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) December 6, 2000
(November 30, 2000)
Sunbeam Corporation
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(Exact Name of Registrant as Specified in Charter)
Delaware 0001-000052 25-1638266
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2381 Executive Center Drive, Boca Raton, Florida 33431
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code 561/912-4100
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(Former Name or Former Address, if Changed Since Last Report)
Item 4. CHANGE IN ACCOUNTANT PREVIOUSLY ENGAGED TO AUDIT A SIGNIFICANT
SUBSIDIARY
Sunbeam's principal auditor since 1998 has been Deloitte & Touche LLP
("D&T"). In reporting on the consolidated financial statements of Sunbeam,
D&T has in each of the years ended December 31, 1998 and 1999 relied on and
referred to the audits of The Coleman Company ("Coleman"), a consolidated
subsidiary of Sunbeam, which audits were performed by Ernst & Young LLP
("E&Y"). Coleman had engaged E&Y to be its auditor prior to Sunbeam's
acquisition of approximately 80% of Coleman in 1998, and continued to use
E&Y for 1998 and 1999 because Coleman was itself a separate public company
and registrant. In January 2000, Sunbeam acquired the remaining publicly
held Coleman shares and Coleman ceased being a separate public company and
registrant.
Since Coleman is now a wholly-owned subsidiary of Sunbeam, separate audits
of its financial statements are no longer required by Securities and
Exchange Commission regulations. Consequently, on November 30, 2000 E&Y was
dismissed as Coleman's auditor, and D&T was engaged to audit the Coleman
subsidiary in conjunction with its audit of Sunbeam.
E&Y's report on the financial statements of Coleman for the years ended
December 31, 1998 and 1999, did not contain an adverse opinion or
disclaimer of opinion, nor was it qualified or modified as to uncertainty,
audit scope, or accounting principles.
This decision was recommended and approved by Sunbeam's audit committee on
November 30, 2000.
During the two fiscal years ended December 31, 1998 and 1999, and through
November 30, 2000, there were no disagreements with E&Y on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedure.
During the two fiscal years ended December 31, 1998 and 1999, and through
November 30, 2000, there were no "Reportable Events" (hereinafter defined)
requiring disclosure pursuant to Item 304(a)(1)(v) of Regulation S-K. As
used herein, the term "Reportable Event" means any of the items listed in
paragraphs (a)(1)(v)(A) through (D) of Item 304 of Regulation S-K.
Sunbeam has requested that E&Y furnish it with a letter addressed to the
Securities and Exchange Commission stating whether it agrees with the above
statements. A copy of such letter, dated November 30, 2000, is attached
hereto as Exhibit 16.
Item 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS
EXHIBITS
Exhibit No. Description
16 Letter from Ernst & Young LLP, dated as of December 6, 2000
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.
Sunbeam Corporation
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(Registrant)
Date December 6, 2000 By:/s/ Steven R. Isko
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Steven R. Isko, Senior Vice President,
General Counsel and Assistant Secretary
