Segment Information

3 Months Ended

Oct. 31, 2011

Segment Information [Abstract]

Segment Information

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 (expense) 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 months ended October 31, 2011 and 2010:

									Corporate
									and
	Americas		Europe		Asia-Pacific		Total Region		Eliminations			Totals
Three months ended October 31, 2011:
Revenues from external customers	$	153,863	$	97,356	$	98,289	$	349,508	$	—		$	349,508
Intersegment revenues		10,225		762		7,442		18,429		(18,429	)		—
Segment profit		43,230		26,299		13,304		82,833		(3,263	)		79,570
Three months ended October 31, 2010:
Revenues from external customers	$	145,988	$	92,050	$	91,550	$	329,588	$	—		$	329,588
Intersegment revenues		9,748		893		5,946		16,587		(16,587	)		—
Segment profit		39,359		24,061		16,829		80,249		(3,436	)		76,813

Following is a reconciliation of segment profit to net income for the three months ended October 31, 2011 and 2010:

	Three months ended:
	October 31,
	2011			2010
Total profit from reportable segments	$	82,833		$	80,249
Corporate and eliminations		(3,263	)		(3,436	)
Unallocated amounts:
Administrative costs		(30,480	)		(31,569	)
Restructuring charges		—			(3,641	)
Investment and other income (expense)		(202	)		290
Interest expense		(5,047	)		(5,687	)
Income before income taxes		43,841			36,206
Income taxes		(11,109	)		(9,925	)
Net income	$	32,732		$	26,281