During the quarter ended August 31, 2018, we made the determination to streamline certain businesses and management structures within our industrial reportable segment. As a result, our former tremco illbruck Group, Tremco Group and several components from our Performance Coatings Group, including our Euclid and Flowcrete businesses, were combined to form a new Construction Products Group. There were no changes in the composition of any of our reportable segments and, therefore, previously reported business segment information remains unchanged.

We operate a portfolio of businesses and product lines that manufacture and sell a variety of specialty paints, protective coatings and roofing systems, sealants and adhesives. We manage our portfolio by organizing our businesses and product lines into three reportable segments: the industrial reportable segment, the consumer reportable segment and the specialty reportable segment. Within each reportable segment, we aggregate operating segments or product lines that consist of individual companies or groups of companies and product lines, which generally address common markets, share similar economic characteristics, utilize similar technologies and can share manufacturing or distribution capabilities. Our six operating segments represent components of our business for which separate financial information is available that is utilized on a regular basis by our chief operating decision maker in determining how to allocate the assets of the company and evaluate performance. These six operating segments are each managed by an operating segment manager, who is responsible for the day-to-day operating decisions and performance evaluation of the operating segment’s underlying businesses.

Our industrial reportable segment products are sold throughout North America and also account for the majority of our international sales. Our industrial product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The industrial reportable segment comprises two separate operating segments — Construction Products Group and Performance Coatings Group. Products and services within this reportable segment include construction chemicals, roofing systems, weatherproofing and other sealants, and polymer flooring.

Our consumer reportable segment manufactures and markets professional use and do-it-yourself (“DIY”) products for a variety of mainly consumer applications, including home improvement and personal leisure activities. Our consumer segment’s major manufacturing and distribution operations are located primarily in North America, along with a few locations in Europe and other parts of the world. Our consumer reportable segment products are primarily sold directly to mass merchandisers, home improvement centers, hardware stores, paint stores, craft shops, cosmetic companies and through distributors. This reportable segment comprises three operating segments — Rust-Oleum Group, DAP Group and SPG-Consumer Group. Products within this reportable segment include specialty, hobby and professional paints; nail enamels; caulks; adhesives; silicone sealants and wood stains.

Our specialty reportable segment products are sold throughout North America and a few international locations, primarily in Europe. Our specialty product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The specialty reportable segment is a single operating segment, which offers products that include industrial cleaners, restoration services equipment, colorants, exterior finishes, edible coatings and specialty glazes for pharmaceutical and food industries, and other specialty OEM coatings.

In addition to our three reportable segments, there is a category of certain business activities and expenses, referred to as corporate/other, that does not constitute an operating segment. This category includes our corporate headquarters and related administrative expenses, results of our captive insurance companies, gains or losses on the sales of certain assets and other expenses not directly associated with any reportable segment. Assets related to the corporate/other category consist primarily of investments, prepaid expenses and headquarters’ property and equipment. These corporate and other assets and expenses reconcile reportable segment data to total consolidated income before income taxes and identifiable assets.

We reflect income from our joint ventures on the equity method, and receive royalties from our licensees.

The following tables present a disaggregation of revenues by geography, and reflect the results of our reportable segments consistent with our management philosophy, by representing the information we utilize, in conjunction with various strategic, operational and other financial performance criteria, in evaluating the performance of our portfolio of businesses.

Three Months Ended November 30, 2018	Industrial Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	375,953	$	336,081	$	159,352	$	871,386
Foreign
Canada		61,754		23,403		17,085		102,242
Europe		189,095		55,653		25,094		269,842
Latin America		44,858		7,281		364		52,503
Asia Pacific		28,708		7,919		10,092		46,719
Other Foreign		17,600		2,239		-		19,839
Total Foreign		342,015		96,495		52,635		491,145
Total	$	717,968	$	432,576	$	211,987	$	1,362,531

Three Months Ended November 30, 2017	Industrial Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	361,932	$	315,642	$	156,137	$	833,711
Foreign
Canada		63,217		23,660		6,054		92,931
Europe		183,093		57,226		23,585		263,904
Latin America		49,028		7,943		289		57,260
Asia Pacific		28,398		8,736		11,015		48,149
Other Foreign		17,237		2,224		-		19,461
Total Foreign		340,973		99,789		40,943		481,705
Total	$	702,905	$	415,431	$	197,080	$	1,315,416

Six Months Ended November 30, 2018	Industrial Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	818,574	$	717,748	$	315,737	$	1,852,059
Foreign
Canada		122,763		52,409		23,847		199,019
Europe		372,209		115,229		48,980		536,418
Latin America		92,485		13,402		670		106,557
Asia Pacific		59,211		14,831		15,573		89,615
Other Foreign		34,699		4,153		-		38,852
Total Foreign		681,367		200,024		89,070		970,461
Total	$	1,499,941	$	917,772	$	404,807	$	2,822,520

Six Months Ended November 30, 2017	Industrial Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	761,220	$	640,292	$	306,561	$	1,708,073
Foreign
Canada		126,051		50,237		13,110		189,398
Europe		362,176		117,681		48,624		528,481
Latin America		94,552		13,636		754		108,942
Asia Pacific		55,065		16,608		16,513		88,186
Other Foreign		33,609		4,121		-		37,730
Total Foreign		671,453		202,283		79,001		952,737
Total	$	1,432,673	$	842,575	$	385,562	$	2,660,810

	Three Months Ended						Six Months Ended
	November 30,			November 30,			November 30,			November 30,
	2018			2017			2018			2017
	(In thousands)
Income (Loss) Before Income Taxes
Industrial Segment	$	54,393		$	67,696		$	123,450		$	156,598
Consumer Segment		41,239			45,085			92,535			117,453
Specialty Segment		29,979			34,439			57,780			67,606
Corporate/Other		(59,018	)		(38,039	)		(115,234	)		(77,192	)
Consolidated	$	66,593		$	109,181		$	158,531		$	264,465