Effective June 1, 2019, we realigned certain businesses and management structure to recognize how we allocate resources and analyze the operating performance of our businesses. Among other things, the realignment of certain businesses occurred as a result of the 2020 MAP to Growth plan that was approved and initiated between May and August 2018. As we began to execute on our operating improvement initiatives, we identified ways to realign certain businesses, and concluded that moving to an expanded reporting structure could help us to better manage our assets and improve synergies across the enterprise.

This realignment changed our reportable segments beginning with our first quarter of fiscal 2020. As such we now report under four reportable segments instead of our three previous reportable segments. Our four reporting segments are: the CPG reportable segment, PCG reportable segment, Consumer reportable segment and Specialty reportable segment. In connection with the realignment, we shifted our Kirker business out of Consumer into Specialty, and also shifted our Dryvit and Nudura businesses out of Specialty into CPG. The newly formed CPG also includes our Tremco, Tremco illbruck, Euclid Chemical, Viapol, Vandex and Flowcrete businesses. PCG includes Stonhard, Carboline, USL and Fibergrate businesses, while Consumer comprises the Rust-Oleum and DAP businesses.

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 four reportable segments as outlined above, which also represent our operating segments. Within each operating segment, we manage product lines and businesses which generally address common markets, share similar economic characteristics, utilize similar technologies and can share manufacturing or distribution capabilities. Our four 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 four 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. We evaluate the profit performance of our segments primarily based on income before income taxes, but also look to earnings (loss) before interest and taxes (“EBIT”), and/or adjusted EBIT, as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations.

Our CPG reportable segment products are sold throughout North America and also account for the majority of our international sales. Our construction product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. Products and services within this reportable segment include construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding, flooring systems, and weatherproofing solutions.

Our PCG reportable segment products are sold throughout North America, as well as internationally, and are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. Products and services within this reportable segment include high-performance flooring solutions, corrosion control and fireproofing coatings, infrastructure repair systems, fiberglass reinforced plastic gratings and drainage systems.

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 and through distributors. The Consumer reportable segment offers products that include specialty, hobby and professional paints; 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 offers products that include industrial cleaners, restoration services equipment, colorants, nail enamels, exterior finishes, edible coatings and specialty glazes for pharmaceutical and food industries, and other specialty original equipment manufacturer (“OEM”) coatings.

In addition to our four 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. Information for all periods presented has been recast to reflect the current year change in reportable segments.

Three Months Ended November 30, 2019	CPG Segment			PCG Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	270,908		$	173,747	$	358,500	$	124,560	$	927,715
Foreign
Canada		46,199			19,309		27,075		2,555		95,138
Europe		117,548			69,999		48,741		20,946		257,234
Latin America		43,084			8,842		7,327		349		59,602
Asia Pacific		19,468			6,670		6,874		9,760		42,772
Other Foreign		2,303			14,145		2,383				18,831
Total Foreign		228,602			118,965		92,400		33,610		473,577
Total	$	499,510		$	292,712	$	450,900	$	158,170	$	1,401,292

Three Months Ended November 30, 2018	CPG Segment			PCG Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	229,385		$	169,518	$	329,934	$	142,549	$	871,386
Foreign
Canada		53,734			22,671		23,403		2,434		102,242
Europe		128,628			64,156		54,478		22,580		269,842
Latin America		36,308			8,550		7,281		364		52,503
Asia Pacific		19,397			9,312		7,919		10,091		46,719
Other Foreign		(154	)		17,753		2,240		-		19,839
Total Foreign		237,913			122,442		95,321		35,469		491,145
Total	$	467,298		$	291,960	$	425,255	$	178,018	$	1,362,531

Six Months Ended November 30, 2019	CPG Segment			PCG Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	578,567		$	355,653	$	739,729	$	256,291	$	1,930,240
Foreign
Canada		96,642			40,282		59,580		4,783		201,287
Europe		231,850			134,458		99,750		41,785		507,843
Latin America		85,931			17,283		13,642		781		117,637
Asia Pacific		39,864			14,094		13,055		14,618		81,631
Other Foreign		2,761			28,183		4,474				35,418
Total Foreign		457,048			234,300		190,501		61,967		943,816
Total	$	1,035,615		$	589,953	$	930,230	$	318,258	$	2,874,056

Six Months Ended November 30, 2018	CPG Segment			PCG Segment		Consumer Segment		Specialty Segment		Consolidated
(In thousands)
Net Sales (based on shipping location)
United States	$	519,184		$	346,975	$	705,470	$	280,430	$	1,852,059
Foreign
Canada		97,072			44,859		52,408		4,680		199,019
Europe		253,915			124,769		112,354		45,380		536,418
Latin America		74,293			18,190		13,403		671		106,557
Asia Pacific		39,687			19,525		14,831		15,572		89,615
Other Foreign		639			34,061		4,152		-		38,852
Total Foreign		465,606			241,404		197,148		66,303		970,461
Total	$	984,790		$	588,379	$	902,618	$	346,733	$	2,822,520