10-Q Filing

NEWELL BRANDS INC. CIK: 814453 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000814453-23-000068`
Period End Date	20230331
Filing Date	20230428
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	nwl-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 18

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, authorized shares (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$271.00M	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$287.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.25B	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.22B	USD	Point-in-time
Inventories	`InventoryNet`	$2.20B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Inventories	`InventoryNet`	$2.24B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$326.00M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$312.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	438.60M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.05B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	439.40M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.05B	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	25.30M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockCommonShares`	25.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$1.18B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$1.21B	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$571.00M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$578.00M	USD	Point-in-time
Goodwill	`Goodwill`	$3.30B	USD	Point-in-time
Goodwill	`Goodwill`	$3.31B	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.65B	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.63B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$810.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$798.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$699.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$691.00M	USD	Point-in-time
Total assets	`Assets`	$13.26B	USD	Point-in-time
Total assets	`Assets`	$13.28B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.06B	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$112.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$123.00M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$1.27B	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$1.24B	USD	Point-in-time
Short-term debt and current portion of long-term debt	`DebtCurrent`	$621.00M	USD	Point-in-time
Short-term debt and current portion of long-term debt	`DebtCurrent`	$852.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.29B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.08B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.78B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.76B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$520.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$501.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$512.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$505.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$877.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$870.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.74B	USD	Point-in-time
Total liabilities	`Liabilities`	$9.94B	USD	Point-in-time
Commitments and contingencies (Footnote 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Footnote 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at March 31, 2023 and December 31, 2022)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at March 31, 2023 and December 31, 2022)	`PreferredStockValue`	-	USD	Point-in-time
Common stock (800.0 authorized shares, $1.00 par value, 439.4 shares and 438.6 shares issued at March 31, 2023 and December 31, 2022, respectively)	`CommonStockValue`	$439.00M	USD	Point-in-time
Common stock (800.0 authorized shares, $1.00 par value, 439.4 shares and 438.6 shares issued at March 31, 2023 and December 31, 2022, respectively)	`CommonStockValue`	$439.00M	USD	Point-in-time
Treasury stock, at cost (25.3 shares and 25.0 shares at March 31, 2023 and December 31, 2022, respectively)	`TreasuryStockCommonValue`	$623.00M	USD	Point-in-time
Treasury stock, at cost (25.3 shares and 25.0 shares at March 31, 2023 and December 31, 2022, respectively)	`TreasuryStockCommonValue`	$627.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.96B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.05B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-2.44B	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-2.34B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.00B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.01B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.52B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.33B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.26B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.28B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.80B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.39B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.65B	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$1.32B	USD	1 Quarter
Gross profit	`GrossProfit`	$482.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$740.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$518.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$480.00M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$5.00M	USD	1 Quarter
Restructuring costs, net	`RestructuringCharges`	$38.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$217.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-36.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$68.00M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$59.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$118.00M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-12.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-116.00M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$276.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-14.00M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$48.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-102.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	421.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	413.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	424.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	413.90M	shares	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$-0.25	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$-0.25	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-102.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$18.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$29.00M	USD	1 Quarter
Pension and postretirement costs	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$1.00M	USD	1 Quarter
Pension and postretirement costs	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-5.00M	USD	1 Quarter
Derivative financial instruments	`OtherComprehensiveIncomeLossDerivativeFinancialInstrumentsNetofTax`	$-10.00M	USD	1 Quarter
Derivative financial instruments	`OtherComprehensiveIncomeLossDerivativeFinancialInstrumentsNetofTax`	-	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$34.00M	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$7.00M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-95.00M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$262.00M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-102.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$228.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$81.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$76.00M	USD	1 Quarter
Gain from sale of business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Gain from sale of business	`GainLossOnSaleOfBusiness`	$130.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$326.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$11.00M	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$14.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$2.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-4.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-45.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$27.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$403.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$26.00M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-420.00M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-121.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-272.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-77.00M	USD	1 Quarter
Proceeds from sale of divested business	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of divested business	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$620.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$83.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$70.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-15.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-9.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$559.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-68.00M	USD	1 Quarter
Net proceeds from short-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$232.00M	USD	1 Quarter
Net proceeds from short-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments on current portion of long-term debt	`RepaymentOfCurrentPortionOfLongTermDebt`	$1.00M	USD	1 Quarter
Payments on current portion of long-term debt	`RepaymentOfCurrentPortionOfLongTermDebt`	-	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$275.00M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$97.00M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$100.00M	USD	1 Quarter
Equity compensation activity and other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-7.00M	USD	1 Quarter
Equity compensation activity and other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-17.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$128.00M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-393.00M	USD	1 Quarter
Exchange rate effect on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.00M	USD	1 Quarter
Exchange rate effect on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.00M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.00M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-98.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$285.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$477.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$303.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$285.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$379.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$477.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$303.00M	USD	Point-in-time
Restricted cash at beginning of period	`RestrictedCash`	$35.00M	USD	Point-in-time
Restricted cash at beginning of period	`RestrictedCash`	$14.00M	USD	Point-in-time
Restricted cash at beginning of period	`RestrictedCash`	$37.00M	USD	Point-in-time
Restricted cash at beginning of period	`RestrictedCash`	$16.00M	USD	Point-in-time
Restricted cash at end of period	`RestrictedCash`	$35.00M	USD	Point-in-time
Restricted cash at end of period	`RestrictedCash`	$14.00M	USD	Point-in-time
Restricted cash at end of period	`RestrictedCash`	$37.00M	USD	Point-in-time
Restricted cash at end of period	`RestrictedCash`	$16.00M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Dividends declared on common stock (in USD per share)	`CommonStockDividendsPerShareDeclared`	$0.23	USD	1 Quarter
Dividends declared on common stock (in USD per share)	`CommonStockDividendsPerShareDeclared`	$0.23	USD	1 Quarter
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.16B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.05B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.33B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.52B	USD	Point-in-time
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$262.00M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-95.00M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$96.00M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$97.00M	USD	1 Quarter
Equity compensation, net of tax	`StockholdersEquityOther`	$-5.00M	USD	1 Quarter
Equity compensation, net of tax	`StockholdersEquityOther`	-	USD	1 Quarter
Common stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$275.00M	USD	1 Quarter
Other	`AdjustmentsToAdditionalPaidInCapitalOther`	$-1.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.16B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.05B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.33B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.52B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.