Segments

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segments

17. Segments

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by the CEO, who is also the Company’s Chief Operating Decision Maker (“CODM”), for making decisions about the allocation of resources and assessing performance as the source of the Company’s operating segments.

The CODM evaluates the performance of the Company’ operating segments based on net sales and operating income. Segment net sales are recognized in the geographic region the product is sold. Operating income for each segment includes net sales to third parties, cost of sales directly attributable to the segment, and operating expenses directly attributable to the segment. Manufacturing variances generated within each operating segment are maintained in each segment’s operating income. Operating income for each segment excludes other income and expense and certain expenses managed outside the operating segments. Costs excluded from segment operating income include various corporate expenses such as stock-based compensation expenses, income taxes, nonrecurring charges and other separately managed general and administrative costs. The Company does not include intercompany sales between segments for management reporting purposes. The Company’s operating segments were identified as it’s reportable segments.

The following table shows information by reportable segment for the years ended December 31, 2019, 2018 and 2017:

	2019		2018			2017
Net Sales
Americas	$	969.7	$	882.7		$	693.6
EURAF		644.9		680.6			628.9
MEAP		219.5		283.5			258.8
Total	$	1,834.1	$	1,846.8		$	1,581.3
Segment Operating Income (Loss)
Americas	$	113.4	$	58.8		$	6.8
EURAF		3.8		(68.2	)		5.1
MEAP		22.6		31.5			33.1
Total	$	139.8	$	22.1		$	45.0
Depreciation
Americas	$	14.5	$	14.0		$	15.1
EURAF		15.1		15.3			15.0
MEAP		2.4		3.7			3.8
Corporate		3.0		3.1			4.2
Total	$	35.0	$	36.1		$	38.1
Capital Expenditures
Americas	$	13.2	$	9.4		$	10.6
EURAF		19.0		16.3			14.3
MEAP		2.9		3.4			3.9
Corporate		—		2.6			0.1
Total	$	35.1	$	31.7		$	28.9

A reconciliation of the Company’s segment operating income (loss) to the Consolidated Statement of Operations for the years ended December 31, 2019, 2018 and 2017 are summarized as follows:

	2019			2018			2017
Segment operating income (loss)	$	139.8		$	22.1		$	45.0
Unallocated corporate expenses		(31.3	)		(37.5	)		(33.0	)
Unallocated restructuring expense		(0.1	)		(3.9	)		(3.6	)
Total operating income (loss)	$	108.4		$	(19.3	)	$	8.4

Net sales and property, plant and equipment by geographic area as of and for the years ended December 31 are summarized below.  

	Net Sales						Property, Plant and Equipment
	2019		2018		2017		2019		2018
United States	$	860.4	$	796.9	$	618.5	$	109.3	$	110.6
Europe		619.8		659.9		601.3		150.4		145.2
Other		353.9		390.0		361.5		30.2		33.1
Total	$	1,834.1	$	1,846.8	$	1,581.3	$	289.9	$	288.9

Net sales by product for the years ended December 31, 2019, 2018 and 2017 are summarized as follows:

	2019		2018		2017
Cranes	$	1,498.6	$	1,509.9	$	1,270.5
Aftermarket parts and other*		335.5		336.9		310.8
Total net sales	$	1,834.1	$	1,846.8	$	1,581.3

* Other revenue consists of revenue related to miscellaneous Crane Care services such as

training and field service work.