0001188112-12-001407.txt : 20120507 0001188112-12-001407.hdr.sgml : 20120507 20120507095711 ACCESSION NUMBER: 0001188112-12-001407 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120507 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120507 DATE AS OF CHANGE: 20120507 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: 12816253 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 t73447_8k.htm FORM 8-K t73447_8k.htm
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):
May 7, 2012


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 7.01
Regulation FD Disclosure.
 
    Lennox International Inc. posted an updated Investor Presentation to our website today at www.lennoxinternational.com.  This updated Investor Presentation includes certain financial measures, including GAAP and non-GAAP measures, revised for the annual periods 2007 through 2011 to show the effect of the removal of the Hearth business sold on April 24, 2012.
 
    These revised financial measures for the annual periods 2007 through 2011 are furnished herewith as Exhibit 99.1.
 
Item 9.01
Financial Statements and Exhibits.


(d)
Exhibits.

EXHIBIT
      
NUMBER
  
DESCRIPTION
  
     
99.1
  
Financial Information*
     
     
     
 
 

 
* The information contained in Item 7.01, Exhibit 99.1 and Exhibit 99.2 of this Current Report, is being “furnished” with the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that section. Furthermore, such information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified as being incorporated therein by reference.
 
 
 
 

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:  May 7, 2012


By:
/s/ Robert W. Hau
  
Name:
Robert W. Hau
Title:
Executive Vice President and Chief Financial Officer

 
 EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm
EXHIBIT 99.1
 
 
 graphic
Selected Financial Information and Reconciliation of GAAP Measures and non-GAAP Measures
(Unaudited, in millions, except per share data)
  
 
 
   
As Reported
    
Revised for Discontinued Operations
    
Variances
   
For the Twelve Months Ended December 31,
    
For the Twelve Months Ended December 31,
    
For the Twelve Months Ended December 31,
   
2011
    
2010
    
2009
    
2008
    
2007
    
2011
    
2010
    
2009
    
2008
    
2007
    
2011
    
2010
    
2009
    
2008
    
2007
  
                                                                                           
Net sales
   $ 3,303.6     $ 3,096.4     $ 2,847.5     $ 3,441.1     $ 3,691.7     $ 3,222.0     $ 3,017.5     $ 2,773.0     $ 3,314.5     $ 3,546.6     $ 81.6     $ 78.9     $ 74.5     $ 126.6     $ 145.1  
                                                                                                                         
Income from continuing operations before income taxes, a GAAP measure
   $ 130.6     $ 176.6     $ 100.9     $ 204.3     $ 257.4     $ 156.9     $ 199.5     $ 120.8     $ 216.4     $ 264.8     $ 26.3     $ 22.9     $ 19.9     $ 12.1     $ 7.4  
Special product quality adjustment
     (4.3 )     (0.2 )     18.3       -       (16.9 )     (4.3 )     (0.2 )     18.3       -       (16.9 )     -       -       -       -       -  
Restructuring charges
     16.0       15.6       41.5       30.4       25.2       16.0       14.0       39.3       28.3       21.6       -       (1.6 )     (2.2 )     (2.1 )     (3.6 )
Items in losses (gains) and other expenses, net that are excluded from segment profit
     4.5       11.2       (10.9 )     5.2       3.7       4.9       4.3       (10.9 )     5.2       3.7       0.4       (6.9 )     -       -       -  
Asset impairment
     7.0       -       6.4       9.1       -       0.3       -       6.4       9.1       -       (6.7 )     -       -       -       -  
Goodwill Impairment
     7.6       -       -       -       -       -       -       -       -       -       (7.6 )     -       -       -       -  
Interest expense, net
     16.8       12.8       8.2       14.2       6.8       16.8       12.8       8.2       14.2       6.8       -       -       -       -       -  
Other expenses, net
     0.3       1.0       0.1       0.1       0.7       0.3       1.0       0.1       0.1       0.7       -       -       -       -       -  
                                                                                                                         
EBIT, a Non-GAAP measure
   $ 178.5     $ 217.0     $ 164.5     $ 263.3     $ 276.9     $ 190.9     $ 231.4     $ 182.2     $ 273.3     $ 280.7     $ 12.4     $ 14.4     $ 17.7     $ 10.0     $ 3.8  
                                                                                                                         
Return on Sales ("ROS") (1)
     5.4 %     7.0 %     5.8 %     7.7 %     7.5 %     5.9 %     7.7 %     6.6 %     8.2 %     7.9 %                                        
                                                                                                                         
