Rayovac 2010 Annual Report Download - page 103

SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Statements of Financial Position
September 30, 2010 and 2009
(In thousands, except per share amounts)
Successor
Company
2010 2009
Assets
Current assets:
Cash and cash equivalents ..................................................... $ 170,614 $ 97,800
Receivables:
Trade accounts receivable, net of allowances of $4,351 and $1,011, respectively ...... 365,002 274,483
Other .................................................................. 41,445 24,968
Inventories ................................................................. 530,342 341,505
Deferred income taxes ........................................................ 35,735 28,137
Assets held for sale ........................................................... 12,452 11,870
Prepaid expenses and other ..................................................... 44,122 39,973
Total current assets ................................................... 1,199,712 818,736
Property, plant and equipment, net ................................................... 201,164 212,361
Deferred charges and other ......................................................... 46,352 34,934
Goodwill ....................................................................... 600,055 483,348
Intangible assets, net .............................................................. 1,769,360 1,461,945
Debt issuance costs ............................................................... 56,961 9,422
Total assets ......................................................... $3,873,604 $3,020,746
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt ............................................. $ 20,710 $ 53,578
Accounts payable ............................................................ 332,231 186,235
Accrued liabilities:
Wages and benefits ....................................................... 93,971 88,443
Income taxes payable ..................................................... 37,118 21,950
Restructuring and related charges ............................................ 23,793 26,203
Accrued interest ......................................................... 31,652 8,678
Other .................................................................. 123,297 109,981
Total current liabilities ................................................ 662,772 495,068
Long-term debt, net of current maturities .............................................. 1,723,057 1,529,957
Employee benefit obligations, net of current portion ..................................... 92,725 55,855
Deferred income taxes ............................................................ 277,843 227,498
Other .......................................................................... 70,828 51,489
Total liabilities ...................................................... 2,827,225 2,359,867
Commitments and contingencies
Shareholders’ equity:
Common stock, $.01 par value, authorized 200,000 shares; issued 51,020 shares; outstanding
51,020 shares at September 30, 2010 ........................................... 514 —
Common stock, $.01 par value, authorized 150,000 shares; issued 30,000 shares; outstanding
30,000 shares at September 30, 2009 ........................................... — 300
Additional paid-in capital ...................................................... 1,316,461 724,796
Accumulated deficit .......................................................... (260,892) (70,785)
Accumulated other comprehensive (loss) income ................................... (7,497) 6,568
1,048,586 660,879
Less treasury stock, at cost, 81 and 0 shares, respectively ................................. (2,207) —
Total shareholders’ equity ............................................. 1,046,379 660,879
Total liabilities and shareholders’ equity .................................. $3,873,604 $3,020,746
See accompanying notes to consolidated financial statements.
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