<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, 1997
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
<PAGE>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of
CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS AND
INVESTMENT PLAN
FINANCIAL STATEMENTS AND
ADDITIONAL INFORMATION
YEARS ENDED DECEMBER 31, 1997 AND 1996
<PAGE>
CCC INFORMATION SERVICES INC.
(A Wholly-Owned Subsidiary of CCC Information Services Group Inc.)
401(k) RETIREMENT SAVINGS AND INVESTMENT PLAN
FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page(s)
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<S> <C>
Report of Independent Accountants 1
Financial Statements:
Statements of Net Assets Available for Plan Benefits, with
Fund Information - December 31, 1997 and 1996 2-3
Statements of Changes in Net Assets Available for Plan Benefits,
with Fund Information - Years Ended December 31, 1997 and 1996 4-5
Notes to Financial Statements 6-9
Additional Information:
Schedule of Assets Held for Investment Purposes - December 31, 1997 Schedule I
Schedule of Reportable Transactions - Year Ended December 31, 1997 Schedule II
</TABLE>
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
October 12, 1998
To the Participants and Administrator of
CCC Information Services Inc.
401(k) Retirement Savings and 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 and
Investment Plan (Plan) at December 31, 1997 and 1996, 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 the Department of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of 1974. These
supplemental schedules are the responsibility of the Plan's Management. 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.
PRICEWATERHOUSECOOPERS LLP
Chicago, Illinois
<PAGE>
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, 1997
<TABLE>
<CAPTION>
Fund Information
--------------------------------------------------------------------------------------------
Warburg Fidelity
Fidelity Pincus Kemper Spartan
The Blue Chip Kemper Growth & Total Fidelity Money
Kaufman Growth Growth Income Return Puritan Market
Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund
----------- ----------- ----------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Investments at fair market value $ 3,009,420 $ 3,166,525 $ 1,668,491 $ 1,053,156 $ 542,138 $ 842,156 $ 249,688
Principal loan balance - - - - - - -
Contribution receivable
Employee 24,780 24,365 7,124 7,360 2,195 7,109 1,516
Employer 2,549 2,287 913 747 375 530 325
----------- ----------- ----------- ----------- --------- --------- ---------
Net assets available for
plan benefits $ 3,036,749 $ 3,193,177 $ 1,676,528 $ 1,061,263 $ 544,708 $ 849,795 $ 251,529
----------- ----------- ----------- ----------- --------- --------- ---------
----------- ----------- ----------- ----------- --------- --------- ---------
<CAPTION>
Fund Information
-------------------------------------------------------------------------------------------------
Warburg Kemper Kemper
Pincus Income U.S. CCC
Berwyn International Kemper and Capital Government Info. Svs. Principal
Income Equity International Preservation Securities Group Inc. Loan
Fund, Inc. Fund Fund - A Fund - A Fund - A Stock Balance Total
---------- ---------- ------------- ----------- ------------ ---------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Investments at fair market value $ 377,228 $ 312,923 $ 314,611 $ 141,993 $ 184,383 $ 396,699 $ - $12,259,411
Principal loan balance - - - - - - 170,089 170,089
Contribution receivable
Employee 3,079 3,535 2,230 1,208 1,064 4,118 (2,991) 86,692
Employer 257 389 205 235 134 678 - 9,624
--------- --------- --------- --------- --------- --------- --------- -----------
Net assets available for
plan benefits $ 380,564 $ 316,847 $ 317,046 $ 143,436 $ 185,581 $ 401,495 $ 167,098 $12,525,816
--------- --------- --------- --------- --------- --------- --------- -----------
--------- --------- --------- --------- --------- --------- --------- -----------
</TABLE>
The accompanying notes are an integral part of this statement.
-2-
<PAGE>
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
<TABLE>
<CAPTION>
Fund Information
----------------------------------------------------------------------------------------------
Warburg Fidelity
Fidelity Pincus Kemper Spartan
The Blue Chip Kemper Growth & Total Fidelity Money Berwyn
Kaufman Growth Growth Income Return Puritan Market Income
Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund Fund, Inc.
