<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------------------------------------------------------
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE TWELVE-MONTH PERIOD ENDED
DECEMBER 31, 1997
-----------------------------------------------------------------------
For the twelve-month period ended December 31, 1997.
Commission file number: 1-4188
A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
RUBBERMAID RETIREMENT PLAN FOR COLLECTIVELY-BARGAINED ASSOCIATES
B. Name of issuer of the securities held pursuant to the plan and the address
of its principal executive office:
Rubbermaid Incorporated
1147 Akron Road
Wooster, Ohio 44691-6000
<PAGE> 2
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Plan has duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Dated: June 26, 1998 /s/ William R. Connor
------------------------
William R. Connor
<PAGE> 3
[KPMG Peat Marwick LLP Letterhead]
INDEPENDENT AUDITORS' CONSENT
-----------------------------
The Board of Directors
Rubbermaid Incorporated:
We consent to incorporation by reference in the registration statement (No.
33-61817) on Form S-8 of Rubbermaid Incorporated of our report dated June 17,
1998, relating to the statements of assets available for benefits of the
Rubbermaid Retirement Plan for Collectively-Bargained Associates as of December
31, 1997 and 1996, and the related statement of changes in assets available for
benefits for the year ended December 31, 1997, which report appears in the
December 31, 1997 annual report on Form 11-K of Rubbermaid Incorporated.
KPMG Peat Marwick LLP
/s/ KPMG Peat Marwick LLP
Cleveland, Ohio
June 23, 1998
<PAGE> 4
[KPMG PEAT MARWICK LLP LOGO]
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Financial Statements
December 31, 1997 and 1996
(With Independent Auditors' Report Thereon)
<PAGE> 5
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Table of Contents
-----------------
Independent Auditors' Report
Statements of Assets Available for Benefits, with Fund Information
December 31, 1997 and 1996
Statement of Changes in Assets Available for Benefits, with Fund Information
Year ended December 31, 1997
Notes to Financial Statements
<PAGE> 6
[KPMG PEAT MARWICK LLP LETTERHEAD]
INDEPENDENT AUDITORS' REPORT
----------------------------
Plan Administrator of
Rubbermaid Retirement Plan for
Collectively-Bargained Associates:
We have audited the accompanying statements of assets available for benefits of
the Rubbermaid Retirement Plan for Collectively-Bargained Associates (Plan) as
of December 31, 1997 and 1996, and the related statement of changes in assets
available for benefits for the year ended December 31, 1997. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the assets available for benefits of the Plan as of
December 31, 1997 and 1996, and the changes in assets available for benefits for
the year ended December 31, 1997, in conformity with generally accepted
accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements of the Plan taken as a whole. The Fund Information in the
statements of assets available for benefits and the statement of changes in
assets available for benefits is presented for purposes of additional analysis
rather than to present the assets available for benefits and changes in assets
available for benefits of each fund. The supplemental Fund Information has been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
/s/ KPMG Peat Marwick LLP
Cleveland, Ohio
June 17, 1998
<PAGE> 7
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Statement of Assets Available for Benefits, with Fund Information
December 31, 1997
<TABLE>
<CAPTION>
Participant Directed
---------------------------------------------------------------------------
Spartan
Equity Fixed Stable U.S. Equity Fidelity
Index Income Value Stock Index Puritan
Fund Fund Fund Fund Fund Fund
---------- ---------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Plan interest in investments
of the Rubbermaid
Master Trust $ - - 61,920,313 - 46,001,069 7,538,652
Receivables:
Employer contribution - - - - - -
Participant contribution - - - - - -
---------- ---------- ---------- ---------- ---------- ----------
Assets available
for benefits $ - - 61,920,313 - 46,001,069 7,538,652
========== ========== ========== ========== ========== ==========
</TABLE>
See accompanying notes to financial statements.
