Rayovac 2008 Annual Report Download - page 168

Table of Contents
Index to Financial Statements
SPECTRUM BRANDS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
(A) Fiscal 2007 does not include depreciation and amortization expense associated with the Home and Garden Business, as the Home and Garden Business
was designated a discontinued operation in Fiscal 2007, in accordance with SFAS 144. Fiscal 2008 includes depreciation and amortization expense of
$13,645 related to Fiscal 2007, as a result of the reclassification of the Home and Garden Business as a continuing operation during Fiscal 2008.
Segment profit
2008 2007 2006
Global Batteries & Personal Care(A) $ 162,889 $ 143,850 $ 117,409
Global Pet Supplies(A) 68,885 71,038 72,471
Home and Garden(B) 8,034 47,030 55,240
Total segments 239,808 261,918 245,120
Corporate expenses(A) 45,246 46,902 41,315
Restructuring and related charges 39,337 98,026 54,709
Goodwill and intangibles impairment 866,934 362,452 432,978
Interest expense(C) 229,013 255,765 175,923
Other expense (income), net 1,220 (331) (4,097)
Loss from continuing operations before income taxes $ (941,942) $ (500,896) $ (455,708)
(A) In connection with the realignment of operating segments in Fiscal 2007, certain expenses previously reflected in corporate expenses are now included in
the determination of operating segment profit. Segment reporting results for Fiscal 2006 have been reclassified to conform to this change. Accordingly,
previously reported Global Batteries & Personal Care segment profit for Fiscal 2006 has been decreased by approximately $46,914 and previously
reported Global Pet Supplies segment profit for Fiscal 2006 has been decreased by approximately $11,140. As a result of these reclassifications, previously
reported Corporate expenses for Fiscal 2006 has been reduced by approximately $58,054.
(B) Fiscal 2007 does not include depreciation and amortization expense associated with the Home and Garden Business, as the Home and Garden Business
was designated a discontinued operation in Fiscal 2007, in accordance with SFAS 144. Fiscal 2008 includes depreciation and amortization expense of
$13,645 related to Fiscal 2007, as a result of the reclassification of the Home and Garden Business as a continuing operation during Fiscal 2008.
(C) Fiscal 2007 includes $24,576 in debt issuance costs and $11,649 in prepayment penalties in connection with the refinancing of the Company’s previously
existing senior credit facilities and the exchange of the Company’s 8 1/2% Senior Subordinated Notes due 2013 for Variable Rate Toggle Senior
Subordinated Notes due 2013 pursuant to the terms of an exchange offer, both of which occurred on March 30, 2007. (See also Note 7, Debt, for additional
information related to Company’s refinancing).
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008