The Bausch & Lomb
401(K) Account Plan (formerly The Bausch & Lomb Savings Plus Plan)
The Bausch & Lomb 401(K) Account Plan
(formerly The Bausch & Lomb Savings Plus Plan)
Index to Financial Statements and Schedule
Page 1
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Page |
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Financial Statements: |
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Report of Independent Accountants |
2 |
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Statements of Net Assets Available for Benefits as of December 31, 2000 |
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Statement of Changes in Net Assets Available for Benefits for the Year |
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Notes to Financial Statements |
5 - 9 |
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Supplemental Schedule:* |
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Schedule I - Schedule of Assets Held for Investment Purposes at End of Year |
10-20 |
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* * * * *
*Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.
Page 2
Report of Independent Accountants
To the Participants and Administrator of
The Bausch & Lomb 401(K) Account Plan
In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of The Bausch & Lomb 401(K) Account Plan (the "Plan"), formerly the Bausch & Lomb Savings Plus Plan, at December 31, 2000 and 1999, and the changes in net assets available for benefits for the year ended December 31, 2000 in conformity with accounting principles generally accepted in the United States of America. 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 of these statements in accordance with auditing standards generally accepted in the United States of America, which 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, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets held for investment purposes at end of year is presented for the purpose 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. This supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in the audit 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.
May 24, 2001
The Bausch & Lomb 401(K) Account Plan
(formerly The Bausch & Lomb Savings Plus Plan)
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December 31, |
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2000 |
1999 |
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Assets |
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Investments at fair value |
$ 243,793,043 |
$ 252,992,931 |
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Investments at contract value |
51,219,649 |
60,327,707 |
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Total investments |
295,012,692 |
313,320,638 |
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Cash |
717,085 |
3,456,011 |
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Accrued interest and dividends receivable |
4,099,750 |
343,667 |
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Total assets |
299,829,527 |
317,120,316 |
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Liabilities |
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Amounts due brokers for securities purchased |
(271,271) |
- |
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Total liabilities |
(271,271) |
- |
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|
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Net assets available for benefits |
$ 299,558,256 |
$ 317,120,316 |
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The accompanying notes are an integral part of these financial statements.
The Bausch & Lomb 401(K) Account Plan
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For the |
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Year Ended |
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December 31, |
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2000 |
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Additions |
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Additions to net assets attributed to: |
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Contributions - |
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Participant |
$ 25,720,967 |
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Employer |
9,418,128 |
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Total contributions |
35,139,095 |
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Investment income (loss) - |
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Interest/dividend |
14,028,370 |
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Net depreciation in fair value of investments |
(52,798,590) |
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Total investment loss |
(38,770,220) |
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Total |
(3,631,125) |
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Deductions |
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Benefits paid to participants |
(40,660,113) |
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Net decrease prior to transfer |
(44,291,238) |
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Transfer from predecessor plan (Note 1) |
26,729,178 |
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Net decrease |
(17,562,060) |
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Net assets available for benefits: |
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Beginning of year |
317,120,316 |
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End of year |
$ 299,558,256 |
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The accompanying notes are an integral part of these financial statements.
The Bausch & Lomb 401(K) Account Plan
(formerly The Bausch & Lomb Savings Plus Plan)
1. Description of Plan
The Plan is a defined contribution plan covering substantially all U.S. employees of Bausch & Lomb Incorporated (the "Company"). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").
General
The following description of The Bausch & Lomb 401(K) Account Plan provides only general information. Participants should refer to the Plan's Summary Plan Description and Plan Document for a more complete description of the Plan's provisions.
Plan Amendment and Merger
Effective January 1, 2000, the Plan was amended as follows:
Increased the maximum participant pre-tax contribution rate from 11% to 15% of compensation;
Provided for a Company fixed contribution of 0.5% of compensation, in the form of Bausch & Lomb Incorporated common stock, for all employees eligible to participate;
Increased the Company matching contribution from a maximum of 3% to 4%;
Provided seven more investment options; and
Allowed for the merger of the Storz Savings and Profit Sharing Plan, a Bausch & Lomb Surgical Division defined contribution plan, into this Plan. The amended plan was renamed The Bausch & Lomb 401(K) Account Plan (the "Plan"). As a result of this plan merger, assets totaling $26,729,178 were transferred into the Plan on January 3, 2000.
Participant Contributions
Employees may elect to participate in the Plan on their date of hire if they are scheduled to work at least 1,000 hours per Plan year. The allowable employee contribution ranges from 1% to 15% of pre-tax compensation. In addition, a participant may elect to contribute an additional 1% to 6% of compensation on an after-tax basis. In no event may the participant's rate of pre-tax savings contributions when added to the rate of after-tax savings contributions exceed 21% of eligible compensation. In addition, each participant may contribute rollover contributions received in a lump sum from another qualified defined contribution or defined benefit retirement plan.
Company Contributions
For employees who have completed one year of eligible service, the Company is required to contribute, from its profits, an amount equal to 100% of the first 3% of each participant's pre-tax savings contributions plus 50% of the next 2% of each participant's pre-tax savings contributions. For employees who have completed one year of eligible service, the Company provides a fixed contribution of .5% of a participant's eligible compensation. All Company contributions are invested in Bausch & Lomb Incorporated common stock and must remain in this fund option until the participant reaches age 55.
