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Household Products Restructuring
 9 Months Ended
Jun. 30, 2011
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]
Household Products Restructuring
The Company continually reviews its Personal Care and Household Products business models to identify potential improvements and cost savings. On November 1, 2010, the Board of Directors (the Board) authorized a Household Products multi-year program designed to accelerate investments in both geographic and product growth opportunities, streamline our worldwide manufacturing operations and improve the efficiency of our administrative operations. The Board authorized a broad restructuring plan and has delegated authority to management to determine the final plan with respect to the initiatives.


On March 7, 2011, the Company determined that, as part of its previously announced restructuring initiative, it would close its carbon zinc battery manufacturing facility in Cebu, Philippines and its alkaline battery manufacturing facility in La Chaux De Fonds (LCF), Switzerland. The carbon zinc and alkaline batteries previously supplied by the Cebu and LCF facilities are now produced in our remaining battery manufacturing facilities.


For the quarter and nine months ended June 30, 2011, the Company recorded pre-tax charges for the Household Products restructuring of $21.0 and $59.6, respectively, which were primarily the result of the announced closing of the Cebu and LCF facilities. These charges included severance and termination related costs of $34.1, accelerated depreciation on property, plant and equipment of $16.1, pension settlement costs of $2.3 and other related exit costs of $7.1. These costs are included as a separate line item on the Consolidated Statements of Earnings and Comprehensive Income (Condensed).


The following table summarizes the Household Products restructuring activities for the first nine months of fiscal 2011.


 
 
 
 
Utilized
 
Fiscal 2011
Beginning Balance
Charge to Income
Other Adjustments/CTA
Cash
Non-Cash
Ending Balance
Asset write-downs
$
—


$
16.1


$
—


$
—


$
(16.1
)
$
—


Severance & Termination Related Costs
—


34.1


2.6


(27.4
)
—


9.3


Pension Settlement Cost
—


2.3


—


(2.3
)
—


—


Other Related Exit Costs/CTA
—


7.1


—


(5.0
)
—


2.1


   Total
$
—


$
59.6


$
2.6


$
(34.7
)
$
(16.1
)
$
11.4






In addition to the restructuring activity noted above, the Company expects to record an additional pension settlement charge related to the closure of the LCF facility of approximately $6 in the fourth fiscal quarter of 2011, and implement additional elements of the restructuring plan, resulting in additional restructuring charges. As disclosed previously, the Company estimates that total pre-tax charges of approximately $75 to $85 will be incurred as a result of the Household Products restructuring initiative, inclusive of the impacts recorded as of June 30, 2011. The vast majority of the remaining charges are expected to be recorded in fiscal 2011. We anticipate $25 to $35 of annual pre-tax savings from the restructuring by the end of fiscal 2012.