Joint Venture Investments

6 Months Ended

Jun. 30, 2012

Equity Method Investments and Joint Ventures [Abstract]

Summarized below is the aggregated financial information for the Company’s joint ventures, Pelikan-Artline Pty Ltd and Neschen GBC Graphic Films LLC, which are accounted for under the equity method. Accordingly, the Company has recorded its proportionate share of earnings or losses on the line entitled, “Equity in earnings of joint ventures” in the Condensed Consolidated Statements of Operations. The Company’s share of the net assets of the joint ventures are included within “Other assets” in the Condensed Consolidated Balance Sheets.



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions of dollars)	2012		2011		2012		2011
Net sales	$	34.9	$	39.3	$	75.3	$	76.6
Gross profit	19.7		22.0		42.4		42.6
Operating income	3.5		4.0		8.0		7.7
Net income	2.4		2.6		5.3		5.1



(in millions of dollars)	June 30, 2012		December 31, 2011
Current assets	$	69.4	$	94.3
Non-current assets	36.1		37.1
Current liabilities	34.8		40.0
Non-current liabilities	14.6		16.7

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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