Rayovac 2009 Annual Report Download - page 165

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 the impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements
of Operations for the eleven month period ended August 30, 2009, net of tax (Predecessor Company):
Derivatives in ASC 815 Cash Flow
Hedging Relationships
Amount of
Gain (Loss)
Recognized in
Accumulated
OCI on
Derivatives
(Effective Portion)
Location of
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Amount of
Gain (Loss)
Reclassified from
Accumulated
OCI into Income
(Effective Portion)
Location of
Gain (Loss)
Recognized in
Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Amount of
Gain (Loss)
Recognized in
Income on
Derivatives
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Commodity contracts $ 1,210 Cost of goods sold $ (4,211) Cost of goods sold $ 25
Interest rate contracts (4,747) Interest expense (159) Interest expense (8,193)(A)
Foreign exchange contracts 150 Net Sales 52 Net sales —
Foreign exchange contracts 1,571 Cost of goods sold 5,260 Cost of goods sold —
Commodity contracts — Discontinued operations (243) Discontinued operations (1,643)
Total $ (1,816) $ 699 $ (9,811)
(A) Included in this amount is $(6,191) pre−tax, $(3,839) net of tax, reflected in the Derivatives Not Designated as Hedging Instruments Under ASC 815 table below, as a result of the
de−designation of a cash flow hedge as described below.
The following table summarizes the impact of derivative instruments designated as cash flow hedges on the accompanying Consolidated Statements
of Operations for Fiscal 2008 and Fiscal 2007, respectively, net of tax (Predecessor Company):
Derivatives in ASC 815 Cash Flow
Hedging Relationships
Amount of
Gain (Loss)
Recognized in
Accumulated
OCI on
Derivatives
(Effective Portion) Location of Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
Amount of
Gain (Loss)
Reclassified from
Accumulated
OCI into Income
(Effective Portion)
Location of
Gain (Loss)
Recognized in
Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Amount of
Gain (Loss)
Recognized in
Income on
Derivatives
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
Twelve month
period ended Twelve month period ended Twelve month period ended
2008 2007 2008 2007 2008 2007
Commodity contracts $(9,778) $ (3,937) Cost of goods sold $ (5,583) $ 2,766 Cost of goods sold $ (676) $ (732)
Interest rate contracts (2,945) (4,566) Interest expense 822 1,656 Interest expense — —
Foreign exchange contracts 576 (1,771) Net Sales (915) — Net sales — —
Foreign exchange contracts 1,191 (6,604) Cost of goods sold (6,919) (1,718) Cost of goods sold — —
Commodity contracts 2,692 3,620 Discontinued operations 5,434 2,194 Discontinued operations (86) 58
Total $(8,264) $(13,258) $(7,161) $ 4,898 $ (762) $ (674)
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