<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(mark one):
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996].
For the fiscal year ended December 31, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED].
For the transition period from ____________ to ____________
Commission file number 001-10109
--------------
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
BECKMAN COULTER, INC. SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office:
BECKMAN COULTER, INC.
4300 North Harbor Boulevard
Fullerton, California 92835
<PAGE> 2
DELOITTE &
TOUCHE
- ----------
BECKMAN COULTER, INC.
SAVINGS PLAN
Financial Statements for the Years
Ended December 31, 1998 and 1997,
Supplemental Schedules, and
Independent Auditors' Report
- -----------------
DELOITTE & TOUCHE
TOHMATSU
- -----------------
<PAGE> 3
BECKMAN COULTER, INC. SAVINGS PLAN
TABLE OF CONTENTS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PAGE
<S> <C>
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS:
Statement of net assets available for benefits as of December 31, 1998 3
Statement of net assets available for benefits as of December 31, 1997 4
Statement of changes in net assets available for benefits
for the year ended December 31, 1998 5
Statement of changes in net assets available for benefits
for the year ended December 31, 1997 7
Notes to financial statements for the years ended
December 31, 1998 and 1997 8
SUPPLEMENTAL SCHEDULES:
Line 27a - Schedule of assets held for investment purposes as of December 31, 1998 16
Line 27d - Schedule of reportable series of transactions for the year
ended December 31, 1998 18
Line 27d - Schedule of reportable single transactions for the year ended
December 31, 1998 19
</TABLE>
All other supplemental schedules are omitted because of the absence of
conditions under which they are required.
<PAGE> 4
DELOITTE & TOUCHE
- -----------------
DELOITTE & TOUCHE LLP Telephone (714) 436-7100
Suite 1200 Facsimile: (714) 436-7200
695 Towne Center Drive
Costa Mesa, California 92626-1924
INDEPENDENT AUDITORS' REPORT
To the Corporate Benefits Committee of
Beckman Coulter, Inc. Savings Plan:
We have audited the accompanying financial statements of Beckman Coulter, Inc.
Savings Plan (the Plan) as of December 31, 1998 and 1997, and for the years then
ended, listed in the Table of Contents. 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 December 31,
1998 and 1997, and the changes in net assets available for benefits for the
years then ended 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 is also 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. These schedules and supplemental
information by fund are the responsibility of the Plan's management. Such
schedules and supplemental information by fund
- -----------------
DELOITTE & TOUCHE
TOHMATSU
- -----------------
<PAGE> 5
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
June 4, 1999
2
<PAGE> 6
BECKMAN COULTER, INC. SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
------------------------------------------------------------------------
BECKMAN BLUE CHIP
COULTER INTEREST GROWTH INDEX INTERNATIONAL
STOCK FUND INCOME FUND FUND FUND STOCK FUND
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair value (Note 4):
Common stock of Plan sponsor $ 49,487,438 $ - $ - $ - $ -
Mutual funds 225,296,077 58,063,725 9,760,586
Participant loans receivable
Other investments
Investment contracts, at contract value (Notes 3 and 4):
Group contracts with insurance companies 72,736,157
Synthetic group insurance contracts 94,654,078
Bank investment contracts 10,027,444
------------ ------------ ------------ ------------ ------------
Total investments 49,487,438 177,417,679 225,296,077 58,063,725 9,760,586
Cash and cash equivalents 13 8,917,292 5
Contributions receivable 13,757 523,112 718,538 30,289 25,216
------------ ------------ ------------ ------------ ------------
Total assets 49,501,208 186,858,083 226,014,615 58,094,019 9,785,802
LIABILITIES
------------ ------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 49,501,208 $186,858,083 $226,014,615 $ 58,094,019 $ 9,785,802
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
------------------------------------------------------------------------
MID-CAP PERSONAL PERSONAL PERSONAL
GROWTH STRATEGY STRATEGY STRATEGY TRADELINK+
FUND BALANCED FUND GROWTH FUND INCOME FUND FUND
------------ ------------- ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair value (Note 4):
Common stock of Plan sponsor $ - $ - $ - $ - $ -
Mutual funds 25,034,153 77,014,857 6,736,634 5,611,856
Participant loans receivable
Other investments 455,827
Investment contracts, at contract value (Notes 3 and 4):
Group contracts with insurance companies
Synthetic group insurance contracts
Bank investment contracts
------------ ------------ ------------ ------------ ------------
Total investments 25,034,153 77,014,857 6,736,634 5,611,856 455,827
Cash and cash equivalents
Contributions receivable 185,662 204,601 68,285 32,756
------------ ------------ ------------ ------------ ------------
Total assets 25,219,815 77,219,458 6,804,919 5,644,612 455,827
LIABILITIES
------------ ------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 25,219,815 $ 77,219,458 $ 6,804,919 $ 5,644,612 $ 455,827
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
------------------------------------------
PARTICIPANT PRIME RESERVE
LOANS FUND TOTAL
------------ ------------- ------------
<S> <C> <C> <C>
ASSETS:
Investments, at fair value (Note 4):
Common stock of Plan sponsor $ - $ - $ 49,487,438
Mutual funds 407,517,888
Participant loans receivable 18,877,822 18,877,822
Other investments 455,827
Investment contracts, at contract value (Notes 3 and 4):
Group contracts with insurance companies 72,736,157
Synthetic group insurance contracts 94,654,078
Bank investment contracts 10,027,444
------------ ------------ ------------
Total investments 18,877,822 653,756,654
Cash and cash equivalents 45,935 8,963,245
Contributions receivable 1,802,216
------------ ------------ ------------
Total assets 18,877,822 45,935 664,522,115
LIABILITIES
------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 18,877,822 $ 45,935 $664,522,115
============ ============ ============
</TABLE>
See accompanying notes to financial statements.
