Acquisition (Tables)

9 Months Ended

Nov. 29, 2013

Business Combinations [Abstract]

Charges Incurred for Acquisition

The prior year nine month period included charges of $37.5 million associated with the aforementioned acquisition and are reflected on the Consolidated Statement of Operations 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		6.3		—		23.5
Other operating (income) expense - net		—		—		—		10.0		10.0
	$	4.0	$	17.2	$	6.3	$	10.0	$	37.5

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		—		—		6.3		10.0		16.3
	$	4.0	$	17.2	$	6.3	$	10.0	$	37.5

Purchase Price Allocation

The following represents the final 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