11-K 1 d11k.htm FORM 11-K FOR BECKMAN COULTER, INC Form 11-K for Beckman Coulter, Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

ANNUAL REPORT

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT

(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, 2007

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

 

 

 


BECKMAN COULTER, INC. SAVINGS PLAN

Financial Statements and Supplemental Schedule

December 31, 2007 and 2006


BECKMAN COULTER, INC. SAVINGS PLAN

Table of Contents

 

     Page

Reports of Independent Registered Public Accounting Firms

   1

Statements of Net Assets Available for Benefits – December 31, 2007 and 2006

   3

Statement of Changes in Net Assets Available for Benefits – Year ended December 31, 2007

   4

Notes to Financial Statements

   5 – 11

Supplemental Schedule

  

Schedule H, Line 4i – Schedule of Assets (Held at End of Year) – December 31, 2007

   12

All other supplemental schedules omitted are not applicable or are not required based on disclosure requirements of the Employee Retirement Income Security Act of 1974 and regulations issued by the Department of Labor.


Report of Independent Registered Public Accounting Firm

Beckman Coulter, Inc.

Benefits Finance and Administration Committee

Fullerton, California

We have audited the accompanying statement of net assets available for benefits of the Beckman Coulter, Inc. Savings Plan (“the Plan”) as of December 31, 2007, and the related statement of changes in net assets available for benefits for the year then ended. 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 audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. 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 audit provides 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, 2007, and the changes in net assets available for benefits for the year then ended in conformity with U.S. generally accepted accounting principles.

Our audit was conducted for the purpose of expressing an opinion on the basic 2007 financial statements taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic 2007 financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic 2007 financial statements taken as a whole.

                                    /s/ Crowe Chizek and Company LLP

Oak Brook, Illinois

June 30, 2008


Report of Independent Registered Public Accounting Firm

The Benefits Finance and Administration Committee

Beckman Coulter, Inc. Savings Plan:

We have audited the accompanying statement of net assets available for benefits of the Beckman Coulter, Inc. Savings Plan (the Plan) as of December 31, 2006. This financial statement is the responsibility of the Plan’s management. Our responsibility is to express an opinion on this financial statement based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statement referred to above presents fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2006 in conformity with U.S. generally accepted accounting principles.

/s/ KPMG LLP

Costa Mesa, California

June 25, 2007

 

2


BECKMAN COULTER, INC. SAVINGS PLAN

Statements of Net Assets Available for Benefits

December 31, 2007 and 2006

 

     2007     2006

Investments – at fair value

   $ 1,121,690,182     $ 1,025,708,390

Cash and cash equivalents

     6,285,083       7,484,962

Receivables:

    

Employer contribution

     6,090,841       6,476,701

Employee contribution

     —         1,472,462
              

Net assets reflecting all investments at fair value

     1,134,066,106       1,041,142,515

Adjustment from fair value to contract value for fully benefit-responsive investment contracts

     (469,172 )     942,716
              

Net assets available for benefits

   $ 1,133,596,934     $ 1,042,085,231
              

See accompanying notes to financial statements.

 

3


BECKMAN COULTER, INC. SAVINGS PLAN

Statement of Changes in Net Assets Available for Benefits

Year ended December 31, 2007

 

Additions to net assets attributed to:

  

Net appreciation in fair value of investments

   $ 64,060,011

Interest

     13,671,999

Dividends

     33,837,535
      

Total investment income

     111,569,545

Contributions:

  

Company matching (employer)

     13,740,465

Retirement plus (employer)

     6,090,841

Employee

     47,837,325
      

Total contributions

     67,668,631
      

Total additions

     179,238,176

Deductions from net assets attributed to:

  

Distributions of benefits

     87,641,606

Refund of excess contributions

     13,207

Administrative expenses and other

     71,660
      

Total deductions

     87,726,473
      

Increase in net assets

     91,511,703

Net assets available for benefits – beginning of year

     1,042,085,231
      

Net assets available for benefits – end of year

   $ 1,133,596,934
      

See accompanying notes to financial statements.

