Exhibit 99.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934.
For the fiscal year ended: December 31, 1997
[_] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934.
For the transition period from to
------------ ------------
Commission file number: 1-4850
A. Full title of plan and the address of the plan, if different from
that of the issuer named below: Computer Sciences Corporation Matched Asset
Plan
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office: Computer Sciences Corporation
2100 East Grand Avenue
El Segundo, California 90245
1
TABLE OF CONTENTS
-----------------
Description Page
- ----------- ----
(a) Financial Statements:
Independent Auditors' Report................................................... 3
Statements of Net Assets Available for Benefits
As of December 31, 1997 and 1996............................................... 4
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 1997 and 1996................................. 5
Notes to Financial Statements.................................................. 6
(b) Exhibit:
Independent Auditors' Consent.................................................. E-1
(c) Supplemental Schedules:
Schedule of Assets Held for Investment Purposes................................ S-1
Schedule of Reportable Transactions............................................ S-2
2
INDEPENDENT AUDITORS' REPORT
Employee Retirement Plan Committee
Computer Sciences Corporation
El Segundo, California
We have audited the accompanying statements of net assets available for benefits
of the Computer Sciences Corporation Matched Asset Plan (the "Plan") as of
December 31, 1997 and 1996, and the related statements of changes in net assets
available for benefits for the years then ended. 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 audits 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 referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1997 and 1996, and the changes in net assets available for benefits
for the years then ended 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 supplemental schedules listed in
Section C of 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 supplemental schedules are the responsibility of
the Plan's management. Such schedules have been subjected to the auditing
procedures applied in our audits of the basic financial statements and, in our
opinion, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/Deloitte & Touche LLP
June 5, 1998
3
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
STATEMENTS OF NET ASSETS
AVAILABLE FOR BENEFITS
DECEMBER 31
------------------------------
1997 1996
------------ -------------
ASSETS
Investments (Notes 2, 5, 9 and 10):
Short-term investments $ 14,812,841 $ 4,881,963
Long-term investments--at fair value:
Brinson U.S. Bond Fund 84,332,245 69,326,850
Brinson U.S. Stock Fund 40,159,408 37,602,556
Brinson U.S. Equity Fund 249,786,910 190,510,057
Mellon Stock Index Funds 110,042,765 58,160,214
CSC Company stock 238,770,004 220,003,596
Employee loans (Note 6) 20,422,664 16,021,749
Plan interest in Master Trust 142,956,868 91,252,142
Guaranteed investment contracts--at contract value 15,231,349 61,203,657
------------ ------------
Total investments 916,515,054 748,962,784
------------ ------------
Receivables:
Employer contribution 452,287 323,412
Participants' contribution 3,900,688 3,111,463
Accrued income 15,259 42,949
Total Receivables 4,368,234 6,780,923
------------ ------------
Total Assets 920,883,288 755,743,707
------------ ------------
LIABILITIES
Accounts Payable 1,482,254 1,054,114
Accrued Expenses 325,925 218,770
------------ ------------
Total Liabilities 1,808,179 1,272,884
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $919,075,109 $754,470,823
============ ============
See Notes to Financial Statements
4
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS ENDED DECEMBER 31
-------------------------------
1997 1996
------------ ------------
ADDITIONS
Investment Income:
Net appreciation in fair value of investments (Note 9) $ 65,905,291 $ 76,497,351
Interest 3,031,996 5,423,422
Dividends 15,217,887 9,668,924
Plan interest in Master Trust investment income 7,283,958 3,071,796
------------ ------------
91,439,132 94,661,493
Less Investment Management Fees (972,982) (833,263)
------------ ------------
90,466,150 93,828,230
Contributions:
Employee 88,006,055 66,417,162
Employer 14,800,519 11,665,836
Employee Rollovers 18,922,266 15,151,958
Transfers From Other Plans (Note 8) 23,324,149 17,337,285
------------ ------------
145,052,989 110,572,241
------------ ------------
Total Additions 235,519,139 204,400,471
------------ ------------
DEDUCTIONS
Distributions to Participants (Notes 1 and 7) 70,914,853 45,929,239
------------ ------------
Total Deductions 70,914,853 45,929,239
------------ ------------
Net Increase 164,604,286 158,471,232
Net Assets Available for Benefits at Beginning of Year 754,470,823 595,999,591
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS AT END OF YEAR $919,075,109 $754,470,823
============ ============
See Notes to Financial Statements
5
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Note 1 Description of the Plan
-----------------------
The following brief description of the Computer Sciences Corporation Matched
Asset Plan (the "Plan") is provided for general information purposes only.
Participants should refer to the Plan documents for more complete information.
The Plan was adopted by the action of the Board of Directors of Computer
Sciences Corporation (the "Company") taken on November 3, 1986, and constitutes
an amendment and restatement of the Employee Stock Purchase Plan ("the Prior
Plan").
The Plan is a continuation of the Prior Plan and is qualified under the Internal
Revenue Code (the "Code"), as amended, Section 401(a) and, effective as of
January 1, 1987, with respect to the portion thereof that qualifies as a
qualified cash or deferred arrangement, to satisfy the requirement of Code
Section 401(k). It is also subject to the provisions of the Employee Retirement
Income Security Act of 1974 ("ERISA").
The Company reserves the right to discontinue its contributions and terminate
the Plan subject to the provisions of ERISA. Upon such termination, the
participants' rights to the Company's contributions vest immediately and the
account balances are fully paid to the participants.
Eligibility and Participation
- -----------------------------
Any eligible employee who has satisfied the Plan's age and service requirements,
and is employed by the Company, and who receives a stated compensation in
respect of employment on the payroll of the Company, is eligible to become a
participant, with the exception of a person who is represented by a collective
bargaining unit and whose benefits have been the subject of good faith
bargaining under a contract that does not specify that such person is eligible
to participate in the Plan. In addition, the Company may determine to exempt
all employees of any division, unit, facility or class from coverage under the
Plan. Any person who leaves the employ of the Company and, at a later time
becomes re-employed, must reapply to participate in the Plan, provided he or she
otherwise meets the eligibility requirements.
There were approximately 18,755 participating employees at December 31, 1997.
6
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Employee and Company Contributions
- ----------------------------------
Subject to certain limitations described below, an eligible employee who elects
to become a participant may authorize any whole percentage (at least 1% but not
more than 15%) of such employee's monthly compensation (as defined in the Plan)
to be deferred and contributed to the trust fund on his or her behalf, up to a
maximum amount of $9,500 for calendar year 1997. Any compensation deferral in
excess of $9,500, together with income allocable to that excess, will be
returned to a participant. Any matching Company contributions attributable to
any excess contribution, and income allocable thereto, will either be returned
to the Company or applied to reduce future matching Company contributions.
In order to qualify for the special tax treatment accorded to plans by Section
401(k) of the Code, contributions on behalf of participants under the Plan must
meet two nondiscrimination tests designed to prevent a disproportionate
compensation deferral election by employees who are highly compensated in
relation to other employees. The Committee may cause the percentage authorized
by the highly compensated participants to be reduced if the Plan does not meet
both of the nondiscrimination tests.
A participant is not permitted to make voluntary after-tax contributions to the
Plan.
The Company will contribute and forward to the trust fund, together with a
compensation deferral contribution equal to each participant's qualifying
compensation deferral, an amount equal to 50% of the first 3% of the
participant's compensation deferral (except for two groups of employees: the
first group is a small number of employees to whom under the terms of their
contract agreement the Company will contribute an amount equal to 50% of the
first 4% of the participant's compensation deferral; and the second group to
whom under the terms of their contract agreement the Company will contribute an
amount equal to 100% of the first 7% of the participant's compensation
deferral). Matching contributions will be invested in the Company Stock Fund,
which invests in the common stock of Computer Sciences Corporation.
Participant Accounts
- --------------------
Each participant's account is credited with the participant's contribution and
the Company's matching contribution and allocations of Plan earnings, and is
charged with an allocation of investment management fees. Allocations are based
on participant earnings or account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be provided from the
participant's vested account.
7
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Vesting of Participants' Interests/Forfeitures
- ----------------------------------------------
A participant's interest in his or her Compensation Deferral Account, Retirement
Account, After Tax Account, and Rollover Account is at all times fully vested in
the participant or, when appropriate, in the participant's beneficiary or legal
representative.
Each participant has a vested interest in the value of his or her Matching
Contribution Account equal to twenty-five percent (25%) after completing two
full years of service and increasing by twenty-five percent (25%) for each
additional full year of service (except for a small number of participants who,
under the terms of their contract agreement, will vest 100% after 2 years).
Vesting accelerates to 100% in the event of reaching age 65 while employed by
the Company or upon severance by reason of death or total and permanent
disability.
Any nonvested portion of the Matching Contributions Account will be forfeited
upon withdrawal from the Plan. Forfeitures may be applied to reduce future
matching contributions by the Company. Such forfeitures during 1997 and 1996
amounted to $1,410,024 and $1,097,819, respectively.
Distributable Amounts, Withdrawals and Refunds
- ----------------------------------------------
A participant may become entitled to a distribution of his or her distributable
benefit by reason of retirement, death, total and permanent disability,
voluntary termination of employment, or dismissal. The rules of payment of a
participant's distributable benefit depend upon age of the participant, the
number of years of service completed by the participant and the type of
severance. The total amounts distributed during 1997 and 1996 were $70,097,198
and $44,996,599, respectively.
While still an employee, a participant may, upon at least a 30 day written
notice to the Committee, make a withdrawal of his or her compensation deferral
contributions if the Committee finds, after considering the participant's
request, that an adequate financial hardship and resulting need for such amount
has been demonstrated by the participant. These withdrawals during 1997 and 1996
totaled $817,655 and $932,640, respectively.
In order for the Plan to meet the nondiscrimination tests, the Committee has
caused the compensation deferral percentage for certain highly compensated
employees to be reduced, which has also resulted in the return of excess
compensation deferrals.
8
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Note 2 Summary of Significant Accounting Policies
------------------------------------------
The accounting and reporting policies followed in preparation of the financial
statements of the Plan of the Company conform with generally accepted accounting
principles. The following is a summary of the significant policies.
Use of Estimates
- ----------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reported period.
Actual results could differ from those estimates.
Assets of the Plan
- ------------------
The assets of the Plan are held in a trust with five sub-accounts representing
the investment options. The investment income in the respective sub-accounts is
allocated to the participants. Contributions to, and payments from, the Plan
are specifically identified to the applicable sub-accounts within the trust.
Security Transactions
- ---------------------
Security transactions are accounted for on a trade-date basis. Dividend income
is recorded on the ex-dividend date. Interest income is accounted for on the
accrual basis.
In general, participants in the Company Stock Fund receive distributions in
certificates for shares of the common stock of the Company.
Valuation of Investment Securities
- ----------------------------------
Investments in common stocks and institutional investment vehicles are stated at
fair value based upon closing sales prices reported on recognized securities
exchanges on the last business day of the plan year or, for the listed
securities having no sales reported and for unlisted securities, upon last
reported bid prices on that date. Investments in short-term investments are
stated at cost which approximates fair value.
9
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Valuation of Guaranteed Investment Contracts
- --------------------------------------------
The Plan holds guaranteed investment contracts, which are considered to be fully
benefit responsive as access to the funds of these contracts is not restricted.
