-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Udit1atkfDl4kwLMxobo4AxeJRSZcOFIq2W5E/sLY4rvghPQwwr3s/LatRs1+o3u Rj7d/UcTAreo+Q85L5/a0w== 0000950129-99-002906.txt : 19990630 0000950129-99-002906.hdr.sgml : 19990630 ACCESSION NUMBER: 0000950129-99-002906 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORE LABORATORIES N V CENTRAL INDEX KEY: 0001000229 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 000000000 STATE OF INCORPORATION: P7 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-14273 FILM NUMBER: 99655393 BUSINESS ADDRESS: STREET 1: 1017 BZ AMSTERDAM STREET 2: HERENGRACHT 424 CITY: THE NETHERLANDS STATE: P7 BUSINESS PHONE: 3124203191 MAIL ADDRESS: STREET 1: HERENGRACHT 424 STREET 2: 1017 BZ AMSTERDAM CITY: THE NETHERLANDS STATE: P7 11-K 1 CORE LABORATORIES, INC. - DATED 12/31/1998 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1998 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from _______________ to __________________ Commission File Number 0-26710 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN 5295 Hollister Road Houston, Texas 77040 B. Name and issuer of the securities held pursuant to the plan and the address of its principal executive office: Core Laboratories, N.V. Herengracht 424 1017 B2 Amsterdam The Netherlands 2 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. Dated: June 29, 1999 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN By: /s/ Richard L. Bergmark ------------------------------- Richard L. Bergmark 3 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 TOGETHER WITH AUDITORS' REPORT 4 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN INDEX TO FINANCIAL STATEMENTS, EXHIBITS AND SUPPLEMENTAL SCHEDULES DECEMBER 31, 1998
Page(s) ------- Report of Independent Public Accountants.................................................................. 1 Financial Statements- Statements of Net Assets Available for Benefits as of December 31, 1998 and 1997....................... 2 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1998.................................................................................... 3 Notes to Financial Statements............................................................................. 4-10 Exhibits- Exhibit 1 - Statements of Net Assets Available for Benefits, With Fund Information as of December 31, 1998 and 1997........................................................................... 11-12 Exhibit 2 - Statement of Changes in Net Assets Available for Benefits, With Fund Information for the Year Ended December 31, 1998..................................................... 13 Supplemental Schedules- Schedule I - Item 27 (a) Schedule of Assets Held for Investment Purposes as of December 31, 1998.................................................................................. 14 Schedule II - Item 27 (d) Schedule of Reportable Transactions - Individual Transactions for the Year Ended December 31, 1998.................................................................... 15 Schedule III - Item 27 (d) Schedule of Reportable Transactions - Series of Transactions for the Year Ended December 31, 1998.................................................................... 16 Schedule IV - Item 27 (e) Schedule of Non-Exempt Transactions for the Year Ended December 31, 1998.................................................................................. 17
5 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Plan Administrator of the Core Laboratories, Inc. Profit Sharing and Retirement Plan: We have audited the accompanying statements of net assets available for benefits of the Core Laboratories, Inc. Profit Sharing and Retirement Plan (the "Plan") as of December 31, 1998 and 1997, and the related statement of changes in net assets available for benefits for the year ended December 31, 1998. These financial statements and the supplemental schedules referred to below are the responsibility of the Plan Administrator. Our responsibility is to express an opinion on these financial statements and supplemental schedules based on our audits. We conducted our audits in accordance with generally accepted auditing standards. 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 benefits of the Plan as of December 31, 1998 and 1997, and the changes in net assets available for benefits for the year ended December 31, 1998, in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes as of December 31, 1998, (Schedule I), reportable transactions for the year ended December 31, 1998, (Schedules II and III), and non-exempt transactions for the year ended December 31, 1998, (Schedule IV), are presented for purposes of additional analysis and are not a required part of the basic financial statements but are 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 schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. ARTHUR ANDERSEN LLP Houston, Texas June 23, 1999 1 6 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1998 AND 1997
1998 1997 ------------ ------------ INVESTMENTS, at fair value- Cash and cash equivalents $ 1,177,269 $ -- Invesco Stable Value Fund 2,020,299 -- Bond Fund of America 1,960,233 -- Franklin Real Estate Securities Fund A 1,317,460 -- Washington Mutual Investors 5,161,187 -- Massachusetts Investors Trust A 2,826,982 -- Franklin Balance Sheet Investment Fund 2,395,737 -- MFS Emerging Growth Fund A 1,855,962 -- EuroPacific Growth Fund 1,373,828 -- Templeton Foreign Smaller Companies Fund I 662,863 -- Templeton Developing Markets Trust I 665,056 -- Core Laboratories N.V. Common Stock 8,573,164 6,786,883 CMA Government Securities Fund 101,306 -- Merrill Lynch Retirement Preservation Trust Fund 300,433 -- Eaton Vance Income Fund 357,272 -- Global Allocation Fund 392,846 -- AIM Value Fund 453,188 -- Alliance Growth Fund 511,257 -- AIM Constellation Fund 292,090 -- Templeton Foreign Fund 115,124 -- Seligman Communications and Information Fund 196,728 -- Conseco Life Insurance Contracts 67,326 -- Transamerican Stable Value 79,388 -- Transamerican Bond 65,374 -- Transamerican Cash Management 21,361 -- Transamerican Equity Index 111,359 -- Transamerican Equity 283,190 -- Fidelity Managed Income Portfolio -- 2,809,163 Ivy International Fund -- 25,543 NationsBank Prime Portfolio Trust A Shares -- 12,729,814 Loans receivable from participants 952,530 734,535 ------------ ------------ Total investments 34,290,812 23,085,938 CONTRIBUTIONS RECEIVABLE- Participant 14,678 191,813 Company 733,688 97,139 ------------ ------------ Total contributions receivable 748,366 288,952 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 542,343 37,285 ACCRUED PAYABLE -- (140,124) ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 35,581,521 $ 23,272,051 ============ ============
