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Segment Information
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Segment Information
Segment Information
Effective May 1, 2018, we reorganized our business segments to reflect a new operating structure, resulting in a change to our reporting segments. All prior period amounts related to the segment change have been retrospectively reclassified to conform to the new presentation. As part of this reorganization the legacy Water segment was separated into three reportable business segments:
•
Aquatic Systems — This segment manufactures and sells a complete line of energy-efficient residential and commercial pool equipment and accessories including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment and pool accessories. Applications for our Aquatic Systems products include residential and commercial pool maintenance, pool repair, renovation, service and construction and aquaculture solutions.
•
Filtration Solutions — This segment manufactures and sells water and fluid treatment products and systems, including pressure tanks and vessels, control valves, activated carbon products, conventional filtration products, point-of-entry and point-of-use systems, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration and separation systems into the global residential, industrial and commercial markets. These products are used in a range of applications, including use in fluid filtration, ion exchange, desalination, food and beverage, food service and separation technologies for the oil and gas industry. 
•
Flow Technologies — This segment manufactures and sells products ranging from light duty diaphragm pumps to high-flow turbine pumps and solid handling pumps while serving the global residential, commercial and industrial markets. These pumps are used in a range of applications, including residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, fluid delivery, circulation and transfer, fire suppression, flood control, agricultural irrigation and crop spray.
We evaluate performance based on 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, impairments and other unusual non-operating items.
Financial information by reportable segment is included in the following summary:
 
2018
2017
2016
 
2018
2017
2016
In millions
Net sales
 
Segment income (loss)
Aquatic Systems
$
1,026.1

$
939.6

$
877.8

 
$
277.6

$
254.1

$
217.4

Filtration Solutions
1,001.0

990.6

976.3

 
168.5

154.5

138.4

Flow Technologies
936.7

914.2

923.5

 
145.6

140.6

141.6

Other
1.3

1.3

3.0

 
(54.9
)
(52.7
)
(56.0
)
Consolidated (1)
$
2,965.1

$
2,845.7

$
2,780.6

 
$
536.8

$
496.5

$
441.4


(1) 
One customer in the Aquatic Systems segment, Pool Corporation, represented approximately 15% of our consolidated net sales in 2018, 2017 and 2016.
 
2018
2017
2016
 
2018
2017
2016
 
2018
2017
2016
In millions
Identifiable assets (1)
 
Capital expenditures
 
Depreciation
Aquatic Systems
$
1,304.2

$
1,323.0

$
1,238.0

 
$
10.6

$
9.6

$
12.0

 
$
8.1

$
10.6

$
9.8

Filtration Solutions
1,232.4

1,333.3

1,362.4

 
16.6

19.2

17.8

 
23.2

21.6

23.7

Flow Technologies
1,003.6

1,010.8

865.2

 
10.3

7.3

11.0

 
13.1

13.4

13.3

Other
266.3

4,966.6

8,069.2

 
10.7

3.0

2.5

 
5.3

5.2

6.2

Consolidated
$
3,806.5

$
8,633.7

$
11,534.8

 
$
48.2

$
39.1

$
43.3

 
$
49.7

$
50.8

$
53.0


(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
2018
2017
2016
Segment income
$
536.8

$
496.5

$
441.4

Restructuring and other
(31.8
)
(28.2
)
(7.8
)
Intangible amortization
(34.9
)
(36.4
)
(35.4
)
Pension and other post-retirement mark-to-market (loss) gain
(3.6
)
(8.5
)
12.0

Trade name and other impairment
(12.0
)
(15.6
)
—

Loss on sale of businesses
(7.3
)
(4.2
)
(3.9
)
Loss on early extinguishment of debt
(17.1
)
(101.4
)
—

Interest expense, net
(32.6
)
(87.3
)
(140.1
)
Corporate allocations
(11.0
)
(36.7
)
(39.4
)
Deal related costs and expenses
(2.0
)
—

—

Other expense
(4.7
)
(5.4
)
(5.9
)
Income from continuing operations before income taxes
$
379.8

$
172.8

$
220.9