Rayovac 2012 Annual Report Download - page 106

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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
(5) Goodwill and Intangible Assets
Intangible assets consist of the following:
Global Batteries &
Appliances
Global Pet
Supplies
Home and Garden
Business Total
Goodwill:
Balance at September 30, 2010 ................ $268,420 $159,985 $171,650 $ 600,055
Additions ................................. — 10,029 255 10,284
Effect of translation ......................... (272) 271 — (1)
Balance at September 30, 2011 ................ $268,148 $170,285 $171,905 $ 610,338
Additions ................................. — 70,023 15,852 85,875
Effect of translation ......................... 408 (2,376) — (1,968)
Balance at September 30, 2012 ................ $268,556 $237,932 $187,757 $ 694,245
Intangible Assets:
Trade names Not Subject to Amortization
Balance at September 30, 2010 ................ $569,945 $211,533 $ 76,000 $ 857,478
Additions ................................. — 2,630 150 2,780
Intangible asset impairment .................. (23,200) (8,600) (650) (32,450)
Effect of translation ......................... (941) (72) — (1,013)
Balance at September 30, 2011 ................ $545,804 $205,491 $ 75,500 $ 826,795
Additions ................................. — 14,000 8,000 22,000
Reclassification to intangible assets subject to
amortization ............................. (920) (2,530) — (3,450)
Effect of translation ......................... 542 (4,819) — (4,277)
Balance at September 30, 2012 ................ $545,426 $212,142 $ 83,500 $ 841,068
Intangible Assets Subject to Amortization
Balance at September 30, 2010, net ............ $516,324 $230,248 $165,310 $ 911,882
Additions ................................. — 4,193 — 4,193
Amortization during period ................... (33,184) (15,599) (8,912) (57,695)
Effect of translation ......................... (1,667) 401 — (1,266)
Balance at September 30, 2011, net ............ $481,473 $219,243 $156,398 $ 857,114
Additions ................................. — 65,118 17,000 82,118
Reclassification from intangible assets not subject
to amortization .......................... 920 2,530 — 3,450
Amortization during period ................... (32,892) (19,503) (11,271) (63,666)
Effect of translation ......................... (2,389) (2,766) — (5,155)
Balance at September 30, 2012, net ............ $447,112 $264,622 $162,127 $ 873,861
Total Intangible Assets, net at September 30,
2012 ................................... $992,538 $476,764 $245,627 $1,714,929
Intangible assets subject to amortization include proprietary technology, customer relationships and certain
trade names, which were recognized in connection with acquisitions and from the application of fresh-start
reporting. The useful life of the Company’s intangible assets subject to amortization are 4 to 9 years for
technology assets related to the Global Pet Supplies segment, 9 to 17 years for technology assets associated with
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