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Segment Information | 12 Months Ended
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Dec. 31, 2012
Segment Reporting [Abstract] |
Segment Information |
O. | SEGMENT INFORMATION
The Company’s reportable segments are as follows: Cabinets and Related Products – principally includes assembled kitchen and bath cabinets; home office workstations; entertainment centers; storage products; bookcases; and kitchen utility products. Plumbing Products – principally includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; and spas. Installation and Other Services – principally includes the sale, installation and distribution of insulation and other building products. Decorative Architectural Products – principally includes paints and stains; and cabinet, door, window and other hardware. Other Specialty Products – principally includes windows, window frame components and patio doors; staple gun tackers, staples and other fastening tools. The above products and services are sold to the home improvement and new home construction markets through mass merchandisers, hardware stores, home centers, builders, distributors and other outlets for consumers and contractors. The Company’s operations are principally located in North America and Europe. The Company’s country of domicile is the United States of America. Corporate assets consist primarily of real property, equipment, cash and cash investments and other investments. The Company’s segments are based upon similarities in products and services and represent the aggregation of operating units, for which financial information is regularly evaluated by the Company’s corporate operating executives in determining resource allocation and assessing performance and is periodically reviewed by the Board of Directors. Accounting policies for the segments are the same as those for the Company. The Company primarily evaluates performance based upon operating profit (loss) and, other than general corporate expense, allocates specific corporate overhead to each segment. The evaluation of segment operating profit (loss) also excludes the charge for litigation settlements, net, and the gain on sale of fixed assets, net. Information about the Company by segment and geographic area was as follows, in millions:
|  | Net Sales (1) (2) (3) (4) (5) |  |  | Operating Profit (Loss) (5) (6) |  |  | Assets at December 31 (9) (10) |
|  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
The Company’s operations by segment were: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cabinets and Related Products |  | $ | 939 |  |  | $ | 934 |  |  | $ | 1,161 |  |  | $ | (89 | ) |  | $ | (126 | ) |  | $ | (253 | ) |  | $ | 700 |  |  | $ | 792 |  |  | $ | 843 |
Plumbing Products |  |  | 2,955 |  |  |  | 2,913 |  |  |  | 2,692 |  |  |  | 307 |  |  |  | 322 |  |  |  | 331 |  |  |  | 2,012 |  |  |  | 1,959 |  |  |  | 1,866 |
Installation and Other Services |  |  | 1,209 |  |  |  | 1,077 |  |  |  | 1,041 |  |  |  | (19 | ) |  |  | (79 | ) |  |  | (798 | ) |  |  | 1,444 |  |  |  | 1,427 |  |  |  | 1,537 |
Decorative Architectural Products |  |  | 1,818 |  |  |  | 1,670 |  |  |  | 1,693 |  |  |  | 329 |  |  |  | 196 |  |  |  | 345 |  |  |  | 799 |  |  |  | 770 |  |  |  | 851 |
Other Specialty Products |  |  | 574 |  |  |  | 576 |  |  |  | 596 |  |  |  | (31 | ) |  |  | (401 | ) |  |  | 19 |  |  |  | 704 |  |  |  | 768 |  |  |  | 1,182 |
Total |  | $ | 7,495 |  |  | $ | 7,170 |  |  | $ | 7,183 |  |  | $ | 497 |  |  | $ | (88 | ) |  | $ | (356 | ) |  | $ | 5,659 |  |  | $ | 5,716 |  |  | $ | 6,279 |
The Company’s operations by geographic area were: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 6,046 |  |  | $ | 5,669 |  |  | $ | 5,823 |  |  | $ | 360 |  |  | $ | (259 | ) |  | $ | (507 | ) |  | $ | 4,363 |  |  | $ | 4,441 |  |  | $ | 5,063 |
International, principally Europe |  |  | 1,499 |  |  |  | 1,501 |  |  |  | 1,360 |  |  |  | 137 |  |  |  | 171 |  |  |  | 151 |  |  |  | 1,296 |  |  |  | 1,275 |  |  |  | 1,216 |
Total, as above |  | $ | 7,495 |  |  | $ | 7,170 |  |  | $ | 7,183 |  |  |  | 497 |  |  |  | (88 | ) |  |  | (356 | ) |  |  | 5,659 |  |  |  | 5,716 |  |  |  | 6,279 |
General corporate expense, net (7) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (126 | ) |  |  | (118 | ) |  |  | (110 | ) |  |  |  |  |  |  |  |  |  |  |  |
