Sally Beauty (SBH) 10-Q 29 Jul 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2021	Jul. 23, 2021
Cover [Abstract]
Entity Registrant Name	SALLY BEAUTY HOLDINGS, INC.
Entity Central Index Key	0001368458
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Trading Symbol	SBH
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-33145
Entity Tax Identification Number	36-2257936
Entity Address, Address Line One	3001 Colorado Boulevard
Entity Address, City or Town	Denton
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76210
City Area Code	940
Local Phone Number	898-7500
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock, $0.01 par value
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		113,033,420
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 270,317	$ 514,151
Trade accounts receivable, net	44,660	35,590
Accounts receivable, other	31,779	20,839
Inventory	935,427	814,503
Other current assets	46,928	48,014
Total current assets	1,329,111	1,433,097
Property and equipment, net of accumulated depreciation of $764,875 at June 30, 2021, and $694,709 at September 30, 2020	283,033	315,029
Operating lease assets	540,480	525,634
Goodwill	546,284	540,038
Intangible assets, excluding goodwill, net of accumulated amortization of $37,847 at June 30, 2021, and $63,491 at September 30, 2020	55,651	58,283
Other assets	23,623	23,066
Total assets	2,778,182	2,895,147
Current liabilities:
Current maturities of long-term debt	181	180
Accounts payable	268,868	236,333
Accrued liabilities	213,099	170,665
Current operating lease liabilities	159,094	153,267
Income taxes payable	8,963	2,917
Total current liabilities	650,205	563,362
Long-term debt	1,383,145	1,796,897
Long-term operating lease liabilities	401,706	394,375
Other liabilities	30,008	32,976
Deferred income tax liabilities, net	90,848	92,094
Total liabilities	2,555,912	2,879,704
Stockholders’ equity:
Common stock, $0.01 par value. Authorized 500,000 shares; 113,033 and 112,824 shares issued and 112,780 and 112,405 shares outstanding at June 30, 2021, and September 30, 2020, respectively	1,128	1,124
Preferred stock, $0.01 par value. Authorized 50,000 shares; none issued
Additional paid-in capital	13,858	1,913
Accumulated earnings	288,818	117,109
Accumulated other comprehensive loss, net of tax	(81,534)	(104,703)
Total stockholders’ equity	222,270	15,443
Total liabilities and stockholders’ equity	$ 2,778,182	$ 2,895,147

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Statement Of Financial Position [Abstract]
Property and equipment, accumulated depreciation (in dollars)	$ 764,875	$ 694,709
Intangible assets, excluding goodwill, accumulated amortization (in dollars)	$ 37,847	$ 63,491
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, Authorized shares	500,000,000	500,000,000
Common stock, shares issued	113,033,000	112,824,000
Common stock, shares outstanding	112,780,000	112,405,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Authorized shares	50,000,000	50,000,000
Preferred stock, shares issued	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net sales	$ 1,022,387	$ 705,287	$ 2,884,737	$ 2,556,518
Cost of goods sold	507,981	383,441	1,432,378	1,330,067
Gross profit	514,406	321,846	1,452,359	1,226,451
Selling, general and administrative expenses	386,481	314,599	1,143,738	1,075,827
Restructuring	508	5,816	1,371	11,541
Operating earnings	127,417	1,431	307,250	139,083
Interest expense	23,452	27,298	73,313	70,483
Earnings (loss) before provision for income taxes	103,965	(25,867)	233,937	68,600
Provision (benefit) for income taxes	27,759	(2,341)	62,228	25,543
Net earnings (loss)	$ 76,206	$ (23,526)	$ 171,709	$ 43,057
Earnings (loss) per share:
Basic	$ 0.68	$ (0.21)	$ 1.52	$ 0.38
Diluted	$ 0.66	$ (0.21)	$ 1.50	$ 0.37
Weighted-average shares:
Basic	112,739	112,271	112,605	114,413
Diluted	114,927	112,271	114,274	115,370

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net earnings (loss)	$ 76,206	$ (23,526)	$ 171,709	$ 43,057
Other comprehensive income (loss):
Foreign currency translation adjustments	6,617	5,116	23,734	(3,707)
Interest rate caps, net of tax	471	245	646	274
Foreign exchange contracts, net of tax	(191)	(286)	(1,211)	1,552
Other comprehensive income (loss), net of tax	6,897	5,075	23,169	(1,881)
Total comprehensive income (loss)	$ 83,103	$ (18,451)	$ 194,878	$ 41,176

