Segment Information

3 Months Ended

Jan. 30, 2015

Segment Reporting [Abstract]

Segment Information

NOTE 14 – SEGMENT INFORMATION

Based on the nature of our products, technology, manufacturing processes, customers and regulatory environment, we aggregate our operating segments into two reportable segments: Coatings and Paints. We are required to report segment information in the same way that management internally organizes its business for assessing performance and making decisions regarding allocation of resources. We evaluate the performance of operating segments and allocate resources based on profit or loss from operations before interest expense and taxes (EBIT).

The Coatings segment aggregates our industrial product lines and our packaging product line. Industrial products include a broad range of decorative and protective coatings for metal, wood and plastic. Packaging products include both interior and exterior coatings used in metal packaging containers, principally food containers and beverage cans. The products of this segment are sold throughout the world.

The Paints segment aggregates our consumer paints and automotive refinish product lines. Consumer paint products include interior and exterior decorative paints, stains, primers, varnishes, high performance floor paints and specialty decorative products, such as enamels, aerosols and faux finishes primarily distributed for the do-it-yourself and professional markets in Australia, China, Europe and North America. Automotive paint products include refinish paints and aerosol spray paints sold through automotive refinish distributors, body shops and automotive supply distributors and retailers in many countries around the world.

Our remaining activities are included in Other and Administrative. These activities include specialty polymers and colorants that are used internally and sold to other coatings manufacturers, as well as related products and furniture protection plans. Also included within Other and Administrative are our corporate administrative expenses. The administrative expenses include expenses not directly allocated to any other reportable segment.

In the following table, sales between segments are recorded at selling prices that are below market prices, generally intended to recover internal costs. Segment EBIT includes income realized on inter-segment sales. Comparative segment data for the three months ended January 30, 2015 and January 24, 2014 are as follows:

	Three Months Ended
	January 30, 2015			January 24, 2014
Net Sales
Coatings	$	603,057		$	565,386
Paints	362,523			365,787
Other and Administrative	92,804			91,530
Less Intersegment Sales	(43,715		)	(43,586		)
Total Net Sales	$	1,014,669		$	979,117
EBIT
Coatings	$	135,609		$	69,975
Paints	25,329			30,997
Other and Administrative	(2,617		)	(5,783		)
Total EBIT	158,321			95,189
Interest Expense	16,315			15,932
Income Before Income Taxes	$	142,006		$	79,257

It is not practicable to obtain the information needed to disclose revenues attributable to each of our identified product lines within our reportable segments.