Segment Reporting

3 Months Ended

Oct. 31, 2014

Segment Reporting [Abstract]

Segment Reporting

Note G – Segment Reporting

The Company has identified two reportable segments: Engine Products and Industrial Products.  Segment selection was based on the 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, such as 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 October 31, 2014:
Net sales	$            390,720	$            205,790	$                        -	$        596,510
Earnings before income taxes	53,160	27,643	(3,520)	77,283
Assets	896,090	644,755	329,153	1,869,998
Three Months Ended October 31, 2013:
Net sales	$            389,116	$            210,268	$                        -	$        599,384
Earnings before income taxes	62,073	31,143	(2,429)	90,787
Assets	864,273	526,142	429,510	1,819,925

There were no Customers that accounted for over 10 percent of net sales for the three months ended October 31, 2014 or 2013.  There were no Customers that accounted for over 10 percent of gross accounts receivable as of October 31, 2014 or July 31, 2014.