<PAGE> 8
<TABLE>
<CAPTION>
Participant Directed
- -----------------------------------------------------------------------------------------------
Fidelity Fidelity Rubbermaid
Fidelity Small Cap Diversified Unitized
Magellan Fidelity Selector International Stock Loan Combined
Fund Contrafund Fund Fund Fund Fund Other Funds
- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
9,383,678 6,730,232 1,038,715 3,021,570 984,567 1,643,007 - 138,261,803
- - - - - - 1,704,538 1,704,538
- - - - - - 333,336 333,336
- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
9,383,678 6,730,232 1,038,715 3,021,570 984,567 1,643,007 2,037,874 140,299,677
=========== =========== =========== =========== =========== =========== =========== ===========
</TABLE>
<PAGE> 9
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Statement of Assets Available for Benefits, with Fund Information
December 31, 1996
<TABLE>
<CAPTION>
Participant Directed
-------------------------------------------------------
Equity Fixed Stable
Index Income Value Stock
Fund Fund Fund Fund
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Plan interest in investments of the
Rubbermaid Master Trust $31,823,616 3,863,162 100,210,250 1,728,946
Receivables:
Employer contribution - - - -
----------- ----------- ----------- -----------
Assets available for benefits $31,823,616 3,863,162 100,210,250 1,728,946
=========== =========== =========== ===========
<CAPTION>
Participant Directed
-------------------------
Loan Combined
Fund Other Funds
----------- ----------- -----------
<S> <C> <C> <C>
Assets:
Investments, at fair value:
Plan interest in investments of the
Rubbermaid Master Trust 1,823,586 - 139,449,560
Receivables:
Employer contribution - 3,521,764 3,521,764
----------- ----------- -----------
Assets available for benefits 1,823,586 3,521,764 142,971,324
=========== =========== ===========
</TABLE>
See accompanying notes to financial statements.
<PAGE> 10
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Statement of Changes in Assets Available for Benefits, with Fund Information
Year ended December 31, 1997
<TABLE>
<CAPTION>
Participant Directed
-------------------------------------------------------------------------------------------
Spartan
Equity Fixed Stable U.S. Equity Fidelity
Index Income Value Stock Index Puritan
Fund Fund Fund Fund Fund Fund
------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Additions to assets attributed to:
Excess (deficiency) of net proceeds
over market value at beginning
of year:
Aggregate proceeds $ 53,126,391 5,047,410 68,348,685 1,168,430 13,737,185 35,585
Aggregate cost 36,354,301 5,060,157 68,089,273 666,518 13,387,798 35,517
------------ ------------ ------------ ------------ ------------ ------------
Net excess (deficiency) 16,772,090 (12,747) 259,412 501,912 349,387 68
Net change in unrealized appreciation
(depreciation) of securities (8,822,382) 33,390 1,782,527 (1,188,831) 2,720,642 14,726
Dividends - 171,935 1,605,662 28,926 560,548 228,734
Interest 11,725 1,705 1,808,149 613 15,622 1,965
Loan repayments 171,453 15,033 571,463 662 74,409 6,190
------------ ------------ ------------ ------------ ------------ ------------
8,132,886 209,316 6,027,213 (656,718) 3,720,608 251,683
Contributions:
Employer contribution 777,152 244,384 2,420,433 22,702 - -
Participant contributions 104,007 4,051 451,747 1,592 131,364 20,439
------------ ------------ ------------ ------------ ------------ ------------
881,159 248,435 2,872,180 24,294 131,364 20,439
------------ ------------ ------------ ------------ ------------ ------------
Total additions 9,014,045 457,751 8,899,393 (632,424) 3,851,972 272,122
Deductions from assets attributed to:
Benefits paid to participants 2,413,794 67,168 20,248,445 138,923 129,746 26,977
Loan disbursements 330,258 29,549 410,122 17,731 62,939 3,799
Miscellaneous 47,365 9,662 146,539 1,526 - -
------------ ------------ ------------ ------------ ------------ ------------
Total deductions 2,791,417 106,379 20,805,106 158,180 192,685 30,776
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease)
prior to transfers 6,222,628 351,372 (11,905,713) (790,604) 3,659,287 241,346
Net transfers (to) from other plans (102,782) (8,292) (46,139) (2,899) (151) (42)
Interfund transfers (37,943,462) (4,206,242) (26,338,085) (935,443) 42,341,933 7,297,348
------------ ------------ ------------ ------------ ------------ ------------
Net increase (decrease) (31,823,616) (3,863,162) (38,289,937) (1,728,946) 46,001,069 7,538,652
Assets available for benefits:
Beginning of year 31,823,616 3,863,162 100,210,250 1,728,946 - -
------------ ------------ ------------ ------------ ------------ ------------
End of year $ - - 61,920,313 - 46,001,069 7,538,652
============ ============ ============ ============ ============ ============
</TABLE>
See accompanying notes to financial statements.
