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Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has two reportable segments. Business units are organized under each reportable segment because they share certain characteristics, such as technology, marketing, distribution and product application, which create long-term synergies.

As discussed in Note 2 – Acquisitions, the assets and liabilities of MRL have been consolidated into the Condensed Consolidated Balance Sheet as of September 30, 2019, while the post-acquisition results of operations have been included in the Condensed Consolidated Statements of Operations subsequent to the July 1, 2019 closing date. MRL’s post-acquisition results of operations are included within the Environmental Solutions Group.

The following tables summarize the Company’s operations by segment, including Net sales, Operating income (loss), and Total assets:

	Three Months Ended   September 30,								Nine Months Ended   September 30,
(in millions)	2019				2018				2019				2018
Net sales:
Environmental Solutions	$	254.0			$	216.3			$	740.7			$	646.2
Safety and Security Systems	54.8				53.1				166.2				163.9
Total net sales	$	308.8			$	269.4			$	906.9			$	810.1
Operating income (loss):
Environmental Solutions	$	35.9			$	28.3			$	106.4			$	86.1
Safety and Security Systems	8.6				8.0				26.8				22.3
Corporate and eliminations	(5.9		)		(5.9		)		(22.5		)		(20.3		)
Total operating income	38.6				30.4				110.7				88.1
Interest expense	2.1				2.2				6.1				7.2
Other expense, net	0.2				—				0.5				0.5
Income before income taxes	$	36.3			$	28.2			$	104.1			$	80.4

(in millions)	As of   September 30, 2019				As of December 31, 2018
Total assets:
Environmental Solutions	$	916.7			$	775.2
Safety and Security Systems	217.1				211.5
Corporate and eliminations	39.4				36.7
Total assets of continuing operations	1,173.2				1,023.4
Total assets of discontinued operations	0.4				0.4
Total assets	$	1,173.6			$	1,023.8

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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