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Segment Results
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Results

NOTE 2. SEGMENT RESULTS

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Net sales

 

 

 

 

 

 

 

 

Mineral Fiber

 

$

188.7

 

 

$

197.7

 

Architectural Specialties

 

 

63.2

 

 

 

51.0

 

Total net sales

 

$

251.9

 

 

$

248.7

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Segment operating income (loss)

 

 

 

 

 

 

 

 

Mineral Fiber

 

$

60.6

 

 

$

70.0

 

Architectural Specialties

 

 

(4.9

)

 

 

7.5

 

Unallocated Corporate

 

 

(1.6

)

 

 

(1.5

)

Total consolidated operating income

 

$

54.1

 

 

$

76.0

 

 

The Architectural Specialties operating loss for the three months ended March 31, 2021 was driven by intangible asset amortization and other acquisition-related expenses related to our acquisitions of Turf, Moz and Arktura in 2020. See Note 4 for additional information related to our acquisitions.

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Total consolidated operating income

 

$

54.1

 

 

$

76.0

 

Interest expense

 

 

5.7

 

 

 

6.7

 

Other non-operating (income) expense, net

 

 

(1.3

)

 

 

369.4

 

Earnings (loss) from continuing operations before income taxes

 

$

49.7

 

 

$

(300.1

)

 

 

 

March 31, 2021

 

 

December 31, 2020

 

Segment assets

 

 

 

 

 

 

 

 

Mineral Fiber

 

$

1,116.9

 

 

$

1,101.1

 

Architectural Specialties

 

 

354.5

 

 

 

357.7

 

Unallocated Corporate

 

 

243.9

 

 

 

259.7

 

Total consolidated assets

 

$

1,715.3

 

 

$

1,718.5