The guaranteed investment contracts are valued at contract value in accordance
with SOP 94-4. Contract value represents contributions made by participants,
plus interest at the contract rates, less withdrawals or transfers by
participants.
Based on the treasury yield curve for similar type of investments, the fair
value of the guaranteed investment contracts at December 31, 1997 and 1996 was
approximately $15,294,818 and $61,675,000, respectively. The average yield and
crediting interest rates were approximately 6.79% and 7.18% for 1997 and 1996,
respectively. The crediting interest rate is based on an agreed-upon formula
with the issuer, but cannot be less than zero.
Payment of Benefits
- -------------------
Benefits are recorded when paid.
Note 3 Income Tax Status
-----------------
The Internal Revenue Service has determined and informed the Company by a letter
dated July 18, 1996, that the Plan and related trust are designed in accordance
with applicable sections of the Internal Revenue Code (IRC).
The Committee believes that the Plan is designed and operated to qualify under
Section 401(a) of the Code and, with respect to its qualified cash or deferred
arrangement, under Section 401(k) of the Code. When the requirements of Section
401(k) of the Code are satisfied, the following tax consequences result:
(i) A participant is not subject to federal income tax on Company
contributions to the Plan or on income or realized gains in Plan Accounts
attributable to the participant until a distribution from the Plan is made to
him or her.
(ii) The participant is able to exclude from his or her income for federal
income tax purposes, the amount of his or her compensation deferral
contributions, subject to a maximum exclusion of $9,500 for both the 1997 and
1996 taxable years of the participant.
(iii) On distribution of a participant's vested interest in the Plan, the
participant generally is subject to federal income taxation, except that: (1)
tax on "net unrealized appreciation" on any
10
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Company stock distributed as a part of a "lump sum distribution" generally is
deferred until the participant disposes of such stock, and (2) tax may be
deferred to the extent the participant is eligible for and complies with certain
rules permitting the "rollover" of a qualifying distribution to another
retirement plan, or individual retirement account.
Note 4 Reconciliation of Financial Statements to Form 5500
---------------------------------------------------
DECEMBER 31,
----------------------------------
1997 1996
-------------- --------------
Net assets available for benefits per the financial
statements $919,075,109 $754,470,823
Amounts allocated to withdrawing participants (11,552,858) (10,290,463)
-------------- --------------
Net assets available for benefits per Form 5500 $907,522,251 $744,180,360
============== ==============
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500:
YEAR ENDED
DECEMBER 31, 1997
-----------------
Benefits paid to participants per the financial statements $ 70,914,853
Add: Amounts allocated to withdrawing participants at
December 31, 1997 11,552,858
Less: Amounts allocated to withdrawing participants at
December 31, 1996 (10,290,463)
-------------
Benefits paid to participants per the Form 5500 $ 72,177,248
=============
Amounts allocated to withdrawing participants are recorded on the Form 5500 for
benefit claims that have been processed and approved for payment prior to
December 31, 1997 but not paid as of that date.
11
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Note 5 Investment Funds
----------------
Participant contributions - Subject to rules the Committee may from time to time
adopt, each participant has the right to designate one or more of the following
investment funds established by the Committee for the investment of his or her
compensation deferral contributions, in increments of 10%. After an initial
election has been made, a participant may designate a different Fund into which
future compensation deferral contributions shall be invested as of the first day
of any payroll period that coincides with or immediately follows the first day
of any month once within a calendar quarter. In addition, a participant may
elect to redesignate any amounts in his or her accounts as of the last business
day of any month once within a calendar quarter to be invested in a different
Fund. These elections may be made by giving such advance notice as may be
required by the Plan administrator.
Following are the investment funds available for participant contributions:
The Fixed Income Fund
- ---------------------
Approximately 13% of the Fixed Income Fund is invested in contracts with
insurance companies or other financial institutions. These institutions agree to
repay principal with interest at a fixed rate of return for the life of each
contract. This is a commitment by the insurance company or financial institution
to make agreed upon payments and that agreement is not secured, insured or
guaranteed by the Company or any other third party.
Approximately 87% of the Fixed Income Fund represents holdings of units in a
Master Trust investment vehicle and is managed by BlackRock Financial
Management. The investment portfolio is actively managed and consists of short-
term (1-3 year) fixed income instruments which include: U.S. Treasury and agency
securities, corporate bonds, mortgage-backed securities and asset-backed fixed
income securities. All of the Fund's assets are rated single-A or better at the
time of purchase and all securities must be U.S. dollar denominated. All new
cash flows into the Fund are invested in this actively managed bond fund. At
December 31, 1997 and 1996, the Plan's interest in the net assets of the Master
Trust was approximately 89% and 90%, respectively. Investment income and
administrative expenses relating to the Master Trust are allocated to individual
plans based upon average monthly balances invested by each plan.
12
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
The following table represents the fair value of investments for the Master
Trust.
DECEMBER 31,
---------------------------------
1997 1996
-------------- --------------
Investments at fair value:
Corporate bonds $105,242,979 $ 20,904,676
U.S. government securities 46,459,080 56,633,626
Other bonds 6,446,213 2,112,040
Short-term investments 1,371,261 21,131,915
Accrued income 1,198,486 1,061,097
-------------- --------------
$160,718,019 $101,843,354
============== ==============
Investment income for the Master Trust is as follows:
DECEMBER 31,
-------------------------------
1997 1996
------------ -------------
Investment income:
Net appreciation (depreciation) in fair value of
investments $ 450,257 $(1,007,670)
Interest:
Corporate bonds 4,037,722 1,180,044
U.S. government securities 3,243,205 2,485,788
Other bonds 366,303 139,500
Short-term investments 485,226 627,305
------------ -------------
8,582,713 3,424,967
Less investment management fees (208,306) (61,373)
------------ -------------
$8,374,407 $ 3,363,594
============ =============
The Balanced Fund
- -----------------
The Balanced Fund is managed by Brinson Partners, Inc. The Balanced Fund is
invested in an actively managed combination of a U.S. equity portfolio, a bond
portfolio and cash equivalents. The U.S. equity portfolio consists of large,
intermediate and small company stocks. The bond portfolio consists primarily of
U.S. Treasury, government agency and corporate issues. This Fund's objective is
to maximize risk-adjusted total returns relative to the U.S. Balanced Index over
a full economic cycle.
