<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission File Number: _________
A. FULL TITLE OF THE PLAN:
CCC INFORMATION SERVICES INC. 401(K) RETIREMENT SAVINGS & INVESTMENT PLAN
B. NAME OF ISSUER OF THE SECURITIES HELD PURSUANT TO THE PLAN AND THE ADDRESS
OF IT PRINCIPAL EXECUTIVE OFFICES:
CCC INFORMATION SERVICES GROUP INC.
World Trade Center Chicago
444 Merchandise Mart
Chicago, Illinois 60654-1005
(312) 222-4636
<PAGE>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of
CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS &
INVESTMENT PLAN
FINANCIAL STATEMENTS AND
ADDITIONAL INFORMATION
Years Ended December 31, 1996 and 1995
<PAGE>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION
TABLE OF CONTENTS
Page(s)
Report of Independent Accountants 1
Financial Statements:
Statements of Net Assets Available for Plan Benefits, with
Fund Information - December 31, 1996 and 1995 2-3
Statements of Changes in Net Assets Available for Plan Benefits,
with Fund Information - Years Ended December 31, 1996 and 1995 4-5
Notes to Financial Statements 6-9
Additional Information:
Schedule of Assets Held for Investment Purposes -
December 31, 1996 Schedule I
Schedule of Reportable Transactions -
Year Ended December 31, 1996 Schedule II
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Participants and Administrator of
CCC Information Services Inc.
401(k) Retirement Savings & Investment Plan
In our opinion, the accompanying statements of net assets available for plan
benefits and the related statements of changes in net assets available for
plan benefits present fairly, in all material respects, the net assets
available for benefits of the CCC Information Services Inc. 401(k) Retirement
Savings & Investment Plan (Plan) at December 31, 1996 and 1995, and the
changes in net assets available for plan benefits for the years then ended,
in conformity with generally accepted accounting principles. 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 of these statements in accordance with
generally accepted auditing standards which 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, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information included
in Schedules I and II is presented for purposes of additional analysis and is
not a required part of the basic financial statements but is additional
information required by ERISA. The Fund Information in the statement of net
assets available for plan benefits and the statement of changes in net assets
available for plan benefits is presented for purposes of additional analysis
rather than to present the net assets available for plan benefits and changes
in net assets available for plan benefits of each fund. Schedules I and II
and the 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.
Price Waterhouse LLP
June 25, 1997
Chicago, Illinois
<PAGE>
<TABLE>
<CAPTION>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR
PLAN BENEFITS, WITH FUND INFORMATION
December 31, 1996
FUND INFORMATION
-----------------------------------------------------------------------
WARBURG
FIDELITY PINCUS KEMPER
THE BLUE CHIP KEMPER GROWTH & TOTAL
KAUFMANN GROWTH GROWTH INCOME RETURN
FUND, INC. FUND FUND - A FUND FUND - A
---------- --------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 2,014,269 $ 1,782,188 $ 1,644,604 $ 717,471 $ 576,772
Principal loan balance - - - - -
Contribution receivable:
Employee 15,428 15,115 7,468 6,760 2,646
Employer 2,273 1,703 1,289 668 587
------------ ------------ ------------ ---------- ----------
Total assets $ 2,031,970 $ 1,799,006 $ 1,653,361 $ 724,899 $ 580,005
============ ============ ============ ========== ==========
Less amounts due participants
Net assets available for plan benefits
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
-----------------------------------------------------------------------
FIDELITY WARBURG
SPARTAN PINCUS
FIDELITY MONEY BERWYN INTERNATIONAL KEMPER
PURITAN MARKET INCOME EQUITY INTERNATIONAL
FUND FUND FUND, INC. FUND FUND - A
-------- -------- ---------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 480,762 $ 454,183 $ 304,389 $ 291,759 $ 229,568
Principal loan balance - - - - -
Contribution receivable:
Employee 4,011 2,304 2,183 2,553 1,914
Employer 493 342 373 222 199
---------- ---------- ---------- ---------- ----------
Total assets $ 485,266 $ 456,829 $ 306,945 $ 294,534 $ 231,681
========== ========== ========== ========== ==========
Less amounts due participants
Net assets available for plan benefits
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
----------------------------------------------------------
KEMPER KEMPER
INCOME U.S.
