Rayovac 2012 Annual Report Download - page 129

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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
(11) Segment Information
The Company manages its business in three vertically integrated, product-focused reporting segments: (i) Global
Batteries & Appliances; (ii) Global Pet Supplies; and (iii) the Home and Garden Business. See Note 1,
“Description of Business”, for additional information regarding the Company’s realignment of its reporting
segments.
Global strategic initiatives and financial objectives for each reportable segment are determined at the
corporate level. Each reportable segment is responsible for implementing defined strategic initiatives and
achieving certain financial objectives, and has a general manager responsible for the sales and marketing
initiatives and financial results for product lines within that segment.
Net sales and Cost of goods sold to other business segments have been eliminated. The gross contribution of
intersegment sales is included in the segment selling the product to the external customer. Segment net sales are
based upon the segment from which the product is shipped.
The operating segment profits do not include restructuring and related charges, acquisition and integration
related charges, impairment charges, reorganization items expense, net, interest expense, interest income and
income tax expense. Expenses associated with certain general and administrative functions necessary to reflect
the operating segments on a standalone basis have also been excluded in the determination of reportable segment
profits. Corporate expenses primarily include general and administrative expenses and the costs of global long-
term incentive compensation plans which are evaluated on a consolidated basis and not allocated to the
Company’s operating segments. All depreciation and amortization included in income from operations is related
to operating segments or corporate expense. Costs are identified to operating segments or corporate expense
according to the function of each cost center.
All capital expenditures are related to operating segments. Variable allocations of assets are not made for
segment reporting.
Segment information for the Company for Fiscal 2012, Fiscal 2011 and Fiscal 2010, is as follows:
Net sales to external customers
2012 2011 2010
Global Batteries & Appliances ................................. $2,249,939 $2,254,153 $1,658,123
Global Pet Supplies .......................................... 615,508 578,905 566,335
Home and Garden Business ................................... 386,988 353,858 342,553
Total segments .............................................. $3,252,435 $3,186,916 $2,567,011
Depreciation and amortization
2012 2011 2010
Global Batteries & Appliances ................................. $ 63,618 $ 68,084 $ 57,557
Global Pet Supplies .......................................... 27,702 24,274 28,538
Home and Garden Business ................................... 13,296 12,375 14,418
Total segments .............................................. 104,616 104,733 100,513
Corporate .................................................. 29,164 30,416 16,905
Total Depreciation and amortization ............................. $ 133,780 $ 135,149 $ 117,418
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