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Segment Results (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Net Sales to External Customers

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Net sales to external customers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

214.8

 

 

$

202.7

 

 

$

414.9

 

 

$

394.0

 

EMEA

 

 

65.6

 

 

 

68.6

 

 

 

125.2

 

 

 

139.1

 

Pacific Rim

 

 

33.9

 

 

 

34.8

 

 

 

61.6

 

 

 

65.0

 

Total net sales to external customers

 

$

314.3

 

 

$

306.1

 

 

$

601.7

 

 

$

598.1

 

 

Schedule of Segment Operating Income (Loss)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Segment operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

64.3

 

 

$

71.9

 

 

$

120.4

 

 

$

136.3

 

EMEA

 

 

(5.3

)

 

 

(6.2

)

 

 

(9.3

)

 

 

(8.3

)

Pacific Rim

 

 

(2.1

)

 

 

(1.5

)

 

 

(3.4

)

 

 

(4.0

)

Unallocated Corporate

 

 

(5.2

)

 

 

(23.0

)

 

 

(34.4

)

 

 

(48.7

)

Total consolidated operating income

 

$

51.7

 

 

$

41.2

 

 

$

73.3

 

 

$

75.3

 

 

Reconciliation of Total Consolidated Operating Income to Earnings Before Income Taxes

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Total consolidated operating income

 

$

51.7

 

 

$

41.2

 

 

$

73.3

 

 

$

75.3

 

Interest expense

 

 

12.5

 

 

 

11.4

 

 

 

34.4

 

 

 

22.6

 

Other non-operating expense

 

 

-

 

 

 

0.2

 

 

 

-

 

 

 

2.7

 

Other non-operating (income)

 

 

(2.1

)

 

 

(3.4

)

 

 

(7.3

)

 

 

(5.4

)

Earnings from continuing operations before income taxes

 

$

41.3

 

 

$

33.0

 

 

$

46.2

 

 

$

55.4

 

 

Reconciliation of Total Segment Assets to Total Consolidated Assets

 

 

 

June 30, 2016

 

 

December 31, 2015

 

Segment assets

 

 

 

 

 

 

 

 

Americas

 

$

1,155.2

 

 

$

1,137.4

 

EMEA

 

 

294.7

 

 

 

283.3

 

Pacific Rim

 

 

144.6

 

 

 

154.5

 

Unallocated Corporate

 

 

102.5

 

 

 

237.8

 

Total consolidated assets

 

$

1,697.0

 

 

$

1,813.0

 

 

Reconciliation of Unallocated Corporate Segment Operating Loss

For the three and six months ended June 30, 2016 and 2015, Unallocated Corporate segment operating (loss) was comprised of the following

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Corporate expenses

 

$

(1.3

)

 

$

(17.9

)

 

$

(3.4

)

 

$

(39.3

)

Separation costs

 

 

(3.9

)

 

 

(5.1

)

 

 

(31.0

)

 

 

(9.4

)

Total Unallocated Corporate segment operating (loss)

 

$

(5.2

)

 

$

(23.0

)

 

$

(34.4

)

 

$

(48.7

)