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Operations by Segment (Tables)
 12 Months Ended
Dec. 31, 2018
Schedule of Segment Earnings Segment earnings, defined by the Company as earnings before interest, taxes, general corporate and corporate research and development expenses, were used to measure the performance of the segments.
 
 
 
Net Sales
 
 
Earnings
 
Years ended December 31 (dollars in millions)
 
2018
 
 
2017
 
 
2016
 
 
2018
 
 
2017
 
 
2016
 
North America
(1)
 
$
2,044.7
 
 
$
1,904.8
 
 
$
1,743.2
 
 
$
464.1
 
 
$
428.6
 
 
$
385.9
 
Rest of World
 
 
1,173.6
 
 
 
1,116.3
 
 
 
965.6
 
 
 
149.3
 
 
 
149.3
 
 
 
129.1
 
Inter-segment
 
 
(30.4
)
 
 
(24.4
)
 
 
(22.9
)
 
 
—
 
 
 
—
 
 
 
—
 
Total segments – sales, segment earnings
 
$
3,187.9
 
 
$
2,996.7
 
 
$
2,685.9
 
 
$
613.4
 
 
$
577.9
 
 
$
515.0
 
Corporate expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(47.2
)
 
 
(47.0
)
 
 
(45.2
)
Interest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(8.4
)
 
 
(10.1
)
 
 
(7.3
)
Earnings before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
557.8
 
 
 
520.8
 
 
 
462.5
 
Provision for income taxes
(2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(113.6
)
 
 
(224.3
)
 
 
(136.0
)
Net earnings
 
 
 
 
 
 
 
 
 
 
 
 
 
$
444.2
 
 
$
296.5
 
 
$
326.5
 
 
(1)
 
In 2018, the Company recognized $6.7 million of restructuring and impairment expenses in connection with the move of manufacturing operations from our Renton, Washington facility to other U.S. facilities. For additional information, see Note 4 “Restructuring and Impairment Expenses.”
(2)
 
In 2017, the Company recorded a one-time charge of $81.8 million associated with U.S. Tax Reform, primarily related to the repatriation of undistributed foreign earnings. For additional information, see Note 14 “Income Taxes.”
Schedule of Assets, Depreciation And Capital Expenditure By Segment
Assets, depreciation and capital expenditures by segment
 
 
 
Total Assets
(
December 31
)
 
 
Depreciation and
Amortization (Years Ended
December 31
)
 
 
Capital
Expenditures
(Years Ended
December 31
)
 
(dollars in millions)
 
2018
 
 
2017
 
 
2016
 
 
2018
 
 
2017
 
 
2016
 
 
2018
 
 
2017
 
 
2016
 
North America
 
$
1,653.6
 
 
$
1,592.6
 
 
$
1,515.9
 
 
$
45.5
 
 
$
45.1
 
 
$
42.9
 
 
$
45.8
 
 
$
38.5
 
 
$
45.9
 
Rest of World
 
 
721.6
 
 
 
741.4
 
 
 
584.3
 
 
 
25.2
 
 
 
23.8
 
 
 
21.0
 
 
 
32.3
 
 
 
55.2
 
 
 
34.3
 
Corporate
 
 
696.3
 
 
 
863.4
 
 
 
790.8
 
 
 
1.2
 
 
 
1.2
 
 
 
1.2
 
 
 
7.1
 
 
 
0.5
 
 
 
0.5
 
Total
 
$
3,071.5
 
 
$
3,197.4
 
 
$
2,891.0
 
 
$
71.9
 
 
$
70.1
 
 
$
65.1
 
 
$
85.2
 
 
$
94.2
 
 
$
80.7
 
Schedule of Net Sales and Long-Lived Assets by Geographic Location
The following data by geographic area includes net sales based on product shipment destination and long-lived assets based on physical location. Long-lived assets include net property, plant and equipment and other long-term assets.
 
 
  
Long-lived Assets
(December 31)
 
  
 
  
Net Sales
(Years Ended December 31)
 
(dollars in millions)
  
2018
 
  
2017
 
  
2016
 
  
 
  
2018
 
  
2017
 
  
2016
 
United States
  
$
327.3
 
  
$
303.0
 
  
$
292.4
 
  
United States
  
$
1,820.8
 
  
$
1,698.1
 
  
$
1,570.7
 
China
  
 
252.6
 
  
 
250.8
 
  
 
184.3
 
  
China
  
 
1,071.2
 
  
 
1,034.9
 
  
 
887.1
 
Canada
  
 
3.1
 
  
 
3.2
 
  
 
3.1
 
  
Canada
  
 
175.0
 
  
 
163.7
 
  
 
138.7
 
Other Foreign
  
 
42.9
 
  
 
47.1
 
  
 
48.4
 
  
Other Foreign
  
 
120.9
 
  
 
100.0
 
  
 
89.4
 
Total
  
$
625.9
 
  
$
604.1
 
  
$
528.2
 
  
Total
  
$
3,187.9
 
  
$
2,996.7
 
  
$
2,685.9