13
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
The Active Equity Fund
- ----------------------
The Active Equity Fund is managed by Brinson Partners, Inc. The Fund is broadly
diversified by issue and industry relative to the Wilshire 5000 index. The Fund
is typically invested in 70% large capitalization and 30% intermediate and small
capitalization stocks. The Fund may hold up to 50% in cash equivalents for
portfolio risk management purposes. The Fund's objective is to maximize risk-
adjusted total returns relative to the Wilshire 5000 index over a full economic
cycle.
The Stock Index Fund
- --------------------
The fund is managed by Mellon Capital Management. The objective of the fund is
to modestly exceed the performance of the Standard & Poor's 500 Stock Index.
The Stock Index Fund either invests in a stock portfolio designed to track the
performance of the S&P Stock Index and/or creates a synthetic S&P 500 portfolio
using (unleveraged) financial futures and options. Assets used as collateral
for futures/options positions are comprised of various market or debt
instruments.
The Company Stock Fund
- ----------------------
Amounts allocated to this investment alternative will be used to purchase shares
of Computer Sciences Corporation common stock which will be held for the benefit
of the participant. The performance of this fund will depend upon the
performance of Computer Sciences Corporation stock. The Bank of New York (the
"Trustee") may purchase Company stock on national securities exchanges or
elsewhere.
Company contributions - In accordance with the provisions of the Plan, the
Trustee must promptly invest matching Company contributions paid into the trust
fund in the Company Stock Fund. An exception is in the case of a participant
who has (i) attained at least age 59 1/2, or (ii) has been credited with at
least five years of service and has attained at least age 55 and has made an
election to designate different Funds.
14
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Number of Participants
- ----------------------
The approximate number of participants having account balances in each of the
six separate funds at December 31, 1997 was as follows:
Investment Fund Number of Participants
- --------------- ------------------------
The Fixed Income Fund............................................ 11,666
The Balanced Fund................................................ 12,081
The Active Equity Fund........................................... 16,699
The Stock Index Fund............................................. 12,347
The Company Stock Fund........................................... 22,459
The Loan Fund.................................................... 2,814
The sum of the number of participants shown above is greater than the total
number of participants in the Plan because many are participating in more than
one fund.
Note 6 Participant Loans
-----------------
The Plan allows participants to borrow from their vested account balances from a
minimum of $1,000 up to a maximum of $50,000 or 50% of their vested account
balances, subject to certain limitations. The loans bear interest at the prime
rate quoted in the Wall Street Journal plus 1%, which is set on a quarterly
basis. Loan terms range from 1-5 years or up to 15 years for purchase
of a primary residence. Loans are recorded at cost, which approximate fair
value, on the Statement of Net Assets Available for Benefits.
The loans (which are accounted for in the Loan Fund) are deducted from the
participants' accounts according to a priority specified in the Plan's loan
rules and, within each account, pro rata from the funds based on their balances
at the time. Loan repayments are reinvested in the participants' funds according
to their current investment election. The repayments are similarly allocated
among participants' accounts according to the priority specified in the Plan's
rules.
15
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 1997
Note 7 Benefits Payable
----------------
As of December 31, 1997 and 1996, net assets available for benefits included
benefits of $11,552,858 and $10,290,463 respectively, due to participants who
have withdrawn from participation in the Plan.
Note 8 Transfers from Other Plans
--------------------------
During the two years ended December 31, 1997, the Plan had several transfers
from other plans. The asset values of these transfers were as follows:
$2,394,153 and $412,395 in 1997 and 1996 respectively from Bath Iron Works
Corporation Tax Deferred Savings Plan; $1,371,171 in 1997 from Planmetrics,
Inc. Savings and Profit Sharing Plan; $15,612,394 in 1997 from Dupont Conoco;
$355,773 in 1997 from SunBeam-Oster Company, Inc. 401(K) Savings and Profit
Sharing Plan; $8,168,573 in 1997 from CNA Employees' Saving Plan; $128,350 and
$16,914,202 in 1997 and 1996 respectively from Credit Services; $412,395 in
1996 from Hyatt Corporation 401(k) Plan; $9,777 in 1996 from James River
Corporation of Virginia Stockplus Investment Plan; and $912 in 1996 from
DiBianca-Berkman Group, Inc. Profit Sharing Plan.
The Plan also had several transfers to other plans in 1997 as a result of spin-
offs. The asset values of these transfers were as follows: $609,053 to S.T
Research; $3,270,348 to Mutual of New York; $740,644 to Artemis Holding; and
$86,221 to CTI.
