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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)
77
19. Condensed Consolidating Financial Statements
The Company’s 8% Senior Notes and 7 1/2% Senior Subordinated Notes (see Note 9) are fully guaranteed, jointly and severally, by
certain of the Company’s domestic subsidiaries (“Guarantor Subsidiaries”). The Company’s non-United States subsidiaries and those domestic
subsidiaries who are not guarantors (“Non-Guarantor Subsidiaries”) are not guaranteeing these notes. Presented below is the condensed
consolidating financial statements of the Company (“Parent”), the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries on a consolidated
basis as of and for the years ended December 3, 2009, 2008 and 2007.
Condensed Consolidating Statements of Income:
Year Ended December 31, 2009
Guarantor Non-Guarantor
(In millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated
Net sales $ — $ 3,395.0 $ 1,890.7 $ (133.1) $ 5,152.6
Costs and expenses 114.3 3,057.0 1,727.5 (133.1) 4,765.7
Operating (loss) earnings (114.3) 338.0 163.2 — 386.9
Other expense, net 13.7 186.8 57.7 — 258.2
Equity in the income of subsidiaries 256.7 102.6 — (359.3) —
Net income (loss) $128.7 $ 253.8 $ 105.5 $ (359.3) $ 128.7
Year Ended December 31, 2008
Guarantor Non-Guarantor
(In millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated
Net sales $ — $ 3,515.0 $ 2,046.1 $ (177.8) $ 5,383.3
Costs and expenses 76.5 3,470.3 1,868.2 (177.8) 5,237.2
Operating (loss) earnings (76.5) 44.7 177.9 — 146.1
Other expense, net 27.4 110.1 67.5 — 205.0
Equity in the income of subsidiaries 45.0 117.6 — (162.6) —
Net income $ (58.9) $ 52.2 $ 110.4 $ (162.6) $ (58.9)
Year Ended December 31, 2007
Guarantor Non-Guarantor
(In millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated
Net sales $ — $ 3,209.6 $ 1,614.5 $ (164.0) $ 4,660.1
Costs and expenses 106.5 3,038.2 1,447.4 (164.0) 4,428.1
Operating (loss) earnings (106.5) 171.4 167.1 — 232.0
Other expense, net (24.7) 178.0 50.6 — 203.9
Equity in the income of subsidiaries 109.9 112.8 — (222.7) —
Net income $ 28.1 $ 106.2 $ 116.5 $ (222.7) $ 28.1