Rayovac 2009 Annual Report Download - page 178

Table of Contents
Index to Financial Statements SPECTRUM BRANDS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
(7) Goodwill and Intangible Assets
Intangible assets consist of the following:
Global Batteries &
Personal Care Home and Garden Global Pet Supplies Total
Goodwill:
Balance as of September 30, 2007 (Predecessor Company) $ 129,899 $ 161,078 $ 529,750 $ 820,727
Purchase price allocation during period — (1,064) (379) (1,443)
Impairment charge (16,193) (160,014) (425,727) (601,934)
Effect of translation 3,943 — 14,175 18,118
Balance as of September 30, 2008 (Predecessor Company) $ 117,649 $ — $ 117,819 $ 235,468
Additions 2,762 — — 2,762
Effect of translation 369 — 306 675
Balance as of August 30, 2009 (Predecessor Company) 120,780 — 118,125 238,905
Fresh−start adjustments 60,029 187,887 41,239 289,155
Balance as of August 30, 2009 (Successor Company) 180,809 187,887 159,364 528,060
Adjustment for release of valuation allowance (30,363) (17,080) — (47,443)
Effect of translation 1,847 — 884 2,731
Balance as of September 30, 2009 (Successor Company) $ 152,293 $ 170,807 $ 160,248 $ 483,348
Intangible Assets:
Trade Names Not Subject to Amortization
Balance as of September 30, 2007 (Predecessor Company) $ 387,789 $ 138,400 $ 310,637 $ 836,826
Purchase price allocation during period (23,781) — — (23,781)
Impairment charge (85,700) (81,400) (97,900) (265,000)
Effect of translation 7,952 — 5,608 13,560
Balance as of September 30, 2008 (Predecessor Company) $ 286,260 $ 57,000 $ 218,345 $ 561,605
Reclassification(A) — (12,000) — (12,000)
Impairment charge (15,391) (500) (18,500) (34,391)
Effect of translation (240) — (214) (454)
Balance as of August 30, 2009 (Predecessor Company) 270,629 44,500 199,631 514,760
Fresh−start adjustments 130,371 31,500 10,869 172,740
Balance as of August 30, 2009 (Successor Company) 401,000 76,000 210,500 687,500
Effect of translation 983 — 1,753 2,736
Balance as of September 30, 2009 (Successor Company) $ 401,983 $ 76,000 $ 212,253 $ 690,236
Intangible Assets Subject to Amortization
Balance as of September 30, 2007, net (Predecessor Company) $ 12,566 $ 74,347 $ 123,305 $ 210,218
Purchase price allocation during period 126 — 39 165
Amortization related to discontinued operations — (3,020) — (3,020)
Amortization during period (1,142) (12,970) (13,575) (27,687)
Effect of translation 279 — 1,249 1,528
Balance as of September 30, 2008, net (Predecessor Company) $ 11,829 $ 58,357 $ 111,018 $ 181,204
Additions(A) 500 12,000 32 12,532
Disposals(B) — (11,595) — (11,595)
Amortization during period (975) (6,297) (11,827) (19,099)
Effect of translation (129) — (623) (752)
Balance as of August 30, 2009, net (Predecessor Company) 11,225 52,465 98,600 162,290
Fresh−start adjustments 342,775 120,535 146,400 609,710
Balance as of August 30, 2009, net (Successor Company) 354,000 173,000 245,000 772,000
Amortization during period (1,528) (729) (1,256) (3,513)
Effect of translation 1,961 — 1,261 3,222
Balance as of September 30, 2009, net (Successor Company) $ 354,433 $ 172,271 $ 245,005 $ 771,709
Total Intangible Assets, net (Successor Company) $ 756,416 $ 248,271 $ 457,258 $1,461,945
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