-----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, DIQqKKvtrucJGzq/wiu6tdd5Olhv1LICRlUGU2xTVyskX7VlUvhSlv4uBxlnjiha FLELsvFgmWzPm7vECNjAbQ== 0000009892-97-000013.txt : 19970630 0000009892-97-000013.hdr.sgml : 19970630 ACCESSION NUMBER: 0000009892-97-000013 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARD C R INC /NJ/ CENTRAL INDEX KEY: 0000009892 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 221454160 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-06926 FILM NUMBER: 97631701 BUSINESS ADDRESS: STREET 1: 730 CENTRAL AVE CITY: MURRAY HILL STATE: NJ ZIP: 07974 BUSINESS PHONE: 9082778000 MAIL ADDRESS: STREET 1: 730 CENTRAL AVENUE CITY: MURRAY HILL STATE: NJ ZIP: 07974 10-K/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K/A AMENDMENT #1 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1996 Commission File Number 1-6926 C. R. BARD, INC. (Exact name of registrant as specified in its charter) New Jersey 22-1454160 (State of incorporation) (I.R.S. Employer Identification No.) 730 Central Avenue Murray Hill, NJ 07974 (Address of principal executive offices) Registrant's telephone number, including area code: (908) 277-8000 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which registered Common Stock - $.25 par value New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendments to this Form 10-K. Yes [X] No [ ] The aggregate market value of the voting stock held by nonaffiliates of the registrant was approximately $1,560,700,000 based on the closing price of stock traded on the New York Stock Exchange on February 28, 1997. As of February 28, 1997, there were 57,011,717 shares of Common Stock, $.25 par value per share, outstanding. The Company's definitive Proxy Statement dated March 7, 1997 has been incorporated by reference with respect to certain information contained therein in Part III and Part IV of this Form 10-K. The exhibit index is located in Part IV, Item 14, page IV-1. The undersigned registrant hereby amends the following items, financial statements, exhibits or other portions of its Annual Report on Form 10-K for the year ended December 31, 1996 as set forth in the pages attached hereto. Exhibit 14 Exhibits, Financial Statement Schedules and Reports on Form 8-K. The following financial statements with respect to the Employees' Retirement Savings Plan of C. R. Bard, Inc. (the "Retirement Savings Plan") are filed herewith as Exhibit 99(a) pursuant to Rule 15d-21 under the Securities Exchange Act of 1934, in lieu of filing on Form 11-K: (a) Report of Independent Public Accountants (b) Statements of Net Assets Applicable to Participants' Equity as of December 31, 1996 and 1995 (c) Statement of Changes in Net Assets Applicable to Participants' Equity for the Year Ended December 31, 1996 (d) Notes to Financial Statements Exhibit 23 Consent of Arthur Andersen LLP The Retirement Savings Plan is subject to the Employee Retirement Income Security Act of 1974, as amended, and the foregoing financial statements are filed in lieu of the financial statements required by Items 1, 2 and 3 of Form 11-K. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereto duly authorized. C. R. BARD, INC. (Registrant) By: William C. Bopp /s/ William C. Bopp Executive Vice President and Chief Financial Officer June 27, 1997 EX-23 2 EXHIBIT 23 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS To C. R. Bard, Inc.: As independent public accountants, we hereby consent to the incorporation by reference of our report dated January 24, 1997, included in this Form 10-K/A, into C. R. Bard, Inc.'s previously filed Registration Statements (i) on Form S-8 for the Employees' Retirement Savings Plan of C. R. Bard, Inc., the 1990 Employee Stock Option Plan, as amended, Registration No. 33-35544, the C. R. Bard, Inc., 1988 Directors Stock Award Plan, as amended, the 1993 Long Term Incentive Plan of C. R. Bard, Inc., Registration No. 33-64874, the 1993 Long Term Incentive Plan of C. R. Bard, Inc., Registration No. 333-07189 and the MedChem Products, Inc. 1994 Stock Option Plan, MedChem Products, Inc. 1993 Stock Option Plan, MedChem