Rayovac 2005 Annual Report Download - page 83

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SPECTRUM BRANDS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
September 30, 2005 and 2004
(in thousands, except per share amounts) 2005 2004
Assets
Current assets:
Cash and cash equivalents $ 29,852 $ 13,971
Receivables:
Trade accounts receivable, net of allowances of $34,257 and $23,071, respectively 362,399 269,977
Other 10,996 19,655
Inventories 451,553 264,726
Deferred income taxes 39,231 19,233
Assets held for sale 108,174 9,870
Prepaid expenses and other 45,762 51,262
Total current assets 1,047,967 648,694
Property, plant and equipment, net 304,323 182,396
Deferred charges and other 47,375 35,079
Goodwill 1,429,017 320,577
Intangible assets, net 1,154,397 422,106
Debt issuance costs 39,012 25,299
Total assets $4,022,091 $1,634,151
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 39,308 $ 23,895
Accounts payable 281,954 226,234
Accrued liabilities:
Wages and benefi ts 47,910 40,138
Income taxes payable 40,468 21,672
Restructuring and related charges 16,978 8,505
Accrued interest 31,529 16,302
Liabilities held for sale 22,294 –
Other 76,935 60,094
Total current liabilities 557,376 396,840
Long-term debt, net of current maturities 2,268,025 806,002
Employee benefi t obligations, net of current portion 78,510 69,246
Deferred income taxes 208,251 7,272
Other 67,199 37,368
Total liabilities 3,179,361 1,316,728
Minority interest in equity of consolidated subsidiary – 1,379
Shareholders’ equity:
Common stock, $.01 par value, authorized 150,000 shares; issued 66,625 and
64,219 shares, respectively; outstanding 50,797 and 34,683 shares, respectively 666 642
Additional paid-in capital 671,378 224,962
Retained earnings 267,315 220,483
Accumulated other comprehensive income 10,260 10,621
Notes receivable from offi cers/shareholders – (3,605)
949,619 453,103
Less treasury stock, at cost, 15,828 and 29,536 shares, respectively (70,820) (130,070)
Less unearned restricted stock compensation (36,069) (6,989)
Total shareholders’ equity 842,730 316,044
Total liabilities and shareholders’ equity $4,022,091 $1,634,151
See accompanying notes to consolidated financial statements.
2005 Form 10-K Annual Report
Spectrum Brands, Inc.
2005 ANNUAL REPORT 63