| Business Segments |
Business Segments
Summarized financial information related to the Company’s reportable segments at March 31, 2017, 2016 and 2015 and for each of the fiscal years then ended is shown below. | | | | | | | | | | | | | | | | Fiscal year ended March 31, | | | 2017 | | 2016 | | 2015 | Net sales by segment to unaffiliated customers | | | | | | | Americas | | $ | 1,332,353 |
| | $ | 1,276,027 |
| | $ | 1,322,337 |
| EMEA | | 763,013 |
| | 787,402 |
| | 948,845 |
| Asia | | 271,783 |
| | 252,820 |
| | 234,330 |
| Total net sales | | $ | 2,367,149 |
| | $ | 2,316,249 |
| | $ | 2,505,512 |
| Net sales by product line | | | | | | | Reserve power | | $ | 1,142,327 |
| | $ | 1,109,154 |
| | $ | 1,252,637 |
| Motive power | | 1,224,822 |
| | 1,207,095 |
| | 1,252,875 |
| Total net sales | | $ | 2,367,149 |
| | $ | 2,316,249 |
| | $ | 2,505,512 |
| Intersegment sales | | | | | | | Americas | | $ | 26,039 |
| | $ | 32,984 |
| | $ | 29,987 |
| EMEA | | 93,150 |
| | 78,812 |
| | 69,396 |
| Asia | | 22,584 |
| | 23,590 |
| | 33,786 |
| Total intersegment sales(1) | | $ | 141,773 |
| | $ | 135,386 |
| | $ | 133,169 |
| Operating earnings | | | | | | | Americas | | $ | 191,500 |
| | $ | 182,774 |
| | $ | 162,741 |
| EMEA | | 76,425 |
| | 75,666 |
| | 109,861 |
| Asia | | 14,994 |
| | 570 |
| | 9,928 |
| Inventory adjustment relating to exit activities—EMEA | | (2,157 | ) | | — |
| | — |
| Restructuring charges—Americas | | (892 | ) | | (2,058 | ) | | — |
| Restructuring and other exit charges—EMEA | | (5,487 | ) | | (9,501 | ) | | (7,567 | ) | Restructuring charges—Asia | | (781 | ) | | (1,419 | ) | | (3,869 | ) | Impairment of goodwill and indefinite-lived intangibles—Americas | | (9,346 | ) | | (32,999 | ) | | (23,196 | ) | Impairment of goodwill, indefinite-lived intangibles and fixed assets—EMEA | | (4,670 | ) | | (3,253 | ) | | (750 | ) | Reversal of legal accrual, net of fees—Americas | | — |
| | 799 |
| | 16,233 |
| Legal proceedings charge—EMEA | | (23,725 | ) | | (4,000 | ) | | — |
| Gain on sale of facility—Asia | | — |
| | 3,420 |
| | — |
| Total operating earnings(2) | | $ | 235,861 |
| | $ | 209,999 |
| | $ | 263,381 |
| Property, plant and equipment, net | | | | | | | Americas | | $ | 190,169 |
| | $ | 177,720 |
| | $ | 168,274 |
| EMEA | | 100,042 |
| | 112,839 |
| | 114,681 |
| Asia | | 58,338 |
| | 66,850 |
| | 73,899 |
| Total | | $ | 348,549 |
| | $ | 357,409 |
| | $ | 356,854 |
| Capital Expenditures | | | | | | | Americas | | $ | 34,809 |
| | $ | 39,127 |
| | $ | 34,768 |
| EMEA | | 13,733 |
| | 12,625 |
| | 16,215 |
| Asia | | 1,530 |
| | 4,128 |
| | 12,642 |
| Total | | $ | 50,072 |
| | $ | 55,880 |
| | $ | 63,625 |
| Depreciation and Amortization | | | | | | | Americas | | $ | 30,204 |
| | $ | 31,070 |
| | $ | 30,724 |
| EMEA | | 15,693 |
| | 16,337 |
| | 19,664 |
| Asia | | 8,048 |
| | 8,587 |
| | 6,652 |
| Total | | $ | 53,945 |
| | $ | 55,994 |
| | $ | 57,040 |
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| | (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, net to the reportable segments. |
The Company markets its products and services in over 100 countries. Sales are attributed to countries based on the location of sales order approval and acceptance. Sales to customers in the United States were 50.0%, 51.0% and 46.0% for fiscal years ended March 31, 2017, 2016 and 2015, respectively. Property, plant and equipment, net, attributable to the United States as of March 31, 2017 and 2016, were $156,828 and $149,348, respectively. No single country, outside the United States, accounted for more than 10% of the consolidated net sales or net property, plant and equipment and, therefore, was deemed not material for separate disclosure.
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