The accompanying notes to financial statements are an integral part of these financial statements. 2 7 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1998 ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: Investment income- Interest and dividend income $ 1,512,951 Net appreciation of investments 339,167 ------------ Total investment income 1,852,118 Contributions- Participant 2,804,193 Company 2,727,146 Rollovers 38,425 Transfers from other plans (Note 6) 7,478,529 ------------ 13,048,293 DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: Expenses (76,885) Distributions to participants (2,514,056) ------------ Net increase in net assets available for benefits for the year 12,309,470 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 23,272,051 ------------ End of year $ 35,581,521 ============
The accompanying notes to financial statements are an integral part of this financial statement. 3 8 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1998 1. SUMMARY OF SIGNIFICANT PLAN PROVISIONS: The Core Laboratories, Inc. Profit Sharing and Retirement Plan (the "Plan" or "Core Plan") was established by Core Laboratories, Inc. (the "Company"), effective October 1, 1994. The Plan allows participants to contribute up to 12 percent of their compensation, as defined by the Plan, on a pretax basis. The Company may, at its discretion, elect to make matching contributions to the account of each participant in the Plan a percentage of each participant's compensation, as defined. During 1998, the Company elected to contribute up to 4 percent of each participant's compensation. The Company may, at its discretion, also contribute for a Plan year an additional amount with respect to each participant who has completed one year of service and is employed by the Company on the last day of such Plan year. The Company's board of directors shall determine whether such contribution shall be made for a Plan year, the matching percentage and the percentage of a participant's compensation upon which the match shall be based. Total Company contributions of $2,727,146 were approved by the board of directors in 1998. The following description of key features of the Plan provide only general information. Participants should refer to the Plan document for a more complete explanation of the Plan's provisions. PLAN ADMINISTRATOR AND TRUSTEE The Company is the Plan administrator as defined under the Employee Retirement Income Security Act of 1974, as amended (ERISA). Prior to January 1, 1998, the Company had contracted with J.E. Stone & Associates to maintain the Plan's participant account balances. Effective January 1, 1998, the Company contracted with The 401K Company (the "Recordkeeper") to maintain the Plan's participant account balances. Prior to January 1, 1998, NationsBank of Texas, N.A., was the trustee of all investments held by the plan. Effective January 1, 1998, Austin Trust Company (the "Trustee") became the trustee of all investments held by the Plan. ELIGIBILITY Substantially all of the Company's employees are eligible to participate in the Plan. Participation may commence upon the later of the first day of the calendar quarter coincident with or following such eligible employee's date of hire or the date on which such employees attain the age of 21. VESTING Participants are fully vested in their contributions and related earnings/losses and vest in Company contributions and related earnings/losses at the rate of 20 percent for each year of service. Upon death, physical or mental disability, or normal retirement, all participants become fully vested in Company contributions and related earnings/losses. 4 9 INVESTMENT PROGRAM Prior to January 1, 1998, participants had the option of investing their contributions, the Company's matching contributions and any additional Company contributions in any of the following funds (description provided by investment managers): Fidelity Managed Income Portfolio--Investments were made in high-quality short- and long-term investment contracts with variable and fixed rates that had maturities of between one and seven years, with the objective of preservation of capital and a low risk level. Fidelity Asset Manager--Investments were made in domestic and foreign stocks, bonds and short-term instruments with the objective of high return with reduced risk. Longleaf Partners Fund--Investments were made in securities of companies having a market capitalization of $1 billion or less with the objective of long-term capital growth. Ivy International Fund--Investments were made in foreign and domestic equity securities with the objective of long-term capital growth. Core Laboratories N.V. Common Stock Fund-- Participants had the option of investing in Core Laboratories N.V. common stock. Investments were in the common stock of the Company purchased at prevailing market prices. In anticipation of the change in service providers, options previously offered were liquidated and invested in the new options described below at the participant's direction. The Core Laboratories N.V. Common Stock Fund was transferred in-kind. Effective January 1, 1998, the following new options were available to participants for investing their contributions, the Company's matching contributions and any additional Company contributions in any of the following funds (description provided by investment managers): Invesco Stable Value Fund - Investments are made in a diversified portfolio of investment contracts with insurance companies, banks, or other financial institutions and in various mutual funds with the objective of producing consistent, positive returns while preserving principal and maintaining liquidity. The investment contracts are recorded at contract value, which approximates fair value. The average yield for the year ended December 31, 1998, was 6.43 percent. Uninvested funds are temporarily held in the Alliance Money Reserves, a money market fund, pending investment. Bond Fund of America - Investments are made in high quality corporate bonds and U.S. government securities and money market securities that have limited short-term risk and limited prospects for long-term performance. Franklin Real Estate Securities Fund A - Investments are made in stocks of real estate investment trusts securities with some short-term risk and volatility and the potential for good long-term performance. Washington Mutual Investors - Investments are made in high-quality stocks and securities that are convertible to stocks with the objective of long-term principal growth. 