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SEGMENT INFORMATION
 12 Months Ended
Feb. 28, 2013
SEGMENT INFORMATION  
SEGMENT INFORMATION

NOTE 20 - SEGMENT INFORMATION

 

The following table contains segment information for fiscal years covered by our consolidated financial statements:

 

FISCAL YEARS ENDED 2013, 2012 AND 2011

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare /

 

 

2013

 

Care

 

Housewares

 

Home Environment

 

Total

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

 490,555

 

$

 259,042

 

$

 538,666

 

$

 1,288,263

Operating income

 

61,389

 

49,612

 

37,772

 

148,773

Identifiable assets

 

466,040

 

362,378

 

645,586

 

1,474,004

Capital, license, trademark, and other intangible expenditures

 

5,624

 

1,269

 

7,795

 

14,688

Depreciation and amortization

 

13,008

 

4,903

 

17,417

 

35,328

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare /

 

 

2012

 

Care

 

Housewares

 

Home Environment

 

Total

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

 496,605

 

$

 237,376

 

$

 447,695

 

$

 1,181,676

Operating income

 

62,152

 

44,884

 

32,350

 

139,386

Identifiable assets

 

454,309

 

362,045

 

619,369

 

1,435,723

Capital, license, trademark, and other intangible expenditures

 

10,228

 

1,781

 

4,042

 

16,051

Depreciation and amortization

 

11,004

 

6,672

 

12,502

 

30,178

 

 

 

 

 

 

 

 

 

 

 

Personal

 

 

 

Healthcare /

 

 

2011

 

Care

 

Housewares

 

Home Environment

 

Total

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

 491,215

 

$

 216,681

 

$

 69,147

 

$

 777,043

Operating income before impairments

 

63,368

 

46,017

 

4,520

 

113,905

Asset impairment charges

 

1,414

 

747

 

-    

 

2,161

Operating income

 

61,954

 

45,270

 

4,520

 

111,744

Identifiable assets

 

474,344

 

363,128

 

403,052

 

1,240,524

Capital, license, trademark, and other intangible expenditures

 

1,741

 

2,225

 

663

 

4,629

Depreciation and amortization

 

10,634

 

5,968

 

1,900

 

18,502

 

We compute operating income for each segment based on net sales revenue, less cost of goods sold, SG&A and any impairment charges associated with the segment. The SG&A used to compute each segment’s operating income is comprised of SG&A directly associated with the segment, plus overhead expenses that are 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 facility square footage.  The two months of the Healthcare / Home Environment segment’s operations included in our fiscal year 2011 consolidated statement of income did not include any allocation of corporate overhead.  In fiscal year 2012, we began making an allocation of corporate overhead to the Healthcare / Home Environment segment.  In fiscal year 2013, we began making certain additional cost allocations to the Healthcare / Home Environment segment that were not made in fiscal year 2012.  These additional allocations are costs of corporate and operating functions that are shared by our segments.  For fiscal years 2013 and 2012, these allocations totaled $16.69 and $6.02 million, respectively. We do not allocate other items of income and expense, including income taxes to operating segments.

 

Our domestic and international net sales revenue and long-lived assets for the years ended the last day of February are as follows:

 

GEOGRAPHIC INFORMATION

(in thousands)

 

 

 

 

 

 

 

Fiscal Years Ended the Last Day of February,

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

SALES REVENUE, NET:

 

 

 

 

 

 

 

United States

 

 

$

 1,014,354

 

$

 906,884

 

$

 619,378

International

 

 

273,909

 

274,812

 

157,665

Total

 

 

$

 1,288,263

 

$

 1,181,676

 

$

 777,043

 

 

 

 

 

 

 

 

LONG-LIVED ASSETS:

 

 

 

 

 

 

 

United States

 

 

$

 515,411

 

$

 525,537

 

$

 358,903

International:

 

 

 

 

 

 

 

Barbados

 

 

398,340

 

406,213

 

416,180

Other international

 

 

15,048

 

15,437

 

4,990

Subtotal

 

 

413,388

 

421,650

 

421,170

Total

 

 

$

 928,799

 

$

 947,187

 

$

 780,073

 

The table above classifies assets based upon the country where we hold legal title.

 

Worldwide sales to our largest customer and its affiliates accounted for approximately 19, 20 and 17 percent of our net sales revenue in fiscal years 2013, 2012 and 2011, respectively.  Sales to this customer are made within the Personal Care and Healthcare / Home Environment segments. Of these sales, approximately 91, 93 and 91 percent were within the U.S. during fiscal year 2013, 2012 and 2011, respectively.

 

Sales to our second largest customer, all within the United States, accounted for approximately 11, 11 and 10 percent of our net sales revenue in fiscal year 2013, 2012 and 2011, respectively.  Sales to this customer are made across all segments. No other customers accounted for 10 percent or more of net sales revenue during those fiscal years.