8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 10, 2017

LEGGETT & PLATT, INCORPORATED

(Exact name of registrant as specified in its charter)

Missouri	001-07845	44-0324630
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

No. 1 Leggett Road, Carthage, MO	64836
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code 417-358-8131

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

Our reportable segments are the same as our operating segments, which also correspond with our management organizational structure. In conjunction with the change in executive officer leadership, our management organizational structure and all related internal reporting changed effective January 1, 2017. As a result, the composition of our four segments also changed to reflect the new structure. The modified structure is the same except (i) the Home Furniture Group moved from Residential Products to Furniture Products (formerly named Commercial Products), and (ii) the Machinery Group moved from Specialized Products to Residential Products. The 10 business groups and 17 business units are organized as follows:

Residential Products Segment	Industrial    Products Segment	Furniture Products Segment	Specialized Products Segment
BEDDING GROUP	WIRE GROUP	HOME FURNITURE GROUP	AUTOMOTIVE GROUP
U.S. Spring	Drawn Wire	Furniture Hardware	Automotive
International Spring	Wire Products	Seating & Distribution
	Steel Rod		AEROSPACE PRODUCTS GROUP
FABRIC & CARPET CUSHION		WORK FURNITURE GROUP	Aerospace Products
GROUP		Work Furniture
Fabric Converting			CVP GROUP
Geo Components		CONSUMER PRODUCTS GROUP	Commercial Vehicle Products
Carpet Cushion		Fashion Bed
		Adjustable Bed
MACHINERY GROUP
Machinery

Previously, all of our segments used the first-in, first-out (FIFO) method for valuing inventory. In our consolidated financials, an adjustment was made at the corporate level (i.e., outside the segments) to convert about 50%-60% of our inventories to the last-in, first-out (LIFO) method. These are primarily our domestic, steel-related inventories. The LIFO adjustment has fluctuated, sometimes significantly, from year to year. We recorded an $11 million expense in 2016, a $46 million benefit in 2015, a $1 million expense in 2014, a $4 million expense in 2013, and a $13 million benefit in 2012. Although all segments were impacted, the majority of these adjustments related to the Industrial Products segment. Effective January 1, 2017, the LIFO impact will be recognized within the segment to which it relates.

Attached as Exhibit 99.1 is a revised overview of the Company’s segments and certain of the Company’s revised unaudited segment financial data for each annual and quarterly period from 2012 through 2016. This financial data reflects the reportable segments the Company will use to present its first quarter financial results for 2017, including any LIFO impact, and is being provided to facilitate the comparison of such results with prior financial periods. While this financial data reflects the change in the Company’s reportable segments described above, the Company has not in any way revised or restated its historical consolidated financial statements for any period. The Company’s consolidated net sales, earnings from continuing operations before interest and taxes, earnings from continuing operations, net earnings and net earnings per share remain unchanged for all periods presented.

This information, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), or otherwise subject to the liabilities of that section. This information shall not be incorporated by reference into any document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Revised Overview of Segments and Revised Segment Financial Data for each annual and quarterly period in years 2012 through 2016

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LEGGETT & PLATT, INCORPORATED
Date: April 10, 2017	By:	/s/ SCOTT S. DOUGLAS
		Scott S. Douglas
		Senior Vice President –
		General Counsel & Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Revised Overview of Segments and Revised Segment Financial Data for each annual and quarterly period in years 2012 through 2016

EX-99.1

Exhibit 99.1

Revised Overview of Segments and

Revised Segment Financial Data

Our reportable segments are the same as our operating segments, which also correspond with our management organizational structure. In conjunction with the change in executive officer leadership, our management organizational structure and all related internal reporting changed effective January 1, 2017. As a result, the composition of our four segments also changed to reflect the new structure. The modified structure is the same except (i) the Home Furniture Group moved from Residential Products to Furniture Products (formerly named Commercial Products), and (ii) the Machinery Group moved from Specialized Products to Residential Products. The 10 business groups and 17 business units are organized as follows:

Residential Products Segment	Industrial    Products Segment	Furniture Products Segment	Specialized Products Segment
BEDDING GROUP	WIRE GROUP	HOME FURNITURE GROUP	AUTOMOTIVE GROUP
U.S. Spring	Drawn Wire	Furniture Hardware	Automotive
International Spring	Wire Products	Seating & Distribution
	Steel Rod		AEROSPACE PRODUCTS GROUP
FABRIC & CARPET CUSHION		WORK FURNITURE GROUP	Aerospace Products
GROUP		Work Furniture
Fabric Converting			CVP GROUP
Geo Components		CONSUMER PRODUCTS GROUP	Commercial Vehicle Products
Carpet Cushion		Fashion Bed
		Adjustable Bed
MACHINERY GROUP
Machinery

Below is a revised overview of our segment structure.