5 10 Vanguard Index Trust 500 Portfolio - Investments are made in a collection of stocks of U.S. companies in similar proportions to the S&P 500 Index with the objective of mirroring the S&P 500 Index. This fund was available for election effective January 1, 1999. The Company discretionary contribution is reflected as a receivable in this fund at December 31, 1998. Massachusetts Investors Trust A - Investments are made in all types of stocks listed on securities exchanges, traded in various over-the-counter markets or outside organized markets with the objective of current income and long-term growth of capital and income. Franklin Balance Sheet Investment Fund - Investments are made in small company securities that are undervalued in the marketplace and closed-end funds that trade below net asset value. MFS Emerging Growth Fund A - Investments are made in stocks of small and medium-sized emerging growth companies with the objective of long-term capital growth. EuroPacific Growth Fund - Investments are made in a selection of companies based outside the United States with the objective of long-term capital appreciation. Templeton Foreign Smaller Companies Fund I - Investments are made in the stocks of small companies with the objective of long-term capital growth. Templeton Developing Markets Trust I - Investments are made primarily in stocks of developing market issuers and bonds with the objective of long-term capital appreciation. Core Laboratories N.V. Common Stock Fund - Participants have the option of investing in Core Laboratories N.V. common stock. Investments are in the common stock of the Company purchased at prevailing market prices. Uninvested funds are temporarily held in the Alliance Government Reserves, a money market fund, pending investment. Participants who are seeking guidance in their investment direction can choose among the following Asset Allocation Models: Short-Term Model (1-5 years) - This option is designed for participants with short-term investment goals and invests 60 percent of its assets in the Invesco Stable Value Fund, 15 percent in the Bond Fund of America, 10 percent in Franklin Real Estate Securities Fund A, 5 percent in Washington Mutual Investors, 5 percent in EuroPacific Growth Fund, and 5 percent in Templeton Foreign Smaller Companies Fund I. Medium-Term Model (5-10 years) - This option is designed for participants with medium-term investment goals and invests 10 percent of its assets in the Invesco Stable Value Fund, 20 percent in the Bond Fund of America, 15 percent in Franklin Real Estate Securities Fund A, 25 percent in Washington Mutual Investors, 10 percent in Massachusetts Investors Trust A, 5 percent in Franklin Balance Sheet Investment Fund, 5 percent in EuroPacific Growth Fund, 5 percent in Templeton Foreign Smaller Companies Fund I, and 5 percent in Templeton Developing Markets Trust I. Long-Term Model (10-15 years) - This option is designed for participants with long-term investment goals and invests 10 percent in the Bond Fund of America, 10 percent in Franklin Real Estate Securities Fund A, 20 percent in Washington Mutual Investors, 15 percent in Massachusetts Investors Trust A, 15 percent in Franklin Balance Sheet Investment Fund, 10 percent in MFS Emerging Growth Fund A, 10 percent in EuroPacific Growth Fund, 5 percent 6 11 in Templeton Foreign Smaller Companies Fund I, and 5 percent in Templeton Developing Markets Trust I. Longer-Term Model (15+ years) - This option is designed for participants with longer term investment goals and invests 20 percent in Washington Mutual Investors, 10 percent in Massachusetts Investors Trust A, 25 percent in Franklin Balance Sheet Investment Fund, 15 percent in MFS Emerging Growth Fund A, 10 percent in EuroPacific Growth Fund, 10 percent in Templeton Foreign Smaller Companies Fund I, and 10 percent in Templeton Developing Markets Trust I. Participants who select one of the above Asset Allocation Models can also choose to invest a portion of their account balances in the Core Laboratories N.V. Common Stock Fund. Contributions may be invested in one fund or divided among two or more funds. Participants may transfer some or all of the balances out of any fund into one or any combination of the other funds on a daily basis. (See Exhibits 1 and 2 for statements of net assets available for benefits, with fund information as of December 31, 1998 and 1997, and statement of changes in net assets available for benefits, with fund information for the year ended December 31, 1998.) Investments in the Invesco Stable Value Fund and Core Laboratories N.V. Common Stock Fund are assigned units of participation. The unit value is determined daily based upon the fair market value of the underlying net assets. The total units assigned to participants and the unit values at December 31, 1998 were as follows:
Units Unit Value --------- ---------- Invesco Stable Value Fund 2,184,462 $ 1.050 Core Laboratories N.V. Common Stock Fund 9,119,264 $ 1.014
ADMINISTRATIVE EXPENSES The Plan pays all administrative expenses. PRIORITIES UPON PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100 percent vested in their accounts. LOANS The Plan permits participants to borrow a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or 50 percent of their vested account balances in the Plan. These loans bear interest at treasury rates plus 4 percent and are repaid through payroll deductions over a period not to exceed 5 years. WITHDRAWALS AND FORFEITURES A participant may elect to receive benefit payments through any one of the several methods provided by the Plan upon termination, retirement or financial hardship. Participants can withdraw 7 12 their after-tax contributions in cash without being suspended from making additional contributions to the Plan. Hardship withdrawals are allowed in the event of immediate and heavy financial need, subject to Internal Revenue Code of 1986, as amended (the "Code") provisions. The participants can withdraw up to 100 percent of their pre-tax contributions and are suspended for at least 12 months from making additional contributions to the Plan. Upon termination of employment with the Company, any unvested Company contributions and related earnings/losses are forfeited. Participants returning to the Company within 60 months of their initial termination are entitled to have their previous account balance reinstated by the Company. During 1998, approximately $79,200 of forfeited balances were utilized to reduce the Company's contributions. At December 31, 1998, forfeited amounts of $77,900 were available to reduce future employer contributions. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: BASIS OF ACCOUNTING The financial statements of the Plan are presented under the accrual method of accounting. Distributions to participants are recorded when paid. INVESTMENT VALUATION Pursuant to the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA, the Plan reports the investments in the financial statements at fair value in accordance with generally accepted accounting principles. The fair value of the investments in the collective trusts are based on the market value of their underlying assets, as determined by the investment issuer. Investments in mutual funds and common stock are reported at fair market value based on quoted market prices. Investment income is recorded as earned. Net realized and unrealized appreciation (depreciation) is recorded in the accompanying statements of changes in net assets available for benefits as net appreciation (depreciation) of investments. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions that affect the accompanying financial statements and disclosures. Actual results could differ from those estimates. 3. RISKS AND UNCERTAINTIES: The Plan provides for various investments in common collective trusts, mutual funds and common stock. Investment securities, in general, are exposed to various risk, such as interest rate, credit and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is 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 statements of net assets available for benefits and participant account balances. 8 13 4. TAX STATUS: The Plan obtained its latest determination letter on November 12, 1996, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Code. The Plan has been amended since receiving the determination letter. However, the Company believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code. Therefore, the Company believes that the Plan was qualified and tax-exempt as of the financial statement date. 5. RECONCILIATION OF FORM 5500: Benefits payable to participants are included in net assets available for benefits and are not reflected as a liability in the financial statements. As of December 31, 1998 and 1997, the benefits payable to participants total $80,340 and $141,979, respectively. The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 as of December 31, 1998 and 1997:
1998 1997 ------------ ------------ Net assets available for benefits per the financial statements $ 35,581,521 $ 23,272,051 Less- Current distributions payable to participants at end of year (80,340) (141,979) ------------ ------------ Net assets available for benefits per the Form 5500 $ 35,501,181 $ 23,130,072 ============ ============
The following is a reconciliation of distributions to participants per the financial statements to the Form 5500 for the year ended December 31, 1998:
1998 ------------ Distributions to participants per the financial statements $ 2,514,056 Add- Current-year distributions payable to participants at end of year 80,340 Less- Prior-year distributions payable to participants at end of year (141,979) ------------ Distributions to participants per the Form 5500 $ 2,452,417 ============
Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, but not yet paid as of that date. 6. TRANSFERS FROM OTHER PLANS: Effective January 1, 1998, the Stim-Lab, Inc. 401(k) Profit Sharing Plan (the "Stim-Lab Plan") and the Saybolt Inc. 401(k) Retirement Plan (the "Saybolt Plan") were merged with the Core Plan. Stim-Lab, Inc. is a 100% owned subsidiary acquired in December 1997, and Saybolt Inc. is a 100% owned subsidiary acquired in May 1997. Plan assets of approximately $0.5 million were transferred from the Stim-Lab Plan and $3.4 million from the Saybolt Plan into the Core Plan during 1998. Effective January 1, 1998, participants of the Stim-Lab Plan who had 3 or more years of service were given 100% vesting of their account balances. Effective December 31, 1998, the Owen Oil Tools, Inc. 401(k) Profit Sharing Plan (the "Owen Plan") and The Andrews Group, Inc. 401(k) & Profit Sharing Plan (the "Andrews Plan") were 9 14 merged with the Core Plan. Owen Oil Tools, Inc. is a 100% owned subsidiary acquired in June 1998, and The Andrews Group, Inc. is a 100% owned subsidiary acquired in December 1998. Plan assets of approximately $3.0 million were transferred from the Owen Plan and $0.6 million from the Andrews Plan into the Core Plan on December 31, 1998, and are included under Merged Plans in the statement of net assets available for benefits, with fund information (Exhibit 1). Effective December 31, 1998, special vesting provisions applied to the Owen Plan participants as defined in the merger agreement. Also effective December 31, 1998, a special provision was made to the plan to allow annuity distributions to Owen Plan and Andrews Plan participants. 7. SUBSEQUENT EVENTS: In conjunction with the Company's definitive merger agreement with Coherence Technology Company, Inc. ("CTC"), the Company intends to merge the Coherence Technology Company, Inc. 401 (k) Plan into the Company's Plan effective July 1, 1999. 10 15 EXHIBIT 1 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION AS OF DECEMBER 31, 1998
