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Segment Reporting
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING

The Company’s four reportable segments distribute a full range of agricultural equipment and related replacement parts. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and nine months ended September 30, 2019 and 2018 and assets as of September 30, 2019 and December 31, 2018 based on the Company’s reportable segments were as follows (in millions):
Three Months Ended September 30,
 
North America
 
South America
 
Europe/Middle East
 
Asia/Pacific/Africa
 
Consolidated
2019
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
536.2

 
$
239.4

 
$
1,145.7

 
$
188.1

 
$
2,109.4

Income (loss) from operations
 
32.5

 
(5.6
)
 
122.0

 
11.5

 
160.4

Depreciation
 
15.0

 
8.0

 
25.4

 
3.7

 
52.1

Capital expenditures
 
11.4

 
7.7

 
51.2

 
2.9

 
73.2

2018
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
545.5

 
$
281.1

 
$
1,164.5

 
$
223.6

 
$
2,214.7

Income from operations
 
32.5

 
12.6

 
108.6

 
17.6

 
171.3

Depreciation
 
17.4

 
7.2

 
26.4

 
4.0

 
55.0

Capital expenditures
 
8.6

 
7.0

 
30.3

 
2.8

 
48.7

Nine Months Ended September 30,
 
North
America
 
South
America
 
Europe/
Middle East
 
Asia/
Pacific/Africa
 
Consolidated
2019
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,651.3

 
$
581.3

 
$
3,813.5

 
$
481.7

 
$
6,527.8

Income (loss) from operations
 
114.5

 
(21.2
)
 
458.5

 
21.9

 
573.7

Depreciation
 
46.7

 
24.7

 
77.8

 
10.0

 
159.2

Capital expenditures
 
41.3

 
24.8

 
116.1

 
5.9

 
188.1

2018
 
 

 
 

 
 

 
 

 
 

Net sales
 
$
1,648.9

 
$
682.8

 
$
3,873.4

 
$
554.7

 
$
6,759.8

Income (loss) from operations
 
96.9

 
(20.7
)
 
416.1

 
26.9

 
519.2

Depreciation
 
51.4

 
22.5

 
84.8

 
11.4

 
170.1

Capital expenditures
 
30.8

 
21.2

 
79.7

 
6.8

 
138.5

Assets
 
 
 
 
 
 
 
 
 
 
As of September 30, 2019
 
$
1,228.3

 
$
810.9

 
$
2,245.7

 
$
502.9

 
$
4,787.8

As of December 31, 2018
 
1,032.1

 
736.1

 
1,905.8

 
501.1

 
4,175.1


A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Segment income from operations
$
160.4

 
$
171.3

 
$
573.7

 
$
519.2

Corporate expenses
(30.5
)
 
(33.5
)
 
(95.2
)
 
(99.4
)
Stock compensation expense
(7.8
)
 
(9.7
)
 
(32.0
)
 
(30.6
)
Restructuring expenses
(1.3
)
 
(1.5
)
 
(3.0
)
 
(10.1
)
Amortization of intangibles
(14.9
)
 
(15.3
)
 
(45.6
)
 
(49.2
)
Consolidated income from operations
$
105.9

 
$
111.3

 
$
397.9

 
$
329.9


 
September 30, 2019
 
December 31, 2018
Segment assets
$
4,787.8

 
$
4,175.1

Cash and cash equivalents
282.0

 
326.1

Investments in affiliates
399.2

 
400.0

Deferred tax assets, other current and noncurrent assets
635.5

 
656.6

Intangible assets, net
518.7

 
573.1

Goodwill
1,456.0

 
1,495.5

Consolidated total assets
$
8,079.2

 
$
7,626.4