Rayovac 2014 Annual Report Download - page 66

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Global Batteries and Appliances net sales to external customers are discussed in the “Product line net sales
by segment” discussion above.
Segment profit in Fiscal 2013 decreased to $238 million from $244 million in Fiscal 2012, primarily
attributable to unfavorable product mix and pricing pressures in the U.S, coupled with the decrease in sales
discussed above. Segment profitability as a percentage of net sales decreased slightly to 10.8% in Fiscal 2013
versus 10.9% in Fiscal 2012, driven by unfavorable mix and pricing pressures in the U.S., which offset gains
from the exit of low margin products in the small appliances category.
Segment Adjusted EBITDA in Fiscal 2013 decreased to $304 million from $307 million in Fiscal 2012. The
decrease in segment Adjusted EBITDA was driven by the factors discussed above for the decline in segment profit.
Segment assets at September 30, 2013 increased to $2,361 million from $2,243 million at September 30,
2012. The increase is primarily due to the acquisition of Shaser. Goodwill and intangible assets, which are a
direct result of the revaluation impacts of fresh-start reporting which occurred during the year ended
September 30, 2009 (“Fiscal 2009”) and acquisitions, increased to $1,322 million at September 30, 2013 from
$1,261 million at September 30, 2012, primarily due to the acquisition of Shaser.
Hardware & Home Improvement
Fiscal Year
2013 2012
Net sales to external customers .................................................... $ 870 $—
Segment profit ................................................................. $ 89 $—
Segment profit as a % of net sales .................................................. 10.2% — %
Segment Adjusted EBITDA ....................................................... $ 181 $—
Assets as of September 30 ........................................................ $1,736 $—
Results of the HHI Business, reported as a separate business segment, Hardware & Home Improvement,
relate to operations subsequent to the acquisition date, December 17, 2012. The results of TLM Taiwan are
reflected in the Hardware & Home Improvement segment subsequent to its acquisition on April 8, 2013.
Hardware and Home Improvement net sales to external customers are discussed in the “Product line net
sales by segment” discussion above.
Segment profit in Fiscal 2013 was $89 million. Segment profitability as a percentage of net sales in Fiscal
2013 was 10.2%. Segment profitability was negatively impacted by a $31 million increase to cost of goods sold
due to the sale of inventory which was revalued in connection with the acquisition.
Including pre-acquisition earnings of the HHI Business, segment Adjusted EBITDA was $181 million in
Fiscal 2013.
Segment assets at September 30, 2013 were $1,736 million. Goodwill and intangible assets were $1,192
million at September 30, 2013.
See Note 15, “Acquisitions” of Notes to Consolidated Financial Statements included in this Annual Report
on Form 10-K for additional information regarding the HHI Business acquisition.
Global Pet Supplies
Fiscal Year
2013 2012
Net sales to external customers ..................................................... $622 $615
Segment profit .................................................................. $ 91 $ 86
Segment profit as a % of net sales .................................................. 14.6% 14.0%
Segment Adjusted EBITDA ....................................................... $120 $113
Assets as of September 30 ......................................................... $949 $956
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