
19.	BUSINESS SEGMENT INFORMATION

Our reporting segments reflect the manner in which our chief operating decision maker reviews results and allocates resources. Except in the Corporate and other segment, each reporting segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. Our liquefied natural gas (LNG) and helium storage and distribution sale of equipment businesses are aggregated within the Corporate and other segment.

Our reporting segments are:


•	Industrial Gases – Americas


•	Industrial Gases – EMEA (Europe, Middle East, and Africa)


•	Industrial Gases – Asia


•	Industrial Gases – Global


•	Corporate and other

The results of the Corporate and other segment include stranded costs related to the presentation of the two divisions comprising the former Materials Technologies segment as discontinued operations. The majority of these costs are reimbursed to Air Products pursuant to short-term transition services agreements under which Air Products will provide transition services to Versum for EMD and to Evonik for PMD. The reimbursement has been reflected on the consolidated income statements within “Other income (expense), net.”



	Industrial Gases– Americas		Industrial Gases– EMEA		Industrial Gases– Asia		Industrial Gases– Global			Corporate and other			Segment Total
Three Months Ended 30 June 2017
Sales	$	930.1	$	451.7	$	538.3	$	187.4		$	14.4		$	2,121.9
Operating income (loss)	236.2		94.1		149.1		27.9			(44.4		)	462.9
Depreciation and amortization	117.0		45.1		49.6		2.3			2.9			216.9
Equity affiliates' income	14.1		15.7		12.5		.3			—			42.6
Three Months Ended 30 June 2016
Sales	$	832.3	$	428.7	$	449.0	$	150.8		$	53.7		$	1,914.5
Operating income (loss)	234.0		104.0		118.7		(13.9		)	(24.5		)	418.3
Depreciation and amortization	112.1		45.1		49.5		2.0			4.8			213.5
Equity affiliates' income	16.0		11.3		14.8		—			—			42.1




Nine Months Ended 30 June 2017
Sales	$	2,684.1	$	1,265.6	$	1,412.5	$	551.8		$	70.5		$	5,984.5
Operating income (loss)	684.5		268.6		379.2		58.9			(114.4		)	1,276.8
Depreciation and amortization	344.8		128.9		145.6		6.0			9.5			634.8
Equity affiliates' income	41.8		33.5		38.9		.6			—			114.8
Nine Months Ended 30 June 2016
Sales	$	2,466.7	$	1,290.1	$	1,271.5	$	341.7		$	188.2		$	5,558.2
Operating income (loss)	669.1		286.3		341.0		(44.0		)	(57.9		)	1,194.5
Depreciation and amortization	330.9		140.1		150.2		5.9			15.0			642.1
Equity affiliates' income (loss)	38.2		26.1		43.9		(.5		)	—			107.7
Total Assets
30 June 2017	$	5,765.6	$	3,205.4	$	4,262.6	$	283.6		$	4,326.8		$	17,844.0
30 September 2016	5,896.7		3,178.6		4,232.7		367.6			2,384.5			16,060.1

The sales information noted above relates to external customers only. All intersegment sales are eliminated in consolidation. For the three and nine months ended 30 June 2017, the Industrial Gases – Global segment had intersegment sales of $57.4 and $179.4, respectively. For the three and nine months ended 30 June 2016, the Industrial Gases – Global segment had intersegment sales of $63.0 and $174.2, respectively. These sales are generally transacted at market pricing. For all other segments, intersegment sales are not material for all periods presented. Equipment manufactured for our industrial gases segments is generally transferred at cost and not reflected as an intersegment sale.

Changes in estimates on projects accounted for under the percentage-of-completion method favorably impacted operating income by approximately $15 and $27 during the three and nine months ended 30 June 2017.

Below is a reconciliation of segment total operating income to consolidated operating income:



	Three Months Ended						Nine Months Ended
	30 June						30 June
Operating Income	2017			2016			2017			2016
Segment total	$	462.9		$	418.3		$	1,276.8		$	1,194.5
Business separation costs	—			(9.5		)	(30.2		)	(28.9		)
Cost reduction and asset actions	(42.7		)	(13.2		)	(103.0		)	(23.9		)
Pension settlement loss	(5.5		)	(1.0		)	(9.6		)	(3.0		)
Goodwill and intangible asset impairment charge	(162.1		)	—			(162.1		)	—
Consolidated Total	$	252.6		$	394.6		$	971.9		$	1,138.7

Below is a reconciliation of segment total equity affiliates' income to consolidated equity affiliates' income (loss):



	Three Months Ended					Nine Months Ended
	30 June					30 June
Equity Affiliates' Income (Loss)	2017			2016		2017			2016
Segment total	$	42.6		$	42.1	$	114.8		$	107.7
Equity method investment impairment charge	(79.5		)	—		(79.5		)	—
Consolidated Total	$	(36.9	)	$	42.1	$	35.3		$	107.7

Below is a reconciliation of segment total assets to consolidated total assets:



	30 June		30 September
Total Assets	2017		2016
Segment total	$	17,844.0	$	16,060.1
Discontinued operations	9.8		1,968.5
Consolidated Total	$	17,853.8	$	18,028.6