<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, 1998
-------------
Commission File Number 0-12591
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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>
TABLE OF CONTENTS
- -------------------------------------------------------------------------------------------
<CAPTION>
PAGE
<S> <C>
SIGNATURES 2
INDEPENDENT AUDITORS' REPORT 3
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits as of June 30, 1998 and 1997 4-5
Statement of Changes in Net Assets Available for Benefits for the Year
Ended June 30, 1998 6
Notes to Financial Statements 7-9
SUPPLEMENTAL SCHEDULES:
Item 27a - Schedule of Assets Held for Investment Purposes as of June 30, 1998 10
Item 27d - Schedule of Reportable Transactions for the Year Ended June 30, 1998 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 15, 1998 /s/ George H. Bennett, Jr.
---------------------------------------------
George H. Bennett, Jr., Plan Committee Member
Date: December 15, 1998 /s/ Carole W. Tomko
---------------------------------------------
Carole W. Tomko, Plan Committee Member
- 2 -
<PAGE> 4
DELOITTE & TOUCHE LETTERHEAD
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 Cardinal Health, Inc. Profit Sharing and Retirement Savings Plan as of June
30, 1998 and 1997, and the related statement of changes in net assets available
for benefits for the year ended June 30, 1998. 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 Plan as of June 30, 1998
and 1997, and the changes in net assets available for benefits for the year
ended June 30, 1998 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 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. The supplemental information by fund in the statements of net assets
available for benefits and the statement of changes in net assets available for
benefits is presented for the purpose of additional analysis rather than to
present the net assets available for benefits and changes in net assets
available for benefits of the individual funds. The supplemental schedules and
supplemental information by fund is the responsibility of the Plan's management.
Such supplemental schedules and supplemental information by fund 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.
/s/ Deloitte & Touche LLP
DELOITTE & TOUCHE LLP
Columbus, Ohio
November 13, 1998
LOGO
<PAGE> 5
<TABLE>
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF JUNE 30, 1998
- -----------------------------------------------------------------------------------------------------------------
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------------------
FIDELITY FIDELITY
FIDELITY ASSET ASSET PBHG
FIDELITY FIDELITY ASSET MANAGER MANAGER EMERGING PBHG
PURITAN MAGELLAN MANAGER GROWTH INCOME GROWTH GROWTH
FUND FUND FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable,
primarily from
Plan sponsor $ 1,077,593 $ 1,780,984 $ 305,690 $ 775,372 $ 166,328 $ 32,629 $ 23,427
Investments:
Mutual funds 17,562,083 34,523,057 2,888,426 7,186,128 2,456,976 691,861 875,733
Money market fund
Stable value fund
Equity securities
Participant notes
receivable
----------- ----------- ---------- ---------- ---------- -------- --------
Total investments 17,562,083 34,523,057 2,888,426 7,186,128 2,456,976 691,861 875,733
----------- ----------- ---------- ---------- ---------- -------- --------
NET ASSETS AVAILABLE
FOR BENEFITS $18,639,676 $36,304,041 $3,194,116 $7,961,500 $2,623,304 $724,490 $899,160
=========== =========== ========== ========== ========== ======== ========
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------------------------
FIDELITY FIDELITY
FIDELITY RETIREMENT EQUITY MANAGED
JANUS SPARTAN GOVERNMENT SECURITIES - INCOME PARTICIPANT
WORLDWIDE U.S. EQUITY MONEY MARKET CARDINAL PORTFOLIO NOTES COMBINED
FUND FUND PORTFOLIO FUND HEALTH, INC. FUND RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable,
primarily from
Plan sponsor $ 83,872 $ 55,067 $ 752,015 $ 1,746,657 $ 278,157 $ 7,077,791
Investments:
Mutual funds 2,171,774 2,166,734 70,522,772
Money market fund 10,445,243 10,445,243
Stable value fund 2,135,144 2,135,144
Equity securities 29,257,025 29,257,025
Participant notes
receivable $3,156,815 3,156,815
---------- ---------- ----------- ----------- ---------- ---------- ------------
Total investments 2,171,774 2,166,734 10,445,243 29,257,025 2,135,144 3,156,815 115,516,999
---------- ---------- ----------- ----------- ---------- ---------- ------------
NET ASSETS AVAILABLE
FOR BENEFITS $2,255,646 $2,221,801 $11,197,258 $31,003,682 $2,413,301 $3,156,815 $122,594,790
========== ========== =========== =========== ========== ========== ============
</TABLE>
See notes to financial statements.
