XML 40 R22.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Information | 12 Months Ended
--- | ---
Sep. 30, 2017
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Segment Information Our operations consist of two business segments: Infrastructure (previously referred to as “Mueller Co.”) and Technologies (previously referred to as “Mueller Technologies”). These segments are organized primarily based on products sold and customers served and are consistent with how the segments are managed, how resources are allocated and how information is used by the chief operating decision maker. Infrastructure manufactures valves for water and gas systems including butterfly, iron gate, tapping, check, knife, plug, automatic control and ball valves and dry-barrel and wet-barrel fire hydrants. Technologies offers metering, leak detection, pipe condition assessment and other products and services for the water infrastructure industry. Segment results are not reflective of their results on a stand-alone basis. Intersegment sales and transfers are made at selling prices generally intended to cover costs. Infrastructure personnel provide certain administrative services, including management of accounts payable and accounts receivable, without any allocation of cost to Technologies. We do not believe the costs of such administrative services are material to the segments’ results. The determination of segment results excludes certain corporate expenses designated as Corporate because they are not directly attributable to segment operations. Interest expense, loss on early extinguishment of debt and income taxes are not allocated to the segments. Corporate expenses include those costs incurred by our corporate function, such as accounting, treasury, risk management, human resources, legal, tax and other administrative functions and also costs associated with assets and liabilities retained following the sales of U.S. Pipe and Anvil. Corporate assets principally consist of our cash, Anvil assets held for sale at September 30, 2017 and certain real property previously owned by U.S. Pipe and Anvil. Business segment assets consist primarily of receivables, inventories, property, plant and equipment, intangible assets and other noncurrent assets. Geographical area information is presented below.
| United States |  | Canada |  | Other |  | Total
| (in millions)
Net sales: |  |  |  |  |  |  |
2018 | $ | 812.2 |  |  | $ | 71.7 |  |  | $ | 32.1 |  |  | $ | 916.0 |
2017 | 732.0 |  |  | 62.3 |  |  | 31.7 |  |  | 826.0 |
2016 | 716.5 |  |  | 57.1 |  |  | 27.0 |  |  | 800.6 |
Property, plant and equipment, net: |  |  |  |  |  |  |
September 30, 2018 | $ | 144.8 |  |  | $ | 3.4 |  |  | $ | 2.7 |  |  | $ | 150.9 |
September 30, 2017 | 116.1 |  |  | 3.0 |  |  | 3.2 |  |  | 122.3 |
Approximately 54% of our 2018 gross sales were to our 10 largest customers, and approximately 34% of our 2018 gross sales were to our two largest customers, Ferguson Enterprises, Inc. (“Ferguson Enterprises”) and Core & Main LP. (“Core & Main)”). Sales to Ferguson Enterprises comprised approximately 19%, 18% and 17% of our total gross sales during 2018, 2017 and 2016, respectively. In 2018, Ferguson Enterprises accounted for approximately 18% and 28% of gross sales for Infrastructure and Technologies, respectively. Receivables from Ferguson Enterprises totaled $29.7 million and $20.0 million at September 30, 2018 and 2017, respectively. Sales to Core & Main comprised approximately 15%, 16% and 16% of our total gross sales during 2018, 2017, and 2016, respectively. In 2018, Core & Main accounted for approximately 17% of gross sales for Infrastructure. Receivables from Core & Main totaled $31.7 million and $27.3 million at September 30, 2018 and 2017, respectively. Summarized financial information for our segments is presented below.
| Infrastructure |  | Technologies |  | Corporate |  | Total
| (in millions)
Net sales, excluding intercompany: |  |  |  |  |  |  |
2018 | $ | 818.8 |  |  | $ | 97.2 |  |  | $ | — |  |  | $ | 916.0 |
2017 | 739.9 |  |  | 86.1 |  |  | — |  |  | 826.0 |
2016 | 715.7 |  |  | 84.9 |  |  | — |  |  | 800.6 |
Intercompany sales: |  |  |  |  |  |  |
2018 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2017 | — |  |  | — |  |  | — |  |  | — |
2016 | 5.8 |  |  | — |  |  | — |  |  | 5.8 |
Operating income (loss): |  |  |  |  |  |  |
2018 | $ | 180.1 |  |  | $ | (24.4 | ) |  | $ | (34.0 | ) |  | $ | 121.7 |
2017 | 163.8 |  |  | (20.3 | ) |  | (41.4 | ) |  | 102.1 |
2016 | 162.5 |  |  | (11.1 | ) |  | (39.2 | ) |  | 112.2 |
Depreciation and amortization: |  |  |  |  |  |  |
2018 | $ | 37.4 |  |  | $ | 6.1 |  |  | $ | 0.2 |  |  | $ | 43.7 |
2017 | 36.3 |  |  | 5.2 |  |  | 0.4 |  |  | 41.9 |
2016 | 34.2 |  |  | 4.8 |  |  | 0.5 |  |  | 39.5 |
Total pension settlement and other charges: |  |  |  |  |  |  |
2018 | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 10.3 |  |  | $ | 10.5 |
2017 | 2.7 |  |  | 0.7 |  |  | 7.0 |  |  | 10.4 |
2016 | 1.0 |  |  | 0.9 |  |  | 5.8 |  |  | 7.7 |
Capital expenditures: |  |  |  |  |  |  |
2018 | $ | 47.3 |  |  | $ | 8.3 |  |  | $ | 0.1 |  |  | $ | 55.7 |
2017 | 28.5 |  |  | 11.4 |  |  | 0.7 |  |  | 40.6 |
2016 | 24.3 |  |  | 7.0 |  |  | 0.2 |  |  | 31.5 |
Total assets: |  |  |  |  |  |  |
September 30, 2018 | $ | 843.9 |  |  | $ | 87.1 |  |  | $ | 360.9 |  |  | $ | 1,291.9 |
September 30, 2017 | 792.6 |  |  | 88.4 |  |  | 377.3 |  |  | 1,258.3 |
Intangible assets, net: |  |  |  |  |  |  |
September 30, 2018 | $ | 396.9 |  |  | $ | 23.3 |  |  | $ | — |  |  | $ | 420.2 |
September 30, 2017 | 417.2 |  |  | 22.1 |  |  | — |  |  | 439.3 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration