Information on Business Segments (Tables)

9 Months Ended

Sep. 30, 2015

Net Sales and Operating Income by Segment

Net sales and operating income for the nine and three months ended September 30, 2015 and 2014 by segment were as follows:


	Nine Months Ended September 30,
(In millions)	2015			2014			% Change vs. Prior Year
Net Sales
Cabinets	$	1,565.3		$	1,331.4			17.6	%
Plumbing		1,056.0			995.9			6.0
Doors		324.6			304.5			6.6
Security		408.8			342.2			19.5

Net sales	$	3,354.7		$	2,974.0			12.8	%

Operating Income
Cabinets	$	132.1		$	102.5			28.9	%
Plumbing		214.6			202.6			5.9
Doors		30.7			21.7			41.5
Security		43.1			43.4			(0.7	)
Less: Corporate expenses		(64.7	)		(45.9	)		(41.0	)

Operating income	$	355.8		$	324.3			9.7	%

Corporate expenses
General and administrative expense	$	(51.7	)	$	(50.7	)
Defined benefit plan income		2.1			4.8
Norcraft transaction costs^(a)		(15.1	)		—

Total Corporate expenses	$	(64.7	)	$	(45.9	)		(41.0	)%

^(a)

Represents external costs directly related to the acquisition of Norcraft and primarily includes expenditures for banking, legal, accounting and other similar services.


	Three Months Ended September 30,
(In millions)	2015			2014			% Change vs. Prior Year
Net Sales
Cabinets	$	603.3		$	452.6			33.3	%
Plumbing		364.4			345.9			5.3
Doors		123.8			114.4			8.2
Security		147.3			144.8			1.7

Net sales	$	1,238.8		$	1,057.7			17.1	%

Operating Income
Cabinets	$	64.2		$	36.5			75.9	%
Plumbing		80.9			75.8			6.7
Doors		16.7			12.1			38.0
Security		16.6			20.2			(17.8	)
Less: Corporate expenses		(18.1	)		(15.1	)		(19.9	)

Operating income	$	160.3		$	129.5			23.8	%

Corporate expenses
General and administrative expense	$	(16.7	)	$	(15.9	)
Defined benefit plan income		(1.2	)		0.8
Norcraft transaction costs^(a)		(0.2	)		—

Total Corporate expenses	$	(18.1	)	$	(15.1	)		(19.9	)%

^(a)

Represents external costs directly related to the acquisition of Norcraft and primarily includes expenditures for banking, legal, accounting and other similar services.