Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Apr. 02, 2017 | Apr. 28, 2017 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Apr. 2, 2017 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,017 | |
Entity Registrant Name | Spectrum Brands Holdings, Inc. | |
Entity Central Index Key | 1,487,730 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 58,828,866 | |
SB/RH Holdings, LLC [Member] | ||
Entity Registrant Name | SB/RH Holdings, LLC | |
Entity Central Index Key | 1,592,706 | |
Entity Filer Category | Non-accelerated Filer |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Financial Position - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 137.2 | $ 275.3 |
Trade receivables, net | 528.5 | 482.6 |
Other receivables | 44.3 | 55.6 |
Inventories | 836.3 | 740.6 |
Prepaid expenses and other current assets | 88.8 | 78.8 |
Total current assets | 1,635.1 | 1,632.9 |
Property, plant and equipment, net | 660.8 | 542.1 |
Deferred charges and other | 47.2 | 43.2 |
Goodwill | 2,473.8 | 2,478.4 |
Intangible assets, net | 2,312.5 | 2,372.5 |
Total assets | 7,129.4 | 7,069.1 |
Current liabilities: | ||
Current portion of long-term debt | 35 | 164 |
Accounts payable | 525 | 580.1 |
Accrued wages and salaries | 64.6 | 122.9 |
Accrued interest | 37.2 | 39.3 |
Other current liabilities | 176.3 | 189.3 |
Total current liabilities | 838.1 | 1,095.6 |
Long-term debt, net of current portion | 3,745.8 | 3,456.2 |
Deferred income taxes | 577.7 | 532.7 |
Other long-term liabilities | 131.2 | 140.6 |
Total liabilities | 5,292.8 | 5,225.1 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Common stock | 0.6 | 0.6 |
Additional paid-in capital | 2,100 | 2,073.6 |
Accumulated (deficit) earnings | 139.9 | 63.6 |
Accumulated other comprehensive loss, net of tax | (236.1) | (229.4) |
Treasury stock, at cost | (211.3) | (108.3) |
Total shareholder's equity | 1,793.1 | 1,800.1 |
Noncontrolling interest | 43.5 | 43.9 |
Total equity | 1,836.6 | 1,844 |
Total liabilities and equity | 7,129.4 | 7,069.1 |
SB/RH Holdings, LLC [Member] | ||
Current assets: | ||
Cash and cash equivalents | 137.1 | 270.8 |
Trade receivables, net | 528.5 | 482.6 |
Other receivables | 42.8 | 55.6 |
Inventories | 836.3 | 740.6 |
Prepaid expenses and other current assets | 88.8 | 78.8 |
Total current assets | 1,633.5 | 1,628.4 |
Property, plant and equipment, net | 660.8 | 542.1 |
Deferred charges and other | 33.5 | 32.1 |
Goodwill | 2,473.8 | 2,478.4 |
Intangible assets, net | 2,312.5 | 2,372.5 |
Total assets | 7,114.1 | 7,053.5 |
Current liabilities: | ||
Current portion of long-term debt | 35 | 164 |
Accounts payable | 525 | 580.1 |
Accrued wages and salaries | 64.6 | 122.9 |
Accrued interest | 37.2 | 39.3 |
Other current liabilities | 174.1 | 188.3 |
Total current liabilities | 835.9 | 1,094.6 |
Long-term debt, net of current portion | 3,745.8 | 3,456.2 |
Deferred income taxes | 577.5 | 532.7 |
Other long-term liabilities | 131.2 | 140.6 |
Total liabilities | 5,290.4 | 5,224.1 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Other capital | 2,028.8 | 2,000.9 |
Accumulated (deficit) earnings | (18.4) | 8.1 |
Accumulated other comprehensive loss, net of tax | (236.1) | (229.4) |
Total shareholder's equity | 1,774.3 | 1,779.6 |
Noncontrolling interest | 49.4 | 49.8 |
Total equity | 1,823.7 | 1,829.4 |
Total liabilities and equity | $ 7,114.1 | $ 7,053.5 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Net sales | $ 1,169.9 | $ 1,209.6 | $ 2,381.7 | $ 2,428.4 |
Cost of goods sold | 710.6 | 746.6 | 1,471.2 | 1,524.6 |
Restructuring and related charges | 4.1 | 0.2 | 5.3 | 0.3 |
Gross profit | 455.2 | 462.8 | 905.2 | 903.5 |
Selling | 187.4 | 189.5 | 377.2 | 376.6 |
General and administrative | 99.4 | 95.6 | 187.9 | 181.9 |
Research and development | 15.1 | 14.5 | 29.5 | 28.3 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 4.1 | 1.4 | 6.2 | 2.5 |
Total operating expenses | 311.1 | 314.3 | 610 | 612.5 |
Operating income | 144.1 | 148.5 | 295.2 | 291 |
Interest expense | 50.6 | 57.5 | 106.4 | 115.9 |
Other non-operating expense, net | 1.8 | 0.8 | 0.8 | 4.3 |
Income from operations before income taxes | 91.7 | 90.2 | 188 | 170.8 |
Income tax expense (benefit) | 33.1 | (2.5) | 64.1 | 4.4 |
Net income (loss) | 58.6 | 92.7 | 123.9 | 166.4 |
Net (loss) income attributable to non-controlling interest | (0.2) | 0.1 | (0.2) | 0.2 |
Net income (loss) attributable to controlling interest | $ 58.8 | $ 92.6 | $ 124.1 | $ 166.2 |
Earnings Per Share | ||||
Basic earnings per share | $ 1 | $ 1.56 | $ 2.10 | $ 2.80 |
Diluted earnings per share | 1 | 1.55 | 2.09 | 2.79 |
Dividends per share | $ 0.42 | $ 0.38 | $ 0.80 | $ 0.71 |
Weighted Average Shares Outstanding | ||||
Basic | 58.8 | 59.4 | 59.1 | 59.3 |
Diluted | 59 | 59.5 | 59.3 | 59.4 |
SB/RH Holdings, LLC [Member] | ||||
Net sales | $ 1,169.9 | $ 1,209.6 | $ 2,381.7 | $ 2,428.4 |
Cost of goods sold | 710.6 | 746.6 | 1,471.2 | 1,524.6 |
Restructuring and related charges | 4.1 | 0.2 | 5.3 | 0.3 |
Gross profit | 455.2 | 462.8 | 905.2 | 903.5 |
Selling | 187.4 | 189.5 | 377.2 | 376.6 |
General and administrative | 95.9 | 94.2 | 183.3 | 178.7 |
Research and development | 15.1 | 14.5 | 29.5 | 28.3 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 4.1 | 1.4 | 6.2 | 2.5 |
Total operating expenses | 307.6 | 312.9 | 605.4 | 609.3 |
Operating income | 147.6 | 149.9 | 299.8 | 294.2 |
Interest expense | 50.7 | 57.5 | 106.7 | 115.9 |
Other non-operating expense, net | 1.8 | 0.8 | 0.8 | 4.3 |
Income from operations before income taxes | 95.1 | 91.6 | 192.3 | 174 |
Income tax expense (benefit) | 34.3 | 9 | 66.5 | 15.9 |
Net income (loss) | 60.8 | 82.6 | 125.8 | 158.1 |
Net (loss) income attributable to non-controlling interest | (0.2) | 0.1 | (0.2) | 0.2 |
Net income (loss) attributable to controlling interest | $ 61 | $ 82.5 | $ 126 | $ 157.9 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Net income | $ 58.6 | $ 92.7 | $ 123.9 | $ 166.4 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation gain (loss), net tax of $(0.4), $0, $3.5 and $0, respectively | 21.7 | 28.2 | (24.4) | 7.7 |
Unrealized (loss) gain on hedging activity, net tax of $4.5, $3.2, $(9.7) and $2.5, respectively | (9.7) | (2.9) | 14.5 | 0.8 |
Defined benefit pension (loss) gain, net tax of $0.1, $0.1, $(1.1) and $(0.2), respectively | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 11.7 | 24.7 | (6.9) | 9 |
Comprehensive income (loss) | 70.3 | 117.4 | 117 | 175.4 |
Comprehensive income (loss) attributable to non-controlling interest | 0.1 | (0.2) | (0.1) | |
Comprehensive income (loss) attributable to controlling interest | 70.2 | 117.4 | 117.2 | 175.5 |
SB/RH Holdings, LLC [Member] | ||||
Net income | 60.8 | 82.6 | 125.8 | 158.1 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation gain (loss), net tax of $(0.4), $0, $3.5 and $0, respectively | 21.7 | 28.2 | (24.4) | 7.7 |
Unrealized (loss) gain on hedging activity, net tax of $4.5, $3.2, $(9.7) and $2.5, respectively | (9.7) | (2.9) | 14.5 | 0.8 |
Defined benefit pension (loss) gain, net tax of $0.1, $0.1, $(1.1) and $(0.2), respectively | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 11.7 | 24.7 | (6.9) | 9 |
Comprehensive income (loss) | 72.5 | 107.3 | 118.9 | 167.1 |
Comprehensive income (loss) attributable to non-controlling interest | 0.1 | (0.2) | (0.1) | |
Comprehensive income (loss) attributable to controlling interest | $ 72.4 | $ 107.3 | $ 119.1 | $ 167.2 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Foreign currency translation loss, tax | $ (0.4) | $ 0 | $ 3.5 | $ 0 |
Unrealized gain on hedging activity, tax | 4.5 | 3.2 | (9.7) | 2.5 |
Defined benefit pension gain, tax | 0.1 | 0.1 | (1.1) | (0.2) |
SB/RH Holdings, LLC [Member] | ||||
Foreign currency translation loss, tax | (0.4) | 0 | 3.5 | 0 |
Unrealized gain on hedging activity, tax | 4.5 | 3.2 | (9.7) | 2.5 |
Defined benefit pension gain, tax | $ 0.1 | $ 0.1 | $ (1.1) | $ (0.2) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Apr. 02, 2017 | Apr. 03, 2016 | |
Cash flows from operating activities | ||
Net income | $ 123.9 | $ 166.4 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | ||
Amortization of intangible assets | 47.1 | 47 |
Depreciation | 46.6 | 44.4 |
Share based compensation | 23 | 31.6 |
Amortization of debt issuance costs | 3.6 | 4.1 |
Write-off of debt issuance costs | 1.9 | |
Non-cash debt accretion | 0.4 | 0.5 |
Deferred tax expense (benefit) | 33.6 | (19.3) |
Net changes in operating assets and liabilities | (250) | (419.2) |
Net cash provided (used) by operating activities | 30.1 | (144.5) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (51.3) | (38.7) |
Proceeds from sales of property, plant and equipment | 0.8 | 0.8 |
Other investing activities | (1.2) | |
Net cash used by investing activities | (51.7) | (37.9) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 216.1 | 175 |
Payment of debt | (151.6) | (13.3) |
Payment of debt issuance costs | (2.7) | (1.6) |
Payment of cash dividends | (47.3) | (42) |
Treasury stock purchases | (103.1) | (40.2) |
Share based tax withholding payments, net of proceeds upon vesting | (23.9) | (9.8) |
Net cash (used) provided by financing activities | (112.5) | 68.1 |
Effect of exchange rate changes on cash and cash equivalents | (4) | (0.3) |
Net decrease in cash and cash equivalents | (138.1) | (114.6) |
Cash and cash equivalents, beginning of period | 275.3 | 247.9 |
Cash and cash equivalents, end of period | 137.2 | 133.3 |
Supplemental disclsoure of cash flow information | ||
Cash paid for interest | 97.1 | 120.5 |
Cash paid for taxes | 19 | 23.9 |
Non cash investing activities | ||
Acquisition of property, plant and equipment through capital leases | 122.2 | 28.3 |
Non cash financing activities | ||
Issuance of shares through stock conpensation plan | 53.5 | 45.8 |
SB/RH Holdings, LLC [Member] | ||
Cash flows from operating activities | ||
Net income | 125.8 | 158.1 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | ||
Amortization of intangible assets | 47.1 | 47 |
Depreciation | 46.6 | 44.4 |
Share based compensation | 21.3 | 28.8 |
Amortization of debt issuance costs | 3.6 | 4.1 |
Write-off of debt issuance costs | 1.9 | |
Non-cash debt accretion | 0.4 | 0.5 |
Deferred tax expense (benefit) | 36 | (7.8) |
Net changes in operating assets and liabilities | (270) | (438.8) |
Net cash provided (used) by operating activities | 12.7 | (163.7) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (51.3) | (38.7) |
Proceeds from sales of property, plant and equipment | 0.8 | 0.8 |
Other investing activities | (1.2) | |
Net cash used by investing activities | (51.7) | (37.9) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 216.1 | 188.9 |
Payment of debt | (151.6) | (48.1) |
Payment of debt issuance costs | (2.7) | (1.6) |
Payment of cash dividends | (152.5) | (52) |
Net cash (used) provided by financing activities | (90.7) | 87.2 |
Effect of exchange rate changes on cash and cash equivalents | (4) | (0.3) |
Net decrease in cash and cash equivalents | (133.7) | (114.7) |
Cash and cash equivalents, beginning of period | 270.8 | 247.9 |
Cash and cash equivalents, end of period | 137.1 | 133.2 |
Supplemental disclsoure of cash flow information | ||
Cash paid for interest | 97.1 | 120.5 |
Cash paid for taxes | 19 | 23.9 |
Non cash investing activities | ||
Acquisition of property, plant and equipment through capital leases | $ 122.2 | $ 28.3 |
Basis Of Presentation
Basis Of Presentation | 6 Months Ended |
Apr. 02, 2017 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | NOTE 1 - B ASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared by the Company and its majority owned subsidiaries in accordance with accounting principles for interim financial information generally accepted in the United States and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and notes necessary for a comprehensive presentation of financial position and results of operations. It is management’s opinion, however, that all material adjustments have been made which are necessary for a fair financial statement presentation. For further information, refer to the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2016. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Apr. 02, 2017 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU requires revenue recognition to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue recognition model requires identifying the contract and performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This ASU can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the updates recognized at the date of the initial application along with additional disclosures. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , which amends the previously issued ASU to provide for a one year deferral from the original effective date. As a result, the ASU will become effective for us beginning in the first quarter of our fiscal year ending September 30, 2019, with early adoption available to us beginning in the first quarter of our fiscal year ending September 30, 2018. We are assessing the impact this pronouncement will have on the consolidated financial statements of the Company and have not determined the materiality or method of adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes the lease requirements in ASC 840, Leases . This ASU requires lessees to recognize lease assets and liabilities on the balance sheet, as well as disclosing key information about leasing arrangements. Although the ASU requires both operating and finance leases to be disclosed on the balance sheet, a distinction between the two types still exists. The ASU can be applied using a modified retrospective approach, with optional practical expedients that entities may elect to apply , relating to the identification and classification of leases that commenced before the effective date, along with the ability to use hindsight in the evaluation of lease decisio ns . T he ASU will become effective for us beginning in the first quarter of our fiscal year ending September 30, 2020, with early adoption available . We are assessing the impact this pronouncement will have on the consolidated financial statements of the Company and have not determined the materiality or method of adoption. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires an employer to disaggregate the service cost component from the other components of net periodic pension costs within the statement of income. The amendment provides guidance requiring the service cost component to be recognized consistent with other compensation costs arising from service rendered by employees during the period, and all other components to be recognized separately outside of the subtotal of income from operations. The ASU is applied on a retrospective basis, and will become effective for us in the first quarter of the year ending September 30, 2019; with early adoption available to us in the first quarter of the year ending September 30, 2018. The n et periodic benefit cost for the year ended September 30, 2016 was $4.5 million ; of which the service cost component was $2.9 million and other components were $1.6 million. The n et periodic benefit cost for the year ending September 30, 2017 will be $7.6 million , of which the service cost component is $3.9 mill ion and other cost components are $3.8 million. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the test for goodwill impairment by removing Step 2 from the goodwill impairment test. If goodwill impairment is realized, the amount recognized will be the amount by which the carrying amount exceeds the reporting unit’s fair value; however the loss recognized cannot exceed the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis and will become effective for us beginning in the first quarter of the year ended September 30, 2021, with early adoption available. We chose to adopt the standard immediately , with no impact to the condensed consolidated financial statements. |
Acquisition And Integration Cos
Acquisition And Integration Costs | 6 Months Ended |
Apr. 02, 2017 | |
Acquisition And Integration Costs [Abstract] | |
Acquisition And Integration Costs | NOTE 3 – ACQUISITION AND INTEGRATION COSTS The following summarizes acquisition and integration related charges for the three and six month periods ended April 2 , 2017 and April 3, 2016: Three Months Ended Six Months Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Armored AutoGroup $ 0.7 $ 6.1 $ 2.4 $ 10.6 HHI Business 2.0 4.8 3.8 7.6 Other 2.4 2.4 3.0 5.0 Total acquisition and integration related charges $ 5.1 $ 13.3 $ 9.2 $ 23.2 |
Restructuring And Related Charg
Restructuring And Related Charges | 6 Months Ended |
Apr. 02, 2017 | |
Restructuring And Related Charges [Abstract] | |
Restructuring And Related Charges | NOTE 4 - RESTRUCTURING AND RELATED CHARGES Pet Rightsizing Initiative – During the second quarter of the year ending September 30, 2017, the Company implemented a rightsizing initiative within the PET segment to streamline certain operations and reduce operating costs. The initiative includes headcount reductions and the rightsizing of certain facilities. Total costs associated with this initiative is expected to be approximately $5 million, of which $0.6 million has been incurred to date. The balance is anticipated to be incurred through December 31, 2017. HHI Distribution Center Consolidation – During the second quarter of the year ending September 30, 2017, the Company implemented an initiative within the HHI segment to consolidate certain operations and reduce operating costs. The initiative includes headcount reductions and the exit of certain facilities. Total costs associated with the initiative are expected to be approximately $11 million, of which $1.2 million has been incurred to date. The balance is anticipated to be incurred through September 30, 2019. GAC Business Rationalization Initiative – During the third quarter of the year ended September 30, 2016, the Company implemented an initiative in the GAC segment to consolidate certain operations and reduce operating costs. The initiative include s headcount reductions and the exit of certain facilities. Total costs associated with the initiative are expected to be approximately $28 million, of which $12.3 million has been incurred to date. The balance is anticipated to be incurred through September 30, 2017. Other Restructuring Activities – The Company is entering or may enter into small, less significant initiatives and restructuring activities to reduce costs and improve margins throughout the organization. Individually these activities are not substantial, and occur over a shorter time period (less than 12 months). The following summarizes restructuring and related charges for the three and six month periods ended April 2 , 2017 and April 3, 2016: Three Months Ended Six Months Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 HHI distribution center consolidation $ 1.2 $ — $ 1.2 $ — GAC business rationalization initiative 5.5 — 7.0 — PET rightsizing initiative 0.6 — 0.6 — HHI business rationalization initiative — 0.3 — (0.4) Other restructuring activities 0.9 1.3 2.7 3.2 Total restructuring and related charges $ 8.2 $ 1.6 $ 11.5 $ 2.8 Reported as: Cost of goods sold $ 4.1 $ 0.2 $ 5.3 $ 0.3 Operating expense 4.1 1.4 6.2 2.5 The following is a summary of restructuring and related charges for the three and six month periods ended April 2 , 2017 and April 3, 2016 and cumulative costs for current r estructuring initiatives as of April 2 , 2017, by cost type: Termination Other (in millions) Benefits Costs Total For the three months ended April 2, 2017 1.4 6.8 8.2 For the three months ended April 3, 2016 0.7 0.9 1.6 For the six months ended April 2, 2017 3.3 8.2 11.5 For the six months ended April 3, 2016 1.7 1.1 2.8 Cumulative costs through April 2, 2017 3.6 13.2 16.8 Future costs to be incurred 10.3 18.8 29.1 The following is a roll - forward of the accrual related to all restructuring and related activities, included within Other Current Liabilities, by cost type for the six month period ended April 2 , 2017: Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2016 1.6 1.0 2.6 Provisions 3.3 8.2 11.5 Cash expenditures (2.5) (7.0) (9.5) Non-cash items 1.2 (1.4) (0.2) Accrual balance at April 2, 2017 $ 3.6 $ 0.8 $ 4.4 The following summarizes restructuring and related charges by segment for the three and six month periods ended April 2 , 2017 and April 3, 2016, cumulative costs incurred through April 2 , 2017, and future expected costs to be incurred by segment: (in millions) GBA PET HHI GAC Total For the three months ended April 2, 2017 $ 0.3 $ 1.0 $ 1.4 $ 5.5 $ 8.2 For the three months ended April 3, 2016 0.1 1.1 0.4 — 1.6 For the six months ended April 2, 2017 1.3 1.6 1.6 7.0 11.5 For the six months ended April 3, 2016 0.4 1.9 0.5 — 2.8 Cumulative costs through April 2, 2017 1.3 1.6 1.6 12.3 16.8 Future costs to be incurred 0.5 4.5 8.7 15.4 29.1 |
