Bemis Company 2007 Annual Report - IR Solutions

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SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (in thousands) Balance at Additions Foreign Balance Year Ended Beginning Charged to Currency at Close December 31, of Year Profit & Loss Writeoffs Impact Other of Year RESERVES FOR DOUBTFUL ACCOUNTS AND ALLOWANCES 2007 $20,287 $7,385 $(9,252) (1) $891 $19,311 2006 $19,120 $12,599 $(11,947) (2) $515 $20,287 2005 $16,935 $14,638 $(14,009) (3) $(181) $1,737 (4) $19,120 (1) Net of $396 collections on accounts previously written off. (2) Net of $245 collections on accounts previously written off. (3) Net of $478 collections on accounts previously written off. (4) Acquired with business unit acquisition. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON FINANCIAL STATEMENT SCHEDULE To the Board of Directors of Bemis Company, Inc: Our audits of the consolidated financial statements and of the effectiveness of internal control over financial reporting referred to in our report dated February 28, 2008, appearing in the 2007 Annual Report to Shareholders of Bemis Company, Inc. (which report and consolidated financial statements are included in this Annual Report on Form 10-K) also included an audit of the financial statement schedule listed in Item 15(a)(2) of this Form 10-K. In our opinion, this financial statement schedule presents fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements. PricewaterhouseCoopers LLP Minneapolis, Minnesota February 28, 2008 46
EXHIBIT 21 - SUBSIDIARIES OF THE REGISTRANT The Company has no parent. The following were subsidiaries of the Company as of December 31, 2007. Bemis Company, Inc. Percentage of Jurisdiction Voting Securities of Owned By Name Organization Immediate Parent Missouri Bemis Clysar, Inc. Minnesota 100% Bemis Czech Republic, s.r.o. Czech Republic 100% Bemis Deutschland Holdings GmbH Germany 100% Bemis Packaging Deutschland GmbH Germany 100% Bemis Europe Holdings, S.A. Belgium 100% Bemis Monceau S.A. Belgium 100% Bemis Flexible Packaging de Mexico, S.A. de C.V. Mexico 100% Bemis Flexible Packaging Mexico Servicios, S.A. de C.V. Mexico 100% Bemis France Holdings S.A.S. France 100% Bemis Le Trait S.A.S. France 100% Bemis Epernon S.A.S. France 100% Bemis Hungary Trading Limited Liability Company Hungary 100% Bemis Packaging Danmark ApS Denmark 100% Bemis Packaging Italia S.r.l. Italy 100% Bemis Packaging Sverige A.B. Sweden 100% Bemis Packaging U.K. Ltd. United Kingdom 100% Bemis (Shanghai) Trading Co., Ltd. China 100% Bemis Valkeakoski Oy Finland 100% Bolsas Bemis S.A. de C.V. Mexico 100% Bolsas Bemis Servicios Mexico S.A. de C.V. Mexico 100% Curwood, Inc. Delaware 100% Curwood Packaging (Canada) Limited Canada 100% Bemis Packaging Ireland Limited Ireland 100% Bemis Swansea Limited United Kingdom 100% Bemis Packaging Espana sl Spain 100% Itap Bemis Ltda. Brazil 22% Perfecseal, Inc. Delaware 100% Perfecseal Internacional de Puerto Rico, Inc. Delaware 100% Perfecseal International Ltd. Delaware 100% Perfecseal Limited United Kingdom 100% Bemis Asia Pacific Sdn Bhd Malaysia 100% DEMF DT Holdings I, LLC Delaware 100% Itap Bemis Ltda. Brazil 23% Hayco Liquidation Company Delaware 100% Bemis U.K. Limited United Kingdom 50% MacKay, Inc. Kentucky 100% MACtac Mexico Servicios, S.A. de C.V. Mexico 51% Milprint, Inc. Wisconsin 100% Bemis Elsham Limited United Kingdom 100% 47
Page 1 and 2:
2007 ANNUAL REPORT
Page 3 and 4:
FINANCIAL HIGHLIGHTS Years Ended De
Page 5 and 6:
In 1900, in order to secure a depen
Page 7 and 8:
In the 1960s, Bemis embarked on an
Page 9 and 10:
BUSINESS STRATEGY Our long-term bus
Page 11 and 12:
Pictured from left to right are Hen
Page 13 and 14:
PRESSURE SENSITIVE MATERIALS In 195
Page 15 and 16:
This pizza package utilizes our ICE
Page 17 and 18: This pizza package utilizes our ICE
Page 19 and 20: BEMIS OFFICERS & DIRECTORS Director
Page 21 and 22: $0.94 $1.54 $0.40 $0.52 $144 $287 D
Page 23 and 24: UNITED STATES SECURITIES AND EXCHAN
Page 25 and 26: PART I - ITEMS 1, 1A, 1B, 2, 3, and
Page 27 and 28: Blown film - A plastic film that is
Page 29 and 30: and the application of such policie
Page 31 and 32: Equity compensation plans as of Dec
Page 33 and 34: Diluted earnings per share were $1.
Page 35 and 36: Research and Development Our effort
Page 37 and 38: (5) Purchase obligations represent
Page 39 and 40: Total increase (decrease) in Accumu
Page 41 and 42: Report of Independent Registered Pu
Page 43 and 44: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 45 and 46: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 47 and 48: Taxes on undistributed earnings: No
Page 49 and 50: In early 2008, the FASB issued Staf
Page 51 and 52: Also in January 2006, the Company c
Page 53 and 54: Accumulated other comprehensive inc
Page 55 and 56: (in thousands) 2007 2006 Change in
Page 57 and 58: Note 9 - LONG-TERM DEBT Debt consis
Page 59 and 60: that a valuation allowance of $7.1
Page 61 and 62: (in millions) 2007 2006 2005 Identi
Page 63 and 64: ITEM 9 - CHANGES IN AND DISAGREEMEN
Page 65 and 66: PART IV - ITEM 15 ITEM 15 - EXHIBIT
Page 67: Exhibit Index Exhibit Description F
Page 71 and 72: EXHIBIT 23 - CONSENT OF PRICEWATERH
Page 73 and 74: (THIS PAGE INTENTIONALLY BLANK) 51
Page 75 and 76: SHAREHOLDER & CORPORATE Information
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