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Business Segments | 12 Months Ended
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Dec. 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 Crane business is a global provider of engineered lift solutions which designs, manufactures and markets a comprehensive line of lattice-boom crawler cranes, mobile telescopic cranes, tower cranes and boom trucks. The Crane products are used in a wide variety of applications, including energy, petrochemical and industrial projects, infrastructure development such as road, bridge and airport construction, and commercial and high-rise residential construction. Our crane-related product support services are principally marketed under the Manitowoc Crane Care brand name and include maintenance and repair services and parts supply. The Foodservice equipment business designs, manufactures and sells refrigeration, ice-making, cooking, holding, food-preparation, and beverage-dispensing equipment. Our suite of products is used by commercial and institutional foodservice operators such as full service restaurants, QSR chains, hotels, industrial caterers, supermarkets, convenience stores, hospitals, schools and other institutions. The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that certain expenses are not allocated to the segments. These unallocated expenses are corporate overhead, stock-based compensation expense, amortization expense of intangible assets with definite lives, goodwill impairment, intangible asset impairment, asset impairment expense, restructuring expense, and other non-operating expenses. The company evaluates segment performance based upon profit and loss before the aforementioned expenses. Financial information relating to the company’s reportable segments for the years ended December 31, 2014, 2013 and 2012 is as follows:
(in millions) |  | 2014 |  | 2013 |  | 2012
Net sales from continuing operations: |  |  |  |  |  |  |  |  |
Crane |  | $ | 2,305.2 |  |  | $ | 2,506.3 |  |  | $ | 2,427.1 |
Foodservice |  | 1,581.3 |  |  | 1,541.8 |  |  | 1,486.2 |
Total |  | $ | 3,886.5 |  |  | $ | 4,048.1 |  |  | $ | 3,913.3 |
Operating earnings (loss) from continuing operations: |  |  |  |  |  |  |  |  |
Crane |  | $ | 163.9 |  |  | $ | 218.8 |  |  | $ | 170.5 |
Foodservice |  | 234.0 |  |  | 250.3 |  |  | 238.6 |
Corporate |  | (53.4 | ) |  | (64.9 | ) |  | (63.7 | )
Asset impairment expense |  | (1.1 | ) |  | — |  |  | — |
Amortization expense |  | (35.1 | ) |  | (35.3 | ) |  | (36.5 | )
Restructuring expense |  | (9.0 | ) |  | (4.8 | ) |  | (9.5 | )
Other (expense) income |  | (0.5 | ) |  | 0.3 |  |  | (2.5 | )
Operating earnings from continuing operations |  | $ | 298.8 |  |  | $ | 364.4 |  |  | $ | 296.9 |
Other income (expense): |  |  |  |  |  |
Interest expense |  | $ | (94.0 | ) |  | $ | (128.4 | ) |  | $ | (135.6 | )
Amortization of deferred financing fees |  | (4.4 | ) |  | (7.0 | ) |  | (8.2 | )
Loss on debt extinguishment |  | (25.5 | ) |  | (3.0 | ) |  | (6.3 | )
Other (expense) income - net |  | (5.5 | ) |  | (0.8 | ) |  | 0.1 |
Earnings from continuing operations before taxes on earnings |  | $ | 169.4 |  |  | $ | 225.2 |  |  | $ | 146.9 |
Capital expenditures: |  |  |  |  |  |  |  |  |
Crane |  | $ | 57.3 |  |  | $ | 69.3 |  |  | $ | 52.7 |
Foodservice |  | 25.3 |  |  | 33.6 |  |  | 17.4 |
Corporate |  | 2.2 |  |  | 7.8 |  |  | 2.8 |
Total |  | $ | 84.8 |  |  | $ | 110.7 |  |  | $ | 72.9 |
Total depreciation: |  |  |  |  |  |  |  |  |
Crane |  | $ | 45.7 |  |  | $ | 46.9 |  |  | $ | 43.5 |
Foodservice |  | 21.2 |  |  | 20.1 |  |  | 22.3 |
Corporate |  | 1.5 |  |  | 1.5 |  |  | 2.3 |
Total |  | $ | 68.4 |  |  | $ | 68.5 |  |  | $ | 68.1 |
Total assets: |  |  |  |  |  |  |  |  |
Crane |  | $ | 1,742.3 |  |  | $ | 1,900.4 |  |  | $ | 1,903.3 |
Foodservice |  | 1,902.0 |  |  | 1,904.3 |  |  | 1,956.8 |
Corporate |  | 172.3 |  |  | 171.9 |  |  | 197.2 |
Total |  | $ | 3,816.6 |  |  | $ | 3,976.6 |  |  | $ | 4,057.3 |
Net sales are attributed to geographic regions based on location of customer. Net sales from continuing operations and long-lived asset information by geographic area as of and for the years ended December 31 are as follows:
|  | Net Sales |  | Long-Lived Assets
(in millions) |  | 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013
United States |  | $ | 1,977.4 |  |  | $ | 1,978.0 |  |  | $ | 1,833.0 |  |  | $ | 1,880.8 |  |  | $ | 1,888.4 |
Other North America |  | 238.3 |  |  | 292.1 |  |  | 278.2 |  |  | 12.4 |  |  | 13.6 |
Europe |  | 821.2 |  |  | 937.6 |  |  | 788.0 |  |  | 478.9 |  |  | 530.0 |
Asia |  | 377.6 |  |  | 364.5 |  |  | 354.0 |  |  | 189.7 |  |  | 203.0 |
Middle East |  | 223.2 |  |  | 174.2 |  |  | 161.6 |  |  | 1.5 |  |  | 1.6 |
Central and South America |  | 106.9 |  |  | 166.9 |  |  | 243.0 |  |  | 30.0 |  |  | 36.0 |
Africa |  | 56.7 |  |  | 30.0 |  |  | 110.8 |  |  | — |  |  | — |
South Pacific and Caribbean |  | 13.3 |  |  | 12.6 |  |  | 10.6 |  |  | 4.0 |  |  | 4.1 |
Australia |  | 71.9 |  |  | 92.2 |  |  | 134.1 |  |  | 3.0 |  |  | 4.7 |
Total |  | $ | 3,886.5 |  |  | $ | 4,048.1 |  |  | $ | 3,913.3 |  |  | $ | 2,600.3 |  |  | $ | 2,681.4 |
Net sales from continuing operations and long-lived asset information for Europe primarily relate to France, Germany and the United Kingdom.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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