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Previous: ACM MUNICIPAL SECURITIES INCOME FUND INC, NSAR-A, 1999-06-29 |
Next: EMPIRE STATE MUNICIPAL EXEMPT TRUST GUARANTEED SERIES 95, 24F-2NT, 1999-06-29 |
<PAGE> 1
================================================================================
FORM 11-K
------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE PERIOD FROM JANUARY 1, 1998 TO DECEMBER 31, 1998
COMMISSION FILE NUMBER 1-11804
A. Full title of the plan and address of the plan, if different from that
of the issuer named below:
THE GEON RETIREMENT SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
THE GEON COMPANY
ONE GEON CENTER
AVON LAKE, OHIO 44012
REQUIRED INFORMATION
1. Audited financial statements of the plan.
The Report of Independent Auditors; Statement of Net Assets Available
for Benefits as of December 31, 1998; Statement of Changes in Net
Assets Available for Benefits for the period from January 1, 1998
through December 31, 1998; and Supplemental Schedules are attached
hereto.
2. Exhibits
Consent of Independent Auditors
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Geon
Savings Program Administration Committee has duly caused this annual report to
be signed on its behalf by the undersigned hereunto duly authorized.
THE GEON SAVINGS PROGRAM ADMINISTRATION COMMITTEE
June 29, 1999
/s/ James J. Casalone
Member of the Geon Savings Program
Administration Committee
================================================================================
<PAGE> 2
The Geon Retirement Savings Plan
Audited Financial Statements and Supplemental Schedules
December 31, 1998 and 1997
<TABLE>
<CAPTION>
CONTENTS
<S> <C>
Report of Independent Auditors.......................................1
AUDITED FINANCIAL STATEMENTS
Statements of Net Assets Available for Benefits......................2
Statement of Changes in Net Assets Available for Benefits............3
Notes to Financial Statements .......................................4
SUPPLEMENTAL SCHEDULES
Line 27(a)--Schedule of Assets Held for Investment Purposes.........10
Line 27(d)--Schedule of Reportable Transactions.....................29
</TABLE>
<PAGE> 3
Report of Independent Auditors
The Geon Company
Savings Program Administration Committee
We have audited the accompanying statements of net assets available for benefits
of The Geon Retirement Savings Plan as of December 31, 1998 and 1997, and the
related statement of changes in net assets available for benefits for the year
ended December 31, 1998. These financial statements are the responsibility of
the Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of The Geon
Retirement Savings Plan at December 31, 1998 and 1997, and the changes in its
net assets available for benefits for the year ended December 31, 1998, 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 accompanying supplemental schedules
of assets held for investment purposes as of December 31, 1998 and reportable
transactions for the year then ended, are presented for the purpose of
additional analysis and are not a required part of the 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. These supplemental schedules are the responsibility of the
Plan's management. The fund information in the statements of net assets
available for benefits and the statement of changes in net assets available for
benefits is presented for purposes of additional analysis rather than to present
the net assets available for benefits and changes in net assets available for
benefits of each fund. The supplemental schedules and fund information 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 in relation to the basic financial statements taken as a whole.
The schedule of assets held for investment purposes that accompanies the Plan's
financial statements does not disclose the historical cost of certain plan
assets held by the Plan trustee. Disclosure of this information is required by
the Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974.
/s/ Ernst & Young LLP
June 16, 1999
Cleveland, Ohio
1
<PAGE> 4
The Geon Retirement Savings Plan
Statements of Net Assets Available for Benefits, with Fund Information
December 31, 1998 and 1997
<TABLE>
<CAPTION>
TOTAL FIXED INCOME FUND EQUITY INDEX FUND
----------------------------- -------------------------- ----------------------------
1998 1997 1998 1997 1998 1997
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value--
Notes B and D:
Common stocks $ 78,055,976 $74,618,133
Common trust fund 78,537,337 68,066,469 $30,885,433 $29,993,569 $38,500,785 $30,196,411
Shares of registered
investment companies 5,425,216 4,491,308
Other 53,369 117,543
Participants' loans 5,887,022 5,717,572
---------------------------------------------------------------------------------------
Total investments 167,958,920 153,011,025 30,885,433 29,993,569 38,500,785 30,196,411
Receivables:
Dividends and interest 263,908 405,585 157,616 154,905 48,996
Other 4,818 1,588 3,729
Interfund 259,577 225,480 91,235 68,029 65,340 1,000
---------------------------------------------------------------------------------------
Total receivables 528,303 632,653 248,851 222,934 69,069 49,996
---------------------------------------------------------------------------------------
Total assets 168,487,223 153,643,678 31,134,284 30,216,503 38,569,854 30,246,407
LIABILITIES
Other payables 241,477 114,553 12,214 3,008
Interfund payables 259,577 225,480 55,491 5,836 6,927 62,835
---------------------------------------------------------------------------------------
Total liabilities 501,054 340,033 67,705 8,844 6,927 62,835
---------------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR
BENEFITS $167,986,169 $153,303,645 $31,066,579 $30,207,659 $38,562,927 $30,183,572
=======================================================================================
COMMON STOCK FUND
---------------------------------------------------------- BFGOODRICH COMPANY
PARTICIPANT DIRECTED NON-PARTICIPANT DIRECTED COMMON STOCK FUND
-------------------------- ------------------------------ --------------------------
1998 1997 1998 1997 1998 1997
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value-
Notes B and D:
Common stocks $32,901,759 $32,418,575 $28,282,197 $23,678,853 $12,260,066 $15,356,448
Common trust fund 841,488 954,608 723,258 691,267 238,503 334,741
Shares of registered
investment companies
Other
Participants' loans
--------------------------------------------------------------------------------------
Total investments 33,743,247 33,373,183 29,005,455 24,370,120 12,498,569 15,691,189
Receivables:
Dividends and interest 3,006 3,703 2,583 2,682 95,509 101,925
Other 586 503 1,588
Interfund 50,804 59,117 43,666 42,809
--------------------------------------------------------------------------------------
Total receivables 54,396 62,820 46,752 45,491 95,509 103,513
--------------------------------------------------------------------------------------
Total assets 33,797,643 33,436,003 29,052,207 24,415,611 12,594,078 15,794,702
LIABILITIES
Other payables 123,293 2,068 105,970 1,497 21,126
Interfund payables 55,224 24,650 47,465 17,850 94,470 114,309
--------------------------------------------------------------------------------------
Total liabilities 178,517 26,718 153,435 19,347 94,470 135,435
--------------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR
BENEFITS $33,619,126 $33,409,285 $28,898,772 $24,396,264 $12,499,608 $15,659,267
======================================================================================
BALANCED FUND BROKERAGE ACCOUNT PARTICIPANTS' LOAN FUND
--------------------------- ----------------------- ------------------------------
1998 1997 1998 1997 1998 1997
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value-
Notes B and D:
Common stocks $ 4,611,954 $3,164,257
Common trust fund $7,347,870 $5,895,873
Shares of registered
investment companies 5,425,216 4,491,308
Other 53,369 117,543
Participants' loans $5,887,022 $5,717,572
---------------------------------------------------------------------------------
Total investments 7,347,870 5,895,873 10,090,539 7,773,108 5,887,022 5,717,572
Receivables:
Dividends and interest 5,194 6,729 86,645
Other
Interfund 1,000 8,532 28,525 25,000
---------------------------------------------------------------------------------
Total receivables 5,194 7,729 8,532 115,170 25,000
---------------------------------------------------------------------------------
Total assets 7,353,064 5,903,602 10,099,071 7,888,278 5,887,022 5,742,572
LIABILITIES
Other payables 82 86,772
Interfund payables
---------------------------------------------------------------------------------
Total liabilities 82 86,772
---------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR
BENEFITS $7,353,064 $5,903,520 $10,099,071 $7,801,506 $5,887,022 $5,742,572
=================================================================================
</TABLE>
See notes to financial statements.
