Rayovac 2014 Annual Report Download - page 134

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SPECTRUM BRANDS HOLDINGS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(Amounts in thousands, except per share figures)
retailers, non-retail distributors and homebuilders. Headquartered in Lake Forest, California, the HHI Business
has a global sales force and operates manufacturing and distribution facilities in the U.S., Canada, Mexico and
Asia.
The results of the HHI Business are included in the Company’s Consolidated Statements of Operations as of
and subsequent to December 17, 2012, the date of the acquisition. The results of the TLM Business are included
in the Company’s Consolidated Statements of Operations as of and subsequent to its acquisition on April 8, 2013.
The financial results of the HHI Business are reported as a separate business segment, Hardware & Home
Improvement.
Supplemental Pro Forma Information (Unaudited)
The following reflects the Company’s pro forma results had the results of the HHI Business been included
for all periods presented.
2013 2012
Net sales:
Reported Net sales ...................................................... $4,085,581 $3,252,435
HHI Business adjustment(1) .............................................. 191,777 973,648
Pro forma Net sales ..................................................... $4,277,358 $4,226,083
Net (loss) income:
Reported Net (loss) income(2)(3) .......................................... $ (55,313) $ 48,572
HHI Business adjustment(1) .............................................. 4,942 76,120
Pro forma Net (loss) income .............................................. $ (50,371) $ 124,692
Basic (loss) income per share:
Reported Basic (loss) income per share ..................................... $ (1.06) $ 0.94
HHI Business adjustment(1) .............................................. 0.09 1.47
Pro forma Basic (loss) income per share ..................................... $ (0.97) $ 2.41
Diluted (loss) income per share(4):
Reported Diluted (loss) income per share .................................... $ (1.06) $ 0.91
HHI Business adjustment(1) .............................................. 0.09 1.43
Pro forma Diluted (loss) income per share ................................... $ (0.97) $ 2.34
(1) The results related to the HHI Business adjustment do not reflect the TLM Taiwan business as stand alone
financial data is not available for the periods presented. The TLM Taiwan business is not deemed material
to the operating results of the Company.
(2) Included in Reported Net (loss) income for Fiscal 2013, is an adjustment of $49,848 to record the income
tax benefit resulting from the reversal of U.S. valuation allowances on deferred tax assets as a result of the
HHI Business acquisition. For information pertaining to the income tax benefit, see Note 9, “Income
Taxes.”
(3) Included in Reported Net (loss) income for Fiscal 2013 is $36,932, of Acquisition and integration related
charges as a result of the HHI Business acquisition. For information pertaining to Acquisition and
integration related charges, see Note 2, “Significant Accounting Policies—Acquisition and Integration
Related Charges.”
(4) For Fiscal 2013, the Company has not assumed the exercise of common stock equivalents as the impact
would be antidilutive due to the loss reported.
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