Energizer 2000 Annual Report Download - page 46

ENERGIZER 2000 ANNUAL REPORT
44
2000 1999 1998
Net Sales Total External Total External Total External
Sales Sales Sales Sales Sales Sales
North America $ 1,226.3 $1,122.0 $1,135.9 $1,035.9 $1,104.3 $ 1,005.4
Asia Pacific 462.9 393.2 430.0 384.8 448.6 396.9
Europe 281.2 272.7 320.3 317.0 369.5 365.7
South and Central America 144.2 126.4 151.2 134.6 179.9 153.8
Total Net Sales $ 1,914.3 $1,872.3 $ 1,921.8
2000 1999 1998
Operating Profit before Restructuring Charges
and Amortization
North America $ 311.9 $ 291.4 $ 279.8
Asia Pacific 111.9 89.2 100.3
Europe (0.2) (1.2) 11.3
South and Central America 12.1 14.5 16.9
Total segment profitability 435.7 393.9 408.3
General corporate expenses (37.4) (54.0) (46.2)
Research and development expense (49.9) (48.5) (46.6)
Operating profit before restructuring
charges and amortization 348.4 291.4 315.5
Restructuring charges –(9.9) (21.3)
Costs related to spin-off (5.5) ––
Loss on disposition of Spanish affiliate (15.7) ––
Amortization (24.1) (25.0) (25.9)
Interest and other financial items (23.9) (8.3) (5.8)
Total Earnings from Continuing Operations
before Income Taxes $ 279.2 $ 248.2 $ 262.5
Depreciation
North America $ 34.8 $ 45.0 $ 50.1
Asia Pacific 12.4 11.1 10.0
Europe 7.7 10.3 12.4
South and Central America 3.0 2.0 1.6
Total Depreciation Expense $ 57.9 $ 68.4 $ 74.1
(21) SEGMENT INFORMATION
Energizer manufactures and markets dry cell batteries including
alkaline, carbon zinc, miniature and specialty batteries, and flash-
lights and other lighting products throughout the world. Operations
are managed via four major geographic areas – North America
(including the United States and Canada), Asia Pacific, Europe,
and South and Central America (including Mexico). This structure
is the basis for Energizer’s reportable operating segment information
disclosed below. Segment performance is evaluated based on oper-
ating profit, exclusive of general corporate expenses, restructuring
charges and amortization of goodwill and intangibles. Financial
items, such as interest income and expense, are managed on a
global basis at the corporate level.
Intersegment sales are generally valued at market-based prices and
represent the difference between total sales and external sales as
presented in the table below. Segment profitability includes profit on
these intersegment sales. One single mass merchandiser accounted
for 15.3%, 13.5% and 11.5% of total net sales in 2000, 1999 and
1998, respectively, primarily in North America.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (Dollars in millions except per share data)