<PAGE> 11
<TABLE>
<CAPTION>
Participant Directed
-----------------------------------------------------------------------------------------------------------
Fidelity Fidelity Rubbermaid
Fidelity Small Cap Diversified Unitized
Magellan Fidelity Selector International Stock Loan Combined
Fund Contrafund Fund Fund Fund Fund Other Funds
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
144,609 100,661 8,879 305,455 854,870 - - 142,878,160
147,580 100,803 9,397 307,865 459,746 - - 124,618,955
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
(2,971) (142) (518) (2,410) 395,124 - - 18,259,205
(225,435) (499,621) (49,883) (51,963) 475,946 - - (5,810,884)
396,982 555,193 59,908 115,514 - - - 3,723,402
4,862 2,881 942 2,706 536 117,545 - 1,969,251
16,703 12,352 2,401 7,538 514 (878,718) - -
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
190,141 70,663 12,850 71,385 872,120 (761,173) - 18,140,974
- - - - - - (1,817,226) 1,647,445
39,746 23,356 5,094 13,038 3,377 - 333,336 1,131,147
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
39,746 23,356 5,094 13,038 3,377 - (1,483,890) 2,778,592
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
229,887 94,019 17,944 84,423 875,497 (761,173) (1,483,890) 20,919,566
23,872 5,789 7,572 9,143 3,289 (78,174) - 22,996,544
1,882 16,238 485 6,709 712 (880,424) - -
- - 57 - - 229,117 - 434,266
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
25,754 22,027 8,114 15,852 4,001 (729,481) - 23,430,810
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
204,133 71,992 9,830 68,571 871,496 (31,692) (1,483,890) (2,511,244)
(84) - - (14) - - - (160,403)
9,179,629 6,658,240 1,028,885 2,953,013 113,071 (148,887) - -
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
9,383,678 6,730,232 1,038,715 3,021,570 984,567 (180,579) (1,483,890) (2,671,647)
- - - - - 1,823,586 3,521,764 142,971,324
------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------
9,383,678 6,730,232 1,038,715 3,021,570 984,567 1,643,007 2,037,874 140,299,677
============ ============ ============ ============ ============ ============ ============ ============
</TABLE>
<PAGE> 12
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
December 31, 1997 and 1996
(1) Description of the Plan
-----------------------
This Plan covers collectively-bargained associates located at the
Wooster, Ohio facility and participates in the Rubbermaid Master Trust as
set forth in the Master Trust agreement.
The following brief description of the Plan is provided for general
information purposes only. Participants should refer to the Plan document
for more complete information.
(a) General
-------
The Plan is a defined contribution profit sharing plan with a
401(k) feature. Participation in the Plan begins on January 1
coincident with or following an associate's date of hire.
Participation in the Plan is restricted to collectively-bargained
associates located at the Wooster, Ohio facility. The Plan is
subject to the provisions of the Employee Retirement Income
Security Act of 1974 (ERISA).
(b) Contributions
-------------
Annually, the Company contributes to the Plan for the Plan Year an
amount equal to 6 percent of the eligible compensation paid to its
employees during the Plan Year. A participant must be employed by
the Company at the end of the Plan year and complete at least
1,000 hours during the Plan year in order to be eligible to
receive a Company contribution, subject to limited exceptions.
In addition, the Company pays out to each employee up to 12
percent of their eligible compensation for the quarter, determined
in accordance with the terms of the collective bargaining
agreement between the Company and the United Steelworkers of
America, Rubber/Plastic Industry Conference, Local No. 302L. The
quarterly cash payout is based on the attainment of plant
performance goals and can be paid out in cash or deferred, as a
401(k) contribution, to the participant's account in the Plan.
