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47
ENERGIZER HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(Dollars in millions, except per share data)
FOR THE YEARS ENDED
SEPTEMBER 30,
Statement of Earnings 2015 2014 2013
Net sales $ 1,631.6 $ 1,840.4 $ 2,012.2
Cost of products sold 875.4 990.0 1,110.3
Gross profit 756.2 850.4 901.9
Selling, general and administrative expense 426.3 391.3 387.7
Advertising and sales promotion expense 132.3 121.7 127.4
Research and development expense 24.9 25.3 29.7
Venezuela deconsolidation charge 65.2 — —
Spin restructuring 39.1 — —
Restructuring 9.6 43.5 123.9
Interest expense 77.9 52.7 68.1
Other financing items, net (18.4)0.7 3.1
(Loss)/earnings before income taxes (0.7)215.2 162.0
Income taxes 3.3 57.9 47.1
Net (loss)/earnings $(4.0)$ 157.3 $ 114.9
Earnings Per Share
Basic net (loss)/earnings per share (1) $(0.06)$ 2.53 $ 1.85
Diluted net (loss)/earnings per share (1) $(0.06)$ 2.53 $ 1.85
Statement of Comprehensive (Loss)/Income
Net (loss)/earnings $(4.0)$ 157.3 $ 114.9
Other comprehensive (loss)/income, net of tax expense/(benefit)
Foreign currency translation adjustments (81.7)(1.9)(12.0)
Pension activity, net of tax of ($19.7) in 2015, $0.2 in 2014 and
$1.4 in 2013 (37.2)(1.4) 6.4
Deferred (loss)/gain on hedging activity, net of tax of ($2.3) in
2015, $1.1 in 2014 and ($0.4) in 2013 (4.8)6.2 0.4
Total comprehensive (loss)/income $(127.7)$ 160.2 $ 109.7
(1) On July 1, 2015, Edgewell Personal Care Company (Edgewell) distributed 62.2 million shares of Energizer Holdings, Inc. (Energizer)
common stock to Edgewell shareholders in connection with its spin-off of Energizer. See Note 1, Description of Business and Basis of
Presentation to the Consolidated Financial Statements for more information. Basic and diluted earnings per common share, and the average
number of common shares outstanding were retrospectively restated for the number of Energizer shares outstanding immediately following
this transaction.
The above financial statements should be read in conjunction with the Notes To Consolidated Financial Statements.