Receivables And Concentration O
Receivables And Concentration Of Credit Risk | 6 Months Ended |
Apr. 02, 2017 | |
Receivables And Concentration Of Credit Risk [Abstract] | |
Receivables And Concentration Of Credit Risk | NOTE 5 - RECEIVABLES AND CONCENTRATION OF CREDIT RISK The allowance for uncollectible receivables as of April 2 , 2017 and September 30, 2016 was $45.3 million and $46.8 million, respectively. 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 customer represents approximately 17% and 15% of the Company’s Trade Receivables at April 2 , 2017 and September 30, 2016, respectively. |
Inventories
Inventories | 6 Months Ended |
Apr. 02, 2017 | |
Inventories [Abstract] | |
Inventories | NOTE 6 - INVENTORIES Inventories consist of the following: (in millions) April 2, 2017 September 30, 2016 Raw materials $ 147.1 $ 127.5 Work-in-process 54.9 43.6 Finished goods 634.3 569.5 $ 836.3 $ 740.6 |
Property, Plant And Equipment
Property, Plant And Equipment | 6 Months Ended |
Apr. 02, 2017 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment | NOTE 7 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: (in millions) April 2, 2017 September 30, 2016 Land, buildings and improvements $ 196.6 $ 195.8 Machinery, equipment and other 565.6 550.6 Capitalized leases 249.7 130.0 Construction in progress 79.1 57.7 Property, plant and equipment $ 1,091.0 $ 934.1 Accumulated depreciation (430.2) (392.0) Property, plant and equipment, net $ 660.8 $ 542.1 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 6 Months Ended |
Apr. 02, 2017 | |
Goodwill And Intangible Assets [Abstract] | |
Goodwill And Intangible Assets | NOTE 8 - GOODWILL AND INTANGIBLE ASSETS Goodwill, by segment, consists of the following: (in millions) GBA HHI PET H&G GAC Total As of September 30, 2016 345.1 702.8 299.8 196.5 934.2 2,478.4 Foreign currency impact (2.5) 0.1 (2.1) — (0.1) (4.6) As of April 2, 2017 $ 342.6 $ 702.9 $ 297.7 $ 196.5 $ 934.1 $ 2,473.8 The carrying value and accumulated amortization for intangible assets subject to amortization are as follows: April 2, 2017 September 30, 2016 (in millions) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 976.8 $ (327.2) $ 649.6 $ 984.8 $ (302.9) $ 681.9 Technology assets 238.2 (107.9) 130.3 237.2 (96.7) 140.5 Tradenames 165.8 (96.9) 68.9 165.7 (89.1) 76.6 Total $ 1,380.8 $ (532.0) $ 848.8 $ 1,387.7 $ (488.7) $ 899.0 The range and weighted average useful lives for definite-lived intangible assets are as follows: Asset Type Range Weighted Average Customer relationships 2 - 20 years 18.5 years Technology assets 5 - 18 years 11.2 years Tradenames 5 - 13 years 11.4 years Certain tradename intangible assets have an indefinite life and are not amortized. The balance of tradenames not subject to amortization was $1,463.7 million and $1,473.5 million as of April 2 , 2017 and September 30, 2016, respectively. There was no impairment loss on indefinite-lived trade names for the three and six month periods ended April 2 , 2017 and April 3, 2016. Amortization expense from intangible assets for the three month periods ended April 2 , 2017 and April 3, 2016 was $23.4 million and $23.4 million respectively . Amortization expense from intangible assets for the six month periods ended April 2 , 2017 and April 3, 2016 was $47.1 million and $47.0 million respectively . Excluding the impact of any future acquisitions or changes in foreign currency, the Company estimates annual amortization expense of intangible assets for the next five fiscal years will be as follows: (in millions) Amortization 2017 $ 91.9 2018 85.7 2019 85.4 2020 85.2 2021 81.9 |
Debt
Debt | 6 Months Ended |
Apr. 02, 2017 | |
Debt [Abstract] | |
Debt | NOTE 9 - DEBT Debt consists of the following: SBH SB/RH April 2, 2017 September 30, 2016 April 2, 2017 September 30, 2016 (in millions) Amount Rate Amount Rate Amount Rate Amount Rate Term Loan, variable rate, due June 23, 2022 $ 1,000.4 2.9 % $ 1,005.5 3.6 % $ 1,000.4 2.9 % $ 1,005.5 3.6 % CAD Term Loan, variable rate, due June 23, 2022 53.8 4.5 % 54.9 4.6 % 53.8 4.5 % 54.9 4.6 % Euro Term Loan, variable rate, due June 23, 2022 59.7 3.5 % 63.0 3.5 % 59.7 3.5 % 63.0 3.5 % 4.00% Notes, due October 1, 2026 453.7 4.0 % 477.0 4.0 % 453.7 4.0 % 477.0 4.0 % 5.75% Notes, due July 15, 2025 1,000.0 5.8 % 1,000.0 5.8 % 1,000.0 5.8 % 1,000.0 5.8 % 6.125% Notes, due December 15, 2024 250.0 6.1 % 250.0 6.1 % 250.0 6.1 % 250.0 6.1 % 6.375% Notes, due November 15, 2020 — — % 129.7 6.4 % — — % 129.7 6.4 % 6.625% Notes, due November 15, 2022 570.0 6.6 % 570.0 6.6 % 570.0 6.6 % 570.0 6.6 % Revolver Facility, variable rate, expiring March 6, 2022 201.5 3.3 % — — % 201.5 3.3 % — — % Other notes and obligations 20.5 9.6 % 16.8 9.8 % 20.5 9.6 % 16.8 9.8 % Obligations under capital leases 229.9 5.7 % 114.7 5.5 % 229.9 5.7 % 114.7 5.5 % Total debt 3,839.5 3,681.6 3,839.5 3,681.6 Unamortized discount on debt (4.2) (4.5) (4.2) (4.5) Debt issuance costs (54.5) (56.9) (54.5) (56.9) Less current portion (35.0) (164.0) (35.0) (164.0) Long-term debt, net of current portion $ 3,745.8 $ 3,456.2 $ 3,745.8 $ 3,456.2 On October 6, 2016, the Company entered into the first amendment to the credit agreement under its Term Loans and Revolver Facility (the “Credit Agreement”) reducing the interest rate margins applicable to the USD Term Loans to either adjusted LIBOR (International Exchange London Interbank Offered Rate), subject to a 0.75% floor plus margin of 2.50% per annum, or base rate with a 1.75% floor plus margin of 1.50% per annum. The Company recognized $1.0 million of costs in connection with amending the Credit Agreement that has been recognized as interest expense. On March 6, 2017, the Company entered into a second amendment to the Credit Agreement expanding the overall capacity of the Revolver Facility to $700 million, reducing the interest rate margin to either adjusted LIBOR plus margin ranging from 1.75% to 2.25% , or base rate plus margin ranging from 0.75% to 1.25% , reducing the commitment fee to 35bps , and extending the maturity to March 2022 . The Company recognized $2.6 million of costs in connection with amending the cash revolver that has been deferred as debt issuance costs. Subsequent to the six months ended April 2, 2017, on April 7, 2017, the Company entered into a third amendment to the credit agreement under its Term Loans reducing the interest rate margins applicable to the USD Term Loans to either adjusted LIBOR plus margin of 2.00% per annum, or base rate plus margin of 1.00% . Subsequent to the amendments to the Credit Agreement discussed above, the Term Loans and Revolver Facility are subject to variable interest rates, (i) the USD Term Loan is subject to either adjusted LIBOR, subject to a 0.75% floor plus margin of 2.00% per annum, or base rate with a 1.75% floor plus margin of 1.00% per annum, (ii) the CAD Term Loan is subject to either CDOR (Canadian Dollar Offered Rate), subject to a 0.75% floor plus 3.50% per annum, or base rate with a 1.75% floor plus 2.50% 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% pe r annum, with no base rate option available and (iv) the Revolver Facility is subject to either adjusted LIBOR plus margin ranging from 1.75% to 2.25% per annum, or base rate plus margin ranging from 0.75% to 1.25% per annum. As a result of borrowings and payments under the Revolver Facility, at April 2, 2017, the Company had borrowing availability of $472.3 million, net outstanding letters of credit of $24.7 million and a $1.5 million amount allocated to a foreign subsidiary. The Credit Agreement, solely with respect to the Revolver Facility, contains a financial covenant test on the last day of each fiscal quarter on the maximum total leverage ratio. This is calculated as the ratio of (i) the principal amount of third party debt for borrowed money (including unreimbursed letter of credit drawings), capital leases and purchase money debt, at period-end, less cash and cash equivalents, to (ii) adjusted EBITDA for the trailing twelve months. The maximum total leverage ratio should be no greater than 6.0 to 1.0. Additionally, as of April 2, 2017, we were in compliance with all other covenants under the Credit Agreement and the indentures governing the 6.625% Notes, the 6.125% Notes, the 5.75% Notes, and the 4.00% Notes . On October 20, 2016, the Company redeemed the remaining outstanding aggregate principal on the 6.375% Notes of $129.7 million with a make whole premium of $4.6 million recognized as interest expense for the six month period ended April 2, 2017 in connection with the issuance of the €425 million aggregate principal amount 4.00% unsecured notes due 2026 (the “4.00% Notes”) and repurchase of the 6.375% Notes on September 20, 2016. The Company recognized $1.9 million in interest expense for previously deferred debt issuance costs associated with the 6.375% notes. |
Derivatives
Derivatives | 6 Months Ended |
Apr. 02, 2017 | |
Derivatives [Abstract] | |
Derivatives | NOTE 10 - DERIVATIVES Cash Flow Hedges 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. At April 2 , 2017, the Company had a series of zinc and brass swap contracts outstanding through August 2018 . The derivative net gains estimated to be reclassified from AOCI into earnings over the next 12 months is $2.6 million, net of tax. The Company had the following commodity swap contracts outstanding as of April 2 , 2017 and September 30, 2016. April 2, 2017 September 30, 2016 (in millions, except notional) Notional Contract Value Notional Contract Value Zinc swap contracts 6.8 Tons $ 15.7 6.7 Tons $ 12.8 Brass swap contracts 1.4 Tons $ 6.1 1.0 Tons $ 4.0 Foreign exchange contracts. The Company periodically enters into forward foreign exchange contracts to hedge a portion of 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, Canadian Dollars or Japanese Yen. These foreign exchange contracts are cash flow hedges of fluctuating foreign exchange related to sales of product or raw material purchases. Until the sale or purchase is recognized, the fair value of the related hedge is recorded in AOCI and as a derivative hedge asset or liability, as applicable. At the time the sale or purchase is recognized, the fair value of the related hedge is reclassified as an adjustment to Net Sales or purchase price variance in Cost of Goods Sold on the Condensed Consolidated Statements of Income. At April 2 , 2017, the Company had a series of foreign exchange derivative contracts outstanding through September 2018 . The derivative net gains estimated to be reclassified from AOCI into earnings over the next 12 months is $2.2 million, net of tax. At April 2 , 2017 and September 30, 2016, the Company had foreign exchange derivative contracts designated as cash flow hedges with a notional value of $252.9 million and $224.8 million, respectively. Net Investment Hedge On September 20, 2016, SBI issued €425 million ag gregate principal amount of 4.00% Notes. The 4.00% Notes are denominated in Euros and were designated as a net investment hedge of the translation of the Company’s net investments in Euro denominated subsidiaries at the time of issuance. As a result, the translation of the Euro denominated debt is recognized as AOCI with any ineffective portion recognized as foreign currency translation gains or losses on the statement of income when the aggregate principal exceeds the net investment in its Euro denominated subsidiaries. Net gains or losses from the net investment hedge are reclassified from AOCI into earnings upon a liquidation event or deconsolidation of Euro denominated subsidiaries. As of April 2, 2017, the hedge was fully effective and no ineffective portion was recognized in earnings. Derivative Contracts Not Designated as Hedges for Accounting Purposes Foreign exchange contracts. The Company periodically enters into forward and swap foreign exchange contracts to economically hedge a portion of 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, Pounds Sterling, Taiwanese Dollars, Hong Kong Dollars or Australian Dollars. These foreign exchange contracts are economic hedges of a related liability or asset recorded in the accompanying Condensed 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 April 2 , 2017, the Company had a series of forward exchange contracts outstanding through December 2017. At April 2 , 2017 and September 30, 2016, the Company had $202.4 million and $131.4 million , respectively, of notional value of 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 the fair value of the hedge contracts are adjusted through earnings when the realized gains or losses affect earnings upon settlement of the hedges. The swaps effectively fix the floating price on a specified quantity of silver through a specified date. At April 2 , 2017, the Company had a series of commodity swaps outstanding through September 2017. The Company had the following commodity swaps outstanding as of April 2 , 2017 and September 30, 2016: April 2, 2017 September 30, 2016 (in millions, except notional) Notional Contract Value Notional Contract Value Silver 10.4 troy oz. $ 0.2 31.0 troy oz. $ 0.6 Fair Value of Derivative Instruments The fair value of the Company’s outstanding derivative contracts recorded in the Condensed Consolidated Statements of Financial Position is as follows: (in millions) Line Item April 2, 2017 September 30, 2016 Derivative Assets Commodity swaps - designated as hedge Receivables—Other $ 4.1 $ 2.9 Commodity swaps - designated as hedge Deferred charges and other 0.2 — Foreign exchange contracts - designated as hedge Receivables—Other 4.1 $ 5.5 Foreign exchange contracts - designated as hedge Deferred charges and other 0.1 0.1 Foreign exchange contracts - not designated as hedge Receivables—Other 0.4 0.2 Total Derivative Assets $ 8.9 $ 8.7 Derivative Liabilities Interest rate swaps - designated as hedge Other current liabilities $ — $ 0.7 Interest rate swaps - designated as hedge Accrued interest — 0.4 Commodity swaps - designated as hedge Accounts payable 0.1 0.1 Foreign exchange contracts - designated as hedge Accounts payable 1.3 1.7 Foreign exchange contracts - designated as hedge Other long-term liabilities 0.2 0.1 Foreign exchange contracts - not designated as hedge Accounts payable 0.6 0.2 Total Derivative Liabilities $ 2.2 $ 3.2 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 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 as of April 2 , 2017 and September 30, 2016. 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 April 2 , 2017 and September 30, 2016, there was no cash collateral o utstanding. In addition, as of April 2 , 2017 and September 30, 2016, the Company had no posted standby letters of credit related to such liability positions. The cash collateral is included in Other Receivables in the Condensed Consolidated Statements of Financial Position. The following summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three and six month periods ended April 2 , 2017 and April 3, 2016, pretax: Effective Portion For the three month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 2, 2017 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.4) Interest expense $ (0.7) Interest expense $ — Commodity swaps 2.4 Cost of goods sold 1.7 Cost of goods sold — Net investment hedge (9.1) Other non-operating expense — Other non-operating expense — Foreign exchange contracts (0.1) Net sales — Net sales — Foreign exchange contracts (4.4) Cost of goods sold 2.8 Cost of goods sold — Total $ (11.6) $ 3.8 $ — Effective Portion For the three month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 3, 2016 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.7) Interest expense $ (0.5) Interest expense $ — Commodity swaps 1.8 Cost of goods sold (1.6) Cost of goods sold — Foreign exchange contracts (6.6) Cost of goods sold 2.8 Cost of goods sold — Total $ (5.5) $ 0.7 $ — Effective Portion For the six month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 2, 2017 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.3) Interest expense $ (1.0) Interest expense $ — Commodity swaps 3.8 Cost of goods sold 2.5 Cost of goods sold — Net investment hedge 23.3 Other non-operating expense — Other non-operating expense — Foreign exchange contracts 0.1 Net sales — Net sales — Foreign exchange contracts 5.9 Cost of goods sold 7.1 Cost of goods sold — Total $ 32.8 $ 8.6 $ — Effective Portion For the six month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 3, 2016 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.3) Interest expense $ (1.0) Interest expense $ — Commodity swaps 0.8 Cost of goods sold (3.0) Cost of goods sold — Foreign exchange contracts (0.1) Net sales — Net sales — Foreign exchange contracts (1.2) Cost of goods sold 4.9 Cost of goods sold — Total $ (0.8) $ 0.9 $ — The following summarizes the loss associated with derivative contracts not designated as hedges in the Condensed Consolidated Statements of Income for the three and six month periods ended April 2 , 2017 and April 3, 2016: Three Months Ended Six Months Ended (in millions) Line Item April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Commodity swaps Cost of goods sold $ — $ — $ 0.1 $ — Foreign exchange contracts Other non-operating expenses, net (2.1) 2.9 (1.4) 0.8 Total $ (2.1) $ 2.9 $ (1.3) $ 0.8 |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 6 Months Ended |
Apr. 02, 2017 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | NOTE 11 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company has not changed the valuation techniques used in measuring the fair value of any financial assets and liabilities during the year. The Company’s derivative portfolio contains Level 2 instruments. See Note 10, “Derivatives” for additional detail. The fair value of derivative instruments as of April 2 , 2017 and September 30, 2016 are as follows: April 2, 2017 September 30, 2016 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Derivative Assets $ 8.9 $ 8.9 $ 8.7 $ 8.7 Derivative Liabilities $ 2.2 $ 2.2 $ 3.2 $ 3.2 The carrying value of cash and cash equivalents, receivables, accounts payable and short term debt approximate fair value based on the short-term nature of these assets and liabilities. The fair value measurements of the Company’s debt are valued at quoted input prices that are directly observable or indirectly observable through corroboration with observable market data (Level 2). The carrying value and fair value for debt as of April 2 , 2017 and September 30, 2016 are as follows: April 2, 2017 September 30, 2016 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Total debt - SBH $ 3,780.8 $ 3,974.6 $ 3,620.2 $ 3,865.1 Total debt - SB/RH $ 3,780.8 $ 3,974.6 $ 3,620.2 $ 3,865.1 |
Employee Benefit Plans
Employee Benefit Plans | 6 Months Ended |
Apr. 02, 2017 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | NOTE 12 - EMPLOYEE BENEFIT PLANS The net periodic benefit cost for the Company’s pension and deferred compensation plans for the three and six month periods ended April 2 , 2017, and April 3, 2016 are as follows: U.S. Plans Non U.S. Plans (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Three month period ended Service cost $ 0.1 $ 0.1 $ 0.8 $ 0.7 Interest cost 0.6 0.7 1.0 1.5 Expected return on assets (1.1) (1.1) (1.0) (1.2) Recognized net actuarial loss 0.4 0.1 1.0 0.4 Net periodic benefit cost $ — $ (0.2) $ 1.8 $ 1.4 Six month period ended Service cost $ 0.2 $ 0.1 $ 1.7 $ 1.3 Interest cost 1.3 1.5 2.1 3.1 Expected return on assets (2.2) (2.2) (2.0) (2.4) Recognized net actuarial loss 0.8 0.3 1.9 0.9 Net periodic benefit cost $ 0.1 $ (0.3) $ 3.7 $ 2.9 Weighted average assumptions Discount rate 3.50% 4.25% 1.00 - 13.50% 1.75 - 13.81% Expected return on plan assets 7.00% 7.25% 2.25 - 7.00% 1.75 - 4.53% Rate of compensation increase N/A N/A 1.00 - 3.70% 2.25 - 5.50% Company contributions to its pension and deferred compensation plans, including discretionary amounts, for the three month periods ended April 2 , 2017 and April 3, 2016 , were $2.1 million and $2.3 million, respectively. Company contributions to its pension and deferred compensation plans, including discretionary amounts, for the six month period s ended April 2 , 2017 and April 3, 2016, were $3.4 million and $5.9 million, respectively. |
