<PAGE> 1
- --------------------------------------------------------------------------------
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, 1998
OR
( ) TRANSITION REPORT PURSUANT TO 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from .......... to..........
Commission file number 1-4879
--------
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN
- --------------------------------------------------------------------------------
FOR NEWARK HOURLY EMPLOYEES
---------------------------
(Full title of the plan)
Diebold, Incorporated 5995 Mayfair Road P.O. Box 3077 North Canton,
-------------------------------------------------------------------
Ohio 44720-8077
---------------
(Name of issuer of the securities held by the plan and the address of its
principal executive office)
<PAGE> 2
REQUIRED INFORMATION
Audited plan financial statements and schedules prepared in
accordance with the financial reporting requirements of the
Employee Retirement Income Security Act of 1974, as amended, are
filed herewith in lieu of the requirements of an audited statement
of financial condition and statement of income and changes in plan
equity.
Financial Statements and Exhibits
---------------------------------
A) The following financial statements and schedules are filed
as part of this annual report:
1) Statement of Net Assets Available for Benefits (with
Fund Information) - December 31, 1998 and 1997
2) Statement of Changes in Net Assets Available for
Benefits (with Fund Information) - Year Ended December
31, 1998 and 1997
3) Notes to Financial Statements - December 31, 1998 and
1997
4) Schedule 1 - Line 27 a - Schedule of Assets Held for
Investment Purposes - December 31, 1998
5) Schedule 2a and 2b - Line 27 d - Schedule of
Reportable Transactions - Year Ended December 31, 1998
B) The following exhibit is filed as part of this annual report:
23. Consent of Independent Auditors
All other schedules required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974 have been omitted because
there is no information to report.
-2-
<PAGE> 3
INDEPENDENT AUDITORS' REPORT
The Plan Administrator and Participants
Diebold, Incorporated Retiree Medical Funding Plan for Newark Hourly Employees
We have audited the accompanying statements of net assets available for benefits
of Diebold, Incorporated Retiree Medical Funding Plan for Newark Hourly
Employees as of December 31, 1998 and 1997, and the related statements of
changes in net assets available for benefits for the years then ended. These
financial statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based on
our 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 available for benefits of the Diebold,
Incorporated Retiree Medical Funding Plan for Newark Hourly Employees as of
December 31, 1998 and 1997, and the changes in net assets available for benefits
for the year ended December 31, 1998 and 1997 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
statements of net assets available for benefits and the statements of changes in
net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for benefits and
changes in net assets available for benefits 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.
/s/KPMG LLP
KPMG LLP
Cleveland, Ohio
June 21, 1999
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<PAGE> 4
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS (WITH FUND INFORMATION)
DECEMBER 31, 1998
<TABLE>
<CAPTION>
PARTICIPANT DIRECTED
----------------------------------------------------------------
MANAGED COMPANY GROWTH EQUITY
INCOME STOCK COMPANY INDEX BALANCED
PORTFOLIO FUND FUND FUND FUND
------------- ----------- ---------- --------- ------------
<S> <C> <C> <C> <C> <C>
Assets:
Investments
Guaranteed Investment Contracts-
Fidelity Managed Income
Portfolio $ -- $ -- $ -- $ -- $ --
Equities -
Diebold Incorporated
Common Shares -- 414,980 -- -- --
Mutual funds -
Fidelity Mutual Funds -- -- -- -- --
Short-term investments -
Fidelity Retirement
Government Money Market -- -- -- -- --
Victory Financial Reserves Fund -- -- -- -- --
-------- --------- --------- --------- --------
Total investments -- 414,980 -- -- --
Cash 2,949 8,397 365 3,611 994
Accrued Income 311 23 -- 9 1
Accounts receivable 58,288 -- 269,216 152,353 95,956
-------- --------- --------- --------- --------
61,548 423,400 269,581 155,973 96,951
Accounts Payable -- -- -- -- --
-------- --------- --------- --------- --------
Net assets available for plan
benefits: $ 61,548 $ 423,400 $ 269,581 $ 155,973 $ 96,951
======== ========= ========= ========= ========
</TABLE>
<TABLE>
<CAPTION>
-----------------------------
INVESTMENT RETIREMENT TOTAL
GRADE BOND GOVERNMENT ALL FUNDS
FUND FUND
------------- -------------- ----------
<S> <C> <C> <C>
Assets:
Investments
Guaranteed Investment Contracts-
Fidelity Managed Income
Portfolio $ -- $ -- $ --
Equities -
Diebold Incorporated
Common Shares -- -- 414,980
Mutual funds -
Fidelity Mutual Funds 253 -- 253
Short-term investments -
Fidelity Retirement
Government Money Market -- -- --
Victory Financial Reserves Fund -- -- --
-------- -------- ----------
Total investments 253 -- 415,233
Cash 1,009 2,266 19,591
Accrued Income 254 5 603
Accounts receivable 52,284 81,481 709,578
-------- -------- ----------
53,800 83,752 1,145,005
Accounts Payable 253 -- 253
-------- -------- ----------
Net assets available for plan
benefits: $ 53,547 $ 83,752 $1,144,752
======== ======== ==========
</TABLE>
See accompanying notes to financial statements.
