Segment Data

3 Months Ended

Dec. 31, 2019

For an overview of the Company’s segments, refer to Note 1 to Notes to Condensed Consolidated Financial Statements.

Segment performance is evaluated based on segment profit, exclusive of general corporate expenses, share-based compensation costs, restructuring charges, and certain costs deemed non-recurring in nature, including: acquisition and integration planning costs, the gain on the disposal of the Infant and Pet Care business, Feminine and Infant Care evaluation costs, legal settlement expenses, and the amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of such charges from segment results reflects management’s view on how it evaluates segment performance.

The Company completed the sale of its Infant and Pet Care business in December 2019. As a result, no additional Net Sales or Segment Profit will be reported for the All Other segment in subsequent periods.

The Company’s operating model includes some shared business functions across the segments, including product warehousing and distribution, transaction processing functions and, in most cases, combined sales force and management teams. The Company applies a fully allocated cost basis in which shared business functions are allocated between the segments. Such allocations are estimates and do not represent the costs of such services if performed on a stand-alone basis.

Segment net sales and profitability are presented below:


	Three Months Ended December 31,
	2019		2018
Net Sales
Wet Shave	$	277.0	$	287.7
Sun and Skin Care	75.1		66.7
Feminine Care	75.1		74.7
All Other	26.8		28.0
Total net sales	$	454.0	$	457.1

Segment Profit
Wet Shave	$	52.9	$	55.0
Sun and Skin Care	0.1		(0.6)
Feminine Care	13.1		7.5
All Other	3.1		1.2
Total segment profit	69.2		63.1
General corporate and other expenses	(13.3)		(13.7)
Restructuring and related costs ⁽¹⁾	(8.0)		(18.5)
Acquisition and integration planning costs ⁽²⁾	(6.2)		(0.5)
Gain on sale of Infant and Pet Care business	5.2		—
Feminine and Infant Care evaluation costs ⁽³⁾	(0.3)		—
Sun Care reformulation costs ⁽⁴⁾	—		(0.1)
Investor settlement expense ⁽⁵⁾	—		(0.9)
Amortization of intangibles	(4.3)		(4.5)
Interest and other expense, net	(12.7)		(17.3)
Total earnings before income taxes	$	29.6	$	7.6

(1)Includes pre-tax SG&A of $1.9 and $1.4 for the three months ended December 31, 2019 and 2018, respectively, associated with certain information technology enablement expenses for Project Fuel.

(2)Includes pre-tax SG&A of $6.2 and $0.5 for the three months ended December 31, 2019 and 2018, respectively, related to acquisition and integration planning costs.

(3)Includes pre-tax SG&A of $0.3 for the three months ended December 31, 2019.

(4)Includes pre-tax Cost of products sold of $0.1 for the three months ended December 31, 2018.

(5)Includes pre-tax SG&A of $0.9 for the three months ended December 31, 2018.

The following table presents the Company’s net sales by geographic area:


	Three Months Ended December 31,
	2019		2018
Net Sales to Customers
United States	$	251.1	$	251.3
International	202.9		205.8
Total net sales	$	454.0	$	457.1

Supplemental product information is presented below for net sales:


	Three Months Ended December 31,
	2019		2018
Razors and blades	$	244.3	$	255.3
Tampons, pads, and liners	75.1		74.7
Skin care products	37.9		33.5
Sun care products	37.2		33.2
Shaving gels and creams	32.7		32.4
Infant care and other	26.8		28.0
Total net sales	$	454.0	$	457.1