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Segment Information | 12 Months Ended
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Dec. 31, 2023
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 solutions 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 sales by region of the product categories. 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. ​ The following is a summary of the Company’s significant accounts and balances by segment, reconciled to its consolidated totals: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | (in millions)
Net sales | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Americas | ​ | $ | 1,428.1 | ​ | $ | 1,390.0 | ​ | $ | 1,207.2
Europe | ​ |  | 512.1 | ​ |  | 499.1 | ​ |  | 517.4
APMEA | ​ |  | 116.1 | ​ |  | 90.4 | ​ |  | 84.6
Consolidated net sales | ​ | $ | 2,056.3 | ​ | $ | 1,979.5 | ​ | $ | 1,809.2
Operating income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 325.2 | ​ | $ | 283.9 | ​ | $ | 211.0
Europe | ​ |  | 70.4 | ​ |  | 66.7 | ​ |  | 63.6
APMEA | ​ |  | 16.1 | ​ |  | 14.0 | ​ |  | 14.4
Subtotal reportable segments | ​ |  | 411.7 | ​ |  | 364.6 | ​ |  | 289.0
Corporate(*) | ​ |  | (60.8) | ​ |  | (49.6) | ​ |  | (49.4)
Consolidated operating income | ​ |  | 350.9 | ​ |  | 315.0 | ​ |  | 239.6
Interest income | ​ |  | (7.2) | ​ |  | (0.6) | ​ |  | —
Interest expense | ​ |  | 8.2 | ​ |  | 7.0 | ​ |  | 6.3
Other expense (income), net | ​ |  | 0.4 | ​ |  | 1.0 | ​ |  | (0.8)
Income before income taxes | ​ | $ | 349.5 | ​ | $ | 307.6 | ​ | $ | 234.1
Capital expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 20.8 | ​ | $ | 16.2 | ​ | $ | 17.6
Europe | ​ |  | 8.0 | ​ |  | 11.2 | ​ |  | 8.5
APMEA | ​ |  | 0.9 | ​ |  | 0.7 | ​ |  | 0.6
Consolidated capital expenditures | ​ | $ | 29.7 | ​ | $ | 28.1 | ​ | $ | 26.7
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 31.5 | ​ | $ | 27.4 | ​ | $ | 29.8
Europe | ​ |  | 9.6 | ​ |  | 10.3 | ​ |  | 12.6
APMEA | ​ |  | 2.2 | ​ |  | 2.0 | ​ |  | 2.7
Consolidated depreciation and amortization | ​ | $ | 43.3 | ​ | $ | 39.7 | ​ | $ | 45.1
Identifiable assets (at end of period) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 1,605.7 | ​ | $ | 1,222.8 | ​ | $ | 1,133.5
Europe | ​ |  | 569.1 | ​ |  | 583.5 | ​ |  | 584.8
APMEA | ​ |  | 134.6 | ​ |  | 124.6 | ​ |  | 137.3
Consolidated identifiable assets | ​ | $ | 2,309.4 | ​ | $ | 1,930.9 | ​ | $ | 1,855.6
Property, plant and equipment, net (at end of period) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Americas | ​ | $ | 174.0 | ​ | $ | 124.1 | ​ | $ | 121.3
Europe | ​ |  | 69.9 | ​ |  | 68.4 | ​ |  | 74.5
APMEA | ​ |  | 4.3 | ​ |  | 4.3 | ​ |  | 4.9
Consolidated property, plant and equipment, net | ​ | $ | 248.2 | ​ | $ | 196.8 | ​ | $ | 200.7
* 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. ​ The following includes U.S. net sales and U.S. property, plant and equipment of the Company’s Americas segment: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | (in millions)
U.S. net sales | ​ | $ | 1,324.4 | ​ | $ | 1,301.2 | ​ | $ | 1,123.9
U.S. property, plant and equipment, net (at end of year) | ​ | $ | 161.5 | ​ | $ | 119.0 | ​ | $ | 116.2
​ The following includes intersegment sales for Americas, Europe and APMEA: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | (in millions)
Intersegment Sales | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Americas | ​ | $ | 7.9 | ​ | $ | 11.1 | ​ | $ | 9.3
Europe | ​ |  | 24.7 | ​ |  | 24.7 | ​ |  | 29.1
APMEA | ​ |  | 85.2 | ​ |  | 71.4 | ​ |  | 120.5
Intersegment sales | ​ | $ | 117.8 | ​ | $ | 107.2 | ​ | $ | 158.9
​

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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