Segment Information

6 Months Ended

Apr. 30, 2020

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Our current reportable segments consist of B&I, T&M, Aviation, Education, and Technical Solutions, as further described below. Refer to Note 2, “Basis of Presentation and Significant Accounting Policies,” for information related to the reorganization of our Healthcare business into our other industry groups, primarily B&I, during the third quarter of 2019.

REPORTABLE SEGMENTS AND DESCRIPTIONS
B&I	B&I, our largest reportable segment, encompasses janitorial, facilities services, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities. B&I also provides vehicle maintenance and other services to rental car providers.
T&M	T&M provides janitorial, facilities services, and parking services to industrial and high-tech manufacturing facilities.
Aviation	Aviation supports airlines and airports with services ranging from parking and janitorial to passenger assistance, catering logistics, air cabin maintenance, and transportation.
Education	Education delivers janitorial, custodial, landscaping and grounds, facilities engineering, and parking services for public school districts, private schools, colleges, and universities.
Technical Solutions	Technical Solutions specializes in mechanical and electrical services. These services can also be leveraged for cross-selling across all of our industry groups, both domestically and internationally.

Financial Information by Reportable Segment

	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2020		2019		2020		2019
Revenues
Business & Industry	$	785.6	$	807.7	$	1,606.5	$	1,636.6
Technology & Manufacturing	233.7		224.3		467.6		460.4
Aviation	184.7		250.0		423.5		502.4
Education	200.1		209.3		408.0		418.2
Technical Solutions	122.3		135.9		264.3		252.0
Elimination of inter-segment revenues	(30.4)		(32.6)		(61.0)		(67.0)
	$	1,496.0	$	1,594.7	$	3,109.0	$	3,202.6
Operating (loss) profit
Business & Industry	$	59.2	$	49.2	$	97.4	$	86.0
Technology & Manufacturing	19.7		19.2		36.3		37.4
Aviation(1)	(60.5)		4.8		(54.9)		8.7
Education(2)	(85.8)		10.5		(74.6)		20.8
Technical Solutions(3)	(8.4)		10.6		(0.1)		17.3
Government Services	—		—		—		(0.1)
Corporate	(39.5)		(38.9)		(72.8)		(83.6)
Adjustment for income from unconsolidated affiliates, included in Aviation	(0.9)		(0.8)		(1.8)		(1.7)
Adjustment for tax deductions for energy efficient government buildings, included in Technical Solutions	(0.4)		—		(0.4)		—
	(116.7)		54.5		(70.8)		84.8
Income from unconsolidated affiliates	0.9		0.8		1.8		1.7
Interest expense	(10.5)		(12.8)		(20.7)		(26.3)
(Loss) income from continuing operations before income taxes	$	(126.2)	$	42.5	$	(89.7)	$	60.2

⁽¹⁾ Reflects impairment charges totaling $61.1 million on goodwill and intangible assets during the three and six months ended April 30, 2020.

⁽²⁾ Reflects impairment charges totaling $99.3 million on goodwill during the three and six months ended April 30, 2020.

⁽³⁾ Reflects impairment charges totaling $12.4 million on goodwill and intangible assets during the three and six months ended April 30, 2020.

The accounting policies for our segments are the same as those disclosed within our significant accounting policies in Note 2, “Basis of Presentation and Significant Accounting Policies.” Our management evaluates the performance of each reportable segment based on its respective operating profit results, which include the allocation of certain centrally incurred costs. Corporate expenses not allocated to segments include certain CEO and other finance and human resource departmental expenses, certain information technology costs, share-based compensation, certain legal costs and settlements, restructuring and related costs, certain actuarial adjustments to self-insurance reserves, and direct acquisition costs.