Document and Entity Information In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Trading Symbol	nwl
Entity Registrant Name	NEWELL RUBBERMAID INC
Entity Central Index Key	0000814453
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	291.2

Condensed Consolidated Statements of Income (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Condensed Consolidated Statements of Income
Net sales	$ 1,302.7	$ 1,306.4
Cost of products sold	811.8	834.7
GROSS MARGIN	490.9	471.7
Selling, general and administrative expenses	354.5	325.6
Restructuring costs	5.8	16.0
OPERATING INCOME	130.6	130.1
Nonoperating expenses:
Interest expense, net	21.9	32.0
Loss related to extinguishment of debt	4.8	0
Other expense (income), net	1.5	(0.3)
Net nonoperating expenses	28.2	31.7
INCOME BEFORE INCOME TAXES	102.4	98.4
Income taxes	26.7	40.0
NET INCOME	$ 75.7	$ 58.4
Weighted average shares outstanding:
Basic	294.2	281.1
Diluted	298.2	307.8
Earnings per share:
Basic	$ 0.26	$ 0.21
Diluted	$ 0.25	$ 0.19
Dividends per share	$ 0.05	$ 0.05

Condensed Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
CURRENT ASSETS:
Cash and cash equivalents	$ 139.7	$ 139.6
Accounts receivable, net	967.2	997.9
Inventories, net	844.7	701.6
Deferred income taxes	181.4	179.2
Prepaid expenses and other	171.2	113.7
TOTAL CURRENT ASSETS	2,304.2	2,132.0
PROPERTY, PLANT AND EQUIPMENT, NET	535.2	529.3
GOODWILL	2,791.8	2,749.5
OTHER INTANGIBLE ASSETS, NET	662.6	648.3
OTHER ASSETS	343.4	346.2
TOTAL ASSETS	6,637.2	6,405.3
CURRENT LIABILITIES:
Accounts payable	548.9	472.5
Accrued compensation	101.2	190.2
Other accrued liabilities	618.8	698.2
Short-term debt	325.0	135.0
Current portion of long-term debt	411.1	170.0
TOTAL CURRENT LIABILITIES	2,005.0	1,665.9
LONG-TERM DEBT	1,796.3	2,063.9
OTHER NONCURRENT LIABILITIES	797.2	770.0
STOCKHOLDERS' EQUITY:
Preferred stock, authorized shares, 10.0 at $1.00 par value None issued and outstanding	0	0
Common stock, authorized shares, 800.0 at $1.00 par value Outstanding shares, before treasury: 2011 - 308.1 2010 - 307.2	308.1	307.2
Treasury stock, at cost: Shares held: 2011 - 16.9 2010 - 16.7	(430.2)	(425.7)
Additional paid-in capital	594.4	568.2
Retained earnings	2,118.1	2,057.3
Accumulated other comprehensive loss	(555.2)	(605.0)
STOCKHOLDERS' EQUITY ATTRIBUTABLE TO PARENT	2,035.2	1,902.0
STOCKHOLDERS' EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS	3.5	3.5
TOTAL STOCKHOLDERS' EQUITY	2,038.7	1,905.5
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 6,637.2	$ 6,405.3

Condensed Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Condensed Consolidated Balance Sheets
Preferred stock, shares authorized	10.0	10.0
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	800.0	800.0
Common stock, par value	$ 1	$ 1
Common stock, shares outstanding, before treasury	308.1	307.2
Treasury stock, shares	16.9	16.7

Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2011

Mar. 31, 2010

OPERATING ACTIVITIES:

Net income

$ 75.7

$ 58.4

Adjustments to reconcile net income to net cash (used in) provided by operating activities:

Depreciation and amortization

40.7

44.2

Loss related to extinguishment of debt

4.8

Deferred income taxes

35.4

21.3

Non-cash restructuring costs

(0.5)

0.9

Stock-based compensation expense

8.1

10.5

Other, net

4.1

9.0

Changes in operating assets and liabilities, excluding the effects of acquisitions:

Accounts receivable

45.1

(29.4)

Inventories

(131.7)

(46.1)

Accounts payable

70.3

71.1

Accrued liabilities and other

(260.3)

(110.5)

NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES

(108.3)

29.4

INVESTING ACTIVITIES:

Acquisitions and acquisition-related activity

(18.9)

(1.5)

Capital expenditures

(44.9)

(31.5)

Proceeds from sales of noncurrent assets

2.7

NET CASH USED IN INVESTING ACTIVITIES

(61.1)

(33.0)

FINANCING ACTIVITIES:

Short-term borrowings, net

190.0

Proceeds from issuance of debt, net of debt issuance costs

1.4

Payments on notes payable and debt

(0.5)

(2.9)

Cash consideration paid for exchange of convertible notes (1)

(3.1)

^[1]

Cash dividends

(14.7)

(13.9)

Other, net

(3.9)

(2.9)

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

167.8

(18.3)

Currency rate effect on cash and cash equivalents

1.7

(3.4)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

0.1

(25.3)

Cash and cash equivalents at beginning of period

139.6

278.3

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$ 139.7

$ 253.0

[1]

Consideration provided in connection with the convertible note exchange in March 2011 consisted of cash as well as issuance of shares of the Company's common stock, which issuance is not included in the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2011. See Footnote 5 of the Notes to Condensed Consolidated Financial Statements for further information.

