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 September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Revenue:
Engineered Systems	$	671,534		$	670,999		$	2,046,149		$	1,978,156
Fluids	690,065			638,068			2,011,829			1,868,965
Refrigeration & Food Equipment	386,214			438,788			1,126,215			1,221,926
Intra-segment eliminations	(410		)	(80		)	(1,025		)	(691		)
Total consolidated revenue	$	1,747,403		$	1,747,775		$	5,183,168		$	5,068,356
Earnings from continuing operations:
Segment earnings: ⁽¹⁾
Engineered Systems	$	108,714		$	102,767		$	337,429		$	390,077
Fluids	101,207			103,052			261,583			261,689
Refrigeration & Food Equipment	42,434			65,413			122,988			164,804
Total segment earnings	252,355			271,232			722,000			816,570
Corporate expense / other ⁽²⁾	30,207			30,843			91,020			102,943
Interest expense	31,192			35,372			98,957			108,585
Interest income	(2,060		)	(1,759		)	(6,680		)	(6,669		)
Earnings before provision for income taxes and discontinued operations	193,016			206,776			538,703			611,711
Provision for income taxes	35,711			47,321			105,533			154,693
Earnings from continuing operations	$	157,305		$	159,455		$	433,170		$	457,018


(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 (income) expense, 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.