-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UKpYMlLxNzDnbdy4CeOkw6xFvyvRfd5ODIqU/ZN+HFvZ85z6+DBi1MvJ9R05kdiA M6JFI1k0aAb1xO5qLiv0dw== 0000911916-00-000012.txt : 20000203 0000911916-00-000012.hdr.sgml : 20000203 ACCESSION NUMBER: 0000911916-00-000012 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 20000131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTB INTERNATIONAL CORP CENTRAL INDEX KEY: 0001038005 STANDARD INDUSTRIAL CLASSIFICATION: FARM MACHINERY & EQUIPMENT [3523] IRS NUMBER: 351970751 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-22973 FILM NUMBER: 518260 BUSINESS ADDRESS: STREET 1: STATE ROAD 15 NORTH STREET 2: P O BOX 2000 CITY: MILFORD STATE: IN ZIP: 46542 BUSINESS PHONE: 2196584191 MAIL ADDRESS: STREET 1: STATE ROAD 15 NORTH STREET 2: P O BOX 2000 CITY: MILFORD STATE: IN ZIP: 46542 11-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1998 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____. Commission file number 000-22973 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: CTB, INC. PROFIT SHARING PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: CTB INTERNATIONAL CORP. STATE ROAD 15 NORTH P.O. BOX 2000 MILFORD, INDIANA 46542-2000 REQUIRED INFORMATION Item 4. The Plan is subject to the Employee Retirement Income Security Act of 1974 ("ERISA") and the Plan's financial statements and schedules have been prepared in accordance with the financial reporting requirements of ERISA. Such financial statements and schedules are included in this Report in lieu of the information required by Items 1-3 of Form 11-K. FINANCIAL STATEMENTS AND EXHIBITS (a)Financial Statements: Independent Auditors' Report Financial Statements: Statements of Net Assets Available for Benefits as of December 31, 1998 and 1997 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1998 Notes to Financial Statements Supplemental Schedules: Item 27a - Form 5500 - Schedule of Assets Held for Investment Purposes as of December 31, 1998 (Schedule I) Item 27d - Form 5500 - Schedule of Reportable Transactions for the Year Ended December 31, 1998 (Schedule II) Item 27a - Form 5500 - Schedule of Investment Assets Both Acquired and Disposed of Within the Plan Year (Schedule III) (Supplemental schedules not listed are omitted due to the absence of conditions under which they are required.) (b) Exhibits 23 - Consent of Deloitte & Touche LLP INDEPENDENT AUDITORS' REPORT CTB, Inc. Profit Sharing Plan: We have audited the accompanying financial statements of CTB, Inc. Profit Sharing Plan as of December 31, 1998 and 1997, and for the year ended December 31, 1998, listed in the table of contents. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 1998 and 1997, and the changes in net assets available for benefits for the year ended December 31, 1998 in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 1998 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. /s/ Deloitte & Touche LLP Deloitte & Touche LLP Chicago, Illinois January 25, 2000 CTB, INC. PROFIT SHARING PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1998 AND 1997
ASSETS 1998 1997 INVESTMENTS - At fair value: Collective investment funds $36,757,496 $27,941,937 U.S. Government securities 2,272,679 793,234 Common stock 10,908,290 13,937,468 Money market fund 1,787,046 1,866,901 ----------- ----------- Total investments 51,725,511 44,539,540 RECEIVABLES: Interest and dividends 43,069 24,822 Employer contributions 70,130 120,084 Employee contributions 49,546 Investment sales 1,963,658 1,266,411 ----------- ---------- Total receivables 2,076,857 1,460,863 ----------- ---------- Total assets 53,802,368 46,000,403 LIABILITIES ACCOUNTS PAYABLE FOR PENDING INVESTMENT PURCHASES 1,012,301 253,270 ----------- ----------- NET ASSETS AVAILABLE FOR BENEFITS $52,790,067 $45,747,133 ----------- ----------- ----------- -----------
