REVENUE RECOGNITION

3 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

The Company generates all of its revenue from contracts with customers. The following table disaggregates our revenue for the three month periods ended December 31, 2023 and January 1, 2023, by the Company’s key revenue streams, segments and geographic region (based upon destination):

	Three Month Period Ended December 31, 2023								Three Month Period Ended January 1, 2023
(in millions)	GPC		H&G		HPC		Total		GPC		H&G		HPC		Total
Product Sales
NA	$	168.6	$	70.0	$	135.0	$	373.6	$	174.3	$	69.0	$	164.5	$	407.8
EMEA	95.1		—		144.2		239.3		86.6		—		137.3		223.9
LATAM	3.0		1.7		43.3		48.0		3.2		1.9		41.8		46.9
APAC	6.2		—		18.9		25.1		9.5		—		17.8		27.3
Licensing	2.5		0.3		1.7		4.5		2.4		0.5		2.5		5.4
Service and other	1.5		—		0.2		1.7		1.5		—		0.5		2.0
Total Revenue	$	276.9	$	72.0	$	343.3	$	692.2	$	277.5	$	71.4	$	364.4	$	713.3

The Company has a broad range of customers, including many large retail customers. During the three month periods ended December 31, 2023 and January 1, 2023, there were two large retail customers, each exceeding 10% of consolidated Net Sales and representing 38.2% and 36.2% of consolidated Net Sales, respectively.

A significant portion of our product sales from our HPC segment are subject to the continued use and access to the Black & Decker ("B&D") brand through a license agreement with Stanley Black and 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 consisted of $94.1 million, or 13.6% of consolidated net sales, and $86.7 million, or 12.2% of consolidated Net Sales, for the three month periods ended December 31, 2023 and January 1, 2023, respectively. All other significant brands and tradenames used in the Company’s commercial operations are directly owned and not subject to further restrictions.

In the normal course of business, the Company may allow customers to return products 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 be received. The allowance for product returns as of December 31, 2023 and September 30, 2023 was $16.3 million and $12.8 million, respectively.