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ENERGIZER HOLDINGS, INC. 2008 Annual Report 21
Statement of Earnings Data
FOR THE YEARS ENDED SEPTEMBER 30, 2008 (a) 2007 2006 2005 2004
Net sales $4,331.0 $3,365.1 $3,076.9 $2,989.8 $2,812.7
Depreciation and amortization 141.3 115.0 117.5 116.3 115.8
Earnings before income taxes (b) 473.2 434.2 356.6 388.7 347.8
Income taxes 143.9 112.8 95.7 108.0 86.8
Net earnings (c) $ 329.3 $ 321.4 $ 260.9 $ 280.7 $ 261.0
Earnings per share:
Basic $ 5.71 $ 5.67 $ 4.26 $ 3.95 $ 3.24
Diluted $ 5.59 $ 5.51 $ 4.14 $ 3.82 $ 3.13
Average shares outstanding:
Basic 57.6 56.7 61.2 71.0 80.6
Diluted 58.9 58.3 63.1 73.5 83.4
Balance Sheet Data
AT SEPTEMBER 30, 2008 (a) 2007 2006 2005 2004
Working capital $ 665.1 $ 888.5 $ 708.2 $ 626.4 $ 469.2
Property, plant and equipment, net 835.5 649.9 659.9 682.5 705.6
Total assets 5,816.7 3,525.7 3,132.6 2,973.8 2,931.7
Long-term debt 2,589.5 1,372.0 1,625.0 1,295.0 1,059.6
(a) Playtex Products, Inc. was acquired October 1, 2007
(b) Earnings before income taxes were (reduced)/increased by the following items:
FOR THE YEARS ENDED SEPTEMBER 30, 2008 2007 2006 2005 2004
Acquisition inventory valuation $ (27.5) $ – $ – $ – $ –
Integration costs (17.9) – – – –
Provisions for restructuring and related costs (3.2) (18.2) (37.4) (5.7) (5.2)
Foreign pension charge – – (4.5) – –
Special termination benefits – – – – (15.2)
Intellectual property rights income –
– – – 1.5
Total $ (48.6) $ (18.2) $ (41.9) $ (5.7) $ (18.9)
(c) Net earnings were (reduced)/increased by the following items:
FOR THE YEARS ENDED SEPTEMBER 30, 2008 2007 2006 2005 2004
Acquisition inventory valuation, net of tax $ (16.5) $ – $ – $ – $ –
Integration costs, net of tax (11.4) – – – –
Provisions for restructuring and related costs, net of tax (2.0) (12.2) (24.9) (3.7) (3.8)
Foreign pension charge, net of tax – – (3.7) – –
Special termination benefits, net of tax – – – – (9.6)
Adjustments to prior years’ tax accruals (1.1) 7.9 10.9 10.6 8.5
Tax benefits recognized related to prior years’ losses – 4.3 5.7 14.7 16.2
Deferred tax benefit due to statutory rate change – 9.7 – – –
Repatriation under the American Jobs Creation Act – – – (9.0) –
Intellectual property rights income, net of tax – – – – 0.9
Total $ (31.0) $ 9.7 $ (12.0) $ 12.6 $ 12.2
Summary Selected Historical Financial Information
(Dollars in millions, except per share data)