Business Segment Information The Company's results of operations are reported in two business segments, consisting of the Process &amp; Motion Control platform and the Water Management platform. The Process &amp; Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where customers' reliability requirements and costs of failure or downtime are high. The Process &amp; Motion Control portfolio includes motion control products, shaft management products, aerospace components, and related value-added services. Products and services are marketed and sold globally under widely recognized brand names, including Rexnord  , Rex  , FlatTop  , Falk  , Link-Belt  and Cambridge  . Process &amp; Motion Control products and services are sold into a diverse group of attractive end markets, including food and beverage, aerospace, mining, petrochemical, energy and power generation, cement and aggregates, forest and wood products, agriculture, and general industrial and automation applications. The Water Management platform designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, and site works products for primarily nonresidential buildings and flow control products for water infrastructure markets. Products are marketed and sold under widely recognized brand names, including Zurn and Wilkins. The financial information of the Company's segments is regularly evaluated by the chief operating decision maker in determining resource allocation and assessing performance. Management evaluates the performance of each business segment based on its operating results. The same accounting policies are used throughout the organization (see Note 1 ). In fiscal 2019, the net assets of the Companys former VAG business included within the Water Management platform met the criteria to be classified as held for sale and, in accordance with the authoritative guidance, the operating results of the VAG business, which, as previously disclosed, was sold during the third quarter of fiscal 2019, are reported as discontinued operations in all periods presented. See Note 4 , Discontinued Operations, for further information. Business Segment Information: (in Millions) Three Months Ended Nine Months Ended December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 Net sales Process &amp; Motion Control $ 326.7 $ 292.5 $ 1,007.8 $ 880.6 Water Management (1) 158.3 144.2 505.6 453.1 Consolidated net sales 485.0 436.7 1,513.4 1,333.7 Income from operations Process &amp; Motion Control 53.4 47.9 159.7 131.0 Water Management (1) 33.1 28.5 110.9 96.0 Corporate (15.6 ) (12.0 ) (46.2 ) (37.3 ) Consolidated income from operations 70.9 64.4 224.4 189.7 Non-operating expense: Interest expense, net (16.8 ) (18.5 ) (54.1 ) (58.5 ) Gain (loss) on the extinguishment of debt 5.0 (11.9 ) 5.0 (11.9 ) Other income, net 1.6 0.9 3.3 2.8 Income before income taxes 60.7 34.9 178.6 122.1 (Provision) benefit for income taxes (9.1 ) 51.0 (40.8 ) 26.5 Equity method investment income 1.3  3.5  Net income from continuing operations 52.9 85.9 141.3 148.6 Loss from discontinued operations, net of tax (27.8 ) (4.3 ) (154.3 ) (10.7 ) Net income (loss) 25.1 81.6 (13.0 ) 137.9 Non-controlling interest loss (0.3 )  (0.1 )  Net income (loss) attributable to Rexnord 25.4 81.6 (12.9 ) 137.9 Dividends on preferred stock (5.8 ) (5.8 ) (17.4 ) (17.4 ) Net income (loss) attributable to Rexnord common stockholders $ 19.6 $ 75.8 $ (30.3 ) $ 120.5 Depreciation and amortization Process &amp; Motion Control $ 15.7 $ 13.0 $ 47.4 $ 40.4 Water Management (1) 6.2 6.2 18.6 17.6 Consolidated $ 21.9 $ 19.2 $ 66.0 $ 58.0 Capital expenditures Process &amp; Motion Control $ 6.8 $ 7.6 $ 20.1 $ 20.8 Water Management (1) 1.2 1.0 4.0 2.8 Consolidated $ 8.0 $ 8.6 $ 24.1 $ 23.6 ____________________ (1) Amounts reflect Water Management continuing operations.