 

4


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

(1) Description of Plan

The following description of the Beckman Coulter, Inc. Savings Plan (the Plan) provides only general information. Participants should refer to the Plan document for a complete description of the Plan’s provisions.

 

  (a) 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 with 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 Benefits Finance and Administration Committee (the Committee), whose members are appointed by the board of directors of the Company.

 

  (b) Contributions

Participants may elect to contribute up to 45% of their eligible pay in combination of pretax and after-tax withholdings. Each participant’s pretax contributions in the calendar year may not exceed $15,500 in 2007. Additionally, participants age 50 or older may contribute up to $5,000 in 2007, as a catch-up contribution.

The Company matches 50% of participants’ contributions, up to 7% of participants’ total compensation. Forfeitures are applied to reduce the Company’s contributions.

Retirement Plus was added in 1996 for the benefit of employees of Coulter Corporation, which was acquired by the Company in 1997. Employees of Coulter Corporation as of the acquisition date of October 31, 1997, and hired through April 30, 2000, participate (or are eligible for participation) upon completing one year of service. Also, employees in Puerto Rico who are hired on or after January 1, 2007, participate in Retirement Plus on the January 1 following their date of hire. Annually, the Company makes contributions to participants’ Retirement Plus accounts. These contributions consist of a basic contribution which ranges from 3% to 9% of eligible pay for the year and an excess contribution which ranges from 0% 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 contributions, and earnings on all contributions.

 

  (c) Investment Options

Participants have a choice of various core investment funds for their contributions. Participants may transfer their account balances among the different investment funds. Participants may also transfer up to a maximum of 50% of their overall plan balance, less any outstanding loan amounts, to the Tradelink+ account which is a self-directed brokerage account that offers discount brokerage services for securities not offered under the Plan. The self-directed brokerage account invests in various common stocks and mutual funds.

 

   5   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

Company contributions may be directed to any of the core investment funds. Participants have the right to elect investment options upon enrollment or reenrollment 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.

 

  (d) 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 vested account balance. Repayment is generally required within 5 years or up to 15 years for the purchase of a principal residence. The loans are secured by the balance in the participant’s account and bear interest at prime rate plus 1%. Principal and interest are paid ratably through payroll deductions.

 

  (e) Participant Accounts

Each participant’s account is credited with: (a) the participant’s contributions, (b) the Company’s contributions, 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.

 

  (f) 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 $1,000, 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 are fully vested if hired before 2007, except for Retirement Plus contributions, which vest after five years of employment. Participants hired in 2007 or after become 100% vested in the Company’s contributions after the earlier completion of 3 years of service, layoff, retirement, death, or age 65. 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.

 

  (g) Forfeitures

All forfeitures of benefits reduce total cash contributions made by the Plan sponsor. As of December 31, 2007 and 2006, forfeited nonvested accounts totaled $55,287 and $26,456, respectively. These amounts will be used to reduce future employer contributions.

 

  (h) Benefits Payable

At December 31, 2007 and 2006, the amounts of benefits payable to participants who have elected to withdraw from participation in the Plan but were not yet paid were $0 and $20,139, 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, 2007 and 2006.

 

   6   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

  (i) 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.

 

(2) Summary of Significant Accounting Policies

 

  (a) Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

 

  (b) Investment Valuation

The fair value of common stock and mutual funds is based on quotations obtained from national securities exchanges on the last business day of the Plan year. The Interest Income Fund is presented at fair value, with an adjustment to contract value (see Note 3) on the Statements of Net Assets Available for Benefits. The fair value of common collective funds is based on the net asset value reported by the issuer of the fund, based on fair values of the underlying securities. Participant loans are valued at their outstanding balances which approximate fair values.

Purchases and sales of securities are recorded on a trade-date basis. The average-cost method is used in determining gains and losses on the sales of securities. Dividends are recorded on the ex-dividend date.

 

  (c) Administrative Expenses

Substantially 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 $81,618 for the year ended December 31, 2007.

 

  (d) 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.

 

  (e) Risks, Concentrations, 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.