-4-
<PAGE> 5
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS (WITH FUND INFORMATION)
DECEMBER 31, 1997
<TABLE>
<CAPTION>
PARTICIPANT DIRECTED
-------------------------------------------------------------
MANAGED COMPANY GROWTH EQUITY
INCOME STOCK COMPANY INDEX BALANCED
PORTFOLIO FUND FUND FUND FUND
------------- ----------- ---------- --------- ------------
<S> <C> <C> <C> <C> <C>
Assets:
Investments
Guaranteed Investment Contracts-
Fidelity Managed Income
Portfolio $ 48,915 $ -- $ -- $ -- $ -
Equities -
Diebold Incorporated
Common Shares -- 470,964 -- -- -
Mutual funds -
Fidelity Mutual Funds -- -- 183,917 105,614 72,272
Short-term investments -
Fidelity Retirement
Government Money Market -- -- -- -- -
Victory Financial Reserves Fund 2,156 24,384 10,539 4,154 2,500
-------- --------- --------- --------- --------
Total investments 51,071 495,348 194,456 109,768 74,772
Accrued Income 250 80 32 11 6
-------- --------- --------- --------- --------
51,321 495,428 194,488 109,779 74,778
Accounts Payable 244 -- -- -- -
-------- --------- --------- --------- --------
Net assets available for plan
benefits: $ 51,077 $ 495,428 $ 194,488 $ 109,779 $ 74,778
======== ========= ========= ========= ========
</TABLE>
<TABLE>
<CAPTION>
----------------------------
INVESTMENT RETIREMENT TOTAL
GRADE BOND GOVERNMENT ALL FUNDS
FUND FUND
------------- -------------- ----------
<S> <C> <C> <C>
Assets:
Investments
Guaranteed Investment Contracts-
Fidelity Managed Income
Portfolio $ -- $ -- $ 48,915
Equities -
Diebold Incorporated
Common Shares -- -- 470,964
Mutual funds -
Fidelity Mutual Funds 44,677 -- 406,480
Short-term investments -
Fidelity Retirement
Government Money Market -- 68,361 68,361
Victory Financial Reserves Fund 1,890 3,349 48,972
-------- -------- ----------
Total investments 46,567 71,710 1,043,692
Accrued Income 237 320 936
-------- -------- ----------
46,804 72,030 1,044,628
Accounts Payable 232 311 787
-------- -------- ----------
Net assets available for plan
benefits: $ 46,572 $ 71,719 $1,043,841
======== ======== ==========
</TABLE>
See accompanying notes to financial statements.