Page 6
Plan Administrator
The Plan is administered by the Employee Benefits Administration Committee (the "Committee") which is appointed by the Board of Directors of the Company.
Participant Accounts
Individual accounts are maintained for each Plan participant to reflect the participant's contributions and Company contributions. Income and loss is allocated to the participants' accounts based on the ratio of the account balance of the individual
participant to the aggregate of all account balances of all participants in the fund within the Plan. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.
Vesting
All active Plan participants are 100% vested in their contributions, as well as in all Company contributions.
Participant Loans
Plan participants may borrow up to one-half of their pre-tax savings contributions and Company contributions, not to exceed $50,000. Participants' loans are secured by their account balances. Loan terms range from one to five years. The interest
rate on such loans is determined by the Committee based on prevailing market interest rates at the time the loan is approved. For loans taken during 2000 and 1999, the interest rate charged was one percent over the published prime interest rate on the
25th of each month prior to the application (9.50% and 8.50% at December 31, 2000 and 1999, respectively).
Payment of Benefits
On termination of service due to death, disability, or retirement, a participant may elect to receive a lump-sum payment or life annuity. For payment of benefits due to other reasons, a participant may receive the value of the interest in his or her
account as a lump-sum distribution. A participant may withdraw from his or her after-tax savings account prior to termination of employment subject to Plan provisions.
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, participant
accounts will remain 100% vested.
2. Summary of Accounting Policies
Basis of Accounting
The financial statements of the Plan are recorded on the accrual basis of accounting. Benefits are recorded when paid.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and
changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Page 7
Risks and Uncertainties
Investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk, it is at least reasonably possible that changes in the values of the investments will occur in the near term and that such
changes could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits.
Investment Valuation
The Plan invests in mutual funds and common stocks which are presented at fair value based on quoted market prices, which represent the net asset value of shares held by the Plan at year end. Loans to participants are valued at cost which
approximates fair value.
The Plan's investments also consist of a guaranteed investment contract at Metropolitan Life Insurance Company ("Met Life") which is stated at contract value. Contract value is equal to cost plus accrued interest which approximates fair value because the contract is fully benefit responsive. The average crediting rate for 2000 and 1999 was 6.11% and 6.36%, respectively. The crediting rate at December 31, 2000 and 1999 was 6.25% and 6.10%, respectively. The crediting rate is reset by Met Life annually on December 1 based on the contract terms.
The Plan holds a synthetic investment contract with a total contract value of $39,498,658 and $49,277,941 at December 31, 2000 and 1999, respectively. Synthetic investment contracts represent individual assets or a portfolio of assets placed in a trust with ownership by the Plan and a third party issues a wrapper contract that provides that holders can execute transactions at contract value. Individual assets of the synthetic contract are valued at representative quoted market prices. The wrapper is valued as the difference between the fair value of the assets and the contract value of the investment contract.
Net Appreciation (Depreciation) in Fair Value of Investments
The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments which consists of the realized gains and losses and the unrealized appreciation (depreciation)
on those investments.
Reclassifications
Certain 1999 balances have been reclassified to conform to the 2000 presentation.
3. Investments
The following presents investments that represent 5% or more of the Plan's net assets.
|
December 31, |
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|
2000 |
1999 |
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Bausch & Lomb Incorporated common stock* |
$ 55,426,266 |
$ 85,800,254 |
|
|
Fidelity Equity Income Fund |
40,182,633 |
50,259,970 |
|
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Fidelity Spartan US Equity Index Fund |
30,759,570 |
41,319,136 |
|
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Fidelity Puritan Fund |
26,277,411 |
27,170,862 |
|
|
Fidelity Contrafund Incorporated Fund |
29,327,198 |
38,465,667 |
|
|
Bernstein Investment Contact |
17,882,690 |
24,503,136 |
|
|
Clover Capital Investment Contract |
20,550,446 |
23,714,648 |
|
|
Fidelity OTC Portfolio Fund |
18,705,896 |
- |
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Page 8
During 2000, the Plan's investments (including gains and losses on investments bought and sold, as well as held during this year) depreciated in value by $52,798,590 as follows:
|
Bausch & Lomb Incorporated common stock |
$ 34,605,636 |
|
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Mutual Funds |
18,192,954 |
|
|
$ 52,798,590 |
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*Denotes party-in-interest and investment which is partially non-participant directed.
4. Non-participant Directed Investments
The Bausch & Lomb Incorporated Stock Fund is both a participant directed and non-participant directed investment option. Company contributions are invested in the Bausch & Lomb Incorporated Stock Fund and must remain in this fund option until the participant reaches age 55. In addition, participants may direct contributions to the Bausch & Lomb Incorporated Stock Fund and may redirect their contributions to another fund at any time. Information about the net assets available for benefits and the significant components of the changes in net assets available for benefits related to the Bausch & Lomb Incorporated Stock Fund is as follows:
|
December 31, |
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|
2000 |
1999 |
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|
Net assets available for benefits: |
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|
Common stock |
$ 55,426,266 |
$ 85,800,254 |
|
|
Cash |
652,000 |
821,382 |
|
|
Accrued interest and dividends receivable |
358,458 |
330,388 |
|
|
$ 56,436,724 |
$ 86,952,024 |
||
|
December 31, |
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|
2000 |
|||
|
Net assets available for benefits at beginning of year |
$ 86,952,024 |
||
|
Contributions: |
|||
|
Participant |
867,177 |
||
|
Employer |
9,418,128 |
||
|
Interest/dividends |
1,412,646 |
||
|
Net depreciation in fair value of investments |
(34,605,636) |
||
|
Benefits paid to participants |
(6,492,130) |
||
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Interfund transfers, net |
(1,115,485) |
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Net assets available for benefits at end of year |
$ 56,436,724 |
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Page 9
5. Federal Income Tax
The Internal Revenue Service has determined and informed the Company by a letter dated February 21, 1995, that the Plan and related trust as amended and restated in 1994 are designed in accordance with applicable sections of Internal Revenue Code ("IRC"). Although the Plan has been amended since receiving the determination letter, the Plan Administrator and the Plan's tax counsel believe the Plan is designed and currently being operated in compliance with the applicable requirements of the IRC.
6. Transactions with Related Parties
Certain participant contributions and all Company contributions are invested in the Company's common stock and, therefore, these transactions qualify as party-in-interest. All legal, accounting and trustee services are provided at the expense of the Company.
|
The Bausch & Lomb 401(K) Account Plan (formerly The Bausch & Lomb Savings Plus Plan) |
Page 10 |
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Schedule of Assets Held for Investment Purposes at End of Year |
Schedule I |
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For the Plan Year Ended December 31, 2000 |
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Security Description/Asset ID |
Shares/Par Value |
Historical Cost |
Current Value |
|
Corporate Stock - Common |
|||
|
United States - USD |
|||
|
**BAUSCH & LOMB INC COM CUSIP: 071707103 |
1,370,665.000
|
44,538,428.34 |
55,426,265.94 |
|
Total United States USD |
44,538,428.34 |
55,426,265.94 |
|
|
Total Corporate Stock Common |
44,538,428.34 |
55,426,265.94 |
|
|
Loans to Participants/Other |
|||
|
United States USD |
|||
|
PARTICIPANT LOANS FOR THE BAUSCH & LOMB SAVINGS |
|
|
|
|
(INTEREST RATES 8.75% - 10.5%) |
|||
|
Total United States USD |
