Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2015 | Nov. 17, 2015 | Mar. 29, 2015 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Sep. 30, 2015 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 | ||
Entity Registrant Name | Spectrum Brands Holdings, Inc. | ||
Entity Central Index Key | 1,487,730 | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 1,937,571,248 | ||
Entity Common Stock, Shares Outstanding | 59,087,918 | ||
SB/RH Holdings, LLC [Member] | |||
Entity Registrant Name | SB/RH Holdings, LLC | ||
Entity Central Index Key | 1,592,706 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 247.9 | $ 194.6 |
Trade receivables, net | 498.8 | 439 |
Other receivables | 87.9 | 76.3 |
Inventories | 780.8 | 624.5 |
Prepaid expenses and other current assets | 116.8 | 100.2 |
Total current assets | 1,732.2 | 1,434.6 |
Property, plant and equipment, net | 507.1 | 428.9 |
Deferred charges and other | 101.7 | 88.4 |
Goodwill | 2,476.7 | 1,469.6 |
Intangible assets, net | 2,480.3 | 2,091.5 |
Total assets | 7,298 | 5,513 |
Current liabilities: | ||
Current portion of long-term debt | 33.8 | 96.7 |
Accounts payable | 620.6 | 519.7 |
Accrued wages and salaries | 96.5 | 88.1 |
Accrued interest | 63.3 | 35.4 |
Other current liabilities | 217.3 | 175.8 |
Total current liabilities | 1,031.5 | 915.7 |
Long-term debt, net current portion | 3,937.2 | 2,894.1 |
Deferred income taxes | 607 | 513.2 |
Other long-term liabilities | 115.5 | 103.2 |
Total liabilities | $ 5,691.2 | $ 4,426.2 |
Commitments and contingencies (See Note 17) | ||
Shareholder's equity: | ||
Common stock, $0.01 par value: Authorized - 200.0 shares; Issued - 61.1 and 54.2 shares, respectively; Outstanding - 59.4 and 52.7 shares, respectively | $ 0.6 | $ 0.5 |
Additional paid-in capital | 2,033.6 | 1,433.4 |
Accumulated deficit | (205.5) | (283.1) |
Accumulated other comprehensive loss, net of tax | (200.1) | (63.1) |
Treasury stock, at cost | (65.5) | (44.3) |
Total shareholder's equity | 1,563.1 | 1,043.4 |
Noncontrolling interest | 43.7 | 43.4 |
Total equity | 1,606.8 | 1,086.8 |
Total liabilities and shareholder's equity | 7,298 | 5,513 |
SB/RH Holdings, LLC [Member] | ||
Current assets: | ||
Cash and cash equivalents | 247.9 | 192.9 |
Trade receivables, net | 498.8 | 439 |
Other receivables | 87.9 | 76.3 |
Inventories | 780.8 | 624.5 |
Prepaid expenses and other current assets | 116.8 | 100.2 |
Total current assets | 1,732.2 | 1,432.9 |
Property, plant and equipment, net | 507.1 | 428.9 |
Deferred charges and other | 101.6 | 88.4 |
Goodwill | 2,476.7 | 1,469.6 |
Intangible assets, net | 2,480.3 | 2,091.5 |
Total assets | 7,297.9 | 5,511.3 |
Current liabilities: | ||
Current portion of long-term debt | 68.5 | 112.6 |
Accounts payable | 620.6 | 519.7 |
Accrued wages and salaries | 96.5 | 88.1 |
Accrued interest | 63.3 | 35.4 |
Other current liabilities | 216.5 | 174.8 |
Total current liabilities | 1,065.4 | 930.6 |
Long-term debt, net current portion | 3,937.2 | 2,894.1 |
Deferred income taxes | 607 | 513.2 |
Other long-term liabilities | 115.5 | 103.2 |
Total liabilities | $ 5,725.1 | $ 4,441.1 |
Commitments and contingencies (See Note 17) | ||
Shareholder's equity: | ||
Other capital | $ 1,969.9 | $ 1,413.8 |
Accumulated deficit | (246.7) | (330) |
Accumulated other comprehensive loss, net of tax | (200.1) | (63.1) |
Total shareholder's equity | 1,523.1 | 1,020.7 |
Noncontrolling interest | 49.7 | 49.5 |
Total equity | 1,572.8 | 1,070.2 |
Total liabilities and shareholder's equity | $ 7,297.9 | $ 5,511.3 |
Consolidated Statements Of Fin3
Consolidated Statements Of Financial Position (Parenthetical) - $ / shares | Sep. 30, 2015 | Sep. 30, 2014 |
Consolidated Statements Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 61,100,000 | 54,200,000 |
Common stock, shares outstanding | 59,400,000 | 52,700,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net sales | $ 4,690.4 | $ 4,429.1 | $ 4,085.6 |
Cost of goods sold | 3,018 | 2,856.5 | 2,685.3 |
Restructuring and related charges | 28.7 | 22.9 | 34 |
Gross profit | 1,670.3 | 1,568.9 | 1,390.3 |
Operating expenses: | |||
Selling | 720.7 | 678.2 | 637 |
General and administrative | 338.8 | 321.6 | 286.4 |
Research and development | 51.3 | 47.9 | 43.3 |
Acquisition and integration related charges | 58.8 | 20.1 | 48.4 |
Total operating expenses | 1,196.2 | 1,087 | 1,039.1 |
Operating income | 474.1 | 481.9 | 351.2 |
Interest expense | 271.9 | 202.1 | 375.6 |
Other non-operating expense, net | 8.9 | 6.3 | 3.5 |
Income (loss) from operations before income taxes | 193.3 | 273.5 | (27.9) |
Income tax expense | 43.9 | 59 | 27.4 |
Net income (loss) | 149.4 | 214.5 | (55.3) |
Net income (loss) attributable to non-controlling interest | 0.5 | 0.4 | (0.1) |
Net income (loss) attributable to controlling interest | $ 148.9 | $ 214.1 | $ (55.2) |
Earnings (Loss) Per Share | |||
Basic earnings (loss) per share | $ 2.68 | $ 4.07 | $ (1.06) |
Diluted earnings (loss) per share | 2.66 | 4.02 | (1.06) |
Dividends per share | $ 1.27 | $ 1.15 | $ 0.75 |
Weighted Average Shares Outstanding | |||
Basic | 55.6 | 52.6 | 52 |
Diluted | 55.9 | 53.3 | 52 |
Cost Of Goods Sold [Member] | |||
Restructuring and related charges | $ 2.1 | $ 3.7 | $ 10 |
Operating Expenses [Member] | |||
Restructuring and related charges | 26.6 | 19.2 | 24 |
SB/RH Holdings, LLC [Member] | |||
Net sales | 4,690.4 | 4,429.1 | 4,085.6 |
Cost of goods sold | 3,018 | 2,856.5 | 2,685.3 |
Restructuring and related charges | 28.7 | 22.9 | 34 |
Gross profit | 1,670.3 | 1,568.9 | 1,390.3 |
Operating expenses: | |||
Selling | 720.7 | 678.2 | 637 |
General and administrative | 332.4 | 319 | 284.7 |
Research and development | 51.3 | 47.9 | 43.3 |
Acquisition and integration related charges | 58.8 | 20.1 | 48.4 |
Total operating expenses | 1,189.8 | 1,084.4 | 1,037.4 |
Operating income | 480.5 | 484.5 | 352.9 |
Interest expense | 271.9 | 202.1 | 369.5 |
Other non-operating expense, net | 8.9 | 6.3 | 3.5 |
Income (loss) from operations before income taxes | 199.7 | 276.1 | (20.1) |
Income tax expense | 43.9 | 59 | 27.4 |
Net income (loss) | 155.8 | 217.1 | (47.5) |
Net income (loss) attributable to non-controlling interest | 0.4 | 0.3 | (0.1) |
Net income (loss) attributable to controlling interest | 155.4 | 216.8 | (47.4) |
SB/RH Holdings, LLC [Member] | Cost Of Goods Sold [Member] | |||
Restructuring and related charges | 2.1 | 3.7 | 10 |
SB/RH Holdings, LLC [Member] | Operating Expenses [Member] | |||
Restructuring and related charges | $ 26.6 | $ 19.2 | $ 24 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net income (loss) | $ 26.4 | $ 44.9 | $ 27.8 | $ 49.8 | $ 47.9 | $ 78.1 | $ 33.8 | $ 54.3 | $ 149.4 | $ 214.5 | $ (55.3) |
Other comprehensive income (loss), net of tax: | |||||||||||
Foreign currency translation loss | (113) | (32.6) | (6.6) | ||||||||
Unrealized (loss) gain on derivatives, net tax of 3.0, 4.2 and (0.4), respectively | (13.2) | 11.5 | (2.5) | ||||||||
Defined benefit pension (loss) gain, net tax of 0.5, (1.6) and 5.2, respectively | (11) | (3.6) | 4.2 | ||||||||
Other comprehensive income (loss), net of tax | (137.2) | (24.7) | (4.9) | ||||||||
Comprehensive income (loss) | 12.2 | 189.8 | (60.2) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.4 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 12.4 | 189.4 | (60.3) | ||||||||
SB/RH Holdings, LLC [Member] | |||||||||||
Net income (loss) | $ 28.4 | $ 46.6 | $ 29.6 | $ 50.8 | $ 48.5 | $ 78.6 | $ 34.9 | $ 54.8 | 155.8 | 217.1 | (47.5) |
Other comprehensive income (loss), net of tax: | |||||||||||
Foreign currency translation loss | (113) | (32.5) | (6.6) | ||||||||
Unrealized (loss) gain on derivatives, net tax of 3.0, 4.2 and (0.4), respectively | (13.2) | 11.5 | (2.5) | ||||||||
Defined benefit pension (loss) gain, net tax of 0.5, (1.6) and 5.2, respectively | (11) | (3.6) | 4.2 | ||||||||
Other comprehensive income (loss), net of tax | (137.2) | (24.6) | (4.9) | ||||||||
Comprehensive income (loss) | 18.6 | 192.5 | (52.4) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.4 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | $ 18.8 | $ 192.1 | $ (52.5) |
Consolidated Statements Of Com6
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Unrealized (loss) gain on derivatives, tax | $ 3 | $ 4.2 | $ (0.4) |
Defined benefit pension (loss) gain, tax | 0.5 | (1.6) | 5.2 |
SB/RH Holdings, LLC [Member] | |||
Unrealized (loss) gain on derivatives, tax | 3 | 4.2 | (0.4) |
Defined benefit pension (loss) gain, tax | $ 0.5 | $ (1.6) | $ 5.2 |
Consolidated Statements Of Shar
Consolidated Statements Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions | SB/RH Holdings, LLC [Member]Additional Paid-In/Other Capital [Member] | SB/RH Holdings, LLC [Member]Accumulated Deficit [Member] | SB/RH Holdings, LLC [Member]Accumulated Other Comprehensive Loss [Member] | SB/RH Holdings, LLC [Member]Total Shareholders' Equity [Member] | SB/RH Holdings, LLC [Member]Non-controlling Interest [Member] | SB/RH Holdings, LLC [Member] | Common Stock [Member] | Additional Paid-In/Other Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total Shareholders' Equity [Member] | Non-controlling Interest [Member] | Total |
Balances at Sep. 30, 2012 | $ 1,359.9 | $ (333.8) | $ (33.4) | $ 992.7 | $ 992.7 | $ 0.5 | $ 1,399.3 | $ (340.7) | $ (33.4) | $ (36.6) | $ 989.1 | $ 989.1 | ||
Balances, shares at Sep. 30, 2012 | 51.5 | |||||||||||||
Net income (loss) | (47.4) | (47.4) | $ (0.1) | (47.5) | (55.2) | (55.2) | $ (0.1) | (55.3) | ||||||
Other comprehensive loss, net of tax | (5.1) | (5.1) | 0.2 | (4.9) | (5.1) | (5.1) | 0.2 | (4.9) | ||||||
Contribution from parent | 28.6 | 28.6 | 28.6 | |||||||||||
Restricted stock issued and related tax withholdings | (20.1) | (20.1) | (20.1) | (20.1) | (20.1) | (20.1) | ||||||||
Restricted stock issued and related tax withholdings, shares | 0.8 | |||||||||||||
Share based compensation | 30.8 | 30.8 | 30.8 | 31.5 | 31.5 | 31.5 | ||||||||
Treasury stock purchases | (3.2) | (3.2) | (3.2) | |||||||||||
Treasury stock purchases, shares | (0.1) | |||||||||||||
Dividend declared | (88.7) | (88.7) | (88.7) | (40) | (40) | (40) | ||||||||
Parent ownership interest - Shaser | (6.1) | (6.1) | (6.1) | |||||||||||
Noncontrolling interest | 49.1 | 49.1 | 43 | 43 | ||||||||||
Balances at Sep. 30, 2013 | 1,393.1 | (469.9) | (38.5) | 884.7 | 49.2 | 933.9 | $ 0.5 | 1,410.7 | (435.9) | (38.5) | (39.8) | 897 | 43.1 | 940.1 |
Balances, shares at Sep. 30, 2013 | 52.2 | |||||||||||||
Net income (loss) | 216.8 | 216.8 | 0.3 | 217.1 | 214.1 | 214.1 | 0.4 | 214.5 | ||||||
Other comprehensive loss, net of tax | (24.6) | (24.6) | (24.6) | (24.6) | (24.6) | (0.1) | (24.7) | |||||||
Restricted stock issued and related tax withholdings | (25) | (25) | (25) | (25) | (25) | (25) | ||||||||
Restricted stock issued and related tax withholdings, shares | 0.6 | |||||||||||||
Share based compensation | 45.7 | 45.7 | 45.7 | 47.7 | 47.7 | 47.7 | ||||||||
Treasury stock purchases | (4.5) | (4.5) | (4.5) | |||||||||||
Treasury stock purchases, shares | (0.1) | |||||||||||||
Dividend declared | (76.9) | (76.9) | (76.9) | (61.3) | (61.3) | (61.3) | ||||||||
Balances at Sep. 30, 2014 | 1,413.8 | (330) | (63.1) | 1,020.7 | 49.5 | 1,070.2 | $ 0.5 | 1,433.4 | (283.1) | (63.1) | (44.3) | 1,043.4 | 43.4 | $ 1,086.8 |
Balances, shares at Sep. 30, 2014 | 52.7 | 52.7 | ||||||||||||
Net income (loss) | 155.4 | 155.4 | 0.4 | 155.8 | 148.9 | 148.9 | 0.5 | $ 149.4 | ||||||
Other comprehensive loss, net of tax | (137) | (137) | (0.2) | (137.2) | (137) | (137) | (0.2) | (137.2) | ||||||
Common stock issuance | $ 0.1 | 585.9 | 586 | 586 | ||||||||||
Common stock issuance, shares | 6.5 | |||||||||||||
Contribution from parent | 570.6 | 570.6 | 570.6 | |||||||||||
Restricted stock issued and related tax withholdings | (38.4) | (38.4) | (38.4) | (15.4) | (15.4) | (15.4) | ||||||||
Restricted stock issued and related tax withholdings, shares | 0.4 | |||||||||||||
Share based compensation | 23.9 | 23.9 | 23.9 | 29.7 | 29.7 | 29.7 | ||||||||
Treasury stock purchases | (21.2) | (21.2) | (21.2) | |||||||||||
Treasury stock purchases, shares | (0.2) | |||||||||||||
Dividend declared | (72.1) | (72.1) | (72.1) | (71.3) | (71.3) | (71.3) | ||||||||
Balances at Sep. 30, 2015 | $ 1,969.9 | $ (246.7) | $ (200.1) | $ 1,523.1 | $ 49.7 | $ 1,572.8 | $ 0.6 | $ 2,033.6 | $ (205.5) | $ (200.1) | $ (65.5) | $ 1,563.1 | $ 43.7 | $ 1,606.8 |
Balances, shares at Sep. 30, 2015 | 59.4 | 59.4 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from operating activities | |||
Net income (loss) | $ 149.4 | $ 214.5 | $ (55.3) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Amortization of intangible assets | 87.8 | 81.7 | 77.8 |
Depreciation | 82.2 | 75.9 | 62.1 |
Share based compensation | 47.6 | 46.8 | 43.9 |
Non-cash inventory adjustment from acquisitions | 21.7 | 31 | |
Non-cash restructuring and related charges | 19.1 | 9.2 | 23.2 |
Amortization of debt issuance costs | 12.6 | 12.8 | 13.2 |
Write off of debt issuance costs on retired debt | 11.2 | 6.4 | 21.6 |
Non-cash debt accretion | 3 | 3.1 | 2.5 |
Write off unamortized discount (premium) on retired debt | 1.7 | 2.8 | (5.2) |
Note retirement tender, call premium and related costs | 111.3 | ||
Deferred tax expense (benefit) | (4.6) | 1.9 | (21.6) |
Changes in operating assets and liabilities, net effects of acquisitions and currency: | |||
Receivables | 93.4 | 32.5 | (62.3) |
Inventories | (54.5) | 10.6 | (2.7) |
Prepaid expenses and other | (3.1) | (0.6) | (4.3) |
Accounts payable and accrued liabilities | 48.7 | (36.5) | (0.8) |
Other | (71.9) | (28.4) | 22.1 |
Net cash provided by operating activities | 444.3 | 432.7 | 256.5 |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (89.1) | (73.3) | (82) |
Business acquisitions, net of cash acquired | (1,191.1) | (27.6) | (1,399.8) |
Proceeds from sales of property, plant and equipment | 1.4 | 9.2 | 0.2 |
Other investing activities | (0.9) | (1.8) | (1.4) |
Net cash used by investing activities | (1,279.7) | (93.5) | (1,483) |
Cash flows from financing activities | |||
Proceeds from issuance of debt | 3,281.4 | 524.2 | 3,038.2 |
Payment of debt | (2,793.1) | (770.9) | (1,633.7) |
Payment of debt issuance costs | (38.1) | (5.4) | (60.9) |
Payment of cash dividends to parent | (70.7) | (61.9) | (40.1) |
Proceeds from issuance of common stock, net of issuance costs | 562.7 | ||
Treasury stock purchases | (21.2) | (4.5) | (3.2) |
Share based tax withholding payments, net of proceeds upon vesting | (2.6) | (25) | (20.1) |
Net cash provided (used) by financing activities | 918.4 | (343.5) | 1,280.2 |
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | (2.5) | (1.9) | |
Effect of exchange rate changes on cash and cash equivalents | (27.2) | (8.3) | (2.6) |
Net increase (decrease) in cash and cash equivalents | 53.3 | (12.6) | 49.2 |
Cash and cash equivalents, beginning of period | 194.6 | 207.2 | 158 |
Cash and cash equivalents, end of period | 247.9 | 194.6 | 207.2 |
Supplemental disclsoure of cash flow information | |||
Cash paid for interest | 250.3 | 178.7 | 336.8 |
Cash paid for taxes | 54.4 | 80.7 | 49.6 |
Non cash financing activity | |||
Assumption of AAG debt | 540 | ||
SB/RH Holdings, LLC [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | 155.8 | 217.1 | (47.5) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Amortization of intangible assets | 87.8 | 81.7 | 77.8 |
Depreciation | 82.2 | 75.9 | 62.1 |
Share based compensation | 41.8 | 44.9 | 43.1 |
Non-cash inventory adjustment from acquisitions | 21.7 | 31 | |
Non-cash restructuring and related charges | 19.1 | 9.2 | 23.2 |
Amortization of debt issuance costs | 12.6 | 12.8 | 13.2 |
Write off of debt issuance costs on retired debt | 11.2 | 6.4 | 21.6 |
Non-cash debt accretion | 3 | 3.1 | 2.5 |
Write off unamortized discount (premium) on retired debt | 1.7 | 2.8 | (5.2) |
Note retirement tender, call premium and related costs | 111.3 | ||
Deferred tax expense (benefit) | (4.6) | 1.9 | (21.6) |
Changes in operating assets and liabilities, net effects of acquisitions and currency: | |||
Receivables | 93.4 | 32.5 | (62.3) |
Inventories | (54.5) | 10.6 | (2.7) |
Prepaid expenses and other | (3.1) | 0.7 | (3.7) |
Accounts payable and accrued liabilities | 48.7 | (35.9) | (0.6) |
Other | (75) | (29) | 16 |
Net cash provided by operating activities | 441.8 | 434.7 | 258.2 |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (89.1) | (73.3) | (82) |
Business acquisitions, net of cash acquired | (1,191.1) | (27.6) | (1,393.6) |
Proceeds from sales of property, plant and equipment | 1.4 | 9.2 | 0.2 |
Other investing activities | (0.9) | (1.8) | (1.3) |
Net cash used by investing activities | (1,279.7) | (93.5) | (1,476.7) |
Cash flows from financing activities | |||
Proceeds from issuance of debt | 3,320.3 | 540.1 | 3,038.2 |
Payment of debt | (2,813.2) | (770.9) | (1,633.7) |
Payment of debt issuance costs | (38.1) | (5.4) | (60.9) |
Payment of cash dividends to parent | (72.1) | (77) | (88.7) |
Capital contribution from parent | 528.3 | 28.6 | |
Share based tax withholding payments, net of proceeds upon vesting | (2.6) | (25) | (20.1) |
Net cash provided (used) by financing activities | 922.6 | (338.2) | 1,263.4 |
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | (2.5) | (1.9) | |
Effect of exchange rate changes on cash and cash equivalents | (27.2) | (8.3) | (2.6) |
Net increase (decrease) in cash and cash equivalents | 55 | (5.3) | 40.4 |
Cash and cash equivalents, beginning of period | 192.9 | 198.2 | 157.8 |
Cash and cash equivalents, end of period | 247.9 | 192.9 | 198.2 |
Supplemental disclsoure of cash flow information | |||
Cash paid for interest | 250.3 | 178.7 | 336.8 |
Cash paid for taxes | 54.4 | $ 80.7 | $ 49.6 |
Non cash financing activity | |||
Assumption of AAG debt | $ 540 |
Description Of Business
Description Of Business | 12 Months Ended |
Sep. 30, 2015 | |
Description Of Business [Abstract] | |
Description Of Business | NOTE 1 - DESCRIPTION OF BU SINESS Spectrum Brands Holdings, Inc., a Delaware corporation, is a diversified global branded consumer products company. SBH ’s common stock trades on the New York Stock Exchange (the “NYSE”) under the symbol “SPB.” SB/RH Holdings, LLC is a wholly-owned subsidiary of SBH . SB/RH along with its wholly-owned subsidiary Spectrum Brands, Inc. (“SBI”) issued certain debt guaranteed by domestic subsidiaries of the Company. See Note 9 “Debt” of Notes to the Consolidated Financial Statements for more information pertaining to debt. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America, Europe, Middle East & Africa (“MEA”), Latin America and Asia-Pacific regions through a variety of trade channels, including retailers, wholesalers and distributors, original equipment manufacturers (“OEMs”), construction companies and hearing aid professionals. We enjoy strong name recognition in our regions under our various brands and patented technologies. Our diversified global branded consumer products have positions in seven major product categories: consumer batteries, small appliances, personal care, hardware and home improvement, pet supplies, home and garden and auto care. We manage the businesses in five vertically integrated, product-focused segments: (i) Global Batteries & Appliances, (ii) Global Pet Supplies, (iii) Home and Garden, (iv) Hardware & Home Improvement and (v) Global Auto Care. Global and geographic strategic initiatives and financial objectives are determined at the corporate level. Each segment is responsible for implementing defined strategic initiatives and achieving certain financial objectives and has a general manager responsible for sales and marketing initiatives and the financial results for all product lines within that segment. See Note 18, “Segment Information” of Notes to the Consolidated Financial Statements for more information pertaining to segments. The following table summarizes the respective product types, brands, and regions for each of the reporting segments: Segment Products Brands Regions Global Batteries & Appliances Consumer batteries: Alkaline, zinc carbon, and NiMH rechargeable batteries; hearing aid and other specialty battery products; battery powered portable lighting products. Small appliances: small kitchen and home appliances. Personal care: electric shaving and grooming products, hair care appliances and accessories. Consumer batteries: Rayovac, VARTA. Small appliances: Black & Decker, George Foreman, Russell Hobbs, Juiceman, Breadman, and Toastmaster. Personal care: Remington. North America Europe/MEA Latin America Asia-Pacific Hardware & Home Improvement Hardware and home improvement: Residential locksets and door hardware including hinges, security hardware, screen and storm door products, garage hardware, window hardware and floor protection; commercial doors, locks, and hardware; kitchen, bath and shower faucets and plumbing products. Hardware and home improvement: Kwikset, Weiser, Baldwin, National Hardware, Stanley, Tell, Pfister. North America Europe/MEA Latin America Asia-Pacific Global Pet Supplies Pet supplies: Dog, cat and small animal food and treats; clean-up and training aid products and accessories; pet health and grooming products; aquariums and aquatic health supplies. Pet Supplies: 8-in-1, Dingo, Nature's Miracle, Wild Harvest, Littermaid, Tetra, Marineland, Whisper, Jungle, Instant Ocean, FURminator, IAMS, Eukanuba, Healthy-Hide, Digest-eeze. North America Europe/MEA Latin America Asia-Pacific Home and Garden Home and garden: Household insecticides; insect and animal repellent products; insect and weed control solutions. Home and garden: Cutter, Repel, Spectracide, Garden Safe, Liquid Fence, Hot Shot, Black Flag. North America Latin America Global Auto Care (1) Auto care: Aftermarket appearance products; performance chemicals & additives; do-it-yourself air conditioner recharge products. Auto care: Armor All, STP, A/C PRO. North America Europe/MEA Latin America Asia-Pacific (1) On May 21, 2015, the Company acquired Armored AutoGroup Parent, Inc. (“AAG”). For more information pertaining to the AAG acquisition, see Note 3, “Acquisitions.” |
Significant Accounting Policies
Significant Accounting Policies And Practices | 12 Months Ended |
Sep. 30, 2015 | |
Significant Accounting Policies And Practices [Abstract] | |
Significant Accounting Policies And Practices | NOTE 2 - Significant Accounting Policies and Practices Principles of Consolidation and Fiscal Year End The consolidated financial statements include the financial statements of the Company and its maj ority owned subsidiaries and have been prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). All intercompany transactions have been eliminated. The Company’s fiscal year ends on September 30. Throughout the year, the Company reports its results using fiscal quarters whereby each three month quarterly reporting period is approximately thirteen weeks in length and ends on a Sunday. The exceptions are the first quarter, which begins on October 1, and the fourth quarter, which ends on September 30. For the year ended September 30, 2015, the fiscal quarters were comprised of the three months ended December 28, 2014, and March 29, June 28 and September 30, 2015. 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 and Cash Equivalents The Company considers all highly liquid temporary instruments purchased with original maturities of three months or less from date of purchase to be cash equivalents. Receivables 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 or return for a given customer. The a llowance for uncollectible receivables as of September 30, 2015 and 2014 was $44.0 million and $48.6 million, respectively. The following is a rollforward of the allowance for the years ended September 30, 2015, 2014 and 2013: Beginning Charged to Other Ending (in millions) Balance Profit & Loss Deductions Adjustments Balance September 30, 2015 $ $ $ $ $ September 30, 2014 $ $ $ $ $ September 30, 2013 $ $ $ - $ - $ 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 15% , 16% and 18% of the Company’s Net Sales during years ended September 30, 2015 , 2014 and 2013 , respectively. This major customer also represented 16% and 14% of the Company’s Trade Receivables as of September 30, 2015 and 2014, respectively. 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. See Note 6, “Inventory” for further detail. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. 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 uses accelerated depreciation methods for income tax purposes. Useful lives for property, plant and equipment are as follows: Asset Type Range Buildings and improvements 20 - 40 years Machinery and equipment 2 - 15 years Expenditures which substantially increase value or extend useful lives are capitalized. Expenditures for maintenance and repairs are charged to operations as incurred. The Company records gains and losses on the disposition or retirement of property, plant and equipment based on the net book value and any proceeds received. Long-lived fixed assets held and used are reviewed for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. 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. If such indicators are present, the Company performs undiscounted cash flow analyses to determine if impairment exists. The asset value would be deemed impaired if the un discounted cash flows generated did not exceed the carrying value of the asset. If impairment is determined to exist, any related impairment loss is calculated based on fair value. There were no triggering events identified during the year that necessitated an impairment test over property, plant and equipment. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. See Note 7, “Property, plant and equipment” for further detail. Goodwill Goodwill reflects the excess of acquisition cost over the aggregate fair value assigned to identifiable net assets acquired. Goodwill is not amortized, but instead is assessed for impairment at least annually and as triggering events or indicators of potential impairment are identified . Goodwill has been assigned to reporting units for purposes of impairment testing based upon the relative fair value of the asset to each reporting unit ; our reporting units are consistent with our segments (See Note 18, “Segment Information” for further discussion). The Company performs its annual impairment test in the fourth quarter of its fiscal year. Impairment of goodwill is evaluated using a two-step approach. In the first step, the fair value of each reporting unit is compared to its carrying value, including goodwill. In estimating the fair value of our reporting units, we use a discounted cash flow methodology, which requires us to estimate future revenues , expenses, and capital expenditures and make assumptions about our weighted average cost of capital and perpetuity growth rate, among other variables. We test the aggregate estimated fair value of our reporting units by comparison to our total market capitalization, including both equity and debt capital . If the fair value of a reporting unit is less than its carrying value, step two is performed . For step two, the implied fair value of goodwill is calculated by deducting the fair value of all tangible and intangible net assets, including unrecognized intangible assets, of the reporting unit from the fair value of the reporting unit. If the implied fair va lue of goodwill is less than its carrying value, an impairment loss would be recognized equal to that excess . The fair value s of the Global Batteries & Appliances, Hardware and Home Improvement, Global Pet Supplies and Home & Garden reporting units exceeded the ir carrying value s by 54% , 38% , 29% and 66% , respectively. As a result, a step two analysis was not required and there were no reporting units that were deemed at risk of impairment. As a result of the AAG acquisition in the third quarter of the year ended September 30, 2015 , a new reporting unit and segment was established, Global Auto Care. Due to the recent closing of the acquisition and the measurement of the net assets acquired at fair value in acquisition accounting , a qualitative assessment of the carrying value of goodwill was performed for this reporting unit. This included evaluation of factors such as macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and reporting unit factors, among others. Based on its qualitative assessment, management concluded that it is not more likely than not that the fair value of this reporting unit is less than its carrying amount, and a quantitative impairment test of the acquired goodwill for Global Auto Care was not deemed necessary. See Note 8 “Goodwill and Intangible Assets” for further detail. Intangible Assets Intangible assets are recorded at cost or at estimated fair value if acquired in a business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives. The range and weighted average useful lives for definite-lived intangibles assets are as follows: Asset Type Range Weighted Average Customer relationships 2 - 20 years 18.5 years Technology assets 4 - 18 years 11.1 years Tradenames 8 - 17 years 16.2 years Definite -lived intangible assets held and used are reviewed for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be recoverable. If indicators of potential impairment are identified, the Company performs undiscounted cash flow analysis to determine if impairment exists. The asset value would be deemed impaired if the un discounted cash flows expected to be generated by the asset did not exceed its carrying value. If impairment is determined to exist, any related impairment loss is calculated based on fair value. There were no triggering events identified during the years ended September 30, 2015, 2014 and 2013 that necessitated an impairment test over definite-lived intangible assets. Certain trade name intangible assets have an indefinite life and are not amortized; but instead are assessed for impairment at least annually and as triggering events or indicators of potential impairment are identified . The Company performs its annual impairment test in the fourth quarter of its fiscal year. Impairment of indefinite lived intangible assets is assessed by comparing the estimated fair value of the identified trade names to the ir carrying value to determine if potential impairment exists. If the fair value is less than the carrying value, an impairment loss is recorded for the excess . The fair value of indefinite-lived intangible assets is determined using an income approach, the relief from royalty methodology, which requires us to make estimates and assumptions about future revenues , royalty rates, and the discount rate , among others . The fair value of our indefinite life tradenames exceeded their carrying values as of the date of our latest annual impairment testing and there was no impairment of our indefinite lived intangible assets for the years ended September 30, 2015, 2014 and 2013. See Note 8 “Goodwill and Intangible Assets” for further detail. 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. Debt issuance costs were $65.1 million and $51.1 million as of September 30, 2015 and 2014, respectively, and are included in Deferred Charges and Other Assets in the Consolidated Statements of Fina ncial Position. Amortization of debt issuance costs is recognized as Interest Expense in the Consolidated Statements of Operations. 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 or speculative purposes. Derivative assets and liabilities 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. Depending on the nature of derivatives designated as hedging instruments, changes in fair value are either offset against the change in fair value of the hedged assets or liability through earnings or recognized in shareholders’ equity through other comprehensive income until the hedged item is recognized. Any ineffective portion of a financial instrument’s change in fair value is recognized in earnings. For derivatives that do not qualify for hedge accounting treatment, the change in the fair value is recognized in earnings. See Note 11, “Derivatives” for further detail. Treasury Stock Treasury stock purchases are stated at cost and presented as a separate reduction of shareholders’ equity. 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 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 promotional arrangements, primarily with retail customers, that entitle such retailers to earn cash rebates from the Company . These arrangements require the Company to estimate and accrue the costs of the se programs , which are treated as a reduction of Net Sales. The Company 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 Company monitors its commitments under all promotion arrangements and uses various measures, including past experience, to estimate the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and 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. Capitalized slotting payments are reported in the Consolidated Statements of Financial Position as Deferred Charges and Other Asset s and related amortization is treated as a reduction in Net Sales. Shipping and Handling Costs Shipping and handling costs 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. Shipping and handling costs was $272.9 million, $260.3 million and $246.1 million during the years ended September 30, 2015 , 2014 and 2013 , respectively. Shipping and handling costs are included in Selling Expenses in the Consolidated Statements of Operations Advertising Costs Advertising costs 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 and are expensed as incurred. The Company incurred advertising costs of $35.0 million, $21.4 million and $23.0 million during the years ended September 30, 2015 , 2014 and 2013 , respectively. Advertising costs are included in Selling Expenses in the Company’s Consolidated Statements of Operations. Research and Development Costs Research and development costs are charged to expense in the period they are incurred. 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. Restructuring and Related Charges Restructuring charges include, but are not limited to, the costs 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 relocation activities, including impairment of property and other assets, departmental costs of full-time incremental employees, and any other items related to the exit or relocation activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. 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, 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. Restructuring and related charges associated with manufactu ring and related initiatives are recorded in C ost of G oods S old. Restructuring an d related charges reflected in C ost of G oods S old 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 manufacturing component of the restructuring initiative . Restructuring and related charges associated with administrative functions are recorded 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 administrative components of the restructuring initiatives implemented. See Note 4, “Restructuring and Related Charges” for further detail. Acquisition and Integration Related Charges Acquisition and integration related charges 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 integration activity. See Note 3, “Acquisitions” for further detail. 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. See Note 13, “Income Taxes” for further detail. 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 investment nature. See Note 16, “Accumulated Other Comprehensive Income” for further detail. 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 Other Non-Operating Expense, Net in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions were $9.6 million, $6.8 million, and $9.4 million for the years ended September 30, 2015 , 2014 and 2013 , respectively. |
