Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

Effective January 1, 2023, as a result of the implementation of a new operating model intended to drive further simplification and unlock additional efficiencies and synergies within the Company, the CODM now reviews the businesses as three operating segments: Home and Commercial Solutions, Learning and Development and Outdoor and Recreation. The Home and Commercial Solutions operating segment represents the combination of the previously reported Commercial Solutions, Home Appliances and Home Solutions operating segments. Prior period comparable results have been reclassified to conform to the operating segment change.

On March 31, 2022, the Company sold its CH&S business to Resideo Technologies, Inc. The results of operations for the CH&S business continued to be reported in the Condensed Consolidated Statements of Operations as part of the Home and Commercial Solutions segment through March 31, 2022.

The Company's three primary reportable segments are:

Segment	Key Brands	Description of Primary Products
Home and Commercial Solutions	Ball(1), Calphalon, Chesapeake Bay Candle, Crockpot, FoodSaver, Mapa, Mr. Coffee, Oster, Quickie, Rubbermaid, Rubbermaid Commercial Products, Sistema, Spontex, Sunbeam, WoodWick and Yankee Candle	Commercial cleaning and maintenance solutions; closet and garage organization; hygiene systems and material handling solutions; household products, including kitchen appliances; food and home storage products; fresh preserving products; vacuum sealing products; gourmet cookware, bakeware and cutlery and home fragrance products
Learning and  Development	Aprica, Baby Jogger, Dymo, Elmer’s, EXPO, Graco, Mr. Sketch, NUK, Paper Mate, Parker, Prismacolor, Sharpie, Tigex, Waterman and X-Acto	Baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions
Outdoor and Recreation	Campingaz, Coleman, Contigo, ExOfficio and Marmot	Products for outdoor and outdoor-related activities

(1) and Ball® TM of Ball Corporation, used under license.

This structure reflects the manner in which the CODM regularly assesses information for decision-making purposes, including the allocation of resources. The Company also provides general corporate services to its segments which is reported as a non-operating segment, Corporate.

Selected information by segment is presented in the following tables (in millions):

	Three Months Ended June 30,				Six Months Ended  June 30,
	2023		2022		2023		2022
Net sales (1)
Home and Commercial Solutions (3)	$	1,058	$	1,242	$	2,029	$	2,592
Learning and Development	813		865		1,377		1,515
Outdoor and Recreation	333		427		603		815
	$	2,204	$	2,534	$	4,009	$	4,922
Operating income (loss) (2)
Home and Commercial Solutions (3)	$	(21)	$	74	$	(58)	$	163
Learning and Development	188		245		260		383
Outdoor and Recreation	5		48		4		94
Corporate	(52)		(39)		(122)		(95)
	$	120	$	328	$	84	$	545
					June 30, 2023		December 31, 2022
Segment assets
Home and Commercial Solutions					$	5,045	$	5,243
Learning and Development					4,465		4,494
Outdoor and Recreation					881		920
Corporate					2,629		2,605
					$	13,020	$	13,262

(1)All intercompany transactions have been eliminated.

(2)Operating income (loss) by segment is net sales less cost of products sold, SG&A, restructuring and impairment of goodwill, intangibles and other assets. Certain Corporate expenses of an operational nature are allocated to business segments primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of net sales basis and included in segment operating income (loss).

(3)Home and Commercial Solutions net sales and operating income for the first quarter of 2022 include the CH&S business prior to its sale.

The following table disaggregates revenue by major product grouping source for the periods indicated (in millions):

	Three Months Ended June 30,				Six Months Ended  June 30,
	2023		2022		2023		2022
Commercial	$	378	$	429	$	726	$	830
Kitchen	549		650		1,008		1,292
Home Fragrance	131		163		295		361
Connected Home and Security	—		—		—		109
Home and Commercial Solutions	1,058		1,242		2,029		2,592
Baby	251		313		468		604
Writing	562		552		909		911
Learning and Development	813		865		1,377		1,515
Outdoor and Recreation	333		427		603		815
TOTAL	$	2,204	$	2,534	$	4,009	$	4,922

The following table disaggregates revenue by geography for the periods indicated (in millions):

	Three months ended June 30,
	2023						2022
	North America		International		TOTAL		North America		International		TOTAL
Home and Commercial Solutions	$	698	$	360	$	1,058	$	863	$	379	$	1,242
Learning and Development	609		204		813		656		209		865
Outdoor and Recreation	188		145		333		237		190		427
	$	1,495	$	709	$	2,204	$	1,756	$	778	$	2,534
	Six months ended June 30,
	2023						2022
	North America		International		TOTAL		North America		International		TOTAL
Home and Commercial Solutions	$	1,341	$	688	$	2,029	$	1,838	$	754	$	2,592
Learning and Development	1,004		373		1,377		1,124		391		1,515
Outdoor and Recreation	334		269		603		447		368		815
	$	2,679	$	1,330	$	4,009	$	3,409	$	1,513	$	4,922