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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) April 19, 1999
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CASE CREDIT CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
33-80775-01 76-0394710
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(Commission File Number) (I.R.S. Employer Identification No.)
233 Lake Avenue, Racine, Wisconsin 53403
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(Address of Principal Executive Offices) (Zip Code)
(414) 636-6011
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On April 19, 1999, Case Capital Corporation announced its unaudited
financial results for the quarter ended March 31, 1999. This announcement is
filed as an exhibit hereto and is hereby incorporated by reference. The
financial services business of Case Corporation is provided through Case Capital
Corporation, including its wholly owned subsidiary Case Credit Corporation and
their subsidiaries and joint ventures (collectively, "Case Capital").
The following tables summarize the earnings and financial position of Case
Capital and consolidated subsidiaries as of March 31, 1999 and for the three
months ended March 31, 1999.
SUMMARY INCOME STATEMENT DATA
(Millions)
(Unaudited)
Three Months Ended
March 31
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1999 1998
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Revenues
Interest income and other $109 $ 76
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Total 109 76
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Costs and Expenses
Selling, general and administrative 17 9
Interest expense 45 29
Other, net 16 8
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Total 78 46
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Income before taxes 31 30
Income tax provision 11 11
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Net Income $ 20 $ 19
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Form 8-K page 2
SUMMARY BALANCE SHEET DATA
(Millions)
(Unaudited)
March 31
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1999 1998
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Assets
Cash and cash equivalents $ 28 $ 27
Accounts, notes receivable and other - net 2,722 1,989
Property, plant and equipment - net 3 3
Equipment on operating leases - net 495 208
Other assets 276 126
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Total $3,524 $2,353
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Liabilities and Equity
Current maturities of long-term debt $ -- $ --
Short-term debt 256 884
Accounts payable and other accrued liabilities 77 49
Long-term debt 2,610 1,014
Other liabilities 99 28
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Total Liabilities 3,042 1,975
Equity 482 378
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Total $3,524 $2,353
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Form 8-K page 3
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit
No. Document Description
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99 Press Release of Case Capital Corporation dated April 19, 1999.
Form 8-K page 4
SIGNATURES
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.
CASE CREDIT CORPORATION
Dated: April 19, 1999 By: /s/ Kevin J. Hallagan
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Kevin J. Hallagan
Vice President and Secretary
Form 8-K page 5
INDEX TO EXHIBITS
Exhibit
No. Document Description
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99 Press release dated April 19, 1999 of Case Capital Corporation.
Form 8-K page 6