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2011
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies	Footnote 1 — Basis of Presentation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Newell Rubbermaid Inc. (collectively with its subsidiaries, the "Company") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and do not include all the information and footnotes required by U.S. generally accepted accounting principles ("U.S. GAAP") for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and the results of operations. It is recommended that these unaudited condensed consolidated financial statements be read in conjunction with the financial statements and the footnotes thereto included in the Company's latest Annual Report on Form 10-K. Seasonal Variations Sales of the Company's products tend to be seasonal, with sales and operating income in the first quarter generally lower than any other quarter during the year, driven principally by reduced volume and the mix of products sold in the first quarter. Historically, the Company has earned more than 60% of its annual operating income during the second and third quarters of the year. The seasonality of the Company's sales volume combined with the accounting for fixed costs, such as depreciation, amortization, rent, personnel costs and interest expense, impacts the Company's results on a quarterly basis. In addition, the Company has historically generated more than 65% of its operating cash flow in the second half of the year due to seasonal variations in operating results, the timing of annual performance-based compensation payments, and credit terms provided to customers. Accordingly, the Company's results for the three months ended March 31, 2011 may not necessarily be indicative of the results that may be expected for the full year ending December 31, 2011. Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates ("ASU's") to the FASB's Accounting Standards Codification. The Company considers the applicability and impact of all ASU's. Recently issued ASU's were assessed and determined to be either not applicable or are expected to have a minimal impact on the Company's consolidated financial position and results of operations. Venezuelan Operations The Company considers Venezuela a highly inflationary economy. Accounting standards require the functional currency of foreign operations operating in highly inflationary economies to be the same as the reporting currency of the Company. Accordingly, the functional currency of the Company's Venezuelan operations is the U.S. Dollar. The Company's Venezuelan operations had approximately $33.7 million of net monetary assets denominated in Bolivar Fuertes as of March 31, 2011 which are subject to changes in value based on changes in the Transaction System for Foreign Currency Denominated Securities ("SITME") rate. Foreign currency exchange through the SITME is allowed within a specified band of 4.5 to 5.3 Bolivar Fuerte to U.S. Dollar, but most of the exchanges have been executed at the rate of 5.3 Bolivar Fuerte to U.S. Dollar. During the three months ended March 31, 2011, the Company's Venezuelan operations generated less than 1% of consolidated net sales.

- Definition

Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References+ Details

Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2011

Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)

Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)

Footnote 2 — Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)

On August 2, 2010, the Company entered into an accelerated stock buyback program (the "ASB") with Goldman, Sachs & Co. ("Goldman Sachs"). Under the ASB, on August 10, 2010, the Company paid Goldman Sachs an initial purchase price of $500.0 million, and Goldman Sachs delivered to the Company approximately 25.8 million shares of common stock, representing approximately 80% of the shares expected to be purchased under the program at the time the program was announced based on a per share amount of $15.50. The final number of shares that the Company purchased under the ASB was determined based on the average of the daily volume-weighted average share prices of the Company's common stock from August 11, 2010 until March 21, 2011, subject to certain adjustments. Based on a calculated per share price of $17.95, Goldman Sachs delivered approximately 2.0 million additional shares to the Company on March 24, 2011 in connection with the completion of the ASB, and such shares were immediately retired.

The following table displays the components of accumulated other comprehensive loss as of March 31, 2011 (in millions):


	Foreign Currency Translation Loss			Unrecognized Pension & Other Postretirement Costs, net of tax			Derivative Hedging Loss, net of tax			Accumulated Other Comprehensive Loss

Balance at December 31, 2010	$	(179.4	)	$	(425.4	)	$	(0.2	)	$	(605.0	)

Current period change		45.4			7.3			(2.9	)		49.8

Balance at March 31, 2011	$	(134.0	)	$	(418.1	)	$	(3.1	)	$	(555.2	)

Comprehensive income amounted to the following for the three months ended March 31, (in millions):


	2011		2010

Net income	$	75.7	$	58.4
Foreign currency translation		45.4		(33.0)
Unrecognized pension & other postretirement costs, including translation effects, net of tax expense of $(1.6) in 2011 and including tax benefits of $7.3 in 2010		7.3		14.5
Derivative hedging loss, net of tax benefit of $0.7 and $0.3 in 2011 and 2010, respectively		(2.9)		(0.2)

Comprehensive income (1)	$	125.5	$	39.7

(1)	Comprehensive income attributable to noncontrolling interests was not material for disclosure purposes.

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References+ Details

Restructuring Costs

3 Months Ended

Mar. 31, 2011

Restructuring Costs

Restructuring Costs

Footnote 3 — Restructuring Costs

European Transformation Plan

In June 2010, the Company announced a program to simplify and centralize its European business (the "European Transformation Plan"). The European Transformation Plan includes initiatives designed to transform the European organizational structure and processes to centralize certain operating activities, improve performance, leverage the benefits of scale and to contribute to a more efficient and cost effective implementation of an enterprise resource planning program in Europe, all with the aim of increasing operating margin in the European region to at least ten percent.

The European Transformation Plan is expected to be completed in 2012 and is expected to result in cumulative restructuring charges totaling between $40 and $45 million, substantially all of which are employee-related cash costs, including severance, retirement, and other termination benefits and relocation costs. The Company also expects to incur an additional $70 to $75 million of selling, general and administrative expenses, otherwise referred to as restructuring-related charges, to implement the European Transformation Plan. During the three months ended March 31, 2011, restructuring and restructuring-related charges incurred in connection with the European Transformation Plan were $5.8 million and $5.3 million, respectively. To date, the Company has incurred $5.8 million of restructuring charges and $20.5 million of restructuring-related charges under the European Transformation Plan. Restructuring-related charges are included in selling, general and administrative expenses in the Condensed Consolidated Statements of Income for the three months ended March 31, 2011 and are reflected in the Europe, Middle East and Africa operating income for the three months ended March 31, 2011 in Footnote 12 of the Notes to Condensed Consolidated Financial Statements. The Company expects all restructuring and restructuring-related costs under the European Transformation Plan to be substantially incurred by the end of the year ending December 31, 2011.

