<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 1-4682
A. Full title of the plan and address of the plan, if different from that
of the issuer named below:
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
Thomas & Betts Corporation
8155 T&B Boulevard
Memphis, Tennessee 38125
-1-
<PAGE>
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page No.
--------
<S> <C>
Independent Auditors' Report.........................................................................3
Financial Statements:
Statements of Net Assets Available for Benefits -
Combined Funds - December 31,
1999 and 1998......................................................................4
Statements of Changes in
Net Assets Available for Benefits - Combined Funds - Years
Ended December 31, 1999, 1998,
and 1997...........................................................................5
Notes to Financial Statements...............................................................6
Schedules (1999 Information Only):
Schedule 1 - Schedule of Assets Held for Investment Purposes (Item 27a)...........15
Schedule 2 - Schedule of Reportable Transactions (Item 27d).......................16
Signatures..........................................................................................17
Exhibit.............................................................................................18
</TABLE>
-2-
<PAGE>
INDEPENDENT AUDITORS' REPORT
The Retirement Plans Committee
Thomas & Betts Corporation
We have audited the financial statements of Thomas & Betts Corporation
Employees' Investment Plan as listed in the accompanying table of contents.
These financial statements are the responsibility of the Plan Administrator.
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 Thomas &
Betts Corporation Employees' Investment Plan as of December 31, 1999, and
1998, and the changes in net assets available for benefits for each of the
years in the three-year period ended December 31, 1999, in conformity with
generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplementary information included
in Schedules 1 and 2 is presented for purposes of additional analysis and is
not a required part of the basic financial statements but is 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. Such supplementary information has been subjected to the auditing
procedures applied in the audit of the basic 1999 financial statements and,
in our opinion, is fairly stated in all material respects in relation to the
basic 1999 financial statements taken as a whole.
KPMG LLP
/s/ KPMG LLP
Memphis, Tennessee
June 9, 2000
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<PAGE>
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE
FOR BENEFITS -
COMBINED FUNDS
<TABLE>
<CAPTION>
December 31 1999 1998
---- ----
<S> <C> <C>
PLAN ASSETS
Investments at fair value:
Mutual Funds $166,185,117 $153,724,331
Thomas & Betts Corporation Stock Fund 14,012,148 15,684,738
Employee Loan Fund 6,269,319 5,922,447
------------ ------------
Total investments at fair value $186,466,584 $175,331,516
Investments at contract value:
Vanguard Investment Contract Trust $ 12,851,472 $ 6,188,771
------------ ------------
Total investments 199,318,056 181,520,287
Receivable from Thomas & Betts Corporation:
Employees' contributions 1,079,676 985,732
Employer's contributions 513,546 463,791
------------ ------------
Total receivables 1,593,222 1,449,523
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $200,911,278 $182,969,810
============ ============
</TABLE>
See accompanying notes to financial statements.
-4-
<PAGE>
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
STATEMENTS OF CHANGES IN NET ASSETS
AVAILABLE FOR BENEFITS -
COMBINED FUNDS
<TABLE>
<CAPTION>
Years ended December 31 1999 1998 1997
---- ---- ----
<S> <C> <C> <C>
Investment income:
Dividends on Thomas & Betts
Corporation Stock Fund $ 354,903 $ 343,231 $ 228,036
Interest and other dividends 9,502,728 9,814,567 6,498,381
---------------- --------------- ---------------
9,857,631 10,157,798 6,726,417
Net realized gain on sales
of investments 7,394,556 6,205,650 4,836,878
Unrealized appreciation of
investments 1,486,830 9,315,195 9,029,160
---------------- --------------- ---------------
Investment income 18,739,017 25,678,643 20,592,455
---------------- --------------- ---------------
Contributions:
Employees 16,668,814 14,608,514 11,154,368
Employer 6,800,258 5,976,126 4,464,054
Assets received from plan mergers - 24,802,261 1,075,732
---------------- --------------- ---------------
Total contributions 23,469,072 45,386,901 16,694,154
---------------- --------------- ---------------
Administrative expenses (31,051) (92,840) (79,966)
Withdrawals and distributions (24,235,570) (18,896,467) (17,639,819)
---------------- --------------- ---------------
Net increase 17,941,468 52,076,237 19,566,824
Net assets available for benefits:
Beginning of year 182,969,810 130,893,573 111,326,749
----------------- ----------------- -----------------
End of year $200,911,278 $182,969,810 $130,893,573
================= ================= =================
</TABLE>
See accompanying notes to financial statements.
