-----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, Su1N72YYzMZjVhXRm8EF18jCvGr/fxHnwVs5LxfzbN5V9PGQj8dnVUoMhmTKgH68 SW6MoG1AjioFN4zK1xsytw== 0000950134-06-019709.txt : 20061026 0000950134-06-019709.hdr.sgml : 20061026 20061026094957 ACCESSION NUMBER: 0000950134-06-019709 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061026 ITEM INFORMATION: Other Events FILED AS OF DATE: 20061026 DATE AS OF CHANGE: 20061026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LENNOX INTERNATIONAL INC CENTRAL INDEX KEY: 0001069202 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] IRS NUMBER: 420991521 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15149 FILM NUMBER: 061164485 BUSINESS ADDRESS: STREET 1: 2140 LAKE PARK BLVD CITY: RICHARDSON STATE: TX ZIP: 75080 BUSINESS PHONE: 972-497-5000 MAIL ADDRESS: STREET 1: 2140 LAKE PARK BLVD CITY: RICHARDSON STATE: TX ZIP: 75080 8-K 1 d40587be8vk.htm FORM 8-K e8vk
 

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported):
October 26, 2006
LENNOX INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
         
Delaware   001-15149   42-0991521
(State or other jurisdiction
of incorporation) 		  (Commission File Number)   (IRS Employer
Identification No.)
2140 Lake Park Blvd.
Richardson, Texas 75080
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code:
(972) 497-5000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
     o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 8.01 Other Events.
     Lennox International Inc. (the “Company”) operates in four reportable business segments of the heating, ventilation, air conditioning and refrigeration markets: Residential Heating & Cooling, Commercial Heating & Cooling, Service Experts and Refrigeration. The Company’s management uses segment profit (loss) as the primary measure of profitability to evaluate operating performance and to allocate capital resources.
     In the third quarter of 2006, the Company changed its definition of segment profit (loss) to include realized gains (losses) on settled futures contracts. Realized gains (losses) on settled futures contracts are a component of (gains), losses and other expenses, net in the Company’s Consolidated Statements of Operations. As a result of this change, the Company now defines segment profit (loss) as a segment’s income (loss) from continuing operations before income taxes included in the Company’s Consolidated Statements of Operations, excluding (gains), losses and other expenses, net, restructuring charge, interest expense, net and other (income) expense, net less (plus) realized gains (losses) on settled futures contracts.
     Net sales and segment profit (loss) by business segment, along with a reconciliation of segment profit (loss) to net earnings (loss) for the three months ended March 31, 2006 and 2005 and for the three months ended June 30, 2006 and 2005 have been restated to reflect the change to the Company’s definition of segment profit (loss) and are shown below (in millions):
                                 
    For the  
    Three Months Ended  
    March 31,  
    2006     2005  
    Previously             Previously        
    Reported     Restated     Reported     Restated  
Net Sales
                                
Residential
   $ 416.4     $ 416.4     $ 342.7     $ 342.7  
Commercial
     132.9       132.9       126.2       126.2  
 
                        
Heating and Cooling
     549.3       549.3       468.9       468.9  
Service Experts
     141.0       141.0       135.9       135.9  
Refrigeration
     125.8       125.8       111.9       111.9  
Eliminations
     (16.6 )     (16.6 )     (16.4 )     (16.4 )
 
                        
 
   $ 799.5     $ 799.5     $ 700.3     $ 700.3  
 
                        
 
                                
Segment Profit (Loss)
                                
Residential
   $ 36.8     $ 42.2     $ 28.4     $ 29.6  
Commercial
     5.9       8.3       4.4       4.7  
 
                        
Heating and Cooling
     42.7       50.5       32.8       34.3  
Service Experts
     (6.2 )     (6.2 )     (6.3 )     (6.3 )
Refrigeration
     10.8       12.1       8.4       8.9  
Corporate and other
     (24.1 )     (24.1 )     (19.3 )     (19.3 )
Eliminations
     0.1       0.1       (0.1 )     (0.1 )
 
                        
Segment Profit
     23.3       32.4       15.5       17.5  
Reconciliation to income from continuing operations before income taxes:
                                
(Gains), losses and other expenses, net
     (18.1 )     (18.1 )     (11.5 )     (11.5 )
Restructuring charge
     6.3       6.3       —       —  
Interest expense, net
     0.6       0.6       5.5       5.5  
Other (income) expense, net
     1.0       1.0       0.1       0.1  
 
                        
 
     33.5       42.6       21.4       23.4  
 
                                
Less: Realized gains on settled futures contracts
     —       9.1       —       2.0  
 
                        
 
   $ 33.5     $ 33.5     $ 21.4     $ 21.4  
 
                        

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    For the  
    Three Months Ended  
    June 30,  
    2006     2005  
    Previously             Previously        
    Reported     Restated     Reported     Restated  
Net Sales
                                
Residential
   $ 539.2     $ 539.2     $ 434.7     $ 434.7  
Commercial
     181.1       181.1       171.2       171.2  
 
                        
Heating and Cooling
     720.3       720.3       605.9       605.9  
Service Experts
     177.8       177.8       167.8       167.8  
Refrigeration
     129.9       129.9       116.9       116.9  
Eliminations
     (26.0 )     (26.0 )     (22.8 )     (22.8 )
 
                        
 
   $ 1,002.0     $ 1,002.0     $ 867.8     $ 867.8  
 
                        
 
                                
Segment Profit (Loss)
                                
Residential
   $ 52.4     $ 66.3     $ 55.7     $ 57.3  
Commercial
     14.1       19.4       14.7       15.3  
 
                        
Heating and Cooling
     66.5       85.7       70.4       72.6  
Service Experts
     9.5       9.5       9.2       9.2  
Refrigeration
     10.6       14.3       9.5       10.1  
Corporate and other
     (21.0 )     (21.0 )     (22.9 )     (22.9 )
Eliminations
     (0.4 )     (0.4 )     0.1       0.1  
 
                        
Segment Profit
     65.2       88.1       66.3       69.1  
Reconciliation to income from continuing operations before income taxes:
                                
(Gains), losses and other expenses, net
     (27.2 )     (27.2 )     (6.0 )     (6.0 )
Restructuring charge
     2.3       2.3       2.2       2.2  
Interest expense, net
     1.8       1.8       4.6       4.6  
Other (income) expense, net
     —       —       (0.6 )     (0.6 )
 
                        
 
     88.3       111.2       66.1       68.9  
 
                                
Less: Realized gains on settled futures contracts
     —       22.9       —       2.8  
 
                        
 
   $ 88.3     $ 88.3     $ 66.1     $ 66.1  
 
                        

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  LENNOX INTERNATIONAL INC.
 		  
Date: October 26, 2006  By:   /s/ Kenneth C. Fernandez    
    Name:   Kenneth C. Fernandez   
    Title:   Associate General Counsel   
 

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