Segment Information
Mar. 31, 2024
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.
and Ball® TM of Ball Corporation, used under license.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.
Selected information by segment is presented in the following tables (in millions):
| Three Months Ended March 31, | ||||||||||||||
| 2024 | 2023 | |||||||||||||
Net sales (1) | ||||||||||||||
| Home and Commercial Solutions | $ | 893 | $ | 971 | ||||||||||
| Learning and Development | 559 | 564 | ||||||||||||
| Outdoor and Recreation | 201 | 270 | ||||||||||||
| $ | 1,653 | $ | 1,805 | |||||||||||
Operating income (loss) (2) | ||||||||||||||
| Home and Commercial Solutions | $ | 16 | $ | (37) | ||||||||||
| Learning and Development | 94 | 72 | ||||||||||||
| Outdoor and Recreation | (18) | (1) | ||||||||||||
| Corporate | (76) | (70) | ||||||||||||
| $ | 16 | $ | (36) | |||||||||||
| March 31, 2024 | December 31, 2023 | |||||||||||||
| Segment assets | ||||||||||||||
| Home and Commercial Solutions | $ | 4,585 | $ | 4,713 | ||||||||||
| Learning and Development | 4,082 | 4,111 | ||||||||||||
| Outdoor and Recreation | 690 | 687 | ||||||||||||
| Corporate | 2,743 | 2,652 | ||||||||||||
| $ | 12,100 | $ | 12,163 | |||||||||||
(1)All intercompany transactions have been eliminated.
(2)Operating income (loss) by segment is net sales less cost of products sold, SG&A, restructuring and impairment of goodwill, intangibles and other assets. Certain Corporate expenses of an operational nature are allocated to business segments primarily on a net sales basis. Corporate depreciation and amortization is allocated to the segments on a percentage of net sales basis and included in segment operating income (loss).
The following table disaggregates revenue by major product grouping source for the periods indicated (in millions):
| Three Months Ended March 31, | ||||||||||||||
| 2024 | 2023 | |||||||||||||
| Commercial | $ | 324 | $ | 348 | ||||||||||
| Kitchen | 438 | 459 | ||||||||||||
| Home Fragrance | 131 | 164 | ||||||||||||
| Home and Commercial Solutions | 893 | 971 | ||||||||||||
| Baby | 220 | 217 | ||||||||||||
| Writing | 339 | 347 | ||||||||||||
| Learning and Development | 559 | 564 | ||||||||||||
| Outdoor and Recreation | 201 | 270 | ||||||||||||
| TOTAL | $ | 1,653 | $ | 1,805 | ||||||||||
The following table disaggregates revenue by geography for the periods indicated (in millions):
| Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | |||||||||||||||||||||||||||||||||||||
| North America | International | TOTAL | North America | International | TOTAL | |||||||||||||||||||||||||||||||||
| Home and Commercial Solutions | $ | 576 | $ | 317 | $ | 893 | $ | 643 | $ | 328 | $ | 971 | ||||||||||||||||||||||||||
| Learning and Development | 392 | 167 | 559 | 395 | 169 | 564 | ||||||||||||||||||||||||||||||||
| Outdoor and Recreation | 108 | 93 | 201 | 146 | 124 | 270 | ||||||||||||||||||||||||||||||||
| $ | 1,076 | $ | 577 | $ | 1,653 | $ | 1,184 | $ | 621 | $ | 1,805 | |||||||||||||||||||||||||||