-5-
<PAGE>
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1: PLAN DESCRIPTION
GENERAL
The Board of Directors of Thomas & Betts Corporation (the "Corporation")
adopted the Thomas & Betts Corporation Employees' Investment Plan (the
"Plan") on April 4, 1984. The participants in the Plan are eligible employees
of the Corporation and its participating subsidiaries. Eligibility,
enrollment, participant and employer contributions, vesting, participation,
forfeiture, loans, withdrawals, distribution, and other Plan provisions are
described in detail in the Plan document.
EMPLOYEE AND EMPLOYER CONTRIBUTIONS
Eligible employees may participate in the Plan by authorizing a withholding
of an amount equal to 1%, 2%, 3%, 4% or 5% of their compensation as a basic
contribution to the Plan. The Corporation contributes 75% of the first 3% and
50% of the remaining 2% of each participating employee's basic contribution.
Eligible employees who have authorized a basic contribution at the maximum
rate of 5% of compensation may authorize a "supplemental contribution" of 1%
to 10% of their compensation. The Corporation does not make any matching
contributions with respect to the amount of supplemental contributions.
INVESTMENT FUNDS
Assets of the Plan are invested in the following funds:
(1) The Thomas & Betts Corporation Stock Fund's assets are invested in
common stock of the Corporation and cash.
(2) The Vanguard Money Market Reserves - Federal Portfolio invests in
short-term securities that are guaranteed or backed by the U.S.
Government and its agencies.
(3) The Vanguard Short-Term Federal Bond Fund invests in bonds issued by
U.S. Government and agency obligations.
(4) The Vanguard Index 500 Portfolio invests in the common stock of major
corporations, with the view to achieve a return on investments equal to
the Standard & Poor's 500 index.
(5) The Vanguard U.S. Growth Portfolio invests in high-quality, established
growth stocks of companies based in the United States.
-6-
<PAGE>
(6) The Vanguard Wellington Fund is a balanced fund that invests in common
stocks (with emphasis on "blue chip" stocks), corporate bonds, U.S.
Government securities and preferred stock.
(7) The Vanguard Intermediate U.S. Treasury Bond Fund invests in corporate
debt securities and securities issued by the U.S. Government which
mature in five to twelve years.
(8) The Vanguard International Growth Portfolio invests in the stocks of
companies located outside the United States.
(9) The Vanguard Windsor Fund invests in common stocks with relatively low
price/earnings ratios and meaningful income yields. The fund may also
invest in preferred stocks, fixed-income securities, convertible
securities, and money-market instruments.
(10) The Vanguard Windsor II Fund invests in undervalued, income-producing
stocks, characterized by above-average income yields and below-average
price/earnings ratios relative to the stock market.
(11) The Vanguard Index Small Cap Portfolio invests in the common stocks of
smaller companies, with the view to achieve a return on investments
equal to the Russell 2000 index.
(12) The Vanguard Investment Contract Trust is a tax-exempt collective trust
fund that invests in investment contracts issued by insurance companies
and commercial banks, and similar types of fixed principal investments.
(13) The Vanguard Extended Market Index Fund seeks to provide long-term
growth of capital by attempting to match the performance of the
Wilshire 4500 Equity Index, an unmanaged index made up mostly of mid-
and small-capitalization companies.
(14) The Vanguard Total Bond Market Index Fund seeks to provide a high level
of interest income by attempting to match the performance of the
unmanaged Lehman Brothers Aggregate Bond Index, which is a widely
recognized measure of the entire taxable U.S. bond market.
Each participating employee may direct basic and supplemental contributions
in any one or more of the above funds except for the Vanguard Money Market
Reserves, Vanguard Intermediate U.S. Treasury Bond Fund and the Vanguard
Short-Term Federal Bond Fund, which were closed on October 1, 1998, and the
Vanguard Windsor Fund and Vanguard Small Cap Index Fund, which were
investment options of the Eagle Savings Plan. After the Corporation acquired
Amerace Corporation, a subsidiary of Eagle Corporation, the balances in these
funds pertaining to Amerace Corporation employees were transferred into the
Plan. As of the date of transfer into the Plan, no contributions could be
allocated to these funds. The funds will be closed after existing
contributions contained in these funds are distributed to participants or
transferred to the funds previously existing in the Plan. The Vanguard
Windsor II Fund and the Vanguard
-7-
<PAGE>
Investment Contract Trust were also investments of the Eagle Savings Plan.
