XML 41 R24.htm IDEA: XBRL DOCUMENT
v3.22.4

Segments | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Segments | 17. Segments Segment Information The Company operates three reportable segments: Consumer Domestic, Consumer International and Specialty Products Division. These segments are determined based on differences in the nature of products and organizational and ownership structures. The Company also has a Corporate segment. Segment revenues are derived from the sale of the following products:
Segment |  |  | Products |
Consumer Domestic |  | Household and personal care products
Consumer International |  | Primarily personal care products
SPD |  | Specialty chemical products
The Corporate segment income consists of equity in earnings of affiliates. As of December 31, 2022, the Company held 50% ownership interests in each of Armand and ArmaKleen, respectively. The Company’s equity in earnings of Armand and ArmaKleen, totaling $12.3, $9.4, and $6.7 for the three years ending December 31, 2022, 2021 and 2020, respectively, are included in the Corporate segment. Certain subsidiaries that are included in the Consumer International segment manufacture and sell personal care products to the Consumer Domestic segment. These sales are eliminated from the Consumer International segment results set forth in the table below. The following table presents selected financial information relating to the Company’s segments for each of the three years in the period ended December 31, 2022:
|  | Consumer |  |  | Consumer |  |  |  |  |  |  |  |  |  |
|  | Domestic |  |  | International |  |  | SPD |  |  | Corporate(1) |  |  | As Reported |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | 4,131.0 |  |  | $ | 896.1 |  |  | $ | 348.5 |  |  | $ | 0.0 |  |  | $ | 5,375.6 |
2021 |  |  | 3,941.9 |  |  |  | 912.2 |  |  |  | 336.0 |  |  |  | 0.0 |  |  |  | 5,190.1 |
2020 |  |  | 3,767.6 |  |  |  | 828.2 |  |  |  | 300.0 |  |  |  | 0.0 |  |  |  | 4,895.8 |
Gross profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 1,794.1 |  |  |  | 372.4 |  |  |  | 117.8 |  |  |  | (34.3 | ) |  |  | 2,250.0 |
2021 |  |  | 1,795.8 |  |  |  | 402.1 |  |  |  | 112.7 |  |  |  | (47.1 | ) |  |  | 2,263.5 |
2020 |  |  | 1,801.1 |  |  |  | 368.8 |  |  |  | 104.1 |  |  |  | (59.8 | ) |  |  | 2,214.2 |
Marketing Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 412.9 |  |  |  | 117.7 |  |  |  | 4.6 |  |  |  | 0.0 |  |  |  | 535.2 |
2021 |  |  | 442.1 |  |  |  | 131.1 |  |  |  | 4.5 |  |  |  | 0.0 |  |  |  | 577.7 |
2020 |  |  | 460.6 |  |  |  | 126.9 |  |  |  | 3.7 |  |  |  | 0.0 |  |  |  | 591.2 |
Selling, General and Administrative Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 882.1 |  |  |  | 208.5 |  |  |  | 60.7 |  |  |  | (34.3 | ) |  |  | 1,117.0 |
2021 |  |  | 445.3 |  |  |  | 135.7 |  |  |  | 72.8 |  |  |  | (47.1 | ) |  |  | 606.7 |
2020 |  |  | 455.6 |  |  |  | 128.7 |  |  |  | 68.8 |  |  |  | (59.8 | ) |  |  | 593.3 |
Income from Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 499.1 |  |  |  | 46.2 |  |  |  | 52.5 |  |  |  | 0.0 |  |  |  | 597.8 |
2021 |  |  | 908.4 |  |  |  | 135.3 |  |  |  | 35.4 |  |  |  | 0.0 |  |  |  | 1,079.1 |
2020 |  |  | 884.9 |  |  |  | 113.2 |  |  |  | 31.6 |  |  |  | 0.0 |  |  |  | 1,029.7 |
Equity in Earnings of Affiliates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 12.3 |  |  |  | 12.3 |
2021 |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 9.4 |  |  |  | 9.4 |
2020 |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 6.7 |  |  |  | 6.7 |
Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 427.3 |  |  |  | 38.8 |  |  |  | 44.9 |  |  |  | 12.3 |  |  |  | 523.3 |
2021 |  |  | 861.4 |  |  |  | 127.3 |  |  |  | 33.6 |  |  |  | 9.4 |  |  |  | 1,031.7 |
