Segment Reporting

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Reporting

Note 10.  Segment Reporting

The Company is organized based on the products and services it offers. The Company’s reportable segments, which are also its operating segments, are comprised of commercial aircraft and business jet. Each segment regularly reports its results of operations and makes requests for capital expenditures and acquisition funding to the Company’s chief operational decision-making group. This group is comprised of the Executive Chairman of the Board of Directors, the President and Chief Executive Officer and the Vice President and Chief Financial Officer. Each operating segment has separate management teams and infrastructures dedicated to providing a full range of products and services to their commercial, business jet, military, maintenance, repair and overhaul providers, aircraft leasing and aircraft manufacturing customers. The Company has not included product line information due to the similarity of commercial aircraft segment product offerings.

The following table presents revenues and operating earnings by reportable segment:

	Three months ended				Six months ended
	June 30,				June 30,
	2016		2015		2016		2015
Revenues:
Commercial aircraft	$	610.8	$	539.3	$	1,167.8	$	1,065.4
Business jet		142.3		161.3		302.0		325.2
	$	753.1	$	700.6	$	1,469.8	$	1,390.6
Operating earnings(1)
Commercial aircraft	$	114.6	$	99.7	$	219.3	$	198.1
Business jet		22.0		27.6		46.7		54.9
Operating earnings		136.6		127.3		266.0		253.0
Interest expense, net		22.7		24.1		45.8		48.4
Earnings before income taxes	$	113.9	$	103.2	$	220.2	$	204.6

(1) Operating earnings includes an allocation of corporate IT costs, employee benefits and general and administrative costs based on the proportion of each segment’s systems users, number of employees and sales, respectively.

The following table presents capital expenditures(1) by reportable segment:

	Three months ended				Six months ended
	June 30,				June 30,
	2016		2015		2016		2015
Commercial aircraft	$	14.3	$	13.3	$	29.4	$	36.5
Business jet		4.2		9.4		6.7		11.5
	$	18.5	$	22.7	$	36.1	$	48.0

(1) Corporate capital expenditures have been allocated to the above segments in a manner consistent with our corporate expense allocations.

The following table presents goodwill and total assets(1) by reportable segment:

	June 30, 2016						December 31, 2015
	Commercial		Business				Commercial		Business
	Aircraft		Jet		Consolidated		Aircraft		Jet		Consolidated
Goodwill	$	372.3	$	441.0	$	813.3	$	372.6	$	440.6	$	813.2
Total assets		2,251.9		1,000.2		3,252.1		2,120.5		1,020.4		3,140.9

(1) Corporate assets (including cash and cash equivalents) of $275.5 and $322.2 at June 30, 2016 and December 31, 2015, respectively, have been allocated to the above segments in a manner consistent with our corporate expense allocations.