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect Period of Adoption Adjustment	Common Stock	Common StockCumulative Effect Period of Adoption Adjustment	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect Period of Adoption Adjustment	Accumulated Earnings (Deficit)	Accumulated Earnings (Deficit)Cumulative Effect Period of Adoption Adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect Period of Adoption Adjustment
Balance at Sep. 30, 2019	$ (60,323)	$ (445)	$ 1,167				$ 55,797	$ (445)	$ (117,287)
Balance (in shares) at Sep. 30, 2019			116,725
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201602Member		us-gaap:AccountingStandardsUpdate201602Member		us-gaap:AccountingStandardsUpdate201602Member		us-gaap:AccountingStandardsUpdate201602Member		us-gaap:AccountingStandardsUpdate201602Member
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	53,215						53,215
Other comprehensive income (loss)	14,870								14,870
Repurchases and cancellations of common stock	(11,357)		$ (7)		$ (6,237)		(5,113)
Repurchases and cancellations of common stock (in shares)			(766)
Share-based compensation	3,473				3,473
Stock issued for equity awards	2,766		$ 2		2,764
Stock issued for equity awards (in shares)			206
Balance at Dec. 31, 2019	2,199		$ 1,162				103,454		(102,417)
Balance (in shares) at Dec. 31, 2019			116,165
Balance at Sep. 30, 2019	(60,323)	$ (445)	$ 1,167				55,797	$ (445)	(117,287)
Balance (in shares) at Sep. 30, 2019			116,725
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	43,057
Other comprehensive income (loss)	(1,881)
Balance at Jun. 30, 2020	(69,133)		$ 1,123		2,513		46,399		(119,168)
Balance (in shares) at Jun. 30, 2020			112,280
Balance at Dec. 31, 2019	2,199		$ 1,162				103,454		(102,417)
Balance (in shares) at Dec. 31, 2019			116,165
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	13,368						13,368
Other comprehensive income (loss)	(21,826)								(21,826)
Repurchases and cancellations of common stock	(50,000)		$ (39)		(3,064)		(46,897)
Repurchases and cancellations of common stock (in shares)			(3,936)
Share-based compensation	3,059				3,059
Stock issued for equity awards	5				5
Stock issued for equity awards (in shares)			35
Balance at Mar. 31, 2020	(53,195)		$ 1,123				69,925		(124,243)
Balance (in shares) at Mar. 31, 2020			112,264
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	(23,526)						(23,526)
Other comprehensive income (loss)	5,075								5,075
Share-based compensation	2,562				2,562
Stock issued for stock options	(49)				(49)
Stock issued for stock options (in shares)			16
Balance at Jun. 30, 2020	(69,133)		$ 1,123		2,513		46,399		(119,168)
Balance (in shares) at Jun. 30, 2020			112,280
Balance at Sep. 30, 2020	$ 15,443		$ 1,124		1,913		117,109		(104,703)
Balance (in shares) at Sep. 30, 2020	112,405		112,405
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	$ 57,191						57,191
Other comprehensive income (loss)	23,588								23,588
Share-based compensation	2,893				2,893
Stock issued for equity awards	(249)		$ 1		(250)
Stock issued for equity awards (in shares)			133
Balance at Dec. 31, 2020	98,866		$ 1,125		4,556		174,300		(81,115)
Balance (in shares) at Dec. 31, 2020			112,538
Balance at Sep. 30, 2020	$ 15,443		$ 1,124		1,913		117,109		(104,703)
Balance (in shares) at Sep. 30, 2020	112,405		112,405
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	$ 171,709
Other comprehensive income (loss)	23,169
Balance at Jun. 30, 2021	$ 222,270		$ 1,128		13,858		288,818		(81,534)
Balance (in shares) at Jun. 30, 2021	112,780		112,780
Balance at Dec. 31, 2020	$ 98,866		$ 1,125		4,556		174,300		(81,115)
Balance (in shares) at Dec. 31, 2020			112,538
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	38,312						38,312
Other comprehensive income (loss)	(7,316)								(7,316)
Share-based compensation	2,648				2,648
Stock issued for equity awards	2,323		$ 2		2,321
Stock issued for equity awards (in shares)			141
Balance at Mar. 31, 2021	134,833		$ 1,127		9,525		212,612		(88,431)
Balance (in shares) at Mar. 31, 2021			112,679
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)	76,206						76,206
Other comprehensive income (loss)	6,897								6,897
Share-based compensation	2,617				2,617
Stock issued for equity awards	1,717		$ 1		1,716
Stock issued for equity awards (in shares)			101
Balance at Jun. 30, 2021	$ 222,270		$ 1,128		$ 13,858		$ 288,818		$ (81,534)
Balance (in shares) at Jun. 30, 2021	112,780		112,780

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net earnings	$ 171,709	$ 43,057
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	78,090	80,829
Share-based compensation expense	8,158	9,094
Amortization of deferred financing costs	3,280	2,965
Loss (gain) on early extinguishment of debt	2,449	(357)
Loss on disposal of equipment and other property	1,638	2,910
Deferred income taxes	(998)	600
Changes in (exclusive of effects of acquisitions):
Trade accounts receivable	(8,612)	495
Accounts receivable, other	(10,363)	45,888
Inventory	(108,317)	134,824
Other current assets	(931)	(15,840)
Other assets	1,578	(691)
Operating leases, net	(1,595)
Accounts payable and accrued liabilities	78,250	(35,572)
Income taxes payable	6,372	(7,154)
Other liabilities	(2,980)	13,336
Net cash provided by operating activities	217,728	274,384
Cash Flows from Investing Activities:
Payments for property and equipment, net of proceeds	(44,888)	(89,702)
Acquisitions, net of cash acquired	(2,351)	(1,944)
Net cash used by investing activities	(47,239)	(91,646)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt		1,087,504
Repayments of long-term debt	(418,986)	(437,391)
Debt issuance costs	(1,300)	(6,257)
Payments for common stock repurchased		(61,357)
Proceeds from equity awards	3,790	2,722
Net cash (used) provided by financing activities	(416,496)	585,221
Effect of foreign exchange rate changes on cash and cash equivalents	2,173	(643)
Net (decrease) increase in cash and cash equivalents	(243,834)	767,316
Cash and cash equivalents, beginning of period	514,151	71,495
Cash and cash equivalents, end of period	270,317	838,811
Supplemental Cash Flow Information:
Interest paid	86,293	74,046
Income taxes paid	53,764	45,292
Capital expenditures incurred but not paid	$ 2,098	$ 4,469

