fbhs-10q_20210930.htm
false
Q3
0001519751
--12-31
true
true
Effects of Reference Rate Reform
In March 2020, the FASB issued ASU 2020-04, which provides relief from accounting analysis and impacts that may otherwise be required for modifications to agreements necessitated by reference rate reform. It also provides optional expedients to enable the continuance of hedge accounting where certain hedging relationships are impacted by reference rate reform. This optional guidance is effective immediately, and available to be used through December 31, 2022. We are assessing the impact that reference rate reform and the related adoption of this guidance may have on our financial statements.
0001519751
2021-01-01
2021-09-30
xbrli:shares
0001519751
2021-10-15
iso4217:USD
0001519751
2020-01-01
2020-09-30
0001519751
2021-07-01
2021-09-30
0001519751
2020-07-01
2020-09-30
iso4217:USD
xbrli:shares
0001519751
2021-09-30
0001519751
2020-12-31
0001519751
2019-12-31
0001519751
2020-09-30
0001519751
us-gaap:OtherCurrentAssetsMember
2021-09-30
0001519751
us-gaap:OtherCurrentAssetsMember
2020-09-30
0001519751
us-gaap:OtherCurrentAssetsMember
2020-12-31
0001519751
us-gaap:OtherNoncurrentAssetsMember
2021-09-30
0001519751
us-gaap:OtherNoncurrentAssetsMember
2020-09-30
0001519751
us-gaap:OtherNoncurrentAssetsMember
2020-12-31
0001519751
us-gaap:CommonStockMember
2019-12-31
0001519751
us-gaap:AdditionalPaidInCapitalMember
2019-12-31
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-12-31
0001519751
us-gaap:RetainedEarningsMember
2019-12-31
0001519751
us-gaap:TreasuryStockMember
2019-12-31
0001519751
us-gaap:NoncontrollingInterestMember
2019-12-31
0001519751
us-gaap:RetainedEarningsMember
2020-01-01
2020-09-30
0001519751
us-gaap:NoncontrollingInterestMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2020-01-01
2020-09-30
0001519751
us-gaap:TreasuryStockMember
2020-01-01
2020-09-30
0001519751
us-gaap:CommonStockMember
2020-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2020-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-09-30
0001519751
us-gaap:RetainedEarningsMember
2020-09-30
0001519751
us-gaap:TreasuryStockMember
2020-09-30
0001519751
us-gaap:CommonStockMember
2020-12-31
0001519751
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0001519751
us-gaap:RetainedEarningsMember
2020-12-31
0001519751
us-gaap:TreasuryStockMember
2020-12-31
0001519751
us-gaap:RetainedEarningsMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:CommonStockMember
2021-01-01
2021-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-09-30
0001519751
us-gaap:TreasuryStockMember
2021-01-01
2021-09-30
0001519751
us-gaap:CommonStockMember
2021-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2021-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-09-30
0001519751
us-gaap:RetainedEarningsMember
2021-09-30
0001519751
us-gaap:TreasuryStockMember
2021-09-30
0001519751
us-gaap:CommonStockMember
2020-06-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2020-06-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-06-30
0001519751
us-gaap:RetainedEarningsMember
2020-06-30
0001519751
us-gaap:TreasuryStockMember
2020-06-30
0001519751
us-gaap:NoncontrollingInterestMember
2020-06-30
0001519751
2020-06-30
0001519751
us-gaap:RetainedEarningsMember
2020-07-01
2020-09-30
0001519751
us-gaap:NoncontrollingInterestMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2020-07-01
2020-09-30
0001519751
us-gaap:TreasuryStockMember
2020-07-01
2020-09-30
0001519751
us-gaap:CommonStockMember
2021-06-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0001519751
us-gaap:RetainedEarningsMember
2021-06-30
0001519751
us-gaap:TreasuryStockMember
2021-06-30
0001519751
2021-06-30
0001519751
us-gaap:RetainedEarningsMember
2021-07-01
2021-09-30
0001519751
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:AdditionalPaidInCapitalMember
2021-07-01
2021-09-30
0001519751
us-gaap:TreasuryStockMember
2021-07-01
2021-09-30
xbrli:pure
0001519751
fbhs:LarsonManufacturingMember
2020-12-01
2020-12-31
0001519751
us-gaap:AccountingStandardsUpdate201912Member
2019-12-01
2019-12-31
0001519751
us-gaap:AccountingStandardsUpdate202004Member
2020-03-01
2020-03-31
0001519751
us-gaap:AccountingStandardsUpdate201912Member
2021-09-30
0001519751
fbhs:FloTechnologiesIncMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-01-01
2020-09-30
0001519751
fbhs:FloTechnologiesIncMember
2021-01-01
2021-09-30
0001519751
us-gaap:OtherNonoperatingIncomeExpenseMember
fbhs:FloTechnologiesIncMember
2021-01-01
2021-09-30
0001519751
fbhs:FloTechnologiesIncMember
