2022 Q4 Form 10-K Financial Statement

#000163279022000091 Filed on November 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022
Revenue $765.1M $790.4M $3.050B
YoY Change -9.59% 3.19% 0.95%
Cost Of Revenue $466.8M $495.2M $1.931B
YoY Change -12.7% 4.96% 3.79%
Gross Profit $298.3M $295.2M $1.120B
YoY Change -4.27% 0.34% -3.61%
Gross Profit Margin 38.99% 37.35% 36.7%
Selling, General & Admin $120.4M $146.5M $484.5M
YoY Change -1.39% -3.36% -0.55%
% of Gross Profit 40.36% 49.63% 43.28%
Research & Development $7.600M $9.400M $34.70M
YoY Change -14.61% -3.09% 0.58%
% of Gross Profit 2.55% 3.18% 3.1%
Depreciation & Amortization $32.10M $32.60M $121.6M
YoY Change 9.18% 9.4% 2.62%
% of Gross Profit 10.76% 11.04% 10.86%
Operating Expenses $128.0M $172.0M $519.2M
YoY Change -2.29% -2.33% -0.48%
Operating Profit $170.3M $123.2M $600.3M
YoY Change -5.7% 4.32% -6.16%
Interest Expense $42.90M -$45.80M $158.4M
YoY Change 15.95% 11.17% -2.1%
% of Operating Profit 25.19% -37.18% 26.39%
Other Income/Expense, Net $1.400M -$7.300M
YoY Change -800.0% -351.72%
Pretax Income $62.30M -$475.1M -$305.5M
YoY Change -18.56% -933.51% -298.12%
Income Tax $13.30M -$112.2M -$74.00M
% Of Pretax Income 21.35%
Net Earnings $49.00M -$362.9M -$231.5M
YoY Change -18.33% -536.18% -243.88%
Net Earnings / Revenue 6.4% -45.91% -7.59%
Basic Earnings Per Share $0.69 -$3.37
Diluted Earnings Per Share $0.68 -$5.104M -$3.37
COMMON SHARES
Basic Shares Outstanding 71.29M shares 71.25M shares 69.90M shares
Diluted Shares Outstanding 72.20M shares 69.90M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.3M $205.3M $205.3M
YoY Change 26.72% -14.06% -14.06%
Cash & Equivalents $280.3M $205.3M $205.3M
Short-Term Investments
Other Short-Term Assets $34.10M $42.90M $139.9M
YoY Change 122.88% 184.11% 7.86%
Inventory $754.7M $771.6M $771.6M
Prepaid Expenses $101.6M $90.90M
Receivables $364.3M $421.7M $421.7M
Other Receivables $66.90M $51.50M $51.50M
Total Short-Term Assets $1.602B $1.590B $1.590B
YoY Change 3.33% 10.46% 10.46%
LONG-TERM ASSETS
Property, Plant & Equipment $354.1M $462.2M $462.2M
YoY Change -7.28% 20.71% -6.66%
Goodwill $1.016B $1.003B
YoY Change -3.53% -4.81%
Intangibles $1.282B $1.296B
YoY Change -30.94% -30.75%
Long-Term Investments
YoY Change
Other Assets $159.0M $159.2M $221.0M
YoY Change 17.43% 26.35% 49.63%
Total Long-Term Assets $2.976B $2.982B $2.982B
YoY Change -16.4% -16.42% -16.42%
TOTAL ASSETS
Total Short-Term Assets $1.602B $1.590B $1.590B
Total Long-Term Assets $2.976B $2.982B $2.982B
Total Assets $4.578B $4.572B $4.572B
YoY Change -10.41% -8.69% -8.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $352.7M $329.4M $329.4M
YoY Change -16.02% -27.57% -27.57%
Accrued Expenses $183.7M $206.9M $206.9M
YoY Change 9.74% 15.01% 15.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $6.400M $6.400M
YoY Change -100.0% -93.9% -93.9%
Long-Term Debt Due $12.40M $12.00M $12.40M
YoY Change -12.68% -16.08% -13.29%
Total Short-Term Liabilities $697.0M $697.9M $697.9M
YoY Change -31.36% -26.26% -26.26%
LONG-TERM LIABILITIES
Long-Term Debt $3.507B $3.499B $3.499B
YoY Change 5.67% 4.98% 4.98%
