Rayovac 2009 Annual Report Download - page 207

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 expenses as incurred by Successor Company during the one month period ended September 30, 2009, and by
Predecessor Company during the eleven month period ended August 30, 2009, the cumulative amount incurred from inception of the initiative through
September 30, 2009 and the total future expected costs to be incurred associated with the Global Realignment Initiatives by operating segment:
Global
Batteries and
Personal Care Home and Garden Corporate Total
Restructuring and related charges during the one month period ended September 30,
2009 (Successor Company) $ (96) $ 82 $ 152 $ 138
Restructuring and related charges during the eleven month period ended August 30,
2009 (Predecessor Company) $ 5,251 $ 1,211 $ 5,173 $11,635
Restructuring and related charges since initiative inception $ 47,650 $ 7,558 $ 29,774 $84,982
Total future restructuring and related charges expected $ — $ 90 $ 300 $ 390
2006 Restructuring Initiatives
The Predecessor Company implemented a series of initiatives within the Global Batteries & Personal Care segment in Europe to reduce operating
costs and rationalize the Company’s manufacturing structure (the “European Initiatives”). These initiatives, which are substantially complete, include the
relocation of certain operations at the Ellwangen, Germany packaging center to the Dischingen, Germany battery plant, transferring private label battery
production at the Company’s Dischingen, Germany battery plant to the Company’s manufacturing facility in China and restructuring its sales, marketing
and support functions. The Company recorded $7 and $11 of pretax restructuring and related charges during the one month period ended September 30,
2009 (Successor Company) and the eleven month period ended August 30, 2009 (Predecessor Company), respectively, related to the European Initiatives.
The Predecessor Company recorded $(707) and $6,504 of pretax restructuring and related charges during Fiscal 2008 and Fiscal 2007, respectively, in
connection with the European Initiatives. The Company has recorded pretax restructuring and related charges of $27,057 since the inception of the
European Initiatives.
The following table summarizes the remaining accrual balance associated with the 2006 initiatives and activity that have occurred during Fiscal 2009:
European Initiatives Summary
Termination
Benefits Other Costs Total
Accrual balance at September 30, 2008 (Predecessor Company) $ 3,054 $ 479 $3,533
Cash expenditures (463) (172) (635)
Non−cash items 32 12 44
Accrual balance at September 30, 2009 (Successor Company) $ 2,623 $ 319 $2,942
Expensed as incurred(A) $ — $ 18 $ 18
(A) Consists of amounts not impacting the accrual for restructuring and related charges.
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