RESIDENTIAL PRODUCTS SEGMENT

BEDDING GROUP

• U.S. Spring

• International Spring

FABRIC & CARPET CUSHION GROUP

• Fabric Converting

• Geo Components

• Carpet Cushion

MACHINERY GROUP

• Machinery

Our Residential Products segment began in 1883 with the manufacture of steel coil bedsprings. Today, we supply a variety of components used by bedding manufacturers in the assembly of their finished products. Our range of products offers our customers a single source for many of their component needs. We also manufacture bedding industry machinery for our own use and for sale to trade customers.

Innovative proprietary products and low cost have made us the largest U.S. manufacturer in many of these businesses. We strive to understand what drives consumer purchases in our markets and focus our product development activities on

1

meeting end-consumer needs. We attain a cost advantage from efficient manufacturing methods, internal production of key raw materials, purchasing leverage, and large-scale production. Sourcing components from us allows our customers to focus on designing, merchandising and marketing their products.

PRODUCTS

Bedding Group

• Innersprings (sets of steel coils, bound together, that form the core of a mattress)

• Wire forms for mattress foundations

• Machines that we use to shape wire into various types of springs

Fabric & Carpet Cushion Group

• Structural fabrics for mattresses, residential furniture and industrial uses

• Carpet cushion (made from bonded scrap foam, fiber, rubber and prime foam)

• Geo components (synthetic fabrics and various other products used in ground stabilization, drainage protection, erosion and weed control)

Machinery Group

• Quilting machines for mattress covers

• Industrial sewing/finishing machines

CUSTOMERS

• Manufacturers of finished bedding (mattresses and foundations)

• Retailers and distributors of carpet cushion

• Contractors, landscapers, road construction companies, and government agencies using geo components

INDUSTRIAL PRODUCTS SEGMENT

WIRE GROUP

• Drawn Wire

• Wire Products

• Steel Rod

The quality of our products and service, together with low cost, have made Leggett & Platt the leading U.S. supplier of high-carbon drawn steel wire. Our Wire group operates a steel rod mill with an annual output of approximately 500,000 tons, of which a substantial majority is used by our own wire mills. We have three wire mills that supply virtually all the wire consumed by our other domestic businesses. We also supply steel wire to trade customers that operate in a broad range of markets.

PRODUCTS

Wire Group

• Drawn wire

• Fabricated wire products

• Steel rod

2

CUSTOMERS

We use about 70% of our wire output to manufacture our own products, including:

• Bedding and furniture components

• Automotive seat suspension systems

The Industrial Products segment also has a diverse group of trade customers that include:

• Bedding producers

• Mechanical spring manufacturers

• Wire distributors

FURNITURE PRODUCTS SEGMENT

HOME FURNITURE GROUP

• Furniture Hardware

• Seating & Distribution

WORK FURNITURE GROUP

• Work Furniture

CONSUMER PRODUCTS GROUP

• Fashion Bed

• Adjustable Bed

In our Furniture Products segment, we design, manufacture, and distribute a wide range of components and finished products for the upholstered furniture, office seating, and specialty retail markets. We supply components used by upholstered furniture manufacturers in the assembly of their finished products. We are also a major supplier of fashion beds and adjustable beds, with domestic manufacturing and distribution capability as well as established relationships with global sources.

PRODUCTS

Home Furniture Group

• Steel mechanisms and motion hardware (enabling furniture to recline, tilt, swivel, rock and elevate) for reclining chairs and sleeper sofas

• Springs and seat suspensions for upholstered furniture

Work Furniture Group

• Select lines of private-label finished furniture

• Bases, columns, back rests, casters and frames for office chairs, and control devices that allow chairs to tilt, swivel and elevate

• Molded plywood components

Consumer Products Group

• Adjustable beds

• Fashion beds and bed frames

3

CUSTOMERS

• Manufacturers of upholstered furniture

• Office furniture manufacturers

• Mattress and furniture retailers

SPECIALIZED PRODUCTS SEGMENT

AUTOMOTIVE GROUP

• Automotive

AEROSPACE PRODUCTS GROUP

• Aerospace Products

CVP GROUP

• Commercial Vehicle Products

Our Specialized Products segment designs, manufactures and sells products including automotive seating components, tubing assemblies for the aerospace industry, and service van interiors. Our established design capability and focus on product development have made us a leader in innovation. We also benefit from our broad geographic presence and our internal production of key raw materials and components.

