Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information

Segment Information

We evaluate performance based on net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. During the third quarter of 2015, we updated our segment income (loss) measure to exclude intangible amortization in order to better reflect the performance of our reporting segments. Segment income (loss) represents equity income of unconsolidated subsidiaries and operating income (loss) exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring activities, "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items.

Financial information by reportable segment is as follows:

	Three months ended
In millions	March 31, 2016			March 28, 2015
Net sales
Water Quality Systems	$	331.5		$	306.9
Flow & Filtration Solutions	337.7			350.1
Technical Solutions	524.6			395.8
Valves & Controls	387.0			429.2
Other	(5.3		)	(7.0		)
Consolidated	$	1,575.5		$	1,475.0
Segment income (loss)
Water Quality Systems	$	61.7		$	51.8
Flow & Filtration Solutions	39.5			36.4
Technical Solutions	112.8			77.6
Valves & Controls	25.3			55.4
Other	(29.5		)	(21.9		)
Consolidated	$	209.8		$	199.3

The following table presents a reconciliation of consolidated segment income to consolidated operating income:

	Three months ended
In millions	March 31, 2016			March 28, 2015
Segment income	$	209.8		$	199.3
Restructuring and other	(0.7		)	—
Intangible amortization	(37.6		)	(27.6		)
Equity income of unconsolidated subsidiaries	(0.9		)	(0.5		)
Operating income	$	170.6		$	171.2