Segment Reporting

9 Months Ended

Oct. 31, 2016

Segment Reporting

Segment Reporting

Note 12.Segment Reporting

The Company is organized based on the products and services it offers. The Company’s reportable segments which are also its operating segments, are comprised of ASG and ESG. The segments regularly report their results of operations and make requests for capital expenditures and acquisition funding to the Company’s chief operational decision-making group (“CODM”). This group is comprised of the Chairman and Chief Executive Officer and the President and Chief Operating Officer. As a result, the CODM has determined the Company has two reportable segments.

The following table presents revenues and operating earnings (losses) by reportable segment:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	OCTOBER 31,		OCTOBER 31,		OCTOBER 31,		OCTOBER 31,
Revenues	2016		2015		2016		2015
Aerospace Solutions Group	$	348.8	$	306.7	$	1,039.0	$	1,006.4
Energy Services Group		40.2		58.3		109.6		202.8
Total revenues		389.0		365.0		1,148.6		1,209.2
Operating earnings (loss) (1)
Aerospace Solutions Group		56.5		47.8		174.9		167.7
Energy Services Group		(17.9)		(667.1)		(72.2)		(706.7)
Total operating earnings (loss)		38.6		(619.3)		102.7		(539.0)
Interest expense		18.8		19.0		56.8		58.2
Earnings (loss) before income taxes	$	19.8	$	(638.3)	$	45.9	$	(597.2)

(1) Operating earnings (loss) include an allocation of employee benefits and general and administrative costs based on the proportion of each segment’s number of employees for the three and nine months ended October 31, 2016 and revenues for the three and nine months ended October 31, 2015.

The following table presents capital expenditures by reportable segment:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	OCTOBER 31,		OCTOBER 31,		OCTOBER 31,		OCTOBER 31,
	2016		2015		2016		2015
Aerospace Solutions Group	$	4.1	$	11.9	$	10.4	$	23.4
Energy Services Group		4.5		24.4		23.5		83.0
	$	8.6	$	36.3	$	33.9	$	106.4

Corporate capital expenditures have been allocated to the above segments based on each segment’s percentage of total capital expenditures.

The following table presents goodwill by reportable segment:

	October 31,		January 31,
	2016		2016
Aerospace Solutions Group	$	993.3	$	952.4
Energy Services Group		-		2.5
	$	993.3	$	954.9

The following table presents total assets by reportable segment:

	October 31,		January 31,
	2016		2016
Aerospace Solutions Group	$	3,496.0	$	3,422.8
Energy Services Group		232.6		268.2
	$	3,728.6	$	3,691.0

Corporate assets (primarily cash and cash equivalents) of $411.9 and $559.5 at October 31, 2016 and January 31, 2016, respectively, have been allocated to the above segments based on each segment’s percentage of total assets.