Segment Information

3 Months Ended

Apr. 03, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The chief operating decision maker ("CODM") evaluates segment performance and allocates resources based on segment operating income. Segment operating income represents income from continuing operations before interest income, interest expense, other income (expense), other financial costs and income tax. Effective in the fourth quarter of 2014, in connection with the Company's announcement to commit to a plan to divest all of the Company's operations in Asia Pacific and Africa, the Company reorganized its reportable segments as a result of a change to what the CODM uses to measure profitability and allocate resources. Accordingly, in the fourth quarter of 2014, the Company presented four geographic operating and reportable segments — North America, Europe, Latin America, and Africa/Asia Pacific. As a result of the change in how the CODM manages and allocates resources, there was a change in how certain corporate costs are allocated to better align with how the CODM allocates resources. Previously, the amounts were evenly allocated across each reportable segment and the amounts are now allocated based on a percentage of revenue at each segment. This change in the allocation method is reflected in the results below retrospectively. The Company’s operating and reportable segments align with the structure of the Company’s internal management organization. All four segments engage in the development, design, manufacturing, marketing and distribution of copper, aluminum, and fiber optic communication, construction, electric utility and electrical infrastructure wire and cable products. In addition to the above products, the North America, Latin America and Africa/Asia Pacific segments manufacture and distribute rod mill wire and cable products.

Net revenues as shown below represent sales to external customers for each segment. Intersegment sales have been eliminated. In the three months ended April 3, 2015, intersegment sales were $7.0 million in North America, $12.5 million in Europe, $4.3 million in Latin America, and were immaterial in Africa/Asia Pacific. In the three months ended March 28, 2014, intersegment sales were $9.3 million in North America, $17.3 million in Europe, $8.8 million in Latin America, and $0.2 million in Africa/Asia Pacific.

Summarized financial information for the Company’s reportable segments for the three fiscal months ended April 3, 2015 and March 28, 2014 is as follows:

	Three Fiscal Months Ended
(in millions)	April 3, 2015			March 28, 2014
Net Sales:
North America	$	638.2		$	594.7
Europe	261.8			323.1
Latin America	205.3			288.7
Africa/Asia Pacific	157.0			223.6
Total	$	1,262.3		$	1,430.1
Segment Operating Income (Loss):
North America	$	29.6		$	32.7
Europe	5.9			(10.3		)
Latin America	(15.9		)	(165.0		)
Africa/Asia Pacific	(11.7		)	(94.5		)
Total	$	7.9		$	(237.1	)

(in millions)	April 3, 2015		December 31, 2014
Total Assets:
North America	$	1,179.0	$	1,220.3
Europe	719.1		751.4
Latin America	571.4		656.6
Africa/Asia Pacific	673.5		738.4
Total	$	3,143.0	$	3,366.7