XML 52 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Tables)
 3 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Net Revenue and Segment EBITDA
The following tables include net revenue and Segment EBITDA during the three months ended September 30, 2017 and September 30, 2016:
 
Three Months Ended  
 September 30,
(Dollars in millions)
2017
 
2016
Softgel Technologies
 
 
 
Net revenue
$
219.7

 
$
186.4

Segment EBITDA
35.1

 
30.5

Drug Delivery Solutions
 
 
 
Net revenue
225.8

 
191.3

Segment EBITDA
47.4

 
42.0

Clinical Supply Services
 
 
 
Net revenue
109.7

 
75.0

Segment EBITDA
16.7

 
10.5

Inter-segment revenue elimination
(11.3
)
 
(10.5
)
Unallocated Costs (1)
(34.0
)
 
(20.3
)
Combined Totals:
 
 
 
Net revenue
$
543.9

 
$
442.2

 
 
 
 
EBITDA from continuing operations
$
65.2

 
$
62.7


(1)
Unallocated costs include restructuring and special items, equity-based compensation, impairment charges, certain other corporate directed costs, and other costs that are not allocated to the segments as follows:
 
Three Months Ended  
 September 30,
(Dollars in millions)
2017
 
2016
Equity compensation
(7.0
)
 
(6.9
)
Restructuring and other special items (2)
(12.3
)
 
(5.9
)
Other income/(expense), net (3)
(5.7
)
 
2.1

Non-allocated corporate costs, net
(9.0
)
 
(9.6
)
Total unallocated costs
$
(34.0
)
 
$
(20.3
)

(2)
Segment results do not include restructuring and certain acquisition-related costs.
(3)
Amounts primarily relate to foreign currency translation gains and losses during all periods presented. Refer to Note 7 for details.
Reconciliation of Earnings/(Loss) from Continuing Operations to EBITDA
Provided below is a reconciliation of EBITDA from continuing operations to earnings/(loss) from continuing operations:
 
Three Months Ended  
 September 30,
(Dollars in millions)
2017
 
2016
Earnings from continuing operations
$
3.8

 
$
4.6

Depreciation and amortization
39.0

 
35.8

Interest expense, net
24.3

 
22.1

Income tax expense/(benefit)
(1.9
)
 
0.2

EBITDA from continuing operations
$
65.2

 
$
62.7
Total Assets for Each Segment and Reconciling in Consolidated Financial Statements
The following table includes total assets for each segment, as well as reconciling items necessary to total the amounts reported in the consolidated financial statements: 
(Dollars in millions)
September 30, 
 2017
 
June 30, 
 2017
Assets
 
 
 
Softgel Technologies
$
1,534.7

 
$
1,631.8

Drug Delivery Solutions
1,632.1

 
1,639.0

Clinical Supply Services
635.5

 
596.2

Corporate and eliminations
(17.5
)
 
(412.7
)
Total assets
$
3,784.8

 
$
3,454.3


Corporate assets as of September 30, 2017 include $277.8 million of equity proceeds from the public stock offering discussed in Note 12. See also Note 2 concerning the use of these proceeds after the close of the first fiscal quarter.