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SEGMENT RESULTS | 9 Months Ended
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Mar. 31, 2026
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 and other costs and various other non-operating income and expenses, as well as the results of the Better Health VMS business through the date of divestiture. 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. The principal measure of segment profitability used by the Chief Operating Decision Maker (CODM), identified as the Company's Chair and Chief Executive Officer, 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 and insurance recoveries related to the August 2023 cyberattack, asset impairments, charges related to the digital capabilities and productivity enhancements investment, transaction and integration costs related to acquisitions, significant losses related to divestitures and other nonrecurring or unusual items impacting comparability). The CODM uses this measure to assess the operating results and performance of its segments, monitor actual results as compared to plan, perform analytical comparisons, identify strategies to improve performance and allocate resources to each segment as it removes the impact of the items that management believes do not directly reflect the performance of each segment’s underlying operations. Net sales by segment and a reconciliation to the Company’s consolidated net sales for the three and nine months ended March 31:
|  | Net sales
|  | Three months ended |  | Nine months ended
|  | 3/31/2026 |  | 3/31/2025 |  | 3/31/2026 |  | 3/31/2025
Health and Wellness |  | $ | 629 |  |  | $ | 630 |  |  | $ | 1,837 |  |  | $ | 1,956 |
Household |  | 482 |  |  | 469 |  |  | 1,263 |  |  | 1,362 |
Lifestyle |  | 277 |  |  | 306 |  |  | 843 |  |  | 964 |
International |  | 285 |  |  | 263 |  |  | 832 |  |  | 796 |
Reportable segment total |  | $ | 1,673 |  |  | $ | 1,668 |  |  | $ | 4,775 |  |  | $ | 5,078 |
Corporate and Other |  | (3) |  |  | — |  |  | (3) |  |  | 38 |
Total |  | $ | 1,670 |  |  | $ | 1,668 |  |  | $ | 4,772 |  |  | $ | 5,116 |
All intersegment sales are eliminated and are not included in the Company’s reportable segments’ net sales. Segment adjusted EBIT, including the significant segment expense provided to the CODM, and a reconciliation to earnings before income taxes for the three and nine months ended March 31:
| Segment adjusted earnings (losses) before interest and income taxes
| Three months ended March 31, 2026
| Health and Wellness |  | Household |  | Lifestyle |  | International |  | Total
Net sales | $ | 629 |  |  | $ | 482 |  |  | $ | 277 |  |  | $ | 285 |  |  |
Cost of products sold | 319 |  |  | 316 |  |  | 146 |  |  | 177 |  |  |
Other segment items (1) | 152 |  |  | 92 |  |  | 71 |  |  | 72 |  |  |
Segment adjusted EBIT | $ | 158 |  |  | $ | 74 |  |  | $ | 60 |  |  | $ | 36 |  |  | $ | 328 |
Corporate and Other |  |  |  |  |  |  |  |  | (32) |
Interest income |  |  |  |  |  |  |  |  | 4 |
Interest expense |  |  |  |  |  |  |  |  | (27) |
Acquisition and integration costs (2) |  |  |  |  |  |  |  |  | (7) |
Digital capabilities and productivity enhancements investment (3) |  |  |  |  |  |  |  |  | (10) |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 256 |
| Segment adjusted earnings (losses) before interest and income taxes
| Nine months ended March 31, 2026
| Health and Wellness |  | Household |  | Lifestyle |  | International |  | Total
Net sales | $ | 1,837 |  |  | $ | 1,263 |  |  | $ | 843 |  |  | $ | 832 |  |  |
Cost of products sold | 919 |  |  | 858 |  |  | 430 |  |  | 530 |  |  |
Other segment items (1) | 446 |  |  | 282 |  |  | 243 |  |  | 216 |  |  |
Segment adjusted EBIT | $ | 472 |  |  | $ | 123 |  |  | $ | 170 |  |  | $ | 86 |  |  | $ | 851 |
Corporate and Other |  |  |  |  |  |  |  |  | (139) |
Interest income |  |  |  |  |  |  |  |  | 7 |
Interest expense |  |  |  |  |  |  |  |  | (75) |
Acquisition and integration costs (2) |  |  |  |  |  |  |  |  | (7) |
Digital capabilities and productivity enhancements investment (3) |  |  |  |  |  |  |  |  | (59) |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 578 |
(1)Other segment items includes selling and administrative expenses, advertising costs, research and development costs and other income and expenses. The items defined in segment adjusted EBIT above are excluded from other segment items and Corporate and Other. (2)Represents the expenses related to the Company’s acquisition and integration of GOJO corresponding to Corporate and Other. See Note 14 for additional details related to the acquisition. (3)Represents expenses related to the Company’s digital capabilities and productivity enhancements investment corresponding to Corporate and Other.