(c) Participant Accounts
--------------------
Separate accounts are maintained for each participant.
Contributions are invested, as instructed by the participants, in
one or more of the available investment funds. Each participant's
account is credited with the employee's contribution, if any, and
an allocation of the Company's contribution, Plan earnings, and
forfeitures of terminated participants' nonvested accounts.
(d) Vesting
-------
Participants are vested 100 percent in the portion of their
accounts attributable to 401(k) contributions plus earnings.
Vesting in the remainder of their accounts is based upon a
seven-year graduated vesting schedule. A participant becomes fully
vested after completing seven years of vesting service. Upon
death, disability, or attainment of age 65, participants become
fully vested.
(Continued)
<PAGE> 13
2
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
(e) Investments
-----------
All investments are participant-directed, and participants may
elect to invest their account in the Plan in one or more of the
eight investment funds held by the Plan. Currently, the available
investment funds include: (a) Stable Value Fund, comprised
primarily of guaranteed principal and interest contracts with
major financial institutions and insurance companies; (b) Spartan
U.S. Equity Index Fund, which invests primarily in the 500
companies that comprise the Standard & Poor's 500 and in other
securities that are based on the value of the index; (c) Fidelity
Puritan Fund, which invests in a broadly diversified portfolio of
high-yielding equity and debt securities; (d) Fidelity Magellan
Fund, which invests primarily in equity securities of domestic,
foreign, and multinational issuers of all sizes that offer
potential for growth; (e) Fidelity Contrafund, which invests
mainly in equity securities of companies that are undervalued or
out-of-favor; (f) Fidelity Small Cap Selector Fund, which invests
mainly in equity securities of companies with small market
capitalizations that are determined to be undervalued compared to
others in their industries; (g) Fidelity Diversified International
Fund, which invests mainly in foreign equity securities that are
determined to be undervalued compared to others in their
industries and countries; and (h) Rubbermaid Unitized Stock Fund,
which invests in common stock of Rubbermaid Incorporated.
For investment purposes only, investments of the Plan are
commingled with the investments of the Rubbermaid Retirement Plan.
Collectively, such funds comprise the Rubbermaid Master Trust
(Master Trust) with Fidelity Management Trust Company as the
trustee. Allocation of the Master Trust investments and income
among plans is determined on the basis of the value of the
participant accounts attributed to each plan.
(f) Payment of Benefits
-------------------
A participant is eligible to receive a distribution upon
termination of employment, in either a lump-sum cash payment equal
to the value of his or her vested account or periodic payments in
such amounts as elected by the participant (subject to provisions
of the Plan). The amount to be paid shall not exceed the
participant's vested interest.
(g) Participant Loans
-----------------
Loans of up to 50 percent of the vested portion of the
participant's individual account may be obtained for qualified
participants. The maximum loan permissible is generally the lesser
of $50,000 or one-half of the participant's vested balance.
(Continued)
<PAGE> 14
3
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
(2) Significant Accounting Policies
-------------------------------
(a) Basis of Presentation
---------------------
The accompanying financial statements have been prepared on the
accrual basis of accounting.
(b) Investment Valuation and Income Recognition
-------------------------------------------
Unrealized appreciation or depreciation, equal to the difference
between the cost and the market value of investments at the
applicable valuation date, is recognized in determining the value
of participant accounts. The excess (deficiency) of net proceeds
over market value calculation methodology is based on the revalued
cost of assets instead of historical cost. The revalued cost is
the market value of an asset at the beginning of the Plan year or
at the time of purchase during the year.
The Plan's investments are stated at fair value except for the
guaranteed principal and interest contracts included in the Stable
Value Fund, which are stated at contract value (see note 2[c]).
Purchases and sales of securities are recorded on a trade date
basis.
(c) Guaranteed Principal and Interest Contracts
-------------------------------------------
The Master Trust has guaranteed principal and interest contracts
with major financial institutions and insurance companies, as
discussed in note 5. These investments are part of the Stable
Value Fund at December 31, 1997 and 1996. These contracts are
included in the financial statements at contract value, as noted
above, because they are fully benefit-responsive.
