Energizer 2006 Annual Report Download - page 45

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ENR 2006 ANNUAL REPORT 43
YEAR ENDED SEPTEMBER 30, 2004
As Fully Allocated
Reported Adjustment FAS 123R Adjusted
Profitability
North America Battery $ 298.2 – – $ 298.2
International Battery 147.7 4.7 – 152.4
R&D Battery (39.9) – – (39.9)
Total Battery 406.0 4.7 – 410.7
Razors and Blades 85.7 (9.5) – 76.2
Total segment profitability $ 491.7 (4.8) –$ 486.9
Corporate expense (95.1) 4.8 (10.2) (100.5)
Amortization expense (5.8) – – (5.8)
Interest and other financial items (32.8) – – (32.8)
Total earnings before income taxes $ 358.0 –(10.2) $ 347.8
Income tax provision 90.6 – (3.8) 86.8
Net earnings $ 267.4 –$ (6.4) $ 261.0
EPS –Basic $ 3.32 –(0.08) $ 3.24
EPS –Diluted $ 3.21 –(0.08) $ 3.13
19. Presentation of Statements of Cash Flows
The Statements of Cash Flows for fiscal years prior to 2006 were
adjusted in accordance with SFAS 123R to reflect excess tax benefits
as an inflow from financing activities. Impacts to the Statements of
Cash Flows were $20.9 and $6.4 for 2005 and 2004, respectively.
In prior years’ Consolidated Statements of Cash Flows, certain bor-
rowings and repayments under revolving lines of credit were presented
separately in the financing section (gross basis). For debt instruments
with original maturities of less than 90 days, SFAS No. 95, “Statement of
Cash Flows,” permits borrowings and repayments to be netted for pres-
entation in the Consolidated Statements of Cash Flows. For fiscal 2006,
the Company began presenting all borrowings with original maturities of
less than 90 days, including those under the aforementioned revolving
lines of credit, on a net basis and only borrowings with original maturities
of 90 days or greater will be presented on a gross basis. Prior year
amounts have been changed to conform to the current presentation.