Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 19

SEGMENT INFORMATION

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. Our three reportable segments are referred to as: Defense & Information Solutions (Defense segment), Fluid Technology (Fluid segment), and Motion & Flow Control (Motion & Flow segment). Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, such as the planned spinoff transaction, and asbestos and environmental matters, that are managed at a corporate level and are not included in the business segments in evaluating performance or allocating resources. Assets of the business segments exclude general corporate assets, which principally consist of cash, deferred tax assets, asbestos-related receivables, certain property, plant and equipment, and certain other assets.

Defense – The businesses in this segment are those that directly serve the military and government agencies with products and services. Products include tactical communications equipment, electronic warfare and force protection equipment, radar systems, integrated structures equipment and imaging and sensor equipment, which include night vision goggles, as well as weather, location, surveillance and other related technologies. Services include air traffic management, information and cyber solutions, large-scale systems engineering and integration and defense technologies. The U.S. Government accounted for approximately 88% of Defense segment revenue during the three and nine month periods ended September 30, 2011 and 2010.

Fluid – Our Fluid segment is a provider of water transport and wastewater treatment systems, pumps and related technologies, and other water and fluid control products with residential, commercial, and industrial applications.

Motion & Flow – Our Motion & Flow segment comprises a group of businesses providing products and services for the areas of transportation, defense, aerospace, industrial, computer, telecommunications, medical, marine, and food & beverage. The Motion & Flow businesses primarily serve the high end of their markets, with highly engineered products, high brand recognition, a focus on new product development and operational excellence.

Three Months Ended September 30	2011 – Revenue								2010 – Revenue
	Product			Service		Total			Product			Service		Total
Defense	$	744		$	785	$	1,529		$	810		$	556	$	1,366
Fluid		1,034			35		1,069			884			33		917
Motion & Flow		384			2		386			361			2		363
Eliminations		(3	)		—		(3	)		(3	)		—		(3	)
Total	$	2,159		$	822	$	2,981		$	2,052		$	591	$	2,643

Nine Months Ended September 30	2011 – Revenue								2010 – Revenue
	Product			Service		Total			Product			Service		Total
Defense	$	2,109		$	2,265	$	4,374		$	2,538		$	1,724	$	4,262
Fluid		3,035			134		3,169			2,498			96		2,594
Motion & Flow		1,224			6		1,230			1,106			7		1,113
Eliminations		(8	)		—		(8	)		(9	)		—		(9	)
Total	$	6,360		$	2,405	$	8,765		$	6,133		$	1,827	$	7,960

	Operating Income												Operating Margin
For the Periods Ended September 30	3M 2011			3M 2010			9M 2011			9M 2010			3M 2011			3M 2010			9M 2011			9M 2010
Defense	$	178		$	178		$	456		$	513			11.6	%		13.0	%		10.4	%		12.0	%
Fluid		144			115			430			336			13.5	%		12.5	%		13.6	%		13.0	%
Motion & Flow		49			46			170			144			12.7	%		12.7	%		13.8	%		12.9	%
Corporate and Other		(219	)		(371	)		(456	)		(456	)		—			—			—			—
Total	$	152		$	(32	)	$	600		$	537			5.1	%		(1.2	)%		6.8	%		6.7	%

					Plant, Property &				Capital				Depreciation &
	Total Assets				Equipment, Net				Expenditures				Amortization
Nine Months Ended September 30	2011		2010(a)		2011		2010(a)		2011		2010		2011		2010
Defense	$	4,415	$	4,149	$	459	$	434	$	55	$	73	$	100	$	99
Fluid		4,763		4,055		502		518		83		50		109		69
Motion & Flow		1,490		1,372		227		230		31		26		42		39
Corporate and Other		4,420		2,862		26		23		17		25		6		7
Total	$	15,088	$	12,438	$	1,214	$	1,205	$	186	$	174	$	257	$	214

^(a) Amounts reflect balances as of December 31, 2010.

The operations from one of our subsidiaries reported within the Fluid segment as of December 31, 2010 was reclassified during the first quarter of 2011 and is now reported within the Motion & Flow segment. Prior periods presented in the tables above have been retrospectively adjusted to reflect this change.