SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

SEGMENT INFORMATION

12.       SEGMENT INFORMATION

The Corporation manages and evaluates its operations based on the products and services it offers and the different markets it serves. Based on this approach, the Corporation has three reportable segments: Flow Control, Motion Control, and Metal Treatment.

		(In thousands)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Net sales
Flow Control	$	265,249	$	249,255	$	771,005	$	741,842
Motion Control		178,668		162,719		515,831		470,455
Metal Treatment		74,158		54,437		209,478		163,266
Less: Intersegment revenues		(2,079)		(598)		(3,563)		(5,810)
Total consolidated	$	515,996	$	465,813	$	1,492,751	$	1,369,753
Operating income (expense)
Flow Control	$	24,836	$	26,030	$	70,000	$	67,554
Motion Control		18,896		21,730		53,986		54,026
Metal Treatment		12,398		5,639		32,862		18,136
Corporate and eliminations (1)		(5,984)		(5,313)		(13,330)		(17,118)
Total consolidated	$	50,146	$	48,086	$	143,518	$	122,598

(1) Corporate and eliminations includes pension expense, environmental remediation and administrative expenses, legal, foreign currency transactional gains and losses, and other expenses.

Adjustments to reconcile operating income to earnings before income taxes:
		(In thousands)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Total operating income	$	50,146	$	48,086	$	143,518	$	122,598
Interest expense		(5,033)		(5,815)		(15,121)		(17,182)
Other (expense) income, net		(35)		86		50		622
Earnings before income taxes	$	45,078	$	42,357	$	128,447	$	106,038

		(In thousands)
	September 30,		December 31,
		2011		2010
Identifiable assets
Flow Control	$	1,171,222	$	1,102,417
Motion Control		969,801		873,074
Metal Treatment		283,980		233,356
Corporate and other		26,389		33,171
Total consolidated	$	2,451,392	$	2,242,018