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ENERGIZER HOLDINGS, INC.
Notes to Consolidated Financial Statements
(Dollars in millions, except per share and percentage data)
42 ENR 2006 ANNUAL REPORT
Geographic segment information on a legal entity basis:
2006 2005 2004
Net Sales to Customers
United States $1,474.5 $ 1,409.2 $ 1,338.1
International 1,602.4 1,580.6 1,474.6
Total net sales $3,076.9 $ 2,989.8 $ 2,812.7
Long-Lived Assets
United States $ 502.4 $ 516.8
Germany 126.5 120.8
Other International 197.4 208.2
Total long-lived assets $ 826.3 $ 845.8
The Company’s international net sales are derived from customers
in numerous countries, with sales to customers in Japan representing
5.0%, 5.7% and 5.8% of the Company’s total sales in 2006, 2005
and 2004, respectively. Sales to customers in all other single foreign
countries represented less than 5% of the Company’s total sales for
each of the three years ended September 30.
Supplemental product information is presented below for net sales:
2006 2005 2004
Net Sales
Alkaline batteries $ 1,338.0 $ 1,330.0 $ 1,284.0
Carbon zinc batteries 242.2 254.0 247.9
Other batteries and lighting products 566.9 475.0 412.7
Razors and Blades 929.8 930.8 868.1
Total net sales $ 3,076.9 $ 2,989.8 $ 2,812.7
18. Reconciliation of Segment Changes
The tables below reflect the impact on 2005 and 2004 results as a result of the Company’s adoption of SFAS 123R and the fully allocated method
as described in Notes 7 and 17, respectively.
YEAR ENDED SEPTEMBER 30, 2005
As Fully Allocated
Reported Adjustment FAS 123R Adjusted
Profitability
North America Battery $ 295.7 0.1 – $ 295.8
International Battery 173.7 4.8 – 178.5
R&D Battery (36.0) – – (36.0)
Total Battery 433.4 4.9 – 438.3
Razors and Blades 117.3 (9. 8) – 107.5
Total segment profitability $ 550.7 (4.9) –$ 545.8
Corporate expense (97.6) 4.9 (9.0) (101.7)
Amortization expense (5.3) – – (5.3)
Interest and other financial items (50.1) – – (50.1)
Total earnings before income taxes $ 397.7 –(9.0) $ 388.7
Income tax provision 111.3 – ( 3.3) 108.0
Net earnings $ 286.4 –$ (5.7) $ 280.7
EPS –Basic $ 4.03 –(0.08) $ 3.95
EPS –Diluted $ 3.90 –(0.08) $ 3.82