UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------- FORM 11-K [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1997 or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: _________ A. FULL TITLE OF THE PLAN: CCC INFORMATION SERVICES INC. 401(K) RETIREMENT SAVINGS & INVESTMENT PLAN B. NAME OF ISSUER OF THE SECURITIES HELD PURSUANT TO THE PLAN AND THE ADDRESS OF IT PRINCIPAL EXECUTIVE OFFICES: CCC INFORMATION SERVICES GROUP INC. World Trade Center Chicago 444 Merchandise Mart Chicago, Illinois 60654-1005 CCC INFORMATION SERVICES INC. (A Wholly-Owned Subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS AND INVESTMENT PLAN FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION YEARS ENDED DECEMBER 31, 1997 AND 1996 CCC INFORMATION SERVICES INC. (A Wholly-Owned Subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS AND INVESTMENT PLAN FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION TABLE OF CONTENTS Page(s) ------- Report of Independent Accountants 1 Financial Statements: Statements of Net Assets Available for Plan Benefits, with Fund Information - December 31, 1997 and 1996 2-3 Statements of Changes in Net Assets Available for Plan Benefits, with Fund Information - Years Ended December 31, 1997 and 1996 4-5 Notes to Financial Statements 6-9 Additional Information: Schedule of Assets Held for Investment Purposes - December 31, 1997 Schedule I Schedule of Reportable Transactions - Year Ended December 31, 1997 Schedule II REPORT OF INDEPENDENT ACCOUNTANTS October 12, 1998 To the Participants and Administrator of CCC Information Services Inc. 401(k) Retirement Savings and Investment Plan In our opinion, the accompanying statements of net assets available for plan benefits and the related statements of changes in net assets available for plan benefits present fairly, in all material respects, the net assets available for benefits of the CCC Information Services Inc. 401(k) Retirement Savings and Investment Plan (Plan) at December 31, 1997 and 1996, and the changes in net assets available for plan benefits for the years then ended, in conformity with generally accepted accounting principles. 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 generally accepted auditing standards 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 the opinion expressed above. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in Schedules I and II is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's Management. The Fund Information in the statement of net assets available for plan benefits and the statement of changes in net assets available for plan benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and changes in net assets available for plan benefits of each fund. Schedules I and II and the Fund Information have been subjected to the auditing procedures applied in the 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. PRICEWATERHOUSECOOPERS LLP Chicago, Illinois CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION DECEMBER 31, 1997 Fund Information -------------------------------------------------------------------------------------------- Warburg Fidelity Fidelity Pincus Kemper Spartan The Blue Chip Kemper Growth & Total Fidelity Money Kaufman Growth Growth Income Return Puritan Market Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund ----------- ----------- ----------- ----------- --------- --------- --------- Investments at fair market value $ 3,009,420 $ 3,166,525 $ 1,668,491 $ 1,053,156 $ 542,138 $ 842,156 $ 249,688 Principal loan balance - - - - - - - Contribution receivable Employee 24,780 24,365 7,124 7,360 2,195 7,109 1,516 Employer 2,549 2,287 913 747 375 530 325 ----------- ----------- ----------- ----------- --------- --------- --------- Net assets available for plan benefits $ 3,036,749 $ 3,193,177 $ 1,676,528 $ 1,061,263 $ 544,708 $ 849,795 $ 251,529 ----------- ----------- ----------- ----------- --------- --------- --------- ----------- ----------- ----------- ----------- --------- --------- --------- Fund Information ------------------------------------------------------------------------------------------------- Warburg Kemper Kemper Pincus Income U.S. CCC Berwyn International Kemper and Capital Government Info. Svs. Principal Income Equity International Preservation Securities Group Inc. Loan Fund, Inc. Fund Fund - A Fund - A Fund - A Stock Balance Total ---------- ---------- ------------- ----------- ------------ ---------- ---------- ----------- Investments