Rayovac 2008 Annual Report Download - page 163

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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)
plan assets and obligations as of September 30, its fiscal year end. The Company does not believe the adoption of the measurement date provisions of SFAS 158
will have a material impact on its financial position, results of operations and cash flow.
The adoption of SFAS 158 had no impact on the Company’s results of operations or its cash flows. SFAS 158 did have an incremental effect on individual
line items in the Company’s Consolidated Balance Sheet as of September 30, 2007, as reflected in the following table. Had the Company not been required to
adopt SFAS 158 at September, 30, 2007, an additional minimum liability would have been recognized pursuant to the provisions SFAS No. 87, “Employers’
Accounting for Pensions”. The effect of recognizing the additional minimum liability is included in the table below in the column labeled “Prior to Adopting
SFAS 158”.
The adoption of SFAS 158 on September 30, 2007, resulted in incremental adjustments to the following accounts in the Consolidated Balance Sheet:
At September 30, 2007
Prior to
Adopting
SFAS 158
Effect of
Adopting
SFAS 158 Total
Deferred Tax Asset-Long-term $ 431 $ (431) $ —
Intangible Assets 831,122 (1,824) 829,298
Other Assets 1,967,986 319 1,968,305
Total Employee Benefit Obligation (58,306) 3,836 (54,470)
AOCI (63,764) (1,900) (65,664)
158
Source: Spectrum Brands, Inc, 10-K, December 10, 2008