Rayovac 2010 Annual Report Download - page 129

Download and view the complete annual report

Please find page 129 of the 2010 Rayovac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 190

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190

SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
The following table summarizes the impact of derivative instruments on the accompanying Consolidated
Statements of Operations for Fiscal 2010 (Successor Company):
Derivatives in ASC 815 Cash Flow
Hedging Relationships
Amount of
Gain (Loss)
Recognized in
AOCI on
Derivatives
(Effective Portion)
Location of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Amount of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Location of
Gain (Loss)
Recognized in
Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Amount of
Gain (Loss)
Recognized in
Income on
Derivatives
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Commodity contracts ............. $ 3,646 Cost of goods sold $ 719 Cost of goods sold $ (1)
Interest rate contracts ............. (13,059) Interest expense (4,439) Interest expense (6,112)(A)
Foreign exchange contracts ........ (752) Net Sales (812) Net sales —
Foreign exchange contracts ........ (4,560) Cost of goods sold 2,481 Cost of goods sold —
Total ...................... $(14,725) $(2,051) $(6,113)
(A) Includes $(4,305) reclassified from AOCI associated with the refinancing of the senior credit facility. (See also Note 7, Debt, for a more
complete discussion of the Company’s refinancing of its senior credit facility.)
The following table summarizes the impact of derivative instruments on the accompanying Consolidated
Statements of Operations for the period from August 31, 2009 through September 30, 2009 (Successor
Company):
Derivatives in ASC 815 Cash Flow
Hedging Relationships
Amount of
Gain (Loss)
Recognized in
AOCI on
Derivatives
(Effective Portion)
Location of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Amount of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Location of
Gain (Loss)
Recognized in
Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Amount of
Gain (Loss)
Recognized in
Income on
Derivatives
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Commodity contracts ......... $530 Cost of goods sold $— Cost of goods sold $—
Foreign exchange contracts ..... (127) Net Sales — Net sales —
Foreign exchange contracts ..... (418) Cost of goods sold — Cost of goods sold —
Total .................. $ (15) $— $—
The following table summarizes the impact of derivative instruments designated as cash flow hedges on the
accompanying Consolidated Statements of Operations for the period from October 1, 2008 through August 30,
2009 (Predecessor Company):
Derivatives in ASC 815 Cash Flow
Hedging Relationships
Amount of
Gain (Loss)
Recognized in
AOCI on
Derivatives
(Effective Portion)
Location of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Amount of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Location of
Gain (Loss)
Recognized in
Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Amount of
Gain (Loss)
Recognized in
Income on
Derivatives
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Commodity contracts ........ $(4,512) Cost of goods sold $(11,288) Cost of goods sold $ 851
Interest rate contracts ........ (8,130) Interest expense (2,096) Interest expense (11,847)(A)
Foreign exchange contracts .... 1,357 Net Sales 544 Net sales —
Foreign exchange contracts .... 9,251 Cost of goods sold 9,719 Cost of goods sold —
Commodity contracts ........ (1,313) Discontinued operations (2,116) Discontinued operations (12,803)
Total ................. $(3,347) $ (5,237) $(23,799)
119