Rayovac 2015 Annual Report Download - page 70

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(2) For the year ended September 30, 2015, other includes costs associated with onboarding for a key executive
coupled with costs associated with exiting another key executive.
(3) For the year ended September 30, 2014, other includes costs associated with onboarding for a key executive.
(4) For the year ended September 30, 2013, the pre-acquisition earnings of HHI do not include the TLM Taiwan
business as stand alone financial data is not available for the periods presented. The TLM Taiwan business
is not deemed material to the Company’s operating results.
Below is a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA for each segment and the
consolidated SB/RH Holdings, LLC group for the years ended September 30, 2015, 2014 and 2013:
SB/RH HOLDINGS, LLC
Global
Batteries &
Appliances
Hardware &
Home
Improvement
Global Pet
Supplies
Home and
Garden
Global Auto
Care
Corporate /
Unallocated
Items Consolidated
(in millions)
For the year ended September 30, 2015
Net income (loss), as adjusted ........... $219.6 $166.5 $ 60.0 $108.3 $18.2 $(416.8) $155.8
Income tax expense(1) ................. — — — — — 43.9 43.9
Interest expense(1) .................... — — — — — 271.9 271.9
Depreciation and amortization ........... 71.0 39.4 39.7 13.3 6.6 — 170.0
EBITDA ............................ 290.6 205.9 99.7 121.6 24.8 (101.0) 641.6
Share based compensation .......... — — — — — 41.8 41.8
Acquisition and integration related
charges ....................... 4.6 9.1 13.7 2.3 3.8 25.3 58.8
Restructuring and related charges .... 9.2 9.7 8.9 0.6 — 0.3 28.7
Purchase accounting fair value
adjustment .................... — 0.8 2.2 — 18.7 — 21.7
Venezuela devaluation ............. 2.5 — — — — — 2.5
Other(2) ........................ — — — — — 6.1 6.1
Adjusted EBITDA .................... $306.9 $225.5 $124.5 $124.5 $47.3 $ (27.5) $801.2
For the Year Ended September 30, 2014
Net income (loss), as adjusted ........... $234.6 $157.2 $ 78.7 $ 88.1 $ — $(341.5) $217.1
Income tax expense(1) ................. — — — — — 59.0 59.0
Interest expense(1) .................... — — — — — 202.1 202.1
Depreciation and amortization ........... 73.1 40.4 31.5 12.6 — — 157.6
EBITDA ............................ 307.7 197.6 110.2 100.7 — (80.4) 635.8
Share based compensation .......... — — — — — 44.9 44.9
Acquisition and integration related
charges ....................... 7.8 4.4 — 1.1 — 6.8 20.1
Restructuring and related charges .... 11.1 8.3 3.0 — — 0.5 22.9
Other(3) ........................ — — — — — 1.3 1.3
Adjusted EBITDA .................... $326.6 $210.3 $113.2 $101.8 $ — $ (26.9) $725.0
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