AND CAPITAL GOVERNMENT PRINCIPAL
PRESERVATION SECURITIES LOAN
FUND - A FUND - A BALANCE OTHER COMBINED
------------ ---------- --------- ------- -----------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 192,639 $ 172,447 $ - $ - $ 8,861,051
Principal loan balance - - 144,274 - 144,274
Contribution receivable:
Employee 879 1,233 (2,343) - 60,151
Employer 165 152 - - 8,466
---------- ---------- ---------- -------- -----------
Total assets $ 193,683 $ 173,832 $ 141,931 - 9,073,942
========== ========== ==========
Less amounts due participants (58,372) (58,372)
-------- ----------
Net assets available for plan benefits $(58,372) $9,015,570
======== ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
2
<PAGE>
<TABLE>
<CAPTION>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR
PLAN BENEFITS, WITH FUND INFORMATION
December 31, 1995
FUND INFORMATION
-----------------------------------------------------------------------
WARBURG
FIDELITY PINCUS KEMPER
THE BLUE CHIP KEMPER GROWTH & TOTAL
KAUFMANN GROWTH GROWTH INCOME RETURN
FUND, INC. FUND FUND - A FUND FUND - A
---------- --------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 979,601 $1,107,391 $1,355,285 $576,061 $534,593
Principal loan balance - - - - -
---------- ---------- ---------- -------- --------
Total assets $ 979,601 $1,107,391 $1,355,285 $576,061 $534,593
========== ========== ========== ======== ========
Less amounts due participants
Net assets available for plan benefits
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
----------------------------------------------------------------------
FIDELITY WARBURG
SPARTAN PINCUS
FIDELITY MONEY BERWYN INTERNATIONAL KEMPER
PURITAN MARKET INCOME EQUITY INTERNATIONAL
FUND FUND FUND, INC. FUND FUND - A
-------- -------- ---------- ------------- --------------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 323,638 $ 558,609 $ 245,302 $ 200,844 $ 153,216
Principal loan balance - - - - -
---------- ---------- ---------- ---------- ----------
Total assets $ 323,638 $ 558,609 $ 245,302 $ 200,844 $ 153,216
========== ========== ========== ========== ==========
Less amounts due participants
Net assets available for plan benefits
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
---------------------------------------------------------
KEMPER KEMPER
INCOME U.S.
AND CAPITAL GOVERNMENT PRINCIPAL
PRESERVATION SECURITIES LOAN
FUND - A FUND - A BALANCE OTHER COMBINED
------------ ---------- --------- ----- --------
<S> <C> <C> <C> <C> <C>
Investments, at market value $ 197,753 $ 203,927 $ - $ - $ 6,436,220
Principal loan balance - - 90,859 - 90,859
---------- ---------- --------- -------- ------------
Total assets $ 197,753 $ 203,927 $ 90,859 - 6,527,079
========== ========== =========
Less amounts due participants (57,988) (57,988)
-------- ------------
Net assets available for plan benefits $(57,988) $ 6,469,091
======== ============
</TABLE>
The accompanying notes are an integral part of these financial statements.
3
<PAGE>
<TABLE>
<CAPTION>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS, WITH FUND INFORMATION
Year Ended December 31, 1996
Fund Information
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Warburg Fidelity
Fidelity Pincus Kemper Spartan
The Blue Chip Kemper Growth & Total Fidelity Money Berwyn
Kaufmann Growth Growth Income Return Puritan Market Income
Fund, Inc. Fund Fund-A Fund Fund-A Fund Fund Fund
---------- -------- ------ --------- ------ -------- ------- -------
Source of net assets:
Contributions:
Employee $ 546,435 $ 551,461 $ 264,349 $ 272,801 $ 85,120 $ 105,885 $ 101,165 $ 70,423
Employer 86,504 93,053 46,872 43,668 18,868 21,969 14,742 13,788
Loan Repayments 10,307 12,922 4,702 3,389 2,096 4,156 3,601 919
Investment income 113,579 108,975 394,370 (4,232) 94,175 55,141 21,911 29,492
Net appreciation
(depreciation) in
fair value of
investments 149,154 110,516 (176,310) (7,615) (10,993) 4,452 - 6,534
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
Total sources 905,979 876,927 533,983 308,011 189,266 191,603 141,419 121,156
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
Application of net assets:
Withdrawals (139,740) (105,947) (179,493) (53,995) (89,564) (52,269) (229,306) (30,480)
Loans to participants (30,681) (26,135) (19,534) (6,291) (4,208) (8,899) (1,808) (421)
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
Total applications (170,421) (132,082) (199,027) (60,286) (93,772) (61,168) (231,114) (30,901)
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
Interfund transfers,
net 316,811 (53,230) (36,880) (98,887) (50,082) 31,193 (12,085) (28,612)
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
Increase (decrease) in
net assets during
the year 1,052,369 691,615 298,076 148,838 45,412 161,628 (101,780) 61,643
Net assets available
for plan benefits:
Beginning of the year 979,601 1,107,391 1,355,285 576,061 534,593 323,638 558,609 245,302
----------- ---------- ---------- --------- ---------- ---------- --------- ---------
End of the year $ 2,031,970 $1,799,006 $1,653,361 $ 724,899 $ 580,005 $ 485,266 $ 456,829 $ 306,945
=========== ========== ========== ========= ========== ========== ========= =========
Fund Information
----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Warburg Kemper Kemper
Pincus Income U.S.
International Kemper and Capital Government Principal
Equity International Preservation Securities Loan
Fund Fund-A Fund-A Fund-A Balance Other Combined
------------- ------------- ------------ ---------- --------- ------- --------
Source of net assets:
Contributions:
Employee $ 103,721 $ 44,616 $ 33,779 $ 34,905 $ - $ - $ 2,214,660
Employer 14,290 9,474 7,506 8,537 - - 379,271
Loan Repayments 1,987 505 370 877 (45,831) - -
Investment income 17,437 18,107 11,954 13,262 - - 874,171
Net appreciation
(depreciation) in
fair value of
investments 8,604 12,159 (9,045) (8,018) - - 79,438
----------- ---------- --------- --------- --------- --------- -----------
Total sources 146,039 84,861 44,564 49,563 (45,831) - 3,547,540
----------- ---------- --------- --------- --------- --------- -----------
Application of net assets:
Withdrawals (27,501) (31,013) (14,367) (32,160) (14,842) (384) (1,001,061)
Loans to participants (7,266) (1,789) (3,087) (1,626) 111,745 - -
----------- ---------- --------- --------- --------- --------- -----------
Total applications (34,767) (32,802) (17,454) (33,786) 96,903 (384) (1,001,061)
----------- ---------- --------- --------- --------- --------- -----------
Interfund transfers,
net (17,582) 26,406 (31,180) (45,872) - - -
----------- ---------- --------- --------- --------- --------- -----------
Increase (decrease) in
net assets during
the year 93,690 78,465 (4,070) (30,095) 51,072 (384) 2,546,479
Net assets available
for plan benefits:
Beginning of the year 200,844 153,216 197,753 203,927 90,859 (57,988) 6,469,091
----------- ---------- --------- --------- --------- --------- -----------
End of the year $ 294,534 $ 231,681 $ 193,683 $ 173,832 $ 141,931 $ (58,372) $ 9,015,570
=========== ========== ========= ========= ========= ========= ===========
</TABLE>
The accompanying notes are an integral part of these financial statements.
4
<PAGE>
<TABLE>
<CAPTION>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS, WITH FUND INFORMATION
Year Ended December 31, 1995
FUND INFORMATION
----------------------------------------------------------------------
WARBURG
FIDELITY PINCUS KEMPER
THE BLUE CHIP KEMPER GROWTH & TOTAL
KAUFMAN GROWTH GROWTH INCOME RETURN
FUND, INC. FUND FUND - A FUND FUND - A
---------- --------- -------- -------- --------
<S> <C> <C> <C> <C> <C>
Source of net assets:
Contributions:
Employee $ 175,213 $ 198,534 $ 322,908 $ 101,242 $ 209,744
Employer 28,411 33,588 79,530 17,936 46,179
Loan Repayments 2,927 3,909 6,285 913 5,354
Investment income 15,985 72,995 156,498 29,920 53,747
Net appreciation (depreciation)
in fair value of investments 14,100 (79,502) 306,536 (34,518) 165,256
---------- ---------- ---------- ----------- -----------
Total sources 236,636 229,524 871,757 115,493 480,280
---------- ---------- ---------- ----------- -----------
Application of net assets:
Withdrawals (17,246) (17,526) (207,651) (10,148) (138,285)
Loans to participants - - - - -
---------- ---------- ---------- ----------- -----------
Total applications (17,246) (17,526) (207,651) (10,148) (138,285)
---------- ---------- ---------- ----------- -----------
Interfund transfers, net 760,211 895,393 (889,326) 470,716 (819,964)
---------- ---------- ---------- ----------- -----------
Increase (decrease) in net assets 979,601 1,107,391 (225,220) 576,061 (477,969)
Net assets available for plan benefits:
Beginning of the year - - 1,580,505 - 1,012,562
---------- ---------- ---------- ---------- -----------
End of the year $ 979,601 $1,107,391 $1,355,285 $ 576,061 $ 534,593
========== ========== ========== ========== ===========
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
------------------------------------------------------------------------
FIDELITY WARBURG
SPARTAN PINCUS
FIDELITY MONEY BERWYN INTERNATIONAL KEMPER
PURITAN MARKET INCOME EQUITY INTERNATIONAL
FUND FUND FUND, INC. FUND FUND - A
-------- --------- --------- ------------- ------------
<S> <C> <C> <C> <C> <C>
Source of net assets:
Contributions:
Employee $ 43,343 $ 37,780 $ 27,570 $ 30,075 $ 102,597
Employer 8,757 7,334 6,150 4,776 28,203
Loan Repayments 967 1,595 232 718 1,605
Investment income 12,098 9,951 12,893 5,384 1,830
Net appreciation (depreciation)
in fair value of investments 2,171 - (6,682) 1,629 31,824
---------- ---------- ---------- ---------- ----------
Total sources 67,336 56,660 40,163 42,582 166,059
---------- ---------- ---------- ---------- ----------
Application of net assets:
Withdrawals (12,462) (37,039) (1,058) (3,309) (51,535)
Loans to participants - - - - -
---------- ---------- ---------- ---------- ----------
Total applications (12,462) (37,039) (1,058) (3,309) (51,535)
---------- ---------- ---------- ---------- ----------
Interfund transfers, net 268,764 538,988 206,197 161,571 (198,719)
---------- ---------- ---------- ---------- ----------
Increase (decrease) in net assets 323,638 558,609 245,302 200,844 (84,195)
Net assets available for plan benefits:
Beginning of the year - - - - 237,411
---------- ---------- ---------- ---------- ----------
End of the year $ 323,638 $ 558,609 $ 245,302 $ 200,844 $ 153,216
========== ========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
----------------------------------------------------------------------
KEMPER KEMPER
INCOME U.S. KEMPER KEMPER KEMPER
AND CAPITAL GOVERNMENT MONEY GLOBAL HIGH
PRESERVATION SECURITIES MARKET INCOME YIELD
FUND - A FUND - A PORTFOLIO FUND - A FUND - A
----------- ---------- --------- -------- --------
<S> <C> <C> <C> <C> <C>
Source of net assets:
Contributions:
Employee $ 99,007 $ 76,470 $ 76,373 $ 4,249 $ 92,011
Employer 15,045 17,494 16,316 1,364 14,353
Loan Repayments - 214 1,668 - 106
Investment income 24,963 24,776 14,458 4,607 9,409
Net appreciation (depreciation)
in fair value of investments 32,623 28,267 - 25,523 9,579
---------- ---------- -------- -------- --------
Total sources 171,638 147,221 108,815 35,743 125,458
---------- ---------- -------- -------- --------
Application of net assets:
Withdrawals (32,452) (36,061) (52,716) (25,142) (6,220)
Loans to participants - - - - -
---------- ---------- -------- -------- --------
Total applications (32,452) (36,061) (52,716) (25,142) (6,220)
---------- ---------- -------- -------- --------
Interfund transfers, net (230,091) (240,415) (444,992) (214,481) (224,790)
---------- ---------- -------- -------- --------
Increase (decrease) in net assets (90,905) (129,255) (388,893) (203,880) (105,552)
Net assets available for plan benefits:
Beginning of the year 288,658 333,182 388,893 203,880 105,552
---------- ---------- -------- -------- --------
End of the year $ 197,753 $ 203,927 $ - $ - $ -
========== ========== ======== ======== ========
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
-------------------------------------------------------
SELF PRINCIPAL
DIRECTED LOAN
FUNDS BALANCE OTHER ELIMINATION'S COMBINED
-------- ---------- ----- ------------- --------
<S> <C> <C> <C> <C> <C>
Source of net assets:
Contributions:
Employee $ 6,890 $ - $ - $ - $1,604,006
Employer 1,682 - - - 327,118
Loan Repayments 47 (26,540) - - -
Investment income 1,355 - - - 450,869
Net appreciation (depreciation)
in fair value of investments 8,063 - - - 504,869
---------- --------- -------- ------------ ----------
Total sources 18,037 (26,540) - - 2,886,862
---------- --------- -------- ------------ ----------
Application of net assets:
Withdrawals (24,488) - 4,210 71,837 (597,291)
Loans to participants - 71,837 - (71,837) -
---------- --------- -------- ------------ ----------
Total applications (24,488) 71,837 4,210 - (597,291)
---------- --------- -------- ------------ ----------
Interfund transfers, net (39,062) - - - -
---------- --------- -------- ------------ ----------
Increase (decrease) in net assets (45,513) 45,297 4,210 - 2,289,571
Net assets available for plan benefits:
Beginning of the year 45,513 45,562 (62,198) - 4,179,520
---------- --------- -------- ------------ ----------
End of the year $ - $ 90,859 $(57,988) $ - $6,469,091
========== ========== ======== ============ ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
5
<PAGE>
CCC INFORMATION SERVICES INC.
(A Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PLAN
GENERAL
The CCC Information Services Inc. (Company) 401(k) Retirement Savings &
Investment Plan (Plan) is a defined contribution plan pursuant to Section
401(k) of the Internal Revenue Code (IRC). The Plan is designed to provide
retirement benefits for all employees of the Company. Participants should
refer to the Plan agreement for a more complete description of the Plan's
provisions.
TRUSTEE
The Company has appointed an officer of the Company as trustee for the Plan
(Trustee).
THIRD PARTY ADMINISTRATOR AND CUSTODIAN
Prior to July 1, 1995, the third party administrator for the Plan was Life
Group Administrators Inc. and the Plan assets' custodian was Kemper Financial
Services. To provide participants with increased investment flexibility, the
Company entered into agreements, in July 1995, with The Benefit Center, Inc.
and Fidelity Funds Network to perform third party administrator and custodial
duties, respectively. On July 31, 1995, the Plan assets were transferred into
funds maintained by Fidelity Funds Network and invested in Investment Funds
as determined by Plan participants.
PARTICIPATION AND VESTING
Employees who have completed at least six months of service, attained the age
of 20 and are employed under a schedule equivalent to at least 20 hours per
week are eligible to participate in the Plan. Participants are always 100%
vested in their account balances, including employer contributions.
CONTRIBUTIONS
Plan participants may contribute annually an amount ranging between 1% and
14% of eligible compensation into any of the Plan's established Investment
Funds, as specified in the Plan agreement. All participant contributions are
subject to limitations set forth in the IRC and the regulations promulgated
thereunder. The Company match of participant contributions is 33%, limited to
an annual maximum of $1,000 per participant. Individual participant accounts
are maintained by the custodian for participant contributions, including the
Company matching contributions, and an individual's investment fund
performance. See Note 6 - Plan Changes Effective After December 31, 1996.
INVESTMENT FUNDS
1. THE KAUFMANN FUND, INC.
Assets included in this fund are invested in common stocks, convertible
preferred stocks and bonds, including convertible bonds. The fund may also
invest, subject to specific percentage limitations, in warrants, options,
restricted securities, the securities of foreign issuers and in the
securities of other investment companies. The fund may also, subject to
specific percentage limitations, engage in short selling and in leveraging.
2. FIDELITY BLUE CHIP GROWTH FUND
Assets included in this fund are mainly invested in common stocks of well-
known and established companies.
6
<PAGE>
3. KEMPER GROWTH FUND - A
Assets included in this fund are principally invested in common stocks of
companies with above average growth prospects, but may also be invested in
convertible securities such as bonds and preferred stock.
4. WARBURG PINCUS GROWTH & INCOME FUND
Assets included in this fund are invested primarily in equity securities,
including common stock, securities that are convertible into common stock
and readily marketable securities, such as rights and warrants, which
derive their value from common stock.
5. KEMPER TOTAL RETURN FUND - A
Assets included in this fund are invested in bonds, debt securities,
preferred stocks and equity securities seeking a combination of income and
capital appreciation.
6. FIDELITY PURITAN FUND
Assets included in this fund are invested in a broadly diversified
portfolio of high-yielding securities, such as common stocks, preferred
stocks, and bonds.
7. FIDELITY SPARTAN MONEY MARKET FUND
Assets included in this fund are invested in high-quality, short-term money
market securities of all types.
