BEC » Topics » 5. Sale of Assets

These excerpts taken from the BEC 10-K filed Feb 23, 2009.

Note 6. Sale of Assets

During 2008, 2007 and 2006, we sold certain receivables (“Receivables”). The net book value of the Receivables sold in 2008, 2007 and 2006 was $68.4 million, $58.8 million and $80.2 million, respectively, for which we received cash proceeds of approximately $68.6 million, $58.6 million and $80.5 million, respectively. Substantially all of these sales took place in Japan. These transactions were accounted for as sales and as a result the Receivables have been excluded from the accompanying consolidated balance sheets.

On July 30, 2007, we sold our investment in vacant land adjacent to our Miami, Florida facility for approximately $30 million, net of settlement costs. We acquired the parcel of vacant land as part of our 1997 acquisition of Coulter Corporation. In connection with this sale, $26.2 million gain on sale was recorded in other non-operating income during 2007. An additional $1.2 million was held in escrow at December 31, 2007 and released to us in January 2008 following the resolution of a dispute regarding title to a portion of the land.

Note 6. Sale of Assets

FACE="Times New Roman" SIZE="2">During 2008, 2007 and 2006, we sold certain receivables (“Receivables”). The net book value of the Receivables sold in 2008, 2007 and 2006 was $68.4 million, $58.8 million and $80.2 million, respectively,
for which we received cash proceeds of approximately $68.6 million, $58.6 million and $80.5 million, respectively. Substantially all of these sales took place in Japan. These transactions were accounted for as sales and as a result the Receivables
have been excluded from the accompanying consolidated balance sheets.

On July 30, 2007, we sold our investment in vacant land
adjacent to our Miami, Florida facility for approximately $30 million, net of settlement costs. We acquired the parcel of vacant land as part of our 1997 acquisition of Coulter Corporation. In connection with this sale, $26.2 million gain on sale
was recorded in other non-operating income during 2007. An additional $1.2 million was held in escrow at December 31, 2007 and released to us in January 2008 following the resolution of a dispute regarding title to a portion of the land.

This excerpt taken from the BEC 10-K filed Feb 29, 2008.

5. Sale of Assets

During 2007, 2006 and 2005, we sold certain receivables (“Receivables”). The net book value of the Receivables sold in 2007, 2006 and 2005 was $58.8 million, $80.2 million and $117.1 million, respectively, for which we received cash proceeds of approximately $58.6 million, $80.5 million and $119.1 million, respectively. Substantially all of these sales took place in Japan. These transactions were accounted for as sales and as a result the Receivables have been excluded from the accompanying consolidated balance sheets.

On July 30, 2007, we sold our investment in vacant land adjacent to our Miami, Florida facility for approximately $30 million, net of settlement costs. We acquired the parcel of vacant land as part of our 1997 acquisition of Coulter Corporation. The $26.2 million gain on sale was recorded in other non-operating income during 2007. An additional $1.2 million was held in escrow at December 31, 2007 and released to us in January 2008 following the resolution of a dispute regarding title to a portion of the land.

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