Energizer 2010 Annual Report Download - page 34

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ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share and percentage data)
24
If we incur unexpected charges related to the restructuring, or in connection with any potential
future restructuring program, our financial condition and results of operations may suffer.
Restructuring presents significant potential risks of events occurring that could adversely affect
us, including a decrease in employee morale, delays encountered in finalizing the scope of,
and implementing, the restructurings, the failure to achieve targeted cost savings and the
failure to meet operational targets and customer requirements due to the loss of employees
and any work stoppages that might occur. These risks are further complicated by our extensive
international operations, which subject us to different legal and regulatory requirements that
govern the extent and speed, of our ability to reduce our manufacturing capacity and workforce.
In addition, the current global economic conditions may change how governments regulate
restructuring as the recent global recession has impacted local economies.
Additional descriptions of risk factors impacting Energizer appearing under
“ENERGIZER HOLDINGS, INC. - MANAGEMENT’S DISCUSSION AND ANALYSIS OF
RESULTS OF OPERATIONS AND FINANCIAL CONDITION” are included in Exhibit 13
attached hereto, which will also appear in the Energizer Holdings, Inc. 2010 Annual
Report to Shareholders.
Item 1B. Unresolved Staff Comments.
None.