SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

P. SEGMENT INFORMATION

        Our reportable segments are as follows:

        Cabinets and Related Products – principally includes assembled kitchen and bath cabinets; home office workstations; entertainment centers; storage products; bookcases; and kitchen utility products.

        Plumbing Products – principally includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas; and, exercise pools.

        Decorative Architectural Products – principally includes paints and stains; and cabinet, door, window and other hardware.

        Other Specialty Products – principally includes windows, window frame components and patio doors; staple gun tackers, staples and other fastening tools.

        The above products and services are sold to the home improvement and new home construction markets through home center retailers, mass merchandisers, hardware stores, homebuilders, distributors and other outlets for consumers and contractors and direct to the customer.

        Our operations are principally located in North America and Europe. Our country of domicile is the United States of America.

        Corporate assets consist primarily of real property, equipment, cash and cash investments and other investments.

        Our segments are based upon similarities in products and services and represent the aggregation of operating units, for which financial information is regularly evaluated by our corporate operating executive in determining resource allocation and assessing performance, and is periodically reviewed by the Board of Directors. Accounting policies for the segments are the same as those for us. We primarily evaluate performance based upon operating profit (loss) and, other than general corporate expense, allocate specific corporate overhead to each segment. The evaluation of segment operating profit (loss) also excludes the income from litigation settlements.

        Information by segment and geographic area was as follows, in millions:

	Net Sales (1)(2)(3)(4)(5)						Operating Profit (Loss) (5)(6)									Assets at December 31 (8)
	2015		2014		2013		2015			2014			2013			2015		2014		2013
Our operations by segment were:
Cabinets and Related Products	$	1,025	$	999	$	1,014	$	51		$	(62	)	$	(10	)	$	567	$	608	$	659
Plumbing Products		3,341		3,308		3,183		512			512			394			1,972		1,989		2,040
Decorative Architectural Products		2,020		1,998		1,927		403			360			351			874		857		812
Other Specialty Products		756		701		637		57			47			35			748		702		693
Total	$	7,142	$	7,006	$	6,761	$	1,023		$	857		$	770		$	4,161	$	4,156	$	4,204
Our operations by geographic area were:
North America	$	5,645	$	5,377	$	5,222	$	841		$	643		$	612		$	2,925	$	2,861	$	2,830
International, principally Europe		1,497		1,629		1,539		182			214			158			1,236		1,295		1,374
Total, as above	$	7,142	$	7,006	$	6,761		1,023			857			770			4,161		4,156		4,204
General corporate expense, net(6)								(109	)		(145	)		(158	)
Income from litigation settlements(7)								—			9			—
Operating profit, as reported								914			721			612
Other income (expense), net								(225	)		(214	)		(226	)
Income from continuing operations before income taxes							$	689		$	507		$	386
Corporate assets																	1,519		1,576		1,214
Assets held for sale																	—		1,476		1,467
Total assets																$	5,680	$	7,208	$	6,885

	Property Additions (5)						Depreciation and Amortization (5)
	2015		2014		2013		2015		2014		2013
Our operations by segment were:
Cabinets and Related Products	$	6	$	9	$	9	$	24	$	33	$	42
Plumbing Products		87		65		71		56		63		65
Decorative Architectural Products		16		12		16		16		16		17
Other Specialty Products		41		28		10		18		18		22
		150		114		106		114		130		146
Unallocated amounts, principally related to corporate assets		1		1		4		13		11		11
Total	$	151	$	115	$	110	$	127	$	141	$	157

(1)	Included in net sales were export sales from the U.S. of $217 million, $228 million and $227 million in 2015, 2014 and 2013, respectively.
(2)	Excluded from net sales were intra-company sales between segments of less than one percent in 2015, 2014 and 2013.
(3)	Included in net sales were sales to one customer of $2,378 million, $2,310 million and $2,275 million in 2015, 2014 and 2013, respectively. Such net sales were included in each of our segments.
(4)	Net sales from our operations in the U.S. were $5,407 million, $5,112 million and $4,947 million in 2015, 2014 and 2013, respectively.
(5)	Net sales, operating profit (loss), property additions and depreciation and amortization expense for 2015, 2014 and 2013 excluded the results of businesses reported as discontinued operations.
(6)	General corporate expense, net included those expenses not specifically attributable to our segments.
(7)	The income from litigation settlements in 2014 relates to a business in our Decorative Architectural Products segment.
(8)	Long-lived assets of our operations in the U.S. and Europe were $1,487 million and $427 million, $1,470 million and $428 million, and $1,530 million and $481 million at December 31, 2015, 2014 and 2013, respectively.