Document And Entity Information
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9 Months Ended | |
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Jun. 28, 2015
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Aug. 03, 2015
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Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 28, 2015 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2015 | |
Entity Registrant Name | SB/RH Holdings, LLC | |
Trading Symbol | spb | |
Entity Central Index Key | 0001592706 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 0 |
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions, as well as valuations under fresh start reporting. No definition available.
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Condensed Consolidated Statements Of Financial Position (Parenthetical) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
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Sep. 30, 2014
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Consolidated Statements Of Financial Position [Abstract] | ||
Allowance for doubtful accounts, trade accounts receivable | $ 45.7 | $ 48.6 |
Accumulated depreciation, property, plant and equipment | $ 310.6 | $ 264.5 |
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Condensed Consolidated Statements Of Operations (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Jun. 28, 2015
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Jun. 29, 2014
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Jun. 28, 2015
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Jun. 29, 2014
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Consolidated Statements Of Operations [Abstract] | ||||
Net sales | $ 1,247.5 | $ 1,128.5 | $ 3,382.3 | $ 3,250.8 |
Cost of goods sold | 789.5 | 710.9 | 2,179.0 | 2,089.6 |
Restructuring and related charges | 0.6 | 0.4 | 3.3 | |
Gross profit | 458.0 | 417.0 | 1,202.9 | 1,157.9 |
Selling | 184.8 | 171.8 | 517.7 | 501.8 |
General and administrative | 88.2 | 78.0 | 238.1 | 225.3 |
Research and development | 12.9 | 12.2 | 36.9 | 35.2 |
Acquisition and integration related charges | 24.2 | 2.7 | 44.2 | 14.5 |
Restructuring and related charges | 10.5 | 3.1 | 21.9 | 12.7 |
Total operating expenses | 320.6 | 267.8 | 858.8 | 789.5 |
Operating income | 137.4 | 149.2 | 344.1 | 368.4 |
Interest expense | 112.9 | 47.3 | 206.5 | 151.7 |
Other expense, net | 1.7 | 2.8 | 5.6 | 4.4 |
Income from continuing operations before income taxes | 22.8 | 99.1 | 132.0 | 212.3 |
Income tax expense | (23.8) | 20.5 | 4.8 | 43.8 |
Net income (loss) | 46.6 | 78.6 | 127.2 | 168.5 |
Less: Net income attributable to non-controlling interest | 0 | 0.2 | 0.2 | |
Net income attributable to controlling interest | $ 46.6 | $ 78.6 | $ 127.0 | $ 168.3 |
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Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Jun. 28, 2015
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Jun. 29, 2014
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Jun. 28, 2015
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Jun. 29, 2014
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Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ||||
Net income | $ 46.6 | $ 78.6 | $ 127.2 | $ 168.5 |
Foreign currency translation gain | 9.5 | 8.4 | (68.6) | 5.6 |
Unrealized gain on hedging derivative instruments | (12.0) | (1.4) | (8.6) | (1.6) |
Defined benefit pension gain | (0.6) | 0.4 | 2.8 | 0.5 |
Other comprehensive loss, net of tax | (3.1) | 7.4 | (74.4) | 4.5 |
Comprehensive income (loss) | 43.5 | 86.0 | 52.8 | 173.0 |
Less: Comprehensive income attributable to non-controlling interest | 0.2 | 0.4 | ||
Comprehensive income (loss) attributable to controlling interest | $ 43.5 | $ 86.0 | $ 52.6 | $ 172.6 |
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Condensed Consolidated Statement Of Cash Flows (Parenthetical)
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Dec. 04, 2015
6.125% Notes [Member]
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Jun. 28, 2015
6.125% Notes [Member]
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Jun. 28, 2015
Notes 5.75% Due July 15, 2025 [Member]
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May 20, 2015
Notes 5.75% Due July 15, 2025 [Member]
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Interest rate | 6.125% | 6.125% | 5.75% | 5.75% |
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Description Of Business
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9 Months Ended |
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Jun. 28, 2015
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Description Of Business [Abstract] | |
Description Of Business |
SB/RH Holdings, LLC., a Delaware limited liability company (“SB/RH”, or the “Company”), is a diversified global branded consumer products company. SB/RH Holdings, LLC, is a wholly owned subsidiary of Spectrum Brands Holdings, Inc. (“SB Holdings”, or the “Parent”). SB Holdings' common stock trades on the New York Stock Exchange (the “NYSE”) under the symbol “SPB.” The Company’s operations include the worldwide manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company’s operations also include the manufacturing and marketing of specialty pet supplies. The Company also manufactures and markets herbicides, insecticides and insect repellents in North America. The Company also designs, markets and distributes a broad range of branded small appliances and personal care products. The Company also designs, markets, distributes and sells certain hardware, home improvement and plumbing products. The Company’s operations utilize manufacturing and product development facilities located in the United States (“U.S.”), Europe, Latin America and Asia. On May 21, 2015, the Company acquired Armored AutoGroup Parent, Inc. (“AAG”). AAG is a consumer products company consisting primarily of Armor All and STP products, two of the most recognizable brands in the automotive aftermarket appearance products and performance chemicals categories, respectively, and the AC/PRO brand of do-it-yourself automotive air conditioner recharge products. For information pertaining to the AAG acquisition, see Note 13, “Acquisitions.” The Company sells its products in approximately 160 countries through a variety of trade channels, including retailers, wholesalers and distributors, hearing aid professionals, industrial distributors and original equipment manufacturers and enjoys name recognition in its markets under the Rayovac, VARTA and Remington brands, each of which has been in existence for more than 80 years, and under the Tetra, 8-in-1, Dingo, Nature's Miracle, IAMS, Eukanuba, Healthy-Hide, Digest-eeze, Spectracide, Cutter, Hot Shot, Black & Decker, George Foreman, Russell Hobbs, Farberware, Black Flag, FURminator, Kwikset, Weiser, Baldwin, National Hardware, Stanley, Pfister and the previously mentioned AAG brands. The Company’s global branded consumer products have positions in seven major product categories: consumer batteries, small appliances, personal care, hardware and home improvement, pet supplies, home and garden controls and auto care, which consists of the recently acquired AAG business. The Company manages the businesses in five vertically integrated, product-focused reporting segments: (i) Global Batteries & Appliances, which consists of the Company’s worldwide battery, personal care and small appliances primarily in the kitchen and home product categories (“Global Batteries & Appliances”); (ii) Hardware & Home Improvement, which consists of the Company's worldwide hardware, home improvement and plumbing business (“Hardware & Home Improvement”); (iii) Global Pet Supplies, which consists of the Company’s worldwide pet supplies business (“Global Pet Supplies”); (iv) Home and Garden, which consists of the Company’s home and garden and insect control business (“Home and Garden”); and (v) Global Auto Care, which consists of the Company’s automotive aftermarket appearance products, performance chemicals/additives and do-it-yourself automotive air conditioner recharge (“Global Auto Care”). Management reviews the performance of the Company based on these segments, which also reflect the manner in which the Company’s management monitors performance and allocates resources. For information pertaining to our business segments, see Note 11, “Segment Results.”
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Significant Accounting Policies
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Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies | 2 SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation: The condensed consolidated financial statements include the accounts of SB/RH and its subsidiaries and are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). All intercompany transactions have been eliminated. These condensed consolidated financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include all adjustments (which are normal and recurring in nature) necessary to present fairly the financial position of the Company at June 28, 2015, the results of operations for the three and nine month periods ended June 28, 2015 and June 29, 2014, the comprehensive income (loss) for the three and nine month periods ended June 28, 2015 and June 29, 2014 and the cash flows for the nine month periods ended June 28, 2015 and June 29, 2014. Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2014. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Intangible Assets: Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer relationships and proprietary technology intangibles are amortized, using the straight-line method, over their estimated useful lives. Excess of cost over fair value of net assets acquired (goodwill) and indefinite lived trade name intangibles are not amortized. GAAP requires that goodwill and indefinite-lived intangible assets be tested for impairment annually or more often if an event or circumstance indicates that an impairment loss may have been incurred. Goodwill is tested for impairment at the reporting unit level, with such groupings being consistent with the Company’s reportable segments. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. Indefinite lived trade name intangibles are tested for impairment at least annually by comparing the fair value with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. The Company’s annual impairment testing is completed at the August financial period end. Management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as unexpected adverse business conditions, economic factors, unanticipated technological change or competitive activities, loss of key personnel, and acts by governments and courts may signal that an asset has become impaired. Shipping and Handling Costs: The Company incurred shipping and handling costs of $68.3 and $199.1 for the three and nine month periods ended June 28, 2015, respectively, and $66.2 and $194.5 for the three and nine months periods ended June 29, 2014, respectively. These costs are included in Selling expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited). Shipping and handling costs include costs incurred with third-party carriers to transport products to customers as well as salaries and overhead costs related to activities to prepare the Company’s products for shipment from its distribution facilities. Concentrations of Credit Risk: Trade receivables subject the Company to credit risk. Trade accounts receivable are carried at net realizable value. The Company extends credit to its customers based upon an evaluation of the customer’s financial condition and credit history, and generally does not require collateral. The Company monitors its customers’ credit and financial condition based on changing economic conditions and makes adjustments to credit policies as required. Provisions for losses on uncollectible trade receivables are determined based on ongoing evaluations of the Company’s receivables, principally on the basis of historical collection experience and evaluations of the risks of nonpayment for a given customer. The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This customer represented approximately 15% of the Company’s Net sales during both the three and nine month periods ended June 28, 2015, and 15% and 16% of the Company’s Net sales for the three and nine month periods ended June 29, 2014, respectively. This customer also represented approximately 13% and 14% of the Company’s Trade accounts receivable, net at June 28, 2015 and September 30, 2014, respectively. Approximately 33% and 39% of the Company’s Net sales during the three and nine month periods ended June 28, 2015, respectively, and 37% and 41% of the Company’s Net sales during the three and nine month periods ended June 29, 2014, respectively, occurred outside the U.S. These sales and related receivables are subject to varying degrees of credit, currency, political and economic risk. The Company monitors these risks and makes appropriate provisions for ability to collect based on an assessment of the risks present. Stock-Based Compensation: Our stock compensation programs are administered by SB Holdings. The Company measures the cost of its stock-based compensation plans based on the fair value of its employee stock awards and recognizes these costs over the requisite service period of the awards. Total stock compensation expense associated with restricted stock units recognized by the Company during the three and nine month periods ended June 28, 2015 was $15.2 and $32.2, respectively. Total stock compensation expense associated with restricted stock units recognized by the Company during the three and nine month periods ended June 29, 2014 was $9.2 and $26.0, respectively. The remaining unrecognized pre-tax compensation cost related to restricted stock units at June 28, 2015 was $32.0. The Company granted approximately 0.02 million and 0.43 million restricted stock units during the three and nine month periods ended June 28, 2015, respectively. The 0.43 million restricted stock units granted during the nine months ended June 28, 2015 include 0.13 million restricted stock units that vested immediately and 0.02 million time-based restricted stock units that vest over a period ranging from one to two years. The remaining 0.28 million restricted stock units are performance and time-based and vest over a period ranging from one to two years. The total market value of the restricted stock units on the dates of the grants was approximately $39.3. The Company granted approximately no and 0.41 million restricted stock units during the three and nine month periods ended June 29, 2014, respectively. The 0.41 million restricted stock units granted during the nine months ended June 29, 2014 include 0.08 million time-based restricted stock units that vested immediately and .04 million time-based restricted stock units that vest over a one year period. The remaining 0.29 million restricted stock units are performance and time-based and vest over a two year period. The total market value of the restricted stock units on the dates of the grants was approximately $28.7. The fair value of restricted stock units is determined based on the market price of SB Holdings’ shares of common stock on the grant date. A summary of the activity in the Company’s non-vested restricted stock units during the nine months ended June 28, 2015 is as follows:
Acquisition and Integration Related Charges: Acquisition and integration related charges reflected in Operating expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited) include, but are not limited to, transaction costs such as banking, legal, accounting and other professional fees directly related to acquisitions, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination expenses associated with mergers and acquisitions. The following table summarizes acquisition and integration related charges incurred by the Company during the three and nine month periods ended June 28, 2015 and June 29, 2014:
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Comprehensive Income (Loss) | 3 COMPREHENSIVE INCOME (LOSS) Comprehensive income (loss) includes foreign currency translation gains and losses on assets and liabilities of foreign subsidiaries, effects of exchange rate changes on intercompany balances of a long-term nature and transactions designated as a hedge of a net investment in a foreign subsidiary, deferred gains and losses on derivative financial instruments designated as cash flow hedges and amortization of deferred gains and losses associated with the Company’s pension plans. The foreign currency translation gains and losses for the three and nine month periods ended June 28, 2015 and June 29, 2014 were principally attributable to the impact of translation of the net assets of the Company’s European and Latin American operations, which primarily have functional currencies in Euros, Pounds Sterling and Brazilian Real. For information pertaining to the reclassification of unrealized gains and losses on derivative instruments, see Note 7, “Derivative Financial Instruments.” The components of Other comprehensive income (loss), net of tax, for the three and nine month periods ended June 28, 2015 and June 29, 2014 are as follows:
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Inventories | 4 INVENTORIES Inventories consist of the following:
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Goodwill And Intangible Assets
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Goodwill And Intangible Assets | 5 GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets of the Company consist of the following:
During the nine month period ended June 28, 2015, the Company recorded additions to goodwill and intangible assets related to the acquisitions of Tell Manufacturing, Inc. (“Tell”), Proctor & Gamble’s European pet food business consisting of the IAMS and Eukanuba brands (“European IAMS and Eukanuba”), Salix Animal Health LLC (“Salix”) and AAG. AAG is reported as a stand alone reporting segment under “Global Auto Care”. See Note 11 “Segment Results,” and Note 13 “Acquisitions,” for further information.
Intangible assets subject to amortization include proprietary technology, customer relationships and certain trade names. The useful lives for proprietary technology assets associated with the Global Batteries & Appliances segment, the Hardware & Home Improvement segment, the Global Pet Supplies segment and the Global Auto Care segment range from 9 to 17 years, 8 to 9 years, 4 to 9 years and 8 to 10 years, respectively. The useful lives of customer relationships range from 15 to 20 years within the Global Batteries & Appliances segment, are 20 years within both the Hardware & Home Improvement and Home and Garden segments, range from 2 to 20 years within the Global Pet Supplies segment and range from 13 to 15 years within the Global Auto Care segment. The useful lives for trade names are up to 12 years within the Global Batteries & Appliances segment, range from 5 to 8 years within the Hardware & Home Improvement segment, and range from 3 to 13 years within the Global Pet Supplies segment.
The carrying value and accumulated amortization for intangible assets subject to amortization are as follows:
Amortization expense for the three and nine month periods ended June 28, 2015 and June 29, 2014 is as follows:
The Company estimates annual amortization expense of intangible assets for the next five fiscal years will approximate $90.0 per year.
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Debt | 6 DEBT Debt consists of the following:
The Company has the following debt instruments outstanding at June 28, 2015: (i) senior secured term loan facilities pursuant to a senior credit agreement (the “Senior Credit Agreement”) which consist of a $1,450.0 U.S. dollar denominated term loan facility (“USD Term Loan”), a $60.9 Canadian dollar (“CAD”) denominated term loan facility (“CAD Term Loan”), a $336.2 Euro denominated term loan facility (“Euro Term Loan”) (together, the “Term Loan”); (ii) $520.0 6.375% unsecured notes due 2020 (the “6.375% Notes”); (iii) $570.0 6.625% unsecured notes due 2022 (the “ 6.625% Notes”); (iv) $250.0 6.125% unsecured notes due 2024 (the “6.125% Notes”); (v) $1,000.0 5.75% unsecured notes due 2025 (the “5.75% Notes”); and (vi) a $500.0 cash flow revolving credit facility pursuant to the Senior Credit Agreement (the “Revolver Facility”). Interest Terms Certain of the Company’s debt instruments are subject to variable interest rates. The variable rates disclosed in the table above are weighted averages based on outstanding debt balances and corresponding rates in effect as of the period end. At June 28, 2015, the Company’s variable interest rate terms are as follows: in the case of the USD Term Loan, either adjusted LIBOR (International Exchange London Interbank Offered Rate), subject to a 0.75% floor, plus 3.0% per annum, or base rate plus 2.0% per annum; in the case of the CAD Term Loan either CDOR (Canadian Dollar Offered Rate), subject to a 0.75% floor (0.99% at June 28, 2015) plus 3.5% per annum, or base rate plus 2.5% per annum; in the case of the Euro Term Loan EURIBOR (Euro Interbank Offered Rate), subject to a 0.75% floor, plus 2.75% per annum, with no base rate option available; and in the case of the Revolver Facility, either adjusted LIBOR plus 3.0% per annum, or base rate plus 2.0% per annum. Term Loan On June 23, 2015, Spectrum Brands, Inc., a subsidiary of the Company (“SBI”), entered into term loan facilities pursuant to a Senior Credit Agreement consisting of a $1,450.0 USD Term Loan due June 23, 2022, a $75.0 CAD Term Loan due June 23, 2022 and a €300.0 Euro Term Loan due June 23, 2022, and entered into a $500.0 Revolver Facility due June 23, 2020. The proceeds from the Term Loan facilities and draws on the Revolver Facility were used to repay SBI’s then-existing senior term credit facility, repay SBI’s outstanding 6.75% senior unsecured notes due 2020, repay and replace SBI’s then-existing asset based revolving loan facility, and to pay fees and expenses in connection with the refinancing and for general corporate purposes. Subject to certain mandatory prepayment events, the Term Loan is subject to repayment according to scheduled amortizations, with the final payments of all amounts outstanding, plus accrued and unpaid interest, due at maturity. The Senior Credit Agreement contains customary affirmative and negative covenants, including, but not limited to, restrictions on SBI and its restricted subsidiaries’ ability to incur indebtedness, create liens, make investments, pay dividends or make certain other distributions, and merge or consolidate or sell assets, in each case subject to certain exceptions set forth in the Senior Credit Agreement. Pursuant to a guarantee agreement, SB/RH Holdings, LLC and the material wholly-owned domestic subsidiaries of SBI have guaranteed SBI’s obligations under the Senior Credit Agreement and related loan documents. Pursuant to a security agreement, SBI and such subsidiary guarantors have pledged substantially all of their respective assets to secure such obligations and, in addition, the Company has pledged the capital stock of SBI to secure such obligations. The Senior Credit Agreement also provides for customary events of default including payment defaults and cross-defaults to other material indebtedness. In addition, the Senior Credit Agreement, solely with respect to the Revolver Facility, contains a financial covenant on the maximum net total leverage ratio that is tested on the last day of each fiscal quarter commencing with the fiscal quarter ending September 30, 2015. The USD Term Loan was issued at a 0.25% discount and was recorded net of the $3.6 amount incurred. The discount will be amortized as an adjustment to the carrying value of principal with a corresponding charge to interest expense over the remaining life of the USD Term Loan. In connection with the issuance of the USD Term Loan, the Company recorded $12.4 of fees of which $4.5 are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the USD Term Loan with the remainder of $7.9 reflected as an increase to interest expense during both the three and nine month periods ended June 28, 2015. The Company recorded accelerated amortization of portions of the unamortized discount and unamortized Debt issuance costs related to the refinancing of the USD Term Loan totaling $5.1 as an increase to interest expense during both the three and nine month periods ended June 28, 2015. The CAD Term Loan was issued at a 1.0% discount and was recorded net of the $0.8 CAD amount incurred. The discount will be amortized as an adjustment to the carrying value of principal with a corresponding charge to interest expense over the remaining life of the CAD Term Loan. In connection with the issuance of the CAD Term Loan, the Company recorded $0.6 of fees of which $0.4 are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the CAD Term Loan with the remainder $0.2 reflected as an increase to interest expense during both the three and nine month periods ended June 28, 2015. The Company recorded accelerated amortization of portions of the unamortized discount and unamortized Debt issuance costs related to the refinancing of the CAD Term Loan totaling $0.4 as an increase to interest expense during both the three and nine month periods ended June 28, 2015. The Euro Term Loan was issued at a 0.25% discount and was recorded net of the €0.8 amount incurred. The discount will be amortized as an adjustment to the carrying value of principal with a corresponding charge to interest expense over the remaining life of the Euro Term Loan. SBI previously issued €150.0 of term debt in the three month period ended December 28, 2014 and repaid the same term debt in the three month period ended June 28, 2015 in connection with the issuance of the Euro Term Loan. During the three and nine month periods ended June 28, 2015, the Company recorded $2.6 and $4.9 USD of fees, respectively, related to these Euro denominated debt transactions, of which $2.6 are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the Euro Term Loan with the remainder of $2.3 reflected as an increase to interest expense during both the three and nine month periods ended June 28, 2015. The Company recorded accelerated amortization of portions of the unamortized discount and unamortized Debt issuance costs related to the refinancing of the Euro Term Loan totaling $2.3 as an increase to interest expense during both the three and nine month periods ended June 28, 2015. 6.125% Notes On December 4, 2014, SBI issued $250.0 aggregate principal amount of 6.125% Notes at par value, due December 15, 2024. The 6.125% Notes are guaranteed by the Company’s and SBI’s existing and future domestic subsidiaries. SBI may redeem all or a part of the 6.125% Notes, at any time on or after December 15, 2019, at specified redemption prices. In addition, prior to December 15, 2019, SBI may redeem the notes at a redemption price equal to 100% of the principal amount plus a “make-whole” premium. SBI is also entitled to redeem up to 35% of the aggregate principal amount of the notes before December 15, 2017 with an amount of cash equal to the net proceeds that SBI raises in equity offerings at specified redemption prices. Further, the indenture governing the 6.125% Notes (the “2024 Indenture”) requires SBI to make an offer, in cash, to repurchase all or a portion of the applicable outstanding notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of SBI, as defined in the 2024 Indenture. The 2024 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. In addition, the 2024 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2024 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 6.125% Notes. If any other event of default under the 2024 Indenture occurs and is continuing, the trustee for the 2024 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 6.125% Notes, may declare the acceleration of the amounts due under those notes. The Company recorded $4.6 of fees in connection with the offering of the 6.125% Notes during the nine month periods ended June 28, 2015. The fees are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the 6.125% Notes. 5.75% Notes On May 20, 2015, in connection with the acquisition of the AAG Business, SBI issued $1,000.0 aggregate principal amount of 5.75% Notes at par value, due July 15, 2025. The 5.75% Notes are guaranteed by the Company’s and SBI’s existing and future domestic subsidiaries. SBI may redeem all or a part of the 5.75% Notes, at any time on or after July 15, 2020, at specified redemption prices. In addition, prior to July 15, 2020, SBI may redeem the notes at a redemption price equal to 100% of the principal amount plus a “make-whole” premium. SBI is also entitled to redeem up to 35% of the aggregate principal amount of the notes before July 15, 2018 with an amount of cash equal to the net proceeds that SBI raises in equity offerings at specified redemption prices. Further, the indenture governing the 5.75% Notes (the “2025 Indenture”) requires SBI to make an offer, in cash, to repurchase all or a portion of the applicable outstanding notes for a specified redemption price, including a redemption premium, upon the occurrence of a change of control of SBI, as defined in the 2025 Indenture. The 2025 Indenture contains customary covenants that limit, among other things, the incurrence of additional indebtedness, payment of dividends on or redemption or repurchase of equity interests, the making of certain investments, expansion into unrelated businesses, creation of liens on assets, merger or consolidation with another company, transfer or sale of all or substantially all assets, and transactions with affiliates. In addition, the 2025 Indenture provides for customary events of default, including failure to make required payments, failure to comply with certain agreements or covenants, failure to make payments when due or on acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the 2025 Indenture arising from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the 5.75% Notes. If any other event of default under the 2025 Indenture occurs and is continuing, the trustee for the 2025 Indenture or the registered holders of at least 25% in the then aggregate outstanding principal amount of the 5.75% Notes, may declare the acceleration of the amounts due under those notes. The Company recorded $19.5 of fees in connection with the offering of the 5.75% Notes during both the three and nine month periods ended June 28, 2015. The fees are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the 5.75% Notes. 6.75% Notes On June 23, 2015 SBI called the $300.0 outstanding aggregate principal amount of 6.75% senior unsecured notes due 2020 (the “6.75% Notes”). In connection with the call, SBI paid the trustee principal, interest and a call premium sufficient to redeem the $300.0 of 6.75% Notes outstanding. The trustee under the indenture governing the 6.75% Notes accepted those funds in trust for the benefit of the holders of the 6.75% Notes and has acknowledged the satisfaction and discharge of the 6.75% Notes and the indenture governing the 6.75% Notes. On July 23, 2015, the Trustee redeemed the 6.75% Notes. In connection with the call, the Company recorded $15.2 of fees and expenses as a cash charge to interest expense in the Condensed Consolidated Statements of Operations (unaudited) during both the three and nine month periods ended June 28, 2015. In connection with the satisfaction and discharge process, the Company recorded cash charges of $1.7 to interest expense in the Condensed Consolidated Statements of Operations (unaudited) during both the three and nine month periods ended June 28, 2015. In addition,$4.1 of debt issuance costs related to the 6.75% Notes were written off as a non-cash charge to interest expense in the Condensed Consolidated Statements of Operations (unaudited) in both the three and nine month periods ended June 28, 2015. Revolver Facility As noted above, on June 23, 2015, SBI entered into a new Revolver Facility under the Senior Credit Agreement for $500.0 of aggregate commitment maturing June 23, 2020. In connection with the new Revolver Facility, the Company incurred $5.7 of fees all of which are classified as Debt issuance costs within the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) and are amortized as an adjustment to interest expense over the remaining life of the Revolver Facility. The Company recorded accelerated amortization of portions of the unamortized Debt Issuance costs related to the refinancing of the Prior Revolver Facility totaling $1.1 as an increase to interest expense during both the three and nine month periods ended June 28, 2015. As a result of borrowings and payments under the Revolver Facility, at June 28, 2015, the Company had aggregate borrowing availability of approximately $419.3, net of outstanding letters of credit of $33.2.
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Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | 7 DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are used by the Company principally in the management of its interest rate, foreign currency exchange rate and raw material price exposures. The Company does not hold or issue derivative financial instruments for trading purposes. Derivative instruments are reported at fair value in the Condensed Consolidated Statements of Financial Position (Unaudited). When hedge accounting is elected at inception, the Company formally designates the financial instrument as a hedge of a specific underlying exposure and documents both the risk management objectives and strategies for undertaking the hedge. The Company formally assesses both at the inception of the hedging instrument and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the forecasted cash flows of the related underlying exposure. Because of the high degree of effectiveness between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the forecasted cash flows of the underlying exposures being hedged. Any ineffective portion of a financial instrument’s change in fair value is recognized in earnings in the period incurred. For derivatives that are not designated as cash flow hedges, or do not qualify for hedge accounting treatment, the change in the fair value is also recognized in earnings in the period incurred. Derivative Financial Instruments Cash Flow Hedges The Company uses interest rate swaps to manage its interest rate risk. The swaps are designated as cash flow hedges with the changes in fair value recorded in Accumulated Other Comprehensive Income (Loss) (“AOCI”) and as a derivative hedge asset or liability, as applicable. The swaps settle periodically in arrears with the related amounts for the current settlement period payable to, or receivable from, the counter-parties included in accrued liabilities or receivables, respectively, and recognized in earnings as an adjustment to Interest expense from the underlying debt to which the swap is designated. At both June 28, 2015 and September 30, 2014, the Company had a series of U.S. dollar denominated interest rate swaps outstanding which effectively fix the interest on floating rate debt, exclusive of lender spreads, at 1.36% for a notional principal amount of $300.0 through April 2017. The derivative net loss on these contracts recorded in AOCI by the Company at June 28, 2015 was $1.8, net of tax benefit of $0.0. At June 28, 2015, the portion of derivative net losses estimated to be reclassified from AOCI into earnings by the Company over the next 12 months is $1.4, net of tax. The Company’s interest rate swap derivative financial instruments at June 28, 2015 and September 30, 2014 are summarized as follows:
The Company periodically enters into forward foreign exchange contracts to hedge the risk from forecasted foreign currency denominated third party and intercompany sales or payments. These obligations generally require the Company to exchange foreign currencies for U.S. Dollars, Euros, Pounds Sterling, Australian Dollars, Brazilian Reals, Mexican Pesos, Canadian Dollars or Japanese Yen. These foreign exchange contracts are cash flow hedges of fluctuating foreign exchange related to sales of product or raw material purchases. Until the sale or purchase is recognized, the fair value of the related hedge is recorded in AOCI and as a derivative hedge asset or liability, as applicable. At the time the sale or purchase is recognized, the fair value of the related hedge is reclassified as an adjustment to Net sales or purchase price variance in Cost of goods sold. At June 28, 2015, the Company had a series of foreign exchange derivative contracts outstanding through September 2016 with a contract value of $293.8. The derivative net gain on these contracts recorded in AOCI by the Company at June 28, 2015 was $3.8, net of tax expense of $1.6. At June 28, 2015, the portion of derivative net gains estimated to be reclassified from AOCI into earnings by the Company over the next 12 months is $4.2, net of tax. The Company is exposed to risk from fluctuating prices for raw materials, specifically zinc and brass used in its manufacturing processes. The Company hedges a portion of the risk associated with the purchase of these materials through the use of commodity swaps. The hedge contracts are designated as cash flow hedges with the fair value changes recorded in AOCI and as a hedge asset or liability, as applicable. The unrecognized changes in fair value of the hedge contracts are reclassified from AOCI into earnings when the hedged purchase of raw materials also affects earnings. The swaps effectively fix the floating price on a specified quantity of raw materials through a specified date. At June 28, 2015, the Company had a series of zinc swap contracts outstanding through September 2016 for 7.8 thousand metric tons with a contract value of $17.0. At June 28, 2015, the Company had a series of brass swap contracts outstanding through March 2017 for 1.7 thousand metric tons with a contract value of $8.1. The derivative net loss on these contracts recorded in AOCI by the Company at June 28, 2015 was $1.4, net of tax benefit of $0.2. At June 28, 2015, the portion of derivative net loss estimated to be reclassified from AOCI into earnings by the Company over the next 12 months is $1.3, net of tax. Derivative Contracts Not Designated as Hedges for Accounting Purposes The Company periodically enters into forward and swap foreign exchange contracts to economically hedge the risk from third party and intercompany payments resulting from existing obligations. These obligations generally require the Company to exchange foreign currencies for U.S. Dollars, Canadian Dollars, Euros or Australian Dollars. These foreign exchange contracts are fair value hedges of a related liability or asset recorded in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited). The gain or loss on the derivative hedge contracts is recorded in earnings as an offset to the change in value of the related liability or asset at each period end. At June 28, 2015 and September 30, 2014, the Company had $139.2 and $108.9, respectively, of notional value of such foreign exchange derivative contracts outstanding. The Company periodically enters into commodity swap contracts to economically hedge the risk from fluctuating prices for raw materials, specifically the pass-through of market prices for silver used in manufacturing purchased watch batteries. The Company hedges a portion of the risk associated with these materials through the use of commodity swaps. The swap contracts are designated as economic hedges with the unrealized gain or loss recorded in earnings and as an asset or liability at each period end. The swaps effectively fix the floating price on a specified quantity of silver through a specified date. At June 28, 2015, the Company had a series of such swap contracts outstanding through September 2015 for 10.0 thousand troy ounces with a contract value of $0.2. At September 30, 2014, the Company had a series of such swap contracts outstanding through September 30, 2015 for 25.0 thousand troy ounces with a contract value of $0.4. Fair Value of Derivative Instruments The Company discloses its derivative instruments and hedging activities in accordance with ASC Topic 815: “Derivatives and Hedging” (“ASC 815”). The fair value of the Company’s outstanding derivative contracts recorded as assets in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) are as follows:
The fair value of the Company’s outstanding derivative contracts recorded as liabilities in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) are as follows:
Changes in AOCI from Derivative Instruments For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on derivatives representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. See Note 3, “Comprehensive Income (Loss)” for further information. The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the three month period ended June 28, 2015, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the nine month period ended June 28, 2015, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the three month period ended June 29, 2014, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the nine month period ended June 29, 2014, pretax:
Other Changes in Fair Value of Derivative Contracts For derivative instruments that are used to economically hedge the fair value of the Company’s third party and intercompany foreign currency payments, commodity purchases and interest rate payments, but are not designated as hedging instruments under ASC 815, the gain (loss) associated with the derivative contract is recognized in earnings in the period of change. During the three month periods ended June 28, 2015 and June 29, 2014, the Company recognized the following gains (losses) on these derivative contracts:
During the nine month periods ended June 28, 2015 and June 29, 2014, the Company recognized the following gains (losses) on these derivative contracts:
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Fair Value Of Financial Instruments
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Fair Value Of Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Of Financial Instruments | 8 FAIR VALUE OF FINANCIAL INSTRUMENTS
The Company’s net derivative portfolio as of June 28, 2015, contains Level 2 instruments and consists of commodity, interest rate and foreign exchange contracts. The fair values of these instruments as of June 28, 2015 were as follows asset/(liability):
The Company’s net derivative portfolio as of September 30, 2014, contains Level 2 instruments and consists of commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2014 were as follows:
The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and non-publicly traded debt approximate fair value. The fair values of long-term publicly traded debt are based on unadjusted quoted market prices (Level 1) and derivative financial instruments are generally based on quoted or observed market prices (Level 2). The carrying values of goodwill, intangible assets and other long-lived assets are tested annually, or more frequently if an event occurs that indicates an impairment loss may have been incurred, using fair value measurements with unobservable inputs (Level 3).
The carrying amounts and fair values of the Company’s financial instruments are summarized as follows asset/(liability):
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Employee Benefit Plans | 9 EMPLOYEE BENEFIT PLANS Pension Benefits The Company has various defined benefit pension plans covering some of its employees in the U.S. and certain employees in other countries, including the United Kingdom, the Netherlands, Germany, Guatemala, Brazil, Mexico and Taiwan. These pension plans generally provide benefits of stated amounts for each year of service. The Company’s results of operations for the three and nine month periods ended June 28, 2015 and June 29, 2014 reflect the following pension and deferred compensation benefit costs:
The Company funds its U.S. pension plans in accordance with the Internal Revenue Service defined guidelines and, where applicable, in amounts sufficient to satisfy the minimum funding requirements of applicable laws. Additionally, in compliance with the Company’s funding policy, annual contributions to non-U.S. defined benefit plans are equal to the actuarial recommendations or statutory requirements in the respective countries. The Company’s contributions to its pension and deferred compensation plans for the three and nine month periods ended June 28, 2015 and June 29, 2014 were as follows:
The Company sponsors a defined contribution pension plan for its domestic salaried employees, which allows participants to make contributions by salary reduction pursuant to Section 401(k) of the Internal Revenue Code. The Company also sponsors defined contribution pension plans for employees of certain foreign subsidiaries. Company contributions charged to operations, including discretionary amounts, for the three and nine month periods ended June 28, 2015 were $2.6 and $8.6, respectively. Company contributions charged to operations, including discretionary amounts, for the three and nine month periods ended June 29, 2014 were $3.4 and $10.7, respectively.
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Income Taxes
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Income Taxes [Abstract] | |
Income Taxes | 10 INCOME TAXES The Company's effective tax rates for the three and nine month periods ended June 28, 2015 were (104%) and 4%, respectively. The Company’s effective tax rate for both the three and nine month periods ended June 29, 2014 was 21%. The Company's effective tax rates differ from the U.S. federal statutory rate of 35% principally due to (i) income earned outside the U.S. that is subject to statutory rates lower than 35%, (ii) the release of valuation allowance on U.S. net operating loss deferred tax assets offsetting tax expense on both U.S. pretax income and foreign income not permanently reinvested, and (iii) deferred income tax expense related to the change in book versus tax basis of indefinite-lived intangibles, which are amortized for tax purposes but not for book purposes. Additionally, during the three month period ended June 28, 2015, the Company recognized a $31.4 tax benefit from the reversal of a portion of our U.S. valuation allowance on deferred tax assets in connection with the purchase of AAG. The Company records the impact of a tax position if it concludes that the position is more likely than not sustainable upon audit, based on the technical merits of the position. At June 28, 2015 and September 30, 2014, the Company had $15.7 and $11.3, respectively, of unrecognized tax benefits related to uncertain tax positions. At June 28, 2015 and September 30, 2014, the Company had approximately $4.1 and $3.5, respectively, of accrued interest and penalties related to the uncertain tax positions. Interest and penalties related to uncertain tax positions are reported as Income tax expense. As of June 28, 2015, certain of the Company's legal entities in various jurisdictions are undergoing income tax audits. The Company cannot predict the ultimate outcome of the examinations; however, it is reasonably possible that during the next 12 months, some portion of previously unrecognized tax benefits could be recognized.
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Segment Results
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Segment Results [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Results | 11 SEGMENT RESULTS The Company manages its business in five vertically integrated, product-focused reporting segments: (i) Global Batteries & Appliances; (ii) Hardware & Home Improvement; (iii) Global Pet Supplies; (iv) Home and Garden; and (v) Global Auto Care, which consists of the recently acquired AAG business. Global strategic initiatives and financial objectives for each reportable segment are determined at the corporate level. Each reportable segment is responsible for implementing defined strategic initiatives and achieving certain financial objectives and has a general manager responsible for the sales and marketing initiatives and financial results for product lines within that segment. Net sales and Cost of goods sold from transactions with other business segments have been eliminated. The gross contribution of intersegment sales is included in the segment selling the product to the external customer. Segment net sales are based upon the segment from which the product is shipped. The operating segment profits do not include restructuring and related charges, acquisition and integration related charges, interest expense, interest income and income tax expense. Corporate expenses primarily include general and administrative expenses and global long-term incentive compensation plan costs which are evaluated on a consolidated basis and not allocated to the Company’s operating segments. All depreciation and amortization included in income from operations is related to operating segments or corporate expense. Costs are identified to operating segments or corporate expense according to the function of each cost center. All capital expenditures are related to operating segments. Variable allocations of assets are not made for segment reporting.
Segment information for the three and nine month periods ended June 28, 2015 and June 29, 2014 is as follows:
Segment assets for the Company’s product-focused reporting segments and its Corporate function are as follows:
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Restructuring And Related Charges
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Restructuring And Related Charges [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Charges | 12 RESTRUCTURING AND RELATED CHARGES The Company reports restructuring and related charges associated with manufacturing and related initiatives in Cost of goods sold. Restructuring and related charges reflected in Cost of goods sold include, but are not limited to, termination, compensation and related costs associated with manufacturing employees, asset impairments relating to manufacturing initiatives, and other costs directly related to the restructuring or integration initiatives implemented. The Company reports restructuring and related charges relating to administrative functions in Operating expenses, such as initiatives impacting sales, marketing, distribution, or other non-manufacturing functions. Restructuring and related charges reflected in Operating expenses include, but are not limited to, termination and related costs, any asset impairments relating to the functional areas described above, and other costs directly related to the initiatives. The following table summarizes restructuring and related charges incurred by segment for the three and nine month periods ended June 28, 2015 and June 29, 2014:
HHI Business Rationalization Initiatives During the fourth quarter of the fiscal year ended September 30, 2014, the Company implemented a series of initiatives throughout the Hardware & Home Improvement business segment to reduce operating costs and exit low margin business outside the U.S. (the “HHI Business Rationalization Initiatives”). These initiatives include headcount reductions, the exit of certain facilities and the sale of a portion of the Hardware & Home Improvement operations in Canada. Costs associated with these initiatives, which are expected to be incurred through September 30, 2016, are projected to total approximately $11.0.
The Company recorded $6.3 and $7.7 of pretax restructuring and related charges during the three and nine month periods ended June 28, 2015, respectively, and no pretax restructuring and related charges during the three and nine month periods ended June 29, 2014, related to the HHI Business Rationalization Initiatives.
Global Expense Rationalization Initiatives Summary During the third quarter of the fiscal year ended September 30, 2013, the Company implemented a series of initiatives throughout the Company to reduce operating costs (the “Global Expense Rationalization Initiatives”). These initiatives consist of headcount reductions primarily in the Global Batteries & Appliances segment, the Global Pet Supplies segment, the Home and Garden segment and within Corporate. Costs associated with these initiatives, which are expected to be incurred through September 30, 2018, are currently projected to total approximately $44.0. The Company recorded $3.9 and $13.9 of pretax restructuring and related charges during the three and nine month periods ended June 28, 2015, respectively, and $2.9 and $11.6 of pretax restructuring and related charges during the three and nine month periods ended June 29, 2014, respectively, related to the Global Expense Rationalization Initiatives. The following table summarizes the remaining accrual balance associated with the Global Expense Rationalization Initiatives and the activity during the nine month period ended June 28, 2015:
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The following table summarizes the expenses incurred during the nine month period ended June 28, 2015, the cumulative amount incurred to date and the total future costs expected to be incurred associated with the Global Expense Rationalization Initiatives by operating segment:
The Company recorded $0.1 and $0.2 of pretax restructuring and related charges during the three and nine month periods ended June 28, 2015, respectively, and $0.6 and $3.7 of pretax restructuring and related charges during the three and nine month periods ended June 29, 2014, respectively, related to initiatives implemented by the HHI Business prior to the Company's acquisition on December 17, 2012. In connection with other restructuring efforts, the Company recorded $0.2 and $0.5 of pretax restructuring and related charges during the three and nine month periods ended June 28, 2015, respectively, and $0.2 and $0.7 of pretax restructuring and related charges during the three and nine month periods ended June 29, 2014, respectively.