Other Long-Term Liabilities $136.8M $52.30M $226.3M
YoY Change -21.2% -70.68% -19.38%
Total Long-Term Liabilities $3.643B $3.552B $3.726B
YoY Change 4.34% 1.14% 3.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $697.0M $697.9M $697.9M
Total Long-Term Liabilities $3.643B $3.552B $3.726B
Total Liabilities $4.447B $4.442B $4.442B
YoY Change -5.39% -4.52% -4.52%
SHAREHOLDERS EQUITY
Retained Earnings -$256.0M -$304.7M
YoY Change -928.48% 5994.0%
Common Stock $803.7M $829.5M
YoY Change -4.4% -0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $248.9M
YoY Change 3.02%
Treasury Stock Shares 5.805M shares
Shareholders Equity $130.8M $130.6M $130.6M
YoY Change
Total Liabilities & Shareholders Equity $4.578B $4.572B $4.572B
YoY Change -10.41% -8.69% -8.69%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022
OPERATING ACTIVITIES
Net Income $49.00M -$362.9M -$231.5M
YoY Change -18.33% -536.18% -243.88%
Depreciation, Depletion And Amortization $32.10M $32.60M $121.6M
YoY Change 9.18% 9.4% 2.62%
Cash From Operating Activities $161.0M $107.2M $1.000M
YoY Change -394.87% -33.91% -99.44%
INVESTING ACTIVITIES
Capital Expenditures $9.500M -$12.10M $77.80M
YoY Change -138.93% -45.5% -219.88%
Acquisitions $0.00 -$1.000M
YoY Change -100.0%
Other Investing Activities $700.0K $100.0K $1.600M
YoY Change 75.0% -98.25% -102.6%
Cash From Investing Activities -$8.800M -$12.00M -$90.90M
YoY Change -63.33% -27.27% -28.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$79.40M -79.30M $79.10M
YoY Change -229.32% -28.94% -107.4%
NET CHANGE
Cash From Operating Activities $161.0M 107.2M $1.000M
Cash From Investing Activities -$8.800M -12.00M -$90.90M
Cash From Financing Activities -$79.40M -79.30M $79.10M
Net Change In Cash $75.00M 15.90M -$33.60M
YoY Change -523.73% -53.37% -96.68%
FREE CASH FLOW
Cash From Operating Activities $161.0M $107.2M $1.000M
Capital Expenditures $9.500M -$12.10M $77.80M
Free Cash Flow $151.5M $119.3M -$76.80M
YoY Change -601.66% -35.3% -131.4%

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates – </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company's Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. On an ongoing basis, Energizer evaluates its estimates, including those related to customer promotional programs and incentives, product returns, bad debts, the carrying value of inventories, intangible and other long-lived assets, income taxes, pensions and other postretirement benefits, share-based compensation, contingencies and acquisitions. Actual results could differ materially from those estimates. In regard to ongoing impairment testing of goodwill and indefinite lived intangible assets, significant deterioration in future cash flow projections, changes in discount rates used in discounted cash flow models or changes in other assumptions used in estimating fair values, versus those anticipated at the time of the initial acquisition, as well as subsequent estimated valuations, could result </span>in impairment charges that may materially affect the financial statements in a given year. Refer to Note 12 Goodwill &amp; Intangibles for additional information.
