Rayovac 2002 Annual Report Download - page 48

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34
35
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Rayovac Corporation and Subsidiaries
(In thousands, except per share amounts)
(3) Inventories
Inventories consist of the following:
September 30,
2001 2002
Raw materials $ 24,271 $ 19,893
Work-in-process 14,015 19,004
Finished goods 53,025 45,378
$ 91,311 $ 84,275
(4) Property, Plant and Equipment
Property, plant and equipment consist of the following:
September 30,
2001 2002
Land, buildings and improvements $ 34,350 $ 34,559
Machinery, equipment and other 175,724 184,087
Construction in process 11,271 10,303
221,345 228,949
Less accumulated depreciation 114,088 126,363
$107,257 $102,586
Machinery, equipment and other includes capitalized leases, net of amortization, totaling $1,242 and $615 at September 30, 2001 and 2002, respectively.
(5) Intangible Assets
Intangible assets consist of the following:
2001 2002
Gross Gross
Carrying Accumulated Net Carrying Accumulated Net
Amount Amortization Intangible Amount Amortization Intangible
Amortized Intangible Assets
Non-compete agreement $ 700 $ 490 $ 210 $ 700 $ 630 $ 70
Proprietary technology 525 275 250 525 308 217
$ 1,225 $ 765 $ 460 $ 1,225 $ 938 $ 287
Pension Intangibles
Under-funded pension $ 3,081 $ — $ 3,081 $ 3,446 $ — $ 3,446
Unamortized Intangible Assets
Trade name $90,000 $4,875 $85,125 $90,000 $4,875 $85,125
North Latin
America America Europe/ROW Total
Goodwill
Balance as of
September 30, 2001, net $1,035 $26,884 $2,489 $30,408
Effect of translation — — 159 159
Balance as of
September 30, 2002, net $1,035 $26,884 $2,648 $30,567