-----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, NVtcAJEykjoAWTReqd2SyvRE4tk3Nwsk9JkdWTA/6mPuXiFJLaZPoDQ1BbIcr70c asYo4uqQcyBp8D7dMpvGWQ== 0000892569-99-002477.txt : 19990920 0000892569-99-002477.hdr.sgml : 19990920 ACCESSION NUMBER: 0000892569-99-002477 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BECKMAN COULTER INC CENTRAL INDEX KEY: 0000840467 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 951040600 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-10109 FILM NUMBER: 99713382 BUSINESS ADDRESS: STREET 1: 4300 N HARBOR BLVD STREET 2: PO BOX 3100 CITY: FULLERTON STATE: CA ZIP: 92834-3100 BUSINESS PHONE: 7148714848 MAIL ADDRESS: STREET 1: 4300 N HARBOR BLVD STREET 2: PO BOX 3100 CITY: FULLERTON STATE: CA ZIP: 92834-3100 FORMER COMPANY: FORMER CONFORMED NAME: BECKMAN INSTRUMENTS INC DATE OF NAME CHANGE: 19920703 11-K 1 FORM 11-K FOR THE FISCAL YEAR ENDED DEC. 31, 1998 1 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 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996]. 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 001-10109 -------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: BECKMAN COULTER, INC. SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: BECKMAN COULTER, INC. 4300 North Harbor Boulevard Fullerton, California 92835 2 DELOITTE & TOUCHE - ---------- BECKMAN COULTER, INC. SAVINGS PLAN Financial Statements for the Years Ended December 31, 1998 and 1997, Supplemental Schedules, and Independent Auditors' Report - ----------------- DELOITTE & TOUCHE TOHMATSU - ----------------- 3 BECKMAN COULTER, INC. SAVINGS PLAN TABLE OF CONTENTS - --------------------------------------------------------------------------------
PAGE INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statement of net assets available for benefits as of December 31, 1998 3 Statement of net assets available for benefits as of December 31, 1997 4 Statement of changes in net assets available for benefits for the year ended December 31, 1998 5 Statement of changes in net assets available for benefits for the year ended December 31, 1997 7 Notes to financial statements for the years ended December 31, 1998 and 1997 8 SUPPLEMENTAL SCHEDULES: Line 27a - Schedule of assets held for investment purposes as of December 31, 1998 16 Line 27d - Schedule of reportable series of transactions for the year ended December 31, 1998 18 Line 27d - Schedule of reportable single transactions for the year ended December 31, 1998 19
All other supplemental schedules are omitted because of the absence of conditions under which they are required. 4 DELOITTE & TOUCHE - ----------------- DELOITTE & TOUCHE LLP Telephone (714) 436-7100 Suite 1200 Facsimile: (714) 436-7200 695 Towne Center Drive Costa Mesa, California 92626-1924 INDEPENDENT AUDITORS' REPORT To the Corporate Benefits Committee of Beckman Coulter, Inc. Savings Plan: We have audited the accompanying financial statements of Beckman Coulter, Inc. Savings Plan (the Plan) as of December 31, 1998 and 1997, and for the years then ended, listed in the Table of Contents. 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 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, such financial statements 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 years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the Table of Contents are presented for the purpose 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 information by fund is also presented for the purpose of additional analysis of the basic financial statements rather than to present information regarding the net assets available for benefits and changes in net assets available for benefits of the individual funds, and is not a required part of the basic financial statements. These schedules and supplemental information by fund are the responsibility of the Plan's management. Such schedules and supplemental information by fund - ----------------- DELOITTE & TOUCHE TOHMATSU - ----------------- 5 have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. /s/ DELOITTE & TOUCHE LLP June 4, 1999 2 6 BECKMAN COULTER, INC. SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1998 - --------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ------------------------------------------------------------------------ BECKMAN BLUE CHIP COULTER INTEREST GROWTH INDEX INTERNATIONAL STOCK FUND INCOME FUND FUND FUND STOCK FUND ------------ ------------ ------------ ------------ ------------ ASSETS: Investments, at fair value (Note 4): Common stock of Plan sponsor $ 49,487,438 $ - $ - $ - $ - Mutual funds 225,296,077 58,063,725 9,760,586 Participant loans receivable Other investments Investment contracts, at contract value (Notes 3 and 4): Group contracts with insurance companies 72,736,157 Synthetic group insurance contracts 94,654,078 Bank investment contracts 10,027,444 ------------ ------------ ------------ ------------ ------------ Total investments 49,487,438 177,417,679 225,296,077 58,063,725 9,760,586 Cash and cash equivalents 13 8,917,292 5 Contributions receivable 13,757 523,112 718,538 30,289 25,216 ------------ ------------ ------------ ------------ ------------ Total assets 49,501,208 186,858,083 226,014,615 58,094,019 9,785,802 LIABILITIES ------------ ------------ ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 49,501,208 $186,858,083 $226,014,615 $ 58,094,019 $ 9,785,802 ============ ============ ============ ============ ============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ------------------------------------------------------------------------ MID-CAP PERSONAL PERSONAL PERSONAL GROWTH STRATEGY STRATEGY STRATEGY TRADELINK+ FUND BALANCED FUND GROWTH FUND INCOME FUND FUND ------------ ------------- ------------ ------------ ------------ ASSETS: Investments, at fair value (Note 4): Common stock of Plan sponsor $ - $ - $ - $ - $ - Mutual funds 25,034,153 77,014,857 6,736,634 5,611,856 Participant loans receivable Other investments 455,827 Investment contracts, at contract value (Notes 3 and 4): Group contracts with insurance companies Synthetic group insurance contracts Bank investment contracts ------------ ------------ ------------ ------------ ------------ Total investments 25,034,153 77,014,857 6,736,634 5,611,856 455,827 Cash and cash equivalents Contributions receivable 185,662 204,601 68,285 32,756 ------------ ------------ ------------ ------------ ------------ Total assets 25,219,815 77,219,458 6,804,919 5,644,612 455,827 LIABILITIES ------------ ------------ ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 25,219,815 $ 77,219,458 $ 6,804,919 $ 5,644,612 $ 455,827 ============ ============ ============ ============ ============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ------------------------------------------ PARTICIPANT PRIME RESERVE LOANS FUND TOTAL ------------ ------------- ------------ ASSETS: Investments, at fair value (Note 4): Common stock of Plan sponsor $ - $ - $ 49,487,438 Mutual funds 407,517,888 Participant loans receivable 18,877,822 18,877,822 Other investments 455,827 Investment contracts, at contract value (Notes 3 and 4): Group contracts with insurance companies 72,736,157 Synthetic group insurance contracts 94,654,078 Bank investment contracts 10,027,444 ------------ ------------ ------------ Total investments 18,877,822 653,756,654 Cash and cash equivalents 45,935 8,963,245 Contributions receivable 1,802,216 ------------ ------------ ------------ Total assets 18,877,822 45,935 664,522,115 LIABILITIES ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 18,877,822 $ 45,935 $664,522,115 ============ ============ ============
See accompanying notes to financial statements. 3 7 BECKMAN COULTER, INC. SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1997 - --------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ------------------------------------------------------------------------- BECKMAN BALANCED INTEREST EQUITY INDEX STOCK FUND FUND INCOME FUND FUND FUND ------------ ------------ ------------ ------------ ------------ ASSETS: Investments, at fair value (Note 4): Common stock of Plan sponsor $ 33,627,720 $ - $ - $ - $ - Mutual funds 36,390,285 84,597,289 36,031,751 Participant loans receivable Investment contracts, at contract value (Notes 3 and 4): Group contracts with insurance companies 25,546,866 Synthetic group insurance contracts 57,630,834 Bank investment contracts 10,027,444 ------------ ------------ ------------ ------------ ------------ Total investments 33,627,720 36,390,285 93,205,144 84,597,289 36,031,751 Cash and cash equivalents 66,350 1,636,529 2,754 Contributions receivable 5,501 4,370 11,856 10,030 10,119 Other receivables 3,691 20,263 ------------ ------------ ------------ ------------ ------------ Total assets 33,703,262 36,394,655 94,873,792 84,607,319 36,044,624 LIABILITIES - Amounts payable for investments 2,907 48,643 ------------ ------------ ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 33,703,262 $ 36,391,748 $ 94,873,792 $ 84,558,676 $ 36,044,624 ============ ============ ============ ============ ============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ------------------------------------------- INTERNATIONAL PARTICIPANT DISBURSEMENT EQUITY FUND LOANS FUND TOTAL ------------- ------------ ------------ ------------ ASSETS: Investments, at fair value (Note 4): Common stock of Plan sponsor $ - $ - $ - $ 33,627,720 Mutual funds 8,687,994 165,707,319 Participant loans receivable 5,098,884 5,098,884 Investment contracts, at contract value (Notes 3 and 4): Group contracts with insurance companies 25,546,866 Synthetic group insurance contracts 57,630,834 Bank investment contracts 10,027,444 ------------ ------------ ------------ ------------ Total investments 8,687,994 5,098,884 297,639,067 Cash and cash equivalents 45,896 134,674 1,886,203 Contributions receivable 3,319 45,195 Other receivables 22,969 1,267 48,190 ------------ ------------ ------------ ------------ Total assets 8,714,282 5,144,780 135,941 299,618,655 LIABILITIES - Amounts payable for investments 2,832 54,382 ------------ ------------ ------------ ------------ NET ASSETS AVAILABLE FOR BENEFITS $ 8,711,450 $ 5,144,780 $ 135,941 $299,564,273 ============ ============ ============ ============
