Redeemable Non-Controlling Interest

6 Months Ended

Jun. 02, 2012

Temporary Equity Disclosure [Abstract]

Redeemable Non-Controlling Interest Disclosure

Note 17: Redeemable Non-Controlling Interest

We account for the non-controlling interest in H.B.Fuller Kimya San. Tic A.S. (HBF Turkey) as a redeemable non-controlling interest because both the non-controlling shareholder and H.B. Fuller have an option, exercisable beginning August 1, 2018, to require the redemption of the shares owned by the minority shareholder at a price determined by a formula based on 24 months trailing EBITDA. Since the option makes the redemption of the minority ownership shares of HBF Turkey outside of our control, these shares are classified as a redeemable non-controlling interest in temporary equity in the Condensed Consolidated Balance Sheets. The option is subject to a minimum price of €3,500. The redemption value of the option, if it were currently redeemable, is estimated to be €3,500.

HBF Turkey's results of operations are consolidated in our financial statements. Both the minority interest and the accretion adjustment to redemption value are included in income or loss attributable to non-controlling interests in the Condensed Consolidated Statements of Income and in the carrying value of the redeemable non-controlling interest on the Condensed Consolidated Balance Sheets. HBF Turkey's functional currency is the Turkish lira and changes in exchange rates will affect the reported amount of the redeemable non-controlling interest. As of June 2, 2012 the redeemable non-controlling interest was:

Balance at December 3, 2011	$	3,887
Net income (loss) attributed to redeemable non-controlling interest		96
Accretion adjustment to redemption value		1
Foreign currency translation adjustment		(282)
Balance at June 2, 2012	$	3,702