8,774,803.00 |
||
|
Total Loans to Participants/Other |
8,774,803.00 |
||
|
Value of Interest in Common/Collective Trusts |
|||
|
United States USD |
29.160 |
||
|
COLTV SHORT TERM INVT FD CUSIP: 195998AC3 |
717,084.79 |
||
|
Total United States USD |
717,084.79 |
||
|
Total Value of Interest in Common/Collective Trusts |
717,084.79 |
||
|
**Denotes party-in-interest |
|||
|
Shares/Par Value |
Current Value |
|
|
Value of Interest in Registered Investment Companies |
||
|
United States - USD |
||
|
MFO FID CONCORD STR FID U S BD INDEX PORTFOLIO CUSIP: 315911107 |
380,619.822 |
4,030,763.92 |
|
MFO FID EQTY INC FD SH BEN INT CUSIP: 316132106 |
752,061.250 |
40,182,632.59 |
|
MFO FID INSTL INVS TR FREEDOM 2010 FD CUSIP: 31617R506 |
121,903.940 |
1,687,150.53 |
|
MFO FID INSTL INVS TR FREEDOM 2020 FD CUSIP: 31617R605 |
151,353.270 |
2,203,703.61 |
|
MFO FID INSTL INVS TR FREEDOM 2030 FD CUSIP: 31617R704 |
150,412.780 |
2,256,191.70 |
|
MFO FIDELITY CONTRAFUND INC OPEN END FD CUSIP: 316071109 |
596,444.938 |
29,327,197.65 |
|
MFO FIDELITY FMM RET GOVT MM CUSIP: 316191709 |
3,858,649.390 |
3,858,649.39 |
|
MFO FIDELITY INVT TR DIVERSIFIED INTL FDOPEN END FD CUSIP: 315910802 |
268,337.770 |
5,887,330.82 |
|
MFO FIDELITY MAGELLAN FD INC OPEN END FD CUSIP: 316184100 |
120,833.830 |
14,415,476.22 |
|
MFO FIDELITY OTC PORTFOLIO OPEN END FD CUSIP: 316389105 |
455,685.650 |
18,705,896.68 |
|
MFO FIDELITY PURITAN FD OPEN END FD CUSIP: 316345107 |
1,395,507.700 |
26,277,410.89 |
|
MFO FIDELITY SPARTAN US EQTY INDEX FD OPEN END FD CUSIP: 315911206 |
657,115.354 |
30,759,569.76 |
|
Total United States - USD |
179,591,974.00 |
|
|
Total Value of Interest in Registered Investment Companies |
179,591,974.00 |
|
|
Value of Funds Held in Insurance Company General Accounts |
||
|
Met Life Insurance Company GAC #13388 6.25% CUSIP: 999499VE3 |
11,720,991.150 |
11,720,991.15 |
|
Total United States - USD |
11,720,991.15 |
|
|
Total Value of Funds Held in Insurance Company General Accounts |
11,720,991.15 |
|
|
Synthetic Investment Contract* |
||
|
Monumental Life Insurance Company |
||
|
6.279% to 6.391% |
||
|
Underlying Securities (Bernstein): |
||
|
Non-Interest Bearing Cash - USD |
||
|
USD-United States dollar |
99,096.30 |
99,096.30 |
|
Total - all currencies |
99,096.30 |
|
|
Total Non-Interest Bearing Cash - USD |
99,096.30 |
|
|
U.S. Government Securities |
||
|
United States - USD |
||
|
FHLB 4.875 01-26-2001 CUSIP: 3133M7G83 |
130,000.00 |
129,898.60 |
|
FHLB BD 6.465 02-16-2001 CUSIP: 3133MAWL9 |
115,000.00 |
115,000.00 |
|
FHLB BD 6.5 04-26-2001 CUSIP: 3133MBEJ2 |
225,000.00 |
225,456.75 |
|
FHLB CONS BD 6.4 02-09-2001 CUSIP: 3133MAR43 |
45,000.00 |
45,000.00 |
|
FHLMC TBA GOLD POOL #9999999 7.5 47119-2029 REG CUSIP: 02R072618 |
2,210,000.00 |
2,243,835.10 |
|
FHLMC TBA POOL 6 30YR JAN CUSIP: 02R060613 |
275,000.00 |
266,406.25 |
|
FHLMC TBA POOL 7 GOLD 30YR JAN CUSIP: 02R070612 |
2,700,000.00 |
2,705,913.00 |
|
FHLMC ZERO COUPON 01-16-2001 CUSIP: 312902LU1 |
955,000.00 |
952,163.65 |
|
FHLMC ZERO CPN DUE 04-26-2001 BEO CUSIP: 31339REK9 |
1,410,000.00 |
1,345,007.37 |
|
FNMA REMIC 1999-41 CL PD 6.5 08-25-2013 CUSIP: 31359WPC9 |
145,000.00 |
144,953.60 |
|
FNMA SER 1999-19 CL TD 6.5 04-25-2013 CUSIP: 31359VL76 |
185,000.00 |
185,114.70 |
|
FNMA TBA POOL #9999999 7 DUE 01-01-2 REG CUSIP: 01F070419 |
730,000.00 |
737,759.90 |
|
FNMA TBA POOL #9999999 7.5 DUE 01-01-2030 REG CUSIP: 01F072415 |
475,000.00 |
485,093.75 |
|