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The condensed consolidated interim financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC, although we believe that the disclosures included herein are adequate to make the information not misleading. These condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. In the opinion of management, these condensed consolidated interim financial statements reflect all adjustments that are of a normal recurring nature and which are necessary to present fairly our consolidated financial position as of June 30, 2021 and September 30, 2020, and our consolidated results of operations, consolidated comprehensive income, and consolidated statements of stockholders’ equity for the three and nine months ended June 30, 2021 and 2020, our consolidated cash flows for the nine months ended June 30, 2021 and 2020. Our operating results for the three and nine months ended June 30, 2021, may not be indicative of the results that may be expected for the full fiscal year ending September 30, 2021, in particular as a result of the uncertainty around the continuing effects of the COVID-19 pandemic on future periods. Due to the uncertainty over the duration and severity of the economic and operational impacts of COVID-19, the adverse impact of the pandemic may continue further into our fiscal year 2021 and possibly beyond, and it may be material.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies We adhere to the same accounting policies in the preparation of our condensed consolidated interim financial statements as we do in the preparation of our full year consolidated financial statements. As permitted under GAAP, interim accounting for certain expenses, including income taxes, is based on full-year assumptions. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Jun. 30, 2021
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	3. Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12 which simplifies the accounting for income taxes by removing an exception related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period with year to date losses and the recognition of deferred tax liabilities for outside basis differences. Additionally, the update clarifies and simplifies other areas of ASC 740, Income Taxes

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition	4. Revenue Recognition Substantially all of our revenue is derived through the sale of merchandise at the point-of-sale. Revenue is recognized net of estimated sales returns and sales taxes. We estimate sales returns based on historical data. Changes to our contract liabilities for the period were as follows (in thousands): September 30, 2020 $ 13,947 Loyalty points and gift cards issued but not redeemed, net of estimated breakage 11,950 Revenue recognized from beginning liability (9,391 ) June 30, 2021 $ 16,506 See Note 11, Business Segments

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Fair value on recurring basis Consistent with the three-level hierarchy defined in ASC Topic 820, Fair Value Measurement Classification Fair Value Hierarchy Level June 30, 2021 September 30, 2020 Financial Assets: Cash equivalents Cash and cash equivalents Level 1 $ — $ 194,612 Foreign exchange contracts Other current assets Level 2 1 — Interest rate caps Other assets Level 2 54 27 Total assets $ 55 $ 194,639 . Financial Liabilities: Foreign exchange contracts Accrued liabilities Level 2 $ 535 $ — Other fair value disclosures June 30, 2021 September 30, 2020 Fair Value Hierarchy Level Carrying Value Fair Value Carrying Value Fair Value Long-term debt, excluding capital leases Senior notes Level 1 $ 979,961 $ 1,029,810 $ 1,177,380 $ 1,217,707 Term loan B Level 2 414,375 413,339 635,788 619,397 Total long-term debt $ 1,394,336 $ 1,443,149 $ 1,813,168 $ 1,837,104 The table above excludes amounts, if any, related to our ABL facility as the balance approximates fair value due to the short-term nature of our borrowings.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Jun. 30, 2021
Stockholders Equity Note [Abstract]
Stockholders' Equity	6. Stockholders’ Equity Share Repurchases In August 2017, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to $1.0 billion of its common stock, subject to certain limitations governed by our debt agreements, over an approximate four-year Subsequent Event Information related to our shares repurchased and subsequently retired were as follows (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Number of shares repurchased — — — 4,702 Total cost of share repurchased $ — $ — $ — $ 61,357 Accumulated Other Comprehensive Loss The change in accumulated other comprehensive loss (“AOCL”) was as follows (in thousands): Foreign Currency Translation Adjustments Interest Rate Caps Foreign Exchange Contracts Total Balance at September 30, 2020 $ (102,111 ) $ (3,003 ) $ 411 $ (104,703 ) Other comprehensive income (loss) before reclassification, net of tax 23,734 (196 ) (1,072 ) 22,466 Reclassification to net earnings, net of tax — 842 (139 ) 703 Balance at June 30, 2021 $ (78,377 ) $ (2,357 ) $ (800 ) $ (81,534 ) The tax impact for the changes in other comprehensive loss and the reclassifications to net earnings was not material.

Weighted-Average Shares

Weighted-Average Shares	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Weighted-Average Shares	7. Weighted-Average Shares The following table sets forth the reconciliation of basic and diluted weighted-average shares (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Weighted-average basic shares 112,739 112,271 112,605 114,413 Dilutive securities: Stock option and stock award programs 2,188 — 1,669 957 Weighted-average diluted shares 114,927 112,271 114,274 115,370 Anti-dilutive options excluded from our computation of diluted shares 2,188 4,976 1,670 4,887 Potentially dilutive stock option and stock award programs excluded from our computation of diluted shares — 941 — —

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	8. Goodwill and Intangible Assets During the three months ended March 31, 2021, we completed our annual assessment for impairment of goodwill and other intangible assets. For goodwill, we used a qualitative analysis and our actual and forecasted results are exceeding the estimates from the last quantitative test . No material impairment losses were recognized in the current or prior periods presented in connection with our goodwill and other intangible assets. For the three months ended June 30, 2021 and 2020, amortization expense related to other intangible assets was $1.6 million and $2.2 million, respectively, and for the nine months ended June 30, 2021 and 2020, amortization expense was $5.0 million and $6.8 million, respectively. Additionally during the nine months ended June 30, 2021, the increase in goodwill was primarily from the effects of foreign currency exchange rates of $6.1 million.

