Energizer 2014 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2014 Energizer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

Forward-Looking Statements
This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical
facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without
limitation, statements regarding the planned spin-off of the Household Products business, the timing of any such spin-off, the
future earnings and performance of Energizer Holdings or any of its businesses, including the Household Products and Personal
Care businesses on a standalone basis if the spin-off is completed. These statements generally can be identified by the use of
forward-looking words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief,"
"estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These
statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and
assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those
statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking
statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly
update any forward-looking statement to reflect subsequent events or circumstances. Numerous factors could cause our actual
results and events to differ materially from those expressed or implied by forward-looking statements, including, without
limitation:
• Whether the spin-off of the Household Products business is completed, as expected or at all, and the timing of any
such spin-off;
• Whether the legal and regulatory conditions to the spin-off can be satisfied;
• Whether the operational, marketing and strategic benefits of the spin-off can be achieved;
• Whether the costs and expenses of the spin-off can be controlled within expectations;
• General market and economic conditions;
• Market trends in the categories in which we operate;
• The success of new products and the ability to continually develop and market new products;
• Our ability to attract, retain and improve distribution with key customers;
• Our ability to continue planned advertising and other promotional spending;
• Our ability to timely execute strategic initiatives, including the planned spin-off of the Household Products business as
well as restructurings, in a manner that will positively impact our financial condition and results of operations and
does not disrupt our business operations;
• The impact of strategic initiatives, including the planned spin-off of the Household Products business as well as
restructurings, on our relationships with employees, customers and vendors;
• Our ability to maintain and improve market share in the categories in which we operate despite heightened
competitive pressure;
• Our ability to improve operations and realize cost savings;
• The impact of raw material and other commodity costs;
• The impact of foreign currency exchange rates and currency controls, particularly in Venezuela and Argentina, as well
as offsetting hedges;
• The impact of change in accounting position as it relates to the selection of the applicable Venezuela translation rate;
• Goodwill impairment charges resulting from declines in profitability or estimated cash flows related to intangible
assets or market valuations for similar assets;
• Our ability to acquire and integrate businesses, and to realize the projected results of acquisitions;
• The impact of advertising and product liability claims and other litigation;
• Compliance with debt covenants and maintenance of credit ratings as well as the impact of interest and principal
repayment of our existing and any future debt; or
• The impact of legislative or regulatory determinations or changes by federal, state and local, and foreign authorities,
including taxing authorities.
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 this Annual Report on Form 10-K, 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.
4