FNMA TBA POOL #9999999 8 DUE 01-19-2030 REG CUSIP: 01F080616 |
95,000.00 |
97,345.55 |
|
GNMA, POOL #780118 9.5 DUE 08-15-2021 REG CUSIP: 36225ADX5 |
74,813.11 |
79,348.28 |
|
GNMA REMIC TR 1995-4 CL CQ 8 PASS THRU DUE 6-20-25 REG CUSIP: 3837HOHW6 |
6,925.59 |
7,131.14 |
|
GNMA, POOL #780049 SERIES 2021 9.5% DUE 11-15-2021 CUSIP: 36225ABS8 |
28,565.24 |
30,261.16 |
|
GNMA, POOL #780772 SERIES 2017 8.0% DUE 12-15-2017 CUSIP: 36225A2D1 |
180,433.12 |
187,311.23 |
|
US TREAS BDS 6.125 DUE 08-15-2029 BEO PUT CUSIP: 912810FJ2 |
595,000.00 |
647,157.70 |
|
US TREAS INFLATION INDEX 3.625 NT DUE 04-15-2028 REG CUSIP: 912810FD5 |
175,000.00 |
184,646.00 |
|
US TREAS INFLATION INDEX 3.875 NT DUE 04-15-2029 REG CUSIP: 912810FH6 |
305,000.00 |
312,625.00 |
|
Total United States - USD |
11,127,428.73 |
|
|
Total U.S. Government Securities |
11,127,428.73 |
|
|
*Represents synthetic investment contract whereby assets are placed in a trust |
||
|
United States - USD |
||
|
AT&T CAP CORP MEDIUM TERM NTS-BOOK ENTRY 6.875 DUE 01-16-2001 |
|
|
|
ABN AMRO BK N V CHGO BRH 7.55 DUE 06-28-2006 REG CUSIP: 00077QAD2 |
125,000.00 |
131,290.00 |
|
ALCOA INC 7.375 DUE 08-01-2010 BEO CUSIP: 013817AB7 |
145,000.00 |
153,060.55 |
|
AMERN GEN CORP SR NT 8.5 DUE 07-01-2030 BEO PUT CUSIP: 026351BB1 |
70,000.00 |
72,225.30 |
|
AON CAP A 8.205 DUE 01-01-2027 REG PUT CUSIP: 037388AE5 |
175,000.00 |
160,912.50 |
|
ARCHER DANIELS MIDLAND CO NT 6.625 DUE 05-01-2029 BEO PUT CUSIP: 039483AR3 |
185,000.00 |
165,835.85 |
|
AST SECURITIZATION CORP PASS THRU CTF 97-D4 CL A-1D 7.48999 04-14-2029 BEO |
|
|
|
AST SECURITIZATION CORP SER 1997-MD7 CL A1A 7.32 COML MTG PASS THRU |
|
|
|
AT&T CORP NTS 6.5 DUE 03-15-2029 BEO PUT CUSIP: 001957AW9 |
115,000.00 |
91,916.05 |
|
BELLSOUTH CAP FDG CORP 6.04 DEB DUE 11-15-2026/01 PUTTABLE PAY |
|
|
|
BOEING CAP CORP MEDIUM TERM SR NTS BOOK ENTRY 5.56 DUE 02-05-2001 |
|
|
|
BRIT TELECOMMUNICATIONS P L C NT 8.625 DUE 12-15-2030 BEO PUT CUSIP: 111021AE1 |
115,000.00 |
114,534.25 |
|
BSCH ISSUANCES LTD 7.625 DUE 09-14-2010 BEO CUSIP: 055654AB3 |
150,000.00 |
150,616.50 |
|
CIGNA CORP 7.875 DEB DUE 05-15-2027 CUSIP: 125509AZ2 |
190,000.00 |
186,194.30 |
|
CITIGROUP INC SUB NT 7.25 DUE 10-01-2010 BEO PUT CUSIP: 172967AZ4 |
85,000.00 |
87,914.65 |
|
CMO BEAR STEARNS COML MTG SECS INC 5.91 DUE 02-14-2031 BEO CUSIP: 07383FAP3 |
220,942.90 |
218,952.20 |
|
CMO COML MTG AST TR CMAT 99-C2 A1 7.28499 DUE 11-17-2032 BEO PUT |
|
|
|
CMO GS MTG SECS CORP 11 COML MTG PASS THRU CTF CL A-1 6.05999 DUE CUSIP: 36228CCJO |
|
|
|
CMO PRUDENTIAL SECS SECD FING CORP COML MTG PASS 1998-C1 CL A-1A1 6.105 11-15-02 CUSIP: 74436JDL8 |
|
|
|
COPELCO CAP FDG CORP 11 SER 1996-A CL-A 6.34 AST BACKED CTF DUE 07-20-2004 BEO CUSIP: 217245AG4 |
|
|
|
COPELCO CAP FDG TR 1998-A LEASE BACKED NT CL A-3 5.78 DUE 08-15-2001 BEO PUT CUSIP: 217247AC |
|
|
|
CR SUISSE 1ST BSTN MTG SECS CORP 97-C2 CL A2 6.52 ABS CTF DUE 1-17-2035 CUSIP: 22540AERS |
|
|
|
CR SUISSE 1ST BSTN MTG SECS CORP SER 1997-C1 CL A1B 7.15 CMO CTF 8-20-6 BEO CUSIP: 21540AAL2 |
|
|
|
CR SUISSE 1ST BSTN MTG SECS CORP SER 97-C2 CL A1 6.4 PASS THRU CTF DUE 2-17-04 CUSIP: 22540AEQ7 |
|
|
|
CR SUISSE 1ST BSTN MTG SECS CORP SER 98-C1 CL A1A 6.26 MTG P-THRU CTF 12-25-3 CUSIP: 22540AFR |
|
|
|
DAIMLER CHRYSLER N AMER HLDG CORP 8 DUE 06-15-2010 CUSIP: 233835AK3 |
45,000.00 |
45,256.95 |
|
FLEETBOSTON FINL CORP 7.25 DUE 09-15-2005 BEO CUSIP: 339030AB4 |
200,000.00 |
205,668.00 |
|
FORD MTR CO DEL 6.375 DUE 02-01-2029 BEO CUSIP: 345370BZ2 |
60,000.00 |
48,525.60 |
|
