Rayovac 2010 Annual Report Download - page 141

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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
(6) Goodwill and Intangible Assets
Intangible assets consist of the following:
Global Batteries &
Personal Care
Home and Garden
Business
Global Pet
Supplies
Small
Appliances Total
Goodwill:
Balance at September 30, 2008 (Predecessor
Company) ................................... $117,649 $ — $117,819 $ — $ 235,468
Additions ..................................... 2,762 — — — 2,762
Effect of translation ............................. 369 — 306 — 675
Balance at August 30, 2009 (Predecessor Company) . . . $120,780 $ — $118,125 $ — $ 238,905
Fresh-start adjustments ........................... 60,029 187,887 41,239 — 289,155
Balance at August 30, 2009 (Successor Company) ..... $180,809 $187,887 $159,364 $ — $ 528,060
Adjustments for release of valuation allowance ....... (30,363) (17,080) — — (47,443)
Effect of translation ............................. 1,847 — 884 — 2,731
Balance at September 30, 2009 (Successor Company) . . $152,293 $170,807 $160,248 $ — $ 483,348
Additions due to Russell Hobbs Merger ............. — — — 120,079 120,079
Effect of translation ............................. (2,715) — (2,892) 2,235 (3,372)
Balance at September 30, 2010 (Successor Company) . . $149,578 $170,807 $157,356 $122,314 $ 600,055
Intangible Assets:
Trade names Not Subject to Amortization
Balance at 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 at 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 at August 30, 2009 (Successor Company) ..... $401,000 $ 76,000 $210,500 $ — $ 687,500
Effect of translation ............................. 983 — 1,753 — 2,736
Balance at September 30, 2009 (Successor Company) . . $401,983 $ 76,000 $212,253 $ — $ 690,236
Additions due to Russell Hobbs Merger ............. — — — 170,930 170,930
Effect of translation ............................. (3,878) — (6,920) 7,110 (3,688)
Balance at September 30, 2010 (Successor Company) . . $398,105 $ 76,000 $205,333 $178,040 $ 857,478
Intangible Assets Subject to Amortization
Balance at 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 at 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 at 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 at September 30, 2009, net (Successor
Company) ................................... $354,433 $172,271 $245,005 $ — $ 771,709
Additions due to Russell Hobbs Merger ............. — — — 192,397 192,397
Amortization during period ....................... (17,755) (8,750) (14,861) (4,554) (45,920)
Effect of translation ............................. (3,562) — (3,876) 1,134 (6,304)
Balance at September 30, 2010, net (Successor
Company) ................................... $333,116 $163,521 $226,268 $188,977 $ 911,882
Total Intangible Assets, net at September 30, 2010
(Successor Company) .......................... $731,221 $239,521 $431,601 $367,017 $1,769,360
131