Segments

The Company’s segment reporting structure consists of two reportable segments and a Corporate category as follows:


•	Food Care; and


•	Product Care.

The Company’s Food Care and Product Care segments are considered reportable segments under FASB ASC Topic 280. Our reportable segments are aligned with similar groups of products and management team. Corporate includes certain costs that are not allocated to the reportable segments, primarily consisting of unallocated corporate overhead costs, including administrative functions and cost recovery variances not allocated to the reportable segments from global functional expenses. The Company evaluates performance of the reportable segments based on the results of each segment. The Company allocates expense to each segment based on various factors including direct usage of resources, allocation of headcount, allocation of software licenses or, in cases where costs are not clearly delineated, costs may be allocated on portion of either net trade sales or an expense factor such as cost of goods sold.

We allocate and disclose depreciation and amortization expense to our segments, although depreciation and amortization are not included in the segment performance metric Adjusted EBITDA. We also allocate and disclose restructuring charges and impairment of goodwill and other intangible assets by segment, although they are not included in the segment performance metric Adjusted EBITDA since restructuring charges and impairment of goodwill and other intangible assets are categorized as Special Items. The accounting policies of the reportable segments and Corporate are the same as those applied to the Condensed Consolidated Financial Statements. Refer to "Non-U.S. GAAP Information" for additional details on the use and calculation of our non-U.S. GAAP measures presented below.

The following tables show Net Sales and Adjusted EBITDA by reportable segment:



	Three Months Ended March 31,
(In millions)	2019			2018
Net Sales:
Food Care	$	680.0		$	696.3
As a % of Total Company net sales	61.1		%	61.6		%
Product Care	432.7			434.7
As a % of Total Company net sales	38.9		%	38.4		%
Total Company Net Sales	$	1,112.7		$	1,131.0

	Three Months Ended March 31,
(In millions)	2019			2018
Non-U.S. GAAP Adjusted EBITDA from continuing operations
Food Care	$	142.9		$	134.7
Adjusted EBITDA Margin	21.0		%	19.3		%
Product Care	75.0			78.4
Adjusted EBITDA Margin	17.3		%	18.0		%
Corporate	(2.1		)	(8.3		)
Non-U.S. GAAP Total Company Adjusted EBITDA from continuing operations	$	215.8		$	204.8
Adjusted EBITDA Margin	19.4		%	18.1		%

The following table shows a reconciliation of net earnings (loss) from continuing operations to non-U.S. GAAP Total Company Adjusted EBITDA from continuing operations:



	Three Months Ended March 31,
(In millions)	2019			2018
Net earnings (loss) from continuing operations	$	64.3		$	(208.0	)
Interest expense, net	44.9			42.0
Income tax provision	30.4			321.5
Depreciation and amortization⁽¹⁾	41.1			40.4
Depreciation and amortization adjustments	(0.9		)	(0.2		)
Special Items:
Restructuring charges⁽²⁾	7.4			8.6
Other restructuring associated costs	16.7			2.2
Foreign currency exchange loss due to highly inflationary economies	0.8			—
Charges related to acquisition and divestiture activity	3.7			10.8
Gain from class-action litigation settlement	—			(12.7		)
Other Special Items⁽³⁾	7.4			0.2
Pre-tax impact of Special Items	36.0			9.1
Non-U.S. GAAP Total Company Adjusted EBITDA from continuing operations	$	215.8		$	204.8


⁽¹⁾	Depreciation and amortization by segment were as follows:



	Three Months Ended March 31,
(In millions)	2019		2018
Food Care	$	26.2	$	26.9
Product Care	14.9		13.5
Total Company depreciation and amortization⁽ⁱ⁾	$	41.1	$	40.4


⁽ⁱ⁾	Includes share-based incentive compensation of $8.4 million and $7.6 million for the three months ended March 31, 2019 and 2018, respectively.


⁽²⁾	Restructuring charges by segment were as follows:



	Three Months Ended March 31,
(In millions)	2019		2018
Food Care	$	3.8	$	4.6
Product Care	3.6		4.0
Total Company restructuring charges	$	7.4	$	8.6


⁽³⁾	Other Special Items for the three months ended March 31, 2019, primarily included fees related to professional services.

Assets by Reportable Segments

The following table shows assets allocated by reportable segment. Assets allocated by reportable segment include: trade receivables, net; inventory, net; property and equipment, net; goodwill; intangible assets, net; and leased systems, net.



(In millions)	March 31, 2019		December 31, 2018
Assets allocated to segments:
Food Care	$	1,562.2	$	1,541.5
Product Care	2,661.5		2,643.5
Total segments	4,223.7		4,185.0
Assets not allocated:
Cash and cash equivalents	$	236.0	$	271.7
Assets held for sale	0.6		0.6
Income tax receivables	46.7		58.4
Other receivables	82.7		81.3
Deferred taxes	166.4		170.5
Other	398.9		282.7
Total	$	5,155.0	$	5,050.2