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Segments (Tables) | 12 Months Ended
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Dec. 31, 2013
Segment Reporting [Abstract] |
Net Sales and Adjusted EBITDA of Reportable Segments | The following tables show net sales and Adjusted EBITDA by our segment reporting structure:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Net sales |  |  |  |  |  |  |  |
Food Care |  | $ | 3,814.2 |  |  | $ | 3,744.0 |  |  | $ | 3,242.3 |
Diversey Care |  |  | 2,160.8 |  |  |  | 2,131.9 |  |  |  | 534.6 |
Product Care |  |  | 1,610.0 |  |  |  | 1,580.4 |  |  |  | 1,595.0 |
Total reportable segments |  |  | 7,585.0 |  |  |  | 7,456.3 |  |  |  | 5,371.9 |
Other |  |  | 105.8 |  |  |  | 102.9 |  |  |  | 95.4 |
Total |  | $ | 7,690.8 |  |  | $ | 7,559.2 |  |  | $ | 5,467.3 |
Adjusted EBITDA |  |  |  |  |  |  |  |
Food Care |  | $ | 613.9 |  |  | $ | 577.7 |  |  | $ | 532.3 |
Adjusted EBITDA margin |  |  | 16.1 | % |  |  | 15.4 | % |  |  | 16.4 | %
Diversey Care |  |  | 237.3 |  |  |  | 217.9 |  |  |  | 39.8 |
Adjusted EBITDA margin |  |  | 11.0 | % |  |  | 10.2 | % |  |  | 7.4 | %
Product Care |  |  | 264.5 |  |  |  | 267.4 |  |  |  | 263.1 |
Adjusted EBITDA margin |  |  | 16.4 | % |  |  | 16.9 | % |  |  | 16.5 | %
Total reportable segments Adjusted EBITDA |  | $ | 1,115.7 |  |  | $ | 1,063.0 |  |  | $ | 835.2 |
Adjusted EBITDA margin |  |  | 14.7 | % |  |  | 14.3 | % |  |  | 15.5 | %
Other |  |  | (77.7 | ) |  |  | (82.3 | ) |  |  | (79.3 | )
Adjusted EBITDA margin |  |  | (73.4 | )% |  |  | (80.0 | )% |  |  | (83.1 | )%
Total Company Adjusted EBITDA |  | $ | 1,038.0 |  |  | $ | 980.7 |  |  | $ | 755.9 |
Adjusted EBITDA margin |  |  | 13.5 | % |  |  | 13.0 | % |  |  | 13.8 | %
Reconciliation of Non-U.S.GAAP Adjusted EBITDA to U.S.GAAP Net Earnings | The following table shows a reconciliation of Non-U.S. GAAP Total Company Adjusted EBITDA to U.S. GAAP net earnings from continuing operations:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Non-U.S. GAAP Total Company Adjusted EBITDA |  | $ | 1,038.0 |  |  | $ | 980.7 |  |  | $ | 755.9 |
Depreciation and amortization(1) |  |  | (307.5 | ) |  |  | (317.1 | ) |  |  | (208.3 | )
Special items(2): |  |  |  |  |  |  |  |
Write-down of non-strategic assets included in depreciation and amortization(2) |  |  | 5.3 |  |  |  | 0.8 |  |  |  | — |
Impairment of goodwill and other intangible assets(3) |  |  | — |  |  |  | (1,892.3 | ) |  |  | — |
Restructuring and other charges(4) |  |  | (73.8 | ) |  |  | (142.5 | ) |  |  | (52.2 | )
Other restructuring associated costs included in cost of sales and selling general and administrative expenses |  |  | (32.0 | ) |  |  | (38.9 | ) |  |  | (3.9 | )
SARs |  |  | (38.1 | ) |  |  | (18.4 | ) |  |  | — |
Costs related to the acquisition and integration of Diversey |  |  | (1.1 | ) |  |  | (7.4 | ) |  |  | (64.8 | )
Impairment of equity method investment in 2013 and 2012 including related bad debt write-down of $2.3 million in 2012 |  |  | (2.1 | ) |  |  | (25.8 | ) |  |  | — |
Foreign currency exchange losses related to Venezuelan subsidiaries |  |  | (13.1 | ) |  |  | (0.4 | ) |  |  | (0.3 | )
Loss on debt redemption |  |  | (36.3 | ) |  |  | (36.9 | ) |  |  | — |
Settlement agreement related costs |  |  | (1.0 | ) |  |  | (0.7 | ) |  |  | (0.9 | )
Additional cost of sales for the step-up in inventories, net related to the Diversey acquisition in 2011 |  |  | — |  |  |  | — |  |  |  | (10.8 | )
Legacy Diversey non-recurring charges in 2011 |  |  | — |  |  |  | — |  |  |  | (12.6 | )
Gain on sale of facility in 2011 |  |  | — |  |  |  | — |  |  |  | 3.9 |
Other expense, net |  |  | 0.4 |  |  |  | 1.0 |  |  |  | — |
Interest expense |  |  | (361.0 | ) |  |  | (384.7 | ) |  |  | (216.6 | )
Income tax provision (benefit) |  |  | 84.0 |  |  |  | (264.7 | ) |  |  | 56.7 |
U.S. GAAP net earnings (loss) from continuing operations |  | $ | 93.7 |  |  | $ | (1,617.9 | ) |  | $ | 132.7 |
(1) | Depreciation and amortization by segment is as follows:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Food Care |  | $ | 118.4 |  |  | $ | 140.0 |  |  | $ | 113.7 |
Diversey Care |  |  | 132.3 |  |  |  | 127.6 |  |  |  | 34.7 |
Product Care |  |  | 38.2 |  |  |  | 37.9 |  |  |  | 40.9 |
Total reportable segments |  |  | 288.9 |  |  |  | 305.5 |  |  |  | 189.3 |
Other (includes write-down of non-strategic assets) |  |  | 18.6 |  |  |  | 11.6 |  |  |  | 19.0 |
Total Company |  | $ | 307.5 |  |  | $ | 317.1 |  |  | $ | 208.3 |
(2) | Includes items the Company considers unusual or special items. See “Non-U.S. GAAP information” above for further information.
