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Segment Information
 12 Months Ended
Dec. 31, 2016
Segment Information  
Segment Information

Note 2—Segment Information

 

The Company’s operations are reported in the following segments:

 

Carlisle Construction Materials (“CCM” or “Construction Materials”)—the principal products of this segment are insulation materials, rubber (EPDM), thermoplastic polyolefin (TPO), and polyvinyl chloride (PVC) roofing membranes used predominantly on non-residential low-sloped roofs, related roofing accessories, including flashings, fasteners, sealing tapes, and coatings and waterproofing products. CCM also manufactures and distributes energy-efficient rigid foam insulation panels for substantially all roofing applications. The markets served include new construction, re-roofing and maintenance of low-sloped roofs, water containment, HVAC sealants, and coatings and waterproofing.

 

Carlisle Interconnect Technologies (“CIT” or “Interconnect Technologies”)—the principal products of this segment are high-performance wire, cable, connectors, contacts, and cable assemblies for the transfer of power and data primarily for the aerospace, medical, defense electronics, test and measurement equipment, and select industrial markets.

 

Carlisle Fluid Technologies (“CFT” or “Fluid Technologies”)—the principal products of this segment are industrial liquid and powder finishing equipment and integrated system solutions for spraying, pumping, mixing, metering, and curing of a variety of coatings used in the transportation, general industrial, protective coating, wood, specialty, and auto refinishing markets.

 

Carlisle Brake & Friction (“CBF” or “Brake & Friction”)—the principal products of this segment include high-performance brakes and friction material, and clutch and transmission friction material for the construction, agriculture, mining, aerospace, and motor sports markets.

 

Carlisle FoodService Products (“CFS” or “FoodService Products”)—the principal products of this segment include commercial and institutional foodservice permanentware, table coverings, cookware, catering equipment, fiberglass and composite material trays and dishes, industrial brooms, brushes, mops, and rotary brushes for commercial and non‑commercial foodservice operators and sanitary maintenance professionals.

 

Corporate earnings before interest and income taxes (“EBIT”) includes other unallocated costs, primarily general corporate expenses. Corporate assets consist primarily of cash and cash equivalents, deferred taxes, and other invested assets.

 

The Company uses net sales and EBIT as the primary basis for the Chief Operating Decision Maker (“CODM”) to evaluate the performance of each operating segment.

 

Geographic Area Information—Net sales are based on the country to which the product was delivered. Net sales by region for the years ended December 31 are as follows (in millions):

 

 

 

 

 

 

 

 

 

 

 

Region

    

2016

    

2015

    

2014

United States

 

$
2,835.7 

 

$
2,659.4

 

$
2,441.7

International:

 

 

 

 

 

 

 

 

 

Europe

 

 
381.8 

 

 
384.4

 

 
357.4

Asia

 

 
241.9 

 

 
225.5

 

 
136.0

Canada

 

 
77.2 

 

 
114.9

 

 
117.1

Mexico and Latin America

 

 
76.1 

 

 
81.6

 

 
82.0

Middle East and Africa

 

 
42.6

 

 
55.7

 

 
48.7

Other

 

 
20.1 

 

 
21.7

 

 
21.1

Net sales

 

$
3,675.4 

 

$
3,543.2

 

$
3,204.0

 

Long‑lived assets, comprised of net property, plant, and equipment, are as follows (in millions):

 

 

 

 

 

 

 

 

Region

    

2016

    

2015

United States

 

$
495.5

 

$
461.3

International:

 

 

 

 

 

 

Europe

 

 
48.4

 

 
47.9

Asia

 

 
38.3

 

 
29.0

United Kingdom

 

 
21.3

 

 
19.2

Mexico and Latin America

 

 
28.4

 

 
27.8

Other

 

 
0.3

 

 
0.6

Total long-lived assets

 

 
$
632.2

 

 
$
585.8

 

Financial information for operations by reportable business segment is included in the following summary:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

    

Net Sales

    

EBIT

    

Assets (2)

    

Depreciation
and
Amortization

    

Capital
Spending

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carlisle Construction Materials

 

$
2,052.6

 

$
430.5

 

$
891.6

 

$
35.6

 

$
24.9

Carlisle Interconnect Technologies

 

 
834.6

 

 
144.4

 

 
1,446.3

 

 
48.8

 

 
43.9

Carlisle Fluid Technologies

 

 
269.4

 

 
33.1

 

 
640.9

 

 
20.7

 

 
11.7

Carlisle Brake & Friction

 

 
268.6

 

 
(135.7)

(3)

 
389.9

 

 
20.8

 

 
9.4

Carlisle FoodService Products

 

 
250.2

 

 
31.5

 

 
206.1

 

 
9.1

 

 
8.2

Corporate (1)

 

 

 -

 

 
(62.7)

 

 
391.0

 

 
2.8

 

 
10.7

Total

 

$
3,675.4

 

$
441.1

 

$
3,965.8

 

$
137.8

 

$
108.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carlisle Construction Materials

 

$
2,002.6

 

$
351.1

 

$
899.2

 

$
37.3

 

$
21.0

Carlisle Interconnect Technologies

 

 
784.6

 

 
141.6

 

 
1,264.0

 

 
44.3

 

 
31.6

Carlisle Fluid Technologies

 

 
203.2

 

 
20.8

 

 
659.5

 

 
15.0

 

 
1.9

Carlisle Brake & Friction

 

 
310.2

 

 
17.3

 

 
553.0

 

 
21.4

 

 
11.1

Carlisle FoodService Products

 

 
242.6

 

 
27.3

 

 
199.0

 

 
9.7

 

 
6.3

Corporate (1)

 

 

 -

 

 
(56.2)

 

 
376.2

 

 
1.6

 

 
0.2

Total

 

$
3,543.2

 

$
501.9

 

$
3,950.9

 

$
129.3

 

$
72.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carlisle Construction Materials

 

$
1,935.4

 

$
268.8

 

$
915.1

 

$
34.6

 

$
51.4

Carlisle Interconnect Technologies

 

 
669.1

 

 
132.2

 

 
1,296.3

 

 
37.6

 

 
32.2

Carlisle Fluid Technologies

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Carlisle Brake & Friction

 

 
355.3

 

 
26.8

 

 
591.3

 

 
21.9

 

 
11.2

Carlisle FoodService Products

 

 
244.2

 

 
29.6

 

 
198.4

 

 
8.8

 

 
17.5

Corporate (1)

 

 

 -

 

 
(49.1)

 

 
753.8

 

 
1.1

 

 
6.5

Total

 

$
3,204.0

 

$
408.3

 

$
3,754.9

 

$
104.0

 

$
118.8

 

 

 

(1)

Corporate EBIT includes other unallocated costs, primarily general corporate expenses. Corporate assets consist primarily of cash and cash equivalents, deferred taxes, and other invested assets.

(2)

Prior year amounts were reclassified to reflect the adoption of ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. Refer to note 1 for further discussion.

(3)

Includes impairment charges of $141.5 million. Refer to note 10 for further discussion.

 

Customer Information – Net sales to Beacon Roofing Supply, Inc. accounted for approximately 10% of the Company’s consolidated net sales during the year ended December 31, 2015.  Sales to this customer originate in the Construction Materials segment.  No other customer accounted for 10% or more of the Company’s total net sales for the periods presented.