Segment Information

The Company's operations are organized and managed based on similar product offerings and end markets, and are reported to senior management as the following seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The following is a description of the Company's seven segments:

Automotive OEM— This segment is a global, niche supplier to top tier OEMs, providing unique innovation to address pain points for sophisticated customers with complex problems. Businesses in this segment produce components and fasteners for automotive-related applications.

Food Equipment— This segment is a highly focused and branded industry-leader in commercial food equipment differentiated by innovation and integrated service offerings.

Test & Measurement and Electronics— This segment is a branded and innovative producer of test and measurement and electronic manufacturing and MRO solutions that improve efficiency and quality for customers in diverse end markets. Businesses in this segment produce equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics.

Welding— This segment is a branded value-added equipment and specialty consumable manufacturer with innovative and leading technology. Businesses in this segment produce arc welding equipment, consumables and accessories for a wide array of industrial and commercial applications.

Polymers & Fluids— This segment is a highly branded supplier to niche markets that require value-added, differentiated products. Businesses in this segment produce engineered adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance.

Construction Products— This segment is a branded supplier of innovative engineered fastening systems and solutions.

Specialty Products— This segment is focused on diversified niche market opportunities with substantial patent protection producing beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners.

Segments are allocated a fixed overhead charge based on the segment's revenue. Expenses not charged to the segments are reported separately as Unallocated. Because the Unallocated category includes a variety of items, it is subject to fluctuations on a quarterly and annual basis. Unallocated in 2017 includes the favorable impact from the previously discussed confidential legal settlement.

Segment information for 2017, 2016 and 2015 was as follows:



In millions	2017			2016			2015
Operating revenue:
Automotive OEM	$	3,271		$	2,864		$	2,529
Food Equipment	2,123			2,110			2,096
Test & Measurement and Electronics	2,069			1,974			1,969
Welding	1,538			1,486			1,650
Polymers & Fluids	1,724			1,691			1,712
Construction Products	1,672			1,609			1,587
Specialty Products	1,938			1,885			1,885
Intersegment revenue	(21		)	(20		)	(23		)
Total	$	14,314		$	13,599		$	13,405
Operating income:
Automotive OEM	$	747		$	690		$	613
Food Equipment	556			537			498
Test & Measurement and Electronics	464			372			322
Welding	415			370			415
Polymers & Fluids	357			343			335
Construction Products	399			361			316
Specialty Products	527			482			439
Total Segments	3,465			3,155			2,938
Unallocated	29			(91		)	(71		)
Total	$	3,494		$	3,064		$	2,867
Depreciation and amortization and impairment of intangible assets:
Automotive OEM	$	111		$	90		$	76
Food Equipment	45			45			48
Test & Measurement and Electronics	92			104			110
Welding	28			36			37
Polymers & Fluids	89			92			95
Construction Products	33			34			36
Specialty Products	64			69			75
Total	$	462		$	470		$	477
Plant and equipment additions:
Automotive OEM	$	147		$	116		$	106
Food Equipment	27			31			37
Test & Measurement and Electronics	23			25			32
Welding	17			16			23
Polymers & Fluids	16			18			20
Construction Products	22			20			26
Specialty Products	45			47			40
Total	$	297		$	273		$	284
Identifiable assets:
Automotive OEM	$	2,402		$	2,051		$	1,419
Food Equipment	1,054			1,013			1,054
Test & Measurement and Electronics	2,449			2,362			2,448
Welding	756			701			747
Polymers & Fluids	2,067			2,019			2,034
Construction Products	1,196			1,099			1,129
Specialty Products	1,721			1,599			1,659
Total Segments	11,645			10,844			10,490
Corporate	5,135			4,357			5,239
Total	$	16,780		$	15,201		$	15,729

Identifiable assets by segment are those assets that are specifically used in that segment. Corporate assets are principally cash and equivalents, investments and other general corporate assets.

Enterprise-wide information for 2017, 2016 and 2015 was as follows:



In millions	2017		2016		2015
Operating Revenue by Geographic Region:
United States	$	6,243	$	6,176	$	6,167
Canada/Mexico	996		923		928
Total North America	7,239		7,099		7,095
Europe, Middle East and Africa	4,102		3,787		3,725
Asia Pacific	2,577		2,361		2,197
South America	396		352		388
Total Operating Revenue	$	14,314	$	13,599	$	13,405

Operating revenue by geographic region is based on the customers' locations. At December 31, 2017, the Company had approximately 10% of its total long-lived assets in Germany. There was no single country outside the U.S. with long-lived assets exceeding 10% of the Company's total long-lived assets in 2016 or 2015. No single customer accounted for more than 5% of consolidated revenues in 2017, 2016 or 2015. Additionally, the Company has thousands of product lines within its businesses; therefore, providing operating revenue by product line is not practicable.