Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographical Information

v3.8.0.1
Segment and Geographical Information
6 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Segment and Geographical Information
Segment and Geographical Information
 
 
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2018
 
2017
 
2018
 
2017
Net revenue
 

 
 

 
 

 
 

Process Equipment Group
$
299.8

 
$
244.1

 
$
564.1

 
$
465.7

Batesville
152.4

 
151.2

 
285.3

 
285.7

Total
$
452.2

 
$
395.3

 
$
849.4

 
$
751.4

 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
Process Equipment Group
$
49.9

 
$
37.3

 
$
95.5

 
$
70.0

Batesville
38.6

 
42.7

 
66.5

 
73.7

Corporate
(12.2
)
 
(9.7
)
 
(20.5
)
 
(17.0
)
 
 
 
 
 
 
 
 
Net revenue (1)(2)
 
 
 
 
 
 
 
United States
$
246.2

 
$
227.3

 
$
465.0

 
$
428.7

Germany
129.8

 
106.2

 
240.2

 
200.8

All other foreign business units
76.2

 
61.8

 
144.2

 
121.9

Total
$
452.2

 
$
395.3

 
$
849.4

 
$
751.4

 
(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 three months ended March 31, 2017 was to decrease Germany net revenue by $9.6, from $115.8 as previously disclosed, to $106.2, and to increase the All other foreign business units net revenue by the same amount, from $52.2 as previously disclosed, to $61.8. The effect of this adjustment for the six months ended March 31, 2017 was to decrease Germany net revenue by $19.4, from $220.2 as previously disclosed, to $200.8, and to increase the All other foreign business units net revenue by the same amount, from $102.5 as previously disclosed, to $121.9. 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.

 
 
March 31,
2018
 
September 30,
2017
Total assets assigned
 

 
 

Process Equipment Group
$
1,755.4

 
$
1,722.2

Batesville
199.3

 
203.4

Corporate
34.7

 
30.9

Total
$
1,989.4

 
$
1,956.5

 
 
 
 
Tangible long-lived assets, net
 

 
 

United States
$
80.1

 
$
84.4

Germany
39.7

 
39.0

All other foreign business units
26.3

 
27.0

Total
$
146.1

 
$
150.4



The following schedule reconciles segment adjusted EBITDA to consolidated net (loss) income.
 
 
Three Months Ended
March 31,
 
Six Months Ended
March 31,
 
2018
 
2017
 
2018
 
2017
Adjusted EBITDA:
 
 
 
 
 
 
 
Process Equipment Group
$
49.9

 
$
37.3

 
$
95.5

 
$
70.0

Batesville
38.6

 
42.7

 
66.5

 
73.7

Corporate
(12.2
)
 
(9.7
)
 
(20.5
)
 
(17.0
)
Less:
 

 
 

 
 

 
 

Interest income
(0.3
)
 
(0.1
)
 
(0.8
)
 
(0.3
)
Interest expense
6.0

 
6.3

 
12.3

 
12.4

Income tax expense
13.6

 
14.9

 
37.3

 
21.6

Depreciation and amortization
14.0

 
13.6

 
27.8

 
28.6

Impairment charge
63.4

 

 
63.4

 

Business acquisition, development, and integration
0.2

 
0.3

 
2.5

 
0.6

Restructuring and restructuring related
0.7

 
1.3

 
1.2

 
7.9

Consolidated net (loss) income
$
(21.3
)
 
$
34.0

 
$
(2.2
)
 
$
55.9