NOTE E — Segment Information

The Company evaluates short-term segment performance based on segment profit or loss and customer sales. Corporate long-term performance is evaluated based on shareholder value enhancement (“SVE”), which incorporates the cost of capital as a hurdle rate for capital expenditures, new product development, and acquisitions. Segment profit or loss does not include certain administrative costs, such as the cost of finance, information technology and human resources, which are managed as global functions. Restructuring charges, stock options, interest, investment and other income and income taxes are also excluded when evaluating performance.

The Company is organized and managed on a geographic basis by region. Each of these regions, Americas, Europe 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 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.

Intersegment sales and transfers are recorded at cost plus a standard percentage markup. Intercompany profit is eliminated in consolidation. It is not practicable to disclose enterprise-wide revenue from external customers on the basis of product or service.

Following is a summary of segment information for the three and nine months ended April 30, 2011 and 2010:


									Corporate
							Total		And
	Americas		Europe		Asia-Pacific		Regions		Eliminations			Totals
Three months ended April 30, 2011:
Revenues from external customers	$	149,217	$	105,894	$	82,785	$	337,896	$	—		$	337,896
Intersegment revenues		9,938		696		5,960		16,594		(16,594	)		—
Segment profit		38,292		28,938		9,976		77,206		(3,561	)		73,645

Three months ended April 30, 2010:
Revenues from external customers	$	144,413	$	98,152	$	79,322	$	321,887	$	—		$	321,887
Intersegment revenues		11,624		791		4,443		16,858		(16,858	)		—
Segment profit		33,858		27,472		12,775		74,105		(3,558	)		70,547

Nine months ended April 30, 2011:
Revenues from external customers	$	431,216	$	301,985	$	263,292	$	996,493	$	—		$	996,493
Intersegment revenues		30,729		2,209		18,306		51,244		(51,244	)		—
Segment profit		108,666		82,165		38,330		229,161		(12,087	)		217,074

Nine months ended April 30, 2010:
Revenues from external customers	$	402,255	$	289,101	$	244,846	$	936,202	$	—		$	936,202
Intersegment revenues		32,657		3,367		13,344		49,368		(49,368	)		—
Segment profit		90,205		78,281		38,589		207,075		(10,161	)		196,914

Following is a reconciliation of segment profit to net income for the three months and nine months ended April 30, 2011 and 2010.


	Three months ended:						Nine months ended:
	April 30,						April 30,
	2011			2010			2011			2010
Total profit from reportable segments	$	77,206		$	74,105		$	229,161		$	207,075
Corporate and eliminations		(3,561	)		(3,558	)		(12,087	)		(10,161	)
Unallocated amounts:
Administrative costs		(31,563	)		(32,286	)		(90,534	)		(91,944	)
Restructuring charges		(1,211	)		(2,347	)		(6,986	)		(9,597	)
Investment and other income		1,428			121			2,892			1,273
Interest expense		(5,103	)		(5,147	)		(16,640	)		(15,472	)


Income before income taxes		37,196			30,888			105,806			81,174
Income taxes		(8,607	)		(7,193	)		(26,737	)		(20,810	)

Net income	$	28,589		$	23,695		$	79,069		$	60,364