FORD MTR CO DEL 7.125 DUE 11-15-2025 REGPUT CUSIP: 345370BN9 |
155,000.00 |
140,036.30 |
|
FORD MTR CR CO 7.875 DUE 06-15-2010BEO CUSIP: 345397ST1 |
30,000.00 |
30,860.10 |
|
Corporate Debt Instruments - Preferred |
||
|
United States - USD |
||
|
GE CAP MTG SVCS INC REMIC MC PASS THRU CTF 1994-11 CL A1 6.5 DUE 04-25-2024 BEO CUSIP: 36157LV88 |
|
|
|
GREEN TREE FINL CORP 5.76 DUE 11-01-2018 BEO PUT CUSIP: 393505S94 |
255,000.00 |
246,870.60 |
|
GREEN TREE RECREATIONAL EQUIP & CNSMR TR97-C CL A1 6.49 ABS CTF DUE 2-15-18 BEO CUSIP: 393533BJ2 |
|
|
|
GREEN TREE RECREATIONAL EQUIP & CNSMR TRSER 1998-A CL A1C 6.18 ABS CTF 6-15-19 CUSIP: 393533BV5 |
|
|
|
HARLEY DAVIDSON EAGLEMARK MOTORCYCLE TR SER 98-1 CL A2 5.94 CTF ABS 2-15-04 CUSIP: 412906AL3 |
|
|
|
HARLEY-DAVIDSON EAGLEMARK MOTORCYCLE TR 2000-2 CL A-2 7.18 05-15-2008 BEO CUSIP: 412906BH |
|
|
|
HONDA AUTO LEASE TR SER 1999-A CL A4 ASTBKD 6.44999 DUE 09-15-2002 BEO PUT CUSIP: 438116AD7 |
|
|
|
INTL BUSINESS MACHS CORP 7.125 DEB DUE 12-01-2096 CALL CUSIP: 459200AP6 |
55,000.00 |
50,796.90 |
|
LOWES COS INC 6.875 DUE 02-15-2028 REG PUT CUSIP: 548661AH0 |
115,000.00 |
100,605.45 |
|
MERRILL LYNCH & CO INC MTN 7.18 DUE 02-11-2003 BEO CUSIP: 59018YAW1 |
125,000.00 |
127,420.00 |
|
MMI CAP TR 1 SER B 7.625 BD DUE 12-15-2027 CUSIP: 553086AC3 |
170,000.00 |
153,473.11 |
|
MONY GROUP INC 8.35 DUE 03-15-2010 BEO PUT CUSIP: 615337AA0 |
170,000.00 |
178,160.00 |
|
MORGAN ST CAP 1 INC SER 1998-XL1 CL A1 6.22 MTG PASS THRU CTF DUE 06-01-2030 BEO CUSIP: 61745MGG2 |
|
|
|
MORGAN ST CAP 1 INC SER 97-XL1 CL-A1 6.59 COML MTG PASS THRU CTF DUE 10-3-2030 CUSIP: 61745MDB6 |
|
|
|
MORTON INTL INC IND CR SENSITIVE 9.25 DEB DUE 6-1-20 REG CUSIP: 619331AA9 |
80,000.00 |
91,388.00 |
|
NEWCOURT RECEIVABLES AST TR SER 1997-1 CL A4 6.193 ABS CTF DUE 05-20-2005 BEO CUSIP: 65118YAN7 |
|
|
|
PHILIP MORRIS COS INC 7.25 DUE 09-15-2001 REG PUT CUSIP: 718154CD7 |
200,000.00 |
199,100.00 |
|
STRUCTURED AST SECS CORP SER 97-LL 1 CL A1 6.79 COML MTG PASS THRU CTF 6-12-4 BEO CUSIP: 863572PN7 |
|
|
|
TCI COMMUNICATIONS INC 7.875 DUE 02-15-2026 REG PUT CUSIP: 872287AF4 |
105,000.00 |
98,609.70 |
|
WELLS FARGO & CO NEW 7.25 DUE 08-24-2005 BEO PUT CUSIP: 949746CC3 |
195,000.00 |
202,250.10 |
|
Total United States USD |
6,201,005.38 |
|
|
Total Corporate Debt Instruments Preferred |
6,201,005.38 |
|
|
Corporate Debt Instruments - Other |
||
|
United States - USD |
||
|
##CMO LB COML CONDUIT MTG TR CL A 1 6.3311-18-04 DO NOT USE SEE 4455086 CUSIP: 501773AZ8 |
|
|
|
ALBERTSONS INC SR DEB 8.7 DUE 05-01-2030 BEO PUT CUSIP: 013104AH7 |
175,000.00 |
180,421.50 |
|
AMERN GEN FIN CORP MEDIUM TERM SR NTS-BOOK ENTRY TRANCHE # TR 00324 6.55 CUSIP: 02635PPM9 |
|
|
|
CASE CR CORP MEDIUM TERM NTS BOOK ENTRY 5.93 DUE 02-26-2001 CUSIP: 146908AC2 |
25,000.00 |
24,597.75 |
|
CASE EQUIP RECEIVABLES TR SER 1998-B ASTBACKED NT CL A-3 5.81 DUE 05-15-2003 BEO CUSIP: 147444AC7 |
|
|
|
CHAMPION INTL CORP 7.2 DUE 11-01-2026 REG PUT CUSIP: 158525AT2 |
75,000.00 |
73,783.50 |
|
CHAMPION INTL CORP DEB 7.15 DUE 12-15-2027 BEO PUT CUSIP: 158525AV7 |
45,000.00 |
40,318.20 |
|
CITIGROUP CAP III TR PFD SECS 7.625 DUE 12-01-2036 BEO CUSIP: 17305HAA6 |
80,000.00 |
74,590.40 |
|
CMO DLJ COML MTG CORP SER 1999-CG3 CL A-1A 7.12 DUE 10-10-2032 BEO PUT CUSIP: 23322BFZ6 |
|
|
|
CMO HELLER FINL COML MTG AST CORP MTG SER 2000 PH-1 CL A-1 7.715 O9-15-08 BEO CUSIP |
|
|
|
COMDISCO INC MEDIUM TERM NTS-BOOK ENTRY TRANCHE # TR 00141 6.68 DUE 06-29-2001 CUSIP: 20033RFW4 |
|
|
|
