Segment Information

3 Months Ended

Mar. 31, 2013

Segment Reporting Information, Additional Information [Abstract]

Segment Information

Segment Information

During the three months ended March 31, 2013, the Company committed to a plan to divest the Hardware and Teach businesses, which were primarily included in the Specialty segment. Accordingly, the results of operations of these businesses were classified as discontinued operations. See Footnote 2 for further details. During March 2013, the remaining businesses in the former Specialty segment, specifically Dymo^® Office and Endicia^®, were combined with the Writing segment given the significant channel and operating synergies.

As a result of these changes, the 2012 segment information in this footnote and Footnote 4 pertaining to restructuring have been presented to reflect five business segments, including the impacts of classifying the Hardware and Teach businesses as discontinued operations.

The Company’s reportable segments are as follows:

Segment	Key Brands	Description of Primary Products
Writing	Sharpie®, Paper Mate®, Expo®, Parker®, Waterman®, Dymo® Office, Endicia®	Writing instruments, including markers and highlighters, pens and pencils; art products; fine writing instruments; office technology solutions, including labeling and on-line postage solutions
Home Solutions	Rubbermaid®, Calphalon®, Levolor®, Goody®	Indoor/outdoor organization, food storage and home storage products; gourmet cookware, bakeware, cutlery and small kitchen electrics; window treatments; hair care accessories
Tools	Irwin®, Lenox®, Dymo® Industrial, Hilmor™	Hand tools and power tool accessories; industrial bandsaw blades; cutting tools for pipes and HVAC systems; label makers and printers for industrial use
Commercial Products	Rubbermaid Commercial Products®, Rubbermaid® Healthcare	Cleaning and refuse products, hygiene systems, material handling solutions; medical and computer carts and wall-mounted workstations
Baby & Parenting	Graco®, Aprica®, Teutonia®	Infant and juvenile products such as car seats, strollers, highchairs and playards

The comparative information for segment results and identifiable assets has been restated to conform to the 2013 presentation and is as follows (in millions):

	Three Months Ended
	March 31,
	2013			2012
Net Sales (1)
Writing	$	340.6		$	375.6
Home Solutions	338.9			326.7
Tools	188.6			190.6
Commercial Products	183.1			175.4
Baby & Parenting	189.6			182.2
	$	1,240.8		$	1,250.5
Operating Income (Loss) (2)
Writing	$	63.2		$	66.4
Home Solutions	34.1			30.9
Tools	18.7			28.7
Commercial Products	21.6			18.6
Baby & Parenting	23.9			22.4
Restructuring costs	(34.4		)	(12.1		)
Corporate	(29.3		)	(31.7		)
	$	97.8		$	123.2

Net sales of the former Specialty segment, excluding operations classified as discontinued operations, were $73.5 million and $85.5 million for the three months ended March 31, 2013 and 2012, respectively, and operating income was $19.6 million and $26.4 million, respectively.

	March 31, 2013		December 31, 2012
Identifiable Assets
Writing	$	994.5	$	1,145.2
Home Solutions	556.3		573.2
Tools	578.0		562.8
Commercial Products	351.3		348.8
Baby & Parenting	298.5		312.7
Corporate (3)	3,418.6		3,279.3
	$	6,197.2	$	6,222.0

Geographic Area Information

	Three Months Ended
	March 31,
(in millions)	2013			2012
Net Sales (1), (4)
United States	$	818.9		$	794.9
Canada	61.8			64.9
Total North America	880.7			859.8
Europe, Middle East and Africa	167.1			202.7
Latin America	93.2			76.5
Asia Pacific	99.8			111.5
Total International	360.1			390.7
	$	1,240.8		$	1,250.5
Operating Income (Loss) (2), (5)
United States	$	81.0		$	71.1
Canada	10.2			12.0
Total North America	91.2			83.1
Europe, Middle East and Africa	(14.8		)	23.5
Latin America	7.3			(6.7		)
Asia Pacific	14.1			23.3
Total International	6.6			40.1
	$	97.8		$	123.2

(1) All intercompany transactions have been eliminated. Sales to Wal-Mart Stores, Inc. and subsidiaries amounted to approximately 9.6% and 9.1% of consolidated net sales in the three months ended March 31, 2013 and 2012, respectively.

(2) Operating income (loss) by segment is net sales less cost of products sold and selling, general & administrative (“SG&A”) expenses for continuing operations. Operating income by geographic area is net sales less cost of products sold, SG&A expenses, restructuring costs and impairment charges, if any, for continuing operations. Certain headquarters expenses of an operational nature are allocated to business segments and geographic areas primarily on a net sales basis. Depreciation and amortization is allocated to the segments on a percentage of sales basis, and the allocated depreciation and amortization is included in segment operating income.

(3) Corporate assets primarily include goodwill, capitalized software, cash, deferred tax assets and assets held for sale.

(4) Geographic sales information is based on the region from which the products are shipped and invoiced.

(5) The following table summarizes the restructuring costs by region included in operating income (loss) above (in millions):

	Three Months Ended
	March 31,
	2013		2012
Restructuring Costs
United States	$	5.7	$	9.8
Canada	—		0.5
Total North America	5.7		10.3
Europe, Middle East and Africa	26.2		1.2
Latin America	2.5		0.2
Asia Pacific	—		0.4
Total International	28.7		1.8
	$	34.4	$	12.1