Products, Inc. 1993 Spin-Off Stock Option Plan, MedChem Products, Inc. 1993 Director Stock Option Plan and MedChem Products, Inc. Amended and Restated Stock Option Plan, all formerly maintained by MedChem Products, Inc., Registration No. 33-63147, and (ii) on Form S-3, Registration No. 333-05997. /s/ ARTHUR ANDERSEN LLP Roseland, New Jersey June 27, 1997 EX-99 3 EXHIBIT 99(a) Employees' Retirement Savings Plan Of C. R. Bard, Inc. Financial Statements As Of December 31, 1996 And 1995 Together With Report of Independent Public Accountants REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Retirement Committee of the Employees' Retirement Savings Plan of C. R. Bard, Inc.: We have audited the accompanying statements of net assets applicable to participants' equity of the Employees' Retirement Savings Plan of C.R. Bard, Inc. as of December 31, 1996 and 1995, and the related statement of changes in net assets applicable to participants' equity for the year ended December 31, 1996. 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, the financial statements referred to above present fairly, in all material respects, the net assets applicable to participants' equity as of December 31, 1996 and 1995, and the changes in net assets applicable to participants' equity for the year ended December 31, 1996, in conformity with generally accepted accounting principles. Our audits were performed 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 and reportable transactions 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 fund information in the statement of changes in net assets applicable to participants' equity is presented for purposes of additional analysis rather than to present the changes in net assets applicable to participants' equity of each fund. The supplemental schedules and fund information 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. Roseland, New Jersey June 2, 1997 EMPLOYEES' RETIREMENT SAVINGS PLAN OF C.R. BARD, INC. STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY AS OF DECEMBER 31, 1996 AND 1995
1996 1995 ASSETS Investments - at fair value Bard Common Stock Fund $ 36,663,795 $ 40,939,025 Guaranteed Investment Fund 23,608,516 24,332,686 Diversified Common Stock Fund 38,452,475 24,024,500 Short-Term Investment Fund 3,086,936 2,526,405 U.S. Treasury Fund 3,325,419 2,562,072 Participant Loans 2,102,237 1,802,395 Total investments $107,239,378 $ 96,187,083 Accrued interest and dividends receivable 82,801 82,026 Total assets $107,322,179 $ 96,269,109 LIABILITIES: Due to broker 199,859 237,977 Net assets applicable to participants equity $107,122,320 $ 96,031,132
The accompany notes to financial statements are an integral part of these statements. EMPLOYEES' RETIREMENT SAVINGS PLAN OF C. R. BARD, INC. STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY FOR THE YEAR ENDED DECEMBER 31, 1996
Bard Common Guaranteed Diversified Short-Term U.S. Stock Investment Common Investment Treasury Fund Fund Stock Fund Fund Fund NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning of year $40,939,025 $24,332,686 $24,024,500 $2,526,405 $2,562,072 ADDITIONS Employer contributions 3,112,179 0 0 0 0 Employee contributions 2,598,720 2,477,221 5,346,429 1,557,784 538,253 Transfers in from merged plan 0 0 0 2,594,656 0 Realized gain on invest- ments sold 1,122,660 0 2,589,529 0 0 Interest and dividend income 847,085 1,520,718 1,095,010 160,411 190,436 Net appreciation of in- vestments 0 0 2,989,580 0 0 Loans advanced, net of repayments (69,300) (137,928) (71,326) (7,551) (2,859) 7,611,344 3,860,011 11,949,222 4,305,300 725,830 DEDUCTIONS Disbursements to parti- cipants 4,289,464 2,711,136 3,053,619 632,545 317,283 Realized loss on invest- ments sold 0 0 0 0 20,434 Net depreciation of in- vestments 6,650,700 0 0 0 14,146 Other 546 4,912 99 4,370 0 10,940,710 2,716,048 3,053,718 636,915 351,863 NET TRANSFERS BETWEEN FUNDS (945,864) (1,868,133) 5,532,471 (3,107,854) 389,380 NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $36,663,795 $23,608,516 $38,452,475 $3,086,936 $3,325,419 EMPLOYEES' RETIREMENT SAVINGS PLAN OF C. R. BARD, INC.
