Rayovac 2004 Annual Report Download - page 103

Download and view the complete annual report

Please find page 103 of the 2004 Rayovac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

Consolidating Balance Sheet
September 30, 2004
Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations
Consolidated
Total
ASSETS
Current assets:
Cash and cash equivalents ................ $ 1,994 $ 53 $ 13,742 $ — $ 15,789
Receivables:
Trade accounts receivables, net of
allowances ...................... 100,783 — 169,194 — 269,977
Other ............................ (45,690) 201,370 99,434 (235,459) 19,655
Inventories ............................ 120,645 — 148,024 (3,943) 264,726
Deferred income taxes ................... 8,611 7 8,859 1,756 19,233
Prepaid expenses and other ............... 23,372 — 37,760 — 61,132
Total current assets ..................... 209,715 201,430 477,013 (237,646) 650,512
Property, plant and equipment, net ............. 78,034 82 104,280 — 182,396
Deferred charges and other ................... 70,864 — 3,363 (39,148) 35,079
Goodwill ................................. 139,454 — 181,123 — 320,577
Intangible assets, net ........................ 247,551 — 174,742 (187) 422,106
Debt issuance costs ......................... 25,299 — — — 25,299
Investments in subsidiaries ................... 666,586 566,376 — (1,232,962) —
Total assets ........................... $1,437,503 $767,888 $940,521 $(1,509,943) $1,635,969
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt ........ $ 121,807 $ — $ 20,859 $ (118,771) $ 23,895
Accounts payable ...................... 131,610 90,812 122,048 (116,418) 228,052
Accrued liabilities:
Wages and benefits ................. 15,547 — 24,591 — 40,138
Income taxes payable ............... 4,959 — 16,713 — 21,672
Restructuring and related charges ...... 7,267 — 1,238 — 8,505
Accrued interest .................... 17,604 — (1,302) — 16,302
Other ............................ 14,894 — 45,200 — 60,094
Total current liabilities .............. 313,688 90,812 229,347 (235,189) 398,658
Long-term debt, net of current maturities ........ 782,867 — 62,280 (39,145) 806,002
Employee benefit obligations, net of current
portion ................................. 30,297 — 38,949 — 69,246
Deferred income taxes ....................... (13,356) 9,111 11,517 — 7,272
Other .................................... 2,196 — 35,172 — 37,368
Total liabilities ......................... 1,115,692 99,923 377,265 (274,334) 1,318,546
Minority interest in equity of consolidated
subsidiary ............................... 1,379 1,379 1,379 (2,758) 1,379
Shareholders’ equity:
Common stock ......................... 642 1 378 (379) 642
Additional paid-in capital ................ 224,844 434,032 432,657 (866,571) 224,962
Retained earnings ...................... 220,142 238,726 136,964 (375,349) 220,483
Accumulated other comprehensive income
(loss) .............................. 15,468 (6,173) (8,122) 9,448 10,621
Notes receivable from officers/
shareholders ......................... (3,605) — — — (3,605)
457,491 666,586 561,877 (1,232,851) 453,103
Less treasury stock, at cost ............... (130,070) — — — (130,070)
Less unearned restricted stock
compensation ........................ (6,989) — — — (6,989)
Total shareholders’ equity ................ 320,432 666,586 561,877 (1,232,851) 316,044
Total liabilities and shareholders’ equity .... $1,437,503 $767,888 $940,521 $(1,509,943) $1,635,969
88