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt	9 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	9. Short-term Borrowings and Long-term Debt At June 30, 2021, there were no outstanding borrowings under our ABL facility During the three months ended March 31, 2021, we paid the remaining $213.2 million of aggregate outstanding principal on our term loan B fixed tranche at par, excluding accrued interest. In connection with the debt repayment, we recognized a $1.4 million loss on the extinguishment of debt from the write-off of unamortized deferred financing costs On April 1, 2021, we called the entire outstanding balance of $197.4 million of our 5.50% senior notes due 2023 at par plus a premium. In connection with the repayment, we recognized losses on extinguishment of debt in the aggregate amount of $2.8 million, which included a $1.8 million call premium and the write-off of $1.0 million in unamortized deferred financing costs. On June 30, 2021, we elected to repay $8.3 million of aggregate outstanding principal on our term loan B variable tranche. This optional prepayment did not have any early prepayment penalties. In connection with the prepayment, we recognized a loss on extinguishment of debt of $0.1 million from the write-off of unamortized deferred financing costs. As of June 30, 2021, we still have $414.4 million remaining on our term loan B variable tranche. Covenants The agreements governing our ABL facility, term loan B and the senior notes contain a customary covenant package that places restrictions on the disposition of assets, the granting of liens and security interests, the prepayment of certain indebtedness, and other matters with customary events of default, including customary cross-default and/or cross-acceleration provisions. As of June 30, 2021, we were in compliance with all debt covenants, and all the net assets of our consolidated subsidiaries were unrestricted from transfer.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	10. Derivative Instruments and Hedging Activities During the nine months ended June 30, 2021, we did not purchase or hold any derivative instruments for trading or speculative purposes. See Note 5, Fair Value Measurements Designated Cash Flow Hedges Foreign Currency Forwards We regularly enter into foreign currency forwards to mitigate our exposure to exchange rate changes on inventory purchases in U.S. dollars by our foreign subsidiaries. At June 30, 2021, the notional amount we held through these forwards, based upon exchange rates at June 30, 2021, was as follows (in thousands): Notional Currency Notional Amount Euro $ 4,558 Mexican Peso 3,698 Canadian Dollar 1,393 Total $ 9,649 We record quarterly, net of income tax, the changes in fair value related to the foreign currency forwards into AOCL. As the forwards are exercised, the realized value is recognized into cost of goods sold based on inventory turns. For the three and nine months ended June 30, 2021, we recognized a loss of $0.3 million and a gain of $0.1 million, respectively, into cost of goods sold on our condensed consolidated statements of earnings. Based on June 30, 2021 valuations and exchange rates, we expect to reclassify losses of approximately $1.0 million into cost of goods sold over the next 12 months. Interest Rate Caps In July 2017, we purchased two interest rate caps with an initial aggregate notional amount of $550 million (the “interest rate caps”) to mitigate the exposure to higher interest rates in connection with our term loan B. The interest rate caps are comprised of individual caplets that expire ratably through June 30, 2023, and are designated as cash flow hedges. Accordingly, changes in fair value of the interest rate caps are recorded quarterly, net of income tax, and are included in AOCL. Over the next 12 months, we expect to reclassify approximately $1.6 million into interest expense, which represents the original value of the expiring caplets. The effects of our interest rate caps on our condensed consolidated statements of earnings were not material for the three and nine months ended June 30, 2021.

Business Segments

Business Segments	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Business Segments	11. Business Segments Segment data for the three and nine months ended June 30, 2021 and 2020, is as follows (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net sales: Sally Beauty Supply ("SBS") $ 602,681 $ 415,468 $ 1,693,015 $ 1,504,125 Beauty Systems Group ("BSG") 419,706 289,819 1,191,722 1,052,393 Total $ 1,022,387 $ 705,287 $ 2,884,737 $ 2,556,518 Earnings (loss) before provision for income taxes: Segment operating earnings: SBS $ 116,784 $ 3,087 $ 311,975 $ 133,684 BSG 55,265 40,084 151,680 143,557 Segment operating earnings 172,049 43,171 463,655 277,241 Unallocated expenses 44,124 35,924 155,034 126,617 Restructuring 508 5,816 1,371 11,541 Consolidated operating earnings 127,417 1,431 307,250 139,083 Interest expense 23,452 27,298 73,313 70,483 Earnings (loss) before provision for income taxes $ 103,965 $ (25,867 ) $ 233,937 $ 68,600 Sales between segments, which are eliminated in consolidation, were not material during the three and nine months ended June 30, 2021 and 2020. Disaggregation of net sales by segment Three Months Ended June 30, Nine Months Ended June 30, SBS 2021 2020 2021 2020 Hair color 35.6 % 36.6 % 35.3 % 33.8 % Hair care 18.9 % 16.3 % 18.8 % 19.0 % Skin and nail care 14.6 % 13.3 % 12.2 % 13.8 % Styling tools 11.6 % 13.6 % 14.3 % 13.0 % Salon supplies and accessories 7.6 % 9.1 % 7.7 % 7.5 % Textured hair products 5.8 % 4.7 % 5.9 % 5.1 % Other beauty items 5.9 % 6.4 % 5.8 % 7.8 % Total 100.0 % 100.0 % 100.0 % 100.0 % Three Months Ended June 30, Nine Months Ended June 30, BSG 2021 2020 2021 2020 Hair color 45.1 % 42.2 % 43.2 % 39.7 % Hair care 36.6 % 32.5 % 36.5 % 34.2 % Skin and nail care 6.8 % 8.2 % 7.3 % 8.2 % Styling tools 6.3 % 6.2 % 6.5 % 6.4 % Other beauty items 2.6 % 7.0 % 2.5 % 3.9 % Promotional items 2.6 % 3.9 % 4.0 % 7.6 % Total 100.0 % 100.0 % 100.0 % 100.0 % The following tables disaggregate our segment revenue by sales channels: Three Months Ended June 30, Nine Months Ended June 30, SBS 2021 2020 2021 2020 Company-operated stores 94.2 % 79.1 % 93.7 % 90.9 % E-commerce 5.7 % 20.8 % 6.2 % 8.9 % Franchise stores 0.1 % 0.1 % 0.1 % 0.2 % Total 100.0 % 100.0 % 100.0 % 100.0 % Three Months Ended June 30, Nine Months Ended June 30, BSG 2021 2020 2021 2020 Company-operated stores 69.2 % 63.9 % 69.7 % 68.2 % Distributor sales consultants 14.1 % 10.8 % 14.0 % 15.5 % E-commerce 8.8 % 17.4 % 8.8 % 8.9 % Franchise stores 7.9 % 7.9 % 7.5 % 7.4 % Total 100.0 % 100.0 % 100.0 % 100.0 %

