REVENUE RECOGNITION

12 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

The Company generates all of its revenue from contracts with customers. The following tables disaggregate our revenue for the years ended September 30, 2023, 2022 and 2021 by the Company’s key revenue streams, segments and geographic regions (based upon destination):

	September 30, 2023
(in millions)	GPC		H&G		HPC		Total
Product Sales
NA	$	710.7	$	527.1	$	514.4	$	1,752.2
EMEA	361.3		—		465.0		826.3
LATAM	18.0		7.3		181.5		206.8
APAC	33.3		—		73.3		106.6
Licensing	10.0		2.1		7.8		19.9
Other	5.7		—		1.3		7.0
Total Revenue	$	1,139.0	$	536.5	$	1,243.3	$	2,918.8

	September 30, 2022
(in millions)	GPC		H&G		HPC		Total
Product Sales
NA	$	749.8	$	576.8	$	609.7	$	1,936.3
EMEA	353.6		—		460.7		814.3
LATAM	19.3		8.0		216.1		243.4
APAC	36.5		0.1		71.9		108.5
Licensing	9.9		2.2		10.3		22.4
Other	6.2		—		1.4		7.6
Total Revenue	$	1,175.3	$	587.1	$	1,370.1	$	3,132.5

	September 30, 2021
(in millions)	GPC		H&G		HPC		Total
Product Sales
NA	$	699.9	$	598.6	$	493.5	$	1,792.0
EMEA	359.8		—		512.1		871.9
LATAM	15.8		7.0		170.6		193.4
APAC	38.9		—		72.7		111.6
Licensing	9.8		2.5		11.2		23.5
Other	5.7		—		—		5.7
Total Revenue	$	1,129.9	$	608.1	$	1,260.1	$	2,998.1

A significant portion of our product sales from our HPC segment, primarily in the NA and LATAM regions, are subject to the continued use and access of the Black+Decker® ("B&D") brand through a license agreement with Stanley Black & Decker. The license agreement was renewed through June 30, 2025, including a sell-off period from April 1, 2025 to June 30, 2025 whereby the Company can continue to sell and distribute but no longer produce products subject to the license agreement. Net sales from B&D product sales consist of $350.4 million, $417.3 million, and $400.2 million for the years ended September 30, 2023, 2022 and 2021, respectively. All other brands and tradenames used in the Company’s commercial operations are either directly owned and not subject to further restrictions, or do not aggregate to a significant portion of total product sales for the Company.

The Company has a broad range of customers including many large mass retail customers. During the year ended September 30, 2023, 2022 and 2021, there were two large retail customers, each exceeding 10% of consolidated Net Sales and representing 33.9%, 32.9%, and 31.4% of consolidated Net Sales, respectively.

In the normal course of business, the Company may allow customers to return product or take credit for product returns per the provisions in a sale agreement. Estimated product returns are recorded as a reduction in reported revenues at the time of sale based upon historical product return experience, adjusted for known trends, to arrive at the amount of consideration expected to receive. The following is a rollforward of the liability for product returns for the years ended September 30, 2023, 2022 and 2021:

(in millions)	Beginning Balance		Charged to Profit & Loss		Deductions		Other Adjustments		Ending Balance
September 30, 2023	$	15.5	$	8.7	$	(11.2)	$	(0.2)	$	12.8
September 30, 2022	11.8		12.4		(19.8)		11.1		15.5
September 30, 2021	12.8		1.5		(2.9)		0.4		11.8

Other adjustments includes foreign currency translation and the liability for product returns assumed as part of the acquisition of the Tristar Business during the year ended September 30, 2022. See Note 4 - Acquisitions for further discussion on the Tristar Business acquisition.