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SEGMENT RESULTS
 9 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT RESULTS SEGMENT RESULTS
The Company operates through strategic business units (SBUs) which are organized into operating segments. Operating segments are then aggregated into four reportable segments: Health and Wellness, Household, Lifestyle and International. Operating segments not aggregated into a reportable segment are reflected in Corporate and Other.
Corporate and Other includes certain non-allocated administrative costs and various other non-operating income and expenses, as well as the results of the Vitamins, Minerals and Supplements (VMS) business. Assets in Corporate and Other include cash and cash equivalents, prepaid expenses and other current assets, property and equipment, operating lease right-of-use assets, other long-term assets and deferred taxes, as well as the assets related to the VMS business.
The principle measure of segment profitability used by management is segment adjusted earnings (losses) before interest and income taxes (segment adjusted EBIT). Segment adjusted EBIT is defined as earnings (losses) before income taxes excluding interest income, interest expense and other significant items that are nonrecurring or unusual (such as the pension settlement charge, incremental charges relating to the cyberattack, asset impairments, charges related to the streamlined operating model, charges related to the digital capabilities and productivity enhancements investment, significant losses/(gains) related to acquisitions / divestitures and other nonrecurring or unusual items impacting comparability).
The tables below present reportable segment information and a reconciliation of the segment information to the Company’s consolidated net sales and earnings (losses) before income taxes, with amounts that are not allocated to the reportable segments reflected in Corporate and Other.
Net sales
Three months endedNine months ended
3/31/20243/31/20233/31/20243/31/2023
Health and Wellness$609 $647 $1,833 $1,881 
Household526 550 1,353 1,435 
Lifestyle315 353 947 1,005 
International310 305 891 876 
Corporate and Other54 60 166 173 
Total$1,814 $1,915 $5,190 $5,370 
Segment adjusted EBIT
Three months endedNine months ended
3/31/20243/31/20233/31/20243/31/2023
Health and Wellness$154 $161 $517 $418 
Household74 99 162 165 
Lifestyle64 83 192 217 
International38 27 104 74 
Corporate and Other(70)(101)(238)(251)
Total$260 $269 $737 $623 
Interest income4 4 21 9 
Interest expense(22)(24)(69)(69)
Loss on divestiture (1)
(240)— (240)— 
Pension settlement charge (2)
— — (171)— 
Cyberattack costs (3)
(8)— (57)— 
VMS impairment (4)
— (445)— (445)
Streamlined operating model (5)
(10)(21)(13)(44)
Digital capabilities and productivity enhancements investment (6)
(26)(28)(85)(73)
Earnings (losses) before income taxes
$(42)$(245)$123 $1 
(1)Represents loss on divestiture of the Argentina business corresponding to International. See Note 2 for additional details related to the divestiture.
(2)Represents costs related to the settlement of the domestic qualified pension plan corresponding to Corporate and Other. See Note 14 for additional details relating to the pension settlement.
(3)Represents incremental costs related to the cyberattack of $8 and $57 for the three and nine months ended March 31, 2024, respectively. See Note 3 for additional details relating to the cyberattack. For informational purposes, the following table provides the approximate cyberattack costs corresponding to the Company’s reportable segments as a percentage of total costs:
Three months endedNine months ended
3/31/20243/31/2024
Health and Wellness18 %15 %
Household12 11 
Lifestyle— 11 
International— 4 
Corporate and Other70 59 
Total100 %100 %
(4)Represents noncash impairment charge of $445 related to the VMS business recorded in both the three and nine months ended March 31, 2023. See Note 7 for additional details relating to the impairment.
(5)Represents restructuring and related implementation costs, net for the streamlined operating model of $10 and $13 for the three and nine months ended March 31, 2024, respectively and $21 and $44 for the three and nine months ended March 31, 2023, respectively. For informational purposes, the following table provides the approximate restructuring and related implementation costs, net corresponding to the Company’s reportable segments as a percentage of the total costs:
Three months endedNine months endedInception to date ended
3/31/20243/31/20233/31/20243/31/20233/31/2024
Health and Wellness4 %7 %4 %6 %5 %
Household— 4 — 2 1 
Lifestyle— 2 — 3 3 
International— 21 — 19 13 
Corporate and Other96 66 96 70 78 
Total100 %100 %100 %100 %100 %
(6)Represents expenses related to the Company’s digital capabilities and productivity enhancements investment corresponding to Corporate and Other.
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 Inc. and its affiliates, as a percentage of consolidated net sales, were 25% for both the three and nine months ended March 31, 2024 and 26% for both the three and nine months ended March 31, 2023.
The following table provides Net sales as a percentage of the Company’s consolidated net sales, disaggregated by operating segment, for the periods indicated:
Net sales
Three months endedNine months ended
3/31/20243/31/20233/31/20243/31/2023
Cleaning29 %30 %30 %30 %
Professional Products5 4 5 5 
Health and Wellness34 %34 %35 %35 %
Bags and Wraps12 12 12 12 
Cat Litter8 9 9 9 
Grilling9 8 6 6 
Household29 %29 %27 %27 %
Food10 10 10 11 
Natural Personal Care3 4 4 4 
Water Filtration4 4 4 4 
Lifestyle17 %18 %18 %19 %
International17 %16 %17 %16 %
Corporate and Other3 %3 %3 %3 %
Total100 %100 %100 %100 %