(d) Payment of Benefits
-------------------
Benefits are recorded when paid.
(e) Administrative Expenses
-----------------------
All normal costs and expenses of administering the Plan and Trust
are paid by the Plan. Any cost resulting from a participant
obtaining a loan may be borne by such participant or charged to
the participant's individual account.
(f) Use of Estimates
----------------
The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of
assets and liabilities at the date of the financial statements and
the reported amounts of changes in assets available for benefits
during the reporting period. Actual results could differ from
those estimates.
(Continued)
<PAGE> 15
4
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
(3) Plan Termination
----------------
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions of ERISA. In the event of
Plan termination, participants will become 100 percent vested in their
accounts, and the Trustee shall distribute the assets in accordance with
the terms of the Plan and the trust agreement.
(4) Tax Status
----------
The Internal Revenue Service has determined and informed the Company by
letter dated November 20, 1996, that the Plan and related trust are
designed in accordance with applicable sections of the Internal Revenue
Code (IRC). Therefore, no provision for income taxes has been included in
the Plan's financial statements. As described in note 6, the Plan was
amended effective January 1, 1997. The plan administrator and the Plan's
tax counsel do not believe that this amendment will have any negative
impact on compliance with the applicable requirements of the IRC.
(5) Master Trust Financial Information
----------------------------------
As described in note 1(e), all of the Plan's investments are contained in
a Master Trust along with a portion of the investments of the Rubbermaid
Retirement Plan. The Master Trust fund assets at December 31, 1997 and
1996, are as follows:
<TABLE>
<CAPTION>
1997 1996
------------------------- --------------------------
Plan's Plan's
Percentage Percentage
Market Interest Market Interest
Value (Rounded) Value (Rounded)
------ ---------- ------ ----------
<S> <C> <C> <C> <C>
Equity Index Fund $ - 31,823,616 100%
Fixed Income Fund - 3,863,162 100
Stable Value Fund 210,402,030 29% 305,726,826 33
Stock Fund - 1,728,946 100
Spartan U.S. Equity Index Fund 105,294,786 44 -
Fidelity Puritan Fund 21,806,761 35 -
Fidelity Magellan Fund 26,393,970 36 -
Fidelity Contrafund 25,337,061 27 -
Fidelity Small Cap Selector Fund 8,764,941 12 -
Fidelity Diversified International Fund 9,583,013 32 -
Rubbermaid Unitized Stock Fund 9,212,167 11 -
Loan Fund 9,293,110 18 1,823,586 100
------------ ------------
Total investments held by
the Master Trust fund $426,087,839 32% 344,966,136 40%
============ ============
</TABLE>
(Continued)
<PAGE> 16
5
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
The Master Trust has investment contracts with major financial
institutions and insurance companies with respect to the Stable Value
Fund. Fidelity Management Trust Company maintains the contributions in a
pooled account. The account is credited with actual earnings on the
underlying investments and charged for Plan withdrawals and
administration expenses charged by Primco, the investment manager. The
contract is included in the financial statements at contract value, which
approximates fair value. Contract value represents contributions made
under the contract, plus earnings, less Plan withdrawals and
administrative expenses. There are no reserves against contract value for
credit risk of the contract issuer or otherwise. At December 31, 1997 and
1996, the fair value of the guaranteed principal and interest contracts
of the Rubbermaid Retirement Plan for Collectively-Bargained Associates
was $17,873,425 and $52,740,788, respectively, and the corresponding
contract value was $17,805,424 and $52,571,322, respectively. Both the
average yield and the crediting interest rate were 6.03 percent as of
December 31, 1997 and were 6.52 percent as of December 31, 1996.
During 1996, the Master Trust comprised all investments of the Plan
commingled with the Stable Value Fund of the Rubbermaid Retirement Plan.
