Energizer 2015 Annual Report Download - page 8

Download and view the complete annual report

Please find page 8 of the 2015 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 99

  • 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

4
Part I.
Item 1. Business.
Our Company
Energizer Holdings, Inc. (Energizer), through its operating subsidiaries, is one of the world’s largest
manufacturers, marketers and distributors of household batteries, specialty batteries and lighting products.
Energizer is the beneficiary of over 100 years of expertise in the battery and portable lighting products industries.
Its brand names, Energizer® and Eveready®, have worldwide recognition for innovation, quality and dependability,
and are marketed and sold around the world.
On July 1, 2015, Energizer completed its legal separation from our former parent company, Edgewell Personal Care
Company (Edgewell), via a tax free spin-off (the Spin-off or Spin). To effect the separation, Edgewell undertook a series of
transactions to separate net assets and legal entities.
To facilitate the Spin-Off, Edgewell distributed 62,193,281 shares of Energizer Holdings, Inc. common stock to its
shareholders. Under the terms of the spin-off, Edgewell common stockholders of record as of the close of business on June
16, 2015, the record date for the distribution, received one share in Energizer for each share of Edgewell common stock they
held. Edgewell completed the distribution of Energizer common stock to its shareholders on July 1, 2015, the distribution
date.
As a result of the Spin-Off, Energizer now operates as an independent, publicly traded company on the New York
Stock Exchange, trading under the symbol "ENR."
When we use the terms “Energizer,” the “Company,” “we,” “us” or “our” in this Annual Report on Form 10-K, we mean
Energizer Holdings, Inc. and its subsidiaries on a consolidated basis, unless we state or the context implies otherwise.
Unless indicated otherwise, the information concerning our industry contained in this information statement is based on
Energizer’s general knowledge of and expectations concerning the industry. Energizer’s market position, market share and
industry market size are based on estimates using Energizer’s internal data and estimates, based on data from various industry
analyses, its internal research and adjustments and assumptions that it believes to be reasonable. Energizer has not independently
verified data from industry analyses and cannot guarantee their accuracy or completeness. In addition, Energizer believes that
data regarding the industry, market size and its market position and market share within such industry provide general guidance
but are inherently imprecise. Further, Energizer’s estimates and assumptions involve risks and uncertainties and are subject to
change based on various factors, including those discussed in the “Risk Factors” section. These and other factors could cause
results to differ materially from those expressed in the estimates and assumptions.
Our Reporting Segments
While consumers can buy our products around the globe, Energizer organizes its business into four geographic reportable
segments:
• North America, which is comprised of the U.S. and Canada;
• Latin America, which includes our markets in Mexico, the Caribbean, Central America and South America;
• Europe, Middle East and Africa (EMEA); and
• Asia Pacific, which is comprised of our markets in Asia, Australia and New Zealand.
See Note 21, “Segments,” to our Consolidated Financial Statements and Management's Discussion and Analysis for
information regarding net sales by reportable segment.
Our Products
Today, Energizer offers batteries using many technologies including lithium, alkaline, carbon zinc, nickel metal
hydride, zinc air, and silver oxide. These products are sold under the Energizer and Eveready brands in the
performance, premium and price segments and include primary, rechargeable, specialty and hearing aid products. In
addition, Energizer has an extensive line of lighting products designed to meet a variety of consumer needs. We
distribute, market, and license lighting products including headlights, lanterns, kid’s lights and area lights. In addition
to the Energizer and Eveready brands, we market our flashlights under the Hard Case®, Dolphin®, and