SAE Annual Report 2011 - 55

SAE INTERNATIONAL
Notes to the Financial Statements (Continued) Note 12 - Related Party Transactions (Continued) PRI (Continued) SAE has a consulting and office space agreement with PRI for the services of a consultant to contribute to the successful fulfillment of SAE carrying out standards development and marketing activities with customers in Europe. Costs associated with this agreement approximated $298,611 for the year ended December 31, 2011 and $377,043 for the year ended December 31, 2010. SAE also maintains a contracted services agreement with PRI whereby SAE provides PRI with basic administrative services such as information technology and financial services for a set fee. Annual revenue recognized by SAE related to this contract approximated $304,000 for the year ended December 31, 2011 and $148,000 for the year ended December 31, 2010. SAE Industries Technology Consortia (formerly SAE Institute) SAE had receivables due from SAE Industries Technology Consortia (SAE ITC) of approximately $162,533 at December 31, 2011 and $238,650 at December 31, 2010. Note 13 - Acquisition On December 7, 2011, SAE executed a letter of intent to acquire the stock of an unrelated entity for the purchase price of $9,500,000. The proposed transaction and the terms of the agreement are subject to the satisfactory completion of SAE’s due diligence and to the negotiation and execution of a mutually satisfactory stock purchase agreement. The closing is expected to occur in March 2012. SAE plans to finance the acquisition with $4,000,000 in cash and an additional term note for $5,500,000.

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SAE Annual Report 2011

Table of Contents for the Digital Edition of SAE Annual Report 2011

SAE Annual Report 2011
Contents
Executive Message
Sectors – Aerospace, Automotive and Commercial Vehicle
Membership
Aerospace Standards
Ground Vehicle Standards
Publishing
Magazines and Books
Engineering Events and Meetings
Pre-professional Education
SAE Foundation
Professional Development
Performance Review Institute
Financial Information
Board of Directors
Affiliates and Sections
International Business Partners
SAE Annual Report 2011 - SAE Annual Report 2011
SAE Annual Report 2011 - Cover2
SAE Annual Report 2011 - Contents
SAE Annual Report 2011 - Executive Message
SAE Annual Report 2011 - 3
SAE Annual Report 2011 - Sectors – Aerospace, Automotive and Commercial Vehicle
SAE Annual Report 2011 - 5
SAE Annual Report 2011 - 6
SAE Annual Report 2011 - 7
SAE Annual Report 2011 - Membership
SAE Annual Report 2011 - 9
SAE Annual Report 2011 - Aerospace Standards
SAE Annual Report 2011 - Ground Vehicle Standards
SAE Annual Report 2011 - Publishing
SAE Annual Report 2011 - Magazines and Books
SAE Annual Report 2011 - 14
SAE Annual Report 2011 - Engineering Events and Meetings
SAE Annual Report 2011 - Pre-professional Education
SAE Annual Report 2011 - SAE Foundation
SAE Annual Report 2011 - 18
SAE Annual Report 2011 - Professional Development
SAE Annual Report 2011 - Performance Review Institute
SAE Annual Report 2011 - Financial Information
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SAE Annual Report 2011 - Board of Directors
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SAE Annual Report 2011 - Affiliates and Sections
SAE Annual Report 2011 - International Business Partners
SAE Annual Report 2011 - Cover4
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