<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
Annual Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the Fiscal Year Ended June 30, 1997
Commission File Number 0-12591
Cardinal Health, Inc. Profit Sharing and Retirement Savings Plan
(Full Title of Plan)
Cardinal Health, Inc.
5555 Glendon Court
Dublin, Ohio 43016
(Name of Issuer of the Securities Held Pursuant to the Plan and
Address of its Principal Executive Office)
<PAGE> 2
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
TABLE OF CONTENTS
- ---------------------------------------------------------------------------------------------------------------------
PAGE
<S> <C>
SIGNATURES 2
INDEPENDENT AUDITORS' REPORT 3
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits as of June 30, 1997 and 1996 4-5
Statement of Changes in Net Assets Available for Benefits for the Year
Ended June 30, 1997 6
Notes to Financial Statements 7-9
SUPPLEMENTAL SCHEDULES AS OF JUNE 30, 1997 AND FOR THE YEAR ENDED JUNE 30, 1997:
Item 27a - Schedule of Assets Held for Investment Purposes 10
Item 27d - Schedule of Reportable Transactions 11
EXHIBIT INDEX 12
EXHIBITS:
Exhibit 23 - Independent Auditors' Consent 13
</TABLE>
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the members
of the Plan Committee have duly caused this annual report to be signed on its
behalf by the undersigned thereunto duly authorized.
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
Date: December 19, 1997 /s/ David Bearman
---------------------------------------------
David Bearman, Plan Committee Member
Date: December 19, 1997 /s/ George H. Bennett, Jr.
---------------------------------------------
George H. Bennett, Jr., Plan Committee Member
Date: December 19, 1997 /s/ Carole W. Tomko
---------------------------------------------
Carole W. Tomko, Plan Committee Member
- 2 -
<PAGE> 4
INDEPENDENT AUDITORS' REPORT
To the Plan Committee of
Cardinal Health, Inc.
Profit Sharing and Retirement
Savings Plan:
We have audited the accompanying statements of net assets available for benefits
of the Cardinal Health, Inc. Profit Sharing and Retirement Savings Plan as of
June 30, 1997 and 1996, and the related statement of changes in net assets
available for benefits for the year ended June 30, 1997. 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, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Cardinal Health, Inc.
Profit Sharing and Retirement Savings Plan as of June 30, 1997 and 1996, and the
changes in net assets available for benefits for the year ended June 30, 1997 in
conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental information by fund is
presented for the purpose of additional analysis of the basic financial
statements rather than to present information regarding the net assets available
for benefits and changes in net assets available for benefits of the individual
funds, and is not a required part of the basic financial statements. The
supplemental schedules listed in the Table of Contents 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. This supplemental
information and the supplemental schedules are the responsibility of the Plan's
management. Such supplemental information by fund and schedules have been
subjected to the auditing procedures applied in our audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects when considered in relation to the basic financial statements taken as
a whole.
DELOITTE & TOUCHE LLP
Columbus, Ohio
November 28, 1997
<PAGE> 5
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF JUNE 30, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
-------------------------------------------------------------------------------------------
ASSET ASSET MANAGED
SHORT-TERM ASSET MANAGER MANAGER INCOME
EQUITY EQUITY INVESTMENT MANAGER GROWTH INCOME PORTFOLIO
FUND A FUND B FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable, primarily from
Plan sponsor $ 813,643 $ 1,344,680 $ 567,800 $ 230,795 $ 585,412 $ 125,458 $ 210,124
Investments (Notes 1 and 3):
Mutual funds 15,249,171 26,332,853 2,633,260 5,465,482 2,365,524
Money market fund 10,520,930
Stable value fund 1,901,237
Equity securities
Participant notes receivable
----------- ------------ ------------ ----------- ----------- ----------- -----------
Total investments 15,249,171 26,332,853 10,520,930 2,633,260 5,465,482 2,365,524 1,901,237
----------- ------------ ------------ ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $16,062,814 $ 27,677,533 $ 11,088,730 $ 2,864,055 $ 6,050,894 $ 2,490,982 $ 2,111,361
=========== ============ ============ =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
------------------------------------------------------------------------------------
PBHG PBHG
EMERGING PBHG JANUS SPARTAN PARTICIPANT
GROWTH GROWTH WORLDWIDE US EQUITY COMPANY NOTES COMBINED
FUND FUND FUND FUND STOCK RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable, primarily from
Plan sponsor $ 24,668 $ 17,662 $ 63,310 $ 41,649 $ 1,318,778 $ 5,343,979
Investments (Notes 1 and 3):
Mutual funds 177,048 136,191 553,184 187,713 53,100,426
Money market fund 10,520,930
Stable value fund 1,901,237
Equity securities 17,139,456 17,139,456
Participant notes receivable $ 2,175,089 2,175,089
--------- --------- --------- --------- ------------ ----------- -----------
Total investments 177,048 136,191 553,184 187,713 17,139,456 2,175,089 84,837,138
--------- --------- --------- --------- ------------ ----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $ 201,716 $ 153,853 $ 616,494 $ 229,362 $ 18,458,234 $ 2,175,089 $90,181,117
========= ========= ========= ========= ============ =========== ===========
</TABLE>
See notes to financial statements.
