ENERGIZER 2000 ANNUAL REPOR T 28 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (Dollars in millions except per share data) (3) RELATED PARTY ACTIVITY Recently Issued Accounting Pronouncements – In June 1998, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 133, “Accounting  for Derivative Instruments and Hedging Activities” (SFAS 133) and  in June 2000, issued Statement of Financial Accounting Standards No. 138 (SFAS 138), an amendment of SFAS 133. These statements are effective for all fiscal quarters of fiscal years beginning after  June 15, 2000. The statements require the recognition of derivative financial instruments on the balance sheet as assets or liabilities,  at fair value. Gains or losses resulting from changes in the value of derivatives are accounted for depending on the intended use of the derivative and whether it qualifies for hedge accounting. Accordingly, Energizer has adopted the provisions of SFAS 133 as of the first quarter of fiscal year 2001. Energizer has determined that the  implementation of this standard will not have a material effect  on its consolidated financial position or results of operations. In December 1999, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 101, “Revenue Recognition  in Financial Statements.” SAB 101 provides guidance on recogni- tion, presentation and disclosure of revenue in financial statements. In addition, the Emerging Issues Task Force (EITF) issued EITF  00-10 and 00-14. EITF 00-10, “Accounting for Shipping and Handling Fees and Costs,” provides guidance on earnings statement classification of amounts billed to customers for shipping and  handling. EITF 00-14, “Accounting for Certain Sales Incentives,” provides guidance on accounting for discounts, coupon, rebates  and free product. Energizer will be required to adopt SAB 101, EITF 00-10 and EITF 00-14 no later than the fourth quarter of fiscal year 2001. Energizer does not expect the adoption of these statements  to have a material effect on its results of operations, however, certain reclassifications may be necessary. In September 2000, FASB issued Statement of Financial Accounting Standards No. 140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.” The statement  is effective for fiscal years ending after December 15, 2000. The Ralston’s Net Investment – Included in Ralston’s Net Investment are cumulative translation adjustments for non-hyperinflationary countries of $84.6 as of March 31, 2000 representing net devaluation of currencies relative to the U.S. dollar over the period of investment. Also included in Ralston’s Net Investment are accounts payable and receivable between Energizer and Ralston.  Shared Services – Energizer and Ralston have entered into a Bridging Agreement under which Ralston has continued to provide  certain general and administrative services to Energizer, including systems, benefits, advertising and facilities for Energizer’s headquar- ters. Prior to the spin-off, the expenses related to shared services  listed above, as well as legal and financial support services, were allocated to Energizer generally based on utilization, which manage- ment believes to be reasonable. Costs of these shared services charged to Energizer were $9.6, $20.0 and $20.9 for the six months ended March 31, 2000 and years ended September 30, 1999 and 1998, respectively. Actual expenses paid by Energizer to Ralston  for such services were $4.0 for the six-month period subsequent  to the spin-off. Cash Management – Prior to the spin-off, Energizer participated in a centralized cash management system administered by Ralston. Cash deposits from Energizer were transferred to Ralston on a daily basis and Ralston funded Energizer’s disbursement bank accounts  as required. Unpaid balances of checks were included in accounts payable. No interest was charged or credited on transactions  with Ralston.  statement replaces FASB Statement No. 125 and revises the stan- dards for accounting and disclosure for securitizations and other transfers of financial assets and collateral. The statement carries  over most of SFAS 125’s provisions without reconsideration and,  as such, Energizer believes that the implementation of this standard will not have a material effect on its consolidated financial position  or results of operations.