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Reportable Business Segments (Tables)
 9 Months Ended
Sep. 30, 2019
Segment Reporting, Measurement Disclosures [Abstract]  
Summary of segment description
 
  As of September 30, 2019
 
As of December 31, 2018
Total Assets:
 
 
 
Residential Heating & Cooling
$
1,165.3

 
$
837.4

Commercial Heating & Cooling
423.4

 
349.5

Refrigeration
415.7

 
462.9

Corporate and other
210.4

 
167.4

Total assets
$
2,214.8

 
$
1,817.2



The following table describes each segment:
 
Segment
 
Product or Services
 
Markets Served
 
Geographic Areas
Residential Heating & Cooling
 
Furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts
 
Residential Replacement;
Residential New Construction
 
United States
Canada
Commercial Heating & Cooling
 
Unitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment
 
Light Commercial
 
United States
Canada
Central America
South America
Refrigeration
 
Condensing units, unit coolers, fluid coolers, air cooled condensers, air handlers, process chillers, controls, compressorized racks, supermarket display cases and systems
 
Light Commercial;
Food Preservation;
Non-Food/Industrial
 
United States
Canada
Europe(1)
Asia Pacific(2)
South America(2)
Central America

(1)Effective January 1, 2019, we realigned our segment structure. We shifted financial reporting of the European Commercial HVAC business from our Commercial Heating & Cooling segment to our Refrigeration segment as we manage both our commercial HVAC and refrigeration operations in Europe together. We have revised our historical segment results to present them on a comparable basis.

(2)Our businesses in the Asia Pacific and South America area were sold in the second and third quarters of 2018, respectively. Refer to Note 14 for details regarding the divestiture of these businesses.
Net sales and segment profit (loss) and reconciliation of segment profit (loss) to income from continuing operations before income taxes
Net sales and segment profit (loss) for each segment, along with a reconciliation of segment profit (loss) to Operating income, are shown below (in millions):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Net sales
 
 
 
 
 
 
 
Residential Heating & Cooling
$
637.6

 
$
594.7

 
$
1,792.2

 
$
1,764.4

Commercial Heating & Cooling
253.3

 
236.9

 
687.9

 
668.1

Refrigeration
142.0

 
198.6

 
442.1

 
607.9

 
$
1,032.9

 
$
1,030.2

 
$
2,922.2

 
$
3,040.4

 
 
 
 
 
 
 
 
Segment profit (loss) (1) 
 
 
 
 
 
 
 
Residential Heating & Cooling
$
126.5

 
$
113.0

 
$
366.6

 
$
317.9

Commercial Heating & Cooling
47.1

 
44.8

 
116.0

 
117.6

Refrigeration
19.8

 
24.9

 
47.3

 
57.1

Corporate and other
(18.1
)
 
(28.1
)
 
(54.3
)
 
(61.8
)
Total segment profit
175.3

 
154.6

 
475.6

 
430.8

Reconciliation to Operating income:
 
 
 
 
 
 
 
Special inventory write down
—

 
—

 
—

 
0.2

Special product quality adjustment
(0.5
)
 
—

 
(1.0
)
 
—

Loss (gain), net on sale of businesses and related property
0.2

 
6.2

 
9.1

 
25.8

Loss (gain) from insurance recoveries, net of losses incurred
1.2

 
0.3

 
(11.6
)
 
0.3

Prior quarter partial advance of insurance recoveries related to lost profits
8.0

 
—

 
—

 
—

Items in losses (gains) and other expenses, net that are excluded from segment profit (loss) (1)
3.5

 
2.4

 
7.3

 
9.3

Restructuring charges
6.1

 
0.5

 
6.5

 
1.9

Operating income
$
156.8

 
$
145.2

 
$
465.3

 
$
393.3

(1) We define segment profit (loss) as a segment's operating income included in the accompanying Consolidated Statements of Operations, excluding: