Rayovac 2014 Annual Report Download - page 111

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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
outstanding through September 2015 for 25 troy ounces with a contract value of $445. At September 30, 2013,
the Company had a series of such swap contracts outstanding through May 2014 for 45 troy ounces with a
contract value of $980.
Fair Value of Derivative Instruments
The Company discloses its derivative instruments and hedging activities in accordance with ASC Topic
815: “Derivatives and Hedging” (“ASC 815”).
The fair value of the Company’s outstanding derivative contracts recorded as assets in the accompanying
Consolidated Statements of Financial Position are as follows:
Asset Derivatives
September 30,
2014
September 30,
2013
Derivatives designated as hedging instruments under
ASC 815:
Interest rate contracts ...................... Deferred charges and other $ 631 $ —
Commodity contracts ...................... Receivables—Other 1,276 416
Commodity contracts ...................... Deferred charges and other — 3
Foreign exchange contracts ................. Receivables—Other 11,976 1,719
Foreign exchange contracts ................. Deferred charges and other 345 —
Total asset derivatives designated as hedging
instruments under ASC 815 ................... 14,228 2,138
Derivatives not designated as hedging instruments
under ASC 815:
Foreign exchange contracts ................. Receivables—Other 508 143
Total asset derivatives ......................... $14,736 $2,281
The fair value of the Company’s outstanding derivative contracts recorded as liabilities in the accompanying
Consolidated Statements of Financial Position are as follows:
Liability Derivatives
September 30,
2014
September 30,
2013
Derivatives designated as hedging instruments under
ASC 815:
Interest rate contracts ....................... Other current liabilities $1,335 $ —
Interest rate contracts ....................... Accrued interest 440 —
Commodity contracts ....................... Accounts payable 150 450
Foreign exchange contracts .................. Accounts payable — 4,577
Foreign exchange contracts .................. Other long-term liabilities — 65
Total liability derivatives designated as hedging
instruments under ASC 815 .................... $1,925 $ 5,092
Derivatives not designated as hedging instruments
under ASC 815:
Commodity contract ........................ Accounts payable $ 45 $ 55
Foreign exchange contracts .................. Accounts payable 149 5,323
Total liability derivatives ........................ $2,119 $10,470
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