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SEGMENT INFORMATION
 12 Months Ended
Feb. 28, 2014
SEGMENT INFORMATION  
SEGMENT INFORMATION

NOTE 20 – SEGMENT INFORMATION

 

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

 

SEGMENT INFORMATION

(in thousands)

 

 

 

 

Healthcare /

 

Personal

 

 

 

Fiscal Year 2014

 

Housewares

 

Home Environment

 

Care

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

274,478

 

  $

568,075

 

$

474,600

 

$

1,317,153

 

Asset impairment charges

 

-

 

-

 

12,049

 

12,049

 

Operating income

 

50,828

 

20,764

 

45,508

 

117,100

 

Identifiable assets

 

369,698

 

676,131

 

487,473

 

1,533,302

 

Capital and intangible asset expenditures

 

851

 

22,934

 

16,678

 

40,463

 

Depreciation and amortization

 

3,539

 

20,152

 

11,059

 

34,750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare /

 

Personal

 

 

 

Fiscal Year 2013

 

Housewares

 

Home Environment

 

Care

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

259,042

 

  $

538,666

 

$

490,555

 

$

1,288,263

 

Operating income

 

49,612

 

37,772

 

61,389

 

148,773

 

Identifiable assets

 

362,378

 

645,586

 

466,040

 

1,474,004

 

Capital and intangible asset expenditures

 

1,269

 

7,795

 

5,624

 

14,688

 

Depreciation and amortization

 

4,903

 

17,417

 

13,008

 

35,328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare /

 

Personal

 

 

 

Fiscal Year 2012

 

Housewares

 

Home Environment

 

Care

 

Total

 

 

 

 

 

 

 

 

 

 

 

Sales revenue, net

 

$

237,376

 

  $

447,695

 

$

496,605

 

$

1,181,676

 

Operating income

 

44,884

 

32,350

 

62,152

 

139,386

 

Identifiable assets

 

362,045

 

619,369

 

454,309

 

1,435,723

 

Capital and intangible asset expenditures

 

1,781

 

4,042

 

10,228

 

16,051

 

Depreciation and amortization

 

6,672

 

12,502

 

11,004

 

30,178

 

 

We compute operating income for each segment based on net sales revenue, less cost of goods sold, SG&A, and any asset impairment charges associated with the segment. The SG&A used to compute each segment’s operating income is 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. We do not allocate nonoperating income and expense, including interest or income taxes to operating segments.

 

In fiscal year 2012, we began making an allocation of corporate overhead to the Healthcare / Home Environment

segment. In fiscal years 2014 and 2013, we made certain additional cost allocations to the Healthcare / Home Environment segment that were not made in fiscal year 2012 due to continued operational and system integration. These additional allocations are costs of corporate and operating functions that are shared by our segments. For fiscal years 2014, 2013 and 2012, allocations totaled $28.44, $16.69 and $6.02 million, respectively.

 

Our domestic and international net sales revenue and long-lived assets were as follows:

 

GEOGRAPHIC INFORMATION

(in thousands)

 

 

Fiscal Years Ended the Last Day of February,

 

 

 

2014

 

2013

 

2012

 

 

 

 

 

 

 

 

 

SALES REVENUE, NET:

 

 

 

 

 

 

 

United States

 

  $

1,019,525

 

$

1,014,354

 

$

906,884

 

International

 

297,628

 

273,909

 

274,812

 

Total

 

  $

1,317,153

 

$

1,288,263

 

$

1,181,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LONG-LIVED ASSETS:

 

 

 

 

 

 

 

United States

 

  $

444,788

 

$

515,411

 

$

525,537

 

International:

 

 

 

 

 

 

 

Barbados

 

324,399

 

398,340

 

406,213

 

Other international

 

148,639

 

15,048

 

15,437

 

Subtotal

 

473,038

 

413,388

 

421,650

 

Total

 

  $

917,826

 

$

928,799

 

$

947,187

 

 

 

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, 19 and 20 percent of our net sales revenue in fiscal years 2014, 2013 and 2012, respectively. Sales to this customer are made within the Personal Care and Healthcare / Home Environment segments. Of these sales, approximately 92, 91 and 93 percent were within the U.S. during fiscal years 2014, 2013 and 2012, respectively.

 

Sales to our second largest customer accounted for approximately 11 percent of our net sales revenue in each of the fiscal years ending 2014, 2013 and 2012, respectively. Sales to this customer are made across all segments, primarily within the United States and Canada. No other customers accounted for 10 percent or more of net sales revenue during those fiscal years.