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SEGMENT REPORTING | 12 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company operates through strategic business units (SBU) that are aggregated into the following four reportable segments based on the economics and nature of the products sold:
• | Cleaning consists of laundry, home care and professional products marketed and sold in the United States. Products within this segment include laundry additives, such as bleach products under the Clorox® brand and Clorox 2® stain fighter and color booster; home care products, primarily under the Clorox®, Formula 409®, Liquid-Plumr®, Pine-Sol®, S.O.S® and Tilex® brands; naturally derived products under the Green Works® brand; and professional cleaning, disinfecting and food service products under the CloroxPro™, Dispatch®, Clorox Healthcare®, Hidden Valley® and KC Masterpiece® brands.
• | Household consists of charcoal, bags, wraps and containers, cat litter, and digestive health products marketed and sold in the United States. Products within this segment include charcoal products under the Kingsford® and Match Light® brands; bags, wraps and containers under the Glad® brand; cat litter products under the Fresh Step®, Scoop Away® and Ever Clean® brands; and digestive health products under the RenewLife® brand.
• | Lifestyle consists of food products, water-filtration systems and filters, natural personal care products, and dietary supplements mainly marketed and sold in the United States. Products within this segment include dressings and sauces, primarily under the Hidden Valley®, KC Masterpiece®, Kingsford® and Soy Vay® brands; water-filtration systems and filters under the Brita® brand; natural personal care products under the Burt’s Bees® brand; and dietary supplements under the Rainbow Light®, Natural Vitality™, and NeoCell® brands.
• | International consists of products sold outside the United States. Products within this segment include laundry; home care; water-filtration systems and filters; digestive health products; charcoal; cat litter products; food products; bags, wraps and containers; natural personal care products; and professional cleaning and disinfecting products, primarily under the Clorox®, Glad®, PinoLuz®, Ayudin®, Limpido®, Clorinda®, Poett®, Mistolin®, Lestoil®, Bon Bril®, Brita®, Green Works®, Pine-Sol®, Agua Jane®, Chux®, RenewLife®, Kingsford®, Fresh Step®, Scoop Away®, Ever Clean®, KC Masterpiece®, Hidden Valley®, Burt’s Bees®, CloroxPro™, and Clorox Healthcare® brands.
Certain non-allocated administrative costs, interest income, interest expense and various other non-operating income and expenses are reflected in Corporate. Corporate assets include cash and cash equivalents, prepaid expenses and other current assets, property and equipment, other investments and deferred taxes.
| Fiscal Year |  | Cleaning |  | Household |  | Lifestyle |  | International |  | Corporate |  | Total Company
Net sales | 2019 |  | $ | 2,109 |  |  | $ | 1,870 |  |  | $ | 1,265 |  |  | $ | 970 |  |  | $ | — |  |  | $ | 6,214 |
| 2018 |  | 2,060 |  |  | 1,959 |  |  | 1,077 |  |  | 1,028 |  |  | — |  |  | 6,124 |
| 2017 |  | 2,002 |  |  | 1,961 |  |  | 1,000 |  |  | 1,010 |  |  | — |  |  | 5,973 |
Earnings (losses) from continuing operations before income taxes | 2019 |  | 600 |  |  | 316 |  |  | 255 |  |  | 96 |  |  | (243 | ) |  | 1,024 |
| 2018 |  | 574 |  |  | 370 |  |  | 243 |  |  | 84 |  |  | (217 | ) |  | 1,054 |
| 2017 |  | 523 |  |  | 419 |  |  | 244 |  |  | 81 |  |  | (234 | ) |  | 1,033 |
Income from equity investees | 2019 |  | — |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
| 2018 |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
| 2017 |  | — |  |  | — |  |  | — |  |  | 19 |  |  | — |  |  | 19 |
