Redeemable Non-Controlling Interest

3 Months Ended

Mar. 02, 2013

Temporary Equity Disclosure [Abstract]

Redeemable Non-Controlling Interest Disclosure

Note 16: Redeemable Non-Controlling Interest

We account for the non-controlling interest in H.B.Fuller Kimya San. Tic A.S. (HBF Kimya) 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 non-controlling shareholder at a price determined by a formula based on 24 months trailing EBITDA. Since the option makes the redemption of the non-controlling ownership shares of HBF Kimya 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 Kimya's results of operations are consolidated in our financial statements. Both the non-controlling 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 Kimya'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 March 2, 2013 the redeemable non-controlling interest was:

Balance at December 1, 2012	$	3,981
Net income attributed to redeemable non-controlling interest		95
Foreign currency translation adjustment		10
Balance at March 2, 2013	$	4,086