Segment and Geographic Information |
SEGMENT AND GEOGRAPHIC INFORMATION Segment Information Our current reportable segments consist of B&I, T&M, Education, Aviation, and Technical Solutions, as further described below. The newly acquired Able is integrated within our B&I reportable segment. | | | | | | REPORTABLE SEGMENTS AND DESCRIPTIONS | B&I | B&I, our largest reportable segment, encompasses janitorial, facilities services, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers. | T&M | T&M provides janitorial, facilities services, and parking services to industrial and high-tech manufacturing facilities. | Education | Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities. | Aviation | Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation. | Technical Solutions | Technical Solutions specializes in mechanical and electrical services. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally. |
The accounting policies for our segments are the same as those disclosed within our significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies.” Our management evaluates the performance of each reportable segment based on its respective operating profit results, which include the allocation of certain centrally incurred costs. Corporate expenses not allocated to segments include certain CEO and other finance and human resource departmental expenses, certain information technology costs, share-based compensation, certain legal costs and settlements, restructuring and related costs, certain actuarial adjustments to self-insurance reserves, and direct acquisition costs. Management does not review asset information by segment, therefore we do not present assets in this note. Financial Information by Reportable Segment | | | | | | | | | | | | | | | | | | | Years Ended October 31, | (in millions) | 2021 | | 2020 | | 2019 | Revenues | | | | | | Business & Industry | $ | 3,346.5 | | | $ | 3,157.8 | | | $ | 3,251.4 | | Technology & Manufacturing | 987.1 | | | 956.0 | | | 917.0 | | Education | 836.4 | | | 808.8 | | | 847.4 | | Aviation | 668.8 | | | 680.9 | | | 1,017.3 | | Technical Solutions | 534.0 | | | 506.6 | | | 593.2 | | | | | | | | Elimination of inter-segment revenues | (144.2) | | | (122.4) | | | (127.7) | | | $ | 6,228.6 | | | $ | 5,987.6 | | | $ | 6,498.6 | | Operating profit | | | | | | Business & Industry | $ | 337.8 | | | $ | 253.7 | | | $ | 182.3 | | Technology & Manufacturing | 103.8 | | | 84.4 | | | 72.5 | | Education(1) | 60.5 | | | (41.1) | | | 39.0 | | Aviation(2) | 32.5 | | | (59.6) | | | 21.1 | | Technical Solutions(3) | 49.8 | | | 9.5 | | | 55.4 | | Government Services | (0.2) | | | (0.1) | | | (0.1) | | Corporate(4) | (374.6) | | | (146.9) | | | (159.0) | | Adjustment for income from unconsolidated affiliates, included in Aviation | (2.1) | | | (2.2) | | | (3.0) | | Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions | (1.2) | | | (2.1) | | | 0.1 | | | 206.3 | | | 95.7 | | | 208.3 | | Income from unconsolidated affiliates | 2.1 | | | 2.2 | | | 3.0 | | Interest expense | (28.6) | | | (44.6) | | | (51.1) | | Income from continuing operations before income taxes | $ | 179.8 | | | $ | 53.3 | | | $ | 160.2 | | | | | | | | Depreciation and amortization | | | | | | Business & Industry | $ | 20.4 | | | $ | 18.9 | | | $ | 21.3 | | Technology & Manufacturing | 11.3 | | | 12.5 | | | 14.3 | | Education | 30.6 | | | 33.8 | | | 37.3 | | Aviation | 9.1 | | | 10.6 | | | 11.9 | | Technical Solutions | 5.9 | | | 7.2 | | | 8.6 | | | | | | | | Corporate | 12.7 | | | 13.5 | | | 13.9 | | | $ | 89.9 | | | $ | 96.4 | | | $ | 107.4 | |
(1) Reflects impairment charges totaling $99.3 million on goodwill during the year ended October 31, 2020. (2) Reflects impairment charges totaling $61.1 million on goodwill and intangible assets during the year ended October 31, 2020. (3) Reflects impairment charges totaling $12.4 million on goodwill and intangible assets during the year ended October 31, 2020. (4) Reflects accrued litigation settlement reserve totaling $142.9 million for the Bucio case during the year ended October 31, 2021 Geographic Information Based on the Country in Which the Sale Originated(1) | | | | | | | | | | | | | | | | | | | Years Ended October 31, | (in millions) | 2021 | | 2020 | | 2019 | Revenues | | | | | | United States | $ | 5,847.8 | | | $ | 5,625.1 | | | $ | 6,025.2 | | All other countries | 380.8 | | | 362.5 | | | 473.3 | | | $ | 6,228.6 | | | $ | 5,987.6 | | | $ | 6,498.6 | |
(1) Substantially all of our long-lived assets are related to United States operations.
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