate the Standard & Poor's 500 Index
("S&P 500 Index"), an index made up of 500 common stocks of United
States companies that is generally considered to be representative of
the overall United States stock market. The fund buys and holds
stocks in the same market-weighted proportions as the S&P 500 Index.
(g) PIMCO Total Return Fund
-----------------------
This mutual fund seeks maximum total return, investing for both
current income and capital growth, consistent with preservation of
capital and prudent investment management. The fund focuses on
intermediate maturity, fixed income securities that can include
United States government and corporate bond securities, mortgage and
other asset-backed securities, United States dollar-denominated
securities of non-United States issuers and money market instruments.
(h) SSgA Stable Value Fund
----------------------
This fund is an institutional ERISA commingled fund. The fund seeks
to preserve capital while maintaining a rate of return comparable
with other conservative fixed income investments. The fund invests in
investment contracts issued by insurance companies, banks and other
financial institutions as well as enhanced short-term investment
products.
(i) Publix Stock Fund
-----------------
This fund includes two components: shares of Publix stock and cash
awaiting investment in Publix stock. Cash awaiting investment in
Publix stock is invested in a short-term fixed income funding
vehicle, SSgA Yield Enhanced Short Term Investment Fund, an
institutional ERISA commingled fund. The cash component of this fund
includes employee contributions and loan repayments, transfers from
other investments to purchase Publix stock, dividends earned on
Publix stock and income earned on all of these deposits. The cash
component of this fund is used to purchase Publix stock on specified
purchase dates.
(Continued)
-5-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
The fair value of investments in the following funds each represented 5%
or more of the Plan's net assets available for plan benefits.
December 31,
------------
2004 2003
---- ----
Publix Stock Fund $519,984,705 383,994,984
Smith Barney Large Cap Growth (A) Fund 52,875,428 53,895,959
SSgA Stable Value Fund --- 31,603,832
During 2004 and 2003, the Plan's investments (including gains on
investments bought and sold, as well as held during the year) appreciated
in value by $105,414,907 and $122,140,842, respectively, as follows:
Year Ended December 31,
-----------------------
2004 2003
---- ----
Publix Stock Fund $ 97,624,730 94,353,454
Mutual Funds 4,471,855 23,095,839
Commingled Funds 3,318,322 4,691,549
------------ -----------
$105,414,907 122,140,842
============ ===========
(4) Employer Contribution Receivables
---------------------------------
The employer contribution receivables are contributed in the form of
common stock of Publix Super Markets, Inc. The matching contribution, net
of forfeitures, of $15,523,453 for the 2004 Plan year was recorded as a
receivable in the financial statements as of and for the year ended
December 31, 2004 and funded by the Company in the 2005 Plan year. The
matching contribution, net of forfeitures, of $14,767,181 for the 2003
Plan year was recorded as a receivable in the financial statements as of
and for the year ended December 31, 2003 and funded by the Company in the
2004 Plan year.
Participants who are eligible to receive a matching contribution may
request a transfer of the match and the earnings thereon from the Publix
Stock Fund to any of the other investment fund options. The Plan
Administrator processes transfer requests on the next valuation effective
date for the common stock of Publix Super Markets, Inc. Valuation
effective dates are generally March 1, May 1, August 1 and November 1.
(Continued)
-6-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(5) Reconciliation of Financial Statements to Form 5500
---------------------------------------------------
The following is a reconciliation of net assets available for plan
benefits per the financial statements to the Form 5500:
December 31,
------------
2004 2003
---- ----
Net assets available for plan benefits
per the financial statements $743,765,319 584,700,112
Less: Amounts allocated to withdrawing
participants (1,916,212) (1,411,180)
------------ -----------
Net assets available for plan benefits
per the Form 5500 $741,849,107 583,288,932
============ ===========
The following is a reconciliation of benefit payments to participants per
the financial statements to the Form 5500:
Year ended December 31,
-----------------------
2004 2003
---- ----
Benefit payments to participants per the
financial statements $ 41,894,637 36,457,779
Add: Amounts allocated to withdrawing
participants at December 31, 2004 and 2003 1,916,212 1,411,180
Less: Amounts allocated to withdrawing
participants at December 31, 2003 and 2002 (1,411,180) (1,374,361)
Less: Accrued excess contributions payable
for years ended December 31, 2004 and 2003 (3,537,706) (2,144,999)
Less: Distribution of excess contributions
for year ended December 31, 2002 --- (1,527,290)
------------ ----------
Benefit payments to participants per the
Form 5500 $ 38,861,963 32,822,309
============ ==========
Distributions of excess contributions for
years ended December 31, 2004 and 2003
per the Form 5500 $ 3,537,706 2,144,999
============ ==========
Amounts allocated to withdrawing participants are recorded on the Form
5500 for benefit claims that have been processed and approved for payment
on or before December 31, 2004 and 2003, but not yet paid as of that date.
