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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):
April 24, 1996
DEL WEBB CORPORATION
(Exact name of registrant as specified in its charter)
Delaware, 1-4785, 86-0077724
(State or other jurisdiction of incorporation,
Commission File Number,
I.R.S. Employer Identification No.)
6001 N. 24th Street
Phoenix, Arizona 85016
(Address of principal executive offices)
(602)808-8000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On April 24, 1996, Del Webb Corporation announced that it will record a
special, non-cash pre-tax charge of $65 million in connection with its adoption
of a new accounting standard (Statement of Financial Accounting Standards No.
121) that affects the valuation of the Company's Sun City Palm Desert active
adult community in the Coachella Valley, near Palm Springs. The special charge
will impact net earnings for the quarter ended March 31, 1996 by $42.3 million
after tax or $2.35 per share.
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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, thereunto duly authorized.
DEL WEBB CORPORATION
By: /s/ ROBERTSON C. JONES
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Robertson C. Jones
Vice President and
General Counsel
Date: April 24, 1996
