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Other Income and Expense
 6 Months Ended
Aug. 30, 2013
Other Income And Expenses [Abstract]  
Other Income and Expense

Note 7 – Other Income and Expense

Other Operating (Income) Expense – Net

 

     Three Months Ended     Six Months Ended  
(In thousands)    August 30,
2013		     August 24,
2012		     August 30,
2013		     August 24,
2012		  

Clinton Cards secured debt (recovery) impairment

    $ (428 )    $ 2,249      $ (2,428 )    $ 10,043   

Termination of certain agency agreements

      —          —          —          2,125   

Loss (gain) on asset disposal

      122        (2 )      (113 )      154   

Miscellaneous

      (655 )      (777 )      (1,738 )      (1,328 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Other operating (income) expense – net

    $ (961 )    $ 1,470      $ (4,279 )    $ 10,994   
  

 

 

    

 

 

    

 

 

    

 

 

  

The Corporation recorded a loss of $2.2 million and $10.0 million in the three and six-month periods ended August 24, 2012, respectively, related to the senior secured debt of Clinton Cards. During the three and six-month periods ended August 30, 2013 the impairment of the secured debt of Clinton Cards was adjusted based on current estimated recovery information provided by the Administrators, resulting in a gain of $0.4 million and $2.4 million, respectively. See Note 4 for further information.

In May 2012, the Corporation recorded expenses totaling $2.1 million related to the termination of certain agency agreements associated with its licensing business.

Other Non-Operating Income – Net

 

     Three Months Ended     Six Months Ended  
(In thousands)    August 30,
2013		     August 24,
2012		     August 30,
2013		     August 24,
2012		  

Gain related to Party City investment

    $ (3,262 )    $ (3,152 )    $ (3,262 )    $ (3,152 ) 

Foreign exchange (gain) loss

      (360 )      1,060        (1,275 )      (396 ) 

Rental income

      (402 )      (410 )      (886 )      (1,046 ) 

Miscellaneous

      (1 )      2        25        (177 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Other non-operating income – net

    $ (4,025 )    $ (2,500 )    $ (5,398 )    $ (4,771 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

During the three months ended August 30, 2013, the Corporation recognized a gain totaling $3.3 million related to a cash distribution from Party City. See Note 1 for further information. In August 2012, the Corporation recorded a gain totaling $3.2 million associated with the sale of a portion of its investment in Party City.