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Segment Information (Tables)
9 Months Ended
Sep. 30, 2015
Segment Information

Segment information as of and for the three and nine months ended September 30, 2015 and 2014 is as follows:

 

    Three months ended September 30, 2015  

(in millions)

  Branded
Consumables
    Consumer
Solutions
    Outdoor
Solutions
    Process
Solutions
    Intercompany
Eliminations
    Total
Operating
Segments
    Corporate/
Unallocated
    Consolidated  

Net sales

  $ 910.5     $ 602.4     $ 654.5      $ 114.2     $ (25.3   $ 2,256.3     $ —       $ 2,256.3   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment earnings (loss)

    173.7        98.3        88.9        15.1       —         376.0        (27.7     348.3   

Adjustments to reconcile to reported operating earnings (loss):

               

Fair market value adjustment to inventory

    (18.2     —         (2.5     —         —         (20.7     —         (20.7

Restructuring costs, net

    (0.5     —         —         —         —         (0.5     —         (0.5

Acquisition-related and other costs

    (4.9     0.7        (5.9     —         —         (10.1     (5.5     (15.6

Depreciation and amortization

    (34.1 )     (9.4 )     (13.5     (3.0 )     —         (60.0 )     (1.8     (61.8
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating earnings (loss)

  $ 116.0     $ 89.6     $ 67.0      $ 12.1     $ —       $ 284.7     $ (35.0   $ 249.7   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other segment data:

               

Total assets

  $ 6,067.4     $ 2,644.5     $ 2,903.0     $ 205.9     $ —       $ 11,820.8     $ 1,054.7     $ 12,875.5   
    Three months ended September 30, 2014  

(in millions)

  Branded
Consumables
    Consumer
Solutions
    Outdoor
Solutions
    Process
Solutions
    Intercompany
Eliminations
    Total
Operating
Segments
    Corporate/
Unallocated
    Consolidated  

Net sales

  $ 768.0     $ 612.4     $ 679.1      $ 104.9     $ (22.2   $ 2,142.2     $ —       $ 2,142.2   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment earnings (loss)

    135.1       98.1       87.7        11.8       —         332.7       (24.3     308.4   

Adjustments to reconcile to reported operating earnings (loss):

               

Fair market value adjustment to inventory

    (1.5     (10.8     —         —         —         (12.3     —         (12.3

Restructuring costs, net

    —         (0.5     —         —         —         (0.5     —         (0.5

Acquisition-related and other costs

    (2.7     (0.1     (7.1     —         —         (9.9     (4.2     (14.1

Venezuela-related charges

    —         —         —         —         —         —         (3.3     (3.3

Depreciation and amortization

    (21.9 )     (8.0 )     (14.2     (2.7 )     —         (46.8 )     (1.3     (48.1
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating earnings (loss)

  $ 109.0     $ 78.7     $ 66.4      $ 9.1     $ —       $ 263.2     $ (33.1   $ 230.1   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
    Nine months ended September 30, 2015  

(in millions)

  Branded
Consumables
    Consumer
Solutions
    Outdoor
Solutions
    Process
Solutions
    Intercompany
Eliminations
    Total
Operating
Segments
    Corporate/
Unallocated
    Consolidated  

Net sales

  $ 2,233.1      $ 1,455.2      $ 2,032.7      $ 342.9     $ (70.4   $ 5,993.5     $ —       $ 5,993.5   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment earnings (loss)

    364.2        192.6        214.2        45.9        —         816.9        (110.9     706.0   

Adjustments to reconcile to reported operating earnings (loss):

               

Fair market value adjustment to inventory

    (18.2     —         (2.5     —         —         (20.7     —         (20.7

Restructuring costs, net

    (3.0     —         —         —         —         (3.0     (2.0     (5.0

Acquisition-related and other costs

    (14.8     (8.5     (20.6     —         —         (43.9     (8.5     (52.4

Venezuela-related charges

    —         —         —         —         —         —         (60.6     (60.6

Depreciation and amortization

    (75.9     (28.4     (40.8     (8.8 )     —         (153.9 )     (4.9     (158.8
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating earnings (loss)

  $ 252.3      $ 155.7      $ 150.3      $ 37.1     $ —       $ 595.4     $ (186.9   $ 408.5   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

    Nine months ended September 30, 2014  

(in millions)

  Branded
Consumables
    Consumer
Solutions
    Outdoor
Solutions
    Process
Solutions
    Intercompany
Eliminations
    Total
Operating
Segments
    Corporate/
Unallocated
    Consolidated  

Net sales

  $ 2,074.2      $ 1,402.0      $ 2,118.1      $ 319.0      $ (64.2   $ 5,849.1      $ —       $ 5,849.1   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment earnings (loss)

    315.6        189.9        243.2        42.4        —         791.1        (97.9     693.2   

Adjustments to reconcile to reported operating earnings (loss):

               

Fair market value adjustment to inventory

    (1.5     (12.1     —         —         —         (13.6     —         (13.6

Restructuring costs, net

    —         (1.5     (1.6     —         —         (3.1     —         (3.1

Acquisition-related and other costs

    (9.1     (4.1     (17.5     —         —         (30.7     (4.7     (35.4

Venezuela-related charges

    —         —         —         —         —         —         (16.9     (16.9

Depreciation and amortization

    (63.8     (22.4     (42.3     (8.3     —         (136.8     (4.0     (140.8
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating earnings (loss)

  $ 241.2      $ 149.8      $ 181.8      $ 34.1      $ —       $ 606.9      $ (123.5   $ 483.4