-5-
<PAGE> 6
<TABLE>
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (WITH FUND INFORMATION)
DECEMBER 31, 1998
<CAPTION>
PARTICIPANT DIRECTED
--------------------------------------------------------------------
MANAGED COMPANY GROWTH EQUITY
INCOME STOCK COMPANY INDEX BALANCED
PORTFOLIO FUND FUND FUND FUND
------------ ----------- ----------- ---------- ------------
<S> <C> <C> <C> <C> <C>
Additions:
Contributions
Participant $ 8,570 $ 68,660 $ 34,000 $ 16,587 $ 10,245
Employer 2,507 20,598 10,267 4,930 3,123
-------- --------- --------- --------- --------
11,077 89,258 44,267 21,517 13,368
Investment income:
Registered Investment
Funds 3,243 387 18,816 2,925 9,335
Dividends -- 6,035 -- -- --
Net appreciation/(depreciation) in
the fair value of investments -- (145,249) 36,728 29,645 6,387
-------- --------- --------- --------- --------
3,243 (138,827) 55,544 32,570 15,722
-------- --------- --------- --------- --------
Total additions 14,320 (49,569) 99,811 54,087 29,090
Deductions:
Withdrawals (3,359) (28,361) (24,116) (6,081) (5,953)
-------- --------- --------- --------- --------
Excess of additions over 10,961 (77,930) 75,695 48,006 23,137
deductions
Transfers between funds (490) 5,902 (602) (1,812) (964)
Net assets available for plan
benefits:
Beginning of year 51,077 495,428 194,488 109,779 74,778
-------- --------- --------- --------- --------
End of year $ 61,548 $ 423,400 $ 269,581 $ 155,973 $ 96,951
======== ========= ========= ========= ========
</TABLE>
<TABLE>
<CAPTION>
----------------------------
INVESTMENT RETIREMENT TOTAL ALL
GRADE BOND GOVERNMENT FUNDS
FUND FUND
--------------- ------------ -----------
<S> <C> <C> <C>
Additions:
Contributions
Participant $ 6,919 $ 12,280 $ 157,261
Employer 2,077 3,987 47,489
-------- -------- -----------
8,996 16,267 204,750
Investment income:
Registered Investment
Funds 3,159 3,752 41,617
Dividends -- -- 6,035
Net appreciation/(depreciation) in
the fair value of investments 728 -- (71,761)
-------- -------- -----------
3,887 3,752 (24,109)
-------- -------- -----------
Total additions 12,883 20,019 180,641
Deductions:
Withdrawals (4,859) (7,001) (79,730)
-------- -------- ----------
Excess of additions over 8,024 13,018 100,911
deductions
Transfers between funds (1,049) (985) --
Net assets available for plan
benefits:
Beginning of year 46,572 71,719 1,043,841
-------- -------- -----------
End of year $ 53,547 $ 83,752 $ 1,144,752
======== ======== ===========
</TABLE>
See accompanying notes to financial statements.
-6-
<PAGE> 7
<TABLE>
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (WITH FUND INFORMATION)
DECEMBER 31, 1997
<CAPTION>
PARTICIPANT DIRECTED
------------------------------------------------------------------------
MANAGED COMPANY GROWTH EQUITY
INCOME STOCK COMPANY INDEX BALANCED
PORTFOLIO FUND FUND FUND FUND
------------ ----------- ----------- --------- ------------
<S> <C> <C> <C> <C> <C>
Additions:
Contributions
Participant $ 11,514 $ 84,626 $ 43,134 $ 19,627 $ 13,647
Employer 3,198 24,960 12,858 5,469 4,203
-------- --------- --------- --------- --------
14,712 109,586 55,992 25,096 17,850
Investment income:
Registered Investment
Funds 2,670 330 17,617 2,325 8,518
Dividends -- 4,086 -- -- --
Net appreciation in the fair value
of investments -- 88,684 8,613 22,899 4,429
-------- --------- --------- --------- --------
2,670 93,100 26,230 25,224 12,947
-------- --------- --------- --------- --------
Total additions 17,382 202,686 82,222 50,320 30,797
Deductions:
Withdrawals (2,923) (22,920) (7,677) (5,865) (2,628)
-------- --------- --------- --------- --------
Excess of additions over 14,459 179,766 74,545 44,455 28,169
deductions
Transfers between funds (4,723) 37,485 (8,500) (7,672) (5,698)
Net assets available for plan
benefits:
Beginning of year 41,341 278,177 128,443 72,996 52,307
-------- --------- --------- --------- --------
End of year $ 51,077 $ 495,428 $ 194,488 $ 109,779 $ 74,778
======== ========= ========= ========= ========
</TABLE>
<TABLE>
<CAPTION>
------------------------------
INVESTMENT RETIREMENT TOTAL ALL
GRADE BOND GOVERNMENT FUNDS
FUND FUND
--------------- -------------- -----------
<S> <C> <C> <C>
Additions:
Contributions
Participant $ 9,767 $ 17,611 $ 199,926
Employer 2,931 5,488 59,107
-------- -------- -----------
12,698 23,099 259,033
Investment income:
Registered Investment
Funds 2,601 3,221 37,282
Dividends -- -- 4,086
Net appreciation in the fair value
of investments 956 -- 125,581
-------- -------- -----------
3,557 3,221 166,949
-------- -------- -----------
Total additions 16,255 26,320 425,982
Deductions:
Withdrawals (2,858) (1,201) (46,072)
-------- -------- -----------
Excess of additions over 13,397 25,119 379,910
deductions
Transfers between funds (3,904) (6,988) --
Net assets available for plan
benefits:
Beginning of year 37,079 53,588 663,931
-------- -------- -----------
End of year $ 46,572 $ 71,719 $ 1,043,841
======== ======== ===========
</TABLE>
See accompanying notes to financial statements.
