AVON PRODUCTS INC - FORM 8-K - EX-99.2 - EXHIBIT - May 5, 2016

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AVON PRODUCTS, INC.
SEGMENT PERFORMANCE METRICS
(Unaudited)
(In millions)
THREE MONTHS ENDED MARCH 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REGIONAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
Active Representatives
 
Average Order C$
 
Units Sold
 
Price/ Mix C$
 
US$
 
C$
 
 
 
 
Revenue & Drivers
 
 
% var. vs 1Q14
 
% var. vs 1Q14
 
% var. vs 1Q14
 
% var. vs 1Q14
 
% var. vs 1Q14
 
% var. vs 1Q14
Europe, Middle East & Africa
$
532.2

 
(16)%
 
9%
 
8%
 
1%
 
9%
 
—%
South Latin America
590.9

 
(11)
 
3
 
(2)
 
5
 
—
 
3
North Latin America
229.3

 
(10)
 
(2)
 
2
 
(4)
 
(4)
 
2
Asia Pacific
164.1

 
(1)
 
2
 
(2)
 
4
 
(2)
 
4
Total from Reportable Segments
1,516.5

 
(12)
 
4
 
2
 
2
 
2
 
2
Other operating segments and business activities
35.6

 
(79)
 
26
 
(23)
 
49
 
(41)
 
67
Total
$
1,552.1

 
(18)%
 
5%
 
1%
 
4%
 
1%
 
4%

Operating Profit/Margin
 
2015 Operating Profit (Loss) US$
 
2015 Operating Margin US$
 
Change in US$ vs 2014
 
Change in C$ vs 2014
Europe, Middle East & Africa
 
$
63.9

 
12.0
 %
 
(310) bps
 
(250) bps
South Latin America
 
67.7

 
11.5

 
(30)
 
(20)
North Latin America
 
28.6

 
12.5

 
(90)
 
(70)
Asia Pacific
 
22.2

 
13.5

 
450
 
440
Total from Reportable Segments
 
182.4

 
12.0

 
(100)
 
(50)
Other operating segments and business activities
 
5.1

 
14.3

 
450
 
1200
Unallocated Global Expenses
 
(86.8
)
 
—

 
—
 
—
Adjusted Total
 
$
100.7

 
6.5
 %
 
(50) bps
 
160 bps
CTI restructuring initiatives
 
(27.2
)
 
 
 
 
 
 
Venezuelan special items
 
(106.4
)
 
 
 
 
 
 
GAAP Total
 
$
(32.9
)
 
(2.1
)%
 
40 bps
 
 
 
 
 
 
 
 
 
 
 




AVON PRODUCTS, INC.
SEGMENT PERFORMANCE METRICS
(Unaudited)
(In millions)
THREE MONTHS ENDED JUNE 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REGIONAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
Active Representatives
 
Average Order C$
 
Units Sold
 
Price/ Mix C$
 
US$
 
C$
 
 
 
 
Revenue & Drivers
 
 
% var. vs 2Q14
 
% var. vs 2Q14
 
% var. vs 2Q14
 
% var. vs 2Q14
 
% var. vs 2Q14
 
% var. vs 2Q14
Europe, Middle East & Africa
$
530.1

 
(17)%
 
5%
 
6%
 
(1)%
 
3%
 
2%
South Latin America
607.5

 
(22)
 
(1)
 
(3)
 
2
 
(7)
 
6
North Latin America
236.0

 
(9)
 
3
 
2
 
1
 
3
 
—
Asia Pacific
158.0

 
(8)
 
(4)
 
(5)
 
1
 
(7)
 
3
Total from Reportable Segments
1,531.6

 
(17)
 
1
 
—
 
1
 
(2)
 
3
Other operating segments and business activities
33.3

 
(16)
 
67
 
(13)
 
80
 
(28)
 
95
Total
$
1,564.9

 
(17)%
 
3%
 
(1)%
 
4%
 
(3)%
 
6%

Operating Profit/Margin
 
2015 Operating Profit (Loss) US$
 
2015 Operating Margin US$
 
Change in US$ vs 2014
 
Change in C$ vs 2014
Europe, Middle East & Africa
 
$
73.2

 
13.8
%
 
(460) bps
 
(440) bps
South Latin America
 
69.2

 
11.4

 
(430)
 