3
<PAGE> 7
BECKMAN COULTER, INC. SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1997
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
-------------------------------------------------------------------------
BECKMAN BALANCED INTEREST EQUITY INDEX
STOCK FUND FUND INCOME FUND FUND FUND
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
ASSETS:
Investments, at fair value (Note 4):
Common stock of Plan sponsor $ 33,627,720 $ - $ - $ - $ -
Mutual funds 36,390,285 84,597,289 36,031,751
Participant loans receivable
Investment contracts, at contract value (Notes 3 and 4):
Group contracts with insurance companies 25,546,866
Synthetic group insurance contracts 57,630,834
Bank investment contracts 10,027,444
------------ ------------ ------------ ------------ ------------
Total investments 33,627,720 36,390,285 93,205,144 84,597,289 36,031,751
Cash and cash equivalents 66,350 1,636,529 2,754
Contributions receivable 5,501 4,370 11,856 10,030 10,119
Other receivables 3,691 20,263
------------ ------------ ------------ ------------ ------------
Total assets 33,703,262 36,394,655 94,873,792 84,607,319 36,044,624
LIABILITIES -
Amounts payable for investments 2,907 48,643
------------ ------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 33,703,262 $ 36,391,748 $ 94,873,792 $ 84,558,676 $ 36,044,624
============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
-------------------------------------------
INTERNATIONAL PARTICIPANT DISBURSEMENT
EQUITY FUND LOANS FUND TOTAL
------------- ------------ ------------ ------------
<S> <C> <C> <C> <C>
ASSETS:
Investments, at fair value (Note 4):
Common stock of Plan sponsor $ - $ - $ - $ 33,627,720
Mutual funds 8,687,994 165,707,319
Participant loans receivable 5,098,884 5,098,884
Investment contracts, at contract value (Notes 3 and 4):
Group contracts with insurance companies 25,546,866
Synthetic group insurance contracts 57,630,834
Bank investment contracts 10,027,444
------------ ------------ ------------ ------------
Total investments 8,687,994 5,098,884 297,639,067
Cash and cash equivalents 45,896 134,674 1,886,203
Contributions receivable 3,319 45,195
Other receivables 22,969 1,267 48,190
------------ ------------ ------------ ------------
Total assets 8,714,282 5,144,780 135,941 299,618,655
LIABILITIES -
Amounts payable for investments 2,832 54,382
------------ ------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $ 8,711,450 $ 5,144,780 $ 135,941 $299,564,273
============ ============ ============ ============
</TABLE>
See accompanying notes to financial statements.
4
<PAGE> 8
BECKMAN COULTER, INC. SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
----------------------------------------------------------------------------------
BECKMAN BLUE CHIP
COULTER INTEREST EQUITY GROWTH INDEX
STOCK FUND INCOME FUND FUND FUND FUND
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ 12,318,439 $ 167,276 $ (13,682,142) $ 48,995,992 $ 10,925,188
Interest 40,974 7,935,982 234,648 35,622
Dividends 527,014 584,563 3,599,481 1,033,856
------------- ------------- ------------- ------------- -------------
Total investment income 12,886,427 8,103,258 (13,097,579) 52,830,121 11,994,666
Contributions:
Beckman Coulter, Inc. 2,282,401 2,355,046 369,419 549,305 593,584
Retirement Plus (Employer) 22,910 457,566 1,349,429 15,642
Employees 1,931,575 3,977,901 4,279,734 3,012,907 4,173,650
------------- ------------- ------------- ------------- -------------
Total contributions 4,236,886 6,790,513 4,649,153 4,911,641 4,782,876
Participant loan repayments 299,174 849,173 553,220 826,832 472,113
Transfers from Coulter Corp. 83,432,590 107,948,023
------------- ------------- ------------- ------------- -------------
Net additions 17,422,487 99,175,534 (7,895,206) 166,516,617 17,249,655
Deductions from plan assets attributed to:
Participant loan withdrawals (304,456) (816,186) (613,694) (505,515) (545,614)
Distributions of benefits (2,179,479) (9,700,435) (4,573,076) (2,749,475) (3,441,958)
Administrative expenses and other (1,584) (2,751) (2,914) (1,209)
------------- ------------- ------------- ------------- -------------
Net deductions (2,485,519) (10,519,372) (5,186,770) (3,257,904) (3,988,781)
------------- ------------- ------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers 14,936,968 88,656,162 (13,081,976) 163,258,713 13,260,874
Net assets available for benefits,
beginning of year 33,703,262 94,873,792 84,558,676 36,044,624
Net interfund transfers 860,978 3,328,129 (71,476,700) 62,755,902 8,788,521
------------- ------------- ------------- ------------- -------------
Net assets available for benefits,
end of year $ 49,501,208 $ 186,858,083 $ - $ 226,014,615 $ 58,094,019
============= ============= ============= ============= =============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
-----------------------------------------------
INTERNATIONAL MID-CAP
EQUITY INTERNATIONAL GROWTH
FUND STOCK FUND FUND
------------- ------------- -------------
<S> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ (1,212,707) $ 938,130 $ 5,905,249
Interest 2,832 10,830 41,372
Dividends 361,284 515,309
------------- ------------- -------------
Total investment income (1,209,875) 1,310,244 6,461,930
Contributions:
Beckman Coulter, Inc. 165,955 75,318 130,673
Retirement Plus (Employer) 44,848 352,511
Employees 921,465 367,262 572,958
------------- ------------- -------------
Total contributions 1,087,420 487,428 1,056,142
Participant loan repayments 86,351 49,719 142,213
Transfers from Coulter Corp. 1,552,395 19,194,142
------------- ------------- -------------
Net additions (36,104) 3,399,786 26,854,427
Deductions from plan assets attributed to:
Participant loan withdrawals (93,456) (26,897) (46,282)
Distributions of benefits (612,932) (236,830) (611,584)
Administrative expenses and other (338) (908)
------------- ------------- -------------
Net deductions (706,388) (264,065) (658,774)
------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers (742,492) 3,135,721 26,195,653
Net assets available for benefits,
beginning of year 8,711,450
Net interfund transfers (7,968,958) 6,650,081 (975,838)
------------- ------------- -------------
Net assets available for benefits,
end of year $ - $ 9,785,802 $ 25,219,815
============= ============= =============
</TABLE>
See accompanying notes to financial statements.
5
<PAGE> 9
BECKMAN COULTER, INC. SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1998 (Continued)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
---------------------------------------------------------------------------------
PERSONAL PERSONAL PERSONAL
BALANCED STRATEGY STRATEGY STRATEGY TRADELINK+
FUND BALANCED FUND GROWTH FUND INCOME FUND FUND
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ (283,618) $ 6,051,759 $ 750,806 $ 330,600 $ 51,862
Interest 60,419 14,300 4,532
Dividends 1,089,736 3,321,808 268,519 130,957
------------- ------------- ------------- ------------- -------------
Total investment income 806,118 9,433,986 1,033,625 466,089 51,862
Contributions:
Beckman Coulter, Inc. 165,645 178,940 46,746 16,307
Retirement Plus (Employer) 379,246 128,768 59,133
Employees 1,925,744 1,162,380 216,905 92,128
------------- ------------- ------------- ------------- -------------
Total contributions 2,091,389 1,720,566 392,419 167,568
Participant loan repayments 232,450 245,854 41,751 16,546
Transfers from Coulter Corp. 32,827,820 5,840,647 3,992,005
------------- ------------- ------------- ------------- -------------
Net additions 3,129,957 44,228,226 7,308,442 4,642,208 51,862
Deductions from plan assets attributed to:
Participant loan withdrawals (290,120) (164,330) (5,119) (8,149)
Distributions of benefits (2,461,041) (754,189) (47,933) (9,436)
Administrative expenses and other (847) (29) (53)
------------- ------------- ------------- ------------- -------------
Net deductions (2,751,161) (919,366) (53,081) (17,638)
------------- ------------- ------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers 378,796 43,308,860 7,255,361 4,624,570 51,862
Net assets available for benefits,
beginning of year 36,391,748
Net interfund transfers (36,770,544) 33,910,598 (450,442) 1,020,042 403,965
------------- ------------- ------------- ------------- -------------
Net assets available for benefits,
end of year $ - $ 77,219,458 $ 6,804,919 $ 5,644,612 $ 455,827
============= ============= ============= ============= =============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
-----------------------------------------------
PARTICIPANT DISBURSEMENT PRIME RESERVE
LOANS FUND FUND TOTAL
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ (152,041) $ - $ 664 $ 71,105,457
Interest 343,923 22,791 8,748,225
Dividends 722 11,433,249
------------- ------------- ------------- -------------
Total investment income 191,882 22,791 1,386 91,286,931
Contributions:
Beckman Coulter, Inc. 2,248,369 9,177,708
Retirement Plus (Employer) 2,810,053
Employees 22,634,609
------------- ------------- ------------- -------------
Total contributions 2,248,369 34,622,370
Participant loan repayments (3,815,396)
Transfers from Coulter Corp. 13,982,633 268,770,255
------------- ------------- ------------- -------------
Net additions 10,359,119 2,271,160 1,386 394,679,556
Deductions from plan assets attributed to:
Participant loan withdrawals 3,419,818
Distributions of benefits (2,332,713) (29,711,081)
Administrative expenses and other (10,633)
------------- ------------- ------------- -------------
Net deductions 3,419,818 (2,332,713) (29,721,714)
------------- ------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers 13,778,937 (61,553) 1,386 364,957,842
Net assets available for benefits,
beginning of year 5,144,780 135,941 299,564,273
Net interfund transfers (45,895) (74,388) 44,549
------------- ------------- ------------- -------------
Net assets available for benefits,
end of year $ 18,877,822 $ - $ 45,935 $ 664,522,115
============= ============= ============= =============
</TABLE>
See accompanying notes to financial statements.
