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Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2010 (Dollars in millions, except per share data and unless otherwise indicated)
Year Ended December 31, 2008
(In millions) Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Consolidated
Net cash provided by (used in) operating activities, net $ (626.1) $ 724.6 $ 151.4 $ 249.9
Financing activities:
Net change in short-term debt 130.2 — 1.3 131.5
(Payments on) proceeds from intercompany transactions 733.1 (638.7) (94.4) —
Proceeds from issuance of long-term debt 25.0 — — 25.0
Payments on long-term debt (24.3) — (0.7) (25.0)
Issuance (repurchase) of common stock, net (21.4) — — (21.4)
Other (5.5) — — (5.5)
Net cash provided by (used in) financing activities 837.1 (638.7) (93.8) 104.6
Investing activities:
Additions to property, plant and equipment (2.2) (83.1) (16.9) (102.2)
Acquisition of business, net of cash acquired (40.0) (1.6) (1.0) (42.6)
Other (16.3) (4.0) (10.4) (30.7)
Net cash used in investing activities (58.5) (88.7) (28.3) (175.5)
Effect of exchange rate changes on cash — — (6.7) (6.7)
Net increase (decrease) in cash and cash equivalents 152.5 (2.8) 22.6 172.3
Cash and cash equivalents at beginning of year 59.3 10.7 150.5 220.5
Cash and cash equivalents at end of year $ 211.8 $ 7.9 $ 173.1 $ 392.8
The amounts reflected as proceeds (payments) from (to) intercompany transactions represent cash flows originating from transactions
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 2010 and 2009 were as follows (see Note 3 for a discussion of the Company’s
acquisitions that occurred during these periods):
The results of operations for the fourth quarter of 2009 include a $22.9 non-cash charge for the impairment of goodwill and
intangibles (see Note 6); a $17.1 charge for stock-based compensation related to certain share-based awards issued during the
fourth quarter of 2009 (see Note 13); a $15.5 charge related fair value interest rate swaps not designated as effective hedges
(see Note 10); a $9.2 foreign currency gain on U.S. dollar cash balances held in Venezuela (see Note 1); and a $4.7 reduction in
unrecognized tax benefits (see Note 12).
(In millions, except per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter(2) Total
2010
Net sales $ 1,189.1 $ 1,547.5 $ 1,601.9 $ 1,684.2 $ 6,022.7
Gross profit 309.1 411.6 457.9 460.2 1,638.8
Net income (loss) as reported (59.0) 38.4 80.6 46.7 106.7
Basic earnings (loss) per share (1) (0.66) 0.43 0.91 0.53 1.20
Diluted earnings (loss) per share (1) (0.66) 0.43 0.90 0.52 1.19
2009
Net sales $ 1,138.9 $ 1,269.7 $ 1,351.3 $ 1,392.7 $ 5,152.6
Gross profit 292.3 356.4 396.8 380.5 1,426.0
Net income as reported 8.9 44.9 73.7 1.2 128.7
Basic earnings per share (1) 0.12 0.53 0.84 0.01 1.53
Diluted earnings per share (1) 0.12 0.53 0.83 0.01 1.52
(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 2010 include $27.8 of acquisition-related and other costs and a foreign currency gain of $7.5
related to the Venezuela devaluation (see Note 1).
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