16
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 9 Statements of Net Assets Available for Benefits by Fund
-------------------------------------------------------
DECEMBER 31, 1997
-------------------------------------------------------
FIXED ACTIVE
INCOME BALANCED EQUITY
--------------- ------------ ------------
ASSETS
Investments
Short-term investments $6,176,886 $ 7,192,178 $ 885,362
Long-term investments
At fair value
Interest in registered investment companies 124,491,653 249,786,910
CSC Company stock
Employee loans
Plan interest in Master Trust 142,956,868
Guaranteed investment contracts--at contract
value 15,231,349
Receivables
Employer contribution 3,649 2,568 6,006
Participants' contribution 619,957 500,627 1,155,151
Accrued Income 3,207 2,140 5,575
Plan to plan transfers
Interfund Transfers 480,752 (43,101) (240,573)
------------- ------------ -------------
TOTAL ASSETS 165,472,668 132,146,065 251,598,431
LIABILITIES
Accounts Payable 324,067 74,935 155,307
Accrued Expenses 70,786 80,935 154,190
------------- ------------ --------------
TOTAL LIABILITIES 394,853 155,870 309,497
------------- ------------ --------------
NET ASSETS AVAILABLE FOR BENEFITS $165,077,815 $131,990,195 $251,288,934
============= ============ ==============
DECEMBER 31, 1997
---------------------------------------------------------
STOCK COMPANY EMPLOYEE
INDEX STOCK LOANS
------------- ------------- ----------
ASSETS
Investments
Short-term investments $ 460,515 $ 97,900
Long-term investments
At fair value
Interest in registered investment companies 110,042,765
CSC Company stock 238,770,004
Employee loans $20,422,664
Plan interest in Master Trust
Guaranteed investment contracts--at contract
value
Receivables
Employer contribution 3,887 436,177
Participants' contribution 779,456 845,624 (127)
Accrued Income 2,125 2,212
Plan to plan transfers
Interfund Transfers 2,237,379 (2,434,457)
------------ ------------ -----------
TOTAL ASSETS 113,526,127 237,717,460 20,422,537
LIABILITIES
Accounts Payable 136,793 809,105 (17,953)
Accrued Expenses 19,265 749
------------ ------------ -----------
TOTAL LIABILITIES 156,058 809,854 (17,953)
------------ ------------ -----------
NET ASSETS AVAILABLE FOR BENEFITS $113,370,069 $236,907,606 $20,440,490
============ ============ ===========
-------------
TOTAL
-------------
ASSETS
Investments
Short-term investments $ 14,812,841
Long-term investments
At fair value
Interest in registered investment companies 484,321,328
CSC Company stock 238,770,004
Employee loans 20,422,664
Plan interest in Master Trust 142,956,868
Guaranteed investment contracts--at contract
value 15,231,349
Receivables
Employer contribution 452,287
Participants' contribution 3,900,688
Accrued Income 15,259
Plan to plan transfers
Interfund Transfers -
------------
TOTAL ASSETS 920,883,288
LIABILITIES
Accounts Payable 1,482,254
Accrued Expenses 325,925
------------
TOTAL LIABILITIES 1,808,179
------------
NET ASSETS AVAILABLE FOR BENEFITS $919,075,109
============
17
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 9 Statements of Net Assets Available for Benefits by Fund
-------------------------------------------------------
DECEMBER 31, 1996
--------------------------------------------------------------------
FIXED ACTIVE STOCK
INCOME BALANCED EQUITY INDEX
------------- ------------ ------------ -----------
ASSETS
Investments
Short-term investments $ 4,259 $ 1,002,060 $ 1,725,971 $ 529,309
Long-term investments
At fair value
Interest in registered investment companies 106,929,406 190,510,057 58,160,214
CSC Company stock
Employee loans
Plan interest in Master Trust 91,252,142
Guaranteed investment contracts--at contract
value 61,203,657
Receivables
Employer contribution 948 349 549 199
Participants' contribution 578,061 523,666 992,373 469,869
Accrued Income 21,270 4,186 10,370 2,267
Plan to plan transfers 638,176 1,409,723 624,325 200,660
Interfund Transfers 6,895 (76,674) 676,188 440,241
------------- ------------ ------------ -----------
TOTAL ASSETS 153,705,408 109,792,716 194,539,833 59,802,759
LIABILITIES
Accounts Payable 106,233 93,222 204,416 130,133
Accrued Expenses 33,945 66,931 111,438 5,872
------------- ------------ ------------ -----------
TOTAL LIABILITIES 140,178 160,153 315,854 136,005
------------- ------------ ------------ -----------
NET ASSETS AVAILABLE FOR BENEFITS $153,565,230 $109,632,563 $194,223,979 $59,666,754
============= ============ ============ ===========
DECEMBER 31, 1996
----------------------------------------------------
COMPANY EMPLOYEE
STOCK LOANS TOTAL
------------ ----------- ------------
ASSETS
Investments
Short-term investments $ 1,620,364 $ 4,881,963
Long-term investments
At fair value
Interest in registered investment companies $355,599,677
CSC Company stock 220,003,596 220,003,596
Employee loans $16,021,749 16,021,749
Plan interest in Master Trust 91,252,142
Guaranteed investment contracts--at contract
value 61,203,657
Receivables
Employer contribution 321,367 323,412
Participants' contribution 547,284 210 3,111,463
Accrued Income 4,856 42,949
Plan to plan transfers 430,215 3,303,099
Interfund Transfers (1,046,650) -
------------ ----------- ------------
TOTAL ASSETS 221,881,032 16,021,959 755,743,707
LIABILITIES
Accounts Payable 818,459 (298,349) 1,054,114
Accrued Expenses 584 218,770
------------ ----------- ------------
TOTAL LIABILITIES 819,043 (298,349) 1,272,884
------------ ----------- ------------
NET ASSETS AVAILABLE FOR BENEFITS $221,061,989 $16,320,308 $754,470,823
============ =========== ============
18
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 9 Statements of Changes in Net Assets Available for Benefits by Fund
------------------------------------------------------------------
