SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Total Revenue

Summarized financial information concerning our reportable segments was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
Total Revenue	2022		2021		2022		2021
Avon International**	$	314.9	$	392.6	$	1,025.8	$	1,239.9
Avon Latin America*	343.3		369.2		997.3		1,326.9
Total revenue from reportable segments*(1)	658.2		761.8		2,023.1		2,566.8
Revenue from affiliates to Natura &Co	5.7		6.5		17.3		22.9
Total revenue*(1)(4)	663.9		768.3		2,040.4		2,589.7

Schedule of Operating Loss

	Three Months Ended September 30,				Nine Months Ended September 30,
Operating Loss	2022		2021		2022		2021
Segment profit/(loss)
Avon International**	$	5.2	$	2.0	$	29.2	$	(4.4)
Avon Latin America*	(26.7)		(4.1)		(103.6)		8.9
Total profit (loss) from reportable segments*(2)(4)	$	(21.5)	$	(2.1)	$	(74.4)	$	4.5
Unallocated global expenses(3)	(4.9)		(4.2)		(17.1)		(17.1)
Certain Brazil taxes*(5)	—		(1.7)		—		(1.7)
CTI restructuring initiatives	(22.9)		(10.9)		(49.2)		(60.8)
Operating loss*(4)	$	(49.3)	$	(18.9)	$	(140.7)	$	(75.1)

*The three month periods ended September 30, 2022 and September 30, 2021 include certain Brazil indirect taxes which resulted in an approximate cost of $10 and benefit of $12, respectively. The nine month periods ended September 30, 2022 and September 30, 2021 include the impact of certain Brazil indirect taxes which resulted in an approximate cost of $10 and benefit of $22, respectively. All amounts were recorded as product sales in our Consolidated Income Statements. See Note 10, Supplemental Balance Sheet Information, to the Consolidated Financial Statements contained herein for further information.

** In June 2022, an Avon subsidiary concluded the negotiation of a settlement agreement to resolve a breach of contract dispute in Japan. As a result, Avon received cash compensation of $27.0 million, $3.3 million of which related to the settlement of historically recognized revenues. The remaining $23.7 million was recognized as revenue in the quarter ended June 30, 2022.

(1)Total revenue also includes revenue from other business activities of $.1 and $.2 for the three months ended September 30, 2022 and 2021, and $.4 and $4.5 for the nine months ended September 30, 2022 and 2021, respectively, allocated to Avon International and Avon Latin America segments. Other business activities include revenue from the sale of products to New Avon since the separation of the Company’s North America business into New Avon on March 1, 2016 and ongoing royalties from the licensing of our name and products.

(2)Total profit (loss) from reportable segments also includes profit from other business activities and central expenses allocated to Avon International and Avon Latin America segments. Other business activities of $.2 and $.2 for the three months ended September 30, 2022 and 2021, and $.4 and $.6 for the nine months ended September 30, 2022 and 2021 respectively, include profit from the sale of products to New Avon since the separation of the Company’s North America business into New Avon on March 1, 2016 and ongoing royalties from the licensing of our name and products. Central expenses of $26.9 and $56.2 for the three months ended September 30, 2022 and 2021, and $83.2 and $172.2 for the nine months ended September 30, 2022 and 2021 respectively, include corporate general and administrative expenses allocated to Avon International and Avon Latin America to the extent they support the operating activity of the segment.

(3)For the three and nine months ended September 30, 2022 and 2021, unallocated global expenses primarily include stewardship and other expenses not directly attributable to reportable segments.

(4)On July 1, 2021, the Company sold Avon Luxembourg, including our Mexican business, to a subsidiary of Natura &Co Holding. As a result, from the same date, the results of Avon Luxembourg are no longer included within Avon's consolidated results. The nine-month period ended September 30, 2021 includes the results of Avon Luxembourg for the period from January 1 to June 30, 2021.

(5)The three- and nine-month periods ended September 30, 2022 include the impact of certain Brazil taxes in the amount of nil. The three- and nine-month periods ended September 30, 2021 includes the impact of certain Brazil taxes in the amount of approximately $2 and $2, respectively which were recorded in selling, general and administrative expenses, net.