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): August 9, 2006
Service Corporation International
(Exact name of registrant as specified in its charter)
| |
|
|
|
|
| Texas
|
|
1-6402-1
|
|
74-1488375 |
|
|
|
|
|
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S. Employer
Identification No.) |
| |
|
|
| 1929 Allen Parkway Houston, Texas
|
|
77019 |
|
|
|
|
| (Address of principal executive offices)
|
|
(Zip Code) |
Registrant’s telephone number, including area code (713) 522-5141
(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:
|
|
|
| o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
| o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
| o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c)) |
TABLE OF CONTENTS
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
On August 8, 2006, the Audit Committee of the Board of Directors of the Company concluded that the
Company’s previously issued financial statements included in the
Company’s Annual Report on Form 10-K for the year ended
December 31, 2005 and the unaudited consolidated financial
statements included in the Company’s Quarterly Reports on
Form 10-Q for the first three quarters of 2005 and for the first
quarter of 2006 should no longer be relied upon. The Company intends
to restate its financial statements for each of the three years in
the period ended December 31, 2005, the three and nine months
ended September 30, 2005 and 2004, and the three months ended
March 31, 2006 and 2005 in amendments to its Annual Report on
Form 10-K for the year ended December 31, 2005, its
Quarterly Report on Form 10-Q for the quarter ended
September 30, 2005 and its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2006, respectively. The Company
has also restated its financial statements for the three and six
months ended June 30, 2005 in its Quarterly Report on
Form 10-Q for the quarter ended June 30, 2006. The restatement corrects errors related to
(1) the miscalculation of the Company’s actuarially
determined pension benefit obligation, (2) the accounting for certain
leases related to funeral home properties, which were previously accounted for as operating leases,
but should have been accounted for as capital leases, and (3) other out-of-period adjustments
previously identified by the Company but deemed to be not material either individually or in the
aggregate. Management has concluded that the effect of the above adjustments on the Company’s
previously issued financial statements, related to the correction of these errors, is not material
to any of the prior periods described above; however, the aggregate impact of these adjustments is
material to the Company’s second quarter 2006 financial statements and, therefore, requires
restatement of the previously issued financial statements.
The Audit Committee of the Board of Directors has discussed with the Company’s independent
registered public accounting firm, PricewaterhouseCoopers LLP, the matters described above.