04-HP-876_newMDA.qxd 12/15/04 3:04 PM Page 74 The target allocation for 2005 and the asset allocation for the domestic Pension Plan at the end of fiscal 2004 and 2003, by asset category, follows: Substantially all employees on the United States payroll of the Company may elect to participate in the Company sponsored 401(k)/Thrift Plan by contributing a portion of their earnings. The Company contributes amounts equal to 100 percent of the first five percent of the par ticipant’s compensation subject to certain limitations. Expensed Company contributions wer $5.6 million, $5.6 million, and $5.2 million in 2004, 2003, and  2002, respectively. DEFINED CONTRIBUTION PLAN The fair value of plan assets was $56.7 million and $53.6 million at September 30, 2004 and 2003, respectively, and the expected long-term rate of return on these plan assets was 8% in 2004 and 8% in 2003.  The following reflects the activity in the Company’s reserve for bad debt for 2004 and 2003: NOTE 11 SUPPLEMENTAL BALANCE SHEET INFORMATION Asset Category 2005 2004 2003 U.S. equities 56% 57% 57% International equities 14 15 15 Fixed income 25 27 26 Real estate and other 5 1 2 Total 100% 100% 100% Percentage of Plan Assets At September 30, Target Allocation 75 2004 2003 (in thousands) Reserve for bad debt: Balance at October 31, $ 1,319 $ 1,337 Provision for bad debt 15 45 Write-off of bad debt (69) (63) Balance at September 30, $ 1,265  $ 1,319