Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2020

Sales Information By Reportable Segments

Segment results for the three and nine months ended September 30, 2020 and 2019 and assets as of September 30, 2020 and December 31, 2019 based on the Company’s reportable segments are as follows (in millions):


Three Months Ended September 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Consolidated
2020
Net sales	$	582.2	$	273.9	$	1,405.9	$	235.5	$	2,497.5
Income from operations	58.3		16.7		187.5		23.8		286.3
Depreciation	15.4		6.1		26.6		4.5		52.6
Capital expenditures	9.2		2.9		52.8		0.7		65.6
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



Nine Months Ended September 30,	North America		South America		Europe/Middle East		Asia/Pacific/Africa		Consolidated
2020
Net sales	$	1,689.9	$	606.3	$	3,644.2	$	492.2	$	6,432.6
Income from operations	183.9		13.4		380.8		36.5		614.6
Depreciation	46.2		19.6		79.0		10.1		154.9
Capital expenditures	27.5		13.3		137.3		5.0		183.1
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
Assets
As of September 30, 2020	$	1,168.2	$	626.0	$	2,343.2	$	515.4	$	4,652.8
As of December 31, 2019	1,125.6		758.0		2,187.7		430.2		4,501.5

Reconciliation of Income from Operations from Segment to Consolidated

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,
	2020		2019		2020		2019
Segment income from operations	$	286.3	$	160.4	$	614.6	$	573.7
Corporate expenses	(33.0)		(30.5)		(96.5)		(95.2)
Amortization of intangibles	(14.8)		(14.9)		(44.7)		(45.6)
Stock compensation expense	(13.7)		(7.8)		(26.3)		(32.0)
Goodwill impairment charge	—		—		(20.0)		—
Restructuring expenses	(0.8)		(1.3)		(5.4)		(3.0)
Consolidated income from operations	$	224.0	$	105.9	$	421.7	$	397.9

Reconciliation of Assets from Segment to Consolidated


	September 30, 2020		December 31, 2019
Segment assets	$	4,652.8	$	4,501.5
Cash and cash equivalents	511.0		432.8
Investments in affiliates	411.3		380.2
Deferred tax assets, other current and noncurrent assets	629.7		645.2
Intangible assets, net	462.2		501.7
Goodwill	1,273.3		1,298.3
Consolidated total assets	$	7,940.3	$	7,759.7