Sunbeam 2011 Annual Report Download - page 48

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46
Notes to Consolidated Financial Statements
Jarden Corporation Annual Report 2011 (Dollars in millions, except per share data and unless otherwise indicated)
6. Goodwill and Intangibles
Goodwill activity for 2011 and 2010 is as follows:
December 31, 2011
(In millions)
Net Book
Value at
December 31,
2010 Additions
Impairment
Charge
Foreign
Exchange
and Other
Adjustments
Gross
Carrying
Amount
Accumulated
Impairment
Charges
Net
Book
Value
Goodwill
Outdoor Solutions $ 684.0 $ 3.6 $ — $ 0.1 $ 706.2 $ (18.5) $ 687.7
Consumer Solutions 492.6 — — (0.3) 492.3 — 492.3
Branded Consumables (1) 554.3 4.6 (41.9) (1.4) 741.4 (225.8) 515.6
Process Solutions 21.5 — — — 21.5 — 21.5
$ 1,752.4 $ 8.2 $ (41.9) $ (1.6) $ 1,961.4 $ (244.3) $ 1,717.1
December 31, 2010
(In millions)
Net Book
Value at
December 31,
2009 Additions
Impairment
Charge
Foreign
Exchange
and Other
Adjustments
Gross
Carrying
Amount
Accumulated
Impairment
Charges
Net
Book
Value
Goodwill
Outdoor Solutions $ 660.6 $ 23.4 $ — $ — $ 702.5 $ (18.5) $ 684.0
Consumer Solutions 491.5 — — 1.1 492.6 — 492.6
Branded Consumables (2) 344.8 226.4 (17.3) 0.4 738.2 (183.9) 554.3
Process Solutions 21.5 — — — 21.5 — 21.5
$ 1,518.4 $ 249.8 $ (17.3) $ 1.5 $ 1,954.8 $ (202.4) $ 1,752.4
(1) In the fourth quarter of 2011, the Company’s annual impairment test, in connection with fourth quarter triggering events, resulted in a non-cash
charge to reflect impairment of goodwill in the Company’s Branded Consumables segment. The impairment charge was recorded primarily within
the United States Playing Cards business and was primarily due to a decrease in the fair value of forecasted cash flows, reflecting lower levels of
revenues and margins in the business than originally forecast.
(2) The non-cash impairment charge recorded within the Branded Consumables segment during the second quarter of 2010, reflects the impairment of
goodwill within this segment’s Arts and Crafts business. The impairment was due to a decrease in the fair value of forecasted cash flows, reflecting
the deterioration of revenues and margins in this segment’s Arts and Crafts business due to a decline in 2010 of forecasted sales to a major
customer.
In 2009, the Company’s annual impairment test resulted in a non-cash charge of $12.8 to reflect impairment of goodwill in the
Company’s Branded Consumables segment. The impairment charge was recorded within the Arts and Crafts business unit. The
impairment was due to a decrease in the fair value of forecasted cash flows, reflecting the deterioration of revenues and margins in
the business.