Segment Results

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

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 four reportable segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. 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. Furthermore, Corporate consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in millions)	2015			2014			2015			2014
Net sales
Fluid Handling	$	291.8		$	324.5		$	567.3		$	635.4
Payment & Merchandising Technologies	186.5			184.6			358.4			353.7
Aerospace & Electronics	167.1			177.6			328.7			346.5
Engineered Materials	65.8			63.4			135.5			131.4
Total	$	711.2		$	750.1		$	1,390.0		$	1,466.9
Operating profit (loss)
Fluid Handling	$	32.5		$	52.2		$	66.8		$	96.7
Payment & Merchandising Technologies	26.1			18.6			47.3			26.1
Aerospace & Electronics	31.7			35.9			61.7			68.4
Engineered Materials	12.2			9.8			26.4			20.6
Corporate a	(12.3		)	(18.9		)	(26.1		)	(32.8		)
Total	90.2			97.6			176.2			179.0
Interest income	0.5			0.4			1.0			0.8
Interest expense	(9.5		)	(9.8		)	(19.4		)	(19.6		)
Miscellaneous - net	0.4			(1.5		)	—			(1.7		)
Income before income taxes	$	81.5		$	86.7		$	157.8		$	158.4

^a Includes a $6.5 million charge related to the settlement of an environmental lawsuit recorded in the three and six months ended June 30, 2014

	As of
	June 30,		December 31,
(in millions)	2015		2014
Assets
Fluid Handling	$	917.9	$	963.2
Payment & Merchandising Technologies	1,223.1		1,210.1
Aerospace & Electronics	525.9		512.1
Engineered Materials	235.1		229.1
Corporate	526.1		536.3
Total	$	3,428.1	$	3,450.8

	As of
	June 30,		December 31,
(in millions)	2015		2014
Goodwill
Fluid Handling	$	222.4	$	227.3
Payment & Merchandising Technologies	586.8		589.9
Aerospace & Electronics	202.7		202.7
Engineered Materials	171.5		171.5
Total	$	1,183.4	$	1,191.3