(3) | Impairment of goodwill and other intangible assets in 2012 by our segment reporting structure was as follows:
|  | 2012 |
Food Care |  | $ | 543.4 |
Diversey Care |  |  | 1,326.7 |
Product Care |  |  | — |
Other |  |  | 22.2 |
Total |  | $ | 1,892.3 |
See Note 8, “Goodwill and Identifiable Intangible Assets” for a discussion of the facts and circumstance that led to this impairment in 2012.
(4) | Restructuring and other charges by our segment reporting structure were as follows:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Food Care |  | $ | 25.1 |  |  | $ | 72.0 |  |  | $ | 13.1 |
Diversey Care |  |  | 32.2 |  |  |  | 53.1 |  |  |  | 39.5 |
Product Care |  |  | 16.4 |  |  |  | 16.7 |  |  |  | (0.4 | )
Other |  |  | 0.1 |  |  |  | 0.7 |  |  |  | — |
Total |  | $ | 73.8 |  |  | $ | 142.5 |  |  | $ | 52.2 |
Assets by Reportable Segments | The following table shows assets allocated by our segment reporting structure. Only assets which are identifiable by segment and reviewed by our chief operating decision maker by segment are allocated to the reportable segment assets, which are trade receivables, net, and finished goods inventories, net. All other assets are included in “Assets not allocated.”
|  | December 31, 2013 |  |  | December 31, 2012 |
Assets: |  |  |  |  |  |  |  |
Trade receivables, net, and finished goods inventories, net |  |  |  |  |  |  |  |
Food Care |  | $ | 768.5 |  |  | $ | 811.9 |
Diversey Care |  |  | 543.0 |  |  |  | 587.8 |
Product Care |  |  | 310.1 |  |  |  | 331.3 |
Other |  |  | 19.3 |  |  |  | 22.0 |
Total segments and other |  |  | 1,640.9 |  |  |  | 1,753.0 |
Assets not allocated |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 992.4 |  |  |  | 679.6 |
Property and equipment, net |  |  | 1,134.5 |  |  |  | 1,194.2 |
Goodwill |  |  | 3,114.6 |  |  |  | 3,151.2 |
Intangibles, net |  |  | 1,016.9 |  |  |  | 1,131.6 |
Assets held for sale |  |  | — |  |  |  | 87.3 |
Other assets |  |  | 1,234.9 |  |  |  | 1,334.8 |
Total |  | $ | 9,134.2 |  |  | $ | 9,331.7 |
Geographic Information | Geographic Information
|  | 2013 |  |  | 2012 |  |  | 2011 |
Net sales(1): |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 2,729.7 |  |  |  | 2,684.7 |  |  |  | 2,279.6 |
Canada |  |  | 277.2 |  |  |  | 267.7 |  |  |  | 172.6 |
Europe |  |  | 2,447.8 |  |  |  | 2,416.5 |  |  |  | 1,581.9 |
Latin America |  |  | 824.3 |  |  |  | 799.7 |  |  |  | 545.7 |
AMAT |  |  | 846.8 |  |  |  | 794.4 |  |  |  | 346.0 |
JANZ |  |  | 565.0 |  |  |  | 596.2 |  |  |  | 541.5 |
Total |  |  | 7,690.8 |  |  |  | 7,559.2 |  |  |  | 5,467.3 |
Total long-lived assets(1)(2): |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 2,918.0 |  |  |  | 2,985.0 |  |  |  | 4,536.3 |
Canada |  |  | 93.0 |  |  |  | 105.8 |  |  |  | 48.0 |
Europe |  |  | 1,591.5 |  |  |  | 1,643.2 |  |  |  | 1,945.3 |
Latin America |  |  | 233.6 |  |  |  | 259.8 |  |  |  | 385.4 |
AMAT |  |  | 650.0 |  |  |  | 699.8 |  |  |  | 815.8 |
JANZ |  |  | 167.3 |  |  |  | 198.5 |  |  |  | 169.9 |
Total |  |  | 5,653.4 |  |  |  | 5,892.1 |  |  |  | 7,900.7 |
(1) | Net sales attributed to the geographic areas represent net sales to external customers. No non-U.S. country had net sales in excess of 10% of consolidated net sales or long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2013 and 2012.
(2) | Total long-lived assets are total assets excluding total current assets and deferred tax assets.

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