Rayovac 2015 Annual Report Download - page 160

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SPECTRUM BRANDS HOLDINGS, INC.
SB/RH HOLDINGS, LLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
Statement of Operations
Year ended September 30, 2014 Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations Consolidated
(in millions)
Net sales ............................... $626.7 $2,141.3 $2,449.4 $(788.3) $4,429.1
Cost of goods sold ........................ 447.7 1,434.4 1,762.7 (788.3) 2,856.5
Restructuring and related charges ............ — 2.6 1.1 — 3.7
Gross profit ............................. 179.0 704.3 685.6 — 1,568.9
Operating expenses:
Selling ............................. 76.6 268.5 333.8 (0.7) 678.2
General and administrative ............. 60.5 168.9 89.6 — 319.0
Research and development ............. 22.3 12.0 13.6 — 47.9
Acquisition and integration related
charges ........................... 11.7 8.3 0.1 — 20.1
Restructuring and related charges ........ 8.4 4.0 6.8 — 19.2
Total operating expense ............ 179.5 461.7 443.9 (0.7) 1,084.4
Operating income (loss) ................... (0.5) 242.6 241.7 0.7 484.5
Interest expense .......................... 172.2 (0.1) 30.0 — 202.1
Other non-operating (income) expense, net .... (213.8) (163.7) 3.9 379.9 6.3
Income from operations before income taxes . . . 41.1 406.4 207.8 (379.2) 276.1
Income tax expense (benefit) ............... (176.0) 194.6 40.1 0.3 59.0
Net income (loss) ......................... 217.1 211.8 167.7 (379.5) 217.1
Net income (loss) attributable to non-controlling
interest ............................... 0.3 0.3 0.3 (0.6) 0.3
Net income (loss) attributable to controlling
interest ............................... $216.8 $ 211.5 $ 167.4 $(378.9) $ 216.8
146