SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

MJN operates in four geographic operating segments: Asia, Europe, Latin America and North America. This operating segmentation is how the chief operating decision maker regularly assesses information for decision making purposes, including allocation of resources. Due to similarities between North America and Europe, the Company aggregated these two operating segments into one reportable segment. As a result, the Company has three reportable segments: Asia, Latin America and North America/Europe.

Corporate and Other consists of unallocated global business support activities, including research and development, marketing, supply chain costs, and general and administrative expenses; net actuarial gains and losses related to defined benefit pension and other post-employment plans;and income or expenses incurred within the operating segments that are not reflective of ongoing operations and affect the comparability of the operating segments’ results.

During the first quarter of 2014, the Company changed its accounting principles for the recognition of actuarial gains and losses for all of its defined benefit pension and other post-employment plans and the calculation of expected return on pension plan assets (See Note 2 for a discussion of the change in accounting principles). The Company has applied these accounting changes retrospectively to all periods presented and to all reportable segments as well as Corporate and Other.

The following table summarizes net sales and earnings before interest and income taxes for each of the reportable segments: 

	Three Months Ended September 30,										Nine Months Ended September 30,
	Net Sales				Earnings Before Interest and Income Taxes						Net Sales				Earnings Before Interest and Income Taxes
(In millions)	2014		2013		2014			2013			2014		2013		2014			2013
Asia	$	561.5	$	546.7	$	186.2		$	199.6		$	1,729.8	$	1,635.1	$	623.4		$	613.2
Latin America	222.9		221.3		52.6			62.5			659.7		645.6		152.6			157.1
North America/Europe	306.3		278.8		66.8			64.7			925.6		859.3		200.9			192.6
Total reportable segments	1,090.7		1,046.8		305.6			326.8			3,315.1		3,140.0		976.9			962.9
Corporate and Other	—		—		(63.0		)	(76.1		)	—		—		(198.2		)	(191.9		)
Total	$	1,090.7	$	1,046.8	$	242.6		$	250.7		$	3,315.1	$	3,140.0	$	778.7		$	771.0