2
<PAGE> 5
The Geon Retirement Savings Plan
Statement of Changes in Net Assets Available for Benefits, with Fund Information
For the Year Ended December 31, 1998
<TABLE>
<CAPTION>
Geon Company
Common Stock Fund
------------------------------
Fixed Income Equity Index Participant Non-Participant
Total Fund Fund Directed Directed
----------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO
Investment income:
Net appreciation (depreciation) in fair
value of investments $ 8,599,229 $ 8,335,236 $ 177,067 $ 154,854
Interest and other income (expense) 2,615,391 $ 1,822,691 (2,344) 28,055 36,192
Dividends 1,830,769 699,707 575,214
----------------------------------------------------------------------------
13,045,389 1,822,691 8,332,892 904,829 766,260
Contributions:
Participants 5,920,156 437,472 651,571 4,684,137
Employer 5,948,318 5,948,318
----------------------------------------------------------------------------
11,868,474 437,472 651,571 4,684,137 5,948,318
Other additions 259,406 77,319 160,655 19,329
----------------------------------------------------------------------------
Total additions 25,173,269 2,337,482 9,145,118 5,608,295 6,714,578
DEDUCTIONS FROM ASSETS ATTRIBUTED TO
Withdrawals and terminations:
Cash 9,768,564 4,488,959 1,982,969 1,408,395 755,176
Common stock 722,181 319,846 217,038
----------------------------------------------------------------------------
Total deductions 10,490,745 4,488,959 1,982,969 1,728,241 972,214
----------------------------------------------------------------------------
Net increase (decrease) prior to interfund
transfers 14,682,524 (2,151,477) 7,162,149 3,880,054 5,742,364
Interfund transfers, net 0 3,010,397 1,217,206 (3,670,213) (1,239,856)
----------------------------------------------------------------------------
Net increase (decrease) 14,682,524 858,920 8,379,355 209,841 4,502,508
Net assets available for benefits at
beginning of year 153,303,645 30,207,659 30,183,572 33,409,285 24,396,264
----------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS AT END OF
YEAR $167,986,169 $31,066,579 $38,562,927 $33,619,126 $28,898,772
============================================================================
BFGoodrich
Company Participants'
Common Balanced Brokerage Loan
Stock Fund Fund Account Fund
-----------------------------------------------------------
<S> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS ATTRIBUTED TO
Investment income:
Net appreciation (depreciation) in fair
value of investments $(1,790,858) $1,062,106 $ 660,824
Interest and other income (expense) 15,538 34,372 195,908 $ 484,979
Dividends 386,408 169,440
--------------------------------------------------------
(1,388,912) 1,096,478 1,026,172 484,979
Contributions:
Participants 146,976
Employer
--------------------------------------------------------
146,976
Other additions 2,103
--------------------------------------------------------
Total additions (1,388,912) 1,245,557 1,026,172 484,979
DEDUCTIONS FROM ASSETS ATTRIBUTED TO
Withdrawals and terminations:
Cash 355,994 595,221 181,850
Common stock 185,297
--------------------------------------------------------
Total deductions 541,291 595,221 181,850
--------------------------------------------------------
Net increase (decrease) prior to interfund
transfers (1,930,203) 650,336 1,026,172 303,129
Interfund transfers, net (1,229,456) 799,208 1,271,393 (158,679)
--------------------------------------------------------
Net increase (decrease) (3,159,659) 1,449,544 2,297,565 144,450
Net assets available for benefits at
beginning of year 15,659,267 5,903,520 7,801,506 5,742,572
--------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS AT END OF
YEAR $12,499,608 $7,353,064 $10,099,071 $5,887,022
========================================================
</TABLE>
See notes to financial statements.
3
<PAGE> 6
The Geon Retirement Savings Plan
Notes to Financial Statements
December 31, 1998 and 1997
A. DESCRIPTION OF THE PLAN
The Geon Retirement Savings Plan (the "Plan") is a defined contribution plan
covering all domestic salaried and hourly employees excluding employees of
acquired businesses, joint ventures, or newly created businesses of The Geon
Company ("Geon" or the "Company"). The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 ("ERISA").
The following description of the Plan provides only general information.
Participants should refer to the Pathways Retirement Savings Plan Brochure for a
more complete description of the Plan's provisions. Copies of the brochure are
available from the Human Resources Department of the Company.
INVESTMENT OPTIONS
State Street Bank, the Trustee of the Plan, maintains several investment
options under the Plan, including the Fixed Income Fund, the Equity Index Fund,
the Geon Company Common Stock Fund, the BFGoodrich Company Common Stock Fund,
the Balanced Fund, and the Brokerage Account. Contributions to the Fixed Income
Fund are invested in the State Street Bank Selection Fund, which invests in
guaranteed investment contracts issued by insurance companies. Contributions to
the Equity Index Fund are invested in the State Street Bank Flagship S&P 500
Index Fund. Contributions to the balanced fund are invested in a mix of the
following State Street Bank Funds: Flagship S&P 500 Index Fund, S&P Midcap
Index Fund, Daily Bond Market Fund and SSB Daily EAFE. The BFGoodrich Company
Common Stock Fund and the Brokerage Account are not available for
contributions. The Brokerage Account, which enables participants to design
their own investment portfolio, can be funded by transfers from a participant's
other investment funds. The BFGoodrich Company Common Stock Fund represents the
remaining common stock of The BFGoodrich Company resulting from the transfer of
fund assets from The BFGoodrich Company Retirement Plus Savings Plan on April
29, 1993 in conjunction with the initial public offering of Geon, formerly a
wholly owned subsidiary of The BFGoodrich Company.
