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Newell Rubbermaid 22 2014 Annual Report
SEGMENT NORMALIZED OPERATING INCOME
Year Ended December 31, 2014
($ amounts in millions)
Home Commercial Baby & Restructuring
Writing Solutions Tools Products Parenting Costs Corporate Total
Netsales      — — 
Operatingincomeasreported      () () 
Restructuringcosts
()
— — — — —  — 
Restructuring-relatedcosts
()
— —   — —  
Productrecallcosts
()
— — — —  — — 
Venezuelainventorycharges
()
 — — — — — — 
Advisorycosts
()
— — — — — —  
Acquisition&integrationcosts
()
—  — —  — — 
Pensionsettlementcharge
()
— — — — — —  
Normalizedoperatingincome       — () 
Normalizedoperatingmargin      
() E
xcluded items consist of organizational change implementation, restructuring-related and restructuring costs. Organizational change implementation and restructuring-related costs of $33.8 million
and restructuring costs of $52.8 million incurred during 2014 relate to Project Renewal. Excluded items also include $10.2 million of advisory costs for process transformation and optimization.
(2) Baby & Parenting normalized operating income for 2014 excludes charges of $15.0 million relating to the Graco product recall.
(3) Writing normalized operating income for 2014 excludes charges of $5.2 million associated with Venezuelan inventory resulting from changes in the exchange rate for the Venezuelan Bolivar.
(4) Home Solutions normalized operating income for 2014 excludes $4.2 million of acquisition and integration charges associated with the acquisitions of Ignite Holdings, LLC and bubba brands,
and Baby & Parenting normalized income for 2014 excludes $1.3 million of costs associated with the acquisition of Baby Jogger.
(5) Normalized income for 2014 excludes $65.4 million of settlement charges associated with the settlement of U.S. pension liabilities.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
HIGHLIGHTS