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Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

Segment InformationDuring the first quarter, the Company appointed separate Presidents for its Food and Commercial business units, each reporting directly to the chief operating decision maker (CODM). The Company determined these appointments required a reassessment of its operating and reportable segments. As a result of its assessment, the Company concluded that the Food and Commercial business units are two separate operating segments but meet the requirements to be aggregated into a single reportable segment, pursuant to authoritative accounting literature, as they have similar economic and qualitative characteristics. There were no changes to its other reportable segments.

The Company’s four primary reportable segments are as follows:

Segment

Key Brands

Description of Primary Products

Appliances and Cookware

Calphalon®, Crock-Pot®, Mr. Coffee®, Oster® and Sunbeam®

Household products, including kitchen appliances, gourmet cookware, bakeware and cutlery

Food and Commercial

Ball® (1), FoodSaver®, Rubbermaid®, Rubbermaid Commercial Products®, Sistema®, Mapa®, Quickie® and Spontex®

Food storage and home storage products, fresh preserving products, vacuum sealing products, commercial cleaning and maintenance solutions, hygiene systems and material handling solutions

Home and  Outdoor Living

Chesapeake Bay Candle®, Coleman®, Contigo®, ExOfficio®, First Alert®, Marmot®, WoodWick® and Yankee Candle®

Products for outdoor and outdoor-related activities, home fragrance products and connected home and security

Learning and  Development

Aprica®, Baby Jogger®, Dymo®, Elmer’s®, EXPO®, Graco®, Mr. Sketch®, NUK®, Paper Mate®, Parker®, Prismacolor®, Sharpie®, Tigex® Waterman® and X-Acto®

Writing instruments, including markers and highlighters, pens and pencils; art products; activity-based adhesive and cutting products; labeling solutions; baby gear and infant care products

(1) Ball® TM of Ball Corporation, used under license.

The Company also provides general corporate services to its segments which is reported as a non-operating segment, Corporate. Selected information by segment is presented in the following tables (in millions):

																		Three Months Ended March 31,
																		2020						2019
Net sales (1)
Appliances and Cookware																		$	291					$	330
Food and Commercial																		520						504
Home and Outdoor Living																		547						627
Learning and Development																		528						581
																		$	1,886					$	2,042
Operating income (loss) (2)
Appliances and Cookware																		$	(308)					$	(4)
Food and Commercial																		84						1
Home and Outdoor Living																		(1,121)						(2)
Learning and Development																		5						89
Corporate																		(66)						(61)
Restructuring																		(2)						(11)
																		$	(1,408)					$	12
																		March 31, 2020						December 31, 2019
Segment assets
Appliances and Cookware																		$	1,064					$	1,468
Food and Commercial																		3,780						3,795
Home and Outdoor Living																		2,802						3,833
Learning and Development																		5,007						4,800
Corporate																		1,250						1,746
																		$	13,903					$	15,642
																		Three Months Ended March 31,
																		2020						2019
Impairment of goodwill and indefinite-lived intangibles assets (3)
Appliances and Cookware																		$	299					$	—
Food and Commercial																		—						63
Home and Outdoor Living																		1,092						—
Learning and Development																		78						—
																		$	1,469					$	63

(1)All intercompany transactions have been eliminated.

(2)Operating income (loss) by segment is net sales less cost of products sold, SG&A and impairment of goodwill, intangibles and other assets for continuing operations. Certain Corporate expenses of an operational nature are allocated to business segments primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of sales basis, and included in segment operating income.

(3)During the three months ended March 31, 2020, the Company recorded impairment charges to reflect impairment of intangible assets related to certain of the Company’s indefinite-lived trade names and goodwill. During the three months ended March 31, 2019, the Company recorded an impairment charge to reflect a decrease in the carrying values of Mapa/Spontex and Quickie while these businesses were classified as held for sale. See Footnote 7 for further information.

The following tables disaggregates revenue by major product grouping source and geography for the periods indicated (in millions):

			Three Months Ended March 31, 2020
			Appliances and Cookware						Food and Commercial						Home and Outdoor Living						Learning and Development												Total
Appliances and Cookware			$	291					$	—					$	—					$	—											$	291
Food			—						184						—						—												184
Commercial			—						336						—						—												336
Connected Home and Security			—						—						77						—												77
Home Fragrance			—						—						163						—												163
Outdoor and Recreation			—						—						307						—												307
Baby and Parenting			—						—						—						244												244
Writing			—						—						—						284												284
Total			$	291					$	520					$	547					$	528											$	1,886
North America			$	184					$	374					$	387					$	374											$	1,319
International			107						146						160						154												567
Total			$	291					$	520					$	547					$	528											$	1,886

			Three Months Ended March 31, 2019
			Appliances and Cookware						Food and Commercial						Home and Outdoor Living						Learning and Development												Total
Appliances and Cookware			$	330					$	—					$	—					$	—											$	330
Food			—						175						—						—												175
Commercial Products			—						329						—						—												329
Connected Home and Security			—						—						84						—												84
Home Fragrance			—						—						197						—												197
Outdoor and Recreation			—						—						346						—												346
Baby and Parenting			—						—						—						236												236
Writing			—						—						—						345												345
Total			$	330					$	504					$	627					$	581											$	2,042
North America			$	214					$	363					$	440					$	391											$	1,408
International			116						141						187						190												634
Total			$	330					$	504					$	627					$	581											$	2,042

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- References

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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

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