2021-01-01
0001519751
fbhs:LarsonManufacturingMember
2020-12-31
0001519751
us-gaap:CustomerRelationshipsMember
fbhs:LarsonManufacturingMember
2020-12-31
0001519751
us-gaap:TradeNamesMember
fbhs:LarsonManufacturingMember
2020-12-31
0001519751
us-gaap:TechnologyBasedIntangibleAssetsMember
fbhs:LarsonManufacturingMember
2020-12-31
0001519751
us-gaap:CustomerRelationshipsMember
fbhs:LarsonManufacturingMember
2020-12-01
2020-12-31
0001519751
us-gaap:TechnologyBasedIntangibleAssetsMember
fbhs:LarsonManufacturingMember
2020-12-01
2020-12-31
0001519751
fbhs:LarsonManufacturingMember
2021-01-01
2021-09-30
0001519751
fbhs:PlumbingSegmentMember
2020-12-31
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
2020-12-31
0001519751
fbhs:CabinetsSegmentMember
2020-12-31
0001519751
fbhs:PlumbingSegmentMember
2021-01-01
2021-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
2021-01-01
2021-09-30
0001519751
fbhs:CabinetsSegmentMember
2021-01-01
2021-09-30
0001519751
fbhs:PlumbingSegmentMember
2021-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
2021-09-30
0001519751
fbhs:CabinetsSegmentMember
2021-09-30
0001519751
fbhs:DoorsAndSecuritySegmentMember
2021-09-30
0001519751
us-gaap:TradeNamesMember
2021-09-30
0001519751
us-gaap:CustomerContractsMember
2021-09-30
0001519751
us-gaap:PatentedTechnologyMember
2021-09-30
0001519751
us-gaap:TradeNamesMember
2020-12-31
0001519751
us-gaap:CustomerContractsMember
2020-12-31
0001519751
us-gaap:PatentedTechnologyMember
2020-12-31
0001519751
fbhs:TradenamesAndCustomerRelationshipMember
srt:MinimumMember
2021-01-01
2021-09-30
0001519751
fbhs:TradenamesAndCustomerRelationshipMember
srt:MaximumMember
2021-01-01
2021-09-30
0001519751
fbhs:PlumbingSegmentMember
fbhs:COVID19Member
2020-04-01
2020-06-30
0001519751
fbhs:PlumbingSegmentMember
fbhs:COVID19Member
2021-01-01
2021-09-30
0001519751
us-gaap:TradeNamesMember
fbhs:COVID19Member
fbhs:CabinetsSegmentMember
2020-01-01
2020-03-31
0001519751
us-gaap:TradeNamesMember
fbhs:CabinetsSegmentMember
2021-09-30
0001519751
srt:MinimumMember
us-gaap:MeasurementInputDiscountRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:MaximumMember
us-gaap:MeasurementInputDiscountRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:WeightedAverageMember
us-gaap:MeasurementInputDiscountRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:MinimumMember
fbhs:MeasurementInputRoyaltyRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:MaximumMember
fbhs:MeasurementInputRoyaltyRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:WeightedAverageMember
fbhs:MeasurementInputRoyaltyRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:MinimumMember
us-gaap:MeasurementInputLongTermRevenueGrowthRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:MaximumMember
us-gaap:MeasurementInputLongTermRevenueGrowthRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
srt:WeightedAverageMember
us-gaap:MeasurementInputLongTermRevenueGrowthRateMember
us-gaap:TradeNamesMember
2020-12-31
0001519751
us-gaap:MeasurementInputLongTermRevenueGrowthRateMember
us-gaap:TradeNamesMember
2020-01-01
2020-12-31
0001519751
fbhs:CabinetsSegmentMember
fbhs:FourthIndefiniteLivedTradeNameMember
2020-12-31
0001519751
fbhs:CabinetsSegmentMember
fbhs:FourthIndefiniteLivedTradeNameMember
2020-01-01
2020-12-31
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
2021-09-30
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
fbhs:TwoThousandAndEighteenUnsecuredSeniorNotesMember
2021-09-30
0001519751
fbhs:ThreePointTwoFiveZeroPercentSeniorNotesMember
fbhs:TwoThousandAndNineteenUnsecuredSeniorNotesMember
2021-09-30
0001519751
us-gaap:SeniorNotesMember
2021-09-30
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
2021-01-01
2021-09-30
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
fbhs:TwoThousandAndEighteenUnsecuredSeniorNotesMember
2021-01-01
2021-09-30
0001519751
fbhs:ThreePointTwoFiveZeroPercentSeniorNotesMember
fbhs:TwoThousandAndNineteenUnsecuredSeniorNotesMember
2021-01-01
2021-09-30
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
2020-12-31
0001519751
fbhs:FourPointZeroPercentSeniorNotesMember
fbhs:TwoThousandAndEighteenUnsecuredSeniorNotesMember
2020-12-31
0001519751
fbhs:ThreePointTwoFiveZeroPercentSeniorNotesMember
fbhs:TwoThousandAndNineteenUnsecuredSeniorNotesMember
2020-12-31
0001519751
us-gaap:SeniorNotesMember
2020-12-31
0001519751
fbhs:TwoThousandTwentyRevolvingCreditAgreementMember
2020-04-30
0001519751
fbhs:TwoThousandTwentyRevolvingCreditAgreementMember
2020-04-01
2020-04-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