-7-
<PAGE> 8
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1998 AND 1997
(1) Description of the Plan
-----------------------
The following brief description of the Diebold, Incorporated Retiree
Medical Funding Plan for Newark Hourly Employees (the "Plan") provides only
general information. Participants should refer to the Plan document for a
more complete description of the Plan's provisions.
(a) General
-------
The Board of Directors of Diebold, Incorporated (the "Employer")
established this defined contribution plan effective as of August 16,
1994. The Plan covers all hourly employees of the Employer at the
Newark, Ohio facility who are represented by Local 710 of the
International Union of Electrical Workers, who have completed ninety
days of employment and have attained the age of twenty-one. The Plan
is subject to certain provisions of the Employee Retirement Income
Security Act of 1974 (ERISA).
(b) Contributions
-------------
For the years ended December 31, 1998 and 1997, the Plan allowed each
participant to contribute from one to three percent (in one percent
increments) of pre-tax compensation, but not in excess of the maximum
amount permitted by the Internal Revenue Code of 1986.
In 1998 and 1997, the Employer contributed as a Basic Matching
Contribution an amount equal to thirty percent of participant's
pre-tax contributions during each payroll period up to three percent
of the participant's compensation in such payroll period.
(c) Participants' Accounts
----------------------
The Employer, as the Plan administrator for the Plan, established two
separate accounts for each participant, a Regular Account and a
Retiree Medical Funding Account. All participant contributions are
deposited into the Regular Account and all Employer contributions are
deposited into the Retiree Medical Funding Account. Each participant
may direct that his or her contributions to the Regular Account as
well as all Employer contributions to the Retiree Medical Funding
Account be invested in the Managed Income Portfolio, the Company Stock
Fund, the Growth Company Fund, the Equity Index Portfolio, the
Balanced Fund, the Investment Grade Bond Fund, the Retirement
Government Money Market Fund, or any combination thereof with the
minimum investment in any fund/portfolio of ten percent.
(d) Vesting
-------
A participant's pre-tax contributions and earnings and the Employer's
pre-tax contributions and earnings are immediately vested and
nonforfeitable.
(e) Distribution of Benefits
------------------------
Upon termination of service with the Employer or affiliate, a
participant shall receive his or her total account balance in a lump
sum payment if such total account balance does not exceed $3,500.
Otherwise, the participant may elect to receive his or her total
account balance in a lump sum payment upon termination, defer receipt
until retirement date, or make a direct rollover to a qualified plan.
A participant entitled to a distribution may elect to receive the
portion of his or her lump sum distribution payable from the Company
Stock Fund in cash or Employer's stock.
-8-
<PAGE> 9
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
NOTES TO FINANCIAL STATEMENTS
(continued)
(f) Withdrawals
-----------
A financial hardship provision is available, enabling a
participant to withdraw an amount to cover an immediate and heavy
financial need.
(g) Expenses
--------
All costs and expenses incident to the administration of the Plan
and the management of the trust fund are paid by the Plan
administrator.
(2) Summary of Significant Accounting Policies
------------------------------------------
(a) Basis of Presentation
---------------------
The accompanying financial statements have been prepared on an
accrual basis in accordance with generally accepted accounting
principles.
(b) Investments
-----------
The Plan's investments are stated at fair value as of the last
business day of the Plan year, except for investments in the
Managed Income Portfolio. This fund is represented by purchases of
units in the Fidelity Managed Income Portfolio, which invests
primarily in guaranteed investment contracts. The fund is fully
benefit-responsive, and accordingly, investments in this fund are
valued at the underlying contract value. Shares of registered
investment companies are valued at quoted market prices which
represent the net asset value of shares held by the Plan at
year-end. The Company stock is valued at its quoted market price.
All purchases and sales transactions are recorded on a trade date
basis.
(c) 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 net assets
available for benefits and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported changes in net assets available for benefits during the
reporting period. Actual results could differ from those
estimates.
(3) Federal Income Taxes
--------------------
On September 25, 1996, the Plan received a determination letter from
the Internal Revenue Service that the Plan qualified under the
provisions of Section 401(a) and 401(k) of the Internal Revenue Code
and that the trust was exempt from federal income taxes under section
501(c). The Plan administrator believes that the Plan continues to
qualify under the provisions of Section 401(a) and 401(k) and that the
trust is exempt from federal income taxes.
