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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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) December 7, 2006

                             WALTER INDUSTRIES, INC.
             (Exact name of registrant as specified in its charter)

            Delaware                   001-13711               13-3429953
(State or other jurisdiction of       (Commission             (IRS Employer
 incorporation or organization)       File Number)         Identification No.)

     4211 W. Boy Scout Boulevard, Tampa, Florida                 33607
       (Address of principal executive offices)               (Zip Code)

       Registrant's telephone number, including area code: (813) 871-4811

                                 NOT APPLICABLE
          (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:

[ ]  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 240.13-4(c))

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ITEM 8.01     OTHER EVENTS.

          On December 7, 2006, Walter Industries, Inc. issued a press release
announcing the final distribution ratio and other information related to the
spin-off of Mueller Water Products, Inc. A copy of the press release is attached
hereto as Exhibit 99.1.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(d)           Exhibits

99.1          December 7, 2006, Walter Industries Sets Distribution Ratio For
              Spin-Off of Mueller Water Products, Inc. Series B Shares

          The information provided pursuant to this Item 8.01, is "furnished"
and shall not be deemed to be "filed" with the Securities and Exchange
Commission or incorporated by reference in any filing under the Securities
Exchange Act of 1934, as amended or the Securities Act of 1933, as amended,
except as shall be expressly set forth by specific reference in any such
filings.



                                   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.

                                          WALTER INDUSTRIES, INC.


                                          By:     /s/ Victor P. Patrick
                                                  ------------------------------
                                          Title:  Victor P. Patrick
                                                  Vice Chairman, General Counsel
                                                  and Secretary

Date: December 7, 2006