Anixter International Inc. Financial Statement Analysis
ANIXTER INTERNATIONAL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Goodwill Assigned to Segments
The following table presents the changes in goodwill allocated to the Company's reporting units from December 29, 2017
to January 3, 2020:
(In millions)
Balance as of December 29, 2017
Acquisition related
(a)
Foreign currency translation and other
Balance as of December 28, 2018
Acquisition related
(a)
Foreign currency translation and other
Balance as of January 3, 2020
NSS
$
408.8
EES
$ 181.7 $
UPS
Total
187.6 $
778.1
73.2
73.2
(9.3)
(0.8)
(9.2)
(19.3)
$
472.7 $ 180.9 $
178.4 $
832.0
$
0.2
(9.3)
0.4
5.4
463.6 $ 181.3 $ 183.8 $
0.2
(3.5)
828.7
(a) In the second quarter of 2018, the Company completed the acquisition of security businesses in Australia and New Zealand
for $150.1 million, including a preliminary net working capital adjustment of $4.6 million. The transaction was financed
primarily from borrowings under the revolving lines of credit. The purchase price was preliminarily allocated to $32.6 million
of working capital and $60.6 million of intangible assets during the year ended 2018. Acquisition costs were $2.6 million. The
year ended 2018 results include approximately $71.9 million of sales from the acquired entities. The purchase price allocation
was finalized in 2019.
NOTE 11. SUMMARIZED FINANCIAL INFORMATION OF ANIXTER INC.
Anixter International Inc. guarantees, fully and unconditionally, substantially all of the debt of its subsidiaries, which
include Anixter Inc., its 100% owned primary operating subsidiary. Anixter International Inc. has no independent assets or
operations and all subsidiaries other than Anixter Inc. are minor. The following summarizes the financial information for
Anixter Inc.:
(In millions)
Assets:
Current assets
Property and equipment, net
Operating leases
Goodwill
Intangible assets, net
Other assets
ANIXTER INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
Liabilities and Stockholder's Equity:
Current liabilities
Long-term debt
Operating lease obligations
Other liabilities
Stockholder's equity
75
January 3,
2020
December 28,
2018
$
3,035.3 $
179.5
3,171.6
169.1
265.1
828.7
832.0
361.2
392.9
132.9
92.9
$
4,802.7 $
4,658.5
1,492.8 $
1,630.3
1,065.9
1,260.7
213.0
172.6
199.6
1,858.4
1,567.9
$
4,802.7 $
4,658.5View entire presentation