Segments

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segments

18.Segments

Segment Information

The Company operates three reportable segments: Consumer Domestic, Consumer International and Specialty Products Division. These segments are determined based on differences in the nature of products and organizational structure. The Company also has a Corporate segment.

Segment revenues are derived from the sale of the following products:

Segment	Products
Consumer Domestic	Household and personal care products
Consumer International	Primarily personal care products
SPD	Specialty chemical products

The Corporate segment income consists of equity in earnings of affiliates. As of September 30, 2023, the Company held 50% ownership interests in each of Armand and ArmaKleen, respectively. The Company’s equity in earnings of Armand and ArmaKleen, totaling $1.7 and $3.7 for the three months ended September 30, 2023 and 2022, respectively, and $8.1 and $10.0 for the nine months ended September 30, 2023 and 2022, respectively, are included in the Corporate segment.

Certain subsidiaries that are included in the Consumer International segment manufacture and sell personal care products to the Consumer Domestic segment. These sales are eliminated from the Consumer International segment results set forth in the table below.

Segment net sales and income before income taxes are as follows:

	Consumer		Consumer
	Domestic		International		SPD		Corporate(3)		Total
Net Sales(1)
Third Quarter 2023	$	1,133.1	$	244.4	$	78.4	$	0.0	$	1,455.9
Third Quarter 2022		1,010.4		219.7		87.2		0.0		1,317.3
First Nine Months of 2023	$	3,378.2	$	716.9	$	244.8	$	0.0	$	4,339.9
First Nine Months of 2022		3,010.2		664.8		264.6		0.0		3,939.6
Income before Income Taxes(2)
Third Quarter 2023	$	203.4	$	22.7	$	6.2	$	1.7	$	234.0
Third Quarter 2022		193.9		22.7		14.2		3.7		234.5
First Nine Months of 2023	$	662.8	$	79.1	$	22.2	$	8.1	$	772.2
First Nine Months of 2022		618.3		80.8		38.1		10.0		747.2

(1)Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $4.7 and $3.9 for the three months ended September 30, 2023 and September 30, 2022, respectively, and were $11.7 and $12.5 for the nine months ended September 30, 2023 and September 30, 2022, respectively.

(2)In determining income before income taxes, interest expense, investment earnings and certain aspects of other income and expense were allocated among segments based upon each segment’s relative income from operations.

(3)The Corporate segment consists of equity in earnings of affiliates from Armand and ArmaKleen for the three and nine months ended September 30, 2023 and September 30, 2022.

Product line revenues from external customers are as follows:

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2023		2022		2023		2022
Household Products	$	636.2	$	592.3	$	1,857.0	$	1,685.6
Personal Care Products		496.9		418.1		1,521.2		1,324.6
Total Consumer Domestic		1,133.1		1,010.4		3,378.2		3,010.2
Total Consumer International		244.4		219.7		716.9		664.8
Total SPD		78.4		87.2		244.8		264.6
Total Consolidated Net Sales	$	1,455.9	$	1,317.3	$	4,339.9	$	3,939.6

Household Products include laundry, deodorizing and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin care and hair care products, cold and remedy products, and gummy dietary supplements.