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Segment Reporting
 9 Months Ended
Apr. 30, 2015
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 April 30, 2015:

 

 

 

 

 

 

 

Net sales

$           368,046

 

$            199,967

 

$                        -

 

$        568,013

Earnings before income taxes
47,760 

 
23,183 

 
(5,221)

 
65,722 

 

 

 

 

 

 

 

 

Three Months Ended April 30, 2014:

 

 

 

 

 

 

 

Net sales

$           402,157

 

$            222,077

 

$                        -

 

$        624,234

Earnings before income taxes
61,432 

 
32,507 

 
243 

 
94,182 

 

 

 

 

 

 

 

 

Nine Months Ended April 30, 2015:

 

 

 

 

 

 

 

Net sales

$        1,115,875

 

$            645,592

 

$                        -

 

$     1,761,467

Earnings before income taxes
142,356 

 
88,272 

 
(19,812)

 
210,816 

Assets
886,407 

 
632,296 

 
327,129 

 
1,845,832 

 

 

 

 

 

 

 

 

Nine Months Ended April 30, 2014:

 

 

 

 

 

 

 

Net sales

$        1,160,948

 

$            644,292

 

$                        -

 

$     1,805,240

Earnings before income taxes
170,799 

 
91,682 

 
(2,630)

 
259,851 

Assets
890,639 

 
552,533 

 
454,829 

 
1,898,001 

 

There were no Customers that accounted for over 10 percent of net sales for the three or nine months ended April 30, 2015 or 2014.  There were no Customers that accounted for over 10 percent of gross accounts receivable as of April 30, 2015 or 2014.