Spectrum Brands Holdings, Inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements (Unaudited) SPECTRUM BRANDS HOLDINGS, INC. Condensed Consolidated Statements of Financial Position As of June 28, 2026 and September 30, 2025 (unaudited) (in millions) June 28, 2026 September 30, 2025 Assets Cash and cash equivalents $ 258.9 $ 123.6 Trade receivables, net 580.9 521.7 Other receivables 120.7 50.9 Inventories 499.6 446.1 Prepaid expenses and other current assets 39.7 41.9 Total current assets 1,499.8 1,184.2 Property, plant and equipment, net 237.7 255.0 Operating lease assets 113.3 73.5 Deferred charges and other 65.9 62.5 Goodwill 863.9 866.8 Intangible assets, net 797.1 937.6 Total assets $ 3,577.7 $ 3,379.6 Liabilities, Redeemable Noncontrolling Interest and Shareholders' Equity Current portion of long-term debt $ 12.2 $ 11.7 Accounts payable 360.3 283.7 Accrued wages and salaries 52.8 50.2 Accrued interest 4.2 4.5 Income tax payable 49.4 21.2 Short-term operating lease liabilities 20.0 31.8 Other current liabilities 122.9 120.1 Total current liabilities 621.8 523.2 Long-term debt, net of current portion 603.6 556.2 Long-term operating lease liabilities 112.4 54.5 Deferred income taxes 159.1 136.6 Uncertain tax benefit obligation 144.1 180.3 Other long-term liabilities 26.2 19.1 Total liabilities 1,667.2 1,469.9 Commitments and contingencies (Note 15) Redeemable noncontrolling interest 61.8 — Shareholders' equity Common stock 0.5 0.5 Additional paid-in capital 1,989.8 1,998.1 Accumulated earnings 2,209.2 2,219.3 Accumulated other comprehensive loss, net of tax ( 171.1 ) ( 171.9 ) Treasury stock ( 2,179.7 ) ( 2,136.3 ) Total shareholders' equity 1,848.7 1,909.7 Total liabilities, redeemable noncontrolling interest and shareholders' equity $ 3,577.7 $ 3,379.6 See accompanying notes to the condensed consolidated financial statements 4 Table of Contents SPECTRUM BRANDS HOLDINGS, INC. Condensed Consolidated Statements of Income For the three and nine month periods ended June 28, 2026 and June 29, 2025 (unaudited) Three Month Periods Ended Nine Month Periods Ended (in millions, except per share) June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net sales $ 753.3 $ 699.6 $ 2,139.2 $ 2,075.5 Cost of goods sold 382.9 435.5 1,256.9 1,300.2 Gross profit 370.4 264.1 882.3 775.3 Selling, general & administrative 250.5 225.0 691.3 656.3 Impairment of intangible assets 104.0 — 104.0 15.7 Impairment of property, plant an