Acquisitions
Acquisitions | 12 Months Ended |
Sep. 30, 2015 | |
Acquisitions [Abstract] | |
Acquisitions | NOTE 3 - ACQUISITIONS 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. Armored AutoGroup On May 21, 2015 , the Company completed the acquisition of AAG, a consumer products company consisting primarily of Armor All and STP products, two of the most recognizable brands in the automotive aftermarket appearance products and performance chemicals categorizes, respectively, and the A/C PRO brand of do-it-yourself automotive air conditioner recharge products. The results of AAG’s operations since May 21, 2015 are included in the Company’s Consolidated Statements of Operations and reported as a separate segment under Global Auto Care for the year ended September 30, 2015. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the May 21, 2015 acquisition date. The excess of the purchase price over the fair value 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. The calculation of purchase price and purchase price allocation is as follows: (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Deferred charges and other Accounts payable and accrued liabilities Long-term debt Other long term liabilities Net assets acquired $ The purchase price allocation resulted in goodwill of $972.1 million of which $4.9 million is deductible for tax purposes. Due to expected synergies in sales of legacy Spectrum branded products through new distribution channels, the Company has allocated $38.9 million of the acquired goodwill to its Global Batteries and Appliances segment. The remaining $933.2 million of goodwill is allocated to the Global Auto Care segment. The values allocated to intangible assets and the weighted average useful lives are as follows: (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 10 Licensing agreements 10 Customer relationships 15 Total intangibles acquired $ The fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the May 21, 2015 acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets, residual goodwill and income taxes. The following is a summary of significant inputs to the valuation: · Inventories – The replacement cost approach was applied to estimate the fair value of the raw materials and unbranded finished goods inventory. Branded finished goods were valued based on the comparative sales method, which estimates the expected sales price of the finished goods inventory, reduced for all costs expected to be incurred in its completion or disposition and a profit on those costs. · Property, plant and equipment – The market approach was used to estimate the fair value of land. The direct cost approach was used to estimate the fair value of property, plant and equipment. · Tradenames – The Company valued indefinite-lived trade names using an income approach, 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 names were not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trade names. · Technology – The Company valued technology using an income approach, 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 technology was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related licensing agreements and the importance of the technology and profit levels, among other considerations. The Company anticipates using these technologies through the legal life of the underlying patents; therefore, the expected useful life of these technologies is based on the remaining life of the underlying patents. · Licensing Agreements – The Company valued licensing agreements using the income approach. Under this method, the asset value was determined by estimating the revenue stream over the implied life of the agreements. · Customer relationships – The Company valued customer relationships using an income approach, the multi-period excess earnings method. In determining the fair value of the customer relationships, the multi-period excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the customer relationship after deducting contributory asset charges. The incremental after-tax cash flows attributa ble to the subject intangible asset are then discounted to their present value. Only expected sales from current customers were used, which are estimated using annual expected growth rates of 2.0% to 12.1% . The Company assumed a customer retention rate of approximately 95.0% , which is supported by historical retention rates. Income taxes were estimated at 38% and amounts were discounted using a rate of 9.5% . The following unaudited pro forma combined financial information presents the Company’s pro forma results for the years ended September 30, 2015 and 2014 had the results of AAG been combined as of October 1, 2013: 2015 2014 (in millions) (Unaudited) (Unaudited) Pro forma net sales $ $ Pro forma net income $ $ The 2015 unaudited pro forma com bined financial results exclude (1) a non-recurring interest expense of $35.7 million related to the extinguishment of AAG debt recognized in connection with the acquisition, (2) $47.3 million of acquisition and integration related charges incurred as a result of the acquisition (3) $18.8 million of non-recurring expense related to the fair value adjustment to acquisition date inventory and (4) $10.4 million of accelerated share based compensation costs incurred as a result of the acquisition . Salix On January 16, 2015 , the Company completed the acquisition of Salix, a vertically integrated producer and distributor of premium, natural rawhide dog chews, treats and snacks. The results of Salix’s operations since January 16, 2015 are included in the Company’s Consolidated Statements of Operations and as part of the Global Pet Supplies segment for the year ended September 30, 2015. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the January 16, 2015 acquisition date. The excess of the purchase price over the fair value 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. The calculation of the purchase price and purchase price allocation is as follows: (in millions) Purchase Price Cash consideration $ Contingent consideration Total purchase price $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Other long term liabilities Net assets acquired $ The purchase price allocation resulted in goodwill of $71.5 million of which $24.7 million is deductible for tax purposes. Goodwill was allocated to the Global Pet Supplies segment. The values allocated to intangible assets and the weighted average useful lives are as follows: (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Definite-lived tradenames 13 Technology 17 Customer relationships 13 Total intangibles acquired $ The fair values were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the January 16, 2015 acquisition date). The Company performed a valuation of the acquired inventories, property, plant and equipment, tradenames, customer relationships and non-compete agreement. A summary of the significant inputs to the valuation is as follows: · Inventories – The replacement cost approach was applied to estimate the fair value of the raw materials and unbranded finished goods inventory. Branded finished goods were valued based on the comparative sales method, which estimates the expected sales price of the finished goods inventory, reduced for all costs expected to be incurred in its completion or disposition and a profit on those costs. · Property, plant and equipment – The cost approach was utilized to estimate the fair value of approximately 98% of the property, plant and equipment. The sales comparison approach was used to estimate the fair value of the remaining 2% of the property, plant and equipment. · Tradenames – The Company valued indefinite-lived trade names using an income approach, 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 names were not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trade names. · Technology – The Company valued technology using an income approach, 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 technology was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related licensing agreements and the importance of the technology and profit levels, among other considerations. The Company anticipates using these technologies through the legal life of the underlying patents; therefore, the expected useful life of these technologies is based on the remaining life of the underlying patents. · Customer relationships – The Company valued customer relationships using an income approach, the multi-period excess earnings method. In determining the fair value of the customer relationships, the multi-period excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the customer relationship after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. Only expected sales from current customers were used, which are estimated using annual expected growth rates of 0% to 12.1% . The Company assumed a customer retention rate of approximately 92.5% , which is supported by historical retention rates. Income taxes were estimated at 38% and amounts were discounted using a rate of 12% to 13% . · Non-compete agreement – The Company valued the non-compete agreement using the income approach that compares the prospective cash flows with and without the non-compete agreement in place. The value of the non-compete agreement is the difference between the discounted cash flows of the business under each of these two alternative scenarios, considering both tax expenditure and tax amortization benefits. The Salix acquisition was not considered individually significant to the consolidated results of the Company and therefore pro forma results are not presented. European IAMS and Eukanuba On December 31, 2014 , the Company completed the acquisition of European IAMS and Eukanuba, leading premium brands for dogs and cats. Th e results of European IAMS and Eukanuba’s operations since December 31, 2014 are included in the Company’s Consolidated Statements of Operations and as part of the Global Pet Supplies segment for the year ended September 30, 2015. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the December 31, 2014 acquisition date. The excess of the purchase price over the fair value 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. The calculation of the purchase price and purchase price allocation is as follows: (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Inventories $ Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Other long term liabilities Net assets acquired $ The purchase price allocation resulted in goodwill of $4.0 million which is not deductible for tax purposes . Goodwill was allocated to the Global Pet Supplies segment. The values allocated to intangible assets and the weighted average useful lives are as follows: (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 8 Customer relationships 15 Total intangibles acquired $ The fair values were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the December 31, 2014 acquisition date). The Company performed a valuation of the acquired inventories, property, plant and equipment, tradenames, technology and customer relationships. The following is a summary of significant inputs to the valuation: · Inventories – The replacement cost approach was applied to estimate the fair value of the raw materials inventory. Work-in-process and finished goods inventory were valued at estimated selling price less the sum of costs of disposal and a reasonable profit on the value added in the completion and disposal effort. · Property, plant and equipment – The market approach was used to estimate the fair value of land. The direct cost approach was used to estimate the fair value of property, plant and equipment. · Tradenames – The Company valued indefinite-lived trade names using an income approach, 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 names were not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trade names. · Technology – The Company valued technology using an income approach, 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 technology was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions, related licensing agreements and the importance of the technology and profit levels, among other considerations. The Company anticipates using these technologies through the legal life of the underlying patents; therefore, the expected useful life of these technologies is based on the remaining life of the underlying patents. · Customer relationships – The Company valued customer relationships using an income approach, the multi-period excess earnings method. In determining the fair value of the customer relationships, the multi-period excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the customer relationship after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. Only expected sales from current customers were used, which are estimated using annual expected growth rates of 0% to 5.6% . The Company assumed a customer retention rate of approximately 90% to 100% , which was supported by historical retention rates. Income taxes were estimated at 25% and amounts were discounted using a rate of 12.5% . The European IAMS and Eukanuba acquisition was not considered individually significant to the consolidated results of the Company and therefore pro forma results are not presented. Tell Manufacturing On October 1, 2014 , the Company completed the acquisition of Tell, a leading manufacturer and distributor of commercial doors, locks, and hardware. The results of Tell’s operations since October 1, 2014 are included in the Company’s Consolidated Statements of Operations and as part of the Hardware and Home Improvement segment for the year ended September 30, 2015. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the October 1, 2014 acquisition date. The excess of the purchase price over the fair value 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. The calculation of the purchase price and purchase price allocation is as follows: (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Net assets acquired $ The purchase price allocation resulted in goodwill of $7.1 million which is deductible for tax purposes. Goodwill was allocated to the Hardware and Home Improvement segment . The values allocated to intangible assets and the weighted average useful lives are as follows: (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Customer relationships 13 Total intangibles acquired $ The Company performed a valuation of the acquired inventories, property, plant and equipment, tradenames and customer relationships. The following is a summary of significant inputs to the valuation: · Inventories – The replacement cost approach was applied to estimate the fair value of the raw materials inventory. Finished goods were valued at estimated selling price less the sum of costs of disposal and a reasonable profit on the value added in the completion and disposal effort. · Property, plant and equipment – The cost approach was used to estimate the fair value of approximately 97% of the property, plant and equipment. The sales comparison approach was utilized to estimate the fair value of the remaining 3% of the property, plant and equipment. · Tradenames – The Company valued indefinite-lived trade names using an income approach, the relief from royalty method. Under this method, the asset value was determined by estimating the hypothetical royalties that would ha ve to be paid if the trade name was not owned. Royalty rates were selected based on consideration of several factors, including prior transactions of Tell , related trademarks and trade names, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trade names. · Customer relationships – The Company valued customer relationships using an income approach, the multi-period excess earnings method. In determining the fair value of the customer relationships, the multi-period excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the customer relationship after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. Only expected sales from current customers were used, which are estimated using annual expected growth rates of 2.5% to 7.1% . The Company assumed a customer retention rate of approximately 90% , which was supported by historical retention rates. Income taxes were estimated at 38% and amounts were discounted using a rate of 20% . The Tell Manufacturing acquisition was not considered individually significant to the consolidated results of the Company and therefore pro forma results are not presented. Liquid Fence On January 2, 2014 , the Company completed the acquisition of Liquid Fence, a producer of animal repellents. The results of Liquid Fence’s operations since January 2, 2014 are included in the Company’s Consolidated Statements of Operations and as part of the Home and Garden segment for the years ended September 30, 2015 and 2014. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the January 2, 2014 acquisition date. The excess of the purchase price over the fair value 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. The calculation of the purchase price and purchase price allocation is as follows: (in millions) Purchase Price Cash consideration $ Promissory note Contingent consideration Total purchase price $ (in millions) Purchase Price Allocation Cash $ Accounts receivable Inventories Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Total assets acquired $ The purchase price included a promissory note to sellers and contingent consideration related to additional payments that may be made to the selling company subsequent to the acquisition date. The promissory note was due in four semi-annual installments over 24 months from the close of the transaction , and was paid in full during the year ended September 30, 2015. The contingent consideration is calculated based upon the probability weighted present value of expected payments based upon the achievement of specific revenue milestones through both January 1, 2015 and January 1, 2016. A contingent liability of $1.5 million was also recognized for the projected payments. The purchase price allocation resulted in goodwill of $7.1 million which is deductible for tax purposes. Goodwill was allocated to the Home & Garden segment . The values allocated to intangible assets and the weighted average useful lives are as follows: (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 17 Customer relationships 15 Total intangibles acquired $ The Company performed a valuation of the acquired tradenames, technology and customer relationships. The following is a summary of significant inputs to the valuation: · Tradenames – The Company valued the tradename using an income approach, 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, related trademarks and tradenames, other similar trademark licensing and transaction agreements and the relative profitability and perceived contribution of the trademarks and tradenames. · Technology – The Company valued the technology assets related to formulas and processes using an income approach, 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 fair value. The useful life was determined by assessing the time period in which substantially all of the discounted cash flows are expected to be generated. · Customer relationships – The Company valued customer relationships using the distributor approach. Under this method, the asset value was determined by estimating the hypothetical earnings before inter est 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 Liquid Fence acquisition was not considered individually significant to the consolidated results of the Company and therefore pro forma results are not presented. Acquisition and Integration Costs The following table summarizes acquisition and integration related charges incurred by the Company during the years ended September 30, 2015, 2014 and 2013: (in millions) 2015 2014 2013 Armored AutoGroup $ $ — $ — Salix — — HHI Business European IAMS and Eukanuba — — Tell — — Liquid Fence — Other Total acquisition and integration related charges $ $ $ |
Restructuring And Related Charg
Restructuring And Related Charges | 12 Months Ended |
Sep. 30, 2015 | |
Restructuring And Related Charges [Abstract] | |
Restructuring And Related Charges | NOTE 4 - RESTRUCTURING AND RELATED CHARGES The following table summarizes the restructuring and related charges for the years ended September 30, 2015, 2014, and 2013: (in millions) 2015 2014 2013 HHI business rationalization initiatives $ $ $ — Global expense rationalization initiatives Global cost reduction initiatives Other restructuring activities Total restructuring and related charges $ $ $ Reported as: Cost of goods sold $ $ $ Operating expense HHI Business Rationalization Initiatives During the fourth quarter of the year ended September 30, 2014, the Company implemented a series of initiatives throughout the Hardware & Home Improvement segment to reduce operating costs and exit low margin business outside the U.S. These initiatives include d headcount reductions, the exit of certain facilities and the sale of a portion of the global Hardware & Home Improvement operations. Total costs associated with these initiatives are expected to be approximately $15 million, and are anticipated to be incurred through September 30, 2016. The following is a summary of costs incurred for the years ended September 30, 2015 and 2014 by type and cumulative costs incurred through September 30, 2015 . All costs reflected are within the Hardware and Home Improvement segment. Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ — $ $ Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 — Cumulative costs through September 30, 2015 The following is a rollforward of the restructuring accrual related to the HHI business rationalization initiative for 2015 and 2014. Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ — $ — $ — Provisions — Cash expenditures — — — Accrual balance at September 30, 2014 — Provisions (adjustments) Cash expenditures — Non-cash items — Accrual balance at September 30, 2015 $ $ $ During the year ended September 30, 2015, the Company recognized $(0.6) million and $10.3 million of termination and other costs related to this initiative as paid. Global Expense Rationalization Initiatives 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. These initiatives consist ed of headcount reductions in the Global Batteries & Appliances and the Global Pet Supplies segment s, and within Corporate. Total costs associated with these initiatives are expected to be approximately $46 million, and are anticipated to be incurred through September 30, 2018. The following summarizes costs incurred for the years ended September 3 0, 2015, 2014, and 2013 by type and cumulative costs incurred through September 30, 2015 . Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ $ — $ For the year ended September 30, 2014 — For the year ended September 30, 2013 — — — Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 For the year ended September 30, 2013 Cumulative costs through September 30, 2015 The following summarizes the costs incurred for the years ended September 30, 2015, 2014 and 2013, the cumulative amount incurred to date and total future expected costs to be incurred related to this initiative by reporting segment. Global Batteries & Global Pet (in millions) Appliances Supplies Corporate Total Restructuring and related charges: For the year ended September 30, 2015 $ $ $ $ For the year ended September 30, 2014 For the year ended September 30, 2013 — Cumulative costs through September 30, 2015 Future costs to be incurred — The following is a rollforward of the restructuring accrual related to the global expense rationalization initiative for 2015 and 2014. Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ $ - $ Provisions Cash expenditures - Non-cash items Accrual balance at September 30, 2014 Provisions Cash expenditures Non-cash items — Accrual balance at September 30, 2015 $ $ $ During the year ended September 30, 2015, the Company recognized $2.5 million and $6.3 million of termination and other costs, respectively, as they were paid . During the year ended September 30, 2014, the Company recognized $3.0 million and $5.4 million of termination benefits and other costs, respectively, as they were paid . Global Cost Reduction Initiatives During the year ended September 30, 2009, the Company implemented a series of initiatives within the Global Batteries & Appliances, Global Pet Supplies and Home and Garden segment s to reduce operating costs, and to evaluate opportunities to improve the Company’s capital structure. These initiatives included headcount reductions and the exit of certain facilities within each of these segments as well as consultation, legal and accounting fees related to the evaluation of the Company’s capital structure all of which were completed during the year ended September 30, 2015. The following summarizes costs incurred for the years ended September 30, 2015, 2014 and 2013 by type and cumulative costs incurred through September 30, 2015 . Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ — $ $ For the year ended September 30, 2014 — For the year ended September 30, 2013 Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 For the year ended September 30, 2013 Cumulative costs through September 30, 2015 The following summarizes the costs incurred for the years ended September 30, 2015, 2014 and 2013, and the cumulative amount incurred through September 30, 2015 by reporting segment. Global Batteries & Global Pet Home and (in millions) Appliances Supplies Garden Corporate Total Restructuring and related charges: For the year ended September 30, 2015 $ $ — $ — $ For the year ended September 30, 2014 — — For the year ended September 30, 2013 — Cumulative costs as of September 30, 2015 The following provides a rollforward of the restructuring accrual related to the global cost reduction initiative for 2015 and 2014. Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ $ $ Provisions - Cash expenditures Non-cash items Accrual balance at September 30, 2014 Provisions — Cash expenditures Non-cash items Accrual balance at September 30, 2015 $ $ $ During the year ended September 30, 2015, the Company recognized $1.1 million of other costs related to this initiative as they were paid. During the year ended September 30, 2014, the Company recognized $1.1 million of other costs related to this initiative as they were paid. |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 12 Months Ended |
Sep. 30, 2015 | |
Derivatives [Abstract] | |
Fair Value Of Financial Instruments | NOTE 5 - FAIR VALUE OF FINANCIAL INSTRUMENTS The fair values of the Company’s financial assets and liabilities are defined as 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. Fair value measurements are classified using a fair value hierarchy that is based upon the observability of inputs used in measuring fair value . Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed assumptions about hypothetical transactions in the absent of market data . Fair value measurements are classified under the following 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 utilizes valuation techniques that attempt to maximize the use of observable inputs and minimize the use of unobservable inputs. 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, which are generally based on quoted or observed market prices (Level 2). 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 the valuation techniques used in measuring the fair value of any financial assets and liabilities during the year. The fair values of derivative instruments as of September 30, 2015 and 2014 are as follows (See Note 11, “Derivatives” for additional detail): 2015 2014 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Derivative Assets $ $ $ $ Derivative Liabilities $ $ $ $ The carrying values of cash and cash equivalents, receivable s , accounts payable and short term debt approximate fair value based on the short-term nature of these assets and liabilities. 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 values and estimated fair values for debt as of September 30, 2015 and 2014 are as follows: 2015 2014 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Total debt - Spectrum Brands Holdings, Inc. $ $ $ $ T otal debt - SB/RH Holdings, LLC $ $ $ $ The fair value measurements of the Company’s debt represent non-active market exchange-traded securities which are valued at quoted input prices that are directly observable or indirectly observable through corroboration with observable market data (Level 2). |
Inventory
Inventory | 12 Months Ended |
Sep. 30, 2015 | |
Inventory [Abstract] | |
Inventory | NOTE 6 - INVENTORY Inventories as of September 30, 2015 and 2014 consist of the following: (in millions) 2015 2014 Raw materials $ $ Work-in-process Finished goods $ $ |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Sep. 30, 2015 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment | NOTE 7 - Property, Plant and Equipment Property, plant and equipment as of September 30, 2015 and 2014 consist of the following: (in millions) 2015 2014 Land, buildings and improvements $ $ Machinery, equipment and other Capitalized leases Construction in progress Property, plant and equipment $ $ Accumulated depreciation Property, plant and equipment, net $ $ |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 12 Months Ended |
Sep. 30, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Goodwill And Intangible Assets | NOTE 8 - GOODWILL AND INTANGIBLE ASSETS Changes in the carrying amount of goodwill by reporting segment was as follows: Global Hardware & Batteries & Home Global Pet Home and Global (in millions) Appliances Improvement Supplies Garden Auto Care Total Balance, as of September 30, 2013 $ $ $ $ $ — $ Liquid Fence acquisition — — — — Adjustments — — — — Foreign currency impact — — Balance, as of September 30, 2014 — AAG acquisition — — — European IAMS and Eukanuba acquisition — — — — Salix acquisition — — — — Tell Manufacturing acquisition — — — — Foreign currency impact — Balance, as of September 30, 2015 $ $ $ $ $ $ Definite-lived intangible assets as of September 30, 2015 and 2014 consist of the following: 2015 2014 (in millions) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ $ $ $ $ $ Technology assets Tradenames Total $ $ $ $ $ $ Certain trade names intangible assets have an indefinite life and are not amortized. The balance of t rade names not subject to amortization was $1,490.3 million and $1,174.3 million as of September 30, 2015 and 2014. There was no impairment loss on indefinite- lived trade names for the years ended September 30, 2015, 2014 or 2013. Amortization expense from intangible assets for the years ended September 30, 2015, 2014 and 2013 was $87.8 million, $81.7 million and $77.8 million, respectively. Excluding the impact of any future acquisitions or changes in foreign currency, the Company anticipates the annual amortization for each of the next five years to be the following: (in millions) Amortization 2016 $ 2017 2018 2019 2020 |
Debt
Debt | 12 Months Ended |
Sep. 30, 2015 | |
Debt [Abstract] | |
Debt | NOTE 9 - DEBT Debt as of September 30, 2015 and 2014 consists of the following: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC 2015 2014 2015 2014 (in millions) Amount Rate Amount Rate Amount Rate Amount Rate Term loan, variable rate, due June 23, 2022 $ % $ — — % $ % $ — — % Term loan, variable rate, due September 4, 2017 (Tranche A) — — % % — — % % Term loan, variable rate, due September 4, 2019 (Tranche C) — — % % — — % % CAD Term Loan, variable rate, due June 23, 2022 % — — % % — — % CAD Term Loan, variable rate, due December 17, 2019 — — % % — — % % Euro Term Loan, variable rate, due June 23, 2022 % — — % % — — % Euro Term Loan, variable rate, due September 4, 2019 — — % % — — % % 5.75% Notes, due July 15, 2025 % — — % % — — % 6.125% Notes, due December 15, 2024 % — — % % — — % 6.375% Notes, due November 15, 2020 % % % % 6.625% Notes, due November 15, 2022 % % % % 6.75% Notes, due March 15, 2020 — — % % — — % % Revolver Facility, variable rate, expiring June 23, 2020 — — % — — % — — % — — % Other notes and obligations % % % % Obligations under capital leases % % % % Total debt Unamortized discount on debt Less current portion Long-term debt, net of current portion $ $ $ $ Debt held by SB/RH also includes a loan with SBH of $34.7 million and $15.8 million as of September 30, 2015 and 2014, respectively. The Company’s aggregate scheduled maturities of debt and capital lease obligations are as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) Capital Lease Obligations Debt Total Capital Lease Obligations Debt Total 2016 $ $ $ $ $ $ 2017 2018 2019 2020 Thereafter Long-term debt $ $ $ $ $ $ Term Loans and Revolver Facility On June 23, 2015, SBI entered into term loan facilities pursuant to a Senior Credit Agreement consisting of (i) a $1,450 million USD Term Loan due June 23, 2022, (ii) a $75 million CAD Term Loan due June 23, 2022 and (iii) a €300 million Euro Term Loan due June 23, 2022, (collectively, “Term Loans”) and (iv) entered into a $500 million Revolver Facility due June 23, 2020 (the “Revolver”). The proceeds from the Term Loans and draws on the Revolver were used to repay SBI’s then-existing senior term credit facility, repay SBI’s outstanding 6.75% senior unsecured notes due 2020, repay and replace SBI’s then-existing asset based revolving loan facility, and to pay fees and expenses in connection with the refinancing and for general corporate purposes. The Term Loans and Revolver are subject to variable interest rates, (i) the USD Term Loan is subject to either adjusted LIBOR (International Exchange London Interbank Offered Rate), subject to a 0.75% floor, plus 3.0% per annum, or base rate plus 2.0% per annum, (ii) the CAD Term Loan is subject to either CDOR (Canadian Dollar Offered Rate), subject to a 0.75% floor plus 3.5% per annum, or base rate plus 2.5% per annum, (iii) the Euro Term Loan is subject to either EURIBOR (Euro Interbank Offered Rate), subject to a 0.75% floor, plus 2.75% per annum, with no base rate option available and (iv) the Revolver is subject to either adjusted LIBOR plus 3.0% per annum, or base rate plus 2.0% per annum. Subject to certain mandatory prepayment events, the Term Loans are subject to repayment according to scheduled amortizations, with the final payments of all amounts outstanding, plus accrued and unpaid interest, due at maturity. The Senior Credit Agreement contains customary affirmative and negative covenants, including, but not limited to, restrictions on SBI and its restricted subsidiaries’ ability to incur indebtedness, create liens, make investments, pay dividends or make certain other distributions, and merge or consolidate or sell assets, in each case subject to certain exceptions set forth in the Senior Credit Agreement. Additionally, the Senior Credit Agreement, solely with respect to the Revolver Facility, contains a financial covenant on the maximum net total leverage ratio that is tested on the last day of each fiscal quarter commencing with the fiscal quarter ended September 30, 2015. The Company was in compliance with all covenants as of September 30, 2015. Pursuant to a guarantee agreement, SB/RH and the material wholly-owned domestic subsidiaries of SBI have guaranteed SBI’s obligations under the Senior Credit Agreement and related loan documents. Pursuant to a security agreement, SBI and such subsidiary guarantors have pledged substantially all of their respective assets to secure such obligations and, in addition, SB/RH has pledged the capital stock of SBI to secure such obligations. The Senior Credit Agreement also provides for customary events of default including payment defaults and cross-defaults to other material indebtedness. The Term Loans were issued net of a $5.1 million discount, which is amortized with a corresponding charge to interest expense over the remaining life of the loans. The Company incurred $18.5 million of debt issuance costs of which $8.1 million was capitalized as debt issuance costs and the remainder of $10.4 million was recognized as interest expense during the year ended September 30, 2015. The Company recognized accelerated amortization of portions of the unamortized discount and unamortized debt issuance costs related to the then-existing Term Loans of $7.7 million. In connection with the new Revolver Facility, the Company incurred $5.7 million of fees that were capitalized as debt issuance costs and are being amortized over the remaining life of the Revolver Facility. The Company recorded accelerated amortization of portions of the unamortized debt issuance costs related to the refinancing of the previous revolver facility totaling $1.1 million as an increase to interest expense during the year ended September 30, 2015. As of September 30, 2015, the Company had aggregate borrowing availability of $467.3 million, net of outstanding letters of credit of $32.7 million. 5.75% Notes On May 20, 2015, in connection with the acquisition of the AAG Business, SBI issued $1,000 million aggregate principal amount of 5.75% Notes at par value, due July 15, 2025 (the “5.75% Notes”). The 5.75% Notes are guaranteed by SB/RH as well as by SBI’s existing and future domestic subsidiaries. SBI may redeem all or a part of the 5.75% Notes, at any time on or after July 15, 2020, at specified redemption prices. In addition, prior to July 15, 2020, SBI may redeem the notes at a redemption price equal to 100% of the principal amount plus a “make-whole” premium. SBI is also entitled to redeem up to 35% of the aggregate principal amount of the notes before July 15, 2018 with an amount of cash equal to the net proceeds that SBI raises in equity offerings at specified redemption prices. Further, the indenture governing the 5.75% Notes (the “2025 Indenture”) requires SBI 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 SBI, as defined in the 2025 Indenture. The 2025 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 2025 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 2025 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 5.75% Notes. If any other event of default under the 2025 Indenture occurs and is continuing, the trustee for the 2025 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 5.75% Notes, may declare the acceleration of the amounts due under those notes. The Company recorded $19.7 million of fees in connection with the offering of the 5.75% Notes during th e year ended September 30, 2015, which have been capitalized as debt issuance costs and are being amortized over the remaining life of the 5.75% Notes. 6.125% Notes On December 4, 2014, SBI issued $250 million aggregate principal amount of 6.125% Notes at par value, due December 15, 2024 (the”6.125% Notes”). The 6.125% Notes are guaranteed SB/RH, as well as by SBI’s existing and future domestic subsidiaries. SBI may redeem all or a part of the 6.125% Notes, at any time on or after December 15, 2019, at specified redemption prices. Prior to December 15, 2019, SBI may redeem the notes at a redemption price equal to 100% of the principal amount plus a “make-whole” premium. SBI is also entitled to redeem up to 35% of the aggregate principal amount of the notes before December 15, 2017 with an amount of cash equal to the net proceeds that SBI raises in equity offerings at specified redemption prices. Further, the indenture governing the 6.125% Notes (the “2024 Indenture”) requires SBI 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 SBI, as defined in the 2024 Indenture. The 2024 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 2024 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 2024 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.125% Notes. If any other event of default under the 2024 Indenture occurs and is continuing, the trustee for the 2024 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.125% Notes, may declare the acceleration of the amounts due under those notes. The Company recorded $4.6 million of fees in connection with the offering of the 6.125% Notes during the year ended September 30, 2015, which have been capitalized as debt issuance costs and are being amortized over the remaining life of the 6.125% Notes. 6.375% Notes and 6.625% Notes On December 17, 2012, in connection with the acquisition of HHI Business, the Company assumed $520 million aggregate principal amount of 6.375% Notes at par value, due November 15, 2020 (the “6.375% Notes”), and $570 million aggregate principal amount of 6.625% Notes at par value, due November 15, 2022 (the “6.625% Notes”). The 6.375% Notes and 6.625% Notes are unsecured and guaranteed by SB/RH , as well as by existing and future domestic restricted subsidiaries. The Company ma y redeem all or a part of the 6. 375% Notes and the 6.625% Notes, upon not less than 30 or more than 60 days 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 interest s , 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 $12.9 million and $14.1 million of fees in connection with the offering of the 6.375% Notes and the 6.625% Notes, respectively during the year ended September 30, 2013 which were capitalized as debt issuance costs and amortized over the remaining lives of the 6.375% Notes and 6.625% Notes, respectively. 6.75% Notes On June 23, 2015, SBI called the 6.75% Notes. In connection with the call, SBI paid the trustee principal, interest and a call premium sufficient to redeem the $300 million of 6.75% Notes outstanding. The trustee under the indenture governing the 6.75% Notes accepted those funds in trust for the benefit of the holders and has acknowledged the satisfaction and discharge of the 6.75% Notes and the indenture governing the 6.75% Notes. On July 23, 2015, the Trustee redeemed the 6.75% Notes. In connection with the redemption, the Company recognized $16.9 million of fees and expenses as interest expense and wrote off $4.1 million of debt issuance costs as a non-cash charge to interest expense for the year ended September 30, 2015. |
Leases
Leases | 12 Months Ended |
Sep. 30, 2015 | |
Leases [Abstract] | |
Leases | NOTE 10 - LEASES The Company has leases primarily pertaining to land, buildings and equipment that expire at various times through July 2024. 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 are as follows: (in millions) Amount 2016 $ 2017 2018 2019 2020 Thereafter Total minimum lease payments $ Rent expense was $ 36.3 million , $40.8 million and $41.8 million for the years ended September 30, 2015 , 2014 and 2013 , respectively. |
Derivatives
Derivatives | 12 Months Ended |
Sep. 30, 2015 | |
Derivatives [Abstract] | |
Derivatives | NOTE 11 - DERIVATIVES 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. 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. Cash Flow Hedges Interest Rate Swaps. 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 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. As of September 30, 2015 and 2014, the Company had a series of U.S. dollar denominated interest rate swaps outstanding which effectively fix the interest on variable rate debt, exclusive of lender spreads, at 1.36% for a notional principal amount of $300 .0 million through April 2017. The Company’s interest rate swap derivative financial instruments at September 30, 2015 and 2014 are as follows: 2015 2014 (in millions) Notional Amount Remaining Years Notional Amount Remaining Years Interest rate swaps - fixed $ $ Commodity Swaps. 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. The Company had the following outstanding commodity swap contracts outstanding as of September 30, 2015 and 2014. 2015 2014 (in millions, except notional) Notional Contract Value Notional Contract Value Zinc swap contracts 10.8 Tons $ 8.0 Tons $ Brass swap contracts 1.8 Ton $ 0.6 Ton $ Foreign exchange contracts. 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 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 Cost of Goods Sold, respectively. At September 30, 2015 and 2014, the Company had foreign exchange derivative contracts designated as cash flow hedges with a notional value of $300.6 million and $226.7 million, respectively. Derivative Contracts Not Designated As Hedge s for Accounting Purposes Foreign exchange contracts. 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, 2015 and 2014 , the Company had $126.8 million and $108.9 million , respectively, of notional value for such foreign exchange derivative contracts outstanding. Commodity Swaps. 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. The Company had the following outstanding commodity swap contracts outstanding as of September 30, 2015 and 2014. 2015 2014 (in millions, except notional) Notional Contract Value Notional Contract Value Silver 25.0 troy oz. $ 25.0 troy oz. $ Fair Value of Derivative Instruments The fair value of the Company’s outstanding derivative instruments in the Consolidated Statements of Financial Position are as follows: (in millions) Line Item 2015 2014 Derivative Assets Interest rate swaps - designated as hedge Deferred charges and other $ — $ Commodity swaps - designated as hedge Receivables—Other — Foreign exchange contracts - designated as hedge Receivables—Other Foreign exchange contracts - designated as hedge Deferred charges and other Foreign exchange contracts - not designated as hedge Receivables—Other Total Derivative Assets $ $ Derivative Liabilities Interest rate swaps - designated as hedge Other current liabilities $ $ Interest rate swaps - designated as hedge Accrued interest Interest rate swaps - designated as hedge Other long-term liabilities — Commodity swaps - designated as hedge Accounts payable Commodity swaps - designated as hedge Other long-term liabilities — Commodity swaps - not designated as hedge Accounts payable Foreign exchange contracts - designated as hedge Accounts payable — Foreign exchange contracts - not designated as hedge Accounts payable Total Derivative Liabilities $ $ 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 less than $0.1 million for the years ended September 30, 2015 and 2014. 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. As of September 30, 2015 and 2014, there was $3.5 million and less than $0.1 million, respectively, of posted cash collateral related to such liability positions. In addition, as of September 30, 2015 and 2014, the Company had no posted standby letters of credit related to such liability positions. The cash collateral is included in Other Receivables within the Consolidated Statements of Financial Position. The following table summarizes the impact of the effective and ineffective portions of cash flow hedges and the gain (loss) recognized in the Consolidated Statement of Operations for the years ended September 30, 2015, 2014 and 2013: Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2015 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ Interest expense $ Interest expense $ — Commodity swaps Cost of goods sold Cost of goods sold — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2014 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ Interest expense $ Interest expense $ — Commodity swaps Cost of goods sold Cost of goods sold — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2013 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Commodity swaps $ Cost of goods sold $ Cost of goods sold $ — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — The unrealized loss on derivative contracts in Accumulated Other Comprehensive Loss expected to be recognized during the year ended September 30, 2016 is $2.8 million. The following table summarizes the gain (loss) associated with derivative contracts not designated at hedges in the Consolidated Statements of Operations for the years ended September 30, 2015, 2014 and 2013. (in millions) Line Item 2015 2014 2013 Commodity swaps Cost of goods sold $ $ $ Foreign exchange contracts Other expense, net $ $ Total $ $ $ |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Sep. 30, 2015 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | NOTE 12 - 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. The following tables provide additional information on the Company’s pension plans as of September 30, 2015 and 2014: U.S. Plans Non U.S. Plans (in millions) 2015 2014 2015 2014 Changes in benefit obligation: Benefit obligation, beginning of year $ $ $ $ Obligations assumed from acquisitions — — — Transfer of obligation — — — Service cost Interest cost Actuarial (gain) loss Curtailments — — — Participant contributions — — — Benefits paid Foreign currency exchange rate changes — — Benefit obligation, end of year $ $ $ $ Changes in plan assets: Fair value of plan assets, beginning of year $ $ $ $ Actual return on plan assets Employer contributions Employee contributions — — — Benefits paid Foreign currency exchange rate changes — — Fair value of plan assets, end of year $ $ $ $ Funded Status $ $ $ $ Amounts recognized in statement of financial position Deferred charges and other $ — $ — $ — $ Other accrued expenses Other long-term liabilities Accumulated other comprehensive income (loss) Weighted average assumptions Discount rate 4.25% 4.15% 1.75 - 13.81% 2.00 - 13.50% Expected return on plan assets 7.25% 7.50% 3.50 - 5.26% 2.00 - 5.26% Rate of compensation increase N/A N/A 2.25 - 5.50% 2.25 - 5.50% Amounts reclassified from A ccumulated O ther C omprehensive Loss associated with employee benefit plan costs and recognized on the Company’s Consolidated Statement s of Operations for the years ended September 30, 2015, 2014 and 2013 were as follows: (in millions) 2015 2014 2013 Cost of goods sold $ $ $ Selling expenses General and administrative expenses Amounts reclassified from accumulated other comprehensive loss $ $ $ The net loss in Accumulated Other Comprehensive Loss expected to be recognized during the year ended September 30, 2016 is $2.4 million. The following table contains the components of net periodic benefit cost for the year s ended September 30, 2015, 2014 and 2013: U.S Plans Non U.S. Plans (in millions) 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on assets Curtailment — — — Recognized net actuarial loss Net periodic benefit cost $ $ $ $ $ $ Weighted average assumptions Discount rate 4.15% 4.65% 3.75% 2.00 - 13.50% 2.25 - 12.50% 1.75 - 13.00% Expected return on plan assets 7.50% 7.75% 7.75% 2.00 - 5.26% 4.00 - 5.76% 3.60 - 5.00% Rate of compensation increase N/A N/A N/A 2.25 - 5.50% 2.25 - 5.50% 2.25 - 5.50% 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. The expected return on plan assets is based on the Company’s expectation of the long-term average rate of return of the capital market in which the plans invest. The expected return reflects the target asset allocations and considers the historical returns earned for each asset category. 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 plan assets currently do not include holdings of the Company’s common stock. Below is a summary allocation of all pension plan assets as of September 30, 2015 and 2014: US Plans Non U.S. Plans Asset Type 2015 2014 2015 2014 Equity Securities % % % % Fixed Income Securities % % % % Other % % % % Total % % % % The fair value of pension plan assets by asset category as of September 30, 2015 and 2014 are as follows: As of September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total Equity Securities U.S. equity securities $ $ $ — $ Foreign equity securities — Debt Securities U.S. bonds — Foreign bonds — Foreign government bonds — — Real estate — Life insurance contracts — — Other — — Foreign cash & cash equivalents — — Total plan assets $ $ $ — $ As of September 30, 2014 (in millions) Level 1 Level 2 Level 3 Total Equity Securities U.S. equity securities $ $ $ — $ Foreign equity securities — Debt Securities U.S. bonds — Foreign bonds — Foreign government bonds — — Real estate — Life insurance contracts — — Other — — Foreign cash & cash equivalents — Total plan assets $ $ $ — $ The following benefit pa yments are expected to be paid: (in millions) US Plans Non U.S. Plans 2016 $ $ 2017 2018 2019 2020 2021-2025 Other Postretirement 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 cost trend rate. The plan is unfunded. The Company is amortizing the transition obligation over a 20 -year period. The projected benefit obligation as of September 30, 2015 and 2014 was $0.4 million and recognized as Other Long-Term Liabilities in the Consolidated Statements of Financial Position. Net periodic cost was less than $0.1 million for the years ended September 30, 2015, 2014 , and 2013 . Defined Contribution Plans 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 th e years ended September 30, 2015, 2014 and 2013 were $11.2 million, $12.3 million, and $11.1 million. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 13 - INCOME TAXES Income tax expense was calculated based upon the following components of income (loss) from operations before income tax es for the years ended September 30, 2015, 2014, and 2013: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 United States $ $ $ $ $ $ Outside the United States Income (loss) from operations before income taxes $ $ $ $ $ $ The components of income tax expense for the years ended September 30, 2015, 2014 and 2013 are as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 Current tax expense: U.S. Federal $ $ $ — $ $ $ — Foreign State and local Total current tax expense Deferred tax expense: U.S. Federal Foreign State and local Total deferred tax expense Income tax expense $ $ $ $ $ $ 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: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 U.S. Statutory federal income tax expense (benefit) $ $ $ $ $ $ Permanent items Foreign statutory rate vs. U.S. statutory rate State income taxes, net of federal effect Residual tax on foreign earnings Investment in foreign subsidiary — — — — Purchase accounting benefit — — Change in valuation allowance Unrecognized tax expense Foreign tax law changes — — — — Nondeductible share based compensation Adjustment to prior year NOLs — — — — Return to provision adjustments and other, net Income tax expense $ $ $ $ $ $ The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities as of September 30, 2015 and 2014 are as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2015 2014 Deferred tax assets Employee benefits $ $ $ $ Restructuring Inventories and receivables Marketing and promotional accruals Prepaid royalty Property, plant and equipment Unrealized losses Intangibles Investment in non-US subsidiaries — — Net operating loss and credit carry forwards Other Total deferred tax assets Deferred tax liabilities Property, plant and equipment Unrealized gains Intangibles Taxes on unremitted foreign earnings Other Total deferred tax liabilities Net deferred tax liabilities Valuation allowance Net deferred tax liabilities, net valuation allowance $ $ $ $ Reported as: Prepaid expenses and other $ $ $ $ Deferred charges and other Other current liabilities Deferred taxes (noncurrent liability) During the fourth quarter of the year ended September 30, 2015, the Company recognized $23.3 million of deferred tax assets related to its investment in one of its foreign subsidiaries because it is expected to reverse in the foreseeable future. The Company also recorded a $14.4 million reduction in its net operating loss deferred tax assets, with a corresponding reduction in the valuation allowance, to reflect losses used as a result of prior year adjustments. 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. T he Company has provided residual taxes on $37.5 million of distributions from foreign earnings for the year ended September 30, 2015 with no earnings not yet taxed in the U.S. resulting in a decrease in income tax expense of $0.3 million. T he Company has provided residual taxes on $190.5 million of distributions from foreign earnings for the year ended September 30, 2014 with $3.1 million of earnings not yet taxed in the U.S. resulting in an increase in income tax expense of $0.1 million. For the year ended September 30, 2014, $178.7 million of the distributions related to one-time internal restructuring and external debt refinancing activities. Remaining undistributed earnings of the Company’s foreign operations are $183.8 million at September 30, 2015, and are intended to remain permanently invested. Accordingly, no residual income taxes have been provided on those earnings. 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, 2015, the Company has U.S. federal net operating loss carryforwards (“NOLs”) of $894.5 million with a federal tax benefit of $313.1 million and tax benefits related to state NOLs of $68.7 million and capital loss carryforwards of $14.2 million with a federal and state tax benefit of $5.4 million. The Company has an additional $59.6 million of federal and state NOLs for which benefits will be recorded to Additional Paid-in Capital when these carryforwards are used. These NOLs expire through years ending in 2035 . As of September 30, 2015, the Company has foreign NOLs of $127.6 million which will expire beginning in the Company's fiscal year ending September 30, 2016 . 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, 2015, that $ 272.9 million of the total U.S. federal NOLs with a federal tax benefit of $95.5 million and $16.7 million 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, 2015, that $29.4 million 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, 2015, the valuation allowance was $305.4 million , of which $268.7 million is re lated to U.S. net deferred tax assets and $36.7 million is related to foreign net deferred tax assets. As of September 30, 2014, the valuation allowance was $333.1 million, of which $299.1 million re lated to U.S. net deferred tax assets and $34.0 million related to foreign net deferred tax assets . During the year ended September 30, 2015, the Company decreased its valuation allowance for deferred tax assets by $27.7 million, of which $30.4 million related to a decrease in valuation allowance against U.S. net deferred tax asset and $2.7 million related to an increase in the valuation allowance ag ainst foreign net deferred tax asset . As a result of the AAG acquisition, the Company reversed $22.8 million of U.S. valuation allowance during the year ended September 30, 2015. The reversal was attributable to $22.8 million of net deferred tax liabilities recorded on the AAG acquisition balance sheet which offset other U.S net deferred tax assets. During the year ended September 30, 2015, the Company recorded valuation allowances of $17.0 million against the deferred tax assets of various Latin America entities as it is more likely than not that the Company will not obtain tax benefits from these assets. During the year ended September 30, 2014, the Company decreased its valuation allowance for deferred tax assets by $121.5 million, of which $122.6 million related to a decrease in the valuation allowance ag ainst U.S. net deferred tax assets and $1.1 million related to an increase in the valuation allowance ag ainst foreign net deferred tax assets . As a result of the one time internal restructuring and debt refinancing activities, the Company reversed $62.6 million of U.S. valuation allowance during the year ended September 30, 2014. As a result of the purchase of HHI Business, the Company reversed $49.8 million of U.S. valuation allowance during the year ended September 30, 2013. The reversal was attributable to $49 .8 million of net deferred tax liabilities recorded on the HHI Business purchase accounting balance sheet which offset other U.S. net deferred tax assets. The total amount of unrecognized tax benefits at September 30, 2015 and 2014 are $14.1 million and $11.3 million, respectively. If recognized in the future, $11.4 million of the unrecognized tax benefits as of September 30, 2015 will impact the effective tax rate and $2.7 million 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, 2015 and 2014 the Company had $2.8 million and $3.5 million, respectively, of accrued interest and penalties related to uncertain tax positions. The impact on income tax expense related to interest and penalties for the years ended September 30, 2015, 2014 and 2013 was a net increase of $0.9 million, a net increase of $1.1 million and a net decrease of less than $0.1 million, respectively . The following table summarizes the changes to the amount of unrecognized tax benefits for the years ended September 30, 2015, 2014 and 2013: (in millions) 2015 2014 2013 Unrecognized tax benefits, beginning of year $ $ $ Gross increase – tax positions in prior period Gross decrease – tax positions in prior period Gross increase – tax positions in current period Settlements Lapse of statutes of limitations Unrecognized tax benefits, end of year $ $ $ 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, 2011 are closed. However, the federal NOLs from the Company’s fiscal years ended September 30, 2011 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. 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, 2015, 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. |
Related Parties
Related Parties | 12 Months Ended |
Sep. 30, 2015 | |
Related Parties [Abstract] | |
Related Parties | NOTE 14 - RELATED PARTIES The Company is subject to a stockholder agreement, dated February 9, 2010 (“Stockholder Agreement”), with its majority shareholder, HRG Group, Inc. (“HRG”), which provides certain protective provisions in favor of minority stockholders and provides certain rights and imposes certain obligations on HRG and its affiliates , including: · for so long as the HRG and their affiliates beneficially own 40% or more of the outstanding voting securities of the Company, HRG and the Company will cooperate to ensure, to the greatest extent possible, the continuation of the structure of the Company’s board of directors as described in the Stockholder Agreement; · HRG will not effect any transfer of equity securities of the Company to any person that would result in such person and its affiliates owning 40% or more of the outstanding voting securities of the Company, unless specified conditions are met; and · HRG will be granted certain access and informational rights with respect to the Company and its subsidiaries. Certain provisions of the Stockholder Agreement terminate on the date on which the HRG no longer constitutes a Significant Stockholder (as defined in the Stockholder Agreement). The Stockholder Agreement terminates when any person, including HRG, acquires 90% or more of the outstanding voting securities of the Company. HRG and the Company also entered into a registration rights agreement, dated as of February 9, 2010 (the “Registration Rights Agreement”), pursuant to which HRG and its affiliates 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 the Company’s common stock. Jefferies LLC (“Jefferies”), a wholly owned subsidiary of Leucadia National Corporation, which through subsidiaries beneficially owns more than 10% of the outstanding common stock of HRG, which in turn owned 58% of the Company’s outstanding common stock as of September 30, 2015, acted as (i) one of the initial purchasers for SBI’s offering of $1.0 billion of its 5.75% Notes due 2025 , for which Jefferies received $2.6 million in discounts , commissions and reimbursements of expenses , (ii) one of the underwriters for the Company’s $575 million offering of common stock in May 2015, for which Jefferies received $1.5 million in discounts , commissions and reimbursements of expenses, and (iii) one of the financing institutions that committed to provide “back stop” bridge facilities in an aggregate amount of $1.5 billion in connection with the financing of the AAG acquisition, for which Jefferies received $2.1 million in fees and reimbursements of expenses. |
Share Based Compensation
Share Based Compensation | 12 Months Ended |
Sep. 30, 2015 | |
Share Based Compensation [Abstract] | |
Share Based Compensation | NOTE 15 – SHARE BASED COMPENSATION On October 21, 2010, the Board adopted the Spectrum Brands Holdings, Inc. 2011 Omnibus Equity Award Plan (the “Equity Plan”). During the year ended September 30, 2014, the Equity Plan was amended to increase the number of shares issuable under the Equity Plan to 5,626 shares of common stock of the Company, net of cancellations. The Company measures the compensation expense of its stock-based compensation awards, which consist of restricted stock units (“RSUs”), based on the fair value of the awards at the date of grant, and recognizes these costs on a straight line basis over the requisite service period of the awards. The fair value of the RSUs is determined based on the market price of the Company’s shares of common stock on the grant date. During the year ended September 30, 2015, the Company granted 0.6 million RSUs, which include 0.1 million units that vested immediately or within 12 months, 0.2 unit million units that vest over a one year period, and 0.3 million units that are performance-based and vest within a two -year period. During the year ended September 30, 2014, the Company granted 0.7 million RSUs, which include 0.3 million units that vested immediately or within 12 months, 0.1 million units that vest over a one year period and 0.3 million units that are performance-based and vest within a two year period. During the year ended September 30, 2013, the Company granted 0.7 million RSUs, which include 0.1 million that vest over a one year period and 0.6 million that are both performance and time-based and vest over a one year performance-based period followed by a one year time-based period. Share based compensation expense recognized by SBH during the years ended September 30, 2015, 2014 and 2013 was $47.6 million, $46.8 million, and $43.9 million, respectively. Share based compensation expense recognized by SB/RH during the years ended September 30, 2015, 2014 and 2013 was $41.8 million, 44.9 million and 43.1 million, respectively. Share based compensation expense is recognized as General and Administrative Expenses on the Consolidated Statements of Operations. The remaining unamortized compensation cost related to non-vested restricted stock units at September 30, 2015 is $ 28.1 million and $ 23.2 million for the SBH and SB/RH, respectively. The following is a summary of the RSU activity for the years ended September 30, 2015, 2014 and 2013: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Weighted Weighted Average Average Grant Date Fair Value Grant Date Fair Value (in millions, except per share data) Shares Fair Value at Grant Date Shares Fair Value at Grant Date Non-vested restricted stock units at September 30, 2012 $ $ $ $ Granted Forfeited Vested Non-vested restricted stock units at September 30, 2013 $ $ Granted Forfeited — — Vested Non-vested restricted stock units at September 30, 2014 $ $ Granted Forfeited Vested Non-vested restricted stock units at September 30, 2015 $ $ |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE INCOME The changes in the components of accumulated other comprehensive income (loss), net of taxes, was as follows: Foreign Employee Currency Derivative Benefit (in millions) Translation Hedging Plans Total Year Ended September 30, 2013 Accumulated other comprehensive (loss) income, as of September 30, 2012 $ $ $ $ Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive (loss) income — Other comprehensive (loss) income Deferred tax effect — Deferred tax valuation allowance — Other comprehensive (loss) income, net of tax Other comprehensive (loss) income attributable to non-controlling interest — — Other comprehensive (loss) income attributable to controlling interest Accumulated other comprehensive (loss) income, as of September 30, 2013 Year Ended September 30, 2014 Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive income (loss) — Other comprehensive (loss) income, year ended September 30, 2014 Deferred tax effect — Deferred tax valuation allowance — — Other comprehensive (loss) income, net of tax Other comprehensive income (loss) attributable to non-controlling interest — — Other comprehensive income (loss) attributable to controlling interest Accumulated other comprehensive income (loss), September 30, 2014 Year Ended September 30, 2015 Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive income (loss) — Other comprehensive (loss) income, year ended September 30, 2015 Deferred tax effect — Deferred tax valuation allowance — Other comprehensive (loss) income, net of tax Other comprehensive income (loss) attributable to non-controlling interest — — Other comprehensive income (loss) attributable to controlling interest Accumulated other comprehensive income (loss), September 30, 2015 $ $ $ $ See Note 11, “Derivatives” for further detail on the Company’s derivative hedging activity. See Note 12, “Employee Benefit Plans” for further detail over the Company’s defined benefit plans. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Sep. 30, 2015 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | NOTE 17 - COMMITMENTS AND CONTINGENCIES 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 has provided for the estimated costs of $4.4 million and $4.6 million, as of September 30, 2015 and 2014, respectively, 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 that may result from resolution of these matters, will not have a material adverse effect on the consolidated financial condition, results of operations or cash flows of the Company. |
Segment Information
Segment Information | 12 Months Ended |
Sep. 30, 2015 | |
Segment Information [Abstract] | |
