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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information

Financial information for the company’s segments is as follows:

 

for the years ended December 31 (in millions)

 

2016

 

 

2015

 

 

2014

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Renal

 

$

3,855

 

 

$

3,789

 

 

$

4,172

 

Hospital Products

 

 

6,308

 

 

 

6,179

 

 

 

6,547

 

Total net sales

 

$

10,163

 

 

$

9,968

 

 

$

10,719

 

EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

Renal

 

$

703

 

 

$

566

 

 

$

666

 

Hospital Products

 

 

2,273

 

 

 

1,998

 

 

 

2,237

 

Total segment EBITDA

 

$

2,976

 

 

$

2,564

 

 

$

2,903

 

 

(in millions)

 

2016

 

 

2015

 

 

2014

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

Renal

 

$

4,315

 

 

$

4,609

 

 

$

4,928

 

Hospital Products

 

 

6,407

 

 

 

6,632

 

 

 

6,915

 

Total segment assets

 

$

10,722

 

 

$

11,241

 

 

$

11,843

 

 
EBITDA to Income from Continuing Operations Reconciliation

The following table is a reconciliation of segment EBITDA to income from continuing operations before income taxes per the consolidated statements of income.

 

for the years ended December 31 (in millions)

 

2016

 

 

2015

 

 

2014

 

Total segment EBITDA

 

$

2,976

 

 

$

2,564

 

 

$

2,903

 

Reconciling items

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(800

)

 

 

(759

)

 

 

(792

)

Stock compensation

 

 

(115

)

 

 

(126

)

 

 

(126

)

Net interest expense

 

 

(66

)

 

 

(126

)

 

 

(145

)

Restructuring charges, net

 

 

(285

)

 

 

(130

)

 

 

6

 

Certain foreign exchange fluctuations and hedging activities

 

 

34

 

 

 

197

 

 

 

37

 

Net realized gains on Retained Shares transactions

 

 

4,387

 

 

 

—

 

 

 

—

 

Net loss on debt extinguishment

 

 

(153

)

 

 

(130

)

 

 

—

 

Other Corporate items

 

 

(1,024

)

 

 

(1,062

)

 

 

(1,393

)

Income from continuing operations before income taxes

 

$

4,954

 

 

$

428

 

 

$

490

 

 
Assets Reconciliation

The following table is a reconciliation of segment assets to consolidated total assets per the consolidated balance sheets.

 

as of December 31 (in millions)

 

2016

 

 

2015

 

 

2014

 

Total segment assets

 

$

10,722

 

 

$

11,241

 

 

$

11,843

 

Cash and equivalents

 

 

2,801

 

 

 

2,213

 

 

 

2,925

 

Deferred income taxes

 

 

629

 

 

 

354

 

 

 

531

 

PP&E, net

 

 

805

 

 

 

932

 

 

 

1,039

 

Assets held for disposition

 

 

50

 

 

 

245

 

 

 

9,363

 

Other Corporate assets

 

 

539

 

 

 

5,977

 

 

 

437

 

Consolidated total assets

 

$

15,546

 

 

$

20,962

 

 

$

26,138

 

 
Geographic Information

Net sales are based on product shipment destination and assets are based on physical location.

 

years ended December 31 (in millions)

 

2016

 

 

2015

 

 

2014

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

4,259

 

 

$

4,001

 

 

$

3,999

 

Europe

 

 

2,697

 

 

 

2,774

 

 

 

3,257

 

Asia-Pacific

 

 

2,029

 

 

 

1,972

 

 

 

2,079

 

Latin America and Canada

 

 

1,178

 

 

 

1,221

 

 

 

1,384

 

Consolidated net sales

 

$

10,163

 

 

$

9,968

 

 

$

10,719

 

 

as of December 31 (in millions)

 

2016

 

 

2015

 

 

2014

 

PP&E, net

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

1,751

 

 

$

1,746

 

 

$

1,625

 

Europe

 

 

1,166

 

 

 

1,298

 

 

 

1,466

 

Asia-Pacific

 

 

752

 

 

 

757

 

 

 

753

 

Latin America and Canada

 

 

620

 

 

 

585

 

 

 

590

 

Consolidated PP&E, net

 

$

4,289

 

 

$

4,386

 

 

$

4,434

 

 
Net Sales by Commercial Franchise

The following table represents net sales by commercial franchise.

 

years ended December 31

 

2016

 

 

2015

 

 

2014

 

Total Renal1

 

$

3,855

 

 

$

3,789

 

 

$

4,172

 

Fluid Systems2

 

 

2,300

 

 

 

2,106

 

 

 

2,129

 

Integrated Pharmacy Solutions3

 

 

2,245

 

 

 

2,297

 

 

 

2,535

 

Surgical Care4

 

 

1,321

 

 

 

1,323

 

 

 

1,373

 

Other5

 

 

442

 

 

 

453

 

 

 

510

 

Total Hospital Products

 

$

6,308

 

 

$

6,179

 

 

$

6,547

 

 

1

The Renal segment is presented as a separate commercial franchise and includes sales of the company’s PD, HD and CRRT.

2

Principally includes IV therapies, infusion pumps, and administration sets.

3

Includes sales of the company’s premixed and oncology drug platforms, nutrition products and pharmacy compounding services.

4

Includes sales of the company’s inhaled anesthesia products as well as biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention.

5

Principally includes sales from the company’s pharmaceutical partnering business.