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Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
North America |  | $ | 835.0 |  | $ | 810.9 |  | $ | 785.5 |
EMEA |  |  | 583.8 |  |  | 595.5 |  |  | 468.3 |
Asia |  |  | 26.8 |  |  | 21.7 |  |  | 20.8 |
Consolidated net sales |  | $ | 1,445.6 |  | $ | 1,428.1 |  | $ | 1,274.6 |
Operating income (loss) |  |  |  |  |  |  |  |  |  |
North America |  | $ | 96.5 |  | $ | 111.6 |  | $ | 106.4 |
EMEA |  |  | 52.6 |  |  | 28.7 |  |  | 43.7 |
Asia |  |  | 6.5 |  |  | 12.2 |  |  | (0.5 | )
Subtotal reportable segments |  |  | 155.6 |  |  | 152.5 |  |  | 149.6 |
Corporate(*) |  |  | (32.2 | ) |  | (35.8 | ) |  | (35.4 | )
Consolidated operating income |  |  | 123.4 |  |  | 116.7 |  |  | 114.2 |
Interest income |  |  | 0.7 |  |  | 1.0 |  |  | 1.0 |
Interest expense |  |  | (24.6 | ) |  | (25.8 | ) |  | (22.8 | )
Other income (expense), net |  |  | 0.8 |  |  | (0.8 | ) |  | 2.1 |
Income from continuing operations before income taxes |  | $ | 100.3 |  | $ | 91.1 |  | $ | 94.5 |
Identifiable Assets (at end of period) |  |  |  |  |  |  |  |  |  |
North America |  | $ | 810.9 |  | $ | 814.3 |  | $ | 871.8 |
EMEA |  |  | 813.8 |  |  | 773.2 |  |  | 692.8 |
Asia |  |  | 84.3 |  |  | 92.5 |  |  | 79.7 |
Discontinued operations |  |  | — |  |  | 14.0 |  |  | 1.8 |
Consolidated identifiable assets |  | $ | 1,709.0 |  | $ | 1,694.0 |  | $ | 1,646.1 |
Long-Lived Assets (at end of period) |  |  |  |  |  |  |  |  |  |
North America |  | $ | 80.6 |  | $ | 74.8 |  | $ | 77.4 |
EMEA |  |  | 128.2 |  |  | 133.3 |  |  | 104.6 |
Asia |  |  | 14.8 |  |  | 15.0 |  |  | 15.5 |
Consolidated long-lived assets |  | $ | 223.6 |  | $ | 223.1 |  | $ | 197.5 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |
North America |  | $ | 17.9 |  | $ | 8.3 |  | $ | 9.1 |
EMEA |  |  | 10.8 |  |  | 13.6 |  |  | 14.8 |
Asia |  |  | 1.9 |  |  | 0.7 |  |  | 0.7 |
Consolidated capital expenditures |  | $ | 30.6 |  | $ | 22.6 |  | $ | 24.6 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |
North America |  | $ | 19.6 |  | $ | 18.7 |  | $ | 17.9 |
EMEA |  |  | 27.7 |  |  | 30.2 |  |  | 24.9 |
Asia |  |  | 2.1 |  |  | 2.0 |  |  | 2.0 |
Consolidated depreciation and amortization |  | $ | 49.4 |  | $ | 50.9 |  | $ | 44.8 |
* Corporate expenses are primarily for administrative compensation expense, internal controls costs, professional fees, including legal and audit expenses, shareholder services and benefit administration costs. These costs are not allocated to the geographic segments as they are viewed as corporate functions that support all activities.
Schedule of U.S. net sales and U.S. long-lived assets of the Company's North America segment |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
|  | (in millions) |
U.S. net sales |  | $ | 747.4 |  | $ | 732.9 |  | $ | 712.2 |
U.S. property, plant and equipment, net (at end of period) |  | $ | 75.1 |  | $ | 69.9 |  | $ | 72.4 |
Schedule of intersegment sales for North America, EMEA and Asia |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
|  | (in millions) |
Intersegment Sales |  |  |  |  |  |  |  |  |  |
North America |  | $ | 5.3 |  | $ | 3.3 |  | $ | 3.6 |
EMEA |  |  | 10.9 |  |  | 8.4 |  |  | 7.6 |
Asia |  |  | 139.0 |  |  | 132.9 |  |  | 115.8 |
Intersegment sales |  | $ | 155.2 |  | $ | 144.6 |  | $ | 127.0 |
Schedule of net sales to third parties for the four product categories |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Residential & commercial flow control |  | $ | 785.9 |  | $ | 751.3 |  | $ | 652.2 |
HVAC & gas |  |  | 448.5 |  |  | 471.3 |  |  | 433.4 |
Drains & water re-use |  |  | 138.8 |  |  | 135.3 |  |  | 122.2 |
Water quality |  |  | 72.4 |  |  | 70.2 |  |  | 66.8 |
Consolidated net sales |  | $ | 1,445.6 |  | $ | 1,428.1 |  | $ | 1,274.6 |

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