2024 Q1 Form 10-K Financial Statement

#000095017024015266 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.264B $1.215B $5.062B
YoY Change 0.97% 2.9% -2.73%
Cost Of Revenue $285.0M $287.6M $1.191B
YoY Change -4.55% 8.28% 1.48%
Gross Profit $979.3M $927.4M $3.871B
YoY Change 2.71% 1.33% -3.95%
Gross Profit Margin 77.46% 76.33% 76.47%
Selling, General & Admin $901.5M $859.5M $1.866B
YoY Change 89.43% 4.57% 3.07%
% of Gross Profit 92.06% 92.68% 48.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.20M $28.20M $88.90M
YoY Change 5.8% 0.0% -5.73%
% of Gross Profit 2.98% 3.04% 2.3%
Operating Expenses $901.5M $859.4M $1.866B
YoY Change 89.43% 4.56% 3.07%
Operating Profit $77.80M $68.00M $356.4M
YoY Change 10.35% -27.12% -34.63%
Interest Expense -$37.90M -$38.10M $165.9M
YoY Change -196.19% 2.14% 19.1%
% of Operating Profit -48.71% -56.03% 46.55%
Other Income/Expense, Net $1.000M
YoY Change -92.19%
Pretax Income $34.00M $17.70M $203.0M
YoY Change 9.32% -72.52% -52.21%
Income Tax $9.700M $7.500M $60.80M
% Of Pretax Income 28.53% 42.37% 29.95%
Net Earnings $24.30M $10.20M $142.2M
YoY Change -17.06% -81.25% -55.74%
Net Earnings / Revenue 1.92% 0.84% 2.81%
Basic Earnings Per Share $0.24 $1.44
Diluted Earnings Per Share $0.24 $0.10 $1.42
COMMON SHARES
Basic Shares Outstanding 99.26M 99.11M 99.00M
Diluted Shares Outstanding 100.7M 100.2M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $398.3M $575.2M $575.2M
YoY Change -12.31% 13.23% 13.23%
Cash & Equivalents $398.3M $575.2M $575.2M
Short-Term Investments
Other Short-Term Assets $238.1M $237.7M $237.7M
YoY Change 0.13% 20.78% 20.78%
Inventory $501.9M $505.2M $505.2M
Prepaid Expenses
Receivables $87.90M $81.20M $81.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.226B $1.399B $1.399B
YoY Change -7.26% 3.19% 3.19%
LONG-TERM ASSETS
Property, Plant & Equipment $690.0M $506.5M $692.3M
YoY Change 43.78% 4.15% -0.16%
Goodwill $93.90M $95.40M
YoY Change -0.11% 2.36%
Intangibles $313.6M $314.0M
YoY Change -0.51% -0.54%
Long-Term Investments
YoY Change
Other Assets $323.3M $308.4M $308.4M
YoY Change 17.86% 12.72% 12.72%
Total Long-Term Assets $1.421B $1.410B $1.410B
YoY Change 4.06% 2.49% 2.49%
TOTAL ASSETS
Total Short-Term Assets $1.226B $1.399B $1.399B
Total Long-Term Assets $1.421B $1.410B $1.410B
Total Assets $2.647B $2.809B $2.809B
YoY Change -1.51% 2.83% 2.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $89.90M $84.00M $84.00M
YoY Change 32.4% -6.46% -6.46%
Accrued Expenses $466.7M $464.5M $464.5M
YoY Change 0.17% 3.78% 3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.900M $309.5M $309.5M
YoY Change -99.01% 949.15% 949.15%
Total Short-Term Liabilities $944.7M $1.278B $1.278B
YoY Change -23.02% 30.82% 30.82%
LONG-TERM LIABILITIES
Long-Term Debt $2.405B $2.253B $2.253B
YoY Change 2.98% -15.38% -15.38%
Other Long-Term Liabilities $333.9M $171.6M $318.1M
YoY Change 107.01% 3.13% -6.39%
Total Long-Term Liabilities $2.739B $2.425B $2.571B
YoY Change 9.7% -14.3% -14.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $944.7M $1.278B $1.278B
Total Long-Term Liabilities $2.739B $2.425B $2.571B
Total Liabilities $3.684B $3.870B $3.870B
YoY Change -5.8% -3.21% -3.21%
SHAREHOLDERS EQUITY
Retained Earnings -$1.038B -$1.062B
YoY Change -11.67% -11.81%
Common Stock $244.3M $234.0M
YoY Change 27.64% 23.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.037B -$1.060B -$1.060B
YoY Change
Total Liabilities & Shareholders Equity $2.647B $2.809B $2.809B
YoY Change -1.51% 2.83% 2.83%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $24.30M $10.20M $142.2M
YoY Change -17.06% -81.25% -55.74%
Depreciation, Depletion And Amortization $29.20M $28.20M $88.90M
YoY Change 5.8% 0.0% -5.73%
Cash From Operating Activities $13.80M $96.10M $357.5M
YoY Change -70.13% 79.29% 1.42%
INVESTING ACTIVITIES
Capital Expenditures $32.90M $35.30M $135.0M
YoY Change 8.58% -17.52% -13.68%
Acquisitions
YoY Change
Other Investing Activities $100.0K $100.0K -$200.0K
YoY Change -200.0% 0.0%
Cash From Investing Activities -$32.80M -$35.20M -$134.8M
YoY Change 8.61% -17.76% -13.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.00M
YoY Change -92.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -158.2M 8.300M -148.3M
YoY Change 108.16% -116.77% -43.97%
NET CHANGE
Cash From Operating Activities 13.80M 96.10M 357.5M
Cash From Investing Activities -32.80M -35.20M -134.8M
Cash From Financing Activities -158.2M 8.300M -148.3M
Net Change In Cash -177.2M 69.20M 79.20M
YoY Change 225.14% -278.81% -184.17%
FREE CASH FLOW
Cash From Operating Activities $13.80M $96.10M $357.5M
Capital Expenditures $32.90M $35.30M $135.0M
Free Cash Flow -$19.10M $60.80M $222.5M
YoY Change -220.13% 462.96% 13.46%

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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. Organization</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Herbalife Ltd. (formerly Herbalife Nutrition Ltd.), a Cayman Islands exempted company with limited liability, was incorporated on April 4, 2002. Herbalife Ltd. (and together with its subsidiaries, the “Company” or “Herbalife”) is a global nutrition company that sells weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition products to and through a network of independent members, or Members. In China, the Company sells its products to and through independent service providers and sales representatives to customers and preferred customers, as well as through Company-operated retail platforms when necessary. The Company sells its products in </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">five</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> geographic regions: North America; Latin America, which consists of Mexico and South and Central America; EMEA, which consists of Europe, the Middle East, and Africa; Asia Pacific (excluding China); and China. See Note 10, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Segment Information</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, for further information regarding geographic regions.</span></p>
