Rayovac 2014 Annual Report Download - page 115
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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
The Company’s net derivative portfolio as of September 30, 2014, contains Level 2 instruments and consists
of interest rate, commodity and foreign exchange contracts. The fair values of these instruments as of
September 30, 2014 were as follows:
Level 1 Level 2 Level 3 Total
Assets:
Interest rate contracts ...................................... $— $ 631 $— $ 631
Commodity contracts ...................................... — 1,276 — 1,276
Foreign exchange contracts ................................. — 12,829 — 12,829
Total Assets ................................................. $— $14,736 $— $14,736
Liabilities:
Interest rate contracts ...................................... $— $(1,775) $— $ (1,775)
Commodity contracts ...................................... — (195) $— (195)
Foreign exchange contracts ................................. — (149) — (149)
Total Liabilities ............................................... $— $(2,119) $— $ (2,119)
The Company’s net derivative portfolio as of September 30, 2013, contains Level 2 instruments and consists
of commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2013
were as follows:
Level 1 Level 2 Level 3 Total
Assets:
Commodity contracts ..................................... $— $ 419 $— $ 419
Foreign exchange contracts ................................ — 1,862 — 1,862
Total Assets ................................................. $— $ 2,281 $— $ 2,281
Liabilities:
Commodity contracts ..................................... $— $ (505) $— $ (505)
Foreign exchange contracts ................................ — (9,965) — (9,965)
Total Liabilities .............................................. $— $(10,470) $— $(10,470)
The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and short
term debt approximate fair value based on the short-term nature of these assets and liabilities. The fair values of
long-term publicly traded debt are based on unadjusted quoted market prices (Level 1) and derivative financial
instruments are generally based on quoted or observed market prices (Level 2).
The carrying values of goodwill, intangible assets and other long-lived assets are tested annually or more
frequently if an event occurs that indicates an impairment loss may have been incurred, using fair value
measurements with unobservable inputs (Level 3).
103