- 4 -
<PAGE> 6
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF JUNE 30, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------
ASSET
SHORT-TERM ASSET MANAGER
EQUITY EQUITY INVESTMENT MANAGER GROWTH
FUND A FUND B FUND FUND FUND
<S> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable, primarily from Plan sponsor $ 799,794 $ 1,453,607 $ 623,691 $ 221,434 $ 439,172
Investments (Notes 1 and 3):
Mutual funds 11,959,000 23,980,895 1,915,528 2,952,622
Money market fund 11,956,400
Stable value fund
Equity securities
Participant notes receivable
----------- ----------- ----------- ----------- -----------
Total investments 11,959,000 23,980,895 11,956,400 1,915,528 2,952,622
----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $12,758,794 $25,434,502 $12,580,091 $ 2,136,962 $ 3,391,794
=========== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
-----------------------------------------------------------------------
ASSET MANAGED
MANAGER INCOME PARTICIPANT
INCOME PORTFOLIO COMPANY NOTES COMBINED
FUND FUND STOCK RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable, primarily from Plan sponsor $ 133,548 $ 207,316 $ 796,308 $ 4,674,870
Investments (Notes 1 and 3):
Mutual funds 2,253,289 43,061,334
Money market fund 11,956,400
Stable value fund 1,657,636 1,657,636
Equity securities 9,334,423 9,334,423
Participant notes receivable $ 1,698,748 1,698,748
----------- ----------- ----------- ----------- -----------
Total investments 2,253,289 1,657,636 9,334,423 1,698,748 67,708,541
----------- ----------- ----------- ----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $ 2,386,837 $ 1,864,952 $10,130,731 $ 1,698,748 $72,383,411
=========== =========== =========== =========== ===========
</TABLE>
See notes to financial statements.
- 5 -
<PAGE> 7
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR BENEFITS FOR THE YEAR ENDED JUNE 30, 1997
- --------------------------------------------------------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------
SHORT-TERM ASSET
EQUITY EQUITY INVESTMENT MANAGER
FUND A FUND B FUND FUND
<S> <C> <C> <C> <C>
INCREASES IN NET ASSETS:
Contributions transferred from previous qualified plans $137,042 $198,202 $68,782 $138,637
Contributions from Plan sponsor 1,163,405 1,928,305 765,269 324,464
Contributions from Plan participants 1,018,180 1,681,491 512,015 279,375
Loan repayments 105,206 228,384 204,326 22,863
Investment income:
Dividends 1,544,141 816,135 583,123 203,819
Interest on loans 22,154 55,563 37,411 3,986
Net appreciation in fair value of investments 1,487,208 4,921,522 242,720
----------- ----------- ----------- ----------
Total increases 5,477,336 9,829,602 2,170,926 1,215,864
----------- ----------- ----------- ----------
DECREASES IN NET ASSETS:
Retirement benefits (1,437,845) (2,897,758) (2,487,951) (269,939)
Loan withdrawals (282,666) (532,231) (359,928) (64,891)
Miscellaneous other (15,933) (9,619) (28,573) (4,424)
Interfund transfers - net (436,872) (4,146,963) (785,835) (149,517)
----------- ----------- ----------- ----------
Total (decreases) increases (2,173,316) (7,586,571) (3,662,287) (488,771)
----------- ----------- ----------- ----------
INCREASE (DECREASE) IN NET ASSETS
AVAILABLE FOR BENEFITS 3,304,020 2,243,031 (1,491,361) 727,093
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 12,758,794 25,434,502 12,580,091 2,136,962
----------- ----------- ----------- ----------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $16,062,814 $27,677,533 $11,088,730 $2,864,055
=========== =========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
-------------------------------------------------------------------
ASSET ASSET MANAGED PBHG
MANAGER MANAGER INCOME EMERGING PBHG
GROWTH INCOME PORTFOLIO GROWTH GROWTH
FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C>
INCREASES IN NET ASSETS:
Contributions transferred from previous qualified plans $442,413 $33,107 $91,511 $701 $357
Contributions from Plan sponsor 800,535 181,778 (190,851) 25,411 18,227
Contributions from Plan participants 655,263 161,032 225,392 3,851 2,301
Loan repayments 35,795 23,376 25,635 79 79
Investment income:
Dividends 343,127 173,453 99,651
Interest on loans 7,068 4,409 3,254 23 23
Net appreciation in fair value of investments 655,152 100,086 25,429 14,913
