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YORK INTERNATIONAL TO IMPLEMENT ACCOUNTING RULES

 YORK, Pa., Dec. 16 /PRNewswire/ -- York International Corporation (NYSE: YRK) announced today that it will implement Statement of Financial Accounting Standards (SFAS) No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," and Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes," in the first quarter of 1993.
 The adoption of SFAS No. 106 will result in a one-time charge of approximately $52 million, after tax. This one-time charge represents the company's cumulative effect of the accounting change. In addition to this one-time charge, the company's ongoing charge for 1993, will be approximately $8.9 million (approximately $5.3 million or $0.14 per share after tax). The cumulative effect of the adoption of SFAS 109 is currently estimated to be a one time charge of approximately $1 million to $3 million, depending upon the final determination of the company's 1992 tax liability. Neither of these accounting changes will affect the company's cash flows.
 York International is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration products. York is the largest independent supplier of HVACR products in the United States and a leading competitor in the industry internationally. The company's products are sold in more than 100 countries and York has over 12,000 employees worldwide.
 /delval/
 -0- 12/16/92
 /CONTACT: Helen S. Marsteller of York International, 717-771-7451/


CO: York International Corporation ST: Pennsylvania IN: SU: ACC

CC -- PH021 -- 7895 12/16/92 16:53 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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