XML 54 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Acquisitions
3 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Acquisitions
Acquisitions
Spectrum Brands’ Acquisition of Stanley Black & Decker’s Hardware and Home Improvement Business
On December 17, 2012, Spectrum Brands completed the cash acquisition of the residential hardware and home improvement business (the “HHI Business”) from Stanley Black & Decker, Inc. (“Stanley Black & Decker”), (the “Hardware Acquisition”). A portion of the HHI Business, consisting of the purchase of certain assets of Tong Lung Metal Industry Co. Ltd., a Taiwan Corporation (“TLM Taiwan”), closed on April 8, 2013.
EXCO/HGI JV
On February 14, 2013, EXCO Resources, Inc. (“EXCO”) and HGI formed the EXCO/HGI JV to own and operate conventional oil and natural gas properties. EXCO contributed to the EXCO/HGI JV its conventional assets in and above the Canyon Sand formation in the Permian Basin in West Texas as well as in the Holly, Waskom, Danville and Vernon fields in East Texas and North Louisiana. EXCO and HGI own an economic interest in the Partnership of 25.5% and 74.5% respectively.
Supplemental Pro Forma Information
The following table reflects the Company’s pro forma results as if the Hardware Acquisition and the acquisition of the Company's interest in the EXCO/HGI JV were completed on October 1, 2012 and the results of the HHI Business and the EXCO/HGI JV had been included in the full three three months ended December 30, 2012.
 
Three months ended
 
December 30,
2012
Revenues:
 
Reported revenues
$
1,222.3

HHI adjustment 
191.8

EXCO/HGI JV adjustment
36.5

Pro forma revenues
$
1,450.6

 
 
Net income:
 
Reported net income
$
68.1

HHI adjustment 
4.9

EXCO/HGI JV adjustment
0.6

Pro forma net income
$
73.6

 
 
Basic net income per common share attributable to controlling interest:
 
Reported net income per common share
$
0.31

HHI adjustment 
0.04

EXCO/HGI JV adjustment

Pro forma net income per common share
$
0.35

 
 
Diluted net income per common share attributable to controlling interest:
 
Reported diluted net income per common share
$
0.03

HHI adjustment 
0.02

EXCO/HGI JV adjustment

Pro forma diluted net income per common share
$
0.05