Charge for litigation settlements, net (8) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (77 | ) |  |  | (9 | ) |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Gain from sales of fixed assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Operating profit (loss), as reported |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 302 |  |  |  | (215 | ) |  |  | (466 | ) |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (229 | ) |  |  | (177 | ) |  |  | (279 | ) |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 73 |  |  | $ | (392 | ) |  | $ | (745 | ) |  |  |  |  |  |  |  |  |  |  |  |
Corporate assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,013 |  |  |  | 1,339 |  |  |  | 1,596 |
Assets held for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 203 |  |  |  | 242 |  |  |  | 265 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,875 |  |  | $ | 7,297 |  |  | $ | 8,140 |
|  | Property Additions (5) |  |  | Depreciation and Amortization (5) |
|  | 2012 |  |  | 2011 |  |  | 2010 |  |  | 2012 |  |  | 2011 |  |  | 2010 |
The Company’s operations by segment were: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cabinets and Related Products |  | $ | 15 |  |  | $ | 14 |  |  | $ | 32 |  |  | $ | 57 |  |  | $ | 66 |  |  | $ | 101 |
Plumbing Products |  |  | 67 |  |  |  | 85 |  |  |  | 65 |  |  |  | 69 |  |  |  | 68 |  |  |  | 63 |
Installation and Other Services |  |  | 11 |  |  |  | 9 |  |  |  | 6 |  |  |  | 30 |  |  |  | 32 |  |  |  | 33 |
Decorative Architectural Products |  |  | 11 |  |  |  | 8 |  |  |  | 9 |  |  |  | 15 |  |  |  | 15 |  |  |  | 18 |
Other Specialty Products |  |  | 11 |  |  |  | 17 |  |  |  | 18 |  |  |  | 21 |  |  |  | 48 |  |  |  | 26 |
|  |  | 115 |  |  |  | 133 |  |  |  | 130 |  |  |  | 192 |  |  |  | 229 |  |  |  | 241 |
Unallocated amounts, principally related to corporate assets |  |  | 2 |  |  |  | 6 |  |  |  | 4 |  |  |  | 11 |  |  |  | 16 |  |  |  | 20 |
Total |  | $ | 117 |  |  | $ | 139 |  |  | $ | 134 |  |  | $ | 203 |  |  | $ | 245 |  |  | $ | 261 |
(1) | Included in net sales were export sales from the U.S. of $229 million, $241 million and $246 million in 2012, 2011 and 2010, respectively.
(2) | Excluded from net sales were intra-company sales between segments of approximately two percent of net sales in each of 2012, 2011 and 2010.
(3) | Included in net sales were sales to one customer of $2,143 million, $1,984 million and $1,993 million in 2012, 2011 and 2010, respectively. Such net sales were included in the following segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products.
(4) | Net sales from the Company’s operations in the U.S. were $5,793 million, $5,394 million and $5,618 million in 2012, 2011 and 2010, respectively.
(5) | Net sales, operating (loss) profit, property additions and depreciation and amortization expense for 2012, 2011 and 2010 excluded the results of businesses reported as discontinued operations in 2012, 2011 and 2010.
(6) | Included in segment operating profit (loss) for 2012 was an impairment charge for other intangible assets as follows: Other Specialty Products—$42 million. Included in segment operating (loss) profit for 2011 were impairment charges for goodwill and other intangible assets as follows: Plumbing Products—$1 million; Decorative Architectural Products—$75 million; and Other Specialty Products—$374 million. Included in segment operating (loss) profit for 2010 were impairment charges for goodwill and other intangible assets as follows: Plumbing Products—$1 million; and Installation and Other Services—$697 million.
(7) | General corporate expense, net included those expenses not specifically attributable to the Company’s segments.
(8) | The charge for litigation settlement, net in 2012 primarily relates to a business in the Installation and Other Services segment and in 2011 relates to business units in the Cabinets and Related Products and the Other Specialty Products segments.
(9) | Long-lived assets of the Company’s operations in the U.S. and Europe were $2,792 million and $465 million, $2,962 million and $455 million, and $3,681 million and $457 million at December 31, 2012, 2011 and 2010, respectively.
(10) | Segment assets for 2012 and 2011 excluded the assets of businesses reported as discontinued operations in the respective years.

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- 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 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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