Rayovac 2006 Annual Report Download - page 110

Download and view the complete annual report

Please find page 110 of the 2006 Rayovac 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 130

  • 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
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

98 SPECTRUM BRANDS | 2006 ANNUAL REPORT
(20) Consolidating Financial Statements
In connection with the acquisitions of Remington, United,
Tetra and Jungle Labs, the Company completed debt offerings
of Senior Subordinated Notes. Payment obligations of the
Senior Subordinated Notes are fully and unconditionally guar-
anteed on a joint and several basis by all of the Company’s
domestic subsidiaries.
The following consolidating fi nancial data illustrates the com-
ponents of the consolidated fi nancial statements. Investments in
subsidiaries are accounted for using the equity method for pur-
poses of illustrating the consolidating presentation. Earnings of
subsidiaries are therefore refl ected in the Company’s and Guarantor
Subsidiaries’ investment accounts and earnings. The elimination
entries presented herein eliminate investments in subsidiaries and
intercompany balances and transactions. Separate condensed con-
solidated fi nancial statements of the Guarantor Subsidiaries are not
presented because management has determined that such fi nancial
statements would not be material to investors.
On March 29, 2004, Remington Products Company, L.L.C.
(previously a guarantor subsidiary) merged with Spectrum Brands,
Inc. (the parent company). As a result of the merger, the results of
operations and cash fl ows of Remington Products Company, L.L.C.
are included with Spectrum Brands, Inc. for fi scal 2004.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.