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Debt | 9 Months Ended
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Jun. 30, 2019
Debt [Abstract] |
Debt | NOTE 11 - DEBT Debt consists of the following:
|  | SBH |  | SB/RH
|  | June 30, 2019 |  | September 30, 2018 |  | June 30, 2019 |  | 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 |  | 4.4 | % |  | $ | — |  | — | % |  | $ | 1,231.7 |  | 4.4 | %
CAD Term Loan, variable rate, due June 23, 2022 |  |  | — |  | — | % |  |  | 32.8 |  | 5.5 | % |  |  | — |  | — | % |  |  | 32.8 |  | 5.5 | %
Revolver Facility, variable rate, expiring March 6, 2022 |  |  | 54.0 |  | 4.8 | % |  |  | — |  | — | % |  |  | 54.0 |  | 4.8 | % |  |  | — |  | — | %
6.625% Notes, due November 15, 2022 |  |  | 285.0 |  | 6.6 | % |  |  | 570.0 |  | 6.6 | % |  |  | 285.0 |  | 6.6 | % |  |  | 570.0 |  | 6.6 | %
6.125% Notes, due December 15, 2024 |  |  | 250.0 |  | 6.1 | % |  |  | 250.0 |  | 6.1 | % |  |  | 250.0 |  | 6.1 | % |  |  | 250.0 |  | 6.1 | %
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 | %
4.00% Notes, due October 1, 2026 |  |  | 483.2 |  | 4.0 | % |  |  | 494.7 |  | 4.0 | % |  |  | 483.2 |  | 4.0 | % |  |  | 494.7 |  | 4.0 | %
Other notes and obligations |  |  | 4.7 |  | 9.8 | % |  |  | 7.3 |  | 9.5 | % |  |  | 4.7 |  | 9.8 | % |  |  | 7.3 |  | 9.5 | %
Intercompany note with parent |  |  | — |  |  | % |  |  | — |  | — | % |  |  | — |  | — | % |  |  | 520.0 |  | 4.3 | %
Obligations under capital leases |  |  | 167.5 |  | 5.6 | % |  |  | 175.1 |  | 5.5 | % |  |  | 167.5 |  | 5.6 | % |  |  | 175.1 |  | 5.5 | %
Total Spectrum Brands, Inc. debt |  |  | 2,244.4 |  |  |  |  |  | 3,761.6 |  |  |  |  |  | 2,244.4 |  |  |  |  |  | 4,281.6 |  |  |
Spectrum Brands Holdings, Inc. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HRG - 7.75% Senior Notes, due January 15, 2022 |  |  | — |  | — | % |  |  | 890.0 |  | 7.8 | % |  |  | — |  | — | % |  |  | — |  | — | %
Salus - unaffiliated long-term debt of consolidated VIE |  |  | 77.0 |  | — | % |  |  | 77.0 |  | — | % |  |  | — |  | — | % |  |  | — |  | — | %
Total SBH debt |  |  | 2,321.4 |  |  |  |  |  | 4,728.6 |  |  |  |  |  | 2,244.4 |  |  |  |  |  | 4,281.6 |  |  |
Unamortized discount on debt |  |  | (0.3) |  |  |  |  |  | (19.8) |  |  |  |  |  | — |  |  |  |  |  | (2.8) |  |  |
Debt issuance costs |  |  | (32.1) |  |  |  |  |  | (57.6) |  |  |  |  |  | (30.5) |  |  |  |  |  | (45.5) |  |  |
Less current portion |  |  | (13.8) |  |  |  |  |  | (26.9) |  |  |  |  |  | (13.8) |  |  |  |  |  | (546.9) |  |  |
Long-term debt, net of current portion |  | $ | 2,275.2 |  |  |  |  | $ | 4,624.3 |  |  |  |  | $ | 2,200.1 |  |  |  |  | $ | 3,686.4 |  |  |
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, the Company had borrowing availability of $724.4 million at June 30, 2019, net of outstanding letters of credit of $20.0 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, 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 attributable to a non-cash charge from the write-off of deferred financing costs and original issue discount associated with the debt. On January 30, 2019, 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 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. On March 21, 2019, the Company completed the prepayment of $285.0 million of the $570.0 million aggregate principal amount of its 6.625% Notes, plus accrued and unpaid interest, in part using proceeds received from the GAC divestitures, recognizing a loss on extinguishment of the debt of $9.6 million attributable to a $6.3 million premium on repayment of the debt and a non-cash charge of $3.3 million attributable to the write-off of deferred financing costs associated with the debt. 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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