<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): October 7, 1999
MOHAWK INDUSTRIES, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 01-19826 52-1604305
--------------- ------------------------ -------------------
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
160 South Industrial Blvd., Calhoun, Georgia 30701
-------------------------------------------------------------
(Address, including zip code, of principal executive offices)
(706) 629-7721
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(Registrant's telephone number, including area code)
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Item 5. Other Events
------------
Mohawk Industries, Inc. ("Mohawk") reclassified certain prior period
financial statement balances to conform to current presentations. The
consolidated supplemental statements of earnings data and balance sheet data
included in Exhibits 99.1 and 99.2, respectively, include such
reclassifications.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
-------------------------------------------------------------------
C. Exhibits
99.1 Consolidated Supplemental Statements of Earnings Data
99.2 Consolidated Supplemental Balance Sheet Data
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SIGNATURE
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.
Mohawk Industries, Inc.
Date: October 7, 1999 By: /s/ Frank H. Boykin
------------------------------
Frank H. Boykin
Corporate Controller
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INDEX TO EXHIBITS
-----------------
Exhibit
-------
99.1 Consolidated Supplemental Statements of Earnings Data
99.2 Consolidated Supplemental Balance Sheet Data
<PAGE>
MOHAWK INDUSTRIES, INC.
CONSOLIDATED SUPPLEMENTAL STATEMENTS OF EARNINGS DATA
(in thousands, except per share data)
EXHIBIT 99.1
Page 1 of 2
<TABLE>
<CAPTION>
Fiscal Quarters Ended
----------------------------------------------------- Year Ended
March 28, June 27, Sept. 26, Dec. 31, Dec. 31,
1998 1998 1998 1998 1998
---------- -------- --------- -------- ----------
<S> <C> <C> <C> <C> <C>
Net sales......................................... $589,473 $689,488 $718,772 $746,887 $2,744,620
Cost of sales..................................... $453,084 $511,882 $541,010 $557,357 $2,063,333
-------- -------- -------- -------- ----------
Gross profit................................ $136,389 $177,606 $177,762 $189,530 $ 681,287
Selling, general and administrative expenses...... $ 98,110 $109,713 $108,279 $116,089 $ 432,191
Carrying value reduction of assets held for sale.. $ 2,900 $ 2,900
-------- -------- -------- -------- ----------
Operating income............................ $ 38,279 $ 67,893 $ 69,483 $ 70,541 $ 246,196
-------- -------- -------- -------- ----------
Other expense:
Interest expense................................ $ 7,990 $ 8,101 $ 7,245 $ 7,687 $ 31,023
Acquisition costs-World pooling................. $ 17,700 $ 17,700
Other expense (income), net..................... $ (56) $ 875 $ 805 $ 1,043 $ 2,667
-------- -------- -------- -------- ----------
$ 7,934 $ 8,976 $ 8,050 $ 26,430 $ 51,390
-------- -------- -------- -------- ----------
Earnings before income taxes................ $ 30,345 $ 58,917 $ 61,433 $ 44,111 $ 194,806
Income taxes...................................... $ 13,210 $ 22,970 $ 24,373 $ 18,999 $ 79,552
-------- -------- -------- -------- ----------
Net earnings................................ $ 17,135 $ 35,947 $ 37,060 $ 25,112 $ 115,254
======== ======== ======== ======== ==========
Basic earnings per share.......................... $ 0.28 $ 0.60 $ 0.61 $ 0.42 $ 1.91
======== ======== ======== ======== ==========
Weighted-average common shares outstanding........ 60,266 60,377 60,435 60,494 60,393
======== ======== ======== ======== ==========
Diluted earnings per share........................ $ 0.28 $ 0.59 $ 0.61 $ 0.41 $ 1.89
======== ======== ======== ======== ==========
Weighted-average common and dilutive potential
common shares outstanding....................... 60,977 61,174 61,169 61,216 61,134
======== ======== ======== ======== ==========
</TABLE>
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MOHAWK INDUSTRIES, INC.
CONSOLIDATED SUPPLEMENTAL STATEMENTS OF EARNINGS DATA
(in thousands, except per share data)
EXHIBIT 99.1
PAGE 2 OF 2
<TABLE>
<CAPTION>
Fiscal Quarters Ended
---------------------------- Six Months
Apr. 3, Jul. 3, Ended Jul. 3,
1999 1999 1999
-------- -------- -------------
<S> <C> <C> <C>
Net sales.................................. $707,167 $790,617 $1,497,784
Cost of sales.............................. $528,838 $589,706 $1,118,544
-------- -------- ----------
Gross profit......................... $178,329 $200,911 $ 379,240
Selling, general and administrative
expenses................................. $122,665 $119,997 $ 242,662
-------- -------- ----------
Operating income..................... $ 55,664 $ 80,914 $ 136,578
-------- -------- ----------
Other expense:
Interest expense......................... $ 7,854 $ 7,753 $ 15,607
Other expense (income), net.............. $ 1,708 $ 280 $ 1,988
-------- -------- ----------
$ 9,562 $ 8,033 $ 17,595
-------- -------- ----------
Earnings before income taxes......... $ 46,102 $ 72,881 $ 118,983
Income taxes............................... $ 18,210 $ 28,788 $ 46,998
-------- -------- ----------
Net earnings......................... $ 27,892 $ 44,093 $ 71,985
======== ======== ==========
Basic earnings per share................... $ 0.46 $ 0.73 $ 1.19
======== ======== ==========
Weighted-average common shares outstanding. 60,565 60,593 60,579
======== ======== ==========
Diluted earnings per share................. $ 0.46 $ 0.72 $ 1.17
======== ======== ==========
Weighted-average common and dilutive
potential common shares outstanding..... 61,285 61,257 61,271
======== ======== ==========
</TABLE>
<PAGE>
MOHAWK INDUSTRIES, INC.
CONSOLIDATED SUPPLEMENTAL BALANCE SHEET DATA
(in thousands)
EXHIBIT 99.2
Page 1 of 2
<TABLE>
<CAPTION>
As Of
---------------------------------------------------------------------------
Mar. 28, 1998 Jun. 27, 1998 Sept. 26, 1998 Dec. 31, 1998
------------- ------------- -------------- -------------
<S> <C> <C> <C> <C>
ASSETS
Current Assets:
Cash............................... $ 80 $ 145 $ 72 $ 2,384
Receivables........................ $ 329,078 $ 339,947 $ 371,367 $ 331,928
Inventories........................ $ 407,663 $ 416,328 $ 443,107 $ 423,837
Prepaid expenses................... $ 12,569 $ 8,203 $ 7,873 $ 19,322
Deferred income taxes.............. $ 38,657 $ 38,932 $ 37,576 $ 52,568
---------- ---------- ---------- ----------
Total current assets........... $ 788,047 $ 803,555 $ 859,995 $ 830,039
Property, plant and
equipment, net..................... $ 415,321 $ 419,801 $ 446,662 $ 454,867
Other assets......................... $ 76,351 $ 76,385 $ 99,479 $ 103,684
---------- ---------- ---------- ----------
$1,279,719 $1,299,741 $1,406,136 $1,388,590
========== ========== ========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-
term debt........................ $ 43,141 $ 39,720 $ 40,262 $ 44,424
Accounts payable and
accrued expenses................. $ 344,428 $ 360,658 $ 384,279 $ 364,037
---------- ---------- ---------- ----------
Total current liabilities...... $ 387,569 $ 400,378 $ 424,541 $ 408,461
Deferred income taxes................ $ 29,281 $ 31,178 $ 31,178 $ 31,025
Long-term debt....................... $ 346,891 $ 315,721 $ 360,216 $ 332,665
Other long-term liabilities.......... $ 5,850 $ 5,487 $ 5,363 $ 5,380
---------- ---------- ---------- ----------
Total liabilities.............. $ 769,591 $ 752,764 $ 821,298 $ 777,531
---------- ---------- ---------- ----------
Stockholders' equity:
Capital stock...................... $ 603 $ 604 $ 604 $ 606
Additional paid-in capital......... $ 169,212 $ 170,169 $ 170,913 $ 172,045
Retained earnings.................. $ 340,313 $ 376,204 $ 413,321 $ 438,408
---------- ---------- ---------- ----------
Total stockholders' equity...... $ 510,128 $ 546,977 $ 584,838 $ 611,059
---------- ---------- ---------- ----------
$1,279,719 $1,299,741 $1,406,136 $1,388,590
========== ========== ========== ==========
</TABLE>
<PAGE>
MOHAWK INDUSTRIES, INC.
CONSOLIDATED SUPPLEMENTAL BALANCE SHEET DATA
(in thousands)
EXHIBIT 99.2
Page 2 of 2
<TABLE>
<CAPTION>
As Of
------------------------------------------
Apr. 3, 1999 Jul. 3, 1999
------------- ------------
<S> <C> <C>
ASSETS
Current Assets:
Receivables $361,027 $372,495
Inventories $498,972 $528,555
Prepaid expenses $8,378 $10,677
Deferred income taxes $52,571 $52,571
---------- ----------
Total current assets $920,948 $964,298
Property, plant and
equipment, net $591,626 $605,567
Other assets $111,089 $108,755
---------- ----------
$1,623,663 $1,678,620
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-
term debt $197,087 $197,038
Accounts payable and
accrued expenses $381,550 $393,016
---------- ----------
Total current liabilities $578,637 $590,054
Deferred income taxes $31,025 $31,025
Long-term debt $363,369 $365,979
Other long-term liabilities $4,925 $869
---------- ----------
Total liabilities $977,956 $987,927
---------- ----------
Stockholders' equity:
Capital stock $606 $606
Additional paid-in capital $178,434 $179,409
Retained earnings $466,667 $510,678
---------- ----------
Total stockholders' equity $645,707 $690,693
---------- ----------
$1,623,663 $1,678,620
========== ==========
</TABLE>
