Segment and Geographic Information |
16. SEGMENT AND GEOGRAPHIC INFORMATION
Segment Information
Our reportable segments consist of: Janitorial,
Facility Services, Parking, Security, Building & Energy
Solutions, and Other. See Note 2, “Basis of
Presentation,” for additional information regarding our new
segment structure. Prior period segment results have been restated
to conform to the new segment reporting structure, effective in the
first quarter of 2013.
The accounting policies for our segments are the
same as those disclosed within our significant accounting policies.
Management evaluates the performance of each operating segment
based on its respective operating profit results, which include the
allocation of certain centrally incurred costs. Corporate expenses
not allocated to segments, among other items, include:
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certain CEO and other finance and human resource
departmental costs;
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certain information technology costs;
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share-based compensation costs;
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certain legal costs and settlements;
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adjustments resulting from current actuarial developments
of self-insurance reserves related to claims incurred in prior
years; and
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direct acquisition costs.
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Financial information for each reportable segment
is summarized below:
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Years Ended
October 31, |
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(in
thousands) |
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2013 |
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2012 |
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2011 |
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Revenues:
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Janitorial
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$ |
2,465,312 |
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$ |
2,394,344 |
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$ |
2,380,195 |
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Facility Services
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609,435 |
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576,136 |
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553,295 |
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Parking
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609,082 |
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615,132 |
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615,679 |
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Security
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381,472 |
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365,926 |
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350,377 |
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Building & Energy Solutions
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401,536 |
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348,279 |
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346,086 |
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Other
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341,516 |
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— |
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— |
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Corporate
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928 |
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448 |
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1,210 |
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$ |
4,809,281 |
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$ |
4,300,265 |
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$ |
4,246,842 |
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Operating profit:
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Janitorial
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$ |
134,600 |
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$ |
135,967 |
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$ |
140,621 |
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Facility Services
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27,431 |
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23,083 |
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24,876 |
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Parking
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27,537 |
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26,189 |
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24,257 |
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Security
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12,943 |
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7,835 |
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7,968 |
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Building & Energy Solutions
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18,662 |
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12,340 |
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12,423 |
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Other
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12,606 |
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— |
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— |
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Corporate
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(108,579) |
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(105,390) |
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(88,662) |
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Adjustment for income from unconsolidated affiliates, net,
included in Building & Energy Solutions
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(6,175) |
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(3,458) |
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(3,915) |
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119,025 |
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96,566 |
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117,568 |
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Other-than-temporary impairment credit losses on auction rate
security recognized in earnings
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— |
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(313) |
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— |
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Income from unconsolidated affiliates, net
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6,319 |
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6,395 |
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3,915 |
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Interest expense
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(12,892) |
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(9,999) |
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(15,805) |
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Income from continuing operations before income taxes
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$ |
112,452 |
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$ |
92,649 |
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$ |
105,678 |
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Total assets: *
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Janitorial
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$ |
883,358 |
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$ |
863,831 |
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$ |
859,318 |
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Facility Services
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211,270 |
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214,557 |
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205,190 |
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Parking
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141,946 |
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153,593 |
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149,052 |
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Security
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112,699 |
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111,293 |
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111,304 |
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Building & Energy Solutions
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296,189 |
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232,079 |
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246,524 |
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Other
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236,117 |
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— |
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— |
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Corporate
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237,657 |
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275,406 |
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287,909 |
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$ |
2,119,236 |
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$ |
1,850,759 |
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$ |
1,859,297 |
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* Excludes assets of discontinued operations of
$0.4 million and $2.2 million as of October 31, 2012 and 2011,
respectively.
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Years Ended
October 31, |
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(in
thousands) |
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2013 |
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2012 |
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2011 |
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Depreciation and amortization:
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Janitorial
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$ |
17,901 |
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$ |
18,010 |
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$ |
19,035 |
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Facility Services
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4,371 |
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4,933 |
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5,247 |
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Parking
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3,148 |
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3,512 |
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3,644 |
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Security
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1,036 |
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1,218 |
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1,441 |
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Building & Energy Solutions
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11,341 |
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8,798 |
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9,967 |
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Other
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11,588 |
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— |
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Corporate
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11,005 |
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14,426 |
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13,324 |
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$ |
60,390 |
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$ |
50,897 |
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$ |
52,658 |
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Capital expenditures:
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Janitorial
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$ |
14,694 |
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$ |
12,367 |
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$ |
10,048 |
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Facility Services
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11 |
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23 |
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|
634 |
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Parking
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2,523 |
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2,219 |
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2,023 |
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Security
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|
173 |
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203 |
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|
141 |
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Building & Energy Solutions
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1,226 |
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828 |
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|
646 |
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Other
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2,402 |
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— |
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Corporate
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11,564 |
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12,412 |
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8,632 |
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$ |
32,593 |
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$ |
28,052 |
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$ |
22,124 |
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Geographic Information
Revenues by geographic region are summarized below
based on the country in which the sale originated. Substantially
all of our long-lived assets are related to United States
operations.
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Years Ended
October 31, |
|
(in
thousands) |
|
2013 |
|
|
2012 |
|
|
2011 |
|
Revenues:
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United States
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$ |
4,710,821 |
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$ |
4,253,793 |
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$ |
4,198,937 |
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All other countries
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98,460 |
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46,472 |
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47,905 |
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$ |
4,809,281 |
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$ |
4,300,265 |
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$ |
4,246,842 |
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