See accompanying notes to financial statements. 4 8 BECKMAN COULTER, INC. SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1998 - --------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ---------------------------------------------------------------------------------- BECKMAN BLUE CHIP COULTER INTEREST EQUITY GROWTH INDEX STOCK FUND INCOME FUND FUND FUND FUND ------------- ------------- ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ 12,318,439 $ 167,276 $ (13,682,142) $ 48,995,992 $ 10,925,188 Interest 40,974 7,935,982 234,648 35,622 Dividends 527,014 584,563 3,599,481 1,033,856 ------------- ------------- ------------- ------------- ------------- Total investment income 12,886,427 8,103,258 (13,097,579) 52,830,121 11,994,666 Contributions: Beckman Coulter, Inc. 2,282,401 2,355,046 369,419 549,305 593,584 Retirement Plus (Employer) 22,910 457,566 1,349,429 15,642 Employees 1,931,575 3,977,901 4,279,734 3,012,907 4,173,650 ------------- ------------- ------------- ------------- ------------- Total contributions 4,236,886 6,790,513 4,649,153 4,911,641 4,782,876 Participant loan repayments 299,174 849,173 553,220 826,832 472,113 Transfers from Coulter Corp. 83,432,590 107,948,023 ------------- ------------- ------------- ------------- ------------- Net additions 17,422,487 99,175,534 (7,895,206) 166,516,617 17,249,655 Deductions from plan assets attributed to: Participant loan withdrawals (304,456) (816,186) (613,694) (505,515) (545,614) Distributions of benefits (2,179,479) (9,700,435) (4,573,076) (2,749,475) (3,441,958) Administrative expenses and other (1,584) (2,751) (2,914) (1,209) ------------- ------------- ------------- ------------- ------------- Net deductions (2,485,519) (10,519,372) (5,186,770) (3,257,904) (3,988,781) ------------- ------------- ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers 14,936,968 88,656,162 (13,081,976) 163,258,713 13,260,874 Net assets available for benefits, beginning of year 33,703,262 94,873,792 84,558,676 36,044,624 Net interfund transfers 860,978 3,328,129 (71,476,700) 62,755,902 8,788,521 ------------- ------------- ------------- ------------- ------------- Net assets available for benefits, end of year $ 49,501,208 $ 186,858,083 $ - $ 226,014,615 $ 58,094,019 ============= ============= ============= ============= =============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ----------------------------------------------- INTERNATIONAL MID-CAP EQUITY INTERNATIONAL GROWTH FUND STOCK FUND FUND ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ (1,212,707) $ 938,130 $ 5,905,249 Interest 2,832 10,830 41,372 Dividends 361,284 515,309 ------------- ------------- ------------- Total investment income (1,209,875) 1,310,244 6,461,930 Contributions: Beckman Coulter, Inc. 165,955 75,318 130,673 Retirement Plus (Employer) 44,848 352,511 Employees 921,465 367,262 572,958 ------------- ------------- ------------- Total contributions 1,087,420 487,428 1,056,142 Participant loan repayments 86,351 49,719 142,213 Transfers from Coulter Corp. 1,552,395 19,194,142 ------------- ------------- ------------- Net additions (36,104) 3,399,786 26,854,427 Deductions from plan assets attributed to: Participant loan withdrawals (93,456) (26,897) (46,282) Distributions of benefits (612,932) (236,830) (611,584) Administrative expenses and other (338) (908) ------------- ------------- ------------- Net deductions (706,388) (264,065) (658,774) ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers (742,492) 3,135,721 26,195,653 Net assets available for benefits, beginning of year 8,711,450 Net interfund transfers (7,968,958) 6,650,081 (975,838) ------------- ------------- ------------- Net assets available for benefits, end of year $ - $ 9,785,802 $ 25,219,815 ============= ============= =============
See accompanying notes to financial statements. 5 9 BECKMAN COULTER, INC. SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1998 (Continued) - --------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) --------------------------------------------------------------------------------- PERSONAL PERSONAL PERSONAL BALANCED STRATEGY STRATEGY STRATEGY TRADELINK+ FUND BALANCED FUND GROWTH FUND INCOME FUND FUND ------------- ------------- ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ (283,618) $ 6,051,759 $ 750,806 $ 330,600 $ 51,862 Interest 60,419 14,300 4,532 Dividends 1,089,736 3,321,808 268,519 130,957 ------------- ------------- ------------- ------------- ------------- Total investment income 806,118 9,433,986 1,033,625 466,089 51,862 Contributions: Beckman Coulter, Inc. 165,645 178,940 46,746 16,307 Retirement Plus (Employer) 379,246 128,768 59,133 Employees 1,925,744 1,162,380 216,905 92,128 ------------- ------------- ------------- ------------- ------------- Total contributions 2,091,389 1,720,566 392,419 167,568 Participant loan repayments 232,450 245,854 41,751 16,546 Transfers from Coulter Corp. 32,827,820 5,840,647 3,992,005 ------------- ------------- ------------- ------------- ------------- Net additions 3,129,957 44,228,226 7,308,442 4,642,208 51,862 Deductions from plan assets attributed to: Participant loan withdrawals (290,120) (164,330) (5,119) (8,149) Distributions of benefits (2,461,041) (754,189) (47,933) (9,436) Administrative expenses and other (847) (29) (53) ------------- ------------- ------------- ------------- ------------- Net deductions (2,751,161) (919,366) (53,081) (17,638) ------------- ------------- ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers 378,796 43,308,860 7,255,361 4,624,570 51,862 Net assets available for benefits, beginning of year 36,391,748 Net interfund transfers (36,770,544) 33,910,598 (450,442) 1,020,042 403,965 ------------- ------------- ------------- ------------- ------------- Net assets available for benefits, end of year $ - $ 77,219,458 $ 6,804,919 $ 5,644,612 $ 455,827 ============= ============= ============= ============= =============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ----------------------------------------------- PARTICIPANT DISBURSEMENT PRIME RESERVE LOANS FUND FUND TOTAL ------------- ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ (152,041) $ - $ 664 $ 71,105,457 Interest 343,923 22,791 8,748,225 Dividends 722 11,433,249 ------------- ------------- ------------- ------------- Total investment income 191,882 22,791 1,386 91,286,931 Contributions: Beckman Coulter, Inc. 2,248,369 9,177,708 Retirement Plus (Employer) 2,810,053 Employees 22,634,609 ------------- ------------- ------------- ------------- Total contributions 2,248,369 34,622,370 Participant loan repayments (3,815,396) Transfers from Coulter Corp. 13,982,633 268,770,255 ------------- ------------- ------------- ------------- Net additions 10,359,119 2,271,160 1,386 394,679,556 Deductions from plan assets attributed to: Participant loan withdrawals 3,419,818 Distributions of benefits (2,332,713) (29,711,081) Administrative expenses and other (10,633) ------------- ------------- ------------- ------------- Net deductions 3,419,818 (2,332,713) (29,721,714) ------------- ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers 13,778,937 (61,553) 1,386 364,957,842 Net assets available for benefits, beginning of year 5,144,780 135,941 299,564,273 Net interfund transfers (45,895) (74,388) 44,549 ------------- ------------- ------------- ------------- Net assets available for benefits, end of year $ 18,877,822 $ - $ 45,935 $ 664,522,115 ============= ============= ============= =============
See accompanying notes to financial statements. 6 10 BECKMAN COULTER, INC. SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1997 - --------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ---------------------------------------------------------------------------------- BECKMAN BALANCED INTEREST EQUITY INDEX STOCK FUND FUND INCOME FUND FUND FUND ------------- ------------- ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ 982,068 $ 2,879,199 $ 77,054 $ 13,161,298 $ 6,922,555 Interest 5,367 16,130 6,421,696 29,531 12,067 Dividends 471,973 1,370,158 1,324,591 499,966 ------------- ------------- ------------- ------------- ------------- Total investment income 1,459,408 4,265,487 6,498,750 14,515,420 7,434,588 Contributions: Beckman Instruments, Inc. 1,723,070 214,673 1,940,121 391,284 359,952 Employees 1,603,290 3,937,976 4,829,884 7,283,684 5,098,222 ------------- ------------- ------------- ------------- ------------- Total contributions 3,326,360 4,152,649 6,770,005 7,674,968 5,458,174 Participant loan repayments 152,046 360,541 537,801 731,695 320,243 ------------- ------------- ------------- ------------- ------------- Net additions 4,937,814 8,778,677 13,806,556 22,922,083 13,213,005 Deductions from plan assets attributed to: Participant loan withdrawals (204,856) (387,201) (573,948) (783,243) (305,119) Distributions of benefits (1,629,624) (2,170,252) (8,468,933) (3,652,179) (1,175,002) Administrative expenses and other (219) ------------- ------------- ------------- ------------- ------------- Net deductions (1,834,699) (2,557,453) (9,042,881) (4,435,422) (1,480,121) ------------- ------------- ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers 3,103,115 6,221,224 4,763,675 18,486,661 11,732,884 Net assets available for benefits, beginning of year 29,808,833 32,260,491 97,073,847 64,832,988 19,630,220 Net interfund transfers 791,314 (2,089,967) (6,963,730) 1,239,027 4,681,520 ------------- ------------- ------------- ------------- ------------- Net assets available for benefits, end of year $ 33,703,262 $ 36,391,748 $ 94,873,792 $ 84,558,676 $ 36,044,624 ============= ============= ============= ============= =============
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1) ---------------------------------------------------------------- INTERNATIONAL PARTICIPANT DISBURSEMENT EQUITY FUND LOANS FUND TOTAL ------------- ------------- ------------- ------------- Additions to plan assets attributed to: Net appreciation in fair value of investments $ 64,677 $ - $ 31,630 $ 24,118,481 Interest 1,802 388,827 6,875,420 Dividends 254,750 3,921,438 ------------- ------------- ------------- ------------- Total investment income 321,229 388,827 31,630 34,915,339 Contributions: Beckman Instruments, Inc. 212,426 4,841,526 Employees 2,522,963 25,276,019 ------------- ------------- ------------- ------------- Total contributions 2,735,389 30,117,545 Participant loan repayments 140,126 (2,242,452) ------------- ------------- ------------- ------------- Net additions 3,196,744 (1,853,625) 31,630 65,032,884 Deductions from plan assets attributed to: Participant loan withdrawals (68,870) 2,323,237 Distributions of benefits (310,364) (102,012) (1,147,162) (18,655,528) Administrative expenses and other (219) ------------- ------------- ------------- ------------- Net deductions (379,234) 2,221,225 (1,147,162) (18,655,747) ------------- ------------- ------------- ------------- Net increase (decrease) in net assets available for benefits prior to interfund transfers 2,817,510 367,600 (1,115,532) 46,377,137 Net assets available for benefits, beginning of year 4,553,363 4,754,356 273,038 253,187,136 Net interfund transfers 1,340,577 22,824 978,435 ------------- ------------- ------------- ------------- Net assets available for benefits, end of year $ 8,711,450 $ 5,144,780 $ 135,941 $ 299,564,273 ============= ============= ============= =============
