Scotts Miracle-Gro Files 2024 10-K

TL;DR

SMG filed its 2024 10-K, check financials for the year ending 9/30.

AI Summary

The Scotts Miracle-Gro Company filed its 10-K for the fiscal year ending September 30, 2024. The filing details the company's financial performance and business operations. Key financial data and operational aspects are presented, reflecting the company's status in the agriculture chemicals sector.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Scotts Miracle-Gro's financial health and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: medium — As a publicly traded company in the agriculture chemicals sector, Scotts Miracle-Gro is subject to market, regulatory, and operational risks detailed in its 10-K.

Key Players & Entities

• SCOTTS MIRACLE-GRO CO (company) — Filer
• 20240930 (date) — Fiscal Year End
• 0000825542 (company) — Central Index Key
• OH (location) — State of Incorporation
• 14111 SCOTTSLAWN ROAD (address) — Business Address
• MARYSVILLE (location) — City
• 43041 (zip_code) — Business Zip Code
• 9376440011 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — nge on Which Registered Common Shares, $0.01 stated value SMG NYSE Securities regi
• $34.6 m — pending on research and development was $34.6 million, $35.7 million and $45.3 million
• $35.7 million — arch and development was $34.6 million, $35.7 million and $45.3 million in fiscal 2024, fisca
• $45.3 million — nt was $34.6 million, $35.7 million and $45.3 million in fiscal 2024, fiscal 2023 and fiscal
• $9.0 m — including product registration costs of $9.0 million, $12.4 million and $13.0 million,
• $12.4 million — uct registration costs of $9.0 million, $12.4 million and $13.0 million, respectively. In add
• $13.0 m — osts of $9.0 million, $12.4 million and $13.0 million, respectively. In addition to our
• $2.6 million — to our business. At September 30, 2024, $2.6 million was accrued for environmental matters.
• $0.1 m — iscal 2023 and fiscal 2022, we expensed $0.1 million, $0.4 million and $0.2 million, r
• $0.4 million — fiscal 2022, we expensed $0.1 million, $0.4 million and $0.2 million, respectively, for suc
• $0.2 m — expensed $0.1 million, $0.4 million and $0.2 million, respectively, for such environme

Filing Documents

• smg-20240930.htm (10-K) — 3125KB
• exhibit45smg20240930.htm (EX-4.5) — 6KB
• exhibit46smg20240930.htm (EX-4.6) — 22KB
• exhibit1010smg20240930.htm (EX-10.10) — 10KB
• exhibit19smg20240930.htm (EX-19) — 54KB
• exhibit21smg20240930.htm (EX-21) — 28KB
• exhibit22smg20240930.htm (EX-22) — 13KB
• exhibit23smg20240930.htm (EX-23) — 2KB
• exhibit24smg20240930.htm (EX-24) — 42KB
• exhibit311smg20240930.htm (EX-31.1) — 12KB
• exhibit312smg20240930.htm (EX-31.2) — 12KB
• exhibit32smg20240930.htm (EX-32) — 10KB
• exhibit97smg20240930.htm (EX-97) — 29KB
• exhibit991smg20241126.htm (EX-99.1) — 14KB
• smg-20240930_g1.jpg (GRAPHIC) — 57KB
• smg-20240930_g2.gif (GRAPHIC) — 151KB
• smg-20240930_g3.jpg (GRAPHIC) — 9KB
• smg-20240930_g4.jpg (GRAPHIC) — 62KB
• 0001546380-24-000043.txt ( ) — 18441KB
• smg-20240930.xsd (EX-101.SCH) — 107KB
• smg-20240930_cal.xml (EX-101.CAL) — 145KB
• smg-20240930_def.xml (EX-101.DEF) — 774KB
• smg-20240930_lab.xml (EX-101.LAB) — 1349KB
• smg-20240930_pre.xml (EX-101.PRE) — 1097KB
• smg-20240930_htm.xml (XML) — 3094KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 22 I tem 1C. C ybersecurity 23 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 27 Part II Supplemental Item Executive Officers of the Registrant 27 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. [Reserved] 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 50 Item 9A.

Controls and Procedures

Controls and Procedures 50 Item 9B. Other Information 51 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 52 Part III Item 10. Directors, Executive Officers, and Corporate Governance 53 Item 11.

Executive Compensation

Executive Compensation 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 54 Item 13. Certain Relationships and Related Transactions, and Director Independence 54 Item 14. Principal Accountant Fees and Services 54 Part IV Item 15. Exhibits and Financial Statement Schedules 55 Item 16. Form 10-K Summary 55

Signatures

Signatures 56 Index to Exhibits 111 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Company Description and Development of the Business The discussion below describes the business conducted by The Scotts Miracle-Gro Company, an Ohio corporation ("Scotts Miracle-Gro" and, together with its subsidiaries, the "Company," "we," "our" or "us"), including general developments in our business during fiscal 2024. Each reference in this Annual Report on Form 10-K ("Form 10-K") to a "fiscal" year is to our fiscal year ended or ending, as applicable, on September 30 of the referenced year. For additional information on recent business developments, see "ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS" of this Form 10-K. Through our U.S. Consumer and Other segments, we are the leading manufacturer and marketer of branded consumer lawn and garden products in North America. Our products are marketed under some of the most recognized brand names in the consumer lawn and garden industry. Our key consumer lawn and garden brands include Scotts Turf Builder lawn fertilizer and Scotts grass seed products; Miracle-Gro soil, plant food and gardening products; Ortho herbicide and pesticide products; and Tomcat rodent control and animal repellent products. We are the exclusive agent of Monsanto Company, a subsidiary of Bayer AG ("Monsanto"), for the marketing and distribution of certain of Monsanto's consumer Roundup 1 branded products within the United States ("U.S.") and certain other specified countries. In addition, we have an equity interest in Bonnie Plants, LLC, a joint venture with Alabama Farmers Cooperative, Inc. ("AFC"), focused on planting, growing, developing, distributing, marketing and selling live plants. Through our Hawthorne segment, we are a leading provider of nutrients, lighting and other materials used for indoor and hydroponic gardening in North America. Our key brands include General Hydroponics , Gavita , Botanicare , Agrolux , Gro Pro , Mother Earth , Grower's Edge , HydroLogic Pur

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View this 10-K filing on SEC EDGAR