6
<PAGE> 10
BECKMAN COULTER, INC. SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1997
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
----------------------------------------------------------------------------------
BECKMAN BALANCED INTEREST EQUITY INDEX
STOCK FUND FUND INCOME FUND FUND FUND
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ 982,068 $ 2,879,199 $ 77,054 $ 13,161,298 $ 6,922,555
Interest 5,367 16,130 6,421,696 29,531 12,067
Dividends 471,973 1,370,158 1,324,591 499,966
------------- ------------- ------------- ------------- -------------
Total investment income 1,459,408 4,265,487 6,498,750 14,515,420 7,434,588
Contributions:
Beckman Instruments, Inc. 1,723,070 214,673 1,940,121 391,284 359,952
Employees 1,603,290 3,937,976 4,829,884 7,283,684 5,098,222
------------- ------------- ------------- ------------- -------------
Total contributions 3,326,360 4,152,649 6,770,005 7,674,968 5,458,174
Participant loan repayments 152,046 360,541 537,801 731,695 320,243
------------- ------------- ------------- ------------- -------------
Net additions 4,937,814 8,778,677 13,806,556 22,922,083 13,213,005
Deductions from plan assets attributed to:
Participant loan withdrawals (204,856) (387,201) (573,948) (783,243) (305,119)
Distributions of benefits (1,629,624) (2,170,252) (8,468,933) (3,652,179) (1,175,002)
Administrative expenses and other (219)
------------- ------------- ------------- ------------- -------------
Net deductions (1,834,699) (2,557,453) (9,042,881) (4,435,422) (1,480,121)
------------- ------------- ------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers 3,103,115 6,221,224 4,763,675 18,486,661 11,732,884
Net assets available for benefits,
beginning of year 29,808,833 32,260,491 97,073,847 64,832,988 19,630,220
Net interfund transfers 791,314 (2,089,967) (6,963,730) 1,239,027 4,681,520
------------- ------------- ------------- ------------- -------------
Net assets available for benefits,
end of year $ 33,703,262 $ 36,391,748 $ 94,873,792 $ 84,558,676 $ 36,044,624
============= ============= ============= ============= =============
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION BY FUND (NOTE 1)
----------------------------------------------------------------
INTERNATIONAL PARTICIPANT DISBURSEMENT
EQUITY FUND LOANS FUND TOTAL
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Additions to plan assets attributed to:
Net appreciation in fair value of
investments $ 64,677 $ - $ 31,630 $ 24,118,481
Interest 1,802 388,827 6,875,420
Dividends 254,750 3,921,438
------------- ------------- ------------- -------------
Total investment income 321,229 388,827 31,630 34,915,339
Contributions:
Beckman Instruments, Inc. 212,426 4,841,526
Employees 2,522,963 25,276,019
------------- ------------- ------------- -------------
Total contributions 2,735,389 30,117,545
Participant loan repayments 140,126 (2,242,452)
------------- ------------- ------------- -------------
Net additions 3,196,744 (1,853,625) 31,630 65,032,884
Deductions from plan assets attributed to:
Participant loan withdrawals (68,870) 2,323,237
Distributions of benefits (310,364) (102,012) (1,147,162) (18,655,528)
Administrative expenses and other (219)
------------- ------------- ------------- -------------
Net deductions (379,234) 2,221,225 (1,147,162) (18,655,747)
------------- ------------- ------------- -------------
Net increase (decrease) in net assets
available for benefits prior to
interfund transfers 2,817,510 367,600 (1,115,532) 46,377,137
Net assets available for benefits,
beginning of year 4,553,363 4,754,356 273,038 253,187,136
Net interfund transfers 1,340,577 22,824 978,435
------------- ------------- ------------- -------------
Net assets available for benefits,
end of year $ 8,711,450 $ 5,144,780 $ 135,941 $ 299,564,273
============= ============= ============= =============
</TABLE>
See accompanying notes to financial statements.
7
<PAGE> 11
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997
- --------------------------------------------------------------------------------
1. DESCRIPTION OF PLAN
The following description of Beckman Coulter, Inc. Savings Plan (the Plan)
provides only general information. Participants should refer to the Plan
agreement for a complete description of the Plan's provisions.
General - Beckman Coulter, Inc. (the Company) established and adopted the
Plan effective August 1, 1989.
The Plan is a defined contribution plan covering substantially all Company
employees who have completed a three-month period of employment within the
Company. The Plan is subject to the provisions of the Employee Retirement
Income Security Act of 1974 (ERISA). The Plan is administered by the
Corporate Benefits Committee (the Committee), whose members are appointed
by the Board of Directors of the Company.
During October 1997, the Company acquired Coulter Corporation (Coulter)
and formally changed its name to Beckman Coulter, Inc. during 1998. In
connection with this acquisition, the name of the Beckman Stock Fund was
changed to the Beckman Coulter Stock Fund during April 1998.
On September 1, 1998, the Beckman Instruments Inc. Savings and Investment
Plan was merged with the Coulter defined contribution plan. The Plan was
amended and restated in its entirety as of that date, and assets under the
Beckman Plan were transferred from Mellon Trust to T. Rowe Price. Under
the restated Plan, the name of the Plan was changed to the Beckman
Coulter, Inc. Savings Plan. The new plan was modified to include
additional investment options, higher matching contributions related to
the Beckman Coulter Stock Fund, and immediate vesting on the Company's
contributions.
