Rayovac 2015 Annual Report Download - page 106

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SB/RH HOLDINGS, LLC
Consolidated Statements of Cash Flows
Years ended September 30, 2015, 2014 and 2013
(In millions)
2015 2014 2013
Cash flows from operating activities:
Net income (loss) .......................................................... $ 155.8 $ 217.1 $ (47.5)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of intangible assets .............................................. 87.8 81.7 77.8
Depreciation .............................................................. 82.2 75.9 62.1
Share based compensation ................................................... 41.8 44.9 43.1
Non-cash inventory adjustment from acquisitions ................................. 21.7 — 31.0
Non-cash restructuring and related charges ...................................... 19.1 9.2 23.2
Amortization of debt issuance costs ............................................ 12.6 12.8 13.2
Write off of debt issuance costs on retired debt ................................... 11.2 6.4 21.6
Non-cash debt accretion ..................................................... 3.0 3.1 2.5
Write off unamortized discount (premium) on retired debt .......................... 1.7 2.8 (5.2)
Note retirement tender, call premium and related costs ............................. — — 111.3
Deferred tax expense (benefit) ................................................ (4.6) 1.9 (21.6)
Changes in operating assets and liabilities, net of effects of acquisitions:
Receivables ............................................................... 93.4 32.5 (62.3)
Inventories ................................................................ (54.5) 10.6 (2.7)
Prepaid expenses and other ................................................... (3.1) 0.7 (3.7)
Accounts payable and accrued liabilities ........................................ 48.7 (35.9) (0.6)
Other .................................................................... (75.0) (29.0) 16.0
Net cash provided by operating activities ........................................ 441.8 434.7 258.2
Cash flows from investing activities
Purchases of property, plant and equipment ...................................... (89.1) (73.3) (82.0)
Business acquisitions, net of cash acquired ...................................... (1,191.1) (27.6) (1,393.6)
Proceeds from sales of property, plant and equipment .............................. 1.4 9.2 0.2
Other investing activities ..................................................... (0.9) (1.8) (1.3)
Net cash used by investing activities ............................................ (1,279.7) (93.5) (1,476.7)
Cash flows from financing activities
Proceeds from issuance of debt ................................................ 3,320.3 540.1 3,038.2
Payment of debt ............................................................ (2,813.2) (770.9) (1,633.7)
Payment of debt issuance costs ................................................ (38.1) (5.4) (60.9)
Payment of cash dividends to parent ............................................ (72.1) (77.0) (88.7)
Capital contribution from parent ............................................... 528.3 — 28.6
Share based tax withholding payments, net of proceeds upon vesting .................. (2.6) (25.0) (20.1)
Net cash provided (used) by financing activities .................................. 922.6 (338.2) 1,263.4
Effect of exchange rate changes on cash and cash equivalents due to Venezuela
devaluation ............................................................. (2.5) — (1.9)
Effect of exchange rate changes on cash and cash equivalents ........................ (27.2) (8.3) (2.6)
Net increase (decrease) in cash and cash equivalents ............................... 55.0 (5.3) 40.4
Cash and cash equivalents, beginning of period ................................... 192.9 198.2 157.8
Cash and cash equivalents, end of period ........................................ $ 247.9 $ 192.9 $ 198.2
Supplemental disclosure of cash flow information
Cash paid for interest ........................................................ $ 250.3 $ 178.7 $ 336.8
Cash paid for taxes ......................................................... $ 54.4 80.7 49.6
Non cash financing activity
Assumption of AAG debt .................................................... $ 540.0 $ — $ —
See accompanying notes to the consolidated financial statements.
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