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v2.4.1.9

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 926.8 |  | $ | 878.5 |  | $ | 835.0 |
EMEA |  |  | 546.4 |  |  | 562.2 |  |  | 565.6 |
Asia-Pacific |  |  | 40.5 |  |  | 32.8 |  |  | 26.8 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated net sales |  | $ | 1,513.7 |  | $ | 1,473.5 |  | $ | 1,427.4 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income (loss) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 110.3 |  | $ | 84.0 |  | $ | 90.7 |
EMEA |  |  | 37.5 |  |  | 46.9 |  |  | 52.5 |
Asia-Pacific |  |  | (6.5 | ) |  | 9.7 |  |  | 6.5 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal reportable segments |  |  | 141.3 |  |  | 140.6 |  |  | 149.7 |
Corporate(*) |  |  | (35.9 | ) |  | (29.1 | ) |  | (26.4 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated operating income |  |  | 105.4 |  |  | 111.5 |  |  | 123.3 |
Interest income |  |  | 0.7 |  |  | 0.6 |  |  | 0.7 |
Interest expense |  |  | (19.9 | ) |  | (21.5 | ) |  | (24.6 | )
Other income (expense), net |  |  | (3.1 | ) |  | (2.8 | ) |  | 0.8 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from continuing operations before income taxes |  | $ | 83.1 |  | $ | 87.8 |  | $ | 100.2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Identifiable assets (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,014.8 |  | $ | 787.9 |  | $ | 810.9 |
EMEA |  |  | 787.5 |  |  | 869.6 |  |  | 802.1 |
Asia-Pacific |  |  | 145.7 |  |  | 82.7 |  |  | 84.3 |
Discontinued operations |  |  | — |  |  | — |  |  | 11.7 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated identifiable assets |  | $ | 1,948.0 |  | $ | 1,740.2 |  | $ | 1,709.0 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property, plant and equipment, net (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 90.1 |  | $ | 85.8 |  | $ | 80.6 |
EMEA |  |  | 100.1 |  |  | 119.8 |  |  | 126.3 |
Asia-Pacific |  |  | 13.1 |  |  | 14.3 |  |  | 14.8 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated long-lived assets |  | $ | 203.3 |  | $ | 219.9 |  | $ | 221.7 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital Expenditures |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 10.9 |  | $ | 18.0 |  | $ | 17.9 |
EMEA |  |  | 11.6 |  |  | 8.5 |  |  | 10.7 |
Asia-Pacific |  |  | 1.2 |  |  | 1.2 |  |  | 1.9 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated capital expenditures |  | $ | 23.7 |  | $ | 27.7 |  | $ | 30.5 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 20.1 |  | $ | 20.5 |  | $ | 19.6 |
EMEA |  |  | 25.8 |  |  | 26.0 |  |  | 26.8 |
Asia-Pacific |  |  | 2.2 |  |  | 2.4 |  |  | 2.1 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated depreciation and amortization |  | $ | 48.1 |  | $ | 48.9 |  | $ | 48.5 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
* | Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs.
Schedule of U.S. net sales and U.S. property, plant and equipment of the Company's Americas segment |
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
U.S. net sales |  | $ | 849.0 |  | $ | 788.7 |  | $ | 747.4 |
U.S. property, plant and equipment, net (at end of year) |  | $ | 86.0 |  | $ | 81.1 |  | $ | 75.1 |
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific |
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
Intersegment Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 6.3 |  | $ | 5.4 |  | $ | 5.3 |
EMEA |  |  | 13.3 |  |  | 10.2 |  |  | 10.9 |
Asia-Pacific |  |  | 155.3 |  |  | 170.9 |  |  | 139.0 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Intersegment sales |  | $ | 174.9 |  | $ | 186.5 |  | $ | 155.2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of net sales to third parties for the four product categories |
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Residential & commercial flow control |  | $ | 930.3 |  | $ | 907.7 |  | $ | 879.2 |
HVAC & gas |  |  | 356.2 |  |  | 348.8 |  |  | 337.0 |
Drains & water re-use |  |  | 144.0 |  |  | 140.0 |  |  | 138.8 |
Water quality |  |  | 83.2 |  |  | 77.0 |  |  | 72.4 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated net sales |  | $ | 1,513.7 |  | $ | 1,473.5 |  | $ | 1,427.4 |

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