Segment Information

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements [Abstract]

Segment Information

Segment Information

Effective January 1, 2013, the Company realigned the geographic structure of its North America and Latin America reportable operating segments. In order to better leverage Latin America management's knowledge of emerging market consumers to accelerate growth in the region, management responsibility for the Puerto Rico and CARICOM operations was transferred from North America to Latin America management. Accordingly, commencing with the Company's financial reporting for the quarter ended March 31, 2013, the results of the Puerto Rico and CARICOM operations, which represent less than 1% of the Company's global business, will be reported in the Latin America reportable operating segment. Previously, Puerto Rico and CARICOM represented approximately 4% of Net sales of North America and now represent approximately 3% of Net sales of Latin America. The Company reclassified its historical geographic segment information to conform to the new reporting structure which results in a slight modification to the geographic components of the Oral, Personal and Home Care segment, with no impact on historical Company results overall.

The Company evaluates segment performance based on several factors, including Operating profit. The Company uses Operating profit as a measure of the operating segment performance because it excludes the impact of corporate-driven decisions related to interest expense and income taxes. Corporate operations include costs related to stock options and restricted stock awards, research and development costs, Corporate overhead costs, restructuring and related implementation costs and gains and losses on sales of non-core product lines and assets. The Company reports these items within Corporate operations as they relate to Corporate-based responsibilities and decisions and are not included in the internal measures of segment operating performance used by the Company in order to measure the underlying performance of the business segments.

Net sales and Operating profit by segment were as follows:

	Three Months Ended
	March 31,
	2013			2012
Net sales
Oral, Personal and Home Care
North America	$	764		$	724
Latin America	1,214			1,201
Europe/South Pacific	848			854
Greater Asia/Africa	955			879
Total Oral, Personal and Home Care	3,781			3,658
Pet Nutrition	534			542
Total Net sales	$	4,315		$	4,200
Operating profit
Oral, Personal and Home Care
North America	$	215		$	177
Latin America	312			350
Europe/South Pacific	200			183
Greater Asia/Africa	248			220
Total Oral, Personal and Home Care	975			930
Pet Nutrition	136			148
Corporate	(369		)	(140		)
Total Operating profit	$	742		$	938

For the three months ended March 31, 2013, Corporate Operating profit (loss) includes charges of $66 associated with the 2012 Restructuring Program, a one-time $172 charge for the impact of the devaluation in Venezuela and costs of $5 related to the sale of land in Mexico. For further information regarding the 2012 Restructuring Program, refer to Note 5, Restructuring and Related Implementation Charges. For further information regarding the Venezuela devaluation, refer to Note 15, Venezuela. For the three months ended March 31, 2012, Corporate Operating profit (loss) included costs of $7 related to the sale of land in Mexico and $5 associated with business realignment and other cost-saving initiates. For further information regarding the sale of land in Mexico, refer to Note 4, Acquisitions and Divestitures.