Share Based Compensation
Share Based Compensation | 6 Months Ended |
Apr. 02, 2017 | |
Share Based Compensation [Abstract] | |
Share Based Compensation | NOTE 13 - SHARE BASED COMPENSATION Share based compensation expense for SBH during the three month periods ended April 2 , 2017 and April 3, 2016 was $ 14.3 million and $21.5 million respectively . Share based compensation expense for SBH during the six month periods ended April 2 , 2017 and April 3, 2016 was $23.0 million and $31.6 million respectively . The remaining unrecognized pre-tax compensation cost for SBH at April 2 , 2017 was $43.9 million. Share based compensation expense for SB/RH during the three month periods ended April 2 , 2017 and April 3, 2016 was $13.5 million and $2 0.2 million respectively . Share based compensation expense for SB/RH during the six month periods ended April 2 , 2017 and April 3, 2016 was $21.3 million and $28.8 million respectively . The remaining unrecognized pre-tax compensation cost for SB/RH at April 2 , 2017 was $ 42.7 million. During the six month period ended April 2 , 2017, SBH and SB/RH granted 0.7 million and 0.6 million Restricted Stock Units (“RSUs”) respectively. The total market value of the RSUs on the dates of the grants was $ 87.5 million and $ 86.0 million for SBH and SB/RH respectively . The fair value of RSUs is determined based on the market price of the Company’s shares of common stock on the grant date. A summary of the activity in the Company’s RSUs during the six month period ended April 2 , 2017 is as follows: SBH SB/RH Weighted Fair Weighted Fair Average Value Average Value Grant Date at Grant Grant Date at Grant (in millions, except per share data) Shares Fair Value Date Shares Fair Value Date At September 30, 2016 0.6 94.97 $ 54.8 0.5 96.92 $ 45.3 Granted 0.7 126.96 87.5 0.6 126.81 86.0 Forfeited — 116.13 (0.8) — 116.13 (0.8) Vested (0.5) 109.09 (53.5) (0.4) 112.13 (47.4) At April 2, 2017 0.8 114.46 $ 88.0 0.7 116.08 $ 83.1 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Apr. 02, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in the components of AOCI, net of tax, for the six month period ended April 2 , 2017 was as follows: Foreign Employee Currency Hedging Benefit (in millions) Translation Activity Plans Total Accumulated other comprehensive (loss) income, as of September 30, 2016 $ (160.5) $ 3.1 $ (72.0) $ (229.4) Other comprehensive (loss) income before reclassification (27.9) 32.8 1.5 6.4 Amounts reclassified from accumulated other comprehensive income (loss) — (8.6) 2.6 (6.0) Other comprehensive (loss) income (27.9) 24.2 4.1 0.4 Deferred tax effect 3.5 (9.7) (1.1) (7.3) Deferred tax valuation allowance — — — — Other comprehensive (loss) income, net of tax (24.4) 14.5 3.0 (6.9) Other comprehensive loss attributable to non-controlling interest (0.2) — — (0.2) Other comprehensive (loss) income attributable to controlling interest (24.2) 14.5 3.0 (6.7) Accumulated other comprehensive (loss) income, as of April 2, 2017 $ (184.7) $ 17.6 $ (69.0) $ (236.1) Amounts reclassified from AOCI associated with employee benefit plan costs and recognized on the Company’s Condensed Consolidated Statements of Income for the three and six month periods ended April 2 , 2017 and April 3, 2016 were as follows: Three Month Period Ended Six Month Period Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Cost of goods sold $ 0.8 $ 0.4 $ 1.6 $ 0.7 Selling expenses 0.2 0.1 0.4 0.2 General and administrative expenses 0.3 0.1 0.6 0.3 Amounts reclassified from accumulated other comprehensive income $ 1.3 $ 0.6 $ 2.6 $ 1.2 See Note 10 “Derivatives”, for amounts reclassified from AOCI from the Company’s derivative hedging activity. |
Income Taxes
Income Taxes | 6 Months Ended |
Apr. 02, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 15 - INCOME TAXES The effective tax rate for the three and six month periods ended April 2, 2017 and April 3, 2016 is as follows: Three Months Ended Six Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 SBH 36.1% (2.8)% 34.1% 2.6% SB/RH 36.1% 9.8% 34.6% 9.1% The estimated annual effective tax rate applied to these periods differs from the U.S. federal statutory rate of 35% principally due to income earned outside the U.S. that is subject to statutory rates lower than 35% net of U.S. and non-U.S. taxes provided on income earned outside the U.S. that is not permanently reinvested. For the three and six month periods ended April 3, 2016, the effective tax rate was reduced for the release of valuation allowance on U.S. net deferred tax assets. For the six month period ended April 3, 2016, the effective tax rate was also reduced by $5.9 million for non-recurring items related to the impact of tax law changes in state deferred tax rates on the Company’s net deferred tax liabilities. |
Segment Information
Segment Information | 6 Months Ended |
Apr. 02, 2017 | |
Segment Information [Abstract] | |
Segment Information | NOTE 16 - SEGMENT INFORMATION The Company identifies its segments based upon 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 and lighting products, electric personal care and small appliances businesses; (ii) Hardware & Home Improvement, which consists of the Company’s worldwide hardware, security 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 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 three and six month periods ended April 2 , 2017 and April 3, 2016 are as follows: SBH SB/RH Three month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Consumer batteries $ 185.2 $ 178.2 $ 185.2 $ 178.2 Small appliances 123.6 138.3 123.6 138.3 Personal care 104.7 108.4 104.7 108.4 Global Batteries & Appliances 413.5 424.9 413.5 424.9 Hardware & Home Improvement 313.7 301.7 313.7 301.7 Global Pet Supplies 191.8 208.5 191.8 208.5 Home and Garden 131.9 155.0 131.9 155.0 Global Auto Care 119.0 119.5 119.0 119.5 Net sales $ 1,169.9 $ 1,209.6 $ 1,169.9 $ 1,209.6 SBH SB/RH Six month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Consumer batteries $ 445.7 $ 430.8 $ 445.7 $ 430.8 Small appliances 310.0 328.2 310.0 328.2 Personal care 267.3 277.2 267.3 277.2 Global Batteries & Appliances 1,023.0 1,036.2 1,023.0 1,036.2 Hardware & Home Improvement 602.5 584.3 602.5 584.3 Global Pet Supplies 386.0 411.9 386.0 411.9 Home and Garden 181.7 202.7 181.7 202.7 Global Auto Care 188.5 193.3 188.5 193.3 Net sales $ 2,381.7 $ 2,428.4 $ 2,381.7 $ 2,428.4 During the third quarter of the year ended September 30, 2016, the Company changed its performance metric to a djusted EBITDA to better reflect how the Chief Operating Decision Maker is currently evaluating the business and making operating decisions. All amounts for prior periods have been recast to reflect current presentation. EBITDA is calculated by excluding the Company’s income tax expense, interest expense, depreciation expense and amortization expense (from intangible assets) from net income. Adjusted EBITDA further excludes : (1) share based compensation expense as it is a non-cash based compensation cost; (2) acquisition and integration costs that consist of transaction costs from acquisition transactions during the period, or subsequent integration related project costs directly associated with the acquired business; (3) restructuring and related costs, which consist of project costs associated with restructuring initiatives across the segments; (4) non-cash purchase accounting inventory adjustments recognized in earnings subsequent to an acquisition; (5) non-cash asset impairments or write-offs realized; (6) and other. During the three and six month periods ended April 2, 2017, other adjustments consist of professional fees associated with non-acquisition based strategic initiatives of the Company. During the three and six month pe riods ended April 3, 2016 , other adjustments consist s of costs associated with the exiting of a key executive, couple d wi th onboarding a key executive. The following is a r econciliation of net income to a djusted EBITDA for the three and six month periods ended April 2, 2017 and April 3, 2016, respectively: SBH SB/RH Three month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Global Batteries & Appliances $ 59.9 $ 58.3 $ 59.9 $ 58.3 Hardware & Home Improvement 56.6 53.6 56.6 53.6 Global Pet Supplies 31.9 31.4 31.9 31.4 Home and Garden 35.6 44.2 35.6 44.2 Global Auto Care 45.4 48.6 45.4 48.6 Total Segment Adjusted EBITDA 229.4 236.1 229.4 236.1 Depreciation and amortization 47.6 44.7 47.6 44.7 Share-based compensation 14.3 21.5 13.5 20.2 Corporate expenses 9.3 6.5 9.2 6.3 Acquisition and integration related charges 5.1 13.3 5.1 13.3 Restructuring and related charges 8.2 1.6 8.2 1.6 Interest expense 50.6 57.5 50.7 57.5 Other 2.6 0.8 — 0.9 Income from operations before income taxes $ 91.7 $ 90.2 $ 95.1 $ 91.6 SBH SB/RH Six month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Global Batteries & Appliances $ 168.9 $ 163.8 $ 168.9 $ 163.8 Hardware & Home Improvement 115.8 107.3 115.8 107.3 Global Pet Supplies 62.7 60.6 62.7 60.6 Home and Garden 41.3 51.3 41.3 51.3 Global Auto Care 65.2 67.8 65.2 67.8 Total Segment Adjusted EBITDA 453.9 450.8 453.9 450.8 Depreciation and amortization 93.7 91.4 93.7 91.4 Share-based compensation 23.0 31.6 21.3 28.8 Corporate expenses 19.5 14.1 19.2 13.5 Acquisition and integration related charges 9.2 23.2 9.2 23.2 Restructuring and related charges 11.5 2.8 11.5 2.8 Interest expense 106.4 115.9 106.7 115.9 Other 2.6 1.0 — 1.2 Income from operations before income taxes $ 188.0 $ 170.8 $ 192.3 $ 174.0 |
Earnings Per Share - SBH
Earnings Per Share - SBH | 6 Months Ended |
Apr. 02, 2017 | |
Earnings Per Share - SBH [Abstract] | |
Earnings Per Share - SBH | NOTE 17 - EARNINGS PER SHARE - SBH The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation and the anti-dilutive shares for the three and six month periods ended April 2 , 2017 and April 3, 2016 are as follows: Three months ended Six months ended (in millions, except per share amounts) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Numerator Net income attributable to controlling interest $ 58.8 $ 92.6 $ 124.1 $ 166.2 Denominator Weighted average shares outstanding - basic 58.8 59.4 59.1 59.3 Dilutive shares 0.2 0.1 0.2 0.1 Weighted average shares outstanding - diluted 59.0 59.5 59.3 59.4 Earnings per share Basic earnings per share $ 1.00 $ 1.56 $ 2.10 $ 2.80 Diluted earnings per share $ 1.00 $ 1.55 $ 2.09 $ 2.79 Weighted average number of anti-dilutive shares excluded from denominator Restricted stock units 0.4 0.4 0.4 0.4 |
Guarantor Statements - SB_RH
Guarantor Statements - SB/RH | 6 Months Ended |
Apr. 02, 2017 | |
Guarantor Statements - SB/RH [Abstract] | |
Guarantor Statements - SB/RH | NOTE 18 - GUARANTOR STATEMENTS – SB/RH Spectrum Brands, Inc. (“SBI”) with SB/RH as a parent guarantor (collectively, the “Parent”), with SBI’s domestic subsidiaries as subsidiary guarantors, has issued the 6.625% Notes under the 2022 Indenture, the 6.125% Notes under the 2024 Indenture, the 5.75% Notes under the 2025 Indenture and the 4.00% Notes under the 2026 Indenture. The following consolidating financial statements illustrate the components of the condensed consolidated financial statements of SB/RH Holdings, LLC. The ‘Parent’ consists of the financial statements of Spectrum Brands, Inc. as the debt issuer, with SB/RH Holdings, LLC as a parent guarantor, without consolidated entities. SB/RH Holdings, LLC financial information is not presented separately as there are no independent assets or operations and therefore determined to not be material. 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 April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 5.1 $ 0.1 $ 131.9 $ — $ 137.1 Trade receivables, net 190.7 132.0 205.8 — 528.5 Intercompany receivables — 810.6 238.1 (1,048.7) — Other receivables 7.0 2.6 33.8 (0.6) 42.8 Inventories 383.0 186.5 287.0 (20.2) 836.3 Prepaid expenses and other 41.4 9.0 38.3 0.1 88.8 Total current assets 627.2 1,140.8 934.9 (1,069.4) 1,633.5 Property, plant and equipment, net 329.2 112.2 219.4 — 660.8 Long-term intercompany receivables 210.0 114.5 12.9 (337.4) — Deferred charges and other 210.6 0.9 42.3 (220.3) 33.5 Goodwill 912.1 1,154.5 407.2 — 2,473.8 Intangible assets, net 1,312.0 619.7 380.8 — 2,312.5 Investments in subsidiaries 3,562.6 1,287.9 (2.9) (4,847.6) — Total assets $ 7,163.7 $ 4,430.5 $ 1,994.6 $ (6,474.7) $ 7,114.1 Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ 13.3 $ 1.3 $ 20.4 $ — $ 35.0 Accounts payable 202.7 103.9 218.4 — 525.0 Intercompany accounts payable 1,056.9 — — (1,056.9) — Accrued wages and salaries 23.8 2.8 38.0 — 64.6 Accrued interest 37.2 — — — 37.2 Other current liabilities 65.1 15.5 94.1 (0.6) 174.1 Total current liabilities 1,399.0 123.5 370.9 (1,057.5) 835.9 Long-term debt, net of current portion 3,662.6 50.1 33.1 — 3,745.8 Long-term intercompany debt 11.7 200.6 116.7 (329.0) — Deferred income taxes 236.0 487.4 79.9 (225.8) 577.5 Other long-term liabilities 18.8 6.3 106.1 — 131.2 Total liabilities 5,328.1 867.9 706.7 (1,612.3) 5,290.4 Shareholder's equity: Other capital 2,090.8 140.1 (963.3) 761.2 2,028.8 Accumulated (deficit) earnings (18.4) 3,650.0 2,422.5 (6,072.5) (18.4) Accumulated other comprehensive (loss) income (236.8) (227.5) (220.7) 448.9 (236.1) Total shareholder's equity 1,835.6 3,562.6 1,238.5 (4,862.4) 1,774.3 Non-controlling interest — — 49.4 — 49.4 Total equity 1,835.6 3,562.6 1,287.9 (4,862.4) 1,823.7 Total liabilities and equity $ 7,163.7 $ 4,430.5 $ 1,994.6 $ (6,474.7) $ 7,114.1 Statement of Financial Position Guarantor Nonguarantor As of September 30, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 98.6 $ 3.1 $ 169.1 $ — $ 270.8 Trade receivables, net 179.5 68.7 234.4 — 482.6 Intercompany receivables — 909.1 233.4 (1,142.5) — Other receivables — 5.5 56.3 (6.2) 55.6 Inventories 372.8 104.3 281.1 (17.6) 740.6 Prepaid expenses and other 42.8 4.4 32.1 (0.5) 78.8 Total current assets 693.7 1,095.1 1,006.4 (1,166.8) 1,628.4 Property, plant and equipment, net 241.1 77.6 223.4 — 542.1 Long-term intercompany receivables 365.4 187.3 13.7 (566.4) — Deferred charges and other 180.5 0.9 41.5 (190.8) 32.1 Goodwill 912.1 1,154.5 411.8 — 2,478.4 Intangible assets, net 1,341.5 628.5 402.5 — 2,372.5 Investments in subsidiaries 3,497.8 1,258.1 (2.9) (4,753.0) — Total assets $ 7,232.1 $ 4,402.0 $ 2,096.4 $ (6,677.0) $ 7,053.5 Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ 143.6 $ 1.4 $ 19.9 $ (0.9) $ 164.0 Accounts payable 257.5 58.4 264.2 — 580.1 Intercompany accounts payable 1,157.0 — — (1,157.0) — Accrued wages and salaries 63.9 6.6 52.4 — 122.9 Accrued interest 39.3 — — — 39.3 Other current liabilities 88.0 11.0 95.5 (6.2) 188.3 Total current liabilities 1,749.3 77.4 432.0 (1,164.1) 1,094.6 Long-term debt, net of current portion 3,402.5 20.5 33.2 — 3,456.2 Long-term intercompany debt 12.8 346.1 192.6 (551.5) — Deferred income taxes 189.0 459.2 80.3 (195.8) 532.7 Other long-term liabilities 39.5 1.0 100.1 — 140.6 Total liabilities 5,393.1 904.2 838.2 (1,911.4) 5,224.1 Shareholder's equity: Other capital 2,060.9 152.3 (954.0) 741.7 2,000.9 Accumulated earnings (deficit) 8.0 3,551.6 2,362.1 (5,913.6) 8.1 Accumulated other comprehensive (loss) income (229.9) (206.1) (199.7) 406.3 (229.4) Total shareholder's equity 1,839.0 3,497.8 1,208.4 (4,765.6) 1,779.6 Non-controlling interest — — 49.8 — 49.8 Total equity 1,839.0 3,497.8 1,258.2 (4,765.6) 1,829.4 Total liabilities and equity $ 7,232.1 $ 4,402.0 $ 2,096.4 $ (6,677.0) $ 7,053.5 Statement of Income Guarantor Nonguarantor Three month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 579.7 $ 400.1 $ 585.3 $ (395.2) $ 1,169.9 Cost of goods sold 387.4 277.9 436.6 (391.3) 710.6 Restructuring and related charges 0.3 3.8 — 4.1 Gross profit 192.0 118.4 148.7 (3.9) 455.2 Selling 79.9 30.4 77.8 (0.7) 187.4 General and administrative 58.0 18.1 19.8 — 95.9 Research and development 9.7 2.1 3.3 — 15.1 Acquisition and integration related charges 3.6 0.2 1.3 — 5.1 Restructuring and related charges 2.3 1.5 0.3 — 4.1 Total operating expense 153.5 52.3 102.5 (0.7) 307.6 Operating income (loss) 38.5 66.1 46.2 (3.2) 147.6 Interest expense 44.5 4.1 2.1 — 50.7 Other non-operating (income) expense, net (66.7) (35.8) (0.7) 105.0 1.8 Income from operations before income taxes 60.7 97.8 44.8 (108.2) 95.1 Income tax (benefit) expense (0.1) 25.3 9.7 (0.6) 34.3 Net income (loss) 60.8 72.5 35.1 (107.6) 60.8 Net loss attributable to non-controlling interest — — (0.2) — (0.2) Net income (loss) attributable to controlling interest $ 60.8 $ 72.5 $ 35.3 $ (107.6) $ 61.0 Statement of Income Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 1,212.6 $ 592.8 $ 1,296.8 $ (720.5) $ 2,381.7 Cost of goods sold 805.0 415.4 967.6 (716.8) 1,471.2 Restructuring and related charges 0.3 4.9 0.1 — 5.3 Gross profit 407.3 172.5 329.1 (3.7) 905.2 Selling 161.2 51.4 165.7 (1.1) 377.2 General and administrative 106.7 32.3 44.3 — 183.3 Research and development 18.8 3.8 6.9 — 29.5 Acquisition and integration related charges 6.4 0.3 2.5 — 9.2 Restructuring and related charges 2.8 1.9 1.5 — 6.2 Total operating expense 295.9 89.7 220.9 (1.1) 605.4 Operating income 111.4 82.8 108.2 (2.6) 299.8 Interest expense 93.9 8.1 4.7 — 106.7 Other non-operating (income) expense, net (127.6) (81.2) (1.6) 211.2 0.8 Income from operations before income taxes 145.1 155.9 105.1 (213.8) 192.3 Income tax expense 19.3 27.1 20.5 (0.4) 66.5 Net income (loss) 125.8 128.8 84.6 (213.4) 125.8 Net loss attributable to non-controlling interest — — (0.2) — (0.2) Net income (loss) attributable to controlling interest $ 125.8 $ 128.8 $ 84.8 $ (213.4) $ 126.0 Statement of Income Guarantor Nonguarantor Three month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 574.3 $ 409.3 $ 606.9 $ (380.9) $ 1,209.6 Cost of goods sold 393.6 276.9 454.6 (378.5) 746.6 Restructuring and related charges — — 0.2 — 0.2 Gross profit 180.7 132.4 152.1 (2.4) 462.8 Selling 80.6 29.8 79.6 (0.5) 189.5 General and administrative 55.2 18.1 20.9 — 94.2 Research and development 9.5 1.4 3.6 — 14.5 Acquisition and integration related charges 7.1 2.5 3.7 — 13.3 Restructuring and related charges 0.5 0.3 0.6 — 1.4 Total operating expense 152.9 52.1 108.4 (0.5) 312.9 Operating income (loss) 27.8 80.3 43.7 (1.9) 149.9 Interest expense 48.0 5.1 4.4 — 57.5 Other non-operating (income) expense, net (80.8) (44.9) 0.5 126.0 0.8 Income from operations before income taxes 60.6 120.1 38.8 (127.9) 91.6 Income tax (benefit) expense (22.0) 28.5 6.7 (4.2) 9.0 Net income (loss) 82.6 91.6 32.1 (123.7) 82.6 Net income attributable to non-controlling interest — — 0.1 — 0.1 Net income (loss) attributable to controlling interest $ 82.6 $ 91.6 $ 32.0 $ (123.7) $ 82.5 Statement of Income Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 1,206.3 $ 600.2 $ 1,341.1 $ (719.2) $ 2,428.4 Cost of goods sold 829.7 412.8 997.6 (715.5) 1,524.6 Restructuring and related charges — — 0.3 — 0.3 Gross profit 376.6 187.4 343.2 (3.7) 903.5 Selling 156.6 50.8 170.1 (0.9) 376.6 General and administrative 107.2 32.7 38.8 — 178.7 Research and development 18.1 2.8 7.4 — 28.3 Acquisition and integration related charges 13.5 3.3 6.4 — 23.2 Restructuring and related charges 1.3 0.4 0.8 — 2.5 Total operating expense 296.7 90.0 223.5 (0.9) 609.3 Operating income (loss) 79.9 97.4 119.7 (2.8) 294.2 Interest expense 96.3 10.5 9.0 0.1 115.9 Other non-operating (income) expense, net (152.8) (92.1) 4.1 245.1 4.3 Income from operations before income taxes 136.4 179.0 106.6 (248.0) 174.0 Income tax (benefit) expense (21.7) 24.7 17.0 (4.1) 15.9 Net income (loss) 158.1 154.3 89.6 (243.9) 158.1 Net income attributable to non-controlling interest — — 0.2 — 0.2 Net income (loss) attributable to controlling interest $ 158.1 $ 154.3 $ 89.4 $ (243.9) $ 157.9 Statement of Comprehensive Income Guarantor Nonguarantor Three month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 60.8 $ 72.5 $ 35.1 $ (107.6) $ 60.8 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 21.7 26.4 26.9 (53.3) 21.7 Unrealized (loss) gain on derivative instruments (9.7) (5.1) (5.2) 10.3 (9.7) Defined benefit pension (loss) gain (0.3) (0.4) (0.3) 0.7 (0.3) Other comprehensive income (loss) 11.7 20.9 21.4 (42.3) 11.7 Comprehensive income (loss) 72.5 93.4 56.5 (149.9) 72.5 Comprehensive income attributable to non-controlling