Segment Information

6 Months Ended

Jan. 31, 2014

Text Block [Abstract]

Segment Information

Segment Information

Effective May 1, 2013, the Company is organized and managed on a global basis within two business platforms: Identification Solutions and Workplace Safety, which are the reportable segments.

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, legal, 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 markup that reasonably approximates fair value.

Each business platform has a President that reports directly to the Company's chief operating decision maker, its Interim Chief Executive Officer and Chief Financial Officer. Each platform has its own distinct operations, maintains its own financial reports and is evaluated based on global segment profit. The Company has determined that these business platforms comprise its operating and reportable segments based on the information used by the Interim Chief Executive Officer and Chief Financial Officer to allocate resources and assess performance.

The segment results have been adjusted to reflect continuing operations in all periods presented. The following is a summary of segment information for the three and six months ended January 31, 2014 and 2013:

	Three months ended January 31,				Six months ended January 31,
	2014		2013		2014		2013
Sales to External Customers
ID Solutions	$	194,732	$	168,234	$	404,278	$	330,627
Workplace Safety	96,462		104,468		194,446		214,090
Total Company	$	291,194	$	272,702	$	598,724	$	544,717
Segment Profit
ID Solutions	$	37,526	$	34,643	$	88,493	$	79,223
Workplace Safety	14,668		23,600		33,042		51,429
Total Company	$	52,194	$	58,243	$	121,535	$	130,652

The following is a reconciliation of segment profit to earnings from continuing operations before income taxes for the three and six months ended January 31, 2014 and 2013:

	Three months ended January 31,						Six months ended January 31,
	2014			2013			2014			2013
Total profit from reportable segments	$	52,194		$	58,243		$	121,535		$	130,652
Unallocated amounts:
Administrative costs	(29,524		)	(34,513		)	(62,338		)	(63,686		)
Restructuring charges	(4,324		)	(1,933		)	(11,163		)	(1,933		)
Investment and other income	255			898			1,017			1,294
Interest expense	(3,676		)	(4,406		)	(7,397		)	(8,569		)
Earnings from continuing operations before income taxes	$	14,925		$	18,289		$	41,654		$	57,758