See accompanying notes to financial statements. 7 11 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN The following description of Beckman Coulter, Inc. Savings Plan (the Plan) provides only general information. Participants should refer to the Plan agreement for a complete description of the Plan's provisions. General - Beckman Coulter, Inc. (the Company) established and adopted the Plan effective August 1, 1989. The Plan is a defined contribution plan covering substantially all Company employees who have completed a three-month period of employment within the Company. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). The Plan is administered by the Corporate Benefits Committee (the Committee), whose members are appointed by the Board of Directors of the Company. During October 1997, the Company acquired Coulter Corporation (Coulter) and formally changed its name to Beckman Coulter, Inc. during 1998. In connection with this acquisition, the name of the Beckman Stock Fund was changed to the Beckman Coulter Stock Fund during April 1998. On September 1, 1998, the Beckman Instruments Inc. Savings and Investment Plan was merged with the Coulter defined contribution plan. The Plan was amended and restated in its entirety as of that date, and assets under the Beckman Plan were transferred from Mellon Trust to T. Rowe Price. Under the restated Plan, the name of the Plan was changed to the Beckman Coulter, Inc. Savings Plan. The new plan was modified to include additional investment options, higher matching contributions related to the Beckman Coulter Stock Fund, and immediate vesting on the Company's contributions. In the September 1, 1998 transfer, Beckman net assets available for benefits of $301,905,269 were transferred from Mellon Trust to T. Rowe Price. Additionally, on September 1, 1998, net assets available for benefits of $268,770,255 in the Coulter Corp. Savings Plan were transferred to the Beckman Coulter, Inc. Savings Plan. Contributions - Participants may elect to contribute up to 15% of their eligible pay and up to 80% of their bonus in the form of pretax and/or after-tax withholdings. Each participant's pretax contributions in the calendar year may not exceed $10,000 and $9,500 in 1998 and 1997, respectively. Company-matching contributions to the Plan are allocated to participants based on a specified percentage of actual employee contributions. Forfeitures are applied to reduce the Company's contributions. In addition, employees of Coulter become a participant in Retirement Plus on the first day following completion of 12 months of service. Each quarter, the Company makes contributions to participants' Retirement Plus account. These contributions consist of a basic contribution which ranges from 3% to 8 12 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - -------------------------------------------------------------------------------- 9% of eligible pay for the quarter, and an excess contribution which ranges from zero to 4% of eligible pay that is above the Social Security taxable wage base for the year. Both ranges are based on the participant's age. Upon commencement of benefit payments, participants are subject to federal income tax on the receipt of participant pretax contributions, Company matching contributions, and earnings on all contributions. Investment Options - Participants have a choice of nine core investment funds for their contributions. Company contributions may be directed to any of the nine core investment funds. Participants have the right to elect investment options upon enrollment or re-enrollment into the Plan. Additionally, participants may elect to change their investment options and to transfer their account balances among the different investment funds on a daily basis. Income on investment funds is allocated to participants' accounts based on the participants' investment fund balance as a percentage of the total investment fund balance. The following description of each investment fund has been extracted from information contained in the respective fund's prospectus: Beckman Coulter Stock Fund - Funds are invested in Beckman Coulter, Inc. common stock. Interest Income Fund - Funds are invested in a portfolio of group annuity contracts issued by major insurance companies and investment contracts with banks. The fund is managed by Dwight Asset Management. Equity Fund - Funds were invested in a portfolio of common stocks to meet the objectives of long-term growth of capital and income. The fund was managed by The Vanguard Group, under the name Windsor Fund. Investments in the fund at September 1, 1998, were liquidated, and the cash was used to purchase shares in the Blue Chip Growth Fund. Blue Chip Growth Fund - Funds are invested in large and medium-sized companies that the fund manager believes are well established and have the potential for above-average growth. The fund is managed by T. Rowe Price. Index Fund - Funds are invested in all of the stocks included in the S&P 500 Index in approximately the same proportions as they are represented in the S&P 500 Index. The fund is managed by the Vanguard Group, under the name Vanguard Institutional Index Trust. 