(4) Plan Termination
----------------
Although it has not expressed any intent to do so, the Employer
reserves the right at any time, by action of its Board of Directors, to
terminate the Plan or discontinue contributions thereto.
(5) Subsequent Events
-----------------
Subsequent to the Plan year-end, all funds were transferred to another
trustee. As of January 1, 1999 all funds were transferred to The
Vanguard Group.
-9-
<PAGE> 10
Schedule 1
----------
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
LINE 27 a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1998
EIN: 34-0183970
Plan Number: 014
<TABLE>
<CAPTION>
Column A Column B Column C Column D Column E
- ------------------- ------------------------------------------------------------------ -------------------- --------------------
Identity of Issue, Description of Investment Including
Borrower, Lessor, or Maturity Date, Rate of Interest,
Similar Party Collateral, Par, or Maturity Value Cost Current Value
- ------------------- ----------------------- ------------------------------------------ -------------------- --------------------
<S> <C> <C> <C> <C>
* Diebold, Incorporated 11,628 Shares Common Stock $ 7,410 $ 414,980
Fidelity Investments Investment Grade Bond Fund 244 253
==================== ====================
$ 367,564 $ 415,233
==================== ====================
</TABLE>
- ----------------------
* Party-in-interest
See accompanying independent auditors' report.
-10-
<PAGE> 11
Schedule 2a
-----------
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
Line 27(d) - Schedule of Reportable (5%) Transactions
Year ended December 31, 1998
Ein: 34-0183970
Plan Number: 014
- --------------------------------------------------------------------------------
Series transactions, when aggregated, involving an amount in excess of 5 percent
- --------------------------------------------------------------------------------
of the current value of Plan assets:
- ------------------------------------
<TABLE>
<CAPTION>
Column A Column B Column C Column D Column E
- ----------------- ---------------- -------------- ---------------- -------------
Total Dollar
Identity of Party Description of Value of Total Dollar
Involved Assets Purchases Value of Sales Lease Rental
- ----------------- ---------------- -------------- ---------------- -------------
<S> <C> <C> <C> <C>
Common Stock; $ --
9 purchases; $ 95,069 $ 3,958 --
Diebold, Inc. 1 sale
Mutual Fund; 17,744 153,003 --
Fidelity Equity 13 purchases;
Index Fund 1 sale
Fidelity Mutual Fund; 9,776 54,929 --
Investment 22 purchases;
Grade Fund 5 sales
Fidelity 15,652 84,013 --
Retirement Mutual Fund;
Government 19 purchases;
Fund 3 sales
Mutual Fund 53,350 273,995 --
Fidelity Growth 11 purchases;
Company Fund; 4 sales
Mutual Fund; 18,917 97,576 --
Fidelity 14 purchases;
Balanced Fund 4 sales
Victory Financial 200,940 249,912 --
Key Trust Reserves Fund;
Company of 405 purchases;
Ohio, N.A. 108 sales
Fidelity Managed Mutual Fund; 11,065 59,981 --
Income Portfolio 18 purchases;
Fund 3 sales
</TABLE>
<TABLE>
<CAPTION>
Column A Column B Column F Column G Column H Column I
- ----------------- ---------------- ------------------- --------------- ------------------ -----------------
Current Value of
Identity of Party Description of Expense Incurred Asset on
Involved Assets with Transaction Cost of Asset Transaction Date Net Gain or Loss
- ----------------- ---------------- ------------------- --------------- ------------------ -----------------
<S> <C> <C> <C> <C> <C>
Common Stock; $ --
9 purchases; -- $ 98,017 $ 99,027 $ 1,010
Diebold, Inc. 1 sale
Mutual Fund; -- 106,938 170,747 63,809
Fidelity Equity 13 purchases;
Index Fund 1 sale
Fidelity Mutual Fund; -- 62,867 64,705 1,838
Investment 22 purchases;
Grade Fund 5 sales
Fidelity -- 99,665 99,665 --
Retirement Mutual Fund;
Government 19 purchases;
Fund 3 sales
Mutual Fund -- 267,706 327,345 59,639
Fidelity Growth 11 purchases;
Company Fund; 4 sales
Mutual Fund; -- 102,610 116,492 13,882
Fidelity 14 purchases;
Balanced Fund 4 sales
Victory Financial -- 450,852 450,852 --
Key Trust Reserves Fund;
Company of 405 purchases;
Ohio, N.A. 108 sales
Fidelity Managed Mutual Fund; -- 71,046 71,046 --
Income Portfolio 18 purchases;
Fund 3 sales
</TABLE>
See accompanying independent auditors' report.
