Segment information (Tables)

9 Months Ended

Sep. 30, 2022

Reconciliation of Revenue and Operating Profit from Segments to Consolidated

The following table summarizes our revenues and segment profit for each of our reportable segments and reconciles these amounts to consolidated revenues and operating profit:



	Revenues			Operating Profit
	Three Months Ended September 30,			Three Months Ended September 30,
(In millions)	2022		2021	2022		2021
Reportable Segments:
North America	$	400.6	360.7	38.2		25.0
Latin America	301.1		289.3	66.5		64.6
Europe	220.0		238.0	25.9		28.1
Rest of World	215.0		187.5	48.3		31.9
Total reportable segments	1,136.7		1,075.5	178.9		149.6

Reconciling Items:
Corporate expenses:
General, administrative and other expenses	—		—	(57.0)		(34.8)
Foreign currency transaction gains (losses)	—		—	3.6		1.4
Reconciliation of segment policies to GAAP(a)	—		—	1.3		(0.3)
Other items not allocated to segments:
Reorganization and Restructuring(b)	—		—	(19.6)		(14.0)
Acquisitions and dispositions(c)	—		—	(35.7)		(16.6)
Argentina highly inflationary impact(d)	—		—	(12.0)		(2.3)
Change in allowance estimate(e)	—		—	0.3		—
Chile antitrust matter(f)	—		—	(0.3)		(9.5)
Internal loss(g)	—		—	—		0.7

Total	$	1,136.7	1,075.5	$	59.5	74.2


	Revenues			Operating Profit
	Nine Months Ended September 30,			Nine Months Ended September 30,
(In millions)	2022		2021	2022		2021
Reportable Segments:
North America	$	1,171.0	1,034.6	96.7		98.4
Latin America	898.7		831.8	194.2		180.4
Europe	668.8		683.2	63.1		57.4
Rest of World	606.1		552.4	120.9		94.2
Total reportable segments	3,344.6		3,102.0	474.9		430.4

Reconciling Items:
Corporate expenses:
General, administrative and other expenses	—		—	(125.4)		(103.4)
Foreign currency transaction gains (losses)	—		—	9.4		1.4
Reconciliation of segment policies to GAAP(a)	—		—	4.0		(11.8)
Other items not allocated to segments:
Reorganization and Restructuring(b)	—		—	(34.0)		(35.7)
Acquisitions and dispositions(c)	—		—	(66.3)		(55.8)
Argentina highly inflationary impact(d)	—		—	(27.1)		(8.8)
Change in allowance estimate(e)	—		—	(16.0)		—
Chile antitrust matter(f)	—		—	(1.1)		(9.5)
Internal loss(g)	—		—	—		2.4

Total	$	3,344.6	3,102.0	$	218.4	209.2

(a)This line item includes adjustments to bad debt expense and a Mexico profit sharing plan accrual reported by the segments to the estimated consolidated amounts required by U.S. GAAP.

(b)Management periodically implements restructuring actions in targeted sections of our business. Due to the unique circumstances around the charges related to these actions, they have not been allocated to segment results.

(c)Certain acquisition and disposition items that are not considered part of the ongoing activities of the business and are special in nature are consistently excluded from segment results. These items include amortization expense for acquisition-related intangible assets and integration, transaction and restructuring costs related to business acquisitions.

(d)We have designated Argentina's economy as highly inflationary for accounting purposes. Currency remeasurement gains and losses related to peso-denominated monetary assets and liabilities as well as incremental expense related to nonmonetary assets are excluded from segment results.

(e)Represents impact of a change in our methodology to estimate our allowance for doubtful accounts in the first quarter of 2022. See Note 1 and Note 10 for further details.

(f)See details regarding the Chile antitrust matter at Note 14.

(g)Represents net credits related to an internal loss in our U.S. global services operations. The credits result from collection of previously reserved accounts receivable.