Graco 2005 Annual Report Download - page 70

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(2) The loss on sale of businesses relates primarily to the sale of the Cosmolab business and the German
picture frames business. On March 27, 2003, the Company sold its Cosmolab business, a division of
the Other segment, and recorded a non-cash loss of $21.2 million. On December 31, 2003, the
Company also sold its German frames business, a division of the Home Fashions segment, and
recognized a pre-tax loss of $9.2 million. Neither the Cosmolab business nor the German frames
business is included in discontinued operations for Ñnancial statement purposes.
(3) See Footnote 10 for further information regarding debt extinguishment.
FOOTNOTE 20
Industry Segment Information
The Company's reporting segments reÖect the Company's focus on building large consumer brands,
promoting organizational integration, achieving operating eÇciencies and aligning the businesses with the
Company's strategic account management strategy. The Company reports its results in Ñve reportable
segments as follows:
Segment Description of Products
Cleaning & Organization ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Material handling, cleaning, refuse, indoor/outdoor
organization, home storage, food storage
OÇce Products ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ballpoint/roller ball pens, markers, highlighters,
pencils, correction Öuids, oÇce products, art
supplies, on-demand labeling products
Tools & Hardware ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Hand tools, power tool accessories, manual paint
applicators, cabinet, window and convenience
hardware, propane torches, solder
Home FashionsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Drapery hardware, window treatments
Other ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Operating segments that do not meet aggregation
criteria, including aluminum and stainless steel
cookware, hair care accessory products, infant and
juvenile products, including toys, high chairs, car
seats, strollers, and play yards
The Company's segment results are as follows as of December 31, (in millions):
2005 2004 2003
Net Sales(1)
Cleaning & OrganizationÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $1,614.6 $1,702.7 $1,848.6
OÇce ProductsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,713.3 1,686.2 1,681.2
Tools & Hardware ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,260.3 1,218.7 1,199.7
Home Fashions ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 824.0 906.8 901.0
Other ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 930.3 965.4 984.3
$6,342.5 $6,479.8 $6,614.8
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