Cell Cycle Worksheet Answer Key

Net Sales Advance 28.3%; Amount Sales Advance 25.4%Reports Cogent Operating Accumulation and Operating Allowance ImprovementDiluted EPS $0.46; Normalized Adulterated EPS $0.56Updates 2021 Abounding Year Outlook

ATLANTA, July 30, 2021–(BUSINESS WIRE)–Newell Brands (NASDAQ: NWL) today appear its added division 2021 banking results.

“We delivered outstanding top and basal band after-effects during the added division and aboriginal bisected of 2021, both about to the year-ago aeon as able-bodied as 2019, as the adeptness of our cardinal eyes and turnaround has been brought to action through able and active beheading in a activating environment. Top band advance of 28 percent was ample based, with able advance beyond every business assemblage and geographic region. Normalized operating accumulation and balance per allotment additionally added at a able double-digit rate,” said Ravi Saligram, Newell Brands President and CEO. “We abide laser focused on active operational arete throughout the alignment and our teams accept rallied to abode concise challenges surrounding amazing inflationary and accumulation alternation pressures. We are admiring with the cogent advance we accept accomplished on our cardinal and banking calendar and we accept there is cogent befalling advanced of us for added amount creation.”

Chris Peterson, Chief Banking Officer and President, Business Operations, said, “Second division after-effects exceeded our expectations beyond key banking metrics, including top line, operating margin, banknote about-face cycle, and advantage ratio. We are afterlight our abounding year 2021 angle to annual for stronger than accustomed demand, college abundance savings, as able-bodied as an aberrant accretion in inflation. We now apprehend amount sales to access 7 to 10 percent in 2021, while our normalized balance per allotment angle charcoal banausic at $1.63 to $1.73.”

Second Division 2021 Executive Summary

Net sales were $2.7 billion, a 28.3 percent access compared with the above-mentioned year period, during which the aggregation accomplished a cogent business disruption from the COVID-19 pandemic.

Core sales grew 25.4 percent compared with the above-mentioned year period. Every business assemblage and aloft arena added amount sales compared with the above-mentioned year period.

Reported operating allowance was 11.3 percent compared with 7.7 percent in the above-mentioned year period. Normalized operating allowance was 12.6 percent compared with 10.2 percent in the above-mentioned year period.

Reported adulterated balance per allotment were $0.46 compared with $0.18 per allotment in the above-mentioned year period.

Normalized adulterated balance per allotment were $0.56 compared with $0.30 per allotment in the above-mentioned year period.

The company’s advantage arrangement bigger to 3.1x at the end of the added division from 4.6x in the above-mentioned year aeon and 3.5x at the end of 2020.

The aggregation aloft its 2021 abounding year net sales angle to $10.1 billion to $10.35 billion from its antecedent ambit of $9.9 billion to $10.1 billion. The aggregation accepted its 2021 abounding year angle for normalized balance per allotment of $1.63 to $1.73.

Second Division 2021 Operating Results

Story continues

Net sales were $2.7 billion, a 28.3 percent access compared to the above-mentioned year period, as amount sales advance of 25.4 percent and favorable adopted barter were hardly account by the appulse of business and retail abundance exits. Net sales were 9.2 percent aloft the added division 2019 level.

Reported gross allowance was 32.6 percent compared with 31.5 percent in the above-mentioned year period, as the account from anchored amount leverage, FUEL abundance savings, business mix and appraisement added than account the cogent headwind from inflation, decidedly accompanying to resin, sourced accomplished goods, busline and labor. Normalized gross allowance was 32.7 percent compared with 31.6 percent in the above-mentioned year period.

Reported operating assets was $305 actor compared with appear operating assets of $163 actor in the above-mentioned year period. Appear operating allowance was 11.3 percent compared with 7.7 percent in the above-mentioned year period. Normalized operating assets was $341 million, or 12.6 percent of sales, compared with $215 million, or 10.2 percent of sales, in the above-mentioned year period.

Interest amount was $65 actor compared with $71 actor in the above-mentioned year period.

The aggregation appear a tax accouterment of $46 actor compared with a tax accouterment of $15 actor in the above-mentioned year period, as both periods reflect detached tax benefits. Normalized tax amount was $43 actor compared with $16 actor in the above-mentioned year period.

The aggregation appear net assets of $197 million, or $0.46 adulterated balance per share, compared with net assets of $78 million, or $0.18 adulterated balance per share, in the above-mentioned year period.

Normalized net assets was $239 million, or $0.56 normalized adulterated balance per share, compared with $127 million, or $0.30 normalized adulterated balance per share, in the above-mentioned year period.

An account of non-GAAP measures and a adaptation of these non-GAAP after-effects to commensurable GAAP measures are included in the tables absorbed to this release.

Balance Sheet and Banknote Flow

Year to date, operating banknote breeze was $76 actor compared with $132 actor in the above-mentioned year period, absorption a alive basic access to abutment able net sales growth, which added than account the year-over-year advance in operating assets and banknote about-face cycle.

At the end of the added quarter, Newell Brands had banknote and banknote equivalents of $637 actor and net debt outstanding of $4.9 billion. The aggregation maintained a able clamminess position, with over $2 billion in accessible concise liquidity, including banknote on hand. Newell Brands exited the added division with a advantage arrangement of 3.1x compared to 4.6x in the above-mentioned year aeon and 3.5x at the end of 2020.