Restructuring provisions were determined based on estimates prepared at the time the restructuring actions were approved by management, are periodically updated for changes and also include amounts recognized as incurred. The following table depicts the changes in accrued restructuring reserves for the European Transformation Plan for the three months ended March 31, 2011 (in millions):


	December 31, 2010 Balance		Provision		Costs Incurred			March 31, 2011 Balance

Employee severance, termination benefits and relocation costs	$	—	$	5.8	$	(0.9	)	$	4.9

Project Acceleration

In 2010, the Company completed a global initiative referred to as Project Acceleration aimed at strengthening and transforming the Company's portfolio. Project Acceleration was designed to reduce manufacturing overhead, better align the Company's distribution and transportation processes to achieve logistical excellence, and reorganize the Company's overall business structure to align with the Company's core organizing concept, the global business unit, to achieve best total cost. The table below summarizes the restructuring costs recognized for Project Acceleration restructuring activities for the periods indicated (in millions):


	Three Months Ended March 31,
	2011		2010

Facility and other exit costs	$	—	$	0.9
Employee severance, termination benefits and relocation costs		—		13.8
Exited contractual commitments and other		—		1.3

	$	—	$	16.0

A summary of accrued restructuring reserves as of and for the three months ended March 31, 2011 is as follows (in millions):


	December 31, 2010 Balance		Provision		Costs Incurred			March 31, 2011 Balance

Employee severance, termination benefits and relocation costs	$	22.2	$	—	$	(9.9	)	$	12.3
Exited contractual commitments and other		11.3		—		(1.0	)		10.3

	$	33.5	$	—	$	(10.9	)	$	22.6

The following table depicts the changes in accrued restructuring reserves for the three months ended March 31, 2011 aggregated by reportable business segment (in millions):


Segment	December 31, 2010 Balance		Provision		Costs Incurred			March 31, 2011 Balance

Home & Family	$	4.0	$	—	$	(1.5	)	$	2.5
Office Products		11.1		—		(3.0	)		8.1
Tools, Hardware & Commercial Products		4.8		—		(0.6	)		4.2
Corporate		13.6		—		(5.8	)		7.8

	$	33.5	$	—	$	(10.9	)	$	22.6

The table below shows restructuring costs recognized for all restructuring activities for the periods indicated, aggregated by reportable business segment (in millions):


	Three Months Ended March 31,
Segment	2011		2010

Home & Family	$	—	$	3.3
Office Products		—		5.4
Tools, Hardware & Commercial Products		—		1.3
Corporate		5.8		6.0

	$	5.8	$	16.0

Cash paid for all restructuring activities was $11.8 million and $16.1 million for the three months ended March 31, 2011 and 2010, respectively.

Inventories, Net

3 Months Ended

Mar. 31, 2011

Inventories, Net

Inventories, Net

Footnote 4 — Inventories, Net

Inventories are stated at the lower of cost or market value. The components of net inventories were as follows (in millions):


	March 31, 2011		December 31, 2010

Materials and supplies	$	149.8	$	116.8
Work in process		140.3		101.0
Finished products		554.6		483.8

	$	844.7	$	701.6

Debt

3 Months Ended

Mar. 31, 2011

Debt

Debt

Footnote 5 — Debt

The following is a summary of outstanding debt (in millions):


	March 31, 2011			December 31, 2010

Medium-term notes		$1,614.4		$	1,623.0
Term loan		150.0			150.0
Convertible notes		0.3			17.5
Junior convertible subordinated debentures		436.7			436.7
Commercial paper		174.0			34.0
Receivables facility		150.0			100.0
Other debt		7.0			7.7

Total debt		2,532.4			2,368.9
Short-term debt		(325.0	)		(135.0)
Current portion of long-term debt		(411.1	)		(170.0)

Long-term debt		$1,796.3		$	2,063.9

Interest Rate Swaps

As of March 31, 2011, the Company had entered into fixed-for-floating interest rate swaps designated as fair value hedges. The interest rate swaps relate to $1.0 billion of the principal amount of the medium-term notes and result in the Company effectively paying a floating rate of interest on the medium-term notes subject to the interest rate swaps. The medium-term note balances at March 31, 2011 and December 31, 2010 include mark-to-market adjustments of $33.7 million and $42.3 million, respectively, to record the fair value of the hedges of the fixed-rate debt, and the mark-to-market adjustments had the effect of increasing the reported value of the medium-term notes. The interest rate swaps had the effect of reducing interest expense by $7.7 million and $7.8 million for the three months ended March 31, 2011 and 2010, respectively, compared to the stated rates of the underlying medium-term notes.

Medium-term Notes

As of March 31, 2011, the current portion of long-term debt includes $250.0 million principal amount of the 6.75% senior notes due March 2012.

Convertible Notes

In September 2010, the Company completed an exchange of newly issued shares of common stock and cash for $324.7 million of the $345.0 million outstanding principal amount of the Convertible Notes (the "Exchange Offer"). In the aggregate, the Company paid approximately $52.0 million in cash and issued approximately 37.7 million shares of the Company's common stock for $324.7 million principal amount of the Convertible Notes validly offered for exchange by the holders pursuant to the Exchange Offer.

In March 2011, the Company completed exchanges of newly issued shares of common stock and cash for an additional $20.0 million outstanding principal amount of Convertible Notes. The Company paid approximately $3.1 million in cash and issued approximately 2.3 million shares of the Company's common stock for the $20.0 million principal amount of Convertible Notes. The Company determined that the fair value of total consideration (including cash) paid to the holders of Convertible Notes, using the fair market value of common stock at settlement, was $47.4 million. In accordance with the applicable authoritative accounting guidance, the Company determined the fair value of the liability component of the Convertible Notes received, with the residual value representing the equity component. The excess of the fair value of the liability component, or $21.8 million, over the carrying value of the Convertible Notes exchanged, $17.3 million, was recognized as a loss related to the extinguishment of debt during the three months ended March 31, 2011. Including the write-off of unamortized issuance costs, the Company recorded a pretax loss of $4.8 million, which is included in loss related to extinguishment of debt in the Condensed Consolidated Statement of Income for the three months ended March 31, 2011. Further, the value of shares issued increased stockholders' equity by $44.3 million, and the value of the equity component of the Convertible Notes received and extinguished reduced stockholders' equity by $25.6 million during the three months ended March 31, 2011. As of March 31, 2011, $0.3 million principal amount of the Convertible Notes remained outstanding.