The Plan offers participants the choice of two savings options: a regular (after
tax) savings option and a tax-deferred savings option. Participants can elect to
participate in either or both of the savings options. Under both savings
options, the participant may direct that contributions be invested in any or all
of the four eligible funds. Participants can contribute to each of the eligible
four funds under both savings options.
4
<PAGE> 7
The Geon Retirement Savings Plan
Notes to Financial Statements--Continued
A. DESCRIPTION OF THE PLAN--CONTINUED
Except for the Loan Fund and the BFGoodrich Company Common Stock Fund,
dividends, interest, and proceeds from sale of investments in each Fund are
reinvested in the respective Fund. Dividend income from the BFGoodrich Company
Common Stock Fund is reinvested in the Geon Company Common Stock Fund. Repayment
of principal and interest on participant loans is reinvested to the various
funds, excluding The BFGoodrich Company Common Stock Fund, based upon the
participant's investment mix.
PARTICIPANT LOANS
The Participants' Loan Fund represents the cumulative outstanding loans to Plan
participants. Participants may borrow on employee contributions and related
earnings only. Participants cannot have more than three loans outstanding at one
time. The minimum amount that can be borrowed is $1,000 and the maximum amount
is the lesser of one half of the total vested account balance or $50,000 reduced
by the greater of (i) the highest outstanding loan balance in the last 12
months, or (ii) the outstanding balance of loans from the Plan on the date such
loan is made. The participant's balance in the brokerage fund is taken into
consideration in determining the maximum loan amount available, but may not be
borrowed. The interest rate on each loan is a fixed rate based on the trustee's
prime rate. Payments on loans are made through payroll deductions and must be
repaid within 5 years (personal loans) or 5-15 years (primary residence loans).
CONTRIBUTIONS
Each employee who elects to become a participant in the Plan authorizes a
monthly payroll deduction from one to fourteen percent of eligible earnings. The
Savings Program Administration Committee has the authority at its discretion to
reduce the employees' monthly contribution percentage in order to maintain the
qualified tax status of the Plan.
The Plan provides that for each plan year the employer will contribute a
percentage of the participants' contributions up to six percent of the
participants' monthly eligible earnings. The employer contribution rate is 100%
of participants' eligible contributions to the Geon Common Stock Fund and 50% of
participants' eligible contributions to the Fixed Income, Equity Index, or
Balanced funds. Employer contributions are invested only in the Geon Common
Stock Fund.
5
<PAGE> 8
The Geon Retirement Savings Plan
Notes to Financial Statements--Continued
A. DESCRIPTION OF THE PLAN--CONTINUED
The Plan provides for the acceptance of rollover contributions from other plans
qualified under the Internal Revenue Code (the "Code"). Rollover contributions
can be made only in cash to the Plan's tax-deferred savings option.
VESTING
Participant contributions are fully vested immediately and Company contributions
vest upon completion of three years of service by the participant (or upon
death, long-term disability, or Company initiated workforce reductions). Company
contributions may not be withdrawn until the participant reaches age 55 and is
vested. Forfeitures are applied to reduce employer contributions.
PAYMENT OF BENEFITS
A participant who elects to withdraw from the Plan will receive distributions
from the Fixed Income Fund, the Equity Index Fund, and the Balanced Fund in
cash. Distributions from The Geon Company Common Stock Fund or the BFGoodrich
Company Common Stock Fund may be made in cash or common stock of the respective
fund. Distributions or withdrawals cannot be made directly from the Brokerage
Account. Amounts in the Brokerage Account must first be transferred into another
fund, excluding the BFGoodrich Common Stock Fund, before a withdrawal
distribution can be made.
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 termination of the
Plan, the net assets of the Plan will be distributed to the participants based
on the respective value of their accounts.
ACCOUNTING AND ADMINISTRATIVE FEES
All significant accounting and administrative fees are paid by Geon, the Plan
sponsor.
6
<PAGE> 9
The Geon Retirement Savings Plan
Notes to Financial Statements--Continued
B. SIGNIFICANT ACCOUNTING POLICIES
The Plan's financial statements are reported on the accrual basis of accounting.
Investments are stated at fair value. Investments in common stock are valued at
the last reported sales price of the common stock on the last business day of
the plan year. The investment in the State Street Bank Selection Fund represents
the Plan's proportionate share of the net assets of the fund. The assets of the
State Street Bank Selection Fund, primarily deposits under insurance contracts,
are valued at contract value, plus income received thereon, less distributions
and administrative expense payments, which approximates fair value. The
investment in the State Street Bank common trust funds are valued at the
redemption price of units owned by the plan, which is based on the current
market value of the underlying assets of the fund. The shares of registered
investment companies are valued at quoted market prices which represent the net
asset value of shares held by the Plan at year-end. The Short-Term Investment
Fund consists of short-term fixed income obligations which have a market value
approximating cost. The participant notes receivable are valued at their
outstanding balances which approximate fair value.
USE OF ESTIMATES
The preparation of the financial statements in conformity with generally
accepted accounting principles requires management to make estimates that affect
the amounts reported in the financial statements and accompanying notes. Actual
results could differ from those estimates.
7
<PAGE> 10
The Geon Retirement Savings Plan
Notes to Financial Statements--Continued
C. INVESTMENTS
The Plan's investments are held by a bank-administered trust fund. Net realized
and unrealized appreciation (depreciation) in the aggregate fair value of plan
investments for the year ended December 31, 1998 is as follows:
<TABLE>
<CAPTION>
<S> <C>
Common Stock:
The Geon Company Common Stock $ 331,921
The BFGoodrich Company Common Stock (1,790,858)
Other 302,035
Common Trust Funds:
Balanced Fund 1,062,106
Equity Index Fund 8,335,236
Shares of registered investment companies 355,295
Other 3,494
----------------
$ 8,599,229
================
</TABLE>
The fair values of the individual investments that represent 5% or more of the
Plan's net assets available for benefits are as follows:
<TABLE>
<CAPTION>
DECEMBER 31
1998 1997
--------------------------------------
<S> <C> <C>
The Geon Company Common Stock,
2,660,172 and 2,399,890 shares, respectively $ 61,183,956 $ 56,097,428
The BFGoodrich Company Common Stock, 341,744 and 370,593
shares, respectively 12,260,066 15,356,448
State Street Bank Selection Fund,
30,885,433 and 29,993,569 units, respectively 30,885,433 29,993,569
State Street Bank Flagship S&P 500 Index Fund, 201,581 and
202,747 units, respectively 41,267,707 32,288,796
</TABLE>
8
<PAGE> 11
The Geon Retirement Savings Plan
Notes to Financial Statements--Continued
D. INCOME TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service
dated May 29, 1996, stating that the Plan is qualified under Section 401(a) of
the Code and, therefore, the related trust is exempt from taxation. Once
qualified, the Plan is required to operate in conformity with the Code to
maintain its qualification. The Plan Sponsor believes the Plan is being
operated in compliance with the applicable requirements of the Code and,
therefore, believes that the Plan is qualified and the related trust is tax
exempt.
