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v3.23.2

SEGMENT INFORMATION (Tables) | 9 Months Ended
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Jul. 02, 2023
Segment Reporting [Abstract] |
Net Sales Relating to Segments | Net sales relating to the segments for the three and nine month periods ended July 2, 2023 and July 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Nine Month Periods Ended
(in millions) |  | July 2, 2023 |  | July 3, 2022 |  | July 2, 2023 |  | July 3, 2022
GPC |  | $ | 272.3 |  |  | $ | 290.2 |  |  | $ | 846.5 |  |  | $ | 887.5 |
H&G |  | 186.6 |  |  | 198.5 |  |  | 411.3 |  |  | 470.3 |
HPC |  | 276.6 |  |  | 329.3 |  |  | 920.3 |  |  | 1,025.2 |
Net sales |  | $ | 735.5 |  |  | $ | 818.0 |  |  | $ | 2,178.1 |  |  | $ | 2,383.0 |
Schedule of Segment Information | Segment Adjusted EBITDA for the reportable segments for SBH for the three and nine month periods ended July 2, 2023 and July 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Nine Month Periods Ended
SBH (in millions) |  | July 2, 2023 |  | July 3, 2022 |  | July 2, 2023 |  | July 3, 2022
GPC |  | $ | 53.6 |  |  | $ | 40.9 |  |  | $ | 137.1 |  |  | $ | 120.2 |
H&G |  | 38.6 |  |  | 42.8 |  |  | 51.4 |  |  | 73.1 |
HPC |  | 11.4 |  |  | 3.6 |  |  | 22.7 |  |  | 41.6 |
Total segment adjusted EBITDA |  | 103.6 |  |  | 87.3 |  |  | 211.2 |  |  | 234.9 |
Corporate |  | 5.1 |  |  | 7.2 |  |  | 21.9 |  |  | 26.5 |
Interest expense |  | 38.9 |  |  | 26.0 |  |  | 103.9 |  |  | 72.4 |
Depreciation |  | 12.1 |  |  | 12.3 |  |  | 36.2 |  |  | 36.6 |
Amortization |  | 10.5 |  |  | 13.1 |  |  | 31.4 |  |  | 39.9 |
Share and incentive based compensation |  | 4.8 |  |  | (0.7) |  |  | 12.5 |  |  | 11.4 |
Tristar acquisition and integration |  | 1.0 |  |  | 5.6 |  |  | 10.7 |  |  | 20.0 |
HHI divestiture |  | 4.0 |  |  | 0.6 |  |  | 6.9 |  |  | 6.1 |
HPC separation initiatives |  | 0.5 |  |  | 10.7 |  |  | 4.0 |  |  | 15.4 |
Coevorden operations separation |  | — |  |  | 1.9 |  |  | 2.7 |  |  | 7.3 |
Rejuvenate integration |  | — |  |  | — |  |  | — |  |  | 7.0 |
Armitage integration |  | — |  |  | 0.1 |  |  | — |  |  | 1.4 |
Omega integration |  | — |  |  | 0.1 |  |  | — |  |  | 1.5 |
Fiscal 2023 restructuring |  | 0.9 |  |  | — |  |  | 5.3 |  |  | — |
Fiscal 2022 restructuring |  | — |  |  | 8.1 |  |  | 0.7 |  |  | 8.1 |
Russia closing initiatives |  | 0.2 |  |  | 0.4 |  |  | 2.9 |  |  | 4.0 |
Global ERP transformation |  | 3.7 |  |  | 3.4 |  |  | 8.5 |  |  | 9.4 |
HPC brand portfolio transitions |  | 0.7 |  |  | 0.3 |  |  | 2.1 |  |  | 0.3 |
GPC distribution center transition |  | — |  |  | 8.4 |  |  | — |  |  | 28.3 |
Global productivity improvement program |  | — |  |  | 1.2 |  |  | — |  |  | 5.2 |
Other project costs |  | 1.2 |  |  | 4.1 |  |  | 8.9 |  |  | 10.7 |
Unallocated shared costs |  | 5.3 |  |  | 7.0 |  |  | 18.1 |  |  | 20.7 |
Non-cash purchase accounting adjustments |  | 0.5 |  |  | 4.3 |  |  | 1.4 |  |  | 7.8 |
Gain from remeasurement of contingent consideration liability |  | — |  |  | (25.0) |  |  | (1.5) |  |  | (25.0) |
Impairment of equipment and operating lease assets |  | 3.6 |  |  | — |  |  | 8.1 |  |  | — |
Impairment of goodwill |  | 111.1 |  |  | — |  |  | 111.1 |  |  | — |
Impairment of intangible assets |  | 53.7 |  |  | — |  |  | 120.7 |  |  | — |
Early settlement of foreign currency cash flow hedges |  | 0.7 |  |  | (8.2) |  |  | 4.6 |  |  | (8.2) |
Legal and environmental |  | 1.5 |  |  | — |  |  | 1.5 |  |  | (0.5) |
HPC product recall |  | 1.9 |  |  | — |  |  | 3.8 |  |  | — |
Salus and other |  | — |  |  | 1.4 |  |  | 5.0 |  |  | 1.7 |
(Loss) income from continuing operations before income taxes |  | $ | (158.3) |  |  | $ | 5.0 |  |  | $ | (320.2) |  |  | $ | (73.1) |
Segment Adjusted EBITDA for reportable segments for SB/RH for the three and nine month periods ended July 2, 2023 and July 3, 2022, are as follows:
|  | Three Month Periods Ended |  | Nine Month Periods Ended
SB/RH (in millions) |  | July 2, 2023 |  | July 3, 2022 |  | July 2, 2023 |  | July 3, 2022
GPC |  | $ | 53.6 |  |  | $ | 40.9 |  |  | $ | 137.1 |  |  | $ | 120.2 |
H&G |  | 38.6 |  |  | 42.8 |  |  | 51.4 |  |  | 73.1 |
HPC |  | 11.4 |  |  | 3.6 |  |  | 22.7 |  |  | 41.6 |
Total segment adjusted EBITDA |  | 103.6 |  |  | 87.3 |  |  | 211.2 |  |  | 234.9 |
Corporate |  | 4.8 |  |  | 6.7 |  |  | 21.5 |  |  | 25.5 |
Interest expense |  | 38.2 |  |  | 26.1 |  |  | 103.3 |  |  | 72.7 |
Depreciation |  | 12.1 |  |  | 12.3 |  |  | 36.2 |  |  | 36.6 |
Amortization |  | 10.5 |  |  | 13.1 |  |  | 31.4 |  |  | 39.9 |
Share and incentive based compensation |  | 4.3 |  |  | (1.1) |  |  | 11.4 |  |  | 10.7 |
Tristar acquisition and integration |  | 1.0 |  |  | 5.6 |  |  | 10.7 |  |  | 20.0 |
HHI divestiture |  | 4.0 |  |  | 0.6 |  |  | 6.9 |  |  | 6.1 |
HPC separation initiatives |  | 0.5 |  |  | 10.7 |  |  | 4.0 |  |  | 15.4 |
Coevorden operations separation |  | — |  |  | 1.9 |  |  | 2.7 |  |  | 7.3 |
Rejuvenate integration |  | — |  |  | — |  |  | — |  |  | 7.0 |
Armitage integration |  | — |  |  | 0.1 |  |  | — |  |  | 1.4 |
Omega integration |  | — |  |  | 0.1 |  |  | — |  |  | 1.5 |
Fiscal 2023 restructuring |  | 0.9 |  |  | — |  |  | 5.3 |  |  | — |
Fiscal 2022 restructuring |  | — |  |  | 8.1 |  |  | 0.7 |  |  | 8.1 |
Russia closing initiatives |  | 0.2 |  |  | 0.4 |  |  | 2.9 |  |  | 4.0 |
Global ERP transformation |  | 3.7 |  |  | 3.4 |  |  | 8.5 |  |  | 9.4 |
HPC brand portfolio transitions |  | 0.7 |  |  | 0.3 |  |  | 2.1 |  |  | 0.3 |
GPC distribution center transition |  | — |  |  | 8.4 |  |  | — |  |  | 28.3 |
Global productivity improvement program |  | — |  |  | 1.2 |  |  | — |  |  | 5.2 |
Other project costs |  | 1.2 |  |  | 4.1 |  |  | 8.9 |  |  | 10.7 |
Unallocated shared costs |  | 5.3 |  |  | 7.0 |  |  | 18.1 |  |  | 20.7 |
Non-cash purchase accounting adjustments |  | 0.5 |  |  | 4.3 |  |  | 1.4 |  |  | 7.8 |
Gain from remeasurement of contingent consideration liability |  | — |  |  | (25.0) |  |  | (1.5) |  |  | (25.0) |
Impairment of equipment and operating lease assets |  | 3.6 |  |  | — |  |  | 8.1 |  |  | — |
Impairment of goodwill |  | 111.1 |  |  | — |  |  | 111.1 |  |  | — |
Impairment of intangible assets |  | 53.7 |  |  | — |  |  | 120.7 |  |  | — |
Early settlement of foreign currency cash flow hedges |  | 0.7 |  |  | (8.2) |  |  | 4.6 |  |  | (8.2) |
Legal and environmental |  | 1.5 |  |  | — |  |  | 1.5 |  |  | (0.5) |
HPC product recall |  | 1.9 |  |  | — |  |  | 3.8 |  |  | — |
Other |  | — |  |  | 1.5 |  |  | 5.0 |  |  | 1.4 |
(Loss) income from continuing operations before income taxes |  | $ | (156.8) |  |  | $ | 5.7 |  |  | $ | (318.1) |  |  | $ | (71.4) |

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