XML 87 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segments
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Business Segments
Business Segments 
The company identifies its segments using the “management approach,” which designates the internal organization that is used by management for making operating decisions and assessing performance as the source of the company’s reportable segments.  The company has two reportable segments: Crane and Foodservice.  Net sales and earnings from operations by segment are summarized as follows:
 
 
Three Months Ended
March 31,
(in millions)
 
2014
 
2013
Net sales:
 
 

 
 

Crane
 
$
466.7

 
$
544.0

Foodservice
 
383.3

 
350.6

Total net sales
 
$
850.0

 
$
894.6

Earnings (loss) from continuing operations:
 
 

 
 

Crane
 
$
22.6

 
$
34.9

Foodservice
 
57.9

 
49.1

Corporate expense
 
(16.1
)
 
(18.5
)
Amortization expense
 
(8.8
)
 
(9.0
)
Restructuring expense
 
(2.0
)
 
(0.3
)
Other
 
—

 
(0.3
)
Earnings from continuing operations
 
$
53.6

 
$
55.9

Other income (expenses):
 
 
 
 
Interest expense
 
$
(19.3
)
 
$
(33.0
)
Amortization of deferred financing fees
 
(1.2
)
 
(1.8
)
Loss on debt extinguishment
 
(25.3
)
 
(0.4
)
Other income (expense)-net
 
0.8

 
1.6

Earnings from continuing operations before taxes on earnings
 
$
8.6

 
$
22.3



As of March 31, 2014 and December 31, 2013, the total assets by segment were as follows:
(in millions)
 
March 31, 2014
 
December 31, 2013
Crane
 
$
1,985.2

 
$
1,900.4

Foodservice
 
1,962.8

 
1,904.3

Corporate
 
170.7

 
171.9

Total
 
$
4,118.7

 
$
3,976.6