Rayovac 2008 Annual Report Download - page 129

Table of Contents
Index to Financial Statements
SPECTRUM BRANDS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
September 30, 2008 and 2007
(In thousands, except per share amounts)
2008 2007
Assets
Current assets:
Cash and cash equivalents $ 104,773 $ 69,853
Receivables:
Trade accounts receivable, net of allowances of $18,102 and $17,196, respectively 353,949 352,877
Other 40,756 47,522
Inventories 383,260 396,329
Deferred income taxes 13,957 22,208
Assets held for sale 7,452 33,646
Prepaid expenses and other 49,450 53,966
Total current assets 953,597 976,401
Property, plant and equipment, net 234,805 281,568
Deferred charges and other 44,129 40,740
Goodwill 235,468 820,727
Intangible assets, net 742,809 1,047,044
Debt issuance costs 36,671 44,906
Total assets $ 2,247,479 $ 3,211,386
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 48,637 $ 43,438
Accounts payable 278,126 279,548
Accrued liabilities:
Wages and benefits 72,299 67,492
Income taxes payable 10,272 18,345
Restructuring and related charges 34,559 55,793
Accrued interest 50,514 51,122
Liabilities held for sale — 8,475
Other 87,672 81,943
Total current liabilities 582,079 606,156
Long-term debt, net of current maturities 2,474,782 2,416,916
Employee benefit obligations, net of current portion 47,694 54,469
Deferred income taxes 114,674 169,088
Other 55,488 68,585
Total liabilities 3,274,717 3,315,214
Commitments and contingencies
Shareholders’ deficit:
Common stock, $.01 par value, authorized 150,000 shares; issued 69,202 and 69,062 shares, respectively; outstanding
52,775 and 52,765 shares, respectively 692 690
Additional paid-in capital 674,370 669,274
Accumulated deficit (1,694,915) (763,370)
Accumulated other comprehensive income 69,445 65,664
(950,408) (27,742)
Less treasury stock, at cost, 16,427 and 16,297 shares, respectively (76,830) (76,086)
Total shareholders’ deficit (1,027,238) (103,828)
Total liabilities and shareholders’ deficit $ 2,247,479 $ 3,211,386
See accompanying notes to consolidated financial statements.
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008