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Note 17 - Operating Segments
 6 Months Ended
Jun. 03, 2017
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note
17
: Operating Segments
 
We are required to report segment information in the same way that we internally organize our business for assessing performance and making decisions regarding allocation of resources. For segment evaluation by the chief operating decision maker, segment operating income is identified as gross profit less SG&A expenses. Segment operating income excludes special charges, net. Corporate expenses are fully allocated to each operating segment. Corporate assets are
not
allocated to the operating segments. Inter-segment revenues are recorded at cost plus a markup for administrative costs. Operating results of each segment are regularly reviewed by our chief operating decision maker to make decisions about resources to be allocated to the segments and assess their performance.
 
The table below provides certain information regarding net revenue and segment operating income for each of our operating segments:
 
 
 
Three Months Ended
 
 
 
June 3, 2017
 
 
May 28, 2016
 
 
 
 
 
 
 
Inter-
 
 
Segment
 
 
 
 
 
 
Inter-
 
 
Segment
 
 
 
Trade
 
 
Segment
 
 
Operating
 
 
Trade
 
 
Segment
 
 
Operating
 
 
 
Revenue
 
 
Revenue
 
 
Income (Loss)
 
 
Revenue
 
 
Revenue
 
 
Income
 
Americas Adhesives
 
$
229,622
 
 
$
4,048
 
 
$
26,455
 
   $
206,147
     $
4,095
     $
35,884
  
EIMEA
 
 
135,226
 
 
 
4,452
 
 
 
8,083
 
    
139,897
      
4,494
      
11,027
  
Asia Pacific
 
 
64,466
 
 
 
1,416
 
 
 
4,751
 
    
60,119
      
1,309
      
3,036
  
Construction Products
 
 
63,754
 
 
 
-
 
 
 
(1,853
)
    
67,634
      
51
      
2,534
  
Engineering Adhesives
 
 
68,583
 
 
 
-
 
 
 
5,832
 
    
58,717
      
-
      
2,091
  
Total
 
$
561,651
 
 
 
 
 
 
$
43,268
 
   $
532,514
      
 
     $
54,572
  
 
 
 
 
Six Months Ended
 
 
 
June 3, 2017
 
 
May 28, 2016
 
 
 
 
 
 
 
Inter-
 
 
Segment
 
 
 
 
 
 
Inter-
 
 
Segment
 
 
 
Trade
 
 
Segment
 
 
Operating
 
 
Trade
 
 
Segment
 
 
Operating
 
 
 
Revenue
 
 
Revenue
 
 
Income
 
 
Revenue
 
 
Revenue
 
 
Income
 
Americas Adhesives
 
$
422,784
 
 
$
7,857
 
 
$
47,488
 
   $
389,466
     $
7,725
     $
62,143
  
EIMEA
 
 
259,265
 
 
 
7,899
 
 
 
9,880
 
    
264,188
      
9,765
      
17,190
  
Asia Pacific
 
 
127,112
 
 
 
2,503
 
 
 
6,630
 
    
113,979
      
2,261
      
6,789
  
Construction Products
 
 
120,800
 
 
 
-
 
 
 
(2,536
)
    
127,708
      
155
      
3,319
  
Engineering Adhesives
 
 
135,013
 
 
 
-
 
 
 
7,887
 
    
111,499
      
-
      
2,969
  
Total
 
$
1,064,974
 
 
 
 
 
 
$
69,349
 
   $
1,006,840
      
 
     $
92,410
  
 
The table below provides a reconciliation of segment operating income to income before income taxes and income from equity method investments:
 
 
 
Three Months Ended
 
 
Six Months Ended
 
 
 
June 3,
 
 
May 28,
 
 
June 3,
 
 
May 28,
 
 
 
2017
 
 
2016
 
 
2017
 
 
2016
 
Segment operating income
 
$
43,268
 
   $
54,572
  
 
$
69,349
 
   $
92,410
  
Special charges, net
 
 
-
 
    
(370
 )
 
 
-
 
    
(783
 )
Other income (expense), net
 
 
(110
)
    
(1,565
 )
 
 
511
 
    
(6,647
 )
Interest expense
 
 
(8,148
)
    
(6,597
 )
 
 
(16,528
)
    
(12,905
 )
Income before income taxes and income from equity method investments
 
$
35,010
 
   $
46,040
  
 
$
53,332
 
   $
72,075