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Segment Information (Tables)
12 Months Ended
Dec. 31, 2012
Company by Segment and Geographic Area

 

Information about the Company 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 (9)  (10)
 
    2012     2011     2010      2012     2011     2010     2012     2011     2010  

The Company’s operations by segment were:

                  

Cabinets and Related Products

  $ 1,189      $ 1,231      $ 1,464       $ (120   $ (206   $ (250   $ 903      $ 1,009      $ 1,108   

Plumbing Products

    2,955        2,913        2,692         307        322        331        2,012        1,959        1,866   

Installation and Other Services

    1,209        1,077        1,041         (19     (79     (798     1,444        1,427        1,537   

Decorative Architectural Products

    1,818        1,670        1,693         329        196        345        799        770        851   

Other Specialty Products

    574        576        596         (31     (401     19        704        768        1,182   
 

 

 

   

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 7,745      $ 7,467      $ 7,486       $ 466      $ (168   $ (353   $ 5,862      $ 5,933      $ 6,544   
 

 

 

   

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

The Company’s operations by geographic area were:

                  

North America

  $ 6,046      $ 5,669      $ 5,823       $ 360      $ (259   $ (507   $ 4,363      $ 4,441      $ 5,063   

International, principally Europe

    1,699        1,798        1,663         106        91        154        1,499        1,492        1,481   
 

 

 

   

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total, as above

  $ 7,745      $ 7,467      $ 7,486         466        (168     (353     5,862        5,933        6,544   
 

 

 

   

 

 

   

 

 

              

General corporate expense, net (7)

  

     (126     (118     (110      

Charge for litigation settlements, net (8)

  

     (77     (9             

Gain from sales of fixed assets, net

  

     8                       
        

 

 

   

 

 

   

 

 

       

Operating profit (loss), as reported

  

     271        (295     (463      

Other income (expense), net

  

     (229     (177     (278      
        

 

 

   

 

 

   

 

 

       

Income (loss) from continuing operations before income taxes

   

   $ 42      $ (472   $ (741      
        

 

 

   

 

 

   

 

 

       

Corporate assets

  

           1,013        1,339        1,596   

Assets held for sale

  

                  25          
              

 

 

   

 

 

   

 

 

 

Total assets

  

         $ 6,875      $ 7,297      $ 8,140   
              

 

 

   

 

 

   

 

 

 

 

     Property Additions (5)      Depreciation and
Amortization (5)
 
     2012      2011      2010      2012      2011      2010  

The Company’s operations by segment were:

                 

Cabinets and Related Products

   $ 17       $ 26       $ 34       $ 68       $ 78       $ 112   

Plumbing Products

     67         85         65         69         68         63   

Installation and Other Services

     11         9         6         30         32         33   

Decorative Architectural Products

     11         8         9         15         15         18   

Other Specialty Products

     11         17         18         21         48         26   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     117         145         132         203         241         252   

Unallocated amounts, principally related to corporate assets

     2         6         4         11         16         20   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 119       $ 151       $ 136       $ 214       $ 257       $ 272   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Included in net sales were export sales from the U.S. of $229 million, $241 million and $246 million in 2012, 2011 and 2010, respectively.

 

(2) Excluded from net sales were intra-company sales between segments of approximately two percent of net sales in each of 2012, 2011 and 2010.

 

(3) Included in net sales were sales to one customer of $2,143 million, $1,984 million and $1,993 million in 2012, 2011 and 2010, respectively. Such net sales were included in the following segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products.

 

(4) Net sales from the Company’s operations in the U.S. were $5,793 million, $5,394 million and $5,618 million in 2012, 2011 and 2010, respectively.

 

(5) Net sales, operating (loss) profit, property additions and depreciation and amortization expense for 2012, 2011 and 2010 excluded the results of businesses reported as discontinued operations in 2012, 2011 and 2010.

 

(6) Included in segment operating profit (loss) for 2012 was an impairment charge for other intangible assets as follows: Other Specialty Products – $42 million. Included in segment operating (loss) profit for 2011 were impairment charges for goodwill and other intangible assets as follows: Cabinets and Related Products – $44 million; Plumbing Products – $1 million; Decorative Architectural Products – $75 million; and Other Specialty Products – $374 million. Included in segment operating (loss) profit for 2010 were impairment charges for goodwill and other intangible assets as follows: Plumbing Products – $1 million; and Installation and Other Services – $697 million.

 

(7) General corporate expense, net included those expenses not specifically attributable to the Company’s segments.

 

(8) The charge for litigation settlement, net in 2012 primarily relates to a business in the Installation and Other Services segment and in 2011 relates to business units in the Cabinets and Related Products and the Other Specialty Products segments.

 

(9) Long-lived assets of the Company’s operations in the U.S. and Europe were $2,795 million and $567 million, $2,964 million and $565 million, and $3,684 million and $617 million at December 31, 2012, 2011 and 2010, respectively.

 

(10) Segment assets for 2012 and 2011 excluded the assets of businesses reported as discontinued operations in the respective years.