Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Nov. 19, 2014 | Mar. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Entity Registrant Name | 'Spectrum Brands Holdings, Inc. | ' | ' |
Entity Central Index Key | '0001487730 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $1,625,023,395 |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 52,671,108 | ' |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Position (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Current assets: | ' | ' |
Cash and cash equivalents | $194,633,000 | $207,257,000 |
Receivables: | ' | ' |
Trade accounts receivable, net of allowances $48,641 and $37,376, respectively | 439,038,000 | 481,313,000 |
Other | 76,236,000 | 65,620,000 |
Inventories | 624,535,000 | 632,923,000 |
Deferred income taxes | 36,708,000 | 32,959,000 |
Prepaid expenses and other | 63,476,000 | 62,833,000 |
Total current assets | 1,434,626,000 | 1,482,905,000 |
Property, plant and equipment, net | 428,877,000 | 412,551,000 |
Deferred charges and other | 37,279,000 | 26,050,000 |
Goodwill | 1,469,561,000 | 1,476,672,000 |
Intangible assets, net | 2,091,539,000 | 2,163,166,000 |
Debt issuance costs | 51,147,000 | 65,329,000 |
Total assets | 5,513,029,000 | 5,626,673,000 |
Current liabilities: | ' | ' |
Current maturities of long-term debt | 96,736,000 | 102,921,000 |
Accounts payable | 519,733,000 | 525,519,000 |
Accrued liabilities: | ' | ' |
Wages and benefits | 88,064,000 | 82,056,000 |
Income taxes payable | 18,544,000 | 32,613,000 |
Accrued interest | 35,429,000 | 36,731,000 |
Other | 157,198,000 | 172,530,000 |
Total current liabilities | 915,704,000 | 952,370,000 |
Long-term debt, net of current maturities | 2,894,137,000 | 3,115,942,000 |
Employee benefit obligations, net of current portion | 81,964,000 | 96,612,000 |
Deferred income taxes | 513,204,000 | 492,774,000 |
Other | 21,190,000 | 28,879,000 |
Total liabilities | 4,426,199,000 | 4,686,577,000 |
Shareholders’ equity: | ' | ' |
Common stock, $.01 par value, authorized 200,000 shares; issued 54,154 and 53,579 shares, respectively; outstanding 52,713 and 52,210 shares | 542,000 | 535,000 |
Additional paid-in capital | 1,433,413,000 | 1,410,738,000 |
Accumulated deficit | -283,141,000 | -435,911,000 |
Accumulated other comprehensive loss | -63,074,000 | -38,521,000 |
Shareholders' equity before treasury stock | 1,087,740,000 | 936,841,000 |
Less treasury stock, at cost, 1,441 and 1,369 shares, respectively | -44,338,000 | -39,820,000 |
Total shareholders' equity | 1,043,402,000 | 897,021,000 |
Noncontrolling interest | 43,428,000 | 43,075,000 |
Total equity | 1,086,830,000 | 940,096,000 |
Total liabilities and equity | $5,513,029,000 | $5,626,673,000 |
Consolidated_Statements_Of_Fin1
Consolidated Statements Of Financial Position (Parenthetical) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Statements Of Financial Position [Abstract] | ' | ' |
Trade accounts receivable, allowances | $48,641 | $37,376 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 54,154,000 | 53,579,000 |
Common stock, shares outstanding | 52,713,000 | 52,210,000 |
Treasury stock, shares | 1,441,000 | 1,369,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Net sales | $4,429,109 | $4,085,581 | $3,252,435 | ||
Cost of goods sold | 2,856,527 | 2,685,285 | 2,126,922 | ||
Restructuring and related charges | 22,895 | 34,012 | 19,591 | ||
Gross profit | 1,568,869 | 1,390,312 | 1,115,678 | ||
Selling | 678,152 | 636,958 | 521,191 | ||
General and administrative | 321,645 | 286,370 | 218,832 | ||
Research and development | 47,855 | 43,334 | 33,087 | ||
Acquisition and integration related charges | 20,102 | 48,445 | 31,066 | ||
Total operating expenses | 1,086,936 | 1,039,135 | 813,932 | ||
Operating income | 481,933 | 351,177 | 301,746 | ||
Interest expense | 202,118 | 375,625 | 191,911 | ||
Other expense, net | 6,286 | 3,506 | 878 | ||
Income (loss) from continuing operations before income taxes | 273,529 | -27,954 | 108,957 | ||
Income tax expense | 59,023 | 27,359 | 60,385 | ||
Net income (loss) | 214,506 | -55,313 | [1],[2] | 48,572 | [1],[2] |
Less: Net income (loss) attributable to non-controlling interest | 414 | -67 | ' | ||
Net income (loss) attributable to controlling interest | 214,092 | -55,246 | 48,572 | ||
Basic earnings (loss) per share: | ' | ' | ' | ||
Weighted average shares of common stock outstanding | 52,634 | 52,034 | 51,608 | ||
Net income (loss) per share attributable to controlling interest | $4.07 | ($1.06) | $0.94 | ||
Diluted earnings (loss) per share: | ' | ' | ' | ||
Weighted average shares and equivalents outstanding | 53,261 | 52,034 | 53,309 | ||
Net income (loss) per share attributable to controlling interest | $4.02 | ($1.06) | [3] | $0.91 | [3] |
Cash dividends declared per common share | $1.15 | $0.75 | $1 | ||
Cost of Goods Sold [Member] | ' | ' | ' | ||
Restructuring and related charges | 3,713 | 9,984 | 9,835 | ||
Operating Expenses [Member] | ' | ' | ' | ||
Restructuring and related charges | $19,182 | $24,028 | $9,756 | ||
[1] | 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, bIncome Taxes.b | ||||
[2] | 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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b | ||||
[3] | 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. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ||
Net income (loss) | $214,506 | ($55,313) | [1],[2] | $48,572 | [1],[2] |
Other comprehensive (loss), net of tax: | ' | ' | ' | ||
Foreign currency translation loss | -32,528 | -6,622 | -8,602 | ||
Unrealized gain (loss) on derivative hedging instruments | 11,531 | -2,509 | 1,545 | ||
Defined benefit pension gain (loss) | -3,617 | 4,248 | -11,932 | ||
Other comprehensive loss, net of tax | -24,614 | -4,883 | -18,989 | ||
Comprehensive income (loss) | 189,892 | -60,196 | 29,583 | ||
Less: Comprehensive income attributable to non-controlling interest | 436 | 136 | ' | ||
Comprehensive income (loss) attributable to controlling interest | $189,456 | ($60,332) | $29,583 | ||
[1] | 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, bIncome Taxes.b | ||||
[2] | 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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b |
Consolidated_Statements_Of_Sha
Consolidated Statements Of Shareholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss), Net Of Tax [Member] | Treasury Stock [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total | |
In Thousands | |||||||||
Balance at Sep. 30, 2011 | $525 | $1,374,097 | ($336,063) | ($14,446) | ($5,616) | $1,018,497 | ' | $1,018,497 | |
Common Stock, Shares, Outstanding, Beginning Balance at Sep. 30, 2011 | 52,226 | ' | ' | ' | ' | ' | ' | ' | |
Net income (loss) | ' | ' | 48,572 | ' | ' | 48,572 | ' | 48,572 | [1],[2] |
Other comprehensive (loss) income | ' | ' | ' | -18,989 | ' | -18,989 | ' | -18,989 | |
Vesting of restricted stock units | 3 | -3 | ' | ' | ' | ' | ' | ' | |
Vesting of restricted stock units, shares | 368 | ' | ' | ' | ' | ' | ' | ' | |
Treasury stock purchases | ' | ' | ' | ' | -30,996 | -30,996 | ' | -30,996 | |
Treasury stock purchases, shares | -1,111 | ' | ' | ' | ' | ' | ' | ' | |
Amortization of unearned compensation | ' | 29,164 | ' | ' | ' | 29,164 | ' | 29,164 | |
Restricted stock units surrendered | ' | -3,997 | ' | ' | ' | -3,997 | ' | -3,997 | |
Dividends declared | ' | ' | -53,156 | ' | ' | -53,156 | ' | -53,156 | |
Balance at Sep. 30, 2012 | 528 | 1,399,261 | -340,647 | -33,435 | -36,612 | 989,095 | ' | 989,095 | |
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2012 | 51,483 | ' | ' | ' | ' | ' | ' | ' | |
Net income (loss) | ' | ' | -55,246 | ' | ' | -55,246 | -67 | -55,313 | [1],[2] |
Other comprehensive (loss) income | ' | ' | ' | -5,086 | ' | -5,086 | 203 | -4,883 | |
Vesting of restricted stock units | 7 | -7 | ' | ' | ' | ' | ' | ' | |
Vesting of restricted stock units, shares | 780 | ' | ' | ' | ' | ' | ' | ' | |
Treasury stock purchases | ' | ' | ' | ' | -3,208 | -3,208 | ' | -3,208 | |
Treasury stock purchases, shares | -53 | ' | ' | ' | ' | ' | ' | ' | |
Amortization of unearned compensation | ' | 31,534 | ' | ' | ' | 31,534 | ' | 31,534 | |
Restricted stock units surrendered | ' | -20,050 | ' | ' | ' | -20,050 | ' | -20,050 | |
Dividends declared | ' | ' | -40,018 | ' | ' | -40,018 | ' | -40,018 | |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | 42,939 | 42,939 | |
Balance at Sep. 30, 2013 | 535 | 1,410,738 | -435,911 | -38,521 | -39,820 | 897,021 | 43,075 | 940,096 | |
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2013 | 52,210 | ' | ' | ' | ' | ' | ' | 52,210 | |
Net income (loss) | ' | ' | 214,092 | ' | ' | 214,092 | 414 | 214,506 | |
Other comprehensive (loss) income | ' | ' | ' | -24,553 | ' | -24,553 | -61 | -24,614 | |
Vesting of restricted stock units | 7 | -7 | ' | ' | ' | ' | ' | ' | |
Vesting of restricted stock units, shares | 575 | ' | ' | ' | ' | ' | ' | ' | |
Treasury stock purchases | ' | ' | ' | ' | -4,518 | -4,518 | ' | -4,518 | |
Treasury stock purchases, shares | -72 | ' | ' | ' | ' | ' | ' | ' | |
Amortization of unearned compensation | ' | 47,675 | ' | ' | ' | 47,675 | ' | 47,675 | |
Restricted stock units surrendered | ' | -24,993 | ' | ' | ' | -24,993 | ' | -24,993 | |
Dividends declared | ' | ' | -61,322 | ' | ' | -61,322 | ' | -61,322 | |
Balance at Sep. 30, 2014 | $542 | $1,433,413 | ($283,141) | ($63,074) | ($44,338) | $1,043,402 | $43,428 | $1,086,830 | |
Common Stock, Shares, Outstanding, Ending Balance at Sep. 30, 2014 | 52,713 | ' | ' | ' | ' | ' | ' | 52,713 | |
[1] | 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, bIncome Taxes.b | ||||||||
[2] | 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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Cash flows from operating activities: | ' | ' | ' | ||
Net income (loss) | $214,506 | ($55,313) | [1],[2] | $48,572 | [1],[2] |
Adjustments to reconcile net income (loss) to net cash used by operating activities, net of effects of acquisitions: | ' | ' | ' | ||
Depreciation | 75,902 | 62,114 | 40,950 | ||
Amortization of intangibles | 81,728 | 77,779 | 63,666 | ||
Amortization of unearned restricted stock compensation | 46,809 | 43,861 | 29,164 | ||
Amortization of debt issuance costs | 12,796 | 13,241 | 9,922 | ||
Non-cash increase to cost of goods sold due to HHI acquisition inventory step up | ' | 31,000 | ' | ||
Write off unamortized discount / (premium) on retired debt | 2,821 | -5,178 | -466 | ||
Write off of debt issuance costs | 6,395 | 21,574 | 2,946 | ||
Non-cash restructuring and related charges | 9,187 | 23,245 | 5,195 | ||
Non-cash debt accretion | 3,123 | 2,482 | 722 | ||
Note retirement tender, call premium and related costs | ' | 111,307 | 25,400 | ||
Changes in assets and liabilities, net of effects of acquisitions: | ' | ' | ' | ||
Accounts receivable | 32,522 | -62,316 | 22,892 | ||
Inventories | 10,575 | -2,707 | -11,642 | ||
Prepaid expenses and other current assets | -644 | -4,269 | 561 | ||
Accounts payable and accrued liabilities | -36,510 | -818 | 5,360 | ||
Deferred taxes | 1,929 | -21,655 | 22,633 | ||
Other changes in assets and liabilities | -28,449 | 22,162 | -7,124 | ||
Net cash provided by operating activities | 432,690 | 256,509 | 258,751 | ||
Cash flows from investing activities: | ' | ' | ' | ||
Purchases of property, plant and equipment | -73,347 | -81,976 | -46,809 | ||
Proceeds from sales of property, plant and equipment | 9,203 | 203 | 500 | ||
Other investing activities | -1,788 | -1,381 | -2,045 | ||
Net cash used by investing activities | -93,561 | -1,482,928 | -231,494 | ||
Cash flows from financing activities: | ' | ' | ' | ||
Proceeds from issuance of Term Loan, net of discount | 523,658 | 1,936,250 | ' | ||
Payment of senior credit facilities, excluding ABL revolving credit facility | -764,874 | -571,093 | -155,061 | ||
Debt issuance costs | -5,411 | -60,850 | -11,231 | ||
Other debt financing, net | 557 | 11,941 | 392 | ||
Reduction of other debt | -6,030 | -1,251 | -4,112 | ||
Cash dividends paid | -61,904 | -40,108 | -51,450 | ||
Treasury stock purchases | -4,518 | -3,208 | -30,996 | ||
Share based payment tax withholding payments | -24,972 | -20,141 | -3,936 | ||
Other financing activities | ' | ' | -953 | ||
Net cash provided (used) by financing activities | -343,494 | 1,280,233 | -10,778 | ||
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | ' | -1,871 | ' | ||
Effect of exchange rate changes on cash and cash equivalents | -8,259 | -2,647 | -932 | ||
Net increase (decrease) in cash and cash equivalents | -12,624 | 49,296 | 15,547 | ||
Cash and cash equivalents, beginning of period | 207,257 | 157,961 | 142,414 | ||
Cash and cash equivalents, end of period | 194,633 | 207,257 | 157,961 | ||
Supplemental disclsoure of cash flow information: | ' | ' | ' | ||
Cash paid for interest | 178,652 | 336,798 | 185,634 | ||
Cash paid for taxes | 80,702 | 49,638 | 39,173 | ||
Liquid Fence [Member] | ' | ' | ' | ||
Cash flows from investing activities: | ' | ' | ' | ||
Acquisition, net of cash acquired | -27,629 | ' | ' | ||
Shaser, Inc. [Member] | ' | ' | ' | ||
Cash flows from investing activities: | ' | ' | ' | ||
Acquisition, net of cash acquired | ' | -48,766 | ' | ||
HHI Business [Member] | ' | ' | ' | ||
Cash flows from investing activities: | ' | ' | ' | ||
Acquisition, net of cash acquired | ' | -1,351,008 | ' | ||
Black Flag [Member] | ' | ' | ' | ||
Cash flows from investing activities: | ' | ' | ' | ||
Acquisition, net of cash acquired | ' | ' | -43,750 | ||
FURminator [Member] | ' | ' | ' | ||
Cash flows from investing activities: | ' | ' | ' | ||
Acquisition, net of cash acquired | ' | ' | -139,390 | ||
Notes 6.375% due 2020 [Member] | ' | ' | ' | ||
Cash flows from financing activities: | ' | ' | ' | ||
Proceeds from issuance of unsecured debt | ' | 520,000 | ' | ||
Notes 6.625% due 2022 [Member] | ' | ' | ' | ||
Cash flows from financing activities: | ' | ' | ' | ||
Proceeds from issuance of unsecured debt | ' | 570,000 | ' | ||
9.5% Notes [Member] | ' | ' | ' | ||
Cash flows from financing activities: | ' | ' | ' | ||
Repayments of secured debt | ' | -1,061,307 | ' | ||
Proceeds from issuance of 9.5% Notes, including premium | ' | ' | 217,000 | ||
6.75% Notes [Member] | ' | ' | ' | ||
Cash flows from financing activities: | ' | ' | ' | ||
Proceeds from issuance of unsecured debt | ' | ' | 300,000 | ||
12% Notes [Member] | ' | ' | ' | ||
Cash flows from financing activities: | ' | ' | ' | ||
Payment of 12% notes, including tender and call premium | ' | ' | ($270,431) | ||
[1] | 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, bIncome Taxes.b | ||||
[2] | 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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flows (Parenthetical) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest rate | 6.63% | ' | ' |
Notes 6.375% due 2020 [Member] | ' | ' | ' |
Interest rate | 6.38% | 6.38% | 6.38% |
Notes 6.625% due 2022 [Member] | ' | ' | ' |
Interest rate | 6.63% | ' | ' |
9.5% Notes [Member] | ' | ' | ' |
Interest rate | 9.50% | 9.50% | 9.50% |
6.75% Notes [Member] | ' | ' | ' |
Interest rate | 6.75% | 6.75% | 6.75% |
12% Notes [Member] | ' | ' | ' |
Interest rate | 12.00% | 12.00% | 12.00% |
Description_Of_Business
Description Of Business | 12 Months Ended |
Sep. 30, 2014 | |
Description Of Business [Abstract] | ' |
Description Of Business | ' |
(1) DESCRIPTION OF BUSINESS | |
Spectrum Brands Holdings, Inc., a Delaware corporation (“SB Holdings” or the “Company”), is a diversified global branded consumer products company. SB Holdings' common stock trades on the New York Stock Exchange (the “NYSE”) under the symbol “SPB.” | |
The Company’s operations include the worldwide manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company’s operations also include the manufacturing and marketing of specialty pet supplies. The Company also manufactures and markets herbicides, insecticides and insect repellents in North America. The Company also designs, markets and distributes a broad range of branded small appliances and personal care products. The Company also designs, markets, distributes and sells certain hardware, home improvement and plumbing products. The Company’s operations utilize manufacturing and product development facilities located in the United States (“U.S.”), Europe, Latin America and Asia. | |
The Company sells its products in approximately 160 countries through a variety of trade channels, including retailers, wholesalers and distributors, hearing aid professionals, industrial distributors and original equipment manufacturers and enjoys name recognition in its markets under the Rayovac, VARTA and Remington brands, each of which has been in existence for more than 80 years, and under the Tetra, 8-in-1, Dingo, Nature's Miracle, Spectracide, Cutter, Hot Shot, Black & Decker, George Foreman, Russell Hobbs, Farberware, Black Flag, FURminator, Kwikset, Weiser, Baldwin, National Hardware, Stanley and Pfister brands. | |
The Company's global branded consumer products have positions in seven major product categories: consumer batteries; small appliances; pet supplies; electric shaving and grooming; electric personal care; home and garden; and hardware and home improvement. | |
The Company manages the businesses in four vertically integrated, product-focused reporting segments: (i) Global Batteries & Appliances, which consists of the Company's worldwide battery, electric shaving and grooming, electric personal care and small appliances primarily in the kitchen and home product categories (“Global Batteries & Appliances”); (ii) Global Pet Supplies, which consists of the Company's worldwide pet supplies business (“Global Pet Supplies”); (iii) Home and Garden, which consists of the Company's home and garden and insect control business (“Home and Garden”); and (iv) Hardware & Home Improvement, which consists of the Company's worldwide hardware, home improvement and plumbing business (“Hardware & Home Improvement”). Management reviews the performance of the Company based on these segments, which also reflect the manner in which the Company's management monitors performance and allocates resources. For information pertaining to our business segments, see Note 11, “Segment Information.” | |
Significant_Accounting_Policie
Significant Accounting Policies And Practices | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Significant Accounting Policies And Practices [Abstract] | ' | |||||||||
Significant Accounting Policies And Practices | ' | |||||||||
(2) Significant Accounting Policies and Practices | ||||||||||
(a) Principles of Consolidation and Fiscal Year End | ||||||||||
The consolidated financial statements include the financial statements of SB Holdings and its majority owned subsidiaries and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). All intercompany transactions have been eliminated. The Company’s fiscal year ends September 30. References herein to Fiscal 2014, Fiscal 2013 and Fiscal 2012 refer to the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||||||||||
(b) Revenue Recognition | ||||||||||
The Company recognizes revenue from product sales generally upon delivery to the customer, or at the shipping point in situations where the customer picks up the product or where delivery terms so stipulate. This represents the point at which title and all risks and rewards of ownership of the product are passed, provided that: there are no uncertainties regarding customer acceptance, there is persuasive evidence that an arrangement exists, the price to the buyer is fixed or determinable and ability to collect is deemed reasonably assured. The Company is generally not obligated to allow for, and its general policy is not to accept, product returns for battery sales. The Company does accept returns in specific instances related to its shaving, grooming, personal care, home and garden, small appliances, hardware and home improvement and pet products. The provision for customer returns is based on historical sales and returns and other relevant information. The Company estimates and accrues the cost of returns, which are treated as a reduction of Net sales. | ||||||||||
The Company enters into various promotional arrangements, primarily with retail customers, including arrangements entitling such retailers to cash rebates from the Company based on the level of their purchases, which require the Company to estimate and accrue the estimated costs of the promotional programs. These costs are treated as a reduction of Net sales. | ||||||||||
The Company also enters into promotional arrangements that target the ultimate consumer. The costs associated with such arrangements are treated as either a reduction in Net sales or an increase in Cost of goods sold, based on the type of promotional program. The income statement presentation of the Company’s promotional arrangements complies with Accounting Standards Codification (“ASC”) Topic 605: “Revenue Recognition.” For all types of promotional arrangements and programs, the Company monitors its commitments and uses various measures, including past experience, to determine amounts to be recorded for the estimate of the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and are documented through written contracts, correspondence or other communications with the individual customers. | ||||||||||
The Company also enters into various arrangements, primarily with retail customers, which require the Company to make upfront cash, or “slotting” payments, in order to secure the right to distribute through such customers. The Company capitalizes slotting payments provided the payments are supported by a time or volume based arrangement with the retailer, and amortizes the associated payment over the appropriate time or volume-based term of the arrangement. The amortization of slotting payments is treated as a reduction in Net sales and a corresponding asset is reported in Deferred charges and other in the accompanying Consolidated Statements of Financial Position. | ||||||||||
(c) Use of Estimates | ||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||
(d) Cash Equivalents | ||||||||||
For purposes of the accompanying Consolidated Statements of Financial Position and Consolidated Statements of Cash Flows, the Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. | ||||||||||
(e) Concentrations of Credit Risk and Major Customers | ||||||||||
Trade receivables subject the Company to credit risk. Trade accounts receivable are carried at net realizable value. The Company extends credit to its customers based upon an evaluation of the customer’s financial condition and credit history, but generally does not require collateral. The Company monitors its customers’ credit and financial condition based on changing economic conditions and will make adjustments to credit policies as required. Provisions for losses on uncollectible trade receivables are determined based on ongoing evaluations of the Company’s receivables, principally on the basis of historical collection experience and evaluations of the risks of nonpayment for a given customer. | ||||||||||
The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This major customer represented approximately 16%, 18% and 23% of the Company’s Net sales during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. This major customer also represented approximately 14% and 11% of the Company’s Trade accounts receivable, net as of September 30, 2014 and September 30, 2013, respectively. | ||||||||||
Approximately 40%, 41% and 46% of the Company’s Net sales during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively, occurred outside of the United States. These sales and related receivables are subject to varying degrees of credit, currency and political and economic risk. The Company monitors these risks and makes appropriate provisions for ability to collect based on an assessment of the risks present. | ||||||||||
(f) Displays and Fixtures | ||||||||||
Temporary displays are generally disposable cardboard displays shipped to customers to facilitate display of the Company’s products. Temporary displays are generally disposed of after a single use by the customer. | ||||||||||
Permanent fixtures are more lasting in nature, are generally made from wire or other longer-lived materials, and are shipped to customers for use in displaying the Company’s products. These permanent fixtures are restocked with the Company’s product multiple times over the fixture’s useful life. | ||||||||||
The costs of both temporary and permanent displays are capitalized as a prepaid asset until shipped to the customer and are included in Prepaid expenses and other in the accompanying Consolidated Statements of Financial Position. The costs of temporary displays are expensed in the period in which they are shipped to customers and the costs of permanent fixtures are amortized over an estimated useful life of one to two years from the date they are shipped to customers. The unamortized cost of permanent fixtures is reflected in Deferred charges and other in the accompanying Consolidated Statements of Financial Position. | ||||||||||
(g) Inventories | ||||||||||
The Company’s inventories are valued at the lower of cost or net realizable value. Cost of inventories is determined using the first-in, first-out (FIFO) method. | ||||||||||
(h) Property, Plant and Equipment | ||||||||||
Property, plant and equipment are recorded at cost or at fair value if acquired in a purchase business combination. Depreciation on plant and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Depreciable lives by major classification are as follows: | ||||||||||
Building and improvements | 20 | - | 40 | years | ||||||
Machinery, equipment and other | 2 | - | 15 | years | ||||||
Plant and equipment held under capital leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset; such amortization is included in depreciation expense. | ||||||||||
The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates recoverability of assets to be held and used by comparing the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. | ||||||||||
(i) Intangible Assets | ||||||||||
Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives of up to 20 years. The excess of the fair value of the consideration transferred in a business combination over the fair value of net assets acquired (goodwill) and indefinite-lived intangible assets (certain trade name intangibles) are not amortized. Goodwill is tested for impairment at least annually at the reporting unit level, with such groupings being consistent with the Company’s reportable segments. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. Indefinite-lived trade name intangibles are tested for impairment at least annually by comparing the fair value, determined using a relief from royalty methodology, with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. | ||||||||||
ASC Topic 350: “Intangibles-Goodwill and Other,” (“ASC 350”) requires that goodwill and indefinite-lived intangible assets be tested for impairment annually, or more often if an event or circumstance indicates that an impairment loss may have been incurred. The Company’s management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as unexpected adverse business conditions, economic factors, unanticipated technological change or competitive activities, loss of key personnel and acts by governments and courts may signal that an asset has become impaired. | ||||||||||
During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company’s goodwill and trade name intangibles were tested for impairment as of the Company’s August financial period end, the Company’s annual testing date. | ||||||||||
Intangibles with Indefinite Lives | ||||||||||
In accordance with ASC 350, the Company conducts impairment testing on the Company’s goodwill. To determine fair value during Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company used the discounted estimated future cash flows methodology. Assumptions critical to the Company’s fair value estimates under the discounted estimated future cash flows methodology are: (i) the present value factors used in determining the fair value of the reporting units and trade names, (ii) projected average revenue growth rates used in estimating future cash flows for the reporting unit, and (iii) projected long-term growth rates used in the derivation of terminal year values. These and other assumptions are impacted by economic conditions and expectations of management and will change in the future based on period specific facts and circumstances. The Company also tested the aggregate estimated fair value of its reporting units for reasonableness by comparison to the total market capitalization of the Company, which includes both its equity and debt securities. | ||||||||||
In addition, in accordance with ASC 350, as part of the Company’s annual impairment testing, the Company tested its indefinite-lived trade name intangible assets for impairment by comparing the carrying amount of such trade names to their respective fair values. Fair value was determined using a relief from royalty methodology. Assumptions critical to the Company’s fair value estimates under the relief from royalty methodology are: (i) royalty rates, (ii) projected average revenue growth rates, and (iii) applicable discount rates. | ||||||||||
In connection with the Company’s annual goodwill impairment testing performed during Fiscal 2014, Fiscal 2013 and Fiscal 2012, the first step of such testing indicated that the fair value of the Company’s reporting segments were in excess of their carrying amounts and, accordingly, no further testing of goodwill was required. | ||||||||||
During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company concluded that the fair value of its intangible assets exceeded their carrying value. | ||||||||||
Intangibles with Definite or Estimable Useful Lives | ||||||||||
The Company assesses the recoverability of intangible assets with definite or estimable useful lives whenever an event or circumstance occurs that indicates an impairment loss may have been incurred. The Company assesses the recoverability of these intangible assets by determining whether their carrying value can be recovered through projected undiscounted future cash flows. If projected undiscounted future cash flows indicate that the carrying value of the assets will not be recovered, an adjustment would be made to reduce the carrying value to an amount equal to estimated fair value determined based on projected future cash flows discounted at the Company’s incremental borrowing rate. The cash flow projections used in estimating fair value are based on historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. | ||||||||||
Impairment reviews are conducted at the judgment of management when it believes that a change in circumstances in the business or external factors warrants a review. Circumstances such as the discontinuation of a product or product line, a sudden or consistent decline in the sales forecast for a product, changes in technology or in the way an asset is being used, a history of operating or cash flow losses or an adverse change in legal factors or in the business climate, among others, may trigger an impairment review. | ||||||||||
The fair values of our Global Batteries & Appliances, Hardware & Home Improvement, Global Pet Supplies and the Home and Garden Business exceeded their carrying values by 87%, 47%, 80% and 146%, respectively, as of the date of the Company’s latest annual impairment testing. | ||||||||||
(j) Debt Issuance Costs | ||||||||||
Debt issuance costs are capitalized and amortized to interest expense using the effective interest method over the lives of the related debt agreements. | ||||||||||
(k) Accounts Payable | ||||||||||
Included in accounts payable are book overdrafts, net of deposits on hand, on disbursement accounts that are replenished when checks are presented for payment. | ||||||||||
(l) Income Taxes | ||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in income tax expense in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in Income tax expense. | ||||||||||
(m) Foreign Currency Translation | ||||||||||
Local currencies are considered the functional currencies for most of the Company’s operations outside the United States. Assets and liabilities of the Company’s foreign subsidiaries are translated at the rate of exchange existing at year-end, with revenues, expenses and cash flows translated at the average of the monthly exchange rates. Adjustments resulting from translation of the financial statements are recorded as a component of Accumulated other comprehensive income (loss) (“AOCI”). Also included in AOCI are the effects of exchange rate changes on intercompany balances of a long-term nature. | ||||||||||
As of September 30, 2014 and September 30, 2013, accumulated (losses) gains related to foreign currency translation adjustments of $(39,517) and $(7,050), respectively, were reflected in the accompanying Consolidated Statements of Financial Position in AOCI. | ||||||||||
Foreign currency transaction gains and losses related to assets and liabilities that are denominated in a currency other than the functional currency are reported in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions aggregating $6,775, $9,388 and $1,654 for Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively, are included in Other expense, net, in the accompanying Consolidated Statements of Operations. | ||||||||||
(n) Shipping and Handling Costs | ||||||||||
The Company incurred shipping and handling costs of $260,321, $246,090 and $198,152 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. Shipping and handling costs, which are included in Selling expenses in the accompanying Consolidated Statements of Operations, include costs incurred with third-party carriers to transport products to customers and salaries and overhead costs related to activities to prepare the Company’s products for shipment at the Company’s distribution facilities. | ||||||||||
(o) Advertising Costs | ||||||||||
The Company incurred advertising costs of $21,356, $22,971 and $20,706 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. Such advertising costs are included in Selling expenses in the accompanying Consolidated Statements of Operations and include agency fees and other costs to create advertisements, as well as costs paid to third parties to print or broadcast the Company’s advertisements. | ||||||||||
(p) Research and Development Costs | ||||||||||
Research and development costs are charged to expense in the period they are incurred. | ||||||||||
(q) Net Income (Loss) Per Common Share | ||||||||||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period. Basic net income (loss) per common share does not consider the effect of dilutive common stock equivalents. As long as their effect is not antidilutive, diluted net income (loss) per common share reflects the dilution that would occur if employee stock units and restricted stock awards were exercised or converted into common shares or resulted in the issuance of common shares that then shared in the net income (loss) of the entity. The computation of diluted net income (loss) per common share uses the “treasury stock” method to reflect dilution. The difference between the number of shares used in the calculations of basic and diluted net income (loss) per share is due to the effects of restricted stock and assumed conversion of employee stock unit awards. | ||||||||||
Net income (loss) per common share is calculated based upon the following shares: | ||||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Basic | 52,634 | 52,034 | 51,608 | |||||||
Effect of common stock equivalents | 627 | — | 1,701 | |||||||
Diluted | 53,261 | 52,034 | 53,309 | |||||||
During Fiscal 2013, the Company has not assumed the exercise of common stock equivalents as the impact would be antidilutive due to the net loss reported. | ||||||||||
(r) Environmental Expenditures | ||||||||||
Environmental expenditures that relate to current ongoing operations or to conditions caused by past operations are expensed or capitalized as appropriate. The Company determines its liability for environmental matters on a site-by-site basis and records a liability at the time when it is probable that a liability has been incurred and such liability can be reasonably estimated. The estimated liability is not reduced for possible recoveries from insurance carriers. Estimated environmental remediation expenditures are included in the determination of the net realizable value recorded for assets held for sale. | ||||||||||
(s) Comprehensive Income (Loss) | ||||||||||
Comprehensive income (loss) includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges and amortization of deferred gains and losses associated with the Company’s pension plans. The foreign currency translation gains and losses for Fiscal 2014, Fiscal 2013 and Fiscal 2012 were primarily attributable to the impact of translation of the net assets of the Company’s European and Latin American operations, which primarily have functional currencies in Euros, Pounds Sterling, Mexican Pesos and Brazilian Reals. | ||||||||||
For information pertaining to the reclassification of unrealized gains and losses on derivative instruments, see Note 7, “Derivative Financial Instruments.” | ||||||||||
The following is a roll forward of the amounts recorded in AOCI: | ||||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Foreign Currency Translation Adjustments: | ||||||||||
Beginning balance | $ | -7,050 | $ | -225 | $ | 8,377 | ||||
Gross change before reclassification adjustment | -32,528 | -6,622 | -8,602 | |||||||
Gross change after reclassification adjustment | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Deferred tax effect | — | — | — | |||||||
