Graco 2012 Annual Report Download - page 25

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19
(2) 2010, 2009 and 2008 Statement of Operations information has been adjusted to reclassify the results of operations of the hand torch and solder business
to discontinued operations.
(3) Restructuring costs include asset impairment charges, employee severance and termination benefits, employee relocation costs, and costs associated
with exited contractual commitments and other restructuring costs.
(4) Income (loss) from discontinued operations, net of tax, attributable to noncontrolling interests was not material.
(5) Working capital is defined as Current Assets less Current Liabilities.
Acquisitions of Businesses
2012 to 2009
No significant acquisitions occurred in 2012, 2011, 2010 or 2009.
2008
On April 1, 2008, the Company acquired 100% of the outstanding limited liability company interests of Technical Concepts
Holdings, LLC (“Technical Concepts”) for $452.7 million, which includes transaction costs and the repayment of Technical
Concepts’ outstanding debt obligations at closing. Technical Concepts provides touch-free and automated restroom hygiene systems
in the away-from-home washroom category. The Technical Concepts acquisition gives the Company’s Rubbermaid Commercial
Products business an entry into the away-from-home washroom market and fits within the Company’s strategy of leveraging its
existing sales and marketing capabilities across additional product categories. In addition, with approximately 40% of its sales
outside the U.S., Technical Concepts increased the global footprint of the Company’s Rubbermaid Commercial Products business.
The acquisition of Technical Concepts was accounted for using the purchase method of accounting.
On April 1, 2008, the Company acquired substantially all of the assets of Aprica Childcare Institute Aprica Kassai, Inc. (“Aprica”),
a maker of strollers, car seats and other children’s products, headquartered in Osaka, Japan. The Company acquired Aprica’s assets
for $145.7 million, which includes transaction costs and the repayment of Aprica’s outstanding debt obligations at closing. Aprica
is a Japanese brand of premium strollers, car seats and other related juvenile products. The acquisition provides the opportunity
for the Company’s Baby & Parenting business to broaden its presence worldwide, including expanding the scope of Aprica’s sales
outside Asia. The acquisition of Aprica was accounted for using the purchase method of accounting.