Operating Segments

3 Months Ended

Jan. 31, 2016

Segment Reporting [Abstract]

Operating Segments

11. 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, 2015.

The following table presents information about our reportable segments:

	AdhesiveDispensing Systems			AdvancedTechnology Systems			IndustrialCoating Systems			Corporate			Total
Three months ended
January 31, 2016
Net external sales	$	203,439		$	117,860		$	50,921		$	—		$	372,220
Operating profit (loss)		50,360	(a)		7,973	(b)		4,178	(c)		(10,533	)		51,978
Three months ended
January 31, 2015
Net external sales	$	194,213		$	132,218		$	52,577		$	—		$	379,008
Operating profit (loss)		43,327			26,818			3,764			(11,091	)		62,818

(a) Includes $480 of severance and restructuring costs in the three months ended January 31, 2016.

(b) Includes $510 of severance and restructuring costs in the three months ended January 31, 2016.

(c) Includes $27 of severance and restructuring costs in the three months ended January 31, 2016.

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

	Three Months Ended
	January 31, 2016			January 31, 2015
Total profit for reportable segments	$	51,978		$	62,818
Interest expense		(5,844	)		(4,089	)
Interest and investment income		138			86
Other-net		802			(102	)
Income before income taxes	$	47,074		$	58,713

We have significant sales in the following geographic regions:

	Three Months Ended
	January 31, 2016		January 31, 2015
United States	$	117,391	$	122,824
Americas		26,707		28,268
Europe		119,718		108,566
Japan		19,503		21,533
Asia Pacific		88,901		97,817
Total net external sales	$	372,220	$	379,008