Deferred tax valuation allowance | — | — | — | |||||||
Other Comprehensive Income (Loss) | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Noncontrolling interest | -61 | 203 | — | |||||||
Comprehensive income (loss) attributable to controlling interest | $ | -39,517 | $ | -7,050 | $ | -225 | ||||
Derivative Hedging Instruments: | ||||||||||
Beginning balance | $ | -2,291 | $ | 218 | $ | -1,327 | ||||
Gross change before reclassification adjustment | 13,154 | -2,013 | -1,824 | |||||||
Net reclassification adjustment for (gains) losses included in earnings | 2,557 | -920 | 3,097 | |||||||
Gross change after reclassification adjustment | $ | 15,711 | $ | -2,933 | $ | 1,273 | ||||
Deferred tax effect | -4,225 | -234 | -636 | |||||||
Deferred tax valuation allowance | 45 | 658 | 908 | |||||||
Other Comprehensive Income (Loss) | $ | 11,531 | $ | -2,509 | $ | 1,545 | ||||
Ending balance | 9,240 | $ | -2,291 | $ | 218 | |||||
Defined Benefit Pension Plans: | ||||||||||
Beginning balance | $ | -29,180 | $ | -33,428 | $ | -21,496 | ||||
Gross change before reclassification adjustment | -6,600 | 8,097 | -15,682 | |||||||
Net reclassification adjustment for losses included in Cost of goods sold | 582 | 1,571 | 900 | |||||||
Net reclassification adjustment for (gains) losses included in Selling expenses | 295 | -584 | — | |||||||
Net reclassification adjustment for losses included in General and administrative expenses | 491 | 373 | — | |||||||
Gross change after reclassification adjustment | $ | -5,232 | $ | 9,457 | $ | -14,782 | ||||
Deferred tax effect | 2,954 | -5,123 | 3,632 | |||||||
Deferred tax valuation allowance | -1,339 | -86 | -782 | |||||||
Other Comprehensive Income (Loss) | $ | -3,617 | $ | 4,248 | $ | -11,932 | ||||
Ending balance | $ | -32,797 | $ | -29,180 | $ | -33,428 | ||||
Total Other Comprehensive Income (Loss), net of tax | $ | -24,614 | $ | -4,883 | $ | -18,989 | ||||
Total ending AOCI | $ | -63,074 | $ | -38,521 | $ | -33,435 | ||||
(t) Stock Compensation | ||||||||||
The Company measures the cost of its stock-based compensation plans, which include restricted stock awards and restricted stock units, based on the fair value of the awards at the date of grant and recognizes these costs over the requisite service period of the awards. | ||||||||||
In June 2010, SB Holdings adopted the Spectrum Brands Holdings, Inc. 2007 Omnibus Equity Award Plan (formerly known as the Russell Hobbs Inc. 2007 Omnibus Equity Award Plan, as amended on June 24, 2008) (the “RH Plan”). Prior to October 21, 2010, up to 600 shares of common stock, net of forfeitures and cancellations, could have been issued under the RH Plan. After October 21, 2010, no further awards may be made under the RH Plan. | ||||||||||
On October 21, 2010, the Board adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award Plan (the “2011 Plan”), which was approved at the Annual Meeting of Stockholders on March 1, 2011. During Fiscal 2014, the 2011 Plan was amended to increase the shares issuable by 1,000. Including the amendment to the 2011 Plan, up to 5,626 shares of common stock of SB Holdings, net of cancellations, may be issued under the 2011 Plan. | ||||||||||
Total stock compensation expense associated with restricted stock units recognized by the Company during Fiscal 2014, Fiscal 2013 and Fiscal 2012, was $46,809, $43,861 and $29,164, respectively. The amounts before tax are included in General and administrative expenses in the accompanying Consolidated Statements of Operations. The remaining unrecognized pre-tax compensation cost related to restricted stock units at September 30, 2014 was $11,815. | ||||||||||
The Company granted approximately 669 restricted stock units during Fiscal 2014. The 669 restricted stock units granted during Fiscal 2014 include 203 restricted stock units that vested immediately and 143 restricted stock units that vest over a one year period. The remaining 323 restricted stock units are performance-based and vest over a two year period. The total market value of the restricted stock units on the date of the grant was approximately $50,507. | ||||||||||
The Company granted approximately 700 restricted stock units during Fiscal 2013. Of these grants, 48 restricted stock units are time-based and vest over a period of one year. Of the remaining 652 restricted stock units, 90 are performance-based and vest over a one year period and 562 are both performance and time-based and vest over a one year performance-based period followed by a one year time-based period. The total market value of the restricted stock units on the date of the grant was approximately $32,176. | ||||||||||
The Company granted approximately 863 restricted stock units during Fiscal 2012. Of these grants, 160 restricted stock units are time-based and vest over a period ranging from one to two years. The remaining 703 restricted stock units are both performance and time-based and vest over a one year performance-based period followed by a one year time-based period. The total market value of the restricted stock units on the date of the grant was approximately $24,408. | ||||||||||
A summary of the Company’s restricted stock and restricted stock unit award activity for Fiscal 2014, Fiscal 2013 and Fiscal 2012, and the non-vested awards outstanding as of September 30, 2014 is as follows: | ||||||||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Awards | Shares | Fair Value | Date | |||||||
Restricted stock awards at September 30, 2011 | 123 | 24.20 | $ | 2,977 | ||||||
Vested | -110 | 23.75 | -2,613 | |||||||
Restricted stock awards at September 30, 2012 | 13 | $ | 28.00 | $ | 364 | |||||
Vested | -13 | 28.00 | -364 | |||||||
Restricted stock awards at September 30, 2013 | — | $ | — | $ | — | |||||
Vested | — | — | — | |||||||
Restricted stock awards at September 30, 2014 | — | $ | — | $ | — | |||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Units | Shares | Fair Value | Date | |||||||
Non-vested restricted stock units at September 30, 2011 | 1,645 | $ | 28.97 | $ | 47,656 | |||||
Granted | 863 | 28.28 | 24,408 | |||||||
Forfeited | -57 | 28.49 | -1,624 | |||||||
Vested | -520 | 29.83 | -15,509 | |||||||
Non-vested restricted stock units at September 30, 2012 | 1,931 | $ | 28.45 | $ | 54,931 | |||||
Granted | 700 | 45.97 | 32,176 | |||||||
Forfeited | -302 | 30.36 | -9,168 | |||||||
Vested | -1,211 | 28.25 | -34,216 | |||||||
Non-vested restricted stock units at September 30, 2013 | 1,118 | $ | 39.11 | $ | 43,723 | |||||
Granted | 669 | 75.50 | 50,507 | |||||||
Forfeited | -6 | 69.33 | -416 | |||||||
Vested | -954 | 39.69 | -37,860 | |||||||
Non-vested restricted stock units at September 30, 2014 | 827 | $ | 67.66 | $ | 55,954 | |||||
(u) Restructuring and Related Charges | ||||||||||
Restructuring charges are recognized and measured in accordance with the provisions of ASC Topic 420: “Exit or Disposal Cost Obligations,” (“ASC 420”) and ASC Topic 712: “Compensation – Nonretirement Post-Employment Benefits,” (ASC 712”). Under ASC 420 and ASC 712, restructuring charges include, but are not limited to, termination and related costs consisting primarily of one-time termination benefits such as severance costs and retention bonuses, and contract termination costs consisting primarily of lease termination costs. Related charges, as defined by the Company, include, but are not limited to, other costs directly associated with exit and integration activities, including impairment of property and other assets, departmental costs of full-time incremental integration employees, and any other items related to the exit or integration activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. The Company presents restructuring and related charges on a combined basis. | ||||||||||
Liabilities from restructuring and related charges are recorded for estimated costs of facility closures, significant organizational adjustments and measures undertaken by management to exit certain activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. Such liabilities could include amounts for items such as severance costs and related benefits (including settlements of pension plans), impairment of property and equipment and other current or long term assets, lease termination payments and any other items directly related to the exit activities. While the actions are carried out as expeditiously as possible, restructuring and related charges are estimates. Changes in estimates resulting in an increase to or a reversal of a previously recorded liability may be required as management executes a restructuring plan. | ||||||||||
The Company reports restructuring and related charges associated with manufacturing and related initiatives in cost of goods sold. Restructuring and related charges reflected in cost of goods sold include, but are not limited to, termination and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives and other costs directly related to the restructuring initiatives implemented. | ||||||||||
The Company reports restructuring and related charges associated with administrative functions in operating expenses, such as initiatives impacting sales, marketing, distribution or other non-manufacturing related functions. Restructuring and related charges reflected in operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the administrative functions and other costs directly related to the initiatives implemented. | ||||||||||
(See also Note 14, “Restructuring and Related Charges,” for a more complete discussion of restructuring initiatives and related costs). | ||||||||||
(v) Acquisition and Integration Related Charges | ||||||||||
Acquisition and integration related charges reflected in Operating expenses include, but are not limited to, transaction costs such as banking, legal, accounting and other professional fees directly related to both consummated acquisitions and acquisition targets, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination expenses associated with mergers and acquisitions. | ||||||||||
The following table summarizes acquisition and integration related charges incurred by the Company during Fiscal 2014, Fiscal 2013 and Fiscal 2012: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Russell Hobbs | ||||||||||
Legal and professional fees | 9 | 39 | 1,495 | |||||||
Integration costs | 2,421 | $ | 3,452 | $ | 10,168 | |||||
Employee termination charges | 30 | 217 | 3,900 | |||||||
Russell Hobbs Acquisition and integration related charges | $ | 2,460 | $ | 3,708 | $ | 15,563 | ||||
HHI Business | ||||||||||
Legal and professional fees | 2,192 | 27,712 | — | |||||||
Integration costs | 8,691 | 8,864 | — | |||||||
Employee termination charges | 155 | 356 | — | |||||||
HHI Business Acquisition and integration related charges | $ | 11,038 | $ | 36,932 | $ | — | ||||
Liquid Fence | 3,475 | — | — | |||||||
Shaser | 930 | 4,828 | — | |||||||
FURminator | 53 | 2,270 | 7,938 | |||||||
Black Flag | — | 154 | 3,379 | |||||||
Other | 2,146 | 553 | 4,186 | |||||||
Total Acquisition and integration related charges | $ | 20,102 | $ | 48,445 | $ | 31,066 | ||||
Inventories
Inventories | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Inventories [Abstract] | ' | ||||||
Inventories | ' | ||||||
(3) INVENTORIES | |||||||
Inventories consist of the following: | |||||||
September, 30 | |||||||
2014 | 2013 | ||||||
Raw materials | $ | 104,129 | $ | 97,290 | |||
Work-in-process | 35,259 | 40,626 | |||||
Finished goods | 485,147 | 495,007 | |||||
$ | 624,535 | $ | 632,923 | ||||
Property_Plant_And_Equipment
Property, Plant And Equipment | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Property, Plant And Equipment [Abstract] | ' | ||||||
Property, Plant And Equipment | ' | ||||||
(4) Property, Plant and Equipment | |||||||
Property, plant and equipment consist of the following: | |||||||
September, 30 | |||||||
2014 | 2013 | ||||||
Land, buildings and improvements | $ | 159,811 | $ | 164,654 | |||
Machinery, equipment and other | 402,931 | 338,335 | |||||
Capitalized leases | 98,461 | 66,791 | |||||
Construction in progress | 32,199 | 46,668 | |||||
$ | 693,402 | $ | 616,448 | ||||
Accumulated depreciation | -264,525 | -203,897 | |||||
$ | 428,877 | $ | 412,551 | ||||
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Goodwill And Intangible Assets [Abstract] | ' | |||||||||||||||
Goodwill And Intangible Assets | ' | |||||||||||||||
(5) GOODWILL AND INTANGIBLE ASSETS | ||||||||||||||||
Goodwill and intangible assets consist of the following: | ||||||||||||||||
Global | Hardware & | |||||||||||||||
Batteries & | Home | Global Pet | Home and | |||||||||||||
Appliances | Improvement | Supplies | Garden | Total | ||||||||||||
Goodwill: | ||||||||||||||||
Balance at September 30, 2012 | $ | 268,556 | $ | — | $ | 237,932 | $ | 187,757 | $ | 694,245 | ||||||
Additions | 67,149 | 717,853 | — | 1,614 | 786,616 | |||||||||||
Effect of translation | -2,205 | -3,129 | 1,145 | — | -4,189 | |||||||||||
Balance at September 30, 2013 | $ | 333,500 | $ | 714,724 | $ | 239,077 | $ | 189,371 | $ | 1,476,672 | ||||||
Additions | — | 3,460 | — | 7,088 | 10,548 | |||||||||||
Effect of translation | -6,085 | -8,377 | -3,197 | — | -17,659 | |||||||||||
Balance at September 30, 2014 | $ | 327,415 | $ | 709,807 | $ | 235,880 | $ | 196,459 | $ | 1,469,561 | ||||||
Intangible Assets: | ||||||||||||||||
Trade Names Not Subject to Amortization | ||||||||||||||||
Balance at September 30, 2012 | $ | 545,426 | $ | — | $ | 212,142 | $ | 83,500 | $ | 841,068 | ||||||
Additions | — | 331,000 | — | — | 331,000 | |||||||||||
Effect of translation | 1,927 | -229 | 4,284 | — | 5,982 | |||||||||||
Balance at September 30, 2013 | $ | 547,353 | $ | 330,771 | $ | 216,426 | $ | 83,500 | $ | 1,178,050 | ||||||
Additions | — | — | — | 5,100 | 5,100 | |||||||||||
Effect of translation | -2,804 | -205 | -5,867 | — | -8,876 | |||||||||||
Balance at September 30, 2014 | $ | 544,549 | $ | 330,566 | $ | 210,559 | $ | 88,600 | $ | 1,174,274 | ||||||
Intangible Assets Subject to Amortization | ||||||||||||||||
Balance at September 30, 2012, net | $ | 447,112 | — | $ | 264,622 | $ | 162,127 | $ | 873,861 | |||||||
Additions | 29,379 | 158,100 | 802 | — | 188,281 | |||||||||||
Amortization during period | -35,553 | -11,372 | -21,379 | -9,475 | -77,779 | |||||||||||
Effect of translation | -162 | -267 | 1,182 | — | 753 | |||||||||||
Balance at September 30, 2013, net | $ | 440,776 | 146,461 | $ | 245,227 | $ | 152,652 | $ | 985,116 | |||||||
Additions | — | — | 1,788 | 21,800 | 23,588 | |||||||||||
Amortization during period | -34,998 | -14,758 | -21,578 | -10,394 | -81,728 | |||||||||||
Effect of translation | -5,429 | -1,171 | -3,111 | — | -9,711 | |||||||||||
Balance at September 30, 2014, net | $ | 400,349 | $ | 130,532 | $ | 222,326 | $ | 164,058 | $ | 917,265 | ||||||
Total Intangible Assets, net at September 30, 2014 | $ | 944,898 | $ | 461,098 | $ | 432,885 | $ | 252,658 | $ | 2,091,539 | ||||||
Intangible assets subject to amortization include proprietary technology, customer relationships and certain trade names, which were recognized in connection with acquisitions and from the application of fresh-start reporting in the fiscal year ended September 20, 2009. The useful lives for proprietary technology assets associated with the Global Batteries & Appliances segment, the Hardware & Home Improvement segment and the Global Pet Supplies segment range from 9 to 17 years, 8 to 9 years and 4 to 9 years, respectively. The useful lives of customer relationships range from 15 to 20 years within the Global Batteries & Appliances segment and 20 years in each of the Hardware & Home Improvement, Home and Garden and Global Pet Supplies segments. The useful lives for trade names range from 1 to 12 years within the Global Batteries & Appliances segment, 5 to 8 years within the Hardware & Home Improvement segment and 3 years within the Global Pet Supplies segment. | ||||||||||||||||
The carrying value and accumulated amortization for intangible assets subject to amortization are as follows: | ||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||
Technology Assets Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 192,179 | $ | 172,105 | ||||||||||||
Accumulated amortization | -57,567 | -39,028 | ||||||||||||||
Carrying value, net | $ | 134,612 | $ | 133,077 | ||||||||||||
Trade Names Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 171,072 | $ | 171,572 | ||||||||||||
Accumulated amortization | -60,997 | -44,660 | ||||||||||||||
Carrying value, net | $ | 110,075 | $ | 126,912 | ||||||||||||
Customer Relationships Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 877,157 | $ | 885,895 | ||||||||||||
Accumulated amortization | -204,579 | -160,768 | ||||||||||||||
Carrying value, net | $ | 672,578 | $ | 725,127 | ||||||||||||
Total Intangible Assets, net Subject to Amortization | $ | 917,265 | $ | 985,116 | ||||||||||||
Amortization expense for the years ended September 30, 2014, September 30, 2013 and September 30, 2012 is as follows: | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Proprietary technology amortization | $ | 18,552 | $ | 16,260 | $ | 9,133 | ||||||||||
Trade names amortization | 16,448 | 16,587 | 14,347 | |||||||||||||
Customer relationships amortization | 46,728 | 44,932 | 40,186 | |||||||||||||
$ | 81,728 | $ | 77,779 | $ | 63,666 | |||||||||||
The Company estimates annual amortization expense of intangible assets for the next five fiscal years will approximate $77,500 per year. | ||||||||||||||||
Debt
Debt | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Debt [Abstract] | ' | ||||||||||||
Debt | ' | ||||||||||||
(6) DEBT | |||||||||||||
Debt consists of the following: | |||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||
Amount | Rate | Amount | Rate | ||||||||||
Term Loan, due September 4, 2017 (Tranche A) | $ | 648,383 | 3.0 | % | $ | 850,000 | 3.0 | % | |||||
Term Loan, due September 4, 2019 (Tranche C) | 509,850 | 3.6 | % | 300,000 | 3.6 | % | |||||||
CAD Term Loan, due December 17, 2019 | 34,219 | 5.1 | % | 81,397 | 5.1 | % | |||||||
Term Loan, due December 17, 2019 (Tranche B) | — | — | % | 513,312 | 4.6 | % | |||||||
Euro Term Loan, due September 4, 2019 | 283,339 | 3.8 | % | — | — | % | |||||||
6.375% Notes, due November 15, 2020 | 520,000 | 6.4 | % | 520,000 | 6.4 | % | |||||||
6.625% Notes, due November 15, 2022 | 570,000 | 6.6 | % | 570,000 | 6.6 | % | |||||||
6.75% Notes, due March 15, 2020 | 300,000 | 6.8 | % | 300,000 | 6.8 | % | |||||||
ABL Facility, expiring May 24, 2017 | — | 2.5 | % | — | 5.7 | % | |||||||
Other notes and obligations | 36,584 | 8.8 | % | 28,468 | 8.5 | % | |||||||
Capitalized lease obligations | 94,711 | 6.1 | % | 67,402 | 6.2 | % | |||||||
$ | 2,997,086 | $ | 3,230,579 | ||||||||||
Original issuance discounts on debt | -6,213 | -11,716 | |||||||||||
Less: current maturities | -96,736 | -102,921 | |||||||||||
Long-term debt | $ | 2,894,137 | $ | 3,115,942 | |||||||||
The Company’s aggregate scheduled maturities of debt and capital lease obligations as of September 30, 2014 are as follows: | |||||||||||||
2015 | $ | 96,736 | |||||||||||
2016 | 75,990 | ||||||||||||
2017 | 559,244 | ||||||||||||
2018 | 13,049 | ||||||||||||
2019 | 766,459 | ||||||||||||
Thereafter | 1,485,608 | ||||||||||||
$ | 2,997,086 | ||||||||||||
The Company has the following debt instruments outstanding at September 30, 2014: (i) a senior secured term loan pursuant to a senior credit agreement (the “Senior Credit Agreement”) which consists of $648,383 principal due September 4, 2017 (“Tranche A”), $509,850 principal due September 4, 2019 (“Tranche C”), $34,219 Canadian dollar denominated principal due December 17, 2019 (“CAD Term Loan”) and $283,339 Euro denominated principal due September 4, 2019 (“Euro Term Loan”) (together, the “Term Loan”); (ii) $300,000 6.75% unsecured notes (the “6.75% Notes”); (iii) $520,000 6.375% unsecured notes (the “6.375% Notes”); (iv) $570,000 6.625% unsecured notes (the “ 6.625% Notes”); and (v) a $400,000 asset based lending revolving credit facility (the “ABL Facility”). | |||||||||||||
Term Loan | |||||||||||||
On December 17, 2012, the Company entered into a senior term loan facility, maturing December 17, 2019, which provides for borrowings in an aggregate principal amount of $800,000, with $100,000 in Canadian dollar equivalents (the “HHI Term Loan”) in connection with the acquisition of the residential hardware and home improvement business (the “HHI Business”). A portion of the HHI Term Loan proceeds were used to refinance the former term loan facility, which was scheduled to mature on June 17, 2016, and had an aggregate amount outstanding of $370,175 prior to refinancing. In connection with the refinancing, the Company recorded accelerated amortization of portions of the unamortized discount and unamortized Debt issuance costs related to the former term loan facility totaling $5,485 as an adjustment to Interest expense during Fiscal 2013. | |||||||||||||
The HHI Term Loan was issued at a 1.0% discount and recorded net of the $8,000 discount incurred. The discount is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt. In connection with the issuance of the HHI Term Loan, the Company recorded $19,328 of fees during Fiscal 2013, of which $16,907 is classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and is being amortized as an adjustment to interest expense over the remaining life of the HHI Term Loan, with the remainder of $2,421 reflected as an increase to Interest expense during Fiscal 2013. | |||||||||||||
On September 4, 2013, the Company amended the senior term loan facility, issuing a tranche maturing September 4, 2017, which provides for borrowings in an aggregate principal amount of $850,000, and a tranche maturing September 4, 2019, which provides borrowings in an aggregate principal amount of $300,000 (together with the HHI Term Loan, the “Term Loan”). The proceeds from the amendment were used to extinguish the former 9.5% Notes, which were scheduled to mature on June 15, 2018, and for general corporate purposes. The 9.5% Notes had an outstanding amount of $950,000 prior to extinguishment. | |||||||||||||
The tranches related to the amendment of the Term Loan on September 4, 2013, were issued at a .5% discount and recorded net of the $5,750 discount incurred. The discount is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt. In connection with the amendment of the Term Loan, the Company recorded $16,381 of fees during Fiscal 2013 which is classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and is being amortized as an adjustment to interest expense over the remaining life of the Term Loan. | |||||||||||||
On December 18, 2013, the Company amended the Term Loan, issuing two tranches maturing September 4, 2019 which provide for borrowings in aggregate principal amounts of $215,000 and €225,000. The proceeds from the amendment were used to refinance a portion of the Term Loan (formerly Tranche B) which was scheduled to mature December 17, 2019, in an amount outstanding of $513,312 prior to refinancing. The $215,000 additional U.S. dollar denominated portion was combined with the existing Tranche C maturing September 4, 2019. The Company recorded accelerated amortization of portions of the unamortized discount and unamortized Debt issuance costs related to the refinancing of the Term Loan totaling $9,216 as an adjustment to interest expense during Fiscal 2014. | |||||||||||||
The additional Tranche C and Euro Term Loan debt were issued at a .125% discount and recorded net of the discount incurred. Of this discount, $510 is reflected as an adjustment to the carrying value of principal, and is being amortized with a corresponding charge to interest expense over the remaining life of the debt, and the remainder of $146 is reflected as an increase to interest expense during Fiscal 2014. In connection with the refinancing of a portion of the Term Loan, the Company recorded $7,236 of fees during Fiscal 2014 of which $5,150 is classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and is being amortized as an adjustment to interest expense over the remaining life of the Term Loan, with the remainder of $2,086 reflected as an increase to interest expense during Fiscal 2014. | |||||||||||||
The Term Loan contains financial covenants with respect to debt, including, but not limited to, a fixed charge ratio. In addition, the Term Loan contains customary restrictive covenants, including, but not limited to, restrictions on the Company's ability to incur additional indebtedness, create liens, make investments or specified payments, give guarantees, pay dividends, make capital expenditures and merge or acquire or sell assets. Pursuant to a guarantee and collateral agreement, the Company, its domestic subsidiaries and its Canadian subsidiaries have guaranteed their respective obligations under the Term Loan and related loan documents and have pledged substantially all of their respective assets to secure such obligations. The Term Loan also provides for customary events of default, including payment defaults and cross-defaults on other material indebtedness. | |||||||||||||
6.375% Notes and 6.625% Notes | |||||||||||||
On December 17, 2012, in connection with the acquisition of the HHI Business, the Company assumed $520,000 aggregate principal amount of 6.375% Notes at par value, due November 15, 2020 (the “6.375% Notes”), and $570,000 aggregate principal amount of 6.625% Notes at par value, due November 15, 2022 (the “6.625% Notes”), previously issued by Spectrum Brands Escrow Corporation. The 6.375% Notes and the 6.625% Notes are unsecured and guaranteed by Spectrum Brands’ parent company, SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries. | |||||||||||||
The Company may redeem all or a part of the 6.375% Notes and the 6.625% Notes, upon not less than 30 or more than a 60 day notice, at specified redemption prices. Further, the indenture governing the 6.375% Notes and the 6.625% Notes (the “2020/22 Indenture”) requires the Company to make an offer, in cash, to repurchase all or a portion of the applicable outstanding notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of the Company, as defined in such indenture. | |||||||||||||
The 2020/22 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. | |||||||||||||
In addition, the 2020/22 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2020/22 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.375% Notes and the 6.625% Notes. If any other event of default under the 2020/22 Indenture occurs and is continuing, the trustee for the 2020/22 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.375% Notes, or the 6.625% Notes, may declare the acceleration of the amounts due under those notes. | |||||||||||||
The Company recorded $12,906 and $14,127 of fees in connection with the offering of the 6.375% Notes and the 6.625% Notes, respectively, during Fiscal 2013. The fees are classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and are being amortized as an adjustment to interest expense over the respective remaining lives of the 6.375% Notes and the 6.625% Notes. | |||||||||||||
In connection with the registration of the 6.375% Notes and the 6.625% Notes that were assumed on December 17, 2012 to finance the acquisition of the HHI Business, the Company recorded $261 of fees during Fiscal 2014. The $261 was classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and is being amortized as an adjustment to interest expense over the remaining life of the 6.375% Notes and the 6.625% Notes. | |||||||||||||
6.75% Notes | |||||||||||||
On March 15, 2012 the Company offered $300,000 aggregate principal amount of 6.75% Notes at a price of 100% of the par value. The 6.75% Notes are unsecured and guaranteed by SB/RH Holdings, LLC, as well as by existing and future domestic restricted subsidiaries. | |||||||||||||
The Company may redeem all or a part of the 6.75% Notes, upon not less than 30 or more than 60 days notice, at specified redemption prices. Further, the indenture governing the 6.75% Notes (the “2020 Indenture”) requires the Company to make an offer, in cash, to repurchase all or a portion of the applicable outstanding notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of the Company, as defined in such indenture. | |||||||||||||
The 2020 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. | |||||||||||||
In addition, the 2020 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2020 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.75% Notes. If any other event of default under the 2020 Indenture occurs and is continuing, the trustee for the 2020 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.75% Notes may declare the acceleration of the amounts due under those notes. | |||||||||||||
The Company recorded $6,265 of fees in connection with the offering of the 6.75% Notes during Fiscal 2012. The fees are classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and are amortized as an adjustment to interest expense over the remaining life of the 6.75% Notes. | |||||||||||||
ABL Facility | |||||||||||||
On December 17, 2012, the Company exercised its option to increase its asset based lending revolving credit facility (the “ABL Facility”) from $300,000 to $400,000 and extend the maturity to May 24, 2017. In connection with the increase and extension, the Company incurred $323 of fees during Fiscal 2013. The fees are classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and are being amortized as an adjustment to interest expense over the remaining life of the ABL Facility. | |||||||||||||
On March 28, 2013, the Company amended its ABL Facility to conform certain provisions to reflect the acquisition of the HHI Business. In connection with the amendment, the Company incurred $206 of fees during Fiscal 2013. The fees are classified as Debt issuance costs within the accompanying Consolidated Statements of Financial Position and are being amortized as an adjustment to interest expense over the remaining life of the ABL Facility. | |||||||||||||
In connection with the December 18, 2013 amendment of the Term Loan, the Company amended the ABL Facility to obtain certain consents to the amendment of the Senior Credit Agreement. In connection with the amendment, the Company incurred fees and expenses that are included in the amounts recorded above related to the amendment of the Term Loan. | |||||||||||||
As a result of borrowings and payments under the ABL Facility, at September 30, 2014, the Company had aggregate borrowing availability of approximately $266,853, net of lender reserves of $6,398 and outstanding letters of credit of $51,032. | |||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||||||
Derivative Financial Instruments | ' | |||||||||||||
(7) DERIVATIVE FINANCIAL INSTRUMENTS | ||||||||||||||
Derivative financial instruments are used by the Company principally in the management of its interest rate, foreign currency exchange rate and raw material price exposures. The Company does not hold or issue derivative financial instruments for trading purposes. Derivative instruments are reported at fair value in the Consolidated Statements of Financial Position. When hedge accounting is elected at inception, the Company formally designates the financial instrument as a hedge of a specific underlying exposure and documents both the risk management objectives and strategies for undertaking the hedge. The Company formally assesses both at the inception and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the forecasted cash flows of the related underlying exposure. Because of the high degree of effectiveness between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the forecasted cash flows of the underlying exposures being hedged. Any ineffective portion of a financial instrument’s change in fair value is recognized in earnings. For derivatives that are not designated as cash flow hedges, or do not qualify for hedge accounting treatment, the change in the fair value is also recognized in earnings. | ||||||||||||||
Derivative Financial Instruments | ||||||||||||||
Cash Flow Hedges | ||||||||||||||
The Company uses interest rate swaps to manage its interest rate risk. The swaps are designated as cash flow hedges with the changes in fair value recorded in AOCI and as a derivative hedge asset or liability, as applicable. The swaps settle periodically in arrears with the related amounts for the current settlement period payable to, or receivable from, the counter-parties included in accrued liabilities or receivables, respectively, and recognized in earnings as an adjustment to Interest expense from the underlying debt to which the swap is designated. At September 30, 2014, the Company had a series of U.S. dollar denominated interest rate swaps outstanding which effectively fix the interest on floating rate debt, exclusive of lender spreads, at 1.36% for a notional principal amount of $300,000 through April 2017. At September 30, 2013, the Company did not have any interest rate swaps outstanding. The derivative net loss on these contracts recorded in AOCI by the Company at September 30, 2014 was $704, net of tax benefit of $0. At September 30, 2014, the portion of derivative net losses estimated to be reclassified from AOCI into earnings by the Company over the next 12 months is $1,335, net of tax. | ||||||||||||||
The Company’s interest rate swap derivative financial instruments at September 30, 2014 and September 30, 2013 are summarized as follows: | ||||||||||||||
2014 | 2013 | |||||||||||||
Notional Amount | Remaining Years | Notional Amount | Remaining Years | |||||||||||
Interest rate swaps - fixed | $ | 300,000 | 2.5 | $ | — | — | ||||||||
The Company periodically enters into forward foreign exchange contracts to hedge the risk from forecasted foreign currency denominated third party and intercompany sales or payments. These obligations generally require the Company to exchange foreign currencies for U.S. Dollars, Euros, Pounds Sterling, Australian Dollars, Brazilian Reals, Mexican Pesos, Canadian Dollars or Japanese Yen. These foreign exchange contracts are cash flow hedges of fluctuating foreign exchange rates related to sales of product or raw material purchases. Until the sale or purchase is recognized, the fair value of the related hedge is recorded in AOCI and as a derivative hedge asset or liability, as applicable. At the time the sale or purchase is recognized, the fair value of the related hedge is reclassified as an adjustment to Net sales or purchase price variance in Cost of goods sold. | ||||||||||||||
At September 30, 2014, the Company had a series of foreign exchange derivative contracts outstanding through September 2015 with a contract value of $226,694. At September 30, 2013 the Company had a series of foreign exchange derivative contracts outstanding through September 2014 with a contract value of $255,909. The derivative net gain on these contracts recorded in AOCI at September 30, 2014 was $8,908, net of tax expense of $3,413. The derivative loss on these contracts recorded in AOCI at September 30, 2013 was $2,287, net of tax benefit of $637. At September 30, 2014, the portion of derivative net losses estimated to be reclassified from AOCI into earnings over the next 12 months is $8,658, net of tax. | ||||||||||||||
The Company is exposed to risk from fluctuating prices for raw materials, specifically zinc and brass used in its manufacturing processes. The Company hedges a portion of the risk associated with the purchase of these materials through the use of commodity swaps. The hedge contracts are designated as cash flow hedges with the fair value changes recorded in AOCI and as a hedge asset or liability, as applicable. The unrecognized changes in fair value of the hedge contracts are reclassified from AOCI into earnings when the hedged purchase of raw materials also affects earnings. The swaps effectively fix the floating price on a specified quantity of raw materials through a specified date. At September 30, 2014, the Company had a series of zinc swap contracts outstanding through September 2015 for 8 tons with a contract value of $17,376. To hedge brass exposures, at September 30, 2014, the Company had a series of zinc and copper swap contracts outstanding through June 2015 for 1 ton with a contract value of $2,835. At September 30, 2013 the Company had a series of zinc swap contracts outstanding through December 2014 for 8 tons with a contract value of $16,235. The derivative net gain on these contracts recorded in AOCI at September 30, 2014 was $1,007, net of tax expense of $127. The derivative net loss on these contracts recorded in AOCI at September 30, 2013 was $4, net of tax benefit of $32. At September 30, 2014, the portion of derivative net gain estimated to be reclassified from AOCI into earnings over the next 12 months is $1,007, net of tax. | ||||||||||||||
Derivative Contracts Not Designated As Hedge Accounting | ||||||||||||||
The Company periodically enters into forward and swap foreign exchange contracts to economically hedge the risk from third party and intercompany payments resulting from existing obligations. These obligations generally require the Company to exchange foreign currencies for U.S. Dollars, Canadian Dollars, Euros or Australian Dollars. These foreign exchange contracts are economic hedges of a related liability or asset recorded in the accompanying Consolidated Statements of Financial Position. The gain or loss on the derivative hedge contracts is recorded in earnings as an offset to the change in value of the related liability or asset at each period end. At September 30, 2014 and September 30, 2013, the Company had $108,855 and $108,480, respectively, of notional value for such foreign exchange derivative contracts outstanding. | ||||||||||||||
