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Business Segments

3 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company's three reportable segments, based on lines of business, are 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 quarter ended June 30, 2019 and July 1, 2018 is shown below:

		Quarter ended
		June 30, 2019				July 1, 2018
Net sales by segment to unaffiliated customers
Americas		$	517,110			$	392,574
EMEA		203,198				210,494
Asia		59,922				67,862
Total net sales		$	780,230			$	670,930
Net sales by product line
Reserve power		$	435,843			$	324,018
Motive power		344,387				346,912
Total net sales		$	780,230			$	670,930
Intersegment sales
Americas		$	8,565			$	5,858
EMEA		36,881				32,087
Asia		6,957				7,614
Total intersegment sales (1)		$	52,403			$	45,559
Operating earnings by segment
Americas		$	54,356			$	47,736
EMEA		15,711				17,203
Asia		641				1,505
Restructuring charges - Americas		(585		)		—
Restructuring and other exit charges - EMEA		(1,294		)		(1,192		)
Restructuring charges - Asia		(493		)		—
Inventory adjustment relating to exit activities - Asia		—				(526		)
Fixed asset write-off relating to exit activities - Asia		—				(547		)
Total operating earnings (2)		$	68,336			$	64,179

(1) The Company does not allocate interest expense or other (income) expense to the reportable segments.

(2) The Company does not allocate interest expense or other (income) expense to the reportable segments.

Goodwill

The changes in the carrying amount of goodwill by reportable segment during the first quarter of fiscal 2020 are as follows:

		Americas				EMEA				Asia				Total
Balance at March 31, 2019		$	470,194			$	143,269			$	42,936			$	656,399
Foreign currency translation adjustment		55				639				(669		)		25
Balance as of June 30, 2019		$	470,249			$	143,908			$	42,267			$	656,424

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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