Spectrum Brands Files 2024 10-K

Ticker: SPB · Form: 10-K · Filed: Nov 15, 2024 · CIK: 109177

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

Spectrum Brands dropped its 2024 10-K. Check financials for FY ending 9/30/24.

AI Summary

Spectrum Brands Holdings, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The company, previously known as HRG Group, Inc., reported its financial performance and business operations. Key financial details and operational highlights are detailed within this comprehensive annual report.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Spectrum Brands' financial health, strategic direction, and risks for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings inherently carry medium risk due to the comprehensive nature of financial reporting and potential for disclosed risks.

Key Players & Entities

FAQ

What is the fiscal year end date for this 10-K filing?

The fiscal year end date for this 10-K filing is September 30, 2024.

What was Spectrum Brands Holdings, Inc. formerly known as?

Spectrum Brands Holdings, Inc. was formerly known as HRG Group, Inc. and Harbinger Group Inc.

When was the company's name changed from HRG Group, Inc.?

The company's name was changed from HRG Group, Inc. on March 11, 2015.

What is the SEC file number for this filing?

The SEC file number for this filing is 001-04219.

What is the primary business address of Spectrum Brands Holdings, Inc.?

The primary business address is 3001 Deming Way, Middleton, WI 53562.

Filing Stats: 4,456 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-11-15 10:45:17

Key Financial Figures

Filing Documents

BUSINESS

BUSINESS 6 ITEM 1A.

RISK FACTORS

RISK FACTORS 11 ITEM 1B. UNRESOLVED STAFF COMMENTS 28 ITEM 2.

PROPERTIES

PROPERTIES 30 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 31 ITEM 4. MINE SAFETY DISCLOSURES 31 PART II ITEM 5. MARKET FOR THE REGISTRANTS' COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 32 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 33 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 34 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 45 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 46 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 46 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 46 ITEM 9B. OTHER INFORMATION 46 I TEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 46 PART III ITEM 10 . DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 47 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 47 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 47 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 47 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 48 PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENTS AND SCHEDULES 48 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULE 49

SIGNATURES

SIGNATURES 92 EXHIBIT INDEX 93 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements We have made or implied certain forward-looking statements in this document. All statements, other than statements of historical facts included or incorporated by reference in this document, including the statements under Management's Discussion and Analysis of Financial Condition and Results of Operations , without limitation, statements or expectations regarding our business strategy, future operations or condition, estimated revenues, projected costs, inventory management, earnings power, projected synergies, prospects, plans and objectives of management, outcome of any litigation and information concerning expected actions of third parties are forward-looking statements. When used in this report, the words future, anticipate, pro forma, seek, intend, plan, envision, estimate, believe, belief, expect, project, forecast, outlook, earnings framework, goal, target, could, would, will, can, should, may and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Because these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factors that could cause our actual results to differ materially from those expressed or implied herein include, without limitation: the economic, social and political conditions or civil unrest, terrorist attacks, acts of war, natural disasters, other public health concerns or unrest in the United States ("U.S.") or the international markets impacting our business, customers, employees (including our ability to retain and attract key personnel), manufacturing facilities, suppliers, capital m

BUSINESS

ITEM 1. BUSINESS The terms "the Company," "we," "our," and "SBH" as used in this report, refer to Spectrum Brands Holdings, Inc. and its consolidated subsidiaries, unless otherwise indicated. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to reports filed pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are available free of charge through our website at www.spectrumbrands.com as soon as reasonably practicable after such reports are filed with, or furnished to, the SEC. The SEC also maintains a website that contains our reports, proxy statements and other information at www.sec.gov. In addition, copies of our (i) Corporate Governance Guidelines, (ii) charters for the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, (iii) Code of Business Conduct and Ethics and (iv) Code of Ethics for the Principal Executive Officer and Senior Financial Officers are available on our website at www.spectrumbrands.com under "Investor Relations." Copies will also be provided to any stockholder upon written request to Spectrum Brands, Inc. at 3001 Deming Way, Middleton, Wisconsin 53562 or via electronic mail at investorrelations@spectrumbrands.com, or by telephone at (608) 278-6207. General Overview We are a diversified global branded consumer products and home essentials company. We manage the business in three vertically integrated, product focused segments: (i) Global Pet Care ("GPC"), (ii) Home and Garden ("H&G") and (iii) Home and Personal Care ("HPC"). The Company manufactures, markets and distributes its products globally in the North America ("NA")

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