Graco 2012 Annual Report Download - page 101

Download and view the complete annual report

Please find page 101 of the 2012 Graco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

95
Geographic Area Information
(in millions) 2012 2011 2010
Net Sales (1) (5)
United States $ 4,004.5 $ 3,915.7 $ 3,870.3
Canada 358.8 376.3 351.0
Total North America 4,363.3 4,292.0 4,221.3
Europe, Middle East and Africa 718.4 815.3 800.5
Latin America 338.9 318.6 267.0
Asia Pacific 482.1 438.7 369.4
Total International 1,539.4 1,572.6 1,436.9
$ 5,902.7 $ 5,864.6 $ 5,658.2
Operating Income (Loss) (2) (6)
United States $ 472.1 $ 166.9 $ 471.9
Canada 75.2 81.2 79.1
Total North America 547.3 248.1 551.0
Europe, Middle East and Africa 7.8 16.6 10.0
Latin America 12.4 12.8 (1.3)
Asia Pacific 84.4 (20.3) 63.8
Total International 104.6 9.1 72.5
$ 651.9 $ 257.2 $ 623.5
(1) All intercompany transactions have been eliminated. Sales to Wal-Mart Stores, Inc. and subsidiaries amounted to 10.8%, 11.0% and 11.9% of consolidated
net sales in 2012, 2011 and 2010, respectively, substantially across all segments.
(2) Operating income (loss) by segment is net sales less cost of products sold and selling, general & administrative (“SG&A”) expenses. Operating income
by geographic area is net sales less cost of products sold, SG&A expenses, impairment charges and restructuring costs. Certain headquarters expenses
of an operational nature are allocated to business segments and geographic areas primarily on a net sales basis. Depreciation and amortization is allocated
to the segments on a percentage of sales basis, and the allocated depreciation and amortization is included in segment operating income.
(3) Corporate capital expenditures primarily relate to the SAP implementation.
(4) Corporate assets primarily include goodwill, capitalized software, cash and deferred tax assets.
(5) Geographic sales information is based on the region from which the products are shipped and invoiced. Long-lived assets by geography are not presented
because it is impracticable to do so.
(6) The following table summarizes the restructuring costs and impairment charges by region included in operating income (loss) above (in millions):
2012 2011 2010
Restructuring Costs
United States $(32.1) $ (29.3) $ (18.1)
Canada (0.8)(0.1)(7.9)
Total North America (32.9)(29.4)(26.0)
Europe, Middle East and Africa (19.5)(19.5)(30.4)
Latin America (2.7)(0.7)(12.9)
Asia Pacific (1.0)(0.5)(8.1)
Total International (23.2)(20.7)(51.4)
$(56.1) $ (50.1) $ (77.4)