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Industry Segment Information
 3 Months Ended
Jan. 31, 2013
Segment Reporting [Abstract]  
Industry Segment Information
Industry Segment Information
Quanex has two reportable segments: Engineered Products and Aluminum Sheet Products. The Engineered Products segment produces systems, finished products and components serving the OEM residential window and door industry, while the Aluminum Sheet Products segment produces mill finished and coated aluminum sheet serving the broader building and construction markets. The primary market drivers of both segments are residential repair and remodel activity (R&R) and new home construction.
The Company measures its inventory at the segment level on a FIFO or weighted-average basis; however, at the consolidated Company level a portion of the inventory is measured on a LIFO basis. The LIFO reserve is computed on a consolidated basis as a single pool and is thus treated as a corporate expense. See Note 5 to the financial statements for more information. LIFO inventory adjustments along with corporate office charges and intersegment eliminations are reported as Corporate, Intersegment Eliminations or Other. The Company accounts for intersegment sales and transfers as though the sales or transfers were to third parties, that is, at current market prices. Intersegment sales, related cost of sales, and intercompany profit are eliminated in consolidation at Corporate. The most significant components of Corporate assets generally include cash and equivalents and property, plant and equipment, which are partially offset by the Company’s consolidated LIFO inventory reserve.
 
 
Three Months Ended
 
January 31,
 
2013
 
2012
 
(In thousands)
Net Sales:
 
 
 
Engineered Products
$
106,119

 
$
99,393

Aluminum Sheet Products
84,603

 
65,700

Intersegment Eliminations
(5,009
)
 
(3,514
)
Consolidated
$
185,713

 
$
161,579

Operating Income (Loss):
 
 
 
Engineered Products
$
2,833

 
$
1,803

Aluminum Sheet Products
(4,229
)
 
(5,518
)
Corporate & Other
(12,289
)
 
(7,589
)
Consolidated
$
(13,685
)
 
$
(11,304
)
 
 
January 31,
2013
 
October 31,
2012
 
(In thousands)
Identifiable Assets:
 
 
 
Engineered Products
$
397,776

 
$
380,551

Aluminum Sheet Products
149,168

 
139,733

Corporate, Intersegment Eliminations & Other
15,356

 
69,254

Consolidated
$
562,300

 
$
589,538

Goodwill:
 
 
 
Engineered Products
$
71,509

 
$
68,331

Consolidated
$
71,509

 
$
68,331