| Operations by Industry Segment and Geographic Area |
22. Operations by
Industry Segment and Geographic Area
Summarized financial
information related to the Company’s reportable segments at
March 31, 2013, 2012 and 2011 and for each of the fiscal years
then ended is shown below.
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Fiscal Years Ended
March 31, |
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2013 |
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2012 |
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2011 |
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Net sales by segment
to unaffiliated customers
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EMEA
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$ |
926,165 |
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$ |
995,431 |
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$ |
890,313 |
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Americas
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1,126,904 |
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1,082,747 |
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896,629 |
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Asia
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224,490 |
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205,191 |
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177,520 |
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Total net
sales
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$ |
2,277,559 |
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$ |
2,283,369 |
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$ |
1,964,462 |
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Net sales by product
line
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Reserve power
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$ |
1,118,965 |
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$ |
1,092,734 |
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$ |
970,480 |
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Motive power
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1,158,594 |
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1,190,635 |
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993,982 |
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Total net
sales
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$ |
2,277,559 |
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$ |
2,283,369 |
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$ |
1,964,462 |
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Intersegment
sales
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EMEA
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$ |
76,947 |
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$ |
75,652 |
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$ |
55,586 |
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Americas
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36,854 |
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38,115 |
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42,141 |
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Asia
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31,246 |
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21,182 |
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21,349 |
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Total intersegment
sales(1)
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$ |
145,047 |
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$ |
134,949 |
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$ |
119,076 |
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Operating
earnings
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EMEA
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$ |
64,032 |
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$ |
63,872 |
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$ |
55,643 |
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Americas
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171,854 |
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138,894 |
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124,515 |
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Asia
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21,146 |
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12,133 |
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10,469 |
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Restructuring
charges—EMEA
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(4,473 |
) |
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(4,988 |
) |
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(6,813 |
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Restructuring
charges—Asia
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(2,691 |
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— |
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— |
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Legal proceedings
settlement income—EMEA
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— |
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900 |
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— |
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Total operating
earnings(2)
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$ |
249,868 |
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$ |
210,811 |
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$ |
183,814 |
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Property, plant and
equipment, net
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EMEA
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$ |
152,577 |
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$ |
161,854 |
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$ |
169,056 |
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Americas
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152,678 |
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144,701 |
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142,263 |
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Asia
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44,871 |
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46,660 |
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33,066 |
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Total
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$ |
350,126 |
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$ |
353,215 |
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$ |
344,385 |
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Capital
Expenditures
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EMEA
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$ |
20,761 |
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$ |
21,631 |
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$ |
22,034 |
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Americas
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29,566 |
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20,862 |
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22,368 |
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Asia
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4,959 |
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6,450 |
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15,538 |
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Total
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$ |
55,286 |
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$ |
48,943 |
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$ |
59,940 |
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Depreciation and
Amortization
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EMEA
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$ |
22,255 |
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$ |
25,451 |
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$ |
21,564 |
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Americas
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23,073 |
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21,466 |
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19,842 |
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Asia
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5,174 |
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3,443 |
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2,987 |
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Total
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$ |
50,502 |
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$ |
50,360 |
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$ |
44,393 |
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| (1) |
Intersegment sales are
presented on a cost-plus basis which takes into consideration the
effect of transfer prices between legal entities. |
| (2) |
The Company does not
allocate interest expense or other (income) expense to the
reportable segments. |
The Company markets its
products and services in over 100 countries. Sales are attributed
to countries based on the location of sales order approval and
acceptance. Sales to customers in the United States were 43.0%,
42.6% and 41.3% for fiscal years ended March 31, 2013, 2012
and 2011, respectively. Property, plant and equipment, net,
attributable to the United States as of March 31, 2013 and 2012,
were $127,191 and $119,242, respectively. No single country,
outside the United States, accounted for more than 10% of the
consolidated net sales or net property, plant and equipment and
therefore was deemed not material for separate
disclosure.
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