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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share amounts)
(1) Description of Business
Spectrum Brands Holdings, Inc., a Delaware corporation (“SB Holdings”), is a diversified global branded
consumer products company and was created in connection with the combination of Spectrum Brands, Inc.
(“Spectrum Brands”), a global branded consumer products company and Russell Hobbs, Inc. (“Russell Hobbs”),
a global branded small appliance company, to form a new combined company (the “Merger”). The Merger was
consummated on June 16, 2010. As a result of the Merger, both Spectrum Brands and Russell Hobbs are wholly-
owned subsidiaries of SB Holdings and Russell Hobbs is a wholly-owned subsidiary of Spectrum Brands. SB
Holdings’ common stock trades on the New York Stock Exchange (the “NYSE”) under the symbol “SPB.”
Unless the context indicates otherwise, the term the “Company,” is used to refer to SB Holdings and its
subsidiaries subsequent to the Merger and Spectrum Brands prior to the Merger.
The Company’s operations include the worldwide manufacturing and marketing of alkaline, zinc carbon and
hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of
rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products
and hair care appliances. The Company’s operations also include the manufacturing and marketing of specialty
pet supplies. The Company also manufactures and markets herbicides, insecticides and insect repellents in North
America. The Company also designs, markets and distributes a broad range of branded small appliances and
personal care products. The Company’s operations utilize manufacturing and product development facilities
located in the United States (“U.S.”), Europe, Latin America and Asia.
The Company sells its products in approximately 140 countries through a variety of trade channels,
including retailers, wholesalers and distributors, hearing aid professionals, industrial distributors and original
equipment manufacturers and enjoys name recognition in its markets under the Rayovac, VARTA and
Remington brands, each of which has been in existence for more than 80 years, and under the Tetra, 8-in-1,
Dingo, Nature’s Miracle, Spectracide, Cutter, Hot Shot, Black & Decker, George Foreman, Russell Hobbs,
Farberware, Black Flag, FURminator and various other brands.
The Company’s global branded consumer products have positions in six major product categories: consumer
batteries; small appliances; pet supplies; electric shaving and grooming; electric personal care; and home and
garden controls. Effective October 1, 2010, the Company’s chief operating decision-maker manages the
businesses of the Company in three vertically integrated, product-focused reporting segments: (i) Global
Batteries & Appliances, which consists of the Company’s worldwide battery, electric shaving and grooming,
electric personal care and small appliances primarily in the kitchen and home product categories (“Global
Batteries & Appliances”); (ii) Global Pet Supplies, which consists of the Company’s worldwide pet supplies
business (“Global Pet Supplies”); and (iii) Home and Garden Business, which consists of the Company’s home
and garden and insect control business (the “Home and Garden Business”). The current reporting segment
structure reflects the combination of the former Global Batteries & Personal Care segment (“Global Batteries &
Personal Care”), which consisted of the worldwide battery, electric shaving and grooming and electric personal
care products, with substantially all of the former Small Appliances segment (“Small Appliances”), which
consisted of the Russell Hobbs business acquired on June 16, 2010, to form the Global Batteries & Appliances
segment. In addition, certain pest control and pet products included in the former Small Appliances segment have
been reclassified into the Home and Garden Business and Global Pet Supplies segments, respectively.
Management reviews the performance of the Company based on these segments. The presentation of all
historical segment data herein has been changed to conform to this segment reporting structure, which reflects
the manner in which the Company’s management monitors performance and allocates resources. For information
pertaining to our business segments, see Note 11, “Segment Information”.
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