F. YEAR 2000 ISSUE (UNAUDITED)
The Plan Sponsor has determined that it will be necessary to take certain steps
in order to ensure that the Plan's information systems are prepared to handle
year 2000 dates. The Plan Sponsor is taking a two phase approach. The first
phase addresses internal systems that must be modified or replaced to function
properly. Both internal and external resources are being utilized to replace or
modify existing software applications, and test the software and equipment for
the year 2000 modifications. The Plan Sponsor has substantially completed this
phase of the project. Costs associated with modifying software and equipment are
not estimated to be significant and will be paid by the Plan Sponsor.
For the second phase of the project, Plan management established communications
with its third party service providers to determine that they have developed
plans to address their own year 2000 problems as they relate to the Plan's
operations. All third party service providers have indicated they are year 2000
compliant. If modification of data processing systems of either the Plan, the
Plan Sponsor, or its service providers are not completed timely, the year 2000
problem could have an impact on the operations of the Plan. Plan management will
consider a contingency plan, at such time that it would appear some or all
systems will not be year 2000 ready.
9
<PAGE> 12
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes
December 31, 1998
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS
The Geon Company* 2,660,172 shares $ 63,111,068 $ 61,183,956
The BFGoodrich Company 341,744 shares 7,413,224 12,260,066
AT&T Corp. 710 shares A 53,783
Abbott Laboratories 1,000 shares A 49,000
Administaff Inc. 100 shares A 2,500
Airtran Holdings Inc. 1,200 shares A 3,150
Airtouch Communications 100 shares A 7,244
Alcatel Alsthom Sponsored 244 shares A 5,963
Allegiance Corp. 112 shares A 5,222
Alliance Semiconductor Corp. 100 shares A 406
Allied Signal Inc. 200 shares A 8,863
Aluminum Company of America 150 shares A 11,184
Alydaar Software Corp. 1,000 shares A 8,250
America Online Inc. 813 shares A 126,117
American Drug Co. 125 shares A 48
American Home Products Corp. 870 shares A 49,046
Amgen Inc. 50 shares A 5,228
Analog Devices Inc. 165 shares A 5,177
Anheuser Busch Cos. 100 shares A 6,563
Apple Computer Inc. 600 shares A 24,563
Applebees Intl. Inc. 200 shares A 4,125
Apria Healthcare Group Inc. 100 shares A 894
Applied Materials Inc. 400 shares A 17,075
Aronex Pharm. Inc. 350 shares A 700
Ashton Tech. Group Inc. 1,000 shares A 1,625
Asia Tigers Fd. Inc. 300 shares A 1,969
Aspen Technology Inc. 262 shares A 3,799
Associates First Capital Corp. 260 shares A 11,018
</TABLE>
10
<PAGE> 13
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Atlantic Richfield 100 shares A 6,538
Auspex Systems Inc. 2,000 shares A 8,656
Aviron 200 shares A 5,175
Ballard Power Systems Inc. 100 shares A 2,750
Bally Total Fitness Holdings 25 shares A 622
Bankamerica Corp. 50 shares A 3,006
Barnes and Noble Inc. 400 shares A 17,000
Bell Atlantic Corp. 30 shares A 1,620
Berkshire Hathaway Inc. 5 shares A 11,750
Bethlehem Steel Corp. 150 shares A 1,256
Boeing Co, 710 shares A 23,164
Books-A-Million Inc. 200 shares A 2,600
Borders Group Inc. 200 shares A 4,988
Boston Scientific 250 shares A 6,703
Boykin Lodging Co. 500 shares A 6,188
Brightpoint Inc. 1,000 shares A 13,750
Brooktrout Technology Inc. 1,000 shares A 17,125
Brush Creek Mining. & Dev. Co. 100 shares A 16
CML Group Inc. 100 shares A 17
CMP Group Inc. 200 shares A 3,775
Cabeltron Systems Inc. 1,000 shares A 8,375
Cadence Design Systems Inc. 240 shares A 7,140
Caledonia Mining Cp. 2,000 shares A 120
Calgon Carbon Corp. 200 shares A 1,500
Callaway Golf Co. 400 shares A 4,100
Cambridge Neuroscience 200 shares A 144
Canadian National Ry. Co. 100 shares A 5,188
Carlisle Companies 100 shares A 5,163
Cascade Nat. Gas Corp. 100 shares A 1,813
</TABLE>
11
<PAGE> 14
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Caterpillar Inc. 695 shares A 31,970
Cendant Corp. 1,515 shares A 29,259
Centocor Inc. 100 shares A 4,513
Central VT Pub. Svc. Corp. 100 shares A 1,038
Charter One Financial Inc. 210 shares A 5,828
Chesapeake Energy Corp. 500 shares A 469
Chevron Corp. 330 shares A 27,370
Ciena Corp. 500 shares A 7,313
Cirrus Logic Inc. 800 shares A 7,850
Cisco Systems Inc. 525 shares A 48,727
Circus Circus Enterprises Inc. 100 shares A 1,131
Citigroup Inc. 187 shares A 9,292
Cleveland Cliffs Inc. 100 shares A 4,031
Coca Cola Co. 1,617 shares A 108,339
Coca Cola Enterprises Inc. 489 shares A 17,482
Columbia Gas Systems Inc. 277 shares A 15,997
Compcast Corp. Class A Voting 100 shares A 5,744
Compaq Computer Co. 1,418 shares A 59,556
Cons. Natural Gas Co. 100 shares A 5,400
Converse Inc. 1,400 shares A 3,325
Countrywide Credit Ind. Inc. 100 shares A 5,019
Cymer Inc. 200 shares A 2,925
D&N Financial Corp. 200 shares A 4,725
De Beers Cons. Mines Ltd. 100 shares A 1,269
Deere & Company 260 shares A 8,548
Dell Computer Corp. 254 shares A 18,590
Dial Corp. 100 shares A 2,888
Diametrics Med. Inc. 1,000 shares A 4,938
Diamonds Trust Services 575 shares A 52,630
</TABLE>
12