Term Loan

In September 2008, the Company entered into a $400.0 million credit agreement (the "Agreement"), under which the Company received an unsecured three-year term loan in the amount of $400.0 million (the "Term Loan"). As of March 31, 2011, the Company is required to repay the remaining outstanding principal amount of $150.0 million in September 2011, the maturity date. Borrowings under the Agreement bear interest at a rate of LIBOR plus a spread that is determined based on the credit rating of the Company, and interest is payable no less frequently than monthly. The $150.0 million of outstanding borrowings under the Agreement at March 31, 2011 bear interest at the rate of 2.3%. The Agreement has covenants similar to those in the Company's syndicated revolving credit facility, including, among other things, the maintenance of interest coverage and total indebtedness to total capital ratios and a limitation on the amount of indebtedness subsidiaries may incur, and the Company was in compliance with such covenants as of March 31, 2011.

Junior Convertible Subordinated Debentures

In 1997, a 100% owned finance subsidiary (the "Subsidiary") of the Company issued 10.0 million shares of 5.25% convertible preferred securities (the "Preferred Securities"). Each of these Preferred Securities is convertible into 0.9865 of a share of the Company's common stock. As of March 31, 2011, the Company fully and unconditionally guarantees the 8.4 million shares of the Preferred Securities issued by the Subsidiary that were outstanding as of that date, which are callable at 100% of the liquidation preference of $421.2 million. The proceeds received by the Subsidiary from the issuance of the Preferred Securities were invested in the Company's 5.25% Junior Convertible Subordinated Debentures (the "Debentures"), which mature on December 1, 2027. The Preferred Securities are mandatorily redeemable upon the repayment of the Debentures at maturity or upon acceleration of the Debentures. As of March 31, 2011, the Company has not elected to defer interest payments on the $436.7 million of outstanding Debentures.

Receivables-Related Borrowings

The Company maintains a 364-day receivables facility that provides for borrowings of up to $200.0 million and expires in September 2011 (the "Receivables Facility"). Under this facility, the Company and certain operating subsidiaries (collectively, "the Originators") sell their receivables to a financing subsidiary as the receivables are originated. The financing subsidiary is wholly owned by the Company and is the owner of the purchased receivables and the borrower under the facility. The assets of the financing subsidiary are restricted as collateral for the payment of debt or other obligations arising under the facility, and the financing subsidiary's assets and credit are not available to satisfy the debts and obligations owed to the Company's or any other Originator's creditors. The Company includes the financing subsidiary's assets, liabilities and results of operations in its consolidated financial statements. The Receivables Facility requires, among other things, that the Company maintain certain interest coverage and total indebtedness to total capital ratios, and the Company was in compliance with such requirements as of March 31, 2011. As of March 31, 2011, the financing subsidiary owned $624.3 million of outstanding accounts receivable, and these amounts are included in accounts receivable, net in the Company's Condensed Consolidated Balance Sheet at March 31, 2011. As of March 31, 2011, the Company had outstanding borrowings of $150.0 million under the facility which are classified as short-term borrowings, and the Company had $50.0 million available for borrowing under the facility. The $150.0 million of outstanding borrowings under the facility at March 31, 2011 bear interest at a weighted average rate of 1.3%.

Revolving Credit Facility and Commercial Paper

The Company currently has $665.0 million available for borrowing under a syndicated revolving credit facility which expires in November 2012 (the "Revolver"). At March 31, 2011, there were no borrowings under the Revolver. The Revolver permits the Company to borrow funds on a variety of interest rate terms. The Revolver requires, among other things, that the Company maintain certain interest coverage and total indebtedness to total capital ratios, as defined in the agreement. The Revolver also limits the amount of indebtedness subsidiaries may incur. As of March 31, 2011, the Company was in compliance with the provisions of the agreement governing the Revolver.

In lieu of borrowings under the Revolver, the Company may issue up to $665.0 million of commercial paper. The Revolver provides the committed backup liquidity required to issue commercial paper. Accordingly, commercial paper may be issued only up to the amount available for borrowing under the Revolver. As of March 31, 2011 and December 31, 2010, the Company had outstanding commercial paper obligations of $174.0 million and $34.0 million, respectively. The Revolver also provides for the issuance of up to $100.0 million of standby letters of credit so long as there is a sufficient amount available for borrowing under the Revolver. There were no standby letters of credit issued or outstanding under the Revolver as of March 31, 2011.

Derivatives

3 Months Ended

Mar. 31, 2011

Derivatives

Derivatives

Footnote 6 — Derivatives

The use of financial instruments, including derivatives, exposes the Company to market risk related to changes in interest rates, foreign currency exchange rates and commodity prices. The Company enters into interest rate swaps related to debt obligations with initial maturities ranging from five to ten years. The Company uses interest rate swap agreements to manage its interest rate exposure and to achieve a desired proportion of variable and fixed-rate debt. These derivatives are designated as fair value hedges based on the nature of the risk being hedged. The Company also uses derivative instruments, such as forward contracts, to manage the risk associated with the volatility of future cash flows denominated in foreign currencies and changes in fair value resulting from changes in foreign currency exchange rates. The Company's foreign exchange risk management policy generally emphasizes hedging transaction exposures of one-year duration or less and hedging foreign currency intercompany financing activities with derivatives with maturity dates of one year or less. The Company uses derivative instruments to hedge various foreign exchange exposures, including the following: (i) variability in foreign currency-denominated cash flows, such as the hedges of inventory purchases for products produced in one currency and sold in another currency and (ii) currency risk associated with foreign currency-denominated operating assets and liabilities, such as forward contracts and other instruments that hedge cash flows associated with intercompany financing activities. Additionally, the Company purchases certain raw materials which are subject to price volatility caused by unpredictable factors. Where practical, the Company uses derivatives as part of its commodity risk management process. The Company reports its derivative positions in the Condensed Consolidated Balance Sheets on a gross basis and does not net asset and liability derivative positions with the same counterparty. The Company monitors its positions with, and the credit quality of, the financial institutions that are parties to its financial transactions.

