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Segment Information
 3 Months Ended
May 31, 2012
Segment Information  
Segment Information

Note 5 – Segment Information

 

The following tables contain segment information for the periods covered in the accompanying consolidated condensed statements of income:

 

THREE MONTHS ENDED MAY 31, 2012 AND 2011

(in thousands)

 

 

Personal

 

 

 

Healthcare / Home

 

 

 

May 31, 2012

 

Care

 

Housewares

 

Environment

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

117,552

 

$

60,249

 

$

122,410

 

$

300,211

 

Operating income

 

11,880

 

11,277

 

7,991

 

31,148

 

Capital and intangible asset expenditures

 

2,255

 

191

 

922

 

3,368

 

Depreciation and amortization

 

3,267

 

1,298

 

4,535

 

9,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare / Home

 

 

 

May 31, 2011

 

Care

 

Housewares

 

Environment

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

122,718

 

$

52,946

 

$

95,803

 

$

271,467

 

Operating income (loss)

 

19,852

 

10,865

 

(63

)

30,654

 

Capital and intangible asset expenditures

 

897

 

580

 

559

 

2,036

 

Depreciation and amortization

 

2,661

 

1,441

 

2,992

 

7,094

 

 

We compute operating income for each segment based on net sales revenue, less cost of goods sold, selling, general and administrative expense (“SG&A”), and any impairment charges associated with the segment. SG&A used to compute each segment’s operating income is directly associated with the segment, plus overhead expenses allocable to the segment.  We make allocations of overhead between operating segments using a number of relevant allocation criteria, depending on the nature of the expense, the most significant of which are relative revenues, estimates of relative labor expenditures, headcount, and facilities square footage.  In fiscal 2013, we began making certain additional cost allocations to the Healthcare / Home Environment segment that were not made in fiscal 2012.  These allocations are costs of corporate and operating functions that are shared by our segments.   We made this change because we now have a complete fiscal year’s operating experience with the Healthcare / Home Environment segment.  In the past year we have integrated certain of the segment’s corporate and operating functions that were redundant. For the three month period ended May 31, 2012, the allocation totaled $4.12 million compared to $1.50 million for the same period last year.  We do not allocate nonoperating income and expense, interest or income taxes to operating segments.