16.

Segments

Segment Information

The Company operates three reportable segments: Consumer Domestic, Consumer International and Specialty Products Division (“SPD”). These segments are determined based on differences in the nature of products and organizational and ownership structures. The Company also has a Corporate segment.

Segment revenues are derived from the sale of the following products:


Segment		Products
Consumer Domestic		Household and personal care products
Consumer International		Primarily personal care products
SPD		Specialty chemical products

The Corporate segment income consists of equity in earnings (losses) of affiliates. As of March 31, 2014, the Company held a 50% ownership interest in each of Armand and ArmaKleen, respectively, and a one-third ownership interest in Natronx. The Company’s equity in earnings (losses) of Armand, ArmaKleen and Natronx for the three months ended March 31, 2014 and March 31, 2013 are included in the Corporate segment.

Some of the subsidiaries that are included in the Consumer International segment manufacture and sell personal care products to the Consumer Domestic segment. These sales are eliminated from the Consumer International segment results set forth in the table below.

Segment Net Sales and Income before Income Taxes for the three months ended March 31, 2014 and March 31, 2013 are as follows:


	Consumer Domestic		Consumer International		SPD		Corporate⁽³⁾		Total
Net Sales⁽¹⁾
First Quarter 2014	$	593.3	$	123.8	$	64.9	$	0.0	$	782.0
First Quarter 2013		591.0		129.3		59.0		0.0		779.3

Income Before Income Taxes⁽²⁾
First Quarter 2014	$	126.9	$	18.2	$	10.0	$	1.6	$	156.7
First Quarter 2013		134.0		21.6		7.0		0.6		163.2

⁽¹⁾	Intersegment sales from Consumer International to Consumer Domestic were $0.2 and $0.9 for the three months ended March 31, 2014 and March 31, 2013, respectively.

⁽²⁾	In determining Income before Income Taxes, interest expense, investment earnings and other income (expense) were allocated among segments based upon each segment’s relative operating profit.

⁽³⁾	Corporate consists of equity in earnings (losses) of affiliates from Armand, ArmaKleen and Natronx.

Product line revenues from external customers are as follows:


	Three Months Ended
	March 31,		March 31,
	2014		2013
Household Products	$	352.5	$	358.7
Personal Care Products		240.8		232.3

Total Consumer Domestic		593.3		591.0
Total Consumer International		123.8		129.3
Total SPD		64.9		59.0

Total Consolidated Net Sales	$	782.0	$	779.3

Household Products include deodorizing, cleaning and laundry products. Personal Care Products include condoms, pregnancy kits, oral care products, skin care products and vitamin and mineral supplements.