interest — — 0.1 — 0.1 Comprehensive income (loss) attributable to controlling interest $ 72.5 $ 93.4 $ 56.4 $ (149.9) $ 72.4 Statement of Comprehensive Income Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 125.8 $ 128.8 $ 84.6 $ (213.4) $ 125.8 Other comprehensive income (loss), net of tax: Foreign currency translation (loss) gain (24.4) (23.5) (23.0) 46.5 (24.4) Unrealized gain (loss) on derivative instruments 14.5 (0.9) (0.8) 1.7 14.5 Defined benefit pension gain (loss) 3.0 3.0 3.0 (6.0) 3.0 Other comprehensive (loss) income (6.9) (21.4) (20.8) 42.2 (6.9) Comprehensive income (loss) 118.9 107.4 63.8 (171.2) 118.9 Comprehensive loss attributable to non-controlling interest — — (0.2) — (0.2) Comprehensive income (loss) attributable to controlling interest $ 118.9 $ 107.4 $ 64.0 $ (171.2) $ 119.1 Statement of Comprehensive Income Guarantor Nonguarantor Three month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 82.6 $ 91.6 $ 32.1 $ (123.7) $ 82.6 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 28.2 28.3 28.3 (56.6) 28.2 Unrealized (loss) gain on derivative instruments (2.9) (5.5) (5.6) 11.1 (2.9) Defined benefit pension (loss) gain (0.6) (0.6) (0.6) 1.2 (0.6) Other comprehensive income (loss) 24.7 22.2 22.1 (44.3) 24.7 Comprehensive income (loss) 107.3 113.8 54.2 (168.0) 107.3 Comprehensive income attributable to non-controlling interest — — — — — Comprehensive income (loss) attributable to controlling interest $ 107.3 $ 113.8 $ 54.2 $ (168.0) $ 107.3 Statement of Comprehensive Income Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 158.1 $ 154.3 $ 89.6 $ (243.9) $ 158.1 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 7.8 7.8 7.8 (15.7) 7.7 Unrealized gain (loss) on derivative instruments 0.7 (2.8) (2.8) 5.7 0.8 Defined benefit pension gain (loss) 0.5 0.5 0.5 (1.0) 0.5 Other comprehensive income (loss) 9.0 5.5 5.5 (11.0) 9.0 Comprehensive income (loss) 167.1 159.8 95.1 (254.9) 167.1 Comprehensive loss attributable to non-controlling interest — — (0.1) — (0.1) Comprehensive income (loss) attributable to controlling interest $ 167.1 $ 159.8 $ 95.2 $ (254.9) $ 167.2 Statement of Cash Flows Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ 171.4 $ 227.2 $ 211.8 $ (597.7) $ 12.7 Cash flows from investing activities Purchases of property, plant and equipment (22.5) (10.8) (18.0) — (51.3) Proceeds from sales of property, plant and equipment — 0.2 0.6 — 0.8 Other investing activities — (1.2) — — (1.2) Net cash used by investing activities (22.5) (11.8) (17.4) — (51.7) Cash flows from financing activities Proceeds from issuance of debt 216.1 — — — 216.1 Payment of debt (140.8) — (10.8) — (151.6) Payment of debt issuance costs (2.7) — — — (2.7) Payment of cash dividends to parent (152.5) — — — (152.5) Advances related to intercompany transactions (162.5) (218.4) (216.8) 597.7 — Net cash (used) provided by financing activities (242.4) (218.4) (227.6) 597.7 (90.7) Effect of exchange rate changes on cash and cash equivalents — — (4.0) — (4.0) Net decrease in cash and cash equivalents (93.5) (3.0) (37.2) — (133.7) Cash and cash equivalents, beginning of period 98.6 3.1 169.1 — 270.8 Cash and cash equivalents, end of period $ 5.1 $ 0.1 $ 131.9 $ — $ 137.1 Statement of Cash Flows Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ (557.4) $ 146.2 $ (346.4) $ 593.9 $ (163.7) Cash flows from investing activities — Purchases of property, plant and equipment (20.1) (6.4) (12.2) — (38.7) Proceeds from sales of property, plant and equipment 0.1 — 0.7 — 0.8 Net cash used by investing activities (20.0) (6.4) (11.5) — (37.9) Cash flows from financing activities Proceeds from issuance of debt 188.9 — — — 188.9 Payment of debt (47.0) — (1.1) — (48.1) Payment of debt issuance costs (1.6) — — — (1.6) Payment of cash dividends to parent (52.0) — — — (52.0) Advances related to intercompany transactions 480.4 (147.5) 261.0 (593.9) — Net cash provided (used) by financing activities 568.7 (147.5) 259.9 (593.9) 87.2 Effect of exchange rate changes on cash and cash equivalents — — (0.3) — (0.3) Net decrease in cash and cash equivalents (8.7) (7.7) (98.3) — (114.7) Cash and cash equivalents, beginning of period 13.0 8.6 226.3 — 247.9 Cash and cash equivalents, end of period $ 4.3 $ 0.9 $ 128.0 $ — $ 133.2 |
Subsequent Event
Subsequent Event | 6 Months Ended |
Apr. 02, 2017 | |
Subsequent Event [Abstract] | |
Subsequent Event | NOTE 19 – SUBSEQUENT EVENT On April 26, 2017, the Company entered into a definitive purchase agreement for the acquisition of Petmatrix LLC, a manufacturer and marketer of rawhide-free dog chews, with a cash purchase price of approximately $255 million. The acquisition is expected to close by the end of May 2017 and will be integrated as part of our PET segment. |
Significant Accounting Polici26
Significant Accounting Policies (Policy) | 6 Months Ended |
Apr. 02, 2017 | |
Significant Accounting Policies [Abstract] | |
Recently Issued Accounting Standards | In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This ASU requires revenue recognition to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue recognition model requires identifying the contract and performance obligations, determining the transaction price, allocating the transaction price to performance obligations and recognizing the revenue upon satisfaction of performance obligations. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. This ASU can be applied either retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the updates recognized at the date of the initial application along with additional disclosures. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , which amends the previously issued ASU to provide for a one year deferral from the original effective date. As a result, the ASU will become effective for us beginning in the first quarter of our fiscal year ending September 30, 2019, with early adoption available to us beginning in the first quarter of our fiscal year ending September 30, 2018. We are assessing the impact this pronouncement will have on the consolidated financial statements of the Company and have not determined the materiality or method of adoption. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes the lease requirements in ASC 840, Leases . This ASU requires lessees to recognize lease assets and liabilities on the balance sheet, as well as disclosing key information about leasing arrangements. Although the ASU requires both operating and finance leases to be disclosed on the balance sheet, a distinction between the two types still exists. The ASU can be applied using a modified retrospective approach, with optional practical expedients that entities may elect to apply , relating to the identification and classification of leases that commenced before the effective date, along with the ability to use hindsight in the evaluation of lease decisio ns . T he ASU will become effective for us beginning in the first quarter of our fiscal year ending September 30, 2020, with early adoption available . We are assessing the impact this pronouncement will have on the consolidated financial statements of the Company and have not determined the materiality or method of adoption. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , which requires an employer to disaggregate the service cost component from the other components of net periodic pension costs within the statement of income. The amendment provides guidance requiring the service cost component to be recognized consistent with other compensation costs arising from service rendered by employees during the period, and all other components to be recognized separately outside of the subtotal of income from operations. The ASU is applied on a retrospective basis, and will become effective for us in the first quarter of the year ending September 30, 2019; with early adoption available to us in the first quarter of the year ending September 30, 2018. The n et periodic benefit cost for the year ended September 30, 2016 was $4.5 million ; of which the service cost component was $2.9 million and other components were $1.6 million. The n et periodic benefit cost for the year ending September 30, 2017 will be $7.6 million , of which the service cost component is $3.9 mill ion and other cost components are $3.8 million. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the test for goodwill impairment by removing Step 2 from the goodwill impairment test. If goodwill impairment is realized, the amount recognized will be the amount by which the carrying amount exceeds the reporting unit’s fair value; however the loss recognized cannot exceed the total amount of goodwill allocated to that reporting unit. The ASU must be applied on a prospective basis and will become effective for us beginning in the first quarter of the year ended September 30, 2021, with early adoption available. We chose to adopt the standard immediately , with no impact to the condensed consolidated financial statements. |
Acquisition And Integration C27
Acquisition And Integration Costs (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Acquisition And Integration Costs [Abstract] | |
Summary Of Acquisition And Integration Related Charges | Three Months Ended Six Months Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Armored AutoGroup $ 0.7 $ 6.1 $ 2.4 $ 10.6 HHI Business 2.0 4.8 3.8 7.6 Other 2.4 2.4 3.0 5.0 Total acquisition and integration related charges $ 5.1 $ 13.3 $ 9.2 $ 23.2 |
Restructuring And Related Cha28
Restructuring And Related Charges (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Restructuring And Related Charges [Abstract] | |
Summary Of Restructuring And Related Charges | Three Months Ended Six Months Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 HHI distribution center consolidation $ 1.2 $ — $ 1.2 $ — GAC business rationalization initiative 5.5 — 7.0 — PET rightsizing initiative 0.6 — 0.6 — HHI business rationalization initiative — 0.3 — (0.4) Other restructuring activities 0.9 1.3 2.7 3.2 Total restructuring and related charges $ 8.2 $ 1.6 $ 11.5 $ 2.8 Reported as: Cost of goods sold $ 4.1 $ 0.2 $ 5.3 $ 0.3 Operating expense 4.1 1.4 6.2 2.5 |
Summary Of Costs Incurred And Cumulative Costs By Cost Type | Termination Other (in millions) Benefits Costs Total For the three months ended April 2, 2017 1.4 6.8 8.2 For the three months ended April 3, 2016 0.7 0.9 1.6 For the six months ended April 2, 2017 3.3 8.2 11.5 For the six months ended April 3, 2016 1.7 1.1 2.8 Cumulative costs through April 2, 2017 3.6 13.2 16.8 Future costs to be incurred 10.3 18.8 29.1 |
Rollforward Of Restructuring Accrual | Termination Other (in millions) Benefits Costs Total Accrual balance at September 30, 2016 1.6 1.0 2.6 Provisions 3.3 8.2 11.5 Cash expenditures (2.5) (7.0) (9.5) Non-cash items 1.2 (1.4) (0.2) Accrual balance at April 2, 2017 $ 3.6 $ 0.8 $ 4.4 |
Summary Of Costs Incurred By Reporting Segment | (in millions) GBA PET HHI GAC Total For the three months ended April 2, 2017 $ 0.3 $ 1.0 $ 1.4 $ 5.5 $ 8.2 For the three months ended April 3, 2016 0.1 1.1 0.4 — 1.6 For the six months ended April 2, 2017 1.3 1.6 1.6 7.0 11.5 For the six months ended April 3, 2016 0.4 1.9 0.5 — 2.8 Cumulative costs through April 2, 2017 1.3 1.6 1.6 12.3 16.8 Future costs to be incurred 0.5 4.5 8.7 15.4 29.1 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Inventories [Abstract] | |
Schedule Of Inventories | (in millions) April 2, 2017 September 30, 2016 Raw materials $ 147.1 $ 127.5 Work-in-process 54.9 43.6 Finished goods 634.3 569.5 $ 836.3 $ 740.6 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Property, Plant And Equipment [Abstract] | |
Schedule Of Property, Plant And Equipment | (in millions) April 2, 2017 September 30, 2016 Land, buildings and improvements $ 196.6 $ 195.8 Machinery, equipment and other 565.6 550.6 Capitalized leases 249.7 130.0 Construction in progress 79.1 57.7 Property, plant and equipment $ 1,091.0 $ 934.1 Accumulated depreciation (430.2) (392.0) Property, plant and equipment, net $ 660.8 $ 542.1 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Goodwill And Intangible Assets [Abstract] | |
Changes In The Carrying Amount Of Goodwill By Reporting Segment | (in millions) GBA HHI PET H&G GAC Total As of September 30, 2016 345.1 702.8 299.8 196.5 934.2 2,478.4 Foreign currency impact (2.5) 0.1 (2.1) — (0.1) (4.6) As of April 2, 2017 $ 342.6 $ 702.9 $ 297.7 $ 196.5 $ 934.1 $ 2,473.8 |
Schedule Of Carrying Value And Accumulated Amortization For Intangible Assets | April 2, 2017 September 30, 2016 (in millions) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 976.8 $ (327.2) $ 649.6 $ 984.8 $ (302.9) $ 681.9 Technology assets 238.2 (107.9) 130.3 237.2 (96.7) 140.5 Tradenames 165.8 (96.9) 68.9 165.7 (89.1) 76.6 Total $ 1,380.8 $ (532.0) $ 848.8 $ 1,387.7 $ (488.7) $ 899.0 |
Schedule Of Range And Weighted Average Useful Lives For Definite-Lived Intangible Assets | Asset Type Range Weighted Average Customer relationships 2 - 20 years 18.5 years Technology assets 5 - 18 years 11.2 years Tradenames 5 - 13 years 11.4 years |
Schedule Of Future Amortization Expense | (in millions) Amortization 2017 $ 91.9 2018 85.7 2019 85.4 2020 85.2 2021 81.9 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Debt [Abstract] | |
Schedule Of Debt | SBH SB/RH April 2, 2017 September 30, 2016 April 2, 2017 September 30, 2016 (in millions) Amount Rate Amount Rate Amount Rate Amount Rate Term Loan, variable rate, due June 23, 2022 $ 1,000.4 2.9 % $ 1,005.5 3.6 % $ 1,000.4 2.9 % $ 1,005.5 3.6 % CAD Term Loan, variable rate, due June 23, 2022 53.8 4.5 % 54.9 4.6 % 53.8 4.5 % 54.9 4.6 % Euro Term Loan, variable rate, due June 23, 2022 59.7 3.5 % 63.0 3.5 % 59.7 3.5 % 63.0 3.5 % 4.00% Notes, due October 1, 2026 453.7 4.0 % 477.0 4.0 % 453.7 4.0 % 477.0 4.0 % 5.75% Notes, due July 15, 2025 1,000.0 5.8 % 1,000.0 5.8 % 1,000.0 5.8 % 1,000.0 5.8 % 6.125% Notes, due December 15, 2024 250.0 6.1 % 250.0 6.1 % 250.0 6.1 % 250.0 6.1 % 6.375% Notes, due November 15, 2020 — — % 129.7 6.4 % — — % 129.7 6.4 % 6.625% Notes, due November 15, 2022 570.0 6.6 % 570.0 6.6 % 570.0 6.6 % 570.0 6.6 % Revolver Facility, variable rate, expiring March 6, 2022 201.5 3.3 % — — % 201.5 3.3 % — — % Other notes and obligations 20.5 9.6 % 16.8 9.8 % 20.5 9.6 % 16.8 9.8 % Obligations under capital leases 229.9 5.7 % 114.7 5.5 % 229.9 5.7 % 114.7 5.5 % Total debt 3,839.5 3,681.6 3,839.5 3,681.6 Unamortized discount on debt (4.2) (4.5) (4.2) (4.5) Debt issuance costs (54.5) (56.9) (54.5) (56.9) Less current portion (35.0) (164.0) (35.0) (164.0) Long-term debt, net of current portion $ 3,745.8 $ 3,456.2 $ 3,745.8 $ 3,456.2 |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Schedule Of Fair Value Of Outstanding Derivative Instruments | (in millions) Line Item April 2, 2017 September 30, 2016 Derivative Assets Commodity swaps - designated as hedge Receivables—Other $ 4.1 $ 2.9 Commodity swaps - designated as hedge Deferred charges and other 0.2 — Foreign exchange contracts - designated as hedge Receivables—Other 4.1 $ 5.5 Foreign exchange contracts - designated as hedge Deferred charges and other 0.1 0.1 Foreign exchange contracts - not designated as hedge Receivables—Other 0.4 0.2 Total Derivative Assets $ 8.9 $ 8.7 Derivative Liabilities Interest rate swaps - designated as hedge Other current liabilities $ — $ 0.7 Interest rate swaps - designated as hedge Accrued interest — 0.4 Commodity swaps - designated as hedge Accounts payable 0.1 0.1 Foreign exchange contracts - designated as hedge Accounts payable 1.3 1.7 Foreign exchange contracts - designated as hedge Other long-term liabilities 0.2 0.1 Foreign exchange contracts - not designated as hedge Accounts payable 0.6 0.2 Total Derivative Liabilities $ 2.2 $ 3.2 |
Summary Of Impact Of Effective And Ineffective Portions Of Cash Flow Hedges And Gain (Loss) Realized | Effective Portion For the three month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 2, 2017 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.4) Interest expense $ (0.7) Interest expense $ — Commodity swaps 2.4 Cost of goods sold 1.7 Cost of goods sold — Net investment hedge (9.1) Other non-operating expense — Other non-operating expense — Foreign exchange contracts (0.1) Net sales — Net sales — Foreign exchange contracts (4.4) Cost of goods sold 2.8 Cost of goods sold — Total $ (11.6) $ 3.8 $ — Effective Portion For the three month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 3, 2016 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.7) Interest expense $ (0.5) Interest expense $ — Commodity swaps 1.8 Cost of goods sold (1.6) Cost of goods sold — Foreign exchange contracts (6.6) Cost of goods sold 2.8 Cost of goods sold — Total $ (5.5) $ 0.7 $ — Effective Portion For the six month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 2, 2017 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.3) Interest expense $ (1.0) Interest expense $ — Commodity swaps 3.8 Cost of goods sold 2.5 Cost of goods sold — Net investment hedge 23.3 Other non-operating expense — Other non-operating expense — Foreign exchange contracts 0.1 Net sales — Net sales — Foreign exchange contracts 5.9 Cost of goods sold 7.1 Cost of goods sold — Total $ 32.8 $ 8.6 $ — Effective Portion For the six month period ended Gain (Loss) Reclassified to Earnings Ineffective portion April 3, 2016 (in millions) in OCI Line Item Gain (Loss) Line Item Gain (Loss) Interest rate swaps $ (0.3) Interest expense $ (1.0) Interest expense $ — Commodity swaps 0.8 Cost of goods sold (3.0) Cost of goods sold — Foreign exchange contracts (0.1) Net sales — Net sales — Foreign exchange contracts (1.2) Cost of goods sold 4.9 Cost of goods sold — Total $ (0.8) $ 0.9 $ — |
Summary Of Gain (Loss) Associated With Derivative Contracts Not Designated As Hedges | Three Months Ended Six Months Ended (in millions) Line Item April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Commodity swaps Cost of goods sold $ — $ — $ 0.1 $ — Foreign exchange contracts Other non-operating expenses, net (2.1) 2.9 (1.4) 0.8 Total $ (2.1) $ 2.9 $ (1.3) $ 0.8 |
Cash Flow Hedging [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Schedule Of Commodity Swap Contracts Outstanding | April 2, 2017 September 30, 2016 (in millions, except notional) Notional Contract Value Notional Contract Value Zinc swap contracts 6.8 Tons $ 15.7 6.7 Tons $ 12.8 Brass swap contracts 1.4 Tons $ 6.1 1.0 Tons $ 4.0 |
Fair Value Hedging [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Schedule Of Commodity Swap Contracts Outstanding | April 2, 2017 September 30, 2016 (in millions, except notional) Notional Contract Value Notional Contract Value Silver 10.4 troy oz. $ 0.2 31.0 troy oz. $ 0.6 |
Fair Value Of Financial Instr34
Fair Value Of Financial Instruments (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Values Of Derivative Instruments | April 2, 2017 September 30, 2016 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Derivative Assets $ 8.9 $ 8.9 $ 8.7 $ 8.7 Derivative Liabilities $ 2.2 $ 2.2 $ 3.2 $ 3.2 |
Carrying Values And Fair Values For Debt | April 2, 2017 September 30, 2016 Carrying Carrying (in millions) Amount Fair Value Amount Fair Value Total debt - SBH $ 3,780.8 $ 3,974.6 $ 3,620.2 $ 3,865.1 Total debt - SB/RH $ 3,780.8 $ 3,974.6 $ 3,620.2 $ 3,865.1 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Employee Benefit Plans [Abstract] | |
Components Of Net Periodic Benefit Cost | U.S. Plans Non U.S. Plans (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Three month period ended Service cost $ 0.1 $ 0.1 $ 0.8 $ 0.7 Interest cost 0.6 0.7 1.0 1.5 Expected return on assets (1.1) (1.1) (1.0) (1.2) Recognized net actuarial loss 0.4 0.1 1.0 0.4 Net periodic benefit cost $ — $ (0.2) $ 1.8 $ 1.4 Six month period ended Service cost $ 0.2 $ 0.1 $ 1.7 $ 1.3 Interest cost 1.3 1.5 2.1 3.1 Expected return on assets (2.2) (2.2) (2.0) (2.4) Recognized net actuarial loss 0.8 0.3 1.9 0.9 Net periodic benefit cost $ 0.1 $ (0.3) $ 3.7 $ 2.9 Weighted average assumptions Discount rate 3.50% 4.25% 1.00 - 13.50% 1.75 - 13.81% Expected return on plan assets 7.00% 7.25% 2.25 - 7.00% 1.75 - 4.53% Rate of compensation increase N/A N/A 1.00 - 3.70% 2.25 - 5.50% |
Share Based Compensation (Table
Share Based Compensation (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Share Based Compensation [Abstract] | |
