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v2.4.0.8

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2013
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 878.5 |  | $ | 835.0 |  | $ | 810.9 |
EMEA |  |  | 562.2 |  |  | 565.6 |  |  | 574.8 |
Asia Pacific |  |  | 32.8 |  |  | 26.8 |  |  | 21.7 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated net sales |  | $ | 1,473.5 |  | $ | 1,427.4 |  | $ | 1,407.4 |
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Operating income (loss) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 90.4 |  | $ | 96.5 |  | $ | 111.6 |
EMEA |  |  | 46.9 |  |  | 52.5 |  |  | 45.5 |
Asia Pacific |  |  | 9.7 |  |  | 6.5 |  |  | 12.2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal reportable segments |  |  | 147.0 |  |  | 155.5 |  |  | 169.3 |
Corporate(*) |  |  | (35.5 | ) |  | (32.2 | ) |  | (35.8 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated operating income |  |  | 111.5 |  |  | 123.3 |  |  | 133.5 |
Interest income |  |  | 0.6 |  |  | 0.7 |  |  | 1.0 |
Interest expense |  |  | (21.5 | ) |  | (24.6 | ) |  | (25.8 | )
Other income (expense), net |  |  | (2.8 | ) |  | 0.8 |  |  | (0.8 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from continuing operations before income taxes |  | $ | 87.8 |  | $ | 100.2 |  | $ | 107.9 |
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Identifiable assets (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 787.9 |  | $ | 810.9 |  | $ | 814.3 |
EMEA |  |  | 869.6 |  |  | 802.1 |  |  | 759.8 |
Asia Pacific |  |  | 82.7 |  |  | 84.3 |  |  | 92.5 |
Discontinued operations |  |  | — |  |  | 11.7 |  |  | 27.4 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated identifiable assets |  | $ | 1,740.2 |  | $ | 1,709.0 |  | $ | 1,694.0 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Property, plant and equipment, net (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 85.8 |  | $ | 80.6 |  | $ | 74.8 |
EMEA |  |  | 119.8 |  |  | 126.3 |  |  | 130.6 |
Asia Pacific |  |  | 14.3 |  |  | 14.8 |  |  | 15.0 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated long-lived assets |  | $ | 219.9 |  | $ | 221.7 |  | $ | 220.4 |
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Capital Expenditures |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 18.0 |  | $ | 17.9 |  | $ | 8.3 |
EMEA |  |  | 8.5 |  |  | 10.7 |  |  | 13.5 |
Asia Pacific |  |  | 1.2 |  |  | 1.9 |  |  | 0.7 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated capital expenditures |  | $ | 27.7 |  | $ | 30.5 |  | $ | 22.5 |
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Depreciation and Amortization |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 20.5 |  | $ | 19.6 |  | $ | 18.7 |
EMEA |  |  | 26.0 |  |  | 26.8 |  |  | 27.2 |
Asia Pacific |  |  | 2.4 |  |  | 2.1 |  |  | 2.0 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated depreciation and amortization |  | $ | 48.9 |  | $ | 48.5 |  | $ | 47.9 |
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* 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. property, plant and equipment of the Company's Americas segment |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
|  | (in millions) |
U.S. net sales |  | $ | 788.7 |  | $ | 747.4 |  | $ | 732.9 |
U.S. property, plant and equipment, net (at end of period) |  | $ | 81.1 |  | $ | 75.1 |  | $ | 69.9 |
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
|  | (in millions) |
Intersegment Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 5.4 |  | $ | 5.3 |  | $ | 3.3 |
EMEA |  |  | 10.2 |  |  | 10.9 |  |  | 8.4 |
Asia Pacific |  |  | 170.9 |  |  | 139.0 |  |  | 132.9 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Intersegment sales |  | $ | 186.5 |  | $ | 155.2 |  | $ | 144.6 |
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Schedule of net sales to third parties for the four product categories |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Residential & commercial flow control |  | $ | 907.7 |  | $ | 879.2 |  | $ | 854.9 |
HVAC & gas |  |  | 348.8 |  |  | 337.0 |  |  | 347.0 |
Drains & water re-use |  |  | 140.0 |  |  | 138.8 |  |  | 135.3 |
Water quality |  |  | 77.0 |  |  | 72.4 |  |  | 70.2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated net sales |  | $ | 1,473.5 |  | $ | 1,427.4 |  | $ | 1,407.4 |
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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: 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 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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