2020 |  |  | 832.4 |  |  |  | 105.0 |  |  |  | 29.7 |  |  |  | 6.7 |  |  |  | 973.8 |
Identifiable Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 6,846.9 |  |  |  | 1,060.5 |  |  |  | 332.9 |  |  |  | 105.3 |  |  |  | 8,345.6 |
2021 |  |  | 6,354.5 |  |  |  | 1,192.9 |  |  |  | 332.7 |  |  |  | 116.4 |  |  |  | 7,996.5 |
2020 |  |  | 5,819.8 |  |  |  | 1,144.5 |  |  |  | 339.7 |  |  |  | 110.5 |  |  |  | 7,414.5 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 159.1 |  |  |  | 10.0 |  |  |  | 9.7 |  |  |  | 0.0 |  |  |  | 178.8 |
2021 |  |  | 100.3 |  |  |  | 8.4 |  |  |  | 10.1 |  |  |  | 0.0 |  |  |  | 118.8 |
2020 |  |  | 81.8 |  |  |  | 7.1 |  |  |  | 10.0 |  |  |  | 0.0 |  |  |  | 98.9 |
Depreciation & Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  |  | 172.1 |  |  |  | 30.1 |  |  |  | 13.8 |  |  |  | 3.0 |  |  |  | 219.0 |
2021 |  |  | 170.0 |  |  |  | 31.1 |  |  |  | 15.4 |  |  |  | 2.6 |  |  |  | 219.1 |
2020 |  |  | 142.8 |  |  |  | 29.6 |  |  |  | 14.5 |  |  |  | 2.8 |  |  |  | 189.7 |
(1) Corporate reflects the follo wing: (A) The administrative costs of the production planning and logistics functions are included in segment Selling, General and Administrative expenses but are elements of Cost of Sales in the Company’s Consolidated Statements of Income. Such amounts were $34.3, $47.1, and $59.8 for 2022, 2021 and 2020, respectively. (B) Equity in earnings (loss) of affiliates from Armand and ArmaKleen for the year ended December 31, 2022, 2021 and 2020. (C) Corporate assets include deferred compensation investments and the Company's investment in unconsolidated affiliates. Other than the differences noted in the footnote above, the accounting policies followed by each of the segments, including intersegment transactions, are substantially consistent with the accounting policies described in Note 1. Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table above, were $15.1, $10.8 and $11.7 for the twelve months ended December 31, 2022, 2021 and 2020, respectively. Product line revenues from external customers for each of the three years ended December 31, 2022, 2021 and 2020 were as follows:
|  | 2022 |  |  | 2021 |  |  | 2020 |
Household Products |  | $ | 2,272.0 |  |  | $ | 2,103.0 |  |  | $ | 2,038.5 |
Personal Care Products |  |  | 1,859.0 |  |  |  | 1,838.9 |  |  |  | 1,729.1 |
Total Consumer Domestic |  |  | 4,131.0 |  |  |  | 3,941.9 |  |  |  | 3,767.6 |
Total Consumer International |  |  | 896.1 |  |  |  | 912.2 |  |  |  | 828.2 |
Total SPD |  |  | 348.5 |  |  |  | 336.0 |  |  |  | 300.0 |
Total Consolidated Net Sales |  | $ | 5,375.6 |  |  | $ | 5,190.1 |  |  | $ | 4,895.8 |
Household Products include laundry, deodorizing, and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin care products, hair care products and gummy dietary supplements. Geographic Information Approximately 83%, 82% and 83% of the net sales reported in the accompanying consolidated financial statements in 2022, 2021 and 2020, respectively, were to customers in the U.S. Approximately 97%, 96% and 96% of long-lived assets were located in the U.S. at December 31, 2022, 2021 and 2020, respectively. Other than the U.S., no one country accounts for more than 5% of consolidated net sales and 5% of total assets. Customers A group of four customers accounted for approximately 42% of consolidated net sales in 2022. A group of three customers accounted for approximately 37% of consolidated net sales in 2021 and 36% in 2020, of which a single customer (Walmart Inc. and its affiliates) accounted for approximately 24%, 24% and 23% in 2022, 2021 and 2020, respectively.

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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration