Sunbeam 2006 Annual Report Download - page 84

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Total
Branded Consumer Outdoor Process Intercompany Operating Corporate/
Consumables Solutions Solutions Solutions Eliminations Segments Unallocated Consolidated
Year ended December 31, 2005 (Reclassified)
Net sales $685.0$1,518.3$820.7$233.6$(68.5)$3,189.1$—$3,189.1
Segment earnings (loss) 95.3 190.277.029.3.—391.8(31.8)360.0
Adjustments to reconcile to reported
operating earnings (loss):
Fair value adjustment
to inventory (0.2)(6.0)— — .—(6.2)(16.2)(22.4)
Reorganization costs (3.3)(20.2)(2.9)— .—(26.4)(2.7)(29.1)
Impairment/write-off
of assets — (1.6)(0.9)— .—(2.5).—(2.5)
Stock-based compensation — —— — .—.— (62.4) (62.4)
Depreciation
and amortization (10.6) (20.0) (17.3) (9.3).— (57.2) (0.4) (57.6)
Operating earnings (loss) $ 81.2$142.4$55.9$20.0$.— $ 299.5$(113.5) $ 186.0
Total assets $787.1$1,748.2$655.5$74.3$.—$3,265.1$259.5$3,524.6
Total
Branded Consumer Outdoor Process Intercompany Operating Corporate/
Consumables Solutions Solutions Solutions Eliminations Segments Unallocated Consolidated
Year ended December 31, 2004 (Reclassified)
Net sales $473.1$222.2$— $195.6$(52.3)$838.6$—$838.6
Segment earnings (loss) 87.443.2—27.2—157.8(10.4)147.4
Adjustments to reconcile to reported
operating earnings (loss):
Stock-based compensation — — — — — — (32.2)(32.2)
Depreciation
and amortization (6.3)(3.4)— (9.3)—(19.0)(0.2)(19.2)
Operating earnings (loss) $ 81.1$39.8$— $ 17.9$— $138.8$(42.8)$96.0
(a) The United States Playing Card Company business is included in the Branded consumables segment effective June 28,2004,the date of its acquisition.
(b) The Consumer solutions business, acquired with the acquisition of American Household, Inc. (the “AHI Acquisition”), is included in the Consumer solutions
segment effective January 24,2005,and The Holmes Group business is included in the Consumer solutions segment effective July 18,2005,the date of its
acquisition.
(c) The Outdoor solutions segment was created upon the purchase of the Coleman business with the AHI Acquisition, effective January 24,2005.
(d) Intersegment sales are recorded at cost plus an agreed upon profit on sales.
(e) For the year ended December 31,2006,unallocated costs include a net reversal of $0.5million of reorganization and acquisition-related integration costs and
$23 million of stock-based compensation costs related to the issuance of stock options and restricted shares of the Company’s common stock to employees and
Directors of the Company.
For the year ended December 31,2005,unallocated costs include $2.7 million (see Note 16)of reorganization and acquisition-related integration costs, and
for the years ended December 31,2005 and 2004,$62.4 and $32.2 million, respectively, of non-cash compensation related to the issuance of stock options
and restricted shares of Company common stock to employees and Directors of the Company.
Notes to Consolidated Financial Statements
Jarden Corporation 2006 Annual Report
82