----------- ----------- ----------- --------- --------- --------- --------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Investments at fair market value $ 2,014,269 $ 1,782,188 $ 1,644,604 $ 717,471 $ 576,772 $ 480,762 $ 454,183 $ 304,389
Principal loan balance - - - - - - - -
Contribution receivable
Employee 15,428 15,115 7,468 6,760 2,646 4,011 2,304 2,183
Employer 2,273 1,703 1,289 668 587 493 342 373
----------- ----------- ----------- --------- --------- --------- --------- ---------
Total assets $ 2,031,970 $ 1,799,006 $ 1,653,361 $ 724,899 $ 580,005 $ 485,266 $ 456,829 $ 306,945
----------- ----------- ----------- --------- --------- --------- --------- ---------
----------- ----------- ----------- --------- --------- --------- --------- ---------
Amounts due participants
Net assets available for
plan benefits
<CAPTION>
Fund Information
---------------------------------------------------------------------------------------------
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 Total
------------ ------------- ------------ ----------- ----------- ------- --------------
<S> <C> <C> <C> <C> <C> <C> <C>
Investments at fair market value $ 291,759 $ 229,568 $ 192,639 $ 172,447 $ - $ - $ 8,861,051
Principal loan balance - - - - 144,274 - 144,274
Contribution receivable
Employee 2,553 1,914 879 1,233 (2,343) - 60,151
Employer 222 199 165 152 - - 8,466
--------- --------- --------- --------- --------- -------- -----------
Total assets $ 294,534 $ 231,681 $ 193,683 $ 173,832 $ 141,931 - 9,073,942
--------- --------- --------- --------- ---------
--------- --------- --------- --------- ---------
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 this statement.
-3-
<PAGE>
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, 1997
<TABLE>
<CAPTION>
Fund Information
---------------------------------------------------------------------------------------
Warburg Fidelity
Fidelity Pincus Kemper Spartan
The Blue Chip Kemper Growth & Total Fidelity Money
Kaufman Growth Growth Income Return Puritan Market
Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund
----------- ------------ ------------ ------------ --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Source of net assets:
Contributions
Employee $ 710,907 $ 627,834 $ 210,152 $ 190,114 $ 70,904 $153,565 $ 63,197
Employer 141,167 127,986 53,238 40,561 19,607 33,779 13,985
Loan Repayments 17,023 18,369 7,441 4,658 2,698 5,919 2,207
Interest and dividend 92,191 148,800 228,047 168,180 86,320 62,562 15,162
Interest on participant loans - - - - - - -
Net appreciation (depreciation)
in fair value of investments 236,603 445,228 (640) 72,917 (1,262) 65,194 -
----------- ----------- ------------ ------------ --------- -------- -----------
Total sources 1,197,891 1,368,217 498,238 476,430 178,267 321,019 94,551
----------- ----------- ------------ ------------ --------- -------- -----------
Application of net assets:
Withdrawals (205,484) (257,586) (108,844) (147,754) (53,504) (47,157) (242,277)
Loans to participants (16,095) (21,718) (18,445) (4,111) (7,493) (3,496) (11,896)
----------- ----------- ------------ ------------ --------- -------- -----------
Total applications (221,579) (279,304) (127,289) (151,865) (60,997) (50,653) (254,173)
----------- ----------- ------------ ------------ --------- -------- -----------
Interfund transfers, net 28,467 305,258 (347,782) 11,799 (152,567) 94,163 (45,678)
----------- ----------- ------------ ------------ --------- -------- -----------
Increase (decrease) in net assets
during the year 1,004,779 1,394,171 23,167 336,364 (35,297) 364,529 (205,300)
Net assets available for plan benefits:
Beginning of the year 2,031,970 1,799,006 1,653,361 724,899 580,005 485,266 456,829
----------- ----------- ------------ ------------ --------- -------- -----------
End of the year $ 3,036,749 $ 3,193,177 $ 1,676,528 $ 1,061,263 $ 544,708 $849,795 $ 251,529
----------- ----------- ------------ ------------ --------- -------- -----------
----------- ----------- ------------ ------------ --------- -------- -----------
<CAPTION>
Fund Information
------------------------------------------------------------------------------
Warburg Kemper Kemper
Pincus Income U.S. CCC
Berwyn International Kemper and Capital Government Info. Svs.
Income Equity International Preservation Securities Group Inc.
Fund, Inc. Fund Fund - A Fund - A Fund - A Stock
----------- ------------- ------------- ----------- ------------ ----------
<S> <C> <C> <C> <C> <C> <C>
Source of net assets:
Contributions
Employee $ 76,739 $ 85,657 $ 60,969 $ 25,936 $ 25,451 $ 70,207
Employer 18,752 18,083 12,427 7,273 7,838 16,491
Loan Repayments 1,104 3,783 592 840 895 1,304
Interest and dividend 38,529 44,330 15,210 9,382 11,428 -
Interest on participant loans - - - - - -
Net appreciation (depreciation)
in fair value of investments 2,516 (62,222) 2,603 1,384 2,029 94,607
----------- ----------- ---------- ---------- -------- --------
Total sources 137,640 89,631 91,801 44,815 47,641 182,609
----------- ----------- ---------- ---------- -------- --------
Application of net assets:
Withdrawals (21,795) (36,836) (35,835) (25,681) (20,313) (1,393)
Loans to participants (6,518) (2,629) (1,163) (2,933) (1,087) -
----------- ----------- ---------- ---------- -------- --------
Total applications (28,313) (39,465) (36,998) (28,614) (21,400) (1,393)
----------- ----------- ---------- ---------- -------- --------
Interfund transfers, net (35,708) (27,853) 30,562 (66,448) (14,492) 220,279
----------- ----------- ---------- ---------- -------- --------
Increase (decrease) in net assets
during the year 73,619 22,313 85,365 (50,247) 11,749 401,495
Net assets available for plan benefits:
Beginning of the year 306,945 294,534 231,681 193,683 173,832 -
----------- ----------- ---------- ---------- -------- --------
End of the year $ 380,564 $ 316,847 $317,046 $ 143,436 $185,581 $401,495
----------- ----------- ---------- ---------- -------- --------
----------- ----------- ---------- ---------- -------- --------
<CAPTION>
Fund Information
--------------------------------------
Principal
Loan
Balance Other Total
----------- ------------ ------------
<S> <C> <C> <C>
Source of net assets:
Contributions
Employee $ - $ - $ 2,371,632
Employer - - 511,187
Loan Repayments (66,833) - -
Interest and dividend - - 920,141
Interest on participant loans 13,036 - 13,036
Net appreciation (depreciation)
in fair value of investments - - 858,957
----------- ------------ ------------
Total sources (53,797) - 4,674,953
----------- ------------ ------------
Application of net assets:
Withdrawals (18,620) 58,372 (1,164,707)
Loans to participants 97,584 - -
----------- ------------ ------------
Total applications 78,964 58,372 (1,164,707)
----------- ------------ ------------
Interfund transfers, net - - -
----------- ------------ ------------
Increase (decrease) in net assets
during the year 25,167 58,372 3,510,246
Net assets available for plan benefits:
Beginning of the year 141,931 (58,372) 9,015,570
----------- ------------ ------------
End of the year $ 167,098 $ - $ 12,525,816
----------- ------------ ------------
----------- ------------ ------------
</TABLE>
The accompanying notes are an integral part of this statement.
-4-
<PAGE>
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
<TABLE>
<CAPTION>
Fund Information
--------------------------------------------------------------------------------------
Warburg Fidelity
Fidelity Pincus Kemper Spartan
The Blue Chip Kemper Growth & Total Fidelity Money
Kaufman Growth Growth Income Return Puritan Market
Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund
----------- ------------ ------------ ------------ --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
Source of net assets:
Contributions
Employee $ 546,435 $ 551,461 $ 264,349 $ 272,801 $ 85,120 $ 105,885 $ 101,165
Employer 86,504 93,053 46,872 43,668 18,868 21,969 14,742
Loan repayments 12,831 15,853 6,053 4,204 2,317 5,346 4,360
Interest and dividends 94,128 117,572 371,794 2,575 81,884 51,653 21,152
Interest from participant loans - - - - - - -
Net appreciation (depreciation)
in fair value of investments 166,081 98,988 (155,085) (15,237) 1,077 6,750 -
----------- ----------- ----------- ----------- --------- --------- ---------
Total sources 905,979 876,927 533,983 308,011 189,266 191,603 141,419
----------- ----------- ----------- ----------- --------- --------- ---------
Application of net assets:
Withdrawals (139,740) (105,947) (179,493) (53,995) (89,564) (52,269) (229,306)
Loans to participants (30,681) (26,135) (19,534) (6,291) (4,208) (8,899) (1,808)
----------- ----------- ----------- ----------- --------- --------- ---------
Total applications (170,421) (132,082) (199,027) (60,286) (93,772) (61,168) (231,114)
----------- ----------- ----------- ----------- --------- --------- ---------
Interfund transfers, net 316,811 (53,230) (36,880) (98,887) (50,082) 31,193 (12,085)
----------- ----------- ----------- ----------- --------- --------- ---------
Increase (decrease) in net assets
during the year 1,052,369 691,615 298,076 148,838 45,412 161,628 (101,780)
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
----------- ----------- ----------- ----------- --------- --------- ---------
End of year $ 2,031,970 $ 1,799,006 $ 1,653,361 $ 724,899 $ 580,005 $ 485,266 $ 456,829
----------- ----------- ----------- ----------- --------- --------- ---------
----------- ----------- ----------- ----------- --------- --------- ---------
<CAPTION>
Fund Information
-------------------------------------------------------------------
Warburg Kemper Kemper
Pincus Income U.S.