See notes to financial statements. CTB, INC. PROFIT SHARING PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 1998 ADDITIONS TO NET ASSETS ATTRIBUTED TO: Interest, dividend and other income $ 204,366 Net appreciation in fair value of investments 7,372,920 Employer contributions 1,332,198 Employee contributions 1,677,349 Rollover contributions from other plans 22,730 ----------- Total additions 10,609,563 DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Payments to participants 3,351,172 Administrative expenses 215,457 ----------- Total deductions 3,566,629 ----------- NET INCREASE IN PLAN ASSETS 7,042,934 NET ASSETS AVAILABLE FOR BENEFITS - Beginning of year 45,747,133 ----------- NET ASSETS AVAILABLE FOR BENEFITS - End of year $52,790,067 ----------- ----------- See notes to financial statements. CTB, INC. PROFIT SHARING PLAN NOTES TO FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 1998 1. DESCRIPTION OF THE PLAN The following brief description of the CTB, Inc. Profit Sharing Plan (the "Plan") is provided for general information purposes only. Participants should refer to the Plan agreement for more complete information. GENERAL - The Plan is a defined contribution plan for all employees of CTB, Inc. (the "Company"), other than temporary employees, who have attained age 18. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). ADMINISTRATION - A trustee appointed by the Company maintains a separate fund for the Plan, invests contributions, disburses funds to participants and maintains individual members' accounts to which fund assets are allocated. Plan administrative expenses are paid by the Plan. CONTRIBUTIONS - Employees may elect to contribute up to 16% of their total compensation to the Plan on a pretax basis. Additional voluntary employee contributions may be made during the year, but no income tax deduction is allowed to the employee on these contributions. Individual employee contributions cannot exceed certain levels as prescribed by the Internal Revenue Code. Upon authorization of the Company's Board of Directors, the Company may make a matching contribution. The Company's matching 401(k) contribution for 1998 was 50% of the first 4% of base pay contributed per employee. In addition to its matching contributions, the Company may make discretionary contributions based upon the Company's earnings. Company contributions of approximately $920,000 in 1998 were made at the discretion of the Company and approved by the Company's Board of Directors. Employees must direct their own contributions and the Company's matching and discretionary contributions to any or all of seven funds: a Managed Guaranteed Investment Contract ("Magic") Fund, an Aggressive Equity Fund, a Value Equity Fund, an Equity Index Fund, a Government Bond Fund, a Government Money Market Fund and CTB International Corp. (employer) Stock Fund. Employees may change their investment options quarterly. PLAN FUNDING - The Company's discretionary contributions and Plan earnings thereon and forfeitures are allocated to the account of each participant based on the ratio of each participant's compensation to total annual compensation of all participants during the year. VESTING - Participants immediately vest in their contributions and actual earnings thereon. Participants vest in their allocated portion of the Company's contributions and related Plan earnings based upon length of service. Such vesting ranges from 20% after three years of service to 100% after seven years of service. PARTICIPANT ACCOUNTS - Each participant's account is credited with the participant's contributions and withdrawals, as applicable, and allocations of (a) Company contributions, and (b) Plan earnings, and debited with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. Forfeited balances of terminated participants' nonvested accounts are reallocated to the remaining participants. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. PAYMENT OF BENEFITS - On termination of service, a participant may elect to receive either a lump-sum amount equal to the value of the participant's vested interest in his or her account, or annual installments over a ten-year period. TERMINATION - The Company expects the Plan to continue indefinitely, but 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 the Company terminates the Plan, the interest of all participants will be fully vested. TAX STATUS - The Plan has obtained a determination letter, dated May 14, 1996, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan Administrator believes that the Plan is currently designed and being operated in compliance with applicable rules and regulations. Therefore, no provision for income taxes has been included in the Plan's financial statements. 2. ACCOUNTING POLICIES The following are the significant accounting policies followed by the Plan: BASIS OF ACCOUNTING - The financial statements of the Plan are prepared using the accrual method of accounting. INVESTMENT VALUATION AND INCOME RECOGNITION - Investments in the Magic Fund, a collective investment fund, are fully benefit responsive, and are therefore valued at current participation unit value. Investments in other collective investment funds are stated at fair value based on closing prices of the net assets of shares held by the Plan at year-end. Other investments are stated at fair market value based upon quoted market prices. Net appreciation (depreciation) on investments for the year is reflected in the Statement of Changes in Net Assets Available for Benefits. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex- dividend date. 3. INVESTMENTS EXCEEDING 5% OF NET ASSETS The Plan's investments which exceeded 5% of net assets available for benefits as of December 31, 1998 and 1997 are as follows: DESCRIPTION OF INVESTMENT 1998 1997 Key Trust Company of Indiana, NA: Employee Benefit Value Equity Fund $ 12,111,769 $ 8,988,768 Employee Benefit Equity Index Fund 11,690,518 8,024,316 Magic Fund 12,955,209 10,928,853 4. INVESTMENT CONTRACTS WITH INSURANCE COMPANIES The Magic Fund, a collective investment fund, enters into contracts with various insurance companies. The GIC investments held by the Fund represent deposits which guarantee a stated interest rate for the term of the contracts. The contracts are valued at contract value as the contracts are fully benefit responsive. As of December 31, 1998, the fair value of the investment contracts approximates carrying value. The annual effective yield of the contracts held by the Magic Fund range from 5.27% to 5.63% for 1998. 5. NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION Net assets available for benefits, with fund information, as of December 31, 1998, are as follows:
Aggressive Employer Value Magic Equity Stock Equity Fund Fund Fund Fund Assets: Investments, at fair market value: Collective investment funds $12,955,209 $12,111,769 U.S. Government securities Common stock $ 9,892,237 $1,016,053 Money market fund 347,553 322,721 54,570 308,752 ----------- ----------- ---------- ----------- Total investments 13,302,762 10,214,958 1,070,623 12,420,521 Receivables: Interest and dividends 62 8,334 74 57 Employer contributions (107,811) 95,318 13,866 10,248 Investment sales 1,963,658 ----------- ----------- ---------- ----------- Total receivables (107,749) 2,067,310 13,940 10,305 ----------- ----------- ---------- ----------- Total assets 13,195,013 12,282,268 1,084,563 12,430,826 Liabilities: Accounts payable for pending investment purchases 347,552 38,750 308,751 ----------- ----------- ---------- ----------- Total liabilities 347,552 38,750 308,751 ----------- ----------- ---------- ----------- Net assets available for benefits $12,847,461 $12,282,268 $ 1,045,813 $12,122,075 ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Government