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Segment Information
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment Information
Segment Information

The Company operates in two product segments: Oral, Personal and Home Care; and Pet Nutrition. The operations of the Oral, Personal and Home Care product segment are managed geographically in five reportable operating segments: North America, Latin America, Europe/South Pacific, Asia and Africa/Eurasia.

The Company evaluates segment performance based on several factors, including Operating profit. The Company uses Operating profit as a measure of operating segment performance because it excludes the impact of corporate-driven decisions related to interest expense and income taxes.

The accounting policies of the operating segments are generally the same as those described in Note 2, Summary of Significant Accounting Policies to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Intercompany sales have been eliminated. Corporate operations include costs related to stock options and restricted stock units, 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 to measure the underlying performance of the operating segments.

Net sales and Operating profit by segment were as follows:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2015
 
2014
 
2015
 
2014
Net sales
 
 
 
 
 
 
 
Oral, Personal and Home Care
 
 
 
 
 
 
 
North America
$
780

 
$
770

 
$
1,569

 
$
1,555

Latin America
1,126

 
1,231

 
2,213

 
2,383

Europe/South Pacific
731

 
873

 
1,472

 
1,738

Asia
623

 
610

 
1,284

 
1,282

Africa/Eurasia
254

 
308

 
508

 
606

Total Oral, Personal and Home Care
3,514

 
3,792

 
7,046

 
7,564

Pet Nutrition
552

 
560

 
1,090

 
1,113

Total Net sales
$
4,066

 
$
4,352

 
$
8,136

 
$
8,677

 
 
 
 
 
 
 
 
Operating profit
 

 
 

 
 
 
 
Oral, Personal and Home Care
 

 
 

 
 
 
 
North America
$
223

 
$
231

 
$
441

 
$
447

Latin America
321

 
311

 
629

 
601

Europe/South Pacific
183

 
227

 
367

 
444

Asia
181

 
178

 
374

 
371

Africa/Eurasia
45

 
58

 
84

 
117

Total Oral, Personal and Home Care
953

 
1,005

 
1,895

 
1,980

Pet Nutrition
146

 
146

 
293

 
290

Corporate
(167
)
 
(171
)
 
(396
)
 
(656
)
Total Operating profit
$
932

 
$
980

 
$
1,792

 
$
1,614



Approximately 80% of the Company’s Net sales are generated from markets outside the U.S., with over 50% of the Company’s Net sales coming from emerging markets (which consist of Latin America, Asia (excluding Japan), Africa/Eurasia and Central Europe).

For the three months ended June 30, 2015, Corporate Operating profit (loss) includes charges of $52 related to the 2012 Restructuring Program and a charge of $16 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation. For the six months ended June 30, 2015, Corporate Operating profit (loss) includes charges of $152 related to the 2012 Restructuring Program and a charge of $16 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation.

For the three months ended June 30, 2014, Corporate Operating profit (loss) included charges of $74 related to the 2012 Restructuring Program and costs of $2 related to the sale of land in Mexico. For the six months ended June 30, 2014, Corporate Operating profit (loss) included charges of $176 related to the 2012 Restructuring Program, charges of $266 related to the remeasurement of the Company’s Venezuelan subsidiary’s local currency-denominated net monetary assets as a result of an effective devaluation and costs of $3 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 Venezuela, refer to Note 15, Venezuela. For further information regarding the sale of land in Mexico, refer to Note 4, Acquisitions and Divestitures.