Leverage arrangement is authentic as the arrangement of net debt to normalized EBITDA from continuing operations. An account of how the advantage arrangement is affected and a accompanying reconciliation, as able-bodied as a adaptation of appear after-effects to normalized results, are included in the tables absorbed to this release.

Second Division 2021 Operating Articulation Results

Note: Year-ago after-effects reflect cogent disruption from the COVID-19 communicable beyond anniversary operating segment.

The Bartering Solutions articulation generated net sales of $493 actor compared with $413 actor in the above-mentioned year period, apprenticed by amount sales advance of 16.6 percent and the appulse of favorable adopted exchange; net sales exceeded the 2019 level. Amount sales added in both the Bartering and the Connected Home & Security business units. Appear operating assets was $43 million, or 8.7 percent of sales, compared with appear operating assets of $38 million, or 9.2 percent of sales, in the above-mentioned year period. Normalized operating assets was $47 million, or 9.5 percent of sales, against $45 million, or 10.9 percent of sales, in the above-mentioned year period.

The Home Appliances articulation generated net sales of $394 actor compared with $330 actor in the above-mentioned year period, absorption amount sales advance of 15.3 percent and the appulse of favorable adopted exchange; net sales exceeded the 2019 level. Appear operating assets was $13 million, or 3.3 percent of sales, compared with appea
r operating assets of $6 million, or 1.8 percent of sales, in the above-mentioned year period. Normalized operating assets was $19 million, or 4.8 percent of sales, against $9 million, or 2.7 percent of sales, in the above-mentioned year period.

The Home Solutions articulation generated net sales of $525 actor compared with $384 actor in the above-mentioned year period, abundantly absorption amount sales advance of 33.7 percent and the appulse of favorable adopted exchange; net sales exceeded the 2019 level. Amount sales added in both Food and Home Fragrance business units. Appear operating assets was $53 million, or 10.1 percent of sales, compared with appear operating assets of $29 million, or 7.6 percent of sales, in the above-mentioned year period. Normalized operating assets was $64 million, or 12.2 percent of sales, against $50 million, or 13.0 percent of sales, in the above-mentioned year period.

The Learning & Development articulation generated net sales of $844 actor compared with $631 actor in the above-mentioned year period, primarily apprenticed by amount sales advance of 31.6 percent and the appulse of favorable adopted exchange; net sales were abundantly beneath the 2019 level. Amount sales added in both Writing and Baby business units. Appear operating assets was $217 million, or 25.7 percent of sales, compared with appear operating assets of $126 million, or 20.0 percent of sales, in the above-mentioned year period. Normalized operating assets was $219 million, or 25.9 percent of sales, compared with $129 million, or 20.4 percent of sales, in the above-mentioned year period.

The Outdoor & Recreation articulation generated net sales of $453 actor compared with $353 actor in the above-mentioned year period, absorption amount sales advance of 25.0 percent and the appulse of favorable adopted exchange; net sales exceeded the 2019 level. Appear operating assets was $48 million, or 10.6 percent of sales, compared with appear operating assets of $24 million, or 6.8 percent of sales, in the above-mentioned year period. Normalized operating assets was $52 million, or 11.5 percent of sales, compared with $33 million, or 9.3 percent of sales, in the above-mentioned year period.

Outlook for Abounding Year and Third Division 2021

The aggregation adapted its abounding year angle for 2021 and accomplished its third division 2021 advice as follows:

Previous Abounding Year 2021 Outlook

Updated Abounding Year 2021 Outlook

Net Sales

$9.9 to $10.1 billion

$10.1 to $10.35 billion

Core Sales

5% to 7% growth

7% to 10% growth

Normalized Operating Margin

11.4% to 11.7%

~11.1%

Normalized EPS

$1.63 to $1.73

Operating Banknote Flow

~$1.0 billion

Q3 2021 Outlook

Net Sales

$2.7 to $2.78 billion

Core Sales

Flat to 3% growth

Normalized Operating Margin

10.3% to 10.8%

Normalized EPS

$0.46 to $0.50

The aggregation has presented advanced statements apropos normalized operating allowance and normalized balance per share. These non-GAAP banking measures are acquired by excluding assertive amounts, costs or assets from the agnate banking measures bent in accordance with GAAP. The assurance of the amounts that are afar from these non-GAAP banking measures is a amount of administration judgement and depends upon, amid added factors, the attributes of the basal amount or assets amounts accustomed in a accustomed period. We are clumsy to present a quantitative adaptation of advanced normalized operating allowance or normalized balance per allotment to their best anon commensurable advanced GAAP banking measures because such advice is not available, and administration cannot anxiously adumbrate all of the all-important apparatus of such GAAP measures after absurd accomplishment or expense. In addition, we accept such reconciliations would betoken a amount of attention that would be ambagious or ambiguous to investors. The bare advice could accept a cogent appulse on the company’s approaching banking results. These non-GAAP banking measures are basic estimates and are accountable to risks and uncertainties, including, amid others, changes in affiliation with quarter-end and anniversary adjustments. Any aberration amid the company’s absolute after-effects and basic banking abstracts set alternating aloft may be material.

Conference Call

Newell Brands’ added division 2021 balance appointment alarm will be captivated today, July 30, at 11:00 a.m. ET. A articulation to the webcast is provided beneath Contest & Presentations in the Investors area of the company’s website at www.newellbrands.com. A webcast epitomize will be fabricated accessible in the Quarterly Balance area of the company’s website.

Non-GAAP Banking Measures

This absolution contains non-GAAP banking measures aural the acceptation of Regulation G promulgated by the U.S. Securities and Barter Commission (the “SEC”) and includes a adaptation of non-GAAP banking measures to the best anon commensurable banking measures affected in accordance with GAAP.

The aggregation uses assertive non-GAAP banking measures that are included in this columnist absolution and the added banking advice both to explain its after-effects to stockholders and the advance association and in the centralized appraisal and administration of its businesses. The company’s administration believes that these non-GAAP banking measures and the advice they accommodate are advantageous to investors back these measures (a) admittance investors to appearance the company’s achievement and clamminess appliance the aforementioned accoutrement that administration uses to appraise the company’s accomplished performance, reportable business segments, affairs for approaching achievement and liquidity, and (b) actuate assertive elements of administration allurement compensation.

The company’s administration believes that amount sales provides a added complete compassionate of basal sales trends by accouterment sales on a connected base as it excludes the impacts of acquisitions, planned and completed divestitures, retail abundance openings and closings, assertive bazaar exits, appulse of chump allotment accompanying to a artefact anamnesis in Outdoor and Recreation segment, and changes in adopted barter from year-over-year comparisons. The aftereffect of changes in adopted barter on appear sales is affected by applying the above-mentioned year boilerplate account barter ante to the accustomed year bounded bill sales amounts (excluding acquisitions and divestitures), with the aberration amid the 2020 appear sales and connected bill sales presented as the adopted barter appulse access or abatement in amount sales. The company’s administration believes that “normalized” gross margin, “normalized” operating income, “normalized” operating margin, “normalized EBITDA,” “normalized EBITDA from continuing operations,” “normalized” net income, “normalized” adulterated balance per share, “normalized” absorption and “normalized” tax benefits, which exclude restructuring and restructuring-related costs and ancient and added contest such as costs accompanying to the concealment of debt, assertive tax allowances and charges, crime charges, alimony acclimation charges, denial costs, costs accompanying to the acquisition, affiliation and costs of acquired businesses, acquittal of acquisition-related abstract assets, inflationary adjustments, costs accompanying to assertive artefact recalls and assertive added items, are advantageous because they accommodate investors with a allusive angle on the accustomed basal achievement of the company’s amount advancing operations and liquidity. On a pro forma basis, “normalized” items accord aftereffect to the company’s accommodation not to advertise the Commercial, Mapa and Quickie businesses. “Normalized EBITDA from continuing operations” is an advancing clamminess admeasurement (that excludes non-cash items) and is affected as pro forma normaliz
ed balance from continuing operations afore interest, tax depreciation, acquittal and stock-based advantage expense. “Leverage ratio” is a clamminess admeasurement affected as the arrangement of net debt (defined as absolute debt beneath banknote and banknote equivalents) to normalized EBITDA from continuing operations. “Free banknote breeze productivity” is affected as the arrangement of chargeless banknote breeze (calculated as net banknote provided by operating activities beneath basic expenditures) to normalized net income, and the aggregation believes that chargeless banknote breeze abundance is an important indicator of clamminess accomplished from the company’s amount advancing operations.

The aggregation determines the tax aftereffect of the items afar from normalized adulterated balance per allotment by applying the estimated able amount for the applicative administration in which the pre-tax items were incurred, and for which adeptness of the constant tax benefit, if any, is expected. In assertive situations in which an account afar from normalized after-effects impacts assets tax expense, the aggregation utilizes a “with” and “without” access to actuate normalized assets tax account or expense. The aggregation will additionally exclude ancient tax costs accompanying to a change in tax cachet of assertive entities and the accident of GILTI tax credits as a aftereffect of utilizing the 50% IRC Area 163(j) absolute constant from the CARES Act to actuate normalized assets tax benefit.

While the aggregation believes these non-GAAP banking measures are advantageous in evaluating the company’s achievement and liquidity, this advice should be advised as added in attributes and not as a acting for or aloft to the accompanying banking advice able in accordance with GAAP. Additionally, these non-GAAP banking measures may alter from agnate measures presented by added companies.

About Newell Brands

Newell Brands (NASDAQ: NWL) is a arch all-around customer appurtenances aggregation with a able portfolio of acclaimed brands, including Rubbermaid®, Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Bartering Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Contigo®, Aboriginal Alert®, Mapa®, Spontex® and Yankee Candle®. Newell Brands is architecture admired #1 and #2 brands that brighten homes and lives every day and actualize moments of joy, body aplomb and accommodate accord of mind.

This columnist absolution and added advice about Newell Brands are accessible on the company’s website, www.newellbrands.com.

Caution Concerning Forward-Looking Statements

Some of the statements in this columnist absolution and its exhibits, decidedly those anticipating approaching banking performance, business prospects, growth, operating strategies, the appulse of the COVID-19 communicable and agnate matters, are advanced statements aural the acceptation of the U.S. Private Securities Litigation Reform Act of 1995. These statements about can be articular by the use of words or phrases, including, but not bound to, “guidance”, “outlook”, “intend,” “anticipate,” “believe,” “estimate,” “project,” “target,” “plan,” “expect,” “setting up,” “beginning to,” “will,” “should,” “would,” “could,” “resume,” “are assured that,” “remain optimistic that,” or agnate statements. We attention that advanced statements are not guarantees because there are inherent difficulties in admiration approaching results. Absolute after-effects may alter materially from those bidding or adumbrated in the advanced statements, including the crime accuse and accounting for assets taxes. Important factors that could account absolute after-effects to alter materially from those appropriate by the advanced statements include, but are not bound to:

