Segment Reporting

9 Months Ended

Apr. 30, 2016

Segment Reporting, Measurement Disclosures [Abstract]

Segment Reporting

Segment Reporting

The Company has identified two reportable segments: Engine Products and Industrial Products. Segment determination 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 (millions of dollars):

	Three Months Ended April 30,						Nine Months Ended April 30,
	2016			2015			2016			2015
Net Sales
Engine Product segment	$	357.3		$	368.0		$	1,024.8		$	1,115.8
Industrial Product segment	214.0			207.6			601.7			644.8
Total	$	571.3		$	575.6		$	1,626.5		$	1,760.6
Earnings Before Income Taxes
Engine Product segment	$	48.7		$	47.7		$	112.1		$	142.3
Industrial Product segment	29.9			25.3			81.6			88.0
Corporate and Unallocated	(6.5		)	(5.2		)	(18.8		)	(19.8		)
Total	$	72.1		$	67.8		$	174.9		$	210.5

There were no Customers that accounted for over 10 percent of net sales for the three and nine months ended April 30, 2016 and 2015. There were no Customers that accounted for over 10 percent of gross accounts receivable as of April 30, 2016 and 2015.