Income Tax

Income Tax	9 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax	12. Income Tax For the three months ended June 30, 2021 and 2020, our effective tax rates were 26.7% and 9.1%, respectively. The effective tax rate for the third quarter of the prior year was negatively impacted by foreign losses for which a tax benefit could not be recognized. For the nine months ended June 30, 2021 and 2020, our effective tax rates were 26.6% and 37.2%, respectively. The decrease in the effective tax rate was primarily due to greater losses in the prior year from foreign subsidiaries for which a tax benefit could not be recognized and the establishment of a valuation allowance in a foreign subsidiary in the prior year. Refer to the following rate reconciliation for more details relating to the period over period differences in the effective tax rate: Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal tax benefit 3.2 2.9 3.3 3.9 Effect of foreign operations 1.1 4.6 0.9 (0.5 ) Foreign valuation allowances (1) 0.5 (13.0 ) 0.3 10.2 Deemed repatriation tax (1) — (1.1 ) — 0.4 Other, net (1) 0.9 (5.3 ) 1.1 2.2 Effective tax rate 26.7 % 9.1 % 26.6 % 37.2 % (1) For the three months ended June 30, 2020, the impact of these and certain other tax impacting items is opposite the customary relationship due to the loss before the provision for income taxes that was incurred. A lower effective tax rate is not beneficial in situations where a pre-tax book loss has been incurred.

Subsequent Event

Subsequent Event	9 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Event In 2017 the Board of Directors approved a share repurchase program authorizing us to repurchase up to $1.0 billion of our common stock through September 30, 2021. On July 22, 2021, the Board approved a term extension of the share repurchase program for the four-year

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Jun. 30, 2021
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	In December 2019, the FASB issued ASU No. 2019-12 which simplifies the accounting for income taxes by removing an exception related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period with year to date losses and the recognition of deferred tax liabilities for outside basis differences. Additionally, the update clarifies and simplifies other areas of ASC 740, Income Taxes

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Schedule of Changes to Contract Liabilities	Changes to our contract liabilities for the period were as follows (in thousands): September 30, 2020 $ 13,947 Loyalty points and gift cards issued but not redeemed, net of estimated breakage 11,950 Revenue recognized from beginning liability (9,391 ) June 30, 2021 $ 16,506

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities and other fair value disclosures by fair value hierarchy	Fair value on recurring basis Consistent with the three-level hierarchy defined in ASC Topic 820, Fair Value Measurement Classification Fair Value Hierarchy Level June 30, 2021 September 30, 2020 Financial Assets: Cash equivalents Cash and cash equivalents Level 1 $ — $ 194,612 Foreign exchange contracts Other current assets Level 2 1 — Interest rate caps Other assets Level 2 54 27 Total assets $ 55 $ 194,639 . Financial Liabilities: Foreign exchange contracts Accrued liabilities Level 2 $ 535 $ — Other fair value disclosures June 30, 2021 September 30, 2020 Fair Value Hierarchy Level Carrying Value Fair Value Carrying Value Fair Value Long-term debt, excluding capital leases Senior notes Level 1 $ 979,961 $ 1,029,810 $ 1,177,380 $ 1,217,707 Term loan B Level 2 414,375 413,339 635,788 619,397 Total long-term debt $ 1,394,336 $ 1,443,149 $ 1,813,168 $ 1,837,104

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Jun. 30, 2021
Stockholders Equity Note [Abstract]
Schedule of Shares Repurchased and Subsequently Retired	Information related to our shares repurchased and subsequently retired were as follows (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Number of shares repurchased — — — 4,702 Total cost of share repurchased $ — $ — $ — $ 61,357
Schedule of changes in accumulated other comprehensive loss	The change in accumulated other comprehensive loss (“AOCL”) was as follows (in thousands): Foreign Currency Translation Adjustments Interest Rate Caps Foreign Exchange Contracts Total Balance at September 30, 2020 $ (102,111 ) $ (3,003 ) $ 411 $ (104,703 ) Other comprehensive income (loss) before reclassification, net of tax 23,734 (196 ) (1,072 ) 22,466 Reclassification to net earnings, net of tax — 842 (139 ) 703 Balance at June 30, 2021 $ (78,377 ) $ (2,357 ) $ (800 ) $ (81,534 )

Weighted-Average Shares (Tables

Weighted-Average Shares (Tables)	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of reconciliation of basic and diluted weighted-average shares	The following table sets forth the reconciliation of basic and diluted weighted-average shares (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Weighted-average basic shares 112,739 112,271 112,605 114,413 Dilutive securities: Stock option and stock award programs 2,188 — 1,669 957 Weighted-average diluted shares 114,927 112,271 114,274 115,370 Anti-dilutive options excluded from our computation of diluted shares 2,188 4,976 1,670 4,887 Potentially dilutive stock option and stock award programs excluded from our computation of diluted shares — 941 — —