2019-09-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
2019-09-01
2019-09-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
us-gaap:LondonInterbankOfferedRateLIBORMember
srt:MinimumMember
2019-09-01
2019-09-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
us-gaap:LondonInterbankOfferedRateLIBORMember
srt:MaximumMember
2019-09-01
2019-09-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
2021-09-30
0001519751
fbhs:SecondAmendedAndRestatedRevolvingCreditFacilityMember
2020-12-31
0001519751
us-gaap:ForeignExchangeContractMember
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:CashFlowHedgingMember
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherCurrentAssetsMember
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherCurrentAssetsMember
2020-12-31
0001519751
us-gaap:CommodityContractMember
us-gaap:OtherCurrentAssetsMember
2021-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:OtherCurrentAssetsMember
2020-12-31
0001519751
us-gaap:NetInvestmentHedgingMember
us-gaap:OtherCurrentAssetsMember
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherCurrentLiabilitiesMember
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherCurrentLiabilitiesMember
2020-12-31
0001519751
us-gaap:CostOfSalesMember
2021-01-01
2021-09-30
0001519751
us-gaap:InterestExpenseMember
2021-01-01
2021-09-30
0001519751
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-01-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-01-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
us-gaap:DesignatedAsHedgingInstrumentMember
2021-01-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:CostOfSalesMember
2021-01-01
2021-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:CostOfSalesMember
2021-01-01
2021-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:InterestExpenseMember
2021-01-01
2021-09-30
0001519751
us-gaap:CostOfSalesMember
2020-01-01
2020-09-30
0001519751
us-gaap:InterestExpenseMember
2020-01-01
2020-09-30
0001519751
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-01-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-01-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
us-gaap:DesignatedAsHedgingInstrumentMember
2020-01-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:CostOfSalesMember
2020-01-01
2020-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:CostOfSalesMember
2020-01-01
2020-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:InterestExpenseMember
2020-01-01
2020-09-30
0001519751
us-gaap:CostOfSalesMember
2021-07-01
2021-09-30
0001519751
us-gaap:InterestExpenseMember
2021-07-01
2021-09-30
0001519751
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-07-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2021-07-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
us-gaap:DesignatedAsHedgingInstrumentMember
2021-07-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:CostOfSalesMember
2021-07-01
2021-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:InterestExpenseMember
2021-07-01
2021-09-30
0001519751
us-gaap:CostOfSalesMember
2020-07-01
2020-09-30
0001519751
us-gaap:InterestExpenseMember
2020-07-01
2020-09-30
0001519751
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-07-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
2020-07-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:OtherNonoperatingIncomeExpenseMember
us-gaap:DesignatedAsHedgingInstrumentMember
2020-07-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:CostOfSalesMember
2020-07-01
2020-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:CostOfSalesMember
2020-07-01
2020-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:InterestExpenseMember
2020-07-01
2020-09-30
0001519751
us-gaap:CashFlowHedgingMember
2021-01-01
2021-09-30
0001519751
us-gaap:CashFlowHedgingMember
2020-01-01
2020-09-30
0001519751
us-gaap:CashFlowHedgingMember
2021-07-01
2021-09-30
0001519751
us-gaap:CashFlowHedgingMember
2020-07-01
2020-09-30
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
us-gaap:SeniorNotesMember
2021-09-30
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:SeniorNotesMember
2021-09-30
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
us-gaap:SeniorNotesMember
2020-12-31
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:SeniorNotesMember
2020-12-31
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
us-gaap:RevolvingCreditFacilityMember
2021-09-30
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:RevolvingCreditFacilityMember
2021-09-30
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
