| Business Segments |
Business Segments
The Company has three reportable business segments based on geographic regions, defined as follows:
| | • | Americas, which includes North and South America, with segment headquarters in Reading, Pennsylvania, USA; |
| | • | EMEA, which includes Europe, the Middle East and Africa, with segment headquarters in Zug, Switzerland; and |
| | • | Asia, which includes Asia, Australia and Oceania, with segment headquarters in Singapore. |
Summarized financial information related to the Company's reportable segments for the first quarters ended July 3, 2016 and June 28, 2015 is shown below:
| | | | | | | | | | | | Quarter ended | | | July 3, 2016 | | June 28, 2015 | Net sales by segment to unaffiliated customers | | | | | Americas | | $ | 329,720 |
| | $ | 317,026 |
| EMEA | | 197,130 |
| | 196,641 |
| Asia | | 73,753 |
| | 48,401 |
| Total net sales | | $ | 600,603 |
| | $ | 562,068 |
| Net sales by product line | | | | | Reserve power | | $ | 296,041 |
| | $ | 264,264 |
| Motive power | | 304,562 |
| | 297,804 |
| Total net sales | | $ | 600,603 |
| | $ | 562,068 |
| Intersegment sales | | | | | Americas | | $ | 6,004 |
| | $ | 10,040 |
| EMEA | | 22,163 |
| | 18,638 |
| Asia | | 3,697 |
| | 6,386 |
| Total intersegment sales (1) | | $ | 31,864 |
| | $ | 35,064 |
| Operating earnings by segment | | | | | Americas | | $ | 43,310 |
| | $ | 45,345 |
| EMEA | | 19,836 |
| | 20,552 |
| Asia | | 4,183 |
| | 10 |
| Restructuring charges - Americas | | (892 | ) | | (570 | ) | Restructuring charges - EMEA | | (269 | ) | | (648 | ) | Restructuring charges - Asia | | (136 | ) | | — |
| Gain on sale of facility - Asia | | — |
| | 4,348 |
| Total operating earnings (2) | | $ | 66,032 |
| | $ | 69,037 |
|
| | (1) | Intersegment sales are presented on a cost-plus basis, which takes into consideration the effect of transfer prices between legal entities. |
(2) The Company does not allocate interest expense or other (income) expense to the reportable segments.
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