Rayovac 2015 Annual Report Download - page 128

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SPECTRUM BRANDS HOLDINGS, INC.
SB/RH HOLDINGS, LLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
During the year ended September 30, 2015, the Company recognized $2.5 million and $6.3 million of
termination and other costs, respectively, as they were paid. During the year ended September 30, 2014, the
Company recognized $3.0 million and $5.4 million of termination benefits and other costs, respectively, as they
were paid.
Global Cost Reduction Initiatives
During the year ended September 30, 2009, the Company implemented a series of initiatives within the
Global Batteries & Appliances, Global Pet Supplies and Home and Garden segments to reduce operating costs,
and to evaluate opportunities to improve the Company’s capital structure. These initiatives included headcount
reductions and the exit of certain facilities within each of these segments as well as consultation, legal and
accounting fees related to the evaluation of the Company’s capital structure all of which were completed during
the year ended September 30, 2015. The following summarizes costs incurred for the years ended September 30,
2015, 2014 and 2013 by type and cumulative costs incurred through September 30, 2015.
Termination
Benefits
Other
Costs Total
(in millions)
Cost of Goods Sold:
For the year ended September 30, 2015 ............ $— $ 0.4 $ 0.4
For the year ended September 30, 2014 ............ — 0.1 0.1
For the year ended September 30, 2013 ............ 0.2 3.3 3.5
Operating Expenses:
For the year ended September 30, 2015 ............ 0.1 0.7 0.8
For the year ended September 30, 2014 ............ 0.2 1.0 1.2
For the year ended September 30, 2013 ............ 6.4 6.5 12.9
Cumulative costs through September 30, 2015 .......... 38.4 63.4 101.8
The following summarizes the costs incurred for the years ended September 30, 2015, 2014 and 2013, and
the cumulative amount incurred through September 30, 2015 by reporting segment.
Global
Batteries &
Appliances
Global Pet
Supplies
Home and
Garden Corporate Total
(in millions)
Restructuring and related charges:
For the year ended September 30, 2015 .......... $ 0.4 0.8 $— $— $ 1.2
For the year ended September 30, 2014 .......... 0.1 1.2 — — 1.3
For the year ended September 30, 2013 .......... 4.6 11.2 0.6 — 16.4
Cumulative costs as of September 30, 2015 ........... 25.8 50.2 18.2 7.6 101.8
114