YEAR ENDED DECEMBER 31, 1997
---------------------------------------------------------
FIXED ACTIVE
INCOME BALANCED EQUITY
---------------- --------------- ----------------
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment Income:
Net Appreciation in Fair Value of Investments $ 206,077 $10,812,740 $31,087,793
Interest 2,838,297 34,120 75,383
Dividend 6,101,150 4,585,948
Plan interest in Master Trust investment income 7,283,958
Investment Management Fees (70,280) (303,570) (551,674)
------------ ------------ ------------
10,258,052 16,644,440 35,197,450
------------ ------------ ------------
Contributions:
Employee 15,787,189 13,765,687 29,150,336
Employer 104,254 72,544 183,292
Employee Rollovers 3,337,470 2,596,418 6,213,624
Transfers From Other Plans 13,215,479 1,247,156 3,005,062
Interfund Transfers (11,683,241) (1,195,825) 3,818,292
------------ ------------ ------------
20,761,151 16,485,980 42,370,606
------------ ------------ ------------
TOTAL ADDITIONS 31,019,203 33,130,420 77,568,056
------------ ------------ ------------
DEDUCTIONS TO NET ASSETS ATTRIBUTABLE TO:
Distributions to Participants 19,506,618 10,772,788 20,503,101
------------ ------------ ------------
TOTAL DEDUCTIONS 19,506,618 10,772,788 20,503,101
------------ ------------ ------------
NET INCREASE 11,512,585 22,357,632 57,064,955
------------ ------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 153,565,230 109,632,563 194,223,979
------------ ------------ ------------
End of Year $165,077,815 $131,990,195 $251,288,934
============ ============ ============
YEAR ENDED DECEMBER 31, 1997
--------------------------------------------------
STOCK COMPANY EMPLOYEE
INDEX STOCK LOANS
------------ ------------ -------------
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment Income:
Net Appreciation in Fair Value of Investments $18,326,612 $5,472,069
Interest 41,929 42,267
Dividend 4,530,789
Plan interest in Master Trust investment income
Investment Management Fees (43,349) (4,109)
------------- ------------ ------------
22,855,981 5,510,227
------------- ------------ ------------
Contributions:
Employee 15,921,012 20,266,502 $(6,884,671)
Employer 96,929 14,343,500
Employee Rollovers 3,969,856 2,804,898
Transfers From Other Plans 3,283,548 (165,934) 2,738,838
Interfund Transfers 15,708,532 (6,647,758)
------------- ------------ ------------
38,979,877 30,601,208 (4,145,833)
------------- ------------ ------------
TOTAL ADDITIONS 61,835,858 36,111,435 (4,145,833)
------------- ------------ ------------
DEDUCTIONS TO NET ASSETS ATTRIBUTABLE TO:
Distributions to Participants 8,132,543 20,265,818 (8,266,015)
------------- ------------ ------------
TOTAL DEDUCTIONS 8,132,543 20,265,818 (8,266,015)
------------- ------------ ------------
NET INCREASE 53,703,315 15,845,617 4,120,182
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 59,666,754 221,061,989 16,320,308
------------- ------------ ------------
End of Year $113,370,069 $236,907,606 $20,440,490
============= ============ ============
YEAR ENDED DECEMBER 31, 1997
------------------------------
TOTAL
-------------
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment Income:
Net Appreciation in Fair Value of Investments $65,905,291
Interest 3,031,996
Dividend 15,217,887
Plan interest in Master Trust investment income 7,283,958
Investment Management Fees (972,982)
-------------
90,466,150
-------------
Contributions:
Employee 88,006,055
Employer 14,800,519
Employee Rollovers 18,922,266
Transfers From Other Plans 23,324,149
Interfund Transfers -
-------------
145,052,989
-------------
TOTAL ADDITIONS 235,519,139
-------------
DEDUCTIONS TO NET ASSETS ATTRIBUTABLE TO:
Distributions to Participants 70,914,853
-------------
TOTAL DEDUCTIONS 70,914,853
-------------
NET INCREASE 164,604,286
-------------
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 754,470,823
-------------
End of Year $919,075,109
=============
19
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 9 Statements of Changes in Net Assets Available for Benefits by Fund
------------------------------------------------------------------
YEAR ENDED DECEMBER 31, 1996
---------------------------------------------------------------------
FIXED ACTIVE STOCK
INCOME BALANCED EQUITY INDEX
------------ ------------ ------------ -----------
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment Income
Net Appreciation in Fair Value of Investments $7,547,384 $28,745,707 $7,279,167
Interest $5,090,729 205,856 49,938 29,240
Dividend 4,153,832 3,269,456 2,245,636
Plan interest in Master Trust investment income 3,071,796
Investment Management Fees (135,732) (260,280) (412,398) (22,207)
------------ ------------ ------------ -----------
8,026,793 11,646,792 31,652,703 9,531,836
------------ ------------ ------------ -----------
Contributions
Employee 13,970,518 12,556,922 21,248,658 8,868,348
Employer 26,881 9,261 18,460 5,176
Employee Rollovers 3,009,593 2,248,932 4,313,516 2,440,965
Transfers From Other Plans 8,210,754 1,430,613 3,672,511 1,318,907
Interfund Transfers (7,758,207) (2,208,569) 6,569,672 6,429,915
------------ ------------ ------------ -----------
17,459,539 14,037,159 35,822,817 19,063,311
------------ ------------ ------------ -----------
TOTAL ADDITIONS 25,486,332 25,683,951 67,475,520 28,595,147
------------ ------------ ------------ -----------
DEDUCTIONS TO NET ASSETS ATTRIBUTABLE TO:
Distributions to Participants 13,759,430 7,233,025 11,577,380 3,774,478
------------ ------------ ------------ -----------
TOTAL DEDUCTIONS 13,759,430 7,233,025 11,577,380 3,774,478
------------ ------------ ------------ -----------
NET INCREASE 11,726,902 18,450,926 55,898,140 24,820,669
------------ ------------ ------------ -----------