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Acquisitions
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Acquisitions | 13 ACQUISITIONS In accordance with ASC Topic 805, “Business Combinations” (“ASC 805”), the Company accounts for acquisitions by applying the acquisition method of accounting. The acquisition method of accounting requires, among other things, that the assets acquired and liabilities assumed in a business combination be measured at their fair values as of the closing date of the acquisition. Tell Manufacturing On October 1, 2014, the Company completed the acquisition of Tell, a leading manufacturer and distributor of commercial doors, locks and hardware. The preliminary value of the consideration given in this acquisition, net of working capital adjustments, was $30.3 and is not significant individually. The results of Tell's operations since October 1, 2014 are included in the Company’s Condensed Consolidated Statements of Operations (Unaudited) and are reported as part of the Hardware & Home Improvement segment. Preliminary Valuation of Assets and Liabilities The assets acquired and liabilities assumed in the Tell acquisition have been measured at their fair values at October 1, 2014 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team, and is expected to be deductible for income tax purposes. The preliminary fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets, contingent liabilities, residual goodwill and income taxes. The preliminary fair values recorded for the assets acquired and liabilities assumed for Tell are as follows:
Preliminary Valuation Adjustments The Company performed a preliminary valuation of the acquired inventories, property, plant and equipment, trade name and customer relationships at October 1, 2014. A summary of the significant inputs to the valuation is as follows:
European IAMS and Eukanuba On December 31, 2014, the Company completed the acquisition of European IAMS and Eukanuba, leading premium brands for dogs and cats. The preliminary value of the consideration given in this acquisition, net of working capital adjustments, was $115.7 and is not significant individually. The results of European IAMS and Eukanuba's operations since December 31, 2014 are included in the Company’s Condensed Consolidated Statements of Operations (Unaudited) and are reported as part of the Global Pet Supplies segment. Preliminary Valuation of Assets and Liabilities The assets acquired and liabilities assumed in the European IAMS and Eukanuba acquisition have been measured at their fair values at December 31, 2014 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill. The preliminary fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets, contingent liabilities, residual goodwill and income taxes. The preliminary fair values recorded for the assets acquired and liabilities assumed for European IAMS and Eukanuba are as follows:
Preliminary Valuation Adjustments The Company performed a preliminary valuation of the acquired inventories, property, plant and equipment, trade names and customer relationships at December 31, 2014. A summary of the significant inputs to the valuation is as follows:
Salix On January 16, 2015, the Company completed the acquisition of Salix, the world’s leading and largest vertically integrated producer and distributor of premium, natural rawhide dog chews, treats and snacks. The preliminary value of the consideration given in this acquisition, net of working capital adjustments, was $148.3 and is not significant individually. The results of Salix's operations since January 16, 2015 are included in the Company’s Condensed Consolidated Statements of Operations (Unaudited) and are reported as part of the Global Pet Supplies segment. Preliminary Valuation of Assets and Liabilities The assets acquired and liabilities assumed in the Salix acquisition have been measured at their fair values at January 16, 2015 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team, and is expected to be deductible for income tax purposes. The preliminary fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets, contingent liabilities, residual goodwill and income taxes. The preliminary fair values recorded for the assets acquired and liabilities assumed for Salix are as follows:
Preliminary Valuation Adjustments The Company performed a preliminary valuation of the acquired inventories, property, plant and equipment, trade names, customer relationships and non-compete agreement at January 16, 2015. A summary of the significant inputs to the valuation is as follows:
Armored AutoGroup On May 21, 2015, the Company completed the acquisition of AAG, a consumer products company consisting primarily of Armor All and STP products, two of the most recognizable brands in the automotive aftermarket appearance products and performance chemicals categories, respectively, and the AC/PRO brand of do-it-yourself automotive air conditioner recharge products. The following table summarizes the preliminary consideration paid for AAG:
The results of AAG's operations since May 21, 2015 are included in the Company’s Condensed Consolidated Statements of Operations (Unaudited) and are reported as a stand alone segment under Global Auto Care. Preliminary Valuation of Assets and Liabilities The assets acquired and liabilities assumed in the AAG acquisition have been measured at their fair values at May 21, 2015 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill, which includes value associated with the assembled workforce including an experienced research team. The preliminary fair values recorded were determined based upon a valuation and the estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to amounts for intangible assets, contingent liabilities, residual goodwill and income taxes. The Company has evaluated and continues to evaluate pre-acquisition contingencies relating to the AAG acquisition that existed as of the acquisition date. Based on the evaluation to date, the Company has preliminarily determined that certain pre-acquisition contingencies are probable in nature and estimable as of the acquisition date. Accordingly, the Company has preliminarily recorded its best estimates for these contingencies as part of the preliminary valuation of the assets acquired and liabilities assumed in the acquisition of AAG. The Company continues to gather information relating to all pre-acquisition contingencies that it has assumed from the acquisition of AAG. Any changes to the pre-acquisition contingency amounts recorded during the measurement period will be included in the final valuation and related amounts recognized. Subsequent to the end of the measurement period any adjustments to pre-acquisition contingency amounts will be reflected in the Company's results of operations.
The preliminary fair values recorded for the assets acquired and liabilities assumed for AAG are as follows:
Preliminary Valuation Adjustments The Company performed a preliminary valuation of the acquired inventories, property, plant and equipment, trade names, customer relationships, licensing agreements and proprietary technology at May 21, 2015. A summary of the significant inputs to the valuation is as follows:
Supplemental Pro Formal Information (Unaudited) The following reflects the Company’s pro forma results had the results of AAG been included for all periods presented.
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Subsequent Events
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Subsequent Events [Abstract] | |
Subsequent Events | 14 SUBSEQUENT EVENTS ASC 855, “Subsequent Events” (“ASC 855”), establishes general standards of accounting and disclosure of events that occur after the balance sheet date but before financial statements are issued or available to be issued. ASC 855 requires the Company to evaluate events that occur after the balance date through the date of the Company’s financial statements are issued, and to determine whether adjustments to or additional disclosures in the financial statements are necessary. The Company has evaluated subsequent events through the date these financial statements were issued.
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Consolidating Financial Statements
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Jun. 28, 2015
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Consolidating Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidating Financial Statements | 15 CONSOLIDATING FINANCIAL STATEMENTS Spectrum Brands Inc. has issued the 6.375% Notes and the 6.625% Notes under and indenture dated November 16, 2012 (the “2020/22 Indenture”), the 6.125% Notes under the 2024 Indenture and the 5.75% Notes under the 2025 Indenture (collectively, the “Indentures”). Spectrum Brands, Inc.’s obligations under the Indentures are fully and unconditionally guaranteed on a joint and several basis by the Parent and Spectrum Brands, Inc.’s existing and future domestic subsidiaries (“Guarantor Subsidiaries”). The Guarantor Subsidiaries are 100% owned either directly or indirectly by Spectrum Brands, Inc. and jointly and severally guarantee Spectrum Brands, Inc.’s obligations under the Indentures. Spectrum Brands, Inc.’s subsidiaries organized outside the U.S. (“Nonguarantor Subsidiaries”) do not guarantee the Indentures. There are no significant restrictions on the ability of Spectrum Brands, Inc. or any Guarantor Subsidiaries to obtain funds from its subsidiaries by dividend or loan or any other matters. See Note 6, “Debt,” for further information on the 6.375% Notes and the 6.625% Notes under the 2020/22 Indenture, the 6.125% Notes under the 2024 Indenture and the 5.75% Notes under the 2025 Indenture. The following consolidating financial statements illustrate the components of the consolidated financial statements of Spectrum Brands, Inc. A separate column for the Parent’s financial statement information is not presented as the Parent has no independent assets or operations and management has determined that such presentation would not be material. Investments in subsidiaries are accounted for using the equity method for purposes of illustrating the consolidating presentation. Earnings of subsidiaries are therefore reflected in Spectrum Brands, Inc. and Guarantor Subsidiaries investment accounts and earnings. The elimination entries presented herein eliminate investments in subsidiaries and intercompany balances and transactions.
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Financial Position June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Financial Position September 30, 2014 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Operations Three Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Comprehensive Income Three Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Operations Three Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Comprehensive Income Three Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Operations Nine Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Comprehensive Income Nine Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Operations Nine Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Comprehensive Income Nine Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows Nine Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows Nine Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
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Jun. 28, 2015
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Basis Of Presentation | Basis of Presentation: The condensed consolidated financial statements include the accounts of SB/RH and its subsidiaries and are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). All intercompany transactions have been eliminated. These condensed consolidated financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include all adjustments (which are normal and recurring in nature) necessary to present fairly the financial position of the Company at June 28, 2015, the results of operations for the three and nine month periods ended June 28, 2015 and June 29, 2014, the comprehensive income (loss) for the three and nine month periods ended June 28, 2015 and June 29, 2014 and the cash flows for the nine month periods ended June 28, 2015 and June 29, 2014. Certain information and note disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2014.
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Use Of Estimates | Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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Intangible Assets | Intangible Assets: Intangible assets are recorded at cost or at fair value if acquired in a purchase business combination. Customer relationships and proprietary technology intangibles are amortized, using the straight-line method, over their estimated useful lives. Excess of cost over fair value of net assets acquired (goodwill) and indefinite lived trade name intangibles are not amortized. GAAP requires that goodwill and indefinite-lived intangible assets be tested for impairment annually or more often if an event or circumstance indicates that an impairment loss may have been incurred. Goodwill is tested for impairment at the reporting unit level, with such groupings being consistent with the Company’s reportable segments. If impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. Indefinite lived trade name intangibles are tested for impairment at least annually by comparing the fair value with the carrying value. Any excess of carrying value over fair value is recognized as an impairment loss in income from operations. The Company’s annual impairment testing is completed at the August financial period end. Management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as unexpected adverse business conditions, economic factors, unanticipated technological change or competitive activities, loss of key personnel, and acts by governments and courts may signal that an asset has become impaired.
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Shipping And Handling Costs | Shipping and Handling Costs: The Company incurred shipping and handling costs of $68.3 and $199.1 for the three and nine month periods ended June 28, 2015, respectively, and $66.2 and $194.5 for the three and nine months periods ended June 29, 2014, respectively. These costs are included in Selling expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited). Shipping and handling costs include costs incurred with third-party carriers to transport products to customers as well as salaries and overhead costs related to activities to prepare the Company’s products for shipment from its distribution facilities.
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Concentration Of Credit Risk | Concentrations of Credit Risk: Trade receivables subject the Company to credit risk. Trade accounts receivable are carried at net realizable value. The Company extends credit to its customers based upon an evaluation of the customer’s financial condition and credit history, and generally does not require collateral. The Company monitors its customers’ credit and financial condition based on changing economic conditions and makes adjustments to credit policies as required. Provisions for losses on uncollectible trade receivables are determined based on ongoing evaluations of the Company’s receivables, principally on the basis of historical collection experience and evaluations of the risks of nonpayment for a given customer. The Company has a broad range of customers including many large retail outlet chains, one of which accounts for a significant percentage of its sales volume. This customer represented approximately 15% of the Company’s Net sales during both the three and nine month periods ended June 28, 2015, and 15% and 16% of the Company’s Net sales for the three and nine month periods ended June 29, 2014, respectively. This customer also represented approximately 13% and 14% of the Company’s Trade accounts receivable, net at June 28, 2015 and September 30, 2014, respectively. Approximately 33% and 39% of the Company’s Net sales during the three and nine month periods ended June 28, 2015, respectively, and 37% and 41% of the Company’s Net sales during the three and nine month periods ended June 29, 2014, respectively, occurred outside the U.S. These sales and related receivables are subject to varying degrees of credit, currency, political and economic risk. The Company monitors these risks and makes appropriate provisions for ability to collect based on an assessment of the risks present.
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Stock Compensation | Stock-Based Compensation: Our stock compensation programs are administered by SB Holdings. The Company measures the cost of its stock-based compensation plans based on the fair value of its employee stock awards and recognizes these costs over the requisite service period of the awards. Total stock compensation expense associated with restricted stock units recognized by the Company during the three and nine month periods ended June 28, 2015 was $15.2 and $32.2, respectively. Total stock compensation expense associated with restricted stock units recognized by the Company during the three and nine month periods ended June 29, 2014 was $9.2 and $26.0, respectively. The remaining unrecognized pre-tax compensation cost related to restricted stock units at June 28, 2015 was $32.0. The Company granted approximately 0.02 million and 0.43 million restricted stock units during the three and nine month periods ended June 28, 2015, respectively. The 0.43 million restricted stock units granted during the nine months ended June 28, 2015 include 0.13 million restricted stock units that vested immediately and 0.02 million time-based restricted stock units that vest over a period ranging from one to two years. The remaining 0.28 million restricted stock units are performance and time-based and vest over a period ranging from one to two years. The total market value of the restricted stock units on the dates of the grants was approximately $39.3. The Company granted approximately no and 0.41 million restricted stock units during the three and nine month periods ended June 29, 2014, respectively. The 0.41 million restricted stock units granted during the nine months ended June 29, 2014 include 0.08 million time-based restricted stock units that vested immediately and .04 million time-based restricted stock units that vest over a one year period. The remaining 0.29 million restricted stock units are performance and time-based and vest over a two year period. The total market value of the restricted stock units on the dates of the grants was approximately $28.7. The fair value of restricted stock units is determined based on the market price of SB Holdings’ shares of common stock on the grant date. A summary of the activity in the Company’s non-vested restricted stock units during the nine months ended June 28, 2015 is as follows:
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Acquisition And Integration Related Charges | Acquisition and Integration Related Charges: Acquisition and integration related charges reflected in Operating expenses in the accompanying Condensed Consolidated Statements of Operations (Unaudited) include, but are not limited to, transaction costs such as banking, legal, accounting and other professional fees directly related to acquisitions, termination and related costs for transitional and certain other employees, integration related professional fees and other post business combination expenses associated with mergers and acquisitions. The following table summarizes acquisition and integration related charges incurred by the Company during the three and nine month periods ended June 28, 2015 and June 29, 2014:
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Jun. 28, 2015
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Inventories [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories At Lower Of Cost Or Market |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Goodwill And Intangible Assets (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Goodwill And Intangible Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets |
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Intangible Assets Subject To Amortization |
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Amortization Expense |
|
X | ||||||||||
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets broken down by class of intangible asset. No definition available.
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Debt (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Debt [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt |
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Derivative Financial Instruments (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Interest Rate Swap Derivatives |
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Outstanding Derivative Contracts Recorded As Assets And Liabilities | The fair value of the Company’s outstanding derivative contracts recorded as assets in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) are as follows:
The fair value of the Company’s outstanding derivative contracts recorded as liabilities in the accompanying Condensed Consolidated Statements of Financial Position (Unaudited) are as follows:
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Impact Of Derivative Instruments On Condensed Consolidated Statement Of Operations | The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the three month period ended June 28, 2015, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the nine month period ended June 28, 2015, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the three month period ended June 29, 2014, pretax:
The following table summarizes the impact of derivative instruments on the accompanying Condensed Consolidated Statement of Operations (Unaudited) for the nine month period ended June 29, 2014, pretax:
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Gains (Losses) Recognized In Earnings | During the three month periods ended June 28, 2015 and June 29, 2014, the Company recognized the following gains (losses) on these derivative contracts:
During the nine month periods ended June 28, 2015 and June 29, 2014, the Company recognized the following gains (losses) on these derivative contracts:
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Fair Value Of Financial Instruments (Tables)
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Jun. 28, 2015
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Fair Value Of Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Of Net Derivative Portfolio |
The Company’s net derivative portfolio as of June 28, 2015, contains Level 2 instruments and consists of commodity, interest rate and foreign exchange contracts. The fair values of these instruments as of June 28, 2015 were as follows asset/(liability):
The Company’s net derivative portfolio as of September 30, 2014, contains Level 2 instruments and consists of commodity and foreign exchange contracts. The fair values of these instruments as of September 30, 2014 were as follows:
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Carrying Amounts And Fair Values Of Financial Instruments |
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Employee Benefit Plans (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Employee Benefit Plans [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Net Periodic (Benefit) Cost |
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Pension And Deferred Compensation Contributions |
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X | ||||||||||
- Definition
Schedule of the amount of cash or cash equivalents contributed by the entity to fund its pension plans. No definition available.
