XML 25 R11.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Derivative Financial Instruments | 12 Months Ended
--- | ---
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Consolidated Balance Sheets were as follows:
|  |  |  | September 30,
Asset Derivatives |  | Classification |  | 2017 |  | 2016
Derivatives designated as hedging instruments: |  |  |  |  |  |
Commodity swaps |  | Other receivables, net |  | $ | 0.6 |  |  | $ | 0.1 |
Interest rate swaps |  | Deferred charges and other assets |  | 0.4 |  |  | — |
Foreign exchange contracts |  | Other receivables, net |  | 0.2 |  |  | — |
Total asset derivatives designated as hedging instruments |  |  |  | 1.2 |  |  | 0.1 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Other receivables, net |  | 0.3 |  |  | 0.1 |
Total asset derivatives |  |  |  | $ | 1.5 |  |  | $ | 0.2 |
|  |  |  | September 30,
Liability Derivatives |  | Classification |  | 2017 |  | 2016
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Accounts payable |  | $ | 2.3 |  |  | $ | 0.2 |
Foreign exchange contracts |  | Other long-term liabilities |  | 0.3 |  |  | 0.1 |
Interest rate swaps |  | Other current liabilities |  | 0.5 |  |  | 0.8 |
Interest rate swaps |  | Accrued interest |  | 0.2 |  |  | 0.4 |
Commodity swaps |  | Accounts payable |  | — |  |  | 0.1 |
Total liability derivatives designated as hedging instruments |  |  |  | 3.3 |  |  | 1.6 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Accounts payable |  | — |  |  | 0.1 |
Total liability derivatives |  |  |  | $ | 3.3 |  |  | $ | 1.7 |
Spectrum Brands is exposed to the risk of default by the counterparties with which Spectrum Brands transacts and generally does not require collateral or other security to support financial instruments subject to credit risk. Spectrum Brands monitors counterparty credit risk on an individual basis by periodically assessing each such counterparty’s credit rating exposure. The maximum loss due to credit risk equals the fair value of the gross asset derivatives that are concentrated with certain domestic and foreign financial institution counterparties. Spectrum Brands considers these exposures when measuring its credit reserve on its derivative assets, which was less than $0.1 as of September 30, 2017 and 2016. Spectrum Brands’ standard contracts do not contain credit risk related contingent features whereby Spectrum Brands would be required to post additional cash collateral as a result of a credit event. However, Spectrum Brands is typically required to post collateral in the normal course of business to offset its liability positions. As of September 30, 2017 and 2016, there was no cash collateral outstanding. In addition, as of September 30, 2017 and 2016, Spectrum Brands had no posted standby letters of credit related to such liability positions. The following tables summarize the impact of the effective portion of designated hedges and the gain (loss) recognized in the accompanying Consolidated Statements of Operations for Fiscal 2017, 2016 and 2015:
Fiscal 2017 |  | Classification |  | Effective Portion
|  |  |  | Gain (Loss) in AOCI |  | Gain (Loss) reclassified to Continuing Operations |  | Reclassified to Discontinued Operations
Interest rate swaps |  | Interest expense |  | $ | (0.7 | ) |  | $ | (1.3 | ) |  | $ | — |
Commodity swaps |  | Cost of goods sold |  | 6.2 |  |  | 0.7 |  |  | 4.7 |
Net investment hedge |  | Other (expense) income, net |  | (24.0 | ) |  | — |  |  | — |
Foreign exchange contracts |  | Net sales |  | 0.4 |  |  | — |  |  | — |
Foreign exchange contracts |  | Cost of goods sold |  | (13.5 | ) |  | 0.1 |  |  | 6.6 |
|  |  |  | $ | (31.6 | ) |  | $ | (0.5 | ) |  | $ | 11.3 |
Fiscal 2016 |  | Classification |  | Effective Portion
|  |  |  | Gain (Loss) in AOCI |  | Gain (Loss) reclassified to Continuing Operations |  | Reclassified to Discontinued Operations
Interest rate swaps |  | Interest expense |  | $ | (0.4 | ) |  | $ | (1.9 | ) |  | $ | — |
Commodity swaps |  | Cost of goods sold |  | 4.5 |  |  | (1.4 | ) |  | (2.3 | )
Net investment hedge |  | Other (expense) income, net |  | 0.6 |  |  | — |  |  | — |
Foreign exchange contracts |  | Net sales |  | (0.4 | ) |  | (0.2 | ) |  | — |
Foreign exchange contracts |  | Cost of goods sold |  | 6.8 |  |  | 1.2 |  |  | 5.7 |
|  |  |  | $ | 11.1 |  |  | $ | (2.3 | ) |  | $ | 3.4 |
Fiscal 2015 |  | Classification |  | Effective Portion
|  |  |  | Gain (Loss) in AOCI |  | Gain (Loss) reclassified to Continuing Operations |  | Reclassified to Discontinued Operations
Interest rate swaps |  | Interest expense |  | $ | (3.4 | ) |  | $ | (1.9 | ) |  | $ | — |
Commodity swaps |  | Cost of goods sold |  | (7.1 | ) |  | (0.5 | ) |  | (0.2 | )
Foreign exchange contracts |  | Net sales |  | 0.1 |  |  | 0.1 |  |  | — |
Foreign exchange contracts |  | Cost of goods sold |  | 21.8 |  |  | 25.4 |  |  | 4.6 |
|  |  |  | $ | 11.4 |  |  | $ | 23.1 |  |  | $ | 4.4 |
The unrealized loss on derivative contracts in AOCI expected to be recognized during the fiscal year ending September 30, 2018 (“Fiscal 2018”) is $8.9. During Fiscal 2017, 2016 and 2015, Spectrum Brands recognized the following gains and losses on derivatives associated with Spectrum Brands’ continuing operations:
|  |  |  | Fiscal
|  | Classification |  | 2017 |  | 2016 |  | 2015
Foreign exchange contracts |  | Other (expense) income, net |  | $ | 1.9 |  |  | $ | 3.1 |  |  | $ | (4.9 | )

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624177-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41641-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624258-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708775-113959 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708773-113959 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5580258-113959 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624181-113959 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41638-113959 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration