Operating Segments and Related Disclosures (Tables)

6 Months Ended

12 Months Ended

May 31, 2013

Nov. 30, 2012

Customers that Represented More than 10% of Net Sales

Customers that represented more than 10% of net sales for the periods presented are as follows:

	Three months ended May 31,						Six months ended May 31,
	2013			2012			2013			2012
Raytheon		42	%		37	%		43	%		36	%
Lockheed Martin		31	%		32	%		31	%		30	%
United Launch Alliance		12	%			*			*			*

* Less than 10%.

Customers that represented more than 10% of net sales for the fiscal years presented are as follows:

	Year Ended
	2012			2011			2010
Raytheon Company (“Raytheon”)		37	%		36	%		37	%
Lockheed Martin Corporation (“Lockheed Martin”)		32			28			27

Selected Financial Information for Each Reportable Segment

Selected financial information for each reportable segment is as follows:

	Three months ended May 31,						Six months ended May 31,
	2013			2012			2013			2012
	(In millions)
Net Sales:
Aerospace and Defense	$	285.4		$	247.7		$	527.7		$	448.0
Real Estate		1.2			2.2			2.6			3.8
Total Net Sales	$	286.6		$	249.9		$	530.3		$	451.8
Segment Performance:
Aerospace and Defense	$	36.4		$	27.6		$	65.6		$	52.5
Environmental remediation provision adjustments		(1.2	)		(2.3	)		(0.6	)		(2.8	)
Retirement benefit plan expense		(10.8	)		(4.7	)		(21.5	)		(9.4	)
Unusual items (see Note 13)		(1.7	)		(0.2	)		(1.6	)		(0.4	)
Aerospace and Defense Total		22.7			20.4			41.9			39.9
Real Estate		1.0			0.9			2.0			2.0
Total Segment Performance	$	23.7		$	21.3		$	43.9		$	41.9
Reconciliation of segment performance to (loss) income from continuing operations before income taxes:
Segment performance	$	23.7		$	21.3		$	43.9		$	41.9
Interest expense		(12.6	)		(5.8	)		(23.8	)		(11.8	)
Interest income		0.1			0.1			0.2			0.3
Stock-based compensation expense		(3.1	)		(1.3	)		(6.3	)		(2.2	)
Corporate retirement benefit plan expense		(5.3	)		(5.6	)		(10.5	)		(11.1	)
Corporate and other		(7.8	)		(3.7	)		(11.7	)		(7.4	)
Unusual items (see Note 13)		(4.6	)		(0.4	)		(10.6	)		(0.4	)
(Loss) income from continuing operations before income taxes	$	(9.6	)	$	4.6		$	(18.8	)	$	9.3

Selected financial information for each reportable segment was as follows:

	Year Ended
	2012			2011			2010
	(In millions)
Net Sales:
Aerospace and Defense	$	986.1		$	909.7		$	850.7
Real Estate		8.8			8.4			7.2
Total	$	994.9		$	918.1		$	857.9
Segment Performance:
Aerospace and Defense	$	115.5		$	108.6		$	99.6
Environmental remediation provision adjustments		(11.4	)		(8.9	)		(0.2	)
Retirement benefit plan expense		(18.9	)		(21.0	)		(29.3	)
Unusual items (see Note 14)		(0.7	)		(4.1	)		(2.8	)
Aerospace and Defense Total		84.5			74.6			67.3
Real Estate		3.7			5.6			5.3
Total	$	88.2		$	80.2		$	72.6
Reconciliation of segment performance to income from continuing operations before income taxes:
Segment Performance	$	88.2		$	80.2		$	72.6
Interest expense		(22.3	)		(30.8	)		(37.0	)
Interest income		0.6			1.0			1.6
Stock-based compensation		(6.5	)		(3.7	)		(0.4	)
Corporate retirement benefit plan expense		(22.1	)		(25.4	)		(12.6	)
Corporate and other expenses		(12.7	)		(10.8	)		(21.5	)
Corporate unusual items (see Note 14)		(12.0	)		(1.5	)		(0.6	)
Income from continuing operations before income taxes	$	13.2		$	9.0		$	2.1
Aerospace and Defense	$	37.2		$	21.1		$	18.2
Real Estate		—			—			—
Corporate		—			—			4.4
Capital Expenditures, cash and non-cash	$	37.2		$	21.1		$	22.6
Aerospace and Defense	$	21.7		$	24.3		$	27.6
Real Estate		0.6			0.3			0.3
Corporate		—			—			—
Depreciation and Amortization	$	22.3		$	24.6		$	27.9

Components of Assets

	As of November 30,
	2012		2011
	(In millions)
Aerospace and Defense(1)	$	637.6	$	622.8
Real Estate		82.3		79.1
Identifiable assets		719.9		701.9
Corporate		199.4		237.6
Assets	$	919.3	$	939.5

(1) The Aerospace and Defense operating segment had $94.9 million of goodwill as of November 30, 2012 and 2011. In addition, as of November 30, 2012 and 2011 intangible assets balances were $13.9 million and $15.4 million, respectively, for the Aerospace and Defense operating segment.