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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2010 (Dollars in millions, except per share data and unless otherwise indicated)
16. Reorganization and Acquisition-Related Integration Costs
The Company did not incur any reorganization and acquisition-related integration costs (collectively, “reorganization costs”) in 2010.
Reorganization costs for 2009 and 2008 are as follows:
Capitalized Reorganization Costs
In connection with the acquisition of K2 Inc. (“K2”) in 2007, management approved and initiated plans to restructure the operations
of K2. These plans were contemplated at the time of this acquisition and include in part, the elimination of certain duplicative
functions and vacating redundant facilities in order to reduce the combined cost structure of the Company. The capitalized costs
incurred during 2008, primarily relate to workforce reductions associated with the elimination of duplicative functions and other exit
costs resulting from the K2 acquisition. These costs were accrued within the Outdoor Solutions segment.
2009
(In millions)
Employee
Terminations
Other
Charges Impairment Total
Charged to Results of Operations:
Outdoor Solutions $ 23.5 $ 20.8 $ 4.2 $ 48.5
Consumer Solutions 2.9 0.9 — 3.8
$ 26.4 $ 21.7 $ 4.2 $ 52.3
2008
(In millions)
Employee
Terminations
Other
Charges Impairment Total
Charged to Results of Operations:
Outdoor Solutions $ 14.7 $ 17.9 $ — $ 32.6
Branded Consumables 7.4 3.3 — 10.7
Process Solutions 3.6 1.6 3.7 8.9
Corporate 4.1 3.5 — 7.6
Subtotal 29.8 26.3 3.7 59.8
Capitalized as a Cost of Acquisition:
Outdoor Solutions 2.5 3.5 — 6.0
Corporate 0.4 — — 0.4
$ 32.7 $ 29.8 $ 3.7 $ 66.2
59