SEGMENT DATA

The Company manages and reports its business in the following two segments: Industrial and Infrastructure. The Company's reportable operating segments have been determined in accordance with the Company's internal management structure, which is organized based on operating activities, the manner in which we organize segments for making operating decisions and assessing performance and the availability of separate financial results. We do not allocate certain corporate expenses related to executive retirement plans, the Company’s Board of Directors and strategic initiatives, as well as certain other costs and report them in Corporate. Neither of our two reportable operating segments represent the aggregation of two or more operating segments.

Sales to a single customer did not aggregate 4 percent or more of total sales in 2015, 2014 and 2013. Export sales from U.S. operations to unaffiliated customers were $71.0 million, $82.2 million and $102.1 million in 2015, 2014 and 2013, respectively.

At the start of fiscal 2014, the Company enhanced its organizational structure to align a broader base management team with customer-facing products and technology platforms, as well as to further increase cross-selling opportunities. This operating structure supports the Company's stated growth objectives across diverse market sectors, preserves the focus on customers and increases product innovation. Consistent with previous allocation methodologies, corporate expenses related to each segment have been classified accordingly. We restated the segment financial information for the year ended June 30, 2013 to reflect the change in reportable operating segments.

INDUSTRIAL The Industrial segment generally serves customers that operate in industrial end markets such as transportation, general engineering, aerospace and defense. The customers in these end markets manufacture engines, airframes, automobiles, trucks, ships and various types of industrial equipment. The technology and customization requirements for customers we serve vary by customer, application and industry. The value we deliver to our Industrial segment customers centers on our application expertise and our diverse offering of products and services.

INFRASTRUCTURE The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors who support primary industries such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. Generally, we rely on customer intimacy to serve this segment. By gaining an in-depth understanding of our customers’ engineering and development needs, we are able to offer complete system solutions and high-performance capabilities to optimize and add value to their operations.

Segment data is summarized as follows:



(in thousands)	2015			2014			2013
Sales:
Industrial	$	1,461,744		$	1,524,075		$	1,386,690
Infrastructure	1,185,451			1,313,115			1,202,683
Total sales	$	2,647,195		$	2,837,190		$	2,589,373

Operating (loss) income:
Industrial	$	160,894		$	177,040		$	192,828
Infrastructure	(509,381		)	94,940			111,453
Corporate	(9,336		)	(8,548		)	(7,887		)
Total operating (loss) income	$	(357,823	)	$	263,432		$	296,394

Interest expense	$	31,466		$	32,451		$	27,472
Other (income) expense, net	(1,674		)	2,172			2,313
(Loss) income before income taxes	$	(387,615	)	$	228,809		$	266,609

Depreciation and amortization:
Industrial	$	64,188		$	65,820		$	60,458
Infrastructure	67,413			64,339			52,583
Corporate	63			63			63
Total depreciation and amortization	$	131,664		$	130,222		$	113,104

Equity income:
Industrial	$	—		$	34		$	—
Infrastructure	6			50			42
Total equity income	$	6		$	84		$	42

Total assets:
Industrial	$	1,259,270		$	1,449,688		$	1,190,026
Infrastructure	1,279,608			1,986,724			1,522,470
Corporate	310,651			431,674			588,543
Total assets	$	2,849,529		$	3,868,086		$	3,301,039

Capital expenditures:
Industrial	$	64,497		$	71,628		$	47,501
Infrastructure	36,442			45,748			35,334
Total capital expenditures	$	100,939		$	117,376		$	82,835

Investments in affiliated companies:
Industrial	$	—		$	—		$	234
Infrastructure	361			495			437
Total investments in affiliated companies	$	361		$	495		$	671

Geographic information for sales, based on country of origin, and assets is as follows:



(in thousands)	2015		2014		2013
Sales:
United States	$	1,176,622	$	1,198,541	$	1,052,466
Germany	442,009		511,209		454,807
China	246,953		248,212		239,418
Italy	85,530		107,511		94,183
India	85,193		81,455		83,401
Canada	73,912		78,163		93,257
United Kingdom	70,600		105,041		92,614
Other	466,376		507,058		479,227
Total sales	$	2,647,195	$	2,837,190	$	2,589,373

Total assets:
United States	$	1,338,594	$	1,842,453	$	1,228,923
Germany	394,491		538,661		646,983
China	274,774		341,949		311,053
Switzerland	194,139		264,928		207,000
India	97,463		94,897		94,914
Italy	94,978		178,141		172,764
United Kingdom	71,342		79,657		107,738
Canada	60,492		133,481		138,959
Other	323,256		393,919		392,705
Total assets:	$	2,849,529	$	3,868,086	$	3,301,039

Approximate sales by end markets as a percentage of consolidated sales are as follows:



	2015		2014		2013
End Markets:
General engineering	36	%	31	%	29	%
Transportation	21		21		21
Energy	19		23		23
Earthworks	17		19		20
Aerospace and defense	7		6		7
Total	100	%	100	%	100	%