Segment Information

The Company's operations are organized and managed based on similar product offerings and end markets, and are reported to senior management as the following seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The following is a description of the Company's seven segments:

Automotive OEM— This segment is a global, niche supplier to top tier OEMs, providing unique innovation to address pain points for sophisticated customers with complex problems. Businesses in this segment produce components and fasteners for automotive-related applications.

Food Equipment— This segment is a highly focused and branded industry-leader in commercial food equipment differentiated by innovation and integrated service offerings.

Test & Measurement and Electronics— This segment is a branded and innovative producer of test and measurement and electronic manufacturing and MRO solutions that improve efficiency and quality for customers in diverse end markets. Businesses in this segment produce equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics.

Welding— This segment is a branded value-added equipment and specialty consumable manufacturer with innovative and leading technology. Businesses in this segment produce arc welding equipment, consumables and accessories for a wide array of industrial and commercial applications.

Polymers & Fluids— This segment is a branded supplier to niche markets that require value-added, differentiated products. Businesses in this segment produce engineered adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance.

Construction Products— This segment is a branded supplier of innovative engineered fastening systems and solutions.

Specialty Products— This segment is focused on diversified niche market opportunities with substantial patent protection producing beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners.

Segments are allocated a fixed overhead charge based on the segment's revenue. Expenses not charged to the segments are reported separately as Unallocated. Because the Unallocated category includes a variety of items, it is subject to fluctuations on a quarterly and annual basis. Unallocated in 2017 includes the favorable impact from the previously discussed confidential legal settlement.

Segment information for 2018, 2017 and 2016 was as follows:



In millions	2018			2017			2016
Operating revenue:
Automotive OEM	$	3,338		$	3,271		$	2,864
Food Equipment	2,214			2,123			2,110
Test & Measurement and Electronics	2,171			2,069			1,974
Welding	1,691			1,538			1,486
Polymers & Fluids	1,724			1,724			1,691
Construction Products	1,700			1,672			1,609
Specialty Products	1,951			1,938			1,885
Intersegment revenue	(21		)	(21		)	(20		)
Total	$	14,768		$	14,314		$	13,599
Operating income:
Automotive OEM	$	751		$	747		$	690
Food Equipment	572			556			537
Test & Measurement and Electronics	523			464			372
Welding	474			415			370
Polymers & Fluids	369			357			343
Construction Products	414			399			361
Specialty Products	522			527			482
Total Segments	3,625			3,465			3,155
Unallocated	(41		)	20			(99		)
Total	$	3,584		$	3,485		$	3,056
Depreciation and amortization and impairment of intangible assets:
Automotive OEM	$	123		$	111		$	90
Food Equipment	44			45			45
Test & Measurement and Electronics	88			92			104
Welding	27			28			36
Polymers & Fluids	83			89			92
Construction Products	32			33			34
Specialty Products	64			64			69
Total	$	461		$	462		$	470
Plant and equipment additions:
Automotive OEM	$	184		$	147		$	116
Food Equipment	28			27			31
Test & Measurement and Electronics	31			23			25
Welding	23			17			16
Polymers & Fluids	15			16			18
Construction Products	25			22			20
Specialty Products	58			45			47
Total	$	364		$	297		$	273
Identifiable assets:
Automotive OEM	$	2,388		$	2,402		$	2,051
Food Equipment	1,019			1,054			1,013
Test & Measurement and Electronics	2,343			2,449			2,362
Welding	789			756			701
Polymers & Fluids	1,942			2,067			2,019
Construction Products	1,167			1,196			1,099
Specialty Products	1,687			1,721			1,599
Total Segments	11,335			11,645			10,844
Corporate	3,535			5,135			4,357
Total	$	14,870		$	16,780		$	15,201

Identifiable assets by segment are those assets that are specifically used in that segment. Corporate assets are principally cash and equivalents, investments and other general corporate assets.

Enterprise-wide information for 2018, 2017 and 2016 was as follows:



In millions	2018		2017		2016
Operating Revenue by Geographic Region:
United States	$	6,562	$	6,243	$	6,176
Canada/Mexico	1,050		996		923
Total North America	7,612		7,239		7,099
Europe, Middle East and Africa	4,241		4,102		3,787
Asia Pacific	2,573		2,577		2,361
South America	342		396		352
Total Operating Revenue	$	14,768	$	14,314	$	13,599

Operating revenue by geographic region is based on the customers' locations. There was no single country outside the U.S. with long-lived assets exceeding 10% of the Company's total long-lived assets in 2018 and 2016. At December 31, 2017, the Company had approximately 10% of its total long-lived assets in Germany. No single customer accounted for more than 5% of consolidated revenues in 2018, 2017 or 2016. Additionally, the Company has thousands of product lines within its businesses; therefore, providing operating revenue by product line is not practicable.