01—Abstract
Summary
Summary of the 8-K/A filed May 5, 2004. Cited figures are marked; the original filing is the authoritative source.
Ecolab Inc. (ECL) filed an 8-K/A amendment on May 4, 2004, to provide an update related to its first-quarter 2004 financial results, initially reported on April 22, 2004.
The amendment clarifies a specific accounting adjustment identified post-earnings release. The company found it necessary to adjust Cash and Cash Equivalents by $7,698,000,a with a corresponding increase in Other Current Liabilities. Importantly, this adjustment had no impact on net income or shareholder's equity.
This disclosure reassures investors that while an accounting correction was made, it does not alter the company's reported profitability for the quarter or its overall equity position. The adjustment has been reflected in the Consolidated Balance Sheet filed as an exhibit and will be included in the forthcoming Form 10-Q for the quarter ended March 31, 2004. Investors can view this as a procedural update that maintains the integrity of the financial reporting without affecting core financial performance metrics.
02—Key points
Key Highlights
- Ecolab Inc. (ECL) filed an 8-K/A amendment on May 4, 2004, to correct a financial reporting detail.
- The amendment relates to the first quarter ended March 31, 2004.
- A $7,698,000 adjustment was made to Cash and Cash Equivalents.
- A corresponding $7,698,000 adjustment was made to Other Current Liabilities.
- The identified adjustment had no impact on net income or shareholder's equity.
- The corrected figures are reflected in the Consolidated Balance Sheet filed with the amendment.
- These adjustments will be properly reflected in the upcoming Form 10-Q filing.
03—Questions
Frequently Asked Questions
What is the primary reason for this 8-K/A filing?
The primary reason for this 8-K/A filing is to amend and clarify a detail in the financial reporting for Ecolab's first quarter ended March 31, 2004, which was initially released on April 22, 2004. Specifically, it corrects an adjustment to Cash and Cash Equivalents and Other Current Liabilities.
What was the specific financial adjustment made?
Ecolab identified an adjustment of $7,698,000 to its Cash and Cash Equivalents balance. This adjustment was offset by a corresponding increase in Other Current Liabilities, meaning the net effect on the company's overall financial position was neutral.
Does this adjustment affect Ecolab's profitability or shareholder equity?
No, the filing explicitly states that this adjustment had no impact on the Consolidated Statement of Income and therefore no impact on shareholder's equity.
Where can I find the updated financial information?
The updated Consolidated Balance Sheet, reflecting these adjustments, is included as an exhibit to this 8-K/A filing. The full financial statements, including these adjustments, will also be properly reflected in Ecolab's Form 10-Q for the quarter ended March 31, 2004.
04—Continue