Sunbeam 2009 Annual Report Download - page 55

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Impairments—2009
In the Outdoor Solutions segment, the impairment charge recorded relates primarily to certain tradenames within this segment’s
snow sports business, primarily a result of the abandonment of a minor tradename. In the Branded Consumables segment, the impairment
charge recorded relates to certain tradenames associated with this segment’s Firelog and Safety and Security businesses. The impairment
within the Branded Consumables segment was due to a decrease in the fair value of forecasted cash flows, resulting from the deterioration
of revenues and margins related to these tradenames.
Impairments—2008
In the Outdoor Solutions segment, the impairment charge recorded relates primarily to certain tradenames within this segment’s
snow sports and paintball businesses. The impairment within the Outdoor Solutions segment was due to an overall decline in the paintball
market, as well as a decrease in the fair value of forecasted cash flows, resulting from the impact that the continued deterioration of macro-
economic conditions has on such cash flows. In the Consumer Solutions segment, the impairment charge recorded relates to certain trade-
names within this segment’s small kitchen and household appliance businesses. The impairment within the Consumer Solutions segment is
primarily due to: the Company’s decision to strategically realign certain brand names; increased competition in certain markets; and the
impact of the continued deterioration of macroeconomic conditions. In the Branded Consumables segment the impairment charge recorded
relates to certain tradenames associated with this segment’s Firelog, Lehigh and United States Playing Cards businesses. The impairment
within the Branded Consumables segment was due to a decrease in the fair value of forecasted cash flows, resulting from the impact that
the continued deterioration of macroeconomic conditions has on such cash flows.
The estimated future amortization expense related to amortizable intangible assets at December 31, 2009 is as follows:
(In millions)
Years Ending December 31, Amount
2010 $ 14.5
2011 11.3
2012 9.5
2013 8.7
2014 8.5
2015 and thereafter 93.3
Amortization of intangibles for 2009, 2008 and 2007 was $16.7, $16.0 and $11.4, respectively. At December 31, 2009, approximately
$1.6 billion of the goodwill and other intangible assets recorded by the Company is not deductible for income tax purposes.
7. Other Current Liabilities
Other current liabilities are comprised of the following at December 31, 2009 and 2008:
(In millions) 2009 2008
Cooperative advertising, customer rebates and allowances $ 81.9 $ 71.4
Warranty and product liability reserves 98.6 95.8
Accrued environmental and other litigation 15.1 15.7
Deferred consideration for acquisitions 37.6 10.9
Other 151.4 142.4
Total other current liabilities $ 384.6 $ 336.2
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2009
(Dollars in millions, except per share data and unless otherwise indicated)
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