SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------------------------
FORM 10-K/A
Amendment No. 1
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1994 Commission file number 1-7283
-------------------------------------
REGAL-BELOIT CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Wisconsin 39-0875718
(State of Incorporation) (I.R.S. Employer Identification No.)
200 State Street
Beloit, Wisconsin 53511-6254
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (608) 364-8800
<PAGE>
INDEX
Form 11-K.................................................
Item 1 - List of Financial Statements and Exhibits........
Financial Statements As of December 31, 1994 and 1993
Together With Report of Independent Public Accountants....
Report of Independent Public Accountants................
Statement of Net Assets Available for Plan Benefits
With Fund Information As of December 31, 1994.........
Statement of Net Assets Available for Plan Benefits
With Fund Information As of December 31, 1993.........
Statement of Changes in Net Assets Available for Plan
Benefits, With Fund Information,
As of December 31, 1994...............................
Statement of Changes in Net Assets Available for Plan
Benefits, With Fund Information,
As of December 31, 1993...............................
Notes to Financial Statements For The Years Ended
December 31, 1994 and 1993..............................
Index to Supplemental Schedules...........................
Schedule of Assets Held for Investment Purposes...........
Schedule of Reportable Transactions.......................
Signatures................................................
Exhibit Index.............................................
Exhibit I.................................................
<PAGE>
EXHIBIT 28.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1994
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number 1-7283
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN
B. Name of the issuer of the securities held pursuant to the plan
and the address of its principal executive office:
REGAL-BELOIT CORPORATION
200 STATE STREET
BELOIT, WISCONSIN 53511
<PAGE>
Item 1. Financial Statements and Exhibits
Listed below are the financial statements and exhibits
filed as a part of this annual report:
(a) Financial Statements
(i) Report of Independent Public Accountants
(ii) Statement of Net Assets Available for Plan
Benefits as of December 31, 1994 and 1993
(iii) Statement of Changes in Net Assets Available
for Plan Benefits for the Years Ended
December 31, 1994 and 1993
(iv) Notes to Financial Statements for the Years
Ended December 31, 1994 and 1993
(v) Schedule I - Schedule of Assets Held for
Investment
(iv) Schedule II - Schedule of 5% Reportable
Transactions
(b) Exhibits
(i) Consent of Independent Public Accountants
<PAGE>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1994 AND 1993
TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of the
Regal-Beloit Corporation Personal Savings Plan:
We have audited the accompanying statements of net assets available for plan
benefits, with fund information, of Regal-Beloit Corporation Personal Savings
Plan (the "Plan") as of December 31, 1994 and 1993, and the related statements
of changes in net assets available for plan benefits, with fund information,
for the years then ended. These financial statements and the schedules
referred to in the accompanying index are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements and schedules 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 plan benefits, with fund
information, of the Plan as of December 31, 1994 and 1993, and the changes in
its net assets available for plan benefits, with fund information, for the
years then ended 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 referred
to in the accompanying index 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 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. 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.
ARTHUR ANDERSEN LLP
-------------------
ARTHUR ANDERSEN LLP
Milwaukee, Wisconsin,
June 14, 1995.
