Other Income and Expense

12 Months Ended

Feb. 28, 2011

Other Income and Expense [Abstract]

OTHER INCOME AND EXPENSE

NOTE 3 – OTHER INCOME AND EXPENSE

	2011			2010			2009
Loss on disposition of retail stores	$	–		$	28,333		$	–
Gain on disposition of calendar product lines		–			(547	)		–
Gain on disposition of candy product lines		–			(115	)		–
Gain on disposition of party goods product lines		(254	)		(34,178	)		–
Loss on recognition of foreign currency translation adjustments		–			8,627			–
Miscellaneous		(2,951	)		(2,430	)		(1,396	)
Other operating income – net	$	(3,205	)	$	(310	)	$	(1,396	)

In April 2009, the Corporation sold the rights, title and interest in certain of the assets of its retail store operations to Schurman and recognized a loss on disposition of $28,333. See Note 2 for further information.

The Corporation sold its calendar product lines in July 2009 and its candy product lines in October 2009, which resulted in gains totaling $547 and $115, respectively. Proceeds received from the sales of the calendar and candy product lines of $3,063 and $1,650, respectively, are included in “Other-net” investing activities on the Consolidated Statement of Cash Flows.

Pursuant to the Party Goods Transaction, in December 2009, the Corporation sold certain assets, equipment and processes of the party goods product lines and recorded a gain of $34,178. An additional gain of $254 was recorded in 2011 as amounts previously estimated were finalized. Cash proceeds of $24,880, which were held in escrow and recorded as a receivable at February 28, 2010, were received in 2011 and are included in “Proceeds from escrow related to party goods transaction” on the Consolidated Statement of Cash Flows. See Note 2 for further information.

During the fourth quarter of 2010, it was determined that the wind down of Carlton Mexico was substantially complete. In accordance with ASC 830, the currency translation adjustments were removed from the foreign currency translation adjustment component of equity and a loss was recognized totaling $11,300. The Corporation also recorded a loss totaling $601 and a gain of $3,274 for foreign currency translation adjustments realized in relation to two other entities determined to be liquidated in accordance with ASC 830.

	2011			2010			2009
Foreign exchange loss (gain)	$	224		$	(4,746	)	$	483
Rental income		(1,232	)		(1,194	)		(1,432	)
(Gain) loss on asset disposal		(3,463	)		59			1,215
Miscellaneous		(1,370	)		(606	)		1,891
Other non-operating (income) expense – net	$	(5,841	)	$	(6,487	)	$	2,157

The Corporation sold the land and building associated with its Mexican operation within the North American Social Expression Products segment in August 2010 and a manufacturing facility within the International Social Expression Products segment in January 2011, and recorded gains upon disposal of approximately $1,000 and $2,819, respectively. Both assets were previously included in “Assets held for sale” at net book values on the Consolidated Statement of Financial Position as of February 28, 2010. The cash proceeds received from the sale of the Mexican assets and the manufacturing facility of $2,000 and $9,952, respectively, are included in “Proceeds from sale of fixed assets” on the Consolidated Statement of Cash Flows.

“Miscellaneous” includes, among other things, income/loss from debt and equity securities. In 2011, miscellaneous included $1,300 of dividend income related to the Corporation’s investment in AAH. In 2009, miscellaneous included a loss of $2,740 related to the Corporation’s investment in the first lien debt securities of RPG prior to the acquisition of the capital stock of RPG in February 2009. See Note 2 for further information.