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Segment Results (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Segment Results [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment |
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Segment Total Assets |
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Restructuring And Related Charges (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Restructuring and Related Cost [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Charges Incurred, By Segment |
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Global Expense Rationalization Initiatives [Member]
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Restructuring and Related Cost [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Charges Incurred, By Segment |
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Restructuring Reserve Accrual |
______________________________ Consists of amounts not impacting the accrual for restructuring and related charges.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Acquisitions (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preliminary Fair Values Recorded For Assets Acquired And Liabilities Assumed |
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Tell Manufacturing, Inc. [Member]
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preliminary Fair Values Recorded For Assets Acquired And Liabilities Assumed |
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European IAMS And Eukanuba [Member]
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preliminary Fair Values Recorded For Assets Acquired And Liabilities Assumed |
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Salix Animal Health LLC [Member]
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preliminary Fair Values Recorded For Assets Acquired And Liabilities Assumed |
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Armored Auto Group [Member]
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration Paid |
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Supplemental Pro Forma Information |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Consolidating Financial Statements (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2015
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Consolidating Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement Of Financial Position | SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Financial Position June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Financial Position September 30, 2014 (Unaudited) (Amounts in millions)
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Condensed Consolidating Statement Of Operations |
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Condensed Consolidating Statement Of Comprehensive Income |
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Condensed Consolidating Statement Of Cash Flows | SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows Nine Month Period Ended June 28, 2015 (Unaudited) (Amounts in millions)
SB/RH HOLDINGS, LLC AND SUBSIDIARIES Condensed Consolidating Statement of Cash Flows Nine Month Period Ended June 29, 2014 (Unaudited) (Amounts in millions)
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X | ||||||||||
- Definition
Condensed Consolidating Statement Of Comprehensive Income [Table Text Block] No definition available.
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- Details
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Significant Accounting Policies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
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Jun. 29, 2014
|
Jun. 28, 2015
customer
|
Jun. 29, 2014
|
Jun. 28, 2015
First Significant Customer [Member]
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Jun. 28, 2015
First Significant Customer [Member]
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Sep. 30, 2014
First Significant Customer [Member]
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Jun. 28, 2015
RSUs Immediately Vesting [Member] [Domain]
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Jun. 29, 2014
RSUs Immediately Vesting [Member] [Domain]
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Jun. 29, 2014
Time Based RSUs 1 Year Vesting [Member]
|
Jun. 28, 2015
Time Based RSUs [Member]
|
Jun. 28, 2015
Time Based RSUs [Member]
Minimum [Member]
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Jun. 28, 2015
Time Based RSUs [Member]
Maximum [Member]
|
Jun. 28, 2015
Performance And Time-Based [Member]
|
Jun. 28, 2015
Performance And Time-Based [Member]
Minimum [Member]
|
Jun. 28, 2015
Performance And Time-Based [Member]
Maximum [Member]
|
Jun. 28, 2015
Performance And Time Based 2 Year Vesting [Member]
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Concentration Risk [Line Items] | |||||||||||||||||
Shipping and handling costs | $ 68.3 | $ 66.2 | $ 199.1 | $ 194.5 | |||||||||||||
Number of customers accounting for significant percentage of sales volume | 1 | ||||||||||||||||
Percentage of net sales represented by customer | 15.00% | 16.00% | |||||||||||||||
Percentage of trade accounts receivable represented by customer | 13.00% | 13.00% | 14.00% | ||||||||||||||
Net sales that occurred outside the U.S. | 33.00% | 37.00% | 39.00% | 41.00% | |||||||||||||
Stock compensation expense associated with restricted stock units | 15.2 | 9.2 | 32.2 | 26.0 | |||||||||||||
Unrecognized pre-tax compensation cost | 32.0 | 32.0 | |||||||||||||||
Restricted stock units granted | 0.02 | 0.43 | 0.41 | 0.13 | 0.08 | 0.04 | 0.02 | 0.28 | 0.29 | ||||||||
Value of restricted stock units | $ 39.3 | $ 28.7 | |||||||||||||||
Vesting period | 1 year | 1 year | 2 years | 1 year | 2 years | 2 years |
X | ||||||||||
- Definition
The percentage of accounts receivable outstanding due from a major customer who accounts for more than 10% of the company's revenues. No definition available.
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X | ||||||||||
- Definition
The percentage of revenues from external customers attributed to all foreign countries from which the entity derives revenues. No definition available.
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X | ||||||||||
- Definition
Number of customers accounting for significant percentage of sales volume. No definition available.
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
The grant date fair value of equity-based payment equity instruments, excluding stock or unit options, forfeited during the reporting period. No definition available.
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X | ||||||||||
- Definition
The grant date fair value of nonvested awards on equity-based plans excluding excluding stock or unit options, outstanding as of the end of the reporting period. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
This element represents acquisition and integration related costs incurred to effect a business combination, which have been expensed during the period. Acquisition related costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Integration related costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. No definition available.
|
X | ||||||||||
- Details
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Comprehensive Income (Loss) Statement (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
Sep. 30, 2014
|
|
Other Comprehensive Income (Loss) | $ 9.5 | $ 8.4 | $ (68.6) | $ 5.6 | |
Other Comprehensive Income (Loss) | (12.0) | (1.4) | (8.6) | (1.6) | |
Other Comprehensive Income (Loss) | 0.6 | (0.4) | (2.8) | (0.5) | |
Total Other Comprehensive Income (Loss), net of tax | (3.1) | 7.4 | (74.4) | 4.3 | |
Total ending AOCI | (137.5) | (137.5) | (63.1) | ||
Foreign Currency Translation Adjustments [Member]
|
|||||
Net change after reclassification adjustment | 9.5 | 8.4 | (68.6) | 5.6 | |
Deferred tax effect | |||||
Other Comprehensive Income (Loss) | 9.5 | 8.4 | (68.6) | 5.6 | |
Noncontrolling interest | 0.2 | ||||
Comprehensive income (loss) attributable to controlling interest | 9.5 | 8.4 | (68.6) | 5.4 | |
Cash Flow Hedging [Member]
|
|||||
Gross change before reclassification adjustment | (7.8) | (3.0) | 9.3 | (3.9) | |
Net reclassification adjustment for (gains) losses included in earnings | (8.1) | 1.3 | (19.9) | 2.2 | |
Gross change after reclassification adjustment | (15.9) | (1.7) | (10.6) | (1.7) | |
Deferred tax effect | 3.9 | 0.3 | 2.0 | 0.1 | |
Other Comprehensive Income (Loss) | (12.0) | (1.4) | (8.6) | (1.6) | |
Defined Benefit Pension Plans [Member]
|
|||||
Gross change before reclassification adjustment | (1.1) | 0.2 | 2.6 | (0.4) | |
Gross change after reclassification adjustment | (0.8) | 0.6 | 3.7 | 0.7 | |
Deferred tax effect | 0.2 | (0.2) | (0.9) | (0.2) | |
Other Comprehensive Income (Loss) | (0.6) | 0.4 | 2.8 | 0.5 | |
Cost of Sales [Member] | Defined Benefit Pension Plans [Member]
|
|||||
Net reclassification adjustment for (gains) losses | 0.2 | 0.1 | 0.5 | 0.4 | |
Selling and Marketing Expense [Member] | Defined Benefit Pension Plans [Member]
|
|||||
Net reclassification adjustment for (gains) losses | 0.1 | 0.2 | 0.2 | ||
General and Administrative Expense [Member] | Defined Benefit Pension Plans [Member]
|
|||||
Net reclassification adjustment for (gains) losses | $ 0.1 | $ 0.2 | $ 0.4 | $ 0.5 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Inventories (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
---|---|---|
Inventories [Abstract] | ||
Raw materials | $ 149.7 | $ 104.1 |
Work-in-process | 58.3 | 35.3 |
Finished goods | 695.7 | 485.1 |
Inventory, Net | $ 903.7 | $ 624.5 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Goodwill And Intangible Assets (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
|
May 21, 2015
Minimum [Member]
Technology Assets [Member]
|
May 21, 2015
Maximum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Batteries & Appliances [Member]
Minimum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Batteries & Appliances [Member]
Minimum [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Global Batteries & Appliances [Member]
Maximum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Batteries & Appliances [Member]
Maximum [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Global Batteries & Appliances [Member]
Maximum [Member]
Trade Names [Member]
|
Jun. 28, 2015
Hardware & Home Improvement [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Hardware & Home Improvement [Member]
Minimum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Hardware & Home Improvement [Member]
Minimum [Member]
Trade Names [Member]
|
Jun. 28, 2015
Hardware & Home Improvement [Member]
Maximum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Hardware & Home Improvement [Member]
Maximum [Member]
Trade Names [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Minimum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Minimum [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Minimum [Member]
Trade Names [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Maximum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Maximum [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Global Pet Supplies [Member]
Maximum [Member]
Trade Names [Member]
|
Jun. 28, 2015
Global Auto Care [Member]
Maximum [Member]
Technology Assets [Member]
|
Jun. 28, 2015
Global Auto Care [Member]
Maximum [Member]
Customer Relationships [Member]
|
Jun. 28, 2015
Home And Garden Business [Member]
Customer Relationships [Member]
|
|
Finite-Lived Intangible Assets [Line Items] | ||||||||||||||||||||||
Useful lives of intangible assets | 8 years | 10 years | 9 years | 15 years | 17 years | 20 years | 12 years | 20 years | 8 years | 5 years | 9 years | 8 years | 4 years | 2 years | 3 years | 9 years | 20 years | 13 years | 10 years | 15 years | 20 years | |
Estimated annual amortization expense of intangible assets for the next five fiscal years | $ 90.0 |
X | ||||||||||
- Definition
Amount of amortization expense expected to be recognized annually during each of the next 5 fiscal years following the latest fiscal year for assets, excluding financial assets and goodwill, lacking physical substance with a finite life. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions, as well as valuations under fresh start reporting. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Goodwill And Intangible Assets (Intangible Assets Subject To Amortization) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
---|---|---|
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Total Intangible Assets, net Subject To Amortization | $ 1,026.3 | $ 917.2 |
Technology Assets [Member]
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross balance | 242.6 | 192.2 |
Accumulated amortization | (72.3) | (57.6) |
Total Intangible Assets, net Subject To Amortization | 170.3 | 134.6 |
Trade Names [Member]
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross balance | 171.6 | 171.0 |
Accumulated amortization | (73.2) | (61.0) |
Total Intangible Assets, net Subject To Amortization | 98.4 | 110.0 |
Customer Relationships [Member]
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross balance | 992.0 | 877.2 |
Accumulated amortization | (234.4) | (204.6) |
Total Intangible Assets, net Subject To Amortization | $ 757.6 | $ 672.6 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Goodwill And Intangible Assets (Amortization Expense) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|
Acquired Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 22.3 | $ 20.5 | $ 64.0 | $ 61.2 |
Technology Assets [Member]
|
||||
Acquired Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization expense | 5.3 | 4.7 | 14.7 | 13.9 |
Trade Names [Member]
|
||||
Acquired Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization expense | 4.1 | 4.1 | 12.3 | 12.3 |
Customer Relationships [Member]
|
||||
Acquired Indefinite-lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 12.9 | $ 11.7 | $ 37.0 | $ 35.0 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Debt (Narrative) (Details)
|
9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
USD ($)
|
Jun. 29, 2014
USD ($)
|
Jun. 23, 2015
USD ($)
|
Sep. 30, 2014
USD ($)
|
Jun. 28, 2015
USD Term Loan [Member]
USD ($)
|
Jun. 23, 2015
USD Term Loan [Member]
USD ($)
|
Jun. 28, 2015
CAD Term Loan [Member]
USD ($)
|
Jun. 28, 2015
CAD Term Loan [Member]
CAD
|
Jun. 23, 2015
CAD Term Loan [Member]
CAD
|
Jun. 28, 2015
Euro Term Loan [Member]
USD ($)
|
Jun. 28, 2015
Euro Term Loan [Member]
USD ($)
|
Jun. 28, 2015
Euro Term Loan [Member]
EUR (€)
|
Jun. 23, 2015
Euro Term Loan [Member]
EUR (€)
|
Jun. 28, 2015
Notes 6.375% [Member]
USD ($)
|
Sep. 30, 2014
Notes 6.375% [Member]
USD ($)
|
Jun. 28, 2015
Notes 6.625% Due 2022 [Member]
USD ($)
|
Sep. 30, 2014
Notes 6.625% Due 2022 [Member]
USD ($)
|
Jun. 28, 2015
6.75% Notes [Member]
USD ($)
|
Jun. 23, 2015
6.75% Notes [Member]
USD ($)
|
Sep. 30, 2014
6.75% Notes [Member]
USD ($)
|
Jun. 28, 2015
6.125% Notes [Member]
USD ($)
|
Dec. 04, 2015
6.125% Notes [Member]
USD ($)
|
Jun. 28, 2015
Notes 5.75% Due July 15, 2025 [Member]
USD ($)
|
May 20, 2015
Notes 5.75% Due July 15, 2025 [Member]
USD ($)
|
Jun. 28, 2015
Revolving Credit Facility [Member]
USD ($)
|
Jun. 28, 2015
SB/RH [Member]
USD ($)
|
Jun. 29, 2014
SB/RH [Member]
USD ($)
|
Sep. 30, 2014
SB/RH [Member]
USD ($)
|
Sep. 30, 2014
Due September 4, 2017 [Member]
USD Term Loan [Member]
USD ($)
|
Sep. 30, 2014
Due September 4, 2019 [Member]
USD Term Loan [Member]
USD ($)
|
Sep. 30, 2014
Due September 4, 2019 [Member]
Euro Term Loan [Member]
USD ($)
|
Sep. 30, 2014
Due December 17, 2019 [Member]
USD ($)
|
Jun. 28, 2015
Due June 23, 2022 [Member]
USD Term Loan [Member]
USD ($)
|
Jun. 28, 2015
Due June 23, 2022 [Member]
CAD Term Loan [Member]
USD ($)
|
Jun. 28, 2015
Due June 23, 2022 [Member]
Euro Term Loan [Member]
USD ($)
|
Jun. 28, 2015
Base Option Rate [Member]
USD Term Loan [Member]
|
Jun. 28, 2015
Base Option Rate [Member]
Revolving Credit Facility [Member]
|
|
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||||||
Senior Notes | $ 1,450,000,000 | $ 1,450,000,000 | $ 60,900,000 | 75,000,000 | $ 336,200,000 | $ 336,200,000 | € 300,000,000 | $ 648,400,000 | $ 509,900,000 | $ 283,300,000 | $ 34,200,000 | $ 1,450,000,000 | $ 60,900,000 | $ 336,200,000 | |||||||||||||||||||||||
Unsecured Debt | 520,000,000 | 520,000,000 | 570,000,000 | 570,000,000 | 300,000,000 | 250,000,000 | 250,000,000 | 1,000,000,000 | 1,000,000,000 | ||||||||||||||||||||||||||||
Interest rate | 2.50% | 6.375% | 6.625% | 6.75% | 6.75% | 6.125% | 6.125% | 5.75% | 5.75% | 2.00% | 2.00% | ||||||||||||||||||||||||||
Revolving credit facility | 500,000,000 | 500,000,000 | |||||||||||||||||||||||||||||||||||
Variable interest rate floor | 0.75% | 0.75% | 0.75% | ||||||||||||||||||||||||||||||||||
Percentage over base rate | 3.00% | 3.50% | 2.75% | 3.00% | |||||||||||||||||||||||||||||||||
Variable interest rate at end of period | 0.99% | ||||||||||||||||||||||||||||||||||||
Percentage of discount on issuance of debt | 0.25% | 1.00% | 0.25% | 0.25% | |||||||||||||||||||||||||||||||||
Discount on debt issued | 3,600,000 | 800,000 | 800,000 | ||||||||||||||||||||||||||||||||||
Debt issuance costs | 37,300,000 | 5,500,000 | 12,400,000 | 600,000 | 2,600,000 | 4,900,000 | 15,200,000 | 4,600,000 | 19,500,000 | 5,700,000 | 37,300,000 | 500,000 | |||||||||||||||||||||||||
Debt price as percentage of par value | 100.00% | ||||||||||||||||||||||||||||||||||||
Percentage of aggregate principal amount of debt that issuer may redeem with cash equal to net proceeds Issuer raises in equity offerings at specified redemption prices | 35.00% | ||||||||||||||||||||||||||||||||||||
Unamortized debt issuance costs | 69,500,000 | 51,100,000 | 4,500,000 | 400,000 | 2,600,000 | 2,600,000 | 69,500,000 | 46,600,000 | |||||||||||||||||||||||||||||
Increase to interest expense | 7,900,000 | 200,000 | 2,300,000 | ||||||||||||||||||||||||||||||||||
Accelerated amortization of unamortized discount and unamortized debt issuance costs | 2,300,000 | 5,100,000 | 400,000 | ||||||||||||||||||||||||||||||||||
Minimum percentage of aggregate outstanding principal amount to declare acceleration of debt in case of default | 25.00% | 25.00% | |||||||||||||||||||||||||||||||||||
Notes called | 300,000,000 | ||||||||||||||||||||||||||||||||||||
Payments for debt satisfaction and discharge process | 1,700,000 | ||||||||||||||||||||||||||||||||||||
Write off of unamortized discount on retired debt | 11,200,000 | 6,400,000 | 4,100,000 | 1,100,000 | |||||||||||||||||||||||||||||||||
Aggregate borrowing availability under ABL facility | 419,300,000 | ||||||||||||||||||||||||||||||||||||
Outstanding letters of credit | $ 33,200,000 |
X | ||||||||||
- Definition
Debt instrument, redemption, amount. No definition available.
|
X | ||||||||||
- Definition
Debt price as percentage of par value. No definition available.
|
X | ||||||||||
- Definition
Minimum percentage of aggregate outstanding principal amount to declare acceleration of debt in case of default. No definition available.
|
X | ||||||||||
- Definition
Payments for debt satisfaction and discharge process. No definition available.
|
X | ||||||||||
- Definition
Percentage of aggregate principal amount of debt that issuer may redeem with cash equal to net proceeds Issuer raises in equity offerings at specified redemption prices. No definition available.
|
X | ||||||||||
- Definition
Percentage of discount on issuance of debt. No definition available.
|
X | ||||||||||
- Definition
The non-cash write-off of unamortized debt issuance costs and original debt issue discount on retired debt. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Debt (Debt) (Details)
|
Jun. 28, 2015
USD ($)
|
Sep. 30, 2014
USD ($)
|
Jun. 28, 2015
SB/RH [Member]
USD ($)
|
Sep. 30, 2014
SB/RH [Member]
USD ($)
|
Sep. 30, 2014
Due December 17, 2019 [Member]
USD ($)
|
Jun. 28, 2015
USD Term Loan [Member]
USD ($)
|
Jun. 23, 2015
USD Term Loan [Member]
USD ($)
|
Sep. 30, 2014
USD Term Loan [Member]
Due September 4, 2017 [Member]
USD ($)
|
Sep. 30, 2014
USD Term Loan [Member]
Due September 4, 2019 [Member]
USD ($)
|
Jun. 28, 2015
USD Term Loan [Member]
Due June 23, 2022 [Member]
USD ($)
|
Jun. 28, 2015
CAD Term Loan [Member]
USD ($)
|
Jun. 23, 2015
CAD Term Loan [Member]
CAD
|
Jun. 28, 2015
CAD Term Loan [Member]
Due June 23, 2022 [Member]
USD ($)
|
Jun. 28, 2015
Euro Term Loan [Member]
USD ($)
|
Jun. 23, 2015
Euro Term Loan [Member]
EUR (€)
|
Sep. 30, 2014
Euro Term Loan [Member]
Due September 4, 2019 [Member]
USD ($)
|
Jun. 28, 2015
Euro Term Loan [Member]
Due June 23, 2022 [Member]
USD ($)
|
Jun. 28, 2015
Notes 6.375% [Member]
USD ($)
|
Sep. 30, 2014
Notes 6.375% [Member]
USD ($)
|
Jun. 28, 2015
Notes 6.625% Due 2022 [Member]
USD ($)
|
Sep. 30, 2014
Notes 6.625% Due 2022 [Member]
USD ($)
|
Jun. 28, 2015
6.75% Notes [Member]
|
Jun. 23, 2015
6.75% Notes [Member]
|
Sep. 30, 2014
6.75% Notes [Member]
USD ($)
|
Dec. 04, 2015
6.125% Notes [Member]
USD ($)
|
Jun. 28, 2015
6.125% Notes [Member]
USD ($)
|
Jun. 28, 2015
Notes 5.75% Due July 15, 2025 [Member]
USD ($)
|
May 20, 2015
Notes 5.75% Due July 15, 2025 [Member]
USD ($)
|
Jun. 28, 2015
Revolving Credit Facility [Member]
USD ($)
|
Jun. 28, 2015
Other Notes And Obligations [Member]
USD ($)
|
Sep. 30, 2014
Other Notes And Obligations [Member]
USD ($)
|
Jun. 28, 2015
Capital Lease Obligations [Member]
USD ($)
|
Sep. 30, 2014
Capital Lease Obligations [Member]
USD ($)
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||||
Term Loan | $ 34,200,000 | $ 1,450,000,000 | $ 1,450,000,000 | $ 648,400,000 | $ 509,900,000 | $ 1,450,000,000 | $ 60,900,000 | 75,000,000 | $ 60,900,000 | $ 336,200,000 | € 300,000,000 | $ 283,300,000 | $ 336,200,000 | ||||||||||||||||||||
Notes | 520,000,000 | 520,000,000 | 570,000,000 | 570,000,000 | 300,000,000 | 250,000,000 | 250,000,000 | 1,000,000,000 | 1,000,000,000 | ||||||||||||||||||||||||
Credit Facility | 47,500,000 | ||||||||||||||||||||||||||||||||
Other notes and obligations | 79,000,000 | 52,400,000 | |||||||||||||||||||||||||||||||
Capitalized lease obligations | 88,700,000 | 94,700,000 | |||||||||||||||||||||||||||||||
Interest Rate | 5.10% | 3.00% | 3.60% | 3.80% | 4.50% | 3.80% | 3.50% | 6.40% | 6.40% | 6.60% | 6.60% | 6.80% | 6.10% | 5.80% | 5.30% | 8.50% | 6.70% | 5.90% | 6.10% | ||||||||||||||
Debt and Capital Lease Obligations, Total | 4,402,300,000 | 3,012,900,000 | |||||||||||||||||||||||||||||||
Original issuance discounts on debt | (8,500,000) | (6,200,000) | |||||||||||||||||||||||||||||||
Less: current maturities | (99,500,000) | (112,600,000) | (65,700,000) | (75,200,000) | |||||||||||||||||||||||||||||
Long-term debt | $ 4,294,300,000 | $ 2,894,100,000 | $ 4,270,500,000 | $ 2,539,200,000 | |||||||||||||||||||||||||||||
Interest rate | 2.50% | 6.375% | 6.625% | 6.75% | 6.75% | 6.125% | 6.125% | 5.75% | 5.75% |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Derivative Financial Instruments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | 9 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
|
Sep. 30, 2014
|
Jun. 28, 2015
Foreign Exchange Contract [Member]
|
Jun. 28, 2015
Cash Flow Hedging [Member]
|
Jun. 28, 2015
Cash Flow Hedging [Member]
Foreign Exchange Contract [Member]
|
Jun. 28, 2015
Cash Flow Hedging [Member]
Commodity Contract [Member]
|
Jun. 28, 2015
Cash Flow Hedging [Member]
Interest Rate Swap [Member]
|
Jun. 28, 2015
Fair Value Hedging [Member]
|
Sep. 30, 2014
Fair Value Hedging [Member]
|
Jun. 28, 2015
Zinc [Member]
Cash Flow Hedging [Member]
Commodity Contract [Member]
T
|
Jun. 28, 2015
Brass [Member]
Cash Flow Hedging [Member]
Commodity Contract [Member]
T
|
Jun. 28, 2015
Silver, Ounces
Fair Value Hedging [Member]
ozt
|
Sep. 30, 2014
Silver, Ounces
Fair Value Hedging [Member]
ozt
|
|
Derivative [Line Items] | |||||||||||||
Effective fixed interest rate on floating rate debt | 1.36% | ||||||||||||
Contract value of derivative contracts | $ 300.0 | $ 300.0 | $ 293.0 | $ 300.0 | $ 139.0 | $ 108.9 | $ 17.0 | $ 8.1 | $ 0.2 | $ 0.4 | |||
Derivative net loss recorded in AOCI | 1.8 | ||||||||||||
Tax expense (benefit) from net loss on derviative contracts | 0 | ||||||||||||
Derivative net loss estimated to be reclassified from AOCI into earnings from interest rate contracts | 1.4 | ||||||||||||
Derivative net loss estimated to be reclassified from AOCI into earnings from foreign currency contracts | 4.2 | 1.3 | |||||||||||
Accumulated other comprehensive loss | (137.5) | (63.1) | 3.0 | 1.4 | |||||||||
Accumulated other comprehensive income, tax effect | 1.0 | 0.2 | |||||||||||
Nonmonetary quantity of notional amount | 7,800 | 1,700 | 10,000 | 25,000 | |||||||||
Outstanding letters of credit | $ 33.2 |
X | ||||||||||
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect included within the net accumulated other comprehensive income balance on the statement of financial position. No definition available.
|
X | ||||||||||
- Definition
Derivative, effective fixed interest rate on floating rate debt. No definition available.
|
X | ||||||||||
- Definition
Derivative nonmonetary quantity notional amount. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Derivative Financial Instruments (Schedule Of Interest Rate Swap Derivatives) (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | 12 Months Ended |
---|---|---|
Jun. 28, 2015
|
Sep. 30, 2014
|
|
Derivative [Line Items] | ||
Notional Amount | $ 300.0 | $ 300.0 |
Remaining Years | 1 year 9 months 18 days | 2 years 6 months |
X | ||||||||||
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Derivative Financial Instruments (Outstanding Derivative Contracts Recorded As Assets In Condensed Consolidated Statements Of Financial Position) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 6.2 | $ 14.7 |
Liability Derivatives | 4.8 | 2.1 |
Designated as Hedging Instrument [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 6.2 | 14.2 |
Liability Derivatives | 4.6 | 1.9 |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Receivables—Other [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 1.3 | |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Other Long-Term Liabilities [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0.1 | |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Accounts Payable [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 1.5 | 0.2 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Receivables—Other [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 5.9 | 12.0 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.3 | |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Deferred Charges and Other Current Assets [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.3 | |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accounts Payable [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0.4 | |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Deferred Charges and Other Current Assets [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.6 | |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Current Liabilities [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 1.4 | 1.3 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Accrued Interest [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0.4 | 0.4 |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Accounts Payable [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0.1 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Receivables—Other [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 0.5 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accounts Payable [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 0.2 | 0.1 |
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Long-Term Liabilities [Member]
|
||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 0.4 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Derivative Financial Instruments (Gains (Losses) Recognized In Earnings) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivatives: Foreign exchange contracts | $ 5.0 | $ (0.2) | ||
Commodity Contract [Member] | Cost of Goods Sold [Member]
|
||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivatives: Foreign exchange contracts | 0.1 | |||
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other Expense [Member]
|
||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized in Income on Derivatives: Foreign exchange contracts | $ 5.0 | $ (0.3) | $ (2.4) | $ 0.4 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Fair Value Of Financial Instruments (Carrying Amounts And Fair Values Of The Company's Financial Instruments) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Amount | $ (4,393.8) | $ (3,006.7) |
Fair Value | (4,522.4) | (3,077.3) |
Interest Rate Contract [Member]
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Amount | (2.2) | (1.1) |
Fair Value | (2.2) | (1.1) |
Commodity Contract [Member]
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Amount | (1.6) | 1.0 |
Fair Value | (1.6) | 1.0 |
Foreign Exchange Contract [Member]
|
||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Carrying Amount | 5.2 | 12.7 |
Fair Value | $ 5.2 | $ 12.7 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Employee Benefit Plans (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|
Employee Benefit Plans [Abstract] | ||||
Company contributions charged to operations, including discretionary amounts | $ 2.6 | $ 3.4 | $ 8.6 | $ 10.7 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Employee Benefit Plans (Components Of Net Periodic Pension Benefits And Deferred Compensation Cost) (Details) (Defined Benefit Pension Plans [Member], USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|
Defined Benefit Pension Plans [Member]
|
||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | $ 0.8 | $ 0.9 | $ 2.4 | $ 2.6 |
Interest cost | 2.4 | 2.6 | 7.3 | 7.8 |
Expected return on assets | (2.4) | (2.5) | (7.5) | (7.4) |
Recognized net actuarial (gain) loss | 0.3 | 0.4 | 1.1 | 1.1 |
Net periodic benefit cost (benefit) | $ 1.1 | $ 1.4 | $ 3.3 | $ 4.1 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Employee Benefit Plans (Pension And Deferred Compensation Contributions) (Details) (Defined Benefit Pension Plans [Member], USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|
Defined Benefit Pension Plans [Member]
|
||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Employer contributions | $ 2.0 | $ 3.7 | $ 7.5 | $ 9.1 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Income Taxes (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | |
---|---|---|---|
Jun. 28, 2015
|
Jun. 28, 2015
|
Sep. 30, 2014
|
|
Income Taxes [Abstract] | |||
Effective tax rate | (104.00%) | 4.00% | |
U.S. federal statutory rate | 35.00% | ||
Unrecognized tax benefits related to uncertain tax positions | $ 15.7 | $ 15.7 | $ 11.3 |
Accrued interest and penalties related to uncertain tax positions | $ 4.1 | $ 4.1 | $ 3.5 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Corporate expense. No definition available.
