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) June 21, 2002
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Snap-on Incorporated
(Exact name of registrant as specified in its charter)
Delaware 1-7724 39-0622040
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation Number) Identification No.)
10801 Corporate Drive, Kenosha, Wisconsin 53158-1603
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (262) 656-5200
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Item 4. Changes in Registrant's Certifying Accountant.
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On June 14, 2002, the Board of Directors of Snap-on Incorporated ("Snap-on"),
upon recommendation of its Audit Committee, dismissed Arthur Andersen LLP
("Andersen") as its independent accountants and engaged Deloitte & Touche LLP as
its independent accountants for 2002.
Andersen's reports on Snap-on's consolidated financial statements for each of
the fiscal years ended December 29, 2001, and December 30, 2000, did not contain
an adverse opinion, disclaimer of opinion or qualification or modification as to
uncertainty, audit scope or accounting principles, except for noting a change in
accounting principles related to derivatives and accounting for pensions.
During the fiscal years ended December 29, 2001, and December 30, 2000, and the
subsequent interim period through June 21, 2002, there were no disagreements
with Andersen on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure which, if not resolved to
Andersen's satisfaction, would have caused Andersen to make reference to the
subject matter in connection with its reports. During the fiscal years ended
December 29, 2001, and December 30, 2000, and the subsequent interim period,
there were no reportable events as defined in Item 304(a)(1)(v) of Regulation
S-K.
Snap-on has provided Andersen with a copy of the above foregoing statements.
After reasonable efforts, Snap-on has been unable to obtain a letter confirming
or denying such statements from Andersen, as the engagement partner and senior
manager are no longer employed by Andersen.
During the two most recent fiscal years ended December 29, 2001, and December
30, 2000, and the subsequent interim period through June 21, 2002, Snap-on did
not consult with Deloitte & Touche LLP regarding any of the matters or events
set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
(99) Press release announcing appointment of Deloitte & Touche LLP as
Snap-on's independent accountant.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Snap-on
Incorporated has duly caused this report to be signed on its behalf by the
undersigned duly authorized person.
SNAP-ON INCORPORATED
Date: June 21, 2002 By: /s/ Blaine A. Metzger
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Blaine A. Metzger
Principal Accounting Officer,
Vice President and Controller
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EXHIBIT INDEX
Exhibit
Number Description
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(99) Press release announcing appointment of Deloitte & Touche LLP as
Snap-on's independent accountant.
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