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SEGMENT INFORMATION | 9 Months Ended
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Jun. 29, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company divides its operations into three reportable segments: U.S. Consumer, Hawthorne and Other. U.S. Consumer consists of the Company’s consumer lawn and garden business in the United States. Hawthorne consists of the Company’s indoor and hydroponic gardening business. Other primarily consists of the Company’s consumer lawn and garden business in Canada. This identification of reportable segments is consistent with how the segments report to and are managed by the chief operating decision maker of the Company. In addition, Corporate consists of general and administrative expenses and certain other income and expense items not allocated to the business segments. The performance of each reportable segment is evaluated based on several factors, including income (loss) before income taxes, amortization, impairment, restructuring and other charges (“Segment Profit (Loss)”). Senior management uses Segment Profit (Loss) to evaluate segment performance because the Company believes this measure is indicative of performance trends and the overall earnings potential of each segment. The following tables present financial information for the Company’s reportable segments for the periods indicated:
| Three Months Ended |  | Nine Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Net Sales: |  |  |  |  |  |  |
U.S. Consumer | $ | 1,017.5 |  |  | $ | 916.4 |  |  | $ | 2,704.0 |  |  | $ | 2,642.7 |
Hawthorne | 67.7 |  |  | 93.4 |  |  | 214.2 |  |  | 317.6 |
Other | 117.0 |  |  | 108.9 |  |  | 219.8 |  |  | 216.5 |
Consolidated | $ | 1,202.2 |  |  | $ | 1,118.7 |  |  | $ | 3,138.0 |  |  | $ | 3,176.8 |
Segment Profit (Loss): |  |  |  |  |  |  |
U.S. Consumer | $ | 210.3 |  |  | $ | 124.8 |  |  | $ | 580.5 |  |  | $ | 553.5 |
Hawthorne | 3.8 |  |  | (8.7) |  |  | (9.2) |  |  | (41.7) |
Other | 11.7 |  |  | 5.8 |  |  | 13.0 |  |  | 21.8 |
Total Segment Profit | 225.8 |  |  | 121.9 |  |  | 584.3 |  |  | 533.6 |
Corporate | (25.1) |  |  | (3.4) |  |  | (86.8) |  |  | (77.4) |
Intangible asset amortization | (3.9) |  |  | (6.7) |  |  | (11.8) |  |  | (20.8) |
Impairment, restructuring and other | 3.3 |  |  | (34.5) |  |  | (60.8) |  |  | (193.7) |
Equity in income (loss) of unconsolidated affiliates | 23.0 |  |  | 22.2 |  |  | (6.5) |  |  | 3.5 |
Interest expense | (38.8) |  |  | (47.1) |  |  | (125.6) |  |  | (138.1) |
Other non-operating income (expense), net | (1.3) |  |  | (0.4) |  |  | (4.2) |  |  | 0.2 |
Income before income taxes | $ | 183.0 |  |  | $ | 52.0 |  |  | $ | 288.6 |  |  | $ | 107.3 |
The following table presents net sales by product category for the periods indicated:
| Three Months Ended |  | Nine Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
U.S. Consumer: |  |  |  |  |  |  |
Growing media and mulch | $ | 568.5 |  |  | $ | 552.9 |  |  | $ | 1,232.0 |  |  | $ | 1,167.2 |
Lawn care | 203.5 |  |  | 165.0 |  |  | 832.1 |  |  | 844.7 |
Controls | 134.5 |  |  | 113.7 |  |  | 325.0 |  |  | 306.5 |
Roundup® marketing agreement | 53.6 |  |  | 30.7 |  |  | 141.6 |  |  | 121.7 |
Other, primarily gardening | 57.4 |  |  | 54.1 |  |  | 173.3 |  |  | 202.6 |
Hawthorne: |  |  |  |  |  |  |
Nutrients | 27.2 |  |  | 27.3 |  |  | 68.4 |  |  | 74.5 |
Lighting | 12.7 |  |  | 20.7 |  |  | 60.7 |  |  | 89.1 |
Growing media | 9.4 |  |  | 17.3 |  |  | 30.8 |  |  | 53.6 |
Growing environments | 7.0 |  |  | 13.1 |  |  | 24.8 |  |  | 54.6 |
Other, primarily hardware | 11.4 |  |  | 15.0 |  |  | 29.5 |  |  | 45.8 |
Other: |  |  |  |  |  |  |
Growing media | 46.7 |  |  | 44.3 |  |  | 83.2 |  |  | 84.6 |
Lawn care | 39.9 |  |  | 37.0 |  |  | 73.7 |  |  | 69.3 |
Other, primarily gardening and controls | 30.4 |  |  | 27.6 |  |  | 62.9 |  |  | 62.6 |
Total net sales | $ | 1,202.2 |  |  | $ | 1,118.7 |  |  | $ | 3,138.0 |  |  | $ | 3,176.8 |
The following table presents net sales by geographic area for the periods indicated:
| Three Months Ended |  | Nine Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Net sales: |  |  |  |  |  |  |
United States | $ | 1,083.6 |  |  | $ | 1,008.3 |  |  | $ | 2,891.1 |  |  | $ | 2,920.5 |
International | 118.6 |  |  | 110.4 |  |  | 246.9 |  |  | 256.3 |
| $ | 1,202.2 |  |  | $ | 1,118.7 |  |  | $ | 3,138.0 |  |  | $ | 3,176.8 |

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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