$NWL

NEWELL RUBBERMAID INC

CIK:0000814453|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,994	$ 1,935	$ 3,543	$ 3,501
Cost of products sold	1,182	1,250	2,218	2,313
Gross profit	812	685	1,325	1,188
Selling, general and administrative expenses	519	508	991	979
Restructuring costs, net	10	6	17	17
Operating income	283	171	317	192
Non-operating expenses:
Interest expense, net	87	82	171	154
Loss on extinguishment and modification of debt	0	13	0	13
Other expense, net	1	5	12	9
Income before income taxes	195	71	134	16
Income tax provision	89	25	61	7
Net income	$ 106	$ 46	$ 73	$ 9
Weighted average common shares outstanding:
Basic (in shares)	425.2	417.8	423.4	417.3
Diluted (in shares)	430.2	420.9	430.0	421.8
Earnings per share:
Basic (in USD per share)	$ 0.25	$ 0.11	$ 0.17	$ 0.02
Diluted (in USD per share)	$ 0.25	$ 0.11	$ 0.17	$ 0.02
COMPREHENSIVE INCOME (LOSS)
Net income	$ 106	$ 46	$ 73	$ 9
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	7	(17)	16	(18)
Pension and postretirement costs	6	(2)	9	1
Derivative financial instruments	2	(11)	6	(16)
Total other comprehensive income (loss), net of tax	15	(30)	31	(33)
Total comprehensive income (loss)	$ 121	$ 16	$ 104	$ (24)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 73	$ 9
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	157	154
Deferred income taxes	1	23
Stock based compensation expense	37	33
Loss on extinguishment and modification of debt	0	13
Other, net	(4)	(9)
Changes in operating accounts:
Accounts receivable	(38)	(148)
Inventories	(213)	(59)
Prepaid expenses and other current assets	(237)	14
Accounts payable	126	(39)
Accrued liabilities and other, net	(106)	(262)
Net cash used in operating activities	(204)	(271)
Cash flows from investing activities:
Capital expenditures	(84)	(118)
Proceeds from settlement of swaps	14	15
Other investing activities, net	4	11
Net cash used in investing activities	(66)	(92)
Cash flows from financing activities:
Proceeds from short-term debt, net	340	455
Payments on current portion of long-term debt	0	(1,235)
Net proceeds from issuance of long-term debt	0	1,235
Debt extinguishment and modification costs	0	(9)
Cash dividends	(66)	(60)
Other financing activities, net	9	(4)
Net cash provided by financing activities	283	382
Exchange rate effect on cash, cash equivalents and restricted cash	0	4
Increase in cash, cash equivalents and restricted cash	13	23
Cash, cash equivalents and restricted cash at beginning of period	220	219
Cash, cash equivalents and restricted cash at end of period	233	242
Supplemental disclosures:
Restricted cash at beginning of period	17	21
Restricted cash at end of period	$ 24	$ 23

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash and cash equivalents	$ 209	$ 203
Accounts receivable, net	1,025	987
Inventories	1,491	1,281
Prepaid expenses and other current assets	483	237
Total current assets	3,208	2,708
Property, plant and equipment, net	1,175	1,209
Operating lease assets	448	453
Goodwill	3,086	3,101
Other intangible assets, net	1,578	1,634
Deferred income taxes	787	825
Other assets	779	785
Total assets	11,061	10,715
Liabilities:
Accounts payable	1,054	931
Other accrued liabilities	1,364	1,464
Short-term debt and current portion of long-term debt	470	130
Total current liabilities	2,888	2,525
Long-term debt	4,536	4,543
Deferred income taxes	31	50
Operating lease liabilities	422	433
Other noncurrent liabilities	733	773
Total liabilities	8,610	8,324
Commitments and contingencies (Footnote 14)
Stockholders’ equity:
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at June 30, 2026 and December 31, 2025)	0	0
Common stock (800.0 authorized shares, $1.00 par value, 457.3 shares and 447.1 shares issued at June 30, 2026 and December 31, 2025, respectively)	457	447
Treasury stock, at cost (31.9 shares and 27.9 shares at June 30, 2026 and December 31, 2025, respectively)	(662)	(644)
Additional paid-in capital	6,769	6,805
Retained deficit	(3,154)	(3,227)
Accumulated other comprehensive loss	(959)	(990)
Total stockholders’ equity	2,451	2,391
Total liabilities and stockholders’ equity	$ 11,061	$ 10,715