Rayovac 2007 Annual Report Download - page 39

Download and view the complete annual report

Please find page 39 of the 2007 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 84

  • 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

SPECTRUM BRANDS | 2007 ANNUAL REPORT 37
Years Ended September 30, 2007, 2006 and 2005
Accumulated Notes
Retained Other Receivable Total
Additional Earnings, Comprehensive from Shareholders’
Common Stock Paid-In (Accumulated Income, Officers/ Treasury Equity
(In thousands) Shares Amount Capital Deficit) Net of tax Shareholders Stock (Deficit)
Balances at September 30, 2004 34,683 $642 $ 217,973 $ 220,483 $ 10,621 $(3,605) $(130,070) $ 316,044
Net income – – – 46,832 – – – 46,832
Adjustment of additional
minimum pension liability – – – – (6,741) – – (6,741)
Translation adjustment – – – – 4,696 – – 4,696
Net gain on derivative instruments – – – – 1,684 – – 1,684
Comprehensive income 46,471
Issuance of restricted stock 1,242 12 (12) – – – – –
Forfeiture of restricted stock (112) (1) 1 – – – – –
Exercise of stock options 1,276 13 29,019 – – – – 29,032
Treasury shares issued 13,708 – 378,819 – – – 59,250 438,069
Note payments from officers/shareholders – – – – – 3,605 – 3,605
Amortization of unearned compensation – – 9,509 – – – – 9,509
Balances at September 30, 2005 50,797 $666 $635,309 $ 267,315 $10,260 $ – $ (70,820) $ 842,730
Net loss – – – (433,972) – – – (433,972)
Adjustment of additional minimum pension liability – – – – 7,034 – – 7,034
Translation adjustment – – – – 14,261 – – 14,261
Net gain on derivative instruments – – – – 8,084 – – 8,084
Comprehensive loss (404,593)
Issuance of restricted stock 965 10 (10) – – – – –
Forfeiture of restricted stock (196) (2) 2 – – – – –
Exercise of stock options 28 – 445 – – – – 445
Stock option expense – – 729 – – – – 729
Treasury shares surrendered (103) – – – – – (2,263) (2,263)
Amortization of unearned compensation – – 15,169 – – – – 15,169
Balances at September 30, 2006 51,491 $ 674 $ 651,644 $ (166,657) $39,639 $ – $ (73,083) $ 452,217
Net loss – – – (596,713) – – – (596,713)
Adjustment of additional minimum pension liability – – – – 1,016 – – 1,016
Translation adjustment – – – – 44,489 – – 44,489
Other unrealized gains and losses – – – – (17,580) – – (17,580)
Comprehensive loss (568,788)
Adoption of FAS 158, net of tax – – – – (1,900) – – (1,900)
Issuance of restricted stock 1,689 15 (15) – – – – –
Forfeiture of restricted stock (199) – – – – – – –
Exercise of stock options 149 1 690 – – – – 691
Stock option expense – – 115 – – – – 115
Adjustment for tax benefit realized – – (4,374) – – – – (4,374)
Treasury shares surrendered (365) – – – – – (3,003) (3,003)
Amortization of unearned compensation – – 21,214 – – – – 21,214
Balances at September 30, 2007 52,765 $690 $669,274 $(763,370) $65,664 $ – $ (76,086) $(103,828)
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) AND
COMPREHENSIVE INCOME (LOSS)
Spectrum Brands, Inc.