Segments

9 Months Ended

Sep. 30, 2024

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, 2024, the Company held 50% ownership interests in each of Armand and ArmaKleen, respectively. The Company’s equity in earnings of Armand and ArmaKleen, totaling $3.0 and $1.7 for the three months ended September 30, 2024 and 2023, respectively, and $7.2 and $8.1 for the nine months ended September 30, 2024 and 2023, respectively, are included in the Corporate segment. In October 2024, the Company sold its 50% interest in Armakleen to an unrelated third party. The transaction is not material to the Company’s results of operations or cash flows.

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 (loss) before income taxes are as follows:

	Consumer			Consumer
	Domestic			International			SPD		Corporate(3)		Total
Net Sales(1)
Third Quarter 2024	$	1,170.8		$	267.7		$	72.1	$	0.0	$	1,510.6
Third Quarter 2023		1,133.1			244.4			78.4		0.0		1,455.9
First Nine Months of 2024	$	3,506.6		$	786.4		$	232.1	$	0.0	$	4,525.1
First Nine Months of 2023		3,378.2			716.9			244.8		0.0		4,339.9
(Loss) Income before Income Taxes(2)
Third Quarter 2024(4)	$	(107.1	)	$	(4.7	)	$	7.4	$	3.0	$	(101.4	)
Third Quarter 2023		203.4			22.7			6.2		1.7		234.0
First Nine Months of 2024(4)	$	405.3		$	61.2		$	29.5	$	7.2	$	503.2
First Nine Months of 2023		662.8			79.1			22.2		8.1		772.2

(1)Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $7.0 and $4.7 for the three months ended September 30, 2024 and September 30, 2023, respectively, and were $19.6 and $11.7 for the nine months ended September 30, 2024 and September 30, 2023, respectively.

(2)In determining income (loss) 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 (loss) 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, 2024 and September 30, 2023. The Company's 50% interest in Armakleen was sold to an unrelated third party in October of 2024. The transaction is not material to the Company’s results of operations or cash flows.

(4)In the third quarter and first nine months of 2024, the results include the VMS non-cash intangible and PP&E impairment charges of $357.1 in SG&A expenses, of which $327.4 was recorded in the Consumer Domestic segment and $29.7 was recorded in the Consumer International segment.

Product line revenues from external customers are as follows:

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2024		2023		2024		2023
Household Products	$	637.4	$	636.2	$	1,929.5	$	1,857.0
Personal Care Products		533.4		496.9		1,577.1		1,521.2
Total Consumer Domestic		1,170.8		1,133.1		3,506.6		3,378.2
Total Consumer International		267.7		244.4		786.4		716.9
Total SPD		72.1		78.4		232.1		244.8
Total Consolidated Net Sales	$	1,510.6	$	1,455.9	$	4,525.1	$	4,339.9

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.