Business Segment Information

12 Months Ended

Dec. 31, 2014

Business Segment Information

Business Segment Information

Note 19—Business Segment Information

        The Company has two reporting segments, BSI and BEST, as discussed in Note 1 to the consolidated financial statements.

        Selected business segment information is presented below for the years ended December 31, (in millions):

	2014			2013			2012
Revenue:
BSI	$	1,674.6		$	1,709.5		$	1,666.1
BEST		152.9			147.4			136.2
Eliminations (a)		(18.6	)		(17.5	)		(10.9	)
Total revenue	$	1,808.9		$	1,839.4		$	1,791.4
Operating Income (Loss):
BSI	$	99.8		$	138.9		$	140.8
BEST		3.4			9.5			12.8
Corporate, eliminations and other (b)		2.2			(0.2	)		2.4
Total operating income	$	105.4		$	148.2		$	156.0

(a)	Represents product and service revenue between reportable segments.
(b)	Represents corporate costs and eliminations not allocated to the reportable segments.

        The Company recorded an impairment charge of $11.5 million for the year ended December 31, 2014, of which $6.4 million was within the BSI segment and $5.1 million within the BEST segment. Please see Note 7—Property, Plant and Equipment, and Note 8—Goodwill and Other Intangible Assets, for description of impairment charges recorded in 2014.

        The Company recorded an impairment charge within the BSI segment of $22.6 million for the year ended December 31, 2012, comprising goodwill and definite-lived intangible assets of $1.4 million and $16.4 million, respectively, within the former CAM division as a result of increased deterioration in its financial performance, and an impairment charge of $4.8 million to reduce certain other long-lived assets in the former CAM division to their estimated fair value. The Company recorded an impairment of assets of $1.2 million within the BEST segment for the year ended December 31, 2012 to reduce the carrying value of certain tangible long-lived assets to their estimated fair value.

        These impairment charges are included within "Impairment of assets" in the accompanying statements of income and comprehensive income.

        Total assets by segment as of and for the years ended December 31, are as follows (in millions):

	2014			2013
Assets:
BSI	$	1,827.7		$	1,925.3
BEST		101.2			146.5
Eliminations and other (a)		(64.1	)		(83.5	)
Total assets	$	1,864.8		$	1,988.3

(a) Assets not allocated to the reportable segments and eliminations of intercompany transactions.

        Total capital expenditures and depreciation and amortization by segment are presented below for the years ended December 31, (in millions):

	2014		2013		2012
Capital Expenditures:
BSI	$	31.5	$	44.9	$	60.1
BEST		2.3		5.4		12.7
Total capital expenditures	$	33.8	$	50.3	$	72.8
Depreciation and Amortization:
BSI	$	55.1	$	56.4	$	54.6
BEST		4.6		4.9		4.5
Total depreciation and amortization	$	59.7	$	61.3	$	59.1

        Revenue and property, plant and equipment by geographical area as of and for the year ended December 31, are as follows (in millions):

	2014		2013		2012
Revenue:
United States	$	387.6	$	359.7	$	377.2
Germany		215.1		188.9		174.8
Rest of Europe		522.9		583.7		531.3
Asia Pacific		495.5		529.1		525.7
Other		187.8		178.0		182.4
Total revenue	$	1,808.9	$	1,839.4	$	1,791.4

	2014		2013
Property, plant and equipment:
United States	$	45.9	$	53.8
Germany		143.8		175.0
Rest of Europe		53.6		62.7
Asia Pacific		4.7		5.8
Other		1.9		2.2
Total property, plant and equipment, net	$	249.9	$	299.5