at fair market value $ 377,228 $ 312,923 $ 314,611 $ 141,993 $ 184,383 $ 396,699 $ - $12,259,411 Principal loan balance - - - - - - 170,089 170,089 Contribution receivable Employee 3,079 3,535 2,230 1,208 1,064 4,118 (2,991) 86,692 Employer 257 389 205 235 134 678 - 9,624 --------- --------- --------- --------- --------- --------- --------- ----------- Net assets available for plan benefits $ 380,564 $ 316,847 $ 317,046 $ 143,436 $ 185,581 $ 401,495 $ 167,098 $12,525,816 --------- --------- --------- --------- --------- --------- --------- ----------- --------- --------- --------- --------- --------- --------- --------- ----------- The accompanying notes are an integral part of this statement. -2- CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION DECEMBER 31, 1996 Fund Information ---------------------------------------------------------------------------------------------- Warburg Fidelity Fidelity Pincus Kemper Spartan The Blue Chip Kemper Growth & Total Fidelity Money Berwyn Kaufman Growth Growth Income Return Puritan Market Income Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund Fund, Inc. ----------- ----------- ----------- --------- --------- --------- --------- ---------- Investments at fair market value $ 2,014,269 $ 1,782,188 $ 1,644,604 $ 717,471 $ 576,772 $ 480,762 $ 454,183 $ 304,389 Principal loan balance - - - - - - - - Contribution receivable Employee 15,428 15,115 7,468 6,760 2,646 4,011 2,304 2,183 Employer 2,273 1,703 1,289 668 587 493 342 373 ----------- ----------- ----------- --------- --------- --------- --------- --------- Total assets $ 2,031,970 $ 1,799,006 $ 1,653,361 $ 724,899 $ 580,005 $ 485,266 $ 456,829 $ 306,945 ----------- ----------- ----------- --------- --------- --------- --------- --------- ----------- ----------- ----------- --------- --------- --------- --------- --------- Amounts due participants Net assets available for plan benefits Fund Information --------------------------------------------------------------------------------------------- Warburg Kemper Kemper Pincus Income U.S. International Kemper and Capital Government Principal Equity International Preservation Securities Loan Fund Fund - A Fund - A Fund - A Balance Other Total ------------ ------------- ------------ ----------- ----------- ------- -------------- Investments at fair market value $ 291,759 $ 229,568 $ 192,639 $ 172,447 $ - $ - $ 8,861,051 Principal loan balance - - - - 144,274 - 144,274 Contribution receivable Employee 2,553 1,914 879 1,233 (2,343) - 60,151 Employer 222 199 165 152 - - 8,466 --------- --------- --------- --------- --------- -------- ----------- Total assets $ 294,534 $ 231,681 $ 193,683 $ 173,832 $ 141,931 - 9,073,942 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Amounts due participants (58,372) (58,372) -------- ----------- Net assets available for plan benefits $(58,372) $ 9,015,570 -------- ----------- -------- ----------- The accompanying notes are an integral part of this statement. -3- CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION DECEMBER 31, 1997 Fund Information --------------------------------------------------------------------------------------- Warburg Fidelity Fidelity Pincus Kemper Spartan The Blue Chip Kemper Growth & Total Fidelity Money Kaufman Growth Growth Income Return Puritan Market Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund ----------- ------------ ------------ ------------ --------- --------- --------- Source of net assets: Contributions Employee $ 710,907 $ 627,834 $ 210,152 $ 190,114 $ 70,904 $153,565 $ 63,197 Employer 141,167 127,986 53,238 40,561 19,607 33,779 13,985 Loan Repayments 17,023 18,369 7,441 4,658 2,698 5,919 2,207 Interest and dividend 92,191 148,800 228,047 168,180 86,320 62,562 15,162 Interest on participant loans - - - - - - - Net appreciation (depreciation) in fair value of investments 236,603 445,228 (640) 72,917 (1,262) 65,194 - ----------- ----------- ------------ ------------ --------- -------- ----------- Total sources 1,197,891 1,368,217 498,238 476,430 178,267 321,019 94,551 ----------- ----------- ------------ ------------ --------- -------- ----------- Application of net assets: Withdrawals (205,484) (257,586) (108,844) (147,754) (53,504) (47,157) (242,277) Loans to participants (16,095) (21,718) (18,445) (4,111) (7,493) (3,496) (11,896) ----------- ----------- ------------ ------------ --------- -------- ----------- Total applications (221,579) (279,304) (127,289) (151,865) (60,997) (50,653) (254,173) ----------- ----------- ------------ ------------ --------- -------- ----------- Interfund transfers, net 28,467 305,258 (347,782) 11,799 (152,567) 94,163 (45,678) ----------- ----------- ------------ ------------ --------- -------- ----------- Increase (decrease) in net assets during the year 1,004,779 1,394,171 23,167 336,364 (35,297) 364,529 (205,300) Net assets available for plan benefits: Beginning of the year 2,031,970 1,799,006 1,653,361 724,899 580,005 485,266 456,829 ----------- ----------- ------------ ------------ --------- -------- ----------- End of the year $ 3,036,749 $ 3,193,177 $ 1,676,528 $ 1,061,263 $ 544,708 $849,795 $ 251,529 ----------- ----------- ------------ ------------ --------- -------- ----------- ----------- ----------- ------------ ------------ --------- -------- ----------- Fund Information ------------------------------------------------------------------------------ Warburg Kemper Kemper Pincus Income U.S. CCC Berwyn International Kemper and Capital Government Info. Svs. Income Equity International Preservation Securities Group Inc. Fund, Inc. Fund Fund - A Fund - A Fund - A Stock ----------- ------------- ------------- ----------- ------------ ---------- Source of net assets: Contributions Employee $ 76,739 $ 85,657 $ 60,969 $ 25,936 $ 25,451 $ 70,207 Employer 18,752 18,083 12,427 7,273 7,838 16,491 Loan Repayments 1,104 3,783 592 840 895 1,304 Interest and dividend 38,529 44,330 15,210 9,382 11,428 - Interest on participant loans - - - - - - Net appreciation (depreciation) in fair value of investments 2,516 (62,222) 2,603 1,384 2,029 94,607 ----------- ----------- ---------- ---------- -------- -------- Total sources 137,640 89,631 91,801 44,815 47,641 182,609 ----------- ----------- ---------- ---------- -------- -------- Application of net assets: Withdrawals (21,795) (36,836) (35,835) (25,681) (20,313) (1,393) Loans to participants (6,518) (2,629) (1,163) (2,933) (1,087) - ----------- ----------- ---------- ---------- -------- -------- Total applications (28,313) (39,465) (36,998) (28,614) (21,400) (1,393) ----------- ----------- ---------- ---------- -------- -------- Interfund transfers, net (35,708) (27,853) 30,562 (66,448) (14,492) 220,279 ----------- ----------- ---------- ---------- -------- -------- Increase (decrease) in net assets during the year 73,619 22,313 85,365 (50,247) 11,749 401,495 Net assets available for plan benefits: Beginning of the year 306,945 294,534 231,681 193,683 173,832 - ----------- ----------- ---------- ---------- -------- -------- End of the year $ 380,564 $ 316,847 $317,046 $ 143,436 $185,581 $401,495 ----------- ----------- ---------- ---------- -------- -------- ----------- ----------- ---------- ---------- -------- -------- Fund Information -------------------------------------- Principal Loan Balance Other Total ----------- ------------ ------------ Source of net assets: Contributions Employee $ - $ - $ 2,371,632 Employer - - 511,187 Loan Repayments (66,833) - - Interest and dividend - - 920,141 Interest on participant loans 13,036 - 13,036 Net appreciation (depreciation) in fair value of investments - - 858,957 ----------- ------------ ------------ Total sources (53,797) - 4,674,953 ----------- ------------ ------------ Application of net assets: Withdrawals (18,620) 58,372 (1,164,707) Loans to participants 97,584 - - ----------- ------------ ------------ Total applications 78,964 58,372 (1,164,707) ----------- ------------ ------------ Interfund transfers, net - - - ----------- ------------ ------------ Increase (decrease) in net assets during the year 25,167 58,372 3,510,246 Net assets available for plan benefits: Beginning of the year 141,931 (58,372) 9,015,570 ----------- ------------ ------------ End of the year $ 167,098 $ - $ 12,525,816 ----------- ------------ ------------ ----------- ------------ ------------ The accompanying notes are an integral part of this statement. -4- CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION DECEMBER 31, 1996 Fund Information -------------------------------------------------------------------------------------- Warburg Fidelity Fidelity Pincus Kemper Spartan The Blue Chip Kemper Growth & Total Fidelity Money Kaufman Growth Growth Income Return Puritan Market Fund, Inc. Fund Fund - A Fund Fund - A Fund Fund ----------- ------------ ------------ ------------ --------- --------- --------- Source of net assets: Contributions Employee $ 546,435 $ 551,461 $ 264,349 $ 272,801 $ 85,120 $ 105,885 $ 101,165 Employer 86,504 93,053 46,872 43,668 18,868 21,969 14,742 Loan repayments 12,831 15,853 6,053 4,204 2,317 5,346 4,360 Interest and dividends 94,128 117,572 371,794 2,575 81,884 51,653 21,152 Interest from participant loans - - - - - - - Net appreciation (depreciation) in fair value of investments 166,081 98,988 (155,085) (15,237) 1,077 6,750 - ----------- ----------- ----------- ----------- --------- --------- --------- Total sources 905,979 876,927 533,983 308,011 189,266 191,603 141,419 ----------- ----------- ----------- ----------- --------- --------- --------- Application of net assets: Withdrawals (139,740) (105,947) (179,493) (53,995) (89,564) (52,269) (229,306) Loans to participants (30,681) (26,135) (19,534) (6,291) (4,208) (8,899) (1,808) ----------- ----------- ----------- ----------- --------- --------- --------- Total applications (170,421) (132,082) (199,027) (60,286) (93,772) (61,168) (231,114) ----------- ----------- ----------- ----------- --------- --------- --------- Interfund transfers, net 316,811 (53,230) (36,880) (98,887) (50,082) 31,193 (12,085) ----------- ----------- ----------- ----------- --------- --------- --------- Increase (decrease) in net assets during the year 1,052,369 691,615 298,076 148,838 45,412 161,628 (101,780) Net assets available for plan benefits: Beginning of the year 979,601 1,107,391 1,355,285 576,061 534,593 323,638 558,609 ----------- ----------- ----------- ----------- --------- --------- --------- End of year $ 2,031,970 $ 1,799,006 $ 1,653,361 $ 724,899 $ 580,005 $ 485,266 $ 456,829 ----------- ----------- ----------- ----------- --------- --------- --------- ----------- ----------- ----------- ----------- --------- --------- --------- Fund Information ------------------------------------------------------------------- Warburg Kemper Kemper Pincus Income U.S. Berwyn International Kemper and Capital Government Income Equity International Preservation Securities Fund, Inc. Fund Fund - A Fund - A Fund - A ----------- ------------- ------------- ----------- ------------ Source of net assets: Contributions Employee $ 70,423 $ 103,721 $ 44,616 $ 33,779 $ 34,905 Employer 13,788 14,290 9,474 7,506 8,537 Loan repayments 1,039 2,421 716 545 995 Interest and dividends 27,130 11,677 14,486 12,632 13,945 Interest from participant loans - - - - - Net appreciation (depreciation) in fair value of investments 8,776 13,930 15,569 (9,898) (8,819) ----------- ----------- ----------- ----------- ----------- Total sources 121,156 146,039 84,861 44,564 49,563 ----------- ----------- ----------- ----------- ----------- Application of net assets: Withdrawals (30,480) (27,501) (31,013) (14,367) (32,160) Loans to participants (421) (7,266) (1,789) (3,087) (1,626) ----------- ----------- ----------- ----------- ----------- Total applications (30,901) (34,767) (32,802) (17,454) (33,786) ----------- ----------- ----------- ----------- ----------- Interfund transfers, net (28,612) (17,582) 26,406 (31,180) (45,872) ----------- ----------- ----------- ----------- ----------- Increase (decrease) in net assets during the year 61,643 93,690 78,465 (4,070) (30,095) Net assets available for plan benefits: Beginning of the year 245,302 200,844 153,216 197,753 203,927 ----------- ----------- ----------- ----------- ----------- End of year $ 306,945 $ 294,534 $ 231,681 $ 193,683 $ 173,832 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Fund Information --------------------------------------- Principal Loan Balance Other Total ----------- ------------ ------------ Source of net assets: Contributions Employee $ - $ - $ 2,214,660 Employer - - 379,271 Loan repayments (56,680) - - Interest and dividends - - 820,628 Interest from participant loans 10,849 - 10,849 Net appreciation (depreciation) in fair value of investments - - 122,132 ----------- ----------- ----------- Total sources (45,831) - 3,547,540 ----------- ----------- ----------- Application of net assets: Withdrawals (14,842) (384) (1,001,061) Loans to participants 111,745 - - ----------- ----------- ----------- Total applications 96,903 (384) (1,001,061) ----------- ----------- ----------- Interfund transfers, net - - - ----------- ----------- ----------- Increase (decrease) in net assets during the year 51,072 (384) 2,546,479 Net assets available for plan benefits: Beginning of the year 90,859 (57,988) $ 6,469,091 ----------- ----------- ----------- End of year $ 141,931 ($ 58,372) $ 9,015,570 ----------- ----------- ----------- ----------- ----------- ----------- The accompanying notes are an integral part of this statement -5- CCC INFORMATION SERVICES INC. (A Subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS NOTE 1 - DESCRIPTION OF THE PLAN GENERAL The CCC Information Services Inc. (Company) 401(k) Retirement Savings & Investment Plan (Plan) is a defined contribution plan pursuant to Section 401(k) of the Internal Revenue Code (IRC). The Plan is designed to provide retirement benefits for all employees of the Company. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. TRUSTEE The Company has appointed an officer of the Company as trustee for the Plan. THIRD PARTY ADMINISTRATOR AND CUSTODIAN The Benefit Center, Inc. and Fidelity Funds Network perform third party administrator and custodial duties, respectively. PARTICIPATION AND VESTING Employees who have completed at least six months of service and attained the age of 20 are eligible to participate in the Plan. Participants are 100% vested in their account balances, including employer contributions. CONTRIBUTIONS Plan participants may contribute annually an amount ranging between 1% and 14% of eligible compensation into any of the Plan's established Investment Funds, as specified in the Plan agreement. All participant contributions are subject to limitations set forth in the IRC and the regulations promulgated thereunder. The Company match of 33% of participant contributions was increased to 50%, effective April 1, 1997 and is limited to an annual maximum of $1,000 per participant. INVESTMENT FUNDS 1. THE KAUFMANN FUND, INC. Funds are invested in shares of a registered investment company that invests in common stocks, convertible preferred stocks and bonds, including convertible bonds. The fund may also invest, subject to specific percentage limitations, in warrants, options, restricted securities, the securities of foreign issuers and in the securities of other investment companies. The fund may also, subject to specific percentage limitations, engage in short selling and in leveraging. 2. FIDELITY BLUE CHIP GROWTH FUND Funds are invested in shares of a registered investment company that invests in common stocks of well-known and established companies. 3. KEMPER GROWTH FUND - A Funds are invested in shares of a registered investment company that invests in common stocks of companies with above average growth prospects, but may also be invested in convertible securities such as bonds and preferred stock. -6- 4. WARBURG PINCUS GROWTH & INCOME FUND Funds are invested in shares of a registered investment company that invests in equity securities, including common stock, securities that are convertible into common stock and readily marketable securities, such as rights and warrants, which derive their value from common stock. 5. KEMPER TOTAL RETURN FUND - A Funds are invested in shares of a registered investment company that invests in bonds, debt securities, preferred stocks and equity securities seeking a combination of income and capital appreciation. 6. FIDELITY PURITAN FUND Funds are invested in shares of a registered investment company that invests in a broadly diversified portfolio of high-yielding securities, such as common stocks, preferred stocks, and bonds. 7. FIDELITY SPARTAN MONEY MARKET FUND Funds are invested in shares of a registered investment company that invests in high-quality, short-term money market securities of all types. 8. BERWYN INCOME FUND, INC. Funds are invested in shares of a registered investment company that invests in fixed income corporate debt securities, preferred stocks, securities issued or guaranteed by the U.S. Government, and common stocks paying cash dividends. The fixed income corporate debt securities in which the fund will invest will be bonds, debentures and corporate notes. 9. WARBURG PINCUS INTERNATIONAL EQUITY FUND Funds are invested in shares of a registered investment company that invests in equity securities of companies that have their principal business activities and interests outside the United States. 10. KEMPER INTERNATIONAL FUND - A Funds are invested in shares of a registered investment company that invests in an internationally diversified portfolio of equity securities, principally non-U.S. issuers. 11. KEMPER INCOME AND CAPITAL PRESERVATION FUND - A Funds are invested in shares of a registered investment company that invests in investment grade debt securities. 