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Segment Reporting
 6 Months Ended
Jun. 30, 2015
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 and six months ended June 30, 2015 and 2014 and assets as of June 30, 2015 and December 31, 2014 based on the Company’s reportable segments are as follows (in millions):
Three Months Ended June 30,
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/
Pacific
 
Consolidated
2015
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
563.1

 
$
280.3

 
$
1,137.0

 
$
88.9

 
$
2,069.3

Income (loss) from operations
 
58.0

 
15.2

 
134.6

 
(10.9
)
 
196.9

Depreciation
 
15.2

 
5.5

 
30.6

 
2.8

 
54.1

Capital expenditures
 
9.0

 
3.1

 
17.4

 
8.9

 
38.4

2014
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
686.2

 
$
440.2

 
$
1,521.9

 
$
102.0

 
$
2,750.3

Income (loss) from operations
 
95.5

 
29.9

 
188.1

 
(3.3
)
 
310.2

Depreciation
 
14.4

 
6.6

 
35.3

 
3.6

 
59.9

Capital expenditures
 
11.5

 
10.2

 
21.4

 
11.2

 
54.3

 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/
Pacific
 
Consolidated
2015
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,035.6

 
$
529.3

 
$
2,045.1

 
$
161.9

 
$
3,771.9

Income (loss) from operations
 
75.5

 
28.3

 
215.1

 
(22.9
)
 
296.0

Depreciation
 
30.5

 
11.5

 
60.4

 
5.8

 
108.2

Capital expenditures
 
26.0

 
10.0

 
47.3

 
18.0

 
101.3

2014
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,333.7

 
$
793.8

 
$
2,757.8

 
$
198.4

 
$
5,083.7

Income (loss) from operations
 
151.0

 
57.8

 
309.0

 
(4.6
)
 
513.2

Depreciation
 
29.4

 
12.8

 
70.2

 
6.9

 
119.3

Capital expenditures
 
36.7

 
16.5

 
82.1

 
20.2

 
155.5

Assets
 
 
 
 
 
 
 
 
 
 
As of June 30, 2015
 
$
1,041.6

 
$
648.7

 
$
2,019.9

 
$
398.1

 
$
4,108.3

As of December 31, 2014
 
$
1,026.9

 
$
719.8

 
$
2,036.0

 
$
353.8

 
$
4,136.5



    
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 June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Segment income from operations
$
196.9

 
$
310.2

 
$
296.0

 
$
513.2

Corporate expenses
(27.4
)
 
(28.2
)
 
(56.4
)
 
(59.6
)
Stock compensation expense
(4.7
)
 
(5.3
)
 
(6.9
)
 
(11.2
)
Restructuring and other infrequent expenses
(4.0
)
 
—

 
(14.6
)
 
—

Amortization of intangibles
(10.9
)
 
(10.0
)
 
(21.4
)
 
(20.0
)
Consolidated income from operations
$
149.9

 
$
266.7

 
$
196.7

 
$
422.4



 
June 30, 2015
 
December 31, 2014
Segment assets
$
4,108.3

 
$
4,136.5

Cash and cash equivalents
498.2

 
363.7

Receivables from affiliates
170.6

 
108.4

Investments in affiliates
421.5

 
424.1

Deferred tax assets, other current and noncurrent assets
586.3

 
616.6

Intangible assets, net
536.2

 
553.8

Goodwill
1,149.3

 
1,192.8

Consolidated total assets
$
7,470.4

 
$
7,395.9