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Segment Reporting | 3 Months Ended
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Mar. 31, 2017
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING Effective January 1, 2017, the Company modified its system of reporting, resulting from changes to its internal management and organizational structure, which changed its reportable segments from North America; South America; Europe/Africa/Middle East; and Asia/Pacific to North America; South America; Europe/Middle East; and Asia/Pacific/Africa. The Asia/Pacific/Africa reportable segment includes the regions of Africa, Asia, Australia and New Zealand, and the Europe/Middle East segment no longer includes certain markets in Africa. Effective January 1, 2017, these reportable segments are reflective of how the Company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Disclosures for both the three months ended March 31, 2017 and 2016, as well as the year ended December 31, 2016, have been adjusted to reflect the change in reportable segments. 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 months ended March 31, 2017 and 2016 and assets as of March 31, 2017 and December 31, 2016 based on the Company’s reportable segments are as follows (in millions):
Three Months Ended March 31, |  | North America |  | South America |  | Europe/ Middle East |  | Asia/ Pacific/Africa |  | Consolidated
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 382.6 |  |  | $ | 222.2 |  |  | $ | 892.5 |  |  | $ | 130.3 |  |  | $ | 1,627.6 |
Income from operations |  | 2.5 |  |  | 2.2 |  |  | 65.3 |  |  | 2.1 |  |  | 72.1 |
Depreciation |  | 14.2 |  |  | 6.8 |  |  | 28.7 |  |  | 4.6 |  |  | 54.3 |
Capital expenditures |  | 22.0 |  |  | 11.7 |  |  | 21.0 |  |  | 2.4 |  |  | 57.1 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 408.4 |  |  | $ | 144.2 |  |  | $ | 899.1 |  |  | $ | 107.6 |  |  | $ | 1,559.3 |
(Loss) income from operations |  | (0.7 | ) |  | 0.4 |  |  | 68.1 |  |  | (0.7 | ) |  | 67.1 |
Depreciation |  | 15.6 |  |  | 4.6 |  |  | 30.8 |  |  | 4.5 |  |  | 55.5 |
Capital expenditures |  | 11.4 |  |  | 6.2 |  |  | 15.5 |  |  | 2.6 |  |  | 35.7 |
Assets |  |  |  |  |  |  |  |  |  |
As of March 31, 2017 |  | $ | 1,004.7 |  |  | $ | 805.8 |  |  | $ | 1,853.8 |  |  | $ | 414.2 |  |  | $ | 4,078.5 |
As of December 31, 2016 |  | 978.5 |  |  | 739.4 |  |  | 1,635.2 |  |  | 426.3 |  |  | 3,779.4 |
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,
| 2017 |  | 2016
Segment income from operations | $ | 72.1 |  |  | $ | 67.1 |
Corporate expenses | (26.6 | ) |  | (29.7 | )
Stock compensation expense | (11.4 | ) |  | (5.1 | )
Restructuring expenses | (5.1 | ) |  | (1.9 | )
Amortization of intangibles | (13.4 | ) |  | (11.0 | )
Consolidated income from operations | $ | 15.6 |  |  | $ | 19.4 |
| March 31, 2017 |  | December 31, 2016
Segment assets | $ | 4,078.5 |  |  | $ | 3,779.4 |
Cash and cash equivalents | 289.9 |  |  | 429.7 |
Investments in affiliates | 429.7 |  |  | 414.9 |
Deferred tax assets, other current and noncurrent assets | 611.7 |  |  | 560.7 |
Intangible assets, net | 596.8 |  |  | 607.3 |
Goodwill | 1,388.0 |  |  | 1,376.4 |
Consolidated total assets | $ | 7,394.6 |  |  | $ | 7,168.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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