<PAGE>
<TABLE>
<CAPTION>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1994
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Fund Information
---------------------------------------------------------------------
Fixed Company
Loan Income Equity Stock Bond Balanced Opportunity Combined
Fund Fund Fund Fund Fund Fund Fund Plan Fund
-------- ---------- -------- ---------- -------- -------- ----------- -----------
ASSETS
------
CASH $ 366 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 366
RECEIVABLES:
Accrued interest and dividends 1,808 17,572 0 15,784 0 5 6 35,175
Employee contributions 0 8,541 3,215 7,995 3,342 4,114 5,458 32,665
Employer contributions (Note 3) 0 43,720 10,120 24,225 5,995 7,000 13,640 104,700
-------- ---------- -------- ---------- -------- -------- ----------- -----------
1,808 69,833 13,335 48,004 9,337 11,119 19,104 172,540
INVESTMENTS (Note 4):
Regal-Beloit Common Stock 0 0 0 2,661,071 0 0 0 2,661,071
Marshall Stock Fund 0 0 968,784 0 0 0 0 968,784
M&I Employee Benefit Stable Principal Fund 0 3,315,416 0 0 0 0 0 3,315,416
Marshall Money Market Fund 0 0 0 28,985 0 1,416 1,631 32,032
Marshall Intermediate Bond Fund 0 0 0 0 467,933 0 0 467,933
Fidelity Balanced Fund 0 0 0 0 0 792,353 0 792,353
Strong Opportunity Fund 0 0 0 0 0 0 1,152,935 1,152,935
-------- ---------- -------- ---------- -------- -------- ----------- -----------
0 3,315,416 968,784 2,690,056 467,933 793,769 1,154,566 9,390,524
LOANS TO PARTICIPANTS 560,981 0 0 0 0 0 0 560,981
-------- ---------- -------- ---------- -------- -------- ----------- -----------
Total Assets 563,155 3,385,249 982,119 2,738,060 477,270 804,888 1,173,670 10,124,411
-------- ---------- -------- ---------- -------- -------- ----------- -----------
LIABILITIES
-----------
ACCRUED ADMINISTRATIVE FEES 0 5,723 2,592 1,782 869 663 827 12,456
-------- ---------- -------- ---------- -------- -------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $563,155 $3,379,526 $979,527 $2,736,278 $476,401 $804,225 $ 1,172,843 $10,111,955
======== ========== ======== ========== ======== ======== =========== ===========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
<TABLE>
<CAPTION>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1993
<S> <C> <C> <C> <C> <C> <C>
Fund Information
-------------------------------------------------------
Fixed Company
Loan Income Equity Stock Combined
Fund Fund Fund Fund Bond Fund Plan Total
-------- ---------- ---------- ---------- --------- ----------
ASSETS
------
CASH $ 366 $ 0 $ 0 $ 0 $ 0 $ 366
RECEIVABLES
Accrued interest and dividends 1,601 16,825 4 12,208 3 30,641
Employee contributions 0 11,693 7,726 6,319 4,918 30,656
-------- ---------- ---------- ---------- --------- ----------
1,601 28,518 7,730 18,527 4,921 61,297
INVESTMENTS
Regal-Beloit Common Stock 0 0 0 2,291,064 0 2,291,064
Marshall Stock Fund 0 0 1,782,744 0 0 1,782,744
M&I Employee Benefits Stable Principal Fund 0 3,398,393 0 0 0 3,398,393
Marshall Money Market Fund 0 11,065 3,076 14,189 581 28,911
Marshall Intermediate Bond Fund 0 0 0 0 809,492 809,492
-------- ---------- ---------- ---------- --------- ----------
0 3,409,458 1,785,820 2,305,253 810,073 8,310,604
LOANS TO PARTICIPANTS 482,841 0 0 0 0 482,841
-------- ---------- ---------- ---------- --------- ----------
Total Assets 484,808 3,437,976 1,793,550 2,323,780 814,994 8,855,108
-------- ---------- ---------- ---------- --------- ----------
LIABILITIES
-----------
ACCRUED ADMINISTRATIVE FEES 0 3,380 3,827 746 1,230 9,183
BANK OVERDRAFT ON PURCHASE OF INVESTMENTS 0 30 0 0 0 30
-------- ---------- ---------- ---------- --------- ----------
Total Liabilities 0 3,410 3,827 746 1,230 9,213
-------- ---------- ---------- ---------- --------- ----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $484,808 $3,434,566 $1,789,723 $2,323,034 $ 813,764 $8,845,895
======== ========== ========== ========== ========= ==========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
<TABLE>
<CAPTION>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1994
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Fund Information
------------------------------------------------------------------------------
Fixed Company Combined
Loan Income Stock Balanced Opportunity Plan
Fund Fund Equity Fund Fund Bond Fund Fund Fund Total
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
ADDITIONS TO NET ASSETS
ATTRIBUTED TO:
Employee contributions $ 0 $ 557,375 $ 204,326 $ 342,230 $ 89,528 $ 114,682 $ 143,783 $ 1,451,924