Segment Information | NOTE 18 - SEGMENT INFORMATION The Company identifies its segments using the “management approach,” which designates the internal organization that is used by management for making operating decisions and assessing performance as the source of the Company’s reportable segments. The Company manufactures, markets and/or distributes multiple product lines through various distribution networks, and in multiple geographic regions. The Company manages its business in f ive vertically integrated, product-focused reporting segments: (i) Global Batteries & Appliances, which consists of the Company’s worldwide battery, electric personal care and small appliances; (ii) Hardware & Home Improvement, which was established through the HHI acquisition on December 21, 2012 and consists of the Company’s worldwide hardware, home improvement and plumbing business; (iii) Global Pet Supplies, which consists of the Company’s worldwide pet supplies business; (iv) Home and Garden, which consists of the Company’s home and garden and insect control business and (v) Global Auto Care, which was established through the AAG acquisition on May 21, 2015 and consists of the Company’s automotive appearance and performance products. Global strategic initiatives and financial objectives for each reportable segment are determined at the corporate level. Each 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 the segment. Net sales relating to the segments for the years ended September 30, 2015, 2014 and 2013 are as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Net sales to external customers (in millions) 2015 2014 2013 2015 2014 2013 Consumer batteries $ $ $ $ $ $ Small appliances Personal care Global Batteries & Appliances Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Net sales $ $ $ $ $ $ Segment profit does not include corporate expenses, acquisition and integration related charges, restructuring and related charges, impairment charges, interest expense, income tax expense, and other non-operating expenses. Corporate expenses primarily include general and administrative expenses and the costs of stock compensation plans which are evaluated on a consolidated basis and not allocated to the segments. Segment profit in relation to the Company’s reportable segments for the years ended September 30, 2015, 2014 and 2013 is as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Segment Profit (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Total segment profit Corporate expense Acquisition and integration related charges Restructuring and related charges Interest expense Other non-operating expenses, net Income (loss) from operations before income taxes $ $ $ $ $ $ Other financial information relating to the Company’s segments is as follows for the years ended September 30, 2015, 2014 and 2013 and as of September 30, 2015 and 2014: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Depreciation and amortization (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Total segments Corporate — — — — — — Total depreciation and amortization $ $ $ $ $ $ Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Capital expenditures (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Business Global Auto Care — — — — Total segment capital expenditures Corporate — — — — — — Total capital expenditures $ $ $ $ $ $ Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Segment total assets (in millions) 2015 2014 2015 2014 Global Batteries & Appliances $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — Total segment assets Corporate Total assets $ $ $ $ Net sales for the years ended September 30, 2015, 2014 and 2013 and long-lived asset information as of September 30, 2015 and 2014 by geographic area are as follows: Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Net sales to external parties - Geographic Disclosure (in millions) 2015 2014 2013 2015 2014 2013 United States $ $ $ $ $ $ Europe /MEA Latin America North America - Other Asia-Pacific Net sales $ $ $ $ $ $ Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Long-lived assets - Geographic Disclosure (in millions) 2015 2014 2015 2014 United States $ $ $ $ Europe /MEA Latin America North America - Other Asia-Pacific Total long-lived assets $ $ $ $ |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share - SBH [Abstract] | |
Earning Per Share | NOTE 19 - EARNINGS PER SHARE - SBH Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the dilution that would occur if restricted stock units were converted into common shares that then shared in the net income (loss) of the entity, as long as their effect is not antidilutive. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of potentially diluted share-based awards, including restricted stock units. The Company uses the treasury stock method to reflect dilution of restricted stock units. The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation and the anti-dilutive shares for the years ended September 30, 2015, 2014 and 2013, is as follows: (in millions, except per share amounts) 2015 2014 2013 Numerator Net income (loss) attributable to controlling interest $ $ $ Denominator Weighted average common shares outstanding - basic - Dilutive shares - Weighted average common shares outstanding - diluted Earnings per share Basic earnings per share $ $ $ Diluted earnings per share $ $ $ Weighted average number of anti-dilutive shares excluded from denominator Restricted stock units - Performance based restricted stock units are considered anti-dilutive if the performance targets upon which the issuance of the shares is contingent have not been achieved and the respective performance period has not been completed as of the end of the current period. During the year ended September 30, 2013, the Company did not assume the exercise of common stock equivalents for restricted stock units as the impact would have been antidilutive due to the net loss in the period. |
Guarantor Statements - SB_RH Ho
Guarantor Statements - SB/RH Holdings, LLC | 12 Months Ended |
Sep. 30, 2015 | |
Guarantor Statements - SB/RH [Abstract] | |
Guarantor Statements - SB/RH Holdings, LLC | NOTE 20 – GUARANTOR STATEMENTS – SB/RH SBI and SB/RH ( collectively, the “Parent”) , with their domestic subsidiaries as guarantors, has issued the 6.375% Notes and the 6.625% Notes under the 2020/22 Indenture , 6.125% Notes under the 2024 Indenture and the 5.75% Notes under the 2025 Indenture . See Note 9, “Debt” for further information on the 6.375% Notes , 6.625% Notes, 6.125% Notes and 5.75% Notes . The following consolidating financial statements illustrate the components of the consolidated financial statements of SB/RH . Investments in subsidiaries are accounted for using the equity method for purposes of illustrating the consolidating presentation. The elimination entries presented herein eliminate investments in subsidiaries and intercompany balances and transactions. Statement of Financial Position Guarantor Nonguarantor As of September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ $ $ $ — $ Trade receivables, net — Intercompany receivables — Other receivables — Inventories Prepaid expenses and other Total current assets Property, plant and equipment, net — Long-term intercompany receivables — Deferred charges and other Goodwill — Intangible assets, net — Investments in subsidiaries — Total assets $ $ $ $ $ Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ $ — $ $ — $ Accounts payable — Intercompany accounts payable — — Accrued wages and salaries — Accrued interest — — Other current liabilities Total current liabilities Long-term debt, net of current portion — — Long-term intercompany debt — Deferred income taxes Other long-term liabilities — Total liabilities Shareholder's equity: Other equity Accumulated (deficit) earnings Accumulated other comprehensive (loss) income Total shareholder's equity Non-controlling interest Total equity Total liabilities and shareholder's equity $ $ $ $ $ Statement of Financial Position Guarantor Nonguarantor As of September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ $ $ $ — $ Trade receivables, net — Intercompany receivables — Other receivables — Inventories Prepaid expenses and other Total current assets Property, plant and equipment, net — Long-term intercompany receivables — Goodwill — Intangible assets, net — Deferred charges and other — Investments in subsidiaries — Total assets $ $ $ $ $ Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ $ $ $ — $ Accounts payable — Intercompany accounts payable — Accrued wages and salaries — Accrued interest — — Other current liabilities — Total current liabilities Long-term debt, net of current portion — Long-term intercompany debt — Deferred income taxes — Other long-term liabilities — Total liabilities Shareholder's equity: Other equity Accumulated (deficit) earnings Accumulated other comprehensive (loss) income Total shareholder's equity Non-controlling interest Total equity Total liabilities and shareholders' equity $ $ $ $ $ Statement of Operations Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — — Gross profit Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ Statement of Operations Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — Gross profit — Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ Statement of Operations Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — Gross profit Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — Proceeds from sales of property, plant and equipment — — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — — Payment of debt — — Payment of debt issuance costs — — — Payment of cash dividends to parent — — — Capital contribution from parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash provided (used) by financing activities Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation — — — Effect of exchange rate changes on cash and cash equivalents — — — Net increase (decrease) in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided (used) by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — — Proceeds from sales of property, plant and equipment — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — Payment of debt — — Payment of debt issuance costs — — Payment of cash dividends to parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash (used) provided by financing activities Effect of exchange rate changes on cash and cash equivalents — — — Net increase (decrease) in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — Proceeds from sales of property, plant and equipment — — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — Payment of debt — — Payment of debt issuance costs — — Payment of cash dividends to parent — — — Capital contribution from parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash provided (used) by financing activities Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation — — — Effect of exchange rate changes on cash and cash equivalents — — — Net (decrease) increase in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ |
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) | 12 Months Ended |
Sep. 30, 2015 | |
Quarterly Results (Unaudited) [Abstract] | |
Quarterly Results (Unaudited) | NOTE 21 -QUARTERLY RESULTS (UNAUDITED) Spectrum Brands Holdings, Inc. Quarter Ended 2015 (in millions, except per share) September 30, 2015 June 28, 2015 March 29, 2015 December 28, 2014 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ Spectrum Brands Holdings, Inc. Quarter Ended 2014 (in millions, except per share) September 30, 2014 June 29, 2014 March 30, 2014 December 29, 2013 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ SB/RH Holdings, LLC Quarter Ended 2015 (in millions) September 30, 2015 June 28, 2015 March 29, 2015 December 28, 2014 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest SB/RH Holdings, LLC Quarter Ended 2014 (in millions) September 30, 2014 June 29, 2014 March 30, 2014 December 29, 2013 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest |
Significant Accounting Polici30
Significant Accounting Policies And Practices (Policies) | 12 Months Ended |
Sep. 30, 2015 | |
Significant Accounting Policies And Practices [Abstract] | |
Principles Of Consolidation And Fiscal Year End | Principles of Consolidation and Fiscal Year End The consolidated financial statements include the financial statements of the Company and its maj ority owned subsidiaries and have been prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). All intercompany transactions have been eliminated. The Company’s fiscal year ends on September 30. Throughout the year, the Company reports its results using fiscal quarters whereby each three month quarterly reporting period is approximately thirteen weeks in length and ends on a Sunday. The exceptions are the first quarter, which begins on October 1, and the fourth quarter, which ends on September 30. For the year ended September 30, 2015, the fiscal quarters were comprised of the three months ended December 28, 2014, and March 29, June 28 and September 30, 2015. |
Use Of Estimates | 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 And Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid temporary instruments purchased with original maturities of three months or less from date of purchase to be cash equivalents. |
Receivables | Receivables 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 or return for a given customer. The a llowance for uncollectible receivables as of September 30, 2015 and 2014 was $44.0 million and $48.6 million, respectively. The following is a rollforward of the allowance for the years ended September 30, 2015, 2014 and 2013: Beginning Charged to Other Ending (in millions) Balance Profit & Loss Deductions Adjustments Balance September 30, 2015 $ $ $ $ $ September 30, 2014 $ $ $ $ $ September 30, 2013 $ $ $ - $ - $ 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 15% , 16% and 18% of the Company’s Net Sales during years ended September 30, 2015 , 2014 and 2013 , respectively. This major customer also represented 16% and 14% of the Company’s Trade Receivables as of September 30, 2015 and 2014, respectively. |
Inventories | 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. See Note 6, “Inventory” for further detail. |
Property, Plant And Equipment | Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. 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 uses accelerated depreciation methods for income tax purposes. Useful lives for property, plant and equipment are as follows: Asset Type Range Buildings and improvements 20 - 40 years Machinery and equipment 2 - 15 years Expenditures which substantially increase value or extend useful lives are capitalized. Expenditures for maintenance and repairs are charged to operations as incurred. The Company records gains and losses on the disposition or retirement of property, plant and equipment based on the net book value and any proceeds received. Long-lived fixed assets held and used are reviewed for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. 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. If such indicators are present, the Company performs undiscounted cash flow analyses to determine if impairment exists. The asset value would be deemed impaired if the un discounted cash flows generated did not exceed the carrying value of the asset. If impairment is determined to exist, any related impairment loss is calculated based on fair value. There were no triggering events identified during the year that necessitated an impairment test over property, plant and equipment. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. See Note 7, “Property, plant and equipment” for further detail. |
Goodwill | Goodwill Goodwill reflects the excess of acquisition cost over the aggregate fair value assigned to identifiable net assets acquired. Goodwill is not amortized, but instead is assessed for impairment at least annually and as triggering events or indicators of potential impairment are identified . Goodwill has been assigned to reporting units for purposes of impairment testing based upon the relative fair value of the asset to each reporting unit ; our reporting units are consistent with our segments (See Note 18, “Segment Information” for further discussion). The Company performs its annual impairment test in the fourth quarter of its fiscal year. Impairment of goodwill is evaluated using a two-step approach. In the first step, the fair value of each reporting unit is compared to its carrying value, including goodwill. In estimating the fair value of our reporting units, we use a discounted cash flow methodology, which requires us to estimate future revenues , expenses, and capital expenditures and make assumptions about our weighted average cost of capital and perpetuity growth rate, among other variables. We test the aggregate estimated fair value of our reporting units by comparison to our total market capitalization, including both equity and debt capital . If the fair value of a reporting unit is less than its carrying value, step two is performed . For step two, the implied fair value of goodwill is calculated by deducting the fair value of all tangible and intangible net assets, including unrecognized intangible assets, of the reporting unit from the fair value of the reporting unit. If the implied fair va lue of goodwill is less than its carrying value, an impairment loss would be recognized equal to that excess . The fair value s of the Global Batteries & Appliances, Hardware and Home Improvement, Global Pet Supplies and Home & Garden reporting units exceeded the ir carrying value s by 54% , 38% , 29% and 66% , respectively. As a result, a step two analysis was not required and there were no reporting units that were deemed at risk of impairment. As a result of the AAG acquisition in the third quarter of the year ended September 30, 2015 , a new reporting unit and segment was established, Global Auto Care. Due to the recent closing of the acquisition and the measurement of the net assets acquired at fair value in acquisition accounting , a qualitative assessment of the carrying value of goodwill was performed for this reporting unit. This included evaluation of factors such as macroeconomic conditions, industry and market conditions, cost factors, overall financial performance and reporting unit factors, among others. Based on its qualitative assessment, management concluded that it is not more likely than not that the fair value of this reporting unit is less than its carrying amount, and a quantitative impairment test of the acquired goodwill for Global Auto Care was not deemed necessary. See Note 8 “Goodwill and Intangible Assets” for further detail. |
Intangible Assets | Intangible Assets Intangible assets are recorded at cost or at estimated fair value if acquired in a business combination. Customer lists, proprietary technology and certain trade name intangibles are amortized, using the straight-line method, over their estimated useful lives. The range and weighted average useful lives for definite-lived intangibles assets are as follows: Asset Type Range Weighted Average Customer relationships 2 - 20 years 18.5 years Technology assets 4 - 18 years 11.1 years Tradenames 8 - 17 years 16.2 years Definite -lived intangible assets held and used are reviewed for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be recoverable. If indicators of potential impairment are identified, the Company performs undiscounted cash flow analysis to determine if impairment exists. The asset value would be deemed impaired if the un discounted cash flows expected to be generated by the asset did not exceed its carrying value. If impairment is determined to exist, any related impairment loss is calculated based on fair value. There were no triggering events identified during the years ended September 30, 2015, 2014 and 2013 that necessitated an impairment test over definite-lived intangible assets. Certain trade name intangible assets have an indefinite life and are not amortized; but instead are assessed for impairment at least annually and as triggering events or indicators of potential impairment are identified . The Company performs its annual impairment test in the fourth quarter of its fiscal year. Impairment of indefinite lived intangible assets is assessed by comparing the estimated fair value of the identified trade names to the ir carrying value to determine if potential impairment exists. If the fair value is less than the carrying value, an impairment loss is recorded for the excess . The fair value of indefinite-lived intangible assets is determined using an income approach, the relief from royalty methodology, which requires us to make estimates and assumptions about future revenues , royalty rates, and the discount rate , among others . The fair value of our indefinite life tradenames exceeded their carrying values as of the date of our latest annual impairment testing and there was no impairment of our indefinite lived intangible assets for the years ended September 30, 2015, 2014 and 2013. See Note 8 “Goodwill and Intangible Assets” for further detail. |
Debt Issuance Costs | 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. Debt issuance costs were $65.1 million and $51.1 million as of September 30, 2015 and 2014, respectively, and are included in Deferred Charges and Other Assets in the Consolidated Statements of Fina ncial Position. Amortization of debt issuance costs is recognized as Interest Expense in the Consolidated Statements of Operations. |
Financial Instruments | 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 or speculative purposes. Derivative assets and liabilities 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. Depending on the nature of derivatives designated as hedging instruments, changes in fair value are either offset against the change in fair value of the hedged assets or liability through earnings or recognized in shareholders’ equity through other comprehensive income until the hedged item is recognized. Any ineffective portion of a financial instrument’s change in fair value is recognized in earnings. For derivatives that do not qualify for hedge accounting treatment, the change in the fair value is recognized in earnings. See Note 11, “Derivatives” for further detail. |
Treasury Stock | Treasury Stock Treasury stock purchases are stated at cost and presented as a separate reduction of shareholders’ equity. |
Revenue Recognition | 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 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 promotional arrangements, primarily with retail customers, that entitle such retailers to earn cash rebates from the Company . These arrangements require the Company to estimate and accrue the costs of the se programs , which are treated as a reduction of Net Sales. The Company 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 Company monitors its commitments under all promotion arrangements and uses various measures, including past experience, to estimate the earned, but unpaid, promotional costs. The terms of the Company’s customer-related promotional arrangements and programs are tailored to each customer and 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. Capitalized slotting payments are reported in the Consolidated Statements of Financial Position as Deferred Charges and Other Asset s and related amortization is treated as a reduction in Net Sales. |
Shipping And Handling Costs | Shipping and Handling Costs Shipping and handling costs 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. Shipping and handling costs was $272.9 million, $260.3 million and $246.1 million during the years ended September 30, 2015 , 2014 and 2013 , respectively. Shipping and handling costs are included in Selling Expenses in the Consolidated Statements of Operations |
Advertising Costs | Advertising Costs Advertising costs 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 and are expensed as incurred. The Company incurred advertising costs of $35.0 million, $21.4 million and $23.0 million during the years ended September 30, 2015 , 2014 and 2013 , respectively. Advertising costs are included in Selling Expenses in the Company’s Consolidated Statements of Operations. |
Research And Development Costs | Research and Development Costs Research and development costs are charged to expense in the period they are incurred. |
Environmental Expenditures | 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. |
Restructuring And Related Charges | Restructuring and Related Charges Restructuring charges include, but are not limited to, the costs 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 relocation activities, including impairment of property and other assets, departmental costs of full-time incremental employees, and any other items related to the exit or relocation activities. Costs for such activities are estimated by management after evaluating detailed analyses of the costs to be incurred. 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, 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. Restructuring and related charges associated with manufactu ring and related initiatives are recorded in C ost of G oods S old. Restructuring an d related charges reflected in C ost of G oods S old 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 manufacturing component of the restructuring initiative . Restructuring and related charges associated with administrative functions are recorded 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 administrative components of the restructuring initiatives implemented. See Note 4, “Restructuring and Related Charges” for further detail. |
Acquisition And Integration Related Charges | Acquisition and Integration Related Charges Acquisition and integration related charges 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 integration activity. See Note 3, “Acquisitions” for further detail. |
Income Taxes | 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. See Note 13, “Income Taxes” for further detail. |
Foreign Currency Translation | 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 investment nature. See Note 16, “Accumulated Other Comprehensive Income” for further detail. 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 Other Non-Operating Expense, Net in the Consolidated Statements of Operations in the period they occur. Exchange losses on foreign currency transactions were $9.6 million, $6.8 million, and $9.4 million for the years ended September 30, 2015 , 2014 and 2013 , respectively. |
Significant Accounting Polici31
Significant Accounting Policies And Practices (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Significant Accounting Policies And Practices [Abstract] | |
Schedule Of Trade Accounts Receivable Allowance | Beginning Charged to Other Ending (in millions) Balance Profit & Loss Deductions Adjustments Balance September 30, 2015 $ $ $ $ $ September 30, 2014 $ $ $ $ $ September 30, 2013 $ $ $ - $ - $ |
Useful Lives For Property, Plant And Equipment | Asset Type Range Buildings and improvements 20 - 40 years Machinery and equipment 2 - 15 years |
Schedule Of Definite-Lived Intangible Assets | Asset Type Range Weighted Average Customer relationships 2 - 20 years 18.5 years Technology assets 4 - 18 years 11.1 years Tradenames 8 - 17 years 16.2 years |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Business Acquisition [Line Items] | |
Summary Of Acquisition And Integration Related Charges | (in millions) 2015 2014 2013 Armored AutoGroup $ $ — $ — Salix — — HHI Business European IAMS and Eukanuba — — Tell — — Liquid Fence — Other Total acquisition and integration related charges $ $ $ |
Armored AutoGroup [Member] | |
Business Acquisition [Line Items] | |
Summary Of Purchase Price And Purchase Price Allocation | (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Deferred charges and other Accounts payable and accrued liabilities Long-term debt Other long term liabilities Net assets acquired $ |
Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives | (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 10 Licensing agreements 10 Customer relationships 15 Total intangibles acquired $ |
Summary Of Pro Forma Results | 2015 2014 (in millions) (Unaudited) (Unaudited) Pro forma net sales $ $ Pro forma net income $ $ |
Salix Animal Health LLC [Member] | |
Business Acquisition [Line Items] | |
Summary Of Purchase Price And Purchase Price Allocation | (in millions) Purchase Price Cash consideration $ Contingent consideration Total purchase price $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Other long term liabilities Net assets acquired $ |
Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives | (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Definite-lived tradenames 13 Technology 17 Customer relationships 13 Total intangibles acquired $ |
European IAMS And Eukanuba [Member] | |
Business Acquisition [Line Items] | |
Summary Of Purchase Price And Purchase Price Allocation | (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Inventories $ Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Other long term liabilities Net assets acquired $ |
Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives | (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 8 Customer relationships 15 Total intangibles acquired $ |
Tell Manufacturing, Inc. [Member] | |
Business Acquisition [Line Items] | |
Summary Of Purchase Price And Purchase Price Allocation | (in millions) Purchase Price Cash consideration $ (in millions) Purchase Price Allocation Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Net assets acquired $ |
Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives | (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Customer relationships 13 Total intangibles acquired $ |
Liquid Fence [Member] | |
Business Acquisition [Line Items] | |
Summary Of Purchase Price And Purchase Price Allocation | (in millions) Purchase Price Cash consideration $ Promissory note Contingent consideration Total purchase price $ (in millions) Purchase Price Allocation Cash $ Accounts receivable Inventories Property, plant and equipment, net Goodwill Intangible assets Accounts payable and accrued liabilities Total assets acquired $ |
Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives | (in millions) Carrying Amount Weighted Average Useful Life (Years) Tradenames $ Indefinite Technology 17 Customer relationships 15 Total intangibles acquired $ |
Restructuring And Related Cha33
Restructuring And Related Charges (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Restructuring and Related Cost [Abstract] | |
Summary Of Restructuring And Related Charges | (in millions) 2015 2014 2013 HHI business rationalization initiatives $ $ $ — Global expense rationalization initiatives Global cost reduction initiatives Other restructuring activities Total restructuring and related charges $ $ $ Reported as: Cost of goods sold $ $ $ Operating expense |
HHI Business Rationalization Initiatives [Member] | |
Restructuring and Related Cost [Abstract] | |
Summary Of Costs Incurred By Cost Type | Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ — $ $ Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 — Cumulative costs through September 30, 2015 |
Rollforward Of Restructuring Accrual | Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ — $ — $ — Provisions — Cash expenditures — — — Accrual balance at September 30, 2014 — Provisions (adjustments) Cash expenditures — Non-cash items — Accrual balance at September 30, 2015 $ $ $ |
Global Expense Rationalization Initiatives [Member] | |
Restructuring and Related Cost [Abstract] | |
Summary Of Costs Incurred By Cost Type | Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ $ — $ For the year ended September 30, 2014 — For the year ended September 30, 2013 — — — Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 For the year ended September 30, 2013 Cumulative costs through September 30, 2015 |
Summary Of Costs Incurred By Reporting Segment | Global Batteries & Global Pet (in millions) Appliances Supplies Corporate Total Restructuring and related charges: For the year ended September 30, 2015 $ $ $ $ For the year ended September 30, 2014 For the year ended September 30, 2013 — Cumulative costs through September 30, 2015 Future costs to be incurred — |
Rollforward Of Restructuring Accrual | Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ $ - $ Provisions Cash expenditures - Non-cash items Accrual balance at September 30, 2014 Provisions Cash expenditures Non-cash items — Accrual balance at September 30, 2015 $ $ $ |
Global Cost Reduction Initiatives [Member] | |
Restructuring and Related Cost [Abstract] | |
Summary Of Costs Incurred By Cost Type | Termination Other (in millions) Benefits Costs Total Cost of Goods Sold: For the year ended September 30, 2015 $ — $ $ For the year ended September 30, 2014 — For the year ended September 30, 2013 Operating Expenses: For the year ended September 30, 2015 For the year ended September 30, 2014 For the year ended September 30, 2013 Cumulative costs through September 30, 2015 |
Summary Of Costs Incurred By Reporting Segment | Global Batteries & Global Pet Home and (in millions) Appliances Supplies Garden Corporate Total Restructuring and related charges: For the year ended September 30, 2015 $ $ — $ — $ For the year ended September 30, 2014 — — For the year ended September 30, 2013 — Cumulative costs as of September 30, 2015 |
Rollforward Of Restructuring Accrual | Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2013 $ $ $ Provisions - Cash expenditures Non-cash items Accrual balance at September 30, 2014 Provisions — Cash expenditures Non-cash items Accrual balance at September 30, 2015 $ $ $ |
Fair Value Of Financial Instr34
Fair Value Of Financial Instruments (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Derivatives [Abstract] | |
Fair Values Of Derivative Instruments | 2015 2014 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Derivative Assets $ $ $ $ Derivative Liabilities $ $ $ $ |
Carrying Values And Estimated Fair Values For Debt | 2015 2014 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Total debt - Spectrum Brands Holdings, Inc. $ $ $ $ T otal debt - SB/RH Holdings, LLC $ $ $ $ |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Inventory [Abstract] | |
Schedule Of Inventories | (in millions) 2015 2014 Raw materials $ $ Work-in-process Finished goods $ $ |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Property, Plant And Equipment [Abstract] | |
Schedule Of Property, Plant And Equipment | (in millions) 2015 2014 Land, buildings and improvements $ $ Machinery, equipment and other Capitalized leases Construction in progress Property, plant and equipment $ $ Accumulated depreciation Property, plant and equipment, net $ $ |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Goodwill And Intangible Assets [Abstract] | |
Changes In The Carrying Amount Of Goodwill By Reporting Segment | Global Hardware & Batteries & Home Global Pet Home and Global (in millions) Appliances Improvement Supplies Garden Auto Care Total Balance, as of September 30, 2013 $ $ $ $ $ — $ Liquid Fence acquisition — — — — Adjustments — — — — Foreign currency impact — — Balance, as of September 30, 2014 — AAG acquisition — — — European IAMS and Eukanuba acquisition — — — — Salix acquisition — — — — Tell Manufacturing acquisition — — — — Foreign currency impact — Balance, as of September 30, 2015 $ $ $ $ $ $ |
Schedule Of Definite-Lived Intangible Assets | 2015 2014 (in millions) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ $ $ $ $ $ Technology assets Tradenames Total $ $ $ $ $ $ |
Schedule Of Future Amortization Expense | (in millions) Amortization 2016 $ 2017 2018 2019 2020 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Debt [Abstract] | |
