18.

Segments

Segment Information

The Company operates three reportable segments: Consumer Domestic, Consumer International and 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, 2015, the Company held 50% ownership interests 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, 2015 and March 31, 2014 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, 2015 and March 31, 2014 are as follows:

	Consumer		Consumer
	Domestic		International		SPD		Corporate⁽³⁾		Total
Net Sales⁽¹⁾
First Quarter 2015	$	614.6	$	120.4	$	77.3	$	0.0	$	812.3
First Quarter 2014		593.3		123.8		64.9		0.0		782.0
Income before Income Taxes⁽²⁾
First Quarter 2015	$	129.6	$	19.4	$	14.0	$	2.3	$	165.3
First Quarter 2014		126.9		18.2		10.0		1.6		156.7

⁽¹⁾	Intersegment sales from Consumer International to Consumer Domestic, which are not reflected in the table, were $1.3 and $0.2 for the three months ended March 31, 2015 and March 31, 2014, respectively.

⁽²⁾	In determining Income before Income Taxes, interest expense and investment earnings 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,
	2015		2014
Household Products	$	366.5	$	352.5
Personal Care Products		248.1		240.8
Total Consumer Domestic		614.6		593.3
Total Consumer International		120.4		123.8
Total SPD		77.3		64.9
Total Consolidated Net Sales	$	812.3	$	782.0

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