Operating Segments

6 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Operating Segments

10. Operating segments  

We conduct business across three primary business segments:  Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems.  The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker.  The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses.  Items below the operating profit line of the Consolidated Statement of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment.  The accounting policies of the segments are generally the same as those described in Note 1, Significant Accounting Policies, of our annual report on Form 10-K for the year ended October 31, 2014.

The following table presents information about our reportable segments:

	AdhesiveDispensing Systems			AdvancedTechnology Systems			IndustrialCoating Systems		Corporate			Total
Three months ended
April 30, 2015
Net external sales	$	203,273		$	129,482		$	67,972	$	—		$	400,727
Operating profit (loss)		50,780			24,770			11,514		(10,650	)		76,414
Three months ended
April 30, 2014
Net external sales	$	231,954		$	127,628		$	57,879	$	—		$	417,461
Operating profit (loss)		62,699	(a)		30,842	(b)		9,335		(10,042	)		92,834
Six months ended
April 30, 2015
Net external sales	$	397,486		$	261,700		$	120,549	$	—		$	779,735
Operating profit (loss)		94,109			51,588			15,278		(21,743	)		139,232
Six months ended
April 30, 2014
Net external sales	$	441,425		$	225,169		$	110,287	$	—		$	776,881
Operating profit (loss)		110,619	(a)		41,220	(b)		14,291		(19,437	)		146,693

(a) Includes $699 of severance and restructuring costs in the three and six months ended April 30, 2014.

(b) Includes $579 of severance and restructuring costs in the three and six months ended April 30, 2014.

A reconciliation of total segment operating income to total consolidated income before income taxes is as follows:

	Three Months Ended						Six Months Ended
	April 30, 2015			April 30, 2014			April 30, 2015			April 30, 2014
Total profit for reportable segments	$	76,414		$	92,834		$	139,232		$	146,693
Interest expense		(4,313	)		(3,532	)		(8,402	)		(7,107	)
Interest and investment income		151			217			237			329
Other-net		(687	)		(406	)		(789	)		(615	)
Income before income taxes	$	71,565		$	89,113		$	130,278		$	139,300

We have significant sales in the following geographic regions:

	Three Months Ended				Six Months Ended
	April 30, 2015		April 30, 2014		April 30, 2015		April 30, 2014
United States	$	140,030	$	125,693	$	262,854	$	241,199
Americas		31,028		31,144		59,296		58,409
Europe		105,097		122,058		213,663		238,533
Japan		28,499		28,889		50,032		55,134
Asia Pacific		96,073		109,677		193,890		183,606
Total net external sales	$	400,727	$	417,461	$	779,735	$	776,881