<SEC-DOCUMENT>0001193125-18-048167.txt : 20180323
<SEC-HEADER>0001193125-18-048167.hdr.sgml : 20180323
<ACCEPTANCE-DATETIME>20180216121402
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-18-048167
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20180216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SKYLINE CORP
		CENTRAL INDEX KEY:			0000090896
		STANDARD INDUSTRIAL CLASSIFICATION:	MOBILE HOMES [2451]
		IRS NUMBER:				351038277
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2520 BY-PASS RD
		STREET 2:		P O BOX 743
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46515
		BUSINESS PHONE:		5742946521

	MAIL ADDRESS:	
		STREET 1:		P O BOX 743
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46515
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><B>Skyline Corporation</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">P.O. Box 743 (46515-0743)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">2520 ByPass Road</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Elkhart, Indiana 46514-1584</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL">(574) <FONT STYLE="white-space:nowrap">294-6521</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">February&nbsp;16, 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Via EDGAR </U></I></B></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">Office of Manufacturing and Construction </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn:
John Cash, Accounting Branch Chief </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </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>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Skyline Corporation </B></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended May&nbsp;31, 2017 </B></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"><B>Filed August&nbsp;11, 2017 </B></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;1-04714</FONT> </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Cash: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have received your letter dated February&nbsp;2, 2018 detailing your office&#146;s review of the above-referenced filings. On behalf of
Skyline Corporation (&#147;<I>Skyline</I>&#148; or the &#147;<I>Company</I>&#148;), below are our responses to those comments. For your convenience, I have reproduced your comments and requests for information in bold below followed by our responses
in regular type. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </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">10-K</FONT> for the Fiscal Year Ended May&nbsp;31, 2017 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;6. Selected Financial Data, page 10
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given your status as an accelerated filer, please revise future filings to provide selected financial
data as required by Item 301 of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the
Company respectfully submits that, despite the fact Skyline now has the status of an accelerated filer, the Company was able to include scaled disclosure as a &#147;smaller reporting company,&#148; as defined in Rule
<FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934, as amended, in the Company&#146;s Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended May&nbsp;31, 2017. Skyline has determined that as of
the end of its second fiscal quarter in fiscal year 2017, its public float exceeded $75&nbsp;million and that the Company would be required to transition from a smaller reporting company to an accelerated filer status in fiscal year 2018. However,
pursuant to Exchange Act Compliance and Disclosure Interpretation Q&amp;A 104.13, Skyline is permitted to use the scaled disclosure for a smaller reporting company in its Form <FONT STYLE="white-space:nowrap">10-K</FONT> covering the year in which
it crossed the accelerated filer threshold. In preparing the Form <FONT STYLE="white-space:nowrap">10-K</FONT> for fiscal year 2017, the Company in fact relied on this transition relief and utilized the scaled disclosure requirements for a smaller
reporting company, which do not require the inclusion of selected financial data under Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> Item 301. Therefore, Skyline respectfully submits it was not required to provide such disclosure in its
Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended May&nbsp;31, 2017. That said, the Company will include selected financial data disclosure under Reg. <FONT STYLE="white-space:nowrap">S-K</FONT> Item 301 in future filings
where such disclosure is required. </P>

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 <P STYLE="margin-top:0pt; 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">February&nbsp;16, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,
page&nbsp;11 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please revise future annual filings to disclose a table of contractual commitments, as
applicable. Refer to Item 303(A)(5) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s
comment, I refer you to the response to comment #1 above. Because Skyline utilized the scaled disclosure requirements available for smaller reporting companies for its Form <FONT STYLE="white-space:nowrap">10-K</FONT> for fiscal year 2017, the
Company respectfully submits it was not required to provide a table of contractual commitments under Reg. <FONT STYLE="white-space:nowrap">S-K</FONT> Item 303(a)(5) because such disclosure is not required of a smaller reporting company. That said,
the Company will include a table of contractual commitments under Reg. <FONT STYLE="white-space:nowrap">S-K</FONT> Item 303(a)(5) in future filings where such disclosure is required. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;8. Financial Statements and Supplementary Data, page 22 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We note that your consolidated income statements, statements of cash flows, and statements of shareholders&#146;
equity only cover a <FONT STYLE="white-space:nowrap">two-year</FONT> period. Please amend your <FONT STYLE="white-space:nowrap">10-K:</FONT> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><B>To provide these consolidated financial statements for the <U>three-year</U> fiscal period ended May&nbsp;31, 2017. Refer to Rules <FONT STYLE="white-space:nowrap">3-02(a)</FONT> and
<FONT STYLE="white-space:nowrap">3-04</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X;</FONT> </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>To revise MD&amp;A by disclosing the results of operations for fiscal 2016 as compared to fiscal 2015. Refer to Item 303, Instructions to paragraph 303(A)(1), of Regulation
<FONT STYLE="white-space:nowrap">S-K;</FONT> and </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><B>To have your independent registered public accounting firm revise its report to include the additional period that was omitted. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>We remind you that your amendment should include the entire &#147;Item&#148; that has been amended, as well as certifications that are
currently dated and reader to the Form <FONT STYLE="white-space:nowrap">10-K/A.</FONT> Alternatively, please tell us how you determined that your current presentation is appropriate. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, I refer you to the response to comment #1 above. Because Skyline utilized the scaled disclosure
requirements available for smaller reporting companies for its Form <FONT STYLE="white-space:nowrap">10-K</FONT> for fiscal year 2017, the Company respectfully submits it was not required to provide the additional financial statement information and
related disclosure referenced in comment&nbsp;#3 </P>

