Rayovac 2006 Annual Report Download - page 75

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SPECTRUM BRANDS | 2006 ANNUAL REPORT 63
Consolidated Balance Sheets
September 30, 2006 and 2005
(in thousands, except per share amounts) 2006 2005
Assets
Current assets:
Cash and cash equivalents $ 28,430 $ 29,852
Receivables:
Trade accounts receivable, net of allowances of $21,394 and $20,262, respectively 329,280 362,399
Other 36,252 10,996
Inventories 460,672 451,553
Deferred income taxes 50,401 39,231
Assets held for sale 3,499 108,174
Prepaid expenses and other 51,281 45,762
Total current assets 959,815 1,047,967
Property, plant and equipment, net 311,839 304,323
Deferred charges and other 49,028 47,375
Goodwill 1,130,184 1,429,017
Intangible assets, net 1,061,087 1,154,397
Debt issuance costs 37,367 39,012
Total assets $3,549,320 $4,022,091
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 42,713 $ 39,308
Accounts payable 309,111 281,954
Accrued liabilities:
Wages and benefi ts 40,951 47,910
Income taxes payable 22,498 40,468
Restructuring and related charges 45,526 16,978
Accrued interest 36,974 31,529
Liabilities held for sale – 22,294
Other 64,840 76,935
Total current liabilities 562,613 557,376
Long-term debt, net of current maturities 2,234,458 2,268,025
Employee benefi t obligations, net of current portion 76,893 78,510
Deferred income taxes 156,578 208,251
Other 66,561 67,199
Total liabilities 3,097,103 3,179,361
Commitments and contingencies
Shareholders’ equity:
Common stock, $.01 par value, authorized 150,000 shares; issued 67,422 and
66,625 shares, respectively; outstanding 51,491 and 50,797 shares, respectively 674 666
Additional paid-in capital 651,644 635,309
(Accumulated defi cit) Retained earnings (166,657) 267,315
Accumulated other comprehensive income 39,639 10,260
525,300 913,550
Less treasury stock, at cost, 15,931 and 15,828 shares, respectively (73,083) (70,820)
Total shareholders’ equity 452,217 842,730
Total liabilities and shareholders’ equity $3,549,320 $4,022,091
See accompanying notes to consolidated financial statements.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.