Energizer 2015 Annual Report Download - page 39

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35
Segment Profit
For the years ended September 30,
2015 % Chg 2014 % Chg 2013
North America
Segment Profit - prior year $ 263.9 $ 307.1 $ 302.9
Organic (24.5)(9.3)% (39.2) (12.8)% 4.5
Impact of currency (4.8)(1.8)% (4.0) (1.3)% (0.3)
Segment Profit - current year $ 234.6 (11.1)% $ 263.9 (14.1)% $ 307.1
Latin America
Segment Profit - prior year $ 26.4 $ 32.9 $ 32.3
Organic 12.1 45.8 % 5.0 15.2 % 6.2
International Go-to-Market 2.0 7.6 % — — % —
Change in Venezuela results (10.6)(40.2)% — — % —
Impact of currency (9.2)(34.8)% (11.5) (35.0)% (5.6)
Segment Profit - current year $ 20.7 (21.6)% $ 26.4 (19.8)% $ 32.9
EMEA
Segment Profit - prior year $ 61.4 $ 49.9 $ 50.4
Organic 28.8 47.0 % 11.5 23.0 % 3.7
International Go-to-Market 1.8 2.9 % — — % —
Impact of currency (33.7)(54.9)% — — % (4.2)
Segment Profit - current year $ 58.3 (5.0)% $ 61.4 23.0 % $ 49.9
Asia Pacific
Segment Profit - prior year $ 97.1 $ 98.2 $ 85.9
Organic 0.9 0.9 % 7.7 7.9 % 13.9
International Go-to-Market (0.9)(0.9)% — — % —
Impact of currency (19.2)(19.8)% (8.8) (9.0)% (1.6)
Segment Profit - current year $ 77.9 (19.8)% $ 97.1 (1.1)% $ 98.2
Total Segment Profit
Segment Profit - prior year $ 448.8 $ 488.1 $ 471.5
Organic 17.3 3.9 % (15.0) (3.1)% 28.3
International Go-to-Market 2.9 0.6 % — — % —
Change in Venezuela results (10.6)(2.4)% — — % —
Impact of currency (66.9)(14.9)% (24.3) (5.0)% (11.7)
Segment Profit - current year $ 391.5 (12.8)% $ 448.8 (8.1)% $ 488.1
Refer to Note 21, Segments, in the Consolidated Financial Statements for a reconciliation from segment profit
to earnings before income taxes.
Total segment profit in fiscal 2015 was $391.5, a decrease of 12.8% versus the prior fiscal year, including a
decrease of $66.9, or 14.9%, due to unfavorable movement in foreign currency rates, a $10.6 decrease due to the
change in Venezuela results (due to the previously announced deconsolidation) and a $2.9 increase related to the initial
impacts of the international go-to-market changes (including exits and shift to distributors). Excluding the impact of
these items, organic segment profit increased 3.9%. Segment operating profit results for the twelve months ended
September 30, 2015 are as follows:
• North America segment profit was $234.6, a decrease of $29.3, or 11.1%, versus the prior fiscal year inclusive
of the negative $4.8 impact of currency movements. Excluding the impact of currency movements, segment
profit decreased $24.5, or 9.3%, due to the gross profit impact of the net sales shortfall mentioned above as well
as increased A&P spending driven by the launch of EcoAdvanced. These items were partially offset by
savings realized from the 2013 restructuring project.