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AVP Avon Products

 

 

UNITED STATES
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): October 8, 2020

 

Avon Products, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

New York1-488113-0544597
(State or Other Jurisdiction of
Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification Number)
   
 

Building 6, Chiswick Park

London W4 5HR

United Kingdom

 
(Address of principal executive offices)
 
 +44-1604-232425 
(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Exchange Act:

 

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
NoneNoneNone

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

INFORMATION TO BE INCLUDED IN THE REPORT

 

Item 8.01 Other Events.

 

Avon Products, Inc., or “Avon”, has identified an immaterial classification error in the Consolidated Statement of Cash Flows relating to the year ended December 31, 2019 with respect to cash flows from the settlement of derivative contracts. Avon’s accounting policy, compliant with US GAAP, is to classify derivative cash flows as operating, investing or financing consistent with the nature of the underlying hedged item.  However, Avon has identified that cash flows relating to derivative contracts that economically hedge foreign exchange gains and losses on intercompany loans have been incorrectly classified as operating activities rather than financing activities. Avon will correct this reclassification error through a revision in future filings.

 

 Year ended December 31, 2019
 As reportedAs revisedAdjustment
  (in millions of U.S.$) 
Net cash provided by operating activities of continuing operations94.356.9-37.4
Net cash provided by investing activities of continuing operations50.250.2      0
Net cash provided by financing activities of continuing operations   1.138.5 37.4

 

 

 

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.

 

AVON PRODUCTS, INC.
(Registrant)
 
 
By:/s/ Ginny Edwards
 Name: Ginny Edwards
 Title:   VP, General Counsel and Corporate Secretary               

  

Date: October 8, 2020