Rayovac 2004 Annual Report Download - page 92

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RAYOVAC CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
The reportable segment profits do not include interest expense, interest income, and income tax expense.
Also not included in the reportable segments are corporate expenses including corporate purchasing expense,
general and administrative expense, certain research and development expense, and restructuring and related
charges. All depreciation and amortization included in operating income is related to reportable segments or
corporate. Costs are identified to reportable segments or corporate, according to the function of each cost center.
The reportable segment assets do not include cash, deferred tax benefits, investments, long-term
intercompany receivables, most deferred charges, and miscellaneous assets. All capital expenditures are related
to reportable segments. Variable allocations of assets are not made for segment reporting.
Net sales to external customers
2004 2003 2002
North America .............................. $ 653,963 $375,571 $435,600
Europe/ROW ............................... 617,967 421,529 52,459
Latin America .............................. 145,256 125,022 84,677
Total segments .............................. $1,417,186 $922,122 $572,736
Intersegment net sales
2004 2003 2002
North America .............................. $ 77,835 $32,298 $ 34,069
Europe/ROW ............................... 15,713 29,571 2,504
Latin America .............................. 227 54 5,556
Total segments .............................. $ 93,775 $61,923 $ 42,129
Depreciation and amortization
2004 2003 2002
North America .............................. $ 15,194 $ 15,464 $ 15,407
Europe/ROW ............................... 16,243 13,531 715
Latin America .............................. 3,855 2,576 2,879
Total segments .............................. $ 35,292 $ 31,571 $ 19,001
Segment profit
2004 2003 2002
North America .............................. $ 130,749 $ 64,797 $ 85,490
Europe/ROW ............................... 96,202 53,842 5,087
Latin America .............................. 11,717 17,661 5,330
Total segments .............................. 238,668 136,300 95,907
Corporate expenses .......................... 71,005 44,106 31,676
Restructuring and related charges ............... 11,443 32,552 1,210
Interest expense ............................. 65,702 37,182 16,048
Non-operating expense ....................... — 3,072 —
Other expense (income), net ................... 64 (3,647) 1,290
Minority interest ............................ (78) — —
Income from continuing operations before income
taxes .................................... $ 90,532 $ 23,035 $ 45,683
77