Segment and Geographical Information

12 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment and Geographical Information

Segment and Geographical Information

We conduct our operations through two reportable business segments: the Process Equipment Group and Batesville.  These reporting segments are determined on the basis of our management structure, and how we internally report financial information used to make operating decisions and evaluate results.

We record the direct costs of business operations to the reporting segments, including stock-based compensation, asset impairments, restructuring activities, and business acquisition costs.  Corporate provides management and administrative services to each reporting segment.  These services include treasury management, human resources, legal, business development, and other public company support functions such as internal audit, investor relations, financial reporting, and tax compliance.  With limited exception for certain professional services and back-office and technology costs, we do not allocate these types of corporate expenses to the reporting segments.

	September 30,
	2016			2015			2014
Net revenue
Process Equipment Group	$	964.7		$	992.8		$	1,075.0
Batesville	573.7			604.0			592.2
Total net revenue	$	1,538.4		$	1,596.8		$	1,667.2
Adjusted EBITDA
Process Equipment Group	$	160.9		$	160.5		$	150.4
Batesville	143.5			145.5			150.8
Corporate	(37.3		)	(37.3		)	(25.7		)
Net revenue(1)
United States	$	857.0		$	915.0		$	874.4
Germany	482.7			477.3			561.1
All other foreign business units	198.7			204.5			231.7
Total revenue	$	1,538.4		$	1,596.8		$	1,667.2
Depreciation and amortization
Process Equipment Group	$	45.2		$	37.2		$	41.9
Batesville	14.1			15.8			15.5
Corporate	1.1			1.3			1.0
Total depreciation and amortization	$	60.4		$	54.3		$	58.4

(1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.

	September 30,
	2016		2015
Total assets assigned
Process Equipment Group	$	1,694.6	$	1,537.3
Batesville	211.8		224.9
Corporate	54.5		45.9
Total assets	$	1,960.9	$	1,808.1
Tangible long-lived assets, net
United States	$	89.5	$	95.7
Germany	35.8		35.1
All other foreign business units	27.2		27.5
Tangible long-lived assets, net	$	152.5	$	158.3

The following schedule reconciles segment adjusted EBITDA to consolidated net income.

	Year Ended September 30,
	2016			2015			2014
Adjusted EBITDA:
Process Equipment Group	$	160.9		$	160.5		$	150.4
Batesville	143.5			145.5			150.8
Corporate	(37.3		)	(37.3		)	(25.7		)
Less:
Interest income	(1.2		)	(1.0		)	(0.8		)
Interest expense	25.3			23.8			23.3
Income tax expense	47.3			49.1			48.7
Depreciation and amortization	60.4			54.3			58.4
Business acquisition costs	3.7			3.6			8.4
Inventory step-up	2.4			—			—
Restructuring and restructuring related	10.2			7.5			5.5
Litigation	—			0.5			20.8
Pension settlement charge	—			17.7			—
Trade name impairment	2.2			—			—
Consolidated net income	$	116.8		$	113.2		$	111.2