COPELCO CAP RECEIVABLES LLC SER 2000-A LEASE CL A-3 7.12 8-18-03 BEO CUSIP: 21724PAD7 |
|
|
|
COX COMMUNICATIONS INC NEW NT 7.75 DUE 11-01-2010 BEO PUT CUSIP: 224044AY3 |
145.000.00 |
150,102.55 |
|
DLJ MTG ACCEP CORP SER 94-MF 11 CL A-1 MULTIFAM MTG PASS THRU 8.1 CTF 6-18-2004 CUSIP: 23321PLT3 |
|
|
|
EOP OPER LTD PARTNERSHIP MANDATORY PAR PUT REMARKETED SECS 6.376 DUE 02-15-2012 CUSIP: 268776A2 |
|
|
|
FFCB DISC NT 02-22-2001 CUSIP: 313313CE6 |
115,000.00 |
111,021.49 |
|
FHLB DISC NT 01-12-2001 CUSIP: 313385AM8 |
370,000.00 |
358,943.81 |
|
FHLB DISC NT 02-20-2001 CUSIP: 313385CC8 |
215,000.00 |
207,918.41 |
|
FHLB DISC NT 03-02-2001 CUSIP: 313385CN4 |
1,700,000.00 |
1,639,041.94 |
|
GMAC COML MTG SEC INC 97-C1 CL A1 6.83 MTG PASS THRU CTF DUE 12-15-03 BEO CUSIP: 361849BT8 |
|
|
|
GS MTG SECS CORP 11 CL 98-GL 11 CL A-1 6.312 PASS THRU CTF DUE 04-13-2031 CUSIP: 36228CAZ |
|
|
|
HRPT PPTYS TR SR NT 6.875 DUE 08-26-2002 BEO CUSIP: 40426WAF8 |
115,000.00 |
113,574.00 |
|
INGERSOLL RAND CO SER B 6.015 MTN DUE 02-15-2028 BEO ANNUAL OPT PUT START **PUT CUSIP: 45686XCF8 |
|
|
|
INGERSOLL RAND CO SER B 6.13 MTN DUE 11-18-2027 BEO ANNUAL OPT PUT PAY 1**PUT CUSIP: 45686XCC5 |
|
|
|
KEYCORP CAP III CAP SECS 7.75 DUE 07-15-2029 BEO PUT CUSIP: 49326QAA4 |
60,000.00 |
51,204.00 |
|
MARCONI PLC MARCONI PLC YANK 7 75 7.75 DUE 09-15-2010 BEO PUT CUSIP: 566306AA4 |
110,000.00 |
105,568.10 |
|
NOBLE AFFILIATES INC 7.25 DUE 08-01-2097 REG PUT CUSIP: 654894AG9 |
50,000.00 |
43,862.00 |
|
PHILLIPS PETE CO NT 8.75 DUE 5-25-2010 BEO PUT CUSIP: 718507BQ8 |
130,000.00 |
148,751.20 |
|
REYNOLDS METALS CO-MEDIUM TERM NTS 7 DUE 05-15-2009 BEO CUSIP: 76176LFF3 |
55,000.00 |
56,761.65 |
|
SEARS ROEBUCK ACCEP CORP MEDIUM TERM NTS BOOK ENTRY 6.93 DUE 10-03-2002 PUT CUSIP: 81240QCP5 |
|
|
|
WESTVACO CORP DEL 8.2 DUE 01-15-2030 BEO PUT CUSIP: 961548AV6 |
180,000.00 |
176,938.20 |
|
Total United States USD |
5,170,850.68 |
|
|
Total Corporate Debt Instruments - Other |
5,170,850.68 |
|
|
Value of Interest in Common/Collective Trusts |
||
|
United States - USD |
||
|
COLTV SHORT TERM INVT FD CUSIP: 195998AC3 |
1,076,670.03 |
1,076,670.03 |
|
Total United States - USD |
1,076,670.03 |
|
|
Total Value of Interest in Common/Collective Trusts |
1,076,670.03 |
|
|
Other |
||
|
United States - USD |
||
|
ISR ST BD 7.25 DUE 12-15-2028 BEO CUSIP: 465138ZR9 |
135,000.00 |
116,923.50 |
|
QUE PROV CDA DEB DTD 02/09/1994 7.125 DUE 02-09-2024 REG PUT CUSIP: 748148PD9 |
75,000.00 |
76,543.50 |
|
Total United States USD |
193,467.00 |
|
|
Total Other |
193,467.00 |
|
|
Other Liabilities |
||
|
Pending trade purchases: United States dollar |
0.00 |
-6,497,637.87 |
|
Total - all currencies |
-6,497,637.87 |
|
|
Total Other Liabilities |
-6,497,637.87 |
|
|
Subtotal |
17,370,880.25 |
|
|
Underlying Securities (Clover Capital): |
||
|
U.S. Government Securities |
||
|
United States - USD |
||
|
FHLMC MULTICLASS SER 1698 CL G 6.0 MTG PARTN CTF DUE 05-15-2008 REG CUSIP: 3133T4QP |
|
|
|
FHLMC MULTICLASS SER 1896 CL G 6.0 MTG PARTN CTF DUE 06-15-2005 REG CUSIP: 3133T82Q |
|
|
|
FNMA MTN 6.31 11-01-2004 CUSIP: 31364C5A2 |
750,000.00 |
764,647.50 |
|
FNMA REMIC TR SER 1993-137 CL E 6.75 GTDMTG PASS THRU CTF DUE 02-25-2008 REG CUSIP: 31359BV20 |
|
|
|
FNMA REMIC TR SER 1993-191 CL PH 6.00 GTD MTG PASS THRU CTF DUE 05-25-2008 REG CUSIP: 31359EUC3 |
|
|
|
FNMA REMIC TR SER 93-93 CL E 6.25000 GTDMTG PASS THRU CTF DUE 04-25-2007 REG CUSIP: 31359AEF2 |
|
|
|
US TREAS BDS 6.375 DUE 08-15-2027 REG PUT CUSIP: 91281OFA1 |
1,100,000.00 |
