Rayovac 2015 Annual Report Download - page 58

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2015(1) 2014(2) 2013(3) 2012(4) 2011
(in millions, except per share data)
Cash Flow and Related Data:
Net cash provided by operating activities ............. $ 444.3 $ 432.7 $ 256.5 $ 258.8 $ 227.4
Capital expenditures ............................. 89.1 73.3 82.0 46.8 36.2
Depreciation and amortization ..................... 170.0 157.6 139.9 104.6 104.8
Statement of Financial Position Data (at
September 30):
Cash and cash equivalents ......................... $ 247.9 $ 194.6 $ 207.3 $ 158.0 $ 142.4
Working capital(8) .............................. 700.7 518.9 530.5 450.8 441.4
Total assets .................................... 7,298.0 5,513.0 5,626.7 3,751.6 3,626.7
Total debt ...................................... 3,971.0 2,990.8 3,218.9 1,669.3 1,551.6
Total equity .................................... 1,606.8 1,086.8 940.1 989.1 1,018.5
(1) The information presented as of and for the year ended September 30, 2015 includes the results of the
Armored AutoGroup operations since the acquisition date of May 21, 2015; the results of the Salix
operations since the acquisition date of January 16, 2015; the results of the European IAMS and Eukanuba
operations since the acquisition date of December 31, 2014; and the results of the Tell operations since the
acquisition date of October 1, 2014.
(2) The information presented as of and for the year ended September 30, 2014 includes the results of the
Liquid Fence operations since the acquisition date of January 2, 2014.
(3) The information presented as of and for the year ended September 30, 2013 includes the results of the HHI
Business operations since the acquisition date of December 17, 2012, and the results of TLM Taiwan since
the acquisition date of April 8, 2013.
(4) The information presented as of and for the year ended September 30, 2012 includes the results of the
FURminator operations since the acquisition date of December 22, 2011, and the results of Black Flag
operations since the acquisition date of October 31, 2011.
(5) During the year ended September 30, 2011, we recorded a non-cash pretax impairment charge of
approximately $32.5 million.
(6) During the year ended September 30, 2015, there was interest expense of $58.8 million incurred related to
the financing of the acquisition of AAG and the refinancing of the then-existing senior credit facility and
asset based revolving loan facility. During the year ended September 30, 2014, a non-cash charge of
$9.2 million was recognized as a result of the write-off of unamortized debt issuance costs and unamortized
discounts in connection with the amendment of the Company’s then existing term loans. During the year
ended September 30, 2013, there were $105.6 million fees and expenses along with a$10.9 million non-cash
charge for the write-off of unamortized debt issuance cost and unamortized premiums in connection with
the extinguishment and replacement of the Company’s 9.5% Notes and then-existing term loan in
conjunction with the acquisition of the HHI Business. During the year ended September 30, 2012, there was
a non-cash charge of $2.1 million related to the write-off of unamortized debt issuance costs and
unamortized premiums in connection with the extinguishment and refinancing of the Company’s 12%
Notes. During the year ended September 30, 2011, there was a non-cash charge of $24.4 million related to
the write-off of unamortized debt issuance costs and unamortized discounts in conjunction with the
refinancing of the Company’s Term Loan facility.
(7) During the year ended September 30, 2015, there was a non-cash benefit of $20.2 million from a decrease in
the valuation allowance against net deferred tax assets, and a $22.8 million benefit due to the reversal of
valuation allowance in conjunction with the acquisition of the AAG business. During the year ended
September 30, 2014, there was a non-cash benefit of approximately $115.6 million from a decrease in the
valuation allowance against net deferred tax assets. During the year ended September 30, 2013, there was a
non-cash charge of approximately $64.4 million from an increase in the valuation allowance against net
deferred tax assets, net of a $49.8 million benefit due to the reversal of a portion of the valuation allowance
in conjunction with the acquisition of the HHI Business. During the year ended September 30, 2012, there
was a non-cash charge of approximately $13.9 million from an increase in the valuation allowance against
44