Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographical Information

v3.20.4
Segment and Geographical Information
3 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
The Company currently conducts operations through three reportable operating segments: Advanced Process Solutions, Molding Technology Solutions, and Batesville. The Company’s operating segments maintain separate financial information for which results of operations are evaluated on a regular basis by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance.

The Company records the direct costs of business operations to the reportable operating 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, the Company does not allocate these types of corporate expenses to the reportable segments.

The following tables present financial information for the Company’s reportable segments and significant geographical locations:
  Three Months Ended
December 31,
  2020 2019
Net revenue    
Advanced Process Solutions $ 290.8  $ 306.6 
Molding Technology Solutions 236.9  133.3 
Batesville 164.8  127.0 
Total $ 692.5  $ 566.9 
Adjusted EBITDA (1)
   
Advanced Process Solutions $ 48.5  $ 51.5 
Molding Technology Solutions 48.4  26.3 
Batesville 52.3  23.0 
Corporate (11.2) (8.9)
Net revenue (2)
   
United States $ 328.7  $ 282.0 
China 111.9  57.0 
Germany 34.3  35.8 
India 41.5  34.3 
All other foreign business units 176.1  157.8 
Total $ 692.5  $ 566.9 
 
(1)Adjusted earnings before interest, income tax, depreciation, and amortization (“adjusted EBITDA”) is a non-GAAP measure used by management to measure segment performance and make operating decisions. See the Operating Performance Measures section of Management’s Discussion and Analysis for further information on adjusted EBITDA, which is reconciled to consolidated net income (loss) below.
(2)The Company attributes net revenue to a geography based upon the location of the end customer. Previously, the Company attributed net revenue to a geography based upon the location of the business that consummates the external sale for
purpose of this disclosure. As such, the net revenue figures for the three months ended December 31, 2019, have been revised to conform to the current year methodology.
  December 31,
2020
September 30,
2020
Total assets assigned    
Advanced Process Solutions $ 1,659.2  $ 1,666.5 
Molding Technology Solutions 2,074.7  2,032.4 
Batesville 233.0  225.3 
Corporate 48.4  63.2 
Total $ 4,015.3  $ 3,987.4 
Tangible long-lived assets, net    
United States $ 173.6  $ 182.4 
Germany 114.8  110.4 
China 55.4  54.2 
All other foreign business units 116.8  121.6 
Total $ 460.6  $ 468.6 
The following schedule reconciles reportable segment adjusted EBITDA to consolidated net income (loss).
  Three Months Ended
December 31,
2020 2019
Adjusted EBITDA:
Advanced Process Solutions $ 48.5  $ 51.5 
Molding Technology Solutions 48.4  26.3 
Batesville 52.3  23.0 
Corporate (11.2) (8.9)
Less:    
Interest income (0.6) (1.3)
Interest expense 21.2  14.7 
Income tax expense (benefit) 31.3  (12.4)
Depreciation and amortization 29.3  25.9 
Business acquisition, disposition, and integration costs 9.1  53.8 
Restructuring and restructuring related charges 1.5  2.4 
     Inventory step-up —  9.6 
Gain on divestiture (31.6) — 
Other 0.1  — 
Consolidated net income (loss) $ 77.7  $ (0.8)