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Segment Reporting
 9 Months Ended
Sep. 30, 2016
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 three and nine months ended September 30, 2016 and 2015 and assets as of September 30, 2016 and December 31, 2015 based on the Company’s reportable segments are as follows (in millions):
Three Months Ended September 30,
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/
Pacific
 
Consolidated
2016
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
453.0

 
$
261.8

 
$
909.5

 
$
137.3

 
$
1,761.6

Income from operations
 
21.1

 
5.9

 
78.3

 
4.6

 
109.9

Depreciation
 
14.4

 
6.2

 
30.4

 
4.1

 
55.1

Capital expenditures
 
11.3

 
26.7

 
22.8

 
—

 
60.8

2015
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
494.9

 
$
231.4

 
$
894.3

 
$
115.8

 
$
1,736.4

Income (loss) from operations
 
40.9

 
10.5

 
68.9

 
(2.5
)
 
117.8

Depreciation
 
16.0

 
4.9

 
29.5

 
3.4

 
53.8

Capital expenditures
 
10.3

 
7.4

 
18.4

 
9.7

 
45.8

Nine Months Ended September 30,
 
North
America
 
South
America
 
Europe/Africa/
Middle East
 
Asia/
Pacific
 
Consolidated
2016
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,360.3

 
$
609.4

 
$
3,018.9

 
$
327.9

 
$
5,316.5

Income from operations
 
44.0

 
6.3

 
291.9

 
3.9

 
346.1

Depreciation
 
46.5

 
16.1

 
93.1

 
11.3

 
167.0

Capital expenditures
 
31.1

 
41.1

 
57.1

 
3.5

 
132.8

2015
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,530.5

 
$
760.7

 
$
2,939.4

 
$
277.7

 
$
5,508.3

Income (loss) from operations
 
116.4

 
38.8

 
284.0

 
(25.4
)
 
413.8

Depreciation
 
46.5

 
16.4

 
89.9

 
9.2

 
162.0

Capital expenditures
 
36.3

 
17.4

 
65.7

 
27.7

 
147.1

Assets
 
 
 
 
 
 
 
 
 
 
As of September 30, 2016
 
$
1,006.1

 
$
707.9

 
$
2,039.7

 
$
410.0

 
$
4,163.7

As of December 31, 2015
 
$
943.7

 
$
490.0

 
$
1,757.2

 
$
346.3

 
$
3,537.2


    


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 September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Segment income from operations
$
109.9

 
$
117.8

 
$
346.1

 
$
413.8

Corporate expenses
(29.3
)
 
(24.7
)
 
(90.3
)
 
(81.1
)
Stock compensation expense
(7.2
)
 
(3.2
)
 
(18.0
)
 
(10.1
)
Restructuring expenses
(1.5
)
 
—

 
(5.5
)
 
(14.6
)
Amortization of intangibles
(12.9
)
 
(10.8
)
 
(35.3
)
 
(32.2
)
Consolidated income from operations
$
59.0

 
$
79.1

 
$
197.0

 
$
275.8



 
September 30, 2016
 
December 31, 2015
Segment assets
$
4,163.7

 
$
3,537.2

Cash and cash equivalents
297.8

 
426.7

Receivables from affiliates
61.3

 
70.1

Investments in affiliates
435.3

 
392.9

Deferred tax assets, other current and noncurrent assets
529.1

 
448.6

Intangible assets, net
637.1

 
507.7

Goodwill
1,416.7

 
1,114.5

Consolidated total assets
$
7,541.0

 
$
6,497.7