The Company periodically enters into commodity swap contracts to economically hedge the risk from fluctuating prices for raw materials, specifically the pass-through of market prices for silver used in manufacturing purchased watch batteries. The Company hedges a portion of the risk associated with these materials through the use of commodity swaps. The swap contracts are designated as economic hedges with the unrealized gain or loss recorded in earnings and as an asset or liability at each period end. The unrecognized changes in fair value of the hedge contracts are adjusted through earnings when the realized gains or losses affect earnings upon settlement of the hedges. The swaps effectively fix the floating price on a specified quantity of silver through a specified date. At September 30, 2014, the Company had a series of such swap contracts outstanding through September 2015 for 25 troy ounces with a contract value of $445. At September 30, 2013, the Company had a series of such swap contracts outstanding through May 2014 for 45 troy ounces with a contract value of $980. | ||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||
The Company discloses its derivative instruments and hedging activities in accordance with ASC Topic 815: “Derivatives and Hedging” (“ASC 815”). | ||||||||||||||
The fair value of the Company’s outstanding derivative contracts recorded as assets in the accompanying Consolidated Statements of Financial Position are as follows: | ||||||||||||||
Asset Derivatives | 30-Sep-14 | 30-Sep-13 | ||||||||||||
Derivatives designated as hedging instruments under ASC 815: | ||||||||||||||
Interest rate contracts | Deferred charges and other | $ | 631 | $ | — | |||||||||
Commodity contracts | Receivables—Other | 1,276 | 416 | |||||||||||
Commodity contracts | Deferred charges and other | — | 3 | |||||||||||
Foreign exchange contracts | Receivables—Other | 11,976 | 1,719 | |||||||||||
Foreign exchange contracts | Deferred charges and other | 345 | — | |||||||||||
Total asset derivatives designated as hedging instruments under ASC 815 | 14,228 | 2,138 | ||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | ||||||||||||||
Foreign exchange contracts | Receivables—Other | 508 | 143 | |||||||||||
Total asset derivatives | $ | 14,736 | $ | 2,281 | ||||||||||
The fair value of the Company’s outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Statements of Financial Position are as follows: | ||||||||||||||
Liability Derivatives | 30-Sep-14 | 30-Sep-13 | ||||||||||||
Derivatives designated as hedging instruments under ASC 815: | ||||||||||||||
Interest rate contracts | Other current liabilities | $ | 1,335 | $ | — | |||||||||
Interest rate contracts | Accrued interest | 440 | — | |||||||||||
Commodity contracts | Accounts payable | 150 | 450 | |||||||||||
Foreign exchange contracts | Accounts payable | — | 4,577 | |||||||||||
Foreign exchange contracts | Other long-term liabilities | — | 65 | |||||||||||
Total liability derivatives designated as hedging instruments under ASC 815 | $ | 1,925 | $ | 5,092 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815: | ||||||||||||||
Commodity contract | Accounts payable | $ | 45 | $ | 55 | |||||||||
Foreign exchange contracts | Accounts payable | 149 | 5,323 | |||||||||||
Total liability derivatives | $ | 2,119 | $ | 10,470 | ||||||||||
Changes in AOCI from Derivative Instruments | ||||||||||||||
For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the effective portion of the derivative is reported as a component of Accumulated Other Comprehensive Income (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on derivatives representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. | ||||||||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2014, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Interest rate contracts | $ | -1,610 | Interest expense | $ | -906 | Interest expense | $ | — | ||||||
Commodity contracts | 1,933 | Cost of goods sold | 763 | Cost of goods sold | -14 | |||||||||
Foreign exchange contracts | 147 | Net sales | 210 | Net sales | — | |||||||||
Foreign exchange contracts | 12,684 | Cost of goods sold | -2,624 | Cost of goods sold | — | |||||||||
Total | $ | 13,154 | $ | -2,557 | $ | -14 | ||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2013, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Commodity contracts | $ | -2,615 | Cost of goods sold | $ | -632 | Cost of goods sold | $ | -39 | ||||||
Foreign exchange contracts | 884 | Net sales | 920 | Net sales | — | |||||||||
Foreign exchange contracts | -282 | Cost of goods sold | 632 | Cost of goods sold | — | |||||||||
Total | $ | -2,013 | $ | 920 | $ | -39 | ||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2012, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Commodity contracts | $ | 1,606 | Cost of goods sold | $ | -1,148 | Cost of goods sold | $ | 94 | ||||||
Interest rate contracts | 15 | Interest expense | -864 | Interest expense | — | |||||||||
Foreign exchange contracts | 61 | Net sales | -474 | Net sales | — | |||||||||
Foreign exchange contracts | -3,506 | Cost of goods sold | -611 | Cost of goods sold | — | |||||||||
Total | $ | -1,824 | $ | -3,097 | $ | 94 | ||||||||
Other Changes in Fair Value of Derivative Contracts | ||||||||||||||
For derivative instruments that are used to economically hedge the fair value of the Company’s third party and intercompany foreign currency payments, commodity purchases and interest rate payments, the gain (loss) associated with the derivative contract is recognized in earnings in the period of change. During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company recognized the following gains (losses) on these derivative contracts: | ||||||||||||||
Amount of Gain (Loss) | ||||||||||||||
Recognized in | Location of Gain (Loss) | |||||||||||||
Derivatives Not Designated as | Income on Derivatives | Recognized in | ||||||||||||
Hedging Instruments Under ASC 815 | 2014 | 2013 | 2012 | Income on Derivatives | ||||||||||
Commodity contracts | $ | -99 | $ | -55 | $ | — | Cost of goods sold | |||||||
Foreign exchange contracts | 3,115 | -3,597 | 5,916 | Other expense, net | ||||||||||
Total | $ | 3,016 | $ | -3,652 | $ | 5,916 | ||||||||
Credit Risk | ||||||||||||||
The Company is exposed to the risk of default by the counterparties with which it transacts and generally does not require collateral or other security to support financial instruments subject to credit risk. The Company monitors counterparty credit risk on an individual basis by periodically assessing each such counterparty’s credit rating exposure. The maximum loss due to credit risk equals the fair value of the gross asset derivatives that are concentrated with certain domestic and foreign financial institution counterparties. The Company considers these exposures when measuring its credit reserve on its derivative assets, which was $48 and $5 at September 30, 2014 and September 30, 2013, respectively. | ||||||||||||||
The Company’s standard contracts do not contain credit risk related contingent features whereby the Company would be required to post additional cash collateral as a result of a credit event. However, the Company is typically required to post collateral in the normal course of business to offset its liability positions. At September 30, 2014 and September 30, 2013, the Company had posted cash collateral of $0 and $450, respectively, related to such liability positions. In addition, at September 30, 2014 and September 30, 2013, the Company had no posted standby letters of credit related to such liability positions. The cash collateral is included in Current Assets—Receivables-Other within the accompanying Consolidated Statements of Financial Position. | ||||||||||||||
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Fair Value Of Financial Instruments [Abstract] | ' | ||||||||||||
Fair Value Of Financial Instruments | ' | ||||||||||||
(8) FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||
ASC Topic 820: “Fair Value Measurements and Disclosures” (“ASC 820”), establishes a framework for measuring fair value and expands related disclosures. Broadly, the ASC 820 framework requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. ASC 820 establishes market or observable inputs as the preferred source of values, followed by assumptions based on hypothetical transactions in the absence of market inputs. The Company utilizes valuation techniques that attempt to maximize the use of observable inputs and minimize the use of unobservable inputs. The determination of the fair values considers various factors, including closing exchange or over-the-counter market pricing quotations, time value and credit quality factors underlying options and contracts. The fair value of certain derivative financial instruments is estimated using pricing models based on contracts with similar terms and risks. Modeling techniques assume market correlation and volatility, such as using prices of one delivery point to calculate the price of the contract’s different delivery point. The nominal value of interest rate transactions is discounted using applicable forward interest rate curves. In addition, by applying a credit reserve which is calculated based on credit default swaps or published default probabilities for the actual and potential asset value, the fair value of the Company’s derivative financial instrument assets reflects the risk that the counterparties to these contracts may default on the obligations. Likewise, by assessing the requirements of a reserve for non-performance which is calculated based on the probability of default by the Company, the Company adjusts its derivative contract liabilities to reflect the price at which a potential market participant would be willing to assume the Company’s liabilities. The Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the year. | |||||||||||||
The valuation techniques required by ASC 820 are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the Company. These two types of inputs create the following fair value hierarchy: | |||||||||||||
Level 1 - | Unadjusted quoted prices for identical instruments in active markets. | ||||||||||||
Level 2 - | Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. | ||||||||||||
Level 3 - | Significant inputs to the valuation model are unobservable. | ||||||||||||
The Company maintains policies and procedures to value instruments using the best and most relevant data available. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls must be determined based on the lowest level input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. In addition, the Company has risk management teams that review valuation, including independent price validation for certain instruments. Further, in other instances, the Company retains independent pricing vendors to assist in valuing certain instruments. | |||||||||||||
The Company’s derivatives are valued on a recurring basis using internal models, which are based on market observable inputs including interest rate curves and both forward and spot prices for currencies and commodities. | |||||||||||||
The Company’s net derivative portfolio as of September 30, 2014, contains Level 2 instruments and consists of interest rate, commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2014 were as follows: | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | |||||||||||||
Interest rate contracts | $ | — | $ | 631 | $ | — | $ | 631 | |||||
Commodity contracts | — | 1,276 | — | 1,276 | |||||||||
Foreign exchange contracts | — | 12,829 | — | 12,829 | |||||||||
Total Assets | $ | — | $ | 14,736 | $ | — | $ | 14,736 | |||||
Liabilities: | |||||||||||||
Interest rate contracts | $ | — | $ | -1,775 | $ | — | $ | -1,775 | |||||
Commodity contracts | — | -195 | $ | — | -195 | ||||||||
Foreign exchange contracts | — | -149 | — | -149 | |||||||||
Total Liabilities | $ | — | $ | -2,119 | $ | — | $ | -2,119 | |||||
The Company’s net derivative portfolio as of September 30, 2013, contains Level 2 instruments and consists of commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2013 were as follows: | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | |||||||||||||
Commodity contracts | $ | — | $ | 419 | $ | — | $ | 419 | |||||
Foreign exchange contracts | — | 1,862 | — | 1,862 | |||||||||
Total Assets | $ | — | $ | 2,281 | $ | — | $ | 2,281 | |||||
Liabilities: | |||||||||||||
Commodity contracts | $ | — | $ | -505 | $ | — | $ | -505 | |||||
Foreign exchange contracts | — | -9,965 | — | -9,965 | |||||||||
Total Liabilities | $ | — | $ | -10,470 | $ | — | $ | -10,470 | |||||
The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and short term debt approximate fair value based on the short-term nature of these assets and liabilities. The fair values of long-term publicly traded debt are based on unadjusted quoted market prices (Level 1) and derivative financial instruments are generally based on quoted or observed market prices (Level 2). | |||||||||||||
The carrying values of goodwill, intangible assets and other long-lived assets are tested annually or more frequently if an event occurs that indicates an impairment loss may have been incurred, using fair value measurements with unobservable inputs (Level 3). | |||||||||||||
The carrying amounts and fair values of the Company’s financial instruments are summarized as follows ((liability)/ asset): | |||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||
Carrying | Carrying | ||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||
Total debt | $ | -2,990,873 | $ | -3,061,467 | $ | -3,218,863 | $ | -3,297,411 | |||||
Interest swap agreements | -1,144 | -1,144 | — | — | |||||||||
Commodity swap and option agreements | 1,081 | 1,081 | -86 | -86 | |||||||||
Foreign exchange forward agreements | 12,680 | 12,680 | -8,103 | -8,103 | |||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Income Taxes | ' | |||||||||
(9) INCOME TAXES | ||||||||||
Income tax expense was calculated based upon the following components of income (loss) from continuing operations before income tax: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Pretax income (loss): | ||||||||||
United States | $ | 80,726 | $ | -212,168 | $ | -66,102 | ||||
Outside the United States | 192,803 | 184,214 | 175,059 | |||||||
Total pretax income (loss) | $ | 273,529 | $ | -27,954 | $ | 108,957 | ||||
The components of income tax expense are as follows: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Current: | ||||||||||
Federal | $ | 6,165 | $ | — | $ | — | ||||
Foreign | 46,578 | 47,740 | 38,113 | |||||||
State | 4,351 | 1,274 | -361 | |||||||
Total current | $ | 57,094 | $ | 49,014 | $ | 37,752 | ||||
Deferred: | ||||||||||
Federal | 19,694 | -23,397 | 20,884 | |||||||
Foreign | -8,186 | 2,146 | 5,190 | |||||||
State | -9,579 | -404 | -3,441 | |||||||
Total deferred | $ | 1,929 | $ | -21,655 | $ | 22,633 | ||||
Income tax expense | $ | 59,023 | $ | 27,359 | $ | 60,385 | ||||
The following reconciles the total income tax expense, based on the U.S. Federal statutory income tax rate of 35%, with the Company’s recognized income tax expense: | ||||||||||
2014 | 2013 | 2012 | ||||||||
U.S. Statutory federal income tax expense (benefit) | $ | 95,735 | $ | -9,784 | $ | 38,135 | ||||
Permanent items | 4,643 | 10,104 | 8,595 | |||||||
Exempt foreign income | -5,665 | -5,921 | -5,760 | |||||||
Foreign statutory rate vs. U.S. statutory rate | -23,120 | -19,182 | -15,211 | |||||||
State income taxes, net of federal expense (benefit) | 5,416 | -11,686 | -2,164 | |||||||
Residual tax on foreign earnings | 90,939 | -6,958 | 29,844 | |||||||
FURminator purchase accounting benefit | — | — | -14,511 | |||||||
HHI Business purchase accounting benefit | — | -49,848 | — | |||||||
Valuation allowance | -115,571 | 114,282 | 28,485 | |||||||
Unrecognized tax expense (benefit) | 529 | 4,062 | -4,386 | |||||||
Inflationary adjustments | -468 | -245 | -803 | |||||||
Foreign tax law changes | -7,666 | — | — | |||||||
Nondeductible share compensation | 1,441 | 1,669 | 684 | |||||||
Return to provision adjustments and other, net | 12,810 | 866 | -2,523 | |||||||
Income tax expense | $ | 59,023 | $ | 27,359 | $ | 60,385 | ||||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | ||||||||||
September 30, | ||||||||||
2014 | 2013 | |||||||||
Current deferred tax assets: | ||||||||||
Employee benefits | $ | 16,487 | $ | 11,372 | ||||||
Restructuring | 6,318 | 7,085 | ||||||||
Inventories and receivables | 24,906 | 24,296 | ||||||||
Marketing and promotional accruals | 15,966 | 14,146 | ||||||||
Other | 14,207 | 23,261 | ||||||||
Valuation allowance | -36,015 | -32,342 | ||||||||
Total current deferred tax assets | $ | 41,869 | $ | 47,818 | ||||||
Current deferred tax liabilities: | ||||||||||
Inventories and receivables | -745 | -2,748 | ||||||||
Unrealized gains | -1,179 | -373 | ||||||||
Other | -6,018 | -11,738 | ||||||||
Total current deferred tax liabilities | $ | -7,942 | $ | -14,859 | ||||||
Net current deferred tax assets | $ | 33,927 | $ | 32,959 | ||||||
Noncurrent deferred tax assets: | ||||||||||
Employee benefits | $ | 41,248 | $ | 35,578 | ||||||
Restructuring and purchase accounting | 712 | 340 | ||||||||
Net operating loss and credit carry forwards | 507,514 | 668,679 | ||||||||
Prepaid royalty | 6,582 | 6,956 | ||||||||
Property, plant and equipment | 7,040 | 9,692 | ||||||||
Unrealized losses | 279 | 2,136 | ||||||||
Long-term debt | 49 | 668 | ||||||||
Intangibles | 6,737 | 3,917 | ||||||||
Other | 5,217 | 5,268 | ||||||||
Valuation allowance | -297,091 | -422,244 | ||||||||
Total noncurrent deferred tax assets | $ | 278,287 | $ | 310,990 | ||||||
Noncurrent deferred tax liabilities: | ||||||||||
Property, plant, and equipment | -22,634 | -27,478 | ||||||||
Unrealized gains | -20,012 | -13,126 | ||||||||
Intangibles | -728,018 | -735,506 | ||||||||
Taxes on unremitted foreign earnings | -2,648 | -18,581 | ||||||||
Other | -8,173 | -9,073 | ||||||||
Total noncurrent deferred tax liabilities | $ | -781,485 | $ | -803,764 | ||||||
Net noncurrent deferred tax liabilities | $ | -503,198 | $ | -492,774 | ||||||
Net current and noncurrent deferred tax liabilities | $ | -469,271 | $ | -459,815 | ||||||
In Fiscal 2012, the Company began recording residual U.S. and foreign taxes on undistributed foreign earnings as a result of its change in position regarding future repatriation and the requirements of ASC Topic 740: “Income Taxes” on a prospective basis. To the extent necessary, the Company intends to utilize earnings of foreign subsidiaries in order to support management's plans to voluntarily accelerate pay down of U.S. debt, fund distributions to shareholders, fund U.S. acquisitions and satisfy ongoing U.S. operational cash flow requirements. As a result, current and certain prior period earnings of the Company's non-U.S. subsidiaries are generally not considered to be permanently reinvested, except in jurisdictions where repatriation is either precluded or restricted by law. The Company annually estimates the available earnings, permanent reinvestment classification and the availability of and management’s intent to use alternative mechanisms for repatriation for each jurisdiction in which the Company does business. Accordingly, the Company is providing residual U.S. and foreign deferred taxes on these earnings to the extent they cannot be repatriated in a tax-free manner. As of September 30, 2014, the Company has provided residual taxes on approximately $190,497 of Fiscal 2014 distributions of foreign earnings, and $3,059 of earnings not yet taxed in the U.S. resulting in a Fiscal 2014 increase in tax expense, net of a corresponding adjustment to the Company's domestic valuation allowance, of approximately $74. As of September 30, 2013, the Company had recorded residual U.S. and foreign taxes on approximately $12,506 of Fiscal 2013 distributions and $45,735 of earnings not yet taxed in the U.S., resulting in a Fiscal 2013 increase in tax expense, net of a corresponding adjustment to the Company's domestic valuation allowance, of approximately $109. As of September 30, 2012, the Company recorded residual U.S. and foreign taxes on approximately $21,163 of Fiscal 2012 distributions of foreign earnings and $76,574 of earnings not yet taxed in the U.S. resulting in a Fiscal 2012 increase in tax expense, net of a corresponding adjustment to the Company's domestic valuation allowance, of approximately $3,278. During Fiscal 2014, $178,716 of the distributions related to one-time internal restructuring and external debt refinancing activities. Due to the U.S. valuation allowance, these activities did not result in a Fiscal 2014 tax increase. Fiscal 2013 and 2012 distributions were primarily non-cash deemed distributions under U.S. tax law. | ||||||||||
Remaining undistributed earnings of the Company’s foreign operations are approximately $351,483 at September 30, 2014, and are intended to remain permanently invested. Accordingly, no residual income taxes have been provided on those earnings at September 30, 2014. If at some future date these earnings cease to be permanently invested, the Company may be subject to U.S. income taxes and foreign withholding and other taxes on such amounts, which cannot be reasonably estimated at this time. | ||||||||||
As of September 30, 2014, the Company has U.S. federal net operating loss carryforwards (“NOLs”) of approximately $1,087,769 with a federal tax benefit of $380,719, and tax benefits related to state NOLs of $70,285. The Company has an additional $45,539 of federal and state NOLs for which benefits will be recorded to Additional paid-in capital when these carryforwards are used. These net operating loss carryforwards expire through years ending in 2034. As of September 30, 2014, the Company has foreign NOLs of approximately $106,496 which will expire beginning in the Company's fiscal year ending September 30, 2015. Certain of the foreign NOLs have indefinite carryforward periods. The Company is subject to an annual limitation on the use of its NOLs that arose prior to its emergence from bankruptcy in the fiscal year ended September 30, 2009. The Company has had multiple changes of ownership, as defined under Section 382 of the Internal Revenue Code of 1986, as amended, that subject the Company’s U.S. federal and state NOLs and other tax attributes to certain limitations. The annual limitation is based on a number of factors including the value of the Company’s stock (as defined for tax purposes) on the date of the ownership change, its net unrealized gain position on that date, the occurrence of realized gains in years subsequent to the ownership change and the effects of subsequent ownership changes (as defined for tax purposes), if any. Due to these limitations, the Company estimates, as of September 30, 2014, that $301,749 of the total U.S. federal NOLs with a federal tax benefit of $105,612 and $16,812 of the tax benefit related to state NOLs will expire unused even if the Company generates sufficient income to otherwise use all of its NOLs. In addition, separate return year limitations apply to limit the Company’s utilization of the acquired Russell Hobbs U.S. federal and state NOLs to future income of the Russell Hobbs subgroup. The Company also projects, as of September 30, 2014, that $88,769 of foreign NOLs will not be used. The Company has provided a full valuation allowance against these deferred tax assets. | ||||||||||
A valuation allowance is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets depends on the ability of the Company to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. As of September 30, 2014 and September 30, 2013, the Company’s valuation allowance, established for the tax benefit that may not be realized, totaled approximately $333,106 and $454,586, respectively. As of September 30, 2014 and September 30, 2013, approximately $299,131 and $421,743, respectively, related to U.S. net deferred tax assets, and approximately $33,975 and $32,843, respectively, related to foreign net deferred tax assets. The net decrease in the valuation allowance for deferred tax assets during Fiscal 2014 totaled approximately $121,480, of which approximately $122,612 related to a decrease in the valuation allowance against U.S. net deferred tax assets, and approximately $1,132 related to an increase in the valuation allowance against foreign net deferred tax assets. As a result of the one time internal restructuring and debt refinancing activities, the Company reversed $62,551 of U.S. valuation allowance during Fiscal 2014. As a result of the purchase of HHI Business, the Company reversed $49,848 of U.S. valuation allowance during Fiscal 2013. The reversal was attributable to $49,848 of net deferred tax liabilities recorded on the HHI Business purchase accounting balance sheet which offset other U.S. net deferred tax assets. As a result of the purchase of FURminator, the Company reversed $14,511 of U.S. valuation allowance during Fiscal 2012. The reversal was attributable to $14,511 of net deferred tax liabilities recorded on the FURminator purchase accounting balance sheet which offset other U.S. net deferred tax assets. | ||||||||||
The total amount of unrecognized tax benefits on the Company’s Consolidated Statements of Financial Position at September 30, 2014 and September 30, 2013 are $11,333 and $13,807, respectively. If recognized in the future, $7,991 of the unrecognized tax benefits as of September 30, 2014 will impact the effective tax rate and $3,342 of unrecognized tax benefits would create deferred tax assets against which the Company would have a full valuation allowance. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of September 30, 2014 and September 30, 2013 the Company had approximately $3,512 and $3,671, respectively, of accrued interest and penalties related to uncertain tax positions. The impact related to interest and penalties on the Consolidated Statement of Operations for Fiscal 2014 was a net increase to Income tax expense of $1,116. The impact related to interest and penalties on the Consolidated Statement of Operations for Fiscal 2013 was a net decrease to Income tax expense of $8. The impact related to interest and penalties on the Consolidated Statement of Operations for Fiscal 2012 was a net decrease to Income tax expense of $1,184. | ||||||||||
The following table summarizes the changes to the amount of unrecognized tax benefits for Fiscal 2014, Fiscal 2013 and Fiscal 2012: | ||||||||||
Unrecognized tax benefits at September 30, 2011 | $ | 9,013 | ||||||||
Gross increase – tax positions in prior period | 773 | |||||||||
Gross decrease – tax positions in prior period | -1,308 | |||||||||
Gross increase – tax positions in current period | 776 | |||||||||
Settlements | -1,737 | |||||||||
Lapse of statutes of limitations | -1,640 | |||||||||
Unrecognized tax benefits at September 30, 2012 | $ | 5,877 | ||||||||
Gross increase – tax positions in prior period | 9,104 | |||||||||
Gross decrease – tax positions in prior period | -327 | |||||||||
Gross increase – tax positions in current period | 516 | |||||||||
Settlements | -15 | |||||||||
Lapse of statutes of limitations | -1,348 | |||||||||
Unrecognized tax benefits at September 30, 2013 | $ | 13,807 | ||||||||
Gross increase – tax positions in prior period | 1,548 | |||||||||
Gross decrease – tax positions in prior period | -1,380 | |||||||||
Gross increase – tax positions in current period | 714 | |||||||||
Settlements | -2,515 | |||||||||
Lapse of statutes of limitations | -841 | |||||||||
Unrecognized tax benefits at September 30, 2014 | $ | 11,333 | ||||||||
The Company files income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions and is subject to ongoing examination by the various taxing authorities. The Company’s major taxing jurisdictions are the U.S., United Kingdom and Germany. In the U.S., federal tax filings for years prior to and including the Company’s fiscal year ended September 30, 2010 are closed. However, the federal NOLs from the Company’s fiscal years ended September 30, 2010 and prior are subject to Internal Revenue Service (“IRS”) examination until the year that such net operating loss carryforwards are utilized and those years are closed for audit. The Company’s fiscal years ended September 30, 2011, 2012, 2013 and 2014 remain open to examination by the IRS. Filings in various U.S. state and local jurisdictions are also subject to audit and to date no significant audit matters have arisen. | ||||||||||
As of September 30, 2014, certain of the Company’s legal entities are undergoing income tax audits. The Company cannot predict the ultimate outcome of the examinations; however, it is reasonably possible that during the next twelve months some portion of previously unrecognized tax benefits could be recognized. | ||||||||||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||
(10) EMPLOYEE BENEFIT PLANS | |||||||||||||||||||
Pension Benefits | |||||||||||||||||||
The Company has various defined benefit pension plans covering some of its employees in the United States and certain employees in other countries, primarily the United Kingdom and Germany. Plans generally provide benefits of stated amounts for each year of service. The Company funds its U.S. pension plans in accordance with the requirements of the defined benefit pension plans and, where applicable, in amounts sufficient to satisfy the minimum funding requirements of applicable laws. Additionally, in compliance with the Company’s funding policy, annual contributions to non-U.S. defined benefit plans are equal to the actuarial recommendations or statutory requirements in the respective countries. | |||||||||||||||||||
The Company also sponsors or participates in a number of other non-U.S. pension arrangements, including various retirement and termination benefit plans, some of which are covered by local law or coordinated with government-sponsored plans, which are not significant in the aggregate and therefore are not included in the information presented below. The Company also has various nonqualified deferred compensation agreements with certain of its employees. Under certain of these agreements, the Company has agreed to pay certain amounts annually for the first 15 years subsequent to retirement or to a designated beneficiary upon death. It is management’s intent that life insurance contracts owned by the Company will fund these agreements. Under the remaining agreements, the Company has agreed to pay such deferred amounts in up to 15 annual installments beginning on a date specified by the employee, subsequent to retirement or disability, or to a designated beneficiary upon death. | |||||||||||||||||||
Other Benefits | |||||||||||||||||||
Under the Rayovac postretirement plan, the Company provides certain health care and life insurance benefits to eligible retired employees. Participants earn retiree health care benefits after reaching age 40 over the next 10 succeeding years of service, and remain eligible until reaching age 65. The plan is contributory; retiree contributions have been established as a flat dollar amount with contribution rates expected to increase at the active medical trend rate. The plan is unfunded. The Company is amortizing the transition obligation over a 20-year period. | |||||||||||||||||||
The following tables provide additional information on the Company’s pension and other postretirement benefit plans: | |||||||||||||||||||
Pension and Deferred | |||||||||||||||||||
Compensation Benefits | Other Benefits | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Changes in benefit obligation | |||||||||||||||||||
Benefit obligation, beginning of year | $ | 256,142 | $ | 240,806 | $ | 403 | $ | 566 | |||||||||||
Liabilities assumed through acquisitions | — | 14,716 | — | — | |||||||||||||||
Service cost | 3,191 | 3,061 | — | 9 | |||||||||||||||
Interest cost | 10,361 | 9,886 | 18 | 22 | |||||||||||||||
Actuarial (gain) loss | 12,923 | 1,851 | 7 | -58 | |||||||||||||||
Participant contributions | 34 | 59 | — | — | |||||||||||||||
Curtailments | — | -1,507 | — | -135 | |||||||||||||||
Benefits paid | -9,694 | -15,925 | -1 | -1 | |||||||||||||||
Foreign currency exchange rate changes | -5,940 | 3,195 | — | ||||||||||||||||
Benefit obligation, end of year | $ | 267,017 | $ | 256,142 | $ | 427 | $ | 403 | |||||||||||
Changes in plan assets | |||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 175,484 | $ | 153,927 | $ | — | $ | — | |||||||||||
Assets acquired through acquisitions | — | 6,680 | — | — | |||||||||||||||
Actual return on plan assets | 12,487 | 16,759 | — | — | |||||||||||||||
Employer contributions | 12,985 | 12,316 | 1 | 1 | |||||||||||||||
Employee contributions | 34 | 59 | — | — | |||||||||||||||
Benefits paid | -9,694 | -15,925 | -1 | -1 | |||||||||||||||
Foreign currency exchange rate changes | -2,434 | 1,668 | — | ||||||||||||||||
Fair value of plan assets, end of year | $ | 188,862 | $ | 175,484 | $ | — | $ | — | |||||||||||
Accrued Benefit Cost | $ | -78,155 | $ | -80,658 | $ | -427 | $ | -403 | |||||||||||
Range of assumptions: | |||||||||||||||||||
Discount rate | 2.0% | - | 13.5% | 1.8% | - | 13.0% | 4.7% | 4.7% | |||||||||||
Expected return on plan assets | 2.0% | - | 7.5% | 3.6% | - | 7.8% | N/A | N/A | |||||||||||
Rate of compensation increase | 2.3% | - | 5.5% | 2.3% | - | 5.5% | N/A | N/A | |||||||||||
The net underfunded status as of September 30, 2014 and September 30, 2013 of $78,155 and $80,658, respectively, is recognized in the accompanying Consolidated Statements of Financial Position within Employee benefit obligations, net of current portion. Included in the Company’s AOCI as of September 30, 2014 and September 30, 2013 are unrecognized net losses of $32,797, net of tax benefit of $797 and $29,180, net of tax expense of $817, respectively, which have not yet been recognized as components of net periodic pension cost. The net loss in AOCI expected to be recognized during Fiscal 2015 is $1,515. | |||||||||||||||||||
At September 30, 2014, the Company’s total pension and deferred compensation benefit obligation of $267,017 consisted of $70,892 associated with U.S. plans and $196,125 associated with international plans. The fair value of the Company’s pension and deferred compensation benefit assets of $188,862 consisted of $62,404 associated with U.S. plans and $126,458 associated with international plans. The weighted average discount rate used for the Company’s domestic plans was approximately 4.2% and approximately 3.3% for its international plans. The weighted average expected return on plan assets used for the Company’s domestic plans was approximately 7.5% and approximately 4.3% for its international plans. | |||||||||||||||||||
At September 30, 2013, the Company’s total pension and deferred compensation benefit obligation of $256,142 consisted of $66,895 associated with U.S. plans and $189,247 associated with international plans. The fair value of the Company’s pension and deferred compensation benefit assets of $175,484 consisted of $58,458 associated with U.S. plans and $117,026 associated with international plans. The weighted average discount rate used for the Company’s domestic plans was approximately 3.8% and approximately 3.9% for its international plans. The weighted average expected return on plan assets used for the Company’s domestic plans was approximately 7.8% and approximately 4.7% for its international plans. | |||||||||||||||||||
Net periodic benefit cost for Fiscal 2014, Fiscal 2013 and Fiscal 2012 included the following components: | |||||||||||||||||||
Pension and Deferred | |||||||||||||||||||
Compensation Benefits | Other Benefits | ||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||
Service cost | $ | 3,191 | $ | 3,061 | $ | 2,048 | $ | — | $ | 9 | $ | 12 | |||||||
Interest cost | 10,361 | 9,886 | 10,593 | 18 | 22 | 27 | |||||||||||||
Expected return on assets | -9,894 | -8,667 | -8,225 | — | — | — | |||||||||||||
Amortization of prior year service cost | — | — | 72 | — | — | — | |||||||||||||
Curtailment gain | -93 | -752 | — | — | — | — | |||||||||||||
Recognized net actuarial (gain) loss | 1,461 | 2,112 | 828 | — | 8 | -54 | |||||||||||||
Net periodic benefit cost (benefit) | $ | 5,026 | $ | 5,640 | $ | 5,316 | $ | 18 | $ | 39 | $ | -15 | |||||||
The discount rate is used to calculate the projected benefit obligation. The discount rate used is based on the rate of return on government bonds as well as current market conditions of the respective countries where the plans are established. | |||||||||||||||||||
Below is a summary allocation of all pension plan assets as of the measurement date. | |||||||||||||||||||
Weighted Average | |||||||||||||||||||
Allocation | |||||||||||||||||||
Target | Actual | ||||||||||||||||||
Asset Category | 2014 | 2014 | 2013 | ||||||||||||||||
Equity Securities | 0 | - | 60 | % | 25 | % | 47 | % | |||||||||||
Fixed Income Securities | 0 | - | 40 | % | 27 | % | 21 | % | |||||||||||
Other | 0 | - | 100 | % | 48 | % | 32 | % | |||||||||||
Total | 100% | 100 | % | 100 | % | ||||||||||||||
The weighted average expected long-term rate of return on total assets is 5.4%. | |||||||||||||||||||
The Company has established formal investment policies for the assets associated with these plans. Policy objectives include maximizing long-term return at acceptable risk levels, diversifying among asset classes, if appropriate, and among investment managers, as well as establishing relevant risk parameters within each asset class. Specific asset class targets are based on the results of periodic asset/liability studies. The investment policies permit variances from the targets within certain parameters. The weighted average expected long-term rate of return is based on a Fiscal 2014 review of such rates. The plan assets currently do not include holdings of SB Holdings common stock. | |||||||||||||||||||