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY FOR THE YEAR ENDED DECEMBER 31, 1996 (Continued)
Accrued Interest & Participant Dividends Due To Loans Receivable Broker Total NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning of year $1,802,395 $82,026 $(237,977) $ 96,031,132 ADDITIONS Employer contributions 0 0 0 3,112,179 Employee contributions 0 0 0 12,518,407 Transfers in from merged plans 0 0 0 2,594,656 Realized gain on invest- ments sold 0 0 0 3,712,189 Interest and dividend income 190,235 775 0 4,004,670 Net appreciation of in- vestments 0 0 0 2,989,580 Loans advanced, net of repayments 288,964 0 0 479,199 775 0 28,931,681 DEDUCTIONS Disbursements to parti- cipants 179,357 0 0 11,183,404 Realized loss on invest- ments sold 0 0 0 20,434 Net depreciation of in- vestments 0 0 0 6,664,846 Other 0 0 (38,118) (28,191) 179,357 0 (38,118) 17,840,493 NET TRANSFERS BETWEEN FUNDS 0 0 0 0 NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $2,102,237 $82,801 $(199,859) $107,122,320
The accompanying notes to financial statements are an integral part of this statement. EMPLOYEES' RETIREMENT SAVINGS PLAN OF C R BARD, INC. NOTES TO FINANCIAL STATEMENTS (1) PLAN DESCRIPTION: The following description of the Employees' Retirement Savings Plan of C.R. Bard, Inc. (the Plan) is provided for general information purposes. Participants of the Plan should refer to the Plan document for more details and complete information. General- The Plan is a defined contribution plan for which contributions are made by C. R. Bard, Inc. (the Company) and Plan participants. All domestic employees of the Company, not covered by a collective bargaining agreement, who have completed 1,000 hours of service and have attained the age of 21, are eligible to participate in the Plan. Contributions- Plan participants may elect to make tax deferred contributions through payroll deductions equal to 2% to 15% of their compensation. Salespersons' commissions are also eligible for contributions to the Plan. The Company matches 100% of participants' contributions up to the first 2% of their compensation and 25% of their contributions between 2% and 4% of their compensation. The Company may elect, at its discretion, to make additional matching contributions. However, matching contributions (when aggregated with elective deferral contributions) are not to exceed the maximum tax deductible amount per current Federal tax regulations. Participants may direct their contribution to be invested in one of the following types of investment funds: (1) Short-Term Investment Fund, (2) Guaranteed Investment Fund, (3) Bard Common Stock Fund, (4) Diversified Common Stock Fund, and (5) U. S. Treasury Fund. All employee contributions are fully vested and nonforfeitable. Company contributions are invested solely in the Bard Common Stock Fund and may be made in cash or Company stock. Forfeitures At December 31, 1996, forfeited nonvested accounts totaled approximately $53,000. These accounts will be used to reduce future Company matching contributions. Also, in 1996, employer contributions were reduced by $753,798 from forfeited nonvested accounts. Vesting Participants are always fully vested in their elective contributions. Participants are vested in the Company's matching contribution as follows: Years Participated in Plan % Vested Under 2 0 2 but < 3 25% 3 but < 4 50% 4 but < 5 75% 5 or more 100% Income Allocations- Investment income for an accounting period shall be allocated to participants' accounts in proportion to the total of their respective account balances at the beginning of such accounting period plus any contributions or loan repayments credited to the account during the period. Distributions- Participants will receive the full amount of their vested account balance when one of the following events occurs: normal retirement, termination of service, death or disability. Early withdrawals are permitted at the participant's request after attainment of age 59-1/2. Certain hardship withdrawals are also permitted. Distributions may be made in a lump sum payment or in a series of installments over 3 to 10 years. - 2 - (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Estimates in the Preparation of Financial