Effective October 1, 1998, the Vanguard Windsor II Fund and Vanguard
Investment Contract Trust were reopened allowing current employees of the
Corporation to allocate a portion of their contribution to these funds. The
Vanguard Extended Market Index Fund and Vanguard Total Bond Market Index Fund
were added on October 1, 1998.
The Corporation's contribution is allocated among the funds in the same
proportion as the employee's basic contribution. Each employee may change the
amount and allocation of his or her contribution or reallocate existing
balances among funds by notifying The Vanguard Group by phone on any business
day. Changes are generally effective on the following business day.
PARTICIPANT LOANS
The Plan permits participants with vested account balances of at least $2,000
to borrow directly from their account. Participants may borrow up to 50% of
their vested account balance or a maximum of $50,000 for a period of up to 5
years. The minimum loan amount allowed is $1,000. The interest rate charged
is generally within one or two percentage points of the prime rate at the
time the loan is granted. This rate does not change for the life of the loan.
Loan repayments, both principal and interest, are deposited into the
participants' investment fund(s) based on the allocation designated at the
time of repayment.
NOTE 2: ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The accompanying financial statements have been prepared on the accrual basis.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires the plan administrator 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 income and expenses during the
reporting period. Actual results could differ from those estimates.
VALUATION
The Plan's investments are stated at fair value except for The Vanguard
Investment Contract Trust which is valued at contract value. Contract value
approximates fair value as of December 31, 1999. 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 Corporation's
stock within the Thomas & Betts Corporation Stock fund is valued at its
quoted market price. Employee loans are valued at cost, which approximates
fair value. Security transactions are recorded on the trade date, and
dividend income is recorded on the ex-dividend date. The cost of securities
sold is based on the average cost of those securities.
-8-
<PAGE>
The Vanguard Group has been designated by the Board of Directors of the
Corporation as the plan trustee.
NOTE 3: AMENDMENTS TO THE PLAN
During 1998, the Corporation amended the Plan to provide for (i) the
participation in the Plan by eligible employees of Augat Inc., which was
acquired by the Corporation, and (ii) the merger of the Augat Savings and
Retirement Plan with and into the Plan. During 1997, the Corporation amended
the Plan to provide for (i) the participation in the Plan by eligible
employees of Catamount Manufacturing, Inc., which was acquired by the
Corporation, and (ii) the merger of the Catamount Retirement Plan with and
into the Plan. The amendments resulted in $24,802,261, and $1,075,732 of
assets received from Plan mergers during 1998 and 1997, respectively.
Also in 1998, the Plan was amended to reflect changed investment options
effective October 1, 1998. The following funds were closed to new
contributions with existing investments remaining in the respective funds:
Vanguard Money Market Reserves, Vanguard Short-Term Federal Bond Fund, and
Vanguard Intermediate U.S. Treasury Bond Fund. The following new funds were
opened: Vanguard Extended Market Index Fund and Vanguard Total Bond Market
Index Fund. In addition, two previously closed funds, Vanguard Investment
Contract Trust and Vanguard Windsor II, were reopened.
In 1997, the Plan was amended to account for matching contributions which
were forfeited by terminating employees before those amounts became vested.
If a participant's vested accrued benefit is not distributed to the
participant in an immediate lump sum distribution, the nonvested portion of
the contribution account is forfeited as follows: (i) the nonvested portion
of a participant's accrued benefit, for any participant who separates from
service on or after July 1, 1996, is forfeited when the participant incurs a
five-year period of separation of service (if the participant is re-employed
before the five-year period of separation ends, the participant will continue
to vest starting when the participant left employment); (ii) any participant
separated from service on or after January 1, 1989 and before July 1, 1996
but re-employed on or after July 1, 1996 and before incurring a five-year
period of separation of service has the nonvested portion of the
participant's accrued benefit (adjusted for earnings or losses) restored. If
the participant was re-employed before July 1, 1996 and before incurring a
five-year period of separation of service and the nonvested portion of the
accrued benefit was restored, any earnings attributed to such nonvested
accrued benefit is also restored. The forfeiture amendment did not have a
material effect on the net assets of the Plan.
-9-
<PAGE>
NOTE 4: INVESTMENTS
The following table presents investments at December 31, 1999 and 1998.
