| Summary of Financial Information by Reportable Segment |
The following table provides summary financial information by reportable segment (in millions):
|
|
|
September 30, 2016 |
|
|
December 31, 2015 |
|
|
Identifiable segment-related assets: |
|
|
|
|
|
|
|
|
|
CCS |
|
$ |
4,729.1 |
|
|
$ |
4,642.0 |
|
|
CMS |
|
|
2,127.7 |
|
|
|
2,258.8 |
|
|
Total identifiable segment-related assets |
|
|
6,856.8 |
|
|
|
6,900.8 |
|
|
Reconciliation to total assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
517.3 |
|
|
|
562.9 |
|
|
Deferred income tax assets |
|
|
37.5 |
|
|
|
38.9 |
|
|
Total assets |
|
$ |
7,411.6 |
|
|
$ |
7,502.6 |
|
|
| Summary of Net Sales and Operating Income (Loss), Depreciation and Amortization by Reportable Segment |
The following table provides net sales, operating income (loss), depreciation and amortization by reportable segment (in millions):
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
|
September 30, |
|
|
September 30, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
Net sales: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CCS |
|
$ |
819.2 |
|
|
$ |
489.0 |
|
|
$ |
2,284.2 |
|
|
$ |
1,170.2 |
|
|
CMS |
|
|
474.7 |
|
|
|
483.6 |
|
|
|
1,460.5 |
|
|
|
1,495.1 |
|
|
Consolidated net sales |
|
$ |
1,293.9 |
|
|
$ |
972.6 |
|
|
$ |
3,744.7 |
|
|
$ |
2,665.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CCS (1) |
|
$ |
104.8 |
|
|
$ |
(33.9 |
) |
|
$ |
247.8 |
|
|
$ |
34.0 |
|
|
CMS (2) |
|
|
75.9 |
|
|
|
(8.6 |
) |
|
|
207.5 |
|
|
|
126.0 |
|
|
Consolidated operating income (loss) |
|
$ |
180.7 |
|
|
$ |
(42.5 |
) |
|
$ |
455.3 |
|
|
$ |
160.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CCS |
|
$ |
13.7 |
|
|
$ |
8.0 |
|
|
$ |
40.3 |
|
|
$ |
16.9 |
|
|
CMS |
|
|
6.5 |
|
|
|
7.6 |
|
|
|
19.9 |
|
|
|
21.8 |
|
|
Consolidated depreciation |
|
$ |
20.2 |
|
|
$ |
15.6 |
|
|
$ |
60.2 |
|
|
$ |
38.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization (3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CCS |
|
$ |
49.4 |
|
|
$ |
30.8 |
|
|
$ |
148.3 |
|
|
$ |
74.1 |
|
|
CMS |
|
|
25.2 |
|
|
|
23.5 |
|
|
|
76.0 |
|
|
|
69.6 |
|
|
Consolidated amortization |
|
$ |
74.6 |
|
|
$ |
54.3 |
|
|
$ |
224.3 |
|
|
$ |
143.7 |
|
|
(1) |
Operating income (loss) for the three months ended September 30, 2016 and 2015 included impairment charges of $7.4 million and $10.9 million, respectively. Impairment charges for the nine months ended September 30, 2016 and 2015 were $22.7 million and $10.9 million, respectively. Operating income (loss) for the three months ended September 30, 2016 and 2015 included integration and transaction costs of $14.6 million and $57.1 million, respectively. Integration and transaction costs for the nine months ended September 30, 2016 and 2015 were $42.1 million and $68.6 million, respectively. Operating income (loss) for the three months ended September 30, 2016 and 2015 included restructuring charges of $8.4 million and $4.1 million, respectively. Restructuring charges for the nine months ended September 30, 2016 and 2015 were $16.1 million and $5.2 million, respectively. Operating loss for the three months ended September 30, 2015 included purchase accounting charges related to the mark-up on inventory of $29.2 million. Purchase accounting charges for the nine months ended September 30, 2016 and 2015 were $0.6 million and $29.3 million, respectively. |
|
(2) |
Operating income (loss) for the three and nine months ended September 30, 2015 included impairment charges of $74.4 million. Operating income (loss) for the three months ended September 30, 2016 and 2015 included integration and transaction costs of $0.2 million and $3.8 million, respectively. Integration and transaction costs for the nine months ended September 30, 2016 and 2015 were $2.9 million and $13.5 million, respectively. Operating income (loss) for the three months ended September 30, 2016 and 2015 included restructuring charges of $2.5 million and $2.8 million, respectively. Restructuring charges for the nine months ended September 30, 2016 and 2015 were $8.4 million and $5.4 million, respectively. |
|
(3) |
Excludes amortization of debt issuance costs and original issue discount. |
|
| Summary of Sales by Geographic Region, Based on Destination of Product Shipments |
Sales by geographic region, based on the destination of product shipments, were as follows (in millions):
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
|
September 30, |
|
|
September 30, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
United States |
|
$ |
712.2 |
|
|
$ |
497.3 |
|
|
$ |
2,011.2 |
|
|
$ |
1,326.9 |
|
|
Europe, Middle East and Africa |
|
|
233.9 |
|
|
|
196.4 |
|
|
|
693.4 |
|
|
|
533.1 |
|
|
Asia Pacific |
|
|
245.9 |
|
|
|
187.0 |
|
|
|
736.2 |
|
|
|
537.4 |
|
|
Central and Latin America |
|
|
69.2 |
|
|
|
65.6 |
|
|
|
212.4 |
|
|
|
197.3 |
|
|
Canada |
|
|
32.7 |
|
|
|
26.3 |
|
|
|
91.5 |
|
|
|
70.6 |
|
|
Consolidated net sales |
|
$ |
1,293.9 |
|
|
$ |
972.6 |
|
|
$ |
3,744.7 |
|
|
$ |
2,665.3 |
|
|