Derivative instruments are accounted for at fair value. The accounting for changes in the fair value of a derivative depends on the intended use and designation of the derivative instrument. For a derivative instrument that is designated and qualifies as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is initially reported as a component of accumulated other comprehensive income (loss) ("AOCI"), net of tax, and is subsequently reclassified into earnings when the hedged transaction affects earnings. The ineffective portion of the gain or loss is recognized in current earnings. Gains and losses from changes in fair values of derivatives that are not designated as hedges for accounting purposes are recognized currently in earnings, and such amounts were not material for the three months ended March 31, 2011 and 2010.

The following table summarizes the Company's outstanding derivative instruments and their effects on the Condensed Consolidated Balance Sheets as of March 31, 2011 and December 31, 2010 (in millions):


		Assets					Liabilities
Derivatives designated as hedging instruments	Balance Sheet Location	March 31, 2011		December 31, 2010		Balance Sheet Location	March 31, 2011		December 31, 2010
Interest rate swaps	Prepaid expenses and other	$	8.0	$	—	Other accrued liabilities	$	—	$	—
Interest rate swaps	Other noncurrent assets		25.7		42.3	Other noncurrent liabilities		—		—
Foreign exchange contracts on inventory-related purchases	Prepaid expenses and other		0.1		1.4	Other accrued liabilities		4.3		2.0
Foreign exchange contracts on intercompany borrowings	Prepaid expenses and other		0.5		1.2	Other accrued liabilities		0.3		—

Total assets		$	34.3	$	44.9	Total liabilities	$	4.6	$	2.0

The fair values of outstanding derivatives that are not designated as hedges for accounting purposes were not material as of March 31, 2011 and December 31, 2010.

The Company is a party to an interest rate swap in an asset position; in the event the interest rate swap is in a liability position, settlement could be accelerated if the Company's credit rating falls below investment-grade. The Company is not a party to any derivatives that require collateral to be posted prior to settlement.

Fair Value Hedges

The following table presents the pretax effects of derivative instruments designated as fair value hedges on the Company's Condensed Consolidated Statement of Income for the three months ended March 31, (in millions):


Derivatives in fair value relationships	Location of gain (loss) recognized in income		Amount of gain (loss) recognized in income
Derivatives in fair value relationships	Location of gain (loss) recognized in income		2011			2010
Interest rate swaps		Interest expense, net	$	(8.6	)	$	14.4

Fixed-rate debt		Interest expense, net	$	8.6		$	(14.4)

The Company did not record any ineffectiveness related to fair value hedges during the three months ended March 31, 2011 and 2010.

Cash Flow Hedges

The following table presents the pretax effects of derivative instruments designated as cash flow hedges on the Company's Condensed Consolidated Statement of Income and AOCI for the three months ended March 31, (in millions):


Derivatives in cash flow hedging relationships	Location of gain (loss) recognized in income		Amount of gain (loss) reclassified from AOCI into income						Amount of gain (loss) recognized in AOCI
Derivatives in cash flow hedging relationships	Location of gain (loss) recognized in income		2011			2010			2011			2010
Foreign exchange contracts on inventory-related purchases		Cost of products sold	$	(1.6	)	$	(0.1	)	$	(5.3	)	$	(0.6)
Foreign exchange contracts on intercompany borrowings		Interest expense, net		(0.1	)		0.1			(1.9	)		2.4

			$	(1.7	)	$	—		$	(7.2	)	$	1.8

The Company did not record any ineffectiveness related to cash flow hedges during the three months ended March 31, 2011 and 2010.

The Company estimates that during the next 12 months it will reclassify losses of approximately $4.3 million included in the pretax amount recorded in AOCI as of March 31, 2011 into earnings, as the anticipated cash flows occur.

Employee Benefit and Retirement Plans

3 Months Ended

Mar. 31, 2011

Employee Benefit and Retirement Plans

Employee Benefit and Retirement Plans

Footnote 7 — Employee Benefit and Retirement Plans

The following table presents the components of the Company's pension cost, including supplemental retirement plans, for the three months ended March 31, (in millions):


	U.S.						International

	2011			2010			2011			2010

Service cost-benefits earned during the period	$	1.4		$	1.3		$	1.4		$	1.5
Interest cost on projected benefit obligation		12.7			12.9			6.3			7.2
Expected return on plan assets		(14.6	)		(14.1	)		(6.5	)		(6.3)
Amortization of prior service cost and actuarial loss		4.4			3.2			0.3			0.5

Net periodic pension cost	$	3.9		$	3.3		$	1.5		$	2.9

The following table presents the components of the Company's other postretirement benefit costs for the three months ended March 31, (in millions):


	2011			2010

Service cost-benefits earned during the period	$	0.3		$	0.4
Interest cost on projected benefit obligation		2.1			2.3
Amortization of prior service benefit and actuarial loss, net		(0.3	)		(0.4)

Net other postretirement benefit costs	$	2.1		$	2.3

The Company made a cash contribution to the Company-sponsored profit sharing plan of $17.6 million and $17.1 million during the three months ended March 31, 2011 and 2010, respectively.