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Jun. 30, 2021
Foreign Currency Forwards
Schedule of notional amount held through foreign currency forwards, based upon exchange rates	At June 30, 2021, the notional amount we held through these forwards, based upon exchange rates at June 30, 2021, was as follows (in thousands): Notional Currency Notional Amount Euro $ 4,558 Mexican Peso 3,698 Canadian Dollar 1,393 Total $ 9,649

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of segment data	Segment data for the three and nine months ended June 30, 2021 and 2020, is as follows (in thousands): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net sales: Sally Beauty Supply ("SBS") $ 602,681 $ 415,468 $ 1,693,015 $ 1,504,125 Beauty Systems Group ("BSG") 419,706 289,819 1,191,722 1,052,393 Total $ 1,022,387 $ 705,287 $ 2,884,737 $ 2,556,518 Earnings (loss) before provision for income taxes: Segment operating earnings: SBS $ 116,784 $ 3,087 $ 311,975 $ 133,684 BSG 55,265 40,084 151,680 143,557 Segment operating earnings 172,049 43,171 463,655 277,241 Unallocated expenses 44,124 35,924 155,034 126,617 Restructuring 508 5,816 1,371 11,541 Consolidated operating earnings 127,417 1,431 307,250 139,083 Interest expense 23,452 27,298 73,313 70,483 Earnings (loss) before provision for income taxes $ 103,965 $ (25,867 ) $ 233,937 $ 68,600
Schedule of disaggregation of net sales by segment	Disaggregation of net sales by segment Three Months Ended June 30, Nine Months Ended June 30, SBS 2021 2020 2021 2020 Hair color 35.6 % 36.6 % 35.3 % 33.8 % Hair care 18.9 % 16.3 % 18.8 % 19.0 % Skin and nail care 14.6 % 13.3 % 12.2 % 13.8 % Styling tools 11.6 % 13.6 % 14.3 % 13.0 % Salon supplies and accessories 7.6 % 9.1 % 7.7 % 7.5 % Textured hair products 5.8 % 4.7 % 5.9 % 5.1 % Other beauty items 5.9 % 6.4 % 5.8 % 7.8 % Total 100.0 % 100.0 % 100.0 % 100.0 % Three Months Ended June 30, Nine Months Ended June 30, BSG 2021 2020 2021 2020 Hair color 45.1 % 42.2 % 43.2 % 39.7 % Hair care 36.6 % 32.5 % 36.5 % 34.2 % Skin and nail care 6.8 % 8.2 % 7.3 % 8.2 % Styling tools 6.3 % 6.2 % 6.5 % 6.4 % Other beauty items 2.6 % 7.0 % 2.5 % 3.9 % Promotional items 2.6 % 3.9 % 4.0 % 7.6 % Total 100.0 % 100.0 % 100.0 % 100.0 % The following tables disaggregate our segment revenue by sales channels: Three Months Ended June 30, Nine Months Ended June 30, SBS 2021 2020 2021 2020 Company-operated stores 94.2 % 79.1 % 93.7 % 90.9 % E-commerce 5.7 % 20.8 % 6.2 % 8.9 % Franchise stores 0.1 % 0.1 % 0.1 % 0.2 % Total 100.0 % 100.0 % 100.0 % 100.0 % Three Months Ended June 30, Nine Months Ended June 30, BSG 2021 2020 2021 2020 Company-operated stores 69.2 % 63.9 % 69.7 % 68.2 % Distributor sales consultants 14.1 % 10.8 % 14.0 % 15.5 % E-commerce 8.8 % 17.4 % 8.8 % 8.9 % Franchise stores 7.9 % 7.9 % 7.5 % 7.4 % Total 100.0 % 100.0 % 100.0 % 100.0 %

Income Tax (Tables)

Income Tax (Tables)	9 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Reconciliation for More Details Relating to Period Over Period Differences in Effective Tax Rate	Refer to the following rate reconciliation for more details relating to the period over period differences in the effective tax rate: Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal tax benefit 3.2 2.9 3.3 3.9 Effect of foreign operations 1.1 4.6 0.9 (0.5 ) Foreign valuation allowances (1) 0.5 (13.0 ) 0.3 10.2 Deemed repatriation tax (1) — (1.1 ) — 0.4 Other, net (1) 0.9 (5.3 ) 1.1 2.2 Effective tax rate 26.7 % 9.1 % 26.6 % 37.2 % (1) For the three months ended June 30, 2020, the impact of these and certain other tax impacting items is opposite the customary relationship due to the loss before the provision for income taxes that was incurred. A lower effective tax rate is not beneficial in situations where a pre-tax book loss has been incurred.

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Changes to Contract Liabilities (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2021USD ($)
Contract With Customer Liability [Abstract]
Beginning balance	$ 13,947
Loyalty points and gift cards issued but not redeemed, net of estimated breakage	11,950
Revenue recognized from beginning liability	(9,391)
Ending balance	$ 16,506

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 23, 2021	Jun. 30, 2021	Sep. 30, 2020
Long-term debt, excluding capital leases
Long-term debt, excluding capital leases, Carrying Value	$ 1,394,336		$ 1,813,168
Long-term debt, excluding capital leases, Fair Value		$ 1,443,149	1,837,104
Level 1 | Senior notes
Long-term debt, excluding capital leases
Long-term debt, excluding capital leases, Carrying Value	979,961		1,177,380
Long-term debt, excluding capital leases, Fair Value		1,029,810	1,217,707
Level 2 | Term loan B
Long-term debt, excluding capital leases
Long-term debt, excluding capital leases, Carrying Value	$ 414,375		635,788
Long-term debt, excluding capital leases, Fair Value		413,339	619,397
Fair value measurement on recurring basis
Financial Assets:
Total assets		55	194,639
Fair value measurement on recurring basis | Level 1 | Cash and cash equivalents
Financial Assets:
Cash equivalents			194,612
Fair value measurement on recurring basis | Level 2 | Other current assets
Financial Assets:
Foreign exchange contracts		1
Fair value measurement on recurring basis | Level 2 | Other assets
Financial Assets:
Interest rate caps		54	$ 27
Fair value measurement on recurring basis | Level 2 | Accrued Liabilities
Financial Liabilities:
Foreign exchange contracts		$ 535

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Program (Details) - 2017 Share Repurchase program	1 Months Ended
	Aug. 31, 2017USD ($)
Share Repurchase Program
Amount of shares authorized to be repurchased	$ 1,000,000,000
Term of share repurchase program	4 years
Stock repurchase program, expiration date	Sep. 30, 2021

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Shares Repurchased and Subsequently Retired (Details) shares in Thousands, $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)shares
Stockholders Equity Note [Abstract]
Number of shares repurchased | shares	4,702
Total cost of share repurchased | $	$ 61,357

Stockholders' Equity - Change i

Stockholders' Equity - Change in AOCL (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2021USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	$ 15,443
Balance	222,270
Interest rate caps
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(3,003)
Other comprehensive income (loss) before reclassification, net of tax	(196)
Reclassification to net earnings, net of tax	842
Balance	(2,357)
Foreign exchange contracts
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	411
Other comprehensive income (loss) before reclassification, net of tax	(1,072)
Reclassification to net earnings, net of tax	(139)
Balance	(800)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(102,111)
Other comprehensive income (loss) before reclassification, net of tax	23,734
Balance	(78,377)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(104,703)
Other comprehensive income (loss) before reclassification, net of tax	22,466
Reclassification to net earnings, net of tax	703
Balance	$ (81,534)

Weighted-Average Shares (Detail

Weighted-Average Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share Reconciliation:
Weighted-average basic shares	112,739	112,271	112,605	114,413
Dilutive securities:
Stock option and stock award programs	2,188		1,669	957
Weighted-average diluted shares	114,927	112,271	114,274	115,370
Anti-dilutive options excluded from our computation of diluted shares	2,188	4,976	1,670	4,887
Potentially dilutive stock option and stock award programs excluded from our computation of diluted shares		941

Goodwill and Intangible Assets

Goodwill and Intangible Assets - (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment losses in connection with the goodwill			$ 0	$ 0
Impairment losses in connection with the intangible assets			0	0
Amortization expense related to other intangible assets	$ 1,600,000	$ 2,200,000	5,000,000	$ 6,800,000
Goodwill, increased from effects of foreign currency exchange rates			$ 6,100,000

Short-term Borrowings and Lon_2

Short-term Borrowings and Long-term Debt - ABL Facility and Canadian Sub-Facility (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Debt Instruments
Remaining aggregate outstanding principal amount paid		$ 213,200,000	$ 418,986,000	$ 437,391,000
Loss on extinguishment of debt from write-off of unamortized deferred financing costs		$ (1,400,000)	(2,449,000)	$ 357,000
ABL facility
Debt Instruments
Outstanding borrowing	$ 0		0
Revolving credit facility	$ 481,700,000		481,700,000
Debt instrument, maturity date	May 11, 2026
Debt issuance cost before amortization	$ 1,300,000		$ 1,300,000

Short-term Borrowings and Lon_3

Short-term Borrowings and Long-term Debt - (Details) - USD ($) $ in Thousands	Apr. 01, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Debt Instruments
Loss on extinguishment of debt from write-off of unamortized deferred financing costs		$ (1,400)	$ (2,449)	$ 357
Remaining aggregate outstanding principal amount paid		$ 213,200	418,986	$ 437,391
Senior notes due Nov. 2023
Debt Instruments
Outstanding balance amount	$ 197,400
Interest rate	5.50%
Loss on extinguishment of debt from write-off of unamortized deferred financing costs	$ (2,800)
Call premium	1,800
Write off of unamortized debt issuance costs	$ 1,000
Term Loan B
Debt Instruments
Loss on extinguishment of debt from write-off of unamortized deferred financing costs			(100)
Remaining aggregate outstanding principal amount paid			8,300
Revolving credit facility			$ 414,400

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2021USD ($)instrument	Jun. 30, 2021USD ($)instrument	Jul. 31, 2017USD ($)derivative
Derivative Instruments
Number of derivative instruments held | instrument	0	0
Foreign Currency Forwards
Derivative Instruments
Notional Amount	$ 9,649,000	$ 9,649,000
Interest rate caps | Variable-rate tranche | Sally Holdings, LLC
Derivative Instruments
Notional Amount			$ 550,000,000
Derivative instruments, expiration date		Jun. 30, 2023
Number of interest rate caps | derivative			2
Interest rate caps | Term loan B variable tranche | Sally Holdings, LLC
Derivative Instruments
Interest rate caps designated as cash flow hedges to be reclassified into interest expense over next 12 months	1,600,000	$ 1,600,000
Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Forwards
Derivative Instruments
Foreign currency forwards designated as cash flow hedges to be reclassified gain (loss) into cost of goods sold	(300,000)	100,000
Foreign currency forwards designated as cash flow hedges to be reclassified losses into cost of goods sold over next 12 months	$ 1,000,000	$ 1,000,000

