Segment Information

12 Months Ended

Dec. 31, 2019

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 2019, 2018 and 2017 was as follows:



In millions	2019			2018			2017
Operating revenue:
Automotive OEM	$	3,063		$	3,338		$	3,271
Food Equipment	2,188			2,214			2,123
Test & Measurement and Electronics	2,121			2,171			2,069
Welding	1,638			1,691			1,538
Polymers & Fluids	1,669			1,724			1,724
Construction Products	1,625			1,700			1,672
Specialty Products	1,825			1,951			1,938
Intersegment revenue	(20		)	(21		)	(21		)
Total	$	14,109		$	14,768		$	14,314
Operating income:
Automotive OEM	$	659		$	751		$	747
Food Equipment	578			572			556
Test & Measurement and Electronics	542			523			464
Welding	453			474			415
Polymers & Fluids	381			369			357
Construction Products	383			414			399
Specialty Products	472			522			527
Total Segments	3,468			3,625			3,465
Unallocated	(66		)	(41		)	20
Total	$	3,402		$	3,584		$	3,485
Depreciation and amortization and impairment of intangible assets:
Automotive OEM	$	125		$	123		$	111
Food Equipment	41			44			45
Test & Measurement and Electronics	69			88			92
Welding	26			27			28
Polymers & Fluids	77			83			89
Construction Products	29			32			33
Specialty Products	59			64			64
Total	$	426		$	461		$	462
Plant and equipment additions:
Automotive OEM	$	134		$	184		$	147
Food Equipment	35			28			27
Test & Measurement and Electronics	26			31			23
Welding	28			23			17
Polymers & Fluids	18			15			16
Construction Products	29			25			22
Specialty Products	56			58			45
Total	$	326		$	364		$	297
Identifiable assets:
Automotive OEM	$	2,417		$	2,388		$	2,402
Food Equipment	1,042			1,019			1,054
Test & Measurement and Electronics	2,374			2,343			2,449
Welding	734			789			756
Polymers & Fluids	1,862			1,942			2,067
Construction Products	1,176			1,167			1,196
Specialty Products	1,656			1,687			1,721
Total Segments	11,261			11,335			11,645
Corporate	3,807			3,535			5,135
Total	$	15,068		$	14,870		$	16,780

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 the twelve months ended December 31, 2019, 2018 and 2017 was as follows:



In millions	2019		2018		2017
Operating Revenue by Geographic Region:
United States	$	6,507	$	6,562	$	6,243
Canada/Mexico	972		1,050		996
Total North America	7,479		7,612		7,239
Europe, Middle East and Africa	3,920		4,241		4,102
Asia Pacific	2,400		2,573		2,577
South America	310		342		396
Total Operating Revenue	$	14,109	$	14,768	$	14,314

Operating revenue by geographic region is based on the customers' locations. As of December 31, 2019, the Company had approximately 11% of its total long-lived assets in China. 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. No single customer accounted for more than 5% of consolidated revenues for the twelve months ended December 31, 2019, 2018 or 2017.