Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information

v3.10.0.1
Segment and Geographical Information
12 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Segment and Geographical Information
Segment and Geographical Information
 
We conduct our operations through two reportable business segments: the Process Equipment Group and Batesville.  These reporting segments are determined on the basis of our management structure, and how we internally report financial information used to make operating decisions and evaluate results.
 
We record the direct costs of business operations to the reporting segments, including stock-based compensation, asset impairments, restructuring activities, and business acquisition costs.  Corporate provides management and administrative services to each reporting segment.  These services include treasury management, human resources, legal, business development, and other public company support functions such as internal audit, investor relations, financial reporting, and tax compliance.  With limited exception for certain professional services and back-office and technology costs, we do not allocate these types of corporate expenses to the reporting segments.
 
 
Year Ended September 30,
 
2018
 
2017
 
2016
Net revenue
 

 
 

 
 

Process Equipment Group
$
1,219.5

 
$
1,028.2

 
$
964.7

Batesville
550.6

 
562.0

 
573.7

Total net revenue
$
1,770.1

 
$
1,590.2

 
$
1,538.4

 
 
 
 
 
 
Adjusted EBITDA
 
 
 

 
 

Process Equipment Group
$
215.8

 
$
177.7

 
$
160.9

Batesville
120.8

 
141.9

 
143.5

Corporate
(42.3
)
 
(38.6
)
 
(37.3
)
 
 
 
 
 
 
Net revenue(1)
 
 
 

 
 

United States
$
926.4

 
$
896.1

 
$
857.0

Germany
512.5

 
425.6

 
403.0

All other foreign business units
331.2

 
268.5

 
278.4

Total revenue
$
1,770.1

 
$
1,590.2

 
$
1,538.4

 
 
 
 
 
 
Depreciation and amortization
 

 
 

 
 

Process Equipment Group
$
42.8

 
$
41.3

 
$
45.2

Batesville
11.9

 
13.8

 
14.1

Corporate
1.8

 
1.5

 
1.1

Total depreciation and amortization
$
56.5

 
$
56.6

 
$
60.4

 
 
(1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
 
 
September 30,
 
2018
 
2017
Total assets assigned
 

 
 

Process Equipment Group
$
1,638.8

 
$
1,722.2

Batesville
191.8

 
203.4

Corporate
34.0

 
30.9

Total assets
$
1,864.6

 
$
1,956.5

 
 
 
 
Tangible long-lived assets, net
 
 
 

United States
$
76.6

 
$
84.4

Germany
40.7

 
39.0

All other foreign business units
24.7

 
27.0

Tangible long-lived assets, net
$
142.0

 
$
150.4



The following schedule reconciles segment adjusted EBITDA to consolidated net income.
 
 
Year Ended September 30,
 
2018
 
2017
 
2016
Adjusted EBITDA:
 

 
 

 
 

Process Equipment Group
$
215.8

 
$
177.7

 
$
160.9

Batesville
120.8

 
141.9

 
143.5

Corporate
(42.3
)
 
(38.6
)
 
(37.3
)
Less:
 

 
 

 
 

Interest income
(1.4
)
 
(0.9
)
 
(1.2
)
Interest expense
23.3

 
25.2

 
25.3

Income tax expense
65.3

 
59.9

 
47.3

Depreciation and amortization
56.5

 
56.6

 
60.4

Business acquisition, development, and integration
3.5

 
1.1

 
3.7

Inventory step-up

 

 
2.4

Restructuring and restructuring related
2.5

 
10.7

 
10.2

Impairment charges
63.4

 

 
2.2

Consolidated net income
$
81.2

 
$
128.4

 
$
116.8