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 <P STYLE="margin-top:0pt; 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">February&nbsp;16, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
above, but rather was permitted to provide financial statements in accordance with Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> Article 8 and corresponding MD&amp;A disclosure. That
said, the Company will provide in future filings the financial statements required by Article&nbsp;3 of <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-X,</FONT> and corresponding MD&amp;A disclosure under Reg.
<FONT STYLE="white-space:nowrap">S-K</FONT> Item 303(a), where such disclosure is required. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Note 14. Restructuring Activities, page 40 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to the cessation of operations at the Elkhart, Indiana and Mansfield, Texas production facilities, we
have the following comments: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><B>Your disclosure states that you did not incur any <FONT STYLE="white-space:nowrap">one-time</FONT> termination agreements. Please tell us whether this statement encompasses
<FONT STYLE="white-space:nowrap">one-time</FONT> employee termination benefits. Refer to ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">420-10-50.</FONT></FONT> </B></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"><B>Please tell us if and how you accounted for any asset impairment losses to your property, plant and equipment at the time you determined you were going to suspend operations at both facilities. If so, please tell us
how much you incurred in asset impairment charges and where this is reflected in your consolidated income statements. Refer to ASC <FONT STYLE="white-space:nowrap">360-10</FONT> and ASC <FONT STYLE="white-space:nowrap">820-10</FONT> for guidance.
</B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Skyline&#146;s disclosure of no <FONT STYLE="white-space:nowrap">one-time</FONT> termination agreements includes <FONT
STYLE="white-space:nowrap">one-time</FONT> termination benefits due to there being no termination-related payments paid to employees at the Elkhart, Indiana and Mansfield, Texas facilities. When the Company decided to suspend operations at both
facilities, a determination was made that certain equipment should be sold or disposed. The loss associated with the loss or disposal of this equipment was $222,000. As referenced in Note 4, Net Gain on Sale of Property, Plant and Equipment on page
33, this loss was offset against the $1,502,000 gain on the sale of the real property and equipment in Mansfield. The net gain, $1,280,000, is disclosed as Net gain on sale of property, plant and equipment in the Consolidated Income Statements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;9A. Controls and Procedures, page 42 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Evaluation of Disclosure Controls and Procedures, page 42 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It appears that you inadvertently stated in this section that &#147;the Corporation&#146;s internal control over
financial reporting was not effective as of May&nbsp;31, 2017.&#148; Please revise future annual filings to specifically state that &#147;disclosure controls and procedures&#148; are effective or not effective. Refer to Item 307 of Regulation <FONT
STYLE="white-space:nowrap">S-K.</FONT> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In accordance with Item 307 of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> future
annual filings will state whether disclosure controls and procedures are effective or not effective. </P>

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 <P STYLE="margin-top:0pt; 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">February&nbsp;16, 2018 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Report of Internal Control Over Financial Reporting, page 42 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please revise future annual filings to clearly disclose, in this section, management&#146;s conclusion as to whether
internal control over financial reporting is effective or not effective. Please refer to Item 308(a)&nbsp;(3) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In accordance with Item 308(a)&nbsp;(3) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> future annual filings will disclose
management&#146;s conclusion whether internal control over financial report is effective or not effective. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of the Company, I hereby acknowledge in connection with the responses contained in this letter that: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top">the Company is responsible for the adequacy and accuracy of the disclosure in the filing; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We appreciate your review of our responses to your comments. Should you have additional comments or questions, please contact me at (574) <FONT
STYLE="white-space:nowrap">350-2275.</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Sincerely,</TD></TR>
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<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/ Jon S. Pilarski</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jon S. Pilarski</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cc:&nbsp;&nbsp;&nbsp;&nbsp;David P. Hooper, Esq </P>
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