v3.24.1.u1
Segments
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segments
18.
Segments

Segment Information

The Company operates three reportable segments: Consumer Domestic, Consumer International and Specialty Products Division. These segments are determined based on differences in the nature of products and organizational structure. The Company also has a Corporate segment.

Segment revenues are derived from the sale of the following products:

Segment

 

 

Products

 

Consumer Domestic

 

Household and personal care products

Consumer International

 

Primarily personal care products

SPD

 

Specialty chemical products

The Corporate segment income consists of equity in earnings of affiliates. As of March 31, 2024, the Company held 50% ownership interests in each of Armand and ArmaKleen, respectively. The Company’s equity in earnings of Armand and ArmaKleen, totaled $1.1 and $4.4 for the three months ended March 31, 2024 and 2023, respectively.

 

Certain subsidiaries that are included in the Consumer International segment manufacture and sell personal care products to the Consumer Domestic segment. These sales are eliminated from the Consumer International segment results set forth in the table below.

Segment net sales and income before income taxes are as follows:

 

Consumer

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

 

International

 

 

SPD

 

 

Corporate(3)

 

 

Total

 

Net Sales(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter of 2024

$

1,165.2

 

 

$

255.0

 

 

$

83.1

 

 

$

0.0

 

 

$

1,503.3

 

First Quarter of 2023

 

1,116.9

 

 

 

230.6

 

 

 

82.3

 

 

 

0.0

 

 

 

1,429.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before Income Taxes(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter of 2024

$

239.2

 

 

$

33.0

 

 

$

10.8

 

 

$

1.1

 

 

$

284.1

 

First Quarter of 2023

 

228.7

 

 

 

28.9

 

 

 

6.8

 

 

 

4.4

 

 

 

268.8

 

 

(1)
Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $5.6 and $3.6 for the three months ended March 31, 2024 and March 31, 2023, respectively.
(2)
In determining income before income taxes, interest expense, investment earnings and certain aspects of other income and expense were allocated among segments based upon each segment’s relative income from operations.
(3)
Corporate segment consists of equity in earnings of affiliates from Armand and ArmaKleen for the three months ended March 31, 2024 and March 31, 2023.

 

Product line revenues from external customers are as follows:

 

Three Months Ended

 

 

March 31,

 

 

March 31,

 

 

2024

 

 

2023

 

Household Products

$

638.9

 

 

$

601.6

 

Personal Care Products

 

526.3

 

 

 

515.3

 

Total Consumer Domestic

 

1,165.2

 

 

 

1,116.9

 

Total Consumer International

 

255.0

 

 

 

230.6

 

Total SPD

 

83.1

 

 

 

82.3

 

Total Consolidated Net Sales

$

1,503.3

 

 

$

1,429.8

 

 

Household Products include laundry, deodorizing and cleaning products. Personal Care Products include condoms, pregnancy kits, oral care products, skin care and hair care products, cold and remedy products, and gummy dietary supplements.