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Debt | 3 Months Ended
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Dec. 30, 2018
Debt [Abstract] |
Debt | NOTE 11 - DEBT ﻿ Debt consists of the following:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | SBH |  | SB/RH
﻿ |  | December 30, 2018 |  | September 30, 2018 |  | December 30, 2018 |  | September 30, 2018
﻿(in millions) |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
﻿Spectrum Brands Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Term Loan, variable rate, due June 23, 2022 |  | $ | 1,231.7 |  | 4.5 | % |  | $ | 1,231.7 |  | 4.4 | % |  | $ | 1,231.7 |  | 4.5 | % |  | $ | 1,231.7 |  | 4.4 | %
﻿CAD Term Loan, variable rate, due June 23, 2022 |  |  | — |  | — | % |  |  | 32.8 |  | 5.5 | % |  |  | — |  | — | % |  |  | 32.8 |  | 5.5 | %
﻿4.00% Notes, due October 1, 2026 |  |  | 485.8 |  | 4.0 | % |  |  | 494.7 |  | 4.0 | % |  |  | 485.8 |  | 4.0 | % |  |  | 494.7 |  | 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 |  |  | 114.0 |  | 6.8 | % |  |  | — |  | 4.4 | % |  |  | 114.0 |  | 6.8 | % |  |  | — |  | 4.4 | %
﻿Other notes and obligations |  |  | 8.6 |  | 8.9 | % |  |  | 7.3 |  | 9.5 | % |  |  | 8.6 |  | 8.9 | % |  |  | 7.3 |  | 9.5 | %
﻿Intercompany note with parent |  |  | — |  | — | % |  |  | — |  | — | % |  |  | 520.0 |  | 4.3 | % |  |  | 520.0 |  | 4.3 | %
﻿Obligations under capital leases |  |  | 173.2 |  | 5.6 | % |  |  | 175.1 |  | 5.5 | % |  |  | 173.2 |  | 5.6 | % |  |  | 175.1 |  | 5.5 | %
﻿Total Spectrum Brands, Inc. debt |  |  | 3,833.3 |  |  |  |  |  | 3,761.6 |  |  |  |  |  | 4,353.3 |  |  |  |  |  | 4,281.6 |  |  |
﻿Spectrum Brands Holdings, Inc. (formerly HRG) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿HRG - 7.75% Senior Unsecured Notes, due January 15, 2022 |  |  | 890.0 |  | 7.8 | % |  |  | 890.0 |  | 7.8 | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿Salus - unaffiliated long-term debt of consolidated VIE |  |  | 77.0 |  | — | % |  |  | 77.0 |  | — | % |  |  | — |  | — | % |  |  | — |  | — | %
﻿Total SBH debt |  |  | 4,800.3 |  |  |  |  |  | 4,728.6 |  |  |  |  |  | 4,353.3 |  |  |  |  |  | 4,281.6 |  |  |
﻿Unamortized discount on debt |  |  | (18.3) |  |  |  |  |  | (19.8) |  |  |  |  |  | (2.4) |  |  |  |  |  | (2.8) |  |  |
﻿Debt issuance costs |  |  | (54.5) |  |  |  |  |  | (57.6) |  |  |  |  |  | (43.4) |  |  |  |  |  | (45.5) |  |  |
﻿Less current portion |  |  | (2,138.2) |  |  |  |  |  | (26.9) |  |  |  |  |  | (1,768.2) |  |  |  |  |  | (546.9) |  |  |
﻿Long-term debt, net of current portion |  | $ | 2,589.3 |  |  |  |  | $ | 4,624.3 |  |  |  |  | $ | 2,539.3 |  |  |  |  | $ | 3,686.4 |  |  |
﻿ There was $520 million of intercompany debt owed by SB/RH as of December 30, 2018 and September 30, 2018. Accrued interest balance on the intercompany loan was $5.5 million as of December 30, 2018, and $4.6 million as of September 30, 2018. ﻿ The USD Term Loan 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 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 December 30, 2018, the Company had borrowing availability of $663.6 million, net of outstanding letters of credit of $20.9 million and a $1.5 million amount allocated to a foreign subsidiary. ﻿ On October 31, 2018, the Company repaid its CAD Term Loan in full for $32.6 million of outstanding principal and interest. On January 4, 2019, subsequent to December 30, 2018, the Company repaid its USD Term Loan in full using proceeds received from the divestiture of GBL, recognizing a loss on extinguishment of the debt of $9.0 million within interest expense subsequent to the three month period ended December 30, 2018 attributable to a non-cash charge from the write-off of deferred financing costs and original issue discount associated with the debt. Additionally, on January 30, 2019, subsequent to December 30, 2018, the Company repaid its 7.75% Senior Unsecured Notes from HRG Group in full using proceeds received from the GBL and GAC divestitures, recognizing a loss on extinguishment of the debt of $41.2 million within interest expense subsequent to the three month period ended December 30, 2018, attributable to a $17.2 million premium on repayment of the debt and a non-cash charge of $24.0 million attributable to the write-off of deferred financing costs and original issue discount associated with the debt. As of December 30, 2018, both loans have been recognized as current debt on the Company’s Condensed Consolidated Statement of Financial Position. Refer to Note 3 – Divestitures for additional discussion on GAC and GBL divestitures.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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