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Table\ue000 of\ue000 Contents
UNITED\ue000 STATES
SECURITIES\ue000 AND\ue000 EXCHANGE\ue000 COMMISSION
Washington,\ue000 D.C.\ue000 20549
\ue000
FORM\ue000 10-K
\ue000(Mark\ue000 One)
\ue000\ue000 \ue000
\ue000\ue000 \ue000
x
\ue000\ue000
ANNUAL\ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE
SECURITIES\ue000 EXCHANGE\ue000 ACT\ue000 OF\ue000 1934
\ue000\ue000
\ue000
\ue000
For\ue000 the\ue000 fiscal\ue000 year\ue000 ended\ue000 December\ue000 31,\ue000 2008
\ue000
OR
\ue000
\u00ae
\ue000\ue000
TRANSITION\ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE
SECURITIES\ue000 EXCHANGE\ue000 ACT\ue000 OF\ue000 1934
\ue000\ue000
\ue000
\ue000
For\ue000 the\ue000 transition\ue000 period\ue000 from\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 to\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 .
\ue000
Commission\ue000 File\ue000 Number\ue000 001-07845
\ue000
LEGGETT\ue000 &\ue000 PLATT,\ue000 INCORPORATED
(Exact\ue000 name\ue000 of\ue000 registrant\ue000 as\ue000 specified\ue000 in\ue000 its\ue000 charter)
\ue000
Missouri
\ue000\ue000
44-0324630
(State\ue000 or\ue000 other\ue000 jurisdiction\ue000 of
incorporation\ue000 or\ue000 organization)
\ue000\ue000
(I.R.S.\ue000 employer
Identification\ue000 No.)
No.\ue000 1\ue000 Leggett\ue000 Road
Carthage,\ue000 Missouri
\ue000\ue000
64836
(Address\ue000 of\ue000 principal\ue000 executive\ue000 offices)
\ue000\ue000
(Zip\ue000 code)
\ue000
Registrant\u2019s\ue000 telephone\ue000 number,\ue000 including\ue000 area\ue000 code:\ue000 (417)\ue000 358-8131
\ue000
SECURITIES\ue000 REGISTERED\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 12(b)\ue000 OF\ue000 THE\ue000 ACT:
\ue000
Title\ue000 of\ue000 Each\ue000 Class
\ue000
Name\ue000 of\ue000 each\ue000 exchange\ue000 on
which\ue000 registered
Common\ue000 Stock,\ue000 $.01\ue000 par\ue000 value
\ue000
New\ue000 York\ue000 Stock\ue000 Exchange
\ue000
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 well-known\ue000 seasoned\ue000 issuer,\ue000 as\ue000 defined\ue000 in\ue000 Rule\ue000 405\ue000 of\ue000 the\ue000 Securities\ue000 Act.\ue000\ue000\ue000\ue000 Yes\ue000\ue000x\ue000\ue000\ue000\ue000 No\ue000 \ue000\u00ae
\ue000
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 not\ue000 required\ue000 to\ue000 file\ue000 reports\ue000 pursuant\ue000 to\ue000 Section\ue000 13\ue000 or\ue000 Section\ue000 15(d)\ue000 of\ue000 the\ue000 Act.\ue000\ue000\ue000\ue000 Yes\ue000 \ue000\u00ae\ue000\ue000\ue000\ue000 No\ue000 \ue000x
\ue000

Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 (1)\ue000 has\ue000 filed\ue000 all\ue000 reports\ue000 required\ue000 to\ue000 be\ue000 filed\ue000 by\ue000 Section\ue000 13\ue000 or\ue000 15(d)\ue000 of\ue000 the\ue000 Securities\ue000 Exchange Act\ue000 of\ue000 1934\ue000 during\ue000 the\ue000 preceding\ue000 12\ue000 months\ue000 (or\ue000 for\ue000 such\ue000 shorter\ue000 period\ue000 that\ue000 the\ue000 registrant\ue000 was\ue000 required\ue000 to\ue000 file\ue000 such\ue000 reports),\ue000 and\ue000 (2)\ue000 has\ue000 been subject\ue000 to\ue000 such\ue000 filing\ue000 requirements\ue000 for\ue000 the\ue000 past\ue000 90\ue000 days.\ue000\ue000\ue000\ue000 Yes\ue000 \ue000x\ue000\ue000\ue000\ue000 No\ue000 \ue000\u00ae

\ue000

Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 disclosure\ue000 of\ue000 delinquent\ue000 filers\ue000 pursuant\ue000 to\ue000 Item\ue000 405\ue000 of\ue000 Regulation\ue000 S-K\ue000 (\u00a7229.405\ue000 of\ue000 this\ue000 chapter)\ue000 is\ue000 not\ue000 contained herein,\ue000 and\ue000 will\ue000 not\ue000 be\ue000 contained,\ue000 to\ue000 the\ue000 best\ue000 of\ue000 registrant\u2019s\ue000 knowledge,\ue000 in\ue000 definitive\ue000 proxy\ue000 or\ue000 information\ue000 statements\ue000 incorporated\ue000 by\ue000 reference in\ue000 Part\ue000 III\ue000 of\ue000 this\ue000 Form\ue000 10-K\ue000 or\ue000 any\ue000 amendment\ue000 to\ue000 this\ue000 Form\ue000 10-K.\ue000\ue000\ue000\ue000x

\ue000

Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 large\ue000 accelerated\ue000 filer,\ue000 an\ue000 accelerated\ue000 filer,\ue000 a\ue000 non-accelerated\ue000 filer,\ue000 or\ue000 a\ue000 smaller\ue000 reporting
company.\ue000 See\ue000 the\ue000 definitions\ue000 of\ue000 \u201clarge\ue000 accelerated\ue000 filer,\u201d\ue000 \u201caccelerated\ue000 filer\u201d\ue000 and\ue000 \u201csmaller\ue000 reporting\ue000 company\u201d\ue000 in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Exchange
Act.\ue000 (Check\ue000 one):
Large\ue000 accelerated\ue000 filer\ue000\ue000\ue000\ue000x

\ue000Accelerated\ue000 filer\ue000\ue000\ue000\ue000\u00ae
Non-accelerated\ue000 filer\ue000\ue000\ue000\ue000\ue000\ue000\ue000\u00ae \ue000\ue000\ue000\ue000 (Do\ue000 not\ue000 check\ue000 if\ue000 a\ue000 smaller\ue000 reporting\ue000 company)
\ue000Smaller\ue000 reporting\ue000 company\ue000\ue000\ue000\ue000\u00ae
\ue000
Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 shell\ue000 company\ue000 (as\ue000 defined\ue000 in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Act).\ue000\ue000\ue000\ue000 Yes\ue000 \ue000\u00ae\ue000\ue000\ue000\ue000 No\ue000 \ue000x
\ue000
The\ue000 aggregate\ue000 market\ue000 value\ue000 of\ue000 the\ue000 voting\ue000 stock\ue000 held\ue000 by\ue000 non-affiliates\ue000 of\ue000 the\ue000 registrant\ue000 (based\ue000 on\ue000 the\ue000 closing\ue000 price\ue000 of\ue000 our\ue000 common\ue000 stock\ue000 on
the\ue000 New\ue000 York\ue000 Stock\ue000 Exchange)\ue000 on\ue000 June\ue000 30,\ue000 2008\ue000 was\ue000 approximately\ue000 $2,660,000,000.
\ue000
There\ue000 were\ue000 156,856,585\ue000 shares\ue000 of\ue000 the\ue000 Registrant\u2019s\ue000 common\ue000 stock\ue000 outstanding\ue000 as\ue000 of\ue000 February\ue000 15,\ue000 2009.
\ue000
DOCUMENTS\ue000 INCORPORATED\ue000 BY\ue000 REFERENCE
\ue000
Part\ue000 of\ue000 Item\ue000 10,\ue000 and\ue000 all\ue000 of\ue000 Items\ue000 11,\ue000 12,\ue000 13\ue000 and\ue000 14\ue000 of\ue000 Part\ue000 III\ue000 are\ue000 incorporated\ue000 by\ue000 reference\ue000 from\ue000 the\ue000 Company\u2019s\ue000 definitive\ue000 Proxy\ue000 Statement\ue000 for
the\ue000 Annual\ue000 Meeting\ue000 of\ue000 Shareholders\ue000 to\ue000 be\ue000 held\ue000 on\ue000 May\ue000 7,\ue000 2009.
\ue000
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Table\ue000 of\ue000 Contents

