Newell Brands consolidates segments, changes inventory method, revises prior financials

NEWELL BRANDS INC.

Combines Commercial Solutions, Home Appliances, Home Solutions into Home & Commercial Solutions segment effective Jan 1, 2023.
Changes US inventory accounting from LIFO to FIFO; recasts 2021 and 2022 quarterly results for comparability.
Corrects functional currency error: additional expense of $6M (Q1), $13M (Q2), $16M (Q3) 2022; $20M income in Q4.
Provides recast segment operating income and P&L for all quarters of 2021 and 2022 in Exhibit 99.1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

NEWELL BRANDS INC. reported financial results for the fiscal year ended December 31, 2022.

Period: the fiscal year ended December 31, 2022
Result: reported results

Exact text from the filing

The Company has prepared supplementary financial information attached hereto as Exhibit 99.1, to provide investors comparative financial results for each of the three operating segments in prior periods.

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NEWELL BRANDS INC. filing history →

Source: SEC EDGAR

accession 0000814453-23-000018

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