Sunbeam 2004 Annual Report Download - page 57

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Jarden Corporation
Notes to Consolidated Financial Statements (cont’d)
December 31, 2004
As of December 31,
2004 2003
Assets employed in operations:
Branded consumables (1) ................................ $ 671,510 $310,451
Consumer solutions (2) .................................. 241,217 216,289
Plastic consumables (3) .................................. 56,402 62,623
Other ................................................. 13,159 13,867
Corporate (6) .......................................... 60,093 156,444
Total assets ......................................... $1,042,381 $759,674
(1) The USPC business, the Lehigh business and the Diamond Brands wood manufacturing operation
and branded product distribution business are included in the branded consumables segment effective
June 28, 2004, September 2, 2003 and February 1, 2003, respectively.
(2) The consumer solutions segment was created upon the purchase of Tilia, effective April 1, 2002.
(3) The Diamond Brands plastic manufacturing operation is included in the plastic consumables
segment effective February 1, 2003.
(4) Intersegment sales are recorded at cost plus an agreed upon intercompany profit on intersegment
sales.
(5) Unallocated corporate expenses are comprised of non-cash restricted stock charges of $32.4 million
and $21.8 million in 2004 and 2003, respectively.
(6) Corporate assets primarily include cash and cash equivalents, amounts relating to benefit plans,
deferred tax assets and corporate facilities and equipment.
Within the branded consumables segment are four product lines: kitchen products, home
improvement products, playing card products and other specialty products. Kitchen products include
food preparation kits, home canning and accessories, kitchen matches, plastic cutlery, straws and
toothpicks. Home improvement products include rope, cord and twine, storage and organizational
products for the home and garage and security door and fencing products. Playing card products
include children’s card games, collectible tins and playing card products. Other specialty products
include arts and crafts paintbrushes, book and advertising matches, institutional plastic cutlery and
sticks, laundry care products, lighters and fire starters, other craft items and other commercial products
and puzzles.
Net sales of these products in 2004, 2003 and 2002 were as follows:
Year ended December 31,
(in millions) 2004 2003 2002
Kitchen products ......................................... $205.8 $194.4 $109.1
Home improvement products .............................. 138.1 41.0 —
Playing cards products .................................... 80.5 ——
Other specialty products .................................. 48.7 22.5 2.1
Total branded consumables net sales .................... $473.1 $257.9 $111.2
One of the Company’s customers (a customer to both the branded consumables and consumer
solutions segments) accounted for 16.5%, 19.7% and 18.7% of its 2004, 2003 and 2002 net revenues,
respectively. No other customer accounted for more than 10% of the Company’s net revenues in any of
the years presented.
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