The Company’s pension plan assets have a diversified portfolio of investments in U.S. and foreign equity and debt securities. In addition, the plan assets are invested in real estate mutual funds, life insurance contracts and private equity funds. | |||||||||||||||||||
The following table sets forth the fair value of the Company’s pension plan assets as of September 30, 2014 segregated by level within the fair value hierarchy. See Note 8, “Fair Value of Financial Instruments,” for discussion of the fair value hierarchy and fair value principles: | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||
Equity Securities | |||||||||||||||||||
U.S. equity securities | $ | 19,949 | $ | 7,098 | $ | — | $ | 27,047 | |||||||||||
Foreign equity securities | 11,100 | 7,551 | — | 18,651 | |||||||||||||||
Debt Securities | |||||||||||||||||||
U.S. bonds | 4,026 | 15,196 | — | 19,222 | |||||||||||||||
Foreign bonds | 3,131 | 20,463 | — | 23,594 | |||||||||||||||
Foreign government bonds | — | 8,565 | — | 8,565 | |||||||||||||||
Real estate | 1,254 | 5,889 | — | 7,143 | |||||||||||||||
Life insurance contracts | — | 37,734 | — | 37,734 | |||||||||||||||
Other | — | 38,688 | — | 38,688 | |||||||||||||||
Foreign cash & cash equivalents | 6,368 | 1,850 | — | 8,218 | |||||||||||||||
Total Defined Benefit Plan Assets | $ | 45,828 | $ | 143,034 | $ | — | $ | 188,862 | |||||||||||
The following table sets forth the fair value of the Company’s pension plan assets as of September 30, 2013 segregated by | |||||||||||||||||||
level within the fair value hierarchy. | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||
Equity Securities | |||||||||||||||||||
U.S. equity securities | $ | 18,497 | $ | 15,458 | $ | — | $ | 33,955 | |||||||||||
Foreign equity securities | 10,792 | 37,641 | — | 48,433 | |||||||||||||||
Debt Securities | |||||||||||||||||||
U.S. bonds | 2,279 | 15,578 | — | 17,857 | |||||||||||||||
Foreign bonds | — | 10,688 | — | 10,688 | |||||||||||||||
Foreign government bonds | — | 7,994 | — | 7,994 | |||||||||||||||
Real estate | 1,204 | 5,391 | — | 6,595 | |||||||||||||||
Life insurance contracts | — | 37,690 | — | 37,690 | |||||||||||||||
Other | — | 355 | — | 355 | |||||||||||||||
Foreign cash & cash equivalents | 6,658 | 5,259 | — | 11,917 | |||||||||||||||
Total Defined Benefit Plan Assets | $ | 39,430 | $ | 136,054 | $ | — | $ | 175,484 | |||||||||||
The Company’s expected future pension benefit payments for Fiscal 2015 through its fiscal year 2024 are as follows: | |||||||||||||||||||
2015 | $ | 12,288 | |||||||||||||||||
2016 | 10,548 | ||||||||||||||||||
2017 | 10,743 | ||||||||||||||||||
2018 | 11,244 | ||||||||||||||||||
2019 | 12,275 | ||||||||||||||||||
2020-2024 | 65,315 | ||||||||||||||||||
The Company sponsors a defined contribution pension plan for its domestic salaried employees, which allows participants to make contributions by salary reduction pursuant to Section 401(k) of the Internal Revenue Code. The Company also sponsors defined contribution pension plans for employees of certain foreign subsidiaries. Company contributions charged to operations, including discretionary amounts, for Fiscal 2014, Fiscal 2013 and Fiscal 2012 were $12,318, $11,095 and $1,935, respectively. | |||||||||||||||||||
Segment_Information
Segment Information | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Segment Information [Abstract] | ' | |||||||||
Segment Information | ' | |||||||||
(11) SEGMENT INFORMATION | ||||||||||
The Company manages its business in four vertically integrated, product-focused reporting segments: (i) Global Batteries & Appliances; (ii) Global Pet Supplies; (iii) Home and Garden; and (iv) Hardware & Home Improvement. | ||||||||||
The results of the HHI Business are included in the Company's Consolidated Statement of Operations as of and subsequent to December 17, 2012. The results of TLM Taiwan are included in the Company's Consolidated Statement of Operations as of and subsequent to its acquisition on April 8, 2013. The financial results related to the HHI Business are reported as a separate business segment, Hardware & Home Improvement. | ||||||||||
Global strategic initiatives and financial objectives for each reportable segment are determined at the corporate level. Each reportable segment is responsible for implementing defined strategic initiatives and achieving certain financial objectives, and has a general manager responsible for the sales and marketing initiatives and financial results for product lines within that segment. | ||||||||||
Net sales and Cost of goods sold to other business segments have been eliminated. The gross contribution of intersegment sales is included in the segment selling the product to the external customer. Segment net sales are based upon the segment from which the product is shipped. | ||||||||||
The operating segment profits do not include restructuring and related charges, acquisition and integration related charges, impairment charges, interest expense, interest income and income tax expense. Expenses associated with certain general and administrative functions necessary to reflect the operating segments on a standalone basis have also been excluded in the determination of reportable segment profits. Corporate expenses primarily include general and administrative expenses and the costs of global long-term incentive compensation plans which are evaluated on a consolidated basis and not allocated to the Company’s operating segments. All depreciation and amortization included in income from operations is related to operating segments or corporate expense. Costs are identified to operating segments or corporate expense according to the function of each cost center. | ||||||||||
All capital expenditures are related to operating segments. Variable allocations of assets are not made for segment reporting. | ||||||||||
Segment information for the Company for Fiscal 2014, Fiscal 2013 and Fiscal 2012, is as follows: | ||||||||||
Net sales to external customers | ||||||||||
2014 | 2013 | 2012 | ||||||||
Consumer batteries | $ | 957,837 | $ | 931,647 | $ | 948,652 | ||||
Small appliances | 730,783 | 740,289 | 771,568 | |||||||
Electric shaving and grooming | 278,315 | 276,783 | 279,468 | |||||||
Electric personal care | 263,775 | 254,858 | 250,251 | |||||||
Global Batteries & Appliances | 2,230,710 | 2,203,577 | 2,249,939 | |||||||
Hardware & Home Improvement | 1,165,996 | 869,631 | — | |||||||
Global Pet Supplies | 600,537 | 621,834 | 615,508 | |||||||
Home and Garden | 431,866 | 390,539 | 386,988 | |||||||
Total segments | $ | 4,429,109 | $ | 4,085,581 | $ | 3,252,435 | ||||
Depreciation and amortization | ||||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 73,077 | $ | 67,229 | $ | 63,618 | ||||
Hardware & Home Improvement | 40,388 | 31,364 | — | |||||||
Global Pet Supplies | 31,565 | 29,615 | 27,702 | |||||||
Home and Garden Business | 12,600 | 11,685 | 13,296 | |||||||
Total segments | 157,630 | 139,893 | 104,616 | |||||||
Corporate | — | — | — | |||||||
Total Depreciation and amortization | $ | 157,630 | $ | 139,893 | $ | 104,616 | ||||
Segment profit | ||||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 256,524 | $ | 237,544 | $ | 244,442 | ||||
Hardware & Home Improvement | 172,217 | 88,668 | — | |||||||
Global Pet Supplies | 82,371 | 91,080 | 85,866 | |||||||
Home and Garden | 89,255 | 78,483 | 73,609 | |||||||
Total segments | 600,367 | 495,775 | 403,917 | |||||||
Corporate expense | 75,437 | 62,141 | 51,514 | |||||||
Acquisition and integration related charges | 20,102 | 48,445 | 31,066 | |||||||
Restructuring and related charges | 22,895 | 34,012 | 19,591 | |||||||
Interest expense | 202,118 | 375,625 | 191,911 | |||||||
Other expense, net | 6,286 | 3,506 | 878 | |||||||
Income (loss) from continuing operations before income taxes | $ | 273,529 | $ | -27,954 | $ | 108,957 | ||||
Segment total assets | ||||||||||
September 30, | ||||||||||
2014 | 2013 | |||||||||
Global Batteries & Appliances | $ | 2,152,003 | $ | 2,360,733 | ||||||
Hardware & Home Improvement | 1,629,020 | 1,735,629 | ||||||||
Global Pet Supplies | 890,372 | 948,832 | ||||||||
Home and Garden | 526,596 | 500,559 | ||||||||
Total segment assets | 5,197,991 | 5,545,753 | ||||||||
Corporate | 315,038 | 80,920 | ||||||||
Total assets at period end | $ | 5,513,029 | $ | 5,626,673 | ||||||
Capital expenditures | ||||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 40,347 | $ | 47,928 | $ | 36,271 | ||||
Hardware & Home Improvement | 21,167 | 23,385 | — | |||||||
Global Pet Supplies | 5,267 | 8,268 | 7,447 | |||||||
Home and Garden Business | 6,566 | 2,395 | 3,091 | |||||||
Total segments | 73,347 | 81,976 | 46,809 | |||||||
Corporate | — | — | — | |||||||
Total Capital expenditures | $ | 73,347 | $ | 81,976 | $ | 46,809 | ||||
Geographic Disclosures—Net sales to external customers | ||||||||||
2014 | 2013 | 2012 | ||||||||
United States | $ | 2,640,698 | $ | 2,411,409 | $ | 1,772,138 | ||||
Outside the United States | 1,788,411 | 1,674,172 | 1,480,297 | |||||||
Total net sales to external customers | $ | 4,429,109 | $ | 4,085,581 | $ | 3,252,435 | ||||
Geographic Disclosures—Property, plant and equipment, net | ||||||||||
September 30, | ||||||||||
2014 | 2013 | |||||||||
United States | $ | 253,234 | $ | 230,866 | ||||||
Outside the United States | 175,643 | 181,685 | ||||||||
Long-lived assets at year end | $ | 428,877 | $ | 412,551 | ||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
(12) COMMITMENTS AND CONTINGENCIES | ||||
The Company has provided for the estimated costs associated with environmental remediation activities at some of its current and former manufacturing sites. The Company believes that any additional liability in excess of the amounts provided of approximately $4,615, which may result from resolution of these matters, will not have a material adverse effect on the financial condition, results of operations or cash flows of the Company. | ||||
The Company is a defendant in various litigation matters generally arising out of the ordinary course of business. The Company does not believe that any of the matters or proceedings presently pending will have a material adverse effect on its results of operations, financial condition, liquidity or cash flows. | ||||
The Company’s minimum rent payments under operating leases are recognized on a straight-line basis over the term of the leases. Future minimum rental commitments under non-cancelable operating leases, principally pertaining to land, buildings and equipment, are as follows: | ||||
2015 | $ | 37,202 | ||
2016 | 33,246 | |||
2017 | 28,373 | |||
2018 | 19,034 | |||
2019 | 14,361 | |||
Thereafter | 31,872 | |||
Total minimum lease payments | $ | 164,088 | ||
All of the leases expire between October 2014 and July 2024. The Company’s total rent expense was $40,775, $41,829 and $34,327 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. | ||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Related Party Transactions [Abstract] | ' | |||
Related Party Transactions | ' | |||
(13) RELATED PARTY TRANSACTIONS | ||||
Merger Agreement and Registration Rights Agreement | ||||
On June 16, 2010 (the “Closing Date”), SB Holdings completed the merger with Russell Hobbs, Inc. ("Russell Hobbs")(the "Merger”) pursuant to the Agreement and Plan of Merger, dated as of February 9, 2010, as amended on March 1, 2010, March 26, 2010 and April 30, 2010, by and among SB Holdings, Russell Hobbs, Spectrum Brands, Battery Merger Corp. and Grill Merger Corp. (the “Merger Agreement”). In connection with the Merger, the Harbinger Parties and SB Holdings entered into a stockholder agreement, dated February 9, 2010 (the “Stockholder Agreement”), which provides for certain protective provisions in favor of minority stockholders and provides certain rights and imposes certain obligations on the Harbinger Parties, including: | ||||
· | for so long as the Harbinger Parties and their affiliates beneficially own 40% or more of the outstanding voting securities of SB Holdings, the Harbinger Parties and the Company will cooperate to ensure, to the greatest extent possible, the continuation of the structure of the SB Holdings board of directors as described in the Stockholder Agreement; | |||
· | the Harbinger Parties will not effect any transfer of equity securities of SB Holdings to any person that would result in such person and its affiliates owning 40% or more of the outstanding voting securities of SB Holdings, unless specified conditions are met; and | |||
· | the Harbinger Parties will be granted certain access and informational rights with respect to SB Holdings and its subsidiaries. | |||
Pursuant to a joinder to the Stockholder Agreement entered into by the Harbinger Parties and Harbinger Group, Inc. (“HRG”), upon consummation of the Share Exchange, HRG became a party to the Stockholder Agreement, and is subject to all of the covenants, terms and conditions of the Stockholder Agreement to the same extent as the Harbinger Parties were bound thereunder prior to giving effect to the Share Exchange. | ||||
Certain provisions of the Stockholder Agreement terminate on the date on which the Harbinger Parties or HRG no longer constitutes a Significant Stockholder (as defined in the Stockholder Agreement). The Stockholder Agreement terminates when any person (including the Harbinger Parties or HRG) acquires 90% or more of the outstanding voting securities of SB Holdings. | ||||
Also in connection with the Merger, the Harbinger Parties and SB Holdings entered into a registration rights agreement, dated as of February 9, 2010 (the “SB Holdings Registration Rights Agreement”), pursuant to which the Harbinger Parties have, among other things and subject to the terms and conditions set forth therein, certain demand and so-called “piggy back” registration rights with respect to their shares of SB Holdings common stock. On September 10, 2010, the Harbinger Parties and HRG entered into a joinder to the SB Holdings Registration Rights Agreement, pursuant to which, effective upon the consummation of the Share Exchange, HRG became a party to the SB Holdings Registration Rights Agreement, entitled to the rights and subject to the obligations of a holder thereunder. | ||||
Restructuring_And_Related_Char
Restructuring And Related Charges | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Restructuring And Related Charges [Abstract] | ' | |||||||||||||||
Restructuring And Related Charges | ' | |||||||||||||||
(14) RESTRUCTURING AND RELATED CHARGES | ||||||||||||||||
The Company reports restructuring and related charges associated with manufacturing and related initiatives in Cost of goods sold. Restructuring and related charges reflected in Cost of goods sold include, but are not limited to, termination, compensation and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives, and other costs directly related to the restructuring or integration initiatives implemented. | ||||||||||||||||
The Company reports restructuring and related charges associated with administrative functions, such as initiatives impacting sales, marketing, distribution, or other non-manufacturing functions, in Operating expenses. Restructuring and related charges reflected in Operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the functional areas described above, and other costs directly related to the initiatives. | ||||||||||||||||
The following table summarizes restructuring and related charges incurred by segment for Fiscal 2014, Fiscal 2013 and Fiscal 2012: | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Cost of goods sold: | ||||||||||||||||
Global Batteries & Appliances | $ | 648 | $ | 1,143 | $ | 5,094 | ||||||||||
Hardware & Home Improvement | 2,641 | 6,246 | — | |||||||||||||
Global Pet Supplies | 424 | 2,595 | 4,741 | |||||||||||||
Total restructuring and related charges in cost of goods sold | $ | 3,713 | $ | 9,984 | $ | 9,835 | ||||||||||
Operating expenses: | ||||||||||||||||
Global Batteries & Appliances | $ | 10,458 | $ | 13,627 | $ | 2,487 | ||||||||||
Hardware & Home Improvement | 5,628 | — | — | |||||||||||||
Global Pet Supplies | 2,563 | 8,556 | 5,395 | |||||||||||||
Home and Garden | — | 598 | 912 | |||||||||||||
Corporate | 533 | 1,247 | 962 | |||||||||||||
Total restructuring and related charges in operating expenses | $ | 19,182 | $ | 24,028 | $ | 9,756 | ||||||||||
Total restructuring and related charges | $ | 22,895 | $ | 34,012 | $ | 19,591 | ||||||||||
The following table summarizes restructuring and related charges incurred by type of charge: | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Cost of goods sold: | ||||||||||||||||
Global Expense Rationalization initiatives: | ||||||||||||||||
Termination benefits | $ | 971 | $ | 2 | $ | — | ||||||||||
Other associated costs | 37 | — | — | |||||||||||||
Global Cost Reduction initiatives: | ||||||||||||||||
Termination benefits | 2 | 228 | 2,941 | |||||||||||||
Other associated costs | 62 | 3,330 | 6,894 | |||||||||||||
Other restructuring initiatives: | ||||||||||||||||
Termination benefits | — | 146 | — | |||||||||||||
Other associated costs | 2,641 | 6,278 | — | |||||||||||||
Total included in cost of goods sold | $ | 3,713 | $ | 9,984 | $ | 9,835 | ||||||||||
Costs included in operating expenses: | ||||||||||||||||
HHI Business Rationalization initiatives: | ||||||||||||||||
Termination benefits | $ | 4,511 | $ | — | $ | — | ||||||||||
Global Expense Rationalization initiatives: | ||||||||||||||||
Termination benefits | 5,497 | 10,259 | — | |||||||||||||
Other associated costs | 6,868 | 1,056 | — | |||||||||||||
Global Cost Reduction initiatives: | ||||||||||||||||
Termination benefits | 244 | 6,351 | 3,079 | |||||||||||||
Other associated costs | 1,010 | 6,443 | 5,776 | |||||||||||||
Other restructuring initiatives: | ||||||||||||||||
Other associated costs | 1,052 | -81 | 901 | |||||||||||||
Total included in operating expenses | $ | 19,182 | $ | 24,028 | $ | 9,756 | ||||||||||
Total restructuring and related charges | $ | 22,895 | $ | 34,012 | $ | 19,591 | ||||||||||
HHI Business Rationalization Initiatives | ||||||||||||||||
During the fourth quarter of Fiscal 2014, the Company implemented a series of initiatives throughout the Hardware & Home Improvement business segment to reduce operating costs and exit low margin business outside the U.S. (the “HHI Business Rationalization Initiatives”). These initiatives include headcount reductions, the exit of certain facilities and the sale of a portion of the Hardware & Home Improvement operations in Canada. Costs associated with these initiatives, which are expected to be incurred through September 30, 2016, are projected to total approximately $9,000. | ||||||||||||||||
The Company recorded $4,511 of pretax restructuring and related charges during Fiscal 2014 related to the HHI Business Rationalization Initiatives. | ||||||||||||||||
Global Expense Rationalization Initiatives Summary | ||||||||||||||||
During the third quarter of the fiscal year ended September 30, 2013, the Company implemented a series of initiatives throughout the Company to reduce operating costs (the “Global Expense Rationalization Initiatives”). These initiatives consist of headcount reductions in the Global Batteries & Appliances and Global Pet Supplies segments and in Corporate. Costs associated with these initiatives, which are expected to be incurred through September 30, 2015, are currently projected to total approximately $46,500. | ||||||||||||||||
The Company recorded $13,373 and $11,317 of pretax restructuring and related charges during Fiscal 2014 and Fiscal 2013 and no pretax restructuring and related charges during Fiscal 2012, related to the Global Expense Rationalization Initiatives. | ||||||||||||||||
The following table summarizes the remaining accrual balance associated with the Global Expense Rationalization Initiatives and the activity during Fiscal 2014: | ||||||||||||||||
Termination | Other | |||||||||||||||
Benefits | Costs | Total | ||||||||||||||
Accrual balance at September 30, 2013 | $ | 7,320 | $ | -35 | $ | 7,285 | ||||||||||
Provisions | 3,462 | 1,490 | 4,952 | |||||||||||||
Cash expenditures | -7,041 | — | -7,041 | |||||||||||||
Non-cash items | 303 | -26 | 277 | |||||||||||||
Accrual balance at September 30, 2014 | $ | 4,044 | $ | 1,429 | $ | 5,473 | ||||||||||
Expensed as incurred (A) | $ | 3,006 | $ | 5,415 | $ | 8,421 | ||||||||||
_____________________________ | ||||||||||||||||
(A) | Consists of amounts not impacting the accrual for restructuring and related charges. | |||||||||||||||
The following table summarizes the expenses incurred during Fiscal 2014, the cumulative amount incurred to date and the total future expected costs to be incurred associated with the Global Expense Rationalization Initiatives by operating segment: | ||||||||||||||||
Global | ||||||||||||||||
Batteries & | Global Pet | |||||||||||||||
Appliances | Supplies | Corporate | Total | |||||||||||||
Restructuring and related charges during fiscal 2014 | $ | 11,072 | $ | 1,768 | $ | 533 | $ | 13,373 | ||||||||
Restructuring and related charges since initiative inception | $ | 21,142 | $ | 1,768 | $ | 1,781 | $ | 24,691 | ||||||||
Total future restructuring and related charges expected | $ | 13,483 | $ | 5,748 | $ | 2,495 | $ | 21,726 | ||||||||
Global Cost Reduction Initiatives Summary | ||||||||||||||||
During the fiscal year ended September 30, 2009, the Company implemented a series of initiatives within the Global Batteries & Appliances segment, the Global Pet Supplies segment and the Home and Garden Business segment to reduce operating costs, and to evaluate opportunities to improve the Company’s capital structure (the “Global Cost Reduction Initiatives”). These initiatives included headcount reductions and the exit of certain facilities within each of these segments. These initiatives also included consultation, legal and accounting fees related to the evaluation of the Company’s capital structure. Costs associated with these initiatives, which are expected to be incurred through January 31, 2015, are projected to total approximately $105,000. | ||||||||||||||||
The Company recorded $1,318, $16,352 and $18,690 of pretax restructuring and related charges during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively, related to the Global Cost Reduction Initiatives. | ||||||||||||||||
The following table summarizes the remaining accrual balance associated with the Global Cost Reduction Initiatives and the activity during Fiscal 2014: | ||||||||||||||||
Termination | Other | |||||||||||||||
Benefits | Costs | Total | ||||||||||||||
Accrual balance at September 30, 2013 | $ | 4,927 | $ | 424 | $ | 5,351 | ||||||||||
Provisions | 232 | 2 | 234 | |||||||||||||
Cash expenditures | -3,541 | -741 | -4,282 | |||||||||||||
Non-cash items | -289 | 475 | 186 | |||||||||||||
Accrual balance at September 30, 2014 | $ | 1,329 | $ | 160 | $ | 1,489 | ||||||||||
Expensed as incurred (A) | $ | 17 | $ | 1,067 | $ | 1,084 | ||||||||||
______________________________ | ||||||||||||||||
(A) | Consists of amounts not impacting the accrual for restructuring and related charges. | |||||||||||||||
The following table summarizes the expenses incurred during Fiscal 2014, the cumulative amount incurred to date and the total future expected costs to be incurred associated with the Global Cost Reduction Initiatives by operating segment: | ||||||||||||||||
Global | ||||||||||||||||
Batteries & | Global Pet | Home and | ||||||||||||||
Appliances | Supplies | Garden | Corporate | Total | ||||||||||||
Restructuring and related charges during fiscal 2014 | $ | 99 | $ | 1,219 | $ | — | $ | — | $ | 1,318 | ||||||
Restructuring and related charges since initiative inception | $ | 25,512 | $ | 49,368 | $ | 18,219 | $ | 7,591 | $ | 100,690 | ||||||
Total future restructuring and related charges expected | $ | 767 | $ | 3,618 | $ | — | $ | — | $ | 4,385 | ||||||
The Company recorded $3,759 and $6,228 of restructuring and related charges during Fiscal 2014 and Fiscal 2013 and no restructuring and related charges during Fiscal 2012, related to initiatives implemented by the HHI Business prior to the Company's acquisition on December 17, 2012. | ||||||||||||||||
In connection with other restructuring efforts, the Company recorded $(66), $115 and $901 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. | ||||||||||||||||
Acquisitions
Acquisitions | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Acquisitions [Abstract] | ' | |||||||
Acquisitions | ' | |||||||
(15) ACQUISITIONS | ||||||||
In accordance with ASC Topic 805, “Business Combinations” (“ASC 805”), the Company accounts for acquisitions by applying the acquisition method of accounting. The acquisition method of accounting requires, among other things, that the assets acquired and liabilities assumed in a business combination be measured at their fair values as of the closing date of the acquisition. | ||||||||
HHI Business | ||||||||
On December 17, 2012, the Company completed the cash acquisition of the HHI Business from Stanley Black & Decker. A portion of the HHI Business, consisting of the purchase of certain assets of TLM Taiwan, closed on April 8, 2013. The HHI Business is a major manufacturer and supplier of residential locksets, residential builders' hardware and faucets with a portfolio of recognized brand names, including Kwikset, Weiser, Baldwin, National Hardware, Stanley and Pfister, as well as patented technologies such as the SmartKey, a re-keyable lockset technology, and Smart Code Home Connect. Customers of the HHI Business include 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. | |||||||
Liquid Fence | ||||||||
On January 2, 2014, the Company completed the acquisition of Liquid Fence, a producer of animal repellents. The value of the consideration given in this acquisition, net of working capital adjustments, was $35,845 and is not significant individually, therefore, pro forma results are not presented. | ||||||||
The following table summarizes the consideration paid for Liquid Fence: | ||||||||
Cash paid to seller at close | $ | 24,800 | ||||||
Promissory note due to seller | 9,500 | |||||||
Contingent consideration | 1,500 | |||||||
Working capital adjustment | 45 | |||||||
Purchase price | $ | 35,845 | ||||||
The promissory note will be paid in four semi-annual installments over 24 months from the close of the transaction. | ||||||||
The results of Liquid Fence's operations since January 2, 2014 are included in the Company’s Consolidated Statements of Operations and are reported as part of the Home and Garden segment. | ||||||||
Valuation of Assets and Liabilities | ||||||||
The assets acquired and liabilities assumed in the Liquid Fence acquisition have been measured at their fair values at January 2, 2014 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team, and is expected to be deductible for income tax purposes. The fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation. The acquisition accounting for Liquid Fence has been finalized. | ||||||||
The fair values recorded for the assets acquired and liabilities assumed for Liquid Fence are as follows: | ||||||||
Cash | $ | 46 | ||||||
Accounts receivable | 1,152 | |||||||
Inventories | 2,188 | |||||||
Property, plant and equipment, net | 59 | |||||||
Intangible assets | 26,900 | |||||||
Total assets acquired | $ | 30,345 | ||||||
Total liabilities assumed | 1,588 | |||||||
Total identifiable net assets less goodwill | 28,757 | |||||||
Goodwill | 7,088 | |||||||
Total identifiable net assets | $ | 35,845 | ||||||
Pre-Acquisition Contingencies Assumed | ||||||||
The Company has evaluated and continues to evaluate pre-acquisition contingencies relating to Liquid Fence that existed as of the acquisition date. Based on the evaluation to date, the Company has determined that certain pre-acquisition contingencies are probable in nature and estimable as of the acquisition date. Accordingly, the Company has recorded its best estimates for these contingencies as part of the purchase accounting for Liquid Fence. Further adjustments to pre-acquisition contingency amounts will be reflected in the Company's results of operations. | ||||||||
Valuation Adjustments | ||||||||
The Company performed a valuation of the acquired trade names, proprietary technology assets, customer relationships and a contingent earn-out liability at January 2, 2014. A summary of the significant key inputs is as follows: | ||||||||
· | The Company valued the technology assets related to formulas and processes using the income approach, specifically the excess earnings method. Under this method, the asset value was determined by estimating the earnings attributable to the technology assets, adjusted for contributory asset charges. In estimating the fair value of the technology, Net sales and associated earnings were forecasted and adjusted for a technical obsolescence factor to isolate the forecasted sales and earnings attributable to the acquired technology assets. The forecasted technology earnings were discounted to present value to arrive at the concluded fair value. The Company anticipates using the technology asset over a useful life of 17 years which is generally determined by assessing the time period in which substantially all of the discounted cash flows are expected to be generated. The technology asset was valued at approximately $20,500 under this approach. | |||||||
· | The Company valued an indefinite-lived trade name using the income approach, specifically the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would have to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of Liquid Fence, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and trade names. Trade name and trademarks were valued at $5,100 under this approach. | |||||||
· | The Company valued customer relationships using the distributor approach. Under this method, the asset value was determined by estimating the hypothetical earnings before interest and taxes (“EBIT”) that a comparable distributor would earn, further adjusted for contributory asset charges. In determining the fair value of the customer relationships, the distributor approach values the intangible asset at the present value of the incremental after-tax cash flows. The customer relationships were valued at $1,300 under this approach and will be amortized over 15 years. | |||||||
The Company valued a contingent liability related to additional payments that may be made to the selling company. This liability was calculated based on the probability weighted present value of expected payments. This contingent liability is based on the achievement of specific revenue milestones through both January 31, 2015 and January 31, 2016. The contingent liability was valued at $1,500 under this approach. | ||||||||
Quarterly_Results
Quarterly Results | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Quarterly Results [Abstract] | ' | ||||||||||||
Quarterly Results | ' | ||||||||||||
(16) QUARTERLY RESULTS (UNAUDITED) | |||||||||||||
Fiscal 2014: | |||||||||||||
Quarter Ended | |||||||||||||
30-Sep-14 | 29-Jun-14 | 30-Mar-14 | 29-Dec-13 | ||||||||||
Net sales | $ | 1,178,312 | $ | 1,128,509 | $ | 1,021,688 | $ | 1,100,600 | |||||
Gross profit | 411,001 | 417,037 | 359,624 | 381,207 | |||||||||
Net income attributable to controlling interest | 47,937 | 78,055 | 33,811 | 54,289 | |||||||||
Basic net income per common share attributable to controlling interest | $ | 0.91 | $ | 1.48 | $ | 0.64 | $ | 1.04 | |||||
Diluted net income per common share attributable to controlling interest | $ | 0.90 | $ | 1.47 | $ | 0.64 | $ | 1.03 | |||||
Fiscal 2013: | |||||||||||||
Quarter Ended | |||||||||||||
30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 30-Dec-12 | ||||||||||
Net sales | $ | 1,137,732 | $ | 1,089,825 | $ | 987,756 | $ | 870,268 | |||||
Gross profit | 396,493 | 382,759 | 322,904 | 288,156 | |||||||||
Net income (loss) attributable to controlling interest | -36,705 | 36,130 | -41,232 | -13,439 | |||||||||
Basic net income (loss) per common share attributable to controlling interest | $ | -0.7 | $ | 0.69 | $ | -0.79 | $ | -0.26 | |||||
Diluted net (loss) income per common share attributable to controlling interest | $ | -0.7 | $ | 0.69 | $ | -0.79 | $ | -0.26 | |||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
(17) SUBSEQUENT EVENTS | |
ASC 855, “Subsequent Events” (“ASC 855”), establishes general standards of accounting and disclosure of events that occur after the balance sheet date but before financial statements are issued or available to be issued. ASC 855 requires the Company to evaluate events that occur after the balance date through the date of the Company’s financial statements are issued, and to determine whether adjustments to or additional disclosures in the financial statements are necessary. The Company has evaluated subsequent events through the date these financial statements were issued. | |
On October 2, 2014, the Company completed a $31,775 cash acquisition of Tell Manufacturing, Inc. (“Tell”), a leading manufacturer and distributor of commercial doors, locks and hardware. The Company will account for the acquisition of Tell in accordance with ASC 805. The Company is in the process of completing the preliminary purchase accounting. | |
On September 23, 2014, the Company entered into a definitive agreement to acquire Procter & Gamble’s European pet food business, consisting of premium brands for dogs and cats. The acquisition is expected to close in the second quarter of Fiscal 2015. The Company will account for this acquisition in accordance with ASC 805. | |
On November 3, 2014, the Company announced an expansion to its Global Expense Rationalization Initiatives, which was initially implemented in Fiscal 2013. These expanded initiatives consist of headcount reductions in the Global Batteries & Appliances and Global Pet Supplies segments and in Corporate, consistent with the original announcement in Fiscal 2013. Costs associated with the expanded initiatives, which are expected to be incurred through September 30, 2015, are currently projected to total approximately $46,500, which include costs associated with the Global Expense Rationalization Initiatives announced in Fiscal 2013. | |
Schedule_II_Valuation_and_Qual
Schedule II Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Schedule II Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||
Schedule II Valuation and Qualifying Accounts | ' | |||||||||||||||
SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES | ||||||||||||||||
SCHEDULE II | ||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||
For the years ended September 30, 2014, September 30, 2013 and September 30, 2012 | ||||||||||||||||
(In thousands) | ||||||||||||||||
Column A | Column B | Column C Additions | Column D Deductions | Column E | ||||||||||||
Balance at | Charged to | Balance at | ||||||||||||||
Beginning | Costs and | Other | End of | |||||||||||||
Descriptions | of Period | Expenses | Deductions | Adjustments | Period | |||||||||||
September 30, 2014: | ||||||||||||||||
Accounts receivable allowances | $ | 37,376 | $ | 7,404 | $ | -2,409 | $ | 6,270 | $ | 48,641 | ||||||
September 30, 2013: | ||||||||||||||||
Accounts receivable allowances | $ | 21,870 | $ | 15,506 | $ | — | $ | — | $ | 37,376 | ||||||
September 30, 2012: | ||||||||||||||||
Accounts receivable allowances | $ | 14,128 | $ | 7,742 | $ | — | $ | — | $ | 21,870 | ||||||
See accompanying Report of Independent Registered Public Accounting Firm | ||||||||||||||||
Significant_Accounting_Policie1
Significant Accounting Policies And Practices (Policy) | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Significant Accounting Policies And Practices [Abstract] | ' | |||||||||
Principles Of Consolidation And Fiscal Year End | ' | |||||||||
(a) Principles of Consolidation and Fiscal Year End | ||||||||||
The consolidated financial statements include the financial statements of SB Holdings and its majority owned subsidiaries and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). All intercompany transactions have been eliminated. The Company’s fiscal year ends September 30. References herein to Fiscal 2014, Fiscal 2013 and Fiscal 2012 refer to the fiscal years ended September 30, 2014, 2013 and 2012, respectively. | ||||||||||
Revenue Recognition | ' | |||||||||
(b) Revenue Recognition | ||||||||||
The Company recognizes revenue from product sales generally upon delivery to the customer, or at the shipping point in situations where the customer picks up the product or where delivery terms so stipulate. This represents the point at which title and all risks and rewards of ownership of the product are passed, provided that: there are no uncertainties regarding customer acceptance, there is persuasive evidence that an arrangement exists, the price to the buyer is fixed or determinable and ability to collect is deemed reasonably assured. The Company is generally not obligated to allow for, and its general policy is not to accept, product returns for battery sales. The Company does accept returns in specific instances related to its shaving, grooming, personal care, home and garden, small appliances, hardware and home improvement and pet products. The provision for customer returns is based on historical sales and returns and other relevant information. The Company estimates and accrues the cost of returns, which are treated as a reduction of Net sales. | ||||||||||
The Company enters into various promotional arrangements, primarily with retail customers, including arrangements entitling such retailers to cash rebates from the Company based on the level of their purchases, which require the Company to estimate and accrue the estimated costs of the promotional programs. These costs are treated as a reduction of Net sales. | ||||||||||