In the September 1, 1998 transfer, Beckman net assets available for
benefits of $301,905,269 were transferred from Mellon Trust to T. Rowe
Price. Additionally, on September 1, 1998, net assets available for
benefits of $268,770,255 in the Coulter Corp. Savings Plan were
transferred to the Beckman Coulter, Inc. Savings Plan.
Contributions - Participants may elect to contribute up to 15% of their
eligible pay and up to 80% of their bonus in the form of pretax and/or
after-tax withholdings. Each participant's pretax contributions in the
calendar year may not exceed $10,000 and $9,500 in 1998 and 1997,
respectively.
Company-matching contributions to the Plan are allocated to participants
based on a specified percentage of actual employee contributions.
Forfeitures are applied to reduce the Company's contributions.
In addition, employees of Coulter become a participant in Retirement Plus
on the first day following completion of 12 months of service. Each
quarter, the Company makes contributions to participants' Retirement Plus
account. These contributions consist of a basic contribution which ranges
from 3% to
8
<PAGE> 12
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
9% of eligible pay for the quarter, and an excess contribution which
ranges from zero to 4% of eligible pay that is above the Social Security
taxable wage base for the year. Both ranges are based on the participant's
age.
Upon commencement of benefit payments, participants are subject to federal
income tax on the receipt of participant pretax contributions, Company
matching contributions, and earnings on all contributions.
Investment Options - Participants have a choice of nine core investment
funds for their contributions. Company contributions may be directed to
any of the nine core investment funds. Participants have the right to
elect investment options upon enrollment or re-enrollment into the Plan.
Additionally, participants may elect to change their investment options
and to transfer their account balances among the different investment
funds on a daily basis.
Income on investment funds is allocated to participants' accounts based on
the participants' investment fund balance as a percentage of the total
investment fund balance.
The following description of each investment fund has been extracted from
information contained in the respective fund's prospectus:
Beckman Coulter Stock Fund - Funds are invested in Beckman Coulter,
Inc. common stock.
Interest Income Fund - Funds are invested in a portfolio of group
annuity contracts issued by major insurance companies and investment
contracts with banks. The fund is managed by Dwight Asset
Management.
Equity Fund - Funds were invested in a portfolio of common stocks to
meet the objectives of long-term growth of capital and income. The
fund was managed by The Vanguard Group, under the name Windsor Fund.
Investments in the fund at September 1, 1998, were liquidated, and
the cash was used to purchase shares in the Blue Chip Growth Fund.
Blue Chip Growth Fund - Funds are invested in large and medium-sized
companies that the fund manager believes are well established and
have the potential for above-average growth. The fund is managed by
T. Rowe Price.
Index Fund - Funds are invested in all of the stocks included in the
S&P 500 Index in approximately the same proportions as they are
represented in the S&P 500 Index. The fund is managed by the
Vanguard Group, under the name Vanguard Institutional Index Trust.
9
<PAGE> 13
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
International Equity Fund - Funds were invested in stocks and other
equity-based forms of investment in companies operating principally
outside the United States. The fund was managed by Templeton
Franklin Investment Services under the name Templeton Funds Inc.
Foreign Fund. Investments in the fund at September 1, 1998, were
liquidated and the cash was used to purchase shares in the
International Stock Fund.
International Stock Fund - Funds are invested in stocks and other
equity-based forms of investments in companies operating principally
outside the United States. The fund is managed by T. Rowe Price.
Mid-Cap Growth Fund - Fund seeks long-term growth. It invests in the
common stocks of medium-sized companies. The fund is managed by T.
Rowe Price.
Balanced Fund - Funds were invested primarily in stocks, bonds, and
cash. The stock portfolio consists of large, intermediate, and small
companies. The bond portfolio consisted of U.S. Treasury, U.S.
Agency, and corporate issued. The fund was managed by Brinson
Partners, Inc., under the name of U.S. Balanced Fund. Investments in
the fund at September 1, 1998, were liquidated, and the cash was
used to purchase shares in the Personal Strategy Balanced Fund.
Personal Strategy Balanced Fund - Fund seeks long-term capital
appreciation and income by investing in stocks, bonds, and money
market securities. The fund is managed by T. Rowe Price.
Personal Strategy Growth Fund - Fund seeks long-term capital
appreciation and, secondarily, income by investing in stocks, bonds,
and money market securities. The fund is managed by T. Rowe Price.
Personal Strategy Income Fund - Fund seeks to provide income and,
secondarily, long-term capital appreciation by investing in stocks,
bonds, and money market securities. The fund is managed by T. Rowe
Price.
Tradelink+ Fund - In addition to the investment funds listed above,
employees may also transfer funds to Tradelink+. Tradelink+ offers
discount brokerage services that participants can invest in
individual stocks, bonds, mutual funds, and other securities.
Participants may transfer a minimum of $2,500 to a maximum of 25% of
overall Plan balance, less any outstanding loan amounts. Transfers
to the fund can be performed at any time, but may not be made from
funds which have come from Company matching contributions. Funds may
be transferred out of the fund to any of the other nine funds at any
time.
The Disbursement Fund, which was managed by Mellon Trust, was used
as a temporary placement account for in-transit funds which had not
yet been accounted for in the core funds. The Prime Reserve Fund was
established in 1998 by the new trustee, T. Rowe Price, and functions
in a similar manner to that of the Disbursement Fund.
