Sunbeam 2007 Annual Report Download - page 73

JARDEN CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions, except per share data and unless otherwise indicated)
1. Business and Significant Accounting Policies
Business
Jarden Corporation and its subsidiaries (hereinafter referred to as the “Company” or “Jarden”) is a leading
provider of niche consumer products. Jarden’s three primary business segments, Outdoor Solutions, Consumer
Solutions and Branded Consumables manufacture or source, market and distribute a number of well recognized
brands, including: Outdoor Solutions: Abu Garcia®, Adio®, Berkley®, Campingaz®, Coleman®, Fenwick®,
Gulp!®,JT
®,K2 ®, Marker®, Marmot®, Mitchell®, Penn®, Planet Earth®, Rawlings®, Shakespeare®, Sevylor®,
Stearns®, Stren®, Trilene®, Ugly Stik®and Völkl®; Consumer Solutions: Bionaire®, Crock-Pot®, FoodSaver®,
Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, and VillaWare®,
and Branded Consumables: Ball®, Bee®, Bicycle®, Crawford®, Diamond®, Dicon®, First Alert®, Forster®,
Hoyle®, Java-Log®, Kerr®, Lehigh®, Leslie-Locke®, Loew-Cornell®and Pine Mountain®.
In addition to the three primary business segments described above, our Process Solutions segment consists
primarily of our plastic business, which manufactures, markets and distributes a wide variety of plastic products,
including jar closures, contact lens packaging, monofilament, plastic cutlery, refrigerator door liners, medical
disposables and rigid packaging, and our zinc strip business, which is the largest producer of zinc strip and
fabricated zinc products in North America, manufacturing a broad array of original equipment manufacturer
(“OEM”) such as coinage blanks for the U.S. Mint, a major supplier to the Royal Canadian Mint, and
international markets. Our monofilament business, which produces nylon and polyester monofilament line used
in various products, including woven mats used by paper producers and weed trimmer cutting line, as well as
fiberglass radio antennas for marine, citizen band and military applications, is also reported within this Process
Solutions segment. See Note 17 “Segment Information” for additional detail.
On August 8, 2007, the Company acquired all of the outstanding shares of K2 Inc. (the “Acquisition”), a
leading provider of branded consumer products in the global sports equipment market (see Note 3). The
Company’s results of operations for 2007 include the results of K2 Inc. (“K2”) from August 8, 2007
(the “Acquisition Date”).
On April 6, 2007, the Company acquired Pure Fishing, Inc. (“Pure Fishing”), a leading global provider of
fishing equipment (see Note 3). The Company’s results of operations for 2007 include the results of Pure Fishing
from April 6, 2007.
On January 24, 2005, the Company acquired American Household, Inc., a privately held leading designer,
manufacturer and marketer of branded household and outdoor leisure consumer products in both domestic and
international markets. Additionally, On July 18, 2005, the Company acquired of The Holmes Group, Inc., a
privately held company. Holmes is a leading manufacturer and distributor of home environment and small
kitchen appliances (see Note 3).
During 2006 and 2005, the Company completed a number of acquisitions that by nature are complementary
to the Company’s core businesses and from an accounting standpoint were not significant individually or in the
aggregate. Hereafter, these acquisitions are referred to as “tuck-in” acquisitions.
During 2006, the Company completed four tuck-in acquisitions, three in the Branded Consumables segment
and one in the Consumer Solutions segment.
Basis of Presentation
The Consolidated Financial Statements include the consolidated accounts of the Company and have been
prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”).
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