Rayovac 2009 Annual Report Download - page 135

Table of Contents
Index to Financial Statements SPECTRUM BRANDS, INC. AND SUBSIDIARIES
Consolidated Statements of Financial Position
September 30, 2009 and 2008
(In thousands, except per share amounts)
Successor
Company Predecessor Company
2009 2008
Assets
Current assets:
Cash and cash equivalents $ 97,800 $ 104,773
Receivables:
Trade accounts receivable, net of allowances of $1,011 and $18,102, respectively 274,483 353,949
Other 24,968 40,756
Inventories 341,505 383,260
Deferred income taxes 28,137 13,957
Assets held for sale 11,870 7,452
Prepaid expenses and other 39,973 49,450
Total current assets 818,736 953,597
Property, plant and equipment, net 212,361 234,805
Deferred charges and other 34,934 44,129
Goodwill 483,348 235,468
Intangible assets, net 1,461,945 742,809
Debt issuance costs 9,422 36,671
Total assets $3,020,746 $ 2,247,479
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long−term debt $ 53,578 $ 48,637
Accounts payable 186,235 278,126
Accrued liabilities:
Wages and benefits 88,443 72,299
Income taxes payable 21,950 10,272
Restructuring and related charges 26,203 34,559
Accrued interest 8,678 50,514
Other 109,981 87,672
Total current liabilities 495,068 582,079
Long−term debt, net of current maturities 1,529,957 2,474,782
Employee benefit obligations, net of current portion 55,855 47,694
Deferred income taxes 227,498 114,674
Other 51,489 55,488
Total liabilities 2,359,867 3,274,717
Commitments and contingencies
Shareholders’ deficit:
New Common Stock (as of September 30, 2009), $.01 par value, authorized 150,000 shares; issued 30,000 shares;
outstanding 30,000 shares.
Old Common stock (as of September 30, 2008), $.01 par value, authorized 150,000 shares; issued 69,202 shares;
outstanding 52,775 shares 300 692
Additional paid−in capital 724,796 674,370
Accumulated deficit (70,785) (1,694,915)
Accumulated other comprehensive income 6,568 69,445
660,879 (950,408)
Less treasury stock, at cost, 0 and 16,297 shares, respectively — (76,830)
Total shareholders’ equity (deficit) 660,879 (1,027,238)
Total liabilities and shareholders’ equity (deficit) $3,020,746 $ 2,247,479
See accompanying notes to consolidated financial statements.
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