-----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, MibjSuAhiZ5K1VAOAliwvSlHt8rztu9axnU9fSSonbnCFkkfOSyNJeU0BUTk65lf YW9nWZM3a9d1yQrZunQcOw== 0000950144-07-003590.txt : 20070420 0000950144-07-003590.hdr.sgml : 20070420 20070420100504 ACCESSION NUMBER: 0000950144-07-003590 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070329 ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070420 DATE AS OF CHANGE: 20070420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOODRICH CORP CENTRAL INDEX KEY: 0000042542 STANDARD INDUSTRIAL CLASSIFICATION: GUIDED MISSILES & SPACE VEHICLES & PARTS [3760] IRS NUMBER: 340252680 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-00892 FILM NUMBER: 07777500 BUSINESS ADDRESS: STREET 1: 4 COLISEUM CENTRE STREET 2: 2730 WEST TYVOLA ROAD CITY: CHARLOTTE STATE: NC ZIP: 28217 BUSINESS PHONE: 7044237000 MAIL ADDRESS: STREET 1: 4 COLISEUM CENTRE STREET 2: 2730 WEST TYVOLA RD CITY: CHARLOTTE STATE: NC ZIP: 28217 FORMER COMPANY: FORMER CONFORMED NAME: GOODRICH B F CO DATE OF NAME CHANGE: 19920703 8-K/A 1 g06815e8vkza.htm GOODRICH CORPORATION Goodrich Corporation
 

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 29, 2007
GOODRICH CORPORATION
(Exact name of registrant as specified in its charter)
         
New York   1-892   34-0252680
(State or other   (Commission   (IRS Employer
jurisdiction of   File Number)   Identification No.)
incorporation)        
Four Coliseum Centre
2730 West Tyvola Road
Charlotte, North Carolina 28217
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (704) 423-7000
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:
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))
 
 

 

 

Explanatory Note
     On March 29, 2007, Goodrich Corporation (the “Company”) filed a Form 8-K providing reclassified information about the January 1, 2007 reorganization of our businesses. The Company has determined that the originally filed unaudited financial schedules did not reflect the appropriate classification of certain costs between the business segments resulting from the organization changes that occurred in the first quarter of 2007. This Form 8-K/A amends the following items included in the financial schedules contained in Exhibit 99.1: segment operating income and segment operating income as a percent of sales for Actuation and Landing Systems and Electronic Systems for the first and second quarters and full-year 2006; and the segment operating income and segment operating income as a percent of sales for Nacelles and Interior Systems and Actuation and Landing Systems for the fourth quarter and full year 2006.
Item 9.01. Financial Statements and Exhibits.
(d)   Exhibits.
The following exhibit is being filed with this Current Report on Form 8-K:
Exhibit 99.1     Financial Schedules
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.
         
  GOODRICH CORPORATION
(Registrant)
 		  
Date: April 20, 2007  By:   /s/ Scott E. Kuechle    
    Scott E. Kuechle   
    Senior Vice President and
Chief Financial Officer 		  

2

 

         
Exhibit Index
Exhibit 99.1     Financial Schedules

3

EX-99.1 2 g06815exv99w1.htm EXHIBIT 99.1 EXHIBIT 99.1
 

GOODRICH CORPORATION
SEGMENT RESULTS OF OPERATIONS AS REPORTED UNDER THE NEW ORGANIZATION STUCTURE (UNAUDITED)
(DOLLARS IN MILLIONS)
                                                 
    Full Year     1st Quarter     2nd Quarter     3rd Quarter     4th Quarter     Full Year  
    2005     2006     2006     2006     2006     2006  
Sales:
                                                
Actuation and Landing Systems (formerly Airframe Systems)
   $ 2,126.4     $ 538.4     $ 561.9     $ 556.5     $ 586.2     $ 2,243.0  
Nacelles and Interior Systems (formerly Engine Systems)
     1,734.9       493.8       514.9       464.2       510.6       1,983.5  
Electronic Systems
     1,535.2       391.6       406.4       415.3       438.5       1,651.8  
 
                                    
 
                                                
Total Sales
   $ 5,396.5     $ 1,423.8     $ 1,483.2     $ 1,436.0     $ 1,535.3     $ 5,878.3  
 
                                    
 
                                                
Operating Income:
                                                
Actuation and Landing Systems
   $ 111.4     $ 23.3     $ 39.3     $ 43.0     $ 35.0     $ 140.6  
Nacelles and Interior Systems
     321.9       104.8       114.8       103.4       94.8       417.8  
Electronic Systems
     188.4       42.9       54.1       56.8       65.5       219.3  
 
                                    
 
                                                
Total Segment Operating Income (1)
     621.7       171.0       208.2       203.2       195.3       777.7  
 
                                                
Corporate General and Administrative Costs
     (88.4 )     (27.2 )     (23.9 )     (23.0 )     (30.9 )     (105.0 )
Unallocated ERP Implementation Costs
     —       (1.1 )     (5.5 )     (5.8 )     (4.0 )     (16.4 )
Pension Curtailment
     —       —       (10.9 )     —       —       (10.9 )
 
                                    
 