10
<PAGE> 14
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
Participant Loans - 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% of
their account balance. Repayment is generally required within five years
or up to 15 years for the purchase of a principal residence. The loans are
secured by the balance in the participants' account and bear interest at
prime rate plus 1%, determined at the beginning of each quarter (8.75% at
December 31, 1998, for new loans).
Participant Accounts - Each participant's account is credited with (a) the
participant's contributions, (b) the Company's matching contribution, and
(c) Plan earnings. The benefit to which a participant is entitled is the
benefit that can be provided from the participant's vested balance.
Benefits and Vesting - Participants become entitled to payment of the
total vested value of their accounts at the time of termination,
retirement, permanent layoff, permanent disability, or death. If total
vested value is greater than $5,000, the participants may elect to
postpone their distribution until the year following the year they attain
age 70 1/2.
Participants' interests in the Company's contributions, income, gains, and
losses on investments become fully vested immediately upon enrolling in
the Plan, except for Retirement Plus contributions, which vest after five
years of employment. Participants also become fully vested in Retirement
Plus upon reaching normal retirement age, death, or permanent disability.
Participants immediately vest in the value of their own contributions.
Benefits Payable - At December 31, 1998 and 1997, the amounts of benefits
payable to participants who have withdrawn from participation in the Plan
were $249,720 and $1,964,147, respectively. Such amounts are not
considered liabilities for financial reporting purposes, and accordingly,
the balances are not included in the deductions from Plan assets
attributed to distribution of benefits for the years ended December 31,
1998 and 1997.
Continuation of the Plan - The Company anticipates and believes the Plan
will continue without interruption but reserves the right to discontinue
the Plan. If the Plan is terminated by the Company, the accounts of all
affected participants become 100% vested and nonforfeitable without regard
to the years of service of participants.
Risks and Uncertainties - The Plan provides for various investment options
in any combination of equity, fixed-income, and other investment
securities. Investment securities are exposed to various risks, such as
interest rate, market, and credit. Due to the level of risk associated
with certain investment securities and the level of uncertainty related to
changes in the value of investment securities, it is at least reasonably
possible that changes in risks in the near term could materially affect
participants' account balances and the amounts reported in the statements
of net assets available for benefits and the statement of changes in net
assets available for benefits.
11
<PAGE> 15
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting - The accompanying financial statements have been
prepared on the accrual basis of accounting.
Investment Valuation - Investments are stated at fair value except for
guaranteed investment contracts which are stated at contract value (Note
3). The fair value of the common stock is based on quotations obtained
from national securities exchanges on the last business day of the Plan
year. The fair values of the mutual funds and commingled funds are based
on the net asset value reported by the funds. The purchases and sales of
securities are recorded as of the date of trade. The average cost method
is used in determining gains and losses on the sales of securities.
Administrative Expenses - Principally all of the Plan's administrative
expenses are paid by the Company. The Company has elected to pay these
administrative expenses on behalf of the Plan but reserves the right to
change this election. Such expenses amounted to approximately $581,000 and
$438,000 for the years ended December 31, 1998 and 1997, respectively.
Use of Estimates - The preparation of the 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.
Cash and Cash Equivalents - The Plan considers all highly liquid
investments purchased with an original maturity of three months or less to
be cash equivalents.
Reclassifications - Certain reclassifications have been made to the 1997
financial statements to conform to the 1998 financial statement
presentation.
3. VALUATION OF INVESTMENT CONTRACTS
The Plan's investment contracts are fully benefit-responsive and have an
estimated fair value that equals their contract value of $177,417,679 and
$93,205,144 at December 31, 1998 and 1997, respectively. The Plan's
investment contracts earn interest at rates ranging from 5.36% to 8.99% at
December 31, 1998 and 6.25% to 8.00% at December 31, 1997.
12
<PAGE> 16
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
4. ASSETS HELD FOR INVESTMENT
Information regarding assets held for investment as of December 31, 1998
and 1997, is as follows:
<TABLE>
<CAPTION>
1998 1997
-------------------------------- --------------------------------
FAIR/CONTRACT FAIR/CONTRACT
COST VALUE COST VALUE
<S> <C> <C> <C> <C>
Common stock -
Beckman Coulter, Inc. $ 50,424,255 $ 49,487,438 $ 33,194,649 $ 33,627,720
Mutual funds:
Blue Chip Growth Fund 208,734,410 225,296,077 75,638,657 84,597,289
Vanguard Institutional
Index Fund 47,014,171 58,063,725 28,636,846 36,031,751
International Stock Fund 9,051,857 9,760,586 9,099,430 8,687,994
Mid-Cap Growth Fund 24,944,535 25,034,153
Personal Strategy -
Balanced Fund 74,183,987 77,014,857 35,962,276 36,390,285
Personal Strategy -
Growth Fund 6,734,299 6,736,634
Personal Strategy -
Income Fund 5,607,647 5,611,856
------------ ------------ ------------ ------------
Total mutual funds 376,270,906 407,517,888 149,337,209 165,707,319
Other investments:
Tradelink+ Fund 455,827 455,827
Participant loans
receivable 18,877,822 18,877,822 5,098,884 5,098,884
</TABLE>
13
<PAGE> 17
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
1998 1997
------------------------------ ------------------------------
FAIR/CONTRACT FAIR/CONTRACT
COST VALUE COST VALUE
<S> <C> <C> <C> <C>
Interest Income Fund:
Group insurance
contracts:
Aetna - GIC 14363 $13,807,654 $13,807,654 $ -- $ --
GE Life & Annuity - GS 10,144,583 10,144,583
Hartford - GA 9523C 7,811,960 7,811,960
John Hancock
GAC 7543 9,608,397 9,608,397
GIC 8818 5,547,791 5,547,791 5,210,172 5,210,172
Metropolitan
Life Plan - 13014 10,728,297 10,728,297
New York Life -
GA 30050 13,473,312 13,473,312
Prudential - 8089-211 21,950,857 21,950,857
----------- ----------- ----------- -----------
72,736,157 72,736,157 25,546,866 25,546,866
Synthetic Group
Insurance Contracts:
Citibank Contract #1 9,487,302 9,487,302
Credit Suisse Financial 5,729,809 5,729,809
Credit Suisse 77441-01
GIC 15,338,583 15,338,583 9,947,876 9,947,876
Monumental -
BDA 00039TR 8,354,864 8,354,864
People's Security Life:
GIC - BDA00039TR-5 3,783,533 3,783,533
FGIC Policy 92010300,
Contract 2983 4,967,595 4,967,595
Contract
#BDA00039TR-4 2,374,710 2,374,710
State Street Synthetic -
Contract 97077 30,636,507 30,636,507 5,669,087 5,669,087
Transamerica:
Contract #7660 8,030,155 8,030,155
Contract #76850 35,235,916 35,235,916
UBS Agreement -
Contract 2077 5,088,208 5,088,208 7,640,767 7,640,767
----------- ----------- ----------- -----------
94,654,078 94,654,078 57,630,834 57,630,834
</TABLE>
14
<PAGE> 18
BECKMAN COULTER, INC. SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997 (CONTINUED)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
1998 1997
--------------------------------- ---------------------------------
FAIR/CONTRACT FAIR/CONTRACT
COST VALUE COST VALUE
<S> <C> <C> <C> <C>
Bank investment
contracts:
Lehman GIC
#101121895G $ 10,027,444 $ 10,027,444 $ 10,027,444 $ 10,027,444
------------ ------------ ------------ ------------
Total interest income
fund 177,417,679 177,417,679 93,205,144 93,205,144
------------ ------------ ------------ ------------
Total assets held for
investments $623,446,489 $653,756,654 $280,835,886 $297,639,067
============ ============ ============ ============
</TABLE>
The Plan investments which exceed 5% of net assets available for benefits
as of December 31, 1998 and 1997, are as follows:
<TABLE>
<CAPTION>
DESCRIPTION OF INVESTMENT 1998 1997
<S> <C> <C>
Common stock of Plan sponsor $ 49,487,438 $ 33,627,720
Mutual funds 407,517,888 165,707,319
Group contracts with insurance companies 72,736,157 25,546,866
Synthetic GICs 94,654,078 57,630,834
</TABLE>
5. TAX STATUS
The Plan is intended to be qualified under Section 401(a) of the Internal
Revenue Code of 1986 (the Code) and is intended to be exempt from taxation
under Section 501(a) of the Code. The Plan received a favorable Internal
Revenue Service determination letter dated October 1, 1990. The Plan has
been amended since receiving the determination letter. However, the Plan
administrator and the Plan's tax counsel believe that the Plan is
currently designed and being operated in compliance with the applicable
requirements of the Code and the related trust was tax-exempt as of the
financial statement date. Therefore, no provision of income taxes has been
included in the Plan's financial statements.
15
<PAGE> 19
SUPPLEMENTAL SCHEDULES
<PAGE> 20
BECKMAN COULTER, INC. SAVINGS PLAN
LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
SHARES CURRENT
DESCRIPTION OF INVESTMENT OR UNITS COST VALUE
<S> <C> <C> <C>
COMMON STOCK -
Beckman Coulter, Inc. 912,211 $ 50,424,255 $ 49,487,438
BLUE CHIP GROWTH FUND
T. Rowe Price Blue Chip Growth Fund 7,362,617 208,734,410 225,296,077
INDEX FUND
Vanguard Institutional Index Fund 514,521 47,014,171 58,063,725
INTERNATIONAL STOCK FUND
