XML 106 R48.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Sales by Significant Product Group
The following table presents net sales information about our reportable segments, reconciled to consolidated totals:
($ in millions)202120202019
Net sales:
Proprietary Products$2,317.3 $1,648.6 $1,398.6 
Contract-Manufactured Products514.7 498.6 441.5 
Intersegment sales elimination(0.4)(0.3)(0.2)
Consolidated net sales$2,831.6 $2,146.9 $1,839.9 
Schedule of Sales and Long-Lived Assets, by Geographical Areas
The following table presents net sales and long-lived assets, by the country in which the legal subsidiary is domiciled and assets are located:
Net SalesLong-Lived Assets
($ in millions)20212020201920212020
United States$1,198.0 $975.6 $814.7 $504.1 $407.8 
Germany474.3 282.1 236.3 124.1 112.0 
Ireland247.6 226.0 173.8 187.3 197.6 
France213.0 172.7 150.6 86.1 76.0 
Other European countries341.3 236.8 251.1 65.1 66.8 
Other357.4 253.7 213.4 160.1 151.3 
$2,831.6 $2,146.9 $1,839.9 $1,126.8 $1,011.5 
Schedule of Segment Reporting Information, by Segment
The following tables provide summarized financial information for our segments:

($ in millions)202120202019
Proprietary Products$796.1 $434.5 $313.6 
Contract-Manufactured Products67.2 68.6 49.1 
Total business segment operating profit$863.3 $503.1 $362.7 
Corporate and Unallocated
Stock-based compensation expense$(37.5)$(34.0)$(24.4)
Corporate general costs (1)
(63.4)(52.1)(41.9)
Unallocated Items:
Restructuring and severance related charges (2)
(2.2)(7.0)(4.9)
Amortization of acquisition-related intangible assets (3)
(0.8)(0.6)— 
Asset impairment (4)
(2.8)— — 
Cost investment activity (5)
(4.3)(2.5)— 
Gain on restructuring-related sale of assets— — 1.7 
Argentina currency devaluation— — (1.0)
Tax recovery (6)
— — 4.4 
Total Corporate and Unallocated(111.0)(96.2)(66.1)
Total consolidated operating profit$752.3 $406.9 $296.6 
Other expense/(income), net3.4 5.6 4.8 
Income before income taxes$748.9 $401.3 $291.8 

(1) Corporate general costs includes executive and director compensation, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments.

(2) During 2021 and 2020, the Company recorded a restructuring and severance related charge of $2.2 million and $7.0 million, respectively, to optimize certain organizational structure within the Company. During 2019, the Company recorded $4.9 million in restructuring and related charges in connection with the 2018 plan.

(3) During 2021, the company recorded $0.8 million of amortization expense within operating profit associated with an acquisition of an intangible asset during the second quarter of 2020. During 2020, the company recorded $0.6 million of amortization expense within operating profit associated with an acquisition of an intangible asset during the second quarter of 2020.

(4) The Company recorded a $2.8 million impairment charge for certain long-lived and intangible assets within the Proprietary Products segment as it determined the carrying value was not fully recoverable. $1.9 million of this charge is recorded in Cost of Goods Sold and $0.9 million of the charge is recorded in Selling, General, and Administrative expense, due to the nature of the impaired assets.

(5) During 2021, the net cost investment activity was equal to $4.3 million, inclusive of an impairment charge of $4.6 million partially offset by a $0.3 million gain on the sale of a cost investment. During 2020, the Company recorded a cost investment impairment charge of $2.5 million.

(6) During the twelve months ended December 31, 2019, the Company recorded a net tax recovery of $4.4 million related to previously-paid international excise taxes, following a favorable court ruling.
The following tables provide summarized financial information for our two reportable segments and corporate and unallocated:
($ in millions)
Assets20212020
Proprietary Products$2,152.6 $1,798.3 
Contract-Manufactured Products443.7 411.6 
Corporate and Unallocated717.5 583.9 
Total consolidated$3,313.8 $2,793.8 

($ in millions)
Depreciation and Amortization202120202019
Proprietary Products$93.8 $84.6 $82.2 
Contract-Manufactured Products21.1 20.4 17.9 
Corporate and Unallocated7.4 4.1 3.3 
Total consolidated$122.3 $109.1 $103.4 
($ in millions)
Capital Expenditures202120202019
Proprietary Products$218.0 $139.5 $88.7 
Contract-Manufactured Products26.6 25.0 36.1 
Corporate and Unallocated8.8 9.9 1.6 
Total consolidated$253.4 $174.4 $126.4