Rayovac 2015 Annual Report Download - page 161

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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, 2013 Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations Consolidated
(in millions)
Net sales ............................... $638.7 $1,178.2 $3,123.3 $(854.6) $4,085.6
Cost of goods sold ........................ 463.9 799.9 2,274.5 (853.0) 2,685.3
Restructuring and related charges ............ — 2.4 7.6 — 10.0
Gross profit ............................. 174.8 375.9 841.2 (1.6) 1,390.3
Operating expenses:
Selling ............................. 73.4 143.8 420.7 (0.9) 637.0
General and administrative ............. 74.1 85.1 125.5 — 284.7
Research and development ............. 17.7 10.1 15.5 — 43.3
Acquisition and integration related
charges ........................... 35.2 4.7 8.5 — 48.4
Restructuring and related charges ........ 4.3 11.0 8.7 — 24.0
Total operating expense ............ 204.7 254.7 578.9 (0.9) 1,037.4
Operating income (loss) ................... (29.9) 121.2 262.3 (0.7) 352.9
Interest expense .......................... 346.6 2.9 20.0 — 369.5
Other non-operating (income) expense, net .... (248.6) (180.8) 7.8 425.1 3.5
Income from operations before income taxes . . . (127.9) 299.1 234.5 (425.8) (20.1)
Income tax expense (benefit) ............... (80.4) 47.0 60.9 (0.1) 27.4
Net income (loss) ......................... (47.5) 252.1 173.6 (425.7) (47.5)
Net income (loss) attributable to non-controlling
interest ............................... (0.1) (0.1) (0.1) 0.2 (0.1)
Net income (loss) attributable to controlling
interest ............................... $ (47.4) $ 252.2 $ 173.7 $(425.9) $ (47.4)
Statement of Comprehensive Income
Year ended September 30, 2015 Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations Consolidated
(in millions)
Net income (loss) ......................... $155.8 $ 206.0 $ 166.2 $(372.2) $ 155.8
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss) . . . (112.8) (113.7) (113.7) 227.2 (113.0)
Unrealized gain (loss) on derivative
instruments ....................... (13.2) (7.9) (7.9) 15.8 (13.2)
Defined benefit pension gain (loss) ....... (11.0) (2.2) (2.2) 4.4 (11.0)
Other comprehensive income (loss) ...... (137.0) (123.8) (123.8) 247.4 (137.2)
Comprehensive income (loss) ............... 18.8 82.2 42.4 (124.8) 18.6
Comprehensive income (loss) attributable to
non-controlling interest .................. (0.2) (0.2) (0.2) 0.4 (0.2)
Comprehensive income (loss) attributable to
controlling interest ...................... $ 19.0 $ 82.4 $ 42.6 $(125.2) $ 18.8
147