XML 49 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Information | 6 Months Ended
--- | ---
Jun. 29, 2018
Text Block [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Operating segments are defined as components of an enterprise that engage in business activities for which separate financial information is available and evaluated by the Company's Chief Executive Officer (our chief operating decision maker or "CODM") in deciding how to allocate resources and assess performance. The CODM evaluates each segment’s performance and allocates resources based on segment operating income before income taxes and corporate allocations. The Company and each of its segments employ consistent accounting policies. In each of its segments, the Company sells many individual products. For this reason it is impracticable to segregate and identify revenue for each of the individual products or group of products. Stock-based compensation is shown in the aggregate within unallocated corporate expense and is not reflected in the segment results, which is consistent with the way the CODM evaluates each segment's performance and allocates resources. The Company’s reportable segments are described below:
• | Buildings and Infrastructure: This segment primarily serves customers working in architecture, engineering, construction and operations and maintenance.
• | Geospatial: This segment primarily serves customers working in surveying, engineering, government and land management.
• | Resources and Utilities: This segment primarily serves customers working in agriculture, forestry and utilities.
• | Transportation: This segment primarily serves customers working in long haul trucking, field service management, rail and military aviation.
The following tables present revenue, operating income, depreciation expense and identifiable assets for the four reportable segments. Operating income is revenue less cost of sales and operating expense, excluding unallocated corporate expenses, restructuring charges, amortization of purchased intangible assets, stock-based compensation, amortization of acquisition-related inventory step-up and acquisition and divestiture items. The identifiable assets that the CODM views by segment are accounts receivable, inventories and goodwill.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
Second Quarter of Fiscal 2018 |  |  |  |  |  |  |  |  |
Revenue | $ | 274.3 |  |  | $ | 184.4 |  |  | $ | 145.0 |  |  | $ | 181.8 |  |  | $ | 785.5 |
Operating income | 67.4 |  |  | 41.6 |  |  | 42.3 |  |  | 31.1 |  |  | 182.4 |
Depreciation expense | 1.4 |  |  | 1.5 |  |  | 1.0 |  |  | 1.2 |  |  | 5.1 |
Second Quarter of Fiscal 2017 |  |  |  |  |  |  |  |  |
Revenue (*As Adjusted) | $ | 220.6 |  |  | $ | 164.6 |  |  | $ | 111.6 |  |  | $ | 163.1 |  |  | $ | 659.9 |
Operating income (*As Adjusted) | 47.8 |  |  | 29.8 |  |  | 35.0 |  |  | 25.4 |  |  | 138.0 |
Depreciation expense | 1.5 |  |  | 1.5 |  |  | 0.6 |  |  | 1.4 |  |  | 5.0 |
First Two Quarters of Fiscal 2018 |  |  |  |  |  |  |  |  |
Revenue | $ | 499.0 |  |  | $ | 358.9 |  |  | $ | 304.2 |  |  | $ | 365.6 |  |  | $ | 1,527.7 |
Operating income | 110.9 |  |  | 78.9 |  |  | 94.0 |  |  | 61.5 |  |  | 345.3 |
Depreciation expense | 2.8 |  |  | 2.9 |  |  | 2.0 |  |  | 2.3 |  |  | 10.0 |
First Two Quarters of Fiscal 2017 |  |  |  |  |  |  |  |  |
Revenue (*As Adjusted) | $ | 407.1 |  |  | $ | 314.2 |  |  | $ | 231.8 |  |  | $ | 317.4 |  |  | $ | 1,270.5 |
Operating income (*As Adjusted) | 79.5 |  |  | 57.7 |  |  | 77.6 |  |  | 48.9 |  |  | 263.7 |
Depreciation expense | 3.3 |  |  | 2.8 |  |  | 1.2 |  |  | 2.8 |  |  | 10.1 |
As of the Second Quarter of Fiscal 2018 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 150.0 |  |  | $ | 113.0 |  |  | $ | 75.3 |  |  | $ | 107.9 |  |  | $ | 446.2 |
Inventories | 64.6 |  |  | 127.2 |  |  | 44.7 |  |  | 45.9 |  |  | 282.4 |
