Rayovac 2011 Annual Report Download - page 97

SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Statements of Financial Position
September 30, 2011 and September 30, 2010
(In thousands, except per share amounts)
Successor
Company
2011 2010
Assets
Current assets:
Cash and cash equivalents ............................................ $ 142,414 $ 170,614
Receivables:
Trade accounts receivable, net of allowances of $14,128 and $4,351,
respectively ................................................. 356,605 365,002
Other ........................................................ 37,678 41,445
Inventories ........................................................ 434,630 530,342
Deferred income taxes ............................................... 28,170 35,735
Prepaid expenses and other ........................................... 48,792 56,574
Total current assets ......................................... 1,048,289 1,199,712
Property, plant and equipment, net ......................................... 206,389 201,164
Deferred charges and other ............................................... 36,824 46,352
Goodwill ............................................................. 610,338 600,055
Intangible assets, net .................................................... 1,683,909 1,769,360
Debt issuance costs ..................................................... 40,957 56,961
Total assets ............................................... $3,626,706 $3,873,604
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt .................................... $ 16,090 $ 20,710
Accounts payable .................................................. 323,171 332,231
Accrued liabilities:
Wages and benefits ............................................. 70,945 93,971
Income taxes payable ........................................... 31,606 37,118
Restructuring and related charges .................................. 16,187 23,793
Accrued interest ................................................ 30,467 31,652
Other ........................................................ 118,446 123,297
Total current liabilities ...................................... 606,912 662,772
Long-term debt, net of current maturities .................................... 1,535,522 1,723,057
Employee benefit obligations, net of current portion ........................... 83,802 92,725
Deferred income taxes ................................................... 337,336 277,843
Other ................................................................ 44,637 70,828
Total liabilities ............................................ 2,608,209 2,827,225
Commitments and contingencies
Shareholders’ equity:
Common stock, $.01 par value, authorized 200,000 shares; issued 52,431 and
51,101 shares; outstanding 52,226 and 51,020 shares at September 30, 2011
and September 30, 2010, respectively ................................. 525 514
Additional paid-in capital ............................................ 1,374,097 1,316,461
Accumulated deficit ................................................ (336,063) (260,892)
Accumulated other comprehensive loss ................................. (14,446) (7,497)
1,024,113 1,048,586
Less treasury stock, at cost, 205 and 81 shares, respectively ..................... (5,616) (2,207)
Total shareholders’ equity .................................... 1,018,497 1,046,379
Total liabilities and shareholders’ equity ........................ $3,626,706 $3,873,604
See accompanying notes to consolidated financial statements.
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