The following table presents the financial results of Feminine Care included in (Loss) earnings from discontinued operations, net of tax for the three and six months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Six Months Ended March 31, | | 2026 | | 2025 | | 2026 | | 2025 | | Net sales | $ | 23.3 | | | $ | 64.1 | | | $ | 87.3 | | | $ | 127.4 | | | Cost of products sold | 16.1 | | | 44.8 | | | 64.1 | | | 89.0 | | | Gross profit | 7.2 | | | 19.3 | | | 23.2 | | | 38.4 | | | | | | | | | | | Selling, general and administrative expense | 2.2 | | | 2.9 | | | 14.7 | | | 6.2 | | | Advertising and sales promotion expense | 1.5 | | | 5.6 | | | 3.5 | | | 9.8 | | | Research and development expense | 0.3 | | | 0.5 | | | 0.9 | | | 1.0 | | | Restructuring charges | — | | | 0.4 | | | 0.2 | | | 0.5 | | | Impairment charges | — | | | — | | | 37.4 | | | — | | | Operating income (loss) | 3.2 | | | 9.9 | | | (33.5) | | | 20.9 | | | (Gain) loss on assets held for sale | (1.6) | | | — | | | 2.2 | | | — | | | Earnings (loss) from discontinued operations before income taxes | 4.8 | | | 9.9 | | | (35.7) | | | 20.9 | | Income tax provision on discontinued operations (1) | 19.4 | | | 1.7 | | | 15.4 | | | 4.7 | | | (Loss) earnings from discontinued operations, net of tax | $ | (14.6) | | | $ | 8.2 | | | $ | (51.1) | | | $ | 16.2 | |
The following table reconciles the gross proceeds with the loss on assets held for sale included in (Loss) earnings from discontinued operations, net of tax: | | | | | | | | | | | Six Months Ended March 31, 2026 | Gross proceeds (1) | | | $ | 338.9 | | | Less direct costs to sell | | | 9.5 | | | Less carrying amount | | | 331.6 | | | Loss on assets held for sale | | | $ | 2.2 | |
(1) Includes gross proceeds of $340.0, net of purchase price adjustment of $1.1. | | | | | | | | | | | September 30, 2025 | | Inventories | | | $ | 50.9 | | | Other current assets | | | 8.7 | | | Current assets held for sale | | | 59.6 | | | | | | | Property, plant and equipment, net | | | 74.3 | | | Goodwill | | | 154.0 | | | Other intangible assets, net | | | 93.1 | | | Other assets | | | 0.4 | | | | | | | Non-current assets held for sale | | | 321.8 | | | Total assets held for sale | | | 381.4 | | | | | | | Other current liabilities | | | 5.2 | | | Current liabilities held for sale | | | 5.2 | | | | | | | Total liabilities held for sale | | | $ | 5.2 | |
The following table presents significant cash flow items from discontinued operations for the three and six months ended March 31, 2026 and 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Six Months Ended March 31, | | | 2026 | | 2025 | | 2026 | | 2025 | | Capital expenditures | | $ | 0.8 | | | $ | 1.6 | | | $ | 1.2 | | | $ | 3.0 | | | Depreciation and amortization | | — | | | 3.6 | | | 1.3 | | | 7.2 | |
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