1,218,250.00 |
|
US TREAS BDS 7.25 DUE 08-15-2022 REG PUT CUSIP: 912810EM6 |
1,000,000.00 |
1,205,620.00 |
|
US TREAS BDS 7.5 DUE 11-15-2016 REG PUT CUSIP: 912810DX3 |
1,800,000.00 |
2,169,558.00 |
|
US TREAS SEC STRIPPED INT PMT 02-15-2016 REG CUSIP: 912833KG4 |
1,600,000.00 |
691,616.00 |
|
Total United States USD |
9,257,735.09 |
|
|
Total U.S. Government Securities |
9,257,735.09 |
|
|
|
||
|
Corporate Debt Instruments - Preferred |
||
|
United States USD |
||
|
1ST DATA CORP MEDIUM TERM NTS BOOK ENTRY 5.8 DUE 12-15-2008 BEO CUSIP: 32006YAH5 |
|
|
|
ANHEUSER BUSCH COS INC 6.75 NT DUE 08-01-2003 BEO CUSIP: 035229BJ1 |
1,100,000.00 |
1,123,573.00 |
|
EMERSON ELEC CO EMERSON ELEC 7.125 DUE 08-15-2010 BEO CUSIP: 291011AM6 |
1,250,000.00 |
1,308,537.50 |
|
FORD MTR CR CO GLOBAL LANDMARK SECS-GLOBLS 6.7 DUE 07-16-2004 BEO PUT CUSIP: 34539TAKI |
400,000.00 |
399,772.00 |
|
NORTHN ILL GAS CO 6.75 DUE 06-01-2002/06-01-2001 REG CUSIP: 665228BN1 |
1,150,000.00 |
1,155,520.00 |
|
NTHN STS PWR CO WIS 5.75 1ST MTG DUE 10-1-03 REG CUSIP: 665789AM5 |
500,000.00 |
494,420.00 |
|
NORTHN STS PWR CO MINN 5.875 DUE 03-01-2003 REG PUT CUSIP: 665772BP3 |
500,000.00 |
497,790.00 |
|
PROCTER & GAMBLE CO 8 DUE 11-15-2003 REG PUT CUSIP: 742718BA6 |
750,000.00 |
792,360.00 |
|
SYSCO CORP 6.5 NT DUE 06-15-2005 REG CUSIP: 871829AB3 |
1,000,000.00 |
1,009,340.00 |
|
WAL-MART STORES INC NT 6.875 DUE 08-10-2009 BEO PUT CUSIP: 931142BE2 |
1,000,000.00 |
1,043,580.00 |
|
ZENCA WILMINGTON INC 6.3 DUE 06-15-2003 REG PUT CUSIP: 98934KAA8 |
1,000,000.00 |
1,010,490.00 |
|
Total United States USD |
9,314,987.50 |
|
|
Total Corporate Debt Instruments Preferred |
9,314,987.50 |
|
|
Corporate Debt Instruments - Other |
||
|
CANANDAIGUA WINE INC 8.75 DUE 12-15-2003/12-5-1998 REG CUSIP: 137219AB7 |
500,000.00 |
495,625.00 |
|
COLGATE-PALMOLIVE CO MEDIUM TERM NTS BOOK ENTRY TRANCHE # TR 00058 5.27 DUE CUSIP: 19416QCK4 |
|
|
|
COLUMBIA ENERGY GROUP 6.61 DUE 11-28-2002 REG PUT CUSIP: 197648BZ0 |
824,000.00 |
829,899.84 |
|
Total United States USD |
1,963,317.84 |
|
|
Total Corporate Debt Instruments Other |
1,963,317.84 |
|
|
Value of Interest in Common/Collective Trusts |
||
|
United States - USD |
||
|
COLTV GOVT STIF REG CUSIP: 195998BDO |
350,925.95 |
350,925.95 |
|
Total United States - USD |
350,925.95 |
|
|
Total Value of Interest in Common/Collective Trusts |
350,925.95 |
|
|
Subtotal |
20,886,966.38 |
|
|
Underlying Securities (MAS): |
||
|
Value of Interest in Common/Collective Trusts |
||
|
United States - USD |
||
|
COLTV SHORT TERM INVT FD CUSIP: 195998AC3 |
207.78 |
207.78 |
|
Total United States - USD |
207.78 |
|
|
Total Value of Interest in Common/Collective Trusts |
207.78 |
|
|
Value of Interest in Registered Investment Companies |
||
|
United States USD |
|
|
|
Total United States USD |
512,614.44 |
|
|
Total Value of Interest in Registered Investment Companies |
512,614.44 |
|
|
Subtotal |
512,822.22 |
|
|
Total Value $38,770,668.85, Wrapper $727,989.29 |
39,498,658.14 |
|
|
Total Investments |
295,729,777.00 |
|
Consent of Independent Accountants
We hereby consent to the incorporation by reference in the Registration Statement on Form S-8
(Nos. 2-56066, 2-85158, 33-15439, 33-35667, 333-03611 and 333-18057) of Bausch & Lomb Incorporated of our report dated May 24, 2001 appearing on page 2 of this Annual Report of The Bausch & Lomb 401(K) Account Plan on
Form 11-K for the fiscal year ended December 31, 2000.
PricewaterhouseCoopers LLP
Rochester, New York
June 27, 2001