v3.26.1
Segment and Geographic Data
 9 Months Ended
Jun. 27, 2026
Segment and Geographic Data [Abstract]  
Segment and Geographic Data
8.         Segment and Geographic Data
 
The Company’s operations are organized into two operating and reportable segments: Americas and Rest of World. The structure is designed to align us with our customers, provide improved service, drive future growth, and facilitate synergy realization. Adjusted EBITDA is the primary measure of profit (loss) used by the chief operating decision maker ("CODM"), our CEO, to evaluate the performance of and allocate resources among our reportable segments.  The Company defines Adjusted EBITDA as operating income adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing operating performance. The Company's management, including the CODM, uses Adjusted EBITDA to evaluate segment performance and allocate resources. The accounting policies of the reportable segments are the same as those in the Condensed Consolidated and Combined Financial Statements. The Company's CODM uses consolidated expense information in the evaluation of segment performance and to allocate resources and is not regularly provided disaggregated expense information for each of the reportable segments.
 
Selected information by reportable segment is presented in the following tables:
 
  Quarterly Period Ended Three Quarterly Periods Ended
   June 27, 2026   June 28, 2025   June 27, 2026   June 28, 2025 
Net Sales                
Americas $476  $473  $1,353  $1,366 
Rest of World  381   366   1,092   999 
Total net sales $857  $839  $2,445  $2,365 
                 
Segment operating expenses(4)                
Americas $405  $412  $1,166  $1,185 
Rest of World  353   336   997   916 
Total segment operating expenses $758  $748  $2,163  $2,101 
                 
Adjusted EBITDA                
Americas $71  $61  $187  $181 
Rest of World  28   30   95   83 
Total adjusted EBITDA $99  $91  $282  $264 
               
Reconciling items:                
Depreciation and amortization $50  $58  $150  $169 
Restructuring, transaction, business optimization and other activities  16   13   52   64 
Argentina hyperinflation(1)  —    1   3   1 
Corporate expense allocation(2)  —    —    —    3 
Other non-cash charges(3)  11   6   24   32 
Operating income (loss)  22   13   53   (5) 
Interest expense, net and other expense, net  40   37   117   128 
Loss before income taxes $(18)  $(24)  $(64)  $(133) 
(1)    Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso.
(2)    Consists of estimated parent-allocated charges for the prior year merger, which is required by GAAP as part of the carve-out financial statement process.
(3)    Includes stock compensation expense and other non-cash items, including $10 million of expenses for disposals and sale of assets in the three quarterly periods ended June 27, 2026 and $12 million of inventory step-up charges related to the prior year merger in the three quarterly periods ended June 28, 2025.
(4)   Segment operating expenses include primarily cost of goods sold and selling, general and administrative expenses. 
    
Depreciation and amortization                
Americas $32  $35 $95 $107 
Rest of World  18   23  55  62 
Total depreciation and amortization $50  $58 $150 $169 
 
Total assets and capital expenditures by segment are not disclosed as the CODM does not utilize these measures to evaluate segment performance or allocate resources and capital.
 
Selected information by geographical region is presented in the following table:
    
  Quarterly Period EndedThree Quarterly Periods Ended
   June 27, 2026   June 28, 2025  June 27, 2026  June 28, 2025 
Net sales                
United States and Canada $358  $369 $1,046 $1,042 
Latin America  118   104  307  324 
Rest of World  381   366  1,092  999 
Total net sales $857  $839 $2,445 $2,365 
 
Selected information by product line is presented in the following table:
    
  Quarterly Period EndedThree Quarterly Periods Ended
(in percentages)  June 27, 2026   June 28, 2025  June 27, 2026  June 28, 2025 
Net sales                
Personal Care  45%  46% 47% 48%
Consumer Solutions  55%  54% 53% 52%
Total net sales  100%  100% 100% 100%