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v3.22.2

Segment Information (Tables) | 6 Months Ended
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Jun. 26, 2022
Segment Information |
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 26, | ​ | June 27, | ​ | June 26, | ​ | June 27, | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
​ | ​ | (in millions) | ​
Net sales | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Americas | ​ | $ | 375.9 | ​ | $ | 307.1 | ​ | $ | 689.8 | ​ | $ | 579.9 | ​
Europe | ​ |  | 127.9 | ​ |  | 136.8 | ​ |  | 257.8 | ​ |  | 259.7 | ​
APMEA | ​ |  | 22.8 | ​ |  | 23.1 | ​ |  | 42.2 | ​ |  | 40.7 | ​
Consolidated net sales | ​ | $ | 526.6 | ​ | $ | 467.0 | ​ | $ | 989.8 | ​ | $ | 880.3 | ​
Operating income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 85.5 | ​ | $ | 55.2 | ​ | $ | 143.4 | ​ | $ | 103.7 | ​
Europe | ​ |  | 19.6 | ​ |  | 5.4 | ​ |  | 40.7 | ​ |  | 24.9 | ​
APMEA | ​ |  | 3.6 | ​ |  | 4.3 | ​ |  | 6.6 | ​ |  | 6.6 | ​
Subtotal reportable segments | ​ |  | 108.7 | ​ |  | 64.9 | ​ |  | 190.7 | ​ |  | 135.2 | ​
Corporate(*) | ​ |  | (12.8) | ​ |  | (12.2) | ​ |  | (23.3) | ​ |  | (22.9) | ​
Consolidated operating income | ​ |  | 95.9 | ​ |  | 52.7 | ​ |  | 167.4 | ​ |  | 112.3 | ​
Interest income | ​ |  | — | ​ |  | — | ​ |  | (0.1) | ​ |  | — | ​
Interest expense | ​ |  | 1.7 | ​ |  | 1.5 | ​ |  | 3.1 | ​ |  | 3.5 | ​
Other expense (income), net | ​ |  | — | ​ |  | (0.5) | ​ |  | 0.3 | ​ |  | (0.8) | ​
Income before income taxes | ​ | $ | 94.2 | ​ | $ | 51.7 | ​ | $ | 164.1 | ​ | $ | 109.6 | ​
Capital expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 4.3 | ​ | $ | 4.8 | ​ | $ | 7.8 | ​ | $ | 7.2 | ​
Europe | ​ |  | 2.8 | ​ |  | 2.9 | ​ |  | 4.9 | ​ |  | 5.2 | ​
APMEA | ​ |  | 0.4 | ​ |  | 0.6 | ​ |  | 0.4 | ​ |  | 0.6 | ​
Consolidated capital expenditures | ​ | $ | 7.5 | ​ | $ | 8.3 | ​ | $ | 13.1 | ​ | $ | 13.0 | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 6.7 | ​ | $ | 7.4 | ​ | $ | 13.7 | ​ | $ | 15.1 | ​
Europe | ​ |  | 2.8 | ​ |  | 3.0 | ​ |  | 5.5 | ​ |  | 6.3 | ​
APMEA | ​ |  | 0.5 | ​ |  | 1.1 | ​ |  | 1.1 | ​ |  | 1.9 | ​
Consolidated depreciation and amortization | ​ | $ | 10.0 | ​ | $ | 11.5 | ​ | $ | 20.3 | ​ | $ | 23.3 | ​
Identifiable assets (at end of period) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,223.6 | ​ | $ | 1,127.2 | ​
Europe | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 569.1 | ​ |  | 586.7 | ​
APMEA | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 141.6 | ​ |  | 141.4 | ​
Consolidated identifiable assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,934.3 | ​ | $ | 1,855.3 | ​
Property, plant and equipment, net (at end of period) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 123.6 | ​ | $ | 120.6 | ​
Europe | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 65.8 | ​ |  | 81.5 | ​
APMEA | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4.6 | ​ |  | 4.9 | ​
Consolidated property, plant and equipment, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 194.0 | ​ | $ | 207.0 | ​
* 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 of the Company's Americas segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 26, | ​ | June 27, | ​ | June 26, | ​ | June 27, | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
​ | ​ | (in millions) | ​
U.S. net sales | ​ | $ | 352.1 | ​ | $ | 285.0 | ​ | $ | 646.3 | ​ | $ | 539.4 | ​
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Second Quarter Ended | ​ | Six Months Ended | ​
​ | ​ | June 26, | ​ | June 27, | ​ | June 26, | ​ | June 27, | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
​ | ​ | (in millions) | ​
Intersegment Sales | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Americas | ​ | $ | 2.4 | ​ | $ | 2.5 | ​ | $ | 5.4 | ​ | $ | 4.9 | ​
Europe | ​ |  | 6.9 | ​ |  | 8.5 | ​ |  | 14.0 | ​ |  | 16.2 | ​
APMEA | ​ |  | 29.0 | ​ |  | 37.1 | ​ |  | 52.5 | ​ |  | 63.4 | ​
Intersegment sales | ​ | $ | 38.3 | ​ | $ | 48.1 | ​ | $ | 71.9 | ​ | $ | 84.5 | ​

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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