Equity Government Money Index Bond Market Fund Fund Fund Total Assets: Investments, at fair market value: Collective investment funds $11,690,518 $36,757,496 U.S. Government securities $2,272,679 2,272,679 Common stock 10,908,290 Money market fund 317,811 241,108 $194,531 1,787,046 ----------- ---------- -------- ----------- Total investments 12,008,329 2,513,787 194,531 51,725,511 Receivables: Interest and dividends 68 33,762 712 43,069 Employer contributions (9,572) (11,397) 79,478 70,130 Investment sales 1,963,658 ----------- ---------- --------- ----------- Total receivables (9,504) 22,365 80,190 2,076,857 ----------- ---------- --------- ----------- Total assets 11,998,825 2,536,152 274,721 53,802,368 Liabilities: Accounts payable for pending investment purchases 317,248 1,012,301 ----------- ---------- --------- ----------- Total liabilities 317,248 1,012,301 ----------- ---------- --------- ----------- Net assets available for benefits $11,681,577 $ 2,536,152 $ 274,721 $52,790,067 ----------- ----------- --------- ----------- ----------- ----------- --------- -----------
Net assets available for benefits, with fund information, as of December 31, 1997 are as follows:
Aggressive Value Equity Magic Equity Equity Index Fund Fund Fund Fund Assets: Investments, at fair market value: Collective investment funds $10,928,853 $8,988,768 $8,024,316 U.S. Government securities Common stock $13,937,468 Money market fund 409,073 618,811 337,633 298,491 ----------- ----------- ---------- ---------- Total investments 11,337,926 14,556,279 9,326,401 8,322,807 Receivables: Interest and dividends 20 12,154 42 21 Employer contributions 30,201 40,708 24,807 22,041 Employee contributions 10,752 16,627 10,539 9,934 Investment sales 1,266,411 ------------ ----------- ---------- ---------- Total receivables 40,973 1,335,900 35,388 31,996 ------------ ----------- ---------- ---------- Total assets 11,378,899 15,892,179 9,361,789 8,354,803 Liabilities: Accounts payable for pending investment purchases 253,270 ------------ ----------- ---------- ---------- Total liabilities 253,270 ------------ ----------- ---------- ---------- Net assets available for benefits $11,378,899 $15,638,909 $9,361,789 $8,354,803 ----------- ----------- ---------- ---------- ----------- ----------- ---------- ----------
Government Government Money Bond Market Fund Fund Total Assets: Investments, at fair market value: Collective investment funds $27,941,937 U.S. Government securities $793,234 793,234 Common stock 13,937,468 Money market fund 76,511 $126,382 1,866,901 ------- -------- ----------- Total investments 869,745 126,382 44,539,540 Receivables: Interest and dividends 12,056 529 24,822 Employer contributions 2,327 120,084 Employee contributions 996 698 49,546 Investment sales 1,266,411 ------- -------- ----------- Total receivables 15,379 1,227 1,460,863 -------- -------- ----------- Total assets 885,124 127,609 46,000,403 Liabilities: Accounts payable for pending investment purchases 253,270 -------- -------- ----------- Total liabilities 253,270 -------- -------- ----------- Net assets available for benefits $885,124 $127,609 $45,747,133 -------- -------- ----------- -------- -------- -----------
6. CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION Changes in net assets available for benefits, with fund information, as of December 31, 1998, are as follows:
