SEGMENT AND GEOGRAPHIC INFORMATION

The Company’s business consists of the Water Systems, Distribution, and Fueling Systems reportable segments, based on the principal end market served. Within the Water Systems segment, North America Water Systems and International Water Systems have been identified as operating segments. For reportable segment purposes, the Company aggregates North America Water Systems and International Water Systems into the Water Systems segment, as they meet the aggregation criteria in FASB ASC 280. The Company includes unallocated corporate expenses and inter-company eliminations in an “Intersegment Eliminations/Other” segment that together with the Water Systems, Distribution, and Fueling Systems segments, represent the Company.

The Water Systems segment designs, manufactures and sells motors, pumps, electronic controls and related parts and equipment primarily for use in submersible water and other fluid system applications. The Fueling Systems segment designs, manufactures and sells pumps, electronic controls and related parts and equipment primarily for use in submersible fueling system applications. The Fueling Systems segment integrates and sells motors and electronic controls produced by the Water Systems segment. The Distribution segment sells to and provides pre sale support and specifications to the installing contractors. The Distribution segment sells products produced by the Water Systems segment.

The accounting policies of the Company’s reportable segments are the same as those described in Note 1 (Summary of Significant Accounting Policies). Performance is evaluated based on the sales and operating income of the segments and a variety of ratios to measure performance. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.

Financial information by reportable business segment is included in the following summary:



Net Sales
(In millions)	2017			2016			2015
Water Systems
External sales	703.3			723.2			707.6
Intersegment sales	45.3			—			—
Total sales	748.6			723.2			707.6
Distribution
External sales	176.7			—			—
Intersegment sales	—			—			—
Total sales	176.7			—			—
Fueling Systems
External sales	244.9			226.7			217.3
Intersegment sales	1.0			—			—
Total Sales	245.9			226.7			217.3

Intersegment Eliminations/Other	(46.3		)	—			—
Consolidated	$	1,124.9		$	949.9		$	924.9

Operating income (loss)
	2017			2016			2015
Water Systems	$	102.0		$	108.2		$	86.7
Distribution	3.7			—			—
Fueling Systems	60.0			56.3			51.5
Intersegment Eliminations/Other	(58.7		)	(53.7		)	(47.8		)
Consolidated	$	107.0		$	110.8		$	90.4



	Total assets						Depreciation
	2017		2016		2015		2017		2016		2015
Water Systems	$	695.4	$	671.5	$	677.6	$	20.9	$	19.5	$	19.5
Distribution	153.1		—		—		1.3		—		—
Fueling Systems	265.7		251.1		248.5		2.2		2.3		2.5
Other	71.2		117.3		70.0		5.5		5.3		4.8
Consolidated	$	1,185.4	$	1,039.9	$	996.1	$	29.9	$	27.1	$	26.8

	Amortization						Capital expenditures
	2017		2016		2015		2017		2016		2015
Water Systems	$	6.2	$	6.4	$	6.6	$	19.1	$	31.8	$	19.5
Distribution	0.4		—		—		1.1		—		—
Fueling Systems	1.9		1.9		1.9		11.0		2.1		1.4
Other	0.1		0.1		0.1		2.2		3.7		5.0
Consolidated	$	8.6	$	8.4	$	8.6	$	33.4	$	37.6	$	25.9

Property, plant and equipment is the major asset group in “Other” of total assets at December 31, 2017. Cash is the major asset group in “Other” of total assets at December 31, 2016.

Financial information by geographic region is as follows:



	Net sales						Long-lived assets
(In millions)	2017		2016		2015		2017		2016		2015
United States	$	596.6	$	446.9	$	418.5	$	326.1	$	349.2	$	404.1
Foreign	528.3		503.0		506.4		261.2		202.3		150.7
Consolidated	$	1,124.9	$	949.9	$	924.9	$	587.3	$	551.5	$	554.8

Net sales are attributed to geographic regions based upon the ship to location of the customer. Long-lived assets are attributed to geographic regions based upon the country of domicile.

The Company offers a large array of products and systems to multiple markets and customers. Product sales information is tracked regionally and products are categorized differently between regions based on local needs and reporting requirements. However, net sales by segment are representative of the Company’s sales by major product category. The Company sells its products through various distribution channels including wholesale and retail distributors, specialty distributors, industrial and petroleum equipment distributors, as well as major oil and utility companies and original equipment manufacturers.

No single customer accounted for more than 10 percent of the Company’s consolidated sales in 2017, 2016, or 2015. No single customer accounted for more than 10 percent of the Company’s gross accounts receivable in 2017 or 2016.