Segment Information

We classify our operations into the following business segments based primarily on types of products offered and markets served:


•	Water — The Water segment designs, manufactures, markets and services innovative water solutions for the filtration, separation, flow and water management challenges in agriculture, foodservice, food and beverage processing, swimming pools, water supply and disposal and a variety of industrial applications.


•	Electrical — The Electrical segment designs, manufactures, markets, installs and services high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings, and critical processes.


•	Other — Other is primarily composed of unallocated corporate expenses, our captive insurance subsidiary and intermediate finance companies.

The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on the net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Segment income (loss) represents equity income of unconsolidated subsidiaries and operating income 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 included in the following summary:



	2017			2016			2015			2017			2016			2015
In millions	Net sales									Segment income (loss)
Water	$	2,844.4		$	2,777.7		$	2,808.3		$	546.0		$	494.0		$	469.0
Electrical	2,097.9			2,116.0			1,809.3			447.0			447.2			395.0
Other	(5.8		)	(3.7		)	(1.2		)	(95.8		)	(101.7		)	(108.8		)
Consolidated	$	4,936.5		$	4,890.0		$	4,616.4		$	897.2		$	839.5		$	755.2



	2017		2016		2015		2017		2016		2015
In millions	Identifiable assets ⁽¹⁾						Depreciation
Water	$	3,667.1	$	3,465.5	$	3,624.5	$	45.6	$	46.8	$	45.3
Electrical	4,634.1		4,419.3		4,488.4		34.3		31.6		27.6
Other	332.5		3,650.0		3,720.6		5.3		6.2		8.3
Consolidated	$	8,633.7	$	11,534.8	$	11,833.5	$	85.2	$	84.6	$	81.2



	2017		2016		2015
In millions	Capital expenditures
Water	$	36.1	$	40.8	$	41.5
Electrical	31.8		74.5		47.4
Other	3.0		2.5		2.4
Consolidated	$	70.9	$	117.8	$	91.3


(1)	All cash and cash equivalents and assets held for sale are included in "Other."

The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes:



In millions	2017			2016			2015
Segment income	$	897.2		$	839.5		$	755.2
Deal related costs and expenses	—			—			(14.3		)
Inventory step-up	—			—			(35.7		)
Restructuring and other	(30.7		)	(20.6		)	(42.5		)
Separation costs	(53.1		)	—			—
Intangible amortization	(97.7		)	(96.4		)	(68.1		)
Pension and other post-retirement mark-to-market (loss) gain	(1.6		)	(4.2		)	23.0
Trade name and other impairment	(32.0		)	(13.3		)	—
Loss on sale of businesses	(4.2		)	(3.9		)	(3.2		)
Loss on early extinguishment of debt	(101.4		)	—			—
Interest expense, net	(87.3		)	(140.1		)	(101.9		)
Income from continuing operations before income taxes	$	489.2		$	561.0		$	512.5

The following tables present certain geographic information by region:



	2017		2016		2015		2017		2016		2015
In millions	Net sales						Long-lived assets
U.S.	$	2,973.7	$	2,897.1	$	2,634.0	$	301.4	$	309.5	$	285.9
Western Europe	827.2		796.0		727.6		61.7		138.6		150.7
Developing ⁽¹⁾	723.7		704.0		731.6		157.1		65.2		60.3
Other Developed ⁽²⁾	411.9		492.9		523.2		25.3		25.3		42.9
Consolidated	$	4,936.5	$	4,890.0	$	4,616.4	$	545.5	$	538.6	$	539.8
(1) - Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia.
(2) - Other Developed includes Australia, Canada and Japan.

Net sales are based on the geographic destination of the sale. Long-lived assets represent property, plant and equipment, net of related depreciation. Net sales shipped to and long-lived assets held in Ireland for each year presented above were not material.

We offer a broad array of products and systems to multiple markets and customers for which we do not have the information systems to track revenues by primary product category. However, our net sales by segment are representative of our sales by major product category. We sell our products through various distribution channels including wholesale and retail distributors, original equipment manufacturers and home centers. No customer accounted for more than 10% of net sales in 2017, 2016, or 2015.