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Segment Reporting
 3 Months Ended
Mar. 31, 2014
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 three months ended March 31, 2014 and 2013 and assets as of March 31, 2014 and December 31, 2013 based on the Company’s reportable segments are as follows (in millions):
Three Months Ended March 31,
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/
Pacific
 
Consolidated
2014
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
647.5

 
$
353.6

 
$
1,235.9

 
$
96.4

 
$
2,333.4

Income (loss) from operations
 
55.5

 
27.9

 
120.9

 
(1.3
)
 
203.0

Depreciation
 
15.0

 
6.2

 
34.9

 
3.3

 
59.4

Capital expenditures
 
25.2

 
6.3

 
60.7

 
9.0

 
101.2

2013
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
624.2

 
$
465.7

 
$
1,193.2

 
$
120.0

 
$
2,403.1

Income from operations
 
72.1

 
48.3

 
99.7

 
5.5

 
225.6

Depreciation
 
12.0

 
6.4

 
29.5

 
2.5

 
50.4

Capital expenditures
 
14.9

 
18.0

 
53.2

 
7.9

 
94.0

Assets
 
 
 
 
 
 
 
 
 
 
As of March 31, 2014
 
$
1,131.5

 
$
915.7

 
$
2,664.3

 
$
343.0

 
$
5,054.5

As of December 31, 2013
 
1,002.8

 
773.5

 
2,368.9

 
289.5

 
4,434.7



A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):
 
 
Three Months Ended March 31,
 
 
2014
 
2013
Segment income from operations
 
$
203.0

 
$
225.6

Corporate expenses
 
(31.4
)
 
(28.3
)
Stock compensation expense
 
(5.9
)
 
(7.9
)
Amortization of intangibles
 
(10.0
)
 
(12.0
)
Consolidated income from operations
 
$
155.7

 
$
177.4


 
March 31, 2014
 
December 31, 2013
Segment assets
$
5,054.5

 
$
4,434.7

Cash and cash equivalents
193.9

 
1,047.2

Receivables from affiliates
202.2

 
124.3

Investments in affiliates
434.1

 
416.1

Deferred tax assets, other current and noncurrent assets
695.3

 
672.2

Intangible assets, net
552.5

 
565.6

Goodwill
1,187.2

 
1,178.7

Consolidated total assets
$
8,319.7

 
$
8,438.8