Segment Reporting

9 Months Ended

Apr. 30, 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 the Company's management and 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 April 30, 2013:
Net sales	$	383,314	$	236,057	$	—		$	619,371
Earnings before income taxes		65,680		37,555		(3,759	)		99,476
Three Months Ended April 30, 2012:
Net sales	$	407,041	$	240,196	$	—		$	647,237
Earnings before income taxes		62,136		38,792		(938	)		99,990
Nine Months Ended April 30, 2013:
Net sales	$	1,107,814	$	696,540	$	—		$	1,804,354
Earnings before income taxes		152,129		102,709		(7,835	)		247,003
Assets		815,604		539,151		402,853			1,757,608
Nine Months Ended April 30, 2012:
Net sales	$	1,171,600	$	664,815	$	—		$	1,836,415
Earnings before income taxes		170,432		103,688		(5,694	)		268,426
Assets		879,228		534,686		340,359			1,754,273

          The Industrial Products segment incurred $0.7 million and $1.7 million, respectively, of restructuring expenses during the three and nine months ended April 30, 2013. The Engine Products segment incurred $0.4 million and $1.1 million, respectively, of restructuring expenses during the three and nine months ended April 30, 2013.

          No single Customer represented over 10 percent of the Company's net sales for the three or nine months ended April 30, 2013 and 2012. As of April 30, 2013 and July 31, 2012, no single Customer represented more than 10 percent of the Company's outstanding accounts receivable.