Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information

v3.19.3
Segment and Geographical Information
12 Months Ended
Sep. 30, 2019
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 reportable 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 reportable segments, including stock-based compensation, asset impairments, restructuring activities, and business acquisition costs.  Corporate provides management and administrative services to each reportable 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 reportable segments.
 
 
Year Ended September 30,
 
2019
 
2018
 
2017
Net revenue
 

 
 

 
 

Process Equipment Group
$
1,274.4

 
$
1,219.5

 
$
1,028.2

Batesville
532.9

 
550.6

 
562.0

Total net revenue
$
1,807.3

 
$
1,770.1

 
$
1,590.2

 
 
 
 
 
 
Adjusted EBITDA
 
 
 

 
 

Process Equipment Group
$
223.3

 
$
215.8

 
$
177.7

Batesville
114.2

 
120.8

 
141.9

Corporate
(42.2
)
 
(42.3
)
 
(38.6
)
 
 
 
 
 
 
Net revenue(1)
 
 
 

 
 

United States
$
892.5

 
$
926.4

 
$
896.1

Germany
568.7

 
512.5

 
425.6

All other foreign business units
346.1

 
331.2

 
268.5

Total revenue
$
1,807.3

 
$
1,770.1

 
$
1,590.2

 
 
 
 
 
 
Depreciation and amortization
 

 
 

 
 

Process Equipment Group
$
45.5

 
$
42.8

 
$
41.3

Batesville
10.7

 
11.9

 
13.8

Corporate
2.3

 
1.8

 
1.5

Total depreciation and amortization
$
58.5

 
$
56.5

 
$
56.6

 
 
(1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.
 
 
September 30,
 
2019
 
2018
Total assets assigned
 

 
 

Process Equipment Group
$
1,729.1

 
$
1,638.8

Batesville
186.1

 
191.8

Corporate
313.4

 
34.0

Total assets
$
2,228.6

 
$
1,864.6

 
 
 
 
Tangible long-lived assets, net
 
 
 

United States
$
75.8

 
$
76.6

Germany
40.2

 
40.7

All other foreign business units
24.3

 
24.7

Tangible long-lived assets, net
$
140.3

 
$
142.0



The following schedule reconciles segment adjusted EBITDA to consolidated net income.
 
Year Ended September 30,
 
2019
 
2018
 
2017
Adjusted EBITDA:
 

 
 

 
 

Process Equipment Group
$
223.3

 
$
215.8

 
$
177.7

Batesville
114.2

 
120.8

 
141.9

Corporate
(42.2
)
 
(42.3
)
 
(38.6
)
Less:
 

 
 

 
 

Interest income
(1.1
)
 
(1.4
)
 
(0.9
)
Interest expense
27.4

 
23.3

 
25.2

Income tax expense
50.5

 
65.3

 
59.9

Depreciation and amortization
58.5

 
56.5

 
56.6

Business acquisition, development, and integration costs
16.6

 
3.5

 
1.1

Restructuring and restructuring related charges
10.6

 
2.5

 
10.7

Loss on settlement of interest rate swaps
6.4

 

 

Inventory step-up
0.2

 

 

Impairment charges

 
63.4

 

Consolidated net income
$
126.2

 
$
81.2

 
$
128.4