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Segment and Geographic Data | 12 Months Ended
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Sep. 30, 2011
Segment and Geographic Data [Abstract] |
Segment and Geographic Data |
(27) | Segment and Geographic Data
Segment information for the periods presented is as follows:
|  | Successor |  |  |  | Predecessor |
|  |  |  |  |  |  |  | Period from |  |  |  | Period from |
|  |  |  |  |  |  |  | August 31, 2009 |  |  |  | October 1, 2008 |
|  |  |  |  |  |  |  | through |  |  |  | through |
|  | 2011 |  |  | 2010 |  |  | September 30, 2009 |  |  |  | August 30, 2009 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer products |  | $ | 3,186,916 |  |  | $ | 2,567,011 |  |  | $ | 219,888 |  |  |  | $ | 2,010,648 |
Insurance |  |  | 290,866 |  |  |  | — |  |  |  | — |  |  |  |  | — |
Consolidated revenues |  | $ | 3,477,782 |  |  | $ | 2,567,011 |  |  | $ | 219,888 |  |  |  | $ | 2,010,648 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer products |  | $ | 135,149 |  |  | $ | 117,418 |  |  | $ | 8,671 |  |  |  | $ | 58,480 |
Insurance |  |  | (11,115 | ) |  |  | — |  |  |  | — |  |  |  |  | — |
Total segments |  |  | 124,034 |  |  |  | 117,418 |  |  |  | 8,671 |  |  |  |  | 58,480 |
Corporate depreciation and amortization |  |  | 207 |  |  |  | 53 |  |  |  | — |  |  |  |  | — |
Consolidated depreciation and amortization |  | $ | 124,241 |  |  | $ | 117,471 |  |  | $ | 8,671 |  |  |  | $ | 58,480 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer products |  | $ | 227,944 |  |  | $ | 168,778 |  |  | $ | 108 |  |  |  | $ | 156,805 |
Insurance |  |  | (18,041 | ) |  |  | — |  |  |  | — |  |  |  |  | — |
Total segments |  |  | 209,903 |  |  |  | 168,778 |  |  |  | 108 |  |  |  |  | 156,805 |
Corporate expenses(a) |  |  | (46,217 | ) |  |  | (8,324 | ) |  |  | — |  |  |  |  | — |
Consolidated operating income (loss) |  |  | 163,686 |  |  |  | 160,454 |  |  |  | 108 |  |  |  |  | 156,805 |
Interest expense |  |  | (249,260 | ) |  |  | (277,015 | ) |  |  | (16,962 | ) |  |  |  | (172,940 | )
Bargain purchase gain from business acquisition |  |  | 151,077 |  |  |  | — |  |  |  | — |  |  |  |  | — |
Other (expense) income, net |  |  | (14,833 | ) |  |  | (12,105 | ) |  |  | 816 |  |  |  |  | (3,320 | )
Reorganization items (expense) income, net |  |  | — |  |  |  | (3,646 | ) |  |  | (3,962 | ) |  |  |  | 1,142,809 |
Consolidated income (loss) from continuing operations before income taxes |  | $ | 50,670 |  |  | $ | (132,312 | ) |  | $ | (20,000 | ) |  |  | $ | 1,123,354 |
|  | Successor |  |  |  | Predecessor |
|  |  |  |  |  |  |  | Period from |  |  |  | Period from |
|  |  |  |  |  |  |  | August 31, 2009 |  |  |  | October 1, 2008 |
|  |  |  |  |  |  |  | through |  |  |  | through |
|  | 2011 |  |  | 2010 |  |  | September 30, 2009 |  |  |  | August 30, 2009 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer products |  | $ | 36,160 |  |  | $ | 40,316 |  |  | $ | 2,718 |  |  |  | $ | 8,066 |
Insurance |  |  | 1,745 |  |  |  | — |  |  |  | — |  |  |  |  | — |
Total segments |  |  | 37,905 |  |  |  | 40,316 |  |  |  | 2,718 |  |  |  |  | 8,066 |
Corporate capital expenditures |  |  | 345 |  |  |  | 58 |  |  |  | — |  |  |  |  | — |
Consolidated capital expenditures |  | $ | 38,250 |  |  | $ | 40,374 |  |  | $ | 2,718 |  |  |  | $ | 8,066 |
|  | September 30, |
|  | 2011 |  |  | 2010 |
Total assets: |  |  |  |  |  |  |  |
Consumer products |  | $ | 3,626,706 |  |  | $ | 3,873,604 |
Insurance |  |  | 19,336,627 |  |  |  | — |
Total segments |  |  | 22,963,333 |  |  |  | 3,873,604 |
Corporate assets |  |  | 616,221 |  |  |  | 142,591 |
Consolidated total assets |  | $ | 23,579,554 |  |  | $ | 4,016,195 |
|  | September 30, |
|  | 2011 |  |  | 2010 |
Total long-lived assets(b): |  |  |  |  |  |  |  |
Consumer products |  | $ | 2,578,418 |  |  | $ | 2,673,892 |
Insurance |  |  | 460,694 |  |  |  | — |
Total segments |  |  | 3,039,112 |  |  |  | 2,673,892 |
Corporate long-lived assets |  |  | 19,952 |  |  |  | 640 |
Consolidated long-lived assets |  | $ | 3,059,064 |  |  | $ | 2,674,532 |
(a) |  | Included in corporate expenses are $26,996 and $6,649 related to business acquisitions and $4,359 and $212 related to Front Street for Fiscal 2011 and Fiscal 2010, respectively.