PRODUCTS

Automotive Group

• Mechanical and pneumatic lumbar support and massage systems for automotive seating

• Seat suspension systems

• Motors and actuators

• Control cables

Aerospace Products Group

• Titanium, nickel, and stainless steel tubing, formed tube and tube-assemblies

Commercial Vehicle Products Group

• Van interiors (the racks, shelving and cabinets installed in service vans)

CUSTOMERS

• Automobile seating manufacturers and OEMs

• Aerospace suppliers

• Telecommunication, cable, home service and delivery companies

4

Revised Segment Financial Data for Continuing Operations (Unaudited)

	2012															2013
(In millions, except percentages)	1Q12			2Q12			3Q12			4Q12			FY123			1Q13			2Q13			3Q13			4Q13			FY134
Net Trade Sales 1
Residential Products	$	339.4		$	328.7		$	341.5		$	314.8		$	1,324.4		$	332.9		$	343.5		$	358.7		$	338.0		$	1,373.1
Industrial Products		150.7			150.7			139.8			117.7			558.9			143.2			138.9			129.7			117.8			529.6
Furniture Products		225.2			216.7			211.6			210.0			863.5			214.6			212.8			214.4			214.4			856.2
Specialized Products		160.2			171.2			170.0			166.3			667.7			170.1			184.4			174.8			189.0			718.3
Sum	$	875.5		$	867.3		$	862.9		$	808.8		$	3,414.5		$	860.8		$	879.6		$	877.6		$	859.2		$	3,477.2
Sales Growth (Net Trade Sales)
Organic		7.1	%		(0.6	%)		(0.4	%)		(1.4	%)		1.1	%		(2.3	%)		0.8	%		0.2	%		3.9	%		0.6	%
Acquisition		2.0	%		2.4	%		2.3	%		2.3	%		2.3	%		0.6	%		0.6	%		1.5	%		2.3	%		1.2	%
Divestiture		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Sum		9.1	%		1.8	%		1.9	%		0.9	%		3.4	%		(1.7	%)		1.4	%		1.7	%		6.2	%		1.8	%
Net Total Sales 1
Residential Products	$	344.6		$	333.8		$	345.8		$	319.4		$	1,343.6		$	338.0		$	349.2		$	363.1		$	343.9		$	1,394.2
Industrial Products		223.6			218.8			200.8			174.6			817.8			209.4			204.0			195.3			181.1			789.8
Furniture Products		230.0			221.8			217.0			214.7			883.5			219.5			217.2			219.2			219.2			875.1
Specialized Products		161.1			172.0			170.7			166.9			670.7			170.8			185.1			175.6			189.5			721.0
Sum		959.3			946.4			934.3			875.6			3,715.6			937.7			955.5			953.2			933.7			3,780.1
Intersegment Sales		(83.8	)		(79.1	)		(71.4	)		(66.8	)		(301.1	)		(76.9	)		(75.9	)		(75.6	)		(74.5	)		(302.9	)
Net Trade Sales	$	875.5		$	867.3		$	862.9		$	808.8		$	3,414.5		$	860.8		$	879.6		$	877.6		$	859.2		$	3,477.2
Organic Growth (Net Total Sales)
Residential Products		5.1	%		(3.3	%)		(0.3	%)		1.4	%		0.7	%		(2.1	%)		4.4	%		4.8	%		7.2	%		3.5	%
Industrial Products		6.2	%		(5.1	%)		(8.3	%)		(14.1	%)		(5.3	%)		(8.5	%)		(8.6	%)		(5.2	%)		1.8	%		(5.5	%)
Furniture Products		9.4	%		3.6	%		2.4	%		3.2	%		4.6	%		(4.5	%)		(2.1	%)		1.0	%		2.1	%		1.0	%
Specialized Products		9.1	%		9.0	%		6.0	%		4.0	%		7.0	%		6.0	%		7.2	%		(1.6	%)		5.1	%		4.1	%
EBIT 1,2
Residential Products	$	24.5		$	27.7		$	26.2		$	23.3		$	101.7		$	19.7		$	26.4		$	29.0		$	26.5		$	101.6
Industrial Products		11.7			15.3			21.9			18.8			67.7			19.4			18.3			17.9			(2.0	)		53.6
Furniture Products		21.8			20.3			17.7			18.9			78.7			19.3			17.8			21.1			19.7			77.9
Specialized Products		14.6			23.1			21.7			17.5			76.9			22.3			28.5			21.0			(40.5	)		31.3
Intersegment Eliminations and Other		(0.8	)		(0.5	)		0.1			0.6			(0.6	)		(2.2	)		0.5			10.4			1.5			10.2
Sum		71.8			85.9			87.6			79.1			324.4			78.5			91.5			99.4			5.2			274.6
Net Interest Expense		(7.8	)		(8.0	)		(9.7	)		(11.4	)		(36.9	)		(10.1	)		(9.1	)		(8.9	)		(8.9	)		(37.0	)
Income Taxes		(20.2	)		(19.9	)		(26.8	)		11.2			(55.7	)		(18.7	)		(22.8	)		(24.0	)		14.2			(51.3	)
Earnings from Continuing Operations	$	43.8		$	58.0		$	51.1		$	78.9		$	231.8		$	49.7		$	59.6		$	66.5		$	10.5		$	186.3
EBIT Margin 1
Residential Products		7.1	%		8.3	%		7.6	%		7.3	%		7.6	%		5.8	%		7.6	%		8.0	%		7.7	%		7.3	%
Industrial Products		5.2	%		7.0	%		10.9	%		10.8	%		8.3	%		9.3	%		9.0	%		9.2	%		(1.1	%)		6.8	%
Furniture Products		9.5	%		9.2	%		8.2	%		8.8	%		8.9	%		8.8	%		8.2	%		9.6	%		9.0	%		8.9	%
Specialized Products		9.1	%		13.4	%		12.7	%		10.5	%		11.5	%		13.1	%		15.4	%		12.0	%		(21.4	%)		4.3	%
Overall		8.2	%		9.9	%		10.2	%		9.8	%		9.5	%		9.1	%		10.4	%		11.3	%		0.6	%		7.9	%
Segments = EBIT / Total Sales
Overall = EBIT / Trade Sales