TABLE\ue000 OF\ue000 CONTENTS
LEGGETT\ue000 &\ue000 PLATT,\ue000 INCORPORATED\u2014FORM\ue000 10-K
FOR\ue000 THE\ue000 YEAR\ue000 ENDED\ue000 DECEMBER\ue000 31,\ue000 2008

\ue000
\ue000
\ue000\ue000
\ue000
\ue000\ue000
Page
Number
Forward-Looking\ue000 Statements
\ue000\ue000
1
PART\ue000 I
Item\ue000 1.
\ue000\ue000
Business
\ue000\ue000
3
Item\ue000 1A.
\ue000\ue000
Risk\ue000 Factors
\ue000\ue000
21
Item\ue000 1B.
\ue000\ue000
Unresolved\ue000 Staff\ue000 Comments
\ue000\ue000
24
Item\ue000 2.
\ue000\ue000
Properties
\ue000\ue000
24
Item\ue000 3.
\ue000\ue000
Legal\ue000 Proceedings
\ue000\ue000
26
Item\ue000 4.
\ue000\ue000
Submission\ue000 of\ue000 Matters\ue000 to\ue000 a\ue000 Vote\ue000 of\ue000 Security\ue000 Holders
\ue000\ue000
27
Supp.\ue000 Item.
\ue000\ue000
Executive\ue000 Officers\ue000 of\ue000 the\ue000 Registrant
\ue000\ue000
28
PART\ue000 II
Item\ue000 5.
\ue000\ue000
Market\ue000 for\ue000 Registrant\u2019s\ue000 Common\ue000 Equity,\ue000 Related\ue000 Stockholder\ue000 Matters\ue000 and\ue000 Issuer
Purchases\ue000 of\ue000 Equity\ue000 Securities
\ue000\ue000
30
Item\ue000 6.
\ue000\ue000
Selected\ue000 Financial\ue000 Data
\ue000\ue000
32
Item\ue000 7.
\ue000\ue000
Management\u2019s\ue000 Discussion\ue000 and\ue000 Analysis\ue000 of\ue000 Financial\ue000 Condition\ue000 and\ue000 Results\ue000 of
Operation
\ue000\ue000
33
Item\ue000 7A.
\ue000\ue000
Quantitative\ue000 and\ue000 Qualitative\ue000 Disclosures\ue000 About\ue000 Market\ue000 Risk
\ue000\ue000
68
Item\ue000 8.
\ue000\ue000
Financial\ue000 Statements\ue000 and\ue000 Supplementary\ue000 Data
\ue000\ue000
69
Item\ue000 9.
\ue000\ue000
Changes\ue000 in\ue000 and\ue000 Disagreements\ue000 With\ue000 Accountants\ue000 on\ue000 Accounting\ue000 and\ue000 Financial
Disclosure
\ue000\ue000
69
Item\ue000 9A.
\ue000\ue000
Controls\ue000 and\ue000 Procedures
\ue000\ue000
69
Item\ue000 9B.
\ue000\ue000
Other\ue000 Information
\ue000\ue000
70
PART\ue000III
Item\ue000 10.
\ue000\ue000
Directors,\ue000 Executive\ue000 Officers\ue000 and\ue000 Corporate\ue000 Governance
\ue000\ue000
71
Item\ue000 11.
\ue000\ue000
Executive\ue000 Compensation
\ue000\ue000
73
Item\ue000 12.
\ue000\ue000
Security\ue000 Ownership\ue000 of\ue000 Certain\ue000 Beneficial\ue000 Owners\ue000 and\ue000 Management\ue000 and\ue000 Related
Stockholder\ue000 Matters
\ue000\ue000
73
Item\ue000 13.
\ue000\ue000
Certain\ue000 Relationships\ue000 and\ue000 Related\ue000 Transactions,\ue000 and\ue000 Director\ue000 Independence
\ue000\ue000
73
Item\ue000 14.
\ue000\ue000
Principal\ue000 Accountant\ue000 Fees\ue000 and\ue000 Services
\ue000\ue000
73
PART\ue000 IV
Item\ue000 15.
\ue000\ue000
Exhibits,\ue000 Financial\ue000 Statement\ue000 Schedules
\ue000\ue000
74
Signatures
\ue000\ue000
129
Exhibit\ue000 Index
\ue000\ue000
131
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Table\ue000 of\ue000 Contents
Forward-Looking\ue000 Statements
\ue000

This\ue000 Annual\ue000 Report\ue000 on\ue000 Form\ue000 10-K\ue000 and\ue000 our\ue000 other\ue000 public\ue000 disclosures,\ue000 whether\ue000 written\ue000 or\ue000 oral,\ue000 may\ue000 contain\ue000 \u201cforward-looking\u201d\ue000 statements including,\ue000 but\ue000 not\ue000 limited\ue000 to:\ue000 projections\ue000 of\ue000 revenue,\ue000 income,\ue000 earnings,\ue000 capital\ue000 expenditures,\ue000 dividends,\ue000 capital\ue000 structure,\ue000 cash\ue000 flows\ue000 or\ue000 other financial\ue000 items;\ue000 possible\ue000 plans,\ue000 goals,\ue000 objectives,\ue000 prospects,\ue000 strategies\ue000 or\ue000 trends\ue000 concerning\ue000 future\ue000 operations;\ue000 statements\ue000 concerning\ue000 future economic\ue000 performance;\ue000 and\ue000 the\ue000 underlying\ue000 assumptions\ue000 relating\ue000 to\ue000 the\ue000 forward-looking\ue000 statements.\ue000 These\ue000 statements\ue000 are\ue000 identified\ue000 either\ue000 by the\ue000 context\ue000 in\ue000 which\ue000 they\ue000 appear\ue000 or\ue000 by\ue000 use\ue000 of\ue000 words\ue000 such\ue000 as\ue000 \u201canticipate,\u201d\ue000 \u201cbelieve,\u201d\ue000 \u201cestimate,\u201d\ue000 \u201cexpect,\u201d\ue000 \u201cintends,\u201d\ue000 \u201cmay,\u201d\ue000 \u201cplans,\u201d\ue000 \u201cshould\u201d or\ue000 the\ue000 like.\ue000 All\ue000 such\ue000 forward-looking\ue000 statements,\ue000 whether\ue000 written\ue000 or\ue000 oral,\ue000 and\ue000 whether\ue000 made\ue000 by\ue000 us\ue000 or\ue000 on\ue000 our\ue000 behalf,\ue000 are\ue000 expressly\ue000 qualified\ue000 by the\ue000 cautionary\ue000 statements\ue000 described\ue000 in\ue000 this\ue000 provision.

\ue000

Any\ue000 forward-looking\ue000 statement\ue000 reflects\ue000 only\ue000 the\ue000 beliefs\ue000 of\ue000 the\ue000 Company\ue000 or\ue000 its\ue000 management\ue000 at\ue000 the\ue000 time\ue000 the\ue000 statement\ue000 is\ue000 made.\ue000 Because\ue000 all
forward-looking\ue000 statements\ue000 deal\ue000 with\ue000 the\ue000 future,\ue000 they\ue000 are\ue000 subject\ue000 to\ue000 risks,\ue000 uncertainties\ue000 and\ue000 developments\ue000 which\ue000 might\ue000 cause\ue000 actual\ue000 events\ue000 or
results\ue000 to\ue000 differ\ue000 materially\ue000 from\ue000 those\ue000 envisioned\ue000 or\ue000 reflected\ue000 in\ue000 any\ue000 forward-looking\ue000 statement.\ue000 Moreover,\ue000 we\ue000 do\ue000 not\ue000 have,\ue000 and\ue000 do\ue000 not
undertake,\ue000 any\ue000 duty\ue000 to\ue000 update\ue000 or\ue000 revise\ue000 any\ue000 forward-looking\ue000 statement\ue000 to\ue000 reflect\ue000 events\ue000 or\ue000 circumstances\ue000 after\ue000 the\ue000 date\ue000 on\ue000 which\ue000 the\ue000 statement
was\ue000 made.\ue000 For\ue000 all\ue000 of\ue000 these\ue000 reasons,\ue000 forward-looking\ue000 statements\ue000 should\ue000 not\ue000 be\ue000 relied\ue000 upon\ue000 as\ue000 a\ue000 prediction\ue000 of\ue000 actual\ue000 future\ue000 events,\ue000 objectives,
strategies,\ue000 trends\ue000 or\ue000 results.

