XML 43 R24.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in two product segments: Oral, Personal and Home Care; and Pet Nutrition. 

The operations of the Oral, Personal and Home Care product segment are managed geographically in five reportable operating segments: North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

The Company evaluates segment performance based on several factors, including Operating profit. The Company uses Operating profit as a measure of operating segment performance because it excludes the impact of Corporate-driven decisions related to interest expense and income taxes.

The accounting policies of the operating segments are generally the same as those described in Note 2, Summary of Significant Accounting Policies. Intercompany sales have been eliminated. Corporate operations include costs related to stock options and restricted stock units, research and development costs, Corporate overhead costs, restructuring and related implementation charges and gains and losses on sales of non-core product lines and assets. The Company reports these items within Corporate operations as they relate to Corporate-based responsibilities and decisions and are not included in the internal measures of segment operating performance used by the Company to measure the underlying performance of the operating segments.

Approximately 70% of the Company’s Net sales are generated from markets outside the U.S., with approximately 45% of the Company’s Net sales coming from emerging markets (which consist of Latin America, Asia (excluding Japan), Africa/Eurasia and Central Europe). Oral, Personal and Home Care sales to Walmart, Inc. and its affiliates represent approximately 12%, 12% and 11% of the Company’s Net sales in 2021, 2020 and 2019, respectively. No other customer represented more than 10% of Net sales in any period presented.

In 2021, Corporate Operating profit included goodwill and indefinite-lived intangible impairment charges of $571, and a benefit of $26 related to a value-added tax matter in Brazil. In 2020, Corporate Operating profit included benefits of $16 resulting from the Global Growth and Efficiency Program and a charge of $6 for acquisition-related costs. In 2019, Corporate Operating profit included charges of $125 resulting from the Global Growth and Efficiency Program, a charge of $24 for acquisition-related costs and a benefit of $30 from a value-added tax matter in Brazil.
 202120202019
Net sales  
Oral, Personal and Home Care  
North America(1)
$3,694 $3,741 $3,424 
Latin America3,663 3,418 3,606 
Europe2,841 2,747 2,450 
Asia Pacific2,867 2,701 2,707 
Africa/Eurasia1,045 981 981 
Total Oral, Personal and Home Care14,110 13,588 13,168 
Pet Nutrition(2)
3,311 2,883 2,525 
Total Net sales$17,421 $16,471 $15,693 
_________
(1)    Net sales in the U.S. for Oral, Personal and Home Care were $3,391, $3,447 and $3,166 in 2021, 2020 and 2019, respectively.
(2)    Net sales in the U.S. for Pet Nutrition were $2,018, $1,712 and $1,441 in 2021, 2020 and 2019, respectively.
202120202019
Operating profit  
Oral, Personal and Home Care  
North America$754 $988 $982 
Latin America1,012 975 963 
Europe682 652 624 
Asia Pacific844 773 749 
Africa/Eurasia203 206 187 
Total Oral, Personal and Home Care3,495 3,594 3,505 
Pet Nutrition901 793 703 
Corporate(1,064)(502)(654)
Total Operating profit$3,332 $3,885 $3,554 

202120202019
Capital expenditures  
Oral, Personal and Home Care  
North America$87 $65 $43 
Latin America118 104 90 
Europe44 41 42 
Asia Pacific50 51 40 
Africa/Eurasia33 13 8 
Total Oral, Personal and Home Care332 274 223 
Pet Nutrition147 56 41 
Corporate88 79 71 
Total Capital expenditures$567 $409 $335 

202120202019
Depreciation and amortization  
Oral, Personal and Home Care  
North America$104 $101 $94 
Latin America88 81 84 
Europe98 94 72 
Asia Pacific96 95 100 
Africa/Eurasia9 9 8 
Total Oral, Personal and Home Care395 380 358 
Pet Nutrition62 58 55 
Corporate99 101 106 
Total Depreciation and amortization$556 $539 $519 
202120202019
Identifiable assets
Oral, Personal and Home Care   
North America$4,058 $4,132 $3,576 
Latin America2,369 2,251 2,384 
Europe4,432 5,386 5,104 
Asia Pacific2,161 2,272 2,155 
Africa/Eurasia599 605 590 
Total Oral, Personal and Home Care13,619 14,646 13,809 
Pet Nutrition1,342 1,210 1,175 
Corporate(1)
79 64 50 
Total Identifiable assets$15,040 $15,920 $15,034 
____________
(1)In 2021, Corporate identifiable assets primarily consisted of investments in equity securities (87%) and derivative instruments (10%). In 2020, Corporate identifiable assets primarily consisted of investments in equity securities (95%). In 2019, Corporate identifiable assets primarily consisted of investments in equity securities (92%) and derivative instruments (2%). 

202120202019
Long-lived assets(1)
United States$1,981 $1,889 $1,895 
International2,275 2,348 2,359 
Total Long-lived assets$4,256 $4,237 $4,254 
____________
(1)Long-lived assets include Property, plant and equipment, net and lease right-of-use assets.