Rayovac 2008 Annual Report Download - page 174

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 following table summarizes restructuring and related charges incurred by type of charge:
2008 2007 2006
Costs included in cost of goods sold:
Breitenbach, France facility closure:
Termination benefits $ — $ 18 $ 259
Other associated costs — 468 —
United & Tetra integration:
Termination benefits 30 149 5,430
Other associated costs 299 13,005 425
European initiatives:
Termination benefits (830) 7,494 14,953
Other associated costs 88 308 —
Latin America initiatives:
Termination benefits — 712 —
Other associated costs 253 9,847 —
Global Realignment initiatives:
Termination benefits 106 (686) —
Other associated costs 154 — —
Ningbo Exit Plan:
Termination benefits 1,230 — —
Other associated costs 15,169 — —
Total included in cost of goods sold 16,499 31,315 21,067
Costs included in operating expenses:
United & Tetra integration:
Termination benefits 1,954 1,112 23,915
Other associated costs 883 12,800 1,791
European initiatives:
Termination benefits — (1,298) 7,936
Other associated costs 35 — —
Latin America initiatives:
Termination benefits 64 363 —
Global Realignment:
Termination benefits 12,338 48,755 —
Other associated costs 7,564 4,979 —
Total included in operating expenses 22,838 66,711 33,642
Total restructuring and related charges $ 39,337 $ 98,026 $ 54,709
2008 Restructuring Initiatives
The Company implemented an initiative within the Global Batteries & Personal Care segment in China to reduce operating costs and rationalize the
Company’s manufacturing structure. These initiatives include the plan to exit the Company’s Ningbo battery manufacturing facility in China (the “Ningbo Exit
Plan”). The Company recorded $16,399 of pretax restructuring and related charges during Fiscal 2008 in connection with the Ningbo Exit Plan. Costs associated
with these initiatives, which are expected to be incurred through September 30, 2009, are projected at approximately $22,500.
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008