<TABLE>
<CAPTION>
1999 1998
Number of Number of
shares/units shares/units
or principal Fair or principal Fair
amount Value amount Value
------------- ----- ------------- -----
INVESTMENTS AT FAIR
VALUE AS DETERMINED BY
QUOTED MARKET PRICE:
<S> <C> <C> <C> <C>
Thomas & Betts Corporation
Stock Fund 1,320,655 $ 14,012,148 1,090,733 $ 15,684,738
Vanguard Wellington Fund 1,270,870 35,533,538 1,247,208 36,605,560
Vanguard Index 500 Portfolio 401,396 54,320,937 384,272 43,787,824
Vanguard U.S. Growth Portfolio 940,394 40,935,332 887,801 33,283,646
International Growth Portfolio 256,086 5,759,369 228,160 4,282,565
Vanguard Windsor Fund 27,769 421,261 28,397 442,135
Vanguard Windsor II Fund 216,122 5,396,571 179,015 5,343,612
Vanguard Index Small
Cap Portfolio 19,110 450,985 20,097 426,053
Vanguard Extended Market
Index Fund 29,801 1,104,722 11,259 344,756
Vanguard Total Bond
Market Index 370,765 3,544,513 289,525 2,973,419
INVESTMENTS AT FAIR VALUE:
Vanguard Money Market Reserves
Federal Portfolio 17,116,742 17,116,742 23,692,719 23,692,719
Vanguard Intermediate U.S.
Treasury Bond Fund 90,284 914,580 127,566 1,421,082
Vanguard Short-Term
Federal Bond Fund 69,350 686,567 109,255 1,120,960
Employee Loan Fund 6,269,319 6,269,319 5,922,447 5,922,447
INVESTMENTS AT CONTRACT VALUE:
Vanguard Investment
Contract Trust 12,851,472 12,851,472 6,188,771 6,188,771
------------ ------------
Total Investments $199,318,056 $181,520,287
============ ============
</TABLE>
-10-
<PAGE>
A summary of net realized gains on sales of investments for the years ended
December 31, 1999, 1998 and 1997 follows:
<TABLE>
<CAPTION>
Proceeds Net Realized
From Sales Cost Gains
----------- ----------- ------------
<S> <C> <C> <C>
1999
Thomas & Betts common stock $ 7,307,574 $ 6,691,040 $ 616,534
All other investments 59,756,457 52,978,435 6,778,022
----------- ----------- ----------
$67,064,031 $59,669,475 $7,394,556
=========== =========== ==========
1998
Thomas & Betts common stock $ 5,581,108 $ 4,809,765 $ 771,343
All other investments 55,139,584 49,705,277 5,434,307
----------- ----------- ----------
$60,720,692 $54,515,042 $6,205,650
=========== =========== ==========
1997
Thomas & Betts common stock $ 3,962,912 $ 3,254,916 $ 707,996
All other investments 43,279,585 39,150,703 4,128,882
----------- ----------- ----------
$47,242,497 $42,405,619 $4,836,878
=========== =========== ==========
A summary of unrealized appreciation (depreciation) of investments for 1999,
1998 and 1997 follows:
Thomas & Betts All
Common Other
Stock Investments Total
-------------- ----------- -----------
Balance at December 31, 1996 $2,002,148 $11,253,854 $13,256,002
Unrealized appreciation
(depreciation) (124,828) 9,153,988 9,029,160
----------- ----------- -----------
Balance at December 31, 1997 $1,877,320 $20,407,842 $22,285,162
Unrealized appreciation
(depreciation) (174,882) 9,490,077 9,315,195
----------- ----------- -----------
Balance at December 31, 1998 $1,702,438 $29,897,919 $31,600,357
Unrealized appreciation
(depreciation) (4,000,803) 5,487,633 1,486,830
----------- ----------- -----------
BALANCE AT DECEMBER 31, 1999 $(2,298,365) $35,385,552 $33,087,187
=========== =========== ===========
</TABLE>
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<PAGE>
During the years ended December 31, 1999, 1998 and 1997, the Plan's
investments (including investments bought and sold, as well as held, during
the year) appreciated (depreciated) in value by $8,881,386, $15,520,845 and
$13,866,038, respectively, as follows:
<TABLE>
<CAPTION>
1999 1998 1997
---- ---- ----
<S> <C> <C> <C>
Thomas & Betts Corporation Stock Fund $ (3,384,269) $ 596,461 $ 583,168
Vanguard Short-Term Federal Bond Fund (32,385) 34,078 3,124
Vanguard Index 500 Portfolio 8,614,682 7,981,751 5,849,829
Vanguard U.S. Growth Fund 5,599,992 6,609,790 3,256,568
Vanguard Wellington Fund (1,596,217) (353,747) 3,265,031
Intermediate U.S. Treasury Bond Fund (109,225) 122,783 30,255
