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Segment Information | 6 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 17. SEGMENT INFORMATION The Company’s organizational structure consists of two geographic based reportable segments: North America and International, which are also the operating segments. This structure is in line with how the Company’s Chief Operating Decision Maker (“CODM”) assesses the Company’s performance and allocates resources. The Company uses segment net sales and segment Adjusted EBITDA in order to analyze segment results and trends. Segment Adjusted EBITDA excludes net interest expense, income taxes, depreciation and amortization, equity in net loss of equity-method investees, stock-based compensation, net, unrealized currency losses, certain litigation and related costs, plant closure related costs, net, productivity and transformation costs, costs associated with acquisitions, divestitures and other transactions, loss on sale of assets, impairment of goodwill, intangibles and long-lived assets and other adjustments. In addition, Segment Adjusted EBITDA does not include Corporate and Other expenses related to the Company’s centralized administrative functions, which do not specifically relate to a reportable segment. Such Corporate and Other expenses are comprised mainly of compensation and related expenses of certain of the Company’s senior executive officers and other employees who perform duties related to the entire enterprise, litigation expense and expenses for certain professional fees, facilities, and other items which benefit the Company as a whole. The following tables set forth financial information about each of the Company’s reportable segments. Information about total assets by segment is not disclosed because such information is not reported to or used by the Company’s CODM for purposes of assessing segment performance or allocating resources. Transactions between reportable segments were insignificant for all periods presented.
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 229,289 |  |  | $ | 267,671 |  |  | $ | 460,429 |  |  | $ | 527,725 |
International |  |  | 182,196 |  |  |  | 186,429 |  |  |  | 345,652 |  |  |  | 351,404 |
|  | $ | 411,485 |  |  | $ | 454,100 |  |  | $ | 806,081 |  |  | $ | 879,129 |
Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 25,307 |  |  | $ | 31,218 |  |  | $ | 37,766 |  |  | $ | 49,945 |
International |  |  | 22,526 |  |  |  | 25,969 |  |  |  | 42,896 |  |  |  | 43,407 |
Total Reportable Segments Adjusted EBITDA |  |  | 47,833 |  |  |  | 57,187 |  |  |  | 80,662 |  |  |  | 93,352 |
Corporate and Other |  |  | (9,940 | ) |  |  | (10,061 | ) |  |  | (20,394 | ) |  |  | (22,136 | )
|  |  | 37,893 |  |  |  | 47,126 |  |  |  | 60,268 |  |  |  | 71,216 |
Depreciation and amortization |  |  | (11,020 | ) |  |  | (11,197 | ) |  |  | (22,447 | ) |  |  | (23,502 | )
Equity in net loss of equity-method investees |  |  | (588 | ) |  |  | (907 | ) |  |  | (743 | ) |  |  | (1,405 | )
Interest expense, net |  |  | (11,993 | ) |  |  | (15,333 | ) |  |  | (24,988 | ) |  |  | (27,956 | )
(Provision) benefit for income taxes |  |  | (2,728 | ) |  |  | 4,249 |  |  |  | (6,251 | ) |  |  | 9,628 |
Stock-based compensation, net |  |  | (3,573 | ) |  |  | (3,376 | ) |  |  | (6,449 | ) |  |  | (7,118 | )
Unrealized currency gains |  |  | 1,624 |  |  |  | 194 |  |  |  | 430 |  |  |  | 159 |
Certain litigation expenses, net(a) |  |  | (1,020 | ) |  |  | (2,091 | ) |  |  | (1,847 | ) |  |  | (3,615 | )
Restructuring activities |  |  |  |  |  |  |  |  |  |  |  |
Productivity and transformation costs |  |  | (4,190 | ) |  |  | (6,869 | ) |  |  | (9,208 | ) |  |  | (13,272 | )
Plant closure related costs, net |  |  | (858 | ) |  |  | (2,302 | ) |  |  | (1,234 | ) |  |  | (4,143 | )
Warehouse/manufacturing consolidation and other costs, net |  |  | — |  |  |  | (811 | ) |  |  | — |  |  |  | (811 | )
Acquisitions, divestitures and other |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on sale of assets |  |  | 1,626 |  |  |  | — |  |  |  | (2,308 | ) |  |  | (62 | )
Transaction and integration costs, net |  |  | 105 |  |  |  | (109 | ) |  |  | 423 |  |  |  | (227 | )
Impairment charges |  |  |  |  |  |  |  |  |  |  |  |
Goodwill impairment |  |  | (91,267 | ) |  |  | — |  |  |  | (91,267 | ) |  |  | — |
Intangibles and long-lived asset impairment |  |  | (17,986 | ) |  |  | (20,666 | ) |  |  | (18,017 | ) |  |  | (21,360 | )
Other |  |  | — |  |  |  | (1,443 | ) |  |  | — |  |  |  | (1,443 | )
Net loss |  | $ | (103,975 | ) |  | $ | (13,535 | ) |  | $ | (123,638 | ) |  | $ | (23,911 | )
(a) Expenses and item s relating to securities class action, baby food litigation and SEC investigation. The Company’s net sales by product category are as follows:
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Snacks |  | $ | 89,707 |  |  | $ | 113,873 |  |  | $ | 189,182 |  |  | $ | 230,961 |
Baby & Kids |  |  | 61,561 |  |  |  | 61,613 |  |  |  | 122,329 |  |  |  | 124,141 |
Beverages |  |  | 69,814 |  |  |  | 72,584 |  |  |  | 126,490 |  |  |  | 128,732 |
Meal preparation |  |  | 177,653 |  |  |  | 182,133 |  |  |  | 337,045 |  |  |  | 347,329 |
Personal care |  |  | 12,750 |  |  |  | 23,897 |  |  |  | 31,035 |  |  |  | 47,966 |
|  | $ | 411,485 |  |  | $ | 454,100 |  |  | $ | 806,081 |  |  | $ | 879,129 |
The Company’s net sales by geographic region, which are generally based on the location of the Company’s subsidiaries, are as follows:
|  | Three Months Ended December 31, |  |  | Six Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
United States |  | $ | 203,325 |  |  | $ | 239,324 |  |  | $ | 406,098 |  |  | $ | 469,983 |
United Kingdom |  |  | 134,953 |  |  |  | 138,628 |  |  |  | 257,359 |  |  |  | 259,679 |
Western Europe |  |  | 47,243 |  |  |  | 47,801 |  |  |  | 88,293 |  |  |  | 91,725 |
Canada |  |  | 25,964 |  |  |  | 28,347 |  |  |  | 54,331 |  |  |  | 57,742 |
|  | $ | 411,485 |  |  | $ | 454,100 |  |  | $ | 806,081 |  |  | $ | 879,129 |
There has b een no materia l change to Company’s total assets by segment from the amount disclosed in the Form 10-K for the fiscal year ended June 30, 2024.

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