 

   7   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

The Plan allows participants to invest in the common stock of the Plan Sponsor, Beckman Coulter, Inc. The Plan’s investment in the common stock of the Plan Sponsor was 11.6% and 11.5% of plan net assets as of December 31, 2007 and 2006, respectively.

 

  (f) Reclassification

Certain accounts in the prior year financial statements have been reclassified for comparative purposes to conform to the presentation in the current year financial statements.

 

  (g) Effect of Newly Issued but not yet Effective Accounting Standards

In September 2006, the FASB issued Statement No. 157, Fair Value Measurements. The Statement defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. This Statement establishes a fair value hierarchy about the assumptions used to measure fair value and clarifies assumptions about risk and the effect of a restriction on the sale or use of an asset. The standard is effective for fiscal years beginning after November 15, 2007.

In February 2008, the FASB issued Staff Position (FSP) 157-2, Effective Date of FASB Statement No. 157. This FSP delays the effective date of FAS 157 for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or disclosed at fair value on a recurring basis (at least annually) to fiscal years beginning after November 15, 2008, and interim periods within those fiscal years. The impact of adoption of FASB Statement No. 157 on the Plan’s net assets available for benefits and changes in net assets available for benefit is not anticipated to be material.

In February 2007, the FASB issued Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities. The standard provides reporting entities with an option to report selected financial assets and liabilities at fair value and establishes presentation and disclosure requirements designed to facilitate comparisons between reporting entities that choose different measurement attributes for similar types of assets and liabilities. The new standard is effective for the Plan on January 1, 2008. The Plan did not elect the fair value option for any financial assets or financial liabilities as of January 1, 2008.

 

  (h) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures, and actual results could differ from those estimates.

 

(3) Interest Income Fund – Fully Benefit Responsive Investments

The Interest Income Fund includes investments in benefit responsive guaranteed investment contracts (GICs), collective investment trusts, and synthetic GICs. This fund is an investment pool that is managed solely for participants of the Plan, and the Plan holds all of the underlying investments of the Interest Income Fund. The synthetic GICs in this fund are comprised of common collective funds, cash equivalents, bonds, and wrapper contracts. The fair value of the Interest Income Fund is based on the fair value of the underlying investments. The fair value of common collective funds is based on the net asset value reported by the issuer of the fund, based on fair values of the underlying securities. Cash equivalents are valued at cost, which approximates fair value. Fair values of bonds and U.S. government and agency securities are based on quoted market prices. The wrapper contracts are valued based on re-bid rates for similar contracts. This fund’s common collective trusts, GICs, and synthetic investment contracts are valued at contract value (which represents contributions made under the contract plus earnings, less withdrawals and administrative expenses) because they are fully benefit-responsive. For example, participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.

 

   8   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

Withdrawals resulting from events initiated by the Company, such as Plan or contract termination, are not typically considered participant-initiated transactions. With such an event, some of the contracts contain contingencies that could lead to withdrawal penalties. Certain events that would allow the contract issuers to terminate the contracts and result in the execution of participant transactions at other than contract value include loss of the Plan’s qualified status, plan merger or spin-off, bankruptcy of the Plan sponsor, or closing of units of the Company. However, since no such events are being contemplated at this time and management is not aware of any events that would cause the Plan to transact at less than contract value, these “potential” limitations are determined not to be probable and do not jeopardize the contract value reporting for these investments.

GICs provide a fixed crediting interest rate, and a financially responsible entity guarantees liquidity at contract value prior to maturity for any and all participant-initiated benefit withdrawals, loans, or transfers arising under the terms of the Plan, which allows access for all participants.

Synthetic GICs operate similarly to a guaranteed investment contract, except that the assets are placed in a trust with ownership by the Plan rather than a general account of the issuer and a financially responsible third party issues a wrapper contract that provides that participants can, and must, execute Plan transactions at contract value.

During 2007 and 2006, the average yield earned on amounts invested in the fully-benefit responsive GICs and synthetic investment contracts was 5.38% and 5.67%, respectively. As of December 31, 2007 and 2006, the average yield based upon the crediting interest rates to participants on such contracts was 5.11% and 5.67%, respectively. There were no valuation reserves recorded to adjust contract amounts. The crediting rates of the contracts are based on an agreed-upon formula with the issuer but can not be less than zero. Rates are reviewed on a quarterly basis for resetting. Crediting rate resets are applied to specific investment contracts, as determined at the time of purchase. The reset values for security-backed investment rates are a function of contract value, market value, yield, and duration.

 

   9   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

(4) Investments

The fair values of individual investments which represent 5% or more of the Plan’s net assets at December 31, 2007 are as follows:

 

Common stock:

  

Beckman Coulter, Inc.

   $ 130,955,815

Mutual funds:

  

Blue Chip Growth Fund

     180,173,213

Fidelity Diversified Fund

     62,020,899

Mid-Cap Growth Fund

     91,180,339

Vanguard Institutional Index Fund

     74,582,100

Interest Income Fund:

  

Common collective funds:

  

Dwight Target 2 Fund (contract value $133,178,067)

     133,677,540

Dwight Target 5 Fund (contract value $83,328,114)

     83,640,629

The fair values of individual investments which represent 5% or more of the Plan’s net assets at December 31, 2006, are as follows:

 

Common stock:

  

Beckman Coulter, Inc.

   $ 120,297,368

Mutual funds:

  

Blue Chip Growth Fund

     174,875,467

Mid-Cap Growth Fund

     80,229,444

Vanguard Institutional Index Fund

     76,828,333

Interest income fund:

  

Synthetic guaranteed investment contracts:

  

IXIS Financial - Contract FP1062-01

     75,406,154

State Street Synthetic - Contract 97077

     71,353,589

Transamerica Life - Contract 76850

     72,482,609

The net appreciation of the Plan’s investments by investment type for the year ended December 31, 2007 is as follows:

 

Common and preferred stock

   $ 25,623,526

Mutual funds

     38,099,082

Other investments

     337,403
      
   $ 64,060,011
      

 

   10   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Notes to Financial Statements

December 31, 2007 and 2006

 

(5) Tax Status

The Internal Revenue Service has determined and informed the Company by letter, dated August 28, 2002, that the Plan and related trust are designed in accordance with the applicable sections of the Internal Revenue Code (IRC). Although the Plan has been amended since receiving the determination letter, the Plan Administrator believes that the Plan is designed and currently being operated in compliance with applicable requirements of the IRC.

 

(6) Party-in-Interest Transactions

Certain Plan investments are shares of mutual funds managed by T. Rowe Price Trust Company. T. Rowe Price Trust Company is the trustee as defined by the Plan, and therefore, these transactions qualify as party-in-interest transactions. The Plan also allows loans to plan participants, which qualify as party-in-interest transactions. The Plan also paid administrative fees to T. Rowe Price during 2007 which qualify as party-in-interest transactions.

The Plan also held 1,798,844 and 2,011,662 shares of Company common stock as of December 31, 2007 and 2006, respectively. The Plan received dividends of $1,171,141 on Company common stock during 2007.

 

(7) Form 5500 Reconciliation

Following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2007 and 2006 to net assets per the Form 5500:

 

     2007    2006  

Net assets available for benefits per the financial statements

   $ 1,133,596,934    $ 1,042,085,231  

Adjustment from fair value to contract value for fully benefit responsive investment contracts

     469,172      (942,716 )
               

Net assets per the Form 5500

   $ 1,134,066,106    $ 1,041,142,515  
               

Following is a reconciliation of the increase in net assets available for benefits per the financial statements for the year ended December 31, 2007, to net income per the Form 5500:

 

Increase in net assets available for benefits per the financial statements

   $ 91,511,703

Adjustment from fair value to contract value for fully benefit responsive investment contracts at December 31, 2006

     942,716

Adjustment from fair value to contract value for fully benefit responsive investment contracts at December 31, 2007

     469,172
      

Net income per the Form 5500

   $ 92,923,591
      

 

   11   (Continued)


BECKMAN COULTER, INC. SAVINGS PLAN

Schedule H, Line 4i –

Schedule of Assets (Held at End of Year)

December 31, 2007

Name of plan sponsor: Beckman Coulter, Inc.