us-gaap:RevolvingCreditFacilityMember
2020-12-31
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:RevolvingCreditFacilityMember
2020-12-31
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2021-09-30
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2021-09-30
0001519751
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2020-12-31
0001519751
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2020-12-31
0001519751
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueInputsLevel2Member
2021-09-30
0001519751
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:FairValueInputsLevel2Member
2020-12-31
0001519751
us-gaap:FairValueMeasurementsRecurringMember
2021-09-30
0001519751
us-gaap:FairValueMeasurementsRecurringMember
2020-12-31
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2019-12-31
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2019-12-31
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2019-12-31
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2020-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2020-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-09-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2020-12-31
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2020-12-31
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-12-31
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2021-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2021-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-09-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2020-06-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2020-06-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-06-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2021-06-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2021-06-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-06-30
0001519751
us-gaap:AccumulatedTranslationAdjustmentMember
2021-07-01
2021-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
2021-07-01
2021-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
2021-07-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001519751
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-01-01
2020-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:ForeignExchangeContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:CommodityContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:InterestRateContractMember
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001519751
us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember
2020-07-01
2020-09-30
0001519751
fbhs:WholesaleRetailTradeMember
2021-01-01
2021-09-30
0001519751
fbhs:WholesaleRetailTradeMember
2020-01-01
2020-09-30
0001519751
fbhs:WholesaleRetailTradeMember
2021-07-01
2021-09-30
0001519751
fbhs:WholesaleRetailTradeMember
2020-07-01
2020-09-30
0001519751
fbhs:HomeCenterRetailerMember
2021-01-01
2021-09-30
0001519751
fbhs:HomeCenterRetailerMember
2020-01-01
2020-09-30
0001519751
fbhs:HomeCenterRetailerMember
2021-07-01
2021-09-30
0001519751
fbhs:HomeCenterRetailerMember
2020-07-01
2020-09-30
0001519751
fbhs:OtherRetailerMember
2021-01-01
2021-09-30
0001519751
fbhs:OtherRetailerMember
2020-01-01
2020-09-30
0001519751
fbhs:OtherRetailerMember
2021-07-01
2021-09-30
0001519751
fbhs:OtherRetailerMember
2020-07-01
2020-09-30
0001519751
fbhs:BuilderMember
2021-01-01
2021-09-30
0001519751
fbhs:BuilderMember
2020-01-01
2020-09-30
0001519751
fbhs:BuilderMember
2021-07-01
2021-09-30
0001519751
fbhs:BuilderMember
2020-07-01
2020-09-30
0001519751
country:US
2021-01-01
2021-09-30
0001519751
country:US
2020-01-01
2020-09-30
0001519751
country:US
2021-07-01
2021-09-30
0001519751
country:US
2020-07-01
2020-09-30
0001519751
us-gaap:NonUsMember
2021-01-01
2021-09-30
0001519751
us-gaap:NonUsMember
2020-01-01
2020-09-30
0001519751
us-gaap:NonUsMember
2021-07-01
2021-09-30
0001519751
us-gaap:NonUsMember
2020-07-01
2020-09-30
0001519751
fbhs:NetPeriodicBenefitsCostMember
us-gaap:PensionPlansDefinedBenefitMember
2021-01-01
2021-09-30
0001519751
fbhs:NetPeriodicBenefitsCostMember
us-gaap:PensionPlansDefinedBenefitMember
2020-01-01
2020-09-30
0001519751
fbhs:NetPeriodicBenefitsCostMember
us-gaap:PensionPlansDefinedBenefitMember
2021-07-01
2021-09-30
0001519751
fbhs:NetPeriodicBenefitsCostMember
us-gaap:PensionPlansDefinedBenefitMember
2020-07-01
2020-09-30
0001519751
fbhs:PlumbingSegmentMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0001519751
fbhs:PlumbingSegmentMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0001519751
fbhs:CabinetsSegmentMember
us-gaap:OperatingSegmentsMember
