XML 102 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Assets Held for Sale
12 Months Ended
Dec. 31, 2012
Assets Held for Sale

8. Assets Held for Sale

The Company continues to be in discussions for the sale of its chemical business in Brazil. The chemical business, which has annual revenues of approximately $40 million, markets sodium bicarbonate, dairy products and other chemicals in Brazil. In December 2011, the net assets associated with a portion of this business were classified as “held for sale” for financial statement purposes. As of December 31, 2012, the Company has approximately $7.9 million of net PP&E and approximately $3.6 million of inventories at its Brazil facility recorded in other current assets as assets held for sale.

In the first quarter of 2010, the Company sold the BRILLO and certain LAMBERT KAY product lines, along with associated productive assets, that were classified as net assets held for sale at December 31, 2009. The aggregate carrying value of these assets at December 31, 2009 was approximately $8.8 million. In 2010, the Company received net proceeds from the sale of these assets of $8.2 million, along with a note receivable of $1.8 million, and, in the first quarter of 2010, recognized a gain of approximately $1.0 million that was recorded as an offset to selling, general and administrative expenses in the Consumer Domestic segment.