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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2008 (Dollars in millions, except per share data and unless otherwise indicated)
• the Company may make restricted payments during any fiscal year not otherwise permitted, provided that certain applicable
thresholds are met.
Each of the Facility, the Foreign Senior Debt and the Indenture contain cross-default provisions pursuant to which a default in respect
to certain of the Company’s other indebtedness could trigger a default by the Company under the Facility, the Foreign Senior Debt and the
Indenture. If the Company defaults under the covenants (including the cross-default provisions), the Company’s lenders could foreclose on
their security interest in the Company’s assets, which may have a material adverse effect on the Company’s consolidated results of opera-
tions, financial condition or cash flows.
The Company’s obligations under the Facility and the Senior Notes are guaranteed, on a joint and several basis, by certain of its
domestic subsidiaries, all of which are directly or indirectly 100% owned by the Company (See Note 19). The obligations under the Foreign
Senior Debt are guaranteed by the Company and certain of its foreign subsidiaries which are directly or indirectly 100% owned by the
Company.
The Company’s debt maturities for the five years following December 31, 2008 and thereafter are as follows:
(In millions)
Years Ending December 31, Amount
2009 $431.4
2010 19.8
2011 1,248.8
2012 513.4
2013 0.8
Thereafter 658.0
Total principal payments 2,872.2
Net discount and other (3.9)
Total $ 2,868.3
Unless otherwise stated, at December 31, 2008 and 2007, the carrying value of debt approximates its fair value.
At December 31, 2008 and 2007, unamortized deferred debt issue costs were $27.4 and $32.8, respectively. These costs are included
in “Other assets” on the Consolidated Balance Sheets and are being amortized over the respective terms of the underlying debt.
10. Derivative Financial Instruments and Fair Value Measurements
The fair value and notional amounts of derivative financial instruments at December 31, 2008 and 2007, are presented below:
Weighed
Net Fair Average
(In millions) Notional Value Asset Maturity
December 31, 2008 Amount (Liability) (years)
Cash flow hedges:
Interest rate swaps $ 1,125.0 $ (29.2) 0.9
Foreigncurrency contracts 274.4 11.4 0.6
Fair value hedges:
Cross-currency swaps 27.6 0.8 3.1
Derivatives not designated as effective hedges:
Interest rate swaps 40.0 (2.1) 1.5
Foreign currency contracts 151.0 (0.6) 0.5
Commoditycontracts 18.4 (6.3) 0.5
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