Segments

Operations for Energizer are managed via two major geographic reportable segments: Americas and International. Prior to January 1, 2018, the International segment was reported as two separate geographic reportable segments: Europe, Middle East and Africa (EMEA) and Asia Pacific. The Company changed its reporting structure to reflect how the Company is managing the operations as well as what the chief operating decision maker is reviewing to make organizational decisions about resource allocation. The prior period segment information has been recast to reflect the current reportable segment structure of the Company.

Segment performance is evaluated based on segment operating profit, exclusive of general corporate expenses, share-based compensation costs, costs associated with spin and restructuring initiatives, acquisition and integration activities, amortization costs, business realignment activities, research & development costs, gains on sale of real estate, settlement loss on pension plan termination, and other items determined to be corporate in nature. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of substantially all acquisition, integration, restructuring and realignment costs from segment results reflects management’s view on how it evaluates segment performance.

Energizer’s operating model includes a combination of standalone and shared business functions between the geographic segments, varying by country and region of the world. Shared functions include IT and finance shared service costs. Energizer applies a fully allocated cost basis, in which shared business functions are allocated between segments. Such allocations are estimates, and do not represent the costs of such services if performed on a standalone basis.



	For the Years Ended September 30,
Net Sales	2018			2017			2016
Americas	$	1,135.6		$	1,111.8		$	1,002.0
International	662.1			643.9			632.2
Total net sales	$	1,797.7		$	1,755.7		$	1,634.2
Segment Profit
Americas	326.1			310.0			266.5
International	149.6			143.0			121.7
Total segment profit	$	475.7		$	453.0		$	388.2
General corporate and other expenses (1)	(97.3		)	(92.5		)	(89.6		)
Global marketing expenses	(19.0		)	(21.5		)	(19.1		)
Research and development expense	(22.4		)	(22.0		)	(26.6		)
Amortization of intangible assets	(11.5		)	(11.2		)	(2.8		)
Restructuring (2)	—			—			(4.9		)
Acquisition and integration costs (3)	(84.6		)	(8.4		)	(19.3		)
Spin costs (4)	—			—			(10.4		)
Spin restructuring	—			3.8			(5.8		)
Settlement loss on Canadian pension plan termination (5)	(14.1		)	—			—
Gain on sale of real estate	4.6			16.9			—
Interest expense (6)	(56.5		)	(53.1		)	(53.1		)
Other items, net (1)(7)	0.3			8.3			9.1
Total earnings before income taxes	$	175.2		$	273.3		$	165.7

Depreciation and Amortization
Americas	21.2			23.1			18.8
International	12.4			15.9			12.7
Total segment depreciation and amortization	33.6			39.0			31.5
Corporate	11.5			11.2			2.8
Total depreciation and amortization	$	45.1		$	50.2		$	34.3

(1) As a result of the adoption of ASU 2017-07 in 2018, an $11.7 and $8.8 benefit was reclassified from SG&A to Other items, net for the twelve months ended September 30, 2017 and 2016, respectively, on the Consolidated Statements of Earnings and Comprehensive Income.

(2) Includes $2.4 for the twelve months ended September 30, 2016 which is included in Cost of products sold (COGS) on the Consolidated Statements of Earnings and Comprehensive Income.

(3) Includes $62.9, $4.0 and $10.0 for the twelve months ended September 30, 2018, 2017 and 2016, respectively, recorded in SG&A, $0.2, $1.1 and $8.1 for the twelve months ended September 30, 2018, 2017 and 2016, respectively, recorded in COGS, $41.9 and $1.2 for the twelve months ended September 30, 2018 and 2016, respectively, recorded in Interest expense, and a benefit of $20.4 and expense of $3.3 recorded in Other items, net for the twelve months ended September 30, 2018 and 2017, respectively, on the Consolidated Statement of Earnings and Comprehensive Income.

(4) Includes $10.0 for the twelve months ended September 30, 2016 which was included in SG&A and $0.4 for the twelve months ended September 30, 2016 included in COGS in the Consolidated Statements of Earnings and Comprehensive Income.

(5) Included in Other items, net in the Consolidated Statements of Earnings and Comprehensive Income.

(6) The amount for the twelve months ended September 30, 2018 and 2016 on the Consolidated Statements of Earnings and Comprehensive Income included $41.9 and $1.2 of expense, respectively, which has been reclassified to Acquisition and integration costs from Interest expense for purposes of the reconciliation above.

(7) The amount for the twelve months ended September 30, 2018 and 2017 on the Consolidated Statements of Earnings and Comprehensive Income included a gain of $20.4 and expense of $3.3, respectively, which has been reclassified to Acquisition and integration costs from Other items, net for purposes of the reconciliation above.

Corporate assets shown in the following table include all restricted cash related to the Spectrum battery acquisition, financial instruments, deferred tax assets and deferred charges that are managed outside of operating segments.



	September 30,
Total Assets	2018		2017
Americas	$	504.2	$	533.9
International	851.5		698.2
Total segment assets	$	1,355.7	$	1,232.1
Corporate	1,346.3		137.7
Goodwill and other intangible assets, net	476.8		453.8
Total assets	$	3,178.8	$	1,823.6



	September 30,
Long-Lived Assets	2018		2017
United States	$	123.0	$	186.4
Singapore	69.9		64.9
Other International	91.7		98.3
Total long-lived assets excluding restricted cash, goodwill and intangibles	$	284.6	$	349.6



	For the Years Ended September 30,
Capital Expenditures	2018		2017		2016
Americas	$	16.2	$	17.4	$	18.3
International	8.0		7.8		10.4
Total segment capital expenditures	$	24.2	$	25.2	$	28.7

Geographic segment information for the years ended September 30 was as follows:



	For the Years Ended September 30,
Net Sales to Customers	2018		2017		2016
United States	$	935.8	$	923.0	$	824.1
International	861.9		832.7		810.1
Total net sales	$	1,797.7	$	1,755.7	$	1,634.2

Supplemental product information is presented below for net sales for the years ended September 30:



	For the Years Ended September 30,
Net Sales	2018		2017		2016
Batteries	$	1,612.7	$	1,548.2	$	1,498.0
Other	185.0		207.5		136.2
Total net sales	$	1,797.7	$	1,755.7	$	1,634.2