NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ended March 31, 2019 | | | | | |
| | | Reported | Reported | | Normalized | Normalized |
| | | Operating | Operating | Excluded | Proforma | Proforma |
| | Net Sales | Income (Loss) | Margin | Items [1] [2] | Operating Income (Loss) | Operating Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | $ | 330 | | $ | (4) | | (1.2)% | $ | 2 | | $ | (2) | | (0.6)% |
| COMMERCIAL SOLUTIONS | | 414 | | (8) | | (1.9)% | 57 | | 49 | | 11.8% |
| HOME SOLUTIONS | | 371 | | (5) | | (1.3)% | 13 | | 8 | | 2.2% |
| LEARNING AND DEVELOPMENT | | 581 | | 89 | | 15.3% | 5 | | 94 | | 16.2% |
| OUTDOOR AND RECREATION | | 346 | | 12 | | 3.5% | 7 | | 19 | | 5.5% |
| CORPORATE | | — | | (61) | | —% | 17 | | (44) | | —% |
| RESTRUCTURING | | — | | (11) | | —% | 11 | | — | | —% |
| | | | | | | |
| | $ | 2,042 | | $ | 12 | | 0.6% | $ | 112 | | $ | 124 | | 6.1% |
1.Excluded items consist of $63 million of impairment charges for goodwill; $33 million of acquisition amortization costs; $18 million of restructuring and restructuring-related charges; $7 million of transaction-related costs and other charges of $2 million, primarily related to Argentina hyperinflationary adjustment and fees for certain legal proceedings.
2.Normalized proforma operating income (loss) and margin reflect an adjustment within excluded items for depreciation and amortization expense of $11 million related to the Rubbermaid Outdoor, Closet, Refuse, Garage and Cleaning businesses (the “Commercial Business”) and the Mapa and Quickie businesses in the Commercial Solutions segment that would have been recorded had they been continuously classified as held and used.
NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ended June 30, 2019 | | | | | |
| | | Reported | Reported | | Normalized | Normalized |
| | | Operating | Operating | Excluded | Proforma | Proforma |
| | Net Sales | Income (Loss) | Margin | Items [3] [4] | Operating Income (Loss) | Operating Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | $ | 362 | | $ | 6 | | 1.7% | $ | 3 | | $ | 9 | | 2.5% |
| COMMERCIAL SOLUTIONS | | 454 | | 53 | | 11.7% | 7 | | 60 | | 13.2% |
| HOME SOLUTIONS | | 372 | | 4 | | 1.1% | 12 | | 16 | | 4.3% |
| LEARNING AND DEVELOPMENT | | 849 | | 217 | | 25.6% | 4 | | 221 | | 26.0% |
| OUTDOOR AND RECREATION | | 443 | | 40 | | 9.0% | 13 | | 53 | | 12.0% |
| CORPORATE | | — | | (81) | | —% | 25 | | (56) | | —% |
| RESTRUCTURING | | — | | (8) | | —% | 8 | | — | | —% |
| | | | | | | |
| | $ | 2,480 | | $ | 231 | | 9.3% | $ | 72 | | $ | 303 | | 12.2% |
3.Excluded items consist of $32 million of acquisition amortization costs; $17 million of restructuring and restructuring-related charges; $14 million of impairment charges for goodwill and other assets; other charges of $10 million, primarily related to Argentina hyperinflationary adjustment, fees for certain legal proceedings and product recall costs and $9 million of transaction-related costs.
4.Normalized proforma operating income (loss) and margin reflect an adjustment within excluded items for depreciation and amortization expense of $10 million related to Commercial Business, and the Mapa and Quickie businesses in the Commercial Solutions segment that would have been recorded had they been continuously classified as held and used.
NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ended September 30, 2019 | | | | | |
| | | Reported | Reported | | Normalized | Normalized |
| | | Operating | Operating | Excluded | Proforma | Proforma |
| | Net Sales | Income (Loss) | Margin | Items [5] [6] | Operating Income (Loss) | Operating Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | 430 | | (595) | | (138.4)% | 613 | | 18 | | 4.2% |
| COMMERCIAL SOLUTIONS | | 475 | | (216) | | (45.5)% | 285 | | 69 | | 14.5% |
| HOME SOLUTIONS | | 484 | | (112) | | (23.1)% | 172 | | 60 | | 12.4% |
| LEARNING AND DEVELOPMENT | | 824 | | 182 | | 22.1% | 8 | | 190 | | 23.1% |
| OUTDOOR AND RECREATION | | 356 | | (41) | | (11.5)% | 78 | | 37 | | 10.4% |
| CORPORATE | | — | | (72) | | —% | 25 | | (47) | | —% |
| RESTRUCTURING | | — | | (3) | | —% | 3 | | — | | —% |
| | | | | | | |
| | $ | 2,569 | | $ | (857) | | (33.4)% | $ | 1,184 | | $ | 327 | | 12.7% |
5.Excluded items consist of $1.1 billion of impairment charges for goodwill, intangible assets and other assets; cumulative depreciation and amortization catch-up of $40 million; $32 million of acquisition amortization costs; $28 million of restructuring and restructuring-related charges; $9 million of transaction-related costs and other charges of $6 million, primarily related to Argentina hyperinflationary adjustment, fees for certain legal proceedings and product recall costs.
