Segment Reporting

9 Months Ended

Apr. 30, 2021

Segment Reporting, Measurement Disclosures [Abstract]

Segment Reporting

Segment Reporting

The Company has two reportable segments: Engine Products and Industrial Products. The Company determines its operating segments consistent with the manner in which it manages its operations and evaluates performance for internal review and decision-making. Corporate and unallocated includes corporate expenses determined to be non-allocable to the segments, such as interest expense and certain restructuring charges.

The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and sharing of assets. Therefore, the Company does not represent that these segments, if operated independently, would report the earnings before income taxes and other financial information shown below.

Segment details are as follows (in millions):

	Three Months Ended April 30,				Nine Months Ended April 30,
	2021		2020		2021		2020
Net sales
Engine Products segment	$	531.0	$	420.4	$	1,429.6	$	1,315.2
Industrial Products segment	234.0		209.3		651.2		649.2
Total Company	$	765.0	$	629.7	$	2,080.8	$	1,964.4
Earnings before income taxes
Engine Products segment	$	84.4	$	56.5	$	206.1	$	172.2
Industrial Products segment	37.6		34.7		90.9		98.8
Corporate and unallocated	(11.1)		(6.8)		(30.0)		(17.1)
Total Company	$	110.9	$	84.4	$	267.0	$	253.9

Net sales by product group are as follows (in millions):

	Three Months Ended April 30,				Nine Months Ended April 30,
	2021		2020		2021		2020
Engine Products segment
Off-Road	$	95.7	$	63.5	$	238.4	$	199.6
On-Road	39.7		25.1		105.0		99.5
Aftermarket	371.4		301.9		1,018.7		929.4
Aerospace and Defense	24.2		29.9		67.5		86.7
Total Engine Products segment	531.0		420.4		1,429.6		1,315.2
Industrial Products segment
Industrial Filtration Solutions	163.7		137.4		449.3		441.4
Gas Turbine Systems	25.5		29.2		71.9		74.2
Special Applications	44.8		42.7		130.0		133.6
Total Industrial Products segment	234.0		209.3		651.2		649.2
Total Company	$	765.0	$	629.7	$	2,080.8	$	1,964.4

Concentrations

There were no customers that accounted for over 10% of net sales for the three and nine months ended April 30, 2021 or 2020. There were no customers that accounted for over 10% of gross accounts receivable as of April 30, 2021 or as of July 31, 2020.