-----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, TUkC4VRSpFVjXHKk6Q05/xMhk+25914sa2p2eyv7t/ublVg9sS6zbBpYQJgUB1AZ c8iYBUHUF3FAVcZU5X+CVg== 0000030554-05-000020.txt : 20050505 0000030554-05-000020.hdr.sgml : 20050505 20050505152900 ACCESSION NUMBER: 0000030554-05-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050505 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050505 DATE AS OF CHANGE: 20050505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DUPONT E I DE NEMOURS & CO CENTRAL INDEX KEY: 0000030554 STANDARD INDUSTRIAL CLASSIFICATION: PLASTIC MAIL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820] IRS NUMBER: 510014090 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00815 FILM NUMBER: 05803397 BUSINESS ADDRESS: STREET 1: 1007 MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19898 BUSINESS PHONE: 3027741000 MAIL ADDRESS: STREET 1: 1007 MARKET ST CITY: WILMINGTON STATE: DE ZIP: 19898 8-K 1 ddproforma.htm DDPROFORMA 3:

 

 






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 5, 2005


E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)


Delaware

1-815

51-0014090

(State or Other Jurisdiction

(Commission

(I.R.S. Employer

Of Incorporation)

File Number)

Identification No.)


1007 Market Street
Wilmington, Delaware    19898
(Address of principal executive offices)


Registrant's telephone number, including area code:    (302) 774-1000











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Item 8.01

Other Events

               On April 30, 2004, E. I. du Pont de Nemours and Company (the "company") completed the sale of the majority of the net assets of Textiles & Interiors, referred to as INVISTA, to subsidiaries of Koch Industries Inc. ("Koch") for $3,844 million, except for the transfer of the company's interest in certain equity affiliates. In April 2005, the company completed a transfer of its interest in an equity affiliate to Koch. As a result of this transfer, the company expects to record a gain of approximately $40 million in the second quarter 2005. The transfer of the remaining affiliates will be delayed until the company receives approval from its equity partners. Upon the transfer of the remaining equity affiliates, the company expects to realize a gain subject to adjustments related to the timing of the transfer.

               In connection with the sale, the company indemnified Koch against certain liabilities primarily related to taxes, legal matters, environmental matters and representations and warranties. The fair value of these obligations is $74 million.

Item 9.01

Financial Statements and Exhibits

(b)

Pro Forma Financial Information

   
 

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED

 

FINANCIAL STATEMENT

   
 

The accompanying unaudited pro forma condensed consolidated income statement for the year ended December 31, 2004 gives effect to the sale as if this transaction had occurred on January 1, 2004. The December 31, 2004 pro forma income statement has not been adjusted to exclude the separation charges, which were reflected in the historical financial statements as of December 31, 2004.

   
 

The unaudited pro forma condensed consolidated income statement presented herein is shown for illustrative purposes only and is not necessarily indicative of the future results of operations of the company, or of the results of operations of the company that would have actually occurred had the transaction been in effect for the period presented. The unaudited pro forma condensed consolidated income statement should be read in conjunction with the historical financial statements and related notes of the company.

Financial Statements and Exhibits:

(1)

E. I. du Pont de Nemours and Company Pro Forma Condensed Consolidated Income Statement (unaudited) for the year ended December 31, 2004.

   

(2)

Notes to the E. I. du Pont de Nemours and Company Pro Forma Condensed Consolidated Income Statement (unaudited) for the year ended December 31, 2004.












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Exhibit 1



E. I. DU PONT DE NEMOURS AND COMPANY
PRO FORMA CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)
(Dollars in millions, except per share)
Year ended December 31, 2004

   

E. I. du Pont

           
   

de Nemours

     

Other

   
   

and Company

 

INVISTA(a)

 

Adjustments

 

Pro Forma

                 

Net sales

 

$27,340

 

$2,082

 

$40(b)

 

$25,298

Other income

 

655

 

61

     

594

                 

Total

 

27,995

 

2,143

 

40

 

25,892

                 

Cost of goods sold and other operating charges

 

20,416

 

1,770

 

26(b)

 

18,672

Selling, general and administrative expenses

 

3,141

 

121

     

3,020

Amortization of intangible assets

 

223

 

-

     

223

Research and development expense

 

1,333

 

41

     

1,292

Interest expense

 

362

 

2

     

360

Employee separation costs and asset

               

impairment charges

 

411

 

-

     

411

Separation charges - Textiles & Interiors

 

667

 

-

     

667

                 

Total

 

$26,553

 

$1,934

 

$26

 

$24,645

                 

Income before income taxes and minority

               

interests

 

1,442

 

209

 

14

 

1,247

                 

(Benefit from) provision for income taxes

 

(329)

 

45

 

5(c)

 

(369)

Minority interests in losses of consolidated

               

subsidiaries

 

(9)

 

6

     

(15)

                 

Net income

 

$ 1,780

 

$ 158

 

$ 9

 

$ 1,631

                 

Basic net income per share of common stock

 

$ 1.78

         

$ 1.63

                 

Weighted-average number of common shares -

               

basic

 

997,624,239

         

997,624,239

                 

Diluted net income per share of common stock

 

$ 1.77

         

$ 1.62

                 

Weighted-average number of common shares -

               

diluted

 

1,003,392,242

         

1,003,392,242

 

See notes to the Pro forma Condensed Consolidated Income Statement (unaudited).










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Exhibit 2



NOTES TO THE E. I. DU PONT DE NEMOURS AND COMPANY PRO FORMA
CONDENSED CONSOLIDATED INCOME STATEMENT (unaudited)



(a)

The "INVISTA" column in the E. I. du Pont de Nemours and Company Pro Forma Condensed Consolidated Income Statement (unaudited) for the year ended December 31, 2004 represents the elimination of the results of the businesses sold to Koch as if the dispositions had occurred as of January 1, 2004. Provision for income taxes reflects a mix of income and losses between tax jurisdictions with different statutory tax rates.

   

(b)

To include net sales (and the related cost of goods sold and other operating charges) made by the company to the businesses sold to Koch that were previously eliminated in the company's consolidated historical results.

   

(c)

Represents adjustment (b) tax effected at the applicable statutory rates.





































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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.


E. I. DU PONT DE NEMOURS AND COMPANY

(Registrant)

 
 

/s/ D. B. Smith

D. B. Smith

Vice President & Controller


May 5, 2005





























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