6.Normalized proforma operating income (loss) and margin reflect an adjustment within excluded items for depreciation and amortization expense of $2 million related to the Mapa and Quickie businesses in the Commercial Solutions segment that would have been recorded had they been continuously classified as held and used.
NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ended December 31, 2019 | | | | | |
| | | Reported | Reported | | | |
| | | Operating | Operating | Excluded | Normalized | Normalized |
| | Net Sales | Income (Loss) | Margin | Items [7] | Operating Income (Loss) | Operating Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | 570 | | 58 | | 10.2% | (4) | | 54 | | 9.5% |
| COMMERCIAL SOLUTIONS | | 436 | | 35 | | 8.0% | 16 | | 51 | | 11.7% |
| HOME SOLUTIONS | | 648 | | 96 | | 14.8% | 16 | | 112 | | 17.3% |
| LEARNING AND DEVELOPMENT | | 702 | | 99 | | 14.1% | 29 | | 128 | | 18.2% |
| OUTDOOR AND RECREATION | | 268 | | (74) | | (27.6)% | 72 | | (2) | | (0.7)% |
| CORPORATE | | — | | (77) | | —% | 29 | | (48) | | —% |
| RESTRUCTURING | | — | | (5) | | —% | 5 | | — | | —% |
| | | | | | | |
| | 2,624 | | 132 | | 5.0% | 163 | | 295 | | 11.2% |
7.Excluded items consist of $75 million of impairment charges for goodwill, intangible assets and other assets; $34 million of acquisition amortization costs; $19 million of restructuring and restructuring-related charges; cumulative depreciation and amortization catch-up of $15 million; other charges of $15 million, primarily related to Argentina hyperinflationary adjustment, fees for certain legal proceedings and product recall costs and $5 million of transaction-related costs.
NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the twelve months ended December 31, 2019 | | | | | |
| | | Reported | Reported | | Normalized | Normalized |
| | | Operating | Operating | Excluded | Proforma | Proforma |
| | Net Sales | Income (Loss) | Margin | Items [8] [9] | Operating Income (Loss) | Operating Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | 1,692 | | (535) | | (31.6)% | 614 | | 79 | | 4.7% |
| COMMERCIAL SOLUTIONS | | 1,779 | | (136) | | (7.6)% | 365 | | 229 | | 12.9% |
| HOME SOLUTIONS | | 1,875 | | (17) | | (0.9)% | 213 | | 196 | | 10.5% |
| LEARNING AND DEVELOPMENT | | 2,956 | | 587 | | 19.9% | 46 | | 633 | | 21.4% |
| OUTDOOR AND RECREATION | | 1,413 | | (63) | | (4.5)% | 170 | | 107 | | 7.6% |
| CORPORATE | | — | | (291) | | —% | 96 | | (195) | | —% |
| RESTRUCTURING | | — | | (27) | | —% | 27 | | — | | —% |
| | | | | | | |
| | $ | 9,715 | | $ | (482) | | (5.0)% | $ | 1,531 | | $ | 1,049 | | 10.8% |
8.Excluded items consist of $1.2 billion of impairment charges for goodwill, intangible assets and other assets; $131 million of acquisition amortization costs; $82 million of restructuring and restructuring-related charges; cumulative depreciation and amortization catch-up of $55 million; other charges of $33 million, primarily related to Argentina hyperinflationary adjustment, fees for certain legal proceedings and product recall costs and $30 million of transaction-related costs.
9.Normalized proforma operating income (loss) and margin reflect an adjustment within excluded items for depreciation and amortization expense of $23 million related to Commercial Business, and the Mapa and Quickie businesses in the Commercial Solutions segment that would have been recorded had they been continuously classified as held and used.
NEWELL BRANDS INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)
FINANCIAL WORKSHEET - SEGMENT REPORTING
(Amounts in millions)
| | | | | | | | | | | | | | | | | | | | | | | |
| | For the three months ended March 31, 2020 | | | | | |
| | | Reported | Reported | | Normalized | Normalized |
| | | Operating | Operating | Excluded | Operating | Operating |
| | Net Sales | Income (Loss) | Margin | Items [10] | Income (Loss) | Margin |
| | | | | | | |
| APPLIANCES AND COOKWARE | | 291 | | (308) | | (105.8)% | 301 | | (7) | | (2.4)% |
| COMMERCIAL SOLUTIONS | | 413 | | (272) | | (65.9)% | 323 | | 51 | | 12.3% |
| HOME SOLUTIONS | | 347 | | (291) | | (83.9)% | 305 | | 14 | | 4.0% |
| LEARNING AND DEVELOPMENT | | 528 | | 5 | | 0.9% | 81 | | 86 | | 16.3% |
| OUTDOOR AND RECREATION | | 307 | | (474) | | (154.4)% | 489 | | 15 | | 4.9% |
| CORPORATE | | — | | (66) | | —% | 20 | | (46) | | —% |
| RESTRUCTURING | | — | | (2) | | —% | 2 | | — | | —% |
| | | | | | | |
| | $ | 1,886 | | $ | (1,408) | | (74.7)% | $ | 1,521 | | $ | 113 | | 6.0% |
10.Excluded items consist of $1.5 billion of impairment charges for goodwill, intangible assets and other assets; $31 million of acquisition amortization costs; $6 million of restructuring and restructuring-related charges; other charges of $8 million, primarily related to Argentina hyperinflationary adjustment, product recall costs and fees for certain legal proceedings and $1 million of transaction-related costs.