The Company also enters into promotional arrangements that target the ultimate consumer. The costs associated with such arrangements are treated as either a reduction in Net sales or an increase in Cost of goods sold, based on the type of promotional program. The income statement presentation of the Company’s promotional arrangements complies with Accounting Standards Codification (“ASC”) Topic 605: “Revenue Recognition.” For all types of promotional arrangements and programs, the Company monitors its commitments and uses various measures, including past experience, to determine amounts to be recorded for the estimate of the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and are documented through written contracts, correspondence or other communications with the individual customers. | ||||||||||
The Company also enters into various arrangements, primarily with retail customers, which require the Company to make upfront cash, or “slotting” payments, in order to secure the right to distribute through such customers. The Company capitalizes slotting payments provided the payments are supported by a time or volume based arrangement with the retailer, and amortizes the associated payment over the appropriate time or volume-based term of the arrangement. The amortization of slotting payments is treated as a reduction in Net sales and a corresponding asset is reported in Deferred charges and other in the accompanying Consolidated Statements of Financial Position. | ||||||||||
Use of Estimates | ' | |||||||||
(c) Use of Estimates | ||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||
Cash Equivalents | ' | |||||||||
(d) Cash Equivalents | ||||||||||
For purposes of the accompanying Consolidated Statements of Financial Position and Consolidated Statements of Cash Flows, the Company considers all highly liquid debt instruments purchased with original maturities of three months or less to be cash equivalents. | ||||||||||
Concentrations Of Credit Risk And Major Customers | ' | |||||||||
(e) Concentrations of Credit Risk and Major Customers | ||||||||||
Trade receivables subject the Company to credit risk. Trade accounts receivable are carried at net realizable value. The Company extends credit to its customers based upon an evaluation of the customer’s financial condition and credit history, but generally does not require collateral. The Company monitors its customers’ credit and financial condition based on changing economic conditions and will make adjustments to credit policies as required. Provisions for losses on uncollectible trade receivables are determined based on ongoing evaluations of the Company’s receivables, principally on the basis of historical collection experience and evaluations of the risks of nonpayment for a given customer. | ||||||||||
The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This major customer represented approximately 16%, 18% and 23% of the Company’s Net sales during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. This major customer also represented approximately 14% and 11% of the Company’s Trade accounts receivable, net as of September 30, 2014 and September 30, 2013, respectively. | ||||||||||
Approximately 40%, 41% and 46% of the Company’s Net sales during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively, occurred outside of the United States. These sales and related receivables are subject to varying degrees of credit, currency and political and economic risk. The Company monitors these risks and makes appropriate provisions for ability to collect based on an assessment of the risks present. | ||||||||||
Displays And Fixtures | ' | |||||||||
(f) Displays and Fixtures | ||||||||||
Temporary displays are generally disposable cardboard displays shipped to customers to facilitate display of the Company’s products. Temporary displays are generally disposed of after a single use by the customer. | ||||||||||
Permanent fixtures are more lasting in nature, are generally made from wire or other longer-lived materials, and are shipped to customers for use in displaying the Company’s products. These permanent fixtures are restocked with the Company’s product multiple times over the fixture’s useful life. | ||||||||||
The costs of both temporary and permanent displays are capitalized as a prepaid asset until shipped to the customer and are included in Prepaid expenses and other in the accompanying Consolidated Statements of Financial Position. The costs of temporary displays are expensed in the period in which they are shipped to customers and the costs of permanent fixtures are amortized over an estimated useful life of one to two years from the date they are shipped to customers. The unamortized cost of permanent fixtures is reflected in Deferred charges and other in the accompanying Consolidated Statements of Financial Position. | ||||||||||
Inventories | ' | |||||||||
(g) Inventories | ||||||||||
The Company’s inventories are valued at the lower of cost or net realizable value. Cost of inventories is determined using the first-in, first-out (FIFO) method. | ||||||||||
Property, Plant And Equipment | ' | |||||||||
(h) Property, Plant and Equipment | ||||||||||
Property, plant and equipment are recorded at cost or at fair value if acquired in a purchase business combination. Depreciation on plant and equipment is calculated on the straight-line method over the estimated useful lives of the assets. Depreciable lives by major classification are as follows: | ||||||||||
Building and improvements | 20 | - | 40 | years | ||||||
Machinery, equipment and other | 2 | - | 15 | years | ||||||
Plant and equipment held under capital leases are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset; such amortization is included in depreciation expense. | ||||||||||
The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates recoverability of assets to be held and used by comparing the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. | ||||||||||
Intangible Assets | ' | |||||||||
(i) Intangible Assets | ||||||||||
Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives of up to 20 years. The excess of the fair value of the consideration transferred in a business combination over the fair value of net assets acquired (goodwill) and indefinite-lived intangible assets (certain trade name intangibles) are not amortized. Goodwill is tested for impairment at least annually at the reporting unit level, with such groupings being consistent with the Company’s reportable segments. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. Indefinite-lived trade name intangibles are tested for impairment at least annually by comparing the fair value, determined using a relief from royalty methodology, with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. | ||||||||||
ASC Topic 350: “Intangibles-Goodwill and Other,” (“ASC 350”) requires that goodwill and indefinite-lived intangible assets be tested for impairment annually, or more often if an event or circumstance indicates that an impairment loss may have been incurred. The Company’s management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as unexpected adverse business conditions, economic factors, unanticipated technological change or competitive activities, loss of key personnel and acts by governments and courts may signal that an asset has become impaired. | ||||||||||
During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company’s goodwill and trade name intangibles were tested for impairment as of the Company’s August financial period end, the Company’s annual testing date. | ||||||||||
Intangibles with Indefinite Lives | ||||||||||
In accordance with ASC 350, the Company conducts impairment testing on the Company’s goodwill. To determine fair value during Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company used the discounted estimated future cash flows methodology. Assumptions critical to the Company’s fair value estimates under the discounted estimated future cash flows methodology are: (i) the present value factors used in determining the fair value of the reporting units and trade names, (ii) projected average revenue growth rates used in estimating future cash flows for the reporting unit, and (iii) projected long-term growth rates used in the derivation of terminal year values. These and other assumptions are impacted by economic conditions and expectations of management and will change in the future based on period specific facts and circumstances. The Company also tested the aggregate estimated fair value of its reporting units for reasonableness by comparison to the total market capitalization of the Company, which includes both its equity and debt securities. | ||||||||||
In addition, in accordance with ASC 350, as part of the Company’s annual impairment testing, the Company tested its indefinite-lived trade name intangible assets for impairment by comparing the carrying amount of such trade names to their respective fair values. Fair value was determined using a relief from royalty methodology. Assumptions critical to the Company’s fair value estimates under the relief from royalty methodology are: (i) royalty rates, (ii) projected average revenue growth rates, and (iii) applicable discount rates. | ||||||||||
In connection with the Company’s annual goodwill impairment testing performed during Fiscal 2014, Fiscal 2013 and Fiscal 2012, the first step of such testing indicated that the fair value of the Company’s reporting segments were in excess of their carrying amounts and, accordingly, no further testing of goodwill was required. | ||||||||||
During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company concluded that the fair value of its intangible assets exceeded their carrying value. | ||||||||||
Intangibles with Definite or Estimable Useful Lives | ||||||||||
The Company assesses the recoverability of intangible assets with definite or estimable useful lives whenever an event or circumstance occurs that indicates an impairment loss may have been incurred. The Company assesses the recoverability of these intangible assets by determining whether their carrying value can be recovered through projected undiscounted future cash flows. If projected undiscounted future cash flows indicate that the carrying value of the assets will not be recovered, an adjustment would be made to reduce the carrying value to an amount equal to estimated fair value determined based on projected future cash flows discounted at the Company’s incremental borrowing rate. The cash flow projections used in estimating fair value are based on historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. | ||||||||||
Impairment reviews are conducted at the judgment of management when it believes that a change in circumstances in the business or external factors warrants a review. Circumstances such as the discontinuation of a product or product line, a sudden or consistent decline in the sales forecast for a product, changes in technology or in the way an asset is being used, a history of operating or cash flow losses or an adverse change in legal factors or in the business climate, among others, may trigger an impairment review. | ||||||||||
The fair values of our Global Batteries & Appliances, Hardware & Home Improvement, Global Pet Supplies and the Home and Garden Business exceeded their carrying values by 87%, 47%, 80% and 146%, respectively, as of the date of the Company’s latest annual impairment testing. | ||||||||||
Debt Issuance Costs | ' | |||||||||
(j) Debt Issuance Costs | ||||||||||
Debt issuance costs are capitalized and amortized to interest expense using the effective interest method over the lives of the related debt agreements. | ||||||||||
Accounts Payable | ' | |||||||||
(k) Accounts Payable | ||||||||||
Included in accounts payable are book overdrafts, net of deposits on hand, on disbursement accounts that are replenished when checks are presented for payment. | ||||||||||
Income Taxes | ' | |||||||||
(l) Income Taxes | ||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||
The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in income tax expense in the period in which the change in judgment occurs. Accrued interest expense and penalties related to uncertain tax positions are recorded in Income tax expense. | ||||||||||
Foreign Currency Translation | ' | |||||||||
(m) Foreign Currency Translation | ||||||||||
Local currencies are considered the functional currencies for most of the Company’s operations outside the United States. Assets and liabilities of the Company’s foreign subsidiaries are translated at the rate of exchange existing at year-end, with revenues, expenses and cash flows translated at the average of the monthly exchange rates. Adjustments resulting from translation of the financial statements are recorded as a component of Accumulated other comprehensive income (loss) (“AOCI”). Also included in AOCI are the effects of exchange rate changes on intercompany balances of a long-term nature. | ||||||||||
As of September 30, 2014 and September 30, 2013, accumulated (losses) gains related to foreign currency translation adjustments of $(39,517) and $(7,050), respectively, were reflected in the accompanying Consolidated Statements of Financial Position in AOCI. | ||||||||||
Foreign currency transaction gains and losses related to assets and liabilities that are denominated in a currency other than the functional currency are reported in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions aggregating $6,775, $9,388 and $1,654 for Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively, are included in Other expense, net, in the accompanying Consolidated Statements of Operations. | ||||||||||
Shipping and Handling Costs | ' | |||||||||
(n) Shipping and Handling Costs | ||||||||||
The Company incurred shipping and handling costs of $260,321, $246,090 and $198,152 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. Shipping and handling costs, which are included in Selling expenses in the accompanying Consolidated Statements of Operations, include costs incurred with third-party carriers to transport products to customers and salaries and overhead costs related to activities to prepare the Company’s products for shipment at the Company’s distribution facilities. | ||||||||||
Advertising Costs | ' | |||||||||
(o) Advertising Costs | ||||||||||
The Company incurred advertising costs of $21,356, $22,971 and $20,706 during Fiscal 2014, Fiscal 2013 and Fiscal 2012, respectively. Such advertising costs are included in Selling expenses in the accompanying Consolidated Statements of Operations and include agency fees and other costs to create advertisements, as well as costs paid to third parties to print or broadcast the Company’s advertisements. | ||||||||||
Research And Development Costs | ' | |||||||||
(p) Research and Development Costs | ||||||||||
Research and development costs are charged to expense in the period they are incurred. | ||||||||||
Net Income (Loss) Per Common Share | ' | |||||||||
(q) Net Income (Loss) Per Common Share | ||||||||||
Basic net income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding for the period. Basic net income (loss) per common share does not consider the effect of dilutive common stock equivalents. As long as their effect is not antidilutive, diluted net income (loss) per common share reflects the dilution that would occur if employee stock units and restricted stock awards were exercised or converted into common shares or resulted in the issuance of common shares that then shared in the net income (loss) of the entity. The computation of diluted net income (loss) per common share uses the “treasury stock” method to reflect dilution. The difference between the number of shares used in the calculations of basic and diluted net income (loss) per share is due to the effects of restricted stock and assumed conversion of employee stock unit awards. | ||||||||||
Net income (loss) per common share is calculated based upon the following shares: | ||||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Basic | 52,634 | 52,034 | 51,608 | |||||||
Effect of common stock equivalents | 627 | — | 1,701 | |||||||
Diluted | 53,261 | 52,034 | 53,309 | |||||||
During Fiscal 2013, the Company has not assumed the exercise of common stock equivalents as the impact would be antidilutive due to the net loss reported. | ||||||||||
Environmental Expenditures | ' | |||||||||
(r) Environmental Expenditures | ||||||||||
Environmental expenditures that relate to current ongoing operations or to conditions caused by past operations are expensed or capitalized as appropriate. The Company determines its liability for environmental matters on a site-by-site basis and records a liability at the time when it is probable that a liability has been incurred and such liability can be reasonably estimated. The estimated liability is not reduced for possible recoveries from insurance carriers. Estimated environmental remediation expenditures are included in the determination of the net realizable value recorded for assets held for sale. | ||||||||||
Comprehensive Income (Loss) | ' | |||||||||
(s) Comprehensive Income (Loss) | ||||||||||
Comprehensive income (loss) includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges and amortization of deferred gains and losses associated with the Company’s pension plans. The foreign currency translation gains and losses for Fiscal 2014, Fiscal 2013 and Fiscal 2012 were primarily attributable to the impact of translation of the net assets of the Company’s European and Latin American operations, which primarily have functional currencies in Euros, Pounds Sterling, Mexican Pesos and Brazilian Reals. | ||||||||||
For information pertaining to the reclassification of unrealized gains and losses on derivative instruments, see Note 7, “Derivative Financial Instruments.” | ||||||||||
The following is a roll forward of the amounts recorded in AOCI: | ||||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Foreign Currency Translation Adjustments: | ||||||||||
Beginning balance | $ | -7,050 | $ | -225 | $ | 8,377 | ||||
Gross change before reclassification adjustment | -32,528 | -6,622 | -8,602 | |||||||
Gross change after reclassification adjustment | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Deferred tax effect | — | — | — | |||||||
Deferred tax valuation allowance | — | — | — | |||||||
Other Comprehensive Income (Loss) | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Noncontrolling interest | -61 | 203 | — | |||||||
Comprehensive income (loss) attributable to controlling interest | $ | -39,517 | $ | -7,050 | $ | -225 | ||||
Derivative Hedging Instruments: | ||||||||||
Beginning balance | $ | -2,291 | $ | 218 | $ | -1,327 | ||||
Gross change before reclassification adjustment | 13,154 | -2,013 | -1,824 | |||||||
Net reclassification adjustment for (gains) losses included in earnings | 2,557 | -920 | 3,097 | |||||||
Gross change after reclassification adjustment | $ | 15,711 | $ | -2,933 | $ | 1,273 | ||||
Deferred tax effect | -4,225 | -234 | -636 | |||||||
Deferred tax valuation allowance | 45 | 658 | 908 | |||||||
Other Comprehensive Income (Loss) | $ | 11,531 | $ | -2,509 | $ | 1,545 | ||||
Ending balance | 9,240 | $ | -2,291 | $ | 218 | |||||
Defined Benefit Pension Plans: | ||||||||||
Beginning balance | $ | -29,180 | $ | -33,428 | $ | -21,496 | ||||
Gross change before reclassification adjustment | -6,600 | 8,097 | -15,682 | |||||||
Net reclassification adjustment for losses included in Cost of goods sold | 582 | 1,571 | 900 | |||||||
Net reclassification adjustment for (gains) losses included in Selling expenses | 295 | -584 | — | |||||||
Net reclassification adjustment for losses included in General and administrative expenses | 491 | 373 | — | |||||||
Gross change after reclassification adjustment | $ | -5,232 | $ | 9,457 | $ | -14,782 | ||||
Deferred tax effect | 2,954 | -5,123 | 3,632 | |||||||
Deferred tax valuation allowance | -1,339 | -86 | -782 | |||||||
Other Comprehensive Income (Loss) | $ | -3,617 | $ | 4,248 | $ | -11,932 | ||||
Ending balance | $ | -32,797 | $ | -29,180 | $ | -33,428 | ||||
Total Other Comprehensive Income (Loss), net of tax | $ | -24,614 | $ | -4,883 | $ | -18,989 | ||||
Total ending AOCI | $ | -63,074 | $ | -38,521 | $ | -33,435 | ||||
Stock Compensation | ' | |||||||||
(t) Stock Compensation | ||||||||||
The Company measures the cost of its stock-based compensation plans, which include restricted stock awards and restricted stock units, based on the fair value of the awards at the date of grant and recognizes these costs over the requisite service period of the awards. | ||||||||||
In June 2010, SB Holdings adopted the Spectrum Brands Holdings, Inc. 2007 Omnibus Equity Award Plan (formerly known as the Russell Hobbs Inc. 2007 Omnibus Equity Award Plan, as amended on June 24, 2008) (the “RH Plan”). Prior to October 21, 2010, up to 600 shares of common stock, net of forfeitures and cancellations, could have been issued under the RH Plan. After October 21, 2010, no further awards may be made under the RH Plan. | ||||||||||
On October 21, 2010, the Board adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award Plan (the “2011 Plan”), which was approved at the Annual Meeting of Stockholders on March 1, 2011. During Fiscal 2014, the 2011 Plan was amended to increase the shares issuable by 1,000. Including the amendment to the 2011 Plan, up to 5,626 shares of common stock of SB Holdings, net of cancellations, may be issued under the 2011 Plan. | ||||||||||
Total stock compensation expense associated with restricted stock units recognized by the Company during Fiscal 2014, Fiscal 2013 and Fiscal 2012, was $46,809, $43,861 and $29,164, respectively. The amounts before tax are included in General and administrative expenses in the accompanying Consolidated Statements of Operations. The remaining unrecognized pre-tax compensation cost related to restricted stock units at September 30, 2014 was $11,815. | ||||||||||
The Company granted approximately 669 restricted stock units during Fiscal 2014. The 669 restricted stock units granted during Fiscal 2014 include 203 restricted stock units that vested immediately and 143 restricted stock units that vest over a one year period. The remaining 323 restricted stock units are performance-based and vest over a two year period. The total market value of the restricted stock units on the date of the grant was approximately $50,507. | ||||||||||
The Company granted approximately 700 restricted stock units during Fiscal 2013. Of these grants, 48 restricted stock units are time-based and vest over a period of one year. Of the remaining 652 restricted stock units, 90 are performance-based and vest over a one year period and 562 are both performance and time-based and vest over a one year performance-based period followed by a one year time-based period. The total market value of the restricted stock units on the date of the grant was approximately $32,176. | ||||||||||
The Company granted approximately 863 restricted stock units during Fiscal 2012. Of these grants, 160 restricted stock units are time-based and vest over a period ranging from one to two years. The remaining 703 restricted stock units are both performance and time-based and vest over a one year performance-based period followed by a one year time-based period. The total market value of the restricted stock units on the date of the grant was approximately $24,408. | ||||||||||
A summary of the Company’s restricted stock and restricted stock unit award activity for Fiscal 2014, Fiscal 2013 and Fiscal 2012, and the non-vested awards outstanding as of September 30, 2014 is as follows: | ||||||||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Awards | Shares | Fair Value | Date | |||||||
Restricted stock awards at September 30, 2011 | 123 | 24.20 | $ | 2,977 | ||||||
Vested | -110 | 23.75 | -2,613 | |||||||
Restricted stock awards at September 30, 2012 | 13 | $ | 28.00 | $ | 364 | |||||
Vested | -13 | 28.00 | -364 | |||||||
Restricted stock awards at September 30, 2013 | — | $ | — | $ | — | |||||
Vested | — | — | — | |||||||
Restricted stock awards at September 30, 2014 | — | $ | — | $ | — | |||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Units | Shares | Fair Value | Date | |||||||
Non-vested restricted stock units at September 30, 2011 | 1,645 | $ | 28.97 | $ | 47,656 | |||||
Granted | 863 | 28.28 | 24,408 | |||||||
Forfeited | -57 | 28.49 | -1,624 | |||||||
Vested | -520 | 29.83 | -15,509 | |||||||
Non-vested restricted stock units at September 30, 2012 | 1,931 | $ | 28.45 | $ | 54,931 | |||||
Granted | 700 | 45.97 | 32,176 | |||||||
Forfeited | -302 | 30.36 | -9,168 | |||||||
Vested | -1,211 | 28.25 | -34,216 | |||||||
Non-vested restricted stock units at September 30, 2013 | 1,118 | $ | 39.11 | $ | 43,723 | |||||
Granted | 669 | 75.50 | 50,507 | |||||||
Forfeited | -6 | 69.33 | -416 | |||||||
Vested | -954 | 39.69 | -37,860 | |||||||
Non-vested restricted stock units at September 30, 2014 | 827 | $ | 67.66 | $ | 55,954 | |||||
Restructuring And Related Charges | ' | |||||||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Units | Shares | Fair Value | Date | |||||||
Non-vested restricted stock units at September 30, 2011 | 1,645 | $ | 28.97 | $ | 47,656 | |||||
Granted | 863 | 28.28 | 24,408 | |||||||
Forfeited | -57 | 28.49 | -1,624 | |||||||
Vested | -520 | 29.83 | -15,509 | |||||||
Non-vested restricted stock units at September 30, 2012 | 1,931 | $ | 28.45 | $ | 54,931 | |||||
Granted | 700 | 45.97 | 32,176 | |||||||
Forfeited | -302 | 30.36 | -9,168 | |||||||
Vested | -1,211 | 28.25 | -34,216 | |||||||
Non-vested restricted stock units at September 30, 2013 | 1,118 | $ | 39.11 | $ | 43,723 | |||||
Granted | 669 | 75.50 | 50,507 | |||||||
Forfeited | -6 | 69.33 | -416 | |||||||
Vested | -954 | 39.69 | -37,860 | |||||||
Non-vested restricted stock units at September 30, 2014 | 827 | $ | 67.66 | $ | 55,954 | |||||
(u) Restructuring and Related Charges | ||||||||||
Restructuring charges are recognized and measured in accordance with the provisions of ASC Topic 420: “Exit or Disposal Cost Obligations,” (“ASC 420”) and ASC Topic 712: “Compensation – Nonretirement Post-Employment Benefits,” (ASC 712”). Under ASC 420 and ASC 712, restructuring charges include, but are not limited to, termination and related costs consisting primarily of one-time termination benefits such as severance costs and retention bonuses, and contract termination costs consisting primarily of lease termination costs. Related charges, as defined by the Company, include, but are not limited to, other costs directly associated with exit and integration activities, including impairment of property and other assets, departmental costs of full-time incremental integration employees, and any other items related to the exit or integration activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. The Company presents restructuring and related charges on a combined basis. | ||||||||||
Liabilities from restructuring and related charges are recorded for estimated costs of facility closures, significant organizational adjustments and measures undertaken by management to exit certain activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. Such liabilities could include amounts for items such as severance costs and related benefits (including settlements of pension plans), impairment of property and equipment and other current or long term assets, lease termination payments and any other items directly related to the exit activities. While the actions are carried out as expeditiously as possible, restructuring and related charges are estimates. Changes in estimates resulting in an increase to or a reversal of a previously recorded liability may be required as management executes a restructuring plan. | ||||||||||
The Company reports restructuring and related charges associated with manufacturing and related initiatives in cost of goods sold. Restructuring and related charges reflected in cost of goods sold include, but are not limited to, termination and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives and other costs directly related to the restructuring initiatives implemented. | ||||||||||
The Company reports restructuring and related charges associated with administrative functions in operating expenses, such as initiatives impacting sales, marketing, distribution or other non-manufacturing related functions. Restructuring and related charges reflected in operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the administrative functions and other costs directly related to the initiatives implemented. | ||||||||||
(See also Note 14, “Restructuring and Related Charges,” for a more complete discussion of restructuring initiatives and related costs). | ||||||||||
Acquisition and Integration Related Charges | ' | |||||||||
(v) Acquisition and Integration Related Charges | ||||||||||
Acquisition and integration related charges reflected in Operating expenses include, but are not limited to, transaction costs such as banking, legal, accounting and other professional fees directly related to both consummated acquisitions and acquisition targets, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination expenses associated with mergers and acquisitions. | ||||||||||
The following table summarizes acquisition and integration related charges incurred by the Company during Fiscal 2014, Fiscal 2013 and Fiscal 2012: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Russell Hobbs | ||||||||||
Legal and professional fees | 9 | 39 | 1,495 | |||||||
Integration costs | 2,421 | $ | 3,452 | $ | 10,168 | |||||
Employee termination charges | 30 | 217 | 3,900 | |||||||
Russell Hobbs Acquisition and integration related charges | $ | 2,460 | $ | 3,708 | $ | 15,563 | ||||
HHI Business | ||||||||||
Legal and professional fees | 2,192 | 27,712 | — | |||||||
Integration costs | 8,691 | 8,864 | — | |||||||
Employee termination charges | 155 | 356 | — | |||||||
HHI Business Acquisition and integration related charges | $ | 11,038 | $ | 36,932 | $ | — | ||||
Liquid Fence | 3,475 | — | — | |||||||
Shaser | 930 | 4,828 | — | |||||||
FURminator | 53 | 2,270 | 7,938 | |||||||
Black Flag | — | 154 | 3,379 | |||||||
Other | 2,146 | 553 | 4,186 | |||||||
Total Acquisition and integration related charges | $ | 20,102 | $ | 48,445 | $ | 31,066 | ||||
Significant_Accounting_Policie2
Significant Accounting Policies And Practices (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Significant Accounting Policies And Practices [Abstract] | ' | |||||||||
Depreciable Lives Of Property, Plant And Equipment | ' | |||||||||
Building and improvements | 20 | - | 40 | years | ||||||
Machinery, equipment and other | 2 | - | 15 | years | ||||||
Schedule of Net Income (Loss) Per Common Share | ' | |||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Basic | 52,634 | 52,034 | 51,608 | |||||||
Effect of common stock equivalents | 627 | — | 1,701 | |||||||
Diluted | 53,261 | 52,034 | 53,309 | |||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||
Fiscal 2014 | Fiscal 2013 | Fiscal 2012 | ||||||||
Foreign Currency Translation Adjustments: | ||||||||||
Beginning balance | $ | -7,050 | $ | -225 | $ | 8,377 | ||||
Gross change before reclassification adjustment | -32,528 | -6,622 | -8,602 | |||||||
Gross change after reclassification adjustment | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Deferred tax effect | — | — | — | |||||||
Deferred tax valuation allowance | — | — | — | |||||||
Other Comprehensive Income (Loss) | $ | -32,528 | $ | -6,622 | $ | -8,602 | ||||
Noncontrolling interest | -61 | 203 | — | |||||||
Comprehensive income (loss) attributable to controlling interest | $ | -39,517 | $ | -7,050 | $ | -225 | ||||
Derivative Hedging Instruments: | ||||||||||
Beginning balance | $ | -2,291 | $ | 218 | $ | -1,327 | ||||
Gross change before reclassification adjustment | 13,154 | -2,013 | -1,824 | |||||||
Net reclassification adjustment for (gains) losses included in earnings | 2,557 | -920 | 3,097 | |||||||
Gross change after reclassification adjustment | $ | 15,711 | $ | -2,933 | $ | 1,273 | ||||
Deferred tax effect | -4,225 | -234 | -636 | |||||||
Deferred tax valuation allowance | 45 | 658 | 908 | |||||||
Other Comprehensive Income (Loss) | $ | 11,531 | $ | -2,509 | $ | 1,545 | ||||
Ending balance | 9,240 | $ | -2,291 | $ | 218 | |||||
Defined Benefit Pension Plans: | ||||||||||
Beginning balance | $ | -29,180 | $ | -33,428 | $ | -21,496 | ||||
Gross change before reclassification adjustment | -6,600 | 8,097 | -15,682 | |||||||
Net reclassification adjustment for losses included in Cost of goods sold | 582 | 1,571 | 900 | |||||||
Net reclassification adjustment for (gains) losses included in Selling expenses | 295 | -584 | — | |||||||
Net reclassification adjustment for losses included in General and administrative expenses | 491 | 373 | — | |||||||
Gross change after reclassification adjustment | $ | -5,232 | $ | 9,457 | $ | -14,782 | ||||
Deferred tax effect | 2,954 | -5,123 | 3,632 | |||||||
Deferred tax valuation allowance | -1,339 | -86 | -782 | |||||||
Other Comprehensive Income (Loss) | $ | -3,617 | $ | 4,248 | $ | -11,932 | ||||
Ending balance | $ | -32,797 | $ | -29,180 | $ | -33,428 | ||||
Total Other Comprehensive Income (Loss), net of tax | $ | -24,614 | $ | -4,883 | $ | -18,989 | ||||
Total ending AOCI | $ | -63,074 | $ | -38,521 | $ | -33,435 | ||||
Schedule of Restricted Stock And Restricted Stock Units | ' | |||||||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Awards | Shares | Fair Value | Date | |||||||
Restricted stock awards at September 30, 2011 | 123 | 24.20 | $ | 2,977 | ||||||
Vested | -110 | 23.75 | -2,613 | |||||||
Restricted stock awards at September 30, 2012 | 13 | $ | 28.00 | $ | 364 | |||||
Vested | -13 | 28.00 | -364 | |||||||
Restricted stock awards at September 30, 2013 | — | $ | — | $ | — | |||||
Vested | — | — | — | |||||||
Restricted stock awards at September 30, 2014 | — | $ | — | $ | — | |||||
Weighted | ||||||||||
Average | Fair Value | |||||||||
Grant Date | at Grant | |||||||||
Restricted Stock Units | Shares | Fair Value | Date | |||||||
Non-vested restricted stock units at September 30, 2011 | 1,645 | $ | 28.97 | $ | 47,656 | |||||
Granted | 863 | 28.28 | 24,408 | |||||||
Forfeited | -57 | 28.49 | -1,624 | |||||||
Vested | -520 | 29.83 | -15,509 | |||||||
Non-vested restricted stock units at September 30, 2012 | 1,931 | $ | 28.45 | $ | 54,931 | |||||
Granted | 700 | 45.97 | 32,176 | |||||||
Forfeited | -302 | 30.36 | -9,168 | |||||||
Vested | -1,211 | 28.25 | -34,216 | |||||||
Non-vested restricted stock units at September 30, 2013 | 1,118 | $ | 39.11 | $ | 43,723 | |||||
Granted | 669 | 75.50 | 50,507 | |||||||
Forfeited | -6 | 69.33 | -416 | |||||||
Vested | -954 | 39.69 | -37,860 | |||||||
Non-vested restricted stock units at September 30, 2014 | 827 | $ | 67.66 | $ | 55,954 | |||||
Summarized Acquisition And Integration Related Charges | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Russell Hobbs | ||||||||||
Legal and professional fees | 9 | 39 | 1,495 | |||||||
Integration costs | 2,421 | $ | 3,452 | $ | 10,168 | |||||
Employee termination charges | 30 | 217 | 3,900 | |||||||
Russell Hobbs Acquisition and integration related charges | $ | 2,460 | $ | 3,708 | $ | 15,563 | ||||
HHI Business | ||||||||||
Legal and professional fees | 2,192 | 27,712 | — | |||||||
Integration costs | 8,691 | 8,864 | — | |||||||
Employee termination charges | 155 | 356 | — | |||||||
HHI Business Acquisition and integration related charges | $ | 11,038 | $ | 36,932 | $ | — | ||||
Liquid Fence | 3,475 | — | — | |||||||
Shaser | 930 | 4,828 | — | |||||||
FURminator | 53 | 2,270 | 7,938 | |||||||
Black Flag | — | 154 | 3,379 | |||||||
Other | 2,146 | 553 | 4,186 | |||||||
Total Acquisition and integration related charges | $ | 20,102 | $ | 48,445 | $ | 31,066 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Inventories [Abstract] | ' | ||||||
Schedule of Inventories | ' | ||||||
September, 30 | |||||||
2014 | 2013 | ||||||
Raw materials | $ | 104,129 | $ | 97,290 | |||
Work-in-process | 35,259 | 40,626 | |||||
Finished goods | 485,147 | 495,007 | |||||
$ | 624,535 | $ | 632,923 | ||||
Property_Plant_And_Equipment_T
Property, Plant And Equipment (Tables) | 12 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Property, Plant And Equipment [Abstract] | ' | ||||||
Schedule Of Property, Plant And Equipment | ' | ||||||
September, 30 | |||||||
2014 | 2013 | ||||||
Land, buildings and improvements | $ | 159,811 | $ | 164,654 | |||
Machinery, equipment and other | 402,931 | 338,335 | |||||
Capitalized leases | 98,461 | 66,791 | |||||
Construction in progress | 32,199 | 46,668 | |||||
$ | 693,402 | $ | 616,448 | ||||
Accumulated depreciation | -264,525 | -203,897 | |||||
$ | 428,877 | $ | 412,551 | ||||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Goodwill And Intangible Assets [Abstract] | ' | |||||||||||||||
Schedule of Goodwill and Intangible Assets | ' | |||||||||||||||
Global | Hardware & | |||||||||||||||
Batteries & | Home | Global Pet | Home and | |||||||||||||
Appliances | Improvement | Supplies | Garden | Total | ||||||||||||
Goodwill: | ||||||||||||||||
Balance at September 30, 2012 | $ | 268,556 | $ | — | $ | 237,932 | $ | 187,757 | $ | 694,245 | ||||||
Additions | 67,149 | 717,853 | — | 1,614 | 786,616 | |||||||||||
Effect of translation | -2,205 | -3,129 | 1,145 | — | -4,189 | |||||||||||
Balance at September 30, 2013 | $ | 333,500 | $ | 714,724 | $ | 239,077 | $ | 189,371 | $ | 1,476,672 | ||||||
Additions | — | 3,460 | — | 7,088 | 10,548 | |||||||||||
Effect of translation | -6,085 | -8,377 | -3,197 | — | -17,659 | |||||||||||
Balance at September 30, 2014 | $ | 327,415 | $ | 709,807 | $ | 235,880 | $ | 196,459 | $ | 1,469,561 | ||||||
Intangible Assets: | ||||||||||||||||
Trade Names Not Subject to Amortization | ||||||||||||||||
