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): May 3, 2002
SMITHFIELD FOODS, INC.
(Exact name of registrant as specified in its charter)
VIRGINIA 0-2258 52-0845861
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
200 COMMERCE STREET
SMITHFIELD, VIRGINIA 23430
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code (757) 365-3000
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
On May 3, 2002, Smithfield Foods, Inc. (the "Registrant") dismissed its
independent public accountants, Arthur Andersen LLP ("Andersen").
Also on May 3, 2002, the Registrant retained Ernst & Young LLP ("E&Y") as its
new independent public accountants. The change in accountants was ratified and
approved by the Board of Directors of the Registrant, upon the recommendation of
the Board's Audit Committee. E&Y will audit the financial statements of the
Registrant for the fiscal year ending April 28, 2002.
During the Registrant's two most recent fiscal years, and the subsequent interim
periods through May 3, 2002, there were no disagreements between the Registrant
and Andersen on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to Andersen's satisfaction, would have caused Andersen to make
reference to the subject matter of the disagreement in connection with its
reports on the Registrant's financial statements for such periods.
None of the reportable events described under Item 304(a)(1)(v) of Regulation
S-K occurred during the Registrant's two most recent fiscal years ended April
28, 2002, or during any subsequent interim period through May 3, 2002.
The audit reports issued by Andersen on the consolidated financial statements of
the Registrant as of and for the fiscal years ended April 30, 2000 and April 29,
2001 did not contain any adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope or accounting principles.
The Registrant provided Andersen with a copy of the foregoing disclosures, and a
letter from Andersen confirming its agreement with these disclosures is attached
as Exhibit 16.1 to this report.
During the Registrant's two most recent fiscal years ended April 28, 2002 and
through May 3, 2002, the Registrant did not consult with E&Y with respect to the
application of accounting principles to a specified transaction or regarding any
of the other matters or events set forth in Item 304(a)(2)(i) and (ii) of
Regulation S-K.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
Exhibit
Number Description
------- -----------
16.1 Letter of Arthur Andersen LLP regarding change in
certifying accountant
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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 thereunto duly authorized.
SMITHFIELD FOODS, INC.
(Registrant)
By: /s/ DANIEL G. STEVENS
----------------------------------
(Signature)
Daniel G. Stevens
Vice President and Chief
Financial Officer
Dated: May 10, 2002
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