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Operating Segments and Geographic Area Data | 12 Months Ended
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Oct. 31, 2017
Segment Reporting [Abstract] |
Operating Segments and Geographic Area Data | Note 16 — Operating segments and geographic area data We conduct business in three primary operating segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems. The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses. Items below the operating profit line of the Consolidated Statement of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment. The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies. No single customer accounted for 10 percent or more of sales in 2017, 2016 or 2015. The following table presents information about our reportable segments:
|  | Adhesive Dispensing Systems |  |  | Advanced Technology Systems |  |  | Industrial Coating Systems |  |  | Corporate |  |  | Total |
Year ended October 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 916,019 |  |  | $ | 897,623 |  |  | $ | 253,340 |  |  | $ | — |  |  | $ | 2,066,982 |
Depreciation and amortization |  |  | 29,118 |  |  |  | 49,535 |  |  |  | 5,559 |  |  |  | 6,642 |  |  |  | 90,854 |
Operating profit (loss) |  |  | 253,580 |  | (a) |  | 228,062 |  | (b) |  | 43,991 |  |  |  | (67,931 | ) |  |  | 457,702 |
Identifiable assets (e) |  |  | 794,699 |  |  |  | 1,718,844 |  |  |  | 120,458 |  |  |  | 790,940 |  | (d) |  | 3,424,941 |
Expenditures for long-lived assets |  |  | 35,310 |  |  |  | 21,135 |  |  |  | 9,108 |  |  |  | 6,005 |  |  |  | 71,558 |
Year ended October 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 879,573 |  |  | $ | 676,329 |  |  | $ | 253,092 |  |  | $ | — |  |  | $ | 1,808,994 |
Depreciation and amortization |  |  | 28,294 |  |  |  | 29,649 |  |  |  | 5,041 |  |  |  | 7,320 |  |  |  | 70,304 |
Operating profit (loss) |  |  | 229,143 |  | (a) |  | 159,531 |  | (b) |  | 43,511 |  | (c) |  | (43,754 | ) |  |  | 388,431 |
Identifiable assets (e) |  |  | 751,153 |  |  |  | 1,080,711 |  |  |  | 140,169 |  |  |  | 463,642 |  | (d) |  | 2,435,675 |
Expenditures for long-lived assets |  |  | 17,407 |  |  |  | 18,967 |  |  |  | 17,357 |  |  |  | 7,120 |  |  |  | 60,851 |
Year ended October 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 836,066 |  |  | $ | 593,858 |  |  | $ | 258,742 |  |  | $ | — |  |  | $ | 1,688,666 |
Depreciation and amortization |  |  | 28,097 |  |  |  | 25,430 |  |  |  | 4,973 |  |  |  | 6,694 |  |  |  | 65,194 |
Operating profit (loss) |  |  | 195,902 |  | (a) |  | 120,940 |  | (b) |  | 41,458 |  | (c) |  | (40,570 | ) |  |  | 317,730 |
Identifiable assets (e) |  |  | 734,145 |  |  |  | 1,021,221 |  |  |  | 130,421 |  |  |  | 484,722 |  | (d) |  | 2,370,509 |
Expenditures for long-lived assets |  |  | 12,880 |  |  |  | 36,182 |  |  |  | 5,112 |  |  |  | 7,913 |  |  |  | 62,087 |
(a) | Includes $2,618, $7,800 and $7,972 of severance and restructuring costs in 2017, 2016 and 2015, respectively.
(b) | Includes $(180), $1,054 and $3,060 of severance and restructuring costs in 2017, 2016 and 2015, respectively.
(c) | Includes $1,921 and $379 of severance and restructuring costs in 2016 and 2015, respectively.
(d) | Corporate assets are principally cash and cash equivalents, deferred income taxes, capital leases, headquarter facilities, the major portion of our enterprise management system, and intangible assets. Amounts for the years 2015 and 2016 have been adjusted to reflect the retrospective application of our reclassification of debt issuance costs upon the adoption of a new accounting standard, as described in Note 2.
(e) | Operating segment identifiable assets include notes and accounts receivable net of customer advance payments and allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill.
We have significant sales and long-lived assets in the following geographic areas:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Net external sales |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 647,657 |  |  | $ | 531,117 |  |  | $ | 529,893 |
Americas |  |  | 147,026 |  |  |  | 124,657 |  |  |  | 129,325 |
Europe |  |  | 530,812 |  |  |  | 503,869 |  |  |  | 462,565 |
Japan |  |  | 147,189 |  |  |  | 122,054 |  |  |  | 107,797 |
Asia Pacific |  |  | 594,298 |  |  |  | 527,297 |  |  |  | 459,086 |
Total net external sales |  | $ | 2,066,982 |  |  | $ | 1,808,994 |  |  | $ | 1,688,666 |
Long-lived assets |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 216,352 |  |  | $ | 209,959 |  |  | $ | 187,212 |
Americas |  |  | 1,552 |  |  |  | 1,730 |  |  |  | 1,735 |
Europe |  |  | 98,921 |  |  |  | 23,943 |  |  |  | 21,231 |
Japan |  |  | 5,939 |  |  |  | 6,408 |  |  |  | 5,876 |
Asia Pacific |  |  | 23,647 |  |  |  | 31,089 |  |  |  | 33,886 |
Total long-lived assets |  | $ | 346,411 |  |  | $ | 273,129 |  |  | $ | 249,940 |
A reconciliation of total segment operating profit to total consolidated income before income taxes is as follows:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Total profit for reportable segments |  | $ | 457,702 |  |  | $ | 388,431 |  |  | $ | 317,730 |
Interest expense |  |  | (36,601 | ) |  |  | (21,322 | ) |  |  | (18,104 | )
Interest and investment income |  |  | 1,124 |  |  |  | 728 |  |  |  | 558 |
Other-net |  |  | (1,934 | ) |  |  | 657 |  |  |  | 678 |
Income before income taxes |  | $ | 420,291 |  |  | $ | 368,494 |  |  | $ | 300,862 |
A reconciliation of total assets for reportable segments to total consolidated assets is as follows:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Total assets for reportable segments |  | $ | 3,424,941 |  |  | $ | 2,435,675 |  |  | $ | 2,370,509 |
Customer advance payments |  |  | 34,654 |  |  |  | 26,175 |  |  |  | 22,884 |
Eliminations |  |  | (45,056 | ) |  |  | (41,267 | ) |  |  | (35,079 | )
Total consolidated assets |  | $ | 3,414,539 |  |  | $ | 2,420,583 |  |  | $ | 2,358,314 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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