M.H. Detrick Asbestos Trust Annual Reports, 2006–2025

M.H. Detrick’s net claimants’ equity increased $55,245 in 2025 to $5.534 million. Investment income of $230,532, realized gains of $50, and unrealized gains of $5,482 produced total additions of $236,064. These exceeded operating and claims-resolution expenses of $145,591 and federal income tax expense of $35,228. No company distribution was recorded, following $120,014 in 2024.

The trust issued no checks for claims from the December 2010–February 2011 filing period, and deferred claims remained $188,998. Year-end investments were $5.432 million and cash was $211,771. Cash income taxes paid totaled $242,573, substantially more than the current-year tax expense because cash payments and expense recognition occurred in different periods; the trust ended the year with $69,772 of prepaid income tax. The modest growth in equity therefore coexisted with a decline in total assets.

M.H. Detrick’s net claimants’ equity increased $496,342 in 2024 to $5.478 million. Realized investment gains of $809,550 and investment income of $192,077 more than offset $352,801 of unrealized losses. A $120,014 company distribution brought total additions to $768,840. Operating and claims-resolution expenses were $134,925, and federal income tax expense was $137,573.

No checks were issued for claims from the filing period that closed in February 2011. The trust held $5.678 million in investments and $100,296 in cash at year-end, with deferred claims unchanged at $188,998. The federal income tax expense remained payable at year-end, so it should not be read as cash tax paid during 2024. Investment results, rather than new claim-payment activity, drove the increase in equity.

M.H. Detrick’s net claimants’ equity increased $713,323 in 2023 to $4.982 million, recovering the prior year’s decline. Unrealized investment gains of $511,867 were the largest contributor, followed by a $225,000 company distribution and $118,839 of investment income; realized investment losses were $8,225. Total additions of $847,481 exceeded operating and claims-resolution expenses of $134,158.

The trust issued no checks for claims from the December 2010–February 2011 filing period. Year-end investments totaled $5.051 million and cash was $93,791, while deferred claims increased by $500 to $188,998. Those deferred claims represent previously approved claims returned to the trust. Much of the improvement in equity came from unrealized gains, and the larger balance did not reflect a renewed claimant-payment cycle.

M.H. Detrick’s net claimants’ equity declined $468,122 in 2022, from $4.737 million to $4.269 million. Realized investment losses of $256,859 and unrealized losses of $283,437 outweighed a $150,000 company distribution and $54,214 of investment income. Operating and claims-resolution expenses added $132,040 to the reduction. The trust ended the year with $4.372 million in investments and $80,543 in cash.

No checks were issued for claims from the filing period that closed in February 2011, and deferred claims remained $188,498. The attached 2022 filing is incomplete and omits the statement of changes in net claimants’ equity. The income, company-distribution, and expense figures above are taken from the audited 2022 comparative column in the 2023 report; the 2022 attachment itself supports the year-end balances and no-checks disclosure. A complete 2022 copy is still needed for the download collection.

M.H. Detrick’s net claimants’ equity rose $621,027 in 2021 to $4.737 million. A $500,000 company distribution was the largest contributor, supplemented by $95,495 of investment income and $166,122 of unrealized gains, partly offset by $8,409 in realized losses. Total additions of $753,208 exceeded $132,181 in operating and claims-resolution expenses.

No checks were issued for claims from the December 2010–February 2011 filing period. Year-end assets included $4.825 million in investments and $100,995 in cash, with $188,498 in deferred claims representing previously approved claims returned to the trust. The growth in equity reflected company funding and investment gains rather than a resumption of claimant checks.

M.H. Detrick’s net claimants’ equity declined $70,603 in 2020 to $4.116 million. Investment income of $66,369 and realized gains of $1,589 were partly offset by $23,537 of unrealized losses, leaving $44,421 in additions against $115,024 in operating and claims-resolution expenses. No company distribution or company-sale gain was recorded, unlike the prior year.

The trust issued no checks for claims from the filing period that closed in February 2011. It ended 2020 with $228,418 in cash and $4.076 million in investments, almost entirely government and municipal obligations. Deferred claims of $187,198 reflected previously approved claims returned to the trust, not new payments. The decline in equity principally reflected operating costs exceeding investment results.

M.H. Detrick’s net claimants’ equity increased $365,824 in 2019 to $4.186 million. The statements recorded a $270,688 gain on the company investment, a $100,000 company distribution, $86,996 of investment income, and $9,974 of unrealized gains. Together these additions of $467,658 exceeded operating and claims-resolution expenses of $101,834. The company-related proceeds were the main reason equity grew.

No checks were issued for claims from the December 2010–February 2011 filing period. Year-end investments totaled $4.232 million, almost entirely government and municipal obligations, alongside $141,710 in cash. Deferred claims remained $186,198 and represented previously approved claims returned to the trust, rather than new claimant distributions. The year’s increase in resources therefore did not coincide with a renewed payment cycle.

M.H. Detrick’s net claimants’ equity declined $82,535 in 2018, from $3.903 million to $3.821 million. Investment income, company-loan interest, and realized and unrealized investment results—including a $6,050 gain on the company investment—generated $102,574 in additions. Operating and claims-resolution expenses rose to $185,109. The company’s assets were sold during the year, and the trust ended the year without the company investment or company-loan balances shown in 2017.

No checks were issued for claims from the filing period that closed in February 2011. Year-end assets consisted of $443,005 in cash and $3.564 million in investments, almost entirely government and municipal obligations. Deferred claims of $186,198 represented previously approved claims returned to the trust, which the notes say are to go to charity upon termination; that balance is not a measure of newly paid claims.