Aggressive Employer Value Magic Equity Stock Equity Fund Fund Fund Fund Additions to net assets attributable to: Interest, dividend and other income $ 750 $ 85,638 $ 1,483 $ 930 Net appreciation in fair value of investments 757,124 1,718,814 (76,271) 2,533,084 Employer contributions 102,315 343,907 53,074 325,967 Employee contributions 312,986 431,881 63,825 379,303 Rollover contributions from other plans 9,168 3,981 ----------- ----------- ---------- ----------- Total additions 1,173,175 2,589,408 42,111 3,243,265 Transfers (to) from other funds 889,393 (4,819,748) 1,006,066 358,590 Deductions from net assets attributed to: Payments to participants 567,025 1,012,763 1,174 806,750 Administrative expenses 26,981 113,538 1,190 34,819 ----------- ----------- --------- ----------- Total deductions 594,006 1,126,301 2,364 841,569 ----------- ----------- --------- ----------- Net increase (decrease) in plan assets 1,468,562 (3,356,641) 1,045,813 2,760,286 Net assets available for benefits - beginning of year 11,378,899 15,638,909 9,361,789 ----------- ----------- --------- ----------- Net assets available for benefits - end of year $12,847,461 $12,282,268 $1,045,813 $12,122,075 ----------- ----------- ---------- ----------- ----------- ----------- ---------- -----------
* * * * * *
Government Equity Government Money Index Bond Market Fund Fund Fund Total Additions to net assets attributable to: Interest, dividend and other income $ 1,600 $ 102,779 $ 11,186 $ 204,366 Net appreciation in fair value of investments 2,382,385 57,784 7,372,920 Employer contributions 299,472 51,413 156,050 1,332,198 Employee contributions 415,777 53,130 20,447 1,677,349 Rollover contributions from other plans 5,186 4,395 22,730 ----------- ---------- -------- ----------- Total additions 3,104,420 265,106 192,078 10,609,563 Transfers (to) from other funds 1,166,544 1,441,331 (42,176) Deductions from net assets attributed to: Payments to participants 915,490 45,751 2,219 3,351,172 Administrative expenses 28,700 9,658 571 215,457 ----------- ---------- -------- ----------- Total deductions 944,190 55,409 2,790 3,566,629 ----------- ---------- -------- ----------- Net increase (decrease) in plan assets 3,326,774 1,651,028 147,112 7,042,934 Net assets available for benefits - beginning of year 8,354,803 885,124 127,609 45,747,133 ----------- ---------- -------- ----------- Net assets available for benefits - end of year $11,681,577 $2,536,152 $274,721 $52,790,067 ----------- ---------- -------- ----------- ----------- ---------- -------- -----------
SCHEDULE I CTB, INC. PROFIT SHARING PLAN ITEM 27a - FORM 5500 - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1998
Number of Historical Units Description of Investment Fair Value Cost COLLECTIVE INVESTMENT FUNDS Key Trust Company of Indiana, NA: 22,888 Employee Benefit Value Equity Fund $12,111,769 $ 5,924,786 23,679 Employee Benefit Equity Index Fund 11,690,518 6,624,314 990,422 Magic Fund 12,955,209 10,556,397 ----------- ----------- Total collective investment funds 36,757,496 23,105,497 ----------- ----------- UNITED STATES(U.S.)GOVERNMENT SECURITIES 150,000 Federal Home Loan Banks, 5% due 10/23/2001 149,554 150,000 150,000 Federal Home Loan Banks, 4.565%, due 10/16/2000 148,946 149,984 300,000 U.S. Treasury Bonds, 6%, due 2/15/2026 327,234 317,668 75,000 U.S. Treasury Bonds, 6.5%, due 11/15/2026 87,281 74,601 425,000 U.S. Treasury Bonds, 5.5%, due 2/15/2008 450,500 436,042 80,000 U.S. Treasury Notes, 6.25%, due 2/15/2007 87,750 80,000 100,000 U.S. Treasury Notes, 7.875%, due 8/15/2001 107,812 103,281 100,000 U.S. Treasury Notes, 7.5%, due 11/15/2001 107,531 101,463 75,000 U.S. Treasury Notes, 7.25%, due 5/15/2004 84,059 74,468 225,000 U.S. Treasury Notes, 6.5%, due 10/15/2006 249,750 225,433 200,000 U.S. Treasury Notes, 5.75%, due 11/15/2000 203,874 200,784 115,000 U.S. Treasury Notes, 5.625%, due 12/31/1999 116,114 115,128 50,000 U.S. Treasury Notes, 5.5%, due 2/28/2003 51,508 51,688 100,000 U.S. Treasury Notes, 5.125%, due 8/31/2000 100,766 100,045 ---------- ---------- Total United States (U.S.) Government securities 2,272,679 2,180,585 ---------- ---------- COMMON STOCK 7,375 Helen of Troy Ltd. 108,324 110,536 4,000 AAR Corp. 95,500 90,428 4,400 AT&T Corp. 333,300 290,689 5,585 American, Power Conversion Corp. 270,526 140,949 5,040 Applebees International Inc. 103,950 105,597 5,676 Baldor Electric Co. 114,939 98,074 7,020 Best Software Inc. 166,725 112,289 6,000 Blyth Industries Inc. 187,500 177,391 2,675 Bristol-Myers Squibb Co. 357,950 175,366 132,161 CTB International Corp.