Segment Information

3 Months Ended

Mar. 31, 2019

18. Segment Information

The Company categorizes its operating companies into three distinct reportable segments. Segment financial information and a reconciliation of segment results to consolidated results is 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 March 31,
	2019		2018
Revenue:
Engineered Systems	$	687,191	$	671,626
Fluids	703,224		628,098
Refrigeration & Food Equipment	334,643		338,235

Intra-segment eliminations	(301)		(288)
Total consolidated revenue	$	1,724,757	$	1,637,671
Earnings from continuing operations:
Segment earnings: ⁽¹⁾
Engineered Systems	$	123,074	$	102,066
Fluids ⁽²⁾	52,221		67,348
Refrigeration & Food Equipment	24,807		29,182

Total segment earnings	200,102		198,596
Corporate expense / other ⁽³⁾	30,866		30,763
Interest expense	31,808		35,640
Interest income	(890)		(2,058)
Earnings before provision for income taxes and discontinued operations	138,318		134,251
Provision for income taxes	32,613		24,841
Earnings from continuing operations	$	105,705	$	109,410

⁽¹⁾Segment earnings includes non-operating income and expense directly attributable to the segments.

⁽²⁾ The three months ended March 31, 2019 includes a $46,946 loss on assets held for sale for Finder. Excluding this loss, Fluids segment earnings was $99,167.

⁽³⁾ 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.