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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating profit (loss) is the primary income measure used by the chief operating decision maker (“CODM”) to assess segment performance and make operating decisions. Segment performance is assessed exclusive of Corporate and other costs, foreign currency gain (loss), and amortization of intangibles. Corporate and other costs primarily include stock-based compensation, other incentive compensation, change in fair value of warrant liabilities, asset impairments, and costs that support centralized global functions including Finance, Treasury, Risk Management, Strategy & Marketing, IT, Legal, and global product platform development and offering management.
The Company determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the CODM, which includes determining resource allocation methodologies used for reportable segments. During 2021, we reorganized our internal reporting and realigned our operating segment structure to how our CODM, our Chief Executive Officer, allocates resources and makes decisions. The changes resulted in the identification of two new operating segments, 1) Greater China and 2) Australia & New Zealand, South East Asia and India (“ASI”) which previously were reported as our legacy Asia Pacific operating segment. Given the similarities of economic characteristics and other qualitative factors, we aggregate these operating segments.
In conjunction with the realignment, the Company concluded the new operating segments also comprised reporting units and the company tested goodwill for impairment for each reporting unit both immediately before and immediately after the business realignment. The Company allocated goodwill to the two new reporting units based on their relative fair value. The goodwill impairment tests under both the legacy and new reporting unit structures concluded that no impairment existed as of the date of the change.
The segment performance measure excludes corporate and other costs, as described herein. Intersegment selling prices approximate market prices. Summarized information about the Company’s results of operations by reportable business segment and product and service offering follows:
Americas includes products and services sold for applications within the data center, communication networks and commercial and industrial markets in North America and Latin America. This segment’s principal product and service offerings include:
•Critical infrastructure & solutions includes AC and DC power management, thermal management, and integrated modular solutions.
•Integrated rack solutions includes racks, rack power, rack power distribution, rack thermal systems, and configurable integrated solutions; and hardware for managing I.T. equipment.
•Services & spares includes preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software.
Asia Pacific includes products and services sold for applications within the data center, communication networks and commercial and industrial markets throughout Greater China, Australia & New Zealand, South East Asia, and India. Products and services offered are similar to the Americas segment.
Europe, Middle East & Africa includes products and services sold for applications within the data center, communication networks and commercial and industrial markets in Europe, Middle East & Africa. Products and services offered are similar to the Americas segment.
Reportable Business Segments
Year Ended December 31,
Sales202220212020
Americas$2,773.0 $2,206.4 $2,055.1 
Asia Pacific1,699.3 1,693.6 1,431.4 
Europe, Middle East & Africa1,556.8 1,267.4 1,009.7 
6,029.1 5,167.4 4,496.2 
Eliminations(337.6)(169.3)(125.6)
Total$5,691.5 $4,998.1 $4,370.6 
Year Ended December 31,
Operating profit (loss)202220212020
Americas$426.1 $441.2 $497.0 
Asia Pacific274.4 253.4 197.1 
Europe, Middle East & Africa234.6 217.6 105.5 
Total reportable segments935.1 912.2 799.6 
Foreign currency gain (loss)(3.7)(3.2)(26.0)
Corporate and other(492.2)(504.8)(431.4)
Total corporate, other and eliminations(495.9)(508.0)(457.4)
Amortization of intangibles(215.8)(144.3)(128.7)
Operating profit (loss)$223.4 $259.9 $213.5 
Total AssetsDecember 31, 2022December 31, 2021
Americas$3,128.5 $2,706.2 
Asia Pacific1,323.1 1,345.4 
Europe, Middle East & Africa2,360.0 2,568.7 
6,811.6 6,620.3 
Corporate and other 284.1 319.3 
Total$7,095.7 $6,939.6 
Year Ended December 31,
Intersegment sales202220212020
Americas$44.4 $19.0 $14.5 
Asia Pacific98.0 84.6 63.0 
Europe, Middle East & Africa195.2 65.7 48.1 
Total$337.6 $169.3 $125.6 
Year Ended December 31,
Depreciation and Amortization202220212020
Americas$124.1 $114.7 $118.4 
Asia Pacific38.7 41.0 35.5 
Europe, Middle East & Africa108.9 42.9 24.8 
Corporate and other30.7 28.4 24.4 
Total$302.4 $227.0 $203.1 
Year Ended December 31,
Capital Expenditures202220212020
Americas$53.9 $28.7 $15.0 
Asia Pacific23.7 20.5 13.8 
Europe, Middle East & Africa17.8 18.3 12.4 
Corporate and other4.6 5.9 3.2 
Total$100.0 $73.4 $44.4 
Year Ended December 31,
Sales by Destination
202220212020
United States and Canada$2,548.3 $1,975.4 $1,858.1 
Europe1,115.7 1,014.6 777.0 
Asia1,532.6 1,556.9 1,366.1 
Latin America308.2 264.0 180.6 
Middle East/Africa186.7 187.2 188.8 
Total$5,691.5 $4,998.1 $4,370.6 
Sales in the U.S. were $2,430.6, $1,874.9, and $1,762.4 for the years ended December 31, 2022, 2021, and 2020, respectively, while sales in China were $746.3, $862.7, and $778.5, respectively.