Employer identification number: 95-1040600

Three-digit plan number: 011

 

 

(a)

 

(b)

Identity of issuer

  

(c)

Description of investment

  

(d)

Cost**

  

(e)

Current

value

Common stock:

        

*

  Beckman Coulter, Inc.    Common stock       $ 130,955,815

Mutual funds:

        

*

  T. Rowe Price    Blue Chip Growth Fund         180,173,213

*

  T. Rowe Price    Equity Income Fund         17,646,116
  Fidelity    Diversified International Fund         62,020,899
  Vanguard    Institutional Index Fund         74,582,100

*

  T. Rowe Price    Mid-Cap Growth Fund         91,180,339
  Neuberger Berman    Genesis Fund         46,041,938

*

  T. Rowe Price    Retirement 2005 Fund         13,417,525

*

  T. Rowe Price    Retirement 2010 Fund         42,238,568

*

  T. Rowe Price    Retirement 2015 Fund         42,210,010

*

  T. Rowe Price    Retirement 2020 Fund         55,568,713

*

  T. Rowe Price    Retirement 2025 Fund         33,725,098

*

  T. Rowe Price    Retirement 2030 Fund         21,368,159

*

  T. Rowe Price    Retirement 2035 Fund         9,397,927

*

  T. Rowe Price    Retirement 2040 Fund         8,906,305

*

  T. Rowe Price    Retirement 2045 Fund         1,961,740

*

  T. Rowe Price    Retirement 2050 Fund         110,460

*

  T. Rowe Price    Retirement 2055 Fund         158,264

*

  T. Rowe Price    Retirement Income Fund         7,014,460
  Goldman Sachs    Structured Small Capital Equity Fund         1,601,850
              
        Total mutual funds      709,323,684

Common collective trust:

        
  Russell Investments    Fixed Income I Fund         6,037,967

Interest Income Fund (stable value fund):

     
  Wrapper contracts:         

NATIXIS Financial

   Wrapper contract FP1062-01         —  

State Street

   Wrapper contract 97077         —  

Transamerica Life

   Wrapper contract 76850         —  
  Corporate Bonds:         

Residential Fund Mortgage Security

   Due 2/25/2025, 8.29%         1,024,933

First Union NB-Bank of America

   Due 3/15/2033, 6.136%         6,400,381

America West Airlines

   Due 1/2/2019, 7.93%         3,584,886

Oil Enterprises LTD

   Due 6/30/08, 6.239%         370,486
  Government and government agency bonds:         

FHLMC

   Due 9/25/2028, adjustable rate         1,366,579

FNMA

   Due 5/1/2014, 6%         362,339

FNMA

   Due 6/1/2008, 7.5%         4,556

FNMA

   Due 4/1/2014, 6%         656,404

FNMA

   Due 5/1/2014, 6%         107,098

FNMA

   Due 4/1/2030, 8.5%         106,232

GNMA

   Due 9/1/2030, 8.5%         43,590
  Cash equivalents            7,089,103
  Collective investment trusts:         
 

Dwight Asset Management Company

   Dwight Target 2 Fund         133,677,540
 

Dwight Asset Management Company

   Dwight Target 5 Fund         83,640,629
 

SEI Trust Company

   SEI Stable Asset Fund         15,621,963
              
     Total interest income fund         254,056,719

Other:

        
  Various    Tradelink+ Brokerage Accounts         12,270,385

*

  Plan participants    Participant loans (interest rates ranging from 5.75% to 9.25%)         15,147,189
              
     Total assets held for investment       $ 1,127,791,759
              

 

* Indicates party-in-interest investment
** Cost is not required as all investments are participant directed

 

12


SIGNATURES

The Plan. Pursuant to the requirements of the Securities 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 Finance and Administration Committee

Date: June 30, 2008

  By:  

/s/ Charles P. Slacik

    Charles P. Slacik
  Its:   Committee Chairman


INDEX TO EXHIBITS

 

Exhibit

Number

  

Description

23.1    Consent of KPMG LLP
23.2    Consent of Crowe Chizek and Company LLP