---------- ---------- ---------- -------- --------
Total increases 2,939,353 677,241 254,592 55,494 35,900
---------- ---------- ---------- -------- --------
DECREASES IN NET ASSETS:
Retirement benefits (316,825) (299,330) (234,426) (845) (72)
Loan withdrawals (112,585) (57,183) (44,342) (724)
Miscellaneous other (3,493) (4,423) (6,035)
Interfund transfers - net 152,650 (212,160) 276,620 147,791 118,025
---------- ---------- ---------- -------- --------
Total (decreases) increases (280,253) (573,096) (8,183) 146,222 117,953
---------- ---------- ---------- -------- --------
INCREASE (DECREASE) IN NET ASSETS
AVAILABLE FOR BENEFITS 2,659,100 104,145 246,409 201,716 153,853
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 3,391,794 2,386,837 1,864,952
---------- ---------- ---------- -------- --------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $6,050,894 $2,490,982 $2,111,361 $201,716 $153,853
========== ========== ========== ======== ========
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------
SUPPLEMENTAL INFORMATION BY FUND
------------------------------------------------------------------
JANUS SPARTAN PARTICIPANT
WORLDWIDE US EQUITY COMPANY NOTES COMBINED
FUND FUND STOCK RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C>
INCREASES IN NET ASSETS:
Contributions transferred from previous qualified plans $3,481 $37,388 $251,369 $1,402,990
Contributions from Plan sponsor 65,242 42,970 1,752,211 6,876,966
Contributions from Plan participants 9,458 5,822 1,296,832 5,851,012
Loan repayments 160 79 31,244 $(677,226)
Investment income:
Dividends 551 20,934 3,784,934
Interest on loans 42 23 6,337 140,293
Net appreciation in fair value of investments 38,407 9,426 1,931,094 9,425,957
-------- -------- ----------- ---------- -----------
Total increases 116,790 96,259 5,290,021 (677,226) 27,482,152
-------- -------- ----------- ---------- -----------
DECREASES IN NET ASSETS:
Retirement benefits (32) (3,748) (1,360,762) (301,419) (9,610,952)
Loan withdrawals (646) 1,455,196
Miscellaneous other (784) (210) (73,494)
Interfund transfers - net 500,382 136,851 4,399,028
-------- -------- ----------- ---------- -----------
Total (decreases) increases 499,704 133,103 3,037,482 1,153,567 (9,684,446)
-------- -------- ----------- ---------- -----------
INCREASE (DECREASE) IN NET ASSETS
AVAILABLE FOR BENEFITS 616,494 229,362 8,327,503 476,341 17,797,706
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 10,130,731 1,698,748 72,383,411
-------- -------- ----------- ---------- -----------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $616,494 $229,362 $18,458,234 $2,175,089 $90,181,117
======== ======== =========== ========== ===========
</TABLE>
See notes to financial statements.
- 6 -
<PAGE> 8
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED JUNE 30, 1997 AND 1996
- --------------------------------------------------------------------------------
1. ACCOUNTING POLICIES
The accompanying financial statements have been prepared on the accrual
basis. Purchases and sales of securities are recorded on the trade date.
Interest income is recorded as earned and dividend income is recorded on
the ex-dividend date.
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those
estimates.
The statements of net assets available for benefits include investments in
mutual funds, money market funds, stable value funds and equity securities
valued at quoted market prices on the last business day of the plan year.
Participants notes receivable are valued at cost plus accrued interest
which approximates fair value.
2. DESCRIPTION OF PLAN
Substantially all employees of Cardinal Health, Inc. and certain of its
subsidiaries (collectively referred to as the employer, Plan sponsor or
Company) not covered by a collective bargaining agreement and who have
completed 1,000 or more hours of credited service are eligible to
participate in the Cardinal Health, Inc. Profit Sharing and Retirement
Savings Plan (the "Plan"). The Plan was adopted on March 25, 1987, and
replaced a variety of non-collectively bargained retirement plans the
Company previously maintained at the subsidiary level. Contributions
transferred from or receivable from previous qualified plans are comprised
of transfer contributions of new employees from other previously unrelated
qualified plans.