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 141,838,328 91,181,637 138,325,839 34,846,085
------------ ------------ ------------ -----------
End of Year $153,565,230 $109,632,563 $194,223,979 $59,666,754
============ ============ ============ ===========
YEAR ENDED DECEMBER 31, 1996
---------------------------------------------------------
COMPANY EMPLOYEE
STOCK LOANS TOTAL
------------ ----------- ------------
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment Income
Net Appreciation in Fair Value of Investments $32,925,093 $76,497,351
Interest 47,205 $ 454 5,423,422
Dividend 9,668,924
Plan interest in Master Trust investment income 3,071,796
Investment Management Fees (2,646) (833,263)
------------ ----------- ------------
32,969,652 454 93,828,230
------------ ----------- ------------
Contributions
Employee 15,207,730 (5,435,014) 66,417,162
Employer 11,606,058 11,665,836
Employee Rollovers 3,138,952 15,151,958
Transfers From Other Plans 2,686,469 18,031 17,337,285
Interfund Transfers (3,032,357) (454) -
------------ ----------- ------------
29,606,852 (5,417,437) 110,572,241
------------ ----------- ------------
TOTAL ADDITIONS 62,576,504 (5,416,983) 204,400,471
------------ ----------- ------------
DEDUCTIONS TO NET ASSETS ATTRIBUTABLE TO:
Distributions to Participants 17,325,144 (7,740,218) 45,929,239
------------ ----------- ------------
TOTAL DEDUCTIONS 17,325,144 (7,740,218) 45,929,239
------------ ----------- ------------
NET INCREASE 45,251,360 2,323,235 158,471,232
------------ ----------- ------------
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of Year 175,810,629 13,997,073 595,999,591
------------ ----------- ------------
End of Year $221,061,989 $16,320,308 $754,470,823
============ =========== ============
20
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 10 Investments 1997 PRINCIPAL FAIR VALUE OR
---------------- AMOUNT OR SHARES COST CONTRACT VALUE
-------------------- ------------------ ------------------
FIXED INCOME FUND
Guaranteed Investment Contracts $ 15,231,349 $ 15,231,349 $ 15,231,349
Interest in Master Trust* sh. 234,665,405 142,864,685 142,956,868
BNY Collective Short-Term Invst. Fund sh. 6,176,886 6,176,886 6,176,886
BALANCED FUND
Brinson Partners Inc. U.S. Bond Fund* sh. 698,494 81,072,821 84,332,245
Brinson Partners Inc. U.S. Stock Only Fund* sh. 113,806 25,472,338 40,159,408
Brinson Partners Inc. U.S. Cash Mgmt. Fund sh. 6,569,237 6,569,237 6,569,237
BNY Collective Short-Term Invst. Fund sh. 622,941 622,941 622,941
ACTIVE EQUITY FUND
Brinson Partners Inc. U.S. Equity Portfolio* sh. 719,179 152,634,615 249,786,910
Brinson Partners Inc. U.S. Cash Mgmt. Fund sh. 2 2 2
BNY Collective Short-Term Invst. Fund sh. 885,360 885,360 885,360
STOCK INDEX FUND
Mellon Capital Mgmt. Stock Index Fund* sh. 350,600 76,226,631 107,371,946
Mellon Capital EB Daily Opening Stock
Index Fund sh. 11,230 2,628,795 2,670,819
Mellon Capital Temporary Investment Fund sh. 465 465 465
BNY Collective Short-Term Invst. Fund sh. 460,050 460,050 460,050
COMPANY STOCK FUND
Computer Sciences Common Stock* sh. 2,859,521 96,856,806 238,770,004
BNY Collective Short-Term Invst. Fund sh. 97,900 97,900 97,900
EMPLOYEE LOAN FUND
Participant Loans $ 20,422,664 20,422,664 20,422,664
------------------ ------------------
$ 628,223,545 $ 916,515,054
================== ==================
TOTAL LONG-TERM INVESTMENTS $ 613,410,704 $ 901,702,213
TOTAL SHORT-TERM INVESTMENTS 14,812,841 14,812,841
------------------ ------------------
$ 628,223,545 $ 916,515,054
================== ==================
* represents investments greater
than 5% of Plan's net assets
21
COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN
NOTES TO FINANCIAL STATEMENTS
FOR THE TWO YEARS ENDED DECEMBER 31, 1997
Note 10 Investments 1996 PRINCIPAL FAIR VALUE OR
---------------- AMOUNT OR SHARES COST CONTRACT VALUE
-------------------- ------------------ ------------------
FIXED INCOME FUND
Guaranteed Investment Contracts $ 61,203,657 $ 61,203,657 $ 61,203,657
Interest in Master Trust* sh. 90,242,972 91,366,037 91,252,142
BNY Collective Short-Term Invst. Fund sh. 4,259 4,259 4,259
BALANCED FUND
Brinson Partners Inc. U.S. Bond Fund* sh. 629,901 68,157,142 69,326,850
Brinson Partners Inc. U.S. Stock Only Fund* sh. 136,456 28,472,176 37,602,556
Brinson Partners Inc. U.S. Cash Mgmt. Fund sh. 1 1 1
BNY Collective Short-Term Invst. Fund sh. 1,002,060 1,002,060 1,002,060
ACTIVE EQUITY FUND
Brinson Partners Inc. U.S. Equity Portfolio* sh. 645,808 123,827,039 190,510,057
Brinson Partners Inc. U.S. Cash Mgmt. Fund sh. 2 2 2
BNY Collective Short-Term Invst. Fund sh. 1,725,969 1,725,968 1,725,968
STOCK INDEX FUND
Mellon Capital Mgmt. Stock Index Fund* sh. 244,687 43,023,873 56,186,765
Mellon Capital EB Daily Opening Stock
Index Fund sh. 10,853 1,997,925 1,973,449
Mellon Capital Temporary Investment Fund sh. 470 470 470
BNY Collective Short-Term Invst. Fund sh. 528,839 528,839 528,839
COMPANY STOCK FUND
Computer Sciences Common Stock* sh. 2,678,887 80,092,261 220,003,596
BNY Collective Short-Term Invst. Fund sh. 1,620,364 1,620,364 1,620,364
EMPLOYEE LOAN FUND
Participant Loans $ 16,021,749 16,021,749 16,021,749
------------------ ------------------
$519,043,822 $748,962,784
================== ==================
TOTAL LONG-TERM INVESTMENTS $514,161,859 $744,080,821
TOTAL SHORT-TERM INVESTMENTS 4,881,963 4,881,963
------------------ ------------------
$519,043,822 $748,962,784
================== ==================
* represents investments greater
than 5% of Plan's net assets
22
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Act of 1934, the
Computer Sciences Corporation Retirement Plans Committee has duly caused this
annual report to be signed on its behalf by the undersigned thereunto duly
authorized.
