Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information

v2.4.0.8
Segment and Geographical Information
12 Months Ended
Sep. 30, 2013
Segment and Geographical Information  
Segment and Geographical Information

13.             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 technology costs, we do not allocate these types of corporate expenses to the reporting segments.

 

 

 

September 30,

 

 

 

2013

 

2012

 

2011

 

Net revenue

 

 

 

 

 

 

 

Process Equipment Group

 

$

932.7

 

$

376.4

 

$

245.9

 

Batesville

 

620.7

 

606.8

 

637.5

 

Total net revenue

 

$

1,553.4

 

$

983.2

 

$

883.4

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

 

 

 

 

 

 

Process Equipment Group

 

$

116.4

 

$

79.7

 

$

53.3

 

Batesville

 

161.0

 

152.8

 

179.9

 

Corporate

 

(29.9

)

(25.1

)

(24.8

)

 

 

 

 

 

 

 

 

Net revenue(1)

 

 

 

 

 

 

 

United States

 

$

886.3

 

$

817.5

 

$

741.2

 

International

 

667.1

 

165.7

 

142.2

 

Total revenue

 

$

1,553.4

 

$

983.2

 

$

883.4

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

Process Equipment Group

 

$

71.1

 

$

23.3

 

$

17.5

 

Batesville

 

17.9

 

16.6

 

17.8

 

Corporate

 

0.4

 

0.5

 

0.8

 

Total depreciation and amortization

 

$

89.4

 

$

40.4

 

$

36.1

 

 

(1) We attribute revenue to a geography based upon the location of the business unit that consummates the external sale.

 

 

 

September 30,

 

 

 

2013

 

2012

 

Total assets assigned

 

 

 

 

 

Process Equipment Group

 

$

1,708.6

 

$

769.7

 

Batesville

 

238.3

 

236.2

 

Corporate

 

56.3

 

81.6

 

Total assets

 

$

2,003.2

 

$

1,087.5

 

 

 

 

 

 

 

Tangible long-lived assets, net

 

 

 

 

 

United States

 

$

101.9

 

$

100.4

 

International

 

70.0

 

17.5

 

Tangible long-lived assets, net

 

$

171.9

 

$

117.9

 

 

The following schedule reconciles segment adjusted EBITDA to consolidated net income.

 

 

 

Year Ended September 30,

 

 

 

2013

 

2012

 

2011

 

Adjusted EBITDA:

 

$

 

 

$

 

 

$

 

 

Process Equipment Group

 

116.4

 

79.7

 

53.3

 

Batesville

 

161.0

 

152.8

 

179.9

 

Corporate

 

(29.9

)

(25.1

)

(24.8

)

Less:

 

 

 

 

 

 

 

Interest income

 

(0.6

)

(0.5

)

(7.4

)

Interest expense

 

24.0

 

12.4

 

11.0

 

Income tax expense

 

28.3

 

30.1

 

51.7

 

Depreciation and amortization

 

89.4

 

40.4

 

36.1

 

Business acquisition costs

 

16.0

 

4.2

 

6.3

 

Inventory step-up

 

21.8

 

 

2.8

 

Restructuring

 

2.8

 

8.3

 

1.3

 

Long-term incentive compensation related to the international integration

 

 

2.2

 

 

Antitrust litigation

 

0.2

 

5.5

 

1.3

 

Other

 

0.2

 

 

(0.8

)

Consolidated net income

 

$

65.4

 

$

104.8

 

$

106.1