Summary Of Non-Vested RSUs Activity | SBH SB/RH Weighted Fair Weighted Fair Average Value Average Value Grant Date at Grant Grant Date at Grant (in millions, except per share data) Shares Fair Value Date Shares Fair Value Date At September 30, 2016 0.6 94.97 $ 54.8 0.5 96.92 $ 45.3 Granted 0.7 126.96 87.5 0.6 126.81 86.0 Forfeited — 116.13 (0.8) — 116.13 (0.8) Vested (0.5) 109.09 (53.5) (0.4) 112.13 (47.4) At April 2, 2017 0.8 114.46 $ 88.0 0.7 116.08 $ 83.1 |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Foreign Employee Currency Hedging Benefit (in millions) Translation Activity Plans Total Accumulated other comprehensive (loss) income, as of September 30, 2016 $ (160.5) $ 3.1 $ (72.0) $ (229.4) Other comprehensive (loss) income before reclassification (27.9) 32.8 1.5 6.4 Amounts reclassified from accumulated other comprehensive income (loss) — (8.6) 2.6 (6.0) Other comprehensive (loss) income (27.9) 24.2 4.1 0.4 Deferred tax effect 3.5 (9.7) (1.1) (7.3) Deferred tax valuation allowance — — — — Other comprehensive (loss) income, net of tax (24.4) 14.5 3.0 (6.9) Other comprehensive loss attributable to non-controlling interest (0.2) — — (0.2) Other comprehensive (loss) income attributable to controlling interest (24.2) 14.5 3.0 (6.7) Accumulated other comprehensive (loss) income, as of April 2, 2017 $ (184.7) $ 17.6 $ (69.0) $ (236.1) |
Schedule Of Reclassified From AOCL Associated With Employee Benefit Plan Costs | Three Month Period Ended Six Month Period Ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Cost of goods sold $ 0.8 $ 0.4 $ 1.6 $ 0.7 Selling expenses 0.2 0.1 0.4 0.2 General and administrative expenses 0.3 0.1 0.6 0.3 Amounts reclassified from accumulated other comprehensive income $ 1.3 $ 0.6 $ 2.6 $ 1.2 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Income Taxes [Abstract] | |
Schedule Of Effective Tax Rate | Three Months Ended Six Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 SBH 36.1% (2.8)% 34.1% 2.6% SB/RH 36.1% 9.8% 34.6% 9.1% |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Segment Information [Abstract] | |
Net Sales Relating To Segments | SBH SB/RH Three month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Consumer batteries $ 185.2 $ 178.2 $ 185.2 $ 178.2 Small appliances 123.6 138.3 123.6 138.3 Personal care 104.7 108.4 104.7 108.4 Global Batteries & Appliances 413.5 424.9 413.5 424.9 Hardware & Home Improvement 313.7 301.7 313.7 301.7 Global Pet Supplies 191.8 208.5 191.8 208.5 Home and Garden 131.9 155.0 131.9 155.0 Global Auto Care 119.0 119.5 119.0 119.5 Net sales $ 1,169.9 $ 1,209.6 $ 1,169.9 $ 1,209.6 SBH SB/RH Six month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Consumer batteries $ 445.7 $ 430.8 $ 445.7 $ 430.8 Small appliances 310.0 328.2 310.0 328.2 Personal care 267.3 277.2 267.3 277.2 Global Batteries & Appliances 1,023.0 1,036.2 1,023.0 1,036.2 Hardware & Home Improvement 602.5 584.3 602.5 584.3 Global Pet Supplies 386.0 411.9 386.0 411.9 Home and Garden 181.7 202.7 181.7 202.7 Global Auto Care 188.5 193.3 188.5 193.3 Net sales $ 2,381.7 $ 2,428.4 $ 2,381.7 $ 2,428.4 |
Segment Profit Relating To Segments | SBH SB/RH Three month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Global Batteries & Appliances $ 59.9 $ 58.3 $ 59.9 $ 58.3 Hardware & Home Improvement 56.6 53.6 56.6 53.6 Global Pet Supplies 31.9 31.4 31.9 31.4 Home and Garden 35.6 44.2 35.6 44.2 Global Auto Care 45.4 48.6 45.4 48.6 Total Segment Adjusted EBITDA 229.4 236.1 229.4 236.1 Depreciation and amortization 47.6 44.7 47.6 44.7 Share-based compensation 14.3 21.5 13.5 20.2 Corporate expenses 9.3 6.5 9.2 6.3 Acquisition and integration related charges 5.1 13.3 5.1 13.3 Restructuring and related charges 8.2 1.6 8.2 1.6 Interest expense 50.6 57.5 50.7 57.5 Other 2.6 0.8 — 0.9 Income from operations before income taxes $ 91.7 $ 90.2 $ 95.1 $ 91.6 SBH SB/RH Six month periods ended (in millions) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Global Batteries & Appliances $ 168.9 $ 163.8 $ 168.9 $ 163.8 Hardware & Home Improvement 115.8 107.3 115.8 107.3 Global Pet Supplies 62.7 60.6 62.7 60.6 Home and Garden 41.3 51.3 41.3 51.3 Global Auto Care 65.2 67.8 65.2 67.8 Total Segment Adjusted EBITDA 453.9 450.8 453.9 450.8 Depreciation and amortization 93.7 91.4 93.7 91.4 Share-based compensation 23.0 31.6 21.3 28.8 Corporate expenses 19.5 14.1 19.2 13.5 Acquisition and integration related charges 9.2 23.2 9.2 23.2 Restructuring and related charges 11.5 2.8 11.5 2.8 Interest expense 106.4 115.9 106.7 115.9 Other 2.6 1.0 — 1.2 Income from operations before income taxes $ 188.0 $ 170.8 $ 192.3 $ 174.0 |
Earnings Per Share - SBH (Table
Earnings Per Share - SBH (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Earnings Per Share - SBH [Abstract] | |
Schedule Of Earnings Per Share | Three months ended Six months ended (in millions, except per share amounts) April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Numerator Net income attributable to controlling interest $ 58.8 $ 92.6 $ 124.1 $ 166.2 Denominator Weighted average shares outstanding - basic 58.8 59.4 59.1 59.3 Dilutive shares 0.2 0.1 0.2 0.1 Weighted average shares outstanding - diluted 59.0 59.5 59.3 59.4 Earnings per share Basic earnings per share $ 1.00 $ 1.56 $ 2.10 $ 2.80 Diluted earnings per share $ 1.00 $ 1.55 $ 2.09 $ 2.79 Weighted average number of anti-dilutive shares excluded from denominator Restricted stock units 0.4 0.4 0.4 0.4 |
Guarantor Statements - SB_RH (T
Guarantor Statements - SB/RH (Tables) | 6 Months Ended |
Apr. 02, 2017 | |
Guarantor Statements - SB/RH [Abstract] | |
Statement Of Financial Position | Statement of Financial Position Guarantor Nonguarantor As of April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 5.1 $ 0.1 $ 131.9 $ — $ 137.1 Trade receivables, net 190.7 132.0 205.8 — 528.5 Intercompany receivables — 810.6 238.1 (1,048.7) — Other receivables 7.0 2.6 33.8 (0.6) 42.8 Inventories 383.0 186.5 287.0 (20.2) 836.3 Prepaid expenses and other 41.4 9.0 38.3 0.1 88.8 Total current assets 627.2 1,140.8 934.9 (1,069.4) 1,633.5 Property, plant and equipment, net 329.2 112.2 219.4 — 660.8 Long-term intercompany receivables 210.0 114.5 12.9 (337.4) — Deferred charges and other 210.6 0.9 42.3 (220.3) 33.5 Goodwill 912.1 1,154.5 407.2 — 2,473.8 Intangible assets, net 1,312.0 619.7 380.8 — 2,312.5 Investments in subsidiaries 3,562.6 1,287.9 (2.9) (4,847.6) — Total assets $ 7,163.7 $ 4,430.5 $ 1,994.6 $ (6,474.7) $ 7,114.1 Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ 13.3 $ 1.3 $ 20.4 $ — $ 35.0 Accounts payable 202.7 103.9 218.4 — 525.0 Intercompany accounts payable 1,056.9 — — (1,056.9) — Accrued wages and salaries 23.8 2.8 38.0 — 64.6 Accrued interest 37.2 — — — 37.2 Other current liabilities 65.1 15.5 94.1 (0.6) 174.1 Total current liabilities 1,399.0 123.5 370.9 (1,057.5) 835.9 Long-term debt, net of current portion 3,662.6 50.1 33.1 — 3,745.8 Long-term intercompany debt 11.7 200.6 116.7 (329.0) — Deferred income taxes 236.0 487.4 79.9 (225.8) 577.5 Other long-term liabilities 18.8 6.3 106.1 — 131.2 Total liabilities 5,328.1 867.9 706.7 (1,612.3) 5,290.4 Shareholder's equity: Other capital 2,090.8 140.1 (963.3) 761.2 2,028.8 Accumulated (deficit) earnings (18.4) 3,650.0 2,422.5 (6,072.5) (18.4) Accumulated other comprehensive (loss) income (236.8) (227.5) (220.7) 448.9 (236.1) Total shareholder's equity 1,835.6 3,562.6 1,238.5 (4,862.4) 1,774.3 Non-controlling interest — — 49.4 — 49.4 Total equity 1,835.6 3,562.6 1,287.9 (4,862.4) 1,823.7 Total liabilities and equity $ 7,163.7 $ 4,430.5 $ 1,994.6 $ (6,474.7) $ 7,114.1 Statement of Financial Position Guarantor Nonguarantor As of September 30, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 98.6 $ 3.1 $ 169.1 $ — $ 270.8 Trade receivables, net 179.5 68.7 234.4 — 482.6 Intercompany receivables — 909.1 233.4 (1,142.5) — Other receivables — 5.5 56.3 (6.2) 55.6 Inventories 372.8 104.3 281.1 (17.6) 740.6 Prepaid expenses and other 42.8 4.4 32.1 (0.5) 78.8 Total current assets 693.7 1,095.1 1,006.4 (1,166.8) 1,628.4 Property, plant and equipment, net 241.1 77.6 223.4 — 542.1 Long-term intercompany receivables 365.4 187.3 13.7 (566.4) — Deferred charges and other 180.5 0.9 41.5 (190.8) 32.1 Goodwill 912.1 1,154.5 411.8 — 2,478.4 Intangible assets, net 1,341.5 628.5 402.5 — 2,372.5 Investments in subsidiaries 3,497.8 1,258.1 (2.9) (4,753.0) — Total assets $ 7,232.1 $ 4,402.0 $ 2,096.4 $ (6,677.0) $ 7,053.5 Liabilities and Shareholder's Equity Current liabilities: Current portion of long-term debt $ 143.6 $ 1.4 $ 19.9 $ (0.9) $ 164.0 Accounts payable 257.5 58.4 264.2 — 580.1 Intercompany accounts payable 1,157.0 — — (1,157.0) — Accrued wages and salaries 63.9 6.6 52.4 — 122.9 Accrued interest 39.3 — — — 39.3 Other current liabilities 88.0 11.0 95.5 (6.2) 188.3 Total current liabilities 1,749.3 77.4 432.0 (1,164.1) 1,094.6 Long-term debt, net of current portion 3,402.5 20.5 33.2 — 3,456.2 Long-term intercompany debt 12.8 346.1 192.6 (551.5) — Deferred income taxes 189.0 459.2 80.3 (195.8) 532.7 Other long-term liabilities 39.5 1.0 100.1 — 140.6 Total liabilities 5,393.1 904.2 838.2 (1,911.4) 5,224.1 Shareholder's equity: Other capital 2,060.9 152.3 (954.0) 741.7 2,000.9 Accumulated earnings (deficit) 8.0 3,551.6 2,362.1 (5,913.6) 8.1 Accumulated other comprehensive (loss) income (229.9) (206.1) (199.7) 406.3 (229.4) Total shareholder's equity 1,839.0 3,497.8 1,208.4 (4,765.6) 1,779.6 Non-controlling interest — — 49.8 — 49.8 Total equity 1,839.0 3,497.8 1,258.2 (4,765.6) 1,829.4 Total liabilities and equity $ 7,232.1 $ 4,402.0 $ 2,096.4 $ (6,677.0) $ 7,053.5 |
Statement Of Income | Statement of Income Guarantor Nonguarantor Three month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 579.7 $ 400.1 $ 585.3 $ (395.2) $ 1,169.9 Cost of goods sold 387.4 277.9 436.6 (391.3) 710.6 Restructuring and related charges 0.3 3.8 — 4.1 Gross profit 192.0 118.4 148.7 (3.9) 455.2 Selling 79.9 30.4 77.8 (0.7) 187.4 General and administrative 58.0 18.1 19.8 — 95.9 Research and development 9.7 2.1 3.3 — 15.1 Acquisition and integration related charges 3.6 0.2 1.3 — 5.1 Restructuring and related charges 2.3 1.5 0.3 — 4.1 Total operating expense 153.5 52.3 102.5 (0.7) 307.6 Operating income (loss) 38.5 66.1 46.2 (3.2) 147.6 Interest expense 44.5 4.1 2.1 — 50.7 Other non-operating (income) expense, net (66.7) (35.8) (0.7) 105.0 1.8 Income from operations before income taxes 60.7 97.8 44.8 (108.2) 95.1 Income tax (benefit) expense (0.1) 25.3 9.7 (0.6) 34.3 Net income (loss) 60.8 72.5 35.1 (107.6) 60.8 Net loss attributable to non-controlling interest — — (0.2) — (0.2) Net income (loss) attributable to controlling interest $ 60.8 $ 72.5 $ 35.3 $ (107.6) $ 61.0 Statement of Income Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 1,212.6 $ 592.8 $ 1,296.8 $ (720.5) $ 2,381.7 Cost of goods sold 805.0 415.4 967.6 (716.8) 1,471.2 Restructuring and related charges 0.3 4.9 0.1 — 5.3 Gross profit 407.3 172.5 329.1 (3.7) 905.2 Selling 161.2 51.4 165.7 (1.1) 377.2 General and administrative 106.7 32.3 44.3 — 183.3 Research and development 18.8 3.8 6.9 — 29.5 Acquisition and integration related charges 6.4 0.3 2.5 — 9.2 Restructuring and related charges 2.8 1.9 1.5 — 6.2 Total operating expense 295.9 89.7 220.9 (1.1) 605.4 Operating income 111.4 82.8 108.2 (2.6) 299.8 Interest expense 93.9 8.1 4.7 — 106.7 Other non-operating (income) expense, net (127.6) (81.2) (1.6) 211.2 0.8 Income from operations before income taxes 145.1 155.9 105.1 (213.8) 192.3 Income tax expense 19.3 27.1 20.5 (0.4) 66.5 Net income (loss) 125.8 128.8 84.6 (213.4) 125.8 Net loss attributable to non-controlling interest — — (0.2) — (0.2) Net income (loss) attributable to controlling interest $ 125.8 $ 128.8 $ 84.8 $ (213.4) $ 126.0 Statement of Income Guarantor Nonguarantor Three month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 574.3 $ 409.3 $ 606.9 $ (380.9) $ 1,209.6 Cost of goods sold 393.6 276.9 454.6 (378.5) 746.6 Restructuring and related charges — — 0.2 — 0.2 Gross profit 180.7 132.4 152.1 (2.4) 462.8 Selling 80.6 29.8 79.6 (0.5) 189.5 General and administrative 55.2 18.1 20.9 — 94.2 Research and development 9.5 1.4 3.6 — 14.5 Acquisition and integration related charges 7.1 2.5 3.7 — 13.3 Restructuring and related charges 0.5 0.3 0.6 — 1.4 Total operating expense 152.9 52.1 108.4 (0.5) 312.9 Operating income (loss) 27.8 80.3 43.7 (1.9) 149.9 Interest expense 48.0 5.1 4.4 — 57.5 Other non-operating (income) expense, net (80.8) (44.9) 0.5 126.0 0.8 Income from operations before income taxes 60.6 120.1 38.8 (127.9) 91.6 Income tax (benefit) expense (22.0) 28.5 6.7 (4.2) 9.0 Net income (loss) 82.6 91.6 32.1 (123.7) 82.6 Net income attributable to non-controlling interest — — 0.1 — 0.1 Net income (loss) attributable to controlling interest $ 82.6 $ 91.6 $ 32.0 $ (123.7) $ 82.5 Statement of Income Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net sales $ 1,206.3 $ 600.2 $ 1,341.1 $ (719.2) $ 2,428.4 Cost of goods sold 829.7 412.8 997.6 (715.5) 1,524.6 Restructuring and related charges — — 0.3 — 0.3 Gross profit 376.6 187.4 343.2 (3.7) 903.5 Selling 156.6 50.8 170.1 (0.9) 376.6 General and administrative 107.2 32.7 38.8 — 178.7 Research and development 18.1 2.8 7.4 — 28.3 Acquisition and integration related charges 13.5 3.3 6.4 — 23.2 Restructuring and related charges 1.3 0.4 0.8 — 2.5 Total operating expense 296.7 90.0 223.5 (0.9) 609.3 Operating income (loss) 79.9 97.4 119.7 (2.8) 294.2 Interest expense 96.3 10.5 9.0 0.1 115.9 Other non-operating (income) expense, net (152.8) (92.1) 4.1 245.1 4.3 Income from operations before income taxes 136.4 179.0 106.6 (248.0) 174.0 Income tax (benefit) expense (21.7) 24.7 17.0 (4.1) 15.9 Net income (loss) 158.1 154.3 89.6 (243.9) 158.1 Net income attributable to non-controlling interest — — 0.2 — 0.2 Net income (loss) attributable to controlling interest $ 158.1 $ 154.3 $ 89.4 $ (243.9) $ 157.9 |
Statement Of Comprehensive Income | Statement of Comprehensive Income Guarantor Nonguarantor Three month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 60.8 $ 72.5 $ 35.1 $ (107.6) $ 60.8 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 21.7 26.4 26.9 (53.3) 21.7 Unrealized (loss) gain on derivative instruments (9.7) (5.1) (5.2) 10.3 (9.7) Defined benefit pension (loss) gain (0.3) (0.4) (0.3) 0.7 (0.3) Other comprehensive income (loss) 11.7 20.9 21.4 (42.3) 11.7 Comprehensive income (loss) 72.5 93.4 56.5 (149.9) 72.5 Comprehensive income attributable to non-controlling interest — — 0.1 — 0.1 Comprehensive income (loss) attributable to controlling interest $ 72.5 $ 93.4 $ 56.4 $ (149.9) $ 72.4 Statement of Comprehensive Income Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 125.8 $ 128.8 $ 84.6 $ (213.4) $ 125.8 Other comprehensive income (loss), net of tax: Foreign currency translation (loss) gain (24.4) (23.5) (23.0) 46.5 (24.4) Unrealized gain (loss) on derivative instruments 14.5 (0.9) (0.8) 1.7 14.5 Defined benefit pension gain (loss) 3.0 3.0 3.0 (6.0) 3.0 Other comprehensive (loss) income (6.9) (21.4) (20.8) 42.2 (6.9) Comprehensive income (loss) 118.9 107.4 63.8 (171.2) 118.9 Comprehensive loss attributable to non-controlling interest — — (0.2) — (0.2) Comprehensive income (loss) attributable to controlling interest $ 118.9 $ 107.4 $ 64.0 $ (171.2) $ 119.1 Statement of Comprehensive Income Guarantor Nonguarantor Three month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 82.6 $ 91.6 $ 32.1 $ (123.7) $ 82.6 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 28.2 28.3 28.3 (56.6) 28.2 Unrealized (loss) gain on derivative instruments (2.9) (5.5) (5.6) 11.1 (2.9) Defined benefit pension (loss) gain (0.6) (0.6) (0.6) 1.2 (0.6) Other comprehensive income (loss) 24.7 22.2 22.1 (44.3) 24.7 Comprehensive income (loss) 107.3 113.8 54.2 (168.0) 107.3 Comprehensive income attributable to non-controlling interest — — — — — Comprehensive income (loss) attributable to controlling interest $ 107.3 $ 113.8 $ 54.2 $ (168.0) $ 107.3 Statement of Comprehensive Income Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net income (loss) $ 158.1 $ 154.3 $ 89.6 $ (243.9) $ 158.1 Other comprehensive income (loss), net of tax: Foreign currency translation gain (loss) 7.8 7.8 7.8 (15.7) 7.7 Unrealized gain (loss) on derivative instruments 0.7 (2.8) (2.8) 5.7 0.8 Defined benefit pension gain (loss) 0.5 0.5 0.5 (1.0) 0.5 Other comprehensive income (loss) 9.0 5.5 5.5 (11.0) 9.0 Comprehensive income (loss) 167.1 159.8 95.1 (254.9) 167.1 Comprehensive loss attributable to non-controlling interest — — (0.1) — (0.1) Comprehensive income (loss) attributable to controlling interest $ 167.1 $ 159.8 $ 95.2 $ (254.9) $ 167.2 |
Statement Of Cash Flows | Statement of Cash Flows Guarantor Nonguarantor Six month period ended April 2, 2017 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ 171.4 $ 227.2 $ 211.8 $ (597.7) $ 12.7 Cash flows from investing activities Purchases of property, plant and equipment (22.5) (10.8) (18.0) — (51.3) Proceeds from sales of property, plant and equipment — 0.2 0.6 — 0.8 Other investing activities — (1.2) — — (1.2) Net cash used by investing activities (22.5) (11.8) (17.4) — (51.7) Cash flows from financing activities Proceeds from issuance of debt 216.1 — — — 216.1 Payment of debt (140.8) — (10.8) — (151.6) Payment of debt issuance costs (2.7) — — — (2.7) Payment of cash dividends to parent (152.5) — — — (152.5) Advances related to intercompany transactions (162.5) (218.4) (216.8) 597.7 — Net cash (used) provided by financing activities (242.4) (218.4) (227.6) 597.7 (90.7) Effect of exchange rate changes on cash and cash equivalents — — (4.0) — (4.0) Net decrease in cash and cash equivalents (93.5) (3.0) (37.2) — (133.7) Cash and cash equivalents, beginning of period 98.6 3.1 169.1 — 270.8 Cash and cash equivalents, end of period $ 5.1 $ 0.1 $ 131.9 $ — $ 137.1 Statement of Cash Flows Guarantor Nonguarantor Six month period ended April 3, 2016 (in millions) Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash (used) provided by operating activities $ (557.4) $ 146.2 $ (346.4) $ 593.9 $ (163.7) Cash flows from investing activities — Purchases of property, plant and equipment (20.1) (6.4) (12.2) — (38.7) Proceeds from sales of property, plant and equipment 0.1 — 0.7 — 0.8 Net cash used by investing activities (20.0) (6.4) (11.5) — (37.9) Cash flows from financing activities Proceeds from issuance of debt 188.9 — — — 188.9 Payment of debt (47.0) — (1.1) — (48.1) Payment of debt issuance costs (1.6) — — — (1.6) Payment of cash dividends to parent (52.0) — — — (52.0) Advances related to intercompany transactions 480.4 (147.5) 261.0 (593.9) — Net cash provided (used) by financing activities 568.7 (147.5) 259.9 (593.9) 87.2 Effect of exchange rate changes on cash and cash equivalents — — (0.3) — (0.3) Net decrease in cash and cash equivalents (8.7) (7.7) (98.3) — (114.7) Cash and cash equivalents, beginning of period 13.0 8.6 226.3 — 247.9 Cash and cash equivalents, end of period $ 4.3 $ 0.9 $ 128.0 $ — $ 133.2 |
Significant Accounting Polici42
Significant Accounting Policies (Narrative) (Details) - Accounting Standards Update 2017-07 [Member] - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Significant Accounting Policies [Line Items] | ||
Net periodic benefit cost | $ 4.5 | |
Service cost | 2.9 | |
Other cost | $ 1.6 | |
Forecast [Member] | ||
Significant Accounting Policies [Line Items] | ||
Net periodic benefit cost | $ 7.6 | |
Service cost | 3.9 | |
Other cost | $ 3.8 |
Acquisition And Integration C43
Acquisition And Integration Costs (Summary Of Acquisition And Integration Related Charges) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Business Acquisition [Line Items] | ||||
Acquisition and integration related charges | $ 5.1 | $ 13.3 | $ 9.2 | $ 23.2 |
Armored AutoGroup [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition and integration related charges | 0.7 | 6.1 | 2.4 | 10.6 |
HHI Business Rationalization Initiative [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition and integration related charges | 2 | 4.8 | 3.8 | 7.6 |
Other [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition and integration related charges | $ 2.4 | $ 2.4 | $ 3 | $ 5 |
Restructuring And Related Cha44
Restructuring And Related Charges (Narrative) (Details) $ in Millions | Apr. 02, 2017USD ($) |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and related charges since initiative inception | $ 16.8 |
PET Rightsizing Initiative [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and related charges since initiative inception | 0.6 |