¹  Sales, EBIT, and margin reflects segment structure, effective January 1, 2017, and excludes discontinued operations.

²  LIFO impact is now recognized within the segment to which it relates.

³  2012 amounts include unusual tax benefits of $27 million (in 4Q12).

⁴  2013 amounts include an impairment charge of $67 million in Specialized Products (in 4Q13) and an acquisition-related bargain purchase gain of $9 million in intersegment eliminations and other (in 3Q13).

5

Revised Segment Financial Data for Continuing Operations (Unaudited)

	2014															2015
(In millions, except percentages)	1Q14			2Q14			3Q14			4Q14			FY143			1Q15			2Q15			3Q15			4Q15			FY154
Net Trade Sales 1
Residential Products	$	341.6		$	381.6		$	446.2		$	404.8		$	1,574.2		$	408.4		$	421.8		$	433.5		$	402.4		$	1,666.1
Industrial Products		125.1			135.6			124.2			107.1			492.0			117.7			111.7			106.8			91.4			427.6
Furniture Products		215.2			221.4			225.3			241.4			903.3			235.8			248.9			258.8			239.2			982.7
Specialized Products		193.6			217.5			201.7			200.0			812.8			204.3			214.9			210.0			211.6			840.8
Sum	$	875.5		$	956.1		$	997.4		$	953.3		$	3,782.3		$	966.2		$	997.3		$	1,009.1		$	944.6		$	3,917.2
Sales Growth (Net Trade Sales)
Organic		(0.1	%)		6.9	%		8.6	%		6.2	%		5.4	%		5.6	%		(0.7	%)		(0.7	%)		(2.4	%)		0.3	%
Acquisition		1.8	%		1.8	%		5.1	%		4.8	%		3.4	%		4.8	%		5.0	%		1.9	%		1.6	%		3.3	%
Divestiture		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		(0.1	%)		0.0	%
Sum		1.7	%		8.7	%		13.7	%		11.0	%		8.8	%		10.4	%		4.3	%		1.2	%		(0.9	%)		3.6	%
Net Total Sales 1
Residential Products	$	346.9		$	387.2		$	452.3		$	409.0		$	1,595.4		$	413.8		$	427.4		$	439.0		$	407.8		$	1,688.0
Industrial Products		196.3			207.5			212.8			196.7			813.3			219.2			200.1			191.3			166.0			776.6
Furniture Products		221.6			234.0			239.6			257.4			952.6			255.2			274.3			280.6			261.7			1,071.8
Specialized Products		194.2			218.3			203.6			200.9			817.0			205.3			216.3			212.2			213.4			847.2
Sum		959.0			1,047.0			1,108.3			1,064.0			4,178.3			1,093.5			1,118.1			1,123.1			1,048.9			4,383.6
Intersegment Sales		(83.5	)		(90.9	)		(110.9	)		(110.7	)		(396.0	)		(127.3	)		(120.8	)		(114.0	)		(104.3	)		(466.4	)
Net Trade Sales	$	875.5		$	956.1		$	997.4		$	953.3		$	3,782.3		$	966.2		$	997.3		$	1,009.1		$	944.6		$	3,917.2
Organic Growth (Net Total Sales)