|
X | ||||||||||
- Definition
The net result after deducting operating expenses from operating revenues, excluding charges related to business acquisition, integration and restructuring and related activities. No definition available.
|
X | ||||||||||
- Definition
Restructuring charges included in cost of goods sold and operating expenses. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Segment Results (Segment Total Assets) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
---|---|---|
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | $ 7,473.8 | $ 5,511.3 |
Global Batteries & Appliances [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 2,093.7 | 2,152.0 |
Hardware & Home Improvement [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,708.9 | 1,629.0 |
Global Pet Supplies [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,156.4 | 890.4 |
Global Auto Care [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 1,658.4 | |
Home And Garden Business [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 594.8 | 526.6 |
Operating Segments [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | 7,212.2 | 5,198.0 |
Corporate [Member]
|
||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total assets | $ 261.6 | $ 313.3 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Restructuring and related charges included in gross profit. No definition available.
|
X | ||||||||||
- Definition
Restructuring charges included in cost of goods sold and operating expenses. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Restructuring And Related Charges (Restructuring Reserve Accrual) (Details) (Global Expense Rationalization Initiatives [Member], USD $)
In Millions, unless otherwise specified |
9 Months Ended | |||
---|---|---|---|---|
Jun. 28, 2015
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrual balance at beginning of period | $ 5.5 | |||
Provisions | 6.6 | |||
Cash expenditures | (7.0) | |||
Non-cash items | (0.3) | |||
Accrual balance at end of period | 4.8 | |||
Expensed as incurred | 7.3 | [1] | ||
Termination Benefits [Member]
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrual balance at beginning of period | 4.1 | |||
Provisions | 4.7 | |||
Cash expenditures | (5.9) | |||
Non-cash items | (0.3) | |||
Accrual balance at end of period | 2.6 | |||
Expensed as incurred | 2.6 | [1] | ||
Other Restructuring [Member]
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Accrual balance at beginning of period | 1.4 | |||
Provisions | 1.9 | |||
Cash expenditures | (1.1) | |||
Accrual balance at end of period | 2.2 | |||
Expensed as incurred | $ 4.7 | [1] | ||
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Acquisitions (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
0 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct. 01, 2014
|
Jun. 28, 2015
|
Oct. 01, 2014
|
Sep. 30, 2014
|
Oct. 01, 2014
Tell Manufacturing, Inc. [Member]
|
Jun. 28, 2015
Tell Manufacturing, Inc. [Member]
Minimum [Member]
|
Jun. 28, 2015
Tell Manufacturing, Inc. [Member]
Maximum [Member]
|
Dec. 31, 2014
European IAMS And Eukanuba [Member]
|
Jan. 16, 2015
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Salix Animal Health LLC [Member]
|
Jun. 28, 2015
Armored Auto Group [Member]
|
Jun. 30, 2015
Armored Auto Group [Member]
|
May 21, 2015
Armored Auto Group [Member]
|
May 21, 2015
Armored Auto Group [Member]
Minimum [Member]
|
May 21, 2015
Armored Auto Group [Member]
Maximum [Member]
|
May 21, 2015
Technology Assets [Member]
|
May 21, 2015
Technology Assets [Member]
Minimum [Member]
|
May 21, 2015
Technology Assets [Member]
Maximum [Member]
|
Jan. 16, 2015
Technology Assets [Member]
European IAMS And Eukanuba [Member]
|
Dec. 31, 2014
Technology Assets [Member]
European IAMS And Eukanuba [Member]
|
Jan. 16, 2015
Technology Assets [Member]
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Technology Assets [Member]
Salix Animal Health LLC [Member]
|
Oct. 01, 2014
Trade Names [Member]
Tell Manufacturing, Inc. [Member]
|
Dec. 31, 2014
Trade Names [Member]
European IAMS And Eukanuba [Member]
|
Jan. 16, 2015
Trade Names [Member]
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Trade Names [Member]
Salix Animal Health LLC [Member]
|
Jun. 28, 2015
Trade Names [Member]
Armored Auto Group [Member]
|
May 21, 2015
Trade Names [Member]
Armored Auto Group [Member]
|
Oct. 01, 2014
Customer Relationships [Member]
Tell Manufacturing, Inc. [Member]
|
Dec. 31, 2014
Customer Relationships [Member]
European IAMS And Eukanuba [Member]
|
Dec. 31, 2014
Customer Relationships [Member]
European IAMS And Eukanuba [Member]
Minimum [Member]
|
Dec. 31, 2014
Customer Relationships [Member]
European IAMS And Eukanuba [Member]
Maximum [Member]
|
Jan. 16, 2015
Customer Relationships [Member]
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Customer Relationships [Member]
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Customer Relationships [Member]
Salix Animal Health LLC [Member]
Minimum [Member]
|
Jan. 16, 2015
Customer Relationships [Member]
Salix Animal Health LLC [Member]
Maximum [Member]
|
May 21, 2015
Customer Relationships [Member]
Armored Auto Group [Member]
|
May 21, 2015
Customer Relationships [Member]
Armored Auto Group [Member]
|
May 21, 2015
Customer Relationships [Member]
Armored Auto Group [Member]
Minimum [Member]
|
May 21, 2015
Customer Relationships [Member]
Armored Auto Group [Member]
Maximum [Member]
|
Jan. 16, 2015
Noncompete Agreements [Member]
Salix Animal Health LLC [Member]
|
Jan. 16, 2015
Noncompete Agreements [Member]
Salix Animal Health LLC [Member]
|
|
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||
Preliminary value of consideration | $ 30.3 | $ 115.7 | $ 148.3 | $ 931.4 | ||||||||||||||||||||||||||||||||||||||
Percentage of property, plant and equipment estimated fair value measured by cost approach | 97.00% | 98.00% | ||||||||||||||||||||||||||||||||||||||||
Percentage of property, plant and equipment fair value estimated by sales comparison approach | 3.00% | 2.00% | ||||||||||||||||||||||||||||||||||||||||
Indefinite-lived asset acquired | 4.0 | 26.7 | 20.0 | |||||||||||||||||||||||||||||||||||||||
Expected sales growth rate | 2.50% | 7.10% | 0.50% | 13.20% | 0.00% | 12.10% | 2.00% | 12.10% | ||||||||||||||||||||||||||||||||||
Customer retention rate | 90.00% | 90.00% | 100.00% | 92.50% | 95.00% | |||||||||||||||||||||||||||||||||||||
Estimated income tax rate | 38.00% | 25.00% | 38.00% | 38.00% | ||||||||||||||||||||||||||||||||||||||
Discount rate | 20.00% | 15.00% | 16.00% | 12.00% | 13.00% | 9.50% | ||||||||||||||||||||||||||||||||||||
Customer relationships | 8.5 | 10.2 | 34.0 | 66.0 | ||||||||||||||||||||||||||||||||||||||
Useful lives of intangible assets | 8 years | 10 years | 8 years | 10 years | 8 years | 17 years | 13 years | 13 years | 2 years | 15 years | 13 years | 15 years | 3 years | |||||||||||||||||||||||||||||
Technology assets | 45.0 | 3.6 | 2.1 | |||||||||||||||||||||||||||||||||||||||
Definite-lived trade names | 1.0 | |||||||||||||||||||||||||||||||||||||||||
Non-compete agreement | 1.4 | |||||||||||||||||||||||||||||||||||||||||
Indefinite-lived trade names | 1,501.8 | 1,174.3 | 299.0 | |||||||||||||||||||||||||||||||||||||||
Licensing agreements | 19.0 | |||||||||||||||||||||||||||||||||||||||||
Non-recurring debt extinguishment expense | 35.7 | |||||||||||||||||||||||||||||||||||||||||
Acquisition related costs | 25.2 | |||||||||||||||||||||||||||||||||||||||||
Non-recurring trade name impairment | $ 7.0 |
X | ||||||||||
- Definition
The total purchase price negotiated with the seller for a business acquisition including adjustments to working capital adjustments. No definition available.
|
X | ||||||||||
- Definition
Fair value inputs, customer retention rate. No definition available.
|
X | ||||||||||
- Definition
Fair value inputs, estimated income tax rate. No definition available.
|
X | ||||||||||
- Definition
Percentage of property, plant and equipment estimated fair value measured by cost approach. No definition available.
|
X | ||||||||||
- Definition
Percentage of property, plant and equipment fair value estimated by sales comparison approach.. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Acquisitions (Assets Acquired And Liabilities Assumed) (Details) (USD $)
In Millions, unless otherwise specified |
Oct. 01, 2015
Tell Manufacturing, Inc. [Member]
|
Dec. 31, 2014
European IAMS And Eukanuba [Member]
|
Jan. 16, 2015
Salix Animal Health LLC [Member]
|
May 21, 2015
Armored Auto Group [Member]
|
---|---|---|---|---|
Business Acquisition [Line Items] | ||||
Cash | $ 1.1 | $ 0.5 | $ 30.9 | |
Accounts receivable | 5.4 | 9.9 | 156.1 | |
Inventories | 7.2 | 15.1 | 17.0 | 84.5 |
Prepaid expense | 0.6 | 1.3 | 2.4 | 3.2 |
Other current assets | 2.6 | 6.4 | ||
Property, plant and equipment, net | 1.5 | 58.3 | 1.2 | 42.2 |
Intangible assets | 12.5 | 40.5 | 58.5 | 429.0 |
Other non-current assets | 16.4 | |||
Total assets acquired | 28.3 | 117.8 | 89.5 | 768.7 |
Total liabilities assumed | 5.1 | 5.6 | 11.3 | 803.0 |
Total identifiable net assets less goodwill | 23.2 | 112.2 | 78.2 | (34.3) |
Goodwill | 7.1 | 3.5 | 70.1 | 965.7 |
Total identifiable net assets | $ 30.3 | $ 115.7 | $ 148.3 | $ 931.4 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Acquisitions (Consideration Paid) (Details) (Armored Auto Group [Member], USD $)
In Millions, unless otherwise specified |
May 21, 2015
|
---|---|
Armored Auto Group [Member]
|
|
Business Acquisition [Line Items] | |
Negotiated purchase price | $ 1,400.0 |
Preliminary working capital and other adjustments | 71.4 |
Indebtedness acquired | (540.0) |
Preliminary purchase price | $ 931.4 |
X | ||||||||||
- Definition
Business acquisition, indebtedness acquired. No definition available.
|
X | ||||||||||
- Definition
The total purchase price negotiated with the seller for a business acquisition, subject to working capital adjustments. No definition available.
|
X | ||||||||||
- Definition
The total purchase price negotiated with the seller for a business acquisition including adjustments to working capital adjustments. No definition available.
|
X | ||||||||||
- Definition
Adjustments to the negotiated purchase price for an acquired business based on working capital and other changes from the date the purchase price was negotiated to the closing date of the transaction. No definition available.
