Rayovac 2008 Annual Report Download - page 150
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Table of Contents
Index to Financial Statements
SPECTRUM BRANDS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
The remaining balance in Assets held for sale in the Consolidated Balance Sheets as of September 30, 2007, consisted primarily of a distribution facility in
the Dominican Republic and manufacturing facilities in France and Brazil.
(6) Intangible Assets
Intangible assets consist of the following:
Global Batteries &
Personal Care Home & Garden
Global Pet
Supplies Total
Goodwill:
Balance as of September 30, 2006 $ 330,465 $ 297,330 $ 502,389 $ 1,130,184
Impairment charge (214,039) (138,135) — (352,174)
Effect of translation 13,473 1,883 27,361 42,717
Balance as of September 30, 2007 $ 129,899 $ 161,078 $ 529,750 $ 820,727
Purchase price allocation during period — (1,064) (379) (1,443)
Impairment charge (16,193) (160,014) (425,727) (601,934)
Effect of translation 3,943 — 14,175 18,118
Balance as of September 30, 2008 $ 117,649 $ — $ 117,819 $ 235,468
Intangible Assets:
Trade Names Not Subject to Amortization
Balance as of September 30, 2006, net $ 393,110 $ 146,634 $ 297,200 $ 836,944
Additions — — 37 37
Purchase price allocation during period (3,236) — — (3,236)
Impairment charge (23,400) (9,136) (1,000) (33,536)
Effect of translation 21,315 902 14,400 36,617
Balance as of September 30, 2007, net $ 387,789 $ 138,400 $ 310,637 $ 836,826
Purchase price allocation during period (23,781) — — (23,781)
Impairment charge (85,700) (81,400) (97,900) (265,000)
Effect of translation 7,952 — 5,608 13,560
Balance as of September 30, 2008, net $ 286,260 $ 57,000 $ 218,345 $ 561,605
Intangible Assets Subject to Amortization
Balance as of September 30, 2006, net $ 12,304 $ 78,168 $ 130,898 $ 221,370
Additions — — 582 582
Amortization during period (997) — (12,849) (13,846)
Impairment charge — (4,249) — (4,249)
Effect of translation 1,259 428 4,674 6,361
Balance as of September 30, 2007, net $ 12,566 $ 74,347 $ 123,305 $ 210,218
Purchase price allocation during period 126 — 39 165
Amortization during period (1,142) (15,990) (13,575) (30,707)
Effect of translation 279 — 1,249 1,528
Balance as of September 30, 2008, net $ 11,829 $ 58,357 $ 111,018 $ 181,204
Total Intangible Assets, net $ 298,089 $ 115,357 $ 329,363 $ 742,809
145
Source: Spectrum Brands, Inc, 10-K, December 10, 2008