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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549



FORM 11-K

ý ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
  FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004
or
o TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File No.: 1-31349
   
A. Full title of the plan and address of the plan, if different from that of the issuer named below:
THE THOMSON 401(k) SAVINGS PLAN
   
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
THE THOMSON CORPORATION
Metro Center, One Station Place
Stamford, Connecticut 06902





THE THOMSON 401(k) SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND EXHIBITS

 
  Page
Report of Independent Registered Public Accounting Firm   1
Financial Statements:    
  Statements of Net Assets Available for Benefits   2
  Statement of Changes in Net Assets Available for Benefits   3
  Notes to Financial Statements   4-12
Supplemental Schedule: *    
  Schedule I — Part IV of Schedule H, Line 4i, Schedule of Assets (Held at End of Year)   13
Signature   14
Exhibit:    
  23 — Consent of Independent Registered Public Accounting Firm    
 

* Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 ("ERISA") have been omitted because they are not applicable.


Report of Independent Registered Public Accounting Firm

To the Participants and Administrator of
The Thomson 401(k) Savings Plan

        In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of The Thomson 401(k) Savings Plan (the "Plan") at December 31, 2004 and 2003, and the changes in net assets available for benefits for the year ended December 31, 2004 in conformity with accounting principles generally accepted in the United States of America. 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 of these statements 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, 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.

        Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule of Assets (Held at End of Year) 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.

/s/ PricewaterhouseCoopers LLP

New York, NY
June 28, 2005

1


The Thomson 401(k) Savings Plan

Statements of Net Assets Available for Benefits
December 31, 2004 and 2003

 
  2004
  2003
Assets            
Investments, at fair value or contract value (Note 4)   $ 1,590,941,288   $ 1,441,925,022
Cash     19,613     59,571
Participant loans     33,836,446     31,546,061
Contributions receivable            
  Employer     3,433,046     4,186,332
  Employee     9,618     828
   
 
    Total assets     1,628,240,011     1,477,717,814
   
 

Liabilities

 

 

 

 

 

 
Accrued expenses     155,429     113,695
   
 
    Total liabilities     155,429     113,695
   
 
    Net assets available for benefits   $ 1,628,084,582   $ 1,477,604,119
   
 

The accompanying notes are an integral part of these financial statements.

2


The Thomson 401(k) Savings Plan

Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2004

Additions to net assets        
Investment income        
  Interest and dividends   $ 22,950,337  
  Net appreciation in fair value of investments (Note 4)     122,229,115  
   
 
    Total investment income     145,179,452  
   
 
Contributions        
  Employee     119,816,959  
  Employer     44,296,786  
  Rollovers     9,650,216  
   
 
    Total contributions     173,763,961  
   
 
    Increase to net assets     318,943,413  
   
 

Deductions from net assets

 

 

 

 
Benefits paid to participants     129,259,399  
Forfeitures utilized for Plan administrative expenses (Note 1)     466,355  
Loan origination and maintenance fees     123,967  
   
 
    Total deductions from net assets     129,849,721  
   
 
    Net increase in net assets available for benefits before plan mergers and other transfers out     189,093,692  
Plan mergers (Note 1)     2,215,987  
Other transfers out (Note 1)     (40,829,216 )
   
 
    Net increase in net assets available for benefits after plan mergers and other transfers out     150,480,463  

Net assets available for benefits

 

 

 

 
Beginning of year     1,477,604,119  
   
 
End of year   $ 1,628,084,582  
   
 

The accompanying notes are an integral part of these financial statements.

3


The Thomson 401(k) Savings Plan
Notes to Financial Statements
December 31, 2004 and 2003

1.     Description of the Plan

Years of service
  Vested Percentage
1   25%
2   50%
3   75%
4   100%

4


5


Plan Merger Date
  Plan
  Assets Transferred
4/15/2004   Unilink 401(k) Retirement Plan   $ 338,791
12/31/2004   Hubbard One 401(k) Retirement Plan     1,877,196
   
 
        $ 2,215,987
   
 
Date of Transfer
  Plan
  Assets Transferred
4/1/2004   DBM   $ 19,854,337
12/31/2004   Thomson Media     20,974,879
   
 
        $ 40,829,216
   
 

2.     Summary of Significant Accounting Policies

6


3.     Description of Investment Options

7


8


4.     Investments

 
  2004
  2003
Putnam Voyager Fund   $ 294,551,124   $ 315,039,990
Putnam Stable Value Fund     220,238,765     218,601,056
Artisan Mid Cap Fund     213,767,450     36,765,571
Putnam Fund for Growth & Income     164,373,400     161,461,331
BGI Equity Index Fund     127,992,553     112,164,732
Templeton Institutional Funds, Inc.     122,074,633     92,232,547
T. Rowe Price Value Fund     104,139,274     77,075,161
The George Putnam Fund of Boston     85,069,715     85,141,405
PIMCO Total Return Fund II     74,065,053     69,976,082
Frank Russell Small Cap Fund     71,538,593     55,089,660
BGI Extended Equity Market Fund     53,950,111     34,880,682
BGI U.S. Debt Index Fund     30,094,059     28,632,959
Thomson Stock Fund     13,307,488     7,367,081
BGI Russell 1000 Growth Fund     10,651,982     2,386,843
T. Rowe Price Blue Chip Growth Fund     5,127,088    
Putnam New Opportunities Fund         145,109,922
   
 
    $ 1,590,941,288   $ 1,441,925,022
   
 
 
  December 31,
 
  2004
  2003
Putnam Voyager Fund, 17,185,013 and 19,315,398 shares, respectively   $ 294,551,124   $ 315,039,990
Putnam Stable Value Fund, 220,238,765 and 218,601,056 shares, respectively     220,238,765     218,601,056
Artisan Mid Cap Fund, 7,231,810 shares     213,767,450     *
Putnam Fund for Growth and Income, 8,455,470 and 9,106,333 shares, respectively     164,373,400     161,461,331
BGI Equity Index Fund, 3,543,623 and 3,441,692 shares, respectively     127,992,553     112,164,732
Templeton Institutional Funds, 6,022,441 and 5,441,448 shares, respectively     122,074,633     92,232,547
T. Rowe Price Value Fund, 4,547,600 and 3,851,832 shares, respectively     104,139,274     77,075,161
The George Putnam Fund of Boston 4,697,428 and 5,002,433 shares, respectively     85,069,715     85,141,405
Putnam New Opportunities Fund, 3,738,838 shares     *     145,109,922

9


Interest and dividends   $ 22,950,337
Net appreciation in fair value of investments     122,229,115
   
    $ 145,179,452
   
Mutual funds   $ 91,808,279
Commingled trusts     30,327,580
Thomson Stock Fund     93,256
   
    $ 122,229,115
   

5.     Income Tax Status

6.     Reconciliation of Financial Statements to Form 5500

 
  December 31,
 
 
  2004
  2003
 
Net assets available for benefits per the financial statements   $ 1,628,084,582   $ 1,477,604,119  
Amounts allocated to withdrawing participants     (506,762 )   (275,874 )
   
 
 
  Net assets available for benefits per the Form 5500   $ 1,627,577,820   $ 1,477,328,245  
   
 
 

10


Benefits paid to participants per the financial statements   $ 129,259,399  
Less — Amounts allocated to withdrawing participants at December 31, 2003     (275,874 )
Add — Amounts allocated to withdrawing participants at December 31, 2004     506,762  
   
 
  Benefits paid to participants per the Form 5500, Schedule H, Part II (lines e(4), f and g)   $ 129,490,287  
   
 

7.     Related Party Transactions

11


8.     Subsequent Events

12


The Thomson 401(k) Savings Plan
Line 4i of Part IV of Schedule H
Schedule of Assets (Held at End of Year)
December 31, 2004

Schedule I

Identity of issuer
  Description of investment
  Fair value
 
Putnam Voyager Fund*   Open-end mutual fund   $ 294,551,124  
Putnam Stable Value Fund*   Collective investment trust     220,238,765 **
Artisan Mid Cap Fund   Open-end mutual fund     213,767,450  
Putnam Fund for Growth & Income*   Open-end mutual fund     164,373,400  
BGI Equity Index Fund   Commingled trust     127,992,553  
Templeton Institutional Funds, Inc.   Open-end mutual fund     122,074,633  
T. Rowe Price Value Fund   Open-end mutual fund     104,139,274  
The George Putnam Fund of Boston*   Open-end mutual fund     85,069,715  
PIMCO Total Return Fund II   Open-end mutual fund     74,065,053  
Frank Russell Small Cap Fund   Commingled trust     71,538,593  
BGI Extended Equity Market Fund   Commingled trust     53,950,111  
BGI U.S. Debt Index Fund   Commingled trust     30,094,059  
Thomson Stock Fund*   Common stock fund     13,307,488  
BGI Russell 1000 Growth Fund   Commingled trust     10,651,982  
T. Rowe Price Blue Chip Growth Fund   Open-end mutual fund     5,127,088  
Cash         19,613  
          1,590,960,901  
Loan Fund*   Loans to participants (maturities range from 2004 to 2031; interest rates range from 5% to 12%)     33,836,446  
   
 
 
  Total assets held for investment purposes       $ 1,624,797,347  
   
 
 

13



SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized.

    THE THOMSON 401(k) SAVINGS PLAN

Date: June 29, 2005

 

 

 

 

 

By:

/s/  
JOHN J. RAFFAELI, JR.      
Name: John J. Raffaeli, Jr.
Title: Senior Vice President, Human Resources,
         The Thomson Corporation

14



EXHIBIT INDEX

Exhibit Number

  Description

23   Consent of Independent Registered Public Accounting Firm

15




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THE THOMSON 401(k) SAVINGS PLAN INDEX TO FINANCIAL STATEMENTS AND EXHIBITS
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EXHIBIT INDEX