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v3.23.2

Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Total Assets and Long-Lived Assets by Segment | The following table summarizes total assets by segment:
(in millions) | June 30, 2023 |  | December 31, 2022
North America | $ | 5,166.5 |  |  | $ | 5,161.7 |
International | 1,214.6 |  |  | 1,181.5 |
Corporate | 1,187.0 |  |  | 1,077.1 |
Inter-segment eliminations | (2,997.3) |  |  | (3,060.5) |
Total assets | $ | 4,570.8 |  |  | $ | 4,359.8 |
The following table summarizes property, plant and equipment, net, by segment:
(in millions) | June 30, 2023 |  | December 31, 2022
North America | $ | 727.2 |  |  | $ | 672.1 |
International | 92.3 |  |  | 87.3 |
Corporate | 31.4 |  |  | 31.7 |
Total property, plant and equipment, net | $ | 850.9 |  |  | $ | 791.1 |
The following table summarizes operating lease right-of-use assets by segment:
(in millions) | June 30, 2023 |  | December 31, 2022
North America | $ | 408.1 |  |  | $ | 349.0 |
International | 156.6 |  |  | 154.1 |
Corporate | 3.3 |  |  | 3.7 |
Total operating lease right-of-use assets | $ | 568.0 |  |  | $ | 506.8 |
Segment Financial Information | The following table summarizes segment information for the three months ended June 30, 2023:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 1,016.8 |  |  | $ | 252.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,269.7 |
Inter-segment sales | $ | 0.3 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | (0.7) |  |  | $ | — |
Inter-segment royalty expense (income) | 9.3 |  |  | (9.3) |  |  | — |  |  | — |  |  | — |
Gross profit | 403.4 |  |  | 138.9 |  |  | — |  |  | — |  |  | 542.3 |
Operating income (loss) | 174.1 |  |  | 33.9 |  |  | (49.2) |  |  | — |  |  | 158.8 |
Income (loss) before income taxes | 172.4 |  |  | 32.7 |  |  | (79.7) |  |  | — |  |  | 125.4 |
Depreciation and amortization (1) | $ | 24.3 |  |  | $ | 6.4 |  |  | $ | 15.3 |  |  | $ | — |  |  | $ | 46.0 |
Capital expenditures | 52.3 |  |  | 6.8 |  |  | 1.5 |  |  | — |  |  | 60.6 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended June 30, 2022:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 964.7 |  |  | $ | 246.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,211.0 |
Inter-segment sales | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | (0.9) |  |  | $ | — |
Inter-segment royalty expense (income) | 2.4 |  |  | (2.4) |  |  | — |  |  | — |  |  | — |
Gross profit | 365.8 |  |  | 130.7 |  |  | — |  |  | — |  |  | 496.5 |
Operating income (loss) | 146.1 |  |  | 35.8 |  |  | (38.0) |  |  | — |  |  | 143.9 |
Income (loss) before income taxes | 144.8 |  |  | 34.7 |  |  | (60.0) |  |  | — |  |  | 119.5 |
Depreciation and amortization (1) | $ | 23.5 |  |  | $ | 5.9 |  |  | $ | 14.6 |  |  | $ | — |  |  | $ | 44.0 |
Capital expenditures | 61.9 |  |  | 6.8 |  |  | 1.2 |  |  | — |  |  | 69.9 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2023:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 1,936.4 |  |  | $ | 541.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,477.8 |
Inter-segment sales | $ | 0.6 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | (1.0) |  |  | $ | — |
Inter-segment royalty expense (income) | 16.7 |  |  | (16.7) |  |  | — |  |  | — |  |  | — |
Gross profit | 747.4 |  |  | 294.8 |  |  | — |  |  | — |  |  | 1,042.2 |
Operating income (loss) | 310.1 |  |  | 78.1 |  |  | (86.1) |  |  | — |  |  | 302.1 |
Income (loss) from continuing operations before income taxes | 306.6 |  |  | 75.7 |  |  | (146.5) |  |  | — |  |  | 235.8 |
Depreciation and amortization (1) | $ | 49.8 |  |  | $ | 12.9 |  |  | $ | 27.9 |  |  | $ | — |  |  | $ | 90.6 |
Capital expenditures | 98.1 |  |  | 11.5 |  |  | 3.1 |  |  | — |  |  | 112.7 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2022:
(in millions) | North America |  | International |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 1,896.1 |  |  | $ | 554.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,450.5 |
Inter-segment sales | $ | 0.9 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | (1.6) |  |  | $ | — |
Inter-segment royalty expense (income) | 9.4 |  |  | (9.4) |  |  | — |  |  | — |  |  | — |
Gross profit | 718.2 |  |  | 301.1 |  |  | — |  |  | — |  |  | 1,019.3 |
Operating income (loss) | 301.5 |  |  | 102.6 |  |  | (71.6) |  |  | — |  |  | 332.5 |
Income (loss) from continuing operations before income taxes | 300.6 |  |  | 101.1 |  |  | (113.2) |  |  | — |  |  | 288.5 |
Depreciation and amortization (1) | $ | 46.2 |  |  | $ | 11.9 |  |  | $ | 30.1 |  |  | $ | — |  |  | $ | 88.2 |
Capital expenditures | 112.9 |  |  | 14.6 |  |  | 2.7 |  |  | — |  |  | 130.2 |
(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) | June 30, 2023 |  | December 31, 2022
United States | $ | 734.8 |  |  | $ | 682.0 |
All other | 116.1 |  |  | 109.1 |
Total property, plant and equipment, net | $ | 850.9 |  |  | $ | 791.1 |
The following table summarizes operating lease right-of-use assets by geographic region:
(in millions) | June 30, 2023 |  | December 31, 2022
United States | $ | 398.7 |  |  | $ | 339.6 |
United Kingdom | 123.3 |  |  | 122.9 |
All other | 46.0 |  |  | 44.3 |
Total operating lease right-of-use assets | $ | 568.0 |  |  | $ | 506.8 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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