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2022 hlf Allowances For Product Returns
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2700000
CY2022 hlf Non Cash Borrowings For Finance Software Maintenance
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CY2021 hlf Non Cash Borrowings For Finance Software Maintenance
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CY2023 us-gaap Use Of Estimates
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<p style="margin-left:2.267%;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which the Company believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity, and foreign currency have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ from these estimates. Changes in estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company continues to operate in an uncertain macroeconomic and geopolitical environment caused by high inflation, foreign exchange rate fluctuations, the war in Ukraine, lingering COVID-19 pandemic impacts and other factors. The Company is closely monitoring the evolving macroeconomic and geopolitical conditions to assess potential impacts on its business.</span></p>
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CY2023 hlf Lessee Operating And Financing Lease Option To Extend
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CY2021 us-gaap Variable Lease Payment
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CY2021 hlf Capitalized Cost Of Asset Included In Inventories
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Finance Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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300000
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600000000
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
3300000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
49700000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
54100000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
52700000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
9700000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8800000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
9200000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1000000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2200000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
5100000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
6600000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
3700000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
2300000
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
200000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1800000
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
5200000
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4400000
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
6200000
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4100000
CY2023 hlf Unrecognized Tax Benefits Increase Decrease Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreaseDecreaseResultingFromForeignCurrencyTranslation
100000
CY2022 hlf Unrecognized Tax Benefits Increase Decrease Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreaseDecreaseResultingFromForeignCurrencyTranslation
3700000
CY2021 hlf Unrecognized Tax Benefits Increase Decrease Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreaseDecreaseResultingFromForeignCurrencyTranslation
1300000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
49100000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
49700000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
54100000
CY2023Q4 hlf Unrecognized Tax Benefits Gross Interest And Penalties
UnrecognizedTaxBenefitsGrossInterestAndPenalties
18300000
CY2022Q4 hlf Unrecognized Tax Benefits Gross Interest And Penalties
UnrecognizedTaxBenefitsGrossInterestAndPenalties
22800000
CY2021Q4 hlf Unrecognized Tax Benefits Gross Interest And Penalties
UnrecognizedTaxBenefitsGrossInterestAndPenalties
18400000
CY2023Q4 hlf Gross Balance Of Unrecognized Tax Benefits Including Interest And Penalties
GrossBalanceOfUnrecognizedTaxBenefitsIncludingInterestAndPenalties
67400000
CY2022Q4 hlf Gross Balance Of Unrecognized Tax Benefits Including Interest And Penalties
GrossBalanceOfUnrecognizedTaxBenefitsIncludingInterestAndPenalties
72500000
CY2021Q4 hlf Gross Balance Of Unrecognized Tax Benefits Including Interest And Penalties
GrossBalanceOfUnrecognizedTaxBenefitsIncludingInterestAndPenalties
72500000
CY2023Q4 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
9600000
CY2023Q4 hlf Decrease In Unrecognized Tax Benefits Expiration Of Statute Of Limitations
DecreaseInUnrecognizedTaxBenefitsExpirationOfStatuteOfLimitations
8700000
CY2023Q4 hlf Decrease In Unrecognized Tax Benefits Due To Settlement Of Audits Or Resolution Of Administrative Or Judicial Proceedings
DecreaseInUnrecognizedTaxBenefitsDueToSettlementOfAuditsOrResolutionOfAdministrativeOrJudicialProceedings
900000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
700000
CY2023Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
700000
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
0
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2900000
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
2400000
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
500000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4600000
CY2023Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
700000
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
3900000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
6000000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
39500000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
37400000
CY2022Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
2400000
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
3600000
CY2023 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
54200000
CY2022 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
12100000
CY2021 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
12900000
CY2023 hlf Schedule Of Costs Related To The Transformation Program
ScheduleOfCostsRelatedToTheTransformationProgram
<p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Costs related to the Transformation Program for the year ended December 31, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">2023, 2022, and 2021 were as follows:</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;"> </span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:70.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:58.623%;"></td> <td style="width:1.301%;"></td> <td style="width:1%;"></td> <td style="width:10.924000000000001%;"></td> <td style="width:1%;"></td> <td style="width:1.301%;"></td> <td style="width:1%;"></td> <td style="width:10.924000000000001%;"></td> <td style="width:1%;"></td> <td style="width:1%;"></td> <td style="width:10.924000000000001%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="border-top:0.5pt solid #000000;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Year Ended<br/>December 31,</span></p></td> <td style="border-top:0.5pt solid #ffffff03;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="border-top:0.5pt solid #000000;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="border-top:0.5pt solid #000000;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Year Ended<br/>December 31,</span></p></td> <td style="border-top:0.5pt solid #ffffff03;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="border-top:0.5pt solid #000000;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Year Ended<br/>December 31,</span></p></td> <td style="border-top:0.5pt solid #ffffff03;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2023</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2022</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2021</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="6" style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-style:italic;min-width:fit-content;">(in millions)</span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Professional fees</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">8.0</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">7.2</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">9.7</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Retention and separation</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">45.7</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">4.8</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">3.0</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Other</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">0.5</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">0.1</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">0.2</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Total</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">54.2</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12.1</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12.9</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> </table>
CY2023 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
54200000
CY2022 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
12100000
CY2021 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
12900000
CY2021Q4 hlf Transformation Liabilities Total
TransformationLiabilitiesTotal
4800000
CY2022 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
12100000
CY2022 hlf Cash Payments
CashPayments
-13900000
CY2022 hlf Non Cash Items And Other
NonCashItemsAndOther
800000
CY2022Q4 hlf Transformation Liabilities Total
TransformationLiabilitiesTotal
3800000
CY2023 hlf Total Cost Of Transformation Program
TotalCostOfTransformationProgram
54200000
CY2023 hlf Cash Payments
CashPayments
-48300000
CY2023 hlf Non Cash Items And Other
NonCashItemsAndOther
-500000
CY2023Q4 hlf Transformation Liabilities Total
TransformationLiabilitiesTotal
9200000
CY2023Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
43900000
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
39400000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
126300000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
108300000
CY2023Q4 hlf Accrued Service Fees To China Independent Service Providers
AccruedServiceFeesToChinaIndependentServiceProviders
31200000
CY2022Q4 hlf Accrued Service Fees To China Independent Service Providers
AccruedServiceFeesToChinaIndependentServiceProviders
33000000
CY2023Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
60700000
CY2022Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
65000000
CY2023Q4 hlf Advance Sales Deposit Current
AdvanceSalesDepositCurrent
64000000
CY2022Q4 hlf Advance Sales Deposit Current
AdvanceSalesDepositCurrent
53900000
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
12200000
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
12500000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
206800000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
203900000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
540700000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
514000000
CY2023Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
65200000
CY2022Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
61100000

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