9 13 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - -------------------------------------------------------------------------------- International Equity Fund - Funds were invested in stocks and other equity-based forms of investment in companies operating principally outside the United States. The fund was managed by Templeton Franklin Investment Services under the name Templeton Funds Inc. Foreign Fund. Investments in the fund at September 1, 1998, were liquidated and the cash was used to purchase shares in the International Stock Fund. International Stock Fund - Funds are invested in stocks and other equity-based forms of investments in companies operating principally outside the United States. The fund is managed by T. Rowe Price. Mid-Cap Growth Fund - Fund seeks long-term growth. It invests in the common stocks of medium-sized companies. The fund is managed by T. Rowe Price. Balanced Fund - Funds were invested primarily in stocks, bonds, and cash. The stock portfolio consists of large, intermediate, and small companies. The bond portfolio consisted of U.S. Treasury, U.S. Agency, and corporate issued. The fund was managed by Brinson Partners, Inc., under the name of U.S. Balanced Fund. Investments in the fund at September 1, 1998, were liquidated, and the cash was used to purchase shares in the Personal Strategy Balanced Fund. Personal Strategy Balanced Fund - Fund seeks long-term capital appreciation and income by investing in stocks, bonds, and money market securities. The fund is managed by T. Rowe Price. Personal Strategy Growth Fund - Fund seeks long-term capital appreciation and, secondarily, income by investing in stocks, bonds, and money market securities. The fund is managed by T. Rowe Price. Personal Strategy Income Fund - Fund seeks to provide income and, secondarily, long-term capital appreciation by investing in stocks, bonds, and money market securities. The fund is managed by T. Rowe Price. Tradelink+ Fund - In addition to the investment funds listed above, employees may also transfer funds to Tradelink+. Tradelink+ offers discount brokerage services that participants can invest in individual stocks, bonds, mutual funds, and other securities. Participants may transfer a minimum of $2,500 to a maximum of 25% of overall Plan balance, less any outstanding loan amounts. Transfers to the fund can be performed at any time, but may not be made from funds which have come from Company matching contributions. Funds may be transferred out of the fund to any of the other nine funds at any time. The Disbursement Fund, which was managed by Mellon Trust, was used as a temporary placement account for in-transit funds which had not yet been accounted for in the core funds. The Prime Reserve Fund was established in 1998 by the new trustee, T. Rowe Price, and functions in a similar manner to that of the Disbursement Fund. 10 14 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - -------------------------------------------------------------------------------- Participant Loans - Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. Repayment is generally required within five years or up to 15 years for the purchase of a principal residence. The loans are secured by the balance in the participants' account and bear interest at prime rate plus 1%, determined at the beginning of each quarter (8.75% at December 31, 1998, for new loans). Participant Accounts - Each participant's account is credited with (a) the participant's contributions, (b) the Company's matching contribution, and (c) Plan earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested balance. Benefits and Vesting - Participants become entitled to payment of the total vested value of their accounts at the time of termination, retirement, permanent layoff, permanent disability, or death. If total vested value is greater than $5,000, the participants may elect to postpone their distribution until the year following the year they attain age 70 1/2. Participants' interests in the Company's contributions, income, gains, and losses on investments become fully vested immediately upon enrolling in the Plan, except for Retirement Plus contributions, which vest after five years of employment. Participants also become fully vested in Retirement Plus upon reaching normal retirement age, death, or permanent disability. Participants immediately vest in the value of their own contributions. Benefits Payable - At December 31, 1998 and 1997, the amounts of benefits payable to participants who have withdrawn from participation in the Plan were $249,720 and $1,964,147, respectively. Such amounts are not considered liabilities for financial reporting purposes, and accordingly, the balances are not included in the deductions from Plan assets attributed to distribution of benefits for the years ended December 31, 1998 and 1997. Continuation of the Plan - The Company anticipates and believes the Plan will continue without interruption but reserves the right to discontinue the Plan. If the Plan is terminated by the Company, the accounts of all affected participants become 100% vested and nonforfeitable without regard to the years of service of participants. Risks and Uncertainties - The Plan provides for various investment options in any combination of equity, fixed-income, and other investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits. 11 15 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - -------------------------------------------------------------------------------- 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting - The accompanying financial statements have been prepared on the accrual basis of accounting. Investment Valuation - Investments are stated at fair value except for guaranteed investment contracts which are stated at contract value (Note 3). The fair value of the common stock is based on quotations obtained from national securities exchanges on the last business day of the Plan year. The fair values of the mutual funds and commingled funds are based on the net asset value reported by the funds. The purchases and sales of securities are recorded as of the date of trade. The average cost method is used in determining gains and losses on the sales of securities. Administrative Expenses - Principally all of the Plan's administrative expenses are paid by the Company. The Company has elected to pay these administrative expenses on behalf of the Plan but reserves the right to change this election. Such expenses amounted to approximately $581,000 and $438,000 for the years ended December 31, 1998 and 1997, respectively. Use of Estimates - The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents - The Plan considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Reclassifications - Certain reclassifications have been made to the 1997 financial statements to conform to the 1998 financial statement presentation. 