Rayovac 2009 Annual Report Download - page 199

Table of Contents
Index to Financial Statements SPECTRUM BRANDS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
Geographic Disclosures—Net sales to external customers
Successor
Company Predecessor Company
One Month
Ended
September 30,
2009
Eleven Months
Ended
August 30,
2009 2008 2007
United States $ 113,407 $ 1,166,920 $ 1,272,100 $ 1,144,470
Outside the United States 106,481 843,728 1,154,471 1,188,206
Total net sales to external customers $ 219,888 $ 2,010,648 $ 2,426,571 $ 2,332,676
Geographic Disclosures—Long−lived assets
Successor
Company Predecessor Company
September 30,
2009 2008
United States $ 1,410,459 $ 683,557
Outside the United States 791,551 610,325
Long−lived assets at year end $ 2,202,010 $ 1,293,882
(13) Commitments and Contingencies
The Company has provided for the estimated costs associated with environmental remediation activities at some of its current and former manufacturing
sites. The Company believes that any additional liability in excess of the amounts provided of approximately $4,426, which may result from resolution of
these matters, will not have a material adverse effect on the financial condition, results of operations or cash flows of the Company.
Included in long−term liabilities assumed in connection with the acquisition of Microlite is a provision for “presumed” credits applied to the Brazilian
excise tax on Manufactured Products, or “IPI taxes”. Although a previous ruling by the Brazilian Federal Supreme Court has been issued in favor of a
specific Brazilian taxpayer with similar tax credits, on February 15, 2007 the Brazilian Federal Supreme Court ruled against certain Brazilian taxpayers with
respect to the legality and constitutionality of the IPI “presumed” credits. This decision is applicable to all similarly−situated taxpayers. At September 30,
2009 (Successor Company) and September 30, 2008 (Predecessor Company), these amounts totaled approximately $4,661 and $14,243, respectively, and
are included in Other long−term liabilities in the accompanying Consolidated Statements of Financial Position.
The Company is a defendant in various other matters of litigation generally arising out of the normal course of business.
On February 3, 2009, the Company and all of the Company’s U.S. subsidiaries filed voluntary petitions for reorganization relief under Chapter 11 of
the Bankruptcy Code. The Company and such subsidiaries emerged from bankruptcy on August 28, 2009. With the exception of Spectrum Jungle Labs
Corporation, the related cases of the reorganized debtors were closed as of September 30, 2009. The Company continues to analyze proofs of claim filed
with the bankruptcy court with respect to lease rejection damages and other unsecured claims generally, and the Company may, in its discretion and in
accordance with the confirmed plan of reorganization,
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