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v3.21.2

Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Total Assets and Long-Lived Assets by Segment | The following table summarizes total assets by segment:
(in millions) | September 30, 2021 |  | December 31, 2020
North America | $ | 4,258.2 |  |  | $ | 3,740.3 |
International | 1,257.8 |  |  | 639.8 |
Corporate | 860.4 |  |  | 490.3 |
Inter-segment eliminations | (1,909.1) |  |  | (1,561.8) |
Total assets | $ | 4,467.3 |  |  | $ | 3,308.6 |
The following table summarizes property, plant and equipment, net, by segment:
(in millions) | September 30, 2021 |  | December 31, 2020
North America | $ | 432.5 |  |  | $ | 415.3 |
International | 75.0 |  |  | 49.8 |
Corporate | 49.1 |  |  | 42.8 |
Total property, plant and equipment, net | $ | 556.6 |  |  | $ | 507.9 |
The following table summarizes operating lease right-of-use assets by segment:
(in millions) | September 30, 2021 |  | December 31, 2020
North America | $ | 277.9 |  |  | $ | 256.6 |
International | 185.2 |  |  | 45.7 |
Corporate | 1.4 |  |  | 2.0 |
Total operating lease right-of-use assets | $ | 464.5 |  |  | $ | 304.3 |
Segment Financial Information | The following table summarizes segment information for the three months ended September 30, 2021:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 1,120.0 |  |  | $ | 238.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,358.3 |
Inter-segment sales | $ | 0.3 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | (0.9) |  |  | $ | — |
Inter-segment royalty expense (income) | 2.1 |  |  | (2.1) |  |  | — |  |  | — |  |  | — |
Gross profit | 447.1 |  |  | 130.0 |  |  | — |  |  | — |  |  | 577.1 |
Operating income (loss) | 237.0 |  |  | 50.3 |  |  | (37.5) |  |  | — |  |  | 249.8 |
Income (loss) from continuing operations before income taxes | 235.7 |  |  | 50.0 |  |  | (49.5) |  |  | — |  |  | 236.2 |
Depreciation and amortization (1) | $ | 22.2 |  |  | $ | 4.9 |  |  | $ | 18.0 |  |  | $ | — |  |  | $ | 45.1 |
Capital expenditures | 21.3 |  |  | 4.1 |  |  | 4.1 |  |  | — |  |  | 29.5 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended September 30, 2020:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 994.7 |  |  | $ | 137.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,132.3 |
Inter-segment sales | $ | 0.2 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | (0.5) |  |  | $ | — |
Inter-segment royalty expense (income) | 3.3 |  |  | (3.3) |  |  | — |  |  | — |  |  | — |
Gross profit | 445.0 |  |  | 85.2 |  |  | — |  |  | — |  |  | 530.2 |
Operating income (loss) | 235.1 |  |  | 41.2 |  |  | (96.1) |  |  | — |  |  | 180.2 |
Income (loss) from continuing operations before income taxes | 233.7 |  |  | 40.3 |  |  | (114.3) |  |  | — |  |  | 159.7 |
Depreciation and amortization (1) | $ | 19.7 |  |  | $ | 3.5 |  |  | $ | 73.6 |  |  | $ | — |  |  | $ | 96.8 |
Capital expenditures | 20.4 |  |  | 1.8 |  |  | 2.0 |  |  | — |  |  | 24.2 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2021:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 3,017.1 |  |  | $ | 554.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,571.2 |
Inter-segment sales | $ | 1.5 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | (2.4) |  |  | $ | — |
Inter-segment royalty expense (income) | 6.5 |  |  | (6.5) |  |  | — |  |  | — |  |  | — |
Gross profit | 1,236.4 |  |  | 317.8 |  |  | — |  |  | — |  |  | 1,554.2 |
Operating income (loss) | 627.8 |  |  | 139.9 |  |  | (106.2) |  |  | — |  |  | 661.5 |
Income (loss) from continuing operations before income taxes | 625.0 |  |  | 138.9 |  |  | (170.9) |  |  | — |  |  | 593.0 |
Depreciation and amortization (1) | $ | 64.9 |  |  | $ | 12.0 |  |  | $ | 51.9 |  |  | $ | — |  |  | $ | 128.8 |
Capital expenditures | 62.4 |  |  | 8.7 |  |  | 11.0 |  |  | — |  |  | 82.1 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2020:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 2,265.6 |  |  | $ | 354.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,619.9 |
Inter-segment sales | $ | 0.7 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | (1.2) |  |  | $ | — |
Inter-segment royalty expense (income) | 6.5 |  |  | (6.5) |  |  | — |  |  | — |  |  | — |
Gross profit | 944.6 |  |  | 208.6 |  |  | — |  |  | — |  |  | 1,153.2 |
Operating income (loss) | 404.4 |  |  | 78.9 |  |  | (144.4) |  |  | — |  |  | 338.9 |
Income (loss) from continuing operations before income taxes | 400.1 |  |  | 73.6 |  |  | (197.0) |  |  | — |  |  | 276.7 |
Depreciation and amortization (1) | $ | 56.2 |  |  | $ | 9.9 |  |  | $ | 93.0 |  |  | $ | — |  |  | $ | 159.1 |
Capital expenditures | 60.3 |  |  | 6.8 |  |  | 6.5 |  |  | — |  |  | 73.6 |
(1)Depreciation and amortization includes stock-based compensation amortization expense.
Long-Lived Assets by Geographic Region | The following table summarizes property, plant and equipment, net by geographic region:
(in millions) | September 30, 2021 |  | December 31, 2020
United States | $ | 461.2 |  |  | $ | 436.2 |
All Other | 95.4 |  |  | 71.7 |
Total property, plant and equipment, net | $ | 556.6 |  |  | $ | 507.9 |
The following table summarizes operating lease right-of-use assets by geographic region:
(in millions) | September 30, 2021 |  | December 31, 2020
United States | $ | 276.4 |  |  | $ | 255.0 |
All Other | 188.1 |  |  | 49.3 |
Total operating lease right-of-use assets | $ | 464.5 |  |  | $ | 304.3 |
Net Sales by Geographic Region | The following table summarizes net sales by geographic region:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
United States | $ | 1,018.8 |  |  | $ | 904.3 |  |  | $ | 2,783.6 |  |  | $ | 2,078.8 |
All Other | 339.5 |  |  | 228.0 |  |  | 787.6 |  |  | 541.1 |
Total net sales | $ | 1,358.3 |  |  | $ | 1,132.3 |  |  | $ | 3,571.2 |  |  | $ | 2,619.9 |

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