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Notional Amount Held Through Foreign Currency Forwards, Based Upon Exchange Rates (Details) $ in Thousands	Jun. 30, 2021USD ($)
Foreign Currency Forwards
Foreign Currency Fair Value Hedge Derivative [Line Items]
Notional Amount	$ 9,649
Euro
Foreign Currency Fair Value Hedge Derivative [Line Items]
Notional Amount	4,558
Mexican Peso
Foreign Currency Fair Value Hedge Derivative [Line Items]
Notional Amount	3,698
Canadian Dollar
Foreign Currency Fair Value Hedge Derivative [Line Items]
Notional Amount	$ 1,393

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales:
Total net sales	$ 1,022,387	$ 705,287	$ 2,884,737	$ 2,556,518
Segment operating earnings:
Segment operating earnings	127,417	1,431	307,250	139,083
Restructuring	508	5,816	1,371	11,541
Interest expense	23,452	27,298	73,313	70,483
Earnings (loss) before provision for income taxes	103,965	(25,867)	233,937	68,600
Operating segments
Segment operating earnings:
Segment operating earnings	172,049	43,171	463,655	277,241
Corporate
Segment operating earnings:
Unallocated expenses	44,124	35,924	155,034	126,617
Sally Beauty Supply
Net sales:
Total net sales	602,681	415,468	1,693,015	1,504,125
Sally Beauty Supply | Operating segments
Segment operating earnings:
Segment operating earnings	116,784	3,087	311,975	133,684
Beauty Systems Group
Net sales:
Total net sales	419,706	289,819	1,191,722	1,052,393
Beauty Systems Group | Operating segments
Segment operating earnings:
Segment operating earnings	$ 55,265	$ 40,084	$ 151,680	$ 143,557

Business Segments - Schedule of

Business Segments - Schedule of Disaggregation of Net Sales by Segment (Details) - Sales Revenue, Net	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Sally Beauty Supply
Disaggregation Of Revenue [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%	100.00%
Sally Beauty Supply | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%	100.00%
Sally Beauty Supply | Hair color | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	35.60%	36.60%	35.30%	33.80%
Sally Beauty Supply | Hair care | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	18.90%	16.30%	18.80%	19.00%
Sally Beauty Supply | Skin and nail care | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	14.60%	13.30%	12.20%	13.80%
Sally Beauty Supply | Styling tools | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	11.60%	13.60%	14.30%	13.00%
Sally Beauty Supply | Salon supplies and accessories | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	7.60%	9.10%	7.70%	7.50%
Sally Beauty Supply | Textured hair products | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	5.80%	4.70%	5.90%	5.10%
Sally Beauty Supply | Other Beauty items | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	5.90%	6.40%	5.80%	7.80%
Sally Beauty Supply | Sales channel, directly to consumer | Company-operated stores
Disaggregation Of Revenue [Line Items]
Percentage of net sales	94.20%	79.10%	93.70%	90.90%
Sally Beauty Supply | Sales channel, through intermediary | E-commerce
Disaggregation Of Revenue [Line Items]
Percentage of net sales	5.70%	20.80%	6.20%	8.90%
Sally Beauty Supply | Sales channel, through intermediary | Franchise stores
Disaggregation Of Revenue [Line Items]
Percentage of net sales	0.10%	0.10%	0.10%	0.20%
Beauty Systems Group
Disaggregation Of Revenue [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%	100.00%
Beauty Systems Group | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	100.00%	100.00%	100.00%	100.00%
Beauty Systems Group | Hair color | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	45.10%	42.20%	43.20%	39.70%
Beauty Systems Group | Hair care | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	36.60%	32.50%	36.50%	34.20%
Beauty Systems Group | Skin and nail care | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	6.80%	8.20%	7.30%	8.20%
Beauty Systems Group | Styling tools | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	6.30%	6.20%	6.50%	6.40%
Beauty Systems Group | Other Beauty items | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	2.60%	7.00%	2.50%	3.90%
Beauty Systems Group | Promotional items | Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Percentage of net sales	2.60%	3.90%	4.00%	7.60%
Beauty Systems Group | Sales channel, directly to consumer | Company-operated stores
Disaggregation Of Revenue [Line Items]
Percentage of net sales	69.20%	63.90%	69.70%	68.20%
Beauty Systems Group | Sales channel, through intermediary | E-commerce
Disaggregation Of Revenue [Line Items]
Percentage of net sales	8.80%	17.40%	8.80%	8.90%
Beauty Systems Group | Sales channel, through intermediary | Franchise stores
Disaggregation Of Revenue [Line Items]
Percentage of net sales	7.90%	7.90%	7.50%	7.40%
Beauty Systems Group | Sales channel, through intermediary | Distributor sales consultants
Disaggregation Of Revenue [Line Items]
Percentage of net sales	14.10%	10.80%	14.00%	15.50%

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	26.70%	9.10%	26.60%	37.20%

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation for More Details Relating to Period Over Period Differences in Effective Tax Rate (Details)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefit	3.20%	2.90%	3.30%	3.90%
Effect of foreign operations	1.10%	4.60%	0.90%	(0.50%)
Foreign valuation allowances	0.50%	(13.00%)	0.30%	10.20%
Deemed repatriation tax		(1.10%)		0.40%
Other, net	0.90%	(5.30%)	1.10%	2.20%
Effective tax rate	26.70%	9.10%	26.60%	37.20%

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - 2017 Share Repurchase program - USD ($)	Jul. 22, 2021	Aug. 31, 2017
Subsequent Event [Line Items]
Stock repurchase program, expiration date		Sep. 30, 2021
Amount of shares authorized to be repurchased		$ 1,000,000,000
Term of share repurchase program		4 years
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, expiration date	Sep. 30, 2025
Term of share repurchase program	4 years
Amount of shares remaining, authorized to be repurchased	$ 726,100,000