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q2 enr Capital Lease Obligations Lease Termination Fee
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CY2021Q3 enr Operating Lease Additional Right Of Use Asset And Lease Liability
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73400000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
56100000 usd
CY2022 enr Incremental Common Shares Attributableto Dilutive Effect Additional Diluted Shares
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19400000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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17800000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
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16300000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
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CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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7900000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Five
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2600000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
68600000 usd
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42200000 usd
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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36300000 usd
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CY2022Q3 us-gaap Finance Lease Liability
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CY2022Q3 us-gaap Goodwill
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244000000.0 usd
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CY2022Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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186300000 usd
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CY2021Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2021Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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1365700000 usd
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186300000 usd
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CY2020 us-gaap Amortization Of Intangible Assets
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56500000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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59700000 usd
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58100000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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58000000.0 usd
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53200000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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51600000 usd
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252700000 usd
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533300000 usd
CY2022Q3 us-gaap Finance Lease Liability
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32300000 usd
CY2021Q3 us-gaap Finance Lease Liability
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44300000 usd
CY2022Q3 us-gaap Long Term Debt
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CY2021Q3 us-gaap Long Term Debt
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CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2022Q3 us-gaap Long Term Debt Noncurrent
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CY2021Q3 us-gaap Long Term Debt Noncurrent
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5700000 usd
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CY2022 us-gaap Payments Of Debt Issuance Costs
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18100000 usd
CY2022 us-gaap Write Off Of Deferred Debt Issuance Cost
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20700000 usd
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CY2022Q3 us-gaap Short Term Bank Loans And Notes Payable
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6400000 usd
CY2021Q3 us-gaap Short Term Bank Loans And Notes Payable
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CY2022 enr Termination Of Capital Lease Obligation
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9800000 usd
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4500000 usd
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CY2021Q3 us-gaap Common Stock Shares Issued
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CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022 enr Defined Benefit Plan Pension Expense
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CY2020 enr Non Cash Business Exit Charges
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CY2022 enr Pre Acquisition Insurance Proceeds
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CY2021 enr Pre Acquisition Insurance Proceeds
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CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
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CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
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CY2022Q3 us-gaap Inventory Net
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CY2021Q3 us-gaap Inventory Net
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CY2022Q3 us-gaap Value Added Tax Receivable Current
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CY2021Q3 us-gaap Other Assets Current
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CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
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CY2022Q3 us-gaap Land
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CY2021Q3 us-gaap Land
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CY2021Q3 us-gaap Buildings And Improvements Gross
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121400000 usd
CY2022Q3 us-gaap Machinery And Equipment Gross
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CY2021Q3 us-gaap Machinery And Equipment Gross
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CY2022Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
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CY2021Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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62400000 usd
CY2022Q3 us-gaap Construction In Progress Gross
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CY2021Q3 us-gaap Construction In Progress Gross
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52700000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
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CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
1073800000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
690300000 usd
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
690900000 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
362100000 usd
CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
382900000 usd
CY2022Q3 us-gaap Accrued Advertising Current
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13400000 usd
CY2021Q3 us-gaap Accrued Advertising Current
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19500000 usd
CY2022Q3 us-gaap Accounts Payable Trade Current
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57700000 usd
CY2021Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
57300000 usd
CY2022Q3 enr Accrued Freight And Warehousing
AccruedFreightAndWarehousing
37200000 usd
CY2021Q3 enr Accrued Freight And Warehousing
AccruedFreightAndWarehousing
26800000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
60600000 usd
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
65400000 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
20500000 usd
CY2021Q3 us-gaap Interest Payable Current
InterestPayableCurrent
16500000 usd
CY2022Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1700000 usd
CY2021Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
5700000 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
36700000 usd
CY2021Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
30300000 usd
CY2022Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
106100000 usd
CY2021Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
135300000 usd
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
333900000 usd
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
356800000 usd
CY2022Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
49300000 usd
CY2021Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
66200000 usd
CY2022Q3 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
19800000 usd
CY2021Q3 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
25100000 usd
CY2022Q3 us-gaap Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Liability Noncurrent
TaxCutsAndJobsActOf2017TransitionTaxForAccumulatedForeignEarningsLiabilityNoncurrent
16700000 usd
CY2021Q3 us-gaap Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Liability Noncurrent
TaxCutsAndJobsActOf2017TransitionTaxForAccumulatedForeignEarningsLiabilityNoncurrent
16700000 usd
CY2022Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
52300000 usd
CY2021Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
70400000 usd
CY2022Q3 us-gaap Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
138100000 usd
CY2021Q3 us-gaap Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
178400000 usd
CY2022 us-gaap Interest Paid
InterestPaid
142600000 usd
CY2021 us-gaap Interest Paid
InterestPaid
172700000 usd
CY2020 us-gaap Interest Paid
InterestPaid
196000000.0 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
54500000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
65000000.0 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
46700000 usd
CY2020 enr Income Loss Relatedto Transition Services Agreements
IncomeLossRelatedtoTransitionServicesAgreements
900000 usd
CY2022Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
15400000 usd
CY2022Q3 us-gaap Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
5300000 usd

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