ACQUISITIONS (Tables)

12 Months Ended

Dec. 28, 2013

Dec. 31, 2011

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The final 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			5.4			26.5			35.9
Total assets	15.4			26.8			112.9			155.1
Liabilities	(5.0		)	(2.4		)	(58.7		)	(66.1		)
Total	10.4			24.4			54.2			89.0
Less: Fair value of original equity interest	—			—			(23.9		)	(23.9		)
Total purchase price	$	10.4		$	24.4		$	30.3		$	65.1

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

Pro Forma Condensed Consolidated Statements of Income

The following unaudited proforma financial information for the years ended December 29, 2012 and December 31, 2011 gives effect to the acquisitions of Flex-ing, Cerus, and PPH by the Company as if the acquisitions had occurred at the beginning of the 2012 and 2011 years. These unaudited proforma combined condensed financial statements are prepared for informational purposes only and are not necessarily indicative of actual results or financial position that would have been achieved had the acquisitions been consummated on the dates indicated and are not necessarily indicative of future operating results or financial position of the consolidated companies. The unaudited proforma combined condensed financial statements do not give effect to any cost savings or incremental costs that may result from the integration of Flex-ing, Cerus, and PPH with the Company.

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	$	1.79	$	1.46
Diluted earnings per share	$	1.76	$	1.43