Berwyn International Kemper and Capital Government
Income Equity International Preservation Securities
Fund, Inc. Fund Fund - A Fund - A Fund - A
----------- ------------- ------------- ----------- ------------
<S> <C> <C> <C> <C> <C>
Source of net assets:
Contributions
Employee $ 70,423 $ 103,721 $ 44,616 $ 33,779 $ 34,905
Employer 13,788 14,290 9,474 7,506 8,537
Loan repayments 1,039 2,421 716 545 995
Interest and dividends 27,130 11,677 14,486 12,632 13,945
Interest from participant loans - - - - -
Net appreciation (depreciation)
in fair value of investments 8,776 13,930 15,569 (9,898) (8,819)
----------- ----------- ----------- ----------- -----------
Total sources 121,156 146,039 84,861 44,564 49,563
----------- ----------- ----------- ----------- -----------
Application of net assets:
Withdrawals (30,480) (27,501) (31,013) (14,367) (32,160)
Loans to participants (421) (7,266) (1,789) (3,087) (1,626)
----------- ----------- ----------- ----------- -----------
Total applications (30,901) (34,767) (32,802) (17,454) (33,786)
----------- ----------- ----------- ----------- -----------
Interfund transfers, net (28,612) (17,582) 26,406 (31,180) (45,872)
----------- ----------- ----------- ----------- -----------
Increase (decrease) in net assets
during the year 61,643 93,690 78,465 (4,070) (30,095)
Net assets available for plan benefits:
Beginning of the year 245,302 200,844 153,216 197,753 203,927
----------- ----------- ----------- ----------- -----------
End of year $ 306,945 $ 294,534 $ 231,681 $ 193,683 $ 173,832
----------- ----------- ----------- ----------- -----------
----------- ----------- ----------- ----------- -----------
<CAPTION>
Fund Information
---------------------------------------
Principal
Loan
Balance Other Total
----------- ------------ ------------
<S> <C> <C> <C>
Source of net assets:
Contributions
Employee $ - $ - $ 2,214,660
Employer - - 379,271
Loan repayments (56,680) - -
Interest and dividends - - 820,628
Interest from participant loans 10,849 - 10,849
Net appreciation (depreciation)
in fair value of investments - - 122,132
----------- ----------- -----------
Total sources (45,831) - 3,547,540
----------- ----------- -----------
Application of net assets:
Withdrawals (14,842) (384) (1,001,061)
Loans to participants 111,745 - -
----------- ----------- -----------
Total applications 96,903 (384) (1,001,061)
----------- ----------- -----------
Interfund transfers, net - - -
----------- ----------- -----------
Increase (decrease) in net assets
during the year 51,072 (384) 2,546,479
Net assets available for plan benefits:
Beginning of the year 90,859 (57,988) $ 6,469,091
----------- ----------- -----------
End of year $ 141,931 ($ 58,372) $ 9,015,570
----------- ----------- -----------
----------- ----------- -----------
</TABLE>
The accompanying notes are an integral part of this statement
-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.
THIRD PARTY ADMINISTRATOR AND CUSTODIAN
The Benefit Center, Inc. and Fidelity Funds Network perform third party
administrator and custodial duties, respectively.
PARTICIPATION AND VESTING
Employees who have completed at least six months of service and attained the
age of 20 are eligible to participate in the Plan. Participants are 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 33% of participant contributions was
increased to 50%, effective April 1, 1997 and is limited to an annual maximum
of $1,000 per participant.
INVESTMENT FUNDS
1. THE KAUFMANN FUND, INC.
Funds are invested in shares of a registered investment company that
invests 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
Funds are invested in shares of a registered investment company that
invests in common stocks of well-known and established companies.