Schedule Of Debt | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC 2015 2014 2015 2014 (in millions) Amount Rate Amount Rate Amount Rate Amount Rate Term loan, variable rate, due June 23, 2022 $ % $ — — % $ % $ — — % Term loan, variable rate, due September 4, 2017 (Tranche A) — — % % — — % % Term loan, variable rate, due September 4, 2019 (Tranche C) — — % % — — % % CAD Term Loan, variable rate, due June 23, 2022 % — — % % — — % CAD Term Loan, variable rate, due December 17, 2019 — — % % — — % % Euro Term Loan, variable rate, due June 23, 2022 % — — % % — — % Euro Term Loan, variable rate, due September 4, 2019 — — % % — — % % 5.75% Notes, due July 15, 2025 % — — % % — — % 6.125% Notes, due December 15, 2024 % — — % % — — % 6.375% Notes, due November 15, 2020 % % % % 6.625% Notes, due November 15, 2022 % % % % 6.75% Notes, due March 15, 2020 — — % % — — % % Revolver Facility, variable rate, expiring June 23, 2020 — — % — — % — — % — — % Other notes and obligations % % % % Obligations under capital leases % % % % Total debt Unamortized discount on debt Less current portion Long-term debt, net of current portion $ $ $ $ |
Aggregate Scheduled Maturities Of Debt And Capital Lease Obligations | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) Capital Lease Obligations Debt Total Capital Lease Obligations Debt Total 2016 $ $ $ $ $ $ 2017 2018 2019 2020 Thereafter Long-term debt $ $ $ $ $ $ |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Leases [Abstract] | |
Schedule Of Future Minimum Rental Commitments Under Non-Cancelable Operating Leases | (in millions) Amount 2016 $ 2017 2018 2019 2020 Thereafter Total minimum lease payments $ |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Interest Rate Swap Derivative Financial Instruments | 2015 2014 (in millions) Notional Amount Remaining Years Notional Amount Remaining Years Interest rate swaps - fixed $ $ |
Commodity Swap Contracts Outstanding | 2015 2014 (in millions, except notional) Notional Contract Value Notional Contract Value Zinc swap contracts 10.8 Tons $ 8.0 Tons $ Brass swap contracts 1.8 Ton $ 0.6 Ton $ |
Fair Value Of Outstanding Derivative Instruments | (in millions) Line Item 2015 2014 Derivative Assets Interest rate swaps - designated as hedge Deferred charges and other $ — $ Commodity swaps - designated as hedge Receivables—Other — Foreign exchange contracts - designated as hedge Receivables—Other Foreign exchange contracts - designated as hedge Deferred charges and other Foreign exchange contracts - not designated as hedge Receivables—Other Total Derivative Assets $ $ Derivative Liabilities Interest rate swaps - designated as hedge Other current liabilities $ $ Interest rate swaps - designated as hedge Accrued interest Interest rate swaps - designated as hedge Other long-term liabilities — Commodity swaps - designated as hedge Accounts payable Commodity swaps - designated as hedge Other long-term liabilities — Commodity swaps - not designated as hedge Accounts payable Foreign exchange contracts - designated as hedge Accounts payable — Foreign exchange contracts - not designated as hedge Accounts payable Total Derivative Liabilities $ $ |
Impact Of Effective And Ineffective Portions Of Cash Flow Hedges And Gain (Loss) Realized | Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2015 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ Interest expense $ Interest expense $ — Commodity swaps Cost of goods sold Cost of goods sold — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2014 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ Interest expense $ Interest expense $ — Commodity swaps Cost of goods sold Cost of goods sold — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — Effective Portion Gain (Loss) Reclassified to Earnings Ineffective portion For the year ended September 30, 2013 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Commodity swaps $ Cost of goods sold $ Cost of goods sold $ — Foreign exchange contracts Net sales Net sales — Foreign exchange contracts Cost of goods sold Cost of goods sold — Total $ $ $ — |
Gain (Loss) Associated With Derivative Contracts Not Designated As Hedges | (in millions) Line Item 2015 2014 2013 Commodity swaps Cost of goods sold $ $ $ Foreign exchange contracts Other expense, net $ $ Total $ $ $ |
Fair Value Hedging [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Commodity Swap Contracts Outstanding | 2015 2014 (in millions, except notional) Notional Contract Value Notional Contract Value Silver 25.0 troy oz. $ 25.0 troy oz. $ |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Employee Benefit Plans [Abstract] | |
Additional Information On Pension Plans | U.S. Plans Non U.S. Plans (in millions) 2015 2014 2015 2014 Changes in benefit obligation: Benefit obligation, beginning of year $ $ $ $ Obligations assumed from acquisitions — — — Transfer of obligation — — — Service cost Interest cost Actuarial (gain) loss Curtailments — — — Participant contributions — — — Benefits paid Foreign currency exchange rate changes — — Benefit obligation, end of year $ $ $ $ Changes in plan assets: Fair value of plan assets, beginning of year $ $ $ $ Actual return on plan assets Employer contributions Employee contributions — — — Benefits paid Foreign currency exchange rate changes — — Fair value of plan assets, end of year $ $ $ $ Funded Status $ $ $ $ Amounts recognized in statement of financial position Deferred charges and other $ — $ — $ — $ Other accrued expenses Other long-term liabilities Accumulated other comprehensive income (loss) Weighted average assumptions Discount rate 4.25% 4.15% 1.75 - 13.81% 2.00 - 13.50% Expected return on plan assets 7.25% 7.50% 3.50 - 5.26% 2.00 - 5.26% Rate of compensation increase N/A N/A 2.25 - 5.50% 2.25 - 5.50% |
Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) Associated With Employee Benefit Plan Costs | (in millions) 2015 2014 2013 Cost of goods sold $ $ $ Selling expenses General and administrative expenses Amounts reclassified from accumulated other comprehensive loss $ $ $ |
Components Of Net Periodic Benefit Cost | U.S Plans Non U.S. Plans (in millions) 2015 2014 2013 2015 2014 2013 Service cost $ $ $ $ $ $ Interest cost Expected return on assets Curtailment — — — Recognized net actuarial loss Net periodic benefit cost $ $ $ $ $ $ Weighted average assumptions Discount rate 4.15% 4.65% 3.75% 2.00 - 13.50% 2.25 - 12.50% 1.75 - 13.00% Expected return on plan assets 7.50% 7.75% 7.75% 2.00 - 5.26% 4.00 - 5.76% 3.60 - 5.00% Rate of compensation increase N/A N/A N/A 2.25 - 5.50% 2.25 - 5.50% 2.25 - 5.50% |
Summary Of Allocation Of Pension Plan Assets | US Plans Non U.S. Plans Asset Type 2015 2014 2015 2014 Equity Securities % % % % Fixed Income Securities % % % % Other % % % % Total % % % % |
Fair Value Of Pension Plan Assets By Asset Category | As of September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total Equity Securities U.S. equity securities $ $ $ — $ Foreign equity securities — Debt Securities U.S. bonds — Foreign bonds — Foreign government bonds — — Real estate — Life insurance contracts — — Other — — Foreign cash & cash equivalents — — Total plan assets $ $ $ — $ As of September 30, 2014 (in millions) Level 1 Level 2 Level 3 Total Equity Securities U.S. equity securities $ $ $ — $ Foreign equity securities — Debt Securities U.S. bonds — Foreign bonds — Foreign government bonds — — Real estate — Life insurance contracts — — Other — — Foreign cash & cash equivalents — Total plan assets $ $ $ — $ |
Schedule Of Benefit Payments Expected To Be Paid | (in millions) US Plans Non U.S. Plans 2016 $ $ 2017 2018 2019 2020 2021-2025 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Income Taxes [Abstract] | |
Schedule Of Income Tax Expense | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 United States $ $ $ $ $ $ Outside the United States Income (loss) from operations before income taxes $ $ $ $ $ $ |
Schedule Of Components Of Income Tax Expense | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 Current tax expense: U.S. Federal $ $ $ — $ $ $ — Foreign State and local Total current tax expense Deferred tax expense: U.S. Federal Foreign State and local Total deferred tax expense Income tax expense $ $ $ $ $ $ |
Schedule Of Reconciliation Of Income Tax Expense | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2013 2015 2014 2013 U.S. Statutory federal income tax expense (benefit) $ $ $ $ $ $ Permanent items Foreign statutory rate vs. U.S. statutory rate State income taxes, net of federal effect Residual tax on foreign earnings Investment in foreign subsidiary — — — — Purchase accounting benefit — — Change in valuation allowance Unrecognized tax expense Foreign tax law changes — — — — Nondeductible share based compensation Adjustment to prior year NOLs — — — — Return to provision adjustments and other, net Income tax expense $ $ $ $ $ $ |
Schedule Of Deferred Tax Assets and Deferred Tax Liabilities | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC (in millions) 2015 2014 2015 2014 Deferred tax assets Employee benefits $ $ $ $ Restructuring Inventories and receivables Marketing and promotional accruals Prepaid royalty Property, plant and equipment Unrealized losses Intangibles Investment in non-US subsidiaries — — Net operating loss and credit carry forwards Other Total deferred tax assets Deferred tax liabilities Property, plant and equipment Unrealized gains Intangibles Taxes on unremitted foreign earnings Other Total deferred tax liabilities Net deferred tax liabilities Valuation allowance Net deferred tax liabilities, net valuation allowance $ $ $ $ Reported as: Prepaid expenses and other $ $ $ $ Deferred charges and other Other current liabilities Deferred taxes (noncurrent liability) |
Schedule Of Unrecognized Tax Benefits | (in millions) 2015 2014 2013 Unrecognized tax benefits, beginning of year $ $ $ Gross increase – tax positions in prior period Gross decrease – tax positions in prior period Gross increase – tax positions in current period Settlements Lapse of statutes of limitations Unrecognized tax benefits, end of year $ $ $ |
Share Based Compensation (Table
Share Based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Share Based Compensation [Abstract] | |
Summary Of RSU Activity | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Weighted Weighted Average Average Grant Date Fair Value Grant Date Fair Value (in millions, except per share data) Shares Fair Value at Grant Date Shares Fair Value at Grant Date Non-vested restricted stock units at September 30, 2012 $ $ $ $ Granted Forfeited Vested Non-vested restricted stock units at September 30, 2013 $ $ Granted Forfeited — — Vested Non-vested restricted stock units at September 30, 2014 $ $ Granted Forfeited Vested Non-vested restricted stock units at September 30, 2015 $ $ |
Accumulated Other Comprehensi44
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Foreign Employee Currency Derivative Benefit (in millions) Translation Hedging Plans Total Year Ended September 30, 2013 Accumulated other comprehensive (loss) income, as of September 30, 2012 $ $ $ $ Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive (loss) income — Other comprehensive (loss) income Deferred tax effect — Deferred tax valuation allowance — Other comprehensive (loss) income, net of tax Other comprehensive (loss) income attributable to non-controlling interest — — Other comprehensive (loss) income attributable to controlling interest Accumulated other comprehensive (loss) income, as of September 30, 2013 Year Ended September 30, 2014 Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive income (loss) — Other comprehensive (loss) income, year ended September 30, 2014 Deferred tax effect — Deferred tax valuation allowance — — Other comprehensive (loss) income, net of tax Other comprehensive income (loss) attributable to non-controlling interest — — Other comprehensive income (loss) attributable to controlling interest Accumulated other comprehensive income (loss), September 30, 2014 Year Ended September 30, 2015 Other comprehensive (loss) income before reclassification Amounts reclassified from accumulated other comprehensive income (loss) — Other comprehensive (loss) income, year ended September 30, 2015 Deferred tax effect — Deferred tax valuation allowance — Other comprehensive (loss) income, net of tax Other comprehensive income (loss) attributable to non-controlling interest — — Other comprehensive income (loss) attributable to controlling interest Accumulated other comprehensive income (loss), September 30, 2015 $ $ $ $ |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Segment Information [Abstract] | |
Net Sales Relating To Segments | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Net sales to external customers (in millions) 2015 2014 2013 2015 2014 2013 Consumer batteries $ $ $ $ $ $ Small appliances Personal care Global Batteries & Appliances Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Net sales $ $ $ $ $ $ |
Segment Profit Relating To Segments | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Segment Profit (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Total segment profit Corporate expense Acquisition and integration related charges Restructuring and related charges Interest expense Other non-operating expenses, net Income (loss) from operations before income taxes $ $ $ $ $ $ |
Depreciation And Amortization Relating To Segments | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Depreciation and amortization (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — — — Total segments Corporate — — — — — — Total depreciation and amortization $ $ $ $ $ $ |
Capital Expenditures Relating To Segments | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Capital expenditures (in millions) 2015 2014 2013 2015 2014 2013 Global Batteries & Appliances $ $ $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Business Global Auto Care — — — — Total segment capital expenditures Corporate — — — — — — Total capital expenditures $ $ $ $ $ $ |
Segment Total Assets Relating To Segments | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Segment total assets (in millions) 2015 2014 2015 2014 Global Batteries & Appliances $ $ $ $ Hardware & Home Improvement Global Pet Supplies Home and Garden Global Auto Care — — Total segment assets Corporate Total assets $ $ $ $ |
Net Sales By Geographic Area | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Net sales to external parties - Geographic Disclosure (in millions) 2015 2014 2013 2015 2014 2013 United States $ $ $ $ $ $ Europe /MEA Latin America North America - Other Asia-Pacific Net sales $ $ $ $ $ $ |
Long-Lived Assets By Geographic Area | Spectrum Brands Holdings, Inc. SB/RH Holdings, LLC Long-lived assets - Geographic Disclosure (in millions) 2015 2014 2015 2014 United States $ $ $ $ Europe /MEA Latin America North America - Other Asia-Pacific Total long-lived assets $ $ $ $ |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share - SBH [Abstract] | |
Schedule Of Earnings Per Share | (in millions, except per share amounts) 2015 2014 2013 Numerator Net income (loss) attributable to controlling interest $ $ $ Denominator Weighted average common shares outstanding - basic - Dilutive shares - Weighted average common shares outstanding - diluted Earnings per share Basic earnings per share $ $ $ Diluted earnings per share $ $ $ Weighted average number of anti-dilutive shares excluded from denominator Restricted stock units - |
Guarantor Statements - SB_RH 47
Guarantor Statements - SB/RH Holdings, LLC (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Guarantor Statements - SB/RH [Abstract] | |
Statement Of Financial Position | Statement of Financial Position Guarantor Nonguarantor As of September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ $ $ $ — $ Trade receivables, net — Intercompany receivables — Other receivables — Inventories Prepaid expenses and other Total current assets Property, plant and equipment, net — Long-term intercompany receivables — Deferred charges and other Goodwill — Intangible assets, net — Investments in subsidiaries — Total assets $ $ $ $ $ Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ $ — $ $ — $ Accounts payable — Intercompany accounts payable — — Accrued wages and salaries — Accrued interest — — Other current liabilities Total current liabilities Long-term debt, net of current portion — — Long-term intercompany debt — Deferred income taxes Other long-term liabilities — Total liabilities Shareholder's equity: Other equity Accumulated (deficit) earnings Accumulated other comprehensive (loss) income Total shareholder's equity Non-controlling interest Total equity Total liabilities and shareholder's equity $ $ $ $ $ Statement of Financial Position Guarantor Nonguarantor As of September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ $ $ $ — $ Trade receivables, net — Intercompany receivables — Other receivables — Inventories Prepaid expenses and other Total current assets Property, plant and equipment, net — Long-term intercompany receivables — Goodwill — Intangible assets, net — Deferred charges and other — Investments in subsidiaries — Total assets $ $ $ $ $ Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ $ $ $ — $ Accounts payable — Intercompany accounts payable — Accrued wages and salaries — Accrued interest — — Other current liabilities — Total current liabilities Long-term debt, net of current portion — Long-term intercompany debt — Deferred income taxes — Other long-term liabilities — Total liabilities Shareholder's equity: Other equity Accumulated (deficit) earnings Accumulated other comprehensive (loss) income Total shareholder's equity Non-controlling interest Total equity Total liabilities and shareholders' equity $ $ $ $ $ |
Statement Of Operations | Statement of Operations Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — — Gross profit Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ Statement of Operations Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — Gross profit — Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ Statement of Operations Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ $ $ $ $ Cost of goods sold Restructuring and related charges — — Gross profit Operating expenses: Selling General and administrative — Research and development — Acquisition and integration related charges — Restructuring and related charges — Total operating expense Operating income (loss) Interest expense — Other non-operating (income) expense, net Income from operations before income taxes Income tax expense (benefit) Net income (loss) Net income (loss) attributable to non-controlling interest Net income (loss) attributable to controlling interest $ $ $ $ $ |
Statement Of Comprehensive Income | Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ Statement of Comprehensive Income Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ $ $ $ $ Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) Unrealized gain (loss) on derivative instruments Defined benefit pension gain (loss) Other comprehensive income (loss) Comprehensive income (loss) Comprehensive income (loss) attributable to non-controlling interest Comprehensive income (loss) attributable to controlling interest $ $ $ $ $ |
Statement Of Cash Flows | Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2015 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — Proceeds from sales of property, plant and equipment — — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — — Payment of debt — — Payment of debt issuance costs — — — Payment of cash dividends to parent — — — Capital contribution from parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash provided (used) by financing activities Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation — — — Effect of exchange rate changes on cash and cash equivalents — — — Net increase (decrease) in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2014 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided (used) by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — — Proceeds from sales of property, plant and equipment — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — Payment of debt — — Payment of debt issuance costs — — Payment of cash dividends to parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash (used) provided by financing activities Effect of exchange rate changes on cash and cash equivalents — — — Net increase (decrease) in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ Statement of Cash Flows Guarantor Nonguarantor Year ended September 30, 2013 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ $ $ $ $ Cash flows from investing activities Purchases of property, plant and equipment — Business acquisitions, net of cash acquired — — Proceeds from sales of property, plant and equipment — — Other investing activities — — — Net cash used by investing activities — Cash flows from financing activities Proceeds from issuance of debt — — Payment of debt — — Payment of debt issuance costs — — Payment of cash dividends to parent — — — Capital contribution from parent — — — Share based tax withholding payments, net of proceeds upon vesting — — — Advances related to intercompany transactions — Net cash provided (used) by financing activities Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation — — — Effect of exchange rate changes on cash and cash equivalents — — — Net (decrease) increase in cash and cash equivalents — Cash and cash equivalents, beginning of period — Cash and cash equivalents, end of period $ $ $ $ — $ |
Quarterly Results (Unaudited) (
Quarterly Results (Unaudited) (Tables) | 12 Months Ended |
Sep. 30, 2015 | |
Quarterly Results (Unaudited) [Abstract] | |
Schedule Of Quarterly Results (Unaudited) | Spectrum Brands Holdings, Inc. Quarter Ended 2015 (in millions, except per share) September 30, 2015 June 28, 2015 March 29, 2015 December 28, 2014 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ Spectrum Brands Holdings, Inc. Quarter Ended 2014 (in millions, except per share) September 30, 2014 June 29, 2014 March 30, 2014 December 29, 2013 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ SB/RH Holdings, LLC Quarter Ended 2015 (in millions) September 30, 2015 June 28, 2015 March 29, 2015 December 28, 2014 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest SB/RH Holdings, LLC Quarter Ended 2014 (in millions) September 30, 2014 June 29, 2014 March 30, 2014 December 29, 2013 Net sales $ $ $ $ Gross profit Net income attributable to controlling interest |
Description Of Business (Detail
Description Of Business (Details) | 12 Months Ended |
Sep. 30, 2015segmentcountryitem | |
Description Of Business [Abstract] | |
Number of countries in which Company sells its products | country | 160 |
Number of major product categories | 7 |
Number of reporting segments | segment | 5 |
Significant Accounting Polici50
Significant Accounting Policies And Practices (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015USD ($)customer | Sep. 30, 2014USD ($) | Sep. 30, 2013USD ($) | |
Significant Accounting Policies [Line Items] | |||
Allowance for uncollectible receivables | $ 44 | $ 48.6 | |
Debt issuance costs | 65.1 | 51.1 | |
Shipping and handling costs | 272.9 | 260.3 | $ 246.1 |
Advertising costs | 35 | 21.4 | 23 |
Exchange losses on foreign currency transactions | $ 9.6 | $ 6.8 | $ 9.4 |
Percentage greater than the largest amount of recognized income tax positions which likely of being realized | 50.00% | ||
Major Customer One [Member] | |||
Significant Accounting Policies [Line Items] | |||
Number of major customers accounting for a significant percentage of sales volume | customer | 1 | ||
Major Customer One [Member] | Net Sales [Member] | |||
Significant Accounting Policies [Line Items] | |||
Concentration risk percentage | 15.00% | 16.00% | 18.00% |
Major Customer One [Member] | Trade Accounts Receivable [Member] | |||
Significant Accounting Policies [Line Items] | |||
Concentration risk percentage | 16.00% | 14.00% | |
Tradenames [Member] | |||
Significant Accounting Policies [Line Items] | |||
Impairment of indefininte lived intangible assets | $ 0 | $ 0 | $ 0 |
Global Batteries & Appliances [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of fair value in excess of carrying value | 54.00% | ||
Hardware & Home Improvement [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of fair value in excess of carrying value | 38.00% | ||
Global Pet Supplies [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of fair value in excess of carrying value | 29.00% | ||
Home & Garden [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of fair value in excess of carrying value | 66.00% |
Significant Accounting Polici51
Significant Accounting Policies And Practices (Schedule Of Trade Accounts Receivable Allowance) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Significant Accounting Policies And Practices [Abstract] | |||
Beginning Balance | $ 48.6 | $ 37.4 | $ 21.9 |
Charged to Profit & Loss | 6 | 7.4 | $ 15.5 |
Deductions | (6.3) | (2.4) | |
Other Adjustments | (4.3) | 6.2 | |
Ending Balance | $ 44 | $ 48.6 | $ 37.4 |
Significant Accounting Polici52
Significant Accounting Policies And Practices (Useful Lives For Property, Plant And Equipment) (Details) | 12 Months Ended |
Sep. 30, 2015 | |
Minimum [Member] | Building And Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful lives | 20 years |
Minimum [Member] | Machinery, Equipment And Other [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful lives | 2 years |
Maximum [Member] | Building And Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful lives | 40 years |
Maximum [Member] | Machinery, Equipment And Other [Member] | |
Property, Plant and Equipment [Line Items] | |
Useful lives | 15 years |
Significant Accounting Polici53
Significant Accounting Policies And Practices (Schedule Of Definite-Lived Intangible Assets) (Details) | 12 Months Ended |
Sep. 30, 2015 | |
Customer Relationships [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average | 18 years 6 months |
Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average | 11 years 1 month 6 days |
Tradenames [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average | 16 years 2 months 12 days |
Minimum [Member] | Customer Relationships [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 2 years |
Minimum [Member] | Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 4 years |
Minimum [Member] | Tradenames [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 8 years |
Maximum [Member] | Customer Relationships [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 20 years |
Maximum [Member] | Technology [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 18 years |
Maximum [Member] | Tradenames [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Range | 17 years |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) $ in Millions | May. 21, 2015USD ($) | Jan. 16, 2015USD ($) | Dec. 31, 2014USD ($) | Oct. 01, 2014USD ($) | Jan. 02, 2014USD ($)item | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2013USD ($) |
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 2,476.7 | $ 1,469.6 | $ 1,476.7 | |||||
Global Batteries & Appliances [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | 348.5 | $ 327.4 | $ 333.5 | |||||
Global Auto Care [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 932.6 | |||||||
Armored AutoGroup [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition date | May 21, 2015 | |||||||
Goodwill | $ 972.1 | |||||||
Goodwill deductible for tax purposes | $ 4.9 | |||||||
Non-recurring interest expense related to extinguishment of debt | $ 35.7 | |||||||
Aquisition and integration related charges | 47.3 | |||||||
Non-recurring expense related to fair value adjustment to acqusition date inventory | 18.8 | |||||||
Accelerated share based compensation costs incurred as a result of the acquisition | $ 10.4 | |||||||
Armored AutoGroup [Member] | Customer Relationships [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Customer retention rate | 95.00% | |||||||
Estimated income tax rate | 38.00% | |||||||
Discount rate | 9.50% | |||||||
Armored AutoGroup [Member] | Customer Relationships [Member] | Minimum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 2.00% | |||||||
Armored AutoGroup [Member] | Customer Relationships [Member] | Maximum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 12.10% | |||||||
Armored AutoGroup [Member] | Global Batteries & Appliances [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 38.9 | |||||||
Armored AutoGroup [Member] | Global Auto Care [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 933.2 | |||||||
Salix Animal Health LLC [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition date | Jan. 16, 2015 | |||||||
Goodwill | $ 71.5 | |||||||
Goodwill deductible for tax purposes | $ 24.7 | |||||||
Salix Animal Health LLC [Member] | Customer Relationships [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Customer retention rate | 92.50% | |||||||
Estimated income tax rate | 38.00% | |||||||
Salix Animal Health LLC [Member] | Customer Relationships [Member] | Minimum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 0.00% | |||||||
Discount rate | 12.00% | |||||||
Salix Animal Health LLC [Member] | Customer Relationships [Member] | Maximum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 12.10% | |||||||
Discount rate | 13.00% | |||||||
Salix Animal Health LLC [Member] | Cost Approach [Member] | Property, Plant and Equipment [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Percentage of property, plant and equipment fair value estimate | 98.00% | |||||||
Salix Animal Health LLC [Member] | Sales Comparison Approach [Member] | Property, Plant and Equipment [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Percentage of property, plant and equipment fair value estimate | 2.00% | |||||||
European IAMS And Eukanuba [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition date | Dec. 31, 2014 | |||||||
Goodwill | $ 4 | |||||||
European IAMS And Eukanuba [Member] | Customer Relationships [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Estimated income tax rate | 25.00% | |||||||
Discount rate | 12.50% | |||||||
European IAMS And Eukanuba [Member] | Customer Relationships [Member] | Minimum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 0.00% | |||||||
Customer retention rate | 90.00% | |||||||
European IAMS And Eukanuba [Member] | Customer Relationships [Member] | Maximum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 5.60% | |||||||
Customer retention rate | 100.00% | |||||||
Tell Manufacturing, Inc. [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition date | Oct. 1, 2014 | |||||||
Goodwill | $ 7.1 | |||||||
Tell Manufacturing, Inc. [Member] | Customer Relationships [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Customer retention rate | 90.00% | |||||||
Estimated income tax rate | 38.00% | |||||||
Discount rate | 20.00% | |||||||
Tell Manufacturing, Inc. [Member] | Customer Relationships [Member] | Minimum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 2.50% | |||||||
Tell Manufacturing, Inc. [Member] | Customer Relationships [Member] | Maximum [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Annual expected growth rates | 7.10% | |||||||
Tell Manufacturing, Inc. [Member] | Cost Approach [Member] | Property, Plant and Equipment [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Percentage of property, plant and equipment fair value estimate | 97.00% | |||||||
Tell Manufacturing, Inc. [Member] | Sales Comparison Approach [Member] | Property, Plant and Equipment [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Percentage of property, plant and equipment fair value estimate | 3.00% | |||||||
Liquid Fence [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition date | Jan. 2, 2014 | |||||||
Goodwill | $ 7.1 | |||||||
Number of semi-annual installments | item | 4 | |||||||
Number of months within the installments | 24 months | |||||||
Contingent liability | $ 1.5 |
Acquisitions (Summary Of Purcha
Acquisitions (Summary Of Purchase Price And Purchase Price Allocation) (Details) - USD ($) $ in Millions | May. 21, 2015 | Jan. 16, 2015 | Dec. 31, 2014 | Oct. 01, 2014 | Jan. 02, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 2,476.7 | $ 1,469.6 | $ 1,476.7 | |||||
Armored AutoGroup [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash consideration | $ 929.3 | |||||||
Cash and cash equivalents | 30.9 | |||||||
Receivables | 156.1 | |||||||
Inventories | 84.2 | |||||||
Prepaid expenses and other current assets | 8.2 | |||||||
Property, plant and equipment, net | 38.3 | |||||||
Goodwill | 972.1 | |||||||
Intangible assets | 418 | |||||||
Deferred charges and other | 16.5 | |||||||
Accounts payable and accrued liabilities | (116.1) | |||||||
Long-term debt | (540) | |||||||
Other long term liabilities | (138.9) | |||||||
Net assets acquired | $ 929.3 | |||||||
Salix Animal Health LLC [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash consideration | $ 146.8 | |||||||
Contingent consideration | 1.5 | |||||||
Total purchase price | 148.3 | |||||||
Cash and cash equivalents | 0.5 | |||||||
Receivables | 10.7 | |||||||
Inventories | 17 | |||||||
Prepaid expenses and other current assets | 2.5 | |||||||
Property, plant and equipment, net | 1.2 | |||||||
Goodwill | 71.5 | |||||||
Intangible assets | 55.5 | |||||||
Accounts payable and accrued liabilities | (8.5) | |||||||
Other long term liabilities | (2.1) | |||||||
Net assets acquired | $ 148.3 | |||||||
European IAMS And Eukanuba [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash consideration | $ 115.7 | |||||||
Inventories | 16.3 | |||||||
Prepaid expenses and other current assets | 2.9 | |||||||
Property, plant and equipment, net | 58.3 | |||||||
Goodwill | 4 | |||||||
Intangible assets | 39.6 | |||||||
Accounts payable and accrued liabilities | (2.7) | |||||||
Other long term liabilities | (2.7) | |||||||
Net assets acquired | $ 115.7 | |||||||
Tell Manufacturing, Inc. [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash consideration | $ 30.3 | |||||||
Cash and cash equivalents | 1.1 | |||||||
Receivables | 6 | |||||||
Inventories | 7.2 | |||||||
Prepaid expenses and other current assets | 0.6 | |||||||
Property, plant and equipment, net | 1.5 | |||||||
Goodwill | 7.1 | |||||||
Intangible assets | 12.5 | |||||||
Accounts payable and accrued liabilities | (5.7) | |||||||
Net assets acquired | $ 30.3 | |||||||
Liquid Fence [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Cash consideration | $ 24.8 | |||||||
Promissory note | 9.5 | |||||||
Contingent consideration | 1.5 | |||||||
Total purchase price | 35.8 | |||||||
Cash and cash equivalents | 0.1 | |||||||
Receivables | 1.1 | |||||||
Inventories | 2.1 | |||||||
Property, plant and equipment, net | 0.1 | |||||||
Goodwill | 7.1 | |||||||
Intangible assets | 26.9 | |||||||
Accounts payable and accrued liabilities | (1.6) | |||||||
Net assets acquired | $ 35.8 |
Acquisitions (Summary Of Purc56
Acquisitions (Summary Of Purchase Price Allocated To Intangible Assets And Weighted Average Useful Lives) (Details) - USD ($) $ in Millions | May. 21, 2015 | Jan. 16, 2015 | Dec. 31, 2014 | Oct. 01, 2014 | Jan. 02, 2014 | Sep. 30, 2015 |
Armored AutoGroup [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 418 | |||||
Salix Animal Health LLC [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 55.5 | |||||