- 4 -
<PAGE> 6
<TABLE>
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF JUNE 30, 1997
- -----------------------------------------------------------------------------------------------------------------
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------------------
FIDELITY FIDELITY
FIDELITY ASSET ASSET PBHG
FIDELITY FIDELITY ASSET MANAGER MANAGER EMERGING PBHG
PURITAN MAGELLAN MANAGER GROWTH INCOME GROWTH GROWTH
FUND FUND 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 $ 230,795 $ 585,412 $ 125,458 $ 24,668 $ 17,662
Investments:
Mutual funds 15,249,171 26,332,853 2,633,260 5,465,482 2,365,524 177,048 136,191
Money market fund
Stable value fund
Equity securities
Participant notes
receivable
----------- ----------- ---------- ---------- ---------- -------- --------
Total investments 15,249,171 26,332,853 2,633,260 5,465,482 2,365,524 177,048 136,191
----------- ----------- ---------- ---------- ---------- -------- --------
NET ASSETS AVAILABLE
FOR BENEFITS $16,062,814 $27,677,533 $2,864,055 $6,050,894 $2,490,982 $201,716 $153,853
=========== =========== ========== ========== ========== ======== ========
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------------------------
FIDELITY FIDELITY
FIDELITY RETIREMENT EQUITY MANAGED
JANUS SPARTAN GOVERNMENT SECURITIES - INCOME PARTICIPANT
WORLDWIDE U.S. EQUITY MONEY MARKET CARDINAL PORTFOLIO NOTES COMBINED
FUND FUND PORTFOLIO FUND HEALTH, INC. FUND RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS:
Contribution receivable,
primarily from
Plan sponsor $ 63,310 $ 41,649 $ 567,800 $ 1,318,778 $ 210,124 $ 5,343,979
Investments:
Mutual funds 553,184 187,713 53,100,426
Money market fund 10,520,930 10,520,930
Stable value fund 1,901,237 1,901,237
Equity securities 17,139,456 17,139,456
Participant notes
receivable $2,175,089 2,175,089
-------- -------- ----------- ----------- ---------- ---------- -----------
Total investments 553,184 187,713 10,520,930 17,139,456 1,901,237 2,175,089 84,837,138
-------- -------- ----------- ----------- ---------- ---------- -----------
NET ASSETS AVAILABLE
FOR BENEFITS $616,494 $229,362 $11,088,730 $18,458,234 $2,111,361 $2,175,089 $90,181,117
======== ======== =========== =========== ========== ========== ===========
</TABLE>
See notes to financial statements.
- 5 -
<PAGE> 7
<TABLE>
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR BENEFITS FOR THE YEAR ENDED JUNE 30, 1998
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
--------------------------------------------------------------------------------------
FIDELITY FIDELITY
FIDELITY ASSET ASSET PBHG
FIDELITY FIDELITY ASSET MANAGER MANAGER EMERGING PBHG
PURITAN MAGELLAN MANAGER GROWTH INCOME GROWTH GROWTH
FUND FUND FUND FUND FUND FUND FUND
<S> <C> <C> <C> <C> <C> <C> <C>
INCREASES IN NET ASSETS:
Contributions transferred from
previous qualified plans $ 242,796 $ 342,699 $ 25,279 $ 169,941 $ 50,161 $ 47,026 $ 51,599
Contributions from Plan sponsor 1,435,682 2,381,650 401,502 1,033,662 217,644 59,081 60,019
Contributions from Plan participants 1,048,591 1,796,835 289,740 785,701 151,416 95,261 141,207
Investment income:
Dividends 1,340,575 2,180,374 278,785 697,730 167,226
Interest on loans 34,564 73,005 6,222 14,605 6,277 650 347
Net appreciation in fair value of
investments 1,573,764 5,647,734 234,392 682,792 111,328 18,086 26,644
----------- ----------- ---------- ---------- ---------- -------- --------
Total increases 5,675,972 12,422,297 1,235,920 3,384,431 704,052 220,104 279,816
----------- ----------- ---------- ---------- ---------- -------- --------
DECREASES IN NET ASSETS:
Retirement benefits (1,494,171) (2,768,291) (489,556) (943,216) (301,573) (10,256) (5,490)
Miscellaneous other (32,363) (18,278) (8,194) (8,348) (7,385) (47) (53)
----------- ----------- ---------- ---------- ---------- -------- --------
Total decreases (1,526,534) (2,786,569) (497,750) (951,564) (308,958) (10,303) (5,543)