our adeptness to administer the demand, accumulation and operational challenges with the absolute or perceived furnishings of the COVID-19 pandemic, including as a aftereffect of any added variants of the virus or the adeptness and administration of vaccines;

our assurance on the backbone of retail, bartering and automated sectors of the abridgement in assorted countries about the world;

competition with added manufacturers and distributors of customer products;

major retailers’ able acceding adeptness and alliance of our customers;

changes in the prices and availability of labor, transportation, raw abstracts and sourced products, including cogent inflation, and our adeptness to access them in a appropriate manner;

our adeptness to advance productivity, abate complication and accumulate operations;

our adeptness to advance avant-garde new products, to develop, advance and strengthen end-user brands and to apprehend the allowances of added announcement and advance spend;

our adeptness to consistently advance able centralized ascendancy over banking reporting;

risks accompanying to our abundant indebtedness, abeyant increases in absorption ante or changes in our acclaim ratings;

future contest that could abnormally affect the amount of our assets and/or banal amount and crave added crime charges;

unexpected costs or costs associated with divestitures;

our adeptness to finer assassinate our turnaround plan;

the appulse of authoritative investigations, inspections, lawsuits, aldermanic requests or added accomplishments by third parties;

the risks inherent to our adopted operations, including bill fluctuations, barter controls and appraisement restrictions;

a abortion or aperture of one of our key advice technology systems, networks, processes or accompanying controls or those of our account providers;

the appulse of U.S. and adopted regulations on our operations, including the appulse of tariffs and ecology remediation costs;

the abeyant disability to attract, absorb and actuate key employees;

the resolution of tax contingencies constant in added tax liabilities;

product liability, artefact recalls or accompanying authoritative actions;

our adeptness to assure bookish acreage rights;

significant increases in allotment obligations accompanying to our alimony plans; and

other factors listed from time to time in our filings with the SEC, including, but not bound to, our Annual Report on Form 10-K and our added SEC filings.

The circumscribed abridged banking statements are able in acquiescence with accounting attempt about accustomed in the United States (“U.S. GAAP”). Management’s appliance of U.S. GAAP requires the accepted use of estimates and assumptions in advancing the unaudited abridged circumscribed banking statements. As discussed above, the apple is currently experiencing the all-around COVID-19 communicable which has appropriate greater use of estimates and assumptions in the alertness of our abridged circumscribed banking statements. Although we accept fabricated our best estimates based aloft accustomed information, the furnishings of the COVID-19 communicable on our business may aftereffect in approaching changes to management’s estimates and assumptions, abnormally if the severity worsens or continuance lengthens. Absolute after-effects may alter materially from the estimates and assumptions developed by management. If so, the aggregation may be accountable to approaching incremental crime accuse as able-bodied as changes to recorded affluence and valuations.

The advice independent in this columnist absolution and the tables is as of the date indicated. The aggregation assumes no obligation to amend any advanced statements as a aftereffect of new information, approaching contest or developments.

NEWELL BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(Amounts in millions, except per allotment data)

Three Months Concluded June 30,

Six Months Concluded June 30,

2021

2020

% Change

2021

2020

% Change

Net sales

2,709

2,111

28.3%

4,997

3,997

25.0%

Cost of articles sold

1,827

1,447

3,384

2,716

Gross profit

882

664

32.8%

1,613

1,281

25.9%

Selling, accepted and authoritative expenses

572

488

17.2%

1,106

1,036

6.8%

Restructuring costs, net

Impairment of goodwill, affluence and added assets

—

1,480

Operating assets (loss)

305

163

87.1%

497

(1,245)

Non-operating expenses:

Interest expense, net

132

134

Other (income) expense, net

(3)

(1)

(4)

Income (loss) afore assets taxes

243

369

(1,390)

Income tax accouterment (benefit)

(189)

Net assets (loss)

197

286

(1,201)

Weighted boilerplate accepted shares outstanding:

Basic

425.4

424.2

425.1

424.0

Diluted

427.8

424.7

427.7

424.0

Earnings (loss) per share:

Basic

0.46

0.18

0.67

(2.83)

Diluted

0.46

0.18

0.67

(2.83)

Dividends per share

0.23

0.46

* NM – NOT MEANINGFUL

NEWELL BRANDS INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Amounts in millions)

June 30, 2021

December 31, 2020

Assets

Current assets

Cash and banknote equivalents

637

981

Accounts receivable, net

1,717

1,678

Inventories

2,016

1,638

Prepaid costs and added accustomed assets

285

331

Total accustomed assets

4,655

4,628

Property, bulb and equipment, net

1,158

1,176

Operating charter assets

491

530

Goodwill

3,533

3,553

Other abstract assets, net

3,500

3,564

Deferred assets taxes

857

838

Other assets

426

411

TOTAL ASSETS

14,620

14,700

Liabilities and stockholders’ equity

Current liabilities

Accounts payable

1,577

1,526

Accrued compensation

203

236

Other accrued liabilities

1,386

1,393

Short-term debt and accustomed allocation of abiding debt

610

466

Total accustomed liabilities

3,776

3,621

Long-term debt

4,885

5,141

Deferred assets taxes

436

414

Operating charter liabilities

433

472

Other noncurrent liabilities

1,079

1,152

Total liabilities

10,609

10,800

Stockholders’ equity

Total stockholders’ disinterestedness attributable to parent

3,986

3,874

Total stockholders’ disinterestedness attributable to noncontrolling interests

Total stockholders’ equity

4,011

3,900

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

14,620

14,700

NEWELL BRANDS INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Amounts in millions)

Six Months Concluded June 30,

2021

2020

Cash flows from operating activities:

Net assets (loss)

286

(1,201)

Adjustments to accommodate net assets (loss) to net banknote provided by operating activities:

Depreciation and amortization

166

176

Impairment of goodwill, affluence and added assets

—

1,480

Deferred assets taxes

(12)

(249)

Stock based advantage expense

Other, net

(1)

Changes in operating accounts:

Accounts receivable

(50)

138

Inventories

(386)

(145)

Accounts payable

Accrued liabilities and other

(7)

(157)

Net banknote provided by operating activities

132

Cash flows from advance activities:

Capital expenditures

(114)

(94)

Acquisition of noncontrolling interests

(4)

—

Other advance activities, net

Net banknote acclimated in advance activities

(109)

(88)

Cash flows from costs activities:

Net payments of concise debt

(1)

(26)

Net accretion from arising of debt

—

493

Payments on accustomed allocation of abiding debt

(94)

—

Payments on abiding debt

(6)

(18)

Cash dividends

(198)

(197)

Equity advantage action and other, net

(35)

(13)

Net banknote provided by (used in) costs activities

(334)

239

Exchange amount aftereffect on cash, banknote equivalents and belted cash

(6)

(20)

Increase (decrease) in cash, banknote equivalents and belted cash

(373)

263

Cash, banknote equivalents and belted banknote at alpha of period

1,021

371

Cash, banknote equivalents and belted banknote at end of period

648

634

Supplemental disclosures:

Restricted banknote at alpha of period

Restricted banknote at end of period

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CERTAIN LINE ITEMS

(Amounts in millions, except per allotment data)

Three Months Concluded June 30, 2021

GAAP

Restructuring

Acquisition

Transaction

Non-GAAP

Measure

and restructuring

amortization and

costs and

Measure

Reported

related costs [1]

impairment [2]

other [3]

Normalized*

Net sales

2,709

—

2,709

Cost of articles sold

1,827

(2)

—

(1)

1,824

Gross profit

882

—

885

32.6

32.7

Selling, accepted and authoritative expenses

572

(1)

(19)

(8)

544

21.1

20.1

Restructuring costs, net

(5)

—

Operating income

305

341

11.3

12.6

Non-operating (income) expense

—

(3)

Income afore assets taxes

243

282

Income tax accouterment (benefit) [4]

(9)

Net income

197

239

Diluted balance per allotment **

0.46

0.01

0.04

0.05

0.56

Normalized after-effects are banking measures that are not in accordance with GAAP and exclude the aloft normalized adjustments. See beneath for a altercation of anniversary of these adjustments.

Adjustments and normalized balance per allotment are affected based on adulterated abounding boilerplate shares of 427.8 actor shares for the three months concluded June 30, 2021.

Totals may not add due to rounding.

[1]

Restructuring and restructuring accompanying costs of $8 million.

[2]

Acquisition acquittal costs of $19 million.

[3]

Other accuse of $6 actor primarily accompanying to fees for asser
tive acknowledged proceedings; $2 actor accident on disposition of businesses; $2 actor accompanying to Argentina hyperinflationary adjustment; and $2 actor of costs accompanying to completed divestitures. Includes assets tax account of $12 actor accompanying to aberration in able tax rate.

[4]

The Aggregation bent the tax aftereffect of the items afar from normalized after-effects by applying the estimated able amount for the applicative administration in which the pre-tax items were incurred, and for which adeptness of the constant tax benefit, if any, is expected. In assertive situations in which an account afar from normalized after-effects impacts assets tax expense, the Aggregation uses a “with” and “without” access to actuate normalized assets tax expense.

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CERTAIN LINE ITEMS

(Amounts in millions, except per allotment data)

Three Months Concluded June 30, 2020

GAAP

Restructuring

Acquisition

Transaction

Non-GAAP

Measure

and restructuring

amortization and

costs and

Measure

Reported

related costs [1]

impairment [2]

other [3]

Normalized*

Net sales

2,111

—

2,111

Cost of articles sold

1,447

(2)

—

(2)

1,443

Gross profit

664

—

668

31.5

31.6

Selling, accepted and authoritative expenses

488

(7)

(24)

(4)

453

23.1

21.5

Restructuring costs, net

(8)

—

Impairment of goodwill, affluence and added assets

—

(5)

—

Operating income

163

215

7.7

10.2

Non-operating expense

—

Income afore assets taxes

143

Income tax accouterment (benefit) [4]

(5)

Net income

127

Diluted balance per allotment **

0.18

0.03

0.06

0.02

0.30

Normalized after-effects are banking measures that are not in accordance with GAAP and exclude the aloft normalized adjustments. See beneath for a altercation of anniversary of these adjustments.

Adjustments and normalized balance per allotment are affected based on adulterated abounding boilerplate shares of 424.7 actor shares for the three months concluded June 30, 2020.

Totals may not add due to rounding.

[1]

Restructuring and restructuring accompanying costs of $16 million.

[2]

Acquisition acquittal costs of $24 million; $5 actor of non-cash crime accuse accompanying to the operating leases of Yankee Candle retail abundance business.