Distributions of excess contributions and any allocable income that were
paid for the 2004 and 2003 Plan years were recorded as a liability in the
financial statements as of and for the years ended December 31, 2004 and
2003. Distributions of excess contributions and any allocable income that
were paid for the 2002 Plan year were a reconciling item between the
financial statements and Form 5500 for the 2003 Plan year.
(Continued)
-7-
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Notes to Financial Statements
December 31, 2004 and 2003
(6) Related-Party Transactions
--------------------------
Certain Plan investments are commingled funds and mutual funds managed by
State Street Global Advisors (SSgA), the investment management arm of
State Street Corporation. State Street Corporation's parent company is
State Street Bank and Trust Company, which is the Primary Trustee for the
Plan. The Smith Barney Large Cap Growth (A) Fund is a mutual fund managed
by Smith Barney Fund Management LLC. Citigroup Asset Management serves as
the asset management arm of Citigroup Inc. and provides investment
management services through various affiliated entities including Smith
Barney Fund Management LLC. Citigroup Inc. and State Street Bank and Trust
Company have 50/50 ownership interests in CitiStreet LLC, the third-party
Plan Administrator, as a joint venture. Therefore, the transactions
involving these investments, in addition to Publix Super Markets, Inc.
common stock, qualify as party-in-interest transactions.
(7) Tax Status
----------
The Plan, as amended and restated as of July 1, 2001, received a favorable
tax determination letter, dated April 30, 2002, from the Internal Revenue
Service under Section 401(a) of the Internal Revenue Code (the "Code"), as
amended. As such, the Plan's design is exempt from Federal income taxes
under Section 501(a) of the Code. The Plan Administrator believes that the
Plan has been and is currently being operated in compliance with the
applicable requirements of the Code and the Plan document.
-8-
Supplemental Schedule
PUBLIX SUPER MARKETS, INC. 401(k) SMART PLAN
Schedule H, Line 4i, Schedule of Assets (Held at End of Year)
December 31, 2004
Number of Fair
Name of Issuer and Title of Issue Units/Shares Cost Value
--------------------------------- ------------ ---- -----
Marketable:
SSgA International Growth
Opportunities Fund * 562,592 $ 4,990,438 5,876,435
Managers Special Equity Fund 129,317 9,381,298 11,691,350
SSgA Strategic Balanced Funds:
SSgA Aggressive Strategic
Balanced Fund * 539,882 5,119,380 6,059,165
SSgA Moderate Strategic
Balanced Fund * 809,799 8,166,968 9,494,068
SSgA Conservative Strategic
Balanced Fund * 311,360 3,376,219 3,767,176
Smith Barney Large Cap
Growth (A) Fund * 2,417,719 47,735,821 52,875,428
Davis New York Venture (A) Fund 317,113 8,191,584 9,731,625
SSgA S&P 500 Index Fund * 1,460,173 26,348,510 29,159,458
PIMCO Total Return Fund 1,398,788 15,070,943 14,925,036
SSgA Stable Value Fund * 19,759,400 30,401,313 32,748,904
Publix Stock Fund
-----------------
Marketable:
SSgA Yield Enhanced Short Term
Investment Fund * 1,162,155 12,345,596 12,363,003
Non-Marketable:
Common stock of Publix Super
Markets, Inc. * 7,931,589 320,405,912 507,621,702
Participants' Loans at rates of
4.00% to 9.50% --- --- 35,466,222
------------ -----------
$491,533,982 731,779,572
============ ===========
* Parties-in-interest
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Publix Super Markets, Inc. 401(k)
SMART Plan) have duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
PUBLIX SUPER MARKETS, INC.
401(k) SMART PLAN
Date: June 28, 2005 By: /s/Linda S. Kane
----------------------------
Linda S. Kane
Vice President Benefits
Administration and
Assistant Secretary
Publix Super Markets, Inc.,
Plan Administrator