Fiscal period ending 2025-12-31 versus 2024-12-31
— view filing on EDGAR →
Active portfolio rationalization (VMS, Flawless, Spinbrush, Waterpik showerhead divestitures) is reducing brand-reputation tail risk but simultaneously crystallizing execution, impairment, and labor risks that were previously only latent. Workforce disruption is now concrete and measurable — plant turnover at 33% against a 29.5% industry average — while regulatory exposure has materially widened across privacy, health data, and cross-border localization dimensions. The net risk picture worsens modestly, with the divestiture-driven easing insufficient to offset the operational and compliance deterioration.
2 company-specific
· 1 eased/removed
· 1 common-mode
Company-specific changes
Revised
Added specific 2025 divestitures (Flawless, Spinbrush, Waterpik showerhead, VMS business) and new impairment risk language. Concrete execution of previously disclosed risks now materialized.
We may be unable to successfully identify, finance, complete and integrate future strategic acquisitions, or successfully complete or realize the anticipated benefits of strategic divestitures. We…
Revised
Disclosure of significant involuntary workforce reductions (Waterpik, supply chain, NZ closure, VMS divestiture) and elevated plant turnover (33% vs 29.5% industry average) materially worsens labor risk.
We may not be able to attract, retain and develop key personnel. The labor market in the United States is very competitive. Our future performance depends in significant part upon the continued…
Eased / removed
Revised
VMS business divested and Flawless/Spinbrush/Waterpik showerhead exited by end 2025, reducing brand reputation risk exposure from underperforming assets.
Damage to the reputation of one or more of our leading brands could adversely affect us. Our financial success is directly dependent on the reputation and success of our brands, particularly our…
Also disclosed — common-mode (Data privacy regulation)
Data privacy regulation
Revised
Substantially expanded disclosure of regulatory complexity: 20 state privacy laws (vs. "over a dozen"), new VPPA/CIPA litigation risk, health data laws, federal preemption uncertainty with expanded private rights, Asia localization requirements, and explicit material cost/operational impact language.
We are subject to increasingly stringent privacy and data security regulation. We collect, use and store personal data of our employees, customers and other third parties in the ordinary course of…