Employee rollovers 0 31,342 1,525 11,399 66 2,296 7,768 54,396
Employer contributions
(Note 3) 0 43,720 10,120 24,225 5,995 7,000 13,640 104,700
Investment income:
Interest and dividends 38,477 194,456 17,633 57,693 37,782 16,803 4,708 367,552
Net appreciation
(depreciation) in
fair market value of
investments 0 0 ( 109,458) 56,480 (56,060) ( 26,883) 57,260 ( 78,661)
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
Total additions 38,477 826,893 124,146 492,027 77,311 113,898 227,159 1,899,911
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Administrative fees 0 28,700 13,524 6,866 4,296 2,015 2,466 57,867
Benefits paid to participants 23,693 249,757 118,817 87,218 18,798 17,231 60,470 575,984
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
Total deductions 23,693 278,457 132,341 94,084 23,094 19,246 62,936 633,851
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
TRANSFERS BETWEEN FUNDS 63,563 (603,476) (802,001) 15,301 (391,580) 709,573 1,008,620 0
NET ASSETS AVAILABLE FOR
PLAN BENEFITS
Beginning of year 484,808 3,434,566 1,789,723 2,323,034 813,764 0 0 8,845,895
-------- ----------- ------------ ---------- ---------- ---------- ----------- -------------
End of year $563,155 $3,379,526 $ 979,527 $2,736,278 $ 476,401 $ 804,225 $1,172,843 $ 10,111,955
======== =========== ============ ========== ========== ========== =========== =============
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
<TABLE>
<CAPTION>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1993
<S> <C> <C> <C> <C> <C> <C>
Fund Information
------------------------------------------------------------
Company
Loan Fixed Income Stock Combined
Fund Fund Equity Fund Fund Bond Fund Plan Total
-------- ------------ ------------ ---------- ---------- ----------
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Employee contributions $ 0 $ 620,489 $ 353,060 $ 287,094 $ 110,123 $1,370,766
Employee rollovers 0 498,524 1,176 1,176 1,176 502,052
Investment income:
Interest and dividends 26,786 200,215 34,691 46,407 48,776 356,875
Net appreciation(depreciation) in
fair market value of investments 0 0 39,476 436,850 ( 1,458) 474,868
-------- ------------ ------------ ---------- ---------- ----------
Total additions 26,786 1,319,228 428,403 771,527 158,617 2,704,561
-------- ------------ ------------ ---------- ---------- ----------
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Administrative fees 0 26,809 18,268 2,921 4,514 52,512
Benefits Paid to Participants 76,869 590,659 253,747 296,715 49,853 1,267,843
-------- ------------ ------------ ---------- ---------- ----------
Total Deductions 76,869 617,468 272,015 299,636 54,367 1,320,355
-------- ------------ ------------ ---------- ---------- ----------
TRANSFERS BETWEEN FUNDS 257,998 ( 425,077) ( 105,195) 147,312 124,962 0
NET ASSETS AVAILABLE FOR PLAN BENEFITS:
Beginning of year 276,893 3,157,883 1,738,530 1,703,831 584,552 7,461,689
-------- ------------ ------------ ---------- ---------- ----------
End of year $484,808 $ 3,434,566 $ 1,789,723 $2,323,034 $ 813,764 $8,845,895
======== ============ ============ ========== ========== ==========
</TABLE>
The accompanying notes are an integral part of this statement.
<PAGE>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1994 AND 1993
(1) Description of the Plan-
The Regal-Beloit Personal Savings Plan (the "Plan") is a defined
contribution plan established on July 1, 1988, to allow eligible employees
to defer compensation as permitted under Section 401(k) of the Internal
Revenue Code. The Plan covers substantially all employees of Regal-Beloit
Corporation (the "Company") with at least six months of service with the
Company and who are not covered under separate plans. The Plan is subject
to the U.S. Employee Retirement Income Security Act of 1974 ("ERISA").
Participants of the Plan may direct their contributions into the following
funds with Marshall & Ilsley Trust Company (the "Trustee"):
(a) Fixed Income Fund-
Amounts allocated to the Fixed Income Fund are invested in a mutual
fund with securities and obligations which produce a fixed rate of
investment return, including but not limited to, United States
government securities, corporate bonds, notes, debentures or any
fixed income trust fund or funds maintained by the Trustee or its
affiliates or other banks, or any contracts issued by insurance
companies or other financial institutions. Of the 958 participants
in the Plan, 669 have a balance in the Fixed Income Fund.
(b) Equity Fund-
Amounts allocated to the Equity Fund are invested in a mutual fund
with equity type securities, without regard to whether such
investments pay dividends or other forms of return, including but
not limited to, common stock or other securities or obligations
convertible or exercisable into equity securities or any mutual fund
or equity common trust fund or funds maintained by the Trustee or its
affiliate or other banks. Of the 958 participants in the Plan, 326
have a balance in the Equity Fund.
<PAGE>
(c) Balanced Fund-
Effective April 1994, this fund was made available for participant's
election. Amounts allocated to the Balanced Fund seek income,
consistent with preservation of capital. The Fund invests in a
mutual fund with a diversified portfolio of high yielding securities,
including common and preferred stocks, and bonds. At least 25% of
its assets will always be invested in fixed income securities. Of the
958 participants in the Plan, 210 have a balance in the Balanced Fund.
(d) Opportunity Fund-
Effective April 1994, this fund was made available for participant's
election. Amounts allocated to the Opportunity Fund invests in a
mutual fund which seeks to provide capital appreciation by investing
in growth and aggressive growth stocks. At least 70% of the fund's
assets will always be invested in the common stocks of growth
companies, generally described as small to mid-size. Of the 958
participants in the Plan, 265 have a balance in the Opportunity Fund.
Investments in the Equity Fund, Fixed Income Fund, Balanced Fund and
Opportunity Fund are effected in the open market or through collective
investment funds of the Trustee.
(e) Company Stock Fund-
Amounts allocated to the Company Stock Fund are invested in Regal-
Beloit Corporation common stock. Investments in, sales of, and
reinvestment in Company Stock shall be made on the open market,
from the Company or its affiliates or in negotiated transactions
with independent parties pursuant to the direction of the Plan
Administrator. Of the 958 participants in the Plan, 488 have a
balance in the Company Stock Fund.
(f) Bond Fund-
This fund invests in a mutual fund which holds Government and
Corporate bonds to generate a high level of current income while
minimizing market volatility. Of the 958 participants in the Plan,
155 have a balance in the Bond Fund.
<PAGE>
Participants at all times have a fully vested interest in their individual and
Company contribution accounts. Distributions of participants' accounts can be
made in lump-sum amounts upon normal retirement from the Company, upon the
death of the participant and upon termination of employment. Withdrawals for
financial hardship can be made in accordance with certain governmental
regulations.
Earnings on the investments of the Trust are allocated to the participants'
accounts based on the proportion of the participant's account to the total of
all participants' accounts in each particular investment fund as of the
quarterly valuation dates of March 30, June 30, October 31 and December 31.
The Plan permits a participant to borrow from their individual account an
amount limited to 50% of their account balance to a maximum of $50,000.
Interest at prevailing market rates is charged on the loan, but is credited
as income to the individual participant's account. Only one loan is allowed
at any one time, and the maximum term is five years, unless the loan is used
for the acquisition of the participant's primary residence, for which the
term of the loan may be extended beyond the five year period.
The Company may terminate the Plan at any time. In the event of termination,
or complete discontinuance of contributions, the rights of all participants to
their accounts shall become fully vested and nonforfeitable. Distribution upon
termination or complete discontinuance of contributions will be made in a manner
selected by the Trustee. Presently, the Company has no intention to terminate
the Plan.
(2) Significant Accounting Policies-
Basis of accounting-
The financial statements have been prepared on the accrual basis of
accounting.
(3) Funding Policy-
The Plan provides for discretionary Company contributions subject to the
Board of Director's authorization to be allocated to the individual
participant's account based on the proportion of a participant's
compensation to the total compensation of all participants. No such
contributions were authorized by the Board of Directors in 1994 or 1993.
In October 1994, the Company's Board of Directors approved a one-time
incentive contribution of $100 to each employee participating or enrolled
to participate in the Plan as of December 31, 1994. This contribution was
to encourage employees pretax retirement savings.
<PAGE>
All other contributions have been made on a voluntary basis by employees.
Participants who contribute may elect to have their contributions
invested in increments of 10% in 1994 and 25% in 1993 among any combination
of the Fixed Income Fund, the Equity Fund, the Balanced Fund, the
Opportunity Fund, the Company Stock Fund or the Bond Fund. This election
can be changed on any January 1, April 1, July 1 or October 1.
(4) Investments-
Investments are stated at fair market value as determined by the Trustee
by reference to published market data.