Balance at September 30, 2012 | $ | 545,426 | $ | — | $ | 212,142 | $ | 83,500 | $ | 841,068 | ||||||
Additions | — | 331,000 | — | — | 331,000 | |||||||||||
Effect of translation | 1,927 | -229 | 4,284 | — | 5,982 | |||||||||||
Balance at September 30, 2013 | $ | 547,353 | $ | 330,771 | $ | 216,426 | $ | 83,500 | $ | 1,178,050 | ||||||
Additions | — | — | — | 5,100 | 5,100 | |||||||||||
Effect of translation | -2,804 | -205 | -5,867 | — | -8,876 | |||||||||||
Balance at September 30, 2014 | $ | 544,549 | $ | 330,566 | $ | 210,559 | $ | 88,600 | $ | 1,174,274 | ||||||
Intangible Assets Subject to Amortization | ||||||||||||||||
Balance at September 30, 2012, net | $ | 447,112 | — | $ | 264,622 | $ | 162,127 | $ | 873,861 | |||||||
Additions | 29,379 | 158,100 | 802 | — | 188,281 | |||||||||||
Amortization during period | -35,553 | -11,372 | -21,379 | -9,475 | -77,779 | |||||||||||
Effect of translation | -162 | -267 | 1,182 | — | 753 | |||||||||||
Balance at September 30, 2013, net | $ | 440,776 | 146,461 | $ | 245,227 | $ | 152,652 | $ | 985,116 | |||||||
Additions | — | — | 1,788 | 21,800 | 23,588 | |||||||||||
Amortization during period | -34,998 | -14,758 | -21,578 | -10,394 | -81,728 | |||||||||||
Effect of translation | -5,429 | -1,171 | -3,111 | — | -9,711 | |||||||||||
Balance at September 30, 2014, net | $ | 400,349 | $ | 130,532 | $ | 222,326 | $ | 164,058 | $ | 917,265 | ||||||
Total Intangible Assets, net at September 30, 2014 | $ | 944,898 | $ | 461,098 | $ | 432,885 | $ | 252,658 | $ | 2,091,539 | ||||||
Schedule of Carrying Value and Accumulated Amortization for Intangible Assets Subject to Amortization | ' | |||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||
Technology Assets Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 192,179 | $ | 172,105 | ||||||||||||
Accumulated amortization | -57,567 | -39,028 | ||||||||||||||
Carrying value, net | $ | 134,612 | $ | 133,077 | ||||||||||||
Trade Names Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 171,072 | $ | 171,572 | ||||||||||||
Accumulated amortization | -60,997 | -44,660 | ||||||||||||||
Carrying value, net | $ | 110,075 | $ | 126,912 | ||||||||||||
Customer Relationships Subject to Amortization: | ||||||||||||||||
Gross balance | $ | 877,157 | $ | 885,895 | ||||||||||||
Accumulated amortization | -204,579 | -160,768 | ||||||||||||||
Carrying value, net | $ | 672,578 | $ | 725,127 | ||||||||||||
Total Intangible Assets, net Subject to Amortization | $ | 917,265 | $ | 985,116 | ||||||||||||
Schedule of Amortization Expense | ' | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Proprietary technology amortization | $ | 18,552 | $ | 16,260 | $ | 9,133 | ||||||||||
Trade names amortization | 16,448 | 16,587 | 14,347 | |||||||||||||
Customer relationships amortization | 46,728 | 44,932 | 40,186 | |||||||||||||
$ | 81,728 | $ | 77,779 | $ | 63,666 | |||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Debt [Abstract] | ' | ||||||||||||
Schedule Of Debt | ' | ||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||
Amount | Rate | Amount | Rate | ||||||||||
Term Loan, due September 4, 2017 (Tranche A) | $ | 648,383 | 3.0 | % | $ | 850,000 | 3.0 | % | |||||
Term Loan, due September 4, 2019 (Tranche C) | 509,850 | 3.6 | % | 300,000 | 3.6 | % | |||||||
CAD Term Loan, due December 17, 2019 | 34,219 | 5.1 | % | 81,397 | 5.1 | % | |||||||
Term Loan, due December 17, 2019 (Tranche B) | — | — | % | 513,312 | 4.6 | % | |||||||
Euro Term Loan, due September 4, 2019 | 283,339 | 3.8 | % | — | — | % | |||||||
6.375% Notes, due November 15, 2020 | 520,000 | 6.4 | % | 520,000 | 6.4 | % | |||||||
6.625% Notes, due November 15, 2022 | 570,000 | 6.6 | % | 570,000 | 6.6 | % | |||||||
6.75% Notes, due March 15, 2020 | 300,000 | 6.8 | % | 300,000 | 6.8 | % | |||||||
ABL Facility, expiring May 24, 2017 | — | 2.5 | % | — | 5.7 | % | |||||||
Other notes and obligations | 36,584 | 8.8 | % | 28,468 | 8.5 | % | |||||||
Capitalized lease obligations | 94,711 | 6.1 | % | 67,402 | 6.2 | % | |||||||
$ | 2,997,086 | $ | 3,230,579 | ||||||||||
Original issuance discounts on debt | -6,213 | -11,716 | |||||||||||
Less: current maturities | -96,736 | -102,921 | |||||||||||
Long-term debt | $ | 2,894,137 | $ | 3,115,942 | |||||||||
Aggregate Scheduled Maturities of Debt and Capital Lease Obligations | ' | ||||||||||||
2015 | $ | 96,736 | |||||||||||
2016 | 75,990 | ||||||||||||
2017 | 559,244 | ||||||||||||
2018 | 13,049 | ||||||||||||
2019 | 766,459 | ||||||||||||
Thereafter | 1,485,608 | ||||||||||||
$ | 2,997,086 | ||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||||||
Interest Rate Swap Derivatives | ' | |||||||||||||
2014 | 2013 | |||||||||||||
Notional Amount | Remaining Years | Notional Amount | Remaining Years | |||||||||||
Interest rate swaps - fixed | $ | 300,000 | 2.5 | $ | — | — | ||||||||
Fair Value of Outstanding Derivative Contracts Recorded as Assets and Liabilities in the Condensed Consolidated Statements of Financial Position | ' | |||||||||||||
The fair value of the Company’s outstanding derivative contracts recorded as assets in the accompanying Consolidated Statements of Financial Position are as follows: | ||||||||||||||
Asset Derivatives | 30-Sep-14 | 30-Sep-13 | ||||||||||||
Derivatives designated as hedging instruments under ASC 815: | ||||||||||||||
Interest rate contracts | Deferred charges and other | $ | 631 | $ | — | |||||||||
Commodity contracts | Receivables—Other | 1,276 | 416 | |||||||||||
Commodity contracts | Deferred charges and other | — | 3 | |||||||||||
Foreign exchange contracts | Receivables—Other | 11,976 | 1,719 | |||||||||||
Foreign exchange contracts | Deferred charges and other | 345 | — | |||||||||||
Total asset derivatives designated as hedging instruments under ASC 815 | 14,228 | 2,138 | ||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | ||||||||||||||
Foreign exchange contracts | Receivables—Other | 508 | 143 | |||||||||||
Total asset derivatives | $ | 14,736 | $ | 2,281 | ||||||||||
The fair value of the Company’s outstanding derivative contracts recorded as liabilities in the accompanying Consolidated Statements of Financial Position are as follows: | ||||||||||||||
Liability Derivatives | 30-Sep-14 | 30-Sep-13 | ||||||||||||
Derivatives designated as hedging instruments under ASC 815: | ||||||||||||||
Interest rate contracts | Other current liabilities | $ | 1,335 | $ | — | |||||||||
Interest rate contracts | Accrued interest | 440 | — | |||||||||||
Commodity contracts | Accounts payable | 150 | 450 | |||||||||||
Foreign exchange contracts | Accounts payable | — | 4,577 | |||||||||||
Foreign exchange contracts | Other long-term liabilities | — | 65 | |||||||||||
Total liability derivatives designated as hedging instruments under ASC 815 | $ | 1,925 | $ | 5,092 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815: | ||||||||||||||
Commodity contract | Accounts payable | $ | 45 | $ | 55 | |||||||||
Foreign exchange contracts | Accounts payable | 149 | 5,323 | |||||||||||
Total liability derivatives | $ | 2,119 | $ | 10,470 | ||||||||||
Summarized Impact of Derivative Instruments on the Condensed Consolidated Statement of Operations | ' | |||||||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2014, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Interest rate contracts | $ | -1,610 | Interest expense | $ | -906 | Interest expense | $ | — | ||||||
Commodity contracts | 1,933 | Cost of goods sold | 763 | Cost of goods sold | -14 | |||||||||
Foreign exchange contracts | 147 | Net sales | 210 | Net sales | — | |||||||||
Foreign exchange contracts | 12,684 | Cost of goods sold | -2,624 | Cost of goods sold | — | |||||||||
Total | $ | 13,154 | $ | -2,557 | $ | -14 | ||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2013, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Commodity contracts | $ | -2,615 | Cost of goods sold | $ | -632 | Cost of goods sold | $ | -39 | ||||||
Foreign exchange contracts | 884 | Net sales | 920 | Net sales | — | |||||||||
Foreign exchange contracts | -282 | Cost of goods sold | 632 | Cost of goods sold | — | |||||||||
Total | $ | -2,013 | $ | 920 | $ | -39 | ||||||||
The following table summarizes the impact of derivative instruments on the accompanying Consolidated Statement of Operations for Fiscal 2012, pretax: | ||||||||||||||
Location of | ||||||||||||||
Gain (Loss) | ||||||||||||||
Recognized in | Amount of | |||||||||||||
Income on | Gain (Loss) | |||||||||||||
Derivatives | Recognized in | |||||||||||||
Amount of | Location of | (Ineffective | Income on | |||||||||||
Gain (Loss) | Gain (Loss) | Amount of | Portion and | Derivatives | ||||||||||
Recognized in | Reclassified from | Gain (Loss) | Amount | (Ineffective Portion | ||||||||||
AOCI on | AOCI into | Reclassified from | Excluded from | and Amount | ||||||||||
Derivatives in ASC 815 Cash Flow | Derivatives | Income | AOCI into Income | Effectiveness | Excluded from | |||||||||
Hedging Relationships | (Effective Portion) | (Effective Portion) | (Effective Portion) | Testing) | Effectiveness Testing) | |||||||||
Commodity contracts | $ | 1,606 | Cost of goods sold | $ | -1,148 | Cost of goods sold | $ | 94 | ||||||
Interest rate contracts | 15 | Interest expense | -864 | Interest expense | — | |||||||||
Foreign exchange contracts | 61 | Net sales | -474 | Net sales | — | |||||||||
Foreign exchange contracts | -3,506 | Cost of goods sold | -611 | Cost of goods sold | — | |||||||||
Total | $ | -1,824 | $ | -3,097 | $ | 94 | ||||||||
Schedule of Gains (Losses) on Other Derivative Contracts | ' | |||||||||||||
Amount of Gain (Loss) | ||||||||||||||
Recognized in | Location of Gain (Loss) | |||||||||||||
Derivatives Not Designated as | Income on Derivatives | Recognized in | ||||||||||||
Hedging Instruments Under ASC 815 | 2014 | 2013 | 2012 | Income on Derivatives | ||||||||||
Commodity contracts | $ | -99 | $ | -55 | $ | — | Cost of goods sold | |||||||
Foreign exchange contracts | 3,115 | -3,597 | 5,916 | Other expense, net | ||||||||||
Total | $ | 3,016 | $ | -3,652 | $ | 5,916 | ||||||||
Fair_Value_Of_Financial_Instru1
Fair Value Of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Fair Value Of Financial Instruments [Abstract] | ' | ||||||||||||
Net Derivative Portfolio | ' | ||||||||||||
The Company’s net derivative portfolio as of September 30, 2014, contains Level 2 instruments and consists of interest rate, commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2014 were as follows: | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | |||||||||||||
Interest rate contracts | $ | — | $ | 631 | $ | — | $ | 631 | |||||
Commodity contracts | — | 1,276 | — | 1,276 | |||||||||
Foreign exchange contracts | — | 12,829 | — | 12,829 | |||||||||
Total Assets | $ | — | $ | 14,736 | $ | — | $ | 14,736 | |||||
Liabilities: | |||||||||||||
Interest rate contracts | $ | — | $ | -1,775 | $ | — | $ | -1,775 | |||||
Commodity contracts | — | -195 | $ | — | -195 | ||||||||
Foreign exchange contracts | — | -149 | — | -149 | |||||||||
Total Liabilities | $ | — | $ | -2,119 | $ | — | $ | -2,119 | |||||
The Company’s net derivative portfolio as of September 30, 2013, contains Level 2 instruments and consists of commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2013 were as follows: | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | |||||||||||||
Commodity contracts | $ | — | $ | 419 | $ | — | $ | 419 | |||||
Foreign exchange contracts | — | 1,862 | — | 1,862 | |||||||||
Total Assets | $ | — | $ | 2,281 | $ | — | $ | 2,281 | |||||
Liabilities: | |||||||||||||
Commodity contracts | $ | — | $ | -505 | $ | — | $ | -505 | |||||
Foreign exchange contracts | — | -9,965 | — | -9,965 | |||||||||
Total Liabilities | $ | — | $ | -10,470 | $ | — | $ | -10,470 | |||||
Carrying Amounts and Fair Values of Financial Instruments | ' | ||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||
Carrying | Carrying | ||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||
Total debt | $ | -2,990,873 | $ | -3,061,467 | $ | -3,218,863 | $ | -3,297,411 | |||||
Interest swap agreements | -1,144 | -1,144 | — | — | |||||||||
Commodity swap and option agreements | 1,081 | 1,081 | -86 | -86 | |||||||||
Foreign exchange forward agreements | 12,680 | 12,680 | -8,103 | -8,103 | |||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Schedule of Income Tax Expense Based Upon Components of (Loss) Income from Continuing Operations Before Income Tax | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Pretax income (loss): | ||||||||||
United States | $ | 80,726 | $ | -212,168 | $ | -66,102 | ||||
Outside the United States | 192,803 | 184,214 | 175,059 | |||||||
Total pretax income (loss) | $ | 273,529 | $ | -27,954 | $ | 108,957 | ||||
Schedule of Components of Income Tax Expense | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Current: | ||||||||||
Federal | $ | 6,165 | $ | — | $ | — | ||||
Foreign | 46,578 | 47,740 | 38,113 | |||||||
State | 4,351 | 1,274 | -361 | |||||||
Total current | $ | 57,094 | $ | 49,014 | $ | 37,752 | ||||
Deferred: | ||||||||||
Federal | 19,694 | -23,397 | 20,884 | |||||||
Foreign | -8,186 | 2,146 | 5,190 | |||||||
State | -9,579 | -404 | -3,441 | |||||||
Total deferred | $ | 1,929 | $ | -21,655 | $ | 22,633 | ||||
Income tax expense | $ | 59,023 | $ | 27,359 | $ | 60,385 | ||||
Schedule of Effective Income Tax Rate Reconciliation | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
U.S. Statutory federal income tax expense (benefit) | $ | 95,735 | $ | -9,784 | $ | 38,135 | ||||
Permanent items | 4,643 | 10,104 | 8,595 | |||||||
Exempt foreign income | -5,665 | -5,921 | -5,760 | |||||||
Foreign statutory rate vs. U.S. statutory rate | -23,120 | -19,182 | -15,211 | |||||||
State income taxes, net of federal expense (benefit) | 5,416 | -11,686 | -2,164 | |||||||
Residual tax on foreign earnings | 90,939 | -6,958 | 29,844 | |||||||
FURminator purchase accounting benefit | — | — | -14,511 | |||||||
HHI Business purchase accounting benefit | — | -49,848 | — | |||||||
Valuation allowance | -115,571 | 114,282 | 28,485 | |||||||
Unrecognized tax expense (benefit) | 529 | 4,062 | -4,386 | |||||||
Inflationary adjustments | -468 | -245 | -803 | |||||||
Foreign tax law changes | -7,666 | — | — | |||||||
Nondeductible share compensation | 1,441 | 1,669 | 684 | |||||||
Return to provision adjustments and other, net | 12,810 | 866 | -2,523 | |||||||
Income tax expense | $ | 59,023 | $ | 27,359 | $ | 60,385 | ||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||
September 30, | ||||||||||
2014 | 2013 | |||||||||
Current deferred tax assets: | ||||||||||
Employee benefits | $ | 16,487 | $ | 11,372 | ||||||
Restructuring | 6,318 | 7,085 | ||||||||
Inventories and receivables | 24,906 | 24,296 | ||||||||
Marketing and promotional accruals | 15,966 | 14,146 | ||||||||
Other | 14,207 | 23,261 | ||||||||
Valuation allowance | -36,015 | -32,342 | ||||||||
Total current deferred tax assets | $ | 41,869 | $ | 47,818 | ||||||
Current deferred tax liabilities: | ||||||||||
Inventories and receivables | -745 | -2,748 | ||||||||
Unrealized gains | -1,179 | -373 | ||||||||
Other | -6,018 | -11,738 | ||||||||
Total current deferred tax liabilities | $ | -7,942 | $ | -14,859 | ||||||
Net current deferred tax assets | $ | 33,927 | $ | 32,959 | ||||||
Noncurrent deferred tax assets: | ||||||||||
Employee benefits | $ | 41,248 | $ | 35,578 | ||||||
Restructuring and purchase accounting | 712 | 340 | ||||||||
Net operating loss and credit carry forwards | 507,514 | 668,679 | ||||||||
Prepaid royalty | 6,582 | 6,956 | ||||||||
Property, plant and equipment | 7,040 | 9,692 | ||||||||
Unrealized losses | 279 | 2,136 | ||||||||
Long-term debt | 49 | 668 | ||||||||
Intangibles | 6,737 | 3,917 | ||||||||
Other | 5,217 | 5,268 | ||||||||
Valuation allowance | -297,091 | -422,244 | ||||||||
Total noncurrent deferred tax assets | $ | 278,287 | $ | 310,990 | ||||||
Noncurrent deferred tax liabilities: | ||||||||||
Property, plant, and equipment | -22,634 | -27,478 | ||||||||
Unrealized gains | -20,012 | -13,126 | ||||||||
Intangibles | -728,018 | -735,506 | ||||||||
Taxes on unremitted foreign earnings | -2,648 | -18,581 | ||||||||
Other | -8,173 | -9,073 | ||||||||
Total noncurrent deferred tax liabilities | $ | -781,485 | $ | -803,764 | ||||||
Net noncurrent deferred tax liabilities | $ | -503,198 | $ | -492,774 | ||||||
Net current and noncurrent deferred tax liabilities | $ | -469,271 | $ | -459,815 | ||||||
Schedule of Unrecognized Tax Benefits Roll Forward | ' | |||||||||
Unrecognized tax benefits at September 30, 2011 | $ | 9,013 | ||||||||
Gross increase – tax positions in prior period | 773 | |||||||||
Gross decrease – tax positions in prior period | -1,308 | |||||||||
Gross increase – tax positions in current period | 776 | |||||||||
Settlements | -1,737 | |||||||||
Lapse of statutes of limitations | -1,640 | |||||||||
Unrecognized tax benefits at September 30, 2012 | $ | 5,877 | ||||||||
Gross increase – tax positions in prior period | 9,104 | |||||||||
Gross decrease – tax positions in prior period | -327 | |||||||||
Gross increase – tax positions in current period | 516 | |||||||||
Settlements | -15 | |||||||||
Lapse of statutes of limitations | -1,348 | |||||||||
Unrecognized tax benefits at September 30, 2013 | $ | 13,807 | ||||||||
Gross increase – tax positions in prior period | 1,548 | |||||||||
Gross decrease – tax positions in prior period | -1,380 | |||||||||
Gross increase – tax positions in current period | 714 | |||||||||
Settlements | -2,515 | |||||||||
Lapse of statutes of limitations | -841 | |||||||||
Unrecognized tax benefits at September 30, 2014 | $ | 11,333 | ||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||||||||
Additional Information on Pension and Other Postretirement Benefit Plans | ' | ||||||||||||||||||
Pension and Deferred | |||||||||||||||||||
Compensation Benefits | Other Benefits | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Changes in benefit obligation | |||||||||||||||||||
Benefit obligation, beginning of year | $ | 256,142 | $ | 240,806 | $ | 403 | $ | 566 | |||||||||||
Liabilities assumed through acquisitions | — | 14,716 | — | — | |||||||||||||||
Service cost | 3,191 | 3,061 | — | 9 | |||||||||||||||
Interest cost | 10,361 | 9,886 | 18 | 22 | |||||||||||||||
Actuarial (gain) loss | 12,923 | 1,851 | 7 | -58 | |||||||||||||||
Participant contributions | 34 | 59 | — | — | |||||||||||||||
Curtailments | — | -1,507 | — | -135 | |||||||||||||||
Benefits paid | -9,694 | -15,925 | -1 | -1 | |||||||||||||||
Foreign currency exchange rate changes | -5,940 | 3,195 | — | ||||||||||||||||
Benefit obligation, end of year | $ | 267,017 | $ | 256,142 | $ | 427 | $ | 403 | |||||||||||
Changes in plan assets | |||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 175,484 | $ | 153,927 | $ | — | $ | — | |||||||||||
Assets acquired through acquisitions | — | 6,680 | — | — | |||||||||||||||
Actual return on plan assets | 12,487 | 16,759 | — | — | |||||||||||||||
Employer contributions | 12,985 | 12,316 | 1 | 1 | |||||||||||||||
Employee contributions | 34 | 59 | — | — | |||||||||||||||
Benefits paid | -9,694 | -15,925 | -1 | -1 | |||||||||||||||
Foreign currency exchange rate changes | -2,434 | 1,668 | — | ||||||||||||||||
Fair value of plan assets, end of year | $ | 188,862 | $ | 175,484 | $ | — | $ | — | |||||||||||
Accrued Benefit Cost | $ | -78,155 | $ | -80,658 | $ | -427 | $ | -403 | |||||||||||
Range of assumptions: | |||||||||||||||||||
Discount rate | 2.0% | - | 13.5% | 1.8% | - | 13.0% | 4.7% | 4.7% | |||||||||||
Expected return on plan assets | 2.0% | - | 7.5% | 3.6% | - | 7.8% | N/A | N/A | |||||||||||
Rate of compensation increase | 2.3% | - | 5.5% | 2.3% | - | 5.5% | N/A | N/A | |||||||||||
Schedule of Components of Net Periodic (Benefit) Cost | ' | ||||||||||||||||||
Pension and Deferred | |||||||||||||||||||
Compensation Benefits | Other Benefits | ||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||
Service cost | $ | 3,191 | $ | 3,061 | $ | 2,048 | $ | — | $ | 9 | $ | 12 | |||||||
Interest cost | 10,361 | 9,886 | 10,593 | 18 | 22 | 27 | |||||||||||||
Expected return on assets | -9,894 | -8,667 | -8,225 | — | — | — | |||||||||||||
Amortization of prior year service cost | — | — | 72 | — | — | — | |||||||||||||
Curtailment gain | -93 | -752 | — | — | — | — | |||||||||||||
Recognized net actuarial (gain) loss | 1,461 | 2,112 | 828 | — | 8 | -54 | |||||||||||||
Net periodic benefit cost (benefit) | $ | 5,026 | $ | 5,640 | $ | 5,316 | $ | 18 | $ | 39 | $ | -15 | |||||||
Schedule of Allocation of Pension Plan Assets | ' | ||||||||||||||||||
Weighted Average | |||||||||||||||||||
Allocation | |||||||||||||||||||
Target | Actual | ||||||||||||||||||
Asset Category | 2014 | 2014 | 2013 | ||||||||||||||||
Equity Securities | 0 | - | 60 | % | 25 | % | 47 | % | |||||||||||
Fixed Income Securities | 0 | - | 40 | % | 27 | % | 21 | % | |||||||||||
Other | 0 | - | 100 | % | 48 | % | 32 | % | |||||||||||
Total | 100% | 100 | % | 100 | % | ||||||||||||||
Schedule of Fair Value of Pension Plan Assets | ' | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||
Equity Securities | |||||||||||||||||||
U.S. equity securities | $ | 19,949 | $ | 7,098 | $ | — | $ | 27,047 | |||||||||||
Foreign equity securities | 11,100 | 7,551 | — | 18,651 | |||||||||||||||
Debt Securities | |||||||||||||||||||
U.S. bonds | 4,026 | 15,196 | — | 19,222 | |||||||||||||||
Foreign bonds | 3,131 | 20,463 | — | 23,594 | |||||||||||||||
Foreign government bonds | — | 8,565 | — | 8,565 | |||||||||||||||
Real estate | 1,254 | 5,889 | — | 7,143 | |||||||||||||||
Life insurance contracts | — | 37,734 | — | 37,734 | |||||||||||||||
Other | — | 38,688 | — | 38,688 | |||||||||||||||
Foreign cash & cash equivalents | 6,368 | 1,850 | — | 8,218 | |||||||||||||||
Total Defined Benefit Plan Assets | $ | 45,828 | $ | 143,034 | $ | — | $ | 188,862 | |||||||||||
The following table sets forth the fair value of the Company’s pension plan assets as of September 30, 2013 segregated by | |||||||||||||||||||
level within the fair value hierarchy. | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Defined Benefit Plan Assets: | |||||||||||||||||||
Equity Securities | |||||||||||||||||||
U.S. equity securities | $ | 18,497 | $ | 15,458 | $ | — | $ | 33,955 | |||||||||||
Foreign equity securities | 10,792 | 37,641 | — | 48,433 | |||||||||||||||
Debt Securities | |||||||||||||||||||
U.S. bonds | 2,279 | 15,578 | — | 17,857 | |||||||||||||||
Foreign bonds | — | 10,688 | — | 10,688 | |||||||||||||||
Foreign government bonds | — | 7,994 | — | 7,994 | |||||||||||||||
Real estate | 1,204 | 5,391 | — | 6,595 | |||||||||||||||
Life insurance contracts | — | 37,690 | — | 37,690 | |||||||||||||||
Other | — | 355 | — | 355 | |||||||||||||||
Foreign cash & cash equivalents | 6,658 | 5,259 | — | 11,917 | |||||||||||||||
Total Defined Benefit Plan Assets | $ | 39,430 | $ | 136,054 | $ | — | $ | 175,484 | |||||||||||
Schedule of Expected Future Pension Benefit Payments | ' | ||||||||||||||||||
2015 | $ | 12,288 | |||||||||||||||||
2016 | 10,548 | ||||||||||||||||||
2017 | 10,743 | ||||||||||||||||||
2018 | 11,244 | ||||||||||||||||||
2019 | 12,275 | ||||||||||||||||||
2020-2024 | 65,315 | ||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Segment Information [Abstract] | ' | |||||||||
Net Sales to External Customers | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Consumer batteries | $ | 957,837 | $ | 931,647 | $ | 948,652 | ||||
Small appliances | 730,783 | 740,289 | 771,568 | |||||||
Electric shaving and grooming | 278,315 | 276,783 | 279,468 | |||||||
Electric personal care | 263,775 | 254,858 | 250,251 | |||||||
Global Batteries & Appliances | 2,230,710 | 2,203,577 | 2,249,939 | |||||||
Hardware & Home Improvement | 1,165,996 | 869,631 | — | |||||||
Global Pet Supplies | 600,537 | 621,834 | 615,508 | |||||||
Home and Garden | 431,866 | 390,539 | 386,988 | |||||||
Total segments | $ | 4,429,109 | $ | 4,085,581 | $ | 3,252,435 | ||||
Depreciation and Amortization | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 73,077 | $ | 67,229 | $ | 63,618 | ||||
Hardware & Home Improvement | 40,388 | 31,364 | — | |||||||
Global Pet Supplies | 31,565 | 29,615 | 27,702 | |||||||
Home and Garden Business | 12,600 | 11,685 | 13,296 | |||||||
Total segments | 157,630 | 139,893 | 104,616 | |||||||
Corporate | — | — | — | |||||||
Total Depreciation and amortization | $ | 157,630 | $ | 139,893 | $ | 104,616 | ||||
Segment Profit | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 256,524 | $ | 237,544 | $ | 244,442 | ||||
Hardware & Home Improvement | 172,217 | 88,668 | — | |||||||
Global Pet Supplies | 82,371 | 91,080 | 85,866 | |||||||
Home and Garden | 89,255 | 78,483 | 73,609 | |||||||
Total segments | 600,367 | 495,775 | 403,917 | |||||||
Corporate expense | 75,437 | 62,141 | 51,514 | |||||||
Acquisition and integration related charges | 20,102 | 48,445 | 31,066 | |||||||
Restructuring and related charges | 22,895 | 34,012 | 19,591 | |||||||
Interest expense | 202,118 | 375,625 | 191,911 | |||||||
Other expense, net | 6,286 | 3,506 | 878 | |||||||
Income (loss) from continuing operations before income taxes | $ | 273,529 | $ | -27,954 | $ | 108,957 | ||||
Segment Total Assets | ' | |||||||||
September 30, | ||||||||||
2014 | 2013 | |||||||||
Global Batteries & Appliances | $ | 2,152,003 | $ | 2,360,733 | ||||||
Hardware & Home Improvement | 1,629,020 | 1,735,629 | ||||||||
Global Pet Supplies | 890,372 | 948,832 | ||||||||
Home and Garden | 526,596 | 500,559 | ||||||||
Total segment assets | 5,197,991 | 5,545,753 | ||||||||
Corporate | 315,038 | 80,920 | ||||||||
Total assets at period end | $ | 5,513,029 | $ | 5,626,673 | ||||||
Capital Expenditures | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
Global Batteries & Appliances | $ | 40,347 | $ | 47,928 | $ | 36,271 | ||||
Hardware & Home Improvement | 21,167 | 23,385 | — | |||||||
Global Pet Supplies | 5,267 | 8,268 | 7,447 | |||||||
Home and Garden Business | 6,566 | 2,395 | 3,091 | |||||||
Total segments | 73,347 | 81,976 | 46,809 | |||||||
Corporate | — | — | — | |||||||
Total Capital expenditures | $ | 73,347 | $ | 81,976 | $ | 46,809 | ||||
Geographic DisclosuresbNet Sales to External Customers | ' | |||||||||
2014 | 2013 | 2012 | ||||||||
United States | $ | 2,640,698 | $ | 2,411,409 | $ | 1,772,138 | ||||
Outside the United States | 1,788,411 | 1,674,172 | 1,480,297 | |||||||
Total net sales to external customers | $ | 4,429,109 | $ | 4,085,581 | $ | 3,252,435 | ||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||
Sep. 30, 2014 | ||||
Commitments and Contingencies [Abstract] | ' | |||
Schedule of Future Minimum Rental Commitments Under Operating Leases | ' | |||
2015 | $ | 37,202 | ||
2016 | 33,246 | |||
2017 | 28,373 | |||
2018 | 19,034 | |||
2019 | 14,361 | |||
Thereafter | 31,872 | |||
Total minimum lease payments | $ | 164,088 | ||
Restructuring_And_Related_Char1
Restructuring And Related Charges (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Restructuring and Related Cost [Abstract] | ' | |||||||||||||||
Summarized Restructuring And Related Charges Inccurred By Segment | ' | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Cost of goods sold: | ||||||||||||||||
Global Batteries & Appliances | $ | 648 | $ | 1,143 | $ | 5,094 | ||||||||||
Hardware & Home Improvement | 2,641 | 6,246 | — | |||||||||||||
Global Pet Supplies | 424 | 2,595 | 4,741 | |||||||||||||
Total restructuring and related charges in cost of goods sold | $ | 3,713 | $ | 9,984 | $ | 9,835 | ||||||||||
Operating expenses: | ||||||||||||||||
Global Batteries & Appliances | $ | 10,458 | $ | 13,627 | $ | 2,487 | ||||||||||
Hardware & Home Improvement | 5,628 | — | — | |||||||||||||
Global Pet Supplies | 2,563 | 8,556 | 5,395 | |||||||||||||
Home and Garden | — | 598 | 912 | |||||||||||||
Corporate | 533 | 1,247 | 962 | |||||||||||||
Total restructuring and related charges in operating expenses | $ | 19,182 | $ | 24,028 | $ | 9,756 | ||||||||||
Total restructuring and related charges | $ | 22,895 | $ | 34,012 | $ | 19,591 | ||||||||||
Summarized Restructuring and Related Charges Incurred by Type of Charge | ' | |||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Cost of goods sold: | ||||||||||||||||
Global Expense Rationalization initiatives: | ||||||||||||||||
Termination benefits | $ | 971 | $ | 2 | $ | — | ||||||||||
Other associated costs | 37 | — | — | |||||||||||||
Global Cost Reduction initiatives: | ||||||||||||||||
Termination benefits | 2 | 228 | 2,941 | |||||||||||||
Other associated costs | 62 | 3,330 | 6,894 | |||||||||||||
Other restructuring initiatives: | ||||||||||||||||
Termination benefits | — | 146 | — | |||||||||||||
Other associated costs | 2,641 | 6,278 | — | |||||||||||||
Total included in cost of goods sold | $ | 3,713 | $ | 9,984 | $ | 9,835 | ||||||||||
Costs included in operating expenses: | ||||||||||||||||
HHI Business Rationalization initiatives: | ||||||||||||||||
Termination benefits | $ | 4,511 | $ | — | $ | — | ||||||||||
Global Expense Rationalization initiatives: | ||||||||||||||||
Termination benefits | 5,497 | 10,259 | — | |||||||||||||
Other associated costs | 6,868 | 1,056 | — | |||||||||||||
Global Cost Reduction initiatives: | ||||||||||||||||
Termination benefits | 244 | 6,351 | 3,079 | |||||||||||||
Other associated costs | 1,010 | 6,443 | 5,776 | |||||||||||||
Other restructuring initiatives: | ||||||||||||||||
Other associated costs | 1,052 | -81 | 901 | |||||||||||||
Total included in operating expenses | $ | 19,182 | $ | 24,028 | $ | 9,756 | ||||||||||
Total restructuring and related charges | $ | 22,895 | $ | 34,012 | $ | 19,591 | ||||||||||
Global Expense Rationalization Initiatives [Member] | ' | |||||||||||||||
Restructuring and Related Cost [Abstract] | ' | |||||||||||||||
Summarized Restructuring And Related Charges Inccurred By Segment | ' | |||||||||||||||
Global | ||||||||||||||||
Batteries & | Global Pet | |||||||||||||||
Appliances | Supplies | Corporate | Total | |||||||||||||
Restructuring and related charges during fiscal 2014 | $ | 11,072 | $ | 1,768 | $ | 533 | $ | 13,373 | ||||||||
Restructuring and related charges since initiative inception | $ | 21,142 | $ | 1,768 | $ | 1,781 | $ | 24,691 | ||||||||
Total future restructuring and related charges expected | $ | 13,483 | $ | 5,748 | $ | 2,495 | $ | 21,726 | ||||||||
Summarized Restructuring and Related Charges Incurred by Type of Charge | ' | |||||||||||||||
Termination | Other | |||||||||||||||
Benefits | Costs | Total | ||||||||||||||
Accrual balance at September 30, 2013 | $ | 7,320 | $ | -35 | $ | 7,285 | ||||||||||
Provisions | 3,462 | 1,490 | 4,952 | |||||||||||||
Cash expenditures | -7,041 | — | -7,041 | |||||||||||||
Non-cash items | 303 | -26 | 277 | |||||||||||||
Accrual balance at September 30, 2014 | $ | 4,044 | $ | 1,429 | $ | 5,473 | ||||||||||
Expensed as incurred (A) | $ | 3,006 | $ | 5,415 | $ | 8,421 | ||||||||||
_____________________________ | ||||||||||||||||
(A) | Consists of amounts not impacting the accrual for restructuring and related charges. | |||||||||||||||
Global Cost Reduction Initiative [Member] | ' | |||||||||||||||
Restructuring and Related Cost [Abstract] | ' | |||||||||||||||
Summarized Restructuring And Related Charges Inccurred By Segment | ' | |||||||||||||||
Global | ||||||||||||||||
Batteries & | Global Pet | Home and | ||||||||||||||
Appliances | Supplies | Garden | Corporate | Total | ||||||||||||
Restructuring and related charges during fiscal 2014 | $ | 99 | $ | 1,219 | $ | — | $ | — | $ | 1,318 | ||||||
Restructuring and related charges since initiative inception | $ | 25,512 | $ | 49,368 | $ | 18,219 | $ | 7,591 | $ | 100,690 | ||||||
Total future restructuring and related charges expected | $ | 767 | $ | 3,618 | $ | — | $ | — | $ | 4,385 | ||||||
Summarized Restructuring and Related Charges Incurred by Type of Charge | ' | |||||||||||||||
Termination | Other | |||||||||||||||
Benefits | Costs | Total | ||||||||||||||
Accrual balance at September 30, 2013 | $ | 4,927 | $ | 424 | $ | 5,351 | ||||||||||
Provisions | 232 | 2 | 234 | |||||||||||||
Cash expenditures | -3,541 | -741 | -4,282 | |||||||||||||
Non-cash items | -289 | 475 | 186 | |||||||||||||
Accrual balance at September 30, 2014 | $ | 1,329 | $ | 160 | $ | 1,489 | ||||||||||
Expensed as incurred (A) | $ | 17 | $ | 1,067 | $ | 1,084 | ||||||||||
______________________________ | ||||||||||||||||
(A) | Consists of amounts not impacting the accrual for restructuring and related charges. | |||||||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
HHI Business [Member] | ' | |||||||
Schedule of Business Acquisition, Pro Forma Results | ' | |||||||
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. | |||||||
Liquid Fence [Member] | ' | |||||||
Summarized Consideration Paid for Acquisition | ' | |||||||
Cash paid to seller at close | $ | 24,800 | ||||||
Promissory note due to seller | 9,500 | |||||||
Contingent consideration | 1,500 | |||||||
Working capital adjustment | 45 | |||||||
Purchase price | $ | 35,845 | ||||||
Valuation Of Assets Acquired And Liabilities Assumed | ' | |||||||
Cash | $ | 46 | ||||||
Accounts receivable | 1,152 | |||||||
Inventories | 2,188 | |||||||
Property, plant and equipment, net | 59 | |||||||
Intangible assets | 26,900 | |||||||
Total assets acquired | $ | 30,345 | ||||||
Total liabilities assumed | 1,588 | |||||||
Total identifiable net assets less goodwill | 28,757 | |||||||
Goodwill | 7,088 | |||||||
Total identifiable net assets | $ | 35,845 | ||||||
Quarterly_Results_Tables
Quarterly Results (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Quarterly Results [Abstract] | ' | ||||||||||||
Schedule of Quarterly Results | ' | ||||||||||||
Fiscal 2014: | |||||||||||||
Quarter Ended | |||||||||||||
30-Sep-14 | 29-Jun-14 | 30-Mar-14 | 29-Dec-13 | ||||||||||
Net sales | $ | 1,178,312 | $ | 1,128,509 | $ | 1,021,688 | $ | 1,100,600 | |||||
Gross profit | 411,001 | 417,037 | 359,624 | 381,207 | |||||||||
Net income attributable to controlling interest | 47,937 | 78,055 | 33,811 | 54,289 | |||||||||
Basic net income per common share attributable to controlling interest | $ | 0.91 | $ | 1.48 | $ | 0.64 | $ | 1.04 | |||||
Diluted net income per common share attributable to controlling interest | $ | 0.90 | $ | 1.47 | $ | 0.64 | $ | 1.03 | |||||
Fiscal 2013: | |||||||||||||
Quarter Ended | |||||||||||||
30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 30-Dec-12 | ||||||||||
Net sales | $ | 1,137,732 | $ | 1,089,825 | $ | 987,756 | $ | 870,268 | |||||
Gross profit | 396,493 | 382,759 | 322,904 | 288,156 | |||||||||
Net income (loss) attributable to controlling interest | -36,705 | 36,130 | -41,232 | -13,439 | |||||||||
Basic net income (loss) per common share attributable to controlling interest | $ | -0.7 | $ | 0.69 | $ | -0.79 | $ | -0.26 | |||||
Diluted net (loss) income per common share attributable to controlling interest | $ | -0.7 | $ | 0.69 | $ | -0.79 | $ | -0.26 | |||||
Description_Of_Business_Detail
Description Of Business (Details) | 12 Months Ended |
Sep. 30, 2014 | |
item | |
segment | |
country | |
Description Of Business [Abstract] | ' |
Number of countries in which Company sells its products | 160 |
Number of years certain brands have been in existence | '80 years |
Number of major product categories | 7 |
Number of reporting segments | 4 |
Significant_Accounting_Policie3
Significant Accounting Policies And Practices (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Oct. 21, 2010 | Jun. 30, 2010 | Sep. 30, 2014 | Oct. 21, 2010 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
2007 Omnibus Equity Award Plan [Member] | 2007 Omnibus Equity Award Plan [Member] | 2011 Omnibus Equity Award Plan [Member] | 2011 Omnibus Equity Award Plan [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Outside of the United States [Member] | Outside of the United States [Member] | Outside of the United States [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer One [Member] | Customer Lists, Proprietary Technology and Certain Trade Name Intangibles [Member] | Permanent Fixtures [Member] | Permanent Fixtures [Member] | Global Batteries & Appliances [Member] | Hardware & Home Improvement [Member] | Global Pet Supplies [Member] | Home and Garden Business [Member] | |||||
Minimum [Member] | Maximum [Member] | Time Based RSUs 1 Year Vesting [Member] | Time Based RSUs 1 Year Vesting [Member] | Time Based RSUs 1 Year Vesting [Member] | Vested Immediately [Member] | Performance And Time Based RSUs 2 Year Vesting [Member] | Performance Based RSUs [Member] | Performance Based RSUs [Member] | Performance Based RSUs [Member] | Performance Based RSUs 1 Year Vesting [Member] | Performance Based RSUs 1 Year Vesting [Member] | Net Sales [Member] | Net Sales [Member] | Net Sales [Member] | customer | Net Sales [Member] | Net Sales [Member] | Net Sales [Member] | Trade Accounts Receivable [Member] | Trade Accounts Receivable [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of major customers accounting for a significant percentage of sales volume | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | 41.00% | 46.00% | ' | 16.00% | 18.00% | 23.00% | 14.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' |
Estimated Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' | ' | ' | ' |
Fair value in excess of carrying value, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87.00% | 47.00% | 80.00% | 146.00% |
Remaining useful lives of finite lived intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' |
