<SEC-DOCUMENT>0001193125-23-004592.txt : 20230210
<SEC-HEADER>0001193125-23-004592.hdr.sgml : 20230210
<ACCEPTANCE-DATETIME>20230109134828
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-004592
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOHAWK INDUSTRIES INC
		CENTRAL INDEX KEY:			0000851968
		STANDARD INDUSTRIAL CLASSIFICATION:	CARPETS AND RUGS [2273]
		IRS NUMBER:				521604305
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		160 S INDUSTRIAL BLVD
		STREET 2:		PO BOX 12069
		CITY:			CALHOUN
		STATE:			GA
		ZIP:			30701
		BUSINESS PHONE:		706-624-2032

	MAIL ADDRESS:	
		STREET 1:		P O BOX 12069
		CITY:			CALHOUN
		STATE:			GA
		ZIP:			30703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g444598g0109201657956.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">January&nbsp;9, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Manufacturing </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="4%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="padding-bottom:12pt ;">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:12pt ;"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Jeffrey Gordon</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Jean Yu</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Re:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mohawk Industries, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form <FONT
STYLE="white-space:nowrap">10-K</FONT> for Fiscal Year Ended December&nbsp;31, 2021</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed February&nbsp;23, 2022</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">8-K</FONT> Filed October&nbsp;27, 2022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">File <FONT STYLE="white-space:nowrap">No.&nbsp;001-13697&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Gordon and Ms.&nbsp;Yu: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the review by the Securities and Exchange Commission of the above referenced filings of Mohawk Industries, Inc. (the
&#147;Company&#148;), set forth below are the Company&#146;s responses to the Staff&#146;s comments contained in the letter dated December&nbsp;14, 2022, to James F. Brunk, Chief Financial Officer of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Staff&#146;s comments are set forth below in italics, followed by our responses to the comments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended December&nbsp;31, 2021 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;8. Consolidated Financial Statements and Supplementary Data (10)&nbsp;Long-Term Debt, page 64 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your credit facilities include certain affirmative and negative covenants that impose restrictions
on your financial and business operations. For each class of debt, please tell us whether you were in compliance with the covenants as of the reporting date.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response: </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company was in compliance with all
of the covenants included in its credit facilities, for each class of debt, as of the respective reporting date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>160 South Industrial
Blvd., S.W. &#149; P.O. Box 12089 &#149; Calhoun, Georgia 30703-7002 &#149; (706) <FONT STYLE="white-space:nowrap">624-2660</FONT> &#149; (800) <FONT STYLE="white-space:nowrap">241-4494</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Facsimile: (706) <FONT STYLE="white-space:nowrap">624-2483</FONT> &#149; <FONT STYLE="white-space:nowrap">E-Mail:</FONT>
dave_patton@mohawkind.com </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">January&nbsp;9, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Page: 2 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">8-K</FONT> Filed October&nbsp;27, 2022 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibit 99.1, page 1 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that you have reconciled EBITDA and Adjusted EBITDA to operating income (loss). Question 103.01 of
the updated <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Compliance and Disclosure Interpretations issued on April&nbsp;4, 2018, states EBITDA is defined as &#147;earnings before interest, taxes, depreciation and amortization,&#148; with
