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): February 6, 1998
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AMERICAN STANDARD COMPANIES INC.
(Exact name of registrant as specified in its charter)
Delaware 1-11415 13-3465896
(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation or organization) Identification No.)
One Centennial Avenue, P.O. Box 6820, Piscataway, NJ 08855-6820
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (732)980-6000
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ITEM 5. OTHER EVENTS
Adoption of New Accounting Pronouncement:
Effective December 31, 1997, the Company adopted Statement of Financial
Accounting Standards No. 128, "Earnings per Share" ("FAS 128"), which simplifies
the standards for computing earnings per share, requires the presentation of
basic and diluted per share amounts on the income statement and requires the
restatement of all prior periods presented. Adoption of FAS 128 did not have a
significant effect on previously reported per share amounts. By press release
dated February 3, 1998, the Company announced its earnings for the quarter and
full year ended December 31, 1997, with per share amounts for all periods
presented in conformity with FAS 128. Such press release has been filed as an
exhibit to a Current Report on Form 8-K dated February 8, 1998.
The Company completed an initial public offering of its common stock in
February 1995, and in conjunction therewith granted stock options. Prior thereto
the Company had a simple capital structure with no securities constituting
common stock equivalents. Therefore, for the years 1992, 1993 and 1994 (all of
which resulted in net losses), the previously reported loss per share for each
of those years would be unchanged under FAS 128, with basic and diluted amounts
being the same. For 1995, the previously reported income before extraordinary
item of $1.90 per share would be restated to report basic and diluted earnings
before extraordinary item of $1.90 and $1.87 per share, respectively; net income
per share of $1.50 would be restated to report basic and diluted earnings per
share of $1.50 and $1.47, respectively. Basic earnings per share for all
quarters of 1995 are equal to the previously reported earnings per share.
Diluted earnings per share for the first and fourth quarters of 1995 are equal
to basic earnings per share for such quarters, while for each of the second and
third quarters of 1995 diluted earnings per share are $.01 lower than basic
earnings per share. Similarly, for the second, third and fourth quarters of
1996, diluted earnings per share are, respectively, $.01, $.02 and $.01 lower
than basic earnings 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.
AMERICAN STANDARD COMPANIES INC.
G. Ronald Simon____________________
Title: Vice President and Controller
DATE: February 10, 1998
