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Segment Reporting
 12 Months Ended
Dec. 31, 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 (loss) 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 (loss) from operations for one segment may not be comparable to another segment. Segment results for the years ended December 31, 2015, 2014 and 2013 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
2015
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,965.0

 
$
949.0

 
$
4,151.3

 
$
402.0

 
$
7,467.3

Income (loss) from operations
 
123.4

 
34.4

 
416.7

 
(27.6
)
 
546.9

Depreciation
 
62.7

 
20.9

 
122.4

 
11.4

 
217.4

Assets
 
943.7

 
490.0

 
1,757.2

 
346.3

 
3,537.2

Capital expenditures
 
48.6

 
28.6

 
100.8

 
33.4

 
211.4

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


A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):
 
2015
 
2014
 
2013
Segment income from operations
$
546.9

 
$
841.9

 
$
1,097.3

Corporate expenses
(109.2
)
 
(117.7
)
 
(116.2
)
Stock compensation (expense) credit
(11.6
)
 
9.7

 
(32.6
)
Restructuring and other infrequent expenses
(22.3
)
 
(46.4
)
 
—

Amortization of intangibles
(42.7
)
 
(41.0
)
 
(47.8
)
Consolidated income from operations
$
361.1

 
$
646.5

 
$
900.7

 
 
 
 
 
 
Segment assets
$
3,537.2

 
$
4,136.5

 
$
4,434.7

Cash and cash equivalents
426.7

 
363.7

 
1,047.2

Receivables from affiliates
70.1

 
108.4

 
124.3

Investments in affiliates
392.9

 
424.1

 
416.1

Deferred tax assets, other current and noncurrent assets
452.2

 
589.5

 
629.2

Intangible assets, net
507.7

 
553.8

 
565.6

Goodwill
1,114.5

 
1,192.8

 
1,178.7

Consolidated total assets
$
6,501.3

 
$
7,368.8

 
$
8,395.8



Net sales by customer location for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):
 
2015
 
2014
 
2013
Net sales:
 

 
 

 
 

United States
$
1,624.0

 
$
1,985.4

 
$
2,216.5

Canada
233.6

 
333.9

 
419.4

Germany
913.2

 
1,240.0

 
1,301.0

France
762.6

 
828.4

 
1,136.8

United Kingdom and Ireland
414.5

 
490.8

 
471.8

Finland and Scandinavia
637.0

 
808.4

 
828.5

Other Europe
1,077.7

 
1,376.0

 
1,422.6

South America
932.3

 
1,646.2

 
2,018.5

Middle East and Africa
346.4

 
414.9

 
320.7

Asia
201.0

 
253.6

 
293.1

Australia and New Zealand
201.1

 
234.1

 
214.8

Mexico, Central America and Caribbean
123.9

 
112.0

 
143.2

 
$
7,467.3

 
$
9,723.7

 
$
10,786.9



Net sales by product for the years ended December 31, 2015, 2014 and 2013 were as follows (in millions):
 
2015
 
2014
 
2013
Net sales:
 

 
 

 
 

Tractors
$
4,244.1

 
$
5,566.8

 
$
6,491.1

Replacement parts
1,204.4

 
1,390.1

 
1,349.1

Other machinery
629.6

 
875.3

 
1,001.0

Grain storage and protein production systems
766.2

 
851.0

 
771.9

Combines
331.9

 
581.0

 
652.8

Application equipment
291.1

 
459.5

 
521.0

 
$
7,467.3

 
$
9,723.7

 
$
10,786.9


Property, plant and equipment and amortizable intangible assets by country as of December 31, 2015 and 2014 was as follows (in millions):
 
2015
 
2014
United States
$
619.0

 
$
666.7

Finland
165.2

 
192.5

Germany
369.2

 
420.8

Brazil
143.6

 
204.1

Italy
88.3

 
101.8

China
150.0

 
138.7

France
68.3

 
83.2

Other
165.9

 
187.4

 
$
1,769.5

 
$
1,995.2