International Growth Portfolio 900,281 432,573 (8,692)
Vanguard Windsor Fund (3,462) (41,099) 23,988
Vanguard Windsor II Fund (1,073,421) 206,401 765,875
Vanguard Index Small Cap Portfolio 45,706 (61,318) 96,892
Vanguard Extended Market Index Fund 168,954 32,141 -
Vanguard Total Bond Market Index (249,250) (38,969) -
-------------- ----------- -----------
Net appreciation
in fair value $8,881,386 $15,520,845 $13,866,038
============== =========== ===========
</TABLE>
-12-
<PAGE>
NOTE 5: INVESTMENT FUND PARTICIPATION
As of December 31, 1999, the number of participants in each investment fund
was as follows:
<TABLE>
<CAPTION>
Number of
Participants
------------
<S> <C>
Thomas and Betts Corporation Stock Fund 3,288
VMMR Federal Portfolio 1,689
Vanguard Short-Term Federal Bond Fund 352
Vanguard Index 500 Portfolio 4,373
Vanguard - U.S. Growth Portfolio 3,462
Vanguard Wellington Fund 3,667
Employee Loan Fund 1,595
Vanguard Intermediate U.S. Treasury
Bond Fund 305
International Growth Portfolio 1,197
Vanguard Windsor Fund 63
Vanguard Windsor II Fund 1,100
Vanguard Index Small Cap Portfolio 85
Vanguard Investment Contract Trust 2,083
Vanguard Total Bond Market Index 1,144
Vanguard Extended Market Index Fund 375
</TABLE>
The number of participants in the Plan was less than the sum of participants
shown above because many were participating in more than one fund.
NOTE 6: CONTRIBUTIONS
The Corporation's contributions vest at the end of each year starting with
the second year of credited service, at the rate of 25% each year. A
participant in the Plan whose employment terminates for any reason before his
or her death, attainment of age 60, or total and permanent disability is
entitled to receive the vested portion, plus earnings thereon, of his or her
employer contribution account. The nonvested portion of the employer
contribution account is forfeited and retained in the Plan to reduce future
contributions to be made by the Corporation to the Plan. The nonvested
portion of the employer's contribution that is forfeited (if any) may be
restored if the participant is re-employed prior to a five-year period of
separation of service. A participant is entitled to receive 100% of the
participant's own contributions plus earnings thereon. In addition, employees
of certain organizations acquired by the Corporation have a 100%
nonforfeitable right to amounts in their accounts attributable to transferred
contributions from the acquired organization's plan and, in certain cases, to
the amount in their employer contribution accounts.
-13-
<PAGE>
NOTE 7: TERMINATION
The Board of Directors of the Corporation may terminate the Plan, in whole or
in part, or permanently discontinue contributions thereunder for any reason
at any time. In the case of such termination or permanent discontinuance of
contributions thereunder, affected participants become fully vested in their
accounts.
NOTE 8: INCOME TAXES
The Internal Revenue Service has issued a determination letter to the effect
that the Plan is a qualified plan under Section 401(a) of the Internal
Revenue Code of 1986 and is exempt from income tax under Section 501(c). The
Plan has been amended since receiving the determination letter. However, the
Plan's administrator and tax counsel believe that the Plan is currently
designed and being operated in compliance with the applicable requirements of
the Internal Revenue Code.
Under the present federal income tax laws and regulations, participants and
their beneficiaries are not taxed at the time contributions are made by the
Corporation under the Plan, although the Corporation will receive an
immediate income tax deduction in the amount of such contribution. All
earnings of the Trust Fund (which is maintained pursuant to the Plan and in
which Plan assets are held), realized and unrealized, are not taxable to any
participant or the participant's beneficiaries except upon a distribution by
the Trust Fund.
