Segment Reporting

6 Months Ended

Jan. 31, 2013

Segment Reporting [Abstract]

Segment Reporting

Note G – 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 by management and the Company's Board of Directors. Corporate and Unallocated includes corporate expenses determined to be non-allocable to the segments, interest income, and interest 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 January 31, 2013:
Net sales	$	353,840	$	242,196	$	—		$	596,036
Earnings before income taxes		39,025		32,592		(768	)		70,849
Three Months Ended January 31, 2012:
Net sales	$	370,834	$	210,049	$	—		$	580,883
Earnings before income taxes		48,418		30,597		(2,596	)		76,419
Six Months Ended January 31, 2013:
Net sales	$	724,500	$	460,483	$	—		$	1,184,983
Earnings before income taxes		86,449		65,154		(4,076	)		147,527
Assets		808,349		550,565		359,754			1,718,668
Six Months Ended January 31, 2012:
Net sales	$	764,559	$	424,619	$	—		$	1,189,178
Earnings before income taxes		108,296		64,896		(4,756	)		168,436
Assets		861,191		506,618		313,580			1,681,389

          No Customers represented over 10 percent of the Company's net sales for the three or six months ended January 31, 2013 and 2012. As of January 31, 2013 and July 31, 2012, no single customer represented more than 10 percent of the Company's outstanding accounts receivable.