Total assets | 2019 |  | 903 |  |  | 1,223 |  |  | 1,581 |  |  | 1,027 |  |  | 382 |  |  | 5,116 |
| 2018 |  | 902 |  |  | 1,223 |  |  | 1,533 |  |  | 1,045 |  |  | 357 |  |  | 5,060 |
Capital expenditures | 2019 |  | 49 |  |  | 81 |  |  | 39 |  |  | 26 |  |  | 11 |  |  | 206 |
| 2018 |  | 60 |  |  | 73 |  |  | 22 |  |  | 33 |  |  | 6 |  |  | 194 |
| 2017 |  | 76 |  |  | 82 |  |  | 30 |  |  | 37 |  |  | 6 |  |  | 231 |
Depreciation and amortization | 2019 |  | 52 |  |  | 67 |  |  | 31 |  |  | 25 |  |  | 5 |  |  | 180 |
| 2018 |  | 49 |  |  | 65 |  |  | 23 |  |  | 24 |  |  | 5 |  |  | 166 |
| 2017 |  | 51 |  |  | 64 |  |  | 20 |  |  | 22 |  |  | 6 |  |  | 163 |
Significant non-cash charges included in earnings (losses) from continuing operations before income taxes:
Stock-based compensation | 2019 |  | 14 |  |  | 12 |  |  | 7 |  |  | 1 |  |  | 9 |  |  | 43 |
| 2018 |  | 13 |  |  | 12 |  |  | 7 |  |  | 1 |  |  | 20 |  |  | 53 |
| 2017 |  | 16 |  |  | 15 |  |  | 9 |  |  | 2 |  |  | 9 |  |  | 51 |
All intersegment sales are eliminated and are not included in the Company’s reportable segments’ net sales. Net sales to the Company’s largest customer, Walmart Stores, Inc. and its affiliates, were 25%, 26% and 26% of consolidated net sales for each of the fiscal years ended June 30, 2019, 2018 and 2017, respectively, and occurred across all of the Company’s reportable segments. No other customers accounted for 10% or more of the Company’s consolidated net sales in any of these fiscal years. The following table provides Net sales as a percentage of the Company’s consolidated net sales, disaggregated by SBU, for the fiscal years ended June 30:
|  | 2019 |  | 2018 |  | 2017
Home care |  | 19 | % |  | 19 | % |  | 19 | %
Laundry |  | 9 | % |  | 9 | % |  | 9 | %
Professional products |  | 6 | % |  | 6 | % |  | 6 | %
Cleaning |  | 34 | % |  | 34 | % |  | 34 | %
Bags, wraps, and containers |  | 13 | % |  | 14 | % |  | 14 | %
Charcoal |  | 8 | % |  | 9 | % |  | 10 | %
Cat litter |  | 7 | % |  | 7 | % |  | 7 | %
Digestive health |  | 2 | % |  | 2 | % |  | 2 | %
Household |  | 30 | % |  | 32 | % |  | 33 | %
Food products |  | 9 | % |  | 9 | % |  | 9 | %
Natural personal care |  | 5 | % |  | 4 | % |  | 4 | %
Water filtration |  | 3 | % |  | 3 | % |  | 3 | %
Dietary supplements (1) |  | 3 | % |  | 1 | % |  | — | %
Lifestyle |  | 20 | % |  | 17 | % |  | 16 | %
International |  | 16 | % |  | 17 | % |  | 17 | %
Total |  | 100 | % |  | 100 | % |  | 100 | %
(1) The dietary supplements business was acquired in April 2018. See Note 2 for details. The Company’s products are marketed and sold globally. The following table provides the Company’s global product lines, which were sold in the U.S. (including Professional products SBU) and International, that accounted for 10% or more of consolidated net sales for the fiscal years ended June 30:
| 2019 |  | 2018 |  | 2017
Home Care products | 26 | % |  | 26 | % |  | 25 | %
Bags, wraps and containers | 16 | % |  | 18 | % |  | 18 | %
Laundry additives | 14 | % |  | 15 | % |  | 15 | %
Food products | 10 | % |  | 10 | % |  | 10 | %
Charcoal products | 9 | % |  | 10 | % |  | 11 | %
Net sales and property, plant and equipment, net, by geographic area as of and for the fiscal years ended June 30 were as follows:
| Fiscal Year |  | United States |  | Foreign |  | Total Company
Net sales | 2019 |  | $ | 5,281 |  |  | $ | 933 |  |  | $ | 6,214 |
| 2018 |  | 5,135 |  |  | 989 |  |  | 6,124 |
| 2017 |  | 5,001 |  |  | 972 |  |  | 5,973 |
Property, plant and equipment, net | 2019 |  | 929 |  |  | 105 |  |  | 1,034 |
| 2018 |  | 887 |  |  | 109 |  |  | 996 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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