Franklin Real Invesco Estate Washington Vanguard Stable Value Bond Fund of Securities Mutual Index Trust Fund America Fund A Investors 500 Portfolio ----------- ----------- ----------- ----------- ----------- INVESTMENTS, at fair value- Cash and cash equivalents $ 273,386 $ -- $ -- $ -- $ -- Invesco Stable Value Fund 2,020,299 -- -- -- -- Bond Fund of America -- 1,960,233 -- -- -- Franklin Real Estate Securities Fund A -- -- 1,317,460 -- -- Washington Mutual Investors -- -- -- 5,161,187 -- Massachusetts Investors Trust A -- -- -- -- -- Franklin Balance Sheet Investment Fund -- -- -- -- -- MFS Emerging Growth Fund A -- -- -- -- -- EuroPacific Growth Fund -- -- -- -- -- Templeton Foreign Smaller Companies Fund I -- -- -- -- -- Templeton Developing Markets Trust I -- -- -- -- -- Core Laboratories N.V. Common Stock -- -- -- -- -- CMA Government Securities Fund -- -- -- -- -- Merrill Lynch Retirement Preservation Trust Fund -- -- -- -- -- Eaton Vance Income Fund -- -- -- -- -- Global Allocation Fund -- -- -- -- -- AIM Value Fund -- -- -- -- -- Alliance Growth Fund -- -- -- -- -- AIM Constellation Fund -- -- -- -- -- Templeton Foreign Fund -- -- -- -- -- Seligman Communications and Information Fund -- -- -- -- -- Conseco Life Insurance Contracts -- -- -- -- -- Transamerican Stable Value -- -- -- -- -- Transamerican Bond -- -- -- -- -- Transamerican Cash Management -- -- -- -- -- Transamerican Equity Index -- -- -- -- -- Transamerican Equity -- -- -- -- -- Loans receivable from participants -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- Total investments 2,293,685 1,960,233 1,317,460 5,161,187 -- CONTRIBUTIONS RECEIVABLE- Participants -- -- -- -- -- Company 62,486 51,950 45,848 123,218 14,998 ----------- ----------- ----------- ----------- ----------- Total contributions receivable 62,486 51,950 45,848 123,218 14,998 ACCRUED INTERFUND TRANSFERS, NET 30,592 9,970 9,876 27,198 178 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 3,465 21,405 -- 461,076 -- ----------- ----------- ----------- ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $ 2,390,228 $ 2,043,558 $ 1,373,184 $ 5,772,679 $ 15,176 =========== =========== =========== =========== =========== Franklin Templeton Balance MFS Foreign Massachusetts Sheet Emerging Smaller Investors Investment Growth Fund EuroPacific Companies Trust A Fund A Growth Fund Fund I ----------- ----------- ----------- ----------- ----------- INVESTMENTS, at fair value- Cash and cash equivalents $ -- $ -- $ -- $ -- $ -- Invesco Stable Value Fund -- -- -- -- -- Bond Fund of America -- -- -- -- -- Franklin Real Estate Securities Fund A -- -- -- -- -- Washington Mutual Investors -- -- -- -- -- Massachusetts Investors Trust A 2,826,982 -- -- -- -- Franklin Balance Sheet Investment Fund -- 2,395,737 -- -- -- MFS Emerging Growth Fund A -- -- 1,855,962 -- -- EuroPacific Growth Fund -- -- -- 1,373,828 -- Templeton Foreign Smaller Companies Fund I -- -- -- -- 662,863 Templeton Developing Markets Trust I -- -- -- -- -- Core Laboratories N.V. Common Stock -- -- -- -- -- CMA Government Securities Fund -- -- -- -- -- Merrill Lynch Retirement Preservation Trust Fund -- -- -- -- -- Eaton Vance Income Fund -- -- -- -- -- Global Allocation Fund -- -- -- -- -- AIM Value Fund -- -- -- -- -- Alliance Growth Fund -- -- -- -- -- AIM Constellation Fund -- -- -- -- -- Templeton Foreign Fund -- -- -- -- -- Seligman Communications and Information Fund -- -- -- -- -- Conseco Life Insurance Contracts -- -- -- -- -- Transamerican Stable Value -- -- -- -- -- Transamerican Bond -- -- -- -- -- Transamerican Cash Management -- -- -- -- -- Transamerican Equity Index -- -- -- -- -- Transamerican Equity -- -- -- -- -- Loans receivable from participants -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- Total investments 2,826,982 2,395,737 1,855,962 1,373,828 662,863 CONTRIBUTIONS RECEIVABLE- Participants -- -- -- -- -- Company 75,511 70,984 56,819 37,364 25,478 ----------- ----------- ----------- ----------- ----------- Total contributions receivable 75,511 70,984 56,819 37,364 25,478 ACCRUED INTERFUND TRANSFERS, NET 16,110 16,970 11,729 8,200 5,601 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE -- -- -- 51,313 -- ----------- ----------- ----------- ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $ 2,918,603 $ 2,483,691 $ 1,924,510 $ 1,470,705 $ 693,942 =========== =========== =========== =========== =========== Core Templeton Laboratories Developing N.V. Merged Markets Common Plans Trust I Stock Fund Loan Fund Other (see Note 6) Total ----------- ----------- ----------- ----------- ------------ ----------- INVESTMENTS, at fair value- Cash and cash equivalents $ -- $ 673,770 $ -- $ 230,113 $ -- $ 1,177,269 Invesco Stable Value Fund -- -- -- -- -- 2,020,299 Bond Fund of America -- -- -- -- -- 1,960,233 Franklin Real Estate Securities Fund A -- -- -- -- -- 1,317,460 Washington Mutual Investors -- -- -- -- -- 5,161,187 Massachusetts Investors Trust A -- -- -- -- -- 2,826,982 Franklin Balance Sheet Investment Fund -- -- -- -- -- 2,395,737 MFS Emerging Growth Fund A -- -- -- -- -- 1,855,962 EuroPacific Growth Fund -- -- -- -- -- 1,373,828 Templeton Foreign Smaller Companies Fund I -- -- -- -- -- 662,863 Templeton Developing Markets Trust I 665,056 -- -- -- -- 665,056 Core Laboratories N.V. Common Stock -- 8,573,164 -- -- -- 8,573,164 CMA Government Securities Fund -- -- -- -- 101,306 101,306 Merrill Lynch Retirement Preservation Trust Fund -- -- -- -- 300,433 300,433 Eaton Vance Income Fund -- -- -- -- 357,272 357,272 Global Allocation Fund -- -- -- -- 392,846 392,846 AIM Value Fund -- -- -- -- 453,188 453,188 Alliance Growth Fund -- -- -- -- 511,257 511,257 AIM Constellation Fund -- -- -- -- 292,090 292,090 Templeton Foreign Fund -- -- -- -- 115,124 115,124 Seligman Communications and Information Fund -- -- -- -- 196,728 196,728 Conseco Life Insurance Contracts -- -- -- -- 67,326 67,326 Transamerican Stable Value -- -- -- -- 79,388 79,388 Transamerican Bond -- -- -- -- 65,374 65,374 Transamerican Cash Management -- -- -- -- 21,361 21,361 Transamerican Equity Index -- -- -- -- 111,359 111,359 Transamerican Equity -- -- -- -- 283,190 283,190 Loans receivable from participants -- -- 697,999 -- 254,531 952,530 ----------- ----------- ----------- ----------- ------------ ----------- Total investments 665,056 9,246,934 697,999 230,113 3,602,773 34,290,812 CONTRIBUTIONS RECEIVABLE- Participants -- -- -- -- 14,678 14,678 Company 25,129 139,781 -- -- 4,122 733,688 ----------- ----------- ----------- ----------- ------------ ----------- Total contributions receivable 25,129 139,781 -- -- 18,800 748,366 ACCRUED INTERFUND TRANSFERS, NET 5,380 33,041 -- (174,845) -- -- ACCRUED INTEREST AND DIVIDENDS RECEIVABLE -- -- -- 5,084 -- 542,343 ----------- ----------- ----------- ----------- ------------ ----------- NET ASSETS AVAILABLE FOR BENEFITS $ 695,565 $ 9,419,756 $ 697,999 $ 60,352 $ 3,621,573 $35,581,521 =========== =========== =========== =========== ============ ===========
This exhibit is an integral part of the accompanying financial statements. 11 16 EXHIBIT 1(CONTINUED) CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION AS OF DECEMBER 31, 1997
Core Laboratories Fidelity N.V. Managed Fidelity Longleaf Ivy Common Income Asset Partners International Stock Portfolio Manager Fund Fund Fund ------------ ------------ ------------ ------------ ------------ INVESTMENTS, at fair value- Fidelity Managed Income Portfolio $ 2,809,163 $ -- $ -- $ -- $ -- Ivy International Fund -- -- -- 25,543 -- Core Laboratories N.V. common stock -- -- -- -- 6,786,883 NationsBank Prime Portfolio Trust A shares -- 3,137,092 7,289,612 1,810,464 482,789 Loans receivable from participants -- -- -- -- -- ------------ ------------ ------------ ------------ ------------ Total investments 2,809,163 3,137,092 7,289,612 1,836,007 7,269,672 CONTRIBUTIONS RECEIVABLE- Participant 22,352 31,748 64,348 20,966 52,399 Company 6,457 18,358 33,284 11,747 27,293 ACCRUED INTERFUND TRANSFERS, NET (16,492) (1,986) (46,826) (8,699) 74,895 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 121 1,105 1,306 367 2,674 OTHER ACCRUED RECEIVABLE (PAYABLE) 12,459 7,101 12,082 6,304 10,983 ------------ ------------ ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 2,834,060 $ 3,193,418 $ 7,353,806 $ 1,866,692 $ 7,437,916 ============ ============ ============ ============ ============ Loan Fund Total ------------ ------------ INVESTMENTS, at fair value- Fidelity Managed Income Portfolio $ -- $ 2,809,163 Ivy International Fund -- 25,543 Core Laboratories N.V. common stock -- 6,786,883 NationsBank Prime Portfolio Trust A shares 9,857 12,729,814 Loans receivable from participants 734,535 734,535 ------------ ------------ Total investments 744,392 23,085,938 CONTRIBUTIONS RECEIVABLE- Participant -- 191,813 Company -- 97,139 ACCRUED INTERFUND TRANSFERS, NET (892) -- ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 31,712 37,285 OTHER ACCRUED RECEIVABLE (PAYABLE) (189,053) (140,124) ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 586,159 $ 23,272,051 ============ ============
This exhibit is an integral part of the accompanying financial statements. 12 17 EXHIBIT 2 CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1998
Franklin Vanguard Invesco Real Estate Washington Index Trust Stable Bond Fund Securities Mutual 500 Value Fund of America Fund A Investors Portfolio ----------- ----------- ----------- ----------- ----------- ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: Investment income - Interest and dividend income $ 65,137 $ 123,934 $ 83,699 $ 498,612 $ -- Net appreciation (depreciation) of investments -- (65,008) (311,856) 383,198 -- ----------- ----------- ----------- ----------- ----------- Total investment income 65,137 58,926 (228,157) 881,810 -- Contributions - Participants 180,547 175,101 186,943 465,734 -- Company 218,157 159,588 187,376 431,748 14,998 Rollovers 3,352 2,212 2,666 5,805 -- ----------- ----------- ----------- ----------- ----------- 402,056 336,901 376,985 903,287 14,998 Transfers from other plans (Note 6) -- -- -- -- -- Interfund transfers, net 2,834,328 1,717,054 1,293,285 4,390,047 178 DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: Expenses (4,063) (3,501) (3,092) (9,502) -- Distributions to participants (907,230) (65,822) (65,837) (392,963) -- ----------- ----------- ----------- ----------- ----------- Increase (decrease) in net assets available for benefits for the year 2,390,228 2,043,558 1,373,184 5,772,679 15,176 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of the year -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- End of year $ 2,390,228 $ 2,043,558 $ 1,373,184 $ 5,772,679 $ 15,176 =========== =========== =========== =========== =========== Franklin Templeton Balance MFS Foreign Massachusetts Sheet Emerging EuroPacific Smaller Investors Investment Growth Growth Companies Trust A Fund Fund A Fund Fund I ------------- ----------- ----------- ----------- ----------- ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: Investment income - Interest and dividend income $ 150,034 $ 120,198 $ 16,776 $ 77,124 $ 13,159 Net appreciation (depreciation) of investments 255,111 (214,391) 242,756 108,768 (72,988) ----------- ----------- ----------- ----------- ----------- Total investment income 405,145 (94,193) 259,532 185,892 (59,829) Contributions - Participants 287,948 311,747 224,372 153,600 103,349 Company 276,832 291,738 207,086 142,212 97,573 Rollovers 3,814 3,972 2,782 1,885 1,279 ----------- ----------- ----------- ----------- ----------- 568,594 607,457 434,240 297,697 202,201 Transfers from other plans (Note 6) -- -- -- -- -- Interfund transfers, net 2,285,884 2,055,393 1,298,311 1,144,264 572,998 DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: Expenses (4,668) (5,136) (3,356) (2,587) (1,507) Distributions to participants (336,352) (79,830) (64,217) (154,561) (19,921) ----------- ----------- ----------- ----------- ----------- Increase (decrease) in net assets available for benefits for the year 2,918,603 2,483,691 1,924,510 1,470,705 693,942 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of the year -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- End of year $ 2,918,603 $ 2,483,691 $ 1,924,510 $ 1,470,705 $ 693,942 =========== =========== =========== =========== =========== Core Templeton Laboratories Developing N.V. Merged Markets Common Plans Trust I Stock Fund Loan Fund Other (see Note 6) ----------- ----------- ----------- ----------- ----------- ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: Investment income - Interest and dividend income $ 11,686 $ 21,876 $ 52,855 $ 52,313 $ 161,798 Net appreciation (depreciation) of investments (118,844) 132,421 -- -- -- ----------- ----------- ----------- ----------- ----------- Total investment income (107,158) 154,297 52,855 52,313 161,798 Contributions - Participants 97,028 596,948 -- -- 20,876 Company 83,486 593,228 -- -- 23,124 Rollovers 1,026 8,793 -- -- 839 ----------- ----------- ----------- ----------- ----------- 181,540 1,198,969 -- -- 44,839 Transfers from other plans (Note 6) -- -- 152,574 -- 7,325,955 Interfund transfers, net 638,537 935,835 26,033 30,598 (3,911,019) DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: Expenses (1,403) (15,511) -- (22,559) -- Distributions to participants (15,951) (291,750) (119,622) -- -- ----------- ----------- ----------- ----------- ----------- Increase (decrease) in net assets available for benefits for the year 695,565 1,981,840 111,840 60,352 3,621,573 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of the year -- 7,437,916 586,159 -- -- ----------- ----------- ----------- ----------- ----------- End of year $ 695,565 $ 9,419,756 $ 697,999 $ 60,352 $ 3,621,573 =========== =========== =========== =========== =========== Fidelity Managed Fidelity Longleaf Ivy Income Asset Partners International Portfolio Manager Fund Fund Total ----------- ----------- ----------- ------------- ----------- ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: Investment income - Interest and dividend income $ 56,072 $ 1,372 $ 2,163 $ 4,143 $ 1,512,951 Net appreciation (depreciation) of investments -- -- -- -- 339,167 ----------- ----------- ----------- ------------- ----------- Total investment income 56,072 1,372 2,163 4,143 1,852,118 Contributions - Participants -- -- -- -- 2,804,193 Company -- -- -- -- 2,727,146 Rollovers -- -- -- -- 38,425 ----------- ----------- ----------- ------------- ----------- -- -- -- -- 5,569,764 Transfers from other plans (Note 6) -- -- -- -- 7,478,529 Interfund transfers, net (2,890,132) (3,194,790) (7,355,969) (1,870,835) -- DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: Expenses -- -- -- -- (76,885) Distributions to participants -- -- -- -- (2,514,056) ----------- ----------- ----------- ------------- ----------- Increase (decrease) in net assets available for benefits for the year (2,834,060) (3,193,418) (7,353,806) (1,866,692) 12,309,470 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of the year 2,834,060 3,193,418 7,353,806 1,866,692 23,272,051 ----------- ----------- ----------- ------------- ----------- End of year $ -- $ -- $ -- $ -- $35,581,521 =========== =========== =========== ============= ===========
This exhibit is an integral part of the accompanying financial statements. 13 18 SCHEDULE I CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN ITEM 27(a) SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1998
Historical Current Identity of Issue Description of Investment Cost Value - --------------------------------- -------------------------------------------- ------------ ------------ Alliance Capital Management Corp. Alliance Capital Reserves $ 90,960 $ 90,960 Alliance Capital Management Corp. Alliance Government Reserves 673,770 673,770 Alliance Capital Management Corp. Alliance Money Reserves 273,386 273,386 INVESCO Trust Company Invesco Stable Value Fund 2,020,299 2,020,299 American Funds Group Bond Fund of America 2,016,192 1,960,233 Franklin Templeton Group of Funds Franklin Real Estate Securities Fund A 1,589,961 1,317,460 American Funds Group Washington Mutual Investors 4,882,004 5,161,187 Massachusetts Financial Services Massachusetts Investors Trust A 2,587,825 2,826,982 Franklin Templeton Group of Funds Franklin Balance Sheet Investment Fund 2,591,857 2,395,737 Massachusetts Financial Services MFS Emerging Growth Fund A 1,610,368 1,855,962 American Funds Group EuroPacific Growth Fund 1,292,723 1,373,828 Franklin Templeton Group of Funds Templeton Foreign Smaller Companies Fund I 731,626 662,863 Franklin Templeton Group of Funds Templeton Developing Markets Trust I 766,409 665,056 Core Laboratories N.V. Common Stock Core Laboratories N.V. Common Stock 4,933,863 8,573,164 CMA Funds CMA Government Securities Fund 101,306 101,306 Merrill Lynch Retirement Preservation Trust Fund 300,433 300,433 Eaton Vance Municipal Funds Eaton Vance Income Fund 361,779 357,272 Merrill Lynch Global Allocation Fund 448,289 392,846 AIM Family of Funds AIM Value Fund 357,587 453,188 Alliance Capital Funds Alliance Growth Fund 404,266 511,257 AIM Family of Funds AIM Constellation Fund 250,077 292,090 Franklin Templeton Group of Funds Templeton Foreign Fund 136,882 115,124 Seligman Group Seligman Communications and Information Fund 162,731 196,728 Conseco Life Insurance Companies Conseco Life Insurance Contracts 67,326 67,326 Transamerica Asset Management Transamerican Stable Value 75,560 79,388 Transamerica Asset Management Transamerican Bond 61,063 65,374 Transamerica Asset Management Transamerican Cash Management 20,453 21,361 Transamerica Asset Management Transamerican Equity Index 90,091 111,359 Transamerica Asset Management Transamerican Equity 205,593 283,190 Core Laboratories, Inc. Profit 952,530 952,530 Sharing and Retirement Plan Participant Loans (interest rates ranging from 3.00% to 10.00%) ------------ ------------ Total assets held for investment purposes $ 30,057,209 $ 34,151,659 ============ ============
14 19 SCHEDULE II CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN ITEM 27(d) SCHEDULE OF REPORTABLE TRANSACTIONS - INDIVIDUAL TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998
Purchase Selling Identity of Party Involved Description of Asset Price(a) Price(b) Cost - --------------------------------- ------------------------------------------ ------------ ----------- ----------- Alliance Capital Management Corp. Alliance Capital Reserves $ 12,726,572 $ -- $ 12,726,572 Alliance Capital Management Corp. Alliance Capital Reserves 3,150,493 -- 3,150,493 Alliance Capital Management Corp. Alliance Capital Reserves 2,848,790 -- 2,848,790 Alliance Capital Management Corp. Alliance Capital Reserves -- 9,980,110 9,980,110 Alliance Capital Management Corp. Alliance Capital Reserves -- 2,444,654 2,444,654 Alliance Capital Management Corp. Alliance Capital Reserves -- 2,377,934 2,377,934 Alliance Capital Management Corp. Alliance Capital Reserves -- 1,127,217 1,127,217 American Funds Group Washington Mutual Investors Fund 2,912,489 -- 2,912,489 Fidelity Management Trust Company Fidelity Managed Income Portfolio -- 2,837,834 2,837,834 NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares -- 1,809,681 1,809,681 NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares -- 3,135,363 3,135,363 NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares -- 7,287,083 7,287,083 Current Value of Asset on Transaction Net Identity of Party Involved Description of Asset Date Gain(Loss) - --------------------------------- ------------------------------------------ ------------ ---------- Alliance Capital Management Corp. Alliance Capital Reserves $ 12,726,572 $ -- Alliance Capital Management Corp. Alliance Capital Reserves 3,150,493 -- Alliance Capital Management Corp. Alliance Capital Reserves 2,848,790 -- Alliance Capital Management Corp. Alliance Capital Reserves 9,980,110 -- Alliance Capital Management Corp. Alliance Capital Reserves 2,444,654 -- Alliance Capital Management Corp. Alliance Capital Reserves 2,377,934 -- Alliance Capital Management Corp. Alliance Capital Reserves 1,127,217 -- American Funds Group Washington Mutual Investors Fund 2,912,489 -- Fidelity Management Trust Company Fidelity Managed Income Portfolio 2,837,834 -- NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares 1,809,681 -- NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares 3,135,363 -- NationsBank of Texas N.A. NationsBank Prime Portfolio Trust A Shares 7,287,083 --