8. BERWYN INCOME FUND, INC.
Assets included in this fund are invested in fixed income corporate debt
securities, preferred stocks, securities issued or guaranteed by the U.S.
Government, and common stocks paying cash dividends. The fixed income
corporate debt securities in which the fund will invest will be bonds,
debentures and corporate notes.
9. WARBURG PINCUS INTERNATIONAL EQUITY FUND
Assets included in this fund are invested primarily in equity securities of
companies that have their principal business activities and interests
outside the United States.
10. KEMPER INTERNATIONAL FUND - A
Assets included in this fund are invested in an internationally diversified
portfolio of equity securities, principally non-U.S. issuers.
11. KEMPER INCOME AND CAPITAL PRESERVATION FUND - A
Assets included in this fund are invested in investment grade debt
securities.
12. KEMPER UNITED STATES (U.S.) GOVERNMENT SECURITIES FUND - A
Assets included in this fund are invested in obligations issued or
guaranteed by the U.S. Government or its agencies.
LOANS
The Plan provides for loans to participants in hardship situations and for
the purchase of a primary residence. The loan repayment terms and interest
rates are approved by the Plan Trustee. These loans reduce participant
investments in their respective selected Investment Funds.
WITHDRAWALS
The Plan provides that a participant may receive a distribution only in the
following circumstances: (1) the participant attains age 70-1/2, (2) the
participant retires, (3) the participant separates from the Company, (4) the
participant dies, (5) the participant becomes disabled, (6) the participant
encounters a financial hardship as specified in the Plan, or (7) there is a
Qualified Domestic Relations Order issued by a court against the participant.
7
<PAGE>
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements of the Plan are presented on the accrual basis of
accounting.
INVESTMENT VALUATION AND INCOME
Quoted market prices are used to value investments. Realized gains and
losses, interest income and dividends are reflected as investment income,
while unrealized gains and losses are reflected as net appreciation
(depreciation) in the Statement of Changes in Net Assets Available for Plan
Benefits. Realized gains and losses resulting from the sale of securities are
based on the difference between the selling price and the cost of the
securities, cost being determined on an average cost basis. Unrealized gains
and losses are based on the difference between the market value and the cost
of the securities, cost being determined on an average cost basis.
EXPENSES OF THE PLAN
The Company has paid expenses incurred by the Plan Administrator or Trustee
in the administration of the Plan. The Company may elect, at any time, to
charge Plan administration expenses to the Plan.
NOTE 3 - DUE PARTICIPANTS
EXCESS CONTRIBUTIONS
Amounts due participants presented in the Statement of Net Assets Available
for Plan Benefits consist of excess contribution amounts to be refunded to
participants, as a result of discrimination testing set forth in the IRC.
BENEFIT DISTRIBUTIONS
In accordance with authoritative guidance for accounting and disclosure by
employee benefit plans, participant distributions payable at year-end are not
presented as a liability in the Statement of Net Assets or included in
benefit payments in the Statement of Changes in Net Assets, resulting in a
difference between the Plan's Form 5500 and the accompanying financial
statements. Benefit payment obligations existing at December 31, 1996 and
1995 were $115,446 and $0, respectively.
NOTE 4 - PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right to
discontinue its contributions at any time and to terminate the Plan subject
to the provisions of the Employee Retirement Income Security Act of 1974. In
the event of termination, the Plan's assets will be distributed to
participants in accordance with the Plan's provisions.
NOTE 5 - TAX STATUS
Prior to August 1, 1995, the Plan was a standardized prototype plan and,
thus, the Plan relied on the Internal Revenue Service (IRS) opinion letter
issued to the sponsor of the prototype plan. Effective August 1, 1995, the
Plan was restated as an individually designed plan and an application for
determination with respect to the new Plan document was filed with the IRS.
The Company has received a favorable determination letter for the Plan from
the IRS dated June 20, 1997. Consequently, no provision for income taxes has
been made in the accompanying financial statements.
NOTE 6 - PLAN CHANGES EFFECTIVE AFTER DECEMBER 31, 1996
On December 20, 1996, the Board of Directors of CCC Information Services
Group Inc. (CCCISG) (the Company's parent company) authorized the following
changes to the Plan:
CONTRIBUTIONS
Effective April 1, 1997, the Company match of participant contributions was
increased from 33% to 50%, limited to an annual maximum of $1,000 per
participant.
8
<PAGE>
INVESTMENT FUNDS
CCCISG's stock was added as an option to the available investment funds.
Participants will be able to invest up to 25% of their current elective
contributions and Company's matching contributions in CCCISG's stock, subject
to the effectiveness of a registration statement with the Securities and
Exchange Commission.
9
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE I
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
ITEM 27(a) SCHEDULES HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1996
IDENTITY OF ISSUE, BORROWER, DESCRIPTION OF CURRENT
LESSOR, OR SIMILAR PARTY INVESTMENTS COST VALUE
---------------------------- -------------- ---- -------
<S> <C> <C> <C>
344,909 Shares of The Kaufmann Mutual Fund $1,851,015 $2,014,269
Fund, Inc.
*1 54,518 Shares of Fidelity Blue Mutual Fund 1,751,174 1,782,188
Chip Growth Fund
126,023 Shares of Kemper Mutual Fund 1,845,961 1,644,604
Growth Fund - A
47,358 Shares of Warburg Pincus Mutual Fund 759,604 717,471
Growth & Income Fund
57,219 Shares of Kemper Mutual Fund 587,998 576,772
Total Return Fund - A
*1 27,886 Shares of Fidelity Mutual Fund 474,140 480,762
Puritan Fund
*1 454,183 Shares of Fidelity Spartan Mutual Fund 454,183 454,183
Money Market Fund
24,727 Shares of The Berwyn Mutual Fund 304,537 304,389
Income Fund, Inc.
14,000 Shares of Warburg Pincus Mutual Fund 281,526 291,759
International Equity Fund
19,438 Shares of Kemper Mutual Fund 215,864 229,568
International Fund - A
22,824 Shares of Kemper Income Mutual Fund 193,135 192,639
and Capital Preservation Fund - A
19,959 Shares of Kemper U.S. Mutual Fund 174,922 172,447
Government Securities Fund - A
*1 Plan Participants Participant Loans *2 144,274 144,274
---------- ----------
Total $9,038,333 $9,005,325
========== ==========
</TABLE>
*1 - Denotes party-in-interest.
*2 - Interest rates range from 7.75% to 10.30%.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE II
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS & INVESTMENT PLAN
ITEM 27(d) - SCHEDULE OF REPORTABLE TRANSACTIONS*1
YEAR ENDED DECEMBER 31, 1996
CURRENT
EXPENSE VALUE OF
INCURRED ASSET ON
IDENTITY OF PURCHASE SELLING LEASE WITH COST OF TRANSACTION NET GAIN
PARTY INVOLVED DESCRIPTION OF ASSET PRICE PRICE RENTAL TRANSACTION ASSET DATE (LOSS)
-------------- -------------------- -------- ------- ------ ----------- ------- ----------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
The Kaufmann Fund, Inc. Purchased 243,814 shares of
The Kaufmann Fund, Inc. $1,392,999 $ - $ - $ - $1,392,999 $1,392,999 $ -
The Kaufmann Fund, Inc. Sold 92,885 shares of
The Kaufmann Fund, Inc. - 525,155 - - 507,485 525,155 17,670
Kemper Service Company Purchased 63,900 shares of
Kemper Growth Fund - A 899,034 - - - 899,034 899,034 -
Kemper Service Company Sold 28,411 shares of
Kemper Growth Fund - A - 455,005 - - 433,406 455,005 21,599
*2 Fidelity Funds Network Purchased 27,824 shares of
Fidelity Blue Chip Growth
Fund 866,026 - - - 866,026 866,026 -
Warburg Pincus Growth & Purchased 23,296 shares of
Income Fund Warburg Pincus Growth &
Income Fund 362,235 - - - 362,235 362,235 -
</TABLE>
*1 - Transactions or series of transactions which total five percent of the
current value of plan assets at the beginning of the plan year are
included as reportable transactions.
*2 - Denotes party-in-interest.
<PAGE>
CCC INFORMATION SERVICES GROUP INC.
AND SUBSIDIARIES
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Trustee has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: July 25, 1997 CCC Information Services Group Inc.
By: /s/Richard W. Steel
-----------------------------------
Name: Richard W. Steel
Title: Vice President Human Resources
and Plan Trustee
<PAGE>
EXHIBIT 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 of CCC Information Services Group Inc. of our report
dated June 25, 1997 appearing on page 1 of the Annual Report of CCC
Information Services Inc. 401(k) Retirement Savings & Investment Plan for the
year ended December 31, 1996.
Price Waterhouse LLP
Chicago, Illinois
July 23, 1997