2021-01-01
2021-09-30
0001519751
fbhs:CabinetsSegmentMember
us-gaap:OperatingSegmentsMember
2020-01-01
2020-09-30
0001519751
us-gaap:CorporateNonSegmentMember
2021-01-01
2021-09-30
0001519751
us-gaap:CorporateNonSegmentMember
2020-01-01
2020-09-30
0001519751
fbhs:PlumbingSegmentMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0001519751
fbhs:PlumbingSegmentMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0001519751
fbhs:OutdoorsAndSecuritySegmentMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0001519751
fbhs:CabinetsSegmentMember
us-gaap:OperatingSegmentsMember
2021-07-01
2021-09-30
0001519751
fbhs:CabinetsSegmentMember
us-gaap:OperatingSegmentsMember
2020-07-01
2020-09-30
0001519751
us-gaap:CorporateNonSegmentMember
2021-07-01
2021-09-30
0001519751
us-gaap:CorporateNonSegmentMember
2020-07-01
2020-09-30
0001519751
us-gaap:EmployeeSeveranceMember
2020-12-31
0001519751
fbhs:OtherChargesMember
2020-12-31
0001519751
us-gaap:EmployeeSeveranceMember
2021-01-01
2021-09-30
0001519751
fbhs:OtherChargesMember
2021-01-01
2021-09-30
0001519751
us-gaap:EmployeeSeveranceMember
2021-09-30
0001519751
fbhs:OtherChargesMember
2021-09-30
0001519751
us-gaap:EmployeeSeveranceMember
2019-12-31
0001519751
fbhs:OtherChargesMember
2019-12-31
0001519751
us-gaap:EmployeeSeveranceMember
2020-01-01
2020-09-30
0001519751
fbhs:OtherChargesMember
2020-01-01
2020-09-30
0001519751
us-gaap:EmployeeSeveranceMember
2020-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
|
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended September 30, 2021
OR
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 1-35166
FORTUNE BRANDS HOME & SECURITY, INC.
(Exact name of Registrant as specified in its charter)
|
Delaware |
|
62-1411546 |
|
(State or other jurisdiction of
incorporation or organization) |
|
(I.R.S. Employer
Identification No.) |
520 Lake Cook Road, Deerfield, Illinois 60015-5611
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (847) 484-4400
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
|
Common Stock |
FBHS |
New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
|
Large accelerated filer |
☒ |
|
Accelerated filer |
☐ |
|
Non-accelerated filer |
☐ |
|
Smaller reporting company |
☐ |
|
Emerging growth company |
☐ |
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares outstanding of the registrant’s common stock, par value $0.01 per share, at October 15, 2021 was 135,734,346.
PART I. FINANCIAL INFORMATION
|
Item 1. |
FINANCIAL STATEMENTS. |
FORTUNE BRANDS HOME & SECURITY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Nine and Three Months Ended September 30, 2021 and 2020
(In millions, except per share amounts)
(Unaudited)
|
|
|
Nine Months Ended |
|
|
Three Months Ended |
|
|
|
|
September 30, |
|
|
September 30, |
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
Net sales |
|
$ |
5,693.4 |
|
|
$ |
4,430.6 |
|
|
$ |
1,986.3 |
|
|
$ |
1,652.1 |
|
|
Cost of products sold |
|
|
3,637.2 |
|
|
|
2,873.9 |
|
|
|
1,280.0 |
|
|
|
1,071.5 |
|
|
Selling, general and administrative expenses |
|
|
1,166.3 |
|
|
|
918.4 |
|
|
|
400.2 |
|
|
|
328.3 |
|
|
Amortization of intangible assets |
|
|
48.5 |
|
|
|
31.1 |
|
|
|
15.9 |
|
|
|
10.5 |
|
|
Asset impairment charges |
|
|
— |
|
|
|
22.5 |
|
|
|
— |
|
|
|
— |
|
|
Restructuring charges |
|
|
11.5 |
|
|
|
16.5 |
|
|
|
3.6 |
|
|
|
1.6 |
|
|
Operating income |
|
|
829.9 |
|
|
|
568.2 |
|
|
|
286.6 |
|
|
|
240.2 |
|
|
Interest expense |
|
|
63.2 |
|
|
|
64.4 |
|
|
|
20.6 |
|
|
|
20.1 |
|
|
Other expense (income), net |
|
|
0.7 |
|
|
|
(13.4 |
) |
|
|
(1.3 |
) |
|
|
(2.1 |
) |
|
Income before taxes |
|
|
766.0 |
|
|
|
517.2 |
|
|
|
267.3 |
|
|
|
222.2 |
|
|
Income tax |
|
|
168.9 |
|
|
|
121.7 |
|
|
|
65.2 |
|
|
|
54.0 |
|
|
Income after tax |
|
|
597.1 |
|
|
|
395.5 |
|
|
|
202.1 |
|
|
|
168.2 |
|
|
Equity in losses of affiliate |
|
|
— |
|
|
|
4.7 |
|
|
|
— |
|
|
|
2.4 |
|
|
Net income |
|
|
597.1 |
|
|
|
390.8 |
|
|
|
202.1 |
|
|
|
165.8 |
|
|
Less: Noncontrolling interests |
|
|
— |
|
|
|
1.3 |
|
|
|
— |
|
|
|
1.2 |
|
|
Net income attributable to Fortune Brands |
|
$ |
597.1 |
|
|
$ |
389.5 |
|
|
$ |
202.1 |
|
|
$ |
164.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share |
|
$ |
4.32 |
|
|
$ |
2.81 |
|
|
$ |
1.47 |
|
|
$ |
1.19 |
|
|
Diluted earnings per common share |
|
$ |
4.26 |
|
|
$ |
2.78 |
|
|
$ |
1.45 |
|
|
$ |
1.17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income |
|
$ |
598.4 |
|
|
$ |
371.9 |
|
|
$ |
186.7 |
|
|
$ |
184.6 |
|
See notes to condensed consolidated financial statements.