Goodwill | 1,119.7 |  |  | 406.1 |  |  | 309.1 |  |  | 847.2 |  |  | 2,682.1 |
As of Fiscal Year End 2017 |  |  |  |  |  |  |  |  |
Accounts receivable, net (*As Adjusted) | $ | 120.1 |  |  | $ | 121.5 |  |  | $ | 78.5 |  |  | $ | 107.6 |  |  | $ | 427.7 |
Inventories (*As Adjusted) | 62.1 |  |  | 110.3 |  |  | 46.0 |  |  | 46.2 |  |  | 264.6 |
Goodwill | 706.8 |  |  | 415.3 |  |  | 314.5 |  |  | 850.5 |  |  | 2,287.1 |
* See Note 2 for a summary of adjustments A reconciliation of the Company’s consolidated segment operating income to consolidated income before income taxes is as follows:
| Second Quarter of |  | First Two Quarters of
| 2018 |  | 2017 |  | 2018 |  | 2017
|  |  | *As Adjusted |  |  |  | *As Adjusted
(In millions) |  |  |  |  |  |  |
Consolidated segment operating income | $ | 182.4 |  |  | $ | 138.0 |  |  | $ | 345.3 |  |  | $ | 263.7 |
Unallocated corporate expense | (22.5 | ) |  | (20.4 | ) |  | (45.9 | ) |  | (38.8 | )
Restructuring charges | (2.8 | ) |  | (2.8 | ) |  | (4.2 | ) |  | (6.2 | )
Amortization of purchased intangible assets | (42.6 | ) |  | (35.8 | ) |  | (83.1 | ) |  | (69.1 | )
Stock-based compensation | (16.9 | ) |  | (15.2 | ) |  | (34.3 | ) |  | (28.9 | )
Amortization of acquisition-related inventory step-up | — |  |  | (0.5 | ) |  | — |  |  | (0.6 | )
Acquisition and divestiture items | (8.1 | ) |  | (4.3 | ) |  | (24.1 | ) |  | (6.4 | )
Consolidated operating income | 89.5 |  |  | 59.0 |  |  | 153.7 |  |  | 113.7 |
Non-operating income (expense), net: | (10.3 | ) |  | 5.0 |  |  | (7.8 | ) |  | 14.0 |
Consolidated income before taxes | $ | 79.2 |  |  | $ | 64.0 |  |  | $ | 145.9 |  |  | $ | 127.7 |
* See Note 2 for a summary of adjustments The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers is attributed to countries based on the location of the customer.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
Second Quarter of Fiscal 2018 |  |  |  |  |  |  |  |  |
North America | $ | 146.2 |  |  | $ | 70.2 |  |  | $ | 48.4 |  |  | $ | 147.0 |  |  | $ | 411.8 |
Europe | 83.6 |  |  | 56.2 |  |  | 61.8 |  |  | 21.2 |  |  | 222.8 |
Asia Pacific | 37.4 |  |  | 45.0 |  |  | 12.3 |  |  | 12.7 |  |  | 107.4 |
Rest of World | 7.1 |  |  | 13.0 |  |  | 22.5 |  |  | 0.9 |  |  | 43.5 |
Total consolidated revenue | 274.3 |  |  | 184.4 |  |  | 145.0 |  |  | 181.8 |  |  | 785.5 |
Second Quarter of Fiscal 2017 (*As Adjusted) |  |  |  |  |  |  |  |  |
North America | $ | 117.9 |  |  | $ | 64.3 |  |  | $ | 45.6 |  |  | $ | 136.6 |  |  | $ | 364.4 |
Europe | 62.7 |  |  | 45.9 |  |  | 37.1 |  |  | 17.1 |  |  | 162.8 |
Asia Pacific | 31.2 |  |  | 39.6 |  |  | 11.0 |  |  | 8.3 |  |  | 90.1 |
Rest of World | 8.8 |  |  | 14.8 |  |  | 17.9 |  |  | 1.1 |  |  | 42.6 |
Total consolidated revenue | 220.6 |  |  | 164.6 |  |  | 111.6 |  |  | 163.1 |  |  | 659.9 |
First Two Quarters of Fiscal 2018 |  |  |  |  |  |  |  |  |
North America | 259.5 |  |  | 139.6 |  |  | 96.8 |  |  | 298.2 |  |  | 794.1 |
Europe | 159.2 |  |  | 105.8 |  |  | 141.7 |  |  | 42.5 |  |  | 449.2 |
Asia Pacific | 66.6 |  |  | 88.3 |  |  | 23.6 |  |  | 23.5 |  |  | 202.0 |
Rest of World | 13.7 |  |  | 25.2 |  |  | 42.1 |  |  | 1.4 |  |  | 82.4 |
Total consolidated revenue | 499.0 |  |  | 358.9 |  |  | 304.2 |  |  | 365.6 |  |  | 1,527.7 |
First Two Quarters of Fiscal 2017 (*As Adjusted) |  |  |  |  |  |  |  |  |
North America | 214.6 |  |  | 119.5 |  |  | 87.7 |  |  | 264.3 |  |  | 686.1 |
Europe | 120.2 |  |  | 87.4 |  |  | 86.3 |  |  | 33.3 |  |  | 327.2 |
Asia Pacific | 54.8 |  |  | 80.0 |  |  | 22.3 |  |  | 17.5 |  |  | 174.6 |
Rest of World | 17.5 |  |  | 27.3 |  |  | 35.5 |  |  | 2.3 |  |  | 82.6 |
Total consolidated revenue | 407.1 |  |  | 314.2 |  |  | 231.8 |  |  | 317.4 |  |  | 1,270.5 |
* Adjusted to reflect adoption of the new revenue recognition standard, Revenue from Contracts with Customers. For further information, see Note 2.

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration