| Segment Information |
Segment Information The Company’s reportable segments are as follows: | | | | | | Segment | | Key Brands | | Description of Primary Products | Writing | | Sharpie®, Paper Mate®, Expo®, Parker®, Waterman®, Dymo® Office, Endicia® | | Writing instruments, including markers and highlighters, pens and pencils; art products; fine writing instruments; office technology solutions, including labeling and on-line postage solutions | Home Solutions | | Rubbermaid®, Calphalon®, Levolor®, Goody® | | Indoor/outdoor organization, food storage and home storage products; gourmet cookware, bakeware and cutlery; drapery hardware and window treatments; hair care accessories | Tools | | Irwin®, Lenox®, hilmor™, Dymo® Industrial, | | Hand tools and power tool accessories; industrial bandsaw blades; tools for pipes and HVAC systems; label makers for industrial use | Commercial Products | | Rubbermaid Commercial Products®, Rubbermaid® Healthcare | | Cleaning and refuse products, hygiene systems, material handling solutions; medical and computer carts and wall-mounted workstations | Baby & Parenting | | Graco®, Aprica®, Teutonia® | | Infant and juvenile products such as car seats, strollers, highchairs and playards |
The Company’s segment and geographic results are as follows for the periods indicated (in millions): | | | | | | | | | | Three Months Ended | | March 31, | | 2014 | | 2013 | Net Sales (1) | | | | Writing | $ | 361.3 |
| | $ | 340.6 |
| Home Solutions | 321.2 |
| | 338.9 |
| Tools | 187.8 |
| | 188.6 |
| Commercial Products | 182.6 |
| | 183.1 |
| Baby & Parenting | 179.3 |
| | 189.6 |
| | $ | 1,232.2 |
| | $ | 1,240.8 |
| Operating Income (Loss) (2) | | | | Writing | $ | 77.1 |
| | $ | 63.2 |
| Home Solutions | 26.3 |
| | 34.1 |
| Tools | 21.4 |
| | 18.7 |
| Commercial Products | 13.8 |
| | 21.6 |
| Baby & Parenting | 5.4 |
| | 23.9 |
| Restructuring costs | (12.0 | ) | | (34.4 | ) | Corporate | (26.8 | ) | | (29.3 | ) | | $ | 105.2 |
| | $ | 97.8 |
|
| | | | | | | | | | March 31, 2014 | | December 31, 2013 | Identifiable Assets | | | | Writing | $ | 918.6 |
| | $ | 931.2 |
| Home Solutions | 554.7 |
| | 559.4 |
| Tools | 614.0 |
| | 595.7 |
| Commercial Products | 336.8 |
| | 343.3 |
| Baby & Parenting | 305.3 |
| | 321.9 |
| Corporate (3) | 3,264.5 |
| | 3,318.2 |
| | $ | 5,993.9 |
| | $ | 6,069.7 |
|
Geographic Area Information | | | | | | | | | | Three Months Ended | | March 31, | (in millions) | 2014 | | 2013 | Net Sales (1), (4) | | | | United States | $ | 831.2 |
| | $ | 818.9 |
| Canada | 53.0 |
| | 61.8 |
| Total North America | 884.2 |
| | 880.7 |
| Europe, Middle East and Africa | 164.2 |
| | 167.1 |
| Latin America | 92.0 |
| | 93.2 |
| Asia Pacific | 91.8 |
| | 99.8 |
| Total International | 348.0 |
| | 360.1 |
| | $ | 1,232.2 |
| | $ | 1,240.8 |
| Operating Income (Loss) (2), (5) | | | | United States | $ | 65.9 |
| | $ | 81.0 |
| Canada | 10.4 |
| | 10.2 |
| Total North America | 76.3 |
| | 91.2 |
| Europe, Middle East and Africa | 15.1 |
| | (14.8 | ) | Latin America | 10.8 |
| | 7.3 |
| Asia Pacific | 3.0 |
| | 14.1 |
| Total International | 28.9 |
| | 6.6 |
| | $ | 105.2 |
| | $ | 97.8 |
|
| | (1) | All intercompany transactions have been eliminated. Sales to Wal-Mart Stores, Inc. and subsidiaries amounted to approximately 9.9% and 9.6% of consolidated net sales in the three months ended March 31, 2014 and 2013, respectively. |
| | (2) | Operating income (loss) by segment is net sales less cost of products sold and selling, general & administrative (“SG&A”) expenses for continuing operations. Operating income by geographic area is net sales less cost of products sold, SG&A expenses, restructuring costs and impairment charges, if any, for continuing operations. Certain headquarters expenses of an operational nature are allocated to business segments and geographic areas primarily on a net sales basis. Depreciation and amortization is allocated to the segments on a percentage of sales basis, and the allocated depreciation and amortization is included in segment operating income. |
| | (3) | Corporate assets primarily include goodwill, capitalized software, cash and deferred tax assets. |
| | (4) | Geographic sales information is based on the region from which the products are shipped and invoiced. |
| | (5) | The following table summarizes the restructuring costs by region included in operating income (loss) above (in millions): |
| | | | | | | | | | Three Months Ended | | March 31, | | 2014 | | 2013 | Restructuring Costs | | | | United States | $ | 7.9 |
| | $ | 5.7 |
| Canada | 0.1 |
| | — |
| Total North America | 8.0 |
| | 5.7 |
| Europe, Middle East and Africa | 2.8 |
| | 26.2 |
| Latin America | 0.1 |
| | 2.5 |
| Asia Pacific | 1.1 |
| | — |
| Total International | 4.0 |
| | 28.7 |
| | $ | 12.0 |
| | $ | 34.4 |
|
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