2
FORTUNE BRANDS HOME & SECURITY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
|
|
|
September 30,
2021 |
|
|
December 31,
2020 |
|
|
Assets |
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
460.7 |
|
|
$ |
419.1 |
|
|
Accounts receivable less allowances for discounts and credit losses |
|
|
921.8 |
|
|
|
734.9 |
|
|
Inventories |
|
|
1,128.3 |
|
|
|
867.2 |
|
|
Other current assets |
|
|
215.2 |
|
|
|
187.3 |
|
|
Total current assets |
|
|
2,726.0 |
|
|
|
2,208.5 |
|
|
Property, plant and equipment, net of accumulated depreciation |
|
|
934.7 |
|
|
|
917.4 |
|
|
Operating lease assets |
|
|
199.4 |
|
|
|
170.2 |
|
|
Goodwill |
|
|
2,466.6 |
|
|
|
2,394.8 |
|
|
Other intangible assets, net of accumulated amortization |
|
|
1,401.3 |
|
|
|
1,420.3 |
|
|
Other assets |
|
|
140.8 |
|
|
|
247.5 |
|
|
Total assets |
|
$ |
7,868.8 |
|
|
$ |
7,358.7 |
|
|
Liabilities and equity |
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
735.7 |
|
|
|
620.5 |
|
|
Other current liabilities |
|
|
793.1 |
|
|
|
724.6 |
|
|
Total current liabilities |
|
|
1,528.8 |
|
|
|
1,345.1 |
|
|
Long-term debt |
|
|
2,629.1 |
|
|
|
2,572.2 |
|
|
Deferred income taxes |
|
|
167.2 |
|
|
|
160.5 |
|
|
Accrued defined benefit plans |
|
|
132.0 |
|
|
|
159.5 |
|
|
Operating lease liabilities |
|
|
166.9 |
|
|
|
140.5 |
|
|
Other non-current liabilities |
|
|
190.2 |
|
|
|
205.4 |
|
|
Total liabilities |
|
|
4,814.2 |
|
|
|
4,583.2 |
|
|
Commitments and contingencies (see Note 17) |
|
|
|
|
|
|
|
|
|
Stockholders' equity |
|
|
|
|
|
|
|
|
|
Common stock(a) |
|
|
1.9 |
|
|
|
1.8 |
|
|
Paid-in capital |
|
|
2,994.8 |
|
|
|
2,926.3 |
|
|
Accumulated other comprehensive loss |
|
|
(53.8 |
) |
|
|
(55.1 |
) |
|
Retained earnings |
|
|
2,670.0 |
|
|
|
2,180.2 |
|
|
Treasury stock |
|
|
(2,558.3 |
) |
|
|
(2,277.7 |
) |
|
Total stockholders' equity |
|
|
3,054.6 |
|
|
|
2,775.5 |
|
|
Total liabilities and equity |
|
$ |
7,868.8 |
|
|
$ |
7,358.7 |
|
|
(a) |
Common stock, par value $0.01 per share; 185.1 million shares and 184.1 million shares issued at September 30, 2021 and December 31, 2020, respectively. |
See notes to condensed consolidated financial statements.
