Business Segment Information (Tables)

12 Months Ended

Oct. 31, 2014

Business Segment Information for Continuing Operations

Details of the Company’s operations by business segment for the last three fiscal years were as follows:

In Thousands	2014			2013			2012
Sales
Avionics & Controls	$	788,536		$	739,774		$	723,115
Sensors & Systems		771,369			676,331			673,377
Advanced Materials		491,264			472,672			481,329
	$	2,051,169		$	1,888,777		$	1,877,821

Earnings from Continuing Operations
Avionics & Controls ⁽¹⁾	$	121,185		$	111,144		$	45,075
Sensors & Systems		86,101			88,130			69,503
Advanced Materials		104,833			109,556			103,243
Segment Earnings		312,119			308,830			217,821

Corporate expense		(68,297	)		(62,166	)		(43,201	)
Gain on settlement of contingency		-			-			11,891
Other income		-			-			1,263
Interest income		555			535			463
Interest expense		(33,010	)		(39,638	)		(46,227	)
Loss on extinguishment of debt		(533	)		(946	)		-
	$	210,834		$	206,615		$	142,010

In Thousands	2014		2013		2012
Identifiable Assets
Avionics & Controls	$	1,125,850	$	1,275,514	$	1,261,300
Sensors & Systems		1,240,153		1,282,219		1,204,073
Advanced Materials		498,984		560,681		558,058
Discontinued Operations		212,712		-		-
Corporate ⁽²⁾		115,768		143,698		203,686
	$	3,193,467	$	3,262,112	$	3,227,117

Capital Expenditures
Avionics & Controls ⁽³⁾	$	9,338	$	13,777	$	12,138
Sensors & Systems		21,070		21,436		18,570
Advanced Materials ⁽⁴⁾		13,629		18,183		14,594
Discontinued Operations		1,173		1,758		2,625
Corporate		468		181		1,519
	$	45,678	$	55,335	$	49,446

Depreciation and Amortization
Avionics & Controls	$	36,330	$	35,559	$	32,721
Sensors & Systems		43,507		40,033		38,205
Advanced Materials		20,217		20,031		20,289
Discontinued Operations		13,862		13,659		13,880
Corporate		2,111		2,850		2,697
	$	116,027	$	112,132	$	107,792

¹	Fiscal 2013 includes a $3.5 million impairment charge against Racal Acoustics’ goodwill and fiscal 2012 includes a $52.2 million impairment charge against Racal Acoustics’ goodwill.

²	Primarily cash and deferred tax assets (see Note 9).

³	Excludes capital expenditures accounted for as a capitalized lease obligation of $11,691 in fiscal 2013.

⁴	Excludes capital expenditures accounted for as a capitalized lease obligation of $2,753 in fiscal 2014.

Revenue from External Customers Attributed to Foreign Countries by Geographic Area

The Company’s operations by geographic area for the last three fiscal years were as follows:

In Thousands	2014			2013			2012
Sales ¹
Domestic
Unaffiliated customers - U.S.	$	782,320		$	755,076		$	740,835
Unaffiliated customers - export		221,678			182,140			195,717
Intercompany		32,515			31,202			35,725
		1,036,513			968,418			972,277
Canada
Unaffiliated customers		231,937			232,890			245,353
Intercompany		7,544			6,554			2,844
		239,481			239,444			248,197
France
Unaffiliated customers		460,836			423,774			410,766
Intercompany		60,763			39,745			41,454
		521,599			463,519			452,220
United Kingdom
Unaffiliated customers		266,570			223,735			217,118
Intercompany		22,846			26,402			19,305
		289,416			250,137			236,423
All other Foreign
Unaffiliated customers		87,828			71,162			68,032
Intercompany		42,686			44,829			37,683
		130,514			115,991			105,715

Eliminations		(166,354	)		(148,732	)		(137,011	)
	$	2,051,169		$	1,888,777		$	1,877,821


In Thousands	2014			2013			2012
Segment Earnings ²
Domestic	$	179,565		$	175,332		$	161,465
Canada		33,599			42,963			33,128
France		50,750			49,042			33,152
United Kingdom		38,686			31,380			(19,539	)
All other foreign		9,519			10,113			9,615
	$	312,119		$	308,830		$	217,821

Identifiable Assets ³
Domestic	$	1,028,879		$	1,020,952		$	1,015,994
Canada		514,520			533,559			576,053
France		839,467			918,592			836,578
United Kingdom		555,620			515,090			477,214
All other foreign		139,213			130,221			117,592
	$	3,077,699		$	3,118,414		$	3,023,431

¹	Based on country from which the sale originated and the sale was recorded.

²	Before corporate expense, shown on page 73.

³	Excludes corporate, shown on page 73.

Product Lines Contributing Sales of Ten Percent or More

Product lines contributing sales of 10% or more of total sales in any of the last three fiscal years were as follows:

	2014			2013			2012

Connectors		18	%		16	%		16	%
Avionics		10	%		11	%		11	%

- 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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