Annual report pursuant to Section 13 and 15(d)

Segment and Geographical Information

v2.3.0.15
Segment and Geographical Information
12 Months Ended
Sep. 30, 2011
Segment and Geographical Information  
Segment and Geographical Information

15.             Segment and Geographical Information

 

With the acquisitions of K-Tron in fiscal 2010 and Rotex in fiscal 2011, we conduct our operations through two reportable business segments: Batesville and Process Equipment Group.  These reporting segments are determined on the basis of how we internally report and evaluate financial information used to make operating decisions and evaluate results.

 

We record the direct costs of business operations to the applicable reporting segment, 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 generally do not allocate these types of expenses to reporting segments.

 

 

 

September 30,

 

 

 

2011

 

2010

 

2009

 

Net revenue

 

 

 

 

 

 

 

Batesville

 

$

637.5

 

$

640.3

 

$

649.1

 

Process Equipment Group

 

245.9

 

108.9

 

—

 

Total net revenue

 

$

883.4

 

$

749.2

 

$

649.1

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

Batesville

 

$

264.2

 

$

277.7

 

$

274.4

 

Process Equipment Group

 

105.7

 

35.6

 

—

 

Total gross profit

 

$

369.9

 

$

313.3

 

$

274.4

 

 

 

 

 

 

 

 

 

Operating profit (loss)

 

 

 

 

 

 

 

Batesville

 

$

162.7

 

$

175.1

 

$

178.5

 

Process Equipment Group

 

33.4

 

2.2

 

—

 

Corporate

 

(37.5

)

(39.4

)

(23.5

)

Total operating profit

 

$

158.6

 

$

137.9

 

$

155.0

 

 

 

 

 

 

 

 

 

EBITDA

 

 

 

 

 

 

 

Batesville

 

$

178.1

 

$

191.7

 

$

195.4

 

Process Equipment Group

 

50.2

 

11.7

 

—

 

Corporate

 

(30.8

)

(37.6

)

(28.1

)

Total EBITDA

 

$

197.5

 

$

165.8

 

$

167.3

 

 

 

 

 

 

 

 

 

Net revenue(1)

 

 

 

 

 

 

 

United States

 

$

741.2

 

$

662.6

 

$

606.3

 

Canada

 

50.2

 

42.2

 

35.5

 

Switzerland

 

73.0

 

34.6

 

—

 

All other foreign business units

 

19.0

 

9.8

 

7.3

 

Total revenue

 

$

883.4

 

$

749.2

 

$

649.1

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

Batesville

 

$

17.8

 

$

17.6

 

$

17.6

 

Process Equipment Group

 

17.5

 

9.7

 

—

 

Corporate

 

0.8

 

0.9

 

0.9

 

Total depreciation and amortization

 

$

36.1

 

$

28.2

 

$

18.5

 

 

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

 

Batesville

 

2011 results include $1.3 antitrust litigation expenses and $1.3 restructuring charges classified as operating expenses.  Batesville recognized $0.8 of sales tax recoveries as a benefit within operating expenses in 2011.

 

2010 results include $5.0 antitrust litigation expenses classified as operating expenses.  Batesville recognized $4.7 of sales tax recoveries as a benefit within operating expenses.

 

2009 results include $2.2 antitrust litigation expenses classified as operating expenses.

 

Process Equipment Group

 

2011 results include $2.8 inventory step-up classified as cost of goods sold; and $0.3 business acquisition costs and $0.8 backlog amortization, classified as operating expenses.

 

2010 results include $11.6 inventory step-up classified as cost of goods sold; and $0.3 business acquisition costs and $1.7 backlog amortization, classified as operating expenses.

 

Corporate

 

Business acquisition costs of $6.0 and $10.2 were classified as operating expenses in 2011 and 2010.  2010 results include $3.0 restructuring charges classified as operating expenses.  2009 results include $0.1 separation costs classified as operating expenses.

 

 

 

September 30,

 

 

 

2011

 

2010

 

Total assets assigned

 

 

 

 

 

Batesville

 

$

246.5

 

$

249.0

 

Process Equipment Group

 

847.8

 

558.1

 

Corporate

 

86.4

 

241.8

 

Total assets

 

$

1,180.7

 

$

1,048.9

 

 

 

 

 

 

 

Tangible long-lived assets

 

 

 

 

 

United States

 

$

106.8

 

$

96.2

 

Switzerland

 

11.0

 

10.6

 

All other foreign business units

 

2.8

 

2.8

 

Total property, net

 

$

120.6

 

$

109.6