EX-99.1 2 segmentrecastreleaseandtab.htm EXHIBIT 99.1 Segment Recast Release and Tables


Exhibit 99.1




Mohawk Industries, Inc.
Updated historical financial information based on new business segments

During the second quarter of 2015, the Company realigned its reportable segments to reflect how the company’s results will be reported by management. The Company has organized its carpet, wood, laminate and vinyl operations by geography into the Flooring North American segment and Rest of the World (“ROW”) segment with no change in the Global Ceramic segment.

The following summary describes each of the segments:

Flooring North America Segment includes North American operations in all product categories except ceramic. The new segment combines the former Carpet segment with the North American operations of the former Laminate and Wood segment as well as the North American operations of the recently acquired IVC Group.

Flooring ROW Segment includes operations outside of North America in all product categories except ceramic. The new segment combines the European and ROW operations of the former Laminate and Wood segment with the non-North American operations of the recently acquired IVC Group.

Global Ceramic Segment includes all worldwide ceramic operations, including the operations of the recently acquired KAI Group. There is no change in this segment.








As a result of the change in segment reporting, all historical financial information has been recasted to conform to the following new presentation:

MOHAWK INDUSTRIES, INC. AND SUBSIDIARIES
Unaudited
(Amounts in thousands)
Recasted segments:
 
Flooring North America
Global Ceramic
Flooring ROW
Corporate/ Eliminations
Mohawk Consolidated
Year ended December 31, 2013
Net Sales
$
3,423,093

$
2,677,058

$
1,249,279

$
(676
)
$
7,348,754

Operating Income/(Expense)
259,753

209,825

107,850

(30,497
)
546,931

Restructuring, acquisition and integration-related costs
19,172

73,916

48,667

1,225

142,980

Adjusted Operating Income/(Expense)
$
278,925

$
283,741

$
156,517

$
(29,272
)
$
689,911

Quarter ended March 29, 2014
Net Sales
$
780,331

$
695,094

$
338,067

$
(397
)
$
1,813,095

Operating Income/(Expense)
47,353

60,659

31,465

(8,742
)
130,735

Restructuring, acquisition and integration-related costs
569

1,980

9,007

169

11,725

Adjusted Operating Income/(Expense)
$
47,922

$
62,639

$
40,472

$
(8,573
)
$
142,460

Quarter ended June 28, 2014
Net Sales
$
895,912

$
796,724

$
357,738

$
(2,127
)
$
2,048,247

Operating Income/(Expense)
76,602

106,407

47,398

(8,159
)
222,248

Restructuring, acquisition and integration-related costs
869

196

9,904

200

11,169

Adjusted Operating Income/(Expense)
$
77,471

$
106,603

$
57,302

$
(7,959
)
$
233,417

Quarter ended September 27, 2014
Net Sales
$
886,317

$
779,842

$
326,146

$
(1,647
)
$
1,990,658

Operating Income/(Expense)
83,623

101,254

35,046

(6,230
)
213,693

Restructuring, acquisition, integration-related and legal reserve costs
10,578

4,248

8,437

750

24,013

Adjusted Operating Income/(Expense)
$
94,201

$
105,502

$
43,483

$
(5,480
)
$
237,706

Quarter ended December 31, 2014
Net Sales
$
878,458

$
743,619

$
332,068

$
(2,699
)
$
1,951,446

Operating Income/(Expense)
92,414

82,793

37,618

(6,705
)
206,120

Restructuring, acquisition and integration-related costs
2,594

2,905

8,829

367

14,695

Adjusted Operating Income/(Expense)
$
95,008

$
85,698

$
46,447

$
(6,338
)
$
220,815

Year ended December 31, 2014
Net Sales
$
3,441,018

$
3,015,279

$
1,354,018

$
(6,869
)
$
7,803,446

Operating Income/(Expense)
299,992

351,113

151,528

(29,837
)
772,796

Restructuring, acquisition, integration-related and legal reserve costs
14,610

9,330

36,177

1,487

61,604

Adjusted Operating Income/(Expense)
$
314,602

$
360,443

$
187,705

$
(28,350
)
$
834,400

Quarter ended April 4, 2015
Net Sales
$
846,911

$
719,828

$
314,742

$
(304
)
$
1,881,177

Operating Income/(Expense)
(75,192
)
85,327

44,641

(11,002
)
43,774

Restructuring, acquisition and integration-related costs
130,825

362

5,155

1,187

137,529

Adjusted Operating Income/(Expense)
$
55,633

$
85,689

$
49,796

$
(9,815
)
$
181,303


The Company believes it is useful for itself and investors to review, as applicable, both GAAP and the above non-GAAP measures in order to assess the performance of the Company's business for planning and forecasting in subsequent periods. In particular, the Company believes excluding the impact of restructuring, acquisition, integration-related and legal reserve costs is useful because it allows investors to evaluate our performance for different periods on a more comparable basis.