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Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
|  | Year Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 951.9 |  | $ | 900.9 |  | $ | 978.5 |
Europe |  |  | 440.3 |  |  | 431.3 |  |  | 436.0 |
APMEA |  |  | 64.5 |  |  | 66.2 |  |  | 53.2 |
Consolidated net sales |  | $ | 1,456.7 |  | $ | 1,398.4 |  | $ | 1,467.7 |
Operating income (loss) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 146.8 |  | $ | 127.1 |  | $ | 109.9 |
Europe(**) |  |  | 47.6 |  |  | 40.0 |  |  | (99.6) |
APMEA(***) |  |  | 4.7 |  |  | 15.1 |  |  | 0.5 |
Subtotal reportable segments |  |  | 199.1 |  |  | 182.2 |  |  | 10.8 |
Corporate(*) |  |  | (36.8) |  |  | (37.2) |  |  | (100.9) |
Consolidated operating income (loss) |  |  | 162.3 |  |  | 145.0 |  |  | (90.1) |
Interest income |  |  | (1.0) |  |  | (1.0) |  |  | (1.0) |
Interest expense |  |  | 19.1 |  |  | 22.6 |  |  | 24.3 |
Other expense (income), net |  |  | 1.1 |  |  | (4.4) |  |  | (2.4) |
Income (loss) before income taxes |  | $ | 143.1 |  | $ | 127.8 |  | $ | (111.0) |
Capital Expenditures |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 20.7 |  | $ | 25.7 |  | $ | 19.0 |
Europe |  |  | 8.0 |  |  | 8.9 |  |  | 7.5 |
APMEA |  |  | 0.7 |  |  | 1.4 |  |  | 1.2 |
Consolidated capital expenditures |  | $ | 29.4 |  | $ | 36.0 |  | $ | 27.7 |
Depreciation and Amortization |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 30.8 |  | $ | 28.8 |  | $ | 29.0 |
Europe |  |  | 18.6 |  |  | 19.3 |  |  | 21.0 |
APMEA |  |  | 2.8 |  |  | 3.1 |  |  | 2.4 |
Consolidated depreciation and amortization |  | $ | 52.2 |  | $ | 51.2 |  | $ | 52.4 |
Identifiable assets (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,069.2 |  | $ | 1,054.7 |  | $ | 969.6 |
Europe |  |  | 524.0 |  |  | 577.3 |  |  | 602.2 |
APMEA |  |  | 143.3 |  |  | 131.2 |  |  | 119.0 |
Consolidated identifiable assets |  | $ | 1,736.5 |  | $ | 1,763.2 |  | $ | 1,690.8 |
Property, plant and equipment, net (at end of period) |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 109.3 |  | $ | 106.2 |  | $ | 88.6 |
Europe |  |  | 82.1 |  |  | 75.6 |  |  | 82.2 |
APMEA |  |  | 7.1 |  |  | 7.9 |  |  | 13.6 |
Consolidated property, plant and equipment, net |  | $ | 198.5 |  | $ | 189.7 |  | $ | 184.4 |
* 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. Included in Corporate’s operating loss for 2015 is a $59.7 million charge related to the Company’s settlement of its Pension Plan and SERP benefit obligations. Refer to Note 14 “Employee Benefit Plans” for further discussion. ** Included in Europe’s operating loss for 2015 is a $129.7 million charge related to goodwill impairment of the Europe reporting unit. Refer to Note 6 “Goodwill and Intangibles” for further discussion. *** Included in APMEA’s operating income for 2016 is $8.7 million gain related to the sale of an operating subsidiary in China. Refer to Note 4 “Sale of Business” for further discussion.
Schedule of U.S. net sales of the Company's Americas segment |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in millions) |
U.S. net sales |  | $ | 886.2 |  | $ | 839.2 |  | $ | 909.2 |
U.S. property, plant and equipment, net (at end of year) |  | $ | 105.1 |  | $ | 102.5 |  | $ | 85.2 |
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific |
|  | December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in millions) |
Intersegment Sales |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 12.1 |  | $ | 12.0 |  | $ | 8.2 |
Europe |  |  | 14.6 |  |  | 12.3 |  |  | 10.5 |
APMEA |  |  | 69.7 |  |  | 76.7 |  |  | 110.0 |
Intersegment sales |  | $ | 96.4 |  | $ | 101.0 |  | $ | 128.7 |
Schedule of net sales to third parties for the four product categories |
|  | Year Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in millions) |
Net Sales |  |  |  |  |  |  |  |  |  |
Residential & commercial flow control |  | $ | 758.9 |  | $ | 779.2 |  | $ | 831.1 |
HVAC & gas |  |  | 472.4 |  |  | 408.1 |  |  | 425.1 |
Drains & water re-use |  |  | 145.4 |  |  | 132.3 |  |  | 131.0 |
Water quality |  |  | 80.0 |  |  | 78.8 |  |  | 80.5 |
Consolidated net sales |  | $ | 1,456.7 |  | $ | 1,398.4 |  | $ | 1,467.7 |

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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 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 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=68060357&loc=d3e8813-108599 Reference 3: 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=68060357&loc=d3e8721-108599 Reference 4: 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=35741047&loc=d3e13816-109267 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=68060357&loc=d3e8736-108599 + Details
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