European IAMS And Eukanuba [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 39.6 | |||||
Tell Manufacturing, Inc. [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 12.5 | |||||
Liquid Fence [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 26.9 | |||||
Tradenames [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Weighted Average Useful Life (Years) | 16 years 2 months 12 days | |||||
Tradenames [Member] | Salix Animal Health LLC [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 1 | |||||
Weighted Average Useful Life (Years) | 13 years | |||||
Technology [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Weighted Average Useful Life (Years) | 11 years 1 month 6 days | |||||
Technology [Member] | Armored AutoGroup [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 41 | |||||
Weighted Average Useful Life (Years) | 10 years | |||||
Technology [Member] | Salix Animal Health LLC [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 2.1 | |||||
Weighted Average Useful Life (Years) | 17 years | |||||
Technology [Member] | European IAMS And Eukanuba [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 3.6 | |||||
Weighted Average Useful Life (Years) | 8 years | |||||
Technology [Member] | Liquid Fence [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 20.5 | |||||
Weighted Average Useful Life (Years) | 17 years | |||||
Licensing Agreements [Member] | Armored AutoGroup [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 19 | |||||
Weighted Average Useful Life (Years) | 10 years | |||||
Customer Relationships [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Weighted Average Useful Life (Years) | 18 years 6 months | |||||
Customer Relationships [Member] | Armored AutoGroup [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 63 | |||||
Weighted Average Useful Life (Years) | 15 years | |||||
Customer Relationships [Member] | Salix Animal Health LLC [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 35.4 | |||||
Weighted Average Useful Life (Years) | 13 years | |||||
Customer Relationships [Member] | European IAMS And Eukanuba [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 10.5 | |||||
Weighted Average Useful Life (Years) | 15 years | |||||
Customer Relationships [Member] | Tell Manufacturing, Inc. [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 8.5 | |||||
Weighted Average Useful Life (Years) | 13 years | |||||
Customer Relationships [Member] | Liquid Fence [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 1.3 | |||||
Weighted Average Useful Life (Years) | 15 years | |||||
Tradenames [Member] | Armored AutoGroup [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 295 | |||||
Tradenames [Member] | Salix Animal Health LLC [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 17 | |||||
Tradenames [Member] | European IAMS And Eukanuba [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 25.5 | |||||
Tradenames [Member] | Tell Manufacturing, Inc. [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 4 | |||||
Tradenames [Member] | Liquid Fence [Member] | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||||
Carrying Amount | $ 5.1 |
Acquisitions (Summary Of Pro Fo
Acquisitions (Summary Of Pro Forma Results) (Details) - Armored AutoGroup [Member] - AAG Adjustment [Member] - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ||
Pro forma net sales | $ 4,966.2 | $ 4,872.4 |
Pro forma net income | $ 217.3 | $ 235.5 |
Acquisitions (Summary Of Acquis
Acquisitions (Summary Of Acquisition And Integration Related Charges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | $ 58.8 | $ 20.1 | $ 48.4 |
Armored AutoGroup [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 21.8 | ||
Salix Animal Health LLC [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 10.7 | ||
HHI Business Rationalization Initiatives [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 12 | $ 11 | 36.9 |
European IAMS And Eukanuba [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 9.3 | ||
Tell Manufacturing, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 1.9 | ||
Liquid Fence [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | 1.5 | $ 3.5 | |
Other [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition and integration related charges | $ 1.6 | $ 5.6 | $ 11.5 |
Restructuring And Related Cha59
Restructuring And Related Charges (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2013 | |
HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Termination costs | $ (0.6) | ||
Other costs | 10.3 | ||
HHI Business Rationalization Initiatives [Member] | Anticipated To Be Incurred Through September 30, 2016 [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected restructuring and related charges | $ 15 | ||
Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Termination costs | 2.5 | 3 | |
Other costs | 6.3 | 5.4 | |
Global Expense Rationalization Initiatives [Member] | Anticipated To Be Incurred Through September 30 2018 [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected restructuring and related charges | $ 46 | ||
Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Other costs | $ 1.1 | $ 1.1 |
Restructuring And Related Cha60
Restructuring And Related Charges (Summary Of Restructuring And Related Charges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 28.7 | $ 22.9 | $ 34 |
HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 10.3 | 4.5 | |
Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 17.1 | 13.4 | 11.3 |
Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.2 | 1.3 | 16.4 |
Other Restructuring Activities [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.1 | 3.7 | 6.3 |
Cost Of Goods Sold [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 2.1 | 3.7 | $ 10 |
Cost Of Goods Sold [Member] | HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.3 | ||
Cost Of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 1 | |
Cost Of Goods Sold [Member] | Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 0.1 | $ 3.5 |
Operating Expenses [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 26.6 | 19.2 | 24 |
Operating Expenses [Member] | HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 9 | 4.5 | |
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 16.7 | 12.4 | 11.3 |
Operating Expenses [Member] | Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 0.8 | $ 1.2 | $ 12.9 |
Restructuring And Related Cha61
Restructuring And Related Charges (Summary Of Costs Incurred By Cost Type) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 28.7 | $ 22.9 | $ 34 |
HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 10.3 | 4.5 | |
Cumulative restructuring and related charges | 14.8 | ||
HHI Business Rationalization Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 3 | ||
HHI Business Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 11.8 | ||
Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 17.1 | 13.4 | 11.3 |
Cumulative restructuring and related charges | 41.8 | ||
Future restructuring and related charges to be incurred | 3.9 | ||
Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 25.1 | ||
Global Expense Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 16.7 | ||
Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.2 | 1.3 | 16.4 |
Cumulative restructuring and related charges | 101.8 | ||
Global Cost Reduction Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 38.4 | ||
Global Cost Reduction Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 63.4 | ||
Cost Of Goods Sold [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 2.1 | 3.7 | $ 10 |
Cost Of Goods Sold [Member] | HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.3 | ||
Cost Of Goods Sold [Member] | HHI Business Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.3 | ||
Cost Of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 1 | |
Cost Of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 1 | |
Cost Of Goods Sold [Member] | Global Expense Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | |||
Cost Of Goods Sold [Member] | Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 0.1 | $ 3.5 |
Cost Of Goods Sold [Member] | Global Cost Reduction Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.2 | ||
Cost Of Goods Sold [Member] | Global Cost Reduction Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 0.1 | 3.3 |
Operating Expenses [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 26.6 | 19.2 | 24 |
Operating Expenses [Member] | HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 9 | 4.5 | |
Operating Expenses [Member] | HHI Business Rationalization Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | (1.5) | 4.5 | |
Operating Expenses [Member] | HHI Business Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 10.5 | ||
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 16.7 | 12.4 | 11.3 |
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 8 | 5.5 | 10.2 |
Operating Expenses [Member] | Global Expense Rationalization Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 8.7 | 6.9 | 1.1 |
Operating Expenses [Member] | Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.8 | 1.2 | 12.9 |
Operating Expenses [Member] | Global Cost Reduction Initiatives [Member] | Termination Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.1 | 0.2 | 6.4 |
Operating Expenses [Member] | Global Cost Reduction Initiatives [Member] | Other Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 0.7 | $ 1 | $ 6.5 |
Restructuring And Related Cha62
Restructuring And Related Charges (Summary Of Costs Incurred By Reporting Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 28.7 | $ 22.9 | $ 34 |
HHI Business Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 10.3 | 4.5 | |
Cumulative restructuring and related charges | 14.8 | ||
Global Expense Rationalization Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 17.1 | 13.4 | 11.3 |
Cumulative restructuring and related charges | 41.8 | ||
Future restructuring and related charges to be incurred | 3.9 | ||
Global Expense Rationalization Initiatives [Member] | Corporate [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.3 | 0.5 | 1.3 |
Cumulative restructuring and related charges | 2.1 | ||
Global Expense Rationalization Initiatives [Member] | Global Batteries & Appliances [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 8.1 | 11.1 | 10 |
Cumulative restructuring and related charges | 29.2 | ||
Future restructuring and related charges to be incurred | 1.2 | ||
Global Expense Rationalization Initiatives [Member] | Global Pet Supplies [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 8.7 | 1.8 | |
Cumulative restructuring and related charges | 10.5 | ||
Future restructuring and related charges to be incurred | 2.7 | ||
Global Cost Reduction Initiatives [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 1.2 | 1.3 | 16.4 |
Cumulative restructuring and related charges | 101.8 | ||
Global Cost Reduction Initiatives [Member] | Corporate [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Cumulative restructuring and related charges | 7.6 | ||
Global Cost Reduction Initiatives [Member] | Global Batteries & Appliances [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.4 | 0.1 | 4.6 |
Cumulative restructuring and related charges | 25.8 | ||
Global Cost Reduction Initiatives [Member] | Global Pet Supplies [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | 0.8 | $ 1.2 | 11.2 |
Cumulative restructuring and related charges | 50.2 | ||
Global Cost Reduction Initiatives [Member] | Home & Garden [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related charges | $ 0.6 | ||
Cumulative restructuring and related charges | $ 18.2 |
Restructuring And Related Cha63
Restructuring And Related Charges (Rollforward Of Restructuring Accrual) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
HHI Business Rationalization Initiatives [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | $ 4.5 | |
Provisions (adjustments) | 0.6 | $ 4.5 |
Cash expenditures | (1.5) | |
Non-cash items | (0.8) | |
Accrual balance at end | 2.8 | $ 4.5 |
HHI Business Rationalization Initiatives [Member] | Termination Benefits [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 4.5 | |
Provisions (adjustments) | (0.9) | $ 4.5 |
Cash expenditures | (1.5) | |
Non-cash items | (0.8) | |
Accrual balance at end | 1.3 | $ 4.5 |
HHI Business Rationalization Initiatives [Member] | Other Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | ||
Provisions (adjustments) | 1.5 | |
Cash expenditures | ||
Accrual balance at end | 1.5 | |
Global Expense Rationalization Initiatives [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 5.5 | $ 7.3 |
Provisions (adjustments) | 8.3 | 5 |
Cash expenditures | (8.5) | (7) |
Non-cash items | (0.2) | 0.2 |
Accrual balance at end | 5.1 | 5.5 |
Global Expense Rationalization Initiatives [Member] | Termination Benefits [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 4.1 | 7.3 |
Provisions (adjustments) | 5.9 | 3.5 |
Cash expenditures | (7) | (7) |
Non-cash items | (0.2) | 0.3 |
Accrual balance at end | 2.8 | 4.1 |
Global Expense Rationalization Initiatives [Member] | Other Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 1.4 | |
Provisions (adjustments) | 2.4 | 1.5 |
Cash expenditures | (1.5) | |
Non-cash items | (0.1) | |
Accrual balance at end | 2.3 | 1.4 |
Global Cost Reduction Initiatives [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 1.5 | 5.3 |
Provisions (adjustments) | 0.1 | 0.2 |
Cash expenditures | (1.2) | (4.2) |
Non-cash items | (0.1) | 0.2 |
Accrual balance at end | 0.3 | 1.5 |
Global Cost Reduction Initiatives [Member] | Termination Benefits [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 1.3 | 4.9 |
Provisions (adjustments) | 0.1 | 0.2 |
Cash expenditures | (1) | (3.5) |
Non-cash items | (0.2) | (0.3) |
Accrual balance at end | 0.2 | 1.3 |
Global Cost Reduction Initiatives [Member] | Other Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrual balance at beginning | 0.2 | 0.4 |
Cash expenditures | (0.2) | (0.7) |
Non-cash items | 0.1 | 0.5 |
Accrual balance at end | $ 0.1 | $ 0.2 |
Fair Value Of Financial Instr64
Fair Value Of Financial Instruments (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | $ 6 | $ 14.7 |
Derivative Liabilities | 9.8 | 2.1 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 6 | 14.7 |
Derivative Liabilities | $ 9.8 | $ 2.1 |
Fair Value Of Financial Instr65
Fair Value Of Financial Instruments (Carrying Values And Estimated Fair Values For Debt) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Total debt, Carrying Amount | $ 3,971 | $ 2,990.8 |
Total debt, Fair Value | 4,085.8 | 3,061.5 |
SB/RH Holdings, LLC [Member] | ||
Total debt, Carrying Amount | 4,005.7 | 3,006.7 |
Total debt, Fair Value | $ 4,120.5 | $ 3,077.4 |
Inventory (Details)
Inventory (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Inventory [Abstract] | ||
Raw materials | $ 132.4 | $ 104.1 |
Work-in-process | 37.9 | 35.3 |
Finished goods | 610.5 | 485.1 |
Inventories | $ 780.8 | $ 624.5 |
Property, Plant And Equipment67
Property, Plant And Equipment (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 831.9 | $ 693.4 |
Accumulated depreciation | (324.8) | (264.5) |
Property, plant and equipment, net | 507.1 | 428.9 |
Land, Buildings And Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 190.9 | 159.8 |
Machinery, Equipment And Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 491.9 | 402.9 |
Capitalized Leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 97.3 | 98.5 |
Construction In Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 51.8 | $ 32.2 |
Goodwill And Intangible Asset68
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Intangible Assets [Line Items] | |||
Amortization expense | $ 87.8 | $ 81.7 | $ 77.8 |
Tradenames [Member] | |||
Intangible Assets [Line Items] | |||
Indefinite-lived intangible assets | 1,490.3 | 1,174.3 | |
Impairment of indefininte lived intangible assets | $ 0 | $ 0 | $ 0 |
Goodwill And Intangible Asset69
Goodwill And Intangible Assets (Changes In The Carrying Amount Of Goodwill By Reporting Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 1,469.6 | $ 1,476.7 |
Adjustments | 3.5 | |
Foreign currency impact | (47.6) | (17.7) |
Goodwill, Ending Balance | 2,476.7 | 1,469.6 |
Global Batteries & Appliances [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 327.4 | 333.5 |
Foreign currency impact | (17.8) | (6.1) |
Goodwill, Ending Balance | 348.5 | 327.4 |
Hardware & Home Improvement [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 709.8 | 714.7 |
Adjustments | 3.5 | |
Foreign currency impact | (17.4) | (8.4) |
Goodwill, Ending Balance | 699.5 | 709.8 |
Global Pet Supplies [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 235.9 | 239.1 |
Foreign currency impact | (11.8) | (3.2) |
Goodwill, Ending Balance | 299.6 | 235.9 |
Home & Garden [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 196.5 | $ 189.4 |
Foreign currency impact | ||
Goodwill, Ending Balance | $ 196.5 | $ 196.5 |
Global Auto Care [Member] | ||
Goodwill [Line Items] | ||
Foreign currency impact | (0.6) | |
Goodwill, Ending Balance | 932.6 | |
Liquid Fence [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 7.1 | |
Liquid Fence [Member] | Home & Garden [Member] | ||
Goodwill [Line Items] | ||
Acquisition | $ 7.1 | |
Armored AutoGroup [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 972.1 | |
Armored AutoGroup [Member] | Global Batteries & Appliances [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 38.9 | |
Armored AutoGroup [Member] | Global Auto Care [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 933.2 | |
European IAMS And Eukanuba [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 4 | |
European IAMS And Eukanuba [Member] | Global Pet Supplies [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 4 | |
Salix Animal Health LLC [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 71.5 | |
Salix Animal Health LLC [Member] | Global Pet Supplies [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 71.5 | |
Tell Manufacturing, Inc. [Member] | ||
Goodwill [Line Items] | ||
Acquisition | 7.1 | |
Tell Manufacturing, Inc. [Member] | Hardware & Home Improvement [Member] | ||
Goodwill [Line Items] | ||
Acquisition | $ 7.1 |
Goodwill And Intangible Asset70
Goodwill And Intangible Assets (Schedule Of Definite-Lived Intangible Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 1,389.2 | $ 1,240.4 |
Accumulated Amortization | (399.2) | (323.2) |
Net | 990 | 917.2 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 985.2 | 877.2 |
Accumulated Amortization | (247.4) | (204.6) |
Net | 737.8 | 672.6 |
Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 238.6 | 192.2 |
Accumulated Amortization | (78.1) | (57.6) |
Net | 160.5 | 134.6 |
Tradenames [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 165.4 | 171 |
Accumulated Amortization | (73.7) | (61) |
Net | $ 91.7 | $ 110 |
Goodwill And Intangible Asset71
Goodwill And Intangible Assets (Schedule Of Future Amortization Expense) (Details) $ in Millions | Sep. 30, 2015USD ($) |
Goodwill And Intangible Assets [Abstract] | |
2,016 | $ 93.9 |
2,017 | 93 |
2,018 | 86.2 |
2,019 | 85.1 |
2,020 | $ 84.9 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) € in Millions, CAD in Millions, $ in Millions | 12 Months Ended | ||||||||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2013USD ($) | Jun. 23, 2015CAD | Jun. 23, 2015EUR (€) | Jun. 23, 2015USD ($) | May. 20, 2015USD ($) | Dec. 04, 2014USD ($) | Dec. 17, 2012USD ($) | |
Debt Instrument [Line Items] | |||||||||
Senior Notes | $ 1,450 | ||||||||
Debt issuance costs | $ 65.1 | $ 51.1 | |||||||
Payments for debt issuance fees | 38.1 | 5.4 | $ 60.9 | ||||||
Write off of debt issuance costs on retired debt | 11.2 | 6.4 | 21.6 | ||||||
Adjustment to interest expense | 1.7 | 2.8 | (5.2) | ||||||
USD Term Loan [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Senior Notes | CAD | CAD 75 | ||||||||
Discount on debt issued | 5.1 | ||||||||
Debt issuance costs | 18.5 | ||||||||
Capitalized debt issuance costs | 8.1 | ||||||||
Unamortized debt issuance expense | 7.7 | ||||||||
Interest expense | $ 10.4 | ||||||||
USD Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Variable interest rate floor | 0.75% | ||||||||
Percentage over base variable rate | 3.00% | ||||||||
USD Term Loan [Member] | Base Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage over base variable rate | 2.00% | ||||||||
CAD Term Loan [Member] | Canadian Dollor Offered Rate (CDOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Variable interest rate floor | 0.75% | ||||||||
Percentage over base variable rate | 3.50% | ||||||||
CAD Term Loan [Member] | Base Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage over base variable rate | 2.50% | ||||||||
Euro Term Loan [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Senior Notes | € | € 300 | ||||||||
Euro Term Loan [Member] | Euro Interbank Offered Rate (EURIBOR) [member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Variable interest rate floor | 0.75% | ||||||||
Percentage over base variable rate | 2.75% | ||||||||
6.375% Notes, Due November 15, 2020 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Notes | $ 520 | ||||||||
Interest rate | 6.375% | ||||||||
Maturity date | Nov. 15, 2020 | ||||||||
Unamortized debt issuance expense | 12.9 | ||||||||
6.625% Notes, Due November 15, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Notes | $ 570 | ||||||||
Interest rate | 6.625% | ||||||||
Maturity date | Nov. 15, 2022 | ||||||||
Unamortized debt issuance expense | 14.1 | ||||||||
6.375% Notes And 6.625% Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage of holders of aggregate outstanding principal amount to declare acceleration of amounts due in any event of default | 25.00% | ||||||||
6.125% Notes, Due December 15, 2024 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Notes | $ 250 | ||||||||
Interest rate | 6.125% | ||||||||
Maturity date | Dec. 15, 2024 | ||||||||
Unamortized debt issuance expense | $ 4.6 | ||||||||
Debt price as percentage of par value | 100.00% | ||||||||
Percentage of aggregate outstanding principal amount needed to declare acceleration of amounts due | 25.00% | ||||||||
5.75% Notes, Due July 15, 2025 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Notes | $ 1,000 | ||||||||
Interest rate | 5.75% | ||||||||
Maturity date | Jul. 15, 2025 | ||||||||
Unamortized debt issuance expense | $ 19.7 | ||||||||
Debt price as percentage of par value | 100.00% | ||||||||
Percentage of aggregate outstanding principal amount needed to declare acceleration of amounts due | 25.00% | ||||||||
6.75% Notes, Due March 15, 2020 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Notes | 300 | ||||||||
Interest rate | 6.75% | ||||||||
Maturity date | Mar. 15, 2020 | ||||||||
Unamortized debt issuance expense | $ 16.9 | ||||||||
Write off of debt issuance costs on retired debt | 4.1 | ||||||||
Revolver Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Revolving credit facility | $ 500 | ||||||||
Payments for debt issuance fees | 5.7 | ||||||||
Interest expense | 1.1 | ||||||||
Aggregate borrowing availability | 467.3 | ||||||||
Outstanding letters of credit | $ 32.7 | ||||||||
Revolver Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage over base variable rate | 3.00% | ||||||||
Revolver Facility [Member] | Base Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage over base variable rate | 2.00% | ||||||||
Minimum [Member] | 6.375% Notes And 6.625% Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt redemption notice period | 30 days | ||||||||
Maximum [Member] | 6.375% Notes And 6.625% Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt redemption notice period | 60 days | ||||||||
Maximum [Member] | 6.125% Notes, Due December 15, 2024 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage of aggregate principal amount of debt that issuer may redeem with cash equal to net proceeds issuer raises in equity offerings at specified redemption prices | 35.00% | ||||||||
Maximum [Member] | 5.75% Notes, Due July 15, 2025 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Percentage of aggregate principal amount of debt that issuer may redeem with cash equal to net proceeds issuer raises in equity offerings at specified redemption prices | 35.00% | ||||||||
SB/RH Holdings, LLC [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt held includes a loan with SBH | $ 34.7 | 15.8 | |||||||
Payments for debt issuance fees | 38.1 | 5.4 | 60.9 | ||||||
Write off of debt issuance costs on retired debt | 11.2 | 6.4 | 21.6 | ||||||
Adjustment to interest expense | $ 1.7 | $ 2.8 | $ (5.2) |
Debt (Schedule Of Debt) (Detail
Debt (Schedule Of Debt) (Details) € in Millions, CAD in Millions, $ in Millions | 12 Months Ended | |||||||
Sep. 30, 2015USD ($) | Jun. 23, 2015CAD | Jun. 23, 2015EUR (€) | Jun. 23, 2015USD ($) | May. 20, 2015USD ($) | Dec. 04, 2014USD ($) | Sep. 30, 2014USD ($) | Dec. 17, 2012USD ($) | |
Debt Instrument [Line Items] | ||||||||
Term loan | $ 1,450 | |||||||
Total debt | $ 3,977.8 | $ 2,997.1 | ||||||
Unamortized discount on debt | (6.8) | (6.3) | ||||||
Less current portion | (33.8) | (96.7) | ||||||
Long-term debt | 3,937.2 | 2,894.1 | ||||||
SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Total debt | 4,012.5 | 3,012.9 | ||||||
Unamortized discount on debt | (6.8) | (6.2) | ||||||
Less current portion | (68.5) | (112.6) | ||||||
Long-term debt | $ 3,937.2 | 2,894.1 | ||||||
USD Term Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | CAD | CAD 75 | |||||||
USD Term Loan [Member] | Due September 4, 2017 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 648.4 | |||||||
Rate | 3.00% | |||||||
Maturity date | Sep. 4, 2017 | |||||||
USD Term Loan [Member] | Due September 4, 2017 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 648.4 | |||||||
Rate | 3.00% | |||||||
USD Term Loan [Member] | Due September 4, 2019 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 509.9 | |||||||
Rate | 3.60% | |||||||
Maturity date | Sep. 4, 2019 | |||||||
USD Term Loan [Member] | Due September 4, 2019 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 509.9 | |||||||
Rate | 3.60% | |||||||
USD Term Loan [Member] | Due June 23, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 1,226.9 | |||||||
Rate | 3.90% | |||||||
Maturity date | Jun. 23, 2022 | |||||||
USD Term Loan [Member] | Due June 23, 2022 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 1,226.9 | |||||||
Rate | 3.90% | |||||||
CAD Term Loan [Member] | Due June 23, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 55.7 | |||||||
Rate | 4.40% | |||||||
Maturity date | Jun. 23, 2022 | |||||||
CAD Term Loan [Member] | Due June 23, 2022 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 55.7 | |||||||
Rate | 4.40% | |||||||
CAD Term Loan [Member] | Due December 17, 2019 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 34.2 | |||||||
Rate | 5.10% | |||||||
Maturity date | Dec. 17, 2019 | |||||||
CAD Term Loan [Member] | Due December 17, 2019 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 34.2 | |||||||
Rate | 5.10% | |||||||
Euro Term Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | € | € 300 | |||||||
Euro Term Loan [Member] | Due September 4, 2019 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 283.3 | |||||||
Rate | 3.80% | |||||||
Maturity date | Sep. 4, 2019 | |||||||
Euro Term Loan [Member] | Due September 4, 2019 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 283.3 | |||||||
Rate | 3.80% | |||||||
Euro Term Loan [Member] | Due June 23, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 255.8 | |||||||
Rate | 3.50% | |||||||
Maturity date | Jun. 23, 2022 | |||||||
Euro Term Loan [Member] | Due June 23, 2022 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Term loan | $ 255.8 | |||||||
Rate | 3.50% | |||||||
5.75% Notes, Due July 15, 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 1,000 | |||||||
Interest rate | 5.75% | |||||||
Maturity date | Jul. 15, 2025 | |||||||
5.75% Notes, Due July 15, 2025 [Member] | Unsecured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 1,000 | |||||||
Rate | 5.80% | |||||||
5.75% Notes, Due July 15, 2025 [Member] | Unsecured Debt [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 1,000 | |||||||
Rate | 5.80% | |||||||
6.125% Notes, Due December 15, 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 250 | |||||||
Interest rate | 6.125% | |||||||
Maturity date | Dec. 15, 2024 | |||||||
6.125% Notes, Due December 15, 2024 [Member] | Unsecured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 250 | |||||||
Rate | 6.10% | |||||||
6.125% Notes, Due December 15, 2024 [Member] | Unsecured Debt [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 250 | |||||||
Rate | 6.10% | |||||||
6.375% Notes, Due November 15, 2020 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 520 | |||||||
Interest rate | 6.375% | |||||||
Maturity date | Nov. 15, 2020 | |||||||
6.375% Notes, Due November 15, 2020 [Member] | Unsecured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 520 | $ 520 | ||||||
Rate | 6.40% | 6.40% | ||||||
6.375% Notes, Due November 15, 2020 [Member] | Unsecured Debt [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 520 | $ 520 | ||||||
Rate | 6.40% | 6.40% | ||||||
6.625% Notes, Due November 15, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 570 | |||||||
Interest rate | 6.625% | |||||||
Maturity date | Nov. 15, 2022 | |||||||
6.625% Notes, Due November 15, 2022 [Member] | Unsecured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 570 | $ 570 | ||||||
Rate | 6.60% | 6.60% | ||||||
6.625% Notes, Due November 15, 2022 [Member] | Unsecured Debt [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 570 | $ 570 | ||||||
Rate | 6.60% | 6.60% | ||||||
6.75% Notes, Due March 15, 2020 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 300 | |||||||
Interest rate | 6.75% | |||||||
Maturity date | Mar. 15, 2020 | |||||||
6.75% Notes, Due March 15, 2020 [Member] | Unsecured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 300 | |||||||
Rate | 6.80% | |||||||
6.75% Notes, Due March 15, 2020 [Member] | Unsecured Debt [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 300 | |||||||
Rate | 6.80% | |||||||
Revolver Facility [Member] | Expiring June 23, 2020 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maturity date | Jun. 23, 2020 | |||||||
Revolver Facility [Member] | Expiring June 23, 2020 [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Revolver facility | ||||||||
Other Notes And Obligations [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Other notes and obligations | $ 11.2 | $ 36.6 | ||||||
Rate | 10.20% | 8.80% | ||||||
Other Notes And Obligations [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Other notes and obligations | $ 45.9 | $ 52.4 | ||||||
Rate | 4.90% | 6.70% | ||||||
Obligations Under Capital Leases [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Capitalized lease obligations | $ 88.2 | $ 94.7 | ||||||
Rate | 5.70% | 6.10% | ||||||
Obligations Under Capital Leases [Member] | SB/RH Holdings, LLC [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Capitalized lease obligations | $ 88.2 | $ 94.7 | ||||||
Rate | 5.70% | 6.10% |
Debt (Aggregate Scheduled Matur
Debt (Aggregate Scheduled Maturities Of Debt And Capital Lease Obligations) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Debt Instrument [Line Items] | ||
2,016 | $ 33.8 | |
2,017 | 22.5 | |
2,018 | 21.7 | |
2,019 | 21 | |
2,020 | 20.9 | |
Thereafter | 3,857.9 | |
Total debt | 3,977.8 | $ 2,997.1 |
Obligations Under Capital Leases [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 7.2 | |
2,017 | 7.1 | |
2,018 | 6.3 | |
2,019 | 5.6 | |
2,020 | 5.5 | |
Thereafter | 56.5 | |
Total debt | 88.2 | |
Debt [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 26.6 | |
2,017 | 15.4 | |
2,018 | 15.4 | |
2,019 | 15.4 | |
2,020 | 15.4 | |
Thereafter | 3,801.4 | |
Total debt | 3,889.6 | |
SB/RH Holdings, LLC [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 68.7 | |
2,017 | 22.4 | |
2,018 | 21.7 | |
2,019 | 21 | |
2,020 | 20.9 | |
Thereafter | 3,857.8 | |
Total debt | 4,012.5 | $ 3,012.9 |
SB/RH Holdings, LLC [Member] | Obligations Under Capital Leases [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 7.3 | |
2,017 | 7 | |
2,018 | 6.3 | |
2,019 | 5.6 | |
2,020 | 5.5 | |
Thereafter | 56.5 | |
Total debt | 88.2 | |
SB/RH Holdings, LLC [Member] | Debt [Member] | ||
Debt Instrument [Line Items] | ||
2,016 | 61.4 | |
2,017 | 15.4 | |
2,018 | 15.4 | |
2,019 | 15.4 | |
2,020 | 15.4 | |
Thereafter | 3,801.3 | |
Total debt | $ 3,924.3 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Leases [Abstract] | |||
Rent expense | $ 36.3 | $ 40.8 | $ 41.8 |
Leases (Schedule Of Future Mini
Leases (Schedule Of Future Minimum Rental Commitments Under Non-Cancelable Operating Leases) (Details) $ in Millions | Sep. 30, 2015USD ($) |
Leases [Abstract] | |
2,016 | $ 39.7 |
2,017 | 34.8 |
2,018 | 25.2 |
2,019 | 19.2 |
2,020 | 12 |
Thereafter | 20.6 |
Total minimum lease payments | $ 151.5 |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative [Line Items] | ||
Unrealized loss on derivative contracts in AOCL expected to be recognized in September 30, 2016 | $ 2.8 | |
Derivatives Hedging [Member] | Foreign Exchange Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 300.6 | $ 226.7 |
Derivatives Hedging [Member] | Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Derivative, fixed interest rate | 1.36% | |
Notional Amount | $ 300 | 300 |
Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Credit reserve on derivative assets | 0.1 | 0.1 |
Posted cash collateral | 3.5 | |
Letters of Credit Outstanding, Amount | 0 | 0 |
Fair Value Hedging [Member] | Foreign Exchange Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 126.8 | 108.9 |
Maximum [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Posted cash collateral | $ 0.1 |
Derivatives (Interest Rate Swap
Derivatives (Interest Rate Swap Derivative Financial Instruments) (Details) - Derivatives Hedging [Member] - Interest Rate Swaps [Member] - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | $ 300 | $ 300 |
Remaining Years | 1 year 6 months | 2 years 6 months |
Derivatives (Commodity Swap Con
Derivatives (Commodity Swap Contracts Outstanding) (Details) $ in Millions | 12 Months Ended | |
Sep. 30, 2015USD ($)oztT | Sep. 30, 2014USD ($)oztT | |
Zinc [Member] | ||
Derivative [Line Items] | ||
Notional | T | 10.8 | 8 |
Contract Value | $ 22.2 | $ 17.4 |
Brass [Member] | ||
Derivative [Line Items] | ||
Notional | T | 1.8 | 0.6 |
Contract Value | $ 8.5 | $ 2.8 |
Silver [Member] | ||
Derivative [Line Items] | ||
Notional | ozt | 25 | 25 |
Contract Value | $ 0.4 | $ 0.4 |
Derivatives (Fair Value Of Outs
Derivatives (Fair Value Of Outstanding Derivative Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 9.8 | $ 2.1 |
Derivatives Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 6 | $ 14.7 |
Commodity Contracts [Member] | Other Long-term Liabilities [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.8 | |
Commodity Contracts [Member] | Accounts Payable [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 4.7 | $ 0.2 |
Commodity Contracts [Member] | Accounts Payable [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0.1 | 0.1 |
Commodity Contracts [Member] | Derivatives Hedging [Member] | Receivables - Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 1.3 | |
