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Segments
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segments
18.
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 structure. 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 June 30, 2023, the Company held 50% ownership interests in each of Armand and ArmaKleen, respectively. The Company’s equity in earnings of Armand and ArmaKleen, totaled $2.0 and $3.9 for the three months ended June 30, 2023 and 2022, respectively, and $6.4 and $6.3 for the six months ended June 30, 2023 and 2022, 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.

Segment net sales and income before income taxes are as follows:

 

 

Consumer

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

 

International

 

 

SPD

 

 

Corporate(3)

 

 

Total

 

Net Sales(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2023

$

1,128.2

 

 

$

241.9

 

 

$

84.1

 

 

$

0.0

 

 

$

1,454.2

 

Second Quarter 2022

 

1,004.7

 

 

 

230.5

 

 

 

89.9

 

 

 

0.0

 

 

 

1,325.1

 

First Six Months of 2023

$

2,245.1

 

 

$

472.5

 

 

$

166.4

 

 

$

0.0

 

 

$

2,884.0

 

First Six Months of 2022

 

1,999.8

 

 

 

445.1

 

 

 

177.4

 

 

 

0.0

 

 

 

2,622.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before Income Taxes(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2023

$

230.7

 

 

$

27.5

 

 

$

9.2

 

 

$

2.0

 

 

$

269.4

 

Second Quarter 2022

 

201.7

 

 

 

28.5

 

 

 

12.4

 

 

 

3.9

 

 

 

246.5

 

First Six Months of 2023

$

459.4

 

 

$

56.4

 

 

$

16.0

 

 

$

6.4

 

 

$

538.2

 

First Six Months of 2022

 

424.4

 

 

 

58.1

 

 

 

23.9

 

 

 

6.3

 

 

 

512.7

 

 

(1)
Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $3.4 and $3.8 for the three months ended June 30, 2023 and June 30, 2022, respectively, and were $7.0 and $8.6 for the six months ended June 30, 2023 and June 30, 2022, respectively.
(2)
In determining income before income taxes, interest expense, investment earnings and certain aspects of other income and expense were allocated among segments based upon each segment’s relative income from operations.
(3)
The Corporate segment consists of equity in earnings of affiliates from Armand and ArmaKleen for the three and six months ended June 30, 2023 and June 30, 2022.

 

Product line revenues from external customers are as follows:

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Household Products

$

619.2

 

 

$

572.8

 

 

$

1,220.8

 

 

$

1,093.3

 

Personal Care Products

 

509.0

 

 

 

431.9

 

 

 

1,024.3

 

 

 

906.5

 

Total Consumer Domestic

 

1,128.2

 

 

 

1,004.7

 

 

 

2,245.1

 

 

 

1,999.8

 

Total Consumer International

 

241.9

 

 

 

230.5

 

 

 

472.5

 

 

 

445.1

 

Total SPD

 

84.1

 

 

 

89.9

 

 

 

166.4

 

 

 

177.4

 

Total Consolidated Net Sales

$

1,454.2

 

 

$

1,325.1

 

 

$

2,884.0

 

 

$

2,622.3

 

 

Household Products include laundry, deodorizing and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin care and hair care products, cold and remedy products, and gummy dietary supplements.