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Segment Reporting | 12 Months Ended
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Dec. 31, 2013
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the years ended December 31, 2013, 2012 and 2011 based on the Company’s current reportable segments are as follows (in millions):
Years Ended December 31, |  | North America |  | South America |  | Europe/Africa/ Middle East |  | Asia/Pacific |  | Consolidated
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | $2,757.8 |  |  |  | $2,039.7 |  |  |  | $5,481.5 |  |  |  | $507.9 |  |  |  | $10,786.9 |
Income from operations |  | 325.9 |  |  | 212.7 |  |  | 558.2 |  |  | 0.5 |  |  | 1,097.3 |
Depreciation |  | 51.4 |  |  | 24.6 |  |  | 126.6 |  |  | 9.0 |  |  | 211.6 |
Assets |  | 1,002.8 |  |  | 773.5 |  |  | 2,368.9 |  |  | 289.5 |  |  | 4,434.7 |
Capital expenditures |  | 73.4 |  |  | 66.4 |  |  | 204.5 |  |  | 47.5 |  |  | 391.8 |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  | $2,584.4 |  |  |  | $1,855.7 |  |  |  | $5,073.7 |  |  |  | $448.4 |  |  |  | $9,962.2 |
Income from operations |  | 259.9 |  |  | 161.6 |  |  | 474.9 |  |  | 10.2 |  |  | 906.6 |
Depreciation |  | 41.5 |  |  | 22.7 |  |  | 107.0 |  |  | 9.4 |  |  | 180.6 |
Assets |  | 907.4 |  |  | 674.9 |  |  | 2,114.2 |  |  | 295.8 |  |  | 3,992.3 |
Capital expenditures |  | 64.0 |  |  | 48.3 |  |  | 211.6 |  |  | 16.6 |  |  | 340.5 |
2011 |  |  |  |  |  |  |  |  |  |
Net sales |  |  | $1,770.6 |  |  |  | $1,871.5 |  |  |  | $4,847.2 |  |  |  | $283.9 |  |  |  | $8,773.2 |
Income from operations |  | 90.9 |  |  | 143.1 |  |  | 486.9 |  |  | 23.9 |  |  | 744.8 |
Depreciation |  | 28.5 |  |  | 20.0 |  |  | 99.6 |  |  | 3.8 |  |  | 151.9 |
Assets |  | 861.4 |  |  | 585.5 |  |  | 1,967.2 |  |  | 215.7 |  |  | 3,629.8 |
Capital expenditures |  | 59.3 |  |  | 40.4 |  |  | 189.7 |  |  | 11.0 |  |  | 300.4 |
A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):
| 2013 |  | 2012 |  | 2011
Segment income from operations | $ | 1,097.3 |  |  | $ | 906.6 |  |  | $ | 744.8 |
Corporate expenses | (116.2 | ) |  | (107.1 | ) |  | (90.6 | )
Stock compensation | (32.6 | ) |  | (34.6 | ) |  | (23.0 | )
Restructuring and other infrequent income | — |  |  | — |  |  | 0.7 |
Impairment charge | — |  |  | (22.4 | ) |  | — |
Amortization of intangibles | (47.8 | ) |  | (49.3 | ) |  | (21.6 | )
Consolidated income from operations | $ | 900.7 |  |  | $ | 693.2 |  |  | $ | 610.3 |
Segment assets | $ | 4,434.7 |  |  | $ | 3,992.3 |  |  | $ | 3,629.8 |
Cash and cash equivalents | 1,047.2 |  |  | 781.3 |  |  | 724.4 |
Receivables from affiliates | 124.3 |  |  | 41.5 |  |  | 122.9 |
Investments in affiliates | 416.1 |  |  | 390.3 |  |  | 346.3 |
Deferred tax assets, other current and noncurrent assets | 672.2 |  |  | 716.9 |  |  | 572.8 |
Intangible assets, net | 565.6 |  |  | 607.1 |  |  | 666.5 |
Goodwill | 1,178.7 |  |  | 1,192.4 |  |  | 1,194.5 |
Consolidated total assets | $ | 8,438.8 |  |  | $ | 7,721.8 |  |  | $ | 7,257.2 |
Net sales by customer location for the years ended December 31, 2013, 2012 and 2011 were as follows (in millions):
| 2013 |  | 2012 |  | 2011
Net sales: |  |  |  |  |  |  |  |
United States | $ | 2,216.5 |  |  | $ | 2,033.1 |  |  | $ | 1,363.7 |
Canada | 419.4 |  |  | 415.9 |  |  | 315.6 |
Germany | 1,301.0 |  |  | 1,114.4 |  |  | 1,067.3 |
France | 1,136.8 |  |  | 944.3 |  |  | 825.1 |
United Kingdom and Ireland | 471.8 |  |  | 481.0 |  |  | 449.5 |
Finland and Scandinavia | 828.5 |  |  | 790.2 |  |  | 835.4 |
Other Europe | 1,422.6 |  |  | 1,421.0 |  |  | 1,403.2 |
South America | 2,018.5 |  |  | 1,834.2 |  |  | 1,851.0 |
Middle East and Africa | 320.7 |  |  | 322.9 |  |  | 266.7 |
Asia | 293.1 |  |  | 232.4 |  |  | 96.6 |
Australia and New Zealand | 214.8 |  |  | 216.0 |  |  | 187.3 |
Mexico, Central America and Caribbean | 143.2 |  |  | 156.8 |  |  | 111.8 |
| $ | 10,786.9 |  |  | $ | 9,962.2 |  |  | $ | 8,773.2 |
Net sales by product for the years ended December 31, 2013, 2012 and 2011 were as follows (in millions):
| 2013 |  | 2012 |  | 2011
Net sales: |  |  |  |  |  |  |  |
Tractors | $ | 6,491.1 |  |  | $ | 5,882.4 |  |  | $ | 5,779.6 |
Replacement parts | 1,349.1 |  |  | 1,286.7 |  |  | 1,275.1 |
Other machinery | 1,001.0 |  |  | 963.2 |  |  | 723.8 |
Grain storage and protein production systems | 771.9 |  |  | 728.5 |  |  | 38.7 |
Combines | 652.8 |  |  | 638.9 |  |  | 610.8 |
Application equipment | 521.0 |  |  | 462.5 |  |  | 345.2 |
| $ | 10,786.9 |  |  | $ | 9,962.2 |  |  | $ | 8,773.2 |
Property, plant and equipment and amortizable intangible assets by country as of December 31, 2013 and 2012 was as follows (in millions):
| 2013 |  | 2012
United States | $ | 634.4 |  |  | $ | 624.8 |
Finland | 221.3 |  |  | 199.5 |
Germany | 498.1 |  |  | 458.2 |
Brazil | 218.4 |  |  | 234.0 |
Italy | 117.6 |  |  | 97.4 |
China | 112.3 |  |  | 65.5 |
France | 87.3 |  |  | 70.4 |
Other | 184.8 |  |  | 171.2 |
| $ | 2,074.2 |  |  | $ | 1,921.0 |

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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 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: 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=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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