Segment Information

3 Months Ended

Mar. 31, 2020

The following table presents a summary of the Company's reportable segment financial information:


	Three Months Ended March 31,
	2020		2019
Net sales:
Automotive	$	2,581,636	$	2,622,345
Industrial	1,509,841		1,635,423
Business products	468,055		479,065
Total net sales	$	4,559,532	$	4,736,833
Segment profit:
Automotive	$	142,314	$	179,228
Industrial	113,933		121,028
Business products	20,199		21,220
Total segment profit	276,446		321,476
Interest expense, net	(19,836)		(23,029)
Intangible asset amortization	(24,007)		(22,584)
Corporate expense	(52,742)		(30,237)
Other unallocated costs (1)	(916)		(34,114)
Income before income taxes	$	178,945	$	211,512

(1) The following table presents a summary of the other unallocated costs:


	Three Months Ended March 31,
	2020		2019
Other unallocated costs:
Gain on insurance proceeds related to SPR Fire	$	12,283	$	—
Transaction and other costs	(11,760)		(7,077)
Restructuring costs	(1,439)		—
Realized currency loss	—		(27,037)
Total other unallocated costs	$	(916)	$	(34,114)

Refer to the commitments and contingencies footnote for discussion of gain on insurance proceeds. Refer to restructuring footnote for discussion of restructuring costs. Refer to acquisitions and divestitures footnote for discussion of realized currency loss and transactions that give rise to transaction and other costs. Transaction and other costs for the three months ended March 31, 2020 included $6,035 of COVID-19 incremental costs incurred relating to fees to cancel marketing events and increased cleaning and sanitization materials, among other things.

Net sales are disaggregated by geographical region for each of the Company’s reportable segments, as the Company deems this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The following table presents disaggregated geographical net sales from contracts with customers by reportable segment:


	Three Months Ended March 31,
	2020		2019
North America:
Automotive	$	1,730,447	$	1,813,785
Industrial	1,410,715		1,635,423
Business products	468,055		479,065
Total North America	$	3,609,217	$	3,928,273
Australasia:
Automotive	272,924		284,553
Industrial	99,126		—
Total Australasia	372,050		284,553
Europe – Automotive	578,265		524,007
Total net sales	$	4,559,532	$	4,736,833