The Plan allows employees to authorize payroll deductions up to the lesser
of 15% of their credited compensation or the maximum allowed under the IRS
guidelines. In addition, Company Matching Contributions are 75% of the
Participant Elected Contributions up to 3% of credited compensation. The
Company also makes profit sharing contributions ("Profit Sharing
Contributions") to the Plan on behalf of each eligible employee who
completes at least 1,000 hours of service and was an eligible employee on
the last day of the plan year. The Company's Profit Sharing Contributions
each plan year consist of: (a) automatic contributions equal to 3% of
total credited compensation for all eligible participants; and (b)
additional contributions, if any, determined at the sole discretion of the
Company, which are allocated to participants based first upon their
credited compensation in excess of the Social Security taxable wage base
(up to 6.06% of such excess) and next, pro rata, based upon total credited
compensation. The investment of such contributions is generally directed
by the employee into one or
- 7 -
<PAGE> 9
more of the following investment options: a money market fund, a stable
value fund, one of nine mutual funds or the Company's common stock fund
established under the Plan.
All participants in the Plan who were employed by the Company on its
commencement date are fully vested in all plan benefits which accrue to
their account. Participants hired after the plan commencement date who did
not terminate employment prior to April 1, 1989 have a nonforfeitable
right to accrued benefits pertaining to Participant Elected Contributions
and transfer contributions at all times, and a nonforfeitable right to
accrued benefits from Company Matching Contributions and Profit Sharing
Contributions in the event of retirement or other termination of
employment: (a) on or after the participant's 65th birthday; (b) on
account of permanent disability; (c) by reason of death; or (d) after
completion of 5 years of service. Any such individuals whose employment
terminates under other circumstances will have a nonforfeitable right to a
portion of the accrued benefits from Company Matching Contributions and
Profit Sharing contributions determined under a 5-year schedule based on
years of servce. Participants hired after the plan commencement date who
terminated employment prior to April 1, 1989 and newly hired participants
after December 31, 1996, whose employment terminates under circumstances
other than retirement will have a nonforfeitable right to a portion of the
accrued benefits from Company Matching Contributions and Profit Sharing
Contributions determined under a 7-year schedule, based on years of
service. All other unvested accrued benefits will be forfeited and used to
reduce Company contributions. All administrative expenses are paid by the
Plan, excluding loan fees which are paid by the borrowing participant.
Effective January 1, 1996, participants may borrow from their fund
accounts a minimum of $1,000 up to a maximum equal to the lesser of
$50,000 or 50 percent of their vested account balance. Loan transactions
are treated as a transfer to (from) the investment fund from (to) the
Participant Notes fund. Loan terms range from 1-5 years or up to 15 years
for the purchase of a primary residence. The loans are secured by the
remaining vested balance in the participant's account and bear interest at
a rate commensurate with local prevailing rates as determined monthly by
the Plan administrator. Interest rates ranged from 9.25 percent to 10
percent at June 30, 1996 and 8 percent to 10.25 percent at June 30, 1997.
Principal and interest is paid ratably through regular payroll deductions.
Upon termination of service, a participant may elect to receive either a
lump sum amount equal to the value of the participant's account or monthly
installments. As of June 30, 1997 and 1996, benefits payable to terminated
employees were $340,645 and $177,702, respectively. These amounts are
included on line 31g of the Plan's Form 5500.
Although it has not expressed any intent to do so, the Company reserves
the right to terminate the Plan. In this event, the accounts of all
participants and beneficiaries would become fully vested and all benefits
nonforfeitable.
In September 1994, the Plan was approved as a qualified defined
contribution plan by the Internal Revenue Service. The Plan has been
amended since receiving the determination letter. However, the Plan
administrator believes that the Plan is currently designed and being
operated in compliance with the applicable requirements of the Internal
Revenue Code. Therefore, the administrator believes that the Plan was
qualified and was tax-exempt as of the financial statement date.
For further information, participants should refer to the Summary Plan
Description provided by the Plan sponsor.
- 8 -
<PAGE> 10
3. INVESTMENT CONTRACT VALUATION
The Plan has invested in a collective investment trust with Fidelity
Institutional Retirement Services Company (Fidelity) which invests solely
in fully benefit responsive guaranteed investment contracts. The
guaranteed investment contracts in the trust are issued by insurance
companies. Fidelity maintains the contributions in a pooled account. The
account is credited with earnings on the underlying investments and
charged for Plan withdrawals (crediting interest rate was 4.15% to 9.63%
on June 30, 1997). The average yield was 5.79% for fiscal year ending June
30, 1997. The investment is recorded in the financial statements based on
the contract value of the underlying investment contracts, which
approximates fair value, as reported to the Plan by Fidelity. Contract
value represents contributions made under the contract, plus earnings,
less withdrawals.
