Rayovac 2006 Annual Report Download - page 77

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SPECTRUM BRANDS | 2006 ANNUAL REPORT 65
Consolidated Statements of Shareholders’ Equity and Comprehensive Income (Loss)
Years ended September 30, 2006, 2005 and 2004
Common Stock
Accumulated Notes
(Accumulated Other Receivable
Additional Defi cit) Comprehensive from Total
Paid-In Retained Income (Loss), Offi cers/ Treasury Shareholders’
(in thousands) Shares Amount Capital Earnings Net of Tax Shareholders Stock Equity
Balances at September 30, 2003 32,463 $620 $182,811 $164,703 $(12,457) $(3,605) $(130,070) $202,002
Net income – – – 55,780 – – – 55,780
Adjustment of additional minimum
pension liability – – – – (2,282) – – (2,282)
Translation adjustment – – – – 20,634 – – 20,634
Net gain on derivative instruments – – – – 4,726 – – 4,726
Comprehensive income 78,858
Issuance of restricted stock 449 4 (4) – – – – –
Forfeiture of restricted stock (12) – – – – – – –
Exercise of stock options 1,783 18 29,875 – – – – 29,893
Amortization of unearned compensation – – 5,291 – – – – 5,291
Balances at September 30, 2004 34,683 642 217,973 220,483 10,621 (3,605) (130,070) 316,044
Net income – – – 46,832 – – – 46,832
Adjustment of additional minimum
pension liability – – – – (6,741) – – (6,741)
Translation adjustment – – – – 4,696 – – 4,696
Net gain on derivative instruments – – – – 1,684 – – 1,684
Comprehensive income 46,471
Issuance of restricted stock 1,242 12 (12) – – – – –
Forfeiture of restricted stock (112) (1) 1 – – – – –
Exercise of stock options 1,276 13 29,019 – – – – 29,032
Treasury shares issued 13,708 – 378,819 – – – 59,250 438,069
Note payments from offi cers/shareholders – – – – – 3,605 – 3,605
Amortization of unearned compensation – – 9,509 – – – – 9,509
Balances at September 30, 2005 50,797 666 635,309 267,315 10,260 – (70,820) 842,730
Net loss – – – (433,972) – – – (433,972)
Adjustment of additional minimum
pension liability – – – – 7,034 – – 7,034
Translation adjustment – – – – 14,261 – – 14,261
Net gain on derivative instruments – – – – 8,084 – – 8,084
Comprehensive loss (404,593)
Issuance of restricted stock 965 10 (10) – – – – –
Forfeiture of restricted stock (196) (2) 2 – – – – –
Exercise of stock options 28 – 445 – – – – 445
Stock option expense – – 729 – – – – 729
Treasury shares surrendered (103) – – – – – (2,263) (2,263)
Amortization of unearned compensation – – 15,169 – – – – 15,169
Balances at September 30, 2006 51,491 $674 $651,644 $(166,657) $ 39,639 $ – $ (73,083) $452,217
See accompanying notes to consolidated financial statements.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.