(a) Purchase price includes transaction expenses. (b) Selling price is net of transaction expenses. NOTE: This schedule includes each single transaction involving the same assets which amounts to more than 5 percent of Plan assets as of January 1, 1998. 15 20 SCHEDULE III CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN ITEM 27(d) SCHEDULE OF REPORTABLE TRANSACTIONS - SERIES OF TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998
Purchase Selling Identity of Party Involved Description of Asset Price(a) Price(b) Cost - --------------------------------- -------------------------------------------- ------------ ---------- ----------- Alliance Capital Management Corp. Alliance Capital Reserves $25,238,466 $ -- $25,238,466 Alliance Capital Management Corp. Alliance Capital Reserves -- 25,148,411 25,148,411 Core Laboratories Core Laboratories N.V. Common Stock Fund (c) 4,620,051 -- 4,620,051 Core Laboratories Core Laboratories N.V. Common Stock Fund (c) -- 2,775,210 2,654,275 INVESCO Trust Company Invesco Stable Value Fund (c) 4,144,265 -- 4,144,265 INVESCO Trust Company Invesco Stable Value Fund (c) -- 1,850,580 1,850,580 American Funds Group Bond Fund of America 2,404,992 -- 2,404,992 American Funds Group Bond Fund of America -- 379,751 388,800 Franklin Templeton Group Franklin Real Estate Securities Fund A 2,072,937 -- 2,072,937 Franklin Templeton Group Franklin Real Estate Securities Fund A -- 443,621 482,976 American Funds Group Washington Mutual Investors 6,083,190 -- 6,083,190 American Funds Group Washington Mutual Investors -- 1,305,201 1,201,186 Massachusetts Financial Services Massachusetts Investors Trust A 3,240,212 -- 3,240,212 Massachusetts Financial Services Massachusetts Investors Trust A -- 668,341 652,387 Franklin Templeton Group Franklin Balance Sheet Investment Fund 3,067,095 -- 3,067,095 Franklin Templeton Group Franklin Balance Sheet Investment Fund -- 456,967 475,238 Massachusetts Financial Services MFS Emerging Growth Fund A 1,901,133 -- 1,901,133 Massachusetts Financial Services MFS Emerging Growth Fund A -- 287,927 290,765 American Funds Group EuroPacific Growth Fund 1,681,109 -- 1,681,109 American Funds Group EuroPacific Growth Fund -- 416,049 388,386 Fidelity Management Trust Company Fidelity Managed Income Portfolio 28,671 -- 28,671 Fidelity Management Trust Company Fidelity Managed Income Portfolio -- 2,837,834 2,837,834 NationsBank of Texas N.A NationsBank Prime Portfolio Trust A Shares -- 12,729,814 12,729,814 Current Value of Asset on Transaction Net Identity of Party Involved Description of Asset Date Gain(Loss) - --------------------------------- ------------------------------------------ ----------- --------- Alliance Capital Management Corp. Alliance Capital Reserves $25,238,466 $ -- Alliance Capital Management Corp. Alliance Capital Reserves 25,148,411 -- Core Laboratories Core Laboratories N.V. Common Stock Fund (c) 4,620,051 -- Core Laboratories Core Laboratories N.V. Common Stock Fund (c) 2,775,210 120,935 INVESCO Trust Company Invesco Stable Value Fund (c) 4,144,265 -- INVESCO Trust Company Invesco Stable Value Fund (c) 1,850,580 -- American Funds Group Bond Fund of America 2,404,992 -- American Funds Group Bond Fund of America 379,751 (9,049) Franklin Templeton Group Franklin Real Estate Securities Fund A 2,072,937 -- Franklin Templeton Group Franklin Real Estate Securities Fund A 443,621 (39,355) American Funds Group Washington Mutual Investors 6,083,190 -- American Funds Group Washington Mutual Investors 1,305,201 104,015 Massachusetts Financial Services Massachusetts Investors Trust A 3,240,212 -- Massachusetts Financial Services Massachusetts Investors Trust A 668,341 15,954 Franklin Templeton Group Franklin Balance Sheet Investment Fund 3,067,095 -- Franklin Templeton Group Franklin Balance Sheet Investment Fund 456,967 (18,271) Massachusetts Financial Services MFS Emerging Growth Fund A 1,901,133 -- Massachusetts Financial Services MFS Emerging Growth Fund A 287,927 (2,838) American Funds Group EuroPacific Growth Fund 1,681,109 -- American Funds Group EuroPacific Growth Fund 416,049 27,663 Fidelity Management Trust Company Fidelity Managed Income Portfolio 28,671 -- Fidelity Management Trust Company Fidelity Managed Income Portfolio 2,837,834 -- NationsBank of Texas N.A NationsBank Prime Portfolio Trust A Shares 12,729,814 --
(a) Purchase price includes transaction expenses. (b) Selling price is net of transaction expenses. (c) The Invesco Stable Value Fund and Core Laboratories N.V. Common Stock Fund are reported on a unitized basis. NOTE: This schedule includes each series of transactions involving the same assets which amounts to more than 5 percent of Plan assets as of January 1, 1998. 16 21 SCHEDULE IV CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN ITEM 27(e) - SCHEDULE OF NON-EXEMPT TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998
Description of Transaction Relationship of Plan, Including Maturity Date, Interest Identity of Employer or Other Rate of Interest, Amount Incurred Party Involved Party in Interest Collateral and Maturity Value Loaned On Loan - -------------- ----------------- ----------------------------- ---------- -------- Core Laboratories, Inc. Employer Lending of monies from the Plan to the Employer (contributions not timely remitted to the Plan) as follows: Deemed loan dated October 21, 1997, maturity of April 1, 1998, with interest at 6% per annum $ 119,372 $ 1,766*
* Interest in the amount of $1,766 was remitted to the Plan subsequent to December 31, 1998. 17 22 INDEX TO EXHIBITS
EXHIBIT NO. EXHIBITS - -------- -------- 23.1 Consent of Independent Public Accountants
EX-23.1 2 CONSENT OF ARTHUR ANDERSEN LLP 1 EXHIBIT 23.1 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference of our report dated June 23, 1999, included in this Form 11-K, into the previously filed registration statement of Core Laboratories, N.V., on Form S-8 (File No. 33-80473). ARTHUR ANDERSEN LLP Houston, Texas June 29, 1999 -----END PRIVACY-ENHANCED MESSAGE-----