Rayovac 2010 Annual Report Download - page 62

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each cost center. All capital expenditures are related to operating segments. Variable allocations of assets are not
made for segment reporting.
Global strategic initiatives and financial objectives for each reportable segment are determined at the
corporate level. Each reportable segment is responsible for implementing defined strategic initiatives and
achieving certain financial objectives and has a general manager responsible for the sales and marketing
initiatives and financial results for product lines within that segment. Financial information pertaining to our
reportable segments is contained in Note 11, Segment Information, of Notes to Consolidated Financial
Statements included in this Annual Report on Form 10-K.
Below is a reconciliation of GAAP Net Income (Loss) from Continuing Operations to Adjusted EBITDA by
segment for Fiscal 2010 and Fiscal 2009:
Fiscal 2010
Global
Batteries &
Personal Care
Global Pet
Supplies
Home and
Garden
Business
Small
Appliances
Corporate /
Unallocated
Items(a)
Consolidated
SB Holdings
(in millions)
Net Income (loss) ...................... $137 $ 49 $ 40 $— $(416) $(190)
Loss from discontinued operations, net
oftax ......................... — — 3 — — 3
Income tax expense ................ — — — — 63 63
Interest expense ................... — — — — 195 195
Write-off unamortized discounts and
financing fees(b) ................ — — — — 82 82
Pre-acquisition earnings ............. — — — 66 — 66
Restructuring and related charges ..... 4 7 8 — 5 24
Acquisition and integration related
charges ........................ — — — 15 24 39
Reorganization items ............... — — — — 3 3
Accelerated depreciation and
amortization(c) .................. — — (1) — (2) (3)
Fresh-start inventory fair value
adjustment ..................... 18 14 2 — — 34
Russell Hobbs inventory fair value
adjustment ..................... — — — 3 — 3
Brazilian IPI credit/other ............ (5) — — — — (5)
Adjusted EBIT ........................ $154 $ 70 $ 52 $ 84 $ (46) $ 314
Depreciation and amortization ........ 52 28 15 6 17 118
Adjusted EBITDA ..................... $206 $ 98 $ 67 $ 90 $ (29) $ 432
52