(430)
North Latin America
 
31.6

 
13.4

 
40
 
70
Asia Pacific
 
16.5

 
10.4

 
580
 
600
Total from Reportable Segments
 
190.5

 
12.4

 
(290)
 
(250)
Other operating segments and business activities
 
4.9

 
14.7

 
1500
 
1860
Unallocated Global Expenses
 
(96.6
)
 
—

 
—
 
—
Adjusted Total
 
$
98.8

 
6.3
%
 
(310) bps
 
(110) bps
CTI restructuring initiatives
 
(2.9
)
 
 
 
 
 
 
Venezuelan special items
 
(6.2
)
 
 
 
 
 
 
GAAP Total
 
$
89.7

 
5.7
%
 
(20) bps
 
 
 
 
 
 
 
 
 
 
 




AVON PRODUCTS, INC.
SEGMENT PERFORMANCE METRICS
(Unaudited)
(In millions)
THREE MONTHS ENDED SEPTEMBER 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REGIONAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
Active Representatives
 
Average Order C$
 
Units Sold
 
Price/ Mix C$
 
US$
 
C$
 
 
 
 
Revenue & Drivers
 
 
% var. vs 3Q14
 
% var. vs 3Q14
 
% var. vs 3Q14
 
% var. vs 3Q14
 
% var. vs 3Q14
 
% var. vs 3Q14
Europe, Middle East & Africa
$
497.5

 
(17)%
 
6%
 
5%
 
1%
 
1%
 
5%
South Latin America
570.8

 
(29)
 
(3)
 
—
 
(3)
 
(5)
 
2
North Latin America
209.7

 
(13)
 
2
 
(2)
 
4
 
(4)
 
6
Asia Pacific
145.8

 
(16)
 
(8)
 
(2)
 
(6)
 
(10)
 
2
Total from Reportable Segments
1,423.8

 
(22)
 
—
 
1
 
(1)
 
(4)
 
4
Other operating segments and business activities
12.4

 
(69)
 
12
 
(26)
 
38
 
(48)
 
60
Total
$
1,436.2

 
(23)%
 
1%
 
—%
 
1%
 
(4)%
 
5%

Operating Profit/Margin
 
2015 Operating Profit (Loss) US$
 
2015 Operating Margin US$
 
Change in US$ vs 2014
 
Change in C$ vs 2014
Europe, Middle East & Africa
 
$
69.5

 
14.0
%
 
20 bps
 
50 bps
South Latin America
 
52.8

 
9.3

 
(1060)
 
(1030)
North Latin America
 
17.9

 
8.5

 
(170)
 
(130)
Asia Pacific
 
15.5

 
10.6

 
140
 
160
Total from Reportable Segments
 
155.7

 
10.9

 
(470)
 
(430)
Other operating segments and business activities
 
3.3

 
25.6

 
2120
 
2320
Unallocated Global Expenses
 
(103.7
)
 
—

 
—
 
—
Adjusted Total
 
$
55.3

 
3.9
%
 
(690) bps
 
(470) bps
CTI restructuring initiatives
 
1.9

 
 
 
 
 
 
Venezuelan special items
 
(5.7
)
 
 
 
 
 
 
Pension Settlement Agreement
 
(6.2
)
 
 
 
 
 
 
GAAP Total
 
$
45.3

 
3.2
%
 
(730) bps
 
 
 
 
 
 
 
 
 
 
 





AVON PRODUCTS, INC.
SEGMENT PERFORMANCE METRICS
(Unaudited)
(In millions)
THREE MONTHS ENDED DECEMBER 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REGIONAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
Active Representatives
 
Average Order C$
 
Units Sold
 
Price/ Mix C$
 
US$
 
C$
 
 
 
 
Revenue & Drivers
 
 
% var. vs 4Q14
 
% var. vs 4Q14
 
% var. vs 4Q14
 
% var. vs 4Q14
 
% var. vs 4Q14
 
% var. vs 4Q14
Europe, Middle East & Africa
$
669.4

 
(10)%
 
10%
 
8%
 
2%
 
7%
 
3%
South Latin America
540.4

 
(30)
 
(5)
 
1
 
(6)
 
(7)
 
2
North Latin America
226.0

 
(9)
 
5
 
1
 
4
 
1
 
4
Asia Pacific
158.1

 
(16)
 
(8)
 
—
 
(8)
 
(7)
 
(1)
Total from Reportable Segments
1,593.9

 
(19)
 
1
 
3
 
(2)
 
(1)
 
2
Other operating segments and business activities
13.4

 
(75)
 
(3)
 
(39)
 
36
 
(64)
 
61
Total
$
1,607.3

 
(20)%
 
1%
 
2%
 
(1)%
 
(2)%
 
3%

Operating Profit/Margin
 
2015 Operating Profit (Loss) US$
 
2015 Operating Margin US$
 
Change in US$ vs 2014
 
Change in C$ vs 2014
Europe, Middle East & Africa
 
$
104.6

 
15.6
%
 
(270) bps
 
(270) bps
South Latin America
 
49.2

 
9.1

 
(430)
 
(440)
North Latin America
 
29.1

 
12.9

 
(150)
 
(130)
Asia Pacific
 
14.4

 
9.1

 
(160)
 
(120)
Total from Reportable Segments
 
197.3

 
12.4

 
(270)
 
(280)
Other operating segments and business activities
 
3.7

 
27.8

 
1630
 
1510
Unallocated Global Expenses
 
(104.2
)
 
—

 
—
 
—
Adjusted Total
 
$
96.8

 
6.0
%
 
(420) bps
 
(260) bps
CTI restructuring initiatives
 
(20.9
)
 
 
 
 
 
 
Venezuelan special items
 
(1.9
)
 
 
 
 
 
 
Pension Settlement Agreement
 
(1.1
)
 
 
 
 
 
 
Asset impairment and other charges
 
(6.9
)
 
 
 
 
 
 
Other items
 
(3.1
)
 
 
 
 
 
 
GAAP Total
 
$
62.9

 
3.9
%
 
(480) bps
 
 
 
 
 
 
 
 
 
 
 




AVON PRODUCTS, INC.
SEGMENT PERFORMANCE METRICS
(Unaudited)
(In millions)
TWELVE MONTHS ENDED DECEMBER 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
REGIONAL RESULTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
Active Representatives
 
Average Order C$
 
Units Sold
 
Price/ Mix C$
 
US$
 
C$
 
 
 
 
Revenue & Drivers
 
 
% var. vs FY14
 
% var. vs FY14
 
% var. vs FY14
 
% var. vs FY14
 
% var. vs FY14
 
% var. vs FY14
Europe, Middle East & Africa
$
2,229.2

 
(15)%
 
8%
 
7%
 
1%
 
5%
 
3%
South Latin America
2,309.6

 
(24)
 
(2)
 
(1)
 
(1)
 
(5)
 
3
North Latin America
901.0

 
(10)
 
2
 
1
 
1
 
(1)
 
3
Asia Pacific
626.0

 
(11)
 
(5)
 
(2)
 
(3)
 
(7)
 
2
Total from Reportable Segments
6,065.8

 
(17)
 
2
 
1
 
1
 
(1)
 
3
Other operating segments and business activities
94.7

 
(68)
 
23
 
(25)
 
48
 
(44)
 
67
Total
$
6,160.5

 
(19)%
 
2%
 
1%
 
1%
 
(2)%
 
4%

Operating Profit/Margin
 
2015 Operating Profit (Loss) US$
 
2015 Operating Margin US$
 
Change in US$ vs 2014
 
Change in C$ vs 2014
Europe, Middle East & Africa
 
$
311.2

 
14.0
%
 
(250) bps
 
(230) bps
South Latin America
 
238.9

 
10.3

 
(510)
 
(500)
North Latin America
 
107.2

 
11.9

 
(90)
 
(60)
Asia Pacific
 
68.6

 
11.0

 
250
 
260
Total from Reportable Segments
 
725.9

 
12.0

 
(280)
 
(250)
Other operating segments and business activities
 
17.0

 
18.0

 
970
 
1620
Unallocated Global Expenses
 
(391.3
)
 
—

 
—
 
—
Adjusted Total
 
$
351.6

 
5.7
%
 
(360) bps
 
(180) bps
CTI restructuring initiatives
 
(49.1
)
 
 
 
 
 
 
Venezuelan special items
 
(120.2
)
 
 
 
 
 
 
Pension Settlement Agreement
 
(7.3
)
 
 
 
 
 
 
Asset impairment and other charges
 
(6.9
)
 
 
 
 
 
 
Other items
 
(3.1
)
 
 
 
 
 
 
GAAP Total
 
$
165.0

 
2.7
%
 
(300) bps
 
 
 
 
 
 
 
 
 
 
 



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