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Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 27, 2015
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
|  | Third Quarter Ended |  | Nine Months Ended |
|  | September 27, 2015 |  | September 28, 2014 |  | September 27, 2015 |  | September 28, 2014 |
|  | (in millions) |
Net sales |  |  |  |  |  |  |  |  |
Americas |  | $ | 245.0 |  | $ | 228.6 |  | $ | 745.2 |  | $ | 689.5 |
EMEA |  | 110.9 |  | 136.4 |  | 332.1 |  | 419.4 |
Asia-Pacific |  | 10.4 |  | 11.0 |  | 32.1 |  | 28.3 |
Consolidated net sales |  | $ | 366.3 |  | $ | 376.0 |  | $ | 1,109.4 |  | $ | 1,137.2 |
Operating income (loss) |  |  |  |  |  |  |  |  |
Americas |  | $ | 30.3 |  | $ | 33.4 |  | $ | 90.6 |  | $ | 85.0 |
EMEA |  | 10.9 |  | 15.1 |  | 25.7 |  | 37.1 |
Asia-Pacific |  | 1.2 |  | 1.7 |  | 0.9 |  | 4.7 |
Subtotal reportable segments |  | 42.4 |  | 50.2 |  | 117.2 |  | 126.8 |
Corporate (*) |  | (72.6 | ) | (7.5 | ) | (89.8 | ) | (21.7 | )
Consolidated operating (loss) income |  | (30.2 | ) | 42.7 |  | 27.4 |  | 105.1 |
Interest income |  | 0.3 |  | 0.1 |  | 0.7 |  | 0.4 |
Interest expense |  | (6.2 | ) | (4.8 | ) | (18.0 | ) | (14.6 | )
Other income (expense), net |  | 0.2 |  | (1.6 | ) | 0.8 |  | (1.9 | )
(Loss) Income before income taxes |  | $ | (35.9 | ) | $ | 36.4 |  | $ | 10.9 |  | $ | 89.0 |
Capital expenditures |  |  |  |  |  |  |  |  |
Americas |  | $ | 4.6 |  | $ | 2.5 |  | $ | 12.8 |  | $ | 7.4 |
EMEA |  | 1.8 |  | 2.7 |  | 5.6 |  | 7.8 |
Asia-Pacific |  | 0.3 |  | 0.3 |  | 0.8 |  | 0.9 |
Consolidated capital expenditures |  | $ | 6.7 |  | $ | 5.5 |  | $ | 19.2 |  | $ | 16.1 |
Depreciation and amortization |  |  |  |  |  |  |  |  |
Americas |  | $ | 8.0 |  | $ | 4.8 |  | $ | 22.1 |  | $ | 14.5 |
EMEA |  | 5.3 |  | 6.4 |  | 15.9 |  | 19.8 |
Asia-Pacific |  | 0.5 |  | 0.5 |  | 1.7 |  | 1.5 |
Consolidated depreciation and amortization |  | $ | 13.8 |  | $ | 11.7 |  | $ | 39.7 |  | $ | 35.8 |
Identifiable assets (at end of period) |  |  |  |  |  |  |  |  |
Americas |  |  |  |  |  | $ | 1,033.6 |  | $ | 696.7 |
EMEA |  |  |  |  |  | 744.1 |  | 840.8 |
Asia-Pacific |  |  |  |  |  | 80.6 |  | 139.2 |
Consolidated identifiable assets |  |  |  |  |  | $ | 1,858.3 |  | $ | 1,676.7 |
Property, plant and equipment, net (at end of period) |  |  |  |  |  |  |  |  |
Americas |  |  |  |  |  | $ | 86.3 |  | $ | 82.8 |
EMEA |  |  |  |  |  | 86.9 |  | 105.8 |
Asia-Pacific |  |  |  |  |  | 11.9 |  | 13.5 |
Consolidated property, plant and equipment, net |  |  |  |  |  | $ | 185.1 |  | $ | 202.1 |
* Corporate expenses are primarily for administrative compensation expense, internal controls costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs. Included in Corporate’s operating loss for the three and nine months ended September 27, 2015 is a $59.7 million charge related to the Company’s settlement of its Pension Plan and SERP benefit obligations. Refer to Note 12 Defined Benefit Plans for further discussion.
Schedule of U.S. net sales of the Company's Americas segment |
|  | Third Quarter Ended |  | Nine Months Ended |
|  | September 27, 2015 |  | September 28, 2014 |  | September 27, 2015 |  | September 28, 2014 |
|  | (in millions) |
U.S. net sales |  | $ | 227.8 |  | $ | 207.8 |  | $ | 693.6 |  | $ | 631.5 |
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific |
|  | Third Quarter Ended |  | Nine Months Ended |
|  | September 27, 2015 |  | September 28, 2014 |  | September 27, 2015 |  | September 28, 2014 |
|  | (in millions) |
Intersegment Sales |  |  |  |  |  |  |  |  |
Americas |  | $ | 2.1 |  | $ | 1.5 |  | $ | 5.8 |  | $ | 4.6 |
EMEA |  | 2.3 |  | 3.3 |  | 7.8 |  | 10.7 |
Asia-Pacific |  | 27.9 |  | 36.5 |  | 91.0 |  | 116.9 |
Intersegment sales |  | $ | 32.3 |  | $ | 41.3 |  | $ | 104.6 |  | $ | 132.2 |

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