Statements- The preparation of 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 additions and deductions during the reporting period. Actual results could differ from those estimates. Valuation of Investments- Investments in the Diversified Common Stock Fund and The Short-Term Investment Fund are in the form of units of participation within the account with the unit value of each account calculated periodically by the trustee reflecting transaction gains and losses, appreciation or depreciation of the market value of the account investments, interest and dividends. The Guaranteed Investment Fund is a pooled fund which is reported on the financial statements at contract value, which approximates fair value, which approximates fair value, as determined by the Trustee. The average yields of the Fund for the years ended December 31, 1996 and 1995 were 6.73% and 7.17%, respectively. The crediting interest rate was 6.48% and 6.72% as of December 31, 1996 and 1995, respectively. This rate is determined periodically by the Trustee based on the Fund's holdings. As of December 31, 1996 and 1995, there were no valuation reserves needed within the Fund, however, it did hold a Guaranteed Investment Contract in rehabilitation (See Note 6). Plan Administration- Under a trust agreement dated October 1, 1983, United States Trust Company of New York was appointed trustee of the Plan and administers the Plan's assets together with the income therefrom. In 1995 United States Trust Company of New York merged with Chase Manhattan Bank, N.A. All expenses incurred for the Plan by the trustee and the Company may be either paid by the Company or from the assets of the Plan. Substantially all expenses of the Plan were paid by the Company during 1996. - 3 - Plan Administration (continued) Accounting records maintained by the trustee are on the accrual basis of accounting. Investment transactions are recorded on a trade date basis. The Plan had no assets not having a readily determinable market value as of December 31, 1996 and 1995. Tax Status- The Internal Revenue Service issued a determination letter dated February 28, 1996 stating that the Plan was in accordance with applicable plan design requirements as of that date. The Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, they believe that the Plan was qualified and the related trust was tax-exempt as of the financial statement dates. (3) RELATED PARTY TRANSACTIONS: As of December 31, 1996 and 1995, the Plan holds 1,296,781 and 1,258,150 shares of C. R. Bard, Inc. common stock, respectively, with a market value of $36,309,868 at December 31, 1996 and $40,575,338 at December 31, 1995. During the year ended December 31, 1996, 200,408 shares of such common stock were acquired at a cost of $6,465,208; 137,535 shares were sold with an original cost basis of $3,266,337 and 24,242 shares were delivered to Plan participants with an original cost basis of $577,487. All of the Plan's investment funds purchase units of participation in the Chase Manhattan Bank Pooled Investment Trust For Employee Benefit Plans II (the "Investment Trust") with temporarily uninvested cash. Since the Trustee manages this Investment Trust, these transactions qualify as party-in-interest. - 4 - (4) RECONCILIATION TO FORM 5500 The following is a reconciliation of net assets applicable to participants' equity per the financial statements to the Form 5500: December 31, 1996 1995 Net assets applicable to participants' equity per the financial statements $107,122,320 $96,031,132 Amounts allocated to with- drawing participants (1,935,247) (756,322) Net assets applicable to participants' equity per the Form 5500 $105,187,073 $95,274,810 The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500: Year ended December 31, 1996 Benefits paid to participants per the financial statements $11,183,404 Add: Amount allocated to with- drawing participants at December 31, 1996 1,935,247 Less: Amounts allocated with- drawing participants at December 31, 1995 (756,322) Benefits paid to participants per the Form 5500 $12,362,329 - 5 - (S) 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 Employee Retirement Income Security Act of 1974. In the event of plan termination, participants