8-KOther EventsExhibits & Filings

Keysight Technologies, Inc. 8-K Report, Corporate Update (Jan 16, 2019)

Filed January 16, 2019For Securities:KEYS

Summary

Keysight Technologies, Inc. (KEYS) has announced a significant organizational change effective January 16, 2019, designed to better align its services business with its customers and end markets. This restructuring introduces a new segment reporting structure, which will also reflect the retrospective application of ASU 2017-07, an accounting update related to the presentation of net periodic pension cost. Investors should note that this filing primarily serves to announce these changes and provide historical segment data, and the information is furnished rather than filed, meaning it does not carry the same legal liabilities as a formally filed document under Section 18 of the Exchange Act. The new segment reporting aims to provide a clearer view of the company's performance across its different operational areas, potentially offering greater transparency into the services business's contribution and strategic direction. The retrospective application of the accounting standard will allow for consistent historical comparisons under the new presentation. While the immediate impact on financial performance isn't detailed in this 8-K, the organizational realignment suggests a strategic move to enhance market responsiveness and potentially drive future growth by better serving specific customer needs and market dynamics.

Key Highlights

  • 1Keysight Technologies announced an organizational change to align its services business with customers and end markets.
  • 2A new segment reporting structure has been implemented as part of this organizational change.
  • 3The company is retrospectively applying ASU 2017-07, 'Improving the Presentation of Net Periodic Pension Cost,' adopted November 1, 2018.
  • 4This 8-K filing includes a press release (Exhibit 99.1) with historical segment information.
  • 5The furnished information includes selected segment data for fiscal quarters and years spanning from FY2016 to FY2018.
  • 6The filing emphasizes that the information is furnished and not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

The primary goal of the organizational change is to better align Keysight's services business with its customers and the end markets it serves, aiming for improved customer focus and market responsiveness.

ASU 2017-07 is an accounting standard that improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. Keysight is applying it retrospectively to ensure a consistent and clearer presentation of its financial results under the new segment reporting structure.

This 8-K filing includes a press release with historical segment information for fiscal quarters and full fiscal years from 2016 through 2018. This data will help investors understand the performance of the new segment structure over time.

Yes, the company is implementing a new segment reporting structure as part of its organizational change. This, along with the accounting standard adoption, will lead to changes in how Keysight reports its financial performance across different segments in future filings.