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v3.23.1

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Apr. 02, 2023
Segment Reporting [Abstract] |
Net Sales Relating to Segments | Net sales relating to the segments for the three and six month periods ended April 2, 2023 and April 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Six Month Periods Ended
(in millions) |  | April 2, 2023 |  | April 3, 2022 |  | April 2, 2023 |  | April 3, 2022
HPC |  | $ | 279.2 |  |  | $ | 316.1 |  |  | $ | 643.6 |  |  | $ | 695.8 |
GPC |  | 296.7 |  |  | 295.1 |  |  | 574.3 |  |  | 597.3 |
H&G |  | 153.3 |  |  | 196.6 |  |  | 224.6 |  |  | 271.9 |
Net sales |  | $ | 729.2 |  |  | $ | 807.8 |  |  | $ | 1,442.5 |  |  | $ | 1,565.0 |
Schedule of Segment Information | Segment Adjusted EBITDA for the reportable segments for SBH for the three and six month periods ended April 2, 2023 and April 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Six Month Periods Ended
SBH (in millions) |  | April 2, 2023 |  | April 3, 2022 |  | April 2, 2023 |  | April 3, 2022
HPC |  | $ | (1.9) |  |  | $ | 10.6 |  |  | $ | 11.3 |  |  | $ | 38.0 |
GPC |  | 46.3 |  |  | 40.6 |  |  | 83.5 |  |  | 79.3 |
H&G |  | 15.1 |  |  | 37.7 |  |  | 12.8 |  |  | 30.4 |
Total Segment Adjusted EBITDA |  | 59.5 |  |  | 88.9 |  |  | 107.6 |  |  | 147.7 |
Corporate |  | 8.5 |  |  | 9.9 |  |  | 16.8 |  |  | 19.4 |
Interest expense |  | 31.6 |  |  | 24.7 |  |  | 65.0 |  |  | 46.4 |
Depreciation |  | 11.9 |  |  | 12.2 |  |  | 24.1 |  |  | 24.4 |
Amortization |  | 10.5 |  |  | 13.5 |  |  | 20.9 |  |  | 26.7 |
Share and incentive based compensation |  | 4.5 |  |  | 6.6 |  |  | 7.7 |  |  | 12.2 |
Tristar acquisition and integration |  | 4.0 |  |  | 12.7 |  |  | 9.7 |  |  | 14.4 |
HHI divestiture |  | 1.4 |  |  | 1.2 |  |  | 2.9 |  |  | 5.5 |
HPC separation initiatives |  | 1.1 |  |  | 3.0 |  |  | 3.5 |  |  | 4.7 |
Coevorden operations separation |  | 1.4 |  |  | 2.1 |  |  | 2.7 |  |  | 5.3 |
Rejuvenate integration |  | — |  |  | 2.6 |  |  | — |  |  | 7.0 |
Armitage integration |  | — |  |  | 0.5 |  |  | — |  |  | 1.2 |
Omega integration |  | — |  |  | 0.5 |  |  | — |  |  | 1.4 |
Fiscal 2023 restructuring |  | 4.5 |  |  | — |  |  | 4.5 |  |  | — |
Fiscal 2022 restructuring |  | 0.1 |  |  | — |  |  | 0.6 |  |  | — |
Russia closing initiatives |  | (0.1) |  |  | — |  |  | 2.8 |  |  | — |
Global ERP transformation |  | 3.3 |  |  | 3.2 |  |  | 4.9 |  |  | 6.0 |
HPC brand portfolio transitions |  | 0.5 |  |  | — |  |  | 1.4 |  |  | — |
GPC distribution center transition |  | — |  |  | 7.1 |  |  | — |  |  | 19.9 |
Global productivity improvement program |  | — |  |  | 2.3 |  |  | — |  |  | 4.1 |
Other project costs |  | 4.6 |  |  | 8.2 |  |  | 7.8 |  |  | 10.2 |
Unallocated shared costs |  | 6.3 |  |  | 6.9 |  |  | 12.5 |  |  | 13.8 |
Non-cash purchase accounting adjustments |  | 0.5 |  |  | 3.5 |  |  | 0.9 |  |  | 3.5 |
Gain from remeasurement of contingent consideration liability |  | — |  |  | — |  |  | (1.5) |  |  | — |
Impairment of equipment and operating leases |  | 4.2 |  |  | — |  |  | 4.5 |  |  | — |
Impairment of intangible assets |  | 67.0 |  |  | — |  |  | 67.0 |  |  | — |
Early settlement of foreign currency cash flow hedges |  | 1.3 |  |  | — |  |  | 3.9 |  |  | — |
HPC product recall |  | 1.6 |  |  | — |  |  | 1.9 |  |  | — |
Legal and environmental |  | — |  |  | — |  |  | — |  |  | (0.5) |
Salus and other |  | 0.6 |  |  | 0.1 |  |  | 5.0 |  |  | 0.2 |
Loss from continuing operations before income taxes |  | $ | (109.8) |  |  | $ | (31.9) |  |  | $ | (161.9) |  |  | $ | (78.1) |
Segment Adjusted EBITDA for reportable segments for SB/RH for the three and six month periods ended April 2, 2023 and April 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Six Month Periods Ended
SB/RH (in millions) |  | April 2, 2023 |  | April 3, 2022 |  | April 2, 2023 |  | April 3, 2022
HPC |  | $ | (1.9) |  |  | $ | 10.6 |  |  | $ | 11.3 |  |  | $ | 38.0 |
GPC |  | 46.3 |  |  | 40.6 |  |  | 83.5 |  |  | 79.3 |
H&G |  | 15.1 |  |  | 37.7 |  |  | 12.8 |  |  | 30.4 |
Total Segment Adjusted EBITDA |  | 59.5 |  |  | 88.9 |  |  | 107.6 |  |  | 147.7 |
Corporate |  | 8.3 |  |  | 9.6 |  |  | 16.7 |  |  | 18.9 |
Interest expense |  | 31.7 |  |  | 24.8 |  |  | 65.1 |  |  | 46.7 |
Depreciation |  | 11.9 |  |  | 12.2 |  |  | 24.1 |  |  | 24.4 |
Amortization |  | 10.5 |  |  | 13.5 |  |  | 20.9 |  |  | 26.7 |
Share and incentive based compensation |  | 4.0 |  |  | 6.2 |  |  | 7.1 |  |  | 11.8 |
Tristar acquisition and integration |  | 4.0 |  |  | 12.7 |  |  | 9.7 |  |  | 14.4 |
HHI divestiture |  | 1.4 |  |  | 1.2 |  |  | 2.9 |  |  | 5.5 |
HPC separation initiatives |  | 1.1 |  |  | 3.0 |  |  | 3.5 |  |  | 4.7 |
Coevorden operations separation |  | 1.4 |  |  | 2.1 |  |  | 2.7 |  |  | 5.3 |
Rejuvenate integration |  | — |  |  | 2.6 |  |  | — |  |  | 7.0 |
Armitage integration |  | — |  |  | 0.5 |  |  | — |  |  | 1.2 |
Omega integration |  | — |  |  | 0.5 |  |  | — |  |  | 1.4 |
Fiscal 2023 restructuring |  | 4.5 |  |  | — |  |  | 4.5 |  |  | — |
Fiscal 2022 restructuring |  | 0.1 |  |  | — |  |  | 0.6 |  |  | — |
Russia closing initiatives |  | (0.1) |  |  | — |  |  | 2.8 |  |  | — |
Global ERP transformation |  | 3.3 |  |  | 3.2 |  |  | 4.9 |  |  | 6.0 |
HPC brand portfolio transitions |  | 0.5 |  |  | — |  |  | 1.4 |  |  | — |
GPC distribution center transition |  | — |  |  | 7.1 |  |  | — |  |  | 19.9 |
Global productivity improvement program |  | — |  |  | 2.3 |  |  | — |  |  | 4.1 |
Other project costs |  | 4.6 |  |  | 8.2 |  |  | 7.8 |  |  | 10.2 |
Unallocated shared costs |  | 6.3 |  |  | 6.9 |  |  | 12.5 |  |  | 13.8 |
Non-cash purchase accounting adjustments |  | 0.5 |  |  | 3.5 |  |  | 0.9 |  |  | 3.5 |
Gain from remeasurement of contingent consideration liability |  | — |  |  | — |  |  | (1.5) |  |  | — |
Impairment of equipment and operating leases |  | 4.2 |  |  | — |  |  | 4.5 |  |  | — |
Impairment of intangible assets |  | 67.0 |  |  | — |  |  | 67.0 |  |  | — |
Early settlement of foreign currency cash flow hedges |  | 1.3 |  |  | — |  |  | 3.9 |  |  | — |
HPC product recall |  | 1.6 |  |  | — |  |  | 1.9 |  |  | — |
Legal and environmental |  | — |  |  | — |  |  | — |  |  | (0.5) |
Other |  | 0.6 |  |  | — |  |  | 5.0 |  |  | (0.2) |
Loss from continuing operations before income taxes |  | $ | (109.2) |  |  | $ | (31.2) |  |  | $ | (161.3) |  |  | $ | (77.1) |

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