Residential Products		2.4	%		10.2	%		13.7	%		7.9	%		8.7	%		9.2	%		1.9	%		(3.6	%)		(0.3	%)		1.4	%
Industrial Products		(6.2	%)		1.7	%		8.9	%		8.6	%		3.0	%		11.7	%		(3.6	%)		(10.1	%)		(15.7	%)		(4.5	%)
Furniture Products		0.9	%		7.8	%		9.3	%		16.0	%		8.5	%		12.2	%		10.9	%		10.6	%		(4.3	%)		7.0	%
Specialized Products		5.0	%		10.8	%		13.6	%		6.0	%		8.8	%		5.7	%		(0.9	%)		4.2	%		6.8	%		3.8	%
EBIT 1,2
Residential Products	$	33.9		$	36.9		$	11.2		$	6.4		$	88.4		$	38.0		$	36.6		$	44.6		$	35.5		$	154.7
Industrial Products		7.4			9.1			14.7			12.8			44.0			10.4			17.6			22.1			26.7			76.8
Furniture Products		19.6			22.4			21.2			18.8			82.0			26.2			29.7			36.2			26.0			118.1
Specialized Products		26.6			34.1			29.1			29.7			119.5			37.8			36.8			37.1			38.5			150.2
Intersegment Eliminations and Other		(1.7	)		(0.3	)		(0.8	)		0.4			(2.4	)		(0.7	)		(1.5	)		1.5			(12.6	)		(13.3	)
Sum		85.8			102.2			75.4			68.1			331.5			111.7			119.2			141.5			114.1			486.5
Net Interest Expense		(9.0	)		(9.0	)		(8.9	)		(9.1	)		(36.0	)		(9.7	)		(10.2	)		(9.2	)		(7.6	)		(36.7	)
Income Taxes		(20.8	)		(23.6	)		(13.1	)		(12.8	)		(70.3	)		(28.7	)		(32.3	)		(36.1	)		(24.7	)		(121.8	)
Earnings from Continuing Operations	$	56.0		$	69.6		$	53.4		$	46.2		$	225.2		$	73.3		$	76.7		$	96.2		$	81.8		$	328.0
EBIT Margin 1
Residential Products		9.8	%		9.5	%		2.5	%		1.6	%		5.5	%		9.2	%		8.6	%		10.2	%		8.7	%		9.2	%
Industrial Products		3.8	%		4.4	%		6.9	%		6.5	%		5.4	%		4.7	%		8.8	%		11.6	%		16.1	%		9.9	%
Furniture Products		8.8	%		9.6	%		8.8	%		7.3	%		8.6	%		10.3	%		10.8	%		12.9	%		9.9	%		11.0	%
Specialized Products		13.7	%		15.6	%		14.3	%		14.8	%		14.6	%		18.4	%		17.0	%		17.5	%		18.0	%		17.7	%
Overall		9.8	%		10.7	%		7.6	%		7.1	%		8.8	%		11.6	%		12.0	%		14.0	%		12.1	%		12.4	%
Segments = EBIT / Total Sales
Overall = EBIT / Trade Sales

¹  Sales, EBIT, and margin reflects segment structure, effective January 1, 2017, and excludes discontinued operations.

²  LIFO impact is now recognized within the segment to which it relates.

³  2014 amounts include a litigation accrual of $54 million in Residential Products ($32 million in 3Q14 and $22 million in 4Q14).

⁴  2015 amounts include a litigation accrual of $6 million in Residential Products ($2 million in 2Q15 and $4 million in 4Q15), an impairment charge of $6 million in Industrial Products (in 1Q15), and a pension lump-sum buyout charge of $12 million in intersegment eliminations and other (in 4Q15).