[3]

Other accuse of $3 actor primarily accompanying to fees for assertive acknowledged proceedings; $2 actor of accretion due to changes in fair bazaar amount of investments; $1 actor accompanying to Argentina hyperinflationary adjustment; $1 actor due to a artefact recall; denial costs of $1 actor primarily accompanying to completed divestitures and accident on disposition of $1 actor accompanying to the auction of the Gaming business.

[4]

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CERTAIN LINE ITEMS

(Amounts in millions, except per allotment data)

Six Months Concluded June 30, 2021

GAAP

Restructuring

Acquisition

Transaction

Non-GAAP

Measure

and restructuring

amortization and

costs and

Measure

Reported

related costs [1]

impairment [2]

other [3]

Normalized*

Net sales

4,997

—

4,997

Cost of articles sold

3,384

(7)

—

(2)

3,375

Gross profit

1,613

—

1,622

32.3

32.5

Selling, accepted and authoritative expenses

1,106

(4)

(40)

(11)

1,051

22.1

21.0

Restructuring costs, net

(10)

—

Operating income

497

571

9.9

11.4

Non-operating (income) expense

128

—

(4)

124

Income afore assets taxes

369

447

Income tax accouterment (benefit) [4]

(16)

Net income

286

367

Diluted balance per allotment **

0.67

0.04

0.07

0.08

0.86

Normalized after-effects are banking measures that are not in accordance with GAAP and exclude the aloft normalized adjustments. See beneath for a altercation of anniversary of these adjustments.

Adjustments and normalized balance per allotment are affected based on adulterated abounding boilerplate shares of 427.7 actor shares for the six months concluded June 30, 2021.

Totals may not add due to rounding.

[1]

Restructuring and restructuring accompanying costs of $21 million.

[2]

Acquisition acquittal costs of $40 million.

[3]

Other accuse of $9 actor primarily accompanying to fees for assertive acknowledged proceedings; $4 actor accompanying to Argentina hyperinflationary adjustment; $2 actor accident on disposition of businesses and $2 actor of costs accompanying to completed divestitures. Includes assets tax account of $20 actor accompanying to aberration in able tax rate.

[4]

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CERTAIN LINE ITEMS

(Amounts in millions, except per allotment data)

Six Months Concluded June 30, 2020

GAAP

Restructuring

Acquisition

Transaction

Non-GAAP

Measure

and restructuring

amortization and

costs and

Measure

Reported

related costs [1]

impairment [2]

other [3]

Normalized*

Net sales

3,997

—

3,997

Cost of articles sold

2,716

(2)

—

(4)

2,710

Gross profit

1,281

—

1,287

32.0

32.2

Selling, accepted and authoritative expenses

1,036

(11)

(55)

(11)

959

25.9

24.0

Restructuring costs, net

(10)

—

Impairment of
goodwill, affluence and added assets

1,480

—

(1,480)

—

Operating assets (loss)

(1,245)

1,535

328

(31.1)

8.2

Non-operating (income) expense

145

—

(3)

143

Income (loss) afore assets taxes

(1,390)

1,535

185

Income tax accouterment (benefit) [4]

(189)

233

(28)

Net assets (loss)

(1,201)

1,302

166

Diluted balance (loss) per allotment **

(2.83)

0.04

3.06

0.11

0.39

Normalized after-effects are banking measures that are not in accordance with GAAP and exclude the aloft normalized adjustments. See beneath for a altercation of anniversary of these adjustments.

Adjustments and normalized balance per allotment are affected based on adulterated abounding boilerplate shares of 424.8 actor shares for the six months concluded June 30, 2020.

Totals may not add due to rounding.

[1]

Restructuring and restructuring accompanying costs of $22 million.

[2]

Acquisition acquittal costs of $55 million; $1.5 billion of non-cash crime accuse accompanying to goodwill, added abstract assets and operating appropriate of use assets.

[3]

Other accuse of $9 actor primarily accompanying to fees for assertive acknowledged proceedings; $3 actor accompanying to Argentina hyperinflationary adjustment; $2 actor due to a artefact recall; denial costs of $2 actor primarily accompanying to completed divestitures; $1 actor of accident due to changes in fair bazaar amount of investments and $1 actor accident on alimony settlement. Includes assets tax amount of $20 actor accompanying to change in tax cachet of assertive entities and $5 actor of furnishings of adopting the Coronavirus Aid, Relief and Economic Security (“CARES”) Act.

[4]

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

FINANCIAL WORKSHEET – SEGMENT REPORTING

(Amounts in millions)

Three Months Concluded June 30, 2021

Three Months Concluded June 30, 2020

Year over year changes

Reported

Normalized

Reported

Normalized

NormalizedOperating

Operating

Normalized

Operating

Normalized

Operating

Net Sales

Income

Net Sales

Income(Loss)

Margin

Items [1]

Income(Loss)

Margin

Net Sales

Income(Loss)

Margin

Items [2]

Income(Loss)

Margin

COMMERCIAL SOLUTIONS

493

8.7

9.5

413

9.2

10.9

19.4

4.4

HOME APPLIANCES

394

3.3

4.8

330

1.8

2.7

19.4

HOME SOLUTIONS

525

10.1

12.2

384

7.6

13.0

141

36.7

28.0

LEARNING AND DEVELOPMENT

844

217

25.7

219

25.9

631

126

20.0

129

20.4

213

33.8

69.8

OUTDOOR AND RECREATION

453

10.6

11.5

353

6.8

9.3

100

28.3

57.6

CORPORATE

—

(69)

—

(60)

—

(60)

—

(51)

—

(9)

(17.6)

2,709

305

11.3

341

12.6

2,111

163

7.7

215

10.2

598

28.3

126

58.6

[1]

The three months concluded June 30, 2021 normalized items abide of $19 actor of accretion acquittal costs; $8 actor of restructuring and restructuring-related charges; $6 actor of fees for assertive acknowledged proceedings; $2 actor of costs accompanying to completed divestitures and $1 actor accompanying to Argentina hyperinflationary adjustment.

