XML 41 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
SEGMENT INFORMATION
 6 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s organizational structure consists of two geographic based reportable segments: North America and International, which are also the operating segments. This structure is in line with how the Company’s Chief Operating Decision Maker (“CODM”) assesses the Company’s performance and allocates resources. The Company uses segment net sales and segment Adjusted EBITDA in order to analyze segment results and trends.

Segment Adjusted EBITDA excludes: net interest expense, (benefit) provision for income taxes, depreciation and amortization, equity in net loss of equity-method investees, stock-based compensation, net, unrealized currency (gains) losses, certain litigation and related costs, plant closure related costs-net, productivity and transformation costs, warehouse and manufacturing consolidation and other costs, costs associated with acquisitions, divestitures and other transactions, (gain) loss on sale of assets, certain inventory write-downs related to exited categories, long-lived asset impairments and other adjustments. In addition, Segment Adjusted EBITDA does not include Corporate and Other expenses related to the Company’s centralized administrative functions, which do not specifically relate to a reportable segment. Such Corporate and Other expenses are comprised mainly of compensation and related expenses of certain of the Company’s senior executive officers and other employees who perform duties related to the entire enterprise, litigation expense and expenses for certain professional fees, facilities, and other items which benefit the Company as a whole.
The following tables set forth financial information about each of the Company’s reportable segments. Information about total assets by segment is not disclosed because such information is not reported to or used by the Company’s CODM for purposes of assessing segment performance or allocating resources. Transactions between reportable segments were insignificant for all periods presented.
Three Months Ended December 31,Six Months Ended December 31,
2023202220232022
Net Sales:
North America$267,671 $282,361 $527,725 $570,757 
International 186,429 171,847 351,404 322,802 
$454,100 $454,208 $879,129 $893,559 
Adjusted EBITDA:
North America$31,218 $38,510 $49,945 $69,291 
International25,969 19,242 43,407 34,189 
Total Reportable Segments Adjusted EBITDA57,187 57,752 93,352 103,480 
Corporate and Other(10,061)(7,935)(22,136)(17,634)
47,126 49,817 71,216 85,846 
Depreciation and amortization(11,197)(12,155)(23,502)(24,125)
Equity in net loss of equity-method investees(907)(316)(1,405)(698)
Interest expense, net(15,333)(10,379)(27,956)(17,658)
Benefit (provision) for income taxes4,249 (6,357)9,628 (8,988)
Stock-based compensation, net(3,376)(3,435)(7,118)(7,429)
Unrealized currency gains (losses)194 (2,160)159 (449)
Certain litigation expenses, net(a)
(2,091)(2,482)(3,615)(4,945)
Restructuring activities
Productivity and transformation costs(6,869)(986)(13,272)(1,759)
Plant closure related costs, net(2,302)(53)(4,143)(51)
Warehouse/manufacturing consolidation and other costs, net(811)1,972 (811)1,972 
CEO succession— (5,113)— (5,113)
Acquisitions, divestitures and other
Transaction and integration costs, net(109)(402)(227)(1,769)
Gain (loss) on sale of assets— 3,355 (62)3,395 
Impairment charges
Long-lived asset impairment(20,666)(340)(21,360)(340)
Inventory write-downs related to exited categories(1,443)— (1,443)— 
Net (loss) income$(13,535)$10,966 $(23,911)$17,889 

(a) Expenses and items relating to securities class action and baby food litigation.
The Company’s net sales by geographic region, which are generally based on the location of the Company’s subsidiaries, are as follows:
Three Months Ended December 31,Six Months Ended December 31,
2023202220232022
United States$239,324 $255,056 $469,983 $514,564 
United Kingdom138,628 123,578 259,679 232,738 
Europe47,801 48,268 91,725 90,063 
Canada28,347 27,306 57,742 56,194 
$454,100 $454,208 $879,129 $893,559 

There has been no material change to Company’s total assets by segment from the amount disclosed in the Form 10-K for the fiscal year ended June 30, 2023.