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Debt | 9 Months Ended
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Jun. 30, 2018
Debt [Abstract] |
Debt | NOTE 10 - DEBT ﻿ Debt consists of the following:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | SBH |  | SB/RH
﻿ |  | June 30, 2018 |  | September 30, 2017 |  | July 1, 2018 |  | September 30, 2017
﻿(in millions) |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
﻿Spectrum Brands Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Term Loan, variable rate, due June 23, 2022 |  | $ | 1,234.8 |  | 4.2 | % |  | $ | 1,244.2 |  | 3.4 | % |  | $ | 1,234.8 |  | 4.2 | % |  | $ | 1,244.2 |  | 3.4 | %
﻿CAD Term Loan, variable rate, due June 23, 2022 |  |  | 32.4 |  | 5.3 | % |  |  | 59.0 |  | 4.9 | % |  |  | 32.4 |  | 5.3 | % |  |  | 59.0 |  | 4.9 | %
﻿4.00% Notes, due October 1, 2026 |  |  | 491.7 |  | 4.0 | % |  |  | 500.9 |  | 4.0 | % |  |  | 491.7 |  | 4.0 | % |  |  | 500.9 |  | 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 | %
﻿6.625% 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 |  |  | 545.5 |  | 4.6 | % |  |  | — |  | — | % |  |  | 545.5 |  | 4.6 | % |  |  | — |  | — | %
﻿Other notes and obligations |  |  | 3.4 |  | 7.9 | % |  |  | 4.7 |  | 8.0 | % |  |  | 3.4 |  | 7.9 | % |  |  | 4.7 |  | 8.0 | %
﻿Obligations under capital leases |  |  | 196.9 |  | 5.7 | % |  |  | 199.7 |  | 5.7 | % |  |  | 196.9 |  | 5.7 | % |  |  | 199.7 |  | 5.7 | %
﻿Total Spectrum Brands, Inc. debt |  |  | 4,324.7 |  |  |  |  |  | 3,828.5 |  |  |  |  |  | 4,324.7 |  |  |  |  |  | 3,828.5 |  |  |
﻿Spectrum Brands Holdings, Inc. (formerly HRG) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿HRG - 7.875% Senior Secured Notes, due July 15, 2019 |  |  | — |  | — | % |  |  | 864.4 |  | 7.9 | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿HRG - 7.75% Senior Unsecured Notes, due January 15, 2019 |  |  | 890.0 |  | 7.8 | % |  |  | 890.0 |  | 7.8 | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿HGI Funding - 2017 Loan, due July 13, 2018 |  |  | 50.0 |  | 3.7 | % |  |  | 50.0 |  | 3.7 | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿HGI Energy - notes due June 30, 2018 |  |  | — |  | — | % |  |  | 92.0 |  | 1.5 | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿Salus - unaffiliated long-term debt of consolidated VIE |  |  | 76.6 |  | — | % |  |  | 28.9 |  | — | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿Salus - long term debt of consolidated VIE with FGL |  |  | — |  | — | % |  |  | 48.1 |  | — | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿Total SBH debt |  |  | 5,341.3 |  |  |  |  |  | 5,801.9 |  |  |  |  |  | 4,324.7 |  |  |  |  |  | 3,828.5 |  |  |
﻿Unamortized discount on debt |  |  | (20.7) |  |  |  |  |  | (20.7) |  |  |  |  |  | (2.9) |  |  |  |  |  | (3.7) |  |  |
﻿Debt issuance costs |  |  | (60.4) |  |  |  |  |  | (76.1) |  |  |  |  |  | (47.5) |  |  |  |  |  | (53.1) |  |  |
﻿Less current portion |  |  | (70.8) |  |  |  |  |  | (161.4) |  |  |  |  |  | (20.8) |  |  |  |  |  | (19.4) |  |  |
﻿Long-term debt, net of current portion |  | $ | 5,189.4 |  |  |  |  | $ | 5,543.7 |  |  |  |  | $ | 4,253.5 |  |  |  |  | $ | 3,752.3 |  |  |
﻿ Spectrum Brands Inc. ﻿ The Term Loans and Revolver Facility are subject to variable interest rates, (i) the USD Term Loan is subject to either adjusted LIBOR (International Exchange London Interbank Offered Rate), plus margin of 2.00% per annum, or base rate 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 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. ﻿ On March 28, 2018, the Company entered into a fifth amendment to the Credit Agreement, expanding the overall capacity of the Revolver Facility by $100 million to $800 million. As a result of borrowings and payments under the Revolver Facility, at June 30, 2018, the Company had borrowing availability of $234.5 million, net outstanding letters of credit of $18.0 million and $2.0 million allocated to a foreign subsidiary. ﻿ SBH (formerly HRG) ﻿ On January 16, 2018, HRG redeemed all $864.4 million outstanding principal amount of its 7.875% Senior Secured Notes due 2019 at a redemption price equal to 100.0% of the principal amount thereof, plus accrued and unpaid interest to the redemption date. ﻿ On January 13, 2017, HRG, through a wholly-owned subsidiary of HGI Funding, entered into a loan agreement, pursuant to which it may borrow up to an aggregate amount of $150.0 million (the “2017 Loan”). The 2017 Loan bears interest at an adjusted International Exchange London Interbank Offered Rate (“LIBOR”), plus 2.35% per annum, payable quarterly and a commitment fee of 75 bps. During the nine months ended June 30, 2018, the 2017 Loan was terminated by the borrower. ﻿ On December 5, 2017, HRG Group Inc. paid off the $92.0 million aggregate principal amount of the HGI Energy Notes, which were previously held by FGL. ﻿ On July 13, 2018, subsequent to June 30, 2018, the Company paid of the $50.0 million aggregate principal amount of the HGI Funding loan prior to the close of the Spectrum Merger. ﻿ In February 2013, September 2013 and February 2015, Salus completed a collateralized loan obligation (“CLO”) securitization of up to $578.5 million notional aggregate principal amount. At June 30, 2018 and September 30, 2017, the outstanding notional aggregate principal amount of $76.6 million and $28.9 million, respectively, was taken up by unaffiliated entities, including HRG former subsidiary, FGL, and consisted entirely of subordinated debt in both periods. As of September 30, 2017, there was $48.1 million taken up by FGL and included in Assets of Businesses Held for Sale in the accompanying Condensed Consolidated Statement of Financial Position. The CLO subordinated debt is non-recourse to the Company. The obligations of the securitization is secured by the assets of the variable interest entity, primarily asset-based loan receivables and carry residual interest subject to maintenance of certain covenants. Due to losses incurred in the CLO, at June 30, 2018, and September 30, 2017, the CLO was not accruing interest on the subordinated debt.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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