3
FORTUNE BRANDS HOME & SECURITY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Nine Months Ended September 30, 2021 and 2020
(In millions)
(Unaudited)
|
|
|
2021 |
|
|
2020 |
|
|
Operating activities |
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
597.1 |
|
|
$ |
390.8 |
|
|
Non-cash adjustments: |
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
92.9 |
|
|
|
85.8 |
|
|
Amortization of intangibles |
|
|
48.5 |
|
|
|
31.1 |
|
|
Non-cash lease expense |
|
|
31.8 |
|
|
|
26.6 |
|
|
Stock-based compensation |
|
|
36.0 |
|
|
|
33.5 |
|
|
Recognition of actuarial losses |
|
|
1.1 |
|
|
|
0.6 |
|
|
Deferred taxes |
|
|
9.6 |
|
|
|
(17.0 |
) |
|
Asset impairment charges |
|
|
— |
|
|
|
22.5 |
|
|
Amortization of deferred financing fees |
|
|
2.8 |
|
|
|
3.3 |
|
|
Equity in losses of affiliate |
|
|
— |
|
|
|
4.7 |
|
|
Loss (gain) on equity investments |
|
|
2.9 |
|
|
|
(6.6 |
) |
|
Loss on sale of property, plant and equipment |
|
|
1.5 |
|
|
|
1.3 |
|
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
|
Increase in accounts receivable |
|
|
(186.2 |
) |
|
|
(164.4 |
) |
|
Increase in inventories |
|
|
(258.0 |
) |
|
|
(20.5 |
) |
|
Increase in accounts payable |
|
|
116.5 |
|
|
|
88.5 |
|
|
Increase in other assets |
|
|
(0.6 |
) |
|
|
(21.2 |
) |
|
(Decrease) increase in accrued expenses and other liabilities |
|
|
(65.0 |
) |
|
|
25.0 |
|
|
(Decrease) increase in accrued taxes |
|
|
(0.1 |
) |
|
|
22.8 |
|
|
Net cash provided by operating activities |
|
|
430.8 |
|
|
|
506.8 |
|
|
Investing activities |
|
|
|
|
|
|
|
|
|
Capital expenditures (a) |
|
|
(113.0 |
) |
|
|
(66.2 |
) |
|
Proceeds from the disposition of assets |
|
|
1.7 |
|
|
|
1.5 |
|
|
Cost of acquisitions, net of cash acquired |
|
|
5.2 |
|
|
|
— |
|
|
Cost of investments in equity securities |
|
|
— |
|
|
|
(59.4 |
) |
|
Net cash used in investing activities |
|
|
(106.1 |
) |
|
|
(124.1 |
) |
|
Financing activities |
|
|
|
|
|
|
|
|
|
Issuance of long-term debt |
|
|
825.0 |
|
|
|
1,020.0 |
|
|
Repayment of long-term debt |
|
|
(770.0 |
) |
|
|
(1,120.0 |
) |
|
Proceeds from the exercise of stock options |
|
|
32.6 |
|
|
|
56.0 |
|
|
Treasury stock purchases(b) |
|
|
(252.9 |
) |
|
|
(150.0 |
) |
|
Employee withholding taxes related to stock-based compensation |
|
|
(10.5 |
) |
|
|
(8.3 |
) |
|
Dividends to stockholders |
|
|
(107.9 |
) |
|
|
(99.9 |
) |
|
Dividends paid to non-controlling interests |
|
|
— |
|
|
|
(2.5 |
) |
|
Other financing, net |
|
|
(1.4 |
) |
|
|
(4.1 |
) |
|
Net cash used in financing activities |
|
|
(285.1 |
) |
|
|
(308.8 |
) |
|
Effect of foreign exchange rate changes on cash |
|
|
1.0 |
|
|
|
1.9 |
|
|
Net increase in cash and cash equivalents |
|
$ |
40.6 |
|
|
$ |
75.8 |
|
|
Cash, cash equivalents and restricted cash(c) at beginning of period |
|
$ |
425.0 |
|
|
$ |
394.9 |
|
|
Cash, cash equivalents and restricted cash(c) at end of period |
|
$ |
465.6 |
|
|
$ |
470.7 |
|
|
(a) |
Capital expenditures of $12.6 million and $3.5 million that had not been paid as of September 30, 2021 and 2020, respectively, were excluded from the Statement of Cash Flows. |
|
(b) |
Treasury stock purchased for the nine months ended September 30, 2021 excludes $17.2 million related to purchases that were not settled until after October 1, 2021. |
|
(c) |
Restricted cash of $1.2 million and $3.7 million is included in Other current assets and Other assets, respectively, as of September 30, 2021 and restricted cash of $1.0 million and $5.2 million is included in Other current assets and Other assets, respectively, as of September 30, 2020. Restricted cash of $1.0 million and $4.9 million is included in Other current assets and Other assets, respectively, as of December 31, 2020. |
See notes to condensed consolidated financial statements.