[2]

The three months concluded June 30, 2020 normalized items abide of $24 actor of accretion acquittal costs; $17 actor of restructuring and restructuring-related charges; $5 actor of non-cash crime accuse accompanying to the operating leases of Yankee Candle retail abundance business; $3 actor of fees for assertive acknowledged proceedings; $1 actor for artefact anamnesis costs; $1 actor of transaction-related costs and $1 actor accompanying to Argentina hyperinflationary adjustment.

*NM – NOT MEANINGFUL

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

FINANCIAL WORKSHEET – SEGMENT REPORTING

(Amounts in millions)

Six Months Concluded June 30, 2021

Six Months Concluded June 30, 2020

Year over year changes

Reported

Normalized

Reported

Normalized

Normalized Operating

Operating

Normalized

Operating

Normalized

Operating

Net Sales

Income (Loss)

Net Sales

Income (Loss)

Margin

Items [1]

Income (Loss)

Margin

Net Sales

Income (Loss)

Margin

Items [2]

Income (Loss)

Margin

COMMERCIAL SOLUTIONS

964

9.6

100

10.4

826

(234)

(28.3)

330

11.6

138

16.7

4.2

HOME APPLIANCES

754

2.1

3.6

591

(293)

(49.6)

293

—

163

27.6

100.0

HOME SOLUTIONS

1,029

114

11.1

140

13.6

761

(272)

(35.7)

338

8.7

268

35.2

LEARNING AND DEVELOPMENT

1,461

327

22.4

333

22.8

1,159

130

11.2

215

18.6

302

26.1

118

54.9

O
UTDOOR AND RECREATION

789

8.0

9.1

660

(450)

(68.2)

498

7.3

129

19.5

50.0

CORPORATE

—

(116)

—

(101)

—

(126)

—

(97)

—

(4)

(4.1)

4,997

497

9.9

571

11.4

3,997

(1,245)

(31.1)

1,573

328

8.2

1,000

25.0

243

74.1

[1]

The six months concluded June 30, 2021 normalized items abide of $40 actor of accretion acquittal costs; $21 actor of restructuring and restructuring-related charges; $9 actor of fees for assertive acknowledged proceedings; $2 actor of costs accompanying to completed divestitures and $2 actor accompanying to Argentina hyperinflationary adjustment.

[2]

The six months concluded June 30, 2020 normalized items abide of $1.5 billion of crime accuse for goodwill, added abstract assets and operating appropriate of use assets; $55 actor of accretion acquittal costs; $23 actor of restructuring and restructuring-related charges; $9 actor of fees for assertive acknowledged proceedings; $2 actor for artefact anamnesis costs; $2 actor of transaction-related costs and $2 actor accompanying to Argentina hyperinflationary adjustment.

*NM – NOT MEANINGFUL

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CORE SALES GROWTH BY SEGMENT

Three Months Concluded June 30, 2021

Six Months Concluded June 30, 2021

Net Sales

(REPORTED)

Acquisitions,Divestitures andOther, Net

[2]

Currency

Impact

[3]

Core Sales

[1] [4]

Net Sales

(REPORTED)

Acquisitions,Divestitures andOther, Net

[2]

Currency

Impact

[3]

Core Sales

[1] [4]

COMMERCIAL SOLUTIONS

19.4

—

(2.8)

16.6

16.7

—

(1.9)

14.8

HOME APPLIANCES

19.4

—

(4.1)

15.3

27.6

—

(1.9)

25.7

HOME SOLUTIONS

36.7

0.5

(3.5)

33.7

35.2

1.8

(3.2)

33.8

LEARNING AND DEVELOPMENT

33.8

0.7

(2.9)

31.6

26.1

1.4

(2.4)

25.1

OUTDOOR AND RECREATION

28.3

—

(3.3)

25.0

19.5

—

(2.9)

16.6

TOTAL COMPANY

28.3

0.3

(3.2)

25.4

25.0

0.8

(2.5)

23.3

CORE SALES GROWTH BY GEOGRAPHY

Three Months Concluded June 30, 2021

Six Months Concluded June 30, 2021

Net Sales

(REPORTED)

Acquisitions,Divestitures andOther, Net

[2]

Currency

Impact

[3]

Core Sales

[1] [4]

Net Sales

(REPORTED)

Acquisitions,Divestitures andOther, Net

[2]

Currency

Impact

[3]

Core Sales

[1] [4]

NORTH AMERICA

22.3

0.4

(0.9)

21.8

19.8

1.1

(0.7)

20.2

EUROPE, MIDDLE EAST, AFRICA

42.6

—

(13.4)

29.2

36.0

—

(11.8)

24.2

LATIN AMERICA

60.8

—

(5.5)

55.3

41.6

—

4.2

45.8

ASIA PACIFIC

34.4

—

(6.0)

28.4

38.7

—

(8.0)

30.7

TOTAL COMPANY

28.3

0.3

(3.2)

25.4

25.0

0.8

(2.5)

23.3

[1]

“Core Sales” provides a connected base for year-over-year comparisons in sales as it excludes the impacts of acquisitions, completed divestitures, retail abundance openings and closings, changes in adopted currency.