National City Bank remained trustee of the Master Trust at December 31,
1996. On September 1, 1997, all investments in the Plan and the Stable
Value Fund of the Rubbermaid Retirement Plan were transferred to Fidelity
Management Trust Company. Investments of the Plan are commingled with all
investments of the Rubbermaid Retirement Plan and included in the Master
Trust at December 31, 1997.
(Continued)
<PAGE> 17
6
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
A summary of Master Trust investment activity is as follows:
<TABLE>
<CAPTION>
Spartan
Equity Fixed Stable U.S. Equity Fidelity
Index Income Value Stock Index Puritan
Fund Fund Fund Fund Fund Fund
------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C>
Balance at
December 31, 1996 $ 31,823,616 3,863,162 305,726,826 1,728,946 - -
Contributions:
Employer 777,152 244,384 5,640,103 22,702 1,601,648 469,879
Participants 104,007 4,051 2,791,553 1,592 1,866,680 671,115
Net appreciation
(depreciation) in
fair value 7,949,708 20,643 6,093,312 (686,919) 17,074,352 1,273,039
Dividends - 171,935 4,299,640 28,926 1,903,418 1,388,924
Interest 11,725 1,705 5,393,533 613 154,535 38,765
Loan repayments 171,453 15,033 1,784,601 662 693,067 148,628
Benefit payments (2,413,794) (67,168) (45,838,418) (138,923) (5,235,225) (718,941)
Loan disbursements (330,258) (29,549) (3,012,159) (17,731) (962,302) (162,267)
Interfund (37,943,462) (4,206,242) (71,192,238) (935,443) 35,648,210 18,894,587
Transfers (102,782) (8,292) (660,740) (2,899) (841,604) (258,573)
Other (47,365) (9,662) (623,983) (1,526) 53,392,007 61,605
------------ ------------ ------------ ------------ ------------ ------------
Balance at
December 31, 1997 $ - - 210,402,030 - 105,294,786 21,806,761
============ ============ ============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Fidelity
Fidelity Diversified Rubbermaid
Fidelity Small Cap Inter- Unitized
Magellan Fidelity Selector national Stock Loan
Fund Contrafund Fund Fund Fund Fund Totals
------------ ------------ ------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at
December 31, 1996 $ - - - - - 1,823,586 344,966,136
Contributions:
Employer 654,662 653,268 246,520 350,574 180,566 - 10,841,458
Participants 964,069 1,022,285 365,534 492,510 216,421 - 8,499,817
Net appreciation
(depreciation) in
fair value 1,411,014 486,020 616,283 468,313 6,051,860 - 40,757,625
Dividends 1,427,844 2,340,217 603,028 354,438 (3,356) - 12,515,014
Interest 58,344 46,398 17,042 24,232 9,856 117,545 5,874,293
Loan repayments 244,642 196,570 71,621 101,534 43,600 (3,471,411) -
Benefit payments (1,122,056) (845,155) (391,895) (517,159) (595,828) (1,185,025) (59,069,587)
Loan disbursements (268,997) (284,669) (62,787) (114,720) (79,759) 5,325,198 -
Interfund 23,184,698 21,967,459 7,393,769 8,547,719 (1,210,170) (148,887) -
Transfers (256,993) (342,777) (125,592) (171,569) 1,153,249 (40,528) (1,659,100)
Other 96,743 97,445 31,418 47,141 3,445,728 6,872,632 63,362,183
------------ ------------ ------------ ------------ ------------ ------------ ------------
Balance at
December 31, 1997 $ 26,393,970 25,337,061 8,764,941 9,583,013 9,212,167 9,293,110 426,087,839
============ ============ ============ ============ ============ ============ ============
</TABLE>
(Continued)
<PAGE> 18
7
RUBBERMAID RETIREMENT PLAN FOR
COLLECTIVELY-BARGAINED ASSOCIATES
Notes to Financial Statements
(6) Plan Amendment
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Effective January 1, 1997, the Plan was amended to provide a Company
contribution equal to 6 percent of the eligible compensation paid to its
employees during the Plan Year (see footnote 1[b]). Additionally, the
Company will make quarterly cash payouts to each employee up to 12
percent of such employee's compensation for the quarter, which may be
deferred into the Plan (see footnote 1[b]).
