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Reportable Segments
12 Months Ended
Feb. 23, 2018
Segment Reporting [Abstract]  
Reportable Segments
REPORTABLE SEGMENTS
Our reportable segments consist of the Americas segment, the EMEA segment and the Other category. Unallocated corporate expenses are reported as Corporate.
The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a portfolio of integrated architecture, furniture and technology products marketed to corporate, government, healthcare, education and retail customers through the Steelcase, Coalesse, Turnstone and AMQ brands.
The EMEA segment serves customers in Europe, the Middle East and Africa primarily under the Steelcase and Coalesse brands, with an emphasis on freestanding furniture systems, storage and seating solutions.
The Other category includes Asia Pacific, Designtex and PolyVision. Asia Pacific serves customers in Asia and Australia primarily under the Steelcase brand with an emphasis on freestanding furniture systems, seating and storage solutions. Designtex primarily sells textiles, wall coverings and surface imaging solutions specified by architects and designers directly to end-use customers through a direct sales force primarily in North America. PolyVision manufactures ceramic steel surfaces for use in various applications globally, including static whiteboards and chalkboards sold through third party fabricators and distributors to the primary and secondary education markets and architectural panels and other special applications sold through general contractors for commercial and infrastructure projects.
We primarily review and evaluate operating income by segment in both our internal review processes and for external financial reporting. We also allocate resources primarily based on operating income. Total assets by segment include manufacturing and other assets associated with each segment.
Corporate costs include unallocated portions of shared service functions such as information technology, corporate facilities, finance, human resources, research, legal and customer aviation. Corporate assets consist primarily of unallocated cash, short term investment balances and COLI balances.
No single customer represented more than 5% of our consolidated revenue in 2018, 2017 or 2016.
Operating Segment Data
Americas  
EMEA
Other
Corporate
Consolidated  
2018
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,193.8

 
$
524.2

 
$
337.5

 
$

 
$
3,055.5

 
Operating income (loss)
187.0

 
(14.0
)
 
18.4

 
(35.4
)
 
156.0

 
Total assets
943.2

 
300.3

 
209.1

 
406.6

 
1,859.2

 
Capital expenditures
46.2

 
31.7

 
10.0

 

 
87.9

 
Depreciation & amortization
46.2

 
14.7

 
5.0

 

 
65.9

 
2017
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,231.9

 
$
503.9

 
$
296.6

 
$

 
$
3,032.4

 
Operating income (loss)
245.2

 
(20.9
)
 
13.0

 
(37.1
)
 
200.2

 
Total assets
960.7

 
297.4

 
191.1

 
342.8

 
1,792.0

 
Capital expenditures
35.9

 
20.6

 
4.6

 

 
61.1

 
Depreciation & amortization
42.7

 
12.7

 
4.9

 

 
60.3

 
2016
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,256.0

 
$
520.6

 
$
283.4

 
$

 
$
3,060.0

 
Operating income (loss)
265.2

 
(64.3
)
 
11.2

 
(37.5
)
 
174.6

 
Total assets
981.1

 
332.6

 
179.9

 
315.0

 
1,808.6

 
Capital expenditures
71.2

 
14.7

 
7.5

 

 
93.4

 
Depreciation & amortization
48.5

 
11.7

 
5.5

 

 
65.7

 

The accounting policies of each of the reportable segments are the same as those described in Note 2. Revenue comparisons have been impacted by divestitures and deconsolidations along with currency translation effects. In addition, operating income (loss) has been impacted by restructuring costs. See Note 20 for additional information.
Reportable geographic information is as follows:
Reportable Geographic Data
Year Ended
February 23,
2018
February 24,
2017
February 26,
2016
Revenue:
 
 
 
 
 
 
United States
$
2,039.6

 
$
2,104.4

 
$
2,152.7

 
Foreign locations
1,015.9

 
928.0

 
907.3

 
 
$
3,055.5

 
$
3,032.4

 
$
3,060.0

 
Long-lived assets:
 
 
 
 
 
 
United States
$
689.7

 
$
655.8

 
$
633.8

 
Foreign locations
174.3

 
130.8

 
127.8

 
 
$
864.0

 
$
786.6

 
$
761.6

 

 
Revenue is attributable to countries based on the location of the customer. No country other than the U.S. represented greater than 10% of our consolidated revenue or long-lived assets in 2018, 2017 or 2016. Our EMEA business is spread across a number of geographic regions, with Western Europe representing approximately 85% of EMEA revenue in 2018.
Our global product offerings consist of furniture, interior architecture, technology and services. These product offerings are marketed, distributed and managed primarily as a group of similar products on an overall portfolio basis. The following is a summary of revenue by product category. As product line information is not readily available for the Company as a whole, this summary represents a reasonable estimate of revenue by product category based on the best information available:
Product Category Data
Year Ended
February 23,
2018
February 24,
2017
February 26,
2016
Systems and storage
$
1,402.0

 
$
1,428.2

 
$
1,533.4

 
Seating
919.2

 
917.8

 
938.9

 
Other (1)
734.3

 
686.4

 
587.7

 
Total
$
3,055.5

 
$
3,032.4

 
$
3,060.0

 
________________________
(1)
Other consists primarily of consolidated dealers, textiles and surface materials, worktools, architecture, technology, other uncategorized product lines and services, none of which are individually greater than 10% of consolidated revenue.