v3.25.2
Segments
 9 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments Segments
Operations for Energizer are managed via two product segments: Batteries & Lights and Auto Care. Segment performance is evaluated based on segment operating profit, exclusive of general corporate expenses (including share-based compensation costs), amortization of intangibles, impairment of intangible assets, acquisition and integration activities, restructuring and related costs, network transition costs, FY23 & FY24 production credits, litigation matters, and other items determined to be corporate in nature. Financial items, such as interest income and expense and the loss on extinguishment/modification of debt are managed on a global basis at the corporate level. The exclusion of these costs from segment results reflects management’s view on how it evaluates segment performance.

Energizer’s operating model includes a combination of standalone and shared business functions between the product segments, varying by country and region of the world. Shared functions include the sales and marketing functions, as well as human resources, IT and finance shared service costs. Energizer applies a fully allocated cost basis, in which shared business functions are allocated between segments. Such allocations are estimates, and may not represent the costs of such services if performed on a standalone basis.

Segment sales and profitability for the quarters and nine months ended June 30, 2025 and 2024 are presented below:
 For the Quarters Ended June 30,For the Nine Months Ended June 30,
2025202420252024
Net Sales  
Batteries & Lights$535.1 $509.1 $1,655.5 $1,607.9 
Auto Care190.2 192.3 464.4 473.4 
Total Net Sales$725.3 $701.4 $2,119.9 $2,081.3 
Segment Profit  
Batteries & Lights$158.8 $129.4 $390.4 $375.3 
Auto Care24.1 26.8 79.8 74.1 
Total segment profit$182.9 $156.2 $470.2 $449.4 
    General corporate and other expenses (1) (33.1)(29.1)(91.0)(86.6)
    Amortization of intangible assets(14.7)(14.5)(44.1)(43.5)
Impairment of Intangibles— (110.6)— (110.6)
Project Momentum restructuring and related costs (2)(8.0)(18.8)(45.9)(64.6)
Network transition costs (3)(0.9)— (17.6)— 
    Acquisition and integration costs (4)(1.3)(1.6)(4.8)(4.9)
FY23 & FY24 production credits (5)78.5 — 78.5 — 
Litigation matter (6)1.7 — 1.7 — 
Interest expense(39.0)(38.5)(114.0)(117.9)
Loss on extinguishment/modification of debt — (1.2)(5.3)(2.1)
December 2023 Argentina Economic Reform (7)— — — (22.0)
Other items - Adjusted (8)(1.9)0.6 3.0 (2.9)
Total earnings/(loss) before income taxes$164.2 $(57.5)$230.7 $(5.7)
Depreciation and amortization
Batteries & Lights$13.7 $12.9 $40.6 $37.2 
Auto Care3.5 3.3 9.9 8.9 
Total segment depreciation and amortization$17.2 $16.2 $50.5 $46.1 
Amortization of intangible assets14.7 14.5 44.1 43.5 
         Total depreciation and amortization$31.9 $30.7 $94.6 $89.6 
(1) Included in SG&A in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income.

(2) Project Momentum restructuring and related costs were included in the following lines in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income:
For the Quarters Ended June 30,For the Nine Months Ended June 30,
Restructuring and related costs2025202420252024
Cost of products sold$2.9 $13.4 $21.0 $41.7 
SG&A - Restructuring costs3.4 7.0 12.0 17.3 
SG&A - IT Enablement1.7 2.8 13.2 10.0 
Other items, net— (4.4)(0.3)(4.4)
Total Restructuring and related costs$8.0 $18.8 $45.9 $64.6 

(3) This represents incremental network transition costs, primarily related to freight and third-party packaging support, to maintain business continuity and service our customers as the Company decommissions certain facilities and relocates production and packaging lines as part of Project Momentum. These costs were recorded in Cost of products sold on the Consolidated (Condensed) Statement of Earnings and Comprehensive Income.

(4) Acquisition and integration costs were included in the following lines in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income:
For the Quarters Ended June 30,For the Nine Months Ended June 30,
Acquisition and related costs2025202420252024
Cost of products sold$— $0.2 $— $3.1 
SG&A 1.3 1.4 4.8 2.8 
Other items, net— — — (1.0)
Total Acquisition and integration costs$1.3 $1.6 $4.8 $4.9 

(5) This represents the Advanced Manufacturing Production Credit ("production credits") the Company can claim for FY23 & FY24 production. The Company received reasonable assurance to claim these credits during the third quarter of fiscal 2025 and recorded the full impact of these credits retroactive to January 1, 2023 in Cost of products sold on the Consolidated (Condensed) Statement of Earnings. See additional discussion over these credits in the Note 7, Income taxes.

(6) Litigation matter relates to an accrual adjustment recorded in SG&A on the Consolidated (Condensed) Statement of Earnings.

(7) During December 2023, a new president was inaugurated in Argentina bringing significant economic reform to the country including devaluing the Argentine Peso by 50% in the month of December (December 2023 Argentina Reform). As a result of this reform and devaluation, the Company recorded $22.0 of exchange and related losses during the nine months ended June 30, 2024 in Other items, net on the Consolidated (Condensed) Statement of Earnings.

(8) Below is the reconciliation of Other items, net as reflected on the Consolidated (Condensed) Statement of Earnings to the adjusted amount included in the table above:
For the Quarters Ended June 30,For the Nine Months Ended June 30,
2025202420252024
Other items, net$1.9 $(5.0)$(3.3)$19.5 
Acquisition and integration (4 above)— — — (1.0)
Restructuring and related costs (2 above)— (4.4)(0.3)(4.4)
December 2023 Argentina Economic Reform (7 above)— — — 022.0 
Other items, net - adjusted$1.9 $(0.6)$(3.0)$2.9 

Corporate assets shown in the following table include cash, all financial instruments, pension assets, amounts indemnified by others per the purchase agreements and tax asset balances that are managed outside of operating segments.
Total AssetsJune 30, 2025September 30, 2024
Batteries & Lights$1,595.5 $1,421.1 
Auto Care405.5 352.7 
Total segment assets$2,001.0 $1,773.8 
Corporate438.7 451.7 
Goodwill and other intangible assets2,076.3 2,116.9 
Total assets$4,516.0 $4,342.4