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Condensed Consolidated Statements of Income - SB/RH - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Jul. 02, 2023
Jul. 03, 2022
Net sales $ 735.5 $ 818.0 $ 2,178.1 $ 2,383.0
Gross profit 263.5 276.0 679.9 750.9
Selling 137.0 161.9 401.4 457.9
General and administrative 81.1 94.3 253.4 289.3
Research and development 5.3 6.1 16.6 22.0
Impairment of goodwill 111.1 0.0 111.1 0.0
Impairment of intangible assets 53.7 0.0 120.7 0.0
Total operating expenses 388.2 237.3 901.7 744.2
Operating (loss) income (124.7) 38.7 (221.8) 6.7
Interest expense 38.9 26.0 103.9 72.4
Interest income (5.4) (0.1) (5.6) (0.5)
Other non-operating expense, net 0.1 7.8 0.1 7.9
(Loss) income from continuing operations before income taxes (158.3) 5.0 (320.2) (73.1)
Income tax expense (benefit) 13.9 2.0 (33.0) (20.8)
Net (loss) income from continuing operations (172.2) 3.0 (287.2) (52.3)
Income from discontinued operations, net of tax 2,031.8 29.9 2,072.7 109.8
Net income 1,859.6 32.9 1,785.5 57.5
Net income from continuing operations attributable to non-controlling interest 0.2 0.0 0.5 0.0
Net income from discontinued operations attributable to non-controlling interest 0.2 0.2 0.3 0.7
Net income attributable to controlling interest 1,859.2 32.7 1,784.7 56.8
Amounts attributable to controlling interest        
Net (loss) income from continuing operations attributable to controlling interest (172.4) 3.0 (287.7) (52.3)
Net income from discontinued operations attributable to controlling interest 2,031.6 29.7 2,072.4 109.1
Net income attributable to controlling interest 1,859.2 32.7 1,784.7 56.8
SB/RH        
Net sales 735.5 818.0 2,178.1 2,383.0
Cost of goods sold 472.0 542.0 1,498.2 1,632.1
Gross profit 263.5 276.0 679.9 750.9
Selling 137.0 161.9 401.4 457.9
General and administrative 80.3 93.5 251.9 287.4
Research and development 5.3 6.1 16.6 22.0
Impairment of goodwill 111.1 0.0 111.1 0.0
Impairment of intangible assets 53.7 0.0 120.7 0.0
Gain from remeasurement of contingent consideration liability 0.0 (25.0) (1.5) (25.0)
Total operating expenses 387.4 236.5 900.2 742.3
Operating (loss) income (123.9) 39.5 (220.3) 8.6
Interest expense 38.2 26.1 103.3 72.7
Interest income (5.4) (0.1) (5.6) (0.5)
Other non-operating expense, net 0.1 7.8 0.1 7.8
(Loss) income from continuing operations before income taxes (156.8) 5.7 (318.1) (71.4)
Income tax expense (benefit) 17.0 2.0 (29.3) (20.4)
Net (loss) income from continuing operations (173.8) 3.7 (288.8) (51.0)
Income from discontinued operations, net of tax 2,034.7 29.8 2,076.1 109.7
Net income 1,860.9 33.5 1,787.3 58.7
Net income from continuing operations attributable to non-controlling interest 0.2 0.0 0.5 0.0
Net income from discontinued operations attributable to non-controlling interest 0.2 0.2 0.3 0.7
Net income attributable to controlling interest 1,860.5 33.3 1,786.5 58.0
Amounts attributable to controlling interest        
Net (loss) income from continuing operations attributable to controlling interest (174.0) 3.7 (289.3) (51.0)
Net income from discontinued operations attributable to controlling interest 2,034.5 29.6 2,075.8 109.0
Net income attributable to controlling interest $ 1,860.5 $ 33.3 $ 1,786.5 $ 58.0