earnings intended to mean net income rather than operating income. In future filings, please reconcile EBITDA and Adjusted EBITA to net (loss) earnings including noncontrolling interests.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Response: </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company acknowledges the
Staff&#146;s comment and in future filings will reconcile EBITDA and Adjusted EBITDA to net (loss) earnings including noncontrolling interests in accordance with Question 103.01 of the updated <FONT STYLE="white-space:nowrap">Non-GAAP</FONT>
Compliance and Disclosure Interpretations issued on April&nbsp;4, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions or further comments regarding these responses, please
contact the undersigned by email at Dave_Patton@Mohawkind.com or by phone at (706) <FONT STYLE="white-space:nowrap">624-2660.</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ R. David Patton</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">R. David Patton,</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Vice President-Business Strategy and General Counsel</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:&nbsp;&nbsp;&nbsp;&nbsp;James&nbsp;F.&nbsp;Brunk,</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Chief Financial Officer </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">William W. Harkins, <FONT STYLE="white-space:nowrap">VP-Chief</FONT> Accounting Officer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">and Corporate Controller </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Paul J. Nozick, Alston&nbsp;&amp; Bird, LLP </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>160 South Industrial
Blvd., S.W. &#149; P.O. Box 12089 &#149; Calhoun, Georgia 30703-7002 &#149; (706) <FONT STYLE="white-space:nowrap">624-2660</FONT> &#149; (800) <FONT STYLE="white-space:nowrap">241-4494</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Facsimile: (706) <FONT STYLE="white-space:nowrap">624-2483</FONT> &#149; <FONT STYLE="white-space:nowrap">E-Mail:</FONT>
dave_patton@mohawkind.com </B></P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g444598g0109201657956.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g444598g0109201657956.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !6 (D# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W^BBB@ HH
MHH *XKQQXY308VL-/99-3=>3U$ /<^_H/Q/NWQQXYCT.)M/T]UDU-Q\S=1 #
MW/\ M>@_$^_C,DCRRO+*[22.VYG8Y+$]S[UA5JVT1]!E.4^UM6KKW>B[_P#
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MN3ZU=HHKJ6A\O*3DW*3NV%%%%!(4444 >"?%]?$F@ZO/=:!XCUB&WCM%O+F
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M!(!W?ZO$;/\ C]W%5-0UV>WUA].MH+=I4@695N)_*:XR6&V/C!(V\Y_O#ZT
M>)>,O"?C/7OBE'XILO"=X+2":W=(YKB%7<1[<YPYQG%>I^.;C5M8\ WEAI_A
MS49;S4K=X1"[0KY'.,N=^.G(QG/M74ZK>3V.E3WL$"2&&-I6CD<I\H4DC(!Y
MXJ(ZE-#X>FU2X@CW1V[7 BCD)! 7=C) Y_"@#R+X3:5XK\ Z5K%OJ'A*_FEN
M&66W\B: AF"D;6)?Y1TYY[UWGP\M+V+0&BUS1)K35'FDN;N6<1LLTDCLQ*E6
M/ &!SC  %:VG^('N]2M;.2*V)N;9K@-;7'F>6!MX<;1C.[@^QK3MK[[1?WMK
MY>W[*R+NSG=N4-^'6@#P7XF>"/$^M>/XM>\+>'+R!H53=,TD*;IHV.UU&_I@
M+UQTZ5U'Q&\(:K\1O"^@W+:3+8:Q!=I%<0R,C&.-\"1@5)!4'!]< \5Z%I&N
M/JKJ1]A1&+CRUN=THVDCE=OMZ\4FIZY-::I]@MXK8S>2)D6XG\HS\D;(^,$C
M'.>FY?7@ T;73K6STJ'3(H@+2* 0+&>FP+MQ^5>??"7X?R>"I_$4ES$5>:],
M-J['):V3E&_'<<_[M>E1L7B1F0HS*"5;JOMQ5.[U(6NIZ=9>46^V-(N_=C9M
M0MT[YQB@#RWXVZ%XB\7VMCI>B:!=W M9S*]R9(DC;*XPN7R>O.0.G>M7PYHD
MUU\)E\,>)O#%^#:VXB>)6B8RG<<-$0_##@\XQ[UV:Z\O_"33:/);E%6.,QW!
M?(=V#'9CL=J$@]\'TY8GB(/X6@UH6CEIU3R[=6!+.[!57/U(Y[4 >'_#KP[\
M1? 'B626+P]=W&BW#[;B SPAF0'Y7 WX#@=L\\CW'O/]JS?] C4/RC_^+I]I
M<:D;MH+ZSB1#'O2>"4LF<X*D$ @\Y!Z'GIBK] %&VTT6VKW]_P":6-VL2E-O
MW=@(Z]\YK%F\&QS:38V8O6CFM;@2^<L8_>)YPE,9&>A*KSV(!]J** -74--N
M+C4[*_MKB.*6VCECVRQ%U8/M]&&,;/UI+?1572KRSNYWN'OC(;F4#9N+C:<#
ML N .O0=:** (+31KQ;JPDOKR*9-/1E@$4)0LQ79N8[CSMR,# ^;/I1K&C7>
MI_:8A=P&TN8A&T-Q;^9Y1Y!=#D<D$<'/(!]:** +UQIXGT6731*X62W,'FO\
MS<KMR?4]Z2XTX3Z%+I?FE1);&W\S;TRNW.*** (+;0H+34+*[@*1M;VKVSA(
MPOF@E""<>FPX_P!XU:MK$6]_>W7F%OM3(VW'W=JA?QZ444 4]*TJYTQ8X?.M
M9(49CD6Y60@DG[V['?TINKZ1=ZBTZ)=0&UN(?*>WNK?S50\_.O(YP>0<C@=.
M<E% %S3;>:TA-L\PEAA"1PL1\^T(H.X]R3DY]Z2[TT76IZ?>^:5-FSL$VYW[
MD*]>V,YHHH K3:#%<7FH7$DS?Z6L(7:,&%H\E7!]<D'\*BA\.^7X3M]%:\8R
M0)'LNE0*?,1@ROMZ?> ./PHHH L16>JF62>XU&+S/+\N*.*$B)3G)=E+98\
+=1@9]36I110!_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