PET Rightsizing Initiative [Member] | Anticipated To Be Incurred Through December 31, 2017 [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Expected restructuring and related charges | 5 |
HHI Distribution Center Consolidation [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and related charges since initiative inception | 1.2 |
HHI Distribution Center Consolidation [Member] | Anticipated To Be Incurred Through September 30 2019 [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Expected restructuring and related charges | 11 |
GAC Business Rationalization Initiative [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and related charges since initiative inception | 12.3 |
GAC Business Rationalization Initiative [Member] | Anticipated To Be Incurred Through September 30 2017 [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Expected restructuring and related charges | $ 28 |
Restructuring And Related Cha45
Restructuring And Related Charges (Summary Of Restructuring And Related Charges) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | $ 8.2 | $ 1.6 | $ 11.5 | $ 2.8 |
HHI Distribution Center Consolidation [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 1.2 | 1.2 | ||
GAC Business Rationalization Initiative [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 5.5 | 7 | ||
PET Rightsizing Initiative [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 0.6 | 0.6 | ||
HHI Business Rationalization Initiative [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 0.3 | (0.4) | ||
Other Restructuring Activities [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 0.9 | 1.3 | 2.7 | 3.2 |
Cost of Goods Sold [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 4.1 | 0.2 | 5.3 | 0.3 |
Operating Expense [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | $ 4.1 | $ 1.4 | $ 6.2 | $ 2.5 |
Restructuring And Related Cha46
Restructuring And Related Charges (Summary Of Costs Incurred And Cumulative Costs By Cost Type) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | $ 8.2 | $ 1.6 | $ 11.5 | $ 2.8 |
Cumulative costs | 16.8 | 16.8 | ||
Future costs to be incurred | 29.1 | 29.1 | ||
Termination Benefits [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 1.4 | 0.7 | 3.3 | 1.7 |
Cumulative costs | 3.6 | 3.6 | ||
Future costs to be incurred | 10.3 | 10.3 | ||
Other Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 6.8 | $ 0.9 | 8.2 | $ 1.1 |
Cumulative costs | 13.2 | 13.2 | ||
Future costs to be incurred | $ 18.8 | $ 18.8 |
Restructuring And Related Cha47
Restructuring And Related Charges (Rollforward Of Restructuring Accrual) (Details) $ in Millions | 6 Months Ended |
Apr. 02, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at beginning | $ 2.6 |
Provisions | 11.5 |
Cash expenditures | (9.5) |
Non-cash items | (0.2) |
Accrual balance at ending | 4.4 |
Termination Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at beginning | 1.6 |
Provisions | 3.3 |
Cash expenditures | (2.5) |
Non-cash items | 1.2 |
Accrual balance at ending | 3.6 |
Other Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at beginning | 1 |
Provisions | 8.2 |
Cash expenditures | (7) |
Non-cash items | (1.4) |
Accrual balance at ending | $ 0.8 |
Restructuring And Related Cha48
Restructuring And Related Charges (Summary Of Costs Incurred By Reporting Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | $ 8.2 | $ 1.6 | $ 11.5 | $ 2.8 |
Cumulative costs | 16.8 | 16.8 | ||
Future costs to be incurred | 29.1 | 29.1 | ||
Global Batteries & Appliances [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 0.3 | 0.1 | 1.3 | 0.4 |
Cumulative costs | 1.3 | 1.3 | ||
Future costs to be incurred | 0.5 | 0.5 | ||
Global Pet Supplies [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 1 | 1.1 | 1.6 | 1.9 |
Cumulative costs | 1.6 | 1.6 | ||
Future costs to be incurred | 4.5 | 4.5 | ||
Hardware & Home Improvement [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 1.4 | $ 0.4 | 1.6 | $ 0.5 |
Cumulative costs | 1.6 | 1.6 | ||
Future costs to be incurred | 8.7 | 8.7 | ||
Global Auto Care [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and related charges | 5.5 | 7 | ||
Cumulative costs | 12.3 | 12.3 | ||
Future costs to be incurred | $ 15.4 | $ 15.4 |
Receivables And Concentration49
Receivables And Concentration Of Credit Risk (Narrative) (Details) $ in Millions | Apr. 02, 2017USD ($)customer | Sep. 30, 2016USD ($)customer |
Receivables and Concentration of Credit Risk [Line Items] | ||
Allowance for uncollectible receivables | $ | $ 45.3 | $ 46.8 |
Major Customer One [Member] | ||
Receivables and Concentration of Credit Risk [Line Items] | ||
Number of major customers accounting for a significant percentage of sales volume | customer | 1 | 1 |
Major Customer One [Member] | Trade Receivable [Member] | ||
Receivables and Concentration of Credit Risk [Line Items] | ||
Concentration risk | 17.00% | 15.00% |
Inventories (Schedule Of Invent
Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Inventories [Abstract] | ||
Raw materials | $ 147.1 | $ 127.5 |
Work-in-process | 54.9 | 43.6 |
Finished goods | 634.3 | 569.5 |
Inventories | $ 836.3 | $ 740.6 |
Property, Plant And Equipment51
Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 1,091 | $ 934.1 |
Accumulated depreciation | (430.2) | (392) |
Property, plant and equipment, net | 660.8 | 542.1 |
Land, Buildings And Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 196.6 | 195.8 |
Machinery, Equipment And Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 565.6 | 550.6 |
Capitalized Leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 249.7 | 130 |
Construction In Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 79.1 | $ 57.7 |
Goodwill And Intangible Asset52
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | Sep. 30, 2016 | |
Intangible Assets [Line Items] | |||||
Amortization expense | $ 23.4 | $ 23.4 | $ 47.1 | $ 47 | |
Tradenames [Member] | |||||
Intangible Assets [Line Items] | |||||
Indefinite-lived intangible assets | $ 1,463.7 | 1,463.7 | $ 1,473.5 | ||
Impairment of indefinite lived intangible assets | $ 0 | $ 0 |
Goodwill And Intangible Asset53
Goodwill And Intangible Assets (Changes In The Carrying Amount Of Goodwill By Reporting Segment) (Details) $ in Millions | 6 Months Ended |
Apr. 02, 2017USD ($) | |
Goodwill [Line Items] | |
As of September 30, 2016 | $ 2,478.4 |
Foreign currency impact | (4.6) |
As of April 2, 2017 | 2,473.8 |
Global Batteries & Appliances [Member] | |
Goodwill [Line Items] | |
As of September 30, 2016 | 345.1 |
Foreign currency impact | (2.5) |
As of April 2, 2017 | 342.6 |
Hardware & Home Improvement [Member] | |
Goodwill [Line Items] | |
As of September 30, 2016 | 702.8 |
Foreign currency impact | 0.1 |
As of April 2, 2017 | 702.9 |
Global Pet Supplies [Member] | |
Goodwill [Line Items] | |
As of September 30, 2016 | 299.8 |
Foreign currency impact | (2.1) |
As of April 2, 2017 | 297.7 |
Home and Garden [Member] | |
Goodwill [Line Items] | |
As of September 30, 2016 | 196.5 |
Foreign currency impact | |
As of April 2, 2017 | 196.5 |
Global Auto Care [Member] | |
Goodwill [Line Items] | |
As of September 30, 2016 | 934.2 |
Foreign currency impact | (0.1) |
As of April 2, 2017 | $ 934.1 |
Goodwill And Intangible Asset54
Goodwill And Intangible Assets (Schedule Of Carrying Value And Accumulated Amortization For Intangible Assets) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 1,380.8 | $ 1,387.7 |
Accumulated Amortization | (532) | (488.7) |
Net | 848.8 | 899 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 976.8 | 984.8 |
Accumulated Amortization | (327.2) | (302.9) |
Net | 649.6 | 681.9 |
Technology Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 238.2 | 237.2 |
Accumulated Amortization | (107.9) | (96.7) |
Net | 130.3 | 140.5 |
Tradenames [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 165.8 | 165.7 |
Accumulated Amortization | (96.9) | (89.1) |
Net | $ 68.9 | $ 76.6 |
Goodwill And Intangible Asset55
Goodwill And Intangible Assets (Schedule Of Range And Weighted Average Useful Lives For Definite-Lived Intangible Assets) (Details) | 6 Months Ended |
Apr. 02, 2017 | |
Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average | 18 years 6 months |
Customer Relationships [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 2 years |
Customer Relationships [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 20 years |
Technology Assets [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average | 11 years 2 months 12 days |
Technology Assets [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 5 years |
Technology Assets [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 18 years |
Tradenames [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Weighted average | 11 years 4 months 24 days |
Tradenames [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 5 years |
Tradenames [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Range | 13 years |
Goodwill And Intangible Asset56
Goodwill And Intangible Assets (Schedule Of Future Amortization Expense) (Details) $ in Millions | Apr. 02, 2017USD ($) |
Goodwill And Intangible Assets [Abstract] | |
2,017 | $ 91.9 |
2,018 | 85.7 |
2,019 | 85.4 |
2,020 | 85.2 |
2,021 | $ 81.9 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) € in Millions, $ in Millions | Apr. 07, 2017 | Mar. 06, 2017USD ($) | Mar. 05, 2017 | Oct. 06, 2016USD ($) | Apr. 02, 2017USD ($) | Oct. 20, 2016USD ($) | Sep. 30, 2016USD ($) | Sep. 20, 2016EUR (€) |
Debt Instrument [Line Items] | ||||||||
Interest expense | $ 1 | |||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Revolving credit facility | $ 700 | |||||||
Commitment fee | 0.35% | |||||||
Debt issuance costs | $ 2.6 | |||||||
Aggregate borrowing availability | $ 472.3 | |||||||
Outstanding letters of credit | $ 24.7 | |||||||
Maximum total leverage ratio | 6.00% | |||||||
Revolving Credit Facility [Member] | Extended Maturity [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maturity date | Mar. 1, 2022 | |||||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 2.25% | 1.75% | ||||||
Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 1.25% | 0.75% | ||||||
USD Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 0.75% | 0.75% | ||||||
Percentage over base variable rate | 2.50% | 2.00% | ||||||
USD Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 2.00% | |||||||
USD Term Loan [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1.75% | 1.75% | ||||||
Percentage over base variable rate | 1.50% | 1.00% | ||||||
USD Term Loan [Member] | Base Rate [Member] | Subsequent Event [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 1.00% | |||||||
CAD Term Loan [Member] | Canadian Dollor Offered Rate (CDOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 0.75% | |||||||
Percentage over base variable rate | 3.50% | |||||||
CAD Term Loan [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 1.75% | |||||||
Percentage over base variable rate | 2.50% | |||||||
Euro Term Loan [Member] | Euro Interbank Offered Rate (EURIBOR) [member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 0.75% | |||||||
Percentage over base variable rate | 2.75% | |||||||
Euro Term Loan [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 0.00% | |||||||
4.00% Notes, Due October 1, 2026 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 4.00% | |||||||
Maturity date | Oct. 1, 2026 | |||||||
Notes | $ 453.7 | $ 477 | € 425 | |||||
5.75% Notes, Due July 15, 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 5.75% | |||||||
Maturity date | Jul. 15, 2025 | |||||||
Notes | $ 1,000 | 1,000 | ||||||
6.125% Notes, Due December 15, 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.125% | |||||||
Maturity date | Dec. 15, 2024 | |||||||
Notes | $ 250 | 250 | ||||||
6.625% Notes, Due November 15, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.625% | |||||||
Maturity date | Nov. 15, 2022 | |||||||
Notes | $ 570 | 570 | ||||||
6.375% Notes, Due November 15, 2020 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate | 6.375% | |||||||
Maturity date | Nov. 15, 2020 | |||||||
Redeemed outstanding aggregate principal | $ 129.7 | |||||||
Interest expense | $ 1.9 | |||||||
Notes | 129.7 | |||||||
6.375% Notes, Due November 15, 2020 [Member] | Premium [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest expense | $ 4.6 | |||||||
Minimum [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 1.75% | |||||||
Minimum [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 0.75% | |||||||
Maximum [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 2.25% | |||||||
Maximum [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Percentage over base variable rate | 1.25% | |||||||
SB/RH Holdings, LLC [Member] | 4.00% Notes, Due October 1, 2026 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 453.7 | 477 | ||||||
SB/RH Holdings, LLC [Member] | 5.75% Notes, Due July 15, 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | 1,000 | 1,000 | ||||||
SB/RH Holdings, LLC [Member] | 6.125% Notes, Due December 15, 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | 250 | 250 | ||||||
SB/RH Holdings, LLC [Member] | 6.625% Notes, Due November 15, 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | 570 | 570 | ||||||
SB/RH Holdings, LLC [Member] | 6.375% Notes, Due November 15, 2020 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes | $ 129.7 | |||||||
Foreign Subsidiary [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Outstanding letters of credit | $ 1.5 |
Debt (Schedule Of Debt) (Detail
Debt (Schedule Of Debt) (Details) € in Millions, $ in Millions | 6 Months Ended | ||
Apr. 02, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 20, 2016EUR (€) | |
Debt Instrument [Line Items] | |||
Total debt | $ 3,839.5 | $ 3,681.6 | |
Unamortized discount on debt | (4.2) | (4.5) | |
Debt issuance costs | (54.5) | (56.9) | |
Less current portion | (35) | (164) | |
Long-term debt, net of current portion | 3,745.8 | 3,456.2 | |
SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Total debt | 3,839.5 | 3,681.6 | |
Unamortized discount on debt | (4.2) | (4.5) | |
Debt issuance costs | (54.5) | (56.9) | |
Less current portion | (35) | (164) | |
Long-term debt, net of current portion | 3,745.8 | 3,456.2 | |
Expiring March 6, 2022 [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Revolver facility | $ 201.5 | ||
Rate | 3.30% | ||
Maturity date | Mar. 6, 2022 | ||
Expiring March 6, 2022 [Member] | SB/RH Holdings, LLC [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Revolver facility | $ 201.5 | ||
Rate | 3.30% | ||
USD Term Loan [Member] | Due June 23, 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Term loan | $ 1,000.4 | $ 1,005.5 | |
Rate | 2.90% | 3.60% | |
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 | $ 1,000.4 | $ 1,005.5 | |
Rate | 2.90% | 3.60% | |
CAD Term Loan [Member] | Due June 23, 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Term loan | $ 53.8 | $ 54.9 | |
Rate | 4.50% | 4.60% | |
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 | $ 53.8 | $ 54.9 | |
Rate | 4.50% | 4.60% | |
Euro Term Loan [Member] | Due June 23, 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Term loan | $ 59.7 | $ 63 | |
Rate | 3.50% | 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 | $ 59.7 | $ 63 | |
Rate | 3.50% | 3.50% | |
4.00% Notes, Due October 1, 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 453.7 | $ 477 | € 425 |
Rate | 4.00% | 4.00% | |
Interest rate | 4.00% | ||
Maturity date | Oct. 1, 2026 | ||
4.00% Notes, Due October 1, 2026 [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 453.7 | $ 477 | |
Rate | 4.00% | 4.00% | |
5.75% Notes, Due July 15, 2025 [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 1,000 | $ 1,000 | |
Rate | 5.80% | 5.80% | |
Interest rate | 5.75% | ||
Maturity date | Jul. 15, 2025 | ||
5.75% Notes, Due July 15, 2025 [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 1,000 | $ 1,000 | |
Rate | 5.80% | 5.80% | |
6.125% Notes, Due December 15, 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 250 | $ 250 | |
Rate | 6.10% | 6.10% | |
Interest rate | 6.125% | ||
Maturity date | Dec. 15, 2024 | ||
6.125% Notes, Due December 15, 2024 [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 250 | $ 250 | |
Rate | 6.10% | 6.10% | |
6.375% Notes, Due November 15, 2020 [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 129.7 | ||
Rate | 6.40% | ||
Interest rate | 6.375% | ||
Maturity date | Nov. 15, 2020 | ||
6.375% Notes, Due November 15, 2020 [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 129.7 | ||
Rate | 6.40% | ||
6.625% Notes, Due November 15, 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 570 | $ 570 | |
Rate | 6.60% | 6.60% | |
Interest rate | 6.625% | ||
Maturity date | Nov. 15, 2022 | ||
6.625% Notes, Due November 15, 2022 [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Notes | $ 570 | $ 570 | |
Rate | 6.60% | 6.60% | |
Other Notes And Obligations [Member] | |||
Debt Instrument [Line Items] | |||
Other notes and obligations | $ 20.5 | $ 16.8 | |
Rate | 9.60% | 9.80% | |
Other Notes And Obligations [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Other notes and obligations | $ 20.5 | $ 16.8 | |
Rate | 9.60% | 9.80% | |
Obligations Under Capital Leases [Member] | |||
Debt Instrument [Line Items] | |||
Obligations under capital leases | $ 229.9 | $ 114.7 | |
Rate | 5.70% | 5.50% | |
Obligations Under Capital Leases [Member] | SB/RH Holdings, LLC [Member] | |||
Debt Instrument [Line Items] | |||
Obligations under capital leases | $ 229.9 | $ 114.7 | |
Rate | 5.70% | 5.50% |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) € in Millions, $ in Millions | Apr. 02, 2017USD ($) | Jan. 01, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 20, 2016EUR (€) |
4.00% Notes, Due October 1, 2026 [Member] | ||||
Derivative [Line Items] | ||||
Notes | $ 453.7 | $ 477 | € 425 | |
Interest rate | 4.00% | |||
Cash Flow Hedging [Member] | Commodity Swaps [Member] | ||||
Derivative [Line Items] | ||||
Derivative net gains estimated to be reclassified from AOCI into earnings over the next 12 months | $ 2.6 | |||
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional value | 252.9 | 224.8 | ||
Derivative net gains estimated to be reclassified from AOCI into earnings over the next 12 months | 2.2 | |||
Fair Value Hedging [Member] | ||||
Derivative [Line Items] | ||||
Posted cash collateral | $ 0 | 0 | ||
Posted standby letters of credit | $ 0 | 0 | ||
Net Investment Hedge [Member] | 4.00% Notes, Due October 1, 2026 [Member] | ||||
Derivative [Line Items] | ||||
Notes | € | € 425 | |||
Interest rate | 4.00% | |||
Not Designated as Hedging [Member] | Foreign Exchange Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional value | 202.4 | 131.4 | ||
Maximum [Member] | Fair Value Hedging [Member] | ||||
Derivative [Line Items] | ||||
Credit reserve on derivative assets | $ 0.1 | $ 0.1 |
Derivatives (Schedule Of Commod
Derivatives (Schedule Of Commodity Swap Contracts Outstanding) (Details) $ in Millions | 6 Months Ended | 12 Months Ended |
Apr. 02, 2017USD ($)oztT | Sep. 30, 2016USD ($)oztT | |
Zinc [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | T | 6.8 | 6.7 |
Contract Value | $ 15.7 | $ 12.8 |
Brass [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | T | 1.4 | 1 |
Contract Value | $ 6.1 | $ 4 |
Silver [Member] | Not Designated as Hedging [Member] | ||
Derivative [Line Items] | ||
Notional | ozt | 10.4 | 31 |
Contract Value | $ 0.2 | $ 0.6 |
Derivatives (Schedule Of Fair V
Derivatives (Schedule Of Fair Value Of Outstanding Derivative Instruments) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets | $ 8.9 | $ 8.7 |
Derivative liabilities | 2.2 | 3.2 |
Interest Rate Swaps [Member] | Other Current Liabilities [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0.7 | |
Interest Rate Swaps [Member] | Accrued Interest [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0.4 | |
Commodity Swaps [Member] | Receivables - Other [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 4.1 | 2.9 |
Commodity Swaps [Member] | Deferred Charges And Other [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 0.2 | |
Commodity Swaps [Member] | Accounts Payable [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0.1 | 0.1 |
Foreign Exchange Contracts [Member] | Receivables - Other [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 4.1 | 5.5 |
Foreign Exchange Contracts [Member] | Receivables - Other [Member] | Not Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 0.4 | 0.2 |
Foreign Exchange Contracts [Member] | Deferred Charges And Other [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 0.1 | 0.1 |
