Acquisition (Tables)

3 Months Ended

May 31, 2013

The prior year first quarter included charges of $31.0 million associated with the aforementioned acquisition and are reflected on the Consolidated Statement of Income as follows:


(In millions)	Contract asset impairment		Bad debt expense		Legal and advisory fees		Impairment of debt purchased		Total
Net sales		$4.0		$ -		$ -		$ -		$ 4.0
Administrative and general expenses		-		17.2		2.0		-		19.2
Other operating (income) expense - net		-		-		-		7.8		7.8

		$4.0		$17.2		$2.0		$7.8		$31.0

Charges Reflected in Reportable Segments

These charges are reflected in the Corporation’s reportable segments as follows:


(In millions)	Contract asset impairment		Bad debt expense		Legal and advisory fees		Impairment of debt purchased		Total
International Social Expression Products		$4.0		$17.2		$ -		$ -		$ 21.2
Unallocated		-		-		2.0		7.8		9.8

		$4.0		$17.2		$2.0		$7.8		$31.0

Purchase Price Allocation

The following represents the preliminary purchase price allocation:


Purchase price (in millions):
Credit bid			$ 37.2
Effective settlement of pre-existing relationships with the legacy Clinton Cards business			6.4
Cash acquired			(0.6)

			$ 43.0


Allocation (in millions):
Inventory			$ 5.5
Property, plant and equipment			18.4
Intangible assets			22.5
Current liabilities assumed			(3.4)

			$ 43.0