4
FORTUNE BRANDS HOME & SECURITY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
For the Nine and Three Months Ended September 30, 2021 and 2020
(In millions)
(Unaudited)
|
|
|
Common
Stock |
|
|
Paid-In
Capital |
|
|
Accumulated
Other
Comprehensive
(Loss) Income |
|
|
Retained
Earnings |
|
|
Treasury
Stock |
|
|
Non-
controlling
Interests |
|
|
Total
Equity |
|
|
Balance at December 31, 2019 |
|
$ |
1.8 |
|
|
$ |
2,813.8 |
|
|
$ |
(72.6 |
) |
|
$ |
1,763.0 |
|
|
$ |
(2,079.4 |
) |
|
$ |
1.2 |
|
|
$ |
2,427.8 |
|
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
389.5 |
|
|
|
— |
|
|
|
1.3 |
|
|
|
390.8 |
|
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
(18.9 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(18.9 |
) |
|
Stock options exercised |
|
|
— |
|
|
|
56.0 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
56.0 |
|
|
Stock-based compensation |
|
|
— |
|
|
|
33.5 |
|
|
|
— |
|
|
|
— |
|
|
|
(8.3 |
) |
|
|
— |
|
|
|
25.2 |
|
|
Treasury stock purchases |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(150.0 |
) |
|
|
— |
|
|
|
(150.0 |
) |
|
Dividends to non-controlling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2.5 |
) |
|
|
(2.5 |
) |
|
Dividends ($0.72 per common share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(99.8 |
) |
|
|
— |
|
|
|
— |
|
|
|
(99.8 |
) |
|
Balance at September 30, 2020 |
|
$ |
1.8 |
|
|
$ |
2,903.3 |
|
|
$ |
(91.5 |
) |
|
$ |
2,052.7 |
|
|
$ |
(2,237.7 |
) |
|
$ |
— |
|
|
$ |
2,628.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2020 |
|
$ |
1.8 |
|
|
$ |
2,926.3 |
|
|
$ |
(55.1 |
) |
|
$ |
2,180.2 |
|
|
$ |
(2,277.7 |
) |
|
$ |
— |
|
|
$ |
2,775.5 |
|
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
597.1 |
|
|
|
— |
|
|
|
— |
|
|
|
597.1 |
|
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
1.3 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1.3 |
|
|
Stock options exercised |
|
|
0.1 |
|
|
|
32.5 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32.6 |
|
|
Stock-based compensation |
|
|
— |
|
|
|
36.0 |
|
|
|
— |
|
|
|
— |
|
|
|
(10.5 |
) |
|
|
— |
|
|
|
25.5 |
|
|
Treasury stock purchases |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(270.1 |
) |
|
|
— |
|
|
|
(270.1 |
) |
|
Dividends ($0.78 per common share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(107.3 |
) |
|
|
— |
|
|
|
— |
|
|
|
(107.3 |
) |
|
Balance at September 30, 2021 |
|
$ |
1.9 |
|
|
$ |
2,994.8 |
|
|
$ |
(53.8 |
) |
|
$ |
2,670.0 |
|
|
$ |
(2,558.3 |
) |
|
$ |
— |
|
|
$ |
3,054.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
Stock |
|
|
Paid-In
Capital |
|
|
Accumulated
Other
Comprehensive
(Loss) Income |
|
|
Retained
Earnings |
|
|
Treasury
Stock |
|
|
Non-
controlling
Interests |
|
|
Total
Equity |
|
|
Balance at June 30, 2020 |
|
$ |
1.8 |
|
|
$ |
2,852.9 |
|
|
$ |
(110.3 |
) |
|
$ |
1,954.7 |
|
|
$ |
(2,237.3 |
) |
|
$ |
1.3 |
|
|
$ |
2,463.1 |
|
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
164.6 |
|
|
|
— |
|
|
|
1.2 |
|
|
|
165.8 |
|
|
Other comprehensive income (loss) |
|
|
— |
|
|
|
— |
|
|
|
18.8 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
18.8 |
|
|
Stock options exercised |
|
|
— |
|
|
|
31.9 |
|
|
|
— |
|
|
|
— |
|
|
|
— |