Rayovac 2010 Annual Report Download - page 148
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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
At September 30, 2009, the Company had an aggregate amount outstanding under its then-existing asset
based revolving loan facility of $84,225 which included a supplemental loan of $45,000 and $6,000 in
outstanding letters of credit.
(8) Income Taxes
Income tax (benefit) expense was calculated based upon the following components of (loss) income from
continuing operations before income tax:
Successor
Company Predecessor Company
2010
Period from
August 31, 2009
through
September 30,
2009
Period from
October 1, 2008
through
August 30,
2009 2008
Pretax (loss) income:
United States .............................. $(230,262) $(28,043) $ 936,379 $(654,003)
Outside the United States .................... 106,079 8,043 186,975 (260,815)
Total pretax (loss) income ........................ $(124,183) $(20,000) $1,123,354 $(914,818)
The components of income tax expense (benefit) are as follows:
Successor
Company Predecessor Company
2010
Period from
August 31, 2009
through
September 30,
2009
Period from
October 1, 2008
through
August 30,
2009 2008
Current:
Foreign ..................................... 44,481 $ 3,111 $24,159 $ 20,964
State ....................................... 2,907 282 (364) 2,089
Total current ................................. 47,388 3,393 23,795 23,053
Deferred:
Federal ..................................... 22,119 49,790 (1,599) 27,109
Foreign ..................................... (6,514) (1,266) 1,581 (63,064)
State ....................................... 196 (724) (1,166) 3,442
Total deferred ................................ 15,801 47,800 (1,184) (32,513)
Income tax (benefit) expense ........................ $63,189 $51,193 $22,611 $ (9,460)
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