----------- ----------- ---------- ---------- ---------- -------- --------
LOAN ACTIVITY - NET (230,221) (426,666) (40,849) (186,060) (28,685) (9,309) (4,839)
----------- ----------- ---------- ---------- ---------- -------- --------
INTERFUND TRANSFERS - NET (1,342,355) (582,554) (367,260) (336,201) (234,087) 322,282 475,873
----------- ----------- ---------- ---------- ---------- -------- --------
INCREASE IN NET ASSETS
AVAILABLE FOR BENEFITS 2,576,862 8,626,508 330,061 1,910,606 132,322 522,774 745,307
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 16,062,814 27,677,533 2,864,055 6,050,894 2,490,982 201,716 153,853
----------- ----------- ---------- ---------- ---------- -------- --------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $18,639,676 $36,304,041 $3,194,116 $7,961,500 $2,623,304 $724,490 $899,160
=========== =========== ========== ========== ========== ======== ========
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND
------------------------------------------------------------------------------------------
FIDELITY
RETIREMENT FIDELITY
FIDELITY GOVERNMENT EQUITY MANAGED
JANUS SPARTAN MONEY MARKET SECURITIES - INCOME PARTICIPANT
WORLDWIDE U.S. EQUITY PORTFOLIO CARDINAL PORTFOLIO NOTES COMBINED
FUND FUND FUND HEALTH, INC. FUND RECEIVABLE FUNDS
<S> <C> <C> <C> <C> <C> <C> <C>
INCREASES IN NET ASSETS:
Contributions transferred from
previous qualified plans $ 128,753 $ 281,204 $ 34,569 $ 358,421 $ 8,796 $ 1,741,244
Contributions from Plan sponsor 164,843 116,530 944,881 2,332,863 (542,342) 8,606,015
Contributions from Plan participants 294,786 240,782 532,696 1,710,545 200,613 7,288,173
Investment income:
Dividends 93,707 31,592 556,940 32,358 122,857 5,502,144
Interest on loans 1,525 1,699 48,997 13,521 4,971 206,383
Net appreciation in fair value of
investments 265,844 221,998 11,360,305 20,142,887
---------- ---------- ----------- ----------- ---------- ---------- ------------
Total increases 949,458 893,805 2,118,083 15,808,013 (205,105) 43,486,846
---------- ---------- ----------- ----------- ---------- ---------- ------------
DECREASES IN NET ASSETS:
Retirement benefits (217,856) (161,575) (1,187,056) (2,763,127) (357,599) $ (228,944) (10,928,710)
Miscellaneous other (366) (638) (45,218) (10,712) (12,861) (144,463)
---------- ---------- ----------- ----------- ---------- ---------- ------------
Total decreases (218,222) (162,213) (1,232,274) (2,773,839) (370,460) (228,944) (11,073,173)
---------- ---------- ----------- ----------- ---------- ---------- ------------
LOAN ACTIVITY - NET (38,873) (25,524) (177,268) 28,689 (71,065) 1,210,670
---------- ---------- ----------- ----------- ---------- ---------- ------------
INTERFUND TRANSFERS - NET 946,789 1,286,371 (600,013) (517,415) 948,570
---------- ---------- ----------- ----------- ---------- ---------- ------------
INCREASE IN NET ASSETS
AVAILABLE FOR BENEFITS 1,639,152 1,992,439 108,528 12,545,448 301,940 981,726 32,413,673
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 616,494 229,362 11,088,730 18,458,234 2,111,361 2,175,089 90,181,117
---------- ---------- ----------- ----------- ---------- ---------- ------------
NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $2,255,646 $2,221,801 $11,197,258 $31,003,682 $2,413,301 $3,156,815 $122,594,790
========== ========== =========== =========== ========== ========== ============
</TABLE>
See notes to financial statements.
- 6 -
<PAGE> 8
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 1998
- --------------------------------------------------------------------------------
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, and equity securities valued at quoted
market prices on the last business day of the plan year. The Fidelity
Managed Income Portfolio Fund is a collective investment trust and 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. 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's expenses are paid by the Plan, as provided by
the Plan document.