will become fully vested in their account balances. (6) FIXED INCOME OBLIGATIONS IN REHABILITATION Included in the Plan's assets is a Guaranteed Investment Contract (GIC) from Confederation Life Insurance Co., which is in rehabilitation. The original interest rate has been reduced in half and the maturity date has been extended. It has been determined by the Trustee that the contract value of $581,044 is collectable. The Company has committed to pay the applicable balance into the Plan in the event that there is a shortfall upon settlement. - 6 - SCHEDULE I EMPLOYEES RETIREMENT SAVINGS PLAN OF C. R. BARD, INC. EIN #22-1454160, PLAN #003 ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1996
(c) Description of investment (b) Identity of issue, including maturity date, borrower, lessor or rate of interest, collateral, (e) Current (a) similar party par or maturity value (d) Cost Value BARD COMMON STOCK FUND * C. R. Bard, Inc. Common Stock $31,672,308 $ 36,309,868 Chase Manhattan Bank, Units of participation in U.S. 353,927 353,927 N.A. Trust Co. Pooled Trust Short- Term Fixed Income Fund, 353,927 units, $1.00 per unit Total Bard Common Stock Fund 32,026,235 36,663,795 GUARANTEED INVESTMENT FUND: Confederation Life Ins. GIC #62094, 8/31/99, 4.69% 581,044 581,044 Co. First Allmerica Financial GA #92125-B-1, 10/30/98, 6.530% 953,548 953,548 Life Insurance First Allmerica Financial GA #92125-B-2, 12/30/98, 6.530% 953,548 953,548 Life Insurance Hartford Life Ins. Co. GA #10311, 4/14/00, 7.61% 1,194,625 1,194,625 Life Ins. Co. of Virginia GS #2778A, 8/24/98, 6.4% 2,377,269 2,377,269 Metropolitan Life Ins. Co. GAC #20106, 12/31/97, 6.6% 1,291,306 1,291,306 New York Life Ins. Co. GA #30213-1, 3/31/98, 5.72% 1,239,638 1,239,638 New York Life Ins. Co. GA #30213-2, 31/1/99, 6.50% 894,368 894,368 New York Life Ins. Co. GA #30213-3, 4/30/99, 6.50% 894,368 894,368 SCHEDULE I (continued) (b) Identity of issue, including maturity date, borrower, lessor or rate of interest, collateral, (e) Current (a) similar party par or maturity value (d) Cost Value GUARANTEED INVESTMENT FUND: (continued) Ohio National Life GA #5576, 3/11/98, 5.74% 1,239,041 1,239,041 Ins. Co. Principal Mutual Life GA #4-2879-1, 6/11/97, 7.56% 355,411 355,411 Ins. Co. Principal Mutual Life GA #4-2879-2, 6/11/97, 7.56% 354,985 354,985 Ins. Co. Principal Mutual Life GA #4-2879-3, 9/10/97, 6.1% 967,862 967,862 Ins. Co. Principal Mutual Life GA #4-2879-4, 3/22/00, 8.20% 582,344 582,344 Ins. Co. Protective Life Ins. Co. GA #1107, 12/9/99, 8.14% 1,175,207 1,175,207 Commonwealth Life Ins. Co. ADA-00605FR, 6/11/99, 7.150% 600,449 600,449 Sun Life Assurance Co. GIC #S-0923-G, 3/24/97, 6.87% 558,692 558,692 of Canada (U.S.) Sun Life Assurance Co. GIC #S-0924-G, 2/14/00, 7.38% 1,178,967 1,178,967 of Canada (U.S.) Transamerica Occidental GIC #51378-00, 6/9/00, 6.70% 1,563,956 1,563,956 Life * Chase Manhattan Bank, N.A. Units of participation in U.S. Trust 4,651,888 4,651,888 Co. Pooled Trust Short-Term Fixed Income Fund, 4,651,888 units, $1.00 per unit Total Guaranteed Investment Fund 23,608,516 23,608,516 SCHEDULE I (continued) (c) Description of investment (b) Identity of issue, including maturity date, borrower, lessor or rate of interest, collateral, (e) Current (a) similar party par or maturity value (d) Cost Value DIVERSIFIED COMMON STOCK FUND Vanguard Quantitative Units of participation in Common 31,156,206 38,205,493 Portfolios Inc. Stock Mutual Fund, 1,718,646 units, $22.23 per unit * Chase Manhattan Bank, N.A. Units of participation in U.S. 246,982 246,982 Trust Co. Pooled Trust Short- Term Fixed Income Fund, 246,982 units, $1.00 per unit Total Diversified Common Stock Fund $31,403,188 $ 38,452,475 SHORT-TERM INVESTMENT FUND Chase Manhattan Bank, N.A. Units of participation in U.S. Trust Co. Pooled Trust Short- Term Fixed Income Fund, 3,086,936 units, $1.00 per unit $ 3,086,936 $ 3,086,936 U.S. TREASURY FUND: United States Treasury U.S. Treasury Note, 1/31/97, 6.25% 89,775 90,042 Notes United States Treasury U.S. Treasury Note, 3/31/97, 6.875% 98,391 100,359 Notes United States Treasury U.S. Treasury Note, 5/31/97, 6.75% 99,750 100,516 Notes United States Treasury U.S. Treasury Note, 6/30/97, 6.375% 98,125 100,344 Notes