<PAGE> 15
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Digital Microwave Corp. 500 shares A 3,422
Disney Walt Co. 2,031 shares A 60,930
Diversinet Corp. 50 shares A 100
Dollar Gen Corp. 125 shares A 2,953
Dominion Res. Inc. 100 shares A 4,675
Dover Downs Entertainment Inc. 150 shares A 1,809
Du Pont E I De Nemours & Co. 245 shares A 13,000
Dura Pharmaceuticals Inc. 100 shares A 1,519
EA Industries Inc. 1,000 shares A 59
Ensco International Inc. 1,600 shares A 17,101
Egghead Inc. 250 shares A 5,203
Electronic Data Systems Corp. 200 shares A 10,038
Emerald Financial Corp. 200 shares A 2,175
Ericsson L M Tel Co. 876 shares A 20,970
Espirito Santo Financial Hldgs. S.A. 500 shares A 9,782
Exxon Corp. 974 shares A 71,224
First Union Corp. 108 shares A 6,568
Fletcher Challenge Ltd. 1,000 shares A 3,125
Fonar Corp. 500 shares A 594
Ford Motor. Co. 750 shares A 44,016
Foster Wheeler Corp. 200 shares A 2,638
GP Strategies Corp. 500 shares A 7,500
Gap Inc. 900 shares A 50,513
Genelabs Techs Inc. 800 shares A 2,200
General Electric Co. 472 shares A 48,144
General Magic Inc. 400 shares A 2,012
General Motors Corp. 1,153 shares A 82,512
Genesee Corp. 100 shares A 2,325
Gensia Sicor Inc. 2,100 shares A 9,515
</TABLE>
13
<PAGE> 16
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Geon Co. 350 shares A 8,050
Georgia Gulf Corp. 500 shares A 8,032
Gillette Co. 2,328 shares A 111,309
Global Marine Inc. 1,800 shares A 16,200
Golden Triangle Industries 400 shares A 3,200
Goodrich B F Co. 7,498 shares A 268,991
GO2Net Inc. 200 shares A 7,075
Gucci Group 31 shares A 1,507
Gymboree Corp. 500 shares A 3,188
Hanna M. A. Co. 300 shares A 3,694
Harken Energy Corp. 750 shares A 1,500
Harrah's Entertainment Inc. 1,700 shares A 26,670
Heartland Express Inc. 100 shares A 1,750
Helmerich & Payne 600 shares A 11,625
Hershey Foods Corp. 500 shares A 31,094
Hewlett-Packard Co. 466 shares A 31,834
Hibernia Corp. 100 shares A 1,738
Hilton Hotels Corp. 1,600 shares A 30,600
Holly Holdings Inc. 17 shares A --
Home Depot Inc. 1,000 shares A 61,188
Houston Industries Inc. 100 shares A 3,206
HVIDE Marine Inc. 800 shares A 4,000
I-Link Inc. 15,373 shares A 31,715
Imation Corp. 32 shares A 560
Imatron Inc. 100 shares A 138
Indymac Mortgage Holdings 2,000 shares A 21,126
Informix Corp. 200 shares A 1,975
Infoseek Corp. 400 shares A 19,750
Integrated Silicon Solution Inc. 200 shares A 625
</TABLE>
14
<PAGE> 17
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Intel Corp. 1,560 shares A 184,958
Intl. Business Machine Corp. 120 shares A 22,125
Intl. Paper Co. 885 shares A 39,660
Interpool Inc. 200 shares A 3,350
Invacare Corp. 2,835 shares A 68,040
Iomega Corp. 3,912 shares A 28,608
Isolyser Inc. 546 shares A 580
Ivax Corp. 500 shares A 6,219
Jan Bell Marketing 2,000 shares A 12,876
Johnson & Johnson 179 shares A 15,014
Jones Apparel Group 200 shares A 4,413
Jones Pharma. Inc. 200 shares A 7,300
Kelley Oil & Gas Crp. 15,500 shares A 7,270
Keycorp 700 shares A 22,400
Keyspan Energy 44 shares A 1,364
Kroger Co. 302 shares A 18,271
Kulicke & Soffa Inds. Inc. 500 shares A 8,875
Lasmo Plc. 600 shares A 3,225
LSI Logic Corp. 1,900 shares A 30,638
LXR Biotechnology Inc. 5,000 shares A 6,250
Landry's Seafood Restaurant 965 shares A 7,238
Lilly Eli & Co. 150 shares A 13,331
Littlefuse Inc. 100 shares A 1,925
Loews Cineplex Entertainment 200 shares A 2,025
Lone Star Technologies Inc. 1,000 shares A 10,125
Lowes Companies 600 shares A 30,713
Lucent Tech. Inc. 1,219 shares A 134,014
MCI Worldcom Inc. 390 shares A 27,983
McDonalds Corp. 30 shares A 2,304
</TABLE>
15
<PAGE> 18
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
McKesson Corp. 200 shares A 15,813
Medtronic Inc. 10 shares A 743
Mercantile Bancorporation Inc. 100 shares A 4,613
Merck & Co. Inc. 570 shares A 84,075
Mercury Fin. Co. 5,145 shares A 185
Meridian Gold Inc. 300 shares A 1,706
Meritor Automotive Inc. 45 shares A 948
Microsoft Corp. 780 shares A 108,177
Microchip Tech. Inc. 417 shares A 15,429
Millenia Inc. 30 shares A 38
Minnesota Mng. & Mfg. 436 shares A 31,011
Monsanto Company 400 shares A 19,000
Morgan J.P. & Co. Inc. 88 shares A 9,246
Morrison Knudsen Crp. 264 shares A 2,574
Motivepower Inds. Inc. 122 shares A 3,927
Motorola Inc. 650 shares A 39,691
Mylan Labs. Inc. 200 shares A 6,300
Mylex Corp. 400 shares A 4,800
NCI Bldg. Systems Inc. 1,800 shares A 50,625
NCR Corp. 6 shares A 251
NTN Communications Inc. 220 shares A 124
Natl. Visions Association 840 shares A 4,515
Networks Associates Inc. 283 shares A 18,749
Newbridge Networks Corp. 100 shares A 3,038
News Corp. Ltd. 100 shares A 2,644
Noble Drilling Corp. 200 shares A 2,588
Northern Telecom Ltd. 180 shares A 9,000
Northwestern Steel & Wire Co. 200 shares A 125
Novacare Inc. 1,000 shares A 2,750
</TABLE>
16
<PAGE> 19
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Nucor Corp. 100 shares A 4,325
ODS Networks Inc. 1,400 shares A 4,200
Object Design Inc. 1,100 shares A 7,288
Occidental Petroleum Corp. 1,000 shares A 16,875
Ocean Energy Inc. 230 shares A 1,466
Officemax Inc. 1,189 shares A 14,565
Olsten Corp. 200 shares A 1,475
Omni Doors Inc. 300 shares A 38
Oracle Corporation 225 shares A 9,703
