Energizer 2011 Annual Report Download - page 56

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ENERGIZER HOLDINGS, INC.
(Dollars in millions, except per share and percentage data)
• The impact of strategic initiatives on Energizer's relationships with its employees, its major customers and vendors;
• The impact of raw material and other commodity costs;
• The impact of foreign currency exchange rates and offsetting hedges on Energizer's profitability for the year with any
degree of certainty;
• The success of new products and the ability to continually develop new products;
• Energizer's ability to predict consumption trends with respect to the overall battery category and Energizer's other
businesses;
• Energizer's ability to continue planned advertising and other promotional spending may be impacted by lower than
anticipated cash flows, or by alternative investment opportunities;
• Energizer's effective tax rate for the year could be impacted by legislative or regulatory changes by federal, state and local,
and foreign taxing authorities, as well as by the profitability or losses of Energizer's various subsidiary operations in both
high-tax and low-tax countries; and
• Prolonged recessionary conditions in key global markets where Energizer competes could result in significantly greater
local currency movements and correspondingly greater negative impact on Energizer than what can be anticipated from the
current spot rates.
In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of
any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. The risk factors set
forth in our Annual Report on Form 10-K, for the year ended September 30, 2011 in the section entitled “Risk Factors,” could
affect future results, causing our results to differ materially from those expressed in our forward-looking statements.
All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and
uncertainties include those detailed from time to time in Energizer's publicly filed documents.
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