Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Information

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Net Sales
Americas	$	900.9	$	978.5	$	926.8
EMEA		442.3		445.5		546.4
Asia-Pacific		55.2		43.7		40.5
Consolidated net sales	$	1,398.4	$	1,467.7	$	1,513.7
Operating income (loss)
Americas	$	127.1	$	109.9	$	110.3
EMEA		40.8		(98.6)		37.5
Asia-Pacific		14.3		(0.5)		(6.5)
Subtotal reportable segments		182.2		10.8		141.3
Corporate(*)		(37.2)		(100.9)		(35.9)
Consolidated operating income (loss)		145.0		(90.1)		105.4
Interest income		(1.0)		(1.0)		(0.7)
Interest expense		22.6		24.3		19.9
Other (income) expense, net		(4.4)		(2.4)		3.1
Income (loss) before income taxes	$	127.8	$	(111.0)	$	83.1
Identifiable assets (at end of period)
Americas	$	1,093.7	$	970.7	$	1,014.8
EMEA		582.0		607.7		787.5
Asia-Pacific		124.6		112.4		145.7
Consolidated identifiable assets	$	1,800.3	$	1,690.8	$	1,948.0
Property, plant and equipment, net (at end of period)
Americas	$	106.2	$	88.6	$	90.1
EMEA		75.9		82.3		100.1
Asia-Pacific		7.6		13.5		13.1
Consolidated long-lived assets	$	189.7	$	184.4	$	203.3
Capital Expenditures
Americas	$	25.7	$	19.0	$	10.9
EMEA		9.2		7.5		11.6
Asia-Pacific		1.1		1.2		1.2
Consolidated capital expenditures	$	36.0	$	27.7	$	23.7
Depreciation and Amortization
Americas	$	28.8	$	29.0	$	20.1
EMEA		19.4		21.1		25.8
Asia-Pacific		3.0		2.3		2.2
Consolidated depreciation and amortization	$	51.2	$	52.4	$	48.1

*     Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs. Included in Corporate’s operating loss for 2015 is a $59.7 million charge related to the Company’s settlement of its Pension Plan and SERP benefit obligations. Refer to Note 13 Defined Benefit Plans for further discussion.

Schedule of U.S. net sales of the Company's Americas segment

	December 31,
	2016		2015		2014
	(in millions)
U.S. net sales	$	839.2	$	909.2	$	849.0
U.S. property, plant and equipment, net (at end of year)	$	102.5	$	85.2	$	86.0

Schedule of intersegment sales for Americas, EMEA and Asia-Pacific

	December 31,
	2016		2015		2014
	(in millions)
Intersegment Sales
Americas	$	12.0	$	8.2	$	6.3
EMEA		11.8		9.8		13.3
Asia-Pacific		77.9		110.9		155.3
Intersegment sales	$	101.7	$	128.9	$	174.9

Schedule of net sales to third parties for the four product categories

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Net Sales
Residential & commercial flow control	$	779.2	$	831.1	$	930.3
HVAC & gas		408.1		425.1		356.2
Drains & water re-use		132.3		131.0		144.0
Water quality		78.8		80.5		83.2
Consolidated net sales	$	1,398.4	$	1,467.7	$	1,513.7