SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Total Revenue

Summarized financial information concerning our reportable segments was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
Total Revenue	2022		2021		2022		2021
Avon International**	$	357.6	$	416.4	$	710.9	$	847.3
Avon Latin America*	347.7		491.9		654.0		957.7
Total revenue from reportable segments*(1)	705.3		908.3		1,364.9		1,805.0
Revenue from affiliates to Natura &Co	7.9		8.7		11.6		16.4
Total revenue*(1)(4)	713.2		917.0		1,376.5		1,821.4

Schedule of Operating Loss

	Three Months Ended June 30,				Six Months Ended June 30,
Operating Loss	2022		2021		2022		2021
Segment profit/(loss)
Avon International**	$	24.9	$	.6	$	24.0	$	(6.4)
Avon Latin America*	(32.3)		17.6		(76.9)		13.0
Total profit (loss) from reportable segments*(2)(4)	$	(7.4)	$	18.2	$	(52.9)	$	6.6
Unallocated global expenses(3)	(6.3)		(6.9)		(12.2)		(12.9)
CTI restructuring initiatives	(15.5)		(30.4)		(26.3)		(49.9)
Operating loss*(4)	$	(29.2)	$	(19.1)	$	(91.4)	$	(56.2)

* 2021 includes the impact of certain Brazil indirect taxes which was recorded in product sales of approximately $9, in our Consolidated Income Statements. See Note 10 Supplemental Balance Sheet Information, to the Consolidated Financial Statements contained herein for further information.

** In June 2022, an Avon subsidiary concluded the negotiation of a settlement agreement to resolve a breach of contract dispute in Japan. As a result, Avon received cash compensation in the amount of $27.0 million of which $3.3 million related to the settlement of historically recognized revenues and the remaining $23.7 million recognized as revenue in the quarter ended June 30, 2022.

(1)Total revenue also includes revenue from other business activities of $.2 and $2.4 for the three months ended June 30, 2022 and 2021, and $.3 and $4.3 for the six months ended June 30, 2022 and 2021, respectively, allocated to Avon International and Avon Latin America segments. Other business activities include revenue from the sale of products to New Avon since the separation of the Company’s North America business into New Avon on March 1, 2016 and ongoing royalties from the licensing of our name and products.

(2)Total loss from reportable segments also includes profit from other business activities and central expenses allocated to Avon International and Avon Latin America segments. Other business activities of $.1 and $.3 for the three months ended June 30, 2022 and 2021, and $.2 and $.4 for the six months ended June 30, 2022 and 2021 respectively, include profit from the sale of products to New Avon since the separation of the Company’s North America business into New Avon on March 1, 2016 and ongoing royalties from the licensing of our name and products. Central expenses of $27.2 and $55.7 for the three months ended June 30, 2022 and 2021, and $56.2 and $115.9 for the six months ended June 30, 2022 and 2021 respectively, include corporate general and administrative expenses allocated to Avon International and Avon Latin America to the extent they support the operating activity of the segment.

(3)For the three and six months ended June 30, 2022 and 2021, unallocated global expenses primarily include stewardship and other expenses not directly attributable to reportable segments.

(4)On July 1, 2021, the Company sold Avon Luxembourg, including our Mexican business, to a subsidiary of Natura &Co Holding. As a result, from the same date, the results of Avon Luxembourg are no longer included within Avon's consolidated results. The three and six-month period ended June 30, 2021 includes the results of Avon Luxembourg.