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Impairment of Long-lived Asset
9 Months Ended
Sep. 01, 2012
Impairment of Long-lived Asset Disclosure Abstract  
Impairment of Long-lived Asset Disclosure

Note 16: Impairment of Long-lived Asset

 

During the second quarter of 2012, we determined the fair value of one of our cost basis investments was lower than the investment value on our balance sheet based on investor approval of a buy-out offer from the majority shareholder. As a result, we recorded an impairment charge of $671. In 2011 we discontinued production of the polymers used in certain resin products that had been produced in our EIMEA operating segment. As a result, we performed an impairment test on the non-amortizable trademarks and trade names used in resin products. In accordance with accounting standards, we calculated the fair value using a discounted cash flow approach. As a result of this analysis, we recorded an impairment charge of $332 in 2011 related to the impairment of non-amortizable trademarks and trade names used in connection with the abandoned resin products.