Segment Results

9 Months Ended

Sep. 30, 2011

Segment Results [Abstract]

Segment Results

NOTE 2.  SEGMENT RESULTS

	Three Months Ended September 30,		Nine Months Ended September 30,
Net sales to external customers	2011	2010	2011	2010
Building Products	$ 335.9	$ 309.8	$ 947.8	$ 862.1
Resilient Flooring	271.0	275.3	780.4	783.9
Wood Flooring	127.2	119.8	371.8	371.3
Cabinets	39.5	34.9	107.4	106.2
Total net sales to external customers	$ 773.6	$ 739.8	$ 2,207.4	$ 2,123.5

	Three Months Ended September 30,		Nine Months Ended September 30,
Segment operating income (loss)	2011	2010	2011	2010
Building Products	$ 72.4	$ 59.2	$ 191.0	$ 154.9
Resilient Flooring	10.6	10.1	20.6	14.9
Wood Flooring	17.4	(13.3)	34.3	(13.8)
Cabinets	1.7	(1.2)	1.7	(5.5)
Unallocated Corporate (expense)	(9.3)	(9.8)	(30.0)	(39.2)
Total consolidated operating income	$ 92.8	$ 45.0	$ 217.6	$ 111.3

	Three Months Ended September 30,		Nine Months Ended September 30,
	2011	2010	2011	2010
Total consolidated operating income	$ 92.8	$ 45.0	$ 217.6	$ 111.3
Interest expense	11.3	3.9	37.6	11.8
Other non-operating expense	0.1	0.1	1.2	0.4
Other non-operating income	(1.7)	(4.1)	(3.1)	(5.6)
Earnings before income taxes	$ 83.1	$ 45.1	$ 181.9	$ 104.7

Segment assets	September 30, 2011	December 31, 2010
Building Products	$ 1,001.9	$ 931.4
Resilient Flooring	613.3	582.6
Wood Flooring	345.3	340.7
Cabinets	53.1	47.9
Total segment assets	2,013.6	1,902.6
Assets not assigned to segments	1,104.5	1,019.8
Total consolidated assets	$ 3,118.1	$ 2,922.4

Impairment testing of our tangible assets occurs whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.  During the first quarter of 2011, we announced the idling of our Statesville, North Carolina engineered wood production facility. As a result, we evaluated the impairment implications of this decision and determined no impairment charge was necessary.

During the third quarter of 2011, we recorded an asset impairment charge of $2.2 million in selling, general and administrative ("SG&A") expense for a European Resilient Flooring office building. The fair value was determined by management estimates of market prices based upon information available, including offers received from potential buyers of the property (considered Level 3 inputs in the fair value hierarchy as described in Note 15 to the Condensed Consolidated Financial Statements).

During the first quarter of 2010, we decided to exit our flight operations. As a result, we recorded a $3.1 million impairment charge in SG&A expense.  The fair values were determined by management estimates of market prices based upon information available at that time.  This data included sales of similar equipment and historical appraisal information (considered Level 3 inputs in the fair value hierarchy).

Additionally, during the first quarter of 2010, we announced that one of our European metal ceilings manufacturing facilities would be shutdown in the second quarter of 2010, which prompted us to perform an impairment test for this asset group.  The carrying amount of the tangible assets was determined to be recoverable as the projected undiscounted cash flows exceeded the carrying value. We sold the facility in the third quarter of 2010.

During the second quarter of 2010, we received additional information regarding the estimated fair value for our flight operations assets. As a result, we recorded an additional $3.0 million impairment charge in SG&A expense in the second quarter of 2010. The fair values were determined by management estimates and an independent valuation.  The valuation information included sales of similar equipment and estimates of market prices (considered Level 2 inputs in the fair value hierarchy) for these assets.  We sold the corporate aircraft in the fourth quarter of 2010.

We also recorded an asset impairment charge of $2.1 million in SG&A expense in the second quarter of 2010 for a European Resilient Flooring warehouse facility due to the decline in the commercial property sector. The fair value was determined by management estimates of market prices available at that time.  This data included sales and leases of comparable properties within similar real estate markets (considered Level 3 inputs in the fair value hierarchy). We sold the warehouse on January 1, 2011.

During the third quarter of 2010, we decided to close an Americas ceiling plant, one of our previously idled Wood Flooring plants, portions of another previously idled Wood Flooring plant, and an Americas Resilient Flooring facility. These facilities were shut down either in the fourth quarter of 2010, or in the first quarter of 2011. In addition to these domestic facilities, we announced our intention to exit the residential flooring business in Europe. We performed an impairment analysis for these facilities and, in each case, the carrying amount of the tangible assets was determined to be recoverable, as the projected undiscounted cash flows, or estimated fair value of the assets, exceeded the carrying value.