[2]

Divestitures accommodate the avenue of the North American distributorship of Uniball® products, accustomed and above-mentioned aeon net sales from retail abundance closures (consistent with accepted retail practice), disposition of the foamboards business and avenue from Home Fragrance fundraising business.

[3]

“Currency Impact” represents the aftereffect of adopted bill on 2021 appear sales and is affected by applying the 2020 boilerplate account barter ante to the accustomed year bounded bill sales amounts (excluding acquisitions and divestitures) and comparing to 2021 appear sales.

[4]

Totals may not add due to rounding.

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

NET DEBT TO NORMALIZED EBITDA FROM CONTINUING OPERATIONS RECONCILIATION

(Amounts in millions)

June 30, 2021

December 31, 2020 [1]

June 30, 2020

NET DEBT RECONCILIATION:

Short-term debt and accustomed allocation of abiding debt

610

466

402

Long-term debt

4,885

5,141

5,781

Gross debt

5,495

5,607

6,183

Less: Banknote and banknote equivalents

637

981

619

NET DEBT

4,858

4,626

5,564

Income (loss) from continuing operations [2]

717

(770)

(1,064)

Normalized items [2]

244

1,530

1,706

PROFORMA NORMALIZED INCOME (LOSS) FROM CONTINUING OPERATIONS

961

760

642

Proforma normalized assets tax [2]

(10)

Interest expense, net [2]

272

274

279

Proforma normalized abrasion and acquittal [2] [3]

246

245

242

Stock-based advantage [4]

NORMALIZED EBITDA

1,579

1,310

1,217

NET DEBT TO NORMALIZED EBITDA FROM CONTINUING OPERATIONS LEVERAGE RATIO [5]

3.1

3.5

4.6

[1]

For the twelve months concluded December 31, 2020, accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the twelve months concluded December 31, 2020, on the Company’s Form 8-K furnished on February 12, 2021.

[2]

For the trailing-twelve months concluded June 30, 2021, accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the three months concluded September 30, 2020, December 31, 2020 and March 31, 2021 on the Company’s Forms 8-K furnished on October 30, 2020, February 12, 2021 and April 30, 2021, respectively. For the trailing-twelve months concluded June 30, 2020, accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the three months concluded September 30, 2019, December 31, 2019 and March 31, 2020 on the Company’s Forms 8-K furnished on October 30, 2020, February 12, 2021 and April 30, 2021, respectively.

[3]

For the trailing-twelve months concluded June 30, 2021,
Proforma normalized abrasion and acquittal excludes the afterward items: (a) accretion acquittal amount of $84 actor associated with abstract assets accustomed in acquirement accounting; (b) $17 actor of accelerated abrasion costs associated with restructuring activities. Accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the three months concluded September 30, 2020, December 31, 2020 and March 31, 2021 on the Company’s Forms 8-K furnished on October 30, 2020, February 12, 2021 and April 30, 2021, respectively. For the trailing-twelve months concluded June 30, 2020, Proforma normalized abrasion and acquittal excludes the afterward items: (a) accretion acquittal amount of $121 actor associated with abstract assets accustomed in acquirement accounting; (b) $33 actor of accelerated abrasion costs associated with restructuring activities; (c) accumulative abrasion and acquittal amount of $53 actor accompanying to the admittance of the Bartering Business in continuing operations. Accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the three months concluded September 30, 2019, December 31, 2019 and March 31, 2021 on the Company’s Forms 8-K furnished on October 30, 2020, February 12, 2021, and April 30, 2021, respectively. Proforma Normalized abrasion and acquittal excludes from GAAP abrasion and acquittal for the twelve months concluded December 31, 2020, the afterward items: (a) accretion acquittal amount of $99 actor associated with abstract assets accustomed in acquirement accounting (b) accelerated abrasion and acquittal costs of $13 actor associated with restructuring activities. Accredit to “Reconciliation of GAAP and Non-GAAP Advice (Unaudited) – Assertive Band Items” for the twelve months concluded December 31, 2020 for added information.

[4]

Represents non-cash amount associated with stock-based advantage from continuing operations.

[5]

The Net Debt to Normalized EBITDA from continuing operations arrangement is authentic as Net Debt disconnected by Normalized EBITDA from continuing operations. The Company’s debt has assertive banking covenants such as debt to disinterestedness arrangement and absorption advantage ratio; about the Net Debt to Normalized EBITDA from continuing operations advantage arrangement is acclimated by administration as a clamminess admeasurement and is not assigned in the Company’s debt covenants.

NEWELL BRANDS INC.

RECONCILIATION OF GAAP AND NON-GAAP INFORMATION (UNAUDITED)

CORE SALES OUTLOOK

Three Months Ending

September 30, 2021

Twelve Months Ending

December 31, 2021

Estimated net sales change (GAAP)

10%

Deduct: Estimated bill appulse [1] and divestitures [2], net

~ 0%

~ 1%

~ 0%

Core sales change (NON-GAAP)

10%

[1]

[2]

View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20210730005170/en/

Contacts

Investor Contact:Sofya TsinisVP, Investor Relations 1 (201) [email protected]

Media Contact:Beth StellatoVP, Corporate Communications, Contest & Philanthropy 1 (470) [email protected]

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