SEGMENT INFORMATION

The Company's operating segments were determined based on how the Company's chief operating decision maker views and evaluates operations. The Company’s reportable segments are described below:


•	Buildings and Infrastructure: This segment primarily serves customers working in architecture, engineering, construction, and operations and maintenance.


•	Geospatial: This segment primarily serves customers working in surveying, engineering, government, and land management.


•	Resources and Utilities: This segment primarily serves customers working in agriculture, forestry, and utilities.


•	Transportation: This segment primarily serves customers working in long haul trucking, field service management, rail, and military aviation.

The following Reporting Segment tables reflect the results of the Company’s reportable operating segments under its management reporting system. These results are not necessarily in conformity with U.S. GAAP. The Company presents segment revenue and income excluding the effects of certain acquired deferred revenue that was written down to fair value in purchase accounting. Segment income presented also excludes the effects of certain acquired capitalized commissions that were eliminated in purchase accounting, along with other adjustments that have historically been excluded in prior periods, as though the acquired companies operated independently in the periods presented. This is consistent with the way the chief operating decision maker evaluates each of the segment's performance and allocates resources. Comparative period financial information by reportable segment has been recast to conform with the current presentation.



	Reporting Segments
	Buildings and Infrastructure			Geospatial		Resources and Utilities			Transportation		Total
(In millions)
First Quarter of Fiscal 2019
Revenue	$	292.0		$	161.2	$	159.3		$	189.1	$	801.6
Acquired deferred revenue adjustment	2.7			—		0.2			—		2.9
Segment revenue	$	294.7		$	161.2	$	159.5		$	189.1	$	804.5

Operating income	$	61.4		$	29.4	$	51.0		$	31.2	$	173.0
Acquired deferred revenue adjustment	2.7			—		0.2			—		2.9
Amortization of acquired capitalized commissions	(1.6		)	—		(0.1		)	—		(1.7		)
Segment operating income	$	62.5		$	29.4	$	51.1		$	31.2	$	174.2

Depreciation expense	$	2.1		$	1.6	$	1.1		$	1.1	$	5.9

First Quarter of Fiscal 2018
Revenue	$	224.7		$	174.5	$	159.2		$	183.8	$	742.2
Acquired deferred revenue adjustment	2.5			—		0.3			0.1		2.9
Segment revenue	$	227.2		$	174.5	$	159.5		$	183.9	$	745.1

Operating income	$	43.5		$	37.3	$	51.7		$	30.4	$	162.9
Acquired deferred revenue adjustment	2.5			—		0.3			0.1		2.9
Amortization of acquired capitalized commissions	(0.4		)	—		(0.1		)	—		(0.5		)
Segment operating income	$	45.6		$	37.3	$	51.9		$	30.5	$	165.3

Depreciation expense	$	1.4		$	1.4	$	1.0		$	1.1	$	4.9



	Reporting Segments
	Buildings and Infrastructure		Geospatial		Resources and Utilities		Transportation		Total
(In millions)
As of the First Quarter of Fiscal 2019
Accounts receivable, net	$	186.2	$	111.3	$	101.7	$	126.0	$	525.2
Inventories	64.7		136.7		43.9		58.4		303.7
Goodwill	1,973.3		401.5		305.2		860.8		3,540.8
As of Fiscal Year End 2018
Accounts receivable, net	177.5		118.7		83.8		132.6		512.6
Inventories	70.3		133.5		46.2		48.0		298.0
Goodwill	$	1,970.2	$	403.1	$	305.7	$	861.0	$	3,540.0

A reconciliation of the Company’s consolidated segment operating income to consolidated income before income taxes is as follows:



	First Quarter of
	2019			2018
(In millions)
Consolidated segment operating income	$	174.2		$	165.3
Unallocated corporate expense	(21.3		)	(23.4		)
Restructuring charges	(3.7		)	(1.4		)
Acquired deferred revenue adjustment	(2.9		)	(2.9		)
Amortization of purchased intangible assets	(44.3		)	(40.5		)
Stock-based compensation	(16.3		)	(17.4		)
Amortization of acquired capitalized commissions	1.7			0.5
Acquisition / divestiture items	(1.1		)	(16.0		)
Consolidated operating income	86.3			64.2
Non-operating income (expense), net:	(11.1		)	2.5
Consolidated income before taxes	$	75.2		$	66.7

On a total Company basis, the disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and excludes the effects of certain acquired deferred revenue that was written down to fair value in purchase accounting, consistent with the Reporting Segment tables above.



	Reporting Segments
	Buildings and Infrastructure		Geospatial		Resources and Utilities		Transportation		Total
(In millions)
First Quarter of Fiscal 2019
North America	$	165.6	$	62.9	$	41.9	$	152.0	$	422.4
Europe	83.9		54.7		88.9		21.1		248.6
Asia Pacific	38.5		31.7		12.7		10.5		93.4
Rest of World	6.7		11.9		16.0		5.5		40.1
Total consolidated revenue	$	294.7	$	161.2	$	159.5	$	189.1	$	804.5
First Quarter of Fiscal 2018
North America	$	115.9	$	69.4	$	48.4	$	151.2	$	384.9
Europe	75.6		49.6		80.2		21.4		226.8
Asia Pacific	29.2		43.3		11.2		10.8		94.5
Rest of World	6.5		12.2		19.7		0.5		38.9
Total consolidated revenue	$	227.2	$	174.5	$	159.5	$	183.9	$	745.1