Computer Sciences Corporation
MATCHED ASSET PLAN
Date: June 25, 1998 By: /s/ LEON J. LEVEL
-------------------------
Leon J. Level
Chairman,
Computer Sciences Corporation
Retirement Plans Committee
23
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Computer Sciences Corporation
Registration Statement No. 333-00755 on Form S-8 of our report dated June 5,
1998, appearing in this Annual Report on Form 11-K of the Computer Sciences
Corporation Matched Asset Plan for the year ended December 31, 1997.
/s/ DELOITTE & TOUCHE LLP
Los Angeles, California
June 25, 1998
E-1
1997
FORM 5500 ITEM 27(a)
COMPUTER SCIENCES CORPORATION
EIN 95-2043126
MATCHED ASSET PLAN 001
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
-----------------------------------------------
(a) (b) Identity of issue, (c) Description of investment including
borrower, lessor or maturity date, rate of interest, (d) Cost (e) Current
similar party collateral, par or maturity value Value
- -- ---------------------------- -------------------------------------------------- ------------ -------------
Pacific Mutual Life Guaranteed Investment 6.85% 3/31/98 $ 4,766,758 $ 4,766,758
Insurance Co. Contract
Prudential Life Guaranteed Investment 5.77% 3/31/98 1,396,474 1,396,474
Insurance Co. Contract
Canada Life Insurance Co. Guaranteed Investment 5.75% 3/31/98 3,389,615 3,389,615
Contract
Hartford Life Insurance Co. Guaranteed Investment 7.80% 6/30/98 1,982,713 1,982,713
Contract
Hartford Life Insurance Co. Guaranteed Investment 7.80% 6/30/98 2,902,977 2,902,977
Contract
Prudential Life Guaranteed Investment 6.31% 9/30/98 792,812 792,812
Insurance Co. Contract
Brinson Trust Company, Inc. Mutual Fund - U.S. Bond 81,072,821 84,332,245
Fund
Brinson Trust Company, Inc. Mutual Fund - U.S. Stock 25,472,338 40,159,408
Fund
Brinson Trust Company, Inc. Mutual Fund - U.S. Equity 152,634,615 249,786,910
Portfolio
Mellon Capital Mutual Fund - Stock Index 2,628,795 2,670,819
Management Corp. Fund
Mellon Capital Mutual Fund - Stock Index 76,226,631 107,371,946
Management Corp. Fund
* Computer Sciences Common Stock 96,856,806 238,770,004
Corporation
* Computer Sciences Employee Loan Fund 20,422,664 20,422,664
Corporation (8.25%-10%) (1/27/12)
Brinson Trust Company, Inc. U.S. Cash Management Fund 6,569,239 6,569,239
Mellon Capital Mellon Temporary Investment 465 465
Management Corp. Fund
* Bank of New York BNY Collective Short-Term Invst. 8,243,137 8,243,137
Fund ------------- -------------
TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $ 485,358,860 $ 773,558,186
============= =============
* represents party in interest
S-1
1997
FORM 5500 ITEM 27(d)
COMPUTER SCIENCES CORPORATION
EIN 95-2043126
MATCHED ASSET PLAN 001
SCHEDULE OF REPORTABLE TRANSACTIONS
-----------------------------------
(h) CURRENT VALUE
OF ASSET ON
(a) IDENTITY OF (b) DESCRIPTION (c) PURCHASE (d) SELLING (g) COST OF TRANSACTION (i) NET GAIN
PARTY INVOLVED OF ASSET PRICE PRICE ASSET DATE OR (LOSS)
- ---------------------------------------------------------------------------------------------------------------------------------
SINGLE TRANSACTIONS IN EXCESS OF 5%
- ------------------------------------
None to Report
S-2
1997
FORM 5500 ITEM 27(d)
COMPUTER SCIENCES CORPORATION
EIN 95-2043126
MATCHED ASSET PLAN 001
SCHEDULE OF REPORTABLE TRANSACTIONS
-----------------------------------
(h) CURRENT VALUE
OF ASSET ON
(a) IDENTITY OF (b) DESCRIPTION (c) PURCHASE (d) SELLING (g) COST OF TRANSACTION (i) NET GAIN
PARTY INVOLVED OF ASSET PRICE PRICE ASSET DATE OR (LOSS)
- ---------------------------------------------------------------------------------------------------------------------------------
SERIES TRANSACTIONS IN THE AGGREGATE IN EXCESS OF 5%
- ----------------------------------------------------
Mellon Capital Mutual Fund
Management - EB Temporary
Investment Fund
- Purchases $206,089,287 $206,089,287 $ 206,089,287
- Sales $206,726,266 206,726,266 206,726,266 --
S-3