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Revised Segment Financial Data for Continuing Operations (Unaudited)

	2016
(In millions, except percentages)	1Q16			2Q16			3Q16			4Q16			FY163
Net Trade Sales 1
Residential Products	$	390.2		$	408.0		$	403.2		$	370.0		$	1,571.4
Industrial Products		77.1			79.9			71.4			61.0			289.4
Furniture Products		251.3			235.6			254.6			247.8			989.3
Specialized Products		219.8			235.4			219.7			224.9			899.8
Sum	$	938.4		$	958.9		$	948.9		$	903.7		$	3,749.9
Sales Growth (Net Trade Sales)
Organic		(1.3	%)		(1.1	%)		(2.3	%)		(1.1	%)		(1.4	%)
Acquisition		1.2	%		0.4	%		0.5	%		0.7	%		0.7	%
Divestiture		(2.8	%)		(3.2	%)		(4.2	%)		(3.9	%)		(3.6	%)
Sum		(2.9	%)		(3.9	%)		(6.0	%)		(4.3	%)		(4.3	%)
Net Total Sales 1
Residential Products	$	395.1		$	412.2		$	407.3		$	374.0		$	1,588.6
Industrial Products		157.2			150.1			144.7			130.5			582.5
Furniture Products		272.3			252.9			265.8			257.6			1,048.6
Specialized Products		221.5			237.2			221.2			226.4			906.3
Sum		1,046.1			1,052.4			1,039.0			988.5			4,126.0
Intersegment Sales		(107.7	)		(93.5	)		(90.1	)		(84.8	)		(376.1	)
Net Trade Sales	$	938.4		$	958.9		$	948.9		$	903.7		$	3,749.9
Organic Growth (Net Total Sales)
Residential Products		(4.5	%)		(3.6	%)		(7.5	%)		(8.9	%)		(6.1	%)
Industrial Products		(19.1	%)		(12.8	%)		(7.7	%)		(3.7	%)		(11.6	%)
Furniture Products		2.7	%		(7.8	%)		(5.3	%)		(1.6	%)		(3.1	%)
Specialized Products		8.6	%		9.9	%		7.0	%		8.0	%		8.4	%
EBIT 1,2
Residential Products	$	33.1		$	52.2		$	45.1		$	37.1		$	167.5
Industrial Products		20.1			13.0			16.9			15.3			65.3
Furniture Products		31.5			24.6			26.4			24.1			106.6
Specialized Products		43.5			54.7			40.6			42.6			181.4
Intersegment Eliminations and Other		(1.1	)		2.0			1.2			(0.9	)		1.2
Sum		127.1			146.5			130.2			118.2			522.0
Net Interest Expense		(8.4	)		(9.3	)		(9.0	)		(8.2	)		(34.9	)
Income Taxes		(27.7	)		(37.7	)		(27.6	)		(27.0	)		(120.0	)
Earnings from Continuing Operations	$	91.0		$	99.5		$	93.6		$	83.0		$	367.1
EBIT Margin 1
Residential Products		8.4	%		12.7	%		11.1	%		9.9	%		10.5	%
Industrial Products		12.8	%		8.7	%		11.7	%		11.7	%		11.2	%
Furniture Products		11.6	%		9.7	%		9.9	%		9.4	%		10.2	%
Specialized Products		19.6	%		23.1	%		18.4	%		18.8	%		20.0	%
Overall		13.5	%		15.3	%		13.7	%		13.1	%		13.9	%
Segments = EBIT / Total Sales
Overall = EBIT / Trade Sales

¹  Sales, EBIT, and margin reflects segment structure, effective January 1, 2017, and excludes discontinued operations.

²  LIFO impact is now recognized within the segment to which it relates.

³  2016 amounts include divestiture gains of $11 million in Specialized Products (in 2Q16) and $16 million in Industrial Products (in 4Q16), an impairment charge of $4 million in Specialized Products (in 2Q16), and a litigation settlement gain of $7 million in Residential Products (in 2Q16).

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LIFO Impact by Segment for Continuing Operations (Unaudited)

(In millions)	FY12		FY13			FY14			FY15		FY16
LIFO Adjustments
Residential Products	$	1.8	$	(0.9	)	$	0.5		$	9.1	$	0.4
Industrial Products		10.7		(1.7	)		1.9			27.6		(9.6	)
Furniture Products		0.0		(1.0	)		(2.6	)		7.7		(1.2	)
Specialized Products		0.3		(0.3	)		(0.7	)		2.0		(0.1	)
Total LIFO benefit (expense)	$	12.8	$	(3.9	)	$	(0.9	)	$	46.4	$	(10.5	)

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