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Segments
 3 Months Ended
Mar. 31, 2025
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.

Segment revenues are derived from the sale of the following products:

Segment

 

 

Products/Other

 

Consumer Domestic

 

Household and personal care products

Consumer International

 

Primarily personal care products

SPD

 

Specialty Products

The Company also has equity in earnings of affiliates which is not reflected in a reportable segment. As of March 31, 2025, the Company held 50% ownership interest in Armand. The Company's 50% interest in ArmaKleen was sold to our joint venture partner in

October of 2024. The Company’s equity in earnings of Armand and ArmaKleen, totaled $1.6 and $1.1 for the three months ended March 31, 2025 and 2024, respectively.

Our reportable segments comprise the structure used by our Chief Executive Officer, who has been determined to be the Chief Operating Decision Maker ("CODM") to make key operating decisions and assess performance. The CODM considers Operating Income for evaluating performance of each segment and making decisions about allocating capital and other resources to each segment. Asset information and capital expenditures are not regularly provided to the CODM.

The following tables present financial information relating to the Company’s segments for the three months ended March 31, 2025 and 2024:

 

 

 

Three Months Ended March 31, 2025

 

 

 

Consumer Domestic

 

 

Consumer International

 

 

SPD

 

 

Consolidating Reclassification(1)

 

 

Total Consolidated

 

Net Sales

 

$

1,129.8

 

 

$

261.9

 

 

$

75.4

 

 

 

-

 

 

$

1,467.1

 

Cost of sales

 

 

597.4

 

 

 

147.3

 

 

 

46.4

 

 

 

16.4

 

 

 

807.5

 

Gross Profit

 

 

532.4

 

 

 

114.6

 

 

 

29.0

 

 

 

(16.4

)

 

 

659.6

 

Marketing expenses

 

 

107.7

 

 

 

28.0

 

 

 

0.9

 

 

 

-

 

 

 

136.6

 

Research and Development(2)

 

 

29.2

 

 

 

3.0

 

 

 

0.6

 

 

 

-

 

 

 

32.8

 

Selling, general and administrative expenses

 

 

150.7

 

 

 

45.9

 

 

 

14.7

 

 

 

(16.4

)

 

 

194.9

 

Income from Operations

 

 

244.8

 

 

 

37.7

 

 

 

12.8

 

 

 

-

 

 

 

295.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2024

 

 

 

Consumer Domestic

 

 

Consumer International

 

 

SPD

 

 

Consolidating Reclassification(1)

 

 

Total Consolidated

 

Net Sales

 

$

1,165.2

 

 

$

255.0

 

 

$

83.1

 

 

$

-

 

 

$

1,503.3

 

Cost of sales

 

 

602.3

 

 

 

144.1

 

 

 

53.3

 

 

 

16.6

 

 

 

816.3

 

Gross Profit

 

 

562.9

 

 

 

110.9

 

 

 

29.8

 

 

 

(16.6

)

 

 

687.0

 

Marketing expenses

 

 

122.0

 

 

 

29.4

 

 

 

0.6

 

 

 

-

 

 

 

152.0

 

Research and Development(2)

 

 

26.4

 

 

 

2.9

 

 

 

0.8

 

 

 

-

 

 

 

30.1

 

Selling, general and administrative expenses

 

 

157.0

 

 

 

42.7

 

 

 

16.8

 

 

 

(16.6

)

 

 

199.9

 

Income from Operations

 

 

257.5

 

 

 

35.9

 

 

 

11.6

 

 

 

-

 

 

 

305.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Reflects the administrative costs of the production planning and logistics functions which are elements of Cost of Sales in the Company’s Consolidated Statements of Income but are allocated to the operating segments in Selling, General and Administrative expenses to determine operating segment income before income taxes.
(2)
All costs for Research & Development administration, global compliance, technology support, packaging and sustainability are reported in the Consumer Domestic segment.

 

Other segment expenses for the first quarter of 2025 and the first quarter of 2024 include the following:

 

 

 

Consumer Domestic

 

 

Consumer International

 

 

SPD

 

 

Total Consolidated

 

Depreciation & Amortization

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter of 2025

 

$

51.3

 

 

$

6.7

 

 

$

2.9

 

 

$

60.9

 

First Quarter of 2024

 

 

48.4

 

 

 

6.6

 

 

 

2.6

 

 

 

57.6

 

 

 

 

 

 

 

 

 

 

 

 

Product line revenues from external customers are as follows:

 

Three Months Ended

 

 

March 31,

 

 

March 31,

 

 

2025

 

 

2024

 

Household Products

$

614.9

 

 

$

638.9

 

Personal Care Products

 

514.9

 

 

 

526.3

 

Total Consumer Domestic

 

1,129.8

 

 

 

1,165.2

 

Total Consumer International

 

261.9

 

 

 

255.0

 

Total SPD

 

75.4

 

 

 

83.1

 

Total Consolidated Net Sales

$

1,467.1

 

 

$

1,503.3

 

 

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.