Segment Information

6 Months Ended

Jan. 31, 2012

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. 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, impairment 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 impracticable 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 six months ended January 31, 2012 and 2011:

		September 30,		September 30,		September 30,			September 30,		September 30,			September 30,
	Americas		Europe		Asia- Pacific			Total Region		Corporate and Eliminations			Totals
Three months ended January 31, 2012:
Revenues from external customers	$	138,405	$	95,593	$	86,586		$	320,584	$	—		$	320,584
Intersegment revenues		9,992		1,270		7,321			18,583		(18,583	)		—
Segment profit		35,798		26,562		7,733	(1)		70,093		(2,359	)		67,734
Three months ended January 31, 2011:
Revenues from external customers	$	136,011	$	104,041	$	88,957		$	329,009	$	—		$	329,009
Intersegment revenues		11,043		620		6,400			18,063		(18,063	)		—
Segment profit		31,015		29,165		11,524			71,704		(5,088	)		66,616
Six months ended January 31, 2012:
Revenues from external customers	$	292,267	$	192,949	$	184,876		$	670,092	$	—		$	670,092
Intersegment revenues		20,216		2,032		14,763			37,011		(37,011	)		—
Segment profit		79,028		52,861		21,037	(1)		152,926		(5,622	)		147,304
Six months ended January 31, 2011:
Revenues from external customers	$	281,999	$	196,091	$	180,507		$	658,597	$	—		$	658,597
Intersegment revenues		20,791		1,513		12,346			34,650		(34,650	)		—
Segment profit		70,374		53,226		28,353			151,953		(8,525	)		143,428

(1) The Company recognized a goodwill impairment charge of $115,688 during the quarter ended January 31, 2012, related to the North/South Asia reporting unit within the Asia-Pacific reporting segment, which is excluded from segment profit as presented in the table above. Refer to Note B, “Goodwill and Intangible Assets” for further discussion.

Following is a reconciliation of segment profit to net income (loss) for the three months and six months ended January 31, 2012 and 2011:

		September 30,			September 30,			September 30,			September 30,
	Three months ended January 31,						Six months ended January 31,
	2012			2011			2012			2011
Total profit from reportable segments	$	70,093		$	71,704		$	152,926		$	151,953
Corporate and eliminations		(2,359	)		(5,088	)		(5,622	)		(8,525	)
Unallocated amounts:
Administrative costs		(29,244	)		(27,402	)		(59,724	)		(58,970	)
Restructuring charges		—			(2,134	)		—			(5,775	)
Impairment charge		(115,688	)		—			(115,688	)		—
Investment and other income		812			1,174			610			1,464
Interest expense		(4,933	)		(5,850	)		(9,980	)		(11,537	)
(Loss) income before income taxes		(81,319	)		32,404			(37,478	)		68,610
Income taxes		(8,635	)		(8,205	)		(19,744	)		(18,130	)
Net (loss) income	$	(89,954	)	$	24,199		$	(57,222	)	$	50,480