Segment Information (Tables)
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12 Months Ended |
Dec. 31, 2015 |
| Segment Reporting [Abstract] |
|
| Schedule of Segment Information |
The accounting policies of the reportable segments are the same
as those described in Note 1 of the Notes to the Consolidated
Financial Statements.
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(In millions)
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Chlorovinyls |
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Building
Products |
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Eliminations,
Unallocated
and Other |
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Total |
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|
Year Ended December 31, 2015
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Net sales
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$ |
2,506.1 |
|
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$ |
690.9 |
|
|
$ |
— |
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$ |
3,197.0 |
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Intersegment revenues
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|
214.0 |
|
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|
— |
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|
(214.0 |
) |
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— |
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Total net sales
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$ |
2,720.1 |
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|
690.9 |
|
|
|
(214.0 |
) |
|
$ |
3,197.0 |
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Restructuring and divestiture costs
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|
$ |
0.3 |
|
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|
9.3 |
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|
12.8 |
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|
$ |
22.4 |
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Integration-related costs and other, net
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|
$ |
0.3 |
|
|
$ |
0.6 |
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$ |
15.1 |
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|
$ |
16.0 |
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Goodwill impairment charges
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$ |
864.1 |
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|
— |
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|
— |
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$ |
864.1 |
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Depreciation and amortization
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|
$ |
205.8 |
|
|
|
23.0 |
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|
10.8 |
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|
$ |
239.6 |
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|
|
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Operating income (loss)
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|
$ |
(768.5 |
) |
|
|
38.0 |
|
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|
(77.4 |
)(1) |
|
$ |
(807.9 |
) |
|
Interest expense, net
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(72.9 |
) |
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Debt refinancing costs
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(3.2 |
) |
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Foreign exchange loss
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(2.3 |
) |
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Loss from continuing operations before income taxes
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$ |
(886.3 |
) |
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Capital expenditures
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$ |
144.0 |
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|
19.9 |
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|
28.0 |
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$ |
191.9 |
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Total assets
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$ |
3,909.4 |
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|
557.7 |
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|
72.3 |
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$ |
4,539.4 |
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Year Ended December 31, 2014
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Net sales
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$ |
2,930.2 |
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$ |
712.3 |
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$ |
— |
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|
$ |
3,642.5 |
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Intersegment revenues
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|
256.0 |
|
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|
— |
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|
(256.0 |
) |
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— |
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Total net sales
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$ |
3,186.2 |
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|
712.3 |
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(256.0 |
) |
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$ |
3,642.5 |
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Restructuring and divestiture costs
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$ |
12.6 |
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|
4.2 |
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(0.1 |
) |
|
$ |
16.7 |
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Integration-related costs and other, net
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|
$ |
6.2 |
|
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|
— |
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|
26.0 |
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$ |
32.2 |
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Goodwill impairment charges
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|
$ |
4.1 |
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— |
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— |
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$ |
4.1 |
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Depreciation and amortization
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|
$ |
200.3 |
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|
21.9 |
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|
9.7 |
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$ |
231.9 |
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Operating income
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$ |
213.9 |
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|
37.7 |
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(84.9 |
)(1) |
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$ |
166.7 |
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Interest expense, net
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|
(71.0 |
) |
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Foreign exchange loss
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(1.0 |
) |
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Income from continuing operations before income taxes
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$ |
94.7 |
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Capital expenditures
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$ |
148.9 |
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|
31.2 |
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|
13.0 |
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$ |
193.1 |
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Total assets
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$ |
4,872.0 |
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|
581.3 |
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|
202.7 |
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$ |
5,656.0 |
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Year Ended December 31, 2013
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Net sales
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$ |
2,917.3 |
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$ |
667.8 |
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$ |
— |
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$ |
3,585.1 |
