(4) Segments

During the fourth quarter of 2012, we began to operate under three new business divisions for our segment reporting structure. This new structure replaced our legacy seven business unit structure. We also refer to our new segment reporting structure as “divisions”. The changes to our segment reporting structure did not have any impact on the historical consolidated results of operations of the Company. Prior period segment results have been revised to the new segment presentation.

We report our segment information in accordance with the provisions of FASB ASU Topic 280, “Segment Reporting.” Our segment reporting corresponds with management’s current approach of allocating resources and assessing the performance of our segments. Our segments are aligned with groups of similar products.

In the third quarter of 2013, we renamed our global business divisions under our segment reporting structure, which did not have any impact to the reportable segment results. The following are the changes to the names of our three global business divisions:

•

Food Care, which was previously named Food & Beverage;

•

Diversey Care, which was previously named Institutional & Laundry; and

•

Product Care, which was previously named Protective Packaging.

The following table shows net sales, depreciation and amortization and operating profit by our segment reporting structure:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2013		2012			2013			2012
Net sales
Food Care	$	950.5	$	935.5		$	2,799.5		$	2,753.2
Diversey Care		531.9		527.2			1,614.6			1,597.9
Product Care		402.7		388.9			1,183.6			1,171.0
Other Category		50.8		48.7			152.5			148.2

Total	$	1,935.9	$	1,900.3		$	5,750.2		$	5,670.3

Depreciation and amortization⁽¹⁾
Food Care	$	30.6	$	34.9		$	96.6		$	112.8
Diversey Care		31.1		32.6			97.4			95.7
Product Care		9.5		10.4			29.9			29.6
Other Category		2.3		4.2			12.7			9.7

Total	$	73.5	$	82.1		$	236.6		$	247.8

Operating profit (loss)
Food Care	$	115.3	$	(228.0	)	$	311.8		$	(75.9	)
Diversey Care		18.1		(976.2	)		46.8			(956.0	)
Product Care		52.9		53.0			143.6			150.6
Other Category		3.4		(1.7	)		(1.2	)		(3.3	)

Total segments and other		189.7		(1,152.9	)		501.0			(884.6	)
Costs related to the acquisition and integration of Diversey		0.3		1.3			0.8			4.8
Restructuring and other charges⁽²⁾		49.5		36.8			61.2			110.1

Total	$	139.9	$	(1,191.0	)	$	439.0		$	(999.5	)

(1)

Includes depreciation and amortization of $68.1 million in the three months ended September 30, 2013, $75.4 million in the three months ended September 30, 2012, $216.3 million in the nine months ended September 30, 2013 and $230.9 million in the nine months ended September 30, 2012, and amortization of share-based incentive compensation expense of $5.4 million in the three months ended September 30, 2013, $6.6 million in the three months ended September 30, 2012, $20.3 million in the nine months ended September 30, 2013 and $16.9 million in the nine months ended September 30, 2012.

(2)	Restructuring and other charges by our segment reporting structure were as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Food Care	$	16.4	$	26.6	$	19.1	$	82.3
Diversey Care		21.4		6.5		26.3		14.1
Product Care		10.4		1.4		14.5		11.0
Other Category		1.3		2.3		1.3		2.7

Total	$	49.5	$	36.8		61.2	$	110.1

The restructuring and other charges in 2013 primarily relate to our previously announced 2013 Earnings Quality Improvement Program (EQIP). See Note 9, “Restructuring Activities.”

Allocation of Goodwill to Reportable Segments

Our management views goodwill and identifiable intangible assets as a corporate asset, so we do not allocate their balances to the reportable segments. However, we are required to allocate their balances to each reporting unit to perform our annual impairment review of goodwill. See Note 7, “Goodwill and Identifiable Intangible Assets,” for the allocation of goodwill and the changes in goodwill in the nine months ended September 30, 2013 by our segment structure.