Segment Results

9 Months Ended

Sep. 30, 2012

Segment Results

Segment Results

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has five reportable segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling and Controls. Furthermore, Corporate consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs. Assets of the reportable segments exclude general corporate assets, which principally consist of cash, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets.

Financial information by reportable segment is set forth below:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2012			2011			2012			2011
Net sales
Aerospace & Electronics	$	171,368		$	172,216		$	525,127		$	505,690
Engineered Materials	56,956			53,101			169,603			175,034
Merchandising Systems	92,489			98,815			277,741			287,703
Fluid Handling	303,080			299,118			903,617			845,929
Controls	22,088			23,838			73,192			66,209
Total	$	645,981		$	647,088		$	1,949,280		$	1,880,565
Operating profit (loss) from continuing operations
Aerospace & Electronics	$	39,833		$	35,640		$	116,834		$	106,839
Engineered Materials	7,226			5,919			21,178			25,192
Merchandising Systems	9,496			10,845			23,324			22,632
Fluid Handling	42,892			39,870			108,920			111,474
Controls	2,844			3,789			10,513			8,892
Corporate	(15,707		)	(15,773		)	(46,511		)	(44,453		)
Total	86,584			80,290			234,258			230,576
Interest income	443			442			1,292			1,121
Interest expense	(6,618		)	(6,474		)	(20,114		)	(19,525		)
Miscellaneous - net	(6		)	(73		)	(704		)	3,262			*
Income from continuing operations before income taxes	$	80,403		$	74,185		$	214,732		$	215,434

*  Primarily related to the sale of a building and the divestiture of a small product line in the three months ended March 31, 2011.

	As of
	September 30,		December 31,
(in thousands)	2012		2011
Assets
Aerospace & Electronics	$	509,210	$	514,240
Engineered Materials	244,257		245,350
Merchandising Systems	431,750		408,857
Fluid Handling	971,884		909,265
Controls	39,813		64,162
Corporate	675,598		701,657
Total	$	2,872,512	$	2,843,531

	As of
	September 30,		December 31,
(in thousands)	2012		2011
Goodwill
Aerospace & Electronics	$	203,579	$	203,516
Engineered Materials	171,526		171,489
Merchandising Systems	202,161		197,719
Fluid Handling	220,135		220,111
Controls	15,052		27,990
Total	$	812,453	$	820,824