- Definition

Description containing the entire pension and other postretirement benefits disclosure as a single block of text.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 8

-Subparagraph m

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph a

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph h

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph q

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2011
Income Taxes
Income Taxes	Footnote 8 — Income Taxes As of March 31, 2011, there were no significant changes to the Company's unrecognized tax benefits as reported in its Form 10-K for the year ended December 31, 2010. The Company's income tax expense and resulting effective tax rate are based upon the respective estimated annual effective tax rates applicable for the respective periods adjusted for the effect of items required to be treated as discrete to the period, including adjustments to write down deferred tax assets determined not to be realizable due to the vesting or cancellation of equity-based compensation awards, changes in tax laws, changes in estimated exposures for uncertain tax positions, and other items. The Company's effective tax rate for the three months ended March 31, 2011 was favorably impacted by a change in the geographical mix in earnings.

Earnings per Share

3 Months Ended

Mar. 31, 2011

Earnings per Share

Earnings per Share

Footnote 9 — Earnings per Share

The calculation of basic and diluted earnings per share is shown below for the three months ended March 31, (in millions, except per share data):


	2011		2010

Numerator for basic and diluted earnings per share:
Net income	$	75.7	$	58.4
Dividends and equivalents for share-based awards expected to be forfeited		—		—

Net income for basic earnings per share	$	75.7	$	58.4

Effect of Preferred Securities (1)		—		—

Net income for diluted earnings per share	$	75.7	$	58.4

Denominator:
Weighted-average shares outstanding		291.2		278.0
Share-based payment awards classified as participating securities		3.0		3.1

Denominator for basic earnings per share		294.2		281.1
Dilutive securities (2)		3.1		1.8
Convertible Notes (3)		0.9		16.5
Warrants (4)		—		8.4
Preferred Securities (1)		—		—

Denominator for diluted earnings per share		298.2		307.8

Basic earnings per share	$	0.26	$	0.21
Diluted earnings per share	$	0.25	$	0.19

(1)

The Preferred Securities are anti-dilutive for each of the three months ended March 31, 2011 and 2010, and therefore have been excluded from diluted earnings per share. Had the Preferred Securities been included in the diluted earnings per share calculation, net income would be increased by $3.5 million and weighted-average shares outstanding would be increased by 8.3 million shares for each of the three months ended March 31, 2011 and 2010.

(2)

Dilutive securities include "in the money" options, non-participating restricted stock units and performance share awards. The weighted-average shares outstanding exclude the effect of approximately 12.3 million and 13.1 million stock options for the three months ended March 31, 2011 and 2010, respectively, because such options were anti-dilutive.

(3)

The Convertible Notes are dilutive to the extent the average price during the period is greater than $8.61, the conversion price of the Convertible Notes, and the Convertible Notes are only dilutive for the "in the money" portion of the Convertible Notes that could be settled with the Company's stock. The Convertible Notes were dilutive for the three months ended March 31, 2011 and 2010, as the average price of the Company's common stock during the three months ended March 31, 2011 and 2010 was greater than $8.61. As disclosed in Footnote 5 of the Notes to Condensed Consolidated Financial Statements, substantially all of the remaining outstanding principal amount of the Convertible Notes were extinguished in March 2011, and as such, dilution for the three months ended March 31, 2011 takes into consideration the period of time the Convertible Notes were outstanding. The Convertible Notes will not meaningfully impact diluted average shares outstanding in subsequent periods because the maximum amount of shares required to settle the "in the money" portion of the $0.3 million of Convertible Notes outstanding as of March 31, 2011 is less than 0.1 million shares.

(4)

The warrant transaction was settled during September 2010 and as such the warrants will not impact diluted average shares outstanding in subsequent periods. The warrants were dilutive for the three months ended March 31, 2010, as the average price of the Company's common stock during the three months ended March 31, 2010 was greater than $11.59, the exercise price of the warrants.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2011

Stock-Based Compensation

Stock-Based Compensation

Footnote 10 — Stock-Based Compensation

The Company accounts for stock-based compensation pursuant to certain authoritative guidance which requires measurement of compensation cost for all stock awards at fair value on the date of grant and recognition of compensation, net of estimated forfeitures, over the requisite service period for awards expected to vest. The Company recognized $8.1 million and $10.5 million of pretax stock-based compensation during the three months ended March 31, 2011 and 2010, respectively.

In determining the fair value of stock options granted during the three months ended March 31, 2011, the Company utilized its historical experience to estimate the expected life of the options and volatility.

The following table summarizes the changes in the number of shares of common stock under option for the three months ended March 31, 2011 (shares in millions):


	Shares		Weighted Average Exercise Price		Exercisable at Period End		Aggregate Intrinsic Value Exercisable

Outstanding at December 31, 2010		16.3	$	22		8.9	$	1.5
Granted		0.8		20
Forfeited / expired		(0.4)		23

Outstanding at March 31, 2011		16.7	$	21		9.8	$	1.6

The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the three months ended March 31, 2011 (shares in millions):


	Shares			Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2010		5.2		$	13
Granted		1.1			20
Vested		(0.6	)		22
Forfeited		(0.1	)		11

Outstanding at March 31, 2011		5.6		$	13

During the three months ended March 31, 2011, the Company awarded approximately 0.5 million performance-based restricted stock units which entitle recipients to shares of the Company's stock at the end of a three-year vesting period if specified market conditions are achieved. The performance-based restricted stock units entitle recipients to shares of common stock equal to 0% up to 200% of the number of units granted at the vesting date depending on the level of achievement of the specified conditions. As of March 31, 2011, 2.3 million performance-based restricted stock units were outstanding, and based on performance through March 31, 2011, recipients of performance-based restricted stock units would be entitled to 3.1 million shares at the vesting date. The performance-based restricted stock units are included in the preceding table as if the participants earn shares equal to 100% of the units granted.