                                                
Total Operating Income
   $ 533.3     $ 142.7     $ 167.9     $ 174.4     $ 160.4     $ 645.4  
 
                                    
 
                                                
Segment Operating Income as a Percent of Sales:
                                                
Actuation and Landing Systems
     5.2 %     4.3 %     7.0 %     7.7 %     6.0 %     6.3 %
Nacelles and Interior Systems
     18.6 %     21.2 %     22.3 %     22.3 %     18.6 %     21.1 %
Electronic Systems
     12.3 %     11.0 %     13.3 %     13.7 %     14.9 %     13.3 %
 
                                                
Total Segment Operating Income as a Percent of Sales
     11.5 %     12.0 %     14.0 %     14.2 %     12.7 %     13.2 %
 
                                                
Total Operating Income as a Percent of Sales
     9.9 %     10.0 %     11.3 %     12.1 %     10.4 %     11.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 1

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
Full Year   Organizational     Segment     Implementation     Services     Organizational  
2005   Structure     Reorganization     Costs (2)     Reallocation     Structure  
 
                              
Sales:
                                        
Actuation and Landing Systems
   $ 1,854.2     $ 244.6     $ —     $ 27.6     $ 2,126.4  
Nacelles and Interior Systems
     2,237.6       (378.9 )     —       (123.8 )     1,734.9  
Electronic Systems
     1,304.7       134.3       —       96.2       1,535.2  
 
                              
 
                                        
Total Sales
   $ 5,396.5     $ —     $ —     $ —     $ 5,396.5  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 76.0     $ 32.2     $ —     $ 3.2     $ 111.4  
Nacelles and Interior Systems
     399.8       (62.8 )     —       (15.1 )     321.9  
Electronic Systems
     145.9       30.6       —       11.9       188.4  
 
                              
 
                                        
Total Segment Operating Income (1)
     621.7       —       —       —       621.7  
 
                                      
 
                                        
Corporate General and Administrative Costs
     (88.4 )     —       —       —       (88.4 )
Unallocated ERP Implementation Costs
     —       —       —       —       —  
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 533.3     $ —     $ —     $ —     $ 533.3  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     4.1 %                             5.2 %
Nacelles and Interior Systems
     17.9 %                             18.6 %
Electronic Systems
     11.2 %                             12.3 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     11.5 %                             11.5 %
 
                                        
Total Operating Income as a Percent of Sales
     9.9 %                             9.9 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.
 
(2)   No Enterprise ERP implementation costs were incurred in 2005.
 

Page 2

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
1st Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
 
                              
Sales:
                                        
Actuation and Landing Systems
   $ 470.3     $ 63.0     $ —     $ 5.1     $ 538.4  
Nacelles and Interior Systems
     610.5       (91.4 )     —     $ (25.3 )     493.8  
Electronic Systems
     343.0       28.4       —     $ 20.2       391.6  
 
                              
 
                                        
Total Sales
   $ 1,423.8     $ —     $ —     $ —     $ 1,423.8  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 14.3     $ 7.3     $ 0.4     $ 1.3     $ 23.3  
Nacelles and Interior Systems
     118.7       (10.5 )     0.5       (3.9 )     104.8  
Electronic Systems
     36.9       3.2       0.2       2.6       42.9  
 
                              
 
                                        
Total Segment Operating Income (1)
     169.9       —       1.1       —       171.0  
 
                                      
 
                                        
Corporate General and Administrative Costs
     (27.2 )     —       —       —       (27.2 )
Unallocated ERP Implementation Costs
     —       —       (1.1 )     —       (1.1 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 142.7     $ —     $ —     $ —     $ 142.7  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     3.0 %                             4.3 %
Nacelles and Interior Systems
     19.4 %                             21.2 %
Electronic Systems
     10.8 %                             11.0 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     11.9 %                             12.0 %
 
                                        
Total Operating Income as a Percent of Sales
     10.0 %                             10.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 3

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
2nd Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 488.6     $ 67.5     $ —     $ 5.8     $ 561.9  
Nacelles and Interior Systems
     634.6       (95.5 )     —     $ (24.2 )     514.9  
Electronic Systems
     360.0       28.0       —     $ 18.4       406.4  
 
                              
 
                                        
Total Sales
   $ 1,483.2     $ —     $ —     $ —     $ 1,483.2  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 28.0     $ 7.9     $ 2.0     $ 1.4     $ 39.3  
Nacelles and Interior Systems
     128.9       (10.6 )     2.2       (5.7 )     114.8  
Electronic Systems
     45.8       2.7       1.3       4.3       54.1  
 
                              
 
                                        
Total Segment Operating Income (1)
     202.7       —       5.5       —       208.2  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (23.9 )     —       —       —       (23.9 )
Unallocated ERP Implementation Costs
     —       —       (5.5 )     —       (5.5 )
Pension Curtailment
     (10.9 )     —       —       —       (10.9 )
 
                              
 
                                        
Total Operating Income
   $ 167.9     $ —     $ —     $ —     $ 167.9  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     5.7 %                             7.0 %
Nacelles and Interior Systems
     20.3 %                             22.3 %
Electronic Systems
     12.7 %                             13.3 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.7 %                             14.0 %
 