Accumulated (losses) gains related to foreign currency translation adjustments | ($39,517) | ($7,050) | ($225) | $8,377 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exchange losses on foreign currency transactions | 6,775 | 9,388 | 1,654 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shipping and handling costs | 260,321 | 246,090 | 198,152 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising Expense | 21,356 | 22,971 | 20,706 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares that could be issued under Plan | ' | ' | ' | ' | 0 | 600 | ' | 5,626 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional shares authorized | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | 46,809 | 43,861 | 29,164 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares granted | ' | ' | ' | ' | ' | ' | ' | ' | 669 | 700 | 863 | ' | ' | 143 | 48 | 160 | 203 | 562 | 323 | 652 | 703 | 90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining unrecognized pre-tax compensation cost | 11,815 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | '1 year | '1 year | '1 year | ' | ' | '2 years | ' | ' | '1 year | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market values of restricted stock units on date of grant | ' | ' | ' | ' | ' | ' | ' | ' | $50,507 | $32,176 | $24,408 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant_Accounting_Policie4
Significant Accounting Policies And Practices (Depreciable Lives By Major Classification) (Details) | 12 Months Ended |
Sep. 30, 2014 | |
Minimum [Member] | Building And Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depriciable lives | '20 years |
Minimum [Member] | Machinery, Equipment And Other [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depriciable lives | '2 years |
Maximum [Member] | Building And Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depriciable lives | '40 years |
Maximum [Member] | Machinery, Equipment And Other [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depriciable lives | '15 years |
Significant_Accounting_Policie5
Significant Accounting Policies And Practices (Net Income (Loss) Per Common Share) (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Significant Accounting Policies And Practices [Abstract] | ' | ' | ' |
Basic | 52,634 | 52,034 | 51,608 |
Effect of restricted stock | 627 | ' | 1,701 |
Diluted | 53,261 | 52,034 | 53,309 |
Significant_Accounting_Policie6
Significant Accounting Policies And Practices (Accumulated Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning balance | ($7,050) | ($225) | $8,377 |
Gross change before reclassification adjustment | -32,528 | -6,622 | -8,602 |
Gross change after reclassification adjustment | -32,528 | -6,622 | -8,602 |
Deferred tax effect | ' | ' | ' |
Deferred tax valuation allowance | ' | ' | ' |
Other Comprehensive Income (Loss) | -32,528 | -6,622 | -8,602 |
Noncontrolling interest | -61 | 203 | ' |
Comprehensive income (loss) attributable to controlling interest | -39,517 | -7,050 | -225 |
Beginning balance | -2,291 | 218 | -1,327 |
Gross change before reclassification adjustment | 13,154 | -2,013 | -1,824 |
Net reclassification adjustment for (gains) losses included in earnings | 2,557 | -920 | 3,097 |
Gross change after reclassification adjustment | 15,711 | -2,933 | 1,273 |
Deferred tax effect | -4,225 | -234 | -636 |
Deferred tax valuation allowance | 45 | 658 | 908 |
Other Comprehensive Income (Loss) | 11,531 | -2,509 | 1,545 |
Ending balance | 9,240 | -2,291 | 218 |
Beginning balance | -29,180 | -33,428 | -21,496 |
Gross change before reclassification adjustment | -6,600 | 8,097 | -15,682 |
Gross change after reclassification adjustment | -5,232 | 9,457 | -14,782 |
Deferred tax effect | 2,954 | -5,123 | 3,632 |
Deferred tax valuation allowance | -1,339 | -86 | -782 |
Other Comprehensive Income (Loss) | -3,617 | 4,248 | -11,932 |
Ending balance | -32,797 | -29,180 | -33,428 |
Other comprehensive loss, net of tax | -24,614 | -4,883 | -18,989 |
Total ending AOCI | -63,074 | -38,521 | -33,435 |
Cost of Goods Sold [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Net reclassification adjustment for losses included in Statement Of Operations | 582 | 1,571 | 900 |
Selling and Marketing Expense [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Net reclassification adjustment for losses included in Statement Of Operations | 295 | -584 | ' |
General and Administrative Expense [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Net reclassification adjustment for losses included in Statement Of Operations | $491 | $373 | ' |
Significant_Accounting_Policie7
Significant Accounting Policies And Practices (Schedule Of Share-Based Compensation, Restricted Stock And Restricted Stock Units Activity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Beginning balance, shares | ' | 13 | 123 |
Vested, Shares | ' | -13 | -110 |
Ending balance, Shares | ' | ' | 13 |
Beginning balance, Weighted Average Grant Date Fair Value | ' | $28 | $24.20 |
Vested, Weighted Average Grant Date Fair Value | ' | $28 | $23.75 |
Ending balance, Weighted Average Grant Date Fair Value | ' | ' | $28 |
Beginning balance, Grant Date Fair Value, Beginning Balance | ' | $364 | $2,977 |
Vested, Fair Value At Grant Date | ' | -364 | -2,613 |
Ending balance, Grant Date Fair Value | ' | ' | 364 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Beginning balance, shares | 1,118 | 1,931 | 1,645 |
Granted, Shares | 669 | 700 | 863 |
Forfeited, Shares | -6 | -302 | -57 |
Vested, Shares | -954 | -1,211 | -520 |
Ending balance, Shares | 827 | 1,118 | 1,931 |
Beginning balance, Weighted Average Grant Date Fair Value | $39.11 | $28.45 | $28.97 |
Granted, Weighted Average Grant Date Fair Value | $75.50 | $45.97 | $28.28 |
Forfeitures, Weighted Average Grant Date Fair Value | $69.33 | $30.36 | $28.49 |
Vested, Weighted Average Grant Date Fair Value | $39.69 | $28.25 | $29.83 |
Ending balance, Weighted Average Grant Date Fair Value | $67.66 | $39.11 | $28.45 |
Beginning balance, Grant Date Fair Value, Beginning Balance | 43,723 | 54,931 | 47,656 |
Granted, Fair Value At Grant Date | 50,507 | 32,176 | 24,408 |
Forfeited, Fair Value At Grant Date | -416 | -9,168 | -1,624 |
Vested, Fair Value At Grant Date | -37,860 | -34,216 | -15,509 |
Ending balance, Grant Date Fair Value | $55,954 | $43,723 | $54,931 |
Significant_Accounting_Policie8
Significant Accounting Policies And Practices (Business Acquisition, Integration, Restructuring And Other Related Costs) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | $20,102 | $48,445 | $31,066 |
Russell Hobbs Merger [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Integration costs | 2,421 | 3,452 | 10,168 |
Employee termination charges (credits) | 30 | 217 | 3,900 |
Legal and professional fees | 9 | 39 | 1,495 |
Acquisition and integration related charges | 2,460 | 3,708 | 15,563 |
HHI Business [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Integration costs | 8,691 | 8,864 | ' |
Employee termination charges (credits) | 155 | 356 | ' |
Legal and professional fees | 2,192 | 27,712 | ' |
Acquisition and integration related charges | 11,038 | 36,932 | ' |
Liquid Fence [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | 3,475 | ' | ' |
Shaser, Inc. [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | 930 | 4,828 | ' |
FURminator [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | 53 | 2,270 | 7,938 |
Black Flag [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | ' | 154 | 3,379 |
(Credits) Other [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Acquisition and integration related charges | $2,146 | $553 | $4,186 |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw materials | $104,129 | $97,290 |
Work-in-process | 35,259 | 40,626 |
Finished goods | 485,147 | 495,007 |
Inventories | $624,535 | $632,923 |
Property_Plant_And_Equipment_D
Property, Plant And Equipment (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $693,402 | $616,448 |
Accumulated depreciation | -264,525 | -203,897 |
Property, plant and equipment, net | 428,877 | 412,551 |
Land, Buildings And Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 159,811 | 164,654 |
Machinery, Equipment And Other [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 402,931 | 338,335 |
Capitalized Leases [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 98,461 | 66,791 |
Construction In Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $32,199 | $46,668 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Finite-Lived Intangible Assets [Line Items] | ' |
Estimated annual amortization expense of intangible assets for the next five fiscal years | $77,500 |
Global Batteries & Appliances [Member] | Minimum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '9 years |
Global Batteries & Appliances [Member] | Minimum [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '15 years |
Global Batteries & Appliances [Member] | Minimum [Member] | Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '1 year |
Global Batteries & Appliances [Member] | Maximum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '17 years |
Global Batteries & Appliances [Member] | Maximum [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '20 years |
Global Batteries & Appliances [Member] | Maximum [Member] | Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '12 years |
Hardware & Home Improvement [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '20 years |
Hardware & Home Improvement [Member] | Minimum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '8 years |
Hardware & Home Improvement [Member] | Minimum [Member] | Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '5 years |
Hardware & Home Improvement [Member] | Maximum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '9 years |
Hardware & Home Improvement [Member] | Maximum [Member] | Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '8 years |
Global Pet Supplies [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '20 years |
Global Pet Supplies [Member] | Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '3 years |
Global Pet Supplies [Member] | Minimum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '4 years |
Global Pet Supplies [Member] | Maximum [Member] | Technology Assets [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '9 years |
Home and Garden Business [Member] | Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Useful life of intangible asset | '20 years |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Schedule of Goodwill and Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill: Balance | $1,476,672 | $694,245 | ' |
Additions | 10,548 | 786,616 | ' |
Effect of translation | -17,659 | -4,189 | ' |
Goodwill: Balance | 1,469,561 | 1,476,672 | 694,245 |
Trade names Not Subject to Amortization: Balance | 1,178,050 | 841,068 | ' |
Additions | 5,100 | 331,000 | ' |
Effect of translation | -8,876 | 5,982 | ' |
Trade names Not Subject to Amortization: Balance | 1,174,274 | 1,178,050 | 841,068 |
Intangible Assets Subject to Amortization: Balance | 985,116 | 873,861 | ' |
Additions | 23,588 | 188,281 | ' |
Amortization during period | -81,728 | -77,779 | -63,666 |
Effect of translation | -9,711 | 753 | ' |
Intangible Assets Subject to Amortization: Balance | 917,265 | 985,116 | 873,861 |
Total Intangible Assets, net | 2,091,539 | 2,163,166 | ' |
Global Batteries & Appliances [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill: Balance | 333,500 | 268,556 | ' |
Additions | ' | 67,149 | ' |
Effect of translation | -6,085 | -2,205 | ' |
Goodwill: Balance | 327,415 | 333,500 | ' |
Trade names Not Subject to Amortization: Balance | 547,353 | 545,426 | ' |
Additions | ' | ' | ' |
Effect of translation | -2,804 | 1,927 | ' |
Trade names Not Subject to Amortization: Balance | 544,549 | 547,353 | ' |
Intangible Assets Subject to Amortization: Balance | 440,776 | 447,112 | ' |
Additions | ' | 29,379 | ' |
Amortization during period | -34,998 | -35,553 | ' |
Effect of translation | -5,429 | -162 | ' |
Intangible Assets Subject to Amortization: Balance | 400,349 | 440,776 | ' |
Total Intangible Assets, net | 944,898 | ' | ' |
Hardware & Home Improvement [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill: Balance | 714,724 | ' | ' |
Additions | 3,460 | 717,853 | ' |
Effect of translation | -8,377 | -3,129 | ' |
Goodwill: Balance | 709,807 | 714,724 | ' |
Trade names Not Subject to Amortization: Balance | 330,771 | ' | ' |
Additions | ' | 331,000 | ' |
Effect of translation | -205 | -229 | ' |
Trade names Not Subject to Amortization: Balance | 330,566 | 330,771 | ' |
Intangible Assets Subject to Amortization: Balance | 146,461 | ' | ' |
Additions | ' | 158,100 | ' |
Amortization during period | -14,758 | -11,372 | ' |
Effect of translation | -1,171 | -267 | ' |
Intangible Assets Subject to Amortization: Balance | 130,532 | 146,461 | ' |
Total Intangible Assets, net | 461,098 | ' | ' |
Global Pet Supplies [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill: Balance | 239,077 | 237,932 | ' |
Additions | ' | ' | ' |
Effect of translation | -3,197 | 1,145 | ' |
Goodwill: Balance | 235,880 | 239,077 | ' |
Trade names Not Subject to Amortization: Balance | 216,426 | 212,142 | ' |
Additions | ' | ' | ' |
Effect of translation | -5,867 | 4,284 | ' |
Trade names Not Subject to Amortization: Balance | 210,559 | 216,426 | ' |
Intangible Assets Subject to Amortization: Balance | 245,227 | 264,622 | ' |
Additions | 1,788 | 802 | ' |
Amortization during period | -21,578 | -21,379 | ' |
Effect of translation | -3,111 | 1,182 | ' |
Intangible Assets Subject to Amortization: Balance | 222,326 | 245,227 | ' |
Total Intangible Assets, net | 432,885 | ' | ' |
Home and Garden Business [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill: Balance | 189,371 | 187,757 | ' |
Additions | 7,088 | 1,614 | ' |
Effect of translation | ' | ' | ' |
Goodwill: Balance | 196,459 | 189,371 | ' |
Trade names Not Subject to Amortization: Balance | 83,500 | 83,500 | ' |
Additions | 5,100 | ' | ' |
Effect of translation | ' | ' | ' |
Trade names Not Subject to Amortization: Balance | 88,600 | 83,500 | ' |
Intangible Assets Subject to Amortization: Balance | 152,652 | 162,127 | ' |
Additions | 21,800 | ' | ' |
Amortization during period | -10,394 | -9,475 | ' |
Effect of translation | ' | ' | ' |
Intangible Assets Subject to Amortization: Balance | 164,058 | 152,652 | ' |
Total Intangible Assets, net | $252,658 | ' | ' |
Goodwill_And_Intangible_Assets4
Goodwill And Intangible Assets (Intangibles Subject To Amortization) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total Intangible Assets, net Subject to Amortization | $917,265 | $985,116 | $873,861 |
Technology Assets [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross balance | 192,179 | 172,105 | ' |
Accumulated amortization | -57,567 | -39,028 | ' |
Total Intangible Assets, net Subject to Amortization | 134,612 | 133,077 | ' |
Trade Names [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross balance | 171,072 | 171,572 | ' |
Accumulated amortization | -60,997 | -44,660 | ' |
Total Intangible Assets, net Subject to Amortization | 110,075 | 126,912 | ' |
Customer Relationships [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross balance | 877,157 | 885,895 | ' |
Accumulated amortization | -204,579 | -160,768 | ' |
Total Intangible Assets, net Subject to Amortization | $672,578 | $725,127 | ' |
Goodwill_And_Intangible_Assets5
Goodwill And Intangible Assets (Indefinite Lived Intangibles) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | $81,728 | $77,779 | $63,666 |
Technology Assets [Member] | ' | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | 18,552 | 16,260 | 9,133 |
Trade Names [Member] | ' | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | 16,448 | 16,587 | 14,347 |
Customer Relationships [Member] | ' | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | $46,728 | $44,932 | $40,186 |
Debt_Narrative_Details
Debt (Narrative) (Details) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Dec. 16, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 15, 2012 | Mar. 12, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 18, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 16, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 04, 2013 | Dec. 18, 2013 | Dec. 18, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 04, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 17, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 03, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 17, 2012 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | 9.5% Notes [Member] | 9.5% Notes [Member] | 9.5% Notes [Member] | Tranche C And Euro Term Loan [Member] | Tranche C And Euro Term Loan [Member] | Refinancing Of Portion Of Term Loan [Member] | 6.375% Notes And 6.625% Notes [Member] | Due June 17, 2016 [Member] | Due September 4, 2017 [Member] | Due September 4, 2017 [Member] | Due September 4, 2017 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due June 15, 2018 [Member] | HHI Business [Member] | HHI Business [Member] | HHI Business [Member] | HHI Business [Member] | HHI Business [Member] | HHI Business [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
item | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Unsecured Debt [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Secured Debt [Member] | USD ($) | Senior Notes [Member] | Secured Debt [Member] | Secured Debt [Member] | 9.5% Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Revolving Credit Facility [Member] | Due June 17, 2016 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Unsecured Debt [Member] | 6.75% Notes [Member] | Unsecured Debt [Member] | 6.75% Notes [Member] | |||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | Euro [Member] | USD ($) | CAD | USD ($) | USD ($) | Senior Notes [Member] | USD ($) | USD ($) | USD ($) | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | ||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Canada, Dollars [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $370,175,000 | $648,383,000 | $850,000,000 | $850,000,000 | ' | ' | $509,850,000 | $300,000,000 | $300,000,000 | $283,339,000 | ' | $513,312,000 | 34,219,000 | ' | ' | $950,000,000 | ' | ' | ' | ' | $800,000,000 | $100,000,000 | ' | ' | ' | ' |
Unsecured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | 300,000,000 | ' | ' | 300,000,000 | ' | ' | ' | 520,000,000 | 520,000,000 | 520,000,000 | ' | 570,000,000 | 570,000,000 | 570,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 6.63% | ' | ' | ' | ' | ' | ' | ' | 6.75% | 6.75% | 6.75% | 6.75% | ' | ' | 6.75% | ' | 6.38% | 6.38% | 6.38% | 6.38% | ' | 6.38% | 6.63% | 6.63% | ' | 6.63% | 9.50% | 9.50% | 9.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset based lending revolving credit facility | ' | ' | ' | ' | 400,000,000 | ' | 400,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of debt tranches under amendment | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,000,000 | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accelerated amortization of unamortized discount and unamortized Debt issuance costs | ' | ' | ' | 9,216,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 283,339,000 | ' | ' | ' | 513,312,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fees recorded | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,236,000 | 261,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,328,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | 5,411,000 | 60,850,000 | 11,231,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,907,000 | ' | 5,485,000 | ' | ' | ' | ' | ' | ' |
Increase to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,000 | 2,086,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,421,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of discount on issuance of debt | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount on debt issued | ' | ' | ' | 5,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 510,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment to interest expense | 2,821,000 | -5,178,000 | -466,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance expense | 51,147,000 | 65,329,000 | ' | 16,381,000 | ' | 323,000 | ' | ' | ' | ' | ' | ' | ' | 6,265,000 | ' | ' | ' | ' | ' | ' | 12,906,000 | ' | ' | ' | 14,127,000 | ' | ' | ' | ' | ' | ' | 5,150,000 | 261,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 206,000 | ' | ' | ' | ' | ' | ' | ' |
Debt redemption notice period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | '60 days | ' |
Percentage of holders of aggregate outstanding principal amount to declare acceleration of amounts due in any event of default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' |
Debt price as percentage of par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt redemption notice period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | '60 days |
Percentage of aggregate outstanding principal amount needed to declare acceleration of amounts due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of debt issuance costs | 6,395,000 | 21,574,000 | 2,946,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate borrowing availability | ' | ' | ' | ' | 266,853,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lender reserves | ' | ' | ' | ' | 6,398,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding letters of credit | $0 | $0 | ' | ' | $51,032,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Schedule_Of_Debt_Details
Debt (Schedule Of Debt) (Details) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 17, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 15, 2012 | Mar. 12, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 04, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 04, 2013 | Sep. 30, 2014 | Dec. 17, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
USD ($) | USD ($) | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.375% due 2020 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | Notes 6.625% due 2022 [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | 6.75% Notes [Member] | Due September 4, 2017 [Member] | Due September 4, 2017 [Member] | Due September 4, 2017 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due September 4, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | Due December 17, 2019 [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Secured Debt [Member] | USD ($) | Senior Notes [Member] | Canada, Dollars [Member] | Canada, Dollars [Member] | Secured Debt [Member] | Secured Debt [Member] | |||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $648,383,000 | $850,000,000 | $850,000,000 | $509,850,000 | $300,000,000 | $300,000,000 | ' | $513,312,000 | 34,219,000 | $34,219,000 | $81,397,000 | ' | ' |
Term Loan, Secured | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 283,339,000 | ' | ' | ' | ' | ' | 513,312,000 |
Notes, Unsecured | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 520,000,000 | 520,000,000 | 520,000,000 | ' | 570,000,000 | 570,000,000 | 570,000,000 | ' | ' | ' | 300,000,000 | 300,000,000 | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ABL Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other notes and obligations | ' | ' | ' | ' | 36,584,000 | 28,468,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized lease obligations | ' | ' | ' | ' | ' | ' | 94,711,000 | 67,402,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate | ' | ' | 2.50% | 5.70% | 8.80% | 8.50% | 6.10% | 6.20% | ' | ' | ' | 6.40% | 6.40% | ' | ' | 6.60% | 6.60% | ' | ' | ' | ' | 6.80% | 6.80% | ' | ' | 3.00% | 3.00% | ' | 3.60% | 3.60% | ' | 3.80% | ' | ' | 5.10% | 5.10% | ' | 4.60% |
Gross Debt Obligations | 2,997,086,000 | 3,230,579,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original issuance discounts on debt | -6,213,000 | -11,716,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: current maturities | -96,736,000 | -102,921,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | $2,894,137,000 | $3,115,942,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | 6.63% | ' | ' | ' | ' | ' | ' | ' | 6.38% | 6.38% | 6.38% | 6.38% | ' | 6.38% | 6.63% | 6.63% | ' | 6.63% | 6.75% | 6.75% | 6.75% | 6.75% | ' | 6.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Aggregate_Scheduled_Matur
Debt (Aggregate Scheduled Maturities of Debt And Capital Lease Obligations) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Debt [Abstract] | ' | ' |
2015 | $96,736,000 | ' |
2016 | 75,990,000 | ' |
2017 | 559,244,000 | ' |
2018 | 13,049,000 | ' |
2019 | 766,459,000 | ' |
Thereafter | 1,485,608,000 | ' |
Gross Debt Obligations | $2,997,086,000 | $3,230,579,000 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Derivative [Line Items] | ' | ' |
Credit reserve on derivative assets | $48 | $5 |
Outstanding letters of credit | 0 | 0 |
Other Current Assets [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Posted cash collateral | 0 | 450 |
Interest Rate Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contract value of derivative | 300,000 | ' |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative net loss recorded in AOCI | 8,908 | 2,287 |
Tax expense (benefit) from net loss on derivative contracts | 3,413 | -637 |
Derivative net loss estimated to be reclassified from AOCI into earnings over the next 12 months | 8,658 | ' |
Contract value of derivative | 226,694 | 255,909 |
Cash Flow Hedging [Member] | Commodity Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative net loss recorded in AOCI | 1,007 | 4 |
Tax expense (benefit) from net loss on derivative contracts | 127 | -32 |
Derivative net loss estimated to be reclassified from AOCI into earnings over the next 12 months | 1,007 | ' |
Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative, fixed interest rate | 1.36% | ' |
Interest rate swaps outstanding | 300,000 | ' |
Derivative net loss recorded in AOCI | 704 | ' |
Tax expense (benefit) from net loss on derivative contracts | 0 | ' |
Derivative net loss estimated to be reclassified from AOCI into earnings over the next 12 months | 1,335 | ' |
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contract value of derivative | 108,855 | 108,480 |
Fair Value Hedging [Member] | Commodity Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contract value of derivative | 445 | 980 |
Swap contract, nonmonetary amount | 25 | 45 |
Zinc [Member] | Cash Flow Hedging [Member] | Commodity Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contract value of derivative | 17,376 | 16,235 |
Swap contract, nonmonetary amount | 8 | 8 |
Brass [Member] | Cash Flow Hedging [Member] | Commodity Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Contract value of derivative | $2,835 | ' |
Swap contract, nonmonetary amount | 1 | ' |
Derivative_Financial_Instruemn
Derivative Financial Instruemnts (Interest Rate Swap Derivatives) (Details) (Interest Rate Swaps [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Interest Rate Swaps [Member] | ' |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' |
Notional Amount | $300,000 |
Remainng Years | '2 years 6 months |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | $14,736 | $2,281 |
Liability Derivatives | 2,119 | 10,470 |
Commodity Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 1,276 | 419 |
Liability Derivatives | 195 | 505 |
Foreign Exchange Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 12,829 | 1,862 |
Liability Derivatives | 149 | 9,965 |
Interest Rate Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 631 | ' |
Liability Derivatives | 1,775 | ' |
Cash Flow Hedging [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 14,228 | 2,138 |
Liability Derivatives | 1,925 | 5,092 |
Cash Flow Hedging [Member] | Commodity Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 1,276 | 416 |
Cash Flow Hedging [Member] | Commodity Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | ' | 3 |
Cash Flow Hedging [Member] | Commodity Contracts [Member] | Accounts Payable [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 150 | 450 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 11,976 | 1,719 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 345 | ' |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | ' | 65 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | Accounts Payable [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | ' | 4,577 |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 631 | ' |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 1,335 | ' |
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Accrued Interest [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 440 | ' |
Fair Value Hedging [Member] | Commodity Contracts [Member] | Accounts Payable [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | 45 | 55 |
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives | 508 | 143 |
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | Accounts Payable [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Liability Derivatives | $149 | $5,323 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Impact Of Derivative Instruments On Condensed Consolidated Statement Of Operations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $13,154 | ($2,013) | ($1,824) |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | -2,557 | 920 | -3,097 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | -14 | -39 | 94 |
Commodity Contracts [Member] | Cost of Goods Sold [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | -1,610 | -2,615 | 1,606 |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | -906 | -632 | -1,148 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | -39 | 94 |
Interest Rate Contracts [Member] | Interest Expense [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 1,933 | ' | 15 |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | 763 | ' | -864 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | -14 | ' | ' |
Foreign Exchange Contracts [Member] | Cost of Goods Sold [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 12,684 | -282 | -3,506 |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | -2,624 | 632 | -611 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | ' |
Foreign Exchange Contracts [Member] | Net Sales [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 147 | 884 | 61 |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | 210 | 920 | -474 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | ' | ' | ' |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Other Changes In Fair Value Of Derivative Contracts) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | $3,016 | ($3,652) | $5,916 |
Commodity Contracts [Member] | Cost of Goods Sold [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | -99 | -55 | ' |
Foreign Exchange Contracts [Member] | Other Expense [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Gain (Loss) Recognized in Income on Derivatives | $3,115 | ($3,597) | $5,916 |
Fair_Value_Of_Financial_Instru2
Fair Value Of Financial Instruments (Net Derivative Portfolio) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | $14,736 | $2,281 |
Total Liabilities | -2,119 | -10,470 |
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 14,736 | 2,281 |
Total Liabilities | -2,119 | -10,470 |
Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Commodity Contracts [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 1,276 | 419 |
Total Liabilities | -195 | -505 |
Commodity Contracts [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Commodity Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 1,276 | 419 |
Total Liabilities | -195 | -505 |
Commodity Contracts [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Interest Rate Contracts [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 631 | ' |
Total Liabilities | -1,775 | ' |
Interest Rate Contracts [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Interest Rate Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 631 | ' |
Total Liabilities | -1,775 | ' |
Interest Rate Contracts [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Foreign Exchange Contracts [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 12,829 | 1,862 |
Total Liabilities | -149 | -9,965 |
Foreign Exchange Contracts [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Foreign Exchange Contracts [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | 12,829 | 1,862 |
Total Liabilities | -149 | -9,965 |
Foreign Exchange Contracts [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total Assets | ' | ' |
Total Liabilities | ' | ' |
Fair_Value_Of_Financial_Instru3
Fair Value Of Financial Instruments (Carrying Amounts And Fair Values Of Financial Instruments) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Debt, Carrying Amount | ($2,990,873) | ($3,218,863) |
Total Debt, Fair Value | -3,061,467 | -3,297,411 |
Commodity Contracts [Member] | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Debt, Carrying Amount | 1,081 | -86 |
Total Debt, Fair Value | 1,081 | -86 |
Interest Rate Swaps [Member] | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Debt, Carrying Amount | -1,144 | ' |
Total Debt, Fair Value | -1,144 | ' |
Foreign Exchange Contracts [Member] | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Total Debt, Carrying Amount | 12,680 | -8,103 |
Total Debt, Fair Value | $12,680 | ($8,103) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Taxes [Line Items] | ' | ' | ' | ' |
U.S. federal statutory rate | 35.00% | ' | ' | ' |
Distributed earnings of foreign subsidiaries | $190,497 | $12,506 | $21,163 | ' |
Foreign earnings not yet taxed in the U.S. | ' | 45,735 | 76,574 | ' |
Gross amount of taxable earnings on repatriation | 3,059 | 109 | ' | ' |
Tax expense related to distribution of foreign earnings | 74 | ' | 3,278 | ' |
Undistributed earnings of foreign subsidiaries | 351,483 | ' | ' | ' |
Distributions related to one-time internal restructuring and external debt refinancing activities | 178,716 | ' | ' | ' |
U.S. federal net operating loss carryforwards | 380,719 | 1,087,769 | ' | ' |
U.S. state net operating loss carryforwards | 70,285 | ' | ' | ' |
Additional federal and state operating loss carryforwards | 45,539 | ' | ' | ' |
Foreign operating loss carryforwards | 106,496 | ' | ' | ' |
Unrealized federal tax benefit related to federal operating loss carryforwards | 105,612 | ' | ' | ' |
U.S. federal operating loss carryforwards expected to expire unused | 301,749 | ' | ' | ' |
U.S. State operating loss carryforwards expected to exipre unused | 16,812 | ' | ' | ' |
Deferred tax assets, foreign operating loss carryforwards expected to expire unused | 88,769 | ' | ' | ' |
Deferred tax assets, valuation allowance | 333,106 | 454,586 | ' | ' |
Valuation allowance, deferred tax asset, change in amount | -121,480 | ' | ' | ' |
Deferred tax liabilities | 469,271 | 459,815 | ' | ' |
Unrecognized tax benefits | 11,333 | 13,807 | 5,877 | 9,013 |
Unrecognized tax benefits that would impact effective tax rate | 7,991 | ' | ' | ' |
Unrecognized tax benefits that would effect deferred tax assets | 3,342 | ' | ' | ' |
Unrecognized tax benefits, income tax penalties and interest accrued | 3,512 | 3,671 | ' | ' |
Unrecognized tax benefits, income tax penalties and interest expense | 1,116 | 8 | 1,184 | ' |
Domestic Tax Authority [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Deferred tax assets, valuation allowance | 299,131 | 421,743 | ' | ' |
Valuation allowance, deferred tax asset, change in amount | -122,612 | ' | ' | ' |
Domestic Tax Authority [Member] | Maximum [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards, expiration | 31-Dec-34 | ' | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Deferred tax assets, valuation allowance | 33,975 | 32,843 | ' | ' |
Valuation allowance, deferred tax asset, change in amount | 1,132 | ' | ' | ' |
Foreign Tax Authority [Member] | Minimum [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards, expiration | 30-Sep-15 | ' | ' | ' |
FURminator [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Purchase accounting benefit | ' | ' | 14,511 | ' |
FURminator [Member] | Domestic Tax Authority [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Valuation allowance, deferred tax asset, change in amount | ' | ' | -14,511 | ' |
Deferred tax liabilities | ' | ' | 14,511 | ' |
HHI Business [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Purchase accounting benefit | ' | 49,848 | ' | ' |
HHI Business [Member] | Domestic Tax Authority [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Valuation allowance, deferred tax asset, change in amount | -62,551 | -49,848 | ' | ' |
Deferred tax liabilities | ' | $49,848 | ' | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income Tax Expense Based Upon Components of (Loss) Income from Continuing Operations Before Income Tax) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Abstract] | ' | ' | ' |
United States | $80,726 | ($212,168) | ($66,102) |
Outside the United States | 192,803 | 184,214 | 175,059 |
Income (loss) from continuing operations before income taxes | $273,529 | ($27,954) | $108,957 |
Income_Taxes_Schedule_of_Compo
Income Taxes (Schedule of Components of Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Abstract] | ' | ' | ' |
Current: Federal | $6,165 | ' | ' |
Current: Foreign | 46,578 | 47,740 | 38,113 |
Current: State | 4,351 | 1,274 | -361 |
Total current | 57,094 | 49,014 | 37,752 |
Deferred: Federal | 19,694 | -23,397 | 20,884 |
Deferred: Foreign | -8,186 | 2,146 | 5,190 |
Deferred: State | -9,579 | -404 | -3,441 |
Total Deferred | 1,929 | -21,655 | 22,633 |
Income tax expense | $59,023 | $27,359 | $60,385 |
Income_Taxes_Schedule_of_Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Line Items] | ' | ' | ' |
Statutory federal income tax (benefit) expense | $95,735 | ($9,784) | $38,135 |
Permanent items | 4,643 | 10,104 | 8,595 |
Exempt foreign income | -5,665 | -5,921 | -5,760 |
Foreign statutory rate vs. U.S. statutory rate | -23,120 | -19,182 | -15,211 |
State income taxes, net of federal (benefit) expense | 5,416 | -11,686 | -2,164 |
Residual tax on foreign earnings | 90,939 | -6,958 | 29,844 |
Valuation allowance | -115,571 | 114,282 | 28,485 |
Unrecognized tax expense (benefits) | 529 | 4,062 | -4,386 |
Inflationary adjustments | -468 | -245 | -803 |
Correction of immaterial prior period error | -7,666 | ' | ' |
Nondeductible share compensation | 1,441 | 1,669 | 684 |
Other, net | 12,810 | 866 | -2,523 |
Income tax expense | 59,023 | 27,359 | 60,385 |
FURminator [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Purchase accounting benefit | ' | ' | -14,511 |
HHI Business [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Purchase accounting benefit | ' | ($49,848) | ' |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Income Taxes [Line Items] | ' | ' |
Current deferred tax assets: Employee benefits | $16,487 | $11,372 |
Current deferred tax assets: Inventories and receivables | 24,906 | 24,296 |
Current deferred tax assets: Marketing and promotional accruals | 15,966 | 14,146 |
Current deferred tax assets: Other | 14,207 | 23,261 |
Current deferred tax assets: Valuation allowance | -36,015 | -32,342 |
Total current deferred tax assets | 41,869 | 47,818 |
Current deferred tax liabilities: Inventories and receivables | -745 | -2,748 |
Current deferred tax liabilities: Unrealized gains | -1,179 | -373 |
Total current deferred tax liabilities | -7,942 | -14,859 |
Net current deferred tax assets | 33,927 | 32,959 |
Noncurrent deferred tax assets: Employee benefits | 41,248 | 35,578 |
Noncurrent deferred tax assets: Net operating loss and credit carry forwards | 507,514 | 668,679 |
Noncurrent deferred tax assets: Prepaid royalty | 6,582 | 6,956 |
Noncurrent deferred tax assets: Property, plant and equipment | 7,040 | 9,692 |
Noncurrent deferred tax assets: Unrealized losses | 279 | 2,136 |
Noncurrent deferred tax assets: Long-term debt | 49 | 668 |
Noncurrent deferred tax assets: Intangibles | 6,737 | 3,917 |
Noncurrent deferred tax assets: Other | 5,217 | 5,268 |
Noncurrent deferred tax assets: Valuation allowance | -297,091 | -422,244 |
Total noncurrent deferred tax assets | 278,287 | 310,990 |
Noncurrent deferred tax liabilities: Property, plant and equipment | -22,634 | -27,478 |
Noncurrent deferred tax liabilities: Unrealized gains | -20,012 | -13,126 |
Noncurrent deferred tax liabilities: Intangibles | -728,018 | -735,506 |
Noncurrent deferred tax liabilities: Taxes on unremitted foreign earnings | -2,648 | -18,581 |
Total noncurrent deferred tax liabilities | -781,485 | -803,764 |
Net noncurrent deferred tax liabilities | 503,198 | 492,774 |
Net current and noncurrent deferred tax liabilities | -469,271 | -459,815 |
Other Current Assets [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax assets: Restructuring | 6,318 | 7,085 |
Other Noncurrent Assets [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Noncurrent deferred tax assets: Restructuring and purchase accounting | 712 | 340 |
Other Current Liabilities [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax liabilities: Other | -6,018 | -11,738 |
Noncurrent deferred tax liabilities: Other | -6,018 | -11,738 |
Other Noncurrent Liabilities [Member] | ' | ' |
Income Taxes [Line Items] | ' | ' |
Current deferred tax liabilities: Other | -8,173 | -9,073 |
Noncurrent deferred tax liabilities: Other | ($8,173) | ($9,073) |
Income_Taxes_Schedule_of_Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Taxes [Abstract] | ' | ' | ' |
Unrecognized Tax Benefits | $13,807 | $5,877 | $9,013 |
Gross increase b tax positions in prior period | 1,548 | 9,104 | 773 |
Gross decrease b tax positions in prior period | -1,380 | -327 | -1,308 |
Gross increase b tax positions in current period | 714 | 516 | 776 |
Settlements | -2,515 | -15 | -1,737 |
Lapse of statutes of limitations | -841 | -1,348 | -1,640 |
Unrecognized Tax Benefits | $11,333 | $13,807 | $5,877 |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Unrecognized net losses included in AOCI | $32,797 | $29,180 | $33,428 | $21,496 |
Unrecognized net losses included in AOCI, tax expense (benefit) | -797 | 817 | ' | ' |
Net loss in AOCI expected to be recognized during Fiscal 2015 | 1,515 | ' | ' | ' |
Fair value of plan assets | 188,862 | 175,484 | ' | ' |
Expected return on plan assets | 5.40% | ' | ' | ' |
Company contributions charged to operations including discretionary amounts | 12,318 | 11,095 | 1,935 | ' |
Pension and Deferred Compensation Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Deferred compensation arrangement with individual, maximum contractual term | '15 years | ' | ' | ' |
Net underfunded status | 78,155 | 80,658 | ' | ' |
Benefit obligation | 267,017 | 256,142 | 240,806 | ' |
Fair value of plan assets | 188,862 | 175,484 | 153,927 | ' |
Pension and Deferred Compensation Benefits [Member] | Minimum [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Weighted average discount rate | 2.00% | 1.80% | ' | ' |
Expected return on plan assets | 2.00% | 3.60% | ' | ' |
Pension and Deferred Compensation Benefits [Member] | Maximum [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Weighted average discount rate | 13.50% | 13.00% | ' | ' |
Expected return on plan assets | 7.50% | 7.80% | ' | ' |
Other Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Deferred compensation arrangement with individual, maximum contractual term | '10 years | ' | ' | ' |
Amortization period transition obligation | '20 years | ' | ' | ' |
Benefit obligation | 427 | 403 | 566 | ' |
Weighted average discount rate | 4.70% | 4.70% | ' | ' |
Other Benefits [Member] | Minimum [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Health care benefits accrual age | '40 years | ' | ' | ' |
Other Benefits [Member] | Maximum [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Health care benefits accrual age | '65 years | ' | ' | ' |
U.S. Defined Benefit Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Benefit obligation | 70,892 | 66,895 | ' | ' |
Fair value of plan assets | 62,404 | 58,458 | ' | ' |
Weighted average discount rate | 4.20% | 3.80% | ' | ' |
Expected return on plan assets | 7.50% | 7.80% | ' | ' |
International Defined Benefit Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Benefit obligation | 196,125 | 189,247 | ' | ' |
Fair value of plan assets | $126,458 | $117,026 | ' | ' |
Weighted average discount rate | 3.30% | 3.90% | ' | ' |
Expected return on plan assets | 4.30% | 4.70% | ' | ' |
Employee_Benefit_Plans_Additio
Employee Benefit Plans (Additional Information on Pension and Other Postretirement Benefit Plans) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets, beginning of year | $175,484 | ' | ' |
Fair value of plan assets, end of year | 188,862 | ' | ' |
Expected return on plan assets | 5.40% | ' | ' |
Pension and Deferred Compensation Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, beginning of year | 256,142 | 240,806 | ' |
Liabilities assumed through acquisitions | ' | 14,716 | ' |
Service cost | 3,191 | 3,061 | 2,048 |
Interest cost | 10,361 | 9,886 | 10,593 |
Actuarial (gain) loss | 12,923 | 1,851 | ' |
Participant contributions | 34 | 59 | ' |
Curtailments | ' | -1,507 | ' |
Benefits Paid | -9,694 | -15,925 | ' |
Foreign currency exchange rate changes | -5,940 | 3,195 | ' |
Benefit obligation, end of year | 267,017 | 256,142 | 240,806 |
Fair value of plan assets, beginning of year | 175,484 | 153,927 | ' |
Assets acquired through acquisitions | ' | 6,680 | ' |
Actual return on plan assets | 12,487 | 16,759 | ' |
Employer contributions | 12,985 | 12,316 | ' |
Employee contributions | 34 | 59 | ' |
Benefits Paid | -9,694 | -15,925 | ' |
Foreign currency exchange rate changes | -2,434 | 1,668 | ' |
Fair value of plan assets, end of year | 188,862 | 175,484 | 153,927 |
Accrued Benefit Cost | -78,155 | -80,658 | ' |
Other Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligation, beginning of year | 403 | 566 | ' |
Service cost | ' | 9 | 12 |
Interest cost | 18 | 22 | 27 |
Actuarial (gain) loss | 7 | -58 | ' |
Curtailments | ' | -135 | ' |
Benefits Paid | -1 | -1 | ' |
Benefit obligation, end of year | 427 | 403 | 566 |
Employer contributions | 1 | 1 | ' |
Benefits Paid | -1 | -1 | ' |
Accrued Benefit Cost | ($427) | ($403) | ' |
Discount rate | 4.70% | 4.70% | ' |
Minimum [Member] | Pension and Deferred Compensation Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 2.00% | 1.80% | ' |
Expected return on plan assets | 2.00% | 3.60% | ' |
Rate of compensation increase | 2.30% | 2.30% | ' |
Maximum [Member] | Pension and Deferred Compensation Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate | 13.50% | 13.00% | ' |
Expected return on plan assets | 7.50% | 7.80% | ' |
Rate of compensation increase | 5.50% | 5.50% | ' |
Employee_Benefit_Plans_Compone
Employee Benefit Plans (Components of Net Periodic Pension Benefit and Deferred Compensation Benefit Cost) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension and Deferred Compensation Benefits [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Service cost | $3,191 | $3,061 | $2,048 |
Interest cost | 10,361 | 9,886 | 10,593 |
Expected return on assets | -9,894 | -8,667 | -8,225 |
Amortization of prior year service cost | ' | ' | 72 |
Curtailment gain | -93 | -752 | ' |
Recognized net actuarial (gain) loss | 1,461 | 2,112 | 828 |
Net periodic benefit cost (benefit) | 5,026 | 5,640 | 5,316 |
Other Benefits [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Service cost | ' | 9 | 12 |
Interest cost | 18 | 22 | 27 |
Recognized net actuarial (gain) loss | ' | 8 | -54 |
Net periodic benefit cost (benefit) | $18 | $39 | ($15) |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans (Schedule of Allocation of Pension Plan Assets) (Details) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan Assets, Target Allocation | 100.00% | ' |
Plan Assets, Actual Allocation | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan Assets, Target Allocation Minimum | 0.00% | ' |
Plan Assets, Target Allocation Maximum | 60.00% | ' |
Plan Assets, Actual Allocation | 25.00% | 47.00% |
Fixed Income Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan Assets, Target Allocation Minimum | 0.00% | ' |
Plan Assets, Target Allocation Maximum | 40.00% | ' |
Plan Assets, Actual Allocation | 27.00% | 21.00% |
Other [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan Assets, Target Allocation Minimum | 0.00% | ' |
Plan Assets, Target Allocation Maximum | 100.00% | ' |
Plan Assets, Actual Allocation | 48.00% | 32.00% |
Employee_Benefit_Plans_Schedul1
Employee Benefit Plans (Schedule of Fair Value of Pension Plan Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | $188,862 | $175,484 |
U.S. Defined Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 62,404 | 58,458 |
International Defined Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 126,458 | 117,026 |
Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 45,828 | 39,430 |
Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 143,034 | 136,054 |
Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Equity Securities [Member] | U.S. Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 27,047 | 33,955 |
Equity Securities [Member] | Foreign Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 18,651 | 48,433 |
Equity Securities [Member] | Level 1 [Member] | U.S. Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 19,949 | 18,497 |
Equity Securities [Member] | Level 1 [Member] | Foreign Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 11,100 | 10,792 |
Equity Securities [Member] | Level 2 [Member] | U.S. Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 7,098 | 15,458 |
Equity Securities [Member] | Level 2 [Member] | Foreign Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 7,551 | 37,641 |
Equity Securities [Member] | Level 3 [Member] | U.S. Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Equity Securities [Member] | Level 3 [Member] | Foreign Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Equity Securities [Member] | Level 3 [Member] | U.S. Defined Benefit Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Debt Securities [Member] | U.S. Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 19,222 | 17,857 |
Debt Securities [Member] | Foreign Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 23,594 | 10,688 |
Debt Securities [Member] | Foreign Government Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8,565 | 7,994 |
Debt Securities [Member] | Level 1 [Member] | U.S. Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 4,026 | 2,279 |
Debt Securities [Member] | Level 1 [Member] | Foreign Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 3,131 | ' |
Debt Securities [Member] | Level 2 [Member] | U.S. Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 15,196 | 15,578 |
Debt Securities [Member] | Level 2 [Member] | Foreign Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 20,463 | 10,688 |
Debt Securities [Member] | Level 2 [Member] | Foreign Government Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8,565 | 7,994 |
Debt Securities [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Debt Securities [Member] | Level 3 [Member] | U.S. Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Debt Securities [Member] | Level 3 [Member] | Foreign Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Debt Securities [Member] | Level 3 [Member] | Foreign Government Bonds [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Real Estate [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 7,143 | 6,595 |
Real Estate [Member] | Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 1,254 | 1,204 |
Real Estate [Member] | Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 5,889 | 5,391 |
Real Estate [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Life Insurance Contracts [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 37,734 | 37,690 |
Life Insurance Contracts [Member] | Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 37,734 | 37,690 |
Life Insurance Contracts [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Other [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 38,688 | 355 |
Other [Member] | Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 38,688 | 355 |
Other [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Foreign Cash And Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 8,218 | 11,917 |
Foreign Cash And Cash Equivalents [Member] | Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 6,368 | 6,658 |
Foreign Cash And Cash Equivalents [Member] | Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | 1,850 | 5,259 |
Foreign Cash And Cash Equivalents [Member] | Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair value of plan assets | ' | ' |
Employee_Benefit_Plans_Schedul2
Employee Benefit Plans (Schedule of Expected Future Pension Benefit Payments) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Employee Benefit Plans [Abstract] | ' |
2015 | $12,288 |
2016 | 10,548 |
2017 | 10,743 |
2018 | 11,244 |
2019 | 12,275 |
2020-2024 | $65,315 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) | 12 Months Ended |
Sep. 30, 2014 | |
segment | |
Segment Information [Abstract] | ' |
Number of Reportable Segments | 4 |
Segment_Information_Net_Sales_
Segment Information (Net Sales to External Customers) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | $4,429,109 | $4,085,581 | $3,252,435 |
Global Batteries & Appliances [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 2,230,710 | 2,203,577 | 2,249,939 |
Hardware & Home Improvement [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 1,165,996 | 869,631 | ' |
Global Pet Supplies [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 600,537 | 621,834 | 615,508 |
Home and Garden Business [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 431,866 | 390,539 | 386,988 |
Consumer Batteries [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 957,837 | 931,647 | 948,652 |
Small Appliances [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 730,783 | 740,289 | 771,568 |
Electric Shaving and Grooming [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | 278,315 | 276,783 | 279,468 |
Electric Personal Care [Member] | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' |
Net sales | $263,775 | $254,858 | $250,251 |
Segment_Information_Depreciati
Segment Information (Depreciation and Amortization) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | $157,630 | $139,893 | $104,616 |
Global Batteries & Appliances [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | 73,077 | 67,229 | 63,618 |
Hardware & Home Improvement [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | 40,388 | 31,364 | ' |
Global Pet Supplies [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | 31,565 | 29,615 | 27,702 |
Home and Garden Business [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | 12,600 | 11,685 | 13,296 |
Total Segments [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | 157,630 | 139,893 | 104,616 |
Corporate [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Depreciation and amortization | ' | ' | ' |
Segment_Information_Segment_Pr
Segment Information (Segment Profit) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Acquisition and integration related charges | $20,102 | $48,445 | $31,066 |
Restructuring and related charges | 22,895 | 34,012 | 19,591 |
Interest expense | 202,118 | 375,625 | 191,911 |
Other expense, net | 6,286 | 3,506 | 878 |
Income from continuing operations before income taxes | 273,529 | -27,954 | 108,957 |
Total Segments [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | 600,367 | 495,775 | 403,917 |
Corporate [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | 75,437 | 62,141 | 51,514 |
Global Batteries & Appliances [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | 256,524 | 237,544 | 244,442 |
Hardware & Home Improvement [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | 172,217 | 88,668 | ' |
Global Pet Supplies [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | 82,371 | 91,080 | 85,866 |
Home and Garden Business [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Income from continuing operations before income taxes | $89,255 | $78,483 | $73,609 |
Segment_Information_Segment_To
Segment Information (Segment Total Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | $5,513,029 | $5,626,673 |
Global Batteries & Appliances [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 2,152,003 | 2,360,733 |
Hardware & Home Improvement [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 1,629,020 | 1,735,629 |
Global Pet Supplies [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 890,372 | 948,832 |
Home and Garden Business [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 526,596 | 500,559 |
Total Segments [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | 5,197,991 | 5,545,753 |
Corporate [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total assets | $315,038 | $80,920 |
Segment_Information_Capital_Ex
Segment Information (Capital Expenditures) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | $73,347 | $81,976 | $46,809 |
Global Batteries & Appliances [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | 40,347 | 47,928 | 36,271 |
Hardware & Home Improvement [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | 21,167 | 23,385 | ' |
Global Pet Supplies [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | 5,267 | 8,268 | 7,447 |
Home and Garden Business [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | 6,566 | 2,395 | 3,091 |
Total Segments [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | 73,347 | 81,976 | 46,809 |
Corporate [Member] | ' | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' |
Total Capital expenditures | ' | ' | ' |
Segment_Information_Geographic
Segment Information (Geographic DisclosuresbNet Sales to External Customers) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total net sales to external customers | $4,429,109 | $4,085,581 | $3,252,435 |
United States [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total net sales to external customers | 2,640,698 | 2,411,409 | 1,772,138 |
Outside of the United States [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total net sales to external customers | $1,788,411 | $1,674,172 | $1,480,297 |
Segment_Information_Geographic1
Segment Information (Geographic DisclosuresbLong-lived Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property, plant and equipment, net | $428,877 | $412,551 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property, plant and equipment, net | 253,234 | 230,866 |
Outside of the United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property, plant and equipment, net | $175,643 | $181,685 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Loss Contingencies [Line Items] | ' | ' | ' |
Accrual for environmental loss contingencies | $4,615 | ' | ' |
Total rent expense | $40,775 | $41,829 | $34,327 |
Minimum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Lease expiration | 1-Oct-14 | ' | ' |
Maximum [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Lease expiration | 1-Jul-24 | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule of Future Minimum Rental Commitments Under Operating Leases) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies [Abstract] | ' |
2015 | $37,202 |
2016 | 33,246 |
2017 | 28,373 |
2018 | 19,034 |
2019 | 14,361 |
Thereafter | 31,872 |
Total minimum lease payments | $164,088 |
Related_Party_Transactions_Det
Related Party Transactions (Details) | 12 Months Ended |
Sep. 30, 2014 | |
Related Party Transaction [Line Items] | ' |
Minimum ownership percentage | 90.00% |
Maximum [Member] | ' |
Related Party Transaction [Line Items] | ' |
Ownership percentage by noncontrolling owners | 40.00% |
Restructuring_And_Related_Char2
Restructuring And Related Charges (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Total Expected Restructuring Costs | $105,000 | ' | ' |
Restructuring and related charges | 22,895 | 34,012 | 19,591 |
HHI Business Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges, expected costs | 9,000 | ' | ' |
Restructuring and related charges | 4,511 | ' | ' |
Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges, expected costs | 46,500 | ' | ' |
Restructuring and related charges | 13,373 | 11,317 | ' |
Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 1,318 | 16,352 | 18,690 |
HHI Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 3,759 | 6,228 | ' |
Other Restructuring [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | ($66) | $115 | $901 |
Restructuring_And_Related_Char3
Restructuring And Related Charges (Summarized Restructuring And Related Charges Inccurred By Segment) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | $22,895 | $34,012 | $19,591 |
Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 13,373 | 11,317 | ' |
Restructuring and related charges since initiative inception | 24,691 | ' | ' |
Total future restructuring and related charges expected | 21,726 | ' | ' |
HHI Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 3,759 | 6,228 | ' |
Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 1,318 | 16,352 | 18,690 |
Restructuring and related charges since initiative inception | 100,690 | ' | ' |
Total future restructuring and related charges expected | 4,385 | ' | ' |
Global Batteries & Appliances [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 11,072 | ' | ' |
Restructuring and related charges since initiative inception | 21,142 | ' | ' |
Total future restructuring and related charges expected | 13,483 | ' | ' |
Global Batteries & Appliances [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 99 | ' | ' |
Restructuring and related charges since initiative inception | 25,512 | ' | ' |
Total future restructuring and related charges expected | 767 | ' | ' |
Global Pet Supplies [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 1,768 | ' | ' |
Restructuring and related charges since initiative inception | 1,768 | ' | ' |
Total future restructuring and related charges expected | 5,748 | ' | ' |
Global Pet Supplies [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 1,219 | ' | ' |
Restructuring and related charges since initiative inception | 49,368 | ' | ' |
Total future restructuring and related charges expected | 3,618 | ' | ' |
Home and Garden Business [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | ' | ' | ' |
Restructuring and related charges since initiative inception | 18,219 | ' | ' |
Total future restructuring and related charges expected | ' | ' | ' |
Corporate Segment [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 533 | ' | ' |
Restructuring and related charges since initiative inception | 1,781 | ' | ' |
Total future restructuring and related charges expected | 2,495 | ' | ' |
Corporate Segment [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | ' | ' | ' |
Restructuring and related charges since initiative inception | 7,591 | ' | ' |
Total future restructuring and related charges expected | ' | ' | ' |
Cost of Goods Sold [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 3,713 | 9,984 | 9,835 |
Cost of Goods Sold [Member] | Global Batteries & Appliances [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 648 | 1,143 | 5,094 |
Cost of Goods Sold [Member] | Hardware & Home Improvement [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 2,641 | 6,246 | ' |
Cost of Goods Sold [Member] | Global Pet Supplies [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 424 | 2,595 | 4,741 |
Operating Expenses [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 19,182 | 24,028 | 9,756 |
Operating Expenses [Member] | Global Batteries & Appliances [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 10,458 | 13,627 | 2,487 |
Operating Expenses [Member] | Hardware & Home Improvement [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 5,628 | ' | ' |
Operating Expenses [Member] | Global Pet Supplies [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 2,563 | 8,556 | 5,395 |
Operating Expenses [Member] | Home and Garden Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | ' | 598 | 912 |
Operating Expenses [Member] | Corporate Segment [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 533 | 1,247 | 962 |
Termination Benefits [Member] | Cost of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 971 | 2 | ' |
Termination Benefits [Member] | Cost of Goods Sold [Member] | HHI Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | ' | 146 | ' |
Termination Benefits [Member] | Cost of Goods Sold [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 2 | 228 | 2,941 |
Termination Benefits [Member] | Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 5,497 | 10,259 | ' |
Termination Benefits [Member] | Operating Expenses [Member] | HHI Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 4,511 | ' | ' |
Termination Benefits [Member] | Operating Expenses [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 244 | 6,351 | 3,079 |
Other Restructuring [Member] | Cost of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 37 | ' | ' |
Other Restructuring [Member] | Cost of Goods Sold [Member] | HHI Business [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 2,641 | 6,278 | ' |
Other Restructuring [Member] | Cost of Goods Sold [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 62 | 3,330 | 6,894 |
Other Restructuring [Member] | Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | 6,868 | 1,056 | ' |
Other Restructuring [Member] | Operating Expenses [Member] | Global Cost Reduction Initiative [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring and related charges | $1,010 | $6,443 | $5,776 |
Restructuring_And_Related_Char4
Restructuring And Related Charges (Summarized Restructuring and Related Charges Incurred by Type of Charge) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | $22,895 | $34,012 | $19,591 | |
Global Expense Rationalization Initiatives [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | 7,285 | ' | ' | |
Provisions | 4,952 | ' | ' | |
Cash expenditures | -7,041 | ' | ' | |
Non-cash items | 277 | ' | ' | |
Accrual balance at end of period | 5,473 | 7,285 | ' | |
Expensed as incurred | 8,421 | [1] | ' | ' |
Restructuring and related charges for the period | 13,373 | 11,317 | ' | |
Restructuring and related charges since initiative inception | 24,691 | ' | ' | |
Total future restructuring and related charges expected | 21,726 | ' | ' | |
Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | 7,320 | ' | ' | |
Provisions | 3,462 | ' | ' | |
Cash expenditures | -7,041 | ' | ' | |
Non-cash items | 303 | ' | ' | |
Accrual balance at end of period | 4,044 | ' | ' | |
Expensed as incurred | 3,006 | [1] | ' | ' |
Global Expense Rationalization Initiatives [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | -35 | ' | ' | |
Provisions | 1,490 | ' | ' | |
Cash expenditures | ' | ' | ' | |
Non-cash items | -26 | ' | ' | |
Accrual balance at end of period | 1,429 | ' | ' | |
Expensed as incurred | 5,415 | [1] | ' | ' |
Global Cost Reduction Initiative [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | 5,351 | ' | ' | |
Provisions | 234 | ' | ' | |
Cash expenditures | -4,282 | ' | ' | |
Non-cash items | 186 | ' | ' | |
Accrual balance at end of period | 1,489 | 5,351 | ' | |
Expensed as incurred | 1,084 | [1] | ' | ' |
Restructuring and related charges for the period | 1,318 | 16,352 | 18,690 | |
Restructuring and related charges since initiative inception | 100,690 | ' | ' | |
Total future restructuring and related charges expected | 4,385 | ' | ' | |
Global Cost Reduction Initiative [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | 4,927 | ' | ' | |
Provisions | 232 | ' | ' | |
Cash expenditures | -3,541 | ' | ' | |
Non-cash items | -289 | ' | ' | |
Accrual balance at end of period | 1,329 | ' | ' | |
Expensed as incurred | 17 | [1] | ' | ' |
Global Cost Reduction Initiative [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Accrual balance at beginning of period | 424 | ' | ' | |
Provisions | 2 | ' | ' | |
Cash expenditures | -741 | ' | ' | |
Non-cash items | 475 | ' | ' | |
Accrual balance at end of period | 160 | ' | ' | |
Expensed as incurred | 1,067 | [1] | ' | ' |
HHI Business [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 3,759 | 6,228 | ' | |
Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | -66 | 115 | 901 | |
Cost of Goods Sold [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 3,713 | 9,984 | 9,835 | |
Cost of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 971 | 2 | ' | |
Cost of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 37 | ' | ' | |
Cost of Goods Sold [Member] | Global Cost Reduction Initiative [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 2 | 228 | 2,941 | |
Cost of Goods Sold [Member] | Global Cost Reduction Initiative [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 62 | 3,330 | 6,894 | |
Cost of Goods Sold [Member] | HHI Business [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | ' | 146 | ' | |
Cost of Goods Sold [Member] | HHI Business [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 2,641 | 6,278 | ' | |
Operating Expenses [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 19,182 | 24,028 | 9,756 | |
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 5,497 | 10,259 | ' | |
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 6,868 | 1,056 | ' | |
Operating Expenses [Member] | Global Cost Reduction Initiative [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 244 | 6,351 | 3,079 | |
Operating Expenses [Member] | Global Cost Reduction Initiative [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 1,010 | 6,443 | 5,776 | |
Operating Expenses [Member] | HHI Business [Member] | Termination Benefits [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | 4,511 | ' | ' | |
Operating Expenses [Member] | Other Restructuring [Member] | Other Restructuring [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Restructuring and related charges for the period | $1,052 | ($81) | $901 | |
[1] | Consists of amounts not impacting the accrual for restructuring and related charges. |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Jan. 02, 2014 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | Liquid Fence [Member] | Liquid Fence [Member] | Customer Relationships [Member] | |||
item | Liquid Fence [Member] | |||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Preliminary purchase price | ' | ' | ' | ' | $35,845 | ' |
Number of semi-annual installment payments | ' | ' | ' | 4 | ' | ' |
Debt maturity period, months | ' | ' | ' | '24 months | ' | ' |
Useful life of intangible asset | ' | ' | ' | '17 years | ' | '15 years |
Valuation of technology asset | ' | ' | ' | 20,500 | ' | ' |
Trade names not subject to amortization | 1,174,274 | 1,178,050 | 841,068 | 5,100 | ' | ' |
Customer relationships | ' | ' | ' | 1,300 | ' | ' |
Contingent consideration | ' | ' | ' | $1,500 | $1,500 | ' |
Acquisitions_Schedule_of_Busin
Acquisitions (Schedule of Business Acquisition, Pro Forma Results) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reported Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $4,429,109 | $4,085,581 | $3,252,435 | ||
Net sales: HHI Business adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 191,777 | [1] | 973,648 | [1] |
Pro forma Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,277,358 | 4,226,083 | ||
Reportend Net income (loss) | 47,937 | 78,055 | 33,811 | 54,289 | -36,705 | 36,130 | -41,232 | -13,439 | 214,506 | -55,313 | [2],[3] | 48,572 | [2],[3] |
Net income (loss): HHI Business adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,942 | [1] | 76,120 | [1] |
Pro forma Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -50,371 | 124,692 | ||
Reported Basic income (loss) per share | $0.91 | $1.48 | $0.64 | $1.04 | ($0.70) | $0.69 | ($0.79) | ($0.26) | $4.07 | ($1.06) | $0.94 | ||
Basic income (loss) per share: HHI Business adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.09 | [1] | $1.47 | [1] |
Pro forma Basic income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.97) | $2.41 | ||
Diluted income (loss) per share | $0.90 | $1.47 | $0.64 | $1.03 | ($0.70) | $0.69 | ($0.79) | ($0.26) | $4.02 | ($1.06) | [4] | $0.91 | [4] |
Diluted income (loss) per share: HHI Business adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.09 | [1],[4] | $1.43 | [1],[4] |
Pro forma Diluted income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($0.97) | [4] | $2.34 | [4] |
Valuation allowance, deferred tax asset, change in amount | ' | ' | ' | ' | ' | ' | ' | ' | -121,480 | ' | ' | ||
Acquisition and integration related charges | ' | ' | ' | ' | ' | ' | ' | ' | 20,102 | 48,445 | 31,066 | ||
HHI Business [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Valuation allowance, deferred tax asset, change in amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49,848 | ' | ||
Acquisition and integration related charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | $36,932 | ' | ||
[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, bIncome Taxes.b | ||||||||||||
[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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b | ||||||||||||
[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. |
Acquisitions_Consideration_Pai
Acquisitions (Consideration Paid) (Details) (Liquid Fence [Member], USD $) | Sep. 30, 2014 | Jan. 02, 2014 |
In Thousands, unless otherwise specified | ||
Liquid Fence [Member] | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' |
Negotiated sales price | ' | $24,800 |
Preliminary purchase price | ' | 35,845 |
Promissory note due to seller | ' | 9,500 |
Contingent consideration | 1,500 | 1,500 |
Preliminary working capital adjustment | ' | $45 |
Acquisitions_Preliminary_Valua
Acquisitions (Preliminary Valuation) (Details) (Liquid Fence [Member], USD $) | Jan. 02, 2014 |
In Thousands, unless otherwise specified | |
Liquid Fence [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash | $46 |
Accounts receivable | 1,152 |
Inventories | 2,188 |
Property, plant and equipment, net | 59 |
Intangible assets | 26,900 |
Total assets acquired | 30,345 |
Total liabilities assumed | 1,588 |
Total identifiable net assets | 28,757 |
Goodwill | 7,088 |
Total identifiable net assets | $35,845 |
Quarterly_Results_Details
Quarterly Results (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Quarterly Results [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net sales | $1,178,312 | $1,128,509 | $1,021,688 | $1,100,600 | $1,137,732 | $1,089,825 | $987,756 | $870,268 | ' | ' | ' | ||
Gross Profit | 411,001 | 417,037 | 359,624 | 381,207 | 396,493 | 382,759 | 322,904 | 288,156 | 1,568,869 | 1,390,312 | 1,115,678 | ||
Net (loss) income | $47,937 | $78,055 | $33,811 | $54,289 | ($36,705) | $36,130 | ($41,232) | ($13,439) | $214,506 | ($55,313) | [1],[2] | $48,572 | [1],[2] |
Basic net (loss) income per common share | $0.91 | $1.48 | $0.64 | $1.04 | ($0.70) | $0.69 | ($0.79) | ($0.26) | $4.07 | ($1.06) | $0.94 | ||
Diluted net (loss) income per common | $0.90 | $1.47 | $0.64 | $1.03 | ($0.70) | $0.69 | ($0.79) | ($0.26) | $4.02 | ($1.06) | [3] | $0.91 | [3] |
[1] | 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, bIncome Taxes.b | ||||||||||||
[2] | 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, bSignificant Accounting Policies - Acquisition and Integration Related Charges.b | ||||||||||||
[3] | 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. |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | Nov. 03, 2014 | Oct. 02, 2014 |
In Thousands, unless otherwise specified | Tell Manufacturing, Inc. [Member] | |
Subsequent Event [Line Items] | ' | ' |
Cash acquisition | ' | $31,775 |
Restructuring and related charges, expected costs | $46,500 | ' |
Schedule_II_Valuation_and_Qual1
Schedule II Valuation and Qualifying Accounts (Details) (Accounts Receivable Allowances [Member], USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Accounts Receivable Allowances [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $37,376,000 | $21,870,000 | $14,128,000 |
Charged to Costs and Expenses | 7,404,000 | 15,506,000 | 7,742,000 |
Deductions | -2,409,000 | ' | ' |
Other Adjustments | 6,270,000 | ' | ' |
Balance at End of Period | $48,641,000 | $37,376,000 | $21,870,000 |