Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographical Information

v3.22.2
Segment and Geographical Information
9 Months Ended
Jun. 30, 2022
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 reportable 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 operating segment.  These services include treasury management, human resources, legal, business development, information technology, tax compliance, procurement, sustainability, and other public company support functions such as internal audit, investor relations, and financial reporting.  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:
  Three Months Ended June 30, Nine Months Ended June 30,
  2022 2021 2022 2021
Net revenue    
Advanced Process Solutions $ 310.3  $ 313.4  $ 942.0  $ 905.5 
Molding Technology Solutions 269.5  243.8  769.4  735.7 
Batesville 140.8  137.9  479.6  468.7 
Total $ 720.6  $ 695.1  $ 2,191.0  $ 2,109.9 
Adjusted EBITDA (1)
   
Advanced Process Solutions $ 60.6  $ 61.1  $ 180.6  $ 165.3 
Molding Technology Solutions 54.5  49.2  156.7  148.4 
Batesville 25.2  29.8  102.9  126.7 
Corporate (14.6) (13.9) (47.5) (41.9)
Net revenue (2)
   
United States $ 335.3  $ 301.3  $ 999.4  $ 973.1 
China 140.9  135.8  428.9  362.6 
India 46.7  39.0  148.7  127.5 
Germany 33.9  35.2  105.4  101.9 
All other countries 163.8  183.8  508.6  544.8 
Total $ 720.6  $ 695.1  $ 2,191.0  $ 2,109.9 
 
(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.
(2)The Company attributes net revenue to a geography based upon the location of the end customer.
  June 30,
2022
September 30,
2021
Total assets    
Advanced Process Solutions $ 1,447.9  $ 1,596.5 
Molding Technology Solutions 2,083.8  2,103.0 
Batesville 231.7  231.5 
Corporate 130.3  83.9 
Total $ 3,893.7  $ 4,014.9 
Tangible long-lived assets, net    
United States $ 151.7  $ 161.1 
Germany 101.8  113.8 
China 45.9  53.0 
India 41.8  43.9 
All other countries 68.0  61.4 
Total $ 409.2  $ 433.2 

The following schedule reconciles reportable operating segment adjusted EBITDA to consolidated net income:
  Three Months Ended
June 30,
Nine Months Ended
June 30,
2022 2021 2022 2021
Adjusted EBITDA:
Advanced Process Solutions $ 60.6  $ 61.1  $ 180.6  $ 165.3 
Molding Technology Solutions 54.5  49.2  156.7  148.4 
Batesville 25.2  29.8  102.9  126.7 
Corporate (14.6) (13.9) (47.5) (41.9)
Less:    
Interest income (1.3) (0.9) (4.0) (2.5)
Interest expense 17.5  19.0  52.7  59.7 
Income tax expense 22.8  24.4  75.5  86.1 
Depreciation and amortization 26.6  28.7  81.5  86.3 
Business acquisition, disposition, and integration costs 9.7  6.4  21.2  25.2 
Restructuring and restructuring-related charges 0.2  6.5  3.5  10.2 
(Gain) loss on divestitures —  (0.1) 3.1  (65.8)
Other, net 0.1  0.7  3.2  1.1 
Consolidated net income $ 50.1  $ 41.5  $ 156.0  $ 198.2