Segment Data

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Data

Segment Data

For an overview of the Company’s segments, refer to Note 1 of the Notes to Condensed Consolidated Financial Statements. Segment performance is evaluated based on segment profit, excluding certain U.S. GAAP items that management does not believe are indicative of ongoing operating performance due to their unusual or non-recurring nature and which may have a disproportionate positive or negative impact on the Company’s financial results in any particular period. Financial items, such as interest income and expense, are managed on a global basis at the corporate level and therefore are excluded from segment profit. The exclusion of such charges from segment results reflects management’s view on how management monitors and evaluates segment operating performance, generates future operating plans and makes strategic decisions regarding the allocation of capital.

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.

Segment net sales and profitability are presented below:

	Three Months Ended December 31,
	2023		2022
Net Sales
Wet Shave	$	301.7	$	275.3
Sun and Skin Care	115.4		112.9
Feminine Care	71.8		80.9
Total net sales	$	488.9	$	469.1
Segment Profit
Wet Shave	$	53.7	$	35.7
Sun and Skin Care	(1.3)		13.3
Feminine Care	7.3		11.9
Total segment profit	59.7		60.9
General corporate and other expenses	(16.2)		(15.9)
Amortization of intangibles	(7.8)		(7.7)
Interest and other expense, net	(20.1)		(14.9)
Restructuring and related costs (1)	(6.8)		(2.8)
Acquisition and integration costs (2)	(0.7)		(2.1)
Sun Care reformulation costs (3)	(0.5)		(0.5)
Wet Ones manufacturing plant fire (4)	(1.5)		—
Other project costs	(0.1)		—
Total earnings before income taxes	$	6.0	$	17.0

(1)Includes pre-tax SG&A of nil and $0.1 for the three months ended December 31, 2023 and 2022, respectively.

(2)Includes pre-tax SG&A of $0.7 and $2.1 for the three months ended December 31, 2023 and 2022, respectively, for the acquisition of Billie, Inc. on November 29, 2021.

(3)Includes pre-tax R&D of $0.5 and $0.5 for the three months ended December 31, 2023 and 2022, respectively, related to the reformulation, recall and destruction of certain Sun Care products.

(4)On December 1, 2023, a fire occurred at our Wet Ones manufacturing plant in Sidney, Ohio. There were no injuries reported and damage was limited to a single manufacturing process. As a consequence of the fire damage, there was a partial shutdown of the operations that manufacture Wet Ones raw materials. Through the three months ended December 31, 2023, the Company has incurred $1.5 in costs related to incremental material charges, labor and absorption as a result of the fire.

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

	Three Months Ended December 31,
	2023		2022
Net Sales to Customers
United States	$	254.2	$	271.8
International	234.7		197.3
Total net sales	$	488.9	$	469.1

Supplemental product information is presented below for net sales:

	Three Months Ended December 31,
	2023		2022
Razors and blades	$	270.5	$	247.0
Tampons, pads, and liners	71.8		80.9
Sun care products	51.0		47.8
Grooming products	46.8		47.3
Wipes and other skin care	17.6		17.8
Shaving gels and creams	31.2		28.3
Total net sales	$	488.9	$	469.1