* 1,016,054 1,089,682 7,650 Cisco Systems, Inc. 710,019 363,787 7,550 Compaq Computer Corp. 317,100 213,216 6,425 Concord EFS., Inc. 272,259 115,334 5,875 EMC Corp. Mass 499,375 125,318 8,900 Eagle USA Airfreight, Inc. 218,050 115,036 7,225 Emerson Electric Co. 437,112 380,338 4,000 Ethan Allen Interiors, Inc. 164,000 197,225 4,000 General Cigar Holdings, Inc. 34,752 29,041 4,900 General Electric Co. 499,800 164,370 4,000 Halliburton Co. 118,500 119,158 10,825 I-Stat Corp. 81,188 79,131 6,530 Innovex, Inc. 89,447 126,000 2,175 Intel Corp. 257,875 166,050 7,000 Leggett & Platt, Inc. 154,000 121,523 4,000 Lowe's Cos., Inc. 204,752 158,907 6,000 MSC Industrial Direct Co., Inc. 135,750 143,787 2,200 Mercantile Bankshares Corp. 84,700 78,089 1,850 Minerals Technologies, Inc. 75,735 83,543 2,500 Mueller Industries, Inc. 50,783 53,393 6,800 Networks Associates, Inc. 450,500 248,889 4,450 Northern Trust Corp. 388,543 150,648 8,300 PeopleSoft, Inc. 157,185 144,212 10,025 Personnel Group of America, Inc. 175,437 121,325 5,000 Pier 1 Imports Inc. 48,440 68,554 6,225 Robert Half International Inc. 277,013 128,664 3,200 Schlumberger Ltd. 148,400 163,862 8,550 Staffmark Inc. 191,306 153,267 5,237 Staples, Inc. 228,794 58,336 4,000 Starbucks Corp. 224,500 103,056 8,950 Tyco International Ltd. 675,170 290,489 15,650 Tyson Foods, Inc. 332,563 302,621 3,200 Wal-Mart Stores, Inc. 260,602 115,469 3,925 Whole Foods Market, Inc. 189,872 156,704 ----------- ----------- Total common stock 10,908,290 7,430,343 ----------- ----------- MONEY MARKET FUND Money Market Fund 1,787,046 1,787,046 ----------- ----------- TOTAL ASSETS HELD FOR INVESTMENT $51,725,511 $34,503,471 ----------- ----------- ----------- ----------- *Party-in-interest
SCHEDULE II CTB, INC. PROFIT SHARING PLAN ITEM 27D - FORM 5500 - SCHEDULE OF REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1998
Purchases Sales ---------------------- ------------------------ Description Number of Cost Number of Proceeds Gain (Loss) Trans- Trans- on Securi- actions actions ties Sold Employee Benefits Money Market Fund 491 $25,654,967 381 $24,294,545 Employee Benefit Equity Index Fund 46 2,288,230 34 1,004,413 $391,840 Guaranteed Interest Fund 48 2,222,346 42 953,116 160,467 Value Equity Fund 49 1,797,816 36 1,203,785 577,424 S&P 500 Mutual Fund 3 1,596,385 4 1,586,656 (12,231)
SCHEDULE III CTB, INC. PROFIT SHARING PLAN ITEM 27A - FORM 5500 - SCHEDULE OF INVESTMENT ASSETS BOTH ACQUIRED AND DISPOSED OF WITHIN THE PLAN YEAR YEAR ENDED DECEMBER 31, 1998
Purchase Sale Shares/ Gain Date Date Description Unit Cost Proceeds (Loss) 8/13/1998 S&P 500 Mutual Fund 5,000 $544,413 8/13/1998 S&P 500 Mutual Fund 3,000 326,825 8/13/1998 S&P 500 Mutual Fund 5,000 $544,891 $(1,453) 8/17/1998 S&P 500 Mutual Fund 3,000 327,040 (1,446) 9/02/1998 S&P 500 Mutual Fund 7,000 726,373 9/8/1998 S&P 500 Mutual Fund 3,000 311,553 (8,177) 9/18/1998 S&P 500 Mutual Fund 4,000 415,404 (1,153)
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. CTB, INC. PROFIT SHARING PLAN By: CTB, Inc. Profit Sharing Committee Date: January 28, 2000 /S/ DON J. STEINHILBER Don J. Steinhilber, Member /S/ MICHAEL J. KISSANE Michael J. Kissane, Member /S/ MARK W. NEAL Mark W. Neal, Member /S/ RICHARD A. VAN PUFFELEN Richard A. Van Puffelen, Member EX-23 2 EXHIBIT 23 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in the Registration Statement of CTB International Corp. on Form S-8 of our report dated January 25, 2000, appearing in this Annual Report on Form 11-K of CTB, Inc. Profit Sharing Plan for the year ended December 31, 1998. /s/ Deloitte & Touche LLP DELOITTE & TOUCHE LLP Chicago, Illinois January 28, 2000 -----END PRIVACY-ENHANCED MESSAGE-----