Segment Information

9 Months Ended

Apr. 30, 2013

Text Block [Abstract]

Segment Information

Segment Information

The Company evaluates short-term segment performance based on segment profit or loss and customer sales. Segment profit or loss does not include certain administrative costs, such as the cost of finance, information technology, human resources, and executive leadership, which are managed as global functions. Restructuring charges, impairment charges, equity compensation costs, interest expense, investment and other income (expense) and income taxes are also excluded when evaluating segment performance. Intersegment sales and transfers are recorded at cost plus a standard percentage markup.

Through April 30, 2013, the Company is organized and managed on a geographic basis by region. Each of these regions, Americas, EMEA and Asia-Pacific, has a President that reports directly to the Company’s chief operating decision maker, its Chief Executive Officer. Each region has its own distinct operations, is managed locally by its own management team, maintains its own financial reports and is evaluated based on regional segment profit. The Company has determined that these regions comprise its operating and reportable segments based on the information used by the Chief Executive Officer to allocate resources and assess performance. Effective May 1, 2013, the Company will reorganize into two global product-based business platforms: Identification Solutions and Workplace Safety, which is known as Direct Marketing through the quarter ended April 30, 2013.

Following is a summary of segment information for the three and nine months ended April 30, 2013 and 2012:

	Americas		EMEA		Asia-Pacific		Total Region		Corporate and Eliminations			Totals
Three months ended April 30, 2013
Revenues from external customers	$	178,559	$	94,044	$	33,134	$	305,737	$	—		$	305,737
Segment profit	42,942		22,993		5,485		71,420		(1,282		)	70,138
Three months ended April 30, 2012
Revenues from external customers	$	143,083	$	94,136	$	38,169	$	275,388	$	—		$	275,388
Segment profit	39,181		25,566		6,080		70,827		(388		)	70,439
Nine months ended April 30, 2013
Revenues from external customers	$	470,418	$	279,420	$	106,570	$	856,408	$	—		$	856,408
Segment profit	119,179		70,568		15,793		205,540		(5,049		)	200,491
Nine months ended April 30, 2012
Revenues from external customers	$	419,862	$	279,506	$	114,205	$	813,573	$	—		$	813,573
Segment profit	118,871		78,432		18,411		215,714		(6,010		)	209,704

Following is a reconciliation of segment profit to net earnings (loss) for the three and nine months ended April 30, 2013 and 2012:

	Three months ended April 30,						Nine Months Ended April 30,
	2013			2012			2013			2012
Total profit from reportable segments	$	71,420		$	70,827		$	205,540		$	215,714
Corporate and eliminations	(1,282		)	(388		)	(5,049		)	(6,010		)
Unallocated amounts:
Administrative costs	(30,642		)	(25,506		)	(94,042		)	(82,636		)
Restructuring charges	(8,540		)	(1,977		)	(10,487		)	(1,977		)
Investment and other income	1,131			1,108			2,427			1,719
Interest expense	(4,185		)	(4,735		)	(12,755		)	(14,715		)
Earnings from continuing operations before income taxes	27,902			39,329			85,634			112,095
Income taxes	(6,064		)	(11,290		)	(47,965		)	(27,767		)
Earnings from continuing operations	21,838			28,039			37,669			84,328
(Loss) from discontinued operations, net of income taxes	(17,605		)	(387		)	(14,933		)	(113,898		)
Net earnings (loss)	$	4,233		$	27,652		$	22,736		$	(29,570	)

Following is a summary of sales by business platform for the three and nine months ended April 30, 2013 and 2012:

	Three months ended April 30,				Nine Months Ended April 30,
	2013		2012		2013		2012
Identification Solutions	$	212,799	$	180,414	$	576,233	$	531,188
Direct Marketing	88,004		90,528		266,109		267,785
Die-Cut	4,934		4,446		14,066		14,600
Total	$	305,737	$	275,388	$	856,408	$	813,573