Newell Rubbermaid (NYSE: NWL) today released historical segment financial data to reflect the realignment of its business. Effective October 2012, the company committed to an expansion of Project Renewal, designed to further simplify and align the business around two key activities – Brand & Category Development and Market Execution & Delivery. As part of the expanded program, the company's Consumer and Professional groups were eliminated and the company's nine global business units were streamlined into six business segments. The six business segments and the brands included in each of the six business segments are as follows:
- Tools: Irwin® and Lenox® tools and Dymo® industrial
- Commercial Products: Rubbermaid Commercial Products® and Rubbermaid® Healthcare
- Writing: Sharpie®, Paper Mate®, Expo®, Prismacolor®, Parker® and Waterman®
- Baby & Parenting: Graco®, Aprica® and Teutonia®
- Home Solutions: Rubbermaid®, Calphalon®, Levolor®, Kirsch® and Goody®
- Specialty: Bulldog®, Ashland®, Shur-Line®, Dymo® office, Endicia® and Mimio®
The historical segment financial data and segment core sales data are attached and can also be found in the Quarterly Earnings section of the company’s investor relations Web site at www.newellrubbermaid.com. While investors are being provided historical segment financial information reflecting the prospective changes in business segments, the company has in no way revised or restated its historical financial statements for any period.
Non-GAAP Financial Measures
This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included in this release is a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.The company uses certain financial measures that are included in this press release and the additional financial information both in explaining its results to stockholders and the investment community and in its internal evaluation and management of its businesses. The company’s management believes that these measures — including those that are “non-GAAP financial measures” — and the information they provide are useful to investors since these measures (a) permit investors to view the company’s performance using the same tools that company management uses to evaluate the company’s past performance, business segments and prospects for future performance and (b) determine certain elements of management’s incentive compensation.