Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment InformationWe 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 and transformation activities, impairments and other unusual non-operating items.

Financial information by reportable segment is as follows:

	Three months ended				Six months ended
In millions	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Net sales
Consumer Solutions	$	576.9	$	401.2	$	1,098.3	$	790.0
Industrial & Flow Technologies	363.9		311.8		708.0		632.7
Other	0.3		0.3		0.7		0.6
Consolidated	$	941.1	$	713.3	$	1,807.0	$	1,423.3
Segment income (loss)
Consumer Solutions	$	143.4	$	96.7	$	274.4	$	181.5
Industrial & Flow Technologies	57.1		44.1		107.1		88.8
Other	(25.6)		(16.1)		(42.2)		(34.1)
Consolidated	$	174.9	$	124.7	$	339.3	$	236.2

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

	Three months ended				Six months ended
In millions	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Segment income	$	174.9	$	124.7	$	339.3	$	236.2
Deal-related costs and expenses	(1.0)		—		(1.7)		(0.4)
Restructuring, transformation and other costs	(5.8)		(1.1)		(7.3)		(3.5)
Intangible amortization	(6.3)		(7.0)		(13.4)		(14.6)
Loss on sale of businesses	—		(0.1)		—		(0.1)
COVID-19 related costs and expenses	(0.1)		(4.8)		(0.3)		(5.7)
Legal accrual adjustments	—		—		2.4		—
Net interest expense	(3.8)		(7.7)		(8.9)		(14.6)
Other expense	(0.2)		(0.4)		(0.8)		(1.1)
Income from continuing operations before income taxes	$	157.7	$	103.6	$	309.3	$	196.2