Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Segment financial information and a reconciliation of segment results to consolidated results follows:



	Years Ended December 31,
	2014			2013			2012
Revenue:
Energy	$	2,017,239		$	1,853,853		$	1,788,295
Engineered Systems	2,385,965			2,177,970			2,143,687
Fluids	1,430,566			1,236,838			1,087,526
Refrigeration & Food Equipment	1,921,189			1,887,840			1,607,602
Intra-segment eliminations	(2,231		)	(1,405		)	(462		)
Total consolidated revenue	$	7,752,728		$	7,155,096		$	6,626,648

Earnings from continuing operations:
Segment earnings:
Energy	$	461,815		$	459,649		$	466,801
Engineered Systems	386,998			347,497			319,704
Fluids	251,639			224,523			182,544
Refrigeration & Food Equipment	238,734			267,307			223,397
Total segments	1,339,186			1,298,976			1,192,446
Corporate expense / other ⁽¹⁾	117,800			132,336			140,112
Net interest expense	127,179			120,654			121,269
Earnings before provision for income taxes and discontinued operations	1,094,207			1,045,986			931,065
Provision for taxes	316,067			248,459			280,990
Earnings from continuing operations	$	778,140		$	797,527		$	650,075

Operating margins:
Energy	22.9		%	24.8		%	26.1		%
Engineered Systems	16.2		%	16.0		%	14.9		%
Fluids	17.6		%	18.2		%	16.8		%
Refrigeration & Food Equipment	12.4		%	14.2		%	13.9		%
Total Segments	17.3		%	18.2		%	18.0		%
Earnings from continuing operations	10.0		%	11.1		%	9.8		%

Depreciation and amortization:
Energy	$	111,956		$	99,075		$	87,921
Engineered Systems	61,946			59,058			60,670
Fluids	60,903			48,812			41,381
Refrigeration & Food Equipment	68,701			67,228			37,295
Corporate	3,682			3,860			2,667
Consolidated total	$	307,188		$	278,033		$	229,934

Capital expenditures:
Energy	$	66,998		$	60,756		$	65,520
Engineered Systems	29,749			29,145			25,314
Fluids	34,319			21,868			22,655
Refrigeration & Food Equipment	33,510			27,173			30,863
Corporate	1,457			2,752			2,150
Consolidated total	$	166,033		$	141,694		$	146,502


(1)	Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, and various administrative expenses relating to the corporate headquarters.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Selected financial information by market segment (continued):



Total assets at December 31:	2014		2013
Energy	$	2,645,567	$	1,901,200
Engineered Systems	2,348,684		2,224,519
Fluids	1,414,387		1,390,777
Refrigeration & Food Equipment	1,494,121		1,540,295
Corporate ⁽²⁾	860,455		1,019,327
Total assets - continuing operations	8,763,214		8,076,118
Assets from discontinued operations	327,171		2,779,063
Consolidated total	$	9,090,385	$	10,855,181

(2)

Corporate assets are principally cash and cash equivalents. Also included in corporate assets is an asset of $25,800 and $75,591 in 2014 and 2013, respectively, that represents the overfunded plan status of the U.S. defined benefit plan. Additionally, included in corporate assets in 2013 is a $16,250 note receivable related to proceeds from the sale of ECT. Refer to Note 4 Disposed and Discontinued Operations and Note 15 Employee Benefit Plans, respectively, for additional information.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]



	Revenue						Long-Lived Assets
	Years Ended December 31,						At December 31,
	2014		2013		2012		2014		2013
United States	$	4,617,813	$	4,202,434	$	3,977,925	$	599,688	$	528,001
Europe	1,251,625		1,112,279		1,082,210		136,599		153,564
Other Americas	794,966		803,741		744,192		39,971		47,374
Asia	686,511		607,873		574,140		42,775		43,516
Other	401,813		428,769		248,181		18,036		15,394
Consolidated total	$	7,752,728	$	7,155,096	$	6,626,648	$	837,069	$	787,849

Revenue is attributed to regions based on the location of the Company’s customer, which in some instances is an intermediary and not necessarily the end user. Long-lived assets are comprised of net property, plant and equipment. The Company’s businesses are based primarily in the United States of America, Europe, and Asia. The Company’s businesses serve thousands of customers, none of which accounted for more than 10% of consolidated revenue.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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