Energizer Holdings, Inc 8-K, filed Feb 9, 2022
Energizer Holdings, Inc. (ENR)
8-K
2022-02-09
For: 2022-02-09
View Original
Added on
April 10, 2026
About this 8-K
Energizer Holdings, Inc filed this 8-K on February 9, 2022.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 9, 2022
_____________________________________________________________________________________
(Exact Name of Registrant as Specified in its Charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||||||||
(Address of principal executive offices)
Registrant’s telephone number, including area code: (314 ) 985-2000
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
As of October 1, 2021, Energizer Holdings, Inc. (the Company) has changed its reportable segments from two geographical segments, previously Americas and International, to two product groupings, Battery & Lights and Auto Care. For informational purposes, included in Exhibit 99.1 to this Current Report on Form 8-K, is the Company’s historical unaudited segment financial information recast to reflect the aforementioned changes for the fiscal year ended September 30, 2021 and each of the four quarters of fiscal year 2021.
The information furnished in this report, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| Supplemental Information - Historical Recast of Segment Information | ||||||||
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language). | |||||||
| 104 | Cover Page Interactive Data File (formatted in iXBRL in Exhibit 101). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
ENERGIZER HOLDINGS, INC.
By: /s/ John J. Drabik
John J. Drabik
Executive Vice President and Chief Financial Officer
Dated: February 9, 2022
Exhibit 99.1
| Energizer Holdings, Inc. | ||
| Supplemental Schedules - Segment Information | ||
| Fiscal Year 2021 Quarterly Segment Recast Data | ||
| (In millions - Unaudited) | ||
As of October 1, 2021, the Company changed its reportable operating segments from two geographical segments, previously Americas and International, to two product groupings, Battery & Lights and Auto Care. This change came with the completion of the Battery and Auto Care Acquisition integrations in fiscal 2022. The Company changed its reporting structure to better reflect what the chief operating decision maker is reviewing to make organizational decisions and resource allocations. For informational purposes only, the Company has recast the segment information for both the quarters and full fiscal year 2021 below to align with this presentation.
| Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||
| December 31, 2020 | March 31, 2021 | March 31, 2021 | June 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||
| Net Sales | |||||||||||||||||||||||||||||||||||||||||
| Batteries & Lights | $ | 743.9 | $ | 542.9 | $ | 1,286.8 | $ | 512.7 | $ | 1,799.5 | $ | 603.3 | $ | 2,402.8 | |||||||||||||||||||||||||||
| Auto Care | 104.7 | 142.2 | 246.9 | 209.1 | 456.0 | 162.7 | 618.7 | ||||||||||||||||||||||||||||||||||
| Total net sales | $ | 848.6 | $ | 685.1 | $ | 1,533.7 | $ | 721.8 | $ | 2,255.5 | $ | 766.0 | $ | 3,021.5 | |||||||||||||||||||||||||||
| Segment Profit (1) | |||||||||||||||||||||||||||||||||||||||||
| Batteries & Lights | $ | 180.5 | $ | 125.4 | $ | 305.9 | $ | 113.9 | $ | 419.8 | $ | 133.8 | $ | 553.6 | |||||||||||||||||||||||||||
| Auto Care | 18.3 | 28.9 | 47.2 | 31.7 | 78.9 | 19.3 | 98.2 | ||||||||||||||||||||||||||||||||||
| Total segment profit | $ | 198.8 | $ | 154.3 | $ | 353.1 | $ | 145.6 | $ | 498.7 | $ | 153.1 | $ | 651.8 | |||||||||||||||||||||||||||
| General corporate and other expenses (2) | (24.0) | (25.8) | (49.8) | (21.5) | (71.3) | (24.7) | (96.0) | ||||||||||||||||||||||||||||||||||
| Amortization of intangible assets | (15.5) | (15.3) | (30.8) | (15.2) | (46.0) | (15.2) | (61.2) | ||||||||||||||||||||||||||||||||||
| Acquisition and integration costs (3) | (18.3) | (16.8) | (35.1) | (19.5) | (54.6) | (14.3) | (68.9) | ||||||||||||||||||||||||||||||||||
| Acquisition earn out (4) | — | (1.1) | (1.1) | (1.2) | (2.3) | (1.1) | (3.4) | ||||||||||||||||||||||||||||||||||
| Loss on extinguishment of debt | (5.7) | (70.0) | (75.7) | (27.6) | (103.3) | — | (103.3) | ||||||||||||||||||||||||||||||||||
| Interest expense | (47.3) | (39.1) | (86.4) | (38.6) | (125.0) | (36.8) | (161.8) | ||||||||||||||||||||||||||||||||||
| Other items, net - Adjusted (5) | (0.7) | 0.1 | (0.6) | 1.6 | 1.0 | (4.0) | (3.0) | ||||||||||||||||||||||||||||||||||
| Total earnings/(loss) before income taxes | $ | 87.3 | $ | (13.7) | $ | 73.6 | $ | 23.6 | $ | 97.2 | $ | 57.0 | $ | 154.2 | |||||||||||||||||||||||||||
(1) Segment Profit represents the operations of our two reportable segments including allocations for shared support functions. General corporate and other expenses, amortization expense, interest expense, loss on extinguishment of debt, other items, net, the charges related to acquisition and integration costs, including restructuring charges, and an acquisition earn out have all been excluded from segment profit.
(2) General corporate and other expenses are recorded in Selling, general and administrative expense (SG&A) on the Consolidated (Condensed) Statement of Earnings and Comprehensive Income.
(3) Acquisition and Integration Costs were included in the following lines on the Consolidated (Condensed) Statement of Earnings and Comprehensive Income:
| Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||
| December 31, 2020 | March 31, 2021 | March 31, 2021 | June 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||
| Cost of products sold | $ | 7.7 | $ | 7.3 | $ | 15.0 | $ | 9.6 | $ | 24.6 | $ | 9.1 | $ | 33.7 | |||||||||||||||||||||||||||
| SG&A | 10.4 | 8.6 | 19.0 | 9.7 | 28.7 | 11.3 | 40.0 | ||||||||||||||||||||||||||||||||||
| Research and development | 0.1 | 0.9 | 1.0 | 0.1 | 1.1 | — | 1.1 | ||||||||||||||||||||||||||||||||||
| Other items, net | 0.1 | — | 0.1 | 0.1 | 0.2 | (6.1) | (5.9) | ||||||||||||||||||||||||||||||||||
| Total Acquisition & Integration Costs | $ | 18.3 | $ | 16.8 | $ | 35.1 | $ | 19.5 | $ | 54.6 | $ | 14.3 | $ | 68.9 | |||||||||||||||||||||||||||
(4) This represents the earn out achieved under the incentive agreements entered into with the Formulation Acquisition and is recorded in SG&A on the Consolidated (Condensed) Statement of Earnings and Comprehensive Income.
(5) Other items, net included acquisition and integration related costs which have been reclassified for the acquisition and integration costs reconciliation above.