Rayovac 2013 Annual Report Download - page 73

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Contractual Obligations & Other Commercial Commitments
Contractual Obligations
The following table summarizes our contractual obligations as of September 30, 2013 and the effect such
obligations are expected to have on our liquidity and cash flow in future periods (in millions):
Contractual Obligations
Payments due by Fiscal Year
2014 2015 2016 2017 2018 Thereafter Total
Debt, excluding capital lease obligations ............. $ 99 $ 74 $ 73 $668 $ 9 $2,240 $3,163
Interest payments excluding capital lease obligations . . . 160 155 153 151 127 317 1,063
Capital lease obligations(1) .......................89876 71 109
Operating lease obligations ....................... 40 33 28 23 15 34 173
Employee benefit obligations(2) ................... 9 9 10 10 11 63 112
Total Contractual Obligations(3) ................... $316 $280 $272 $859 $168 $2,725 $4,620
(1) Capital lease payments due by fiscal year include executory costs and imputed interest not reflected in the
Consolidated Statements of Financial Position included in this Annual Report on Form 10-K.
(2) Employee benefit obligations represent the sum of our estimated future minimum required funding for our
qualified defined benefit plans based on actuarially determined estimates and projected future benefit
payments from our unfunded postretirement plans. For additional information about our employee benefit
obligations, see Note 10, “Employee Benefit Plans”, of Notes to Consolidated Financial Statements,
included in this Annual Report on Form 10-K.
(3) At September 30, 2013, our consolidated balance sheet includes tax reserves for uncertain tax
positions. However, it is not possible to predict or estimate the timing of payments for these obligations. The
Company cannot predict the ultimate outcome of income tax audits currently in progress for certain of our
companies; however, it is reasonably possible that during the next 12 months, some portion of our
unrecognized tax benefits could be recognized.
Other Commercial Commitments
The following table summarizes our other commercial commitments as of September 30, 2013, consisting
entirely of standby letters of credit that back the performance of certain of our entities under various credit
facilities, insurance policies and lease arrangements (in millions):
Other Commercial Commitments
Amount of Commitment Expiration by Fiscal Year
2014 2015 2016 2017 2018 Thereafter Total
Letters of credit .................................. $32 $5 $— $— $— $— $37
Total Other Commercial Commitments ................ $32 $5 $— $— $— $— $37
Critical Accounting Policies
Our Consolidated Financial Statements included in this Annual Report on Form 10-K have been prepared in
accordance with U.S. GAAP and fairly present our financial position and results of operations. We believe the
following accounting policies are critical to an understanding of our financial statements. The application of
these policies requires management’s judgment and estimates in areas that are inherently uncertain.
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