4. PLAN INVESTMENTS
Investments of more than five percent of net assets at June 30, 1997 and
1996 consisted of:
<TABLE>
<CAPTION>
1997 1996
----------------------------- -----------------------------
MARKET MARKET
VALUE COST VALUE COST
<S> <C> <C> <C> <C>
Equity Securities - Cardinal
Health, Inc. Common Shares $17,139,456 $11,967,330 $ 9,334,423 $ 5,334,622
Money Market Funds - Fidelity
Retirement Government Money
Market Portfolio 10,520,930 10,520,930 11,956,400 11,956,400
Mutual Funds:
Fidelity Puritan Fund 15,249,171 12,717,913 11,959,000 10,638,033
Fidelity Magellan Fund 26,332,853 21,121,858 23,980,895 23,149,184
Fidelity Asset Manager Growth 5,465,482 4,584,307
</TABLE>
* * * * * *
- 9 -
<PAGE> 11
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
SUPPLEMENTAL SCHEDULE - ITEM 27a - SCHEDULE OF ASSETS HELD
FOR INVESTMENT PURPOSES AS OF JUNE 30, 1997
- ---------------------------------------------------------------------------------------------------------
UNITS/ MARKET
SHARES DESCRIPTION VALUE COST
Mutual Funds:
<S> <C> <C> <C>
789,295 Fidelity Puritan Fund $15,249,171 $12,717,913
289,213 Fidelity Magellan Fund 26,332,853 21,121,858
146,049 Fidelity Asset Manager Fund 2,633,260 2,291,716
293,370 Fidelity Asset Manager Growth Fund 5,465,482 4,584,307
196,146 Fidelity Asset Manager Income Fund 2,365,524 2,187,335
7,618 Fidelity PBHG Emerging Growth Fund 177,048 151,775
5,498 Fidelity PBHG Growth Fund 136,191 121,285
13,802 Fidelity Janus Worldwide Fund 553,184 514,830
5,855 Fidelity Spartan US Equity Fund 187,713 178,823
----------- -----------
Total Mutual Funds 53,100,426 43,869,842
10,520,930 Money Market Fund - Fidelity Retirement
Government Money Market Portfolio 10,520,930 10,520,930
299,379 Equity Securities - Cardinal Health, Inc. 17,139,456 11,967,330
1,901,237 Stable Value Fund - Fidelity Managed Income
Portfolio Fund 1,901,237 1,901,237
Participant Notes Receivable - interest rate
8% - 10.25%, maturing 1997 through 2012 2,175,089 2,175,089
----------- -----------
TOTAL $84,837,138 $70,434,428
=========== ===========
</TABLE>
- 10 -
<PAGE> 12
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
<TABLE>
<CAPTION>
SUPPLEMENTAL SCHEDULE - ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED JUNE 30, 1997
- ----------------------------------------------------------------------------------------------------------------------------
COST OF ASSET NET
PURCHASES (1) PROCEEDS (1) AT DATE OF SALE GAIN
<S> <C> <C> <C> <C>
SERIES OF REPORTABLE TRANSACTIONS:
Mutual Funds:
Fidelity Puritan Fund $4,988,605 $3,185,641 $2,908,725 $276,916
Fidelity Magellan Fund 5,709,362 8,278,926 7,736,688 542,238
Fidelity Asset Manager Growth Fund 2,743,910 886,202 803,306 82,896
Fidelity Retirement Government Money Market
Portfolio 2,767,284 4,202,754 4,202,754
Common Stock - Cardinal Health, Inc. 8,228,997 2,355,059 1,596,289 758,770
</TABLE>
(1) Purchase price and selling price are equal
to current value at date of transaction.
- 11 -
<PAGE> 13
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
EXHIBIT INDEX
- --------------------------------------------------------------------------------
Page
Exhibit 23 - Independent Auditors' Consent 13
- 12 -
<PAGE> 1
EXHIBIT 23
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement No.
33-42357 of Cardinal Health, Inc. on Form S-8 of our report dated November 28,
1997, appearing in this Annual Report on Form 11-K of Cardinal Health, Inc.
Profit Sharing and Retirement Savings Plan for the year ended June 30, 1997.
DELOITTE & TOUCHE LLP
Columbus, Ohio
December 19, 1997
- 13 -