| Segment adjusted earnings (losses) before interest and income taxes
| Three months ended March 31, 2025
| Health and Wellness |  | Household |  | Lifestyle |  | International |  | Total
Net sales | $ | 630 |  |  | $ | 469 |  |  | $ | 306 |  |  | $ | 263 |  |  |
Cost of products sold | 305 |  |  | 308 |  |  | 154 |  |  | 162 |  |  |
Other segment items (1) | 156 |  |  | 100 |  |  | 92 |  |  | 70 |  |  |
Segment adjusted EBIT | $ | 169 |  |  | $ | 61 |  |  | $ | 60 |  |  | $ | 31 |  |  | $ | 321 |
Corporate and Other |  |  |  |  |  |  |  |  | (55) |
Interest income |  |  |  |  |  |  |  |  | 2 |
Interest expense |  |  |  |  |  |  |  |  | (23) |
Loss on divestiture (2) |  |  |  |  |  |  |  |  | — |
Cyberattack costs, net of insurance recoveries (3) |  |  |  |  |  |  |  |  | 35 |
Digital capabilities and productivity enhancements investment (4) |  |  |  |  |  |  |  |  | (26) |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 254 |
| Segment adjusted earnings (losses) before interest and income taxes
| Nine months ended March 31, 2025
| Health and Wellness |  | Household |  | Lifestyle |  | International |  | Total
Net sales | $ | 1,956 |  |  | $ | 1,362 |  |  | $ | 964 |  |  | $ | 796 |  |  |
Cost of products sold | 928 |  |  | 897 |  |  | 479 |  |  | 495 |  |  |
Other segment items (1) | 431 |  |  | 296 |  |  | 289 |  |  | 214 |  |  |
Segment adjusted EBIT | $ | 597 |  |  | $ | 169 |  |  | $ | 196 |  |  | $ | 87 |  |  | $ | 1,049 |
Corporate and Other |  |  |  |  |  |  |  |  | (193) |
Interest income |  |  |  |  |  |  |  |  | 7 |
Interest expense |  |  |  |  |  |  |  |  | (66) |
Loss on divestiture (2) |  |  |  |  |  |  |  |  | (118) |
Cyberattack costs, net of insurance recoveries (3) |  |  |  |  |  |  |  |  | 70 |
Digital capabilities and productivity enhancements investment (4) |  |  |  |  |  |  |  |  | (81) |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 668 |
(1)Other segment items includes selling and administrative expenses, advertising costs, research and development costs and other income and expenses. The items defined in segment adjusted EBIT above are excluded from other segment items and Corporate and Other. (2)Represents the loss on divestiture of the Better Health VMS business corresponding to Corporate and Other. See Note 3 for additional details related to the divestiture. (3)Represents insurance recoveries related to the cyberattack corresponding to Corporate and Other. See Note 10 for further discussion. (4)Represents expenses related to the Company’s digital capabilities and productivity enhancements investment corresponding to Corporate and Other. Certain other segment disclosures were as follows:
|  | Health and Wellness | Household | Lifestyle | International | Corporate and Other | Total Company |
Total assets |  |  |  |  |  |  |  |
Balance as of 3/31/2026 |  | $ | 1,198 |  | $ | 1,085 |  | $ | 1,098 |  | $ | 1,306 |  | $ | 1,749 |  | $ | 6,436 |  |
Balance as of 6/30/2025 |  | 1,217 |  | 1,091 |  | 1,103 |  | 1,329 |  | 821 |  | 5,561 |  |
