XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

OPERATING SEGMENTS | 6 Months Ended
--- | ---
Jun. 30, 2024
OPERATING SEGMENTS |
OPERATING SEGMENTS | 16. OPERATING SEGMENTS ​ The Company’s organizational structure consists of global business unit and global regional leadership teams. The Company’s eight operating segments follow its commercial and product-based activities and are based on engagement in business activities, availability of discrete financial information and review of operating results by the Chief Operating Decision Maker at the identified operating segment level. ​ The Company’s operating segments that share similar economic characteristics and future prospects, nature of the products and production processes, end-use markets, channels of distribution and regulatory environment have been aggregated into four reportable segments: Global Industrial, Global Institutional & Specialty, Global Healthcare & Life Sciences and Global Pest Elimination. ​ Comparability of Reportable Segments ​ Effective January 1, 2024, the Company’s former Textile Care and Colloidal Technologies Group (“CTG”) operating segments are now part of the Water operating segment which continues to remain in the Global Industrial reportable segment. Additionally, the Pest Elimination operating segment, formerly aggregated with the Textile Care and CTG operating segments within Other, is now reported as the stand-alone Global Pest Elimination reportable segment. The Company made other immaterial changes, including the movement of certain customers and cost allocations between reportable segments. These changes are presented in "Other" columns of the table below. Prior period amounts have been recast to conform with current period presentation. ​ The Company evaluates the performance of its non-U.S. dollar functional currency international operations based on fixed currency exchange rates, which eliminates the impact of exchange rate fluctuations on its international operations. Fixed currency amounts are updated annually at the beginning of each year based on translation into U.S. dollars at foreign currency exchange rates established by management, with all periods presented using such rates. The “Fixed Currency Rate Change” column shown in the following table reflects international operations at fixed currency exchange rates established by management at the beginning of 2024, rather than the 2023 established rates. The difference between the fixed currency exchange rates and the actual currency exchange rates is reported within the “Effect of foreign currency translation” row in the following table. ​ The impact of the preceding changes on previously reported full year 2023 reportable segment net sales and operating income is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
​ | ​ | 2023 Reported | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fixed | ​ | ​ | ​ | 2023 Reported
​ | ​ | Valued at 2023 |  | ​ | ​ |  | Currency | ​ |  | Valued at 2024
(millions) | ​ | Management Rates |  | Other | ​ |  | Rate Change | ​ |  | Management Rates
Net Sales | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ |  | ​ | ​
Global Industrial | ​ | ​ | $7,193.1 | ​ | ​ | ​ | $407.3 | ​ | ​ | ​ | ​ | $40.1 | ​ | ​ | ​ | ​ | $7,640.5
Global Institutional & Specialty | ​ | ​ | 4,994.0 | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | 20.6 | ​ | ​ | ​ | ​ | 5,014.6
Global Healthcare & Life Sciences | ​ | ​ | 1,576.9 | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | 30.6 | ​ | ​ | ​ | ​ | 1,607.5
Global Pest Elimination | ​ | ​ | - | ​ | ​ | ​ | 1,061.5 | ​ | ​ | ​ | ​ | 8.7 | ​ | ​ | ​ | ​ | 1,070.2
Other | ​ | ​ | 1,442.3 | ​ | ​ | ​ | (1,442.3) | ​ | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | -
Corporate | ​ | ​ | 69.1 | ​ | ​ | ​ | (26.5) | ​ | ​ | ​ | ​ | 0.1 | ​ | ​ | ​ | ​ | 42.7
Subtotal at fixed currency rates | ​ | ​ | 15,275.4 | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | 100.1 | ​ | ​ | ​ | ​ | 15,375.5
Effect of foreign currency translation | ​ | ​ | 44.8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (100.1) | ​ | ​ | ​ | ​ | (55.3)
Consolidated reported GAAP net sales | ​ | ​ | $15,320.2 | ​ | ​ | ​ | $- | ​ | ​ | ​ | ​ | $- | ​ | ​ | ​ | ​ | $15,320.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Global Industrial | ​ | ​ | $1,080.7 | ​ | ​ | ​ | $39.0 | ​ | ​ | ​ | ​ | $2.3 | ​ | ​ | ​ | ​ | $1,122.0
Global Institutional & Specialty | ​ | ​ | 823.0 | ​ | ​ | ​ | 14.9 | ​ | ​ | ​ | ​ | 3.9 | ​ | ​ | ​ | ​ | 841.8
Global Healthcare & Life Sciences | ​ | ​ | 160.0 | ​ | ​ | ​ | (6.7) | ​ | ​ | ​ | ​ | 7.5 | ​ | ​ | ​ | ​ | 160.8
Global Pest Elimination | ​ | ​ | - | ​ | ​ | ​ | 209.0 | ​ | ​ | ​ | ​ | 1.4 | ​ | ​ | ​ | ​ | 210.4
Other | ​ | ​ | 255.0 | ​ | ​ | ​ | (255.0) | ​ | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | -
Corporate | ​ | ​ | (331.7) | ​ | ​ | ​ | (1.2) | ​ | ​ | ​ | ​ | 0.1 | ​ | ​ | ​ | ​ | (332.8)
Subtotal at fixed currency rates | ​ | ​ | 1,987.0 | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | 15.2 | ​ | ​ | ​ | ​ | 2,002.2
Effect of foreign currency translation | ​ | ​ | 5.3 | ​ | ​ | ​ | - | ​ | ​ | ​ | ​ | (15.2) | ​ | ​ | ​ | ​ | (9.9)
Consolidated reported GAAP operating income | ​ | ​ | $1,992.3 | ​ | ​ | ​ | $- | ​ | ​ | ​ | ​ | $- | ​ | ​ | ​ | ​ | $1,992.3
​ Reportable Segment Information ​ Financial information for the Company’s reportable segments, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​ | June 30 | ​
(millions) |  | 2024 | ​ | ​ | 2023 | ​ | 2024 | ​ | ​ | 2023 | ​
Net Sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Global Industrial |  | ​ | $1,956.0 | ​ | ​ | ​ | $1,906.4 | ​ | ​ | $3,797.7 | ​ | ​ | ​ | $3,714.6 | ​
Global Institutional & Specialty | ​ | ​ | 1,372.7 | ​ | ​ | ​ | 1,273.7 | ​ | ​ | 2,643.0 | ​ | ​ | ​ | 2,404.9 | ​
Global Healthcare & Life Sciences | ​ | ​ | 395.0 | ​ | ​ | ​ | 395.3 | ​ | ​ | 777.9 | ​ | ​ | ​ | 781.4 | ​
Global Pest Elimination | ​ | ​ | 297.1 | ​ | ​ | ​ | 269.7 | ​ | ​ | 563.9 | ​ | ​ | ​ | 514.3 | ​
Corporate | ​ | ​ | - | ​ | ​ | ​ | 10.6 | ​ | ​ | - | ​ | ​ | ​ | 21.3 | ​
Subtotal at fixed currency rates | ​ | ​ | 4,020.8 | ​ | ​ | ​ | 3,855.7 | ​ | ​ | 7,782.5 | ​ | ​ | ​ | 7,436.5 | ​
Effect of foreign currency translation | ​ | ​ | (35.0) | ​ | ​ | ​ | (3.6) | ​ | ​ | (44.8) | ​ | ​ | ​ | (12.8) | ​
Consolidated reported GAAP net sales |  | ​ | $3,985.8 | ​ |  | ​ | $3,852.1 | ​ | ​ | $7,737.7 | ​ | ​ | ​ | $7,423.7 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Global Industrial |  | ​ | $311.9 | ​ | ​ | ​ | $264.9 | ​ | ​ | $576.9 | ​ | ​ | ​ | $484.7 | ​
Global Institutional & Specialty | ​ | ​ | 320.7 | ​ | ​ | ​ | 213.4 | ​ | ​ | 568.7 | ​ | ​ | ​ | 343.5 | ​
Global Healthcare & Life Sciences | ​ | ​ | 33.7 | ​ | ​ | ​ | 33.2 | ​ | ​ | 70.7 | ​ | ​ | ​ | 68.6 | ​
Global Pest Elimination | ​ | ​ | 62.2 | ​ | ​ | ​ | 52.4 | ​ | ​ | 111.0 | ​ | ​ | ​ | 96.9 | ​
Corporate | ​ | ​ | (62.8) | ​ | ​ | ​ | (79.3) | ​ | ​ | (142.6) | ​ | ​ | ​ | (156.7) | ​
Subtotal at fixed currency rates | ​ | ​ | 665.7 | ​ | ​ | ​ | 484.6 | ​ | ​ | 1,184.7 | ​ | ​ | ​ | 837.0 | ​
Effect of foreign currency translation | ​ | ​ | (8.8) | ​ | ​ | ​ | 0.1 | ​ | ​ | (9.9) | ​ | ​ | ​ | (0.7) | ​
Consolidated reported GAAP operating income |  | ​ | $656.9 | ​ |  | ​ | $484.7 | ​ | ​ | $1,174.8 | ​ | ​ | ​ | $836.3 | ​
​ The profitability of the Company’s operating segments is evaluated by management based on operating income. ​ Consistent with the Company’s internal management reporting, Corporate amounts in the table above include sales to ChampionX in accordance with the transitional supply agreement entered into with the Transaction, as discussed in Note 15. Corporate also includes intangible asset amortization specifically from the Nalco and Purolite acquisitions and special (gains) and charges, as discussed in Note 3, that are not allocated to the Company’s reportable segments.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration