SEGMENT INFORMATION AND GEOGRAPHIES

12 Months Ended

Jul. 31, 2013

Segment Reporting [Abstract]

SEGMENT INFORMATION AND GEOGRAPHIES

SEGMENT INFORMATION AND GEOGRAPHIES

The Company serves customers through two global businesses: Life Sciences and Industrial.

The Life Sciences business group is focused on developing, manufacturing and selling products to customers in the Medical, BioPharmaceuticals and Food & Beverage markets. The Industrial business group is focused on developing, manufacturing and selling products to customers in the Process Technologies, Aerospace and Microelectronics markets. The chief executive officer manages the Company and makes key decisions about the allocation of Company resources based on the two businesses. The Company’s reportable segments, which are also its operating segments, consist of its two businesses, Life Sciences and Industrial.

 The Business Groups are supported by shared facilities and personnel (“Shared Services Group”) in the Company’s subsidiaries that sell into both Life Sciences and Industrial markets. The Shared Services Group and Corporate Services Group facilitate the Company’s corporate governance and business activities globally. Expenses associated with the Corporate Services Group, as well as interest expense, net, the provision for income taxes and restructuring and other charges are excluded from the measurement and evaluation of the profitability of the Company’s reportable segments.

 Cash and cash equivalents, short-term investments, investments and retirement benefit assets and income taxes, all of which are managed at the Corporate level, are included in Corporate/Shared Services Groups’ assets. Furthermore assets not specifically identified to a business are also included in Corporate/Shared Services Groups’ assets. Accounts receivable and inventory are in all cases specifically identified to a segment.

SEGMENT INFORMATION:	2013		2012		2011
SALES:
Life Sciences	$	1,309,375	$	1,253,594	$	1,184,142
Industrial	1,338,688		1,418,062		1,333,053
Total	$	2,648,063	$	2,671,656	$	2,517,195
SEGMENT PROFIT:
Life Sciences	319,271		319,312		292,503
Industrial	214,798		198,747		182,749
Total segment profit	534,069		518,059		475,252
Corporate Services Group	66,640		64,114		61,125
ROTC	40,182		66,858		26,505
Interest expense, net	15,621		20,177		18,903
Earnings before income taxes from continuing operations	$	411,626	$	366,910	$	368,719
DEPRECIATION AND AMORTIZATION:
Life Sciences	$	61,709	$	55,489	$	47,895
Industrial	42,641		45,419		38,585
Subtotal	104,350		100,908		86,480
Corporate Services Group	1,934		2,479		2,239
Total depreciation and amortization from continuing operations	$	106,284	$	103,387	$	88,719
CAPITAL EXPENDITURES:
Life Sciences	$	40,589	$	47,694	$	55,313
Industrial	33,551		26,227		41,361
Subtotal	74,140		73,921		96,674
Corporate/Shared Services Groups	36,042		84,988		64,097
Total	$	110,182	$	158,909	$	160,771
IDENTIFIABLE ASSETS:
Life Sciences	$	1,090,585	$	1,274,036	$	1,097,616
Industrial	898,064		955,541		1,011,778
Subtotal	1,988,649		2,229,577		2,109,394
Corporate/Shared Services Groups	1,484,190		1,118,315		1,123,022
Total	$	3,472,839	$	3,347,892	$	3,232,416
GEOGRAPHIC INFORMATION:
SALES:
Americas	$	849,486	$	839,984	$	779,763
Europe	1,034,515		1,022,952		995,521
Asia	764,062		808,720		741,911
Total	$	2,648,063	$	2,671,656	$	2,517,195

SEGMENT INFORMATION:	2013			2012			2011
IDENTIFIABLE ASSETS:
Americas	$	1,127,364		$	1,318,312		$	1,108,943
Europe	590,893			644,721			695,297
Asia	322,483			350,510			375,283
Eliminations	(52,091		)	(83,966		)	(70,129		)
Subtotal	1,988,649			2,229,577			2,109,394
Corporate/Shared Services Groups	1,484,190			1,118,315			1,123,022
Total	$	3,472,839		$	3,347,892		$	3,232,416

Sales by the Company’s U.S. operations to unaffiliated customers totaled approximately $750,000, $733,000 and $709,000 in fiscal years 2013, 2012 and 2011, respectively. Included therein are export sales of approximately $65,000, $41,000 and $56,000 in fiscal years 2013, 2012 and 2011, respectively. Sales by the Company’s subsidiaries in the Eurozone amounted to approximately $731,000, $723,000 and $689,000 in fiscal years 2013, 2012 and 2011, respectively. No country in the Eurozone was individually material as a percentage of total Company sales in fiscal years 2013, 2012 and 2011. Sales by the Company’s subsidiary in Japan amounted to approximately $225,000, $259,000 and $248,000 in fiscal years 2013, 2012 and 2011, respectively. The Company considers its foreign operations to be of major importance to its future growth prospects. The risks related to the Company’s foreign operations include the local political and regulatory developments as well as the global and regional economic climate.