Spectrum Brands Holdings, Inc.SPB

Spectrum Brands Holdings, Inc. Revenue Disclosure

10-KFiled Nov 18, 20253 min read
REVENUE RECOGNITION AND RECEIVABLES
The Company generates all of its revenue from contracts with customers. The following tables disaggregate our revenue for the years ended September 30, 2025, 2024, and 2023, by the Company’s key revenue streams, segments and geographic regions (based upon destination):
2025
(in millions)GPCH&GHPCTotal
Geographic Sales
NA$643.4 $565.3 $412.9 $1,621.6 
EMEA399.2 — 482.3 881.5 
LATAM12.2 7.5 193.3 213.0 
APAC27.7 — 65.2 92.9 
Total revenue1,082.5 572.8 1,153.7 2,809.0 
Revenue Type
Product Sales$1,069.7 $570.9 $1,146.9 $2,787.5 
Licensing9.0 1.9 6.5 17.4 
Service and other3.8 — 0.3 4.1 
Total revenue$1,082.5 $572.8 $1,153.7 $2,809.0 
2024
(in millions)GPCH&GHPCTotal
Geographic Sales
NA$721.2 $569.4 $476.9 $1,767.5 
EMEA388.5 — 496.7 885.2 
LATAM12.8 9.2 189.8 211.8 
APAC29.0 — 70.4 99.4 
Total revenue1,151.5 578.6 1,233.8 2,963.9 
Revenue Type
Product Sales$1,136.6 $576.3 $1,225.7 $2,938.6 
Licensing9.8 2.3 7.5 19.6 
Service and other5.1 — 0.6 5.7 
Total revenue$1,151.5 $578.6 $1,233.8 $2,963.9 
2023
(in millions)GPCH&GHPCTotal
Geographic Sales
NA$726.4 $529.2 $519.1 $1,774.7 
EMEA361.3 — 469.4 830.7 
LATAM18.0 7.3 181.5 206.8 
APAC33.3 — 73.3 106.6 
Total revenue$1,139.0 $536.5 $1,243.3 $2,918.8 
Revenue Type
Product Sales$1,123.3 $534.4 $1,234.2 $2,891.9 
Licensing10.0 2.1 7.8 19.9 
Service and other5.7 — 1.3 7.0 
Total revenue$1,139.0 $536.5 $1,243.3 $2,918.8 
NOTE 5 - REVENUE RECOGNITION AND RECEIVABLES (continued)
The Company has identified significant customers consisting of two large retail customers, each regularly exceeding 10% of consolidated net sales. All segments sell products to the significant customers and sales with those customers are considered significant to the respective segments. The following table summarizes significant concentration risk associated with net sales for the years ended September 30, 2025, 2024, and 2023.
(% of Net Sales)202520242023
Significant customers, exceeding 10% of net sales36.0 %35.9 %33.9 %
Subject to Black & Decker trademark license agreement11.7 %11.9 %12.0 %
The following summarizes the concentration risk of the associated receivables from the two significant customers. There were no additional concentrations of credit risk exceeding 10% of net trade receivables.
(% of Trade Receivables, Net)
20252024
Significant customers, exceeding 10% of net trade receivables41.6 %42.6 %
The following is a rollforward of the allowance for doubtful accounts for the years ended September 30, 2025, 2024 and 2023:
(in millions)
Beginning
Balance
Charged to
Profit & Loss
Deductions
Foreign Currency and Other
Ending
Balance
September 30, 2025$8.1 $0.9 $(2.5)$(0.2)$6.3 
September 30, 20247.7 2.6 (2.2)— 8.1 
September 30, 20237.3 5.0 (1.4)(3.2)7.7 
The following is a rollforward of the liability for product returns for the years ended September 30, 2025, 2024 and 2023:
(in millions)Beginning
Balance		Charged to
Profit & Loss		Deductions
Foreign Currency and Other
Ending
Balance
September 30, 2025$14.4 $16.4 $(21.1)$0.1 $9.8 
September 30, 202412.8 28.6 (27.3)0.3 14.4 
September 30, 202315.5 8.7 (11.2)(0.2)12.8 

Historical Timeline

Fiscal YearFiled
2025Nov 18, 2025Showing above
2024Nov 15, 2024
2023Nov 21, 2023
2022Nov 22, 2022
2021Nov 23, 2021
2020Nov 18, 2020
2019Nov 15, 2019
2018Nov 23, 2018

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

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