Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2014

Net Sales and Operating Income by Segment

The Company’s subsidiaries operate principally in the United States, Canada, Mexico, China and Western Europe.



(In millions)	2014		2013		2012
Net sales:
Cabinets	$	1,787.5	$	1,642.2	$	1,326.6
Plumbing		1,331.0		1,287.0		1,100.7
Doors		413.9		371.6		321.5
Security		481.2		402.8		386.0
Net sales	$	4,013.6	$	3,703.6	$	3,134.8



(In millions)	2014			2013			2012

Operating income (loss):
Cabinets	$	137.9		$	97.1		$	20.5
Plumbing		258.9			228.3			169.2
Doors		29.2			15.3			(1.3	)
Security		49.4			55.4			54.3
Less: Corporate expenses^(a)		(71.9	)		(73.1	)		(99.5	)
Operating income	$	403.5		$	323.0		$	143.2
^(a) Below is a table detailing Corporate expenses:
General and administrative expense	$	(67.0	)	$	(78.0	)	$	(60.8	)
Defined benefit plan income		8.8			10.1			3.5
Recognition of defined benefit plan actuarial losses		(13.7	)		(5.2	)		(42.2	)
Total Corporate expenses	$	(71.9	)	$	(73.1	)	$	(99.5	)

Total assets:
Cabinets	$	1,603.6		$	1,588.0		$	1,248.5
Plumbing		1,270.2			1,176.3			1,081.7
Doors		459.3			462.0			473.3
Security		528.5			361.8			341.7
Corporate		110.7			185.9			305.7
Continuing operations		3,972.3			3,774.0			3,450.9
Discontinued operations		80.6			404.1			423.0
Total assets	$	4,052.9		$	4,178.1		$	3,873.9



(In millions)	2014			2013			2012
Depreciation expense:
Cabinets	$	31.0		$	29.3		$	38.8
Plumbing		18.5			16.7			18.1
Doors		11.7			11.4			12.3
Security		10.0			8.2			8.2
Corporate		2.0			1.3			1.5
Continuing operations		73.2			66.9			78.9
Discontinued operations		9.7			10.3			11.3
Depreciation expense	$	82.9		$	77.2		$	90.2

Amortization of intangible assets:
Cabinets	$	8.0		$	5.1		$	3.3
Doors		3.8			3.8			3.8
Security		1.3			0.5			0.2
Continuing operations		13.1			9.4			7.3
Discontinued operations		2.8			3.8			3.8
Amortization of intangible assets	$	15.9		$	13.2		$	11.1

Capital expenditures:
Cabinets	$	64.0		$	36.4		$	27.7
Plumbing		25.8			25.3			19.1
Doors		10.9			7.3			10.2
Security		16.2			12.6			10.5
Corporate		4.8			2.5			0.2
Continuing operations		121.7			84.1			67.7
Discontinued operations		5.8			12.6			7.3
Capital expenditures, gross		127.5			96.7			75.0
Less: proceeds from disposition of assets		(0.7	)		(2.2	)		(13.5	)
Capital expenditures, net	$	126.8		$	94.5		$	61.5

Net sales by geographic region^(a):
United States	$	3,313.1		$	3,046.5		$	2,528.7
Canada		405.8			413.2			400.5
China and other international		294.7			243.9			205.6
Net sales	$	4,013.6		$	3,703.6		$	3,134.8

Property, plant and equipment, net^(b):
United States	$	429.1		$	378.0		$	369.9
Mexico		72.5			50.8			32.3
Canada		28.4			29.4			32.7
China and other international		9.8			10.1			10.8
Property, plant and equipment, net	$	539.8		$	468.3		$	445.7

^(a)	Based on country of destination

^(b)	Purchases of property, plant and equipment not yet paid for as of December 31, 2014, 2013 and 2012 were $4.2 million, $0.2 million and $3.4 million, respectively.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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