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Reportable Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting, Measurement Disclosures [Abstract] |
Summary of segment description |
| As of June 30, 2019 |  | As of December 31, 2018
Total Assets: |  |  |
Residential Heating & Cooling | $ | 1,269.0 |  |  | $ | 837.4 |
Commercial Heating & Cooling | 436.0 |  |  | 349.5 |
Refrigeration | 412.6 |  |  | 462.9 |
Corporate and other | 222.8 |  |  | 167.4 |
Total assets | $ | 2,340.4 |  |  | $ | 1,817.2 |
The following table describes each segment:
Segment |  | Product or Services |  | Markets Served |  | Geographic Areas
Residential Heating & Cooling |  | Furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts |  | Residential Replacement; Residential New Construction |  | United States Canada
Commercial Heating & Cooling |  | Unitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment |  | Light Commercial |  | United States Canada Central America South America
Refrigeration |  | Condensing units, unit coolers, fluid coolers, air cooled condensers, air handlers, process chillers, controls, compressorized racks, supermarket display cases and systems |  | Light Commercial; Food Preservation; Non-Food/Industrial |  | United States Canada Europe(1) Asia Pacific(2) South America(2) Central America
(1)Effective January 1, 2019, we realigned our segment structure. We shifted financial reporting of the European Commercial HVAC business from our Commercial Heating & Cooling segment to our Refrigeration segment as we manage both our commercial HVAC and refrigeration operations in Europe together. We have revised our historical segment results to present them on a comparable basis. (2)Our businesses in the Asia Pacific and South America area were sold in the second and third quarters of 2018, respectively. Refer to Note 14 for details regarding the divestiture of these businesses.
Net sales and segment profit (loss) and reconciliation of segment profit (loss) to income from continuing operations before income taxes | Net sales and segment profit (loss) for each segment, along with a reconciliation of segment profit (loss) to Operating income, are shown below (in millions):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Net sales |  |  |  |  |  |  |
Residential Heating & Cooling | $ | 689.1 |  |  | $ | 716.0 |  |  | $ | 1,154.6 |  |  | $ | 1,169.7 |
Commercial Heating & Cooling | 261.3 |  |  | 252.1 |  |  | 434.7 |  |  | 431.2 |
Refrigeration | 148.7 |  |  | 207.3 |  |  | 300.1 |  |  | 409.3 |
| $ | 1,099.1 |  |  | $ | 1,175.4 |  |  | $ | 1,889.4 |  |  | $ | 2,010.2 |
Segment profit (loss) (1) |  |  |  |  |  |  |
Residential Heating & Cooling | $ | 153.4 |  |  | $ | 153.6 |  |  | $ | 240.1 |  |  | $ | 204.9 |
Commercial Heating & Cooling | 53.9 |  |  | 50.8 |  |  | 68.9 |  |  | 72.8 |
Refrigeration | 19.1 |  |  | 23.4 |  |  | 27.5 |  |  | 32.1 |
Corporate and other | (24.1 | ) |  | (22.5 | ) |  | (36.2 | ) |  | (33.7 | )
Total segment profit | 202.3 |  |  | 205.3 |  |  | 300.3 |  |  | 276.1 |
Reconciliation to Operating income: |  |  |  |  |  |  |
Special inventory write down | — |  |  | — |  |  | — |  |  | 0.2 |
Special product quality adjustment | (0.5 | ) |  | — |  |  | (0.5 | ) |  | — |
Loss (gain) on sale of businesses and related property | 0.4 |  |  | (22.1 | ) |  | 8.8 |  |  | (11.8 | )
Loss on assets held for sale | — |  |  | 31.4 |  |  | — |  |  | 31.4 |
Partial advance of insurance recoveries related to lost profits | (8.0 | ) |  | — |  |  | (8.0 | ) |  | — |
Gain from insurance recoveries, net of losses incurred | (5.9 | ) |  | — |  |  | (12.8 | ) |  | — |
Items in losses (gains) and other expenses, net that are excluded from segment profit (loss) (1) | 2.6 |  |  | 0.4 |  |  | 3.9 |  |  | 6.9 |
Restructuring charges | (0.1 | ) |  | 0.5 |  |  | 0.4 |  |  | 1.3 |
Operating income | $ | 213.8 |  |  | $ | 195.1 |  |  | $ | 308.5 |  |  | $ | 248.1 |
(1) We define segment profit (loss) as a segment's operating income included in the accompanying Consolidated Statements of Operations, excluding:

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