Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information

v3.21.2
Segment and Geographical Information
12 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
 
The Company conducts operations through three reportable operating segments: Advanced Process Solutions, Molding Technology Solutions, and Batesville. The Company’s 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 operating 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 operating segments.

The following tables present financial information for the Company’s reportable operating segments and significant geographical locations:
  Year Ended September 30,
  2021 2020 2019
Net revenue      
Advanced Process Solutions
$ 1,245.7  $ 1,228.6  $ 1,274.4 
Molding Technology Solutions 995.7  735.8  — 
Batesville 623.4  552.6  532.9 
Total net revenue $ 2,864.8  $ 2,517.0  $ 1,807.3 
Adjusted EBITDA (1)
   
Advanced Process Solutions
$ 234.5  $ 234.5  $ 223.3 
Molding Technology Solutions 201.8  147.0  — 
Batesville 160.2  127.1  114.2 
Corporate (58.3) (44.2) (42.2)
Net revenue (2)
   
United States $ 1,312.8  $ 1,202.8  $ 918.9 
Germany 139.0  149.4  120.9 
China 503.6  349.1  209.9 
India 178.9  122.3  60.6 
All other countries 730.5  693.4  497.0 
Total revenue $ 2,864.8  $ 2,517.0  $ 1,807.3 
(1)  Adjusted EBITDA is a non-GAAP measure used by management to measure segment performance and make operating decisions.
(2)The Company attributes net revenue to a geography based upon the location of the end customer. Prior to fiscal 2021, 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 year ended September 30, 2020, have been revised to conform to the current year methodology.
 
September 30,
  2021 2020
Total assets assigned    
Advanced Process Solutions
$ 1,596.5  $ 1,666.5 
Molding Technology Solutions 2,103.0  2,032.4 
Batesville 231.5  225.3 
Corporate 83.9  63.2 
Total assets $ 4,014.9  $ 3,987.4 
Tangible long-lived assets, net  
United States $ 161.1  $ 182.4 
Germany 113.8  110.4 
China 53.0  54.2 
All other foreign business units 105.3  121.6 
Tangible long-lived assets, net $ 433.2  $ 468.6 

The following schedule reconciles segment adjusted EBITDA to consolidated net income (loss)
  Year Ended September 30,
  2021 2020 2019
Adjusted EBITDA:      
Advanced Process Solutions
$ 234.5  $ 234.5  $ 223.3 
   Molding Technology Solutions 201.8  147.0  — 
Batesville 160.2  127.1  114.2 
Corporate (58.3) (44.2) (42.2)
Less:      
Interest income (3.4) (3.2) (1.1)
Interest expense 77.6  77.4  27.4 
Income tax expense 98.6  34.9  50.5 
Depreciation and amortization 115.2  130.6  58.5 
Impairment charges 11.2  144.8  — 
Business acquisition, disposition, and integration costs 34.5  77.2  16.6 
Restructuring and restructuring-related charges 14.5  9.3  10.6 
Inventory step-up —  40.7  0.2 
(Gain) loss on divestiture (67.1) 3.5  — 
Loss on settlement of interest rate swaps —  —  6.4 
Other 1.9  2.6  — 
Consolidated net income (loss) $ 255.2  $ (53.4) $ 126.2