Page
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Report
of Independent Registered Public Accounting Firm
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1
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Statements
of Net Assets Available for Plan Benefits -
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December
31, 2004 and 2003
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2
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Statements
of Changes in Net Assets Available for Plan Benefits
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For
the Years ended December 31, 2004 and 2003
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3
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Notes
to Financial Statements
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4
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Supplemental
Schedule
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Schedule
H, Line 4i - Schedule of Assets (Held at End of Year)
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11
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2004
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2003
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||||||
Plan
interest in Master Trust for Rayovac Corporation (note 6)
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$
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4,021,597
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$
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3,296,126
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|||
Assets
available for plan benefits
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$
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4,021,597
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$
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3,296,126
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2004
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2003
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||||||
Increase
in assets:
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|||||||
Investment
gain from Master Trust for Rayovac Corporation
(note
6)
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$
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343,105
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$
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607,419
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|||
Interest
and dividends
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55,386
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40,710
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|||||
Participant
contributions
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601,382
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540,030
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|||||
Total
increases
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999,873
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1,188,159
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|||||
Deductions
from assets:
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|||||||
Distributions
and benefits paid
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(271,411
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)
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(505,507
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)
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|||
Administrative
expenses
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(2,991
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)
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(3,649
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)
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Total
deductions
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(274,402
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)
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(509,156
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)
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Net
increase in assets
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725,471
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679,003
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Assets
available for plan benefits:
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|||||||
Beginning
of year
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3,296,126
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2,617,123
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|||||
End
of year
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$
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4,021,597
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$
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3,296,126
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(6)
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Master
Trust for Rayovac
Corporation
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2004
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2003
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||||||
Assets:
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|||||||
Investments,
at fair value:
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|||||||
Mutual
funds
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$
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66,084,412
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$
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56,751,041
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|||
Participant
loans, interest rates of Prime plus 150 basis
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|||||||
points
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322,094
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242,615
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|||||
Rayovac
Corporation common stock
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3,340,636
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3,006,640
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|||||
Accrued
Receivable (Remington merger)
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2,735,304
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—
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|||||
Total
assets
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$
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72,482,446
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$
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60,000,296
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2004
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2003
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||||||
Increases
in assets:
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|||||||
Investment
income:
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|||||||
Net
appreciation in fair value of investments:
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|||||||
Mutual
funds
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$
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4,543,119
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$
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8,864,775
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Rayovac
Corporation common stock
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1,261,284
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1,220,182
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|||||
Total
appreciation in fair value of investments
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5,804,403
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10,084,957
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|||||
Interest
and dividends
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1,118,150
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813,908
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|||||
Total
investment income in Master Trust
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6,922,553
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10,898,865
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|||||
Participant
contributions
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4,095,254
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3,473,357
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|||||
Employer
contributions
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1,870,679
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1,597,193
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|||||
Rollovers
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250,745
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160,536
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|||||
Other
Deposits (Remington Merger)
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4,675,865
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—
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Total
increases
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17,815,096
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16,129,951
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|||||
Deductions
from assets:
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|||||||
Distributions
and benefits paid
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5,318,038
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6,708,473
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|||||
Administrative
expenses
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14,908
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17,940
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|||||
Total
deductions
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5,332,946
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6,726,413
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Net
increase (decrease) in assets
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12,482,150
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9,403,538
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|||||
Assets,
beginning of year
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60,000,296
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50,596,758
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|||||
Assets,
end of year
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$
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72,482,446
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$
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60,000,296
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(7)
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Subsequent
Event
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Description
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Current
value
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|||
5.5%
interest in the Master Trust for Rayovac Corporation
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$
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4,021,597
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