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Reportable Segments
12 Months Ended
Feb. 22, 2019
Segment Reporting [Abstract]  
Reportable Segments
REPORTABLE SEGMENTS
Our reportable segments consist of the Americas segment, the EMEA segment and the Other category. Unallocated corporate expenses are reported as Corporate.
The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a portfolio of integrated architecture, furniture and technology products marketed to corporate, government, healthcare, education and retail customers through the Steelcase, Coalesse, Turnstone, Smith System, AMQ and Orangebox brands.
The EMEA segment serves customers in Europe, the Middle East and Africa primarily under the Steelcase, Orangebox and Coalesse brands, with an emphasis on freestanding furniture systems, storage and seating solutions.
The Other category includes Asia Pacific, Designtex and PolyVision. Asia Pacific serves customers in Asia and Australia primarily under the Steelcase brand with an emphasis on freestanding furniture systems, seating and storage solutions. Designtex primarily sells textiles, wall coverings and surface imaging solutions specified by architects and designers directly to end-use customers through a direct sales force primarily in North America. PolyVision manufactures ceramic steel surfaces for use in various applications globally, including static whiteboards and chalkboards sold through third party fabricators and distributors to the primary and secondary education markets and architectural panels and other special applications sold through general contractors for commercial and infrastructure projects.
We primarily review and evaluate operating income by segment in both our internal review processes and for external financial reporting. We also allocate resources primarily based on operating income. Total assets by segment include manufacturing and other assets associated with each segment.
Corporate costs include unallocated portions of shared service functions such as information technology, corporate facilities, finance, research, legal, human resources and customer aviation, plus deferred compensation expense and income or losses associated with company-owned life insurance ("COLI"). Corporate assets consist primarily of unallocated cash and cash equivalents and COLI balances.
Operating Segment Data
Americas  
EMEA
Other
Corporate
Consolidated  
2019
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,470.2

 
$
617.0

 
$
356.0

 
$

 
$
3,443.2

 
Operating income (loss)
209.9

 
(6.9
)
 
14.3

 
(33.7
)
 
183.6

 
Total assets
1,044.4

 
420.1

 
220.4

 
457.5

 
2,142.4

 
Capital expenditures
24.6

 
21.3

 
12.6

 
22.9

 
81.4

 
Depreciation & amortization
53.6

 
20.0

 
6.2

 
1.8

 
81.6

 
2018
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,193.8

 
$
524.2

 
$
337.5

 
$

 
$
3,055.5

 
Operating income (loss)
181.4

 
(14.0
)
 
21.4

 
(33.6
)
 
155.2

 
Total assets
943.2

 
300.3

 
209.1

 
406.6

 
1,859.2

 
Capital expenditures
46.2

 
31.7

 
10.0

 

 
87.9

 
Depreciation & amortization
46.2

 
14.7

 
5.0

 

 
65.9

 
2017
 
 
 
 
 
 
 
 
 
 
Revenue
$
2,231.9

 
$
503.9

 
$
296.6

 
$

 
$
3,032.4

 
Operating income (loss)
238.9

 
(20.7
)
 
14.0

 
(36.0
)
 
196.2

 
Total assets
960.7

 
297.4

 
191.1

 
342.8

 
1,792.0

 
Capital expenditures
35.9

 
20.6

 
4.6

 

 
61.1

 
Depreciation & amortization
42.7

 
12.7

 
4.9

 

 
60.3

 

The accounting policies of each of the reportable segments are the same as those described in Note 2. Revenue comparisons have been impacted by acquisitions, divestitures and deconsolidations along with currency translation effects. See Note 4 for additional information.
Reportable geographic information is as follows:
Reportable Geographic Data
Year Ended
February 22,
2019
February 23,
2018
February 24,
2017
Long-lived assets:
 
 
 
 
 
 
United States
$
812.1

 
$
689.7

 
$
655.8

 
Foreign locations
237.5

 
174.3

 
130.8

 
 
$
1,049.6

 
$
864.0

 
$
786.6

 

No country other than the U.S. represented greater than 10% of our long-lived assets in 2019, 2018 or 2017.