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SEGMENT INFORMATION
 12 Months Ended
Feb. 28, 2015
Segment Information  
Segment Information

NOTE 21 - SEGMENT INFORMATION

 

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

 

SEGMENT INFORMATION

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare /

 

Nutritional

 

Personal

 

 

Fiscal Year 2015

    

Housewares

    

Home Environment

    

Supplements (1)

    

Care

    

Total

Sales revenue, net

 

$
296,252 

 

$
613,253 

 

$
100,395 

 

$
435,231 

 

$
1,445,131 

Asset impairment charges

 

 

 -

 

 

 -

 

 

 -

 

 
9,000 

 

 
9,000 

Operating income

 

 
59,392 

 

 
50,821 

 

 
9,512 

 

 
41,994 

 

 
161,719 

Identifiable assets

 

 
397,956 

 

 
683,533 

 

 
218,181 

 

 
354,085 

 

 
1,653,755 

Capital and intangible asset expenditures

 

 
2,019 

 

 
2,602 

 

 
613 

 

 
1,287 

 

 
6,521 

Depreciation and amortization

 

 
3,615 

 

 
20,532 

 

 
5,380 

 

 
10,126 

 

 
39,653 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare /

 

Nutritional

 

Personal

 

 

 

Fiscal Year 2014

    

Housewares

    

Home Environment

    

Supplements (1)

    

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

 

 
3,461 

 

 
19,318 

 

 

 -

 

 
11,060 

 

 
33,839 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Healthcare /

 

Nutritional

 

Personal

 

 

Fiscal Year 2013

    

Housewares

    

Home Environment

    

Supplements (1)

    

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

 

 
4,803 

 

 
16,614 

 

 

 -

 

 
13,008 

 

 
34,425 

(1)

The Nutritional Supplements segment includes eight months of operating results for fiscal year 2015. The segment was acquired on June 30, 2014.  Operating income includes acquisition-related expenditures of $3.61 million for fiscal year 2015.  For further information regarding the acquisition, see Note (6) to these consolidated financial statements.

 

We compute segment operating income 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 do not allocate nonoperating income and expense, including interest or income taxes, to operating segments. The operating income for the Nutritional Supplements segment does not include any allocation of shared service or corporate costs for fiscal year 2015.  As the new segment is further integrated into our operating structure, we expect to make an allocation of shared service and corporate costs to the segment in future fiscal years. When we decide such allocations are appropriate, there may be some reduction in the operating income of the Nutritional Supplements segment offset by increases in operating income of our other segments. The extent of this operating income impact between the segments has not yet been determined. 

 

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,

 

    

2015

    

2014

    

2013

SALES REVENUE, NET:

 

 

 

 

 

 

 

 

 

United States

 

$
1,139,959 

 

$
1,019,525 

 

$
1,014,354 

International

 

 
305,172 

 

 
297,628 

 

 
273,909 

Total

 

$
1,445,131 

 

$
1,317,153 

 

$
1,288,263 

 

 

 

 

 

 

 

 

 

 

LONG-LIVED ASSETS:

 

 

 

 

 

 

 

 

 

United States

 

$
636,089 

 

$
444,788 

 

$
515,411 

International:

 

 

 

 

 

 

 

 

 

Barbados

 

 
319,298 

 

 
324,399 

 

 
398,340 

Other international

 

 
133,608 

 

 
148,639 

 

 
15,048 

Subtotal

 

 
452,906 

 

 
473,038 

 

 
413,388 

Total

 

$
1,088,995 

 

$
917,826 

 

$
928,799 

 

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 18,  19 and 19 percent of our net sales revenue in fiscal years 2015,  2014 and 2013, respectively. Sales to this customer are made within the Personal Care and Healthcare / Home Environment segments. Of these sales, approximately 84,  92 and 91 percent were within the U.S. during fiscal years 2015,  2014 and 2013, respectively.

 

Sales to our second largest customer accounted for approximately 9,  11 and 11 percent of our net sales revenue in fiscal years ending 2015,  2014 and 2013, 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.