XML 51 R1.htm IDEA: XBRL DOCUMENT v3.3.0.814
Document and Entity Information - shares
9 Months Ended
Jun. 30, 2015
Jul. 31, 2015
Document and Entity Information    
Entity Registrant Name NBTY INC  
Entity Central Index Key 0000070793  
Document Type 10-Q/A  
Document Period End Date Jun. 30, 2015  
Amendment Flag true  
Amendment Description NBTY, Inc. (the "Company") is filing this amendment No. 1 on Form 10-Q/A (this "Amendment") to amend its Quarterly Report on Form 10-Q for the fiscal period ended June 30, 2015, as filed on August 5, 2015 (the "Original Filing"), to restate its consolidated financial statements as of and for the fiscal quarter and year-to-date period ended June 30, 2015 and its Evaluation of Disclosure Controls and Procedures as of June 30, 2015, as well as to revise its consolidated balance sheet as of September 30, 2014. On November 10, 2015, the Audit Committee of the Board of Directors of the Company concluded, in consultation with management that the Company's previously issued consolidated financial statements for the fiscal periods ended June 30, 2015 as contained in the Original Filing should no longer be relied upon and should be restated due to the effect of the errors described below. During the preparation of the annual consolidated financial statements for the fiscal year ended September 30, 2015 ("fiscal 2015"), the Company discovered a financial statement error attributable to the accounting for the accelerated depreciation of assets being sold in conjunction with the closure of its nutritional bar manufacturing plant. More specifically, the Company determined that accelerated depreciation had been understated for the three and nine months ended June 30, 2015 by $4,904 and $6,539, respectively. Additionally, in prior interim periods during the fiscal 2015 the Company had recorded and disclosed out-of-period adjustments that the Company concluded at the time of recording of those adjustments, based on its evaluation of both quantitative and qualitative factors, were not material to any of its previously issued consolidated financial statements. These adjustments included the following: • As disclosed in the Original Filing, during the first quarter of fiscal 2015, the Company recorded an out-of-period adjustment to cost of sales and label inventory of $3,708. This immaterial adjustment is a result of the Company correcting its policy of expensing all labels upon receipt. Accordingly, on-hand labels are now recorded as a part of ending inventory on the consolidated balance sheet. • As disclosed in the Original Filing, during the second and third quarter of fiscal 2015, the Company recorded an out-of-period adjustment to selling, general and administrative expenses and cost of sales and prepaid rent totaling $3,252. This immaterial adjustment is a result of the Company correcting its policy of expensing rent, primarily at certain retail locations, at the payment date. Accordingly, prepaid rent is now recorded on the consolidated balance sheet and amortized during the period of use. In evaluating the materiality of these errors, both individually and in the aggregate, the Company considered both qualitative and quantitative factors relevant to that assessment. In doing so, the Company concluded that the aggregate impact of these errors resulted in a material misstatement of its consolidated financial statements for the three and nine months ended June 30, 2015. Accordingly, those consolidated financial statements are being restated to record the additional accelerated depreciation as well as to correct for the out-of-period adjustments noted above. Additionally, to correct for the out-of-period adjustments discussed above the Company has also revised its consolidated balance sheet as of September 30, 2014 as included within the consolidated financial statements in this Amendment. The Company concluded that such previously disclosed out-of-period adjustments are immaterial on an individual basis and, as a result, would not require the Company to restate its previously issued consolidated financial statements for the fiscal quarter ended December 31, 2014 and the fiscal quarter and six months ended March 31, 2015; however, in future filings the Company will also revise its consolidated financial statements for the interim periods ended December 31, 2014 and March 31, 2015 for these immaterial adjustments. In addition, the previously disclosed out-of-period adjustments for which the Company has restated had no effect on the cash position of the Company for any period, did not impact any covenants under its debt agreements and did not require a change to the consolidated financial statements for interim or annual periods for the fiscal year ended September 30, 2014 or any prior period, other than balance sheet revisions, as the income statement impact for all previously reported periods is de minimis for the previously disclosed out-of-period adjustments described above. Refer to Note 1, Restatement of Financial Statements Previously Issued Financial Statements, in the Notes to the Consolidated Financial Statements set forth in this Amendment for further information relating to this restatement. This amended Quarterly Report on Form 10-Q/A sets forth the Original Filing in its entirety; however, pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this amended Quarterly Report on Form 10-Q/A amends and restates the Original Filing only with respect to matters affected by the restatement. The following items in the Original Filing have been amended as a result of this restatement: Part I, Item 1. Financial Statements Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Part I, Item 4. Controls and Procedures Part II, Item 1A. Risk Factors Part II, Item 6. Exhibits (with respect to Exhibits 31 and 32) The Company's Chief Executive Officer and Chief Financial Officer are providing currently dated certifications in connection with this amended Quarterly Report on Form 10-Q/A and various exhibits related to XBRL. These certifications are filed as Exhibits 31 and 32 to this Amendment. This amended Quarterly Report on Form 10-Q/A does not modify or update other disclosures presented in the Original Filing, including the exhibits to the Original Filing, except as identified above. As such, except for the items identified above, this amended Quarterly Report on Form 10-Q/A speaks as of August 5, 2015, the original filing date, and any forward-looking statements represent management's views as of that date and should be not be assumed to be accurate as of any date thereafter. This amended Quarterly Report on Form 10-Q/A should be read in conjunction with our other filings made with the Securities and Exchange Commission subsequent to August 5, 2015.  
Current Fiscal Year End Date --09-30  
Entity Voluntary Filers Yes  
Entity Current Reporting Status No  
Entity Filer Category Non-accelerated Filer  
Entity Common Stock, Shares Outstanding   1,000
Document Fiscal Year Focus 2015  
Document Fiscal Period Focus Q3