                                        
Total Operating Income as a Percent of Sales
     11.3 %                             11.3 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 4

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
3rd Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 481.1     $ 69.4     $ —     $ 6.0     $ 556.5  
Nacelles and Interior Systems
     582.5       (92.1 )     —     $ (26.2 )     464.2  
Electronic Systems
     372.4       22.7       —     $ 20.2       415.3  
 
                              
 
                                        
Total Sales
   $ 1,436.0     $ —     $ —     $ —     $ 1,436.0  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 30.8     $ 9.0     $ 2.1     $ 1.1     $ 43.0  
Nacelles and Interior Systems
     116.2       (10.8 )     2.4       (4.4 )     103.4  
Electronic Systems
     50.4       1.8       1.3       3.3       56.8  
 
                              
 
                                        
Total Segment Operating Income (1)
     197.4       —       5.8       —       203.2  
 
                                      
 
Corporate General and Administrative Costs
     (23.0 )     —       —       —       (23.0 )
Unallocated ERP Implementation Costs
     —       —       (5.8 )     —       (5.8 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 174.4     $ —     $ —     $ —     $ 174.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     6.4 %                             7.7 %
Nacelles and Interior Systems
     19.9 %                             22.3 %
Electronic Systems
     13.5 %                             13.7 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.7 %                             14.2 %
 
                                        
Total Operating Income as a Percent of Sales
     12.1 %                             12.1 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Page 5

 

GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
4th Quarter   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 510.6     $ 68.7     $ —     $ 6.9     $ 586.2  
Nacelles and Interior Systems
     627.7       (93.5 )     —     $ (23.6 )     510.6  
Electronic Systems
     397.0       24.8       —     $ 16.7       438.5  
 
                              
 
                                        
Total Sales
   $ 1,535.3     $ —     $ —     $ —     $ 1,535.3  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 24.4     $ 8.2     $ 1.4     $ 1.0     $ 35.0  
Nacelles and Interior Systems
     107.2       (10.9 )     1.7       (3.2 )     94.8  
Electronic Systems
     59.7       2.7       0.9       2.2       65.5  
 
                              
 
                                        
Total Segment Operating Income (1)
     191.3       —       4.0       —       195.3  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (30.9 )     —       —       —       (30.9 )
Unallocated ERP Implementation Costs
     —       —       (4.0 )     —       (4.0 )
Pension Curtailment
     —       —       —       —       —  
 
                              
 
                                        
Total Operating Income
   $ 160.4     $ —     $ —     $ —     $ 160.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     4.8 %                             6.0 %
Nacelles and Interior Systems
     17.1 %                             18.6 %
Electronic Systems
     15.0 %                             14.9 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     12.5 %                             12.7 %
 
                                        
Total Operating Income as a Percent of Sales
     10.4 %                             10.4 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

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GOODRICH CORPORATION
COMPONENTS OF CHANGES RESULTING FROM
SEGMENT REORGANIZATION AND OTHER CHANGES (UNAUDITED)
(DOLLARS IN MILLIONS)
                                         
    Old             ERP     Customer     New  
Full Year   Organizational     Segment     Implementation     Services     Organizational  
2006   Structure     Reorganization     Costs     Reallocation     Structure  
Sales:
                                        
Actuation and Landing Systems
   $ 1,950.6     $ 268.6     $ —     $ 23.8     $ 2,243.0  
Nacelles and Interior Systems
     2,455.3       (372.5 )     —       (99.3 )     1,983.5  
Electronic Systems
     1,472.4       103.9       —       75.5       1,651.8  
 
                              
 
                                        
Total Sales
   $ 5,878.3     $ —     $ —     $ —     $ 5,878.3  
 
                              
 
                                        
Operating Income:
                                        
Actuation and Landing Systems
   $ 97.5     $ 32.4     $ 5.9     $ 4.8     $ 140.6  
Nacelles and Interior Systems
     471.0       (42.8 )     6.8       (17.2 )     417.8  
Electronic Systems
     192.8       10.4       3.7       12.4       219.3  
 
                              
 
                                        
Total Segment Operating Income (1)
     761.3       —       16.4       —       777.7  
 
                                        
 
                                      
Corporate General and Administrative Costs
     (105.0 )     —       —       —       (105.0 )
Unallocated ERP Implementation Costs
     —       —       (16.4 )     —       (16.4 )
Pension Curtailment
     (10.9 )     —       —       —       (10.9 )
 
                              
 
                                        
Total Operating Income
   $ 645.4     $ —     $ —     $ —     $ 645.4  
 
                              
 
                                        
Segment Operating Income as a Percent of Sales:
                                        
Actuation and Landing Systems
     5.0 %                             6.3 %
Nacelles and Interior Systems
     19.2 %                             21.1 %
Electronic Systems
     13.1 %                             13.3 %
 
                                        
Total Segment Operating Income as a Percent of Sales
     13.0 %                             13.2 %
 
                                        
Total Operating Income as a Percent of Sales
     11.0 %                             11.0 %
 
(1)   Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for the pension curtailment and certain enterprise ERP implementation expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

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