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Intersegment revenues
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|
$ |
226.2 |
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|
0.1 |
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(226.3 |
) |
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$ |
— |
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Total net sales
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$ |
3,143.5 |
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|
667.9 |
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(226.3 |
) |
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$ |
3,585.1 |
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Restructuring and divestiture costs
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$ |
(0.1 |
) |
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|
2.8 |
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|
7.3 |
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$ |
10.0 |
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Integration-related costs and other, net
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$ |
(8.8 |
) |
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|
— |
|
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|
41.4 |
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$ |
32.6 |
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Depreciation and amortization
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|
$ |
174.2 |
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|
21.2 |
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|
6.9 |
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$ |
202.3 |
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Operating income
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$ |
434.9 |
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|
47.0 |
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(96.2 |
)(1) |
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$ |
385.7 |
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Interest expense, net
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(71.5 |
) |
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Debt refinancing costs
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(78.5 |
) |
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Gain on acquisition of controlling interest
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25.9 |
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Foreign exchange loss
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(0.2 |
) |
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Income from continuing operations before income taxes
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$ |
261.4 |
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Capital expenditures
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$ |
132.7 |
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33.3 |
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|
11.9 |
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$ |
177.9 |
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Total assets
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$ |
5,074.0 |
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|
577.8 |
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|
205.3 |
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$ |
5,857.1 |
|
| (1) |
Includes shared services,
administrative and legal expenses. |
|
| Schedule of Sales by Product Line |
The table below summarizes net sales by product line for the years
ended December 31, 2015, 2014 and 2013:
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Year Ended December 31, |
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(In millions)
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2015 |
|
|
2014 |
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|
2013 |
|
|
Chlorovinyls
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|
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Chlor-alkali and derivative products
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$ |
2,056.3 |
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$ |
2,435.3 |
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$ |
2,447.2 |
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Compound products
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|
449.8 |
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|
494.9 |
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470.1 |
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Total
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2,506.1 |
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2,930.2 |
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2,917.3 |
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Building Products
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Moulding products
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|
148.8 |
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148.2 |
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132.3 |
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Outdoor building products
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|
542.1 |
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564.1 |
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535.5 |
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Total
|
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|
690.9 |
|
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|
712.3 |
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|
667.8 |
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Net Sales
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$ |
3,197.0 |
|
|
$ |
3,642.5 |
|
|
$ |
3,585.1 |
|
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| Schedule of Sales Attributable to Geographic Areas Based on Customer Location |
Sales are attributable to geographic areas based on customer
location and were as follows for the years ended December 31,
2015, 2014 and 2013:
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| |
|
Year Ended December 31, |
|
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(In millions)
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
Net sales:
|
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|
|
|
|
|
|
|
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|
United States
|
|
$ |
2,699.4 |
|
|
$ |
3,077.8 |
|
|
$ |
3,054.1 |
|
|
Non-U.S.
|
|
|
497.6 |
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|
564.7 |
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|
531.0 |
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|
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|
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Net Sales
|
|
$ |
3,197.0 |
|
|
$ |
3,642.5 |
|
|
$ |
3,585.1 |
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| Schedule of Long-Lived Assets, Excluding Intangible Assets, Property, Plant and Equipment by Geographic Areas |
As of December 31, 2015 and 2014, our long-lived assets,
excluding intangible assets, by geographic areas were as
follows:
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| |
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December 31, |
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(In millions)
|
|
2015 |
|
|
2014 |
|
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Long-lived assets (excluding intangible assets):
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|
United States
|
|
$ |
1,369.0 |
|
|
$ |
1,330.3 |
|
|
Non-U.S.
|
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|
187.5 |
|
|
|
232.1 |
|
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|
|
|
|
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Total
|
|
$ |
1,556.5 |
|
|
$ |
1,562.4 |
|
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|
| Schedule of Net Assets by Geographic Locations |
Net assets are attributable to geographic areas based on the
location of the legal entity. Net assets by geographic locations as
of December 31, 2015 and 2014 were as follows:
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|
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| |
|
December 31, |
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|
(In millions)
|
|
2015 |
|
|
2014 |
|
|
Net assets:
|
|
|
|
|
|
|
|
|
|
United States
|
|
$ |
1,432.9 |
|
|
$ |
2,255.2 |
|
|
Non-U.S.
|
|
|
220.2 |
|
|
|
333.8 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,653.1 |
|
|
$ |
2,589.0 |
|
|
|
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|