XML 51 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Information on Business Segments
 9 Months Ended
Sep. 30, 2014
Information on Business Segments
14. Information on Business Segments

In August 2014, the Company entered into a stock purchase agreement to sell Simonton for $130 million in cash. The sale was completed in September 2014. Historical information on business segments now excludes Simonton, which is presented as a discontinued operation in the consolidated financial statements of the Company. Simonton was previously reported in the Advanced Material Windows & Door Systems segment, which has been renamed the Doors segment. Refer to Note 3, “Discontinued Operation,” for additional information.

Net sales and operating income for the nine months ended September 30, 2014 and 2013 by segment were as follows:

 

     Nine Months Ended September 30,  
(In millions)    2014     2013     % Change
vs. Prior Year		  

Net Sales

       

Cabinets

    $ 1,331.4      $ 1,186.3        12.2 % 

Plumbing

      995.9        969.6        2.7   

Doors

      304.5        274.1        11.1   

Security & Storage

      441.5        417.9        5.6   
  

 

 

    

 

 

    

Net sales

    $ 3,073.3      $ 2,847.9        7.9 % 

Operating Income

       

Cabinets

    $ 102.5      $ 63.8        60.7 % 

Plumbing

      202.6        176.2        15.0   

Doors

      21.7        12.0        80.8   

Security & Storage

      56.7        68.1        (16.7 ) 

Less: Corporate expenses

      (45.9 )      (56.2 )      18.3   
  

 

 

    

 

 

    

Operating income

    $ 337.6      $ 263.9        27.9 % 

Corporate expenses

       

General and administrative expense

    $ (50.7 )    $ (58.2 )   

Defined benefit plan costs

      4.8        2.0     
  

 

 

    

 

 

    

Total Corporate expenses

    $ (45.9 )    $ (56.2 )      18.3 % 

 

Net sales and operating income for the three months ended September 30, 2014 and 2013 by segment were as follows:

 

     Three Months Ended September 30,  
(In millions)    2014     2013     % Change
vs. Prior Year		  

Net Sales

       

Cabinets

    $ 452.6      $ 448.6        0.9 % 

Plumbing

      345.9        338.1        2.3   

Doors

      114.4        100.9        13.4   

Security & Storage

      184.8        157.4        17.4   
  

 

 

    

 

 

    

Net sales

    $ 1,097.7      $ 1,045.0        5.0 % 

Operating Income

       

Cabinets

    $ 36.5      $ 14.1        158.9 % 

Plumbing

      75.8        65.9        15.0   

Doors

      12.1        7.5        61.3   

Security & Storage

      27.1        29.5        (8.1 ) 

Less: Corporate expenses

      (15.1 )      (19.4 )      22.2   
  

 

 

    

 

 

    

Operating income

    $ 136.4      $ 97.6        39.8 % 

Corporate expenses

       

General and administrative expense

    $ (15.9 )    $ (21.9 )   

Defined benefit plan costs

      0.8        2.5     
  

 

 

    

 

 

    

Total Corporate expenses

    $ (15.1 )    $ (19.4 )      22.2 %