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Segment Results (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Schedule of Net Sales to External Customers

Our reportable operating segments consist of the following three distinct geographical segments:  Americas (including Canada); Europe, Middle East and Africa (including Russia) (“EMEA”); and Pacific Rim.  Balance sheet items classified as Unallocated Corporate primarily include cash and cash equivalents, the estimated fair value of interest rate swap contracts and outstanding borrowings under our senior credit facilities.  The majority of expenses for our corporate support functions are allocated to our Americas segment.  

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

233.8

 

 

$

226.0

 

 

$

679.2

 

 

$

640.9

 

EMEA

 

 

76.5

 

 

 

74.2

 

 

 

211.8

 

 

 

199.4

 

Pacific Rim

 

 

41.6

 

 

 

34.7

 

 

 

107.1

 

 

 

96.3

 

Total net sales to external customers

 

$

351.9

 

 

$

334.9

 

 

$

998.1

 

 

$

936.6

 

 

Schedule of Segment Operating Income (Loss)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Segment operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

67.6

 

 

$

68.6

 

 

$

214.7

 

 

$

189.0

 

EMEA

 

 

3.8

 

 

 

4.1

 

 

 

(1.1

)

 

 

(5.2

)

Pacific Rim

 

 

(2.4

)

 

 

1.0

 

 

 

(3.2

)

 

 

(2.4

)

Unallocated Corporate

 

 

-

 

 

 

(2.7

)

 

 

-

 

 

 

(37.1

)

Total consolidated operating income

 

$

69.0

 

 

$

71.0

 

 

$

210.4

 

 

$

144.3

 

 

Reconciliation of Total Consolidated Operating Income to Earnings Before Income Taxes

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Total consolidated operating income

 

$

69.0

 

 

$

71.0

 

 

$

210.4

 

 

$

144.3

 

Interest expense

 

 

9.1

 

 

 

9.0

 

 

 

27.5

 

 

 

43.4

 

Other non-operating expense

 

 

1.7

 

 

 

-

 

 

 

3.6

 

 

 

-

 

Other non-operating (income)

 

 

(3.0

)

 

 

(1.6

)

 

 

(7.4

)

 

 

(8.9

)

Earnings from continuing operations before income taxes

 

$

61.2

 

 

$

63.6

 

 

$

186.7

 

 

$

109.8

 

 

Reconciliation of Total Segment Assets to Total Consolidated Assets

 

 

 

September 30, 2017

 

 

December 31, 2016

 

Segment assets

 

 

 

 

 

 

 

 

Americas

 

$

1,256.7

 

 

$

1,186.7

 

EMEA

 

 

303.2

 

 

 

275.5

 

Pacific Rim

 

 

145.0

 

 

 

145.0

 

Unallocated Corporate

 

 

124.8

 

 

 

150.8

 

Total consolidated assets

 

$

1,829.7

 

 

$

1,758.0