                                                                                                                         
Income from continuing operations, a GAAP measure
   $ 88.3     $ 117.1     $ 61.8     $ 123.8     $ 165.7     $ 105.3     $ 132.3     $ 74.6     $ 131.8     $ 170.9     $ 17.0     $ 15.2     $ 12.8     $ 8.0     $ 5.2  
   Special product quality adjustment, after tax
     (2.8 )     -       11.3       -       -       (2.8 )     -       11.3       -       -       -       -       -       -       -  
   Restructuring charges, after tax
     10.6       10.0       30.0       20.7       15.8       10.6       9.0       28.6       19.4       13.6       -       (1.0 )     (1.4 )     (1.3 )     (2.2 )
   Items in losses (gains) and other expenses, net after tax (2)
     3.0       6.7       (7.1 )     3.4       2.5       3.2       2.5       (7.2 )     3.4       2.5       0.2       (4.2 )     (0.1 )     -       -  
   Asset impairment, after tax
     4.5       -       4.3       9.1       -       0.2       -       4.3       9.1       -       (4.3 )     -       -       -       -  
   Goodwill impairment, after tax
     5.0       -       -       -       -       -       -       -       -       -       (5.0 )     -       -       -       -  
   Tax items
     -       -       -       -       (3.2 )     -       -       -       -       (3.2 )     -       -       -       -       -  
   Warranty program adjustment, after tax
     -       -       -       -       (10.5 )     -       -       -       -       (10.5 )     -       -       -       -       -  
                                                                                                                         
Adjusted income from continuing operations, a non-GAAP measure
   $ 108.6     $ 133.8     $ 100.3     $ 157.0     $ 170.3     $ 116.5     $ 143.8     $ 111.6     $ 163.7     $ 173.3     $ 7.9     $ 10.0     $ 11.3     $ 6.7     $ 3.0  
                                                                                                                         
Earnings per share from continuing operations - diluted, a GAAP measure
   $ 1.65     $ 2.10     $ 1.09     $ 2.15     $ 2.39     $ 1.97     $ 2.37     $ 1.32     $ 2.26     $ 2.46     $ 0.32     $ 0.27     $ 0.23     $ 0.11     $ 0.07  
   Special product quality adjustment, after tax
     (0.05 )     -       0.20       -       -       (0.05 )     -       0.20       -       -       -       -       -       -       -  
   Restructuring charges, after-tax
     0.20       0.18       0.53       0.35       0.23       0.20       0.17       0.50       0.34       0.21       -       (0.01 )     (0.03 )     (0.01 )     (0.02 )
   Items in losses (gains) and other expenses, net after tax (2)
     0.06       0.12       (0.13 )     0.05       0.04       0.06       0.04       (0.13 )     0.05       0.04       -       (0.08 )     -       -       -  
   Asset impairment, after-tax
     0.08       -       0.08       0.16       -       -       -       0.08       0.16       -       (0.08 )     -       -       -       -  
   Goodwill impairment, after-tax
     0.10       -       -       -       -       -       -       -       -       -       (0.10 )     -       -       -       -  
   Tax item
     -       -       -       -       (0.05 )     -       -       -       -       (0.05 )     -       -       -       -       -  
   Warranty program adjustment, after-tax
     -       -       -       -       (0.16 )     -       -       -       -       (0.16 )     -       -       -       -       -  
Adjusted earnings per share from continuing operations - diluted, a non-GAAP measure
   $ 2.04     $ 2.40     $ 1.77     $ 2.71     $ 2.45     $ 2.18     $ 2.58     $ 1.97     $ 2.81     $ 2.50     $ 0.14     $ 0.18     $ 0.20     $ 0.10     $ 0.05  
                                                                                                                         
Free Cash Flow, a non-GAAP measure
                                                                                                                        
   Net cash provided by operating activities
   $ 76.2     $ 185.8     $ 225.5     $ 183.2     $ 239.9     $ 76.2     $ 185.8     $ 225.5     $ 183.2     $ 239.9     $ -     $ -     $ -     $ -     $ -  
   Purchase of property, plant and equipment
     (43.2 )     (45.8 )     (58.8 )     (62.1 )     (70.2 )     (41.9 )     (43.6 )     (58.1 )     (60.4 )     (67.6 )   $ 1.3     $ 2.2     $ 0.7     $ 1.7     $ 2.6  
Free Cash Flow, a non-GAAP measure
   $ 33.0     $ 140.0     $ 166.7     $ 121.1     $ 169.7     $ 34.3     $ 142.2     $ 167.4     $ 122.8     $ 172.3     $ 1.3     $ 2.2     $ 0.7     $ 1.7     $ 2.6  
                                                                                                                         
(1) ROS is defined as EBIT, a non GAAP measure, divided by Net sales
                                                                                              
(2) Items in losses (gains) and other expenses net after tax include special legal contingency charge, acquisition costs, net change in unrealized gains and losses on open futures contracts, loss or gain on sale of entity and other items
                                                  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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