12. KEMPER UNITED STATES (U.S.) GOVERNMENT SECURITIES FUND - A Funds are invested in shares of a registered investment company that invests in obligations issued or guaranteed by the U.S. Government or its agencies. 13. CCC INFORMATION SERVICES GROUP INC. STOCK Funds are invested in the common stock of CCC Information Services Group Inc. (CCCISG). Participants are able to invest up to 25% of their total contribution in CCCISG stock. Enrollment in the Plan and changes in the amount of participant contributions were initially effective on a quarterly basis, starting January 1. Effective May 1, 1997 these changes take effect only on February 1, May 1, August 1 or November 1. Participants may change the allocation of their contributions at any time. LOANS The Plan provides for loans to participants in hardship situations and for the purchases of their primary residence. The loan repayment terms and interest rates are approved by the Plan Trustee. These loans reduce participant investments in their respective selected Investment Funds. Principal and interest are paid ratably through monthly payroll deductions. WITHDRAWALS The Plan provides that a participant may receive a distribution only in the following circumstances: (1) the participant attains age 70-1/2, (2) the participant retires, (3) the participant separates from the Company, (4) the participant dies, (5) the participant becomes disabled, (6) the participant encounters a financial hardship as specified in the Plan, or (7) there is a Qualified Domestic Relations Order issued by a court against the participant. -7- NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES BASIS OF ACCOUNTING The financial statements of the Plan are prepared under the accrual method of accounting. 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 in assets, liabilities and changes therein. Actual results could differ from those estimates. INVESTMENT VALUATION AND INCOME The Plan's investments are stated at fair value. Shares of registered investments companies, as well as the CCCISG stock are valued at quoted market prices. Participant loans are valued at face value, which approximates fair value. 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. Certain accounts have been reclassified for the year ended December 31, 1996 to conform with the current year financial statement presentation. PAYMENT OF BENEFITS Benefits are recorded when paid. EXPENSES OF THE PLAN The Company has paid expenses incurred by the Plan Administrator or Trustee in the administration of the Plan. The Company may elect, at any time, to charge Plan administration expenses to the Plan. NOTE 3 - DUE TO PARTICIPANTS EXCESS CONTRIBUTIONS Amounts due participants presented in the Statement of Net Assets Available for Plan Benefits as of December 31, 1996 consisted of excess contribution amounts to be refunded to participants, as a result of discrimination testing set forth in the IRC. For the year ended December 31, 1997, no excess contributions were refundable to participants at year-end. NOTE 4 - PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right to discontinue its contributions at any time and to terminate the Plan subject to the provisions of the Employee Retirement Income Security Act of 1974. In the event of termination, the Plan's assets will be distributed to participants in accordance with the Plan's provisions. -8- NOTE 5 - RECONCILIATION OF FINANCIAL STATEMENTS TO THE FORM 5500 In accordance with authoritative guidance for accounting and disclosure by employee benefit plans, participant distributions payable at year-end are not presented as a liability in the Statement of Net Assets or included in benefit payments in the Statement of Changes in Net Assets, resulting in a difference between the Plan's Form 5500 and the accompanying financial statements. Benefit payments obligations existing at December 31, 1997 and 1996 were $0 and $115,446 respectively. The following is a reconciliation of the net assets available for benefits per the financial statements to the Form 5500: December 31, 1997 1996 ----------- ----------- Net assets available for benefits per the financial statements $12,525,816 $ 9,015,570 Amounts allocated to withdrawing participants - (115,446) ----------- ----------- Net assets available for benefits per the Form 5500 $12,525,816 $ 8,900,124 ----------- ----------- ----------- ----------- 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 per the