Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2013

Net Sales and Operating Income by Segment

The Company’s subsidiaries operate principally in the United States, Canada, Mexico, China and Western Europe.

(In millions)	2013		2012		2011
Net sales:
Kitchen & Bath Cabinetry	$	1,642.2	$	1,326.6	$	1,256.3
Plumbing & Accessories		1,287.0		1,100.7		962.8
Advanced Material Windows & Door Systems		657.8		587.2		552.9
Security & Storage		570.4		576.6		556.6
Net sales	$	4,157.4	$	3,591.1	$	3,328.6

(In millions)	2013			2012			2011
Operating income (loss):
Kitchen & Bath Cabinetry	$	97.1		$	20.5		$	5.7
Plumbing & Accessories		228.3			169.2			138.0
Advanced Material Windows & Door Systems		14.4			(1.0	)		(101.2	)
Security & Storage		90.4			75.4			62.6
Less: Corporate expenses(a)		(73.1	)		(102.4	)		(120.7	)
Operating income (loss)	$	357.1		$	161.7		$	(15.6	)
Total assets:
Kitchen & Bath Cabinetry	$	1,588.0		$	1,248.5		$	1,273.2
Plumbing & Accessories		1,176.3			1,081.7			1,065.0
Advanced Material Windows & Door Systems		766.1			778.2			804.2
Security & Storage		461.8			459.8			399.9
Corporate(b)		185.9			305.7			95.6
Total assets	$	4,178.1		$	3,873.9		$	3,637.9
(a)    Below is a table detailing Corporate expenses:
Corporate expenses:
General and administrative expense(c)	$	(78.0	)	$	(63.7	)	$	(44.1	)
Business separation costs		—			—			(2.4	)
Defined benefit plan costs		10.1			3.5			5.8
Defined benefit plan recognition of actuarial losses		(5.2	)		(42.2	)		(80.0	)
Total Corporate expenses	$	(73.1	)	$	(102.4	)	$	(120.7	)

^(b)  Corporate assets at December 31, 2013 and 2012 primarily consisted of cash and at December 31, 2010 predominantly consisted of short-term loans to our Former Parent.

^(c)  General and administrative expense included a $23.4 million allocation of general corporate expenses incurred directly by our Former Parent in the first nine months of 2011.

(In millions)	2013			2012			2011
Depreciation expense:
Kitchen & Bath Cabinetry	$	29.3		$	38.8		$	38.6
Plumbing & Accessories		16.7			18.1			18.2
Advanced Material Windows & Door Systems		16.9			18.5			25.8
Security & Storage		13.0			13.3			14.0
Corporate		1.3			1.5			0.5
Depreciation expense	$	77.2		$	90.2		$	97.1
Amortization of intangible assets:
Kitchen & Bath Cabinetry	$	5.1		$	3.3		$	6.0
Advanced Material Windows & Door Systems		7.5			7.5			7.9
Security & Storage		0.6			0.3			0.5
Amortization of intangible assets	$	13.2		$	11.1		$	14.4
Capital expenditures:
Kitchen & Bath Cabinetry	$	36.4		$	27.7		$	29.1
Plumbing & Accessories		25.3			19.1			16.5
Advanced Material Windows & Door Systems		13.6			15.0			13.5
Security & Storage		18.9			13.0			9.4
Corporate		2.5			0.2			—
Capital expenditures, gross		96.7			75.0			68.5
Less: proceeds from disposition of assets		(2.2	)		(13.5	)		(3.5	)
Capital expenditures, net	$	94.5		$	61.5		$	65.0
Net sales by geographic region(a):
United States	$	3,479.4		$	2,969.1		$	2,755.0
Canada		418.1			405.3			390.3
China and other international		259.9			216.7			183.3
Net sales	$	4,157.4		$	3,591.1		$	3,328.6
Property, plant and equipment, net:
United States	$	439.2		$	428.9		$	443.7
Mexico		55.6			37.0			39.1
Canada		29.4			32.7			32.8
China and other international		10.2			10.8			10.2
Property, plant and equipment, net	$	534.4		$	509.4		$	525.8

^(a)  Based on country of destination