Proctor and Gamble 2015 Annual Report Download - page 72

The Procter & Gamble Company 70
Amounts in millions of dollars except per share amounts or as otherwise specified.
Gloal Segment Results Net Sales
Earnings
Loss
from
Continuing
Oerations
Before
Income
Taxes
Net Earnings
Loss from
Continuing
Oerations
Dereciation
and
Amortiation
Total
Assets
Caital
Exenditures
BEAUTY, HAIR AND PERSONAL
CARE 2015  1,15  ,9  2,54    ,429  524
2014 19,507 3,530 2,739 394 8,576 502
2013 19,956 3,215 2,474 375 8,396 541
GROOMING 2015 ,441 2,4 1, 540 2,090 2
2014 8,009 2,589 1,954 576 23,767 369
2013 8,038 2,458 1,837 603 23,971 378
HEALTH CARE 2015 ,1 1,00 1,1 202 5,212 21
2014 7,798 1,597 1,083 199 5,879 253
2013 7,684 1,582 1,093 191 5,933 248
FABRIC CARE AND HOME CARE 2015 22,2 4,01 2,5 54 ,155 9
2014 23,509 4,266 2,771 539 7,938 1,057
2013 23,395 4,379 2,835 544 7,658 985
BABY, FEMININE AND FAMILY
CARE 2015 20,24 4,1 2,9 924 10,109 1,
2014 20,950 4,310 2,940 908 10,946 1,317
2013 20,479 4,507 3,047 837 10,926 1,560
CORPORATE (1) 2015 4 ,952,11 544 ,500 299
2014 737 (1,955)(169) 525 87,160 350
2013 564 (1,962)(333) 432 82,379 296
TOTAL COMPANY 2015  ,29  11,4  ,90  ,14  129,495  ,
2014 80,510 14,337 11,318 3,141 144,266 3,848
2013 80,116 14,179 10,953 2,982 139,263 4,008
(1) The Corporate reportable segment includes depreciation and amortization, total assets and capital expenditures of the Pet Care business
prior to its divestiture during fiscal year 2015 and of the atteries business.
 
DISCONTINUED OPERATIONS
During the quarter ended December 31, 2014, the Company
divested its interest in a China-based battery joint venture,
resulting in proceeds of approximately $560. In November
2014, the Company reached an agreement to divest the
remainder of its atteries business to erkshire Hathaway
(H) via a split transaction, in which the Company will
exchange a recapitalized Duracell Company for H's shares
of P&G stock. As of the date the transaction was signed, H's
shares were valued at approximately $4.7 billion. As of June
30, 2015, this value has declined to approximately $4.1 billion.
The Company expects to contribute approximately $1.8 billion
in cash to the Duracell Company in the pre-transaction
recapitalization, subject to final working capital adjustments.
The Company recorded goodwill and indefinite-lived asset
impairment charges during the fiscal year ended June 30, 2015
which reflected the total estimated proceeds from the
divestiture transactions (see Note 2). Since the number of
shares of P&G stock the Company will receive in the atteries
transaction is fixed, the total value to be received in the
transaction will be based on the Company's share price as of
the closing date, which is expected to occur in the beginning
of calendar 2016. Accordingly, any further increase or decrease
in the Company's share price before the closing date will
ultimately be reflected in earnings from discontinued
operations as a gain or loss.
The atteries business had historically been part of the
Company's Fabric Care and Home Care reportable segment.
In accordance with applicable accounting guidance for the
disposal of long-lived assets, the results of the atteries
business are presented as discontinued operations and, as such,
have been excluded from both continuing operations and
segment results for all periods presented. Additionally, the
atteries balance sheet positions as of June 30, 2015 are
presented as Assets and Liabilities held for sale in the
Consolidated alance Sheets.
On July 31, 2014, the Company completed the divestiture of
its Pet Care operations in North America, Latin America, and
other selected countries to Mars, Incorporated (Mars) for $2.9