Foreign Exchange Contracts [Member] | Receivables - Other [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0.4 | $ 0.5 |
Foreign Exchange Contracts [Member] | Accounts Payable [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 1.5 | |
Foreign Exchange Contracts [Member] | Accounts Payable [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.1 | $ 0.1 |
Foreign Exchange Contracts [Member] | Derivatives Hedging [Member] | Deferred Charges And Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.4 | 0.3 |
Foreign Exchange Contracts [Member] | Derivatives Hedging [Member] | Receivables - Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 5.2 | 12 |
Interest Rate Contracts [Member] | Other Current Liabilities [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 1.4 | 1.3 |
Interest Rate Contracts [Member] | Accrued Interest [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.4 | $ 0.4 |
Interest Rate Contracts [Member] | Other Long-term Liabilities [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0.8 | |
Interest Rate Contracts [Member] | Derivatives Hedging [Member] | Deferred Charges And Other [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0.6 |
Derivatives (Impact Of Effectiv
Derivatives (Impact Of Effective And Ineffective Portions Of Cash Flow Hedges And Gain (Loss) Recognized) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ 11.3 | $ 13.1 | $ (2) |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | $ 27.5 | $ (2.5) | $ 0.9 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | |||
Interest Rate Contracts [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ (3.4) | $ (1.6) | |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | $ (1.9) | $ (0.9) | |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | |||
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) | $ (7.2) | $ 1.9 | $ (2.6) |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | $ (0.7) | $ 0.8 | $ (0.6) |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | |||
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) | $ 21.8 | $ 12.7 | $ (0.3) |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | $ 30 | $ (2.6) | $ 0.6 |
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) | $ 0.1 | $ 0.1 | $ 0.9 |
Amount of Gain (Loss) Reclassified From AOCI into Income (Effective Portion) | $ 0.1 | $ 0.2 | $ 0.9 |
Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) |
Derivatives (Gain (Loss) Associ
Derivatives (Gain (Loss) Associated With Derivative Contracts Not Designated As Hedges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain (Loss) Recognized in Income on Derivatives | $ (2.6) | $ 3 | $ (3.7) |
Commodity Contracts [Member] | Cost Of Goods Sold [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain (Loss) Recognized in Income on Derivatives | (0.1) | (0.1) | (0.1) |
Foreign Exchange Contracts [Member] | Other Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of Gain (Loss) Recognized in Income on Derivatives | $ (2.5) | $ 3.1 | $ (3.6) |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015USD ($)item | Sep. 30, 2014USD ($) | Sep. 30, 2013USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net loss in AOCI expected to be recognized during Fiscal 2016 | $ 2.4 | ||
Defined Contribution Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Company contributions charged to operations including discretionary amounts | $ 11.2 | $ 12.3 | $ 11.1 |
Pension Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Deferred compensation arrangement with individual, maximum contractual term | 15 years | ||
Number of annual installments | item | 15 | ||
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Deferred compensation arrangement with individual, maximum contractual term | 10 years | ||
Amortization period transition obligation | 20 years | ||
Projected benefit obligation | $ 0.4 | 0.4 | |
Other Postretirement Benefits [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Health care benefits accrual age | 40 years | ||
Other Postretirement Benefits [Member] | Maximum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Health care benefits accrual age | 65 years | ||
Net periodic cost | $ 0.1 | $ 0.1 | $ 0.1 |
Employee Benefit Plans (Additio
Employee Benefit Plans (Additional Information On Pension Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, beginning of year | $ 188.9 | |||
Fair value of plan assets, end of year | 175.1 | $ 188.9 | ||
Deferred charges and other | 101.7 | 88.4 | ||
Other long-term liabilities | 115.5 | 103.2 | ||
Accumulated other comprehensive income (loss) | (200.1) | (63.1) | $ (38.5) | $ (33.4) |
International Defined Benefit Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit obligation, beginning of year | 196.2 | 189.2 | ||
Obligations assumed through acquisitions | 0.6 | |||
Transfer of obligation | (1.8) | |||
Service cost | 2.6 | 3 | 2.8 | |
Interest cost | 6.2 | 7.4 | 7.1 | |
Actuarial (gain) loss | 10.6 | 8.6 | ||
Curtailments | (0.9) | |||
Participant contributions | 0.1 | |||
Benefits paid | (11.8) | (6.2) | ||
Foreign currency exchange rate changes | (17.3) | (5.9) | ||
Benefit obligation, end of year | 184.4 | 196.2 | 189.2 | |
Fair value of plan assets, beginning of year | 126.5 | 117 | ||
Actual return on plan assets | 3.6 | 7.7 | ||
Employer contributions | 7.8 | 10.3 | ||
Employee contributions | 0.1 | |||
Benefits Paid | (11.8) | (6.2) | ||
Foreign currency exchange rate changes | (9.2) | (2.4) | ||
Fair value of plan assets, end of year | 116.9 | 126.5 | 117 | |
Funded Status | (67.5) | (69.7) | ||
Deferred charges and other | 1.7 | |||
Other accrued expenses | 2.2 | 2.9 | ||
Other long-term liabilities | 65.3 | 68.5 | ||
Accumulated other comprehensive income (loss) | (23.4) | (20.9) | ||
U.S. Defined Benefit Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit obligation, beginning of year | 70.9 | 66.9 | ||
Service cost | 0.4 | 0.2 | 0.2 | |
Interest cost | 2.9 | 3 | 2.8 | |
Actuarial (gain) loss | 3.3 | 4.3 | ||
Benefits paid | (3.6) | (3.5) | ||
Benefit obligation, end of year | 73.9 | 70.9 | 66.9 | |
Fair value of plan assets, beginning of year | 62.4 | 58.5 | ||
Actual return on plan assets | (1.2) | 4.8 | ||
Employer contributions | 0.6 | 2.6 | ||
Benefits Paid | (3.6) | (3.5) | ||
Fair value of plan assets, end of year | 58.2 | 62.4 | $ 58.5 | |
Funded Status | (15.7) | (8.5) | ||
Other accrued expenses | 0.6 | 0.6 | ||
Other long-term liabilities | 15.1 | 7.9 | ||
Accumulated other comprehensive income (loss) | $ (20.4) | $ (11.7) | ||
Weighted average assumptions | ||||
Discount rate | 4.25% | 4.15% | ||
Expected return on plan assets | 7.25% | 7.50% | ||
Minimum [Member] | International Defined Benefit Plan [Member] | ||||
Weighted average assumptions | ||||
Discount rate | 1.75% | 2.00% | ||
Expected return on plan assets | 3.50% | 2.00% | ||
Rate of compensation increase | 2.25% | 2.25% | ||
Maximum [Member] | International Defined Benefit Plan [Member] | ||||
Weighted average assumptions | ||||
Discount rate | 13.81% | 13.50% | ||
Expected return on plan assets | 5.26% | 5.26% | ||
Rate of compensation increase | 5.50% | 5.50% |
Employee Benefit Plans (Amounts
Employee Benefit Plans (Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) Associated With Employee Benefit Plan Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Cost of goods sold | $ 3,018 | $ 2,856.5 | $ 2,685.3 |
Selling expenses | 720.7 | 678.2 | 637 |
General and administrative | 338.8 | 321.6 | 286.4 |
Amounts reclassified from accumulated other comprehensive loss | 26.1 | (4) | (0.4) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Pension Benefits [Member] | |||
Cost of goods sold | 0.6 | 0.6 | 1.5 |
Selling expenses | 0.3 | 0.3 | (0.6) |
General and administrative | 0.5 | 0.5 | 0.4 |
Amounts reclassified from accumulated other comprehensive loss | $ 1.4 | $ 1.4 | $ 1.3 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
International Defined Benefit Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | $ 2.6 | $ 3 | $ 2.8 |
Interest cost | 6.2 | 7.4 | 7.1 |
Expected return on assets | (5.2) | (5.8) | (5) |
Curtailment gain | 0.7 | (0.1) | (0.7) |
Recognized net actuarial (gain) loss | 1.3 | 1.4 | 0.9 |
Net periodic benefit cost (benefit) | $ 5.6 | $ 5.9 | $ 5.1 |
International Defined Benefit Plan [Member] | Minimum [Member] | |||
Weighted average assumptions | |||
Discount rate | 2.00% | 2.25% | 1.75% |
Expected return on plan assets | 2.00% | 4.00% | 3.60% |
Rate of compensation increase | 2.25% | 2.25% | 2.25% |
International Defined Benefit Plan [Member] | Maximum [Member] | |||
Weighted average assumptions | |||
Discount rate | 13.50% | 12.50% | 13.00% |
Expected return on plan assets | 5.26% | 5.76% | 5.00% |
Rate of compensation increase | 5.50% | 5.50% | 5.50% |
U.S. Defined Benefit Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | $ 0.4 | $ 0.2 | $ 0.2 |
Interest cost | 2.9 | 3 | 2.8 |
Expected return on assets | $ (4.5) | $ (4.1) | $ (3.7) |
Curtailment gain | |||
Recognized net actuarial (gain) loss | $ 0.2 | $ 0.1 | $ 1.2 |
Net periodic benefit cost (benefit) | $ (1) | $ (0.8) | $ 0.5 |
Weighted average assumptions | |||
Discount rate | 4.15% | 4.65% | 3.75% |
Expected return on plan assets | 7.50% | 7.75% | 7.75% |
Employee Benefit Plans (Summary
Employee Benefit Plans (Summary Of Allocation Of Pension Plan Assets) (Details) | Sep. 30, 2015 | Sep. 30, 2014 |
International Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 100.00% | 100.00% |
U.S. Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 100.00% | 100.00% |
Equity Securities [Member] | International Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 6.00% | 6.00% |
Equity Securities [Member] | U.S. Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 63.00% | 61.00% |
Fixed Income Securities [Member] | International Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 25.00% | 22.00% |
Fixed Income Securities [Member] | U.S. Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 35.00% | 37.00% |
Other [Member] | International Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 69.00% | 72.00% |
Other [Member] | U.S. Defined Benefit Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Plan Assets, Actual Allocation | 2.00% | 2.00% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value Of Pension Plan Assets By Asset Category) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 175.1 | $ 188.9 | |
U.S. Defined Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 58.2 | 62.4 | $ 58.5 |
International Defined Benefit Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 116.9 | 126.5 | $ 117 |
Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 59.6 | 45.8 | |
Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 115.5 | $ 143.1 | |
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 | $ 25.7 | $ 27 | |
Equity Securities [Member] | Foreign Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 16.7 | 18.7 | |
Equity Securities [Member] | Level 1 [Member] | U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 18.6 | 19.9 | |
Equity Securities [Member] | Level 1 [Member] | Foreign Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10.5 | 11.1 | |
Equity Securities [Member] | Level 2 [Member] | U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 7.1 | 7.1 | |
Equity Securities [Member] | Level 2 [Member] | Foreign Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 6.2 | $ 7.6 | |
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 | |||
Debt Securities [Member] | U.S. Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 19.5 | $ 19.2 | |
Debt Securities [Member] | Foreign Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 18.1 | 23.6 | |
Debt Securities [Member] | Foreign Government Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11.2 | 8.5 | |
Debt Securities [Member] | Level 1 [Member] | U.S. Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 18.2 | 4 | |
Debt Securities [Member] | Level 1 [Member] | Foreign Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3 | 3.1 | |
Debt Securities [Member] | Level 2 [Member] | U.S. Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.3 | 15.2 | |
Debt Securities [Member] | Level 2 [Member] | Foreign Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.1 | 20.5 | |
Debt Securities [Member] | Level 2 [Member] | Foreign Government Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 11.2 | $ 8.5 | |
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 | $ 7.2 | $ 7.2 | |
Real Estate [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.2 | 1.3 | |
Real Estate [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 6 | $ 5.9 | |
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 | $ 35.5 | $ 37.7 | |
Life Insurance Contracts [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 35.5 | $ 37.7 | |
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 | $ 33.1 | $ 38.7 | |
Other [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 33.1 | $ 38.7 | |
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 | $ 8.1 | $ 8.3 | |
Foreign Cash And Cash Equivalents [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 8.1 | 6.4 | |
Foreign Cash And Cash Equivalents [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 1.9 | ||
Foreign Cash And Cash Equivalents [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule Of Benefit Payments Expected To Be Paid) (Details) $ in Millions | Sep. 30, 2015USD ($) |
International Defined Benefit Plan [Member] | |
2,016 | $ 5.4 |
2,017 | 5.7 |
2,018 | 6.1 |
2,019 | 6.9 |
2,020 | 6.8 |
2021-2025 | 39.4 |
U.S. Defined Benefit Plan [Member] | |
2,016 | 3.9 |
2,017 | 3.8 |
2,018 | 4 |
2,019 | 4.2 |
2,020 | 4.2 |
2021-2025 | $ 21.5 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Taxes [Line Items] | ||||
Deferred tax assets related to foreign subsidiaries investment | $ 23.3 | |||
Reduction in net operating loss deferred tax assets result of prior year adjustments | $ 14.4 | |||
U.S. federal statutory rate | 35.00% | |||
Distributed earnings of foreign subsidiaries | $ 37.5 | $ 190.5 | ||
Amount of taxable earnings on repatriation | 3.1 | |||
Tax expense related to distribution of foreign earnings | 0.3 | 0.1 | ||
Undistributed earnings of foreign subsidiaries | 183.8 | |||
Distributions related to one-time internal restructuring and external debt refinancing activities | 178.7 | |||
U.S. federal net operating loss carryforwards | 894.5 | |||
Tax benefit | (4.6) | 1.9 | $ (21.6) | |
Capital loss carryforwards | 14.2 | |||
Federal and state tax benefit | 5.4 | |||
Additional federal and state operating loss carryforwards | 59.6 | |||
Foreign operating loss carryforwards | 127.6 | |||
Unrealized federal tax benefit related to federal operating loss carryforwards | 95.5 | |||
U.S. federal operating loss carryforwards expected to expire unused | 272.9 | |||
U.S. State operating loss carryforwards expected to exipre unused | 16.7 | |||
Deferred tax assets, foreign operating loss carryforwards expected to expire unused | 29.4 | |||
Deferred tax assets, valuation allowance | 305.4 | 333.1 | ||
Valuation allowance, deferred tax asset, change in amount | 27.7 | 121.5 | ||
Purchase accounting benefit | 22.8 | 49.8 | ||
Unrecognized tax benefits | 14.1 | 11.3 | 13.8 | $ 5.9 |
Unrecognized tax benefits that would impact effective tax rate | 11.4 | |||
Unrecognized tax benefits that would effect deferred tax assets | 2.7 | |||
Unrecognized tax benefits, income tax penalties and interest accrued | 2.8 | 3.5 | ||
Unrecognized tax benefits, income tax penalties and interest expense | 0.9 | 1.1 | 0.1 | |
Latin America [Member] | ||||
Income Taxes [Line Items] | ||||
Deferred tax assets, valuation allowance | 17 | |||
Domestic Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Tax benefit | 313.1 | |||
Deferred tax assets, valuation allowance | 268.7 | 299.1 | ||
Valuation allowance, deferred tax asset, change in amount | $ 30.4 | 122.6 | ||
Domestic Tax Authority [Member] | Maximum [Member] | ||||
Income Taxes [Line Items] | ||||
Operating loss carryforwards, expiration | Dec. 31, 2035 | |||
Foreign Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Deferred tax assets, valuation allowance | $ 36.7 | 34 | ||
Valuation allowance, deferred tax asset, change in amount | $ 2.7 | 1.1 | ||
Foreign Tax Authority [Member] | Minimum [Member] | ||||
Income Taxes [Line Items] | ||||
Operating loss carryforwards, expiration | Sep. 30, 2016 | |||
State and Local Jurisdiction [Member] | ||||
Income Taxes [Line Items] | ||||
Tax benefit | $ 68.7 | |||
HHI Business Rationalization Initiatives [Member] | ||||
Income Taxes [Line Items] | ||||
Purchase accounting benefit | 49.8 | |||
HHI Business Rationalization Initiatives [Member] | Domestic Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Valuation allowance, deferred tax asset, change in amount | $ (62.6) | $ 49.8 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
United States | $ 3.4 | $ 80.7 | $ (212.1) |
Outside the United States | 189.9 | 192.8 | 184.2 |
Income (loss) from operations before income taxes | 193.3 | 273.5 | (27.9) |
SB/RH Holdings, LLC [Member] | |||
United States | 9.8 | 83.3 | (204.3) |
Outside the United States | 189.9 | 192.8 | 184.2 |
Income (loss) from operations before income taxes | $ 199.7 | $ 276.1 | $ (20.1) |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Current: Federal | $ 3.6 | $ 6.2 | |
Current: Foreign | 40.4 | 46.6 | $ 47.7 |
Current: State and local | 4.5 | 4.3 | 1.3 |
Total Current | 48.5 | 57.1 | 49 |
Deferred: Federal | (12.3) | 19.7 | (23.4) |
Deferred: Foreign | 11.2 | (8.2) | 2.2 |
Deferred: State and local | (3.5) | (9.6) | (0.4) |
Total Deferred | (4.6) | 1.9 | (21.6) |
Income tax expense | 43.9 | 59 | 27.4 |
SB/RH Holdings, LLC [Member] | |||
Current: Federal | 3.6 | 6.2 | |
Current: Foreign | 40.4 | 46.6 | 47.7 |
Current: State and local | 4.5 | 4.3 | 1.3 |
Total Current | 48.5 | 57.1 | 49 |
Deferred: Federal | (12.3) | 19.7 | (23.4) |
Deferred: Foreign | 11.2 | (8.2) | 2.2 |
Deferred: State and local | (3.5) | (9.6) | (0.4) |
Total Deferred | (4.6) | 1.9 | (21.6) |
Income tax expense | $ 43.9 | $ 59 | $ 27.4 |
Income Taxes (Schedule Of Recon
Income Taxes (Schedule Of Reconciliation Of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
U.S. Statutory federal income tax expense (benefit) | $ 67.6 | $ 95.7 | $ (9.8) |
Permanent items | 5.2 | 4.6 | 10.1 |
Foreign statutory rate vs. U.S. statutory rate | (33.8) | (28.7) | (25.1) |
State income taxes, net of federal effect | 1.7 | 5.4 | (11.7) |
Residual tax on foreign earnings | 24.8 | 90.9 | (7) |
Investment in foreign subsidiary | (23.3) | ||
Purchase accounting benefit | (22.8) | (49.8) | |
Change in valuation allowance | 2.6 | (115.6) | 114.3 |
Unrecognized tax expense | $ (1.2) | 0.5 | 4 |
Foreign tax law changes | (7.6) | ||
Nondeductible share compensation | $ 2.3 | 1.4 | 1.7 |
Adjustment to prior year NOLs | 14.4 | ||
Return to provision adjustments and other, net | 6.4 | 12.4 | 0.7 |
Income tax expense | 43.9 | 59 | 27.4 |
SB/RH Holdings, LLC [Member] | |||
U.S. Statutory federal income tax expense (benefit) | 69.9 | 96.6 | (7.1) |
Permanent items | 5.2 | 4.6 | 10.1 |
Foreign statutory rate vs. U.S. statutory rate | (33.8) | (28.7) | (25.1) |
State income taxes, net of federal effect | 1.7 | 5.4 | (11.7) |
Residual tax on foreign earnings | 24.8 | 90.9 | (7) |
Investment in foreign subsidiary | (23.3) | ||
Purchase accounting benefit | (22.8) | (49.8) | |
Change in valuation allowance | 0.5 | (116.5) | 111.6 |
Unrecognized tax expense | (1.2) | 0.5 | 4 |
Foreign tax law changes | (7.6) | ||
Nondeductible share compensation | 2.3 | 1.4 | 1.7 |
Adjustment to prior year NOLs | 14.4 | ||
Return to provision adjustments and other, net | 6.2 | 12.4 | 0.7 |
Income tax expense | $ 43.9 | $ 59 | $ 27.4 |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Tax Assets And Deferred Tax Liabilities) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Income Taxes [Line Items] | ||
Employee benefits | $ 63.2 | $ 57.7 |
Restructuring | 4.1 | 7 |
Inventories and receivables | 35.2 | 24.9 |
Marketing and promotional accruals | 14.4 | 16 |
Prepaid royalty | 6.3 | 6.6 |
Property, plant and equipment | 11.6 | 7 |
Unrealized losses | 2.7 | 0.3 |
Intangibles | 6.1 | 6.7 |
Investment in non-US subsidiaries | 23.3 | |
Net operating loss and credit carry forwards | 447.7 | 507.5 |
Other | 32.8 | 19.5 |
Total deferred tax assets | 647.4 | 653.2 |
Property, plant and equipment | 27.1 | 22.6 |
Unrealized gains | 18.6 | 21.2 |
Intangibles | 840.8 | 728 |
Taxes on unremitted foreign earnings | 2.4 | 2.6 |
Other | 16.3 | 15 |
Total deferred tax liabilities | 905.2 | 789.4 |
Net deferred tax liabilities | (257.8) | (136.2) |
Valuation allowance | (305.4) | (333.1) |
Net deferred tax liabilities, net valuation allowance | (563.2) | (469.3) |
Prepaid expenses and other | 44.7 | 36.7 |
Deferred charges and other | 3.7 | 10 |
Other current liabilities | (4.6) | (2.8) |
Deferred taxes (noncurrent liability) | (607) | (513.2) |
SB/RH Holdings, LLC [Member] | ||
Income Taxes [Line Items] | ||
Employee benefits | 60.9 | 57 |
Restructuring | 4.1 | 7 |
Inventories and receivables | 35.2 | 24.9 |
Marketing and promotional accruals | 14.4 | 16 |
Prepaid royalty | 6.3 | 6.6 |
Property, plant and equipment | 11.6 | 7 |
Unrealized losses | 2.7 | 0.3 |
Intangibles | 6.1 | 6.7 |
Investment in non-US subsidiaries | 23.3 | |
Net operating loss and credit carry forwards | 441.6 | 502.1 |
Other | 32.6 | 19.2 |
Total deferred tax assets | 638.8 | 646.8 |
Property, plant and equipment | 27.1 | 22.6 |
Unrealized gains | 18.6 | 21.2 |
Intangibles | 840.8 | 728 |
Taxes on unremitted foreign earnings | 2.4 | 2.6 |
Other | 16.3 | 15 |
Total deferred tax liabilities | 905.2 | 789.4 |
Net deferred tax liabilities | (266.4) | (142.6) |
Valuation allowance | (296.8) | (326.7) |
Net deferred tax liabilities, net valuation allowance | (563.2) | (469.3) |
Prepaid expenses and other | 44.7 | 36.7 |
Deferred charges and other | 3.7 | 10 |
Other current liabilities | (4.6) | (2.8) |
Deferred taxes (noncurrent liability) | $ (607) | $ (513.2) |
Income Taxes (Schedule Of Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Taxes [Abstract] | |||
Unrecognized tax benefits, beginning of year | $ 11.3 | $ 13.8 | $ 5.9 |
Gross increase – tax positions in prior period | 4.1 | 1.5 | 9.1 |
Gross decrease – tax positions in prior period | (1.9) | (1.4) | (0.3) |
Gross increase – tax positions in current period | 1.8 | 0.7 | 0.5 |
Settlements | (0.9) | (2.5) | (0.1) |
Lapse of statutes of limitations | (0.3) | (0.8) | (1.3) |
Unrecognized tax benefits, end of year | $ 14.1 | $ 11.3 | $ 13.8 |
Related Parties (Details)
Related Parties (Details) - USD ($) $ in Millions | May. 31, 2015 | Sep. 30, 2015 |
HRG [Member] | ||
Related Party Transaction [Line Items] | ||
Minimum ownership percentage | 90.00% | |
HRG [Member] | Maximum [Member] | ||
Related Party Transaction [Line Items] | ||
Ownership percentage by noncontrolling owners | 40.00% | |
Jefferies [Member] | ||
Related Party Transaction [Line Items] | ||
Percentage of subsidiaries beneficially owns of outstanding common stock | 58.00% | |
Jefferies [Member] | One Of The Initial Purchasers For SBI [Member] | ||
Related Party Transaction [Line Items] | ||
Offering amount from related party | $ 1,000 | |
Interest rate, 5.75% Notes | 5.75% | |
Maturity year, 5.75% Notes | 2,025 | |
Discounts, commissions and reimbursements of expenses from related party | $ 2.6 | |
Jefferies [Member] | One Of The Underwriters For The Company [Member] | ||
Related Party Transaction [Line Items] | ||
Offering amount from related party | $ 575 | |
Discounts, commissions and reimbursements of expenses from related party | $ 1.5 | |
Jefferies [Member] | One Of The Financing Institutions That Committed To Back Stop Financing [Member] | ||
Related Party Transaction [Line Items] | ||
Offering amount from related party | 1,500 | |
Fees and reimbursements of expenses from related party | $ 2.1 | |
Jefferies [Member] | Minimum [Member] | HRG [Member] | ||
Related Party Transaction [Line Items] | ||
Percentage of subsidiaries beneficially owns of outstanding common stock | 10.00% |
Share Based Compensation (Narra
Share Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Oct. 21, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock compensation expense | $ 47.6 | $ 46.8 | $ 43.9 | |
2011 Omnibus Equity Award Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common shares issuable, net of cancellations | 5,626 | |||
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 600,000 | 700,000 | 700,000 | |
Stock compensation expense | $ 28.1 | |||
Restricted Stock Units [Member] | Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 100,000 | 300,000 | 100,000 | |
Vesting period | 12 months | 12 months | 1 year | |
Restricted Stock Units [Member] | Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 200,000 | 100,000 | ||
Vesting period | 1 year | 1 year | ||
Performance Based RSUs [Member] | Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 600,000 | |||
Vesting period | 1 year | |||
Performance Based RSUs [Member] | Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 300,000 | 300,000 | ||
Vesting period | 2 years | 2 years | ||
SB/RH Holdings, LLC [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock compensation expense | $ 41.8 | $ 44.9 | $ 43.1 | |
SB/RH Holdings, LLC [Member] | Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted | 500,000 | 600,000 | 700,000 | |
Stock compensation expense | $ 23.2 |
Share Based Compensation (Summa
Share Based Compensation (Summary Of RSU Activity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted, Fair Value | $ (15.4) | $ (25) | $ (20.1) |
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested restricted stock units, Beginning balance, Shares | 0.8 | 1.1 | 1.9 |
Granted, Shares | 0.6 | 0.7 | 0.7 |
Forfeited, Shares | (0.1) | (0.3) | |
Vested, Shares | (0.7) | (1) | (1.2) |
Non-vested restricted stock units, Ending balance, Shares | 0.6 | 0.8 | 1.1 |
Non-vested restricted stock units, Beginning balance, Weighted Average Share Price | $ 67.66 | $ 39.11 | $ 28.45 |
Granted, Weighted Average Share Price | 92.51 | 75.50 | 45.97 |
Forfeited, Weighted Average Share Price | 85.16 | 69.33 | 30.36 |
Vested, Weighted Average Share Price | 69 | 39.69 | 28.25 |
Non-vested restricted stock units, Ending balance, Weighted Average Share Price | $ 87.50 | $ 67.66 | $ 39.11 |
Non-vested restricted stock units, Beginning balance, Fair Value | $ 56 | $ 43.7 | $ 55 |
Granted, Fair Value | 52.9 | 50.5 | 32.1 |
Forfeited, Fair Value | (5.3) | (0.4) | (9.2) |
Vested, Fair Value | (50.4) | (37.8) | (34.2) |
Non-vested restricted stock units, Ending balance, Fair Value | 53.2 | 56 | 43.7 |
SB/RH Holdings, LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted, Fair Value | $ (38.4) | $ (25) | $ (20.1) |
SB/RH Holdings, LLC [Member] | Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Non-vested restricted stock units, Beginning balance, Shares | 0.8 | 1.1 | 1.9 |
Granted, Shares | 0.5 | 0.6 | 0.7 |
Forfeited, Shares | (0.1) | (0.3) | |
Vested, Shares | (0.7) | (0.9) | (1.2) |
Non-vested restricted stock units, Ending balance, Shares | 0.5 | 0.8 | 1.1 |
Non-vested restricted stock units, Beginning balance, Weighted Average Share Price | $ 67.90 | $ 39.12 | $ 28.45 |
Granted, Weighted Average Share Price | 93.12 | 75.82 | 46.18 |
Forfeited, Weighted Average Share Price | 85.16 | 69.33 | 30.36 |
Vested, Weighted Average Share Price | 68.98 | 39.34 | 28.19 |
Non-vested restricted stock units, Ending balance, Weighted Average Share Price | $ 87.71 | $ 67.90 | $ 39.12 |
Non-vested restricted stock units, Beginning balance, Fair Value | $ 54.6 | $ 43.1 | $ 54.9 |
Granted, Fair Value | 42.3 | 48.6 | 31.3 |
Forfeited, Fair Value | (5.3) | (0.4) | (9.1) |
Vested, Fair Value | (49.5) | (36.7) | (34) |
Non-vested restricted stock units, Ending balance, Fair Value | $ 42.1 | $ 54.6 | $ 43.1 |
Accumulated Other Comprehensi99
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive (loss) income, as of | $ (63.1) | $ (38.5) | $ (33.4) |
Other comprehensive (loss) income before reclassification | (114.6) | (26.1) | (0.5) |
Amounts reclassified from accumulated other comprehensive (loss) income | (26.1) | 4 | 0.4 |
Other comprehensive (loss) income | (140.7) | (22.1) | (0.1) |
Deferred tax effect | 9.1 | (1.3) | (5.3) |
Deferred tax valuation allowance | (5.6) | (1.3) | 0.5 |
Other comprehensive (loss) income, net of tax | (137.2) | (24.7) | (4.9) |
Other comprehensive income (loss) attributable to non-controlling interest | (0.2) | (0.1) | 0.2 |
Other comprehensive (loss) income attributable to controlling interest | (137) | (24.6) | (5.1) |
Accumulated other comprehensive (loss) income, as of | (200.1) | (63.1) | (38.5) |
Foreign Currency Translation [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive (loss) income, as of | (39.5) | (7) | (0.2) |
Other comprehensive (loss) income before reclassification | $ (113) | (32.6) | (6.6) |
Amounts reclassified from accumulated other comprehensive (loss) income | |||
Other comprehensive (loss) income | $ (113) | (32.6) | (6.6) |
Other comprehensive (loss) income, net of tax | (113) | (32.6) | (6.6) |
Other comprehensive income (loss) attributable to non-controlling interest | (0.2) | (0.1) | 0.2 |
Other comprehensive (loss) income attributable to controlling interest | (112.8) | (32.5) | (6.8) |
Accumulated other comprehensive (loss) income, as of | (152.3) | (39.5) | (7) |
Derivative Hedging [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive (loss) income, as of | 9.2 | (2.3) | 0.2 |
Other comprehensive (loss) income before reclassification | 11.3 | 13.1 | (2) |
Amounts reclassified from accumulated other comprehensive (loss) income | (27.5) | 2.6 | (0.9) |
Other comprehensive (loss) income | (16.2) | 15.7 | (2.9) |
Deferred tax effect | 5.2 | $ (4.2) | (0.2) |
Deferred tax valuation allowance | (2.2) | 0.6 | |
Other comprehensive (loss) income, net of tax | $ (13.2) | $ 11.5 | $ (2.5) |
Other comprehensive income (loss) attributable to non-controlling interest | |||
Other comprehensive (loss) income attributable to controlling interest | $ (13.2) | $ 11.5 | $ (2.5) |
Accumulated other comprehensive (loss) income, as of | (4) | 9.2 | (2.3) |
Employee Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive (loss) income, as of | (32.8) | (29.2) | (33.4) |
Other comprehensive (loss) income before reclassification | (12.9) | (6.6) | 8.1 |
Amounts reclassified from accumulated other comprehensive (loss) income | 1.4 | 1.4 | 1.3 |
Other comprehensive (loss) income | (11.5) | (5.2) | 9.4 |
Deferred tax effect | 3.9 | 2.9 | (5.1) |
Deferred tax valuation allowance | (3.4) | (1.3) | (0.1) |
Other comprehensive (loss) income, net of tax | $ (11) | $ (3.6) | 4.2 |
Other comprehensive income (loss) attributable to non-controlling interest | |||
Other comprehensive (loss) income attributable to controlling interest | $ (11) | $ (3.6) | 4.2 |
Accumulated other comprehensive (loss) income, as of | $ (43.8) | $ (32.8) | $ (29.2) |
Commitments And Contingencies (
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Commitments And Contingencies [Abstract] | ||
Estimated costs associated with environmental remediation activities | $ 4.4 | $ 4.6 |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 12 Months Ended |
Sep. 30, 2015segment | |
Segment Information [Abstract] | |
Number of reporting segments | 5 |
Segment Information (Net Sales
Segment Information (Net Sales Relating To Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenue from External Customer [Line Items] | |||
Net sales | $ 4,690.4 | $ 4,429.1 | $ 4,085.6 |
SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 4,690.4 | 4,429.1 | 4,085.6 |
Global Batteries & Appliances [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 2,092.2 | 2,230.7 | 2,203.6 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 2,092.2 | 2,230.7 | 2,203.6 |
Hardware & Home Improvement [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 1,205.5 | 1,166 | 869.6 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 1,205.5 | 1,166 | 869.6 |
Global Pet Supplies [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 758.2 | 600.5 | 621.9 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 758.2 | 600.5 | 621.9 |
Home & Garden [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 474 | 431.9 | 390.5 |
Home & Garden [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 474 | $ 431.9 | 390.5 |
Global Auto Care [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 160.5 | ||
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 160.5 | ||
Consumer Batteries [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 829.5 | $ 957.8 | 931.6 |
Consumer Batteries [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 829.5 | 957.8 | 931.6 |
Small Appliances [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 734.6 | 730.8 | 740.3 |
Small Appliances [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 734.6 | 730.8 | 740.3 |
Personal Care [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 528.1 | 542.1 | 531.7 |
Personal Care [Member] | SB/RH Holdings, LLC [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | $ 528.1 | $ 542.1 | $ 531.7 |
Segment Information (Segment Pr
Segment Information (Segment Profit Relating To Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Acquisition and integration related charges | $ 58.8 | $ 20.1 | $ 48.4 |
Restructuring and related charges | 28.7 | 22.9 | 34 |
Interest expense | 271.9 | 202.1 | 375.6 |
Other non-operating expense, net | 8.9 | 6.3 | 3.5 |
Income (loss) from operations before income taxes | 193.3 | 273.5 | (27.9) |
SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Acquisition and integration related charges | 58.8 | 20.1 | 48.4 |
Restructuring and related charges | 28.7 | 22.9 | 34 |
Interest expense | 271.9 | 202.1 | 369.5 |
Other non-operating expense, net | 8.9 | 6.3 | 3.5 |
Income (loss) from operations before income taxes | 199.7 | 276.1 | (20.1) |
Total Segments [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 642.9 | 600.4 | 495.8 |
Total Segments [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 642.9 | 600.4 | 495.8 |
Corporate [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 81.3 | 75.5 | 62.2 |
Corporate [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 74.9 | 72.9 | 60.5 |
Global Batteries & Appliances [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 240.8 | 256.5 | 237.5 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 240.8 | 256.5 | 237.5 |
Hardware & Home Improvement [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 185.2 | 172.2 | 88.7 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 185.2 | 172.2 | 88.7 |
Global Pet Supplies [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 83.9 | 82.4 | 91.1 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 83.9 | 82.4 | 91.1 |
Home & Garden [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 111.2 | 89.3 | 78.5 |
Home & Garden [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 111.2 | $ 89.3 | $ 78.5 |
Global Auto Care [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | 21.8 | ||
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (loss) from operations before income taxes | $ 21.8 |
Segment Information (Depreciati
Segment Information (Depreciation And Amortization Relating To Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | $ 170 | $ 157.6 | $ 139.9 |
SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 170 | 157.6 | 139.9 |
Global Batteries & Appliances [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 71 | 73.1 | 67.2 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 71 | 73.1 | 67.2 |
Hardware & Home Improvement [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 39.4 | 40.4 | 31.4 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 39.4 | 40.4 | 31.4 |
Global Pet Supplies [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 39.7 | 31.5 | 29.6 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 39.7 | 31.5 | 29.6 |
Home & Garden [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 13.3 | 12.6 | 11.7 |
Home & Garden [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 13.3 | 12.6 | 11.7 |
Global Auto Care [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 6.6 | ||
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 6.6 | ||
Total Segments [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | 170 | 157.6 | 139.9 |
Total Segments [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total depreciation and amortization | $ 170 | $ 157.6 | $ 139.9 |
Segment Information (Capital Ex
Segment Information (Capital Expenditures Relating To Segments) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | $ 89.1 | $ 73.3 | $ 82 |
SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 89.1 | 73.3 | 82 |
Global Batteries & Appliances [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 48.9 | 40.3 | 47.9 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 48.9 | 40.3 | 47.9 |
Hardware & Home Improvement [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 16.3 | 21.2 | 23.4 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 16.3 | 21.2 | 23.4 |
Global Pet Supplies [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 10.4 | 5.3 | 8.3 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 10.4 | 5.3 | 8.3 |
Home & Garden [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 12.3 | 6.5 | 2.4 |
Home & Garden [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 12.3 | 6.5 | 2.4 |
Global Auto Care [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 1.2 | ||
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 1.2 | ||
Total Segments [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | 89.1 | 73.3 | 82 |
Total Segments [Member] | SB/RH Holdings, LLC [Member] | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Total capital expenditures | $ 89.1 | $ 73.3 | $ 82 |
Segment Information (Segment To
Segment Information (Segment Total Assets Relating To Segments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | $ 7,298 | $ 5,513 |
SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 7,297.9 | 5,511.3 |
Global Batteries & Appliances [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 2,080.4 | 2,152 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 2,080.4 | 2,152 |
Hardware & Home Improvement [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,619.9 | 1,629 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,619.9 | 1,629 |
Global Pet Supplies [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,125.2 | 890.4 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,125.2 | 890.4 |
Home & Garden [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 530.9 | 526.6 |
Home & Garden [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 530.9 | 526.6 |
Global Auto Care [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,543.1 | |
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,543.1 | |
Total Segments [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 6,899.5 | 5,198 |
Total Segments [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 6,899.5 | 5,198 |
Corporate [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 398.5 | 315 |
Corporate [Member] | SB/RH Holdings, LLC [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | $ 398.4 | $ 313.3 |
Segment Information (Net Sal107
Segment Information (Net Sales By Geographic Area) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | $ 4,690.4 | $ 4,429.1 | $ 4,085.6 |
United States [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 2,907.9 | 2,640.7 | 2,404.4 |
Europe/MEA [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 1,049.8 | 970.4 | 910 |
Latin America [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 381.5 | 414.3 | 389.7 |
North America - Other [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 164 | 196 | 192.3 |
Asia-Pacific [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 187.2 | 207.7 | 189.2 |
SB/RH Holdings, LLC [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 4,690.4 | 4,429.1 | 4,085.6 |
SB/RH Holdings, LLC [Member] | United States [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 2,907.9 | 2,640.7 | 2,404.4 |
SB/RH Holdings, LLC [Member] | Europe/MEA [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 1,049.8 | 970.4 | 910 |
SB/RH Holdings, LLC [Member] | Latin America [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 381.5 | 414.3 | 389.7 |
SB/RH Holdings, LLC [Member] | North America - Other [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 164 | 196 | 192.3 |
SB/RH Holdings, LLC [Member] | Asia-Pacific [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | $ 187.2 | $ 207.7 | $ 189.2 |
Segment Information (Long-Lived
Segment Information (Long-Lived Assets By Geographic Area) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 507.1 | $ 428.9 |
United States [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 311.1 | 269.1 |
Europe/MEA [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 139.2 | 92 |
Latin America [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 14.6 | 23.6 |
North America - Other [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 2.4 | 3.9 |
Asia-Pacific [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 39.8 | 40.3 |
SB/RH Holdings, LLC [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 507.1 | 428.9 |
SB/RH Holdings, LLC [Member] | United States [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 311.1 | 269.1 |
SB/RH Holdings, LLC [Member] | Europe/MEA [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 139.2 | 92 |
SB/RH Holdings, LLC [Member] | Latin America [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 14.6 | 23.6 |
SB/RH Holdings, LLC [Member] | North America - Other [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | 2.4 | 3.9 |
SB/RH Holdings, LLC [Member] | Asia-Pacific [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets | $ 39.8 | $ 40.3 |
Earnings Per Share - SBH (Detai
Earnings Per Share - SBH (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Net income (loss) attributable to controlling interest | $ 148.9 | $ 214.1 | $ (55.2) | ||||||||
Weighted average common shares outstanding - basic | 55.6 | 52.6 | 52 | ||||||||
Dilutive shares | 0.3 | 0.7 | |||||||||
Weighted average common shares outstanding - diluted | 55.9 | 53.3 | 52 | ||||||||
Basic earnings (loss) per share | $ 0.44 | $ 0.79 | $ 0.52 | $ 0.94 | $ 0.91 | $ 1.48 | $ 0.64 | $ 1.04 | $ 2.68 | $ 4.07 | $ (1.06) |
Diluted earnings (loss) per share | $ 0.44 | $ 0.79 | $ 0.52 | $ 0.94 | $ 0.90 | $ 1.47 | $ 0.64 | $ 1.03 | $ 2.66 | $ 4.02 | $ (1.06) |
Restricted Stock Units [Member] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Weighted average number of anti-dilutive shares excluded from denominator | 0.1 | 0.1 | 1.1 |
Guarantor Statements - SB_RH (S
Guarantor Statements - SB/RH (Statement Of Financial Position) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Current assets: | ||||
Cash and cash equivalents | $ 247.9 | $ 194.6 | $ 207.2 | $ 158 |
Trade receivables, net | 498.8 | 439 | ||
Other receivables | 87.9 | 76.3 | ||
Inventories | 780.8 | 624.5 | ||
Prepaid expenses and other current assets | 116.8 | 100.2 | ||
Total current assets | 1,732.2 | 1,434.6 | ||
Property, plant and equipment, net | 507.1 | 428.9 | ||
Deferred charges and other | 101.7 | 88.4 | ||
Goodwill | 2,476.7 | 1,469.6 | 1,476.7 | |
Intangible assets, net | 2,480.3 | 2,091.5 | ||
Total assets | 7,298 | 5,513 | ||
Liabilities and Shareholders’ Equity | ||||
Current portion of long-term debt | 33.8 | 96.7 | ||
Accounts payable | 620.6 | 519.7 | ||
Accrued wages and salaries | 96.5 | 88.1 | ||
Accrued interest | 63.3 | 35.4 | ||
Other current liabilities | 217.3 | 175.8 | ||
Total current liabilities | 1,031.5 | 915.7 | ||
Long-term debt, net current portion | 3,937.2 | 2,894.1 | ||
Deferred income taxes | 607 | 513.2 | ||
Other long-term liabilities | 115.5 | 103.2 | ||
Total liabilities | 5,691.2 | 4,426.2 | ||
Shareholder's equity: | ||||
Accumulated (deficit) earnings | (205.5) | (283.1) | ||
Accumulated other comprehensive (loss) income | (200.1) | (63.1) | (38.5) | (33.4) |
Total shareholder's equity | 1,563.1 | 1,043.4 | ||
Noncontrolling interest | 43.7 | 43.4 | ||
Total equity | 1,606.8 | 1,086.8 | 940.1 | 989.1 |
Total liabilities and shareholder's equity | 7,298 | 5,513 | ||
SB/RH Holdings, LLC [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 247.9 | 192.9 | 198.2 | 157.8 |
Trade receivables, net | 498.8 | 439 | ||
Other receivables | 87.9 | 76.3 | ||
Inventories | 780.8 | 624.5 | ||
Prepaid expenses and other current assets | 116.8 | 100.2 | ||
Total current assets | 1,732.2 | 1,432.9 | ||
Property, plant and equipment, net | 507.1 | 428.9 | ||
Deferred charges and other | 101.6 | 88.4 | ||
Goodwill | 2,476.7 | 1,469.6 | ||
Intangible assets, net | 2,480.3 | 2,091.5 | ||
Total assets | 7,297.9 | 5,511.3 | ||
Liabilities and Shareholders’ Equity | ||||
Current portion of long-term debt | 68.5 | 112.6 | ||
Accounts payable | 620.6 | 519.7 | ||
Accrued wages and salaries | 96.5 | 88.1 | ||
Accrued interest | 63.3 | 35.4 | ||
Other current liabilities | 216.5 | 174.8 | ||
Total current liabilities | 1,065.4 | 930.6 | ||
Long-term debt, net current portion | 3,937.2 | 2,894.1 | ||
Deferred income taxes | 607 | 513.2 | ||
Other long-term liabilities | 115.5 | 103.2 | ||
Total liabilities | 5,725.1 | 4,441.1 | ||
Shareholder's equity: | ||||
Other equity | 1,969.9 | 1,413.8 | ||
Accumulated (deficit) earnings | (246.7) | (330) | ||
Accumulated other comprehensive (loss) income | (200.1) | (63.1) | ||
Total shareholder's equity | 1,523.1 | 1,020.7 | ||
Noncontrolling interest | 49.7 | 49.5 | ||
Total equity | 1,572.8 | 1,070.2 | 933.9 | 992.7 |
Total liabilities and shareholder's equity | 7,297.9 | 5,511.3 | ||
SB/RH Holdings, LLC [Member] | Parent [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 13 | 4.8 | 3.9 | 6.7 |
Trade receivables, net | 175.8 | 48.3 | ||
Intercompany receivables | 152 | 106.9 | ||
Other receivables | 14.3 | 2.3 | ||
Inventories | 410.3 | 77.7 | ||
Prepaid expenses and other current assets | 57.9 | 9.1 | ||
Total current assets | 823.3 | 249.1 | ||
Property, plant and equipment, net | 235.2 | 137.7 | ||
Long-term intercompany receivables | 2.8 | 0.7 | ||
Deferred charges and other | 237.2 | 173 | ||
Goodwill | 910.7 | 67.7 | ||
Intangible assets, net | 1,402.4 | 494.1 | ||
Investments in subsidiaries | 3,150.1 | 4,076.3 | ||
Total assets | 6,761.7 | 5,198.6 | ||
Liabilities and Shareholders’ Equity | ||||
Current portion of long-term debt | 53.4 | 75.2 | ||
Accounts payable | 281.1 | 76 | ||
Intercompany accounts payable | 449.4 | 1,366 | ||
Accrued wages and salaries | 40.3 | 25.6 | ||
Accrued interest | 63.2 | 35 | ||
Other current liabilities | 84.5 | 22.7 | ||
Total current liabilities | 971.9 | 1,600.5 | ||
Long-term debt, net current portion | 3,913.9 | 2,539.2 | ||
Long-term intercompany debt | 16.8 | 16.3 | ||
Deferred income taxes | 241.2 | (52.3) | ||
Other long-term liabilities | 33.3 | 19 | ||
Total liabilities | 5,177.1 | 4,122.7 | ||
Shareholder's equity: | ||||
Other equity | 1,981.7 | 1,419.5 | ||
Accumulated (deficit) earnings | (246.7) | (330) | ||
Accumulated other comprehensive (loss) income | (200.2) | (63.1) | ||
Total shareholder's equity | 1,534.8 | 1,026.4 | ||
Noncontrolling interest | 49.8 | 49.5 | ||
Total equity | 1,584.6 | 1,075.9 | ||
Total liabilities and shareholder's equity | 6,761.7 | 5,198.6 | ||
SB/RH Holdings, LLC [Member] | Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 8.6 | 11.2 | 5.4 | 13.3 |
Trade receivables, net | 94.9 | 157.6 | ||
Intercompany receivables | 713.8 | 937.3 | ||
Other receivables | 11.2 | 8.3 | ||
Inventories | 95.7 | 313 | ||
Prepaid expenses and other current assets | 15.7 | 48.7 | ||
Total current assets | 939.9 | 1,476.1 | ||
Property, plant and equipment, net | 60.7 | 115.3 | ||
Long-term intercompany receivables | 357.7 | 107.3 | ||
Deferred charges and other | 0.6 | (118) | ||
Goodwill | 1,154 | 1,030.7 | ||
Intangible assets, net | 646.6 | 1,151.7 | ||
Investments in subsidiaries | 1,095.9 | 1,278.9 | ||
Total assets | 4,255.4 | 5,042 | ||
Liabilities and Shareholders’ Equity | ||||
Current portion of long-term debt | 6.9 | |||
Accounts payable | 45.9 | 202.5 | ||
Intercompany accounts payable | 829.9 | |||
Accrued wages and salaries | 10 | 19.5 | ||
Other current liabilities | 21.8 | 52.9 | ||
Total current liabilities | 77.7 | 1,111.7 | ||
Long-term debt, net current portion | 8.9 | |||
Long-term intercompany debt | 578.7 | (617.9) | ||
Deferred income taxes | 440.2 | 462.2 | ||
Other long-term liabilities | 8.8 | 0.8 | ||
Total liabilities | 1,105.4 | 965.7 | ||
Shareholder's equity: | ||||
Other equity | 1,129.2 | 3,297 | ||
Accumulated (deficit) earnings | 2,139.8 | 775.4 | ||
Accumulated other comprehensive (loss) income | (175.1) | (51) | ||
Total shareholder's equity | 3,093.9 | 4,021.4 | ||
Noncontrolling interest | 56.1 | 54.9 | ||
Total equity | 3,150 | 4,076.3 | ||
Total liabilities and shareholder's equity | 4,255.4 | 5,042 | ||
SB/RH Holdings, LLC [Member] | Non-Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 226.3 | 176.9 | $ 188.9 | $ 137.8 |
Trade receivables, net | 228.1 | 233.1 | ||
Intercompany receivables | 225 | 587 | ||
Other receivables | 62.4 | 65.7 | ||
Inventories | 291.8 | 240.4 | ||
Prepaid expenses and other current assets | 40.5 | 41 | ||
Total current assets | 1,074.1 | 1,344.1 | ||
Property, plant and equipment, net | 211.2 | 175.9 | ||
Long-term intercompany receivables | 15.4 | 41.6 | ||
Deferred charges and other | 27.8 | 33.4 | ||
Goodwill | 412 | 371.2 | ||
Intangible assets, net | 431.3 | 445.7 | ||
Investments in subsidiaries | (2.9) | 0.4 | ||
Total assets | 2,168.9 | 2,412.3 | ||
Liabilities and Shareholders’ Equity | ||||
Current portion of long-term debt | 15.1 | 30.5 | ||
Accounts payable | 293.6 | 241.2 | ||
Intercompany accounts payable | 28.5 | 81.2 | ||
Accrued wages and salaries | 46.2 | 43 | ||
Accrued interest | 0.1 | 0.4 | ||
Other current liabilities | 110.6 | 99.2 | ||
Total current liabilities | 494.1 | 495.5 | ||
Long-term debt, net current portion | 23.3 | 346 | ||
Long-term intercompany debt | 392.6 | 105.2 | ||
Deferred income taxes | 89.6 | 103.3 | ||
Other long-term liabilities | 73.4 | 83.4 | ||
Total liabilities | 1,073 | 1,133.4 | ||
Shareholder's equity: | ||||
Other equity | 34.7 | 1,284.8 | ||
Accumulated (deficit) earnings | 1,176.1 | (13.8) | ||
Accumulated other comprehensive (loss) income | (171) | (47) | ||
Total shareholder's equity | 1,039.8 | 1,224 | ||
Noncontrolling interest | 56.1 | 54.9 | ||
Total equity | 1,095.9 | 1,278.9 | ||
Total liabilities and shareholder's equity | 2,168.9 | 2,412.3 | ||
SB/RH Holdings, LLC [Member] | Eliminations [Member] | ||||
Current assets: | ||||
Intercompany receivables | (1,090.8) | (1,631.2) | ||
Inventories | (17) | (6.6) | ||
Prepaid expenses and other current assets | 2.7 | 1.4 | ||
Total current assets | (1,105.1) | (1,636.4) | ||
Long-term intercompany receivables | (375.9) | (149.6) | ||
Deferred charges and other | (164) | |||
Investments in subsidiaries | (4,243.1) | (5,355.6) | ||
Total assets | (5,888.1) | (7,141.6) | ||
Liabilities and Shareholders’ Equity | ||||
Intercompany accounts payable | (477.9) | (2,277.1) | ||
Other current liabilities | (0.4) | |||
Total current liabilities | (478.3) | (2,277.1) | ||
Long-term intercompany debt | (988.1) | 496.4 | ||
Deferred income taxes | (164) | |||
Total liabilities | (1,630.4) | (1,780.7) | ||
Shareholder's equity: | ||||
Other equity | (1,175.7) | (4,587.5) | ||
Accumulated (deficit) earnings | (3,315.9) | (761.6) | ||
Accumulated other comprehensive (loss) income | 346.2 | 98 | ||
Total shareholder's equity | (4,145.4) | (5,251.1) | ||
Noncontrolling interest | (112.3) | (109.8) | ||
Total equity | (4,257.7) | (5,360.9) | ||
Total liabilities and shareholder's equity | $ (5,888.1) | $ (7,141.6) |
Guarantor Statements - SB_RH111
Guarantor Statements - SB/RH (Statement Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | $ 4,690.4 | $ 4,429.1 | $ 4,085.6 | ||||||||
Cost of Goods Sold | 3,018 | 2,856.5 | 2,685.3 | ||||||||
Restructuring and related charges | 28.7 | 22.9 | 34 | ||||||||
Gross profit | $ 467.4 | $ 458 | $ 374.7 | $ 370.2 | $ 411 | $ 417.1 | $ 359.6 | $ 381.2 | 1,670.3 | 1,568.9 | 1,390.3 |
Selling | 720.7 | 678.2 | 637 | ||||||||
General and administrative | 338.8 | 321.6 | 286.4 | ||||||||
Research and development | 51.3 | 47.9 | 43.3 | ||||||||
Acquisition and integration related charges | 58.8 | 20.1 | 48.4 | ||||||||
Total operating expenses | 1,196.2 | 1,087 | 1,039.1 | ||||||||
Operating income (loss) | 474.1 | 481.9 | 351.2 | ||||||||
Interest expense | 271.9 | 202.1 | 375.6 | ||||||||
Other non-operating (income) expense, net | 8.9 | 6.3 | 3.5 | ||||||||
Income (loss) from operations before income taxes | 193.3 | 273.5 | (27.9) | ||||||||
Income tax expense (benefit) | 43.9 | 59 | 27.4 | ||||||||
Net income (loss) | 26.4 | 44.9 | 27.8 | 49.8 | 47.9 | 78.1 | 33.8 | 54.3 | 149.4 | 214.5 | (55.3) |
Net income (loss) attributable to non-controlling interest | 0.5 | 0.4 | (0.1) | ||||||||
Net income (loss) attributable to controlling interest | 148.9 | 214.1 | (55.2) | ||||||||
Cost Of Goods Sold [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 2.1 | 3.7 | 10 | ||||||||
Operating Expenses [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 26.6 | 19.2 | 24 | ||||||||
SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | 4,690.4 | 4,429.1 | 4,085.6 | ||||||||
Cost of Goods Sold | 3,018 | 2,856.5 | 2,685.3 | ||||||||
Restructuring and related charges | 28.7 | 22.9 | 34 | ||||||||
Gross profit | 467.4 | 458 | 374.7 | 370.2 | 411 | 417.1 | 359.6 | 381.2 | 1,670.3 | 1,568.9 | 1,390.3 |
Selling | 720.7 | 678.2 | 637 | ||||||||
General and administrative | 332.4 | 319 | 284.7 | ||||||||
Research and development | 51.3 | 47.9 | 43.3 | ||||||||
Acquisition and integration related charges | 58.8 | 20.1 | 48.4 | ||||||||
Total operating expenses | 1,189.8 | 1,084.4 | 1,037.4 | ||||||||
Operating income (loss) | 480.5 | 484.5 | 352.9 | ||||||||
Interest expense | 271.9 | 202.1 | 369.5 | ||||||||
Other non-operating (income) expense, net | 8.9 | 6.3 | 3.5 | ||||||||
Income (loss) from operations before income taxes | 199.7 | 276.1 | (20.1) | ||||||||
Income tax expense (benefit) | 43.9 | 59 | 27.4 | ||||||||
Net income (loss) | $ 28.4 | $ 46.6 | $ 29.6 | $ 50.8 | $ 48.5 | $ 78.6 | $ 34.9 | $ 54.8 | 155.8 | 217.1 | (47.5) |
Net income (loss) attributable to non-controlling interest | 0.4 | 0.3 | (0.1) | ||||||||
Net income (loss) attributable to controlling interest | 155.4 | 216.8 | (47.4) | ||||||||
SB/RH Holdings, LLC [Member] | Cost Of Goods Sold [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 2.1 | 3.7 | 10 | ||||||||
SB/RH Holdings, LLC [Member] | Operating Expenses [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 26.6 | 19.2 | 24 | ||||||||
Parent [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | 2,385.1 | 626.7 | 638.7 | ||||||||
Cost of Goods Sold | 1,657 | 447.7 | 463.9 | ||||||||
Gross profit | 728.1 | 179 | 174.8 | ||||||||
Selling | 291.4 | 76.6 | 73.4 | ||||||||
General and administrative | 218.8 | 60.5 | 74.1 | ||||||||
Research and development | 33.4 | 22.3 | 17.7 | ||||||||
Acquisition and integration related charges | 40.8 | 11.7 | 35.2 | ||||||||
Total operating expenses | 618.4 | 179.5 | 204.7 | ||||||||
Operating income (loss) | 109.7 | (0.5) | (29.9) | ||||||||
Interest expense | 235.4 | 172.2 | 346.6 | ||||||||
Other non-operating (income) expense, net | (207.1) | (213.8) | (248.6) | ||||||||
Income (loss) from operations before income taxes | 81.4 | 41.1 | (127.9) | ||||||||
Income tax expense (benefit) | (74.4) | (176) | (80.4) | ||||||||
Net income (loss) | 155.8 | 217.1 | (47.5) | ||||||||
Net income (loss) attributable to non-controlling interest | 0.4 | 0.3 | (0.1) | ||||||||
Net income (loss) attributable to controlling interest | 155.4 | 216.8 | (47.4) | ||||||||
Parent [Member] | SB/RH Holdings, LLC [Member] | Operating Expenses [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 34 | 8.4 | 4.3 | ||||||||
Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | 759.6 | 2,141.3 | 1,178.2 | ||||||||
Cost of Goods Sold | 492.4 | 1,434.4 | 799.9 | ||||||||
Gross profit | 267.2 | 704.3 | 375.9 | ||||||||
Selling | 89.5 | 268.5 | 143.8 | ||||||||
General and administrative | 40.4 | 168.9 | 85.1 | ||||||||
Research and development | 3.3 | 12 | 10.1 | ||||||||
Acquisition and integration related charges | 5.7 | 8.3 | 4.7 | ||||||||
Total operating expenses | 139.5 | 461.7 | 254.7 | ||||||||
Operating income (loss) | 127.7 | 242.6 | 121.2 | ||||||||
Interest expense | 6.9 | (0.1) | 2.9 | ||||||||
Other non-operating (income) expense, net | (151.5) | (163.7) | (180.8) | ||||||||
Income (loss) from operations before income taxes | 272.3 | 406.4 | 299.1 | ||||||||
Income tax expense (benefit) | 66.3 | 194.6 | 47 | ||||||||
Net income (loss) | 206 | 211.8 | 252.1 | ||||||||
Net income (loss) attributable to non-controlling interest | 0.9 | 0.3 | (0.1) | ||||||||
Net income (loss) attributable to controlling interest | 205.1 | 211.5 | 252.2 | ||||||||
Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | Cost Of Goods Sold [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 2.6 | 2.4 | |||||||||
Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | Operating Expenses [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 0.6 | 4 | 11 | ||||||||
Non-Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | 2,534 | 2,449.4 | 3,123.3 | ||||||||
Cost of Goods Sold | 1,845.5 | 1,762.7 | 2,274.5 | ||||||||
Gross profit | 686.4 | 685.6 | 841.2 | ||||||||
Selling | 340.8 | 333.8 | 420.7 | ||||||||
General and administrative | 73.2 | 89.6 | 125.5 | ||||||||
Research and development | 14.6 | 13.6 | 15.5 | ||||||||
Acquisition and integration related charges | 12.3 | 0.1 | 8.5 | ||||||||
Total operating expenses | 432.9 | 443.9 | 578.9 | ||||||||
Operating income (loss) | 253.5 | 241.7 | 262.3 | ||||||||
Interest expense | 29.6 | 30 | 20 | ||||||||
Other non-operating (income) expense, net | 4.8 | 3.9 | 7.8 | ||||||||
Income (loss) from operations before income taxes | 219.1 | 207.8 | 234.5 | ||||||||
Income tax expense (benefit) | 52.9 | 40.1 | 60.9 | ||||||||
Net income (loss) | 166.2 | 167.7 | 173.6 | ||||||||
Net income (loss) attributable to non-controlling interest | 0.9 | 0.3 | (0.1) | ||||||||
Net income (loss) attributable to controlling interest | 165.3 | 167.4 | 173.7 | ||||||||
Non-Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | Cost Of Goods Sold [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | 2.1 | 1.1 | 7.6 | ||||||||
Non-Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | Operating Expenses [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Restructuring and related charges | (8) | 6.8 | 8.7 | ||||||||
Eliminations [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | (988.3) | (788.3) | (854.6) | ||||||||
Cost of Goods Sold | (976.9) | (788.3) | (853) | ||||||||
Gross profit | (11.4) | (1.6) | |||||||||
Selling | (1) | (0.7) | (0.9) | ||||||||
Total operating expenses | (1) | (0.7) | (0.9) | ||||||||
Operating income (loss) | (10.4) | 0.7 | (0.7) | ||||||||
Other non-operating (income) expense, net | 362.7 | 379.9 | 425.1 | ||||||||
Income (loss) from operations before income taxes | (373.1) | (379.2) | (425.8) | ||||||||
Income tax expense (benefit) | (0.9) | 0.3 | (0.1) | ||||||||
Net income (loss) | (372.2) | (379.5) | (425.7) | ||||||||
Net income (loss) attributable to non-controlling interest | (1.8) | (0.6) | 0.2 | ||||||||
Net income (loss) attributable to controlling interest | $ (370.4) | $ (378.9) | $ (425.9) |
Guarantor Statements - SB_RH112
Guarantor Statements - SB/RH (Statement Of Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | $ 26.4 | $ 44.9 | $ 27.8 | $ 49.8 | $ 47.9 | $ 78.1 | $ 33.8 | $ 54.3 | $ 149.4 | $ 214.5 | $ (55.3) |
Foreign currency translation gain (loss) | (113) | (32.6) | (6.6) | ||||||||
Unrealized gain (loss) on derivative instruments | (13.2) | 11.5 | (2.5) | ||||||||
Defined benefit pension gain (loss) | (11) | (3.6) | 4.2 | ||||||||
Other comprehensive income (loss), net of tax | (137.2) | (24.7) | (4.9) | ||||||||
Comprehensive income (loss) | 12.2 | 189.8 | (60.2) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.4 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 12.4 | 189.4 | (60.3) | ||||||||
SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | $ 28.4 | $ 46.6 | $ 29.6 | $ 50.8 | $ 48.5 | $ 78.6 | $ 34.9 | $ 54.8 | 155.8 | 217.1 | (47.5) |
Foreign currency translation gain (loss) | (113) | (32.5) | (6.6) | ||||||||
Unrealized gain (loss) on derivative instruments | (13.2) | 11.5 | (2.5) | ||||||||
Defined benefit pension gain (loss) | (11) | (3.6) | 4.2 | ||||||||
Other comprehensive income (loss), net of tax | (137.2) | (24.6) | (4.9) | ||||||||
Comprehensive income (loss) | 18.6 | 192.5 | (52.4) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.4 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 18.8 | 192.1 | (52.5) | ||||||||
Parent [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | 155.8 | 217.1 | (47.5) | ||||||||
Foreign currency translation gain (loss) | (112.8) | (32.5) | (6.6) | ||||||||
Unrealized gain (loss) on derivative instruments | (13.2) | 11.5 | (2.5) | ||||||||
Defined benefit pension gain (loss) | (11) | (3.6) | 4.2 | ||||||||
Other comprehensive income (loss), net of tax | (137) | (24.6) | (4.9) | ||||||||
Comprehensive income (loss) | 18.8 | 192.5 | (52.4) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.4 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 19 | 192.1 | (52.5) | ||||||||
Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | 206 | 211.8 | 252.1 | ||||||||
Foreign currency translation gain (loss) | (113.7) | (32.7) | (6.3) | ||||||||
Unrealized gain (loss) on derivative instruments | (7.9) | 11.4 | (1.4) | ||||||||
Defined benefit pension gain (loss) | (2.2) | (0.1) | (3.9) | ||||||||
Other comprehensive income (loss), net of tax | (123.8) | (21.4) | (11.6) | ||||||||
Comprehensive income (loss) | 82.2 | 190.4 | 240.5 | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.3 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 82.4 | 190.1 | 240.4 | ||||||||
Non-Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | 166.2 | 167.7 | 173.6 | ||||||||
Foreign currency translation gain (loss) | (113.7) | (33.6) | (5.8) | ||||||||
Unrealized gain (loss) on derivative instruments | (7.9) | 11.7 | (1.4) | ||||||||
Defined benefit pension gain (loss) | (2.2) | (0.1) | (3.9) | ||||||||
Other comprehensive income (loss), net of tax | (123.8) | (22) | (11.1) | ||||||||
Comprehensive income (loss) | 42.4 | 145.7 | 162.5 | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | (0.2) | 0.3 | 0.1 | ||||||||
Comprehensive income (loss) attributable to controlling interest | 42.6 | 145.4 | 162.4 | ||||||||
Eliminations [Member] | SB/RH Holdings, LLC [Member] | |||||||||||
Condensed Statement of Income Captions [Line Items] | |||||||||||
Net income (loss) | (372.2) | (379.5) | (425.7) | ||||||||
Foreign currency translation gain (loss) | 227.2 | 66.3 | 12.1 | ||||||||
Unrealized gain (loss) on derivative instruments | 15.8 | (23.1) | 2.8 | ||||||||
Defined benefit pension gain (loss) | 4.4 | 0.2 | 7.8 | ||||||||
Other comprehensive income (loss), net of tax | 247.4 | 43.4 | 22.7 | ||||||||
Comprehensive income (loss) | (124.8) | (336.1) | (403) | ||||||||
Comprehensive (loss) income attributable to non-controlling interest | 0.4 | (0.6) | (0.2) | ||||||||
Comprehensive income (loss) attributable to controlling interest | $ (125.2) | $ (335.5) | $ (402.8) |
Guarantor Statements - SB_RH113
Guarantor Statements - SB/RH (Statement Of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | $ 444.3 | $ 432.7 | $ 256.5 |
Purchases of property, plant and equipment | (89.1) | (73.3) | (82) |
Business acquisitions, net of cash acquired | (1,191.1) | (27.6) | (1,399.8) |
Proceeds from sales of property, plant and equipment | 1.4 | 9.2 | 0.2 |
Other investing activities | (0.9) | (1.8) | (1.4) |
Net cash used by investing activities | (1,279.7) | (93.5) | (1,483) |
Proceeds from issuance of debt | 3,281.4 | 524.2 | 3,038.2 |
Payment of debt | (2,793.1) | (770.9) | (1,633.7) |
Payment of debt issuance costs | (38.1) | (5.4) | (60.9) |
Payment of cash dividends to parent | (70.7) | (61.9) | (40.1) |
Share based award tax withholding payments | (2.6) | (25) | (20.1) |
Net cash provided (used) by financing activities | 918.4 | (343.5) | 1,280.2 |
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | (2.5) | (1.9) | |
Effect of exchange rate changes on cash and cash equivalents | (27.2) | (8.3) | (2.6) |
Net increase (decrease) in cash and cash equivalents | 53.3 | (12.6) | 49.2 |
Cash and cash equivalents, beginning of period | 194.6 | 207.2 | 158 |
Cash and cash equivalents, end of period | 247.9 | 194.6 | 207.2 |
SB/RH Holdings, LLC [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | 441.8 | 434.7 | 258.2 |
Purchases of property, plant and equipment | (89.1) | (73.3) | (82) |
Business acquisitions, net of cash acquired | (1,191.1) | (27.6) | (1,393.6) |
Proceeds from sales of property, plant and equipment | 1.4 | 9.2 | 0.2 |
Other investing activities | (0.9) | (1.8) | (1.3) |
Net cash used by investing activities | (1,279.7) | (93.5) | (1,476.7) |
Proceeds from issuance of debt | 3,320.3 | 540.1 | 3,038.2 |
Payment of debt | (2,813.2) | (770.9) | (1,633.7) |
Payment of debt issuance costs | (38.1) | (5.4) | (60.9) |
Payment of cash dividends to parent | (72.1) | (77) | (88.7) |
Capital contribution from parent | 528.3 | 28.6 | |
Share based award tax withholding payments | (2.6) | (25) | (20.1) |
Net cash provided (used) by financing activities | 922.6 | (338.2) | 1,263.4 |
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | (2.5) | (1.9) | |
Effect of exchange rate changes on cash and cash equivalents | (27.2) | (8.3) | (2.6) |
Net increase (decrease) in cash and cash equivalents | 55 | (5.3) | 40.4 |
Cash and cash equivalents, beginning of period | 192.9 | 198.2 | 157.8 |
Cash and cash equivalents, end of period | 247.9 | 192.9 | 198.2 |
Parent [Member] | SB/RH Holdings, LLC [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | (143.5) | 616.6 | (319.1) |
Purchases of property, plant and equipment | (45.7) | (23.2) | (30.9) |
Business acquisitions, net of cash acquired | (1,026) | ||
Proceeds from sales of property, plant and equipment | 0.1 | 0.1 | 0.1 |
Net cash used by investing activities | (1,071.6) | (23.1) | (30.8) |
Proceeds from issuance of debt | 3,320.3 | 230.7 | 2,934.3 |
Payment of debt | (2,521.2) | (764.9) | (1,618.2) |
Payment of debt issuance costs | (38.1) | (0.5) | (58.7) |
Payment of cash dividends to parent | (72.1) | (77) | (88.7) |
Capital contribution from parent | 528.3 | 28.6 | |
Share based award tax withholding payments | (2.6) | (25) | (20.1) |
Advances related to intercompany transactions | 8.7 | 44.1 | (830.1) |
Net cash provided (used) by financing activities | 1,223.3 | (592.6) | 347.1 |
Net increase (decrease) in cash and cash equivalents | 8.2 | 0.9 | (2.8) |
Cash and cash equivalents, beginning of period | 4.8 | 3.9 | 6.7 |
Cash and cash equivalents, end of period | 13 | 4.8 | 3.9 |
Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | (770.8) | 114.4 | 727.2 |
Purchases of property, plant and equipment | (13.5) | (26.4) | (9) |
Business acquisitions, net of cash acquired | (27.6) | (1,351) | |
Proceeds from sales of property, plant and equipment | 0.1 | ||
Other investing activities | (1.8) | (1.3) | |
Net cash used by investing activities | (13.5) | (55.7) | (1,361.3) |
Advances related to intercompany transactions | 781.7 | (52.9) | 626.2 |
Net cash provided (used) by financing activities | 781.7 | (52.9) | 626.2 |
Net increase (decrease) in cash and cash equivalents | (2.6) | 5.8 | (7.9) |
Cash and cash equivalents, beginning of period | 11.2 | 5.4 | 13.3 |
Cash and cash equivalents, end of period | 8.6 | 11.2 | 5.4 |
Non-Guarantor Subsidiaries [Member] | SB/RH Holdings, LLC [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | (1,418.8) | (269.4) | 337.1 |
Purchases of property, plant and equipment | (29.9) | (23.7) | (42.1) |
Business acquisitions, net of cash acquired | (165.1) | (42.6) | |
Proceeds from sales of property, plant and equipment | 1.3 | 9 | 0.1 |
Other investing activities | (0.9) | ||
Net cash used by investing activities | (194.6) | (14.7) | (84.6) |
Proceeds from issuance of debt | 309.4 | 103.9 | |
Payment of debt | (292) | (6) | (15.5) |
Payment of debt issuance costs | (4.9) | (2.2) | |
Advances related to intercompany transactions | 1,984.5 | (18.1) | (283.1) |
Net cash provided (used) by financing activities | 1,692.5 | 280.4 | (196.9) |
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation | (2.5) | (1.9) | |
Effect of exchange rate changes on cash and cash equivalents | (27.2) | (8.3) | (2.6) |
Net increase (decrease) in cash and cash equivalents | 49.4 | (12) | 51.1 |
Cash and cash equivalents, beginning of period | 176.9 | 188.9 | 137.8 |
Cash and cash equivalents, end of period | 226.3 | 176.9 | 188.9 |
Eliminations [Member] | SB/RH Holdings, LLC [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided (used) by operating activities | 2,774.9 | (26.9) | (487) |
Advances related to intercompany transactions | (2,774.9) | 26.9 | 487 |
Net cash provided (used) by financing activities | $ (2,774.9) | $ 26.9 | $ 487 |
Quarterly Results (Unaudited114
Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Dec. 29, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net sales | $ 1,308.1 | $ 1,247.5 | $ 1,067 | $ 1,067.8 | $ 1,178.3 | $ 1,128.5 | $ 1,021.7 | $ 1,100.6 | |||
Gross Profit | 467.4 | 458 | 374.7 | 370.2 | 411 | 417.1 | 359.6 | 381.2 | $ 1,670.3 | $ 1,568.9 | $ 1,390.3 |
Net income attributable to controlling interest | $ 26.4 | $ 44.9 | $ 27.8 | $ 49.8 | $ 47.9 | $ 78.1 | $ 33.8 | $ 54.3 | $ 149.4 | $ 214.5 | $ (55.3) |
Basic earning per share | $ 0.44 | $ 0.79 | $ 0.52 | $ 0.94 | $ 0.91 | $ 1.48 | $ 0.64 | $ 1.04 | $ 2.68 | $ 4.07 | $ (1.06) |
Diluted earnings per share | $ 0.44 | $ 0.79 | $ 0.52 | $ 0.94 | $ 0.90 | $ 1.47 | $ 0.64 | $ 1.03 | $ 2.66 | $ 4.02 | $ (1.06) |
SB/RH Holdings, LLC [Member] | |||||||||||
Net sales | $ 1,308.1 | $ 1,247.5 | $ 1,067 | $ 1,067.8 | $ 1,178.3 | $ 1,128.5 | $ 1,021.7 | $ 1,100.6 | |||
Gross Profit | 467.4 | 458 | 374.7 | 370.2 | 411 | 417.1 | 359.6 | 381.2 | $ 1,670.3 | $ 1,568.9 | $ 1,390.3 |
Net income attributable to controlling interest | $ 28.4 | $ 46.6 | $ 29.6 | $ 50.8 | $ 48.5 | $ 78.6 | $ 34.9 | $ 54.8 | $ 155.8 | $ 217.1 | $ (47.5) |