During 1994 and 1993, the Plan's investments (including investments bought,
sold and held during the year) appreciated (depreciated) in value as
follows:
<TABLE>
<CAPTION>
<S> <C> <C>
1994 1993
---------- ----------
Net realized/unrealized gains (losses)
on investments -
Regal-Beloit Corporation Common Stock $ 56,480 $ 436,850
Marshall Stock Fund (109,458) 39,476
Marshall Intermediate Bond Fund (56,060) (1,458)
Fidelity Balanced Fund (26,883) 0
Strong Opportunity Fund 57,260 0
---------- ----------
Net realized/unrealized gains (losses)
on investments $ (78,661) $ 474,868
========== ==========
</TABLE>
(5 Income Tax Status-
The Plan has obtained a determination letter from the Internal Revenue
Service dated November 29, 1989, approving the Plan as qualified for tax-
exempt status. Plan amendments adopted since the last tax determination
letter will be included in the Plan's next filing. In the opinion of the
Company's management, the Plan, as currently amended, remains tax-exempt.
(6) Related Party Transactions-
(a) Cash and investments of the Plan are held in accounts of the Trustee.
(b) The Plan invests in securities of the Company.
These transactions are not considered prohibitive transactions by
statutory exemptions under the ERISA regulations.
<PAGE>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
DECEMBER 31, 1994
Index to Supplemental Schedules
Item 27a--Assets held for investment purposes Schedule I
Item 27d--5% reportable transactions Schedule II
<PAGE>
SCHEDULE I
<TABLE>
<CAPTION>
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
ITEM 27a -- SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1994
<S> <C> <C> <C>
Number
Of
Shares Description of Security Cost Value
- --------- ------------------------------------------ ----------- -----------
195,308 Regal-Beloit Corporation Common Stock $ 2,046,389 $2,661,071
100,081 Marshall Stock Fund 997,956 968,784
3,315,416 M&I Employee Benefit Stable Principal Fund 3,315,416 3,315,416
32,032 Marshall Money Market Fund 32,032 32,032
51,762 Marshall Intermediate Bond Fund 514,642 467,933
64,471 Fidelity Balanced Fund 818,965 792,353
41,607 Strong Opportunity Fund 1,132,377 1,152,935
---------- ----------
Total Investments 8,857,777 9,390,524
Loans to Participants (Interest Rates: 8%-12%) 0 560,981
---------- ----------
Total Assets Held for Investment $8,857,777 $9,951,505
========== ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE II
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
ITEM 27d -- SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1994
<S> <C> <C> <C> <C> <C> <C>
Identity of Party Number Number Net
Involved/Description Of Purchase Of Selling Cost Of Gain
of Asset Purchases Price Sales Price Asset Sold (Loss)
- ------------------------------------------ --------- ---------- ------ ---------- ---------- ----------
Regal-Beloit Common Stock 34 $ 916,473 22 $ 594,900 $ 437,588 $ 157,312
Marshall Stock Fund 80 298,394 27 1,002,896 1,023,674 ( 20,778)
M&I Employee Benefit Stable Principal Fund 96 972,072 32 1,055,049 1,055,049 0
Marshall Money Market Fund 469 2,321,946 399 2,318,828 2,318,828 0
Marshall Intermediate Bond Fund 88 158,637 25 444,136 468,341 ( 24,205)
Fidelity Balanced Fund 46 854,620 5 35,384 35,655 ( 271)
Strong Opportunity Fund 46 1,216,593 11 88,669 93,121 ( 4,452)
</TABLE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan
Administrator has duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
REGAL-BELOIT CORPORATION
PERSONAL SAVINGS PLAN
By Gerald J. Berres
--------------------------------------
Gerald J. Berres
Plan Administrator
Date: June 28, 1995
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT INDEX
<S> <C>
Page
----
Exhibit I
Consent of Independent Public Accountants.............. 21
</TABLE>
<PAGE>
Exhibit I
Consent of Independent Public Accountants
As independent public accountants, we hereby consent to the incorporation of
our report included in this Form 11-K into the previously filed Form S-8
Registration Statement of Regal-Beloit Corporation (File No. 1-7283).
ARTHUR ANDERSEN LLP
-------------------
ARTHUR ANDERSEN LLP
Milwaukee, Wisconsin,
June 23, 1995.
