Black & Decker 2012 Annual Report Download - page 106

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92
BUSINESS SEGMENTS
(Millions of Dollars) 2012
2011
2010
Net Sales
CDIY………………………………………………………………...
$
5,193.7
$
5,007.6
$
4,147.6
Security……………………………………………………………...
2,428.9
1,926.5
1,457.6
Industrial…………………………………………………………….
2,567.9
2,501.4
1,891.7
Consolidated………………………………………………………...
$
10,190.5
$
9,435.5
$
7,496.9
Segment Profit
CDIY………………………………………………………………..
$
720.7
$
634.8
$
422.6
Security……………………………………………………………...
305.6
297.1
252.9
Industrial…………………………………………………………….
410.2
400.7
255.5
Segment Profit………………………………………………………
1,436.5
1,332.6
931.0
Corporate overhead………………………………………………….
(252.3
)
(245.3)
(244.7)
Other-net…………………………………………………………….
(301.9
)
(255.7)
(184.9)
Restructuring charges and asset impairments……………………….
(175.1
)
(69.3)
(231.7)
Loss on debt extinguishment………………………………………..
(45.5
)
—
—
Interest income………………………………………………………
10.1
26.5
8.7
Interest expense……………………………………………………..
(144.2
)
(140.4)
(109.8)
Earnings from continuing operations before income taxes…………
$
527.6
$
648.4
$
168.6
Capital and Software Expenditures
CDIY………………………………………………………………..
$
199.0
$
160.7
$
97.4
Security……………………………………………………………...
65.3
49.3
27.8
Industrial…………………………………………………………….
109.9
73.4
46.2
Discontinued operations…………………………………………….
11.8
18.7
14.1
Consolidated………………………………………………………...
$
386.0
$
302.1
$
185.5
Depreciation and Amortization
CDIY………………………………………………………………..
$
139.7
$
132.2
$
114.4
Security……………………………………………………………...
150.2
130.9
116.2
Industrial…………………………………………………………….
116.7
106.3
75.2
Discontinued operations…………………………………………….
38.7
40.7
42.9
Consolidated………………………………………………………...
$
445.3
$
410.1
$
348.7
Segment
Assets
CDIY………………………………………………………………..
$
7,439.7
$
7,474.4
$
7,392.6
Security……………………………………………………………...
4,728.9
4,152.1
2,327.2
Industrial…………………………………………………………….
3,456.9
3,282.9
3,128.5
15,625.5
14,909.4
12,848.3
Discontinued operations…………………………………………….
133.4
1,050.2
1,201.4
Corporate assets……………………………………………………..
85.1
(10.6)
1,089.7
Consolidated………………………………………………………...
$
15,844.0
$
15,949.0
$
15,139.4
Corporate assets primarily consist of cash, deferred taxes, and property, plant and equipment. The decrease in 2011 corporate
assets from 2010 was primarily due to the cash spent to fund the acquisition of Niscayah.
Sales to the Home Depot were 14%, 13% and 14% of the CDIY segment net sales in 2012, 2011 and 2010, respectively. Sales
to Lowes were 18%, 17% and 14% of the CDIY segment net sales in 2012, 2011 and 2010, respectively.
In 2012 the Company recorded $168 million of facility closure-related and other charges associated with the merger and other
acquisitions across all segments, impacting segment profit by $42 million in CDIY, $41 million in Security, and $8 million in
Industrial for the year ended December 29, 2012, with the remainder residing in corporate overhead.
In 2011 the Company recorded $120 million of facility closure-related and other charges associated with the merger and other
acquisitions across all segments, impacting segment profit by $20 million in CDIY, $15 million in Security, and $9 million in
Industrial for the year ended December 31, 2011, with the remainder residing in corporate overhead.