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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)
Year Ended December 31, 2006
Guarantor Non-Guarantor
(In millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated
Net cash provided by operating activities, net $171.8 $ 32.8 $ 31.4 $ — $ 236.0
Financing activities:
Net change in short-term debt — — (6.6) — (6.6)
(Payments on) proceeds from intercompany transactions (50.0) 37.4 12.6 — —
Payments on long-term debt (80.0) (1.3) (5.6) — (86.9)
Issuance (repurchase) of common stock, net 95.3 — — — 95.3
Other 3.3 (0.2) (0.5) — 2.6
Net cash provided by (used in) financing activities (31.4) 35.9 (0.1) — 4.4
Investing activities:
Additions to property, plant and equipment (0.4) (53.6) (14.8) — (68.8)
Acquisition of business, net of cash acquired (198.7) (11.1) — — (209.8)
Other — 1.0 0.1 — 1.1
Net cash used in investing activities (199.1) (63.7) (14.7) — (277.5)
Effect of exchange rate changes on cash — — 2.6 — 2.6
Net increase (decrease) in cash and cash equivalents (58.7) 5.0 19.2 — (34.5)
Cash and cash equivalents at beginning of year 184.5 (4.6) 57.2 — 237.1
Cash and cash equivalents at end of year $ 125.8 $ 0.4 $ 76.4 $ — $ 202.6
The amounts reflected as proceeds (payments) from (to) intercompany transactions represent cash flows originating from transac-
tions conducted between guarantor subsidiaries, non-guarantor subsidiaries and parent in the normal course of business operations.
20. Quarterly Results of Operations (Unaudited)
Summarized quarterly results of operations for 2008 and 2007 were as follows (see Note 3 for a discussion of the Company’s
acquisitions that occurred during these periods):
First Second Third Fourth
(In millions,except per share amounts) Quarter Quarter Quarter Quarter (2) Total
2008
Net sales $ 1,217.4 $ 1,360.0 $ 1,455.6 $ 1,350.3 $ 5,383.3
Gross profit 327.8 380.8 415.8 378.4 1,502.8
Net income (loss) as reported 4.7 43.0 63.8 (170.4) (58.9)
Basic earnings (loss) per share (1) 0.06 0.57 0.85 (2.28) (0.78)
Diluted earnings (loss) per share (1) 0.06 0.56 0.83 (2.28) (0.78)
2007
Net sales $ 820.9 $ 1,050.1 $ 1,322.2 $ 1,466.9 $ 4,660.1
Gross profit 201.3 263.1 327.8 350.5 1,142.7
Net income (loss) as reported 1.4 16.7 21.2 (11.2) 28.1
Basic earnings (loss) per share (1) 0.02 0.24 0.29 (0.15) 0.39
Diluted earnings (loss) per share (1) 0.02 0.23 0.28 (0.15) 0.38
(1) Earnings per share calculations for each quarter are based on the weighted average number of shares outstanding for each period, and
the sum of the quarterly amounts may not necessarily equal the annual earnings per share amounts.
(2 ) The results of operations for the fourth quarter of 2008 include a $283 non-cash charge for the impairment of goodwill and intangibles
(see Note6); a $16.2 gain related tothe curtailment/settlement of certain pension and postretirement benefit plans (see Note 15); and a $12.0 gain
from inventory adjustments.
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