SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2012

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, we operate through three segments: Flow Control, Motion Control, and Metal Treatment.

		(In thousands)
		Three Months Ended
		March 31,
		2012		2011
Net sales
Flow Control	$	266,791	$	239,142
Motion Control		168,145		160,270
Metal Treatment		70,089		54,342
Less: Intersegment revenues		(3,364)		(823)
Total consolidated	$	501,661	$	452,931
Operating income (expense)
Flow Control	$	18,527	$	18,632
Motion Control		12,929		16,286
Metal Treatment		9,856		7,565
Corporate and eliminations (1)		(5,753)		(3,292)
Total consolidated	$	35,559	$	39,191

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

Operating income by reportable segment and the reconciliation to income from continuing operations before income taxes are as follows:

		(In thousands)
		Three Months Ended
		March 31,
		2012		2011
Total operating income	$	35,559	$	39,191
Interest expense		(6,482)		(5,121)
Other income, net		102		52
Earnings from continuing operations before income taxes	$	29,179	$	34,122

		(In thousands)
	March 31,		December 31,
		2012		2011
Identifiable assets
Flow Control	$	1,258,981	$	1,257,142
Motion Control		1,031,897		1,034,225
Metal Treatment		279,688		286,084
Corporate and Other		163,159		75,386
Total consolidated	$	2,733,725	$	2,652,837