Segment Reporting

3 Months Ended

Oct. 31, 2011

Segment Reporting [Abstract]

Segment Reporting

Note F – Segment Reporting

          The Company has two reportable segments, Engine Products and Industrial Products, that have been identified based on the Company's internal organization structure, management of operations, and performance evaluation. Corporate and Unallocated includes corporate expenses determined to be non-allocable to the segments and interest income and expense. 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 operating profit and other financial information shown below. Segment detail is summarized as follows (thousands of dollars):

	Engine Products		Industrial Products		Corporate & Unallocated			Total Company
Three Months Ended October 31, 2011:
Net sales	$	393,725	$	214,570	$	—		$	608,295
Earnings before income taxes		59,878		34,299		(2,160	)		92,017
Assets		882,967		521,984		341,220			1,746,171
Three Months Ended October 31, 2010:
Net sales	$	333,769	$	203,140	$	—		$	536,909
Earnings before income taxes		48,451		30,035		(6,529	)		71,957
Assets		750,951		461,321		378,214			1,590,486

          The above table includes $0.7 million of restructuring expenses in the Industrial Products segment for the three months ended October 31, 2010. 

          There were no Customers over 10 percent of net sales for the three months ended October 31, 2011 and 2010. There were no Customers over 10 percent of gross accounts receivable as of October 31, 2011 and 2010.