SEGMENT RESULTS

9 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT RESULTS

SEGMENT RESULTS

The Company operates through strategic business units (SBUs) that are organized into the Company’s operating segments. The operating segments are then aggregated into four reportable segments: Health and Wellness, Household, Lifestyle and International.

Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, prepaid expenses and other current assets, property and equipment, operating lease right-of-use assets, other long-term assets and deferred taxes.

The tables below present reportable segment information and a reconciliation of the segment information to the Company’s consolidated net sales and earnings (losses) before income taxes, with amounts that are not allocated to the reportable segments reflected in Corporate.

	Net sales
	Three Months Ended				Nine Months Ended
	3/31/2023		3/31/2022		3/31/2023		3/31/2022
Health and Wellness	$	707	$	662	$	2,054	$	2,055
Household	550		539		1,435		1,404
Lifestyle	353		306		1,005		961
International	305		302		876		886
Total	$	1,915	$	1,809	$	5,370	$	5,306
	Earnings (losses) before income taxes
	Three Months Ended				Nine Months Ended
	3/31/2023		3/31/2022		3/31/2023		3/31/2022
Health and Wellness (1)	$	(290)	$	84	$	(72)	$	245
Household	99		92		165		138
Lifestyle	83		66		217		239
International (2)	15		31		62		80
Corporate (3)	(152)		(73)		(371)		(224)
Total	$	(245)	$	200	$	1	$	478

(1)The earnings (losses) before income taxes for the Health and Wellness segment includes $433 of non-cash impairment charges related to the VMS business for the three and nine months ended March 31, 2023.

(2)The earnings (losses) before income taxes for the International segment include $12 of non-cash impairment charges related to the VMS business for the three and nine months ended March 31, 2023.

(3)The losses before income taxes for Corporate includes restructuring and related implementation costs, net for the streamlined operating model of $21 and $44 for the three and nine months ended March 31, 2023, respectively. While recorded within the Corporate segment, for informational purposes the following table provides the approximate restructuring and related implementation costs, net corresponding to the Company’s reportable segments as a percentage of the total costs:

	Three Months Ended		Nine Months Ended
	3/31/2023		3/31/2023
Health and Wellness	7	%	6	%
Household	4		2
Lifestyle	2		3
International	21		19
Corporate	66		70
Total	100	%	100	%

All intersegment sales are eliminated and are not included in the Company’s reportable segments’ net sales.

Net sales to the Company’s largest customer, Walmart Inc. and its affiliates, as a percentage of consolidated net sales, were 26% for the three and nine months ended March 31, 2023 and 25% for the three and nine months ended March 31, 2022.

The following table provides Net sales as a percentage of the Company’s consolidated net sales, disaggregated by operating segment, for the periods indicated:

	Net sales
	Three Months Ended				Nine Months Ended
	3/31/2023		3/31/2022		3/31/2023		3/31/2022
Cleaning	30	%	28	%	30	%	30	%
Professional Products	4		4		5		5
Vitamins, Minerals and Supplements	3		4		3		4
Health and Wellness	37	%	36	%	38	%	39	%
Bags and Wraps	12		12		12		12
Grilling	8		10		6		6
Cat Litter	9		8		9		8
Household	29	%	30	%	27	%	26	%
Food	10		10		11		10
Natural Personal Care	4		4		4		4
Water Filtration	4		3		4		4
Lifestyle	18	%	17	%	19	%	18	%
International	16	%	17	%	16	%	17	%
Total	100	%	100	%	100	%	100	%