Sales Property, Plant and Equipment and Goodwill 2011 2010 2011 2010 Canada $ 108,138 $ 99,463 $ 111,228 $ 118,019 United States and Puerto Rico 460,428 459,964 307,985 310,483 Mexico and Brazil 150,417 126,620 135,725 139,842 Europe 435,749 407,185 379,519 376,945 Asia, Australia and Africa 113,745 99,086 109,430 109,641 Consolidated $ 1,268,477 $ 1,192,318 $ 1,043,887 $ 1,054,930 The geographical segment is determined by the location of the Company’s country of operation. Transactions with two significant customers in 2011 accounted for approximately $158.0 million and $155.2 million (2010 – $153.8 million and $118.7 million, respectively) of the Company’s total sales. 7. ACQUISITIONS OF SUBSIDIARIES In April 2011, the Company acquired 100% of the shares of Thunder Press Inc., a privately owned label company located near Chicago that operated under the trade name “Sertech”. The acquired business produces patient instructional leaflets, commonly known as inserts and outserts for leading pharmaceutical customers in the United States. The acquisition increases CCL’s exposure to the healthcare sector and brings the Company closer to its customers in the mid-west region of the United States. The purchase price was $7.8 million, net of cash acquired of $0.8 million and inclusive of a promissory note of $1.0 million. During the fourth quarter of 2011, CCL accrued an additional $1.0 million, payable to the seller as consideration for the filing of a joint election to structure the transaction as an asset sale for tax purposes. The total amount of goodwill and intangibles of $6.1 million is expected to be deductible for tax purposes. In March 2010, the Company completed the purchase of Purbrick Pty Ltd. (“Purbrick”), a privately held company based in Melbourne, Australia. Purbrick supplies patient information leaflets and pressure sensitive labels to global pharmaceutical customers located in Australia. The purchase price was $1.2 million, net of cash acquired. No goodwill was recognized on this transaction. 8. CASH AND CASH EQUIVALENTS Dec 31, 2011 Dec 31, 2010 Jan 1, 2010 Bank balances $ 67,560 $ 89,412 $ 74,022 Short-term investments 73,138 83,785 76,572 Cash and cash equivalents $ 140,698 $ 173,197 $ 150,594 9. TRADE AND OTHER RECEIVABLES Dec 31, 2011 Dec 31, 2010 Jan 1, 2010 Trade receivables $ 178,531 $ 154,850 $ 148,688 Other receivables 13,472 19,161 17,811 Trade and other receivables $ 192,003 $ 174,011 $ 166,499 CCL Industries Inc. 2011 Annual Report 61