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Segment Information | 12 Months Ended
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Dec. 31, 2018
Segment Information |
Segment Information | (18) Segment Information The Company operates in three geographic segments: Americas, Europe, and APMEA. Each of these segments sells similar products and has separate financial results that are reviewed by the Company’s chief operating decision‑maker. Each segment earns revenue and income almost exclusively from the sale of the Company’s products. The Company sells its products into various end markets around the world with sales by region based upon location of the entity recording the sale. See Note 4 for further detail on the product lines sold into by region. All intercompany sales transactions have been eliminated. The accounting policies for each segment are the same as those described in Note 2 of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The following is a summary of the Company’s significant accounts and balances by segment, reconciled to its consolidated totals:
|  | Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
|  | (in millions)
Net Sales |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,032.1 |  | $ | 951.9 |  | $ | 900.9
Europe |  |  | 467.0 |  |  | 440.3 |  |  | 431.3
APMEA |  |  | 65.8 |  |  | 64.5 |  |  | 66.2
Consolidated net sales |  | $ | 1,564.9 |  | $ | 1,456.7 |  | $ | 1,398.4
Operating income |  |  |  |  |  |  |  |  |
Americas |  | $ | 171.1 |  | $ | 146.8 |  | $ | 127.1
Europe |  |  | 49.8 |  |  | 47.6 |  |  | 40.0
APMEA |  |  | 7.2 |  |  | 4.7 |  |  | 15.1
Subtotal reportable segments |  |  | 228.1 |  |  | 199.1 |  |  | 182.2
Corporate(*) |  |  | (39.7) |  |  | (36.8) |  |  | (37.2)
Consolidated operating income |  |  | 188.4 |  |  | 162.3 |  |  | 145.0
Interest income |  |  | (0.8) |  |  | (1.0) |  |  | (1.0)
Interest expense |  |  | 16.3 |  |  | 19.1 |  |  | 22.6
Other (income) expense, net |  |  | (1.7) |  |  | 1.1 |  |  | (4.4)
Income before income taxes |  | $ | 174.6 |  | $ | 143.1 |  | $ | 127.8
Capital Expenditures |  |  |  |  |  |  |  |  |
Americas |  | $ | 21.5 |  | $ | 20.7 |  | $ | 25.7
Europe |  |  | 12.7 |  |  | 8.0 |  |  | 8.9
APMEA |  |  | 1.7 |  |  | 0.7 |  |  | 1.4
Consolidated capital expenditures |  | $ | 35.9 |  | $ | 29.4 |  | $ | 36.0
Depreciation and Amortization |  |  |  |  |  |  |  |  |
Americas |  | $ | 29.1 |  | $ | 30.8 |  | $ | 28.8
Europe |  |  | 16.7 |  |  | 18.6 |  |  | 19.3
APMEA |  |  | 2.7 |  |  | 2.8 |  |  | 3.1
Consolidated depreciation and amortization |  | $ | 48.5 |  | $ | 52.2 |  | $ | 51.2
Identifiable assets (at end of period) |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,028.1 |  | $ | 1,069.2 |  | $ | 1,054.7
Europe |  |  | 510.2 |  |  | 524.0 |  |  | 577.3
APMEA |  |  | 115.4 |  |  | 143.3 |  |  | 131.2
Consolidated identifiable assets |  | $ | 1,653.7 |  | $ | 1,736.5 |  | $ | 1,763.2
Property, plant and equipment, net (at end of year) |  |  |  |  |  |  |  |  |
Americas |  | $ | 115.0 |  | $ | 109.3 |  | $ | 106.2
Europe |  |  | 80.0 |  |  | 82.1 |  |  | 75.6
APMEA |  |  | 6.9 |  |  | 7.1 |  |  | 7.9
Consolidated property, plant and equipment, net |  | $ | 201.9 |  | $ | 198.5 |  | $ | 189.7
* 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 APMEA’s operating income for 2016 is $8.7 million gain related to the sale of an operating subsidiary in China. Refer to Note 5 “Sale of Business” for further discussion. The following includes U.S. net sales and U.S. property, plant and equipment of the Company’s Americas segment:
|  | December 31,
|  | 2018 |  | 2017 |  | 2016
|  | (in millions)
U.S. net sales |  | $ | 964.2 |  | $ | 886.2 |  | $ | 839.2
U.S. property, plant and equipment, net (at end of year) |  | $ | 111.0 |  | $ | 105.1 |  | $ | 102.5
The following includes intersegment sales for Americas, Europe and APMEA:
|  | December 31,
|  | 2018 |  | 2017 |  | 2016
|  | (in millions)
Intersegment Sales |  |  |  |  |  |  |  |  |
Americas |  | $ | 12.7 |  | $ | 12.1 |  | $ | 12.0
Europe |  |  | 14.2 |  |  | 14.6 |  |  | 12.3
APMEA |  |  | 88.4 |  |  | 69.7 |  |  | 76.7
Intersegment sales |  | $ | 115.3 |  | $ | 96.4 |  | $ | 101.0

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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