T. Rowe Price International Stock Fund 651,140 9,051,857 9,760,586
MID-CAP GROWTH FUND
T. Rowe Price Mid-Cap Growth Fund 734,570 24,944,535 25,034,153
PERSONAL STRATEGY - BALANCED FUND
T. Rowe Price Personal Strategy Balanced Fund 4,843,702 74,183,987 77,014,857
PERSONAL STRATEGY - GROWTH FUND
T. Rowe Price Personal Strategy Growth Fund 368,122 6,734,299 6,736,634
PERSONAL STRATEGY - INCOME FUND
T. Rowe Price Personal Strategy Income Fund 422,898 5,607,647 5,611,856
OTHER INVESTMENTS
Tradelink + Fund 455,827 455,827 455,827
</TABLE>
16
<PAGE> 21
BECKMAN COULTER, INC. SAVINGS PLAN
LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1998 (CONTINUED)
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
INTEREST MATURITY CURRENT
DESCRIPTION OF INVESTMENT RATE DATE COST VALUE
<S> <C> <C> <C> <C>
INTEREST INCOME FUND -
Group insurance contracts:
Aetna - GIC 14363 6.500% 11/17/00 $ 13,807,654 $ 13,807,654
GE Life & Annuity - GS 3175 5.550% 7/1/01 3,381,528 3,381,528
5.550% 7/1/02 1,690,763 1,690,763
5.550% 7/1/03 5,072,292 5,072,292
Hartford - GA 9523C 6.400% 9/30/99 7,811,960 7,811,960
John Hancock - GIC 8818 6.480% 6/15/00 5,547,791 5,547,791
New York Life - GA 30050 8.990% 9/30/99 13,473,312 13,473,312
Prudential - 8089-211 6.380% 9/30/99 21,950,857 21,950,857
------------ ------------
Total group insurance contracts 72,736,157 72,736,157
Synthetic group insurance contracts:
Credit Suisse 77441-01 GIC 7.320% Evergreen 15,338,583 15,338,583
Monumental - BDA 00039TR 5.358% Buy & Hold 8,354,864 8,354,864
State Street Synthetic - Contract 97077 6.420% Evergreen 30,636,507 30,636,507
Transamerica Life #76850 5.790% Evergreen 35,235,916 35,235,916
UBS Agreement - Contract 2077 6.500% Evergreen 5,088,208 5,088,208
------------ ------------
Total synthetic group insurance contracts 94,654,078 94,654,078
Bank investment contracts -
Lehman GIC #101121895G 6.305% 12/17/01 10,027,444 10,027,444
------------ ------------
Total bank investment contracts 10,027,444 10,027,444
Participant loans receivable (interest
ranging from 8.25% to 9.25%) 18,877,822 18,877,822
------------ ------------
Total investments $623,446,489 $653,756,654
============ ============
</TABLE>
17
<PAGE> 22
BECKMAN COULTER, INC. SAVINGS PLAN
LINE 27d - SCHEDULE OF REPORTABLE SERIES OF TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
NO. OF IDENTITY OF PURCHASE COST OF NET GAIN
TRANSACTIONS PARTY INVOLVED DESCRIPTION OF ASSET PRICE SELLING PRICE ASSET (LOSS)
<S> <C> <C> <C> <C> <C> <C>
266 Beckman Coulter, Inc. Common Stock Fund $ 12,457,649 $ - $ 12,457,649 $ -
196 Beckman Coulter, Inc. Common Stock Fund 8,646,135 5,560,649 3,085,486
66 Brinson Balanced Fund 3,948,292 3,948,292
100 Brinson Balanced Fund 40,052,052 39,907,662 144,390
74 Templeton International Equity Fund 4,760,020
83 Templeton International Equity Fund 12,258,275 13,883,507 (1,625,232)
57 Vanguard Equity Fund 5,147,994
104 Vanguard Equity Fund 76,063,140 80,786,652 (4,723,512)
192 Vanguard Index Fund 19,731,571
90 Vanguard Index Fund 8,691,753 6,988,467 1,703,286
211 Mellon Bank N.A. TBC Inc. Pooled Employee 44,057,059
193 Mellon Bank N.A. TBC Inc. Pooled Employee 45,894,308 45,894,308
19 State Street Synthetic GIC 31,021,427
17 State Street Synthetic GIC 6,053,535 6,053,535
20 Transamerica Synthetic GIC 38,020,140
15 Transamerica Synthetic GIC 10,783,684 10,783,684
</TABLE>
18
<PAGE> 23
BECKMAN INSTRUMENTS, INC.
SAVINGS AND INVESTMENT PLAN
LINE 27d - SCHEDULE OF REPORTABLE SINGLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
CURRENT
VALUE OF
IDENTITY OF DESCRIPTION ASSET OF
NO. OF PARTY OF PURCHASE SELLING COST OF TRANSACTION
TRANSACTIONS INVOLVED ASSET PRICE PRICE ASSET DATE NET LOSS
<S> <C> <C> <C> <C> <C> <C> <C>
1 Brinson Balanced Fund $ - $ 35,235,261 $ 35,299,025 $ 35,235,261 $ (63,764)
1 Vanguard Equity Fund 66,353,560 72,358,087 66,353,560 (6,004,527)
1 T. Rowe Price Personal Strategy - 35,235,261 35,235,261 35,235,261
Balanced Fund
1 T. Rowe Price Blue Chip 66,353,560 66,353,560 66,353,560
</TABLE>
19
<PAGE> 24
SIGNATURES
The Plan. Pursuant to the requirements of the Securities and Exchange Act of
1934, the trustees (or other persons who administer the Plan) have duly caused
this annual report to be signed by the undersigned hereunto duly authorized.
BECKMAN COULTER, INC.
SAVINGS PLAN
By: Beckman Coulter, Inc.
Benefits Committee
Date: September 13, 1999 By: /s/ FIDENCIO M. MARES
Fidencio M. Mares
Its: Committee Chairman
Vice President - Human Resources
<PAGE> 25
INDEX TO EXHIBITS
Exhibit
Number Description
- ------- -----------
23.1 Consent of Deloitte & Touche LLP
<PAGE> 1
EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement (No.
333-72081) of Beckman Coulter, Inc. on Form S-8 of our report dated June 4,
1999, appearing in the Annual Report on form 11-K of Beckman Coulter, Inc.
Savings Plan for the year ended December 31, 1998.
/s/ DELOITTE & TOUCHE LLP
Deloitte & Touche LLP
Costa Mesa, California
September 13, 1999
