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SEGMENT INFORMATION
 12 Months Ended
Feb. 29, 2012
SEGMENT INFORMATION  
SEGMENT INFORMATION

NOTE 20 - SEGMENT INFORMATION

 

The following table contains segment information for fiscal years covered by our consolidated financial statements:

 

FISCAL YEARS ENDED 2012, 2011 AND 2010

(in thousands)

2012

 

Personal
Care

 

Housewares

 

Healthcare /
Home Environment

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

496,605

 

$

237,376

 

$

447,695

 

$

1,181,676

 

Operating income

 

62,152

 

44,884

 

32,350

 

139,386

 

Identifiable assets

 

454,309

 

362,045

 

619,369

 

1,435,723

 

Capital, license, trademark and other intangible expenditures

 

10,228

 

1,781

 

4,042

 

16,051

 

Depreciation and amortization

 

11,004

 

6,672

 

12,502

 

30,178

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare /

 

 

 

2011

 

Care

 

Housewares

 

Home Environment

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

491,215

 

$

216,681

 

$

69,147

 

$

777,043

 

Operating income before impairments

 

63,368

 

46,017

 

4,520

 

113,905

 

Asset impairment charges

 

1,414

 

747

 

–

 

2,161

 

Operating income

 

61,954

 

45,270

 

4,520

 

111,744

 

Identifiable assets

 

474,344

 

363,128

 

403,052

 

1,240,524

 

Capital, license, trademark and other intangible expenditures

 

1,741

 

2,225

 

663

 

4,629

 

Depreciation and amortization

 

10,634

 

5,968

 

1,900

 

18,502

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare /

 

 

 

2010

 

Care

 

Housewares

 

Home Environment

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

449,151

 

$

198,475

 

$

-

 

$

647,626

 

Operating income before impairments

 

46,515

 

43,754

 

-

 

90,269

 

Asset impairment charges

 

900

 

-    

 

-

 

900

 

Operating income

 

45,615

 

43,754

 

-

 

89,369

 

Identifiable assets

 

483,106

 

351,627

 

-

 

834,733

 

Capital, license, trademark and other intangible expenditures

 

4,622

 

3,093

 

-

 

7,715

 

Depreciation and amortization

 

9,424

 

5,837

 

-

 

15,261

 

 

We compute operating income for each segment based on net sales revenue, less cost of goods sold, SG&A and any impairment charges associated with the segment. The SG&A used to compute each segment’s operating income is comprised of SG&A directly associated with the segment, plus overhead expenses that are allocable to the segment. We make allocations of overhead between operating segments using a number of relevant allocation criteria, depending on the nature of the expense, the most significant of which are relative revenues, estimates of relative labor expenditures, headcount, and facility square footage.  The two months operations of the Healthcare / Home Environment segment’s operations included in our fiscal 2011 consolidated statement of income did not include any allocation of corporate overhead.  Beginning in fiscal 2012, we began making an allocation of corporate overhead to the Healthcare / Home Environment segment. For fiscal 2012, this allocation totaled $6.02 million. As we gain operating experience with the new segment and continue to integrate the operations of the Healthcare / Home Environment segment, we expect to allocate the costs of certain operating functions to be shared between segments. As we decide such operating cost allocations are appropriate, there may be some additional reduction in the operating results of the Healthcare / Home Environment segment offset by increases in operating income of the Personal Care and Housewares segments. The extent of this operating income impact between the segments has not yet been determined. We do not allocate other items of income and expense, including income taxes to operating segments.

 

Our domestic and international net sales revenue and long-lived assets for the years ended the last day of February are as follows:

 

 

 

Fiscal Years Ended the Last Day of February,

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

SALES REVENUE, NET:

 

 

 

 

 

 

 

United States

 

$

906,864

 

$

619,378

 

$

511,027

 

International

 

274,812

 

157,665

 

136,599

 

Total

 

$

1,181,676

 

$

777,043

 

$

647,626

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LONG-LIVED ASSETS:

 

 

 

 

 

 

 

United States

 

$

525,537

 

$

358,903

 

$

109,435

 

International:

 

 

 

 

 

 

 

Barbados

 

406,213

 

416,180

 

362,162

 

Other international

 

15,437

 

4,990

 

3,782

 

Subtotal

 

421,650

 

421,170

 

365,944

 

Total

 

$

947,187

 

$

780,073

 

$

475,379

 

 

The table above classifies assets based upon the country where we hold legal title.

 

Worldwide sales to our largest customer and its affiliates accounted for approximately 20, 17 and 18 percent of our net sales revenue in fiscal 2012, 2011 and 2010, respectively.  Of these sales, approximately 93, 91 and 84 percent were within the U.S. during fiscal 2012, 2011 and 2010, respectively.

 

Sales to our second largest customer, all within the United States, accounted for approximately 11, 10 and 9 percent of our net sales revenue in fiscal 2012, 2011 and 2010, respectively.

 

Sales to our third largest customer, all within the United States, accounted for approximately 6, 8 and 10 percent of our net sales revenue in fiscal 2012, 2011 and 2010.  No other customers accounted for ten percent or more of net sales revenue during those fiscal years.

 

HELEN OF TROY LIMITED AND SUBSIDIARIES

Schedule II - Valuation and Qualifying Accounts

(in thousands)

 

 

 

 

Additions

 

 

 

 

 

 

 

 

 

Charged to

 

 

 

 

 

 

 

 

 

Beginning

 

cost and

 

Net charge to

 

 

 

Ending

 

Description

 

Balance

 

expenses (1)

 

sales revenue (2)

 

Deductions (3)

 

Balance

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended February 29, 2012

 

 

 

 

 

 

 

 

 

 

 

Allowances for doubtful accounts

 

$

2,108

 

$

548

 

$

-

 

$

845

 

$

1,811

 

Allowances for back-to-stock returns

 

2,040

 

-

 

1,690

 

-

 

$

3,730

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended February 28, 2011

 

 

 

 

 

 

 

 

 

 

 

Allowances for doubtful accounts

 

$

1,390

 

$

865

 

$

-

 

$

147

 

$

2,108

 

Allowances for back-to-stock returns

 

1,956

 

-

 

84

 

-

 

$

2,040

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended February 28, 2010

 

 

 

 

 

 

 

 

 

 

 

Allowances for doubtful accounts

 

$

1,916

 

$

448

 

$

-

 

$

974

 

$

1,390

 

Allowances for back-to-stock returns

 

1,840

 

-

 

116

 

-

 

$

1,956

 

 

(1)

Represents periodic charges to the provision for doubtful accounts.

 

 

(2)

Represents net charges during the period to sales returns and allowances.

 

 

(3)

Represents write-offs of doubtful accounts net of recoveries of previously reserved amounts.