3. VALUATION OF INVESTMENT CONTRACTS The Plan's investment contracts are fully benefit-responsive and have an estimated fair value that equals their contract value of $177,417,679 and $93,205,144 at December 31, 1998 and 1997, respectively. The Plan's investment contracts earn interest at rates ranging from 5.36% to 8.99% at December 31, 1998 and 6.25% to 8.00% at December 31, 1997. 12 16 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - -------------------------------------------------------------------------------- 4. ASSETS HELD FOR INVESTMENT Information regarding assets held for investment as of December 31, 1998 and 1997, is as follows:
1998 1997 -------------------------------- -------------------------------- FAIR/CONTRACT FAIR/CONTRACT COST VALUE COST VALUE Common stock - Beckman Coulter, Inc. $ 50,424,255 $ 49,487,438 $ 33,194,649 $ 33,627,720 Mutual funds: Blue Chip Growth Fund 208,734,410 225,296,077 75,638,657 84,597,289 Vanguard Institutional Index Fund 47,014,171 58,063,725 28,636,846 36,031,751 International Stock Fund 9,051,857 9,760,586 9,099,430 8,687,994 Mid-Cap Growth Fund 24,944,535 25,034,153 Personal Strategy - Balanced Fund 74,183,987 77,014,857 35,962,276 36,390,285 Personal Strategy - Growth Fund 6,734,299 6,736,634 Personal Strategy - Income Fund 5,607,647 5,611,856 ------------ ------------ ------------ ------------ Total mutual funds 376,270,906 407,517,888 149,337,209 165,707,319 Other investments: Tradelink+ Fund 455,827 455,827 Participant loans receivable 18,877,822 18,877,822 5,098,884 5,098,884
13 17 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - --------------------------------------------------------------------------------
1998 1997 ------------------------------ ------------------------------ FAIR/CONTRACT FAIR/CONTRACT COST VALUE COST VALUE Interest Income Fund: Group insurance contracts: Aetna - GIC 14363 $13,807,654 $13,807,654 $ -- $ -- GE Life & Annuity - GS 10,144,583 10,144,583 Hartford - GA 9523C 7,811,960 7,811,960 John Hancock GAC 7543 9,608,397 9,608,397 GIC 8818 5,547,791 5,547,791 5,210,172 5,210,172 Metropolitan Life Plan - 13014 10,728,297 10,728,297 New York Life - GA 30050 13,473,312 13,473,312 Prudential - 8089-211 21,950,857 21,950,857 ----------- ----------- ----------- ----------- 72,736,157 72,736,157 25,546,866 25,546,866 Synthetic Group Insurance Contracts: Citibank Contract #1 9,487,302 9,487,302 Credit Suisse Financial 5,729,809 5,729,809 Credit Suisse 77441-01 GIC 15,338,583 15,338,583 9,947,876 9,947,876 Monumental - BDA 00039TR 8,354,864 8,354,864 People's Security Life: GIC - BDA00039TR-5 3,783,533 3,783,533 FGIC Policy 92010300, Contract 2983 4,967,595 4,967,595 Contract #BDA00039TR-4 2,374,710 2,374,710 State Street Synthetic - Contract 97077 30,636,507 30,636,507 5,669,087 5,669,087 Transamerica: Contract #7660 8,030,155 8,030,155 Contract #76850 35,235,916 35,235,916 UBS Agreement - Contract 2077 5,088,208 5,088,208 7,640,767 7,640,767 ----------- ----------- ----------- ----------- 94,654,078 94,654,078 57,630,834 57,630,834
14 18 BECKMAN COULTER, INC. SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED) - --------------------------------------------------------------------------------
1998 1997 --------------------------------- --------------------------------- FAIR/CONTRACT FAIR/CONTRACT COST VALUE COST VALUE Bank investment contracts: Lehman GIC #101121895G $ 10,027,444 $ 10,027,444 $ 10,027,444 $ 10,027,444 ------------ ------------ ------------ ------------ Total interest income fund 177,417,679 177,417,679 93,205,144 93,205,144 ------------ ------------ ------------ ------------ Total assets held for investments $623,446,489 $653,756,654 $280,835,886 $297,639,067 ============ ============ ============ ============
The Plan investments which exceed 5% of net assets available for benefits as of December 31, 1998 and 1997, are as follows:
DESCRIPTION OF INVESTMENT 1998 1997 Common stock of Plan sponsor $ 49,487,438 $ 33,627,720 Mutual funds 407,517,888 165,707,319 Group contracts with insurance companies 72,736,157 25,546,866 Synthetic GICs 94,654,078 57,630,834
5. TAX STATUS The Plan is intended to be qualified under Section 401(a) of the Internal Revenue Code of 1986 (the Code) and is intended to be exempt from taxation under Section 501(a) of the Code. The Plan received a favorable Internal Revenue Service determination letter dated October 1, 1990. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's tax counsel believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Code and the related trust was tax-exempt as of the financial statement date. Therefore, no provision of income taxes has been included in the Plan's financial statements. 15 19 SUPPLEMENTAL SCHEDULES 20 BECKMAN COULTER, INC. SAVINGS PLAN LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1998 - --------------------------------------------------------------------------------
SHARES CURRENT DESCRIPTION OF INVESTMENT OR UNITS COST VALUE COMMON STOCK - Beckman Coulter, Inc. 912,211 $ 50,424,255 $ 49,487,438 BLUE CHIP GROWTH FUND T. Rowe Price Blue Chip Growth Fund 7,362,617 208,734,410 225,296,077 INDEX FUND Vanguard Institutional Index Fund 514,521 47,014,171 58,063,725 INTERNATIONAL STOCK FUND T. Rowe Price International Stock Fund 651,140 9,051,857 9,760,586 MID-CAP GROWTH FUND T. Rowe Price Mid-Cap Growth Fund 734,570 24,944,535 25,034,153 PERSONAL STRATEGY - BALANCED FUND T. Rowe Price Personal Strategy Balanced Fund 4,843,702 74,183,987 77,014,857 PERSONAL STRATEGY - GROWTH FUND T. Rowe Price Personal Strategy Growth Fund 368,122 6,734,299 6,736,634 PERSONAL STRATEGY - INCOME FUND T. Rowe Price Personal Strategy Income Fund 422,898 5,607,647 5,611,856 OTHER INVESTMENTS Tradelink + Fund 455,827 455,827 455,827
16 21 BECKMAN COULTER, INC. SAVINGS PLAN LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1998 (CONTINUED) - --------------------------------------------------------------------------------
INTEREST MATURITY CURRENT DESCRIPTION OF INVESTMENT RATE DATE COST VALUE INTEREST INCOME FUND - Group insurance contracts: Aetna - GIC 14363 6.500% 11/17/00 $ 13,807,654 $ 13,807,654 GE Life & Annuity - GS 3175 5.550% 7/1/01 3,381,528 3,381,528 5.550% 7/1/02 1,690,763 1,690,763 5.550% 7/1/03 5,072,292 5,072,292 Hartford - GA 9523C 6.400% 9/30/99 7,811,960 7,811,960 John Hancock - GIC 8818 6.480% 6/15/00 5,547,791 5,547,791 New York Life - GA 30050 8.990% 9/30/99 13,473,312 13,473,312 Prudential - 8089-211 6.380% 9/30/99 21,950,857 21,950,857 ------------ ------------ Total group insurance contracts 72,736,157 72,736,157 Synthetic group insurance contracts: Credit Suisse 77441-01 GIC 7.320% Evergreen 15,338,583 15,338,583 Monumental - BDA 00039TR 5.358% Buy & Hold 8,354,864 8,354,864 State Street Synthetic - Contract 97077 6.420% Evergreen 30,636,507 30,636,507 Transamerica Life #76850 5.790% Evergreen 35,235,916 35,235,916 UBS Agreement - Contract 2077 6.500% Evergreen 5,088,208 5,088,208 ------------ ------------ Total synthetic group insurance contracts 94,654,078 94,654,078 Bank investment contracts - Lehman GIC #101121895G 6.305% 12/17/01 10,027,444 10,027,444 ------------ ------------ Total bank investment contracts 10,027,444 10,027,444 Participant loans receivable (interest ranging from 8.25% to 9.25%) 18,877,822 18,877,822 ------------ ------------ Total investments $623,446,489 $653,756,654 ============ ============
17 22 BECKMAN COULTER, INC. SAVINGS PLAN LINE 27d - SCHEDULE OF REPORTABLE SERIES OF TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998 - --------------------------------------------------------------------------------
NO. OF IDENTITY OF PURCHASE COST OF NET GAIN TRANSACTIONS PARTY INVOLVED DESCRIPTION OF ASSET PRICE SELLING PRICE ASSET (LOSS) 266 Beckman Coulter, Inc. Common Stock Fund $ 12,457,649 $ - $ 12,457,649 $ - 196 Beckman Coulter, Inc. Common Stock Fund 8,646,135 5,560,649 3,085,486 66 Brinson Balanced Fund 3,948,292 3,948,292 100 Brinson Balanced Fund 40,052,052 39,907,662 144,390 74 Templeton International Equity Fund 4,760,020 83 Templeton International Equity Fund 12,258,275 13,883,507 (1,625,232) 57 Vanguard Equity Fund 5,147,994 104 Vanguard Equity Fund 76,063,140 80,786,652 (4,723,512) 192 Vanguard Index Fund 19,731,571 90 Vanguard Index Fund 8,691,753 6,988,467 1,703,286 211 Mellon Bank N.A. TBC Inc. Pooled Employee 44,057,059 193 Mellon Bank N.A. TBC Inc. Pooled Employee 45,894,308 45,894,308 19 State Street Synthetic GIC 31,021,427 17 State Street Synthetic GIC 6,053,535 6,053,535 20 Transamerica Synthetic GIC 38,020,140 15 Transamerica Synthetic GIC 10,783,684 10,783,684
18 23 BECKMAN INSTRUMENTS, INC. SAVINGS AND INVESTMENT PLAN LINE 27d - SCHEDULE OF REPORTABLE SINGLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998 - --------------------------------------------------------------------------------
CURRENT VALUE OF IDENTITY OF DESCRIPTION ASSET OF NO. OF PARTY OF PURCHASE SELLING COST OF TRANSACTION TRANSACTIONS INVOLVED ASSET PRICE PRICE ASSET DATE NET LOSS 1 Brinson Balanced Fund $ - $ 35,235,261 $ 35,299,025 $ 35,235,261 $ (63,764) 1 Vanguard Equity Fund 66,353,560 72,358,087 66,353,560 (6,004,527) 1 T. Rowe Price Personal Strategy - 35,235,261 35,235,261 35,235,261 Balanced Fund 1 T. Rowe Price Blue Chip 66,353,560 66,353,560 66,353,560
19 24 SIGNATURES The Plan. Pursuant to the requirements of the Securities and Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed by the undersigned hereunto duly authorized. BECKMAN COULTER, INC. SAVINGS PLAN By: Beckman Coulter, Inc. Benefits Committee Date: September 13, 1999 By: /s/ FIDENCIO M. MARES Fidencio M. Mares Its: Committee Chairman Vice President - Human Resources 25 INDEX TO EXHIBITS Exhibit Number Description - ------- ----------- 23.1 Consent of Deloitte & Touche LLP EX-23.1 2 CONSENT OF INDEPENDENT AUDITORS' 1 EXHIBIT 23.1 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Registration Statement (No. 333-72081) of Beckman Coulter, Inc. on Form S-8 of our report dated June 4, 1999, appearing in the Annual Report on form 11-K of Beckman Coulter, Inc. Savings Plan for the year ended December 31, 1998. /s/ DELOITTE & TOUCHE LLP Deloitte & Touche LLP Costa Mesa, California September 13, 1999 -----END PRIVACY-ENHANCED MESSAGE-----