VALVOLINE INCVVV

VALVOLINE INC Segments Disclosure

10-KFiled Nov 21, 20251 min read
REPORTABLE SEGMENTS INFORMATION
The Chief Executive Officer serves as Valvoline’s Chief Operating Decision Maker (“CODM”). The CODM evaluates financial performance and makes operating decisions, including the allocation of resources, based on financial data presented on a consolidated basis as the Company has determined that it operates as a single reportable segment.

Income from continuing operations, as reported in the Consolidated Statements of Comprehensive Income, is the primary measure used by the CODM to assess performance and guide operating decisions. In addition, the CODM uses income from continuing operations to identify underlying trends in business performance and to monitor actual results against budget.

The following table presents the significant segment expenses and the Company’s measure of profit or loss:

(In millions)202520242023
Net revenues$1,710.3 $1,619.0 $1,443.5 
Less:
Labor cost415.4 408.0 372.9 
Materials297.4 279.7 254.6 
Other service delivery costs339.0 312.5 271.5 
Advertising74.3 69.3 60.5 
Payroll123.6 107.9 102.0 
Other general and administrative152.0 127.9 102.0 
Other segment items (a)
93.8 99.2 80.6 
Income from continuing operations$214.8 $214.5 $199.4 
(a)Other segment items primarily include items such as net legacy and separation-related expenses, other income, net, net pension and postretirement costs, net interest and other financing expense, and income tax expense, which are included in the Company’s Consolidated Statements of Comprehensive Income.

Historical Timeline

Fiscal YearFiled
2025Nov 21, 2025Showing above
2021Nov 19, 2021
2020Nov 24, 2020
2019Nov 22, 2019
2018Nov 21, 2018
2017Nov 17, 2017

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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