Foreign Exchange Contracts [Member] | Accounts Payable [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 1.3 | 1.7 |
Foreign Exchange Contracts [Member] | Accounts Payable [Member] | Not Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 0.6 | 0.2 |
Foreign Exchange Contracts [Member] | Other Long-term Liabilities [Member] | Designated as Hedging [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | $ 0.2 | $ 0.1 |
Derivatives (Summary Of Impact
Derivatives (Summary Of Impact Of Effective And Ineffective Portions Of Cash Flow Hedges And Gain (Loss) Recognized) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | $ (11.6) | $ (5.5) | $ 32.8 | $ (0.8) |
Effective Portion, Gain (Loss) Reclassified to Earnings | 3.8 | 0.7 | 8.6 | 0.9 |
Other Non-operating [Member] | Net Investment Hedge [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | (9.1) | 23.3 | ||
Interest Rate Swaps [Member] | Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | (0.4) | (0.7) | (0.3) | (0.3) |
Effective Portion, Gain (Loss) Reclassified to Earnings | (0.7) | (0.5) | (1) | (1) |
Commodity Swaps [Member] | Cost of Goods Sold [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | 2.4 | 1.8 | 3.8 | 0.8 |
Effective Portion, Gain (Loss) Reclassified to Earnings | 1.7 | (1.6) | 2.5 | (3) |
Foreign Exchange Contracts [Member] | Net Sales [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | (0.1) | 0.1 | (0.1) | |
Foreign Exchange Contracts [Member] | Cost of Goods Sold [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Effective Portion, Gain (Loss) in OCI | (4.4) | (6.6) | 5.9 | (1.2) |
Effective Portion, Gain (Loss) Reclassified to Earnings | $ 2.8 | $ 2.8 | $ 7.1 | $ 4.9 |
Derivatives (Summary Of Gain (L
Derivatives (Summary Of Gain (Loss) Associated With Derivative Contracts Not Designated As Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives recognized in operations | $ (2.1) | $ 2.9 | $ (1.3) | $ 0.8 |
Commodity Swaps [Member] | Cost of Goods Sold [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives recognized in operations | 0.1 | |||
Foreign Exchange Contracts [Member] | Other Non-operating [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) on derivatives recognized in operations | $ (2.1) | $ 2.9 | $ (1.4) | $ 0.8 |
Fair Value Of Financial Instr64
Fair Value Of Financial Instruments (Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | $ 8.9 | $ 8.7 |
Derivative Liabilities | 2.2 | 3.2 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 8.9 | 8.7 |
Derivative Liabilities | $ 2.2 | $ 3.2 |
Fair Value Of Financial Instr65
Fair Value Of Financial Instruments (Carrying Values And Fair Values For Debt) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 |
Carrying Amount [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | $ 3,780.8 | $ 3,620.2 |
Fair Value [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | 3,974.6 | 3,865.1 |
SB/RH Holdings, LLC [Member] | Carrying Amount [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | 3,780.8 | 3,620.2 |
SB/RH Holdings, LLC [Member] | Fair Value [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | $ 3,974.6 | $ 3,865.1 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Employee Benefit Plans [Abstract] | ||||
Company contributions to pension and deferred compensation plans, including discretionary amounts | $ 2.1 | $ 2.3 | $ 3.4 | $ 5.9 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
U.S. Plans [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | $ 0.1 | $ 0.1 | $ 0.2 | $ 0.1 |
Interest cost | 0.6 | 0.7 | 1.3 | 1.5 |
Expected return on assets | (1.1) | (1.1) | (2.2) | (2.2) |
Recognized net actuarial loss | 0.4 | 0.1 | 0.8 | 0.3 |
Net periodic benefit cost | (0.2) | $ 0.1 | $ (0.3) | |
Weighted average assumptions | ||||
Discount rate | 3.50% | 4.25% | ||
Expected return on plan assets | 7.00% | 7.25% | ||
Non U.S. Plans [Member] | ||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | 0.8 | 0.7 | $ 1.7 | $ 1.3 |
Interest cost | 1 | 1.5 | 2.1 | 3.1 |
Expected return on assets | (1) | (1.2) | (2) | (2.4) |
Recognized net actuarial loss | 1 | 0.4 | 1.9 | 0.9 |
Net periodic benefit cost | $ 1.8 | $ 1.4 | $ 3.7 | $ 2.9 |
Non U.S. Plans [Member] | Minimum [Member] | ||||
Weighted average assumptions | ||||
Discount rate | 1.00% | 1.75% | ||
Expected return on plan assets | 2.25% | 1.75% | ||
Rate of compensation increase | 1.00% | 2.25% | ||
Non U.S. Plans [Member] | Maximum [Member] | ||||
Weighted average assumptions | ||||
Discount rate | 13.50% | 13.81% | ||
Expected return on plan assets | 7.00% | 4.53% | ||
Rate of compensation increase | 3.70% | 5.50% |
Share Based Compensation (Narra
Share Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation expense | $ 14.3 | $ 21.5 | $ 23 | $ 31.6 |
Remaining unrecognized pre-tax compensation cost | 43.9 | $ 43.9 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 0.7 | |||
Total market value of RSUs granted | $ 87.5 | |||
SB/RH Holdings, LLC [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share based compensation expense | 13.5 | $ 20.2 | 21.3 | $ 28.8 |
Remaining unrecognized pre-tax compensation cost | $ 42.7 | $ 42.7 | ||
SB/RH Holdings, LLC [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares granted | 0.6 | |||
Total market value of RSUs granted | $ 86 |
Share Based Compensation (Summa
Share Based Compensation (Summary Of Non-Vested RSUs Activity) (Details) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, shares in Millions, $ in Millions | 6 Months Ended |
Apr. 02, 2017USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Beginning balance, Shares | shares | 0.6 |
Granted, Shares | shares | 0.7 |
Forfeited, Shares | shares | |
Vested, Shares | shares | (0.5) |
Ending balance, Shares | shares | 0.8 |
Beginning balance, Weighted Average Grant Date Fair Value | $ / shares | $ 94.97 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 126.96 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 116.13 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 109.09 |
Ending balance, Weighted Average Grant Date Fair Value | $ / shares | $ 114.46 |
Beginning balance, Fair Value at Grant Date | $ | $ 54.8 |
Granted, Fair Value at Grant Date | $ | 87.5 |
Forfeited, Fair Value at Grant Date | $ | (0.8) |
Vested, Fair Value at Grant Date | $ | (53.5) |
Ending balance, Fair Value at Grant Date | $ | $ 88 |
SB/RH Holdings, LLC [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Beginning balance, Shares | shares | 0.5 |
Granted, Shares | shares | 0.6 |
Forfeited, Shares | shares | |
Vested, Shares | shares | (0.4) |
Ending balance, Shares | shares | 0.7 |
Beginning balance, Weighted Average Grant Date Fair Value | $ / shares | $ 96.92 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 126.81 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 116.13 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 112.13 |
Ending balance, Weighted Average Grant Date Fair Value | $ / shares | $ 116.08 |
Beginning balance, Fair Value at Grant Date | $ | $ 45.3 |
Granted, Fair Value at Grant Date | $ | 86 |
Forfeited, Fair Value at Grant Date | $ | (0.8) |
Vested, Fair Value at Grant Date | $ | (47.4) |
Ending balance, Fair Value at Grant Date | $ | $ 83.1 |
Accumulated Other Comprehensi70
Accumulated Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive (loss) income, as of | $ (229.4) | |||
Other comprehensive (loss) income before reclassification | 6.4 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (6) | |||
Other comprehensive (loss) income | 0.4 | |||
Deferred tax effect | (7.3) | |||
Deferred tax valuation allowance | ||||
Other comprehensive (loss) income, net of tax | $ 11.7 | $ 24.7 | (6.9) | $ 9 |
Other comprehensive loss attributable to non-controlling interest | (0.2) | |||
Other comprehensive (loss) income attributable to controlling interest | (6.7) | |||
Accumulated other comprehensive (loss) income, as of | (236.1) | (236.1) | ||
Foreign Currency Translation [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive (loss) income, as of | (160.5) | |||
Other comprehensive (loss) income before reclassification | (27.9) | |||
Amounts reclassified from accumulated other comprehensive income (loss) | ||||
Other comprehensive (loss) income | (27.9) | |||
Deferred tax effect | 3.5 | |||
Deferred tax valuation allowance | ||||
Other comprehensive (loss) income, net of tax | (24.4) | |||
Other comprehensive loss attributable to non-controlling interest | (0.2) | |||
Other comprehensive (loss) income attributable to controlling interest | (24.2) | |||
Accumulated other comprehensive (loss) income, as of | (184.7) | (184.7) | ||
Hedging Activity [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive (loss) income, as of | 3.1 | |||
Other comprehensive (loss) income before reclassification | 32.8 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (8.6) | |||
Other comprehensive (loss) income | 24.2 | |||
Deferred tax effect | (9.7) | |||
Deferred tax valuation allowance | ||||
Other comprehensive (loss) income, net of tax | 14.5 | |||
Other comprehensive loss attributable to non-controlling interest | ||||
Other comprehensive (loss) income attributable to controlling interest | 14.5 | |||
Accumulated other comprehensive (loss) income, as of | 17.6 | 17.6 | ||
Employee Benefit Plans [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated other comprehensive (loss) income, as of | (72) | |||
Other comprehensive (loss) income before reclassification | 1.5 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | 2.6 | |||
Other comprehensive (loss) income | 4.1 | |||
Deferred tax effect | (1.1) | |||
Deferred tax valuation allowance | ||||
Other comprehensive (loss) income, net of tax | 3 | |||
Other comprehensive loss attributable to non-controlling interest | ||||
Other comprehensive (loss) income attributable to controlling interest | 3 | |||
Accumulated other comprehensive (loss) income, as of | $ (69) | $ (69) |
Accumulated Other Comprehensi71
Accumulated Other Comprehensive Income (Loss) (Schedule Of Reclassified From AOCL Associated With Employee Benefit Plan Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Selling expenses | $ 187.4 | $ 189.5 | $ 377.2 | $ 376.6 |
General and administrative expenses | 99.4 | 95.6 | 187.9 | 181.9 |
Amounts reclassified from accumulated other comprehensive income | 6 | |||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Employee Benefit Plan [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cost of goods sold | 0.8 | 0.4 | 1.6 | 0.7 |
Selling expenses | 0.2 | 0.1 | 0.4 | 0.2 |
General and administrative expenses | 0.3 | 0.1 | 0.6 | 0.3 |
Amounts reclassified from accumulated other comprehensive income | $ 1.3 | $ 0.6 | $ 2.6 | $ 1.2 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Apr. 02, 2017 | Apr. 03, 2016 | |
Income Taxes [Abstract] | ||
U.S. federal statutory rate | 35.00% | |
Reduced amount on net deferred tax liabilities relating to tax law changes | $ 5.9 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Tax Rate) (Details) | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Income Taxes [Line Items] | ||||
Effective tax rate | 36.10% | (2.80%) | 34.10% | 2.60% |
SB/RH Holdings, LLC [Member] | ||||
Income Taxes [Line Items] | ||||
Effective tax rate | 36.10% | 9.80% | 34.60% | 9.10% |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 6 Months Ended |
Apr. 02, 2017segment | |
Segment Information [Abstract] | |
Number of reporting segments | 5 |
Segment Information (Net Sales
Segment Information (Net Sales Relating To Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Revenue from External Customer [Line Items] | ||||
Net sales | $ 1,169.9 | $ 1,209.6 | $ 2,381.7 | $ 2,428.4 |
SB/RH Holdings, LLC [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 1,169.9 | 1,209.6 | 2,381.7 | 2,428.4 |
Global Batteries & Appliances [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 413.5 | 424.9 | 1,023 | 1,036.2 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 413.5 | 424.9 | 1,023 | 1,036.2 |
Hardware & Home Improvement [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 313.7 | 301.7 | 602.5 | 584.3 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 313.7 | 301.7 | 602.5 | 584.3 |
Global Pet Supplies [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 191.8 | 208.5 | 386 | 411.9 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 191.8 | 208.5 | 386 | 411.9 |
Home and Garden [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 131.9 | 155 | 181.7 | 202.7 |
Home and Garden [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 131.9 | 155 | 181.7 | 202.7 |
Global Auto Care [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 119 | 119.5 | 188.5 | 193.3 |
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 119 | 119.5 | 188.5 | 193.3 |
Consumer Batteries [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 185.2 | 178.2 | 445.7 | 430.8 |
Consumer Batteries [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 185.2 | 178.2 | 445.7 | 430.8 |
Small Appliances [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 123.6 | 138.3 | 310 | 328.2 |
Small Appliances [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 123.6 | 138.3 | 310 | 328.2 |
Personal Care [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | 104.7 | 108.4 | 267.3 | 277.2 |
Personal Care [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Net sales | $ 104.7 | $ 108.4 | $ 267.3 | $ 277.2 |
Segment Information (Segment Pr
Segment Information (Segment Profit Relating To Segments) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | $ 144.1 | $ 148.5 | $ 295.2 | $ 291 |
Depreciation and amortization | 47.6 | 44.7 | 93.7 | 91.4 |
Share based compensation | 14.3 | 21.5 | 23 | 31.6 |
Corporate expenses | 9.3 | 6.5 | 19.5 | 14.1 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 8.2 | 1.6 | 11.5 | 2.8 |
Interest expense | 50.6 | 57.5 | 106.4 | 115.9 |
Other | 2.6 | 0.8 | 2.6 | 1 |
Income from operations before income taxes | 91.7 | 90.2 | 188 | 170.8 |
Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 229.4 | 236.1 | 453.9 | 450.8 |
SB/RH Holdings, LLC [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 147.6 | 149.9 | 299.8 | 294.2 |
Depreciation and amortization | 47.6 | 44.7 | 93.7 | 91.4 |
Share based compensation | 13.5 | 20.2 | 21.3 | 28.8 |
Corporate expenses | 9.2 | 6.3 | 19.2 | 13.5 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 8.2 | 1.6 | 11.5 | 2.8 |
Interest expense | 50.7 | 57.5 | 106.7 | 115.9 |
Other | 0.9 | 1.2 | ||
Income from operations before income taxes | 95.1 | 91.6 | 192.3 | 174 |
SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 229.4 | 236.1 | 453.9 | 450.8 |
Global Batteries & Appliances [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Restructuring and related charges | 0.3 | 0.1 | 1.3 | 0.4 |
Global Batteries & Appliances [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 59.9 | 58.3 | 168.9 | 163.8 |
Global Batteries & Appliances [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 59.9 | 58.3 | 168.9 | 163.8 |
Hardware & Home Improvement [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Restructuring and related charges | 1.4 | 0.4 | 1.6 | 0.5 |
Hardware & Home Improvement [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 56.6 | 53.6 | 115.8 | 107.3 |
Hardware & Home Improvement [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 56.6 | 53.6 | 115.8 | 107.3 |
Global Pet Supplies [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Restructuring and related charges | 1 | 1.1 | 1.6 | 1.9 |
Global Pet Supplies [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 31.9 | 31.4 | 62.7 | 60.6 |
Global Pet Supplies [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 31.9 | 31.4 | 62.7 | 60.6 |
Home and Garden [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 35.6 | 44.2 | 41.3 | 51.3 |
Home and Garden [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 35.6 | 44.2 | 41.3 | 51.3 |
Global Auto Care [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Restructuring and related charges | 5.5 | 7 | ||
Global Auto Care [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | 45.4 | 48.6 | 65.2 | 67.8 |
Global Auto Care [Member] | SB/RH Holdings, LLC [Member] | Operating Segments [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Total Segment Adjusted EBITDA | $ 45.4 | $ 48.6 | $ 65.2 | $ 67.8 |
Earnings Per Share - SBH (Sched
Earnings Per Share - SBH (Schedule Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Numerator | ||||
Net income attributable to controlling interest | $ 58.8 | $ 92.6 | $ 124.1 | $ 166.2 |
Denominator | ||||
Weighted average shares outstanding - basic | 58.8 | 59.4 | 59.1 | 59.3 |
Dilutive shares | 0.2 | 0.1 | 0.2 | 0.1 |
Weighted average shares outstanding - diluted | 59 | 59.5 | 59.3 | 59.4 |
Earnings per share | ||||
Basic earnings per share | $ 1 | $ 1.56 | $ 2.10 | $ 2.80 |
Diluted earnings per share | $ 1 | $ 1.55 | $ 2.09 | $ 2.79 |
Weighted average number of anti-dilutive shares excluded from denominator | ||||
Restricted stock units | 0.4 | 0.4 | 0.4 | 0.4 |
Guarantor Statements - SB_RH (N
Guarantor Statements - SB/RH (Narrative) (Details) | Apr. 02, 2017 |
6.625% Notes, Due November 15, 2022 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Interest rate | 6.625% |
6.125% Notes, Due December 15, 2024 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Interest rate | 6.125% |
5.75% Notes, Due July 15, 2025 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Interest rate | 5.75% |
4.00% Notes, Due October 1, 2026 [Member] | |
Condensed Financial Statements, Captions [Line Items] | |
Interest rate | 4.00% |
Guarantor Statements - SB_RH (S
Guarantor Statements - SB/RH (Statement Of Financial Position) (Details) - USD ($) $ in Millions | Apr. 02, 2017 | Sep. 30, 2016 | Apr. 03, 2016 | Sep. 30, 2015 |
Current assets: | ||||
Cash and cash equivalents | $ 137.2 | $ 275.3 | $ 133.3 | $ 247.9 |
Trade receivables, net | 528.5 | 482.6 | ||
Other receivables | 44.3 | 55.6 | ||
Inventories | 836.3 | 740.6 | ||
Prepaid expenses and other | 88.8 | 78.8 | ||
Total current assets | 1,635.1 | 1,632.9 | ||
Property, plant and equipment, net | 660.8 | 542.1 | ||
Deferred charges and other | 47.2 | 43.2 | ||
Goodwill | 2,473.8 | 2,478.4 | ||
Intangible assets, net | 2,312.5 | 2,372.5 | ||
Total assets | 7,129.4 | 7,069.1 | ||
Current liabilities: | ||||
Current portion of long-term debt | 35 | 164 | ||
Accounts payable | 525 | 580.1 | ||
Accrued wages and salaries | 64.6 | 122.9 | ||
Accrued interest | 37.2 | 39.3 | ||
Other current liabilities | 176.3 | 189.3 | ||
Total current liabilities | 838.1 | 1,095.6 | ||
Long-term debt, net of current portion | 3,745.8 | 3,456.2 | ||
Deferred income taxes | 577.7 | 532.7 | ||
Other long-term liabilities | 131.2 | 140.6 | ||
Total liabilities | 5,292.8 | 5,225.1 | ||
Shareholders' equity: | ||||
Accumulated (deficit) earnings | 139.9 | 63.6 | ||
Accumulated other comprehensive (loss) income | (236.1) | (229.4) | ||
Total shareholder's equity | 1,793.1 | 1,800.1 | ||
Noncontrolling interest | 43.5 | 43.9 | ||
Total equity | 1,836.6 | 1,844 | ||
Total liabilities and equity | 7,129.4 | 7,069.1 | ||
Eliminations [Member] | ||||
Current assets: | ||||
Intercompany receivables | (1,048.7) | (1,142.5) | ||
Other receivables | (0.6) | (6.2) | ||
Inventories | (20.2) | (17.6) | ||
Prepaid expenses and other | 0.1 | (0.5) | ||
Total current assets | (1,069.4) | (1,166.8) | ||
Long-term intercompany receivables | (337.4) | (566.4) | ||
Deferred charges and other | (220.3) | (190.8) | ||
Investments in subsidiaries | (4,847.6) | (4,753) | ||
Total assets | (6,474.7) | (6,677) | ||
Current liabilities: | ||||
Current portion of long-term debt | (0.9) | |||
Intercompany accounts payable | (1,056.9) | (1,157) | ||
Other current liabilities | (0.6) | (6.2) | ||
Total current liabilities | (1,057.5) | (1,164.1) | ||
Long-term intercompany debt | (329) | (551.5) | ||
Deferred income taxes | (225.8) | (195.8) | ||
Total liabilities | (1,612.3) | (1,911.4) | ||
Shareholders' equity: | ||||
Other capital | 761.2 | 741.7 | ||
Accumulated (deficit) earnings | (6,072.5) | (5,913.6) | ||
Accumulated other comprehensive (loss) income | 448.9 | 406.3 | ||
Total shareholder's equity | (4,862.4) | (4,765.6) | ||
Total equity | (4,862.4) | (4,765.6) | ||
Total liabilities and equity | (6,474.7) | (6,677) | ||
Parent [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 5.1 | 98.6 | 4.3 | 13 |
Trade receivables, net | 190.7 | 179.5 | ||
