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Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s three reportable segments are:
Segment |  | Key Brands |  | Description of Primary Products
Home and Commercial Solutions |  | Ball(1), Calphalon, Crockpot, FoodSaver, Mapa, Mr. Coffee, Oster, Rubbermaid, Rubbermaid Commercial Products, Sistema, Spontex, Sunbeam, WoodWick and Yankee Candle |  | Commercial cleaning and maintenance solutions; closet and garage organization; hygiene systems and material handling solutions; household products, including kitchen appliances; food and home storage products; fresh preserving products; vacuum sealing products; gourmet cookware, bakeware and cutlery and home fragrance products
Learning and Development |  | Dymo, Elmer’s, EXPO, Graco, NUK, Paper Mate, Parker and Sharpie |  | Baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions
Outdoor and Recreation |  | Campingaz, Coleman, Contigo and Marmot |  | Active lifestyle products for outdoor and outdoor-related activities; technical apparel and on-the-go beverageware
(1) and Ball® TM of Ball Corporation, used under license. The President and Chief Executive Officer of the Company, who is the Chief Operating Decision Maker (the “CODM”) reviews the businesses as three operating segments: Home and Commercial Solutions, Learning and Development and Outdoor and Recreation. This structure reflects the manner in which the CODM regularly assesses information for decision-making purposes, including the allocation of resources. The Company also provides general corporate services to its segments which is reported as a non-operating segment, Corporate. The CODM evaluates the segments’ operating performance based on segment operating income, defined as net sales minus cost of products sold, segment SG&A (including share-based compensation at target for operating segment employees) and other segment costs. Segment SG&A includes an allocation of center-led corporate functions including the bonus for such corporate functions based on achieving 100% of the respective target. However, the allocation of center-led corporate functions does not include share-based compensation related to such functions. Any variability in expense from such targets, favorable or unfavorable, is retained at corporate, which would be reflected as a corporate expense. The CODM considers budget-to-current forecast and prior actuals-to-current forecast variances for segment operating income on a periodic basis for evaluating performance of each segment and making decisions about allocating capital and other resources to each segment. The Company’s results by segment are as follows (in millions):
| Three months ended March 31, 2025 |  | Three months ended March 31, 2024
| Consolidated | Home and Commercial Solutions | Learning and Development | Outdoor and Recreation |  | Consolidated | Home and Commercial Solutions | Learning and Development | Outdoor and Recreation
Net sales (1) | $ | 1,566 |  | $ | 812 |  | $ | 572 |  | $ | 182 |  |  | $ | 1,653 |  | $ | 893 |  | $ | 559 |  | $ | 201 |
Cost of products sold | 1,063 |  | 591 |  | 334 |  | 138 |  |  | 1,149 |  | 657 |  | 328 |  | 164 |
Segment SG&A | 409 |  | 222 |  | 139 |  | 48 |  |  | 399 |  | 213 |  | 132 |  | 54 |
Other segment costs (2) | 3 |  | 1 |  | 1 |  | 1 |  |  | 13 |  | 7 |  | 5 |  | 1 |
Segment operating income (loss) | $ | 91 |  | $ | (2) |  | $ | 98 |  | $ | (5) |  |  | $ | 92 |  | $ | 16 |  | $ | 94 |  | $ | (18) |
Corporate expenses (3) | 70 |  |  |  |  |  | 76 |  |  |  |
Operating income | $ | 21 |  |  |  |  |  | $ | 16 |  |  |  |
Interest expense, net | 72 |  |  |  |  |  | 70 |  |  |  |
Loss on extinguishment and modification of debt | — |  |  |  |  |  | 1 |  |  |  |
Other expense, net | 4 |  |  |  |  |  | 5 |  |  |  |
Loss before income taxes | $ | (55) |  |  |  |  |  | $ | (60) |  |  |  |
(1)All intercompany transactions have been eliminated. (2)Other segment costs primarily include segment restructuring costs, net (see Footnotes 3 for further information). (3)Corporate expenses primarily include costs of operating as a public company including retained costs of center-led corporate functions, and corporate restructuring and restructuring-related costs (see Footnote 3 for further information). In addition, corporate expense includes adjustments, favorable or unfavorable, between the actual bonus achieved versus the bonus at target for center-led corporate functions, as well as adjustments, favorable or unfavorable, between the actual share-based compensation achieved versus the share-based compensation at target for operating segment employees. Depreciation and amortization by segment are as follows (in millions):
|  |  |  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Home and Commercial Solutions |  |  |  |  | $ | 33 |  |  | $ | 42 |
Learning and Development |  |  |  |  | 16 |  |  | 16 |
Outdoor and Recreation |  |  |  |  | 7 |  |  | 11 |
Corporate |  |  |  |  | 19 |  |  | 16 |
|  |  |  |  | $ | 75 |  |  | $ | 85 |
Assets by segment are as follows at (in millions):
| March 31, 2025 |  | December 31, 2024
Home and Commercial Solutions | $ | 4,141 |  |  | $ | 4,110 |
Learning and Development | 3,865 |  |  | 3,786 |
Outdoor and Recreation | 588 |  |  | 541 |
Corporate | 2,685 |  |  | 2,567 |
| $ | 11,279 |  |  | $ | 11,004 |
Capital expenditures by segment are as follows (in millions):
|  |  |  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Home and Commercial Solutions |  |  |  |  | $ | 14 |  |  | $ | 18 |
Learning and Development |  |  |  |  | 10 |  |  | 10 |
Outdoor and Recreation |  |  |  |  | 3 |  |  | 3 |
Corporate |  |  |  |  | 32 |  |  | 28 |
|  |  |  |  | $ | 59 |  |  | $ | 59 |
The following table disaggregates net sales (1) by major product grouping for the periods indicated (in millions):
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Commercial |  |  |  |  |  | $ | 313 |  |  | $ | 324 |
Kitchen |  |  |  |  |  | 376 |  |  | 438 |
Home Fragrance |  |  |  |  |  | 123 |  |  | 131 |
Home and Commercial Solutions |  |  |  |  |  | 812 |  |  | 893 |
Baby |  |  |  |  |  | 238 |  |  | 220 |
Writing |  |  |  |  |  | 334 |  |  | 339 |
Learning and Development |  |  |  |  |  | 572 |  |  | 559 |
Outdoor and Recreation |  |  |  |  |  | 182 |  |  | 201 |
|  |  |  |  |  | $ | 1,566 |  |  | $ | 1,653 |
(1)All intercompany transactions have been eliminated. The following table disaggregates net sales (1) by geography for the periods indicated (in millions):
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
|  | North America (2) |  | International (2) |  | TOTAL |  | North America (2) |  | International (2) |  | TOTAL
Home and Commercial Solutions |  | $ | 510 |  |  | $ | 302 |  |  | $ | 812 |  |  | $ | 576 |  |  | $ | 317 |  |  | $ | 893 |
Learning and Development |  | 418 |  |  | 154 |  |  | 572 |  |  | 392 |  |  | 167 |  |  | 559 |
Outdoor and Recreation |  | 92 |  |  | 90 |  |  | 182 |  |  | 108 |  |  | 93 |  |  | 201 |
|  | $ | 1,020 |  |  | $ | 546 |  |  | $ | 1,566 |  |  | $ | 1,076 |  |  | $ | 577 |  |  | $ | 1,653 |
(1)All intercompany transactions have been eliminated. (2)Geographic sales information is based on the region from which the products are shipped and invoiced.

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- Definition The entire disclosure for reporting segments including data and tables. 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