3. KEMPER GROWTH FUND - A
Funds are invested in shares of a registered investment company that
invests in common stocks of companies with above average growth prospects,
but may also be invested in convertible securities such as bonds and
preferred stock.
-6-
<PAGE>
4. WARBURG PINCUS GROWTH & INCOME FUND
Funds are invested in shares of a registered investment company that
invests 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
Funds are invested in shares of a registered investment company that
invests in bonds, debt securities, preferred stocks and equity securities
seeking a combination of income and capital appreciation.
6. FIDELITY PURITAN FUND
Funds are invested in shares of a registered investment company that
invests in a broadly diversified portfolio of high-yielding securities,
such as common stocks, preferred stocks, and bonds.
7. FIDELITY SPARTAN MONEY MARKET FUND
Funds are invested in shares of a registered investment company that
invests in high-quality, short-term money market securities of all types.
8. BERWYN INCOME FUND, INC.
Funds are invested in shares of a registered investment company that
invests 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
Funds are invested in shares of a registered investment company that
invests in equity securities of companies that have their principal
business activities and interests outside the United States.
10. KEMPER INTERNATIONAL FUND - A
Funds are invested in shares of a registered investment company that
invests in an internationally diversified portfolio of equity securities,
principally non-U.S. issuers.
11. KEMPER INCOME AND CAPITAL PRESERVATION FUND - A
Funds are invested in shares of a registered investment company that
invests in investment grade debt securities.
12. KEMPER UNITED STATES (U.S.) GOVERNMENT SECURITIES FUND - A
Funds are invested in shares of a registered investment company that
invests in obligations issued or guaranteed by the U.S. Government or its
agencies.
13. CCC INFORMATION SERVICES GROUP INC. STOCK
Funds are invested in the common stock of CCC Information Services Group
Inc. (CCCISG). Participants are able to invest up to 25% of their total
contribution in CCCISG stock.
Enrollment in the Plan and changes in the amount of participant contributions
were initially effective on a quarterly basis, starting January 1. Effective
May 1, 1997 these changes take effect only on February 1, May 1, August 1 or
November 1. Participants may change the allocation of their contributions at
any time.
LOANS
The Plan provides for loans to participants in hardship situations and for
the purchases of their 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.
Principal and interest are paid ratably through monthly payroll deductions.
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 prepared under the accrual method of
accounting.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts in assets, liabilities and changes therein. Actual
results could differ from those estimates.
INVESTMENT VALUATION AND INCOME
The Plan's investments are stated at fair value. Shares of registered
investments companies, as well as the CCCISG stock are valued at quoted market
prices. Participant loans are valued at face value, which approximates fair
value. Purchases and sales of securities are recorded on a trade-date basis.
Interest income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date. Certain accounts have been reclassified for the year ended
December 31, 1996 to conform with the current year financial statement
presentation.
PAYMENT OF BENEFITS
Benefits are recorded when paid.
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 TO PARTICIPANTS
EXCESS CONTRIBUTIONS
Amounts due participants presented in the Statement of Net Assets Available
for Plan Benefits as of December 31, 1996 consisted of excess contribution
amounts to be refunded to participants, as a result of discrimination testing
set forth in the IRC. For the year ended December 31, 1997, no excess
contributions were refundable to participants at year-end.
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.
-8-
<PAGE>
NOTE 5 - RECONCILIATION OF FINANCIAL STATEMENTS TO THE FORM 5500
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 payments obligations existing at December 31, 1997 and
1996 were $0 and $115,446 respectively.
The following is a reconciliation of the net assets available for benefits
per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
December 31,
1997 1996
----------- -----------
<S> <C> <C>
Net assets available for benefits per the financial statements $12,525,816 $ 9,015,570
Amounts allocated to withdrawing participants - (115,446)
----------- -----------
Net assets available for benefits per the Form 5500 $12,525,816 $ 8,900,124
----------- -----------
----------- -----------
</TABLE>
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500:
<TABLE>
<CAPTION>
Year ended
December 31, 1997
-----------------
<S> <C>
Benefits paid per the financial statements $ 1,164,707
Add: Amounts allocated to withdrawing participants
at December 31, 1997 -
Less: Amounts allocated to withdrawing participants
at December 31, 1996 (115,446)
-----------
Benefits paid to participants per the Form 5500 $ 1,049,261
-----------
-----------
</TABLE>
NOTE 6 - 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. The Internal Revenue Service has
determined and informed the Company by a letter dated June 20, 1997, that the
Plan are designed in accordance with applicable sections of the IRC. The Plan
has been amended since receiving the determination letter. However, the Plan
administrator and the Plan's counsel believe that the Plan is designed and is
currently be operated in compliance with the applicable requirements of the
IRC. Consequently, no provision for income taxes has been made in the
accompanying financial statements.
