Segment Information

9 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

18.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, income taxes, depreciation and amortization, equity in net loss of equity-method investees, stock-based compensation, net, unrealized currency losses, certain litigation and related costs, plant closure related costs, net, productivity and transformation costs, costs associated with acquisitions, divestitures and other transactions, loss on sale of assets, impairment of goodwill, intangibles and long-lived assets 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 March 31,						Nine Months Ended March 31,
	2025			2024			2025			2024
Net Sales:
North America	$	222,407		$	268,107		$	682,836		$	795,832
International		167,944			170,251			513,596			521,655
	$	390,351		$	438,358		$	1,196,432		$	1,317,487
Adjusted EBITDA:
North America	$	17,306		$	27,883		$	55,072		$	77,828
International		22,166			24,547			65,062			67,953
Total Reportable Segments Adjusted EBITDA		39,472			52,430			120,134			145,781
Corporate and Other		(5,857	)		(8,668	)		(26,251	)		(30,803	)
		33,615			43,762			93,883			114,978
Depreciation and amortization		(10,455	)		(10,858	)		(32,902	)		(34,360	)
Equity in net loss of equity-method investees		(966	)		(966	)		(1,709	)		(2,371	)
Interest expense, net		(11,096	)		(13,322	)		(36,084	)		(41,278	)
Benefit (provision) for income taxes		505			(5,100	)		(5,746	)		4,528
Stock-based compensation, net		(2,973	)		(3,017	)		(9,422	)		(10,135	)
Unrealized currency losses		(1,137	)		(250	)		(707	)		(91	)
Certain litigation expenses, net(a)		(407	)		(458	)		(2,254	)		(4,073	)
Restructuring activities
Productivity and transformation costs		(7,289	)		(7,175	)		(16,497	)		(20,447	)
Plant closure related costs, net		5			(1,145	)		(1,229	)		(5,288	)
Warehouse/manufacturing consolidation and other costs, net		(384	)		(184	)		(384	)		(995	)
Acquisitions, divestitures and other
Gain (loss) on sale of assets		106			—			(2,202	)		(62	)
Transaction and integration costs, net		151			(55	)		574			(282	)
Impairment charges
Goodwill impairment		(110,251	)		—			(201,518	)		—
Long-lived asset and intangibles impairment		(24,012	)		(49,426	)		(42,029	)		(70,786	)
Other		—			—			—			(1,443	)
Net loss	$	(134,588	)	$	(48,194	)	$	(258,226	)	$	(72,105	)

(a)Expenses and items relating to securities class action, baby food litigation and SEC investigation.

The Company’s net sales by product category are as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
Snacks	$	88,506	$	111,157	$	277,688		342,118
Baby & Kids		59,896		64,317		182,225		188,458
Beverages		62,874		68,384		189,364		197,116
Meal preparation		162,266		165,675		499,311		513,004
Personal care		16,809		28,825		47,844		76,791
	$	390,351	$	438,358	$	1,196,432	$	1,317,487

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 March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
United States	$	195,725	$	240,175	$	601,825	$	710,158
United Kingdom		123,256		123,500		380,615		383,179
Western Europe		44,688		46,751		132,981		138,476
Canada		26,682		27,932		81,011		85,674
	$	390,351	$	438,358	$	1,196,432	$	1,317,487

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, 2024.