Orbital Engine Ltd. 5,000 shares A 14,375
Oxford Health Plans Inc. 300 shares A 4,463
Paccar Inc. 200 shares A 8,225
Pairgain Tech. Inc. 400 shares A 3,075
Parametric Tech. Corp. 100 shares A 1,625
Parker Drilling Co. 1,000 shares A 3,188
Peoplesoft Inc. 1,000 shares A 18,938
PepsiCo Inc. 950 shares A 38,831
Pfizer Inc. 650 shares A 81,250
Pharmaceutical Mrktg. Svcs. 1,001 shares A 14,389
Philip Morris Cos. 331 shares A 17,709
Phillips Petroleum Co. 100 shares A 4,263
Planet Hollywood Intl. Inc. 500 shares A 1,157
President Casinos Inc. 500 shares A 524
Proctor & Gamble Co. 125 shares A 11,414
Proxim Inc. 1,000 shares A 26,688
Pure World Inc. 1,000 shares A 8,063
Q Med Inc. 2,450 shares A 7,350
Qwest Comm. Intl. Inc. 200 shares A 10,000
R&B Falcon Corp. 1,000 shares A 7,563
</TABLE>
17
<PAGE> 20
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
RJR Nabisco Hldgs. Corp. 150 shares A 4,453
RPM Inc. 942 shares A 15,072
RTI Intl. Metals 200 shares A 2,800
Radius Inc. 50 shares A 61
Rainforest Cafe Inc. 600 shares A 3,638
Raytheon Co. 29 shares A 1,499
Realnetworks Inc. 50 shares A 1,794
Reltec Corp. 200 shares A 4,438
Rhone Poulenc S.A. 740 shares A 37,185
Rite Aid Corp. 185 shares A 9,204
Rockwell Intl. Corp. 135 shares A 6,556
Rogue Wave Software 150 shares A 1,313
Rollins Truck Leasing Corp. 1,050 shares A 15,488
Rottlund Inc. 600 shares A 2,400
Rowan Cos. Inc. 700 shares A 6,913
Royal Group Tech. Ltd. 1,520 shares A 33,916
Rubbermaid Inc. 110 shares A 3,458
SBC Communications 150 shares A 8,044
SEI Investment Co. 500 shares A 49,688
Safeskin Corp. 159 shares A 3,836
Safety Kleen Corp. 33 shares A 466
Schlumberger Limited 400 shares A 18,550
Scientific Atlanta 280 shares A 6,388
Seagate Technology 100 shares A 3,025
Sears Roebuck & Co. 300 shares A 12,750
Seattle Filmworks Inc. 698 shares A 3,228
Service Merchandise Inc. 2,000 shares A 562
Silicon Graphics Inc. 500 shares A 6,438
Solutia Inc. 15 shares A 336
</TABLE>
18
<PAGE> 21
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Sonat Inc. 200 shares A 5,413
Sony Corp. 150 shares A 10,800
Southwest Airlines Co. 343 shares A 7,782
Southwestern Energy 1,000 shares A 7,500
Sovereign Bancorp Inc. 350 shares A 4,988
Spyglass Inc. 1,600 shares A 35,200
Staples Inc. 30 shares A 1,311
Steel Technologies Inc. 1,400 shares A 9,450
Steris Corp. 1,394 shares A 39,643
Stolt Nielsen S.A. 150 shares A 1,538
Sugen Inc. 148 shares A 2,183
Summit Tech. Inc. 500 shares A 2,188
Sun Microsystems Inc. 400 shares A 34,250
Sun Television & Appliances Inc. 9,500 shares A 10
Sunbeam Corporation 500 shares A 3,438
Syntroleum Corp. 200 shares A 1,238
TCF Financial Corp. 310 shares A 7,498
TCI Satellite Entertainment Inc. 35 shares A 50
Tel Save Hldgs. Inc. 300 shares A 5,025
Tele-communciations Inc. 150 shares A 8,297
Telefonica De Peru S.A. 700 shares A 8,882
Tellabs Inc. 100 shares A 6,856
Texaco Inc. 170 shares A 9,010
Texas Instruments Inc. 225 shares A 19,266
Titan Corp. 1,000 shares A 5,500
Topps Inc. 100 shares A 500
Town & Country Corp. 12,000 shares A 48
Trans World Airlines Inc. 100 shares A 488
Transtexas Gas Corp. 1,400 shares A 3,675
</TABLE>
19
<PAGE> 22
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Tricon Global Restaurants Inc. 267 shares A 13,383
Turbodyne Technologies Co. 200 shares A 888
Tyco Intl. Ltd. 184 shares A 13,881
USX Marathon Group 1,000 shares A 30,125
U T I Energy Corp. 400 shares A 2,900
U S Wireless Corp. 5,000 shares A 5,000
Unicomp Inc. 2,001 shares A 7,254
Union Pacific Corp. 150 shares A 6,759
Union Planters Corp. 250 shares A 11,328
Unisys Corp. 774 shares A 26,655
United American Healthcare Co. 125 shares A 149
Utah Med. Products Inc. 3,600 shares A 23,627
Vencor Inc. 600 shares A 2,700
Ventas Inc. 100 shares A 1,219
Venture Stores Inc. 9,000 shares A 36
Wabash National Corp. 200 shares A 4,063
Wackenhut Correction Corp. 300 shares A 8,588
Wal Mart Stores Inc. 200 shares A 16,288
Walgreen Company 792 shares A 46,382
Warner Lambert Co. 170 shares A 12,782
Wavephore Inc. 200 shares A 1,606
Wendy's Intl. Inc. 400 shares A 8,725
Western Digital Corp. 300 shares A 4,519
Williams Ctls. Inc. 400 shares A 950
Witco Corp. 250 shares A 3,985
Yellow Corp. 500 shares A 9,563
Zenith Electronics 300 shares A 77
Zeneca Group Plc. 95 shares A 4,263
Zomax Optical Media Inc. 700 shares A 11,375
</TABLE>
20
<PAGE> 23
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
COMMON STOCKS--CONTINUED
Daimlerchrysler 139 shares A 13,353
Loral Space & Comm. Ltd. 300 shares A 5,344
Tommy Hilfiger Corp. 100 shares A 6,000
Taro Pharmaceuticals Inds. 1,190 shares A 6,025
New Holland 800 shares A 10,950
-------------------
78,055,976
COMMON TRUST FUNDS
State Street Bank* Selection Fund--30,885,433 units 30,885,433 30,885,433
State Street Bank* Flagship S&P 500 Index Fund
201,581 units 23,552,046 41,267,707
State Street Bank* Short-Term Investment Fund
2,518,817 units 2,518,817 2,518,817
State Street Bank* S&P Midcap Index Fund 7,316 units 235,568 310,054
State Street Bank* Daily Bond Market Fund 135,753
units 1,975,906 2,217,793
State Street Bank* SSB Daily EAFE
129,531 units 1,295,338 1,337,533
---------------------------------------
60,463,108 78,537,337