financial statements $ 1,164,707 Add: Amounts allocated to withdrawing participants at December 31, 1997 - Less: Amounts allocated to withdrawing participants at December 31, 1996 (115,446) ----------- Benefits paid to participants per the Form 5500 $ 1,049,261 ----------- ----------- NOTE 6 - TAX STATUS Prior to August 1, 1995 the Plan was a standardized prototype plan and, thus, the Plan relied on the Internal Revenue Service (IRS) opinion letter issued to the sponsor of the prototype plan. Effective August 1, 1995, the Plan was restated as an individually designed plan. The Internal Revenue Service has determined and informed the Company by a letter dated June 20, 1997, that the Plan are designed in accordance with applicable sections of the IRC. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's counsel believe that the Plan is designed and is currently be operated in compliance with the applicable requirements of the IRC. Consequently, no provision for income taxes has been made in the accompanying financial statements. -9- SCHEDULE I CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN ITEM 27(a) SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1997 Identity of Issue, Borrower, Description of Current Lessor, or Similar Party Investments Cost Value --------------------------- -------------- ----------- ----------- 472,436 Shares of The Kaufman Fund, Inc. Mutual Fund $ 2,659,993 $ 3,009,420 *1 80,246 Shares of Fidelity Blue Chip Growth Fund Mutual Fund 2,742,719 3,166,525 127,463 Shares of Kemper Growth Fund - A Mutual Fund 1,827,965 1,668,491 63,905 Shares of Warburg Pincus Growth & Income Fund Mutual Fund 1,038,045 1,053,156 53,677 Shares of Kemper Total Return Fund - A Mutual Fund 555,614 542,138 *1 43,454 Shares of Fidelity Puritan Fund Mutual Fund 778,395 842,156 *1 249,688 Shares of Fidelity Spartan Money Market Fund Mutual Fund 249,688 249,688 30,154 Shares of The Berwyn Income Fund, Inc. Mutual Fund 377,014 377,228 18,396 Shares of Warburg Pincus International Fund - A Mutual Fund 370,596 312,923 25,725 Shares of Kemper International Fund - A Mutual Fund 306,909 314,611 16,568 Shares of Kemper Income and Capital Preservation Fund - A Mutual Fund 140,065 141,993 21,024 Shares of Kemper U.S. Government Securities Fund - A Mutual Fund 184,091 184,383 *1 20,086 Shares of CCC Information Services Group Inc. Stock Common Stock 309,439 396,699 *1 Plan Participants Participant Loans*2 - 170,089 ----------- ----------- Total $11,540,533 $12,429,500 ----------- ----------- ----------- ----------- *1 - Denotes party-in-interest *2 - Interest rates range from 7.75% to 10.30% SCHEDULE II CCC INFORMATION SERVICES INC. (A wholly owned subsidiary of CCC Information Services Group Inc.) 401(k) RETIREMENT SAVINGS & INVESTMENT PLAN ITEM 27(d) - SCHEDULE OF REPORTABLE TRANSACTIONS*1 DECEMBER 31, 1997 Identity of Party Involved Description of Asset Purchase Selling Lease Expense Cost of Current Net Gain - -------------------------- --------------------- Price Price Rental Incurred Asset Value of (Loss) ---------- -------- ------ with ---------- Asset on -------- Transaction Transaction ----------- Date ----------- The Kaufman Fund, Inc. Purchased 216,672 $1,297,461 $ - $ - $ - $1,297,461 $1,297,461 $ - shares of The Kaufman Fund, Inc. The Kaufman Fund, Inc. Sold 89,144 shares of - 538,913 - - 520,604 538,913 18,309 The Kaufman Fund, Inc. Kemper Growth Purchased 42,565 shares 567,507 - - - 567,507 567,507 - of Kemper Growth Fund - A Kemper Growth Sold 41,125 shares of - 542,980 - - 536,682 542,980 6,298 Kemper Growth Fund - A Fidelity Blue Chip Purchased 38,753 shares 1,421,286 - - - 1,421,286 1,421,286 - of Fidelity Blue Chip Growth Fund Fidelity Blue Chip Sold 13,022 shares of - 482,178 - - 425,750 482,178 56,428 Fidelity Blue Chip Growth Fund Warburg Pincus Growth Purchased 37,531 shares 616,325 - - - 616,325 616,325 - & Income Fund of Warburg Pincus Growth & Income Fund *1 Transaction or series of transactions which total five percent of the current value of plan assets at the beginning of the plan year are included as reportable transactions. CCC INFORMATION SERVICES GROUP INC. AND SUBSIDIARIES SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Trustee has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: November 20, 1998 CCC Information Services Group Inc. By: /s/Mary Kay Duncan ---------------------------------- Name: Mary Kay Duncan Title: Vice President Human Resources and Plan Trustee