Rayovac 2013 Annual Report Download - page 47

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Successor
Company
Predecessor
Company
2013 2012 2011 2010
Period from
August 31, 2009
through
September 30,
2009
Period from
October 1, 2008
through
August 30,
2009
Statement of Operations Data:
Net sales ....................... $4,085.6 $3,252.4 $3,186.9 $2,567.0 $ 219.9 $ 2,010.6
Gross profit .................... 1,390.3 1,115.7 1,128.9 921.4 64.4 751.8
Operating income(1) ............. 351.2 301.7 227.9 168.8 0.1 156.8
Interest expense(12) .............. 375.6 191.9 208.3 277.0 17.0 172.9
Other expense (income), net ....... 3.5 0.9 2.5 12.3 (0.8) 3.3
Reorganization items expense
(income), net ................. — — — 3.6 4.0 (1,142.8)
Income (loss) from continuing
operations before income taxes . . . (28.0) 109.0 17.1 (124.2) (20.0) 1,123.4
Income tax expense .............. 27.4 60.4 92.3 63.2 51.2 22.6
(Loss) income from discontinued
operations, net of tax(2) ......... — — — (2.7) 0.4 (86.8)
Net income (loss)(3)(4)(5)(6)(7) .... (55.3) 48.6 (75.2) (190.1) (70.8) 1,013.9
Less: Net income (loss) attributable
to noncontrolling interest ........ (0.1) — — — — —
Net income (loss) attributable to
controlling interest ............. (55.2) 48.6 (75.2) (190.1) (70.8) 1,013.9
Restructuring and related
charges—cost of goods sold(8) . . . 10.0 9.8 7.8 7.2 0.2 13.2
Restructuring and related
charges—operating expenses(8) . . 24.0 9.7 20.8 17.0 1.6 30.9
Per Share Data:
Net (loss) income per common share
Basic ...................... $ (1.06) $ 0.94 $ (1.47) $ (5.28) $ (2.36) $ 19.76
Diluted .................... (1.06) 0.91 (1.47) (5.28) (2.36) 19.76
Average shares outstanding
Basic ...................... 52.0 51.6 51.1 36.0 30.0 51.3
Diluted(9) .................. 52.0 53.3 51.1 36.0 30.0 51.3
Cash Flow and Related Data:
Net cash provided by operating
activities ..................... $ 256.5 $ 254.8 $ 227.4 $ 57.3 $ 75.0 $ 1.6
Capital expenditures(10) .......... 82.0 46.8 36.2 40.3 2.7 8.1
Depreciation and amortization
(excluding amortization of debt
issuance costs)(10) ............. 183.8 133.8 135.1 117.4 8.6 58.5
Statement of Financial Position
Data (at period end):
Cash and cash equivalents ......... $ 207.3 $ 158.0 $ 142.4 $ 170.6 $ 97.8
Working capital(11) .............. 530.5 450.8 441.4 536.9 323.7
Total assets ..................... 5,626.7 3,751.6 3,626.7 3,873.7 3,020.7
Total long-term debt, net of current
maturities .................... 3,115.9 1,652.9 1,535.5 1,723.1 1,530.0
Total debt ...................... 3,218.9 1,669.3 1,551.6 1,743.8 1,583.5
Total shareholders’ equity ......... 940.1 989.1 1,018.5 1,046.4 660.9
(1) Pursuant to the guidance in Financial Accounting Standards Board Accounting Standards Codification
Topic 350: “Intangibles-Goodwill and Other,” we conduct annual impairment testing of goodwill and
indefinite-lived intangible assets. As a result of these analyses we recorded non-cash pretax impairment
charges of approximately $32 million and $34 million in Fiscal 2011 and the period from October 1, 2008
through August 30, 2009, respectively. No non-cash impairment charges were recorded during Fiscal 2013,
37