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Segments (Tables) | 12 Months Ended
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Dec. 31, 2015
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:
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
Food Care |  | $ | 3,405.1 |  |  | $ | 3,835.3 |  |  | $ | 3,814.2 |
As a % of Total Company net sales |  |  | 48.4 | % |  |  | 49.5 | % |  |  | 49.6 | %
Diversey Care |  |  | 1,999.1 |  |  |  | 2,173.1 |  |  |  | 2,160.8 |
As a % of Total Company net sales |  |  | 28.4 | % |  |  | 28.0 | % |  |  | 28.1 | %
Product Care |  |  | 1,540.5 |  |  |  | 1,655.0 |  |  |  | 1,610.0 |
As a % of Total Company net sales |  |  | 21.9 | % |  |  | 21.4 | % |  |  | 20.9 | %
Total Reportable Segments Net Sales |  |  | 6,944.7 |  |  |  | 7,663.4 |  |  |  | 7,585.0 |
Other |  |  | 86.8 |  |  | 87.1 |  |  |  | 105.8 |
Total Company Net Sales |  | $ | 7,031.5 |  |  | $ | 7,750.5 |  |  | $ | 7,690.8 |
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |  |
Food Care |  | $ | 689.8 |  |  | $ | 670.2 |  |  | $ | 614.7 |
Adjusted EBITDA Margin |  |  | 20.3 | % |  |  | 17.5 | % |  |  | 16.1 | %
Diversey Care |  | 231.9 |  |  |  | 245.0 |  |  | 237.3 |
Adjusted EBITDA Margin |  |  | 11.6 | % |  |  | 11.3 | % |  |  | 11.0 | %
Product Care |  |  | 321.0 |  |  | 292.7 |  |  | 266.3 |
Adjusted EBITDA Margin |  |  | 20.8 | % |  |  | 17.7 | % |  |  | 16.5 | %
Total Reportable Segments Adjusted EBITDA |  |  | 1,242.7 |  |  |  | 1,207.9 |  |  |  | 1,118.3 |
Other |  |  | (68.6 | ) |  |  | (89.6 | ) |  |  | (77.8 | )
Non-U.S. GAAP Total Company Adjusted EBITDA |  | $ | 1,174.1 |  |  | $ | 1,118.3 |  |  | $ | 1,040.5 |
Adjusted EBITDA Margin |  |  | 16.7 | % |  |  | 14.4 | % |  |  | 13.5 | %
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:
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Total Company Adjusted EBITDA |  | $ | 1,174.1 |  |  | $ | 1,118.3 |  |  | $ | 1,040.5 |
Depreciation and amortization (1) |  |  | (274.5 | ) |  |  | (320.8 | ) |  |  | (307.5 | )
Special items: |  |  |  |  |  |  |  |  |  |  |  |
Accelerated depreciation of non-strategic assets related to restructuring programs |  |  | 0.2 |  |  |  | 2.1 |  |  |  | 5.3 |
Restructuring and other charges(2) |  |  | (78.3 | ) |  |  | (65.7 | ) |  |  | (73.8 | )
Other restructuring associated costs included in cost of sales and selling, general and administrative expenses |  |  | (42.9 | ) |  |  | (35.8 | ) |  |  | (26.6 | )
Development grant matter included in selling, general and administrative expenses |  |  | — |  |  |  | (14.0 | ) |  |  | — |
Termination of licensing agreement |  |  | — |  |  |  | (5.3 | ) |  |  | — |
SARs |  |  | (3.9 | ) |  |  | (8.1 | ) |  |  | (38.1 | )
Impairments of equity method investment |  |  | — |  |  |  | (5.7 | ) |  |  | (2.1 | )
Foreign currency exchange (loss) gains related to Venezuelan subsidiaries |  |  | (33.1 | ) |  |  | (20.4 | ) |  |  | (13.1 | )
Loss on debt redemption and refinancing activities |  |  | (110.0 | ) |  |  | (102.5 | ) |  |  | (36.3 | )
Gain (loss) from Claims Settlement in 2014 and related costs |  |  | — |  |  |  | 21.1 |  |  |  | (1.0 | )
Gain, net, on sale of North American foam trays and absorbent pads business and European food trays business |  |  | 13.4 |  |  |  | — |  |  |  | — |
Non-operating charge for contingent guarantee included in other income (expense), net |  |  | — |  |  |  | (2.5 | ) |  |  | — |
Other special items |  |  | 8.6 |  |  |  | (5.8 | ) |  |  | (6.1 | )
Interest expense |  |  | (227.7 | ) |  |  | (287.7 | ) |  |  | (361.0 | )
Income tax provision |  |  | 90.5 |  |  |  | 9.1 |  |  |  | 84.9 |
Net earnings from continuing operations |  | $ | 335.4 |  |  | $ | 258.1 |  |  | $ | 95.3 |
(1) | Depreciation and amortization by segment is as follows:
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Food Care |  | $ | 107.9 |  |  | $ | 121.3 |  |  | $ | 118.4 |
Diversey Care |  |  | 105.5 |  |  |  | 126.3 |  |  |  | 132.3 |
Product Care |  |  | 37.4 |  |  |  | 41.4 |  |  |  | 38.2 |
Total reportable segments |  |  | 250.8 |  |  |  | 289.0 |  |  |  | 288.9 |
Other |  |  | 23.7 |  |  |  | 31.8 |  |  |  | 18.6 |
Total Company depreciation and amortization(1) |  | $ | 274.5 |  |  | $ | 320.8 |  |  | $ | 307.5 |
(1) | Includes share-based incentive compensation of $61.2 million in 2015, $54.1 million in 2014, and $24.1 million in 2013.
(2) | Restructuring and other charges by segment were as follows:
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Food Care |  | $ | 37.9 |  |  | $ | 27.3 |  |  | $ | 25.1 |
Diversey Care |  |  | 22.2 |  |  |  | 24.3 |  |  |  | 32.2 |
Product Care |  |  | 17.2 |  |  |  | 13.6 |  |  |  | 16.4 |
Total reportable segments |  |  | 77.3 |  |  |  | 65.2 |  |  |  | 73.7 |
Other |  |  | 1.0 |  |  |  | 0.5 |  |  |  | 0.1 |
Total Company restructuring and other charges |  | $ | 78.3 |  |  | $ | 65.7 |  |  | $ | 73.8 |
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, |  |  | December 31, |
(In millions) |  | 2015 |  |  | 2014 |
Assets: |  |  |  |  |  |  |  |
Trade receivables, net, and finished goods inventories, net |  |  |  |  |  |  |  |
Food Care |  | $ | 522.4 |  |  | $ | 678.2 |
Diversey Care |  |  | 440.3 |  |  |  | 514.5 |
Product Care |  |  | 219.6 |  |  |  | 279.1 |
Other |  |  | 14.8 |  |  |  | 14.0 |
Total segments and other |  |  | 1,197.1 |  |  |  | 1,485.8 |
Assets not allocated |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 358.4 |  |  |  | 286.4 |
Property and equipment, net |  |  | 930.7 |  |  |  | 943.0 |
Goodwill |  |  | 2,909.5 |  |  |  | 2,996.9 |
Intangible assets, net |  |  | 784.3 |  |  |  | 872.2 |
Assets held for sale |  |  | 10.3 |  |  |  | 106.4 |
Other |  |  | 1,235.7 |  |  |  | 1,262.5 |
Total |  | $ | 7,426.0 |  |  | $ | 7,953.2 |
Geographic Information | Geographic Information
|  | Year Ended December 31, |
(In millions) |  | 2015 |  |  | 2014 |  |  | 2013 |
Net sales(1): |  |  |  |  |  |  |  |  |  |  |  |
North America(4) |  | $ | 2,923.2 |  |  | $ | 3,071.9 |  |  | $ | 3,004.9 |
EMEA(3) |  |  | 2,410.4 |  |  |  | 2,783.2 |  |  |  | 2,770.7 |
Latin America |  |  | 695.8 |  |  |  | 807.5 |  |  |  | 840.7 |
APAC(3) |  |  | 1,002.1 |  |  |  | 1,087.9 |  |  |  | 1,074.5 |
Total |  | $ | 7,031.5 |  |  | $ | 7,750.5 |  |  | $ | 7,690.8 |
Total long-lived assets(1)(2): |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 616.5 |  |  | $ | 542.5 |  |  |  |  |
EMEA(3) |  |  | 377.3 |  |  |  | 413.2 |  |  |  |  |
Latin America |  |  | 127.0 |  |  |  | 143.6 |  |  |  |  |
APAC(3) |  |  | 191.1 |  |  |  | 216.8 |  |  |  |  |
Total |  | $ | 1,311.9 |  |  | $ | 1,316.1 |  |  |  |  |
(1) | Net sales to external customers attributed to geographic areas represent net sales to external customers based on destination. No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the years ended December 31, 2015, 2014, or 2013 or long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2015 and 2014.
(2) | Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill and intangible assets.
(3) | As previously announced, the Company underwent a reorganization of its AMAT region. This reorganization involved transitioning the previously reported AMAT region to an Asia Pacific (APAC) region, which now includes Asia, Australia, New Zealand and moving the Middle East, Africa and Turkey countries into the Company’s existing European regional organization, now referred to as EMEA. This took effect beginning in the second quarter of 2015.
(4) | Net sales to external customers within the U.S. were $2,685.3 million for the year ended December 31, 2015, $2,797.5 million for the year ended December 31, 2014 and $2,724.5 million for the year ended December 31, 2013.

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