Toro 2011 Annual Report Download - page 63

Amounts recognized in accumulated other comprehensive loss The company has omitted the remaining disclosures for its
consisted of: defined benefit plans and postretirement healthcare plan as the
company deems these plans to be immaterial to its consolidated
Other financial position and results of operations.
Defined Benefit Postretirement
October 31 Pension Plans Benefit Plans Total
2011
Net actuarial loss $1,788 $2,164 $3,952 12 SEGMENT DATA
Net prior service cost (credit) 192 (344) (152)
The company’s businesses are organized, managed, and internally
Accumulated other comprehensive
loss $1,980 $1,820 $3,800 grouped into segments based on differences in products and ser-
vices. Segment selection was based on the manner in which man-
2010
Net actuarial loss $1,309 $2,221 $3,530 agement organizes segments for making operating decisions and
Net prior service cost (credit) 248 (517) (269) assessing performance. The company has identified eight operat-
Accumulated other comprehensive loss $1,557 $1,704 $3,261 ing segments and has aggregated those segments into three
reportable segments: Professional, Residential, and Distribution.
The following amounts are included in accumulated other com- The aggregation of the company’s segments is based on the seg-
prehensive loss as of October 31, 2011 and are expected to be ments having the following similarities: economic characteristics,
recognized as components of net periodic benefit cost during fiscal types of products and services, types of production processes,
2012. type or class of customers, and method of distribution. The com-
pany’s Distribution segment, which consists of company-owned
Other
Defined Benefit Postretirement domestic distributorships, has been combined with the company’s
Pension Plans Benefit Plans Total corporate activities and elimination of intersegment revenues and
Net loss $331 $ 170 $501 expenses and is shown as ‘‘Other’’ due to the insignificance of the
Net prior service cost (credit) 87 (168) (81) segment.
The Professional business segment consists of turf and land-
Amounts recognized in net periodic benefit cost and other com-
scape equipment and irrigation products. Turf and landscape
prehensive income consisted of:
equipment products include sports fields and grounds maintenance
Other equipment, golf course mowing and maintenance equipment, land-
Defined Benefit Postretirement scape contractor mowing equipment, landscape creation and reno-
Fiscal years ended October 31 Pension Plans Benefit Plans Total vation equipment, lighting products, and other maintenance equip-
2011 ment. Irrigation products consist of sprinkler heads, electric and
Net loss $ 160 $ 271 $ 431 hydraulic valves, controllers, computer irrigation central control sys-
Amortization of unrecognized
tems, and micro-irrigation drip tape and hose products. Profes-
prior service (credit) cost (55) 173 118
Amortization of unrecognized sional business segment products are sold mainly through a net-
actuarial loss (gain) 318 (328) (10) work of distributors and dealers to professional users engaged in
Total recognized in other maintaining golf courses, sports fields, municipal properties, agri-
comprehensive loss (income) $ 423 $ 116 $ 539 cultural fields, and residential and commercial landscapes, as well
Total recognized in net periodic as directly to government customers, rental companies, and large
benefit cost and other retailers.
comprehensive (income) loss $ 714 $1,345 $2,059 The Residential business segment consists of walk power
2010 mowers, riding mowers, snow throwers, replacement parts, and
Net (gain) loss $ (411) $ 669 $ 258 home solutions products, including trimmers, blowers, blower-vacu-
Curtailment gain (578) – (578) ums, and underground and hose-end retail irrigation products sold
Amortization of unrecognized prior in Australia. Residential business segment products are sold to
service (credit) cost (56) 121 65
Amortization of unrecognized homeowners through a network of distributors and dealers, and
actuarial gain (351) (75) (426) through a broad array of home centers, hardware retailers, and
Total recognized in other mass retailers, as well as over the Internet.
comprehensive (income) loss $(1,396) $ 715 $ (681) The Other segment consists of the company’s distribution seg-
Total recognized in net periodic ment and corporate activities and elimination of intersegment reve-
benefit cost and other nues and expenses. Corporate activities include general corporate
comprehensive (income) loss $(1,621) $1,266 $ (355)
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