17. Segment Information

As described in Note 2 - Spin-off of Apergy Corporation, Dover completed the distribution of Apergy to its shareholders on May 9, 2018. Apergy holds entities conducting upstream energy businesses previously included in the Energy segment. Following completion of the spin-off, the retained Precision Components (Bearings & Compression) and Tulsa Winch Group businesses, which were historically reported within the former Energy segment, became part of the Fluids and Engineered Systems segments, respectively. As a result of the spin-off of Apergy, the Company no longer has the Energy segment.

Effective the second quarter of 2018, the Company categorizes its operating companies into three reportable segments based on how the Chief Operating Decision Makers (CODM) analyze performance, allocate capital and make strategic and operational decisions. The three reportable segments are as follows:


•	Engineered Systems segment is comprised of two platforms, Printing & Identification and Industrials, and is focused on the design, manufacture and service of critical equipment and components serving the fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions and industrial end markets.


•	Fluids segment, serving the Fueling & Transport, Pumps and Process Solutions end markets, is focused on the safe handling of critical fluids, and providing critical components to the retail fueling, chemical, hygienic, oil and gas, power generation and industrial markets.


•	Refrigeration & Food Equipment segment is a provider of innovative and energy efficient equipment and systems serving the commercial refrigeration and food equipment end markets

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



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Revenue:
Engineered Systems	$	702,989		$	678,285		$	1,374,615		$	1,307,157
Fluids	693,666			633,252			1,321,764			1,230,897
Refrigeration & Food Equipment	401,766			426,304			740,001			783,138
Intra-segment eliminations	(327		)	(470		)	(615		)	(611		)
Total consolidated revenue	$	1,798,094		$	1,737,371		$	3,435,765		$	3,320,581
Earnings from continuing operations:
Segment earnings: ⁽¹⁾
Engineered Systems	$	126,649		$	110,103		$	228,715		$	287,310
Fluids	93,028			91,465			160,376			158,637
Refrigeration & Food Equipment	51,372			65,829			80,554			99,391
Total segment earnings	271,049			267,397			469,645			545,338
Corporate expense / other ⁽²⁾	30,050			34,818			60,813			72,100
Interest expense	32,125			36,854			67,765			73,213
Interest income	(2,563		)	(2,335		)	(4,620		)	(4,910		)
Earnings before provision for income taxes and discontinued operations	211,437			198,060			345,687			404,935
Provision for income taxes	44,981			55,585			69,822			107,372
Earnings from continuing operations	$	166,456		$	142,475		$	275,865		$	297,563


(1)	Segment earnings includes non-operating income and expense directly attributable to the segments. Non-operating income and expense includes gain on sale of businesses and other expense (income), net.


(2)	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, shared business services costs and various administrative expenses relating to the corporate headquarters.