Fair Value Disclosures

3 Months Ended

Mar. 31, 2011

Fair Value Disclosures

Fair Value Disclosures

Footnote 11 — Fair Value Disclosures

Recurring Fair Value Measurements

The following tables present the Company's non-pension financial assets and liabilities which are measured at fair value on a recurring basis as of March 31, 2011 and December 31, 2010 (in millions):


Description	Fair Value as of March 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Assets
Money market fund investments (1)	$	11.5	$	—	$	11.5	$	—
Investment securities, including mutual funds (2)		24.0		7.6		16.4		—
Interest rate swaps		33.7		—		33.7		—
Foreign currency derivatives		0.6		—		0.6		—

Total	$	69.8	$	7.6	$	62.2	$	—

Liabilities
Foreign currency derivatives	$	4.6	$	—	$	4.6	$	—

Total	$	4.6	$	—	$	4.6	$	—


Description	Fair Value as of December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Assets
Money market fund investments (1)	$	10.5	$	—	$	10.5	$	—
Investment securities, including mutual funds (2)		22.7		7.4		15.3		—
Interest rate swaps		42.3		—		42.3		—
Foreign currency derivatives		2.6		—		2.6		—

Total	$	78.1	$	7.4	$	70.7	$	—

Liabilities
Foreign currency derivatives	$	2.0	$	—	$	2.0	$	—

Total	$	2.0	$	—	$	2.0	$	—

(1)

Investments in money market funds are classified as cash equivalents due to their short-term nature and the ability for them to be readily converted into cash. Investments in money market funds are valued at the net asset value per share or unit multiplied by the number of shares or units held as of the measurement date and, accordingly, have been classified as Level 2 investments.

(2)

The values of investment securities, including mutual funds, are classified as cash and cash equivalents ($7.6 million and $7.4 million as of March 31, 2011 and December 31, 2010, respectively) and other assets ($16.4 million and $15.3 million as of March 31, 2011 and December 31, 2010, respectively). For mutual funds that are publicly traded, fair value is determined on the basis of quoted market prices and, accordingly, these investments have been classified as Level 1. Other investment securities are valued at the net asset value per share or unit multiplied by the number of shares or units held as of the measurement date and have been classified as Level 2.

Non-recurring Fair Value Measurements

The Company's nonfinancial assets which are measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill, intangible assets and certain other assets. During the three months ended March 31, 2011, impairments associated with plans to dispose of certain property, plant and equipment were not material. The Company generally uses projected cash flows, discounted as necessary, to estimate the fair values of the impaired assets using key inputs such as management's projections of cash flows on a held-and-used basis (if applicable), management's projections of cash flows upon disposition and discount rates. Accordingly, these fair value measurements fall in Level 3 of the fair value hierarchy. These assets and certain liabilities are measured at fair value on a nonrecurring basis as part of the Company's impairment assessments and as circumstances require. During the three months ended March 31, 2011, no nonrecurring fair value measurements were required for testing goodwill and other indefinite-lived intangible assets for impairment.

Financial Instruments

The Company's financial instruments include cash and cash equivalents, accounts receivable, accounts payable, derivative instruments, notes payable and short and long-term debt. The carrying values for current financial assets and liabilities, including cash and cash equivalents, accounts receivable and accounts payable, approximate fair value due to the short maturity of such instruments. The fair values of the Company's derivative instruments are recorded in the Condensed Consolidated Balance Sheets and are disclosed in Footnote 6. The fair values of certain of the Company's short and long-term debt are based on quoted market prices and are as follows (in millions):


	March 31, 2011				December 31, 2010
	Fair Value		Book Value		Fair Value		Book Value
Medium-term notes	$	1,656.1	$	1,614.4	$	1,650.7	$	1,623.0
Preferred securities underlying the junior convertible subordinated debentures		403.6		421.2		353.8		421.2

The carrying amounts of all other significant debt, including the term loan, approximate fair value. The term loan is not publicly traded and accordingly, the fair value of this instrument was determined using a discounted cash flow model and market rates of interest as of March 31, 2011.

- Definition

This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Segment Information

3 Months Ended

Mar. 31, 2011

Segment Information

Segment Information

Footnote 12 — Segment Information

The Company's reportable segments are as follows:


Segment	Key Brands	Description of Primary Products


Home & Family	Rubbermaid^®, Graco^®, Aprica^®, Levolor^®, Calphalon^®, Goody^®	Indoor/outdoor organization, food storage and home storage products; infant and juvenile products such as car seats, strollers, highchairs and playards; drapery hardware, window treatments and cabinet hardware; gourmet cookware, bakeware, cutlery and small kitchen electrics; hair care accessories

Office Products	Sharpie^®, Expo^®, Dymo^®, Mimio^®, Paper Mate^®, Parker^®, Waterman^®	Writing instruments, including pens, pencils, markers and highlighters, and art products; fine writing instruments and leather goods; office technology solutions such as label makers and printers, interactive teaching solutions and on-line postage

Tools, Hardware & Commercial Products	Lenox^®, Rubbermaid^® Commercial Products, Irwin^®, Shur-line^®, Bulldog^®, BernzOmatic^®	Industrial bandsaw blades and cutting tools for pipes and HVAC systems; hand tools and power tool accessories; manual paint applicators, window hardware, convenience hardware and propane torches; cleaning and refuse products, hygiene systems, material handling solutions and medical and computer carts and wall-mounted work stations

The Company's segment results are as follows (in millions):


	Three Months Ended March 31,
	2011			2010

Net Sales (1)
Home & Family	$	534.1		$	556.9
Office Products		364.9			351.6
Tools, Hardware & Commercial Products		403.7			397.9

	$	1,302.7		$	1,306.4


Operating Income (Loss) (2)
Home & Family	$	56.6		$	68.8
Office Products		54.9			47.3
Tools, Hardware & Commercial Products		49.4			51.6
Corporate		(24.5	)		(21.6)
Restructuring costs		(5.8	)		(16.0)