SHARES OF REGISTERED INVESTMENT COMPANIES
Fidelity US Bond Index 1,862 shares A 20,519
Fidelity Capital & Income 7 shares A 65
Fidelity Stock Selector 481 shares A 13,799
Fidelity Asset Manager 2,637 shares A 45,858
Fidelity Asset Manager Growth 1,132 shares A 21,144
Fidelity Contra Fund 234 shares A 13,310
</TABLE>
21
<PAGE> 24
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
Fidelity Equity Income II 5,256 shares A 157,740
Fidelity Retirement Growth 907 shares A 18,594
Spartan High Income 9,295 shares A 112,557
Fidelity Magellan 1,123 shares A 135,688
Fidelity Growth Company 1,669 shares A 85,149
Fidelity Puritan 9,155 shares A 183,747
Fidelity Low Priced Stock 1,185 shares A 27,074
Fidelity Growth & Income 1,118 shares A 51,263
Fidelity Blue Chip Growth 1,415 shares A 71,304
Fidelity Dividend Growth 1,892 shares A 54,350
Select Regional Banks 1,415 shares A 60,643
Select Medical Delivery 488 shares A 11,390
Select Energy Service 563 shares A 8,141
Select Food & Agriculture 575 shares A 28,392
Select Brokerage & Investment 526 shares A 20,233
Select Electronics 835 shares A 38,856
Fidelity Export & Multinational 3,246 shares A 64,525
Fidelity Value 1,989 shares A 92,169
Fidelity Intl. Value 708 shares A 9,543
Fidelity Small Cap. Stock 954 shares A 8,498
Fidelity Target Timeline 2001 6,249 shares A 60,800
Fidelity Capital Appreciation 482 shares A 10,646
Select Technology 34 shares A 2,679
Select Health Care 438 shares A 59,865
Select Construction & Housing 36 shares A 1,005
Select Home Finance 9 shares A 406
Select Money Market 43,808 shares A 43,808
</TABLE>
22
<PAGE> 25
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
Aim Aggressive Growth 25 shares A 1,193
Aim Strategic Income Class B 269 shares A 2,978
Aim Global Govt. Income 4,381 shares A 39,865
Aim Emerging Markets 142 shares A 1,051
Aim Value Class B 480 shares A 18,822
Aim Intermediate Govt. 4,330 shares A 41,526
Alliance Limited Maturity 4,330 shares A 41,307
American Century 20th Cent. 1,213 shares A 32,935
American Century 20th Cent. 1,294 shares A 13,783
American Century 20th Cent. 341 shares A 11,380
American Century 20th Cent. 1,203 shares A 11,528
Babson Value Income 184 shares A 8,453
Baron Asset 1,009 shares A 50,996
Berger Growth & Inc. Retail 240 shares A 3,211
Berger Small Co. Growth Retail 1,206 shares A 4,559
Berger One Hundred Retail 534 shares A 7,802
Brandywine 893 shares A 27,043
Bull & Bear Gold 1,765 shares A 4,976
Cohen & Steers Realty Share 218 shares A 8,270
Dreyfus Disciplined Stock 307 shares A 11,509
Dreyfus Short Term High Yield 325 shares A 3,751
Evergreen Foundation Class 298 shares A 6,250
Fidelity Advisor Growth Opp. 786 shares A 39,475
Founders Frontier 656 shares A 16,726
Founders Special 3,081 shares A 22,923
Founders Worldwide Growth 328 shares A 7,246
Gam International 284 shares A 8,515
John Hancock Special Equity 303 shares A 7,295
</TABLE>
23
<PAGE> 26
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
Harbor Capital Appreciation 252 shares A 9,565
Oakmark Fund 433 shares A 15,504
Oakmark Small Cap 807 shares A 11,916
Oakmark Select 1,549 shares A 30,270
Heartland Group US Govern. 2,619 shares A 26,343
Hotchkis & Wiley Total Return 1,226 shares A 16,493
Invesco Income High Yield 201 shares A 1,295
Invesco Strategic Health Sci. 167 shares A 10,212
Invesco Strategic Financial 348 shares A 10,167
Invesco Internat'l European 1,232 shares A 22,009
Janus Fund 3,680 shares A 123,826
Janus Inv't. Growth & Income 1,223 shares A 35,604
Janus Inv't. Worldwide 5,026 shares A 238,036
Janus Inv't. Twenty 2,632 shares A 140,265
Janus Flexible Income 529 shares A 5,259
Janus Special Situations 906 shares A 15,770
Janus Inv't. Equity Income 1,612 shares A 30,178
Janus Olympus 136 shares A 3,762
Janus High Yield Bond 603 shares A 6,395
Janus Enterprise 173 shares A 6,276
Janus Inv't. Overseas 2,557 shares A 51,347
Janus Inv't. Mercury 443 shares A 10,692
Janus Inv't. Balanced 2,499 shares A 49,012
Kaufmann Fund 13,682 shares A 77,715
Longleaf Partners 2,303 shares A 56,165
Longleaf Realty 1,845 shares A 26,848
Loomis Sayles Bond 1,217 shares A 14,547
Marsico Focus 2,910 shares A 44,021
</TABLE>
24
<PAGE> 27
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
Midas Fund 1,739 shares A 2,626
Montgomery Emerging Markets 789 shares A 6,297
Montgomery Growth 434 shares A 8,942
Munder Net Net Class A 200 shares A 5,580
Mutual Series Beacon Class 4,289 shares A 56,275
Neuberger & Berman Genesis 79 shares A 1,597
Neuberger & Berman Guardian 746 shares A 12,057
Neuberger & Berman Focus 396 shares A 9,147
Northeast Investors Trust 911 shares A 9,534
White Oak Growth Stock 451 shares A 18,348
Oppenheimer Main St. Inc. & Growth 284 shares A 11,242
PBHG Growth 562 shares A 14,362
PBHG Large Cap Growth 477 shares A 11,243
PBHG Large Cap 20 358 shares A 7,768
Pimco Total Return Class C 1,871 shares A 19,719
Pimco High Yield 128 shares A 1,452
Pimco Foreign Bond Class C 942 shares A 9,953
Putnam Global Growth 1,409 shares A 17,545
Putnam Growth & Income II 988 shares A 13,688
Putnam OTC & Emerging Growth 184 shares A 3,178
Putnam New Opportunities 210 shares A 11,717
Putnam International Growth 775 shares A 14,648
