Segments | Segments Management monitors the operating results of its operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Management evaluates performance on the basis of Adjusted EBITDA. Adjusted EBITDA is defined as consolidated net income, plus the sum of: interest expense, net of interest income; income tax expense; depreciation; amortization; impairment charges; other operating expenses, net; and other income (expense), net. Transfer prices between operating segments are set on an arms-length basis in a similar manner to transactions with third parties. Corporate operating expenses that directly benefit segments have been allocated to the operating segments. Allocable operating expenses are identified through a review process by management. These costs are allocated to the operating segments on a basis that reasonably approximates the use of services. This is typically measured on a weighted distribution of margin, asset, headcount or time spent. Other/Eliminations represents the elimination of inter-segment transactions as well as unallocated corporate costs consisting of costs specifically related to parent company operations that do not directly benefit segments, either individually or collectively. Financial information for the Company’s segments is as follows: (in millions) USA Canada EMEA Rest of Other/ Consolidated Three Months Ended September 30, 2016 Net sales: External customers $ 1,222.1 $ 260.8 $ 412.5 $ 104.3 $ — $ 1,999.7 Inter-segment 21.2 2.1 1.1 — (24.4 ) — Total net sales 1,243.3 262.9 413.6 104.3 (24.4 ) 1,999.7 Cost of goods sold (exclusive of depreciation) 974.0 207.3 320.8 83.9 (24.4 ) 1,561.6 Gross profit 269.3 55.6 92.8 20.4 — 438.1 Outbound freight and handling 52.3 9.0 13.1 1.8 — 76.2 Warehousing, selling and administrative 126.9 20.6 51.2 11.7 5.6 216.0 Adjusted EBITDA $ 90.1 $ 26.0 $ 28.5 $ 6.9 $ (5.6 ) $ 145.9 Other operating expenses, net 12.1 Depreciation 42.4 Amortization 22.5 Impairment charges 133.9 Interest expense, net 39.5 Other expense, net 3.1 Income tax benefit (44.6 ) Net loss $ (63.0 ) Total assets $ 3,824.4 $ 1,824.3 $ 971.9 $ 232.5 $ (1,256.2 ) $ 5,596.9 (in millions) USA Canada EMEA Rest of Other/ Consolidated Three Months Ended September 30, 2015 Net sales: External customers $ 1,364.6 $ 290.7 $ 433.2 $ 117.8 $ — $ 2,206.3 Inter-segment 34.4 2.2 1.1 0.1 (37.8 ) — Total net sales 1,399.0 292.9 434.3 117.9 (37.8 ) 2,206.3 Cost of goods sold (exclusive of depreciation) 1,118.3 240.0 341.7 93.6 (37.8 ) 1,755.8 Gross profit 280.7 52.9 92.6 24.3 — 450.5 Outbound freight and handling 55.6 9.0 14.6 2.2 — 81.4 Warehousing, selling and administrative 121.7 20.3 56.7 12.3 1.9 212.9 Adjusted EBITDA $ 103.4 $ 23.6 $ 21.3 $ 9.8 $ (1.9 ) $ 156.2 Other operating expenses, net 10.2 Depreciation 34.3 Amortization 22.0 Interest expense, net 39.6 Loss on extinguishment of debt 4.8 Other expense, net 25.6 Income tax expense 7.6 Net income $ 12.1 Total assets (as adjusted*) $ 4,274.9 $ 1,769.1 $ 1,004.4 $ 246.0 $ (1,474.3 ) $ 5,820.1 * Adjusted due to the adoption of ASU 2015-03 and ASU 2015-15. (in millions) USA Canada EMEA Rest of Other/ Consolidated Nine Months Ended September 30, 2016 Net sales: External customers $ 3,622.4 $ 1,018.9 $ 1,309.8 $ 310.1 $ — $ 6,261.2 Inter-segment 73.1 6.1 3.5 — (82.7 ) — Total net sales 3,695.5 1,025.0 1,313.3 310.1 (82.7 ) 6,261.2 Cost of goods sold (exclusive of depreciation) 2,900.2 858.2 1,021.2 250.5 (82.7 ) 4,947.4 Gross profit 795.3 166.8 292.1 59.6 — 1,313.8 Outbound freight and handling 148.2 25.2 41.9 5.5 — 220.8 Warehousing, selling and administrative 393.0 62.4 160.4 35.1 13.9 664.8 Adjusted EBITDA $ 254.1 $ 79.2 $ 89.8 $ 19.0 $ (13.9 ) $ 428.2 Other operating expenses, net 29.1 Depreciation 113.9 Amortization 67.8 Impairment charges 133.9 Interest expense, net 120.5 Other expense, net 10.8 Income tax benefit (38.6 ) Net loss $ (9.2 ) Total assets $ 3,824.4 $ 1,824.3 $ 971.9 $ 232.5 $ (1,256.2 ) $ 5,596.9 (in millions) USA Canada EMEA Rest of Other/ Consolidated Nine Months Ended September 30, 2015 Net sales: External customers $ 4,148.8 $ 1,118.5 $ 1,377.0 $ 371.2 $ — $ 7,015.5 Inter-segment 83.9 6.3 2.9 0.1 (93.2 ) — Total net sales 4,232.7 1,124.8 1,379.9 371.3 (93.2 ) 7,015.5 Cost of goods sold (exclusive of depreciation) 3,386.0 955.6 1,086.9 300.9 (93.2 ) 5,636.2 Gross profit 846.7 169.2 293.0 70.4 — 1,379.3 Outbound freight and handling 165.1 29.8 45.7 6.8 — 247.4 Warehousing, selling and administrative 375.5 64.9 171.7 39.5 9.8 661.4 Adjusted EBITDA $ 306.1 $ 74.5 $ 75.6 $ 24.1 $ (9.8 ) $ 470.5 Other operating expenses, net 57.3 Depreciation 104.0 Amortization 66.3 Interest expense, net 165.9 Loss on extinguishment of debt 12.1 Other expense, net 30.9 Income tax expense 14.6 Net income $ 19.4 Total assets (as adjusted*) $ 4,274.9 $ 1,769.1 $ 1,004.4 $ 246.0 $ (1,474.3 ) $ 5,820.1 * Adjusted due to the adoption of ASU 2015-03 and ASU 2015-15. |