-9-
<PAGE>
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) SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1997
<TABLE>
<CAPTION>
Identity of Issue, Borrower, Description of Current
Lessor, or Similar Party Investments Cost Value
--------------------------- -------------- ----------- -----------
<S> <C> <C> <C>
472,436 Shares of The Kaufman
Fund, Inc. Mutual Fund $ 2,659,993 $ 3,009,420
*1 80,246 Shares of Fidelity Blue
Chip Growth Fund Mutual Fund 2,742,719 3,166,525
127,463 Shares of Kemper
Growth Fund - A Mutual Fund 1,827,965 1,668,491
63,905 Shares of Warburg Pincus
Growth & Income Fund Mutual Fund 1,038,045 1,053,156
53,677 Shares of Kemper
Total Return Fund - A Mutual Fund 555,614 542,138
*1 43,454 Shares of Fidelity
Puritan Fund Mutual Fund 778,395 842,156
*1 249,688 Shares of Fidelity Spartan
Money Market Fund Mutual Fund 249,688 249,688
30,154 Shares of The Berwyn
Income Fund, Inc. Mutual Fund 377,014 377,228
18,396 Shares of Warburg
Pincus International Fund - A Mutual Fund 370,596 312,923
25,725 Shares of Kemper
International Fund - A Mutual Fund 306,909 314,611
16,568 Shares of Kemper Income
and Capital Preservation Fund - A Mutual Fund 140,065 141,993
21,024 Shares of Kemper U.S.
Government Securities Fund - A Mutual Fund 184,091 184,383
*1 20,086 Shares of CCC Information
Services Group Inc. Stock Common Stock 309,439 396,699
*1 Plan Participants Participant Loans*2 - 170,089
----------- -----------
Total $11,540,533 $12,429,500
----------- -----------
----------- -----------
</TABLE>
*1 - Denotes party-in-interest
*2 - Interest rates range from 7.75% to 10.30%
<PAGE>
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
DECEMBER 31, 1997
<TABLE>
<CAPTION>
Identity of Party Involved Description of Asset Purchase Selling Lease Expense Cost of Current Net Gain
- -------------------------- --------------------- Price Price Rental Incurred Asset Value of (Loss)
---------- -------- ------ with ---------- Asset on --------
Transaction Transaction
----------- Date
-----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
The Kaufman Fund, Inc. Purchased 216,672 $1,297,461 $ - $ - $ - $1,297,461 $1,297,461 $ -
shares of The Kaufman
Fund, Inc.
The Kaufman Fund, Inc. Sold 89,144 shares of - 538,913 - - 520,604 538,913 18,309
The Kaufman Fund,
Inc.
Kemper Growth Purchased 42,565 shares 567,507 - - - 567,507 567,507 -
of Kemper Growth
Fund - A
Kemper Growth Sold 41,125 shares of - 542,980 - - 536,682 542,980 6,298
Kemper Growth
Fund - A
Fidelity Blue Chip Purchased 38,753 shares 1,421,286 - - - 1,421,286 1,421,286 -
of Fidelity Blue Chip
Growth Fund
Fidelity Blue Chip Sold 13,022 shares of - 482,178 - - 425,750 482,178 56,428
Fidelity Blue Chip
Growth Fund
Warburg Pincus Growth Purchased 37,531 shares 616,325 - - - 616,325 616,325 -
& Income Fund of Warburg Pincus
Growth & Income
Fund
</TABLE>
*1 Transaction 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.
<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: November 20, 1998 CCC Information Services Group Inc.
By: /s/Mary Kay Duncan
----------------------------------
Name: Mary Kay Duncan
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 (No. 333-32139) of CCC Information Services Group Inc. of
our report dated October 12, 1998 appearing in the Annual Report of the CCC
Information Services Inc. 401(k) Retirement Savings & Investment Plan on Form
11-K for the year ended December 31, 1997.
PRICEWATERHOUSECOOPERS LLP
Chicago, Illinois
November 20,1998