(Income) Loss from equity investees included in Other (income) expense, net |  |  |  |  |  |  |  |
Three months ended 03/31/2026 |  | — |  | — |  | — |  | — |  | — |  | — |  |
Three months ended 03/31/2025 |  | — |  | — |  | — |  | — |  | — |  | — |  |
Nine months ended 03/31/2026 |  | — |  | — |  | — |  | (2) |  | — |  | (2) |  |
Nine months ended 03/31/2025 |  | — |  | — |  | — |  | (3) |  | — |  | (3) |  |
Capital expenditures |  |  |  |  |  |  |  |
Three months ended 03/31/2026 |  | 13 |  | 15 |  | 6 |  | 9 |  | — |  | 43 |  |
Three months ended 03/31/2025 |  | 15 |  | 19 |  | 9 |  | 7 |  | 3 |  | 53 |  |
Nine months ended 03/31/2026 |  | 36 |  | 47 |  | 18 |  | 17 |  | 3 |  | 121 |  |
Nine months ended 03/31/2025 |  | 38 |  | 58 |  | 28 |  | 13 |  | 8 |  | 145 |  |
Depreciation and amortization |  |  |  |  |  |  |  |
Three months ended 3/31/2026 |  | 15 |  | 22 |  | 6 |  | 11 |  | 4 |  | 58 |  |
Three months ended 3/31/2025 |  | 14 |  | 20 |  | 7 |  | 10 |  | 4 |  | 55 |  |
Nine months ended 03/31/2026 |  | 44 |  | 63 |  | 20 |  | 32 |  | 10 |  | 169 |  |
Nine months ended 03/31/2025 |  | 42 |  | 58 |  | 18 |  | 31 |  | 13 |  | 162 |  |
Significant noncash charges included in earnings before interest and income taxes: |
Stock-based compensation |  |  |  |  |  |  |  |
Three months ended 3/31/2026 |  | 4 |  | 2 |  | 2 |  | 1 |  | 6 |  | 15 |  |
Three months ended 3/31/2025 |  | 4 |  | 3 |  | 2 |  | 2 |  | 13 |  | 24 |  |
Nine months ended 03/31/2026 |  | 12 |  | 8 |  | 6 |  | 4 |  | 19 |  | 49 |  |
Nine months ended 03/31/2025 |  | 12 |  | 9 |  | 6 |  | 5 |  | 32 |  | 64 |  |
Net sales to the Company’s largest customer, Walmart Inc. and its affiliates, as a percentage of consolidated net sales, was 28% and 27% for the three and nine months ended March 31, 2026, respectively, and 27% and 26% for the three and nine months ended March 31, 2025, respectively. 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 ended |  | Nine months ended
| 3/31/2026 |  | 3/31/2025 |  | 3/31/2026 |  | 3/31/2025
Cleaning | 33 | % |  | 33 | % |  | 33 | % |  | 33 | %
Professional Products | 5 |  |  | 5 |  |  | 5 |  |  | 5 |
Health and Wellness | 38 | % |  | 38 | % |  | 38 | % |  | 38 | %
Bags and Wraps | 12 |  |  | 12 |  |  | 12 |  |  | 12 |
Cat Litter | 8 |  |  | 8 |  |  | 9 |  |  | 9 |
Grilling | 9 |  |  | 8 |  |  | 6 |  |  | 6 |
Household | 29 | % |  | 28 | % |  | 27 | % |  | 27 | %
Food | 11 |  |  | 11 |  |  | 10 |  |  | 11 |
Water Filtration | 2 |  |  | 4 |  |  | 4 |  |  | 4 |
Natural Personal Care | 3 |  |  | 3 |  |  | 4 |  |  | 4 |
Lifestyle | 16 | % |  | 18 | % |  | 18 | % |  | 19 | %
International | 17 | % |  | 16 | % |  | 17 | % |  | 15 | %
Corporate and Other | — | % |  | — | % |  | — | % |  | 1 | %
Total Company | 100 | % |  | 100 | % |  | 100 | % |  | 100 | %

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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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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