Sunbeam 2011 Annual Report Download - page 47

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45
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2011 (Dollars in millions, except per share data and unless otherwise indicated)
The combined cash purchase price, net of cash acquired, for the Aero and Quickie acquisitions was approximately $270, subject
to certain adjustments. Based on the Company’s independent valuations for Aero and Quickie, the Company allocated the total
purchase price for these acquisitions, net of cash acquired, to the identifiable tangible and intangible assets acquired and liabilities
assumed based on their estimated fair values on the respective acquisition dates. Based on these purchase price allocations, the
Company allocated approximately $10 of the purchase price to identified tangible net liabilities and approximately $161 of the
purchase price to identified intangible assets. The Company recorded the excess of the purchase price over the aggregate fair
values of approximately $121 as goodwill.
Supplemental pro forma information has not been provided for Mapa Spontex as the acquired operations were a component
of a significantly larger legal entity and separate historical financial statements were not prepared and could not be prepared to
a sufficient level of reliability, as well as be inclusive of all costs necessary to operate the acquired businesses as a stand-alone
operation. As such, the compilation of the requisite historical financial data is impracticable. Supplemental pro forma financial
information for Aero and Quickie have been excluded as they are not material to the consolidated financial position, results of
operations or cash flows of the Company.
For 2010, cost of sales includes a $27.4 charge for the purchase accounting adjustment for the elimination of manufacturer’s profit in
inventory related to these acquisitions.
For 2010, SG&A includes approximately $23 in transaction costs related to these acquisitions.
4. Inventories
Inventories are stated at the lower-of-cost-or-market with cost being determined principally by the first-in, first-out method (“FIFO”),
and are comprised of the following at December 31, 2011 and 2010:
5. Property, Plant and Equipment
Property, plant and equipment, net, is comprised of the following at December 31, 2011 and 2010:
(In millions) 2011 2010
Raw materials and supplies $ 219.4 $ 231.8
Work-in-process 89.6 90.8
Finished goods 965.4 972.0
Total inventories $ 1,274.4 $ 1,294.6
(In millions) 2011 2010
Land $ 47.2 $ 49.6
Buildings 286.7 291.6
Machinery and equipment 1,032.4 973.9
1,366.3 1,315.1
Less: Accumulated depreciation (750.4) (656.2)
Total property, plant and equipment, net $ 615.9 $ 658.9
Depreciation of property, plant and equipment for 2011, 2010 and 2009 was $145, $127 and $114, respectively.