had received an assessment from the State of Florida in the amount
of $4.4 million for rental tax, interest and penalties related to
payments made by us to Cardbeck from June 2000 to February 2005. The
State of Florida has asserted that this transaction is subject to
commercial rental tax in accordance with applicable state laws and
requested Cardbeck to pay this assessment. During the second
quarter 2007, we recorded an accrual of $2.4 million ($1.6 million
sales tax and $.8 million in interest) for the anticipated amount of
c) NexGen Acquisition - In November 2007, we acquired the remaining
80.1% interest in NexGen for a total purchase price of $36 million.
NexGen is a development stage enterprise, which was formed in
connection with the acquisition of Lumigen in the prior year.
Approximately $35 million of the purchase price was allocated to in-
process research and development ("IPR&D") during the fourth quarter
since the acquired IPR&D technology is currently at the beginning of
the applied research phase and will require significant costs to
bring it out of the research stage.
d) Miami Vacant Land Sale - In 2007, we sold vacant land adjacent to
our Miami, Florida facility for $30.0 million. An additional $1.2
million remains in escrow for a portion of the land for which title
is in dispute. We acquired the parcel of vacant land as part of our
1997 acquisition of Coulter Corporation. The gain on sale of $26.2
million was recorded in other non-operating income during the third
e) Beckman Coulter Foundation - Using proceeds from the Miami vacant
land sale, we made a
|SOURCE Beckman Coulter, Inc.|
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