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Segment Reporting
 12 Months Ended
Dec. 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 years ended December 31, 2014, 2013 and 2012 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
2014
 
 

 
 

 
 

 
 

 
 

Net sales
 

$2,414.2

 

$1,663.4

 

$5,158.5

 

$487.6

 

$9,723.7

Income (loss) from operations
 
219.2

 
134.0

 
500.2

 
(11.5
)
 
841.9

Depreciation
 
60.1

 
26.5

 
138.7

 
14.1

 
239.4

Assets
 
1,026.9

 
719.8

 
2,036.0

 
353.8

 
4,136.5

Capital expenditures
 
70.9

 
45.6

 
136.3

 
48.7

 
301.5

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


    
A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):
 
2014
 
2013
 
2012
Segment income from operations
$
841.9

 
$
1,097.3

 
$
906.6

Corporate expenses
(117.7
)
 
(116.2
)
 
(107.1
)
Stock compensation credit (expense)
9.7

 
(32.6
)
 
(34.6
)
Restructuring and other infrequent expenses
(46.4
)
 
—

 
—

Impairment charge
—

 
—

 
(22.4
)
Amortization of intangibles
(41.0
)
 
(47.8
)
 
(49.3
)
Consolidated income from operations
$
646.5

 
$
900.7

 
$
693.2

 
 
 
 
 
 
Segment assets
$
4,136.5

 
$
4,434.7

 
$
3,992.3

Cash and cash equivalents
363.7

 
1,047.2

 
781.3

Receivables from affiliates
108.4

 
124.3

 
41.5

Investments in affiliates
424.1

 
416.1

 
390.3

Deferred tax assets, other current and noncurrent assets
616.6

 
672.2

 
716.9

Intangible assets, net
553.8

 
565.6

 
607.1

Goodwill
1,192.8

 
1,178.7

 
1,192.4

Consolidated total assets
$
7,395.9

 
$
8,438.8

 
$
7,721.8



    
Net sales by customer location for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):
 
2014
 
2013
 
2012
Net sales:
 

 
 

 
 

United States
$
1,985.4

 
$
2,216.5

 
$
2,033.1

Canada
333.9

 
419.4

 
415.9

Germany
1,240.0

 
1,301.0

 
1,114.4

France
828.4

 
1,136.8

 
944.3

United Kingdom and Ireland
490.8

 
471.8

 
481.0

Finland and Scandinavia
808.4

 
828.5

 
790.2

Other Europe
1,376.0

 
1,422.6

 
1,421.0

South America
1,646.2

 
2,018.5

 
1,834.2

Middle East and Africa
414.9

 
320.7

 
322.9

Asia
253.6

 
293.1

 
232.4

Australia and New Zealand
234.1

 
214.8

 
216.0

Mexico, Central America and Caribbean
112.0

 
143.2

 
156.8

 
$
9,723.7

 
$
10,786.9

 
$
9,962.2



Net sales by product for the years ended December 31, 2014, 2013 and 2012 were as follows (in millions):
 
2014
 
2013
 
2012
Net sales:
 

 
 

 
 

Tractors
$
5,566.8

 
$
6,491.1

 
$
5,882.4

Replacement parts
1,390.1

 
1,349.1

 
1,286.7

Other machinery
875.3

 
1,001.0

 
963.2

Grain storage and protein production systems
851.0

 
771.9

 
728.5

Combines
581.0

 
652.8

 
638.9

Application equipment
459.5

 
521.0

 
462.5

 
$
9,723.7

 
$
10,786.9

 
$
9,962.2



Property, plant and equipment and amortizable intangible assets by country as of December 31, 2014 and 2013 was as follows (in millions):
 
2014
 
2013
United States
$
666.7

 
$
634.4

Finland
192.5

 
221.3

Germany
420.8

 
498.1

Brazil
204.1

 
218.4

Italy
101.8

 
117.6

China
138.7

 
112.3

France
83.2

 
87.3

Other
187.4

 
184.8

 
$
1,995.2

 
$
2,074.2