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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2009
(Dollars in millions, except per share data and unless otherwise indicated)
charge was recorded within the Firelog, Lehigh and United States Playing Cards reporting units. In the Outdoor Solutions segment, the
impairment charge was recorded within the Apparel and Footwear reporting unit. The impairment for these reporting units was due to a
decrease in the fair value of forecasted cash flows, reflecting the continued deterioration of macroeconomic conditions, which accelerated
and became apparent during the fourth quarter of 2008 (hereafter referred to as “continued deterioration of macroeconomic conditions”).
Intangibles activity for 2009 and 2008 is as follows:
Gross
Carrying Accumulated Net Book
Amount at Amortization Value At Amortization
December 31, Impairment and Foreign December 31, Periods
(In millions) 2008 Additions Charge Exchange 2009 (years)
Intangibles
Patents $ 5.6 $ 1.6 $ — $ (1.1) $ 6.1 12-30
Non-compete agreements 1.7 2.0 — (2.7) 1.0 1-5
Manufacturing process and expertise 30.9 — — (22.4) 8.5 3-7
Brand names 1.9 1.3 — (0.8) 2.4 4-10
Customer relationships
and distributor channels 143.9 7.8 — (23.7) 128.0 10-25
Trademarks and tradenames 787.2 3.9 (10.1) (0.2) 780.8 Indefinite
$ 971.2 $ 16.6 $ (10.1) $ (50.9) $ 926.8
Gross
Carrying Accumulated Net Book
Amount at Purchase Amortization Value At Amortization
December 31, Accounting Impairment and Foreign December 31, Periods
(In millions) 2007 Additions Adjustments (1) Charge Exchange 2008 (years)
Intangibles
Patents $ 0.1 $ 5.5 $ — $ — $ (0.5) $ 5.1 12-30
Non-compete agreements 1.7 — — — (1.4) 0.3 3-5
Manufacturing process
and expertise 32.0 0.1 (1.2) — (15.7) 15.2 3-7
Brand names 4.3 — (2.4) — (0.4) 1.5 4-10
Customer relationships
and distributor channels 146.2 — (2.3) — (16.4) 127.5 10-25
Trademarks and tradenames 960.4 — (62.3) (110.9) (0.2) 787.0 Indefinite
$ 1,144.7 $ 5.6 $ (68.2) $ (110.9) $ (34.6) $ 936.6
(1) Comprised primarily of purchase accounting adjustments based upon the final determination of the K2 purchase price allocation.
In the fourth quarter of 2009 and 2008, the Company’s impairment test resulted in a non-cash charge of $10.1 and $111, respectively,
to reflect impairment of intangible assets related to certain of the Company’s tradenames. The impairment charges were allocated to the
Company’s reporting segments as follows:
(In millions) 2009 2008
Impairment of intangibles
Outdoor Solutions $ 0.8 $ 11.7
Consumer Solutions — 76.3
Branded Consumables 9.3 22.9
$ 10.1 $ 110.9
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