ACQUISITIONS (Tables)

12 Months Ended

Dec. 29, 2012

Dec. 31, 2011

Jan. 01, 2011

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The preliminary purchase prices assigned to the major identifiable assets and liabilities for the Flex-ing, Cerus, and PPH acquisitions are as follows:

(In millions)	Flex-ing			Cerus			PPH			Total
Assets:
Cash acquired	$	0.1		$	—		$	0.8		$	0.9
Current assets	2.0			3.8			38.1			43.9
Property, plant, and equipment	0.4			0.3			3.6			4.3
Intangible assets	8.9			17.3			43.9			70.1
Goodwill	4.0			5.5			26.5			36.0
Total assets	15.4			26.9			112.9			155.2
Liabilities	(5.0		)	(2.4		)	(58.7		)	(66.1		)
Total	10.4			24.5			54.2			89.1
Less: Fair value of original equity interest	—			—			(23.9		)	(23.9		)
Total purchase price	$	10.4		$	24.5		$	30.3		$	65.2

The purchase price assigned to each major identifiable asset and liability was as follows:

(In millions)
Assets:
Cash acquired	$	0.9
Current assets	26.4
Property, plant, and equipment	11.5
Intangible assets	15.3
Goodwill	8.9
Other assets	2.8
Total assets	65.8
Contingent consideration	(5.5		)
Liabilities	(27.7		)
Total identifiable assets	32.6
Noncontrolling interest	(6.5		)
Total purchase price	$	26.1

The purchase price assigned to each major identifiable asset and liability was as follows:

(In millions)
Assets:
Cash acquired	$	1.1
Current assets	11.0
Property, plant, and equipment	4.6
Intangible assets	5.1
Goodwill	3.5
Other assets	0.1
Total assets	25.4
Liabilities	(12.5		)
Total purchase price	$	12.9

Pro Forma Condensed Consolidated Statements of Income

FRANKLIN ELECTRIC CO., INC.

PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share amounts)	(Unaudited) 2012		(Unaudited) 2011
Net sales	$	925	$	914
Net income	84		68
Per share data:
Basic earnings per share	$	3.57	$	2.92
Diluted earnings per share	$	3.51	$	2.86