0001137411-15-000132.txt : 20151113 0001137411-15-000132.hdr.sgml : 20151113 20151113171325 ACCESSION NUMBER: 0001137411-15-000132 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20151113 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20151113 DATE AS OF CHANGE: 20151113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROCKWELL COLLINS INC CENTRAL INDEX KEY: 0001137411 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728] IRS NUMBER: 522314475 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16445 FILM NUMBER: 151230141 BUSINESS ADDRESS: STREET 1: 400 COLLINS ROAD NE CITY: CEDAR RAPIDS STATE: IA ZIP: 52498 BUSINESS PHONE: 3192951000 8-K 1 a8-k_111315.htm 8-K 8-K



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):
November 9, 2015


Rockwell Collins, Inc.
(Exact name of registrant as specified in its charter)

Delaware
001-16445
52-2314475
(State or other jurisdiction
(Commission File Number)
(I.R.S. Employer
of incorporation or organization)
 
Identification No.)


400 Collins Road NE
Cedar Rapids, Iowa
52498
(Address of principal executive offices)
(Zip Code)


Registrant's telephone number, including area code: (319) 295-1000

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.
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






INFORMATION TO BE INCLUDED IN THE REPORT


Item 2.05.
Costs Associated with Exit or Disposal Activities.
As contemplated in the Company’s September 18, 2015 earnings guidance press release for its 2016 fiscal year, in October 2015 the Company initiated certain restructuring actions primarily as a result of continued weakness in the business aviation market. The Company offered certain eligible U.S. employees an opportunity to receive a separation benefit if they elected between October 5, 2015 and November 9, 2015 to voluntarily terminate their employment on or before December 18, 2015. The voluntary elections became irrevocable on November 9, 2015 and 468 employees elected to participate. As a result of these elections and other restructuring actions, the Company expects to record a pre-tax restructuring charge in the first quarter of its 2016 fiscal year in the range of $35 million to $45 million primarily consisting of employee severance costs. The estimated charge increased from a range of 10 to 15 cents per share that was included in the Company’s earnings guidance on September 18, 2015 to a range of 18 to 24 cents of earnings per share primarily due to a higher than expected number of employees electing the voluntary separation benefit.
This disclosure contains forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including the scope of our future commitments regarding other contemplated restructuring actions. These forward looking statements are made only as of the date hereof.

Signature

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.

 
 
ROCKWELL COLLINS, INC.
 
 
(Registrant)
 
 
 
 
Dated: November 13, 2015
 
By:
/s/ Tatum J. Buse
 
 
 
Tatum J. Buse
 
 
 
Vice President,
 
 
 
Finance and Controller