M.H. Detrick’s net claimants’ equity declined $30,445 in 2017 to $3.903 million. Investment income of $60,231, company-loan interest of $40,240, and net investment gains produced $105,610 in additions, below $136,055 in operating and claims-resolution expenses. No company distribution was recorded during the year.

The trust issued no checks for claims from the December 2010–February 2011 filing period. It converted $150,000 of company-loan principal and accrued interest into capital in M.H. Detrick Company; this was a noncash transaction, not a new contribution received by the trust. At year-end the company investment was carried at $150,001 and remaining company loans at $470,000. An additional $182,198 was recorded as the uncashed-check fund.

M.H. Detrick’s net claimants’ equity was nearly unchanged in 2016, declining $1,133 to $3.934 million. A $70,000 company distribution, $46,710 of investment income, $11,501 of company-loan interest, and modest net investment gains produced $130,309 in additions. Operating and claims-resolution expenses of $131,442 slightly exceeded that total.

The trust issued no checks for claims from the filing period that closed in February 2011. It made three new loans to M.H. Detrick Company totaling $570,000, each bearing 7% interest and payable on demand. At year-end it held approximately $3.294 million in investments and $242,342 in cash, alongside the company loans. The stable equity balance therefore included a meaningful company receivable rather than consisting entirely of cash and marketable investments.

M.H. Detrick’s net claimants’ equity increased $391,634 in 2015, from $3.543 million to $3.935 million. A $500,000 company distribution was the principal source of growth. Investment income and company-loan interest, after realized and unrealized investment results, added another $58,219. Operating and claims-resolution expenses totaled $166,585, up from $127,284 in 2014.

No checks were issued in 2015 for claims filed during the December 2010–February 2011 filing period, following the $494,100 distributed in 2014. The $300,000 company loan and its interest were repaid in full in November 2015, improving liquidity without constituting new income for the principal amount. The increase in equity thus reflected company funding and the absence of new claimant checks, rather than an increase in claim payouts.

M.H. Detrick’s net claimants’ equity fell $88,520 in 2014, from $3.632 million to $3.543 million. A $500,000 company distribution and $66,640 of investment income supported the trust, while $153,938 of realized gains were largely offset by $151,083 of unrealized losses. Deductions included $494,100 in claims, $127,284 in operating and claims-resolution expenses, and $36,631 in federal income tax expense.

The trust issued $100 checks to 4,941 claimants whose claims came from the filing period that closed in February 2011. This was payment of that earlier cohort rather than a new filing cycle. At year-end the trust also made a $300,000 demand loan to M.H. Detrick Company at 7% interest. Company funding remained important, but claims and operating costs exceeded the year’s total additions.

M.H. Detrick ended 2010 with $3.210 million in net claimants’ equity, up $390,345 from $2.820 million. A $450,000 company distribution accounted for most of the $483,102 in additions; investment income, company-loan interest, and investment gains supplied the balance. Operating and claims-resolution expenses were $92,749, with $8 recorded as claims. The trust also advanced a new $600,000 demand loan to M.H. Detrick Company at 12% interest, making company credit exposure a material part of its assets.

A new filing period opened December 12, 2010 and closed February 10, 2011. The claims note says no additional claims were approved for payment during 2010 because payments remained constrained by available funds. The report continued to describe fixed-dollar settlements; the $8 claims expense should not be taken as evidence of a broader payment program or a count of new approvals.

M.H. Detrick’s net claimants’ equity rose by $750,356 in 2008, from $1.828 million to $2.579 million. A $925,000 company distribution drove the increase despite investment losses: $53,432 of investment income was outweighed by $137,149 of unrealized losses and $22,893 of realized losses. Operating and claims-resolution expenses were $67,922, and the statements recorded a further $112 in claims.

There was no open filing period in 2008. The claims note refers back to the approximately 36,780 recipients of $8 checks in 2007 and states that no additional claims were approved in either year. The small claims expense therefore should not be converted into an inferred count of newly approved claimants. The year’s improvement principally reflected company funding rather than investment performance or an expansion of claim payments.

M.H. Detrick’s net claimants’ equity declined by $288,696 during 2007, from $2.117 million to $1.828 million. The financial statements recorded $294,312 in claims, $77,698 in operating and claims-resolution expenses, and $7,537 in federal income tax expense. Investment and company-loan interest income, less investment sale losses, contributed $90,851, covering only part of those deductions.

The trust completed its first filing period, February 25 through April 26, receiving approximately 36,800 claims. The claims note reports $8 checks issued to approximately 36,780 claimants, with payments limited by available funds and no additional claims approved that year. Those approximate counts should not be treated as an exact reconciliation of the claims expense. The report describes a fixed-dollar settlement process, with uncashed checks directed to a designated charity.

M.H. Detrick ended 2006 with $2.117 million in net claimants’ equity, essentially unchanged from $2.115 million at the beginning of the year. Investment and loan interest income, together with realized and unrealized investment results, produced $79,334 in additions, slightly exceeding $64,811 in operating and claims-resolution expenses and $12,405 in federal income tax expense. The company loan remained an important asset: interest payments had been suspended, its maturity was extended to December 2007, and the trust received a $50,000 principal payment in December 2006.

The report anticipated opening claims filing from February 25 through April 26, 2007. Its subsequent-event note described fixed settlements of $8 for web-processed claims and $6 for telephone-processed claims, subject to available funds. These were plans for the following year, not payments made in 2006. The report’s estimate of 120,000 claims was a planning estimate rather than an actual filing count.