Roberston Stephens Value 663 shares A 17,179
Roberston Stephens Global 557 shares A 5,010
T Rowe Price Dividend Growth 350 shares A 7,710
T Rowe Price Equity Income 2,115 shares A 55,661
</TABLE>
25
<PAGE> 28
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
T Rowe Price Growth & Income 808 shares A 21,218
T Rowe Price Mid Cap Growth 118 shares A 4,010
T Rowe Price New Horizons 383 shares A 8,937
T Rowe Price European Stock 1,017 shares A 22,130
T Rowe Price Science & Tech. 296 shares A 11,133
T Rowe Price Spectrum Income 892 shares A 10,261
Rydex Nova Fund 663 shares A 22,025
Rydex Precious Metals 239 shares A 1,094
Rydex URSA Fund 14,318 shares A 128,143
Rydex US Gov't Bond 896 shares A 9,998
Rydex Arktos Investor 4,296 shares A 40,938
Rydex OTC Fund 1,902 shares A 78,670
SSGA Small Cap Equity 22 shares A 418
SSGA S&P 500 Index 299 shares A 6,603
Seligman Communications & Info. 1,226 shares A 37,674
SSGA Money Market 1,074,597 shares A 1,074,597
Sogen International 351 shares A 8,080
Sound Shore Fund Inc. 1,160 shares A 34,372
Spectra Fund Inc. 1,654 shares A 41,704
Stein Roe Investment Trust 78 shares A 1,645
Strong Income High Yield Bonds 2,784 shares A 30,791
Strong Growth 1,353 shares A 31,460
Strong American Utilities 89 shares A 1,495
Strong Schafer Value 63 shares A 3,756
Strong Gov't. Securities 2,387 shares A 25,682
Strong Opportunity Income 226 shares A 8,722
Templeton Developing Market 781 shares A 8,049
</TABLE>
26
<PAGE> 29
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SHARES OF REGISTERED INVESTMENT
COMPANIES--CONTINUED
Templeton World Fund CL I 163 shares A 2,596
Templeton Foreign 226 shares A 1,897
Templeton Growth Class I 2,272 shares A 37,185
Van Wagoner Income Emerging 200 shares A 2,192
Vanguard Growth & Income 1,177 shares A 36,198
Vanguard/ Wellington Income 409 shares A 11,997
Vanguard/ Primecap 369 shares A 17,573
Vanguard/ Windsor II Portfolio 620 shares A 18,498
Vanguard Asset Allocation 369 shares A 9,000
Vanguard Fixed Inc. Sec L/T PO 2,836 shares A 26,345
Vanguard GNMA Fixed Income 38 shares A 400
Vanguard Index Trust S&P 500 1,203 shares A 137,116
Vanguard Value Index 46 shares A 1,042
Warburg Pincus Emerging Growth 17 shares A 673
Warburg Pincus Balanced 766 shares A 10,036
Wright Equifund Netherland 253 shares A 2,965
Wright Equifund Mexico 427 shares A 2,056
Wright International Blue 29 shares A 463
Yacktman Fund 196 shares A 2,281
---------------------
5,425,216
</TABLE>
27
<PAGE> 30
The Geon Retirement Savings Plan
EIN: 34-1730488 Plan No.: 001
Line 27(a)--Schedule of Assets Held for Investment Purposes--Continued
<TABLE>
<CAPTION>
Description of Investment
Including Maturity Date,
Identity of Issue, Borrower, Rate of Interest, Par or Current
Lessor or Similar Party Maturity Value Cost Value
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
OTHER
Warrants and Long Term Options: A
American Drug Co. 125 units A 14
Morrison Knudsen Corp. 217 units A 678
Borden Chemical & Plastics 400 units A 1,875
Real Estate:
Capstead Mtg. Corp. 2,000 units A 8,250
Crescent Real Estate Equities 300 units A 6,900
National Golf PPTYS Inc. 200 units A 5,788
Plum Creek Timer Co. 900 units A 23,457
Transcontinental Realty Inv. 500 units A 6,407
---------------------
53,369
Participant Loans At interest rates ranging
from 6% to 10% 5,887,022
-----------------
TOTAL ASSETS HELD FOR INVESTMENT PURPOSES
$ 167,958,920
=================
</TABLE>
*Indicates party-in-interest to the Plan.
(A) This information is not available.
28
<PAGE> 31
The Geon Retirement Savings Plan
EIN 34-1730488 Plan 001
Line 27(d)--Schedule of Reportable Transactions
For the Year Ended December 31, 1998
<TABLE>
<CAPTION>
Current Value
of Assets on
Purchase Selling Cost of Transaction Net Gain
Description of Assets Price Price Assets Date (Loss)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CATEGORY(iii)--SERIES OF TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS
State Street Bank $ 11,913,302 $ 11,913,302 $ 11,913,302
Selection Fund* $ 11,021,438 11,021,438 11,021,438 $ 0
The Geon Company 9,685,272 9,685,272 9,685,272
Common Stock* 4,930,665 5,054,511 4,930,665 (123,846)
State Street Bank
Short Term Investment 34,919,920 34,919,920 34,919,920
Fund* 34,844,058 34,844,058 34,844,058 0
State Street Bank
Flagship S&P 500 Index 8,268,756 8,268,756 8,268,756
Fund* 8,250,187 5,210,395 8,250,187 3,039,792
</TABLE>
*Indicates party-in-interest to the Plan.
There were no category (i), (ii) or (iv) reportable transactions during 1998.
29
<PAGE> 1
EXHIBIT 23
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-65520) pertaining to The Geon Retirement Savings Plan, in the
Registration Statement (Form S-8 No. 33-65518) pertaining to The Geon
Retirement Plus Savings Plan For Wage Employees, and in the Registration
Statement (Form S-8 No. 33-92398) pertaining to The Geon Retirement Savings
Plan, of our report dated June 16, 1999, with respect to the financial
statements and schedules of The Geon Retirement Savings Plan included in this
Annual Report (Form 11-K) for the year ended December 31, 1998.
/s/ Ernst & Young LLP
Cleveland, Ohio
June 25, 1999
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