|
X | ||||||||||
- Details
|
Acquisitions (Supplemental Pro Forma Information) (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
|
Jun. 29, 2014
|
|||||||
Business Acquisition [Line Items] | ||||||||||
Net sales | $ 1,247.5 | $ 1,128.5 | $ 3,382.3 | $ 3,250.8 | ||||||
Net income | 46.6 | 78.6 | 127.2 | 168.5 | ||||||
Armored Auto Group [Member]
|
||||||||||
Business Acquisition [Line Items] | ||||||||||
Pro forma Net Sales | 1,335.6 | 1,285.6 | 3,658.2 | 3,558.6 | ||||||
Pro forma Net income | 51.0 | 83.5 | 119.8 | 165.5 | ||||||
Armored Auto Group [Member] | Reported [Member]
|
||||||||||
Business Acquisition [Line Items] | ||||||||||
Net sales | 1,247.5 | 1,128.5 | 3,382.3 | 3,250.8 | ||||||
Net income | 46.6 | 78.6 | 127.2 | 168.5 | ||||||
Armored Auto Group [Member] | AAG Adjustment [Member]
|
||||||||||
Business Acquisition [Line Items] | ||||||||||
Net sales | 88.1 | 157.1 | 275.9 | 307.8 | ||||||
Net income | $ 4.4 | [1] | $ 4.9 | [1] | $ (7.4) | [1] | $ (3.0) | [1] | ||
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Consolidating Financial Statements (Condensed Consolidating Statement Of Financial Position) (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 28, 2015
|
Sep. 30, 2014
|
Jun. 29, 2014
|
Sep. 30, 2013
|
Jun. 28, 2015
SB/RH [Member]
|
Sep. 30, 2014
SB/RH [Member]
|
Jun. 29, 2014
SB/RH [Member]
|
Sep. 30, 2013
SB/RH [Member]
|
Jun. 28, 2015
Guarantor Subsidiaries [Member]
|
Sep. 30, 2014
Guarantor Subsidiaries [Member]
|
Jun. 29, 2014
Guarantor Subsidiaries [Member]
|
Sep. 30, 2013
Guarantor Subsidiaries [Member]
|
Jun. 28, 2015
Non-Guarantor Subsidiaries [Member]
|
Sep. 30, 2014
Non-Guarantor Subsidiaries [Member]
|
Jun. 29, 2014
Non-Guarantor Subsidiaries [Member]
|
Sep. 30, 2013
Non-Guarantor Subsidiaries [Member]
|
Jun. 28, 2015
Eliminations [Member]
|
Sep. 30, 2014
Eliminations [Member]
|
Jun. 28, 2015
Notes 6.375% [Member]
|
Jun. 28, 2015
Notes 6.625% Due 2022 [Member]
|
Jun. 28, 2015
6.75% Notes [Member]
|
Jun. 23, 2015
6.75% Notes [Member]
|
Dec. 04, 2015
6.125% Notes [Member]
|
Jun. 28, 2015
6.125% Notes [Member]
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||||||||||||||||||||
Interest rate | 6.375% | 6.625% | 6.75% | 6.75% | 6.125% | 6.125% | ||||||||||||||||||
Cash and cash equivalents | $ 107.2 | $ 192.9 | $ 83.4 | $ 198.2 | $ 2.5 | $ 4.8 | $ 2.3 | $ 3.8 | $ 17.0 | $ 11.2 | $ 1.7 | $ 5.4 | $ 87.7 | $ 176.9 | $ 79.4 | $ 189.0 | ||||||||
Trade accounts receivable, net of allowances | 619.8 | 439.0 | 178.6 | 48.3 | 188.2 | 157.6 | 253.0 | 233.1 | ||||||||||||||||
Intercompany receivables | 1.7 | 296.9 | 106.9 | (50.3) | 937.3 | 542.5 | 587.0 | (787.4) | (1,631.2) | |||||||||||||||
Other | 101.6 | 76.4 | 13.7 | 2.3 | 12.5 | 8.3 | 75.4 | 65.8 | ||||||||||||||||
Inventories | 903.7 | 624.5 | 442.8 | 77.7 | 136.7 | 313.0 | 336.8 | 240.4 | (12.6) | (6.6) | ||||||||||||||
Deferred income taxes | 34.9 | 36.7 | 16.9 | (10.1) | 6.2 | 34.3 | 9.6 | 11.1 | 2.2 | 1.4 | ||||||||||||||
Prepaid expenses and other | 80.7 | 63.4 | 38.8 | 19.2 | 6.0 | 14.4 | 36.7 | 29.9 | (0.8) | (0.1) | ||||||||||||||
Total current assets | 1,849.6 | 1,432.9 | 990.2 | 249.1 | 316.3 | 1,476.1 | 1,341.7 | 1,344.2 | (798.6) | (1,636.5) | ||||||||||||||
Property, plant and equipment, net | 500.1 | 428.9 | 228.3 | 137.7 | 62.0 | 115.3 | 209.8 | 175.9 | ||||||||||||||||
Long-term intercompany receivables | 126.1 | 0.7 | 336.3 | 107.2 | 76.1 | 41.6 | (538.5) | (149.5) | ||||||||||||||||
Deferred charges and other | 38.5 | 37.3 | 19.5 | 126.4 | 1.4 | (118.0) | 17.6 | 28.9 | ||||||||||||||||
Goodwill | 2,488.0 | 1,469.6 | 901.5 | 67.7 | 1,069.6 | 1,030.7 | 516.9 | 371.2 | ||||||||||||||||
Intangible assets, net | 2,528.1 | 2,091.5 | 1,408.2 | 494.0 | 684.7 | 1,151.7 | 435.2 | 445.8 | ||||||||||||||||
Debt issuance costs | 69.5 | 51.1 | 69.5 | 46.6 | 4.5 | |||||||||||||||||||
Investments in subsidiaries | 3,650.4 | 4,076.3 | 1,878.9 | 1,279.0 | 450.9 | 0.4 | (5,980.2) | (5,355.7) | ||||||||||||||||
Total assets | 7,473.8 | 5,511.3 | 7,393.7 | 5,198.5 | 4,349.2 | 5,042.0 | 3,048.2 | 2,412.5 | (7,317.3) | (7,141.7) | ||||||||||||||
Current maturities of long-term debt | 99.5 | 112.6 | 65.7 | 75.2 | 6.9 | 33.8 | 30.5 | |||||||||||||||||
Accounts payable | 453.6 | 519.7 | 193.0 | 76.0 | 64.9 | 202.5 | 195.7 | 241.2 | ||||||||||||||||
Intercompany accounts payable | 416.4 | 1,366.0 | 246.9 | 830.0 | 66.0 | 81.2 | (729.3) | (2,277.2) | ||||||||||||||||
Wages and benefits | 80.7 | 88.1 | 30.0 | 25.6 | 10.2 | 19.4 | 40.5 | 43.1 | ||||||||||||||||
Income taxes payable | 15.5 | 18.5 | (0.7) | 1.3 | (2.6) | 0.2 | 18.8 | 17.0 | ||||||||||||||||
Accrued interest | 17.4 | 35.4 | 17.2 | 34.9 | 0.2 | 0.5 | ||||||||||||||||||
Other | 186.3 | 156.3 | 69.5 | 21.5 | 32.7 | 52.7 | 84.1 | 82.1 | ||||||||||||||||
Total current liabilities | 853.0 | 930.6 | 791.1 | 1,600.5 | 352.1 | 1,111.7 | 439.1 | 495.6 | (729.3) | (2,277.2) | ||||||||||||||
Long-term debt, net of current maturities | 4,294.3 | 2,894.1 | 4,270.5 | 2,539.2 | 8.9 | 23.8 | 346.0 | |||||||||||||||||
Long-term intercompany debt | 14.8 | 16.4 | 51.5 | (617.8) | 531.4 | 105.2 | (597.7) | 496.2 | ||||||||||||||||
Employee benefit obligations, net of current portion | 74.5 | 82.0 | 12.2 | 10.2 | 0.7 | 61.6 | 71.8 | |||||||||||||||||
Deferred income taxes | 599.1 | 513.2 | 210.2 | (52.3) | 285.9 | 462.2 | 103.0 | 103.3 | ||||||||||||||||
Other | 27.4 | 21.2 | 8.1 | 8.7 | 8.8 | 0.8 | 10.5 | 11.7 | ||||||||||||||||
Total liabilities | 5,848.3 | 4,441.1 | 5,306.9 | 4,122.7 | 699.0 | 965.8 | 1,169.4 | 1,133.6 | (1,327.0) | (1,781.0) | ||||||||||||||
Other capital | 1,967.3 | 1,413.8 | 2,428.6 | 1,419.5 | 1,615.2 | 3,296.9 | 823.7 | 1,284.8 | (2,900.2) | (4,587.4) | ||||||||||||||
Accumulated (deficit) retained earnings | (254.0) | (330.0) | (254.0) | (330.0) | 2,102.7 | 775.4 | 1,118.7 | (13.8) | (3,221.4) | (761.6) | ||||||||||||||
Accumulated other comprehensive loss | (137.5) | (63.1) | (137.5) | (63.1) | (123.4) | (51.0) | (119.3) | (47.0) | 242.7 | 98.0 | ||||||||||||||
Total shareholders' equity | 1,575.8 | 1,020.7 | 2,037.1 | 1,026.4 | 3,594.5 | 4,021.3 | 1,823.1 | 1,224.0 | (5,878.9) | (5,251.0) | ||||||||||||||
Non-controlling interest | 49.7 | 49.5 | 49.7 | 49.4 | 55.7 | 54.9 | 55.7 | 54.9 | (111.4) | (109.7) | ||||||||||||||
Total equity | 1,625.5 | 1,070.2 | 2,086.8 | 1,075.8 | 3,650.2 | 4,076.2 | 1,878.8 | 1,278.9 | (5,990.3) | (5,360.7) | ||||||||||||||
Total liabilities and equity | $ 7,473.8 | $ 5,511.3 | $ 7,393.7 | $ 5,198.5 | $ 4,349.2 | $ 5,042.0 | $ 3,048.2 | $ 2,412.5 | $ (7,317.3) | $ (7,141.7) |
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Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions, as well as valuations under fresh start reporting. No definition available.
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Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
Tell Manufacturing, Inc. [Member]
|
Jun. 28, 2015
European IAMS And Eukanuba [Member]
|
Jun. 28, 2015
Salix Animal Health LLC [Member]
|
Jun. 28, 2015
Armored Auto Group [Member]
|
Jun. 29, 2014
Liquid Fence [Member]
|
Jun. 28, 2015
SB/RH [Member]
|
Jun. 29, 2014
SB/RH [Member]
|
Jun. 28, 2015
SB/RH [Member]
Tell Manufacturing, Inc. [Member]
|
Jun. 28, 2015
SB/RH [Member]
Salix Animal Health LLC [Member]
|
Jun. 28, 2015
SB/RH [Member]
Armored Auto Group [Member]
|
Jun. 28, 2015
Guarantor Subsidiaries [Member]
|
Jun. 29, 2014
Guarantor Subsidiaries [Member]
|
Jun. 29, 2014
Guarantor Subsidiaries [Member]
Liquid Fence [Member]
|
Jun. 28, 2015
Non-Guarantor Subsidiaries [Member]
|
Jun. 29, 2014
Non-Guarantor Subsidiaries [Member]
|
Jun. 28, 2015
Non-Guarantor Subsidiaries [Member]
European IAMS And Eukanuba [Member]
|
Jun. 28, 2015
Eliminations [Member]
|
Jun. 29, 2014
Eliminations [Member]
|
Jun. 28, 2015
|
Jun. 29, 2014
|
Jun. 28, 2015
SB/RH [Member]
|
Jun. 28, 2015
Euro Term Loan [Member]
|
Jun. 28, 2015
Euro Term Loan [Member]
SB/RH [Member]
|
Jun. 28, 2015
CAD Term Loan [Member]
|
Jun. 28, 2015
CAD Term Loan [Member]
SB/RH [Member]
|
Jun. 28, 2015
6.125% Notes [Member]
|
Jun. 28, 2015
6.125% Notes [Member]
SB/RH [Member]
|
Jun. 28, 2015
Notes 5.75% Due July 15, 2025 [Member]
|
Jun. 28, 2015
Notes 5.75% Due July 15, 2025 [Member]
SB/RH [Member]
|
|
Condensed Cash Flow Statements, Captions [Line Items] | |||||||||||||||||||||||||||||||
Net cash used by operating activities | $ (163.6) | $ (49.2) | $ (544.1) | $ 317.1 | $ (355.9) | $ (300.9) | $ (1,358.3) | $ (61.4) | $ 2,094.7 | $ (4.0) | |||||||||||||||||||||
Purchases of property, plant and equipment | (49.5) | (50.9) | (25.0) | (17.0) | (7.3) | (18.6) | (17.2) | (15.3) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | (29.2) | (115.7) | (147.8) | (900.5) | (25.3) | (29.2) | (147.8) | (900.5) | (25.3) | (115.7) | |||||||||||||||||||||
Proceeds from sales of property, plant and equipment | 1.3 | 9.1 | 0.1 | 0.1 | 1.2 | 9.0 | |||||||||||||||||||||||||
Other investing activities | (0.9) | (0.2) | (0.9) | ||||||||||||||||||||||||||||
Net cash used by investing activities | (1,242.3) | (67.3) | (1,102.4) | (17.0) | (7.3) | (44.0) | (132.6) | (6.3) | |||||||||||||||||||||||
Proceeds from issuance of Term Loan, net of discount | 60.9 | 523.7 | 214.9 | 308.8 | 1,444.9 | 523.7 | 1,444.9 | 340.2 | 340.2 | 60.9 | 60.9 | ||||||||||||||||||||
Proceeds from issuance of Notes | 250.0 | 250.0 | 1,000.0 | 1,000.0 | |||||||||||||||||||||||||||
Payment of senior credit facilities, excluding ABL revolving credit facility | (2,281.9) | (567.5) | (1,989.8) | (567.5) | (292.1) | ||||||||||||||||||||||||||
Debt issuance costs | (37.3) | (5.5) | (37.3) | (0.5) | (5.0) | (12.4) | (4.9) | (0.6) | (4.6) | (19.5) | |||||||||||||||||||||
Other debt financing, net | 33.5 | 9.5 | 33.5 | 9.5 | |||||||||||||||||||||||||||
Revolving credit facility, net | 47.5 | 110.0 | 47.5 | 110.0 | |||||||||||||||||||||||||||
Cash dividends paid to parent | (51.0) | (42.0) | (51.0) | (42.0) | |||||||||||||||||||||||||||
Share based tax withholding payments, net of proceeds upon vesting | (1.9) | (26.5) | (1.9) | (17.7) | (6.4) | (2.4) | |||||||||||||||||||||||||
Capital contribution from parent | 528.3 | 528.3 | |||||||||||||||||||||||||||||
Proceeds from (advances related to) intercompany transactions | 18.9 | 1.2 | 369.0 | 347.6 | 1,706.8 | (352.8) | (2,094.7) | 4.0 | |||||||||||||||||||||||
Net cash provided by financing activities | 1,333.2 | 1.7 | 1,644.2 | (301.6) | 369.0 | 341.2 | 1,414.7 | (41.9) | (2,094.7) | 4.0 | |||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | (13.0) | (13.0) | |||||||||||||||||||||||||||||
Net decrease in cash and cash equivalents | (85.7) | (114.8) | (2.3) | (1.5) | 5.8 | (3.7) | (89.2) | (109.6) | |||||||||||||||||||||||
Cash and cash equivalents, beginning of period | 192.9 | 198.2 | 4.8 | 3.8 | 11.2 | 5.4 | 176.9 | 189.0 | |||||||||||||||||||||||
Cash and cash equivalents, end of period | $ 107.2 | $ 83.4 | $ 2.5 | $ 2.3 | $ 17.0 | $ 1.7 | $ 87.7 | $ 79.4 | |||||||||||||||||||||||
Interest rate | 2.50% | 6.125% | 5.75% |
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