	$	130.6		$	130.1


	March 31, 2011		December 31, 2010

Identifiable Assets
Home & Family	$	935.7	$	896.4
Office Products		1,036.1		972.0
Tools, Hardware & Commercial Products		972.1		931.5
Corporate (3)		3,693.3		3,605.4

	$	6,637.2	$	6,405.3

Geographic Area Information


	Three Months Ended March 31,
	2011		2010

Net Sales (1), (4)
United States	$	868.0	$	904.6
Canada		81.5		78.0

Total North America		949.5		982.6
Europe, Middle East and Africa		188.5		188.8
Latin America		73.1		55.7
Asia Pacific		91.6		79.3

Total International		353.2		323.8

	$	1,302.7	$	1,306.4


	Three Months Ended March 31,
	2011		2010

Operating Income (2), (5)
United States	$	79.9	$	101.7
Canada		12.9		15.3

Total North America		92.8		117.0
Europe, Middle East and Africa		15.1		0.1
Latin America		5.4		2.3
Asia Pacific		17.3		10.7

Total International		37.8		13.1

	$	130.6	$	130.1

(1)	All intercompany transactions have been eliminated. Sales to Wal-Mart Stores, Inc. and subsidiaries amounted to approximately 9% and 13% of consolidated net sales in the three months ended March 31, 2011 and 2010, respectively.

(2)

Operating income by segment is net sales less cost of products sold and selling, general & administrative ("SG&A") expenses. Operating income by geographic area is net sales less cost of products sold, SG&A expenses, and restructuring and related costs. Certain headquarters expenses of an operational nature are allocated to business segments and geographic areas primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of sales basis, and the allocated depreciation and amortization is included in segment operating income.

(3)	Corporate assets primarily include goodwill, capitalized software, cash and deferred tax assets.

(4)	Geographic sales information is reported by based on the region from which the products are shipped and invoiced.

(5)	The following table summarizes the restructuring costs by region included in operating income above:


	Three Months Ended March 31,
	2011		2010

Restructuring Costs:
United States	$	—	$	6.3
Canada		—		—

Total North America		—		6.3
Europe, Middle East and Africa		5.8		8.2
Latin America		—		—
Asia Pacific		—		1.5

Total International		5.8		9.7

	$	5.8	$	16.0

Litigation and Contingencies	3 Months Ended
Litigation and Contingencies	Mar. 31, 2011
Litigation and Contingencies
Litigation and Contingencies	Footnote 13 — Litigation and Contingencies The Company is involved in legal proceedings in the ordinary course of its business. These proceedings include claims for damages arising out of use of the Company's products, allegations of infringement of intellectual property, commercial disputes and employment matters, as well as environmental matters. Some of the legal proceedings include claims for punitive as well as compensatory damages, and certain proceedings may purport to be class actions. In the normal course of business and as part of its acquisition and divestiture strategy, the Company may provide certain representations and indemnifications related to legal, environmental, product liability, tax or other types of issues. Based on the nature of these representations and indemnifications, it is not possible to predict the maximum potential payments under all of these agreements due to the conditional nature of the Company's obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements did not have a material effect on the Company's business, financial condition or results of operations. In July 2007, the Company acquired all of the outstanding equity interests of PSI Systems, Inc. ("Endicia"), provider of DYMO\|Endicia Internet Postage. Endicia is party to a lawsuit against it alleging patent infringement which was filed on November 22, 2006 in the U.S. District Court for the Central District of California. In this case, Stamps.com seeks unspecified damages, attorneys' fees and injunctive relief in order to prevent Endicia from continuing to engage in activities that are alleged to infringe on Stamps.com's patents. In 2010, the Court entered judgment in favor of the Company terminating the action on summary judgment, and Stamps.com has appealed that judgment. A separate case, in which Endicia and Stamps.com each claim infringement of different patents, remains pending in the same court. There can be no assurance the Company will prevail on appeal or otherwise be successful in defending itself in these matters. The City of Sao Paulo's Green and Environmental Office (the "Sao Paulo G&E Office") is seeking fines of up to approximately $4.0 million related to alleged improper storage of hazardous materials at the Company's tool manufacturing facility located in Sao Paulo, Brazil. The Company has obtained a stay of enforcement of a notice of fine due October 1, 2009 issued by the Sao Paulo G&E Office. The Company plans to continue to contest the fines. The Company (through two of its affiliates) has been involved in litigation originally filed in June 2008 in the U.S. District Court for the Western District of North Carolina with Worthington Cylinders (the "Supplier") over breach of a supply contract and price increases levied by the Supplier after having wrongfully terminated the contract prior to its expiration. In February 2010, a jury determined that the Supplier: (a) breached the supply agreement; (b) illegally traded upon the goodwill of the Company; and (c) committed deceptive trade practices in violation of relevant laws. The jury awarded damages of $13.0 million to the Company, and the Company was subsequently awarded an additional $2.8 million in pre-judgment interest and attorneys' fees. The Supplier has appealed the judgment. Under the relevant authoritative accounting guidance, the Company has not recorded any gains during the three months ended March 31, 2011 or any earlier period related to the favorable jury verdict and intends to withhold such action until all contingencies relating to this matter have been resolved. Although management of the Company cannot predict the ultimate outcome of these legal proceedings with certainty, it believes that the ultimate resolution of the Company's legal proceedings, including any amounts it may be required to pay in excess of amounts reserved, will not have a material effect on the Company's condensed consolidated financial statements.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2011
Subsequent Events
Subsequent Events	Footnote 14 — Subsequent Events No significant events occurred subsequent to the balance sheet date but prior to the issuance of the financial statements that would have a material impact on the Company's condensed consolidated financial statements.