United States Treasury U.S. Treasury Note, 8/15/97, 6.5% 98,641 100,594 Notes SCHEDULE I (continued) (c) Description of investment (b) Identity of issue, including maturity date, borrower, lessor or rate of interest, collateral, (e) Current (a) similar party par or maturity value (d) Cost Value United States Treasury U.S. Treasury Note, 10/15/97, 8.75% 104,719 102,391 Notes United States Treasury U.S. Treasury Note, 12/31/97, 6.0% 95,672 100,359 Notes United States Treasury U.S. Treasury Note, 1/15/98, 7.875% 100,094 102,219 Notes United States Treasury U.S. Treasury Note, 2/15/98, 7.25% 126,523 127,051 Notes United States Treasury U.S. Treasury Note, 4/30/98, 5.125% 194,859 198,468 Notes United States Treasury U.S. Treasury Note, 6/30/98, 5.125% 98,906 99,094 Notes United States Treasury U.S. Treasury Note, 8/15/98, 5.875% 198,297 200,094 Notes United States Treasury U.S. Treasury Note, 10/15/98, 7.125% 104,031 102,125 Notes United States Treasury U.S. Treasury Note, 12/31/98, 5.125% 97,594 98,609 Notes United States Treasury U.S. Treasury Note, 1/31/99, 5.0% 99,391 98,266 Notes United States Treasury U.S. Treasury Note, 3/31/99, 5.875% 101,828 99,906 Notes United States Treasury U.S. Treasury Note, 5/31/99, 6.750% 104,328 101,703 Notes United States Treasury U.S. Treasury Note, 7/15/99, 6.375% 200,687 201,812 Notes United States Treasury U.S. Treasury Note, 9/30/99, 7.125% 102,531 102,766 Notes SCHEDULE 1 (continued) (c) Description of investment (b) Identity of issue, including maturity date, borrower, lessor or rate of interest, collateral, (e) Current (a) similar party par or maturity value (d) Cost Value United States Treasury U.S. Treasury Note, 11/30/99, 7.750% 157,172 156,726 Notes United States Treasury U.S. Treasury Note, 1/15/00, 6.375% 201,375 201,750 Notes United States Treasury U.S. Treasury Note, 3/31/00, 6.875% 154,207 153,375 Notes * Chase Manhattan Bank, N.A. Vista Premier Treasury Plus Money 586,850 586,850 Market Fund Total U.S. Treasury Fund 3,313,746 3,325,419 OTHER Participant Loans With interest rates ranging from 2,102,237 2,102,237 7.5% to 10% and maturing through 2011 Total investments held $95,540,858 $107,239,378
* Indicates related party. The accompanying notes to financial statements are an integral part of this schedule EMPLOYEES' RETIREMENT SAVINGS PLAN OF C. R. BARD, INC. EIN #22-1454160, PLAN #003 ITEM 27d-SCHEDULE OF REPORTABLE TRANSACTIONS (J) FOR THE YEAR ENDED DECEMBER 31, 1996
(h)Current value of asset on (I)Net (a)Identity of (b)Description (c)Purchase (d)Selling (g)Cost of transaction gain or party involved of asset price price asset date loss Chase Manhattan Purchase of units of $33,216,690 $ 0 $33,126,690 $33,216,690 $ 0 Bank, N.A. participation in Chase Manhattan Pooled Investment Trust for Employee Benefit Plans II Chase Manhattan Sale of units of 0 30,811,422 30,811,422 30,811,422 0 Bank, N.A. participation in Chase Manhattan Pooled Investment Trust for Employee Benefit Plans II C.R. Bard, Inc. Purchase of 6,465,208 0 6,465,208 6,465,208 0 C.R. Bard, Inc. common stock C.R. Bard, Inc. Sale of C.R. Bard, 0 4,388,997 3,266,337 4,388,997 1,122,660 Inc. common stock Vanguard Purchase of units 12,506,982 0 12,506,982 12,506,982 0 Quantitative of participation Portfolios, Inc. in Common Stock Mutual Fund SCHEDULE II (continued) (h)Current value of asset on (I)Net (a)Identity of (b)Description (c)Purchase (d)Selling (g)Cost of transaction gain or party involved of asset price price asset date loss Vanguard Sale of units of 0 3,735,735 1,146,206 3,735,735 2,589,529 Quantitative participation in Portfolios, Inc. Common Stock Mutual Fund Chase Manhattan Purchase of units 2,267,623 0 2,267,623 2,267,623 0 Bank, N.A. of participation in U.S. Trust Company Pooled Trust Short Term Fixed Income Fund Chase Manhattan Sale of units of 0 3,270,502 3,270,502 3,270,502 0 Bank, N.A. participation in U.S. Trust Company Pooled Trust Short Term Fixed Income Fund
(J) Reportable transactions are those purchases and sales of the same security which, individually or in the aggregate, exceed 5% of Plan assets at January 1, 1996 The accompanying notes to financial statements are an integral part of this schedule. -----END PRIVACY-ENHANCED MESSAGE-----