\ue000

It\ue000 is\ue000 not\ue000 possible\ue000 to\ue000 anticipate\ue000 and\ue000 list\ue000 all\ue000 risks,\ue000 uncertainties\ue000 and\ue000 developments\ue000 which\ue000 may\ue000 affect\ue000 the\ue000 future\ue000 operations\ue000 or\ue000 performance\ue000 of the\ue000 Company,\ue000 or\ue000 which\ue000 otherwise\ue000 may\ue000 cause\ue000 actual\ue000 events\ue000 or\ue000 results\ue000 to\ue000 differ\ue000 from\ue000 forward-looking\ue000 statements.\ue000 However,\ue000 some\ue000 of\ue000 these\ue000 risks and\ue000 uncertainties\ue000 include\ue000 the\ue000 following:

\ue000
\ue000
\u2022\ue000 our\ue000 ability\ue000 to\ue000 maintain\ue000 cash\ue000 flow\ue000 from\ue000 operations\ue000 and\ue000 adequate\ue000 liquidity\ue000 in\ue000 light\ue000 of\ue000 the\ue000 recent\ue000 distress\ue000 in\ue000 the\ue000 financial\ue000 markets\ue000 and
tightening\ue000 of\ue000 the\ue000 credit\ue000 markets\ue000 (and\ue000 the\ue000 related\ue000 impact\ue000 on\ue000 U.S.\ue000 and\ue000 global\ue000 economies\ue000 which\ue000 has\ue000 negatively\ue000 impacted\ue000 the\ue000 demand\ue000 for
our\ue000 products);
\ue000
\u2022\ue000 our\ue000 ability\ue000 to\ue000 maintain\ue000 current\ue000 credit\ue000 ratings\ue000 on\ue000 our\ue000 long-term\ue000 debt\ue000 and\ue000 commercial\ue000 paper;
\ue000
\u2022\ue000 factors\ue000 that\ue000 could\ue000 impact\ue000 raw\ue000 materials\ue000 and\ue000 other\ue000 costs,\ue000 including\ue000 the\ue000 availability\ue000 and\ue000 pricing\ue000 of\ue000 steel\ue000 rod\ue000 and\ue000 scrap\ue000 and\ue000 other\ue000 raw
materials,\ue000 the\ue000 availability\ue000 of\ue000 labor,\ue000 wage\ue000 rates\ue000 and\ue000 energy\ue000 costs;
\ue000
\u2022\ue000 our\ue000 ability\ue000 to\ue000 pass\ue000 along\ue000 raw\ue000 material\ue000 cost\ue000 increases\ue000 through\ue000 increased\ue000 selling\ue000 prices;
\ue000
\u2022\ue000 price\ue000 and\ue000 product\ue000 competition\ue000 from\ue000 foreign\ue000 (particularly\ue000 Asian)\ue000 and\ue000 domestic\ue000 competitors;
\ue000
\u2022\ue000 our\ue000 ability\ue000 to\ue000 improve\ue000 operations\ue000 and\ue000 realize\ue000 cost\ue000 savings\ue000 (including\ue000 our\ue000 ability\ue000 to\ue000 fix\ue000 under-performing\ue000 operations\ue000 pursuant\ue000 to\ue000 our
strategic\ue000 plan);
\ue000
1
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