Hillenbrand, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information (Tables)

Segment and Geographical Information (Tables)

12 Months Ended

Sep. 30, 2017

Schedule of Segment Reporting Information, by Segment



	Year Ended September 30,
	2017			2016			2015
Net revenue
Process Equipment Group	$	1,028.2		$	964.7		$	992.8
Batesville	562.0			573.7			604.0
Total net revenue	$	1,590.2		$	1,538.4		$	1,596.8

Adjusted EBITDA
Process Equipment Group	$	177.7		$	160.9		$	160.5
Batesville	141.9			143.5			145.5
Corporate	(38.6		)	(37.3		)	(37.3		)

Net revenue^{(1) (2)}
United States	$	896.1		$	857.0		$	915.0
Germany	425.6			403.0			420.7
All other foreign business units	268.5			278.4			261.1
Total revenue	$	1,590.2		$	1,538.4		$	1,596.8

Depreciation and amortization
Process Equipment Group	$	41.3		$	45.2		$	37.2
Batesville	13.8			14.1			15.8
Corporate	1.5			1.1			1.3
Total depreciation and amortization	$	56.6		$	60.4		$	54.3

(1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.

(2) In 2017, the Company corrected its disclosure of net revenue by geography. The effect of this adjustment for the year ended September 30, 2016 was to decrease Germany net revenue by $79.7, from $482.7 as previously disclosed to $403.0 and to increase the All other foreign business units net revenue by $79.7, from $198.7 as previously disclosed to $278.4. The effect for the year ended September 30, 2015 was to decrease Germany net revenue by $56.6, from $477.3 as previously disclosed to $420.7 and to increase the All other foreign business units net revenue by $56.6, from $204.5 as previously disclosed to $261.1. Management performed an assessment of the materiality of this correction and concluded that the net revenue by geography as originally disclosed was not material to previously issued financial statements.

Schedule of Assets from Segment and Long Lived Assets by Geographical Area



	September 30,
	2017		2016
Total assets assigned
Process Equipment Group	$	1,722.2	$	1,694.6
Batesville	203.4		211.8
Corporate	30.9		53.3
Total assets	$	1,956.5	$	1,959.7

Tangible long-lived assets, net
United States	$	84.4	$	89.5
Germany	39.0		35.8
All other foreign business units	27.0		27.2
Tangible long-lived assets, net	$	150.4	$	152.5

Reconciliation of Adjusted Earnings before Interest, Tax, Depreciation and Amortization from Segments to Consolidated

The following schedule reconciles segment adjusted EBITDA to consolidated net income.



	Year Ended September 30,
	2017			2016			2015
Adjusted EBITDA:
Process Equipment Group	$	177.7		$	160.9		$	160.5
Batesville	141.9			143.5			145.5
Corporate	(38.6		)	(37.3		)	(37.3		)
Less:
Interest income	(0.9		)	(1.2		)	(1.0		)
Interest expense	25.2			25.3			23.8
Income tax expense	59.9			47.3			49.1
Depreciation and amortization	56.6			60.4			54.3
Business acquisition costs	1.1			3.7			3.6
Inventory step-up	—			2.4			—
Restructuring and restructuring related	10.7			10.2			7.5
Litigation	—			—			0.5
Pension settlement charge	—			—			17.7
Trade name impairment	—			2.2			—
Consolidated net income	$	128.4		$	116.8		$	113.2