Other receivables | 7 | |||
Inventories | 383 | 372.8 | ||
Prepaid expenses and other | 41.4 | 42.8 | ||
Total current assets | 627.2 | 693.7 | ||
Property, plant and equipment, net | 329.2 | 241.1 | ||
Long-term intercompany receivables | 210 | 365.4 | ||
Deferred charges and other | 210.6 | 180.5 | ||
Goodwill | 912.1 | 912.1 | ||
Intangible assets, net | 1,312 | 1,341.5 | ||
Investments in subsidiaries | 3,562.6 | 3,497.8 | ||
Total assets | 7,163.7 | 7,232.1 | ||
Current liabilities: | ||||
Current portion of long-term debt | 13.3 | 143.6 | ||
Accounts payable | 202.7 | 257.5 | ||
Intercompany accounts payable | 1,056.9 | 1,157 | ||
Accrued wages and salaries | 23.8 | 63.9 | ||
Accrued interest | 37.2 | 39.3 | ||
Other current liabilities | 65.1 | 88 | ||
Total current liabilities | 1,399 | 1,749.3 | ||
Long-term debt, net of current portion | 3,662.6 | 3,402.5 | ||
Long-term intercompany debt | 11.7 | 12.8 | ||
Deferred income taxes | 236 | 189 | ||
Other long-term liabilities | 18.8 | 39.5 | ||
Total liabilities | 5,328.1 | 5,393.1 | ||
Shareholders' equity: | ||||
Other capital | 2,090.8 | 2,060.9 | ||
Accumulated (deficit) earnings | (18.4) | 8 | ||
Accumulated other comprehensive (loss) income | (236.8) | (229.9) | ||
Total shareholder's equity | 1,835.6 | 1,839 | ||
Total equity | 1,835.6 | 1,839 | ||
Total liabilities and equity | 7,163.7 | 7,232.1 | ||
Guarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 0.1 | 3.1 | 0.9 | 8.6 |
Trade receivables, net | 132 | 68.7 | ||
Intercompany receivables | 810.6 | 909.1 | ||
Other receivables | 2.6 | 5.5 | ||
Inventories | 186.5 | 104.3 | ||
Prepaid expenses and other | 9 | 4.4 | ||
Total current assets | 1,140.8 | 1,095.1 | ||
Property, plant and equipment, net | 112.2 | 77.6 | ||
Long-term intercompany receivables | 114.5 | 187.3 | ||
Deferred charges and other | 0.9 | 0.9 | ||
Goodwill | 1,154.5 | 1,154.5 | ||
Intangible assets, net | 619.7 | 628.5 | ||
Investments in subsidiaries | 1,287.9 | 1,258.1 | ||
Total assets | 4,430.5 | 4,402 | ||
Current liabilities: | ||||
Current portion of long-term debt | 1.3 | 1.4 | ||
Accounts payable | 103.9 | 58.4 | ||
Accrued wages and salaries | 2.8 | 6.6 | ||
Other current liabilities | 15.5 | 11 | ||
Total current liabilities | 123.5 | 77.4 | ||
Long-term debt, net of current portion | 50.1 | 20.5 | ||
Long-term intercompany debt | 200.6 | 346.1 | ||
Deferred income taxes | 487.4 | 459.2 | ||
Other long-term liabilities | 6.3 | 1 | ||
Total liabilities | 867.9 | 904.2 | ||
Shareholders' equity: | ||||
Other capital | 140.1 | 152.3 | ||
Accumulated (deficit) earnings | 3,650 | 3,551.6 | ||
Accumulated other comprehensive (loss) income | (227.5) | (206.1) | ||
Total shareholder's equity | 3,562.6 | 3,497.8 | ||
Total equity | 3,562.6 | 3,497.8 | ||
Total liabilities and equity | 4,430.5 | 4,402 | ||
Nonguarantor Subsidiaries [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 131.9 | 169.1 | 128 | 226.3 |
Trade receivables, net | 205.8 | 234.4 | ||
Intercompany receivables | 238.1 | 233.4 | ||
Other receivables | 33.8 | 56.3 | ||
Inventories | 287 | 281.1 | ||
Prepaid expenses and other | 38.3 | 32.1 | ||
Total current assets | 934.9 | 1,006.4 | ||
Property, plant and equipment, net | 219.4 | 223.4 | ||
Long-term intercompany receivables | 12.9 | 13.7 | ||
Deferred charges and other | 42.3 | 41.5 | ||
Goodwill | 407.2 | 411.8 | ||
Intangible assets, net | 380.8 | 402.5 | ||
Investments in subsidiaries | (2.9) | (2.9) | ||
Total assets | 1,994.6 | 2,096.4 | ||
Current liabilities: | ||||
Current portion of long-term debt | 20.4 | 19.9 | ||
Accounts payable | 218.4 | 264.2 | ||
Accrued wages and salaries | 38 | 52.4 | ||
Other current liabilities | 94.1 | 95.5 | ||
Total current liabilities | 370.9 | 432 | ||
Long-term debt, net of current portion | 33.1 | 33.2 | ||
Long-term intercompany debt | 116.7 | 192.6 | ||
Deferred income taxes | 79.9 | 80.3 | ||
Other long-term liabilities | 106.1 | 100.1 | ||
Total liabilities | 706.7 | 838.2 | ||
Shareholders' equity: | ||||
Other capital | (963.3) | (954) | ||
Accumulated (deficit) earnings | 2,422.5 | 2,362.1 | ||
Accumulated other comprehensive (loss) income | (220.7) | (199.7) | ||
Total shareholder's equity | 1,238.5 | 1,208.4 | ||
Noncontrolling interest | 49.4 | 49.8 | ||
Total equity | 1,287.9 | 1,258.2 | ||
Total liabilities and equity | 1,994.6 | 2,096.4 | ||
SB/RH Holdings, LLC [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 137.1 | 270.8 | $ 133.2 | $ 247.9 |
Trade receivables, net | 528.5 | 482.6 | ||
Other receivables | 42.8 | 55.6 | ||
Inventories | 836.3 | 740.6 | ||
Prepaid expenses and other | 88.8 | 78.8 | ||
Total current assets | 1,633.5 | 1,628.4 | ||
Property, plant and equipment, net | 660.8 | 542.1 | ||
Deferred charges and other | 33.5 | 32.1 | ||
Goodwill | 2,473.8 | 2,478.4 | ||
Intangible assets, net | 2,312.5 | 2,372.5 | ||
Total assets | 7,114.1 | 7,053.5 | ||
Current liabilities: | ||||
Current portion of long-term debt | 35 | 164 | ||
Accounts payable | 525 | 580.1 | ||
Accrued wages and salaries | 64.6 | 122.9 | ||
Accrued interest | 37.2 | 39.3 | ||
Other current liabilities | 174.1 | 188.3 | ||
Total current liabilities | 835.9 | 1,094.6 | ||
Long-term debt, net of current portion | 3,745.8 | 3,456.2 | ||
Deferred income taxes | 577.5 | 532.7 | ||
Other long-term liabilities | 131.2 | 140.6 | ||
Total liabilities | 5,290.4 | 5,224.1 | ||
Shareholders' equity: | ||||
Other capital | 2,028.8 | 2,000.9 | ||
Accumulated (deficit) earnings | (18.4) | 8.1 | ||
Accumulated other comprehensive (loss) income | (236.1) | (229.4) | ||
Total shareholder's equity | 1,774.3 | 1,779.6 | ||
Noncontrolling interest | 49.4 | 49.8 | ||
Total equity | 1,823.7 | 1,829.4 | ||
Total liabilities and equity | $ 7,114.1 | $ 7,053.5 |
Guarantor Statements - SB_RH 80
Guarantor Statements - SB/RH (Statement Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | $ 1,169.9 | $ 1,209.6 | $ 2,381.7 | $ 2,428.4 |
Cost of goods sold | 710.6 | 746.6 | 1,471.2 | 1,524.6 |
Restructuring and related charges | 4.1 | 0.2 | 5.3 | 0.3 |
Gross profit | 455.2 | 462.8 | 905.2 | 903.5 |
Selling | 187.4 | 189.5 | 377.2 | 376.6 |
General and administrative | 99.4 | 95.6 | 187.9 | 181.9 |
Research and development | 15.1 | 14.5 | 29.5 | 28.3 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 4.1 | 1.4 | 6.2 | 2.5 |
Total operating expenses | 311.1 | 314.3 | 610 | 612.5 |
Operating income (loss) | 144.1 | 148.5 | 295.2 | 291 |
Interest expense | 50.6 | 57.5 | 106.4 | 115.9 |
Other non-operating expense, net | 1.8 | 0.8 | 0.8 | 4.3 |
Income from operations before income taxes | 91.7 | 90.2 | 188 | 170.8 |
Income tax expense (benefit) | 33.1 | (2.5) | 64.1 | 4.4 |
Net income (loss) | 58.6 | 92.7 | 123.9 | 166.4 |
Net income (loss) attributable to non-controlling interest | (0.2) | 0.1 | (0.2) | 0.2 |
Net income (loss) attributable to controlling interest | 58.8 | 92.6 | 124.1 | 166.2 |
Parent [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | 579.7 | 574.3 | 1,212.6 | 1,206.3 |
Cost of goods sold | 387.4 | 393.6 | 805 | 829.7 |
Restructuring and related charges | 0.3 | 0.3 | ||
Gross profit | 192 | 180.7 | 407.3 | 376.6 |
Selling | 79.9 | 80.6 | 161.2 | 156.6 |
General and administrative | 58 | 55.2 | 106.7 | 107.2 |
Research and development | 9.7 | 9.5 | 18.8 | 18.1 |
Acquisition and integration related charges | 3.6 | 7.1 | 6.4 | 13.5 |
Restructuring and related charges | 2.3 | 0.5 | 2.8 | 1.3 |
Total operating expenses | 153.5 | 152.9 | 295.9 | 296.7 |
Operating income (loss) | 38.5 | 27.8 | 111.4 | 79.9 |
Interest expense | 44.5 | 48 | 93.9 | 96.3 |
Other non-operating expense, net | (66.7) | (80.8) | (127.6) | (152.8) |
Income from operations before income taxes | 60.7 | 60.6 | 145.1 | 136.4 |
Income tax expense (benefit) | (0.1) | (22) | 19.3 | (21.7) |
Net income (loss) | 60.8 | 82.6 | 125.8 | 158.1 |
Net income (loss) attributable to controlling interest | 60.8 | 82.6 | 125.8 | 158.1 |
Guarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | 400.1 | 409.3 | 592.8 | 600.2 |
Cost of goods sold | 277.9 | 276.9 | 415.4 | 412.8 |
Restructuring and related charges | 3.8 | 4.9 | ||
Gross profit | 118.4 | 132.4 | 172.5 | 187.4 |
Selling | 30.4 | 29.8 | 51.4 | 50.8 |
General and administrative | 18.1 | 18.1 | 32.3 | 32.7 |
Research and development | 2.1 | 1.4 | 3.8 | 2.8 |
Acquisition and integration related charges | 0.2 | 2.5 | 0.3 | 3.3 |
Restructuring and related charges | 1.5 | 0.3 | 1.9 | 0.4 |
Total operating expenses | 52.3 | 52.1 | 89.7 | 90 |
Operating income (loss) | 66.1 | 80.3 | 82.8 | 97.4 |
Interest expense | 4.1 | 5.1 | 8.1 | 10.5 |
Other non-operating expense, net | (35.8) | (44.9) | (81.2) | (92.1) |
Income from operations before income taxes | 97.8 | 120.1 | 155.9 | 179 |
Income tax expense (benefit) | 25.3 | 28.5 | 27.1 | 24.7 |
Net income (loss) | 72.5 | 91.6 | 128.8 | 154.3 |
Net income (loss) attributable to controlling interest | 72.5 | 91.6 | 128.8 | 154.3 |
Nonguarantor Subsidiaries [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | 585.3 | 606.9 | 1,296.8 | 1,341.1 |
Cost of goods sold | 436.6 | 454.6 | 967.6 | 997.6 |
Restructuring and related charges | 0.2 | 0.1 | 0.3 | |
Gross profit | 148.7 | 152.1 | 329.1 | 343.2 |
Selling | 77.8 | 79.6 | 165.7 | 170.1 |
General and administrative | 19.8 | 20.9 | 44.3 | 38.8 |
Research and development | 3.3 | 3.6 | 6.9 | 7.4 |
Acquisition and integration related charges | 1.3 | 3.7 | 2.5 | 6.4 |
Restructuring and related charges | 0.3 | 0.6 | 1.5 | 0.8 |
Total operating expenses | 102.5 | 108.4 | 220.9 | 223.5 |
Operating income (loss) | 46.2 | 43.7 | 108.2 | 119.7 |
Interest expense | 2.1 | 4.4 | 4.7 | 9 |
Other non-operating expense, net | (0.7) | 0.5 | (1.6) | 4.1 |
Income from operations before income taxes | 44.8 | 38.8 | 105.1 | 106.6 |
Income tax expense (benefit) | 9.7 | 6.7 | 20.5 | 17 |
Net income (loss) | 35.1 | 32.1 | 84.6 | 89.6 |
Net income (loss) attributable to non-controlling interest | (0.2) | 0.1 | (0.2) | 0.2 |
Net income (loss) attributable to controlling interest | 35.3 | 32 | 84.8 | 89.4 |
SB/RH Holdings, LLC [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | 1,169.9 | 1,209.6 | 2,381.7 | 2,428.4 |
Cost of goods sold | 710.6 | 746.6 | 1,471.2 | 1,524.6 |
Restructuring and related charges | 4.1 | 0.2 | 5.3 | 0.3 |
Gross profit | 455.2 | 462.8 | 905.2 | 903.5 |
Selling | 187.4 | 189.5 | 377.2 | 376.6 |
General and administrative | 95.9 | 94.2 | 183.3 | 178.7 |
Research and development | 15.1 | 14.5 | 29.5 | 28.3 |
Acquisition and integration related charges | 5.1 | 13.3 | 9.2 | 23.2 |
Restructuring and related charges | 4.1 | 1.4 | 6.2 | 2.5 |
Total operating expenses | 307.6 | 312.9 | 605.4 | 609.3 |
Operating income (loss) | 147.6 | 149.9 | 299.8 | 294.2 |
Interest expense | 50.7 | 57.5 | 106.7 | 115.9 |
Other non-operating expense, net | 1.8 | 0.8 | 0.8 | 4.3 |
Income from operations before income taxes | 95.1 | 91.6 | 192.3 | 174 |
Income tax expense (benefit) | 34.3 | 9 | 66.5 | 15.9 |
Net income (loss) | 60.8 | 82.6 | 125.8 | 158.1 |
Net income (loss) attributable to non-controlling interest | (0.2) | 0.1 | (0.2) | 0.2 |
Net income (loss) attributable to controlling interest | 61 | 82.5 | 126 | 157.9 |
Eliminations [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net sales | (395.2) | (380.9) | (720.5) | (719.2) |
Cost of goods sold | (391.3) | (378.5) | (716.8) | (715.5) |
Gross profit | (3.9) | (2.4) | (3.7) | (3.7) |
Selling | (0.7) | (0.5) | (1.1) | (0.9) |
Total operating expenses | (0.7) | (0.5) | (1.1) | (0.9) |
Operating income (loss) | (3.2) | (1.9) | (2.6) | (2.8) |
Interest expense | 0.1 | |||
Other non-operating expense, net | 105 | 126 | 211.2 | 245.1 |
Income from operations before income taxes | (108.2) | (127.9) | (213.8) | (248) |
Income tax expense (benefit) | (0.6) | (4.2) | (0.4) | (4.1) |
Net income (loss) | (107.6) | (123.7) | (213.4) | (243.9) |
Net income (loss) attributable to controlling interest | $ (107.6) | $ (123.7) | $ (213.4) | $ (243.9) |
Guarantor Statements - SB_RH 81
Guarantor Statements - SB/RH (Statement Of Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 02, 2017 | Apr. 03, 2016 | Apr. 02, 2017 | Apr. 03, 2016 | |
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | $ 58.6 | $ 92.7 | $ 123.9 | $ 166.4 |
Foreign currency translation gain (loss) | 21.7 | 28.2 | (24.4) | 7.7 |
Unrealized (loss) gain on derivative instruments | (9.7) | (2.9) | 14.5 | 0.8 |
Defined benefit pension (loss) gain | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 11.7 | 24.7 | (6.9) | 9 |
Comprehensive income (loss) | 70.3 | 117.4 | 117 | 175.4 |
Comprehensive income (loss) attributable to non-controlling interest | 0.1 | (0.2) | (0.1) | |
Comprehensive income (loss) attributable to controlling interest | 70.2 | 117.4 | 117.2 | 175.5 |
Parent [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | 60.8 | 82.6 | 125.8 | 158.1 |
Foreign currency translation gain (loss) | 21.7 | 28.2 | (24.4) | 7.8 |
Unrealized (loss) gain on derivative instruments | (9.7) | (2.9) | 14.5 | 0.7 |
Defined benefit pension (loss) gain | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 11.7 | 24.7 | (6.9) | 9 |
Comprehensive income (loss) | 72.5 | 107.3 | 118.9 | 167.1 |
Comprehensive income (loss) attributable to controlling interest | 72.5 | 107.3 | 118.9 | 167.1 |
Guarantor Subsidiaries [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | 72.5 | 91.6 | 128.8 | 154.3 |
Foreign currency translation gain (loss) | 26.4 | 28.3 | (23.5) | 7.8 |
Unrealized (loss) gain on derivative instruments | (5.1) | (5.5) | (0.9) | (2.8) |
Defined benefit pension (loss) gain | (0.4) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 20.9 | 22.2 | (21.4) | 5.5 |
Comprehensive income (loss) | 93.4 | 113.8 | 107.4 | 159.8 |
Comprehensive income (loss) attributable to controlling interest | 93.4 | 113.8 | 107.4 | 159.8 |
Nonguarantor Subsidiaries [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | 35.1 | 32.1 | 84.6 | 89.6 |
Foreign currency translation gain (loss) | 26.9 | 28.3 | (23) | 7.8 |
Unrealized (loss) gain on derivative instruments | (5.2) | (5.6) | (0.8) | (2.8) |
Defined benefit pension (loss) gain | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 21.4 | 22.1 | (20.8) | 5.5 |
Comprehensive income (loss) | 56.5 | 54.2 | 63.8 | 95.1 |
Comprehensive income (loss) attributable to non-controlling interest | 0.1 | (0.2) | (0.1) | |
Comprehensive income (loss) attributable to controlling interest | 56.4 | 54.2 | 64 | 95.2 |
SB/RH Holdings, LLC [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | 60.8 | 82.6 | 125.8 | 158.1 |
Foreign currency translation gain (loss) | 21.7 | 28.2 | (24.4) | 7.7 |
Unrealized (loss) gain on derivative instruments | (9.7) | (2.9) | 14.5 | 0.8 |
Defined benefit pension (loss) gain | (0.3) | (0.6) | 3 | 0.5 |
Other comprehensive income (loss), net of tax | 11.7 | 24.7 | (6.9) | 9 |
Comprehensive income (loss) | 72.5 | 107.3 | 118.9 | 167.1 |
Comprehensive income (loss) attributable to non-controlling interest | 0.1 | (0.2) | (0.1) | |
Comprehensive income (loss) attributable to controlling interest | 72.4 | 107.3 | 119.1 | 167.2 |
Eliminations [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
Net income (loss) | (107.6) | (123.7) | (213.4) | (243.9) |
Foreign currency translation gain (loss) | (53.3) | (56.6) | 46.5 | (15.7) |
Unrealized (loss) gain on derivative instruments | 10.3 | 11.1 | 1.7 | 5.7 |
Defined benefit pension (loss) gain | 0.7 | 1.2 | (6) | (1) |
Other comprehensive income (loss), net of tax | (42.3) | (44.3) | 42.2 | (11) |
Comprehensive income (loss) | (149.9) | (168) | (171.2) | (254.9) |
Comprehensive income (loss) attributable to controlling interest | $ (149.9) | $ (168) | $ (171.2) | $ (254.9) |
Guarantor Statements - SB_RH 82
Guarantor Statements - SB/RH (Statement Of Cash Flows) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Apr. 02, 2017 | Apr. 03, 2016 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | $ 30.1 | $ (144.5) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (51.3) | (38.7) |
Proceeds from sales of property, plant and equipment | 0.8 | 0.8 |
Other investing activities | (1.2) | |
Net cash used by investing activities | (51.7) | (37.9) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 216.1 | 175 |
Payment of debt | (151.6) | (13.3) |
Payment of debt issuance costs | (2.7) | (1.6) |
Payment of cash dividends to parent | (47.3) | (42) |
Share based award tax withholding payments, net of proceeds | (23.9) | (9.8) |
Net cash (used) provided by financing activities | (112.5) | 68.1 |
Effect of exchange rate changes on cash and cash equivalents | (4) | (0.3) |
Net decrease in cash and cash equivalents | (138.1) | (114.6) |
Cash and cash equivalents, beginning of period | 275.3 | 247.9 |
Cash and cash equivalents, end of period | 137.2 | 133.3 |
Parent [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | 171.4 | (557.4) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (22.5) | (20.1) |
Proceeds from sales of property, plant and equipment | 0.1 | |
Net cash used by investing activities | (22.5) | (20) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 216.1 | 188.9 |
Payment of debt | (140.8) | (47) |
Payment of debt issuance costs | (2.7) | (1.6) |
Payment of cash dividends to parent | (152.5) | (52) |
Advances related to intercompany transactions | (162.5) | 480.4 |
Net cash (used) provided by financing activities | (242.4) | 568.7 |
Net decrease in cash and cash equivalents | (93.5) | (8.7) |
Cash and cash equivalents, beginning of period | 98.6 | 13 |
Cash and cash equivalents, end of period | 5.1 | 4.3 |
Guarantor Subsidiaries [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | 227.2 | 146.2 |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (10.8) | (6.4) |
Proceeds from sales of property, plant and equipment | 0.2 | |
Other investing activities | (1.2) | |
Net cash used by investing activities | (11.8) | (6.4) |
Cash flows from financing activities | ||
Advances related to intercompany transactions | (218.4) | (147.5) |
Net cash (used) provided by financing activities | (218.4) | (147.5) |
Net decrease in cash and cash equivalents | (3) | (7.7) |
Cash and cash equivalents, beginning of period | 3.1 | 8.6 |
Cash and cash equivalents, end of period | 0.1 | 0.9 |
Nonguarantor Subsidiaries [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | 211.8 | (346.4) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (18) | (12.2) |
Proceeds from sales of property, plant and equipment | 0.6 | 0.7 |
Net cash used by investing activities | (17.4) | (11.5) |
Cash flows from financing activities | ||
Payment of debt | (10.8) | (1.1) |
Advances related to intercompany transactions | (216.8) | 261 |
Net cash (used) provided by financing activities | (227.6) | 259.9 |
Effect of exchange rate changes on cash and cash equivalents | (4) | (0.3) |
Net decrease in cash and cash equivalents | (37.2) | (98.3) |
Cash and cash equivalents, beginning of period | 169.1 | 226.3 |
Cash and cash equivalents, end of period | 131.9 | 128 |
SB/RH Holdings, LLC [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | 12.7 | (163.7) |
Cash flows from investing activities | ||
Purchases of property, plant and equipment | (51.3) | (38.7) |
Proceeds from sales of property, plant and equipment | 0.8 | 0.8 |
Other investing activities | (1.2) | |
Net cash used by investing activities | (51.7) | (37.9) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 216.1 | 188.9 |
Payment of debt | (151.6) | (48.1) |
Payment of debt issuance costs | (2.7) | (1.6) |
Payment of cash dividends to parent | (152.5) | (52) |
Net cash (used) provided by financing activities | (90.7) | 87.2 |
Effect of exchange rate changes on cash and cash equivalents | (4) | (0.3) |
Net decrease in cash and cash equivalents | (133.7) | (114.7) |
Cash and cash equivalents, beginning of period | 270.8 | 247.9 |
Cash and cash equivalents, end of period | 137.1 | 133.2 |
Eliminations [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used) provided by operating activities | (597.7) | 593.9 |
Cash flows from financing activities | ||
Advances related to intercompany transactions | 597.7 | (593.9) |
Net cash (used) provided by financing activities | $ 597.7 | $ (593.9) |
Subsequent Event (Narrative) (D
Subsequent Event (Narrative) (Details) - Petmatrix LLC [Member] - Subsequent Event [Member] $ in Millions | Apr. 26, 2017USD ($) |
Subsequent Event [Line Items] | |
Purchase price | $ 255 |
Acquisition date | May 31, 2017 |