-11-
<PAGE> 12
Schedule 2b
-----------
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
Line 27(d) - Schedule of Reportable (5%) Transactions
Year ended December 31, 1998
Ein: 34-0183970
Plan Number: 014
- --------------------------------------------------------------------------------
Single transactions, involving an amount in excess of 5 percent of the current
- ------------------------------------------------------------------------------
value of Plan assets:
- ---------------------
<TABLE>
<CAPTION>
Column A Column B Column C Column D Column E
- ------------------ ---------------- ---------------- --------------- ----------------
Total Dollar
Identity of Party Description of Value of Total Dollar
Involved Assets Purchases Value of Sales Lease Rental
- ------------------ ---------------- ---------------- --------------- ----------------
<S> <C> <C> <C> <C>
Mutual Fund;
Fidelity sale
Balanced Fund 5,865,252 units $ -- $ 95,956 $ --
Mutual Fund;
Fidelity Equity sale
Index Fund 3,465,728 units -- 152,353 --
Mutual Fund;
Fidelity Growth sale
Company Fund 5,276,684 units -- 269,216 --
Fidelity
Retirement Mutual Fund;
Government sale
Fund 81,481,220 units -- 81,481 --
Fidelity Mutual Fund;
Investment sale
Grade Fund 7,074,947 units -- 52,284 --
Fidelity Managed Mutual Fund;
Income Portfolio sale
Fund 58,280,520 units -- 58,281 --
</TABLE>
<TABLE>
<CAPTION>
Column A Column B Column F Column G Column H Column I
- ------------------ ---------------- ------------------- -------------- ------------------- -----------------
Current Value of
Identity of Party Description of Expense Incurred Asset on
Involved Assets with Transaction Cost of Asset Transaction Date Net Gain or Loss
- ------------------ ---------------- ------------------- -------------- ------------------- -----------------
<S> <C> <C> <C> <C> <C>
Mutual Fund;
Fidelity sale
Balanced Fund 5,865,252 units $ -- $ 82,287 $ 89,643 $ 13,669
Mutual Fund;
Fidelity Equity sale
Index Fund 3,465,728 units -- 88,775 122,758 63,578
Mutual Fund;
Fidelity Growth sale
Company Fund 5,276,684 units -- 210,094 232,509 59,122
Fidelity
Retirement Mutual Fund;
Government sale
Fund 81,481,220 units -- 81,481 81,481 --
Fidelity Mutual Fund;
Investment sale
Grade Fund 7,074,947 units -- 50,531 51,588 1,753
Fidelity Managed Mutual Fund;
Income Portfolio sale
Fund 58,280,520 units -- 58,281 58,281 --
</TABLE>
See accompanying independent auditors' report.
-12-
<PAGE> 13
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIEBOLD, INCORPORATED RETIREE MEDICAL FUNDING PLAN FOR NEWARK HOURLY EMPLOYEES
------------------------------------------------------------------------------
(Name of Plan)
Date: June 22, 1999 By: /s/Gerald F. Morris
-------------- -----------------------
Gerald F. Morris
Executive Vice President and
Chief Financial Officer
(Principal Accounting and
Financial Officer)
-13-
<PAGE> 14
DIEBOLD, INCORPORATED
FORM 11-K
INDEX TO EXHIBITS
EXHIBIT NO. PAGE NO.
----------- --------
23. Consent of Independent Auditors 15
-14-
<PAGE> 1
EXHIBIT 23
Consent of Independent Auditors
-------------------------------
The Board of Directors
Diebold, Incorporated
We consent to incorporation by reference in the Registration Statement
(No.33-54675) on Form S-8 of Diebold, Incorporated of our report dated June 21,
1999, relating to the statements of net assets available for benefits of the
Diebold, Incorporated Retiree Medical Funding Plan for Newark Hourly Employees
as of December 31, 1998 and 1997, and the related statements of changes in net
assets available for benefits for the years ended December 31, 1998 and 1997,
which report appears in the December 31, 1998 annual report on Form 11-K of the
Diebold, Incorporated Retiree Medical Funding Plan for Newark Hourly Employees.
/s/KPMG LLP
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KPMG LLP
Cleveland, Ohio
June 21, 1999
-15-
