SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We have identified two reportable segments based on geographic operations: Avon International and Avon Latin America.

We determine segment profit by deducting the related costs and expenses from segment revenue. Segment profit includes an allocation of central expenses to the extent they support the operating activity of the segment. Segment profit excludes certain costs to implement ("CTI") restructuring initiatives, certain significant asset impairment charges, and other expenses, which are not allocated to a particular segment, if applicable. This is consistent with the manner in which we assess our performance and allocate resources.

Summarized financial information concerning our reportable segments was as follows:

	Three Months Ended March 31,
Total Revenue	2023		2022
Avon International	$	309.1	$	353.3
Avon Latin America	267.7		306.3
Total revenue from reportable segments(1)	576.8		659.6
Revenue from affiliates to Natura &Co	13.7		3.7
Total revenue	590.5		663.3

	Three Months Ended March 31,
Operating Loss	2023		2022
Segment profit/(loss)
Avon International	$	2.6	$	(.9)
Avon Latin America	(12.1)		(44.6)
Total profit (loss) from reportable segments(2)	$	(9.5)	$	(45.5)
Unallocated global expenses(3)	(8.6)		(5.9)
CTI restructuring initiatives	(16.6)		(10.8)
Impairment of goodwill(4)	(9.1)		—
Operating loss	$	(43.8)	$	(62.2)

(1)Total revenue also includes revenue from other business activities of $0.1 and $0.1 for the three months ended March 31, 2023 and 2022, 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 $0.1 and $0.1 for the three months ended March 31, 2023 and 2022, 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 $24.4 and $29.0 for the three months ended March 31, 2023 and 2022, 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 months ended March 31, 2023 and 2022, unallocated global expenses primarily include stewardship and other expenses not directly attributable to reportable segments.

(4)At March 31, 2023 the Colombia business goodwill was assessed for impairment. See further details in Note 12, Goodwill.