Energizer 2013 Annual Report Download - page 2

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SEGMENT BREAKDOWN
Fiscal 2013
NET SALES SEGMENT PROFIT
•Personal Care
•Household Products
•Personal Care
•Household Products
GEOGRAPHICAL NET SALES MIX
Fiscal 2013
•US & Canada
•EMEA
•Asia
•Latin America
55%
45% 52%
48%
56%
20%
15%
9%
Energizer Holdings, Inc. is a consumer goods company operating globally in the broad categories of personal care and household products. e
Personal Care Division oers a diversied range of consumer products in the wet shave, skin care, feminine care and infant care categories with
well-established brand names such as Schick® and Wilkinson Sword® men’s and women’s shaving systems and disposable razors; Edge® and
Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Playtex® infant feeding, Diaper Genie® and
gloves; Banana Boat® and Hawaiian Tropic® sun care products; and Wet Ones® moist wipes. e Household Products Division oers consumers
a broad range of household and specialty batteries and portable lighting products, anchored by the universally recognized Energizer® and
Eveready® brands. e company markets its products throughout most of the world. Energizer Holdings, Inc. is traded on the NYSE under the
ticker symbol ENR.
Financial Highlights
In addition to its earnings presented in accordance with generally accepted accounting principles (GAAP) Energizer has presented certain non-GAAP measures in the table above, which it believes are
useful to readers in addition to traditional GAAP measures. These measures should be considered as an alternative to, but not superior to or as a substitute for, the comparable GAAP measures.
(a) Other adjustments include: Early termination of interest rate swap; early debt retirement/duplicate interest; and a favorable adjustment resulting from a change in the Company’s paid time
off (PTO) benet for the years ended 2012, 2011 and 2009, respectively.
(b) Free cash ow is dened as net cash provided by operating activities net of capital expenditures, i.e., additions to property, plant and equipment. The Company views free cash ow as
an important indicator of its ability to repay debt, fund growth and return cash to shareholders. Free cash ow is not a measure of the residual cash ow that is available for discretionary
expenditures, since the Company has certain non-discretionary obligations, such as debt service, that are not deducted from the measure. Cash Flow Efciency is dened as free cash ow
divided by net earnings.
YEAR ENDED SEPTEMBER 30, 2013 2012 2011 2010 2009
($ in millions, except per share data)
Diluted EPS – GAAP $ 6.47 $ 6.22 $ 3.72 $ 5.72 $ 4.72
Adjustments, expense (income)
Restructuring 1.55 (0.02) 0.89 – 0.39
Net pension/post-retirement curtailment gains (1.07) – – – –
Other realignment/integration/acquisition inventory valuation 0.04 0.08 0.21 0.10 0.17
Venezuela devaluation/other 0.10 – 0.03 0.20 –
Adjustments to valuation allowance and prior year tax accruals (0.13) (0.10) 0.14 (0.42) 0.02
Other adjustments(a) – 0.02 0.21 – (0.24)
Diluted EPS – adjusted (Non-GAAP) $ 6.96 $ 6.20 $ 5.20 $ 5.60 $ 5.06
FREE CASH FLOW(b)
Operating Cash Flow $ 750.0 $ 631.6 $ 412.5 $ 652.4 $ 489.2
Capital Expenditures (90.6) (111.0) (98.0) (108.7) (139.7)
Free cash ow $ 659.4 $ 520.6 $ 314.5 $ 543.7 $ 349.5
Cash Flow Eciency 162% 127% 120% 135% 117%