(4) Segments

During the fourth quarter of 2012, we began to operate under three new business divisions for our segment reporting structure. This new structure replaced our legacy seven business unit structure. Our new segment reporting structure, which we also refer to as “divisions”, reflects the way management now makes operating decisions and manages the growth and profitability of the business. It also corresponds with management’s current approach of allocating resources and assessing the performance of our segments. We report our segment information in accordance with the provision of Financial Accounting Standards Board Accounting Standards Codification Topic 280, “Segment Reporting.” The changes to our segment structure have no effect on the historical consolidated results of operations of the Company. Prior period segment results have been revised to the new segment presentation.

The following table shows net sales, depreciation and amortization and operating profit by our segment reporting structure:


	Three Months Ended
	March 31,
	2013			2012
Net sales
Food & Beverage	$	902.5		$	895.1
Institutional & Laundry		512.9			510.2
Protective Packaging		386.6			391.3
Other Category		50.8			48.8

Total	$	1,852.8		$	1,845.4

Depreciation and amortization⁽¹⁾
Food & Beverage	$	33.6		$	41.4
Institutional & Laundry		33.8			30.7
Protective Packaging		10.2			9.7
Other Category		2.8			2.7

Total	$	80.4		$	84.5

Operating profit
Food & Beverage	$	92.8		$	82.3
Institutional & Laundry		(8.5	)		(0.7	)
Protective Packaging		46.7			50.9
Other Category		(0.6	)		(0.6	)

Total segments and other		130.4			131.9

Costs related to the acquisition and integration of Diversey		0.4			1.8
Restructuring and other (credits) charges⁽²⁾		(0.2	)		47.0

Total	$	130.2		$	83.1

(1)	Includes depreciation and amortization of $72.8 million in 2013 and $80.0 million in 2012, and amortization of share-based incentive compensation expense of $7.6 million in 2013 and $4.5 million in 2012.

(2)	Restructuring and other charges (credits) by our segment reporting structure were as follows:


	Three Months Ended
	March 31,
	2013			2012
Food & Beverage	$	(1.4	)	$	35.7
Institutional & Laundry		(0.8	)		4.9
Protective Packaging		2.0			6.2
Other Category		—			0.2

Total	$	(0.2	)	$	47.0

The restructuring and other (credits) charges in 2013 primarily relate to the 2011-2014 Integration and Optimization Program. See Note 9, “Restructuring Activities.”

Allocation of Goodwill and Identifiable Intangible Assets to Reportable Segments

Our management views goodwill and identifiable intangible assets as a corporate asset, so we do not allocate their balances to the reportable segments. However, we are required to allocate their balances to each reporting unit to perform our annual impairment review of goodwill. See Note 7, “Goodwill and Identifiable Intangible Assets,” for the allocation of goodwill and identifiable intangible assets and the changes in their balances in the three months ended March 31, 2013 by our reporting unit structure.