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
- 7 -
<PAGE> 9
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 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 service. 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.
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. Principal and
interest are 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, 1998 and 1997, benefits payable to terminated
employees were $67,723 and $340,645, 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 stable value fund 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 ranged from 4.81% to 8.77% and 4.15%
to 9.63% at June 30, 1998 and 1997, respectively. 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. The average yield for fiscal years
ending June 30, 1998 and 1997 was 5.65% and 5.79%, respectively, and are
established as determined by each individual contract.
4. PLAN INVESTMENTS
Investments of more than five percent of net assets at June 30, 1998 and
1997 consisted of:
<TABLE>
<CAPTION>
1998 1997
<S> <C> <C>
Equity Securities - Cardinal
Health, Inc. $29,257,025 $17,139,456
Money Market Funds - Fidelity
Retirement Government Money
Market Portfolio Fund 10,445,243 10,520,930
Mutual Funds:
Fidelity Puritan Fund 17,562,083 15,249,171
Fidelity Magellan Fund 34,523,057 26,332,853
Fidelity Asset Manager Growth Fund 7,186,128 5,465,482
</TABLE>
* * * * * *
- 9 -
<PAGE> 11
<TABLE>
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
SUPPLEMENTAL SCHEDULE - ITEM 27a - SCHEDULE OF ASSETS
HELD FOR INVESTMENT PURPOSES AS OF JUNE 30, 1998
- --------------------------------------------------------------------------------------------
<CAPTION>
UNITS/ MARKET
DESCRIPTION SHARES COST VALUE
<S> <C> <C> <C>
Mutual Funds:
Fidelity Puritan Fund 830,751 $14,062,198 $ 17,562,083
Fidelity Magellan Fund 314,905 24,936,972 34,523,057
Fidelity Asset Manager Fund 147,821 2,479,829 2,888,426
Fidelity Asset Manager Growth Fund 350,885 5,981,949 7,186,128
Fidelity Asset Manager Income Fund 194,689 2,222,942 2,456,976
PBHG Emerging Growth Fund 28,320 660,672 691,861
PBHG Growth Fund 32,232 846,029 875,733
Janus Worldwide Fund 46,081 1,890,291 2,171,774
Fidelity Spartan U.S. Equity Fund 53,513 1,960,766 2,166,734
----------- ------------
55,041,648 70,522,772
Total Mutual Funds
Money Market Fund - Fidelity Retirement
Government Money Market Portfolio Fund 10,445,243 10,445,243 10,445,243
Equity Securities - Cardinal Health, Inc. 312,075 15,093,305 29,257,025
Stable Value Fund - Fidelity Managed
Income Portfolio Fund 2,135,144 2,135,144 2,135,144
Participant Notes Receivable - interest rate
8% - 10.25%, maturing 1998 through 2013 3,156,815 3,156,815
----------- ------------
TOTAL $85,872,155 $115,516,999
=========== ============
</TABLE>
- 10 -
<PAGE> 12
<TABLE>
CARDINAL HEALTH, INC.
PROFIT SHARING AND RETIREMENT
SAVINGS PLAN
SUPPLEMENTAL SCHEDULE - ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED JUNE 30, 1998
- -----------------------------------------------------------------------------------------------------------
<CAPTION>
NET
PURCHASES (1) PROCEEDS (1) COST OF SALE GAIN
<S> <C> <C> <C> <C>
SERIES OF TRANSACTIONS:
Mutual Funds:
Fidelity Puritan Fund $4,508,516 $3,769,370 $3,164,231 $ 605,139
Fidelity Magellan Fund 8,341,271 5,798,801 4,526,157 1,272,644
Fidelity Asset Manager Growth Fund 3,592,062 2,554,210 2,194,420 359,790
Fidelity Retirement Government Money Market
Portfolio Fund 3,624,327 3,700,014 3,700,014
Equity Securities - Cardinal Health, Inc. 6,442,746 5,682,807 3,316,771 2,366,036
</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
DELOITTE & TOUCHE LETTERHEAD
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 13,
1998, 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, 1998.
/s/ Deloitte & Touche LLP
DELOITTE & TOUCHE LLP
Columbus, Ohio
December 15, 1998
LOGO
