Sunbeam 2009 Annual Report Download - page 35

While the Company transacts business predominantly in U.S. dollars and most of its revenues are collected in U.S. dollars, a substan-
tial portion of the Company’s operating costs are denominated in other currencies, such as the British Pound, Canadian dollar, Chinese
Renminbi, European Euro, Japanese Yen, Mexican Peso, and Venezuelan Bolivar. Changes in the relation of these and other currencies to the
U.S. dollar will affect Company’s sales and profitability and could result in exchange losses. For 2009, approximately 31% of the Company’s
sales were denominated in foreign currencies, the most significant of which were: Euro dollars—approximately 8% and Canadian dollars—
approximately 6%. The primary purpose of the Company’s foreign currency hedging activities is to mitigate the foreign currency exchange
rate exposure on the cash flows related to forecasted inventory purchases and sales. A hypothetical 10% change in foreign currency rates
would not have a material effect on foreign currency gains and losses related to the foreign currency derivatives or the net fair value of the
Company’s foreign currency derivatives.
The Company is exposed to the price risk that the rising cost of commodities has on certain of its raw materials. As such, the
Company monitors the commodities markets and from time to time the Company enters into commodity-based derivatives in order to
mitigate the impact that the rising price of these commodities has on the cost of certain of these Company’s raw materials. A hypothetical
10% change in the commodity prices underlying the derivatives would not have a material effect on the fair value commodity derivatives
and the related gains and losses included in the Company’s results of operations.
The Company is exposed to credit loss in the event of non-performance by the counterparties to its derivative financial instruments,
all of which are highly rated institutions; however, the Company does not anticipate non-performance by such counterparties.
The Company does not enter into derivative financial instruments for trading purposes.
Market for Registrant’s Common Equity Security
Market for Registrant’s Common Equity
Jarden Corporation’s (the “Company” or “Jarden”) common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol
“JAH.” As of February 17, 2010, there were approximately 3,200 registered holders of record of the Company’s common stock, par value
$0.01 per share. On February 17, 2010, the last recorded sales price of the Company’s common stock was $30.84. In September 2009, the
Company announced that the Board of Directors of the Company (the “Board”) had decided to initiate a quarterly cash dividend of $0.075
per share of the Company’s common stock. The Company expects that the quarterly dividends going forward will be paid during the last
week of October, January, April and July, and anticipates a total annual dividend of $0.30 per share of common stock. However, the actual
declaration of any future cash dividends, and the establishment of record and payment dates, will be subject to final determination by the
Board each quarter after its review of the Company’s financial performance.
The table below sets forth the intraday high and low sales prices of the Company’s common stock as reported on the NYSE and cash
dividends paid per share for the periods indicated:
Dividends Declared Common Stock Price
Per Share 2009 2008
2009 2008 High Low High Low
First Quarter $ — $ — $ 14.66 $ 8.77 $ 26.25 $ 19.31
Second Quarter — — 20.94 12.26 24.11 17.48
Third Quarter 0.075 — 28.82 17.46 27.93 16.88
Fourth Quarter 0.075 — 31.94 24.55 23.87 7.20
On June 9, 2005, the Board declared a 3-for-2 stock split in the form of a stock dividend of one additional share of common stock for
every two shares of common stock, payable on July 11, 2005 to shareholders of record as of the close of business on June 20, 2005. All
references in this Annual Report to the number of shares outstanding, per share amounts, issued shares, sale price of Jarden’s common
stock, restricted stock and stock option data of Jarden’s common shares have been restated to reflect the effect of the stock split for all
periods presented.
Market for Registrant’s Common Equity
Jarden Corporation Annual Report 2009
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