(b) |  | Total long-lived assets include all non-current assets of the Consumer Products and Other section of the Consolidated Balance Sheet and properties (included in “Other assets”) and intangibles of the Insurance section.
The Company’s geographic data disclosures are as follows: Net sales to external customers:
|  | Successor |  |  |  | Predecessor |
|  |  |  |  |  |  |  | August 31, 2009 |  |  |  | Period from |
|  |  |  |  |  |  |  | through |  |  |  | October 1, 2008 |
|  |  |  |  |  |  |  | September 30, |  |  |  | through |
|  | 2011 |  |  | 2010 |  |  | 2009 |  |  |  | August 30, 2009 |
United States |  | $ | 1,780,127 |  |  | $ | 1,444,779 |  |  | $ | 113,407 |  |  |  | $ | 1,166,920 |
Outside the United States |  |  | 1,406,789 |  |  |  | 1,122,232 |  |  |  | 106,481 |  |  |  |  | 843,728 |
Consolidated net sales to external customers |  | $ | 3,186,916 |  |  | $ | 2,567,011 |  |  | $ | 219,888 |  |  |  | $ | 2,010,648 |
|  | September 30, |
|  | 2011 |  |  | 2010 |
Long-lived assets: |  |  |  |  |  |  |  |
United States |  | $ | 2,324,515 |  |  | $ | 1,885,635 |
Outside the United States |  |  | 734,549 |  |  |  | 788,897 |
Consolidated long-lived assets at year end |  | $ | 3,059,064 |  |  | $ | 2,674,532 |
Venezuela Hyperinflation Spectrum Brands does business in Venezuela through a Venezuelan subsidiary. At January 4, 2010, the beginning of the second quarter of Fiscal 2010, Spectrum Brands determined that Venezuela met the definition of a highly inflationary economy under US GAAP. As a result, beginning January 4, 2010, the U.S. dollar is the functional currency for Spectrum Brands’ Venezuelan subsidiary. Accordingly, going forward, currency remeasurement adjustments for this subsidiary’s financial statements and other transactional foreign exchange gains and losses are reflected in earnings. Through January 3, 2010, prior to being designated as highly inflationary, translation adjustments related to the Venezuelan subsidiary were reflected as a component of AOCI. In addition, on January 8, 2010, the Venezuelan government announced its intention to devalue its currency, the Bolivar fuerte, relative to the U.S. dollar. As a result, Spectrum Brands remeasured the local balance sheet of its Venezuela entity during the second quarter of Fiscal 2010 to reflect the impact of the devaluation to the official exchange rate of 4.3 Bolivian fuerte per U.S. dollar. Based on actual exchange activity as of September 30, 2010, Spectrum Brands determined that the most likely method of exchanging its Bolivar fuertes for U.S. dollars would be to formally apply with the Venezuelan government to exchange through commercial banks at the Transaction System for Foreign Currency Denominated Securities (“SITME”) rate specified by the Central Bank of Venezuela. The SITME rate as of September 30, 2010 was quoted at 5.3 Bolivar fuerte per U.S. dollar. Therefore, Spectrum Brands changed the rate used to remeasure Bolivar fuerte denominated transactions as of September 30, 2010 from the official exchange rate to the 5.3 SITME rate in accordance with ASC Topic 830, “Foreign Currency Matters,” (“ASC 830”) as it was the expected rate that exchanges of Bolivar fuerte to U.S. dollars would be settled. The designation of the Spectrum Brands’ Venezuela entity as a highly inflationary economy and the devaluation of the Bolivar fuerte resulted in a $1,486 reduction to the Company’s operating income during Fiscal 2010. The Company also reported a foreign exchange loss in “Other (expense) income, net” of $10,102 during Fiscal 2010. As of September 30, 2011, Spectrum Brands is no longer exchanging its Bolivar Fuertes for U.S. dollars through the SITME mechanism and the SITME is no longer the most likely method of exchanging its Bolivar fuertes for U.S. dollars. Therefore, Spectrum Brands changed the rate used to remeasure Bolivar fuerte denominated transactions as of September 30, 2011 from the 5.3 SITME rate to the 4.3 official exchange rate in accordance with ASC 830 as it is the expected rate that exchanges of Bolivar fuerte to U.S. dollars will be settled. Spectrum Brands reported a foreign exchange gain in “Other (expense) income, net” of $1,293 during Fiscal 2011 related to the change to the official exchange rate.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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