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Segment and Geographic Information
12 Months Ended
Oct. 31, 2013
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:

 

   

certain CEO and other finance and human resource departmental costs;

   

certain information technology costs;

   

share-based compensation costs;

   

certain legal costs and settlements;

   

adjustments resulting from current actuarial developments of self-insurance reserves related to claims incurred in prior years; and

   

direct acquisition costs.

 

Financial information for each reportable segment is summarized below:

 

     Years Ended October 31,  
(in thousands)    2013      2012      2011  

Revenues:

        

Janitorial

   $     2,465,312          $     2,394,344          $     2,380,195      

Facility Services

     609,435            576,136            553,295      

Parking

     609,082            615,132            615,679      

Security

     381,472            365,926            350,377      

Building & Energy Solutions

     401,536            348,279            346,086      

Other

     341,516            —            —      

Corporate

     928            448            1,210      
  

 

 

    

 

 

    

 

 

 
   $ 4,809,281          $ 4,300,265          $ 4,246,842      
  

 

 

    

 

 

    

 

 

 

Operating profit:

        

Janitorial

   $ 134,600          $ 135,967          $ 140,621      

Facility Services

     27,431            23,083            24,876      

Parking

     27,537            26,189            24,257      

Security

     12,943            7,835            7,968      

Building & Energy Solutions

     18,662            12,340            12,423      

Other

     12,606            —            —      

Corporate

     (108,579)           (105,390)           (88,662)     

Adjustment for income from unconsolidated affiliates, net,
included in Building & Energy Solutions

     (6,175)           (3,458)           (3,915)     
  

 

 

    

 

 

    

 

 

 
     119,025            96,566            117,568      
  

 

 

    

 

 

    

 

 

 

Other-than-temporary impairment credit losses on auction rate security recognized in earnings

     —            (313)           —      

Income from unconsolidated affiliates, net

     6,319            6,395            3,915      

Interest expense

     (12,892)           (9,999)           (15,805)     
  

 

 

    

 

 

    

 

 

 

Income from continuing operations before income taxes

   $ 112,452          $ 92,649          $ 105,678      
  

 

 

    

 

 

    

 

 

 

Total assets: *

        

Janitorial

   $ 883,358          $ 863,831          $ 859,318      

Facility Services

     211,270            214,557            205,190      

Parking

     141,946            153,593            149,052      

Security

     112,699            111,293            111,304      

Building & Energy Solutions

     296,189            232,079            246,524      

Other

     236,117            —            —      

Corporate

     237,657            275,406            287,909      
  

 

 

    

 

 

    

 

 

 
   $ 2,119,236          $ 1,850,759          $ 1,859,297      
  

 

 

    

 

 

    

 

 

 

* Excludes assets of discontinued operations of $0.4 million and $2.2 million as of October 31, 2012 and 2011, respectively.

 

     Years Ended October 31,  
(in thousands)    2013     2012     2011  

Depreciation and amortization:

      

Janitorial

   $     17,901        $     18,010        $     19,035     

Facility Services

     4,371          4,933          5,247     

Parking

     3,148          3,512          3,644     

Security

     1,036          1,218          1,441     

Building & Energy Solutions

     11,341          8,798          9,967     

Other

     11,588          —          —     

Corporate

     11,005          14,426          13,324     
  

 

 

   

 

 

   

 

 

 
   $ 60,390        $ 50,897        $ 52,658     
  

 

 

   

 

 

   

 

 

 

Capital expenditures:

      

Janitorial

   $ 14,694        $ 12,367        $ 10,048     

Facility Services

     11          23          634     

Parking

     2,523          2,219          2,023     

Security

     173          203          141     

Building & Energy Solutions

     1,226          828          646     

Other

     2,402          —          —     

Corporate

     11,564          12,412          8,632     
  

 

 

   

 

 

   

 

 

 
   $ 32,593        $ 28,052        $ 22,124     
  

 

 

   

 

 

   

 

 

 

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.

 

     Years Ended October 31,  
(in thousands)    2013     2012     2011  

Revenues:

      

United States

   $ 4,710,821        $ 4,253,793        $ 4,198,937     

All other countries

     98,460          46,472          47,905     
  

 

 

   

 

 

   

 

 

 
   $ 4,809,281        $ 4,300,265        $ 4,246,842