Segment Results

6 Months Ended

Jun. 30, 2014

Segment Results [Abstract]

Segment Results

NOTE 2.  SEGMENT RESULTS

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2014	2013	2014	2013
Net sales to external customers
Building Products	$ 323.5	$ 316.3	$ 631.7	$ 609.1
Resilient Flooring	247.1	252.1	455.2	466.9
Wood Flooring	139.4	138.2	257.5	252.9
Total net sales to external customers	$ 710.0	$ 706.6	$ 1,344.4	$ 1,328.9

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2014	2013	2014	2013
Segment operating income (loss)
Building Products	$ 64.9	$ 64.7	$ 122.7	$ 124.0
Resilient Flooring	15.1	17.7	24.5	24.1
Wood Flooring	(2.6)	2.5	2.5	3.0
Unallocated Corporate	(19.6)	(17.3)	(39.4)	(36.5)
Total consolidated operating income	$ 57.8	$ 67.6	$ 110.3	$ 114.6

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2014	2013	2014	2013
Total consolidated operating income	$ 57.8	$ 67.6	$ 110.3	$ 114.6
Interest expense	11.8	11.8	23.4	45.0
Other non-operating expense	1.1	0.7	6.4	0.7
Other non-operating income	(0.7)	(1.4)	(1.3)	(2.7)
Earnings from continuing operations before income taxes	$ 45.6	$ 56.5	$ 81.8	$ 71.6

	June 30, 2014	December 31, 2013
Segment assets
Building Products	$ 1,132.6	$ 1,071.9
Resilient Flooring	690.0	635.2
Wood Flooring	355.9	335.2
Unallocated Corporate	879.6	874.3
Total consolidated assets	$ 3,058.1	$ 2,916.6

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.  In June 2014, we made the decision to dispose of certain idle equipment at five of our wood flooring manufacturing facilities and, as a result we recorded a $4.4 million impairment charge in cost of goods sold.

Our European Resilient Flooring business continues to achieve disappointing operating results.   We are currently evaluating several strategic alternatives for this business.  No decision has been made by management or the Board of Directors at this time, but a decision on which alternative to pursue is possible before the end of 2014. The outcome of these assessments may have an impact on the carrying value of the European Resilient Flooring assets and liabilities.  The carrying value of assets was $187.5 million as of June 30, 2014, with property, plant & equipment of $90.1 million and inventory of $69.5 million representing the significant majority. The carrying value of liabilities was $187.4 million as of June 30, 2014, including an unfunded pension liability of $137.1 million.