  In this article we continue to explore the notion of Rota-Baxter algebras in
the context of the Hopf algebraic approach to renormalization theory in
perturbative quantum field theory. We show in very simple algebraic terms that
the solutions of the recursively defined formulae for the Birkhoff
factorization of regularized Hopf algebra characters, i.e. Feynman rules,
naturally give a non-commutative generalization of the well-known Spitzer's
identity. The underlying abstract algebraic structure is analyzed in terms of
complete filtered Rota-Baxter algebras.
