Rayovac 2015 Annual Report Download - page 126
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SPECTRUM BRANDS HOLDINGS, INC.
SB/RH HOLDINGS, LLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
2014 by type and cumulative costs incurred through September 30, 2015. All costs reflected are within the
Hardware and Home Improvement segment.
Termination
Benefits
Other
Costs Total
(in millions)
Cost of Goods Sold:
For the year ended September 30, 2015 ............. $— $ 1.3 $ 1.3
Operating Expenses:
For the year ended September 30, 2015 ............. (1.5) 10.5 9.0
For the year ended September 30, 2014 ............. 4.5 — 4.5
Cumulative costs through September 30, 2015 ........... 3.0 11.8 14.8
The following is a rollforward of the restructuring accrual related to the HHI business rationalization
initiative for 2015 and 2014.
Termination
Benefits
Other
Costs Total
(in millions)
Accrual balance at September 30, 2013 ................. $— $— $—
Provisions ........................................ 4.5 — 4.5
Cash expenditures .................................. — — —
Accrual balance at September 30, 2014 ................. 4.5 — 4.5
Provisions (adjustments) ............................. (0.9) 1.5 0.6
Cash expenditures .................................. (1.5) — (1.5)
Non-cash items .................................... (0.8) — (0.8)
Accrual balance at September 30, 2015 ................. $1.3 $1.5 $2.8
During the year ended September 30, 2015, the Company recognized $(0.6) million and $10.3 million of
termination and other costs related to this initiative as paid.
Global Expense Rationalization Initiatives
During the third quarter of the fiscal year ended September 30, 2013, the Company implemented a series of
initiatives throughout the Company to reduce operating costs. These initiatives consisted of headcount reductions
in the Global Batteries & Appliances and the Global Pet Supplies segments, and within Corporate. Total costs
associated with these initiatives are expected to be approximately $46 million, and are anticipated to be incurred
112