Segment Information

12 Months Ended

Dec. 31, 2017

—Segment Information

The Company has organized its operations into five primary segments based on the products it sells, each of which represent a reportable segment as follows:

Carlisle Construction Materials (“CCM”)—the principal products of this segment are insulation materials, rubber (EPDM), thermoplastic polyolefin (TPO) and polyvinyl chloride (PVC) roofing membranes used predominantly on non-residential low-sloped roofs, related roofing accessories, including flashings, fasteners, sealing tapes and coatings and waterproofing products. CCM also manufactures and distributes energy-efficient rigid foam insulation panels for substantially all roofing applications. The markets served primarily include new construction, re-roofing and maintenance of low-sloped roofs, water containment, HVAC sealants and coatings and waterproofing. In addition, CCM offers a broad range of specialty polyurethane products and solutions across a broad diversity of markets and applications.

Carlisle Interconnect Technologies (“CIT”)—the principal products of this segment are high-performance wire, cable, connectors, contacts and cable assemblies for the transfer of power and data primarily for the aerospace, medical, defense electronics, test and measurement equipment and select industrial markets.

Carlisle FoodService Products (“CFS”)—On February 1, 2018, the Company announced the signing of a definitive agreement to sell CFS (refer to Note 20). The principal products of this segment include commercial and institutional foodservice permanentware, table coverings, cookware, catering equipment, fiberglass and composite material trays and dishes, industrial brooms, brushes, mops and rotary brushes for commercial and non‑commercial foodservice operators and sanitary maintenance professionals.

Carlisle Fluid Technologies (“CFT”)—the principal products of this segment are industrial liquid and powder finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings used in the transportation, general industrial, protective coating, wood, specialty and auto refinishing markets.

Carlisle Brake & Friction (“CBF”)—the principal products of this segment include high-performance brakes and friction material and clutch and transmission friction material for the construction, agriculture, mining, on-highway, aerospace and motor sports markets.

As discussed in Note 1, during the fourth quarter of 2017, the Company revised its segment measure of profit and loss to operating income (previously earnings before interest and taxes).The Company has reclassified certain prior period amounts to conform to the current period presentation of operating income.

Summary financial information by reportable business segment for the years ended December 31 follows:



(in millions)	Net Sales		Operating Income					Assets		Depreciation and Amortization		Capital Spending
2017
Carlisle Construction Materials	$	2,336.2	$	421.9				$	1,898.6	$	41.9	$	61.0
Carlisle Interconnect Technologies	815.3		89.5					1,473.0		55.8		53.2
Carlisle FoodService Products	339.1		39.5					469.3		22.8		8.9
Carlisle Fluid Technologies	281.4		16.1					678.7		23.0		8.8
Carlisle Brake & Friction	317.9		2.6					433.8		23.0		26.8
Segment Total	4,089.9		569.6					4,953.4		166.5		158.7
Corporateand unallocated ⁽¹⁾	—		(63.9		)			346.4		2.6		1.2
Total	$	4,089.9	$	505.7				$	5,299.8	$	169.1	$	159.9
2016
Carlisle Construction Materials	2,052.6		430.3					891.6		35.6		24.9
Carlisle Interconnect Technologies	834.6		143.9					1,446.3		48.8		43.9
Carlisle FoodService Products	250.2		31.5					206.1		9.1		8.2
Carlisle Fluid Technologies	269.4		31.2					640.9		20.7		11.7
Carlisle Brake & Friction	268.6		(135.9		)	⁽²	⁾	389.9		20.8		9.4
Segment Total	3,675.4		501.0					3,574.8		135.0		98.1
Corporate and unallocated ⁽¹⁾	—		(62.9		)			391.0		2.8		10.7
Total	$	3,675.4	$	438.1				$	3,965.8	$	137.8	$	108.8
2015
Carlisle Construction Materials	$	2,002.6	$	351.1				$	899.2	$	37.3	$	21.0
Carlisle Interconnect Technologies	784.6		143.0					1,264.0		44.3		31.6
Carlisle FoodService Products	242.6		27.3					199.0		9.7		6.3
Carlisle Fluid Technologies	203.2		20.9					659.5		15.0		1.9
Carlisle Brake & Friction	310.2		17.4					553.0		21.4		11.1
Segment Total	3,543.2		559.7					3,574.7		127.7		71.9
Corporate and unallocated⁽¹⁾	—		(56.4		)			376.2		1.6		0.2
Total	$	3,543.2	$	503.3				$	3,950.9	$	129.3	$	72.1


⁽¹⁾	Corporate operating income includes other unallocated costs, primarily general corporate expenses. Corporate assets consist primarily of cash and cash equivalents, deferred taxes and other invested assets.


⁽²⁾	Includes impairment charges of $141.5 million. Refer to for further discussion.

Geographic Area Information—Net sales are based on the country to which the product was delivered. Net sales by region for the years ended December 31 follows:



(in millions)	2017		2016		2015
United States	$	3,162.2	$	2,835.7	$	2,659.4
International:
Europe	411.3		381.8		384.4
Asia	272.2		241.9		225.5
Canada	90.9		77.2		114.9
Mexico and Latin America	79.3		76.1		81.6
Middle East and Africa	43.4		42.6		55.7
Other	30.6		20.1		21.7
Net sales	$	4,089.9	$	3,675.4	$	3,543.2

Long‑lived assets, excluding deferred tax assets and intangible assets, by region as of December 31 follows:



(in millions)	2017		2016
United States	$	618.1	$	495.5
International:
Europe	83.4		48.4
Asia	46.6		38.3
Mexico and Latin America	37.0		28.4
United Kingdom	27.2		21.3
Other	0.5		0.3
Total long-lived assets	$	812.8	$	632.2

Customer Information—Net sales to Beacon Roofing Supply, Inc. accounted for approximately 10% of the Company’s consolidated net sales during the year ended December 31, 2015. Sales to this customer originate in the CCM segment. No customer accounted for 10% or more of the Company’s total net sales for the years ended December 31, 2017 and 2016.