If a participant makes a withdrawal, generally the entire amount distributed
to the withdrawing participant will be taxable to the participant as ordinary
income. If an employee's participation in the Plan terminates, there are a
number of distribution alternatives available depending upon age and vested
account balance. To the extent that a distribution consists of the
Corporation's securities, the portion of the distribution representing
contributions to the Plan will be taxable at the time of the distribution as
ordinary income while the portion of the distribution representing any
unrealized appreciation in the value of the Corporation's securities will not
be taxable until disposition of such shares. The participant or the
participant's beneficiaries may be able to elect to have the ordinary income
portion of the distribution taxed at special rates which in most cases will
be lower than the applicable ordinary income tax rates. If the participating
employee has not participated in the Plan for five or more years before the
year in which the participation terminates, the special election will not be
available to the participant or the participant's beneficiaries, except in
the case of termination due to the participant's death.
-14-
<PAGE>
SCHEDULE 1
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
Item 27(a) Schedule of Assets Held for Investment Purposes
December 31, 1999
<TABLE>
<CAPTION>
Identity of Issue Description Cost Fair value
----------------- ----------- ---- ----------
<S> <C> <C> <C>
*Equity Securities- Thomas &
Betts Corporation Stock
Fund 1,320,655 UNITS $ 16,310,513 $ 14,012,148
Mutual Funds-
*Vanguard Wellington Fund 1,270,870 UNITS 34,299,637 35,533,538
*Vanguard Money Market
Reserves Federal Portfolio 17,116,742 UNITS 17,116,742 17,116,742
*Vanguard Intermediate U.S.
Treasury Bond Fund 90,284 UNITS 954,916 914,580
*Vanguard Index 500 Portfolio 401,396 UNITS 35,081,920 54,320,937
*Vanguard Short-Term Federal
Bond Fund 69,350 UNITS 703,531 686,567
*Vanguard U.S. Growth Fund 940,394 UNITS 26,909,812 40,935,332
*Vanguard International Growth
Portfolio 256,086 UNITS 4,624,547 5,759,369
*Vanguard Windsor Fund 27,769 UNITS 425,043 421,261
*Vanguard Windsor II Fund 216,122 UNITS 5,624,058 5,396,571
*Vanguard Index Small
Cap Portfolio 19,110 UNITS 370,815 450,985
*Vanguard Extended Market
Index Fund 29,801 UNITS 921,753 1,104,722
*Vanguard Total Bond Market
Index 370,765 UNITS 3,766,791 3,544,513
---------- ----------- ---------
Total Mutual Funds $130,799,565 $166,185,117
Loan Fund- Participant loans, interest rate range of
6% to 9.5%, with maturity date range of
January 5, 2000 to July 12, 2003 6,269,319 6,269,319
Guaranteed Investment Contracts-
*Vanguard Investment Contract
Trust at contract value 12,851,472 UNITS 12,851,472 12,851,472
---------- ------------
Total investments $166,230,869 $199,318,056
============ ============
</TABLE>
See accompanying independent auditors' report.
* Indicates a party-in-interest to the Plan
-15-
<PAGE>
SCHEDULE 2
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
Item 27(d) Schedule of Reportable Transactions
Year ended December 31, 1999
<TABLE>
<CAPTION>
Total
Description Number of Purchase Selling Gain/
of Security Transactions Price/Cost Price (Loss)
------------ ------------ ---------- ------- ------
<S> <C> <C> <C> <C>
Purchases:
Thomas & Betts Corporation
Stock Fund 174 $ 8,844,737
Vanguard Wellington Fund 194 9,468,401
Vanguard Investment Contract
Trust 242 17,846,085
Vanguard Index 500
Portfolio 232 17,420,629
Vanguard U.S. Growth Fund 220 11,636,123
-----------
$65,215,975
===========
Sales:
Thomas & Betts Corporation Stock Fund 231 $ 6,639,951 $ 7,256,485 $ 616,534
Vanguard Wellington Fund 243 8,457,888 9,205,415 747,527
Vanguard Investment Contract
Trust 223 11,276,167 11,276,167 -
Vanguard Index 500
Portfolio 249 12,639,107 15,970,995 3,331,888
Vanguard U.S. Growth Fund 238 7,524,832 9,874,411 2,349,579
----------- ----------- ----------
$46,537,945 $53,583,473 $7,045,528
=========== =========== ==========
</TABLE>
See accompanying independent auditors' report.
-16-
<PAGE>
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Exchange Act
of 1934, the trustees (or other persons who administer the employee benefit
plan) have duly caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
THOMAS & BETTS CORPORATION
EMPLOYEES' INVESTMENT PLAN
Date: June 20, 2000 By: /s/John P. Murphy
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John P. Murphy
Senior Vice President - Chief Financial Officer
By: /s/Connie C. Muscarella
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Connie C. Muscarella
Vice President - Human Resources
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